## **Place2Be**
**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 MARCH 2022
**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 2022**
## **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**|**26**|
|**Consolidated statement of financial activities**|**30**|
|**Consolidated balance sheet**|**31**|
|**Charity balance sheet**|**32**|
|**Consolidated statement of cash flows**|**33**|
|**Notes to the financial statements**|**34 - 54**|
**PLACE2BE (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022**
## **Patron**
Her Royal Highness The Princess of Wales
## **President**
Dame Benita Refson DBE
## **Trustees**
Mr Simon Mackenzie Smith, Chair Mr Aamir Ahmad Mr Sandy Begbie Ms Anuja Dhir Mr Richard Douglas (appointed 8 June 2022) Ms Elizabeth Greetham Ms Sian Hill Professor Osama Khan (appointed 28 September 2022) Ms Elpha LeCointe Mr Adrian Levy Sir Charlie Mayfield Mr John Murphy Dr Margaret Murphy Mr Tim Robinson (appointed 28 September 2022) Professor Stephen Scott Sir William Russell, Deputy Chair (resigned 8 June 2022) The Rt Hon Stephen Dorrell (resigned 8 June 2022) The Countess St Aldwyn (resigned 20 October 2021) Ms Anthea Benjamin (appointed 20 October 2021, resigned 28 September 2022)
## **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 7JW
## **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 2022**
## **Foreword by Chair and CEO**
## **Adapting to the new normal**
Place2Be’s vision is for all children to have the emotional support they need to build lifelong coping skills and for them to thrive. As we embark on a new academic year, we look back with true admiration for our teams and school communities on the achievements and progress we have made together. This is thanks to the resilience of our team members and the deep, trusting and supportive partnerships they forge with our school communities to be there for children, young people and their families. As we enter our 28[th] year, Place2Be’s direct services were accessible to over 243,000 children in schools across the UK. With the growing take-up of our training and consultation programme to support school leaders to establish a ‘whole school approach’ to mental health and wellbeing, we now have a national footprint of almost 1500 schools, in line with the aspirations set out in our business plan to reach 10% of schools across the UK by 2025.
The past year required everyone to adapt to a ‘new normal’. Against a backdrop of an on-going pandemic and challenging economic times, we have continued to deliver against the four strands of our business strategy: delivering quality mental health services in schools; building understanding and know-how with school leaders and their staff to put in place a ‘whole school approach’; training mental health professionals, moving to a format to make the most of online learning combined with in-person sessions; and carrying out a review to reshape and pave the way forward for a more diverse and inclusive children’s mental health workforce. Our aim is to keep momentum high by continuing to shine a spotlight on the need for investment in early intervention and prevention. We have also continued to contribute to and build the body of academic research which underpins our work, and which demonstrates the benefits of early intervention.
## **Reaching more children, young people and families in our local partner school communities.**
As the pandemic has shown, a school is more than a place to achieve academic results. It’s at the heart of the community and a sanctuary for many young people. Our school-based teams have worked hand in hand with their school partners to adapt to the ‘new normal’ and to come together again as a community. This involves establishing a culture where good mental health is promoted, helping to build resilience and identify and provide support for those who need it – be that dealing with grief, loss, anxiety, and a host of other issues we have seen in this past year.
Most importantly, we have continued to do what we do best: delivering our expert services in schools and reaching even more children. We have continued to adapt and refine our services, based on the needs of children. Through our one-to-one support, as well as our group work in over 500 partner schools, we have reached 243,000 children in the past year. We have also made great strides in our work supporting children who are displaying challenging behaviour – often a signal that a child is struggling. Through the introduction of our mental health practitioner and family practitioner roles – and the roll-out of new training and products, our teams can provide more tailored support to meet the child’s needs and help the adults around the child to understand how they can support their wellbeing too. This includes a face-to-face programme delivered with parents and their children together, as well as the successful launch of our universally available Parenting Smart website. This has also enabled us to reach a much wider audience with advice and guidance for parents and carers of primary-aged children.
## **Building confidence and skills**
We know from over 27 years of experience in this sector that embedding wellbeing into a school’s culture creates the ideal environment for children to share problems or worries and to access support when they need it. This is why it is so important to build the confidence of school staff so they can better understand and recognise the signs that a child needs support.
Over the past year, we introduced our CPD-certified Senior Mental Health Leads training, quality assured by the Department for Education. This comprehensive programme gives school leaders the skills and confidence and structure to develop and implement a mental health strategy for their school community. We are delighted to have trained over 500 school leaders so far. After completing the course, 98% of participants felt they had a better understanding of their role as a senior mental health lead; and 90% of respondents say that they think some action they have taken as a result of this programme positively impacts pupils in their school. We were also delighted to be shortlisted in the UK Charity Awards 2022 for our Mental Health Champions Foundation Programme.
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**PLACE2BE**
**(A company limited by guarantee)**
## **Future focused – children’s mental health workforce**
None of our work can happen without the expert professionals we employ in schools across the UK. We were pleased to return to face-to-face training for all our mental health workforce programmes in the past year. Alongside this, we carried out a review of our mental health workforce training, to explore how we can do more to meet the increasing need for children’s mental health support across the UK. This includes proactive steps to ensure the curriculum and our recruitment processes are fully inclusive, and to encourage more mental health professionals to come from within the communities we support. We are delighted to begin the new academic year 2022/23 with a refreshed programme of clinical courses and further important developments are underway for the year ahead.
## **Making the case for early intervention and prevention**
We have become bolder in our thought-leadership and policy and public affairs work in the past year. Using our 27 years’ experience of service delivery in schools, we have participated in several Parliamentary Select Committees, health and education sector roundtables, including one with the Prime Minister in Downing Street. February 2022’s Children’s Mental Health Week, our annual campaign to shine a light on children’s mental health, was once again a resounding success generating widespread national media coverage, interaction and engagement with school communities and key stakeholders.
We were honoured to receive an Award for _Outstanding Contribution to Children’s Arts_ , alongside our partners BAFTA Kids, for the roadshows we have run for the past few years. We have continued to build on our relationship with BAFTA who kindly hosted two events this year, including our Wellbeing in Schools Awards, celebrating those championing mental health in schools throughout the UK. We were also thrilled that our very first RHS Chelsea Flower Show sanctuary garden, designed by Jamie Butterworth, generously sponsored by Sarasin & Partners, was awarded a gold medal.
Our Research and Evaluation Team has continued to provide the evidence base that underpins all our work. The publication of Pro Bono Economics’ updated cost-benefit evaluation of Place2Be’s one to one counselling, found that for every £1 spent, there’s a return of £8 in economic benefit to society; up from £6.20. In the current challenging economic climate this affirmation is most welcome.
## **Values led**
As ever, we could not achieve all that we have in the past year without the generosity and compassion of our donors and valued supporters. We are particularly thankful to those who support us through unrestricted sources of income, giving us the flexibility to use the funds where they are most needed. In the past year, this has included further work on our IT infrastructure, to support our organisation development to reach more children.
As a non-profit organisation, our values act as the rudder in steering us through the choppy waters of our current times. Integrity, perseverance, compassion and creativity are not just words, but the rationale for working in this demanding, but equally rewarding, field of children’s mental health. And it is inspiring to see wonderful examples of staff living these values daily across the organisation, both within school communities and in the behind-the-scenes business operations.
In the coming year we will focus on maintaining and building on this momentum, with specific focus on attracting more professionals to train and join the mental health workforce and to increase knowledge and understanding of children’s wellbeing. We are also excited to be expanding into new areas, particularly the South West of England, the only region of the UK not currently served by our in-school Place2Be services. We are so grateful for the energy and commitment of everyone who works with us and for all who continue to support our valuable work, which is needed now more than ever.
**Simon Mackenzie Smith, Chair of Trustees. Catherine Roche, CEO.**
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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 vision, aims and strategy**
- Place2Be is the UK’s leading provider of school-based children’s mental health services
- We provide emotional and therapeutic support in schools, as well as expert training and resources, to improve the emotional wellbeing of children, young people, parents and teachers
- We call this a whole school approach to mental health and wellbeing.
## **Our work focuses on four areas:**
- Supporting children and young people’s mental health through therapeutic work in schools
- Building awareness, skills and knowledge of mental health within school communities, to equip school leaders, teachers and staff to address and prioritise wellbeing
- Building an expert workforce in the field of children and young people’s mental health
- Innovating, gathering evidence and communicating the impact of our work on school communities across the UK; as well as society as a whole.
