Charity Registratlon No. 1007319 Company Registratlon No. 02281535 (England and Wal¢8 PRAXIS SERVICE REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
PRAXIS SERVICE LEGAL AND ADMINISTRATIVE INFORMATION Dlrector M Robinson Trustees M Robinson S Murthwaite Dr J M(x)r8 K Moore B McAJoon S•crgtary S E L Murthwaita Charlty number 1007319 Company numb8r 02281535 Reglsterad office Praxis House Park Close Newcastle upon Tyne Tyn8 and Wear NE4 6SB Indapendent examlner RSM UK Tax ané Accounting Llmlted Chartered Accountants 1 St. Jam8s' Gale Newcastle upon Tyne United Kingdom NE14AD
PRAXIS SERVICE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 truste8s' present their report and financial statem8nls for the year end8d 31 March 2024. The financial slalements have been prepared in accordance wlth the accounting pollcl8s sel out In note 1 to the rinancial slaternents and comply wlth the Chadlies Act 2011, the Companies Act 2006, the Memorandum and Artides of Association, and ACCOUnn9 and Reporting by Charilles: Statement of Recommended Practice applicable lo charitles prepanng their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). Objoctfves and acllvltles Praxis SeNic8 (Praxis) 8xisls for the bènefit of Ihè public through the provision of ils services to any rnemr of the public who is homeless and who is referred lo Praxis through Newcaslle City Council's homeless services. They ale likely lo have comptex needs and incjude women with dependent children. All Ihe services provided by Praxis are wilhin the aims and objectives as set out in the Memor8ndum and Articles ofAssociation. Throughout the revfew of oblectlves and acllvltles section of this report, we have Identlfled and evaluated the beneflls thal Indlvlduals galn from accesslng our services and maxSmizlng Independence through self-dlrecled Support. In shaping our objecllves for the year and planning our activitles. the trustees hav6 considered the charlty commission's guidance on public benefit, including the guidance 'public ben8frt.' running a charity (P82}'. Obl8ctlves'. to promote and advance the soci81 welfare and h¢Juslng needs of people who are finand8ly dlsadvantaged. suffertng or recovedng from mental illness, alcoholism, or chemlcal addictlons. lo provide advlce, Irealmenl. and support through the provision of both community services and the development and management of housing schemes. to provlde accommodation for indivlduals or groups in speclal houslng need. wlthout dlstinctlon of sex, sexual orientation, race. political, religious, or other opinions.. and lo assist Service Users towards Moving On inlo their own independent ac(x)mmodahon. Praxls continues to manage malor prolects, comprlsing of seven separate propertles, wlthln the Newcastle citywlde Supported Accommodation and resoltlemenl support for homeless people contract. All the referrals lo these projects are m8de through tho Housing Advice Centre adminlstered by Newcastle City Coundl. The system of referral of potentlal service users Is compulerlsed through the Gateway system. Both men and women (induding women with dependent children). are homeless al the polnl of referral and come from a rarge of diverse b8ckground8. They have complex needs and if accepted, are allocated a place in one of our two projects. Their needs are assessed 81 the point of enlry to our setvlce and staff offer support, advlce and asslstance through a Support Plan to help addr6SS their need and move towards resettlement in thelr own lenanc18S. SeNlce Users are assisted to galn or retaln meaning1 relationshlps wlth trteir friends and famSlles. Seryice Users are assisted In their engagement and relationshlps with Important agencles such as Social Services. the Department of Work and Pensions. Probation, Mental Health services and in links with the wider community. Service users ar8 8ncouraged to participate in a wide range of sport, leisure and work activities.
