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2025-07-31-accounts

Company registration number 01696490 (England and Wales) Charity registration number 513814 (England and Wales)

THE GREENBANK PROJECT

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

President Lady Angela Morgan
Patrons Sir Philip Craven
Miss R Hall (deceased 7 November 2024)
Trustees Paul Clark
John Gillin (Appointed 15 April 2025)
Emma Hulme
Dr Alan Irving (Chair)
Sean Marshall
Teresa Murphy
Secretary Mary Beaumont
Chief Executive Mary Beaumont
Senior Management Team Lisa Turner EHCP Lead
Mark Palmer Sports Development Manager
Ian Grice Senior Data Analyst
Christine Maguire Curriculum Manager
Grace Last Curriculum Manager
Country of incorporation United Kingdom 01696490
(England and Wales)
Charity registration England and Wales 513814
Registered office Greenbank Lane
Aigburth
Liverpool
L17 1AG
Auditor DSG Audit
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
Solicitors Weightmans LLP
100 Old Hall Street
Liverpool
L3 9QJ

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Trustees' report 1 - 11
Statement of trustees' responsibilities 12
Independent auditor's report 13 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 34

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

The trustees present their annual report and financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objectives are: to provide or assist in the provision of facilities for the education, training, employment, welfare and relief of persons who have special needs by reason of disability (principal objective) and to benefit the residents of Liverpool and the surrounding area by the provision of facilities, or recreation, or other leisure time occupation of those who have need of such facilities by reason of youth, age, infirmity, disability, financial hardship, social and economic circumstances or for the public at large in the interests of social welfare and with the objective of improving the condition of life of the residents.

There have been no changes in the policies adopted in furtherance of these objectives during the year.

Greenbank's activities are reflected in its mission statement, which is:

"Supporting people to achieve their potential through inclusive education, sport and leisure activities".

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

Achievements and performance

Significant activities and achievements against objectives

Provision of facilities for education, training and employment – Greenbank College

Greenbank’s education, training and employment services are offered by Greenbank College, a small facility which provides supported and inclusive opportunities for a diverse range of students.

College running costs were met during the year primarily through contract funding provided by the Education, Skills Funding Agency (ESFA) / Department for Education (DfE). Greenbank was able to provide educational opportunities for 176 students.

All 176 of these students are aged between 16 and 18 or up to 25 with an Education, Health & Care Plan (EHCP), following a study programme, which focuses on their aspirations for their future. Each programme includes a work-related subject in addition to mathematics and English (if not already achieved to a level 2 standard), employability & citizenship skills, work experience or a placement, enrichment activities as well as one-to-one personal tutor sessions. The aim is to provide a great experience for all students involved.

The curriculum has been restructured into clearly defined strands, including Foundation Learning, Vocational Programmes, and Supported Internships. Leaders undertook a comprehensive audit of the Foundation Learning provision against learners’ Education, Health and Care Plans (EHCPs), which led to a full redesign of the curriculum. As a result, curriculum content and timetabled activities are now explicitly aligned to the skills learners need to achieve their EHCP outcomes, ensuring provision is highly personalised, purposeful, and outcomesfocused. Clear and well-sequenced progression pathways from Entry Level 2 to Level 2 have been established, enabling learners to progress through multiple routes based on individual ability, confidence, and readiness for employment. The Supported Internship curriculum has also been strengthened through closer alignment to learners’ EHCP outcomes, with the taught element focused on developing employability and essential soft skills to support successful transitions into sustained employment.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Subjects offered to students in this reporting year include

The challenges faced during the year 2024/25 were continuing staff retention (which has improved somewhat compared to the previous year, although it was still high), and low student numbers. This led to the employment of agency staff to cover unfilled roles, providing some stability in the classroom and should lead to an increase in academic outcomes in the coming years. The turnover rate of staff remained a cause of concern throughout 2024/25. Greenbank tried to provide a competitive wage, but this was difficult at a time when the economy was heavily affected by increased utility costs; increased employer national insurance costs and rising wage demands. Improvement in staff retention, however, did indirectly lead to an overall increase in student achievement from 69.2% in 2023/24 to 81.6% in 2024/25. The functional skill rates also saw an increase, with the rate in 2024/25 being 66.2%, almost a 20 percentage point improvement on the 2023/24 rate. Study programme progression rates remain stable at 88.2% in 2024/25 increase of 1.6% from the 2023/24 figure.

College achievement rates

llege achievement rates
2021/2
2		 2022/23 2023/2
4		 2024/2
5
Overall Achievement Rates 66.4% 80.3% 69.2% 81.6%
LLDD Achievement Rate 68.2% 81.4% 69.3% 80.6%
Functional Skills English and Mathematics 65.7% 60.3% 47.8% 66.2%
Number of LLDD Students 122 116 130 137
Study Programme Destination (Positive Progression) 85.5% 90.7% 86.6% 88.2%

Ofsted

The annual college Self-Assessment Report was completed in February 2025 and approved by the Board of Trustees. As part of an ongoing process, the subsequent Quality Improvement Plan was produced in alignment with the Strategic Framework and contained comprehensive actions for development which were formally reviewed and updated by the Head of College, up until the Ofsted monitoring visit, which took place on 21 & 22 May 2025.

