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2024-03-31-accounts

THE FRESH VISIONS PEOPLE LIMITED

CHARITY OF THE FRESH VISIONS PEOPLE LIMITED

Financial Statements for the year ended 31 March 2024

Registered Charity number: 1091627 Company number: 04155343

THE FRESH VISIONS PEOPLE LIMITED

CONTENTS

MEMBERS, ADVISORS AND BANKERS .................................................................................................................1 TRUSTEES’ REPORT .............................................................................................................................................2 INDEPENDENT AUDITOR’S REPORT ....................................................................................................................8 STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT ................................... 12 BALANCE SHEET AT 31 MARCH 2024.............................................................................................................. 14 NOTES TO THE FINANCIAL STATEMENTS ........................................................................................................ 15

THE FRESH VISIONS PEOPLE LIMITED

MEMBERS, ADVISORS AND BANKERS

The Fresh Visions People Limited (Fresh Visions) was registered as a Charity on 15 April 2002 (registered number 1091627). It is a company limited by guarantee (registered number 04155343).

Trustees Sarah Morgan - Chair Alexandra West Ralph Scott-Gordon Janet Collier – Appointed 21 March 2024 Grace Alaneme – Resigned 6 December 2023 Secretary Puneet Rajput – Appointed 2 May 2023 Alison Wignall – Resigned 2 May 2023 Registered office Fleet House 59-61 Clerkenwell Road London EC1M 5LA Auditor BDO LLP 2 City Place Gatwick RH6 0PA Principal solicitor Devonshires Salisbury House London Wall London EC2M 5QY Principal banker Barclays Bank plc Churchill Place Canary Wharf London E14 5RB Registration Registered Charity number: 1091627 Company number: 04155343

[1 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

TRUSTEES’ REPORT

The Trustees present their annual report together with the financial statements of ‘Charity’ of The Fresh Visions People Limited (Fresh Visions) for the year ended 31 March 2024.

Objectives

Fresh Visions was incorporated on 7 February 2001 as a company limited by guarantee and commenced trading during 2003.

Fresh Visions’ mission is:

To support children, young people and vulnerable adults who face extreme disadvantage as a result of poverty, domestic abuse, lack of education and social exclusion.

Who we help

Fresh Visions supports and empowers disadvantaged individuals and communities to maximise their potential, with a particular focus on working in neighbourhoods where Southern Housing operates.

We’re focussing support for:

Where we work

We focus on meeting local needs in Southern Housing communities in the South East and Midlands. Despite these being economically vibrant and wealthy regions, there are individuals and communities facing extreme disadvantage, poverty and social exclusion. We’re committed to making lasting, positive community change among some of the poorest neighbourhoods and communities in the UK.

What we do

We design and deliver local community projects based on strong local needs analysis. We co-design activities with and for people, listening closely to their needs. We invest in community interventions rather than provide monies or grants directly to people. We fundraise and seek charitable donations and sponsorship to support our work.

We’ve a track record and a level of expertise in:

Activities

We’ve engaged 1,108 beneficiaries during 2023/24. Our main projects include:

Our projects are funded from restricted and designated grant funding or unrestricted funds as set out in notes 11 and 12 of the financial statements. Designated funds remain unrestricted and are available for use at the Trustees’ discretion.

[2 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

Strategic report

Achievements:

We’re proud of the impact we make. During 2023/24 we:

We’re seeking to build on this work. We commit to working with the most vulnerable people who face the greatest challenges.

We’re determined to drive our next phase of work resetting our strategy and workplans into 2024/25. Transforming our work and charity endeavours to meet the challenges of the extraordinary times ahead.

Complaints

Fresh Visions didn’t receive any complaints in the year ended 31 March 2024.

Financial Review

Fresh Visions raised income during the year of £445k and received a capital contribution from Southern Housing (funds derived from CPHA surplus approved by Southern Housing) of £50k bringing total receipts to £495k (2023: £621k). Income sources and supporters included: Children in Need, Clarion, Medway Council, East Sussex Clinical Commissioning Group, BSW, UK CPM, Pilon, ARJ Construction, Equans, Axis and United Living. Total Reserves held at year end were £702k (2023 £810k); £688k unrestricted and £14k restricted.

