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← Southwark Diocesan Welcare

2024-03-31-accounts

TRUSTEES’ REPORT & ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

Welcare is a charity based on Christian values, working with families and children up to age 13, in South London and East Surrey.

Our vision is of a world where every child and family is respected, included and resilient and able to overcome the challenges in life.

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Legal & Administrative Information

Trustees Christopher Elliott (Chair)
Rachel Phillips
Paulette Tajah-Bell (until 31 October 2023)
Christopher Taylor (Honorary Treasurer)
Nicola Thomas (until 17 October 2023)
The Ven Greg Prior
Louise Villeneau
The Ven Allie Kerr (from 17 July 2023)
Natalie Walters (from 27 November 2023)
Chief Executive Officer Anna Khan
Management Team Katie Toal
Barbara Wilson
Catharine Adjei
Diane Taylor
Charity Number 1107859
Company Number 5275749
Registered Name Southwark Diocesan Welcare
Registered Office 24 Warwick Road
Redhill
Surrey, RH1 1BU
Correspondence 48 Union Street
Address London, SE1 1TD
Auditor TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex, BN44 3TN
Banker National Westminster Bank plc
London Bridge Branch
PO Box 35
10 Southwark Street
London, SE1 1TJ
Solicitors Russell-Cooke
2 Putney Hill
London, SW15 6AB

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Our Centres

Registered Office

24 Warwick Road Redhill Surrey RH1 1BU

Central Office, South London Services and Correspondence Address

48 Union Street London SE1 1TD

Tel: 020 7820 7910 Email: info@welcare.org

Bromley Centre Community House South Street Bromley BR1 1RH

East Surrey Welcare House 24 Warwick Road Redhill Surrey RH1 1BU

Tel: 020 8466 0399 Email: info@welcare.org

Tel: 01737 780884 Email: Redhill@welcare.org

Southwest London Services and Correspondence Address 48 Union Street London SE1 1TD

Tel: 020 8893 9123 Email: info@welcare.org

welcare.org @welcareuk facebook.com/welcareuk @welcare_uk

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Contents Page
Chair’s Report 4
Trustees’ Report 5
Introduction 5
Public Benefit 5
Objectives and Activities 5
Objects of the Charity 5
Aims of the Charity 5
Activities of the Charity 6
Achievements and Performance 7
Performance against objectives 7
Outcomes 8
Plans for the Future 8
Contributions from Volunteers 9
Financial Review 10
Reserves Policy 10
Investment Policy 11
Fundraising Policy 11
Principal Risks and Uncertainties 12
Structure, Governance and Management 14
Governing Document 14
Trustees 14
Organisational Structure 15
Safeguarding Policy 15
Relationships 15
Key Management Personnel Remuneration Policy 16
Statement of Trustees’ Responsibilities 17
Independent Auditors’ report 18
Statement of Financial Activities 22
Balance Sheet 23
Statement of Cash Flows 24
Notes to the Accounts 25

Southwark Diocesan Welcare is a Charity registered in England & Wales President: The Bishop of Southwark Registered Charity Number: 1107859 Chair of Trustees: Christopher Elliott Company Number: 5275749 Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Welcome from the Chair

I am very pleased to present this report of Welcare’s achievements during the past year. It has been a pleasure and privilege to work with my fellow trustees and the team at Welcare. During the year we have had a number of changes on the Board: Paulette Tajah-Bell and Nicola Thomas have stood down. I would like to formally record my personal thanks to each of them for the contribution they have made to our work. We have welcomed Ven Allie Kerr and Natalie Walters to our number and I look forward to working with them in the future.

The central office team has settled into their new office in Union Street, London SE1, where we are sharing premises with Southwark Diocesan Board of Education who we are working closely with on delivery of our CapeAbility in Schools programme. Rationalisation of our office accommodation will be complete when we move into the Castelnau Community Centre to deliver services in southwest London.

I would like to thank all those who have supported us financially including individuals, churches and corporate bodies. The Diocese of Southwark continues to provide us with a grant for which we are extremely grateful. Others who have provided us with grants include City Bridge Foundation, the Charity of Sir Richard Whittington, the PTL Foundation, the Netherby Trust, Richmond Parish Lands Charity, St Faith’s Trust, Barnes Fund and Sherborne in the Community,

Throughout this year we have provided help and support to 855 families. None of this could have been possible without the dedicated work of Anna Khan, our Chief Executive Officer, and her wonderful team who I would like to take this opportunity to thank for their relentless efforts. Special thanks also the Fay Morris who retired this year after many years’ service to Welcare. It has been especially good to welcome Katie Toal as our new Head of Practice.

We are pleased that we can continue to provide services and support families in Redhill in partnership with East Surrey YMCA under a contract with Surrey County Council.

I feel that the Charity is well placed to continue with our work and to move forward after some challenging years not least of which has been the Pandemic.

Christopher Elliott Chair

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Trustees’ Report

Introduction

The trustees, who are also directors of Southwark Diocesan Welcare for the purposes of the Companies Act 2006, are pleased to submit their annual report and audited financial statements for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” issued in 2015 – Second Edition effective 1 January 2019, the Companies Act 2006 and applicable UK accounting standards in preparing the annual report and financial statements of the organisation.

Public Benefit

The trustees confirm that they have complied with their duty under Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

Objectives and Activities

Objects of the Charity

Welcare is governed by the articles of association and memorandum dated 2 November 2004 and amended 29 September 2010 and 23 September 2015. The objects of the charity are:

Aims of the Charity

Our vision is of a world where every child and family is respected, included and resilient, and able to overcome challenges in life.

Our mission is to work alongside parents and carers to give children secure and confident childhoods and to enable them to thrive in the future. To achieve this, we aim to:

  1. Support families and children to develop resilience, confidence and self-esteem.

  2. Enable children and families to thrive within their communities.

  3. Provide practical support to meet immediate needs.

  4. Work with families to prevent the need for statutory social work interventions.

  5. Develop our services to support children’s emotional health and well-being.

  6. Work collaboratively with the community, schools and churches.

Welcare staff and volunteers aim to intervene early to provide practical and emotional help and support to strengthen families who are experiencing difficulties. Our aim is to enable a parent to become the very best parent they can be to their children, to engage with their available networks and to improve the outcomes for vulnerable children and their families. We believe that by working together we can create a society where parents and children have the confidence to recognise and seize every opportunity to flourish.

