Charity registration number 1090616 Company registration number 04139974 (England and Wales) ELMORE COMMUNITY SERVICES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ELMORE COMMUNITY SERVICES LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms P Scully Dr N Wager Ms V Odlin Ms B IMIIIS Ms L Challis Ms S Morrison Mr G Kenworthy Mr J Mcmanners Mr N Chapman (Appointed 30 May 2023) (Appointed 20 May 2023) (Appointed 20 January 2024) Charity number 1090616 Company number 1)4139974 Registered office 213 Bams Road Oxford Oxfordshire OX4 3UT Auditor Shaw Gibbs (Audit) Limited 264 Banbury Road Oxford OX2 7DY
ELMORE COMMUNITY SERVICES CONTENTS Page Trustees, report Independent auditorfs report Statement of financial activities 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-24
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in aOrdanCe with the accounting policies set out in note 1 to the financial statements and comply with the chanty's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effedive 1 January 2019}" Objectives and activities Elmore Community Services is a charity set up in 1989. We provide high quality, flexible services in the community to marginalised and disenfranchised people v4ho would othewse fall between the gaps in Oxfordshire services due to their multiple and complex needs. Elmore's clients are people aged 16+ wth multiple and complex needs. Clients wll have multiple separate support needs such as mental health issues, homelessness and rough sleeping, substance misuse, offending, difficulty in forming and sustaining relationships. physical disability. self-hami, learning difficulties, domestic abuse, sex working or experience of abuse and neglect. Elmore deals with some of the most complex clients in Oxfordshire. The lives of Elmore clients are typically punctuated by various traumatic events which have led to an inability to process emotions in a conventional fashion. Crises and escalating difficult behaviours can punctuate people's lives, and in times of crises, multiple agencies may be contacted by or involved in the life of an Elmore client, often at the same time. These cont&ts can be multiple as well as simultaneous. and without dearer communication and jOiTFUP, they can risk oveMhelming agencies and, indeed, an overall system that is not designed for such behaviour. With such needs, clients do not fit easily into services. can be hard to engage, and often they are not getting the services that they need when they need them. Elmore's flexible approach seeks to engage with people who may have slipped through the net of mainstream seNices, and to make a positive and lasting impact on their lives. Elmore clients typically benefit from longer-term interactions. Initial approaches may be rejected. The Elmore worker 11 persevere, trying out different tactics to engage the client and building up their trust, possibly for the first time. in an agency. The build-up of trust delivers positive outcomes for the individual and the system in the longer-tem), which means work can go at a slower pace. Our impact is a 'slower-bum' impact of increased time needed to achieve useful outcomes with clients. We persistendy try to engage people and make all potential avenues for treatment and support open and accessible. It is routinely our distinct role to make sense of the range of agencies that might be able to offer a relevant seNice, and to support people to access them. We occupy a disproportionately large position in the neIOrk of agencies across Oxfordshire to define and arrange support from a range of agencies to meet the needs of our clients. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance During the financial year 202312024 (April 2023 to March 2024 inclusivel, Elmore Community Services has supported over 1,100 people across Buckinghamshire, Oxfordshire and Berkshire. Elmore's work became increasingly embedded across the Thames Valley during this period. with new contracts in Buckinghamshire and Berkshire supporting increasing numbers of clients in these areas. The Berkshire complex needs project in particular has grown rapidly during the financial year 2023124 and has had particular success supporting very complex clients leading to an expansion of the current year contract in October 2024. The Buckinghamshire High Intensity project has seen similar grovrth to Berkshire and, even though a new project this financial year, has supported over 60 dients. This project also uncovered a need for longer term intervention for some clients leading io the creation of the Buckinghamshire Floating support project which has contnued into financial year 202412025 and is already showing steady growth. Work in Oxfordshire expanded to cover additional defined roles such as Dual Diagnosis workers. Additionally, the role of South Asian Support Worker was created in Buckinghamshire to focus on a group of people who are all too often disenfranchised and hard to engage. These roles will facilitate access to mental health support and other relevant services (including domestic violence, benefits and housing, amongst others). A net increase of 11 staff was needed to cover this increased workload and specific training was txovided to create the skillsets required to deliver the diverse and increasingly complex ServIS Elmore is able to offer. Elmore's longstanding connection wth the Oxfordshire Mental Health Partnership (OMHP) continued, with the start of a two-year contract extension. Work within the OMHP has already started to develop services beyond the end of FY25 and is key to facilitating Elmore's wort( throughout Oxfordshire. Elmore has also been working with commissioners to extend Elmore's current Domestic Abuse service to increase provision for victimlsurvivors and perpetrators for individuals engaged under children's social care, with additional trauma informed interventions being provided as part of this and a significant expansion of this service in 202412025. Intemally, some new roles were developed to cope with the increased demands of our expanded teams induding a new Head of HR and a newAdministration team providing essential back-office support. Our financial function was also strengthened during the year with improved processes saving both time and money on the financial running of the organisation. Our ability to take advantage of recent innovations in technology and automation, data capture and analysis, have made reporting our KPIS quicker and more accurate. Elmore has also made significant steps forward in terms of data security, including multi-factor authentication for client data and auditing all our data systems. This work continues at pace in this financial year. leading to increased data security and a significant reduction in the risk of data loss.