## **Why this matters:**
- One in six children and young people have a diagnosable mental health problem. _Source: NHS Digital (2021)_
- Half of lifetime mental illness starts by the age of _14. Source: Kessler R and Wang P (2007)_
- According to Young Minds, 67% of young people believed that the pandemic will have a long-term negative effect on their mental health **.** _Source: Young Minds (2021)_
- Mental health problems cost the UK economy at least £118 billion a year, according to the LSE and Mental Health Foundation.
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**PLACE2BE**
**(A company limited by guarantee)**
## **Section 2: Strategic Report Section 2a: Achievements and performance against 2021/2022 commitments**
## **Our activity and impact at a glance**
**Providing high quality mental health services within schools** In FY2021/22:
**Building skills, confidence and knowledge in schools** In FY2021/22:
Direct in-school delivery: We worked with 500 schools in total reaching 243,000 children and young people
_(vs 492 schools in 2019/20, reaching 247,000 children and young people)_
In the academic year 21/22:
- 6,896 ( _vs 5,875 previous year)_ pupils accessed Place2Be’s one toone weekly support
- 33,249 ( _vs 27,995 previous year)_ pupils booked their own Place2Talk appointment
**17,022** school staff undertook our Mental Health Champions Foundation (MHCF) programme. 94% of those who completed the course would recommend it and 71% learned something that resulted in a change in their action, behaviour or attitude in the workplace (vs 53,603 last year)
Following completion of the MHCF programme, 8,032 education professionals joined our online community, The Place2Be Staffroom. There are **an average of 16,600** monthly views of resources and **21,686 learning interactions** . **18,280 view** of Art Room resources on Staffroom.
**511** participants completed our new _Senior Mental Health Lead_ programme, for which we are a DfE approved provider. **80%** felt they had a clear plan to prioritise their school’s mental health activity after the course, compared to just 30% before.
**98%** felt they had a better understanding of their role as an SMHL.
Of pupils who have taken part in Place2Be counselling between August 2020 and July 2021
**68%** caused fewer problems for their teacher or class
**73%** found it easier to have friends
**79%** of those with severe difficulties showed an improvement in wellbeing
**222** people completed our reflective supervision groups, Place2Think [822 in the previous year when we had two funding streams supporting delivery].
**12,748 total downloads** of Art Room Activities available to all on the website.
129,000 resource downloads **of Place2Be’s Children’s Mental Health Week resources (vs 225, 00 total downloads the previous year)** .
## **Building a child mental health workforce**
In FY2021/22:
## **Raising awareness and communicating our impact**
In FY2021/22:
200 students on Level 2 93 students on Level 3
40 students on Postgraduate Diploma, including some extensions due to pandemic [ _99 people on all qualifying courses previous year]_
**546 people** attended a ‘Taster Day _[vs 162 previous year and 1,039 19/20]_
_**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.
## **Counsellors on Placement Hub**
**807** new users on the hub [total 1.4k with previous year] **4.8k** comments
**137.8k** views (overall)
**72.6k** votes and answers on polls/quizzes
**836** individual CoPs attended a workshop ( **685** previous year) and 619 of these attended more than one workshop ( **550** previous year)
Four peer review papers, sharing best practice, were published in the following titles:
_**Lancet Child and Adolescent Health; Journal of Child Psychiatry and Psychology; European Child and Adolescent Psychiatry.**_
_**Greek Journal of Hellenic Society of Children and Adolescent Psychiatry.**_ July 2021 _._
_**Child and Adolescent Mental Health**_ : November 2021.
_**Child and Adolescent Mental Health:** attending school counselling. d_ May 2022.
_**Plus**_
_**Pro Bono Economics:**_ Place2Be’s one-to-one counselling service in UK primary schools: an updated cost-benefit analysis. _June 2022._
## **Website usage and engagement:**
**491,516** users between 31 March 2021-1 April.
We ran **136** workshops, each a day-long course ( **115** previous year) **.**
754 unique users accessed Place2Be’s learning hub, which provides a range of courses and guidance.
## **Social media engagement:**
**20,366 followers gained** across all channels, between April 2021-March 2022, with over 25m impressions, up 18% year on year.
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**PLACE2BE**
**(A company limited by guarantee)**
## **Overview of delivery against our business strategy in 2021/22**
Figures published by the NHS in November 2021 show that diagnosable mental health conditions now affect one in six children. Sadly, across our frontline services, we have seen rising numbers of young people struggling with anxiety, self-harm, eating difficulties and suicidal thoughts in the past year. The good news is we know this situation is solvable with the appropriate help. By intervening early and by working in partnership with schools, we can prevent a child’s emotional issues from escalating as they grow up.
In the past year, we continued to focus on the priority areas outlined in our strategy, embedding our new clinical approach, and continuing to look at how we could improve our range of services to be even more effective, and to reach more children and families. We were also delighted to welcome two new Directors to the senior management team: Simon Yates as Director of Operations; and Sarah Houghton, who took up an internal promotion into the newly created post of Director, Mental Health Workforce Development.
## **Building confidence, skills and knowledge in schools, to promote a better understanding of mental health**
The appetite for our online Mental Health Champion Foundation (MHCF) programme continued during the summer term of 2021. We wanted to keep in touch and establish a peer-learning forum for the education professionals who had carried out this training, so developed the Place2Be _**Staffroom**_ to provide an online community and forum for support and idea sharing. The platform softlaunched in March 2021 with a small number of active users, before officially launching in May 2021. Through ongoing dialogue with the members across the UK who have completed the MHCF programme, we are gaining a better understanding of the challenges faced in schools which informs how we tailor ongoing support both in the _**Staffroom**_ and through other services.
The Staffroom has grown organically over the year into a vibrant community of over 8,000 teachers. It now provides a space for teachers to gain access to resources from Place2Be clinicians, activities from the Art Room to use in school, as well as view webinars on topics affecting schools. Its impact is assessed through user engagement levels and qualitative feedback on the platform, of which the depth and quality of the comments has been highlighted by Hive Learning as a standard for other organisations to aim for. The MHCF programme itself remains popular with school staff. We reduced our planned participant numbers in line with a return to the classroom for teachers. In the year to the end of March 2022 over 17,000 educators joined the programme.
As a result of reduced funding for the Place2Think service and increased school staff absence, we scaled back delivery of our Place2Think service, which provides a reflective space for school staff to discuss the emotional issues facing their students. The model is however under review as schools tell us that there is still a need for reflective space.
Place2Be is now the specialist mental health partner in the newly created National Institute of Teaching. This new DfE backed consortium will provide high quality through-career training to the teaching profession and affords Place2Be and our partners a fantastic opportunity to embed mental health at the heart of teacher and school leader training.
## **Providing high quality mental health services in schools**
Place2Be continues on its trajectory to have an embedded mental health professional in 700 schools by 2025. This year our partner schools reached 419 by 31 March 2022, with a forecast of over 100 more joining in FY22/23. We are exploring how we can work in a more strategic way with some Multi Academy Trusts as well as continuing to build out our practice in local communities and regions.
In the past year we have reshaped our clinical delivery model to include a wider range of universal and targeted interventions, while reducing the standard number of one-to-one sessions. Our data shows that this new approach has enabled us to support significantly more children and young people in one-to-one counselling, with no detriment to our positive impact. In the coming year, as these newer interventions become more established and as we continue building our group work programme, we look forward to being able to reach many more.
The past year has seen the launch of several new programmes co-created in partnership with South London and Maudsley Trust (SLAM), the Anna Freud Centre for Children and Families and of course our service users. We are making good strides in the delivery of a blended service offer for school communities, with a mix of service online as well as face-to-face in schools.
Our Family Practitioners have been trained to offer a face-to-face training programme delivered to parents/carers along with their
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children. This is called Personalised Individual Parenting Training (PIPT). 258 parents have completed this programme this year. Complementing this we have written and launched the Parenting Smart site which is universally available, and our Parenting Smart online course, available in its first iterations exclusively to parents and carers from our partner schools. Nearly 40,000 unique users have accessed the Parenting Smart site and 475 parents engaged with the course.
