REGISTEREO COMPANY NUMBER: 04610839 (England and Wales) REGISTERED CHARITY NUMBER: 1099202 Re rt ofthe Trustèès and Consolidaled Financial Slatements For The Y•ar End•d 31 Mavch 2023 for Bromhead Chartered Acrounlarrts Slatulory AudrtotS H8rSCom￿ House 1 Llatklakè ymouth Devon PL6 TtL Warren House Grou At Dartin ofthe Trustees For The Year Ended 31 March 2023 The trustees who are also directors of Ihe thaiity for th¢ wrposes of the Cempanies Act 2006, present their report wtih the financial statemenls of the chanty for the year ended 31 March 2023. The truslees have adopted the provisions of Accounb"ng and Reporting by Charities.. Statement of Re(XMllrT￿nded Pra¢Jice applicable lo tharities preparing their accounts in ￿￿dance with Ihe Financial Reporting Slatvjard appl￿8￿& in thè UK and Republic of Ireland IFRS 1021 {effecti¥e 1 January 2019). Mès$ag¢ from Ruth Dobs¢n. Chair of Trustees This has been a wsitive ond succesthl year. in teryns of liglFiwct work, new parb)erships and ￿¢0￿¢ generab"on. The charty remains strong, vibrant and well-plawl lo ￿aY an important role in the sector. Last year we published our updated strategy - an integrated approath to evidence for Ihose working to I￿vrOVe outcomes for children and Y￿ng poople. This year we've been working hard to put thts into prac#icE. as you can read from our CEO'S message below. The mauoeconomic climate continues to be challenging- ttrro romains 3 lot of urKertainty and instabifity, with estimations about short- to medium-temi trends prowng hard to predict. The post-pandern￿ wntext. compounded by intemational conff ict. political instability aThJ the continuing cost-of-living ￿S1$ has strainèd Ihe rw6ources of central and local government. and philanthropy. What we remain sure of, unfortunatety, is that the most vulnetsblè children arTrd families wll continue to bear the brunt of tsse shocks to the system. This is being refiected in rising finanaal hardship, poorer phys￿81 and mental health and less certain ouuooks for chihjren and young peW's futures. This realtty 51renglhens our resolve to direct our work partners to hjentify and lad(le inequaiti"Ès faced by ehildren and young people - worknng Mrith wmrnunttEs and local kaders to design innovative and System￿ solutions to help safeguard the fulurÈs of young peq)le acsos5 the UK OnG¢ again this year. I'm deeply grateful to the W￿le ieam for unwav&ing commitsnant 8nd innovative work. Lèd by our dynamic and dedirated GEO and Senior Managernent Tearn. the Yknole stsff has continued to wJactniÈly assas8 wherè wè ean most imp8Ctfully add value to the ecosystem of suppcffts ar(MJnd chiklren. families a￿1 (x)mmunilies. We have grown in mary ways. furthér strengthèrung our serv￿￿ design and Systern￿ design fimctions- whith we anli(xpale being increasingly in demand in thg c(vning ywars. One major change for the organisation this year was that we said farewell lo our longstanding Chief Operating Officer. Brian Vvarren. who retired. We are grateful for his d6dicAted sÈr¥ieè lo the eharity, snd for helping us lo Sèaml￿ty w*ome our new Dtrector of Operations into role. As the team h8$ grown and evofved. so tfy) have our govemance strU¢XU￿S and ￿pabl￿¢s. This la81 year a number of new Trustegs have embraced their new roles. bnwng further insight and experi8nr￿, as well as refreshing perspecliv85. 10 our work. We have also updated our subcommittee stNcture to ensure we are meeting all of our govÈmance r8sponsibilities with professionalism and aL*ieving the highest degree of impad FyMiNe. l am. 8$ ever, exlremety grateful to the contributions of our exceptional Board. We look fotward lo building on the successes of the year, ensuring we r&main ag1￿, stmng and ready to play th8 most impactful role we can in addressing the challeroes that will Inevitab￿ t¢ fra¢ed in thè yèars to come. Message from OrTim Hobbs, CEO ofthe charfty I'm proud ol what our team has achieved this year We have foOJ￿1 on strengthèning our tsam to put into practice our strategy- taknng an integrated approach to the ger*ratK)n and usé of evKlÈntè to Nnprove outcomes for children and young people. This means generatiTrJ and using mbu5t Social reseatch data, and wothTrJ with young people and communities lo contextualise Ihis so ihat it can be used in prath.￿ to mearungtul arKI infThm d￿4810n8 that affect children and families. sin￿ laurbching the strategy last year. we've begun lo put into prarAKe some truly systemic ways. Working with a range of partners that previousEy, we've not woAed with. For example: w¢ have started an ambitious programrne of work with Grosvenor Hart Homes designing integrated models of so(aal housing ft)r (3Te-leaver5 and vulnerable families, encompassing social and m￿tal heatth suwjrt, advice and emplo￿ent opp)rtunities. We ve started work wth Young Lives vs Cancer to deeply understand the needs Df youNJ peoplè and families navigating cancer, and deggn what an effective system-wide ￿sponSe could look like. We are working wrth ¢ommitted partners tn Newham and Northern Devon to co-design ways ol addressing the systemic barriers that affect youn9 peopk's mental health and wel1b￿ng. AN of this dernands an innovative integration of researth, design and sy5twns Ihinking, and I'm de1￿hted in the prornise that our approaches are demonstrating. Our team is going from strpngth-tfrstren9th. We aio cwtinuing lo be innovab.ve in our methods and approaches. as well as building the skills and capabilities of tho% we wotk ￿ atKI seNe. We are o)ntinuing to advancè our 8pproaches to anti- racist research Ènd are steadily leaming and inve5tin9 in more equitable and embedded approathes to 18s6arch and design, including an increasing emph8sis en supptirbro embedded c￿mmunity research and ycwjth partKipolion in tyJr work. I'tn grateful lo the whcA* team and Ttustees for the dedii>tion and passion they bring to our work. and t() our wonderful partners for the dedication they exhibit in ifflproving outcome5 for children. young people and familiès. PagÈ I WaThen House Grou Al Dartin rt ofthe Trustees F r Thè Yèar ErtdÈd 31 Pla OPJECTIVES AND ACTIVITIES Objèctivas and aims The Warren House Group at Dartr'ngton WG) is the regisEered nane of the tharTty. It operates a trading subsidiary 'Th Dartington servi￿ Design Lab, a company tNo. 126136￿] limited ty a single share vthith the Charity wholly owrns., it also shekars the Centre for Soual Policy- whose aclrlityes drew to a planned dose Ihis year. Dartington Service Design Lab: We are a research and désign am (rf the tharity dediGgted to improving outcomes for children and young people. We innovate to ensure that resèarch and eV￿r￿? play5 a valued and impactful rde in the design and implementslion of serwces for childron and fa￿￿1￿$. Vve wor* in dose partnership wilh those commissioning. desigruw or delivering servit*s for children. Our WO￿ is grounded in data and •VKlenc8, as well as a deep understandin9 of put￿￿ systèms thè dtversè neèds and eommunty cont6xts th¢y serve. We bring togeth￿ experbse in s¢xial research. service destgn. systems thinklng and data Sri￿¢¢. Our BctNiiies Inc1L￿le children's services strategy develoFrfnenL Servi￿ design, rapi&cyde design and testing, system refomi, eviden￿ reviews and data anatytics and vi£ualisation- all