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2024-03-31-accounts

St Ba s0 S o} Works with young people

Company Number 03964376 Registered in England St Basil's (Limited by Guarantee)

St Basil's Annual Report and Financial Statements

Year ending 31 March 2024

ST BASIL'S (Limited by Guarantee)

INDEX PAGE
Information 2
Strategic Report 3
Board Report 21
Independent Report of the Auditor 26
Statement of Comprehensive Income 29
Statement of Financial Position 30
Statement of Changes in Reserves 31
Statement of Cash Flows 32
Notes to the Financial Statements 33

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ST BASIL'S (Limited by Guarantee)

INFORMATION

BOARD

Helen Bates Paul Cadman Feizal Hajat OBE Chris Miller Nil Neale Nimmi Patel Raj Ram Heidi Stewart Jean Templeton The Very Reverend Matt Thompson

(chair of the Business Support and Audit Committee)

( chair of the Board of Directors)

(chair of the Service Delivery and Development Committee)

(appointed September 2023, resigned February 2024)

(Chief Executive)

Vicki Stott Stephen Chance

CHIEF EXECUTIVE

Jean Templeton

REGISTERED OFFICE

Heath Mill Lane Deritend Birmingham B94AX

CHARITY NUMBER

1080154

COMPANY NUMBER

03964376

REGULATOR OF SOCIAL HOUSING

H 3994

EXTERNAL AUDITOR

Beever and Struthers The Galmore Building 20 Galmore Circus Birmingham B46AT

BANKERS

Lloyds Bank Pie 3/ Floor 125 Galmore Row Birmingham B3 3SD

SOLICITORS

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

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Fe ST BASIL'S (Limited SA'S (lenient by by Ceerertos3 Guarantee)

STRATICS STRATEGIC REPORT for the year ending 31 March 2024 RRTNOUT Gee Tie ween ering B1 eres Dine

Ths The Board present their report and the Strategic Report together with the financial statements for the year Beart present thelr report and Mie Sowiegic (pct logether witli (ro Gretial sizlemunts for the yaar ended ended 31 March 2024 31 Forel 24. .

Ot St Basils SomeadDes

Si St Basil's is a Registered Provider of Social Housing Basle ly a Registered Provides of Soctel Kouwlng, , a registered Company and Charity providing a holistic x regietared Gompeny ent Chasity providing 2 holletie Fangs range of accommodation and support services for young people aged 16-25 who are homeless, at risk or of pocornmodslion end support earyioce for yourg pacpie eget 1-25 wis are homotooe, at rok or in conflict. We operate as a Psychologically Informed Environment. in coriicl We opergis as 0 @ayoholegicaily infermned Environment

Lagat Legal and Policy Context wud Paley Govtixed

Si St Basil's Ltd, hereafter referred to as St Basils Beal's Lid, hecsaher refered to on Bt Balle , ty is governed by the Regulator of Social Housing (RSH) gowurned by lhy Hegaalur of Sedial Iousing (RSH) regulations and standards, Charity Commission rules, the Companies Act, Ofsted supported housing regulations, and the regulatory frameworks of service commissioners, including those related to housing­ site related support commissioning eucazas fata edbouncie . We St Basils has no statutory obligation to provide services but many of the oka tea a seats nines tt eee meres aes of Whe scevlote services provided are covered by legislation including Children Acts, which apply to all service provision for pruvsidlad are Oomosed fy ligetasion inthaitng Ghidten Mae, lah apoty to ak eervion proncetem fe young young people and children paopls and cfikine. .

Pur Our History itetery

Since Since opening our doors in St Basils' church in Digbeth opaning cur deora in S: Bealls’ ehwrch in Digseth, , Birmingham Oirminghem In in 1972 to young men experiencing 1672 ip young men oxperioncinys homelessness, homelessness, we have maintained the same core objective - to prevent homelessness being part of we have mutiniainad the sane one objective — to preveyt homaliesenses being part of growling growing up up. . in In the 50 years since then, we have extended our accommodation, support and prevention services across the & yonrs eince thon, we have exieesied our ssoormmedeton, cugrert and prevention servicas axose Birmingham and other parts of the West Midlands, including Solihull, Coventry, Sandwell, Walsall, North Werocutamiire Worcestershire and Warwickshire and Warwick, .

Yee We have not only dealt with the presenting needs of some 3,500+ young people each year, but have also hevr e ct onby dealt wifi ihe reeds of cornea 3H gech yoos, but Neve also invested in systemic change, developing the national Positive Accommodation and Support Pathways for young people in 2012, refreshed in 2015 and 2017 and more recently in 2019/20. We have invested in ibaoom'ng becoming a Psychologically Informed Environment since 2011 and now provide consultancy, etardla vaaduetamenPaycholegiaal y InfonnedRatcican Environmenttarde aed eleswee 2014erentand new provkteeesteiateiounnescuneuiteney, training and retringSantoant slippart support to many other organisations to assist them in improving to many other anpunieuijons io gesiel tham In improving thelr their services sarviocy. . We have continually Wis flaws continually oonintitied committed to ensuring that young people have voice and influence our own policies, priorities and services to ensuring that young people heve votss end irirsnos our own paolicicg, prioiies und perviosa and and since 2009 have been commissioned by national government to facilitate National Youth Voice since 2009 have bean commissioned by national ocvernmont % Teciilieta Netionsl Youth Viobos, , Initially initially National National Youth Reference Group and since 2013, National Youth Homeless Parliament until this was no Youth Refarsswe Group wd cinos 2013, Moticnal Youll) Kometme Parflamont until tiie wee no longer longer commissioned by government in 2022, ensuring that government Ministers and those developing connissioned by porernmert in 2022, sneuring thet grzsrunent Minisiees and toes Gavetoping hordes policies and programmes have the benefit of the lived experience of young people who have been end programmes have ihe bene of the lived experisnos of young people whe lieve bea homeless. We We have invested in accredited training and employability programmes and have piloted schemes such as have Invested inaoctediiad our award winning Live and Work Programme to provide affordable, safe homes for young people where outhey they can live, work, learn and earn without having to dual navigate a complex welfare benefits system canardlve, wingwork, Liveleer aandieeeninstningwitheulPega andheving emplaystilityIe redeto Cua! aren progammresnavigate = complexeleend hewe ornwalfars pdcted fr benefitsuraechemes poegyetern. such whee . ex Horrlenarmees Homelessness ls is rooted in poverty rocked in poverty, , Inoquellty inequality and exclusion and St Basils has consistently championed end cecluston aril St Beslls hes consistently chempioned those who have not benefited from our mainstream systems. Tackling inequality and promoting inclusion and and ensuring the diverse needs of young people are met ensultng the divuree needs of young peogie aro mal, , remains one of our six strategic priorities. Enabling pomelnw ore of cur ols sletegia prkisilise. Enabling yourg young people to develop their talents and skills and grow their confidence to move towards study and work peeps to develop fisll teienke and sulle enc grow fralr confidence to move kavenin study and work undarpine underpins our approach our epprosuti. . In 2023/24, 3,718 (3,924 22/23) young people sought our assistance, each one with their own experience, chullonges,In challenges Bewas, , 3718 npetapesd strengths and aspirations h-sa . peoples Our job remains to work with them to remove the barriers which nought ouramesistancs, eeohone wiifl thelr ownegerisrca, prevent achievement and to nurture their talent, skills and confidence to enable them to achieve their ——— potential. surgi:[EEE] end . Our Job remains fo work with fen to remeve the baerfars whilet Wea We will continue this work with young people will cortinve thie wart wih young people, , partner parimers s and suppo and eupportnes rters for for a 22 s long long as it takes 2a Ht takes. .

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ST BASIL'S (Limited by Guarantee)

Our Mission

"St Basils works with young people to enable them to find and keep a home, to develop their confidence, skills and opportunities, and to prevent homelessness".

Our Vision

Our vision for young people is that:

Our vision for St Basils as an organisation is that:

During the next 5 years, we will extend and improve our accommodation and strengths-based progression offer for young people in the West Midlands and take every opportunity to contribute to improvements in mainstream systems, so they work for young people. perce eee Our service developments will include:

We will be the national lead for:

This Annual Report takes us to the end of the first quarter of 2024 and our review indicates that significant progress has been made in achieving the ambition for St Basils incorporated within our organisational Vision. During the year, we revisited our ambition for the year ahead within the context of our 5 year Vision, building on progress made and considering the opportunities and challenges of our operating environment.

Our Business Plan includes our ambitions for the next period.

We are committed to:

We will work towards our vision by:

The more that young people can be engaged in deciding about their own lives, their environment, and their communities, the more likely they are to successfully move into independence. Our challenge is to create active not passive services which engage with the young person in co-creating a journey which provides both challenge and support. Increasingly we are focussing on developing skills and confidence which enable the young person to find a pathway to employment as this is more likely to enable them to secure their independence, increase their choices and avoid homelessness.

The framework for our vision encompasses:

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ST BASIL'S (Limited by Guarantee)

Services for young people

We will continue to provide, improve and develop services, which meet a broad range of needs, responding to young people with high and complex needs but also developing prevention and early intervention services, which target young people before those needs are acute.

Community engagement

We believe it is not possible to provide services effectively to young people from diverse communities unless you reflect those communities at all levels within your organisation. We will promote and sustain our diversity by engaging with the diverse communities we serve as employers, service providers and contributors to local neighbourhoods. We will work with young people supporting and motivating them to play an active part in securing the future of their communities, promoting cross community cohesion and breaking down barriers which might exist.

St Basils - a good place to work

We recognise that our diverse, skilled and highly motivated workforce is central to our effectiveness. We will continue to ensure we have the skills and capacity to achieve our objectives by developing a reputation for quality standards, and by ensuring our employment and development policies and practices make St Basils a preferred place to work. The Board wishes to explicitly recognise the commitment and dedication of the staff team throughout this year, within a very complex and challenging environment.

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ST BASIL'S (Limited by Guarantee)

Geltiinmpos Our Principles to work by ewiGr

Car Our seven esver Principles to Work by, Cyicaidat a Herd by, describe what we believe in and should help us describe what this ceeorthe what ee belloss in ane? chersié vty un demooilie vetted thie Oem means to all who work with us. fey a. seine ence ts welt cae,

1 . Young People First

Fhia. This is at the heart of everything we do ts at he Weert of evenshing we tio. . tly By putting the needs and aspirations of young people as our top puiling the needs and wepitatione of yourg proople as cur ep pricriiy, priority, we will ensure that our policies and practices assist them to secure their futures and realise their we will ensure that cer policies and prectioss aseia! [Nar te soowe thee futties atv) roallee Ghar potential. We will recognise and promote their achievements and challenge negative images which create Deniers barriers and reinforce stereotypes end reinitros gleregtypes . .

& 2. Detrglecty Everybody Counts Courts

We We believe that everyone has an important contribution to make and a viewpoint which matters bulleve tel everyone Nan en im cuntibullon tc metus ant a viewpoint which mutiera. . We will Va will heed adopt an open and inclusive approach which ensures that the views tat Hgiet ied seduenivs ppemeanlt antes ancicnon toed the dea, , ideas Wom, , beliefs betty, , and interests of all our enll Waaiaals ot ll oar stakeholders stakeholders are considered and dealt with in a respectful way. ara consdersd and doult wilft ina respectil wey.

& 3. Strangit Strength and Unity through Diversity aed Unity ieagh Winersits Our diversity is our strength and we are united in our purpose through a collective framework of principles andRaeaee and priorities. Like the pieces in a jigsaw peioriiean. GecansticenttaLike tha pisoes in a Jigrew,team , we are all different but only by fitting together, is the whole picture ebaldahwo ens ell difet e rentced hatteaaesonty byie HitingWeertiogsther, ioeo ihematomseneeewhole piotore complete.

