REGISTERED COMPANY NUMBER: 03159029 (England and Wales) REGISTERED CHARITY NUMBER: 1065427 Report of th• TNstee8 and Flnanclal Statements for the Year Ended 31 March 2024 Th• Havèn Wolverhampton Haines Watts Wolverhampton Limited Statutory Auditors Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA
The Haven Wolverhampton Contents of the Flnanclal Statements for the Year Ended 31 March 2024 Page Report of the Trustee8 1 to 10 Report of the Independent Audltor8 11 to 14 Statement of Flnanclal Actlvltle8 15 Balance Sheet 16 Cash Flow Statement 17 Note8 to the Ca8h Flow Statement 18 Not•8 to the F5nanclal Statements 19 to 31 Detalled Statement of Flnanclal Actlvltl•8 32 to 33
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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). OBJECTIVES AND ACTIVITIES ObJe¢tlve8 and aims - Charitable Purpose8 The Haven's Values- To provide safe, high-quality support, in an environment of dignity and respect. To listen and respond with understanding and compassion. Act with responsibility and dilen. The Haven's Vision - For all women and children to live in a society free from oppression, homelessness, Violen and abuse, and to promote and uphold human rights. The Haven's Mission - To provide support to women and dependent children who are vulnerable to domestic abuse and homelessness. The Haven achieves this by providing safe, temporary, emergency accommodation and community-based support seplices. The Haven provides direct one-to-one support in a safe environment, telephone advice, and 24-hour helpline. The Haven's activities are consistent with the Charitable Purposes and Continues to focus on provision of "relief to those in need, by reason of youth, age, illness, disabilty, financial hardship or other disadvantage" and to work towards the advancement of health andlor the saving of lives of those women and children at risk of violence and abuse. The Focu8 of our Work - 2023124 Our strategic priorities: 1) Haven Identity - The Haven's history and ethos are acknowledged, celebrated and guide what we do 2) Haven Focus- Issues affecting vrfornan and children are understood and acted upon 3) People and Community- Continuously developing and enhancing relationships with our communities 4) Communication and Access Women and children can access places of safety and routes to support wherever they are 5) Participation and Inclusion - Support is available to all woman and children who need it 6) Innovation, Sep4ice Growth and Impact - Connecting with organisations and Government agencies to improve and sustain our sep4ices Key 8eneflts - Achlevom•nt8 and Performance Durlng 2023124 In 2023124 Th8 Haven Wolverhampton delivered on its strategic objectives, achieving several notable benefits to the public. The following section provldes an overview. Page 1
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Public benefit The Haven Wolverhampton remains committed to offering essential support to women and children subjected to domests"c abuse and homelessness. Throughout 2023124, we supported more than 1.600 women and children to make them physically and emotionally safer. helping them to heal, feel empowered, and rebuild their lives. In 2023, The Haven marked its 50th year. Our organisation is consKlered a key centre of expertise for domestic abuse and homelessness in the community, holding a major contract with the City of Wolverhampton Council to offer vital services. Our support this year included a 2417 helpline, secure housing, community outreach, wellbeing and counselling services, specialised support for children and young people, and financial and legal advocacy. As essential first points of contact, we reswnded to more than 8,500 helpline calls. Live Chat and WhatsApp messages, demonstrating the demand for our services. Feedback from Anita., a supported woman. illustrates the impact of our helpline-. .I'm grateful for your support for taking your time to listen to me and you stayed professional during the whole process. Thank you so much... you are all doing valuable work for women in the community." We consistently enhance our digital platforms such as our website and social media to improve accessibility. reach more people. and provide resources to those affected by domestic abuse and homelessness. We conts'nued to offer safe and supportive accommodation and this year, have housed approximately 190 women and 176 children. The Haven frequently organises activities to improve women and chlldren's wellbeing and nurture a sense of belonging. Jodie. who sought refuge three days before Christmas Day, said. I was wondering how I would make my children's Christmas better after all the confusion of moving them from their family home. This made me feel even more sad, but due to the kind support I have received from The Haven... I was able to make my children's Christmas wonderful." To assist women transitioning to independent living, we provided small grants that enabled them to buy essential items such as microwaves and fridge freezers. This support eases the financial strain victims often experience when leaving an abusive relationship. Kemi. who received a grant to buy a microwave, said: can freeze and re-heat leftovers now. saving me money!" Mel. a young mother who was able to buy a fridge freezer and stock it with food when she moved to her own home. told her key worker that the grant made big difference. When leaving the accommodation servlce, Sara. highlighted its impact. ' ..Thank you to all stsff members of The Haven who helped me when nobody was with me and I had nothing at that time. You always gave me physical, mental, and financial support. . . Now l am feeling at ease because I got everything which is needed for sutvival." Our community sep4ices play a vital role in supporting women and children, regardless of their living arrangements, to reduce domestic abuse-related risks and enhance safety and wellbeing. In 2023124 the community team supported rn0 than 1.200 women. Dee. was supported through the communty ISVA (Independent Sexual Violence Advisor) after suffering years of abuse in her marriage. She attended support groups, offering emotional support and informats'on on various topics from healthy relationships to court support. Dee" left her husband and thanked The Haven for our support. saying she would never have left the marriage without it, saying: "l am free and happy." Our Sexual violen team offers a safe space and personalised care for survivors. Our ISVA team supported 60 women, while our Children's Independent Sexual Violence Advisors (ChlSVA) and Children's Independent Domestic violen Advisors (ChlDVA) who manage high-risk CYP cases provided critical support to 63 children collectively. Our support, combined with broader advocacy efforts, aims to drive societal change while combatting sexual violence. Page 2
