2024-03-31-accounts

POSITIVE STEPS SUPPORT I CHALLENGE I CHANGE Registered Number: 02563094 Charity Number: 288125 POSITIVE STEPS TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Doc ID.. 7303527365936b19287553d027e8da04907ad329

POSITIVE STEPS TABLE OF CONTENTS Page Charity Information Structure, Governance and Management Objectives and Activities Achievements and Performance Financial Review io Plans for the Future li Principal Risks and Uncertainties 13 Statement to the Auditors 14 Independent Auditors Report 15 Statement of Financial Activities 19 Balance Sheet 20 Cashflow Statement 21 Notes to Financial Statements 22 Doc ID.. 7303527365936b19287553d027e8da04907ad329

CHARITY INFORMATION The trustees/directors of Positive Steps Oldham (referred to as Positive Steps [PSI (the trading name), forthe remainder of this report) present their fourteenth Annual Report together with the financial statements. Included in this report is the directors report for the purposes of company law. The directors or member5 of the board of the charttable company (the charity) are its trustees for the purpose of charity law. This report collectively refers to them as the 'trustees'. Charity number: 1017247 Company number: 2563094 Chief Executive: Paul Axon Registered Office: Medtia Place, 80 Union Street, Oldham, Lancashire, OLI IDJ Auditors: Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester, Greater Manchester, M60 OAS Bankers: Barclays Bank plc. 51 Mosley Street, Lancashire. M2 2HQ Solicitors: After Athena, Greenbank Court, Challenge Way. Greenbank Business Park, Blackburn, BBI 5QB Key Management Personnel: Paul Axon Chief Executive Donna Marshall Director of Education & Guidance Services TBC Director of Family, Community and Justice Services Robert Edden Director of Corporate Services & Company Secretary, Company Secretary Doc ID.. 7303527365936b19287553d027e8da04907ad329

Trustees Representing Comment Mrs Joanne Marie Forsdike Independent (Chair as of I" April 20231 Ms Hannah Jane Roberts Independent Mr Vinesh Mistry Independent Ms Mezreet Rasul Independent M rs Nicola Jane Robinson Independent Cllr Diane Tracey Williamson Oldham Council th Resigned 4 May 2023 Appointed 20 August 2024 Cllr Graham Shuttleworth Oldham Council th Resigned 4 May 2023 Cllr Rosalynne Katya Birch Oldham Council th Resigned 4 May 2023 Hayley Harewood Independent th Appointed 17 November 2023 Holly Louise Harrison Oldham Council th Appointed 12 October 2023 Dr Shaid Mushtaq Oldham Council th Resigned 20 August 2024 Umar Nasheen Oldham Council Mohon Ali Oldham Council th Appointed 4 July 2023 Resigned 13, September 2023 Patrice Ann Byrne Oldham Council th Appointed 4 July 2023 nd Resigned 22 May 2024 Cllr Mohammed Islam Oldham Council th Appointed 20 August 2024 Doc ID.. 7303527365936b19287553d027e8da04907ad329

STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document Positive Steps Oldham is a company limited by guarantee governed by its Memorandum and Articles of Association. It was redrafted and adopted by a special resolution on 27th September 2016, having previously been amended between August 2005 and November 2006. It is registered as a charity with the Charity Commission. Members are drawn from Oldham's public sector, private business sector, education and training sector. and voluntary sertor communities, each agreeing to contribute £1 in the event of the charity winding up. Appointment of trustees The Memorandum and Articles of Association state that the Board of Trustees should consist of a minimum of eight members.. four elected members of Oldham Council, the remaining from statutory partners le.g., education, health. crime and disorder). and/or"communit¢' representatives from private business, training, the voluntary sector, and/or independent individuals with an interest in furthering the objects of the Charity. Trustee5 indurtion and training A formal induction process for trustees is in place and informal seminars. held as part of Board meetings covering key activities, delivered by service managers supplement this. Guidance Notes are issued to all trustees. informing them of their rights and responsibilities. Organisation The board delegates the company's day-to-day operations to the Chief Executive. who is assisted by Directors and several senior managers responsible for operational delivery. It should be noted that these post-holders are not Board members. Related parties Close working relationships exist between the Charity and local authorities and a range of other local public, private, and third-sector organisations, which have proved invaluable to the charity in establishing improved links within the community and identifying relevant policy developments and prospective funding. Subsidiaries During the 2023- 24 financial year, Positive Steps had a subsidiary company: PSO Trading Limited was incorporated on 2nd June 2005 and commenced trading on 31 October 2005. As of 1st April 2023, PSO Trading Limited ceased trading and became dormant. The trustees deemed that the activity level and the work's nature did not warrant a separate subsidiary. Remuneration of key management personnel Our pay policy aims to offer fair pay to attract and keep appropriately qualtfied staff to lead, manage. support and deliver the charitvs aims. Trustees are ultimately responsible for setting remuneration levels for the key management personnel. Pay for other staff is determined by a Job Evaluation Scheme with a cost-of-living award agreed by the Trustees annually. Positive Steps is an accredited Real Living Wage body. and this will override the Job Evaluation grades. where applicable. Doc ID.. 7303527365936b19287553d027e8da04907ad329

OBJEcfivES AND AcfiviTIES As an independent sector organisation. Positive Steps is unique in England, providing a range of integrated and targeted support services foryoung people. The trustees are mindful of the Charity Commission's Guidance on public benefit. Its charitable objects are: To advance the education and training of young people to prepare them for working and adult life. The relief of unemployment forthe public benefit in ways that may be thought fit, including asslstance to find employment. The provision of recreational facilities for young people in the interests of social welfare. The promotion of public safety. The prevention of crime and the rehabilrtation of young offenders. Advancing in life and helping young people by developing their skills. capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. The relief of sickness and the preservation of health among people residing permanently or temporarily in locations where the company is commissioned to deliver services. The provision of support and activities that develop their skills, capacities, and capabilities enable them to participate in society as independent, mature. and responsible individuals. To assist in the treatment and care of persons suffering mental or physical illnes5 arising from substance abuse or in need of rehabilitation as a result of such illness. During the year. the most significant contract continues to be with Oldham MBC. who contract with us to deliver a range of integrated and targeted services for young people, adults and families, mainly in the Borough of Oldham. We have continued to deliver Career Guidance services in both Rochdale and Tameside. Our work has been supported by a range of other local, regional and national fundin& resulting in the following delivery model- Edutation and Guidance Oldham, Rochdale and Tameside local authorities commission information, advice and guidance IIAGI with young people who are at risk of becoming Not in Education. Employment orTraining INEETI and those in target groups, such as those in the care of the local authority, those involved with the criminal justice system. those with special educational needs or disabilities and teenage parents. Allied to that, we have contracts with over 50 schools and colleges to provide IAG for non- targeted students. 'Empower Oldham, and 'Engaging Rochdale. are new projects fijnded by the UK Shared Prosperity Find IUKSPFI to connect with young people currently NEE[. The tailored provision will include mentoring, well-being support, and practical solutions to build confidence, resilience, and motivation. Support will be creative and focus on removing barriers and learning new skills, helping young people on their journey towards learning and employment. Our Positive Futures programme collaborates with schools, identifying young people becoming detached from mainstream education. It provides a blended offer to reintegrate them fully into school life. We can also support those year 11 students who are work-ready for long-term work placements to enhance their future opportunities further. Doc ID.. 7303527365936b19287553d027e8da04907ad329