We We believe that our different experiences believe thet ou different exporisnasa, , nfdiie, skills, and heritage better enable us collectively to respond to the and frontage Deties erable us collecthely to respond to the indhviiua individual needs and experiences of the young people who come to us. needs and eeperienoes of th young peapla wha corse fn 1.

& 4. Worktng Working and Learning with Others and Leeming with Oteae

St St Basils recognises that in order to provide the best possible services for young people we must work with esky meoognives thet in onter te provide tha bast poeslic seniors Sr young people we mut wel: with clhore others who have specific knowledge whic have specific Knowledge, , aliills, skills, and expertise in areas where we do not. Within our organisation ant exqperten in ences where we do nel. Within cur ongerisction exdl and in our dealings with external partners In cur doellrge with eatamel peviners, , we believe we can make a greater difference when working we Yelleve we oun multe a greste: difererss efien wurklhg together. We will also share our learning of what works and what doesn't and learn from the experience of A others. aaa a

5. 6. Delivery Delivery and Effectiveness and [itacttvences

Kis It is essential that we are able to demonstrate our effectiveness and that we essential thet ws are-xbie bo damonstrais our affectvoners and that we ‘do 'do what we say we're going to wheal we any wo'rs going to dc’. do'. If we claim that 1 yee chain ust ‘St 'St Bas Beslis ils works works...' ...' we have to be prepared to ev wo hove to Se propered te eviderce idence the outcomes of what we do the qutoomes cf what we do. . Gur Our commitment to continuous improvement means that we must constantly quest comimiirnent to ceniimeas hmpreearent moans that wo mest ouretantiy question ion our effec our eficcihsvess tiveness and anc eiivs strive to improve our services and evidence the to linprive our eerutoee and ovisencs ths i Impact mpact of what we do from our customers of wher we Go fom cur customers’ ' perspect porypoutiey. ive.

& 6. semen Accountability iy

We We are individually and collectively accountable for our work and the promotion of St Basils ate individually end collectively eccauriatle for cur work ant tie premolion of St Basile’ ' objectives and chpautives end pincinies. principles. We recognise the balance between rights and responsibi We reeegnies the belanoo betwsen ngits and respenaibiiities lities and encourage accountability for end encourage eocourtzhiiity for the the promotion of both promoton of Seth. . We recognise our range of accountabilities to all our stakeholders and seek to be Wa reoognins cur range of socountabiiiiice te ell our viskeheldars and seek tc be convistent consistent and open in their delivery. We are regulated and inspected by a range of external organisations ane! open in dyalr delivery, We ore regulated end bwepected by « rerge of extemal orgunkations dnd and welcome this as an opportunity to examine ourselves and check that we continue to deliver weloone ila ne un opperiunlly lo exumine curetves aid check tat we continue to deliver, .

%. 7. Foewece! Forward Thinking Piling

To work with young people means that you have to be prepared to work in a constantly changing padienvironment. environment. Needs certhaneg Kaede,orm , experiences experinmess,at nioneay , and aspirations change and tapsaspirationsnar tace iNeedchange. . We believe that we must not only deal w 2We trbelievei thetont waacmuat tennet ironly dealentw ith young people's needs as they present themselves today but also plan and develop services which will meet $b future needs oo so . It is our intention therefore to remain at the peineny arc meer orem ger spent 'cutting edge ratte ' of services for young people in order phorrreny tcktene stor spas te to assist them to break down barriers prevent avstetneetis.hem t iec broekour intentiondown beniersiheneforepreventingto rerein ing them from achieving their ambitions them et thefom‘cuttingachievingedge’ thelrof esrviossemiitons. for young . peonte in omer

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ST BASIL'S (Limited by Guarantee)

Principal Activities and Geographical Coverage

St Basils is one of the largest organisations working with young people who are homeless or at risk in the country and is the largest regional organisation of its kind. At the 315 March 2024, the organisation operated over 49 sites in Birmingham, Coventry, Sandwell, Solihull, Warwickshire and North Worcestershire providing 613 units of accommodation and a range of prevention, early intervention and support services In addition, we facilitate national Youth Voice through a range of engagement mechanisms. Following the final national Youth Homeless Parliament on 29 March 2022, we secured funding from LandAid and The Berkely Foundation to continue with a national Youth Voice programme during 2023-24 and beyond.

St Basils has long recognised that providing accommodation alone is an inadequate response to the combination offactors associated with youth homelessness. Our services therefore aim to provide a holistic response based on individual need and experience. Our headline figures for the year 2023/24 are:

During 2023/24, we have worked with a range of commissioners to provide services to young people leaving care, young offenders and those with substance misuse issues. During 2019 , the majority of our commissioned services were re-tendered, and we successfully secured contracts for services in all our existing areas of delivery, extending to South Warwickshire. Many of these contracts are subject to retendering in the year ahead. We have operated as a Psychologically Informed Environment (PIE) since 2 0 1 1 . Thanks to funding from the Monday Trust between 2014 and 2020 we have been able to develop, embed and learn from our PIE approach and share that learning with others. Our partnerships with our local mental health Trusts and the University of Birmingham have enabled us to extend our reach, securing further funding during 2023/24 to deliver training and reflective practice to multiple organisations.

Birmingham

St Basils has been commissioned by Adult Social Care to deliver services for young people in Birmingham. We have directly delivered housing related support across our 379 accommodation units in Birmingham and continued with our very successful supported lodgings service for Care Leavers, and unaccompanied asylum-seeking children. St Basils, working with Birmingham City Council, has been commissioned to deliver the Homelessness Reduction Act 201 7 (HRA). The St Basils team assists with prevention and relief duties to young people from the Birmingham Youth Hub. The data for 2023/24 reflects the sixth year of delivery of HRA services. During the year 2,491 young people were referred to our nationally renowned Youth Hub. In December 2019, the Birmingham Youth Hub was commissioned to deliver the Advice and Wellbeing Hub for young people in Birmingham, to deliver holistic, person centred advice and guidance to young people. Of the 2,491 referrals, 1,940 (78%) received an assessment and an Advice and Wellbeing service. Where needed, those assessed also received a statutory assessment under the HRA, which saw 99 young people receiving a Prevention Duty (retaining current accommodation) and 549 received a Relief Duty (found alternative accommodation).

The Youth Hub is the single point of referral to commissioned providers and 6 1 7 young people were newly referred to St Basils' accommodation in Birmingham from the Youth Hub.

604 young people lived with us in Birmingham in 2023/24 and 84% of those who moved on, did so in a planned positive way.

North Worcestershire

During 2023/24, we continued to deliver housing related support in Redd itch, Kidderminster and Bromsgrove in North Worcestershire. The North Worcestershire team provided support to 148 young people during the year with 96% of those who moved on from St Basils accommodation did so in a planned positive way., Worcestershire County Council have extended service delivery under existing contracts for 1 2 months until March 2025 pending a review of their specification and resources and retendering exercise.

During the year we have continued to develop the supported lodgings scheme in North Worcestershire with 100% positive planned move-ans.

Solihull

St Basils was successful in the retendering process from Solihull Council for the provision of a Youth Pathway Service to provide housing related support through a floating support service and accommodation based service in Solihull. The Pathway model which also includes the Solihull Youth Hub works in partnership with the Local Authority to deliver services under the Homeless Reduction Act (HRA) to provide a range of homeless prevention, housing advice and support services to prevent crisis homelessness and reduce the flow of youth homelessness.

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ST BASIL'S (Limited by Guarantee)

During the year 424 young people were referred to our Solihull Youth Hub, 177received full assessment under HRA with 82% receiving prevention duty (retained current accommodation) and 18% requiring a relief duty to find alternative accommodation

The Solihull Youth Hub continues to function as the single point of access into commissioned providers, and also refers to RSL and Private Landlords through our Rent Deposit Scheme.

The Solihull Team provided support to 147 young people during the year including 93 in accommodation services, 59 through floating support and 12 through supported lodgings. 96% of those who moved on from St Basils accommodation did so in a planned positive way.

Sandwell

During 2023/24, we continued to deliver our ground-breaking and award winning Live and Work scheme in Sandwell, first developed in 2015/16 in partnership with Sandwell and West Birmingham NHS Trust. The scheme provides young apprentices and young workers with student style accommodation for a rent of £48.82 per week which enables them to live and work and be benefit free. 39 young people lived in our Live and Work scheme during the year, all working and none claiming welfare benefits. 93% of those who moved on from our accommodation in Sandwell did so in a planned positive way.

During the year we have been working with LandAid, Homes England, Sandwell MBC and Equans to complete development of phase 2 of our Youth Village for young workers, providing 54 self-contained apartments for young workers at rents below local housing Allowance levels. Practical completion of the development was achieved in March 2024 and young people will be moving in from June 2024.

St Basils Family Mediation Service working in partnership with Sandwell Housing Solution Team/ Prevention Service, has worked with 152 young people during the financial year of 2023/24. 71 young people remained within the family home and 81 were supported with a planned move, either into Supported Accommodation, their own Council Tenancy or Private Rented Accommodation; as a result, this has improved relationships/ re-established contact with family and friends.

Coventry

Our services supported 207 young people in Coventry to find and keep accommodation. 90% of those who moved on from St Basils accommodation did so in a planned positive way.

During the year, in partnership with Centrepoint, we were able to secure funding from Coventry Building Society to fund a Youth Hub in Coventry. This opened on 12\ March 2024 and provides a one stop multi­ agency Hub, co-located with Coventry City Council staff, for young people who are homeless or at risk of homelessness.

Walsall

We have continued to provide PIE Training and reflective practice sessions in Walsall.

Warwickshire

During 2019/20, services in Warwickshire were re-tendered and we secured continuation of existing services across the County for housing related support and prevention services. In addition, we secured the contract to provide accommodation-based services in South Warwickshire. We continue to work in partnership with Doorway, a local organisation working in the north of the County, to deliver support across the 5 District Councils of Stratford upon Avon, Warwick, Rugby, North Warwickshire and Nuneaton and Bedworth. During the year 2023/24, we have supported 301 young people in Warwickshire 91 % who moved on did so in a planned positive way.

Youth Voice

We have restructured our internal Youth Voice offer, growing our Youth Advisory Board and developing a House Rep programme. Our Youth Standards, developed by young people, provide an accountability framework for all of our services and our performance against them and our action plans are reviewed by our Youth Advisory Board and our main Board. Working with LandAid and The Berkeley Foundation who have funded a 3 year Youth Voice programme commencing 2023, we have contributed to a range of national consultations and developed a leadership programme for young people. They have published podcasts providing access to learning and development on topics important to young people.

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ST BASIL'S (Limited by Guarantee)

Accommodation and Support Services

Our stock condition and Asset Management Strategy inform our priorities, which continue to focus on health and safety measures, including any recommended fire prevention works. As a result of retendering, the specification for our accommodation services has changed in some cases. We have additional bed spaces for young people with complex needs and in June 2021 have provided a ground-breaking Transitions Hub for serially excluded young people in Birmingham. This work is ongoing.

Our accommodation and support services include:

Non-Accommodation based services:

Family Support, Mediation and Advocacy Service Positive prevention project in Coventry

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ST BASIL'S (Limited by Guarantee)

Charity Fundraising

St Basils is registered with the Fundraising Regulator and committed to the regulatory standards for fundraising. St Basils fully complies with the Code of Conduct. Any fundraising that is conducted by St Basil's follows the guidance set out in the code and anyone who takes part in any fundraising on our behalf is encouraged to do the same. St Basils are also a member of the Institute of Fundraising and attend many of their seminars and events to enhance our expertise.