Our secondary school staff have been trained in Knowledge Insight and Tools (KIT), a CBT informed intervention developed for counsellors, in partnership with experts from the Anna Freud Centre. Delivery of this is in its early stages, with 58 cases so far. We have seen some very promising early outcomes from these interventions. In the coming year we look forward to seeing these new offers becoming established across our schools.
In line with our business plan and additional operational capacity introduced in the 2020 restructure, we created a new Place2Be region, covering the Midlands and Wales. In the past year we have focused on resourcing and embedding the work of this fifth region, enabling us to focus greater attention on the specific needs of schools in Wales and the Midlands. We had success in South Wales securing significant funding from two donors matched by funding from local authorities, which will result in 15 new schools in South Wales joining Place2Be.
In May this year, we announced a new fund, initiated by Hugh Garmoyle in memory of his wife Juliet Garmoyle, which will enable Place2Be to extend its vital services into the South West for the first time, starting with Devon. The fund provides a sustainable model which will have a lasting impact on whole communities in this region and we have worked closely with local NHS and councils to ensure our services are integrated into and support existing provisions. The development of the regional model has allowed us to reach more schools outside London in the South of England and we have a growing presence in Hampshire, Wiltshire and Somerset.
## **Building the child mental health workforce**
We were able to return to face-to-face training for all our professional qualifying programmes from September 2021 albeit with reduced numbers to manage the social distancing required. We made use of the interactive screens for those who were isolating or testing positive to ensure continuity of delivery. We will return to pre-pandemic numbers in September 2022. We performed extensive discovery work in Autumn 2021 and based on the outcome of the work we are developing a revised programme of professional qualifications, to build the child mental health workforce of the future. This will start with our newly redeveloped Level 6 Supervision Qualification programme followed by a conversion programme for people already qualified as adult counsellors to build their skills in working with children and young people.
Most of our original Level 2 and Level 3 Wolfson Bursary recipients had completed their programmes by the end of March 2022. Feedback from both students and tutors has been positive. We put in extra support to ensure success for those who needed it. One of the candidates, a primary teacher named Ashyia, commented that through her training on the bursary programme, she now feels she has the skills and tools to empower children in her class, and has been able to help them increase their resilience and emotional awareness.
## **Raising awareness of children and young people’s mental health:**
We have continued to advocate for the importance of early intervention and school-based mental health provision for all children and young people in the UK. Children’s Mental Health Week, our annual promotional campaign, continued to attract widespread media and public attention. The February 2022 theme of _Growing Together_ provided a great opportunity to encourage school communities to think about the importance of personal growth and being together again after two challenging years. Our activity resulted in 2,000 pieces of broadcast and online coverage, including high profile pieces on BBC and Sky News, and over 129,000 resource downloads, as well as generating over £100k in donations.
We have made significant strides in our public affairs activity across the year, ensuring that school-based mental health support and early intervention are seen as top priorities for the future. We have continued to raise our profile among politicians and members of the UK and Scottish Parliaments and the Welsh Assembly, particularly during Children’s Mental Health Week. During the Week, CEO Catherine Roche was invited to participate in a special Education Select Committee session, and Place2Be hosted well-attended events in Westminster and Holyrood and significantly raised our profile among MPs, MSPs and Ministers.
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**PLACE2BE**
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Senior Place2Be staff have participated in, and contributed to, influential sector committees, including a round-table event at Number 10 Downing Street and The Times Education Commission. We have also contributed to national consultations on future mental health provision for children and young people, most recently to the Department of Health and Social Care’s National Institute for Care and Health Excellence Guidelines (NICE).
We were honoured to be invited to work with corporate sponsors Sarasin & Partners and horticulturalist Jamie Butterworth, for our first RHS Chelsea Flower Show garden which won a Gold medal and secured us national TV coverage and in-person discussions with a high profile and engaged audience. We have also continued to build on our valued partnership with BAFTA, worked with the RHS and RPO on Art Room projects promoting the arts and mental health, and continued to enjoy the benefits of our Royal patronage. In June, the publication of the updated Pro Bono Economics report on the economic benefit of Place2Be support provided an ideal platform to showcase the economic argument for Place2Be’s model, increasingly important in difficult economic times.
We are delighted that Jamie Butterworth has now become a Place2Be champion supporter, joining our host of celebrity supporters who are already playing active roles in raising awareness of our work. This includes children’s TV presenter and _Strictly Come Dancing_ star Rhys Stephenson, CBBC’s Art Ninja Ricky Martin; and journalist, author and child therapist Kate Silverton, all of whom became official Place2Be ambassadors in the past year.
## **Delivery against Commitment to Equality, Diversity and Inclusion [EDI]**
Place2Be remains committed to being a fully inclusive organisation. We continue to challenge ourselves to ensure that diversity and inclusion is fully embedded in everything we do, from our training and recruitment through to our clinical practice, our communications and organisational culture. Our five areas of focus within our diversity and inclusion action plan, are shared with our staff and published on our website. Our staff continue to drive forward this agenda, through the EDI Steering Group, which meets every six weeks, with representation from across the UK. Recent developments include considering any adaptations we can make to our processes and systems to support neurodiverse colleagues. Beyond our own organisation, Place2Be continues to lead the therapy sector’s Diversity and Inclusion Coalition of mental health sector training providers, with its initial focus on addressing gender and ethnic disparity in the sector. An outcome in the year ahead is the production of an EDI toolkit for counselling and psychotherapy programmes.
## **Staff Wellbeing**
With a deep commitment 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 all staff. For staff not based in schools, we have introduced hybrid working, aiming for an approximate 50/50 split between office and home working. We continue to promote the dedicated wellbeing section on our intranet, as well as a series of activities and staff wellbeing benefits throughout the year.
We encourage dialogue, with regular check-in sessions, many informal, to ensure staff have an opportunity to voice concerns and had a space for reflection and staying connected during lockdowns. The past two years we have offered staff wellbeing days, to be taken during the summer months, as well as end of term activities designed to support a positive working environment. Our Wellbeing in School Awards, kindly hosted by BAFTA at a ceremony in May, provided a welcome opportunity to recognise and celebrate the excellent contribution, passion and hard work of inspiring wellbeing ambassadors, including children, young people and adults who go above and beyond to support mental wellbeing in their school communities. Our Awards have been great for staff morale and stakeholder confidence.
## **Investment in technology**
Investment continued in 2021/22 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 Information Technology Advisory Group, chaired by our Trustee Aamir Ahmad. We continue to benefit immensely 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 saved in our shared systems. Notable achievements in the past twelve months include the adoption of a new finance system and improvements in the way that our website integrates with our customer relationship marketing (CRM) system. Responding to
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heightened IT security needs, we have also improved controls around our clinical case management system and other key systems. At the organisational level we obtained Cyber Essentials Plus accreditation and have been certified as ‘standards exceeded’ for the NHS’s DSPT data security framework.
## **Environment, Social and Governance**
In line with our values, we are committed to our wider responsibilities as an organisation and employer, ensuring we operate sustainably and ethically across all aspects of our work. Our Environmental, Social and Governance Charter (ESG) outlines our commitments to each of these areas. Our staff led ESG group steers our organisation-wide commitment to reduce our carbon footprint, particularly through travel, reducing waste and energy, and sustainable procurement. Our ESG Group, consisting of staff from across the organisation, meets quarterly to keep this work on track.
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**PLACE2BE (A company limited by guarantee)**
## **2022/23 Forward plan**
In the financial year 2022/2023 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 in the year.
## Activity for the year ahead includes:
- The expansion of services to reach more children, young people and communities. Place2Be continues to deliver against its business plan to partner with 700 schools by 2025, with a forecast of at least 530 partner schools by the end of March 2023. We will continue to develop partnerships with key MATs (Multi Academy Trusts) and develop relationships with the newly emerging ICBs (Integrated Care Boards) to ensure we maximize our reach and become better connected with the wider health and education systems. In addition to increasing our reach in our core large city areas, we are expanding our service into a number of rural and coastal areas where there is a high need for support and a paucity of providers.
- Continued delivery of our Senior Mental Health leads work. With the extension of the DfE grant to schools into 2023 many more schools will be able to take advantage of this offer. We also aim to pilot and roll out an equivalent course tailored for school leaders in Scotland.
- Implementing and further embedding our revised clinical delivery model. We will continue to focus on the assessment and formulation of our school-based services, getting the right intervention to each child.