PRAXIS SERVICE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 In 2014, Praxis became part of a Consortium contractual arrangement, led by the Changing Lives organisation and two other partners. Action Foundats'on and Thirteen Care and Support. This established a new Supp)rting People Contract with Newcastlè City Council which ended in April 2019. Thirteen Care and Support organisation have now withdrawn. and ils housing serVIS have be6n Iransferred lo Changing Lives and the contrad was renewed for an additional three years, up lo March 2022, then an additional extension of the contracts lo October 23. A further extension was agreed with the current contract end date being March 25. The Consortium managers meet on a bmOnthlY basis to review progress of the Contract and its consliluenl parts. and to consider new developments. Praxis. staff continue lo benefit from shared training opportunities and assistance in the compulerisation of records using Ihe Inform system. This means that all support work of clients is centrally recorded and achieves a range of importanl purposes and outcomes. Praxis is also part of the Newcastle City Council's Gateway system which is also computerised. This allows for potential clients of Praxis Service lo be promoted Ihrough this system and lo help evaluate a range of importanl outcomes. These include length of stay In Praxis accommodation.. move-on arrangements,. reasons for leaving Including eviction and the labulatFon of the number of referrals over lime and the number of acceptances and refusals. This service continues to Pfovide high quality accommodation for up to eight mothers with their dependenl children. AJI of our families have complex needs and high percentages are involved with slatulory services such as Social Service departments. Although some of our families are clearly identified as fleeing domestic violence, many of them do not fall straighfforwardly into this category. Many of the women wish to maintain wne relationship wtth Iheir previous partners and Praxis staff work with olher agencies to facilitate contact belween fathers and their children. This service specialises in work with the mothers With dependent children who may be involved with Newcastle Social Care and a range of complex situations. This involves a high degree of team working Wlth our partner agencies and the work is inlense and demanding. Amongst a range of important outcomes includes the prevention of children being lookèd aftèr by the Local Authority. This Service consists of two large-terraced houses at Nomanlon Terrace in the Wesl End of Newcastle and provides high standard accommodation for tsvelve men and women. The women's house at Normanton Terrace now accommodates some women with their dependent children due to high demand for family accommodation. Our third property is based at Praxis House. This property is a large detached modern house standing in its own, well stocked gardens. The property has been extensive renovaled and provides very comfortable accommodation for up to seven men and womèn. Brighton Grove. recently modernised is also in ihe West End of Newcastle. This is a 1arge-tÈrrad propety for the occupation of up lo six Service Users. Our sixth is a five bedded lerraced house also in the Wesl End of Newcastle. This has been updated to a very high standard. Our new seventh property, currently being modernised due to open In the Autumn, Is going lo be an addStional 3 units for women and children. All seven properties have HMO status through Newcasde City Councll. Achievements and performan¢0 Financial review The princlple funding sources of Praxis are Housing Benefit Income receive(I from Newcastle ciiy cncil and SIAPPOrting Pgtspl8 income. The total income from these $ourc•s Is ghown in notts 3. Al 31 March 2024. the total Unsl¢led reserves stood at £1,838.378 {2023'. £1,675.830>, and restricted resgrve5 at £nil {2023: £nil}. Included within restricted reserves is a balance 01 £559.929 {2023.' £805,000} which is designated as £527,623 12023.. £750.000) for a future wom8n and children's project premises, and £32.30612023'. £55.000) for property upgrades.
