Registered number: 03167701
Charity number: 1053948
THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE CHANGE PORTFOLIO
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative detsils of the Charitable Company. its Trustees and
advisers
Trustees. report
Independent auditors. report on the financial ststements
Statement of financial activltles
2-11
12-15
16
Balance sheet
17
Statement of cash flows
18
Notes to the financial statements
19-32

THE CHANGE PORTFOLIO
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Mr l J Parkins, Treasurer
Ms A C Reeve, Chair
Ms E Storey, Vice Chair
Ms R G Hobbs
Ms J Tomsett
Ms C Morris
Ms J M Brown (appointed 30 April 2024}
Ms Anouk De Jonge Heath {appointed 30 April 2024)
Company registered
number
03167701
Charity registered
number
1053948
Registered office
The Change Project
CIO Chelmsford Voluntary Service, Burgess Well House, Coval Lane
Chelmsford
Essex
CM11FW
Chief executive officer
Lora Draper
Independent auditors
Griffin Chapman
Chartered Accountants
4 & 5, The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
C07 7QR
Page 1

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the Charitable
Company for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees,
report and a directors, report under company law. The Trustees confirm that the Annual report and financial
statements of the charitable company comply with the current statutory requirements, the requirements of the
charitable companYs goveming document and the provisions of the Stalement of Recommended Practice
ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The Change Portfolio's vision is to create lives free from domestic abuse.
The charity's mission is to address the behaviour of people who use abuse in any relationship and educate and
support them to achiave a life free of abuse through positive change.
The purpose of th8 charity is protect victims by educating perpetrators (people who use abuse) to bring about
behaviour change and to help people understand what domestic abuse is so that we reduce domestic abuse and
the effect it has in the community.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit= running a
charity {P82)'.
b. Our strategic objectives
Increasing the safety of victims of all ages.
Motivate abuserslperpetrators to recognise and change their behaviours.
Reduce the impact of domestic violence on future generations.
Educate professionals and the public about domestic violence.
2 million people in the UK suffer from domestic abuse every year. 1 in 3 women and 1 in 5 men. In Essex alone,
police revealed that a total of 24,456 domestic crimes happened across the county between 2022-2023. It is
estimated that 130,000 children live in domestic homes and 62 % of those children are al risk of being directly
harmed. These figures do not represent those cases that have not been reported to the police or are not involved
with statutory services.
Perpetrators can have multiple partners within their lifetime. The reasons for abusive behaviour are extensive.
Some may have come from abusive homes themselves and are repeating learnt behaviour. Trauma can play a
part in a person's thought process and actions. for olhers a sense of entitlemenl developed through home
influences or social conditioning can obfuscate their belief systems. Our aim is to break the cycle of abuse and to
engage perpetrators and to provide services that educate and challenge their behaviour to result in long term
sustained non abusive behaviour. We understand Ihe harm caused by domestic abuse lo viclims and children.
Our aim is to provide support to the partners and children of the perpetrators. Additionally we provide
counselling to couples, families and young people slruggling with relationships or emotional wellbeing.
Our services are designed to engage perpetrators and work with them to understand their behaviour and to gain
skills in order to manage and amend their responses long term.
Success is monilored through risk assessments and victim voice. The SafeLives Severity of Abuse model is
used to collect victim feedback. The Severity of Abuse (SOA) Outcome Measures are informed by the lived
Page 2

