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Stepping
Stone
IIuii¢'m
ANNUAL REPORT
2023124
Stepping Stone Projects
Email.. central@stepping-stone.org.uk
Tel.. 01706 353000
Stepping
Stone
Projects

v. TABLE OF CONTENTS '
Infonnatlon......................,........,....
j.pt,.% How is SSP governed and managed.............. .
Striving to be the best- Sue Ashby ..................... .. . .
What IS the purpose of SSP?.................................
l Human Impact- Customer Stories -.... .
J Chief Executive and trustees summary of 2023-24
At a glance our.SSP 2023124.,
.10
Our new Blackburn Projects ;.......
.11
Other new projects............ . .
.12
Our new strategic plan and vision..
.13
'* Campaigns to prevent and combat homelessness and change policies..
.14
Concluslon ...................... ..
.15
,r-¥'.i Financial review.......
.16
,* Trustees responslbilities..........
.18
Independent Auditors. report................................................ ..... .
19
Statement of financial activities.. year ended 31 March 2024..................................
.21
Balance sheet: as at 31 March 2024 ..
.22
Statement of cash flows . year ended 31 March 2024 .........
23
Notes to the accounts .
24
14¥ ¥,:;1.:1'

INFORMATION
Chair
Company Secretary
Mr Christopher Tait
Ms S Ashby
Charity Trustees
Ms Susan Ashby
Mrs Janet Hardwick
Mr David Berry
Mr Nicholas Cox
Mr Alexander Lyons
Mr Steven Grycuk
Mr Colin Royle
Ms Kelly Webb
Ms Elizabeth Lilley
Ms Michaela Orr (appointed 28.02.2024)
Chief Executive Officer
Mr Dave Smith
Company Number
2647645
Registered Charity Number
1004375
Reglstered Office
2 The Quadrant. Green Lane, Heywood OL10 1NG
Auditors
BK Plus Audit Limited, Sterling House, 501 Middleton Road, Chadderton, Oldham, OL9 9LY
Bankers
Bank of Scotland, Ground Floor, Teviot House, 41 South Gyle Crescent, Edinburgh,EH12 9DR
SoliGitors
Wrigley Claydon, 29133 Union Street, Oldham, OL1 1 HH

HOW IS SSP GOVERNED AND MANAGED
The Trustees, who are also directors for the purposes of the Companies Act, present their report and
audited financial statements for the year ended 31 March 2024.
Structure
stepping Stone Projects is a company limited by guarantee, its governing document being its
Memorandum and Articles of Association. The company was incorporated on 20 September 1991
(company number 2647645) and is a registered charity (number 1004375).
The directors of the company are its Trustees for the purposes of charity law and under its
Memorandum and Articles of Association are collectively referred to throughout this report as The
Board of Trustees.
The Charity's principal objectives are to relieve persons who are homeless or in necessitous
circumstances.
Governance
Stepping Stone Projects has a Board of Trustees of up to fourteen members, who are responsible
for strategic direction and policy. At present the Charity has ten members from a variety of
professional backgrounds relevant to the work of the organisation.
The Trustees during the year were:
Ms Susan Ashby
MrAlexand8rs Lyon
Mr David Berry
Ms Janet Hardwick
Mr Nicholas Cox
Ms Kelly Webb
Mr Colin Royle
Ms Elisab8th Lilley
Mr Steven Grycuk
Ms Michaela Orr
Under the requirements of the Charity's Memorandum and Articles of Association the Chair is
elected annually. Other members of the Board of Trustees are elected for a period of three years,
after which they must be re- elected at the next Annual General Meeting.
The Board of Trustees meets every six weeks with the agenda focus alternating be￿een strategy
and compliance l assurance activities. In addition each trustee serves on one of our sub-
committees (Finance and Remuneration; Risk and Compliance) both of which meet quarterly.
A fresh recruitment process was undertaken in earfy 2024. following interview 14s
Michaela Orr was approved as a trustee and attended the January 2024 meeting as
an observer.
The appointment was unanimously formally approved by trustees at the 28th .
February 2024 Board meeting. We are delighted to welcome Michaela as a new
trustee and as our first ever former customer on our Board.

Management
Day-to-day responsibility for the provision of seniices is delegated to the Senior Leadership
Team consisting of a Chief Executive, Director of Operations, 2 x Assistant Director of
Operations, a Director of Resources and temporarily our Digital Transformation Specialist,
none of whom is a director as defined by company law.
Systems of internal controls are designed to provide reasonable, but not absolute, assurance
against material misstatement or loss. They include:
A strategic plan, annual delivery plans and budget approved by the Trustees.
Regular consideration by the Trustees of operational service delivery and financial
results. variance from budgets, non-financial performance indicators and benchmarking
reviews"
Delegation of authority and segregation of duties.,
Identification and management of risks.
The Trustees have introduced a formal risk management process to assess business risks
and implement risk management strategies. The risk strategy policy comprises..
An annual review of the risks the Charity may face.,
The establishment of systems and procedures to mitigate those risks identified in the plan.,
The implementation of procedures designed to minimise any potential impact on the
Charity should any of those risks materialise.
An element in the management of financial risk is our reserves policy and its annual review by
the Trustees.
Training
Any new Trustees are invited and encouraged to attend a series of short induction sessions to
familiarise themselves with the Charity and its workings. The Chair and the Chief Executive of
the Charity jointly lead these sessions which include details of:
The fiduciary responsibilities of the Board of Trustees under charity and company law.,
The operational framework of the Charity and its decision-making process.,
The contents of its Memorandum and Articles of Association.
The Business Plan which sets out its future plans and objectives" and
The latest set of statutory account5.
Use is also made of various Charity Commission publications, in particular "The Essential
Trustee" guide, which is included in the information pack sent to all new and potential
Trustees. New Trustees are encouraged to feed back to the Chair on the induction process.