PRAXIS SERVICE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Reserves policy Th8 Support Service Manager has th8 power to invest in such investments, Securities, or property as they see fit subject to any reslricli¢Jns imposed by law. The tnJste8s identify that they wish to pursu8 a polrcy of holding sufficignl cash deposits in our various bank ac(x)unts to cover varioLts potential contingencies. This was achieved in the year. The trustees consider that the 18Tget for fr8e reserves should remain in th8 sum of £100,000. Excluding fixed assets and designated funds, Ihe unrestricted resenies are £561,106 12023.. £348,6491- The trustees *e reviewSng the reserves held in excess of this tsrget lo identify areas where Praxis can ¢Xsnlribule further to tis t)bjective$, includlng identlfying the need for additional slaff resources or addillonal propertles for the projects. Thg charlty participates In the Tyne and Wear Pension Fund. Following a valuation at 31 March 2021 contrlbutlon rates from 1 Aprfl 2023 are 27.1 %. Key rlsks management During the year the Iruslees reviewed their risk man8gemenl plan. As p8rt of the risk man8gem6nl process, the trustees hgve Implemented a rlsk management strategy, whlch comprls8s of: • an annual revlew of the rlsks, whkh the Charity may face. delalled action plans lo mltlgale those rSsks id6nlilled', and the implementation of procedur8s deslgned lo mlnlmlse any potentlal Impact on the Charlty should Y of those risks malerialise. Th8 risk management focused on the need to maximise relums from their curr8nt cash r&serv8s, ensure new developments in the Supporting People requirements are kepl abrea81 of and initial8 compliance measures as and when appropriate. The Irust8es also recognise the increasing burden of the stsp8rannualion scheme and aro keeping abrèast of 8ny increased cosl. Golng concern The trustees have reviewed the sources of income for Praxis and expect no material change in the 18vel$ of incoming resources. The trustees have also reviewed the levels of expenditure incurred by Praxis and expect no material change in the level of outgoing resources. Given the level of funds avai18ble, the Iruslees are confident that they have sufficient funds to ongoing expenditure and othèr liabrfitiés as thèy fall due. Based on the cash rèseNes held by Praxis, and tho consistency in th8 monlhly managèmenl accounts, Ihe Iruslees arè confidènt that Praxis has adèquate rosources lo continu8 in op8ralional 8xislenc8 for the foreseeable future. Thus. the Trustees continue to adopl the going con¢em basis of accounting in prnparing the rinancial slatemenls. Structhm. governance and management Praxis Service is a charlty which was registered wlth the Charlty Commlsslon on 13 January 1992. number 1007319. It is also a private company limited by guarantee ancl not havlng share caprtal, being registered with Companies House on 28 July 1988 under company number 02281535, governed by its Memorandum and Articles of Association. The director who served the charfty during the year and the slnce the year end was as follows: M Robinson
PRAXIS SERVICE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 As well as the diraclor a numbef of people acted as tru$ie88 dunng th8 y8ar. and these are.. S. Murthwaile M. Robinson (Chairi Dr J. Moor• K. Moore 8. McAJoon Truslees can be appolnle(l andlor leave the eommillee 81 any poinl during the year. Praxis advertise$ in the local press and on the Intemel lor new Poienlial Irusie&s. New Iru81ees ore oiven de8r insirucllon 8nd Infomialion on their range of new respons5b11Tre$ as well as having Ihe opportunity Ic attend Iralnlng COUf5es. partlcularty Ihose run by New¢aslle Council for Voluntary Services. The siaff team is m8naged by a Support Sefvice Manager, P Gillingham BA and there is an organis81fv)nal Slruclure which includes hvo Senior Proieci Workers. an Adminislralor, a part-lime Bookkeeper, and a 18am of Project Woikers. rh• Iru8t•g8 consider k8y rnanagement comprise the charity's trusle&s and Ihe servlcg maviaggr who we Sn charge ol directing and controlling. running and op8r8ling the charity on a d8y-l04ay basi$. All trustees giv8 their lim6 fre¢ly and no Iru$ie8 re¢eiv8d remuneration in the year. Details of Iru51ees' expenses and relaled party Irans8¢1ions are disclosed in nOlo5 9 and 16 to the accounls. The pay of tho support serviee manager Is reviewed annually and normally increased in accordance wilh average earnings. Tru8tees' responslbilities In relatlon to the financial ¥tatement• rhe Trustees (who are also the directors of Praxis Service for the purposes of compony lawl are responsible for preparing a Trustees. Annual Report and financlal 81atemenls In accordance wllh appllcable law and UK Accounting Siandanjs Iunlleil Kingdom Generally Accopled Accotsnling Praclic8}. Company law requires the charity Iruslees lo prepare financial statements ts each year which gtve a Iruè and fair view of th8 slate of affairs of the charilable company and ol the Incoming resources and application of re$ourc8S, includin9 th8 incom8 and expgnditure. of Ihe charilabl8 company for that period. In prew'ng the f6n8ncial slal8m8nls. the Trustees are required lo.. Sdeci suitable accounting practices and then apply Ihem con$islenUy', Ob5eNe the methods and principles in Ihe applicable Ch8rilies SORP, Make