The Haven Wolverhampton Report of the Truste•s for the Year Ended 31 Mah 2024 OBJECTIVES AND ACTIVITIES We advocated for migrant women's rhts and our collaboration through strategic partnerships and resource sharing has had positive results. We were able to facilitate the repatriation of Sia" who had no recourse to public funds and wanted to return to the safety of her family after escaping abuse. In 2023124 we supported 12 vrfomen who, like Sia. had no recourse to public funding. Our Wellbeing Service remains a comerstone of our support framework. We've helped over 220 women through counselling, available in seven languages., our Life Skills Programme empowered individuals transitioning to independent living, equipping them with skills and resources for long-term stability and resilience., our Freedom To Transform Programme helps women to understand what domestic abuse is and gives them the tools to take control of their life. and The Dolphin Programme helps parents to understand the impact of abuse on their children and with professional guidance, equips them with the skills to support their children through it too. Mia", a stroke survivor with multiple needs, completed the Life Skills Programme to help her with better budgeting and improved living to support her move to her own home. Commenting on her improved wellbeing and independence, Mia. said.. -Knowing that all my bills are being taken care of and having the extra support has significantly improved my mental health. I feel financially comfortable and in control of my money. If asked to rate the support out of 10,1'd give it 11. Our children and young people service offers support to younger victims and includes 1-2-1 therapeutic support and play therapy. A supported child, Abi. struggled to make eye contact with others but her sessions helped her to grow in confidence and she now makes eye contact when she talks. She told a key worker that she feels happier. Based on data of 73 children who were being supported at the time of the supley, 900/0 said they had made progress in terms of their wellbeing. As part of our preventive work, our MENgage and EmpowHER programme continued to challenge harmful stereotypes and promote gender equality with the view to build healthier, more respectful relationships among young individuals. In 2023124, approximately 700 Year 9 pupils from various Wolverhampton schools participated. This year, more than 2,200 people have benefitted from The Haven's accredited training (an incr8ase of 390 compared with the previous year), maintsining our commitment to raising awareness and promoting positive change within the community. Our courses cover many topics including Domestic Abuse Awareness and Female Genital Mutilation, and some courses are available as e-learning as a flexible and cost-effective option. Our heritage makes us well placed to educate and share best practice with others. Our work to engage employers and encourage the implementation of domestic abuse policies has been instrumental in creating safer and supportive work environments. We organised the 'Purple Pledge Domestic Abuse and Employment Conference, in October 2023 to bring together employers and other stakeholders to address the complexities of domestic abuse and advocate for change within the workplace. Our training, domestic abuse policy, and conference are efforts to promote prevention and encourage early intervention of domestic abuse, while seeking to create a more empathetic and well-informed society that is better equipped to address these issues. This year, a key challenge we've recognised is our current Case Management System (CMS) and its ability to record meaningful data that enables us to innovate and report on our impact. We have invested in our technology and data function with a new CMS and a Data and Systems Officer to support the Strategic Lead.. Data and Technology. Work has been underway on The Haven's digital transformation and to implement the new CMS so that we can innovate, map the journey of those we support, measure impact, refine services, improve effi'ciency. inform strategic decisions, and identfy areas to upskill staff. Another challenge we have fad is recruitment of staff and trustees. Our priority with any new appointment is that the person has the correct and complementary skillset to drive our organisation forward and ensure that we conts'nue to deliver the best possible servi. Page 3
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES As we reflect on the past yearfs achievements and challenges, our dedication to provKling public benefit through our charitable activities remains steadfast. The tangible impact on the lives of v4men and children served by The Haven Wolverhampton illustrates our commitment to creating a safer and more inclusive society for all. Moving fop4vard, we will continue to deliver on our mission, and work towards achieving our vision, ensuring that our collective efforts continue to drive meaningful and lasting change. "Names have been changed to protect identities. Page 4
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Fundraising actlvltles Fundraising at The Haven has continued to grow during 2023124, despite the ongoing cost of living crisis. The fundraising team organised a range of activities in celebration of The Haven Wolverhampton's 50th year and made many new connections across the West Midlands. The team successfully brought in a total of £385,040 The Haven has paid the Fundraising Levy for 2023124 and has continued its organisational membership with the Fundraising Regulator., the body responsible for the Fundraising Codes of Practice. We have also contributed to the 2023 Consultation of the Codes, offering organisational feedback to the national review. This continues our commitment to ethical and best practice fundraising and demonstrates our continued commitment to the Fundraising Promise. There have been no investigations into The Haven via the Regulator this year. Our Fundraising Manager is also an Individual member of the Chartered Institute of Fundraising (CloF) and a board member on the National CloF Convention team, demonstrating a further commitment to best practice. Our main public-facing fundraising income is generated through The Haven's organised events, as well as challenges taken on by the public 'in aid of The Haven. for which we are very grateful. This occurs alongside corporate partnerships and both regular and one-off donations made by individuals and businesses. All fundraising is managed by The Haven's Fundraising team and adthoc volunteer support; we do not utilise professional fundraisers. This year, we have continued to work with a third-paty consultant to continue to provide external knowledge where we do not have the expertise in-house. We have not worked with any commercial participators. The Haven has a robust and supportive process for managing fundraising undertaken by others. Our 'Fundraise For Us, section on the website