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2021-03-31-accounts

Place2Be (A company limited by guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

PLACE2BE

(A company limited by guarantee)

Registered number: 02876150 Charity numbers: 1040756 & SC038649

PLACE2BE

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

(A company limited by guarantee)

PLACE2BE

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2
Independent auditor's report on the financial statements 21
Consolidated statement of financial activities 25
Consolidated balance sheet 26
Charity balance sheet 27
Consolidated statement of cash flows 28
Notes to the financial statements 29

PLACE2BE (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Patron

Her Royal Highness The Duchess of Cambridge

President

Dame Benita Refson DBE

Trustees

Mr Simon Mackenzie Smith, Chair Mr William Russell, Deputy Chair Mr Aamir Ahmad (appointed 22 July 2020) Mr Sandy Begbie Ms Anuja Dhir (appointed 30 September 2020) The Rt Hon Stephen Dorrell Ms Elizabeth Greetham Ms Sian Hill Ms Elpha LeCointe Mr Adrian Levy Sir Charlie Mayfield Mr John Murphy (appointed 23 April 2020) Ms Margaret Murphy Professor Stephen Scott The Countess St Aldwyn Dr Joseph Spence (resigned 30 September 2020)

Company registered number 02876150

Charity registered numbers

1040756 and SC038649

Principal and registered office

175 St. John Street, London, EC1V 4LW

Independent auditor

Crowe U.K. LLP, 55 Ludgate Hill, London EC4M 7J

Bankers

Lloyds Bank plc, London, W1C 2BU

Solicitors

Clifford Chance, 10 Upper Bank Street, London, E14 5JJ

Company Secretary

Mr Nicholas Herod

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PLACE2BE (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

Foreword by Chair and CEO

Resilience and leadership in times of challenge

At Place2Be we believe that no child should have to face mental health problems alone. One of the key components of our whole-school approach to mental health is to equip children and young people with the skills to cope with life’s challenges, to engage in their learning and school life and to realise their full potential. This has perhaps never been more important than over the past 12 months, a period in which our core values of compassion, integrity, perseverance and creativity have shaped how we approach our work and culture as an organisation.

We are immensely proud of how our team at Place2Be has stepped up to the challenge of the last year and not only continued to provide support for our school communities, but also stretched further, adapted and developed and reached out to support and assist many more school leaders, staff and parents through our training and resources. We learned a great deal early in 2020, during the first wave of Covid-19, when we adapted and reconfigured our traditional face-to-face model to a more ‘blended approach’. So, as the various local lockdowns progressed across Scotland, Wales and England, the dedication of our frontline staff, combined with our professional business support functions, enabled us to continue to be there for children, young people, families and our schools. The timely restructure of our clinical and operational teams also meant that we were set up to respond quickly and effectively to schools’ needs and, in a position to progress with the expansion of our work. In the past financial year we have been privileged to provide support and be there for 247,420 children through a mix of face-to-face sessions with students who continued to attend school, and online or phone sessions for those in lockdown or quarantine. Our strong partnerships with school communities across the UK have been vital during these difficult times.

Significant scale-up of our support for school leaders and school staff

In the past year, we have especially made great strides forward in building awareness skills, knowledge and the confidence of staff in schools to respond to the emotional and behavioural needs and challenges of their pupils. We launched our online Mental Health Champions Foundation Programme, and thanks to generous funding from Morgan Stanley, the Wimbledon Foundation, the Law Family Charitable Foundation and Baillie Gifford, we have engaged with over 50,000 staff across 42% of schools in the UK, reaching every county in England, Wales, Scotland and Northern Ireland. We also delivered our Place2Think mental health consultations to over 850 school staff. The take-up and response to these services demonstrates the very real demand for practical, accessible training to help school teams to better understand - and respond to - children’s emotional needs. The outcomes also demonstrate the potential of effective online and blended programmes.

Evidence-based practice

We have continued to draw on the insights produced by our research and evaluation team from the data and evidence gathered from our front-line work to inform ongoing service development. During this period, we have reviewed and refined our clinical support for parents, to ensure we are delivering the most effective service, with our focus always on the child in need. The pandemic put greater pressure on parents and carers, who reported the highest ever level of behavioural, emotional and attentional difficulties among school-aged children, when Covid-19 restrictions were at their height*. As well as implementing some structural changes, working with partners such as King’s College London and SLAM we researched and began to trial digital services that will enable us to reach even more parents, carers and families who may be struggling to support their child’s mental health.

Stakeholder engagement and removing stigma

We have also increased Place2Be’s standing as an expert in the field of children’s mental health, based on 27 years’ experience of working in schools across the UK. Over the past 12 months, we have stepped up our public affairs work, through contributions and dialogue with key stakeholders and policy makers, including Ministers and Select Committees, the NHS Confederation and the publication of our clinical evidence which underpins our whole-school approach to mental health. Our Children’s Mental Health Week in February 2021 coincided with another national lockdown, but with its theme of Express Yourself , the Week offered a welcome opportunity for positive engagement and activities in schools and homes to support mental health. It also provided a platform for considered debate and reflection on the role of self-expression in providing a vital emotional outlet at a time when many were struggling to cope. With an unprecedented demand for our school resources, support from our Royal Patron, widespread media coverage, mentions in the House of Commons and

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PLACE2BE (A company limited by guarantee)

the Scottish Parliament and the first engagement with our new ambassador, Lemn Sissay, the week was our most successful to date. This combined activity has helped to increase understanding, inform policy and position children and young people’s mental health firmly on the public agenda.

Equality, Diversity and Inclusion

Diversity remains an on-going area of focus. In autumn 2020 we published our Equality, Diversity & Inclusion action plan, updated this summer, to ensure we are fully transparent in delivery against our commitments. Like many organisations, we are on a journey to make Place2Be more representative of the communities we support, and we have made good progress in the past year. This includes our 28 bursaries supported by The Wolfson Foundation, awarded to students on low incomes to support their professional training with Place2Be; giving a greater voice to colleagues and peers from diverse communities through the publication of blogs and personal experiences; and Place2Be’s continuing lead role as chair and host of the sector-wide Diversity and Inclusion Coalition, which held a workshop in February to address the need for a more inclusive clinical curriculum in the training of counsellors and mental health professionals.

In May, we said farewell to Director of Learning and Practice Patrick Johnston, who took up a new role with digital service provider Kooth plc, and also to our People Director Jan McCarthy, who retired. We thank them both for their dedication and support over the past few years. We were delighted to welcome our new Director of People and Culture Wande Showunmi, who is already making strides in moving forward this agenda. The increased diversity within our Trustees and Executive team brings a broader perspective and lived experience to the benefit of all in the Place2Be community.

Conclusion

The pressure on all those delivering frontline services during the pandemic has been immense. We are hugely proud of the perseverance, integrity and dedication of Place2Be’s staff throughout an incredibly challenging year. We also continue to be immensely grateful to the donors and funders who were there for us and whose generosity enables us to support even more children and communities in need . And we are also very fortunate to benefit from the expertise and wisdom of our advisors and Trustees who have helped to steer us through the past 12 months.

As we embark on a new academic year, we’re looking forward to pressing on with the expansion of our frontline services to reach more children and families through direct work and partnership with school communities around the UK as well as through our Senior Mental Health Leads programme, now successfully quality-assured through a Department for Education assessment. We will continue to listen to our school communities and to engage with our staff and our supporters to ensure that our services bring real impact and benefit to the mental wellbeing of the children and young people who remain at the

heart of everything we do.

Simon Mackenzie Smith, Chair of Trustees.

Catherine Roche, CEO.

*References: CO-SPACE, (2021)

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PLACE2BE (A company limited by guarantee)

Section 1: Objectives and activities

Our status and mission

Place2Be is a company limited by guarantee and a charity registered in England & Wales and in Scotland.

Our mission is to enhance the wellbeing and prospects of children and their families by providing access to therapeutic and emotional support in schools, using a proven model backed up by research and training.

Our objectives, as set out in our memorandum and articles of association, are the advancement of education and the preservation and protection of health amongst young persons and adults, without prejudice to the generality of the forgoing, by:

Evidence of how we are delivering our objectives can be found in Section 2.