judgemenls and èslimalos that are 80n8b10 and prudent., Slalo 7kneiher applicable UK a¢counling 51andards have beon followed., subject lo any material departure$ Ih81 musl be dlsclosed 8nd explained In the financial slaiemen15; and Prepare Iho financlal 518lements on the going concern bas15 unless il Is inapproprlate to presume that Ihe ¢harilable company wlll continue in business. The Trustees are responsible for keeping adequate accounting records Ihal disclose with reasonable accuracy at any time the fin8ncial position ol the chanta8 company and to enable them lo ensure that the financial stalern8nls comply with the Compenies Act 2006. They are also responsible for safeguarding the 855ets of the charitable company and taking reasonable steps for Ihe Prevention and detection of fraud and olher irregularities. The Trustees, Reporl was approved by the 8oard of Truslees. M RobSn$on Directoi
PRAXIS SERVICE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRAXIS SERVICE I report on th8 financial 5tat8ments of the charitable company for the year 8nd8d 31 March 2024, which ar8 set out ¢)n pages 610 19. Responslbllltles and basls of report As the Iruslees of the company (and also ils directors for the purposes of company 18wI you are responsible for the preparation of Ihe accounts in accordance with the requirements ol the Companies Act 2006 {'the 2006 Acl.). Havlng satlsfied myself that the accounts of the company are not required to be audited under Part 16 of thè 2006 Acl an(t are eligible for independent examination I report in respect of my examination of your charity's accounts a5 carried out under section 145 of the Charlties Acl 2011 ('the 2011 Acl'l. In carrying out my exarninatlon I have followed the Directions given by the Charity Commission under section 145 (5){b) of the 2011 Act. An independent examination does not involve gathering 811 the eviden that would be required in an audit and consequently doe8 not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an indep8ndent examination (an provldo. Consequenlly, l express no opinion as lo whether the accounts pr8senl a 'true and fair view, 8nd my report is limited to thos8 specific matlers set oul in the independenl examiner'8 Statemgnt. Independent examlnorfs slat•m&nt Since the company's gross income exceeded £250,000 your examiner must be a mèmber of a body listed in s8ction 145 of the 2011 Act. I confifm that l am qualified to undertake the examlnation because l am 8 member of The Instilule of Chartered Accountants In England and Wales, whlch is on6 of the Ilsled bodies. I havo compleled my examination. I confimi Ihal no malerial matters have come lo my attention in conne¢lion with the examination giving me 98Qnable cause lo believe Ihat in any material respect.. 11) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act: or (21 Ihe accounts do not accord wlth those records.. or (31 the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act othor than any requirement that the accounts give a 'lrue and falr vlew, which Is not a matter consldered 85 part of 8n Independent examlnalion; or 14) the accounts have not been PrePad in accordance with the methods and principles of the Statement of Recommended Praclice.. Accounting and Reporting by Charities applicable to charities preparing Ih8lT accounts in accordance with th8 Financial Reporting Standard 8pplic8ble in the UK and Ireland IFRS 1021. I hava no concerns 8nd have rne across no othèr matters In connecllon wlth the axamlnollon lo vthlch attention should be drawn In Ihls report In ord61 to enable a proper understandlng of the accounts to be reached. Signed: Name.. Lucy Robson Name of applicable Ilsted body: ICAEW Relevant profession81 qualification or membership of professional body.. FCA On behatf of RSM UK Tax and Accounting Limited Charted AccotJnlant$ 1 St. Jarnes, Gate Newcastle upon Tyne United Kingdom NE14AD 06111/24
PRAXIS SERVICE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrostrlcted Restricted funds fund8 Total 2024 Total 2023 Notes Donations and legacies Charitabl8 activities Investments 2.069 730,785 1,394 750,695 7,107 750.695 7,107 Total Ineomo 757,802 757,802 734,248 Charitable activities 595.254 595.254 582.100 Total expendlture 595.254 595,254 582,100 Net income for the year and nel movement in fund• 162,548 162,548 152,148 Totsl funds brought forward 1,675,830 1,875,830 1,523.682 Total lunds earrfed forward 1,838.378 1,838.378 1,675.830 The stalement of finanGlal act1vie3 Includes all gains and losse3 r8¢ognlsed In Ihe year. All income and exp8ndilurg deriv8 from continuing aclivities. The statement of financial activities also compli8S With the requirements for an income and expenditure account und8r the Companies Act 2006.