Ofsted’s findings were disappointing; The Greenbank Project was judged as making ‘ insufficient progress’ in five of the six areas reviewed. Although leaders had started to address areas for improvement, they were not fully embedded at the time of the visit and progress was found to be too slow. In response Greenbank has had two meetings with ESFA / DfE and has submitted a Post Inspection Action Plan, which details actions being taken to address the Ofsted findings. A full Ofsted inspection against the new framework is expected to take place between January and July 2026.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Linking Learning and Work

Greenbank College employs a Student Recruitment and Marketing Coordinator whose role is to develop links with local employers, higher education settings, and voluntary agencies to secure relevant work experience opportunities for students. Making clear links between classroom learning and the workplace is a central and extremely important element of Greenbank College’s work.

Two key problems during 2024/25, which continued to hinder potential employment partners was the ever-rising energy costs and high inflation rates that have also led many businesses to focus solely on maintaining their operations, which has contributed to a shortage of placement opportunities available to the college. Secondly, the Information Technology sector continues to be a challenging area for finding placement providers. This is largely due to the nature of IT work, which is often freelance-based or remote, a trend that has increased significantly since the COVID-19 pandemic. The rise in remote working has continued to hinder the onboarding of potential employment partners, as traditional placement models are more difficult to implement in this sector. Despite ongoing challenges, the Student Recruitment and Marketing Officer successfully onboarded two new IT-based placement providers. Both organisations delivered meaningful placement experiences and guest speaker talks to students and have expressed a strong interest in continuing their collaboration into the next academic year. With this continued support, an increase in student placement participation is anticipated next in the next academic year.

Despite these challenges, Greenbank worked closely with 37 active employer partners to ensure students benefited from a wide range of placement opportunities, workplace exposure, and professional talks. During the 2024/25 academic year, a total of 99 work placements were completed by 66 students across various departments at Greenbank College, compared with 39 placements in 2023/24. This represents a 154% increase on the previous academic year and accounts for 44% of all students. In addition, 74% of Foundation students accessed at least one work experience opportunity. These placements form an integral part of students’ personal and professional development, providing valuable real-world experience aligned with individual learning goals and career aspirations. A variety of work placement opportunities are available to meet the diverse needs of learners, including external work placements, internal placements, and student ambassador roles.

Careers and Personal Development

Personal guidance at Greenbank College is delivered through in-depth one-to-one meetings with a Level 6 qualified Careers Advisor. Access improved significantly, with 96 guidance meetings delivered to 93 learners in 2024/25 (58% of the cohort), representing a 70% increase on the previous year. In addition, our Careers Advisor conducted 118 pre-enrolment interviews to support the onboarding process, resulting in the enrolment of 88 new starters.

The quality and impact of our personal guidance and careers programme was confirmed through a successful allcollege Matrix Assessment (March 2025).

Greenbank College’s enrichment programme makes a strong contribution to learners’ personal development, supporting confidence, independence and social awareness. In 2024/25, 121 learners participated in enrichment activities, with additional engagement from foundation learners through bespoke curriculum provision. The programme has expanded significantly, increasing from 5 activities in 2023/24 to 18 in 2024/25. This breadth reflects the college’s commitment to meeting diverse learner interests and developmental needs.

Every autumn, students are encouraged to join the student council to represent the student voice and foster democracy, inclusion and citizenship. In 2024/25 there were 9 permanent members of the council representing learners from all pathways, with 7 of those attending weekly meetings and making regular contributions. This compares to 7 permanent members in 2023/24 with 3 active members attending periodic meetings.

Supported Internships

Looking at the destinations of the 13 learners who completed a supported internship through Greenbank College in 2024/25, 5 secured employment (39%), 3 volunteered (23%) and one of these volunteers has a very solid prospect of paid work after December 2025. The remaining 5 interns are actively seeking employment (38%) with the support of a follow-on job coach.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

The Kinsella Suite

The Kinsella Suite provides a first-class realistic working environment for our young people aged 16 – 18 and up to 25 if they have an EHCP in place. It has two small conference rooms for hire, along with four en-suite bedrooms.

The facility is used as a training facility for high-need students, giving them both the skills and work experience to enable them to secure employment in this area of the local economy. During 2024/25, the hotel chain, Leonardo’s, working closely with Greenbank tutors, designed a taster programme linked to the back-of-house hospitality sector, housekeeping role.

For those students on a Foundation Learning programme, the Kinsella Suite was used to help them practice their independent living skills. This continued to be an integral part of their learning programme in 2024/25, when students had regular sessions, learning everyday skills, such as making toast and hot drinks, hoovering and general cleaning. The Kinsella Suite was never intended to be a major source of income; however, we are pleased to report that the Kinsella Suite raised an additional £10,429.92 between August 2024 and July 2025 of unrestricted funds for the charity.

Graduation Ceremony

Greenbank held its second student Graduation Ceremony in the 2024/25 academic year. This was a low-key event, reflecting the individual needs and circumstances of our students, many of whom were foundation learners.

The ceremony was held in the Kinsella Suite and celebrated the achievements of 78 learners. Students enjoyed the opportunity to reflect on and celebrate their time and individual journeys at the college. Each student received a personalised message from the CEO, highlighting their achievements and progression during their learner journey.