We secured individual fundraising donations and corporate charity sponsorship.

Fresh Visions intent is to maximise the use of resources directly into vital community project delivery. The Charity is supported and hosted by Southern Housing. The only non-project costs are audit fees, bank charges and an administration charge from the parent (Southern Housing). Significant ‘in kind’ or pro-bono support is provided by Trustees and staff in support of governance, project management and fundraising endeavours.

Plans for Future Periods

Our plan is to pursue fundraising from grant funding bids, corporate sponsorship and individual fundraising by supporters.

The Trustees hold an annual strategy planning day driving work in line with our charity strategy.

Building on current work, our priorities are to grow our community support programmes for young and vulnerable clients including domestic abuse counselling.

Our strategy will see us focus and grow on core areas of expertise.

We continue to develop our online charity fundraising programme. We’re very grateful for the magnificent support provided by all our funders this year (see www.freshvisions.org.uk).

[3 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

Reserves Policy

The total funds held at 31 March 2024 are:

Reserves Policy
The total funds held at 31 March 2024 are:
2024 2023
£000 £000
General funds 84 20
Designated funds 604 765
Restricted funds 14 25
Total reserves 702 810

Breakdown of these balances are provided in notes 10-12.

Fresh Visions unrestricted reserves are directly controlled by the Trustees. No external body has the right to control these reserves, other than those statutory bodies that have over-riding rights under specific legislative provisions.

Restricted reserves are to be used by the Charity in accordance with the conditions set by the donors of the funds. Should the Trustees believe these funds cannot be used in accordance with the conditions set, the donors should be approached to ascertain whether a variation of condition is permitted, or whether the funds should be returned to the donor(s).

Trustees can approve the designation of unrestricted funds for charitable projects, activities and/or charity central running costs when funding support from external bodies is not sufficient.

Unrestricted or designated funds are anticipated to be spent within 3 to 5 years of the date of receipt.

The general approach is to prioritise the use of unrestricted charity reserves to sustain existing or instigate new project activities to the direct benefit of the charity’s target beneficiaries.

Central costs contingency

The bulk of Fresh Visions central running costs are not resourced by the charity but underpinned by a Service Level Agreement with Southern Housing. Charity management and governance are supported by Southern Housing staff. These costs are not charged to the charity. There is an inter-business Service Level Agreement (SLA) that sets out other service support arrangements between FV & Southern Housing. These include service support on finance, business systems, technology, HR and communications. The Charity makes a partial contribution to these central service overheads. We hold a contingency reserve of £2.5K to cover 6 months of these central costs contributions in the event of winding-up the Charity and its business.

Projects’ contingency

Where Fresh Visions holds sufficient unrestricted reserve funds, a suitable level of project(s) reserve contingency funds should be held to protect the charity from cost risks liabilities in respect of project closure or failure. The assessment of project(s) contingency requirements undertaken on a project-by-project basis. The assessments allowing for any agreements or support arrangements in place between Fresh Visions Charity being the subsidiary and Southern Housing as the parent company. We’ll agree an annual schedule of projects‘ contingency reserve funds held and review this 6 monthly.

Fresh Visions notes and considers closely the balance in holding adequate contingency reserves while ensuring maximum available funds apply to create maximum support, activities and opportunities for beneficiaries.

Reserves project allocation is determined by Trustees and approvals recorded at FV Board meetings. The details on allocated reserves funds, projects and activities are set out in The Charity’s financial reports and management accounts. These are reviewed quarterly by the Board.

[4 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

Structure, Governance and Management

The parent company, Southern Housing, is a registered society under the Cooperative and Community Benefit Society Act 2014, registered no. 8983. It is responsible for the strategic planning and direction of the Group and ensuring corporate services such as IT, finance, personnel and development meet members’ needs.

The Trustees are shown on page 1. Fresh Visions governing document is the memorandum and articles of association. Other administrative and legal information is set out on page 1.

Risk Management

The Trustees make use of Southern Housing‘s Risk Appraisal Group (RAG) to help in identifying and mitigating contractual risks for the Charity. RAG is a multi-disciplinary group ensuring group entities approach risk in a consistent and relevant manner, whilst recognising the particular needs of each individual company within the group. The Trustees examine major strategic and operational business risks faced by the Charity and can confirm systems and controls are in place to identify, minimise and mitigate risk.