- Commence delivery of our redeveloped programme of professional qualifications, to build the child mental health workforce of the future. This will start with our newly redeveloped Level 6 Supervision Qualification programme which opens in September 2022, followed by a conversion programme for people already qualified as adult counsellors to build their skills in working with children and young people.
- We will expand the reach of our digital programme Mental Health Champions – Foundation, particularly for newly qualified teachers as part of the National Institute of Teaching consortium of which Place2Be is a specialist partner.
- Equality, Diversity and Inclusion. We will continue to deliver to our stated EDI commitments and continue to lead the therapy sector’s Diversity and Inclusion Coalition with its focus on addressing gender and ethnic disparity in the therapeutic sector. A toolkit to support training organisations in the field of children’s mental health to develop fully-inclusive curricula will launch in 2023.
- Our investment in our systems and processes will continue in the year ahead. There will be continued focus on the security of our data particularly in response to the increasing threat of cyber criminals. Improving the integration of all of our systems will continue to be a focus. Building on the adoption of our new finance system we will improve reporting so as to give timely business information.
- We will continue to advocate for the provision of children and young people’s mental health support within communities. Through our policy work we will ensure the topic of mental health and the importance of early intervention, and the role of the school community, remains high on the national agenda.
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**PLACE2BE**
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## **Section 2b: Organisational purpose and public benefit**
## **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.
## **Charitable Objectives**
Trustees performed an assessment of the Articles of Association of both the charity and its trading subsidiary in 2021 in order to ensure that they properly reflected the needs of the charity and current standards of compliance and best practice. The new Articles were formally adopted in December 2021.
As part of the review, the objectives of the charity set out in our Memorandum and Articles of Association were also reviewed to ensure that they appropriately reflect the current aims of the charity. These objectives are the advancement of education and the preservation and protection of health among young persons and adults by:
- enabling therapeutic and emotional support to be provided to children in schools based on a practical model backed by research;
- providing emotional support to children and adults including teachers and parents;
- providing training in the principles, practices and methods of providing emotional support to children and adults and in other allied or ancillary subjects; and
- providing services to facilitate the placing of persons trained in the provision of emotional support to children and adults.
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.
## **Leadership**
In addition to their quarterly Board meetings, 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 receives 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.
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 subcommittee 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 informally weekly and formally on a monthly basis.
## **Our staff and pay structures**
During the year to March 2022 we had an average of 570 staff (372 FTE), compared to 520 (366 FTE) from the previous 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:
- we provide a total reward package which recognises contribution to the achievement of our aims;
- our reward offering will be competitive in the marketplace from which we draw the people we need; and
- the reward decisions we make will be based on objective assessment of performance and of our organisational needs.
Remuneration policy is set by the People and Culture Committee, who have oversight of its implementation and application. Specific responsibilities include:
- monitoring sector pay levels and practices through participation in relevant surveys;
- reviewing and approving the annual salary budget;
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- reviewing and approving individual pay recommendations for the Executive team; and
- reviewing gender and ethnicity pay gap metrics.
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## **Section 2c: Income, Expenditure and Balance Sheet**
## **Summary of Performance**
Income for the year amounted to £19.5m (2020/21: £19.3m), expenditure totalled £20.7m (2020/21: £18.9m) and, together with a gain in the revaluation of Angel Gate of £85k (2020/21: £110k), resulted in an overall net reduction in funds of £1.1m, taking the total funds balance to £14.6m.
## **Principal Sources of Funding**
Taking into consideration the generous one off £5m donation pledged by The Mohn Westlake Foundation in 2019/20, income growth continued into 2021/22.
**----- Start of picture text -----**
INCOME: 5 YEAR GROWTH
£23.2m
£19.3m £19.5m
£17.3m
£16.7m
2017/18 2018/19 2019/20 2020/21 2021/22
Income Mohn Westlake £5m
**----- End of picture text -----**
The greatest proportion of income was generated from Voluntary Income £8.3m (2020/21: £8.8m) which accounts for 42% (2020/21: 46%) of total funds. Income from Schools of £7.9m (2020/21: £7.9m) marginally 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 still impacted by pandemic restrictions towards the beginning of the year, 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 2021/22
**----- Start of picture text -----**
0% [4% 1%]
11%
TOTAL
42%
INCOME
£19.5m
Voluntary £8.3m
School £7.9m
Local Government £2.0m 41%
Central Government £0.05m
Training £0.7m
Gifts in Kind £0.3m
Other £0.1m
**----- End of picture text -----**
## **Expenditure on Charitable Activities**
Expenditure on Charitable Activities increased from prior year and totalled £19.5m (2020/21: £18.1m), driven mainly by a 8% increase in Mental Health Services spend, which accounts for 86% of our total costs.
**----- Start of picture text -----**
EXPENDITURE ON CHARITABLE ACTIVITIES 2021/22
**----- End of picture text -----**
**----- Start of picture text -----**
5%
9%
EXPENDITURE ON
CHARITABLE
ACTIVITIES
£19.5m
Mental health services &
support £16.8m
Learning & development
£1.8m 86%
Raising awareness &
promoting
understanding £0.9m
**----- End of picture text -----**
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## **Balance Sheet**
The main changes in the Balance Sheet compared to previous years are as follows:
|**£000s**|**2020/21**|**2021/22**|**Notes**|
|---|---|---|---|
|Fixed assets|7,252|6,754|Depreciation charges in year offset by a gain in the value of
our investment property at Angel Gate.|
|Debtors|5,126|3,377|Debtors from prior year included the final £1.6m instalment
of the £5m donation from the Mohn Westlake Foundation.|
|Cash at bank and in hand|5,801|6,802|Cash balances have continued to improve due to good
working capital management.|
|Creditors - Amounts falling due
within one year|(1,820)|(1,691)|Decrease in trade creditors and interest repayments on our
loan relating to our investment property at Angel Gate.|
|Creditors - Amounts falling due
after more than one year|(606)|(638)|Long term liability relating to our investment property at
Angel Gate.|
|**Net Assets**|**15,753**|**14,604**||
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## **Reserves**
Place2Be reserves, comprising restricted, designated, and unrestricted funds are described and summarised in note 18.
During the year there was a net reduction of £1.1m in group charitable funds bringing the total value of funds to £14.6 m. Restricted funds have increased from £0.9m to £1.5m.
Unrestricted Charitable Funds of £13.1m 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. Place2Be looks to maintain at least three months’ worth of expenditure in unrestricted reserves. At 31 March 2022, Unrestricted Charitable Funds are approximately comparable to three months’ worth of operating costs, which the Trustees view to be adequate.
Unrestricted designated reserves include the Development and Strategic Priorities Fund of £2.8m. The purpose of this fund is to assist growth of the organisation’s future capability. Place2Be has drawn down £1.7m 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 £5.2m represents the amount of Place2Be’s own funds that are invested in property assets.
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## **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. At present our school based work is across five geographical areas with each area having a dedicated safeguarding team member.
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. In 2022 we commissioned our third such audit this time performed by the NSPCC. This was a positive report which identified many strengths such as the school based staff being “highly valued in schools, both for the work they do and their knowledge of safeguarding”. The central safeguarding team was identified as “always responsive in their actions to support school based staff” when dealing with safeguarding concerns. Place2Be has made changes to processes in response to the report’s helpful suggestions on areas for improvement, such as ensuring that training on self-harm and suicide is mandatory given the rise in numbers of cases and the high risks associated with such behaviours for some children.
## **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, as well as income for the delivery of learning and development. Our fundraising portfolio is under constant review and since the global pandemic it has become ever more important to diversify our income sources and strengthen relationships with our long term partners. We are very aware of the ever increasing pressure on school budgets which has been heightened by recent wage and energy inflation so we try to 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 remain affordable and avoid increasing our fees to schools disproportionately, since this would carry the risk of children in need of our services losing access to our specialist support.
Because we value our staff we try to do what we can to balance the need to remain affordable with our need to make our salaries competitive in the face of cost of living increases.
Building on the recent restructure of our finance department we have implemented a new business information system in order to increase our ability to control and report on performance.
## **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
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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. The introduction of our paid Mental Health Practitioner role also provides a supportive career pathway for counsellors once they have qualified.
## **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 relationships with commissioners and schools.
## **Data security**
Since the pandemic of 2020 there has been an increase 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 second device 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 Information Technology Advisory Group convened by the Finance and Audit Committee.