Of the 78 students leaving Greenbank in 2024/25, 38 progressed to further learning at another education provider, 15 progressed into paid employment, 1 student progressed onto an apprenticeship, and 7 students moved into volunteering opportunities

Awards Ceremony

A 2024/25 awards ceremony was held on the last day of term. The Leader of Liverpool City Council, Councillor Liam Robinson attended the event to present our students with their end of year awards.

Include I.T. Digital Inclusion

During the year, Greenbank continued as a partner organisation on the Include-IT Mersey digital inclusion project. Led by Sefton CVS and VOLA Consortium, Greenbank delivers essential digital skills training to digitally excluded residents of the city region.

Following six years of European Social Fund and National Lottery Community Fund funding, since 2023 the project has been funded by the Government’s UK Shared Prosperity Fund (UKSPF), which runs until March 2026. The project is aimed at increasing digital skills, confidence and connectivity of disadvantaged, digitally excluded residents of the Liverpool City Region.

This year Greenbank has supported a further 33 people to develop basic IT skills, taking the total number supported through UKSPF-funded phase of the project to 74.

Greenbank has worked with a range of partners, new and old, including Wirral Mencap, Wirral Change and Sefton at Work to ensure the new project reaches those who need it most.

The majority of learners have been Wirral and Sefton residents (two of our primary target areas). 82% were from an ethnic minority background – the majority of which refugees and asylum seekers, 67% female, 48% aged 50+ and 15% reporting a disability, learning difficulty, or long-term health condition. 75% of learners went on to complete their programme of study and 61% moved from economic inactivity to active job-search as a result.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Greenbank Sports Academy – Overview

Greenbank Sports Academy continues to be the primary delivery arm for inclusive sport, physical activity and community leisure within the Greenbank organisation. During 2024–2025, the Academy operated in a high-demand environment, balancing sustained participation, ongoing inequalities in access, workforce pressures and planned facility disruption linked to essential capital improvements. A Quest Plus quality standard review was completed on 25th July 2025 and overall assessment was rated as Good. The assessment highlighted a number of observations including that ‘The Academy provides accessible sports and wellbeing activities for people of all abilities, particularly those with disabilities or additional needs, supported by specialist equipment and experienced coaches.

Facility Development and Modernisation

Modernisation of the Sports Academy remained a strategic priority during the year, including sports hall LED lighting upgrades and continued development planning for wider accessibility improvements including upgrades to sports hall floor, sporting equipment, toilets and changing room facilities.

Inclusive Activity Programme

The Academy offered a comprehensive weekly programme of inclusive sport including boccia, table tennis, inclusive cycling, powerchair football, power hockey and rebound therapy, supporting disabled people and those with longterm health conditions.

‘The idea of going to a mainstream gym with no help was off putting …. My mental health has improved. My movement, balance and strength have all improved. I’m not as scared of falling over…. I’ve also enjoyed making friends.”

‘It keeps me active’.

‘Gives me a bit of hope to ease my symptoms’.

The Access to Exercise and Wellbeing programme continued to be offered in collaboration with partners. To date, the project has successfully recruited 82 participants to the evaluation and attracted 160 new members. Of the evaluation sign-ups, 58 have completed their 3-month follow-up assessments, and 21 have gone on to complete their 6-month follow-up. Greenbank itself has continued to provide support to the 60 plus members who live with a neurological condition.

Greenbank and Brain Charity together have worked to engage with the new Active City Liverpool strategy and offered to host a strategy launch in Liverpool for people with neurological conditions.In addition, since November 2023

Greenbank has also become a partner in a University of Birmingham led study on community-based Arm-Crank exercise training programme to enhance physical activity and quality of life for adults with Spinal Cord Injury and identified neurological conditions. Study, which was completed at the end of November 2024 demonstrated arm cranking exercise can be successfully delivered in a group class format for individuals in the community with a physical impairment. A minimum of 16 sessions of high-intensity interval training over 8 weeks improved fitness and mental health, with a positive effect on strength. Additional health-related benefits were observed, such as better bowel routine, sleep quality, and pain management. We see this programme developing to support wider access to exercise classes and expanding to sites where spin classes are evident.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Power Hockey Review – August 2024 to July 2025

During the reporting year, Greenbank Sports Academy continued to play a leading role in the development of power hockey locally and nationally. Supported by Sport England funding, including continued investment in a Power Sport Business Manager and hub development, the year saw strong participation growth and competitive success.

The Greenbank Power Hockey Club regularly supported 12–15 players per weekly session. The Greenbank Bears Power Hockey Team won the British Power Hockey Championships, hosted at Greenbank Sports Academy in June 2025.

A major development was the launch of a new Power Hockey Hub at Hereward College in Coventry. Through Sport England funding, eight power hockey chairs were provided alongside workforce training delivered with support from the GB Power Hockey Association.

The GB Power Hockey Association, a disabled person-led organisation, continued to expand its national impact, delivering competitions and taster sessions that introduced hundreds of disabled people to the sport. Overall, 2024– 2025 has been a highly successful year for power hockey, with Greenbank remaining at the forefront of national development.

Project and Funding

Greenbank Sports Academy benefited from a range of funding sources from charitable foundations, partnership funding, lottery and statutory organisations including:

Sporting Event Highlights – August 2024 to July 2025

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Sports Hall, Gym and Power Sport Memberships

Sports hall utilisation and revenue grew from the previous reporting year. Between 1st August 2024 and 31st July 2025, the gym recorded 8230 check-ins. It had an average of 159 active gym members per month. Power Sport memberships reached a core of 28 annual membership plans. The sports hall and gym generated an average monthly rental of ££16,872.70. During the 2024-25 reporting year the sports hall had 3562 unique events, ranging from casual football to regional, national and international major events.

