SaFerPlaces Oomestb: Abuse Suppopt 5e¢vices SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Charlty numbgr 1016832 Company number 02789572 Regulator of So¢ial Housing number 4761 •ACEHDAOF" 19110r2w23 ¢PhlEs HI)USE A21
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SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CONTENTS Page Legal and administration infomialK)n Trustees annual report 2.11 Independent Auditors. report 12-14 Consolidated Slalemenl of Comprehensive Irorne 15 Consolidaled Slatemenl of Changes in Reserves 15 Consolidated Stslemnt of Financial PosrtN)n 16 Corryany Statement of Financial Posrtion 17 Consolidated Slalemenl ofcashfl 18 Notes lo the Accounts 19-38
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATION INFORMATION Charity number 1018832 Company numbw 02789572 Governlng document The charitsble company is govemed by its memrandum ar articles of associ.0ft. Known as Safer Places Registered office PO Box 2489 16-20 Bush House Bush Fair Harfow Essex CM186NS Audlto Knox Crtspper LLP 65 Leadenhall Street London EC3A 2AD Bankers Lloyds Ban Billericay Commercial Centre Lloyds Comrneroal 89 High Street Billericay Essex CM12 9AT Trustees Douglas Wldey Chloe Ahme(I Gift Kapswara Lorraine Lamwn Laila Abraham Sian Chambers Claire Arnold Kathy Osbome Sean Carrdl {reswJneil 25 October 2022) (resigned 25 October 2022) (appointed 25 Qctob8r 20221 Secretary Allison Gar(Iner
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 stCtUre Governance and Mana nt The Board of Twstees present their report and financial statements of Safer PLaces and ils wholly owned subsidiaries. Safer Places Professional Training an¢J Development C.l.C and Safer PropertEs Limited. Saler Places is a Registered Charity and a Company Limiled ty Guarantee. The Charrtable Company is also registered wlh the Regulator of Social Housing (Reg No 47611. Our gtsveming documents are our Memorandum and Arts"des ofAssociation. Our Trustees are elecle¢J from our membership al our Annual General meets"ng. Our TfU5tee5 serve foT a period of three years and then sland down or seek nomination and re-eleth"on. In line with good governance guidance Trustees do not normally serve for more than three terms. However, rt was agreed Ihal Douglas Wildey continue as a Trustee since he brings a level of specialist expertise to the board which is highly valued and would be difficult lo replace. Our membership is open lo anyone who Supports the objedives set out in our Memorandum ol Association ind such other wrsons as the Trustees shall admit to membgrship of the company. An application for merrbership may be approved or rejected by the Trustees. The Truslee5 have the right for good and sufficient 8$On lo terminate the membership olany membei provided that tt)e member concerned shall have the righl to be heard before a final d1$10 is made. We welcome nominations fr(¥n organi5alion5 who are nwber5 of Safer Plac£$. Safer Places has no prohibition on clients becoming Members or Trustees providirvj they are able to meet the eligibility quirementS and fulfd the responsibilities of these roles. 11 15 the Oicy of Safer Places lo ensure that all Trustees are eligible and have sufficient and appropriate skills lo serve. All members wishing lo become Trustees undergo a compelency-ba5ed selection process and are required lo complete a Declaration of Eligibility and a Declaration of Interests annually. Once appointed Trustees partiapale in an induCtn process th"ch, includes induction to the company as well as to the role of Trustee. Ongoing training relevanl lo the role of Trustee is provided. Statement of trustee$. res nsibilities The Iw$lees Iwho are also directors of Safer Places for Ihe purposes of company law} are responsible for preparing the Trustees, Annual Report and the financial slalemenls accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢ounty'ng Practice}. Company law requires the trustees lo prepare financial statements for each financial year, which give a true and fair view of the sl*e of affairs of the Group and charitable company and of the incoming resources and appli110 of resources. induding the income and expenditure. of the Group for that period. In preparing these finanryal slalemenls, the Iruslees are required lo". select suitable accountsng policies and then apply them consistenlty.. observe the rnethods and prsnciples in Ihe Housing SORP.. Make judgements and estimates that are reasonable and priKlenl'. stsle whether applicable UK Accountsng Standards have been followed, subject to any material departure5 disdosed and explained In the financ1 sralemenls", wepare the finanaal statements on the going concem basis unless it is inappropriate lo presume that the charitable company wll continue in operabon. The Iruslees are responsible for keeping adequate accounting records that disclose reasonable accuracy at any lime the financial posrtion of the Group and charitable company and enable them lo ensu Ihal the financial statements mplY %wlh the Companie$ Act 20C6. They are also responsible for safeguarding the assets of the Group and charitable company and henee for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SAFER PLACES IA COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHERWITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 In SD lar as the Iruslees are a4¥are'. there 15 no relevant audii information ofwhKh the Group and charitable company'5 auditor is Ltnaware; and the Iruslees have taken all steps th* Ihey ought lo have laken to make themselve5 aware of any relevant audit infofmalion and to establish that Ihe authlor is aware of that information. Our Truslees a also responsible for the folltrwirvJ". Selting the strategic direth'on of Safer Places. ensurtng that it is solvent, well run and rneeting the needs for which il was estsblished. Ensuring Safer Places complie5 Wth company and Charity requirements. Ensuring that Safer Places does not breath the rul8$ set out in ils 9oveming documents and rema$ true lo ils ¢harilable puipose. Making sure Safer Places comleS with all reqUireThnIS of other legiatr"On. which govem the activities of the company. Preventing the misuse of company fijnds or assets. Ensuring that Company funds and assets are used reasonabty and onty in the fvrtherance of the mpany's objectives. Avoiding any activity that mi9hl place the company's assets or reputation al undue risk. Taking special Care in investing the company's funds or borrowin9 fijnds on behalf of the company. Using their personal skills and experience to ensufe the company is well run and efficient. Considering getting extemal professional advice on all matters where there may be material risk to the eompany or wheTe Trustees may be in breach of their duties. 04y lo day managemenl of Safer Places is delegated to the Chief ExecutNe who reFQrts directly lo the Board of Trustees. The Board ofTruslees meets al least five tirres per year. Staff allend Board Meetings and adwse on all matters trArt do 1 vote. Statement on the re istered social housin rovider's internal control s stems The Board lakes an active interest in internal control and eorporale govemanee matters, and aims lo meet the highest $18ndards. The Board accepts the principles in the National Housing Federation Code of Govemance, which go well beyorKi intemal finarrial contrd. This statement is confined to inlemal financial control. Intemal finanaal control means the controls established in order lo prowde reasonable assurance of." the safeguarding of asse15 against unauthoTi5ed use di$p05iti"ons.' the rnaintenance of proper a)untIng recor(Is arKI th8 relialy.lity of finanpal information used with the company or for PUblatiOn Sta men The Board acknowledges its primary responsibilty for the company's system of internal financial control, lor safeguarding the assets of the rnpanY and for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Boaid places considerable importance on maintaining a strong control environment. However. such a system can only provide reasonable and never absolute assurance against material misslatemenl or loss. The Board ha5 established, and inteTrJs lo conb.nue development of, key procedures designed to provide effective internal financial cLJntrol. These are the hIglevel procedures and wocesses by which the Board reviews the effeclivene55 Ot Ihe system of internal finan31 conliol.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER wrrH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 The company's inlemal financial control and rrKinitoring procedures include.. elear responsibilities on the partof line and financial managemenl forthe mainlenènce of good financial controls and the production of accurate and timely financial management information the control of key.financial risks Ihrough clearly kid down authorisaknon tevels and prcyer 5egregalion of dutses detailed monthly budgeting and reporting of ¢0 and expenditure, with regular review by management of variances from budgets reporting on Comlance wrth finanual controls and w0ce(lU (for the year endl by exiemal auditors. These reports are reviewed by the Finanee and the Board Prior to the use of interim and annu81 rewls. Code of Govemance and Govemance and Financial Viabili Standa Safer Places has adopted the Charrty Governance C¢)de as il best feflects the objeclives and aims of the organisalion as a regislered charity. The Board undertake a 5-year external audit against the Charity Code ol Governance and review the compliance inlemally on an annual basis. We report that there are no outstandin9 actions or non-compliance against Ihe code and the outcome of the prr audit was that the auditor consereLl the charity to be well governed. The Board conffimis Safer Pkces 1$ lpIlant with the Governance arKI Financial Vbility starard. Ob e¢tive$ and Actlvrties The objectNes of Safer Places ¥e'. 