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## **Section 3: Governance and management**
Place2Be is governed in accordance with its Memorandum and Articles of Association by the Board of Trustees. These were assessed by Trustees in 2021 and a new set adopted in December 2021.
Place2Be abides by and assesses itself against the Charity Commission Code of Conduct. The Charity utilises the Code as a tool to reflect upon its current governance structures and consider the ways in which it meets its charitable objectives and applies the seven principles of recommended practice.
During the year we performed an internal assessment against the Charity Commission’s published Code of Conduct which contains a number of tests supporting seven principles of organisational governance. These are divided into the following broad headings:
- Organisational Purpose: The board is clear about the charity’s aims and ensures that these are being delivered effectively and sustainably.
- Leadership: Place2Be is headed by an effective board that provides strategic leadership in line with the charity’s aims and values.
- Integrity: The board acts with integrity. It adopts values, applies ethical principles to decisions and creates a welcoming and supportive culture which helps achieve the charity’s purposes. The board is aware of the significance of the public’s confidence and trust in charities. It reflects the charity’s ethics and values in everything it does. Trustees undertake their duties with this in mind.
- Decision making, risk 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 effectiveness: The board works as an effective team, using the appropriate balance of skills, experience, backgrounds and knowledge to make informed decisions.
- Equality, Diversity and Inclusion: The board has a clear, agreed and effective approach to supporting equality, diversity and inclusion throughout the organisation and in its own practice. This approach supports good governance and the delivery of the organisation’s charitable purposes.
- Openness and accountability: The board leads the organisation in being transparent and accountable.
The Board and Executive are content that the requirements of the Code are met but we continue to consider the ways in which Place2Be can continue to improve the Charity’s governance standards and increase our overall effectiveness as an organisation.
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.”
## **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 interest 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.
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## **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 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 fifth gender pay gap report this year. This reported that the mean gender pay gap at Place2Be had decreased from 12.6% on 5 April 2020 to 11.7% on 5 April 2021. Since the number of male employees is relatively low some small movements can have a large impact on the figures. In 2021, the executive team contained two members of male staff, which is the same number of male employees that it contained in 2020. The gap for the median or ‘middle’ employee reduced from 6.2% in 2020 to 0.0% in 2021, indicating that there is no gap between the “middle” employee within each gender group.
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 1.9% over the previous twelve months. The median gap is zero indicating that there is no gap for the ‘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 ‘prefer not to say’. The percentage of staff for which we have no data reduced from 12% in April 2020 to just 4% in April 2021.
We are undertaking a number of measures to improve the ethnicity pay gap, including continuing to operate a competency-based approach to recruitment and promotion. Last year, eight employees participated in our reciprocal mentoring programme and we currently have ten employees enrolled for the next run. We have created a post graduate bursary fund to encourage more employees, particularly those from diverse groups in order to further develop their careers by pursuing courses which benefit them and the organisation. We are pleased that three colleagues have benefitted from this scheme, two of whom are from diverse communities. We continue to analyse and benchmark our job descriptions, ensuring we apply a fair and transparent system for assessing newly created roles, using both internal and external benchmarking. In addition, our 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.
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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.
## **Environmental, Social and Governance framework**
Ownership of our ESG Framework sits with the Executive team reporting into our Board. In line with Place2Be’s values, we are committed to our wider responsibilities as an organisation and as an employer. We aim to operate sustainably and ethically across all aspects of our work.
Place2Be’s charitable objectives are to improve the mental wellbeing of those it supports. However, as a charitable entity Place2Be wants to have a positive impact on society more widely and is committed to upholding high ethical standards. The Charity takes seriously its responsibilities within all aspects of Environmental, Social and Governance. Further, Place2Be applies ethical standards to those it works with including suppliers, customers and donors so that we support and encourage others to make positive change. Place2Be is committed to publishing its performance in matters of ESG.
Our environmental commitments are contained within our Green Charter. The social elements are addressed principally by our EDI and pay gap activities (described more fully in Section 5 below). In the area of governance the charity assesses itself against the Charity Commission Code of Conduct (in Section 3 above).
In line with our Green Charter we are committed to reducing our carbon footprint, in three key areas:
Minimising harmful emissions through travel, by
- Use of Zoom where possible
- Promotion of sustainable forms of transport – public transport to attend meetings; trains as first choice for longdistance UK trips; and a cycle loan scheme for staff;
- Monitoring CO2 emissions and reporting on usage each quarter – with the aim to reduce car miles per capita by 10% by 2025 against a 2019 baseline.
Reducing waste by
- Promoting sustainable practices in the office and create greater awareness of waste through signposting and internal communications
- Implementing a procurement policy that supports sustainability
- Monitoring volumes of refuse and recycling, with the aim to reduce both, particularly refuse by 10% by 2025.
Reducing office energy use where possible, by
- Monitoring heating, air-conditioning and lighting use – to reduce CO2 and kilowatt usage per capita
- Use of energy efficient appliances and lighting
- Regular assessment of energy efficiency by a third party, in line with the government Energy Savings Opportunity
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## **(A company limited by guarantee)**
Scheme (ESOS)
- Increasing greenery on office roof-terrace to off-set carbon and create more biodiversity.
## Reporting and Accountability
We will publish the results and act on the suggestions of our statutory ESOS assessments
We promote our Green Charter and commitments through our intranet and website, and encourage all staff to support this work in a number of ways:
- Staff induction (new joiners to read ESG Framework and Green Charter)
- Signposting throughout the office space and intranet, with reminders about recycling, energy saving, bike loan scheme and other initiatives
- We support the delivery and roll-out of the Charter through regular updates to staff
- We promote membership of our ESG group across the organisation in order to encourage staff to shape, embed and champion this work.
## **Investment policy**
Place2Be classes its appetite for Financial Investment Risk as ‘very low’. This means that its Investment Policy is cautious and considers risk to be more important than reward in order to protect the Charity’s assets. Cash holdings are favoured ahead of securities (e.g. debt or equities) since they have a lower risk profile. The need to spread risk is balanced against the practicalities of administering numerous accounts and the investment policy also considers social, environmental and ethical considerations. 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 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 macroeconomic considerations such as the rising cost of living, energy shortages, high levels of inflation and skills shortages across a number of industries.
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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## **Section 5: People**
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 our school based staff forum is in its formation. The forum continues to provide input into operational and strategic issues which affect staff. 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 communities.
7.7% of our employees declare on record as having a disability. We have a proactive People team that supports our managers and staff in responding to reasonable adjustments.
During that time period, there have been 31 individuals where we have put in place reasonable adjustments and support, either through Occupational Health Assessments, Remploy Assessments (for Dyslexia disclosures), external DSE assessments and/or discussions with individuals prior to employment during onboarding (following a disclosure on their Health Declaration). Of these cases - 12 (38%) are linked to a disability.
Place2Be has policies relating to employee welfare and support including:
- Employee Wellbeing
- Ill-health
- Health and Safety
- Equality, Diversity an Inclusion
- Anti-harassment and bullying
- Disclosure (whistleblowing)
- Working Together – Code of Conduct
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 mini-surveys which include questions on how staff feel that we are performing against our EDI agenda. Based on the feedback, we have focused on four areas over the last twelve months: improving internal communication, addressing workload, improving wellbeing and enhancing leadership. Our last pulse survey showed significant improvement in all of these areas.
We have a People Projects Officer dedicated to supporting staff engagement, wellbeing and Equality and diversity across the organisation. 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.
We strengthened our discussion on inclusion at work through a series of workshops titled Include me at work with the support of corporate partners PwC. Feedback from sessions was positive, 75% agreed and 12% strongly agreed their understanding of how to be more inclusive to others had increased. As at the end of the financial year, 56 employees had completed this with plans for future roll-out sessions.
We continue to encourage our workforce to grow into leadership roles and in this financial year we have supported the following apprenticeships: Level 3 Team Leader (7), Level 4 Data Analytics (6), Level 4 Associate Project Management (5), Level 5 Coaching (7),
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Level 5 HR Consultant (1) and Level 7 Senior Leader (5).
We have developed a bursary fund, which is ringfenced for 10 employees seeking to undertake a post-graduate programme. Place2Be contributes a maximum of £2,000 per person through our central Learning and Development Budget. This programme is especially targeted at staff from diverse groups.
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## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities Statement of Recommended Practice (SORP);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 28[th] September 2022, 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 28[th] September 2022
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## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLACE2BE**
## **Opinion**
We have audited the financial statements of Place2Be for the year ended March 2022 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:
- give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2022 and of the group’s income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006.