Elite Athlete Headline Achievements

Elite Athlete Support at a Glance:

Paralympians: Abdi Jama, Harri Jenkins, Hannah Cockroft, Nathan Maguire, Sammi Kinghorn. International athletes : Marcus Harrisson, Samuel Kolek, James Dixon

Major Competition Level for Elite Athletes Contributed towards

Impact

Greenbank Sports Academy has continued to operate as a trusted high-performance training environment, supporting athletes competing at the highest levels of disability while maintaining a strong connection between elite pathways and inclusive community provision. Athletes and staff have supported several disability-led education partnerships with Liverpool University third year doctor students, Edge Hill University, Liverpool Hope University and Liverpool John Moores University. These allow for direct impactful stories and first-hand experiences of pathways into sport and ways in which community provision has supported individual achievements and life stories.

Looking Ahead

Priorities for 2025–2026 include managing capacity pressures, completing accessibility upgrades, strengthening workforce resilience, and continuing local, regional and national leadership in exercise, disability sport and power sports.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Financial review

For the year ended 31 July 2025 , The Greenbank Project reported a total income of £2,974,539 (2024: £2,360,894). This represents a significant increase on the prior year and reflects higher levels of funding received across both education and sports-related activities. In particular, the charity benefited from increased ESFA/DfE 16–19 programme funding and higher levels of support from local authorities for learners with additional needs. Additional restricted grant activity within the Academy also contributed to the uplift in income.

Expenditure totalled £2,964,556 (2024: £2,696,308), with the majority of costs relating directly to charitable service delivery across Greenbank College and Greenbank Sports Academy. Staff costs remain the charity’s most significant single area of expenditure, representing the resource required to support learners, deliver inclusive sports programmes and maintain the breadth of activities provided. Expenditure increased year-on-year, despite a reduction in average employee numbers, reflecting a greater reliance on agency and sessional staffing to maintain service levels in areas affected by recruitment challenges. The trustees and senior management team continue to monitor workforce planning closely to minimise cost pressures while ensuring continuity and quality of provision.

Overall, the charity generated a net surplus of £9,983 for the year (2024: deficit of £335,414). This surplus was predominantly driven by restricted activities, which delivered a positive contribution of £70,105 (2024: £35,069). These funds supported the delivery and expansion of targeted programmes across the College and Sports Academy. Unrestricted funds recorded a net deficit of £60,122 (2024: deficit of £370,483), reflecting the continued cost pressures on core operations and the ongoing need to strengthen unrestricted reserves.

At the year end, total funds increased to £4,818,383 (2024: £4,808,546), comprising £4,683,209 of unrestricted funds and £135,174 of restricted funds.

Currently the cash assets of the charity are held in three bank accounts (current accounts held with the Cooperative and Barclays Bank, and a savings account held with the Charitable Aid Foundation (CAF)).

The trustees consider the financial performance for the year to be satisfactory. While unrestricted activities reported a deficit, the overall financial position remains robust, supported by significant restricted funding streams and continued demand for the charity’s services. The trustees remain committed to strengthening unrestricted reserves - - over the coming years to ensure long term resilience and the continued delivery of high quality services.

Fundraising

The trustees confirm that any fundraising carried out complied with relevant standards and that the charity did not engage professional fundraisers or commercial participators. The trustees confirm no complaints have been received.

Support

Greenbank is fortunate in having an experienced, knowledgeable and loyal workforce (both paid and voluntary) with a passion for meeting the needs of the people that it serves.

Thank you to our funders, patrons, students and participants for their support in 2024/25.

Going concern

The charity continues to receive its principal funding from the Education & Skills Funding Agency and Local Authorities, and projected levels of funding for the forthcoming year are consistent with those received in previous years. Forecasts prepared by management indicate that the charity will maintain adequate cash reserves throughout the period under review.

While certain cost pressures exist, including higher sessional staffing costs and some increases in overheads, these have been reflected in the projections and are not considered to threaten the charity’s ability to meet its liabilities as they fall due. Loan repayments remain modest and within forecasted cash headroom.

On this basis, and having reviewed the forecasts and assumptions, the trustees consider there to be no material uncertainties that cast significant doubt on the charity’s ability to continue as a going concern, and the financial statements have therefore been prepared on a going-concern basis.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Reserves policy

The Board of Trustees reviews the reserves policy annually to ensure it remains appropriate to the charity’s activities, financial position and risk profile. Holding adequate reserves enables the charity to continue operating effectively, manage financial risks, and respond to unforeseen events without disruption to its services. The trustees consider that unrestricted reserves not committed or designated should be maintained at a level sufficient to cover three to six months of core operational expenditure.

As at 31 July 2025, the charity’s free reserves remain below the target level. The trustees are aware of this position and remain committed to strengthening free reserves over time.

To support this objective, the trustees will continue to:

Although free reserves remain below target, the trustees are satisfied that this does not currently impact the charity’s day-to-day operations due to stable long-term funding relationships and strong financial oversight. The reserves position will continue to be reviewed throughout the year to ensure that the charity remains financially resilient and able to deliver its charitable objectives effectively.