PRAXIS SERVICE Company Reg18tratlon No. 02281535 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 Not•8 2023 Flxed ass•ts Tangible 8$seis 10 717.343 522.181 Curr•nt as8•lJ Debtors Cash al bank snd in hand 11 80.447 1.076,423 59.075 1.109,116 Creditors: amounts falllng due wllhln one year 1.136.870 1.168,191 12 (15,83SI 114,5421 Nel curronl assets 1,121,035 1,153.649 Total •ss•ts curronl1Sabllltl&s 1.838.378 1.675,830 Funds General unrestn'cted funds D•snated lund 14 14 1,278,449 559.929 870,830 805,000 1.838,378 1,675,830 1.838,378 1.675.830 The cornpany Is eniitied lo the exempbon from the oudil requirement contalned In se10n 477 01 the Ctjmpanles A¢t 2006, lor the year ended 31 March 2024. No member of th8 company has deposited a noll¢e, pursuant lo secllon 476, requiring ar¢ audll of thes6 financial statements. These financial slalemenis have been prepared in accordaneo with the provisions appllcable lo companles subject to Ihe sm811 companies. reglme. The financial 8lalemenl8 were approved by the Director and aulhorised for issue on .. . .. M Robinson Dlroctor
PRAXIS SERVICE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes ash flows from operating activitfes Net cash provided by operating activiti8S 17 179.257 155,807 Invostlng actlvltles Purchase of tangible fixed assets Inleresl received 1219.057) 7,107 (17,976) 1.394 Net cash used In Investlng acuvltles (211,9501 116,582) Net Idecrease)fincrease in cash and cash equivalents 132,693) 139,225 Cash and cash equivalents at beginning of year 1.109,116 969.891 Cash and cash equivalonts at end of y•ar 1,076,423 1,109,116
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Infomiatlon Praxis Service (the 'charilable companV) is a private company limited by guarantee incorporated n England and Wales. The registered office is Praxis House. Park Close. Newcasue uwn Tyne. Tyne and Wear, NE4 6S8. The Charitab company's operations and principal actlvities are describeij in the Trustees, Report. 1.1 Accounting convenllon These financial ststements have been prepared in accor(fance with FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland. {FRS 102} second edition (effective 1 January 20191 "Accounting and Reporting by Chartties" the Statement of Recommended Practi for charitiès applying FRS 102. the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The chariiable company is a Public Benefit Entity as defined by FRS 102. The financial stalements are prepared in sterling. which is the functional rrer of the charilable company. Monetary amounts in these financial statements are rounded to the nearest £. The finan¢ial statements have been prepared under Ihe hlstortcal cost convention. The prfncipal actounllng policies adopted are set out below. 1.2 Going eoncem Financial Reporting Standard 102 requires. if appropriate. Ihg charitable company's financial stataments are prepared on the going conrn basis. which means that the chariiable company is able to operate for the for85e8able future on the basis of known and reasonable projected resources. The trustees have VieWed the sources of income for Praxis and expect no malerFal change in the levels of income. The Iruslees have also reviewed the levels of expenditure incurred by Praxis and expect no material change in Ihe level of expenditure and are confident that a renewal of services will be agreed with the Commissioners. Given the level of funds available. the trustees are confident thal they have sufficient funds io ongoing expenditure and other liabilities as they fall due. Given the cash reserves held by Praxis, and the consistency in the monthly management accounts. the trustees are confident that Praxis has adequale resources to continue in operational existence for the foreseèable future. Thus. the Trustees continue to adopt the going concem basis of accounting in preparing the financial stslements. 1.3 Charitable funds Unrestricted furids are available for use at the discretion of the director in furtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds a unrestricted fvnds thal have been eamiarked by the Injslees for a specific purpose. Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Rgstrictions arise when specified by the donor or when funds are raised for particular r8skn¢led purposes. 1.4 Income Income 15 recognised in Ihe pariod in which tha Charitable company has entitlement to the fvnds. Y Conditions attached to the income have been met. il is probable that the income will be received and Ihe amount can be measured reliably. Donations and legacy Income are included in the Statement of Financial Activsties when receivable. In accordance wikn the Charities SORP {FRS102) general volunteer tim6 is not recognised.