Our vision, aims and strategy

Our work focuses on four areas:

Why this matters:

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PLACE2BE (A company limited by guarantee)

Section 2: Strategic Report Section 2a: Achievements and performance against 2020/2021 commitments

Our impact at a glance

Our work with schools

Building skills and raising awareness

In FY20/21:

In FY20/21:

Direct in-school delivery:

We worked with 492 schools in total reaching 247,420 children and young people [vs 700 schools in 2019/20, reaching 380,691 children and young people]

In the academic year 20/21:

53,603 school staff undertook our new Mental Health Champions (MHC) Foundation programme. 97% of those who completed the course would recommended it and 73% learned something that resulted in a change in their action, behaviour or attitude in the workplace (vs 413 class teachers, both online and face to face who completed our Class Teacher programme in 2019/20)

Of pupils who have taken part in Place2Be counselling between April 2020 and October 2021 (last data available):

822 people signed up to join our reflective supervision groups, Place2Think.

225,341 total downloads [vs 82,000 the previous year] of Place2Be’s Children’s Mental Health Week resources, between 1 November 2020 - 7 February 2021 (end of the week).

432,000 downloads in total of Place2Be resources for schools, parents and carers. The increase reflects the demand for trusted, practical mental health advice and activities during the pandemic.

Children’s Mental Health Week was highly commended in the PR industry’s Purpose Awards 2021

Building a child mental health workforce

Innovating and communicating our impact

In FY20/21:

99 people on qualifying courses (Level 2 through to PGDip) [vs 418 people previous year]

162 people attended a ‘Taster Day’ [vs 1,039 previous year]

Peer review papers published to disseminate learnings and share best practice , between April 2020 and July 2021:

Counselling and Psychotherapy Research . What issues bring primary school children to counselling? A service evaluation of presenting issues across 291 schools working with Place2Be. (July 2020)

There was a reduction in face to face training, due to Covid-19 restrictions.

765 Counsellors on Placement (CoPs) trained with Place2Be for more than 2 months.

685 individual CoPs attended a workshop, and 550 of these attended more than one workshop during this time

Child and Adolescent Mental Health. Teachers concerns about pupil's mental health in a cross-sectional survey of a population sample of British school children. (October 2020)

Lancet Child and Adolescent Health; Journal of Child Psychiatry and Psychology; European Child and Adolescent Psychiatry . The long-term effects of school-based counselling in UK Primary Schools. (May 2021)

We ran 115 workshops, each a day-long course.

We awarded 28 bursaries,funded by The Wolfson Foundation, to students on low incomes to support their professional training with Place2Be

754 unique users accessed Place2Be’s learning hub, which provides a range of courses and guidance.

Publication of Place2Be’s 25 years’ learning from practice and evaluation (May 2021)

Online growth

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PLACE2BE (A company limited by guarantee)

Overview of delivery against our business strategy in 2020/21

Between April 2020 and March 2021, the pandemic caused huge disruption and great anxiety among school communities across the UK. As the various nations and regions moved in and out of lockdown we were able to respond to this period of unprecedented change and demand for our support and professional advice. We continued to support schools through the pandemic by reconfiguring our services in response to the changing needs of our partner school communities and the broader audience of parents and carers. Our clinicians and expert staff continued to support young people, responding to their individual needs with a blended offer, combining face to face and group work with online and telephone support as required during the various waves of the pandemic. In the financial year 2020/21 we supported 247,420 children and young people, holding a total of 33,870 sessions. We also continued to promote universal digital services ThinkNinja and Kooth, as well as the free crisis textline Shout, all of which are available outside of school hours, to ensure children knew there was support at hand at all times.

The majority of Place2Be’s business support staff continued to work remotely wherever possible, with a gradual return to the office, and the resumption of in-person training once the vaccination programme was rolled out from spring 2021.

Despite Covid-19, we continued to focus on the priority areas outlined in our business strategy :

Building confidence, skills and knowledge in schools, to promote a better understanding of mental health: We listened to school leaders and class teachers and responded to their increasing needs. Over the past year we boosted our support for school staff to increase their knowledge and understanding how to spot and respond to the emotional and behavioural challenges of pupils. We adapted our initial online programme for teacher training and user-tested it with partner schools, before rolling it out as a UK-wide Mental Health Champions Foundation Programme in autumn 2020. We were delighted to be able to offer this support free of charge thanks to generous funding from Morgan Stanley, the Wimbledon Foundation, the Law Family Charitable Foundation and Baillie Gifford. Through this programme we have engaged with over 50,000 staff across 42% of schools in the UK and reaching every county in England, Wales and Scotland and Northern Ireland by May 2021. The levels of activity, completions and contributions to the programme have been consistently above industry averages: over 1.7 million views of the learning resources and 48% of users have completed the course (vs. 13% industry benchmark). We also delivered our Place2Think mental health consultations to over 850 school staff. The take-up and response to these services demonstrates the very real demand for practical, accessible training to help school teams to better understand - and respond to - children’s emotional needs.

We also created a wider range of resources for both parents and schools, including Back to School activities around the theme of hope and connectedness, to support communities in their recovery after a period of anxiety and trauma for many young people.

Providing high quality mental health services in schools: Our strong partnerships with school communities across the UK have been vital during these difficult times. The latest NHS Digital data published in 2020, shows that one in six children and young people now have a diagnosable mental health problem our frontline staff and 85% of young people we support in secondary schools have been negatively affected by the pandemic. During periods of lockdown, when many schools were closed to the majority of pupils, we adapted the ways we provide support. Our teams rapidly moved to a phone-based service to continue providing support to students, families and school staff. In total, we reached 247,420 during this period. Our new clinical and regional management structure allowed us time to focus more on how to shape our service more effectively in the light of our outcomes data. We have increased the range of targeted and universal offers to include digital as well as face to face interventions and have increased our focus on parenting particularly to support children with behavioural challenges. The new clinical delivery model highlights the central role of a rigorous assessment and formulation process to ensure the right intervention for each child or young person. It also emphasises the value of existing resources in the school and family systems which can be shaped to better support the child or young person’s mental health.

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PLACE2BE (A company limited by guarantee)

Over the past year we worked with a range of clinical partners to build the skills of our clinical teams and to develop our new interventions. During the first waves of lockdown, we ran a trial of an online parenting course, Parenting Fast and Slow , developed with Parenting Matters, led by Professor Stephen Scott of King’s College London. This was offered to parents in our partner schools between June and December 2020. We have taken the learnings from this trial to inform our understanding of how our staff, schools and parents engage with online resources and how we might overcome any barriers. This experience informed the development of our own Parenting Smart site, to be rolled out across the UK in the academic year ahead following a soft launch and user testing in our Place2Be schools. This has also helped inform the Place2Be parenting course currently in development in collaboration with Matt Woolgar from South London and Maudsley NHS Trust (SLaM), launching in early 2022. We have also appointed and trained (again in collaboration with SLAM/Kings College) one Family Practitioner for every area who will be offering ‘PIPT’, an individual face to face parenting training intervention for parents and children together. The Family Practitioners will also be facilitating cohorts of parents taking part in our online parenting course.

In line with our business plan and operational capacity introduced in the 2020 restructure, we continued to reach out to schools, with the aim to expand our in-school services in line with local needs. This has led to the creation of a new Place2Be region, covering the Midlands and Wales. The creation of this fifth region will enable us to devote greater attention to the specific needs of schools in Wales and the Midlands, while also enabling the team in Scotland to focus on delivery and growth within their nation.

Building the child mental health workforce :

This area of our work was the most disrupted due to lockdowns and our inability to run face to face training. However, in the same way as our school-based services pivoted to be delivered ‘virtually’, we were able to continue to deliver many courses and webinars online.

As part of our commitment to broaden the workforce, we were proud to launch our bursary scheme and award 28 bursaries, generously supported by The Wolfson Foundation, to students on low incomes to support their professional training with Place2Be. Place2Be has continued to chair and host the mental health sector-wide Diversity and Inclusion Coalition focused on training providers. In February, we held a workshop in a bid to address the need for a more equal and inclusive clinical curriculum. We also continued to build on our contacts with alumni through our regular newsletter, which is now sent to over 1,000 clinicians who trained with Place2Be to inform them of developments in the sector and to signpost to resources and career opportunities.