provides a host of useful documents including how to keep fundraising safe and legal. Links to relevant guidan is also shared with all supporters who undertake any fundraising activity for The Haven via their letter of authority andlor the most relevant agreement; this is applicable for both 'in aid of supporters and 'on behalf of supporters. We have had many key successes during our 50th year; we were thrilled to secure 56 skydivers for our Jump 50 challenge,. registering at least one skydiver to represent each year in The Haven's history. The event raised £30,000 profit and is making a return in 2024. Another key success was our 50th Anniversary Ball held at Grand Station where we welcomed 400 guests to toast 50 years of our vital services. Guests were entertained with a live singer, casino tables, and a flashmob performance. The event raised over £20,000 profit which will ensure vltal services at The Haven can continue. The Haven has not received any formal complaints this year in relation to fundraising. We have policies and systems in place to record and report any complaints we do receive. We display the Fundraising Regulator promise on our website and ensure that should a supporter wish to make a complaint., they have a clear process available. Our produre states that we acknowledge written complaints within five working days, and we aim to resolve them within 28 days. Complaints are dealt with in the first instance by the Fundraising Manager and escalated where necessary to the Chief Executive and would be reported to the Fundraising Regulator. The Haven has a vulnerable person policy that is accessible on our website to supporters and is consistsntly reviewed against the Regulator. This is also shared with the fundraising team as part of induction and on an on-going basis through refresher training to ensure an ongoing awareness of the importance of protecting vulnerable people fundraising or donating to The Haven. Internal policies are reviewed regularly to ensure relevance and the fundraising team continue to demonstrate vigilance at events and through donations to ensu high leve15 of support for vulnerable persons. Our intemal database records information on consent and our fundraising team ensures this is regularly updated in line with each donors, preferences. We are also signed up to the Fundraising Preference Service to enable individuals to opt out from receiving fundraising communications from us. We have not received any requests via the service. Page 5
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Flnanclal posltion The year under review has been extremely challenging. as can be seen from our detailed accounts, with unforeseen expenditure and income levels not being as forecast. Fundin sources- During the year, some income levels vRre not as expected or forecast. Income secured through Housing Benefit for the year was unfortunately lower than expected and The Haven was unable to fully recover all necessary expenditure on enhanced out of hours security measures implemented across our refuges and safe accommodation services. Income forecasts within the annual budget through Grants ReIvable and Enterprise activities were also not fully realised. These cuts in funding also obliged us to restructure a number of projects which sadly meant that some valued staff members were made redundant, resulting in further unexpected costs. This restructuring process has continued into the current year and has resulted in considerable cost savings without significantly reducing our levels of service. - The Haven continued to resource and maintain its Refuges and safe accommodation to a high standard to ensure provision of a safe and Secu environment for the women and children we support. However, The Haven did incur substantial additional costs during the year, some of which were covered by reserves which we were unable to recover through alternative funding streams: Provision of enhanced out of hours security measures across our refuges and safe accommodation Upgraded Fire Protection - due to a change in Fire Safety Regulation5 Additional recruitment costs increase in agency staff. difficulty to recruit to specialist roles, Counselling services - increased demand for survivors. Essential system upgrades Investrnent into children services These major factors have resulted in The Havens reserves being substantially reduced during the year. At year*nd total unrestricted reseDies stand at £1.841.447, the major part represented in fixed assets. essents'ally the buildings and refuges from which The Haven's services and support are provided. mmi LODI - in light of this, Trustees have taken urgent action to begin to restore reserves to the desired level and to have a positive impact on the current deficit position. A robust action plan is in place, ensuring the budget for the forthcoming year is monitored closely by Trustees each month. with the aim to achieve a breakeven result at March 2025. All costs have been reviewed and substantial savings and efficiencies have already been made and are on4oing. For the six months to September 2024, we are pleased to confirm that a surplus has been achieved. Unrestricted net curren a ts - At March 2024, UnstrICted net current assets of The Haven stand at £245,433 (2022123 £799,824). Reserves and retalned fund8 poIIcy Reserves are essential and needed to meet the day to day working capitsl requirements of the charity. to help provide for unexpected delays with payment or withdrawal of major grants or contracts. The Board of Trustees established a policy, whereby the unrestricted funds not committed or invested in tsngible fixed assets (the 'free' reserves) should be assigned to enable The Haven to accumulate three months running costs to support continuation of services and essential requirements of the Charity. Budgeted expenditure for 2024125 is forecast to be £3.443.668. This suggests a three-month SerVeS target of £860,917. As noted in previous paragraphs, the charity ended the year with free resenies of £245,433. It is acknowledged that this is not in line with the organisation's reserves policy, but we have confidence in our strategy to improve this and to continue to increase financial resilience. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document and Constltutlon The Haven Wolverhampton is a charitable company limited by guarantee, incorporated in 1996 (Company Limited by Guarantee No. 031590291, registered as a charity in 1995 (Registered Charity No. 1065427). The company was established under a Memorandum of Associab'on that established the objects and powers of the charitsble company and is governed under its Ath'cles of Associats'on which was last updated in March 2016. Page 6