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Activities of the Charity

Identifying the need

We work across South London and East Surrey with children and their families facing the following challenges:

For children aged between 7 and 13

Parents with children up to the age of 13

Activities addressing the need

We are continuing to focus our charitably funded support services to alleviate the impact of:

To address the need, our dedicated professional staff work with individual children and their parents; we work to build and strengthen the positive elements of family lives and to prevent future problems by intervening early and breaking cycles before they become entrenched.

In the spring of 2023, Welcare enlisted the services of the Cranfield Trust to carry out an independent evaluation of our Families & Schools Together (FAST) programme. The evaluation included the views of the children we were supporting, their parents and caregivers, focused interviews with school staff and with staff across Welcare. CapeAbility in Schools is a bespoke programme designed by our experienced family support staff in response to this evaluation and is designed to support children with post-covid anxieties alongside other adverse childhood experiences to improve emotional health, wellbeing and resilience in children in key stage 2.

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Achievements and Performance

Performance against objectives

We have continued to build our Child and Family Support Service to enable delivery of a consistent community-based service throughout South London boroughs and extending into East Surrey. This service has been provided alongside the Family Centre and Early Help services commissioned by Surrey County Council. Our most significant achievements of the last year include:

Our loyal supporters organised a range of traditional fundraising events during the year including sponsored walks, concerts, theatre visits and community carol singing and raised £17.2k from events. (2023: £16.9k)

We have been heartened that despite their own challenges over the year 54 individual churches supported our work in the last financial year. It is always a pleasure to visit churches and speak with supporters about our work. A particular highlight of the year is the Annual Service of Thanksgiving for the work or Welcare held in Bromley Parish Church followed by a wonderful networking lunch provided by Friends and Parish Reps. This year the supporter video was shown for the first time during the service.

Total income from Trusts and Foundations amounted to £109,470 (2023: £192,951).

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Outcomes

Welcare staff and volunteers work alongside parents to give children secure and confident childhoods and to enable them to thrive in the future. We strive to empower families with children up to the age of 13 by offering practical and emotional support to overcome challenges and change lives for the better. To achieve this, we:

During the year we received referrals from a variety of sources including schools, children’s services and health service providers. Reasons for referral included child and parent emotional wellbeing, domestic abuse, and low self-esteem.

Our families received additional support in the form of supermarket vouchers, household items and children’s clothing worth £48,827 in value (2023: £38,000).

Welcare uses Family Outcomes Star+ to measure the impact of our work with families. This is an evidence-based tool which places the beneficiary at the centre of their own journey of change. Each scale on the star is underpinned by the Journey of Change for that Star. And we aim to make a significant difference using at least 3 scales on the star with 80% of the families we work with. In the year 2023-24 78% of parents reported a significant personal Journey of Change using the following scales on the star:

We use these insights to ensure we’re making a lasting difference to the children and families we support.

Plans for the Future

The review of Welcare’s charitably funded services continues as we seek to provide a more consistent service throughout our area of benefit and deliver key interventions and programmes that make most efficient use of our limited staff resources to make a lasting impact for children and families. The key elements include:

Southwark Diocesan Welcare is a Charity registered in England & Wales President: The Bishop of Southwark Registered Charity Number: 1107859 Chair of Trustees: Christopher Elliott Company Number: 5275749 Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

building emotional well-being, resilience, and self-esteem. Through our strategic relationship with the Southwark Diocesan Board of Education (SDBE) we seek to extend the service to other children and families in schools working in clusters in areas of high need and have begun delivering to schools in Southwark and plan to expand the programme throughout South London and east Surrey with a focus on re-establishing our charitable services in the London borough of Croydon.

Contributions from Volunteers

Our volunteers have always been a key, valued part of the charity. We are grateful for all the prayerful and financial support we receive throughout South London and East Surrey but especially from our Bromley Parish Reps and Friends, Greenwich Friends and supporters in Hampton Deanery who have organised Lent lunches, theatre shows, concerts, carol singing, walks and other fundraising events. Once again we have been able to take advantage of match funding from Morrisons thanks to Christina Clark organising a quiz night in Bromley.

Our Trustees, Friends, and Parish Representatives donated 574 hours of their time to support Welcare during the year. A special thank you to our Chair of Trustees, Chris Elliott, who has visited and spoken at churches both on Sundays and in the evenings. We appreciate his willingness to give up so much of his time and can often tell when Chris has spoken on a Sunday as there is an increase in donations via the website.

Volunteers have continued to help by supporting our playworker to run crèches enabling parents to attend parenting courses and supporting our regular under 5 groups. This help is invaluable, not just in helping set up and tidy up but also role modelling and involving the parents and children in play.

At our Centre in Redhill we are very fortunate to have a husband and wife team who provide regular maintenance and gardening as well as keeping the food bags stocked and ready to go. We are also hoping to reintroduce volunteers to sit alongside staff on reception, welcoming visitors to the building, signing them in and answering the phone.

We were delighted to welcome SES Water to our Family Centre in July. A team of 6 SES employees attended as part of their Give-A-Day scheme (equating to 24 hours of work) and quickly got to work tidying up our garden area, repainting fences and clearing rubbish. They

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

were a joy to have around! They were all so willing, engaging and enthusiastic and just got stuck in.

We are also working on a project with students from East Surrey College to create a new mural for the entry way at our Centre in Redhill. We provided a brief and as part of their course students presented different designs. We choose two designs and the students will now produce the actual artwork.

This August we had another year of success with two Picnics in the Park in Redhill and the summer project in Lambeth. Around 120 families attended the picnics in Redhill and we were assisted by volunteers as well as free activities provided by Raven Housing and SES Water. We also delivered our final Summer Holiday programme in Frederick Crescent with financial support from Sherborne In The Community and support from 3 volunteers.

Financial Review

Income for the year of £934k shows an increase of £3k compared with the previous year’s total of £931k.

Donations amounting to £38k were received from individual supporters (2023: £31k) and £72k from fundraising (2023: £81k). Investment income amounted to £18k (2023: £15k) and rental income of £131k was derived from properties (2023: £126k).