Familyi Community and Justice Services Early Intervention and Prevention {ElP} The largest element of this Directorate is EIP, an Oldham-wide strategy to support individuals and families of all ages in staying in control of their lives by effectively managing issues that may be affecting them and preventing escalation to crisis services. The Posttive Steps service consists of staff and many more volunteers who support families in their homes and within District Hubs. Assessment and support can be offered for issues such as emotional wellbeing, financial difficulties. housing. relationship difficulties and behaviour management. The service works closely in partnership with Oldham Council alongside other voluntary sector partners to deliver a holistic offer. Youth Justice and Prevention This work focuses on clients with the most complex needs. including young people who are missing from home and at risk of child sexual exploitation and young people at risk of or involved in offending behaviour. The services are delivered in partnership with other statutory and voluntary sector organisations in Oldham. Positive Steps is actively involved in both strategic work and in the operational delivery of services for these clients. The services are provided in a holistic way with support offered to whole families in order to assess and support around systemic issues that may be influencing problematic behaviours. Poswtive Steps is unique as a third sector organisation delivering the statutory Youth Justice Service in Oldham. Family and community programmes The directorate delivers several other services: Young Carers Service for Oldham-supporting young people who have a caring responsibility at home, this service identrfies and engages vulnerable young people and their families to help them develop social confidence and increase their opportunities to engage fully with peers and their community. Missing From Home- Ensures that young people, who go missing are independently interviewed within 72 hours of notification. Young people are listened to carefully and safety plans developed to help eliminate the risks of going missing alongside strategies to steer them on a brighter path. Doc ID.. 7303527365936b19287553d027e8da04907ad329

Corporate Services The Directorate has a key role within the business, providing corporate support and developing trading opportunities. Organisational Support This service includes appropriately skilled and experienced staff who provide advice, support, and guidance on business intelligence, ICT, information governance, finance, human resources, and quality. Service Delivery Support This service provides day-to-day support for operational service delivery. This includes Administrative Support. Communications & Marketin& Facilities. and "Front of house" In addition, a volunteer support service is delivered. Volunteers are integral to Positive Steps as a whole, and we have successfully developed roles forvolunteers and recruited and trained volunteers to work in all areas of the business. We strwe to offer high-quality and meaningful volunteering opportunities, an excellent training package, and various opportunities, including paid work. We support schools through traded services, org3nising work experience placements, sector visits, mock inteNiews and employer encounters. We operate an in-house bicycle project. Positive Cycles. Based on donated bicycles, the project involves young people and adults developing bicycle maintenance and renovation skills. The renovated bicycles are then gifted to clients or sold at our low-cost retail outlet. Doc ID.. 7303527365936b19287553d027e8da04907ad329

ACHIEVEMENTS AND PERFORMANCE Work within the charity this year has seen Positive Steps achieve accreditation for ISO 27001 and ISO 9001, recognising that we maintain an Information Security Management System IISMS} and have quality assurance built into all our processes. Our people are essential to all we achieve. and we have been recognised by Investors In People. Positive Steps has a long history of hitting and exceeding targets- the past year has been no exception. From April 2023 to March 2024, we delivered a comprehenstve, integrated range of services that helped young people, adults, and families reach their full potential. Our approach has been understanding and breaking down individuals, barriers to reaching their goals. Youth Justlce Servlce The rate of re-offending= IA lag on reportingas time needs to lapse) Tojun 22 20.00% 31.30% 35.600 33.20% 30.10% Tojun 21 25.9Vo 33.496 26.496 33.8% 31.6Vo Oldham Greater Manchester The North West England Comparators Custody rate IPer 1,0001 for age 10- 17 0.03 0.15 23124 22123 Early Intervention and prevention Families referred to the seNice Individuals referred to the service Under 18's referred to the service Adult only referrals 930 3440 1253 867 3007 1825 203 Careers Guidance and Support Participation rates achieved Oldham Rochdale Tameside 96.30 96.1% 95.5% 95.60 95.6% 95.1% Young Carers Registered with the service Progressed into learning after Year li 711 665 86.2% 78.7% Mlsslng From Home Reported cases Interviewed with 72 hours 1607 86.25010 82.13% Volunteering hours of supportto the people accessingourservice areas 4326 4491 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Youth Justice Service The rate of re-offending: Tojun 22 To Jun 21 IA lag on reporting as time Oldham 20.00% 25.9% needs to lapse) Greater Manchester 31.30% 33.4% The North West 35.60% 26.4% England 33.20% 33.8% Comparators 30.10% 31.6% Custody rate (Per 1,0001 for age 10- 17 0.03 0.15 23124 22123 Early Intervention and prevention (restated) Families referred to the service 930 1452 Individuals referred to the servi 3440 5467 Under 18's referred to the service 1253 3438 Adult only referrals 184 127 Careers Guidance and Support Participation rates achieved Oldham 96.3% 95.6% Rochdale 96.1% 95.6% Tarneside 95.5% 95.1% Young Carers Registered with the service 711 665 Progressed into learning after Year 11 86.2% 78.7% Missing From Home Doc ID.. 7303527365936b19287553d027e8da04907ad329

Reported cases 1444 1607 Interviewed with 72 hours 82.13% 86.25% Volunteering hours of support to the people accessing our service areas 4326 4491 Youth Justlce Servlce The rate of re-offending: IA lag on reportingas time needs to lapse) Tojun 22 20.00% 31.30% 35.60% 33.200 30.10% Tojun 21 25.9% 33.4Vo 26.496 33.886 31.6% Oldham Greater Manchester The North West England Comparators Custody rate IPer 1.0001 for age 10- 17 0.03 0.15 23124 22123 Early Intervention and prevention Families referred to the service Individuals referred to the Se￿iCe Under 18's referred to the service Adult only referrals 930 3440 1253 867 3007 1825 203 Careers Guldance and Support Participation rates achieved Oldham Rochdale Tameside 96.3% 96.1% 95.5% 95.6Vo 95.6% 95.1% Young Carers Registered with the service Progressed into learning after Year li 711 665 86.2% 78.7% Missing From Home Reported cases InteNiewed with 72 hours 1607 86.25% 82.13% Volunteering hours of supportto the people accessingoursetvice areas 4326 4491 io Doc ID.. 7303527365936b19287553d027e8da04907ad329