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (continued)
experience of victims to measure the impact of perpetrator interventions. The Integrated Support Service works
with victims to provide input and feedback to perpetrator practitioners. The direct work with perpetrators is
evidenced and measured using a Treatment Viability Assessment which records the changes in beliefs and
communication observed by the facilitators and practitioners.
c. Main activlties undertaken to further the Charitable Company's purposes for the public benefit
The Change Hub continued in Essex and Norfolk funded by the Essex and Norfolk OPFCC. The Norfolk project
focuses, on high risk referrals via the Domestic Abuse Partnership Approach team. The Essex team work with
more varied cohort of perpetrators. Self- referrals looking to amend their behaviour. Referrals from statutory
services and voluntary services and higher risk service users identified via MARAC. The service offers a range
of interventions that are matched to the individual's circumstances and level of risk (ascertained by a face-to-
face meeting with the client). The interventions are delivered in a one-to-one setting in local community venues.
All victimlsurvivors of our services are referred into the Integrated Support Service to ensure that
victimslpartners are supported throughout our perpetrator interventions. As an extension of the Change Hub the
Essex OFPCC utilised Home Office Funding to pilot the Specialist Intervention Service, that focuses on staking
behaviours. Our 27 week Domestic Abuse Perpetrator Programme and associated Integrated Support Service
has continued in Colchester fijnded by the Colchester Borough Council Shared Prosperity Fund.
The following services are carried out with a view to fijlfilling our strategic objectives and addressing abusive
behaviour directly alongside services to support the victims and families of perpetrators:
Integrated Support Service for victims - The Integrated Support Service provides support to the partners and ex
partners of those accessing all of the charities perpetrator seNices.
Domestic Violence Perpetrator Programme (DVPP) The provision of the Respect Accredited DVPP 27 week
programme group work and 18 week one to one programme for perpetrators.
The Change Hub - The Change Hub offers a range of one to one interventions that are matched to the individual
perpetrator's circumstances and level of risk.
Specialist Intervention Service - The Specialist Intervention Service focuses on addressing stalking behaviours.
Change Plus - Change Plus is a 12 hour domestic abuse awareness course. It is an earfy intervention project
that helps to enable perpetrators of abuse to recognise their behaviour is abusive.
Centre Counselling We provide counselling to promote well being by enabling people to have healthy
relationships in families, bel￿een couples, and therapy for individuals. We address sexual problems through
counselling and psychosexual therapy covering all aspects of intimate relationships.
Community Counselling We deliver counselling to families. children and young people in schools, who are
struggling with a range of difficulties that are impacting iheir emotional wellbeing.
Publlc beneflt
Charity Trustees are aware of the Charity Commission Public Benefit Guidance September 2013. This is
included as part of their induction and AGM.
Page 3

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strategic report
Achievements and performance
a. Main achievements of the Charitable Company
We are the only accredited British Association of Counselling and Psychotherapy and Respect Accredited
organisation in the UK. The qualifications and experience that is required of our staff, denotes that we have a
small volunteer base. There are currently two trainee counsellors who offer voluntary hours. This has enabled us
to be able to offer our counselling service to the victimlsurvivors of our services.Clients are consulted in advance
and advised that the counsellors are still in training. Once they have completed their training, the counsellors will
continue to work with us.
Page 4

THE CHANGE PORTFOLIO
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strategic report (continued)
Achievements and perfomiance (conttnued)
b. Review of activities
Our core services focus on protecting victims and children through providing perpetrator work. The Domestic
Violence Perpetrator Programme continues to achieve evidenced outcomes. Additionally The Change Hub in
Essex and Norfolk, provided further successful outcomes. Norfolk was a new contract and Essex was
commissioned for a further year. Our longer tenn objective is to expand The Change Hub to become the point of
contact for all of our services. Specifically to expand the victim and children services to include therapy alongside
the existing support.
There are a number of significant events that have affected financial performance and the financial position
during the period, including:
The year 2023124 proved to be another exciting year of change and innovation. The commissioning of projects
over short periods of time continues to remain a challenge for the voluntary sector and our charity. Funds for 6-
12 months are welcomed opportunilies to trial pilots but do not help to sustain our core work. In April 2023 the
DVPO and Thurrock Outreach projects came to an end. The DVPO project, enabled the referral of clients issued
with a Domestic Violence Protection Order (DVPO) to receive an intervention. Under the DVPO scheme, police
and magistrates have the power to ban a domestic Violen￿ perpetrator from returning to their home or having
contact with the victim for up to 28 days in the immediate aftermath of a domestic violence incident. The
commissioning for Thurrock was to provide an Outreach worker for early intervention work.
The impact on clients following these projects ending, was alleviated by our successful bid to the OPFCC to
expand the Change Hub to cover pan-Essex. This made it possible to integrate the work that had been taking
place into the expanded service.
In August, following a successful applicats'on to the Essex OFPCC las part of the fomial Home Office grant), we
were awarded a new contract, to provide the first inte￿entIOn in Essex to address stslking behaviours. The
Specialist Intervention Pilot aims to work directly and intensively with Stalking Protection Order (SPO) nominals
to change their behaviour and reduce risk for victims and survivors of stalking.
Following the MOJ decision to cease the delivery of DAPPS nationwde from 1st April 2022, regretfully there has
been no further progression from the MOJ with regards to a decision on the provision of behaviour change work
within the family court setting. We are unable to take cases direct from the courts or from private referrals if they
are in the court system as this is a direct breach of our accreditation standards. We are pleased to confirm that
we have managed lo maintain the Domestic Abuse Prevention Programme Servi￿ via local funding and spot
purchasing via children's social care and individuals.
Our therapeutic services remain key and we have extended our remit to include Cognitive Behavioural Therapy.
The Change Project's definitive achievement this year was the expansion of the Change Hub to cover the whole
of Essex. We were able to expand our team to be able to efficiently cover the county and expand our offer of
help. This enabled us to reach more rural and harder to reach communities.
The addition of the Specialist Intervention Service is enabling us to become a leader in new practice, as we are
the first in the region and one of only a few in the UK, carrying out this work.
The Caring Dads program was specifically designed from the premise that violence against women and violence
against children are intricately intertwined, and that these issues both can and should be addressed
together. The parenting programme is designed to enable men to improve their fathering skills and take
responsibility for their children's welfare and safety- It is primarily to develop the fathe¢s relationship with the
Page 5