'The Charity Is established to relleve dl$tsYss and suffering amongst people living with or fleeing from, orat rlsk of, Domesti¢ Abuse. In¢ludlng stalking and harassment,. to pn>vide education for thgir future beneflt,. to educate those who work with victims of domestic Violence and lo provlde soclal housin for Ihose sufferin . fleein . orat risk of domestlc violence. stalkin and harassment." Vlsion. Mission and Valuè5 Vision Safer PLices vi&on is a sc<iety Whe everyone lives a life free from fear and abuse. Mission Safer Places exists lo drive d¢)wn the incidence and impact of dornest and sexual abuse and to support those who use our services in their journey to recovery. resilience and independence. Values These are the ¥UeS we pr¢Jmise lo uphold so we never lose sight of our rThssb)n.' Cllent Led - We empower our clients to exercise choice and control of their support. We ensure dient's voices are heard and that they impact ¢JJr decision making and shape our ser¥e$ Accesslble We work inclusively wth our clients. partners and communrties. Anyone who 1$ al risk of experienang abuse can access our services vthen. how and where Ihey need them. Respectful - We adopt a trauma informed, holistic approach to support. We listen and believe, are non- jvdgemenlal and open and honest about what we can and cannot do. EffKtlve- We deliver high qualty servi¢e$ thal work for our clients_ Our pradice is informed by our clients, research. evid¢e ond learning from experts by experience.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHERTH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Revi w of 2022123 2022r2023 was a busy and excrting year. AS life retumed to almost nomial following the pandemic reslrietions. we took stock of h¢)w m(Kh we had leamed and how much our opeting environment had changed. As participanls ol ihe Thrive program run by The Cranfield Trust and funded for us by Essex Communrty Foundation. we embarked ¢)n a detailed review of our 5-year slrategy lor 2023-2028 wlh Trustees and Officers working together over a series ol events. The work resLJf(ed in the identification of five rrin strategic Ihemes from which our work programme and objectives for the next 5 years ftow. Across the year as the work progressed. we implem&nted thanges con$i5tenl with the eirerging Strategic direth.on and these included.. The opening of a refv9e f¢y wc¥nen from mirK>rity comrNnities. Thi5 is prinpallY occupied by women frorn South Asian countries. The eslablishmenl of Safer Places Professional Development and Training CIC. This had been running previously as Brighter Futures al Safer Places. The organisation is a vthglly owned subsidiary of Safer Places and had grown 5ubstsnlially over the last two years and so we needed to strengthen the 90vernance and strategic management of the organisation and to invest In future growth. To that end, and in the Iwjht of changes implemented following Ihe implementation of the Domestic Abuse Act 2021 addrtional staff were recrurted including a senior trainer dedicated to the development of training in the delivery of services to ¢hildren who are now recognised in law as victim of domestTrc abuse in their own right We reviewed the senior management Strlre and appointed an Assistanl DirectOT, Children and Young People. We established a comrnnicaiions team comprising of a 5eniof Communutions officer and hyo graduate plaMentS from Charity Works. The team has made a signffinI impact and we will relain those on placement now as permanent members of stsff. We also ¢rUited a perfomiance analyst and along wth the communications team we are now able to better understand our performance, lo hear victims. voices mofe clearly. to reach hidden viclims re Successftlly and lo demonstrate and communicate our impact better. In response lo our recognrtion of the pressures all statutory 5ervi¢es are working under resulting in a reduclion in capaaty lor multiagency safegvarding and support we employed an additional designated safeguarding lead officer enabling us to have one for each county to strengthen our cap3¢f(y lo advocale for and ensure that the needs of our client$ are met. This new approach has Shown strong benefits ot both the individual case and policy level. We introduced a new IT system for the runrung of "back office'fub.0nS which enabled us lo make savings on processing costs. We undertook an audit ofour e5tste and began a program of renovation and upgrading which has rnuch improved Ihe accommodation we offer. We also successfulty applied for the conlinualion of funding for our Essex refijges and SUc$fullY bid for funding for our community support seNices in Hertfordshire. As lead partner in the consortium providing Safe accomrnodalion services for Hertfordshire. we mobiliserj the consortium and Ihe services We have worked wilh SAH in the past and the longstanding goocl working relationship continued. unfortunately one of the eonsortium member5 had lo wilhdraw because of being unable lo meet the specjficalion bul the new working relationship wrth Druglink has been excellent and we can confirm Ihal logelherwhalwe can offer Is much greater than the sum of what wg could YhOul this collaboration which is paying dividends in lems of our leaming as well as enabling women who in the pasl could not be manage(I within our services lo receive a service jointly provided by Druglink and Safer Places.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 11 has been a busy year for HR- Ihe Domestic Abuse Aet linked additional fvnding has meant we have had lo reeruil many addrtional staff al the same lime as all olheT organisalions such as ours are doing the same. We have been successful in part because we are able lo offer training ancj trainee posts through our CIC, but it has certainly been challenging and we have benefrtted from Ouf third Charty Works gradtsale placement who has worked so hard on fecruilment but also enabled us to much improve our recrurtmenl process and HR reporting and monilwing. She loo wishes lo Main al the end of the placement. and we will be offering her a permanent ¢ontract. Our own annual staff survey and Inveslors in People Assessment this year were cause for celebration reflecting how Mmitted, engaged, empowered and well manage<l staff feel. This is very reassuring since Safer Places staff truly are its greatest asset. Our staff pull together and Strive for excellence arK¢ in so doing help transform the lives of thousands of people every year. Our Beneficiaries and Publlc 8enefrt ststement The Trustees are aw8re and mindful of the Charilies Commission guidance. Safer Places has delivered public benefrt in line t the obie¢ts and actNilies of the organisation through the delivery of our core services. Over the last year Safer Places has delivered Publ 8enefrt in line with the obj'ects of the charity in the following ways". To relieve dislress and suffering amongstpeople living wlth orfleeing from domestic abuse Including stalking and harassment We received a total 014083 referrals of whi¢h 1443 were for fijge1safe accorrKrndation We were able lo a¢commodate 543 of the 1443 single people and families referd for refuge I safe ac¢ommodalion vAthTn our propet'es in Essex and Hertfordshi 733 children and young peop5e came into our refuges wth their mother. We did receive some referrals for male vietim5 Wlth children181 bLrt at the time of referfal we did not have accommodation available that was sultae as il was all occupied since the accommodation used foi males is in dispersed single units and we will use Ihose for whoevei needs them when available. We will bè expanding desi9naled provision for rnales in the coming year. Wlhin our Community services which we deliver in Hertfordshire we 5UPPOrted 1081 adults and 1296 children Our specialist stalking support service supported 315 adults and 367 children Our speualisl IDVA who works vith victims who have no recourse to k111C fvnds which is paid for by The Pilgrims Trust supported 82 adults with TOO Children During the year we secured the contract lo continue delivering safe aecommodation SeICe$ for Hertfordshire and the conlract was extended lo provide mofe Tesources to support children as victims in their own right an to Provide therapeutic services lo both adults and children. From July 2022 we were able to recruit a range of qualified therapists to work vmh clients and their chil¢Jren within our safe a¢¢ommodation and refuges in Hertloidshire vthich meant we could enhance our offef aimed at relieving di5tres5 and suffering, supporting healing and the building of resilience. We oftered group and 1."1 therapeutic service for adults and children. This included a variety of dtherent therapeutic intervents.ons and speo'ali5ms including art and drama therapy, IheTapeutlC groups f¢y women and for families. one lo one counselling and psychotherapy including delivery by a range of therapists who speak the first languages of those in our services who do not speak English well. We continued to Tun our own in-house CBT baseé Triple R program in Essex and Hertfordshire and placement eounsellors continue¢J to deliver support lo all other clients in those areas where we did not have funding for the extensive provision delivere(I by postgraduate, gradu*e and level 4 qualified therapists in Hertfordshire. The oulc¢)mes we supported our clients to achieve dernonstrate the impact on our beneficiaries and are as sel out below. Further details of our impact during 2022r23 are set out in the impact report accompanying this report.
