Company registration number.. 04610839 Charity ragistration numr.. 1099202 Warren House Group At Dartington Roport of the Trustees and Con8011datsd Flnandal Statomants for the Ygar Ended 31 March 2024 WESTCOTTS CHARfi*io ACCOUMTAIITS A •usIMI•• Apvls
Warren House Group At Dartington Contents Reference and Adminlstratlve Detail$ Trustees, Reptsrt 2to8 Independent Auditors, Report 91011 Consolidatsd Statement of Finanoal Actiwb08 12 Conwlidat¥d Balarlce Sho8t 13 Bal8nce Sh 14 Con801idated Stslement of Cash FI¢M8 15 Note8 10 the Flnondal Stslements 161031
Warren House Group At Dartlngton Roforence and Admlnlstratlve Detalls Company ReqlJtratlon Numbor 04610839 Charity R•gistration Number 1099202 Roglstsrnd Offlce Lower Ground Floor Hlgher Mi11s Bu¢kfa$t Abbey BuckfaBlleigh Devon TQ11 OEE Tru8tg08 R M Dobson, Chalr of Trugts88 D C Archibald, Senior Independent Dlrector D O•rby8hlr• S M Gat&8 J R Glover, Honorary Trèa8urar PJGrfgg L Hendry M Neophyttsj C Patrfck, IR•$ign•d on 11 March 20241 L M Patrontasch H C Slo&aart Audltorn Wo8lcA)tt8 ISWI LLP Plym Hou#e 3 Longbridgo Road Marsh Mill8 Plymouth Devon PL6 6LT 8ollcltorn Browne Jacobson l Manor Court Dix's Field Exeter Devon EX1 1UP Page 1
Warron House Group At Dartington Trustees. Report The Iru$lee$ who are also dlre¢lors of the tharty for the pUrpeS of the Companles Act 20. presènt their r8POrt with the financial statements of the charity for the year ènded 31 March 2024. The trustees have adopted the provisions of Accounllng and Repoty'ng by Charities.. Statement of Recommended Practice appllcablg lo ¢haritie$ preparing their accL)unt8 in accordance with th8 Finanaal R8porting Slandard applicable in the UK and Republic of Irdand {FRS 1021 (effective 1 January 20191. Me8#go fr¢)m Ruth D¢b$on. Chalr of Trusto0s I'm proud of the work and impael the charity has a¢hieved thi$ year. The team has worked Ilrele551y lo support p8rtnefS Bnd communitias serving some of the most vulnerable children. young people and famili&s. The has ranged from work addresslng the root caus86 of youThJ people's mental health and wellbaing in rural and urban communities, through to co-designing innovats.ve sotyal housing solutions incorporating family support, mentsl health and employment opportunities. Yet the year has b88n undenlably challenging. The GoBt-of-Ilving cris1$ foll¢)wlng tho pandemic has impacltrd ¢hiK#ren and famllios hard, widening pra-existing inequalities and escalating ralos ol child poverty. This is boing fell by Children and families Sn many way8. including e18val8d rates of poor m8ntal health, widening early years and educalitsnal gaps and amploymenl and wder opportunititss for young p•ople ¢nlering adullhcod. Tho public and charitable 8eclor has also been under enomious strain. struggling Wlth reduced and highly constrained financial resourceg and rising needsldemands. Unfortunat8ly, we've ob8eNed well-e81abllsthed r888arch, 88NIc8.dallvery and children's Infraslru¢tur• organi$alions being lorced to close this year. We have not bgen immung from the88 pro88ures, but through ye4rn of careful manag8m8nt and high-impact wwk, we are fortunate lo have robust resgrvos and a strong, resilient team to wèather thèse challen9es. This year, financial prassures across the sector resulted in us sustaining an income $hortfall in the early- to mid-part ol the year. However, we u8efJ our capacity and resource8 during IhS8 me lo consolidate our work and offgrings to advance Byslemic chan9e wblh publlc Sector and community partners. This work, and a Strong 14tter part of year places us in a strong and reyilienl position moving ft)ard. I'm deeply grateful lo the wh¢18 team for unwavering commitm8nt and innovative work. Led by our dynamic and dedicated CEO and Senior Management Team - th& whole l¢am has demonstrated creativity, adaptability and a sustalned eommltmenl to S•TvSng chlldren, young people, families and partner8. I'm also gratgful lo the cotrtribulions of our exceptional Board of Trustees and Company Oirèciors, who have demonslraled integrity, judiciou8 9ovèrnancè and commitment to our mission. We look forward •mbraang the opportunits'es for impact that a change In govemmenl wll no doubt bring and are in a strong position lo build on our learning about how lo address the fundamental challenges and 8ysleml¢ barrier8 that Qhildrnn, young pecple and families face, at a lim• nev•r mo needed. M•v4499 from Dr TIM Hobh. CEO of the Gharlty A8 described by our Chair, the current context is incredibly challenging for mony Children, famili¥$, ommunrties and public sector professionals that serve them. Sustained impacts from the recent pandemic. the current Cosl-of-living $18. hsing r8tos of thild poverty, and sy8temlc raa8m and mar9inalisatlon of many groups are all evident. 11 follow8 that thè chaSlenges faced by families, communthes and public services are complex and mulli-fac8ted, and require a systemic response. Pag& 2
Warron House Group At Dartington Trusteos. Roport Thls 18 where our Integrated Approach stralggy from 2022 ha$ been MIng into its own. Throughout thè year and across our work, we have been able to draw upon and integrats a rangè of different viewng points, methods and 3pproa¢he$ to work with partners lo help our partners address the compley ch811èngeg that ¢hildran and familie$ fo. This indudes our foundational underpinnlng of robust social research and evidenrE, coupled with an increasing emphasis on hUMan.ntred design and sy8lems thinking approaches. You can read more about what Ihls has looke(I like in practic8, and th8 impact il has athieved in Ihls report. Suffice lo say that given the challenges and hardship faced by famill•$, ¢ommunrtie$ and public services - we have increasingly shifted emphas15 01 our work lo better understand and addre88 the r¢ot drfv&r8 of Chlldren and young p8ople's chall8ng8s. l am p4rticul4rty grateful lo the contrlbutk*n8 of our de(licated t¥8m, in parbcular, Scolland-based Directors Kata Tobin and Catherine-Rose Stocks4Rankin, who both moved on to new ¢hallonge$ during the year. A3 the 91aff team has changed shape, we also welcomed new colleagues. focuslng on fvrtt)er glrengthening core ¢apabiliUas in areas such 88 ovalualk)n of complex 8y5tsm change actlvlUg$ and data 8aenc8. Whllst the year wag challenging in temis of tho economic climate and income genoralion. we have effectSvely reojn81iluled and focuBed our work and 8tsrt 2024125 In a strong position to athieve an even gr&atar impact. wrth a change in government presenting different opportunities. we look fonOrd to our rol8 in advanclng 8y8t¢mic ch&nge lor children. famili88. communltles and publlc $ervlces. Oblocve8 and •GtlvltJo Objects andalms The Warron Hou80 Group al Dartlngton IWHGI Is the registered name of the charity. 11 operates a trading subsidiary 'The Oartinglon Servicè De81gn Lab, a company INo.126138001 Ilmit8d by 8 single share which the Charlly wholly owns, 08rtlngton Sorllcè Oèslgn Llb: W8 are a research and d8sSgn am of the charlty dedicated to improving rtCOmeS for chlldren and young people. We innovate lo ensure that research and evidence play8 a valued 8nd impactful rol• In the deyign 8nd implemenlalluin of servlces for Children and families. W8 work in dose p¥rtnershlp ¥t those ¢ommi$$ioning, designing or delivering $erviceg for chlldren, Our work is grounded in data and 8vld•nee. as well as a deep understanding of public 8yslem$ and the diverse needs and community contexts tt)ey 8eNe. Wo brlng together exp8rt188 in Sodal research, service design, systems thinking and data saen. Our activllles Sndude chlldren's 88Mce8 8tr8tegy development, 88rvic¥ deslgn, rapld<y¢le design and te81ing, 8y81em reform, evidence reviews and data analyts'cs and visualisation all of which ycu Can reod abwl herg.. www.dartington.ug.uk. Page 3