LIFE BEGINS AT 40- STRIVING TO BE THE
BEST
Chair ofthe Board ofTrustees, Sue Ashby
This year we are celebrating the 40th anniversary
since the formation of Stepping Stone Projects.
During this time we have grown from providing just 2
properties for rough sleepers irb 1984 to now havirsg
nearly 800 properties in our management,
supporting c1.500 customers per annum, with c185
employees and a turnover of c£12m.
Having now been a trustee of Stepping Stone
Projects for the last 26 years and Chair for the last
25 years, l am extremely proud of what we have
delivered and achieved but also that we have stayed
true to our purpose, mission and vision.
As a charity we remain fully independent and totally
focused on preventing and combatting
homelessness. By doing this we are now in a position to help so many more people to support
them to live independently, thrive and to transform their lives.
2023IZ4 wasi yet again, another memorable and on the whole successful yearfor
SSP. We believe we have made great strides forward over this and the previous few
year5. This year we have continued to grow (more than we planned as we took over
2 larye services in Blackburn), we have improved further on overall customer and
colleague satisfaction levels to now be 98010 and 870/0 respectively and we have
invested more into digital transformation, Improving our homes and seNices,
colleagues development and health and well-being and into adding more social,
value to everything we do,
Despite challenges from the national housing crisis and economic pressures, SSP is dedicated to
ending homelessness by 2034 with the support of its community, partners, and stakeholders.

WHAT IS THE PURPOSE OF SSP?
Objectives and activities for the public benefit
The Memorandum and Articles of Association were reviewed and some minor amendments
were agreed and ratified by Trustees in June 2021. Following consent from the Charity
Commission to the minor changes to the objects of the charity, the new documents were
registered with Companies House and the Charity Commission.
The Charity's principal objectives as set out in its Memorandum of Association are to relieve
persons who are homeless, threatened with homelessness. vulnerable or in necessitous
circumstances by:
a) Providing an advice and counselling service in matters relating to housing and
associated social and economic problems., and
b) Providing temporary and permanent accommodation or assistance in the provision of
permanent accommodation and housing-related support and intensive management
services for such persons.
Our mission is to prevent homelessness. support independence, and transform lives. We
achieve this by providing readily accessible support services to assist customers in securing
and maintaining their own independent accommodation as soon as they are able.
We believe that everyone has a right to quality accommodation and services which help them
to achieve their optimum level of independence. We believe that in providing homes and
services we are complying with our duty under the Charities Act and acting in accordance with
Charity Commission guidance on public benefit.
Moving into one of our A
Bed Every Night properties
helped Joanne to develop.,
her independence and
secure long-term
accommodation with the
support she needs.
She's now applying for &,.è:
suitable homes weeklyi and
is producing artwork and ..
poetryi which has been *: t:
shown at local events.

OUR NEW STRATEGIC PLAN AND VISION
Our previous 5-year strategic plan, devised in 2020 and due to be completed by 2025, has now
largely been delivered. Therefore our strategic plan was reviewed by our Board in 2023 in close
consultation with our colleagues. The Board have agreed to simplify our mission statement based,
on colleague feedback, to now be..
It is SSP'5 mission to
Prevent homelessness
Support independen
Transform lives
The Board also agreed that our new 10-year vision from 2024 to 2034 needs to be more ambitious
and externally focused to meet the wider needs of our homeless or at risk of homeless customers
and the needs of our commissioners and comrnunities in the North-west.
The Board have now agreed our new vision to be:
Together we can end homelessness by 2034.
Our Corporate Strategic Plan
2024- 2034
VISION
,K41SSION
Tooetlier we can
eiid lioinelessiiess
by 2034
DYe',.'eri r I"ii);"nc IEbiiiesS
.u'rrJr>i't
j￿￿7￿1)d￿ricF
Tra n.')ti)ri'ii Iivg.¢
Stepping
Stone
Prolecis
BEST FOR
VALUES
CLlSt.omei"s
LLilleagLies
Pai'tners
B&'sines
PRIDE
Pi'r'rLascional
Respectful
Di( I-13mic
E&CC.Ileni

HUMAN IMPACT- Customer Stories
A stable home after 10 years
After 10 years of short stays in temporary accommodation, Steven (name changed for anonymity) came to
Cherry Bridge Lodge. one of our Grouped Supported Accommodation Projects in Blackburn. Our colleagues
helped him to secure a deposit through Blackburn and Darwen Borough Council's Housing Benefit Team (a
Discretionary Housing Payment), and supported him to move inlo his own property in an Independent Living
Scheme.
steven was also able to access money from the SSP hardship fund, IA pot of funding to help the customers
disproportionately affected by the cost of living crisis), to buy a sofa, a fridge-freezer and a £200 shopping
voucher.
Support to gain experience
Liam moved into our Stap Forward Hyndburn Grouped Accommodalion Project in May 2023 after periods of
living in hoslels and sleeping in a tent through the winter. Our Employment Support Advisor. worked with him
to identify his goals and aspirations and then, supported him to enrol in a Level 2 Railway Engine8ring
course via Changing Lives. Upon completing the course he was offered a full time paid position at McGinley
Support Services to hone his skills further.
Liam thrived working on the tracks and his college commended his 'exceptional performance and rapid
progression, as 'testaments to his hard work,. Thanks lo the combined support from our Employment,
Education, Training service and supported housing teams at SSP, he was able to gain experience working
in his dream field and has achieved his goal of securing a permanent job working for Network Rail.
SSP Apprenticeships
At 18, Hannah became homeless after her foster parents were no longer legally responsible for her and her
biological mother had passed away. Despite these challenges she maintained hef ambitions and enrolled at
university in Leeds, which also provided temporary housing. After graduation, she was no longer eligible for
the university accommodation she had been living in and so became homeless again. The prospect of being
homeless Significantly impacting her mental health.
Hannah sought help from the housing options support services team in Leeds but was turned away due lo
having no local connection. Later, she secured accommodation with YMCA Pendle dispersod housing and
received support from Stepping Stone Projects and our dedicated Employment Support Advisor. After
significant support from the organisalion, Hannah was offered an apprenticeship with SSP, increasing her
income so she could afford her own self-contained and independent, long term property.
The apprenticeship with SSP provided stability and structure. It also provided the opportunity for Hannah to
thrive, have purpose and work towards a future of her own choosing. After 12 months, Hannah achieved a
distinction and secured a full-time job role with SSP, allowing her to maintain her independence.

