Charity Re&5strotion No. 1097185 Cornpany Re8iStralÈon No. 04610820 DENS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DENS LIMITED LEGAL AND ADMINISTRATIVE INFORMAnoN Trustees l Tottman E McLauglln M Morgan M Warner S Allen M Eckert N Thompson P Srnart TJones C Barkin I stelfox (Resignation Date- 24107n0241 (Appointrnent Date-2610212D241 (Appointment Date-13111120231 (Appointment Date-131IV20231 IAppointmÈnt Date-13111120231 IAppolntment Date-13111120231 (harity number 1097185 Company nurnbÈr 04610820 5tsred offite address Bury Lodge l Queensway Hemel Hempstead HertFord5hire HPI IHT Webslte .dens.org.uk Auditor SCB IAccountant51 itd Chartered Accountants 31 Sackville Street Manchester MI 3LZ Bankers Lloyds Bank PLC 198-200The Martowes Hemel Hempstead Hertfordshlre HPI IBH
DENS LIMITED CONTENTS Trustee ènd CEOwelcome Trustees, report 3-13 Independent auditti¢s report 14-16 ststement of financial actswtles 17 Balance sheet 18 Stslementofcash flDW5 19 Note5to the financial staternents 20-35
DENS LIMITED TRUSTEE AND CEO WELCOME FOR THE YEAR ENDED 31 MARCH 2024 Th3nk you for taking the time to read our Annual Report for the period of April 2023 to March 2024. DENS ha5 grown significantly over the p3St 21 years from humble beginnings with o small number of churches worknng together to provide temporary nlght shelter accommodation ètr055 Dacorum, to an estsbllshed medium sized charity providing a range of seNices across Dècorum to support those facing homele55nes5. povervrf and social exclusion so thÈy can re-build their lives. What has rernained the same is our cornmitrnent to supportingthe community of Dacorum and placingour dients at the heart of everythingwe do. In 2023 we took some tlme to review our Values to define what ère the underlying principles and bellefs that are ot the core of what we do and that inform our decision making and developtnent, so we can contlnue to strlve for excellence and providlng the best service posslble for ourcomtnunity. Engaging all our staff and key stske holders over a &rnonth period, we a£ed on the fDllowing the Values; Integrity. Respect and Collaboratlon.. ntegrtty t DENS. integrity means doing wh we trub/ believe is in the best interests of our clients, olleagues, and the comrnunity we ser4e. We live th value by being accountable for ou ctions, havinggenuine open communicions. cle3r pro$Se5, and realistic expectstlons. espect t DENS. respect means being kind. honest, and trustworthy. We believe in valuing the pinions and CelebtIng the uniqueness of others. We live this ltse by rnaintsining a positive regard for our clients. colleagues, and stakèholders in è non-judgementol, unblase manner. Ilaboration t DENS, collabordtion means that together we are unlted. We believe that working i artnÈrship is the key to providing the best services lor tsur clients and the community. W Ive thi5 v3lue by adopting a One Teamlone 8oal mission ècross the or8anisation to achlev ur airns and ensure the b2st outrome for our tlients. These v3lues will continueto be at the heart and infomi 311 our work within DENS. During this financial year, dErnand for our servSces continued to increase and the range of issues our clients a facing becoming ever more ¢ompleK. We are constantly working to ensure we can continue to meet Increasin8 dernand and develop new and innovative ways of worklng to supportthe communityof Dacorurn. During thls year, this has included., Taknng second and thlrd year unlversity counselling students on IDng term placetn2nts. Nat only does thi5 increase ihÈ number of clients who can recelve therapy, but trainees 8ain slgnificant experlence in working with clients who have Èxperienced trauma. which will infomi theirpractitt in the future. 'Health Day, at the Elms, brinwng tO8ether a range of health and well-being specla115ts to our h05tel to meet with clEnts in 3 non-threètening and supportive environment. This included specialist sexual health. dru8 and alcohol support, Hepatrcis C, liver scanning and 8arnbling awareness. With fundine from the Trussell Trust and Nationwide, we have been able tD tantinue to develop and expand our community basÈd work: providing tailored advice and support to prevent people who are currently living in their own ¥cDmmod3tion bÈcDmin8 homeless or socially e%duded. A st8nificant arnount of this work has been supporting Clnts wth bud8etlng and debt management.
DENS LIMITED TRUSTEE AND CEO WELCOME {CONTINUEDI FOR ThIE YEAR ENDED 31 MARCH 2024 With fundin8 and support from DacDrum Borough Council. and due to unprecedented demand on our current crashpad, during the wint2r of 2023124 we set up a tempoBry nl8ht shelter at the Day Centre. The night shelter wè5 mobilizÈd within weeks, after experiencing a significant increase in dernand on our 3ccommod3tion services, resulting in our ffash pad re3chlng tapatity- The temporary ntght shelter not On providÈd a wami. safe space for those who may otherwise h3ve found themselves slèeping rough. it also provided anothertriaEe point to access tempotsry and longerterm accommodation, 35well as other support services A key focus In 2023124 ds the development of ourSc¢ial Enterprlse and aientTrnining proEramme. In April 2023 we recruSted our first Job Coach, to work with our client5 to 5UPPDrt them into employment Jnd trainSne. Our two sociBI enterprise projects, DENS Blke Project and the Forum Café which we ctrmanage wlth 5unny5ide Rural Trust. continue5 to provide a rèn8e of work expèrience opportunities for ourcllents and help them build their confidence in the workpl8CÈ. Fundamental to the success of DENS 15 our people,. our stsff, trustee5 and volunteers. WÈ are commftted to ensuring that i>ur 5tsff and volunteers have the skills, expertise and supptsrt to undertake the5r role effectlvely, and work withln the ethos of DENS Values. ThSs year we increased our menu trf btsth mandatory and additlOn81 training for all staff and invested in leadership training for our mÈn3gement team,. we intrOdUd a Menopause in the Workplace Poliry and training for mÈn4ger5 $0 they can best support 5tsff who are experiencing menopause or supporting another e¥perlencing menop2u5e.' and we increased the range of health and well- being support for our staff. We held events for our volunteers, an aftern(x)n to updats volunteers on DENS developments and, as part of Nati81 Volunteering Week, our annual thankyou b8rbeque. We also wÈlcorned 5 new trustees to the Board,. Andy Smart. Carolyn Manuel-B3rkin, lan Stelfox, Nigel Thompson and Tristsn Jones. They bring a range of skills and experience from the corpOte and public 5ettor, and we look forward to working with them. The cornmunity of Dacorum have continued to show thelr overwhelmlng 8enerosty durin8 th15 year. Wrth the c05t of living not only impacting our clients but a150 our donors, he need to diversrfy our incorne Sources is vitsl. In February 2024. we held or first Gala Dinner at Ashridge House. With the acror Adrlan ScaTborou8h as our @uÈst Speaker. the dinner was attended by 185 guests and raised £29,000 for DEN5. As we enter 2024125 we are tommltted to IdentSfylnB and developin8 additional service5 to support the community of Dacowm.. partitularly preventive, community based servlces so no-one has to experience homelessness, social exclusion OT povertv. We would like to Ihank all our supporters. partners and cur dedScated staff and volunteers vtho's cornrnltrnent to DENS and our tèuse means we can continue to make such a dIffenCe in Dacorum. Martln W DENSCh3irman Wendy Lewington Chief Executive
DENS LIMITED TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and finanti81 ststemÈnts forthe yeèrended 31 March 2024. The financial statements hwe been prepared in occordantr with the accounting policies set out note i to the financial st3ternents and comply wlth the charitable company's Igovernlng documentl, the Companies Act 2006 and "Accountirt and Reporting by (harSties'. Ststement of Recommended Practice applicable to chèrities preparing thÈir attounts in accordance with the Flnèndèl Reporting Stènd8rd applicable ift the UK and Republic of Ireland IFRS 1021 lettective I January 20191. Objectives and attltIeS The airns and overall objecuves remèln the same as agreed In Summer 2022. and the ¢ontinuetl fo¢u5 on being informed bv those with lived experience. DENS oim Is to be rheflrstport olctsllforpeople In Dacorum who orefvcing hornelessnessj poverty tsndsociol &wlusion.' to support trnd empower them ts tuke the nextposihve step in their lives, stcure ond sustttirt ts loftg-term houslng optlon and be tsn trttivernemberof theircommunity. We will do this by.. ensudng Individuals and famili have access tD emergenty provision5 and individuals have access to emergency advice, accomrnodation and facilities providing a range of services and pro8ramrnes 50 th3t people can develop the resilience, skills and confidence to tske the nÈKt step in their lives providins a range of accommod3tion optlons and support so people can rnove on and malntaln long tsrm tènènciÈ5 To do this we will neEd to.. ensure DENS is flnèncially Viable. ha5 skilled and comrnltted staff ènd volunteers,. and always mèlntalns extrptional levels of servite and professionalism ensure DEN5 is informed by the view5 and experiences of those with lived experience ensure all DENS services a provided in 8 non-judgerTiental and falr manner Puttlng the individual atthe heart of our sÈrvi¢es Ourservices To achieve ouralrns and objectives, DEN5 currently provide5 the followlng servlces-. DENS .' Funded by Dacorum Borough Council. the OLrtreach te8m work intensively with those identified a5 rough sleepers throughout the borough of Dacorum, They provide tailored and intense support to build trust and offer 3ccess io any servIS needed with a focus on brinEin8 people off the streets and into safe and stsble accornrnod8tion. The outreach workers will often accompany those with no temporary attommodation to key appointrnents including Mentsl Health, CGL (drug and alcohol 5UPPDrt servlcel, Probation etc. 46 referrals were recelved. DEN5 Da Centre.. Providing food, personal care facilities, IT ond phone charging facilities, advice and support during the day. As we build up trust and ropport, we are able to offer 1-2.1 advice and support. The Day Centre is a150 the main point of rEfeiral to The Elms. From SeptembÈr 2023 we cornmenced openini on a Sunday to ensure continued 5UPPDrt Dver the weekend. Overthe financi21 yearthe Day Centre was visited 3.636 tlmes by 276 Individuals. DENS Accommodatlon ervices.. The E1rn5 Hostel.. Our 44 bed Hostel provide5 tempordry and short-term accornmodatyon for single homeless people with a local tonnettion to Dacorum laverage 5tsy during this period 164 days). Each resident is assi8ned a key worke¥ Tthe rèsident and key worker develtrp and agree an Ind5vldual support plan. This may include sUPPOrting them to ccess mental health services. support for substancelalcohol misuse as well as èssisting them to sort out benÈfits, èccess èmployment 3nd training opportunities and identify altemative and appropriate forms of accon)modation. Residents are able to access therapy an Sndependent counsellor who holds sessions twice a week. Fellowship me2ting5 (Alcoholics Ancnymous and Cocaine Anonymous) are also held weekly at the Elms. Dogs can also be accommodated. This year the Elrns has accommodated 117 indNidua15, 59% of those leavln8 The Elms had a sutte55ful prowe$5ion.