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aceounting pollcles (Contlnuèd Income from charitable activities is recognised in the Statement of Financial Activities as received. Interest on funds held on d8posil is included when receivable and the amount can be measured reliably by Ihe charilabla company; this is normally upon notification of the interest paid or payabl8 by thè bank. 1.5 Expendltur? Expenditure is all considered as expendilure on charitable activities. Expendrture is recognised once there is a legal or constructive obligation to make a payment to 8 third paty.. il is probable that settlément wim be required and the amounl of the obligation can be measurèd reliably. Expenditure is Included In the Statement of Flnancial Actlvltles on an accwals basis, Inc4usive of VAT. They Indude.. Charflable expendlture comprises those costs incurred by the charitable company In the delivery of its aclivilies and services for ils beneficiaries. It includes both Ix)sts that can be allocated diredy lo such activities and Ihose costs of any indirect nature n8cessary to support them. Governance costs include those costs associ818d with meeting the constitutional and the statutory requirements of the charitable company and include the audit f8es and costs linked to the strategic management of the charitable company. 1.6 Tanglbla flxod assets Assets worth £250 or more are capilalised upon acquistion. Tangible fixed assets are initially measured al cost and subsequonlly measured at Cost, net of depreciation and any impaimient losses. Depreciath'on Is recognlsed so as to write off the co81 of assets less their residu values over thelr useful IIv85 on the following bases.. Freehold properties Plant and equipment 2ts/o Straht line 20°A reducing balance Subsequent costs, Induding replacement parts are capitallsed only when 11 Is probable that such costs wlll generate future economlc beneflts. Any replaced parts or remalnlng carrylng amount$ ar8 then dere¢ognlsed. All olh8r costs of repairs and rnalntenance are charged to profil or loss as IncUed. The gain or kJ$s arising on the disposal of an asset is d8ternined as the difference between the sale proceeds and the carwng value of the asset, and is recognised in nel incom81(expenditure) for the year. 1.7 Flnanclal Inslrumgnts The charitable company has electèd to apply the provisions of Sedion 11 'Basic Financial Inslruments. of FRS 102 to all of ils financial instruments. Financial inslrum8nls are recognised In the charilable company's balancè sheet whgn the charitable company becornes party to the conlraclual provisions of the inslrumenl. Financial assels and liabilrties are offset, with the nel amounls presented in the financial statements. when Ihvro lo u IGgally GnlorGcaL>le right Io 3ei oif Lhe recogniseu amounis Inere Is an Intonlion to settlo on a net basis or to realise the asset and seitle the liability slmullaneously. 10-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles (Contlnued) Baslc financial assets Basic financial assets, which include Irade and other debtors and cash and bank balances, are initially measurèd at Iransaction pnce including transaction costs and are subsaquently carried al amorbsad cost using the effective inleresl method unless the arrangement conslilules a financing Iransaclion, where the Iransaclion is measured al the present value of the future receipts discounted al a market rale of nleresl. Financial assets classifièd as receivable within one year are nol amortised. Basic ffnanclal liabllltles Basic financial liabilllies. Sncludlng other creditors, are inllially recognised at transactlon prlce unless th8 arrangement constilules a financing transacts'on, where the debt instrurnenl is measured al the present value of the future rec6ipts discounted at a market rate of interest. Financial liabilits'es dassified as payable within one year are not amord5ed. 1.8 Employ•9 benofits The costs ol short-lerm employee benefits are recognised as a liability and an expense, unless these costs are required lo be capitalised as an inlangible or iangible fixed asset. Certaln employees are entltled to carry fward unused hollday enlitlemenl at the reporting dale. The cost of any unused entSllement Is recognlsed In the peTlod In whlch the employee's servlces are requlred. 