REGISTERED COMPANY NUMBER: 03509538 (England And Wales) REGISTERED CHARITY NUMBER: 1073926 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR BIRMINGHAM & SOLIHULL WOMEN'S AID A COMPANY LIMITED BY GUARANTEE French Ludlam & Co Limited Statutory Auditors and Accountants Mountfield House 661 High Street Kingswinford Wesl Midlands DY6 8AL
BIRMINGHAM & SOLIHULL WOMEN'S AID CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Chair's Report Report of the Trustees Report of the Independent Auditors 9 to 12 Statement ol Financial Activities 13 Statement of Financial Position 14 Statement of Cash Flows 15 Notes to the Statement of C¥sh Flows 16 Notes to the Finaneial Stgtements 17 to 29
BIRMINGHAM & SOLIHULLWOMEN'S AID CHAIR'S REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The Board of Tn]5te¢s is pleased to present its annual report together with the financial statements for the year ending 31st March 2024, which have been prepared to me¢t the requirements for a Directors, report and accounts for CoTnpanies Act purposes. The pressures on individuals, families and communities I have reported on in previous years continued to grow, reaching breaking point over this year. The shadow of austerity. the cost of living crisis, increasingly stretched local authority budgets, and rising inequality added to the already acute pressures experienced by the women and children we serve, as well as the statutory and voluntary services they rely on to help them stay safe and build lives free from violence and abuse. In particular. Birmingham the City Council filed a sl 14 order ('bankruptcy') in September 2023. which is impacting on both local authority and voluntary & community services across the city. We continue to see demand for our services significantly outstrip resources, and despite very welcome additional support from Bimiingham City Council just over s/& of the 32,289 calls tnade to our helpline could not be answered. Too many women are still having to call repeatedly to obtain the support they need and deserve. We Continued to see significant increases in the highest risk cases. in the last 4 years the cumulative incrvdse in cases where women are at risk of the most serious harn) was 118% in Birmingham and 145% in Solihull. Over 10,628 women used our community b&sed services, and refuges continued to be full to capa¢ity. In addition to providing the services women and children need, day in day out, BSWA opened its Theresa Stewart Centre to provide early interventions with the aim of supporting women to lake action and preventing escalation of harm. We were delighted to w¢l¢ome Theresa Stewart's daughter and local MP Jess Phillips to open the Centre. Sadly, &s we write this report we already know that the Centre will, in year, be greatly reduced in its offer. This year marked our 45th year of supporting women and children affected by domestic abuse, and all aspects of violence against women and girls (VA WG)- We began to implemcnt our revised strategy, which reaffirnied our vision and sel out our plans for and commitments to delivering excellenee in VAWG services. 202314 yvdr l of this plan, which revicwed and re-framed our services to ensure we remain Current and prepared for the nexi 45 years! Thc board of Trustees adopted the Charity Governance Code (December 2020) and the RACE Equality Code 2020, and continued our work throughout the year to improve our governance to meet their expectations. Thc Board's Governance Improvefnent Plan was implemented to updatc our govcrnance documentation, develop a revised Risk Register and assurance framework, and clarify expectations of Trustees and the Board. Our Nominations and Remunerations Cornmittee is now well established (in addition to our Finance and Audit Committee), taking responsibility for Board recruittnent and development, alongsidc dcvcloping a more rigorous approach to performance. All this has cnhanced the Board's ability to exercise proper oversight and ensure transparency and accountability. At a time when public faith in charities continues to be tested, we are committed to delivering good, current, ethical and appropriate governance. Equality, Diversity and Inclusion remain key priorities for the board, and w¢ ¢ontinue to maintain a Sharp focus on Board demographics, in particular in relation to ethnicity and racc, and age. In a context where scarce Board skills can be hard to find l am especially pleascd lo notc that BSWA ¢ontinues to be able to attract a Tange of skilled and committed applicants. Wc arc grateful to the many talented womcn who have stepped up lo offer their skills and time to support women and children affected by domestic abuse. Alongside our govemance improvement efforts, work to stiengthen wider organisational capacity and capability onlinues. Our strengthened management infrastructure h&8 been tested and is standing up well to the intense pressures referred to above. The very tight recruitment market started to ease up slightly lowards the end of the year, but we continue to face a difficult recruitment markel. do our parlncrs. We see increased demand, with overstretched resources and Shortages of speciali51 staff across the system. Effective partnership working remains a central objective. we will continue to actively engage in strategic and operational partnerships across our area of operation to co-work, influen¢e and SUPFOrt so that women and children have the safety and Space they need to rebuild their lives. I would take this opportunity to thank the Board. Managers and Staff for their work and commitment that has achieved so much throughout the year. It is through this that we deliver high quality provision to all of the womcn and children we have the privilege to support Patricia Mccabe- Chair of the Board of Trustee5 Page I
BIRMINGHAM & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST 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 statetnents of the charity for the year ended 3 1st March 2024. The trustees hav¢ adopl¢d th¢ provisions of Accounting and Reporting by Charitics.. Statement of Recommended Practice appli¢able to charities preparing their accounts in accordance ivith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢¢tiv¢ l January 2019). OWECTIVES AND ACTIVITIES Our Vision, Values and Culture Vision: To create space for wotnen and children subjected to abuse to be safe. take action and be in control. To build a society where violence against women and children no longer exists through developing understanding. challenging inequality and inspiring change. Values: Trust and Integrity Belonging and Inclusion Openness and Accountability Services run by wornen for women Culture: Our commitment to all of the women and children we work with, and to the women that work here is.. We listen We believe your experiences of abuse We prioritise your safety We do what we say We continually learn We recognise your strength Publie Benefit: The trustees have referred to the guidance provided by The Charity Commission regarding Public BenefiL including its guidance when reviewing the charity's aims and obJI1VeS and planning its future activities. Beneficiaries of our services: BSWA beneficiaries are women, children and young people subject to domestic and sexual violen¢¢. Our PrioritieslKey Objectives High Quality Services: We will devclop and deliver high quality services for women and childr¢n that meets their needs and make them safer. We will work to deliver early intervention. prevention and protection. Equality: We will embed anti-discriminatory practice and challenge inequality in all that we do. Influence: Wc will use our expertisc as leading Domestic Abuse specialists to build the understanding that drives cultural change. Profile: We will tell our story and engage others to secure the resources, recognition and supwrt necessary to enable us to achieve our vision. Page 2
