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2023-07-31-accounts

Registered number: 2769300 Charity number: 1015652

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THE PADLEY GROUP (A company limited by guarantee)

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Trustees’ report and financial statements

For the period ended 31 July 2023

THE PADLEY GROUP

(A company limited by guarantee)

Contents

Page
Reference and administrative details ofthe Charity, its Trustees and advisers 1
Trustees’ report 2-5
Independent auditors’ report on the financial statements 6-8
Consolidated statement offinancial activities 9
Consolidated balance sheet 10
Charity balance sheet 11
Consolidated statement of cash flows 12
Notestothefinancialstatements 13-28

THE PADLEY GROUP (A company limited by guarantee)

Reference and administrative details of the Charity, its Trustees and advisers For the period ended 31 July 2023

Trustees

J P Smith, Chair (appointed 14 July 2023) A Shaw, Chair (resigned 14 July 2023) M Connell, Vice Chair (resigned 14 July 2023) A Layzell, Secretary (resigned 14 July 2023) P Inman, Treasurer (resigned 14 July 2023) K Gosden (appointed 16 November 2022, resigned 14 July 2023) G Bennett, Vice Chair (resigned 18 May 2022)

A Armstrong (appointed 14 July 2023)

C Gillespie (appointed 14 July 2023)

G Harrison (appointed 14 July 2023)

G Sewell (appointed 14 July 2023) A Tudor B Samra (resigned 14 July 2023)

R Gourlay (resigned 14 July 2023)

Company registered number

2769300

Charity registered number

1015652

Registered office

27 East Street Derby Derbyshire DE1 2AL

Company secretary

K J Jackson

Independent auditors

Bates Weston Audit Ltd Statutory Auditors Chartered Accountants The Mills Canal Street Derby DE12RJ

Bankers

Lloyds TSB plc 43 lrongate Derby DE1 3FT

Page 1

THE PADLEY GROUP (A company limited by guarantee)

Trustees’ report For the period ended 31 July 2023

OUR AIMS AND OBJECTIVES

On 14th July 2023 the Trustees of Padley Group agreed to merge with YMCA Derbyshire and, in doing so, donated the assets and liabilities of the charity to YMCA Derbyshire Ltd. YMCAD Derbyshire Ltd is a company limited by guarantee and a registered charity and registered social landlord. The trustees of Padley Group believe YMCA Derbyshire is in a better place to meet the needs of Padley Group beneficiaries going forward than by Padley Group continuing on its own. It is the intention of the Trustees to formally wind up Padley Group as a legal entity over the next 12 months.

Public Benefit

Padley’s charitable objects as stipulated in the Memorandum and Articles of Association are shown above. During 2022/23, the public benefit achieved in meeting these objectives were through:

The Trustees have taken into account the Charity Commission guidance on Public Benefit in accordance with section 4 of the Charities Act 2006.

ACHIEVEMENTS AND PERFORMANCE

2022/23 has been a year of transition. The requirement by Derby City Council that Padley relocate from its longheld premises in Beckett St in order to fulfil a major redevelopment project has continued to impact on the activities of the charity. The housing element of services has been replaced, in conjunction with Derby Homes, by 18 self-contained dispersed housing units. This provision offers support and assistance to residents whilst developing their skills ———— a a Ug EES Page 2

THE PADLEY GROUP (A company limited by guarantee)

Trustees’ report (continued) For the period ended 31 July 2023

to enable them to move on to their own permanent accommodation. Other than the benefits to the resident of personal esteem, having a front door key and personal address- hugely important when seeking employmentthis new accommodation provision enabled Padley to provide direct housing support to females as well as males. The charity (The Padley Group) and its trading subsidiary (Padley Trading) also provided opportunities for work placements.