Raising awareness of children and young people’s mental health: Over the past year we have boosted our Policy and Public Affairs activity considerably. Using evidence and experience from our work in schools, we have continued to advocate for the provision of children and young people’s mental health support. The appointment of our first policy and public affairs manager in autumn 2020 has enabled Place2Be to play a more prominent sector role to ensure the topic of mental health and the importance of early intervention remains high on the national agenda. Key activity during this period includes: providing oral evidence, as well as giving a voice to students from secondary school partner Ark Elvin Academy at a roundtable session with the Education Select Committee; submitting written evidence to the Health and Social Care Select Committee Inquiry into children’s mental health; participating in the Department for Education’s Mental Health in Education Action Group; and giving evidence to the Lords Select Committee on Public Health on the role of public services in addressing child vulnerability. For Children’s Mental Health Week, now in its seventh year, we chose the theme of ‘Express Yourself’ which was particularly pertinent, landing as it did during the third national lockdown. This national ’week’ provided a platform for debate and reflection on the role of self-expression in providing a vital emotional outlet at a challenging time. We saw an unprecedented demand for our school and parent resources, and the range of activities across the week generated widespread national media coverage, mentions in the House of Commons and the Scottish Parliament, support from our Royal Patron, and the first engagement with our new ambassador, Lemn Sissay. Against all measurements, this year’s ‘Week’ was our most successful to date.

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PLACE2BE (A company limited by guarantee)

Delivery against Commitment to Diversity: During the year, we have put even greater focus on ensuring that everything we do is fully inclusive. We listened to the strength of feeling generated by the harsh realities of events across the world and at home – and responded to the need for greater inclusivity and equality across society, and within our own workplace and sector. Like many organisations, we grappled with the challenges of approaching such areas of sensitivity by opening up more channels and opportunities for debate and discussion around areas for change and growth. From this, we defined and agreed the five areas within our diversity and inclusion action plan, which we communicated to staff and published on our website, to demonstrate our genuine commitment and to holding ourselves to account. Beyond our own organisation, Place2Be also continued to lead the therapy sector’s Diversity and Inclusion Coalition with its initial focus on addressing gender and ethnic disparity in the therapeutic sector (see above).

Investment in technology : Investment continued in 2020/21 to ensure we have robust and efficient infrastructure and tools to support our teams and service users. Our IT support team performed well in ensuring that all staff were supplied with the right technical equipment to enable them to continue to work remotely and securely. In addition we continued to ensure our systems are better integrated and aligned to our business needs. We established, and are incredibly grateful to the members of, our Technology Advisory Group, chaired by our Trustee Aamir Ahmad. We have also benefited hugely from the pro bono expertise of the Bank of America in helping to shape our IT infrastructure change programme, which we are implementing in phases over the next three to five years. The IT strategy is underpinned by our data charter, to ensure all staff engage with the need to carefully manage the information we’re saving in our shared systems. In addition, the launch of our new recruitment system has enabled us to be more fully inclusive in our processes to attract and retain high-calibre professionals, from a more diverse range of backgrounds.

Staff Wellbeing: Place2Be is committed to promoting positive mental wellbeing at work. We actively seek to foster a culture of care for employees to feel positive, resilient and productive at work. This has been so important in the past year, for both our frontline and t staff. We created a dedicated wellbeing section on our intranet and boosted our programme of staff wellbeing activities across the year, with regular check-in sessions, many informal, to ensure staff had an opportunity to voice concerns and had a space for reflection and keeping in touch with colleagues during lockdown. We also actively promoted our Employee Assistance Programme (a free and confidential support service) throughout the year.

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PLACE2BE (A company limited by guarantee)

2021/22 Forward plan

In the financial year 2021/2022 we will continue to focus on the four priority areas outlined in our business strategy. This will be a period of net investment in our capabilities and we anticipate a controlled net drawdown of over £2.0m in the year. Specific key activity for the year ahead includes:

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PLACE2BE (A company limited by guarantee)

Section 2b: Organisational purpose and public benefit

Place2Be’s objectives and activities are in line with the Charity Commission’s guidance on public benefit. The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing Place2Be’s objectives and activities.

Our services fall within the general charitable purpose of the advancement of health and education, specifically by providing mental health services in schools. Our immediate beneficiaries are the children and young people, as well as their families and school communities.

The Trustees meet annually to discuss strategy and to review the strategic plan in the light of the external environment. We review progress against the plan quarterly and the Board receive regular updates. In this way the purpose of the organisation is kept in focus and activities to increase the reach and impact are planned and monitored.

Leadership

All members of the Board of Trustees are committed to Place2Be’s aims and values and understand their role as Place2Be’s strategic leaders. The strategic business of the charity is discussed at quarterly Board meetings. Most Trustees are also involved in sub-committee meetings which provide an opportunity to provide strategic leadership in more depth. In some cases, Trustees are involved in particular strategic actions, such as the Technology Advisory Group in light of the significant investment in this area and the establishment of a People and Culture Committee in light of increased focus on our people agenda as a growing, expanding organisation. The CEO directs Place2Be’s activities, supported by the Executive team which meets weekly and formally on a monthly basis.

Our staff and pay structures

During the year to March 2021 we had an average of 520 staff, an increase of 4 from last year.

Place2Be is committed to paying staff a fair and appropriate salary, to ensure we can attract and retain people with the skills and abilities to deliver our objectives. Our approach is guided by the following principles:

Remuneration policy is set by the People and Culture Committee, who have oversight of its implementation and application. Specific responsibilities include:

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PLACE2BE (A company limited by guarantee)

Section 2c: Income, Expenditure and Balance Sheet

Summary of Performance

Income for the year amounted to £19.3m (2019/20: £23.2m), expenditure totalled £18.9m (2019/20: £18.4m) and a gain in the revaluation of Angel Gate of £110k (2019/20: loss of £279k) resulted in an overall net movement in funds of £450k, increasing the total funds balance to £15.8m.

Principal Sources of Funding

Taking into consideration the generous one off £5m donation pledged by The Mohn Westlake Foundation in the prior year, the income growth trajectory steadily continued into 2020/21.

----- Start of picture text -----
INCOME: 5 YEAR GROWTH
£23.2m
£19.3m
£17.3m
£16.7m
£13.8m
2016/17 2017/18 2018/19 2019/20 2020/21
Income Mohn Westlake £5m
----- End of picture text -----

The greatest proportion of income was generated from Voluntary Income £8.8m (2019/20: £12.9m) which accounts for 46% (2019/20: 56%) of total funds. Income from Schools of £7.9m (2019/20: £7.6m) increased over the year, reflecting the increasing scope, and reach of our activities aided by technological developments. The delivery of our in-person training was heavily impacted by pandemic restrictions, resulting in lower levels of activity. An analysis of principal incoming resources is shown in notes 3 to 6 of the accounts and graphically below.

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PLACE2BE (A company limited by guarantee)

INCOME 2020/21

----- Start of picture text -----
4% [2% 2%]
8%
TOTAL
43%
INCOME
£19.3m
Voluntary £8.2m
School £7.9m
Local Government £1.5m 41%
Central Government £0.7m
Training £0.5m
Gifts in Kind £0.4m
Investment £0.004m
----- End of picture text -----

Expenditure on Charitable Activities

Expenditure on Charitable Activities increased from prior year and totalled £18.1m (2019/20: £17.4m), driven mainly by a 5% increase in Mental Health Services spend, which accounts for 85% of our total costs.

EXPENDITURE ON CHARITABLE ACTIVITIES 2020/21

----- Start of picture text -----
3%
12%
EXPENDITURE ON
CHARITABLE
ACTIVITIES
Mental health services & support £18.1m
£15.4m
Learning & development £2.1m
85%
Raising awareness & promoting
understanding £0.6m
----- End of picture text -----

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PLACE2BE (A company limited by guarantee)

Balance Sheet

The main changes in the Balance Sheet compared to previous years are as follows:

£000s 2019/20 2020/21 Notes
Fixed assets 7,086 7,252 We have invested in IT equipment and development
of the website and also saw a gain in the value of our
investment property at Angel Gate.
Debtors 8,184 5,126 Debtors include the remaining £1.6m instalment of
the £5m donation from the Mohn Westlake
Foundation (£3.3m in the previous year).
Cash at bank and in hand 2,908 5,801 Cash balances have continued to improve due to
good working capital management.
Creditors - Amounts falling
due within one year		 (2,229) (1,820) Decreased trade creditors resulting from software
invoices received in advance in the previous year.
Creditors - Amounts falling
due after more than one
year		 (646) (606) We have made scheduled payments on our loan
relating to the original purchase of our investment
property at Angel Gate
Net Assets 15,303 15,753

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PLACE2BE (A company limited by guarantee)

Reserves

Place2Be reserves, comprising restricted, designated, and unrestricted funds are described and summarised in note 18.