of which you can read about here: ww.dartin9ton.org.uk. Slgnlficant actlvltles Over the last year. the Lab worked with over 25 tSffwent dwts on a rarMJe of acttvrties to help Ihem generate or use eviden￿ to inform theiT work and have a greater impacL Significant activities during the year indude.. Securing and commencing two larg&SCa￿ nthiwes that ah)w us to Inp￿Ment an integrated approach to evidence. The first is wth Grosvenor Hart Horne5. w innovative soual Ihxjsing venture that combines high quality housing, menlal heath support and jobs brokerage for care leavers and vulnerable families. The second is with Young Lives vs Cancel to devebp an organisational and sector-wide strategy to plug gaF6 ￿ psychosocial support for those navigating Can￿r. These larg&scale progrdmrrEs of woth bling tcwher research. data, eviden￿, Servi￿ design and systems thi￿ing. Commencing a thre&yeaT leaming partnership with UK Y(th and ther Thriving Minds grant programme- supporting over 100 youth sector granlees to ￿lId capacity and capabilities for providing mental health suppc41 as part of their core youth work aCtiv￿.e$. This is alongside other leaming Partner proieds, I￿ludIng those with Ihe Youih Endowment Fund and Bamardo's Four*Yation. {iiil Ongoing implementstion of larg&scale systerns change initiatives. This indudes Kailo.. a £5.3m research grant from UKPRP to co-design bcal strategies addressing the social deteminants of yOLm9 people's mental heakh and wellbeing. This year we have devdoped and refined Ihe tramv1￿rk and undertaken extensive programrnes of earty 'Discovery' in Newf)an and Northem Devon. engagirKJ With hundreds of young people, comtnunity and system 18aders to ￿￿eMilne local prioribes. Cfytssign of Ictal respcmses is rK)w und8Jway. (Iv) Ongoing evaluation of a range of Servi￿4evd and systems d)ange initiatives. This indudes the formative evaluation of LEAP an early yearfs syslerns change programme. Insights frDm two years of dovBlopment woth were concluded, paving the way for a final stage summalive ￿npact evaluation starting u) 2023r24. Evaluation activities also indude a range of inTh)vative theory-based evaluabons in thè cont•xt of youth èmployment and youth olence preventiC￿. {v) Condusion of a Ihree-year systems change prcoramme in ScotlarKI fc￿jSed on coerciv¢ relationship$ and emotional wallbèing." Early Acbon Systems Change. L8aming shared a rangè of local and national forum. Iwl We supported a range of small and large ddivery organisations workiThJ acr()ss England and S(X)Iland with thild￿n and familEs to deveb)p th¢ir athib"es. iTK4uding Iheory of chang¢ do¥doprrEnl and designing approaches to learning and evaluation. In responsè to in¢rèastng d￿and, aNI in line ￿th our stratw in whith we aspi￿ to Ixké an infftasingly intÈr-dis(xplin8ry appioach lo Qui work. we have incieasod the stsff team atXOSs MG and tho Lab this year. During 2022123. our team g from 19 staff to 24 by year-end.. including new service desigr￿[S. researchers and GommunKalions experts. Warrgn House Group activities: In addition to supporing the 8CtivitEs ol Ihe Lab. the thanty 81$0 putI15hed eight blogs sharing leaming and Insights from our work, focusing on themes such as innovab.ve approaches to Theory of Change development, appreciative enquiry and Go-design, ancf tOPlCS such as gender-based violerKe. young men's mertal health and young people's experiences oTrf cancer. Wanw Housè Gr￿ At Dartin Re For Tho Year Ended 31 March 2023 WÈ have also futher developed our organisational approathes to ￿k1 a ￿tt￿re of anti-racisl re8earth and design. building tho position p8p9r puNigkned in 2021. This year we produc￿ a blog shariro our ￿a￿l￿g arKI hr)sled 8 IEaming evènt for those workbllg in Ihe tQ share ￿arning and stimulaie further progress. &nce 19￿ the ￿1G has njn the Certtre &xial Poticy ICSPI. Thrs was established to provid¢ a resource for peO￿e who have left posts connected to est8blishÈd crgan15al￿Th& or who work indepebwjendy. It is a facility to be used as the CSP members (Fellows) wish but it provKle5 them ￿ a link to a mU￿18¢1P[ln8ry peer group and enables them to keep up to date with current isSL￿. In retum, Lab staff have reaty to a range of experts familiar its work. The current officers are John Diamond (Chair). Patitk Diamnd (WHG Trustee), Roger Bullock (Treasuw} and Brian Warren. and latterfy. Laurence Evans {Secretary). During 20221Z8, thè CSP held three serninars summaries of Ihese and om¢rgillg papers are postwj on the CSP web811e.' www centrelorsorial oli .uk. These covered topics induding public heatth responses lo COVID, dotnestic wolenGe. youth vidence, r￿tIonal and intemal•)nal apwoactss to Comm￿OnIng and tr8um&infomied sèrvieÈ8 for children and families. DLWing the year, the CSP Ethical Commtttee. ww ctsnpiises fve fdlows aThJ co-opted conSu￿￿ts as nee(led, gav¢ independent ethical appioval to six Lab researth prorJ)s*. 2022r23, it was collectively agr•ed by thè Cèntre arm1 VbWG Truste85 aThJ Executive to condude the CSP'S operations. Instead, going forwards, ihe ethul revwi functk)n wll bè 1rwrp￿*ed into the WHG infrastruclure (via the Lab Researth Ethics Commitiee ILabREC)I, aThJ we wll explore w>der opportLmitEs for seclor-knng peer-tweer collaboration and leaming fomm. Pa￿3 WaThen House Grou At Dartin Rè rt of the Trustees r Th Yèar Endtd 31 March FINANCIAL REVtEW Flnanclal posltjon Messa e from Treasurer- Joel Glover Slrong performan￿ in the previous year (2021r22) meant tst we started ￿ r￿AT finanual year ¥ stsvng pi￿lIne of potential Wofk that was of significant vJue over mUlti￿e years. The sharp focus on income generydlion throughout th8 fInar￿la1 year vras maintained throughout ￿Sulting in income of £1.W generated from op8rations. Thè Crèab.￿ of thè D8rtin9ton SÈMCÉ DÈstgn Lab trxdiru subsidiary in 2020 continues to alk)w us to deliver a wide range of more ¢ommer(ialty and ¢onstdtancy-based knnctths that are not ideally suited to the constratnts of beiryJ a arity. The macro8conomic environrnent has b8en volatile through 2¢Y22r23, ￿th 8 hwjh level of inflation being driven by variou8 factors i￿luding the genefal UK ftscal wsitsc*), th8 on￿Nn9 ècofK)mic Consequenc￿ of the Covid 19 pandernic. and the war in Ukraine. These factors a￿ rellecied in the -cost-of4ivin9 ￿1&., and Gre8te challenges for public and 3rd $o¢tor bodEs to finarre programmes for the social good. Despite this pressurE. pert￿pS be¢zuse of it, the work of the Lab remains more ne￿sary Ihan ever. The Board's goal has always been lo ensure adequate financial reserves to ensur¢ that We Can deliver tho aims of tt charity through uncertainty. c>Ynple￿ty aM￿gUty. Ihis goa remains. Thp Board ¢slablish budgets and a strategic approach to finance5 wilh the goal of a steaty increase in reserves that reflects the growng ctsst base of the organisath)n, the need to factor in the increased challeroes to the org￿lsation WHYèr SÈLtor. A material contributor to our bott(¥n line is the provisic￿ for pensions. The WHG has for a number ol years offered its staff a pension arrangement through the Unrvwsity Superannuation Schème {USSI. The latest actuarial evaluatDn of the USS has revealed a continuing def*it that Ihe charity must ￿cognISE its Shtt￿ of. Thi8 is reflected in 8 provision in 2022123 ac£ounts