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strategic report (continued)
Achievements and performance {continued>
child and mother to reduce the impact on both. It is also to encourage child centred behaviour, reduce conflict in
family life and enable men to become better fathers. The pilot completed in March provided an altemative for
families and was enhanced by being led by experienced perpetrator facilitators. The pilot has been evaluated by
the University of Essex. Feedback from the Fathers has been positive, with accounts that they have put what
they have learned in to practice with their children, and the mothers of their children.
Two professionals working with the families reported:
"It seems that the programme was very well structured and that Dad gained a lot of insight into how his parenting
may have impacted his son. The workbook was useful for him to refer back to and the feedback he received was
invaluable.
"This programme has certainly made a difference in the case l am holding."
This year Respect updaled their accreditation standards and we were required to partake in full accreditation.
We were delighted to receive our new accreditation certificate in March 2024.
We ended the year on high. having been nominated for the High Sheriffs Award and were awarded the
prestigious Essex Police Cup.
The Integrated Support SeNice worked with 189 victims over the year. Impacting 1.363 children.
Over the course of the year, the new Change Hub service in Norfolk processed 259 referrals. The Essex Change
Hub processed 406 referrals. We were able to make safe contact with approximately 300/0 of those referred. The
Severity of Abuse Measures use the lived experience of (exlpartnerslvictims to measure the impact of
perpetrator interventions. Victim outcomes reported as follows:
Type °/0
Physical 960/0 reduction
Sexual . 1 OOO/o
Harassment 49 lo reduction
Jealousy- 730/0 reduction
Please note that 96/0 reduction does not mean that 40/0 are still experiencing physical abuse. It may mean 40/0
did not initially report physical abuse, and therefore could not report a reduction.
The Joined up work be￿een the Integrated Support Service and Change Hub Domestic Violence Awareness
Practitioners continues to prove to be successful and essents'al in nsk assessment and safeguarding.
Our aim is that the Change Hub will become a basis for funding applications going forward. with a goal to build
the therapeutic services that will be available to perpetrators and victims.
The DAPP Group attendance was lower than existing years due to the changes to the family court provision.
Clients maintained their engagement and SOA outcomes remained high.
Type °/0
Physical - 970/tk reduction
Sexual 680/0 reduction
Harassment - 85°/o reduction
Jealousy - 940/0 reduction
Please note that 97/0 reduction does not mean that 3°/0 are still experiencing physical abuse. It may mean 3 %
did not initially report physical abuse, and therefore could not ￿port a reduction.
Page 6

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strategic report (continued)
Achievements and performance (continued)
Counselling services:
The Gilberd School
Roding Valley High School
Moulsham Junior School
We are currently delivering individual counselling, couples counselling, youth counselling, family counselling and
psychosexual therapy. From March 2023 to March 2024 we saw a total of 38 clients (with a couple or family
being counted as 1 client) through our centres and online. We delivered 1.049 hours of counselling within
schools supporting families and young people. Through the help of our volunteer counsellors we are able to
provido a counselling service to the victims of the families refe￿ed.
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Company
has adequate resources to continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements. Further details regarding the
adoption of the going concem basis can be found in the accounting policies.
b. Reserves policy
Reserves are defined as resources not immediately required to finance operations and which can be freely
deployed by the trustees to fund future expenditure if required. The charity defines its reserves as the total of its
Unrestricted Funds i.e. those assets which are not reserved for fijture specific expendilure or restricted as to
their future use. Our policy was to maintain a range between a minimum of £100,000 and a maximum sufficient
to continue operating for 12 months (£750,000).
Page 7