SAFER PLACES {A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHERWITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Hertfordshire services benefiGiaries clients 95% Essex Service5 beneficiaries dients Fell safer after using the Seice5 Reported improved health and wellbein Reported they had maintained or increased their support networks Had access or maintained em ment Engaged with the CBT based RRR ro ram Had reduced depression clinical de ression seores 83% 47% 31% 640 ro provide education for theirfuture benefft We ¢onlinued to run our psychoeducab.onal C6T based RRR Domestic Abuse group Pfogram. This 1$ 8 12- week program in four modules which eovers Risk. Recovery and Resilience and Impact on Children. We sustained a vgry high level of uptake ol the program which 15 highly valued by parti¢ipants and those who refer to ys. This year we had more siaff L1elivering the program and it was delivered face to face in groups and online. during the working week and outside normal working hours. to women and lo rren and where necessary on a 1".1 basis. Participants describe the program as life changing and descnbe their experience a5 like a light being turned on. RefeTreTs include partiopation in the program wthin Child Protection and Children in Need plans because they have witnessed the impact ol it. We have also delivered many additional educational programs and interventions including programs around substance misuse. parenling, wellbeing. healthy eating, sleep hygiene, mindfulness and most rentlY maths, skills. We also run homework clubs as part of our refuge routine antl employ learning support assistants able lo assisl chikdren of all ages wrth their homework an¢J lo help mothers lo ¢Jo so. To educale those who work with victims of Domestlc Abuse This year our Training services became a Community InteTest Coryany, Safer Places Professional Development and Training CIC. ISPPDTCICI_ The organisalion is a wholly ownetj subsidiary of Safer Place5 with all profit dèployed to enhance the directdn¢ services to b&nefiaarS of &3fw Places seNices. In 20022123 SPPOTCIC delivered the following.. Professional Training for the dornestic abuse sector IIOVA, ISVA. ISAS accredrted qualifications at level 3 and level 41 151 people from across the UK achieved Iheir professional qualtficalions Bespoke courses for people from drfferent associated professions e.g. pdice. housing. social work. Local Authorities Evenlbrite Free webinars Healthy Relalionshipsl Crueial crew training for ears 6-10 chIldn in sehools 22 courses with 596 partpanES 9 short courses wlh 65 partiipants 11 sessions with 1277 path"¢ipanls 1501 participants ro provide social houslng lor those suffering. neelng or at risk of DomesU¢ Abuse stalking and harassmenl Safe accommodation has been provided for 543 adults and 733 children and additional resettlement support has been provided lo these families and single people on relum lo the community. In addition, we have provided housing navigators lo werk wth Local Authority Housing Department5 to assist in assessing and finding suitable accommodation lo vidims who could not or chose nol to enter refuge l our safe accommodabon.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Value for Money IVFMI Each year the Charity used a range of data lo measure VFM progress against the housing sector. The results help influence tnveslmenl decisions and provide Ihe regulators and other stakeholders with inforrnalion on Ihe pro9re55 of the Charity. whilst also ensuring compliance with the regulatory VFM standard The charity has measured Itself against the Housemark Sector Scorecard 2021122 resuks (median figures, for Cost Per Unil the Supported Housing result has been used due to being more comparable to Safer Placesl . Commen ri ector core Reinveslment 68.53. 30.60% 5.70% Safer Place5 holds it5 housing stod( on operating leases. Fixed assets represent the value of improvemen15 carried out and, additions therefore represent a greater pruportion ol book valu&. New supply % Istiuall New supply % Inon-sociall 0.00% 120% Safer Pla¢es has nol developed any new properties during the year. 0.00% 0.00% 0.00% Gearing 1758.41% {1,683.11% Safer PCeS has no ts)rrowings. EBITDA MRI NIA 1.497.47% 181 90% Safef PlacAs does not have any borrowings. The interest tharge on the SOCI represents net interest on the pension deficit, which was nil for 2023. Social Housing Cost Per Unil £14,813 £13.497 £8.171 The nature of Safer Place5, properties and Ihe associated services provided means that Ihere is a 5ignifiuntly higher ¢ost base. Operating Margin (soci81 housing) Qperaling Margin loveralll 114.66)% 10.14)% The naluie of Safer Places, properties means Iheie is high sident turnover causing loss of rent through vacancies. Safer Places has seen reductions to the amount ol Housin Benefit chargeabl& for clients ue lo local aulhorrty adjustments lo service charge allowances, pulling further pressvre on margins 4.300A 6.94% 20.20% Return On Capital Empbyed 7.82% 2.80% Whilst the lease-based housing provision means Safer Places has lower levd C*1 ¢xpilal employed, the nature of ts inme streams ant1 activilies means il generates a lower return Ihan organisations providing solely Ihjjsing.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGEfHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Reserves 11 is the p¢licy of the board to provide sufficient reserves to-. Ensure CMtinuity of provision for a limited period in the event of a large variati¢)n in income in order that further income can be sourced or a re(luction tn seNce pL3nned and implemented so as lo minimise risk to our dients. Pay the annual sums associated wth reducrng the defic¢t fty wtiich we are responsible reled lo our membership of the Local Government Pension Scheme Provide a refurbishment fund so that we can sustain our continuous planned upgrade and refufbishmenl proaramme. Reserves will th•refor be hèld: 1. Working Caprtal - vnlh suffiuenl unrestricted funds to continue operating al currgnt service level for a period of three months 2. Refurbishment- lo undertake a rolling programme to sustsin Ihe quality of our ac¢ommod4lKJn and services 3. Property acquisrtion. the Trustee5 a currently reviewing refuge requirements across operational areas and are considering investment to improve provision of services in key area5. Prin I l Rlsks and Uncertainties The major rt$k$ facing Saler Places we-. In light of the continued uncertain economic condits"ons, increased costs related to utilities and the supply chain caused by incTeasgd fuel costs are a prinupal risk to Safer Places. 2. Like many charrties, in the mid to long term the OTganisalion musl also fate the challenge of ensuring adequate funds are available to meet the obligations of Its defined benefit pension scheme. We continue lo hold assets necessary lo manage the fund however the pension obligations remain volatile. The economic condrtions again prove challenging not just for the Chanty bul for the client base and we continue lo lake action 10 5UPPOrt clienis on fjnancial matters as well. 3. To sustain and enhance income related lo the Irainins subsidiary in order lo provide enhanced services to the stakeholders. The year reflects that the provi*on of training has proved a successful venture to date Safer Places Investment Pollc 11 is the pjlicy of Safer pla lo achieve the best possible retum on investment and thefore Iwo PToperlies werè purchasod in 2012. The rental return on these propertie5 18r exceeds any rate that could be achieved urrently through Ihe financial inslrtutions. Cash fvnds on reserve will be pla¢gd on fixed term deF#)sits accorth'ng to best rates at the time and the need for funds to be available.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHERMTH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Roview of Flnaneial btion Saler Places, continued strategy to diverstfy income and provide lully fijnded fronlline services has resulted in a sustained operating surplus for the group of £192k12022". surplus 253kl, and taking into account investment returns and financing cost5 achieved a grsXJP surplus for the year of £219k12022'. surplus £242kl which will be re-invested to services in Ihe Coming financial period 10 ensure we Conlinue to meet the changing needs of our lient base. Social housing income remaned relatively constant showing a $Ih1 increase from 2022 due lo adjustrnents in the types & quanlty of units provided £1,074.291 12022.. £1,006.513}. The cash position of the grtsup has decreased by t176.753. due to a significant increase in debtors at the year end. the majority of whieh were paid immeLSialely after the year end. The group and parent charity therefore maintained suffb¢ient ¢a5h balances lo fumil ils reserves poIY al the year end. Investment Properties were delemined lo be held al fair value and rental inccKne from the properties also remains relatively stable. Goln Concem The Board has reasonab expecl*ion that the charity has adequate rewurces to continue operations for the foreseeable fLrture. For this reason. the goin9 C(cern basbs has continued lo be used in preparing the financial stalemenls. The Trustees agreed to focus on dNersrfying income streams during 2020121 and in 202112022 the organisalion Setup a trading subsidiary to deliver high quality Iiaining services within the domestic abuse which continues in 202212023 to realise a significant profit. The orgarysation conts"Nes to operate wrth 6 rrnthS operating costs in reserve an¢J has a Strong Cash balanee. We thefefore consider that the future wospects for fvnding to continue lo be 8nLtragIn9 and that we are well placed lo secure additional income. Fulure During the period we extended our work on Eqvrty. Equality. Diversity and Inclusion which is fvndamenlally irnportanl to the delivery of trauma informed, qudity service delivery and we sel the following Qbjeclives that we will report on Safer Places EEDI Action Plan 2022-2023 Objective 1- Our Team We aim lo increase the diversity of our worklorce and continue to buikl an inclusive cullvre where all staff feels valued, that they belong. and have opportunitie5 lo succeed and celebrate our drfferences Ensure representstion and inclusivity 1$ a key factor in