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The directors of the company are also the charity trustees for the purposes of charity law. Under the companies, artides they are known as members of the board. Under the requirements of the Articles of Association the members of the board are appointed to serve for a period of three years after which they must be re*lected at the next annual general meeting for a further period of three years following which they stand down for a minimum period of 18 months before being able to request to re-join the board. Recrultmont to the board Recruitment Is made following an open selection process with the appointment ratified at the Annual General Meeting. It is important that the skills and competencies reflect the roles and responsibilities required by law for Charity Trustees and Company Directors and we are able to coOPt members to support that. Development and growth It is clear from Haven's Board records that Trustee membership has changed considerably between Dernber 2023 and February 2024. After many years of stability with Board members, the organisation has found it challenging to recruit a complementary team of expertise to govern and lead the charity forward. Therefore, this resulted in turnover being higher than expected. After substantial changes, both structurally, financially and operationally The Board of Trustees role is more crucial than ever, and remaining members are aware of the key role they play in moving the charity forward into the next strategic phase. It is essents'al The Haven leams from this period and recruitment reflects the needs of the Charity. We are currently advertising for expressions of interest from people who may wish to be a Trustee at the Haven based upon a specific list of skill-set Organ18atlonal 8tructuro In the light of unexpected variances to Income and expenditure during the year, the Board of Trustees now meet monthly (rather than quarterly) in order to monitor Charity business more closely. Our Senior Leadership Team, now led by an Interim Chief Executive Officer, brings a breadth of expertise to the organisation. Board members are informed by leading members of staff who produce papers for consideration and decision. Access to documents, past and present, is provided through Teams so that Trustees can readily review and confimi decisions. Our focus remains to ensure close scrutiny of expenditure, in order to bring about savings and re-negotiate contracts to secure best value. The Board of Trustees have taken urgent action to begin to restore reserves to the desired level and to have a positive impact on the current deficit position. In addition, stsff and Trustees are absolutely committed to evidencing our best quality stsndards and establishing valid data in order to secure the local authority contract due to be commissioned next year. and to reassure other funding bodies. Page 7
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND mANAGEmEr Risk management Our Board of Trustees is committed to effective risk management and a Risk Register is in place, monitored monthly. for the purpose of identifying, assessing and mitigats'ng risks that may impact upon our ability to provide outstsnding refuge and community services. We also recognise the importance of managing risks related to governance, Complian with legal and regulatory requirements and staffing risks, including the need to attract and retsin a diverse and skilled workforce. Due to the extraordinary expenditure. The Board currently scrutinises spending to ensure our financial prOdureS are firmly in place and observed. Looking ahead, we are renewing our focus on financial resilience. Our Board of Trustees is committed to overseeing our financial management practs'ces and ensuring that we have the resources we need to continue making a positive impact in our community. By staying vigilant and proactive in managing external financial risks. we can continue to fulfil our mission. Publlc Beneflt Statement Charits'es and Public Benefit - Trustee Directors of The Haven Wolverhampton confinn due regard to The Charity Commission's guidance regarding 'Public Benefit,, and Compliance with Section 17 of The Charities Act2011. REFERENCE AND ADMINISTRATIVE DETAILS Reglstor?d Company number 03159029 (England and Wales) Regl8tor•d Charlty nurnr 1065427 Regl8tered offlce Clo The Haven POBox105 18 Waterloo Road Wolverhampton West Midlands WV14BL Trustees Mrs N Hear- resigned 16.2.2024 Mr R H Marris - end of temi 5.6.2024 Mrs C Jones - resigned 3.12.2023 Ms S Parmar- dismissed 05.06.2024 Mrs S Harris - end of term 7.8.2023 Ms R North - resigned 2.1.2024 Mrs P Pringle - resigned 2.10.2023 Ms D Brayshaw - resigned 27.2.2024 Ms A Lawson - resigned 4.4.2024 Ms C Grant Miss C M Wynne Howells Mrs L Moran (Chair) - appointed 18.11.2023, Chair 27.02.2024 Co•OPtee' Mr N Tinsley - Interim Treasurer- From 01.05.2024 Mrs Clare Roberts Maloy- From 20.05.2024 Page 8
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Haines Watts Wolverhampton Limited Statutory Auditors Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA Bankers National Westminster Bank Suite 3, First Floor Brook Court Whittington Hall Whittington Road Worcester WR5 2RX Reg18tered own6r8 of propertles - Nomlnated Trustee8 The title for a refuge property belonging to The Haven Wolverhampton is in the name of four ex trustees of The Haven Wolverhampton as nominees. When the property was originally purchased, The Haven Wolverhampton was not operating as a limited company, and so the title deeds had to be put in the name of the twstees, as nominees. The title deed is currentty being updated. The Haven Wolverhampton is the registered owner of all of the other properties. TRUSTEES. RESPONSIBILITY STATEMENT The trustees (who are also the directors of The Haven Wolverhampton for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustee5 are aware.. there is no relevant audit information of which the charitsble company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informats'on and to establish that the auditors are aware of that information. Page 9
The Haven Wolverhampton Report of the Trustees for the Year Ended 31 March 2024 AUDITORS A review of the audit service was conducted and completed during 2022. The auditors, Haines Watts Wolverhampton Limited, were re-appointed by The Board of Trustees. This was ft)rmally noted at The Haven Wolverhampton's Annual General Meeting in 2022. At The Haven's Annual General Meeting in 2023, Haines Watts Wolverhampton Limited We appointed for audit services for 2023-24. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 20(b lating to small companies. Approved by order of the board of trustees on and signed on its behalf by.. L Moran - Trustee Page 10