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
c. Principal Tisks and uncertainties
The Trustees have a duty lo identify and review the risks to which the charitable company is exposed and to
ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The key risks and the mitigating steps taken from the risk register are provided to the External Auditors for
review in connection with their audit of the consolidated financial statements.
Risk: Funding 1000/0 contract dependent. Mitlgation: Diversity and growing revenue streams.
Risk.. Short contracts for 1-2 years. Mitigation: Continue to build relationships with OPFCC'S. Continue to
support'Respect in Call for Action to government to provide longer funding.
Risk.. National providers pitching in our spacelcompetitors. Mitigatlon: Differentiate through our brand.
Risk.. Worsening economic climate. Mitigatlon: Sustain reserves by following the reserves policy in place.
Risk: Losing key staff. Mitigation: Invest in team building and training for stsff.
Rlsk.. A further pandemic. Mitigation- Frontline staff trained to work online, should circumstances dictate that it
is required.
d. Principal fundlng
DAPP (Colchester SPF) £58,000
Change Hub (Essex OPPC) £369,543
Stalking (Essex OPCCIHO) £140,572
Perp Prog - DAPPA (Norfolk OPCC) - £169,675
e. Review of flnancial position at the end of the reporting period
We are pleased to report a small decrease in Total Funds, down £6.952 to £549,516 for the year ended 31st
March 2024. This deficit was considerably smaller than originally forecast al the beginning of the financial year
when we expected to incur a £100,000 downtum. Total income was stable at £823,094 la decrease of 0.8°/0
whilst costs increased much less than forecast from £781,515 to £830.046 (+6.2 % )- The increase in overall
costs was primarily due to a modest rise in staff costs from £667,325 to £712.538, although not as significanl as
originally forecast, hence the variance to the budgeted deficit.
Unrestricted Reserves have decreased slightly to £542,516, but are equal to 8 months annual expenditure,
wholly consistenl with the minimum and maximum requirements stipulated in our Reserves Policy.
For Ihe financial year 202412025 Ihe Charity has forecast to use £132,000 of reserves to create, develop and
pilot new services. We expect this deficit to be mitigated by the employment of a fund-raising manager although
only the salary costs have been covered in our initial income projections.
Page 8

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
a. Constitution
The Charity is a registered charity (charity number 1053948) and is governed by the Articles of Association dated
02 April 2021. The Charity is controlled by its governing document, a deed of trust, and constitutes a limited
company, limited by guarantee, as defined by the Companies Act 2006 (company number 03167701 England
and Wales). The Charity consequently does not have share capital. Each of the members is liable to contribute
an amount not exceeding £1 towards the assets of the company in the event of liquidation.
b. Methods of appointment or election of Trustees
The management of the Charitable Company is the responsibility of the Trustees who are elected and co-opled
under the terms of the Trust deed.
c. Organlsatlonal structure and decision-making policies
The Board of Trustees is the Chariws Management Committee (MC), and is responsible overall for strategy,
policies, financial accountability and the legal compliance of the organisation. The Board can have up lo 11
members. The MC meet at least quarterly and has the power to create sub-committees to meel more regularly
when the need arises.
The Chief Executive is appointed by the Trustees to manage the day to day operations of the Charity. To
facilitate operations, the Chief Executive has delegated authority within the terms of delegation approved by the
Trustees, for operational matters including finance, employment and delivery of services.
d. Pollcles adopted for the induction and training of Trustees
As a company lirnited by guarantee, trustees are appointed in accordance with the Articles of Association by
unanimous agreement of the Board of Trustees. Officers of the Board are appointed at the AGM and the length
of tenure is two years after which they must be re-elected at the next AGM. The trustees also have the power to
co-opt further mernbers to fill vacancies during the year. where necessary.
Financial risk management
The Trustees have assessed the major risks to which the Charitable Company is exposed, in particular those
related to the operations and finances of the Charitable Company, and are satisfied that systems and procedures
are in place to mitigate exposure to the major risks.
Page 9