Community activity previously at Beckett Street has been relocated temporarily to re-furbished premises in Liversage St, Derby (day centre). However, despite these challenges, the charity maintained its work for public benefit. Since January 2023, Padley@YMCA Derbyshire has supported over, 800 people who have visited us 7372 for help and support. We have provided 6849 hot meals at our day centre, 2278 food parcels, 1290 toiletry parcels, and 423 clothing parcels. We have held 521 group support sessions and 415 1 to 1 support sessions. The total number of meals provided from our day centre and in our food parcels is 20,517. We have been successful in securing the community dental services truck that visits the day centre once per month and is always fully booked. Mid Mercia CAB runa clinic once a week from the day centre, making sure people are on the correct amount of benefits and reducing their Debt. Derby City employability services come once per month to help people in recovery from substance misuse back into work. Staff are to be congratulated on their professional and flexible response to the re-location challenges. Services were maintained to the maximum possible and our charitable objectives fulfilled at a time when circumstances were changing on an almost daily basis.

The annual Harvest campaign is crucial in maintaining and expanding the Padley food offer. Many churches throughout Derbyshire contributed to this campaign by providing food, toiletries and monetary donations. During Harvest 2022, many organisations contributed. We received almost £6,120 in financial donations. Our food supply costs were kept low thereby enabling the continuing production of high-quality nutritious meals for a fraction of what would be charged elsewhere. The Harvest operation was supported by two temporary staff providing valuable work experience and qualifications to beneficiaries who had recently been homeless and who had been supported to be ready for work. Our food operation during the Covid period was also supported by regular donations of fresh produce from individuals and local companies, including Morrisons, Griffith Foods, Sainsbury's (Chaddesden), St Peter's Church (Edensor) and through our partnerships with Food4Thought Alliance, Rolls Royce and Fairshare.

Many Donations were received during the year from companies, churches, organisations and individuals, including Griffith Foods, NFU Mutual, Loughborough Building Society, Davlyn Construction, Enterprise RAC, LDC Managers, Mortgage Advice Bureau, Enthuse, Institute of our Mercy, Central Derby URC, St. John’s Church Mickleover.

PLANS FOR FUTURE PERIODS

With the transfer of operations to YMCA Derbyshire on 14th July 2023 it is anticipated that the existing legal entity will be wound up over the next 12 months.

FINANCIAL REVIEW

The financial result for the year is detailed in the following Financial Statements. With the transfer of all assets and liabilities to YMCA Derbyshire on 14th July 2023 the accounts have not been prepared on a going concern basis.

Principal sources of funding

Total income for the 16 month period was £686,127 (12 months to March 2022 £590,723). Donations based income has fallen in the most recent period but this has been offset by a re-growth of housing based income as new properties were progressively mobilised. Income from Padley Trading activities has remained relatively consistent throughout. One off items of £93,903 relating primarily to a profit on the sale of fixed assets in 202122 have not been repeated.

Page 3

THE PADLEY GROUP

(A company limited by guarantee)

Trustees’ report (continued) For the period ended 31 July 2023

Resources expended

Operating expenditure includes the net value of the donation of the assets and liabilities of the charity, which was £462,000.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association as amended on 17 June 1996. It is registered as a charity with the Charity Commission.

Induction and training of Trustees

Padley advertised as necessary to recruit new Trustees, seeking to maintain a balance of skill-sets within the Board. The organisation normally operated with 8 to 12 Trustees, all being subject to re-election by rotation at the Annual General Meeting. When a new Trustee is appointed they receive an appropriate induction from the Chair and are supported effectively by existing Trustees.

Organisational structure

The Board of Trustees now administers the charity through periodic meetings with the aim of winding up the legal entity.

The Charity's wholly owned subsidiary, Padley Trading Limited, was established in 1991 to operate one or more retail shops including a textile recycling project. The shares in the subsidiary were transferred to YMCA Derbyshire as part of the merger process.

Principal risks and uncertainties

The Trustees examine the major risks that the charity faces when preparing the annual budget and business plan and when updating the strategic plan. Systems have developed to monitor and control these risks and mitigate any impact that they may have on the charity in the future.