of £103.562 {21r22 £47.403). Athough li reduces th6 freè resèNÈs of the tharity. cash terms, the def￿1t is pa￿ over 15 years as an annual cash ojntribution to the USS. th the mtrvement in the w)sion provision of £56,139 this year the Un[eStr￿ted reserves of the thG have reduced from £1,211,463 to £1,165,487 wrth restricted reser¥es of£8,745. The Finance and Operations Subcommittee of the Board rrEet monthly aThJ cL)nlinues to monrfcor the financial and risk Profi￿ of the chgrity throughoLrt the year. ensuriTrJ a steady ffinawal footing and acceptablo lov¢1 of ffina￿al risk. balanced against the charitable aims and objectives of the chariiy. Ovwall. the charty is wdl placed to del￿￿ its charitable ot4￿bves whilst also meeltng thÈ finanrial goals the Tnjstées have sel,. it will continue to consolidate its pogion in the seclor and athieve a po$￿Ve impact for childien and familie$. FINANCIAL REVIEW Investment policy and objectiv•s Unrestricted, UndesIgnat￿ fvnds are hekj as cash in the bank and Wh￿ approptiato money is plac£d on limed depos to attract interest. Due to need to manage large fluduatjons in cash now. no money is currently placed in any other invèstment vehide. This is kept under regular review. The TnJstees have the power to invest the chartvs n￿neY not immethatety r￿u1red. for its obje0* in any investmènts, securiti¢s or property. Investment powets be Iklegated to a ffinan(xal expert prOV￿ed that the finanaal expert is.. An individual who is an authorised ￿r$On W[￿1￿ the meaning of the Finan(xal and Markets Act 2000. or A company or firm of repute which is an authorised or exempl petson wthin the meaning of that Aci except persons ex￿pt $018ly by virtue ofArticle 44 andlor Ar￿e 45 of the FInana￿ SeNsces and Ma￿etS Act 2(M)O {éxemptionl ordei 2001. Re5ervgs policy In 2022. the Trustees reviewed tts reserves poliry and Cl￿duded Ihat it needs lo have a minimum of 6 months of the annual forècast 8XP8nditure in unrestricted reservè vrilh a targèt lèvd of 9 months w) to a maximum of 15 months. Al 31 March 2023 the level of unrestsicled funds, not already destgnated, amounted lo £1,165,48712022'. £1.211,4631. There were £8,745 of restricted reseNes (those wtth restrtctions placed on th￿r use by the cknnors) at year end {2022.' The re8eNe levels held 81 the year end, woukl currently cover more than the minimum reserve levels required of £875,000 based upon a Cal￿118￿0n of 6 months of CUTWtly forecast operating expeThJiture. How8vèr, the r8setves CUTrenlly held are below the tsrgel level of 9 months and up to a maximum of 15 months. Page 4 Wa¢rÈn House Grou At Da￿n Re rt of the T￿￿te9$ ForThe Yèar Ended 31 March 2023 STRIJCTURf. GOVERNANCE AND MANAGEMENT Governing document The ch8¥ity 18 ¢(￿1r01]ed by its g¢)¥eming Ikujment, a deed of twst. and c4Jnstiiutes a fimited ¢ompany, limited by gu8r8ntee, as defirted by the Companies A(X 2C(6. The goveming dowmorrt5 of the dBritsble comp8ny are its Mem￿a￿dUm and Arbdes of Assocjation. The Dir￿tsr$ who are Trustees of the chartty ￿ ofh* during the year are lis￿1 separately in the Leg4 and Administrative Infomthn section. In mid-2019 an independent of the wemaru of the charity was undertaken and the OLrtcomes reflected well on the organisation. Of the minor efF￿enCY and best prackn recommendations presented to the Board, all have now been adopted. The Trustees meet four times a year wth athjitsond Meeti￿ being as ￿x$¥¥Y wth four sub cvmrllittees delegated to supp)rt the tharity at a nxre operat*)nal ￿Ve{ - these includ8: (i) Finan(*, Operations and Govemancè IFOGI" {ii) Strategy and lrnpad,. Ciii) Pec¥Ae', arn1 (w} S0)t￿ThI Subcommiitees. The day-ttsd8y man>3èmtnt of the charity is thè rÈÈponsibility of the CEO. Recrultment and appoirthent of new tr￿fee5 During 2U22123. four Trustees reb.red from the Board. ￿ are deepty gratefvl for John Drew's (CBE) nlne years of sèNits Its thè charty, Patrick Diamonds fNe years of Se￿￿ with JLdie Belangerfs and Dan Burke's three years, seNice. John Drew provided a weawh of experier￿ and insight in relation to children's seN￿S leadership. youth justice. Ghild pioteclion and safeguarding. PatriL* DiarTr)nd bcught signrficart "evidenc6 based" pthjlic poli experience wth a focus on the appliGati(xJ of Sue[￿ to our board. Jul￿ broutht a wealth of experien￿ to help advance c>ur own oryani58tionJ appr￿￿eS to learr#rvJ arKI wnpact, and Dan Butke eXpe￿Y supported our understsnding of systgJnic rÈform in thè putrAic sectsx. Followng a signTficant reGruttsllent carnpaign lo strgwutFTen our Board. have also appointed eight new Trustees and Wè 8rè dalighted wtth the breadth of eXperi￿ce they'll bring as we continue to enhan￿ our impact as an organisation. . David Derbyshire.. Director of Practice Improvement at Adicn for Chiklren . Shivwn8 Gate5: Impad Evaluation Speoalisl. Impact Lead at Frorrttine • Peter GEigg.' CEO at Homestsrt UK • Lynn Hendry.. Scoal justKe leader in Scouand . Maria Neophylou. Director of Strategy and Krbjwlety at NSPCC Carole Patrick.. Third Sector leader in Scotland • Lee Mauve Patron.. DireL#or of Educat¥)n and Heallh Communicaions- CoppaFeell • Hannah Sloddart.. Director of Strategy and Ir￿ight at Nalh)nal citiz￿ seThi￿ Trust (powéions shown atthe ltrme of appointment) Induction and training of new tr￿tee$ All Twstees have received an enhanced DBS ched( as well as an extensive, rigorous an(J on*oing indudion and training prccess covering such matters as awafeness ol a Trustee's reSP￿sIbI1￿y. the governing document, administra1ive procedures. the history and philosophical approad) of the chartty. All Trustees have rec￿ed copies of the prewous yearfs Annual Return report, a￿)UnIS and a wy of the Chaiity Comrnission leaf et Vhe Essenlkil Trustee.. ￿at you need to knovf. Trusteès ale also offered the oyportunity lo engage in training wrEh exI￿n￿ organisations. shouhl tW wish totake this up. STRUCTURE. GOVERNANCE AND MANAGEMENT Pay and Remuneratlon Policy Staff salaries aNJ progression a￿ implemertted using 8 salary banifjng Str￿ule, supwjrted by annual perfomiance appraisal pr￿$$. Following consukation, an outdated bonus sthÈmÈ was 8bolished arKI 2 new non-conlraetual trial schemè called the Health and Wellbeing Allowants was impl￿ented 81 the start of 2022123. This equitable approach proV￿e8 a discreb"onary quarterfy staff payment deswned to support activities or equipment thal promote staff health and wellbeing in support of a hèalthy wothArfÈ balance_ Feedba¢* on the scheme h9s proved positive, and it will continuè subjèct tri affordabilty. Page 5 Wam Housè Grou At Dartin For The Year Ended 31 March 2023 Risk managèmènt The Trustees have consider¢d the risks to whith th? tharity is exposed ar￿ have e5tabli8hed systems for miti'gatiTrJ those risks. Extemal risks have been minimiseil by the adopti(￿ of a new strategic plan, reviewed on quarterty basis, which includes a strategy for s•curing fijndg fn)m 8 wide rangè of s￿rI%5. Internal rBks are minimised by implementing procedures for authorising tRnsaGlwJns. prwts et¢. aThJ to ¢nsuro fX)nsistent quJty of delNery for all owralional aspects of the charity. The Trustees have a risk-management monitoriNJ regime vknich cCth￿ls8s". . A quarterfy review ofthe prinupal acthitie5, indudir¥J risks and u￿ertaintieS that the