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2023-03-31-accounts

PLACE2BE TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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 28
Consolidated statement of financial activities 32
Consolidated balance sheet 33
Charity balance sheet 35
Consolidated statement of cash flows 37
Notes to the financial statements 38

PLACE2BE

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31st March 2023

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 Ms Elizabeth Greetham Ms Sian Hill Ms Elpha LeCointe Mr Adrian Levy Sir Charlie Mayfield Mr John Murphy Dr Margaret Murphy Professor Stephen Scott Mr Richard Douglas Appointed 8th June 2022 Professor Osama Khan 28th September 2022 Mr Tim Robinson Appointed 28th September 2022 Mr Stephen Dorrell Resigned 8th June 2022 Sir William Russell Resigned 8[th] June 2022

Chief Executive

Ms Catherine Roche

Executive Team

Ms Niki Cooper Ms Sarah Houghton Mr Nicholas Herod Ms Jacqui Segal Ms Wande Showunmi Ms Sarah Williams-Robbins Mr Simon Yates

Clinical Director Director of Mental Health Workforce Development Chief Financial Officer & Company Secretary Director of Fundraising Director of People and Culture Director of Marketing and Communications Director of Operations

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

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PLACE2BE

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 March 2023

Foreword by Chair and CEO

Childhood is when we explore, learn and play. It should be a happy time, enabling us to lay the foundations for the rest of our lives. Unfortunately, the reality for many young people is less positive. The latest NHS data shows that one in six children have a diagnosable mental health issue. While this figure has remained static for the past two years, it is no cause for celebration. This is a huge increase from the one in nine children with a diagnosable condition in 2017. It means five children in every classroom are dealing with some form of anxiety, depression or more serious mental health condition.

The legacy of the pandemic, combined with the increasing cost of living, is having a disproportionate impact on the UK’s most vulnerable children and families. For many schools, the rising cost of fuel and other utilities, along with the pressure to maintain the upkeep of school buildings and retain teaching staff, has created a difficult environment. Many are having to make tough choices about competing priorities, while continuing to consider the wellbeing needs of their school communities.

Quality, depth and systems-wide approach

Like other organisations operating in the education and health sector, these challenges have required us to be more resilient and flexible in our approach. In the past year, our focus has also been on refining the quality and depth of our service in schools, as well as seeking to support as many communities as possible. We have continued to expand our coverage in schools and during the year we worked in close partnership with 520 schools, supporting almost 300,000 students, with more schools coming on board in the academic year ahead. Our training and resources have reached thousands more schools. The top issues that children and young people are bringing to sessions with our expert teams continue to be friendship, worry, sadness, and anger issues, along with concerns about family relationships. Many young people come to support a school friend; and coping with the pressures of academic achievement continues to be a common theme.

Thanks to the strength of our long-standing relationships with partner schools and with funders across the UK, we have been able to ride the stormy fiscal waters this year. We have also been navigating the changes in the local landscape to forge connections across the education and health sectors and explore opportunities with the newly created Integrated Care Boards (ICBs). With their interest in prevention, this brings the potential for shared or joint commissioning across health and education services. We were delighted to be appointed as the mental health provider for Ark Multi Academy Trust’s network of 39 schools in spring 2023; and to be commissioned by the London Borough of Brent to provide our Journey of Hope group programme in schools across the borough.

Supporting the whole school

Our work extends beyond support for students: A whole-school approach requires supporting the trusted adults around the child – particularly parents, carers and teachers – building their knowledge, skills and confidence to recognise and respond when someone is struggling, and to know where to go for further support. We have long pushed for mental health to be an embedded part of teacher training and professional development for school staff. We are therefore very pleased to expand our teacher training, working with Teach First and via our Mental Health Champions training, as a specialist partner of the National Institute of Teaching (NIoT), the Department for Education (DfE) backed consortium. Through our Senior Mental Health Leads course, quality assured by the DfE, we are helping school leaders to grow their leadership skills in positive mental health, to develop a school culture where everyone can thrive.

Our work with parents continues with the launch of our Parenting Smart online course, developed in partnership with the South London and Maudsley Foundation Trust. It builds on the success of our free Parenting Smart self-help website, offering practical tips and advice to parents and cares of primary aged children, which attracted some 37,000 new users in the past year.

Building the workforce

Place2Be has made good progress in our mission to help build a more inclusive, skilled workforce of child mental health professionals in the UK. In the past academic year, we launched a suite of new training courses and have seen consistently high numbers of participants attending our entry-level Taster Days, along with our Level 2 and Level 3 programmes and our Postgraduate diploma. We launched two new post-qualifying courses: our Level 6 Certificate in Clinical Supervision; and our Level 5 Certificate for adult-qualified counsellors who want to work with children. We are really pleased that many of the students on these courses have gone on to secure paid roles with Place2Be and are helping to meet the demand in school communities. We were also delighted to be able to offer ten substantial bursaries to students who might otherwise have struggled to complete their training without financial assistance. Taking a longer view of the systemic changes needed to open up the profession to students from a more diverse range of backgrounds, Place2Be continues to lead the therapy sector’s Coalition for Inclusion and Anti-Oppressive Practice. The Coalition will be publishing a toolkit this autumn to provide training

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PLACE2BE

(A company limited by guarantee)

organisations with practical guidance on creating fully inclusive training programmes.

A career with purpose

We also launched a recruitment drive in the past year. The initiative focused on the wider benefits of working in an organisation that makes a real difference to young people’s lives. The strapline – For a career with purpose, this is your place – articulates why colleagues choose to work at Place2Be. With compassion and empathy, our expert teams create a safe space within the school environment where children feel heard, valued and understood. By working in partnership with schools, we help young people to overcome their emotional challenges, building resilience and essential coping skills that will take them into their adult lives.

Communication and influence

Children’s Mental Health Week continues to be a highlight of the year. Connection is such an important factor in having good mental health and wellbeing, so it was a natural theme for the 2023 Week. We focused on the huge importance of interacting with others, particularly after the restrictions during the pandemic. As ever, the Week provided a platform for discussion and debate around the provision of children’s mental health support and the importance of early intervention. We have also continued to progress our public affairs work against a backdrop of ministerial and leadership changes and challenging economic times. We have contributed to several policy consultations, including submitting evidence to the Government’s major conditions strategy and to the Education Select Committee’s inquiry into Ofsted’s remit. Drawing on evidence from our practice, in May we hosted a well-attended sector roundtable which brought together leading figures from education, health, justice and voluntary sectors to focus on solutions to the growing concern around school exclusions and suspensions.

Investment in research

Along with the on-going evaluation of our service delivery, we are particularly grateful to the City Bridge Trust, our trustee Tim Robinson and the Law Family Foundation for their significant investment in our two large scale research programmes which launched in the past year. Addressing two key research questions, these programmes will give us valuable insight into the effectiveness of the whole-school approach to mental health and the long-term impact of our one-to-one counselling. We will use the insight from these and our evidence from our work in schools to inform the national system and to deliver better mental health support for children from an early age.

In this challenging economic climate, we are more grateful than ever to those organisations and individuals who continue to support our work so generously – including those who ran marathons, climbed mountains, and, in the case of two seven year-old supporters, gave up their birthday present money to support our work in schools!