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Plans for future periods
Looking ahead to the coming financial year, the board remains committed to strategically utilising our reserves lo
invest in the development of new services. Our Caring Dads program has been gaining traction, generating
increased interest and engagement. Additionally, we are designing innovative projects aimed at raising youth
awareness of domestic abuse and unhealthy relationships. specifically targeting audiences outside the tradilional
curriculum, including universities and football clubs. In line with our growth strategy, we will also be expanding
our training provision for professionals. Furthermore we will continue to actively pursue domestic abuse related
tenders from local govemment to further our impact in the community.
We have identified gaps in need and we are developing our services to meet the requirements of our
communities
To expand the provision of Change Hub to cover further locations
To expand our provision of counselling and trauma therapies to all Servi￿ users
statement of Trustees. responsibilities
The Trustees (who are also the directors of the Charitable Company for the purposes of company law) are
responsible for preparing the Trustees, report including the Strategic report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Charitable Company and of its incoming resources and application of resources,
including its income and expenditure. for that period. In preparing these financial statements, the Trustees are
required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 102);
make judgments and accounting estimates that are reasonable and pnjdent:
state whether applicable UK Accounting Standards (FRS 102} have been followed, subject to any material
departures disclosed and explained in the financial statements.
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain
the Charitable Companys transactions and disclose with reasonable accuracy at any time the financial position
of the Charitable Company and enable them to ensure that Ihe financial statements comply with the Companies
Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularilies.
Dls¢losure of information to audltors
Each of the persons who are Trustees at the time when this Trustees. report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit infomation of which Ihe charitls auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
Page 10

THE CHANGE PORTFOLIO
(A company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Auditors
The auditors, Griffin Chapman, have indicated their willingness to continue in office. The designated Trustees will
propose a motion reappointing the auditors at a meeting of the Trustees.
Approved
by
29 Ocknkn 201
order
members
the
board
of
and signed on their behalf by:
Trustees
on
Page11

THE CHANGE PORTFOLIO
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CHANGE PORTFOLIO
Opinion
We have audited the financial statements of The Change Portfolio (the 'charitable companl) for the year endad
31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash
flows and the related notes. including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial Statements:
give a true and fair view of the state of the charitable companrfs affairs as at 31 March 2024 and of its
incoming resources and application of resources. including its income and expenditure for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK>> and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial siatements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial stalements, we have concluded that the Trustees. 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 Ihat, individually or collectively, may cast significant doubt on the charitable companys ability to
continue as a going concem for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Page 12

THE CHANGE PORTFOLIO
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CHANGE PORTFOLIO (CONTINUED>
Other information
The other information comprises the information included in the Annual report other than the financial statements
and our Auditors. report thereon. The Trustees are responsible for the other information contained within the
Annual report. 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 fomi of assurance conclusion thereon. Our
responsibility is to read the other infonnation and. in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identrfy such material inconsistencies or apparent material
misstatements, we are required to detemine 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.
Oplnion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, report including the Strategic report for the financial year for which
the financial statements are prepared is consistent with the financial statements.
the Trustees, report and the Strategic report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees. report including the Strategic
report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have nol been kept. or returns adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement Wtth the accounting records and retums,. or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing the Trustees, report.
Page 13

THE CHANGE PORTFOLIO
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CHANGE PORTFOLIO (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 charitable companvs ability
to continue as a going concern. disclosing, as applicable, matters related to going concem and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic altemative but to do so.
Auditors. responsibilities for the audlt of the financial statements
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 emr, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conductod in
accordance with ISAS (UK) will always detect a material misstatement when tt exists. Misstatements can arise
from fraud or e￿or and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities.
including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is
detailed below..
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to detecting the risks of material misstatement of irregularities. including fraud and non-
compliance with laws and regulations. were..
Identifying and assessing the risk of material misstatement by:
the engagement partner ensured the engagement team had the necessary skills and knowledge to identify
non-compliance with applicable laws and regulations.,
identifying the laws and regulations applicable to the charity from discussions with management.,
identifying the laws and regulations that are applicable to the charity and focused on those laws and
regulations that had a direct effect on the financial statements, which include= Companies Act 2006,
Charities Act 2011 and UK financial reporting standards as issued by the Financial Reporting Council,.
assessing the level of compliance by the company of the laws and regulations stated above through making
enquiries with management and reviewing any legal correspondence-
assessing the management's own identification processes and assessment of risks, including whether they
have knowledge of any actual, suspected or alleged fraud- and
consider the internal controls in place to mitigate the risks of fraud and non-compliance with laws and
regulations.
Work completed to address risk of fraud through management bias and override of controls
evaluated the appropriateness of accounting polices selected and reviewed all accounting estimates to
identify any potential management bias.,
tested joumal entries to identify unusual transactions.. and
Page 14