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review This part of the report supports the audited Accounts of Elmore for the 12-month period to 31st March 2024 and provides more commentary on the statements contained in them. The A¢unt$ conform to ststutory requirements and this report is intended to provide further interpretation and explanation. Income and Ex enditure Elmore finished the year with a with a net loss. expenditure higher than income. of £137k. This means that the charity is drawing on some of its histonc reseeS (its buffer) to bridge the gap. This is a reasonable financial strategy, in the short term, to manage uncertainty, address cost pressures and allow for investment. However, it is not sustainable in the medium term. The cause of the 2023124 loss is that Elmore's income from its commissioners is not keeping pace with the increased inflationary pressures, parb'cularly around staff salaries, that have been seen across the country. Elmore works wth vulnerable people and needs to ensure continuity in service provision to help safeguard them from hardship and uncertainty. Management efforts are underway to ensure an improvement in Elmore's financial position, targeting long-term viability by increasing and diversifying its sour$ of income. The charity's income for this year was £2.265m. a decrease of £18k on the prior year (2022-23, £2.283m). Almost all of Elmore's income, £2.251 m (99.40A) comes from commissioners of our services. These commissioners are the NHS and Local Authorities. Page 16 of the accounts sets these out. Elmore's expenditure for the year was £2.454m. an increase of £93k (40A) on the previous year. Of this there was an increase of £86k in our 'direct' costs. from £1.992m in 2022123 to £2.078m in 2023124. Direct costs are those that are incurred in delivery of the charity objectives and the services for clients provided under our contracts. Note that headcount increased from 56 to 67 in the year with a corresponding increase in costs from £1.937m in 202212023 to £2.066m in 202312024 which accounts for most of the increase in direct costs. Client support costs (another direct cost) decreased from £1 Ook in 2022123 to £71 k in 2023124. Support and govemance costs (noTrdirect) showed a small increase of £7k from £365k in 2022123 to £372k in 2023124. The charity holds a proportion of its (unrestricted) reseNes in investment. In 2023124 the income {interest) from investments was £8,718 with £3,654 spent on investment management. There was an upwards revaluation of the investment assets at year-end leading to a £51 k gain. The perfomian¢e of the investment and value f¢y money will be the subject of review by Trustees.