Planning for the future

As we approach our 30[th] year, we are looking ahead to the on-going and future mental health needs of school communities to ensure we continue to deliver our vision for every child to have easy access to the support they need. We will also explore more ways to remove any barriers to that support, and to advocate for better integration across sectors. Our ambition is to play a greater role in the sharing of best practice, and to give children and young people a bigger voice, enabling them to participate even more actively in our work.

Our heartfelt appreciation goes to the collective ‘team’ that all plays a part in the support and services that Place2Be provides – from our hugely talented trustees and pro bono advisors who give their time, energy and expertise; to our school communities who welcome us and are there daily for their children and young people; to our colleagues in wide range of roles – Place2Be staff, counsellors on placement, students, and trainers – who play a vital part in supporting some of the most deprived communities across the UK. As ‘Ben’, a Year 6 boy in a new partner school in Devon, told his counsellor: “I couldn’t keep this inside, I need to talk about it, so I came to tell you”. Without your support, we could not be there for children like Ben.

On behalf of everyone at Place2Be, thank you so much.

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

Our work focuses on four areas:

Why this matters:

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PLACE2BE

(A company limited by guarantee)

Section 2: Strategic Report Section 2a: Achievements and performance against 2022/2023 commitments Our activity and impact at a glance

Providing high quality mental health services within schools

Direct in-school delivery:

We worked in partnership with a total of 520 schools, reaching 298,000 children and young people (vs 500 schools in 21/22, reaching 243,000 children and young people).

Building skills, confidence and knowledge in schools

10,999 school staff undertook our Mental Health Champions Foundation (MHCF) programme (vs 17,022 last year). 94% of those who completed the course would recommend it and 70% ‘learned something that resulted in a change in their action, behaviour or attitude in the workplace’.

In our targeted work ( In the academic year 22/23)

Impact/Outcomes:

71,692 school staff have now completed this course. Following completion of the MHCF programme, almost 3,000 education professionals joined our online community, The Place2Be Staffroom. It has an average of 11,600 monthly views of resources and 20,182 learning interactions .

514 participants completed our Senior Mental Health Lead programme (511 last year), for which we are a Department for Education approved provider.

10,723 downloads of our free Art Room Activities, which are available to all on the website (vs 12,748 in the previous year).

Raising awareness and influencing

197,000 downloads of our Children’s Mental Health Week school resources on the theme ‘Let’s Connect’ (vs 129,000 in 22).

Parenting training

In Nov 22 we published the protocol for the Law Family Research Programme, Evaluating Place2Be’s whole-school approach to support mental health and wellbeing. It sets out our plan for the 3- year project in terms of research questions, methods and analyses. It is registered with the OSF (Open Science Framework): osf.io/fmbg6

Race is complicated: A toolkit for psychological therapies training launches in Oct 23. Place2Be has overseen the development of the toolkit in partnership with fellow members of the Coalition for Inclusion and Anti-Oppressive Practice, chaired by Place2Be.

Reach and digital engagement

Policy and influence

In May 23, we hosted a sector roundtable bringing together leaders from the education and youth sector highlighting the link between poor mental health and school exclusions in May 23. We have also submitted evidence to several government enquiries (see page 10).

Building a child mental health workforce

267 students on Level 2 Award (200 21/22)

145 students on Level 3 (93 21/22)

39 students on Postgraduate Diploma (21/22)

15 Counsellors on Placement started our Certificate in working with children for adult-qualified practitioners.

570 people attended a ‘Taster Day’ [vs 546 previous year]

Counsellors on Placement Hub

841 individual CoPs attended a workshop ( 835 previous year) and 755 of these attended more than one workshop ( 619 last year)

We ran 104 workshops for staff, each a day-long course.

622 new users joined the Place2Be Learning Hub generating 37.7k interactions. This is our internal Online Learning Resource for clinical and non-clinical courses and guidance.

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PLACE2BE (A company limited by guarantee)

Overview of delivery against our business strategy in 2022/23

In the financial year 2022/23 we continued to focus on our four priority areas outlined in our business strategy, working towards our 2025 goals. In a challenging economic climate, we continued to deliver against our plans, with a continued focus on quality:

Providing high quality mental health services in schools

Figures published by the NHS in November 2022 show that the number of diagnosable mental health conditions remain static, affecting one in six children. Sadly, the levels have increased among older teenagers and, across our frontline services, we have seen rising numbers of young people struggling with higher level concerns, from anxiety, self-harm, eating difficulties and suicidal thoughts. The good news is that by intervening early and by working in partnership with schools to improve their knowledge and understanding of mental wellbeing, we can prevent a child’s emotional issues from escalating as they grow up.

The economic climate of the past year has placed school budgets under extreme pressure, with headteachers and governors having to make tough choices around expenditure. Effective community mental health support involves interaction on a local level and a shift towards addressing population health more holistically. Against this backdrop, Place2Be has focused on retaining and strengthening our existing partnerships, drawing in and knitting together income streams from health and education with their shared responsibility for supporting children’s mental wellbeing, to make best use of the ‘public pound’. In the past financial year, we worked in partnership with 520 schools, supporting a school population of 298,139 children and young people.

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(A company limited by guarantee)

PLACE2BE

While this is lower than forecast, we are pleased to have secured an increased number of commissions from statutory bodies, including ICBs and Local Authorities (LAs). We expanded into more secondary (higher) schools in Scotland, following a new partnership with East Lothian which also involves supporting the relevant feeder primaries. We are pleased to be recommissioned to provide support across schools in Renfrewshire and Aberdeenshire.

In Wales, as a result of local authority and fundraising support, we are now supporting 15 additional schools across Rhondda and Llanelli.

We were also delighted to be successful in the tender process to become the sole mental health partner for Ark, an excellent opportunity for us to work even more closely with this leading Multi Academy Trust’s network of 39 schools. In June 2023, we hosted our Board of Trustees meeting at Ark Elvin Academy (in Wembley, North London) where we had the opportunity to meet students and staff to discuss the impact our support is having on the school’s community.

The challenging fiscal climate has also led to us introduce greater flexibility in the range of services we offer to ensure we can continue to deliver against our mission to support more children and young people in the face of school budgeting challenges. For example, we secured a new contract in Brent in London to deliver our Journey of Hope programme in 11 schools in this area following the success of this programme in Wandsworth. We also have been commissioned to co-design and deliver a peer mentoring service, in partnership with the East London NHS Foundation Trust, to help young people support others with similar lived experience.

As part of a major research programme to measure the long-term impact of our school-based support, our work has also expanded into 20 new schools in the Salford, Greater Manchester area, generously funded by the Law Family Charitable Foundation.

We continued to focus on the quality and outcomes of our clinical work. At the heart of our delivery model and therapeutic work is the robust assessment and formulation of our interventions. This includes input from teachers, parents and the child or young person themselves. We are delighted to be industry champions in our completion rates, with 94% of cases having all relevant data gathered and interrogated to ensure each child receives the right intervention.