CHIEF EXECUTIVE AND TRUSTEES
SUMMARY OF 2023124
Despite challenges from the national housing crisis and economic pressures, SSP is dedicated to
ending homelessness by 2034 with the support of its community, partners, and stakeholders. As
well as celebrating our 40th anniversary, everyone at Stepping Stone Projects are also delighted to
celebrate our long standing Chair, Sue Ashby, recently announced award of an MBE after 26 years.
service to SSP, homelessness and charity work. This honour is so well deserved and a testament
to a51 that Sue has achieved and helped lead SSP to deliver over such a long period of time. SSP,
fellow trustees and our colleagues are all so proud to have Sue as our Chair. Thank you Sue, and
congratulations for all you have done and continue to do for us.
Following 4 years of substantial growth SSP have concentrated our efforts on continuing to deliver
our vision to be the best, by achieving our 2023124 delivery plan priorities of delivering..
More homes and service capacity to help more people in need,
Digital transformation and other service improvements,
Increased customer and colleague satisfaction,
Continued sustainable business growth,
More investment into colleague development and health and well-being, and
Increased added social value for our customers and communities,
SSP have continued to be successful in delivering against all of these objectives, whilst adapting to
our continually more difficult operating environment, the ever-growing need and demand for our
homes and services and the increasing uncertainty we are all facing.

AT A GLANCE OUR SSP 2023124
Providing New
Homes and Services
Sustainably Growing
Our Business
203 homes brought into our
management
9 new services set up
14 new build homes on site
63 other new homes in
development
Increased turnover: c£10m to
c£12m
Now employing c185 FTE'S (incl.,
agency and temporary posts)
Further Surplus of £141k delivered
Reserves increased to £S.4m
Ofsted registration achieved June
2024
Improving
Services
Developing Our
Colleagues
Customer Satisfaction
increased to 98/
Colleague Satisfaction
increased to 87/
Partner Satisf action at 90Y
Satisf action with homes over
New Ofsted accredited training
courses in progress for young people
services
Acorn traininé completed by 81
frontline support workers
IHASCO on line training for colleagu&s
Coroners Court and other compliance
training completed by managers
Enhanced Health & Well-Being
Programme
Digital
Transformation
Adding Social
Value
New customer Home2Home free
Shop set up with Dunelm donations
helped 94 customers set up home
Customer Clothing store with
Sports Direct and BooHoo
donations provided essential
clothing to 42 customers
SSP £50k Hardship Fund spent
supporting 158 customers with
cash grants
600 free SIM cards provided for
customer8 to use
Employment and training advice
provided to 120 customers
5 apprentices and 1 graduate
trainee in post
4 apprenticeships completed and
now permanently employed by SSP
5 volunteer8 engaged in
Home2Home
CDP IT system upgraded
& new HOAMS integrated
housing management
system introduced
BoardEffect and
Togetherly IT system
implemented
Prodo Customer Portal
procured and in
development
Handheld tablet
technology and docusign
being piloted
Wif i for customers
introduced at all of
grouped schemes

OUR NEW BLACKBURN PROJECTS
Among our many successes. early in 2023124 we entered into negotiations with Auckland Home
Solutions (AHS) and Blackburn with Darwen Council to take-over the management and support
services for two failing projects. These are the 2 largest individual grouped schemes we have ever
managed (by a considerable margin), conslsting of 64 and 40 bedroomed HMO'S where meals were
also provided to customers. This was
potentially a big risk for SSP but our
Board of Trustees felt we had all the
skills and experience needed, to try to
ensure this accommodation remained
available to homeless people needing
support and that transformational
property and service improvements
were quickly delivered,
Beiore
Working closely with the AHS and the Council we
successfully completed the takeover in June 2023 and
immediately
set
about
improving both the
accommodation and the services for customers and
providing them with customer kitchens to help them
better prepare for independent living. After a lot of hard
work from the new management and frontline teams,
closely supported by our business support teams, along
with AHS and the Council, we have now transformed
these projects. This includes both property conditions,
their facilities and the support and management
services, into what are considered to be good quality
and very well run projects. They are now nearly always
fully occupied (or close to it) and provide 104 badly
needed supported homes for some of the most
vulnerable people in the region.

OTHER NEW PROJECTS
In other notable new business successes we have worked with Rochdale Council and MSV to
convert our old offices into 4 high quality flats for rough sleepers, with Elemel to open a 19 bed unit
for young people at Saxonside, with RBC, Cornerstone Place and RBH to start to build 14 new
homes at Whitworth Road and extended our ABEN provision in Rochdale by a further 23 homes
with provision to families as well as single people. We worked with MSV and Manchester Council to
set up Chatsworth Grove as an assessment centre for Unaccompanied Asylum Seeking Children
and won a new contract to provide a further 40 dispersed units in the city for UASC. We also
worked with Ashton Pioneer Homes, Tameside Council and a private sector landlord to set up a
new women-only HMO for homeless people at Minto Street.
RBH
ALL
TOGETHER
IllJlll¥lltJ' A S H T O N
ROCHDALE
OAOUGH COUP4CIL
Llll&iiJ#.Ull&j.q PJONEER HOMES
MANCHESTER S
CITY COUNCIL
Tameside
Metropolitan Borough
This continued success, increasing capacity and financial strength means that we continue to be in
a very strong position and confident in our ability to meet the future challenges coming our way, to
continue to grow and invest further into growing our asset base, improving services and colleague
and customer experiences as we strive to deliver our purpose, mission and vision "to be the best"