Report of the Independent Audttors to the Members of The Haven Wolverhampton Opinlon We have audited the financial statements of The Haven Wolverhampton (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparats'on is applicable law and United Kingdom Accounkn'ng Standards (United Kingdom Generally A¢pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's 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 property prepared in accordance with United Kingdom Generally Accepted Accounting practi., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon 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 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 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. Concluslons relatlng to golng concem 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 materlal uncertaints'es relating to events or conditsons that, individually or collectively, may cast significant doubt on the charilable company's ability to continue as a going concern for a period of at least bNelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the trustees with respect to going concern are described in the relevant sections of this report. Other Infomiatlon The trustees are responsible for the other information. The other infomation comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial ststements does not cover the other information and. except to the extent otheiSe explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the fi'nancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise appears to be materially misstated. If we identify such material inconsistencies or appant 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. Oplnlons 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial ststements: and the Report of the Trustees has been prepad in accordance with applicable legal requirements. Page11
Report of the Independent Audltors to the Members of The Haven Wolverhampton Matters on whlch we are requlred to report by exceptk)n In the light of the 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 Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remunerats'on 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslbllltle8 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 charrtable company's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate Ihe charitable company or to cease operations, or have no realistic altemative but to do so. Page 12
Report of the Independent Audltors to tho Members of Tho Haven Wolv•rhampton Our responsibilities for the audlt of the flnanclal 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 a Report of the Independent Auditors that includes our opinion. Reasonable assuran 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, individualty or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Irregularities, including fraud, are instances of non-compliance wrth 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. To assess the risk of irregularity through non-compliance with laws and regulations.. The audit engagement partner ensured that the audit team collectively had the appropriate experience, competence and skills to undertake the audit of a charitable company, including having an understanding of the applicable laws and regulations applying to such organisations., We identified the laws and regulations applicable to the charity, through our knowledge of the charity sector and through discussions with management and the trustees., - We have obtained and reviewed minutes of meeting of the trustees., - We have reviewed the disclosures made within the financial statements and the trustees, report. To assess susceptibility to misstatement in the charity's accounts, including how fraud might occur.. The audit team reviewed and documented internal controls., - We made enquirie5 of management and those charged with governance to ascertain where they considered there to be suscepb'bility to fraud and whether they had knowledge or suspicion of fraud. To address the risk of fraud through management bias and override of internal controls.. - We reviewed transactions with related parties and carried out analytical procedures to identify unusual transactions or balances., - We reviewed and tested adjustments and Journals posted in the charity's financial systems for appropriateness and approval processes., We tested the completeness of income and validity of costs. - We considered the appropriateness of accounting estimates, where relevant. We did not identify any key audit matters relating to irregularities, including fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation, A further descripts'on of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at WV4*W.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 13
Report of the Independent Audltors to the Members of The Haven Wolverhampton 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 charitsble company's members those matters we are required to state to them in an auditors, 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. Geoffrey Hopwood BCOM FCA (Senior Statutory Auditor) for and on behalf of Haines Watts Wolverhampton Limited Statutory Auditors Keepers Lane The Wergs Wolverhampton West MKllands V4V6 8UA Date: Page 14
The Haven Wolverhampton Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 361,908 23,132 385,040 406,326 Charltabl8 activities Accommodation charges Grants and contracts 1,267,114 785,281 1,267,114 1,414.015 1,140.822 1,867,725 628,734 Investment income other income 14,195 30,652 14,196 48,152 4,085 35,301 17,500 Total 2,459,150 669,366 3,128,516 3.454,259 EXPENDITURE ON Raising funds 217,560 217,560 159,554 Charltable actlvltles Refuge costs Special projects 1,926,743 913,968 903,418 2,830,161 913,968 2,096,064 859,538 Impairment of tangible fixed assets (177,190) (177,190) Total 2,881,081 903,418 3,784,499 3,115,156 NET INCOMEI(EXPENDITURE> Transfern between fund8 1421,931) (7,863) 1234,052) 1655,983) 7,853 339,103 19 Net movement In fund8 1429,784) 1226,199) 1655,983) 339,103 RECONCILIATION OF FUNDS Total funds brought forward 2,271,231 343.558 2,614.789 2,275.686 TOTAL FUNDS CARRIED FORWARD 1,841,447 117,359 1,958.806 2,614,789 The notes form part of these fi'nancial statements Page 15
The Haven Wolverhampton Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 12 2,098,134 2,098.134 1,971,366 CURRENT ASSETS Debtors Cash at bank 13 338,029 290,816 1,172 257,793 339,201 548,609 255.959 1,198,306 628,845 258,965 887,810 1,454,265 CREDITORS Amounts falling due within one year 14 (383.412) (141,606) (525,018) (310,883) NET CURRENT ASSETS 245,433 117,359 362,792 1,143,382 TOTAL ASSETS LESS CURRENT LIABILITIES 2,343,567 117,359 2.460,926 3.114.748 CREDITORS Amounts falling due after more than one year 15 1502,1201 (502,120) {499.959) NET ASSETS 1,841,447 117,359 1,958,806 2.614,789 FUNDS Unrestricted funds Restricted funds 19 1,841,447 117,359 2,271,231 343,558 TOTAL FUNDS 1,958,806 2,614,789 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. n - Trustee The notes form part of these financial statements Page 16