FINANCIAL REVIEW The Positive Steps Oldham Charity accounts for 2023- 24 show overall income increasing from £6,212,000 in 2022-23 to £6,345,000, a 2.1% increase this year. The accounts show an operating surplus of £64,590. However, the FRS102 Pension Scheme adjustment of £44,000. results in a reported surplus of £108.590 for the year. The figures presented in the GM Pension Fund's actuarial report are prepared only for FRS102 and have no validity in other circumstances. "In particular, they are not relevant for calculations undertaken for funding purposes". The methodology of the Accounting Standard, in conjunction with the Fund's investment strategy, means that the surplus or deficit identified in the report can vary signrficantly over short periods of time." It is essential to realise that the actual cost of the pension fund {i.e. how much money it will Ultimate￿ have to pay out to its members in the form of benefits) is unknown. This cost will not be known wwth certainty until the last benefit is paid to the last pensioner. This valuation aims to estimate the cost so that the Fund can develop a funding stratebry to meet it. The pension asset and liability have featured in financial reports and statements since 2005 and, following reassessment by the Greater Manchester Pension Scheme's independent actuary, improved from a surplus of £420,000 at 31 March 2023 to a surplus of £12.096.00 at 31 March 2024. The FRS102 {FRS 171 calculations have continued to oscillate year on year, with the following surpluses and deficits noted since the FRS102 IFRS 171 requirements were introduced in 2004-2005. This surplus is not recognised in accordance with FRS102 (paragraph 28.221. It states that a surplus should be recognised as a defined plan asset only to the extent that it can be recovered. A valuation of the future service contributions that Positive Steps will have to make exceeds the current asset, reducing the reported surplus to nil. FRS102 {FRS17) calculation 15,000.000 10,000.000 5,000.000 -5,000,000 -10,000.000 2005 2024 -15.000.000 Further disclosures relating to the pension fund are given in note 27 to the accounts. On reviewing the Balance Sheet, the net assets, excluding pension liability, have increased from £2,589,840 to £2,698,432 li Doc ID.. 7303527365936b19287553d027e8da04907ad329

Investment Powers and Policy Under the Memorandum and Articles of Association. the Company has the power to invest in any way the trustees wish. The trustees. considering the liquidity requirements of operating the company's business and the ReseNes Policy, have, where possible. kept available cash funds in an interest-bearing deposit account and seek to achieve a rate of interest that matches or exceeds inflation measured by the retail price index. Reserves Policy In March 2023, the trustees approved the following ReseNes Policy: Reserves should be regarded as realisable "cash assets" namely, funds in the bank and the difference between money owed to creditors and money owed by debtors. Fixed assets would not be included. Three elements were identified: Buildin and Ca ital Asset Reserve- A ready source of funds for repairing or acquiring buildings, leaseholds, furniture, fixtures, and equipment necessary to effectively operate the organisation and programs. ortunit Reserve- A source of internal funds for organisational capacity building such as staff development, research and development, or investment in infrastructure to build long-term capacity. eratin Reserve- an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated Ioss in fundin& or uninsured10sses. The Operating ReseNe is not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. The set-aside values forthese reserves as of 31 March 2024 were: Building and Capital Asset Reserve Opportunity Reserve Operating Reserve £250.000 £ioo,000 £900 000 £1.250.000 PLANS FOR FUTURE PERIOD Strategic Plan The new strategic plan for 2025 - 2028, is currently being developed in consultation with all stakeholders. ContractinglFunding artivity Poswtive Steps continues to work with Oldham, Rochdale and Tameside local authorities, with contract periods of various lengths and extensions. There are no guarantees that PS will 12 Doc ID.. 7303527365936b19287553d027e8da04907ad329

automatically be awarded new contracts as they crystallise- however, we continue developing the service5 and enhancing each authority'5 proposition. Young People's Support and Guidance Services: Local Authority Tameside Rochdale Oldham Contrart end date Expertation Not renewed Tendering for renewal Tendering for renewal th 9 December 2024 31" March 2025 31" March 2025 The Connect to Your Future project, funded by European Social Funding, continued until September 2023. It has then received continued funding through the UK Shared Prosperity Fund and is received at a minimum until March 2025. We will be looking to expand our range of commissioned services into existing and new areas during 2024/25. The initial development is alternative provision education through two projects: creating a second site in Rochdale, opening in January 2025, and partnering with Kingsland High School for a two-year project. Furthermore, we will continue to bid for specific funding opportunities from the Home Office, Children in Need, Community Safety and otherfunders. Our trading arm, Positive Steps Tradin& has ceased and remained dormant since 1st April 2023. Further Ways of Working We have continued our hybrid working model. All staff are enabled to work remotely and have been equipped with laptops. mobile phones. and peripherals. Working practices are being reviewed to meet the demands of hybrid working and improve efficiency. In 2024125, the continuing reduction of paper-based processes and development of more Ict-based processes are planned, including developing and launching a new "digital front doorf, and cloud-based telephone system integrated with our Microsoft offer. Our "state of the art" Oldham HQoffices have attracted a range of partners to co-locate with us and we continually develop the integrated offer. Environmental Responsibility Poswtive Steps takes its environmental responsibiltty seriously. It offers schemes for recycling waste, unwanted furniture, and redundant ICT equipment. as well as actions to reduce energy usage and ethical procurement. Our staff are offered schemes to improve their carbon footprint, including Cycle to Work and access to electrical car charging at Medtia Place. In April 2020 we adopted our Environmental Policy that contains 12 objertives that focus our commitment to environmental sustainability. This policy is currently being reviewed to ensure that the objectives remain both relevant and a challenge. 13 Doc ID.. 7303527365936b19287553d027e8da04907ad329

PRINCIPAL RISKS AND UNCERTAINTIES The Trustees and Senior Managers remained mindful of the significant risks, both internal and external, facing the organisation and where appropriate, systems or procedures have been established to mitigate those risks. External risks to funding have led to developing a strategy to continue diversifying activities and seek to diversify business Wlthin the subregion. Internally, implementing procedures for authorising all financial transactions minimised internal control risks. The ISO 9001 and ISO 271XII further enhanced the securtty of our data and the quality of all our internal procedures. External legal advice supports contract negotiation with funding bodies. Detailed procedures and protocols supported grievance and disciplinary processes again underpinned by specialist external legal advice. In particular, robust HR systems and processes have minimised employee relations risk and helped to create a more flexible and generic employee base, which has minimised economic dismissals by enabling movement into other posts created due to new projett demands. The Strategic Group implemented a whole organisation job evaluation review in June 2023 to ensure fairness and a competitive offer. The Company continued to operate a 'safe recruitment, policy in line with Local Safeguarding Children Board standards. All posts undertaking regulated activity for the organisation were subject to an Enhanced DBS disclosure at the point of recruitment and reviewed every three years. Other procedures ensured compliance with health and safety regulations for staff, volunteers, clients, and visitors, and full insurance coverage was maintained for public and employer liability. The company recognises Unison as its trade union. Any proposed changes to terms and conditions of employment, including job evaluation or other workplace issues, were subject to full consultation. All finance, human resources, IT, and professional practice procedures were constantly reviewed in light of changes in legal requirements and improvements in professional standards. 14 Doc ID.. 7303527365936b19287553d027e8da04907ad329

TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity's trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year. which give a true and fair view of the charity's and group's incoming resources and applications of resources during the year and of its state of affairs at the end of the year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; obseNe the methods and principles in the Charities SORP, make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. and prepare financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enables them to ensure that the financial statements comply with the Companies Art 2006. The trustees are also responsible for safeguarding the assets of the charity and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE TO OUR AUDITORS The trustees of the company who held office at the date of approval of this annual report confirm that: so far as they are aware. there is no relevant audit information, information needed by the charitable company's auditor in connection with preparing their report, of which the charitable company's auditor is unaware. and they have taken all the steps they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of the information. The trustees confirm that the financial statements comply with current statutory requirements, the company's memorandum and articles of association requirements and the Charities SORP requirements IFRS 1021. 15 Doc ID.. 7303527365936b19287553d027e8da04907ad329

AUDITORS The auditors. Third Sector Accountancy Ltd, will be proposed for re-appointment in accordance with Section 487121 of the Companies Act 2006. This report, which incorporates the Directors report was approved by the board on 26th November 2024 and signed on its behalf by . Joanne Forsdike Trustee/Director 16 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Independent auditorfs report to the members of Positive Steps Oldham Opinion We have audited the financial statements of Positive Steps Oldham (the 'parent charitable compan¢) and its subsidiary I'the group'l for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities. the Balance Sheets. the Consolidated Statement of Cash Flows and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicablelaw and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard opplicoble in the UKond Republic of Ireland {U nited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fairview of the state of the group's and parent charitable company's affairs as at 31 March 2024 and of the group's 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. 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 {UK} {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements Section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a ba51S for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors 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 trustees, report. other than the financial statements and our auditorfs report thereon. The trustees are responsible forthe 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 express any form of assurance conclusion thereon. 17 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Independent auditorfs report to the members of Positive Steps Oldham Other information (Continued) In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent wfch the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report. which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements: and the directors, report included within the trustees, report has been prepared in accordance wf(h applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements 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 and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not vistted by us. or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specrfied by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance wfch the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 18, the trustees (who are also directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial 5t3tements 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 parent charitable company's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the Eoing concern basis of accounting unless the trustees either intend to liquidate the group or the charitable company or to cease operations, or have no realistic alternative but to do so. 18 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Independent auditorfs report to the members of Positive Steps Oldham Auditorfs 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 auditorfs report that includes our opinion. Reasonable assurance is a high level of 35surance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detett a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, 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. Capability of the audit in detecting irregularities. includingfraud Based on our understanding of the group and environment in which it operate5, we identified the principal risks of non-compliance with laws and regulations related to pension legislation. tax legislation. employment legislation. health and safety legislation, and other legislation specific to the industry in which the group operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements underthe Charities SORP and FR5102, and the Charities Act 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to- Posting manual journal entries to manipulate financial performance, including the treatment of deferred income being inconsistent with FRS102 SORP income recognition; and Management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions. Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulation5 lirregularitiesl and fraud that are material to the financial statements. Our audit procedures included but were not limited to: Compliance with laws and regulations: Discussions wwth management including consideration of known or suspected instances of non-compliance with relevant laws and regulations. Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit. Review minutes of meetings for issues relating to non-compliance- Reviewing both the design and implementation of key policies, including safeguarding. Review of correspondence with the regulators and with legal advisors; Material Fraud in the financial statements: Making enquiries of management and those charged with governance on whether they had any knowledge of any actual, suspected or alleged fraud; Gaining an understanding of the internal controls established to mitigate risks related to fraud; Discussing amongst the engagement team the risks of fraud. 19 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Independent auditorfs report to the members of Positive Steps Oldham Capability of the audit in detecting irregularities, including fraud (Continued) Addressing the risks of fraud through management override of controls by performing journal entry testing; and Challenging assumptions and judgments made by management, including reviewing management's recognition of income in line with FRS102 SORP, use of depreciation policies and the defined benefit pension liability and associated disclosures- There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations, or through collusion. 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 auditorfs report. Use of the audit report This report is made solely to the charitable companrfs members. as a body. in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable compan¢s members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and, the charitable company's members as a body. for our audit work. for this report, or forthe opinions we have formed. Patrick Morrello ACA (Senior Statutory Auditor} For and on behalf of Third Sector Accountancy Limited. Statutory Auditor Holyoake House Hanover Street Manchester M60 OAS P Vmorrdlo Date 0611212024 20 Doc ID.. 7303527365936b19287553d027e8da04907ad329

