COMPANY RFC.ISTRATiof4 NUMBER 03359861 REGISTERED CHARITY NUMBER 1093668 bELLJ R.H.W.E. LIMITED (KNOWN AS REVIVING THE HEART OF THE WEST END) (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 31ST MARCH 2024 BELL TINDLE WILLIAMSON LLP C.haitered Aeeountants and Registered Auditors The Old Post Office 63 Saville Street North Shields I'yie & Wear NE30 IAY R.H.W.E. LIMITED A COMPANY LIf¥IlTED BY GUARANTEE FINANCIAL STATEfwlENTS- YEAR ENDED 31ST MJIRCH 2024 CONTENTS Report of the Trnsiees 1- 16 Independent Examinees Report to the Trnstees 17 Ststement of Financial Ac(iVLties 18 Balance Sheet 19 Notes to the Financial Staternents 20-29 Page I R.H.W.E. LIMITED A COMPANY LI￿lITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The Trustees are pleased to present their annual Directors, Report together with the financial statements of the Charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a Directors, Report and financial statements for Companies Act putposes. The financial statements comply with the Charities Act 2011. the Companies Act 2006. the Memorandum and Articles of Association, and the ¢haritieq Statemellt of Recommended Practice (applicable to charities preparing their financial statements in accordance with ihe Financial Reporting Standaid applicable in the UK and Republic of Ireland; FRS 1021 issued in October 2019. Summar of the Year Whil.%t facing various challenges this year, not least with the loss of funding ihrough the European Union impacting in particular on enterprise and employability SUPPOrt provision,. changes in government leadership and the launch of the Nonh of Tyne Combined AuthorEty (now North East Combined Authority} thss came at a time when demand for our services coniinues to rise with many more cases ￿qth added complexities due lo the disproportionate affect on our communities from the Cost of living crisis and lives becoming increasingly conwlex for many. RHWE is delighted to report that we have successfully navigated these obsiacleb whilst maintaining our sernices, with incredible out¢onies and impact achieved through a series of new prtsgrams delivered durin¥ the year to date. We remain determined and focused in our commitment to being responsive and innovative with the services we provide, enabling people to work through difficult li￿¢$ with timely and m&8ningful support. Our staff team hold the values of RHWE in their hearts and are dedicated to supporting clients from all backgrounds and this is reflected in the quote.% and case studies we share with funders and across our marketing channels. There has been a changing landscape for charities with changes in funding: and. wkn.lst there has been pressures on operational management, service delivery, and income stream5, this does not detract from the excellent work the team has achieved together to deliver significant step-change in the live$ of our beneficiarie5. Collaborative working and partnership development have always been key Components in our approach and we continue to foster strong relationships with local steering boards, advocacy fonm)s, volunthry sector organisations, Newcastle City Council, trdining providers and Job CentTe+ Key successes for the organi5ation during the period: Success in delivery of year l of the UKSPF Localised Business Support project in pamership ￿1th the BIPC Newcastle and The Millin Charity. Perforn￿nce targets and outcomes have been exceeded for year I which has reinforced RHWE'S credibiliiy as a high -perforniing project delivery partner and iecuxnition for the valuable enterprise support work for potential entrepreneurs and existing enterprises. Selected as a key delivery partner on The Wise Group's Relational Mentoring programme IUKSPF) for economically inactiv¢ residents in Newcastle, we have delivered and achieved ahead of thrget successful outputs and outcomes exceeding perfon￿anCe targets demonstrating RHWE'S track record in reaching and 5UPPOrting beneficiaries from communities considered hardest io reach. Public Health Funding from Newcastle Council sUPPOrted the registration of our centre John Buddle Work Village for another year as a Winier Wellbeing Hub and we delivered Let's Ta]k English (English Conversation) group and Creative Craft5 aCti￿ty sessions. Throughout the period, the organisation has responded io the challenging economic landscape. and the Trnstees and CEO regularly m¢t to con8ider and risk plan for the potentittl impact. Page 2 R.H.W.E. LIMITED A COMPANY LINIITED BY GUARAN'TEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Summar of the Year (COArlttued) We monitor expenditure 5ttingenily to reduce overheads during any lalenl periods of reduced occupancy in our buildings when income from office and workshop units is most at risk. Whilsi the financial situation continued to be precatious for some tenants at]d certain types of business we nthintained stable o¢cupan¢y in our centreb and our revamped bubiness centres website has get)erated enquiries and referrals for space increAsing against the Previous period. We attracted new tenants and supported existing ones to consider expallsion within our n￿naged workspace buildings. Meeting n)om hire has increased as a result of new customers discovering the facilities and tnarketing activity. RHWE continued as an 'Expert in Residence, at BIPC Newcastle offering pre-5tart and existing business support through the CityLife project. As a Work and Thrive (fomierly the Skills Hub) partner since 2019, we have provided guidance to Newcastle residents giving us acces5 to apply for participants to the Newcastle City Council Flexi Fund grant supporting joumeys into jobs or self-employnent. During the period, we accessed over £3,794 worth of small grants to purchase support, training and resources helping 32 p¢ople on their journey into work or selF-emplo)Tntnt during the period. We continue into our next year positioned for the next round of funding landscape through key partnerships managing the UK Shared Pr05perily Funding IUKSPF). With our strong irack re¢ord and performance demonstrated aciosb a variety of projects we have contributed impacted e￿dence 10 demtsnstrate RHWE'S employability and ente￿￿5£ expert15e a5 well as experience of working with multiple target groups. Our resolve and deteIinitiation to adapt, deliver and respond to the emerging needs of our sector as well as our beneficiaries is evident as we report our funded projects during the period all exceeded target. The Charity has always embraced change and we continue with our strategic review rernaining a priority to re-vtsit the corporate vision and values and re-shaping of our services based all extraordinary year