## **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.
Page 26
**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:
- the information given in the Trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the Trustees’ report have been prepared in accordance with applicable legal requirements.
## **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:
- adequate and proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 27
**PLACE2BE**
**(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 non-compliance 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 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),
Page 28
**PLACE2BE (A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLACE2BE (CONTINUED)**
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: 11 November 2022
Page 29
## **PLACE2BE**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022**
|**Note**
4
5
7
8
6
**Income from:**
Donations and legacies
Charitable activities
Trading income
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net movement in funds before other**
**recognised gains**
**Other recognised gains:**
Gains on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**
9
10|**Unrestricted**
**funds**
**2022**
**£000**
**5,348**
**8,704**
**20**
**-**
**155**
**14,227**
**1,195**
**14,810**
**16,005**
**(1,778)**
**85**
**(1,693)**
**14,806**
**(1,693)**
**13,113**|**Restricted**
**funds**
**2022**
**£000**
**3,212**
**2,046**
**-**
**-**
**-**
**5,258**
**14**
**4,700**
**4,714**
**544**
**-**
**544**
**947**
**544**
**1,491**|**Total**
**funds**
**2022**
**£000**
**8,560**
**10,750**
**20**
**-**
**155**
**19,485**
**1,209**
**19,510**
**20,719**
**(1,234)**
**85**
**(1,149)**
**15,753**
**(1,149)**
**14,604**|_Total_
_funds_
_2021_
_£000_
_9,175_
_10,126_
_-_
_4_
_-_|
|---|---|---|---|---|
|||||_19,305_|
|||||_876_
_18,089_|
|||||_18,965_|
|||||_340_|
|||||_110_|
|||||_450_|
|||||_15,303_
_450_|
|||||_15,753_|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 34 to 55 form part of these financial statements.
Page 30
## **PLACE2BE (A company limited by guarantee) REGISTERED NUMBER: 02876150**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
15
Investment property
14
**Current assets**
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
18
**Total net assets**
**Charity funds**
Restricted funds
19
Unrestricted funds
19
**Total funds**|**3,377**
**6,802**
**10,179**
**(1,691)**|**2022**
**£000**
**2,096**
**1**
**4,657**
**6,754**
**8,488**
**15,242**
**(638)**
**14,604**
**1,491**
**13,113**
**14,604**|_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_|
|---|---|---|---|---|
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**|
|Chairof Trustees|Chief Executive|
|Date:28thSeptember 2022||
The notes on pages 34 to 55 form part of these financial statements.
Page 31
## **PLACE2BE (A company limited by guarantee) REGISTERED NUMBER: 02876150**
## **CHARITY BALANCE SHEET AS AT 31 MARCH 2022**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
15
Investment property
14
**Current assets**
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
18
**Total net assets**
**Charity funds**
Restricted funds
19
Unrestricted funds
19
**Total funds**|**3,389**
**6,768**
**10,157**
**(1,670)**|**2022**
**£000**
**2,096**
**2**
**4,657**
**6,755**
**8,487**
**15,242**
**(638)**
**14,604**
**1,491**
**13,113**
**14,604**|_5,125_
_5,768_
_10,893_
_(1,811)_|_2021_
_£000_
_2,691_
_2_
_4,560_
_7,253_
_9,082_
_16,335_
_(606)_
_15,729_
_946_
_14,783_
_15,729_|
|---|---|---|---|---|
The charity's net movement in funds for the year was £(1,125k) (2021 - £426k).
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**|
|Chairof Trustees|Chief Executive|
|Date:28th September 2022||
The notes on pages 34 to 55 form part of these financial statements.
Page 32
**(A company limited by guarantee)**
## **PLACE2BE**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
|**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**|**2022**
**£000**
**1,157**
**(112)**
**(112)**
**(44)**
**(44)**
**1,001**
**5,801**
**6,802**|_2021_
_£000_
_3,649_
_(716)_
**(716)**
_(40)_
**(40)**
**2,893**
_2,908_
_5,801_|
|---|---|---|
The notes on pages 34 to 55 form part of these financial statements
Page 33
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. General information**
Place2Be is a private, limited by guarantee, company (registered number 02876150), which is incorporated in England and domiciled in the UK. Place2Be is registered under a charity with registration numbers 1040756 and SC038649. 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 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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 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.
Page 34
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. Accounting policies (continued)**
## **2.3 Income**
## **Voluntary Income**
Income received by way of donations is accounted for when conditions for their 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. 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 dependant on certain activities being completed in a future accounting period.
## **Training Income**
Training income is recognised when the training has been delivered. Invoiced amounts are held as deferred income until delivered.
## **School Services Income**
Schools are typically invoiced in April for the year to end of March so as to be consistent with Place2Be 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 35
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. Accounting policies (continued)**
## **2.6 Corporation tax and taxation**
Income tax expense represents the tax currently payable. This tax currently payable is based on taxable profit for the year. The taxable profit only arises from the non charitable trading activity undertaken. The Group's liability for current tax 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 depreciation**
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 are being 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 reducing balance 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.
## **2.8 Investments**
Investments represent investment in the 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. Investments are those funds held on short term deposit. These are shown at market value and changes in value in the year, whether or not realised, are reported in the statement of financial activities.
## **2.9 Investment properties**
Property investments are valued using professional advice 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 2022 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 £7,862k (2021: £8,204k). Financial assets at fair value through income or expenditure of £nil (2021: £nil) and financial liabilities at amortised cost of £1,619k (2021: £1,641k).
Page 36
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. Accounting policies (continued)**
## **2.11 Pensions**
Place2Be offers a personal defined contribution 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 12.
## **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 2, 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 £292k for the year (2021: £381k), representing gifts in kind, primarily in respect of legal and professional services estimated by the providers at £170k (2021: £223k). This income and corresponding expenditure is included in the accounts under appropriate headings and contained within the analysis reported in notes 4-10.
Page 37
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**2022**
**£000**
Companies and corporate trusts
1,586
Other trusts and charities
1,546
Corporate gifts in kind
292
Government grants
8
Private donations and events
1,916
5,348|**Restricted**
**funds**
**2022**
**£000**
1,431
1,305
-
-
476
3,212|**Total**
**funds**
**2022**
**£000**
**3,017**
**2,851**
**292**
**8**
**2,392**
**8,560**|_Total_
_funds_
_2021_
_£000_
_3,108_
_2,930_
_381_
_630_
_2,126_|
|---|---|---|---|
||||_9,175_|
## **5. Activities in Futherance of Charity Objectives**
|**Unrestricted**
**funds**
**2022**
**£000**
Schools
7,966
Government and Clinical Commissioning
Groups
-
Training
738
8,704|**Restricted**
**funds**
**2022**
**£000**
-
2,046
-
2,046|**Total**
**funds**
**2022**
**£000**
**7,966**
**2,046**
**738**
**10,750**|_Total_
_funds_
_2021_
_£000_
_7,955_
_1,720_
_451_|
|---|---|---|---|
||||_10,126_|
Page 38
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **6. Other income**
|Rental income
Insurance income
Other income|**Unrestricted**
**funds**
**2022**
**£000**
119
10
26
155|**Total**
**funds**
**2022**
**£000**
**119**
**10**
**26**
**155**|_Total_
_funds_
_2021_
_£000_
_-_
_-_
_-_|
|---|---|---|---|
||||_-_|
## **7. Income from other trading activities Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2022**
**£000**
Companies and corporate trusts
20
**8.**
**Investment income**
**Unrestricted**
**funds**
**2022**
**£000**
Investment income
-|**Total**
**funds**
**2022**
**£000**
**20**
**Total**
**funds**
**2022**
**£000**
**-**|_Total_
_funds_
_2021_
_£000_
_-_|
|---|---|---|
|||_Total_
_funds_
_2021_
_£000_
_4_|
Page 39
## **PLACE2BE**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **9. Cost of generating funds**
|**Unrestricted**
**funds**
**2022**
**£000**
Staffing costs
940
Advisors and consultants
41
Event costs
79
Other
135
**Total 2022**
1,195
_Total 2021_
_876_|**Restricted**
**funds**
**2022**
**£000**
-
-
-
14
14
_-_|**Total**
**funds**
**2022**
**£000**
**940**
**41**
**79**
**149**
**1,209**
_876_|_Total_
_funds_
_2021_
_£000_
_774_
_20_
_12_
_70_|
|---|---|---|---|
||||_876_|
|||||
## **10. Charitable activities**
|Direct costs
Central costs
**Total 2022**
_Total 2021_|**Mental**
**health**
**services &**
**support**
**2022**
**£000**
11,337
5,422
16,759
_15,373_|**Learning &**
**development**
**2022**
**£000**
1,288
539
1,827
_2,104_|**Raising**
**awareness &**
**promoting**
**understanding**
**2022**
**£000**
651
273
924
_612_|**Total**
**funds**
**2022**
**£000**
**13,276**
**6,234**
**19,510**
_18,089_|_Total_
_funds_
_2021_
_£000_
_13,410_
_4,679_|
|---|---|---|---|---|---|
||||||_18,089_|
|||||||
## **11. Auditor's remuneration**
||**2022**|_2021_|
|---|---|---|
||**£000**|_£000_|
|Fees payable to the charity's auditor in respect of:|||
|Auditor's remuneration audit|**28**|_25_|
|Auditor's remuneration other services|**8**|_10_|
Page 40
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **12. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**Group**
**2022**
**£000**
**13,624**
**1,233**
**649**
**15,506**|_Group_
_2021_
_£000_
_12,698_
_1,124_
_605_|
|---|---|---|
||||
|||_14,427_|
Included in the above are redundancy and termination costs in the year to 31 March 2022 of £62k relating to 23 members of staff (2021: £151k and 40 members of staff). All costs were paid in the year.
