Alabaré (A company Limited by Guarantee) Report of the Trustees and Financial Statements For the year ended 31 March 2025 Company number: 2604011 Charity number: 1006504 Alabaré Index to the Flnanclal Ststements For the year ended 31 March 2025 PaBe Report of the Trustees itoii Report of the Independent Auditors 12to14 Statement of Finanoal Acti¥itles 15 Balance Sheet Statement of Cash Flow 17 Notes to the Flnandal Statements 18to28 Alabaré Report of the Trustees For the vear ended 31 March 2025 Reference and Administrative details Company Number 2604011 Charity Number 1006504 Registered Office Riverside House, 2 Watt Road, Salisbury, Wiltshire SP2 7UD Governing document Memorandum and Articles of Association dated 24 March 2024. Patrons General the Lord Dannatt GCB, CBE, MC, DL Brigadier simon Firth CBE Reverend Joanna Jepson The Right Reverend Stephen Lake, Bishop of Salisbury The Right Reverand John Lomas, Bishop of Swansea and Brecon th Bishop Bosco MacDonald, Bishop of Clifton Appointed 27 March 2025 Honorary Presldent John Proctor OBE Board of Trustees Malcolm Cassells Teresa Barsby Paddy Bradley Allie Bennington Louse Burns Martin Clark Lucy Hendry Mickey Morrissey Alicia Proctor Mark Proctor Philip Sutton Phillip Reynolds Vernon White Billy Wilde Richard Winstanley Chair Resigned 7 February 2025 Appointed 19 August 2024 Appointed 24 January 2025, resigned 10 March 2025 Resigned 27 March 2025 Appointed 13 October 2024 th th Appointed 28 November 2024 Committee's Strurture Finance & Resources Committee Quality Committee Fundraisingi Marketing and Retall Committee Nominations and Governance Committee Alabaré Report of the Trustees For the vear ended ai March 2025 Key Management Andrew Lord Vanessa Bedford Emma Hart Kirsty Sculllon JamesTomlinson Gill Turner-callis Chief Executive Care and Support Director Finance Dlrector from l October 2024 Fundraising Director from I, January 2025 Director of Marketing and Strategic Communlcations from l April 2025 Senior Chaplain Bankers The Royal Bank of Scotland plc, 14 Minster Street, Salisbury, SPI ITP Solicitors Wilsons, Alexandra House, St John's Street, Salisbury, SPI 25B Auditors Fawcetts LLP, Windover House, St Ann Street, Salisbury, SPI 2DR Alabaré Report of the Trustees Ftir th.È vear ended 31 March 2025 The Trustees present their report together with the financial statements of the Charty for the year ended 31 March 2025 which should be read in conjunction with the reference and administrative details set out below. The financial statements have been prepared based on the accounting policies set out in note I to the financial statements. Alabare is a charity registered with the Charity Commission and a company limited by guarantee. Introduction by Malcolm Cassells, Chair of the Board of Trustees The year to 31st March 2025 was one of considerable progress against a background of financial challenges for the charity sector. The year has had many successes including: gaining more mental health work, implementing new Wiltshire contracts for the homeless, and higher occupancy levels, meaning we are supporting more vulnerable people. The Executive Team has been strengthened, including the appointment of a new Finance Director, and several departments restructured. The Fundraising Team exceeded their targets, which together with strong budgetary control, enabled us to almost break even. Over the past two years the governance of the charity has been much enhanced with a good number of new Trustee appointments which have added key skills and experience to the Board. In the last 2 years two new Board Committees have been formed covering: fundraising, marketing and retail; and nomlnations and governance. Furthermore, the Trustee recruitment process has improved. We now have a strong Board but are looking for more diversity and inclusivity. During 2025 the Board will seek to appoint a new Chair as I step down from the Board after nearly 17 years as a Trustee. We have also appointed a new Patron during the past year as we seek to raise the profile of Alabare and gain a stronger voice in national discussions about those in need. I wish to thank our staff including our hard-working Chief Executive, volunteers including Patrons, Trustees and Ambassadors, and supporters, for their work and commitment over the year. I see and hear so many amazing stories from clients regarding the work we do and this would not be possible without the efforts of all those involved with Alabare. The future is an exciting one for Alabaré as we grow our services, have a greater impact. and improve our financial situation. We are very reliant upon funding from individuals, charities, partners, commissioners, and grant making organisations to maintain and develop our work and with your help, together. we can make a real difference. Objertives and Activities Objects The Objects of Alabaré, as set out in its governing document, are: The relief of poverty bythe provision of special accommodation and anclllary5ervices, such as daycentres and counselling, forthose who by reason of social, emotional andlor physical disadvantage {impairmentl are in need of sustained support to enable them to lead lives which permit choice and development of their potential and an assured place in society. The relief and prevention of sickness, disease and physical and mental disabllity. The advancement of religion. Alabaré Report of the Trustees For