DENS LIMrfED TRUSTEES, REPORT (INCLUDING DIREoRs, REPORT) (CONTINUED) FOR ThIE YEAR ENDED 31 MARCH2024 Therapy Services.. In-house therapy provided by an experienced therapist we also provide long term placements for uftiversity students 5upervlsed by our therapi5t,' increasing the number of clients who attess therapy, as wÈll as supporting therapists of the future to develop expertise with tllents dealing Wlth trauma. 1,309 therapy ses51on have been provided this year. Adverse Childhood Experiences (ACES) 8re "highly stressful, and Potsntially traumatic, events or situations that occur durlng childhood andlor adolescence. They can be a single event, or prolonged thatS to, and breathes of, the young person'5 safety, secuTIty. trust or bodily integrlty-" (Young Minds. 20181. Experiendng ACES can have a sigpifi(ant Impact ON future physlcal and Me37 health. Over the year we asked all our therapy clients to complete an ACE qUÈttionnalre,' 90% of respondents had experienTrd at least one form of 8t thildhood trauma.. % Clients presentlng with each ACE 10) 80 70 50 20 io Life Skllls Programme.. Supporting residents at The Elms to develop the ski115 they need to malntsln a tenancy and INE independently. The 6 week course includes cooking on a budget, gener31 budgeting and basic tenancy skills. 40 clients completed the course over the year. Thi5 course is recognised by Dacorum Borough Council as a tenanty su5ts1nment progtsmme. and cllents wht> have tt>mpleted the course will receive èddr(Son81 housing paint5. DENS Hamptons 5Èrvice.' E5t3bli5hed in August 2022. the prolert consists of S purpose built madular horne5, owned bv Dacorum Borou8h Coun¢ll, antl providing next 5tsge 8ccommod3tlon for cllents leaving The Elms. The modular untts provide clients vAth 3 fijllyfurnlshed property and prepare them for living independendy. DENS Move On Key Workers provide one to one support to clients residlng in the units. This h85 bÈèn an incredibly successful partnership project with Dacorum Borou8h Coundl. wFth all occup3nts successfijlly maintsiningtheir ten3nry and now ready to move into theircwn property. DENS Move On Servi. This transition 5erwiTr is for residents ready to tske the next step on from The Elms but who still qUi 5vpporr to transition back to Independent Ilving. Residents will live in shared accommodation manased by DENS. A key worker will support them, at first weekly then fortnlghtly for up to 18 months laver8gÈ stay 494 days) helping them develop skills and confidence to Iwe independently, manage a tenancy, and find employment. RÈsidÈnts liaise with Dther service5 such as our Social ENterpri5e servicE to either find employrnent or other meaningful artivity. Over the year Move On 5UPPOrted 36 client5. of the 13 that moved on 72% made successful progresslon&
DENS LIMITED TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR 7HE YEAR ENDED 31 MARCH 2024 DENS Resettlement Service.. The Resettlemènt Tèèm support sIdentS who are moving from The Elms to Council. Social Housing or private rental, for a maximum Df 12 month$. We h3ve seen a rise in the complexity of the needs of our clients includiTig more challenging mentsl health issue5, dual diagnosis and health Issues. The team work wlth partner agencles. 3nd closely wSth DacorJm Borough Councll to provide early intervention on tenanry issuÈs suth as breaches of tenanry and rent arrears. The èlm is to avoid the'revDfving door, of hornele55ne55, hElping people to INe Independently in their homes and maintsin their tenAncy. 81 Indlvlduals have used our resewement seryice, with 95% success tste. DEN5 Community Resettlement.. This newly developed programme Is working with those In the community who are at risk Df losing their tenancy. The Cornmunity Resettlement worker will support client5 around rnaintaining a tenancy and budgeting issue5. This 15 part of DEN5 commitment to preventing homelessness. 53 individua15 have benefitred Irorn thi5 servi. Cra5hpad.. Based at The Elms, the crash-pad provides ernergency overnlght accommodation for those tlients who we are not able to accommodate irnmediately. In the wlnter months, when tempèratures reach I degree Dr below, our doors are open to everyone, rÈgardlÈss Df their connection to the area. Thks provision is known as Severe Weather Emeryency Protocol ISWEPI and ensures those who would otherwise be kcln8 a dangerou5 night out In the freezing cold will instead have a hot meal and a warm bed for the ni8ht. Over the year 141 clients stsyed a total of 2,034 tirnes in our or85hpad. Winter Provlsion NTght-shelter.' During Dernber we experien£ed a prDlonged period of severe weather wrth temperatures dropping to -6C on some nights. Due to hiÈh demands and limited space wff(hin The Elms crashpad, we mobilised the Day Centre to use as an emer8enry crashpad. This was *unded by Dacorum Borou8h Councll. We ran the Night shelter initiative for 6 weeks and were highly successful In enga8in8 the town'5 rough sleepers. We will use the lèarning to inftjrrn our longer term developments and will dis¢u$5 the benefits with DBC and other pèrtners. Overthis period the Night shelter accommodated ig individuals 149 times DENS SrKial Enter rlses and Em I ent.. Sintr the DENS Bike projett relocated to new retsil premlses It has signifitantly In£re8sed in both sales and servicing. The Bike Projett continue5 to provide affordable bikes to the community whi15t olso providing an opportunity for DEN5 clients and her vulnèrable and socially excluded adults in D8corurn. to develop pre- employability and employablllty skills in 8 SUPPOrtive environrnent. At the end of Feb 2023, in partnership with another local charity SUnnlde ftural TrusL we tQDk over the rnanagement of the cafe in the Dacorum Borough Council head office. The cafe which 15 open to the public, provides work experience opportunitie5 for both Sunnyside 8nd OENS clients to d2velop skilb and expertise in barista and hospitslity. OCIAL ENTERPRISE DATA lients Referred to the Service lients Signed Up No Training Outcomes No Ernployment Outcomès No Volunteerlng Outcomes li m Foodbank.. In partnership with The Trussell TrusL DEN5 Foodbank provides food parcels and non- food household iterns to those in need across Datorum. Food parcels are distributed via our Foodbank in Hemel Hempstead, a5 well as other local distrlbutlon centres Ècross Dacorurn. Our Foodbank staff tan signpost V15itors to relevant agÈntiÈs ft>r support to help avold them facin8 food poverty, and prevent an ongDin8 crisis. People c3n access vobchers for the foodbank from over 180 dlfferent agéncies acr055 Oacorum, this includes otherthird settor oreani5ations, the council, schools, GP seNices and a range of other agencie>
DENS LIMITED TrusrEES' REPORT (INCLUDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 AchlevÈmÈnts and performan F¢)odbank Data: Vouchets 4.054 Adults 5,886 Child 3,967 Totsi fed 9,853 Unique Hgusehold$1719 RÈason5 for Referral outhers ildren Ri5in8 CDSt of essentials 1665 499 1755 Ongoing irnpact of physical or mentsl health condition 1095 1549 PriorSty Debt S4 14 Non Priority Debt 32 51 251 Benefit Delay 49 99 45 ENS Fin8nti21 Ern owerment P rnme.. Our first full yèar of providing this service, we faced challenges in engagln8 individuals in the 5eTvice5. We held a number of WOrhOp$ and events, including cooklng on a budget, whlch were well atrended. Thi5 project is a partnÈrship project wth Christians Ag3inst Poverty and tiberty Tearoorns. The projett aim5 to help rnembers of the ¢omrnunity who ère struggling financially by providing advice and skills with budgetln& and dealing with financial challenges, as well as debt counsellingforthose who need more intense support. Thè project 15 Still very new. but has alrÈady supported a numbeF of people to reduce their debt burden. All these setvices are 5UPPDrted by the CEO, Finance. Hurnan Resources, Volunteerin& FundraSslng and Communications servlce èreès. Fundralsin8 & Communlcaioons The challenges of the cost of Iniing not only Impatt our Clients but also our donors. wlth indniiduals having less disposabl income to donate. Our Fundraising team remain committed in their efforts to Sncrease and diver51fy our revenue sources. so we are not reliant on just a few income sourtes. We continue to be Immertsely grdteful to our local community, bu5ine5ses, churches, schools and groups who gp financlal support to DENS which enabl us to grow our servites and support more vulnerable pèople. 20 Year5 of Rebuildin H•lpiftg R•lNJld LA 20Yeors We hove celebrated L7 yeor of looking bthck the Imp(Jrt 20 yeors of helplng vulnerable people in Dotorum hus hLYd ond reMeMben0 how it ollsttsrted bGTck in 1998, when seven local churches declded to open their doots eoch night Lluring the hursh winter months. Then in 2003, DENS offloolly bectsrne o ¢harity with u perrnJnent nioht shelter. Since then. our services hoL*e expondedsignificonrlyyeoron yeor.