of achievements made possible by the dedication and hard work of the staff team and the Trnstees. Our Pur ose and Aetlvlties Purpose The Charity's purposes ab sei out in the obje¢i8 contained in the company's Memorandum of Association are io benefjt the public, parti¢ulaTly those living in disadvantaged areas, through social and ￿onoMiC programmes to impmve Ihe welfare, resilience and lives of people and cot]ununities on theit journey to get into worL self-emplo)rynent, training or education. The aims of the charity are to raise aspiration and confidence by eoabling people io see the potential in Ihemselves, identify a goal and build resilience to navigate their way to success. People need holistic and personalised support to be able to make more infornied choices and feel empowered to take the steps towards getting the job they really want, exploring a 5ell'_emploJThent idea or consider training or education opportunities,. whatever the paihway they decide. Page J R.H.W.E. LIMITED A COMPANY LIMITED BY GUAIi4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Our Pur ose and Activities (coulinuerf) Ensuring Our Work Delivers OurAims When setting our aims. objectives and planning for acliviries, we reflect on the outcomes of our work at)d the benefits brought to the petsple we are here to help. We consider what has worked well, what we have learned and what could be done even better. Where we identify gaps. our staff team is excellent at working with stakeholders and partners to seek oui services we can access or provide influence where a need is not being met. or. even where we can design a solution ourselves. In setting objwtives and planning actI￿lieS, consideration is given to the general guidance published by the Charity Commission relating to ihe public benefit. We understand that everyone has a unique story and a series of events. experience5 and iirf]uences either now or in their past ihar has impacted on them per80nally. Many people have complex and bu&y lives and can lack the confidence, motivation and resilience to take a si¢p fonvard to start feeling in control,. and, often as a consequence of those unexpected events. lives can be iransfornied and it call feel impos%ible to get back on track. Our EXPLORE START GROW framework has been developed in response to consuliation ￿1th beneficiaries. participants and stakeholders ensurEng personalised and strengths-based support to help people work through challenges and move on to brighter future5 creating powerful impact. The Foeus Of Otsr Work- Objeetives, Strulegies oMdActiwities We embrdce the diversity of our comrnunities and support people irrespective of background, etI￿lc1ty, gender or age through the provision of personal transitions coaching at)d tailored activities our mission is to improve people's life chances and economic and social well-being and help those particularly who face health, social and financial inequality barriers. Our objectives are embedded across the organisation. We are.. People led in everything we do, we are led by people going through difficult times. Inclusave and comnulted lo inclusivily and dlversiiy aLrosb our organisaiion and our work, advocating for equalily wherei'er we can. BelIe￿er5 in people and wliat they can achieve. We are aspirational advocates who are creative and iinagii)ative in our work to respond 10 change% and the need8 of I1108e we support. Streiigth5-based alivays looking for people's stiengihs and ivays io unlock their potential through our worL our recruitment and how we work together as a t¢ani. Kiiid we ireai eiieryone wilh kindne88 atid huniility. Resilient ive are brave. we perseveie and we aiill to empower and build our owi and others. resilienLe keeping our promise8, advocating for I110se wiilioui a voice ajid don't gjive up on people. People are at the heart of our Charity. Unlocking the capacity to aspire is crncial to enable meaning￿] and targeied support for each emplo)qllellt journey, whatever your background or circumsiances. our support and guidance is multi- dimensional and responsive, recognising that the journey into a job. career an(Vor self-employment 15 unique to the individual and at every siage support needs to adjust and flex to overcome any personal and professional obstacles along the way. Page 4 R.H.W.E. LIMITED A COMPAN'Y LIMI'fED BY GUAIL4N'I'EE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Our Pur ose and Activities fcoiilinmed) The Focus OIOMr IYork- Objectives, Str4tegtes undAclivities (thlnÉitt￿edj EXPLORE START GROW is a menu of activities Carefully de8igned followng an extensive community consultation. Participants self-5elect the actlVLty or activities and personal coaches WTap I.. I support around each person to keep people energi%ed and encouraged on their journey. Life is complex and ihere's often competing factors, situations, $ysten￿ and ba¢k-storie8 that limst and curtail the ambstion to aspire. In a wel¢otning and caring envirotjnient, we build trust and respect by taking the time to get to know people. We explore talents and abilities, and hopes and dreams, peeling back the layers bil by bii. We see people grow as they become tnore empowered and confideiit about their fvtllres. (lur relationships with existing and new partners and 8tskeholders continue to be strengthened with ¢olleagues across local organisationg feeding back positively aboui the impact we are making. As a direct result we have grown a very strong network through which cross refetTals piovide more cohesive and joined up offers of support to local people. Organisations we are working collaboratively with include.. DWP Jobcenire Plus,. local Schools; social housing PToviders; local charitie.8 and voluntary organisations., Newcastle City Coun¢s1 and Newcastle Future5. How Our Activltles Dellver Pubile Benefit The Trusiees have considered the guidance published by the Charity Commi5SlOlI OIi the provision of public benefit and confirni that public benefii has been provided by the range of activities described, as follows: EXPLORE EXPLORE activities are creative and engaging and use a variery of themes as the inspiration to support those fi￿￿est away from the jobs market to take steps towards feeling confideni, resilient and ready for work. Activities are delivered flexibly through a combillalion of experience-based leaming and workshops and we develop people's confidence towards becoming economically independent through increasing personal capacity, a5PiTation and motivation with goal 5ettsng and empowering people io be in control of their choices. Explore Workshops explore skills, barriers, employtnent. careers and action planning. Thss is the starting