Charlty rngl8tratlon numbor 10453J4 (England and Wal981 Company roglstratlon numbgr 02814950 WORKSOP AND RETFORD HOUSING PROJECT UMITED NEW ROOTS HOUSING PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT LEGALAND ADMINISTRATIVE INFORMATION Op•ratlng Name New Roots Housing Proj• ompany numb•r 02814950 Chdrlty numlM>T 1045334 R•gl8tered offk¢ 2 Overerhd Road Worksop Nottinghamshlre S80 1QF Chalr SknBrt Manag•mont Commlttw (Dlr•¢tov¥ And Tr1$) J Grllllth$ R Hc&8on S (Chair) J Barton (Treasurer) P Dickinson (Mcé Ch8lT) Senlor staff Senlor Project Manager Buslnes$ Coordinator Social Core Manag&r l Barley V Baker4haw Audltor Rogers Spencer New5tead House Pelham Road Nottinghwn NG5 1AP Bankgr¥ Natsvest 69 BTidg8 Street rksop S80 1DJ
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT CONTENTS Pag¢ Trustsos rèport Statement of Trustee8 SponSIbl11.8s 10 Ind•pend8nt auditols report Ststemenl of finBncial actimtteg 15-18 Balance 8hoet 17 statement 0fh flwJ 18 Nok¥ to the financial statements 19-30
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The managemont commttt8e (who arn ako directors frir the purposes of ¢ompany law) or plgase FTrs8nt the annual Rport for the financial y8ar endiw the 31st of March 2024. The financial statements have been prepared in accordance with the accounting PDlicies sfjt wt in note 2 to th& financial statements and comply wth tho charivs governlng document, the Compani95 Acl 2(K6 and "Accounting and Reporting by Charitre5'. Statement of Recommended Practr'oe opplicable to charithes pr•partng their accounts in accordance with the FinBncial R•portlng St8rKlard 8pplicabL9 in th8 UK and R8public of Irgland {FRS 102) (effectlve l January 2019)" ObJoctlvèJJ and a¢tlvlth• Thls report higNights cur achigvgmonts. finandal rf0M19nce and strategic InativeS undertaken durlng the pasl year.11 h05 been a year of growth, challenges, and $lgrdfi¢anl Impa¢t In our mission to: "oll•rwe¢lalistsupport and ac¢ommodatlon to hom•l••¥ young p•opl• wlth ¢arn •xperfeneo or those at rl•k ol•nt•rlng th• care 8ystem' New Roots 1$ a voluntary Sector organi5ation Ihat Offe a hlgh standard ol acccfffimouation and sUPlXlrt to homeless young 0P1a wrfih care exporlence or those at rfsk of ent¢ring the ¢&ro system in Bgsgeuaw and the svTrounding areas. The organisalion is a company limited by gu8r8ntee. 11 was estsblished as a company in 1993 and ragistered a$ o charity in 1995 and since that ttme has devebFed a long arKI impressive track record lor doliv81¥j high quallty. niche services. New Roots has benefited from effe¢tive strategic management that has enabled the organi5alion to 8th0r changes in the so¢ial. polltical and o¢onomic enVir(ment challenges Includlng the Increasing pressures felt as re8uII of th8 so call '$t of living ¢fiSiS' that has led to growing levels of bolh absolutslrelative P0rtY and continued reduction in public service8,' exacerbatlng the pressures felt by homeles8 and 'care èxporiencetr young people, in partlcular In relatlon to PQOf m•nlal haalth. Sound financial management and plannlThJ ha8 SUPPOrted ¢ontinued devèlopment and expanslon of both our property portfolio and the range and depth of services and support, we are able to prode young peoplo. ljelleve, are the local market leader (the proder of choke) In the provlslon ol accornmodation and bespd(e support for young p80ple with high levels of cornpkx need. Core SeThlc•8 Our core sepilces have remalned conslslent. Over the last year we hav¢ worked wlth over 99 GhildTrn and young peoF4e au0¥5 4 key servioe areos that provvje PlFIC tenefft Supported A¢commod•tlon A mixed model of accommodation and Support for young peopl8 16-25year5, wlth support levels that step up and down accordlng to nÈèd. Provkling a 5eanqess pumey. Purd*sed in bloth by Nottinghamshir& County Coun¢il. Young Parents 8upport•d A¢¢ommodatlDn A mixed model of gccornmodation and supporL wlth support levels that slep up and down acLxirdin9 to need. Provlding a sèamless journey. Purchased in blo¢k by N0tNTuhaM5hi County coun1. Speclallsed Support Ser¥lcè& A range ol specialist accommotlation with varying support optlons for ytsung Feoplelp8rents. Normalty ¢)tsr¢d through DPS {Dynamic Purchasing Sy8tsmsl andlor fvnded through charitable grant incom?. Outrea¢h Support Floallng Support off8Ted as a final slep in a young personlparent'¥ jOUTfEy, 5UPPOrting thwn to settle in new communities and establish thair hom•. Ra$ponding to ¢ri51S ond 5Pgcific negdB.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Und8 inni roach Our approach to wothiTrJ vath young peIe1parents (YPPI is informed by our und9rstandiTrJ of trauma and the impa¢t of adverse chifdhood &xpewce$. view tehavlDW as expr85sion of need and sepk to understand tbat has happened to a YPP. Our support is strength bad. needs IBd and person orknd. This means we work each person and explore wth them, their exp9rlens. red. fa, hopes and wisls - buikling trustsd relalionships to enable YPP to feel safe and secuft enough to be twen and honest We work ether with YPP to coproduce supp)rt plans and manogg ris YPP have been invdvgd in offendirwj behaviourlcounty lines ICSE IdLxnestic abuse etc. and as such are at risk of ha from ojhers. Other YPP are rncfe a harm to themselves e.g. with suicTrJe ideation, self-harning and other risk-taklng bahavlour. Many YPP have high levels of mb5tru5t DI prof8ssionals, with history of ab[e and rglert and raiactltsn from parents: excI18d and evicted from seThices. walk aktngside YPP throughout their joumey - using elastic tolerance to wovk through challerfjes. demonstraling our care for the YPP and our commltmentto them. Our team.. . burfd posltive. productive assertive relationshl)s with YPP dvocats on behalf of and prloriti$8 thg n9ed5 and safety ol chlldron arKI young people are tenactous, comFetent and knowledgeabl& They are not afrahy to have difficuk convors8tions work nolUdgM&ntsllY and are aw8Te of potentlal blas are professlonal and communlc4te clearly with all invo0d ggnuinfrly care for YPP and go abovg and beyond, Oporntlng Contsxt Youth Homelessness is expected to contiwe trJ increase as a rèsult of reduction In put4lc spen¢thng, previous welfare réfom?s and the growng impact of current 'cost of living crisis,. W)ere Ihere is no ststutory duty, the Fncreasèd p$$ fot throughput and comFlellon of supp)rt for YP reachlng 18 years who are not rèady lo move Ido not haNE the emotional and practical skils) vil add to the youth hom618ss burdan. 11 is Increasingly rets)gnised that many people who are et rigk of or are experienrin9 long tsm homelessness have a high number of ACES (Adverse Chldhood Exrerlences). Evidence shows children who experlence stressful and poor-qualty chlldhoods are more IelY to develop hea1th-haing and antisocial behaOurs. more likety to perfom) pooriy in sGhool, more lknty to be invofved In ¢rine and tirnatelY less IA(ely to be a prod11 member ol society. Tr8uma is wevalent In the narrative of many young people's pathway to homelessness. Resèarch has shown that people who are homeless are likely to have e[I8nc8d some fomi of trauma. Young supported by New Roots in 2023r24 ¢arne homeless due to.. being °looked after or experience of 'beiny in care. childh(XKI atKJse. crimlnal bahaviour andlor chd sexual or criminal axploitation donwtic abuse andlor family breakd(hvn referred with emolK>nallmental health Issues {depreIDn, anxiety. histories of self-hami and suicidal ideatlon. Inabdity to regulate emotions) aggressive aThJ virAent behal0r to staff in. residential andlor other supported acCnmodats0n being young parents with chadren under 5. Many lacking parental iole modevs incroa5ing knifg crimo and young PgQF49 carrying weapons POOF rnental health of young pgople h8s b68n d8scribe(l a¥ a nab'onal epidemio $99 a mwrtal health C18 amongst the young PE8 we support. levèl and completh ol the mentd health challeNJ&s èxperienced by young petsplo are unprèeédgntsd. Suicide attempts and id&ats"on are prevdlent. struggles with gender sdf- idèntity are rn0 common- with tmpacts such 8$ selftsrm and high knls of anxiety. volallity and aggresstcffi. putting Ih6m$efves and others at rlsk. A0$8 to Services is ofton denied a5 their experlence does not fil currort definitions or meet increa$ingty high thresholds.
