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2024-03-31-accounts

Charity registration number 1054622

Company registration number 03136727 (England and Wales)

VENUS WORKING CREATIVELY WITH YOUNG WOMEN

COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Emma Bush (Chair) Pat Reynolds (Vice Chair) Olubunmi Adefajo (Treasurer) Helen Marshall (Safeguarding) Emily Clark Helen Condran Barbara Dutton Jacqueline Marsh Secretary & Chief Executive Officer Susan Potts Charity number 1054622 Company number 03136727 Registered office The Venus Centre 215 Linacre Lane Bootle L20 6AD Auditor Mitchell Charlesworth (Audit) Limited Suite 5.1 Tempest 12 Tithebarn Street Liverpool L2 2DT Bankers HSBC Bank PLC 99-101 Lord Street Liverpool L2 6PG

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Trustees' report 1 - 10
Statement of trustees' responsibilities 11
Independent auditor's report 12 - 14
Statement of financial activities 15 - 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 38

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019).

Our Year at a Glance

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Charitable Objectives

As stated in our Memorandum and Articles of Association, “Venus aims to promote such charitable purposes as the Trustees shall, in their absolute discretion, think fit, including in particular but not so as to limit the generality of the foregoing”.

The advancement of education and the preservation and protection of health of those young women residing in the area of Sefton, particularly, but not exclusively, in matters relating to sexual health, The provision of facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the condition of life for the said women.

However, to reflect the changing nature of our work, we are awaiting a decision from The Charity Commission to change our Articles of Association to:

The advancement of equality, opportunity and education and the preservation, protection and improvement of mental and physical health and wellbeing of those residing in the United Kingdom.

The provision of facilities in the interests of social welfare with the object of improving and advocating for the conditions of life, housing and economic security, independence and enjoyment for the said people and communities.

The supply of non-judgemental services that are unreservedly and universally accessible, dedicated, safe, inclusive and respectful to all.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Venus Vision is to support the communities we serve to have fulfilling lives and to be resilient. Our vision is fulfilled through our Mission Statement: To work with women, children, young people and families in our community, recognising their choices, voices and opportunities to develop their potential.

We are a value led organisation and our work is delivered through our Value Framework:

Venus works across the Borough of Sefton and until April 2024 had a satellite hub in Halton Brook Family Centre, Runcorn. Our programmes are co-designed with our service users, ensuring our work is meeting their needs. In the Financial Year 1 April 2023 to 31 March 2024, our programmes included:

Delivering our aims, objectives, and legal purposes

The Venus Trustees support the delivery of our charitable aims and objectives through ongoing checks and balances and scrutiny of management information, progress reports and financial statements. We hold bi-monthly board meetings and have a number of board sub-groups including a regular finance subgroup meeting. The depth and breadth for our services are demonstrated in easy-to-understand infographics in Section 1.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Overview of Charitable Activity in Financial Year 2023 – 2024

Venus had a successful year during which we fulfilled all outputs and outcomes for the services we deliver as commissions on behalf of Public Sector organisations and for projects supported by trusts, foundations and donations.

Of particular note this year is the support we received from The National Lottery Community Fund via The Cost-ofLiving Fund. We were successful in a grant application which enabled us to provide additional Open Access Advice and Money Management sessions, distribute extra emergency food parcels, winter clothing, mobile phone data packs and energy/utility vouchers. The fund also helped us cover our increased core costs and overheads.

With support from the Merseyside Violence Reduction Partnership, we trialled two behaviour modification projects aimed at supporting young people who struggle to regulate their emotions. The interventions assisted anger management by providing therapeutic support alongside methods of positively channelling energies and emotions. Dfuse Active was delivered to two cohorts in a secondary school. The therapeutic element of the programme was delivered by Star Centre therapists, and we engaged a sports instructor to support the young people to use sports as means to regulate emotions. Dfuse Digital followed the same process but engaged young people whose passions were focussed on creativity. We engaged a film maker/animator to explore the use of creative technology as a means of expression and modulating mood.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

During June/July 2023, we delivered our 2nd pop-up Money Management Shop in Bootle Strand Shopping Centre. The project was sponsored by The Financial Planning Corporation. Over a 6-week period, 325 people were supported with debt advice, budgeting and completing financial statements, benefit checks, energy efficiency saving tips, and assistance to apply to the ‘Household Support Fund’. A wraparound wellbeing programme was delivered in partnership with local organisations. Events at the shop were covered by BBC Northwest and BBC Politics North.