the ear ended 31 March 2025 Objects and Publlc Benefit The Charity's Objects are set to reflect its community aims. The Trustees review its Objects and activities from time to time to ensure that they continue to reflect its aims. The Trustees have been engaged in the creation of a Five-year Plan for the organisation, which was agreed at the Board of Trustees meeting in March 2025. The Trustees have considered the Charity Commission's General Guidance on public benefit and, in particular, its supplementary public guidance on "the prevention or relief of poverty for the publlc beneflt" and "the advancement of religion for the public benefit". The Trustees are satisfied that the public benefit requirement is being met. Our Vision in Alabaré is a society where everyone has the opportunity to live a fulfilling life. Our Mission isto SUPPOrt people to find purpose, hope and meaning in their lives by providing: Good quality accommodation- a safe home until they can find a permanent home Professional support and advice- offering choice and explaining consequences Training in life skills Support in overcoming the barriers they face in transforming their lives Our Values The values that lie at the heart of our work are: Compassion: we aim to treat all others the way we would like to be treated ourselves. Quality Care: looks like [preferred outcomes from client engagement] and employers committed totheir staff. Respect: We will demonstrate and expect a certain standard of behaviour between colleagues and Servi￿ users/clients, and to our homes, communities and our environment. Honesty: We will acknowledge and improve in our weaknesses, and celebrate our successes through clear marketing, good reflective practice and excellent support work. Our Principles The principles embodied in the professional nature of our work: Integrity- expressed in honesty and reliability, transparency, accountability and trustworthiness Inclusiveness welcoming peop5e from all backgrounds, treating them fairly, recognising and valuing their distinctiveness as Individuals Empowerment - creating an environment which enables people to take control of their own Sives, by listening to them and offering choice wherever possible Equality in the delivery of servlces to our service users and employment of staff, and recognising and valuing the diversity of the communitles we serve Collaboration in our enthusiasm for working in partnership with others Structure, Governance and Management Governlng Documents Alabaré is a charitable company limited by guarantee and was set up on 11 March 1991.The governing documents are the Memorandum and Articles of Association, which were last amended in March 2024. Trustee Board All Trustee appointments are approved formally by the Board of Trustees. Applications for trusteeshlp are encouraged from all settions ofthe community. Alabaré Report of the Trustees For the vear ended 31 March 2025 The Articles state that the Board shall comprise of at least five and not more than fifteen Trustees and, so far as practical, shall comprise of eleven persons who are practicing Christlans including up to 4 people nomlnated by the Alabaré Christian Community and up to four persons of any background who support the Christian ethos. A Trustee appointed can serve a term of three years up to a maximum of nine years. They are not eligible for reappointment until a period of one year has elapsed save in exceptional circumstances. The Board of Trustees met seven times duringthe year 2024125. At 31st March 2025, the Board of Trustees agreed to delegate certain functions to four committees: i) Quality Committee chaired by Alicia Proctor ii) Finance and Resources Committee chaired by Mickey Morrisey iii) Fundraisin& Marketing and Retail Committee chaired by Richard Winstanley w) Nominations and Governance Committee chaired by Paddy Bradley. The membership of the committees consists of Trustees and volunteers with appropriate experience. The Chairs of all four ommittees are Trustees. In 2023. the Board of Trustees started a recruitment drive with the aim of appointing new trustees during 2023 and 2024. In 2024125 four new trustees were appointed and three trustees resigned. In 2025 the Board of Trustees will be recruiting a new Chair of Trustees, With Malcolm Cassells resigning in December 2025 having completed 6 years as Chair of Trustees. The Board of Trustees revlewed its governing documents in 2023. At the May 2023 Board meetingi the Board approved the change of the chariws name to Alabaré. In March 2024, the Board of Trustees approved a new Articles of Assoclation. The Board of Trustees embarked on an external Corporate Governance review with pro- bono support from The Worshipful Company of Management Consultants, which resulted in the development of a new 5-year plan and recruitment ofjukes Mcwilliams which led to significant restructure of thefundraising and marketing department. Although the Board is the key decision-making body, many of its day-to-day decisions are made by appropriate executive staff, led by the Chief Executive, within the framework of policies and procedures approved by the Board. Process for indurtion and training of Trustees A process is in place for the induction of Trustees whlch has been agreed by the Trustees. Training for Trustees is an initial PowerPoint presentation covering the history of the organisation, safeguarding, health and