SaFerPlaces Donieslic Abuse Support Seivices SAFER PLACES ' (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity number 1018832 Company number 02789572 Regulator of Soclal Houslng numbor 4761 'ADC75413* 0111012024 COMPANIES HOUSE #106 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Legal and administration information Trustees annual report 2-12 Independent Auditors, report 13-15 Consolidated Statement of ¢omprehensive Income 16 Consolidated Statement of Changes in Reserves 16 Consolidated Statement of Financial Position 17 Company Statement of Financial Position 18 Consolidated Stetemenl of Cashflows 19 Notes to the Account5 20-39 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATION INFORMATION Charlty number 1018832 Company number 02789572 Governlng document The charitable company is governed by its memorandum and articles of association. Known a¥ Safer Places Registered office The Latton Bush Centre Southern Way Harlow Essex CM18 7BL Audltors Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Banker8 Lloyds Bank Billericay Commercial Centre Lloyds Commercial 89 High Street Billericay Essex CM12 9AT Trustees Douglas Wildey Gift Kapswara Lorraine Larman Sian Chambers Claire Arnold Kathy Osborne (resigned 22 December 2023) Sean Carroll (resigned 21 May 2024) Martina Talbot-Rice (appointed 28 February 2024) Tracy Fisher (appoinled 16 March 2024) Secretary Allison Gardner SAFER PLACES (A CQMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Stru ture Governance and Mana ement Th8 Board of Trustees present their report and financial slalements of Safer Places and its wholly owned subsidiaries, Safer Places Professional Training and Development C.l.C and Safer Properties Limited. Safer Places is a Registered Charity and a Company Limited by Guaranlee. The Charitable Company is also registered with the Regulator of Social Housing (Reg No 4761). Our governing documents are our Memorandum and Articles ofAssociation. Our Truslees are elected from our membership al our Annual General meeting. Our Trustees serve for a period ofthree years and then sland down or seek nomination and re-election. In line with good governance guidance Trustees do nol normally Serve for more than three terms. However, it was agreed that Douglas Wildey continue as a Trustee Since he brings a level of specialist expertise lo Ihe board which 1$ highly valued and would be difficult to replace. Our membership is open lo anyone who supports the objectives set out in our Memorandum of Association and such other per8ons a5 the Tru51ees sha15 admit to membership of the company. An application for membership may be approved or rejected by the Trustees. The Trust8es have the right for good and sufficient rea50n to terminate the membership of any member provided that the member concerned shall have the right to be heard before a final decision is made. We welcome nominations from organisations who are members of Safer Places. Safer Places has no prohibition on clients becoming Members or Trustees providing they are able to meel the eligibility requirements and fulfil the responsibilities of these roles. It is the policy of Safer Places to ensure that all Trustees are eligible and have sufficignl and appropriate skills lo serve. All members wishing to become Trustees undergo a compelency-based selection process and are required to complete a Declaration of Eligibility and a Declaration of Interests annually. Once appointed Trustees participate in an induction process which, includes induction to the company as well as to the role of Trustee, Ongoing training relevant to the role of Trustee is provided. tatement of trustees, r onslblllties The trustees (who are also directors of Safer Places for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom A¢¢ounling Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Iruslees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Group and charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Group for that period. In preparing these financial statements, the Irustees are required lo.. select suilable accounting policies and then apply them consistently., obseNe the methods and principles in the Housing 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 slalements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Group and charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 In so far as the trustees are aware.. there is no relevant audit information of which the Group and charitable company's auditor is unaware; and the trustees have taken all steps that they ought to have taken to make themselves awaro of any relevant audit information and lo establish that the auditor is aware of that infomialion. Our Trustees are also responsible for the following.. Setting the strategic direction of Safer Places, ensuring that it 1$ solvent, well run and meeting the needs for which it was established. Ensuring Safer Places complies with company and Charity requirements, Ensuring that Safer Places does not breach the rules set out in its governing documents and remains true to ils charitable purpose. Making sure Safer Places complies with all requirements of other legislation, which govem the activities of the company. Preventing the misuse of company funds or assets. Ensuring thal company funds and assets are used reasonably and only in the furtherance of the Company's objectives. Avoiding any aclivity that might place the company's assets or reputation at undue risk. Taking special care in investing the company's funds or borrowing funds on behalf of the company. Using their personal skills and experience to ensure the company is well run and efficient. Considering getting e*(ernal professional advice on all matters where there may be material risk to the company or where Trustees may be in breach of Ihelr duties. Day to day management of Safer Places is delegated to Ihe Chief Executive who reports directly to tha Board of Trustees. The Board of Trustees meets at least five limes per year. staff attend Board Meetings and advise on all matters but do nol vote. Statement on the re istered socla housln rovlder's Intern I control s stems The Board takes an active interest in all internal control and corporate governance matters, and aims lo meet the highest standards. The Board accept5 the principles in the National Housing Federation Code of Governance, which go well beyond internal financial control. This statement is confined to internal financial control. Internal financial control means the controls established in order to provide reasonable assurance ol.. the safeguarding of assets against unauthorised use or dispositions- and the maintenance of proper accounting records and the reliability of financial infomiation used wlth the company or for publication Statement The Board acknowledges its primary responsibility for the company's system of inlernal financial control, fof safeguarding the assets of th8 company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Board places considerable importance on maintaining a strong control environment. However, such a syslem can only provide reasonable and never absolute assurance against material misstalement or loss. The Board has established, and intends to continue development of, key procedures designed to provide effective internal financial control. These are the high-level procedures and processes by which the Board reviews the effectiveness of the system of internal financial conlrol. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 The company's internal financial control and monitoring procedures include: clear responslbilities on the part of line and financial management for the maintenance of good financial controls and the production of accurate and timely financial management information the control of key financial risks through clearly laid down authorisation levels and proper segregation of duties detailed monthly budgeting and reporting of income and expenditure, with regular review by management of variances from budgets reporting on compliance with financial controls and procedure {for the year end) by external auditors. These reports are reviewed by the Finance and the Board prior to Ihe use of interim and annual reports. Code of Gov•rnanee and Governance and Flnanclal Vlabllit Stan ar Safer Places has adopled the Charity Governance Code as it best reflects the objectives and aims of the organisalion as a registered charily. The Board undertake a 5-year external audit against the Charity Code of Governance and review the compliance internally on an annual basis. We Can report that there are no outstanding actions or non-compliance against the code and the outcome of the prior audit was that the auditor considered the charity to be well governed. The Board confimis Safer Places is compliant with the Governance and Financial Viability Standard. and Actlvltle The objecllves of Safer Places are.. ' The Charity is establlshed to relleve distress and sufferlng amongst people living wlth or fleelng fmm, orat rlsk of, Domestic Abuse, Including stalklng and harassment,. to pmvlde educatlon lor their future beneflt,. to educate those who work with victlms of domestic vlolence and to provide Soclal housln for those sufferin fleeln or at risk of domestlc vlolence stalkln and harassmenL" Vlsion, MissSon and Values Vision Safer Places vision is a society where everyone lives a life free from fear and abuse. Mlsslon Safer Places exists to drive down the incidence and impact of domestic and sexual abuse and to support those who use our services in their journey to recovery, resilience and independence, Values These are the values we promise to uphold so we never lose sight of our mission: Client Led - We empower our clients to exercise choice and control of their support. We ensure client's voices are heard and that they impact our decision making and shape our services Accessible We work inclusively with our ¢lients, partners and communilies, Anyone who is at risk of experiencing abuse can access our services when, how and where they need them. Respectful We adopt a trauma informed, holislic approach to support. We listen and believe. are non- judgemental and open and honest about what we can and cannot do. Effecllve We deliver high quality services that work for our clients. Our practice is informed by our clients, research, evidence and learning from experts by experience. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Revlew of 202 124 We have had a very busy year providing a range of services across Essex and Hertfordshire in¢luding community outreach, safe accommodation, Iherapeulic seNices, a range of support options including our Triple R programme, children's support service and support for victims with insecure immigration & No Recourse to Public Funds INRPFI. We support anyone, regardless of gender identity, sexualrty, age, race, ethnicity, religion or disability. This year we excitedly started wotking on our new strale9ic plan and we have been very busy making good progress against this. 1- We will review how we spend our money to ensure best value We invested in a new system for Health and Safety and Compliance We undertook a full review of facilities We implemented a new Risk Register with supplier control Fixed cost and overhead allocations have been re-worked lo increaso visibilrty of per contract costs We expect a further reduction in printing Costs as a result of approximately £1.500 per annum. We saved £16,000 through efficiencies IT & systems cost review is complete and pending complele works should realise a cost saving per annum of approximately £3k Future plans We will.. Develop a of more comprehensive cost review programme in relation to facilrties expenditure to better manage refuge supplies and stock Streamline the assessment and admission process for all our services Update the due diligence framework for new property acquisitions to reduce costs e.g. single unit allocations to allow clients to directly pay utilities Review processes related lo resettlement properties lo enable longer tenancies and therefore better financially support the estateslfacilitie8 Cost base 2 - Deliver a gold standard trauma informed. evidence based, inclusive service that meets individual needs Safer Places received the "Gems of Harlow" award for outstanding acts of community service. The event, hosted by Harlow Council at the Civic Centre, on Tuesday 15th August, celebrated the achievements of local charilies making a difference in the communty. We undertook an Adult Needs Assessment and Children's Needs Assessment in our safe accommodallon. We are redeveloping our service model as a result of the learning from the Refuge needs assessment which indicates the diversity wrthin our caseloads and that clients tend to fall into three main groups requiring different levels and types of service based on needs and circumstances. We worked with BralnKind on a research project. We reviewed the recommendations and developed an implementation plan from impact research on.. migrant women, Irans clients experiencing domestic abuse how we can attract a more diverse workforce. Future plans We will.. Work to gain WAFE accreditation Review our Equity, Equality, Diversity and Inclusion offer Undertake more needs assessments to determine if we are meeting the diverse needs of our clients Implement our new tiered service model Implement the recommendalions from the Impact research SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 3 - Support the Community Interests Training Company to generate income to provide added value to our frontline services, enhance the reputation and reach of bolh organisations The C.l.C was fomed in July 2021. At this slage we offered 3 qualifications (IDVA, ISVA & ISAS) and offered a small range of short courses which were not CPD accredited. The team now has 5 members. Our portfolio currently consists of 8 qualifications 12 CPD accredited short courses A bank of 15 webinars to offer blle-size learning opportuniti6s to professionals on speclalist topics We have doubled the number of IDVA cohorts run per year, our most popular and profitable course. Two of our qualifications are bespoke and we are the sole provider of Level 3 Children's Advocate and Level 4 Independent Stalking Advocacy Specialist We have responded to the changes in the Domeslic Abuse Act 2021 lo offer a bespoke chlldren's qualification lo support children as victims of domestic abuse in their own right, Safer Places staff have achieved 74 qualifications internally. Future plans We will. Continue lo grow and develop our team and our training portfolio Develop Safe Accommodation standards in conlunction with Safer Places ID offer Level 4 Sale Accommodation for Managers qualification Launch new training for family courts Considerlengage with market outside of the UK 4 - Recruit, retain, develop and support staff to deliver excellent services Safer Places is an organisation committed to supporting and developing our workforce. We completed an annual review of pay and condition5 and made recommendations to the 8oard As of 31st March there were 65 members of staff compared lo 60 staff in the previous year (April 2023). staff turnover was 1.59Q/o, The same period last year (April 2023) was 1.79Q/o. Safer Places was shortlisled for the Investors in People 2023 award 'UK Employer of the Year.. The award is given to organisations who prioritise the health and wellbeing of their staff and are committed lo better working practices within their organisation. Feedback included.. People felt exceptionally well invested in. There is a highly collaborative and mutually supportive team,. this continuously demonstrated and proactively engendered by the approaches of leaders. People feel empowered and trusted, and said they had been able to progress fvrther than they may have Inilially believed they could. Leadership strategies had not only impacted on outcomes for sen4ice users but also those who work for or ne￿Ork with Safer Places. Future plans We will.. Further invest in the development of fvtvre senior leadership roles Publish and promote our current benefits lo ensure staff continue to be aware of them and use them and improve benefit package for staff Ensure Senior Practitioners have more targeted development plans e.9. around preparing for meeting5 with and influencing partner agencies and groups, report writing etc., through Shadowing and coaching as well as training Invest in more targeted recruitment Improve application of Ihe supérvision and appraisal process allowing better identification of 51aff ready for development and then putting training and coaching plans in place for them SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 5 - Ensuring the estates portfolio is fit for purpose for current and future demands We opened.. Alex House- providing a much-needed safe accommodation for any male survivor who needs us named after a local male Khushi House a specialist Asian women's refuge named by suNivors after a universal word for happiness safe accommodation and specialist support for women with alcohol or drug use in partnership with DrugLink. We have been working hard to bring all our accommodation up to a high standard wrth a programme of planned maintenance We commissioned a chartered surveyor to provide a regular condition surveys on each property providing costed and prioritised recommendation5 for each and working with us on the development of our estates strategy Future plans We will Look at the configuration of the properties we have Look to acquire a further 10 units which could be used for resettlement Extend T with an additional 4 unit$ Develop a plan for refurbishmenl of our safe accommodation As can be seen we have ambitious plans to further develop a plan lo ensure thal our safe accommodalion 1$ suitable la meet the ever-changing needs that we are fsced wrth. We are excited see what the year ahead holds. Our Beneficlarles and Publlc Beneflt Statemen The Trustees are aware and mindful of the Charities Commission guidance, Safer Places has dellvered public benefil in line with the objects and activities of the organisation through the delivery of our core servlces. Ovar the last year Safer Places has delivered Public Benefil in line with the objects of the charity in the following ways.. To relieve dlstress and suff•rlng amongst people Ilvlng wlth or fleelng from domestlc abuse Includlng stalking and harassment We received a total of 3809 referrals for support over the financial year. ation ccom Al Our safe accommodation seNice supported a total of 677 individuals. 266 women, 16 men, 1 non-binary individual and 394 children across our safe accommodation. Outre ch Hertfordshire Our outreach service in Hertfordshire supported 1027 women, 66 men, 1 non-binary person and 613 children, Stalkin Service Our specialist stalking support service supported 434 adults and 363 children. The average time before seeking help was 16 months. 64 % of the cases closed reported feeling safer on exit 580/0 reported improved quality of life course to Public Fun Our specialist IDVA who works with victims who have no recourse to public funds which is paid for by The Pilgrims Trust supported 26 adults with 25 children. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Trlple R We continued to run our psychoeducalional CBT based RRR Domestic Abuse group program. This is a 12- week program in four modules which covers Risk, Recovery and Resilience and Impact on Children. Participants can undertake all four modules or select a specific module this programme can be adapted to personal circumstances and the needs of participants and is delivered through in-person and online sessions for thgse we are supporting. Participants have found the group invaluable in their recovery.. "This group has opened my eyes and changed my life in a posrtive way. I can talk freely without being judged and continue lo learn new things as I heal and understand the past." .1 feel that this programme has some form of magic in it. The whole thing has been so empowering, and my recovery is momentous. I had been crying every day and feeling hopeless. l am now much better and feel posilive about who l am and whatever I decide to do.. I can do it." "I feel so much stronger, braver and that l am starting to re-find myself again. I feel like l am gaining control over my life a little at a time. There have been weeks where Ihe only thin9 that has gol me through it knowing I had Triple R. Thanks to Triple R I feel like l am starting to get back to who l used to be before my abusive relalionship." Chlldren Since the change in the law in 2021, children are automatically classed as victims (in their own right) if they have seen, heard or experienced domestic abuse. Children who stay with us with their parent receive a warm welcome and are mel with a buddy bag welcome pack that contains age-appropriate toys. Children will be able to access age-appropriate group therapies such as drawing, drama. play or Lego therapy and will receive access to one-to one therapies that are age appropriate and child centred. Over the year we have celebrated many special occasions, such as a birthdays and religious celebrations. Individual support plans are developed and regularly reviewed for the children and if any support is required with regards to special educational needs, health needs, disabilities. School applications or any other external agencies. our children and famlty team help to put things in place. Conference We held a conference 'Crealing a Safer Place for Survivors of Domestic Abuse,, on Ihe 8th March lo coincide with International Women's Day. The keynote speaker at the conference was researcher Stephanie Bechelet, from the organisalion Brainkind who support people living with acquired brain injuries and olher neurological condilions in the UK. This year Brainkind released groundbreaking research-'Too Many To Count,. which, with the help of Safer Places and other domestic abuse charities. explored the prevalence and effect of brain injuries on abuse viclims, finding that half of all domestic abuse Survivors may be living with a brain injury. Tralnlng Our Communrty Interest Company, Safer Placés Professional Developmant and Training CIC. ISPPDTCIC) has gone from strength to strength. The organisation is a wholly owned subsidiary of Safer Places with all profit deployed to enhance the direct client services to beneficiarie5 of Safer Places services. The impact of training has been felt wrthin the organisation bul also outside of the organisation as well. Approx 1900 delegates attended our webinars, we pride ourselve$ on our cutting edge range ol lopics including.. DA & pets, Stalking & young people, DA & the deaf community, DA & Mental health, DA & the LGBTQ+ community. DA & Neurodiversity, HBA, Children as victims, DA & suicide, Males victims of DA, DA & the transgender community, Clare's Law - 10 Year Anniversary, Sexism and Misogyny, Sexual Harassment, Online Abuse, VAWG Workshop. 