St Basils has an annual income of just over £17 mi ion and 7% of this comes from charitable giving. St Basil's fundraising has 7 main sources - general public, corporates, trusts, education establishments, clubs, faith groups and legacies. St Basil's main focus for fundraising is through trusts and grants, event fundraising and "charity of the year" partnerships. St Basil's occasionally receive some legacy giving but this is rare. St Basil's does not use the services of professional fundraising firms to raise funds for the charity. St Basil's does not run a lottery or have charity shops.

Fundraising in a post pandemic world does continue to present certain challenges. However, we have seen an increase in our event fundraising in this year. For example, our flagship fundraiser saw a return to pre pandemic fundraising levels. We have also seen substantial corporate support in this year, as well as an increase in one-off donations from individuals. Whilst there is no doubt the cost of living is having an impact on the public's ability to donate to charities, we are hugely grateful to the continuing commitment and support we've received. We are grateful to all of our supporters at St Basils and would not be able to carry out much of the work we do without them. There have been many who have made donations of £5,000 or more, noting that some donors have selected to remain anonymous. We are grateful to them all. Donors of £5,000 or more are in listed in alphabetical order below.

29" May 1961 Charitable Trust

Berkeley Foundation

Charles Burrel 2016 Settlement

Diana Startin Charitable Trust

Every Youth

Goldman Sachs

Hortons Estate

IM Properties

JABBS Foundation

Janet Nash Charitable Trust

John Armitage Charitable Trust Kingswinford & Stourbridge Lions

LandAid Charitable Trust Ltd

National Lottery Community Foundation Noel Sweeney foundation

ORS UK

Oundle School

Roger and Douglas Charitable Trust

Skipton Building Society

St Joseph

Tara Group Whanau Zain Rizvi

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Sy ST BASIL'S (Limited by Guarantee) RSLS Ubdoed bey Camerervtvs} Tignes Progress in Achieving Key Service and Performance Objectives in 2023/24 tn Raining SayCardas om Patrons Cljectes in

eiive Positive outcomes and planned move-on from St Basils siiaes ane planed meen fee oe cheeks

We We know that one of the important factors in whether young people make a success of sustaining lowe thet one of ite impotent feckwe fn wiictiier young pecpe meim o success of sustaming ooermmaten accommodation in the long term is a planned approach to accessing move on accommodation (n the long fern. te & planed epprech (oc acosteng move en HooImTmedsiion. . F It is also a is alec a reliable indicator as to whether young people have engaged with the support process. During 2023/24, 85% of of departures from St Basils were made in a positive planned way in Birmingham, 96% in North Geparyuee tern St Besls ware meds In & polite planed wey In Firminetem, G8% In torit Worcestembire, Worcestershire, 96% in Solihull and 89% in Coventry. This has been achieved whilst continuing to work 86% In Solthull end 20°48 in Corrortry. Tile hee Been achewed while continuing to work wit with young people with complex needs and in some areas for a shorter timescale young poopic will) comphex moods and in some eros for a shorter iimescele, . 48% of those 46% of (home soournmmileted accommodated in Birmingham were aged 16-19; 71% in North Worcestershire and 56% in Solihull. The In Bieninghem were eyed 12-40; 71 in Mort Wercesby shire ond 26% In Golfiul, Tha Lis Life Skills programme and the move-on process have helped us to maintain this level of positive move on Stil programme snd thie mows-cn prooses have halped us to malitteir: Ile lal of josilve move en, . (Deu Our strategic priorities for 2023124 were: ScelhiS gulavtlles Foy SENSE sens

  1. 1 . Provision Provision of good quality accommodation which meets the needs and raises the aspirations of young of good quailty socommaduton ywiilelt mesta te pestle and reine She eopiredionn of young Pope people

    1. Provision Provision and development of prevention and support services which meet the diverse needs of young and Gevelopment of prevention and support serviocs wiiloh meet ite diverse needa of young people
    1. Young people fully involved in setting standards Young people fully imatved In aefing stenderls, , identifying priorities and monitoring services ertiying prantige end monitoring servioss 4 4. 2 St Basils- a good place to work Besile-@good plies to work
    1. Challenging discrimination and promoting diversity and cohesion through employment, service delivery Ghallenging dleatrinstion and premeiing diversity and cohesion though emphiyment, aarvies delivery end and community engagement onmmuniy sagagernent
    1. Opiinining Optimising resources to achieve our strategic objectives ssscuwrecs (c schievs cer sirsiegis oleciives

Cevhea During 2023124, we made progress in the following areas: DOVE, op yeele prague (yt lise Pefieatng seer: Soreticgle Strategic Priority 1 Hrlaclty ¢ ‘Soevaina 'Provision of good quality accommodation, which meets the needs and raises the aspirations of of poo quucRiy oneeeewlelles: Me) mest Fe aeety ome! retess fo manera of woung young people' people’

Strategic Priority 2 Stemegte Wrlesty 2

PTOVHOSE 'Provision and development of prevention and support services which meet the diverse needs of young Eat Srrepasat of proveniios sad mupgpes? eae vooeer lees) Mowe! Shy dhowen ass ay pay people'

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OF ST BASIL'S (Limited by Guarantee) RLS dette! Sy Oleic)

Strategic Priority 3

Beeteste Strategic Priority 4 Myentty €

"E 'St Basils -- A good place to work' Banks — 4 gacd gino fe werk"

‘hhutaglo Strategic priority 5 prlevtey 2

hmteiwag 'Challenging discrimination and promoting diversity and cohesion through employment, deetmeeten sel prey drureset on t eciony that anypiesxcand savin service delivery and community engagement'

Birateg's Strategic Priority 6 *ioriy 2

‘etnieing 'Optimising resources to achieve our strategic objectives' saute ( cebieee aa tetas ofa

Fece P a a e (a I 12

SY ST BASIL'S (Limited by Guarantee) AMIE Ny Mts! ley Seuarserbes)

Denting During 2024/25, we aim to make progress in the following areas: SSRSISS, an ute: 22 candle ceegeees le Po Ualtoeltes ees: Irtagic Strategic Priority 1 Wiehe 4

Provision 'Provision of good quality accommodation, which meets the needs and raises the aspirations of of good Guet ecatemmuntiire, wich neeete lie pete atl fede Cla deainaors off young people' -

Strakogta Strategic Priority 2 Frtectey 2

Strategic Priority 2

'Provision and development of prevention and support services which meet the diverse needs of young people'

Bioxtagic Strategic Priority 3 Prisiity &

"irenag 'Young people fully involved in setting standards, identifying priorities and monitoring services' paced Baty lected in zailting shessiert’s, eat bOp priorities an! mesitorgy wsvvices’

Shatess Strategic Priority 4 Frierriy 4

‘TA 'St Basils - A good place to work' Bemis & grad pipos $3 yor!

P Fane a a e I 13

Sy ST BASIL'S (Limited by Guarantee) Sass ities fey Goerontend

Bartagic Strategic priority 5 subertiy F

Strategic priority 5

'Challenging discrimination and promoting diversity and cohesion through employment, service delivery and community engagement'

Siretagie Strategic Priority 6 Prterty &

Decay 'Optimising resources to achieve our strategic objectives' reac te aailees eer sistegie alfentrss

Peae P a a e 1 1 4 14a

Ot ST BASIL'S (Limited by Guarantee) BARREN flection Dy Cemurrten;

Governance and Reporting Structures

St Basils Board is supported by three committees: the Service Delivery & Development Committee, the itTamiees Business Support & Audit Committee, and the Nominations Committee Geglie GupportBoeri ia siqporeed& Aud? Ganmities,by Sues cunmiteemend the Kominetions nies G oi m miixeevkcn . , In addition, the Board works ean fhehe Beadcaeworks colleborsiively collaboratively with our Youth Advisory Board (YAB) witht cur Youth Advisory Beerd (7/8), , members of which are current St Basils service users members of whic ae auvent St Besia sevice wane. . Each Each committee has a lead reporting officer and links to our Senior Leadership Team and the main Board. In oonmities has 2 heed reporting offlcer mnd links to cur Sevier Leadersfilip Team and Ihe main fcart, tn aédiiion addition to the usual programme of quarterly meetings, the Board has an extended session in October to look to tits usual programms of nuerterly mestings, (he Beant hes en sxdiezled eosaion li Cotober to look at Business Planning and Strategy. Members of the YAB considered their preferred engagement with the main nar St Basils Board and recommended that 2 young people who have progressed through St Basils be appointed arr pio laste, linac} obedience habs (urea ao as Co-Opted Directors on St Basils Go-Opled Ditectore on St Bealls’ ' main Board. St Basils listened to this recommendation and rewln Board 81 Beolle (ketone! to Ile recommemiation emi 2 2 of of the ihe 14 14 Scerd Board member roles are designated for young people moniker roles ero duaigneied for your poopy, . ur Our approach to governance agygresch to gowornarce, , rah risk management and internal control is reviewed annually by our internal auditors management and imtenini onmtrol be pevidwed annually by our Internal eudiiorw and and recommendations for best practice are implemented recornmendalionsfur beei preotice ane Inplotnenited. . For For the financial year ending 31 March 2024 we continued to comply with the NHF Code of Governance 2020, the finaneiai yser ending 31 Marchi 2024 we coriuzsd to comply with the MH Cade of Gavenance 2000, with the following exception:

Yelos Value For Money Statement Por beonaey Sieieeneers)

The The Regulator of Social Housing (RSH) operates a Regulatory Framework which Regulater of Goctal Housing (MEI) operates a Regulatory Framework which registered providers must registenst providers must comply with. The framework sets out four Consumer Standards and three Economic Standards, which includes s a Value for Money (VfM) Standard Value for Money (7) Stender, . This standard was last revised in 2018 and St Basils is operating and This stender! wae lest revieed in 2018 anc St Beale ip opereting and reporting reporting in line with its requirements. in Lins with lhe requirement.

Our Our method of achieving VfM is summarised in our VfM Strategy as follows method of achieving VIM Ww diummerined ln cur VIM Seetegy 2c totoyes: :

Working Working towards our 6 strategic priorities provides the basis for achieving Value for Money {VfM) within foewiie ou 6 sirelegic pricfilus provider Bm bes for ecieving Value for Money (VIM) within St St Basils.

The The desired outcomes for young people deste ovfoanes for young peogta, , our staff and our contract partners covered in the first cor ace? and our contrect perinere covered in fa fivet 5 5 priorities are pricvitisg ara Satanoad balanced by the 6th priority of optimising our resources to achieve our strategic objectives By ths 62) prioriiy of onlimiaing our reecurses fo achievs our sinaiegic eijectives. . St St Basils is continually striving to improve VfM across the organisation through embedding a VfM culture Basie 2 continuelly estving to improve YIM across ifs orgemlestion theeagh eriedding & Vit culase. . Some Same of the key methods used to achieve this are listed below: of ths lay methotis veed to achieve thin arw Nleded behoan

We We have adopted a simple approach to evaluating and deliver hove etlopted a slriple enproach to evaluating end delivering ing VfM which is proportionate to the size of the VIM vttich in proportionstin bo ihe olze of the organlustion organisation and delivers key messages which can be understood by all stakeholders and Cellvers ltsy mastagss which can be undiensipod by oll sakehoides. . Our Business Plan Gur Business Plan Identifies identifies what we aim to achieve each year in relation to these strategic priorities whet we alin to achisve cect ver lt reltlon to thees eratedic orloriies, . Our colleagues Gur colleagues, , young people young people end! and partners are involved in reviewing and delivering our strategic priorities pevtnére are Inwoived In feviewing end daltvering our einebegso prlavlise. . We We have set out our approach in the VfM strategy using a simple framework identifying what we will do to favs cal out our epecoech Ih tio VIIA ewetegy using © elmplo fremewnrll Wentiving whet we wil de wo achieve achieve VfM VIM; ; how we will set about this; the how we will sel about this; ihe itnpect impact we intend to achieve and the subsequent actions we have we intend t ecitleve and tho subesquert eciions we have talon taken or will take to improve based on our learning or will take ts improve beeed cn our iseming. .