With support from the Workers Educational Association and the European Skills Fund, we developed a Maths Skills training programme using household budgeting and debt management as the hook to engagement. 157 people undertook this programme which assisted them to improve their management and understanding of household finances.

We brought additionality to our regular International Coffee Morning through the LCR Cares Digital fund, which supported the development of digital skills for asylum seekers and refugees.

We dealt with a difficult time from January 2024 to March 2024 after Halton Council gave us 12 weeks’ notice of the discontinuation of our family support programme in Runcorn. This resulted in 2 staff redundancies and unfortunately the closure of our centre in Halton Brook. Alongside the Supporting Families commission, we delivered a Family Hubs programme, an International Coffee Morning, summer activities and an annual family residential. All of this programme was lost to the community when the underpinning Supporting Families Grant was removed.

The rise in children and young people experiencing mental health problems peaked in January 2022 causing an unprecedented waiting list at the Star Centre. Numbers reached way beyond our capacity, resulting in young people waiting up to 4 months for an assessment and 9 months for therapy. The manner in which referrals came to us from the Child and Adolescent Mental Health Service (CAMHS) had to be changed and in February 2023 we took the difficult but necessary decision to close referrals for 3 months. This hiatus assisted us to address our waiting list and to work with our commissioners and CAMHS to devise a system which ensured children and young people are seen within a Four Week Wait (NHS Guidelines). We agreed a monthly cap on referrals resulting in referrals being assessed within 4 weeks. Our waiting list is now stable and within our capacity.

Accommodation and space continue to be a challenge for our organisation. Our Resource Centre is very small, it does not accommodate our full staff complement, the layout of the building is wasteful and it hinders our ability to provide activities. Across 2023/2024 we conducted an exercise which explored empty or vacant spaces in Bootle, including looking at converting a former public house. However, we found options extremely limited. In November 2023 we met with Sefton Council’s planning department to discuss extending Venus Centre across wasted space within in our current footprint. We hope to take this plan forward in 2024/2025.

Achievements and Performance

We achieve our aims, objectives and legal purposes by delivering services through 4 pillars of work:

Housing and Resettlement:

Venus is a member of The Sefton Supported Housing Group (SSHG) who deliver significant elements of the Homelessness Strategy for Sefton by providing 140 units of supported accommodation. Venus manages 20 units which are safe spaces for rehabilitation from an episode of homelessness. Our service provides emotional and practical support, delivered through psychologically informed environments which ensure that mental health and wellbeing is at the forefront of our work.

We complete face-to-face assessments for Mainstay services (Sefton Council’s Homelessness Process) enabling homeless people to be assessed in their community. In the last year we completed 40 assessments of potential rough sleeping in the Bootle area.

In 2022 Venus was contracted to provide a caseload of 30 Floating Support tenancies. We are now in our second successful year of this service and have supported 65 people to have successful tenancies after periods of homelessness.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Venus is contracted by Sefton Council to provide 16 placements through a Rapid Rehousing Pathway (RRP). RRP is funded by the central government’s Rough Sleeper Initiative (RSI) to break down barriers to rehousing to the most complex cases through supported accommodation. RRP work ensures that clients have the correct property pool banding and access to support workers.

'Bacon Butty club' has been continued from our pilot programme with the support of the Albert Gubay Foundation. 30 men from the local homeless community are accessing this service ensuring they have a welcoming warm space, peer support, along with cooking skills, digital skills and job search opportunities.

International Coffee Morning is a drop-in advice service for refugee and asylum seekers. Across this year we had 250 attendances at this session. We augmented the service with support from LCR Cares.

Family Support:

Parent to Parent Volunteer Support Project, Halton

Our work in Halton included: Supporting Families, an early help programme for families referred to social care; Intensive Cleaning Education, in home support for families struggling to maintain good home conditions; women’s counselling; drop-in support groups; and support to refugees and asylum seekers through a drop-in service. Unfortunately, Halton Council decided not to outsource their Supporting Families programme from April 2024 resulting in the closure of our centre.

Step Together, Sefton

Step Together is an innovative programme for women whose children have been taken into care of the Local Authority. Originally funded via the Women and Girls Fund, National Lottery Community Fund, a scaled down programme through the Reaching Communities Fund was agreed for 3 years in 2022. We are in the second year of this grant and received 77 referrals for support with 40 women taking up the offer. 16 of these women gained increased contact with their children and 7 women had children returned to their care. In early 2024, we received support from the Rosa Fund to develop an education pack aimed at foster parents, maternity staff and social workers who actions and sensibilities can have a positive or negative impact on the experience of women in the process of losing their children. We will take this work forward in 2024/2025.