safety, professional boundaries and key policies which must be read. Further training is online and through two development afternoons each year. In addition, new Trustees visit several homes and services of the charity. Risk Management The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of organisational ontrol. They are responsible for ensuring that: The Charity is operating efficiently and effectively Its assets are safeguarded agalnst unauthorised use or disposition Proper ￿cordS are maintained, and thefinancial information used within the Charity or for publication is reliable The Charity complles wlth relevant laws and regulations The 5yStems of internal control are deslgned to provide reasonable, but not absolute, assurance against misstatement or loss. They include: A strategic plan and annual budget approved by Trustees Alabaré Report of the Trustees For the ear ended 31 March 2025 Regular consideration by the Trustees of financial results, varlance from budgets, non-flnancial performance indicators and benchmarking reviews Delegation of authority and segregation of duties Identiftcation and management of risks The major ri5ksto which the Charity Is exposed are set out in the followingtable. They are revlewed bythe Board of Trustees regularly. Alabaré Report of the Trustees For the vear end￿ 31 March 202S OBJECTIVE RISK HOW WE MANAGE THE RISK Provide good quality homes and services to vulnerable people Poor quality care and / or beaches of Health and Safety legislation. Appropriately trained and remunerated staff. Internal audit programme including regular Health & Safety audits, monitored by Finance and Resources Committee. Trustee appointed to be lead responsibility for safeguarding and a Quality Assurance Audit programme that includes seNi user feedback, monitored by Quality Committee. Financially sustainable harity Low occupancy, poor fundraising returns, not retaining local authority contracts, poor control of expenditure, impact of inflation and Govt review of Exempt Accommodation. A 5-yearfinancial forecast was included in the 2025- 2030 Strategic Plan. Thi5 highlighted the need for increased fundraising income. During the year there has been a regular review of occupancyi a new fundraising strategy, management of slckness absence, employee retention, focus on delivering excellent services, budget management Including regular review of agency costs, business cases approval for new opportunities, retendering of suppller contracts. Sutcess in Statutory funding contacts with Local Government and NHS provides certainty on a substantial part of Alabaré's funding for next 3- 5 years. Motivated staff team Dissatisfied staff leading to higher turnover and sickness Annual staff suNey, ongoing support via Chaplaincy service. review of pay and rewards in October 2024 and continued commitment to Living Wage and paid and volunteer staff training. Secure and reliable IT system5 Potential breaches of Data Protection legislation, cyber attacks Regular review meetings with an outsourced IT services provider which included protection against cyber-attack. During 2024 investment for a new Client Management System that went live in March 2025. Leadership Not achieving vislon, not addressing issues, loss of external confidence Recruitment of new Trustees being undertaken in 2024. A strengthening of the leadership and a new ull-time Finance Director started in October 2024, Fundraising Director in January 2025 and Director of Marketing and Strategic ommunications in A ril 2025. Alabaré Report of the Trustees For the vear Ènded 31 March 2025 Financlal Risk Management Price Risk The Charity is exposed to price risk due to normal inflationary increases in the purchase price of the goods andservices purchased in the UK. Credit Risk The amount of exposure to any individual counterparty is not currently subject to a limit that is re-assessed annually. This is due to the type of customers and that most contracts are with public bodies. Liquidity Risk The Charity actively maintains a Mixture of cash and long-term debt finance that is designed to ensure that thecharity has sufficient available funds for operations and planned expansions. Interest Rate Risk The Charity has both interest-bearing assets and Interest-bearlng liabilities which earn interest at both fixed andvariable rates: these are monitored closely to ensure that any risk is mitigated. The Charity has loans, which are a mix of fixed and variable interest rates. The Charity regularly reviews the loans with its lender5 and is currently exploring the feasibility of purchasing additional property through loan finance. Stotutory Funding Risk Some £10.2m of the Charity's Income is from direct or indlrect statutory sources. Durlng 2023124 contracts held wlth Wiltshire Council for supported housing for single homeless and vulnerable young people were put outtotender. Alabaré won the tenders and was awarded new contracts from April 2024. These contracts last a minimum of five years. Contracts are also wlth Wiltshire Council, Devon County Council, Hampshire County Council and NHS for the work with the homeless, young people, people with mental health problems and people with learning disabilities. A further retendering exercise was completed in late 2024 for the mental health seNices by the NHS. Alabaré was successful with a new contract awarded from April 2025. Indirect statutory funding is the