Pace P a a e |i 1 1 5

ST BASIL'S (Limited by Guarantee)

To achieve the economic aspect of VfM, St Basils seeks to operate within the context of the following three financial rules.

Description Rule 20/21
Actual
a		 21/22
Actual
a		 22/23
Actual		 23/24
Target		 Hee 23/24
Actual
ad ePaal
Margin Historically set at 3%,the
Board agreed an amendment
to this rule during the previous
financialyearduetothe 4.7% 1.0% 1.8% 1.0% 2.1%
uncertain and challenging
economic environment. The
target is now 1%.
= i
Cash days Maintain cash reserves
sufficient for a minimumof 2
months (60 days)		 98 102 125 67 118
BorrowingI
gearing		 Loan coverage to be a
minimum of 200%(covenant
requirement)		 4,229% 2,142% n/a n/a n/a
os
peestes

Following the repayment in full of the housing loan held with Unity Bank, the borrowing / gearing financial rule is not applicable to the 2023/24 year-end.

In addition to the above targets, the RSH published VfM metrics in 2018/19 to be set as performance measures for each provider, and then monitored and reported in the financial statements. St Basil's performance for each metric is shown in the table below, with the target metrics being St Basils' budget set at the start of the year.

RSH
Ref		 Description 20/21
Actual		 21/22
Actual		 22/23
Actual
.		 22/23
Actual
.		 23/24
Target		 23/24
Actual
Neat
See		 Narrative
ha A significant development,Phase
1 Reinvestment 10.6% 1.7% 1.3% 6.7% 19.1% 2of the Sandwell Youth Village,
was practically completed during
the year.
2a New supply,social
housing units		 8.6% 1.8% 0% % 0% 0%
ave		 No new social units (owned) were
developed or acquired during the
year that are ready to let.
2b New supply,non-
social housing		 n/a n/a n/a n/a n/a n/a St Basils has no non-social
housing.
units
3 Gearing -21% -21.9% -30.3% -20% -25% This method takes cash reserves
into account,as a result St Basils
hasnegative external financing
becauseits cashis larger than its
Gearing,normal
method		 6.2% 5.8% 0% % 0% 0% borrowing (now nil).
The normal method does not
include cash reserves.
EBITDA,Earnings ry Earnings beforeinterest,tax
beforeinterest,tax, depreciation and amortisation
depreciation and
amortisation,
(unadjusted for		 7.8% 6.7% 4.2% 2.7% 3.1%
yaa
as		 (EBITDA) is an alternative
method to assessing financial
performanceinstead of margin.
major repairs) Prag!
eeeert
4 EBITDA (adjusted
for major repairs)
compared to		 9,018% 2,153% n/a n/a n/a n/a
eo		 Thismetrichas no relevance to
St Basils due to not havingany
borrowing.
financing costs
Following the repayment of the
Loan cover 4,229% 2,142% n/a n/a n/a nla housing loan, there is no metric to
report for loan cover fortheyear.

P a a e 1 1 6

ST BASIL'S (Limited by Guarantee)

RSH
Ref		 Description 20/21
Actual		 21/22
Actual		 22/23
Actual		 23/24
Target		 23/24
Actual
we		 Actual Narrative
E pmetTE
5 Cost per unit £20.3k £19.3k £20.2k £20.2k £23.1k
Vay
a
1
gas
ae eh		 el St Basil's high unit cost reflects
the turnover of high needs
tenants,who receive high quality
; accommodation and support.
Operating margin­ Although St Basil's overall margin
6a social housing -6.2% -2.9% -1.9% n/a -4.6% has improved from the previous
lettings only year, it still remains significantly
6b Operating margin­
overall		 4.7% 1.0% 1.7% 1.0% eer 2.1%
ens
mee ae		 lower than registered provider
norms, which would include both
general needs and supported
social housing providers.
The ROCE has increased slightly
Return on Capital I ie this year due to the increased
7 Employed 3.8% 0.9% 1.2% 0.9% 1.3%
or a
af		 margin,but still remains below
sector norms.
(ROCE) Ee pee
ed
ee

St Basils is committed to demonstrating VfM to our stakeholders in terms of our continual improvement in service delivery performance.

Changes in Welfare Reform and the socio-economic environment continue to place considerable strain on opportunities for young homeless and those at risk of homelessness to access and receive the support they need to live independently.

The future funding model of supported housing is critical to our ability to sustain services and accommodation for the most vulnerable.

St Basils will continue to review the financial cost, impact and effectiveness of services delivered to support our service users. These reviews will be ongoing and in the context of demonstrating achievement of our mission for the benefit of stakeholders. Detailed plans are presented to the Board each year for consideration as an integral aspect of the annual business plan.

Risk Management

The Regulator of Social Housing requires Registered Providers to have an effective risk management framework to ensure compliance with their regulatory standards. St Basils' Board determines the risk management framework and risk appetite for St Basils, which includes an annual review of the effectiveness of the system of internal control in place. The review focuses on the significant risks that threaten the organisation's ability to meet its objectives and provide reasonable assurance of the safeguarding of assets.

St Basils takes a proactive approach to risk management and has initiated a number of monitoring and reporting systems which form the overall risk assessment process. These include our Annual Active Governance Programme where Board members visit our service areas, the individual risk assessments undertaken for each young person coming to St Basils, annual health & safety risk assessments of our buildings, and KPls are monitored by the Senior Leadership Team on a monthly basis.

A Risk Register is maintained and updated each month. When risks are identified they are allocated a scoring based on probability and impact, control actions are identified and responsibilities for actions are determined. The Risk Register is regularly monitored and reported to the Business Support and Audit Committee.

Risk reports are presented at each meeting of the Business Support and Audit Committee and the Board. The Business Support and Audit Committee also receive regular internal audit reports prepared by St Basil's internal auditor on a wide range of functional areas and processes. The annual internal audit programme is agreed at the beginning of the financial year. Our current internal auditor's approach to internal audit is a systematic risk-based approach, with the aim of aligning their work closely to St Basils' own analysis of the key risks.

The internal audit programme regularly reviews our risk management systems to apply a degree of independent scrutiny and to ensure best practice. Recommendations arising from the reviews are used by the Board as a means of ensuring a robust control environment, as well as continuous learning and improvement.

P a a e I 17

ST BASIL'S (Limited by Guarantee)

Key Risks/Challenges to the Business Plan in 2024/25

The key risks to delivering our Business Plan include:

The above items are perceived risks and they have not materialised and / or they are being actively mitigated.

During the year, St Basils faced the following risks, which were/ are being mitigated by risk monitoring and planning by the Senior Leadership Team.

P a a e I 18

ST BASIL'S (Limited by Guarantee)

Key Relationships

A Business priority for St Basils is to develop and maintain productive relationships with government, local, regional, and national stakeholders, as well as our commissioning bodies, delivery partners, employees, young people and the local communities we work with. We are particularly committed to working with others who can assist us to deliver our strategic objectives, including Health commissioners, Police and Crime commissioners and those tackling youth unemployment.

We achieve development in partnership with Investment partners registered with Homes England. During the year we worked with Equans (previously Engie) to secure funding to refurbish three buildings to provide further housing for our Young Workers Village in Sandwell. Funding for the development has been received from, Homes England, Sandwell NHS Trust, Sandwell Metropolitan Borough Council, LandAid and other funders. Our consortium of social landlords helps provide good quality move-on accommodation for young people when they are ready to leave St Basils. We continue to develop productive partnerships with employers to enhance employment opportunities for young people.

Our service delivery partnerships continue to expand to enable us to work with specialists in their field including Forward Thinking Birmingham (FTB), Sandwell and West Birmingham NHS Trust, University of Birmingham, Birmingham City University, Birmingham and Solihull Women's' Aid, Members of End Youth Homelessness; all actively contributing to our work.

St Basils continues to prioritise our commitment to working with local partnerships in all our areas of operation as well as with regional and national membership organisations and related Task groups, including Housing Birmingham Partnership; Solihull Homelessness Reduction Board; North Worcestershire Steering Group; Support Provider Fora; Birmingham Social Housing Partnership, and West Midlands Housing Association Partnership. Our Chief Executive is Chair of the West Midlands Combined Authority (WMCA) Homelessness Taskforce and is a member of the Government's National Advisory Panel on Rough Sleeping and Homelessness.

Financing Structure

A surplus is reported in 2023/24. Going forward it is projected that surpluses will be achieved which will contribute to ensuring financial viability and investment in achieving St Basil's strategic priorities, in particular, improvement of existing accommodation and the prevention of homelessness.

Income

St Basil's main sources of income are as follows.

2020/21 2021/22 2022/23 2023/24 Rents & services charges 37% 40% 42% 44% Support contracts 41 % 45% 44% 41% Charitable donations 13 % 7% 6% 7% Other sources 9% 8% 8% 8% SS Cash Flow Net cash inflow from operating activities was £622k. Net cash inflow from finance activities was £76k and outflow from investing activities £579k. The overall net change in "cash and cash equivalents" was an increase of £119k .

Rent Policy

The Rent and Service Charges at each of our accommodation schemes are set at affordable levels in line with the Government's Rent Standard.

Out-Turn

The surplus for the year shown on the statement of comprehensive income (previously known as the income and expenditure statement) is £364k (2022/23 £252k surplus).

P a a e I 19

ST BASIL'S (Limited by Guarantee)

Reserves Policy

Our policy is to maintain reserves for three reasons:

The Balance sheet as at 31 March 2024 shows reserves of £5,838k, £5,682k of which are unrestricted

St Basils has a strategic objective of holding cash reserves that are sufficient to cover at least two months of expenditure. At the end of the year being reported, St Basils held 1 1 8 days' worth of cash reserves.

Fixed Assets

Details of changes to fixed assets are set out in notes 8 and 9 of the financial statements. In 2023/24 capital expenditure on properties amounted to £4,076k and on non-housing assets £168k.

Approved by the Board on Monday 16 September 2024. and signed on its behalf by

Feizal Hajat Chair of the Board

P a a e I 20

SF ST BASIL'S (Limited by Guarantee) PASILS (aliens Ney Merny tee)

ROAM BOARD REPORT for the year ending 31 March 2024 FST tov thes wea wordiin BT awh Die

Bead Board Members Mersitere

Board Members

dateThe The Board Members set out below have held office during the whole of the period from 1 April 2023 to the date of this report unless otherwise stated ofBowedthly Membersnepert unless sel culotterwisebelow huveutube:held : ofties during the whale of tho period fom { Aji 2223 $0 the

Helen Bates Ordinary Director Paul Cadman Ordinary Director Stephen Chance Co-opted Director feaei Feizal Hajat OBE Keget OBE « Oviinery Ordinary Director Director Cttria Chris Miller Wailer « Ootinary Ordinary Director Crestor Nil Neale Ordinary Director Nimmi Patel Ordinary Director is} Raj Ram Ram + Gpilpary Ordinary Director Sweeter Heidi Stewart Ordinary Director, appointed September 2023, resigned February 2024 Vicki Stott Ordinary Director Jean Templeton Executive Director The Very Reverend Matthew Thompson Nominated Director

ented Internal Controls Assurance Cauisks Sesuraives

The Board of St Basils has voluntarily chosen to include a statement on internal controls within the published eatGoon accounts. ee ee ee ones ae & St Basils Board has overall responsibility for establishing and maintaining the whole system of internal Basis Scavd New cversl responabilty fr establiating ed mentoring the wide eyeter of Intemal control and for reviewing its effectiveness.

