Dudley Lodge safeguarding thildren servic8S DUDLEY LODGE 143 Warwlck Road. Coventry, CV3 6AT (a company Ilmltod by guarantse) REPORT AND FINANCIAL STATEMETrirs FOR THE YEAR ENDED 31 MARCH 2024 Company No: 03729909 Chaiity No: 1078207
DUDLEY LODGE (a company Ilmited by guarantee) CONTENTS Pag• Tho ChalV8 Report Dlrectors'lTru8teo6' Report 2-10 Independent Audltors, Report 11-13 statèment of Flnanclal Actlvltles 14.16 Balance Sheet 16-17 Ca8h Flow Statement 18 Accountlng Pollcles 19-22 Notog to the Financlal Statements 23-31
DUDLEY LODGE (a company limited by guarantee) THE CHAIR'S REPORT for the year ended 31 March 2024 It is a great privilege to provide this Introduction to our Annual Report and Financial Statements for the year ended 31s1 March 2024. I would like to start by paying tribute to our wonderful staff who remain so committed to the services we provide, meeting the needs of the vulnerable families we serve and in particular ensuring the safety and wellbeing of young children. Our commitment to professional and personal development continues, as does our commitment to regular surveys of staff morale which help to underpin our reputation as a good employer. On that note we also maintain a rolling staff succession plan and a "talent profile" which are important parts of our commitment. The last year has been particularly noteworthy as we successfully opened our thlrd Centre, namely Saxon House in Wolverhampton. We are now able to offer Residential Assessments to up to 27 families at any one time across our three Cenlres in Coventry, Birmingham and Wolverhampton. We have embedded our new Centre, replicating the culture and values we operate across the organisation. Our work across the wider community comes under the title of °HURDLE° whlch enjoys the financlal support of the Lottery 8nd generous grants also from several other charities. We are grateful for that support, and we have developed a strategy which aims to demonstrate that a range of community- based services to vulnerable families Outside our Centres can make a huge difference, whether that be in post assessment support or preventative work. We hope and believe that HURDLE can evolve into a range of services based on better value for money and better outcomes for commissioning bodies and the vulnerable families we support. This project has moved into it5 fourth year, now, and continues to meet all its targets. Part of our commitment to the development of our staff is to strengthen our capacity to expand, diversify and experiment and on that note, we are aiming to launch a pilot project in the forthcoming y88r that seeks to provide assessments for the most vulnerable of parents in a supportive home environment, utilising foster placements. We are acutely aware that moving forward there are significant challenges facing local authorities who are having to work within tighter funding constraints, and we are committed to demonstrating that we can continue to deliver support to vulnerable families which provide better OLrtcomes and best value for money. The year ended March 2024 has been another successful one for Dudley Lodge. A healthy financial surplus has been recorded and that enables us to plough money back into the charity, including our community support work through HURDLE. I would like to take this opportunity to thank all our charitable donors who have supported the work of HURDLE over the last the years. We are undoubtedly blessed with a board of Trustees who are very committed to the continuing success of our organisation as we respond to the challenges and opportunrties ahead. During the last year we were sorry, though, to lose the services of Keith Scrivens. We wish Keith and his family every success and thank him for the contribution he made to the work of Dudley Lodge. l am particularly grateful for the way In whlch the Board and the Executive Team work together based on the values of mutual trust and respect. I hope all those who have an interest in our work find tha following Report 8nd Fin8ncial St8tements of some value and that it furthe our understandlng of the work we do. Peter Roach Chair
DUDLEY LODGE (a company limited by guarantee DIRECTORS'rrRUSTEES' REPORT for the year ended 31 March 2024 The Trustees are pleased to present their annual Directors, report together with the financial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a Directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) published in October 2019. Objects and prlnclpal actlvitl88 of the charlty The ¢harity Is established to promote the physical and mantal health welfare and safety of children, young people and adults, by developing childcare knowledge and by providing parenting assessments, practical support and assistance, education, advice and counselling. whether in accommodation provided by the charty or in the wider community. Prlnci al activities of the The principal activity of the charity Is to provide accommodation to vulnerable chlldren, young people, and their parents for the purpose of assessment and support. At our Centres, Dudley Lodge in Coventry, and Bonner House In Birmingham, we provide a wide variety and a comblnation of various assessment arrangements to meet the needs of children and their families and to provide detailed information for decision making purposes. For example, we offer bespoke residential assessments, a range of parenting risk assessments in the community, day assessments, viability, and PAMS assessments. The Parenting Assessment Manual (PAMS) is a wid&ranging functional and multi- dimensional evidence&based parenting assessment aimed at vulnerable families particularly those with learning difficulties, their children, and their needs. The Directorsrrrustees and the Executive Team demonstrate a strong commitment to continuous improvement in relation to assessment, support, services, accommodation, and facilities. They are committed to the principle of providing a quality workforce, having competent well-trained staff, to provide good quality carelservices for children, young people, and their families. In shaplng our oblectives for the year and plannlng our future activities, the DIrectorsrUStees have considered the Charty Commission's guidance on public benefrt, including the guidance 'public benefit= running a charlty (P82)'. Our Vlslon Dudley Lodge will be the preferred provider of a range of independent high-quallty chlldren's safeguarding services for local authorities, guardians, and advocates. We will enhance our reputation for excellence and innovation by demonstrating skills In dealing with the most complex cases regarding vulnerable children arKI families. Our Mlsslon: To provide the courts and other relevant parties concemed with safeguarding children. with a range of high- quality independent assessments, interventions. and services regarding referred parentslcarers, abilities to keep children safe,. and to assess their capacity and potential for promoting children's continuing wellbeing.