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Positive Steps Oldham Company number 2563094 Balance Sheets as at 31 March 2024 The Group The Charity Note 2024 2023 2024 2023 Fixed assets Tangible assets Investments 15 598,025 757,227 598,025 757,337 17 Total fixed assets 598,025 757,227 598,026 757,228 Current assets Debtors Cash at bank and in hand 20 1,295,815 1,790,014 1,108,183 1,526, 772 1,295,815 1,790,013 1,108,183 1,526, 771 Total current assets 3.085,829 2,634.955 3,085,828 2,634,954 Liabilities Creditors.. amounts falling due in less than one year 21 1985.4241 1802,343J 1985,4241 (802,343) Net current assets 2.1(J),405 1.832,612 2,100,404 1,832,611 Total assets less current liabilities 2,698,430 2,589,839 2,698,430 2,589,839 Net assets excluding pension 2,698,430 2,589,839 2,698,430 2,589,839 Defined benefit pension scheme asset/ I liability) 27 Net assets/ {liabilitiesl 2,698,430 2,589,839 2,698,430 2,589,839 Funds of the charity: Restricted income funds Unrestricted income funds.. General Pension reserve Designated fund 22 1.983 12,673 1,983 12,573 23 2,526,447 2,577,166 2,526,447 2,577,166 23 23 170,000 170,000 Total charity funds/ Ideficit) 2.698.430 2.589.839 2.698.430 2.589.839 These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members ofthe company. The notes on pages 24 to 50 form part of these accounts. Approved by the trustees on and signed on their behalf by.. J/AAnaA /tsL Joanne Forsdike (Trusteel Hannah Roberts (Trustee} Robert Edden Isecretaryl 22 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Consolidated Statement of Cash Flows for the year ending 31 March 2024 Note 2024 2023 Cash provided by/{used in) operating activities 26 143,386 134,494 Cash flowsfrom investing octivities.. Dividends, interest, and rents from investments Purchase of tangible fixed assets 155,451 135,5951 120.292 (174,856) Cash provided by/{used in) investing activities 119,856 (54,564) Increase/ldecreasel i n cash and cash equivalents in the year 263,242 79, 930 Cash and cash equivalents at the beginning of the year 1,526,772 1,446,842 Total cash equivalents at the end of the year 1.790,014 1.526, 772 23 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 Accounting policies The principal accounting policies adopted, judgments and key sources of estimation uncertsinty in the preparation of the financial statements are as follows= a Basis of preparation The financial statements have been prepared in accordance with 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 IFRS 1021 issued in October 2019 - (Charities SORP IFRS 1021. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Positive Steps Oldham meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. b Group financial statements These financial statements consolidate the results of the charitable company and its wholly-owned subsidiary PSO Trading Limited on a line by line basis. A separate Statement of Financial Activities and I ncome and Expenditure account are not presented for the charity itself followi ng exemptions afforded by section 408 of the Companies Act 2006. P50 Trading Limited is dormant as of 01 April 2023 c Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. d Key judgments and estimates Defined benefit pension scheme The present value of Positive Steps Oldham, defined benefit pension scheme liabilities is calculated every three years by an appointed actuary. For the purpose of reporting the actuarial present value of promised retirement benefits, this liability value is updated annually in intervening years by the Actuary. The methodology used is in line with accepted guidelines and in accordance with FRSIO2. Assumptions underpinning the valuations are agreed with the Actuary. See note 27 for summary of assumptions used and sensitivity analysis performed. It is difficult to assess the accuracy of the rolled-forward obligations shown in the accounts without conducting a f ull valuation using updated individual membership data. Such a valuation is generally not practical in the time available to meet the Employer's reporting requirements. The estimated rolled- forward obligations as at the accounting date will therefore not reflect differences in demographic experience from that assumed le.g. member longevity), the impact of differences between aggregate change5 in salaries or changes for specific individuals le.g. individual members transfers in/out of an Employer). I n addition, whilst the obligations calculated under FRS102 include an allowance for some premature retirements on grounds of ill-health. there is no allowance for early retirements on Erounds of redundancy or efficiency. The net present value of f uture service costs are less than the net present value of f uture contributions per the Asset Ceiling calculation. As such, the trustees have deemed it not appropriate to recognise any form of asset in respect of the defined benefit pension plan and an adjustment has been posted. See Note 27 for further details. 24 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 {continued) Accounting policies (continued) Defined benefit pension scheme (continued) There are risks and u ncertainties associated with whatever assumptions are adopted. FRS102 requires the assumptions to be determined on a best estimate basis. However the assumptions are in effect projections of future investment returns and demographic experience many years into the f uture and there 15 inevitably a great deal of uncertainty in what constitutes best estimate for such projections. It should also be noted that the aCtUa￿S estimation will likely be less accurate in the second and third years following the last triennial valuation, as greater estimation uncertainty is involved. See note 27 for full disclosure of the pension scheme estimates. including uncertainties. There are no other key judgments or estimates relevant to the financial statements. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. I ncome received in advance of a provision of a specified service is deferred until the criteria for income recogn ition are met. f Donated services and facilities Donated professional services and donated facilities are recognised as income 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 by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, general volunteer is not recogn ised,. refer to the trustees, annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recogn ised in expenditure in the period of receipt. g Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 25 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 {continued) Accounting policies (continued) h Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specif ic purpose. Restricted fu nds are donations which the donor has specified are to be solely used for particular areas of the charity'5 work or for Specific projects being undertaken by the charity- Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise the costs of commercial trading in the subsidiary company and associated support costs. Expenditure on charitable activitie5 include5 the costs undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. j Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activitie5. Support Costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between C05t of raising fund5 and expenditure on charitable activities. The bases on which support cost5 have been 311oc3ted are set out in note 9. k Operating leases Operating leases are leases in which the title to the assets. and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease. l Tangible fixed assets I ndividual fixed assets are capitalised at cost and are depreciated over their estimated usef ul economic lives on a straight line basis as follows= Leasehold improvements Office fixtures and equipment Mechanical systems The remaining term of the lease 3 to 10 years 8 to 15 years 26 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 {continued) Accounting policies (continued) m Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. n Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. o Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. p Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost Using the effective interest method. q Pensions Defined contribution scheme Employees of the charity are entitled to join a defined contribution 'money purchase, scheme. The charity's contribution is restricted to the contributions disclosed in note 11. There were no outstanding contri butions at the year end. The costs of the defined contribution scheme are included within support and governance costs and allocated to the funds of the charity using the methodology set out in note 9. Defined benefit scheme Qualifying employees of Positive Steps participate in the Greater Manchester Pension Fund I'the Fund'l administered by Tameside Metropolitan Borough Council, under the regulation5 governi ng the Local Government Pension Scheme ILGPSI The scheme is a defined benefit scheme. Full disclosure of the accounting policies used 15 given in note 27. Legal status of the charity The charity is a company limited by guarantee registered in England and Wales and ha5 no Share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disc105ed on page l. 27 Doc ID.. 7303527365936b19287553d027e8da04907ad329