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review (continued) Balance Sheet Elmore finished the year with £634k of fixed assets, the majority of which are rts investment assets. These totalled £612k at the end of the year, an increase on the value in the previous year of £563k. This reflects an upwards revaluation of these assets of £51 k (note 14). This has then impacted on the Income and Expenditure position as set out above. The value of the charity's tangible (those that can be seen and touched) fixed assets reduced in year to £22k (from £23k) as those items were depreciated (their residual value reducing over time as they are used). The money owed to the charity (debtors) redUd from £346k in 2022123 to £200k in this year as more contract income from commissioners was reiVed promptly. In addition to its investment asset, the charity also holds a significant cash balan of £846k, a decrease of £205k on last year's cash balance of £1.051m. There has been a significant fall in the value owed by the charity to its creditors from £430k in 2022123 to £264k in this year. The majority of this (£102kl is the use {in 2023124} of funding received in the previous year but intended to be spent in the current year. This is called deferred income and is treated as 'owed' from one year to the next or back to the commissioner if not used. The accounts show that the charity reflected it in the correct accounting year and used it as intended. The charity had reserves at the year-end 31 March 2024 of £1.415m. This constitutes a reduction from £1.553m at the yearnd 31 March 2023. This reflects the in-year loss in Income and Expenditure. The value of reserves (including cash) is such that it can manage such adverse performance in the short term. Reserves have been increased significanuy from £679k as at the yearnd 31 March 2020. The Board of Trustees reviews the level of reserves of the charity on a regular basis, ensuring the provision is in line with the guidance issued by the Charity Commission and is sufficient to safeguard the core ServIS for as long as possible through periods of risk or uncertainty. Plans for future periods As in recent years, Elmore seeks to renew existing contracts. secure new services, extend existing ones and successfully implement new services. In particular we are: Growing the Domestic Abuse team to include support for both victims and perpetrators in greater numbers, enabling the seNice to double in size and widen its scope. With an additional 3.5 years security of funding, this enables us to develop new ways ofworking. Expanding Elmore's work in Berkshire in the second half of the year with additional caseworkers providing support for a greater number of clients. Working with partners in both the Homeless Allian and Oxfordshire Mental Health Partnership to negotiate fresh contracts for FY26. Consolidating teams wthin Elmore and prioritising excellent communication and collaborative ways of working. structure, governance and management Elmore Community Services (Elmore) is a charitable rnpanY registered in England that is limited by guarantee and governed by its Articles of Association, which were last updated in March 2016. The company was incorporated on 11 January 2001 {number 04139974) and registered as a charity on 15 February 2002 (number 1090616). The principal office and registered office of the charity is 213 Barnes Road, CovAey, OX4 3UT. The following persons served as Diredors throughout the year unless otherwse stated below. They are also Trustees under charity law and have a beneficial interest in the charitable company.
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding-up. Ms P Scully Dr D Louw Ms E Jones Dr N Wager Mr L Bowles Mr C Nolan Ms V Odlin Ms B Wllis Ms L Challis Mr M Rowley Ms S Morrison Mr G Kenworthy Mr J Mcmanners Mr N Chapman (Resigned 15 December 2023) (Resigned 15 December 2023) (Resigned 24 September 2024) (Resigned 26 March 2024) (Resigned 16 April 2024) (Appointed 30 May 2023) (Appointed 20 May 2023) (Appointed 20 January 2024) Elmore's governance is the responsibility of the Trustees and the sole Members of the company. The terms of the Articles of Association specify a minimum of three Trustees and no maximum, though we aim for 8-12 Trustees to be an effective working group while also providing sufficient capacty, diversity, skills and knowledge. The Board of Trustees has traditionally met six times per year {regular quartedy meetings plus strategy meetings} and there is a Finance Subcommittee and Quality Subcommittee which meets in beeen the quarterly meetings. Other working groups take place as required, focusing on topics such as Reducing Elmore's Floating Support Waiting List or other specific work to be undertaken with the support of Trustees. Authority from the Trustees is delegated to a Chief Executive who is also the company secretary and is responsible for the day to day running of the charitable company. In 202>24, the Chief Executive was Tom Hayes, in his fourth year in the role, and the charity has been supported operationally by three Service Managers, fifteen Team Managers, and an Administration Team, which together ccFordinate the 51 multiple needs workers who undertake the direct charitable activities.
ELMORE COMMUNITY SERVICES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees. responsibilities The trustees, who are also the directors of Elmore Community Services for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Standards {United Kingdom GenerallYAcpted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming reSoUrS and application of reSoUrs, induding the income and expenditure, of the charitsble company for that year. In preparing these financial statements. the trustees are required to= select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity 11 continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor The auditor, Shaw Gibbs (Audit) Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006. Disclosure of infomiation to auditor Each of the trustees has confimied that there is no infomiation of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confimied that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The twstees. report was approved by the Board of Trustees. tr40 (_ Mr N Chapman Trustee 06 Jan 2025 Date:.............................................