Warren House Group At Dartlngton Trusteos, Report Significant actlvStles During 2023124, our work has inueasingly orienlatad towards bètter understanding and addressing the root causes of the challenges faced by Children. young peop and familie3- working wlh partners to advanc8 systemi¢ change. Over the last year, thè Lab worked th ovor 26 different clients on range of activities to help them generat¥ or usè evidanca to infom their work and have a great•r impa¢l. Examplès of Significant activities during the year include.. 111 OrYJolng Smplementsti¢)n of Kallo.. a £5.3m research grant from UKPRP to ts>dosign local Strategies addressing the social detem)in3nls of young people's mental health and wellbeing. DurirvJ this year we have consolidated a framèwod( lo support lo1 community and public systom partnorship$ to b8tt8r und8rstand and address the underfying drlvers of young pèopla's mental health and well.ng. We hava work•d Inl¥nsively a¢ro$$ different contexts Northern Devon and Newham enga9ing dirèctly th young people and community partners to design a r8nge of innovive community response8 that we belng 8mbedded and tested in local contaxt. This approa0 will Ix core to much of ongolng systomic chango work in future years. lill A major programme of res8¥r¢h and d•gign with Young Livo8 vs Cancar lo develop an org8nisalional and $8ctor-wide Strategy to plug gaps In p8ychologlcal, emotional and $0¢181 Support for young people experiencing cancer. Thi8 large-8cale programme of work Includ•d In.deplh Co-design of research with young peoplo and famili9$ experiencing cancer, and implementation ol tho larg8St-scal8 gurvey in the UK ol young people's experiences ol ¢ancer. engaging over 1,500 childrtrn, young people and famllies. Thi8 work h88 Informed the design of cro$8-8ector 8lrglagy and collalx*ration to respond lo the flnding$. {iill Embeddlng our work 88 Leaming PBrtner for the £100m Thriving Mind8 progr8mme, In which UK Youth are supporting over 100 youth secttsr grantees lo bulld ¢apa¢lty an¢J capabilities for providing ment41 health supp)rt a8 part of their eora youth work activities. Our work is supporting the y¢ulh Sector to develop and embed mèntal health 8UPPOrt8 for young people in community and youth $ettings, which 1$ vital glven r181ng need8 and pr•g8ures cn m•ntal hoallh s10m5. {ivl Working wlh Grosvenor to lead 8ervlce deglgn and ctrprodu¢b'on of a hlghty innovatlve aedal houslng model lor young pgople leang care and vulnerabl8 families. The deslgn of this model Includgs hi9h quality housing combined with mental health and wellbeing support, practical life skills and employment and enlopreneudal Opportunit¥. W• l•d th• 'end.to.end' design of th18 model, whlch is now b8lng Implemented inidally in Cheyter. Warrnn House Group actlvltle8: In addition to supporting the actiwlits ol th8 Lab, the cl)8rfty 8180 publlshod eleven blog¥ Sharing learning and insights from our Tk. I081n9 on Ih¢m¢$ Such a$ youth voice in research and design, young people's mertsl hèalth, leaming from 8yStemic thange initiatives. systems thinklng and young people'$ expgrienoes of cancer. We have also further developed our own org8nisational approache¥ to build a culture of anti-raclst research and design, buikling the position paper published in 2021. This year we producèd a blog sharing our leaming and hosted a learning event for those working in th& $&ctor to share learning and slimulale further progresg, Thè tharlty 8180 established a new and progressive ethics review fvndtsn lo support acti1185 of the Dartington Service Design Lab, and our l18boratIVe Partners. This involves considering all research and design a¢tivStie8 through a lens of prot8Ction and parliThpalion for young people, and 88fety, security and welfare for all those engaged. Page 4
Warren House Group At Dartlngton Trusto0$' Report Flnanclal rnvlew M8ssag8 from Treasurer- Joel Glov•r.' The 2024 trading period was one whlth ¢ontalned significant challenge5 for the Group and ujr financial delivery. Macroeconomic and $tw¢lural factors 1¢h have posed drfftcullie8 acro8$ the sector remained. To support our charitable goals and proceed confid•nUy along a trajectory of 3u8tsined financi81 stability strategic choices were made to Invest in capability and capacty. Thls Snduded developlng our bility to engage al greater depth with slrategio funders of our work. Financial performance and incom• genoralion were carefully monltorad through th• year by Execuuve and Non-Execulivè team. The impact of our Invegtments re mixed. Financial Year 24 saw an 8% Incf8a$e in income generated, bul this did not mal¢h tho 16% increas• in cost baw. leading lo a redudion in t)vr carrlod forward resetves. Control of cost and c88h converslon remgln vltal finandal dlucbpllnes for th• Group, but ullimatety the fiscal SU5$ of the business will bts built on high quality dalivery for tsur 8takeholder8 leading lo Improvements in the lives of children 8nd young pgople. The Board'$ goal has aayS baan to ensure adgquata flnancial reserve8 lo ensure that we deliver the aims of the charrty through uncertainty, complexity and ambiguty. and this goal r8maln8. The Board e8labllBh budg•t8 and a 8tratggic approach lo fin4nc•$ with th8 goal of a steady Increase In reserves that reflects the growing cost base of the oryani9otion, and the need to factor in th Inuoa8ed ¢ha518nys to the organisatlon and wider sector. A mal&rial contributor to our bollom-line position 18 thè provi8ion for pensions, The WHG hag for number of years offered 11$ 918ff a pen¥ir)n arr8ngemenl through the Unlvarsity superannua0 Schem• IUSS}. The late81 actuarial evaluation ol the USS has r8vealed a continuing deficit that the oharity musl recognist ils 8hare of. This is reflected in a provision in the 2023124 accounts of £103,562 12022123 £103,562). Mlhough il redu¢e$ the free ras8rv88 of the charlty, In c88h lemis, the e111th8 pald ov•r 15 years aB an annual ca8h conlilbLrtlon to the USS. The Flnance and Op8ralions SUbMMIttee of the Board meet monthly and conllnues to monltor the financial and risk profile of the ¢hanty throughout the year, ensudng a steady flnandal footing and accèptable level of financial dsk, balanctd again81 the thorble alms and oty'ective5 of the ¢horlty. Overall, the chaTIty 1$ 11 placad to deliver ils charltable object1$ whil* also meeting the flnanc4al goals the Trustee8 have s81.. it will cenlinue to con8olldate its posltton in the sector 8nd achlgv• a positive impact for childn and familigs. Page 5