TRUSTEES’ APPRECIATION

The Board would like to publicly acknowledge their appreciation of the Padley staff and volunteers without whom our achievements would not have been possible. Staff and volunteers have gone beyond ‘the call of duty’ to support our many clients which has enabled the service to function effectively. This has been particularly the case during 2022/23 as staff continued to meet the needs of our beneficiaries whilst also preparing for the merger and their transfer to YMCA Derbyshire.

Many local businesses and individuals helped us get through this most challenging of years including: Griffith Foods, NFU Mutual, Loughborough Building Society, Davlyn Construction, Enterprise RAC, LDC Managers, Mortgage Advice Bureau, Enthuse, Institute of our Mercy, Central Derby URC, St. John’s Church Mickleover. We would also like to acknowledge with gratitude the on-going support we receive from the Churches in Derby and Derbyshire who have continued to support so strongly the organisation that they founded.

Without such support the work of Padley would not take place. Thank you all!

TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also the directors of The Padley Group for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair ee Page 4

THE PADLEY GROUP (A company limited by guarantee)

Trustees’ report (continued) For the period ended 31 July 2023

view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Approved by order of the members of the board of Trustees and signed on their behalf by:
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(Cha Trustees)
Date: D6. Bay
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THE PADLEY GROUP (A company limited by guarantee)

Independent auditors’ report to the Members of The Padley Group

Opinion

We have audited the financial statements of The Padley Group (the 'parent charitable company’) and its subsidiaries (the 'group') for the period ended 31 July 2023 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the 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 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

Emphasis of matter

Financial statements prepared on a basis other than going concern We draw attention to note 24 in the financial statements, which indicates that the company transferred its trade and assets on 14 July 2023 and therefore do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

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

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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THE PADLEY GROUP (A company limited by guarantee)

Independent auditors' report to the Members of The Padley Group (continued)

Opinion on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

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

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the charity and sector in which it operates, we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

Audit procedures performed by the engagement team included:

Page 7

THE PADLEY GROUP (A company limited by guarantee)

Independent auditors’ report to the Members of The Padley Group (continued)

with applicable laws and regulations;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Wayne Thomas ACA (Senior Statutory Auditor)

for and on behalf of Bates Weston Audit Ltd Statutory Auditors Chartered Accountants The Mills Canal Street Derby DE12RJ

Date:

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Page 8

THE PADLEY GROUP

(A company limited by guarantee)

Consolidated Statement of financial activities (incorporating income and expenditure account) For the period ended 31 July 2023

Unrestricted Total Total
funds funds funds
2023 2023 2022
Note £ z £
Income from:
Donations and legacies 2 325,775 325,775 334,393
Charitable activities 3 249,643 249,643 85,482
Othertrading activities 4 108,859 108,859 76,904
Investments 5 1,850 1,850 41
Otherincome 6 - - 93,903
Total income 686,127 686,127 590,723
a
Expenditure on:
Raising funds 5,713 5,713 46,785
Charitable activities 1,139,289 1,139,289 589,867
Total expenditure 1,145,002 1,145,002 636,652
Netmovement infunds (458,875) (458,875) (45,929)
Reconciliation offunds:
Total funds brought forward 458,875 458,875 504,804
Net movement infunds (458,875) (458,875) (45,929)
Totalfundscarriedforward - - 458,875

The notes on pages 13 to 28 form part of these financial statements.

Page 9

THE PADLEY GROUP

(A company limited by guarantee) Registered number: 2769300

Consolidated balance sheet As at 31 July 2023

31 July 31 March
2023 2022
Note £ E
Fixed assets
Current assets
Debtors 12 - 54,530
Investments 13 - 133,748
Cash at bank and in hand - 411,715
- 599,993
Creditors: amounts falling due within one
year 14 - (141,118)
Net current assets - 458,875
Total assets less current liabilities - 458,875
Total net assets - 458,875
Charityfunds
Restricted funds 15 - -
Unrestricted funds 15 - 458,875
Totalfunds - 458,875

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

JP I (Chair of Trustees) Date: 26-5 AY

The notes on pages 13 to 28 form part of these financial statements.