point for the journey unlo¢killg tnind%et challenges to think more positively about setting a goal and action plan. STEPS Course (accredited by The Pacific Institute) uses cognitive theory and behavioural psychology to develop positive mind-set, behaviours and beliefs that 5tren¥thens resilience and feeling of control of your decision-mak]ng. RHWE Volunteer Champlons is our volunteering pathway particularly for participants who have experienced RHWE services and support and are advocate5 for RHWE by reaching out 10 communities and are trained to tnentor people needing encouragement and help ot) their journey. Lights Comera Take Ac¢ion course co-designed with a local ca8ting agency partner using TV and filtn techniques as the catalysi for honing work-place skill$. Participants gain an Lmderstanding of the sector, what it's like to work on set, learn to pitch confidently to an audience and work effectively in a team envirot)ment. Participants are supported to produce their CV - an on-line profile and many have gone on to Secure paid work as Supporting Artists on locally produced TV shows and films, found jobs in other industries. received 1..2.1 business support to explore self-employmeni ideas and registered self-etnployed. Page 5 R.H.W.E. LIMITED A COMPANY LITrIITED BY GUARèlNTEE REPORT OF TIIE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 HoTrv Our Activltles Deliver Publie Benefit Icoulinued) Financial Wellbeing workshops support people fa¢ing money management challenges in relation to benefits, work and debt. Breaking the barriers faced, guiding and supporting people with way8 to make positive change% to the way they manage their finances we offer 1..2..1 specialist advice relevant to the personal situation so options can be consider¢d and people can make Considered and informed decisions. START STAR T aciivities support people into work or self-employmeni. or both. Arniing people with practical knowledge they Can act upon helps improve self-belief, Co￿]denCe and understanding of how to relate this to job applications. starting a business or setting up a social enterprise. People can access a co]nbination of experience-based learning, workshops. 1.'2'.1 coaching, busines5 mentoring and access io enterprise funding. HOW2 Workshops are Short courseb giving an introduction to working for yourself or ￿nning an enterprise with key topicq relating to self-employment, r￿dIng customers, managing money for business. Panicipants benefit frotn the sharing of knowledge and peer support with other5 exploiing a sitnslar pathway. Self-Employnient and Universal Credii workshops are c0-desi￿]ed with a local welfare right5 specialist foi people concemed about moving towards self-employment and how thss will potentially impact on their benefits. The 5e5sion provides practical information about self-employment and managing their Universal Credit ac¢ount. Biisine5s Advice l.'I's with an experienced business gdviser helping explore business idea5, developing from a plan into reality and the practical step5 towaids self-employnent and 8tarting up a busine%s. A Doy in ihe Life workshops are co-delivered with local employer partners who provide inspiration and a reality check on what it is really like to work in their industy from Care to Codillg, Fashion to Digital Desigll. The employer partner 8hare$ an understanding of what the work is like. job roles available, any training or education requiretnents, at)d how to caich the eye of the employer through your application. all ran at the employer's venue so participants Can see the workplace in action. RHWE Coaches provide the WTap around support to Then help people explore, prepare and apply for job roles. Panners include University of Newcastle, St Cuthbert's Care and Pink Boutique. Crealive Aclion ¥vorkshops promote social actton ihrough use creative technique5 and Idea.￿ to generate commutiity focussed and enterprising idea5. We haye supported the development of social actioll and enterpri%e ideas into a registered social enterprise or con]rnunity-based business collaborating with British Council's Active Citizens and arts organisation The Empty Space. GROW Our Grow activities support business owners and those already self-employed to review and take practical steps toward managing, 5UStainillg and growing a business in a fast-paced and rapidly changing ente￿riSe landscape with a combination of workshops and l.. l Specialist 5UPPOrt. Business Masler CIos5es provide access to specialist experts fwussing on topics from Social Media, GDPR, EmplO￿tnt and HR, Leadership and Management. TP5 Leadership Martagemenl course (accredited by The Pacxfic Institu￿) designed to help owners and managers io be more a5pirational and able to Lmlock personal mindset barriers that ]nay be holding them back. Using powerful techniques and 10015 to develop a better understanding of managing dynamic change, set and achieve transformational goals and develop growth 8trategie$. Page 6 R.H.W,E. LIMITED A cOMP￿Ny LIINIITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Ho)Tr' Our Activatie5 Deliver Public Benefit (eoijtlttoed) COr￿MuNITy SUPPORT Our Trustees and Staff are passionate about grass roots support direct to local people and families. Our EXPLORE START GROW programme prov2des multiple pathways helping local people ￿0ve c105er to jobs or enterprise. The key to its design is flexibility and allowing people to self-select activities and work at their 0￿ry) pace. Reviving the Heart of the West End also designates reserves io fvnd the following projects.. Scholarship Fund is a three-year Scholarslll"p providing fman¢ial support for a course of higher education as well as technical and practical assistance during atjd after a Degree COLtrse. Applicants must reside in Newcastle's west end to be eligible. School UnRform Grant is a discretionary grant awarded each year to 13 local west end prIn￿ry and secondary schoo15 to assist with the purchase of 8chool unifornis for families often hit the hardest by chaiiges in welfare benefits or for those who are new to our community. Mttnuged Worksp4ee buildings at John Buddle Work Village and Buddle House provide office and workshop units for new and young start-up businesses to rent or virtual offJ¢e services to support the stan-up of new enterprises who are not able to make their first steps into premises. Achievements and Performance We have witnessed again an increase in demand for our support particularly through referrals frorn local organisations and agencies working with a diverse range of people. Through 5tronE networks and with ideas for it)novative services, we have engaged with more partners collaboratively to provide inftuence and expertise to develop responses with impact. During the period. we are delighted to report on suc¢es5es through our activities and collaborations together with new projects and initEatives that demonstrate how we respond to need and adapt to relevant oppominiiies that further support the needs of our beneficiaries. Based on our track record over the last four years of delivering activitses and 5errices under the EXPLORE STAET GROW framework we are part of new exciting partnerships with new funding Streams secured. Our impact evidence has been inslnllnental in the business Case and we are partners on two large funding progratmnes for employability and entetprise in Newcastle from 2023-2025. During year l.. 326 people accessed business advice and guidance support to explore working for themselves by starting up an enterprise or grow and existing enterprise. 