The principal funding sources of the charity were the Diocese of Southwark (South London Church Fund) and Surrey County Council. Grants received during the year over £25,000 include, City Bridge Foundation, the Charity of Sir Richard Whittington, the PTL Foundation and the Netherby Trust. We are also grateful to the following trusts and foundations who generously supported our work, Surrey Community Foundation Richmond Parish Lands Charity, St Faith’s Trust, Barnes Fund and Sherborne in the Community. We were grateful to Richmond Charities for their grant to us to support families in crisis. The charity also receives funding from churches and individuals.

Expenditure in the year was £939k (2023: £941k) including £535k of expenditure from restricted funds (2023: £494k).

The increase in income and decrease in expenditure has resulted in a deficit of £5k before gains on investments (2023: deficit of £10k before gains on investments).

It is the aim of the Charity to maintain a stable operating surplus over the coming years with the aid of strengthened financial processes, reallocation of resources, service reviews and new income streams to ensure that Welcare truly is Here now, Here always to serve the most vulnerable children and their families in South London and East Surrey for generations to come.

Reserves Policy

Reserves as at 31 March 2024 totalled £2,810k (2023: £2,785k) including £14k (2023: £75k) of restricted reserves and £2,498k (2023: £2,476k) of designated funds.

The designated operational fixed asset fund represents fixed assets used in the day to day running of Welcare and are therefore not funds freely available to the charity. The designated fixed asset investment fund represents the value of the investment property and listed securities held as these are held for long-term income generation and are not freely available as liquefiable assets. The designated pension liability fund represents the amounts owed to The Pension’s Trust in respect of the pension deficit and is not part of the operational expenditure of the charity.

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

The Board considers that free reserves (defined as total reserves less designated and restricted funds) should be maintained at an amount equivalent to three to four months of the current year’s expenditure. This gives a minimum level of £245k. The Board considers that the minimum level is adequate to support current and anticipated levels of activity, to enable it to respond to opportunities and to provide for emergencies. The target level of three to four months’ reserves reflects realistic commitments on salaries, rent and other expenditure.

Free reserves are currently £298k (2023: £234k). This is above the target level.

Investment Policy

As at 31 March 2024 fixed asset investments were valued at £2,023k (2023: £2,005k) including £1,750k (2023: £1,750k) of investment properties. There were net gains on investments of £18k in the year (2023: net losses of £11k). A full revaluation of all investment properties took place on 28 April 2021. It is the policy of the Board of Trustees to undertake a formal revaluation of investment properties every five years. The next revaluation will be undertaken in 2026.

The Board of Trustees has adopted socially responsible and ethical investment policies. In practice this is achieved by keeping under review the policies of the charity’s common investment funds which are invested in such a way as to satisfy these policies.

The Board of Trustees holds investment properties. Welcare relies on income from property investments to finance service delivery and to provide a level of protection when grant funding comes to an end. Rental income from the properties is used for the furtherance of the aims and objectives of the charity. These assets provide essential income streams for our service delivery. A new 10 year lease was signed with the existing tenant of one investment property.

Fundraising Policy

Welcare undertakes a variety of fundraising activities to support our strategy of delivering better outcomes for children and families. We are registered with the Fundraising Regulator. We abide by the Fundraising Promise and the Institute of Fundraising Codes of Practice.

We commit to fundraising ethically, responsibly and with our donors in mind. We care about our supporters, what they think about our fundraising and always promise to be transparent, fair and legally compliant. We will always respect the privacy and contact preferences of our donors. We will respond promptly to requests to cease contact or to complaints and act as best we can to address their concerns. Any enquiries regarding fundraising can be directed to fundraising@welcare.org, while complaints should be made in writing to: Welcare Fundraising, 48 Union Street, London, SE1 1TD. We have not received any complaints about our fundraising practices.

We recognise the need to monitor our activities consistently to ensure our fundraising is being conducted to the highest possible standards. We have taken steps to ensure compliance with the General Data Protection Regulation (GDPR) and all staff are required to complete a GDPR e-learning module at least every three years.

Our fundraising strategy is approved by the Board of Trustees. The trustees are responsible for overseeing all aspects of quality assurance and compliance relating to fundraising.

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Principle Risks and Uncertainties

The risk register identifies risks under the following headings, following Charity Commission recommendations:

Each identified risk is assessed in terms of likelihood and impact and then weighted giving a gross risk rating. Actions to minimise each risk are identified and responsibility for monitoring these is given to named individuals. The strength of each risk management strategy is given a numeric rating enabling the net risk to be calculated.

The Board reviews the risk register on at least an annual basis. The trustees’ appetite for risk informs the strategic plan of the organisation. The trustees generally adopt a low risk tolerance.

The Chief Executive is responsible to the Board for the management and implementation of the risk management strategy and reports on the progress towards mitigating each risk.

The CEO is responsible for embedding risk management into the culture of Welcare through:

The management of risk is not an isolated process but is embedded in the management of the organisation and the delivery of Welcare’s services. Several other policies, therefore, deal with risk management and risk assessment e.g. Health and Safety Policy, Safeguarding, Data Protection, Investment Policy etc. All Welcare’s policies are reviewed regularly and updated in line with changes in legislation, regulation and best practice.

Welcare has a business continuity plan which is reviewed annually. All staff are able to work remotely. A sub-committee of the Board, initially established to provide a rapid Board level response to the pandemic, can be reconvened at short notice to address a specific crisis.

Welcare’s income from its regular donors, supporting churches and principal funders remained stable throughout the financial year. The grant from the Diocese of Southwark to Welcare was maintained at the 2022-2023 level during 2023-2024. We remained in receipt of ongoing funding from Richmond Parish Lands Charity, St Faith’s Trust, Barnes Fund, the PTL Foundation, the Charity of Sir Richard Whittington and City Bridge Foundation.