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Page 10

THE PADLEY GROUP

(A company limited by guarantee) Registered number: 2769300

Charity balance sheet As at 31 July 2023

31 July 31 March
2023 2022
Note £ £
Fixed assets
Investments 11 - 2
- 2
Current assets
Debtors 12 - 42,190
Investments 13 - 133,748
Cash at bank and in hand - 410,383
- 586,321
Creditors: amounts falling due within one
year 14 - (149,217)
Net currentassets - 437,104
Total assets less current liabilities “ 437,106
Total net assets - 437,106
Charityfunds
Restricted funds 15 - -
Unrestricted funds 15 - 437,106
Totalfunds “ 437,106

The Charity's net movement in funds for the period was £(437,106) (2022 - £(11,550)).

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

JeS (Chair of Trustees) Date: 263-2

Page 11

THE PADLEY GROUP

(A company limited by guarantee)

Consolidated statement of cash flows For the period ended 31 July 2023

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Cash|flows|from|operating|activities| |Net|cash|used|in|operating|activities|(547,313)|(81,128)| |Cash|flows|from|investing|activities| |Proceeds|from|the|sale|of tangible|assets|-|250,000| |Interest|received|1,850|-| |Net cash|provided|by|investing|activities|1,850|250,000| |Change|in|cash|and|cash|equivalents|in|the|period|(545,463)|168,872| |Cash|and|cash|equivalents|at the|beginning|of the|period|545,463|376,591| |Cash|and|cash|equivalents|at the|end|of the|period|-|545,463| |The|notes|on|pages|13|to|28|form|part|of these|financial|statements|

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THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Padley Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated ona line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

1.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Page 13

  1. Accounting policies (continued)

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

1.4 Government grants

Government grants are recognised when the grant is receivable and conditions have been met.

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment.

Investments in subsidiaries are valued at cost less provision for impairment.

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

1.7 Operating leases

Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight line basis over the lease term.

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the period.

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Page 14

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

1. Accounting policies (continued)

1.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Income from donations and legacies

Restricted Unrestricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Government grants
Derby City Council - - - 124,544
- - - 124,544
Donations - 268,527 268,527 189,768
Legacies - 57,248 57,248 20,081
- 325,775 325,775 334,393
Total2022 76,745 257,648 334,393

3. Income from charitable activities

Restricted Unrestricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Hostel income - 106,126 106,126 61,282
Grant income - 143,517 143,517 24,200
- 249,643 249,643 85,482
Total2022 21,000 64,482 85,482

Page 15

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

4. Income from other trading activities

Income from fundraising events

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2023|2023|2022| |£|£|£| |Fundraising|29,433|29,433|19,757| |Other trading|income|(20)|(20)|92| |Shop|trading|income|79,218|79,218|50,210| |Sale|of food|and|products|228|228|6,845| |108,859|108,859|76,904|

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5. Investment income

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||||||| |---|---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2023|2023|2022| |£|£|£| |Interest on|cash|deposits|1,850|1,850|41|

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  1. Other incoming resources

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2023|2023|2022| |£|£|rai| |Employment|allowance|-|-|4,000| |Profit|on|sale|of fixed|assets|-|-|89,903| |-|-|93,903|

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THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

GG Analysis of expenditure by activities

Activities
undertaken
directly		 Support
costs		 Total
funds		 Total
funds
2023 2023 2023 2022
£ £ £ £
Hostel and centres 301,501 341,268 642,769 589,380
Grants 496,520 - 496,520 487
798,021 341,268 1,139,289 589,867

Analysis of direct costs

Total Total
funds funds
2023 2022
£ ba
Staffcosts 285,741 229,972
Depreciation 333 1,623
Grants 496,520 487
Kitchen and collection costs 11,926 336
Service usercosts 3,501 370
798,021 232,788