DUDLEY LODGE {a company Ilmlted by guarantse DIRECTORS'ITRUSTEES, REPORT for the year ended 31 March 2024 Our Values: We believe that all children have the right to have their safety and welfare needs met. We believe that all adults have a responsibility to respond to concerns, worries, and doubts regarding the safety and wellbeing of children wherever they may be. We believe that it is people who make the difference in any enterprise, and to give of their best they must be treated with dignity and respect. Equality & Dlverslty Statement Dudley Lodge will place dlverslty at the heart of all actlvities. Our charity values the diverse nature of Its Staff, Board Members and of those using our services. We will ensure that thi5 is reflected in all our practlces, pollcles, and services. Promoting equality and diversty Is a duty our charty takes very seriously and is a responsibility shared by all staff and Board Members. Dudley Lodge's commitment to equality Involves much more than positive action to promote equal opportunities and eradicate discrimination. It means that we are actively committed to encouraging and promoting the richness brought to the charity by the diverse nature of our Staff, Board Members. and Service Users. Fundraislng Standards Informatlon: The charity contracts with a third party to assist in sourcing potential funders and helping with funding applications. The charity does employ a fundraising officer who initiates campaigns and makes approaches to other charities or those who have given explicit consent to receive such contact under the General Data Protection Regulation (GDPR). We have received no fundraising complaints in the year. Ob ectlves for 202312024 and our Ac lev en 1. Expand our core Resldentlal Assossment Servlces by launchlng our 3rd Centre, ènabllng us to reach 200A more famllles. After months of refurbishment, plannlng, recrultment and tralnlng w8 finally opened thé doors of Saxon House to new families on 7th February 2024. Our new centre, with 5 self-contained flats has been positively received by our staff, professionals and our families. We are now able to offer resldentlal assessments for up to 27 families at any one time across our three centres. Iple succeeded in emb8dding our new centre 8nd extended our staff team, replicating the positive cutture we have across the organisation and maintaining good practice. We have received positive staff supleys, and our 'customer' evaluations demonstrate a positive experien for the referring Local ALrthorities.
DUDLEY LODGE (a company limited by guarantee) DIRECTORS'rrRUSTEES' REPORT for the year ended 31 March 2024 2. Hurdle to continue to meet the requirements of the Lottery funding, whilst working towards longer tèrm funding strategies. All required outcomes for our third year of Lottery funding were succe55fully met. Our mi&way evaluation, completed by Charity Fundraising LTD. demonstrated positive service outcames and was acpted by the Lottery in June 2024. We conts'nue to work with Charity Fundraising LTD to strengthen our data analysis for the final evaluation, due for completion in June 2026, which will include a cost-benefrt analysis to ensure our results are relevant to both funders and Local Authority commlssloners. In addition, we are midway through a PhD study being completed in partnership with Phoenix Psychology, examining the impact of Hurdle's model on helping to facilitate change in what would be considered the hardest to reach service users, who are at high risk of repeating cycles of trauma, and having children removed. Expected to complete in May 2025, this research will provide valuabl8 insights into the effectivenes8 of our approach and support future grant applications and local authority funding bids, We are actlvely worklng in line with our fundraising strategy to develop relationships with charltable funders and already have one post-lottery funder pledged and are in the procéss of submitting further blds to secure lonterM funding. 3. To develop a project outline for Parenuchlld Fosterlng Assessment8, worklng wlth at least one Local Authorlty to carry out a pllot. In line with our timing to launch a pilot project within the 2024 financial year, we completed the preparatory work to enter discussions with Local Authorities. We approached our regional Local Authorities in the hope that a pilot could be undertaken in partnership with them,. however, we have so far been unable to secure any commitment for this. We are now considering an akernative model of working with a private fostering agency to develop this service and will move forward with these plans in the new financial year. 4. To malntaln a strong flnanclal posltSon, receivlng a hlgh level of referra18 from authoritles across a wlde geographlcal range In respect of Famlly Agsessments, along with attractlng new authorltles to our 3rd Centre. We developed and implemented a marketing and digital strategy and set actions to attract business from new areas. In conjunction with this we undertook an active marketing exercise for Saxon House, sharing material with Commissioning Teams and arranging visits to the Centre. Our website and social media posts saw a positive response to the news of our expansion, and since opening we have received an increased interest from more northern Local Authorities. Referral levels were strong throughout the year. Despite a major water leak at our Coventry Centre, which resulted in five flats being out of use in March and April 2024, we generated a healthy surplus to continue developing our services whilst remaining financially stable. As we move forward into the new financial year, we face the ongDing the challenge of Local Authorities working within tighter funding constraints and driving prices down. We are also seeing new family assessment centres opening across the Country competing for placement5. We remain committed to carrying our quality assessments and working with Local Authorities to offer effective, value for money services.
DUDLEY LODGE (a company Ilmtted by guarantee) DIRECTORS'rrRUSTEES' REPORT for the year ended 31 March 2024 5. To further develop our Staff Successlon Plannlng and Talent Acquisitlon processes to ensure high quality, commltted teams that can ensure a seamless turnover of staffing. We have a rolling Succession Action Plan in Flace for the organisation, with progress made on the delivery of the plan reported to the People & Governance Committee annually. Work is underway to facilitate overall succession planning. We continued work to implement an Improve Talent Profile and develop a 'live' talent audit that provides a 'moment in time, analysis on the entire team. The Talent Audit has been SUCSSfUllY kept up to date and we have reviewed our performance review process and implemented revised Talent Profiling methods. We are also working to establish a robust action plan to strengthen our capacity to expand, diversify and experiment. We continue to develop more flexible ways of working to attract and retain employees in a competitive era. Some of this work includes implementing compressed hours, job share, and hybrid working. We have continued to attend the Residential Family Centre Forum quarterly and research the jobs market lo compare and galn ideas from others. We continue to approach recruitment creatively. but we recognise residential working is becoming an increasingly drficult area of work to attract potential employees into, with unsociable hours being the biggest hurdle. Plans for Future Perlods 2023-2026 Strate c Priorities We aim to expand our core services by launching our 3rd Residentlal Family Assessment C8ntre In the Midlands, to provide more bespoke, expert Assessments every year. o We aim to secure reliable, longer-term funding for Hurdle, increasing reach & ever diversifying our Support Services according to need. o We aim to provide innovative, cost saving solutions for safeguarding agencies. We aim to offer new support services residentially and have continuous research in place to identify and address gapsl challenges for Local Authorities. The objectives for 2024125 are; 1. Pibt new assessment models. 2. Hurdle to continue to meet the requirements of the Lottery fundlng; 8nd working in line with our Fundraising Strategy. 3. Address workforce challenges and have a posltlve reputation as an employer, providing good salaries, benefits and opportunities. 4. Maintain a strong financial position, recRiving a hlgh level of referrals from authorities across a wide geographical range in respect of Family Assessments. along with attracting new authorities to our third Centre. 5. Stay committed to assessing our use of energy and proactively seek to reduce our carbon footprint and make long temi savings for the charity, along with improving all of our facilities.