Strengthening Families Initiative, Sefton

This is a commissioned service we deliver on behalf of Sefton Council as part of their Early Help for Families programme. Our work involves developing a whole family support plan matched to the individual needs of each family member. In this financial year 67 families were referred to this service of which 32 families completed support plans.

Family Navigation Service

Family Navigation Service (formerly Triage) is a quick turnaround service, supporting families to avert crisis. We work with families on a 6-week programme of support, tackling their most acute problems. 125 families were referred to this service this year.

Hub Services:

Open Access

Our Open Access Service is a daily drop-in service for the local community. Community members can call in for a chat with a support worker who will address their immediate concerns. Open Access deals with a wide range of issues including housing advice and guidance, debt, mental health issues, food poverty and the provision of advocacy. This year we supported 816 people through this service, almost doubling the service from 2022/23.

Youth Justice Programme

For a number of years, we have delivered a programme of support to young people most likely to be involved/are involved in crime. We employed 2 Information, Advice and Guidance workers and 2 dedicated therapists. This programme is funded by the NHS and through Operation Stonehaven, an initiative to prevent County Lines involvement. Through these programmes we supported 30 young people. Also, this year we received funding from Merseyside Violence Reduction Partnership and Streetgames to develop two pilot programmes Dfuse Active and Dfuse Digital. Both programmes support emotional regulation in a group setting by offering young people therapeutic toolkits alongside activities which help to manage negative emotions. Our Youth Justice programme came to an end in March 2023.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Mental Health and Wellbeing:

Women’s Counselling

Venus hosted 18 trainee counsellors who attend local colleges and are in their final months of practice to qualify as therapists. We host a range of modalities such as integrative, person centred, and psychodynamic. This year 186 women were supported in Bootle and 30 women were supported in Halton.

The Star Centre

There Star Centre is our Mental Health service for children and young people (CYP). We deliver an NHS commissioned service, supporting over 600 young people yearly. We are part of the Sefton Increased Access to Talking Therapies Partnership. Through this partnership we have student placements funded by the NHS Recruit to Train scheme. This scheme is for qualified staff to retrain in additional modalities and is designed in increase the range of services available to children and young people in Sefton. In January 2023 we recruited 11 students to support Parenting, Systemic Family Practice, Learning Disability, Cognitive Behaviour Therapy, Interpersonal Psychotherapy and Children and Young People Wellbeing Practice.

Access Figures

This year there were 3,175 attended sessions. This figure includes arranged appointments, groups and open access/crisis drop in. 680 young people engaged with the service over the year. 466 young people had two or more meaningful contacts. This could be attending the open access drop-in, having an initial assessment appointment, receiving a check-in call or actually receiving therapeutic sessions. 249 children, young people or their families completed therapeutic intervention, attending all 8 sessions.

Referrals

The Star Centre re-opened to new referrals during May 2023 following a decision to pause the referrals due to unprecedented demand since January 2022. This pause allowed us to catch up with our waiting list and to make plans for re-opening with a cap on referrals.

Overall, the Star Centre received 533 referrals April 23 – March 24. Of these, 17% were assessed with increased risk levels and offered an expedited appointment within 4 weeks.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Waiting Lists

At the end of March 2024:

Financial review

We’ve had a successful year, achieving a balanced budget and the fortification of our reserves. We successfully negotiated an uplift to our contract with the Integrated Care Board (NHS) which brought stability to the offer at Star Centre. We were thankful to the Tudor Trust who allowed us to divert £50,000 of capital investment to our support programmes. And, to the National Lottery Community Fund for supporting us to broaden our services to vulnerable clients whilst assisting with increased overheads. We had the largest intake of studentships for Star Centre in January 2024 which has made a significant impact on our turnover this financial year and for the first 3 financial quarters of 2024/2025.

We’ve continued to bolster our programme through restricted funds from Trusts and Foundations. All of this funding assists us to respond to the needs of the community. This year almost one third of our turnover came from restricted grants.

As at 31 March 2024, the charity had reserves of £593,673 (2023: £479,112). Included within these reserves are £94,066 (2023: £134,950) of restricted funds (see note 19) and £231,148 (2023: £214,449) of designated funds (see note 20). Included in unrestricted funds are fixed assets totalling £75,374 (2023: £89,586). These funds can only be realised upon sale of these assets. The charity had free reserves of £268,459 as at 31 March 2024 (2023: £129,713).