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**
**2022**
**No.**
**473**
**23**
**54**
**550**|_Group_
_2021_
_No._
_455_
_17_
_48_|
|---|---|---|
||||
|||_520_|
The average headcount expressed as full-time equivalents was:
|Operations, Training and Research
Fundraising
Support (including HR, Finance and IT)|**Group**
**2022**
**No.**
**307**
**22**
**51**
**380**|_Group_
_2021_
_No._
_307_
_16_
_43_|
|---|---|---|
||||
|||_366_|
Page 41
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **12. Staff costs (continued)**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**Group**|_Group_|
|---|---|---|
||**2022**|_2021_|
||**No.**|_No._|
|In the band £60,001 - £70,000|**4**|_4_|
|In the band £70,001 - £80,000|**4**|_4_|
|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 totaled £41k (2021: £43k).
**.**
## **Remuneration of Key Management Personnel**
The total value of employment benefits including salary, pension and employers National Insurance received by Trustees and the executive team:
||**2022**|_2021_|
|---|---|---|
||**£000**|_£000_|
|Trustees|**-**|_-_|
|Executive team|**744**|_707_|
£642.16 of travel costs were reimbursed to Trustees during the year (2021: No expenses were reimbursed to Trustees).
In 2022, an additional £63k was paid to contractors activing as key management in an interim capacity.
Page 42
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **13. Tangible fixed assets**
## **Group and Company**
|**Cost or valuation**
At 1 April 2021
Additions
Disposals
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
**Net book value**
At 31 March 2022
_At 31 March 2021_|**Long**
**leasehold**
**Land &**
**Buildings**
**£000**
**2,680**
**9**
**-**
**2,689**
**785**
**291**
**-**
**1,076**
**1,613**
_1,895_|**Computers**
**and Other**
**assets**
**£000**
**1,498**
**103**
**(138)**
**1,463**
**702**
**410**
**(132)**
**980**
**483**
_796_|**Total**
**£000**
**4,178**
**112**
**(138)**
**4,152**
**1,487**
**701**
**(132)**
**2,056**
**2,096**
_2,691_|
|---|---|---|---|
All fixed assets are used for direct charitable purposes.
Page 43
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **14. Investment property**
## **Group and charity**
|**Valuation**
At 1 April 2021
Additions
Surplus on revaluation
At 31 March 2022|**Angel Gate**
**£000**
**4,560**
**12**
**85**|
|---|---|
||**4,657**|
The 2022 valuations of the Angel Gate property were made on an open market value for existing use basis by Foxglove Property Consultants Ltd.
The property was transferred to investment property in 2018 on the basis that the property is no longer being used for operational purposes by the charity.
## **15. Fixed asset investments**
|**Group**
Cost or valuation of COIF Funds at1 April 2021
At 31 March 2022
**Charity**
Cost or valuation of COIF Funds and Investment in Subsidiary at 1 April 2021
At 31 March 2022|**£000**
**1**|
|---|---|
||**1**|
||**£000**
**2**|
||**2**|
Page 44
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **16. Debtors**
|Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2022**
**£000**
**775**
**-**
**13**
**2,589**
**3,377**|_Group_
_2021_
_£000_
_609_
_-_
_27_
_4,490_
_5,126_|**Company**
**2022**
**£000**
**775**
**11**
**13**
**2,590**
**3,389**|_Company_
_2021_
_£000_
_609_
_4_
_23_
_4,489_|
|---|---|---|---|---|
||||||
|||||_5,125_|
Included within debtors is £1.684m representing prepaid rent on 175 St. John Street.
## **17. Creditors: Amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2022**
**£000**
**68**
**185**
**389**
**145**
**904**
**1,691**|_Group_
_2021_
_£000_
_122_
_369_
_319_
_128_
_882_
_1,820_|**Company**
**2022**
**£000**
**68**
**182**
**387**
**145**
**888**
**1,670**|_Company_
_2021_
_£000_
_122_
_369_
_314_
_129_
_877_|
|---|---|---|---|---|
||||||
|||||_1,811_|
## **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|**2021**
**£000**
230
163
7
400|**Released in**
**the year**
**£000**
(10,296)
(453)
(7)
(10,756)|**Deferred in**
**the year**
**£000**
10,283
394
-
10,677|**Total**
**funds**
**£000**
**217**
**104**
**-**|
|---|---|---|---|---|
|||||**321**|
Page 45
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **18. Creditors: Amounts falling due after more than one year**
|Bank loans|**Group**
**2022**
**£000**
**638**
**638**|_Group_
_2021_
_£000_
_606_
_606_|**Company**
**2022**
**£000**
**638**
**638**|_Company_
_2021_
_£000_
_606_|
|---|---|---|---|---|
|||||_606_|
On 21 July 2021 Place2Be entered a new mortgage agreement with Lloyds Bank Plc in the sum of £750,000 in relation to the Angel Gate investment property. This replaced the previous mortgage agreement with Future Builders England Ltd which was repaid at the point of transfer.
The Lloyds mortgage is a fixed rate loan agreement at 2.52%, repayable over 10 years.