DUDLEY LODGE (a company Ilmlted by guarantee) DIRECTORS'rrRUSTEES' REPORT for the year ended 31 March 2024 Financial Review and Results for the Year During the year, we reiVed total income of £5,270k to deliver our services (2023: £4,669k),' an increase of 130/0 on the previous year. Despite increasing financial constraints for Local Authorities demand for residential assessments remained strong throughout the year, and we were able to manage our centres to exceed revised budgeted income levels and generate £4.703k of assessment income (2023- £4,133kJ. Income from other services, including surveillance income, fell slightly to £415k (2023.. £425k) but overall, there continues to be a need for high level surveillance for the families being assessed. Our Hurdle support service received a further £83k from the National Lottery Communty Fund. This was the 3rd year of a &year funding award from the Lottery to support this vital work. A total of £23k in donations was received during the year to fund the work of Hurdle, (see detail in note 1 of the accounts), including a £12k grant from the Eveson Trust to fund the salary costs of one of our Project Workers. We would like to thank all our donors who have supported the ongoing costs and continued development of our Hurdle service. We received a donation of £15k from the Wooden Spoon Soclety to upgrade the children's playground at our Coventry centre. We also received an increased amount of investment income in the year totalling £32k (2023: £5k) due to increases in bank deposit rates. Resources expended on charitable activities durlng the year totalled £5,066k (2023: £4,239k), refiecting the level of assessments and support work undertaken. Direct costs totalled £4,195k (2023: £3,449k), and support costs totalled £871k (2023.. £790k). Staff costs increased by 17.50/0 over the year from £3,370 in 2023 to £3,960k, with the average number of employees increasing from 117 to 133 as staff were recruited for our new centre. We also undertook our annual pay review to ensure that the charity's salary and pension provision remains competitive, and that all our staff are fairly, remunerated and rewarded. The charity spent £175k on fixed asset additions in the year, including £118k on the final conversion and refurbishment costs relating to our new centre propety. A defined pension contribution 'money purchase. scheme is in operation, under the government's automatic enrolment initiative,. employer contributions of £137k (2023.. £117k) were made in the year. At 31 March 2024 total funds were £4,289k {2023: £4,085k). Restrlcted funds totalled £38k, and Special Trust funds totalled £152k. Unrestricted funds increased by £192k in the year from £3,907k to £4,099k; of this £2,690k Is designated leaving £1.409k as free funds, see reserves pollcy below. Reserves Pollcy Reserves are requId to meet the working capital requirements of the charity to safeguard the provision of services should income generating activities be curtailed or delayed. The DirectorSruStees have reviewed the charity's needs for reserves in line with guidance issued by the Charity Commission and the requirements of Ofsted and consider that the level of free reserves needed as of 31 March 2024 would be £1,501k. After allowing for funds set aside for functionavoperational tangible fixed assets, and Hurdle support services (see detail in note 15 of the accounts) free reserves totalled £1,409k as of 31 st March 2024. This is a £92k shortfall in the reserves requirement and the Trustees have set a surplus budget for the new financial year to ensure this is met. Prlnclpal Funding Sources Local Authorities continue to represent the principal source of fvnding for the charity.
DUDLEY LODGE (a company limited by guarantee) DIRECTORS'ITRUSTEES, REPORT for the year ended 31 March 2024 Investment Policy The Directorsffrustees are empowered by the Memorandum and Articles to invest the charity's funds as they see fit. The investment policy requires that surplus funds that are not required for working capital purwses should be invested to provide maximum retum at a measured risk to the organisation. All funds considered to be surplus from time to time are primarily invested on a short term or medium-term fixed interest basis to ensure that the capital value is secure and readily available. To minimise the risk to funds. investments are deposited with several banking institutions who are regulat by the Financial Services Authority and are members of the Financial SeNices Compensation Scheme. A smaller amount continues to be invested in Income Units with the Charities Official Investment Fund. The charlty's Investment Pollcy Is reviewed on an annual basis. Rlsk Management The Directorsrrrustees have a rlsk management strategy that comprises.. 1) The operatlon of a rlsk register and an annual review of the risks the charity may face,. 2) The establishment of systems and procedures to mitigate those risks identrfied on the register,. 3) The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. Procedures are in place to ensure compliance with health and safety of staff, families and visitors to both Centres. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity and., 4) The adoption of a risk-based approach to manaJing bribery risks. Procedures have been put In place in line with our commitment to zero tolerance to bribery based on the guidance in the Bribery Act. structure, Governance and Management Governlng Document Dudley Lodge18 a charitable company limited by guarantee incorporated on 101h March 1999. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. The Directors of the company are also charity Trustees for the purposes of charity law and under the company's Articles are known as Board of Directors. Under the requiremants of the Memorandum and Articles of Association the members of the Board are elected to serve for a pertod of three years after which they must b8 r&elected at the next Annual General Meeting. There are three stsnding Committees.. A People and Govemance committee meeting quarterly A Finance and Audit Committee meeting quarterly A Remuneration Committee meeting annually A Business Development and Project Group also meets on a quarterly basis. A scheme of delegation is in place and day-to-day responsibilty for the provision of the ServIS rests with the Chief Executive supported by other members of the Executive Team.