Trustees

Trustees are selected based on the skills they can bring to the Charity and their interest in and support of the Charity’s aims and objectives. New Trustees take part in an induction programme to familiarise themselves with the history of the Charity, with their responsibilities as Trustees, and with issues facing the Charity at the time of their appointment. Trustees undertake and consider annual governance performance reviews.

Relationship with the parent company (Southern Housing)

The work of Fresh Visions is seen as a natural addition to the work of the other group members of Southern Housing. Fresh Visions is involved in areas of personal development and practical assistance for Southern Housing residents.

The parent provides support for Fresh Visions through its central services such as IT, finance and governance activities.

Payment of creditors

Creditors are paid within our credit terms of 30 days.

Fundraising

Fresh Visons adopts a Fundraising Plan which includes a programme of charity promotion and fundraising events run by volunteer fundraisers. Progress reports are monitored and reviewed at quarterly Board meetings and in monthly reviews between the Charity Manager and fundraising volunteers.

Our current annual target is to secure £400K per annum with an approach primarily focused on foundation charity sector grant funding bids to support projects. This accounts for the majority of fundraising with additional new multi-year grants secured in year.

We rely on volunteer fundraising efforts without the charity retaining a paid fundraiser or commissioned fundraising agency. We receive some pro-bono support for fundraising bids and events from Southern Housing staff.

In planning fundraising activities and events, we issue pre-agreed guidance and project briefings to volunteer fundraisers. These reflect Charity Commission advice and include advice on using fundraising sites/tools like Just Giving. Fresh Visions operates within Southern Housing’s customer service and complaints framework. We received no formal complaints about fundraising in the last year.

Over the past year, we’ve fundraised via pre-planned and targeted online activities. We are not currently making direct appeals to the general public and hold an active register of donors and supporters.

[5 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

We support vulnerable beneficiaries through our mission. The nature of our fundraising avoids any issues of unreasonable intrusion on a person’s privacy, unreasonably persistent approaches or undue pressure to give.

Value for money

The Group has published its value for money statement and use the Regulator of Social Housing’s value for money metrics to review performance and target actions as disclosed in Southern Housing financial statements.

Political and charitable contributions

The Charity made no political contributions in the current and prior year.

Going concern

The Charity has net assets of £702k (2023: £810k) at the balance sheet date. After reviewing the Charity’s budget for 2024/25 and cash forecasts for the next 12 months from the date the financial statements are approved, the Trustees have a reasonable expectation the Charity has adequate resources to continue in operational existence for the foreseeable future.

Current economic conditions have been factored into the budget and parent’s long term financial plan. The Board are confident our viability can be maintained having assessed our plans, liquidity levels and mitigating actions available and there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the next 12 months. For these reasons, they continue to adopt a going concern basis for the preparation of the Financial Statements.

Trustees’ Responsibilities

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and Financial Reporting Standard 102 applicable in the UK and Republic of Ireland (FRS102).

The financial statements are required by law to give a true and fair view of the state of affairs of the Charity and of incoming resources and application of resources including income and expenditure of the charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that show and explain the charity’s transactions, 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.

[6 ]

THE FRESH VISIONS PEOPLE LIMITED - TRUSTEES’ REPORT

Assessment of the effectiveness of internal controls

The Trustees are responsible for the system of internal control and for reviewing its effectiveness. The system of internal control is designed to manage risk and to provide reasonable assurance that key business objectives will be met. It also exists to give reasonable assurance about the preparation and reliability of financial and operational information and the safeguarding of assets and interests. The Trustees recognise that no system of internal control can provide absolute assurance or eliminate all risk.

Public Benefit disclosures

During the year the Charity continued to undertake activities which meet its objectives, relating to those activities it considers necessary to address social exclusion. The Trustees have complied with their duty, under section 4 of the Charities Act 2011, to have due regard to the guidance issued by the Charity Commission in England & Wales related to public benefit.

Disclosure of information to auditors

Each Trustee of the Charity has confirmed in fulfilling their duties as a Trustees;

Auditors

A resolution to re-appoint BDO LLP as the auditors will be proposed at the Southern Housing Board Meeting on 25 September 2024.