Warren House Group At Dartington Trle08. R8port Polloy on resems In September 2023, the Trustee8 revRwed Its rè8erve8 poIIcy and ¢yJnduded that it needs lo have a minimum of 6 months of tho annual forecast exp8nditur8 in unrestricted reserv& with a targat level of 9 months up to a maximum of 15 rnonths. At 31 March 2024 the lgvel of unr8Strfctod funds, not already deslgnalod, amountsd to £978.018 12023.. £1,159,325). The rèsew 1gvol8 held at the year end, would Currently cover mcfe than the mlnimum r88erve leve18 required of £677,000 basad upon a calculats'on of 8 months of curr•nY forecast operating è¥p#ndilur•. However, the reserves currently held are below the target level of 9 months 1£1,015kl and up to a maxlmum of 15 months. Investmone poll¢y and obJe¢tlves Unreslricled, undesignated funds arè held as cash in the bank and where appropriate money 18 placed on limed depo8lt to attract interest. Due lo the need lo manage large fluctuation6 in cash flow, no money Is currently pl8¢ed in any other Investment v¢hl¢le. This is kept undtsr gUlar re¥iow. The TruBtees have thè power lo Invest the ¢harill8 money not Imm&dlately raqulred, for its oblect In any investment8, secudlle$ or property. Inv8slment powers can be delegated lo a financial eXrt provid8d that the financial expert IB.. An indlvldual who 1$ an authorised person wllhin the meaning of the Finanaal Service8 and Markets Act 2000.. or A Gompany or fim of repute whlch 18 an authortS8d or &xempl p•r8on wlthln the meaning of that Act except per8ons •xempl sololy by virtue of Artide 44 andlor Article 45 ol the Flnancial S8Ces and Markets Act 2000 lexemplionl order 2001. Structur•i gov•mMnc• •nd mn4g•mènt N•eure of govemlng do¢um•nt The charity 18 controlled by 11$ governing document, a deed of trust. and constkutss a limed company, Ilmlted by guarantee, a8 defin8d by the Companlo8 Act 2006. The governin9 d¢xumenl$ of the charitable company are ils Memorandum ond Artides of Asyoclafjon. The Diractors who are Trustees of the eh8ri1y in officè dudng the year are Ilsled separately in the Legal and AdminS8lralive Informallon s8ctlon. In mid 2019 an independent review of tha govemance ol th8 charlty was undertaken and the outcomes flected well on th& organisation. Of the mlnor efficiency and best prad¢e re¢ommendations pr•sent•d to the Board. all have now been adopted. The Tru8te88 meet four times a year wlh additional meetlngs being call8d as necessary vAth three sub committees delegated to 8UPPOrt tha charity at a more operational level thesa indude.. 111 Finance, Operations and Governance IFOGI,, lill Stratsgy and Impact., and Iliil People Subcommlttees. The d4y-tO-d8y m8n8gèment of the Charity 1$ the responsibility of the CEO. Rocrultment and•ppolntment of trustogs During 2023124. one Twslee retired from the 8oard. We are deeply grydleful for Carde Patrick. contribution during her time as a Trustee providing a wealth ol exper0 and und8rstanding of the Scottish care system and helping 8haptr th diraetion of tha Charity. Page 6
Warren House Group At Dartington Trustees. Report Induetlon and tralnlng of trustees AJI Tmstees have received an enhanced OBS ched( as well as 8n eXtenv•, rigorous and on*oing induction and training proce89 covaring such matters a$ awareness of a Trustee's SpOnsIbIlIty, the govornin9 documonl. administrative procedures, the history and philosophical approach of the charity. hjl Trustee8 have received copies of the previous yearf8 Annual Relum report, accounts and a copy ol the Charity Commission leaflet 'The Essenual Tru$lo8'. What you ed to knovl,. Trustee5 are also offered the opportunity to ongag• in training with exlemal organisation8, should they wish to take this up, Pay and remunoratlon pollcy Staff salaries and progression are implements(J uslng a salary bandlng Structw, supported by annual performance appraisal procèss. Fdlomring consultation, an outdated bonus 8¢home was abolished and 8 new non-contractual scheme called the Heakh and Wellbaing Alowance was implemented al the start of 2022123. Thig equbtsbl? approach provid88 a discrebonary quarterfy Stsff paym&nt de8lgned to support adlvltles or 8quSpment that promote staff health and w¥llb¥ing in support of a healthy workllife balance. Feedbad( on the scheme h89 proved positive, and il wll continue subject lo affordability. Major rl$k4 and manag•m•nt of tho¥• rlsks Th8 Trustees have considerèd the ri$k8 to whl¢h tha eh8rlty18 •XPO8ed and have established 8y8tem8 lor miligallng Iho8e rlsks. External risks have been minimised by the adoptlon of a naw 8trateglc plan. r8v18wed on quarterly basi8, which Includes a stratggy for $&¢urin9 funds from a wide range of 8ources. Intèrnal risks are minimi6ed by impleménting procedures for aulhori5ing Ir8ns8th'on8, projects elc, and lo en¥ur8 ¢on9i81enl qualty of delivery lor all operatlonal 8JPeCts of th• chgrity. The Tru8teo8 hava a ri8k-managemenl monilortng reglm& whith comprl$g$'. . A quarterly revlew of th• prindpg18etlvltles, ineluding rfsks 8nd uncortainUe8 that the L8b face.. An on-going review of poliaes, 8y$lem8 and proc•s898 by the Senior Management Team of the Lab to Mgate th08e risks that are Identlfied.. The implementslion of procadures d8signed to minimije or mana9e any potenliol n•gab've impact on the cknarity Should idenlffied as rigk8 maleri4li$e. The princlpal risk ol finanrAal sustainability for the ¢h•rlty 1$ very dosely monitored and reviewed by the Honorary Treasurer monthly, and quarterfy by all Trustees. Attention also conunues to foctjg on non-finandal risks arising from safeguarding, GDPR, health and safety, r8puiation, security, onfidentiality, weffare, morale elc,, which a supportod by robust policies and procedures as well a$ regular staff awareness updates. During 2023124 we have conts'nued to update and fsh pollcle¥ lo ensure they provide effeth've support and rS8k management to th8 organlsalon. The Ch•rily have had du¥ rogard lo principals of recommended pr¥cts'¢e$ As sèt by the 'CharOty Governance Code, and have applied Ihe8e wherever pra¢ti¢abb and in decision making. Pogo 7
Warren House Group At Dartlngton Trustees. Report Statoment of tru8ts08' r•spon•ibiliti The trustees (who arn also thè dir•c<Ys of Warran Houst Group At Dartin9ton for tho purpo8e$ of company lawl are respon&ble for preparing the trustees, report and the financial statements in accordance with appli(ble law and Unlted Kingdom A¢untIng Stsndards Iunrted Kingdom Generally Accepted AccLsunts'ng Pracb'cel. induding FRS 102 'The Financial Raporting Standard applicable the UK and Republic of Ireland" Company law requir8s th• trusté•s to prapar• financi818tat•mènts for èach financial yèar. Undèr company law the trustees mu81 not approve the financial statements unless they are satisfied that they glve a true and fair vlew of the glate of affair8 of the parent tharitsblè Company and the group and of the incoming resources and application of resources, including its incorne and expenditure, of the charitable group for that perfod. In preparbng these financial slalements. the tru3lees are required lo.. seled suitable accounting poliaes and apply them consistently., ob8ervg the methods and principles in the Char(ti66 SORP., mak8 judg8m8nl$ and eslimale8 that are reasonable and prudent; $ts18 whether applicable accounting standard5, wmpri¥ing FRS 102 have been followed, subject to any mat8rfal departures disd086d and explalned In the flnanclal 8tslemen18,' and prepare the financial slatemenl$ on the going ¢on¢ern bas1$ unle$8 11 1$ inappropriate to pre¥um• that the parent cl)arilable company wll continue In buslnes8. The Iruglee8 ore responsi¢ for koeplng yoper ac¢ounllng cOrd9 that dl8¢lo$e wrth re88onable accuracy at any lime the flnanclal pos411on of the pgrent charitab18 company and the group and enable th•m lo ensura that th• financial 81alem&nl8 comply wth the Companles Act 2006. They are also responsible for saleguardlng the assets of the parent charitsble ¢ompany and the group and hence for tsklng reasonable Steps for the prevenOn and delectlon of fraud and other irregularitie8. Ro*ppolntm•nt of •udltor In ac¢ordanc¢ wrth 8ectlon 485 of th• Compani88 Act 2006. a re801ulion for the Te-appointmenl of Westcotts (SWI LLP as auditor8 of tha charlty 18 to b• propo8•d at thè forthcoming AnnuBI G8naral Me&b"ng. Th• annual report was ¥pproved by the trustee8 of th• tharfly on behaw by.. R M Dobson Chairman and tnjstoo Page 8