DENS LIMITED TRUSfEES' REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Journe As part of our 20th onniver5ary, WÈ werÈ 5UPPOrted by acclaimed lebrity photography. Rob Parfitt, for a series of portraits celebratlng the positive storie5 joUTney5 of our rllents throughout the years. We hope to Show these Impacrful photos in an exhibition soon. DENS AnnSversa Gala Dljner: Our 20th anniversary celebration5 culminated in a spertècular Gala Dinner in February.. sell-out event with 185 8uests at Ashridge House. A Ereat MIK of current supporters and potential new 5UPPOrter5 who between them ralsed £29,000. Feedback from ourgtsests was extremely posltNe and we hope to arrange a similar event in the future. HertFordshlre HI h Sheriff Award winne.. We were the proud wlnners of the Hert5 Hi8h Sheriff Awards for our achievements in supporting local people experlenclng homele55ness. Some of our key w0er$ attended the beautiful MlchaelfiÈld Hall in S8rratLtD be presentsd with our award by the High Sheriff. actful Winter A This ye8r, r8EhÈrihan organising thè Wintsr Appeal in-house, we worked with an e%tsrnal agenty tts help us tre8te a mo cornpellin8 and impactful appeal. Jodiè's story focusèd on 3 history Of homele55ne55 rooted in chlldh(K>d tr3uma, and her pathway to re¢overy5UPPQrted by DENS. Itwa5 emailed to 2,500 existing supporters a5 well as Posted to targeted local. Slee -out Success Over people swapped their c05y beds for sleeping ba coSlpciively rai5in8 £30,fKJO for DENS. Our SlÈepÈrs consisted mèlnly of community groups, scouts and leaderswith a kw indidUalS and parents. London Marathon Place.. We are allocated just one maTrthon place every 5 years, so vital that we chosÈ a fundrni5er who could commit to raising a signiticont èmount. We therefore held our own ballot system and awardÈd a place to an individual raised £1,500 3nd hi5 company match gave the same amount, totslling £3,LK)O.
DENS LIMITED TRusfEES' REPORT IINCWDING DIREcfoRS' REPORTI {CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 botstive W Berkhamsted Rotary Haff Marathon & Fun Run-WÈ WÈ one of threÈ ofFicial charities for this event which took place in March. We are proud of the relationship we have built up with the Rotary and were delighted to be presented with a cheque for £5,000 from thE proceeds ol the event. Wattord Football Club Comrrtunity Sleepout-Also in March, we were thrilled to work with Watford FC as well as our neighbouring homeless charities, One YMCA, New Hope, Herts Young Homèlèss to organlsè 8 tommun sleepout In the grounds of the football 5tsdium. Eath chBrity raised an astonishing £13,0(Kl frtsrn the proceeds. We oreregistered with the Fundroising Regulutor RaisingAwarenes5 We continue to be committed to raising awarene55 of Duf servlces and the is5ue5 faclng the people we support. you can see from the data table our re3ch contlnues to grow across thÈ channels.. DENS Main Platlomis Followerslsubscxibers Apr-24 28231+4.5%1 15851+0.6%) 16211*6.9%) 6711.1.3%1 34701+2.5%) 101701+3.2%> FatÈbook Twiner Instagrarn rikTok Email VolunteETS Without Volunteers DENS could not continue to provide the range of services and support for the cornmunity of Dacorum. Volunteers cover 3 nge of roles across the organlsètion including our Trustees, Event Volunteers, Fundraisers. G3rdeners, HR volunteers, Elrns Receptionlsts, Foodbank Volunteers, Oay Centre Volunteer5 and Student Volunteer Therapists. In this finèntièl yÈar 175 individuals volunteÈred for over 8,0 hours, ba52d on the national houdy average salary over the financlal year thls would oquateto £147,770.
DENS LIMITED TRUSTEES, REPORT IINCWDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review A5 of the 315t M3rch 2024, DENS recorded a surplu5 of £27.219 12023.. £8.1711. The total resÈNes for the charftsble cornpany stood at £1,028,67812023.- £1,001.4591. Out of these Nil12023.. Nil) related to restricted funds, £273,50012023.' £241,1)001 related to designated funds ènd leaving unrestrlcted funds of £755.17812023: £760.4591. The Board have 5ged a policy to 3irn tow3rd5 maintaining reserves of 3 months essential expenditure. This will allow the thèrity to meet Its obligations should it hwe to cease it operation5 or redu its activitiès in an orderly wèy in the liÈht of SIEnifltsnt budget cuts. This mean5 the required level of free re5erve5 is £498,696. Through the hard work and determinatlon of all staff, the 511PPOrt of local bvsine55es and the comrnunity of Dacorum, and the SucsS of a nurnber of fundraisSng Initiatlves we have continue achieved our 8im of 3 months unrestricted reserves. The Board is confident that with our fundraising plan forthefuture, we will be able to maintsith this level of reserves WÉ did see an increase in both business and individual donatitsns this year. particularly from our Corporate Strateyic Partners. Despite the required reserves incre3sing due to higher costs 3nd increased stsff. we have managed to maSntsin our unrestrlcted reserves above the three month polity level. DENS funding comes from 3 variety of sources, including but not excluslvely, houslng beDeffts for those within our accommodation seNices. grants from Herts County Council. grants from Lottery Community Fund, Henry Stnith and other trust making bodies, fundraising events and donations from busInees, community groups, thurches and indwiduals. Principal 8tsnt5 in this financial year included Herts County Countil 1£230.8611, etrntribution towdrds both the Elm5 and Move On Service, Household Support Fund from Herts County Council 1£85,3L31 toward5 Utilities and food costs for our Accommodation Services, The Lottery Community Fund towards the Sooal Enterprise Program 1£47,1561, Henry Smlth 1£33,2501 towards the Resettlement ProEramrne. Trussell Trust Erant 1£20,0251 for contribution towards stsffing costs, Trussell Trust restricted grant IE49,1631 for the Financial Empowerment Programme, Garfield Weston 1£18,0001 tOW3rds the Day Centre and Social Enterprise, The National Lottery1£75,0001 towards the running costs of the Foodbank and Day Centre and The Leather5ellers1£16,6671 tc>wards coun5ellinE for ourcllents. Businesses continued to be incredibly 5UPPOrtive in thi5 financial year, with donation5 reachlng £204,782. The community of Dacorum continuè tts bÈ genèrou5 with £222,626 Tri5ed through individual donations. We were once a8ain able to hold ourannual Sleep Out Event which raised £28,670. Fotrd is donated to the Foodbank and 15 then distributed tc families and Sndividuals in need. The value of thi5 donated food added £132.987 income. The valu3tion of food is made usSng the recommended TrussÈll Twstfood valu3tion of £L.701kg. The Trusteès have 355e$sed the rnajor ris to which the charltable company is expos and are 5atisPied those systems are in place to rnitigate exposure to ihe major risk Plansfor the Future The fo£us for 2024125 will be to CDntinue our cornmitment to Implement the strategy a8reed in 2022. Th15 will indude.. Identlfy additional accommodation options. Demand on our accommodation Services 15 ever increasing. and we are experlentSng 8 continuèl increase in dernand for the crash-pad. During thisfinancial yearwill focus on how we can Increase capacity of both ouretnergency and longerterm accommodation optlons. Working wlth Tenancy Deposit Scheme ITDSI a natlDnal organlsatlon, we wlll assess the role that the private rented sector currently plays as a cause of, at)d solution to, homelessness in Dacorum. Development of 3 new servicÈ delivery rnodel for the Day Centre. Wtrrking with our clients, we wtll be reviewing our current Day Centre provision and developing a new Model that more effectively meets the need cf our client group and supports our clients totake the nekt positive steps in their live. Working with DÈctsrurn Borough Council to oversee the building of the OENS Centre. Belng commi*ioned by Dacorum Boroueh Council,this purpD5e built facility will accommodate our Foodbanl Doy Centre, and communlty b8sed programmes. as well as providing meeting spatr for other ègencie5 to meet with clients and hold events. There will also be a soclal enterprise café on site. providing affordable mea15 for the community and training opportunities for DENS client5. Continue to dNersify our funding Streams and identlfy new SoUrS of funding so we can continue to develop our Seice5.