Approval

The Trustees’ Report was approved by the Trustees on 18 October 2024 and signed on its behalf by:

Sarah Morgan Chair of Trustees

[7 ]

THE FRESH VISIONS PEOPLE LIMITED - INDEPENDENT AUDITOR’S REPORT

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEES OF CHARITY OF THE FRESH VISIONS PEOPLE LIMITED

Opinion on the financial statements

In our opinion, the financial statements:

We have audited the financial statements of Charity of The Fresh Visions People Limited (“the Charity”) for the year ended 31 March 2024 which comprise the statement of financial activities, income and expenditure account, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remain independent of the Charity 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.

Conclusions related to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’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 concern are described in the relevant sections of this report.

[8 ]

THE FRESH VISIONS PEOPLE LIMITED - INDEPENDENT AUDITOR’S REPORT

Other information

The Trustees are 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Other Companies Act 2006 reporting

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

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or Directors’ Report included in the Trustees’ 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 Trustees

As explained more fully in the Trustees’ Report, the Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

[9 ]

THE FRESH VISIONS PEOPLE LIMITED - INDEPENDENT AUDITOR’S REPORT

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

Based on:

we considered the significant laws and regulations to be UK Companies Act 2006, Charities Act 2011, applicable accounting framework and relevant tax legislation.

The Charity is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the employment law, data protection and health and safety legislation.

Our procedures in respect of the above included:

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

[10 ]

THE FRESH VISIONS PEOPLE LIMITED - INDEPENDENT AUDITOR’S REPORT

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override through inappropriate journal entries.

Our procedures in respect of the above included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:

https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members 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 Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

[Willock] |[Paula] DocuSigned by:

8F75FEDC31D1467... Paula Willock (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Gatwick, UK Date: 22 October 2024

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

[11 ]

THE FRESH VISIONS PEOPLE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Income from:
Donations and legacies
5
Investments
4
Total income
Expenditure on:
Raising funds
6
Charitable activities
6
Other expenditure
3
Total expenditure		 Unrestricted funds
Total
Restricted
General
Designated
Unrestricted
funds
Total
Total
2024
2024
2024
2024
2024
2023
£000
£000
£000
£000
£000
£000
195 -195246441367
4 -4-44
199 - 199 246 445 371
21 -21-2116
- 322322257579560
3 -3-33
24 322 346 257 603 579
Net income / (expenditure) 175
(322)
(147)
(11)
(158)
(208)
Transfers between funds
Receipt of capital
contribution from parent		 (161)
161----
50 -50-50250
Net movement in funds 64
(161)
(97)
(11)
(108)
42
Reconciliation of funds:
Total funds brought forward
10		 20 76578525810768
Total funds carried forward 84
604
688
14
702
810

All the Charity’s activities are continuing.

[12 ]

THE FRESH VISIONS PEOPLE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Income from:
Donations and legacies
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Other expenditure
Total expenditure		 Unrestricted funds
Total
Restricted
General
Designated
Unrestricted
funds
Total
Total
2023
2023
2023
2023
2023
2022
£000
£000
£000
£000
£000
£000
141 15
156211
367192
4 -4
-44
145 15
160 211
371 196
16 -16
-
168
-
352
352208
560438
3 -3
-32
19
352
371 208
579 448
Net income / (expenditure)
Transfers between funds
Receipt of capital
contribution from parent		 126
(337)
(211)
3
(208)
(252)
(154)
154-
-
-
-
-
250
250
-
250250
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 (28)
67
39
3
42
(2)
48
698
746
22
768770
20
765
785
25
810
768

All the Charity’s activities are continuing.

[13 ]

THE FRESH VISIONS PEOPLE LIMITED

BALANCE SHEET

AT 31 MARCH 2024

Registered Charity number: 1091627
Company number: 04155343
2024 2023
Notes £000 £000
CURRENT ASSETS
Trade and other debtors 7 772 825
Cash and cash equivalents - -
Total current assets 772 825
Creditors: amounts falling due within one year Creditors: amounts falling due within one year 8 (70) (15)
Net assets
702
810
THE FUNDS OF THE CHARITY
~~ee~~
~~ee~~
~~eee~~
~~eee~~
General funds 10 84 20
Designated funds 11 604 765
Restricted funds 12 14 25
Total reserves
702
810
~~a~~

The financial statements were approved by Trustees on 18 October 2024 and signed on its behalf by:

Sarah Morgan Puneet Rajput Chair of Trustees Secretary

The notes on pages 15 to 19 form part of these financial statements.