LAb face". . An IM%oing review of policies. systerr6 aThJ processes by the Ser4or Management Team of Ihe Lab to mitigate Ih05e rk5ks that are identified., . Thè iMp￿Mentation of ryo¢￿ureS designed to minimise or manage any potential negative impad on the chatity Should identified as risks materialise. Thè wncipal risk of finan081 sustanability for ts dptity is very dosety rnonitored and reviebved by the Honorary Trèasurèr monthly. and quarterty by all Trustees. Attenthjn also ¢xintinues to focus on non-finanoal risks arising from safeguarding, GDPR, h881th and $8fety. repulatth, security, ¢onfidenb"alty. welfare. morale etc.. which are supported by robust po￿￿¢5 and pioGedures as well as regular staff awareness updates. During 2022r23 an upjated programme of policy ￿vi￿ and upxlates has been in￿ated. Thè Charity have had due regard to printspals trf rècommendèd pr&aice5 as set out by Ihe 'Charity Govemance Code. and hav¢ applied these wh¢rpv¢r pradi(¥blg and in dwiston making. Page 6 Warrèn Hougè Grou At Darti Re rtofth8Tru For Thg YEdr Ended 31 March 2023 REFERENCE AND ADMINISTRATIVE o￿AlLs Rggistered Company number 04610839 (England and WalÈ8) Rggistsrgd Charity numbar 1099202 R•glstèr•d offic• Lower Ground Floor Higher fvlills Buckfast Abbey Bud(fastleigh Devon TQ11 OEE Trustees R M Dobson ChaiT ofTrust D C Archibald Senior IndeperKlent Director J J H Drèw CBE (rèsigned 27.10.22} P Di8rn0fKI I￿Signed 27.10.221 J R Glover Hollorary T￿asure[ J Belanger (resigned 15.03.231 D Derbyshire {appoirrted 12.522) S M GatÈs18ppointÈd 12.5.22} P J Giigg (appoint 12.5.221 M Neophyt¢)u (appointed 12.5.221 L M Patrontasch lapptsinted 12.5.221 H C Sttsddart {appointed 12.5.22 L Hendry {8pp¢inted 14.10.22} C PatrKk (appointed 14.10.221 Auditors Bromhead Chartered Accountants Statutory Auditors Harscombe House 1 Darklake View Plymouth Devon PL6 Solicitors Browne Jacobson 1 Manor Court Dix's Field Exeter Devon EX1 1UP Page 7 At Dartin ton ofthe Truste For The Year ErKled 31 March 2023 STATEMENT OF TRUSTEES, RESPONSIBILMES The trustees (who are also Ihe directors of Warm H￿se Group al Da￿"ngl￿ for the purposes of cc¥npany law) are responsible for prepariThJ the Report of the Trustees and finanaa statements in accordan￿ wrth awlicable law and United Kingdom Accounting Standards (Uniled ￿ngdorn Genwalty Accepted Accounting Practice). Company law requires the tnBtees to prepare finarKial stalernents for each financial year Ythich gNe a twe and tair view of the slate of affairs of the charitable company and of the irroming rescMJrces and application of resources, including the income and expendittjre. of the charitable company for that period. In preparing those financial stetements, Ihe try￿tee$ are required to seled suitable a￿￿u￿)ng polK4es arKI then appty them consi51entty.' o*serve the method8 and prinuples in the Ghatity SORP., make judgements and estimates that are re8sonable and prudent., prepare firtanual stslements on thè going coneèm basis unlèss it is ￿appropriate to Ptesume that the tharitable wmpany will Cont￿Ue in t￿sinesS. The trustees are reSponsi￿e ￿r kwng proper attounting records whth disckjse wtth pasonable a¢¢uraw at any time the financial position irf the charitaNe company aThJ to enable them to ensure that the financial statements comply wth the Companies Act 2008. They are also responsible for safeguarding the assets of the ¢J)aritablè compa)y and he￿￿ for taking reasonable steps for the prevention and detection offraud and thr irregularities. In so far as the trustees are thyare". There is no relevant a￿rt information of whtch the chaiitabte cc4Mp￿lS audttr)rs are unaware", and the trustees have taken all steps that they oughl to have iaken to make themsefves aware of any relevant audrt infomiation And to establish that the audrtors are aware of thal Nrfornation. AUDITORS The auditcn. Bromhead. be proposed for rtrappointment at the forlhcoming Anm￿l G8neral Meeting. Approved by order of the board oflwstees on ... . and sIgr￿d on its behalf by.. R M Dobson- Trustee Pagè 8 ort of the Inde ndent AudrtOfS to tho Mernbers of Warrgn House Grou At Darti Opinion We have al￿rted the financ￿1 statements of WaThen House GroLP N Dattington Ith¢ 'tharitablg ￿Mp￿,) its subsidiaries (the 'group') for the year ended 31 March 2023 whith comprise the Statement Of Financial Activities, the Balance Sheet, the Cash Flcw Statement and Th)tes lo the fnancial stat•ments, i)dudiThJ a summary of significant accounting policies. The financial reporting framewoTk that has been a￿led in their preparation is applicable law and United TrQngdom Accounling Standards {Uruled Kirudom GeJwaly Accepted A￿Ounting Pract￿e). In L)ur opinion the financial statements.. give a Itue fair view of the stale of tho group's arTrd of the pawt tharrtats4e CoMpa￿S affairs as at 31 Marth 2023 8nd of the group's incoming resourees aThJ a￿￿￿1￿ of resOU￿e5. ir￿udIng th8 grwp's inc￿￿8 and eypenditure, for the year then ended., have been properfy prepared in accorda￿ with United Generally Atrepled Att￿nting Practio,. and have been prepared in accordan￿ wrth Ihe requirements ofttbe Companies kt 20C6. Basis for opinion We conducted our audbt in accordan￿ ￿th Intemational Standards on Auditing {UK) {ISAs (UKI) and appIl￿ble law. Our responsibilities under those standards are fijrther described in Ihe ALpditors' reSp￿s￿lI1bes frJi the audit of the financial staléménts Èection of our report. We are independent of the group ar*J the parent charitable company ￿7 accordance with Ihg ethical requirements that ale relevant to our audit of the finanryal statements in the UK. including the FRC'S Ethical Standard, and we tsve fvlfilled our other etrMC￿ reS￿&bilItieS in accnrdance wtih these requirements. We believe that the audit &Viden￿ we have oblaine(l is suffiaenl and ap[￿riate to provide a basis for our opin￿n. Concluslons rdallng t¢ g¢lng cOn￿M In auditing Ihg finanrial slateffienls. we have cor¥Juded that the tru5tee5' Ltse of the going conwn basis ofaco)unting in the preparation of the finanaal statements rs apprviKFte_ Baséd on the wfxk w8 hav8 p8rformed, w& hav8 not idtsnlifi￿ any matÈriat [m￿rtaInlieS relaling to events or ¢ondity"ons that. indwidually OT collectrygty, may cast signitsnt (k)ubt on Ihe group and charitsble company's ablity to continue as a going Conce￿ for a peri￿1 of at least Iwelve morklhs from when the firwnrial statements are authorised for issue. Our responsibilities and thè ￿spOnsI)I￿treS of Ihè trustÈÈs th respèd to going (x)n￿rn are described in the relevant se¢lions ol this report. Other information Thè ttustees are re5ptsnsiblè for thè other inft)rmation. The other information comprises the infomiation indud8d in the Annual Report, other than the financi81 statemèrtts and our Report althe Independent Auditors thereon. Our opinion on the finan(Yal staterner￿ does not o)verthe other inlormtion and. except to the extent otherwise explicitly slated in our report, we do notexpress any form of assuwce oxduswjn thereon. In conner#ion with our aL*Yit of the financaJ stalements. our responybity is to read the other infomiation and. in doing so, cons￿er whether the other information is materially inwnsislenl with the finanaal statements or our knowledge obtained in the audit or olheTwse