Warren House Group At Dartlngton Indepondent Audito$ Report to the Members of Warren House Group At Dartlngton Oplnlon We have audlled the finandal stalomonts of Wafren House Group At Dartington Ilho '¢haritabl8 parènt company'l and ils $ubsidiari8s Ith8 'group'l for the year ended 31 March 2024. comprise th• Consolidated Statement of Financial Athvitiés, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Finanaal Stalemenlg, including a summary of significant accounting policies. The financial reporting framework that has been app5ied in their preparation is United Kingdom Accounb'ng Standards, comprising Chanb'e5 SORP - FRS 102 'The Financial Reporting Standard applicable Sn the UK and Republlc of Ireland, and applible law Iuniled Kingdom Generally Accepted Accounting Practbce). In our opinlon the financial stalom8nts'. glv8 a true and fair view of the 51at8 of th8 group's and parent ¢harily'$ affairs as al 31 M¥r¢h 2024 and ol ils incoming resource8 and 8pplic8lion of rèsources, induding its income and Oxpendlture, for the year then ended., have been proptsrfy pr•partd in accordancè with Unitèd Kingdom Generally Accepted AcCntIng Practice,. and have be8n prepared in accordanc• wth the requlremenls of the Companies Act 2006, 84•1• for oplnlon IN8 conducted our audit In accordance with Inlernafjonal Stgnd8rds on Auditing IUKI {ISA8 {UKII ond appllcable law. Our sPOnsIbl11t1es under those standard8 are further described In the auditor rasp0nslbl1}e$ for the audit of the finanaal slalemenls sectlon of Dur report. We are independonl of the group in a¢¢ordanco with Ihe ethical requirements that are relevant lo our audll of the financAal 8tatèmènt$ in the UK, induding the FRC'8 Ethl¢al Stan<Jard. and we hav• fulfilled our other elhlcal responsibillties In accor(18nce wlth these requlr&menl$. We belleve that the audit evidence we have obtained is 8uffi¢l¢nl and appropriate to provide a basi$ for our opinion. C¢nclu•bon• rolatlng to golng concem In auditing the finanaal slatsmenls, we have concluded that the tru81ee$ use of th• goSng concem b881$ of accounting in the preparation of the financial 8talement8 18 8pproprlale. Based on the work we have perfom)ed, we have not id•nlrfled any material uncerta1n¢S relgtlng to events or wnditions that, individually or collectlvely. may ¢a818ignificant doubl on tho group'5 ability to continue 08 a goln9 concern for a period of al least e1ve month8 from when the original fin8ncial $lalemen15 were authoriged for l$$ue. Our responsibilib'es and the respon8ibilitie8 of the Iw8tee8 wlh respect to golng oJnc8m are described in the relevant 5e¢tion8 of this rsport. Othèr Infomiatlon The tru5tee$ are re$pon8ibl¢ for Ihg other infonnalion. The other information comprises the Information included in the annual report, other than the finanual slalemènts 8nd our auditor's report Ihereon. Our opinion on the financial 8latemen18 does not covèr th8 other information and, except lo the extent olhewwi8e axplicitly stated in our report, we do not express any fom of assurance conclusn Ihoreon. Page 9
Warren House Group At Dartlngton Independent Audltorfs Report to the Members of Warren House Group At Dartington In connection with our audll of the financial statements. our sPOnsIbl11ty 1$ to read the other Informab'on and. in doing so, consider whether the other infomialion is materially incon8i¥lenl wlth the financial 5talemenl8 or our knowledge obtained in the audit or otherwise appeals lo be mat•riaiy misstated. If we idenbfy such material inconsistencies or apparent material misstatements, we a required to determine whether there is a material misstatement In the financial $latgmenl$ or a material mi$stalomenl of th¥ other infomiation. If, based on the work w8 hav8 pérformed. we condude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nolhlng lo report In IhS8 regard. Oplnlon an othér matter pr•¢rlbod by tho Compan1•8 Act 2006 In our opinion, b8sÉd on thè work LJndertak&n in tha coursè of thè audit.. the inforniation given in tho and Truste&s' Report for the financial year for whlch the financil 8tslem8nls are prepared is consislenl with the financial 8lalèments,' and tho and Tru8tee8' Report have been preparod in aCrdanCe with aFplicabl8 legal requlrom8nt8. Mattorn on whlch wo 4r• r•qulr•d to report by ox¢•ptlon In the light of our knowl8dg8 And understandlng of the group and the parent tharitable ojmpany and Ils environment obtained in th8 course of the audit, we have not identified matèrial ml$slatemenl8 in the and the Truglees, Rgp¢rt, W8 have nothing to raport in r•8PeCt of the following matters where tha Companies Act 2006 requiros us lo report lo you If, in our oplnlon., adaqualfj accounting records haw rbot bean kept by the parent chgrftable compAny. or retum$ adequate for our audit have rt b&8n received from branches not vi811ed by u8., or the parent charitable comp8ny fln8nclal 8latement$ ore not In 4grgement th th? accounting r•cords and r8turn8,' or certain disclosuros of Irusleos remuneration specified by law are not made., or we have nc4 recglved all the Infomiallon a1 exnaOn3 wo requir8 for our audll. R••pon•lbllltle• of tru$t•e• As explained more fully in the Slalemenl of trugtee8' re8ponslbililieg. the tru91ee$ are re8ponslble for th• pr8p8ratlon of th• fin8nci81 st8taments and for b•lng satisfied that they give a true and fair vSew, and for such intemal control 38 thè trustees determine is necessary to enable the preparation ol financial statements that are free from material misstatement, whether duo lo fraud or error. In pr8parfng th8 financial stat8m8nt8, th8 tnJ8ta85 gra r8sponsibl8 for assessing the chaiity'8 ability lo conbnue as a going concern, disclosing, as applicable, matters Trlaled lo going concern and uslng the going concern basis of accounting unless the truytee8 either intend to liquldale the charlty or lo cease operations, or have no realistic alternative but to do so. AudStor re$ponslbllltlos for tho audlt of the flnanclal statsments Our objectives arg to obtain reasonable assuranc8 about whether the financyal statements as a whole ire free from material misslatemenl, whether due lo fraud or error, and to Issue an auditor's report that ilUdeS our opinion. Reasonable 889urance 18 a high level of assuran. but Is not a guarantee that an audit conducted in accordance with ISA6 IUKI will aVaYS delecl a material misstatement whon f( exists. Mi$stslemenl$ can arise from fraud or orror and are ¢on$idgred material if, individually or in the aggregate, they could reasonably be expect lo influence the economic decisions of users taken on the basis of these finan¢ial statemènts. Page 10