1.9 Retlrement benefft8 The charitable company participat8s in a mulli4mployer pension scheme for its employees, For the scheme contribution$ are recognised as &xp8ndilure in the period lo which they relate 88 there 15 in8uffici8nt information 8vailab181o usa dafined benefit accounting. Where applicabl8, a liability is recognised for contribulions arising from an agreem&nl wilh the multi-empbyer plan that delemines how Iho charitable company will fund a deficit. Contributions aro discounted, al a rate according lo FRS102, when they are not expecled lo be settled wholly wilhin 12 months of the period end. The unwinding of the discount rate is recognised as a finan cost. 1.10 Government grants Government grant5 are recognlsed at the fair value of the asset recelv8J or receivablè when there Is reasonable assurance that the grant cond5tlons wlll be met and lh8 grants wlll be recelved. Government grants r81ating lo tumDv8r ar8 recognised 8s income over the periods wh8n the related costs are incurr8d. Grants relating lo an asset are recognised in income systematically over the asset's expected useful lrfe. If part of such a grant is defeired il is recognised as deferr8d income rather than being dèdLrled from Ihe asset's carrying amount. Donatlons and 18gacles 2024 2023 Donatlons and glfts 2,069 11
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable actlvlties 2024 2023 R8nts and supporting people income 750.695 730,785 Investments 2024 2023 Bank interest recelvable 7,107 1,394 Charltable actlvitles 2024 2023 Staff costs 317,315 261,444 Share of supwrt costs (see nole 6} Share of goveman¢e costs (see note 6) 255,871 22.068 301,618 19,038 595.254 582,11XI Analy$ls by fund Unrestricted funds 595,254 582,100 12-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Govornance costs costs 2024 2023 Depreciation Office costs Printing, postage and slallonery Oulings Travel and subsislenc8 Rehabllltation and welfare Food and calering Premis8s costs Repairs and renewals Head offlce rent Other costs 23,895 14,082 2,052 10.756 7,319 16.408 2,121 73,349 80.646 22.100 3,143 23,895 14,082 2,052 10,758 7.319 16,408 2.121 73,349 80.646 22,100 3,143 24,180 12,007 3,556 13.674 3.945 24.279 3.479 76.810 121.691 15,600 2,397 Legal and professional Accountancy fees Independent examlnalion and statutory accountancy fees 6,958 10,070 6,958 10,070 5.407 9.077 5,040 5,040 4,554 255.871 22,068 277,939 320,656 Analysed between Charitable activities 255,871 22,068 277,939 320,656 Ngt movemonl In funds 2024 2023 N8t movem8nl in funds is stated after charging.. Depreclatlon of owned tanglble flxed assets Independent examination fees Accountancy fe8s 23,895 1.320 3,720 24,180 1.200 3,354 Ernployae$ Number of employee8 The average monthly number emrAoy885 during the year was.. 2024 Number 2023 Number Employees 13-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees {Contlnued) Employrnent costs 2024 2023 Wages and salarl8S Social security costs Other pension CL)sts 274,749 23,616 18,950 220,698 18,870 21.876 317,315 261,444 The number of trustae's to whom retirem8nt benefits arè accruing under money purchase schemes was nil (2023.. nill. One empbyee &amed In excess of £60,000 during the year12023.. 1). Stsff $alarfos (excludlng penslon) 2024 2023 £60,001-70,000 . No expenses were reimbursed to the trustees during the year12023: nll). During the y8ar, the charitatle company paid trustee's indemnlty insurance of £nil (2023.. £nil). Dlroctor and trustees Key management comprises the Iwst8es and Ihe general manager. None of the trustèes (or any persons conn8cled with them) rèceived any remuneralion or benefits from th8 ¢harilable c¢)mpany during tha current or previous year. The tolal rèmuneration of kèy management was £97.270 {2023.' £92,534). 