DUDLEY LODGE (a company limited by guarantee) DIRECTORS'ITRUSTEES. REPORT forthe year ended 31 March 2024 DlrectorlTruste8 Induction and Tralning Directorsrrrustees are recruited via intemet job sites, advertisements placed in Bimiingham and Coventry newspapers and via Voluntary Action Coventry who support the voluntary and community sector in the city. The Directorrrrustee appointment process includes a detailed introduction to the WOTk of the charity by the Executive Team, Centre Managers and the Senior Management team., the role and responsibilities of a DIrectorrUste6 are explained by th& Chair of the Board. During this proc8SS the context within which the charity operates is described with particular reference to the Articles of Association, the Governing Rules and the role of Ofsted in relation to regulation inspection. Following this, interested applicants are invited to tour the facilrties and attend committee and Board meetings before making a commitment to join. New DirectOrsrUStees appreciate this process and are able to contribute to the work of the charity quickly and positively. Pay pollcy for 8enlor staff The Trustees consider the Executive Team comprise the key management personnel of the Charlty in charge of directing, running and operating the charity on a day-to-day basis. The pay of the executive staff is reviewed annually by the remuneration committee and is based on performance and average eaming across the sector. The remuneration ratio (highest paid versus the median salary) is 3.57 {2022123 - 3.29). The rats'o increase was due to more less experienced new starters being recruited on lower scale points. We do not pay less than the UK Living Wage. Statement as to Disclosure of Infomiatlon to Audltor8 M&mbers of the Board of Trustees who are Directors for the purpose of company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 9. In accordance with company law, as the company's DireCtorSrUSte@s, we certify that: So far as we are aware, there is no relevant audit information of whlch the company's auditors are unaware; and; As to the Directorsrrrustees of the company have taken all the steps that we ought to have taken In order to make ourselv&s aware of any relevant audit infomiatlon and to establish that the charlty's auditors are aware of that information.
DUDLEY LODGE la company Ilmlted by guarantee) DIRECTORS,RUSTEES, REPORT for the year ended 31 March 2024 Reference and Admlnlstrativ8 Details Dudley Lodge Solicltors Charlty reglstratlon number Band Hatton Button Solicitors, 63-55 Butts Road, Coventry CV1 3BH 1078207 Brindley Twlst Tafft & James Solicitors. Lowick Gate, Siskin Drive, Coventry CV3 4FJ Company reglstratlon number 03729909 Bankers Reglstered Offlce and Operatlonal address Lloyds Bank, 30 High Street, Coventry CV15RA Management Board of Dlractorsrrrustse8 143 Warwick Road, Coventry, WaNickshire CV3 6AT Mr P Roach - Chair Mrs J Sullivan- Vlce Chair Dr A Adefi'la Ms Z Bailey Mr D Beck- appolnted 11th May 2023 Ms J Flynn Mr P Maddock Mr G Nuttall Dr S Raistrick Dr C Wllson Mr D Churchill - resigned 02nd July 2023 Mr K Scrivens- resigned 20 June 2024 Presldent The Lord Bishop of Coventry The Right Reverend Dr Christopher Cocksworth- Resigned 22 November 2023 Vlce-Presldents Mr R Quinn Mr P Tudor Executlve tsam member8 to whom day-t041ay management of the charlty Is delegated by the Board of DlrectorslTrustea8 Audltor8 Mrs C Davl8- Chlef Ex&cutive Miss K Moore- Operations Manager Mrs H Roebuck- Head of Finance Mrs R White- Qperations Manager Dafferns LLP, One EasoOd, Harry Weston Road, Binley Business Park, Coventry CV3 2UB Company Secretary Mrs H Roebuck
DUDLEY LODGE (a company limited by guarantee DIRECTORS'ITRUSTEES, REPORT for the year ended 31 March 2024 DlrectorslTrust8es' Responsibilities in the Preparation of Flnanclal Statements The Directorsrustees are responsible for preparing the Management Board of Directorsrustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the DirectOrsrUsteeS 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, induding the income and expenditure, of the charitable company for that period. In preparing these finanGial statements, the DirectorslTrustees are required to-. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019., make judgments and estimates that are reasonable and prudent" state whether applicable UK Accounting Standards have been followed. subject to any materlal departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable c¢)mpany will continue in operation. The Directorsrrrustees are responslble for keeping adequate accountlng records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements compty with the Companies Act 2006. They are a180 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the DireCtorSrUsteeS are aware: there is no relevant audit information of which the charitable company's auditor is unaware-, and the Directorsrrrustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The company has taken advantage of the small companies, exemption in preparing the report above. The Directorsrrrustees declare that they have approved the Trustees, report (includlng Dlrectors report) above. Signed on behalf of the charlty's Dlrectorsrrrustees Mr P Roach Chair Dated". 7 November 2024 io
DUDLEY LODGE la company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DUDLEY LODGE Opinion We have audited the financial statements of Dudley Lodge {the 'charitable companty) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, 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 preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccountiThJ Practice) including FRS 102 "The 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 state of the charitable company's affairs as at 31 March 2024 and of its incoming resour$ and application of resources, inclLKling its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and hav@ been prepared in accordance with the requlrements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance wlth International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 basls for our opinion. Concluslons relatlng to golng concarn In auditing the financial statements, we concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on th8 work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signifi'cant doubt on the company's ability to continue as a going conrn for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the reswnsibilities of the Dlrectors with respect to golng concem are described In the relevant sections of this report. Other Informatlon The other infomiatlon comprises the information Included in the annual report, other than th8 financial statements and our auditor's report thereon. Our opinion on th& financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information Is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misststement of this other information, we are required to report that fact. We have nothing to report in this regard.