With an increased focus on robust assessment and having introduced additional targeted interventions, we are starting to see less dependency on one-to-one counselling as the solution for all children and young people presenting with difficulties. In the coming year, as teams gain confidence in these newer interventions, we expect to see an increase in the number of cases being delivered, including Journey of Hope, our CBT informed secondary school programme (KIT) and our parenting work. Nonetheless we are pleased to see an increase in the number of children seen in our one-to-one counselling sessions, at 7,361 for the past academic year (August 2022 to July 2023), up from 6,896 the previous year and this figure increases to 8,952 pupils if we include all targeted support sessions. This is a reflection of the increased number of service days we now provide to schools as well as the fact that interventions are now shorter (enabling us to provide more of these within the school day), with no loss of impact according to our outcome data. We have also seen a significant increase in the number of students booking their own Place2Talk appointment, at 38,318 (vs 33,249 ( previous academic year), a sign that we have returned to a more effective and business as usual whole-school approach. This is leading to more awareness and early help-seeking among students.

We are also pleased to report that 983 children and young people accessed the Journey of Hope intervention (up from 827 the previous year); and 120 young people accessed the CBT informed KIT intervention, up from 59 the previous year. The numbers accessing this intervention are now rising even further.

We also continued to develop and refine our support for parents and families. This includes our Personalised Individual Parent Training (PIPT), our Parenting Smart online course and the universally available Parenting Smart self-help website.

361 parents accessed the face-to-face parenting training intervention (PIPT) delivered by our Family Practitioners; and numbers are continuing to rise as the service becomes more well known across the regions and nations. Our data is showing we are accessing a more complex cohort of children; and outcomes for parental self-efficacy are very positive.

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PLACE2BE (A company limited by guarantee)

In the financial year 2022-23 there were 37,389 new users on the Parenting Smart site (target was 30K). The net promoter score is 53, considered very good by industry benchmarks.

In the past year, 819 parents started the Parenting Smart online course. We have adapted the course based on our learnings and completion went up from 13% to 25.8% by the end of the financial year, ahead of our target completion rate of 20%. Completion rates continue to rise, and the most recent cohort in 23-24 is 29.5%. We will be offering the Parenting Smart online course to a cohort from the Scottish Fostering and Adoption Network from September 2023. As the first course being delivered outside of our partner schools, this gives us an opportunity to consider the wider potential for commissions.

Building confidence, skills and knowledge in schools, to promote a better understanding of mental health

School leaders, teachers and school staff play a crucial role in promoting positive mental health for their students, and spotting when professional support may be needed. We are pleased to have further developed our work in this area over the past year, in line with our commitments.

The appetite for our introductory level online Mental Health Champion Foundation (MHCF) programme continued during 2022/23. Almost 11,000 school staff took part in this award-winning programme – named ‘Best Learning technologies project – public & nonprofit’ in the Learning Technologies Awards 2022. Of participants who completed the course, 94% would recommend it to a colleague.

Our online community forum and support network for school staff – Place2Be Staffroom – grew in numbers and usage, with another 3,000 highly-engaged education professionals joining this interactive community. Users have enjoyed over 20,000 learning sessions each month with 11,600 views of the free school resources.

We have long advocated for mental health to be part of the teacher training system to lay the foundations for mental wellbeing to be fully integrated into a school’s culture. So, this year we are very pleased to have expanded our teacher training work in line with our ambition to increase knowledge, insight and understanding of mental health among school staff. Since January 2023 we are working with Teach First, offering our Mental Health Champion Foundation Programme as part of their teacher training, and we have been delighted to build on our existing relationships with further education partners in Scotland, through a new contract with the University of Glasgow, to contribute to their Postgraduate Diploma in Education. We have also expanded the reach of our Mental Health Champions training through our work as a specialist partner of the NioT, the DfE-backed consortium that will provide high quality training to the teaching profession in England.

We developed our quality-assured Senior Mental Health Leads training based on our front-line practice. The development of this course followed our proposed recommendation to the Government’s Green Paper, Transforming Children and Young People’s Mental Health Provision in 2017, in which we highlighted the need for high quality training for senior school leaders. In the past year, we have continued to deliver this course, in line with our contract with the DfE, to build knowledge and understanding among school leaders. In the past academic year 514 participants completed our Senior Mental Health Lead programme, with 80% of participants reporting that after completing the course, their school had put a whole-school mental health programme in place.

There was continued demand from school staff for some reflective space in schools to help them manage the mental health challenges of their students. In line with our revised priorities, 76 school staff completed our reflective supervision groups, Place2Think.

We continued to create and share quality resources to enable schools to support wellbeing. We are pleased with the widespread take-up of Place2Be’s free resources produced with expert input from our educational psychologists and school-based staff. In the past year, schools have downloaded over 10,000 copies of our Art Room activities, with 723,926 views of our video content. In addition, there were 197,000 downloads of our Children’s Mental Health Week resources for primary and secondary schools, on the theme of connection. All are available for free on our website.

Building the child mental health workforce

Our work can only happen thanks to the mental health professionals dedicated to supporting children and families. Our ambition is

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PLACE2BE

(A company limited by guarantee)

to widen the career opportunities and routes to a profession in child and young person mental health support, by making our professional training programmes more accessible to a more diverse workforce.

As leaders and innovators in this sector, a key development this year was the creation of our new programme for adult-qualified counsellors who want to work with children, now a Level 5 Certificate. The first cohort comprised some of our existing Counsellors on Placement and of the 18 participants, four had gained paid roles with Place2Be before the end of the programme. By the end of March 2023, we had received over 200 expressions of interest in the Autumn 2023 cohort of this certificated programme.

At the end of 2022 and into Spring of 2023, we have been recruiting for our new Level 4 Diploma in School-based Counselling. This is an intensive programme, full-time for one year, with much of the learning carried out on an enhanced placement. We are delighted to have been able to offer ten full bursaries for students who would struggle to find access to qualification without financial assistance – and applications for these bursaries have been strong. We have also looked for ways to align the attraction and recruitment process with the postgraduate diploma applications in future years. We are now working with the Marketing and Communications team to create a compelling narrative to encourage more people to consider training as a child counsellor with Place2Be.

Raising awareness of children and young people’s mental health

We have continued to advocate for the importance of early intervention, to drive change in the system so that all children have easy access to school-based mental health in the UK. The focus for Children’s Mental Health Week 2023, our annual promotional campaign, was ‘Let’s Connect’. This provided an ideal platform to showcase the importance of meaningful connections and relationships, which had been missed during the many periods of lockdown.

Ahead of the Week, we released data in partnership with BBC Newsround which revealed that 78% of children seen by a school counsellor within the last year had experienced anxiety in social situations. We were delighted that our Royal Patron The Princess of Wales visited a partner school in Bethnal Green, East London, to meet pupils and discuss the importance of connecting with others.

The Week provided a platform for important conversations and the need for cross-sector collaboration to support children and young people’s mental health. In a blog for the NHS Confederation, our CEO, Catherine Roche, reflected on the need to tackle inequalities to better support young people’s mental health. In a joint blog with NAHT (the school leaders’ union), we explored the role that schools play in helping children’s mental health and called for a properly funded network of support services.

We also joined forces with leaders from across the sector to pen a joint letter to The Telegraph, calling on decision-makers to be ambitious and devise a long-term plan for the wellbeing of all our children and young people. Thousands of pupils joined in the week’s activities, with 197,000 downloads of our tailor-made free resources. Schools, organisations and individuals got involved in our Fundraising Dress to Express days, raising over £100,000.