TOBae 17

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

7. Analysis of expenditure by activities (continued)

Analysis of support costs

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||||||| |---|---|---|---|---|---| |Total|Total| |funds|funds| |2023|2022| |£|£| |Staff costs|154,063|135,713| |Maintenance|7,594|7,806| |Finance|costs|885|-| |Relocation|costs|-|124,544| |Legal|and|professional|fees|43,651|3,859| |Training|and|personnel|4,824|3,531| |Administration|14,248|10,263| |Auditors|remuneration|9,997|4,240| |Cleaning|and|premises|expenses|22,383|15,288| |Utilities|16,230|6,280| |Fundraising|and|publicity|4,362|2,867| |Rent,|rates|and|insurance|63,031|42,688| |341,268|357,079|

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|||||||| |---|---|---|---|---|---|---| |8.|Staff|costs| |Group|Group|Charity|Charity| |2023|2022|2023|2022| |£|£|£|£| |Wages|and|salaries|410,076|333,406|410,076|333,406| |Social|security|costs|18,808|23,067|18,808|23,067| |Contribution|to|defined|contribution|pension| |schemes|10,920|9,212|10,920|9,212| |439,804|365,685|439,804|365,685|

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The average number of persons employed by the Charity during the period was as follows:

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|||||| |---|---|---|---|---| |Group|Group| |2023|2022| |No.|No.| |Average|number|of employees|19|21|

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EEa Page 18

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

8. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel are considered to be the Business Manager and Finance Co-ordinator who received total remuneration of £67,724 (2022: £48,552).

  1. Trustees’ remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the period ended 31 July 2023, no expenses were reimbursed or paid directly to Trustees (2022 - ENil).

10. Tangible fixed assets

Group

Motor Fixtures and
vehicles fittings Total
£ £ £
Cost
At 1 April 2022 6,495 - 6,495
Additions - 2,632 2,632
Disposals (6,495) (2,632) (9,127)
At 31 July2023 = . 2
At 1 April 2022 6,495 - 6,495
Charge forthe period - 333 333
On disposals (6,495) (333) (6,828)
At 31 July2023 - = _
Net book value
At 31 July2023 = = .
At31March2022 . = 3

Page 19

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

10. Tangible fixed assets (continued)

Charity

Fixtures and
fittings
£
Cost
Additions 1,392
Disposals (1,392)
At 31 July2023 .
Charge forthe period 23
On disposals (23)
At 31 July2023 5
Net book value
At 31 July2023 -
At 31 March 2022 -
11. Fixedassetinvestments
Investments
in
subsidiary
companies
£
At 1 April 2022 2
Disposals (2)
At31July2023 a

On 14 July 2023, under the terms of the Transfer Agreement, YMCA Derbyshire acquired 100% of the share capital of Padley Trading Ltd.

aee,

Page 20

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

12. Debtors

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||||||||| |---|---|---|---|---|---|---|---| |Group|Group|Charity|Charity| |31|July|31|March|31|July|31|March| |2023|2022|2023|2022| |£|£|£|£| |Due|within|one|year| |Trade|debtors|-|3,562|-|3,542| |Other debtors|-|5,596|-|3,667| |Prepayments|and|accrued|income|-|45,372|-|34,981| |-|54,530|-|42,190|

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13. Current asset investments

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||||||||| |---|---|---|---|---|---|---|---| |Group|Group|Charity|Charity| |31|July|31|March|31|July|31|March| |2023|2022|2023|2022| |£|ff|£|£| |Short term|deposits|-|133,748|-|133,748|