During the year there was a net increase of £450k in group charitable funds bringing the total value of funds to £15.8 million.

Restricted funds have decreased from £1.1 million to £0.9m and consequently this has improved our proportional mix of restricted to unrestricted funds.

Unrestricted Charitable Funds of £4.7m represent the reserves available to the charity as its core capital. The Trustees and specifically the Finance & Audit Committee monitor the level of Unrestricted Charitable Funds in the context of the level of Place2Be’s business and risks, with a specific review once each year. At 31 March 2021, Unrestricted Charitable Funds are approximately comparable to three months’ worth of operating costs, which Trustees view to be adequate.

Unrestricted designated reserves include the Development and Strategic Priorities Fund of £4.5m. The purpose of this fund is to assist growth of the organisation’s future capability. Place2Be has drawn down £0.7m of this fund during the year in order to support the delivery of the business plan with investment into infrastructure, equipment and systems.

The Property Fund of approximately £5.5 million has marginally increased due to the revaluation of Angel Gate. This fund represents the amount of Place2Be’s own funds that are invested in property assets.

Section 2d: Key Risks and Uncertainties, with plans and strategies for managing those risks

The Trustees are responsible for ensuring that there is an effective system for the management of risk within Place2Be and have implemented a broad range of risk management processes. The Risk Committee meets quarterly to review current risks across all activities and departments.

Our key risks are:

Safeguarding

As we work with vulnerable children and families, safeguarding is of the greatest importance to Place2Be and remains our primary risk. We have a comprehensive framework of consents, controls, policies and reviews to manage the associated risks and act promptly and appropriately if concerns are raised.

All school-based staff and counsellors on placement are required to complete a safeguarding induction course before commencing their role. This course provides training in how to apply the safeguarding policy and procedure. Following this, the organisation has a requirement for annual refresher safeguarding training. Our partner schools are provided with an explanation of our safeguarding procedure before they begin working with us. To ensure policies are adhered to, safeguarding practice is reviewed via line manager supervision, internal audit processes and externally commissioned audits. In addition we update clinical training for staff and Counsellors on Placement based on real safeguarding cases, issues and risks identified in our practice and also national trends.

We keep the capacity of our Safeguarding team under review and expand in line with growth in school numbers and the complexity of casework.

The Risk Committee and the Board itself receive quarterly updates on all matters pertaining to safeguarding.Place2Be commissions an independent external safeguarding audit every two years.

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PLACE2BE (A company limited by guarantee)

Financial

As with any charitable organisation, we need to manage and mitigate financial risks. Our financial model is based on a mix of income streams – schools, commissioners and voluntary income. In addition we continually review and refine our fundraising portfolio, and this has become even more critical as a result of Covid-19. We have adapted our income generating strategies accordingly, placing less emphasis on events. We are very aware of the ever increasing pressure on school budgets and work closely with partner schools to ensure that we provide them with affordable high-quality services. We continue to control our expenditure very carefully to ensure that we can make the maximum impact on the mental health of children and young people within the resources we have available. We have recently restructured the finance department to increase its capacity for control and business analysis.

Counsellors on Placement

One area of primary risk is our reliance on Counsellors on Placement, as part of their training, to provide our one-to-one support. The risk is associated with sourcing, selecting, training and retaining sufficient Counsellors on Placement to deliver the

service. The quality of Place2Be’s own training offer and supervision structure ensures that there is mutual benefit to both the Charity and the Counsellor on Placement. We build relationships with academic institutions that provide training in counselling to make sure that the opportunity we offer is made available to trainees in geographical areas where we have a need. We work closely with the British Association of Counselling and Psychotherapy (BACP) and the UK Council for Psychotherapy (UKCP) to make sure that our placement programmes and training are relevant and valued by the profession.

Competitive environment

The need for our services continues to grow and when set against the backdrop of the rapidly changing world due to the global pandemic there remains the need for Place2Be to continually evolve. In addition there is an ever and rapidly changing landscape with providers of online services, private as well as public sector, now beginning to provide some services for young people’s mental health. Place2Be must continue to build on the experience and evidence built up from service provision embedded in schools for over 25 years; continue to embrace technology; strong partnerships and relationship to commissioners and schools.

Data security

Over the past two years there has been a marked rise in the number of hacking and ransomware attacks perpetrated by cyber criminals on institutions. Many educational and not for profit institutions have been targeted. Place2Be has put more resources into the area of cyber security by introducing measures such as multi-factor authentication and single sign-on for systems which hold sensitive data. A five year IT and data strategic plan is being implemented which will improve system interoperability and security but the risk of cyber-attacks will continue to remain high. Data security risk and practical measures are considered by the Risk Committee and the Technology Advisory Group convened by the Finance and Audit Committee.

Section 3: Governance and management

Place2Be is governed in accordance with its Memorandum and Articles of Association by the Board of Trustees. The Memorandum and Articles of Association were last amended on 18 July 2007.

Since the Charity Governance Code was launched on 13 July 2017, Place2Be has utilised the Code as a tool to reflect upon its current governance structures and consider the ways in which the Charity and its Trustees currently apply the seven principles and recommended practice.

We know that we are best placed to fulfil our vision, mission and strategic goals with effective governance in place. The Board

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PLACE2BE (A company limited by guarantee)

has therefore established a solid foundation in governance in which all Trustees are clear about their roles and legal responsibilities, are committed to supporting the charity to deliver its objects most effectively for its beneficiaries’ benefit and contribute to the Charity’s continued improvement. We were pleased to be invited to participate in the roundtable hosted by the Charity Commission CEO and Board Members as part of their exercise to consult the sector ‘We want to help ensure that the sector is resilient and able to play its part as the country recovers from the impact of the pandemic ... to support the Commission’s work to ensure that charities have the tools that they need to succeed and to understand how charities can thrive in a changing world.”

The Charity already applies the Code’s measures. These include leading the development of a long term strategy and monitoring progress against that strategy, clear risk management processes and a scheme of delegation of authority which defines boundaries for the Executive’s ability to conduct business.

We continue to consider the ways in which Place2Be can continue continuously improve the Charity’s governance standards, increase our overall effectiveness as an organisation and comply fully with this new code.

Integrity

Place2Be takes our responsibility to protect the privacy and safety of everyone we work with very seriously. Integrity is one of our core values and is applied to everything we do, from ensuring client data is kept safely, to having in depth and robust policies to protect staff and those we work with. We maintain a register of any conflicts of interests which may arise for Trustees and other Trustees then decide how to deal with these.

Board Effectiveness

The Trustees select and appoint individuals to act as new Trustees, based upon a skills review which identifies the skills needed on the Board. New Trustees are then sought based on the results of the skills review. An initial term of four years is usual, with review and possible extension of a further four years, and thereafter at the Board’s discretion. The Chair undertakes reviews with each Trustee annually. As the Charity is a company limited by guarantee with no share capital, Trustees have no personal interest in it. New Trustees undertake an induction programme including a school visit, meetings with the CEO and senior management, and attendance at events.

Equality, Diversity and Inclusion

The organisation is committed to increasing the diversity of Trustees, employees, trainees and counsellors on placement. Place2Be continues to Chair the Diversity and Inclusion Coalition of industry bodies whose focus remains on working together to remove the barriers for people from ethnically diverse backgrounds and men joining the counselling and psychotherapy professions. Our internal diversity and inclusion staff steering group meets six weekly to ensure we listen to, and incorporate the views and lived experience of all colleagues across Place2Be.

We have a robust Equality, Diversity, and Inclusion plan which the executive directors are accountable for. This plan focuses on attaining continuous improvement in our practice, and mental health workforce, our staff, how we learn and how we engage and promote the work we do.

We performed our fourth gender pay gap report this year. This reported that the mean gender pay gap at Place2Be had increased from 12.6% to 14.3% between 05 April 2019 and 2020. Since the number of male employees is relatively low some small movements can have a large impact on the figures. In the year, the executive team contained two members of male staff as compared with only one at the date of the last report. Removing this impact would have resulted in a narrowing percentage gap over the two years. The gap for the median or ‘middle’ employee reduced from 6.3% to 6.2% over the time period which further indicates that it is movement at the extremities which is driving the changes in the mean pay gap.