WORKSOPAND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dfrmand for all servlc48 contlnually exceed$ ty far what the organi$8tion ¢an provKle. despite increasing levols of posilive throughput Number5 of referrals through targeted support remaln ¢onsistsnl. The rfgldity of the contract Model has reduc•d our abilty. tc utili88 accommodation r8sour¢A$ as •ffectively as we h8vo prfjvp)usly don•. The Inablllty io match the need5 of youw people to vacant spaces. has often led to a dlspartty befvveen demand and aveilabdity. Attwnpting to address this, the new accommodatron roc•ntty developed by New Roots, provides the opportunity to better match and réspond to Incroaslng need. OnlIng ts project lo offer addltional servicea such a¥.. teenage parent asse$$ments and spot purchase options for yourKJ pe¢plo requlring speciali5ed 8UPPOrt packages demand for these types of servlce8 remaln hlgh. In addition. there are ongoing disparities btheen th8 eaclIOnS of of5tsd and our contra¢tual obligation8 With NCC. Who u•od and boneflt¢d trom our ••Tvl¢•8? Our alms and fiJnding limit Ihe services we provlde to those betsveen the a9es of 16 and 25 land iheir children) who V•ryll benefft from support•d a¢Mmmodation or support to remaln In accommodatlon in Bassellaw. Many of our beneficiarles are eare expofn¢•d young people. looked after children, children subject to chlkl protection plans. teenage parents, young offendeTS and those Wt dsk of becomlng 'looked aftert by Nottlwhamshire County Council or any other'purchaslng. loeal authorlty- In the period April 2023 to March 2024, we delivered servlces to 99 children and young people lthb include¥ the number of serv1¢¢ LF$erB oh the 1st April 2023 plu$ the new startevs throughout the ye8rl, The nurnber of 3tsrte during the period w89 33. Allo¢ions ¢ontinue to be made through the Famity servi SuFVOrtod A¢¢omrnodation Panel ISAPI. Priorlty continues to bo glv8n to young people to whom a statutory duty Is ¢)wed. 81% of the referrals we ammodat•d were in ¢are, looked after or subject to Social care inteNenlion. Majorty referred wlth emolonavmerbtal health issue5 such as depression. anxiety, histories of self- hann arKI sulddal Ideatlon. Wille challenging we ¢ontinue to work Partr9 to ensure whereover possible limlted resour$ and serv1¥ are tsrgeted tc those young people In greatest need. algo continue lo work flexlbly in conjunclion with COMMS1onerS and NothNJhamshire County Council Farnity SeNees to accommodate emergencSes as qulckly as possit48 using th8 trm•rgency bedspa(% provlslon. *ou mako mountalns lo make thlngs work" INCC Cornmlsslonlng team 20241. Achlwemonts Core SO¢95. Young People A¢commoda£•dand Supp¢rt•d 47 units of accrjmmodalion have been used fiexibly to Spond lo the needs and ri$k iueS presgnted by young people. Beeen 1 April 2023 ind 31 March 2024. 80 young pe¢)ple were accommodated 8T or provided with holistic and per80n centered packages of supporL Of the 39 young people whp Moved on from the service 92% moved on from the $ervio in a PIve and planned way. achlevlng a po$ltlve outwne or one that they deslred. Core outCn05 for young people supported Include: 80 C&YP accessed $upported ac¢oFnmodationlsupport 98% ofypifp malnlalned thelr ind8pend&nc8 95% of clients rèported feeling safer be¢8use of inteNention', increase in community ¢ohegion and reduction of anth8ocial behavlour. E.9. 100% roduction in neighbour dlspule from Marcus House sinco est8blishlng core ba8e'. decrease In sodal lsolalion and lonellness 9SYo of YP Cord improvement in the safety and protectlon of YP and th•ir chlldren - 1W% of C&YP vith a child protection concern have a plan overseen by the Speualist Safeguarding Pra¢titioner. 90% of clients achleve a qual1fttiOD. 95% of YP record In¢roasgd feelings of seifryconfidencelesleem arKI gonoral irnprovement In the qualty of thelr liv8$. 95% of YP have less debt when leamng the service as B result ol improvemenls to managing fin&nc95 {budgetingl and maxlmlsing income.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 7he New Roots team cl88rty h88 a strong pawon in hetslng young pwlg. The I8111$ and siwport you provid8 arn outstanthnp. (Refarral ègew 2023)" . Sp•¢lalls¢ Constructlon Prwprnntlceshlp Sch¢me A programme fvjnded by the TJOr Twst to support young peoplo to d8vdop the skills and Confiden to tsk8 UP apprentKeships. employment and voluntseAng. The propGt supported yovng people. helping them to: d8valop personal and work-based sklll¥. i11ng basic skills. ¢ommuThc4tion. teamwork, problem sofving, maintaining routines and social and InterperyJonal skills identify hopes and aspirations and dev6h)p goals for the future . grow COnfidee aTrJ selfostem- develLy meaning and purpose develop skills lor Indèpéndent living. e.g. bas1¢ DIY and ndStandIng practi¢>llb'9s of malntalnlng home Ofyow8 people partiCipaTr): . lots rKreas8d COnfidee arvj CMUnIcation sklll$ 98% iMprod tholr mental alth and ab116ty to regulato thsir empts'ons 97% achleved an enty level AQAqu?fiG10n 100% develowient 8t knt om DIY skll The ieparatlon element of the Pr0ctd1rted young poo frixn th8 thmlnal lustlce System. Due to th8 success of the prolecl and benefits realised by yourrfj people, we hav8 taken the das1On to Continue with this work. . PartnfrngAssessmentUnlt cm1pd renovation work on a house to become a 'parenting a55e95menl unlt,, alr?ady In demand as a sped81ist plaeAnent for which it has rémained fully utllised. Otsted regulallon prèparatory woth is ¢ompl8te. staff have been w)ski11gd and systems and pr¢)¢4ss develoFed In readlness lor Ihe propety to become vacant, enknllng us to proceed. Educatlon and Tralnlng Lifewise Is a programme that fk8lps youTrJ people to develop sk1116 that support tham to Ilve trthpendent and su¢¢essfvl livos as well aB provtding them with a reo)gnis8ble entry level qualification. Over th¢ year, 77 young poopte recelved an acereditation throu9h Ihe Lrf8wi$e programme. 129 acreditations were athleved ovgr the academic period. . Propwty Portfollo Developmen¢ Offioe al our New Ho[r site ha¥ been invaluable in providng additbnal $wJrity and supwt to young parènts and abte a 24r7 staffing Presen when ne$sary. Plans to lontem Sease the 11 properties belonglng to Together Housing was unable lo proe£ed due to a Jast-mlnute change in declslon on thelr part. Instead, we renewed OUT Using management contract for the noxt 3 years. Undertaken a radical overall to inprove the energy effldèn¢y and reduce enVIronnts1 impact of our properties. startlng with new ènergy efficlent l)oifers ond WIFI heating cthls in all Staffed pr8mlses. Continue to maintain properties to relain a high star¥Jard of accommodation, e.g. redecoration of hall and 8talrs In rend Road. Altsrnatlve and Posltlv•Acllvllt•B Our team work wlth YO people to create a progr4mrrn of positive activlties. A parb¢ulai sucSsful glement of thls work was the ran9e of practical and sustainable conservatlon aclivitse$ fvnded by the D'orly Carte Foundalion. Thls work aimed to help young people, yOg parents (aThJ their childr•nl Improve feeluigs of wellbeing and develop tski118 for life and fvre wor Many ol the activibegloutlngs had or limited ¢o$ts aSSo¢lat with th8m, thls means that the CYP could continue to use loeal parks arKI areas of natural beauty, herita9e and conseTV81ion- V•E lound this to b& the cas8 for young parents, who lold us about othets visrt¥ they had madg Iho ¢hildren. The parents l•&1 better aboLrt themselve5 as parents and developir9 th6ir r8latlon$hips wlth their children - buikling whal we hop? will become habiis of 'gettlNJ outdoors, playing- whlth we know has many social and thgrapeutic benèffts.