Investment policy

The Board of Trustees have agreed to seek specialist Charity Sector advice and guidance when in a position to consider investments.

Major risks

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to limit exposure to these.

The five-year Strategic Ambitions Plan was produced in spring 2019, for implementation from August 2019. The plan takes account of external risks and overreliance on one stream of funding and covers 2019-2024. The plan has been amended by the Board and extended by a further two years to 2026 to take account of the COVID 19 pandemic. The plan has five overarching strategic ambitions, one being:

"Be a financially strong and sustainable organisation that is an essential and influential partner in achieving the priorities of the Liverpool City Region (LCR)".

Internal risks are minimized through the implementation of an internal financial controls policy, clear line management responsibility, regular senior management meetings, business planning and a system of reporting to the Board of Trustees.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Plans for future periods

In line with Greenbank’s five-year strategic plan, the priorities for the next twelve months include the following:

Structure, governance and management

The charity is a company limited by guarantee (no. 1696490), incorporated in England on 2nd February 1983 and registered as a Charity (no. 513814) on 2nd June 1983. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

At an Extraordinary General Meeting in January 2025 updated Articles of Association were agreed and from 2025 Greenbank has a Board of Trustees of between 3 and 8 members

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Anthony Baines (Resigned 24 February 2026)
Paul Clark
John Gillin (Appointed 15 April 2025)
Emma Hulme
Dr Alan Irving (Chair)
John Lennon (Resigned 28 February 2026)
Nathan Maguire (Resigned 31 March 2025)
Sean Marshall
Teresa Murphy
Darrell Young (Resigned 31 March 2025)

Recruitment and appointment of trustees

New trustees complete a short induction which involves meeting trustee board members and members of the senior staff team and as part of their introduction to the charity, a handbook is made available.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The charity has a Board of Trustees who meet regularly and are responsible for the strategic direction and policies of the charity. Powers of delegation are in place and day-to-day responsibility for the provision and quality of services rests with the CEO and the Senior Management Team.

Qualifying third party indemnity provisions

All trustees are covered by the charity's professional indemnity insurance.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Organisational structure

Sub Committees

Quality of Education (Scrutiny Group) and Finance Sub Committees have met at regular intervals throughout the year and report to the full Board of Trustees.

Recruitment and Appointment

Members of the Board of Trustees who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out in the Legal and Administration information at the front of this document. All trustees are registered as directors with Companies House. Board of Trustees members are elected at the Annual General Meeting (AGM) with one third retiring in rotation according to seniority. Retiring members are eligible for re-election and may serve three consecutive terms of office (if re-elected) and then (for members appointed from January 2025) shall be ineligible to stand for re-election until a period of at least 1 year has elapsed since ceasing to be a Director.

Remuneration policy

The Greenbank Project is committed to ensuring that we pay our staff fairly and in a way which ensures that we attract and retain people with the right skills to have the greatest impact in delivering our charitable objectives.

In determining The Greenbank Project remuneration policy, the Board of Trustees considers all factors which are deemed necessary. The objective of the policy is to ensure that the CEO and staff team are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the charity.

In 2024/25 Greenbank’s Board of Trustees introduced a range of incentives to motivate staff, these included an Employee Assistant Programme, which offers a range of advice and support including counselling and mental health support for both staff and their families, and discounted gym memberships, ensuring that employees mental and physical health is being supported.

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other charities ensuring that The Greenbank Project remains sensitive to the broader factors e.g. pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower – midpoint within any band, providing scope to reward excellence. We do not employ interns without pay.

Delivery of The Greenbank Project charitable vision and purpose is primarily dependent on our staff, which is the largest single element of charitable expenditure.

Auditor

In accordance with the company's articles, a resolution proposing that DSG Audit be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report, including the strategic report, was approved by the Board of Trustees.

Mary Beaumont Company secretary

13 April 2026

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2025

The trustees, who are also the directors of The Greenbank Project for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GREENBANK PROJECT

Opinion

We have audited the financial statements of The Greenbank Project (the ‘charity’) for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE GREENBANK PROJECT

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

Based on our discussions with the charitable company’s management and the Trustees, we identified those laws and regulations considered to have a direct effect on the financial statements including the Education Act 2005, Education and Skills Act 2008, Children and Families Act 2014, UK financial reporting standards and Charity Law.

We also identified those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charitable company and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, fundraising regulations, safeguarding and health and safety legislation.

These matters were discussed amongst the engagement team at the planning stage and the team remained alert to non-compliance throughout the audit.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE GREENBANK PROJECT

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.