DENS UMITED TRUSTEES, REPORT {INCWDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Strucbjre. governance and management The trustees, who are also the directors for the purpose ol company law, and who served duringtheyÈar and up to the dète of slgnature ofthefinancial 5tstements were.. M Warner (Chairl S Allen (TreaSurI l Tottman E McLau8hlin M Morgan M Eckert IResigned-24107n0241 N Thompson IAppolnted-26102120241 P Smart IAppoSnted-13111120231 T Jones IAppointed-1311ty20231 C Barkin IAppolnted-L3IIV20231 I Stelfox IAppointÈd-1311ty20231 Key Mana8ement personnel arÈ as par below Name De5ign2tion WÈndy Lewngton Chief Executive Wade Dln8le Head of Community Serylces Trina Myatt Head of Finance and Resources Fran Martin Head of Fundrdising 3nd Communication Jocelyn GÈrner Head of 5o¢lal Enterprise and Employrnentsupport Sean Fitsgerèld Head af Accommodation Serwitrs 10-
DENS LIMITED TRusfEES' REPORT IINCWDING DIREcfoRS' REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Dall$ of Organisational Stnstture DEN5 B03rd of Trustee5 meets a minimum of 5 tlmes a year and is Te5PDnsiblÈ for the strateglc directlon and pollcy of the charity. The Chief Executive is responsible for ensuring that the charty delivets the services speufied and that kev performance Indicators are met. The Senior Man8Éement Team comprises of the Heads of Department and they have overall responsibllSty for the day to day operational management of thelr are4 and individual supervision of the staff and volunteertEam. This may be delegated to managers within theirteam. The Senior Management Team meets at least 20 times a year, and the DENS ManagementTeam (all marwger5 acros5 DENSI meet as required. There is a continuing prtrgramrne across the organisation to develop 5kn115 and working pra¢ti¢es. This Includes mandatory traininghr all staff, the Staff Handbook which is regularty updated and in 2021 the introdurtion of a Code of Ctsnduttfor all staff. RSsk Management DENS has a risk re8ister which Is revSewed bl-monthly by the Senior Managernent Team, with the 8oard being notified of any updates Dr changes. The risk reglster 15 then revlewed a mlnlmurn of 3 tirEs a year bythe Board. Remuneration policy Salarles are reviewed on the followin8 principle5-. DENS is a charity and balances its responslbility to reward sts*f fairty with the need to use fund5 responsibly and prudently ftsrthe benefit of t2nants and beneficiaries. ENS wishe5 to attratt local talent at a competitwe butfair rate. All pay decisions must be tsken With a viewto affordability 3nd sustsinability. All post holders are recmited to the ideal median Salary for their role thls means that there Is no p8y progreIDn a550ciated with len8th of service and there is no performance related pèy. Apart from Cost of Living increases, in order to increase salary the post-holder must be either promoted or there must be a Significant change to the currEnt position. Each post at OEN5 will be graded throuEh a Job Evaluation 5VStem that is applied fairly and objectively to all posts to measure their relatlve 51ze in the organisation. The grading will detemiine where the p05t Ss posltioned withln the pay structure. DENS will use external benchmarking data to ensure staff salaries remain competitivè wrch the der Èmployment rnarket. Thi5 benchtnarking vlill infDrtn the salaries within thE pay ladder 5tTUCture but Staff remuneration will ultimatEly be governed by affordabilty for DENS. The agreed paystructure is used for5Etting pay and remunerotion for all 5tsff.
DENS LIMrrED ThUSTEES' REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement oltru5tse5' responsibilities The trustees, who a also the dirertDr5 of DENS Lirnitsd forthe purpose of company law, are responsible for preparing the Trustees, Report and the financlal ststements in accordance wlth applicable law and United fingdorn Accounting Stsndards Iunited KSn8dorn Generally Accepted Accountin8 Ptacticel. Company Law requires the trustees to prÈp8re finants81 ststernents for each financial year which give a true and fair view of the state of affairs of the charitsble company and of the incoming SourceS and applicètitrn of resources. including the income and expenditure, of the charitable company for that year. In preparingthese fjnancial 5taternents. the trustees are required to.. - select suitable actountlng policies and then applythem consistently.. - observe the rnethods and principles in the Chartbes SORP.. makejudgÈmÈnts and estlmates that are reasonablÈ ond prudent., and - stste whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explainÉd in the financial statement,- prepare the financlal statements on the golng ¢ontrm basis unless it is inappropriate to presume that the charftsble ¢ornpany wlll continue in opeTrdon. The trustees are re5pon5ible for keeping adequate accounting records that disc105e with reasonable 3tturary at any tlme the financial position of the charitable company and enable them to ensu that the financial ststements comply with the Comp3nies Att 2006. They are also responsible for 5afe8uarding the assets of the charitable comp3ny and hence fortrking reasonable steps forthe preventlon and detection of fratsd ènd other irre8ulèrftie5. The Trustees are responsible for maintenance and integrity of the corporate and financial Informatlon included on the charitable company's website. Legislation in the United Kingdom goveming the prÈparation and disserninètion of financial statements may differ from legisl?tIon in other jurisdictions. A resolution will be proposed 8nd 8greed atthe Annual Generdl Meeting that SCB (Accountsntsi Ltd be re-appointed as auditor5 01 the Charity forthe ensuing perS0d. 12-
DENS LIMITED TRU5fEES' REPORT (INCLUDING DIREoR5, REPORn ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disdosure of information to audttor Each of the trusteès has confirmed that there 15 no information of which they are aware which is relevant to the audit, bLrt of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identrfy such relwant information and to estsblish that the audltor is aware af such information. rustees, reportwas approved bythe Boa ofTrustees. M Warne Trustee 13-
DENS LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DENS LIMITED Opinion We have audited the financial ststements of DEN5 Limited (the 'chèrftable tDmponVI for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cash flow statement and notes to the financial ststemems, including 3 summary of significant accounting policie5. The financial reporting framework that has been appllEd In thelr prep8tstion is appllcable law and United Kingdom Accounting Stsndards, including Financial Reportlng Standard 102 The Financial Reportlng standard applicuble In the UK ttnd Republic of Irelond Iunlted Kingdom Generally At¢eptÈd Accountlng PTrttIl. In our opinion, the financiol 5tstements.. ve a true and fair view of the ststs of the charitable company's affaits as at 31 March 2024 and of tts incoming resources and application of resource5. including its income and expenditure, for the year then ÈndÈd,. have been properly prepared accordance with United Klngdom Generally Accepted Accounting Prattice; and have been prepared in accordance with the qUIreMentS of the Companies Act 2006. Bashs for oplnloh We conducted our audlt In accordance with International Standards on ALtditlng ILJKI IISAS IUKII and appllcable law. Our respon5ibilitie5 under those standards are further descrlbed in the Auditor'5 SponsIbl11tes for the oudit of the finunciGI sttements section of our report. We are independènt of the charitable company's affairs in atcord3nce with the ethical requirements that are relevant to our 3udit of the flnancial stat ents in the UK, intluding the FRC'S Ethical Standard, ènd we have fulfilled Duf Dther ethlcal responsibilities in accordance wlth these requirements. We believe that the audit eVIden we have obtèined Is sufficient and appropriate to provide è b85is forovr opinion. Conduslons relatingto going concem In auditlng the financial staternents, we have concluded that the Trustee's use of the golng concern basss of accounting In the preparation of the financial statements is apprt>priate. BasÈd on the work we have performed. we have not identified ary mèteri81 uncertainties relating to events or condltions that, indlvldually or collÈctwely, may cast significant doubt on the Charlt¥'s ability to continue as a going concem for a period of at leb5t twelve rnonths from when thefinanclal statements are authorised for issue. Our responsibilrties and the spOnSibl11t1es of the trustee wSth respect to going concem are described in the relevant sectlons tsf this report. Orher Infomiatlon The other information comprises the Information Included in the TrustÈÈs' annual report, other than the financial ststements and our audltor's report thereon. The trustees arè responsible for the other inform3tion contsined withln the annual report. Our opinion on the financial tt8tÈments doès not cover the other inforrnation and, except to the extent otherwise e%plicitly ated Sn our report, we do not expre55 3ny forrn of assurance conclusion thereon. Our responsSbllity 15 to read the other infom)ation and, in doing so. consider whether the other information is materlally Inconslstent with the financlal statements or our kfttswledge obtained in the course of the audit or othenvise appeats to be materlally mlsstated. If we identify such materlal incon51stencie5 or apporent m*erial misstatements, we are requSred to determine whether this gives rise to a material misstatement in the flnaneial statements themselves. If, based on the work we have performed. we ctsnelude that there is a material mlsstatement of thls other Infom)ation, we are required to reportthat fact. We have nothtng to report in thi5 regard. 14-