We have continued with our policy and public affairs advocacy work. With several changes in ministerial and party leadership roles the past 12 months, we have had to establish new relationships and contacts, as well as continue to focus on growing relationships with key partners and non-party political influencers across the health, education and third sector. In the past year, we have:

Children’s Mental Health Week was once again mentioned in the House of Commons, with supportive social posts from PM Rishi Sunak, politicians from across the political spectrum in England, Scotland and Wales, and from the Children’s Commissioner for England. In May 2023 we hosted a sector roundtable to discuss the impact and growing concern around school exclusions, which was well attended and helped to forge stronger relationships with current and new influencers who share in our mission. We have also had further conversations with the Children’s Commissioner for England to explore how can work together more closely in the year ahead.

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PLACE2BE

(A company limited by guarantee)

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 equality, diversity and inclusion are 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 EDI action plan are shared with our staff and published on our website. Our colleagues continue to drive forward this agenda, through our EDI Steering Group which meets every six weeks, with representation from colleagues across a range of roles and across the UK.

As an extension to our EDI Steering Group, we now have three colleague networks: our Plus group , for colleagues who identify as LGBTQIA+, as well as LGBTQIA+ allies, which helped with the planning and content of our Pride Month 2023 activities; a group to support colleagues who have hearing challenges; and our newest network is for ethnically diverse colleagues, called the Race Equality Forum. These groups have met to establish themselves and determine how they would like to work to support each other, as well as support the EDI Steering Group. We will also continue to invite our employees to consider if there should be additional support networks to give more focus to the other protected characteristics within EDI.

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 training providers to act as a practical guide for the creation of antioppressive training curricula.

We have completed a second round of our reciprocal mentoring programme, extending this to our wider Leadership Forum, with 16 colleagues involved in this round. We’ll be holding a closing session to gather feedback and aim to roll out a third programme later this year. 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 information. In addition, our Recruitment Applicant Tracking System anonymises gender, ethnicity and educational establishment, to remove any potential bias in the shortlisting process.

Employee 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. For employees not based in schools, we continue to operate a hybrid working model, aiming for an approximate 50/50 split between office and home working.

Following delivery of our mental health support programme for managers, we created an online version of the course materials so that these can be accessed any time, at their own pace. We have also offered managers who attended the sessions some follow-up reflective work with two of our trainers. This has been well received and we are examining the possibility of keeping this offer as an ongoing opportunity.

As a result of the responses to our staff pulse survey in autumn, we created more resources to support colleagues in balancing their workloads. These included a wellbeing toolkit and the creation of a wellbeing and workload task group. The group reviewed some of our processes to explore how to make them more streamlined and user-friendly. This has led to an improvement in data completion rates and much less dissatisfaction among staff in relation to administrative tasks. We have boosted the prominence of our range of staff benefits on our job pages, which includes additional wellbeing days and access to our free, confidential, employee assistance programme.

Investment in technology

Investment and delivery to plan continued in 2022/23 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 securely from home or school premises, in line with our hybrid model. In addition, we worked to ensure our systems are better integrated with each other as well as aligned to our business needs. We are grateful to the members of our Information Technology Advisory Group, chaired by our Trustee Aamir Ahmad, as it provides oversight and governance to the delivery of our IT Strategy. 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 years. The IT

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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 12 months include the adoption of a new budgeting system and further improvements in the way that our website integrates with our customer relationship management (CRM) system.

Responding to heightened IT security needs, we have also moved our clinical case management system and other key systems to cloud provisions. This has enabled us to continue to improve the security framework and our ability to report. At the organisational level we again obtained Cyber Essentials Plus accreditation and have been certified as ‘standards exceeded’ for the second year running for the DSPT data security framework. This is the NHS’s benchmark and allows us to continue to apply for Local Authority and Integrated Care Board tenders.

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 staff-led Environmental, Social and Governance (ESG) Steering Group oversees our organisation-wide commitment across these three areas, ensuring that we consider our impact on the climate, on society and each other in all the decisions we make.

The Group advises the Executive Team and Risk Committee in relation to Place2Be’s responsibilities for measuring sustainability and positive impact. It meets quarterly to keep this work on track. In the past year, we developed a new ESG Framework, which sets out our commitments under each of the three ESG ‘pillars’. This includes our environmental commitments, with our aim to reduce our carbon footprint, particularly through travel, reducing waste and energy, and sustainable procurement. It also incorporates the commitments within our Equality Diversity and Inclusion strategy; and sets out Place2Be’s robust governance structures. In 2022/23, we introduced clearer signposting to encourage more recycling in the office, and to reduce wastage piloted the use of re-usable branded coffee cups; and are commissioning a further ESOS audit to identify any further ways we can be more energy efficient.

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2023/24 Forward plan

In the financial year 2023/2024 we will continue to focus on the four priority areas outlined in our business strategy. This will continue to be a period of net investment in our capabilities, drawing on the funds secured for this purpose in prior years.

Our plans for the year ahead comprise:

1. Providing high quality mental health support in schools

2. Building confident skills and knowledge in schools

3. Building the child mental health workforce

4. Building understanding and influencing policy

In addition, to support the organisation, we will continue to invest in our systems and processes. There will be a continued focus on data security, particularly in response to the increasing threat of cyber criminals. Improving the integration of our systems will continue to be a priority, including building on the adoption of our new finance and budgeting systems, with improved business information. With the help of our donors, we intend to invest in a new operations dashboard and document management solution.

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PLACE2BE

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 with the charitable objectives unchanged.

As part of that 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:

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 Trustees receive regular updates. This ensures the purpose of the organisation is kept in focus and that our activities deliver the greatest impact for children and young people through the funds invested in us.

In summer 2023 we began the process to consider Place2Be’s next Five-Year Strategic Plan for the years 2025 – 2030. This will be an inclusive process which considers the views of all key stakeholders, schools, children and young people, but will be shaped and ultimately approved by Trustees in late 2023.

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 subcommittees and advisory groups which provide an opportunity to provide strategic leadership in more depth.

Trustees are involved in particular strategic actions with oversight through our regular sub-committees and advisory groups which meet at least once per quarter:

In addition, there are other sub-committees and advisory groups which meet as required in order to fulfill their functions, including:

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The CEO directs Place2Be’s activities, supported by the Executive team which meets informally weekly and more formally on a monthly basis.

Our staff and pay structures

During the year to March 2023 we had an average of 653 staff (461 FTE), compared to 550 (380 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:

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

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Section 2c: Income, Expenditure and Balance Sheet

Summary of Performance

Income for the year reached £25.0m (2021/22: £19.5m) and expenditure totaled £25.1m (2021/22: £20.7m). When including the loss in the revaluation of Angel Gate of £0.6m (2021/22: £0.1m gain) this resulted in an overall net reduction in funds of £0.7m. This took the total funds balance to £13.9m.

Income

In 2022/23 total income grew to £25.0m.

----- Start of picture text -----
TOTAL INCOME: 5 YEAR GROWTH
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----- Start of picture text -----
£25.0m
£23.2m
£19.3m £19.5m
£17.3m
2018/19 2019/20 2020/21 2021/22 2022/23
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The greatest proportion of income was generated by a strong performance in Voluntary Income of £12.4m (2021/22: £8.6m) and this accounts for 49% of total funds (2020/21: 42%). We secured investment to replenish our Development and Strategic Priorities Fund which will allow us to continue to build capacity and expand the impact of the charity in order to reach more children. Income from Schools of £9.1m (2020/21: £8.0m) increased over the year, reflecting the growing number of schools we work with, and service days delivered.