Venus Reserves Policy

Our reserves policy is reviewed on an annual basis by our Trustees who agree the level of reserves Venus needs to accrue in the coming year. Trustees also agree the levels of designated funds (reserves we accrue for specific reasons, such as redundancies or special projects) and our unrestricted reserves (funds trustees can allocate within our charitable aims and objectives). Our current reserves policy is set at 3 to 6 months running costs. This includes funds held in a designated cessation fund which covers the costs of redundancy should we need to or decide to cease trading. Redundancy is set at the statutory minimum. This level of reserves has been maintained throughout the year.

Risk Management

The trustees have a risk management strategy that comprises:

This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank and active management of debtors and creditors balances to ensure sufficient working capital by the charity.

Attention has also been focused on non-financial risk arising from fire, health and safety of service users, staff and volunteers and each specific project and area of work. These risks are managed through regular assessment, with actions taken promptly to reduce any issues or 'near misses', having robust policies and procedures in place, and regular awareness training for staff working in operational areas. We work with Ellis Whittam, whom we have contracted to support us with Human Resources and Health and Safety functions.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

The charity is a company limited by guarantee, incorporated on 12 December 1995 and registered as a charity on 17 April 1996. The charity was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. The term '"the company" includes reference to the registered charity, where appropriate.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Emma Bush (Chair) Pat Reynolds (Vice Chair) Olubunmi Adefajo (Treasurer) Helen Marshall (Safeguarding) Emily Clark Helen Condran Barbara Dutton Cliodhna Judge (Resigned 5 September 2024) Jacqueline Marsh

Appointment of Trustees

As set out in the Articles of Association, the Trustees are elected by members of the charitable company attending the Annual General Meeting.

Organisation

The board of trustees administers the charity. The board normally meet every six weeks. When necessary and appropriate, the charity convenes sub-committees or task and finish groups to cover issues such as development, membership, finance and audit.

The Chief Executive is appointed by trustees to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance, employment and service delivery activity.

Trustee induction and training

New trustees undergo an induction to brief them on:

During the induction process, they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Pay policy for senior staff

The trustees consider that the board of trustees and the senior management team comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give their time freely and no trustee received remuneration in the year. Details of trustees expenses and related party transactions are disclosed in the accounts.

The pay of the senior staff is reviewed annually and normally increased in accordance with at least inflation. In view of the nature of the charity, the trustees benchmark against pay levels in other organisations of a similar size run on a voluntary basis. The remuneration benchmark is the mid-point of the range paid for similar roles adjusted for a weighting of up to 30% for any additional responsibilities.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Auditor

In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth (Audit) Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The trustees' report was approved by the Board of Trustees.

.............................. Emma Bush (Chair) Trustee

Date: .............................................

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Venus Working Creatively with Young Women for the purpose of company law, are responsible for preparing the Trustees' 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF VENUS WORKING CREATIVELY WITH YOUNG WOMEN

Opinion

We have audited the financial statements of Venus Working Creatively with Young Women (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF VENUS WORKING CREATIVELY WITH YOUNG WOMEN

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF VENUS WORKING CREATIVELY WITH YOUNG WOMEN

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions;

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance; and enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Louise Casey ACA (Senior Statutory Auditor)

for and on behalf of Mitchell Charlesworth (Audit) Limited

16 December 2024

.........................

Chartered Accountants Statutory Auditor

Suite 5.1 Tempest 12 Tithebarn Street Liverpool L2 2DT

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Current financial year
Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
13,919
-
Charitable activities
4
1,222,926
358,336
Investments
5
3,815
-
Other income
6
26,638
-
Total income
1,267,298
358,336
Expenditure on:
Charitable activities
7
1,132,653
378,420
Net income/(expenditure) before transfers
134,645
(20,084)
Gross transfers between funds
19
20,800
(20,800)
Net income/(expenditure) for the year/
Net movement in funds
155,445
(40,884)
Fund balances at 1 April 2023
344,162
134,950
Fund balances at 31 March 2024
499,607
94,066		 Total
2024
£
13,919
1,581,262
3,815
26,638
1,625,634
1,511,073
114,561
-
114,561
479,112
593,673		 Total
2023
£
20,262
1,470,048
857
27,116
1,518,283
1,723,559
(205,276)
-
(205,276)
684,388
479,112

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Prior financial year

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
20,262
-
Charitable activities
4
1,085,649
384,399
Investments
5
857
-
Other income
6
27,116
-
Total income
1,133,884
384,399
Expenditure on:
Charitable activities
7
1,326,543
397,016
Net income/(expenditure) before transfers
(192,659)
(12,617)
Gross transfers between funds
19
(42,713)
42,713
Net income/(expenditure) for the year/
Net movement in funds
(235,372)
30,096
Fund balances at 1 April 2022
579,534
104,854
Fund balances at 31 March 2023
344,162
134,950		 Total
2023
£
20,262
1,470,048
857
27,116
1,518,283
1,723,559
(205,276)
-
(205,276)
684,388
479,112