Other specific risks which, if materialised, would have had a significant impact on the charity were identified as:

Category Risk Mitigation
Financial Inability to deliver services and fund projects
due to lack of funding for any reason
including termination of contracts and over-
reliance on particular supporters and
funders.		 •
Develop sustainable
services independent of
local authority contracts
•
Diversify funding streams
and develop new
supporters
•
Promote regular giving
scheme
•
Improve communications
between charity and

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

supporters by producing
regular newsletters
•
Maintain a good local profile
•
Review finances of all
services before making
decisions
•
Monitor budgets offered by
YMCA for Family
Centre/Family Resilience
work
Operational Unanticipated long-term absence of key
member of staff resulting in additional costs
to cover the post or overload on existing
staff required to cover the post; or reduced
output (contact with families).
Failure to recruit and retain professional,
skilled and experienced staff to work in
south London and East Surrey, endangering
service delivery.		 •
Employee Assistance
programme to mitigate
stress and resolve the risk
of long-term sickness
absence
•
Senior staff required to
provide 3 months’ notice
•
Succession business
continuity planning
•
Professional HR advice and
support from WorkNest
•
Emphasise the advantages
of working for Welcare
•
Review salary levels and
role descriptions
•
Review staffing structure
and operational model to
increase resilience to
impact of short- and
medium-term staff changes
•
Ensure all critical systems
have a minimum of 2
staff/trustees trained to use
them
Operational Incident involving child protection or
safeguarding issue involving staff member
or volunteer resulting in harm to the child
and reputational damage.
Holding complex cases which should be
managed by statutory services		 •
Rigorous application and
annual review of
Safeguarding policy
•
Safer recruitment
processes
•
Mandatory safeguarding
training for all staff,
volunteers and trustees
•
DBS checks carried out for
all eligible staff, volunteers
and trustees
•
Robust supervision,
complaints and referral
processes
•
Foster awareness
throughout Welcare of the
duty to report
•
Safeguarding policies
updated to take account of
increased use of
smartphones/IT and staff
working from home

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

•
Good gate-keeping
procedures
•
Escalation of appropriate
cases
•
Escalation Policy
•
Safeguarding/Escalation
report submitted at every
Board meeting
External/Environmental Welcare is required to absorb increased
costs (utilities, HR, supplier contracts etc)
while income remains static resulting in
budget deficits.		 •
Reduce external costs
wherever possible.
•
Move to serviced offices

Structure, Governance and Management

Governing Document

Southwark Diocesan Welcare is a charitable company limited by guarantee. It was established under a Memorandum of Association and is governed under its Articles of Association. Revised Articles of Association were adopted by a special resolution passed at the charity’s AGM on 23 September 2015. The members of the organisation are limited to the trustees for the time being who may serve two terms of three years which, in exceptional circumstances and with the agreement of the Board, can be extended for one additional three-year term. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Trustees

The directors of the company are also the charity trustees. Trustees serve fixed terms of office. The Anglican Bishop of Southwark has the right to nominate up to two trustees. The Bishop’s nominees were Christopher Elliott and Nicola Thomas. Natalie Walters replaced Nicola Thomas during the year.

The trustees do not receive any benefit but may be reimbursed for reasonable expenses properly incurred when acting on behalf of the charity. In 2023-2024 a total of £245.25 (20222023: £218.60) was paid to trustees in reasonable expenses.

An induction process provides new trustees with the detailed information about the charity required for their role. Following an independent review of Board effectiveness in May 2019, the Board has held a number of facilitated planning sessions to inform development of the 20212024 Strategic Plan most recently in November 2023 at which the Board confirmed its strategy to:

Strategic planning is a standard item on each Board agenda. Trustees are encouraged to attend appropriate external training courses, including online safeguarding training for trustees, conferences and forums. All trustees have received Charity Commission guidance on The Essential Trustee and the Charity Governance Code and receive briefings from Welcare’s professional advisers.

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Organisational Structure

Following a review of the governance structure in May 2021, the Board agreed to merge the business of the Finance and Development and Services Committees with that of the Board. Previously, there had been 4 full Board meetings with each committee meeting 3 times a year.

The Board currently has seven members who meet at least six times a year. The Board is responsible for the strategic direction and policy of Welcare. The new structure has enabled enhanced oversight of the charity’s finances alongside management of its strategic delivery objectives.

A sub-committee was established as a rapid response committee of the Board during the pandemic. The sub-committee has delegated authority to conduct business of the Board between the Board meetings and to report to the Board. It can be reinstated when required.

Overall responsibility for the delivery of Welcare’s services lies with the CEO. Welcare is structured into three separate regional service delivery areas each headed by a senior social worker or experienced centre manager. The Head of Practice, Child and Family Support Service Manager and the Family Centre Manager are members of the senior management team. A whole staff training day focussing on Family Law took place in November 2023.

eTapestry, our supporter database has enabled improved communication with donors and supporters and better data collection, management and protection.

Lamplight, our client management system has enhanced our ability to record output and outcomes and to report to funders.

Financial services and the provision of professional HR advice are outsourced to external providers.

Safeguarding Policy

Our safeguarding policy is available on our website and includes recommendations for maintaining safeguarding standards while using digital platforms to deliver individual and group work. The safeguarding policy is reviewed and updated annually by senior managers and then approved by the Board of Trustees. The Head of Practice has responsibility for and oversight of all safeguarding matters within Welcare. A designated Board member holds Board level responsibility for safeguarding.

Relationships

Welcare has worked closely with statutory bodies involved in the delivery of services to children. Until 31 March 2024, Welcare had a 5 year contract with Surrey County Council to provide services at the Redhill Family Centre and delivery of Early Help work in partnership with East Surrey YMCA. Since 1 April 2024, Welcare has provided a Family Centre and Family Resilience service for Surrey County Council as a subcontractor of East Surrey YMCA. Welcare is building future services around local needs and local support. Welcare works within the legislative framework of the Children Acts of 1989 and 2004 and the Children and Families Act 2014. Welcare is in regular contact with other charities serving children and families through active partnership working.

Welcare has a strong relationship with the Church of England and receives a significant annual grant towards its work from the Anglican Diocese of Southwark. Welcare also enjoys close relationships with a number of churches in South London boroughs including the Bromley,

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Beckenham and Orpington deaneries in the Diocese of Rochester and with the Hampton deanery in the Diocese of London where individual church members support Welcare financially, through volunteering and in prayer.

Key Management Personnel Remuneration Policy

The salary of the Chief Executive is set by the Chair in consultation with the Honorary Treasurer following annual appraisals. The organisation uses the NJC pay scales for benchmarking salaries of other staff.

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Statement of Trustees’ Responsibilities

The trustees, who are also directors of Southwark Diocesan Welcare for the purposes of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these accounts the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

As far as we are aware, there is no relevant audit information of which the auditor is unaware. We have taken appropriate steps to identify any relevant audit information and to establish that the auditor is aware of that information.