succession planning lor Senior manègemenl and management positions Base11ne and monitor diversity across 0r9anisat and individual team5 (including agency and volunteer51, using data lo inform fecrurtmenl de¥elopmenl Continue lo develop reenjrtmenl processes so they are accessible and aclwety eroUrage a diverse range ol applicants. giving value to INed and intersecting experiences Include EDI within the training plan lor all skff (including agency and volunleersl to embed and build capability and unde¥slanding of EEDI practice and enhance learning across all levels of the organisats'on Review EEDI perfomance on an annual basis and publish EEDI reFt¢rt Regularly seek employees. views on EEDI as a static rtem on the spot-cheek employee suNeys Regularly pUbl4$e ways for stsff lo engage and participate (Daisy, Feedback email inbox elc.) Develop health and well-being stralegy with staff 10-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHERWITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2023 Objective 2- Our Clients- We will make sure Our services are SponSi¥e to the indrvidual needs of all suryivors so anyone experiencing or al risk of abuse can access our ser¥e$. when, where and they need lo on an equitable basis of risk. need ané choice Routinely monitor and refleet on EEDI service data, ensuring dats anatysis provides insight into the oul¢omes survivors from different communities achieve as a result of our serVe Identify gaps in service provision throu9h data anatysis Continually look for ways to develop servvs by working in partnership wlh by and for organisations Include survivors in all service devel¢)Ffftent Obje1Ve 3- Our Partners- We will aclively seek opportunitses lo collaborate vAth by and for organisalions and challenge structural Inequalities that exclude or marginalise their presence Continue to expand partnership network. especially with under-represented by and for ¢)rganisalions Seek to support by and fof organi5alions with DA specialism. both in service delivery and trairbing opportunities supporting their need for autonomy and independence Share experience and lessons leamt and collaborate with wder sector regarding EEDI IconNnunty ol practice etc.) Objective 4- Communty Engagement- We will pro-actively engage w.rth the communities that we serve Expand partnerships with Community organisalions such as places of worship, community cenlres. youth groups elc. lo build a nefv40fk of connections Continue to grow Women's Centre wc Research and engage with our communrties in order lo identsfy th*r needs Objective 5- Our communi¢ation- We VAII be dear. a¢$51b18. aThJ irKlu$Ne in all of our communution both internally and externally Continue working on the web5rte to rnake it more accessible (Reate Raise awareness of our EDI agenda through Comm5 strategy Ensure all messaging is assessable and inclusive across all plattorms for a range of audiences Provide comms and en9agemenl support for stakeholder organisalions that further evidence our commitment to EEDI Reject the use of'BAME' or'BME' terms within OUT reportsng. instead using disaggregat9 infomalion so we can discuss issues darrty aTbd focus Auditors The Auditors, Knox Cropper LLP. have indicated that they are wlkn'ng to be re-appointed 81 the forthcon¥ng Annual General Meeting. The financial statements have been prepared in accordance wrth Ihe special provisions in Part 15 of the Companies Act 2006 relatsng to small companies. By Order of the Boa Claire Arnold Chairof Trustees Dale.. September 2023 11
SAFER PLACES IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2023 Opinion e have audited the financial statements of Safer Place5 lthe 'parenl charitsble ¢ompany'l and 11$ subsidiaries Ilhe 'gTOUP'I for the year ended 31 March 2023 which comprise the consolidated Staterrnt of comprehensive income, the consolidated statement of changes in reserves, the con501idaled and company statement of financial positions. the consolidaled statement of cash flows and notes to the financial slatemenls. including a summary of significant accounting policies. The financial reporb.ng framework that has been applied in their PParatiOn is app1i¢able law and United Kingdom Accounts"ng Standards, including Financial Reporting Standard 102 The Financial Reporting Slandard AppIable in Ihg UK and Republic of Irgland Iuniled Kin9dom Generally AccÈpted Accounting Pfacticel. In our opinion. the financial statements.. give a true and fair view of the slate of the group's and of the parent charitable company's affairs as at 31 March 2023 and its incoming resources and appli¢ation of resources for the year then ended,. have been woperly prepared in accordance tpthh United Kingdom Generalty Accepted Aceounling Practice,. and have been prepared in accordanee wKth the requirements of the Companies Aci 20C6, the Housing and Reyeneralion Act 2008 and the Aeeounting Direction for Private Registered Providers of Social Housing 2022. Ba51$ for oplnion We conducted our audit in accordance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our respon5ibililies under those standards are fvrther described in IheAuditor's iesponsibi111ies for the audit of the financial stalemenl$ section of our report. We are independent of the charitable company In accordance with the eihical requirements Ihat are relevant to our audit of the financial Siatements in the UK. including the FRC'S Ethical Stanfjard. and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe that the audrt evidence we have obtsined is suffiuenl and appropriate lo provide basis lor our opinjon. Conclusions relatlng lo going con¢•rn In auditing the financial slalements, we have concluded that the trustees. use ol ts going concern basis of accounting in Ihe prepayalion of the financial statement5 is appropriate. Based on Ihe work we have performed. we have not idenlffied any material uncertainties relating to events or Conditions that, indNidually or collectively. may $t significant doubl on the charity's ability lo continue a$ a going concern for a period ofat least efve months from when the financial stslements are authorised for issue. Our responsibilthes and the responsikn'lities of the truslees with Spect lo going COnM are described in the relevant sections of this report. Other informatk>n The other infoTmatKJn comprises the Informaln induded in the annual report, other than Ihe financial statements and our audrtorfs report thereon. The trustees are responsible for the other information. Our opinion on the finanual sLltement$ does nol cover the other inf0mtion and. exp1 lo the exienl othe1$e expliciuy slated in Jr feport, we do not express any form of ass(wance conclusion thereon. In connection with our audit of the financial statements. our resp)nsibilty is to read the other information and, in doing so, consider whether the olhgr information is malefially Incon51Stent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misststed. If we idenlify such material inconsistencies or apparent material misstatements, we are required lo determine whether there 1$ a m8lerial misstalemenl in the financial stslemenls or * material mi55taternent of the other information. If, based on the work we have performed. we conclude that there is a material misststerrenl ol thk8 other infomialion. we are required lo report that fact. We have nolhhng lo report in this fegard. 12-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2023 Opinions on other matters prescrlbed by the Companies Act 21x16 In our opinion, based on the work undertaken in the COUTse of the audit" the information given in the trustees, report. which includes the diTectors' report prepared for the purposes of compafty law, for the financial year for whth the fin8nco1 slatemenls are pPared is consislenl th the financial slatement5'. and the directors, report Included within the trustees. report has twi pPared in accordance with applicable legal requirernents. Mattern on vthlch we are requirèd to report by exceptlon In the light of the knowledge and understsndin9 ofthe grtyjp and parent charitable company and 115 environment obtained in the course of the audit, we have nol idenlthed material misslalernents in the directors. rèport included wf(hin the trustees. reF<Jrt. We have nolhin9 to report in respect of the followng matters in relation lo which the Companies Act 2006 requires us lo report t¢ you rf, in our opinion.. adequate and proper accounting records have not been kept by the Pa nl Charitable company, or returns adequate for our audit have not been weceived Irom branches nol visited by us., or the parent charilable Company finanaal slalements are not in agreement with the a¢wunting Tewrds and returns., or rtain disdosure5 of tru5tees' remuneralion spectfied by law are not made,. or we have not received all the information and explanations we requife lor our audit," OT the Iruslees were not enlrtled to prepare the finarKial 51atemerhts In accordance wth the small companies regirne and take advantage of the small companies. exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of tru$t••s As explained more fulty in the tru51ees' respons1.11eS statement set out on pages 2.3, the Iruslee5 {who are also the director5 of the Charitable company for the purposes of company lawl are reswnsible for the preparation of the financial slalemenls and for being sa115fied that they gNe a true and fair view, and for such internal control as the trustees detefmine is neSary to enable the p paralion of financial statements that are free from malerial misstalemenl, whelhef due lo fraud or error. In prep8nng the financial stalements, the trustees are responsible for assessing the group and parent charitable company's abilrty lo continue as a going concem, disdosing. as apklicable. matters related 10 90ing concern and using the goin9 concern basis of accountsng unless the trustee5 elthef intend to liquidate the company or lo cease operats"on$, or have no realisbc alternative bul lo do so. Audltorfs responslbilhles forthe audft of the financial statements Our obje¢tives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or error. and to iSSLTre an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit mnducled in a¢cordance with ISAS IUKI wll avayS delect a material misstatement when rt exists. Misslatemenls can arise from fraud or errof and are considere(I material rf. individually or in Ihe aggregate. they could reasonably be expected lo influence the economic decisions ol users taken on the basis of these financial slalemenls. IrgularitIes, in¢luding fravd. ale instsnces of non-compli8nce wlh laws and regulations. We design procedures in line with our responsibilities, ouUined above, lo detect material misstatements in respect of irregularities. including fraud. The exlenl lo whth our procedure5 are capable of delecling irregulanties. induding fraud is detailed below". The chantable company is required lo coffoly with Charity law and, b05ed on our kn¢)wledge of ils activities. we identified that the legal requirenI lo accuralely account for restricted funds was of key significance. We gained an understanding of how the charitsble company complEd with its legal and regulatory Iramework, including the requirement to property account for restricted funds. through di$cu$$ions with managem1 and a review ol the dccumenled policies, PTocedures, and controls. 