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 12 62,577 78,221
Tangible assets 13 12,797 11,365
75,374 89,586
Current assets
Debtors 15 174,036 209,656
Cash at bank and in hand 403,013 252,931
577,049 462,587
Creditors: amounts falling due within
one year 16 (58,750) (73,061)
Net current assets 518,299 389,526
Total assets less current liabilities 593,673 479,112
Income funds
Restricted funds 19 94,066 134,950
Unrestricted funds
Designated funds 20 231,148 214,449
General unrestricted funds 268,459 129,713
499,607 344,162
593,673 479,112

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. Emma Bush (Chair) Trustee

Company registration number 03136727

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
25
Investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
-
(7,429)
3,815		 £
153,696
(3,614)
-
150,082
252,931
403,013		 2023
£
£
(197,698)
(23,800)
(7,138)
857
(30,081)
-
(227,779)
480,710
252,931

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Venus Working Creatively with Young Women is a private company limited by guarantee incorporated in England and Wales. The registered office is The Venus Centre, 215 Linacre Lane, Bootle, L20 6AD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

All income and expenditure together with gains and losses are allocated to a specific charitable fund.

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Further details of designated funds, together with their purpose, are set out in note 20.

Restricted funds are donations which the donor has specified are to be used solely for particular areas of the charity's work or for specific projects being undertaken by the charity. Further details of restricted funds, together with their purpose, are set out in note 19.

1.4 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(continued)

1.5 Expenditure

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 under the following activity headings:

Family Support Housing Support Hub Services Mental Health and Youth Justice Core

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website and CRM Straight line basis over 5 years

The website is currently under construction and therefore not in use so no amortisation has been charged.

1.7 Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. The cost includes the original purchase price, costs directly attributable to bringing the asset into its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Plant and machinery and fixtures, fittings, tools and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write each asset off over its anticipated useful economic life. A full year's depreciation charge is charged in the year of acquisition and no depreciation is charged in the year of disposal.

Short Leasehold land and buildings Straight line basis over 5 years Fixtures and equipment Straight line basis over 4 years Motor vehicles Straight line basis over 4 years

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the charitable company and the cost can be measured reliably.

Repairs, maintenance and minor inspection costs are expenses as incurred.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(continued)

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The charity us exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

There were considered to be no critical accounting estimates or judgements applied in the preparation of these financial statements.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 13,919 20,262
Total 2023 £ 244,127 652,259 418,692 151,214 3,756 1,470,048 1,085,649 384,399 1,470,048
Total 2024 £ 288,241 664,466 447,702 180,700 153 1,581,262 1,222,926 358,336 1,581,262
Core 2024 £ 8,920 (509) 70,441 - 153 79,005 75,505 3,500 79,005
Hub Services
Mental Health		 and Youth Justice 2024
2024		 £
£		 -
279,321		 38,270
283,724		 172,253
68,649		 -
-		 -
-		 210,523
631,694		 47,442
580,048		 163,081
51,646		 210,523
631,694
Family
Housing		 Support
Support		 2024
2024		 £
£		 -
-		 235,750
107,231		 135,484
875		 -
180,700		 -
-		 371,234
288,806		 232,000
287,931		 139,234
875		 371,234
288,806
Charitable activities Traineeships and Secondments Commissioned Services Performance related grants Housing Benefits Other income Analysis by fund Unrestricted funds Restricted funds
4

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

(continued)