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Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 10 Net income/(expenditurel for the year 2024 2023 This is stated after chargingjlcreditingl: Depreciation Loss on disposal of f ixed assets Defined benef it pension costs.. Current year service costs Past service cost Net interest Movement in holiday pay accrual Operating lease rentals- Land and buildings Auditor'5 remuneration - audit fees Auditor's remuneration - accountancy fees 190,663 4.133 174,654 18,785 336,000 74,000 852,000 196,000 (35,950) 120,000 10,500 5,069 17,807 120,000 10,920 3,015 11 Staff costs Staff cost5 during the year were as follows= 2024 2023 Wages and salaries Social security costs Pension costs Movement in holiday pay accrual 3,913,475 365,046 425,205 17,807 3,589,589 338, 736 455, 751 (35,950) 4,721.533 4,348,126 The average number of employees arbd secondee5 during the year was as follows.. Charitable activities Raising funds 144 123 144 130 The number of employees whose emoluments Igross salary plus employer pension contribution) amounted to over £60,000 in the year were as follows.. £60,001- £70,000 £70.001- £80.000 £80,001- £90,000 £90,001- £100,000 £ioo,ooi- £iio,000 The key management personnel of the charity comprise the trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £329,25412023.. £351,526). 32 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 12 Trustee remuneration and expenses. and related party transactions Neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year12023.. Nill. In line with the definition of a related party per FR5102, any entity that is a post-employment benefit plan for the benefit of employees of the reporting entity is a related party and hence is to be disclosed. Under this basis, Greater Manchester Pension Fund are a related party. For more details of associated transactions please see note 27. Nine trustees (four of whom resigned on the 4th May 20231 are also Oldham Metropolitan Borough Councillors. During the year, the charity wa5 paid £3,533,89512023-. £2,811,1501 by the council for services. The charity also paid £22,26912023.. £18,815) for charges made by the council. The charity is the sole member of its subsidiary company PSO Trading Limited. The charity is a director of PSO Trading Limited, as are two members of the charity's senior management team. During the year the charity had the following transactions with the subsidiary.. 2024 2023 Payroll costs re-charged to the subsidiary Other cost5 recharged to the subsidiary Write off of costs owed by the subsidiary 174,146 47,770 (56,503) Apart from the above, no trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year12023'. nill. 13 Government grants The government grants recognised in the accounts were as follows= 2024 2023 Children in Need Early I ntervention Services Turnaround Young Carers- HAF Household Support Grant Roots of Opportunities 43,479 45,000 150,758 11,834 21.455 37,021 45, 000 58, 733 9,157 189,218 272,526 339,129 There were no unf ulfilled conditions and contingencies attaching to the grants. 33 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 14 Corporation tax The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. The charity's tradi ng subsidiary PSO Trading Limited gift aids available profits to the parent charity. Its charge to corporation tax in the year was.. 2024 2023 UK corporation tax 15 Fixed assets.. tangible assets The group Leasehold improvement Office equipment & furniture Total Cost At l April 2023 Additions Disposals 804.797 26,000 637,356 9,595 181,3341 1,442,153 35,595 181,3341 At 31 March 2024 830,797 565,617 1,396,414 Depreciation At l April 2023 Charge for the year Disposals 305.907 90,645 379,019 100,018 177,2001 684,926 190,663 177,2001 At 31 March 2024 396.552 401,837 798,389 Net book value At 31 March 2024 434.245 163,780 598,025 At 31 March 2023 498.890 258.337 757,227 34 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 16 Fixed assets.. tangible assets {continued) The charity Leasehold improvement Office equipment & furniture Total Cost At l April 2023 Additions Disposals 804,797 26,000 637,356 9,595 181,3341 1,442,153 35,595 181,3341 At 31 March 2024 830.797 565,617 1,396,414 Depreciation At l April 2023 Charge for the year Disposals 305.907 90,645 379,019 100,018 177,2001 684,926 190,663 177,2001 At 31 March 2024 396.552 401,837 798,389 Net book value At 31 March 2024 434.245 163,780 598,025 At 31 March 2023 498,890 258,337 757,227 17 Investments The group The charity 2024 2023 2024 2023 Investment in group undertakings The charity owns one share in PSO Trading Limited which represents 100% of the issued share capital of that company. 18 Subsidiary undertaking The Charitable company owns the whole of the issued ordinary share capital of PSO Trading Limited, a company registered in England. The subsidiary was used for norb-primary purpose trading activities but 15 dormant as of 0110412023 Available profits are gift aided to the charitable company. A summary of the results of the su bsidiary is shown below= 35 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 18 Subsidiary undertaking {continued) Prof it and Ios5 account 2024 2023 Turnover Admi nistration costs Other operating income 257,718 (297,604) 82, 603 Net Ilossl/profit £42, 717 Balance sheet 2024 2023 Current assets £1 £1 Called up share capital £1 £1 The activities of the trading subsidiary PSO Trading Limited were transferred to the parent charity as at 31/03/2023 and the trading subsidiary has been dormant since 0110412023 19 Parent charity The parent charity's gross income and the results for the year are disclosed as follow- 2024 2023 Gross income 6,345,451 6,148,919 Net surplus/ldeficitl Actuarial I lossesllgains on defined benefit pension scheme Net movement in funds 64,590 44,000 108,590 (260, 173) 6,990,000 6, 729,827 36 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 20 Debtors The group The charity 2024 2023 2024 2023 Trade debtors Prepayments Accrued income Other debtors 1,124,273 73,121 31,255 67,166 884,699 26,604 196,880 1,124,273 73,121 31,255 67,166 884, 699 26,694 196,880 1.295.815 1,108,183 1,295,815 1,108,183 21 Creditors: amounts falling due within one year The group The charity 2024 2023 2024 2023 Trade creditors Accruals Deferred income Taxation and social security costs 230.588 98.054 370.242 286,540 173, 701 82,019 236,146 310,477 230,588 98,054 370,242 286,540 173, 701 82,019 236,146 310,477 985.424 802,343 985,424 802,343 Deferred income is service contract income where amounts have been received or billed in advance of the performance of the services. Included within accruals is a balance of £71k12023.' £54kl in respect of a holiday pay accrual. 37 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 22 Analysis of movements in restritted funds Current reporting period Balance at I April 2023 Balance at 31 March 2024 Income Expenditure Tran5fer5 Children in Need 21-24 11,071 43.479 152,5671 1,983 Turnaround 1,602 150.758 1152,3601 Early I ntervention Services Grant 45,000 145,0001 EIP Household support grant 21,455 121,4551 Welfare Hub 64.137 164,1371 Young Carers- HAF 11.834 111,8341 Community Safetv Funding 40.000 140.0001 Total 12,673 376,663 1387,3531 1,983 38 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 22 Analysis of movements in restritted funds Previous reporting period Bolance ot I April 2022 Balance at I April 2023 Income Expenditure Tr(7nsfers Ghildren in Need 21-24 3,312 37,021 (29,262) 11,071 Community Renewol Fund.. Root5 of Opportunity 60,802 189.218 (250,020) Turnaround Early Intervention Service5 Grant EIP Household support gr(3nt 58, 733 (57,131) 1, 602 45,000 (45,OOOJ 24,665 (24,665) Totol 64,114 354,637 (406,078) 12,673 Name of restricted fund Description, nature and purposes of the fund Children in Need 21-24 Health and wellbeing project for young carers Turnaround Programme {voluntary youth early intervention programmel Turnaround Early I ntervention Service5 Grant EIP Household support grant Early Intervention and Prevention grant programme Oldham Cost-of-Living Household Support Fund 2022 Welfare Hub Greater Manchester personal wellbeing pilot service Community Safety Fund Oldham community Youth Justice mental health support Young Carers- HAF Oldham programme of holiday activities and food programme 39 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 23 Analysis of movement in group unrestritted funds Current period Balance at I April 2023 Asat31 March 2024 Income Expenditure Transfers General fund Pension reserve 2,577,167 5.968.788 15,849,5081 1170,0001 2,526,447 Total general funds 2,577,167 5,968,788 {5,849,508) 1170,000) 2,526,447 Project Shortfall 170,000 170,000 Total designated f unds 170,000 170,000 Total unrestricted f unds 2,577,167 5,9&8,788 {5,849,5081 2,696,447 Prior period Bolonce ot I April 2022 Asat31 Morch 2023 Irpcome Expenditure Transfers Generolfund Pension reserve 2,113,857 16,930,000) 5.857,335 (6,030,025) 636,000 6,930,000 2,577,167 Total unrestricted f unds (4,816,143) 5,857.335 (6,030,025) 7,566,000 2,577,167 Name of General fund Pension reserve Project ShortFall Description, nature and purposes of the fvnd The free reserves after allowing for all designated funds Reserves allocated to the defined benefit pension f und asset/liability Designated fund to cover expected shortfall on specific projects 40 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 24 Analysis of group net assets between funds Current reporting period General fund Designated funds Restricted fund5 Total Tangible f ixed assets Net current assets/lliabilitiesl 598,025 1,928.423 598,025 2,100,405 170,000 1,983 Total 2.526.448 170.000 1.983 2.698,430 Previous reporting period Generol fund Designoted funds Restricted funds Total Tangiblefixed assets Net current ossets/(liobilitiesJ 757.227 1,819,939 757,227 1,832,612 12,673 Totol 2,577,166 12,673 2,589,839 41 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 25 Operating lease commitments The group's total f uture minimum lease payments under non-cancellable operating lea5e5 is a5 follow5 for each of the following periods= The group The charity 2024 2023 2024 2023 Land and buildings.. Less than one year One to f ive years Over five years 120.000 480,000 67,068 120,000 480,000 187,068 120,000 480,000 67,068 120,000 480, 000 187,068 667,068 787,068 667,068 787, 068 The f igures for future minimum lease payments are stated net of the refurbishment contribution agreed with the landlord. I n the accounts, the refurbishment contribution is incl uded income. The annual rent before ref urbishment contribution is £264,700. The lease expires on 22 October 2029. 