CAMPAIGNS TO PREVENT AND COMBAT
HOMELESSNESS AND CHANGE POLICIES
We have already started working with our partners to campaign on homelessness issues, to combat and
prevent the causes of homelessness and to seek policy changes. We launched our first ever campaigii in
Greater Manchester with Shelter, The Booth Centre and Mustard Tree in October 2023 to End the Private
Renting Emergency and outlined 4 key asks to immediately implement the Renlers Reform Act in full, to
increase LHA levels, to cap private sector rents and to end discrimination of young people in the welfare
system. This campaign successfully gained a lot of attention of the local, regional and national press and
media. We also joined other national campaigns with CentrePoint and a wide range of other young persons
homelessness charities. We plan to do more of this over the coming years.
Mustard
Treè
.Booth Centre
SHELTER
CENTRE
POINT
ENDING YOUTH
HOMELESSNESS
The Key to Future Success
We are committed to being the best. Continuing to be innovativei proactivei agile and dynamEc has
been the key to our success overthe last 4 years. Continuing wlth thls approath whilst keeping intemal
bureaucracy to a minimum, ensuring our overheads and support Servi￿ costs are minimised and
better utilising new technology will be crucial to our contlnued success in the future.
We are not resting on our laurels and we will do nKJre to prevent and end homelessness by 2034 We
want to continue to extend our reach to support more vulnerdble people at risk of homelessness In an
increasing number of boroughs (that need us). We will do this by becoming the best by continuing to..
raise our profile as the trusted not for profit oryanisation provider of choice. [￿-,
deliver on our promises.
provide high-quality value for money serviw.
employ and develop the best people;
deliver flexibly to meet the n*ls of commissioners. .
work in genuine partnershipsi &¥ '_
campaign with like-mlnded organlsatlons to raise awarene55 and deliverthe changes in
policies, funding and prioriti￿ requlred to prevent and combat homelessness, support :.
independence and transform lives.

CONCLUSION
2023124 has still been another excellent year of achievement for SSP, consolidating and improving
further on the gains we have already made.
Although we have faced some financial challenges in 2023124 we still posted a surplus at the end
of the year of £141 k. adding to our already healthy reserves.
This success can only be delivered with the full support, commitment and co-operation of the whole
organisation working together. From the Board having to take urgent strategic, business-critical and
at times difficult decisions, to SLT and LT leading the drive to be the best and deliver excellence in
everything we do, to colleagues fully buying into this and continuing to provide dedicated. caring,
flexible and excellent services.
We thank everyone at SSP, our partners and our commissioners for playing their part in making this
another successful year and for helping provide the quality affordable homes and wrap around
support service our customers and so many other vulnerable people at risk of homelessness need.
Together we can and will deliver more next year and in the foreseeable future.
!¢1
Stepping
Slonc

FINANCIAL REVIEW
Principal funding sources
The principal funding sources for the Charity during the year were:
Housing-related support contract income from Rochdale MBC, Bury MBC, Hyndburn 8orough
Council, Blackburn with Darwen Borough Council, Burnley Borough Council, Manchest@r City
Council and Lancashire County Council.
Rental income from tenants and housing benefit paid on behalf of tenants.
Spot purchase of accommodation and housing-related support, for young people leaving care, by
social service departmenls across the North-west via the North-west Care Leavers Framework.
Investment income.
Other sundry sources of income include corporate and individual donations received.
Overview
Total incoming resources in the year to March 2024 were £11,904,998 {2023 - £9,861,057). This
is an increase of 21 % which is mainly due to the new services including Skye Crescent Lodge,
Cherry Tree Lodge, Saxonside and Minto Street.
There was also an increase in rental income across all services as a result of annual inflationary
increases in rent levels together with a number of other smaller specific variances relating to
operational perf0rrnan￿ and other factors including reduced income from Huntley House following
the service being decommissioned in August 2023.
Investment income has increased to £5,426 (2023 £10) as rising base rates have meant that
banks have recommenced paying interest on deposits. Investment income is used to finance
internally funded charitable support to customers and customer participationldevelopment
activities. Additional charitable funds from reserves were utilised to make up for the comparatively
low level of investment income and enable us to maintain support for customer activities.
Other income has increased by 890/0 to £16,210 {2023 - £8,573).
In the year to 31 March 2024 the Charity made a net surplus (after including investment income) of
£141,182 {2023 - £702.562 surplus).
From a financial perspective. this has been a challenging but ultimately successful year. All
services made a positive contribution to central costs apart from two services,. St Chad's House
which came into management in March 2024 and Huntley House which made a deficit of £52,436
before the service was decommissioned.
The budget for 2024125 reflects the continuing growth in services with further increases in turnover
and another surplus of approximately £428k.
Despite the ongoing challenging financial circumstances resulting from continuing pressures on
Local Authority spending, the charity continued to maximise the proportion of total expenditure on
charitable activities maintaining a very similar amount and reduced proportion of expenditure to
the previous financial year.

Direct charitable expenditure accounted for 99.76 % (2023 99,70% ) and governance costs,
including those costs associated with meeting the constitutional and statutory requirements of the
charity such as the audit fees and costs linked to the Strategic Management of the charity,
accounted for 0.24°/0 (2023 0.30 /0) of total expenditure. Trustees decided that the basis for
allocating costs that was adopted in the financial year ending 31 March 2014 was still the most
appropriate method by which to fairly reflect actual expenditure.
Balance Sheet
The net book value of fixed assets increased to £979,212 from £934,859 in the previous year. The
increase is mainly due to furniture in new properties. The main fixed assets are the four Care
Leavers properties in Pendle which had a net book value of £172,136 in both years plus St. Clare's
House which had a net book value of £449,560 (2023 - £459,416).
Reserves Policy
Trustees recognise that whilst the building of reserves is essential to give the Charity sufficient
flexibility to cover temporary interruptions in income flow and provide an adequate level of working
capital, particularly due to the ongoing levels of uncertainty surrounding Local Authority spending
targets following reductions in funding from Central Government, this should not be detrimental to
charitable activities and the provision of quality services to customers.
The Board of Trustees has an annual review of its policy on minimum reserve levels, which are
the free reserves of the Charity. earned from previous operations. The current reserves policy was
adopted in the current financial yearwhen Trustees decided that the reserves policy should provide
sufficient reserves to deal with the loss of the charity's short-temi contracts in an orderly manner.
The most significant change to the policy was to create a new designated reserve Gommensurate
with the amount of reserves tied up in fixed assets and thus not freely available.
Trustees discussed the risk factors and concluded that the likelihood of losing all services at once
is still remote and that the essence of the previous reserves policy remains appropriate having
considered the corporate risk register and other pertinent factors.
Trustees recognise that there were three main types of expenditure within the charity:
Property costs (property rental, maintenance. utility charges etc.) are basically funded via
rental income.,
Support costs (mainly staffing but also costs such as offices, stationery etc.) are basically
funded via contractual income.
Central costs (again mainly staffing but also ICT, office costs etc.) are funded via
combination of rental and contractual income.
Thus, the new reserves policy requires an amount equivalent to three months of all non-property
costs, except for those on services with more than a 12-month contract or where SSP owns the
building, plus amounts to cover dilapidations and a redundancy provision as outlined above. It is
considered that the existing designated reseNe is adequate provision against dilapidations claims.
The reserves polic
requires free reserves of £1.75m at 31 March 2024 compared with the actual
amount of £2,082,134 leaving £332.8k free to expand the services that we offer to customers. This
is in addition to the designated reserves of £979,212 covering fixed assets and £349.585 which is
to provide for renewal of furnishings and any potential dilapidations claims arising if properties are
handed back to landlords.
Financial risk management objectives and policies
The company makes little use of financial instruments other than operational bank accounts and
fixed term deposits with reputable banks, so its exposure to price risk, credit risk, liquidity risk and
cash flow risk is not material for the assessment of the assets, liabilities. financial position and net
movement of funds of the company.