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 100% of th• CYP who participated bullt th81r confidenc6 and devalopod: ci)mmuni¢alion and teamwork skills. For example, 'D' would not come out of his room or speak to P8opI& - he would not 8ng8g¢ In a¢tiVIS- he now speaks artd is often thè16rst pèrson to got involved. baslc Skills, using basic maths and prc>lem-591ving ?kills e.g. wh8n designing and bullding bug homes and blrd feedors. abilty to be cr8atlve, have a go share their Ideas- taking risks and a¢¢epting feedback. Our p)s6t1 knpact of the prol8ct has Insplred both CYP. staff and the organis8on to do mofv. New Roots has d•¢idad lo èmbed this work wRhin our 5fjrvice and have redgployed a worker- ad8pling their role to undertake positive and educational activities that wlll continue to s1port th8 deslred outcomes of the wor Partngrshlps Wfr hav• strgnglhen8d our wllaboratlon wlth several organlsatlens: NCC - worked c105efy with NCC in the design arKI imfvnlation of 8 mulli4isdplinary team to provide additional Support lor young paople with mental health challenges Prèvent A&E pre5entation$ - mentsl Ilh wevenfjon SAP (Supported Accommodatlon Provi$lon) - a ¢ollaborative approach btheen NCC and local provid¢rn. to 5haTe and embed good praciicp IhrDugh vfftkly meetings %thero ref8rrals and ca86 185ue8 are discussod Provider Forum - A quarterly meeting pfovKling ?ccoSS to peer support 8r an ag•nda focussed on 8harfvJ good practice, issues and thallenges arKI &xplorir¥J policy. legislalion and strate9y that impacl on the worfr of young peop and supported housing. In addition. New Roots woths collabor•ti¥ety across North Nottlnghamshire and a1velY 5UPPOrt8 andl¢r parti¢ipates in a ran9e of interventions and forums'that respond to the ¢h8llenge$ l•c•d by young people, lor example.. ICS fadlitaled Bass8tlaw Chiklren and Young People, Network proactively sharirKJ fa9ouregs to enabh assessmgnL management of r18k and supporL e.g., use ol New RoDts tralning room for chlld protection conteTrncesfreviews and for collaborative care planning meellng& Gov•man¢• The board of New Roots has mel fLAly and in smaN&r wothing groups over the last year, taking a supportlve and active str8tegic l&ad•rship role. Ongoing Work ensures g0Veman arrangements and pro¢e$ses remain fil for purp08e and that TNstees have the n8ces$ary supporv$Our¢eS to urKlertake their role. Key declslons Key decisions undertsken by Trustees have Ied.. Approval of the Strategic and Buslness Plan 2023- 2026 Audit. devdopmenl and approval of key organisation operating documents, that indude the vast rgr¥Je of policies 8nd ptssilion statements, that enabled the pos registratlon of Nèw Rools an Of8ted Re9ulated 58Tvica. Restructuring of 8lalfing gtructure to provide ¥Kreased recognition and to strengthen management and support structure8 Agreement of su¢cession plans for the adminlstr8tion team and d8volopmont of a new HR focbjssed 8dmlnk8lrats.on role Inv05t in time an(5 re90urce$ to 5UPPQrt thE* hoalth arKI wellbeing of staff, induding thè training of 11 tsam members as Ment81 Health FiTsl Alders Financlally support Ihe ¢ducation and employment prole¢t previously funded by the Tudor Trust due lo the benefit5 achiev6d by the work. Rlsk M•nagem•nt Trustees and the management leadership team regularly explore the risks fa¢•d by the chartty. uslng an open 8pproach and 8 rang• of mechanisrns that enable Issues to ba identlfi•d and highlightsd. Tru51$95 accept that risk ar¢ an everyday part of charltsble activity in the voluntsry sector and severBI of our services, by thelr nature. Plent high levels of rigk, howeverwe •im to keep thes8 as low as posslbte.
WORKSOPAND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Evoryonè at New Roots has a dgar wolg to F4ay In man•3lng risk, gulded by dear pollcy and wtte(lure8 wlthin construfft and supportive environmenl that welcomes ¢onc•rn$ Tru5teas manage risk through regular revie•V and assossrftent, wthich takes place at meeting$ TNstee workshops. Informatlon is presented to the Trustees tc enable them to safeguard the Charity's fvnds and assets. This includes consid8ration of tstional, environmental. finandal, logislative. te¢hnologiGal, goveman¢e. ext8Tnal and operallonal Impa¢t. y managlng risk effectlvely Trusts•8 •n$ur8 that Signifiwtt rtsks are identified and monitored enabfing Tru8tees to make Infomed and timety decisions. Stral•glc planning Is Improved. Charitable aims and obje¢tives are achieved suc¢e$8fully. Opportunlties 8ffj not mi55gd The TNste8$ have o Tisk manawnent strategy which ccrfnprlses: Underplnnlng value of cpenness and a¢¢ountsbility Regular review of principle risks. uncertainllo$ aTrJ potsntlal chang8. PoliGy for man•Jing rlsks. ProCureS for respprKling shoutd risk materiallse. Gonting¢ncy Pn$ Ke anl¥ationo1 risks idgntified ed overthe odof 3- March 2024 Move away from a fiexlble and needs led approath to a mor& ridged framework that rAaces greatèr restrith.ons around age limitations. stricter criterla forth8 varying unlt fels of support and len9th of stays Incraassd nurntw of sites, Impact on staffirg19vels. operatin9 bplow optimum compliment Re¢ru}trnt (number required to meet 8 ful sleffing compllmont) of gddftion81 staff In an envkonment whe supwt staff have become a sorctty. Maintaining seThicè dèltvwy quality Standards with a latgety new arKI inexpgrlontyj team. Incffjased high 18v8fs and complexlty of need of young p8ople, espe¢lally regarding the additional mentsl health distress young p8ople are eThJurlng and reductions In 8cce55 to speciali98d healthlsupport services. Reduwg number of truslees and length of 8eThlcA of cuffgrrt m8mb8rs - requiring a néèd lor sU$s1On planning to malntsln the èxcellent leval of governan. Refèrral data not refleclive of the presenting risks of the young pP19. Sorne professionals appear to make need fft, to what they know of saNce availabl R&strlctfj in use and availabilty of units. due to rAJntractual definitions Lack of suilabl8 'move on, and spèciah'sod a¢cK)mrnodation- compwnded by reduced services to manage transition from young r$effi to aduli and reluct frryn Adutt Social Care Increased regulatory ovetsighl. disparty in expectslon$ and greater demand for emdènce. Futurn Plans New Root5 is committed to expanding our wnpact and rea¢h, working wilh young people to ensuro Ihey have ihe OPFK¥tunity to addres$ the challong8S they fac th6 n¢ods and aspirations Ihey have to achieve their potential. Our board of Tntstees are exF¢ri6n¢ed and highly skllled and have provided effacfive gov&mance throughout this perK. board mernl)ers have 8eNed on the board for a 8ignSficant perfod and as a result, we are seeking to implemonL a suecession plannlrwj prooss, rthmencing ¥Ath the appointment of new memb•rs wth levant background8 and capabllitiès - with the potenti81 of taktrKJ on key offir roles whan thi$ becomes necessary to ensure stroNJ gov•mance is maintalned and the board remains stabb. The development of New Roots as a strong and stable organlsatlon will remain a key strategic priority. IAÈ will review and revtse our strateglctsuslneÈs and fvnding plans1202&20261 to ensure tw contknue to be relevant and fit for purpose and devek>p and implemenl a worfrforco development plan to address Current d)allenges t• a long-témi vi•w to 'future proof malntaln our IIP Pl*inum slatus as on eXlIent ernployer.