13-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2023 Auditorfs r•5ponsibilities forthe auditof the financial statements lcontlnuedl OUT approach was to check thal all reslricled income was property identiffied aTrJ separatety accounted for and lo ensure Ihal only valid and appropriate expendiluw was charged lo restricted funds. We also obtained an understanding of the legal and regulatory frameworks that are applicable lo Safer Places and delemined Ihalthe most signfficanl are the Finèncial Reporting Slandaid 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, (United Kingdom Generally A¢cepled Accounting Prath"cel, the Companies Act 2006, the Housing and Regeneration Act 2008, and the regulatory standard5 issued by the Regulator of Social HoLbsin9. We understood how the Association is complying with th¢)se framew¢yks via mMunItion wlh those arged wlh govemwKe, t(>Jether with the review of Ihe ASS3110n'S documented policies and Fyocedures. We assessed the suseeplibility of the Group's financial ststements lo material misstatement, including how fraud might occur by considering the key risks impacting the financial statements. These included risks associated wlh VenUe recognrtion, application of accounting eslimale, and management override of contro15, which were discussed and agreed by the audit team. Our approach induded agreeing the recognition of income lo the terms of tenancy agements, grant agreemenls and contracts, reviewin9 the assumptions used ané controls applied in the ¢alcul3lion of accounting estimates. the review of journal entnes proce55ed in the accounting records and the investigation of stgnif¢antaftd unusLtal transaclrons identified from our review of the accounting records. Ba on this understsnding we designed our audit procedures lo identrfy non-¢ornplian¢e with such laws and regulafions. Our procedures involved vieW of the reporting lo the board members wrth respect lo the applution of the documented policies and procedures and VIeW of the financial slalernents lo ensure wmpliance with the reportiThJ requirements of the Group. There are inheieni limitab.ons in the audit pro¢edure$ described above anij. thefvrther removed n¢)n-compliance with laws and regulations ts from the events and transactions reflected in the financial statements, Ihe less likely we would become aware ol rt. The risk ol not detecting a material misstslement due to fraud is higher than the risk of not deteth'ng one resuliing from err¢f, as fraud may invOe deliberate concealment by. for example. forgery or intentional misrepresentaiions. or through cO51L)n. A further description of our responsibilities for the audit of (he financral statements is located on the Financial Reporting Council's websile al. w.fr This description forms part ol our auditor's rewrt. Useofour report This report is made solety lo the chaiilable company's members, as a body, in accordance with Chapter 3 of Part 76 oflhe Companies Ad 2006. Our audit work has been vndertaken. so that we might stale lo the charitable ompany's members those matters we are required lo stale lo them in an auditor's report and for no other purpose. To the fullest extent pem)itted by law. we do not aept or assu responsibility 10 8nyone other than the Charitab company and the chafltable company's members as a body. for our audit work, for this report or for the opinions we have formed. James Holland-Leader FCA Isenior Statutory Audttor) For and on behalf of Knox Cropper LLP. Statutory Auditor 65 Leadenhall Streel London EC3A 2AD 2023 14-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Turnover 3,953,748 3,407,029 Less." Operating ¢JJsts Other Irme 13.783.405) {3.156,039} 21.566 2,175 Operatlng surpluslldeficlti 191.909 253,165 Interest Recewable ond Imiestsnent Income 7,611 525 Nel Interest on Defined Benefit Lla"1ty 17 118.0001 Gain on revaluali¢)n of invesfftnts (5.774) 6,622 Gain on revaluation ofinvestff*nl prOlIeS 24,995 Surpluslldeficltl for th• year 218.741 242,312 Remeasuremenl of Defined Benefft Lk4bilty 17 38,000 914,000 Total Compr•henslve Income forthe Year £256,741 £1.156,312 All incoming resources and resources exnded derNe from ntInU adwilies. CONSOLIDA TED STATEMENTOF CHANGES IN RESERves R••tslcted Unrg¥trl¢tsd Total Balance at 1 st April 2022 1,829.935 1,829,935 Total Comprehensive Income 1.413 255,328 256,741 Transfers betrn funds Balance al 31 st March 2023 1,413 2,085.263 2.086,676 The notes on pages 25 10 45 fom part of these financial statements. 15-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2023 2023 2022 Fixed assets Housing propety assets Other fixed assets Investment Properties Investments 7a 122.170 43.550 939.995 105.863 74.830 50,720 915,000 106,622 1.211,578 1,147,172 Current assets Debtors Cash al bank and in hand 10 524.721 1.165,126 214.904 1.341,849 1,689,847 1,556.753 Cr•dltoYs'. amounts falling due within one year 1814,7491 {779.9901 Net curront assets 875,098 776.763 Net assets excluding pension schgme liabS1ities 2.086,676 1.923.935 Defined benefit pension 5cherr¢ liability 194,0001 Net assetsllliabllltiesl including pension scheme £2,086,676 £1,829.935 RepTesonted by: Restricted furKIs Unreslricled funds Pension reserve 14 15 1,413 2.085,263 1,923,935 {94,000) Total Funds £2,086.676 £1,829.935 The financial slalements h8ve been prepared in accordance with the speckal provisions in Part 15 of tho Companies Act 2006 relating lo srnall comp8nies. Approved by the Board of TTUSlees on.... 19109..2023 and %gned on its behawby: Claire Arnold CIHlrffjA Clalre Arnold- Dlrector Douglas Wlldey- Dlrg¢tor The notes on pages 19 10 38 f¢)m) part of Ihese financi81 stalernents. 16-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 COMPANY STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2023 2023 2022 Flxed assets Housing propety assets Other f xed assets Investment Propertre5 Inve51menls 7a 122,170 43,550 939,995 105.964 74.830 50,720 915,000 106,723 1.211,679 1,147.273 Current assets Debtors Cash at bank arKI in hand 10 600,973 1.017.953 185.553 1,340.799 1,618.926 1.526,352 Credltors: amounts falling due within one year (775,0011 {759.8901 Net current assets 843.925 766,462 Net assets exclud•ng pen$lon Scheme Ilabiliiles 2.055,604 1,913,735 Defined benefit pension sche liability 17 194.0001 Net assetsllllablliti0s1 Ineludlng pension xhème Ilabilities £2,055.604 £1,819,73S Represented by: Restricted fund5 Unreslricied lunds Pension reserve 14 15 15 1,413 2.054,191 1.913,735 194,0001 Totsi Funds £2,055.604 £1,819.735 The parent company's total comprehensive income for the year amounted to £235,86912022.. £1,146,012). The finanaal statements have been prepared in accordance wrth the speaal provisions in Part 15 of the Companies Act 2006 relating to small companies. Approved by the Board of Trustees on... 19109... 2023 and signed on rt5 behalf by.. Claire Arnol 2D3I L$315) 13J511GMT. Claire Amold- Dlrector Douglas Wildey. Dlrector The Troles on pages 19 to 38 ftym part of these financial slatements. 17
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Net cash generated from Operatlng A¢tlvitie$ (77,5681 617.152 Cashflows from Investing aclivrties Purchase ol Tangible Fixed Assets Purehase of Fixed Asset Invesiments Proceeds from disposal ol Tangible Fixed Assets Interest ReceNed 1101.751) 147,122) {100.0001 2,596 525 {99.1551 {146.5971 Nel Change in Cash and Cash EquNalent 1176.7231 470.555 Cash and Cash Equivalent al beginning ofthe year 1.341.849 871,294 C8sh and Cash EquNalenl at end of Ihe ye £1,165.126 £1,341,849 Cashflows from Operatlng Activities SurplusllDeficrtl for the Year Oepreciation and losses on disposal Iln¢reasellDeca$e in Debtors IncreasellDe¢reasel in Creditor5 . Interest Receivable Net Interest on Pension Liat41ty Pension Cg$tslExpense Gains on revaluation 218,741 61,581 {309,817} 34,759 (7,6111 242,312 61,704 185,4051 423,688 15251 18,000 136.0001 {6.6221 (56,0001 {19,2211 £(77,568} £617.152 Analysis of Changes In net fvnds At 0110412022 Cash flo& At 3110312023 Cash £1,341,849 £1176,7231 £1,165,126 18-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1 A¢counting pollcles (al Basls of preparatlon and assessment of going concern The aount$ have been prepared under the historical cost convenbon wth item5 recognised al cost or Iransaclion value unless othe1$e slated in the relevant notes lo the accounts. They have been prepared in accordance with the Financial Repo(ting Standard applicable in the Unf(ed Kin9dom and Republic of Ireland IFRS 102}, the Compan5 Act 2006 the Statement of Recommended Practice for RegisteTed Social Housing Provitlers 2016 and the Accounting Direction for Private Registered Providers of Soo"aS Housing 2022. The Charttatre Company constituies a public benefil entity as defined by FRS 102. The Board has reasonable expectation that the Charity has adeqL¢ate resources lo Continue operations for the foreseeable fulure. For this reason. the going concern basis has continued lo be used in pieparing the financial Statements The Board has considered the impact of Covid-19 on the short and long term health ¢f the Charity, and 15 content that the measures taken by