212 delegates attended one of our short courses including 525 people attended our J9 Disclosure Training Sessions 1550 students attended our Healthy Relationships Sessions 205 qualifications were awarded from our accredited programmes We are so proud of what the CIC has achieved over the year and the feedback we have received really just says it all.. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 °Firstly, I wanled to say a huge thank you for ¢elivering the Level 3 IDVA course. I thoroughly enjoyed the course and the support and knowledge you shared was fabulous. It is a life changing course in so many ways, for viclims and for professionals. It definitely has changed my life. I have now secured an IDVA role". .1 just wanted to say a big thank you after receiving the marks and feedback for the ISVA workbook. Thank you for an amazing opportunity and a truly engaging and amazing training course" °After this I then completed the ISVA course and now have Ihe confidence and knowledge Ihat I need to pursue my dream job.. 'Next month I start my new job as a Health IDVA in a hospital.. 'Thank you Safer Places for changing my life.. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Value for Money (VFM) Each year the Charity used a range of data to measure VFM progress against the housing sector. The results help influence investment decisions and provide the regulators and other stakeholders wilh information on the progress of Ihe Charity. whilst also ensuring compliance wilh the regulatory VFM standard. The charity has measured itself against the Acuity smaller providers 2022123 results (median figures, for Cost Per Unit the Supported Housing result has been used due to being more comparable to Safer Places). Metric 2024 2023 Sector Score Commenta Reinvestment 63.63% Safer Places holds its housing stock on operating leases. Fixed assets represent Ihe value of Improvements carried out and, additions therefore represent a grealer proportion of book value. New supply Q/0 {social) O.OOYts O.OOO/• 0.000 Safer Places has not developed any new properties during the year. New suppty OA non-social O.00(/** O.OOQA 0,00% Gearing 1508.4)•A (758.4>0/0 Safer Places has no borrowings. EBITDA MRI NIA Safer Places does not have any borrowin95. The interest charge on the SOCI represents nel interest on the pension deficit, which was nil for 2024. Social Housing Cost Per Unit £14,372 £14,813 £5,395 The nature of Safer Places, properties and the associaled services provided means Ihal there is a significantly higher cost base. Operating Margin (50cial housing) (17.50)0/0 {14.6610/0 The nature of Safer Places, properties means there is high resident tumover causing loss of rent through vacancies. Safer Places has seen reductions lo Ihe amount of Housing Benefit chargeable for clients due lo local authority adjuslmenls lo service charge allowances. putting further pressuie on margins. Operating Margin (overall) Return on Caprtal Employed 0.79Q/o 7.82Q/• 1.88. Whilst the lease-based housing provision means Safer Places has lower lev81 of capital employed, the nature of ils income streams and activities means it generates a lower return than organisalions providing solely housing, 10- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Resenies ollc It is the policy of the board to provide sufficient reserves to- Ensure continuity of provision for a limited period in the evenl of a large variation in income in order that further inGome can be sourced or a reduction in service planned and implemented so as to minimise risk lo our clients. Pay the annual sums associated with reducing the deficit for which we are responsible related to oyr membership of the Local Government Pension Scheme. Provide a refurbishmentfund so thal we can sustain our continuous planned upgrade and refurbishment progrgmme. Reserves will therefore be he 1. Working Capital with sufficient unrestricted funds to contlnue operating at current setvice level for a period of three months 2. Refurbishmenl lo undertake a rolllng programme to sustain Ihe quality of our occommodalion and services. 3. Propety acquisition- the Trustees are currently reviewing refuge requirements across operational areas and are considering investment lo improve provision of services in key areas. rl nd Uncertal The major risks facing Safer Places are.. In light of the continued uncertain economrc conditions. increased costs related to utilities and the supply chain caused by increased fuel costs are a principal risk to Safer Places. 2. Like many charities, in the mid to long term the organisalion must also face the challenge of ensuring adequate funds are available to meet the obligallons of ils defined benefit penslon scheme. We continue to hold assets necessary to manage the fund however the pension obligations remain volatile. The economic conditions again prove challenging not just for the Charity bul for the client base and we continue lo take action to support clients on financial matters as well. 3. To sustain and enhance income related to the training subsidiary in order to provide enhanced services to the stakeholders. The year reflects thal the provision of trainin9 has proved a successful venture to date. Safer Places Investment Polic It is the policy of Safer Places lo achieve the besl possible return on investment and therefore properties were purchased in 2012. The rental return on these properties far exceeds any rate that could be achieved urrently through the financial institutions. Cash funds on reserve will be placed on fixed term deposits according to besl rates al the time and the need for funds to be available. 11 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Revlew of Flnanclal osition Safer Places, conlinued strategy to diversify income and provide fully funded frontline services has resulted in a sustained operating surplus for the group of £79k (2023.. surplus 192k), and taking into account investment returns and financing costs achieved a group surplus for the year of £93k (2023.. surplus £219k) which will be re-invested lo services in the coming financial period to ensure we continue to meet the changing needs of our client base. Social housing income remained relatively constanl showin9 8 slight decrease from 2023 due to adjustments in the types & quantity of unils provided £1.021,911 (2023.. £1,074,291). The cash position of the group has increased by £35,261, due to the surplus for the year net of fixed asset additions. The group and parent charity therefore maintained sufficient cash balances to fulfil its reserves policy at the year end. Investment Properties were determined to be held at fair value and rental income from thg properties a150 remains relatively stable. oin The Board has reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements. The Trustees agreed lo focus on diversfying in¢ome streams and in 202112022 5elup a trading subsidiary to deliver high quality training services within the domestic abuse which continues in 202312024 to realise a significant profit. The organisation continues to operate with 6 months operating costs in reserve and has a strong cash balance. We therefore consider thal the future prospecls for funding lo continue to be encouraging and that we are well placed lo secure additional income. Audltors The Auditors, Knox Cropper LLP, have indicated thal they are willing to be re-appointed at the forthcoming Annual General Meeting. The financial statements have been prepared in accordance wlth the special provisions in Part 15 of the Companies Act 2006 relating to Small companles. By Order of the Board Clalre Arnold CliilvéArf*oW1SeD P.024 LS..37GM1'4 Ji Chair of Trustees Date.. 24-Sep 2024 12 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Safer Places (the'parent charitable company,) and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of comprehensive income, the consolidated statement of changes in reserves, the consolidated and company statement of financial positions, 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 applicable law and United Kingdom Accounting Standards, including Financial Reporting standard 1.02 The Financial Reporting Slandard Applicable in the UK and Republic ol Ireland (Unrted Kingdorn Generally Accepted Accounting Practice). In our opinion, the financial statement8: give a true and fair view of the stale of the group's and of the parent charitable company's affairs as at 31 March 2024 and its incoming resources and application of resources for Ihe year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006, Ihe Housing and Reger)eration Act 2008 and Ihe Accounting Direction for Private Registered Providers of S¢xial Housing 2022. Basls for opinion We conducted our audit in accordance with International Standards on Audlling (UK) IISAS (UK)> and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audil of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requiremenls that are relevant to our audit ol 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 evldence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relatlng to golng concorn In auditing the financial statements, we have concluded that the trustees, use of the going Concern basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed. we have nol identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the charity's ability to continue as going concern for a period of at least ￿e1Ve months from when the financial statement$ are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goin9 concern are described in the relevant sections of this report. Other informatlon The other information comprises the informalion included in the annual report, other than the financial statements and our auditor's report th8reon. The truslees are responsible for the other infomiation. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read Ihe other infomialion and, in doing so, consider whether the other information is materially inconsistent with the financial stalements or our knowledge obtained in the audit or othernise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo 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 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 13- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Oplnlons on other matter5 prescrlbed by the Companles Act 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 wrthin the trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the Ilght ofthe knowledge and understanding of the group and parent charitable company and ils environment obtained in th& course of the audit, we have not identified material misstatemen15 in the directors, report included within the trustees, report. We have nothing to report in respect of th8 lollowing matters in relation to whi¢h the Companies Act 2006 requires us to report to you if, in our opinion.. adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audil have not been received from branches not visited by us., or the parent charitable company financial statements are not in a9reemenl with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the infomiation and explanations we require for OUT audit., or the trustees were not entitled lo prepare the financial slalements in accordance with 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. Responslbllltles of truste As explained more fully in the trustees. responsibilities stalement sel out on pages 2-3, the trustees (who are also th8 directors of the charilable company for Ihe purpose5 of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for such internal control as the trustees detemiine 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, Ihe trustees are responsible for assessing the group and parenl charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate tha company or lo cease operations, or have no realistic allernalive bul to do $0. Audltor's r•sponsibilltles for the audit of the flnanclal statements Our objectives are lo obtain reasonable assyrance about whether the financial statements as a whole are free from material misslatemenl, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol a guarantee Ihat an audit conducted in accordance with ISAS IUKI will always detect a material misstalement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo 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.. The charitable company Is required to comply with charity law and, based on our knowledge of ils activities, we identrfied that the legal requirernent to accurately account for restricted funds was of key significance. We gained an understanding of how Ihe charitable company complied with ils legal and regulatory framework, including the requirement to properly account for restricted funds, through discussrons with management and a review of the documented policies. procedures, and controls. 14- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Audltor's responslbllltle8 for the audlt of the financlal statements (contlnued) Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. We also obtained an understanding of the legal and regulatory frameworks that are applicable to Safer Places and determined thai the most significant are the Financlal Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice), the Companies Act 2006, the Housing and Regeneration Act 2008, and the regulatory standards issued by the Regulator of Social Housing. We understood how the Association is complying with those frameworks vla communication with those charged with governance. together with the review of the Associalion's documented policies and procedures. We assessed the susceptibility of the Group's financial statements to malerial misstatement, including how fraud might occur by considering the key risks impacting the financial statements. These included risks associated with revenue recognition, application of accounting estimate, and management override of controls, which were discussed and agreed by the audit team. Our approach included agreeing the recognition of income to the terms of tenancy agreements, grant agreements and contracts, reviewing the assumptions used and controls applied in the calculation of accounting estimates, the review of journal entries processed in the accounting records and the investigation of significant and unusual transactions identified from our review of the accounting records. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of the reporling to the board members with respect to the application of the documented policies and procedures and review of the financial statements to ensure compliance with the reporting requirements of the Group. There 8re inherent limitation5 in the audit procedures described above and, the further removed non-compli8nce with laws and regulaiions is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misslatemenl 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 descflption of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or uklauditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solety to the chariiable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act2006. Our auditwork has been undertaken, so thatwe might state to the charitable company's members those matters we are required to state to Ihem in an auditor's 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 Ihe charitable company's members as a body. for our audit work, for this report or for the opinions we have formed. James Holland-Leader FCA (Senior Statutory Auditor) For and on behalf of Knox Cropper LLP, Statutory Auditor 65 Leadenhall Street London EC3A 2AD 2024 15 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024 Not01 2024 2023 Turnovor 4,162,285 3,953,748 Less. Operating cost8 Other Income (4,082,804} (3,783,405) 21,566 Operatlng surplusl(deficStl 79,481 191.909 Interest Receivable and Investment Income 14,767 7,611 Net Interesl on Defined Benefit AsseVLiability 17 Gain on revalualion of investments {1,237) <5,774) Gain on revaluation of investment properties 24.995 Surplusl(deflclt) for the year 93,011 218.741 Remeasurement of Defined Benefit Liability 17 (80,000) 38,OQO Total Comprehenslve Income for the Year 13,011 £256,741 All incoming resources and resources expended derive from contlnuing activities. CONSOLIDATED STATEMENT OF CHANGES IN RESERVES Restrl¢ted Unrestrlcted Totsl Balance at 1st April 2023 1,413 2,085,263 2,086,676 Tolal Comprehensive Income 22,797 (9,786) 13,011 Transfers betsyeen funds Balance at 31st March 2024 24,210 2,075,477 2,099,687 The notes on pages 19 to 38 form part of these financial statements. 16 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2024 Notes 2024 2023 Fixed assets Housing property assets Other fixed assets Investment Properties Investments 7a 7b 191,001 49.403 939,995 110,414 122,170 43,550 939,995 105.8fj3 1,290,813 1,211,578 Current assets Debtors Cash at bank and in hand 10 511,290 1,200.387 S24,721 1,165,126 1,711,677 1,689,847 CredStors: amounts falling due within one year (902,803) (814,749) Net current assets 808,874 87S,098 Net assets excludlng penslon scheme Ilabllltles 2,099,687 2,086,676 Defined benefit pension scheme liability Net assetsllliabilities) Includlng penslon scheme 1Sabllitl68 £2,099,687 £2,086,676 Represented by; Restricled funds Unrestricted funds Pension reserve 14 15 15 24,210 2,075,477 1.413 2.085,263 Total Funds £2,099,687 £2,086,676 The financial statements have been prepared in accordance with the Special provisions in Part 15 of the Companies Act 2006 relating lo small companie¥, 24-Sep Approved bythe Board ofTrusteeson...................... .2024 and signed on its behalf by: j5.51)￿lI1+11 Clalre Arnold Dlrector Douglag Wlldey- Dlrector The notes on pages 19 to 38 form part of these financial statements. 17- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 COMPANY STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2024 Notes 2024 2023 Fixed assets Housing propety assets Other fixed assets Investment Properties Investments 7a 7b 191,001 49,403 939,995 110,515 122,170 43,550 939,995 105,964 1,?90,914 1,211,679 Current assets Debtors Cash at bank and in hand 10 545,457 971,139 600,973 1,017,953 1,516,596 1,618,92 Crodltors: amounts falling due within one year 11 (772,983) {775,001) Net current assets 743,613 843,925 Net assets oxcluding penslon scheme Ilabilities 2,034,527 2.055,604 Defined benefit pension scheme liability 17 Net assetsl(Ilabllltle8) Includlng penslon scheme Ilabilitles £2,034,527 £2,055,604 Represented by: Restricted funds Unrestricted funds Pension reserve 14 15 15 24,210 2,010,317 1,413 2,054,191 Total Funds £2,074,527 £2,055,604 The parent company's total comprehensive expenditure for the year amounted lo £121,077) {2023'. £235,869). The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating lo small companies. Approved by the Board of Trustees on.. 24-Sep 2024 and signed on its behalf by.. QuuiWlldwyjStrp?d 1414 J5..10￿14T*ll Claire Arnold - Director Douglas Wildey - Director The notes on pages 1910 38 form part of these financial statements. 18 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Net cash generated from Operating Activities 170,418 (77,S68> Cashflows from Investing a¢tlvities Purchase of Tangible Fixed Assets Purchase ol Fixed Asset Investments Proceeds from disposal of Tangible Fixed A$sets Interest Received (144,136) (101.751) 8,979 2,596 (135,157> {99,155) Net Change in Cash and Cash Equivalenl 35,261 (176,723} Cash and Cash Equivalent at beginning of the year 1,165,126 1,341,849 Cash and Cash Equivalent at end ol the year £1,200,387 £1,165,126 Cashflows from Operatlng Actlvltle8 Surplusl(Dgficit) for the Year Depreciation and losses on disposal {Increase)IDeerease in Debtors IncreasellDecrease) in Credilors Interest Receivable Nel Interesl on Defined Benefit Pension Pension CostslExpense Gains on revaluation 237,011 69,452 13.431 88,054 (14,7671 1144,000) (80,000) 1,237 218,741 61,581 (309,817) 34,759 (7,611) (56,000) (19,221) £170,418 £(77.568) Analysis of Change3 in net funds At 0110412023 Cash flows At 3110312024 Cash £1,165,126 £35,261 £1,200,387 19- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Accountlng pollcies (a) 8asls of preparation and assessment of going concern The accounts have been prepared under the historical cost convention with items r￿Ognised at cost or transaction v.alue unless othe￿1$e slated in the relevant notes to the accounts. They have been prepared in accordance with the Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 the Slatemenl of Recommended Praclice for Registered Social Housing Providers 2018 and the Accounting Direction for Private Registered Providèrs of Social Housing 2022. The Charitable Company constitutes a public benefit enlity as defined by FRS 102. The Board has reasonab18 expectation that the Charity has adequate resources to Gontinue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statemenls. The Board has considered the impact of Covid-19 on the short and long term health of the Charity, and is conlenl that the measures taken by the Charity, together with slrong reseNes and enhanced prospects due to Domestic Abuse Bill changes and the implementation ofthe government's new domestic abuse strategy, provides adequate forecasting and assurance that the going concern basis is appropriate in preparing the Financial Statements. The presentation currency in the financlal statement$ 1$ the pound sterling 1£). Ib) Cornpany status Safer Places is a charitable company limited by guarantee incorporaled In England and Wales. The members of the company are the truslees named on page 1. In the event of the charity being wound up, the liability in respecl of the guarantee is limited to £1 per member of the charity. 