appears to be materialty misstated. If we identty such materkal inconsistencies or apparent material misstatements, we are required lo deterTrMn8 whether this gnies rise to a material misstatement in the financial statements themselves. If, based on the Work we have perfomied, we conclude that there is a material misstatement of this other informetion, we are required lo report that fax. We have nothirig to report in this regard. Oplnion8 on other matters preS¢￿bed by the Companles Act 2006 In our opinion. based on the work undertaken in the oyjrse ofthe audit: the information given in the Report of the Trustees for the finanaal year for which the financial slatemenls are prepared is consistent Mth the financial Statem￿ls,. and the Report of the Trustees has been prepared in ￿an￿ apFlThble legal requirements. Dmatters on which we are requlred to report by exceptlon In the light of the knowledge and understanding of the group aThJ parent charilabje ￿MpanY and ils environment obtained in the cY•ur3e of the audr(. we have not *Jentified material misstatements in the Report of th8 Trust88S. We have nothing to report in res￿ of the folk)witYJ matters Whe￿ the Companies Act 2CK6 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept by Ihe paMt d￿ritablE company or relums adequate for our audit have not been reLeived from branth•s not Vk8tted by us., or The parent company financial statements ara rK)t in agfftement with the a¢￿Unting re(xyds and rettjms.. Dr certain disclosures ol tru5tee5' [emu￿ratIon Sp￿lfi￿ by law aTr not made". or we have not re￿iVed all the informaton and explanati[￿$We requiie foi ouraudit.. ot thè tmstees wÉrè nol énblèd to piepare the financial 5ts1ements in a￿rd￿n￿ with the Small companies regime and take advantage of the small eompaniès exempbon from the requirernent to prepare a Strategic Report or in preparing the Roport of the Trustees. P4e9 ortofthe Inde endent Auditors to the Members ol Warrèn Housè Grou AtDartin Re$pon$ibilities of trustees As explained more fully in the Statement of Twst8es' RespMsiTr)1lsbès. the trustees (vtho are also the dlrectors of the arf(able Gompany for the purposes of company lawl are responsiblè for the preparalion of the financial statements and fof being satisfied that tw give a true and frdir view, and for such internal Ctsnlrol as Ihe tr￿leeS deiermine is ￿e￿Sary to enable the preparation offin8ntial statements that are tree from material mis5taternwrt. W￿ther due to fraud or error. In preparing the financial statem￿ts, the Irustees are respon*ble for assessing thè group the parent charitatA8 companls ability to continue as 8 going (x)Ewn. disdosir¥J, as applicable. matters relatèd to going eoncem and using the going concem basis of accounting unless the tru¥tèÈs wther intend to Iw]uidate the group w tho WTnpany or lo cease operations, or h￿¢ no realth dtemative bul to do 30. f>Jr responsibilities for the audlt of the finaneial staternwts Our objectives are to obtsin reasonatde assuran¢> abtyth whethèr the financial Slat￿nents as a whole are free from mateiial misslalernent, whelher due to fra¢Jd or enDr. and to k￿lè a Report of the Independent Auditor5 that indudes our opinion. ReaSonaL￿e assurance is a high levd of a55urance. txrt is rKJl a guarantee that an audii conducted in accord8n￿ with ISAS (UK) will always detect a materiaj misstaterr*nl when it extsts. Misstatements can arise from fraud or etror and are wnsidered material if, individualty or in the aggregate. they could reasonably be expected to influer the econotnic (kcisions of users taken on the basis of these finawa ststements. lffegulariti&s, induding fraud, are rnstsnces of norFcompfIa￿e laws ar￿ regulatTrons. We design procedures in line with our responsibilities, outlined above. to detect material Er*SsIat￿nents in ￿pect of irtegularilies, I￿aLid4￿ frdud. The extent lo whiGh our pr￿edureS are Capab￿ 0fde￿*￿g irregularitses. induth.ng 15 detai18d b8h)w'. We obtained 8n understan(frng of the laws and reguklions applicable 1¢ Iho IxHnp8riy through discussions wth mana9ement, and thosè charged with govemanrE. These laws and wulalions whith wgre considered to have a ¥nalerial ¢ff¢rt on Ihe financial 51alements or operatK)ns of Ihe conN)any were iderrtfvj iThAuding following: Companies Act 2006, Ernployment Law. Heawh and Safety Acl. Data PrctectN)n Aci & charit￿s Art 2011. We obtained an undÈrstanding of thé entrws wlrie5 and procedures for assessin9 fraud risk and idenlifying actual or alleged fraud by making enquiri&s wth rnanagernents and those charged with govemance ar￿ reviewing supporting COtrespondeno¢ with refewant authorits'es and thsor5. W& obtainèd an understanding ofthe effeciveness ofthe entitses control environn*nt by lesting of management ove￿Ide of controls, which iNd￿jÈ$ but is limited lo- lesling of ioumal entries, review of assutnptions and judgements made in a¢¢ounb"ng eslimale, and reviewng tran￿t￿?￿S occurring (Mjtside the norrn31 s(x)pe of business. Thè use of qu81tfied and experienced staff members to ensure Ihe a￿rt team is (x)mprise(l of only competent and Ggpable mèmbèrs who are ab￿ to recognise and ¢knJmeni any inslan￿$ of tv)n-wmptiano. A further description of our resportsibilities for Ihe audit of the financial statements is located on the Finanoal Reporting Gounol's website al wWw.frc.org.u￿JaUd￿0[sreSponSlb1lI1les. This d8S(xiptTrtin forms part of our Report of the Independent Audrtors. Use of our report This report is made soldy to the charitable company's members, 8S 8 body. in accordan￿ wilh Chapter 3 Of Part 16 of the Gwpanies Act 2006. Our audit work has been undertak&n so that we might slale to the charitable company's members those rnatters we a￿ required to slate to Ih¢m in an auditrrf3' report and for no other purpose. To the fullest extènt rermitted by law, we do not accept or assutne responwbilty to anyone other than the charitabl8 company and thè charitabte cx)mpanYs rrembers as a tody. for our audti work, for this ieport, orfor the opinions we have fom)ed. James Gr s (Senior Statutory Auithtorl for and on behalf of Bromhead Chartered Accountants ststutory Auditors Harscombe House 1 Darklake View Plymouth Devon PL6 7TL Date.. Pagtt 10 arren House Grou At Dartin Consolidatgd Statement of Financial Activities Ineo an Income and Ex nditure Aocount For Thè Year Ended 31 March 2023 31.3.23 Total 31.3.22 Total funds unrestn.dd Restsi(aed funds funds Notes INCOME AND ENDOWMEKfs FROM Donations and legacies 4.126 4,126 16,627 Charitable actrvitig¥ Resèarch 8nd DevelowHent 1,610.684 1,675,481 1.386,771 Investment incon Olher income 6,708 325 6.708 325 1.461 Totsl 1.621 64.797 1,686.640 1,407,332 EXPENThTURE ON Raising funds 1974 2.974 Charitable activities Research and Devdopment 1.664.845 S6.052 1720 897 1,368,891 Total 1.667.819 56.052 1,723.871 1,368,891 IN¢OMEI(EXPENDITURE) 145.9761 8.745 137,231) 38.441 RECONCILIATION OF FUNDS Total funds bTOU9ht forward 1.211A63 1,211,463 1.173,022 TOTAL FUNDS CARRIED FORWARD 1,165487 1 174.232 1 211.463 The notes fotm part ofthese finanaal statements Page11 Warrw Housè Grou At Darfin "stered nwnber. 