For the year ended 31 March 2023

Traineeships and
Secondments
Commissioned Services
Performance related grants
Housing Benefits
Other income
Analysis by fund
Unrestricted funds
Restricted funds
5
Investments
Interest receivable
6
Other income
Insurance claims		 Family
Support		 Housing
Support
Hub Services
Mental Health
and Youth
Justice
Core
Total
2023
£
£
£
£
£
-
-
239,437
4,690
244,127
145,006
8,600
300,369
4,183
652,259
7,490
90,549
177,737
30,518
418,692
151,214
-
-
-
151,214
538
-
-
3,218
3,756
304,248
99,149
717,543
42,609
1,470,048
230,643
15,381
606,952
42,609
1,085,649
73,605
83,768
110,591
-
384,399
304,248
99,149
717,543
42,609
1,470,048
Unrestricted Unrestricted
funds
funds
2024
2023
£
£
3,815
857
Unrestricted Unrestricted
funds
funds
2024
2023
£
£
26,638
27,116		 Total
2023
£
244,127
652,259
418,692
151,214
3,756
£
-
194,101
112,398
-
-
306,499
190,064
116,435
306,499
1,470,048
1,085,649
384,399
1,470,048
Total 2023 £ 1,357,860 6,561 50,437 177,349 58,936 295 23,499 7,831 1,682,768 40,791 1,723,559 1,326,543 397,016 1,723,559
Total 2024 £ 1,163,482 21,640 63,567 118,822 73,329 2,874 24,151 897 1,468,762 42,311 1,511,073 1,132,653 378,420 1,511,073
Core 2024 £ 252,744 21,640 5,378 67,961 - 2,874 10,459 897 361,953 24,171 386,124 371,138 14,986 386,124
Family
Housing
Hub
Mental		 Support
Support
Services
Health and		 Youth Justice 2024
2024
2024
2024		 £
£
£
£		 210,835
153,026
108,681
438,196		 -
-
-
-		 11,675
3,232
40,565
2,717		 2,391
7,843
3,781
36,846		 -
73,329
-
-		 -
-
-
-		 4,972
1,448
1,646
5,626		 -
-
-
-		 229,873
238,878
154,673
483,385		 3,275
566
5,495
8,804		 233,148
239,444
160,168
492,189		 110,629
226,350
5,509
419,027		 122,519
13,094
154,659
73,162		 233,148
239,444
160,168
492,189
Charitable activities Salary costs Depreciation and impairment Provisions for service users Overheads Rent Other Other staff costs Bad debts Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds
7

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

(continued)

For the year ended 31 March 2023

Staff costs
Depreciation and
impairment
Provisions for service users
Overheads
Rent
Other
Other staff costs
Bad debts
Share of governance costs
(see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 Family
Support		 Housing
Support		 Hub
Services
Mental
Health and
Youth
Justice
£
£
106,870
569,486
-
-
26,875
6,706
4,384
55,847
-
-
-
-
692
3,046
-
-
138,821
635,085
13
2,615
138,834
637,700
12,937
528,645
125,897
109,055
138,834
637,700		 Core
£
237,043
6,561
5,244
73,749
-
240
15,077
7,831
345,745
37,434
383,179
368,052
15,127
383,179		 Total
2023
£
1,357,860
6,561
50,437
177,349
58,936
295
23,499
7,831
£
277,838
-
9,958
5,460
-
77
3,429
-
296,762
573
297,335
210,458
86,877
297,335		 £
166,623
-
1,654
37,909
58,936
(22)
1,255
-
266,355
156
266,511
206,451
60,060
266,511
1,682,768
40,791
1,723,559
1,326,543
397,016
1,723,559

8 Support costs

Support costs
Audit fees
Accountancy
Legal and professional
Governance costs
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
-
6,750
-
4,873
-
30,491
-
197
-
42,311
-
42,311		 2024
£
6,750
4,873
30,491
197
42,311
42,311		 2023
£
6,355
4,745
29,228
463
40,791
40,791

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

9 Auditor's remuneration

Fees payable to the charity's auditor and associates:
Audit of the charity's annual accounts
Non-audit services
All other non-audit services		 2024
£
6,750
4,873		 2023
£
6,355
4,745

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

Administration and finance
Management
Support
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000		 2024
Number
11
8
34
53
2024
£
1,050,892
83,232
29,358
1,163,482
2024
Number
1		 2023
Number
7
5
45
57
2023
£
1,223,970
91,893
41,997
1,357,860
2023
Number
1

Contributions totalling £1,707 (2023: £1,422) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

12 Intangible fixed assets

Website
Cost
At 1 April 2023 and 31 March 2024
Amortisation and impairment
At 1 April 2023
Amortisation charged for the year
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023		 and CRM
£
78,221
-
15,644
15,644
62,577
78,221

13 Tangible fixed assets

Short
Leasehold
land and
buildings
Fixtures and
equipment
Motor vehicles
£
£
£
Cost
At 1 April 2023
60,271
35,297
10,418
Additions
-
7,429
-
At 31 March 2024
60,271
42,726
10,418
Depreciation and impairment
At 1 April 2023
55,173
29,032
10,418
Depreciation charged in the year
1,699
4,296
-
At 31 March 2024
56,872
33,328
10,418
Carrying amount
At 31 March 2024
3,399
9,398
-
At 31 March 2023
5,099
6,266
-
14
Financial instruments
2024
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
568,551
Carrying amount of financial liabilities
Measured at amortised cost
58,377		 Total
£
105,986
7,429
113,415
94,623
5,995
100,618
12,797
11,365
2023
£
349,431
69,530