26 Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net income/{expenditurel for the year Adjustments for: Depreciation charge and disposals Dividends, interest and rents from investments Decrease/lincreasel in debtors I ncreaselldecreasel in creditors Pension scheme adjustments 64,590 (224,132) 194,796 1155,4511 1187,6321 183,080 44,000 193,439 (120,292) (352, 683) 2,162 636,000 Net cash provided by/lused inl operating activities 143,386 134,494 42 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme Defined benefit scheme Qualifying employees of Posltive Steps participate in the Greater Manchester Pension Fund I'the Fund'l administered by Tameside Metropolitan Borough Council. under the regulations governing the Local Government Pension Scheme ILGPSI. The scheme is a defined benefit scheme. The fund was valued using the projected unit method. The purpose of the valuation was to determine the f inanci31 position of the fund and to recommend the corbtribution rate to be paid by TfGM and the other participating employers. The market value of the Fund's assets at 31 March 2022 amounted to £29.324 million. The funding level of the Fund as measured using the actuarial method of valuation was 104Yo as at 31 March 2022. Basis for estimating assets and liabilities Liabilities have been assessed on an actuarial basis using the projected unit credit method, an estimate of the pensions that will be payable in future years dependent on assumptions about mortality rates, salary levels, rates of inflation and discount rates. The Local Government Pension Scheme liability has been estimated by Hymans Robertson LLP, an independent firm of actuarie5. Positive Step5 Oldham'5 share of pension fund assets is rolled forward, by the actuary, f rom the latest formal valuation date131 March 20221. The roll forward amount is then adjusted for investment returns, the effective contributions paid into and estimated benefits paid from the f und by Positive Steps and its employees. As such this estimate may differ significantly f rom the actual assets held by the Pension Fund at 31 March 2024. The significant assumptions used by the actuary have been as below. Key assumptions 2024 Yopa 2023 %pa Discount rate Expected rate of increase of pensions in payment Expected rate of $313ry increases 4.85 2.75 3.55 4.75 2.95 3.75 Mortality assumptions 2024 2023 years years Assumed life expectotions on retirement at aged 65." Retiring today.. Males Females 20.4 23.3 20.5 23.5 Retiring in 20 years Males Females 21.4 24.8 21.5 25 43 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Commutotion An allowance is included for future retirements to elect to take 55Yo of the maximum additional tax-free cash up to HMRC limits for pre-April 2008 service and 50% of the maximum tax-free cash for post-April 2008 service. Sensitivity analyss The estimation of the defined benefit obligations is sensitive to the actuarial assumptions set out in the table above. The sensitivity analyses below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period and assumes for each chanEe that the assumption analysed changes while all the other assumptions remain constant. The assumptions in longevity, for example, assume that life expectancy increases or decreases for men and women. In practice, this is unlikely to occur, and changes in some of the assumptions may be interrelated. The estimations in the sen51tivity analysis have followed the accounting policies for the scheme, i.e. on an actuarial basis using the projected unit credit method. The method5 and types of assumptions used in preparing the sensltivity analysis below did not change from those used in the previous period. 202312024 % increase to Approximate Defined monetary Benefit amount Obligation i£'oooi 202212023 /0 increase to Defined Benef it Obligation Approximate monetary amount i£'oooi Changes in assumptions O. IY. decrease in Real Discount Rate 584 2% 600 l year increase in member life expectancy 1.119 4% 1,117 21 0% 56 O. 1% increase in Salary Increase Rate O. Iyo Increase in the Pension Increase Rate ICPII 574 2% 553 The principal demographic assumption is the longevity assumption li.e. member life expectancy). For sensitivity purposes, we estimate that a one year increase in life expectancy would approximately increase the Employer's Defined Benefit Obligation by around 3-5%12023= 3_50/.l. In practice the actual cost of a one year increase in life expectancy will depend on the structure of the revised assumption li.e. if improvements to survival rates predominantly apply at younger or older ages). 44 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Impoct on the occounts 2024 2023 The amounts charged or Icreditedl in the Statement of Financial Activities are as follows- Current Service cost Net interest on defined benefit liability Past service cost 336,000 852,000 198,000 74,000 410,000 1,050,000 Other recognised Igainsl or losses.. Actuarial return on scheme assets Effect of the asset ceiling Less.. calculated interest element 11,016,000) 110,014,000) 923,000 111,030,000) 923,000 11, 110,0001 118,049,000) Actuarial changes relating to obligations Restriction on recognition of scheme asset 12,096,000 9,560,000 Total cost/lincomel (13.140,OOOJ (17,136,OOOJ The amounts i ncluded in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows: Present V31ue of funded retirement benefit obligation< 127,963,000) 127,914,000) Fair value of plan assets 40,059,000 37,474,000 Surplus/ Ideficitl in scheme 12,096,000 9,560,000 Restriction on recognition of scheme asset (12,096,000) (9,550,000) Net assev Ili3bilityl recognised on the balance sheet 45 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Impoct on the occounts (continued) The present value of the defined benefit obligation as at 31st March 2024 is less than the fair value of plan assets at that date. As such the plan is in a surplu5 P051tion of £12,096,000 as at 31st March 2024. Per FRS102 section 28.22 an entity shall recognise a plan surplus as a defined benefit plan asset only to the extent that it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan. An entity should recognise a net pension asset in such cases because the entity controls a resource, and that control 15 a result of past events. This 15 in the form of contributions paid by the entity and service rendered by the employee. Future economic benefits are available to the entity in the form of a reduction in f uture contribution5 or a cash refund, either directly to the entity or indirectly to another plan in deficit. The asset ceiling is the present value of those future benefits. Accounting standards dictate that when an entity has a surplus in a defined benefit plan, it should measure the net defined benefit of the asset at the lower of: i. the surplus in the defined benefit plan, and ii. the asset ceiling The entity has instructed Hymans Robertson LLP. an independent firm of actuaries to calculate an asset ceiling calculation based on the net present value of future service costs less net present value of f uture contributions over the future working lifetime as at 31 March 2024. The below assumptions were used by the actuary as part of the calculation: i. Present value calculated over the expected life of the employer li.e. in line with now established LGPS audit and practitioner views, an indefinite period for an LGPS employer open to new entrants). Calculated to be 76.9 years ii. discount rate of 4.85Yo p.a. and salary increase of 3.55Yo p.a. from the Employer's 31 March 2024 accounting report, giving an annuity of 8.16 iii. the present value of the liability expected to arise from next years, service by scheme members less the present value of future employee contribution5 15 equal to the projected current Service cost as calculated by the actuary in the valuation of the scheme. iii. the employer contributions for the 2024/2025 financial year to be paid by the entity will be £332k. The results of the instructed calculations are= Annuity lin perpetuity) x 2024125 future service costs: 76.9 ' £298k 22,916.000 Annuity lin perpetuity) x future service element employer contribution.. 76 9 £332k 125,53 1,0001 Net present value of any economic benefits available in the form of refunds or reductions in f uture contributions tothe plan. {2,615,0001 46 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Import on the occounts (continued) Per the above calculation, the net present value of f uture service costs are less than the net present value of future contributions and as such it does not appear that a recoverable asset exists either through a reduction in the entity's future contributions or through being able to obtain refunds from the plan. Therefore the entity have not deemed it appropriate to recognise any form of asset in respect Df the defined benefit pension plan and a £2.6m adjustment has been posted through other recognised gains/losses within the statement of financial activities. The increase in pension liabilities is included in the 50FA as follows.. Other recognised gains/ Ilossesl Current service cost Net interest on defined benefit liability Past service cost 44,000 1336,0001 11,321,0001 174,0001 7,566,000 (852,OOOJ (196, 000) Ilncreasel/decrease in liability 11,687,0001 6,518,000 Movements in the present value of defined benefit obligations Liabilities brought forward Current service cost Past service cost Benefits paid Contributions from scheme members 27,914,000 336,000 74,000 1678,0001 106.000 44,283,000 852,000 (519, 000) 124,000 Remeasurements.. Changes in financial assumptions Changes in demographic assumptions Other experience 11,836,0001 (17,547,000) 1180,0001 80,000 906,000 (582,000) I nterest cost on defined benefit obligations 1,321,000 1,223,000 Liabilities carried forward 27,963,000 27,914,000 47 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Impact on the accounts (continued) The defined benefit obligations arising from the plan are funded as follows.. Wholly unfunded obligations Wholly f unded obligations 27,963,000 27,914,000 27,963,000 27,914,000 Movement in thefair volue of plan ossets Opening fair value of the scheme assets I nterest income on plan assets Contributions by employer Contributions by members Benefits paid Other experience Return on assets excluding amounts included in net interest 37,474,000 1,775,000 366,000 106,000 1678,0001 37,353,000 1,027,000 412,000 124,000 (519,OOOJ 1552,0001 1,016,000 (371,000) 40,059,000 37,474,000 The major categories of plan assets as a percentage of total plan assets are as follow5.. Equities Bonds Property Cash 69 15 68 15 The analysis of the scheme assets at the reporting date was as follows.. Equities Bonds Property Cash 27,640,710 6,008,850 3,204,720 3,204,720 25,026,510 5,602,950 2,988,240 3,735,300 40,059,000 37,353,000 48 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) Review of the 2024 results Assets In the year ending 31 March 2024. investment returns have typically been higher than assumed Icompared to last year's accounting discount rate assumption). As such, this has resulted in an increase in the fair value of the scheme assets. Obligations The remeasurements in the obligations roll forward are split into three separate parts to differentiate between 'changes in f inancial assumptions,. 'changes in demographic assumptions, and 'other experience,. Changes in f inancial assumptions As at 315t March 2024, the net discount rate Idi5count rate net of CPI inflation has increased compared to 3 1st March 2023. Changes in demographic assumptions Using a more up-to-date longevity improvement assumption at the Accounting Date, typically leads to a small gain of less than lQ/o of the obligations. The Ioss (increase in obligations) resulting from applying the actual Pensions Increase Order for April 2024 of 6.7/0 to the benefits. Furthermore, the unfunded obligation5 are valued annually using updated individual membership data which can lead to Itypically small) experience items if there have been greater or fewer deaths than expected over the period. Changes in other experience 49 Doc ID.. 7303527365936b19287553d027e8da04907ad329