THE CHANGE PORTFOLIO
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CHANGE PORTFOLIO (CONTINUED)
investigated the rationale behind any significant or unusual journal entries.
Work completed to address risk of non-compliance with laws and regulations
obtsined an understanding of the legal and regulalory framework in which the charity would need to comply.
reviewed minutes of meetings held by those charged with governance to identify any non-compliance-
enquired with management of any actual or potential litigation and claims- and
reviewed legal and professional costs in the year, and any correspondence with 18gal advisors, to identify
any issues with non-compliance.
Our audit procedures were designed to respond to risks of material misststement in the financial statements.
A further description of our responsibilities for the audit of the financial stalements is located on the Financial
Reporting Council's website at: www.frc.or
.uk]auditorsres
nsibilities. This description forms part of our
Auditors, report.
Use of our report
This report is made solely to the charitable CoMpan￿S members. as a body, in accordan￿ with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to Ihem in an Auditors, report and for no other
purpose. To the fullest extent permitted by law. we do not ac￿pt or assume responsibility to anyone other than
the charitable company and its members, as a body. for our audit work. for this report, or for the opinions we
have formed.
Daniel Aldworth (Senior statutory auditor)
for and on behalf of
Griffin Chapman
Chartered Accountants
Statutory Auditors
4 & 5, The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
C07 7QR
Date:
7 NovvknT 202Lfr
Page 15

THE CHANGE PORTFOLIO
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Restricted Unrestricted
fvnds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities..
Family counselling
Youth counselling
DV prevention
Training and education
Investment income
7,000
2.792
9,792
13,774
7.825
31,204
190.167
2.075
13.192
724
7,825
31,204
758.282
2,075
13,192
724
518,294
34,580
257,859
568,115
5,045
Other income
Total income
575,115
247,979
823,094
829, 552
Expendlture on:
Raising funds
Charitsble activities
450
568.115
261,931
830,046
781,065
Total expenditure
568,115
261,931
830,046
781,515
Net movement in funds
7,000
{13.952)
(6,952)
48,037
Reconciliation of funds:
Total funds brought forward
Net movement in funds
556,468
{13,952)
556,468
{6.952)
508,431
48,037
7.000
Total funds carried forward
7,000
542,516
549,516
556,468
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 19 to 32 form part of these financial statements.
Page 16

THE CHANGE PORTFOLIO
(A company Ilmited by guarantee)
REGISTERED NUMBER: 03167701
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
15,585
12,036
15,585
12,036
Current assets
Debtors
12
90,328
484,724
123,896
489,051
Cash at bank and in hand
575,052
612,947
Creditors- amounts falling due within one
year
13
(41.121}
(68,515)
Net current assets
533,931
544,432
Total assets less current liabilities
549,516
556,468
Net assets excluding penslon assel
549,516
556,468
Total net assets
549,516
556,468
Charlty funds
Restricted funds
14
7,000
542,516
Unrestricted funds
14
556,468
Total funds
549,516
556, 468
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 have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial
statements were approved
and authorised for issue by the Trustees
and signed on their behalf by:
on
29 2ol+
The notes on pages 19 to 32 fom part of these financial statements.
Page 17

THE CHANGE PORTFOLIO
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
{4.924)
(94.396)
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
(12,415)
13,192
(12,109)
5,045
Net cash provided byl(used in) investing activities
777
(7,064)
Cash flows from financing activities
Interest paid
{180)
(231)
Net cash used in financing actlvities
{180)
(2311
Change In cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(4,327) (101,691
489,051
590, 742
Cash and cash equlvalents at the end of the year
484,724
489,051
The notes on pages 19 to 32 fomi part of these financial statements
Page 18