TRUSTEES, RESPONSIBILITIES
Under company law the Trustees have the same legal responsibilities as company
directors and the title is interchangeable.
Company law require5 the directors to prepare financial statements for each financial year
which give a true and fair view of the state of affairs of the company and of the surplus or
deficit of the company for that period. In preparing those financial statements, the directors
are required to..
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards and statements of recommended
practice have been followed, subject to any departures disclosed and explained in
the financial statements, and;
Prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the company will continue in operation.
The directors are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the company and to enable them
to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the directors are aware..
there is no relevant audit inforrnation of which the company's auditors are unaware.,
and
the directors have taken all steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that the
auditors are aware of that information.
The directors are responsible for the maintenance and integrity of the corporate and
financial information included on the company's website. Legislation in the United
Kingdom governing the preparation and dissemination of financial statements may differ
from legislation in other jurisdictions.
Auditors
BK Plus Audit Limited have expressed their willingness to continue in office and, being
eligible. offer themselves for re- appointment.
By order of the Board of Trustees
P4rS715hby p. &x
Its<￿chaIr
27 November 2024

STEPPING STONE PROJECTS
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF STEPPING STONE PROJECTS
inion
We have audited the financial statements of Stepping Stone Projects for the year ended 31 March 2024 which
comprise the Statement of Finaricial Activitl8S, the Balance Sheet, Statement of Cash Flows and related notes
including a summary of 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 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" (United
Kingdom Generally Accepted Accountlng Practicel.
In our opinion the financial stalemenls=
give a true and fair view of the slate of the charitable company's affairs as at 31 March 2024 and of ils
incorning resources and application of resources. including ils income and expenditure, ftsr the year then ended:
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with th8 requirements of the Companies Act 2006.
Basis for o
inion
We Conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII 8nd applicable
law. Our responsibilities under those standards are further (Jescribecs in the Auditor's responsibilities for the audit of
the financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant lo our audit of the financial slalements 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.
Concluslons relatln
to
oln
¢oncgrn
We have nothing to report in respect of the following matters in relation lo which the ISAS IUKI require us lo report lo
you where..
the trustees. use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate., or
the Iruslees have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubl about the company's ability to continue lo adopt the going concern basis of accounting for a period
of al least twelve months from the date when the financial slalemenls are authorised for issue.
other inform
tlon
The other information comprises the information included In the TrusleeslDirectors report, other than the financial
slalemenls and our auditor's report Ihereon. The trustees are responsible for the other information and our opinion
on the financial slalemenls does not cover the other information, except lo the extent otherwise explicitly slated in
our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial
slatemenls. our responsibility 15 to read the other information and, in doing so. consider whether the other
information 15 materially inconsistent with the financial slalemenls or our knowledge obtained in the audit or
otherwise appears to be materially misslaled. If we identify such malarial inconsistencies or apparent
misstatements, we are required lo delerrnine whether there is a material misstatement in the financial slaternents
or a material misslalement of the other inforrnalion. If, based on the work we have performed. we conclude that
there is a material misstatement ot this other information, we are required lo report that fact.
We have nothing lo report in this regard.
inion on other matter
res¢ribgd b the Com
anies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year for which the financial slalemenls are prepared is
consistent wtth the financial stalernenls.. and
- the trustees, report has been prepared in accordance with applicable legal requirements.