DUDLEY LODGE {a company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DUDLEY LODGE Mattets on which we are required to report by exceptlon We have nothing to report in respect of the following matters in relation to which Charities (Accounts and Reports) Regulations 2008 require us to report to you rf. in our opinion.. the information given in the financial statements is inconsistent in any material respect with the Trustees, report,. or the charitsble company has not kept adequate accounting records., or the financial statements are not in agreement with the accounting records and r8tums', or we have not received all the infomiation and explanations we require for our audit. Responslbllltles of Trustees As explained more fully in the Trustees, responsibilities ststement set out on page 10, 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 mlsstatement, whether due to fraud or error. In preparlng the financial statements, the Twstees are responslble for assessing the company's abllity to continue as a going concern, disclosing. as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Audltof s responsibllltles for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered mat&rial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, includlng fraud, are InStanS of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these ara capable of deteding irregularitles, including fraud is detailed below: Enquiry of management, and those charged with governance around actual and potential Iltlgatlon and claims; Enquiry of entity staff in compliance functions to Identlfy any Instances of noTr¢ompliance wlth laws and regulations; Reviewing minutes of mé&tings of those charged with governance., Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of signfficant transactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there Is a risk that we will not detect 811 irregularikn'es, including those leading to a material misstatement in the financial statements or non-comp118nce with regulation. This risk increas8s 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. 12
DUDLEY LODGE (a company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DUDLEY LODGE A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. wNw.frc.org.uklauditorsresponsibilitie8. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an auditof s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone otr than the charitable company and the charitable company's Trustees as a body. for our audrt work, for this report, or for the opinions we have formed. Geofftey Cox BA FCA (Senior Statutory Auditor) for and on behalf of Dafferns LLP Chartered Accountants Statutory Auditor One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2UB Date: 7 November 2024 Dafferns LLP is eligible to act as an auditor in temis of Section 1212 of the Companies Act 2006. 13
DUDLEY LODGE (a company Ilmfted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expendlture Account) For the year ended 31 March 2024 Unrestricted Restricted Special Fund Fund Trust Total 2024 Total 2023 Not08 (see page 14) Income from: Donations and legacies Investments 25,746 25,746 31,562 21,764 5,271 31,562 Charitable activities 3 5,117,783 95,107 5.212,890 4,641,813 Total Incomo 5,149,345 120,853 5,270,198 4,668,848 Expendlture on: Raising funds Charitable activities 5 4,973,050 93,370 5,066,420 4,238,914 Total expendltur• 4,973,050 93,370 5,086,420 4,238,914 Net Incomel(expendltur•) before net galns Net gainsl(losses) on Investments 178,295 384 27,483 203,778 384 429,934 (167) Net Incomel(expendlture Transfers between funds 178,879 15,000 27,483 (15,000) 204,162 429,767 15 Not movement In funds 191,679 12,483 204.162 429,767 Reconclllatlon of funds Totsi funds brought forward 3,907,242 25,325 152,150 4,084,717 3,654,950 Total funds carrled forward 4,098.921 37,808 152.150 4,288,879 4,084,717 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 19 to 31 form part of these accounts. 14
DUDLEY LODGE (a company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (Includlng Income and Exp8nditure Account) For the year ended 31 March 2023 Unrestrfcted Restrlctsd Speclal Fund Fund Trnst Total 2023 Notes Income from: Donations and legacies Investments 21,764 5.271 21,764 5,271 Charitable activities 3 4.558,090 83,723 4,641,813 Total Income 4,585,125 83,723 4,668,848 Expendlture on: Raising funds Charitable 8Ctlvities 5 4,181.564 77,350 4,238,914 Total expendlture 4,181.564 77.350 4,238,914 Net Incomellexpendlture) before net galns Net gainsl(losses) on investments 423,561 (167) 6,373 429,934 (18n 11 Net Incomellexpendlture) Transfers between funds 423,394 6,373 429,787 15 Net movement In funds 423,394 6,373 429,767 Reconclllatlon of funds Total funds brought forward 3,483,848 18,952 152,150 3,654,950 Total funds carrled forward 3,907,242 25,325 152,150 4,084,717 The statement of fjnancial actlvltles includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 19 to 31 form part of these accounts. 15
Registered No. 03729909 DUDLEY LODGE (a company Ilmlted by guarantee) BALANCE SHEEr As at 31 March 2024 2024 2023 Notes Flxed Assets Tangible assets Investments 10 2,460,885 4,637 2,374.522 4.253 2,465,522 2,378,775 Current assets Debtors Cash at bank and in hand 12 760,409 2,180,286 812,786 2,096,943 2,940,695 2,909,729 Crndltors: amounts falling due within one year 13 (454,126) (515,28n Net currnnt assets 2,486,569 2.394.442 Totsl assets less current Ilabllltlos 4,952,091 4,773,217 Credltors.. amounts falling due after more than one year 14 {863,212) (688,500) Net asset8 4,288,879 4,084,717 Funds of the charlty: Unrestricted funds General fund Designated funds Revaluation reserve 15 1,453,200 2,618,077 2.379 1,233,157 2,672,090 1,995 15 Total Unrestrlcted Funds Restricted funds Special trust 4,073,656 63,073 152.150 3.907,242 25,325 152,150 15 15 4,288,879 4,084,717 For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under the Charities Act 2011. Directors'tfrustees, responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordan with Sectron 476., The Directorsrrrustees acknowledge thelr responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 16
Registsred No. 03729909 DUDLEY LODGE (a company Ilmlted by guarante8) BALANCE SHEEr As at 31 March 2024 These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Board of Directors'rrrustees, and authorised for issue on 7 November 2024 and signed on its behalf by: Mr P Roach - Chalr The notes on pages 19 to 31 form part of these accounts. 17