ELMORE COMMUNITY SERVICES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ELMORE COMMUNITY SERVICES Opinion We have audited the financial statements of Elmore Community Services (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activib"es, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting practi>. In our opinion, the financial statements- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance viith the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wth Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther described in the Auditors sponsIbl1111eS for the audit ol the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sections of this report. Other information The other information comprises the infomiation induded in the annual report other than the finarcial statements and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit, or othewse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a materkql misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomiation. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the followng matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion= the information given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept- or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit.
ELMORE COMMUNITY SERVICES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ELMORE COMMUNITY SERVICES Responsibilities of trustees As explained more fully in the statement of trustees. responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to ase operations, or have no realistic altemative but to do so. Auditors responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about vh)ether 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 th 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. The extent to which our procedures are capable of detecting iegUlar1ties. including fraud. is detailed below. At the planning stage of the audit, we gain an understanding of the laws and regulations which apply to the charitable company and how the trustees seek to comply with those laws and regulations. This help us to plan appropriate risk assessments. During the audit, we focus on relevant risk areas and reviewed the compliance with the laws and regulations by making relevant enquiries from the trustees and undertaking corroboration, for example by reviewing the trustees, minutes and other documentation. We assess the risk of material misstatement in the financial statements induding as a result of fraud and undertook the following procedures but were not limited to.. a. Reviewing the controls set in place by the trustees., b. Making enquiries of the trustees as to whether they consider fraud or other irregularity may have taken place, or where such opportunity might exist., c. Challenging the trustees. assumptions yth regard to accounting estimates.. d. Identifying and testing joumal entries, particulady those which appear to be unusual by size or nature. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we wll be less likely to become aware of instsnces of notFcompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditors report.
ELMORE COMMUNITY SERVICES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ELMORE COMMUNITY SERVICES Use of our report This report is made solely to the charitable company's trustees as a body, in accordance with Part4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might stale to the charitable company's tNstees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's twstees as a body, for our audit work, for this report or for the opinions we have formed. Samantha Daniels (Senior Statutory Auditor) for and on behalf of Shaw Gibbs (Audit) Limited 07 Jan 2025 Chartered Certified Accountants Statutory Auditor 264 Banbury Road Oxford OX2 7DY
ELMORE COMMUNITY SERVICES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and gifts Charitable activities Investments 5.708 1,584,068 8.718 5,708 2,251,109 8,718 38 1,415,120 2,806 38 865,652 2,280,772 2,806 667,041 Total income 1,598.494 667,041 2.265.535 1,417,964 865,652 2,283,616 Expenditure on: Raising funds Charitable activities 3.654 1,798,345 3.654 652,631 2.450.976 3,802 3.802 1,307.068 1,050,356 2,357.424 Total expenditure 1,801.999 652,631 2.454.630 1.310.870 1,050,356 2,361.226 Net gainsl(losses) on investments 12 51.258 51.258 (50.576) {50,576) Net incomel(expenditure) (152.247) 14,410 (137.837) 56.518 (184,704) (128.186) Transfers between funds (12,757) 12,757 (17,510) 17,510 Net movement in funds (165.004) 27,167 (137.837) 39.008 (167,194) (128.186) Reconciliation of funds: Fund balances at 1 April 2023 1,149,495 403,581 1,553,076 1,110,486 570,776 1,681,262 Fund balances at 31 March 2024 984.491 430,748 1.415.239 1,149,494 403,582 1,553,076 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 10-