DENS LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DENS LIMITED Opsnions ors other matter5 prescribed by the Companies Act 2006 In our opinian, based on the work undertaken in the course of our audit.. the Infom)atlon gfven in the Trustees. Report for the year ending 31 March 2024 for the flnanclal yeèr for whlch the linantial stètements are prepad iseonsistent wth thÈ finantial ststements.. and the Trustees, Report for the year endlng 31 March 2024 has been prepared In èccord8nce th appllcable legal requirements. Maners on whith we are required to report by eKeptlon In the light of the knowledge and understandin8 of the Charity and its environment (kntsined in the course of the audlt, we have not Identified material misstatements in the directors, Teport included within the Trustee's report. WÈ have nothing t<> fftport in respect of the following matters in relation to which the Compènies Att 2(M)6 requires US to report to you if, in our opinion.. dequate accountlng records have not been kept. or return5 adequ*e for our audlt have not been recelved from br8nche5 not visited by u5,. or the financial statements are not in agreement with the accounting records 3nd returns,. or certain disclosures of trustees, remuneration specSfled by law are not madÈ.' or we have not received all the inforrnation and explan3tions we require for ouraudtt.. Dr the trustses were not entitled to prepare the financial sl3tements in accordance with the small comp8niÈ5 regime and tske advantage of the 5rnall companies, exemptions In preparing the trustees. report and from the requirement to prep8re è strategic reporL Responsibilities of trustees As explained MO fully in the trusrees. responsibilitie5 St3ternent set out on page 2, the trustees. (who a a150 the directors of the charitable company for the purposes of company13wl are responsible for the prepardtion of the fin8ncial staternents and for being Satisfied thatthey give a true and fair view, and for such internal control 3s the trvstee5' determine is necessary to enable the preparation of financial ststÈments that are free from rnaterlal misststement, whether due to fraud or error. In preparlng the financlal statements, the trustee5' are spOnsible for assessin8 the charifdble ¢Dmpan¢5 abillty to confjnue a5 a going concern, disclosin& as applicable, matter5 related to goin8 concern and using the going concern basis of accountin8 unless the trustees. either intend to liquid3te the charitable company or to cease operatians, or have no realistic altemative but to do so. AudltOT reSpcS1tsll1t[es forthe audit of the finangal statemek)ts Our objectives ère to Dbtsin re850nHble 3ssur3nce about whether the financial statements as a whole are frpe frorn material tn155tatemenL whetherdue to fTrud or error, and fo issue an auditor's report that includes our opiTrion. Reax>nable assurance is a high level of assurance but Ss not 8 8u3rantee that an audit conducted In accordance wth Isk IUKI will abways detett a material misstatement when it exists. Misstatements can arise from fraud or errDr and are considered m3terlal rf. Individuallv or in the aggreKate, they could rea50nably be expected to infiuence the ettsnomic decisio of users tsken tsn the basi5 0+ these financial statements. Irregularities, includlng frèud, are instsnces of norFcompliance wlth laws and r2gulations. We deslgn procedures in sine with our SponsIbl11t1es. outlinèd above, to detect rnaterial misstaternents in SpeCt of Irregularities, including fraud. The extent to which our procedures are capable of detetting irre8ularityes, includingfraud, is detsiled below.. We gained an Jnderstsndlne of thè legal ond regulatory framework applicable to the company and the industry in whith It operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, Including fr3ud. We discussed with the Dirertors the policies and procedures in place regarding compliance Wbth 18ws and regulation5. We discussed amongst the audi£ team the idÈntrfied laws and gUlatIons, and remained 21ert to any inditations of non- cornpliance. 15-
DENS LIMITED INDEPENDENT AUDITOR'S REPORT IcopmNUED} TO THE MEMBERS OF DENS LIMITED During the auditwe focussed on law5 and regulations whlch could reasonably be 2xpected to gwe rise to è material mlsstatement in the financial ststements, includlnL but fitst limited to, the Companies Att 2006. UK tax legislation. Charity Act 2011. SORP 2019. Our tests intludÈd agreeing the financial 5tstement disclosures to underfying supportingdocJrnentation and enquirfes with mana8ernent. Our procedurÈs in relatlDn to frdud included but were not lirnited to.. inquires of management whetherthey have any knowledge of any actU31, Suspected or alleged fraud, and dlscussions 3rnongst the audit team rerdIng risk of fraud Such a5 opportunities forfraudulent manSpulation of financial Statements. We detsrmined thatthe principal risks related to postlng manual loumal entries to manipulate financial pÈrformance and management biasthrough judgements in 3ccountinE estirnatEs. We also addressèd thè risk of management override of internal contrtrls, including testingjournals and appropriateness of other entrie5 in the nominal ledger. wiewin8transactions arDund the end of the reporting period,. and ev41uatiDg whetherthere was evidence of bias by thÈ dirertors thèt represented a rlsk of mèterial misststernent due to fraud. Because of the Inherent limWitsns of an audit, there is a risk that we will not detettall irregularities. including those leading to a materi81 misstatement in the financial statements or non-complianTrwith regulation. This risk Increases the more that compliance with a law or regulation is removed frorn the events and tran$3ctions reflected in thefinantial statemÈnts, aswe wlll be less likelyto become aware of in5tsnce5 of non-compliance. The risk Is also grèater regarding irregularities occurring duÈ to fraud rather than error, as fraud involves Intentional Concealment, forgery, collusion, ornission or misrepresenrdtlon. A further description of our re5pon5ibilities forthe audh of the financlal statements is located on the Financi31 Reporting Council's websSte atw4vw.frc.org.uk/auditorsresponsibilitie5. Thls description forrn5 Part of our Report of the Independent Audltors. Use of our report This report is made solely to the charltable companvs members, as a body, in actordante with Chapter 3 of Part 16 af the coMnieS Act 2006. Our èudit work has bÈÈn undertaken so that we might state to the charitsble company's members those matters we are reguired to st*e tDthem in an audltors. report and for no other purpose. To the fullest extent permitted by law. we dD not acceptor assume responsibility to anyone otherth8n the charitable company and the charitable coTnpany's members a5 a body, for our audit work, forthis report or forthe oplnlonswe have formed. Mr. Jeffry Bor FCA Iseniorststutory Auditor) for and on behalf of SCB IAccountantsl Ltd Chartered Accountsnts ststutory Auditor 31 kckville Street M3nchester MI 3LZ Dale." 1311112024
DENS LIMITED STATEMENT OF FINANaAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR ThfE YE4R ENDED 31 MARCH 2024 Unrestricted funds DesiEnated funds Restrirted funds TDtal 2024 Totol 2023 Nate5 InLY¥rne and endowrnentsfrom.. Donations and legacles Charitable èCLwities Other tr8dinE activities Grants 648,724 880,783 73.170 L7,6LNJ 13,154 561.878 880,783 73.170 958.829 496.038 874,538 34.665 728.890 941,229 Total income 1,620,2 954,383 2,574,660 2,134.131 enditure on.. Raising funds 325.676 6.644 332.320 283.656 Charitsble actDlities 7A 1,267.382 947,739 2,215,121 I,g42,304 Tal rewuites expended 1,593,058 954,383 2,547.441 2,125.960 Gross transfers bÈtween funds Net inwme fortheyearl Na movement in futtds I32.5} 32,500 27,219 27.2L9 8.171 Fund balances 8t l April 2023 760,459 241.000 1.001,459 993.288 Fund balae$ at 31 Marth 2024 755.178 273.500 1.028,678 1,001.459 The Statement of financial activicles Includes all gains and losses recognised in the yEar. The statement of financial activrcies Include5 all g3ins and losses reco6ni5ed in the year. All Income and expenditure derSve from continuing activities. The sMÈment of financial actlvycles èlso ¢omplies wrth the requirements for 3n income and expenditure account under the Cornpanies Act 2006.