128 people have engaged our Explore support for personal development io pursue next steps towards work. Our Managed Worknpace buildings, John Buddle Work Village and Buddle House achieved an ayerage occupancy of 84/0 and we supported 48 tenants over the period. Page 7 R.H.W.E. LIMITED A COIMPANY 1,1￿111.ED BY GUARAIYTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCF12024 Aehievements and Performance (conriiiiied) Winler WellbeinR Hub ie-registration in December 2023 provided a small pot of funding and we utilised this to Creative Crafts weekly sessions and our English Conveisation Let's Talk group twice weekly sessions. With iegulaT ETOUP COrL￿ll1tat10n, we have been able to evidence de￿￿Trd for specific employability support particularly from our BAME Communities and welcorned repre.8tntatives from DWP Job Centre to attend Let's Talk and observe the activities alld responseq of our parti¢ipant8. As & Work Thrive fformerly ihe Skills Hub) partner, we have a¢ce.%sed Newca8tle City Council Flexi Fund grant supporting joumeys into jobs or self-employment. During the period. we secured over £3,794 worth of small grants lo purchase support, training and resources helping 32 people on iheir journey into woA( or self-employment during ihe period. Imp(4ci me0sure￿￿￿tr. We have embedded the impact measLWe￿tnt tool Signal a5 part of our engagernent and regisiration pro¢ess for beneficiaries. Signal brings a unique insight into individuals willi a letnperature check on their life taking a holistic 360 perspective across a range of indicators. Coaches take the pafficipant ihrough a picture-ba8ed survey and together set goals and an action plan. People are able to reflect on different parts of their life and this helps build and develop the trusted relationship with their Coach putting each person in control of their decision-making. Local Lillk5 Our staff are actively encouraged to engage and support other charities. community and voluntary organisations and regularly volunteer their time for local good causes. Our CEO is the Chair of the Local Conununiiy Partnership Steering Board for the Nonh Ea8t Combined Authority of £1.4m UKSPF Conununities programme in Newcastle providing capital and revenue grants io local VCS organisations. She repregents the LCP and the NECA Learning and Insights Group. She represents RHWE at the Work and Thrive Employtnent Partnership (Newcastlel, Business and IP Centre Experts In Residen¢e, NELEP Growth Providerq Network, Newcastle City Council's Employer Engagement Fo￿rn, and the Community Organisaiions in Benwell and Scoiswood group (COBS). She also holds Trnsteeships at Footsieps Children's Services {2016) and St Cuthbert's Care12020). Charity Volllnteer Our Personal Development Lead volunteers regularly at The People's Kitchen in Newcastle working with people who are homeless and those in ¢ri%is. She is their Volunteer Welfare and Safeguarding Lead. Buslness and tP Expert In Resldence Our Enterprise Lead is RHWE'S representative on the BIPC North East's Experts in Residence group supporting new start. up$ and small businesses to access infomjation, advice and guidance. Page 8 R.H.W.E. I,IMITED A COMPANY LIMITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR THE YEAR EI*DED 31ST MARCH 2024 Financial Review As expected, the total income against total expenditure has re￿rned a small surplus in funds with an overall surplus for 2023124 of £13,590. RHWE'S inve8tment in the period in infrastrncture and %taffing resource was planned in line with our strategic review. During the year, we have delivered two large fi￿ded projects with activities and service5, we anticipate recruiting to three t)ew posts in the organisation to meet growing demalld. The staff team and CEO worked tirelessly to continue delivery and plan strategically whilst observing the challenges of increasing demand for our services and new funding streams announced with challenging restrictions set by procurement. The T￿Ste¢S were mindful of the risks and met regularly with the CEO for progress updates on the pur5uan¢e of new funding. The TTUStees together with the CEO have balanced competing prioritie8 when investing the Charity's assets,. to use the assets to generate a reasooable income. whilst investing them safely and in such a way that they are accessible to support cash-flow. The Trustees have Considered the iesults of our financial peifomiance foi the year and are assessing the actions required to deliver robust Ma￿age￿ellt strategies to protect the Charity in light of the ever-changing, socio-economic and political envirot)ment. Our project planning scrutinises all aspects of the delivery process with a high level of detail. and to accompany this our project bud¥eting is based on a botto]n-up costing method with all bl￿getS calculated to cover direct costs and tnake a contribution to core costs and overhead. Flnanelal Risk Management The Charity manages its cash resources, including sufficient working capital, $0 that op¢raiing needs are met withoui the need for short temi borrowing. Principal Fundingsources Aside from incotne geneiated by our managed workspace buildings. the majority of our fl￿ding cornes through grants, contracts and sn]all donations. We continue to PLusue new grants and Contracts through commission]ng to provide a mix of income streants into the Charity. In 2023124, the Charity was extremely grateful to be awarded the grants detailed below. The amounL% received during the year are Tecognised in note 5 of the finan¢ial statements. Rel#tion&l Mentorlng UKSPF fundlng: The Wise Group supporting Economically Inactive resident5 through personal development coachEng and ernployability support into jobs, training, education and volunteering. Localised Business Support UKSPF funding: Bu8iness and IP CentrelNewcastle City Council to support the HOW2 Stsrt and Grow Your Business projeci of pre-siar¢ start-up and existing business support business adlice appointtnents, workshops and resoLtr¢es. r+leweastle City Council: To support the Multiply Project. Nejveastle Clty Counell: To support the Well Being Hub Project. Page g R.H.W.E. LIMITED A cOmP￿Ny LI.TrIITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Financial ReTriew (rOntsiruÈd) CostAMalysis Wage5 and $alarie5, office costs and repairs and maintenance coniinue to be Ihe main ¢ost8 incurred by the Charity to enable it to deliver its ¢harilable activities. As En prior years. expenditure has been tightly controlled and as a con%equence has reduced from ihe previous year. however, a review of staff￿g as part of grow¢h plans will be key for the following financial year. Fundraising Income Generulio We have a clear strategy lor fundraising and income generation. Our EXPLORE START GROW progranune will be delivered through a mix of grant, charitable support, cotntnissions and contracts. This operates in conjunction with eamed income through trading frorn our n)anaged workspace buildings. The strategy respond5 to the challenges across funding and conunissioning with availability of large- scale grants becoming more litniled and cointnissioned work highly competiiive. As we continue to evidence posltive perforniance through EXPLORE START GROW, our development plans relating to potentj218ources of funding are corning to fNition with grants secured and new funding sources beillg proactively sought and re%ponded to. We have identified opportLmities for joini bids to develop with tru8ted partners where services are cornplemelltary and %upport our beneficiaries. Throu¥h intensive networking and relaiionship building with potential lead organisations, we have been invited into partnership bids for the delivery of employability and enterprise support with funding for (he years 2023-2025. We have had to consider the essential investment required in time and resources to Secure the sustainable future of our Charity in line ￿th our mission. Considerable efforts have been made by the staff team lo ensure continuous improvement into quality management systems, impact measuiemeni, project planning and managernent and budgeting and finance. The team has delivered excellent work in 5UPPOrt of the financial and operational plans contributing to the Charity's success. Investment Powers and Policy Under the Memorandum and Articles of Associafion, the Charity has the power to invest in any way the Trustees wish and the Trustee$ Yllust balance competing priorities when investing on behalf of the Charity. They tnust use the assets to generate a reasonable incorne., whilst investing safely and in such a way ihat they are easily accessible to support cash flow to make up funding shortfalls. The investment objective is to provide a balanced retum on inveslmenis with a low to medium level of risk. Given the nature of the Chariiy's investment portfolio, it is the Trustees, opsnion that the perfomiance on the investment was io be expected Page 10 R.H.W,E. LIMITED A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Financial R¢vi¢w Reserves Policy GDiKg Coneern The Tn￿ree5 have examined the Charity's requireinents in line with SORP. to hold reserves to cover up to six months of operatiotwl costs. Our poliey is revtewed annually and considers the key risks to the Charity. In calculaiing reserves to meet the operational needs of the Charity, we take account of the potential risks and confitTh cuttently we hold reserves equivalent ro 5 months of operational costs. The Trustees are Milld￿l of the need to be pn]dent in respect of our reserves leve15 and on that babis the Trustees will Continue to plan for unrestricted surpluse8 to fund investment in the strategic development and gr0￿h of the Charity. This will be achieved through coniinued income generation, identifying new unrestricted income source5 and robust f￿ancIal management. The Trusiees have Considered the Charity's reserves and reviewed the allocation of designated funds in 2023124. Debignated funds totalling £153,402 were provided for last year. E.%sential expenditure on property Itiainienance is planned for the next fllMn¢ial year and IT replacements are also due to take place. Based on anticipated costs, the Trustees consider it appropriate to allocate a Further £19.605 to designated reserves. This transfer ]% shoMI in note 16 of the financial StatemenL￿. The Trustees will continue to assess thts throughout 2024125 and reflect on short and long-tenn risks that they need to mitigate which are relative to asset purchase, unfunded essential activity and restN¢ture. Our Designated Funds reSe￿e covers.. Properly RÉpdirFuKd The Charity has two business centre buildings on a long-tern) full repairing and insuring lease from Newcastle City Council and the TnL￿teeS are aware that all properties will need re￿rb15hme￿t on an ongoing basis. This fi]nd sets aside e&%ential repair works and dilapidations as the buildings age. Developmenf Furtd The Tru81ees recognise that in expanding and embedding R.H.W.E. Limited new programmes, a fund is required to cover the development risks associated with d¢5igning and piloting new activities. Reslrnclure Fund This fund has been established to ￿nd the costs of any fvture restructuring 8t R.H.W.E. Limited. IT Upgrade Fund This fund has been established io fund the cost8 of upgradtng techllology infrastructur¢ including the costs of changing IT hardware and software. Tongible FixedAssÉÉ Fund This purpose of this fund is to fund future fLxed assets. Plans for Future Periods Reviving the Heart of the Wesl End will continue to play a significant role in the local community offering service% and support to local people whatever their circumstat]ce5 and overcoming peisonal and systemic barriers thai hold people back from bet￿r jobs and the chance io work for Ihernselves. Whilst the year to come will be challenging, particularly with the cost of living crisis, fuel poverty, and high infiation leading lo a downturn in economic conditEons, this could manifest in higher unemploymeni and fewer employment opportunities. Page I I R.H.W.E. LIMITED A COMPANY LIMITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 PlaD5 for Future Period5 {¢ottiliJMedJ With a reduction in availability of traditional funding streams and the end of European Union funding there is some uncertainty around operational income impacting on RIIWE'S ability to Tneel the demand5 and needs of all the beneficiary groups. We will build on ihe delivery of successes in the last year which has