The Board recognises that no system of internal control can provide absolute assurance or eliminate all The Beerd recognises thet np syetam of intemal cowiel can provide abeoiute sszuraroe or olenirats al risk. The system of internal control is designed to manage risk and to provide reasonable assurance that hoyites key business objectives and expected outcomes will be achieved wives objectivesedadand yaaaansectal ar cutoomeser nea wil barheaactieved.aad fag . It also exists to give reasonable f cisovocaarwgreismapraenlerpaulets to ghe memuhlc sanweno assurance about the preparation and sbeut (he preperation and reiiebillity reliability of financial and operational of financial med eperstional information and the safeguarding infomation and the safoguarting ef of the Company's assets and interests ihe Company'macets ard lntero s tn. . ih In meeting its responsibilities, the Board has adopted a risk-based approach to internal controls which are meeting te reponebililes, te Soerd hee adopted 2 righ-tesed aparoed to Interne! controle which are embedded embedded within the normal management and governance process willin the nevmal managernedt ond governance process. . This approach This epproseh Inciudes includes the regular the regular evaluation of the nature and extent of risks to which the Company is exposed and is consistent with Turnbull ee principles ea. . ee ee ere ee ee

The process adopted by the Board in reviewing the effectiveness of the system of internal control, together with2 with some of the key elements of the control framework acreof tie keyLoncommana of the wontrol fremework indhalea: includes: © • Identification and evaluation of risks Ehutlisaites and ovelietion Menage! Management responsibility has been clearly defined for the identification, of seh evaluation and control of significant risks. There is a formal and on-going process of management review in each area of the St aSenfo Basil's activities apreseeotivitice. merospo . This process is co-ordinated through a regular reporting framework by the Executive Tile n nitiityaceprocess heels beencoordineiedgra Guerty definedhaerefer@ reguier tie We n iiicstion,epartingoceer try somat frenev e weikh a ationbyabner enthe contolEawcutiveof Director and Senior Management Team. o • Gomntortng Monitoring and corrective action ane oxrructibes action, There is a process of control self-assessment and regular management reporting on control issues to peg the Senior Management Team and the Business Support and Audit Committee hi vegaseiakin- nape erential onder emai ie . The risk management on control enues syniememmaipeto system provides the basis for development of the internal audit plan to ensure internal audit reviews gong toh ai vc atarsnaepcecothipebin pe Conunities.The rinkmanagement provide advice and/or assurance in critical areas of risk to St Basil's operations. These reviews are provide providesadvice andlerthe beslar e foruranceGevelepmendth critical areseof the of rink toquiltSt Aeell's plen f o p e nsure intemalrations. Thesesaxiftreviews reviewsare roporled reported to the Business Support and Audit Committee and actions arising from these reports are t ihe Business Guppert and Adil Gommittes end sections eriging fom these neporlp ere eoviewod reviewed regularly roguisriy • Control environment and control procedures ‘The The Board retains responsibility for a defined range of issues covering strategic, operation, financial Boa? rebel neeeorelbllity fo = defined renge of lsewes covering sreiegin, cpamiion, franca! and compliance issues including treasury strategy and new investment projects. The Board has adopted fhe the code of governance axis oF governance ‘Competence 'Competence and Accountability end Acoountebiity’. '. lie Its approach to risk management and internal agploect ty rick management and intemal eaeuranos assurance is embedded in its Business Plan and disseminated through policies ls embatded In lis Business Mun and dleverinetad througl pollcies, , procedures, induction procedurae, Inducdion, , training, training, injemal internal communication and working practices. communicationand working practioes. • bitewmeiien Information and financial reporting systems inenotal Financial reporting systems are considered by the Board in October each year as part of the priorities mut Timanoil rapoating apeles for for the coming year tite comingreportingyess. . ya Detailed budgets are then prepared and approved by the Board annually in March Se t ailedes arnbudgetsconsideredwe thentsp prti e pared Boedandin Clehvllerapprovedeachby theyenGeenan pertarnuyatly of tie protien‘nm Maren, .

Peace P a a e I LS 21

SFE ST BASIL'S (Limited by Guarantee) SUEY ULiratod fi Qeaarercine}

Both the Business Support and Audit Committee and the Service Delivery and Development Committee revtow review and report to the Board regularly on key performance indicators and financial forecasts. The Company has invested in the development of a bespoke performance evaluation system which will eevist assist in the monitoring of service outcomes &andthe reportmonSovingts the Boardof ewvies roqucv i ertycemes.Piped . tara esse tires, Te The The Interral internal control framework and risk management process is subject to regular review by the external centro! rare ere Nek murergement preaeea in suleot 90 roger povisey bry Osa agerre! litters: Internal Audit firm who are responsible for providing independent assurance to the Board via the Audit fin wie are raapenelbie § previting Indeparden! aseuenes b hs Boer! vie ie Genius Business Support and Audit Committee Bupocrt aid Audl Cornttilties. . Based on the work during the year the Internal Audit opinion Beaed on te work during is yaw (ho Inerel Auch opinion ip is that the Company has adequate and effective risk management Yad the Company hes adequsrte ari aflsctive rok managecnent , control and governance processes coma and quvemuinon processes te to manage the achievement of the organisation manage Br achievened of the crgarileation’s 's objectives objectives. . The Board confirms that there is an on-going process for identifying, evaluating and managing Siesinifoant significant risks faced by St Basils eeerisksetefaust byeeSt aeSeelis. . This process has been in place throughout the year under review This promeeeeeheepeesbean in pieseefrougheuleeihe youroeunceree , up up to the date of the annual report te tie date of Tic armuel impart, , and exe! fe is regularly reviewed by the Board reguiariy nevicwert by thie Boer. . Song Going Concern Cosson Under the governance requirements, the Board confirms that after making enquiries they have a reasonable expectation that the entity has adequate resources to continue in operational existence for the foreseeable pegsfuture. future. Accordingly Aooordingly,shes , they continue to adopt the going concern basis in preparing the accounts. fey Pcpcondlimeeanay nprto adept theeegoing haoconcer lnetsalt Inpapreparigy Geebeccounte. Ths The Directors have a reasonable expectation that the Company has adequate resources to continue in Dinectocs have © sasnorebie expectation thet te Compeny has etequata resources ‘0 continues in operation operational existence for the foreseeable future, being a period of twelve months after the date on which enfstacce tov ths foresscable future, being 2 evict of twelve motte ef ihe dots on witch ‘ihe the report and financial statements are signed nepeet oysl financial ebeterende . For this reason, the Company continues to adopt the going soroani concern basis in the financial statements. bina In ie Reade ebitem e eernty.slpned. For tile reezen, the Gompany continces 4 adopt fie galy

Directors Directors Indemnity Inekanwiliy

The The Directors have confirmed that St Basils has Directors Directons heve confined that St Gaulle hes Direchoes' ' and and Officers Officer’ ' inourenes Insurance in in place. pines. Pings Financial Instruments aetruonentes & St Basils does not have any abnormal exposure to price Seale Geos tax have ery ebrommal exposure % price, , credit, liquidity credii, liquidtty, , and cash flow risks arising from and aselt fiew rlates ertwing from fe its trading activities reading ectivitice. . St Basils does not enter into any hedging transactions and no trading in financial 5{ Gagis dows not enter info any hedging fransactiona and ne ireding In finenciel instruments Instrumentste is undertaken uncestatean, . Rauatty, Equality, Diversity and Inclusion (EDI) Statement Blversty and nalasien (S00) Stateenat

St St Basils is committed to creating an environment for staff, young people and partners that is free from all forms Baalls it comratied tt cweling an envircurient for ete, young poopie end pertrore that a fee teen all fearna of discrimination and where diversity is embraced. It is our intention to do our very best for each young person, enauring diporimureiion ensuring that the service St Basils offers is fair thet (re antosrvigewhersOf Saaledivereltyoffersls embraces.je fez, , incluetve, inclusive dace , appropriate appropyizée,cbr , and relevant for each individual. St Bas and pelevertnedfor eeol portWallviduel, oyStBestseee ils also wants to ensure that staff are provided with the best employment opportunities and that they are enabled % to contribute effectively to the work of the organisation sontiuis afiscively tt the work of the cepmnisation, . — We We take a human rights-based approach by which we mean that human rights can be protected by adherence take ¢ human righis-beesd approach by whist we isan thet hurnen rigitts oan be protected by adfheranss {o to underlying core values of fairness underlying cone values of falmsea, , respect respect, , equality aquailiy, , dignity and autonomy dignity and wutonanmy, , or FREDA or FRED. .

Gur Our strategic priority cireiagio prontty “Challenging 'Challenging discrim diewiminetion ination and promoting equal und promoting equeciy, ity, divers divuwelly, ity, inclusion inclusion and cohesion end cohesion throught through employment, service delivery and community engagement', highlights our commitment to ensuring empicyment, sentes dsiteny and community sagegement’, highlights our oommiment te anauriyg t hat hat gal staff and young people are provided with a safe and secure environment in which they can thrive and develop and young psopic ars provided wih 2 sats aot neous environment in whiclt they con thtes end deveicg, , and where all aspects of their welfare is protected. Our Equality, Diversity and Inclusion Policy and strategy operationalise our commitments and our progress is reported annually and through our KPls.

We believe that by establishing a workforce, which reflects the diversity of our young people and wider end witer Vie communities at all levels bellewe thei os , we are better able to respond to the diverse needs of young people who are homeless 2 wertdoroe, whit) reflects thea dhveratty of cur people or or at risk. We We recognise we have work to do in relation to under-represented groups throughout the organisation recegmiss we have work to éo in reletion & undersapreserted groun rougheu! the onganienticn. , particularly in relation to our Board. We have recently obtained the RACE Equality Code Quality Mark and set partoulaty In reladion fe our Board. We have renently obtuined! the FACE Equality Code Quulliy Mark and oxt £0 an act ection ion plan to ensure St Basils continues to put a strong focus on race equality and we are actively seeking plan to ensure 81 Belle continues to pul = strong fdaun on reo aquulliy end we ero eolivety esallng ‘m to improve the diversity of our Board. lerese the dlvevalty of our Board,

aos Race Equality Statement Geusilhy Street

& St Basils is committed to the values of fairness Heals ia commiind to the valves of fairness, , equal opportunity and equity equal apporiuniy end equilly. . We have a proactively zero­ We hows « proactively mroiolermtce tolerance approach to discrimination, in all its forms and w approach ip dincriminzion, in efi tis forms and wall ill seek to apply these values by challenging and eaek io epply theese values by challenging end eilrmineting eliminating it where it exists M where R exits. . We understand the need for allyship which means we can no longer simply be not racist; at St Basils we will poe endeavour to be an actively and visibly anti-racist organisation that is also an a beamepat dypalpon eonp teal einen on oyep gli y to all nngine GEM groups (Global nl placnsag oie rebarthie Ethnic M hesjortty} ajority hada ). The Board are also iyBoard Jereare alecD c corentited ommitte serine d paped to tackling racial inequality at all Senior levels reps fI m equaltyaldtre #t pheef) SatSerdor k e rais,r , whloh which includes cosyIncludbar e s maitng making clear paths for progression for ethnic minority deer pelts for progression for ettirle mierty g groups roups to Board level positions te Beard lees postions. .