DENS LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangiblè 8552ts ia 778,154 786,930 Current assets Debtors Cash at bank and in hand 14 126,511 1.343,678 115,588 1,115,744 1,470,189 1,231,332 Credrto¥s: amountsfalling due wlthln one vear 1745.4151 529,5821 Net current assets 724,774 701,750 Total assets less turrent liabiltties 1.502.928 1,488,680 Qethtor5: amoums falllngdue after more than one year 16 1474,2501 1487.2211 Net assets 1,028,678 I,ODI,459 Incomelunds Unrestricted funds Designated funds Genetsl unrestitcted fvnds 20 273.500 755.178 241.OOD 760,459 1,028.678 1,001,459 The Trustees have prepared financial statements in attordancÈ with Sertion 398 of the Companies Act 2W6 and Section 138 of the Charities Act 2011. These flnancial ststement5 3re prepared in accordance wlth the special provlsions of Part IS of the Companies Act relating to small companies and constitute the annual financial ststements required by the Compènie5 Art 2Ch)6 and are for circulation to mernber5 olthe company. The financial ststements were approved by the Trust2e5 on.. . M Warner Trustee cc+npY Registration No. 04610820 18-
DENS LIMITED srATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flow51rorn operating actNitie5 Cash generated from operations 24 257.776 52,218 Investing adivities Purchase of tanwble fixed a55ets 117,4391 150,3871 Net ¢ash used Irbvè[¥1V1tieS 117,4391 150.3871 Financing activities Drawdown of bank loans 24 112,4031 111,3761 Net cash used in finandn8 actltIeS 112,4031 111.3761 Net ihcreasÈllde¢reasel In cash and cash equrvalents 227,934 19,5451 Cash and cash eoulvalents at bÈglnnlng of year 1.115,744 1.125,288 Cash and tash e4uivalehts at end olyear 24 1,343,678 1,115,744 19-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Acc¢untinB poIic4es tharity Fnlorrnatson DENS LSmlted Is a private company Ilmited by gu3rantee Sncorporated in England and Wales. The registered office is Bury Lodge, l Queensw4yi Hemel Hempstead, Hertfordshlre, HPI IFIT. 1.1 Accountlng cofivention The finanial statements have been prepared in 8tcordance with the ch8rit8ble cornpzry's 8oveming docurnènt. the Cornpanle5 Art 2006 Ènd 'AccountSn8 and Reporting by CharTrties'. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financièl Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021"18s arnended for accounting periods cornmencin8 from l January 20191. The charitable company Is a Public BenÈPIt Entity as defined by FRS 102. The tinanclal statem2nts are prepared in sterlin& which 15 the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the neasl£. The ffnancial ststements have been prepared under the historical cott convention, Imodified to intlude the revaluatSon of freehold properties and to include investment propÈrtie5 and certain flnancial instruments at tslr valuel. The prfnclpal 8(tounting policies adopted afft set out below. 1.2 Going concern The Charity's Fin4ncial Ststements shows a surplus of £27,21912023'. surplus of £8.1711 for the year and free reseTve$ of £724.7741, The TTUStees have assessed whether the use of the golng concem basis Ts appropri*e and have considered posslble events or conditions that rnight Cost significant doubt on the ability of the chartty to continue as a going concern. Trustees will continue to monitor and ensure Spending to be done in line income in order to maintsin tsrgÈt lÈvel of reserves. Thè review of cashflow for 12 months frorn the date of approval of the flnancial statÈmÈnts. the 4550ciated Èssumptions that underpin IL secured new intame and the steps that could be tsken to reduce expenditure should this be ne$sary. We reviÈwÈd the reserve policy and avallable free rÈsÈrves as well as modelled scenarios for attu81 and budgeted re5utts tounderstsnd the impatt of variou5 incorne and expendlture. Based on the information above. the Trustees have a re3sonable expettation that the charty has adequate resourcesto continue in operation for the foreseeable future and will remain surplus in future periods.Therefore, the Trusrees have adopted the going concern basis in prÈparing thÈse accounts. 1.3 Charitable fuhds Unrestricted funds are avallable br use atthe dis¢retitsn of the trustees in furtherance Df thelrchèrit8ble DbjettThfes. Restricted funds arÈ subject to sperific conditions by donors or grantors as to how they m8y be used. The purposes and uses of the re5triLtsd funds are set out Sn the notes to the financial statemÈnts. IA Income Incorne is recognised when the charitsble company is legalh/ entitled to it after any performan conditions have been met, the amounts can be measured reliably, 8nd it is probable that income will be received. sh donatlons are recognlsed on receSpt other donations are recognised once the charltable company has been notlfied of the donatlon, unless performance wnditions requlre deferrèl of the amount. 1ncome tax recoverable In rélation to donation5 received und2r GiftAid èr deeds of eovetyattt 15 reeognised at thetimè ol the donation. -20-
DENS LIMITED NOTES TO THE FINANCIAL sfATEMENTS ICONTINUf DI FOR THE YEAR ENDED 31 MARCH 2024 AcUnting policies (Continued) Lègaues arè recognised on rÈ(*ipt or otherwse if the chèritsble company has been notifled of an Impending distribution, the arnount Is known, and receipt is expeLted. If the arnount is not known. the legacy is treated as a contingent asset. 1.5 Expendlture Expenditure 15 recoEni5ed once there 15 a legal or con5trurtive obligation to transfer economic benefit to 3 thlrd party, it is probable that a transFer of economlc benefits wlll be requlred In settlement, and the amount of the obli83tion can be measured reli3bly. Expenditure is classifiÈd by activity. The costs ot eath activity are made up of the total of dlrett costs and shared costs, including 5UPPOrt Costs involved in undertaking each actlvlty. Direct costs attributable to è single activity are allocated dirertly to that artivity. Shared costs which conffibute to more thèn one attlvlty and 5UPPOrt Costs which are not attributable to a single attivity arÈ apportioned between those activities on a basis consistent with the use of resources. Central strff costs are allocated on the b3sis of time spent, and depreciètion charges are allocated on the portion of the a55et'5 Use. Costs of generatlng funds are costs incurred in attracbng voluntary income, and those Incurred in irading activities th41 raise funds. Charitsble activities and governance costs are costs incurrÈd on the charity'5 educational operations, includlng support costs and costs relatlng to the governance ofthe charity apportioned to charitsble attivitle5. Irrecoverable VAT is Charged as a cost against the actSvlty for which the expenditure was incurred. Allocation of support costs Support costs are those functions that asslst the work of the Charity but do not dlrectly undertake d)arltablÈ 8ttivitie5. Support costs include back office costs, finance. personnel, payroll and governance costs which support the charitys programmes and 3ctwities. All the general support and governance costs are allocated to activities at dlfferent percentages, based on the basis of stsff time re13Ung to each attivity. 1.6 Tan8ibleflx¢d assets Tangible fixed assets are Initlally MeaSud at cost and subsequÈntly rneèsured at cost or valuation, net of depreciation and Bny impalrment losses. The tspStalisation policy is £500. DepreclatSon Is recognlsed so as to write off the cost or valuation of assets less thelr residual Yalues over their useful Inies on the following bases.. Propety Refurbishment Fixture5 and fittings Cornputer5 3 year 5trdight line basi5 3 year straiÉht line basis 3 year strydight line basi5 Freehold Property is Valued at cLt I$ Impalrment. The gain or105S 3rlslnE on the disposal of an asset is determined as the differente between the sale proceeds and the carrylngvalue ofthe asseL and is recognlsed in net Income/le%penditurel fly theyear. 1.7 Impairment of fixed assds At each reportin8 Ènd date, the charltsb1e company vIewS the carrylni amounts of it5 tanEible a55et5 to determine whether there is any indicatlon that those assets hwe suffered an impairrnent loss. If any such indication exists. the recoverable amount olthe asset 15 estimated in orderto detenninethe extent of the Impalrment1055 lif anvl. 21