rental income, which is largely funded by Housing Benefit. On an annual basis rent levels are revlewed and any increase is subjectto approval by local authorities administering Houslng Benefit. We confirm that the major risks to which the Charity is exposed, as identified by the Trustees. have been reviewed and systems or procedures are established to manage those risks. Achievements and Performance Another very successful year for Alabaré. A year where we continued to deliver vital support to 3,272 vulnerable and homeless people and, through the securing of new funding contracts, creating the foundations of continuing the work forthe next few years. The year saw the continued development of our mental health seD4ices in Wiitshire. Since the start of lockdown in 2000, with financial support from the NHS, the telephone advice and drop-in service has grown into Alabaré Riverside Sanctuary, a confidential service aimed at anyone in Wiltshire seeking mental health 5UPPOrt or struggling to manage their mental wellbeing. Working in partnership with other providers in the county, our mental well-being support has continued to develop with the Acce55 Community Mental Health, offering extended telephone support, personalised recovery and well-being plan5 and counsellinE, and focusing on walking alongside people on their journey of recovery and well-being. These vital services supported over 2,700 people in Wiltshire. The service was retendered in 2024 and in partnership with other charities, we were successful in both retaining the exlsting service with a commitment to developing new Crlsls homes in 2025. Alabaré Report of the Trustees For the vear ended 31 March 2025 During 2024/25 Alabaré supported 158 veterans through the supported housing across England and Wales. 350 referrals were received for Homes for Veterans, an intrease of 122% on the previous year. The funding for this seNice has been rebid for in March 2025 and the outcome will be known in July 2025. The young people's services provided safe and stable supported housing to 110 young people offering a foundation for growth, healing and independence. Duringthe year we helped 69 young people developtheir employability skills and 100 young people participated in the dedicated wellbeing programrne. The charity support5 47 residents with learning disabilities in Salisbury and Amesbury. The service provides accommodation and person-centered support which builds friendship5 and community. Alongside the residential services, are development centres at Old Sarum and Barford St Martin. The development centres focus on building skills and confidence through activities such as gardenin& cooking and IT trainin8. Over the year Alabaré 5UPPOrted 192 individuals who were, or at risk of being, homeless in supported accommodation in Wiltshire, Weston-super-mare and North Devon. The charity had a successful fundraising year with over £2m raised from trusts, individuals, events and corporates. The 5-yea r flnancial forecast5 highlighted an increasing reliance on fundraising to continue to deliver the vital services to the vulnerable. The Trustees commissioned a major review of fundraising activities by Jukes Mcwilliams Consultants. The Trustee5 approved the recommendations, which have resulted in a new fundraising and marketing strategy and a restructure of the department. CharIt￿S strategies for achieving it5 aims and objectives A Five-year Plan was agreed by the Board of Trustees on 27 March 2025. The plan sets out 11 key results areas to be achieved by 2030. Effectiveness- Key Results #l Alabaré's succes5 in achieving its mission is measured and monitored through effective impact reporting Effectiveness- Key results #2 To ensure that at least 80% of clients are satisfied with the Alabaré home they live in and service they receive. Effertiveness - Key results #3 At least 75% of residents take part in BoTG/Wellbeing, Chaplaincy engagements or other similar activities to improve their wellbeing. Sustainability - Key results #4 Ensure an annual operating surplus of 3% of expenditure to help build an unrestricted reserve equivalent to at least three months, running costs, ensuring continuity of services. Sustainablllty- Key results #5 Ensure that fundraising income raises at least 33% of our expenditure. Growth - Key result #6 Identify an appropriate measure to measure public awarenes5 of OUT profile, mission, and brand at local, regional, and national levels, then achieve a IO% increase year on year to increase knowledge, build trust, foster collaboration opportunities, and Influence public policy. Alabaré Report of the Trustees For the ear ended 31 March 2025 Growth - Key Result #7 Increase the number of bedspaces provided from 350 to 5CKI across Southern England and Wales to grow the charity and help more people in need Growth - Key Result #8 Increase the number of owned properties by 5 overthe lrfetime of the plan Envlronmental, Soclal, and Governance - Key result #9 Environmental: achieving Energy Efficiency Rating C, exceeding the Decent Home Standard and championing Reuse, Recycle and Reduce. Environmental, Social, and Governance - Key result #lo Social: employees: enhance the representation of underrepresented groups by IO% within the next year. Conduct an employee wellbeing survey twice a year to measure improvements in wellbein& ensure 90% uptake in all staff training. Envlronmental, Soclal, and