ELMORE COMMUNITY SERVICES BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 14 15 22,039 612,125 22,643 563,701 634,164 586,344 Current assets Debtors Cash at bank and in hand 16 199,763 845.755 345,780 1,051,190 1,045.518 1,396,970 Creditors: amounts falling due within one year 17 264.443 430.238 Net current assets 781,075 966,732 Total assets less current liabilities 1,415,239 1,553,076 The funds of the charity Restricted income funds Unrestricted funds 20 430,748 984.491 403,582 1,149,494 1,415.239 1,553,076 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for cornplying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial ststements. These financial statements have been prepared in accordance Yth the provisions applicable to companies subject to the small companies regime. 06 Jan 2025 The financial ststements were approved by the trustees on ......................... k4Q (_ Mr N Chapman Trustee Company registration number 04139974 (England and Vlales) 11
ELMORE COMMUNITY SERVICES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 25 (202,484) (579) Investing activities Purchase of tangible fixed assets Investment income reiVed (10,848) 7.897 (6,346) 2,466 Net cash used in investing activities (2.951) {3,880) Net cash used in financing activities Net decrease in cash and cash equivalents (205,435) {4,459) Cash and cash equivalents at beginning of year 1,051,190 1,055,649 Cash and cash equivalents at end of year 845,755 1,051,190 12-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Elmore Community Services is a private company limited by guarantee incorporated in England and Wales. The registered office is 213 Bams Road, Oxford, Oxfordshire, OX4 3UT. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to indude certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restrided funds are set out in the notes to the financial statements. 1.4 Income All monetary donations are included in full in the statement of financial activities when receIvale, provided that there are no donor-imposed restrictions as to the timing or the related expenditure, in which case recognition is deferred until the pre-condition is met. Revenue grants are credited as incoming resour$ when they are receivable, provided Conditions f receipt have been complied with, unless they relate to a specffied future period, in which case they are deferred. Investment income is accounted for in the period in which the charity is entitled to receipt of the income. 1.5 Expenditure Expenditure, which is charged on an accruals basis, is allocated beeen.. Expenditure incurred directly to the fulfilment of the charity's objectives Expenditure incurred in supporting the activities that directly fulfil the charity's objectives Expenditure incurred in the management and administration of the charity. 13-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Fixiures and fittings CompLrters 250A straight line 250A straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed assel investments are initially measured al transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date: the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. Vth the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.13 Leases Rentals payable under operating leases. including any lease incentives reived. are charged as an expense on a straight line basis over the temi of the relevant lease. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cfflly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 5,708 38 15-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Support 2024 Support 2023 Performance related grants 2,251,109 2,280,772 Analysis by fund Unrestricted funds - general Restricted funds 1,584,068 1,415.120 667,041 865.652 2,251,109 2,280,772 Perfonnance related grants Oxford City Council - Tenancy sustainment Oxfordshire County Council- New Beginnings Oxfordshire Mental Health Partnership Oxfordshire County Council- FSP DA Oxfordshire Mind- FSP MH Other 17,815 111,252 1,766,814 326,250 35,630 125,000 741,572 455,004 109,778 813,788 28,978 2.251,109 2,280.772 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Income from lisled investments Interest receivable 821 7,897 340 2,466 8,718 2,806 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Investment management 3,654 3,802 16-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable Charitable expenditure expenditure 2024 2023 Direct costs Staff costs Client welfare Client support Office costs 1,968,805 10,706 71,514 27,939 1,843,576 24,194 100.767 23.610 2.078,964 1,992.147 sha of support and governance costs {see note 8) Support Governan 341,666 30,346 340,024 25,253 2,450,976 2,357,424 Analysis by fund Unrestricted funds Restricted fvnds 1,798,345 652,631 1,307,068 1,050,356 2.450,976 2,357.424 Support costs allocated to activities 2024 2023 Staff costs Depreciation Insurance Office costs Governan costs 84,774 11,452 15,003 230,437 30,346 81,721 13,449 11,519 233,335 25,253 372.012 365.277 Analysed between: Charitable expenditure 372,012 365,277 2024 2023 Governance costs comprise: Staff costs Audit fees Share of support costs 12,175 14,640 3.531 11,269 9,810 4.174 30.346 25.253 17-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting)'. Fees payable for the audit of the charity's ffinancial statements Depreciation of owned tangible fixed assets 14,640 11,452 9,810 13,448 10 Trustees None of the trustees (or any persons connected yth them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number CEO Team Managers Multiple needs workers 15 40 51 Total 67 56 Employment