1¢) Group Flnan¢lal Stalement$ These financial statements consolidate the results of the Charitable Company and its wholly owned subsidiaries, Safer Properties Limited (087044151 and Safer Places Professional Training and Development C.l.C. (13524749>, on a line by line basis. A separate Statement ol Comprehensive Income has not been presented for the parent Charitable Company itself, having taken advantage of the exemption afforded by the Companies Act 2006. (d) Fund accounllng General funds are unreslricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated lor other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out In the notes to the financial statements. Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. -20- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (el Incomlng resources All income is recognised once the charity has entitlement lo the income, it is probable that the income will be received and the amount of income can be measured reliably. Income is deferred where.. The donor specifies that the grant must be used in the future accounting periods- or The donor has imposed conditions, which musl be met belore the charity haj unconditional entitlement, For legacies, entitlement is when the impending distribulion is probable. Grants have been included as income from charitable activities where these amount to a contract for services bul. as voluntary income where the money is given in response to an appeal or with greater freedom of use, for example monies for core fundlng. Gifts in kind donated for distribution are included at valuation and recognised as income when they are dislribLrted to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified, and a third party is bearing the cost. No amounts are included in the financial statements for service5 donated by volunteers, (fj Resources expended Liabilrties are recognised as expenditure as soon as there 15 a legal and constructive obligation ommitting the charity lo that expenditure, il is probable thal selllemenl will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly atlribuled to particular headings they have been allocated to activities on a basis consistent with the use of Ihe resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs ar8 those incurred in connection with administration of the ¢harity and ¢omplian¢e with constitutional and statutory requirements. (g) Tanglble flxed assets and depreclatlon rangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisilion. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straighl line basis over thelr expected useful economic lives as follows: Years Leasehold Refuge Improvements.. Fabric Roofs Krtchens Doors and Windows Bathrooms Boilers Refuge Equipment Leasehold Office Improvemenls Furniture and Equipment Motor Vehicles 40 40 20 30 25 15 3.33 6.67 20 20 20 20 21 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (hl Penslon costs The charitable company participales in a group defined benefit pension scheme providing benefits based on final pensionable pay. This is a funded scheme, and the assets are held separately from those of the charty in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rale equivalenl to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valualions are obtained at least Iriennially and are updated at each balance sheet date. The amounts charged lo operating surplus are the current service costs and gains and losses on settlements and curtailments together with any change in the net defined benefit liability arising from ernployee service. They are included as part of staff costs. Net interest on the defined benefit liability is shown as a cost in the statement of comprehensive income. The remeasurement of the defined benefil liability is also reported is the statement of comprehensive income, and is shown in more detail in Note 17 to Ihe Accounts. (11 Operating Leases Rentals under operating leases are charged on a straight-line basis over Ihe lease t8rm. ti) Investments Investment properties are measured at fair value al each reporting date with changes in fair value reco9ni5ed In the Statement of Comprehensive Income. Depreciation is not provided in respect of investment properties. Investments in subsidiaries are stated at cost less provision for impaimienl. The charitable company's investments are a form of basic financial inslrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the c105ing quoted market price. The Statement of Comprehensive Income includes the net gains and losses arising on the revaluations and disposals throughout the year, Realised gains and losses on investments are calculated as the difference be￿een Sales proceeds and their opening carrying value or their purchase value rf acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculated as the difference be￿een the fair value at the year end and their carrying value. (k) Debtors Trade and olher debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade dlscounls due. (l} 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 dale of acquisition or opening of the deposit or similar account. -22- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (m) Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligalion resulting from a past event thal will probably result in the transfer of funds 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 diseounts due. In) 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 al their settlement value with the exception of bank108ns which are subsequently measured at amortised cost using the effectlve interest method. lo) Signiflcant Management Judgements and Estlmation Uncertalnties The following are the critical judgements and key sources of estimatlon uncertainty that the Board has made in the process of applying the charity's accounting policies and thal have the most significant effect on the amounts recognised in the financial statements.. Fair value of Investment Properties Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Slalement of Comprehensive Income. The Trustees assess the lair Value of the investment properties based on recent market values. In determining Ihe fair value on this basis, the valuation remains sensitive to fluctuations in the property market. Identification of housing property components The charity accounts for its expenditure on housing properties using component accounting. Under component accounting, the housing property is divided into those major components which are considered lo have substantially different Useful economic lives. Judgement is used in allocating property costs between components (land, structure, kitchens, bathrooms etcl and in determining Ihe useful economic lives of each Component. Housing property deprgcialion 1$ calculated On a component by component basis. The identification of such components is a matter ofjudgement and may have a material impact on the depreciation charge. The components selected are those which reflect how the major repairs lo the property are managed. Useful lives ofdepreciable assats Management reviews its estimate of the useful lives of depreciable assels at each reporting date based on the expected utility of the assets. Uncertainties in these estimates relate to 'le¢hnological obsolescence, with regard to IT equipmenvsoftware and any changes to decenl homes standard requiring frequent replacement of components. The accumulated depreciation at 31 March 2024 was £200.333. Bad debt provision A full line by line review of trade debtors Is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimalely prove to be uncollectible. -23- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (ol Slgnlficant Management Judgements and Estimation Uncertainties Iconlinued) Defined Benefit Pension Scheme The Charity has an obligation lo pay pension benefits to certain employees. The cost of these benefils and the present value ol the obligation depend on a number of factors, including., life expectancy, assel valuations and the discount rate on corporate bonds. Management estimates these factors in determining the net pension asset in the balance sheet. The assumptions reflect historical experience and current trands. A liability of £Nil is recorded in the Statement of Financial Posrtion at 31 March 2024 for Ihe Essex Pension Fund. See note 17 for the disclosures relating to the defined benefit scheme. -24- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income - Group Unrestricted 2024 Restricted 2024 Total 2Q24 Total 2023 Donatlons and Legacles Donations Children In Need Other grant8 23,516 7,524 19.399 13,392 31,040 19,399 17,182 29,108 38,798 16,324 3,790 £27,306 £40.315 £67,621 £84,230 Charitable Aclivities: Refuge rents receivable Refuge service charges Supporting People Hertfordshire Hertfordshire Community Funding Tier 2 Housing Support PCC ISAC Service Advance EDASS Herts County Council Sunflower Ministry of Housing, CLG Training SeNices 956,023 65,888 1,752,344 956,023 85,888 1.752,344 344,829 47,945 85,359 47,947 504,000 1,OP4,719 69,572 1,661,822 293,251 35,060 106,622 49,953 290,'912 1,650 99,938 216,819 344,829 47,945 85.359 47,947 $04,000 241,902 241,902 £3,064,104 £982,133 £4,046,237 £3,830,318 Investment Properties Rents receivable £48,427 £48,427 £39,200 Tumover £3,139,837 £1,022,448 £4,162,295 £3,953,748 -25- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Qperatlng costs . Group Total 2024 Total 2023 Sorylces to vlctlms seeklng sUPPOrt Direcf costs Staff costs Professional fees Refuge rents and service charges Refuge running expenses Refuge depreciation Other operating expenses Bad debts 1,351.090 32,496 422,739 575,204 52,712 740,613 57,954 1,177,737 33,527 432,752 423.104 34,836 831,729 27,571 Support costs Staff costs Depreciation Insurance Legal and professional fees Audit fee Meeting expenses Other overhead expense8 488.274 16.740 36.515 30,936 19,200 546,546 26,745 28,906 34,336 10.510 228.841 167,449 4,053.314 3,775,748 Other actlv11189 Investment property management costs 29,490 7,657 Total operatlng costs £4,082,804 £3,783,405 Unrestricled Funds ReslTlCted Funds 3,083.153 999.651 2,905,873 877,532 £4,082.804 £3,783,405 -26- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aceommodatlon in management Social housing income and expenditure.. Rents receivable excluding service charges Service charges receivable Less.. Social housing operating costs 2024 2023 956,023 65,888 {1,200,714) 1,004,719 89,572 (1,231,791) Net surpluslldeficit) from social housing activities £(178,803) £{157,500) Vold losses £310,153 £185,176 Unlts 84 Unlts Supported houslng The RP manages properties on behalf of Swan, Catalyst. L&Q, Housing Associations, registered Social housing providers operating in Essex and Herts. Operating surplusldeficlt This is stated after charging.. Trustees. emoluments Auditor's remuneration (excluding VAT) Operating lease rentals- land and buildings Operating lease rentals - office equipment Depreclation of owned assets 2024 2023 17,033 443,633 1,263 69,452 13,865 433,029 6,664 61,581 Staff costs 2024 2023 Wages and salaries Social security costs Pension costs Termination payments 1,543,456 138,939 106.821 1,371,591 121,553 152.477 £1,789,216 £1,645,621 2024 No. 2023 No. The average weekly number of full-time equivalent employees during the year was". The average number of employees during the year was.. 50 59 48 54 There was one employees whose employee benefits fell in the banding £60,000 to £70,000, one in the bar)ding £70,00010 £80,000 an&one in the banding £100,000 to £110,000. The employee benefits for the Trustees and Key Management Personnel amounted to £318,463 (2023.. £319,286). Thè highest paid Director received remuneration (excluding pension conlributions) of £89,875 (2023.. £87,830) and is an ordinary member of the defined benefit pension scheme as disclosed in Note 17. Employee benefils comprise salaries, social security contributions and pension contributions. No trustee received remuneration for their role as a trustee during the year12023.' £nil}. -27- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7a Tanglble fixed assets- Houslng properties Group and Parent Leasehold Refuge Improvements Refug• Equipment Total Cosl.. At 1 April Additions Disposals At 31 March 80,617 102,749 125,416 18,794 206,033 121,543 183,366 144,210 327,576 DepreciatS0n: Al 1 April Charge for the Year Disposals At 31 March 20.531 25,228 63,332 27,484 83,863 52,712 45,759 90,816 136,575 Net Book Value 31 March 2023 £60,086 £62,084 £122.170 Net book Value 31 March 2024 £137,607 £53.394 £191,001 7b Other Fixed Assets Group and Parent Leasehold Offlce Improvement¥ Furniture and Equlpmonl Motor Vehlcles Total Cost: Al 1 April Additions Disposals Al 31 March 11,136 87,648 22,593 98,784 22,593 8.216 113,161 {8,216 2,920 110,241 Depreclatlon: At 1 April Charge for the Year Disposals At 31 March 10,006 1,130 (8,216 2,920 45,228 15,610 55,234 16,740 (8,216 63.758 60,838 Net book value 31 March 2023 £1,130 £42,420 £43,550 Net book value 31 March 2024 £49,403 £49,403 -28- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investmgnt properties Group an¢ Parent Inv6Stment Propertles Total At 1 April 2023 Change in fair value 939,995 939,995 At 31st March 2024 £939,995 £939,995 The investment properties have been valued by the Trustees at 31 March 2024 based on currenl market value which has been assessed on the basis of historic selling price$ of similar propertles in the location over the course of the financial year. Investments Group Invg•tm•nt In unlt tru8t Parent Inve8tm•nt In unlt trust Group Undortaklng• Total Totsl At l April 2023 Additions Unrealised losses 105.863 5,788 11.2371 105,863 5,788 11,2371 101 105,863 5,788 {1.2371 105,964 5,788 {1,237} At 31 March 2024 £110,414 £110.414 £101 £110.414 £110.515 Investments in group undertakings comprises 1009/0 ofthe ordinary share capital of Safer Properties Limited (company number.. 087044151 and Safer Places Professional Training and Development CIC (company number.. 13524749. The principal activities of the subsidiaries are property investment and the provision of training Courses, respectively, Summaries of Ihe trading resulls are shown below.. Safer Places Professlonal TraSnlng and Development c.i.c. Safer Propertles Lirnited 2024 2023 2024 2023 Turnover Costs of sales Gross prof it Adminislralive expenses Operating (loss}Iprofit Interest receivable Profit for the financial year 241,902 140 838 101,064 37,720 63,344 217,883 145 122 72,761 30,522 650 £31,172 £65,245 The aggregate capital and reseNes ofthe subsidiary companies at 31 March 2024 were.. Safer Properties Limited £Nil (2022: £Nil), and Safer Places Professional Trainin9 and Development c.i.c. £65,261, (2023.. £31,173). 29- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10 Debtors Group Parent 2024 2023 2024 2023 Social housing rent arrears Less provision for doubtful debts 128,516 (104,678) 120,702 (46,724) 128,516 (104,678) 120,702 146,724) 23,838 73,978 23,838 73.978 Trade deblors other debtors and accrued income Prepayments 408,862 15,465 63,125 383,458 4,927 62,358 331,681 128,794 61,144 327,896 138,189 60,910 £511,290 £524,721 £545,457 £600,973 Group Parent 11 Credltors: amounts falllng due wlthin one year 2024 2023 2024 2023 Social housing rent paid in advance Trade creditors Taxation & social security Accruals and deferred incom& Amounts owed to group undertakings Other creditors 62,836 148,370 47,267 613,493 48,627 41,594 44,037 679,261 62,836 141,758 25.980 511.522 48.627 39,425 27.831 566,497 91,391 1.230 30,887 1,230 30,887 £902,803 £814,749 £772,983 £775.001 12 Deferred Income Group Parent 2024 2023 2024 2023 Brought forward Released to income Deferred this year 584,154 (583,979) 473,496 542,298 (542,1231 583,979 478,743 (478,068) 377,248 443,888 (443,713) 478,068 £473,671 £584,154 £377,423 £478.243 30- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13 Analysls of net assets between funds Fund balances at 31 March 2024 Unrestrlcted Funds Restrlcted Funds Total 2024 Group Inveslmenls Tangible fixed asset5 Net current assets Pension liabilities 1,050,409 240,404 784,664 1,050,409 240,404 808,874 24,210 £2,075,477 £24,210 £2,099,687 Unrestrlcted Funds Restricted Funds Total 2024 Parent: Investments Tangible fixed assets Net current assets Pension liabilities 1,050,510 240,404 719,403 1,050,510 240,404 743,613 24.210 £2,010,317 £24,210 £2,034,527 Fund balances at 31 March 2023 Unrestricted Funds Restrlcted Funds Total 2023 Group Investments Tangible fixed assets Net Current assets Pension liabilities 1,045,858 165,720 873,685 1,045,858 165,720 875,098 1,413 £2.085,263 £1.413 £2,086,676 Unrestrictod Funds Restricted Funds Total 2023 Parent.. Investments Tangible fixed assets Nel 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 31 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 R•otrkted Fund•- ¢Ufr•nl year Group ind P4r•nt At l Apiw 2023 At JI M•r¢h 2024 Exp•ndltur• Cornmunlly Found•iion EOASS MOJ PCC- Hèrt5 HDusing IOVA Childr•n ITh N9*d N•tion81 Lottery Communlly Fund Pilqrirn's Tru81 S•1• H•¥•n Prol•¢l Qth•i Oort•llon• & Grants 489 344.829 504,000 85.359 47,945 19,399 1.423 11.959 7.524 1345.2901 <494.5001 185.3S91 133,2351 120,3431 11,4231 9,500 14,710 17.5241 E1,413 £1,022,448 El999,8511 £24.210 R••trkt•d Fund•- prlor y••r Gmup •nd P•r•nt Al 1 Aprfl 2022 Al 31 M•r¢h 2023 Incom• Exp•ndrt¥r• Camrnuftlty Found•tion EDASS MOJPCC-H•rti Chddr•n In Noed MHCLG- Ei••x DA Support Pi*rim's TruBI Saf• Hav•n Prol•¢t Olh•i Donalions & Grants 293,251 290.912 106.822 38.790 1292,782) 1280.9121 1106,6221 137,8541 199.gjal 114,3641 13S.0601 489 944 14.364 35,080 £878.945 £1877,5321 £1,413 .32. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 MOJ PCC - Herts Hertfordshire's Police and Crlme Commlssioner funding received from the Ministry of Justice to reinforce specialist provision for victims of domestic abuse and sexual violence across the county. Houslng IDVA Funding received for an Independent Domestic Abuse Advocate to provide support lo domestic abuse victims in temporary accommodation. National Lottery Community Fund Funding received from the National Lottery for the delivery of classes for confidence building and 9rowth. (Iv Chlldren In Need The Charity was awarded a multi-year grant from Children in Need during 2019120 to cover the costs of employing two Children's Workers for a three-year period. MHCLG These are funds received from the Ministry of Housing, Communities & Local Government which are reslricted to the provision of a Complex Needs Refuge and Independent stalking Advocacy Caseworker service. Ivl) Herts Communlty Foundatlon Funding received to enhance services provided in Hertfordshire. The fund is used to increase children's support staffing, the provision of the Complex needs refuge Hope House, and for the provision of resettlement support for those leaving refuge. EDASS Funding 1$ received for Essex Domestic Abuse Support Services and utilised for the support and education of those in Essex al medium risk of domestic abuse in order to recognise, recover from, and develop resilience againsl abuse. Iviii) Pilgrim's Trust Safe Haven Project This is a social welfare grant from the Pilgrim Trust to Support early action projects that improve the life chances of vulnerable women and girls. Ilx) Other Donations & Grants This consists of donations received at the Charity's refuges and is utilised on providing support aclivities to those housed in emergency accommodation. 33- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 UnM•tfl¢t•d Fund•. Group R•fuvbl•hm•nt Fund Sub Yotil G•n•r•l Pynd Tol•l Unr••trl¢t•d P•Th•lon R••• Fund Tot•1 Balgnc• broughl lorward 1 Apnl 2022 Sufplu$lldefkill l¢y th• year R•m•4iuremenl of dafln•d b•n•fh li•blllty Tr•n$fer b*￿t•￿ fundi 8slaft￿ carried Ir>Th4•rd 31 March 2023 750,000 175.000 925,000 998,935 217,328 1.923.935 217,328 194,0001 1,929.935 217.328 30.000 38.000 56.OOQ 186.DOOI £92S,000 £1,16a,263 156.0001 £2,085.283 £750,000 £175,000 E2,085.263 84lHnG• broughl l¢ThY•rd l Aprhl 202a Surplu￿1111*[1I for lh• y•4r R•rn88suiemonl ol dafin•d b•n•ftt Il•billty Trgniler be￿¢é0 funds 8al8n¢• ¢ard•d I•￿8T￿ 31 Mar¢h 2024 760,000 175,000 926,OQO J.180,28J 2.086,263 214,214 2,0OS.263 214.214 1224.0001 1224,0001 224,000 1224.0001 £2.075,477 É7SO,OOQ £175.000 £925.000 £2.075.477 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Unr••lrl¢t•d Fund•. P•r•fi¢ Ildlng Fufid R•f¥rbl•hm•nt Fund To¢•1 UnM•trl¢t•d P•n•lon Tot•1 Fund Tot•1 lonco br¢*ught l¢rnard 1 Aprl 2022 surplu￿14*1￿*1I for Ihé y••r R•m•••yr•m•rti of d•lln•d ben•lil Il•bS11ty Tr4n6l•r b•￿¢¢N fundi 8114n¢e c•rri•d loward 31 March 202J 750,000 175.OOQ 925,000 088.736 198,4S8 1.913.736 196,4S8 194.0001 7.819.735 1•6.456 Ji.000 30.000 06.000 156,0001 £1,129,191 156.0001 É2.0S4,191 È7SD,000 £175,000 £925,000 £2,051.191 B•l•n¢e brouqhl forwgrd 1 Aprd 2023 Su￿1￿￿(￿•1￿1) for Ihe yo•r R•meo$ur•menl ofdefln•d I>￿e￿I Ilablllty Tr4nsf*r befvrfe•n lunds B•lafi¢• CBrried lo￿ard 31 M*rch 2024 750,QOO 175.000 925,000 1.129.101 110,126 2.054.191 180,126 2.Q54.191 180,128 1274,DDDI {224.0001 224.000 1224.0001 £925,000 £1,083.317 1224,0001 £2.010.317 £750.000 £17S.000 £2.010.317 Bulldlng Fund Tttl$ fund l¥ to b• u¥•d f¢1 tyuming n¢w r8lugK on lond tr) h grft•d. R•lurbl•hm•nt Fund Th1• fund w•1 let up 10 cov•r lh• ¢o•t• ol F4•nn•d r•lurblihm•nl work on n•w •nd •xl•iing prop•rtl••. -35- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 Taxation The nature of the income received and the company's charitable activities means that no corporation tax liability arises on the resutts for the year. The subsidiary, Safer Places Professional Development and Training CIC Gift Aids its taxable profits to the company and as such no tax charge is recorded in accordance with FRS 102 paragraph 29.14A. 17 Deflned benefit penslon schemes Safer Places participates in a defined benefit pension scheme - Essex Pension Fund operaled by Essex County Council. At 31 March 2019, Safer Places had 11 active, 64 deferred pensioners and 19 pensioners in the fund. The Employer pays contributions of 24.5910 plus an addrtional monetary amount each year. The assets allocation of the fund is as follows.. 