STEPPING STONE PROJECTS
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF STEPPING STONE PROJECTS ¢ontlnued
atter$ on which we are re
uired to re
ort b exre
tion
In the light of the knowledge and underslanding of the cornpany and its environment obtained in the course of the
audit. we have nol identified material rnisstat8rn8nt5 in the ttuslees'ldirectors. report.
We have nothing to report in respect of the following matters where Ihe Companie5 Act 2006 requires us lo report to you il,
in our opinion..
adequate accounting records have not been kept by the charitable cornpany, or returns adequate for our audit have not
been r8celved from branches not visbted by us,. or
the charitable company's financial statements are not in agreement with the accounting records and returns,. or
cartain dlsclosures of trustees, remuneration specifigd by law ar8 not mada., or
we have not received all the information and explanations we rèqulr& for our audil.. or
th8 trustees were not entitled lo prapare the financial statern8nts in accordance with thè small companies ￿gIrne and
taka advantage of the small companies exemptions in preparing th6 trustees, report and take advanlage of the Small
companies exemption from the rÈ4uiromant to P￿pare a strategic report.
Rès
onslbllltles of trustees
As explained more lully in thè trustees, responsibilities statement. the trustees are responsible for the preparation ol the
rinancial statements and for being sat15fied that they give a Irue and lair view, and for such internal control as the trustees
determine is nèc8SSary to enable the preparation of financial staternents that are free from material misstaternent, whether
dLJe to fraud or error.
In preparing the financial statamants. the trL&Stees are responsible for 8sse55ing th8 company's ability to continue as a
going concern, disclosing, as applicable. matters relating to going concèrn and using the going concern basis of aceounting
unless the trustees either iriltrnd to liquidate the company or lo cease operations. or have no realistic alternative bul to do
so.
Audltorfs res
onsibilitl85 for tho audit of the flnanclal statsments
Our obj8CtIV8s arè to obtain reasonable assurance about wh8therth8 financial statements as a whole are fr88 from mat8rial
misstatèment, whether due to fraud or error, and lo issue an audilofs report that includes our opinion. Reasonable
assurance is a high 1gV81 of 855uranc8. bLrt is not a guarantee that an audil Conducted in accordance wlth ISAS IUKI will
always detect a mat8rial rnisstatament when it exists. Misstatemenls can aris8 from fraud or error and are considered
material if, individually or in the aggregate. they could reasonably be expected to influence the economic d8cision5 of
users taken on the basls ol these financial statements.
Irregularitles, including fraud. are instanc¢s of non-compliance with laws and regulations. We d85ign procedures in Ilne
with our responsibilities. outlined abov8, lo d8tect material misstatements in respect of irregularities, including fraud. The
extgnt to which our proeadures are capable of olelecling irregu13riti85, including fraud Is detailed below.,
Based on our understanding of the charitable company. we identified that the PTincip81 risks of non-cumplianco related lo
those laws and regulations that hav8 a dir8Ct irnpact on Ihe financial slalements such as th8 Cornparniès Act 2006 and the
Charilies SORP IFRS 1021. We 8valuat8d managemenvs incentiwes and opportunities far fraudulent manipulation ol the
rinancial statemen15 (including the risk ol override of contro151, and deterrnined Ihal the principal risks were related to
P05ting inappropriate journal entries lo manipulate financial results and management bia5 in gccounling 8Stimates.
Appropriate audit procedures were performed lo address those risks including testing journal entries and challenging
assumptions and judgements made by managernent in theirsignificanl accounting estimates. There ale inherent limitations
in the audit procedures described above and Ihe further removed non-compliance with law5 and regulations is from the
events and tran5action5 reflected in the financial slalements. the 18ss likely wg would become aware of it. Also, the risk of
not detecting a material misstatement due to IraLJd 15 higher than the risk ol not delecling one resulting Irorn 8rror, a5 fraLLd
tHay involve deliberate concealment by, for 8xample, forgery or intentional misrepresentation5, or through collusion.
A further description of our responsibilities for the audit ol the financial statements 15 located on the Financial Reporting
Council's websit8 at www.frc.org.ukjaudllorsresponsibilities. This d8SCriPtion forms pari of our auditofs report.
Use of our re
ort
Thi5 report is rnade solely to thè charitable company's mernbers, as a body, in accordance with Chapter 3 of Part 16 of the
Cornpanies Act 2006. Our audit work has been undertaken 50 that we might slate to the charitable cornpany'5 mernbe15
those matter5 we are required to stat8 to Ih8m in an auditors, report and for no other purp058. To the fullest extent permitted
by law, we do not accept or assurne responsibility to anyone other than the charitable Company and the charitable
ompany's members as a body. for our audit work. for this report, or lor the opinions we have forrned.
Dominic Huxleylsenior Statu
Forand on behalf ol
ory Audltor)
BK Plug Audlt Limltod
Chartered Cortifiod Accountant5
and Statutory Auditor
Steding House
501 Midd18tDn Road
Oldham
OL9 9LY
Date '.
J0211

STEPPING STONE PROJECTS
STATEMENT OF FINANCIAL ACTIVITIES
(including Income and Expenditure Account) . YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Fund5
2024
Unrestricted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Note
INCOME
Donations and other income
16.210
16,210
8,573
8,573
In¢ome from investrnents
5,426
21.636
5,426
21,636
10
8.583
10
8.583
Ineome from charitablè a¢tlvlU8S.'
Grants and contracts
Rents recewablg
7.164,051
4,719,311
7,164,051
4.719.311
6,852,829
2,999,645
6.652,829
2,999,645
Total income
11,904.998
11.904,998
9,861,057
9,861,057
EXPEND￿uRE
Charitable activities
11.763,816
11,763,816
9.158,495
9,158,495
Total expendituro
11,763.816
11,763.816
9.158,495
9.1S8.495
Net Incomallexpenditurel for tho yéar
141,182
141.182
702.562
702.562
Net movement In fund
1,182
14
702,562
Reconciliation of funds
Total funds brought forward
3,270.449
3,270.449
2,567,887
2.567.887
Total funds carried fonvard
17
3,411,631
3,411,631
3.270.449
3,270,449
The resutts for thÉ yèar arise from continuing activities.
The accompanying notes are an integral part of this ststamenl of financial aclNilies.
All recognised gains and losses are inrluded in the statement of financial activities.

STEPPING STONE PROJECTS
BALANCE SHEET .' AS AT 31 MARCH 2024
Note
2024
2023
FIXED ASSETS
Tangible assets
11
979,212
934,859
Total fixed assets
979212
934 859
CURRENT ASSETS
Debtors
12
1,696,864 1.603,114
Cash at bank and in hand
1,244.462 1.270,454
Total current assets
2 941326 2 873 568
CREDITORS:
Amounls falling due within one year
13
508,907
537,978
NET CURRENT ASSETS
2432 419 2 335 590
TOTALASSETS LESS CURRENT LIABILITIES
3,411,631 3.270.449
NET ASSETS
18
3 411631 3 270 449
THE FUNDS OF THE CHARI
Restricted income funds
17
Unrestricted income funds..
Designated
17
1,328,797
341.843
General
17
2,082,834 2,928.606
TOTAL CHARIry FUNDS
17
3411 631 3270449
These accounts have been prepared in accordance with the spècial provisions of part 15 of the Companies
Act 2006 relating to small companie5 and constitute the annual accounts required by thé Companies Act 2006
and are for circulation to the members of the company.
The accompanying noles 8re an integral part of these financial statements.
The financial statements were approved by the Board of Trustees and authorised for issue on
and signed on t
ir behalf
TrusteelDirector
. TrusteelDirector
R8gistratlon n
ber 02647645