04610839 car￿Aldated and Cha Balar￿e Sheet 31 March 2023 Charlty 2023 Group 2022 Charlty 2022 2023 Noles FIXED ASSETS Tangible assets Inv8stments 12 13 28.250 6.162 31.797 3.361 26,250 6.163 31.797 3,362 CURRENT ASSETS Debtofs Cash at bank 14 739,001 755.142 838,327 60 905 646,611 929.684 539.968 1A94.143 1h41.232 1,576,275 1,256,741 CREDITORS Amounts faI￿ng due vathin one year 15 1242,599) 1226.741) {WJ.206) {238,694) NET CURRENT ASSETS 1.214A91 1227.069 1,018.047 TOTAL ASSETS LESS CURRENT LtABIUTIES 1.277,794 1.220,6S4 1,258.866 1,021,409 PROVISIONS FOR UA81LITIES 17 {103.5621 1103.562) {47,403 147.4031 N￿AsSET8 1.174.232 1117.092 1 211,463 974,(X16 FUNDS Unreslricled fvnds Restr￿ed fvnds 1.16S.487 8.745 1,108.347 8.745 1.211.463 974,006 TOTAL FUNDS These finanaal statements have been Wep￿ed in accordan￿ with Ihe provisi0r￿ appticable lo ch￿itable ¢xmpanie8 subject to the small companies regime. The financial statements were apwoved by Board of Tws*es arKt aLrthorised for IssL￿ on .. arKI Y￿e s19r￿￿ on ts LEhalf by. R M Dobson- Trustè8 The notes fomi part ol these fjnancial slatements P48 12 Warren Houso Grc•U At Dartl Consolldated Cash Flow Statement For The Year Ended 31 March 2023 31.3.23 31.3.22 Noles Cash flows frorn operating activitie5 Cash generated from opernti￿$ 170,1121 325,434) N¢1 cash (used inyprovided ty OP￿ating adivibes 170 1121 325 4341 Cash flow5 fr*¥n investing activities Purchase of tangiblè fixÈd assets Sal8 oftangblè ftted ass8ts {13,1481 2,030 (36,9461 4,378 Interest received 6.708 1,461 Nel ￿$h provided byl(used inl investing adivths Change in tash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of thg reporting perlod {174,5221 1356.541} 929,664 1286 205 Cash and cash oquivalonts at th• ond of the reporting period 7SS,142 929,664 The fDmi part of these finanaal stste￿nES Page 13 arrèn House Grou At Dartin Notss to the Financial Ststsrnents For The Year Ended 31 March 2023 ACCOUNnNG POLICIES Bayis of weparing the flnanclal statemorrts The finarrial statements of the thaTitable o)mpany. wh** is a pU￿1C benefrt entity under FRS 102. have been epared in xcordance with tre ChariEies SORP (FRS 1021 'Ac0)unt￿g and Reporting by ChaTilies.' Statement of Recommended Practi￿ ap￿￿atiIe to charities prepar1r￿ their a￿Ounts in accordance wilh th8 Financial Reporting StaTrJard applicaTrJe in the UK and Republ￿ of Irdand {FRS 1021 leffeth.ve 1 January 20191,, Finanaal Reporting Standard 102 The Finaryial Reporting Stsndard applicab￿ rn the UK and RepublK of IrEland' and the Companies Act 2￿6. The finanGial stateThents have been prepaied undet the histt)ri(xl cost convention. with the exception of investsllenls which are induikd at market vJue. The charity ￿nSti￿lte$ a pubh¢ ber*fft entity a$ defin¢d by FRS 1W2. The trustees o)nsSder that there are no rnalerial uncertainties aboul the chanws at¥lty to conb.nue as a wng concern. There are no material uncertainlEs affect the Cur￿n1 yèars aCC￿lnts. Ineom• All income is recognised in the stat￿nt of Finanryal Activitp5 once the charity has ent￿eThent to thè funds. it i8 probable that the i￿ome will be received aThJ Ihe amount can be measured f￿ably. Service contracts are recognised based on the sta9e of cofflptetion. wh¢ch is measured by the arvc4Jnl of staff hours put against that contract Inccrne fr¢yn the provision of se￿[Ce5 is stated after trade disry)unts, other sal8S tsxes aThJ net of VAT. Grants. donatic￿$ and InveSt￿Ent income are recwnised when receivable. ￿ere such amounts have IErms Of conditions wh￿h must be rnel for specific activithes. the rdevant wK¢)me is not recognised in the year but deferred and shown on Ihe balan￿ sheet wthin current l￿bilit￿S. Legaaes are accounted for as inccffne either Lwon receipt or where the receipt of legaty is probable, ¢an be reliably measured and all corbknrts attached to Ihe lew have been fvlfilled. Expenditure Liabilities are recognised as expenditure as soon as there is a I￿81 or tt)rKItrE￿lve obSgalion ¢ommilting th charity to that expenditure, it is probable that a transfer of econom￿ benefits will be required in s8tUemenl and the amc>unt of the obl￿atIon can be measured reliabty. ExpenditUTe is accounted for on 8n accruals basis and has ￿¢￿ dassified under headings that aggregate all cost related to the category. Vvhere cosis eannot be diredly atbibuted to parbojlar headings they have been allocaled to acth'vitEs on a basis consistent with the use of resources. Charltsbl¢ a¢tlvitiès ChaiitaNe ¢xkEnditure comprises of research, developffEnt and dissemination activrty. Allocation and apportlonm8nt of costs Ctrsts comprise direct &xpe￿ArtUre indLKlirLq direct staff o)sts attributable to the activity. Slaff costs are alloc*gd in acc¢rdan¢e lo time S￿nt on proieds. Administrati￿ and management costs are allocated in the same way. Other oyJsts alloKated in propothn to income werated by the actNity. Support Costs are thtssè functiorts that aS￿st the work of the charity bui do not directly undertake tharitable actwitiès. GovÈrnaneè ￿sts invofving the p￿￿tC a￿olMtabll¥tY of tr* charity and its Complian￿ viith regulation and good pradire. Tho50 costs ir￿￿de costs related to statutory examinati(￿$ and legal fees together With an appotbontnent of oveiheaj and support costs. These cosls are indLtrJed wilhin Charitab￿ activities when relewanl. Tangible r￿ed a¥￿ts Fixed assets are tr￿1d at histo1￿ cost less accLUnLdated dep￿atiOn. Dep￿cIatiOn is provided al the followTng annual rates in order lo write off eath asset over ts eslimaled useful Itfe. Fixtures and frttings -2￿fi on cx>st Cornputer equipment -33¢k on be made on a monthty basis and the aeeounls will rÈccgnise th& unwinding of the relevant dis(x)unt provisiorn. Finan¢ial inStr￿￿entS The trust only has fin8rrial assèts and finan￿8] liabilrties of 8 kind that qualify as basr fin￿r￿la1 instrumènts. B8sic financial [r￿trUments are initialty recognised al tran5*ion value and 5ubsequentty measured al their settlement value. Creditors arHI Provistons Creditors alld provisions are recognised vthere ihe charity has a present obligation resulting from a past event Ihat will probabty result in the transfer of funds lo a third paty and the amount due to settle the obligation can be measured or estimated reliabty. Creditors and provisions are normally recognised at their setuemerrt amunl. Page15 arren House Grou At Dartin Notes to ts Fina￿[al Stst8ments- ryjrrtinued For The Year Ended 31 March 2D23 I DONATIONS AND LEGACIES 31.3.23 31.322 Dt)n8tions 16.627 INVESThIENT INCOME 31.3.23 31.3.22 Deposit account interest 6.708 1,461 INCOME FROM CHARITABLE AcfMnES 31.3.23 31.3.22 Grants Research and Developrr￿nI 1,675,481 1,386,771 Induded in grants received are the following #rnunts ￿1ved from Govemment and other Public Aulhoribes 31.03.23 31.03.22 232,812 202,798 43,432 S Lanarkshirè 232 812 246,230 OTHER INCOME 31.323 31.3.22 Inccffie on disposal of fixed assets 32$ 2,473 RAISING FUNDS Othèr trading aetlvltl•s 31.3.23 31.3.22 Loss on sale of assèts 2,974 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totsls Research and Development 1,290,633 430,264 1,720,897 SUPPORT COSTS Governan sts Management Totals Research and Devek)pme 408.742 21,522 430,264 Page 16 WarTOn House Grou AtDa 14ote$ to thè Financial Statèmenls- eontinutd ForTh• Yèar End￿ 31 IAareh 20 SUPPORT COSTS - continued Support costs. ituded in the above. are as foll￿S.. 31.3.23 Research and Develo 31.3.22 Total activTbes Wages Pension pnwsion Cèntral ovéthèads R¢Gtuitrnenl atwj training Telephone Postage and stailonery Sundries Professional fees Equiprnent Computer & IT Travel Events Deprecialion of t2ngble assets Auditots. remuneration Audttors. remuneraion for non audit work 118.728 $6,159 30,618 12,830 2,088 317 1,885 25,025 15,654 8,438 83,404 38,597 14,016 6,500 1S,022 127.744 5,274 35,814 26.900 2,802 782 1,851 25,967 15.925 5,839 20,585 18,556 8,393 6,270 430,264 315,527 NET INCOMEIIEXPENDITUREI Nel incomel(aYpeThliturel is stated after chargiW(cr*Jibng): 31.3.23 31.3.22 Auditors. remuneration Accounting Depfftciation- owned ass6ts IDèfi(at)Isurplus ￿ disposal of fix￿ assets 6,500 15,022 14.016 2.649 6.270 12.825 8.393 2,473 10. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for fhe year ended 31 March 2023 nor for IIE year ended 31 March 2022. Tru$t$os' ¢xpgn$•s No tsustees were reimbursed for expen￿ for1he year 31 March 2023 nor for year ended 31 Mard) 2022. 11. STAFF COSTS The followng staff costs were paid during the year 31.03.23 31.03.22 Wages and salari¢$ Social securtty Pension costs 956.348 102,372 67,988 713.￿3 52.503 1.126,708 832,335 P3g8 17 Warren House Grou At Darti on otes to the Financial Statements- continued For Th9 Year Endgd 31 Marth 2023 11. STAFF COSTS- ¢ontlnu The av8rage nTh)nthty number of employe8s during th& yearwas as foll￿¥S. 31.3.23 24 31.3.22 20 Tho number ofemJoyees vhkjse em￿oyee Iwefits (ex¢kJding empwr pension costs) exceeded £60.OJ) was: 31.3.23 31.322 £60,001- £70,OC £70,001- £80,￿ £80,001 - £9CS,I £￿,001- £1￿.000 12. TANGIBLE FIXED ASSETS The Group Frxiures and fittings Cornput8r equipment Totals COST At 1 April 2022 Additions Disposals 5.263 42.442 13.148 7.215 47.705 13.148 At 31 M8rch 2023 DEPRECIATION At 1 April 2022 Charge for yeai Elimirsated on disposal 4,590 673 11,318 13.343 2,538 1 S,908 14.016 At 31 Mard) 2023 22.125 27.388 NET BOOK VALUE At 31 March 2￿23 At 31 March 2022 673 13. FIXED ASSET INVESTh1ENTS The Charity Shares in group undÈrtakings MARKET VALUE Cost NET BOOK VALUE At 31 March 2023 At 31 March 2￿22 There w¢r¢ no investrnetrt a55et5 ¢JJt&de trle UK. Pap 18 afren House Grou At Oarti Nots¥ to thg Financial Ststwnents. wrtirnjed ForThè Yèar Ended 31 March 2023 14. DEBTORS.. AAqOUNTS FALLING DUE WITHIN ONE YEAR The Gr￿p The Charity 31.03.23 31.03.22 31.03.23 31.03.22 Trade debtors Intercompany Loan Prepaymenls and ac¢nJed incon 325,905 537.1*7 66,197 615,155 156,975 1e3.275 376,693 413,096 109.524 739,001 646,611 83B,327 539.*8 15. CREDITORS: AMoup¥fs FALUNG DUE WITHIN ONE YEAR The Group The ChaFity 31.0323 31.03.23 31.0322 31.03.22 Trade creditors VAT Taxation and social security Accruals and deferred itKome Other creditors Awu¢d expenses 44456 $6,750 34.S19 128.Ir27 69,272 15.524 66,662 108,580 24,401 1,543 3.831 77,550 980 155.268 28.344 59.295 104,1 242.599 349.206 226.741 238,694 16. LEASING AGREEMENTS The Group inimum Jease payments under non-cancdlable operating leases fall due as follows: 31.3.23 31.3.22 Imthin one y8ar BeMeen one and five years 18.533 15.444 17,24C) 17,240 17. PROVISIONS FOR LIABILITIES The Group 31.3.23 31.3.22 Provisions 103,562 47,403 The errtployment pension ￿herne will irKwr major changes in coming years due ID the scheme entering a dèficit. There is a re[￿Very peThod ending in 31 Marth 2038 and a provision of £103.5S2 has been included. This has been derived from an average of current employment penwgn at the new rates and a discounl rale 014.75% has been applied based upon inf(wmation obtsirrd fr(Kn the ￿￿￿5￿)n stheme prDvider USS. Page 19 Wanpn House Grou At Dartin Notes to the Flnanclal stat￿ents. Contirn￿d For The Year ErMSed 31 March 2023 MOVEMElff IN FUNDS The Group Nel Trdnsf¢r between fun&% At 31.3. At 1.4.22 in fth)ds Unrestricted funds General fvrKI Fixeil asset designated fund 1,208.101 3.362 {43,116) 1860) 15,6601 1.159.325 6.162 1,211A63 {45.9761 1,165.487 Restrictsd funds Thir* Forward 8.745 8.745 TOTAL FUNDS 1211A63 7.231) 1174232 Nel m0￿Me[rt in fLmds, induded in the above ￿e as f￿1(A¥s. Incoming resour￿6 Resources experKled Movement in funds un￿trICted ffijnds General lund Fixed 8sset designated fund 1,621,518 325 11.664,634) 3,185) 143.116} 2.8601 1,621.843 11,667,819) 145,978) Restricted funds Think Forward Stand Together Foun¢Jation 24.745 40,OS2 {16.000) 40,052 8.745 797 56.0521 TOTAL FUNDS 1,686.640 ￿￿711 ￿37 231) Comparatlves for m0￿mOnt in funds Net movemenl in funds Transfers between fund5 Al 31.3.22 At 1.4.21 Unrestrictsd fund$ General fund Fixed asset dèsignat￿ lund 1.015.937 5,152 192,388 2,0141 {2241 224 1.208,101 3,362 1.021.089 19J.374 1.211.463 Restricted funds Big Loltery Fund 151.933 (151.933) TOTAL FUNDS 1.173.022 1,211.463 Page 20 WanEn House Grou At Darti Nirtos to the Financial Statements- COntin￿d For The Year En(kd 31 March 2023 18. MOVEMENT IN FUNDS - ContinL￿d Comparative net movement in lunds. irKJuded Ihe above are as ftAI¢y4VS: Incoming Rasources Movement in fLThIs Unrestricted funds Géneral fund Fixed asset dosi9nated fund 1.184. 2.372 1992,5721 4,386 192.388 2.014} 1.187.332 {￿.958> 19).374 R•strl¢trd funds Big Lottery Fund 220. 1371,9331 1151,933} TOTAL FUNDS 1.407,332 1368,891 38.441 A current year 12 tTh)nths and prioryear 12 months CThn1yr￿ p05il•)n is as *dl¢yws'. Nel Move￿￿1 tn funds Trdnsfers belween funds At 31.3.23 At 1_4_21 Unr•strictsd funds General fund Fixed asset designated fvnd 1.015.937 5.152 149,272 14.8741 (5.8841 5,884 1,159.325 6.162 1,021.089 144.398 1.1￿,487 Restrictsd fund Big Lottery Fund Think Forwaril 151.933 (151,9331 8,745 151.933 143 188 8,745 TOTAL FUNDS 1 173 022 1 174.232 A current year 12 months aThJ prioT year 12 months o)mbined net rnovernerrt in fvnds. included in the above a a$ follows.. The Group Incxyning resources ReSoU￿S expended Movement in funds unr0str1¢t￿ fund$ General fund Fixed asset designated fund 2.806,479 2,6 (2,657,20n 7.5701 149,272 4,874 2,809.175 P.664.7771 144.398 Restricted fun(ts Big Loltery Fund Think Forward Stand Togelher Foundation 220,0(KI 24,745 (371,g331 116,0001 40,05 {151,9331 8,745 427,985 143,188 TOTAL FUNDS 3.093,972 3,092,762 1,210 Unrestrl¢ted funds Th8 unrestricted funds consists of funds whtth thè i￿arIty may usè for ils d￿ritabl8 purposes 8t its discretion. pa￿21 Warwen House Grou At Dartin Notes to the Financlal Statements- continued For The Year Endgd 31 MarGh 2023 18. MOVEMENT IN FUNDS - contlnuad Ogsignatgd funds The fixed assel fund represerts the value of the tharity's funds that a￿ hejd in the fom of tangible ffixed assets net of any bO￿owing$ directty for the pjrpose ot purch￿r￿j these fixed assets. They are held specffically to further the day lo day activities of the charty and are expected to be hdd on a long tem basis. As such they are therefore not freely available io spend. Restrlcted funds The Big Lottory Fund is TestrKt￿ funds Tr*se fuNls are to be usod to addrgss poor emoti(wwl health and oerrive relationships in Rerrfrewshire. by mapping the ojrrent system and identifying strategies to redirect res(NJrces loj early ath"on. ThinkFoward UK fund is restricted fuNls. These ￿d$ are to be used to help young people and advance the fives of young peoplo by providing support and aclivth.es develcp their ski115, capaLyb"es and