The Haven Wolverhampton Cash Flow Statement for the Year Ended 31 March 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operats'ons (621,654) 805,897 Net cash (used inyprovided by operating activities <621,654) 805,897 Cash flows from investing actlvltle8 Purchase of tangible fixed assets Interest received {33,649) 14,195 {630,114) 4,085 Net cash used in investing activities {19,454) (626,029) Cash flow8 from financlng actlvltles New bans in year Loan repayments in year 385,000 (4.041) 18,589) Net cash (used in)Iprovided by fi'nancing activities 18,589) 380,959 Change In cash and cash equlvalent8 In th? reportlng perlod Cash and cash •qulvalent8 at the beglnnlng of the reportlng perlod 1649,697 560,827 1,198,306 637,479 Cash and cash equlvalent8 at the end of the reportlng perlod 548,609 1,198,306 The notes form part of these financial ststements Page 17
The Haven Wolverhampton Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET {EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (expondltureylncome for the reporting period las per the Statement of Flnanclal Actlvltlesl Adjustments for.. Depreciation charges Interest received Impairment of tangible fixed assets {Increase)Idecrease in debtors Increase in creditors 1655,983) 339.103 84,073 114,1951 (177,190> 183,242) 224,883 76,848 (4,085) 239,288 154,743 Net cash (usèd In)Iprovlded by operatlon8 {621,654) 805,897 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net ca8h Cash at bank 1,198,306 {649,697) 548,609 1,198,306 (649,697) 548,609 Debts falling due within 1 year Debts falling due after 1 year (21,000) 1499,959) 10,750 (2,161) (10,250 (502,1201 1520,959) 8,589 (512,3701 Totsl 677,347 1641,108) 36,239 The notes form part of these financial statements Page18
The Haven Wolverhampton Notes to the Flnanclal Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparlng the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practi 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)., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information. including the annual budget and future cash flovrfs in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the cUrnt resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Crltlcal accountlng Judg8mont8 and key 8ourc88 of e8tlmatlon uncertalnty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Incomo All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Grants from the government and other agencies have been included as income from activities in furtherance of the objects of the charty where these amount to a contract for seDiices. but as donations and similar incoming resources where the money is given with greater freedom of use for example government core funding. Accommodation charges are shown net and represent recoverable amounts after making our best efft)rts to collect all amounts due, Expendltur• Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expendrture, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Governance cost8 Governance costs include the cost of governan arrangements which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and programme or project work. These activities provide the governance infrastructure which allows us to operate and to generate the information required for public accountability- They include the Strategy planning process that contributes to our future development. Allocatlon and apportionment of costs Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. They are allocated on a basis consistent with the use of reSoUrs. Page 19
The Haven Wolverhampton Notes to the Financial Statements - contlnued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - contlnued Flxed as8et8 Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold propety Fixtures and fittings Computer equipment 2% on cost 33% on cost 330h on cost The Freehold propety is reviewed by the trustees on an annual basis and any significant impaimient is treated as additional depreciation and included in the Statement of Financial Activities. The revised carrying amount is depreciated in accordance with the above policy. All fixed assets are initially recorded at cost or deemed cost in the case of certain assets revalued on transition to SORP (FRS102). Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charltable objectives at the discretion of the trustees. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs. Transfers are made from unrestricted to restricted funds in order that the restricted fund has sufficient funding to meet its obligations Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Donated goods Gifts in kind donated for distribution to the beneficiaries of the charity are recognised at fair value and are included as a component of donations when they are distributed and an equivalent amount recognised as charitable expenditure. Hlre purchase and leaslng commltments Rentals applicable to operating leases where substsntially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. Redundancy and termlnatlon payments Redundancy and termination costs are recognised as an expense in the Statement of Financial Acts'vities and a liability on the Balance Sheet immediately at the point the Charity is demonstrably committed to either.. terminate the employment of an employee or group of employees before the normal retirement date., or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan. Ponslon costs and other post-retlrement benoflts The charity operates a group personal pension scheme for the benefit of its employees. The costs of contributs'ons a written off against unrestricted funds in the year they are payable. Page 20
The Haven Wolverhampton Notes to the Financial Statements - continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Gifts Donations Legacies 82,974 302,066 122,560 278,766 5,000 385,040 406, 326 INVESTMENT INCOME 2024 2023 Deposit account interest 14,195 4,085 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Accommodation charges Grants and contracts Accommodation charges Grants 1,267,114 1,414,015 1,140,822 1,867,725 2,681,129 3,008,547 Grants received, included in the above, are as follows.. 2024 2023 BBC Children in Need CWC Housing Related Support Services CWC - Contract for Housing Related Support 'Services to women who are victs'ms of domestic violence and abuse, Severn Trent Community Fund Police & Crime Commissioner'The Haven IDVA Service, Nationwide Community Grants DVPP The Eveson Charitable Trust Charles Hayward Foundation Supported by Norfolk Community Foundation through Bolton Trust Revenue Fund CWC - Contract Seplices to women who are victims of domestic violence and abuse Police & Crime Commisioner E01 Funding The WISH Fund Catslytic Grant programme supported by the Clothworkers, Foundation The Wolverhampton VCR Partnership - Communty Renewal Fund National Grid Electricity Distribution Community Matters Fund Henry Smith Charity Santander UK Foundation Limited Sandwell Metropolitan Borough Council Sandwell Metropolitan Borough Council Telford & Wrekin Council Hemraj Goyal Foundation Other Grants 11,664 36,140 8,000 731,291 31,182 84,131 11,199 710,483 106,101 32,038 11,667 23,500 3,500 4,000 602,012 101.407 105,812 25,000 2,478 5,000 8,431 9,500 25,725 14,795 15,350 15,950 26,639 11,992 110,662 14,458 4S,891 15,900 39,959 26.268 117,765 Carried forward 1,278,165 1,867,725 Page 21