Auditor

The Board of Trustees appointed TC Group to undertake the audit for the financial year ending in 2024 and will consider the appointment of the auditor for 2024-2025 at the next scheduled Board meeting.

On behalf of the Board of Trustees

Christopher Elliott, Chair 22 July 2024

Southwark Diocesan Welcare is a Charity registered in England & Wales Registered Charity Number: 1107859 Company Number: 5275749

President: The Bishop of Southwark Chair of Trustees: Christopher Elliott Chief Executive: Anna Khan

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SOUTHWARK DIOCESAN WELCARE

Opinion

We have audited the financial statements of Southwark Diocesan Welcare (the ‘charitable company’) for the year ended 31 March 2024. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SOUTHWARK DIOCESAN WELCARE

with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SOUTHWARK DIOCESAN WELCARE

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditorsresponsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SOUTHWARK DIOCESAN WELCARE

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Cummins for and on behalf of TC Group Statutory Auditors Office: Sussex

8 August 2024

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Statement of Financial Activities

(including income and expenditure account) For the year ended 31 March 2024

Note Unrestricted Restricted 2024 2023
funds funds Total Total
INCOME £ £ £ £
Donations and legacies
Individual Giving 37,613 192 37,805 31,127
Other Trading Activities
Fundraising Activities 66,458 5,604 72,062 80,733
Income From Investments
Investment income 18,030 - 18,030 14,583
Rents received 131,380 - 131,380 126,044
Income From Charitable Activities
Child & Family Support Services 193,733 158,071 351,804 350,723
Groups & Workshops 10,800 - 10,800 16,536
Early Help - 30,993 30,993 30,993
Family Centre - 279,177 279,177 278,636
Other income 1,423 55 1,478 1,173
Total income 2 459,437 474,092 933,529 930,548
EXPENDITURE
Expenditure on Raising Funds
Fundraising & Marketing 30,007 - 30,007 48,843
Expenditure on Charitable Activities
Child & Family Support Services 269,945 159,600 429,545 455,853
Groups & Workshops 17,022 - 17,022 30,802
Early Help 15,672 32,064 47,736 33,696
Family Centre 71,403 343,086 414,489 371,822
Total Expenditure 3 404,049 534,750 938,799 941,016
Net income/(expenditure) before
investments gains/(losses) 55,388 (60,658) (5,270) (10,468)
Net (losses)/gains on investments 7 29,798 - 29,798 (15,697)
Net income/(expenditure) after
investments gains 85,186 (60,658) 24,528 (26,165)
Net movement in funds 85,186 (60,658) 24,528 (26,165)
Fund balances brought forward at
1 April 2023 2,710,168 74,922 2,785,090 2,811,255
Funds balances carried forward at
31 March 2024 2,795,354 14,264 2,809,618 2,785,090

There were no recognised gains or losses other than those shown in the Statement of Financial Activities. All income and expenditure derive from continuing activities. The accompanying notes form part of those financial statements. Details of comparative figures by fund are given in note 12.

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Balance Sheet

As at 31 March 2024

Registered company number 05275749

Note 2024 2024 2023 2023
£ £ £ £
Operational Fixed Assets 6 410,433 418,185
Fixed Asset Investments 7 2,022,500 2,004,786
Current assets
Debtors 8 20,796 61,445
Short term investments 145,691 133,607
Cash at bank & in hand 353,602 390,775
Current assets 520,089 585,827
Creditors: amounts falling due within
one year 9 (143,404) (214,370)
Net current assets 376,685 371,457
Creditors: amounts falling due after one 9 - (9,338)
year
Net assets 10 2,809,618 2,785,090
Funds of the Charity
Restricted funds 10 14,264 74,922
Designated funds 10
Operational fixed assets 410,433 418,185
Fixed assets investments 2,022,500 2,004,786
Covid Recovery 75,000 75,000
Pension liability (10,179) (21,791)
General funds 297,600 233,988
Total funds 2,809,618 2,785,090

The financial statements were approved by the Board and authorised for issue on 22 July 2024 and signed on its behalf by:

Christopher Taylor, Honorary Treasurer

Christopher Elliott, Chair

The accompanying notes form part of these financial statements.

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Statement of Cash Flows

For the year ended 31 March 2024

2024 2024 2023 2023
£ £ £ £
Cash flows from operating activities:
Net income for the year 24,528 (26,165)
Adjustments for:
Depreciation charges 10,584 15,667
(Gains)/Losses on revaluation of
investments (29,798) 15,697
Dividends, interest & rents from
investments (149,410) (140,627)
(Increase)/decrease in debtors 40,649 (31,341)
Increase/(decrease) in creditors (80,304) (118,995)
Net cash provided by operating activities (183,751) (285,764)
Cash flows from investing activities:
Purchase of tangible fixed assets (2,832) -
Dividends, interest & rents from
investments 149,410 140,627
Net cash used in investing activities 146,578 140,627
Change in cash and cash equivalents in
the year (37,173) (145,137)
Cash and cash equivalents at
the beginning of the year 390,775 535,912
Cash and cash equivalents at
the end of the year 353,602 390,775
01 April Cash 31 March
2023 flow 2024
£ £ £
Cash at bank and in hand 390,775 (37,173) 353,602

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Notes to the Accounts For the year ended 31 March 2024

1. ACCOUNTING POLICIES

(a) Statutory information

Southwark Diocesan Welcare is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found on the Legal and Administrative Information page.

(b) Basis of Accounting

(i) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard – applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

Southwark Diocesan Welcare meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are produced in sterling, which is the functional currency of the charity. Items are rounded to the nearest £.

(ii) The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment to a period of one year from the date of approval of these financial statements and have considered the impact of the coronavirus pandemic on the charity’s operations. In particular, the trustees have considered the charity’s forecasts and projections and have taken account of pressures on collections and other voluntary income. After making enquiries the trustees have concluded that there are no material uncertainties and there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

(c) Operational Fixed Assets

Depreciation has been provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold buildings 2% of cost p.a. straight line Office furniture and equipment 20% of cost p.a. straight line Computer equipment 33⅓% of cost p.a. straight line

Tangible fixed assets are capitalised if their initial costs are in excess of £1,000.