evidenced track record for future opportullities. RHWE remains rooted in its local community in Elswick and thi5 has ensured a strong connwtion and understanding of conununity life and challenges faced. We will continue to advocate for our communities and challenge the systemic limitations pui upon them. We remain ambitious in our practice5 and working to provide better bolutions. We continue to build a Strong %ocial media following and an inforniative website and explore networks and potential partnerships that encourage Commuttity cohesion. CoUabor2tion #nd Partnerships We are part of a strong community and voluntary sector in the Csty and will build on our 22 year reputstion to develop OppOrtL￿1¢1e5 we have identified and are discussing with key strategi¢ ¢hariiies who share our person-centrtc grass roots approach. Aeeredlted Tralnlng R.H.W.E. Limited is a registered ¢¢ntre for SFEDI - the sector skills awards body for enterprise and employ6biiity. We have mapped qualifications across a sample of our current activities to be able to offer accredited learnit)g that will open up potential new sources of income following positive conversatio￿% about funding with prime contractor%, funders and local Ente￿rISt agencies. We continue to engage with stakeholders 10 explore this avenue of potential work and funding for the Charity. Charity PrOr￿e Regular reviewing of our brand and marketing has developed a powerful identiiy for the Charity and we have refreshed and update the marketing of our managed workspace buildings. We have reviewed our marketing and social media plaiforn)s internally and improved direct marketing conununicalion5,' however, we recognise the need for a clear, consistent brand that reflects EXPLORE START GROW as well as the aims of our Charity. Board Trustees Strengthening the Board of TTUStees has brought positive developtnents in policy and practice. however, recruitrnent of new Trustees has been a challenge with many people facing competing priorities and unable to ¢ommii to a Trusteeship during the pandemic. We have developed a Ttustee Pack and will be carrying out a marketing activity to raise the profile of the organisation to attract new Trustees to bring our [llembers￿"p up to the reconunended levels in accordance with g(x)d governance. Advi50ry Sllb-Croup$ We will s¢ek to establish sub-groups to support key strategic operations of the Charity to provide essential feedback to the CEO and staff team and are designing a feedback process to enable participants and clients. to help shape and irnprove activitieb and services to be responsive io need. Pa8e 12 R.H.W.E. LtMITED A COMPANY I.II¥II'I'ED BY C.UARANI'EE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Reference and Administralive D¢¢ai1s Charity Nome.. R.H.W.E. Litnited Churtty Kftowrt Nume.. Reviving the Heart of the West End Charity RegEstrotioN Number.. 1093668 Company Rggistralioll Number.. 03359861 Regibtgred ojfice and OperationulAddress.' John Buddle Work Village Buddle Road Newcastle upon Tyne NE4 8AW Bankers.. Lloyds Bank 102 Grey Street Newcastle upon T￿e NE99 ISL Independent Eyaminey E. J. Hartshorne-Ferguson BA FCA Bell 'l'indle Williamson LLP The Old Post Office 63 Saville Sireet North Shield5 Tjme & Wear NE30 IAY Investmentmanaggys Heartwood Wealth Management Limited l Kings Way London WC2B 6AN Solieiiors.. Sintons LLP The Cube Barrack Road Newcastle upon Tyne NE4 6DB Dire¢loYs 4nd Tru.ftees.' The Directors of the charitable company Itlie Charity) are ils Trustees for the purpose of charity law and throughout this repon and the financial siaiemenLs are colleeiively referred to a5 the Trustees. The frustees who served during thc y¢ar were as follows.. M. B. Stoddart Chairperson.. Vice ChairpersoH.' R. G. Webb Tru5tee5.' W. McKay Company Secrelary.. W. McKay The key tnanagetneni personnel who served during the year were as follows: Chief E¥ectstive ojfieep.. Mrs A. lohn50ll The Enteryri5e Lead and the People Development Lead are also considered to be key management peTsonnel of the charity. Page 13 R.H.W.E. LIMITED A COMPANY LIMITED BY GUAIW4TEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Structure Governance and Mana ement Governing DocHmenl R.H.W.E. Limited was incorporated as a company Ismited by guarantee on 25 April 1997 (company number 03359861) and registered as a charity on 3 September 2002 (charity number 10936681. The company was esiablished under a Memorandum of Association which states the objects and the powers of the company and is govemed under ils Articles of Association. In the event of the company being wound up. the members are required to contribute an amount not ex¢¢eding £10. R.H.W.E. Limited operates as Reviving the Heart of the W¢$t End and is a long-stsnding member gf Locality - the natiot]ally recognised network for community led organisations. The principal object of the charitable company is the promotion for the public benefit of urban regeneration in areas of social and economic deprivation, and in particular Newcastle upon Tyne. Appoinimertl of Truslees The Directors of the company are al%0 Charity Trustee% for the purposes of charity law, and under tht compally's Articles of Association. Trustees are elected and co-opted, under the terms of the Articles of Association, at the Annual General Meeting (AGM) for a period of iwo years. af￿r which they must seek re-election. All Directors of the charitable company are also Trustees under the Charities Act 2011. Fomial recruitrnent procedures are in place and are reviewed regularly. Trustees may be nominated on the basis of personal values and motivation consistent with the obje¢iives of the Ciwity. TNstees are committed to actively taking part in th¢ govemance and strategic development of the organisation outside regular Board Meetings. They give their time voluntarily and receive no benefits from the Charity. The Tn)stee Policy is reviewed regularly and the Trustees and Chief Executive oifj¢er work together to recruit new Trustees with expertise aligned to the Charity's vision and area of influence. Trusiee IndMe1io￿ Trntning There is a fomial induction process for all new Trustees with the Chair and Chief Executive OtTicer. A briefiog is gsvet] together wsih a detailed infortnation pack, outlining the legal obligations under Charity and Company law, Charity Commission guidance, Memoranduni and Article5 of Association, a Strategic Platt, financial S￿tementS and minutes of recent Trn%tee meetings. Those interested in becoming a Trustee are invited to attend a Board Meeting as a guest before considering applying to be a Trustee. OrgaNisalionul Struclure and Deeision Moking Trustees are responsible for the