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢wut)tlng politres IContinuÈdl 1.8 Cash and cash equfvalents Cash and cash equivalents include cash In hand. deposits held at call with banks, other short-term liquid investments with origin81 maturities of three months or less, and bank <werdr3fts. Bank overdrafts are shown wlthin borrowings in 1.9 finandal Instruments The tompany only hès financial assets and financial liabllitSes of a kind that qualify as basic finanoal instruments. B8S1¢ financial Instruments are Inltially recognisèd at transactlon vèlue and subsequently tnea5ured at their settlement vÈlue with the exception of bank loans which are subsequently measured at amortised ¢ost using the effertNÈ interest method. 1.10 Employee benefits The cost of èny unused hollday entitlemènt Is recognlsed iftthe period in whtch the employee's serwces are rÈtÈived. Termination benefrts are recD8nised immediately as an expense when the charitsble company is deMonstb1V cornmitted to terminatè the ernployment of an employee or to provideterminatyon benefits. Lll Retirement benefits Payments to defined contribution t1ment benefit schemès are charged as an expense as they tsll due. 1.12 Operatint leases All leases 8re operating leases. and rentsls are th8rgÈd to the Ststement of Financi31 Actvie$ on a strd[ghIne basis overthe lease duration. No assets ère held under hire purchase agreements. 1.13 D¢blors Trade and other debtors are recognised at the seernent amount after any tTrde discount offered. Prep2ytnents are valued at the amount pPaId net of any trade dlscounts due. 1.14 Crerfitors and provlsions abilitie5 are recognised when there Is an obligatitsn at the Balance sheet date ès a result cf a past event, Y( is probable that a trdn5feT Df economic benefit Will be required in sÈttlemenL and the arnount of the settlement Can be e5tirnated reliab. knabilthÈS are recognised at the amount that the company anticip8tes It will pay to settle the debt or the mount it has recelved as advanced payrnents for the goods or services it must provide. Prow5ions are measu*d at the best estimate of the amounts required to settle the obligation. Where the effect of the tirnevalue of money is matsr131, the pros1On Is based on thÈ psent value of those amounts, discounted atthe pre-tax discount r3te that reflects the risks specificto the li8bility. The unwindlng of the discount is recogn15ed wlthin interest payable and simS13r charges. -22-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDEO 31 MARCH 2024 Accounting policie5 ICDntinuedl I. Crthcal Judgement In apptylng the tharitable comparw's accountin8 poli In the application of the charivs accountin8 policies, the directors are required to make judgments, estimates. and assumptions abDUt the carrying amount (>f assets and Ilabil1es that are not readlly apparent from other sources. The estim3tes 3nd a550ciated assumpt10r are b45ed on historieal ÈxpÈriente and other factors that are considered io be relevant. Actual sUlts may differ from these Èsbmates. The company rnèke5 estimates and assumptions ttsnterning thÈ future. The resuhing accounting estimates Mll. be definltion, seldom equal the related artual result5. The esrnateS and assumptions that have a significant rlsk of cau51ng material adjustment to the carryin8 a mounts of assets and liabilities within the next financial yebr are addressed below. lil Useful economic lives of tangible assets The annual depreciation charge for tsngible assets are sensltive to changes In the estlmated useful etonomit livès ènd residual values of the assets. The usèful economic lives Ènd residual vèluÈs are re-assessed annually. They ?re amended when necessary. The Èstimatès and underlying 355umption5 are reviewed on an ongoing basis. Revisions to accountlng estimates 3re recogni5ed in the period in which the estlmate Is revlsed where the revision affetts only that perfod. or in the perlod of the revlsion and luture periods where the revlsion èffÈcES both current and futurÈ periods. lill Allocation of shared c05t betsveen multiple octivities Support costs relate to those functions that assist the work of the tharity but do not directly rélate to charltsble artivities. Support costs include backthee costs. finènce, personnel, payroll and govemance costs which support the charity s proerammes and activities. These costs have been allocated between c05t of raising funds and expendlture on ch8ritsble Brtivities. All the general support and governance costs are allocated to actlvities at different percentages, 0 the basls of staff time rel*ingto eath actiwty. DonatÉons and Iwcie5 Vnrestrltted lund5 Restdtted fvnds Total Unrestrirted funds Re5Uirted funds Total 2024 2024 2024 Z023 Z023 2023 Donatlons and grfts 648,724 13,154 661.878 481,864 14.174 496.038 Donations and wft5 Individual donations Businè55 donation5 217.878 96.377 38,501 4,748 8,406 222,626 104,783 38,501 170,491 78,827 42,068 4,888 8,565 175,379 87,392 42,068 GIftAid Corporate StrdteKiC Partners Community Groups Event5 income Mojor Donor 100,000 72,676 88,292 35,0 ioo.ow> 72,676 88,292 35,000 54,204 75,424 60.850 54,204 75,424 61.571 721 648.724 13.154 661.878 481,864 14,174 496,038 -23-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Donatlon5 and leKo•es {Conned) Charitable actItieS 2024 Unrestricted fund5 2023 Unrestrirted funds Move On and The Elms 880,783 874,538 880,783 874,538 Othertradln8 actknies 2024 2023 Unrestricled Vnrestritted funds funds Coffee Cart Incorne Laundry tnonev Bike Project Inttrrne Other Income 781 717 61,20D 10.472 837 798 29,018 4.011 Othertradlng acriwties 73,170 34.664 Grant$ Unrestricted nds Restriaed lunds Total 2024 Total 2023 Herts County Ctsuncil Accommodation Solufjons Food donations Hertfordshirecommunlty N8tionwideCornmunity-MoveOn Henry Smith- Re5ettlem2nt Herts County Council Household gjpport Fund Trussell Trust National Lottery- Cost of Grant Other grants Lottery Community Ftsnd 230,861 132.987 230,861 132,987 221,058 101,902 io,ooo io,oix) 33,250 85,313 49,163 75.OCN) 277,499 47.156 10,000 33,250 85,313 49,163 75,000 295,099 47.156 47,108 17,600 319,764 29.058 17.600 941.229 958.829 728.890 For the year ended 31 March 2023 17.400 711,490 728,890 -24-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 MARCH 2024 Raisit)E fvnds unerICted funds Restrftted lund5 Total 2024 Total 2023 Fundraisin Other fundraising costs Wa8es and salaries Depreclatlon and ImpaSmient 66,727 257,758 I,L91 73,371 257,758 1,191 37,422 242.624 3,610 Fundraising and publicity 325,676 332,320 283,656 325,676 6,644 332,320 283,6S6 Forthe year ended 31 March 2023 Fundralsin$8nd publitsty 283,656 283,656 -25-
10 C O Ln m Lit o r4 Lts (fi ¢4 (ts r O pj Ln ¢¢) # Lts rit ts pj ro Ln CQ p4 Ln ID m ooth m Ea m MN 00 00 rn0 m v r r¢ o Ill&ilil'
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR ThIE YEAR ENDED 31 MARCH 2024 Supp¢Xt Costs 2024 2023 Wages and sal3ries Depredatlon Office stsff costs Other c05tS 225,563 815 213,898 1,173 3.667 3.087 2.628 5,062 14,869 8.208 254.517 224,453 movement in fvnds 2024 2023 The net mtsvement in funds is stated after charging/lcreditingl'. Depreciation of owned tangible fixed asset5 Auditoe5 remunÈration-Audit Feès Audvcor's remuneratlon- Non Audlt Fees 26.215 8.715 1.785 20.696 8.868 1,776 io Trustees None of the tru#ees lor any persons connetted wth them) recelved any remuneratlon or benefrts from the charitsble cornpany during the year12023.. £nill. -27-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 li Emplwees Number of employees The weTrge Month numberof ernployees durSngtheyearwas.' 2024 Nurnber 2023 Number Average employee numbers 51 47 Average Number of Employees CEO Charitable Activtbes Fin3nce & Admin Fundraising Social Enterprise 22 20 39 34 70 individuals volunteered ftsr DENS thi5financial year, across all of DENS servicesi provldlng7.000 of volunteering hours Employment costs 2024 2023 Wages 3nd salaries Social securty costs Other pÈnsion costs 1.348,618 115.212 28,268 1,205,371 106,884 25.683 1.492,098 L337,944 The key manaEement personnèl Df the thartty comprises Five rnember5 of stsff 12023.. Pivel. The totsl employee benefits lincluding emplDyer pension ¢ontribution51 received by key management personnel for their seNites to the charty was £289.08612023.. £274,272). The numbèr of employÈp5 receivlng employee benetrts Including employer natlon31 insurance contribution lexcluding employer pension contrlbutionl in exce of £60,000 on an annual ba515 are a5fcllcw5'. 2024 Number 2023 Number £80,000- £89,999 £60,000- £69,999 -28-