(d) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Investment properties are included at market value. The Statement of Financial Activities includes the gains and losses arising on revaluation and disposals throughout the year.

(e) Cash Management

Cash not required for day to day operation, but for the medium term, is held in an instant access savings account. Where it is deemed that cash can be held for the longer term this is transferred into the investment portfolio.

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Notes to the Accounts (continued) For the year ended 31 March 2024

1. ACCOUNTING POLICIES (continued)

(f) Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

Judgements made by the trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets and the assumptions used in determining the value of the pension scheme deficit.

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

(g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(h) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(i) Gifts in kind

Gifts in kind are included at the value to the charity where this can be quantified and a third party is bearing the cost. The charity has a policy of accounting for gifts in kind if the value can be quantified as being over £10,000. No amounts are included in the financial statements for services of volunteers.

(j) General funds – unrestricted

These comprise the funds which are available to be used for the general purposes of the charity.

(k) Designated funds – unrestricted

Designated funds are those earmarked by the trustees for specific purposes or projects as noted in the financial statements.

(l) Restricted funds

These funds are held subject to specific trusts declared by the donor or through legal processes as explained in the financial statements.

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Notes to the Accounts (continued) For the year ended 31 March 2024

1. ACCOUNTING POLICIES (continued)

(m) Income

All income including donations, any associated income tax recoveries from donations received under Gift Aid, and legacies are credited to the Statement of Financial Activities in the year in which they arise.

Income is recognised when the charity is considered to be entitled to apply the resource, the amount may be estimated with reasonable accuracy and the likelihood of receipt is considered probable.

Unless the provisions of a given grant or contract specify otherwise, grants are accounted for as restricted income resources and contracts as unrestricted.

(n) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

(o)

Charitable activities

Charitable activities are expenditure incurred in delivering the charity’s activities and services to its beneficiaries.

(p) Fundraising, publicity, communication and events expenditure

Fundraising, publicity, communication and events expenditure consists of expenditure incurred in raising funds together with the cost of communication and of holding events.

(q) Support costs

Support costs include the central office functions such as general management, payroll administration, budgeting and accounting, information technology, human resources, financing and governance costs, and are allocated across the categories of charitable expenditure, governance costs and the costs of raising funds.

(r) Governance

Governance costs are the costs associated with the governance arrangements of the charity which relate to meeting constitutional requirements. Included within this category are costs related to external audit together with an apportionment of overhead and support costs.

(s) Pension costs

Southwark Diocesan Welcare participates in the defined contribution scheme offered by The Pensions Trust. The Pensions Trust is an occupational pension scheme provider for organisations involved in social, educational, charitable, voluntary or similar work. The financial position and the income and expenditure of The Pensions Trust are disclosed in its annual financial statements. Although The Pensions Trust is a defined contribution scheme a shortfall has occurred and each contributor is required to make good their share of the shortfall. The liability is reduced when payments are made to The Pension Trust.

As a result of the transfer of 2 members of staff to the Family Centre under TUPE arrangements, Welcare has obtained admitted body status to the Local Government Pension Scheme (LGPS). Welcare has entered into a side agreement to restrict the charity’s exposure to the LGPS liabilities.

(t) Operating leases

Payments made under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

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Notes to the Accounts (continued)

For the year ended 31 March 2024

2. ANALYSIS OF INCOME

Current year Unrestricted funds Restricted funds Total 2024
£ £ £
Donations
Donations and fundraising 103,071 6,796 109,867
Grants
South London Church Fund 157,772 - 157,772
Surrey County Council:
- Early Help - 30,993 30,993
- Family Centre - 279,177 279,177
Netherby Trust 35,000 - 35,000
The Charity of Sir Richard Whittington - 27,958 27,958
City Bridge - 41,106 41,106
PTL Foundation - 45,833 45,833
Grants of under £20,000 1,961 42,174 44,135
Total Grants 194,733 467,241 661,974
Investment income & rent receivable 149,410 - 149,410
Groups & Workshops 10,800 - 10,800
Other income 1,423 55 1,478
Total income 459,437 474,092 933,529
Prior year Unrestricted funds Restricted funds Total 2023
£ £ £
Donations
Donations and fundraising 111,559 300 111,859
Grants
South London Church Fund 157,772 - 157,772
Surrey County Council:
- Early Help - 30,993 30,993
- Family Centre - 278,636 278,626
Netherby Trust 35,000 - 35,000
The Charity of Sir Richard Whittington - 30,538 30,538
City Bridge - 30,833 30,833
PTL Foundation - 50,000 50,000
Grants of under £20,000 1,440 45,140 46,580
Total Grants 194,212 466,140 660,352
Investment income & rent receivable 140,627 - 140,627
Groups & Workshops 16,536 - 16,536
Other income 1,174 - 1,174
Total income 464,108 466,440 930,548

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Notes to the Accounts (continued)

For the year ended 31 March 2024

3. ANALYSIS OF TOTAL EXPENDITURE

Current year Direct Staff Direct Other Support Costs 2024
Costs Costs Allocated Total
£ £ £ £
Expenditure on Raising Funds
Fundraising & Marketing 13,477 12,052 4,478 30,007
Expenditure on Charitable Activities
Child & Family Support Services 261,215 110,455 57,875 429,545
Groups & Workshops 4,585 11,421 1,016 17,022
Early Help 33,812 6,433 7,491 47,736
Family Centre 284,709 66,703 63,077 414,489
Total Expenditure 597,798 207,064 133,937 938,799
Prior year Direct Staff Direct Other Support Costs 2023
Costs Costs Allocated Total
£ £ £ £
Expenditure on Raising Funds
Fundraising & Marketing 28,121 10,313 10,409 48,843
Expenditure on Charitable Activities
Child & Family Support Services 276,882 107,705 71,266 455,853
Groups & Workshops 23,266 1,548 5,988 30,802
Early Help 21,214 7,022 5,460 33,696
Family Centre 245,835 62,713 63,274 371,822
Total Expenditure 595,318 189,301 156,397 941,016
ANALYSIS OF SUPPORT COSTS ANALYSIS OF SUPPORT COSTS
Support costs can be analysed as follows: Support costs can be analysed as follows:
2024 2023
£ £
Governance
Audit fee 10,500 10,500
Trustee and other meeting costs 245 219
AGM and other - 41
Staff costs allocated to Governance 7,967 7,361
18,712 18,121
Other Support costs 5,929 20,449
Movement in accrued pension liability 15,178 13,982
Staff costs allocated to Support 94,118 103,845
Total support costs **133,937 ** 156,397

Support costs are allocated on the basis of time spent on each activity.