costs 2024 2023 Wages and salaries Social security Costs other pension costs 1,814,704 170,356 80,694 1,707,588 162,860 66,118 2,065,754 1,936,566 The number of employees whose annual remuneration was more than £60,000 is as follows= 2024 Number 2023 Number £60,000 to £70,000 Remuneration of key management personnel The remuneration of key management personnel was as follows" 2024 2023 Aggregate compensation 64,527 60,764 18-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Gains and losses on investments Unrestricted Unrestricted funds funds 2024 2023 Gainslllossesl arising on= Revaluation of investments 51,258 {50,576) 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Tangible fixed assets Fixtures and fittings Computers Total Cost At 1 April 2023 Additions 55,106 2,490 42,709 8,358 97,815 10,848 At 31 March 2024 57,596 51,067 108,663 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year 48,823 3.802 26,349 7,650 75.172 11.452 At 31 March 2024 52.625 33,999 86.624 Carrying amount At 31 March 2024 4,971 17,068 22,039 At 31 March 2023 6,283 16,360 22,643 19-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Fixed asset investments Listed investments Cost or valuation At 1 April 2023 Valuation changes Management fees Dividend income reinvested 563.701 51,258 {3,654) 820 At 31 March 2024 612,125 Carrying amount At 31 March 2024 612,125 At 31 March 2023 563,701 16 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 57,332 2,649 139,782 317,522 28,258 199,763 345,780 17 Creditors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 37,497 159,518 20,064 5,672 41,692 34,230 261,384 81,028 12,623 40,973 18 264,443 430,238 18 Deferred income 2024 2023 Arising from grant contracts 159,518 261,384 Deferred income is included in the financial ststements as follows= -20-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Deferred income Icontinued) 2024 2023 Deferred income is included within.. Current liabilities 159,518 261,384 Movements in the year.. Deferred income at 1 April 2023 Released from previous periods Resources deferred in the year 261,384 1261.384) 159,518 721.802 {721.802) 261.384 Deferred income at 31 March 2024 159,518 261,384 19 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 80.694 66,118 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 20 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Oxford City Council - Tenancy sustainment Oxfordshire City Council - New Beginnings Covid Outbreak Management Fund (COMF) Oxfordshire County Council- FSP DA Police and Crime Commission OUH NHS Foundation Trust- HIU Project Safe Haven OSH 3,306 17,815 (33,878) 12,757 26.284 111.252 (80.624) 56.912 40,305 (360) 39,945 261,121 3,950 326.251 (341,630) 245,742 3.950 58,840 9,775 170,346 41,377 (146,374) (49,765) 82,812 1,387 403,581 667.041 {652,631) 12,757 430,748 21
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted funds Icontinued) Previous year: At 1 April 2022 Incoming resources Resources expended Transfe At 31 March 2023 Oxford City Council - Tenancy sustainment Oxfordshire City Council - New Beginnings Oxfordshire County Council- FSP DA Oxfordshire Mind- FSP MH Police and Crime Commission OUH NHS Foundation Trust- HIU Project Covid Outbreak Management Fund (COMF) Safe Haven OSH 35,630 (32,324) 3,306 125.000 (98.716) 26.284 239,410 455,004 109.778 {433,293} (127,288) 261,121 17,510 3,950 3,950 28,892 98.862 (68.913) 58,841 277,835 20,689 (237,530) (52,292) 40,305 9,775 41,378 570,776 865,652 (1,050,356) 17,510 403,582 21 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted fvnds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 1,149,495 1,598,494 (1,801.999) (12,757) 51,258 984,491 Previous year: At 1 April 2022 Incoming sources Resources expended Transfers Gains and At 31 March losses 2023 General funds 1,110,486 1,417,964 (1,310,870) (17,510) (50,576) 1,149,494 -22-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilities) 22.039 612.125 350.327 22,039 612.125 781.075 430.748 984.491 430.748 1,415.239 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current assetsl{liabilities) 22.643 563,701 563,150 22.643 563,701 966,732 403,582 1,149,494 403,582 1,553,076 23 Operating lease commitments Lessee At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases.. 2024 2023 Within one year Beeen two and five years 28,000 39.667 5,891 67.667 5.891 24 Related paty transactions There were no disdosable related party transactions during the year (2023 - none). -23-
ELMORE COMMUNITY SERVICES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Cash generated from operations 2024 2023 Deficit for the year 1137,837) (128,186) Adjustments for= Investment income recognised in statement of financial activities Fair value gains and losses on investments Investment management fees Depreciation and impairment of tangible fixed assets (8,718) (51,258) 3,654 11,452 {2,806) 50,576 3,802 13,449 Movements in working capital.. Decrease in debtors (Decrease)lincrease in credttors (Decrease) in deferred income 146,017 (63,928) 1101,866) 458.563 64.441 {460,418) Cash absorbed by operations 1202,484) (579) 26 Analysis of changes in net funds The charity had no material debt during the year. -24-