2024 £OOO's 2023 £OOO's Equities Gills Other Bonds Propety Cash Alternative Assets Other Managed Funds 5,092 164 55 4,684 113 363 656 270 15 1,268 18 846 1000A £8,200 57 634 227 1,397 1.677 £9,191 15 10 Demographic Assumptions include the following life expectancy from age 65 2024 2023 Retiring loday - Males Female8 20.8 23.3 21.1 23.5 Retiring in 20 years - Males Females 22.0 24.7 22,3 25.0 The Financial Assurnptions are as follows.. CPI Increases Salary Increase$ Pension Increases Discount Rate 2.900 3.90% 2.900/0 4.800 3.950/0 2.950 4.900/0 The pension cost and provision for the year ending 31 March 2024 are based on the advice ofa professionally qualified actuary. The most recent formal FRS102 valuation is dated 31 March 2024. The results of Ihese valuations are set out below. -36- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 Defined benefit penslon scheme (Contlnued) (a Statement of FinancSal Posltion as at 31 March 2024 2024 2023 2022 Present Value of Defined Benefit Obligation Fair Value of Fund Assets DeficiU(surplus) Impact of asset ceiling Net defined benefit liabililyl(assel) 5,334,000 19,191,000 13.875,000) 3,875,000 5,255.000 18,200,000} (2,945,000} 2,945,000 8,122,000 8,028,000} 94,000 £94.000 An asset ceiling has been recognised lo limit the defined benefit asset to £Nil. While it is possible under LGPS regulations for an employer to receive a refund of surplus, Safer Places is a minor participant in the scheme and does not have sufficient influence to reduce future contributions lo the scheme, (b) Amounts recognlsed In Income and Expenditure 2024 2023 Service Cosls Net Interest on defined liabililyl{assel) Exclude Net Interest above asset ceiling Administration Expenses 55,000 (144,0001 144,000 6,000 £61,000 106,000 4,000 £110,000 Remftasurements In Other Comprfrhenslve Income 2024 2023 Returns on Fund assets in excess of interest Changes in deinographic assumption5 Experience gains in deferred benefit obligations Change in financial assumptions Olher actuarial gainsl(lossesl on assets Changes in effect of asset ceiling Remeasurement of the net asselsl{defined liability) 615,000 71,000 {44,000> 46,000 (107,000) 125,000 (333,0001 3,224,000 74,000 {2,945.000 £38,000 768,000 £(80,000) (d) Reconciliation of Openin9 and Closing Balances of present Value of the defined benefit obligation 2024 2023 Opening defined benefit obligation Current Service Cost Interest Cost Changes in Demographic Assumptions Experienced Gains on Deferred Benefit Assumptions Change in Financial Assumptions Estimated Benefits Paid Contributions by Scheme Participants Closing defined benefit obligation 5,255,000 55,000 249,000 (71,000) 44,000 (46,000) {172,000) 20,000 £5,334,000 8,122,000 106,000 209,000 {125.0001 333,000 (3.224,000> (187,000) 21,000 £5,255,000 37- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 Deflned benefit penslon scheme (continued) Ie) Reconciliation of Opening and Closing Balance of Fair Value of Funds Assets 2024 2023 Opening Fair Value of Fixed Assets Interest on Assets Relurns on Assels less Interest Administration Expenses Corslribulions by Employer Contributions by Scheme Participants Estimated 8enefits Paid Closing Fair Value of Fund Assets 8.200,000 393,000 615,000 {6,000) 141,000 20,000 1172,000) £9,191,000 8,028,000 209,000 (107,000} 14.000) 166,000 21.000 {187.000) £8,200,000 Sensltivity Analysis £OOO's +0.1% 5,251 54 £OOO'$ O.O'/• 5.334 55 £OOO's Adjustment lo Dlscount Rate Present Value of Total Obligations Projected Service Costs 5,420 57 Adjustment to Long Term Salary Increase Present Value of Total Obligations PTojecled Service Costs +0.1• 5,338 55 o.op 5,334 55 -0.1trA 5,330 55 Adjustment to P8nslon Increase8 and deferred revaluatlon Present Value of Total Obligations Projected Service Costs O.OO/• 5,334 55 -0.1tyA 5,253 54 5,417 56 Adjustment to Llfe Expectancy Assumptlons Present Value of Total Obligations Projected Service Costs +1Year 5,529 None 5,334 55 -1 Y•ar 5,146 53 (gl Projected penslon exponse for the year to 31 March 2025 Service Cost Net Interest on defined benefit liabilityl{asset) Administration Expenses Total Lossl{Surplus) 55,000 (3,000) 6.000 £58,000 Employer Contribution £145,000 -38- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Related party transactions During the year the charity made purchases of Professional Services £11,865 (2023.. {£13,524} Irom D.Wildey, a truslee of the charity. No balance was due at the year end. No trustee received reimbursement of expenses12023'. no trustee received any reimbursernenl of expenses). Safer Places is the parent undertaking of Safer Places Professional Training and Development CIC, an unregistered body. Safer Places acts a5 paymaster for staff jointly employed by both entities and recharged staff costs amounting to £97.531. Safer Places charged SPPTDCIC a management fee of £14,898 and recharged £5.974 of expenses paid on that company's behalf. The allocation of slaff costs was calculated on the basis of lime spent by those employees on the activily of the subsidiary with no markup. In addition, Safer Places received a distribution under gift aid of £31,157 in the year. At the year &nd, £Nil wa$ owed by Safer Places to SPPTDCIC, Safer Places is the parent undertaklng of Safer Properties Limited, an unregislered body. There were no transactions with Safer Properties during the year. At the year-end £900 (2023.. £900) was owed by Safer Properties lo Safer Places. 19 Ultimat• control The charity is under no overall control but is administered by the trustees. 20 FSnancial commitments At 31 March 2024 the charity was committed lo making the following paymenls under nonwcancellable operating leases. Land and Buildin 2024 2023 Other Group Operatin9 leases which expire 2024 2023 Wrthin one year Between and five years In more than five years 414,103 194,143 15,768 413,710 225.655 55,664 14,280 22,411 35,139 42,462 £624,012 £695,029 £36,691 £77,601 Land and Buildin 2024 2023 Other Parent Operating leases which expire 2024 2023 Wrthin one year Between two and five years In more than five years 414,103 194,143 15,766 413,710 225,655 55,664 14,280 22,411 35,139 42.462 £624,012 £695,029 £36,691 £77,601 21 Capltal commilments At 31 March 2024 Safer Places had no capital commitments. -39- SaFerPlaces Donieslic Abuse Support Seivices SAFER PLACES ' (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity number 1018832 Company number 02789572 Regulator of Soclal Houslng numbor 4761 'ADC75413* 0111012024 COMPANIES HOUSE #106 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Legal and administration information Trustees annual report 2-12 Independent Auditors, report 13-15 Consolidated Statement of ¢omprehensive Income 16 Consolidated Statement of Changes in Reserves 16 Consolidated Statement of Financial Position 17 Company Statement of Financial Position 18 Consolidated Stetemenl of Cashflows 19 Notes to the Account5 20-39 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATION INFORMATION Charlty number 1018832 Company number 02789572 Governlng document The charitable company is governed by its memorandum and articles of association. Known a¥ Safer Places Registered office The Latton Bush Centre Southern Way Harlow Essex CM18 7BL Audltors Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Banker8 Lloyds Bank Billericay Commercial Centre Lloyds Commercial 89 High Street Billericay Essex CM12 9AT Trustees Douglas Wildey Gift Kapswara Lorraine Larman Sian Chambers Claire Arnold Kathy Osborne (resigned 22 December 2023) Sean Carroll (resigned 21 May 2024) Martina Talbot-Rice (appointed 28 February 2024) Tracy Fisher (appoinled 16 March 2024) Secretary Allison Gardner SAFER PLACES (A CQMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Stru ture Governance and Mana ement Th8 Board of Trustees present their report and financial slalements of Safer Places and its wholly owned subsidiaries, Safer Places Professional Training and Development C.l.C and Safer Properties Limited. Safer Places is a Registered Charity and a Company Limited by Guaranlee. The Charitable Company is also registered with the Regulator of Social Housing (Reg No 4761). Our governing documents are our Memorandum and Articles ofAssociation. Our Truslees are elected from our membership al our Annual General meeting. Our Trustees serve for a period ofthree years and then sland down or seek nomination and re-election. In line with good governance guidance Trustees do nol normally Serve for more than three terms. However, it was agreed that Douglas Wildey continue as a Trustee Since he brings a level of specialist expertise lo Ihe board which 1$ highly valued and would be difficult to replace. Our membership is open lo anyone who supports the objectives set out in our Memorandum of Association and such other per8ons a5 the Tru51ees sha15 admit to membership of the company. An application for membership may be approved or rejected by the Trustees. The Trust8es have the right for good and sufficient rea50n to terminate the membership of any member provided that the member concerned shall have the right to be heard before a final decision is made. We welcome nominations from organisations who are members of Safer Places. Safer Places has no prohibition on clients becoming Members or Trustees providing they are able to meel the eligibility requirements and fulfil the responsibilities of these roles. It is the policy of Safer Places to ensure that all Trustees are eligible and have sufficignl and appropriate skills lo serve. All members wishing to become Trustees undergo a compelency-based selection process and are required to complete a Declaration of Eligibility and a Declaration of Interests annually. Once appointed Trustees participate in an induction process which, includes induction to the company as well as to the role of Trustee, Ongoing training relevant to the role of Trustee is provided. tatement of trustees, r onslblllties The trustees (who are also directors of Safer Places for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom A¢¢ounling Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Iruslees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Group and charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Group for that period. In preparing these financial statements, the Irustees are required lo.. select suilable accounting policies and then apply them consistently., obseNe the methods and principles in the Housing 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 slalements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Group and charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 In so far as the trustees are aware.. there is no relevant audit information of which the Group and charitable company's auditor is unaware; and the trustees have taken all steps that they ought to have taken to make themselves awaro of any relevant audit information and lo establish that the auditor is aware of that infomialion. Our Trustees are also responsible for the following.. Setting the strategic direction of Safer Places, ensuring that it 1$ solvent, well run and meeting the needs for which it was established. Ensuring Safer Places complies with company and Charity requirements, Ensuring that Safer Places does not breach the rules set out in its governing documents and remains true to ils charitable purpose. Making sure Safer Places complies with all requirements of other legislation, which govem the activities of the company. Preventing the misuse of company funds or assets. Ensuring thal company funds and assets are used reasonably and only in the furtherance of the Company's objectives. Avoiding any aclivity that might place the company's assets or reputation at undue risk. Taking special care in investing the company's funds or borrowing funds on behalf of the company. Using their personal skills and experience to ensure the company is well run and efficient. Considering getting e*(ernal professional advice on all matters where there may be material risk to the company or where Trustees may be in breach of Ihelr duties. Day to day management of Safer Places is delegated to Ihe Chief Executive who reports directly to tha Board of Trustees. The Board of Trustees meets at least five limes per year. staff attend Board Meetings and advise on all matters but do nol vote. Statement on the re istered socla housln rovlder's Intern I control s stems The Board takes an active interest in all internal control and corporate governance matters, and aims lo meet the highest standards. The Board accept5 the principles in the National Housing Federation Code of Governance, which go well beyond internal financial control. This statement is confined to internal financial control. Internal financial control means the controls established in order to provide reasonable assurance ol.. the safeguarding of assets against unauthorised use or dispositions- and the maintenance of proper accounting records and the reliability of financial infomiation used wlth the company or for publication Statement The Board acknowledges its primary responsibility for the company's system of inlernal financial control, fof safeguarding the assets of th8 company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Board places considerable importance on maintaining a strong control environment. However, such a syslem can only provide reasonable and never absolute assurance against material misstalement or loss. The Board has established, and intends to continue development of, key procedures designed to provide effective internal financial control. These are the high-level procedures and processes by which the Board reviews the effectiveness of the system of internal financial conlrol. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 The company's internal financial control and monitoring procedures include: clear responslbilities on the part of line and financial management for the maintenance of good financial controls and the production of accurate and timely financial management information the control of key financial risks through clearly laid down authorisation levels and proper segregation of duties detailed monthly budgeting and reporting of income and expenditure, with regular review by management of variances from budgets reporting on compliance with financial controls and procedure {for the year end) by external auditors. These reports are reviewed by the Finance and the Board prior to Ihe use of interim and annual reports. Code of Gov•rnanee and Governance and Flnanclal Vlabllit Stan ar Safer Places has adopled the Charity Governance Code as it best reflects the objectives and aims of the organisalion as a registered charily. The Board undertake a 5-year external audit against the Charity Code of Governance and review the compliance internally on an annual basis. We Can report that there are no outstanding actions or non-compliance against the code and the outcome of the prior audit was that the auditor considered the charity to be well governed. The Board confimis Safer Places is compliant with the Governance and Financial Viability Standard. and Actlvltle The objecllves of Safer Places are.. ' The Charity is establlshed to relleve distress and sufferlng amongst people living wlth or fleelng fmm, orat rlsk of, Domestic Abuse, Including stalklng and harassment,. to pmvlde educatlon lor their future beneflt,. to educate those who work with victlms of domestic vlolence and to provide Soclal housln for those sufferin fleeln or at risk of domestlc vlolence stalkln and harassmenL" Vlsion, MissSon and Values Vision Safer Places vision is a society where everyone lives a life free from fear and abuse. Mlsslon Safer Places exists to drive down the incidence and impact of domestic and sexual abuse and to support those who use our services in their journey to recovery, resilience and independence, Values These are the values we promise to uphold so we never lose sight of our mission: Client Led - We empower our clients to exercise choice and control of their support. We ensure client's voices are heard and that they impact our decision making and shape our services Accessible We work inclusively with our ¢lients, partners and communilies, Anyone who is at risk of experiencing abuse can access our services when, how and where they need them. Respectful We adopt a trauma informed, holislic approach to support. We listen and believe. are non- judgemental and open and honest about what we can and cannot do. Effecllve We deliver high quality services that work for our clients. Our practice is informed by our clients, research, evidence and learning from experts by experience. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Revlew of 202 124 We have had a very busy year providing a range of services across Essex and Hertfordshire in¢luding community outreach, safe accommodation, Iherapeulic seNices, a range of support options including our Triple R programme, children's support service and support for victims with insecure immigration & No Recourse to Public Funds INRPFI. We support anyone, regardless of gender identity, sexualrty, age, race, ethnicity, religion or disability. This year we excitedly started wotking on our new strale9ic plan and we have been very busy making good progress against this. 1- We will review how we spend our money to ensure best value We invested in a new system for Health and Safety and Compliance We undertook a full review of facilities We implemented a new Risk Register with supplier control Fixed cost and overhead allocations have been re-worked lo increaso visibilrty of per contract costs We expect a further reduction in printing Costs as a result of approximately £1.500 per annum. We saved £16,000 through efficiencies IT & systems cost review is complete and pending complele works should realise a cost saving per annum of approximately £3k Future plans We will.. Develop a of more comprehensive cost review programme in relation to facilrties expenditure to better manage refuge supplies and stock Streamline the assessment and admission process for all our services Update the due diligence framework for new property acquisitions to reduce costs e.g. single unit allocations to allow clients to directly pay utilities Review processes related lo resettlement properties lo enable longer tenancies and therefore better financially support the estateslfacilitie8 Cost base 2 - Deliver a gold standard trauma informed. evidence based, inclusive service that meets individual needs Safer Places received the "Gems of Harlow" award for outstanding acts of community service. The event, hosted by Harlow Council at the Civic Centre, on Tuesday 15th August, celebrated the achievements of local charilies making a difference in the communty. We undertook an Adult Needs Assessment and Children's Needs Assessment in our safe accommodallon. We are redeveloping our service model as a result of the learning from the Refuge needs assessment which indicates the diversity wrthin our caseloads and that clients tend to fall into three main groups requiring different levels and types of service based on needs and circumstances. We worked with BralnKind on a research project. We reviewed the recommendations and developed an implementation plan from impact research on.. migrant women, Irans clients experiencing domestic abuse how we can attract a more diverse workforce. Future plans We will.. Work to gain WAFE accreditation Review our Equity, Equality, Diversity and Inclusion offer Undertake more needs assessments to determine if we are meeting the diverse needs of our clients Implement our new tiered service model Implement the recommendalions from the Impact research SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 3 - Support the Community Interests Training Company to generate income to provide added value to our frontline services, enhance the reputation and reach of bolh organisations The C.l.C was fomed in July 2021. At this slage we offered 3 qualifications (IDVA, ISVA & ISAS) and offered a small range of short courses which were not CPD accredited. The team now has 5 members. Our portfolio currently consists of 8 qualifications 12 CPD accredited short courses A bank of 15 webinars to offer blle-size learning opportuniti6s to professionals on speclalist topics We have doubled the number of IDVA cohorts run per year, our most popular and profitable course. Two of our qualifications are bespoke and we are the sole provider of Level 3 Children's Advocate and Level 4 Independent Stalking Advocacy Specialist We have responded to the changes in the Domeslic Abuse Act 2021 lo offer a bespoke chlldren's qualification lo support children as victims of domestic abuse in their own right, Safer Places staff have achieved 74 qualifications internally. Future plans We will. Continue lo grow and develop our team and our training portfolio Develop Safe Accommodation standards in conlunction with Safer Places ID offer Level 4 Sale Accommodation for Managers qualification Launch new training for family courts Considerlengage with market outside of the UK 4 - Recruit, retain, develop and support staff to deliver excellent services Safer Places is an organisation committed to supporting and developing our workforce. We completed an annual review of pay and condition5 and made recommendations to the 8oard As of 31st March there were 65 members of staff compared lo 60 staff in the previous year (April 2023). staff turnover was 1.59Q/o, The same period last year (April 2023) was 1.79Q/o. Safer Places was shortlisled for the Investors in People 2023 award 'UK Employer of the Year.. The award is given to organisations who prioritise the health and wellbeing of their staff and are committed lo better working practices within their organisation. Feedback included.. People felt exceptionally well invested in. There is a highly collaborative and mutually supportive team,. this continuously demonstrated and proactively engendered by the approaches of leaders. People feel empowered and trusted, and said they had been able to progress fvrther than they may have Inilially believed they could. Leadership strategies had not only impacted on outcomes for sen4ice users but also those who work for or ne￿Ork with Safer Places. Future plans We will.. Further invest in the development of fvtvre senior leadership roles Publish and promote our current benefits lo ensure staff continue to be aware of them and use them and improve benefit package for staff Ensure Senior Practitioners have more targeted development plans e.9. around preparing for meeting5 with and influencing partner agencies and groups, report writing etc., through Shadowing and coaching as well as training Invest in more targeted recruitment Improve application of Ihe supérvision and appraisal process allowing better identification of 51aff ready for development and then putting training and coaching plans in place for them SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 5 - Ensuring the estates portfolio is fit for purpose for current and future demands We opened.. Alex House- providing a much-needed safe accommodation for any male survivor who needs us named after a local male Khushi House a specialist Asian women's refuge named by suNivors after a universal word for happiness safe accommodation and specialist support for women with alcohol or drug use in partnership with DrugLink. We have been working hard to bring all our accommodation up to a high standard wrth a programme of planned maintenance We commissioned a chartered surveyor to provide a regular condition surveys on each property providing costed and prioritised recommendation5 for each and working with us on the development of our estates strategy Future plans We will Look at the configuration of the properties we have Look to acquire a further 10 units which could be used for resettlement Extend T with an additional 4 unit$ Develop a plan for refurbishmenl of our safe accommodation As can be seen we have ambitious plans to further develop a plan lo ensure thal our safe accommodalion 1$ suitable la meet the ever-changing needs that we are fsced wrth. We are excited see what the year ahead holds. Our Beneficlarles and Publlc Beneflt Statemen The Trustees are aware and mindful of the Charities Commission guidance, Safer Places has dellvered public benefil in line with the objects and activities of the organisation through the delivery of our core servlces. Ovar the last year Safer Places has delivered Public Benefil in line with the objects of the charity in the following ways.. To relieve dlstress and suff•rlng amongst people Ilvlng wlth or fleelng from domestlc abuse Includlng stalking and harassment We received a total of 3809 referrals for support over the financial year. ation ccom Al Our safe accommodation seNice supported a total of 677 individuals. 