BIRMINGHAM & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 OBJECTIVES AND ACTIVITIES Administration and Organisation The board has continued lo meet 4 times a year in addition to the Annual General Meeting, sub-committee meetings and special interest meetings. GoverThance'. Significant progress has been made against our govemance improvement plan, which was developed in line with the Charities Code of Governance and the RACE Code. This ongoing commitment to strong governance ensures that we adhere to the highest standards of accountability and transparency. Trustee Selection: The Nominations and Remuneration Committee ensures that periodic skills audits are undertaken and that trustees are selected b&sed on the analysis of those skills, ensuring that the Skill experience of the board a]ign with ihose necessary for the management of the charity's business. The RACE Code remains a key element of the Trustee Selection Framework, fulfilling our commitment to a diverse and inclusive board. Trustee Induction and Training: All new members of the board reccive an induction pack Containing detailed information about BSWA, its organisalion and its work. They also spend time with the Chair, Chief Executive and senior staff to familiarise themselves with BSWA'S activities and their role and responsibilities as charity trustees. Trustees a]so receive regular training on GDPR, Cyber Security and Safegudrding. Trustees make regular visits to services with opportunities to meet with service users and frontline staff. Day-to-day management: The day-to-d&y managemcnt of the charity is delegated to ihe Chief Executive Officer and Senior Leadership Team. The CEO has ready access to the Chair and other Trustees for advice or authorisation on matters of urgency. Management Structure: Bo&tdOfTrtees , CEO Flèad of . Aeeommodation Head of Coxnmunity.. BasLxd servites HeodofE8rty Inte%ventionÉnd Prèvonlion Head tsfFlna¥L alid Performallco Head of Covernanc&&.' RR Safeguarding: Safeguarding is the responsibility of all trustees. The lead trustee for safeguarding works with the organisalion's designated DSL to ensure that the organisation's safeguardirtg pracliccs are creating a safer culture and keeping women and children safe. Regular updates and reports are provided to the board, ensuring that safeguarding remains a top priority and that our Commitment to safeguarding is consislently mel. A board led Safeguarding Audit takes place annually and is reported to the Board. In¢lu5ion In¢lusion is one of th¢ organisation's ¢or¢ values. Our Commitment to inclusion is reflected in our Trustee recruitment practices. and our staff recruitment and s¢lection strategy which is designed to build a staff team Ihat represents the diverse wmmunities we serve. Our Ra¢¢ Equality Champion on the board takes a lead in ensuring that BSWA promotes racc cquality in all of its work. Page 3
BIRMINGHAIVI & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Demographic data (Ethnic Origin) Ethnic Origin Service users Stsff Board members 38% White British 41.11% 38% Otherwhite 5.36% 25Wo Asian: PakistanilBrit ish Pakistani Asian: Bangladeshil British Bangladeshi Asian: IndianlBritish Indian AsianlAsian British: Chinese Mixedlmultipl e ethnic group: White and Asian BlacklBlack British- Caribbean BlacklBlack British.. African Mixedlmultipl e ethnic group- White and Black Caribbean Mixedlmultipl e ethnic group- White 8nd Black African Other 19.75% 17% 3.53% 4.88% 13% 13% 0.32% 0.990h 4.01% 11% 13% 5.80% 4% 2.96% 0.22% 6.40% 13% Risk management The tru51ccs rcgularly review and SesS the risks BSWA is exp05cd to in all arcas of ils operations and are satisfied that Systems and procedures are in place to manage them. Our Finance and Audit Committee routinely monitors the risk register and provides regular updates to the knard as necc5sary. Principal risks: The trustees have assessed the principal risks impacting thc charity and actions requir¢d'. Loss of key premises Reduction in funding Loss of key personnel Page 4
BIRMINGHAM & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Highlights of the year: Our newly opened Early Intervention Hub otT¢red a safe wotnen-only space for wotnen and children subject to domesti¢ abuse and VAWG where they could drop in for advice and information or attend their booked appointments with specialist staff that hold a wide-range of knowledge and experience to meet their needs. This year was our 45th anniversary supporting local women and their children affected by domestic abuse and VAWG. We launched our 5-y¢ar strategic plan. We engaged with staff and service users in developing the slraiegy whilst ensuring that it aligns with th¢ needs of those we serve and remain true to our core values. We published OUT Prioritising Women Statement to ensure our services remain safe and relevant to women and children subject to abuse. We ¢onvened an anti-racism working group to develop anti-racist practice within the workforce. We partnered with West Midlands Police to deliver a new police initiative, the West Midlands DA desk, to influence responses to women reporting to police &s well as offering early routcs through into services and civil orders services. Our involvement in Birminghatn's DA Board strategy development. Our Early Intervention Hub w&$ officially launched by Jess Phillips MP. No Rccourse to Public Funds Network h&s built a successful and rounded option that saw and offered practical and financial supwrt at the HUB to more than 400 women last year. Established Think Family project within Birmingham Children's Trust, assisting with cultural change. Developed our services in healih-based settings. - Trained 934 professionals. Worked with Bimjingham's Domestic Abuse Strategic Board to draft the new 5-year Domestic abuse strategy for Birmingham. Strengthening our ability to make 8 differen¢e: To strengthen our infraslruclure we have significantly enhanccd our IT and cybersecurity Systems. This includ¢s migrating all our data to a secure cloud-bascd platform. As part of delivering this we have also provided the necessary training for staff on how to effectively use the new systems. Our new finance system SAGE tNTACCT is proving to be very effective and allows for additional and in-depth reporting to Board. funders and assist managers in decision making. Raising funds for interpreting services making it POS5ible to offer our services to all women in their first language. Highlights of our Support at a glance: Helpline received 32289 incoming calls Calls answered andlor calls returned 15549 Almost 7000 contacts