We performed a review of ethnicity pay gap using metrics available to us from voluntary disclosure for our staff. There is currently no statutory or regulatory requirement to publish statistics although the government has previously stated a desire to introduce similar reporting requirements to those for gender. Our figures for 5 April 2021 indicate that the mean gap has reduced from 2.4% to 1.1% over the previous twelve months. The median gap is zero indicating that there is no gap for the

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PLACE2BE (A company limited by guarantee)

‘middle’ employee. We accept that these figures are dependent on our staff’s willingness to disclose the information and in order to improve the reliability of the measure we have encouraged staff to respond even if they select ‘choose not to say’. The percentage of staff for which we have no data reduced from 12% in April 2020 to just 7% in April 2021.

We are undertaking a number of measures to improve the ethnicity pay gap, including continuing to operate a competencybased approach to recruitment and promotion. We undertook a Pay and Benefits review during the autumn of 2019 which involved analysing all job descriptions and deriving pay points for each post and recommended pay band. The review also introduced a fair and transparent system for assessing newly created roles, using both internal and external benchmarking. In addition, our new Recruitment Applicant Tracking System anonymises gender, ethnicity and educational establishment. We have a specific recruitment budget targeted at inclusive recruitment and we have adopted other measures designed to reduce systematic hiring bias such as the “Rooney” Rule.

Openness and Accountability

The Board and the Executive team recognise the importance of openness and transparency in communications with funders, donors, commissioners, schools and beneficiaries. Our annual accounts and report are published in full on our website, and we respond quickly and fully to any queries about our work whilst maintaining strict client confidentiality. We have a disclosure policy which supports members of staff to raise any concerns they may have.

Decision making and control

The Board makes sure that its decision-making processes are informed, rigorous and timely and that effective delegation, control and risk assessment and management systems are set up and monitored.

Board papers are circulated in advance of meetings so that Trustees have the opportunity to consider matters on the agenda and where appropriate consult externally. The Board maintains an up-to-date Contractual & Financial Delegation and Sign Off Policy to ensure that Trustees retain control of the charity while enabling the Executive to deal with the day-to-day running of the charity in a timely way.

Board meetings are run in an open manner so that everyone can have their say, and Trustees with relevant skills are appointed to sub-committees where issues are addressed in more depth. The Board has sub committees with delegated authority for: Finance and Audit, Practice and Quality, Risk, People and Culture and Nominations. Responsibility for the scrutiny of salaries and other duties was transferred from the Remuneration Committee to the People and Culture Committee during the year. In addition, there is a Research Advisory Group, a Development Advisory Group for Scotland, a Technology Advisory Group and plans for a Parenting Advisory Group as a key area of practice development.

Fundraising code of practice

We value our supporters and donors and put them at the centre of all our fundraising activity. We are registered with the Fundraising Regulator self-regulatory scheme, and as members we follow the Institute of Fundraising’s Codes of Fundraising Practice and comply with the key principles embodied in the codes. and are committed to adhering to the Code of Fundraising Practice.

Fundraising activities are not outsourced to professional fundraisers or commercial participators. Place2Be’s fundraising team adheres to Section 1.2 of the Code of Fundraising Practice and is committed to protecting vulnerable donors. We are not aware of any occasion when we have been in breach of the Fundraising Code of Practice.

Place2Be’s Commitment to the Environment

The Executive and Trustees have approved Place2Be’s Green Charter, in which we committed to reducing the organisation’s environmental impact by taking the following actions:

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PLACE2BE (A company limited by guarantee)

Performance against these targets is now being monitored on a quarterly basis. However, due to Covid-19, and the closure of our offices for much of this period, our results will be skewed.

Investment policy

Place2Be, through the Finance and Audit Committee, has adopted a prudent approach to the investment of surplus funds, investing primarily in a small number of secure cash interest bearing deposits. The need to spread risk is balanced against the practicalities of administering numerous accounts. The Trustees’ investment policy considers social, environmental and ethical considerations. The Trustees consider the performance of its cash and investments was adequate during the year.

Section 4: Going concern statement

The Trustees have reviewed the circumstances of Place2Be and of the group and consider that adequate resources are available to fund the activities of the group for the foreseeable future. Twelve-month rolling cashflow projections are included in management’s regular financial reports to Trustees, and income and expenditure is monitored against budget.

The Trustees have given due consideration to the charity’s ability to operate and to its financial sustainability including the potential impacts of Coronavirus. The Government’s work from home guidelines issued in March 2020 necessitated a change in working patterns for all of our staff and in response to this the charity ensured that all staff could work remotely and adjusted its service delivery model to provide remote support where children and young people were based at home. Revised financial forecasts were prepared taking into account the potential implications of an extended period of lockdown on the charity’s main income streams and modelling a number of different scenarios. These forecasts have been updated regularly and the Trustees are satisfied that there is sufficient resilience in the forecasts to demonstrate financial sustainability for the foreseeable future.

The Trustees are of the opinion that the charity and the group are a going concern and the accounts have been prepared on this basis.

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PLACE2BE (A company limited by guarantee)

Section 5: Employee Involvement and Employment of the Disabled

Place2Be has established a Staff Consultative Forum so that employees can engage and contribute views on issues affecting the effective running of the organisation. This is currently in place for staff based at our head office and we have plans to expand this to our school-based staff. Staff provided input to the refresh of our business plan and to the management restructure which followed.

We have an Equality, Diversity and Inclusion Steering group, which meets every six weeks to discuss and champion our EDI action plan.

We are committed to inclusive recruitment practices, and we take positive action by putting in place measures to support the recruitment and promotion of underrepresented minorities. 3.11% of our employees declare on record as having a disability and we have a proactive People team that supports our managers and staff in responding to reasonable adjustments.

Place2Be has policies relating to employee welfare and support including:

Our Equality, Diversity and Inclusion Policy has a specific section on disabilities and the support offered to disabled staff and those that become disabled during their employment.

We have active staff voice channels. We conduct regular staff surveys including four in year mini pulse surveys and as well as an EDI temperature check. Based on the feedback, we have focused on four areas: improving internal communication, addressing workload, improving wellbeing and enhancing leadership. Our last pulse survey showed significant improvement in all areas.

We introduced a range of connecting and discussion forums including a quarterly town hall meeting attended by all staff, virtual “coffee meetings” with the Executive director team as well as a leadership forum. During the pandemic, we maximised the use of Zoom, using this to attain high engagement levels.

We continue to prioritise the well-being of our staff team, by providing a 24-hour seven day a week confidential counselling service. In addition, we run a reciprocal mentoring programme which has been well received by staff and we provide channels for accessing mentoring and buddying across all teams.

We encourage our staff to get involved in projects through working groups. We have established a digital champion working group which serves a channel for staff to contribute as well as influence our communication strategy.

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PLACE2BE (A company limited by guarantee)

Section 6: Statement of Trustees’ Responsibilities

The Trustees as Directors are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the result of the company for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Section 7: Statement of disclosure to auditors

Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor.

So far as the Trustees are aware, there is no relevant audit information of which the company’s auditors are unaware, and the Trustees have taken all the steps that they ought to have taken, in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Trustees of Place2Be on 30 September 2020, including in their capacity as company directors approving the Directors’ and Strategic Reports contained therein, and is signed as authorised on its behalf by:

Simon Mackenzie Smith Chair of Trustees 7 October 2021

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PLACE2BE (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLACE2BE

Opinion

We have audited the financial statements of Place2Be for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Cash Flow Statement 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 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

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PLACE2BE (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLACE2BE (CONTINUED)

Other information

The Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

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(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLACE2BE (CONTINUED)

Responsibilities of Trustees

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

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

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 20016 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act

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PLACE2BE (A company limited by guarantee)

2006, the Charities Act 2011 and The Charities and Trustee Investment (Scotland) Act 2005, together with the Charities

SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations included General Data Protection Regulation (GDPR), employment legislation, Health and Safety legislation and Child Protection legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Audit Committee about their own identification and assessment of the risks of irregularities, agreeing income to contracts or other supporting evidence on a sample basis, testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Julia Poulter Senior Statutory Auditor

For and on behalf of Crowe U.K. LLP Statutory Auditor Date: 15th October 2021

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PLACE2BE

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

4
5
6
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):Gains/
(losses) on revaluation of fixed assets
Net movement in funds
of Reconciliation funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Note
Income from:
Donations and legacies
Charitable activities
Investments		 7,223
8,406
4
15,633
876
14,237
15,113
520
110
630
14,176
630
14,806
Unrestricted
funds
2021
£000		 1,952
1,720
-
3,672
-
3,852
3,852
(180)
-
(180)
1,127
(180)
947
Restricted
funds
2021
£000		 9,175
10,126
4
19,305
876
18,089
18,965
340
110
450
15,303
450
15,753
Total
funds
2021
£000		 12,953
10,213
18
23,184
972
17,403
18,375
4,809
(279)
4,530
10,773
4,530
15,303
Total
funds
2020
£000

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 29 to 50 form part of these financial statements.