Governance - Key result #ll Governance.. securing the future of the charity by ensuring 'good governance, Igreenl Status in all the areas assessed by the COBSEO Governance Practices Self-Reporting Tool by 2026. Meeting the challenges in the plan will require passlon, commitment and relentless focus. We will also want to workwlth partnerswho share ourvision and valuestoenable real change in ourworld, sothatwecan deliver andgrow our services to meet the needs of those we support across the breadth of our communities. Financial and Reserves Review In accordance with the approved 5-Year Plan, the Charity plans to build and maintain the level of free reservesto be at least three months of operating expenditure. Progress is reviewed on a regular basis by Trustees at the Finance & Resources Committee, and at Board meetings. As at 31 March 2025, the Charity's total reserves (restricted and unrestricted) had a mlnor decrease from £3,658,085 to £3,634,408. Of these total reserves figure at 31 March 2025, £3,286,14012024: £3,223,729) related to unrestricted reserves and £348,26812024: £434,356) to restricted reserves. Of the unrestricted reseNes figures at 31 March 2025, £2,551,98612024: £2,240,502) is represented by fixed assets. The level of free reserves at 31 March 2025 is £734,15412024: £983,227). The restricted reserves of £348,268 Is detalled by activity in note 23. These reserves are the result of funders makinggrants in advance of 2024125. They are likely to be fully expended in 2025126 with the exception of the Salisbury Parent and Babyfund which consists of £224,000 (2024: £252,000) received from the Community of St Denys for the running costs of the home for the next 8 years and an initial 3-year grant1£60,0001 from the Burnbake Trust which at 31 March 2025 has £25,000 and one year left. Complaints We have received no complaints about fundraising activities. All other complaints were dealt with through the Charitvs complaints process. 101 Page Akbara R4poftdtheThistees For rend Trustee< Responslbllttles Company law requlres the Trustees (who are a150 the Director of Alabaré for the Purpo￿ of cornpany law} to prepare financlal stst•nents for eath Ilnandal year that gSve a true and falrvlew of the ststÈ of affairs of the Chirity at tha and of the year. and of the Incoming and outgoin8 resourcesfor the year then erbded. preparing those finandal ststements the TNstees are requlred to selett sultable accounting poliaes and then apply them conslstently, m*JnE Judgements and estknatts that are reasonable and prudehL The Trustees alw must prèpirè the finahclal statements on the goir6 cohcern basls unless It Is Inapprowlate I presumethat the Charity wlll contlnue its activa￿e& The Trus1￿5 8re respMslble for keepkng proper accountkng records whlch dlscbjse wlth reasonable accuracy at any tlme the flnandal ￿sItION of the Cfrarlty and to enable them to ensure that the flftanclal ststements comply v41th the Companles Act 2006. The Trustees also are responslble for safeguardlng the assels of the charfty and hentr for takln2 reasonable stsps for the preventlon and detettion of fraud and other Irregulari¢le& Statement of Dlsclosures to Audltor Each Trustee of the Charlty has confirmed in fi￿filling his/lRr dutie5 as a T￿￿tte= (a) So far as e&hTrustee is aware, there is no relevant audlt Information of whith the Charws auditors are unaware. Ibl Each Trustee has taken all the steps that he/she ought to have taken as a Trustee ln ordèrto m•ka hlrnseiflherself a%Ydre of any rqlgvgnt audit inforniatM)n and to establish th4t the Charivs audltors are aware of that Infomiatlon Auditors A resolutlon to rfrappolnt Fawtetts LLP as auditors for the ensulng year WIN be proposed. The flnanclal statements were approved and iuthorised for Issue by the Board of Trustees on .1 and were SiBned on behaff by Malcolm ssells- Ch4lr of Tr 5tees 111 Page Report of the Independent Auditors To the Members of Alabaré Oplnlon We have audited the financial statements of Alabaré {the 'charitable company'l for the year ended 31 March 2025 which comprlse the Statement of Financial Activities. the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, includin8 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 Accounting Practicel. In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRCS 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 basi5 for our opinion. Conduslons relatln8 to 8olng concern In audttin8 the financial statements, we have concluded that the trustees, use of the going concern basis of accountin8 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 slgnificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the flnanclal statements are authorlsed for issue. Our responsibilities and the responsibilitie5 of the trustees with respect to 80in8 concern are described in the relevant sections of thls report. Other Infomiation The other information comprises the information included in the trustee5' annual report, other than the financial statements and our auditorfs report thereon. The trustees are ￿sponsible for the other information. 