266 women, 16 men, 1 non-binary individual and 394 children across our safe accommodation. Outre ch Hertfordshire Our outreach service in Hertfordshire supported 1027 women, 66 men, 1 non-binary person and 613 children, Stalkin Service Our specialist stalking support service supported 434 adults and 363 children. The average time before seeking help was 16 months. 64 % of the cases closed reported feeling safer on exit 580/0 reported improved quality of life course to Public Fun Our specialist IDVA who works with victims who have no recourse to public funds which is paid for by The Pilgrims Trust supported 26 adults with 25 children. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Trlple R We continued to run our psychoeducalional CBT based RRR Domestic Abuse group program. This is a 12- week program in four modules which covers Risk, Recovery and Resilience and Impact on Children. Participants can undertake all four modules or select a specific module this programme can be adapted to personal circumstances and the needs of participants and is delivered through in-person and online sessions for thgse we are supporting. Participants have found the group invaluable in their recovery.. "This group has opened my eyes and changed my life in a posrtive way. I can talk freely without being judged and continue lo learn new things as I heal and understand the past." .1 feel that this programme has some form of magic in it. The whole thing has been so empowering, and my recovery is momentous. I had been crying every day and feeling hopeless. l am now much better and feel posilive about who l am and whatever I decide to do.. I can do it." "I feel so much stronger, braver and that l am starting to re-find myself again. I feel like l am gaining control over my life a little at a time. There have been weeks where Ihe only thin9 that has gol me through it knowing I had Triple R. Thanks to Triple R I feel like l am starting to get back to who l used to be before my abusive relalionship." Chlldren Since the change in the law in 2021, children are automatically classed as victims (in their own right) if they have seen, heard or experienced domestic abuse. Children who stay with us with their parent receive a warm welcome and are mel with a buddy bag welcome pack that contains age-appropriate toys. Children will be able to access age-appropriate group therapies such as drawing, drama. play or Lego therapy and will receive access to one-to one therapies that are age appropriate and child centred. Over the year we have celebrated many special occasions, such as a birthdays and religious celebrations. Individual support plans are developed and regularly reviewed for the children and if any support is required with regards to special educational needs, health needs, disabilities. School applications or any other external agencies. our children and famlty team help to put things in place. Conference We held a conference 'Crealing a Safer Place for Survivors of Domestic Abuse,, on Ihe 8th March lo coincide with International Women's Day. The keynote speaker at the conference was researcher Stephanie Bechelet, from the organisalion Brainkind who support people living with acquired brain injuries and olher neurological condilions in the UK. This year Brainkind released groundbreaking research-'Too Many To Count,. which, with the help of Safer Places and other domestic abuse charities. explored the prevalence and effect of brain injuries on abuse viclims, finding that half of all domestic abuse Survivors may be living with a brain injury. Tralnlng Our Communrty Interest Company, Safer Placés Professional Developmant and Training CIC. ISPPDTCIC) has gone from strength to strength. The organisation is a wholly owned subsidiary of Safer Places with all profit deployed to enhance the direct client services to beneficiarie5 of Safer Places services. The impact of training has been felt wrthin the organisation bul also outside of the organisation as well. Approx 1900 delegates attended our webinars, we pride ourselve$ on our cutting edge range ol lopics including.. DA & pets, Stalking & young people, DA & the deaf community, DA & Mental health, DA & the LGBTQ+ community. DA & Neurodiversity, HBA, Children as victims, DA & suicide, Males victims of DA, DA & the transgender community, Clare's Law - 10 Year Anniversary, Sexism and Misogyny, Sexual Harassment, Online Abuse, VAWG Workshop. 212 delegates attended one of our short courses including 525 people attended our J9 Disclosure Training Sessions 1550 students attended our Healthy Relationships Sessions 205 qualifications were awarded from our accredited programmes We are so proud of what the CIC has achieved over the year and the feedback we have received really just says it all.. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 °Firstly, I wanled to say a huge thank you for ¢elivering the Level 3 IDVA course. I thoroughly enjoyed the course and the support and knowledge you shared was fabulous. It is a life changing course in so many ways, for viclims and for professionals. It definitely has changed my life. I have now secured an IDVA role". .1 just wanted to say a big thank you after receiving the marks and feedback for the ISVA workbook. Thank you for an amazing opportunity and a truly engaging and amazing training course" °After this I then completed the ISVA course and now have Ihe confidence and knowledge Ihat I need to pursue my dream job.. 'Next month I start my new job as a Health IDVA in a hospital.. 'Thank you Safer Places for changing my life.. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Value for Money (VFM) Each year the Charity used a range of data to measure VFM progress against the housing sector. The results help influence investment decisions and provide the regulators and other stakeholders wilh information on the progress of Ihe Charity. whilst also ensuring compliance wilh the regulatory VFM standard. The charity has measured itself against the Acuity smaller providers 2022123 results (median figures, for Cost Per Unit the Supported Housing result has been used due to being more comparable to Safer Places). Metric 2024 2023 Sector Score Commenta Reinvestment 63.63% Safer Places holds its housing stock on operating leases. Fixed assets represent Ihe value of Improvements carried out and, additions therefore represent a grealer proportion of book value. New supply Q/0 {social) O.OOYts O.OOO/• 0.000 Safer Places has not developed any new properties during the year. New suppty OA non-social O.00(/** O.OOQA 0,00% Gearing 1508.4)•A (758.4>0/0 Safer Places has no borrowings. EBITDA MRI NIA Safer Places does not have any borrowin95. The interest charge on the SOCI represents nel interest on the pension deficit, which was nil for 2024. Social Housing Cost Per Unit £14,372 £14,813 £5,395 The nature of Safer Places, properties and the associaled services provided means Ihal there is a significantly higher cost base. Operating Margin (50cial housing) (17.50)0/0 {14.6610/0 The nature of Safer Places, properties means there is high resident tumover causing loss of rent through vacancies. Safer Places has seen reductions lo Ihe amount of Housing Benefit chargeable for clients due lo local authority adjuslmenls lo service charge allowances. putting further pressuie on margins. Operating Margin (overall) Return on Caprtal Employed 0.79Q/o 7.82Q/• 1.88. Whilst the lease-based housing provision means Safer Places has lower lev81 of capital employed, the nature of ils income streams and activities means it generates a lower return than organisalions providing solely housing, 10- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Resenies ollc It is the policy of the board to provide sufficient reserves to- Ensure continuity of provision for a limited period in the evenl of a large variation in income in order that further inGome can be sourced or a reduction in service planned and implemented so as to minimise risk lo our clients. Pay the annual sums associated with reducing the deficit for which we are responsible related to oyr membership of the Local Government Pension Scheme. Provide a refurbishmentfund so thal we can sustain our continuous planned upgrade and refurbishment progrgmme. Reserves will therefore be he 1. Working Capital with sufficient unrestricted funds to contlnue operating at current setvice level for a period of three months 2. Refurbishmenl lo undertake a rolllng programme to sustain Ihe quality of our occommodalion and services. 3. Propety acquisition- the Trustees are currently reviewing refuge requirements across operational areas and are considering investment lo improve provision of services in key areas. rl nd Uncertal The major risks facing Safer Places are.. In light of the continued uncertain economrc conditions. increased costs related to utilities and the supply chain caused by increased fuel costs are a principal risk to Safer Places. 2. Like many charities, in the mid to long term the organisalion must also face the challenge of ensuring adequate funds are available to meet the obligallons of ils defined benefit penslon scheme. We continue to hold assets necessary to manage the fund however the pension obligations remain volatile. The economic conditions again prove challenging not just for the Charity bul for the client base and we continue lo take action to support clients on financial matters as well. 3. To sustain and enhance income related to the training subsidiary in order to provide enhanced services to the stakeholders. The year reflects thal the provision of trainin9 has proved a successful venture to date. Safer Places Investment Polic It is the policy of Safer Places lo achieve the besl possible return on investment and therefore properties were purchased in 2012. The rental return on these properties far exceeds any rate that could be achieved urrently through the financial institutions. Cash funds on reserve will be placed on fixed term deposits according to besl rates al the time and the need for funds to be available. 11 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES ANNUAL REPORT TOGETHER WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2024 Revlew of Flnanclal osition Safer Places, conlinued strategy to diversify income and provide fully funded frontline services has resulted in a sustained operating surplus for the group of £79k (2023.. surplus 192k), and taking into account investment returns and financing costs achieved a group surplus for the year of £93k (2023.. surplus £219k) which will be re-invested lo services in the coming financial period to ensure we continue to meet the changing needs of our client base. Social housing income remained relatively constanl showin9 8 slight decrease from 2023 due to adjustments in the types & quantity of unils provided £1.021,911 (2023.. £1,074,291). The cash position of the group has increased by £35,261, due to the surplus for the year net of fixed asset additions. The group and parent charity therefore maintained sufficient cash balances to fulfil its reserves policy at the year end. Investment Properties were determined to be held at fair value and rental income from thg properties a150 remains relatively stable. oin The Board has reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements. The Trustees agreed lo focus on diversfying in¢ome streams and in 202112022 5elup a trading subsidiary to deliver high quality training services within the domestic abuse which continues in 202312024 to realise a significant profit. The organisation continues to operate with 6 months operating costs in reserve and has a strong cash balance. We therefore consider thal the future prospecls for funding lo continue to be encouraging and that we are well placed lo secure additional income. Audltors The Auditors, Knox Cropper LLP, have indicated thal they are willing to be re-appointed at the forthcoming Annual General Meeting. The financial statements have been prepared in accordance wlth the special provisions in Part 15 of the Companies Act 2006 relating to Small companles. By Order of the Board Clalre Arnold CliilvéArf*oW1SeD P.024 LS..37GM1'4 Ji Chair of Trustees Date.. 24-Sep 2024 12 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Safer Places (the'parent charitable company,) and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of comprehensive income, the consolidated statement of changes in reserves, the consolidated and company statement of financial positions, 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 applicable law and United Kingdom Accounting Standards, including Financial Reporting standard 1.02 The Financial Reporting Slandard Applicable in the UK and Republic ol Ireland (Unrted Kingdorn Generally Accepted Accounting Practice). In our opinion, the financial statement8: give a true and fair view of the stale of the group's and of the parent charitable company's affairs as at 31 March 2024 and its incoming resources and application of resources for Ihe year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006, Ihe Housing and Reger)eration Act 2008 and Ihe Accounting Direction for Private Registered Providers of S¢xial Housing 2022. Basls for opinion We conducted our audit in accordance with International Standards on Audlling (UK) IISAS (UK)> and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audil of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requiremenls that are relevant to our audit ol 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 evldence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relatlng to golng concorn In auditing the financial statements, we have concluded that the trustees, use of the going Concern basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed. we have nol identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the charity's ability to continue as going concern for a period of at least ￿e1Ve months from when the financial statement$ are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goin9 concern are described in the relevant sections of this report. Other informatlon The other information comprises the informalion included in the annual report, other than the financial statements and our auditor's report th8reon. The truslees are responsible for the other infomiation. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read Ihe other infomialion and, in doing so, consider whether the other information is materially inconsistent with the financial stalements or our knowledge obtained in the audit or othernise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo 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 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 13- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Oplnlons on other matter5 prescrlbed by the Companles Act 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 wrthin the trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the Ilght ofthe knowledge and understanding of the group and parent charitable company and ils environment obtained in th& course of the audit, we have not identified material misstatemen15 in the directors, report included within the trustees, report. We have nothing to report in respect of th8 lollowing matters in relation to whi¢h the Companies Act 2006 requires us to report to you if, in our opinion.. adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audil have not been received from branches not visited by us., or the parent charitable company financial statements are not in a9reemenl with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the infomiation and explanations we require for OUT audit., or the trustees were not entitled lo prepare the financial slalements in accordance with 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. Responslbllltles of truste As explained more fully in the trustees. responsibilities stalement sel out on pages 2-3, the trustees (who are also th8 directors of the charilable company for Ihe purpose5 of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for such internal control as the trustees detemiine 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, Ihe trustees are responsible for assessing the group and parenl charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate tha company or lo cease operations, or have no realistic allernalive bul to do $0. Audltor's r•sponsibilltles for the audit of the flnanclal statements Our objectives are lo obtain reasonable assyrance about whether the financial statements as a whole are free from material misslatemenl, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol a guarantee Ihat an audit conducted in accordance with ISAS IUKI will always detect a material misstalement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo 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.. The charitable company Is required to comply with charity law and, based on our knowledge of ils activities, we identrfied that the legal requirernent to accurately account for restricted funds was of key significance. We gained an understanding of how Ihe charitable company complied with ils legal and regulatory framework, including the requirement to properly account for restricted funds, through discussrons with management and a review of the documented policies. procedures, and controls. 14- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAFER PLACES FOR THE YEAR ENDED 31 MARCH 2024 Audltor's responslbllltle8 for the audlt of the financlal statements (contlnued) Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. We also obtained an understanding of the legal and regulatory frameworks that are applicable to Safer Places and determined thai the most significant are the Financlal Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice), the Companies Act 2006, the Housing and Regeneration Act 2008, and the regulatory standards issued by the Regulator of Social Housing. We understood how the Association is complying with those frameworks vla communication with those charged with governance. together with the review of the Associalion's documented policies and procedures. We assessed the susceptibility of the Group's financial statements to malerial misstatement, including how fraud might occur by considering the key risks impacting the financial statements. These included risks associated with revenue recognition, application of accounting estimate, and management override of controls, which were discussed and agreed by the audit team. Our approach included agreeing the recognition of income to the terms of tenancy agreements, grant agreements and contracts, reviewing the assumptions used and controls applied in the calculation of accounting estimates, the review of journal entries processed in the accounting records and the investigation of significant and unusual transactions identified from our review of the accounting records. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of the reporling to the board members with respect to the application of the documented policies and procedures and review of the financial statements to ensure compliance with the reporting requirements of the Group. There 8re inherent limitation5 in the audit procedures described above and, the further removed non-compli8nce with laws and regulaiions is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misslatemenl 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 descflption of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or uklauditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solety to the chariiable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act2006. Our auditwork has been undertaken, so thatwe might state to the charitable company's members those matters we are required to state to Ihem in an auditor's 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 Ihe charitable company's members as a body. for our audit work, for this report or for the opinions we have formed. James Holland-Leader FCA (Senior Statutory Auditor) For and on behalf of Knox Cropper LLP, Statutory Auditor 65 Leadenhall Street London EC3A 2AD 2024 15 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024 Not01 2024 2023 Turnovor 4,162,285 3,953,748 Less. Operating cost8 Other Income (4,082,804} (3,783,405) 21,566 Operatlng surplusl(deficStl 79,481 191.909 Interest Receivable and Investment Income 14,767 7,611 Net Interesl on Defined Benefit AsseVLiability 17 Gain on revalualion of investments {1,237) <5,774) Gain on revaluation of investment properties 24.995 Surplusl(deflclt) for the year 93,011 218.741 Remeasurement of Defined Benefit Liability 17 (80,000) 38,OQO Total Comprehenslve Income for the Year 13,011 £256,741 All incoming resources and resources expended derive from contlnuing activities. CONSOLIDATED STATEMENT OF CHANGES IN RESERVES Restrl¢ted Unrestrlcted Totsl Balance at 1st April 2023 1,413 2,085,263 2,086,676 Tolal Comprehensive Income 22,797 (9,786) 13,011 Transfers betsyeen funds Balance at 31st March 2024 24,210 2,075,477 2,099,687 The notes on pages 19 to 38 form part of these financial statements. 16 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2024 Notes 2024 2023 Fixed assets Housing property assets Other fixed assets Investment Properties Investments 7a 7b 191,001 49.403 939,995 110,414 122,170 43,550 939,995 105.8fj3 1,290,813 1,211,578 Current assets Debtors Cash at bank and in hand 10 511,290 1,200.387 S24,721 1,165,126 1,711,677 1,689,847 CredStors: amounts falling due within one year (902,803) (814,749) Net current assets 808,874 87S,098 Net assets excludlng penslon scheme Ilabllltles 2,099,687 2,086,676 Defined benefit pension scheme liability Net assetsllliabilities) Includlng penslon scheme 1Sabllitl68 £2,099,687 £2,086,676 Represented by; Restricled funds Unrestricted funds Pension reserve 14 15 15 24,210 2,075,477 1.413 2.085,263 Total Funds £2,099,687 £2,086,676 The financial statements have been prepared in accordance with the Special provisions in Part 15 of the Companies Act 2006 relating lo small companie¥, 24-Sep Approved bythe Board ofTrusteeson...................... .2024 and signed on its behalf by: j5.51)￿lI1+11 Clalre Arnold Dlrector Douglag Wlldey- Dlrector The notes on pages 19 to 38 form part of these financial statements. 17- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 COMPANY STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2024 Notes 2024 2023 Fixed assets Housing propety assets Other fixed assets Investment Properties Investments 7a 7b 191,001 49,403 939,995 110,515 122,170 43,550 939,995 105,964 1,?90,914 1,211,679 Current assets Debtors Cash at bank and in hand 10 545,457 971,139 600,973 1,017,953 1,516,596 1,618,92 Crodltors: amounts falling due within one year 11 (772,983) {775,001) Net current assets 743,613 843,925 Net assets oxcluding penslon scheme Ilabilities 2,034,527 2.055,604 Defined benefit pension scheme liability 17 Net assetsl(Ilabllltle8) Includlng penslon scheme Ilabilitles £2,034,527 £2,055,604 Represented by: Restricted funds Unrestricted funds Pension reserve 14 15 15 24,210 2,010,317 1,413 2,054,191 Total Funds £2,074,527 £2,055,604 The parent company's total comprehensive expenditure for the year amounted lo £121,077) {2023'. £235,869). The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating lo small companies. Approved by the Board of Trustees on.. 24-Sep 2024 and signed on its behalf by.. QuuiWlldwyjStrp?d 1414 J5..10￿14T*ll Claire Arnold - Director Douglas Wildey - Director The notes on pages 1910 38 form part of these financial statements. 18 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) COMPANY NUMBER: 02789572 CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Net cash generated from Operating Activities 170,418 (77,S68> Cashflows from Investing a¢tlvities Purchase of Tangible Fixed Assets Purchase ol Fixed Asset Investments Proceeds from disposal of Tangible Fixed A$sets Interest Received (144,136) (101.751) 8,979 2,596 (135,157> {99,155) Net Change in Cash and Cash Equivalenl 35,261 (176,723} Cash and Cash Equivalent at beginning of the year 1,165,126 1,341,849 Cash and Cash Equivalent at end ol the year £1,200,387 £1,165,126 Cashflows from Operatlng Actlvltle8 Surplusl(Dgficit) for the Year Depreciation and losses on disposal {Increase)IDeerease in Debtors IncreasellDecrease) in Credilors Interest Receivable Nel Interesl on Defined Benefit Pension Pension CostslExpense Gains on revaluation 237,011 69,452 13.431 88,054 (14,7671 1144,000) (80,000) 1,237 218,741 61,581 (309,817) 34,759 (7,611) (56,000) (19,221) £170,418 £(77.568) Analysis of Change3 in net funds At 0110412023 Cash flows At 3110312024 Cash £1,165,126 £35,261 £1,200,387 19- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 Accountlng pollcies (a) 8asls of preparation and assessment of going concern The accounts have been prepared under the historical cost convention with items r￿Ognised at cost or transaction v.alue unless othe￿1$e slated in the relevant notes to the accounts. They have been prepared in accordance with the Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 the Slatemenl of Recommended Praclice for Registered Social Housing Providers 2018 and the Accounting Direction for Private Registered Providèrs of Social Housing 2022. The Charitable Company constitutes a public benefit enlity as defined by FRS 102. The Board has reasonab18 expectation that the Charity has adequate resources to Gontinue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statemenls. The Board has considered the impact of Covid-19 on the short and long term health of the Charity, and is conlenl that the measures taken by the Charity, together with slrong reseNes and enhanced prospects due to Domestic Abuse Bill changes and the implementation ofthe government's new domestic abuse strategy, provides adequate forecasting and assurance that the going concern basis is appropriate in preparing the Financial Statements. The presentation currency in the financlal statement$ 1$ the pound sterling 1£). Ib) Cornpany status Safer Places is a charitable company limited by guarantee incorporaled In England and Wales. The members of the company are the truslees named on page 1. In the event of the charity being wound up, the liability in respecl of the guarantee is limited to £1 per member of the charity. 1¢) Group Flnan¢lal Stalement$ These financial statements consolidate the results of the Charitable Company and its wholly owned subsidiaries, Safer Properties Limited (087044151 and Safer Places Professional Training and Development C.l.C. (13524749>, on a line by line basis. A separate Statement ol Comprehensive Income has not been presented for the parent Charitable Company itself, having taken advantage of the exemption afforded by the Companies Act 2006. (d) Fund accounllng General funds are unreslricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated lor other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out In the notes to the financial statements. Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. -20- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (el Incomlng resources All income is recognised once the charity has entitlement lo the income, it is probable that the income will be received and the amount of income can be measured reliably. Income is deferred where.. The donor specifies that the grant must be used in the future accounting periods- or The donor has imposed conditions, which musl be met belore the charity haj unconditional entitlement, For legacies, entitlement is when the impending distribulion is probable. Grants have been included as income from charitable activities where these amount to a contract for services bul. as voluntary income where the money is given in response to an appeal or with greater freedom of use, for example monies for core fundlng. Gifts in kind donated for distribution are included at valuation and recognised as income when they are dislribLrted to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified, and a third party is bearing the cost. No amounts are included in the financial statements for service5 donated by volunteers, (fj Resources expended Liabilrties are recognised as expenditure as soon as there 15 a legal and constructive obligation ommitting the charity lo that expenditure, il is probable thal selllemenl will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly atlribuled to particular headings they have been allocated to activities on a basis consistent with the use of Ihe resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs ar8 those incurred in connection with administration of the ¢harity and ¢omplian¢e with constitutional and statutory requirements. (g) Tanglble flxed assets and depreclatlon rangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisilion. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straighl line basis over thelr expected useful economic lives as follows: Years Leasehold Refuge Improvements.. Fabric Roofs Krtchens Doors and Windows Bathrooms Boilers Refuge Equipment Leasehold Office Improvemenls Furniture and Equipment Motor Vehicles 40 40 20 30 25 15 3.33 6.67 20 20 20 20 21 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (hl Penslon costs The charitable company participales in a group defined benefit pension scheme providing benefits based on final pensionable pay. This is a funded scheme, and the assets are held separately from those of the charty in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rale equivalenl to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valualions are obtained at least Iriennially and are updated at each balance sheet date. The amounts charged lo operating surplus are the current service costs and gains and losses on settlements and curtailments together with any change in the net defined benefit liability arising from ernployee service. They are included as part of staff costs. Net interest on the defined benefit liability is shown as a cost in the statement of comprehensive income. The remeasurement of the defined benefil liability is also reported is the statement of comprehensive income, and is shown in more detail in Note 17 to Ihe Accounts. (11 Operating Leases Rentals under operating leases are charged on a straight-line basis over Ihe lease t8rm. ti) Investments Investment properties are measured at fair value al each reporting date with changes in fair value reco9ni5ed In the Statement of Comprehensive Income. Depreciation is not provided in respect of investment properties. Investments in subsidiaries are stated at cost less provision for impaimienl. The charitable company's investments are a form of basic financial inslrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the c105ing quoted market price. The Statement of Comprehensive Income includes the net gains and losses arising on the revaluations and disposals throughout the year, Realised gains and losses on investments are calculated as the difference be￿een Sales proceeds and their opening carrying value or their purchase value rf acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculated as the difference be￿een the fair value at the year end and their carrying value. (k) Debtors Trade and olher debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade dlscounls due. (l} 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 dale of acquisition or opening of the deposit or similar account. -22- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (m) Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligalion resulting from a past event thal will probably result in the transfer of funds 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 diseounts due. In) 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 al their settlement value with the exception of bank108ns which are subsequently measured at amortised cost using the effectlve interest method. lo) Signiflcant Management Judgements and Estlmation Uncertalnties The following are the critical judgements and key sources of estimatlon uncertainty that the Board has made in the process of applying the charity's accounting policies and thal have the most significant effect on the amounts recognised in the financial statements.. Fair value of Investment Properties Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Slalement of Comprehensive Income. The Trustees assess the lair Value of the investment properties based on recent market values. In determining Ihe fair value on this basis, the valuation remains sensitive to fluctuations in the property market. Identification of housing property components The charity accounts for its expenditure on housing properties using component accounting. Under component accounting, the housing property is divided into those major components which are considered lo have substantially different Useful economic lives. Judgement is used in allocating property costs between components (land, structure, kitchens, bathrooms etcl and in determining Ihe useful economic lives of each Component. Housing property deprgcialion 1$ calculated On a component by component basis. The identification of such components is a matter ofjudgement and may have a material impact on the depreciation charge. The components selected are those which reflect how the major repairs lo the property are managed. Useful lives ofdepreciable assats Management reviews its estimate of the useful lives of depreciable assels at each reporting date based on the expected utility of the assets. Uncertainties in these estimates relate to 'le¢hnological obsolescence, with regard to IT equipmenvsoftware and any changes to decenl homes standard requiring frequent replacement of components. The accumulated depreciation at 31 March 2024 was £200.333. Bad debt provision A full line by line review of trade debtors Is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimalely prove to be uncollectible. -23- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (ol Slgnlficant Management Judgements and Estimation Uncertainties Iconlinued) Defined Benefit Pension Scheme The Charity has an obligation lo pay pension benefits to certain employees. The cost of these benefils and the present value ol the obligation depend on a number of factors, including., life expectancy, assel valuations and the discount rate on corporate bonds. Management estimates these factors in determining the net pension asset in the balance sheet. The assumptions reflect historical experience and current trands. A liability of £Nil is recorded in the Statement of Financial Posrtion at 31 March 2024 for Ihe Essex Pension Fund. See note 17 for the disclosures relating to the defined benefit scheme. -24- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income - Group Unrestricted 2024 Restricted 2024 Total 2Q24 Total 2023 Donatlons and Legacles Donations Children In Need Other grant8 23,516 7,524 19.399 13,392 31,040 19,399 17,182 29,108 38,798 16,324 3,790 £27,306 £40.315 £67,621 £84,230 Charitable Aclivities: Refuge rents receivable Refuge service charges Supporting People Hertfordshire Hertfordshire Community Funding Tier 2 Housing Support PCC ISAC Service Advance EDASS Herts County Council Sunflower Ministry of Housing, CLG Training SeNices 956,023 65,888 1,752,344 956,023 85,888 1.752,344 344,829 47,945 85,359 47,947 504,000 1,OP4,719 69,572 1,661,822 293,251 35,060 106,622 49,953 290,'912 1,650 99,938 216,819 344,829 47,945 85.359 47,947 $04,000 241,902 241,902 £3,064,104 £982,133 £4,046,237 £3,830,318 Investment Properties Rents receivable £48,427 £48,427 £39,200 Tumover £3,139,837 £1,022,448 £4,162,295 £3,953,748 -25- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Qperatlng costs . Group Total 2024 Total 2023 Sorylces to vlctlms seeklng sUPPOrt Direcf costs Staff costs Professional fees Refuge rents and service charges Refuge running expenses Refuge depreciation Other operating expenses Bad debts 1,351.090 32,496 422,739 575,204 52,712 740,613 57,954 1,177,737 33,527 432,752 423.104 34,836 831,729 27,571 Support costs Staff costs Depreciation Insurance Legal and professional fees Audit fee Meeting expenses Other overhead expense8 488.274 16.740 36.515 30,936 19,200 546,546 26,745 28,906 34,336 10.510 228.841 167,449 4,053.314 3,775,748 Other actlv11189 Investment property management costs 29,490 7,657 Total operatlng costs £4,082,804 £3,783,405 Unrestricled Funds ReslTlCted Funds 3,083.153 999.651 2,905,873 877,532 £4,082.804 £3,783,405 -26- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aceommodatlon in management Social housing income and expenditure.. Rents receivable excluding service charges Service charges receivable Less.. Social housing operating costs 2024 2023 956,023 65,888 {1,200,714) 1,004,719 89,572 (1,231,791) Net surpluslldeficit) from social housing activities £(178,803) £{157,500) Vold losses £310,153 £185,176 Unlts 84 Unlts Supported houslng The RP manages properties on behalf of Swan, Catalyst. L&Q, Housing Associations, registered Social housing providers operating in Essex and Herts. Operating surplusldeficlt This is stated after charging.. Trustees. emoluments Auditor's remuneration (excluding VAT) Operating lease rentals- land and buildings Operating lease rentals - office equipment Depreclation of owned assets 2024 2023 17,033 443,633 1,263 69,452 13,865 433,029 6,664 61,581 Staff costs 2024 2023 Wages and salaries Social security costs Pension costs Termination payments 1,543,456 138,939 106.821 1,371,591 121,553 152.477 £1,789,216 £1,645,621 2024 No. 2023 No. The average weekly number of full-time equivalent employees during the year was". The average number of employees during the year was.. 50 59 48 54 There was one employees whose employee benefits fell in the banding £60,000 to £70,000, one in the bar)ding £70,00010 £80,000 an&one in the banding £100,000 to £110,000. The employee benefits for the Trustees and Key Management Personnel amounted to £318,463 (2023.. £319,286). Thè highest paid Director received remuneration (excluding pension conlributions) of £89,875 (2023.. £87,830) and is an ordinary member of the defined benefit pension scheme as disclosed in Note 17. Employee benefils comprise salaries, social security contributions and pension contributions. No trustee received remuneration for their role as a trustee during the year12023.' £nil}. -27- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7a Tanglble fixed assets- Houslng properties Group and Parent Leasehold Refuge Improvements Refug• Equipment Total Cosl.. At 1 April Additions Disposals At 31 March 80,617 102,749 125,416 18,794 206,033 121,543 183,366 144,210 327,576 DepreciatS0n: Al 1 April Charge for the Year Disposals At 31 March 20.531 25,228 63,332 27,484 83,863 52,712 45,759 90,816 136,575 Net Book Value 31 March 2023 £60,086 £62,084 £122.170 Net book Value 31 March 2024 £137,607 £53.394 £191,001 7b Other Fixed Assets Group and Parent Leasehold Offlce Improvement¥ Furniture and Equlpmonl Motor Vehlcles Total Cost: Al 1 April Additions Disposals Al 31 March 11,136 87,648 22,593 98,784 22,593 8.216 113,161 {8,216 2,920 110,241 Depreclatlon: At 1 April Charge for the Year Disposals At 31 March 10,006 1,130 (8,216 2,920 45,228 15,610 55,234 16,740 (8,216 63.758 60,838 Net book value 31 March 2023 £1,130 £42,420 £43,550 Net book value 31 March 2024 £49,403 £49,403 -28- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investmgnt properties Group an¢ Parent Inv6Stment Propertles Total At 1 April 2023 Change in fair value 939,995 939,995 At 31st March 2024 £939,995 £939,995 The investment properties have been valued by the Trustees at 31 March 2024 based on currenl market value which has been assessed on the basis of historic selling price$ of similar propertles in the location over the course of the financial year. Investments Group Invg•tm•nt In unlt tru8t Parent Inve8tm•nt In unlt trust Group Undortaklng• Total Totsl At l April 2023 Additions Unrealised losses 105.863 5,788 11.2371 105,863 5,788 11,2371 101 105,863 5,788 {1.2371 105,964 5,788 {1,237} At 31 March 2024 £110,414 £110.414 £101 £110.414 £110.515 Investments in group undertakings comprises 1009/0 ofthe ordinary share capital of Safer Properties Limited (company number.. 087044151 and Safer Places Professional Training and Development CIC (company number.. 13524749. The principal activities of the subsidiaries are property investment and the provision of training Courses, respectively, Summaries of Ihe trading resulls are shown below.. Safer Places Professlonal TraSnlng and Development c.i.c. Safer Propertles Lirnited 2024 2023 2024 2023 Turnover Costs of sales Gross prof it Adminislralive expenses Operating (loss}Iprofit Interest receivable Profit for the financial year 241,902 140 838 101,064 37,720 63,344 217,883 145 122 72,761 30,522 650 £31,172 £65,245 The aggregate capital and reseNes ofthe subsidiary companies at 31 March 2024 were.. Safer Properties Limited £Nil (2022: £Nil), and Safer Places Professional Trainin9 and Development c.i.c. £65,261, (2023.. £31,173). 29- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10 Debtors Group Parent 2024 2023 2024 2023 Social housing rent arrears Less provision for doubtful debts 128,516 (104,678) 120,702 (46,724) 128,516 (104,678) 120,702 146,724) 23,838 73,978 23,838 73.978 Trade deblors other debtors and accrued income Prepayments 408,862 15,465 63,125 383,458 4,927 62,358 331,681 128,794 61,144 327,896 138,189 60,910 £511,290 £524,721 £545,457 £600,973 Group Parent 11 Credltors: amounts falllng due wlthin one year 2024 2023 2024 2023 Social housing rent paid in advance Trade creditors Taxation & social security Accruals and deferred incom& Amounts owed to group undertakings Other creditors 62,836 148,370 47,267 613,493 48,627 41,594 44,037 679,261 62,836 141,758 25.980 511.522 48.627 39,425 27.831 566,497 91,391 1.230 30,887 1,230 30,887 £902,803 £814,749 £772,983 £775.001 12 Deferred Income Group Parent 2024 2023 2024 2023 Brought forward Released to income Deferred this year 584,154 (583,979) 473,496 542,298 (542,1231 583,979 478,743 (478,068) 377,248 443,888 (443,713) 478,068 £473,671 £584,154 £377,423 £478.243 30- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13 Analysls of net assets between funds Fund balances at 31 March 2024 Unrestrlcted Funds Restrlcted Funds Total 2024 Group Inveslmenls Tangible fixed asset5 Net current assets Pension liabilities 1,050,409 240,404 784,664 1,050,409 240,404 808,874 24,210 £2,075,477 £24,210 £2,099,687 Unrestrlcted Funds Restricted Funds Total 2024 Parent: Investments Tangible fixed assets Net current assets Pension liabilities 1,050,510 240,404 719,403 1,050,510 240,404 743,613 24.210 £2,010,317 £24,210 £2,034,527 Fund balances at 31 March 2023 Unrestricted Funds Restrlcted Funds Total 2023 Group Investments Tangible fixed assets Net Current assets Pension liabilities 1,045,858 165,720 873,685 1,045,858 165,720 875,098 1,413 £2.085,263 £1.413 £2,086,676 Unrestrictod Funds Restricted Funds Total 2023 Parent.. Investments Tangible fixed assets Nel 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 31 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 R•otrkted Fund•- ¢Ufr•nl year Group ind P4r•nt At l Apiw 2023 At JI M•r¢h 2024 Exp•ndltur• Cornmunlly Found•iion EOASS MOJ PCC- Hèrt5 HDusing IOVA Childr•n ITh N9*d N•tion81 Lottery Communlly Fund Pilqrirn's Tru81 S•1• H•¥•n Prol•¢l Qth•i Oort•llon• & Grants 489 344.829 504,000 85.359 47,945 19,399 1.423 11.959 7.524 1345.2901 <494.5001 185.3S91 133,2351 120,3431 11,4231 9,500 14,710 17.5241 E1,413 £1,022,448 El999,8511 £24.210 R••trkt•d Fund•- prlor y••r Gmup •nd P•r•nt Al 1 Aprfl 2022 Al 31 M•r¢h 2023 Incom• Exp•ndrt¥r• Camrnuftlty Found•tion EDASS MOJPCC-H•rti Chddr•n In Noed MHCLG- Ei••x DA Support Pi*rim's TruBI Saf• Hav•n Prol•¢t Olh•i Donalions & Grants 293,251 290.912 106.822 38.790 1292,782) 1280.9121 1106,6221 137,8541 199.gjal 114,3641 13S.0601 489 944 14.364 35,080 £878.945 £1877,5321 £1,413 .32. SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 MOJ PCC - Herts Hertfordshire's Police and Crlme Commlssioner funding received from the Ministry of Justice to reinforce specialist provision for victims of domestic abuse and sexual violence across the county. Houslng IDVA Funding received for an Independent Domestic Abuse Advocate to provide support lo domestic abuse victims in temporary accommodation. National Lottery Community Fund Funding received from the National Lottery for the delivery of classes for confidence building and 9rowth. (Iv Chlldren In Need The Charity was awarded a multi-year grant from Children in Need during 2019120 to cover the costs of employing two Children's Workers for a three-year period. MHCLG These are funds received from the Ministry of Housing, Communities & Local Government which are reslricted to the provision of a Complex Needs Refuge and Independent stalking Advocacy Caseworker service. Ivl) Herts Communlty Foundatlon Funding received to enhance services provided in Hertfordshire. The fund is used to increase children's support staffing, the provision of the Complex needs refuge Hope House, and for the provision of resettlement support for those leaving refuge. EDASS Funding 1$ received for Essex Domestic Abuse Support Services and utilised for the support and education of those in Essex al medium risk of domestic abuse in order to recognise, recover from, and develop resilience againsl abuse. Iviii) Pilgrim's Trust Safe Haven Project This is a social welfare grant from the Pilgrim Trust to Support early action projects that improve the life chances of vulnerable women and girls. Ilx) Other Donations & Grants This consists of donations received at the Charity's refuges and is utilised on providing support aclivities to those housed in emergency accommodation. 33- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 UnM•tfl¢t•d Fund•. Group R•fuvbl•hm•nt Fund Sub Yotil G•n•r•l Pynd Tol•l Unr••trl¢t•d P•Th•lon R••• Fund Tot•1 Balgnc• broughl lorward 1 Apnl 2022 Sufplu$lldefkill l¢y th• year R•m•4iuremenl of dafln•d b•n•fh li•blllty Tr•n$fer b*￿t•￿ fundi 8slaft￿ carried Ir>Th4•rd 31 March 2023 750,000 175.000 925,000 998,935 217,328 1.923.935 217,328 194,0001 1,929.935 217.328 30.000 38.000 56.OOQ 186.DOOI £92S,000 £1,16a,263 156.0001 £2,085.283 £750,000 £175,000 E2,085.263 84lHnG• broughl l¢ThY•rd l Aprhl 202a Surplu￿1111*[1I for lh• y•4r R•rn88suiemonl ol dafin•d b•n•ftt Il•billty Trgniler be￿¢é0 funds 8al8n¢• ¢ard•d I•￿8T￿ 31 Mar¢h 2024 760,000 175,000 926,OQO J.180,28J 2.086,263 214,214 2,0OS.263 214.214 1224.0001 1224,0001 224,000 1224.0001 £2.075,477 É7SO,OOQ £175.000 £925.000 £2.075.477 SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Unr••lrl¢t•d Fund•. P•r•fi¢ Ildlng Fufid R•f¥rbl•hm•nt Fund To¢•1 UnM•trl¢t•d P•n•lon Tot•1 Fund Tot•1 lonco br¢*ught l¢rnard 1 Aprl 2022 surplu￿14*1￿*1I for Ihé y••r R•m•••yr•m•rti of d•lln•d ben•lil Il•bS11ty Tr4n6l•r b•￿¢¢N fundi 8114n¢e c•rri•d loward 31 March 202J 750,000 175.OOQ 925,000 088.736 198,4S8 1.913.736 196,4S8 194.0001 7.819.735 1•6.456 Ji.000 30.000 06.000 156,0001 £1,129,191 156.0001 É2.0S4,191 È7SD,000 £175,000 £925,000 £2,051.191 B•l•n¢e brouqhl forwgrd 1 Aprd 2023 Su￿1￿￿(￿•1￿1) for Ihe yo•r R•meo$ur•menl ofdefln•d I>￿e￿I Ilablllty Tr4nsf*r befvrfe•n lunds B•lafi¢• CBrried lo￿ard 31 M*rch 2024 750,QOO 175.000 925,000 1.129.101 110,126 2.054.191 180,126 2.Q54.191 180,128 1274,DDDI {224.0001 224.000 1224.0001 £925,000 £1,083.317 1224,0001 £2.010.317 £750.000 £17S.000 £2.010.317 Bulldlng Fund Tttl$ fund l¥ to b• u¥•d f¢1 tyuming n¢w r8lugK on lond tr) h grft•d. R•lurbl•hm•nt Fund Th1• fund w•1 let up 10 cov•r lh• ¢o•t• ol F4•nn•d r•lurblihm•nl work on n•w •nd •xl•iing prop•rtl••. -35- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 Taxation The nature of the income received and the company's charitable activities means that no corporation tax liability arises on the resutts for the year. The subsidiary, Safer Places Professional Development and Training CIC Gift Aids its taxable profits to the company and as such no tax charge is recorded in accordance with FRS 102 paragraph 29.14A. 17 Deflned benefit penslon schemes Safer Places participates in a defined benefit pension scheme - Essex Pension Fund operaled by Essex County Council. At 31 March 2019, Safer Places had 11 active, 64 deferred pensioners and 19 pensioners in the fund. The Employer pays contributions of 24.5910 plus an addrtional monetary amount each year. The assets allocation of the fund is as follows.. 2024 £OOO's 2023 £OOO's Equities Gills Other Bonds Propety Cash Alternative Assets Other Managed Funds 5,092 164 55 4,684 113 363 656 270 15 1,268 18 846 1000A £8,200 57 634 227 1,397 1.677 £9,191 15 10 Demographic Assumptions include the following life expectancy from age 65 2024 2023 Retiring loday - Males Female8 20.8 23.3 21.1 23.5 Retiring in 20 years - Males Females 22.0 24.7 22,3 25.0 The Financial Assurnptions are as follows.. CPI Increases Salary Increase$ Pension Increases Discount Rate 2.900 3.90% 2.900/0 4.800 3.950/0 2.950 4.900/0 The pension cost and provision for the year ending 31 March 2024 are based on the advice ofa professionally qualified actuary. The most recent formal FRS102 valuation is dated 31 March 2024. The results of Ihese valuations are set out below. -36- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 Defined benefit penslon scheme (Contlnued) (a Statement of FinancSal Posltion as at 31 March 2024 2024 2023 2022 Present Value of Defined Benefit Obligation Fair Value of Fund Assets DeficiU(surplus) Impact of asset ceiling Net defined benefit liabililyl(assel) 5,334,000 19,191,000 13.875,000) 3,875,000 5,255.000 18,200,000} (2,945,000} 2,945,000 8,122,000 8,028,000} 94,000 £94.000 An asset ceiling has been recognised lo limit the defined benefit asset to £Nil. While it is possible under LGPS regulations for an employer to receive a refund of surplus, Safer Places is a minor participant in the scheme and does not have sufficient influence to reduce future contributions lo the scheme, (b) Amounts recognlsed In Income and Expenditure 2024 2023 Service Cosls Net Interest on defined liabililyl{assel) Exclude Net Interest above asset ceiling Administration Expenses 55,000 (144,0001 144,000 6,000 £61,000 106,000 4,000 £110,000 Remftasurements In Other Comprfrhenslve Income 2024 2023 Returns on Fund assets in excess of interest Changes in deinographic assumption5 Experience gains in deferred benefit obligations Change in financial assumptions Olher actuarial gainsl(lossesl on assets Changes in effect of asset ceiling Remeasurement of the net asselsl{defined liability) 615,000 71,000 {44,000> 46,000 (107,000) 125,000 (333,0001 3,224,000 74,000 {2,945.000 £38,000 768,000 £(80,000) (d) Reconciliation of Openin9 and Closing Balances of present Value of the defined benefit obligation 2024 2023 Opening defined benefit obligation Current Service Cost Interest Cost Changes in Demographic Assumptions Experienced Gains on Deferred Benefit Assumptions Change in Financial Assumptions Estimated Benefits Paid Contributions by Scheme Participants Closing defined benefit obligation 5,255,000 55,000 249,000 (71,000) 44,000 (46,000) {172,000) 20,000 £5,334,000 8,122,000 106,000 209,000 {125.0001 333,000 (3.224,000> (187,000) 21,000 £5,255,000 37- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 Deflned benefit penslon scheme (continued) Ie) Reconciliation of Opening and Closing Balance of Fair Value of Funds Assets 2024 2023 Opening Fair Value of Fixed Assets Interest on Assets Relurns on Assels less Interest Administration Expenses Corslribulions by Employer Contributions by Scheme Participants Estimated 8enefits Paid Closing Fair Value of Fund Assets 8.200,000 393,000 615,000 {6,000) 141,000 20,000 1172,000) £9,191,000 8,028,000 209,000 (107,000} 14.000) 166,000 21.000 {187.000) £8,200,000 Sensltivity Analysis £OOO's +0.1% 5,251 54 £OOO'$ O.O'/• 5.334 55 £OOO's Adjustment lo Dlscount Rate Present Value of Total Obligations Projected Service Costs 5,420 57 Adjustment to Long Term Salary Increase Present Value of Total Obligations PTojecled Service Costs +0.1• 5,338 55 o.op 5,334 55 -0.1trA 5,330 55 Adjustment to P8nslon Increase8 and deferred revaluatlon Present Value of Total Obligations Projected Service Costs O.OO/• 5,334 55 -0.1tyA 5,253 54 5,417 56 Adjustment to Llfe Expectancy Assumptlons Present Value of Total Obligations Projected Service Costs +1Year 5,529 None 5,334 55 -1 Y•ar 5,146 53 (gl Projected penslon exponse for the year to 31 March 2025 Service Cost Net Interest on defined benefit liabilityl{asset) Administration Expenses Total Lossl{Surplus) 55,000 (3,000) 6.000 £58,000 Employer Contribution £145,000 -38- SAFER PLACES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Related party transactions During the year the charity made purchases of Professional Services £11,865 (2023.. {£13,524} Irom D.Wildey, a truslee of the charity. No balance was due at the year end. No trustee received reimbursement of expenses12023'. no trustee received any reimbursernenl of expenses). Safer Places is the parent undertaking of Safer Places Professional Training and Development CIC, an unregistered body. Safer Places acts a5 paymaster for staff jointly employed by both entities and recharged staff costs amounting to £97.531. Safer Places charged SPPTDCIC a management fee of £14,898 and recharged £5.974 of expenses paid on that company's behalf. The allocation of slaff costs was calculated on the basis of lime spent by those employees on the activily of the subsidiary with no markup. In addition, Safer Places received a distribution under gift aid of £31,157 in the year. At the year &nd, £Nil wa$ owed by Safer Places to SPPTDCIC, Safer Places is the parent undertaklng of Safer Properties Limited, an unregislered body. There were no transactions with Safer Properties during the year. At the year-end £900 (2023.. £900) was owed by Safer Properties lo Safer Places. 19 Ultimat• control The charity is under no overall control but is administered by the trustees. 20 FSnancial commitments At 31 March 2024 the charity was committed lo making the following paymenls under nonwcancellable operating leases. Land and Buildin 2024 2023 Other Group Operatin9 leases which expire 2024 2023 Wrthin one year Between and five years In more than five years 414,103 194,143 15,768 413,710 225.655 55,664 14,280 22,411 35,139 42,462 £624,012 £695,029 £36,691 £77,601 Land and Buildin 2024 2023 Other Parent Operating leases which expire 2024 2023 Wrthin one year Between two and five years In more than five years 414,103 194,143 15,766 413,710 225,655 55,664 14,280 22,411 35,139 42.462 £624,012 £695,029 £36,691 £77,601 21 Capltal commilments At 31 March 2024 Safer Places had no capital commitments. -39- KNOX CROPPER chartered accountants 4••• ?• SaFerPlaces Domestic Abuse Support Services Audit Findings Report Year Ended 31 March 2024 **Safer Places: Audit Findings Report for the year ended 31 March 2024** The Board of Directors Safer Places 1 August 2024 Dear Directors **Safer Places and Subsidiary Companies** ## **Audit findings for the year ended 31 March 2024** This Audit Findings Report highlights the significant findings arising from the audit and sets out the key matters which we are required to formally report to those charged with governance in accordance with International Standard on Auditing (UK) 260. As you will appreciate, our audit procedures are designed primarily to enable us to form an opinion on the accounts as a whole. Our procedures include such tests of the accounting records and internal control systems as are, in our opinion, necessary for audit purposes. Consequently, whilst our procedures may identify certain weaknesses which may exist, the audit procedures in themselves should not be relied upon to reveal all the weaknesses which may exist in the system. This report has been prepared for your sole use and we assume no responsibility to any other party in respect of its contents. The report should not be disclosed to any third party without our prior written consent. This report is not exhaustive and deals with only the more significant matters which came to our attention during the audit. Other matters of lesser significance have been discussed with the relevant staff during the course of our audit work. We would like to take this opportunity to express our appreciation to management and staff for their assistance and co-operation during the course of our audit. If you have any queries on any of the points in this letter, please do not hesitate to contact us. Yours Sincerely ## **Knox Cropper LLP** **1 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Contents** |Audit Overview|Page 3| |---|---| |Materiality and Audit Adjustments|Page 6| |Key Audit Risks and Conclusions|Page 7| |Internal Control Observations and Recommendations|Page 9| |Emerging Issues|Page 10| |Letter of Representation|Page 14| **2 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Audit Overview** ## **General** The purpose of our audit is to gather sufficient evidence to allow us to conclude that the transactions and balances disclosed in the accounts are unlikely to be materially misstated, to establish that disclosures reflected in the accounts comply with the requirements of legislation and relevant accounting standards, to assess whether the accounting policies adopted are appropriate and consistently applied and to assess whether judgements exercised and estimates made in the preparation of the accounts are fair and reasonable. ## **Audit Report** We confirm that we have completed the audit to our satisfaction and intend to issue an unqualified audit opinion on the Financial Statements. This means that we have no material reservations over the figures or information disclosed in the financial statements. The wording of our audit report is in accordance with the standard text for unqualified audit reports prescribed by the Financial Reporting Council. Our report also includes a section which is specific to this audit setting out our response to the risk of material misstatement in respect of irregularities arising from noncompliance with laws and regulations, including fraud. ## **Estimates and Judgments** The key estimates and judgments made by management affecting the financial statements are as follows. - Post Retirement Obligations - Valuation of Investment Properties - Bad Debt Provision We have concluded that management have exercised judgments and calculated estimates in a fair and reasonable way. **3 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Accounting Policies and Disclosures** The accounting policies adopted by the company are in line with the Generally Accepted Accounting Practices and are, in all material respects, appropriate to its operations and comply with FRS 102 and SORP 2018 for Social Housing Providers. Adequate consideration was given to the potential impact of charges in legislation and accounting standards which arose during the year. There were no changes in the current year, and the form and content of the Financial Statements for the year ended 31st March 2024 remain consistent with the previous year. ## **Professional Ethics and Independence** We confirm our compliance with Ethical Standards issued by the Financial Reporting Council. There are no matters in relation to our audit engagement which we consider should be brought to your attention. We also confirm that we have evaluated our firm’s independence in connection with the audit and implemented appropriate safeguards to ensure there are no factors affecting our independence or objectivity and thus our ability to continue to act as auditor. These included: - The self-review threat arising from our assistance with the preparation of the financial statements; - The self-review and management threat arising from processing journal adjustments; These however have been properly addressed by appropriate safeguards, namely: - A separate person, who was not involved in the audit, prepared the accounts based on the information provided by the finance team at Safer Places; - Journal adjustments being approved by the directors in writing; ## **Other Audit Matters** In accordance with UK auditing standards, we confirm the following matters in relation to our audit of the financial statements: - a) We have not identified or been made aware of any incidents of fraud or suspected fraud. We would emphasise that our work as auditor is not intended to identify any instances of fraud of a non-material nature and should not be relied upon for this purpose. - b) We have not identified or been made aware of any incidents of non-compliance with laws and regulations which could have a material impact on the financial statements. - **4 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** - c) We have not identified or been made aware of any related party transactions other than matters which have been disclosed in the financial statements. - d) We have received all requested third-party confirmations which represent an essential element of our audit evidence. - e) Apart from the matters set out in this report, there were no significant matters discussed with management during the audit which we are required to bring to your attention. There were no significant disagreements with management, or any limitations placed on the scope of our work. No significant difficulties were encountered during the audit. **5 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Materiality and Audit Adjustments** ## **Materiality** Materiality is used both to plan the nature and extent of audit testing and to evaluate the effect of misstatement. In accordance with ISA (UK) 260 ‘Communication with those charged with governance’, we are obliged to include details in this report of all unadjusted errors which are below materiality unless they are clearly trivial. Whilst our audit procedures are designed to identify misstatements which are material to our audit opinion, we also report to those charged with governance and management any uncorrected misstatements of lower value errors to the extent that our audit identifies these. Omissions or misstatements are regarded as material if they would reasonably influence the users of the financial statements. The assessment of what is material is a matter of professional judgement. Our assessment of materiality for the parent and component entities for the year ended 31 March 2024 was calculated as follows: ||Parent
£|Subsidiary