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 164,893 94,109
Other debtors 1,018 2,391
Prepayments and accrued income 8,125 113,156
174,036 209,656
16 Creditors: amounts falling due within one year
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year		 2024
£
164,893
1,018
8,125
174,036		 2023
£
94,109
2,391
113,156
209,656
Notes
Other taxation and social security
Deferred income
17
Trade creditors
Other creditors
Accruals
17
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024		 2024
£
-
21,869
3,068
1,597
32,216
58,750
2024
£
21,869		 2023
£
3,531
22,560
15,050
5,700
26,220
73,061
2023
£
22,560
2024
£
21,869
22,560
(22,560)
21,869
21,869		 2023
£
22,560
63,391
(63,391)
22,560
22,560

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £29,358 (2023 - £41,997).

Movement in funds
Movement in funds
Balance at
1 April 2022
Income
Expenditure
Transfers
Balance at
1 April 2023
Income
Expenditure
Transfers
Balance at
31 March 2024
£
£
£
£
£
£
£
£
£
King Centre Development
24,029
-
(15,127)
(8,902)
-
-
-
-
-
Smallwood - Possibilities
696
40,000
(6,115)
-
34,581
36,000
(19,731)
(6,000)
44,850
Steve Morgan Foundation - IT Infrastructure
11,500
-
-
-
11,500
-
(11,486)
-
14
IAPT Partnership Training
10,520
-
(332)
-
10,188
-
-
-
10,188
Big Lottery Fund - Step Together
11,955
58,594
(41,029)
-
29,520
59,989
(53,788)
(14,800)
20,921
The National Lottery Community Fund
-
-
-
-
-
61,090
(61,090)
-
-
Tudor Trust
16,490
-
-
(16,490)
-
50,000
(50,000)
-
-
Police Commissioner
-
29,955
(47,128)
17,173
-
19,925
(19,493)
-
432
Battersea Arts Centre
1,500
-
(3,172)
1,672
-
-
-
-
-
Energy Saving Grants
(3,361)
20,518
(31,099)
13,942
-
-
-
-
-
John Moores Foundation
2,802
11,750
(39,074)
24,522
-
-
-
-
-
Birmingham City Council
4,500
-
(4,500)
-
-
-
-
-
-
Steve Morgan Foundation - Vulnerable
Families
4,572
33,750
(28,716)
(9,606)
-
-
-
-
-
Smallwood - ROSA
5,624
8,000
(35,930)
22,306
-
1,250
(1,250)
-
-
Grantscape
8,000
8,000
(14,616)
(1,384)
-
-
-
-
-
Canal & River Trust
6,027
-
(2,527)
(3,500)
-
-
-
-
-
Halton Activity Fund / Merseyside Holiday
Fund
-
24,091
(17,132)
-
6,959
20,244
(19,730)
-
7,473
Halton International Cafe
-
5,000
(1,906)
(1,138)
1,956
-
(1,956)
-
-
Supporting Homeless Activities
-
2,490
(202)
-
2,288
-
(2,288)
-
-
Arts Council
-
-
-
7,827
7,827
-
(7,827)
-
-
Winter clothing
-
3,500
(3,480)
-
20
2,000
(2,020)
-
-
Housing Benefit
-
66,115
(57,952)
-
8,163
-
(8,163)
-
-
D-Fuse Projects / D-Fuse Active
-
30,615
(8,667)
-
21,948
3,671
(25,619)
-
-
Stonehaven
-
-
-
-
-
17,451
(17,451)
-
-		 - 31 -