Puaa P a a e I {mR 22

ST BASIL'S (Limited by Guarantee)

Young People and Staff Diversity comparison

The graphs below show the ethnicity and religious diversity amongst across our staff and the young people we served during the year.

----- Start of picture text -----
ethnicities, e A Asian sian 10% Mixed ethnicities, d StaffMixed eStaff thnicitiessic 8%__——Ethnicity Ethnicity , s,/-O thnicities, ther Other ethnicities, 2% 2%4 ethnicities, Othe Mixed r ethniethn7% Mixed 11 ethnicities, cicities, % it other11% ies 7% , = 4 YP yp > Ethnicity Ethnicity
10%
thnicities,
Asian ethnicities, no. NE
» lams
8lack
22
Hindu,Buddhist,ueenls Buddhist, 1% a. 1%a 1% _ 1 ~ Jewish,Staff Staff 04% ewish, Religion Religion Other,4% Other,. 4% Hindu,O.l vind, 0.1% .. Buddhist,YP YP Religion uddh1st,O.l ~Religion % Rastafarian, Rastafa we r' /.,0.1% O __ Other, the 1% r, 1%
sikh, 298 Sikh, 0.4% 2-1 —) 9-136
Prefer not Prefer notMustim, to to say, say, 10% \ |
11% " beg Prefer not to say,
No: 25
|
----- End of picture text -----*

The graphs below show both the gender and sexual orientation diversity amongst our staff and of the young people we served during the year.

----- Start of picture text -----
Staff Staff Gender Gender YP VP Gender Gender
Transgender, Transgender, 0% 0% Transgender, Transgender, 1% 1%
Prefer Prefer not to 3 Gay ay Ornotto or Lesbian 3% 3% Lentatfsay, sStaff Sexual Orientation ian, ay, , Sexualae_ - -Bisexual, Orientation Real, 1 1% % Bisexual, Bisexu YP VP Sexual Orientation SexualGay4% Gay or Les oesian 4% Orientation bian .= , other, Other, 1% 1%
4% 4% Prefer Prefer not to not to say, say,
596 5%
----- End of picture text -----

P a a e I 23

SY ST BASIL'S (Limited by Guarantee) WAU CLaedintt by Qereeeerinesd

‘Gar Our detailed data allows us to review our diversity at each level within the organisation and this is being Gaaled Gals olows us i reviow Gar Gherdly ul cach lee! wilin Om ciganiaadon an0 Wis fe being mentored monitored closely by the Senior Leadership Team to ensure our entire workforce reflects the young people we Gossly by the Sen Conteratip Team io ensure our srdira weekionds refieets the young people vee pore, serve.

The The ethnic diversity data for our Board ( 1 1 members) is shown below e@inte Chuureily deta for gur Neerd (14 menibery) le nioww: Kole :

We We recognise we have work to do in relation to under-represented groups throughout the organisation, mongiise we heve wore to do In vleion undernepresented groupe fhyoughiodt fie orgenisatlen, partouimly particularly in relation to in raliction im : 4

Sheahtlty Disability Statement Metasent

St St Basils strives to fulfil our statutory responsibilities towards disabled people set out in the Equality Act 2010 Bealls wishvex to fulfil our statutory reeponsibiltiss irewards dlaabled peoples eet out in the tquallty Act AHO and and the Public Sector Equality Duty 2011 by (he Mublkc Sector Equality Duty 2 1 by: :

St Basils is a DWP 'Disability Confident Employer' which reflects our work around proactively employing and retainingieee retaining disabled people diseliedba SCE Seespeaple. . This involves actively looking to attract ‘Mia involvesSeedentacitvelyDeslenesloaltingeaet etrect,vebaces , rocult recruit and retain disabled people by providing vor eeend nteincomentdisgiiledpeseetalypropiaGnaby providinga very best. eevery a fully inclusive and accessible recruitment process and supportive environments to enable people to be their b e . aaa RE Smee SE a een Sate nremsenls Te reine jeeps 18 SE. Our workforce data over the year shows that 9% of staff reported having a disability. For our young people, 40% 40% reported having a disability voperted having a cieadilty, , and therefore it is crucial that St Basils and thers‘ore K je crustal thet St Saake’ ' staff and Board are appropriately ete end Sour! ere sppropitetaty telred trained and informed to enable the needs of all of our young people to be fully met. ard ionved to anata the needs of all of cor pourg people tie be fully met

2an% Staff Engagement Statement Saguenet Rereet

Gur Our 'Principles to work by Principles to wart a” ' embrace colleague engagement in our service delivery and development. entrees cdlleague sgegement in our ewvies dellvery ext Geeslopment ' ‘Everydotly Everybody oounts’, counts', ' "Gt St Basils - A Good Place to Work Basile ~ A Good Plage te Work ' and 'Strength and Unity though Diversity end Strength and Uirtty though Divarsity' ' reflect the value we place reflect the valiee we place on on an inclusive and engaged workplace em indosive and engeced wortpleos. . We are a Psychologically Informed Environment and as such, Wo oe 2 Peychologinglly (nfonmail Envroriment end ae such, engagement and reflection are at the heart of our practice. Formal engagement takes place through an elected EseEntployes Employee Council and supports a matrix of engagement at all levels within the organization anny Cound]eta peeandporalsupports a metintongsof attenengegement atpryafl jewelsecirparvdthinagethe yer hg . Ditoctera Directors review cheersreview Kis KPls on staff performance and well-being, and regularly review both business plans and policies to ensure that on ofl performenca ard wel-being, end reguiuty sview bot! busiriess plane and policies to aneure thet get staff needs are properly taken into account. We plan to carry out a staff engagement survey during 2024/25 to needs ere property talan into eopourl We pian ts omry cut a steif engegomant survey Guting 2024/26 Ip receive receive feedback on organisational and local issues feedback on orgentastionnlsev local tewes. .

P Peace a a e I |= 24

ST BASIL'S (Limited by Guarantee)

—— Disclosure of Information to the Auditor

In the case of each of the persons who are directors of the Company at the date when this report was approved:

Board Members' Responsibilities

Legislation requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of the entity as at the end of the financial year and of its income and expenditure for the year ended on that date. In preparing those financial statements, suitable accounting policies have been used, framed, to the best of the Board's knowledge and belief, by reference to reasonable and prudent judgements and estimates and applied consistently. Applicable accounting standards have been followed. The Board is also required to indicate where the financial statements are prepared other than on the basis that the entity is a going concern.

The Board is responsible for ensuring that arrangements are made for keeping financial records with respect to the St Basil's transactions, its assets and liabilities and for maintaining a satisfactory system of control over accounts and transactions. The Board is also responsible for ensuring that arrangements are made to safeguard the assets of the entity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Compliance with the RSH Governance and Financial Viability Standard

The Board confirms that the Company complies with the requirements of the Governance and Financial Viability Standard applicable for the year

Approved by the Board on Monday 1 6" September 2024 and signed on its behalf by

'es Feizal Hajat Chair of the Board

P a a e I 25

SET ST BASIL'S (Limited by Guarantee) SLL ID CL Doeeic) [oay Chazarrgs cree}

INDEPENDENT REPORT OF THE AUDITOR for the year ending 31 March 2024 RD SRULATMOPOGRT GFAMINOTNE ter Rie eer nding i ert

Sinko Opinion

We have audited the financial statements of St Basils (the 'company') for the year ended 31 March 2024 which pedecumprise comprise the Statement of Comprehensive Income safesmgykthe Statement!debtor prcf p Soca!Coniprelioraiye wontonInnore, , the Statement of Financial Position fwegw end fa@ faaFlrencls!tareFoellian, he , the Statement of tho Btetomertain perof Changes in Reserves, the Statement of Cash Flows and notes to the financial statements, including a summary pipe of significant accounting policies eit gmat aati mated . The financial reporting framework that has been applied in their preparation nt pera oth manna arte aay der is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Sandisoto Standard applicable in the UK and Republic of Ireland opolicetieew andin Uniesthe KegonUK and RepuitlisReourtegofog Standard,San " (\iniied (United Kingdom Generally Accepted Accounting inchidingKingdomFREGenerally102 "Th AoorpiedRnenola!AcoqunRepor tin gg Practice).

Gesle Basis for opinion fr opinten

We We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and appl conducted cur wad! In aooordanne wil; Intornretlons! Sterlands on Aadiing (UK) (MiA2 (UND) and wpplicabte icable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit ef of the the financial statements section of our report. We are independent of the trust in accordance with the ethical financial steternenty section of cur epert. We as Independent of tha trust In scoortainos with fhe steel requiremeny requirements that are relevant to our audit of the financial statements in the UK Uhet az redevent to cur audit of (he finenciel sielianenia in Ore UK, , inducing including the FRC Ihe PTs 's Ethical Ethics! Slandard Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements ant we heve illed cur sier efical meeponebiiies in geoordunce with Tiese requiracnenta. . Wa We beiseve believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion thol (ie gual evidence we hve cttainad jo auificiamt and appropriste to provese a hewiy for ou opinion. .

Conclusions relating to going concern Gonclualoneplating to going concn:

in In auditing the financial statements auditing the finenctel eisternanta, , we have concluded that van have concluded thet t the he Board Doeni'e 's use of the going concern basis of use of lite going Gawemn tenip of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or momiitions conditions that Se thet, , individually or collectively indhvidually oreeotlecttvaly, , may cast s rumy cart eesigniiaant ignificant doubt on the Company on the Company'see 's ability to continue as a ee ee golng going concern for a period of at least twelve months from when the financ canon fay # pecind of at least temtve monthe tom when the freanelal ial statements are authorised for issue statsment> ereability auleriped to continousfor neue,s2 2 . Cur Our responsibilities and the responsibilities of the Board with respect to going concern are described in the reepenelUilllies and the reeponaltlliiies of tte Soanl wit resoecl to going conaam ere described In Ibs roigvant relevant sections of this report. sections cf tne rapert.

Race P a a e 13a I 26

ST BASIL'S (Limited by Guarantee)

Other information

The Board is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or 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 misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Board Report.

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

Responsibilities of the Board

As explained more fully in the Statement of the Board's responsibilities set out on page 25, the Board is 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 Board determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Board is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.