with professionals through Helplinc seeking advice Hub Drop In saw 1697 women with 966 Children 309 children wcrc directly supported in HUB case work The Hub case work toralled 490 womcn who received support around children. wellbeing, civil orders as well as 400 women, who are most impoverished and at risk, those with no recourse to publi¢ funds We received 3091 referrals from Multi Agency Risk Assessment Conferences - IRIS worked with 665 womcn referred by GPS - Community- based case work with 4520 women with 5932 children - Refuge5 knused 165 women and 153 childrcn - We saw a 360/0 increase in High Risk cases through MAUC Training has been providcd to 924 professionals in exteTnal training sessions led by BSWA staff. - Provided BSWA foodbank donations on 415 occasions. Next Steps We cntered 2024-25 in the knowledge that many of our core services would be commissioned, soon to be followed by the announcetnent in Birmingham that the financia] situation was far worse than wa5 anticipated, and that the City had Submitted a Sl14. Thi5 resulted in a reduction in thc new cotnmis5ion of 23Yo for dotnestic abuse compared to 2019 and for BSWA this is likely lo be a reductiotk in funding of 36Q/o. This will clearly have a devastating impact on our provision with concerns for our Early Intervention HUB where an average of19 women and their children use ow drop tn during each week. Page 5
BIRMINGHAM & SOLIHULLWOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 However> plans are in place to ensure we can respond to the challenges we will face in relation to our budgets. BSWA will: Undertake a review of the needs of the organisation to best mat¢h the tUre challenges due to reduced resources. Continue to develop our infrdstructure lo produce a high standard in m8nagement of the organisation and its people that ensures the delivery of our strategy and continued high quality in our service delivery. Re-energise our fundraising capacity with & new fundraising and marketing team. Prioritise quality volunteering opportunities with effective coordination to deliver alongside our p&id team of expert staff. We 8re delighted that our new contract with Solihull has been awarded and will be in place to deliver refuge and community-based Servi for women and children. Financial Review: Reserve5 Policy And Going Coneern: The Trustees adhere to a reserves policy. The charity's income is not evenly distributed throughout the year. To support planning and maintain service levels, holding sufficient reserves is prudent. The unrestricted reseTves policy aims to ensure financial robustness and viability. maintaining free reserves in unrestricted funds at a level equivalent to at least six months, operating costs. This level provides ample tim¢ to address any ]x)tential shortfalls. Amount of Reserves Held: As of 31 March 2024, the tota] reserves amount to £5,774,242. Of this, £3,820,499 constitutes free reserves. equivalent to 5.7 months of opcrating costs. Additionally? dcsignatcd Te5ervcs, wtentially re-designated as free reserves, total £1,953,743, which represents an overall total of 8.7 months of running costs. Principal Sources of Funds: The charity's principal funding sources include: Birmingham City Council (BCC) Solihull Borough Council (SBC) - oirice of thc Policc and Crime Commissioner & Ministry of Justice {MOJ) National Lottery STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Birtningham & Solihull Women's Aid is a registered charity. registration number 1073926 and a company limited by guarantee. registration numbcr 03509538. The governing documcnt is thc MeJnordndutn and Articles of Association of the company, which establish the objects and Fowers of the charitable company and is govcrned undcr its Articles of Association. In the event of the company bring wound up? metnbers are required to contribute an amount not exceeding £1. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03509538 (England and Wales) Registered Charity number 1073926 Registered offiee Ryland House 44-48 Bristol Street Birmingham B5 7AA Page 6
BIRMINGHAM & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Trustees P Mccabe Chair of Board of Trustees C A Herity C Bradbury-Jones (resigned 1919123) J L Williams (resigned 1919123) S Hussain (resigned 2917124) S Bcgutn T Nelson S Hut¢hinson J Reid N Randhawa J A Zacheva J L Birch Tre&%urer (appointed 2016ll3) K Kaur Chauhan (apEx)inted 2016123) Company Secretary M R ConttoIIy Auditsrs French Ludlam & Co Limited Statutory Auditors and Accountants Mountfield House 661 High Street Kingswinford West Midlands DY6 8AL Solicitors Tyndalwoods 29 Woodboume Road Edgbaston B17 8BY Bank5 Co-op Bank Colmore Row Birmingham B3 3BA CAF Bank 25 Kings Hill Avenue Kings Hill Wcst Malling ME194JQ Senior Leadership Team during the year M R Connolly. Chief Executive Officer S Dennis. Operations Manager J E Morgan, Finan¢¢ Manager S Islam. Operation5 Manager P K Dhaliwal R Ala5eel Page 7
BIRMINGHAM & SOLIHULL WOMEN'S AID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES Thc trustees (who are also the directors of Birmingham & Solihull Women's Aid for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United King(k)m Generally Accepted Accounting Pra¢ti¢e) including Financial Reporting Standard 102 "The Financial Reporting Standard appli¢able in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable eompany for that period. In preparing those finan¢ial statement5, the trustees are r¢quir¢d 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 statetnents 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 re&sonable accuracy at any time the financial wsition of the ¢haritabl¢ company and to enable them to ensure that the financial statetnents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen¢¢ for taking rc&%onable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: therc is no relevant audit information of which the charitable ¢ompany's auditors are unaware. and the trustee5 have taken all steps that they ought to have tsken to make themselves aware of any relevant audit information and to ¢stablish that the auditors are aware of that information. Rcporl of the trustees, incorporating a strategic report. approved by order of the board of trustees, as the cotnpany directors, on . ..7v..-....i.O.... ...ZJF*. and signed on the iK)ard's behr by: P Mccabe- Trustee Page 8