The Haven Wolverhampton Notes to the Flnancial Statements - continued for the Year Ended 31 March 2024 INCOME FROM CHARITABLE ACTIVITIES - continued 2024 2023 Brought forward Deloitte "Digital Grants" Charles Plater Trust Energy Industry Voluntary Redress Scheme National Lottery Community Fund The Rowlands Trust The Steele Charitsble Twst Cadent Gas UK The Eaton Fund 1,278,165 3.445 15,428 9,293 66,162 7,350 15,492 13,680 5,000 1,867,725 1,414,015 1,867,725 All of the above grants are restricted except for the City of Wolverhampton Council - Contract 'seiC@s to women who are victims of domestic violence and abuse, and £53,990 included in Other Grants, which are unrestricted. RAISING FUNDS Other tradlng actlvlti 2024 2023 Staff costs Other direct costs Support costs 109,947 63,704 43,909 93,316 17,409 48,829 217,560 159,554 CHARITABLE ACTIVITIES COSTS Support cosis (see note 7) Direct Costs Totals Refuge costs Special projects 2,359,890 631,521 470,271 282,447 2,830,161 913,968 2,991,411 752.718 3,744,129 Page 22
The Haven Wolverhampton Notes to the Flnanclal Ststements - continued for the Year Ended 31 March 2024 SUPPORT COSTS Governance costs Other Totals Other trading activities Refuge costs Special projects 43,909 470,271 239,925 43,909 470,271 282,447 42,522 754,105 42,522 796,627 Support Costs, induded in the above, are as follows.. 2024 2023 Other trading activities Refuge costs Special projects Total activities Total activities Wages Premisas related Office supplies and seplices Financial costs Depreciation of tangible fixed assets Wages - Governance Govemance costs Sundry costs - Govemance 30,813 2,835 330,010 30,359 168,366 15,489 529,189 48,683 514,971 14,429 8,951 959 95,870 10.274 48,911 5,242 153,732 16,475 175,167 11,738 351 3,758 1,917 7,379 32,196 6.026 7,379 32,196 17,782 3,708 11,112 2,947 2,947 1,823 43,909 470,271 282,447 796,627 750,730 NET INCOMEIIEXPENDITURE) Net Incomellexpenditure) is stated after chargingl(crediting)'. 2024 2023 Depreciation - owned assets Auditors, remuneration Auditors, remuneration - Non audit services Operating leases 84,071 10,600 4,383 128,040 76.848 8,400 72,441 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, MUneratIon or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 23
The Haven Wolverhampton Notes to the Financial Statements - contlnued for the Year Ended 31 March 2024 TRUSTEES. REMUNERATION AND BENEFITS - contlnued Tru8te88' expen8e8 2024 2023 Subscriptions Recruitment Training Trustee indemnty insurance for all trustees 239 199 12 4,646 2,126 1,154 The number of trustees who were pa expenses were nil (2023: nil) 10. STAFF COSTS 2024 2023 Salarie8 and wages Agency Termination payments Social security Pension costs Health care 1,954,187 100,820 116,605 149,781 113,060 5,356 1,647,280 22,487 134,841 101,675 4,389 2,439,809 1,910,672 During 2023-2024, the key Senior Management personnel of the charity comprise, the Chief Executive, Senior Lead Finance, Senior Lead Development, Senior Lead Services, Central Services Manager, Senior Lead Dats Intelligence, and Senior Lead People & Culture. The total employee benefits of the key senior management personnel of the charity were £294,430 (2023 - £220,366). Terminats'on payments were funded out of general unStricted reserves and consists of salary, pension and additional discretionary payments approved by the Trustees. The average monthly number of employees during the year was as follows.. 2024 62 2023 63 Charitable activities Fundraising Support 74 73 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 2023 £60.001- £70,000 Page 24
The Haven Wolverhampton Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 368,105 38,221 406,326 Charltable activities Accommodation charges Grants and contracts 1,140,822 770,933 1,140,822 1,867,725 1.096,792 Investment income Other income 4.085 35,301 4.085 35,301 Total 2.319,246 1,135,013 3,454,259 EXPENDITURE ON Raising funds 159,554 159,554 Charltable actlvltle8 Refuge costs Special projects 1,017,818 859,538 1,078,246 2,096,064 859,538 Total 2,036,910 1,078,246 3,115,156 NET INCOME Tran8fern between funds 282,336 {2,000) 56,767 2,000 339,103 Net movement In funds 280,336 58,767 339,103 RECONCILIATION OF FUNDS Total funds brought foDNard 1,990,895 284,791 2.275.686 TOTAL FUNDS CARRIED FORWARD 2,271,231 343,558 2,614,789 Page 25
The Haven Wolverhampton Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2024 12. TANGIBLE FIXED ASSETS Fixtures and fittings FehOld property Computer equipment Totals COST At 1 April 2023 Additions 2,358,192 223,756 18,500 213,605 15,149 2.795,553 33,649 At 31 March 2024 2,358,192 242,256 228,754 2,829,202 DEPRECIATION At 1 April 2023 Charge for year Reversal of impairments 434,168 47,152 1177,190) 176,414 31,869 213,605 5,050 824,187 84,071 1177,190) At 31 March 2024 304,130 208,283 218,655 731,068 NET 800K VALUE At 31 March 2024 2,054,062 33,973 10,099 2,098,134 At 31 March 2023 1,924,024 47,342 1,971,366 Certain freehold land and buildings included above were recognised using a valuation by Michael Tromans & Co. at 9 Dember 2016, adjusted to give a valuation on 1 April 2015. This was the value used as a deemed cost on the date of transition to SORP (FRS 102). These assets are being depreciated from their valuation date of 1 April 2015 and have a net book value of £832,451 (2023 £852,686). The historical cost equivalent of these assets is.. 2024 2023 Cost Depreciation Net Book Value 1,248,865 1,248,865 Offlces at Waterloo Road The above property was subject to an impairment review in 2017 and its valued was reduced by £177,190. The property was subject to a further valuation during 2024 and this provision was reversed in full and included in the Statement of Financial Activities. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Less reserves for bad debts Prepayments and accrued income 299,416 17,028 46,813 233,645 19,293) 31.607 339,201 255.959 Page 26
The Haven Wolverhampton Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 16) Social security and other tsxes Other creditors Accruals and deferred income Deferred income 10,250 47,319 83,943 241,899 141,607 21.000 29.743 58,402 59,488 142,250 525,018 310,883 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 16) 602,120 499,959 16. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on damand: Bank loans 10,250 21,000 Amounts falling due between two and five years: Bank loans - 2-5 years 20,877 84,000 Amounts falling due in more than five years., Repayable by instslments,. Bank loans more S yr by instal 481,243 415,959 17. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating bases fall due as follows.. 2024 2023 Within one year BebNeen one and five years 114,128 42,398 104.048 94.628 156,526 198,676 Page 27