STEPPING STONE PROJECTS
STATEMENT OF CASH FLOWS . YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
Net incomellexpendilure) for the year
141.182
702,562
Adjustments for..
Depreciation of tangible assets
Income from investing activities
Decreasellincrease) in debtors
Increaselldecrease) in credilors
162,874
105,564
15.426)
110)
(93.7501 {599,5551
129.0711
5,644
Cash generated from operations
175,809
214,205
Net cash provided by (used inl operating activities
175,BOg
214,205
Cash flows from investlng activities
Interest received
Purchase oftangible assets
5,426
10
1207,227) 1291,115)
N81 cash used in inv8Sting activities
(201,8011 1291,1051
Net Increase I Idecreasel in cash and cash equivalents
125.992) 176,900)
Cash and cash equivalents at th8 beglnning of the yéar
1,270,454 1.347,354
Cash and cash equlvalents at the end of the year
1,244,462 1.270,454

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
1 Accountin
olicies
Th8 principal accounting policies adopted, judgéments and key sources of estimation
uncertainty in the preparation of the financial statements are as follows..
a} Basis of preparation
The fsnancial staternenls have been prepared on an accruals basis under the historical c05t
convention. and the Accounting and Reporting by Charities-. Slatement of Recommended
Practice, applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1
January 20191 (Charities SORP IFRS 102)). the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 and th8 Compani8s Act 2006.
Stepping Stone Projects meets the definition of a public benefit enlily under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless olherwise
stated in the relevant accounting policy note.
b) Company status
The charity is a company limited by guarantee (registered number 026476451 incorporated
in the UK and has no share capital. In the event of the charity being wound up, the liability
in respect of the guarantee is limited to £1 per member of the charity. The registered
address is 2 The Quadrant, Green Lane, Heywood OL10 ING.
c) Golng concern
The accounts have beon prepared on a going concern basis. The trus1é8s have
reasonable expectation that the charity has adequate resources to continue ils activities for
the foreseeable future and that there are no material uncertainties over the charity's
financial viability.
dl Income
Income from charitable activities including income received under contract or where
entitlement lo grant funding is subject to specific performance conditions is recognised as
earned las the related services are provided).
Grant income included in this category provid85 funding to support activities and is
recognised where there is entitlement, certainty of receipt and the amount can be measured
with sufficienl reliability.
Rent is recognised on a receivable basis.
Investment income is recognised on a receivable basis.
e) Expenditure
All expenditure is accounled for on an accruals basis and is allocated as follows..
Charitable expenditure comprises those costs incurred by the charity in the delivery of ils
services for its beneficiaries. It includes both those costs Ihat can be allocated directly to
such activities and those of an indirect nature necessary to support them.
Expendilure is allocated be￿een the restricted and unreslricled projectslfunds in
accordance with contractual obligations or as the Board of Trustees considers appropriate.
Governance cosls include those costs associated with me81ing the conslilutional and
statutory requirements of the charity and include the audit fees and costs linked to the
strategic management of the charity.
Support costs include central functions and have been allocated to charitable aclivities on
a basis consi51ent with Ihe use of resources eg. Staff cosls by time spent.

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
Accountin
olicies contlnued
Taxatlon
The company is a registered charity and as such is entitled lo exemption from tax to the
extent that its income falls within section 505 ICTA 1988 and section 256 CGTA 1992 and
is applicable to charitable purposes only.
g) Operating leases
Rentals applicable to operating leases are charged lo the SOFA over the period in which
the cost is incurred.
h) Tangible fixed assets and depreciatlon
Tangible fixed assets are included al cost less provision for depreciation.
Depreciation has been provided on all tangible fixed assets al rates calculated to write off
the cost of each asset less the estimated residual value over its expected useful life as
follows
Leasehold property
- 50 years
Computer equiprnent
- 3 years
Fixtures. fittings and sundry equipment
- 2 y8ars
Rented propety improvements
-4or5years
Office furniture and equipment
2 years
Where assets have been wrillen down lo their estimated residual value no further
depreciation is char9ed.
S) Fund accounting
Unrestricted funds comprise accumulated surpluses and deficits on general funds that are
available for use at the discretion of the Irusteesldirectors in furtherance of the general
objectivés of the Charity and that have not been designated for other purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the
charily. Restrictions arise wh8n specified by the donor or when funds are raised for particular
restricted purposes.
Designated funds comprise unrestricted fund5 that have been pul aside al th8 discretion of
the trusteesldireclors for particular purposes.
j) Pensions
Contributions in respect of the company's defined contribution pension Schemes are
charged in the year in which Ihey are payable to the scheme.
k} Financial instruments
The charity has financial assels and liabilities of a kind that qualify as basic financial
instruments. Basic financial instrurnenls are initially recognised at transaction value and
subsequently measur8d at amortised cost.
l) Changes In presentation
Where changes in presentation hav8 been made the comparative figures have been
adjusted accordingly.

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
Unr8stricted
Re$lri¢ted
Total
2024
Total
2023
2024
2024
2 Income from fund raisin
activities
Thé charity does not carry out any fund raising activities or receive incom8 from commercial
trading operations.
3 Other income
Other income and donations
16,210
16,210
8,573
,210
16.210
8.573
4 Income from investments
Bank deposit inlerest
5,426
5,426
5,426
5 Income from charltable actlvlties
Grants received regarding
accommodation and support
Rent receivable
7.164,051
4,719,311
7,164,051
4,719,311
6,852,829
2,999,645
11,883,362
11,8B3,362
9,852.474

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
6Ex
enditure
haritable activities
unrestricted
Basis of Accommodation Governance
allocation
and support
Total
Total
2024
2023
Costs directl allocated to actlvlties
Housing costs
Housing management services
Travel and training
Office costs
Recruitrnent
Audit
Direct
Direct
Oirecl
Dir8cI
Direct
Direct
5,463.232
4,366,791
117,861
27.392
34,199
5.463.232 4,258,900
4,366,791
3.402,814
117,861
107,149
27,392
17.804
34,199
26,701
8,000
8,000
8,000
10,009.475
8,000
10,017,475 7.821,368
ort costs
Staff costs
OffiTr costs
Legal and professional
Bank charges and interest
Depreciation
Stsff Ilme
Staff lime
Staff lime
Staff lime
Staff lime
1,180.407
389.121
31.572
5,396
119,340
19,144
1,081
52
30
198
1,199.551
390,202
31,624
5.426
119,528
948,381
299,058
24.628
60
65,DOO
1.725,836
20,505
1,746,331
1,337.127
Total oxpendlture
11,735,311
28,505
11,763.816 9.158,495