This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jean Ellis BA FCA CTA (Senior Statutory Auditor)

For and on behalf of DSG Audit, Statutory Auditor Chartered Accountants Castle Chambers 43 Castle Street Liverpool L2 9TL 13 April 2026

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 22,501 5,252 27,753 3,913 1,186 5,099
Charitable activities 4 307,259 2,639,477 2,946,736 280,897 2,074,796 2,355,693
Investments 5 50 - 50 102 - 102
Total income 329,810 2,644,729 2,974,539 284,912 2,075,982 2,360,894
Expenditure on:
Charitable activities 6 456,402 2,508,154 2,964,556 655,395 2,040,913 2,696,308
Total expenditure 456,402 2,508,154 2,964,556 655,395 2,040,913 2,696,308
Net income/(expenditure) (126,592) 136,575 9,983 (370,483) 35,069 (335,414)
Transfers between
funds 66,470 (66,470) - - - -
Net movement in
funds 8 (60,122) 70,105 9,983 (370,483) 35,069 (335,414)
Reconciliation of funds:
Fund balances at 1 August
2024 4,743,331 65,069 4,808,400 5,113,814 30,000 5,143,814
Fund balances at 31 July
2025 4,683,209 135,174 4,818,383 4,743,331 65,069 4,808,400

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 31 JULY 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 4,821,457 4,962,623
Current assets
Debtors 13 283,682 102,585
Cash at bank and in hand 50,264 75,384
333,946 177,969
Creditors: amounts falling due within 14
one year (215,461) (187,630)
Net current assets/(liabilities) 118,485 (9,661)
Total assets less current liabilities 4,939,942 4,952,962
Creditors: amounts falling due after
more than one year 15 (121,559) (144,562)
Net assets 4,818,383 4,808,400
The funds of the charity
Restricted income funds 18 135,174 65,069
Unrestricted funds 19 4,683,209 4,743,331
4,818,383 4,808,400

The financial statements were approved by the trustees on 13 April 2026

Dr Alan Irving (Chair) Trustee

Company registration number 01696490 (England and Wales)

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from/(absorbed by) 24
operations 105,877 (108,068)
Investing activities
Purchase of tangible fixed assets (97,995) (47,447)
Investment income received 50 102
Net cash used in investing activities (97,945) (47,345)
Financing activities
Repayment of bank loans (22,541) (22,264)
Net cash used in financing activities (22,541) (22,264)
Net decrease in cash and cash equivalents (14,609) (177,677)
Cash and cash equivalents at beginning of year 64,873 242,550
Cash and cash equivalents at end of year 50,264 64,873
Relating to:
Cash at bank and in hand 50,264 75,384
Bank overdrafts included in creditors payable
within one year - (10,511)

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

The Greenbank Project is a private company limited by guarantee incorporated in England and Wales. The registered office is Greenbank Lane, Aigburth, Liverpool, L17 1AG. The nature of the charitable company's operations and principal activities are set out on page 1.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The financial statements have been prepared on a going-concern basis. The trustees have considered the charity’s financial position, cash flows, and forecasts for a period of at least twelve months from the date of approval of these financial statements.

The charity continues to receive its principal funding from the Education & Skills Funding Agency and Local Authorities, and projected levels of funding for the forthcoming year are consistent with those received in previous years. Forecasts prepared by management indicate that the charity will maintain adequate cash reserves throughout the period under review.

While certain cost pressures exist, including higher sessional staffing costs and some increases in overheads, these have been reflected in the projections and are not considered to threaten the charity’s ability to meet its liabilities as they fall due. Loan repayments remain modest and within forecasted cash headroom.

On this basis, and having reviewed the forecasts and assumptions, the trustees consider there to be no material uncertainties that cast significant doubt on the charity’s ability to continue as a going concern, and the financial statements have therefore been prepared on a going-concern basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to special performance conditions and is recognised as earned as the related services are provided. Grant income included in this category provides funding to support performance activities and is recognised when there is entitlement, certainty of receipt and the amounts can be measured with sufficient reliability.

No amount is included in the financial statements for volunteer time.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at the charity's registered office. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Leasehold land and buildings 2% straight line Fixtures and fittings 25% straight line Motor vehicles 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and before it meets the definition of a charitable company for UK corporation tax purposes.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 VAT

The charity is partially exempt for VAT purposes, therefore figures shown in the accounts are included gross subject to any VAT which may be recoverable.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

3 Donations and legacies

Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts
3,001		 5,252 8,253 3,913 1,186 5,099
Grant income
19,500		 - 19,500 - - -
22,501 5,252 27,753 3,913 1,186 5,099
Income from charitable activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
College
Sale of goods
39,329		 - 39,329 29,033 - 29,033
Services provided under
contract
-		 2,454,262 2,454,262 - 1,964,415 1,964,415
Performance related
grants
-		 - - - (7,662) (7,662)
Academy
Sale of goods
267,930		 - 267,930 251,864 - 251,864
Performance related
grants
-		 185,215 185,215 - 118,043 118,043
307,259 2,639,477 2,946,736 280,897 2,074,796 2,355,693

4 Income from charitable activities

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 50 102

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

6 Expenditure on charitable activities

College Academy Total College Academy Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Direct costs
Staff costs 1,646,459 240,565 1,887,024 1,445,864 226,989 1,672,853
Purchases 89,881 5,758 95,639 85,711 4,888 90,599
Rent, rates and water 8,984 17,074 26,058 5,803 11,029 16,832
Travel 1,394 1,994 3,388 1,391 2,238 3,629
Staff training 3,745 1,282 5,027 10,553 2,988 13,541
Student travel 27,281 - 27,281 48,862 - 48,862
Student allowance 26,092 - 26,092 43,515 - 43,515
Student training 47,560 58 47,618 30,893 350 31,243
Repairs and maintenace 190,841 29,831 220,672 147,043 21,621 168,664
Leasing 10,477 - 10,477 7,183 - 7,183
Professional fees 61,450 45 61,495 51,379 5,958 57,337
Protective clothing - - - 1,220 489 1,709
Bad debts - - - 3,122 1,100 4,222
Sundry expenses 240 - 240 6,155 - 6,155
Other charitable costs 14,262 - 14,262 13,942 - 13,942
2,128,666 296,607 2,425,273 1,902,636 277,650 2,180,286
Share of support and governance costs (see note 7)
Support 337,236 188,222 525,458 366,791 136,231 503,022
Governance 6,913 6,912 13,825 6,500 6,500 13,000
2,472,815 491,741 2,964,556 2,275,927 420,381 2,696,308
Analysis by fund
Unrestricted funds 78,418 377,984 456,402 321,191 334,204 655,395
Restricted funds 2,394,397 113,757 2,508,154 1,954,736 86,177 2,040,913
2,472,815 491,741 2,964,556 2,275,927 420,381 2,696,308