[14 ]

THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The Fresh Visions People Limited is a private company, limited by guarantee and incorporated in the UK. Company number 04155343. It is also a registered charity, number 1091627.

The financial statements have been prepared in accordance with applicable Accounting Standards, the Companies Act 2006, the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland (FRS102) and the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2019).

The financial statements have been prepared under the historical cost convention and in accordance with applicable Accounting Standards.

Registered address: Fleet House, 51-69 Clerkenwell Road, London, EC1M 5LA.

Cash flow statement

As a consolidated cash flow statement is prepared by the Charity’s parent Southern Housing, the Charity has taken advantage of the exemption provided by FRS102 not to report a separate statement of cash flows.

Going concern

The Charity has net assets of £702k (2023: £810k) at the balance sheet date. After reviewing the Charity’s budget for 2024/25 and cash forecasts for the next 12 months from the date the financial statements are approved, the Trustees have a reasonable expectation the Charity has adequate resources to continue in operational existence for the foreseeable future.

Current economic conditions have been factored into the budget and parent’s long term financial plan. The Board are confident our viability can be maintained having assessed our plans, liquidity levels and mitigating actions available and there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the next 12 months. For these reasons, they continue to adopt a going concern basis for the preparation of the Financial Statements.

Taxation

No corporation tax is payable by the Charity as it is exempt from tax on its charitable activities.

Reserves

Reserves
2024 2023
£000 £000
General funds 84 20
Designated funds 604 765
Restricted funds 14 25
Total reserves 702 810

The general fund is retained to cover general risks and unforeseen circumstances. The Trustees believe the year end general reserve balance of £84k is adequate to meet this requirement given the level of general funds designated to specific projects.

The designated and restricted reserves are held to fund specific active projects.

[15 ]

THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

Income

Grant and donation income is recognised when entitled to the income. Only material amounts are accrued/deferred.

Donation income represents monies received by the Charity from charitable donations and fundraising events. Grant income is received from Trusts, Government Bodies and other charities.

Categorisation of costs

Charitable expenditure represents grants payable and costs of activities in furtherance of Fresh Visions objectives. Fundraising costs represent the direct costs of fundraising. Other expenditure represents the costs associated with Trustees’ meetings, legal advice, internal and external audits and general governance matters. Support costs represent charges for financial, IT, other administrative support services from the parent company and other costs that cannot be directly attributed to the categories above. These costs are allocated within the financial statements to direct charitable expenditure, fundraising costs, and other expenditure based on the levels of total expenditure in each of these prime categories.

2. EMPLOYEE AND TRUSTEES INFORMATION

No Trustee received any remuneration for their role as Trustees of Charity of Fresh Visions during the current and prior year. No expenses were reimbursed to the Trustees during the current year and prior year.

The Group Chief Executive and the senior management team are employed by Southern Housing, with whom administration costs are shared; the relevant emoluments are dealt with in the financial statements of that organisation.

No staff were directly employed by the Charity in the current or previous year.

3. OTHER EXPENDITURE

Net income/ expenditure is stated after charging:
Auditors’ remuneration:
- in respect of audit services
4. INVESTMENT INCOME
Bank and deposit interest		 2024
2023
£000
£000
3
3
2024
2023
£000
£000
4
4
4
4

[16 ]

THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

5. DONATION AND LEGACY INCOME

Grant income
Donations		 Unrestricted
Restricted
Total
Total
2024
2024
2024
2023
£000
£000
£000
£000
- 246246227
195 -195140
195 246 441 367