The delivery of our in-person training accelerated during the year resulting in an income of £1.2m (£0.7m 2021/22). An analysis of principal incoming resources is shown in notes 3 to 6 of the accounts and graphically below.

----- Start of picture text -----
TOTAL
INCOME
£25.0m
m
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Expenditure on Charitable Activities

Expenditure on Charitable Activities increased from prior year and totalled £23.6m (2021/22: £19.5m). This reflects the increase in activity across all streams and is represented in the figure below.

Balance Sheet

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

£000s 2022/23 2021/22 Notes
Fixed assets 5,737 6,754 The movement reflects depreciation charges in year and a
reduction in the value of our investment property at Angel
Gate.
Debtors 4,211 3,377 Debtors include £1m which is the second installment of
£2m pledged in the year by one of our long-term partners.
Cash at bank and in hand 6,493 6,802 Cash balances performed in line with forecasts.
Creditors – Amounts falling due
within one year		 (1,954) (1,691) Increase in trade creditors in line with growth of our
operations.
Creditors – Amounts falling due
after more than one year		 (568) (638) We continued to make capital repayments against our
mortgage on our investment property at Angel Gate.
Net Assets 13,919 14,604

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Reserves

Place2Be reserves, comprising restricted, designated, and unrestricted funds, are described and summarised in note 18 to the accounts. During the year there was a net reduction of £0.7m in group charitable funds bringing the total value of funds to £13.9m.

Unrestricted designated reserves include the Development and Strategic Priorities Fund which grew by £0.6m to £3.5m in the year. The purpose of this fund is to assist growth of the organisation’s future capability and to support the delivery of the business plan with investment into infrastructure, equipment and systems. Place2Be utilised £1.4m of this fund during the year and replenished with £2.0m in the year.

The Property Fund of approximately £4.4m represents the amount of Place2Be’s own funds that are invested in property assets.

Restricted funds have increased by £1.3m and at year end totalled £2.8m.

Unrestricted Charitable Funds comprise all reserves except restricted reserves. These total £11.1m at 31 March 2023 and represent the reserves available to the charity as its core capital. The Finance & Audit Committee monitor the level of reserves in the context of Place2Be’s business and risks and

Place2Be looks to maintain at least three months’ worth of core operating expenditure as free reserves. Place2Be defines free reserves as its Development and Strategic Priorities Fund plus unrestricted reserves. At 31 March 2023, Unrestricted Charitable Funds are approximately comparable to three months’ worth of core operating costs and the Trustees view this to be adequate.

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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 with the next planned for the end of 2023.

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 training. Our fundraising portfolio is under constant review and focuses on prioritising multi-year grants as well as 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.

In 2023 we implemented a new budgeting system to improve our management and reporting of performance.

Counsellors on Placement

One area of primary risk is our reliance on Counsellors on Placement who as part of their training provide our one-to-one support. The risk is associated with sourcing, selecting, training and retaining sufficient Counsellors on Placement to deliver the service. The quality of Place2Be’s own training offer and supervision structure ensures that there is mutual benefit to both the Charity and the Counsellor on Placement. We build relationships with academic institutions that provide training in counselling to make sure that the opportunity we offer is made available to trainees in geographical areas where we have a need. We work closely with the British Association of Counselling and Psychotherapy (BACP) and the UK Council for Psychotherapy (UKCP) to make sure that our placement programmes and training are relevant and valued by the profession. 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 there remains the need for Place2Be to continually evolve. In addition, there is an ever-changing landscape with providers of online services, private as well as public sector, now providing 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 almost 30 years; continue to embrace technology; strong

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partnerships and relationships with commissioners and schools. Tenders from Integrated Care Boards and Multi-Academy Trusts often have short response times and often have TUPE implications so Place2Be must continue to be responsive and flexible in its approach. The training environment is more competitive than ever before. Fifteen years ago, we were the only provider of a counselling qualification specifically aimed at working with children; now there are in the region of 20 other providers nationally providing children and young people focused programmes.

Data security

The number of hacking and ransomware attacks perpetrated by cyber criminals on institutions continues to increase. 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. We are implementing a five-year IT and data strategic plan which will improve system interoperability and security, but the risk of cyberattacks will continue to remain high. We perform regular security testing of our main systems as well as staff training to mitigate against the inherent risks. Data security risk and practical measures are considered by the Risk Committee and the Information Technology Advisory Group, which reports into 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.

Every two years, we carry out 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:

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.

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 f ~~or T~~ rustees 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

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undertake an induction programme including a school visit, meetings with the CEO and senior management, and attendance at events.

Equality, Diversity and Inclusion

The organisation is committed to increasing the diversity and inclusion of Trustees, employees, trainees and counsellors on placement. 29% of our trustees and 22% of our workforce are from diverse backgrounds; 7.5% of our workforce identify as LGBTQIA+ and 22% of our counsellors are from diverse groups, which we now track, as part of our recruitment and social mobility data.

Place2Be founded and 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. The coalition has commissioned the development of a toolkit for psychological therapies to provide support on three areas of course provision: the institution, the training programme, and the individual tutor, and the toolkit is titled “Race is complicated” and is due to be launched in October 2023. Our internal diversity and inclusion staff steering group meets very six weeks to ensure we listen to and incorporate the views and lived experience of all colleagues across Place2Be. We now have three support networks: Plus group for LGBTQIA+ colleagues, Hearing Loss and Race Equality Forum, which all feed into the main steering group. Our staff survey shows that an increasing proportion of employees feel that Place2Be treat all employees fairly, we have seen a year-on-year consecutive increase in trend with a 2.8% increase from 2022 and a 7.1% increase from 2021.

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 report our gender pay gap statistics annually. The most recent report reported that the mean gender pay gap at Place2Be had closed from 11.7% on 5 April 2021 to 9.9% on 5 April 2022 although the median or ‘middle’ employee gender gap increased from 0.0% to 7.9%. Since the number of male employees is relatively low (11%) some small movements in that population can have a large impact on the figures There are nine more male staff in 2022 compared with 2021 and the middle male employee is now a trainer in our Mental Health Workforce team which commands a relatively high hourly rate.

Some support teams experiencing growth (such as IT, Fundraising and Communications) have recruited a higher-than-average number of males (higher than the 11% average across the organisation) and this has been a factor in moving the median male employee away from a school-based role to an office based one.

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 2022 indicate that the mean ethnicity pay gap has reduced from 1.9% to 1.7% over the previous twelve months. The median gap is zero indicating that there is no gap for the ‘middle’ employee. We acknowledge 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’ but we are pleased to report that the percentage of staff for which we have no data reduced from 8.4% in April 2021 to 0% in April 2022.

We are implementing several 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 bias in the hiring process.

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

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quickly and fully to any queries about our work whilst maintaining strict client confidentiality. We are proactive in seeking feedback from stakeholders; and our disclosure policy which encourages 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 can consider matters on the agenda and, where appropriate, consult externally. The Board maintains an up-to-date Contractual & Financial Delegation and Sign Off Policy to ensure that Trustees retain control of the charity while enabling the Executive to deal with the day-to-day running of the charity in a timely way.

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

Fundraising code of practice

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

Fundraising activities are not outsourced to professional fundraisers or commercial participants. 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 during 2022/2023 when we have been in breach of the Fundraising Code of Practice.