govemance of the charity and meet regularly with the Chief Executive Officer who provides an operational update alongside discussion on strategic matters and the development of policies. Trustees are encouraged to provide support ill specifsc themed areas of the Charity where particular expertise and experience are relevant. The Cliief Executive Officer lead5 on strategic tnanagement and operational nthtteis holding team meetings to infomi decision making processes and providing a channel for staff lo regularly feedback on observations. ideas and challenges and ￿ share relevant information from cltenls, partners, stakehold¢rs or impact of external factors. Staff take part in meetings on matters including health and safety. marketing, impact, data, and quality. This supports the continuous review of practice, policy a[￿ procedures. Page 14 R.H.W.E. LIMITED A COMPLYY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Structure Governance and Mana Reluted Poty TruRsac¢ions We have a strategic voice across local, regional and national forums that are ¢ommunity-based. local auihority-led or sector and business specific incIL￿l￿g NELEP, NOTCA, Jobcentre Plus. NEECC, VONNE, Locality and Conne¢ied Voice. This has proved invaluable to the charity with improved organisational links leaditw to improved advocacy for our sector and incre&8ed collaboration for design2ng new services and identifying fL￿dIng opportunities ￿qth key partners. The organisation's sirategi¢ presence is additionally reflected through our CEO'S involvetnenl with the development and governance model for the Newcastle and North of Tyne CLLD programme of ERDFIESF funding movsng local people fi￿hest awav from the lobs market into work or startino a business. Poy Policyfor Key M4nugemerti Personrtel The Board of Tjustees give their tirne freely and no Trustee received remuneration during the year. The key n￿nagement peisotjnel (KMP) pay is reviewed annually and is nornially iticrea5ed in line with average earnings. KMP salaries are considered in line with pay levels of oiher charities and organisations in the sector and the region and with Consideration to the complexity of the role. the duties and responsibiliiies. Risk Monagemertt The Trustees understand their responsibility for the management of the risks faced by the Charity and work closely with the Chief Executive Officer. Appropriate systems. controls and procedure8 have been established with a Rifk Register to reduce our exposure; and, manage. monitor and mitigate risk and uncertainty. An annual review of the tnajor risks faced by ihe Charity is undertaken and the TNstees are satisfied that our procedures are in line with our risk nvanagement process. Risk management is considered at regular Tn￿tee meetings and any changes or new rs$ks identified ar¢ considered and responded to. Currently, the biggest risk the Charity faces 18 the loss of income from ihe rental of office space at our two managed workspace properties in the west end of Newcastle and income from grant funded programmes. The following are ¢onsidered major risks. for the Charity: FEnuncEal ri5k¥ income loss. exceptional costs, fraud, insurance cover. Governonce risks recTUitment of Trust¢e$ and managem¢nt, legislation and compliance. Operational Ris human resources, rnanagement infotmation. Quulity Ri5h competition risk. charitable objects risk, serious incident. breach of law. Exiernal Risks adverse publicity, government and local authority policy, competitors. Coryjoruie Gowernanee The Charity has internal measures and controls in place to manage expenditure and commiiments. The Chief Executive Officer works with the staff team to regularly refine these processes io improve efficiency and to ensure effective and con8iStent monitoring of projects cot]tinues lo meet the highest perftsmance Standards. Policies and procedures are regularly chwked and approved by the Board to en$ur¢ compliance and good practic¢. Page 15 R.H.W.E. LIMITED A COMPANY LII¥IITED BY GUARA￿'TE[ REPORT OF THE TRUS I'LLS FOR THE YEAR EIYDED 31ST MARCH 2024 Trustees, Res onslbilities in Relation to the FillaRcial stXte￿entS The Trustees (who are also the Directors of R.H.W.E. Limited for the purposes of company law) are responsible for preparing ihe Tn]stees' Annual Report and the fsnancial sthtemenis in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccoLmting Practice). Company law requires the TNstees lo prepare financial statements for each f￿anCIal year which give a true and fair view of tlie state of affair5 of the charitable company as at the balance sheet date al￿ of its incotning resources and application of resources, including the surylu5 or deficit for the financial year. In preparing th0￿ fJnan¢ial st2tement5, the Trustee5 are required fo.. se1￿1 suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP: Make judgments and estimates that are reasonable and prudent. State whether applicable UK Ac¢ounting Standards have been followed. subject to any material deparmres disclosed and eKplained in the financial statements. and Prepare the financial statements on the going concem basis uttless it is inappropriate to presume that ihe charitable company will continue in busine5S. The Trustees have overall responsibility for ensuring that the chariiable company has appropriate sysiems and controls, financial and otherwise. The Trnstees are also responsible for keeping proper accounting records which disclose with reasonable a¢cura¢y at ally time the financial p051tion of the charitable company and to enable them io ensure that the financial statements comply with the Companies Act 2006. The TTU5tees are also responsible for safeguarding the assets of the charitable company and for iheir proper application as required by charity law, and hence For taking reasonable steps to prevent and detect fraud and other irregularities and to provide reasonable assurance that.. R.H.W.E. Limiied is operating efficiently and effectively; All asset5 are safeguarded against unauthorised use or disposition and are properly applied; Proper records are maintained, and flnancial inf0m￿tIOn used within R.H.W.E. Litnited is reliable. and R.H.W.E. Limited complies with relevant laws and regulations. The Trustees are responsible for the maintenance and integrity of the Corporate and financial it)forn)alion included the charitable compangs website. Legislation in the United Kingdom goveming the preparation and dissemination of flnancial statements may differ from legislation in otherjurisdictions. Truslees The Board of Trustee5 are obliged to seek re-election, every two years, at the Annual General Meeting. The Trustees who are Dire¢ior8 for