opabilities to enable Ihetn to parb"opate in soaety as irKlepen(fenL malure and res￿n￿b* irulivKduats. Stand Togèther FouThJation fund is restricteA I[￿d$. These funds are to improve the INes of young people with eduo¥lional, ￿le￿I[fir ￿ literacy sL￿pOrL Page 22 Warnen H(xtse Grou At Dartin on Notss to th• Financial Stat8m8nts - continu•d ForThe Year Ended 31 March 2023 19. EAIPLOYEE BENEFIT OBLIGATIONS The latest a¥ailablÈ ts)rnplete acauarial Y￿uat￿ of the Reb"r8ment In(x)m8 Builder is a$ at 31 Mar¢h 2020 (the valuation dale). and was carri*J out usNig the unrt mothLyJ. sit￿ thè inslrtution ¢2nnot identsfy its share of USS Rettyement Income Builder Idefmed benèfftl assets and liabilhties, th8 frAlowing di%dosures relknt those rekvant for those assets at)d labilities as a whole.. Th¢ 202D valuation was the S￿ valuation for the sc*eme under the schem&specific funding regime introduced by the Pensions Act 2[￿4. which requires sckemes to have sufficient and appropriate assets to cover their technical provi&ons. At the valuation date, the value of the assets of Ihe scheme was £e6.5 billion and the value of the scheme's technical provisions was £80.6 billion indKath'ng a shorifall of £14.1 b41ion and a funding ratio of 83°h. The key finanoal assumptior6 used in the 2020 valuation are de￿bed bebw. More detail is sèt out in th Statement of Funding Prinaples (U58.0).UkJ8b￿rt-u￿a1UaDQn-and-fiJndI￿SI8tem8￿I-of-fU￿di￿g-prInGIp1Q￿). Term dependent rates in li￿ with the differgncg ￿tw98n ts Fixèd Interest and Indtx Link￿ yield curves k$s: 1.1% to 2030. rèduclng Ilnoarly by 0.1% p.a. to a long-term dlfference ot 0.1% PA. froffl 2040 CPI assumption PensK)n increases {subje¢A to a fflo¢y of 0%) CPI assumption plus 0.05% Di5￿unt tsle (foThyth r8tes> Fixed Interpst galt yield ¢ur¥e plu$: Prg.retirwn¢nt 2.75% pa Post retiremenL. 1.00% p.& The main demograkthic assumption used rel*es to the mortalty assumptions. These assumptlons ore based on ana5ysis of the scheme's experien(E ￿rrIed oul as part of the 2020 aduarial valualii)n. The mortalty assumptions used in these figures are as follows.. 2020 ¥aluation Mortality base table 101% ofS2PMA lighf forfflales and 95% of S3PFA for females Futufe improvements to mortalty CMI 2019 with a smoothing parameter of 7.5, an initial addition of O.SYo p.a. and a long-temi improvement rate of 1.8°A pa for males arml 1.6% pa for females The current life expectarries on retiren)ent at a9e 65 are: 2023 valuation 2022 valuation 24.0 23.9 25.6 25.5 26.0 25.9 27.4 27.3 Males oJrMdy aged 65 (years) Female5 currently aged 65 (years) Males currenuy aged 45 (years) Femal8s currnnuy aged 45 (years) A new d¢fiot re¢overy plan was put in pl￿ as part of the 2020 valuatw)n. requi￿$ payment of 8.2% of 5alo1ies over the per￿d 1 April 2022 un￿1 31 March 2024, at which point the rate Mll increase to 6.30/0. The 2023 deficit recovery lia￿lty reflects this plan. The Ikibility figures have Jjeen produced using the following assumptions: as at 31 March 2022 and 2023. 2023 4.7S% 3.OD°/• 2022 2.65 / 2.S3°A Discount rate Pension inGreases ICPII The chaity's employer tx)ntributitins to thè sch8m8 duritYJ the yÈarw8s £12.71812022.' £32.213}. Page 23 At Darti Notes to the Financial Stalements. continu For The Year Ended 31 March 2023 19. EMPLOYEE BENEF￿ OBLIGATIONS- continued The charity has accounted for the present value of all [ernain￿9 conln7)utH)ns to the defical recover ￿an in these accounts at th£yr present value of £103,562 based uFx)n the inf0m￿ticI) awailable fr(xn the scheme administrator. This liability will be adjusted annually to unwnd the relevant discount ar$4ied 20. RECONCILIATION OF NEf INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31a23 31.3.22 Net inc¢Jrne forthe rgporting period las per the Statement of Financial AetivitÉÈsl Adlustmènts for: Depreciation Ghatges Profft on disposal offixed assets Interest received IDecrease)l increase in provisions Ilncreaseydecrease in debtors IDecrease}fincrease in creditors {37,2311 38.441 14,016 1649 (6,7081 56,159 192,3301 106.667 8,395 {1.4611 5.274 (74,5151 299.095 N¢t ¢ash {usgd 1nllprov1d￿ by ¢peratl¢ns 1701121 325 434 21. ANALYSIS OF CHANGES IN NET FUNDS At 1.4.22 Cash flow At 31.3.23 Net eash Cash at bank 929,664 174.S22 755,142 Total 929.664 174.522 755.142 Page 24 Warren House Grou At Darti Motes to the Flnancial StaterTr9nts- continued For The Year Enthd 31 IAarch 2023 INOIVIDUAL STATEP41ENT OF FINANCIALACTMTIES The Charity 31.3.23 Total funds 31.3.22 Tot81 fijnds unrestrict￿ Restricted fiJThJs fiJnds Notes INCOME AND ENO0￿ENTs FROM Donations and legacies 239.533 239,533 199,762 Charltable actlvltles Research and Development 232￿12 297.609 518,1 Investment income Other ino)me 25.156 148.592 25,158 5,414 20S,822 Total 646.093 64,797 710.890 928,188 EXPENDITURE ON Charltable activlties Research and Oevetopment 511.754 58.052 944,025 NET INCOMEIIEXPENDITUREI 134.339 8.745 143.1)84 115.8371 RECONCIUAllON OF FUNDS Total fijnds brought forward 974.LWX 974.r 989,843 TOTAL FUND5 CARRIED FORWARD 1.108,345 1 117090 974,OC 25 Warren House Grou Al Dartln Notss to th• Financial Statements. continued ForThe Year Ended 31 March 2023 GROUP STATEMENT OF FINANCIAL posmoN The Group 31.3.23 Total funds 31.3.22 Total fvjnds Unr¢strKtsI funds Restrthd funds Notes FIXED ASs￿s Tangible assets 12 26.250 28,250 26250 26.250 31,797 CURRENT ASSETS Debtors Cash al bank 14 730.256 75S.142 8,745 739,1101 755,142 646,811 929.664 1.485.398 8.745 1.494.143 1.576.275 CREDITORS Amounts falling due wtthin one year 15 (241599) (242.5991 {349,206} NET CURRENT ￿￿ETs 1.242.799 1,251.544 TOTAL ASSETS LESS CURRENT UABILMES 1.269.049 8.745 1.2TI,794 1.258.866 PROVISIONS FOR LIABILITIES 17 (103.562) 1103.%2) {47,403} NET ASSETS 1,165,487 32 1,211,463 FUNDS UnrestTiCted fund ReStr￿ted funds 18 1.185,487 8,745 1,211,463 TOTAL FUNDS PaF 26 At Darli ton Notes to the Financial Statements- continL*d For The Year Ended 31 Marth 2023 SUBSIDIARY TRADING ACTivmES The chartty owns 100% of the company. Da￿1￿ s￿￿* D8sign LAb Lwnited 12613600 whosa registèred Offi￿ is Lower Ground Aoor. Higher Mills, BLthast ALthy, Buckfasfleigh, Devon. TQ11 OEE whith op¢rales a number of cornmeraal ventures C￿ behalf of the charity. The su￿diary donates its taxable profits b the charKty each year by gift aid. Dartington Service Design Lab Limited is I￿}L￿ed in these a)nsolMlated £ttounts. Its traditYJ results for the year extraded frun the financaa staiements are sun17￿7s•d b81ow.' 31.03.23 31.03.22 Tumover Administralon 1,627,231 1570 09) 1,522.827 1.285 370 Operating profit 57.141 237.457 Net profit before t&xati)n Donatlon to P8rentcharity 237,457 183,179 Deferred tax 3,817 Retained losslprofft 53.324 237,457 2S. ASSETS AND UA81LITIES OF THE SU&SIDIARY 31.03.23 31.03.22 Fixed assets Tangible assets 20,088 28,435 Current assets Oébtors Cash at bank 779.209 152.237 620,754 212.891 931.446 833,645 creditors falling due within one year Trade creilitors A￿OUntS owed lo group urldertakings Taxation and social securrty Other creditors 109.383 615,490 87,102 82,417 77,654 376,893 44,871 125.404 894,392 624,622 Provisions for Liabilities 3.8f7 Net assets 53,325 237,458 Representod by.. Called up share capital Retained eamings Capitaj and Reserves 53.324 237,457 237,458 Pa￿ 27