Restricted funds
(continued)		 Children in Need Star Centre Grants
-
42,021
(38,312)
(3,709)
-
-
-
-
-		 Sefton CVS
-
-
-
-
-
300
(300)
-
-		 Sefton Emotional Achievement Service (SEAS)
-
-
-
-
-
8,050
(8,050)
-
-		 P H Holt
-
-
-
-
-
10,000
-
-
10,000		 Merseyside Recycling and Waste Authority
-
-
-
-
-
3,500
(3,500)
-
-		 LCR Multiply
-
-
-
-
-
17,007
(17,007)
-
-		 United Utilities
-
-
-
-
-
40,000
(40,000)
-
-		 Community Foundation
-
-
-
-
-
6,984
(6,984)
-
-		 Albert Gubay
-
-
-
-
-
875
(686)
-
189		 104,854
384,399
(397,016)
42,713
134,950
358,336
(378,419)
(20,800)
94,066		 King Centre Development: This income has supported the feasibility study and preliminary designs for our planned move to The King Centre, allowing us to greatly increase our capacity and giving us a customised building in which to provide community support. Due to the increase in the cost of construction post covid and the war in the Ukraine the project was deemed unfeasible and was closed down. Smallwood - Possibilities: As a Smallwood Community Grant Partner we are able to distribute grants to women in need to provide, amongst other things, debt relief, pathways back to employment or household essentials. This is the third year of a 4th year of this programme, due to end in December 2024. The Steve Morgan Foundation - IT Infrastructure: funding received to help us undertake a web and systems rebuild. IAPT Partnership Training: funding for training available specifically for our Child and young people counsellors in the Star Centre. Big Lottery: This was the final portion of our 5 year Step Together project, supporting women who had children inside the care system. The project ended in September 2021 and was refunded for continuation in April 2022 for 3 years. The National Lottery Community Fund, second year of a three year continuation grant for Step Together which supports women who have had children removed from their care. The project is due to end in April 2025. They also supported increased activity in response to the Cost Of Living Crisis. This support enabled us to provide extra Open Access Sessions, more emergency food parcels, winter clothing, Data, and energy vouchers. Tudor Trust supported both our family support programme and increased activity in the Star Centre. Police Commissioner: This is the continuation of our Stonehaven project. In conjunction with Merseyside Police, we have set up a team of Youth Workers and Therapists who work with young people to reduce the risk of involvement in county lines activity. The programme has been extended for a further year and us due to finish in March 2023 although we expect a fourth year of the programme.
19

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 April 2022
£
Fixed Asset Fund
65,208
Cessation Contingency Fund
129,144
Utility Fund
25,000
219,352		 Transfers
Balance at
1 April 2023
£
£
24,378
89,586
(4,281)
124,863
(25,000)
-
(4,903)
214,449		 Transfers
Balance at
31 March 2024
£
£
(14,212)
75,374
30,911
155,774
-
-
16,699
231,148		 Transfers
Balance at
31 March 2024
£
£
(14,212)
75,374
30,911
155,774
-
-
16,699
231,148
231,148

The Fixed Asset Fund represents the ring fencing of assets which are not available as port of the general liquid reserves of the charity.

The Cessation Contingency Fund is designed to provide for costs likely to be incurred should the charity cease to operate.

The Utility Fund has been created to meet a potential liability to Sefton MBC for the undercharging of utility supplies.

Total 2023 £ 78,221 11,365 389,526 479,112
Restricted funds 2023 £ - - 134,950 134,950
Designated funds 2023 £ 78,221 11,365 124,863 214,449
Total Unrestricted funds 2024
2023		 £
£		 62,577
-		 12,797
-		 518,299
129,713		 593,673
129,713
Restricted funds 2024 £ - - 94,066 94,066
Designated funds 2024 £ 62,577 12,797 155,774 231,148
Unrestricted funds 2024 £ - - 268,459 268,459
Analysis of net assets between funds Fund balances at 31 March 2024 are represented by: Intangible fixed assets Tangible assets Current assets/(liabilities)
21

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
5,227
4,224
9,451		 2023
£
5,386
9,451
14,837

23 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

Aggregate compensation 2024
£
275,267		 2023
£
296,033
The Key Management Personnel are as follows:
Chief Executive Officer:
Susan Potts
Family Support Lead:
Clare Kavanagh (resigned December 2023)
Independence Support Lead:
Nicola Thomas (resigned December 2023)
Housing and Resettlement Support Lead:
Carlie Machell
Children and Young People Lead:
Jean Hodgkinson
Executive Assistant to CEO:
Louise Boynton
Finance Officer:
Lyn Robinson
Finance Officer:
Seelan Manoharam (appointed 17 April 2023)

During the financial year £nil (2023: £10,137) was paid to Rule of Three Arts Ltd of which Susan Potts is a director. Rule of Three Arts Ltd also gave a donation of £nil (2023: £846) towards the International Coffee Morning.

24 Company Limited By Guarantee

Venus Working Creatively with Young Women is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £10.

VENUS WORKING CREATIVELY WITH YOUNG WOMEN COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

25
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease) in creditors
(Decrease) in deferred income
Cash generated from/(absorbed by) operations		 2024
2023
£
£
114,561
(205,276)
(3,815)
(857)
21,639
6,561
35,621
87,000
(13,619)
(44,295)
(691)
(40,831)
153,696
(197,698)

26 Analysis of changes in net funds

The charity had no debt during the year.

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