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 expre55 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 5tatement5 or our knowledge obtained in the course of the audit or otherwise appears to be rnaterially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material mi55tatement 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. Opinion5 on other matters prescribed by the Companies Art 2006 In our opinion. based on the work undertaken in the course of the audit- the information given in the trustees, report lincorF)orating the directors. reportl for the f inancial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the Directors included within the Report of the Trustees has been prepared In accordance wlth appllcable legal requirements. 12 Report of the Independent Audltors Icontlnued) To the Members of Alabaré Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have rbot identified materlal mlsstatements in 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: adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us,. or the financial Statements are not in aEreement with the accounting records and returns- or certain disclosures of Trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the Statement of Trustees. Responsibilities set on page 11, the Trustees (who are Iso direttors of the charitable company for the purposes of company law and trustees of the charity for the purposes of charity lawl 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 charitable companws 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 realistlc alternative but to do so. Auditorfs responsibilities for the audlt 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 IUKI will always detect a material misstatement when it exists. Mlsstatements 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. Identifying and a55e55ing potential risks related to irregularities Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above, to detect material misstatements in re5pert of irfegularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= the nature of the industry and sector, control environment and financial perfDrrnance; results of our enquirie5 of manaEement about their own identification and assessment of the risk5 of irregularities,. any matters we identified having obtained and reviewed the charity's documentation of theif policies and procedures relating to.. identifying, evaluating and complyin8 With laws and regulation5 and whether they were awa￿ of any instances of non-compliance,. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspetted or alleged fraud- - the internal controls established to mltigate risk5 of fraud or non-compliance with laws and regulations the matters discussed among the audit enga8ement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 13 Report of the Independent Audltors (contlnued) To the Members of Alabaré As a result of these procedure5, we considered the opportunltles and Incentlves that may exlst wlthln the organlsation for fraud and identified the greatest potentlal for fraud in the following area: revenue and Surplus recognition. In common with all audits under1SAs IUKI. we are also requlred to perform specific procedures to respond to the risk of management override. We have also obtained an understanding of the legal and regulatory frameworks that the charlty operates In, focusln8 on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web51te at- www.froorg.uklauditorsresponsibilities. This description forms part of our auditor's reporL Audit re5pon5e to risks identified As a result of performing the above. we identified revenue and surplus recognition a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements- - enquiring of rnanagement concerning artual and potential litigation and claims: reading minutes of meetings of those charged with governance and reviewing any Corresponden￿ with the Regulator of Social Housing and In addressing the risk of fraud through mana8ement override of controls, testing the appropriateness of Journal entries and other adjustments: a55e55ing whether the judgements made In making accounting estimate5 are Indlcatlve of a potential bias,. and evaluating the bu5ines5 rationale of any significant tran5attlons that are unusual or outside the normal course of buslness. We also communicated relevant identified laws and regulations and potentlal fraud rlsks to all engagement team members and remalned alert to any Indlcatlons of fraud or non-complian￿ with laws and regulations throughout the audit. Because of the Inherent Ilmitations of èn audit, there is a risk that we will not detert all irregularitles. Includlng those leading to a material misststement in the flnanclal ststsments or non-compllance wlth regulation. This risk increases the more that compllance with a law or regulation is removed from the events and transactlons reflected In the financial statements, as we wlll be less Ilkely to become aware of Instances of non I year Flxed assets Total Restricted funds Unrestricted funds.. General - fixed assets General - other funds 348.268 348,268 4,855,019 9,000 {287,3591 725,154 12,015,674} 2,551,986 734.154 Net assets at the end of the year 4,864,019 786,063 12,015,674) 3,634,408 Comparatlve analysls of net assets between funds for the year ended 31 March 2024: Net current assets Cfedltors > I Flxed assets year Total Restricted funds Unrestricted f unds: General - fixed a55et5 General - other funds 434,356 434.356 4.829.340 1277.7211 974,227 12,311,117) 2,240,502 983,227 Net assets as at 31 March 2024 4,838.340 1,130,862 12,311.117) 3,658,085 25. Related party transartlons There are no related party transactions12024: none). 26. Status The charity is limited by guarantee and has no share capital. 28