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ad(thtional key include.. Work with young people lo identify needs and issues faced. to develop strategies and project initiatives where neSSary and advocate on their b8half this is required. key issue5 have identified IlUde.. Transitions frorn care settings to supported housing Mental health and wellbeing, suicide ideation arKI self-ham resulting from the impact of childhood trauma Transition from child to aduit services Cr&qttng a broad•r Income spectrth7b: explDring contracis OpportsjnitS within different areas of work that meet our tharitable 8ims and utilise ex1 organisalional strengths and those outside of Nottinghamshire. Extending the provision of speciallst services. both in terms ol increasing unit numbers and levels and Intensity of support. introducing Specia51 Wtjrkers to speuficalty focus on Improving merrtal health and welbelng and employment. education tralnlng rernaN a key 8spirth"on. DelNering a fvrther 5 units of core accommodthin within IDknrk5¢7p and Incr8aso the numbor of properties aVlable for use throL5gh DPS by 2. Roll out the Ufewis8 unil Ihat supports the achlavement of bC home management skills wthin the Induction of all young people lo the serv1. supporting the development of pradical independ•rKe hving A(ieving Otsted ieglstratlon for the Par8nting Assessment Unit Mainlain prad¢e Standards and achiève a minimum of '9otsJ' at trjr first Otsted InspKtion of the YouTvJ Peopleg SeNlCe ReeW and develop how seThl¢es user outcomes are measured and recoTded to assist Support planning processes and better dgrnon8trale impad to young people and commi55ionerslfvnders. Actively prlorltlslng and be creallve in the way we the Invol th• partlclpation of chlldren and young peopl& In all aspects of the organlsations work, Includlng the planning, design. delivery, management and avaluation of seICeS - ensurlng Ihey are empored and their voSces aré hoard and Influe. Maintain the quality of the accommadatlon wilhin our property portfolio and ensure 011 properties meet quality stgndards and haanh and safety Issues are idenlfied and roctified in a tlmoly rnanner regardless of18ndloTd. Contlnue lo explore how New Roots can become more environmentally su$lalnablo. Flnanclal rovigw Income has increased from £1.890,131 to £2,684.739. Expenditure ha$ also increased durfng the year from £1,604,052 to £2.081.672. The balar sheet remains strong with net assets amounting to £1.742.S85(2023.. £1,139,498) ind11ng unrestricted funds of £1,658.865 {2023'. £1,077.B31). Growing surplus levels temained a key strategic owive for 2023124. to ensure we have sufficnt resOtAS to weather changes in th& economic arKI political opetating environmont and to Contin to deliver key bu5ine55 objectives of maintainlng the quallty of the accommodafjon and expanding our property portfolio to moet increasirKJ demand and changes to service user needs and those of commi5sionefS. However. our sUlUS figurès exceeded planned tsrgets. largely in part to the cuntinued extamal chaIn96S in recruiting the number and right level and r4libre of staff. despite significant YeStrnenf and employing a ran of Sttategies to r8GiuII staff locally and from abrol. Identifying $tats1e proparties has a150 tsken longer than expected. regardless wa have re¢ently located several options and are currently in the process of purchasing a signrficant srLed development that wll inc¥eased the number of 8¥ailable unlts and offer addttional delivery and office spac8. Continu8d invostment in servlce improvomwts will remain a key driver. Strategic and operational plans rem8in under Constsnt reviw to erv&uTe continued responslble u8e of chantable fuNJs and our ¢ontinued SU85 In meeting the needs of childron and young people we SUPPDkt
WORKSOPAND RETFORD HOUSING PROJECT UMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Re8er¥e• Poll¢y Re9erve$ ar• dofvJ as unTrstriGtod fun¢Js that are freety avallable to spend on any ofth& charltable pu050$. R•seN05 Should be held to service an Unexpec naod l¢r fvnds, ¥•rIng unforeseen day-to4ay operational costs, a shortfall in income orto fulfil its obfyations. As a comparby limited by guarante8, ieserves ole set accordirvj to budgat4d Incorm. It is Intendgd to mlligate against uncertainty re18ting to C48h fiow. to ensure that there are suffi¢ignt rtter¥es io rJ)ver any financial shortfalls. to rea¢t to unexpe¢ted sltuatlons, to protsct the chartys activities rf expected income is not received and to retain continuty in relBts'on to expected grant awards. The res6Nes polky 4$ only a¢tod on whén ¢a$h flow permits. to meet our otyectlves. Free reser48$ are £881.648 at the yoar WKI (2023.. £354,585). Tru8tees will be looking at way8 to in(8a8? this in th& future. Managemont Inforniallon Reserve levalg ar8 réportèd as part.of the monthty management accounts and presented to Truste8S at each ¢ornmittee mgollng. Th• CEO arKI Finance Mangger aft de51gnated to rth any i55uos in relation to the level of reserve5 dIreY with the Trustees. The pollcy will be revielved wu317Y when budgets and 8Ctivty for Ihe ye8r IB ptanned. sttr•, gov•m•nc• and man4g•m•nt The Managamèrrt Ctynmittee PTovid•$ gOrnance of the oryani5ation wrlh gUlar meetirvJs takirva place interspersed wh planned sUCOMMIttee meetlngs when notsssary. The Mmmltteè are responslbl8 for organisational strategy, pollcy revlew. buslness plannlng and supports ts budget ting. TY are wKreasiNJty Inv0fv In attendW Signfficant meetings and planning the fvturè d•vgbpmgnl of lh• organl$8110n. Trustees rec8ive porfoman¢e, ffinwKial, and operational infrjmiation aknng with any other rvant r8POrts to ensu the organi$ation is achiemng its tsrgets and meeting its charitable awns and objectives and wok¢ts the safeguarding of org¥58t10nal assets. In lation to the Chi•f Exe¢utivt Officer. the Commlttee act as a critical friend. All MberS ofthe Management Commlttée glvè their tlm8 blnnIY and recoive no benefils frc charlty, ¢latrnlng mlnlmal expen. Management Committee IDirèctorB and Trusts&È), wlYJ arg also the directcrs for the purpose of company I, and who served during the year and up to the date of signature of the financial statem•nts were.. L Davenport J Grifflths R Hob$on L Old¢om S (Chair) J Barton ITr•asurerl P DIc*ion Ivicg Chair) {Resigned 7 June 2023) {Reslgned 28 March 20241 Reclultmgnt and appolntm•nl of tfUSte¢s The Chwity carries out a sklls awlit of Gurrent trustee5 which identifies knowledge gaps within the bcth and then activety takes stéps to récnit trustses acrx)rdingty.
WORKSOP AND REfFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustee Induc11 and tralning New members of the Board ofTrustees wll become familiar wilh the practi(zl work ofthe charity after reading theAnnu#l Report and vthl have received a ojpy oflhe p1emtyarlUrn arnl Arti&s ofAssocAation and th8 latost finanrial reports. Addilionalty, trEy are invited to atteTrJ induction trainirwJ whith covers the following areas.. . The Poly and PrarAce Guido Trainir¥J and Support Rolas and Responsibililigs l(n(wledge. Communicatlon Best Pra¢b"ce Guidos Arrang•m•nts for settlng key management pewsonnel MneratIOn The salary 9rade appropriate for each posl will be sel at the time of recruitinent based on Ihe agreed job descripts'on and pwson specification. Gr*lÈs wlll reviewed by agreement or whgrp there has been a significant variats'on in the post's duties and reswnstbills. Salary review5 will b8 based on comparlson with rol8s of similar responsibilities wilhln the voluntary and so¢ial care sgctor network RunnhJ ofthe organi5ation, irlUding defNery of servi, fukince and human resources rernaln ddÉgated to the senlorrnanagement team. As we continue to emerge from the COVID pandemlc and head Into both lICar economlc uncertainty tho Trustees would like to thank both the Senp)r Stsff and the team8 fortheir aderShip, Support and commitment for continued gjccess. Audltor In accordance wth the company's arbcl8s, a rgsolulion propDsing that Roger5 Spencer be reaF)polnted as auditor of the company will b& pul * a General Meeting. The Tru es re s(was approved by the Board of Management Committee (Dire¢tors And Trustees). S West (Chairl Chair 2025