Environmental, Social and Governance framework

The Charity takes seriously its responsibilities within all aspects of Environmental, Social and Governance. Our ESG Group meets quarterly and contains members of the executive team and staff members who attend on a voluntary basis. The Group approved our ESG Framework but the ownership of the 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 and we aim to operate sustainably and ethically across all aspects of our work.

Place2Be applies ethical standards to suppliers it works with, and its Procurement Policy contains ethical guidelines. Our Fundraising and Partnership policies also contain ethical standards so that we support and encourage others to make positive changes. Place2Be is committed to publishing its performance in matters of ESG.

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).

Our environmental commitments are contained within our Green Charter. In line with the Charter, we are committed to reducing our carbon footprint, in three key areas:

Minimising harmful emissions through travel

We are 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. Performance against this is on track with metrics at 31[st] March 2023 showing a 14% reduction against the 2019 baseline. We try to influence this metric by encouraging:

Reducing waste which we influence by:

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Reducing office energy use and CO2 emissions where possible

We are monitoring our energy usage at Head Office with a view to reducing kilowatt per hour usage per capita by 10% in the year to March 2025 against a March 2019 baseline. Performance against this is on track with metrics at 31[st] March 2023 showing a 10% reduction against the 2019 baseline.

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:

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 interest-bearing deposits with financial institutions with a strong credit rating.

The Trustees consider the performance of its cash and investments was adequate during the year.

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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.

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. We have a forum for office-based teams, and one for school-based teams which continues to provide input into operational and strategic issues in addition to items raised by employees. In addition, we have active employee voice channels. We conduct regular employee pulse surveys which include questions on how staff feel that we are performing against our Wellbeing, and 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 an EDI 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.

7.8% 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 61 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 we believe only two were linked to a disability.

Place2Be has policies relating to employee welfare and support including:

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

We have two Learning & Development Advisers dedicated to supporting employee engagement, learning and development 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.

We continue to prioritise the well-being of our staff team, by providing a 24-hour, seven-day-a-week Employee Assistance Programme (EAP) service. We also offer staff two wellbeing training days. In addition, we run a reciprocal mentoring programme, which has been well received by staff, along with mentoring and buddying schemes across all teams.

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We encourage our staff to be actively involved in projects through working groups. For example, our digital champion working group serves as a channel for staff to contribute and influence our digital and communications strategy.

We strengthened our discussion on inclusion through a series of workshops entitled Include me at work, supported by corporate partners PwC. Feedback from the sessions was positive: 75% of participants agreed and 12% strongly agreed that their understanding of how to be more inclusive to others had increased. To date, 167 employees have completed session one, and 150 have completed session two. We also have a further two sessions of each planned for the year ahead.

We continue to encourage our workforce to grow into leadership roles and in this financial year we have supported the following apprenticeships: Level 3 Data Technician (1), Level 3 Team Leader (11), Level 4 Business Analyst (2), Level 4 Data Analytics (4), Level 4 Associate Project Management (5), Level 5 Coaching (5), Level 5 Learning and Development Business Partner (1), Level 5 Management (3), Level 6 Digital and Technology Solutions (1) and Level 7 Senior Leader (8).

We have developed an EDI leadership bursary fund, which is ringfenced for five 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 to enable them to study for a leadership programme.

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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:

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.

As 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 18[th] September 2023, 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 18[th] September 2023

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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:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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

Other information

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

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

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

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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 29

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 and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 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.

Jayne Rowe Senior Statutory Auditor

For and on behalf of Crowe U.K. LLP Statutory Auditor

Page 30

PLACE2BE

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
4
Charitable activities
5
Trading income
7
Other income
6
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
(Losses)/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		 Unrestricted
funds
2023
£000
7,970
10,183
10
229
18,392
1,501
18,315
19,816
(1,424)
(607)
(2,031)
13,113
(2,031)
11,082		 Restricted
funds
2023
£000
4,437
2,172
-
-
6,609
20
5,243
5,263
1,346
-
1,346
1,491
1,346
2,837		 Total
funds
2023
£000
12,407
12,355
10
229
25,001
1,521
23,558
25,079
(78)
(607)
(685)
14,604
(685)
13,919		 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

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 37 to 58 form part of these financial statements.

Page 31

PLACE2BE (A company limited by guarantee) REGISTERED NUMBER: 02876150

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
12
Investments
14
Investment property
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
17
Total net assets
Charity funds
Restricted funds
18
Total restricted funds
18
Unrestricted funds
18
Total funds		 4,211
6,493
10,704
(1,954)
2,837		 2023
£000
1,686
1
4,050
5,737
8,750
14,487
(568)
13,919
2,837
11,082
13,919		 3,377
6,802
10,179
(1,691)
1,491		 2022
£000
2,096
1
4,657
6,754
8,488
15,242
(638)
14,604
1,491
13,113
14,604

Page 32

PLACE2BE

(A company limited by guarantee) REGISTERED NUMBER: 02876150

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

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

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

................................................ ................................................ Simon Mackenzie Smith Catherine Roche Chair of Trustees Chief Executive Date:

The notes on pages 37 to 58 form part of these financial statements.

Page 33

PLACE2BE (A company limited by guarantee) REGISTERED NUMBER: 02876150

CHARITY BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
12
Investments
14
Investment property
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
17
Total net assets
Charity funds
Restricted funds
18
Total restricted funds
18
Unrestricted funds
18
Total funds		 4,233
6,460
10,693
(1,944)
2,817		 2023
£000
1,686
2
4,050
5,738
8,749
14,487
(568)
13,919
2,817
11,102
13,919		 3,389
6,768
10,157
(1,670)
1,491		 2022
£000
2,096
2
4,657
6,755
8,487
15,242
(638)
14,604
1,491
13,113
14,604

Page 34

PLACE2BE

(A company limited by guarantee) REGISTERED NUMBER: 02876150

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

The charity's net movement in funds for the year was £(685)k (2022 - £(1,125)k ).

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

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

................................................ ................................................ Simon Mackenzie Smith Catherine Roche Chair of Trustees Chief Executive Date:

The notes on pages 37 to 58 form part of these financial statements.

Page 35

PLACE2BE

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£000
25
(266)
(266)
(68)
(68)
(309)
6,802
6,493		 2022
£000
1,157
(112)
(112)
(44)
(44)
1,001
5,801
6,802

The notes on pages 37 to 58 form part of these financial statements

Page 36

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 undertaking. 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 37

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 the end of the following March so as to be consistent with the Place2Be financial year end. However, in some instances invoices are raised in September and cover the school year to the end of the following 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 the related 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 other 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 38

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.6 Corporation tax and taxation

Income tax expense represents the tax currently payable on any taxable profit for the year. Taxable profit only arises from any 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 realised, 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"). An independent valuation of the property at Angel Gate has been carried out at 31 March 2023 by Foxglove Property Consultants Ltd.

2.10 Financial instruments

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

At the balance sheet date the Group held financial assets at amortised cost of £8,663k (2022: £7,862k). Financial assets at fair value through income or expenditure of £nil (2022: £nil) and financial liabilities at amortised cost of £1,954k (2022: £1,619k).

Page 39

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 ongoing 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 £506k for the year (2022: £292k), representing gifts in kind, primarily in respect of legal and professional services estimated by the providers at £429 k (2022: £170k). This income and corresponding expenditure is included in the accounts under appropriate headings and contained within the analysis reported in notes 4-10.