the Charity. together wth strong reserves and enhance<J prospe¢ts due to Domestic Abuse Bill changes and the implementabon of the government's new domesti¢ abuse st¥ategy. provides adequate IecaStIng and assurance that the going concern basis is appropriate in preparing the Financial Statements. The presentation curnency in the financial slalemenls is the p)und sterling1£). Ib) Company status Safer Places is a charitable company limited by guarantee in¢orporated in England and Wale5. Thg members ol the company are the trustees name¢J on page 1. In the evenl of the ¢haTity being wound up. the liabilty n respecl of the guaranlee is IKniled 10 £1 per member of thg charity. Icl Group Flnanclal Ststements These financial stslement5 consolidate the results of the Charitable Company and rts wholly owned subsidiaries, Safer Properties Limited 1087f)44151 and Safer Places Professional Training and Development C.l.C.1135247491, on a line by line basis. A separate Statement of Cornprehen5ivg Inco has not been presenled for the parent Charitable Company itself, having taken advantage of the exemption afforded by the Companies Act 2006. Id) Fund accounting General funds are Unrestred funds are èvai18ble for use at the thsLYetion ofthe trustees in furtherance of the geneial objectives ol the charity and which have not been designated for other purposes. Designated funds comprise unrestricled fund5 that have been Set aside by the Iruslees for particular purposes. The aim and use of each designated fund 15 sel out in the notes to the financial slatements. Restricted funds are ftJnd$. vthi¢h are be used in accordance with specrfic re$trscii¢)ns imposed by donors or which have been raised by the tharity for parb"cular purpose5. The cost ol raising and adminislenng suth funds is charged against the Spear fund. 19-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (el Incoming resour¢e5 All income is recognised once the charity has enlitlemenl lo the income. il is probable Ihal the income will be received and the amount of income can be measured reliably. Income is deferred where.. The donor specthes that the grant musl be used in Ihe future accountin9 period5'. or The donor has imposed conditions. which must be ml before the charity has vnconditwal entitlement. For legac$. ents'llemenl B wthen the impending diStributft is probable. Grants have been included as income from charitable ath"vrties where these amount to a contract for services but as volunlary income where the money is given in response lo an appeal or wlh greater freedom of use. for example monies for core fvnding. Gifts in kind donated fof distribution a included 81 valuatiC and recognised as irtme when they are distributed to the projects. Gifts donated for resale are induded as income when they are sold. Donated facilities are inclu4Yed at the value lo the charity where this can be quantified, and a third party is bearing the cost. No amounts are included in the ffinancial Stater1$ for services donated by volunteer5. 10 Resources expended Liabilities are recognised as expenditu as soon as there is a legal and constructive obligation committing the charity to that expenditure, it is probable that Settlement wll be required, and the amount of the obligation can be measured reliably. All expendilure is accounted for on an accruals basis and has been classified under headings that aggregate all costs lated lo the category. Where c051s cannot be directly attribLrted to particular headings they have been allocated to activities on a basis con$istenl with Ihe use of the resources. Support costs are those costs incurred diredy in support of expenditure on the objects ol the charity and include project management carried out ai Headquarter5. Govemance costs are those incurred In connecknon administration of the charity and compliance with n51ilulional and statutory requirements. (91 Tangible fixed assets and d•pfKiatlon Tangible fixed assets cosb.ng more than £500 are capitahsed and iTrJuded at cost including any incidental expense$ of acquisib"on. Deweciation is provided on all tangible fbxed assets at rates calculated to write off the cost on a slraighl line basis over their expected useful economic lives as ftAIows-. Years Leasehold Refuge Itrw¢)vemwls: Fabric Roofs Kitchens Doors and Wndows Bathrooms Boilers Refuge Equipment Leasehold Office Impn>vements Furniture and Equipment Motor vehleS 40 20 3.33 25 15 6.67 20 -20-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 {h} Penslon costs The charitable company participates in a group defined benefrt pension scheme providing benefits base¢J on final pensionable pay. This is a funded scheme. and the assets are held separately from tlw)se of the charity in separate trustee admintstered funds. Pension scheme assets are measured al fairvalue and liabilrties a measured on an actuarial basis ugng the prO1ted unit method and discounted at a rate equivalent lo the current rale of r¢turn on a high-qualty Corporate bond of equivalent term and currency lo the liabilities. The actuarial valuations are oblained at least triennially and are updated al each balanse sheet dale. The amounts charged to opefating surplus are the current Service costs and gains and losses on settlements and rtallMentS together wrth any change in the nel defined benefit liability arising from employee seryice. They 8re included as part of staff costs. Nel interest on the defingd benefft liability is shown as a cost in the Statement of comprehensive income The remeasuremenl of the defined benefrt Iiabilrty is also reported is the stslement of comprehenstve income, and rs shown tft more detsil in Note 17 to the Accounts. 111 0ratIng L•as•s Rentals under operating leases are tharged on a slraight-line basis over Ihe lease lemi. (Jl Inveslmgnts Investment properties are measured at lair value at each repth.ng dale changes in fair value recognised in the Slalement of Comprehensive Irorne. Depreciatson is nol provided in respect of investmenl properties. Investments in subsidiaries are stated al cost less proviSn for iTrpaim)ent. The charitable company's inveslments are a fomi of basic financial instrument and are initially recognised al their transaction value and subsequently measured al their fair value as at the balan¢e sheet dale using the closing quoled market price. The Statement of Comprehensive Ir>¢ome includes the nel gains and losse5 ansing on Ihe ValUab"on$ and disposals Ihroughoul the year. Realised gains and losses on investments are calcLtlated a$ the differen between sales proceeds and their opening carrying value or their puichase vabje if acquired subsequent lo the first day of the finanual year. Unrealised gains and losses are calculated as the difference tseeen the fair value at the year end and their Calng value. (kl Debto Trade and other debtors are reeognised al the setuemenl am¢JJnt due after any trade discount offered. Prepayments are valued st Ihe arrthint wepaid net of any trade discounts due. (l) Cash at bank and In hand Cash al bank and cash in hand inclLMJes cash and short temi highly liquid investrnents a short maturity of three months oi less from thè dale of acqui5ibon or opening of the deposTt or Similar account_ 21
SAFER PLACES {A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Im} Crodltors and pr1$10$ Creditors and provisions are recognised where the char-ty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle the ¢bligabon can be measured or estimated relia. Creditors and provisions are nomally recognised al their setuenknt amount after allowing lor any trade discounts due. Inl Flnanclal instruments The charily only has financial assets and financial liabilrties of a kind that qualify as b8SIC financial instruments Basic financial instruments are inilialty fecognised al transa¢lion value and subsequently mea$ured al their sewemenl value with the exception of bank loans which are subsequently measured al atrthtsed cost using the effective interest method. {ol Sign511cant ManagementJudgefflents and Estimatlon Uncertaiftlles The following are the critical judgements and key sources of estimation uncertainly that the 8oard has made In the process of applying the charity's accounbng policres and that have the most signifi¢anl effect on the amounts COgnised in Ihe finan¢ial statements.. Fair value of Investment PrnpertS Investment properties are measured al fair value al each reporting dale with changes in fair value recognised in the Stalement of Comprehensive Income. The Trustees assess the f811 value ol the investment properiies based on cecent market values In determining the fair value on this basis, the valuation femains sensilive to fluctuations in the property market. Idenlrfali0n of housingpmperty components The charity accounts for ils expenditure on housing properties using component accounting. Under component accounting. the housing propety is divided into those major Components which are considered to have substanlialty drfferent useful econ¢ynic live$_ Judgemet71 is used in allocating propety costs belween components (land. slructure. kil¢hens, bathrooms etcl and in determining the uselul economic INes of each conwnent. Housry property depreciatrtin is calculated on a component by component basis. The idenlilication of such components is a matter of judgement and may have a material impa¢l on the depreciation charge. The components selected are those vthich reflect how th8 major repairs to the pr¢)pety are managed. Uselullwes oldepreciable assets Management reviews rts esbmate of the useful INes of deweciable assets al each reporting dat8 based on the expected utility of the as5els. Uncertainbes in these estimètes relate lo lechnologi1 obsolescence, wilh regard to IT equipmenvs0are and any changes to decent homes standard requiring frequent replacement ofcomponents. The accLwnulaled depreciation at 31 March 2023 was £139,097. 