## **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|**2022**
**£000**
**68**
**366**
**271**
**705**|_2021_
_£000_
_122_
_490_
_116_
_728_|
|---|---|---|
Page 46
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **19. Statement of funds**
## **Statement of funds - current year**
|**Designated funds**
Property
Development and Strategic
Future Awards Ceremonies
General
**Unrestricted funds**
**Restricted funds**
Other restricted Funds
Voluntary Income & School
Service
The Art Room
Grenfell
Banbury Project
Moondance
Beaverbrook Foundation
Nominet
Euromonitor
Four Acre Trust
Tim Robinson
Fidelity Grant
Scottish Government
Lord Mayors Appeal
Juliet Garmoyle
Prudence Trust
Morgan Stanley
Young London Appeal
Deloitte
Voreda|**Balance at 1**
**April 2021**
**£000**
**5,545**
**4,491**
**59**
**10,095**
**4,711**
**14,806**
**-**
**326**
**28**
**40**
**10**
**-**
**35**
**-**
**-**
**-**
**15**
**-**
**66**
**301**
**-**
**-**
**76**
**50**
**-**
**-**|**Income**
**£000**
**-**
**-**
**-**
**-**
**14,227**
**14,227**
**65**
**3,188**
**25**
**-**
**68**
**161**
**25**
**20**
**50**
**99**
**63**
**124**
**132**
**306**
**155**
**152**
**253**
**3**
**76**
**212**|**Expenditure**
**£000**
**(405)**
**(1,667)**
**-**
**(2,072)**
**(13,933)**
**(16,005)**
**-**
**(3,015)**
**(53)**
**(40)**
**(54)**
**-**
**(29)**
**-**
**-**
**(38)**
**(44)**
**(79)**
**(198)**
**(557)**
**-**
**-**
**(185)**
**(53)**
**(76)**
**(212)**|**Gains/**
**(Losses)**
**£000**
**85**
**-**
**-**
**85**
**-**
**85**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31 March**
**2022**
**£000**
**5,225**
**2,824**
**59**|
|---|---|---|---|---|---|
||||||**8,108**|
||||||**5,005**|
||||||**13,113**|
||||||**65**
**499**
**-**
**-**
**24**
**161**
**31**
**20**
**50**
**61**
**34**
**45**
**-**
**50**
**155**
**152**
**144**
**-**
**-**
**-**|
Page 47
## **PLACE2BE**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **19. Statement of funds (continued)**
## **Statement of funds - current year (continued)**
|||||||||||**Balance at**|**Balance at**|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||**Balance at 1**||||||**Gains/**|**31**|**March**|
||||**April 2021**||**Income**||**Expenditure**||**(Losses)**||**2022**|
||||**£000**||**£000**||**£000**||**£000**||**£000**|
|White and Case|Events||**-**||**81**||**(81)**||**-**||**-**|
||||**947**||**5,258**||**(4,714)**||**-**||**1,491**|
|**Total funds**|||**15,753**||**19,485**||**(20,719)**||**85**|**14,604**||
|**Statement of funds - prior year**||||||||||||
|||||||||||_Balance at_||
||_Balance at_||||||_Transfers_||_Gains/_|_31 March_||
||_1 April 2020_||_Income_||_Expenditure_||_in/out_||_(Losses)_||_2021_|
||_£000_||_£000_||_£000_||_£000_||_£000_||_£000_|
|**Designated**||||||||||||
|**funds**||||||||||||
|Property|_5,496_||_-_||_-_||_(61)_||_110_||_5,545_|
|Development||||||||||||
|and Strategic|_5,178_||_-_||_(687)_||_-_||_-_||_4,491_|
|Future Awards||||||||||||
|Ceremonies|_59_||_-_||_-_||_-_||_-_||_59_|
||_10,733_||_-_||_(687)_||_(61)_||_110_|_10,095_||
|General|_3,443_||_15,633_||_(14,426)_||_61_||_-_||_4,711_|
|**Unrestricted**||||||||||||
|**funds**|_14,176_||_15,633_||_(15,113)_||_-_||_110_|_14,806_||
Page 48
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **19. Statement of funds (continued)**
|**Restricted**
**funds**
Voluntary
Income & School
Service
The Art Room
Grenfell
Banbury Project
Moondance
Beaverbrook
Foundation
Nominet
Euromonitor
Four Acre Trust
Tim Robinson
Fidelity Grant
Scottish
Government
Lord Mayors
Appeal
Juliet Garmoyle
Prudence Trust
Morgan Stanley
Young London
Appeal
**Total funds**|_279_
_140_
_123_
_-_
_8_
_-_
_-_
_-_
_22_
_-_
_5_
_-_
_366_
_10_
_-_
_174_
_-_
_1,127_
_15,303_|_2,067_
_36_
_240_
_53_
_-_
_50_
_550_
_20_
_-_
_15_
_-_
_189_
_401_
_-_
_1_
_-_
_50_
_3,672_
_19,305_|_(2,020)_
_(148)_
_(323)_
_(43)_
_(8)_
_(15)_
_(550)_
_(20)_
_(22)_
_-_
_(5)_
_(123)_
_(466)_
_(10)_
_(1)_
_(98)_
_-_
_(3,852)_
_(18,965)_|_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_110_|_326_
_28_
_40_
_10_
_-_
_35_
_-_
_-_
_-_
_15_
_-_
_66_
_301_
_-_
_-_
_76_
_50_|
|---|---|---|---|---|---|---|
|||||||_947_|
|||||||_15,753_|
Page 49
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **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.
**City Bridge Trust** . Funding for Place2Be Service Manager in the North West London area.
**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.
**Beaverbrook Foundation.** This represents funds to help boost capacity to fundraise from schools and to reach wider audiences.
**Tim Robinson.** Represents funding to support research projects.
**Scottish Government.** Represents funding to provide access to health and wellbeing support for school staff.
**Lord Mayors Appeal.** Represents funding to support Place2Think sessions for London teachers and to fund digital training for Counsellors on Placement
**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.
**Moondance** . Represents funding to support an 18 month project to create a sustainable, future-proofed whole school mental health service in Wales
**Nominet** . Represents funding to develop and enhance the Parenting Smart site which provides resources and support for parents on a wide range of topics
**Euromonitor** . A three year grant to fund our parenting support in one service area including provision of Family Practitioners, an online parenting course and Parenting Smart
**Four Acre Trust** . Grant to fund salaries and associated costs for post holders to support delivery of Place2Be services in Birmingham and Nottingham
**Fidelity.** Fund to support expansion of Place2Be’s mental health services in a fifth operational region (Midlands and Wales)
**Juliet Garmoyle.** Fund to introduce Place2Be Mental Health Services in schools in the South West of England for the first time, initially in the North Devon region.
Page 50
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Prudence Trust.** Fund to support Place2Be services in 19 schools across the London and South and London and West operational regions as outlined in the Grant Agreement.
## **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 from Mohn Westlake 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.
**iii) Unrestricted Charitable Fund.** This represents the balance of Place2Be funds.
## **20. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£000**
Tangible fixed assets
2,096
Fixed asset investments
1
Investment property
4,657
Current assets
8,688
Creditors due within one year
(1,691)
Creditors due in more than one year
(638)
**Total**
13,113|**Restricted**
**funds**
**2022**
**£000**
-
-
-
1,491
-
-
1,491|**Total**
**funds**
**2022**
**£000**
**2,096**
**1**
**4,657**
**10,179**
**(1,691)**
**(638)**
**14,604**|
|---|---|---|
Page 51
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **20. 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_
_2021_
_£000_
_2,691_
_1_
_4,560_
_9,980_
_(1,820)_
_(606)_
_14,806_|_Restricted_
_funds_
_2021_
_£000_
_-_
_-_
_-_
_947_
_-_
_-_
_947_|_Total_
_funds_
_2021_
_£000_
_2,691_
_1_
_4,560_
_10,927_
_(1,820)_
_(606)_|
|---|---|---|---|
||||_15,753_|
## **21. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Decrease in debtors
Decrease in creditors
**Net cash provided by operating activities**
**22.**
**Analysis of cash and cash equivalents**|**Group**
**2022**
**£000**
**(1,234)**
**701**
**1,819**
**(129)**
**1,157**|_Group_
_2021_
_£000_
_340_|
|---|---|---|
|||_660_
_3,059_
_(410)_|
||||
|||_3,649_|
||||
||**Group**|_Group_|
|---|---|---|
||**2022**|_2021_|
||**£000**|_£000_|
|Cash in hand|**6,802**|_5,801_|
Page 52
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **23. 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**
**2021**
**£000**
**5,801**
**(122)**
**(606)**
**5,073**|**Cash flows**
**£000**
**1,001**
**54**
**(32)**
**1,023**|**At 31 March**
**2022**
**£000**
**6,802**
**(68)**
**(638)**|
|---|---|---|---|
||||**6,096**|
## **24. 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 2022.
The following lease payments have been recognised as an expense in the Statement of financial activities:
||**Group**|_Group_|**Company**|_Company_|
|---|---|---|---|---|
||**2022**|_2021_|**2022**|_2021_|
||**£000**|_£000_|**£000**|_£000_|
|Lease payments|**384**|_384_|**384**|_384_|
## **25. Related party transactions**
During the year ended 31 March 2022 the charity received £458k (2021: £713k) by way of donations and gifts in kind from related parties.
## **26. Donations from Trustees**
Donations from Trustees during the year ended 31 March 2022 amounted to £13,895 from 4 Trustees (£2,200 from 7 Trustees).
## **27. Principal subsidiaries**
The following was a subsidiary undertaking of the charity:
Page 53
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **27. Principal subsidiaries (continued)**
|**Name**|**Company**|**Principal activity**|**Class of**|**Holding**|
|---|---|---|---|---|
||**number**||**shares**||
|||||-%|
|Place2Be Trading Ltd|12269387|Non-trading|Ordinary|100%|
|The 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|**20**|**(7)**|**13**|**1**|
Page 54
**(A company limited by guarantee)**
## **PLACE2BE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **28. Comparative Statement of Financial Activities**
Page 55