14-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Tangible flxed asset8 Freehold Plant and prop•rtles fyqulpment Total Cost At 1 April 2023 Additlons 645,067 204.950 183.772 14,107 828,839 219,057 At 31 March 2024 850,017 Depre¢latlon and impalrment Al 1 April 2023 Depreciation ¢harged in th6 year Al 31 March 2024 197.879 1,047.896 170.264 13,924 136.394 9,971 306.658 23.895 184,188 146,365 Carrying amount Al 31 March 2024 330,553 665,829 51.514 Al 31 March 2023 717,343 474.803 47,378 522.181 11 Debtors Amount8 falllng due whhln on• y•ar.' 2024 2023 Trade debtors Prepaymenls and accrued income 21,715 38,732 20.361 38,714 60,447 59,075 12 Creditors: amounls falllng due wlthln ono year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 6,839 1.886 7,110 5,894 2,294 6,354 15,835 14,542 15-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Retlrement benefft 8¢heme8 The charltable company particlpates in a multi*mployer pension plan, belng th& Tyne & Wear Superannuation Fund Scheme. The assets of the scheme are hèld s8parately from those of the charllable company in an independently adminlslered fund. The contributions payabl8 by the charitable company charged to income and expenditure amounted to £18.95012023.' £21,876). The pension fund is run as a MultomPloYer schem8 and as such it is not possible for the assets and liabilities of the fund lo bè id8nlified separately. As 8131 March 2022, the Tyne and Wear Pension Fund was vaknod. Due to deficit funding the required employerfs eonlnbulion rale from 1 April 2023 is 27.1°h. As al the balance sheet dale, there was 1 (2023: 1) aclivB members of the fund employed by the chailable company. 16-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Analy$l8 of charltable fund• Movemont In funds Income Expendituro Balance at 1 April 2023 Transfors Balance at 31 March 2024 Unrestrlcted funds General Designaled 870,830 805.0Tr) 757,802 (350,183) (245.0711 1,278,449 559,929 1.675,830 757,802 1595,254) 1.838.378 Reslrlcted funds 1,675.830 757,802 (595,254) 1,838.378 Movemant In fund8 Incom Expendlture Balanco at 1 Aprll 2022 Transfers Balanc• al 31 March 2023 Unrestrlcted funds General Designated 759,182 764,500 734,248 (582.1001 {40,5001 40.500 870.830 805,OIJ) 1.523.682 734.248 (582,100) 1,675,830 Re8trlcted funds 1,523,682 734,248 {582,100) 1,675.830 General funds are 'free reserves. after allowing for designated funds. From unrestricted fijnds, the trustees have made th8 following dosignations.. an amount of £527,623 to purchas8 and refurbish one additional propety to expand the Newcastle women and children project and potentially office spac8, following the purchase and refurbishment of 89 Normounl Road in the year,. and an amount of £32,306 has been alltxated for property upgradas and repairs. These works are ongoing. 17
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Anatysi$ of net as8els between funds Unrestrlcted Dèslgnated funds funds Resmcted fvnds Total funds Fund balances at 31 March 2024 are represented by.. Tangible assets Current assets cUen{ liabililles 717,343 576.941 115,8351 717.343 1,136,870 (15,835) 559.929 1,278,449 559.929 1,838,378 Unrestrlctod Deslgnat•d fund8 fund8 Restrlcted funds Total funds Fund balances at 31 March 2023 gre reprosenled by., Tangible assets Current assets CUent li8bllltles 522.181 363,191 114,542) 522,181 1,168.191 114,542} 805.000 870,830 805,000 1,675,830 16 Relatèd party transactlons There were no disdosable related party transactions dunng the year {2023.' none). 17 Re¢onclllatlon of not Income to nat ¢ashflow from oporatlng actlvttlos 2024 2023 Net income for the reFK)rting period (as per the statement of financial activities} 162.548 152,148 Adjustmonls for.. Investment Income Depreciation and impairment of tangible fixed assets 17,1071 23,895 (1,3941 24,180 Movements In worklng capltal: (Increase) in debtors Increas81(decr8ase) in cr8dilo (1,372) 1,293 118,539) 1588) Net cash provlded by operatlng actlvltles 18 Legal status of the charity 179,257 155,807 The charitable company is a Company limited by guarantee and has no share capltal. In the event of the charitable company being wound up, the liabih'ty in respect of the guarantea is limited to £1 per member of the charitable cofflpany. 18-
PRAXIS SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Taxatlon The charitable company is exempt from lax on income and gains falllng within Section 505 of the Taxes Act 1988 or Sectlon 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are appliEYJ to ils harilabte objects. 19