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PLACE2BE (A company limited by guarantee)

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
Investments
Investment property
11
13
12
Current assets
14
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
16
Total net assets
Charity funds
Restricted funds
Unrestricted funds
17
17
Total funds		 5,126
5,801
10,927
(1,820)		 2021
£000
2,691
1
4,560
7,252
9,107
16,359
(606)
15,753
947
14,806
15,753		 8,184
2,908
11,092
(2,229)		 2020
£000
2,635
1
4,450
7,086
8,863
15,949
(646)
15,303
1,127
14,176
15,303

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

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

................................................ ................................................ Simon Mackenzie Smith Catherine Roche Chair Chief Executive Date: 7 October 2021

The notes on pages 29 to 50 form part of these financial statements.

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PLACE2BE (A company limited by guarantee)

CHARITY BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
Investments
Investment property
11
13
12
Current assets
14
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
16
Total net assets
Charity funds
Restricted funds
Unrestricted funds
17
17
Total funds		 5,125
5,768
10,893
(1,812)		 2021
£000
2,691
2
4,560
7,253
9,081
16,334
(606)
15,728
946
14,782
15,728		 8,184
2,910
11,094
(2,230)		 2020
£000
2,634
2
4,450
7,086
8,864
15,950
(646)
15,304
1,127
14,177
15,304

The charity's net movement in funds for the year was £425,185 (2020: £4,530,452).

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

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

................................................ ................................................ Simon Mackenzie Smith Catherine Roche Chair Chief Executive

Date: 7 October 2021

The notes on pages 29 to 50 form part of these financial statements.

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PLACE2BE (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
£000
3,649
(716)
(716)
(40)
(40)
2,893
2,908
5,801		 2020
£000
1,351
(912)
(912)
(92)
(92)
347
2,561
2,908

The notes on pages 29 to 50 form part of these financial statements

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PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

Place2Be is a private, limited by guarantee, company (registered number 02876150), which is

incorporated in England and domiciled in the UK. The address of the registered office is 175 St. John Street, Clerkenwell, London, EC1V 4LW.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) (Charities SORP (FRS 102)) and the Companies Act 2006.

Place2Be meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the charity and its subsidiary undertakings. The results of the subsidiary are consolidated on a line by line basis.

The Trustees have reviewed the circumstances of Place2Be and of the group and consider that adequate resources are available to fund the activities of the group for the foreseeable future. Twelve-month rolling cashflow projections are included in management’s regular financial reports to Trustees, and income and expenditure is monitored against budget.

The Trustees have given due consideration to the potential impacts of Coronavirus on the charity’s ability to operate and to its financial sustainability. The Government’s work from home guidelines issued in March 2020 necessitated a change in working patterns for all of our staff and in response to this the charity ensured that all staff could work remotely and adjusted its service delivery model to provide remote support where children and young people were based at home. Revised financial forecasts were prepared taking into account the potential implications of an extended period of lockdown on the charity’s main income streams and modelling a number of different scenarios. These forecasts have been updated regularly and the Trustees are satisfied that there is sufficient resilience in the forecasts to demonstrate financial sustainability for the foreseeable future.

The Trustees are of the opinion that the charity and the group are a going concern and the accounts have been prepared on this basis.

2.2 Basis of consolidation

These financial statements consolidate the results of the charity and its wholly owned subsidiary, on a line by line basis. All intragroup transactions, balances, income and expenses are eliminated in full on consolidation.

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

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PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.3 Income

Voluntary Income

Income received by way of donations is accounted for when the conditions for its receipt have been met, there is reasonable probability of receipt and the amount receivable can be reliably estimated.

Donated goods, facilities and services

Gifts in Kind and donated services are included at the value to Place2Be where this can be quantified. Where this is possible, this is based on estimated open market value. The value of services provided by volunteers is not included in these accounts. Further analysis is included in note 3.

Grants Receivable

Grants are recognised in the SoFA when received or when Place2Be becomes entitled to receive them. Grants that have been received will be treated as deferred income where there is a specific requirement in the terms of the grant that the income recognition is dependent on certain activities being completed in a future accounting period.

Training Income

Training income is recognised when the training has been delivered. Amounts invoiced in advance are held as deferred income until the training is delivered.

School Services Income

Schools are typically invoiced in April for the year to end of March so as to be consistent with Place2Be’s financial year end. However, in some instances invoicing covers the school year to end August. In these instances revenue is pro rated to recognise income attributable to the period.

2.4 Resources expended

Resources expended are accounted for on an accruals basis and include irrecoverable VAT. All costs, other than those specifically related to the costs of generating funds, are regarded as being incurred in connection with charitable activities and include costs of services and support costs and depreciation. Costs of generating funds include staff costs and the direct costs of fundraising activities. Support costs have been allocated in categories consistent with the management and operations of the organisation. Costs are categorised into the following categories: Mental health services and support, Learning and development and Raising awareness and promoting understanding.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the consolidated statement of financial activities as the related expenditure is incurred.

Page 30

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.6 Corporation tax and taxation

Income tax expense in years when not nil represents the tax currently payable. Any taxable profit only arises from any non- charitable trading activity undertaken. The Company's liability for current tax in years when not nil is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Irrecoverable VAT is included in Resources Expended.

2.7 Tangible fixed assets and

Tangible fixed assets are stated at cost less depreciation.

Refurbishment costs incurred as part of the leasehold improvements of 175 St. John Street have been capitalised and will be depreciated over the remaining length of the lease. All new equipment purchases with a capital value of more than £5,000, whether financed by the receipt of grants or paid for out of unrestricted funds, are depreciated on a straight line basis over 3 years. Smaller assets are treated as revenue expenditure in the year of purchase. Gifts in Kind comprising equipment donated to Place2Be are fully written off in the period in which the gift is received. There were no asset disposals in the year.

2.8 Investments

Investments represent investment in Place2Be Trading subsidiary and funds held on short term deposit. Investment in the subsidiary is held at cost less impairment. Short term deposits are shown at market value and changes in value in the year, whether or not realized, are reported in the Statement of Financial Activities.

2.9 Investment properties

Property investments are valued by external professional advisers and on the basis of market value as defined in the RICS Appraisal and Valuation Manual ("The Red Book"). Independent valuations of relevant property investments have been carried out at 31 March 2021 by Foxglove Property Consultants Ltd.

2.10 Financial instruments

Place2Be has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors and accrued income. Financial liabilities held at amortised cost comprise bank loans and overdrafts, trade and other creditors and accruals.

At the balance sheet date the Group held financial assets at amortised cost of £8,204k (2020: £7,940k). Financial assets at fair value through income or expenditure of £nil (2020: £nil) and financial liabilities at amortised cost of £1,641k (2020: £1,575k).

Page 31

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.11 Pensions

Place2Be offers a group personal pension scheme through a major pension provider. This is open to all staff that meet the government's auto-enrolment eligibility criteria. Enrolled individuals are required to make a contribution to the scheme of at least 3% of their basic monthly pay with Place2Be contributing a further 5% of basic monthly pay to the scheme for each enrolled employee.

Pension fund contributions are paid over on a monthly basis to the respective scheme provider. The company encourages staff to obtain independent financial advice before entering the scheme. The cost of employer contributions is shown in note 10.

2.12 Fund accounting

Unrestricted Funds are funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.

Designated Funds are unrestricted funds that have been set aside by the Trustees of the Charity for specific purposes.

Restricted Funds are those which are used in accordance with specific restrictions imposed by donors or which have been raised for particular purposes.