REPORT OF THE INDEPENDEKf AUDITORS TO THE MEMBERS OF BIRMINGHAM & SOLIHULL WOMEN'S AID Opinion We have audited the financial statements of Birnjinghatn & Solihull Women's Aid (the 'charitable company,) for the year ended 31 st March 2024 which comprise the Statemenl of Financial Activities. the Statement of Financial Position. the Sialemenl of Cash Flows and notes to the financial statements, including a 5umm8ry of significant accounting poli¢ies. The financial reporting fratnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢¢), including Financial Rey)rting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements- give a true and fair view of the slate of the charitable company's affairs as al 3 1st March 2024 and of its incoming resources and application of resources, including its income and expenditurq for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland," and have been prepared in accordance with the requirements of the Cotttpanies Act 2006. Basis for opinion We conducted our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under rhose standards are further described in the Auditors, responsibilities foT the audit of the financial statements section of our report. We are independent of the charitable cotnpany 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 ethi] responsibilities in accordance with these rcquiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conelusions relating to going concern In auditing the financial statements, we have ¢oncluded that the trustees. use of the going concern basis of accounting in thc preparation of the financial statements is appropriate. As noted in the Report of the TTusÉces, B]rminaM City Coun¢il issued a S114 notice (bankruptcy). We believe this will have an impa¢t on the charity as funding will Tcduce, however plans are in place to mitigate this redu¢tion. Overall, based on the work we have pcrformed, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively. may ¢asl significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months froln when the financial statements arc authorised for issue. OUT responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this rcport. Other information The trustees are responsible for the other inforniation. The other inforniation compriscs the information included in the Atknual Report. other than the financial statements and our Report of the Independent Auditor5 thcrcon. Our opinion on the financial statements does not cover the other information and. ex¢¢pt to the extent otherwise explicitly stated in our reporl, we do not express any forn) of assurance conclusion thereon. In connection with our audit of the financial statements, our rc5ponsibility is to read the other information and, in doing so, consider whether the other information is materially inci>nsistent with the financial statcJnents or our knowledg¢ obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent matcri&l misstatements, we are required to d¢termine whethcr this gives rise to a material tnisstatement in the financial statements themselves. If. based on the work we havc performed, we Conclude that thcrc is a material mi55talement of this other information, wc are required to report that fact. Wc have nothing to report in this regard. Opinions on other matters prescribed by tbe Companies Act 2006 In our opinion, based on the work underlakcn in the course of the audit- the information given in the Report of the Trustces for the financial year for which the financial 5tal¢ments are prepared is consistent with th¢ financia] statements- and the R¢porl of the Trustees has been prepared in accordance with applicable Icgal requirements. Page 9
REPORT OF THE INDEPENDEfu AUDITORS TO THE MEMBERS OF BJRMINGHAM & SOLIHULL WOMEN'S AID Matters on which we are required to report by exception In the light of ihe knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified mal¢rial 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 OUT opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches tK>t visited by us. or the financial statements are not in agreement with the accounting records and relums. or certain disclosures of trustees, remuneration specified by law are noi made. or we have not received all the information and explanations we require for our &udit. Responsibilities of trustees As explained morc fully in the Statement of Tnjstees, Responsibilities, the trustees (who ore 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 Iruslees determine is necessary to enable the preparation of financial statcmcnts that are frcc frotn material tnisstatement, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charitable company's ability to Continue as a going ¢on¢ern, disclosing. as applicable, matters related to going concem and using the going concem 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. Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BIRMINGHAM & SOLIHULL WOMEN'S AID Our responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether Ihe financial statements as a whole are free from material misslatemenl, whether due lo fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of &8surance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delecl 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 bLS of these financial statetnents. The extent to which our procedures are capable of detecting irregulatities, including fraud is detailed below= Because of the inherent litnitations 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-¢ompli8nc¢ with regulation. This risk incre&se8 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 lo become aware of instances of mn-compliance. The risk is also greater regarding irregularities 0rrIng due to fraud rather than error. as fraud involves intentional conlment. forgery. collusion, omission or misr¢pres¢ntation. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and as5es5 the risks of material misstatement of the financial statetnents, whether due to fraud or error. design and perform audit procedures responsivc to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a tnaterial misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Identify and assess the risks of material misstalemenl of the financial statements, whether due lo fraud or error, dc5ign and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. Thc risk of not detecting a materia] misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations. or the override of internal control. Obtain an understsnding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circutnstances, but not for the purwpse of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluatc thc appropriateness of accounting policies used and the reasoftableness of accounting estimates aftd related disclosures made by thc trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, w¢ are requircd to draiv attcntion in our wdilor's report to the related disclosures in the financial statements or, if such disclosur arc inadcquatc. to tnodify our opinion. Our Conclusions are based on the audit evidcnce obtained up to ihe d&tc of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluatc thc overall presentation, structure and content of the financial ststem¢nts. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ic. gives a true and fair view). We communicate with those charged with governarkce regardin& among other mattcrs, the planned scope and timing of the audit and significant audit findings, including any 5iEnificant deficiencies in internal Control that we identify during our audit. A further description of our responsibilities for the audit of the financial statements is local¢d on the Financial Reporting Council's website at www.fr¢.org.uklaudilorsiesponsibilities. This description forms part of our Report of the Independent Auditors. Pagell