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
Total
2024
Total
2023
7 Staff costs
Total staff emoluments for the year were as follows..
Wages and salaries
National Insurance
Pension, health and life assurance costs
4,181,910 3,201,354
374,389
299,036
195,204
151,253
4,751,503 3,651,643
8 Staff numbers
The average headcountfor the year..
Number
Number
Charitable aclivit18S
Governance
143
117
148
122
The number of employees whose emoluments {gross salary and employer pension contribulionl.
amounted to over £60,000 in the year were as follows..
Nurnber
Number
£60,001- £70,000
£70,001- £80.000
£80,001- £90.000
£90,001- £100,000
The key management personnel of the charity comprise the Iru51ees and the Senior Management
Team. The total employee benefils of the key management personnel of the charity were £316.511
12023 '. £233.7821.
9 Net movement in funds
Net movement in fvnds is arrived at after charging Ilcrediting)..
Depreciation of tangible fixed assets
Auditors. remuneration..
audit of charitable company
Operating lease rentals - land and buildings
162.874
105,564
8,000
8,000
2,828.287 2,296.759
10 Taxatlon
The company is a registered charity and no provision is considered necessary for taxation.

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
11 Tan
Ible fixed
558ts
Offl¢e
furniture
Furnitur•,
fittinys
and sundry
equipmont
Rented
Property
Improvement5
Leasehold
Proporty
Computer
equlpment
Equipment
Total
Cost
Al 1 Aprd 2023
Addllions
Dlsposals
Transfer5
At 31 March 2024
7D7,081
235.114
93,OTO
198,372
3.490
555.499
32.609
530.284
78,058
2.226.350
207.227
707,081
88.108
2,433,57
rg¢iati¢n
At 1 April 2023
Charge for the period
Disposals
At 31 March 2024
75.529
9.856
154,771
23.959
167.294
22,053
542,689
11.480
351,208
95.526
1.291.491
162.874
446,
ook Value
At 31 March 2024
621,696
149.454
12.515
33,939
161.608
979,212
At 31 MarGh 2023
631,552
80.343
31.078
12,810
179.076
934,859
L8asehold propety comprises 4 terra¢ed properbes purchased trom Pendle Borough Council in 2011 for use by the CO￿18a¥&r$ Proi8Ct.
Th8 propertie5 were 8¢4uired subject lo the following ￿striCtlY8 covenants..
11 to use the properties solety for the piirpose of supported resldential housing for a period of 10 years.,
Zl not to d15P05e of any rf the properties wilhout the written permission of PBndle Borough Council.
In arIdilion to the above a property known as Sl Clarg's House ￿n Rochdale was pur¢hased in May 2019. and is operated by Ih? charity as
House ol Multiple Occupabon IHMOI.

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
12 Debtors
2024
2023
Trade debtors
Rents receivable
Prepayments and accrued income
Other debtors
261,868
542,287
820.883
71.826
711,448
166,582
699.627
25,457
1,696,864 1,603.114
13 Credltors amounts fallln
due within one
ear
2024
2023
Trade creditors
Taxation and Social security
Accruals
Deferred income
Other creditors
312.058
98,539
67,442
11,907
18,961
272,673
79,867
94,795
71.143
19,500
508,907
537,978
Movements on deferred income account:
Broughtfomard
Released
Income deferred in the current year
71.143
257,228
171.1431 1257,2281
11,907
71,143
11,907
71.143
Contractual income has been deferred as it was received in advance of services being provided.
14 0 eratln
lease commltments
The charitable company rents ils head office accommodation at a cost of £34,50012023 £34,500} per
annum, under a lease for a term of ten years expiring 31.08.32.
The charitabl8 company also has commitments under managem8nt agreements of up to three years
duration with Housing Associations and private landlords for the use of properties. Most agreemènts with
private landlords are for periods of six months. The annual commitment for management and occupancy
costs as at 31st March 2024 was £ 3.942,832 {2023 . £2.843,8311.
15 Pension commitments
The company operates defined contribution pension schemes on behalf of certain employees. The
assets of the schemes are held separately frorn those of the company in independently administered
funds. The annual cornmilment under this scheme is for contributions of £195,20412023 £151.2531.

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
16 Share ca
ital
The company has no share capital and the liability of members is limited by guarantee lo £1
per member.
17 Anal sis of charitable funds
Analysis of fund movem8nts:
Al
1 April
2023
Incoming
resources
Resources
exponded
Transfers
At
31 March
2024
R8slrlcted Funds
Unrestricted Funds
Designated Funds
Dilapidations
Fixed Assets
Total Designated Funds
General Funds
341,843
564,487
1401,691) 1155,0541
349,585
979,212
979.212
341.843
564.487
1401,691)
824,158
1,328.797
2.928,606 11.340,511 111,362,125) 1824,1581 2.082.834
Total
3.270,449 11.904,998
11,763,816
3,411.631
Designated funds consist of=
1. Dilapidations Fund is made of rent and service charge receipts sel aside for future refurbishment
of the housin9 properties ulilised by the charity. The Truste8s are of the opinion that the amount
sèt aside as at 31 March 2024 is sufficienl to cover requirements in the short term.
2. Fixed Assets Fund represents the properties and other fixed assets such as office furniture.
computer equipment and furniture provided in our properties.
18 Anal sis of net assets between funds
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
Funds
2024
Tangible fixed assets
Current assets
Current liabilities
Net asset5 31 March 2023
979,212
349.585
979,212
2,941,326
508 907
3,411,631
2.591,741
508 907
2.082,834
1,328.797
2023
Tangible fixed assets
Current assets
Current liabilities
Net assets 31 March 2023
934,859
2,543.283
549 536
2,928,606
934,859
2,885,126
549 536
3,270.449
341.843
341.843

STEPPING STONE PROJECTS
NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 MARCH 2024
19 Related
transactions
None of the directors (board of Irusleesl received any remuneration from the charity in the year
12023 . £Nill, and were ff imbursed mileage expenses of £ Nil12023 . £3111.
No trustee or other person related to the charity had any personal interest in any contract or
transaction entered into by the charity during this or the previous financial year.
In the opinion of the trustees there is no ultimate controlling paty-