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Managemant Committee {DirectDrs and Tru3te88). who are also the directors of Worksop and Retrord Housirbj Project Limited for the poSe of company law, are reswjnsibfe for preparing th8 Trustees Ryrt and the financial 5tatern8nts in accordan wtth applicable law and Unlted Kingdom Accounling Standards {Unitsd Kingdom Generally Amtwj Accounting Practice). Company law Tequires the Management Committee {DirectLYS and Twstee9) to prepare financial statemgnts for each )Inanaal ye8r whlch glve a Irl and fail view of the state of affalrs of Ihe charlty and of the incomlng resources and appltcauon of resources, including the income and experKliture, of the chatitoble company lor that year. In preparing thès• finanual statements, the Manapmtt Commltte& (Directors and Trustees) a wuired to: - $618¢t suitable aecountirwJ polirAes and then apply Ihem cc$1stenty,' - observe the methods and principles in the Charitie5 SORP: - make judgem8nls and ostimates that are rea60nable and prudent,. state whether applicable UK A¢countsng StaThJards have been foNowed. subject to any materlal departures (tisdosed and explained in the financial statsments.. and - prepare the financlal Statements on the going concem baslg unless it Is in8ppfDpriots to presLwne that the ¢haAty 11 continue in operation. The Managemonl Commltt88 (Dirèctots and Trustees) are responsible for keeping odequate accountlng records that disclose with reasonable 8ccuracy 8t any lime the Iln•nGial position of the charity and enable them to ensure that the finanryal statements compty wllh the Cc*npani•s Act 2006. They are also responsible for safegvardirrfJ the assets of the charity and hence for taking TeasoThable steps for the preventlon and detection of ftaud and other IITegularlile$. 10-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT INDEPENDENT AUDITOR'S REPORT TO THE MANAGEMENT COMMITfEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT UMITED Oplnlon have audited the finan¢ial statements of Wotksop and Retford Housing Project Umllod (the 'charity'l for the year ended 31 March 2024 which comprise the statement of financial activities, the balan sheet. the statement of cash flows and notes to the financaal statements, lnrJ1lng $•3nifi¢aTrt ac£oursting palicias. financial reporti framewoth that has been applied In thelr preparation is applicable law and uned lfjngdi)rn Accounting Standards. induding Financial Reporting Standard 102 The Finanual Repomng Standaftj 8ppli¢gble in the UK and Republic of Ireland (United Kingdom Generalty Accepted Accounting Pradi¢e>. In our opinion. the financial statements: give a tiue and fair vlow of the State of the charitable companys affairs as at 31 March 2024 and of it8 incoming resources 8nd application of resources. for the year then ended.. hav8 been properly prepared in accordanL with United Kingdom General ApIed Accounting Pracknct., have been preparèd in accordance with the requirements oftho Compallles Act 20C£. Bas1$ tor oplnlon We conducted our audit in accordanc8 ryth Intsmational Stsndards on Audillng (UKI IISAS IUK}I qnd 8Fvluble law. Our responsibilie$ und•r Iht)ge standards ats further described in the Auditors r8sponsibilitie$ for the audit ol the fingnGial stotsments section of our report. We aro indopendenl of tho Charity in accordanc with the elhic41 requirements that are relevant ts our audlt ol tho ffinda1 statements In Ihe UK. including the FRC'S Ethlc81 Standard, and we have fulfilled uur other ethical responsibltieS in accordance with he¥e requirements. bel that thé audlt evrden¢g we have obtained is sufficient and approVe to provkle A basi5 for our opinion. ¢on¢lu$ion8 relating to golng concern In 8ud4tlng the finan¢lal statements, we have conduded that the Trustees u$6 of the golng conLtm ba¥1$ of ar£ounting In thg preparation of the fin8n¢l81 statements Is appropriate. Based on the work we have pgrfomied, we have not Idefied any m*rial uncertainties relallng to events or ¢ondition¥ that. individually OT collectively. may cast signlfi¢ant doubt on the ¢harty's abillty lo contlnue as a goil conrn for a period of at lea9t fv4elve month$ from when the financial statements are authori5ed for is5. Our responsibliti85 and the responsibilities of the Management Commlttee {Direetors and Trustees) wh respect to going concem are described In the relevant seGtions of this report. othgr Infonnatlon Th9 OthBr infrimation comprise5 the Infom)8tion induded in the annual report other than Ihe financial ststem¢nts and our auditorf8 report thereon. The Monagemerrt Committee {Directors and Tru5tees1 are resporssible for the other infowmation contair)ed within the annual TeporL Our opinwjn on the financial slatements does not coveT the olFEr information ond we do not express any lorm of assuran cOndusn thereon. Our re9ponsibility is to read the ottrT inftmati¢Jn and. in doing 50. consider whether Ihp other infomiation is malerlally Incon315tent with the financial statemarts or our knowWge obtained in the course of the audit, OT othemse appears to be materially misstated. If we identify wch material incon515tencies OT apparent material misstaternpnts. we are required to determine Nthettw thi$ gives rise to a material misststemenl in the ffinar1 staiements themselves. If. based on the worf( we have perfomied. we condude Ihat th818 is a material misstatement of this olher infr)rmation. we are r8quired to report that facL have nothlng to report in Ihis regard.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMrrTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED Matters on whlch are required to r•port by oxc•ptlon We havg nothing to roport in respect of the following matters in r41al)Tr lo which the Chartt105 (Accounts and Repcrtsl Ragulations 2008 requlres us to Rport to you if, in our opini. the infoation grven in the fflnarKial Statements is inconslstent In any matelal re$ct wly) Ihe Trustees repor( or sufficient accounliry records hove not been kept or the ffinancial statemants aro not in agreement wlth thè acGountiro records.. or we have not reived all the Infomiation arKI explanations we require for our audit R••pon•lbllhl•$ of Manayment Commlttèè (Dlrectors and Tru$t¢¢g) As •xplaln¢d more lulty in the statement of Trustees re8ponsibifitw tho Managgmgnl Committee (Dlr8Ctors and Trustses). who we also the dJ'r¢ctor5 of the charlty for Ihe purpose of ¢ompany law, a responsible for the pteparatlon ol the finan¢lal statemonts and for beirwJ satisfied thgt they give a true aThl lair and for sh internal corrtrol as the Management Committoe (Directors and Trustees) detem)Ine is cesSary to wable the preparation of financlal 8tatem6nts th are free from matsrfal mlsstat•ment, Whether dua to fraud or error. In pParing the financial staternts, the Management Ccthmittae (Directors and Trusteesl are responslble for asge9s1ng ¢harity's ability to contlnue as a golng contthi, disdosing, as apF4lcable, matters related to going rnCern and u$ing t going ¢oncem basis of accounting unless the Management Coffffiittee {Dlr•ctors and Ttee5) either intend lo Ilquldats Ihe charttable CzrfnpY or to Céase op&ration$, or have no realistic eltematfvo but to do so. AudltoVs rospon$lblllll•8 for th• audlt of Ihe Ilnanclal 6tatèm•n We have been appointed as auditor under sedlon 145 of the Chaiitigs Act 2011 and reFtirt In accothnee wlth the AGt and relevant re9ulations made or havuig eff6¢t thereunder. Our objectives are lo oblain Rason¥bl8 assurance atrLrt whether Ihe ffinandal $tatemerts a5 a Wle are free from material misstatement. whether due to fr¥ud or error. and to issue en aLKlitorfs report that indthjes our OFlnlon. Reasonable aSsUrare 15 0 high le¥+l of assuraneè bul is not ? guarantee U)at an audlt conducted in accordance with ISAS (UK) wlll always delect a m*8rfal misstatement when 11 exlsts. Mlsstalements can arise from fraud or error and are considered material if, indiwdually or in the aggragato, tsy could reasonably be eKpèct•d to iniluenre thg economic dedsions of Usérs taken on basls ofthese finan¢tal statsmwts. Irregularities, including fraud, are instancè$ of nOnorn[lanCe wlth laws