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BIRMINGHAM & SOLIHULL WOMEN'S AID Use of our report This report is made solely to the charitsble 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 thai we might state to the charitable company's members those matters ive are required to slate to them in an auditors, report and for no other purpos¢. To the fullest extent pemitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a tK)dy, for our audit work for this report, or for the opinions we have fortned. John Richard Fullman (Senior Statutory Auditor) for and on behalf of French Ludlam & Co Limited Statutory Auditors and Accountants Mountfield House 661 High Street Kingswinford West Midlands DY6 8AL Page 12
BIRMINGHAM & SOLIHULL WOMEN'S AID STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restried funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 232,401 232,401 225,678 Charitable activities Community and therapeutic Acwmmodalion 1,335,000 1,894,905 4,657,584 58,666 5,992,584 1,953,571 5,725,403 1,938,491 Other trading activities Investment income Other income 83,799 40,343 20,452 83,799 40,343 20,452 68,374 4,709 19,454 Total 3 606,900 4,716,250 8,323 150 7 982,109 EXPENDITURE ON Charitable #ctivities Community and therapeutic Acwmmodation Fundraising trading 1,163,575 1,981,218 4,620,635 142,906 5,784,210 2,124,124 83,126 5,438,325 1,850,065 89.404 Totsl 3 227.919 4,763,541 7,991,460 7,377.794 NET INCOMEJ(EXPENDITURE) 378,981 47,291 (47,291) 47,291 331,690 604.315 Transfers between funds 22 N¢t movemejht in funds 331,690 331,690 604.315 RECONCILIATION OF FUNDS Total funds brought forward 5,442,552 5,442552 4.838,237 TOTAL FUNDS CARRIED FORWARD 5,774,242 5,774,242 5,442,552 The note5 form part of th¢5e financial statements Page 13
IRMINGHAM & SOLIHULLWOMEN'S AID STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestri¢ted funds Reslricled funds Notes FIXED ASSETS Tangible &ssets 14 2,777,610 2,777,610 2,876,338 CURRENT ASSETS Debtors Investments Cash at bank and in hand 15 16 1,881,861 1,964,385 738,903 1,881,861 1,964,385 852,436 ,613,223 2,102,154 893,284 113,533 4,585,149 113,533 4,698,682 4,608,661 CREDITORS Amounts falling due within one year 17 (558,614) (113,533) (672,147) (997,771) NET CURRENT ASSETS 4,026,535 4,026,535 3.610,890 TOTAL ASSETS LESS CURRENT LIABILITIES 6,804,145 6,804,145 6,487,228 CREDITORS Amounts falling due after more than one year 18 (1,029,903) (1,029,903) (1,044,676) NET ASSETS 5 774 242 5 774 242 5,442,552 FUNDS Unrestricted funds 22 5,774,242 5,442.552 TOTAL FUNDS 5,774,242 5,442,552 The financial statements wcrc approved by the Board of TNsl¢es and auihorised for issue on and were signed on its behalf by: IL(( P Mccabe- Trustee The notes fomj part of these financial ststements Page 14
BIRMINGHAM & SOLIHULL WOMEN'S AID STATEMEIYT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Notes Cash t]ows from operAting activities Cash generated frotn operations Interest paid (114,924) 82,840 1,636,864 51.729 Net cash (used in)/provided by operating activities 197,764) 1,585,135 Cash flows from investing 3Ctivities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Decreasel{incre&se) in InVtments (23.000) 7.804 4.709 1.167.427 55 40J43 137,769 Net cash provided byl(us¢d in) investing activities 178,167 1.177 914 Cash flows from financing activities Loan repayments in year 21,251 26.387 Net cash used in financing activities 21,251 26,387 Change in Cash and cash equivalents in the reporting period Cash And cash equivalents at the beginning of the reporting period (40,848) 380,834 893,284 512,450 Cash And cash equivalents At the end of the reporting period 852,436 893,284 The noles form part of these financial statements Page 15
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period {As per the Statement of Financial Activities) Adjustments for: Depreciation charges Profit on di5P05al of fixed assets Interest received Intcrest paid (Increase)/decrease in debtors (Decre&se)/increase in creditors 331,690 604.315 98,673 109.321 (2.410) (4,709) 51.729 756,683 121.935 (40,343) 82,840 (268,638) 319,146 Net eash (used inyprovided by operitions 114,924 1.636.864 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At31.3.24 Dlet cash Cash at bank and in hand 893,284 40,848 893,284 40,848 852,436 Liquid resources Deposits included in cash Current asset investments 2 102.154 137,769 1,964,385 2 102.154 137 769 1964.385 Debt Dcbis falling due within l year Debts falling due aftcr l year {39,239) 1,044,676 6,478 14.773 (32,761) .029,903 1083 915 1062,664 Total 1,911,523 157,366 1,754.157 The notes form part of these financial statcments Page 16
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CHARITY STATUS The charity is limited by guarantee, incortK)rated in England and Walcs. and wnsequently does not have Share capital. Each of the trustees is liable to contribute to an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The registered cotnpany number is 3509538. The chaiity's registered office is Ryland House, 44-48 Bristol Street, Birmingham B5 7AA. ACCOUNTING POLICIES Basis of preparing the financial statements The financial sialements of the charitable comp8ny. 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 Recornmended 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 l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Going contern The Trustces consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Critical accounting judgements and key sources of estimation uncertainty In the appliLalion of thc accounting policies. Trustees are required to makes judgements. estimates and assumptions about thc carrying value of 8ssels and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevanL Actual results may differ from these estitnalcs. The estimates and underlying assumptions are reyiewed on an on-going basis. Rcvisions to acLounling estimates are recognised the period in which the estitnate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. The are&8 where these judgements and estimates have been madc include: Deprcciation and residual value5 - the Trustees have reviewed the asset lives and associated residua] values of all tangible fixed assets and have concluded that these values are approprtate. Debtors - debtors include amounts due from external organisations and individuals. The charity recognises provisions against specific debtor balances, that are bascd on the age of the dcbtor balan¢e and assessed risk of recoverability. The value of trade debtors in the note is net of the provision for doubtful debts. Ineome 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 rcliably. Donations and similar income are included in income when they are received. Grants receivable from fundeTS for activities in furtherance of the charity's objectives re included in the financial statements of the year when the service 15 provided. Giants rcceivable for specific PTojects/costs are recognis¢d in accordance wilh their individual ierms and onditions. Income is reCols¢d when the charity h&8 entitlement lo the funds which is when any performance conditions oxe met, it is probable ihat the income will be received. and the amount can b¢ reliably measured. Grant income will b¢ deferred if received in advance of meeting performance wndition5 or if the fi]nder specifically states that the income must be 5p¢nt in a future accounting period. Investment income is accounted for when receivable. Trading income is accounted for on a receivable basis. Page 17 continued...