Positive Steps Oldham Notes to the accounts for the year ended 31 March 2024 (continued) 27 Retirement benefit scheme (continued) The objectives of the scheme are to keep employers, contributions at as constant a rate as possible. TfGM has agreed a strategy with the scheme's actuary to achieve a funding level of IOO/.. Funding levels are monitored on an annual basis. As at 31 March 2022 it was determined that Positive Steps were to continue to pay 22.4% contributions per annum for the foreseeable future. Positive Step5 antici pates paying £366.000 in expected employer'5 contributions to the scheme in 2024/25. Key differences between funding and accounting valuations The purpose of the formal f unding valuation, which is carried out every three years, is to assess the ongoing f inancial position of the fund and to determine the cash contribution rate5 at which the employing bodies Participating in the fund should contribute in the future. The aim of the funding valuation is to ensure that the existing assets alongside future expected investment returns and contributions will be sufficient to meet future benefit payments from the fund. In terms of the above cash contributions that need to be paid into the f und, an employer's accounti ng valuation position has no effect. Under FR5102, the purpose is to facilitate consistent comparison of pension position5 between employer5. Importantly, as the method and assumptions underlying the funding and accounting calculation5 are different, the accounting calculations can produce significantly diffeient results f rom the formal funding valuation calculations. 50 Doc ID.. 7303527365936b19287553d027e8da04907ad329