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEOI FOR ThTE YE4R ENDED 31 MARCH 2024 IZ Taxatlon The charity 15 an exempt charity within the meaning of Schedule 3 of the ChartbÈs Att 2011 and 15 considered to pass the tests sÈt out in P8r8graph I Schedule 6 Finan Act 2010 and therefore It meets the definrcion of a charitable cornpanyfor UK corporation tax purposes. Tansible assets Property RelurtshMent Fr90hold Fixtures and Property litlit)ys Computers Total At l Aprll 2023 Additions Disposals 56,94L 2,400 735,520 166,058 576 89,067 14,463 11,3501 L,047,586 L7,439 11,35DI At 31 March 2024 59,341 735.520 166,634 102,180 1.063,675 Depredatlon and lrnpalrment At J April 2023 Depreciation chèrged in the year Eliminated in respert of dispo58ls 56.941 667 150.234 5.495 53.481 20.053 11,3501 260,656 26,215 11,3501 At 31 March 2024 57.608 155,729 72,184 285,521 Carrying amount At 31 March 2024 1,733 735.520 10,905 29,996 778,154 Al 31 March 2023 735,520 15,824 35,586 786,930 14 Debtors 2024 2023 Amounts falling due within oneyear.- Trade debtors Other debtors Prepayrnents and 3ccrued income 19,240 13,134 94,137 27,537 14.692 73,359 L2G.511 115.588
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Is Crerfitor5'. amountsfalllngdue wtthln oneyear 2024 2023 Notes Bank loans Other taxètion ènd social security Deferred income Trade creditor5 Othercredltors Accruals 17 12,971 31,755 432,982 90.743 3.532 173,432 12.403 39.098 237,307 63,720 5,823 171,231 18 745,415 529,582 £8,40012023.- £8,868) 15 included Within the tsble above in respert of èuditots remuner3tlon for the performan of the audrft. Algo included above Is £2.10012023.. 2,0061 in respertof Huditors remuneration for non )udit seNices. 16 Crtditors: amountsfallin8 due after more than oneyear 2024 2023 Bank loans 17 474.250 487,221 474,250 487,221 17 Loansand overdrafts 2024 2023 8ank108n5 487.221 499,624 Payable wlthln one ye3r Payable within two to five year Payable after Fiveyear 12,971 58,098 416,152 12,403 51,621 435,600 The Ch8rfty Bank Limited loaned Dens Limited £248,5W during 2021. This Lvan 15 repayable at a rate of £1.433.92 from April 2022 includlng Interest. Interest Is payable at è rate of 4.65%.The Loan is reptyablè over 25 YÈars with the flrst repayment of Capitsl being due in April 2022. The Charlty Bank Umlted loaned the charitable company a further £262.5(M) by creating a charge on 23 Larthwood Road, Hemel Hempstead, HP2 SNA which is reapble at a rate of £1,262 per month. The interest is chargèd on d81 bèsis from the date of drawdown ol the amount. The Loan Is repayable over 25 years with the first instèlment due in May 2022 -30-
DENS LIMITED NOTES TO THE FINANCIAL ATEmENTs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 18 Delerred iht¢)me 2024 2023 Balants deferred at l April 2023 Amount relÈasÈd to Incoming resources In the Current Year Amount Oeferred duringthe year 237,307 1237,3071 432.982 182,8LO IL82,8101 237,307 432,982 237,307 Deferred incorne include grant and donation from Oavid Whitelèm,Events, Lottery Comrnunity Fund, Henry Smith,TTU55el Tru5tlAstl8,Enterprlse Development Fund, Trussell Tru5t- Financial Inclusion, Leatherseller5, O¢ado. SSE Match Funding Grant, Laxton5 etr. 19 Re5trfcted fvnds Balance at i Aprs12023 Income Expenditure Balance at 31 March 20Z4 Daycentre Move On Propertv Foodbank The Elms Fundraising Resettlement Social Enterprises 130,645 240,525 209,101 179,273 6,644 113,230 74,865 1130,6451 1240.5251 I2.101> 179,2731 16,6441 1113,3301 174,8651 954.383 1954.3831 Day Centre re5trict2d fvnd5 include grants from Garfteld Weston, The National Lottèry and Trussell Trust towèrds running costs, and frorn Dacorum Borough Council to run an emergency night shelter. The Foodbank *und Includes grants from The National Lottery and Trussell Trust, 3$ well as donatlons from buslne$5es and individuals which w2re to speclfically go towards runninE Costs. A notional figure for food donation5 is also included. The Elms fvnd relates to grants from Herts County Council and Datorum Borou8h Council to hèlp towards running cost5. We also recelved funding frDm Vanarama to cover the lease of ourvan. and a grant from Leather5eller5 which 15 to specifically go toward$ client counsellin8. The Resettlement fund includes grants from Henry Smith, Herts County Council and Nationwide to help towards running costs for this servite. Sooal Enterprise restricted fund5 include grants from The National Lottery. Garfield Weston, Dacorum Borough Council and School of social Enterprlse to go towards runnlnE costs, plus an individual donation which was restrirted to our Bike Projert. Move On fund relate5 to grants from Merts County Council and Dacorum 8orough Councll to help towards runnlng Costs. We also received funding from Vanarama to coverthe lease of ourvan whlch Is splitwlth The Elms. 31
DENS LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds The unremritted funds of the charlty comprise the unexpended balan5 of donation5 and grants whlch are not subject to specrfic conditions by donors and grantor5 as to howthey m3y be used. These Include designated fundswhich have been set aside out of unrettricted funds by the trustee5 for speclfic purposes. At l Aprll 2023 lttcorning resour$ Resources expended Transfers At 31 Marth 2024 Designated Fund Contribution towards New Building Fithng out New Build Relocation Cost Research Costs 150,000 8L.000 10,000 150,WO 90,000 lo,0 23,500 9,OOD 23.50D Totsl Desi8natedlunds 241,000 32,500 273,500 General funds 760.459 1.620,2TI 1,593.058 132,5001 755,178 Totrl Unrestricted Funds 1,001,459 1,520,277 1.593.058 1.028.678 Description. nature and purpose of desl8nated fund5: The Charity has had to relocate for four years whilst their site is redeveloped. Funds have been set aside to contrlbute towards thls, as well as their e5tirnated reoulred contribution toward5 the new developrnent. Cmtributian tttwards New Buildlrg Cost of fjttinz out new buildÈng Relocation 105ts Researth c05ts'. £150,000 £90,000 £IO.OOD C>ENS 11 commission Homeless Link (the national membership charlty for organisations WDrking wrth people experiencing or at risk of homelessness) to undertake research to infomi the developrnent of our future strategy,. this will include a scoping of the external environment. including lotal and national trends and policy development regarding our client Èroup and a dEep dive of our current client dats. Following the review and deep dhve, a report wlth recommendatlons will be produced focu5illE on improving relationships with external stskeholders. staff developmenL caseload rnanagernent, service development, funding opportunities. Servi tsrgetlnE Outcomes, and the use of the In- Form system. This will cost £11.500. DENS wlll also commission a market research comp3ny specialislng in workln8with third and public sertor or8anlsatlon5 to tomplete'in street, research to gather direct feedback from thÈ public regarding their awareness of DENS. This will be vsed to inform the development of future campaigns, marketing and fundraising. We expect this to cost around £12.000. -32-
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DEN5 LIMITED NOTES TO THE FINANCIAL ¥fATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Related partytransadions There were no disclosable related party transactions durinE the year12023- none). 23 Operadng leaserommltments At the reporting end date the charitable company had outstsndin8 commttrnents for future mlnimum lease payments under non-cancellable operating leases, whleh fall due as follows.. 2024 2023 Within one year 6,828 24 Cash Eenemed Irom operations 2024 2023 Surplu$ forthe year 27.219 8,171 Adjustmems for.. Depreclatlon and impairment of tsngible fEied assets 26.215 20,695 Movements in working captLèI= Ilncreasel in debtors Increase in creditors Increase in deferred income 110.9231 19,590 195,675 139.8651 8.720 54,497 Cash gener3ted from operatiohs 2S7,776 52.218 25 Analysls of ¢hanges In netfitnds At 1 April 2023 Cash flowsAt 31 Marth 2024 Net Cash Cash at bank and in hand 1,115.744 227,934 1.343,678 1,115,744 227,934 1.343,678 Debts Loans falling due within one year Loans falling due after more than one year L2.403 487.221 56B 112,9711 12.971 474.250 499,624 112,4031 487,221 26 Share capitdl The charity 15 constituted as a company Ilmlt•d by8uarante• and doès not ha a sharé eèpital divided by shares. -34-
DENS LIMITED NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 27 Ultimats Controlling Party The charitywss under the control of 8oard of Trusteesthrou¥houtthe year.