2.13 Key judgements and uncertainties

In the application of the Charity’s accounting policies, which are described in note 1, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

3. Services and facilities donated free of cost

The Charity gratefully acknowledges receipt of voluntary services provided by clinicians on placement and a wide range of advisers and other voluntary supporters.

Included in income is intangible income of £381k for the year (2020: £378k), representing gifts in kind, primarily in respect of legal and professional services estimated by the providers at £223k (2020: £378k). This income and corresponding expenditure is included in the accounts under appropriate headings and contained within the analysis reported in notes 4-9.

Page 32

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Income from donations and legacies

Companies and corporate trusts
Other trusts and charities
Corporate gifts in kind
Government grants
Private donations and events		 Unrestricted
funds
2021
£000
2,637
2,426
381
73
1,706
7,223		 Restricted
funds
2021
£000
471
504
-
557
420
1,952		 Total
funds
2021
£000
3,108
2,930
381
630
2,126
9,175		 Total
funds
2020
£000
3,228
7,378
378
-
1,969
12,953

5. Activities in Furtherance of Charity

Schools
Government and Clinical Commissioning Groups
Training		 Unrestricted
funds
2021
£000
7,954
-
452
8,406		 Restricted
funds
2021
£000
-
1,720
-
1,720		 Total
funds
2021
£000
7,954
1,720
452
10,126		 Total
funds
2020
£000
7,638
1,572
1,003
10,213

6. Investment income

Unrestricted Total Total
funds funds funds
2021 2021 2020
£000 £000 £000
Investment income 4 4 18

Page 33

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Cost of generating funds

Staffing costs
Advisors and consultants
Event costs
Other
Total 2021		 Unrestricted
funds
2021
£000
774
20
12
70
876		 Total
funds
2021
£000
774
20
12
70
876		 Total
funds
2020
£000
661
63
147
101
972

8. Charitable activities

Direct costs
Central costs
Total 2021
Total 2020		 Mental
health
services &
support
2021
£000
11,396
3,977
15,373
14,577		 Learning &
development
2021
£000
1,560
544
2,104
2,162		 Raising
awareness &
promoting
understanding
2021
£000
454
158
612
664		 Total
funds
2021
£000
13,410
4,679
18,089
17,403		 Total
funds
2020
£000
13,629
3,774
17,403

9. Auditor's remuneration

2021 2020
£000 £000
Fees payable to the charity's auditor in respect of:
Auditor's remuneration - audit 25 20
Auditor's remuneration - other 10 21

Page 34

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Group
2021
£000
12,698
1,124
605
14,427		 Group
2020
£000
12,233
1,059
575
13,867

Included in the above are redundancy and termination costs in the year to 31 March 2021 of £151k relating to 40 members of staff (2020: £109k and 25 members of staff). £54k of costs were paid after the year end.

The average number of persons employed by the charity during the year was as follows:

Operations, Training and Research
Fundraising
Support (including HR, Finance and IT)		 Group
2021
No.
455
17
48
520		 Group
2020
No.
458
15
43
516

The average headcount expressed as full-time equivalents was:

Operations, Training and Research
Fundraising
Support (including HR, Finance and IT)		 Group
2021
No.
307
16
43
366		 Group
2020
No.
308
14
40
362

Page 35

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2021 2020
No. No.
In the band £60,001 - £70,000 4 6
In the band £70,001 - £80,000 4 1
In the band £80,001 - £90,000 1 1
In the band £90,001 - £100,000 1 1
In the band £100,001 - £110,000 1 1

Pension costs associated with those staff in the higher income bands totalled £43k (2020: £32.7k).

Remuneration of Key Management Personnel

The total value of employment benefits including salary, pension and employer’s National Insurance received by Trustees and the executive team:

2021 2020
£000 £000
Trustees - -
Executive team 707 635

No expenses were reimbursed to Trustees during the year (2020: 4 Trustees totalling £1,613).

In 2020, an additional £48.8k was paid to contractors acting as key management in an interim capacity.

Page 36

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

11. Tangible fixed assets

Group and Company

Cost or valuation
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Long
leasehold
Land &
Buildings
£000
2,662
18
2,680
497
288
785
1,895
2,165		 Computers
and Other
assets
£000
800
698
1,498
330
372
702
796
470		 Total
£000
3,462
716
4,178
827
660
1,487
2,691
2,635

All fixed assets are used for direct charitable purposes.

Page 37

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. Investment property

Angel Gate
Group £000
Valuation at 1 April 2020 4,450
Surplus on revaluation 110
At 31 March 2021 4,560
Angel Gate
Charity £000
Valuation at 1 April 2020 4,450
Surplus on revaluation 110
At 31 March 2021 4,560

The 2021 valuation of the Angel Gate property was made on an open market value for existing use basis by Foxglove Property Consultants Ltd.

The property was reclassified as an investment property in 2018 on the basis that the property was no longer being used for operational purposes by the charity.

Page 38

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Investments

Group
Cost or valuation
At1 April 2020
At 31 March 2021		 1
1
Charity
Cost or valuation
At 1April 2020
At 31 March 2021		 £000
2
2

Investments for the Charity are represented by £1k in short term deposits and £1k in Place2Be Trading subsidiary. The latter is removed on consolidation to show an overall Group position of £1k.

14. Debtors

Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2021
£000
609
-
27
4,490
5,126		 Group
2020
£000
1,333
-
32
6,819
8,184		 Company
2021
£000
609
4
23
4,489
5,125		 Company
2020
£000
1,333
-
33
6,819
8,185

Included within Prepayments and accrued income is £2.1m representing prepaid rent on 175 St. John Street and accrued income of £1.7m representing the final tranche of the £5m donation from The Mohn Westlake Foundation receivable after the year end.

Page 39

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2021
£000
122
369
-
319
128
882
1,820		 Group
2020
£000
122
727
-
302
80
998
2,229		 Company
2021
£000
122
369
-
314
129
878
1,812		 Company
2020
£000
122
727
1
302
80
998
2,230

Deferred income analysis:

Deferred income in respect of school service funders and training comprises services invoiced in advance of services rendered.

School service funders
Training
Grant funders		 2020
£000
252
265
-
517		 Released in
the year
£000
(252)
(265)
-
(517)		 Deferred in
the year
£000
304
162
-
466		 Total
funds
£000
304
162
-
466

Page 40

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Creditors: Amounts falling due after more than one year

Bank loans Group
2021
£000
606
606		 Group
2020
£000
646
646		 Company
2021
£000
606
606		 Company
2020
£000
646
646

This assumes a repayment of £122k per annum and an interest rate of 3.1%.

The loan represents the mortgage of Angel Gate with Future Builders England Ltd at Bank of England base rate plus 3%, an effective variable rate of 3.1%. This mortgage was repaid and replaced post year end in July 2021 by a fixed rate loan agreement with Lloyds Bank PLC, repayable over 10 years at a fixed rate of 2.52%.

During the financial year a capital and interest repayment holiday of 6 months was granted by Futurebuilders England Ltd to support Place2Be cashflow whilst responding to the impact of the Covid-19 virus.