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Notes to the Accounts (continued)

For the year ended 31 March 2024

4. RESULTS FOR THE YEAR

Expenditure includes: 2024 2023
£ £
Auditors’ remuneration: 10,500 10,500
Depreciation 10,584 15,667

5. STAFF COSTS AND NUMBERS

The key management personnel of the charity comprise the trustees and the Chief Executive Officer.

The total amounts paid in respect of the key management personnel of the Charity were £86,932 (2023: £82,601). This includes employers’ national insurance and pension contributions.

Staff costs were as follows: 2024 2023
£ £
Salaries and wages 607,300 624,779
Social Security costs 56,758 50,901
Pension contributions 30,700 29,012
Redundancy 5,125 1,832
699,883 706,524

One employee earned greater than £60,000 during the year (between £70,000 and £80,000) (2023: One).

Pension contributions in the year for this employee amounted to £4,417 (2023: £4,178).

A redundancy payment of £5,125.80 was made in the year (2023: £1,832).

The average number of full-time equivalent employees, analysed by function, was:

2024 2023
No. No.
Fundraising and publicity 0.64 0.84
Charitable activities 15.51 17.36
16.15 18.20

The total number of staff employed at year end was 16 (2023: 22).

No member of the Board of Trustees received remuneration for their services during the year (2023: £nil). One trustee was reimbursed for out of pocket expenses for £245.25 (2023: £219).

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Notes to the Accounts (continued)

For the year ended 31 March 2024

6. OPERATIONAL FIXED ASSETS

6. OPERATIONAL FIXED ASSETS 6. OPERATIONAL FIXED ASSETS
Operational
freehold land and Freehold Property Computer Total
buildings in use Replacements equipment 2024
£ £ £ £
Cost or Valuation
As at 1 April 2023 582,221 - 18,112 600,333
Additions - 2,832 - 2,832
At 31 March 2024 582,221 2,832 18,112 603,165
Accumulated depreciation
As at 1 April 2023 164,036 - 18,112 182,148
Charge for the year 10,513 71 - 10,584
At 31 March 2024 174,549 71 18,112 192,732
Net book value
At 31 March 2024 407,672 2,761 - 410,433
At 31 March 2023
418,185 - - 418,185

All operational fixed assets are used in the charitable activities of the charity. The £29,798 gain on investments in the SOFA is made up of the £17,714 gain in the fixed asset investments, with the remaining gain coming from current assets.

7. FIXED ASSET INVESTMENTS

Investment Other Total Total
properties investments 2024 2023
£ £ £ £
Balance at 1 April 2023 1,750,000 254,786 2,004,786 2,015,562
Gains on revaluation - 17,714 17,714 (10,776)
Balance as at 31 March 2024 1,750,000 272,500 2,022,500 2,004,786

The investment properties were revalued at 31 March 2021 in accordance with the RICS Valuation – Professional Standards 2014 (The Red Book) by William Bradley BSc (Hons) MRICS of Bradley Harris Ltd, Chartered Surveyors, 368 Croydon Road, Beckenham, Kent BR3 4EX. The trustees believe that the commercial property market has remained relatively static over the last 12 months and, therefore, do not consider the investment properties to have materially altered in value over that period. In line with their policy to undertake a formal revaluation of investment properties every five years, the next formal revaluation will take place in March 2026.

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Notes to the Accounts (continued)

For the year ended 31 March 2024

8. DEBTORS

8. DEBTORS
Total Total
2024 2023
£ £
Prepayments 9,173 605
Accrued income 11,623 52,970
Other taxes & social security - 7,870
20,796 61,445
9. CREDITORS
Total Total
2024 2023
£ £
Accounts falling due within one year:
Trade creditors 24,357 7,583
Deferred income and accruals 91,181 183,925
Other taxes & social security 16,312 7,429
Other creditors 1,375 2,980
Pension provision 10,179 12,453
Total Creditors 143,404 214,370
Deferred grant income
Balance brought forward 157,129 219,184
Amount released to grant income (157,129) (219,184)
Amount deferred in the year 6,857 157,129
6,857 157,129
Total Total
2024 2023
Accounts falling due after more than one year: £ £
Pension provision - 9,338
- 9,338

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Notes to the Accounts (continued)

For the year ended 31 March 2024

10. MOVEMENT IN FUNDS

Transfers and
gains/(losses) As at
Balance at on 31 March
Current year 1 April 2023 Income Expenditure investments 2024
£ £ £ £ £
Restricted funds:
East Surrey 74,172 336,691 (396,787) - 14,076
South London - 136,601 (136,601) - -
Central 750 800 (1,362) - 188
Total restricted funds 74,922 474,092 (534,750) - 14,264
Designated funds:
Operational fixed assets fund 418,185 - - (7,752) 410,433
Fixed asset investment fund 2,004,786 - - 17,714 2,022,500
Covid Recovery 75,000 - - - 75,000
Pension liability fund (21,791) - - 11,612 (10,179)
Total unrestricted
designated funds: 2,476,180 - - 21,574 2,497,754
Total unrestricted general
funds: 233,988 459,437 (404,049) 8,224 297,600
Total funds 2,785,090 933,529 (938,799) 29,798 2,809,618
Transfers and
gains/(losses) As at
Balance at on 31 March
Prior year 1 April 2022 Income Expenditure investments 2023
£ £ £ £ £
Restricted funds:
East Surrey 91,458 328,725 (346,011) - 74,172
South London 10,895 134,465 (145,360) - -
Central - 3,250 (2,500) - 750
Total restricted funds 102,353 466,440 (493,871) - 74,922
Designated funds:
Operational fixed assets fund 433,852 - - (15,667) 418,185
Fixed asset investment fund 2,015,562 - - (10,776) 2,004,786
Covid Recovery 93,783 - - (18,783) 75,000
Pension liability fund (34,181) - - 12,390 (21,791)
Total unrestricted
designated funds: 2,509,016 - - (32,836) 2,476,180
Total unrestricted general
funds: 199,886 464,108 (447,145) 17,139 233,988
Total funds 2,811,255 930,548 (941,016) (15,697) 2,785,090

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Notes to the Accounts (continued) For the year ended 31 March 2024

10. MOVEMENT IN FUNDS (continued)

Restricted Funds

East Surrey – these funds represent income from Surrey County Council to provide Early Help, family support and a Family Centre. They also receive some small grants and donations restricted to specific uses.