Page 40

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Income from donations and legacies

Companies and corporate trusts
Other trusts and charities
Corporate gifts in kind
Government grants
Private donations and events		 Unrestricted
funds
2023
£000
1,741
3,823
506
-
1,900
7,970		 Restricted
funds
2023
£000
885
2,091
-
-
1,461
4,437		 Total
funds
2023
£000
2,626
5,914
506
-
3,361
12,407		 Total
funds
2022
£000
3,017
2,851
292
8
2,392
8,560

5. Activities in Futherance of Charity Objectives

Schools
Government and Clinical Commissioning
Groups
Training		 Unrestricted
funds
2023
£000
9,067
(2)
1,118
10,183		 Restricted
funds
2023
£000
5
2,071
96
2,172		 Total
funds
2023
£000
9,072
2,069
1,214
12,355		 Total
funds
2022
£000
7,966
2,046
738
10,750

Page 41

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Other income

Rental income
Insurance income
Other income		 Unrestricted
funds
2023
£000
172
-
57
229		 Total
funds
2023
£000
172
-
57
229		 Total
funds
2022
£000
119
10
26
155

7. Income from other trading activities Income from non charitable trading activities

Companies and corporate trusts
8.
Cost of generating funds		 Unrestricted
funds
2023
£000
10		 Total
funds
2023
£000
10		 Total
funds
2022
£000
20
Staffing costs
Advisors and consultants
Event costs
Other
Total 2023
Total 2022		 Unrestricted
funds
2023
£000
1,128
61
170
142
1,501
1,195		 Restricted
funds
2023
£000
-
-
-
20
20
14		 Total
funds
2023
£000
1,128
61
170
162
1,521
1,209		 Total
funds
2022
£000
940
41
79
149
1,209

Page 42

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Charitable activities

Direct costs
Central costs
Total 2023
Total 2022		 Mental
health
services &
support
2023
£000
14,408
5,652
20,060
16,759		 Learning &
development
2023
£000
1,599
609
2,208
1,827		 Raising
awareness &
promoting
understanding
2023
£000
954
336
1,290
924		 Total
funds
2023
£000
16,961
6,597
23,558
19,510		 Total
funds
2022
£000
13,276
6,234
19,510

10. Auditor's remuneration

2023 2022
£000 £000
Fees payable to the charity's auditor in respect of:
Auditor's remuneration - audit 27 28
Auditor's remuneration - other services 7 8

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2023
£000
17,054
1,623
809
19,486		 Group
2022
£000
13,624
1,233
649
15,506		 Company
2023
£000
17,054
1,623
809
19,486		 Company
2022
£000
13,624
1,233
649
15,506

Included in the above are redundancy and termination costs in the year to 31 March 2023 of £13k relating to 5 members of staff (2022: £62k and 23 members of staff). All costs were paid in the year.

Page 43

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. Staff costs (continued)

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
2023
No.
562
26
65
653		 Group
2022
No.
473
23
54
550

The average headcount expressed as full-time equivalents was:

Operations, Training and Research
Fundraising
Support (including HR, Finance and IT)		 Group
2023
No.
374
25
62
461		 Group
2022
No.
307
22
51
380

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

Group Group
2023 2022
No. No.
In the band £60,001 - £70,000 6 4
In the band £70,001 - £80,000 1 4
In the band £80,001 - £90,000 2 1
In the band £90,001 - £100,000 4 1
In the band £100,001 - £110,000 - 1
In the band £110,001 - £120,000 1 -

Pension costs associated with those staff in the higher income bands totalled £56k (2022: £41k).

Page 44

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11 Staff costs (continued) 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:

2023 2022
£000 £000
Trustees - -
Executive team 849 744

£355.49 of travel costs were reimbursed to Trustees during the year (2022: £642.16 of expenses were reimbursed to Trustees).

12. Tangible fixed assets Group and Company

Cost or valuation
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Long
leasehold
Land &
Buildings
£000
2,689
-
2,689
1,076
302
1,378
1,311
1,613		 Computers
and Other
assets
£000
1,463
266
1,729
980
374
1,354
375
483		 Total
£000
4,152
266
4,418
2,056
676
2,732
1,686
2,096

All fixed assets are used for direct charitable purposes.

Page 45

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Investment property

Group and charity

Valuation
At 1 April 2022
Loss on revaluation
At 31 March 2023		 Angel Gate
£000
4,657
(607)
4,050

The 2023 valuation of the Angel Gate property was made on a fair value basis by Foxglove Property Consultants Ltd.

The property has been treated as an investment property since 2018 on the basis that the property was no longer being used for operational purposes by the charity.

14. Fixed asset investments

Group
Cost or valuation
At 1 April 2022
At 31 March 2023		 Unlisted
investments
£000
1
1
charity
Cost or valuation
At 1 April 2022
At 31 March 2023		 Investments
in
subsidiary
companies
£000
1
1		 Unlisted
investments
£000
1
1		 Total
£000
2
2

Page 46

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Debtors

Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2023
£000
1,065
-
16
3,130
4,211		 Group
2022
£000
775
-
13
2,589
3,377		 Company
2023
£000
1,065
22
16
3,130
4,233		 Company
2022
£000
775
11
13
2,590
3,389

Included within debtors is £1.304m (2022: £1.684m) representing prepaid rent on 175 St. John Street.

16. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2023
£000
70
175
466
218
1,025
1,954		 Group
2022
£000
68
185
389
145
904
1,691		 Company
2023
£000
70
175
466
218
1,015
1,944		 Company
2022
£000
68
182
387
145
888
1,670

Deferred income analysis:

Deferred income relates to school services and training and comprises services invoiced in advance of services rendered.

School service funders
Training
Total 2023
Total 2022		 B/f
£000
217
104
321
400		 Released in
the year
£000
12,881
885
13,766
(10,756)		 Deferred in
the year
£000
(12,672)
(760)
(13,432)
10,677		 Total
funds
£000
426
229
655
321		 Total
funds
2022
£000
217
104
321

Page 47

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Bank loans Group
2023
£000
568
568		 Group
2022
£000
638
638		 Company
2023
£000
568
568		 Company
2022
£000
638
638

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		 2023
£000
70
376
192
638		 2022
£000
68
366
271
705

Page 48

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds

Statement of funds - current year

Balance at 1
April 2022
£000
Designated funds
Property
5,225
Development and Strategic
2,824
Future Awards Ceremonies
59
8,108
General funds
5,005
Unrestricted funds
13,113
Restricted funds
City Bridge Trust
-
Voluntary Income & School
Service
499
Other restricted funds
65
Taylor Family Foundation
-
Banbury Project
24
Moondance
161
Beaverbrook Foundation
31
Nominet
20
Euromonitor
50
Four Acre Trust
61
Tim Robinson
34
Fidelity Grant
45
Prudence Trust
152
Lord Mayors Appeal
50
Juliet Garmoyle
155
Prudence CMHW Fund
-
Morgan Stanley
144
Art Room
-
Deloitte
-
Volant charitable trust
-		 Income
£000
-
2,000
-
2,000
16,392
18,392
122
4,648
-
24
118
-
-
40
50
88
63
428
152
70
184
31
184
100
82
25		 Expenditure
£000
(180)
(1,371)
(59)
(1,610)
(18,206)
(19,816)
(67)
(3,632)
(57)
-
(96)
(102)
(31)
(20)
(50)
(128)
(49)
(209)
(146)
(120)
(54)
(21)
(250)
(95)
(82)
(25)		 Gains/
(Losses)
£000
(607)
-
-
(607)
-
(607)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2023
£000
4,438
3,453
-
7,891
3,191
11,082
55
1,515
8
24
46
59
-
40
50
21
48
264
158
-
285
10
78
5
-
-