Warren House Group At Dartington Independent Auditor's Report to the Members of Warren House Group At Dartlngton Irregularities, including fraud. are instances of nonwcompliance wf(h laws and rggulations. We design procedvfeg Sn line wlth our responsibilities. outlined above. to detect material mis5talemenls in respect of irregularities, including fraud. The extent to which our procedu9 are capable of detecting irregularities, including fraud is delaSled bdow.. We obtained an understsnding ol the law5 and regUlaon$ applicable to the company through discussions vhth management, and those charged wth gov8mancg. These laws and regulal+on8 whlch were con8idered to have a material •ffèet tsn the fin8naal statements or operats'ons of the ¢ompany were Idgntified Induding followir4J,' Companies Act 2006, Employment Law, Health and Safety Act, Data Proloctlon Act & Charities A¢t 2011, We obtslned an understanding of the entitl8 policies and procodurgs lor as8e83ing fraud risk and Identifying actual or alle9ed fraud by making ènquiries wlth managements and those charggd wllh g0vornan and r•viewing sUPPOrting correspondanc• with relevant authork18& and advi8ors. We obtained an understsnding of the effectiveness of the enlilie$ ¢onlrol environment by lesling 01 management override of contrcils, whl¢h includes bul 18 not limited lo,. lesllng of joumal entries, review of asgumptions and judgements made in accounting oslimate. and r•vlewlng Iran8adon$ ccurring outslde tho normal scope of bu8iness. The use of qualffied and experienced staff members to &nsur• th• •udlt l•am is ctsmpri8od of only Competent and capablo member8 who ara able lo recognise gnd dooumenl any in$lance$ ol non-compliance. A furthor descriptSon of our responslbililies for th8 Audll of the finandal 81gtemenl$18 located on the Financial R•porting Council's websltg at ww.frc.org.uklaudltorsrespon8ibilttle8. Thi$ de8crlpllon forms part of our Report of the Indep8nd8nt Auditors. Uv of our mport Thi$ report 1$ mado solely lo the charitable parent company's trustèè8, as B body, in accordance wilh Chapter 3 of Part 16 of the Companieg Act 2006. Our audrt work ha5 been undertgken so that we might slate lo the group's Iruslees those mall¢r$ are requId to slate lo them in an 8udltorfs report and for no other purpose. To tha fijllesl extent perniitted by law, we do not accept or assuma responsibS1Ity to anyone other than Ihe charitable parent Mmpany and it8 trustees ag a body, for our audit work. for Ihls raport, or lor tho opSnlon8 we have formed. (s-) LLI Adam Croney ACA IS•nlar Stslulory Audllorl For and on b&half of Weslcotts (SWI LLP Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT Date.. Page 11
Warren House Group At Dartlngton Consolidated Statement of Flnanclal Actlvilles for the Year Ended 31 March 2024 (Including Consolldatsd Incom8 and Expendlture Account and Statement of Total Recognised Gains and Losses) unrtrIcted fund8 R•Jtrlctod nds Totsl 2024 Totsl 2023 Income and Endowm•nt• from: Donatlon8 and legacie8 Charltable actlvltles Researth and Development Inve8tm8nl income Other income 2,973 2.973 4.126 1.8Cf,170 16,291 1,8C4S,170 18,291 1,675.481 6,708 325 Tot81 Incomts 1,825,434 1,825.434 1,886.640 Exp•ndlturo on: Raising fund8 Charitable actlvltle8 12,9741 1,720,897 2.000,490 8.745 2.009.235 Total expendlture Nel expenditure Raeonclllgtlon of fvnd• 12,000.490 8,745 2,009,235 1,723.871 {175.058} 18,745 1183,8011 37,2311 Total funds brought forward Totsl funds carried fony8rd 18 1.185,487 8.745 1,174,232 1,211,463 990,431 990,431 1,174.232 All of the group's 8Ctlvi11•8 derivo from eontinuln9 op•rallon8 durfng th• gLswe tr40 period$. The fundg breakdown for 202318 Shown In nol• 18. The notes on pages 16 to 31 form an integral part of these finan(4al stalernent$. Pagè 12
Warren House Group At Dartington (Registration number: 04610839 Consolidated Balanca Sheet as at 31 Mah 2024 2024 2023 Noto Flxed assets Tangible assets 11 15,046 28.250 Currnnt a889ts Debtors Cash at bank and in hand 13 640,919 718,945 739,001 755,142 1,357,884 1,494.143 Cr•ditor•'. Amounts falllng du• wlthln on• y••r N¢t ¢urr•nt WJgts 14 280,252 242,599 1.077,612 1,251.544 Total assets le•• curr•nt1S•bllltle• 1.092,858 1,277.794 103,582 Provl•lon• 18 102.227 Net a880ts 990,431 1,174,232 Fundi ofthfr group: R••trict•d In¢¢me fund• Reslrtcted funds 18 8,745 Unrn•trlct•d Incomo fund• Unrostrictod fund8 990,431 1,165,467 Total fund• 18 990.431 1.174.232 The fin nrAal statements on page$ 12 to 31 were approved by the tw8tee8, and authoriead lor188Ue and signed on their hav by.. R M Dob8on Chalrman and trustee The notes on pagas 16 to 31 fomi an integr¥l part of these finano818t8lement$. Page 13
Warren House Group At Dartlngton (Reglstratlon numb8r: 04610839) Balance Sheet as at 31 March 2024 2024 2023 Nots Fixed assets Tangibla assats Investment 4.427 6,162 4.428 6,163 Curr•nt a•••ts Debtors Cash gt b8nk and In hand 919,886 478,145 838,327 602,905 1,395,831 1.441,232 r•dltorn: Amounts falllng du• wlthln ono y•ar Ngt current a•••t• 14 153,381 226.741 1,242,470 1214,491 Totsl a•i•ts l••• curr•nt Ilabllltle• 1,246,698 1,220.854 Provl•lon• 102,227 103,562 N•t a•••t• 1,144,671 1,117,092 Fund8 of the charlty: Rg•trfcted Income fundB Reslrlcted fvndty ,745 Unre•trl¢tsd In¢om? fund• Unreslrtcled funds 1,144.871 1,108,347 Totsl fund• 1,144.671 1.117,092 The finanual $tslemenl8 on pag08 12 10 31 wer8 approved by the trustees. and authorlstd ftir18sue on ..Ll.l.ql.2. and Signed on Iheir ha by.. R M DDb80n Chaimian And tru8t•• The notes on pages 16 to 31 fomi an integral part of the¥e finanoal stslments. Pa99 14
Warren House Group At Dartlngton Consolldated Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note C••h flovrn from operatlng activiti•8 Not cash expenditure 1183,8011 (37,2311 Adlustmonts to c•8h flow• from non448h It•m• Depr8¢latn Intere¥t received Loss on di8posal of tangible fixed assets 15.547 116,2911 14.016 16,7081 2,849 1184.5451 127.274) Worklng capltal adJu8tm8nts Decreasellincrea8el in dobtor8 Increaselldtscreasel In cfftdilors IDecra888)lincrease In provl8lon8 Nel ca$h flowj from operatlng 8dvllle8 C••h flow8 from Invutlng actlvltle• Inlera8t recelved PUh39& of langlbl• flxed assets Procetsd8 from sale of tanglble fixed assets Nel cash flow8 frcm Investlng actIvitr$ Not deueage In cash and ¢a8h equivalents Ca8h and cash •qulvalenl8 gt 1 Aprfl Cash and cash OqUNalenls at 31 Mgrch 13 14 16 98,OB2 37,653 1,335 192,3301 1106,6671 S6,159 50,145 170,112 16,291 14,3431 8.708 113,148} 2,030 {38,1971 755,142 1174,5221 929.884 718.945 7S5.142 All of th8 ¢08h ttows ar• d•rlv•d from contlnulng operations during the above porf¢Jd8. The notes on pages 16 to 31 fcfm an integral part of these finanal $tal¥ments. Paga 15