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The charity is a private company limited by guarantee and registered in England & Wales. The members
of the company are the Trustees named on page 1.
Accounting policies
2.1 Basis of preparatlon of financlal statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 102)
Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Change Portfolio meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othe￿iSe stated in the
relevant accounting policy.
2.2 Going concern
The trustees consider thal there are no material uncertainties about the charitable companys ability
to continue as a going concern.
2.3 Income
Income from grants and donations are accounted for when the trustees are certain it will be received.
Income from counselling ServI￿S is accounted for on an accruals basis. All income is treated as
unrestricted unless a specific purpose for that income is directed by the donor.
2.4 Expendilure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistenl with
the use of resources determined in proportion to Ihe value of income. Central staff costs are
allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's
use.
Expenditure on raising funds includes all expenditure incurred by the Charitable Company to raise
funds for its charitable purposes and includes costs of all fundraising activities events and non-
charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charitable Companws objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 19

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released lo
the Statement of financial activities over the expected useful lives of the assets concerned. Other
grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its inlended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Plant and machinery
330/0 Straight line
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liablllties and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a Iransfer of economic benefit will be required in settlement. and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the CharFtable Company anticipates tt will pay to settle
the debt or the amount it has received as advanced payments for the goods or services it must
provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financlal instruments
The Charitable Company only has financial assets and financial liabilities of a kind that qualify as
basic financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
Page 20

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.11 Pensions
The Charitsble Company operates a defined contribution pension scheme and the pension charge
represents the amounts payable by the Charitable Company to the fund in respect of the year.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charitable Company and which have nol been
designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charitable Company for particular purposes. The costs of
raising and administering such funds are charged against Ihe specific fund. The aim and use of each
restricted fund is set out in the notes to the financial stalements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacles
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
2,792
2,792
7,000
8,090
5,000
684
Grants
Government grants
7,000
7,000
2,792
9,792
13,774
Total 2023
1, 000
12,774
13,774
Page 21

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from charitable activities
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Income from charitable activities - Family
Counselling
Income from charitable activities - Youth
Counselling
Income from charitable activities - DV
Prevention
Income from charitable activities - Training
and DV Prevention
7,825
7,825
518,294
31,204
31,204
34,580
568,115
190,167
758,282
257,859
2,075
2,075
568,115
231,271
799,386
810,733
Total 2023
180, 000
630, 733
810,733
Page 22

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Interest receivable
13,192
13,192
5,045
Total 2023
5,045
5,045
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Charitable activities
568,115
261,931
830,046
781,065
Total 2023
181,(M?
600,065
781,065
Analysis of expenditure by activitles
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Charitable activities
736,105
93,941
830,046
781,065
Total 2023
704,553
76,512
781,065
Analysis of direct costs
Page 23

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
Total
funds
2024
Total
ftinds
2023
Staff costs
Training
Subcontracted supervision
Accreditation and membership
Recruitment
Rent and rates
Premises expenses
682,725
10,077
21,234
2,074
6,445
13,525
25
641,921
5,422
13,616
7.299
12.309
23,902
84
736,105
704,553
Wages and training costs are shown net of access to work grants lotalling £10,296.
Page 24

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities (continued)
Analysis of support costs
Total
funds
2024
Total
funds
2023
Staff costs
29,813
197
25,404
211
Travel and expenses
Insurance
Telephone
Printing and stationery
Sundry expenses
Legal and professional fees
Computer and software costs
Depreciation
Bank interest and charges
Governance costs
7.536
6,594
2,100
1,626
15,313
2,735
8,866
180
8,063
11,707
2,261
2,518
26
3,582
4,287
231
18,222
18,981
93,941
76,512
Auditors, remuneration
2024
2023
Fees payable to the Charitable Companys auditor for the audit of the
Charitable Companrfs annual accounts
5,700
4, 750
Staff Costs
2024
2023
Wages and salaries
Social security costs
Operating costs of defined benefit pension schemes
646,446
52,146
13,946
607,002
48,470
11,853
712,538
667,325
Page 25

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Staff costs (continued)
The average number of persons employed by the Charitable Company during the year was as follows..
2024
No.
2023
No.
Employees
34
39
No employee received remuneration amounting to more than £60.000 in either year.
The total amount of employee benefits (including employer pension contributions) received by key
management personnel for their services to the charity was £180,288 (2023 - £164,036}
10.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
11.
Tangible fixed assets
Plant and
machinery
Cosl or valuation
At 1 April 2023
Additions
Disposals
22,478
12,415
(1,926)
At 31 March 2024
32,967
Depreciation
At 1 April 2023
Charge for the year
On disposals
10,442
8,180
{1,240)
At 31 March 2024
17,382
Page 26