Reglstered No. 03729909 DUDLEY LODGE (a company Ilmlted by guarantee) CASH FLOW STATEMENT As at 31 March 2024 2024 2023 Cash flow from operatlng actlvftles Interest paid 19 282,748 (46,658) 442,631 (35,714) Net cash flow from oparatlng actlvltle8 238,090 406,917 Cash flow from Investlng actlvftles Payments to acqulre tangible fixed assets Interest received (160,333) 31,438 {1,159,421) 5.147 Net cash flow from Investlng actlvltlos (128,895) {1,154,274) Cash flow from flnanclng actlvltles Repayment of long-term loans Receipt of long-temi Loan (23,852> (20,027) 659,750 Net cash flow from flnanclng actlvltla8 (23,852) 639.723 Net Increase In cash and cash equlval6nts 83,343 (107.634) Cash and cash equlvalents at 1 Aprll 2023 2,096,943 2,204,577 Cash and cash equlvalents at 31 March 2024 2,180,286 2,096,943 Cash and cash equlvalents ¢onslst of: Cash at bank and in hand 2,180,286 2,096,943 2,180.286 2.096,943 Cash and cash equlvalents at 31 March 2024 The notes on pages 19 to 31 form part of these accounts. 18
DUDLEY LODGE (a company Ilmlted by guarantse) ACCOUNTING POLICIES For the year ended 31 March 2024 The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charitable company's accounts. General Informatlon and basls of preparatlon Dudley Lodge is a charity incorporated and limited by guarantee in England I Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £20 per member of the charity. The address of the registered office is given in the charity information on page 9 of these financial ststements. The nature of the charty's operations and principal activities are to provide accommodation to vulnerable children, young people and their parents for the purpose of assessment and support. The charity constitutes a public benafit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting St8ndard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 , the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted. The flnanclal statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling whlch is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Income recognltlon Items of income are recognised and induded in the accounts when all of the following criteria are met- the charity has legal entitlement to the funds; any performance conditions attached to the item of income have been met or are fully within the control of the charity- there is sufficient certainty that receipt of the income Is considered probable- and the amount can be measured reliably. For legacles, entitlement Is taken as the earlier of-. the date on which the charity is aware that probate has been granted; the estate has been finalised and notification has been made by the executor(s) to the Twst that a distribution will be made- or when a distribution is received from the estate. Receipt of a legacy, in whole or In part, Is only considered probable when the amount can be measurad reliably, and the charity has been notified of the executor's intention to make a distribution. here legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. then the legacy Is treated as a contingent asset and dlsclosed if material. 19
DUDLEY LODGE (a company Ilmlted by guarantee) ACCOUNTING POLICIES For the year ended 31 March 2024 Expendlture recognltlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds includes direct costs of fundraising activities., Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them" and Other expenditure represents those items not f811ing Into the categories above. Irrecoverable VAT Is charged as an expense agalnst the activity for which expenditure arose. Support costs allocatlon Support costs are those that assist the work of the charity but do not dlrectly represent charitable activities and include office costs, governance costs, administrats've payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been alICated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Funds Unrestrlcted Funds Comprises those funds which the DIrectorsrUSteeS are free to use for any purpose in furtherance of the charitable objects. Deslgnated Funds Unrestricted funds include designated funds where the Directorsrustee8, at their discretion, have created a fund for a specific purpose. Restricted Funds Restricted funds comprise those funds where the donor has attached restrlctlons to its application. Speclal Trust Funds In October 2007, the Dunsmoor charity was wound up and all assets were transferred to Dudley Lodge wfth prior approval from the Charty Commission. Based upon the restrictlons Identlfled In the Dunsmoor charity accounts prior to transfer, the monies received were set up as a Special Trust and restricted funds in Dudley Lodge. On 19th August 2010, Dudley Lodge were granted pemisslon by the Charity Commission to usa the monies received from the Dunsmoor Charity to contribute to the purchase 8nd refurbishment of a new residential family Centre. The Special Trust monies were ordered to be set aside each year ft)r ten years, which Dudley Lodge must invest as a permanerrt endowment. Further details of each fund are disclosed in note 15. 20
DUDLEY LODGE (a company Ilmlt8d by guarantee) ACCOUNTING POLICIES For the year ended 31 March 2024 Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset apable of operating as intended. All assets costing more than £1,000 are capitalised. Depreciation of fixed assets is charged by equal instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives as follows.. Freehold land Freehold buildings Leasehold land and buildings Fixtures and fittings Computer equipment 50 years Over the remaining tsrm of the lease 5t0 10 years 3 years Investments Investments are recognised initially at falr value whlch is normally the transaction prlce excluding transaction costs. Subsequently, they Sre measured at fair value with changes recognised in 'net gains I {losses) on investments, in the Statement of Financial Activities if the shares are publlcly traded or their fair value can othenNlse be measured reliabty. Other investments are measured at cost less impairment. Debtors and credltors rocolvable I payable wtthln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Operating leases Rentals payable under operating leases are charged to the Statement of Financial Activities over the period of the lease. Loan8 and borrowlngs Loans and borrowings are initially recognised at the transaction price including transactlon costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less Impairment. If an arrangement constitutes a finance transaction it is measured at present value. Penslons Employees of the charity are eligible for automatic enrolment in the company's defined contribution pension scheme. The contributions charged to the Statement of Financial Activities are disdosed in note 6 to the accounts. There were outstanding contributions of £nil included within other creditors at the year end. Golng concern The financial statements hava been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 21