Commitments relating to Angel Gate property:

Not later than one year
Later than one year and no later than five years
Later than five years		 2021
£000
122
490
116
728		 2020
£000
122
490
156
768

Page 41

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds

Statement of funds - current year

Balance at 1
April 2020
£000
Designated
funds
Property
Development
and Strategic
Future Awards
Ceremonies
5,496
5,178
59
10,733
General
3,443
Unrestricted
funds
14,176
Restricted
funds
Voluntary Income & School
Service
The Art Room
Grenfell
Banbury Project
Mental Health
Champions
Beaverbrook Foundation
DHSC
Paul Hamlyn Foundation
BMR Foundation
Tim Robinson
Fidelity Grant
Scottish Government
279
140
123
-
8
-
-
-
22
-
5
-		 Income
£000
-
-
-
-
15,633
15,633
2,067
36
240
53
-
50
550
20
-
15
-
189		 Expenditure
£000
-
(687)
-
(687)
(14,426)
(15,113)
(2,020)
(148)
(323)
(43)
(8)
(15)
(550)
(20)
(22)
-
(5)
(123)		 Transfers
in/out
£000
(61)
-
-
(61)
61
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£000
110
-
-
110
-
110
-
-
-
-
-
-
-
-
-
-
-
-		 Page 42
Balance at
31 March
2021
£000
5,545
4,491
59
10,095
4,711
14,806
326
28
40
10
-
35
-
-
-
15
-
66

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds (continued)

Statement of funds - current year (continued)

Balance at 1
April 2020
£000
Lord Mayor’s
Appeal
Mobile
Methodology
White & Case
Events
Morgan Stanley
Young London
Appeal
366
10
-
174
-
1,127
15,303
Total funds
Statement of funds - prior year
Designated funds
Property
Development and Strategic
Future Awards Ceremonies
General
Unrestricted funds		 Income
£000
401
-
1
-
50
3,672
19,305
Balance at
1 April 2019
£000
5,775
192
59
6,026
4,016
10,042		 Expenditure
£000
(1)
(98)
(466)
(10)
-
(3,852)
(18,965)
Income
£000
-
5,000
-
5,000
13,637
-		 Transfers
in/out
£000
-
-
-
-
-
-
-
Expenditure
£000
-
(14)
-
(14)
(14,210)
(14,224)		 Gains/
(Losses)
£000
-
-
-
-
-
-
110
Gains/
(Losses)
£000
(279)
-
-

(279)
-
(279)		 Balance at
31 March
2021
£000
301
-
-
76
50
947
15,753
Balance at
31 March
2020
£000
5,496
5,178
59
10,733
3,443

14,176

Page 43

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds (continued)


Restricted funds
Voluntary Income & School
Service
The Art Room
Grenfell
Banbury Project
Mental Health Champions
Beaverbrook Foundation
Dept of Health
Paul Hamlyn Foundation
BMR Foundation
Tim Robinson
Fidelity Grant
Scottish Government
Lord Mayor’s Appeal
Mobile Methodology
Morgan Stanley
Total funds		 Balance at
1 April 2019
£000
41
132
210
53
15
17
263
-
-
-
-
-
-
-
-
731
10,773		 Income
£000
4,547
4,547		 Expenditure
£000
(2,588)
(177)
(333)
(103)
(17)
(48)
(263)
(53)
-
(27)
(110)
(15)
(417)
-
-
(4,151)
(18,375)		 Gains/
(Losses)
£000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(279)		 Balance at
31 March
2020
£000
279
140
123
-
8
-
-
-
22
-
5
-
366
10
174
1,127

15,303

Page 44

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

The Charity's funds fall into three groups

i) Restricted funds. These are funds, including grants, given for a specific purpose by the provider.

School Service Funders. This represents grants to support our work in specific schools or geographical areas.

The Art Room . Represents the funds transferred from The Art Room (Oxford) and further income received in the year which is specifically for activities in The Art Room programme.

Voluntary Income . This represents funds donated by charitable trusts to support our work in specific schools or geographic areas.

Grenfell. Funding to support children affected by the Grenfell Tower fire.

Banbury Project. This represents funds to support the role of Mental Health Manager in Banbury.

Mental Health Champions Programme. Grant in support of the Mental Health Champions Programme to enhance Newly Qualified Teachers' ability to support children's emotional wellbeing and improve the effectiveness of their teaching.

Beaverbrook Foundation. This represents funds to help boost capacity to fundraise from schools and to reach wider audiences.

Department of Health and Social Care. Represents funding to support children and young people's mental health during and post lockdown.

Paul Hamlyn Foundation. Represents funding to support Place2Be based in the Carrick Academy, Scotland .

BMR Foundation. Represents funding to support parent counselling services.

Tim Robinson. Represents funding to support research projects.

Fidelity Grant. Represents funding to support the Mental Health Champions Programme . .

Scottish Government. Represents funding to provide access to health and wellbeing support for school staff.

Lord Mayor’s Appeal. Represents funding to support Place2Think sessions for London teachers and to fund digital training for Counsellors on Placement

Mobile Methodology. Represents funding to support a redeveloped delivery model of the Art Room.

White & Case Events. Represents funding to support 20 partner schools in London.

Morgan Stanley. Represents funding to support face to face training for school leaders, provide digital training for classroom teachers and support the building of an online 'Best-practice' hub.

Young London Appeal. Represents funding to provide support for children's mental health in the London area.

Page 45

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

ii) Unrestricted Designated funds comprise:

Development & Strategic Priorities Fund. The fund provides for the long term and is expected to be utilised in future periods to cover the additional costs in pursuing strategic priorities. £5m was donated in March 2020, payable in three equal annual instalments, from the Mohn Westlake Foundation for investment in future capability improvements and likely to be expended over a three year period. Transfers out of the fund reflect expenditure on fixed assets such as computer software and equipment.

Property Fund. The fund represents the value of our properties at St John Street and Angel Gate, net of the loan secured on the property at Angel Gate. Transfers to the fund represent leasehold improvements to St John’s Street net of repayments on the loan

Future Awards Ceremonies Fund. The fund represents funds set aside for use in future Place2Be Awards Ceremony events. The next fundraising ceremony is scheduled for 2022.

iii) Unrestricted Charitable Fund. This represents the balance of Place2Be funds.

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2021
£000
2,691
1
4,560
9,981
(1,821)
(606)
14,806		 Restricted
funds
2021
£000
-
-
-
947
-
-
947		 Total
funds
2021
£000
2,691
1
4,560
10,928
(1,821)
(606)
15,753

Page 46

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2020
£000
2,635
1
4,450
9,965
(2,229)
(646)
14,176		 Restricted
funds
2020
£000
-
-
-
1,127
-
-
1,127		 Total
funds
2020
£000
2,635
1
4,450
11,092
(2,229)
(646)
15,303

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 Group
2021
£000
340
660
3,059
(410)
3,649		 Group
2020
£000
4,809
429
(4,168)
281
1,351

20. Analysis of cash and cash equivalents

Group Group
2021 2020
£000 £000
Cash in hand 5,801 2,908

Page 47

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

21. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1 April
2020
£000
2,910
(122)
(646)
2,142		 Cash flows
£000
2,891
-
40
2,931		 At 31 March
2021
£000
5,801
(122)
(606)
5,073

22. Capital commitments

Group Group Company Company
2021 2020 2021 2020
£000 £000 £000 £000
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets - 79 - 79

23. Obligations under operating leases

The charity entered into a 10 year lease agreement on 25 August 2017 for the rental of new head office premises. Principal rent amounts to £384,000 per annum and has been paid in full in advance.

The Group and the charity had no commitments under non-cancellable operating leases at 31 March 2021.

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

Group Group Company Company
2021 2020 2021 2020
£000 £000 £000 £000
Lease payments 384 384 384 384

Page 48

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

24. Related party transactions

During the year ended 31 March 2021 the charity received £713k (2020: Nil) by way of donations and gifts in

kind from related parties.

25. Donations from Trustees

Donations from Trustees during the year ended 31 March 2021 amounted to £2,200 from 7 Trustees

(2020: £80,000 from 4 Trustees).

26. Principal subsidiaries

The following was a subsidiary undertaking of the charity:

Name Company Principal activity Class of Holding
number shares
Place2Be Trading Ltd 12269387 Non-trading Ordinary 100%
Financial results of the subsidiaries for the year were:
Names Income Expenditure Profit for Net assets
£000 £000 the year £000
£000
Place2Be Trading Ltd 27 (4) 23 24

27. Post balance sheet events

Following the year end a 10 year fixed rate loan agreement for £750,000 was entered into with Lloyds Bank PLC. The loan provides a more favourable interest rate than the loan with Futurebuilders England Limited and the funds were applied to repay the balance of the loan held with Futurebuilders England Limited.

Page 49

PLACE2BE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

28. Comparative Statement of Financial Activities

Note
Income from:
Donations and legacies
Charitable activities
Investments
4
5
6
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed
assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2020
£000
9,982
8,637
18
18,637
972
13,252
14,224
4,413
(279)
4,134
10,042
4,134
14,176		 Restricted
funds
2020
£000
2,971
1,576
-
4,547
-
4,151
4,151
396
-
396
731
396
1,127		 Total
funds
2020
£000
12,953
10,213
18
23,184
972
17,403
18,375		 Total
funds
2019
£000
7,800
9,503
18
17,321
1,029
16,304
17,333
(12
2,229
2,217
8,556
2,217
10,773
4,809
(279)
4,530
10,773
4,530
15,303

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