P a a e I 27

ST BASIL'S (Limited by Guarantee)

‘Gant Extent to which the audit was considered capable of detecting irregularities, including fraud ty Sanh he nuh wes orecidanad Gapstle oF Gaaeadlig Irragu iouaing ane We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or cage error, and then design and perform audit procedures responsive to those risks gocher emer chp be rmermneengahoeen nag ee mg , including obtaining audit rita al ga widenco evidence that is sufficient and appropriate to provide a basis for our opinion Sret ls sulicient end appropriais to provide o beats fx our opinion, . in In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non­ Hquelifyingend edefromalieg cleke cf rnetariel mlssiotemert In eapect of bregulueltes, Including fad end moncompliance with laws and regulations, our procedures included the following:

Kuve Due to the inherent limitations of an audit, there to ihe Inherent Lndiaiions of am mult, (ers le is an unavoidable risk that we may not have detected some on unevotiiatile risk el wa may not hewe Getectad aorno material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve co usion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non­ Siaepmnntle,cedateien compliance with laws and regulations and cannot be e wit ohlewateapiailion6¢wedBeregulationssnes miofarchintweecarinotnates,Wanbe ecqpected xpected to detect a creerLond atoeGebuct d isih e efin ll fraud fraud and non sintopes.and duaqeenveel -compliance with laws Leonroamiaisin e s and regulations. and[reapeatons.] wail lean Aes Use of the audit report of tis exits xegoast This report is made solely to the company's members as a body in accordance with Chapter 3 of Part 1 6 of the Conpantssbaron Companies Act 200 aheadAct mages2005 6 and Chapter and b-dayGheptew 4 4 ofyr of Part 2 of the Housin 7Part oy2 prof theetceteraHousing g and Regeneration Act 2008 estde frenttmntyRegeneration achAct gpl . Cha Our audit work has auditlene ach Pad been been undertaken so that we might state to the trust's members those matters we are required to state to them work thes in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or We On underteivensation’ ropestso thetond weformightne ol s t tereis gurpoes,to the resteTo themembersfulleat thoext e sr!metrepermittedwo oreby lew, requiredwe do tp notsteie ioaccept themor ceauine assume responsibility to anyone other than the trust and the trus responaibliliy to anyone olfer tian the trust and the trusts t's members as a body for our audit work members at 2 body for our audit work, , for for thts this report report, , or for the opinions we have formed or for the opinions we have formed. .

Lee Cartwright (Senior Statutory Auditor) The For and on behalf of Caimors Mullding Seever and Struthers, statutory auditor The Colmore Building 20 Caimae Cirous 20 Colmore Circus Quesnswey Q Bininghan ueensway B4 Birmingham BAT B46AT Cate: 19.09.24 Date:

Pace P a a e |@ 1 2 8

ST BASIL'S (Limited by Guarantee)

STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2024

Notes

2024 2023
£'000's £'000's
TURNOVER
Housing support contracts
- BirminghamCity Council 4,583 4,284
- Solihull MBC 862 843
- Worcester CC 378 398
- Warwickshire CC 457 425
- Coventry CC 523 532
-Other Councils 222 267
7,025 6,749
Income from lettings 3b 7,481 6,434
Fundraising 3a 1 , 2 1 5 958
Other income 1 , 1 7 3 966
Amortisation of Social Housing Grant 1 5 208 208
3a 17,102 15,315
OPERATING COSTS 3a (16,814) (15,060)
OPERATING SURPLUS 3a 288 255
Interest receivable and similar income 76 9
Interest payable and similar charges = (12)
—— ——
SURPLUS FOR THE YEAR 364 252
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 364 252

P a a e I 29

ST BASIL'S (Limited by Guarantee)

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024, company registration number 03964376

Notes 2024 2023
£'000's £'000's
FIXED ASSETS
Housingproperties - cost less depreciation 8 17,222 13,4 9
Other property,plant & equipment 9 527 519
Total fixed assets 17,749 13,968
CURRENT ASSETS
Debtors 1 1 2,660 1,636
Cash and cash equivalents 5,190 5,070
7,850 6,706
CREDITORS: AMOUNTS FALLING 1 2 (3,941) (2,759)
DUE WITHIN ONE YEAR
NET CURRENT ASSETS 3,909 3,947
TOTAL ASSETS LESS CURRENT 21,658 17,915
LIABILITIES
CREDITORS: AMOUNTS FALLING DUE 1 3 (15,820) (12,441)
AFTER MORE THAN ONE YEAR
NET ASSETS 5,838 5,474
CAPITAL AND RESERVES
Revenue reserves 5,683 5,336
Restricted reserves 155 138
TOT AL RESERVES 5,838 5,474

The financial statements on pages were approved by the Board on Monday 1 6" September 2024 and were signed on its behalf by: Na Temp leton, Member of the Board

% Feizal Hajat,S of the Board

P a a e I 30

ST BASIL'S (Limited by Guarantee)

STATEMENT OF CHANGES IN RESERVES

For the year ending 31 March 2024

Revenue Restricted 2024 2023
reserves Reserves Total Total
£'00O's £'000's £'00O's £'000's
At 1 April 2023 5,336 138 5,474 5,222
Surplus from statement of comprehensive
income 364 364 252
Transfer to/from restricted reserves (17) 17
At 31 March 2024 5,683 155 5,838 5,474
— se —— ————XK"_~>
For the year ending 31 March 2023
Revenue Restricted 2023 2022
reserves Reserves Total Total
£'00O's £'000's £'000's £'000's
At 1 April 2022 5,062 160 5,222 5,092
Surplus from statementof comprehensive
income 252 252 130
Transfer to/from restricted reserves 22 (22) - -
At 31 March 2023 5,336 138 5,474 5,222

Page I 31

ST BASIL'S (Limited by Guarantee)

STATEMENT OF CASH FLOWS For the year ending 31 March 2024

2024 2024 2023 2023
Notes £'000's £'000's £'00O's £'00O's
NET CASH INFLOW
FROM OPERATING ACTIVITIES 17 622 666
CASH FLOW FROM FINANCING
ACTIVITIES
Interest received 76 9
Interest paid (12)
Housing loans repaid (302)
Investments encashed
76 (305)
CASH FLOW FROM INVESTING
ACTIVITIES
Purchase of housing properties 8 (4,507) (213)
Purchase of other property,plant &
Equipment 9 (167) (14)
Capital grants and donations
received/accrued 1 5 3,664 (579) 1,014 787
NET CHANGE IN CASH AND 1 1 9 1,148
CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS 5,070 3,922
AT START OF YEAR
CASH AND CASH EQUIVALENTS 5,189 5,070
AT END OF YEAR ——we ——
Analysis of changes in net debt
At 1st April Cashflows Cashflows
Other non-cash		 Other non-cash At 315 March At 315 March
£'000 £'000 £'000 £'000 £'000
Cash and cash equivalents 5,070 1 1 9 1 1 9 5,189
Housing loans - - - -
ES ———— aaa Se
Total 5,070 119 119 - 5,189

Page I 32

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

1. ACCOUNTING POLICIES

(a) Basis of accounting

St Basil's is a company limited by guarantee which is incorporated and domiciled in the United Kingdom. The financial statements are prepared under the historical cost convention, in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Fi ' nancial Reporting Council and comply with the Accounting Direction for Private Registered Providers of Social Housing 2022 the Statement of Recommended Practice for Registered Social Housing Providers 2014 (SORP) and the Housing and Regeneration Act 2008. St Basils is a public benefit entity (PBE), as defined in FRS 102 and applies the relevant paragraphs prefixed "PBE" in FRS 102.

(b) Statement of compliance

St Basils has prepared the financial statements in accordance with FRS 102 .

(c) Turnover

Turnover represents rents and service charges receivable (net of losses from voids), revenue grants receivable from local authorities together with donations and miscellaneous income.

Income is generally recognised on a receivable basis and is reported gross of related expenditure, where the amount is reasonably certain and when there is adequate certainty of receipt. The specific bases used are as follows:

Page I 33

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

(d) Depreciation

No depreciation is charged to the Statement of Comprehensive Income in the year of acquisition or purchase on either category of asset.

Housing properties

Depreciation is calculated to write down the cost of investment in specific components which need replacing over different useful economic lives. St Basils has adopted the following components and economic useful lives for its asset components:

Structure 1 year life Kitchens 15 year life Bathr ms 1 5 year life Doors 20 year life Heating systems 25 year life Window 20 year life Roofs 50 year life Security Systems 20 year life Refurbishment 20 year life

Freehold land is not depreciated.

Other property, plant & equipment (PPE)

Depreciation is calculated to write down the cost of plant & equipment on a straight-line basis over their estimated useful life:

Computer equipment and furnishing and fittings 5 years

For improvements to leasehold property the economic lives for Housing properties are adopted unless the period of the lease is known to be lower.

(e) Social Housing Grant (SHG) and other capital grants

Where grants are received from government agencies such as Homes England, local authorities, devolved government agencies, health authorities and the European Commission which meet the definition of government grants, they are recognised when there is reasonable assurance that the conditions attached to them will be complied with and that the grant will be received. Government grants are recognised using the accruals model and are classified either as a grant relating to revenue or a grant relating to assets. Grants relating to revenue are recognised in income on a systematic basis over the period in which related costs for which the grant is intended to compensate are recognised. Where a grant is receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs, it is recognised as revenue in the period in which it becomes receivable.

(e) Social Housing Grant (SHG)

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Grants received for housing properties are recognised in income over the expected useful life of the housing property structure. Grants received from non-government sources are recognised as revenue using the performance model.

(f) Improvements to properties

Expenditure on existing housing properties other than replaced components is capitalised to the extent that it improves the economic benefit of the asset either through an increase in rental income, a reduction in maintenance costs or through an extension of the life of the property.

Page I 34

ST BASIL'S (Limited by Guarantee)

(g) Restricted Reserves

The restricted reserves represent donations received but as yet unspent, in respect of specific projects together with capital grants and donations received for restricted purposes. These are subject to an external restriction as such they are separately recognised

(h) Pension Costs

St Basils has two defined contribution schemes.

Contributions payable to the Company's auto enrolment scheme with Legal and General are charged to the Statement of Comprehensive Income as they become payable in accordance with the rules of the scheme.

Contributions payable to the Company's defined contribution scheme with Engage Mutual are charged to the Statement of Comprehensive Income as they become payable in accordance with the rules of the scheme. New membership of this scheme was stopped in 2014 when the scheme with Legal and General was introduced. All new membership since 2014 has been into the Legal and General Scheme.

(i) Supported Housing

Separately identifiable tenancy related rent, service and support charge income along with any related costs for supported housing is disclosed under 'supported housing' within note 3. Charges for and costs of support services funded under Support Contracts are shown under 'Support Contracts' within note 3.

(i) Operating Leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

(k) Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and demand deposits, together with other short term, highly liquid investments that are readily known amounts of cash and are subject to an insignificant risk of change in value.

(I) Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument

(m) Going Concern

The company's financial statements have been prepared on a going concern basis which assumes an ability to continue operating for the foreseeable future. No significant concerns have been noted in the business plan updated for 2024/25 and therefore we consider it appropriate to continue to prepare the financial statements on a going concern basis.

Page I 35

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

1. ACCOUNTING POLICIES (Continued) Financial assets carried at amortised cost

Financial assets carried at amortised cost comprise rent arrears, trade and other receivables and cash and cash equivalents. Financial assets are initially recognised at fair value plus directly attributable transaction costs. After initial recognition, they are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

If there is objective evidence that there is an impairment loss on any asset, including social housing property, the amount of the loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the financial asset's original effective interest rate. The carrying amount of the asset is reduced accordingly.

A financial asset is derecognised when the contractual rights to the cash flows expire, or when the financial asset and all substantial risks and reward are transferred.

If an arrangement constitutes a financing transaction, the financial asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial liabilities carried at amortised cost

These financial liabilities include trade and other payables and interest bearing loans and bo owings.

Non-current debt instruments which meet the necessary conditions in FRS 102, are initially recognised at fair value adjusted for any directly attributable transaction cost and subsequently measured at amortised cost using the effective interest method, with interest-related charges recognised as an expense in finance costs in the Statement of Comprehensive Income. Discounting is omitted where the effect of discounting is immaterial.

A financial liability is derecognised only when the contractual obligation is extinguished, that is, when the obligation is discharged, cancelled or expires.

Financing transactions

For rent arrears where the arrangement constitutes, in effect, a financing transaction because of extended credit arrangements the arrears are measured at the present value of the future payments discounted at an appropriate market rate of interest.