and regulatlons. deslgn procedures in line with our responslbllliles, outllned above, lo deted material misstatements in respect of Irregulari. indudhvJ frawj. The extent to whlch our proeodures are capable of detecting irregularilie5. including fraud. is detsiled below. Our approach to identifying and assessing th8 rlsk of mal6rial misstalemgnt in respe¢t ol ¥regularities. including fraud and n¢)Tr¢ompli9nc8 with law$ and regulations, was as follows.. The engagement partner ensured that the engagement team couecVety had the approprlate Djmpetence. capabilities and skills to idenlfy Of rfjcognise non4omplian¢e wilh applKabte laws and regulations", identitled thè las8 regulations appli¢•ble to the charity Ihrough discussions wlth twstee5 and other management, and Irom our knowlédgo aNI experienrAry of the chartty sector ar housing provldws., We focused on speafi¢ laws and regulations bthich we consided moy have o dire¢t material effect on the financlal statèmènls or the operations of the drity, IrKluding the Cornpani9s Act 20tX, taxation leglslalion and dats protection, anti-bribery. empbyment, onvironm&ntal and health and safety legislation,. We assessed the extent of conwiance wlth the laws and regdations KIentif1 above through maklng enqulrfes of manag$Mènl aryj inSFecting legal corrgspondence: and Identr"fied laws and Tegulatlons were ¢ommunicated wiihin ts audlt le8m regularly and the team remained alert to instances of nonwccffipliance throughout thè audlL 12-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT UMrrED a5SP35ed the SLF5replibilty of the chariV8 finandal Slatements to material ml8St8t8man¢ Indurjng obtaining an understanding ofhow fraud might occur. by: Makin9 enquiries ol managemerrt as to where they consKl8red there wa¥ 8U¥CePtibilty to fraud, thoir knowledge ol actual, 8u5pedfjd and alleged fraud.. Ccmidoring the internal ¢Dntrol8 In place to mltlgat• risks of fraud and nonwcomplianL* with lawg 9atIOnS,. and Underntandlng the dfjsign of th8 charitys remunerats'on policies. To address the risk offraud through management b1&8 and override of o)ntrols. we.. Porfomod analyucal procedures to k1enfy any unusual or Urpected rolalion5hip5: Testtsj journal anlrles to Idenlbfy unusual transacknons.. Assessed whèlh6r ludgemenis assumptlons made In dthnnining the accounting 8¥timates set OLrt in note 1 ware indicatlve of potenllal bl8$,' and Invèstigatsd th¢ rationalg behind 5iwthcant or unusual Ir•sadions. In ponSe to the risk ol Irregularltle8 and non4ompllants wilh laws arKI regulatlons. wo de54ned pioc•duTes which induded. but were not limlled to: Awing financlal Ststemenl dis¢lo$ur&s to und•rtying suFportlng documentafjon., Reading the minute¥ of meetings of those thafged wllh g0veMan.. Enquirlng of managgmenl as to actual and rotsntial litlgation and daims; and Revi8w'ng corr88pond8nc8 wtth rel8vant rogulators. Because of the intterenl lim[taon$ of an aLKIIt, th&r• 1$ a risk thatwe wll not détact all Irrggul8ritSes. Inc4udlng those ading to a materlal mlsslalement in the finan¢ial statements or DOnomplince wrf(h regulation. Th1$ rl¥k incroases the more thal ¢ompllance with q law or regulatKJn is removed from tho Events and transacdons rsflected In the finand815t&tements. es we will ba 1888 likely to become aware of nstances of non-compliance. The risk is &lso greater regarding Irregularttles oecurriro ¢Jue to fraud rather than error, a8 fraud involves intsnttonal cOnalment. fNgery, collusion, omlssion Or mi5Tepresentat'on. A fvrther descrlptt¢)n ol our responsibrfffties 15 &vailoble on the Finandal Rèporting Councll's w8t6lie at https'.11 vThM.frc.org.ukl?uditorsre8ponsibilities. This descriplon foms part of our audilovs report. -13-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED Uso of ourreport This rtyort is made solely to the charity's trustees, es a body. in accordanc£ wlth Part 4 01 the Charitres {Accounts and Rèports) R6gulalions 2008. Our audit work has been undertaken so that we might stale to Ihè tharity's trust88s those mattèrs we are require(t to slal8 to Ihgm in an audits,8 report 8nd fvr no othar purposo. To the fvllest extent pernitted by law, we do not aGpt or assurm rèsponslbllity to anyone other than the charity and Ihe tharrty's twstses as a body, for our work, for thi8 raport, or for the opinions w4 havo fomBd. Mgl¥ln Ball•y FCCA DChA Isonlor Ststutory Audltor) for and on behalf of Roger5 Spgncer Chartgrgd Accountant8 Newstead Housè Pelham Road Nottlngham NGS 1AP Date R4)98rs Sncer Is oligible for appointment as auditor of the charity by virtue of eliglbllty for appointrnent a8 auditty of a company under Sectlon 1212 of th8 Companles Ad 2006. 14-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Currnnt Ilnanclll yaar Unrn8trl¢l•d Rostri¢tèd funds funds 2024 2024 Tolal Totsl 2024 2023 Income from: Charitaè4e adi*Aties other trading 8ctivrtie$ 2.594.489 16.963 73,287 2,067,776 16.%3 1.864.515 25,616 Total Income 2,611.452 73,287 2,684,739 1.890,131 Ex dlturg on". RaisiTrJ fiJnd8 30.589 5,500 36,089 32.848 Charrtablo activities 1.999.829 45,754 2,045,583 1,571.204 Total re8ouree8 expènd•d 2.030.418 51,254 2,081,672 1,604.052 Net Income for the yearl Net movement In funds 581.034 22.033 603,067 286.079 Fund balances at 1 ApNI 2023 1,077,831 61,667 1,139,498 853,419 Fund balane•8 at 31 March 2024 1,658,865 83,700 1.742.585 1,139,498 Tho statsment of finanaal activi11gs Inoludes all gains and lo$Èes reujgnised in the year. The slatsment of finandal actlvltle5 Includ8s all gains and losses recogn15ed In the year. All Income and expendllure derive from continuing activities. The siatement of fInan81 activities also Compl with the requirements for an incomè and 8ynditure account under the Companles Act 2(196. 15-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor nnanclal yoar Unrgstrfcted Restrlcted fund$ lund¥ 2023 X123 Total 2023 Choritabl& activiti99 other tradlTrJ actlvltT88 1.821,515 25,616 43.000 1,864.515 25.616 Totsl Incom• 1,847,131 43,OOD 1,890.131 Raising funds 32,848 32.848 haTitablg acbwttes 1.538.583 32,621 1,571,204 Ttstsl re¥ources expondod 1.571,431 32,621 1.604,052 Gross transfers botsyeen frjnds 1.292 11,292) Net Income for the y¢•rf Net moVeTht In lund8 276,992 9,087 286.079 Fund balan$ at 144prd 2D22 800,839 52,580 853,419 Fund lanCeS at 31 Mr¢h 2023 1.077,831 61,667 1,139.498 The statent of finandal actiwties incluths all gain8 and105ses reeognisod in the year. The ststement offinanaal activities Inclu[5 an gains and105ses recogni3ed in ihe year. All Income and expenditUTe derive from conlinulng activeS. The statement of Ilnancl activtties a150 eomplks wmh the requlrements for an Income and expenditure account under the ¢(PanIeS Art 2006.