8ad deblprovision A full line by line review of trade debtors is rried out at the end of each rnonth. lISt every attempt 15 made to ensure th.at the bad debt provisions are as accurate as possible. there remains a risk thal the provisions do not match the level of debts which ultimately prove lo be uncollectible. -22-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (ol Significant Management Judgeffl¢llts and Estimation Un¢¢rta¢nties leontlnued) Dèfined 8enefilP8ns*?n Scheme The Charity has an obligation lo pay pension benefits to eertain employees. The cost of these benefits and the present value of the obligation depend on a number of factors. including.. life expectancy, asset valualions and the discount rale on corporate bonds. Management estimates these factors in determining the nel pension asset in the balance sheet. The assumptn$ refiecl historical experience and current Inds. A liability of £Nil is recorded in the Statement of Financial Position a131 Mareh 2023 for the Essex Pension Fund. See note 17 for the disclosures relaling lo the defined benefft scheme. 23-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income- GryP unre5tr1ed 2023 Restrlcted 2023 Total 2023 Total 2022 Donations and Legacles DonatKJns Children In Negd Herts Cc¥nmunty Foundat Other grants 29.108 29.108 38,798 56.174 38,798 10.000 44.866 38,798 1.960 14,364 16,324 £31.068 £53,162 £84.230 149.838 ChaFltable Activiti. Reluge renls receivae Refuge Service tharges Supporting People Hertfordshire Hertfordshire Community FunL* Tier 2 Housing Support PCC ISAC Service Advance EDASS CRC Services Hert5 County Council Sunllower Ministry of Housing, CLG Training SeThices 1,004.719 69.572 1.661.822 1,004.719 69.572 1,661,822 293,251 35.C60 1(6.622 49.953 2,912 947,226 59.287 1,504,250 293.251 35,C60 1C6,622 78.000 72,9S1 283,200 25.770 2,100 99.938 142,699 49,953 290,912 1.650 1,650 99.938 216.819 99.938 216,819 £3.004.535 £825,783 3,830,318 3,21 S,431 Investment Properties Rents receivable 39.200 39.200 41.760 Tumover £3,074,803 £878.945 £3,953.748 £3,407.029 -24-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Operatin9 COSty- Group l otal 2023 Total 2022 Servlces to victims seeklng support Direclcosls Staff Costs Professional fees Refuge rents 8nd service charges Refuge running expenses Refuge depreciation Other operating expenses Bad debts 1,177.737 33.527 432,752 423,104 34.836 831,729 27.571 1,121,254 30.929 341,724 317.205 36.161 557,366 46.538 Supportc¢ksts Staff costs Depreciathjn Insurance Legal and professional fees Avdil fee Meeting expenses Other overhead expenses 465,643 25.544 25.226 28.036 19,700 26,745 28.906 34,336 10,510 167,449 129,512 3,775.748 3.146,838 Other a¢tivitles Investment propety managementC05ts 7.657 9.201 Total operating costs £3.783,405 £3,156,039 Unreslri¢led Funds Restricled Funds 2,905.873 877,532 2,540,962 615,077 £3.783.405 £3,156,039 -25-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accommodation in managemenl Social housing incorne and expendrture.. Rents receivable excluding serwce charges Service charges Teceivable Less.. Soeial housing operating costs 2023 2022 1.004,719 69,572 11.231.791) 947.226 59,287 11,007.968) Nel surpluslldefi¢ill from social hous9 athilies. £1157.500) £11,455) Void losses £185,176 £297.148 Unlts Unhs 74 Supported hwsing The RP manages properties on behalf of Swan, Catalyst. L&Q. Housing A5$tionS. registered social housing providefs operating in Essex and Herts. Operating surplusldeficlt This is stsled after charging". Trustees, emoluments Auditor's rernuneration (excluding VAn Operating lease rental$- land and buiklings Operating lease rentals- office eqLprnent Depreciats"on ofowned assets 2023 2022 13,B65 433,029 10,425 364,264 12,350 59,903 61,581 Staff costs 2023 2022 Wages and sa5aries Social security costs Pension costs Temiinalion payments 1.371,591 121,553 152,477 1,230.546 109.019 164.553 £1.645,621 £1.504.118 2023 No 2022 No The average weekly number offull-lime equivalent employees during the year was.. The average number of employees duriny the yearwas 48 44 51 There were ¥0 employees whose employee benefits fell in the banding £60,000 10 £70,000 an(Lone in the banding £90.000 10 £100.000. The employee benefits for Ihe Trustees and Key Management Personnel amounted lo £319.28612022". £346,697). The highest paid Director received remuneration (excluding pension conlributs.onsl of £87.830 {2022'. £83.0421 and is an ordinary member of the defined benefit pension scheme as disclosed in Note 17. Employee benefrts comprise salaries, social security contributions and pension contributions. No trustee received reMUrlatIOn for their as a Iruslee durin9 the year12022'. £nill- -26-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Tangible fixod apsets- Houslng propertl¢s Group and Parent Leasehold Refuge Improvements Refuge Equipment Totsl Cost.. At 1 Aplll Adthb"ons Disp05als At 31 March 30,31B 50,299 408,957 33,430 (316,9711 125,416 439.275 B3,729 1316,971) 206,033 Dppreciation: At 1 April Charge for the Year Disp05als Al 31 March 12,930 7.601 351,515 28,788 (316,9711 63,332 364,445 36.389 1316,9711 83,863 Net 8ook Value 31 March 2022 £57,442 £74.830 Net book Value 31 Mar¢h 2023 £60,086 £82,084 £122,170 7b Other Fixed Assets Group and Parent Leasehold Officè Improvements Fumiture and Equipm•nt Motor Vehicle5 Totsl Cost.. Al 1 April Additions Disposals Al 31 March 63,615 390.869 18.022 1321.2431 B7.648 14.094 468,578 18,022 1367.8181 98,784 114,0941 Depreciation: Al 1 April Charge for the Year Disposals At 31 March 50.986 11,499 (52.4791 006 352.778 13.693 (321,2431 45.228 14.094 417.858 25,192 1387,8161 55.234 114,0941 Not book value 31 March 2022 £12,629 £38.091 £50,720 Net book value 31 Mah 2023 £1.130 £42,420 £43,550 27-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Investment properties Group and Pargnt In¥èstm•nt Properties Total Al 1 April 2022 Change in lair vall 915,000 24,995 915,000 24,995 Al 31 sl March 2023 The inveslrnenl properties have been valued by the Trustees al 31 March 2023 based on current market value which h8s been assesseil on the basis of historic sdling prices ol similai properties in the location over the course of the financial year. Investments Grp Parent Investment In unit tntst InveJlm¢ntln unit truBt Grnup Undertaking• Total Total At 1 April 2022 ditions Unrealised gains 1Cfj.622 5.015 15,7741 106.622 5.015 15,7741 101 1C6.622 5.015 15.7741 1C6,723 5,015 15,7741 At 31 March 2023 £105,863 £105,863 £101 £105.863 £105. Investnts in group uThJertakings oynprises 100% of tr dinary share capital of Safer Properties Limited l¢ompany number.. 08704415) and Safer Places Professional Tiaining and Development CIC (company nurnber.. 13524749, previously called Brightei Futures@Safer Places CIC}. The principal a¢tivitie$ of the subsKliarie$ are Property investrnent and the provision of training courses. respectsvely. Summaries of the trading resums are sh¢)wn below.. Safer Places Prolossional Trninlng and Developmgnt c.i.c. Safor Properties Limited 2023 2022 2023 2022 Turnover Costs of sales Gross profit Adminislralive exwses Operatlng Ilossllprofft Intere51 receivable Profit for the financlal year 217.883 145 122 72.761 65,669 40 942 24,727 30.522 650 £31,172 10,150 150 £10,3LKJ The a9gregale capital and reseNes oflhe subsidiary companies a131 March 2023were-. Safer Properties Limited £Nil12022.. £Nil). and Safer PLgces Protessional Training and E)evelopmpnl C.l.C. £31.173,12022.' £10,301). -28-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10 Debto GrrAJp Paienl 2023 2022 2023 2022 Social housing rent arrears Less provision Iof doubttul debls 120.702 146.7241 110,660 {102.5941 120,702 146.724} 110,660 1102,5941 73.978 73.978 8.066 Trade debtors Other debtors and ¥crued Prepaymen15 383,458 4.927 62.35B 136,062 2,394 68.382 327.8 138.189 60.910 105,B11 3,294 68,382 £524,721 £214.904 £600.973 £185,553 oup Parent 11 Cr•dIto. amounts falllng due within on• year 2023 2022 2023 2022 Social housing rent paid in thance Trade CditOrS Taxation & social securty Accruals and deferred income Am¢unts owed to group undertakings Othgr creditors 48,627 41.594 44.037 679,261 32.398 83.950 28.366 633,604 48.627 39,425 27.831 566,497 91,391 1,230 32,398 83,950 28.366 532,194 81.310 1,672 1,230 1.672 £814,749 £779,990 £775.CKJI £759,890 12 Deferred Income Group Parent 2023 2022 2023 2022 8roughl lon¥ar Other debtors and accrued irKome Prepayments 542,298 {542.1231 583.979 106.991 1106.991) 542,298 443.888 (443.7131 478.068 106,991 (106,9911 443,888 £584.154 £542.298 £478.243 £443,888 -29-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13 Analysis of net assfrts between fund$ Fund balances at 31 Mar¢h 2023 Unrestricted Funds Restricted Funds Total 2023 Group Investments Tangible fixed assets Nel current assets Pension lbiLItieS 1.045,858 165.720 873,685 1,045,858 165.720 875,096 1,413 £2.085.263 £1,413 £2.086,676 Unrestricted Funds Restricted Funds Total 2023 Parent.. Investments Tangible fixed assets Net current assets Pension liabilities 1,045.959 165.720 842,512 1.045,959 165,720 843,925 1.413 £2,054.191 £1.413 £2,055.604 Fund balances at 31 March 2022 Unrestricted Funds Restricted Funds Total 2022 Grnup Inveslrnents Tangible fixed assets Net current assets Pension liabilrties 1,021.622 125,550 776.763 194.C4)01 1,021,622 125.550 776,763 194,0001 £1,829.935 £1.829.935 Unrestricted Funds Restricted Funds Total 2022 Parenl.. Investments Tangible red assets Net current assets Pension liabilities 1,021.723 125,550 766.462 194,000) 1.021.723 125,550 766,462 194,WO) £1.819.735 £1,819.735
SAFER PLACES IA COMPANY LIMITED 8Y GUARANTEEI NOTES TO THE FINANCIAL STATEME14TS FOR THE YEAR ENDe0 31 MARCH 2023 14 Fund•-¢urrentye•i Grtsup ond Parnnt At1Ap At31 Mpr ert5 c4rnmyFL¥datslTr EDASS MOJ P¢C- Childien In Ne•J IAHCLG-Essex DASty PilgTlm'iTrustSe Prui#t Olher Donatvn$ &GrwiS 293.251 290.912 106.622 38.798 1292.7621 {2.91• {1CIS.6221 137.0541 199.9361 114.J641 135.wl 14.J64 JS.C6fy É1on.$32> El.415 Restrfcted Fn48-pfyr A11Api E -11- At 31 Mar 2022 Group and par•nt 14DVAN¢E ISAC Hens CommLwityFtyJr EDASS ¢hildr8n IDN 4HCLG IClin Contrgl Fur IV21 71951 78,WO 172.961} 1i0.riJo} 12632¢bJl 138.790 199.936} {8.OCOI 283,24 38.790 95.9 Olher DOn*tn5 &G> 9M16 1g.B16) £61S.077 E(615.tsm -31