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Page 21

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

14. Creditors: Amounts falling due within one year

Group Group Charity Charity
31 July 31 March 31 July 31 March
2023 2022 2023 2022
£ £ £ £
Trade creditors - 82,446 - 79,567
Amounts owed to group undertakings - - - 15,931
Other creditors - 9,344 - 7,411
Accruals and deferred income - 49,328 - 46,308
- 141,118 - 149,217
Group Group Charity Charity
31 July 31 March 31 July 31 March
2023 2022 2023 2022
£ £ £ £
Deferred income at 1 April 2022 4,325 10,095 4,325 10,095
Resources deferred during the period - 4,325 - 4,325
Amounts released from previous periods (4,325) (10,095) (4,325) (10,095)
- 4,325 - 4,325

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Page 22

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

15. Statement of funds

Statement of funds - current period

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Balance|at|1|Transfers|Balance|at| |April|2022|Income|Expenditure|infout|31|July|2023| |£|£|£|£|£| |Unrestricted|funds| |Designated|funds| |Transition|Fund|-|-|»|=|a| |Property|Fund|300,000|-|-|(300,000)|-| |300,000|-|-|(300,000)|-| |General|funds| |General|Funds|158,875|686,127|(1,145,002)|300,000|-| |Total|Unrestricted|funds|458,875|686,127|(1,145,002)|-|-| |Restricted|funds| |Day|centre|refurbishments|-|-|=|7|=| |EMDA-|Recycling|centre| |capital|grant|-|-|-|-|-| |Lloyds|Bank|Foundation|-|-|=|=|5| |Jeff Wellor Community|Grant|-|-|-|-|-| |WoRTH|-|-|-|-|"| |DCC ARG|-|-|-|:|.| |Total|of funds|458,875|686,127|(1,145,002)|-|-|

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Page 23

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

15. Statement of funds (continued)

Statement of funds - prior period

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|Transfers|31|March| |1|April 2021|Income|Expenditure|in/out|2022| |E|£|£|£|£| |Unrestricted|funds| |Designated|funds| |Transition|Fund|150,000|-|(95,968)|(54,032)|-| |Property|Fund|-|-|-|300,000|300,000| |150,000|-|(95,968)|245,968|300,000| |General|funds| |General|Funds|218,146|492,978|(431,007)|(121,242)|158,875| |Total|Unrestricted|funds|368,146|492,978|(526,975)|124,726|458,875| |Restricted|funds| |Day centre|refurbishments|65,977|-|-|(65,977)|-| |EMDA-|Recycling|centre| |capital|grant|52,976|-|-|(52,976)|-| |Lloyds|Bank|Foundation|11,932|21,000|(32,932)|-|-| |Jeff Wellor|Community|Grant|773|-|-|(773)|-| |WoRTH|5,000|-|-|(5,000)|-| |DCC ARG|-|76,745|(76,745)|-|-| |136,658|97,745|(109,677)|(124,726)|-| |Total|of funds|504,804|590,723|(636,652)|-|458,875|

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———

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Page 24

THE PADLEY GROUP (A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

16. Description of funds

Restricted Funds

Day Centre refurbishment represents funds received of £50,000 from Derby City Council and £174,000 from the National Lottery to acquire the lease of the Day Centre. The fund was written off over the useful life of the asset in accordance with its depreciation policy.

East Midlands Development Agency fund relates to £24,638 received in 2002 to purchase the freehold building now forming the Recycling Centre, and £62,462 received in 2003 towards the cost of refurbishing that building.

Lloyds foundation funding is to support staff costs in the delivery of Housing support to reduce homelessness and prevent repeat homelessness. This funding is part of the Enhance programme providing additional support from consultants to undertake: Governance Review; achieve Registered Provider status; Business Manager's skill development and many more dependent on need. WoRTH funding provided by MHCLG from Tampon Tax funding to support the “Ending of risk to Women through Homelessness”, Padley is the lead partner of a tripartite arrangement with Mid Mercia CAB and Women's Work. We have appointed a Women’s Champion who is being supported and mentored by Women's Work and supported with advise surgeries by MMCAB. The aims of the project are to upskill our own staff in delivering Trauma Informed gender specific services and provide a gender informed space for the delivery of our services. We are to map provision for Women at Risk in derby and share those pathways with all relevant sectors. We will also train 40 staff across organisations in the City to also deliver trauma informed gender specific services.