Warren House Group At Dartington Notes to tho Financial Statements for the Year Ended 31 March 2024 1 AG¢ountlng pollclo8 Statsmont of compllanco The financlal 518tements of the charitsble company, whlch is 8 publlc benefit entity under FRS 102, have been prepared in accordance with the Charibes SORP IFRS 1021 'Accounting and R8POrting by Charities. Statement of Recommended Practicè applicab lo ¢harilie$ preparin9 their accounts in accordanc8 with tha Finanaal R8porbng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191,, Financial Reportlng Standard 102 'The Finanaal Raporting Standard applicable in the UK and Republic of Irgland, and tho Companies Act 2006. Bas1$ of pr•paratlon The finanaal statements have been prepared und&r the historical $t convenllon, wllh the exception of inve61menls which are included at market value. The tharity conslllLrte8 a publlc benefit entity a8 defined by FRS 102. Th• trust$ considor that ther8 re no material vncertainlies about the ¢harily'$ 8bilily to ectInUe as a going concem. There are no material uncertaintl88 affect the curr8nt years accounts. Incomo and 8ndovnn•nt8 All Incom8 18 recognisad In the Statement ol FinancSal Actlvilles once the d)arily h89 entitlament ¢0 Ihe fvnds, il 18 pfcbable that the in¢om& wlll be recelved and th¢ amount can be meagured reliably. Servic4 contract8 are reOnI8•d b88d on th• 8lag9 of compl8tlon, whlch 18 mtr88ur8d by the amount of staff houro pul against that contract. Income from the provi8Ion of Services 1$ Slalod after trade discounts, otheT le¥ taxeB and net ol VAT. Don$tlon$ and l•ga¢l•$ Leg8cle8 are accounted for as Income elther upon receipt or wh•r• the receipt of legcy 18 probable, C8n be rellably measured and all con¢JlUon8 attached lo the legacy have been fvffille¢t. Grnftts reeélvoble Gr8nl$, donations and invgslmenl Incomg are regniSed vthen receiv¥ble, Where Such am¢unls have terms or ndItOn8 whlch musl be met for specific activities, th• relevant income is not rewnlsod In the year but defgrred gnd shown on the balance she&t wlhin current liabilitie8. Expendlture Llabililie8 are rewgni8ed as expendStur8 a8 800n as there is a legal or construcbve obllg3lion committing the charity lo that expenditure. it is probable that a transfer of $¢onomic bonefils will be required in settlement and the arnnt of the obligation c8n b• measured reliably. Expenditure is accounted for on an awual$ basis and ha$ been dassified under headlngs that aggregate all cost related lo the category. Where ¢0818 eannot be dlrectly attributed to particular headings they have been allocated lo a¢tivitse$ on a basis consislenl with the use of resource5. Ch•ritabl• aetlvltles Charitable expenditure comprises of regearch. development and disseminallon 8ctivlty. Page 16
Warren House Group At Dartington Notes to the Financial Statemanls for the Year Ended 31 March 2024 support co8t Costs comprise direct expenditure including diract staff costs attributable lo the activity. Staff costs are allocated in accordance to b"m• spent ort pr¢je¢t$. Administratitsn and management costs arè allocated in the same way. Other costs a allocated in proportion to income generated by the ackn'vty. Support costs are those functions that assist th• WO of th• charity bul do not diredy undertaké charrtable acllvlties. Govemance co8ls Involvlng the public accountability of the charlty and its compliance with regulation and good practice. Th989 costs Indude costs rg18led to ststutory examinations and legal lees together wth an apportionment of ovethead and 8UPPOrt costs. These ¢0818 are induded within charitsble activities when relevant. Tanglble flxed a8Sots Fixed assets are only capitalised when tho valu& exceeil8 £1,000. Th• Company applle8 8 short life pollcy of 3 years 8lralghl linè. D•prncltlon Fbxed assets ar8 held at hl8torlc ¢08t1è88 accJJmulated depr8daUon. D8preci8tlon 18 provSdod 8t the follovAng annual rate8 in order to wrilg off 9ach a$$el ov•r Its e8llm8t•d u80fv1 Ilfe. Depr•cSatlon method and rat• 20% on cost 33% on cost Fixtures and fittings Computer equipment Taxatlon The charity 18 exempl from corporalon lax on ils charftabl• acllvhles. Fund •tructur• Unrestricted fvnds can bè used In accordance wlth the charllable objgctlv&8 at the dl8creUon of the trustse$. The tharity has de8ignated certain funds for speclflc purpo8e alth9h thera 18 no 18gal force for the d&8ignationg. Re$tricted fund$ can onty be u8ed for pgrticular re8lrfcled purpoees wfthln the obloclg of the thamty. Restrictions ariB8 when Bpecthed by the donor oi when fund8 are rai8•d for particular reStrted purpo8è9. Further expl8n81ion of the nattjre 8nd purpose of eac fvnd is Included in the notes to the finanthal •talemgnts. Forolgn •xchango Assets and liabilibes in foreign curr8nci&s ar8 translated inlo Sterling * the rate$ of *x¢hangè ruling at the balance sheet dale. Transactlons in foreign ojrrencies are translated into sterling al the rate of exchange ruling * the dale of Iran$ath'on. Exchange (Jbfferences are taken Snlo account in 8rrivin9 at the operating resulL Page 17
Warren House Group At Dartington Notes to the Financial Statements for the Year Endad 31 March 2024 Pon8lons and other post retirement obligations Thè charitsble company operates a defined contribution pension sch8ma. Contributions payablè to the charitable company's pension scheme are charged to the Statement of Financial Aclivilie8 in the p¢MvJ lo which they relate. FRS 102 makes the distinction betren a group plan and a muth'_employer Schemè. A group plan consists of a collecilon of enlltles under common control typically with a sponsoring employer. A multi-ernployer scheme is a schem& for &ntiti8s not und8r common control and represents {typicallyl an indu$lry-wlde scheme such as Universities Superannuation Schemè. Th• accounting for multi.employer schame whare th8 employer h88 entered into an agreement wrth the scheme that determine8 hLlW the employer will fund a deficit results in the reco9nlfjon of a Ilabllrty for the contributsons payabl8 that arisè from the a#m81 Ilo the extent that they relate lo Ihe deficAtI and the reyulling expen8e in profrt or loss in accordance with section 28 of FRS 102. The truBl8es are 8alS8fi8d thal Unlvor$lli¥s Supgrannuallon Sch&me mee18 the definltlon of mulli-employar scheme and has therefor8 recognised the discounted fair valu¢ of the ¢onlra¢tuo1 contrlbution8 under Ihg recovery plan In exi8lence at the date of approving the financial Blatemenls. The Charity parbcipales In Unlvorslllos Superannualitin S¢htrme. The scheme Is a hybrid pen8ion 8cheme, providing defined beneffts (for all membersl, as well as dèfined contn'bub'on banefils. The assets of the geh8me are held In a separate Iru81ee-adminislered fund. Because of the mutual naiure of th¢ scl)emtr, the assets are not attribu¢gd lo indivldual inslllufjons and 4 8ch8me-wi¢Je contribution rat8 19 sel. The Charity is therefore exposed to actuarial risks assocAated wrth other inslilution$' employees and i& unable to Identlty its share of the undertying 8ssetg and Ilabllllie8 of the geheme on con$i$lenl 8nd rea8onabl8 basis, AS required by Secllon 28 01 FRS 102 "Employee benefits" the charity therefor8 account8 lor the Scheme as W11 were a wholly dèfin8d contribution Bchèmè, AS a re8utt. the amount charged to the profil and1085 aAUnt represents the contribution8 payable lo the scherne. Since the instliution has entered into an 0gre¢m¢nl Ilhe Recovery Plan) that delèmine8 how eath employer within the ¥cheme will fund the overall defiul, the charity recognises a liability for the contribution8 payable that art80 from the agra•m8nt (to the extent that they rolate lo the deficlt) and therefore an expense 1$ r¢nIsed. The charKy'8 tot81 Ilability under the r•cov•ry plan has b••n r•aJgni8•d in the ac¢ounl$ at Its pregent value. Conlributlons towards this plan continue lo be made on a monthty b8si$ and the accounts wlll recognise the unwinding of the relevant discount provision. Page 18