The Haven Wolverhampton Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2024 18. SECURED DEBTS The following secured debts are included within creditors: 2024 2023 Bank loans 512,370 520.959 The bank loans are secured by a first legal charge on bNO freehold properties owned by the charity. 19. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 31.3.24 At 1.4.23 Unr88trlcted fund8 General fund 2,271,231 {421,931) (7,853) 1,841,447 Ro8trl¢t•d funds Propety Renovation - grants and donations Family and Chlldren's Projects Advi and Support Projects Core ProvisionlServiS Counselling Staff Grants 43.310 40,204 227,375 6,133 19,995 6,541 7,806 6,604 (221,926) 51,116 39,660 20,450 6,133 (7,148) 15,001 (19,995) 16,541) 343,558 1234,052) 7.853 117,359 TOTAL FUNDS 2,614,789 (655,983) 1,958,806 Net movement in funds, included in the above are as follows,. Incoming resources Resources expended Movement in funds Unrestrlcted fund8 General fund 2,459.150 (2,881,081> {421,931) Re8trlcted fund8 Property Renovation - grants and donations Family and Children's Projects Advice and Support Projects Counselling Staff Grants 38,532 227,854 330,125 12,018 60,837 (30,726) (221.250) (552,051) (32,013) (67,378) 7,806 6,604 (221,926) 119,995) (6,541) 669,366 (903,418> (234,052) TOTAL FUNDS 3,128.516 (3,784,499) (655,983) Page 28
Tho Haven Wolverhampton Note8 to the Flnanclal Statements - contlnued for the Year Ended 31 March 2024 19. MOVENIENT IN FUNDS - continued Comparatives for movement in fund8 Net movement in funds Transfers befvleen funds At 31.3.23 At 1.4.22 Unre8trlcted fund8 General fund 1,990,895 282,336 (2,000) 2,271,231 Restrictsd funds Property Renovation - grants and donations Family and Children's Projects Advice and Support Projects Core Provisionlservices Counselling Staff Grants 43,310 34,220 191,277 6,133 9,851 43,310 40,204 227,375 6,133 19,995 6,541 3,984 36,098 2,000 10,144 6,541 284,791 56,767 2,000 343,558 TOTAL FUNDS 2,275,686 339,103 2,614,789 Comparative net movement in funds, included in the above are as folk)ws: Incoming resources Resources expended Movement in funds Unr•8trl¢ted fund8 General fund 2,319,246 (2,036,910) 282,336 Restrlctsd funds Family and Children's Projects Advice and Support Projects Counselling Staff Grants 755,129 298,800 20,667 60,417 (751,145) (262,702) (10,523) (53,876) 3,984 36,098 10,144 6,541 1,135,013 (1,078,246) 56,767 TOTAL FUNDS 3,454,259 (3,115.156) 339,103 Page 29
The Haven Wolverhampton Notes to the Flnancial Statements - contlnued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers belween funds At 31.3.24 At 1.4.22 Unrestrlcted funds General fund 1,990,895 (139,595) (9,853) 1,841.447 R88tricted funds Propety Renovation - grants and donations Family and Children's Projects Advice and Support Projects Core Provisionlservices Counselling 43,310 34,220 191,277 6,133 9,851 7,806 10,588 (185,828) 51,116 39,660 20,450 6,133 (5.148) 15.001 {9,851) 284,791 (177,285) 9,853 117,359 TOTAL FUNDS 2,275,686 (316,880) 1,958,806 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement n funds Unr•8trlctod fund8 General fund 4,778,396 (4,917,991) 1139,595) Re8trlct8d funds Property Renovation - grants and donations Family and Children's Projects Advice and Support Projects Counselling Staff Grants 38,532 982,983 628,925 32,685 121,254 (30,726) (972,395) (814,753) (42,536) (121,254) 7,8C6 10,588 1185,828) (9,851) 1,804,379 (1,981,664) 1177,285) TOTAL FUNDS 6,582,775 <6,899.655) {316,880) Transfers between funds Transfer from Unrestricted fund to Restricted fund Transfers were made out of general funds so that individual restricted funds were not in deficit. Transfer beiween Famil and hildren's F and Su ort fund Transfers were made to realbcate past expenditure bebween the funds. Page 30
The Haven Wolverhampton Notes to the Financial Statements - continued for the Year Ended 31 March 2024 20. CAPITAL COMMITMENTS 2024 2023 Contracted but not provided for in the financial statements 972.000 The Trustees had approved a capitsl project at one of the refuges last year and a contractor was selected. Due to the high cost of finan, and other financial constraints, this project was abandoned during the year. 21. RELATED PARTY DISCLOSURES The Haven Enterprlse Company C.l.C The Haven Wolverhampton and The Haven Enterprise company C.l.C share some trustees in common. This entity has not traded since September 2015 and was dissolved on 28 May 2024. 22. ULTIMATE CONTROLLING PARTY The ultimate controlling paty is The Board of Trustee Directors. 23. UNRESTRICTED FUNDS At the year end there is one general fund. It should be noted that, of unrestricted funds of £1841,447 (2023 £2.271,231> the major part is repsented in fixed assets £2,098,13412023 £1,971,366), essentially buildings or refuges from which the charity's seNices and support are provided. These assets cannot readily be utilised to cover working capital requirements of the charlty. Unrestricted net current assets at 31 st March 2024 stand at £245.433 {2023 £799,824). RESTRICTED FUNDS The Property Renovation fund represents monies received for the purchase of capitsl equipment and renovation of the refuges. The other funds are restricted due to specific terms of the grants and mainly relate to the employment of workers to provide specifi'c services. Page 31
Th• Haven Wolverhampton Detalled Statement of Financial Activltles for the Year Ended 31 March 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legaclos Gifts Donations Legacies 82,974 302,066 122,560 278,766 5,000 385,040 406.326 Inv08tment Income Deposit account interest 14,195 4,085 Charltablo actlvlt108 Accommodation charges Grants 1,267,114 1.414,015 1,140,822 1,867.725 2,681,129 3,008,547 Other Income Management and training fees Other income 33,677 1,624 48,152 48,182 35,301 Total Incomlng re8ource8 3.128,516 3,454,259 EXPENDITURE Other tradlng actlvltle8 Wages Other direct costs 109,947 63,704 93,316 17,409 173.651 110,725 Charltable actfvltlo8 Wages other direct costs 1,825,753 1,165,658 1,375,823 877,878 2,991,411 2,253,701 Impalrment of tanglble flxed a880ts Reversal of impairment (177,190 Support Costs Other Wages Premises related Office supplies and services Carried forward 529,189 48,683 153,732 731,604 514,971 14,429 175,167 704,567 This page does not form part of the statutory financial statements Page 32
The Haven Wolverhampton Detailed Statement of Financlal Activlties for the Year Ended 31 March 2024 2024 2023 Other Brought foD4vard Financial costs Freehold property 731,604 16,475 6,026 704,567 11,738 17,782 754,105 734,087 Governance costs Wages - Governance Governance costs Sundry costs - Governance 7,379 32,196 2,947 3.708 11,112 1,823 42.522 16,643 Total resources expended 3,784,499 3,115,156 Net (expendltureVlncom8 1655,983 339,103 This page does not form part of the statutory financial statements Page 33