DUDLEY LODGE (a company Ilmlted by guarantse) ACCOUNTING POLICIES For the year ended 31 March 2024 Financlal Instruments Flnanclal assets Basic financial assets, including trade and other receivables, cash and bank balances are inltially recognised at transaction price. Other financial assets, including investments in equity instruments and which are not subsidiaries. associates or joint ventures, are initially measured at fair value which is normally transaction price. Such assets are subsequently carried at fair value and the changes in falr value are recognised in profit and loss. Flnanclal Ilabllltles Basic financial liabilities, including trade and other payables, and bank loans that are classlfied as debt are initially recognised at transaction price. Debt instruments ar8 subsequently carried at amorts'sed cost, using the effective interest rate method. 22
DUDLEY LODGE (a company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Donatlons and legacies 2024 2023 Dcffiations 25,746 21,784 Below is a list of donations received that are classified within restricted income during the financlal year: 2024 29th May 1961 Charitable Trust Baron Davenport's Charity Lillie Johnson Charltable Trust Other Donations Queens Road Baptist Church st. Barbaras Church The Squire Patton Bogg Charitable Trust Alchemy Charitable Trust The W E Dunn Trust William A Cadbury Charitable Trust Gowling WLG (UK) Charitable Trust Wooden Spoon Society 5,000 155 1,000 216 425 400 250 1.000 300 1,000 1,000 15,000 25,746 Investment Income 2024 2023 Listed investments Other interest receivable 124 31.438 124 5,147 31,582 5,271 Income from ¢harltablo actlvltles 2024 2023 Residential assessment charges Other services National Lottery Communlty Fund grant The Eveson Trust grant 4,702,805 414,978 83.107 12,000 4,132,843 425,247 83,723 5,212,890 4,641,813 23
DUDLEY LODGE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Expendlture on ralsing funds 2024 2023 Fundraising costs Charftable actlvltles - famlly care. assessment and support 2024 2023 Costs dlrectly allocated to actlvltles Staff costs (including ancillary costs) Staff training Premises costs Securty Household expenses Loan interest Depreciation 3,426,132 67.542 500.265 1,910 73,009 46,858 79,772 2.838,141 62,786 339,848 5,082 105,213 35,714 62,430 4,195,288 3,449,214 Support costs Staff costs (including ancillary costs) Office costs Other expenses Depreciation Audit and accountancy Other govemance costs- DirectOrrUStee training etc 534,018 72,904 237,729 9,198 11,387 5,896 531,620 56,417 179.100 7,233 8.810 6,720 871,132 789,700 5,066,420 4,238,914 24
DUDLEY LODGE (a company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 2024 2023 Staff costs Wages and salaries Social security costs Pension costs Other employee benefits 3,315,530 308,530 136,917 201,173 2,802,302 268,349 116,647 182.463 3,960,150 3,369,761 The number of hlgher pald employees was: Taxable emoluments band £60,001- £70,000 Taxable emoluments band £70,001- £80,000 Taxable emoluments band £80,001- £90.000 Taxable emoluments band £100,001- £110,000 Number Numbor The average number of employees analysed by function was: . Provision of family care and as8es8ment Support 118 15 102 15 133 117 Full time equivalent 98 89 Key Management Personnel (Senlor manag8mentl remuneratlon There are three members of the senior management team (2023.. three) and their aggregated remuneration in respect of qualifyiro ServIS was: 2024 2023 Remuneration and benefrts including employers NIC Pension 294,211 13,104 212,577 7,214 307.135 219,791 Dlrectors'rrru8tee8' remuneratlon No Directorsrrrustees received any reMUneraOn for the current or preceding year, however £528 was paid to 5 Directorsrrrustees as expenses (2023: £270 paid to 4 DirectorsruStee8), 2024 2023 Net Incomlng I loutgoing) resources This is stated after charging- Auditors remuneration - audit Auditors remuneration - other services Depreciation 8,500 20,170 88,970 8,250 17,502 69,663 25
DUDLEY LODGE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Taxatlon As a charitable company, Dudley Lodge is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S256 of the Taxation of Chargeable Gains Act 1992 to the exient that these are applied ta its charitable objects. No tax charges have arisen in the charitable company. 10 Flxed assets Computers, flxtures and fittings Freehold premlses Leasehold premises Total Cost 1 April 2023 Addth'ons Disposals 1,958,063 95,051 505,896 599,630 80,282 3,063,589 175,333 31 March 2024 2,053,114 505,896 679,912 3,238,922 Dèpraclatlon 1 April 2023 Charge for year Eliminated on disposal 207,591 9,647 108,550 38,861 372,926 40,482 689,087 88,970 31 March 2024 217,238 147,411 413,388 778,037 Nat book value 31 March 2024 1,835,876 358,485 266,524 2,460,885 31 March 2023 1,750,472 397,346 226,704 2,374,522 Included In freehold premises is land valued at £88,120 whlch Is not depreciated. Leasehold premises were acquired on 3 March 2010 and comprised a 54-year occupational lease of Bonner House, this lease was extended on 27 January 2017 to a 125-year lease from that date. 11 Flxed asset Investments 1 April 2023 Net gains l (losses) on revaluation at 31 March 2024 4,253 384 Market value at 31 March 2024 4,837 Historical cost at 31 March 2024 2,258 Investments consist of.. Charities Official Investment Fund 4,637 26