6. EXPENDITURE DURING THE YEAR

Direct Direct Support Total Total
Expenditure on: staff costs other costs costs 2024 2023
£000 £000 £000 £000 £000
Raising funds - - 21 21 16
Charitable activities:
Thrive Counselling 272 11 - 283 253
Build Yourself 64 31 - 95 92
Motivate Health 76 33 - 109 132
Digital Fundraising Support 35 - - 35 19
Older Vulnerable Residents Fund - 29 - 29 25
Young Persons Domestic
Abuse Prevention 17 8 - 25 -
Hardship Fund - - - - 38
Bursary Award - 3 - 3 1
464 115 - 579 560
Other expenditure - - 3 3 3
464 115 24 603 579
. TRADE AND OTHER DEBTORS
2024 2023
£000 £000
Due within one year
Trade debtors 44
18
Prepayments and accrued income 58 -
102
18
Due after more than one year
Amounts owed by parent undertakings 670
807
670
807
Total debtors 772
825

7. TRADE AND OTHER DEBTORS

[17 ]

THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income
Amounts due to parent undertakings		 2024
2023
£000
£000
13
15
57
-
70
15

9. ANALYSIS OF NET ASSET BY FUNDS

Current assets
Debtors
Creditors:amounts falling
due within one year
Net current assets
Net assets		 2024
2024
2024
2023
Restricted
fund
Unrestricted
fund
Total
Total
£000
£000
£000
£000
16 756
772
825
16 756
772
825
(2) (68) (70) (15)
14 688 702
810
14 688 702
810

ANALYSIS OF NET ASSET BY FUNDS (PRIOR YEAR)

Current assets
Debtors
Creditors:amounts falling
due within one year
Net current assets
Net assets		 2023
2023
2023
2022
Restricted
fund
Unrestricted
fund
Total
Total
£000
£000
£000
£000
32 793
825
769
32 793
825
769
(7) (8) (15) (1)
25 785
810
768
25 785
810
768

[18 ]

THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

10. ANALYSIS OF FUNDS

Unrestricted –
General fund
Unrestricted –
Designated funds
Restricted funds		 Balance at
1 April 2023
Capital
contribution
from parent
Income
Expenditure
Transfers
Balance at
31 March
2024
£000
£000
£000
£000
£000
£000
20 50 199 24(161)
84
765 - - 322 161 604
25 - 246 257
- 14
810 50 445 603
- 702

11. ANALYSIS OF DESIGNATED FUNDS

Build Yourself
Motivate Health
Thrive Counselling
Digital Fundraising Support
Older Vulnerable Residents
Fund
Young Persons domestic
abuse prevention
Beneficiaries Bursary Fund
Sounding Board		 Balance at
1 April 2023
Capital
contribution
from parent
Income
Expenditure
Transfers
Balance at
31 March
2024
£000
£000
£000
£000
£000
£000
156 - - 92 24 88
191 - - 94 10 107
238 - - 73 1 166
61 - - 35 96 122

62 - - 25 12 49
50 - - - 15 65
2 - - 3 3 2
5 - - - - 5
765 - - 322 161 604

A description of the designated funds and the reasons for holding these funds is set out in the Trustees’ report. All designated funds are unrestricted and available for use at the discretion of the Trustees. The designated funds have been created to allow for planning and budgetary control of certain projects undertaken by the charity. Some of the projects also have restricted funds attributable and these are set out in note 12.

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THE FRESH VISIONS PEOPLE LIMITED - NOTES TO THE FINANCIAL STATEMENTS

12. ANALYSIS OF RESTRICTED FUNDS

Thrive Counselling
Motivate Health
Build Yourself Swale
Older Vulnerable Residents Fund
Young Persons Domestic
Abuse Prevention		 Balance at
1 April 2023
Income
Expenditure
Transfers
Balance at
31 March
2024
£000
£000
£000
£000
£000
16 197 211 -2
9 14 15 -8
- 5 3 -2
- 3 3 --
- 27 25 -2
25 246 257 - 14

13. CONTROLLING PARTIES

The Charity is a subsidiary of Southern Housing which is the ultimate parent company incorporated in the UK and registered in England as a Co-operative and Community Benefit Society. Southern Housing is the ultimate parent undertaking by virtue of holding all shares in the Charity. The Charity has taken advantage of the exemption provided by FRS102 not to disclose transactions with the parent undertaking or other wholly owned subsidiaries within the group.

The largest and smallest group in which the results of the Charity are consolidated is that headed by Southern Housing, incorporated in England. The consolidated accounts are available to the public and may be obtained from Fleet House, 59-61 Clerkenwell Road, London, EC1M 5LA. No other group accounts include the results of the Trust.

[20 ]