£|**Explanation**| |---|---|---|---| |Overall Materialityfor the Financial Statements|59k|4.8k|Accounts materiallymisstated where total errors exceed this value| ||||| |Performance Materiality|44k|3.6k|Workperformed to capture individual errors at this level.| ||||| |TrivialityLevel|2.9k|0.2k|Unadjusted errors above this level are reported.| ## **Audit Adjustments** All material adjustments arising from our audit work have been discussed with management and appropriately reflected in the financial statements. The adjustments agreed are included in an appendix to this this letter. We confirm that no further misstatements were detected during the audit which remain uncorrected in the financial statements other than matters which are both individually and cumulatively below performance materiality. A schedule of unadjusted errors is also included with this report. **6 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Key Audit Risks and Conclusions** The following schedule sets out the key risks which we identified as part of our audit planning. It sets out our approach to ensuring that these risks did not give rise to any material misstatement in the financial statements and our audit findings. **Risk Audit Approach Audit Findings 1 Revenue Recognition & Completeness of income** Rental income will be reviewed against approved We are satisfied that, following our work and our Under ISA (UK) 240 there is a presumed risk of fraud rental rates and resident numbers adjusting for discussions with management, income has been in relation to revenue recognition. The presumption voids. appropriately accounted for. is that the Association could adopt accounting policies or recognise income in such a way as to lead Substantive testing will be performed on a sample of to a material misstatement in the reported revenue the population to verify that residents are being position. processed correctly. A sample of housing benefit will also be tested on a sample basis to Council generated reports for accuracy and completeness. **2 Recoverability of rent arrears and the reasonability** We will test recoverability of debtors by agreeing Rent arrears were tested for recoverability and **of the doubtful debt provision** amounts due to receipts after the year end. We will provision discussed with client. By its nature, the accommodation provided to consider the adequacy of the doubtful debt victims of domestic abuse is often short-term which provision, considering the status (current/former We reviewed individual arrears balances for leads to an increased risk of rent arrears not being resident) of debtors and the age of the debt. recoverability and identified no issues with the collected and housing benefit not being actions being taken by the company to manage recoverable. arrears. **3 Restricted Funds** We will review grant restrictions as part of the We are satisfied that restricted income is fairly Fund accounting can be a complex area, and with Income audit procedures by agreeing to the grant classified and that only genuine restricted the large number of restricted funds in Safer Places agreements. Our expenditure testing will challenge expenditure has been allocated to the funds. expenditure set against restricted funds to ensure there is a risk that income could be incorrectly that only expenditure which fits the terms of the classified as unrestricted, and also that ineligible restriction has been allocated to that fund. **3 Restricted Funds** Fund accounting can be a complex area, and with the large number of restricted funds in Safer Places there is a risk that income could be incorrectly classified as unrestricted, and also that ineligible expenditure could be spent from restricted funds. **7 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **4 Investment Property Valuation** FRS 102 requires investment properties to be revalued at each reporting date. There is a risk that the properties will not reflect the market value at the year end. We will ensure the Trustees have considered the valuation of the Investment Properties, including seeking professional guidance. We will challenge any assumptions made against market conditions to ensure fair value in the financial statements. The investments have not been revalued during the current year due to issues with the estate agents. We have reviewed the market values of similar properties in the area which have recently been sold and also looked at estimated values of the properties based on market conditions. Both properties on this basis are included in the accounts at a slightly lower value, however, management would prefer to be prudent given these values are only estimates and the state of properties internally is not known. We are satisfied that the figure in the accounts is reasonable but would recommend that a professional valuation is undertaken in the next financial year. - **5 Management override of Controls** Under ISA (UK) 240 there is a presumed risk that management and directors have the ability to process transactions or make adjustments to financial records outside of the normal financial control processes. Such transactions could lead to a material misstatement. Due to the size and nature of the entity, the No instances of management override of controls potential for management override of controls is were detected by our audit procedures. Journal considered a significant risk. This will be addressed entries were found to be appropriate and in by the review of journal entries processed in the accordance with supporting documentation or accounting records, and the investigation of all management calculations. significant and unusual transactions identified from our review of the accounting records. - **6 Identification of all related party transactions** The risk of material misstatement of related party relationships and transactions can arise due to a failure by entities to identify or disclose related party relationships and transactions, whether by lack of understanding or knowledge of relationships that fall within the definition, or by using unidentified related parties to cover up fraudulent activities or financial reporting. We will review the details of related party No additional related party transactions were transactions prepared by the Board and obtain identified during the course of our work. We are representation from the Board that the register satisfied disclosure of related party transactions in accurately and completely discloses all related party the financial statements is complete. transactions. We will review our audit work to identify any previously unidentified related parties and related party transactions. **8 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** - **7 Going Concern** As auditors we are required to obtain sufficient appropriate evidence about the validity of management’s use of the going concern basis in the preparation and presentation of the financial statements and to conclude whether there is material uncertainty about the entity’s ability to continue as a going concern. We will review the going concern position of the Charity by reviewing the budgets and cashflow forecasts for the period of at least 12 months from the date of signing the accounts. We are satisfied that the Charity has sufficient funds to cover liabilities as they fall due over the next 12 months. ## **Staff Costs** **8 Staff Costs** Staff costs are one of the largest expenses of the organisation and as such if there are errors these could be material to the accounts. We will review payroll records and ensure that reconciliations between payroll reports and the accounting system are accurate. We will review any PAYE and pension balances, if any, at the year end and ensure they are being paid across in a timely manner We noted during our testing one instance of pension payments being paid late. This appears to be a oneoff occurrence and was paid shortly after the deadline. Our testing of the payroll records did not identify any further issues. ## **Internal Control Observations and Recommendations** We are required to report to you, in writing, significant deficiencies in the internal controls and the internal control environment that we have identified during the course of our audit. These matters are limited to those which we have concluded are of sufficient importance to be reported to you. Our audit cannot necessarily be expected to disclose all deficiencies in the system and, as a result, the matters reported may not be the only ones which exist. We have categorised the internal control deficiencies using a colour-scale rating system. The key to which is as follows: |We have categorised the internal control deficiencies using a colour-scale rating system. The key to which is as follows:|| |---|---| |Control weakness is not significant but we recommend that it be addressed to comply with good practice|| |Control weakness is serious and needs to be addressed|| |Control weakness is of critical importance and needs to be addressed as a priority|| **9 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Matters Brought Forward from the Previous Year** > **Risk Observation Rating** ## **Recommendation Management Response** **1 Purchase Ledger Postings** We recommend that Xero controls are @ Instances of duplication of postings of adhered to in order to prevent duplicate expenditure invoices in Xero were postings. Where errors are made during identified during the course of our work. posting, these should be referred to the Whilst these amounts were clearly trivial in line manager for prompt and correct value, it identified a control deficiency in resolution. that a Xero control would have to have been overridden in order to create postings to the same supplier with the same invoice number. These were isolated cases due to error. Xero controls will be complied with going forward to avoid any discrepancies in the accounting records. Due to the timing of the previous year’s audit, there remained some minor instances in the current year under review which had already occurred. ## **Matters Arising in Current Year** - **1 Subsidiary Bank Accounts** @ Safer Places Professional Training and Development CIC deposit funds are held in Flagstone accounts in the name of Safer Places. We recommend that the deposit accounts Deposit accounts will be opened in the are changed to reflect the legal title of the name of the subsidiary company and funds owner, namely Safer Places Professional transferred accordingly. Training and Development CIC. **10 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Emerging Issues** ## **Companies House Reform** The Economic Crime and Corporate Transparency Act, which became law on 26 October 2023, has introduced significant changes to the way Companies House will operate, changing its role from a passive recipient of information to an active gatekeeper, charged with ensuring that information held on the register is valid and accurate. Some changes start on 4 March 2024, but most will take over a year to fully implement as they require additional legislation and resources. Key changes include: - Identification Checks: Directors and those filing returns must verify their identities. - Filing Information: Only verified company officials or authorised service providers can file documents. - Directors and Members: Corporate shareholders are only allowed if all their directors are verified natural persons. Companies no longer need to maintain a director register. - Registered Address: Companies must have an address that can receive mail. PO Box addresses won't be acceptable, and companies must also register an email address. - Statutory Accounts: Over 2-3 years, all accounts must be filed using software. - Companies House Role: It will actively monitor and verify company information to prevent economic crime.om a passive recipient of information to an active gatekeeper, charged with ensuring that information held on the register is valid and accurate. ## **Proposed changes to Financial Reporting** FRS 102 is subject to a periodic review at least every five years. The first periodic review, the Triennial Review 2017, was completed in December 2017, with an effective date of 1 January 2019, and remains applicable. The first periodic review, the Triennial Review 2017, was completed in December 2017, with an effective date of 1 January 2019, and remains applicable. The second periodic review commenced in March 2021 and following consultation in 2023 resulted in the publication of amendments in March 2024. The amendments include: a new model of revenue recognition; a new model of lease accounting; and various other incremental improvements and clarifications to provide greater consistency and alignment to international accounting standards. The effective date of the amendments is 1 January 2026. ## **Social Housing Rent Increases** Social housing rents are expected to rise by more than inflation over the next decade as part of government plans to boost affordable housebuilding and shore up the finances of registered providers. The chancellor, Rachel Reeves, is working on plans to introduce a 10-year formula to calculate social rent on **11 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** homes in England that will result in rents increasing every year by the rate of the consumer prices index – which is now 2.2% – plus 1%, removing an existing cap on rises. Reeves is expected to announce the plan at her first budget, on 30 October. ## **National Cyber Security Strategy 2022-2030** The government’s National Cyber Security Strategy aims to enhance the UK's digital security. A draft Code of Practice on cyber-security governance was published in January 2024 to help directors and senior leaders strengthen their defences against cyber threats, placing cyber security on par with financial and legal risks. It covers regular cyber-awareness training for staff, regularly updating organisational comprehensive plans for responding and recovering from cyber breaches, advocating for regular penetration testing to identify and address vulnerabilities and encouraging organisations to obtain “Cyber Essentials” certification. ## **Changes on Holiday pay process** A recent court decision has simplified the rules for holiday pay, particularly for workers with irregular hours. The Supreme Court has confirmed that holiday pay liabilities can be retroactive for up to two years, necessitating careful planning by employers to avoid errors. New regulations define irregular hours and part-year workers, specifying that leave must be accrued at 12.07% of hours worked and can be paid in instalments, though this is optional. The regulations also detail how leave can be carried forward for workers who are sick or on statutory leave like maternity or paternity, allowing unused leave and pay to be carried forward to the next leave year. These changes aim to provide clarity and simplify the holiday pay process for both employers and employees. ## **Class 1A NIC on benefit in kind** Starting April 2026, payrolling benefits and paying Class 1A NIC on BIK via payroll will be mandatory, aiming to simplify tax reporting and reduce administrative burdens. ## **Office of Financial Sanctions Implementation’s (OFSI) guidance** All UK entities, including charities, must comply with financial sanctions. The OFSI provides guidance on ensuring compliance, particularly important given the increased sanctions due to the Ukraine conflict. https://www.gov.uk/government/publications/financial-sanctions-faqs ## **Know your donor – key questions for trustees** All charities should know their donors and think carefully about whether or not to accept donations. Charity Commission’s Compliance Toolkit and Know Your Donor Questions provide useful tools for due diligence for charities to assess the risks of accepting a donation, including reputational risks. **12 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** https://www.gov.uk/government/collections/protecting-charities-from-harm-compliance-toolkit#chapter-2:-charities:-due-diligence,-monitoring-andverifying-the-end-use-of-charitable-funds https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/550694/Tool_6.pdf ## **My Charity Commission Account** Launched in 2023, My Charity Commission Account provides trustees, managers, and accountants with tailored support and information, facilitating access to online services such as updating charity details and submitting annual returns. https://www.gov.uk/guidance/setting-up-my-charity-commission-account **13 |** P a g e **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Letter of Representation** International auditing standards require us to obtain, from the directors, a number of specific representations and also confirmation of any other material representation given to us during the course of our audit which forms part of our audit evidence. The representations should be made on the basis of enquiries of management and staff with relevant knowledge and expertise. The following is the full list of representations which we will require to be formally provided to us in a letter, signed on behalf of the directors, prior to signing our audit report. ## **Confirmation of Responsibilities** 1. We have fulfilled our responsibilities as trustees under the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction 2022 for preparing financial statements which give a true and fair view in accordance with the financial reporting framework (FRS 102 and the Housing SORP). 2. We confirm that all accounting records have been made available to you for the purpose of your audit, in accordance with your terms of engagement, and that all the transactions undertaken by the company have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and Directors’ meetings, have been made available to you. We have given you unrestricted access to persons within the Association in order to obtain audit evidence and have provided any additional information that you have requested for the purposes of your audit. 3. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that: - so far as each Director is aware, there is no relevant audit information of which you as auditors are unaware; and - each Director has taken all the steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that you are aware of that information. ## **Estimates and Judgments** 4. We confirm that the methods, significant assumptions and source data used by us in making accounting estimates, and their disclosure in the financial statements, are appropriate and in compliance with the recognition, measurement and disclosure requirements of FRS 102. 5. We confirm that all known actual or possible litigation and claims, the implication of which should be considered when preparing the financial statements, have been disclosed to you and have been accounted for and disclosed in accordance with FRS102 and the Act. - **14 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** ## **Post Balance Sheet Events and Commitments** 6. We confirm that there have been no events since the balance sheet date which necessitate revision of the figures in the financial statements, or inclusion of a note thereto, other than those matters which have already been disclosed or included in the financial statements. 7. We confirm that the company has not contracted for any capital expenditure other than as disclosed in the financial statements. 8. We confirm that we have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements. ## **Related Parties** 9. We confirm that we are aware of the definition of a related party as set out in FRS102 and the Housing SORP. 10. We confirm that we have disclosed to you all related parties and related party transactions relevant to the company and that we are not aware of further related party transactions other than those already disclosed in the financial statements in accordance with the requirements of FRS102 and the Act. 11. We confirm that the company has not had, at any time during the year, an arrangement, transaction or agreement to provide credit facilities for directors, nor to provide guarantees of any kind on behalf of the directors, except as disclosed in the financial statements. ## **Laws, Regulations and Contractual Agreements** 12. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the Association conducts its operations, non-compliance with which could affect the financial statements. 13. The company has complied with all aspects of contractual and other agreements that could have a material effect on the financial statements in the event of non-compliance. ## **Internal Control and Fraud** 14. We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud and we confirm that we have assessed the risk that the financial statements may be materially misstated as a result of fraud and that we have made this assessment available to you. We also confirm that, to the best of our knowledge and belief, there have been no significant deficiencies in internal control during the year. - **15 |** P a g e ## **Safer Places: Audit Findings Report for the year ended 31 March 2024** 15. We confirm that we have disclosed to you our knowledge of any actual or suspected instances of fraud involving management, employees with a significant role in internal control, and others where the fraud could have a material effect on the financial statements. We also confirm that we have disclosed to you our knowledge of any allegations of fraud or suspected fraud, affecting the financial statements, which have been communicated by employees, former employees, regulators or others. ## **Going Concern** 16. We confirm that, having considered financial projections which reflect the company’s expectations and intentions for a period of at least twelve months from the date on which the financial statements are expected to be approved, in our opinion, the company’s financial statements should be prepared on the going concern basis. ## **Uncorrected Misstatements** 17. We confirm that, in our opinion, the effects of any uncorrected misstatements which have been set out in the Audit Findings Report, are immaterial, both individually and in aggregate, to the financial statements as a whole. ## **Other Matters** 18. All grants, donations and other incoming resources, receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms and conditions in the application of such incoming resources. 19. We confirm that we have informed you of the details of all correspondence with the company’s regulators during the year and subsequently, in particular, the details concerning non-compliance with financial and regulatory matters. Signed for and on behalf of the Directors of Safer Places Director Date **16 |** P a g e