DUDLEY LODGE (a company Ilmlted by guaranteo) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 2024 2023 12 Debtors Debtors - accommodation charges Prepayments and accrued income 627,679 132,730 665,613 147,173 760,409 812,786 2024 2023 13 Credltors: amounts falling due within one year Bank loan (See note 14) Trade creditors Accruals Tax and social securlty other creditors 26,174 126,555 115,472 158,497 27,428 24,738 244,851 132,241 84,018 29,439 454,126 515,287 2024 2023 14 Credltors: Amounts falling due after more than one year Bank loan 863,212 688,500 The bank loan for Bonner House, is secured by a legal charge over freehold property, and is repayable by monthly inst81ments. Interest Is being charged at 3.280/0 over Lloyds Bank plc Base Rate. In the current year a bank loan was obtalned for the purchase of 96 Tettenhall Road, this is secured by a legal charge over freehold propety, and is repayable by monthly instalments. Interest is being charged at 6.51 OA over Lloyds Bank plc Base Rate. Amounts falling due on the bank loan are as follows: 2024 2023 In one year or less {note 131 Beeen one and two years Beeen and five years Over five years 26,174 27,426 90,652 545,134 24,738 26,174 86,372 575,954 689,386 713,238 27
DUDLEY LODGE (a company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS Forthe year ended 31 March 2024 15 Analysls of charltable funds Balance 31 March 2023 Balance 31 March 2024 Incomlng Resources Gainsl Resources Expended Transfer5 (Losses) Unrestricted fund Designated funds.. Fixed Asset Fund 2,374,522 Capital Building Fund 115,173 Hurdle Support Services.. (Inc. The Paul Tudor Fund)182,395 Revaluation Reserve 1,995 Restricted funds.. National Lottery Community Fund - RC Midlands Region 25.325 Hurdle Support Services.. (Inc. The Paul Tudor Fund) Wooden Spoon Soclety Special Trust Fund 1,233,157 5,149,345 (4,858,591) {115,190) 1,408,721 86,363 <71,173) 2,460,885 44,000 (114,459) 115,000 182.936 2,379 384 83,107 (79,624) 28,808 22,746 15,000 (13,746) 9,000 (15,000) 152,150 152,150 4,084,717 5,270,198 (5,066,420) 384 4,288,879 Unrestrlcted Fund8 The'free reserves" which are available to be spent on the purposes of the charity. Deslgnated funds Fixed Asset Fund is the value of unrestricted funds represented by the tangible fixed assets owned by the charity. These are used for operational purposes and have been excluded from 'free reserves, under Charlty Commission guidelines. Capital Building Fund represents the amount set aside by the Dlrectorsrrrust8es to create addltlonal space and to expand operational facilities. Hurdle Support Services (Inc. The Paul Tudor Fund) are funds committed to support the Hurdle Service which is aimed at helping parents who are at risk of losing their children to the care system or who have already lost their children to the care system. Revaluation Reserve Fund is required by the Companies Act and represenls the amount by which investments exceed their historlcal cost. Restrlcted funds The Restricted Fund represents monias received from The National Lottery Community Fund - RC Midlands Region programme. These funds will assist wlth the provision of the Hurdle community support service. Hurdle Support ServIs (Inc. The Paul Tudor Fund) are funds committed to support the Hurdle Service which is aimed at helping parents who are at risk of losing their children to the care system or who have already lost their children to the care system. 28
DUDLEY LODGE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 15 Analysls of charltable funds (Continued) In the previous year a £15,000 grant received from The Eveson Trust, and subsequent expenditure was accidentally presented as unrestricted funds instead of restricted funds. Due to the income and expenditure both occurring in the previous financial year, the net effect was £nil. Sp8cial Trust Fund - Dunsmoor Fund On 19 August 2010, Dudley Lodge were granted permission by the Charity Commission to use permanent endowment monies, received from the Dunsmoor Charity in October 2007, to contribute to the purchase and refurbishment of a new residential family ntre. Under the Charity Commission recoupment order made at that time, £15,215 had to be repaid to the fund each year for the next ten years to replace the money used. Interest received. which is below £500, has been recorded In unrestricted funds and was fulty spent on family acts'vities. 16 Analys18 of net assets between funds Unrestrlct•d R•strlcted Speclal Trust Total Fund balances at 31 March 2024 are represented by: Tangible fixed assets Investments Cash at bank and in hand Other net assets 2,460,885 4,637 1,990,329 (356,929) 2,480,885 4,637 2,180.288 (356,929) 37,807 152,150 4,098,922 37,807 152,150 4,288,879 17 Operatlng lease commllments Total future minimum lease payments under non-cancellable operating leases are as follows.. Land and Bulldlngs 2024 2023 Within one year One to five years More than five years 7,500 30,000 2,364,482 7,500 30,000 2,371,982 Offl¢e Equlpmènt 2024 2023 Wthin one year One to five years 2.554 2,319 1,709 2,759 18 Capltal commltments 2024 2023 Contracted but not provided for in the financial statements 29
DUDLEY LODGE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 19 Cash flow from operatlng actlvltles 2024 2023 Net movement in funds Depreciation Interest payable Interest receivable Lo8sesl(gains) in investments Decreasel(increase) in debtors Increasel(decrease) In creditors 189,162 88,970 46,658 (31,438) (384) 52.377 (82,597) 429,767 69,663 35,714 (5.147) 167 (325,636) 238,103 282,748 442,631 20 Ultlmate controlllng party The Charity is under the control of its Board of Director8rrrustees throughout the current and preceding year. 21 Related party transactlons There are no related party transactions during the period <2023.. £nil). 22 Penslons and other post-retlrement beneffts Defined contribution pension plans The charity operates a defined contribution pension plan for its employees. The amount recogni8ed as an expense in the period was £136,917 (2023.. £116,617). The defined contribution liability is allocated to unrestrlcted funds. 30
DUDLEY LODGE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 23 Flnanclal Instruments The carrylng amounts of th& charity's financial instruments are as follows: 2024 2023 Financlal assets Measured at fair value through net income l expenditure: Fixed asset listed investments {note 11) 4.637 4,253 Debt Instruments measured at amortlsed cost: Debtors - accommodation charges (note 12) 627,679 665,613 Financial liabilities Measured at amortised cost Bank loans (notes 14) Trade creditors (notes 13) Other creditors (notes 13) (889,386) (126,555) (27,428) (713,238) (244.851) {29,439) The income, expenses, net gains and net losses attrlbutable to the charity's financial instruments aro summarised as follows.. Net galns and losses (including changes in fair value) Financial assets measured at fair value through net income l expenditure 384 Financial liabilities measured at amortised cost through net income l expendlture (46,658) {167) (35.714) 31