Page 49

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds (continued)

Statement of funds - current year (continued)

Balance at 1
April 2022
£000
Marginal Impact Fund
-
1,491
Total funds
14,604
Statement of funds - prior year
Balance at
1 April 2021
£000
Designated funds
Property
5,545
Development and Strategic
4,491
Future Awards Ceremonies
59
10,095
General funds
4,711
Unrestricted funds
14,806		 Income
£000
200
6,609
25,001
Income
£000
-
-
-
-
14,227
14,227		 Expenditure
£000
(29)
(5,263)
(25,079)
Expenditure
£000
(405)
(1,667)
-
(2,072)
(13,933)
(16,005)		 Gains/
(Losses)
£000
-
-
(607)
Gains/
(Losses)
£000
85
-
-
85
-
85		 Balance at
31 March
2023
£000
171
2,837
13,919
Balance at
31 March
2022
£000
5,225
2,824
59
Designated funds
Property
Development and Strategic
Future Awards Ceremonies
General funds
Unrestricted funds
8,108
5,005
13,113

Page 50

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds (continued)

Restricted funds
Restricted Funds - all funds
Voluntary Income & School
Service
Other restricted funds
Taylor Family Foundation
Banbury Project
Moondance
Beaverbrook Foundation
Nominet
Euromonitor
Four Acre Trust
Tim Robinson
Fidelity Grant
Prudence Trust
Lord Mayors Appeal
Juliet Garmoyle
Prudence CMHW Fund
Morgan Stanley
Art Room
Deloitte
Volant charitable trust
Marginal Impact Fund
Total funds		 -
326
28
40
10
-
35
-
-
-
15
-
66
301
-
-
76
50
-
-
-
947
15,753		 65
3,188
25
-
68
161
25
20
50
99
63
124
132
306
155
152
253
3
76
212
81
5,258
19,485		 -
(3,015)
(53)
(40)
(54)
-
(29)
-
-
(38)
(44)
(79)
(198)
(557)
-
-
(185)
(53)
(76)
(212)
(81)
(4,714)
(20,719)		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
85		 65
499
-
-
24
161
31
20
50
61
34
45
-
50
155
152
144
-
-
-
-
1,491
14,604

Page 51

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds - (continued)

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

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 Place2BeAwards Ceremony events.

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

VoluntaryIncome & School Service This represents funds donated by charitable
trusts to support our work in specific
schools or geographic areas.
Other Restricted Funds This represents funds donated by charitable
trusts to support our work in specific
schools or geographic areas.
Taylor FamilyFoundation Funding towards the delivery of the Journey of
Hope therapeutic group work programme for
Mertonprimaryschools
BanburyProject Fund to support in school services in Banbury.
Moondance Represents funding to support an 18 month
project to create a sustainable, future-proofed
whole school mental health service in Wales
Beaverbrook Foundation Funding towards Children’s Mental Health
Week and other marketing,communications
costs to raise awareness of children’s mental
health
Nominet Represents funding to develop and enhance the
Parenting Smart site which provides
resources and support for parents on a wide
range of topics

Page 52

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds - (continued)

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
Tim Robinson Funding for a longitudinal research study, to
explore the long-term impact of one-to-one
school based counselling, in conjunction with
funding from City Bridge Trust
Fidelity Fund to support expansion of Place2Be’s mental
health services in a fifth operational
region(Midlands and Wales)
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.
Lord Mayors Appeal Represents funding to support Place2Think
sessions for London teachers and to
fund digital training for Counsellors on
Placement
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.
Prudence CMHW Fund Fund towards Children’s Mental Health Week
costs
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.
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.
Deloitte Funding towards London and Birmingham
operational areas
Volant Charitable Trust Fundingof in school services in Scotland
Marginal Impact Fund Funding to increase provision in existing
Place2Be partner schools and onboard new
Place2Be Partner schools
CityBridge Trust Funding for a longitudinal research study, to
explore the long-term impact of one-to-one
school based counselling, in conjunction with
funding from Tim Robinson

Page 53

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total
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		 Unrestricte
d funds
2023
£000
1,686
1
4,050
7,867
(1,954)
(568)
11,082
Unrestricted
funds
2022
£000
2,096
1
4,657
8,688
(1,691)
(638)
13,113		 Restricted
funds
2023
£000
-
-
-
2,837
-
-
2,837
Restricted
funds
2022
£000
-
-
-
1,491
-
-
1,491		 Total
funds
2023
£000
1,686
1
4,050
10,704
(1,954)
(568)
13,919
Total
funds
2022
£000
2,096
1
4,657
10,179
(1,691)
(638)
14,604

Page 54

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 Group
2023
£000
(78)
676
(834)
261
25		 Group
2022
£000
(1,234)
701
1,819
(129)
1,157

21. Analysis of cash and cash equivalents

Group Group
2023 2022
£000 £000
Cash in hand 6,493 6,802

22. 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
2022
£000
6,802
(68)
(638)
6,096		 Cash flows
£000
(309)
(2)
70
(241)		 At 31 March
2023
£000
6,493
(70)
(568)
5,855

Page 55

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23. Obligations under operating leases

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

The Group and the charity had no commitments under non-cancellable operating leases at 31 March 2023.

The following lease payments have been recognised as an expense in the Statement of financial activities:

Group Group Company Company
2023 2022 2023 2022
£000 £000 £000 £000
Lease payments 384 384 384 384

24. Related party transactions

During the year ended 31 March 2023 the charity received £318k (2022: £458k) by way of donations and gifts in kind from related parties.

25. Donations from Trustees

Donations from Trustees during the year ended 31 March 2023 amounted to £95,047 from 8 Trustees (2022: £13,895 from 4 Trustees).

Page 56

(A company limited by guarantee)

PLACE2BE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

26. Comparative Statement of Financial Activities

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
Other recognised gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
2022
2022
2022
2021
£000
£000
£000
£000
5,348
3,212
8,560
9,175
8,704
2,046
10,750
10,126
20
0
20
0
0
0
0
4
155
0
155
0
14,227
5,258
19,485
19,305
1,195
14
1,209
876
14,810
4,700
19,510
18,089
16,005
4,714
20,719
18,965
(1,778)
544
(1,234)
340
85
85
110
(1,693)
544
(1,149)
450
14,806
947
15,753
15,303
(1,693)
544
(1,149)
450
13,113
1,491
14,604
15,753

27. Principal subsidiaries

The following was a subsidiary undertaking of the charity:

Name Company Principal activity Class of Holding
number shares
-%
Place2Be Trading Ltd 12269387 Non-trading Ordinary 100%

Page 57

PLACE2BE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

27. Principal subsidiaries (continued)

The financial results of the subsidiaries for the year were:

Names Income Expenditure Net assets
£000 £000 £000
Place2Be Trading Ltd 10 (10) 1

Page 58