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

7 Support costs allocated to activities

7 Support costs allocated to activities
2025 2024
£ £
Depreciation 239,161 226,956
Establishment costs 134,080 119,651
Information technology 45,917 44,438
Office costs 73,188 74,310
Legal and professional 33,112 37,667
Governance costs 13,825 13,000
539,283 516,022
Analysed between:
College 344,149 373,291
Academy 195,134 142,731
539,283 516,022
2025 2024
Governance costs comprise: £ £
Audit fees 13,825 13,000
13,825 13,000
8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 13,825 13,000
Depreciation of owned tangible fixed assets 239,161 226,956

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2024: no trustees).

None of the trustees (or any persons connected with them) received any travel or other expenses from the charity during the year (2024: £nil).

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Operational and training 54 79
Administration 8 3
Finance and management 8 6
Security 2 2
Total 72 90
Employment costs 2025 2024
£ £
Wages and salaries 1,719,911 1,523,354
Social security costs 108,465 90,277
Other pension costs 58,648 59,222
1,887,024 1,672,853

Included in salary costs above are payments to agency workers of £356,957.(2024: £221,173).

The number of employees whose annual remuneration was more than £60,000
is as follows:
2025 2024
Number Number
£60,000 - £69,999 1 1
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 212,881 174,259

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

12 Tangible fixed assets
Freehold land Leasehold
Fixtures and		 Motor Total
and buildings land and fittings vehicles
buildings
£ £ £ £ £
Cost
At 1 August 2024 3,817,104 4,022,696 1,592,274 109,096 9,541,170
Additions - - 97,995 - 97,995
At 31 July 2025 3,817,104 4,022,696 1,690,269 109,096 9,639,165
Depreciation and impairment
At 1 August 2024 1,386,782 1,625,074 1,457,595 109,096 4,578,547
Depreciation charged in the year 76,342 81,115 81,704 - 239,161
At 31 July 2025 1,463,124 1,706,189 1,539,299 109,096 4,817,708
Carrying amount
At 31 July 2025 2,353,980 2,316,507 150,970 - 4,821,457
At 31 July 2024 2,430,322 2,397,622 134,679 - 4,962,623
13 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 29,191 43,496
Other debtors 629 8,686
Prepayments and accrued income 253,862 50,403
283,682 102,585
14 Creditors: amounts falling due within one year
2025 2024
Notes £ £
Bank loans and overdrafts 16 23,309 33,358
Other taxation and social security 31,216 17,452
Trade creditors 108,944 116,274
Other creditors 936 571
Accruals and deferred income 51,056 19,975
215,461 187,630

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

15 Creditors: amounts falling due after more than one year
2025 2024
Notes £ £
Bank loans 16 121,559 144,562
16 Loans and overdrafts
2025 2024
£ £
Bank overdrafts - 10,511
Bank loans 144,868 167,409
144,868 177,920
Payable within one year 23,309 33,358
Payable after one year 121,559 144,562
Amounts included above which fall due after five years:
Payable by instalments 56,020 70,975

Barclays bank holds a first legal charge over the land and buildings of the charity as security for the bank loan and overdraft facility. Interest is charged on the bank loan at 3.54%.

A loan of £50,000 was provided in the year ended 31 August 2021 by The Co-operative Bank under the Bounce Back Loan Scheme which is a UK government scheme to support UK businesses as a result of the coronavirus pandemic. Under the scheme no interest is paid for the first 12 months after which the interest rate will be 2.5%.