WORKSOP AND RETFORD HOUSING PROJECT LIMrrED NEW ROOTS HOUSING PROJECT BALANCE SHEET AS AT31 hlARCH 2024 2024 2(Y23 Noto8 Fix•d a#i•ts Tangibk assets Current ets 10 1,026.479 983,501 11 378.933 694,102 460,217 164,988 Cash al bank and in hand 1.073.035 625.205 Credltor¥: amounts talllng due withln onè y•ar 13 (177,383) <281.863) Not ¢wrent assets 895.652 343.342 Total assets less current Ilabllllh8 1.922.131 1.326.843 Credltrtrrs: amounts falllng du• aft•T more tPAn ono ywr 14 (179.566) {187,345) Net As6ts 1,742.565 1,139,498 In¢om• funds Restricted funds Unrestrooted funds 17 83,71XI 1,658,865 61,667 1,077,831 1,742,565 1,139,498 The company is énUlld to thè exemption frc*x the audit rquirément ¢ontained in section 477 of th8 cOan18$ Act 2006. forlhe year frndgd 31 March 2024, although an a1t has been carried out under Bectlon 144 of the Chariti9S Act2011. The directors acknowledge their regponsibifitio$ for complying the requlrements of th& Companies A¢1 2C4)6 with réspact to accounllng records and the praration of Ilnanelal statements. These fi tothès ncial 8tatsments hav6 been prepared in accordancA vAth the provlslons appliGablp to ¢ompanies subject 11 MpanI&S regime. The ncial statements were approved by the Manag8m8nt Committee (Direthrs And Tru5te891 30 20ZS Wast (Chairl Trustse Complny R•glstratlon No. 02814960 17-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW. ROOTS HOUSING PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Ca8h IloM from op•rating actlvltlos Cash generated from op8raliDn5 21 656.372 55,244 In¥e8tlng actlvlt1•6 Purd1 oftsngible fixed assets Interest r8¢•ived 1107,0261 4.299 {174,039) S30 Net cash used In In¥e8tlng •¢llvitlg8 {102,727} (173.$091 Flnan¢lng aGltvltla8 RepayTnent of b8nk loang Interest and finandng ¢08ts 17,7791 {16,7521 (9.242) 111,738) Net Cash umd In fln4n¢lng actlvltl•s (24.5311 (20.9801 N¢t In¢r•atselldgttrga¥ol In cash and •qufval•nts 529,114 (139.245) Cash and cash equivalents et beginning of year 164,988 304,233 Cash and rAsh oqulvalonts al end of ye4r 694,102 164,988 R•latlng to: Cash 8t bank and in hand 694.102 184.988 18-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT STATEPAENT OF CASH FLOWS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Crlti¢al accounUng a811mllteg and Judo•monts In the application of the charrtyb accountin9 p)licle$, thè Manag•ment Commtttee (DICtorS and Twstsesl are requirfyd to m8ko judgements. estimates and asswnptions about the ¢•rrying amount of assets and Ilablltties that are not readily apparent from 0th8r sources. The esllmal•¥ and assoclated aS$ptIorB are bBsed on historicel experienca and other faotcrfs that are conslderod to be rekvant. Actual results may drffer from thes8 8stlmales. Thg estimate5 and underfylng assumptions are revlewed an ongoing basis. R8V15ions to accounting estimat&8 are recognlsed in the period in which the 6sts.mate is rewsed where the revislon affects onty Ihat period. 01 in the periL)d of th8 rnvL8lon and ftrture periods Whe the revi¥ion affects both Gurrent and luturè p8riod& Ae¢ountlng pollcl•• Charlty InfomiAtlon Work30p and Retford Houslng Project Lpmbtsd is a private company limited by guarantee Incoor•Ied in Engl8nd and Wales. Th$ r8gisl&red office 1$ 2 Ovor8ThJ Road, Worksop, Nothngham$hire, S80 1QF. 2.1 Accountlng ¢onvèntlon The thnancipl statements have been prepaffjd In accordance wlth the charitys govemln9 0Ment, the Companle$ Act 2006, FRS 102 'Th8 Flnancial Roportkng Standard applicable in the UK and Repubb'e of IrelarKI' I'FRS 102.1 and the Charities SORP "A¢¢ounUng ar Reporting by Charities: Ststement of Recommended Pr8cUc• applicable to charftles prepatlng Ih¢ir aecounts In a¢cordance with the Finandal Reportlng Standard applicable in the UK aTrJ Republic of Ireiand (FRS 1021" (0Ctive 1 January 20191. The charlty 1$ a Public Benefit Entty As defined by FRS 102. The finan¢lal stst•rnents are prepared in 5terting, which is the fun¢tional ¢UTrency of the charity. Monètary Owtts in these financial 8tatem•nts ar• rounded to Ihe nearest £. Thè ffnandal 5tstements have been prepared under Ihe historlcal cost convention, modlffed lo include the Tevaluation of freehold proportie5 and to Include Investrnent properties 8nd ¢ertaln financial instruments at fair value. The pdndpal accnunting polic$ lOp arp set out telow. 22 Golng canGer At the me of approving the financial ststements, the Management Committee (Directors and Trustees) have a reasonable expeclalion that the charity has adequate resources to conllnue In operatlon81 exLstence for the foreseeab16 fvlure. Thus the Management Committee {Director$ and Trustees) continuo to adopt the going oncern basi5 of aGwunting in preparing the anCIal stst¢ments. 13 Charltsble funds Unrestriotsd lunds are avai18ble for use at the dtscretion of the Managèment Committee IDirector8 arxl Trustees) In further4nce of thelr charita)le obJ"ectives. Restricted funds are subiecl to Speofic cOndIn& by donors grantors ¥3 to how they may be ed. The PLifposgs and u50s of Ihe restricted fvnd5 are set out in the notés to Iho financial 5tatem8nts. 2.4 Income Income Is cognISed when the chaTtty 18 allY entitled to it after any perfamianca conditlons have b88n met. th8 amounts can b8 measured rellably. arKI It Is probable that in¢omE Mll be TeGeived. Cash donations are rècognised on recefjpt Other donatlon$ are recognised Dnce ihe charity has beon nobfi8d ol the donation, unless perfomian¢e Conditions require deferr81 Df the amount. Income tax recoverabfe In relatign lo donationg rec9ived under GiftAid or deeds of co¥tnant Is rocognlsod ai the of thg donation. 19-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng ptIeS (eontlnuod Le9acies are racognised on reIpt or otheiSe if thp charity ha5 been notified ol impendrvJ distribution. the OUnt is known. and receipt FS eypected. If the amount is not known. the legacy 15 treated as a CCtingnt ass8L 2.6 Expendlture All expenditure is acefjunted lor on an accwals basis and has been ctassiled vndei headings that aggregate all costs related to the category. lthere costs cannot be directy athibuted to particular headings they have been allocated to activities on a basis consistent wilh tr use of the resources. Expendbture is rècognised on there 15 a legal or oThtructDrn obligation to make a payment to a third party. it 15 probatAe that setmement will be requId arKI the OUnt of thè otrAlgalion can be me8sur8d foliabty. Ey4Jenditure is classified urKler the following actimty headings: Costs of raising fvnds ¢omprlse the promotional costs to the chailty. Expenditurg on charitable activitles Induths all costs undertaken to furth¢r the purposes of the ¢harity and thelr assocl8ted support Costs, incluthng costs ofgovernanc8. 2.6 Tanglblo Ilxed ass•ts Tanglble fixed assets are Inldalty measured at C1 arKI subsequently measured at cost valuation. net of déprè¢l*ion and any imwMent10$50S. Depreelation Is providod on tangible assets on a straight line basis on cost al ratss cakulated to write off th8 o)3ts ofeach asset over its expectsd usefvl lile as lolknws: Freehold land and IM"Id Plant and equwnenl Fixtures and fitting5 CompLrters Motor 1cleS SO ye¥8 4yea 4 years 4 ygar5 4 years The gain or loss arising on the disposal of an asset is deleIned as the d11kren between the sale proceeds and the caryirwJ value ofthe 0sseL and is recDgrd5ed in the statsment of financial acbvib85. 2.7 Impalrnient of ftxed assets At each repting end date. the charity reviews the carrying amounts of its tangble assets to detemiine whether there is any indication that Ihose assets have suffered an impaiment k)s5. If any such indication exists, the recvverBble amount of the asset 1$ •stimated in order to detefmine the extent of the Irr4>alnt 103s (if any). 2.8 Employm b•n•fits The co$t of any unused holKl8y entitlernent Fs recogni5ed in the period in whith the emdoyee's 8eth%s are received. Termination beneffts are reccwJnised Immediatety a$ an oxpense when the charity Is dèmon¥trably committed to temlnate the wnF4oyment of an employe6 or to provide termination benefits. -20-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclo9 {ConUnued) 19 Gov•mmtrnt grnThts Government grants are recognls8d at the fair value of the assgt received or recelvdble whon therè is raasonable 8¥suran¢e that the grant (¥JThJitions will be mel and tho 9rants will be recefv8d. A 9rant that specifies perfomianct ¢ondllions Is recognised wi income when the pwhmiance ndItionS are met. IAthere a grant does not speThfy p8rfomianca conditlons tt Is racognised In in¢ome when the proce8ds are recelved or re¢elvablè. A grant received before the rwnition criteria are ¥atisffied is recognlsed as a Ilability. Charltable actlvlll•4 2024 2023 Grants Rents and Young Persons Supported Accommcpdatlon Servlc*$ wicome re1v8b1o 73.287 43,000 2,594,489 1,821.515 2.667.776 1,864.515 Analysis by fund Unr•stricted fvrs Restricted fund5 2,594,489 1,821,515 73.287 43.0 2,667.778 1.864,515 Ral•lng funds R•strf¢tsd fund Total 2024 2024 2024 2023 ic Consultancy fees 30,589 5,500 36,089 32,848 30.589 5,500 36.089 3184B 21