Warren House Group At Dartington Notes to the Financial Statements for the Year Ended 31 March 2024 Flnan¢ial Instruments Tho trust only has finandal assets and financlal Ilablt8$ of a kinfj that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and SubBequeY measured 81 their 8ettlement value. Crodltorn And Provl8lon8 Crgdltor8 and provlslon8 are rgcognised where the chartty has a prgsent obligation reyulting from past event that will probably result in the transfer of funds to a third party and the amount dua to $81I• the oblallOn can be measured or estlmatod reliably. Creditor$ an¢J provisions are normally recogni$ed 8t thelr $elUgment gmount. 2 Inc¢m• from donatlon• and1ogacl6• Total 2024 Total 2023 Don*ticl 2.973 2.973 4,128 4,126 3 In¢om• from charltablo actlvltle• Tot•1 2024 Total 2023 Re8&arch and Dtvèlopmenl 1.806,170 1,875,461 Includ•d In gignt8 r•c•lv•d ar• th• followlng amounts r•c•ived from Govemmenl and other Public Authorilie8'. 2024 2023 Lab Wi 111 239,409 232,812 Pa99 19
Warren House Group At Dartington Notes to the Financial Statemonts for the Year Ended 31 March 2024 4 Inve8tmont Income Total 2024 Totsl 2023 Deposit account Intèrest 16.291 6,708 6 Othor Income Total 2024 Total 2023 Income on dlspo881 of fixed a88ets 325 325 6 Expendlturo on ralBlnq fund• Totsl 2024 Total 2023 Lo88 on •al8 of asaets 2,974 7 Expfrndlturn on charbt•blo 4¢tlvltl•# Total 2024 Total 2023 Royearch and Oevelopmenl 2,009,235 1,720.897 8 N•t Incomlngloutgolng mour¢o8 N•¢ InrnIng re8ou$ for the year includo.. 2024 2023 Audlt fee$ Loss on disposal of tanglble flxed aseels Depreciation of flxad a98ets Accounting 10,500 6.500 2.849 14,016 15,022 15,547 12,232 9 Tru•t8•8 rnmunaratlon and •xp•ns•• No trustees, nor any persons conng¢ted wth them. have re¢e4ved any rgmungrallon from tha group during tha yaar or praceding year. No trustees. nor any person conn8Ctad wrth them, have been relmbursgd for ony fjxpense by th& group Charity during the year or predIng y8ar. Page 20
Warren House Group At Dartlngton Note8 to the Flnanclal Statements for the Year Ended 31 March 2024 10 Staff coBts The a99r8ggte payrdl cosls were as follows.. 2024 2023 Staff durfng th• yoar wer•: Wages and salarieB Social Sacurty Costs Penglon cog18 1.072,800 112,356 91.159 956,348 102.372 87,988 1,276.315 1,128,706 The monthly 3ra91 numb•r of p•r8ong lindudSng senior management I leadershlp team) employed by th8 group durlng the year expressed a8 fv11 lime equlvalents wa$ 3$ foll¢)ws'. 2024 No 23 2023 No 24 Monthly average number ol person8 employed Thè numb•r of omploye88 whoB8 emofument¥ fell withSn the followlng bandB Was.. 2024 2023 No £60.001 - £70,000 £70,001- £80,000 £80,001- £90.000 £90,001- £100.000 £100,001- £110,000 Page 21
Warren House Group At Dartington Notes to the Financial Statsments for the Year Ended 31 March 2024 11 Tanglblg flxod a$$8ts Group Furnltur& gnd •quipm•nt Computsr •qulpm•nt Total Cost Al 1 Aprll 2023 AdditY)n$ 5,263 48.375 4.343 53,638 4,343 A¢ 31 Mah 2024 5.283 52.718 57,981 Doproclatlon Al 1 April 2023 Charg8 for th8 yèar Al 31 Mah 2024 5,283 22.125 15,547 27.388 15,547 5.283 37.672 42.935 N•t book valu At 31 March 2024 15,048 15,1)48 At 31 Mar¢h 2023 26,250 26.250 Ch•rlty Furnlturn and oqulpment Computer •qulpmonl Tot41 Cost At 1 April 2023 Additions S,263 14,371 2,095 19.834 2.095 At 31 March 2024 5,203 16.486 21.729 D•prnclatl¢n At 1 April 2023 Charye for the year Al 31 March 2024 5,263 8.210 3.829 13.473 5,263 12.039 17.302 Not book value At 31 March 2024 4,427 4,427 Al 31 March 2023 6,162 6,162 Page 22
Warren House Group At Dartington Notes to the Financial Statements for the Year Ended 31 March 2024 12 Flxod asset Invosthi•nts Ch•rfty Sharo8 In group undortaklngg and partlclpatlng Intsr•8ts SharnB In group und•rtaklngs Mark•t v•lu• Co81 N•t book v•1 At 31 March 2024 At 31 March 2023 Tharo w8re no Inv88tm•nl a888ts out81de the UK. 13 D•btor• Group 2024 Charlty 2024 2023 2023 Trade d8blor8 238,824 325.905 86.197 615.1 $5 158,975 Inler-company loans Prepaym•nt ond accru•d Incom• 817.473 102.211 402,095 413,098 640,919 739.001 919,884 838,327 Page 23
Warren House Group At Dartlngton Notes to tho Flnanclal Statements for the Year Ended 31 Mah 2024 14 Credlt¢rn'. amounts falllng du• withln on• ymr Group 2024 Charfty 2024 2023 2023 Trade cred6torB VAT 24,725 61,222 3,637 23,500 23,2 143,872 44.456 56.750 34.519 77.550 980 1,175 61,222 3,637 66,602 Olhar taxation and soclal s•¢urity Arual9 and deferred income Other credltors 3,831 1628} 84,073 Accru•d expen$ 28,344 155,268 280,252 242.599 129,479 226,741 15 Obllgatlon• und•r1oa••8 and hlm purch*#• contracts Totsl future minimum le8Je payments under non-cancellable operatlng leas88 are as follows.. Group 2024 2023 Within one y•ar 88ttvean on8 and fivo y8ar8 18,533 15,444 33,977 18,533 15,444 33,977 Page 24
Warren House Group At Dartlngton Notes to the Flnan¢lal Statements for the Year Ended 31 March 2024 16 Provl8lon$ Group P•n•lon contributions prov181on Total Al 1 April 2023 Dacr8ase du& to passage of tlme and change in discount rats Al 1 April 2024 1103,5621 1,335 1103,5621 1,335 102.227 102,227 There is 8 r8COV8ry Pertod endlng in 31 March 2038 and a provislon of £102.227 has been included. This has been derived from an 8verage of cuffénl employment pen5i¢n al tho now ral•$ and a discount rate of 4.75% has been applied based upon information obtslned from the pension sch8me provlder USS. Ch•rlty P•n•lon contrlbutlons provlslon Total At 1 April 2023 Decrease due lo pag8age of tlm• and charvde in discount rale At 31 March 2024 1103,5621 1.335 1103.5821 1,335 102,227 102,227 17 Employeg Bfrn•fit Obllgatlon The latest Bvallable complet8 actuarlal valuation of the Rellremenl Income Builder Is as al 31 Marth 2023 Ilhe valuation datel, whith wa8 carried out using the projected unil method. Since the instiluuon cannot entIfy its share of USS Retlremenl Income Builder (defined benefill OS8ats and liabili11g$, the foll¢)wing ¢JI10$ur9S rgflecl Ihcse relevant for thosg as$g19 and liabilib'es a$ whole. Th8 2023 vBluatlon was th8 8eventh valualon for tha 8chgm8 under the 8ch8m8.SP8dfic fundlng regime introduced by the Pen8ions Act 2004, whith requires schemes lo have sufficient and appropriate assets to covar thair tachnical provisions Ith& $tatulory funding objectiv•l. At the valuation dale, the value of the assets of the scheme was £73.1 billion and the value of the scheme'8 technic81 provisi¢)n8 w¥$ £65.7 billion Sndlcaling a $urplu8 of £7.4 billlon and a fun¢Ylng rallo of 111 %. The key financial assumptions used in the 2023 valuation are described below. More detail 18 set out in tho Stslement of Funding Prinaple8', luss.co.ukJaboul-uslv*luatiorFand-fundinty8talement-of-funding-principlesl. Pag9 25