the purposes of conipany law and trustees for the puwse of charity law, who served during the year and up to the date of this report, are sei out on page 12. In accordance with company law, as the ¢ompany's Directors, we certify that.. Page 16 R.H.W.E. LIMITED A COMPANY LIIIITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Trustees. Res onsibilities Relalion to the Finaneial Statements icomlinued) So far as we are aware there is no relevant inforn]ation of which the Company's independent examiner is unaware; As Directors of the cornpany we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant infortnation and to establish that the Charity's independent exatniner is aware of that infomiation. Inde endent Examiner E. J. Hartshome-F¢rgusoll BA FCA of Bell Tindle Williamson LLP will be appointed as independent examiner for the ensuing year. This report was approved by the Trustees on 18th December 2024 and is signed on their behalf by.. R. G. WEBB Vice ChairpeTsoThIDire¢tor Page 17 R.H.W.E. LIMITED A COI¥TPANY LIMITED BY GUARANTEE IP4DEPENDENT EXAMILNER'S REPORT TO THE TRUSTEES OF R.H.W.E. LIMITED FOR THE YEAR ENDED 31ST MARCEI 2024 I report on the fmancial statements of R.H.W.E. Limited for the year ended 31st March 2024. which are set out on pages 18 to 29. RESPECTIVE RESPOTriSIBILITIES OF TRUSTEES AE4D EXAMINER The Trnstees (who are also the Directors of the company for the purposes of company law) are responsible for the preparation of the financial staiements, The Charity's Tjustees consider that an audii is not required for this year under section 144{21 of the Charities Aci 2011 (the 2011 Act) and that an independent eKaminalion is needed. The Charity's gross incotne exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountantg in England and Wale8. Havit]g satisfied tnyself that the Charity 15 not subject to audit Lmder Part 16 of the CompanEes Act 2006 and is eligible for illdependent exatnination, it is tny responsibility to.. examine the financial statements under section 145 of the 2011 Act. follow the procedures laid dowi in the General Directions given by the Charity Cotnmission under section 145(51{bl of the 2011 Act. and stale whether particular matters have corne to my attention. BASIS OF INDEPENDELYT EL4MINER'S REPORT My examination was carried out in ac¢ordan¢e with ihe General Directions given by the Charity Commission. examination includes a review of the ac¢ouniing records kept by Ihe Charity and a comparison of the financial statements presented those recordb.. It also includes Consideiaiion of any unusual items or disclosures in the financial statements, and the seeking of explanations from you. as Trustees, concerning any such n￿tterS. The procedures undertaken do not provide all of the evidence that would be required in an audit and, consequently, no opinion is given a5 to wh¢th¢r the F￿ancIal statements present a 'true and fair view, and the report is litnited to those matters sel out itL the statement below. INDEPENDENT EXAMINER'S STATEMENT It] connection with my examination, no matter ha5 Cotne to my attention.. which gives me reasonable cause to believe that, in any ￿￿terial respect, the requirernents.. la) to keep accounting records tn accordance with section 386 of the Companies Act 2006, and {bl to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006. Ic} to prepare flnancial statements in accordance with the m¢thods and principle8 of the Statement of Recommended Practice lor accounting and reporting by chariiies. have not been met. or to which, in my opinion. attention should be drawn in order lo enable a proper understanding of the r]nancial statements to be reached. £ J JlartsAonz£.ferguson E. J. Hartshome-Ferguson BA FCA Independenr Examiner Bell Tindle Williamson LLP Chartered A¢¢ountat)ts The Old Post Office 63 Saville Street North Shields. Tyne and Wear NE30 IAY CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS 18th tkcember 2024 Page 18 R.H.W.E LIMITED A COfwIPANY I.IMITF,D IIY GUARANTEE STATENIENT OF FILNANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Unrestrieted Desl nated Restrieted Fund5 Fllllds Funds 2024 Total 2023 Total Note5 INCOME: Incorne from Charitable Activities Invesiment Income Donations al￿ Legacies 265,983 1.369 481 265,983 1,369 98,065 260,048 792 194,725 97,584 TOTAL INCOMING RESOURCES 267,833 97,584 365,417 455,565 EXPENDITURE: Expendi￿re on Charitable Activities 262,820 97,584 360,404 414,832 TOTAL EXPENDITURE 262,820 97,584 360,404 414,832 NET MOVEMENT OF FUNDS IN FtNANCIAL YEAR 5.013 5,013 40,733 Unrealised ga1￿(lOS$) on investments 13 8.577 8.577 (6,4341 TOTAL MOVEMENT OF FUNDS IN FINANCIAL YEAR 13.590 13,590 34.299 RECONCILIATION OF FUNDS: TOTAL FUNDS AT 1ST APIUL 2023 185,515 153.402 338,917 304,618 TOTAL MOVEMENT OF Fuf4DS 13,590 13,590 34.299 TIW4SFER BETWEEN FUF4DS 119.605) 19,605 TOTAL FUNDS AT 31ST MARCH 2024 179,500 173.007 352,507 338,917 The Statement of Financial Actiiities includes all gain and losses in the year atjd therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities The rtoles pages 20 10 29￿￿r￿ p4rÈ of tkesefirt4rtei4lst41emertls. Page 19 R.H.W.E LIMITED A COMPANY I,ifvii'fED BY GUARANTEE BALANCE SHEET AS AT 31ST MARCH 2024 2024 2023 Lyotes FIXED ASSETS Tangible As'sets Investments 12 13 41,074 119,960 161,034 47,947 111,383 159,330 CURRENT ASSETS Debtors Bank and Cash Balances 14 86,642 336,041 422,683 31,546 359,536 391,082 CREDITORS- AMOUNTS DUE WITHIN ONE YEAR 15 231,210 211,495 191.473 179,587 NET ASSETS 352,507 338.917 Unrestricted Fllnds General Funds Designated Funds 16 179,500 173,007 185,515 153,402 352,507 338,917 Restrleted Funds 16 TOTAL FUNDS 352,507 338,917 These financial statemenis have been prepared and delivered in a¢¢ordan¢e with the provibions applicable to companie subject to the small Companies, regime and in a¢cordat)ce with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. For the year ending 3 1st March 2024 the company was entitled to exetnption from audit un(kr section 477 of the Cojnpanies Act 2006 relating to S￿￿1] companies. Directors, responsibilities.. The metnbers have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The dir￿torS acknowled¥e their responsibilities for complying with the requirements of thc Act with respect to accounting records and the preparation of r]nancial sthtements. These financial statements were approved by the board of director5 and auth0ri5ed for issue on 18th December 2024 and are signed on behalf of the board by.. R. G. WEBB Vice ChairpersoTrT)1rec￿r Company Nutnber '. 03359861 The noles on pages 20 10 29form pari of ihe$efinoncialslatemeMIs Page 20 R.H.W.E LIMITED A COIMPALYY LIMITED BY C.UAIW