South London – this fund is represented by a specific grant from the Charity of Sir Richard Whittington to deliver work in schools in Lambeth.

Designated Funds

The operational fixed asset fund represents the net book value of tangible fixed assets used in the day to day running of Welcare and are therefore not funds freely available to the charity.

The fixed asset investment fund represents the value of the investment property and listed securities held as these are held for long term income generation and are not freely available as liquefiable assets.

Welcare has met the needs of its beneficiaries by continuing to offer practical and emotional family support throughout the year. Trustees have focused on securing the future well-being of the charity and the surplus from 2021 was designated to a recovery fund to deliver pilot projects aimed at forging a stronger charity able to withstand a more challenging funding environment in the future. Welcare has rationalised its office accommodation requirements and moved to a flexible way of working whilst co-locating service delivery in schools. During 2022-2023 we completed the rationalisation of our office service delivery accommodation including the location of our Central Office to enable us to work more closely with the Diocese of Southwark and with schools. Our services in southwest London will be delivered from an office base in the Castelnau Community Centre.

The pension liability fund represents the amounts owed to The Pension’s Trust in respect of the pension deficit and is not part of the operational expenditure of the charity.

Transfers in funds represent programmes funded from unrestricted income.

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Notes to the Accounts (continued)

For the year ended 31 March 2024

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Short term
Operational investment Other Net
Fixed and cash at Assets /
Assets Investments bank (Liabilities) Total 2024
£ £ £ £ £
Restricted funds - - 14,264 - 14,264
Unrestricted general
funds - - 485,029 (187,429) 297,600
Unrestricted designated
funds 410,433 2,022,500 - 64,821 2,497,754
Net assets at 31 March
2024 410,433 2,022,500 499,293 (122,608) 2,809,618
PRIOR YEAR ANALYSIS OF NET ASSETS BETWEEN FUNDS PRIOR YEAR ANALYSIS OF NET ASSETS BETWEEN FUNDS
Short term
Operational investment Other Net
Fixed and cash at Assets /
Assets Investments bank (Liabilities) Total 2023
£ £ £ £ £
Restricted funds - - 74,922 - 74,922
Unrestricted general
funds - - 449,460 (215,472) 233,988
Unrestricted designated
funds 418,185 2,004,786 - 53,209 2,476,180
Net assets at 31 March
2023 418,185 2,004,786 **524,382 ** (162,263) 2,785,090

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Notes to the Accounts (continued)

For the year ended 31 March 2024

12. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted 2023
funds funds Total
INCOME £ £ £
Donations and legacies
Individual Giving 30,827 300 31,127
Other Trading Activities
Fundraising Activities 80,733 - 80,733
Income From Investments
Investment income 14,583 - 14,583
Rents received 126,044 - 126,044
Income From Charitable Activities
Child & Family Support Services 194,212 156,511 350,723
Groups & Workshops 16,536 - 16,536
Early Help - 30,993 30,993
Family Centre - 278,636 278,636
Other income 1,173 - 1,173
Total income 464,108 466,440 930,548
EXPENDITURE
Expenditure on Raising Funds
Fundraising & Marketing 48,843 - 48,843
Expenditure on Charitable Activities
Child & Family Support Services 276,842 179,011 455,853
Groups & Workshops 30,802 - 30,802
Early Help 7,207 26,489 33,696
Family Centre 83,451 288,371 371,822
Total Expenditure 447,145 493,871 941,016
Net income (expenditure) before
investments gains 16,963 (27,431) (10,468)
Net gains on investments (15,697) - (15,697)
Net income (expenditure) after
investments gains 1,266 (27,431) (26,165)
Net movement in funds 1,266 (27,431) (26,165)
Fund balances brought forward
at 1 April 2022 2,708,902 102,353 2,811,255
Funds balances carried forward
at 31 March 2023 2,710,168 74,922 2,785,090

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Notes to the Accounts (continued) For the year ended 31 March 2024

13. RELATED PARTIES

During the year Southwark Diocesan Welcare received a grant of £157,772 (2023: £157,772) from Southwark Diocesan Board of Finance. Under the Articles of Association of the charity, the Anglican Bishop of Southwark has the right to nominate up to two Trustees and to approve the appointment of the Chair from among the Trustees. The Bishop’s nominees are Christopher Elliott and Natalie Walters who replaced Nicola Thomas.

Aggregated donations to the charity from trustees during the year amounted to £20 (2023: £20). There have been no other related party transactions and all trustees and key management personnel have signed related party declarations

14. PENSION ARRANGEMENTS

Pensions Trust Growth Plan

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

DEFICIT CONTRIBUTIONS

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

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Notes to the Accounts (continued) For the year ended 31 March 2024

14. PENSION ARRANGEMENTS (continued)

Pensions Trust Growth Plan (continued)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

A pension provision has been included in the accounts of £10,179 in respect of the above liability to the scheme as at 31 March 2024 (2023: £21,791).

15. CAPITAL COMMITMENTS

There were no capital commitments at year end (2023: £nil).

16. OPERATING LEASE COMMITMENT

The charity had total commitments at the period end under operating leases expiring as follows:

follows:
2024 2023
£ £
Less than 1 year 13,490 16,040
1 – 2 years 2,434 15,336
3 – 5 years - 588
Total 15,924 31,964

17. POST BALANCE SHEET EVENTS

There are no post balance sheet events to report.

The trustees recognise that the future impact of the ongoing war in Ukraine is unknown, and that it has already contributed to an increase in the cost of living and energy.

The impact of increased utility costs for the charity will continue to be mitigated by staff working more flexibly from serviced office accommodation.

18. TAXATION

The charitable company is registered as a charity and all of its income falls within the exemption under Part 11 of the Corporation Tax Act 2010.

19. CONTROL

Throughout the year the charity was controlled by its trustees.

20. SHARE CAPITAL

The charity is a company limited by guarantee and has no share capital.

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