Warren House Group At Dartington Notes to the Flnanclal Statements for the Year Ended 31 March 2024 CPI as•umptlon Term depèndent rale5 in line wth the difference beeen the Fixed Interast and Ind8x Linked yiald curves less." 1.0% p.a. to 2030. reduung linearly by 0.1% p.8. from 2030. PeiOn incr8aso8 (subject to a tloor of 0%) CPI assumption plus 0.05% Dlcount rats Iforwrd rats) Fixed interest gill yield curve plus.. Pre-relirgmenl., 2.5% p. Post retSremenl'. 0.9% p. The main demogr8phic 888umplion8 u8ed relate to the mortalSty assumpfjon8. Th88e as8umplions ar based on analysis of the 8cheme's experience carried out as part of the 2023 actuarial valuation. The mortalty assumptions usgd in these figuros aro as follows.. Mort411ty basg tabl• - 2023 valuatlon 101 % of S2PMA"lighf for males and 95% of S3PFA for femal•s Fulur• Improv•m•nt• to mortallty CMI 2021 with a smoothing parameter of 7.5, an initial addltkjn of 0.4% p.a. and a long-tem) improvement rale 011.8% pa for m410$ 4nd 1.8% pa for1om4le$ Tho current Ime axpectancles on rotirèménl at agts 85 arè.. 2024 Y•rn 23.70 25.80 25.40 27.20 2023 Yèarn 24.00 2560 26.00 27,40 Current UK p8nsion•rs at retiremènt agè- malè Current UK pen8ioner8 al retirement age - female Future UK pensioners al reb'rement aga- male Future UK pensOn8r5 81 relremenl - lemaltr A deficit recovery plan was pul in place as part of the 2020 valuali¢)n, whkh r¢qulr¢d payment of 8,2% of $alari88 over the perlod 1 April 2022 until 31 March 2024, al which point the rate would increase lo 8.3%. No defiol recovery plan w89 r8quir8d und&r the 2023 valuation becatjse the hem• was In 8urplu$ on a lethnical provlsion8 bayi3. The institution was no longer required lo makg deficit recovery contribution8 from 1 Janu8ry 2024 gn¢J accordlngly rel•ased the outstanding provlsion lo the profit and 1068 account. 2024 2023 DI8Unt rate Pension Incroag•8 (CPI 4.30 3.00 4.75 3.00 Pag• 26
Warren House Group At Dartlngton Notes to tho Financlal Statements for the Year Ended 31 March 2024 18 Fund$ Group Balance at 31 March 2024 Balanco at 1 Aprll 2023 Incomlng rosourcos Resourc88 •XPgnd•d Unro•lrl¢tsd lund• General fvnd Fixed asset de$lgnaled fund Total unrnstrlcted lund• 1.159,325 8,182 1.825,434 {1,996,8811 13,829 988.098 2.333 1.165,487 1.825,434 {2,000.4901 990,431 Rg•trlcted fund• ThSnk FoThvard 8.745 8,745 Totsl fund• 1,174,232 1,825,434 2,009,235 990,431 Balan¢9 at 1 Aprll 2022 Balanco at 31 March 2023 In¢omlng Ra8ource• r••ourco• •xp•nd•d Tr•n•forn Unmtrlct•d fund• General fvnd Fixed a$8et designated fund 1.208,101 1,621,518 11,084,634) {S,8801 1.159.325 3,362 3.185 5.880 6,162 Totsl unr••trfctsd fund• 1.211,463 1,821,843 11,607,819) 1.165.487 Rmtrlctod fund# Think Forward 24,745 (18.000 8,745 Tol•l fund• 1,211,463 1,846,588 1,683.819 1.174,232 Pago 27
Warren Hou88 Group At Dartington Notes to the Financial Statsments for the Year Ended 31 March 2024 Charlty Balan at 31 March 2024 Balan¢• ¥t I Aprll 2023 Incomlng rosources Resources •xp•nd Unrostrfctod fvnd• Genernl General fund Fixed as8el designated fvnd 1,102,185 6,162 447.617 1448.5771 3.829 1,101,225 2,333 1,108,347 447.617 {452.4061 1.103,558 RtrIcted fund• Thlnk forward 8.745 8,745 Total fund• 1,117,092 447,817 461.151 1,103,558 Balon at 1 Aprll 2022 Balanc• •t 31 March 2023 Incomlng Ros¢ur¢ reUr¢& oxpended Tr•Mhrn UDr••trl¢tsd fund8 Gonernl Gener81 fund Flxod as¥¢l d¢$ignaled fvnd 961,901 523,958 (378.0141 (5,660) 1,102,185 3,362 3.185 5,680 6,182 965,263 524,283 (381,1991 1.108.347 Re¥trf¢tod fvnd• Think fomard 24,745 18,000 8,745 Total lund• 965,263 549,028 397,199 1.117,092 P8ge 28
Warren House Group At Dartington Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Unrnstrlctsd funds The unrestricted funds cLJn8ists of fund8 whlch the tharity may u8e for Its Charitable purpose 8t It8 discretion. 019n4d fund¥ The fixed asset fund repre8ents the value of the chartys funds that are held in thè fom of tsnglble fixed assets nel of any borrowings directly for the purpose of purchasing these fixad 89gels. They are held specAflcally lo furth&r the day to d8y ath'vities ot the tharity and are gxw¢tgd lo b8 hold on a long term basis. As Buch they are therefore not fraely available to spend. R•*trictsd fvnd• The Blg Lottery Fund 1$ rostricted frjnds. The$0 funds ar• to b• u8•d lo address poor emob'onal health and coerciva relationships In Renfrewshlre, by mapplng th• current $teM and identifylng stra18gl8s to redSre¢t resources lo earty actlon. Think Foward UK fund is restrictad fund8. Theye funds are lo be u8ed to help young people and advance th$ Ilve8 ol young p8ople by provldlng 8UPPOrt and 8ctlviti89 whlch devdop Ih8Sr $klll$, apacAties and capabili11•8 to #na? tM to partl¢ipats In 80CA8ty a8 Ind•p•ndont. matur• and re5pon3ible individualg. Stand Togolher Foundatlon fund 18 ro$trfcted funds. Th888 fund8 ar• to knprov8 the lives of young peopl8 wrth adUCatnal, Kaenlific or Ilteracy 8UPPOrt, 19 An•ly•l• of not fund• Group At l April 2023 At 31 March 2024 Ca•h flow• Co8h at bank and in har 755,142 38.197 718,945 716,945 Nel debt 755,142 138.197 Page 29
Warren House Group At Dartington Notes to the Flnanclal Statements for the Year Ended 31 March 2024 20 R•lat•d party transactlons Sales were made to Warren House Group at Dartington totalling £318,495 12023 £258,153), In Spect of 8ervlce ¢onlrad$ undertaken. Expen885 lolallbng £125,247 12023 - £245,OCel wert Cross charged from Warren House Group at Da.ngtOn for shared office costs and management b'me. Closing debtor of £nil 12023 - £189.1651 and a closing credllor is owfjd to Warren House Group at Dartinglon at the year-end of £817,473 12023 £687.061 I. Tha loan from Warren House Group at Dartington is sered and Intero81 is charged al 3% above base, interest was payable in the year of £39,776 on this loan. In addition, a donation was mado of £53,324 to Warren House at Dartington during the year. 21 Subsldlary tradlng activiti8• The charity owns 100% of tha company. Dartington Servlc• D•$lgn Lab Limtted Icompany no.. 126136001 who88 registered office Is Lower Ground Floor, Higher Mi115, Bud(fagt Abbey, Buckfaslleigh, Devon. T011 OEE which operates a number of commercial venturas on behalf of th Charity. Tha subsldiary donates Its taxable profits to the charity each year by gift aid. Dartington Service Design Lab Lirniled 18 indudod In Ihe$a consolidated accounlB. 115 Iradlng re8Urt8 for the year extracted from the financial statements are summarlged b¢low'. 2024 2023 Tumover 1,807,709 1,564,481 1,807.709 1,564,481 11,977,884} 11,507,340) {170,1761 57,141 11,4281 1171,8031 1.799 1169,8041 Gro•• profit Adminlslralive expense8 Op•r•ting IIM•llprofft Interest payable and similar expenses ILoMllproltt beforn tsx Tax on1108sllprofjt ILouVprofit for the flnancl•l y•*r 57,141 13,817) 63,324 Page 30
Warren House Group At Dartington Notes to the Financial Statements for the Year Ended 31 March 2024 22 kn¥59ts and Ilabllltles of lh8 subsldiary 2024 2023 Flxod a81•ts Tangible assets 10,619 20.088 Current aB8gt• D8blor8 538,708 240,800 779.508 779,209 152.237 931,446 Cash al bank and in hand Cfodllor• Amount falllng due wlhln one year Not currènt ass8t• 1272,7941 1454,1381 606,714 477,396 Tot•1 4¥sgts h•• currnnt IlablllUoB 617,333 497,396 Credltorn Amount falling dl after more than or¢e year Provl•lon• for Ilabllltle• (631.794) 1440,2541 <2,018) 13,8171 {116,479 03,326 Capltal and r•••M• Called up 8hare capital Piofrt and10ss account {116,480) {118.479) 53.324 53,32S 8harehold•r•' {doficlt)Ifund• Pagg 31