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltablo actfvitle8 2024 2023 Staff costs Training Costs Staff travel costs Insurance MoVn units rents Repairs and renewals Council tax and water rats5 Light and hoal Advortislng, pnng, postage and stationery Telephone Cleaning Motor exp8nses Equpmenl rental Bad debts wrftten off Professional feès 88nk charges Loan Inter•st Other Interest payable Aclivities and projocts Sundry 6xpenses Depree4alon of fixed assets ITsoftware and wnsumables Reeruiirnent costs Security costs NCHAfees 887.922 15.702 11,464 14,793 138.288 120.715 11.661 65.401 9,560 31,403 8,624 19 5,022 123,381 129 473 16,752 3.217 727.810 7.568 11.614 133.687 87,244 38,277 10,488 25,550 11,822 1S5 5,386 50.641 6.935 472 11.738 4,068 23.509 37.683 21.737 14.127 4.140 268.064 17,550 64.048 11,384 21,288 398,389 1.988,295 1,521.852 Share of govemance costs (see nok n 57,288 4g.552 2.045.683 1,571.204 Ana]ysl8 by fund Unrestn'cled fund5 Restricted funds 1,999.829 45,754 2,045,583 For yoar ?nd•d 31 Mar¢h 2023 Unrestricted fund5 ReStrid funds 1,538,583 32,621 1,571,204
WORKSOP AND REfFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CorINuED} FOR THE YEAR ENDED 31 MARCH 2024 M•nagement Commltteè {Dlr•¢tor8 And Tru8t¢o•) None of the Man•¥menl Committee {Dlrectors and Trustè8sI laT any petsons conne¢bJ with them) reco1 any remuneration. One member of the Management Commiltee {Dlredor5 and Trustees) received £Nil (2023.. £Nil) for thg rgThbvr5emenl of trav811ing axpensès duTing the yeai. Governan costs 2024 2023 Staff costs Audil 8nd aOUnn¢Y fees 40,901 16,387 3S,831 13,721 57.288 49.552 Govemance costs Indud88 payments to the auditors 01£6.000 (2023- £5,5C} for audit fee5. Taxation The charity is exempt from tax on income and galns falling within sgetion 505 of the Taxes Act 1988 or sectic 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its charitsble objects. -23-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employee8 Numbw of •mployee8 The arage monthly number ofemployees duriryJ the year wa$.. 2024 Number 2023 Numhr 32 28 Employment costs 2024 2023 Wages and ¥alari8s Sodal S•¢UTity costs Othor ponsion costs 825,327 47,234 56.262 686,007 30.131 47.503 928.823 763.641 The number of emF4oyo•s wh¢x¢ annual remunerallon was £60,000 or more were.. 2024 Number 2023 Number £eo,coch£70.0(KJ Remunprdtlon of key maMgem¢nt p¢rnonn•l The rwnuneiats'on of key meMent personnel w89 ag follo. 2024 2Q23 Aggregate compewtson 217.031 19D,900 -24-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Tanglblo flxed assets Freohol¢ land bulldlngs Plant•nd Fithrn¥ •qulpm•nt Ilttln96 ornpulorn Motor ¥ehlcl68 Cost At 1 April 2023 itions 1.072.160 29.231 127.482 51.570 79.492 4,175 44,469 7,063 14.987 1.323,603 107.026 At 31 March 2024 1,101.391 179,052 83,667 S1.532 14,987 1.430.629 Depreclatlon and Impalnnent At 1 April 2023 Depreciation charged In th8 year 179,988 79,377 62,139 18.599 340.103 22,489 24.083 8,603 8,560 312 64.047 At 31 March 2024 202,477 103.460 70.742 27,159 312 404,150 Carrylng amount At 31 March 2024 898,914 75.592 12.925 24,373 14,675 1,026,479 At 31 Mar¢h 2023 892,173 48.106 17,353 25,869 983.501 All tangible fjxed assets are for the PUFpose of the ch¥ty. The c05t of depreciable a55ets induded in land and buildings as al 31 March 2024 was £1.133,725 (2023.. £986,792). The Charity Bank Limited holds a fitst legal charge over freehold land and buikling8 wilh a bud( value of £466,575 {2023.. £477.648) as secuiity for loans advanced tr)r the develcprnent of those properties. 11 Debtoro 2023 Amounts lalllng du• wlthln one ye•r. Trade debtors Pr•paymonts and arxrued income 364,218 14,715 456,092 4,125 378.933 460,217 12 Loam and ovordrats 2023 Bank bans 188.( 195.845 Payable within one year Payable aftèr onè year 8,SC¥) 179.566 8.500 187.345 -25-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Loan& Ind overdrafts (Contlnued> The bank loan, Is s6red by way of a first legal charge over 2 and 4 OvÈrÉnd Road. 13 cdItOrJ. 4mounts falllng due wllhln one •r 2024 2023 Note9 Bank ID8ns Other tsxatlon and so¢lal security Trade uedilors Acuuals aThl deferred income 12 8.500 33.449 101,865 15,233 244.7 14.063 177.383 281,863 14 Cr•dlknrs: amounts lalling duo Jfter more than one year 2024 2023 Bank loans 12 179.568 187.345 IS Unrè$trl¢tsd lunds The unreslricled funds of the charfty comprise the unexpended balances of donations and grants which are not subject to speciffic conditions by donors and giantors as to how they may ba used, These Include designated fijnds which have been set aside out of unrestricted fiJrKIs by the tnjslees for 5cifiC purposes. At 1 Aprll 2023 In¢omln9 Resource$ rnsourc•* •xpwnd•d Transfern At 31 r¢h 2024 General lund$ 1.077,831 2,611,452 (2.030,418) 1.658,865 Prevlous y•ar: At1Ap 2022 Incomlno Re50ufGes •xpond•d Transfer¥ At 31 March Gen8ral fur 800,839 1.847.131 {1,571,431} 1,292 1,077,831 -26-
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Analy81s of not auets belw6•n lunds Unrestrfcled fundB 2024 Rebtrlcted funds 2024 Totsl 2024 At 31 MaKh 2024: Tangiblg ass•ts Current assetsllllabilltifrs) Long lem Ilablilies 956,783 881.648 <179.566) 69.696 14.IJ04 1,026.479 895,652 1179.566) 1.658,8e5 83.700 1,742.565 UnMtrlct•d R••trlct•d funds fund$ 2023 2023 Total Al 31 M#ich 2023: Tangible assets Current assetsl{liabltti8s) Long temi Ilabl¥liBS 910,591 354.585 {187.345) 72,910 (11,243) 983.601 343.342 (187.345) 1.077.831 61, 1.139,498 -27-
WORKSOP AND RETFORD HOUSING PROJECT LIMrrED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 17 RMtrl¢t•d fu•di Th¢ rathdlLmd¥ oflh rtty C••1h1 wp8r#led beknfic88 of dononJ and ymnb hddonlTrAI wbiprt lo 4p•¢ ai t• hvwthqy Th4y flovem•nt In funds IIDv•m•ntkn Tundts Nalon81 LLery Chethkw 8ovd 12,3541 6,QQO 12.6541 3.446 1.292 2JA49 11292 TthTrth Hormlws Unk NCC. ofd IMlh*n 8enevobrt 43.DOD 128.7781 11.4891 37,771 17.896 47,JfrJ 121.664 117.8961 63,407 D Ohty Sport• Eld 3.CrfJO 13,847 14.987 1.140) 52.5 4800 132.821 12921 11,667 73,287 ISl,2$41 63.700
WORKSOP AND REfFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS {coMfiNUED) 17 R•strld•d funds The Nth•l Lottw. th gMI was mad•to Ih• pur¢Pth of a proporty Road. tirh has b•on r•lurblsh8dandi$ bnB brtha• CS)Ilhv•th and Hdp Fer Htffj•l•¥8. Ihl• mgmy w•¥ fuly utilS••d YJ th fLwathlrffj t LYIP I1 d 2 ¥nd 4 Road. The r h Tth TAAI. • VJorer to ots rfedfve •¥p•rfen¢e IN our mgsi comX young pwlfr. H1v4 & •n¥•nm•nt OW y¢•1 P•JF4J Homdoss Unkfvndslh• TthrbL4hmeth ol prcvrtt. mmir•s•8 dewdkn t49Èd. NNC Ofs12d regtOn lee. kn188rOI?.10 fvndtho dvTrbrilatgr,knNJ aThdfftbng. SpDts fwJl•nd- F¥1400r£Yrn •9r(llngt1M8d wrtB •4ulwnont.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED NEW ROOTS HOUSING PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Op•ratlna ¢ommlth)ents T1 fubjre mlnlmum leasg payments und8r nofvcanc&ll8bl8 other operaUng188ses are as folow5: 2023 Imthin one year Betrn bNo and fve yéars 52.5Y3 105,186 52.593 157.778 157,779 210.371 19 Related party tran6a¢llon$ The were no dtsc10¥ab related paty trans8c14on3 during th8 year {2023- none). 20 Anaty8ls of ¢hanges In net fund81(debt) At l Aprfl 2023 C•th fltyw8At 31 M•Yeh 2024 Cash at bank and In hand 164,988 529,114 694.102 Loans falling due wlthln one year Loans falling due after more than one year (8,50D) {187.345} (B,5CN)) (179.566) 7,779 (30,857) 536.893 5LB.038 21 Cish gen•rat•d from operatlons 2024 Surplug for th$ yo8r 803,067 288.079 ArfIu5tments tr. {4.2991 16.752 (5301 11,738 37,883 Interest on loan Depreciallon aTrJ knpaiTment of tanglJl& fixed 8986ts Movements In wort¢lng capital: Decreasel(incTrase) in debtots (De¢rease>AnGrease in CTed1t5 81,284 {104,480) 1428,087) 148.361 Ca•h genfrrnted from operatlon8 656,372 55,244