SAFER PLACES {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 MOJ Extraordlnary COVID Funding Additional funding lo provide 51affing ¢apacrty to sustain seNice levels through the pandemic- particularty relaled lo increased refeffals and out of houts supwt. ISAC Seryice Specialist support service supporting the victtms of slalknng. MHCLG Emergency COVID Funding Funding by the Ministy of Housing, Communrties and Local govemment to provide sustsinabilily funding and service enhancements. Coronavlrus Comrnunity Support Fund The Chafity received a grant from the Coronavirys Communty Support Fund administered by the National Loltery Community Fund. Es$•x Coronavirus Response and Recovery Programme Funding by the Essex Communty Foundation lo provide sustainability funding and ser¥Ke enhancements. Children in Need The Charity was awarded a muni-year grant from Children m Need during 2019120 to cover the cosls of employing two childn'S Workers for a ihree-year period. MHCLG These are funds received from the Ministry of Housin9, Comrrnjnities & Local Govemmenl which are re$tri¢led to the provision ol a Complex Needs Refuge and Independent StalkiNJ Advocacy Caseworker service. Iv1511 ADVANCE Funding received as part of the ADVANCE partnership which works with women in the Criminal Justice Syslem. Ilx) Herty Communlty Foundation Funding received to enhance services provided in Hertfordshire. The fund ts used to increase children's support staffing. the provision ol the complex needs refuge Hope House, and for the provision of resettlement support for those leaving refuge. EDASS Funding is received lor Essex Don*stic Abuse Support Services and ulflised for the suppcil and education of those in Essex at medium risk of d¢Jmestrc abuse in order lo recognise. recover fr¢xn, and develop resilienee against abuse. Infection Control Fund This fund is lo support adult social Ca providers, including those with whom the local authority does not have a contracl, to reduce the fate of Covi¢>19 transmission. Pllgrlm's Trust Safe Haven Projoct This is a social we5fare granl from the Pilgrim Trust lo support early act PToJects that improve the life hances of vulneiable women and girls. IxlS11 Other Donations & Grants This ¢onsisls of donations received at the Charity's refuges and is UtlSe on providing support activities ro thosè housed in emergency accommodation. 32-
SAFER PLACES IA COMPANY LIMITED ay GUARANTEEI NQTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED J1 MARCH 2023 16 Urntrfctsd Fund•-Grnup d Fund ulbjlng Fw R•fvrblèhrnvnt Fund Toiil Funo Vnp••irtt•d Pwsh)n Tg¢al BttlÈn brvL4ghtforyard l Awl 21 SuYplU(dErI)lQfIhH y Remeaswernenl Ld•fined bpn•fillMt• Tran51or Banc&Carrj¢lro 31 2022 £750.Lm)) £175.1) £925.(th) 74.623 260.312 £1.699.623 £<1.026.(wi 250.312 t6n,673 242.312 914.000 914.ODO Js.ooD £194.OWI £1,829,935 I36.0) E998,9JS 136.QWI £1.923.935 £750.WD £17$.) Balance broughllw4rd I W)1022 SufPluslldelvii)fo¢thpyè RerneasuremÈni ofdEfmo Trnsferbeh¥e¢nfuré¥ 750.Qtii 175.( 92sr 99U.935 217,324 1.923.9JS 217,)28 1,829.9)5 36.00 58.(M)Q 3g,rpJD 156,L¥JUJ £925.000 £1.160.263 156.0001 tIO85.263 É7£0.0 t175.thX) £2.085.283
SAFER PLACES IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2023 Ufflv•8trttsd Fyndo-Parerrt Ttyjl Fw Toial Fwd Tg141 750.LXM) 17LbX) 925.CLY) 774.72) 290.012 1AVJ.72J 25D.D12 11.026.QWI {11.rthi 914.000 36.OQQ t(94.OLXII £I,819.73S é7J.723 loithl yfj RemeasurernenlordETh¢ Transte[beenfllth 514.D 136.CQQ> cgue.ijs 136.Q)O) £1.413,73S £750.0 £IIS.Lh)O £92S.000 75D.o 1.glJ,lJ5 195.456 (94,f)tr) IF4u1trt)fQrlPye 196.456 19S.456 38.000 50.fiJD Tran4erb•tweenlun05 8*¢•¢•eIQr411 31 hlAtth 2023 156.rtsj £1.129.191 155.mDI 12.fy54.191 £750.fpJD £175.0 t925.rthj È2,054.1$1 Bulldlng Thb lund isiobe ed for Refv¥Wt
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16 Taxation The nature of the income reeeived and the company s charitable activities means that no corporation tax liability arises on the results for the year. The subsidiary, Safer Places Professional Development and Training CIC Gift Aid$ ils taxable profits lo the company and as such no tax charge is recorded in accordance with FRS 102 paragraph 29.14A. 17 Defined bgnellt penslon schemes Safer Places participates in a defined benefil pension stheme - Essex Pension Fund operated by Essex County Council. At 31 March 2019. Safer Places had 118Ctive. 64 ijeferred pensioners and 19 pensioners in the fund. The Employer pays contribution5 of 24.5% plus an additsonal mnetary each year. The assets allocalK*n ofthe fund is as follow5.. 2023 £I)OO's 2022 £QOD'$ Equities Gilts Other Bonds Propety Cash Alternative Assets Other Managed Funds 4.684 113 57 4.820 192 352 658 204 992 810 £8,028 656 270 1,268 15 10 100% 12 10 100% £8,200 DemogfaphicAssumptions include the following lrfe expeclary from a9e 65 2023 2022 Retirin9 loday- Males Females 21.1 23.5 21.6 23.7 Retiring in 20 years- Males - Females 23.0 25.1 25_0 The Financial Assumptsons are as foll(Ms= CPI Increases Salary Increases Pension In¢ase5 Dis¢ounl Rate 2.90% 3.90% 2.90% 4.80% 3.25% 4.25% 3.25% 2.60% The pension cost ar provision for the year ending 31 March 2023 are based on the advice of a piolessionally qjjalified actuary. The JrK)51 recent fomal FRS102 valuation is dated 31 March 2023. The resulls of these valuations are sei out below.
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17 Defined benefit penslon Scheme lcontlnued) lal statement of Financial Position as ot 31 March 2023 2023 2022 2021 Piesent Value of Defined Benefit Obligation Fair Value of FLnd Assets DeficiV(surplus} Impact of asset ceilirg Nel defined benefit liabih"ty/{assetl 5.255,000 8 200 000 (2,945,000) 2 945 000 8,122.000 B 028 000 94.000 8,340,000 7 314 000 1.026.000 An asset ceiling has been reCOgrSe lo linwt the defined benefit asset to £NIl. While it is possible under LGPS regulation$ lor an employei lo receive a refund of surplus, Safer Places is a minor participant in the scheme and ¢Joes nol have sufficient influence lo reduce future contributions lo the heme. Amounts fecognls¢d In Incom$ and Expendilure 2023 2022 Service Costs Net Interest on defined l1a.11ty Administration Expenses 106,OtrJ 125,000 18,000 £110,000 £147.000 Icl Remeasurements In Other Comprehensbve Income 2023 2022 Returns on Fund assets m excess of inlwesl Changes in demographic assumplions Experience gains in deferred benefil obligats'on$ Change in financial assumptions Other actuarial gainslllossesl on assets Changes in effect of asset Cling Remeasuremenl ofthe nel assetslldefined liabdity} 1107,0001 125,000 (333,0001 3,224,000 74.000 {2,945,000} £38.000 549,000 (18.0001 3B3.000 £914,000 Reeoncillation of Op•nlng and Closing Balances of pres•nt Value of the defined benefit obligation 2023 2022 Opening defined benefit obligabon Current Service Cost Interest Cost Changes in DemographicAssumptions Experienced Gain$ on Deferred Benefrt Assumptions Change in Financial Assumpts"ons Esb'maled Benefits Pa Contribulions by Scheme Par1icipants Closing defined benefit obligatKJn 8.122,000 106.000 209.000 {125.0001 333.000 {3.224,000) {187,0001 21,000 £5.255,000 8.340.000 125.000 165.000 18,000 (383.0001 1163.000 20,000 £8,122.000
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17 Defined bene15t peTrslon scheme {cortiTruedl Reconeiliitlon of Opening and Closlng Balance ol Falr Value of Fund$ Assets 2023 2022 Opening F&r ValLP of Fixed Assets Interest on Assets Returns on Assets less Inte51 Adminislralion Expenses Contributions by Employer Contributions by Scheme PartiCipts Eslimaled Benefits Pab Closing Fair Value of Fund Assets 8,028,000 209,000 1107,0001 {4.0001 166.000 21.000 1870 7,314.000 147.000 $49,000 (4,000) 165,000 20,000 Senslti¥ity Analysls £OOO's +0.1% 5,172 £OOO's 0.0% 5,255 OOO'S .0.19 5,340 57 Adjustmentto Discount Ral• Present Value of Totsl Obligab'on$ Projected Service Costs Adjv5tment to Long Term Salary Increase Present Value of Total Obligations Projected SeNi¢e Costs +0.1% 5.259 55 -0.1% 5.251 55 5.255 55 Adjustment to Pension Incre*$es and deforred r•valuatlon Present Value of Total OtrAigations Projected Service Costs +0.1% 5,337 .0.1% 5.175 5.255 Adjustment lo Llfe Expectsncy Assumptlons Present Value of Total Obligations Projected Service Costs +1Year 5,441 57 Mone 5.255 .1 Year 5.076 53 Igl Projected pension expensè forthe year to 31 March 2024 Service Cost Net Interest on defmed benefit liabilrtyl{asset} Administration Expenses Total Lossll&Jrplus} 55,000 (145.0001 Employer Contr'buli¢)n -37-
SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18 Related party trnnsactions During the year the chaTty made purchases of Prgfessional SeNices £13,524 12022.. 1£15.9001 from D.Wldey. a trustee of the charity. No balance wa5 due al the year end. No trustee received reimbursement of expensg$12022.' no trustee reeeived ary reimbursemènt of expenses). Safer Places is the paienl undertaking of Safer Places Professional Training and Devèlopment CIC, an unregistered body. Safer Places acts as paymaster for staff jointly employed by both enlilies and recharged slaff costs amounting lo £127,572. Safer Places charged SPPTDCIC a management fee of £4,790 and recharged pai¢J £5.974 of expenses on that company's beharf. The allocation Of stsff costs was calculated on the basis of time spent by those ernployees on the actwity of the subsidiary with no markup. In addition, the charity collected receipt5 from cUstoErS of the company amounting 10 £7.900. Al the year end, £91.391 was owed by Safer Places to SPPTDCIC. Safer Places is ihe parent undertaking of Safer Properb"es Limrted, an unregistered body. There were n transactions with Safer Properb"es during the year. At the year-end £900 (2022. £9001 was owed by Safer Properties lo Safer Plaees. 19 uitlmate control The charity is under no overall control. bul is administered by the trustees. 20 Financial c¢rnmitments Al 31 Mar¢h 2022 the ¢hty was committed lo making the following payments under non-cancellable operating leases. nd and Buildin 2023 2022 her Group Operating leases which eXPe 2023 2022 thin one year Befv4een and five years In more than five years 413,710 225,655 55.664 241,109 85.548 35,139 42,462 8.622 17,243 £895,029 £326,657 £77.601 £25,865 Land and Buildln 2023 2022 Other Parent OperalirvJ leases which expre 2023 2022 Imlhin one year Betsyeen tsvo and five years In more than fve yea 413.710 225,655 55.664 Z41,109 85,548 35,139 42.462 8,622 17,243 £695.029 £326,657 £77.601 £25,865 21 Capitsl ¢ornmilments At 31 Marth 2023 Saler Places had no capilal comm*merrts.