The DCC Grant related to the relocation of the Day Centre at Becket Street to Liversage Street due to the Becketwell site development.

Transfers

The transfers made during the prior year were in relation to balances for the Day Centre Refurbishments and East Midlands Development Agency. These funds were held in for the property which has now been sold, with the only expenditure against the fund balances being depreciation. As a result of the disposal during the year, no further funds will be allocated to this development.

Designated Funds

The transition fund was created to cover the costs of the enforced re-location of the Padley Centre and Warehouse from Beckett Street, Derby in order to enable the major City centre Becketwell Development to take place, and specifically the proposed Arena. This reserve supported the costs of transition management, the change over a period of time from hostel type accommodation to self-contained dispersed housing units.

The property fund has been designated for the contribution towards developments of the new Padley Centre at an alternative site. This is made up of the £50,000 remaining from the transition fund designated in 2021 and another £250,000 designated from the general reserves in the prior year.

Page 25

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

17. Summary of funds

Summary of funds - current period

Balance at 1 Balance at 1 Transfers Balance at
April 2022 Income Expenditure in/out 31 July 2023
£ £ £ £ £
Designated funds 300,000 - - (300,000) -
General funds 158,875 686,127 (1,145,002) 300,000 -
458,875 686,127 (1,145,002) - -
Summary offunds- priorperiod
Balance at
Balance at Transfers 31 March
1 April2021 Income Expenditure in/out 2022
52 E = £ fs
Designated funds 150,000 - (95,968) 245,968 300,000
General funds 218,146 492,978 (431,007) (121,242) 158,875
Restrictedfunds 136,658 97,745 (109,677) (124,726) -
504,804 590,723 (636,652) - 458,875

18. Analysis of net assets between funds

Analysis of net assets between funds - current period

Total

----- Start of picture text -----
Total
funds
31 July
2023
£
=
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ee

Page 26

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

18. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Unrestricted Total
funds funds
31 March 31 March
2022 2022
£ £
Current assets 599,993 599,993
Creditors due within one year (141,118) (141,118)
Total 458,875 458,875
  1. Reconciliation of net movement in funds to net cash flow from operating activities
Group Group
31 July 31 March
2023 2022
£ iE
Netexpenditure forthe period (as perStatement of Financial Activities) (458,875) (45,929)
Adjustments for:
Depreciation charges - 1,623
Dividends, interests and rentsfrom investments (1,850) -
Loss/(profit) on the sale offixed assets - (89,904)
Movement in debtors 42,190 (36,655)
Movement in creditors (128,778) 89,737
Netcash used in operating activities (547,313) (81,128)
20. Analysis ofcash and cash equivalents
Group Group
31 July 31 March
2023 2022
£ £
Cash in hand - 411,715
Current asset investments - 133,748
Totalcashandcashequivalents - 545,463

Page 27

THE PADLEY GROUP

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 July 2023

21. Analysis of changes in net debt

At 1 April
2022 Cash flows
£ £
Cash at bank and in hand 411,715 (411,715)
Liquid investments 133,748 (133,748)
545,463 (545,463)
  1. Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £10,920 (2022 - £9,212). Contributions totaling £1,010 (2022 - £1,761) were payable to the fund at the balance sheet date and are included in creditors.

23. Operating lease commitments

At 31 July 2023 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Group Group
31 July 31 March
2023 2022
£ £
Not laterthan 1 year 23,022 23,022
Laterthan 1 yearand not laterthan 5 years 44,478 67,500
67,500 90,522

24. Related party transactions

On 14 July 2023 The Padley Group entered into a Transfer Agreement with YMCA Derbyshire under which YMCA Derbyshire assumed responsibility for the liabilities of the group in consideration for the transfer of all assets with full title guarantee.

————aESS

Page 28