17 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 58,648 59,222

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds
Movement in funds		 Balance at
Incoming
Resources
Balance at
Incoming
Resources
Transfers
Balance at		 1 August 2023
resources
expended
1 August 2024
resources
expended
31 July 2025		 £
£
£
£
£
£
£
£		 ESFA/DfE
-
1,546,021
(1,546,021)
-
1,941,254
(1,900,889)
27,230
67,595		 Liverpool City Council (HNS)
-
313,240
(313,240)
-
379,243
(379,243)
-
-		 Knowsley MBC (HNS)
-
9,296
(9,296)
-
9,696
(9,696)
-
-		 Other Local Authorities (HNS)
-
40,060
(40,060)
-
58,379
(58,379)
-
-		 Sports England
-
72,500
(38,031)
34,469
115,000
(21,300)
(93,700)
34,469		 Holiday activity fund
-
19,475
(19,475)
-
19,000
(19,000)
-
-		 Other
30,000
75,390
(74,790)
30,600
122,157
(119,647)
-
33,110		 30,000
2,075,982
(2,040,913)
65,069
2,644,729
(2,508,154)
(66,470)
135,174		 Education, Skills Funding Agency (ESFA) / Department for Education (DfE) This represents core funding provided by the ESFA/DfE to cover the college running costs. Higher Needs Support (HNS) Funds High needs support funding supports students with specific learning needs through small classes, learner support, welfare, equipment etc. Sports Englandprovide funding for the Power Hockey Development project. Holiday Activity Fund A grant from the local authority to deliver holiday activities and a food programme.
18
Restricted funds
(Continued)		 Other restricted funds Included in other funds are the following: JMU (Liverpool John Moores University) JMU (Liverpool John Moores University) Capital funding provided to enable Greenbank’s sports hall lighting to be upgraded to LED and enable a smart lighting control system used to manage and automate lights wirelessly LCVS (for boiler project) LCVS (for boiler project) Capital funding contribution towards essential infrastructure improvements, specifically supporting the replacement/upgrade of the Academy’s boiler system to ensure safe and efficient facility operations. Liverpool City Council (LCC) Funding support towards community sport and play initiatives, including inclusive programmes and local participation opportunities aligned to city-wide health and wellbeing priorities. The balance brought forward at 1 August 2023 and carried forward at 31 July 2025 represents monies received from the Peter Harrison Foundation for funding towards the refurbishment of academy changing rooms. Transfers A transfer of £27,230 has been made into the restricted fund during the year. This relates to unspent free school meal and bursary allocations from the prior period, identified during the reconciliation of historic allocations and carried forward for use in accordance with the original fund restrictions. A transfer of £93,700 has been made from restricted funds to unrestricted funds to reflect the purchase of fixed assets financed from restricted income in the year. A transfer of £93,700 has been made from restricted funds to unrestricted funds to reflect the purchase of fixed assets financed from restricted income in the year.
18

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August At 1 August Incoming
Resources
Resources		 Transfers At 31 July At 31 July
2024 resources expended 2025
£ £ £ £ £
Tangible fixed asset fund 4,822,622 - - (128,694) 4,693,928
General funds (79,291) 329,810 (456,402) 195,164 (10,719)
4,743,331 329,810 (456,402) 66,470 4,683,209
Previous year: At 1 August Incoming
Resources		 Transfers At 31 July
2023 resources expended 2024
£ £ £ £ £
Tangible fixed asset fund 4,989,731 - - (167,109) 4,822,622
General funds 124,083 284,912 (655,395) 167,109 (79,291)
5,113,814 284,912 (655,395) - 4,743,331

Tangible fixed asset fund

In order to accurately show the reserves tied up in fixed assets held by the charity, a designated tangible fixed asset fund has been created representing assets used operationally by the charity net of loans secured on them. This fund includes assets acquired with historic capital grants. As these grants have been expended in line with the conditions of funding, this has discharged the restriction on them, and therefore they have been transferred to unrestricted funds.

20 Analysis of net assets between funds

Unrestricted Restricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 July 2025:
Tangible assets 4,821,457 - 4,821,457
Current assets/(liabilities) (16,689) 135,174 118,485
Long term liabilities (121,559) - (121,559)
4,683,209 135,174 4,818,383

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

20 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 July 2024:
Tangible assets 4,962,623 - 4,962,623
Current assets/(liabilities) (74,730) 65,069 (9,661)
Long term liabilities (144,562) - (144,562)
4,743,331 65,069 4,808,400

21 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025 2024
£ £
Within one year 5,166 4,831
Between two and five years 9,229 11,841
14,395 16,672

Lessor

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

2025 2024
£ £
Within one year 2,500 2,500

22 Contingent liability

Included within restricted funds at 31 July 2025 is £67,595 relating to free school meal and bursary allocations carried forward from prior years. Under the terms of the funding arrangements, any amounts remaining unspent at 31 July 2026 may be repayable to the funder. As at the reporting date, no provision has been recognised in these financial statements based on the trustees’ assessment.

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

23 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Two trustees donated a total of £1,056 to the charity during the year.

Other related party transactions:

During the year, the Greenbank Project made purchases for equipment totalling £93,700 (2024: £45,000) from Powersport Engineering CIC. At the year end £nil (2024: £nil) remained outstanding.

Powersport Engineering CIC is a community interest company and is deemed to be a related party in which Greenbank Project has significant influence over by virtue of being its main customer and employing one of its directors, Peter Wyman.

24

Cash generated from/(absorbed by) operations 2025 2024
£ £
Surplus/(deficit) for the year 9,983 (335,414)
Adjustments for:
Investment income recognised in statement of financial activities (50) (102)
Depreciation and impairment of tangible fixed assets 239,161 226,956
Movements in working capital:
(Increase) in debtors (181,097) (15,134)
Increase in creditors 37,880 15,626
Cash generated from/(absorbed by) operations 105,877 (108,068)

THE GREENBANK PROJECT COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

25 Analysis of changes in net (debt)/funds

Analysis of changes in net (debt)/funds
At 1 August 2024 Cash flows At 31 July 2025
£ £ £
Cash at bank and in hand 75,384 (25,120) 50,264
Bank overdrafts (10,511) 10,511 -
64,873 (14,609) 50,264
Loans falling due within one year (22,847) (462) (23,309)
Loans falling due after more than one year (144,562) 23,003 (121,559)
(102,536) 7,932 (94,604)