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Tangible fixed assets (continued)
Plant and
machinery
Net book value
At 31 March 2024
15,585
At 31 March 2023
12,036
12.
Debtors
2024
2023
Due wlthln one year
Trade debtors
39,857
50,471
43,427
80,469
Prepaymenls and accrued income
90,328
123,896
13.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
12,237
16,173
3,401
9,310
7.570
28, 103
2,871
29,971
41,121
68,515
Page 27

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Statement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Unrestricted funds
Designated fvnds
Contingency funds
Extended DAPP provision
48.500
15,500
9.500
(15.500)
58,000
64.000
(6.000)
58,000
General funds
General Funds - all funds
492,468
247,979
{261,931}
6,000
484,516
Total Unrestricted funds
556,468
247.979
(261,931}
542,516
Restricted funds
Police, Fire and Crime
Commissioner for Essex - The
Change Hub
Police, Fire and Crime
Commissioner for Essex-
Specialist Intervention Service
Colchester City Council -
Domestic Abuse Perpetrator
Programme
Essex Community Foundation
369,543
(369,$43)
140,572
(140,572)
58,000
7.000
(58,000)
7,000
575,115
(568,115)
7,000
Total of funds
556,468
823.094
(830.046)
549,516
During the current and previous year amounts were transferred from general funds to designated funds.
These designated funds will be reviewed at the end of the subsequent year.
Page 28

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Statement of funds (continued)
Statement of funds - prior year
Balance af
31 March
2023
Balance at
1 Apnl 2022
Transfers
in/oul
Income Expenditure
Unrestrlcted funds
Deslgnated funds
Contingency ftjnds
Extended DAPP provision
48,500
15,500
48, 500
15.500
64,000
64,000
General funds
General Funds- all funds
508,431
648,552
(600,515)
(64.000)
492,468
Total Unrestricted funds
508,431
648,552
(600.515)
556.468
Restricted funds
Restricted Funds- all funds
1,000
(1.000)
Police, Fire and Crime
Commissioner for Essex- The
Change Hub
180.000
(180,000)
181.000
(181.000)
Total of funds
508,431
829, 552
(781.515)
556.468
Page 29

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15.
Summary of funds
Summary of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Designated funds
General funds
Restricted funds
64.000
492.468
(6,000)
6,000
58,000
484,516
7,000
247,979
575.115
(261,931)
{568.115)
556.468
823,094
(830,046)
549,516
Summary of funds - prior year
Balance al
31 March
2023
Balance at
1 Apnl 2022
Transfers
in/out
Income Expenditure
Designated funds
General funds
64. 000
(64,000)
64,000
492,468
508,431
648, 552
181,000
(600,515)
(181,000)
Restricted funds
508,431
829,552
(781,515)
556,468
16.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
15,585
568,052
141,121)
15,585
575,052
(41,1211
7,000
Total
7,000
542,516
549,516
Page 30

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
Unrestrictgd
funds
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
12,036
612,947
(68,515)
12,036
612,947
(68,515)
Total
556.468
556,468
17.
Reconciliation of net movement In funds to nel cash flow from operating activities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activities)
(6.952)
48,037
Adjustments for:
Depreciation charges
Loss on the sale of fixed assets
{Increaselldecrease in debtors
{Decrease)lincrease in creditors
Interest received
Interest paid
8,180
686
4,287
33,568
{27,394)
{13,192)
180
(91,938)
(49, 968)
(5.045)
231
Net cash used In operatlng actlvities
(4,924)
(94.396)
18.
Analysis of cash and cash equivalents
2024
2023
Cash at bank
484,724
489, 057
Total cash and cash equivalents
484,724
489,051
Page 31

THE CHANGE PORTFOLIO
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19.
Analysis of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
489,051
(4,327)
484,724
489,051
(4.327)
484,724
20.
Pension commitments
The charity operates a defined contribution scheme pension which is made available to all employees.
The charity contributions are treated as an expense and were £13,94612023 £11.853) and at the year
end £3,260 (2023 - £2,520) was outstanding.
21. Members, liability
Each member of the charitsble company undertakes to contribute to the assets of the company in the
event of it being wound up while helshe is a member, or within one year after helshe ceases to be a
member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before
helshe ceases to be a member.
22.
Related party transactions
The Charitable Company has not entered into any related party transaction during the year, nor are there
any outstanding balances owing between related parties and the Charitable Company at 31 March 2024.
Page 32