BIRMINGHAM & SOLIHULLWOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - fontinued FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES - continued Income Fees and other sundry income is accounted for in the year in which it is receivable by the charity. No amounts are included in the financial statements for services donated by volunteers. Expenditure Liabilities are recognised as expenditure as soon as ihere is a legal or constructive obligation committing the charity to that expenditure. it is probable that & 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 cl&ssified under headings that aggregate all cost relatcd io the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis ¢onsist¢nt with the use of resources. Allocation and apportionment of costs Where it is possible, costs are allocated directly to the main expenditure categories of the SOFA. Where this is not possible. costs are allOted on the basis of the number of direct and support etnployees. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each a&8et over estimated useful life. Freehold property Short leasehold Motor vehicles Computer equipment 2% oncost over thc pcriod of the le&8e 20tr/0 on cost 33/ooncost Freehold properties are stated in the b&lan¢e sheet al cost less depreciation. Tangible fixed assets are stated at Cost less depreciation. Any expenditure on individual assets with a value below £2,500 i5 written off dircctly to revenue. Depreciation is provided in equal annual instalments over the estimated useful lives of the assets. Impairment of assets At each reporting date assets are reviewed to determine whethcr there is any indication that those assets have suffcred an itnpairment loss. If there is an indication of possible impairment. the recoverable amount of any affected asset is eslitnated and compared with its Carrying amount. If the estimated recoverable amount is lower, the carrying atnount is reduced to its estirnaled recoverable amount, and an impairment loss is imrnediately recognised in the Stst¢m¢nl of Financial Activities. If an impaim)enl loss subsequently reverses, the carry amount of the asset is incre&sed to the revised estimate of its recoverable amount. but nol in excess of Ihe amount that would havc bccn detcrmined had no impairtnent loss been Tecognised for the asset in prior years. A reversal in any impairment Ioss 15 rccogniscd itnmcdiately in the Statement of Financial Activities. Current asset investments Current asset investmcnts arc cash balanccs of guaranteed investment deposils. Goods donated for resale The charity rcceivcs donated goods for resale which it rew8nises at point of Sale as ihe Trustees consider it to be impracticable to recognise such gifts on their receipt due to the large number of small value items receivcd. As such. stocks of unsold donated goods are not valued for balance shcct Purposes Trade debtors Trade debtors ar¢ amounls due for merchandis¢ sold or services performed in the ordinary course of business. Trade debtors are recogniscd initially at the transaction price less any provision for bad debts. Page 18 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMEwfs- continued FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNfiNG POLICIES - eontinued Tangible fjxed assets Cash and eash equivalents Cash and cash equivalents comprise ¢ash on hand and call deposits. and any other short terni highly liquid investments that are readily convertible to a known amount of cash and ar¢ subjed to an insignificant risk of change in value. Trade ¢reditOTS Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the Creditor for at least twelve months after the rep)rting date. Trade creditors are recognised initially at the tronsaction price. Borrowings Bank borrowings are recorded al the initial transaction value less repayments made. Interest is charged to the Statement of Financial Activities as it arises over the lertn of thc loan. Financial instruments Financial assets and financia] liabilities are recognised when the charity becomes a party to the contractual provisions of the inslrumenl. Financial liabilities and equity instrument5 are classified according to the substance of the contractual arrangements entered into. An cquity instrument is any ¢ontracl that evidences a residual inter¢sl in the assets of the charity after deducting all of it5 liabilities. Taxation The charity is considered to pass the tests set out in Paragraph I S¢hedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitsble Mparty for UK corporation tax purposes. Ac¢ordingly, the charity is potentially exempt from tsxation in respect of income or capital gains received within categories covered by Chapter 3 Part I lof the Corporate Tax A¢t 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, 10 the extent that such income or gains are applied exclusively to charitable purposes. Fund accounting Unrestricted funds ¢an be used in accordance with the charitable obJtIveS at the discretion of the trustees. Designated funds ar¢ unrestricted funds set aside for specific purFrt)ses at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the chaTity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposcs. Furiher explanation of the nature and purpose of ¢a¢h fund is included in the notes to th¢ financial statements. Pension costs The charitable Company 0rateS a defined contribution pension scheme. Contributions payable to the haritable ¢ompany's pension schetne are charged to the Statement of Financial Activities in the period to which they relate. The charity operates a defined contribution pension 5chem& Contributions payable to the scheme are ¢harged lo the Statement of Financial Activities in the period to which they relat¢. Government grants Government grants received are credited to the Stat¢ment of Financial Adivities as the relevant costs are incurred. Page 19 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST IVIARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donation5 232,401 225.678 OTHER TRADING AcfiviTIES 2024 2023 Shop income from sale of donated goods 83,799 68,374 INVESTMENT INCOME 2024 2023 Deposit a¢¢ount interest 40J43 4,709 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 A¢livity Community and therapeutic Community and therapeutic Accommodation Accommodation Grants Training Grants Rent 5,989,489 3,095 810,111 1,143,460 5.718,753 6,650 802,024 1.136.467 7,946,155 7.663.894 Grants received, included in the above, are as follows.. 2024 2023 Birmingham City Council Big Lotto Young Women's VAWG worker Big Lotto Celebrating Communities Fund Pritnary Care Trust BCC Vulnerable Adults Commissioning Services Birmingham Community Safety Partnership Police and Crime Commissioner Solihull MBC Public Health Services Children in Need 1,915,143 94,146 1.861,486 15,639 2.604 101,102 ,216,231 21.500 1.750,410 546.248 48.154 296.419 22.500 77,824 15,000 164,326 104,460 1,431,656 21,500 1,495.021 651,694 9,944 360,000 CCG- IRIS Solace Women's Aid The Springfield Project Garfield Weston Smallwood Trust Heart of England NHS Hospital Trust BVSC Nationa] Expr¢5s Foundation Nationwide West Midland Combined Authority Southall Black Si5tcrs St Basils 19,456 175,332 32,000 161,842 9,999 125.001 2.51H) 24,962 7,000 230,778 50,000 7,500 205,500 25.000 Carried forward 6,794,933 6.504.944 Page 20 continued...