2. Significant Management Judgements and key sources of estimation uncertainty.

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Significant Management Judgements

The following are management judgements in applying the accounting policies of the Company that have the most significant effect on the amounts recognised in the financial statements.

Capitalisation of development expenditure

The company capitalises expenditure in accordance with the accounting policy on housing properties. Judgement is exercised over the likelihood that projects will continue, as to whether development expenditure is capital or revenue. For the year ending 31 March 2024, there are capital additions of £4,076k (see note 8), of which £3,951 k relates to the capitalisation of on-going development costs.

Page I 36

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

2. Significant Management Judgements and key sources of estimation uncertainty. (continued)

Estimation uncertainty

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results and may cause a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Debtor provisions

Provision is made for rent arrears that are considered uncollectable. These provisions require management's best estimate of the costs that will be incurred based on legislative and contractual requirements. In addition, the timing of the cash flows and the discount rates used to establish net present value of the obligations require management's judgement. In the light of the experience of recent years, the basis for determining the provision for rental debts has proved reasonable.

Components of housing properties and useful lives

Major components of housing properties have significantly different patterns of consumption of economic benefits and estimates are made to allocate the initial cost of the property to its major components and to depreciate each component separately over its useful economic life. The Company considers whether there are any indications that the useful lives require revision at each reporting date to ensure that they remain appropriate.

3a. TURNOVER AND OPERATING (DEFICIT)/SURPLUS

2024 2023
Turnover Operating Surplus/ Turnover Operating Surplus/
costs (deficit) Costs (deficit)
£'000's £'000's £'000's £000's £'00O's £'000's
Income and
expenditure from
lettings
Supported housing
- residential (note
3b) 13,563 (14,185) (622) 12,302 (12,530) (228)
Other income and
expenditure
Fund raising 1,215 (519) 696 958 (536) 422
Non-residential
services 2,324 (2,110) 214 2,055 (1,994) 61
Total 17,102 (16,814) 288 15,315 (15,060) 255

Page I 37

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

3b. INCOME AND EXPENDITURE FROM SOCIAL HOUSING

INCOME AND EXPENDITURE FROM SOCIAL HOUSING
2024 2023
All All
Supported Supported
Housing Housing
Accomm- Accomm-
odation odation
£'000's £'000's
Income from lettings
Rent receivable 2,885 2,620
Service charges receivable 4,597 3,814
Net rents receivable 7,482 6,434
Support Contracts 5,1 1 7 4,853
Other income 964 1,015
a
—Oo
Total income from social housing lettings 13,563 12,302
_A:
Expenditure on lettings
Management 7,927 7,487
Services 3,306 2,577
Routine maintenance 1,067 937
Residential building lease costs 375 313
Planned maintenance 983 627
Bad debts 224 262
Depreciation of properties 303 327
Total expenditure on lettings 14,185 12,530
Operating surplus on social housing lettings (622) (228)
Rentlosses from voids 637 664

4. SURPLUS ON ORDINARY ACTIVITIES

SURPLUS ON ORDINARY ACTIVITIES
2024 2023
£'000's £'00O's
Surplus on ordinary activities is stated after charging/(crediting)
Depreciation of housing properties 303 327
Depreciation of other fixed assets 159 255
Auditors'remuneration:­
In their capacity as auditors 22 20
In respect of other services
Staff costs (note 6) 8,350 7,658
Amortisation of socialhousing grants (208) (208)
Other equipment lease charges 84 49
Land and buildings lease charges 977 369

Page I 38

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

5. TAXATION

No taxation charge arises as the Company is a registered charity and is exempt from tax on charitable activities.

6. STAFF COSTS

STAFF COSTS
2024 2023
£'000's £'000's
Staff costs including the Senior Management Team
Wages and salaries 7,499 6,889
Social security costs 628 573
Other pension costs 223 196
8,350 7,658

The above staff costs include £407k for cover workers (2022/23 £339k).

Average number of full-time equivalent persons (including the Chief Executive) employed during the year:

Number Number
Management 8 8
Administration 43 34
Housing support services 234 227
SS «SS
Total employees 285 269
7. DIRECTORS' EMOLUMENTS
2024 2023
£'000's s
£'000's
Emoluments of the Senior Management Team (including pension 499 451
contributions) —S et
The emoluments of the Senior Management Team disclosed above
include amounts paid to:
The Chief Executive,being the highest paid director (excluding pension ng the highest paid director (excluding pension
79		 75
contributions)

The Chief Executive is entitled to membership of the defined pension contribution pension scheme operated by the company. No special terms or individual pension arrangements apply to this post, except for those common to a number of staff who transferred different arrangements from an earlier scheme Employer pension contributions in respect of the Chief Executive amounted to £4.5k (previous year £4k)

Apart from the Chief Executive, one other employee was paid in excess of £60k (previous year: no employees).

Page I 39

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

The Board of Directors consists of eleven Non-Executive Directors and one Executive Director {Chief Executive). The emoluments of the Chief Executive are included within the Senior Management Team emoluments.

The Non-Executive Directors receive no emoluments.

8. TANGIBLE FIXED ASSETS- -HOUSING PROPERTIES
Housing Housing
properties properties
held for under
letting development Total
£'000's £'000's £'000's
COST
At 1 April 2023 16,988 98 17,086
Additions 125 3,951 4,076
At 31 March 2024 1 7 , 1 1 3 4,049 21,161
—_—SESESESESESESEEEEEE ——
ae		 ——
Sa
LESS:
DEPRECIATION
At 1 April 2023 3,636 = 3,636
Charge for the year 303 303
At 31 March 2024 3,939 3,939
NET BOOK VALUE
At 31 March 2024 15,874 1,348 17,222
—ESS ———— — Eee
At 31 March 2023 13,352 98 13,449

Page I 40

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

9. OTHER PROPERTY, PLANT & EQUIPMENT

Short term Furnishings
Leasehold Computer and
properties equipment properties equipment fittings Total
£'000's £'000's
£'000's		 £'000's
£'000's		 £'000's
COST
At 1 April 2023 607 2,061 1,899 4,567 567
Additions 3 165 168 168
Disposals
At 31 March 2024 610 2,061 2,064 4,735 735
SEE —EEywaaeE Eo ——————_=>__
ACCUMULATED DEPRECIATION
At 1 April 2023 359 1,953 1,736 4,048
Charge for the year 27 53 79 159
Disposals - - - -
—— — —SSSsSss— ———
At 31 March 2024 386 2,006 1 , 8 1 5 4,207
NET BOOK VALUE
At 31 March 2024 224 55 249 528
At 31 March 2023 248 108 163 519
10. UNITS IN MANAGEMENT
2024 2023 2023
Number Number
Bed spaces 613 603 603
At the end of the year there were 54 units in development (2023 At the end of the year there were 54 units in development (2023: :54).
1 1 . DEBTORS
2024 2023 2023
£'000's £'000's
Rental debtors 538 535 535
Less:Provision for bad debts (364) (255)
Net rental debtors 174 280 280
Other debtors 1800 867 867
Prepayments 350 330 330
Accrued Income 336 159 159
2,660 1,636

Page I 41

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ending 31 March 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£'000's £'00O's
Rental pre-payments 515 488
Accruals 1,419 700
Deferred Income 521 781
Trade creditors 666 410
Other taxation and social security costs 190 1 72
Housing loans
SHG due within one year 630 208
3,941 2,759

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024 2023
£'000's £'000's
SHG to be released after one year 15,210 12,176
Housing loan
Provision for dilapidations 610 265
15,820 12,441

The loan with Unity Trust Bank was repaid in full before the end of the year 2022/23.

14. FINANCIAL INSTRUMENTS

The carrying values of the Company's financial assets and liabilities are summarised by category below:

Financial assets

Measured at undiscounted amount receivable

Financial liabilities

• Measured at undiscounted amount payable

Page I 42

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

15. SOCIAL HOUSING GRANT AMORTISATION MOVEMENT

SOCIAL HOUSING GRANT AMORTISATION MOVEMENT SOCIAL HOUSING GRANT AMORTISATION MOVEMENT
2024 2023
£'000's £'000's
Deferred income--Grants
As 1 April 2023 12,383 11,577
Grants received 3,665 1,014
Amortisation to Statementof Comprehensive Income (208) (208)
At 31 March 2024 15,840 12,383
ee
Amortisation within one year 630 208
Ee
Amortisation after one year 15,210 12,175

The total value of grants received prior to any amortisation is £18,535k (2023: £14,870k).

16. SHARE CAPITAL

The Company is limited by guarantee and does not have any share capital.

17. RECONCILIATION OF OPERATING SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
2024 2023
£'000's £'00O's
Operating surplus for the year 108 255
Movement in debtors (1,024) (569)
Movement in creditors 1,104 620
Depreciation 462 568
Amortisationof grant (208) (208)
Net cash flow from operating activities 622 666
ee
CAPITAL COMMITMENTS
2024 2023
£'000's £'000's
Capital expenditure contracted for but not provided for in the
financial statements 3,589

18. CAPITAL COMMITMENTS

Capital expenditure authorised but not yet contracted for

Page I 43

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

The capital expenditure contracted for but not provided for in the financial statements relates to the final part of the development of Phase 2 of our Live and Work Youth Village development in Sandwell. The development is being fully funded by some of our key partners -- Homes England, LandAid and Sandwell MBC.

19. OPERATING LEASE COMMITMENTS

At 31 March 2024 the company had total minimum lease payments under non-cancellable operating leases as follows:

Other equipment leases:

Other equipment leases:
2024 2023
£'000's £'00O's
Expiry Date
Less than 1 year 33 49
Between 2 and 5 years 72
After more than 5 years
105 49
—
Land & Building leases:
2024 2023
£'000's £'000's
Expiry Date
Less than 1 year 806 331
Between 2 and 5 years 423 420
Aftermore than 5 years 484 669
1,7 1 3 1,420

20. LEGISLATIVE PROVISIONS

The Company is a registered charity, a company limited by guarantee incorporated under the Companies Act 2006 and is a Registered Provider of Social Housing.

21. PENSION COMMITMENTS

The Company operates two defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension charges as detailed in note 6 represents contributions payable by the Company to the funds.

At 31 March 2024, pension contributions still to be paid into the pension fund amounted to £48k (£39k in the previous year), and these were paid in April 2024. This obligation is included in creditors on the Statement of Financial Position.

Page I 44

ST BASIL'S (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 March 2024

22. RELATED PARTIES

A Director is related to the now former Chief Executive of Birmingham City Council, who was in post during the year 2023/24. Birmingham City Council commissions supported housing contracts with St Basils. The award of these contracts pre-dated both their appointments. The Director could not use their position to their advantage.

A Director was the CEO of a recruitment agency used by St Basils during the year 2023/24. The work was awarded at arm's length and the Director did not use their position to influence the works. The total of the transactions during the year was £34k.

23. RESTRICTED RESERVES

At 1 April 2023 Transferred Expenditure At 31 March
Restricted Reserve in the year 2024
£'00O's £'000's £'00O's £'000's
Young Women's Fund - Shelter 131 6 125
Young Women's Fund - Hardship 7 7 0
The National Lottery Community Fund 30 30
Total Restricted Reserves 138
mmm		 30 1 2
mm		 155

Young Women's Fund (Shelter) was established in 2009, to provide grants and other relief of young women's hardship in Birmingham.

Young Women's Fund (Hardship) was established in 2011/12, to provide grants and other relief of young women's hardship.

The National Lottery Community Fund awarded St Basils' funding for the Employability programme during 2023/24, totalling £1,079k over 3 years. The funding is part of the RC Midlands Region programme.

Page [ 45