BIRMINGHAM & SOLIHULLWOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31ST MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES - continued 2024 2023 Brought forward Bailey Thomas Research Better Together 6,794,933 4,167 500 6.504,944 15,833 6,799,600 6,520,777 OTHER INCOME 2024 2023 Other income 20,452 19.454 Other income includes Ac¢ess to Work claims of £15,550 (2023 £9,309) . CHARITABLE AcfiviTIES COSTS Support costs (see note 9) Direct Costs Totals Community and therapeutic Accommodation Fundraisir]g trading 4,936,322 1,844,752 83,126 847,888 279,372 5,784,210 2,124,124 83,126 6,864,200 1,127.260 7,991,460 SUPPORT COSTS Governance costs Finance Info tech Manage't Total 2024 Total 2023 Community andtherapeutic Accommodation 86,838 25,655 163,104 54,368 81,552 27.184 516,394 172,165 847,888 279,372 579,433 189.981 112,493 217,472 108,736 688,559 1,127,260 769,414 io. NET INCOMFJ(EXPENDITURE) Net in¢omel(expenditure) is stated after ¢hargingl(crediting)-. 2024 2023 Audit Depreciation - owned assets Operating leases Trustees, reimbursed cxpen5CS Defined pension scheme contributions 9072 98,673 109,911 95 200,579 9,492 109,323 123,528 171,520 Page 21 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMEIYTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 ii. TRUSTEES, REMUNERATION AND BENEFITS There were no trust¢¢s' remuneration or other benefits for the year ended 3 1st March 2024 nor for the year ended 3 1st March 2023. Trustees, expenses The total amount of travel expenses reimbursed to trustees during the year was £95, in respect of one trustee. No trustees, expenses were paid in the year to 3 1st March 2023. 12. STAFF COSTS 2024 2023 Wages and salaries Socia] security Costs Othcr pension costs 5,208,380 463,168 200,579 4,548,908 414,202 171.520 5,872,126 5.134.630 Toial Tcdundancy costs for 2024 was £6,902 (2023 £nil). Termination payments are cotnprised of voluntary and compulsory redundan. Payments are recognised in stalT costs once they are quantifiable attd uw>n communication of intention to pay. TheTe was no unpaid redundancy at 3 1st March 2024 (2023 £nil). The averag¢ monthly number of employees dwing the year wa5 as follows.. 2024 2023 Senior management Finance and adtninistration Projectlr¢fuge Shops 15 163 15 167 186 190 The number of employees whose employee bencfits (excluding employer pension costs) exceeded £60,000 was: 2024 2023 £60,001- £70,000 £70,001- £80,000 £80,001- £90.000 £ioo,001-£i10,000 The total employee benefils of the key management personnel of the charity was £385,005 (2023 - £406,937). Page 22 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 13. COIVIPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and Icgacies 225,678 225.678 Charitable activities Community and therapeutic Accommodation 1,087,828 1.817,768 4,637.575 120,723 5.725,403 1,938,491 Oth¢r trading activities Investment income Other in¢ome 68.374 4,709 19,454 68.374 4,709 19,454 Totsl 3,223,811 4.758.298 7,982,109 EXPENDITURE ON Charitable ictivities Cornmunity and therapeutic Accommodation Fundraising trading 818,043 1,712,049 89,404 4,620,282 138,016 5,438,325 1.850,065 89,404 Total 2.619,496 4,758,298 7.377,794 NET INCOME 604,315 604,315 RECONCILIATION OF FUNDS Total funds brought forward 4.838,237 4,838,237 TOTAL FUNDS CARRIED FORWARD 5,442,552 5,442.552 Page 23 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 14. TANGIBLE FIXED ASSETS Freehold propety Short le&sehold Motor vehicles Computer cquipment Totals COST At 1st April 2023 Disposats 3,253,758 199,606 10,944) 23,000 1,500 1500 3,477,864 12,444) At 3 1st Marth 2024 3,253 758 188,662 3,465,420 DEPRECIATION At I st April 2023 Charge for year Eliminated on diSFK)sal 425,935 65,117 170,925 28,585 10,944) 3,592 4,600 1,074 371 1,445) 601,526 98,673 12,389) At 31st March 2024 188 491052 66 687,810 NET BOOK VALUE At 3 1st March 2024 2,762,706 96 14,808 2,777,610 At 31st March 2023 2,827,823 28,681 19,408 426 2,876,338 Individu items of expenditure under £2.500 are not capitalised. 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trdde debtors Othcr debtors Prepayments and accrued income 1,053,020 40 828,801 1,478,258 134,965 1881861 1,613,223 16. CURRENT ASSET INVESTMENTS 2024 2023 Guarant¢¢d investment deposits 1.964 385 2,102,154 Page 24 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST MARCH 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 19) Trade creditors Social security and other taxes Other creditors ArUed expenses Deferred grants 32,761 290,467 121,362 47,477 66,547 113,533 39,239 355,887 104,148 49,526 42,938 406 033 672,147 997,771 The movements in deferred grants is e analysed as follows: 2024 2023 Deferred antS at l April Amounts released from previous yws Incoming resources deferred in the year 406,033 (381,070) 247,220 (117,902) 276,715 Deferred grants at 31 March 113,533 406,033 Deferred grants consists of project grants received in advance. 18. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 19) 1,029,903 1,044,676 19. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand.. Bank loans 32.761 39,239 Amounts falling between one and two years: Bank loans - 1-2 years 50.377 48.507 Amounts falling due between two and five ycars: Bank1005- 2-5 years 162J64 156,750 Amounts falling due in more than five years.. Repayable by instalments.. Bank loans more 5 yr by instal 817,162 839,419 Page 25 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST MARCH 2024 20. LEASING AGREEMENTS Minimum Sease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 122,046 142,255 105.045 162.989 264JOI 268,034 21. SECURED DEBTS The following secured debts are included within creditors.. 2024 2023 Bank lo& ,062,664 1,083.915 A mortgage of £262,500 was obta(ned in the year lo 31st March 2017 to assist in the purchase of a new refuge, The mortgage is repayable by monthly instalments over 20 years and is charged interest at a rate of 2.68750/0 per annum above the bank base rate. On 29th October 2021 a further mortgage was taken out io fund the purchase of a further two refuges. This loan is repayable by monthly instalrnents over 10 years and carries an interest rate of 0.68750/0 per annutn aknvc the bank base rate. The mortgages are secured by fixed and floating charges over the assets of the charity and a first legal charge held over the freehold properties The net book valu¢ of these properlies is £2.752.512 (2023 £2,817.404) 22. MOVEMEIYT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Staff redundancy reserve Capital cxpenditure reserve Capital repairs reserve Matcrnity leave reserve Cost of living reserve 3,488,809 200,000 832.446 467,330 53.967 400.000 378,981 (47,291) 200,000 3,820,499 400,000 832,446 467,330 53,967 200,000 200.000 5,442,552 378,981 (47,291) 5,774,242 Restricted funds General r¢slri¢t¢d reserve (47,291) 47,291 TOTAL FUNDS 5,442552 331,690 5 774.242 Page 26 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - CotInUed FOR THE YEAR ENDED 31ST MARCH 2024 22. MOVEMENT IN FUNDS - continued Net movement in funds. included in the above 8r¢ as follows- Incoming resources Resources expended Movement in funds Unrestricted funds General fund 3,606,91XI (3,227,919) 378,981 Restricted funds General restricted reserve 4,716,250 (4,763,541) 147,291) TOTAL FUNDS 8,323,150 7,991,460) 331690 Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestrieted funds General fund Staff redundancy reserve Capital expenditure reserve Capital repairs Teservc Maternity leave reserve Cost of living reserve 3,284,494 200,000 832,446 467,330 53,967 604,315 (400,000) 3.488.809 200,000 832.446 467.330 53.967 400,000 400.000 4,838,237 604,315 5.442,552 TOTAL FUNDS 4.838,237 604,315 5,442.552 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended MoYeEnent in fund5 UDrestrieted funds General fund 3,223,811 (2,619,496) 604,315 Restricted fund5 General restricted reserve 4,758,298 (4.758,298) TOTAL FUI¥IDS 7,982,109 7.377.794) 604.315 P8ge 27 ontinued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 22. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined w)sition is as follows.. Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 UDrestrieted funds General fund Staff redundancy reserve Capital expenditure rcserve Capital repairs reserve Maternity leave reserve Cost of living reserve 3.284,494 200,000 832,446 467,330 53,967 983,296 (447,291) 200,000 3,820.499 400,000 832.446 467,330 53,967 200,000 200,000 4,838,237 983,296 (47,291) 5.774.242 Restricted funds General reslri¢led reserve (47,291) 47,291 TOTAL FUNDS 4,838.237 936,005 5,774.242 A current year 12 months and prior year 12 months combined net movement in nds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 6.830.711 (5.847,415) 983,296 Restricted funds General restricted reserve 9,474,548 (9,521,839) {47.291) TOTAL FUNDS 16,305 259 15,369,254 936.005 Transfers between funds Within restricted funds.. The Repairs Reserve rcpresents an a]location of general funds to allow for the refurbishing of properties. Maternity Leave Reserve represents an allocation of general funds Éo cover costs associated with staff bcing on matcrnity Icave. Redundancy Reserve repres¢nls a prudent allocation of general funds to allow for any staffing restructure rcquircd following a reduction in income. Capital Exp¢nditure Reserve reprcsents an allocation of g¢neral funds to allow for the pur¢h&8e of additional property &8 needed by the charity. The Cost of Living Reserve represents an allocation of gencral fund5 to allow for &ssistance during periods where living costs in¢re&se significantly. Page 28 continued...
BIRMINGHAM & SOLIHULL WOMEN'S AID NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 22. MOVEMENT IN FUNDS- continued Transfers between funds- continued Restricted funds income relates to the operation of the charity's refuges and the provision of support and advice to the end users. All of the restricted funds income are expended within the year. Any funds in the year that rel&t¢ lo the forthcotning year are carried forward as deferred income with a WJTesponding cash balance or debtor shown in the accounts. General unrestricted funds are used to cover the funding shortfalls by way of a transfer between fvnds. The balance transferred to unrestricted funds in the Statement of Financial Activities represent the balance of restricted fijnd contributions to general costs as agreed with the funding bodies. 23. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 1st M8r¢h 2024. Page 29