OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Registered number: 6388343 Charity number: 1122801

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

THE MATTHEW PROJECT

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustees' report 2 - 11
Independent auditors' report on the financial statements 12 - 15
Statement of financial activities 16
Balance sheet 17 - 18
Statement of cash flows 19
Notes to the financial statements 20 - 40

(A company limited by guarantee)

THE MATTHEW PROJECT

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees Trustees
Stephen Lock,Vice Chair
Neil Lawrence,Treasurer
Elizabeth Wiggins,Chair(appointed 16 November 2020)
Richard Capper(resigned 15 November 2021)
GregoryGibson
Margaret Wade
Lorinea Lain-Rogers
Alison Lamont
Keith James
Jacqueline Higham (resigned 15 November 2021)
Robin Graham Hepburn(appointed 15 November 2021)
Company registered
number
6388343
Charity registered
number
1122801
Registered office
70-80 Oak Street
Norwich
Norfolk
NR3 3AQ
Company secretary
Andy Sexton
Chief executive officer
Andy Sexton
Independent auditors
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwich
NR3 1RB
Bankers
Lloyds Bank Plc
Norwich
NR2 1LZ
Solicitors
Birketts LLP
Kingfisher House
Gilders Way
Norwich
NR3 1UB

Page 1

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the audited financial statements of the company for the year 1 April 2021 to 31 March 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with FRS 102 (effective January 2016) as amended by Updated Bulletin 1 (effective 1 January 2015).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Purposes and aims

For 38 years, the Matthew Project has been supporting children and adults affected by substance misuse in the East of England. Over this time, we have built up a reputation for delivering high quality, effective services, focusing on both prevention, treatment and recovery.

The Charity's objects (the “Objects”) are:

For the benefit of young people and adults in the East of England and elsewhere by:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

a. Main achievements of the company

Over the past year, as we have come through the worst of the Covid-19 pandemic, the Matthew Project’s services have been more important than ever in supporting people affected by substance misuse and mental health issues, primarily across Norfolk. We have supported over 1,600 people through our varied programmes and services, including: offering information and advice, counselling, one-to-one support, and life coaching, on both a one-to-one and group basis, using face-to-face, telephone, and digital channels.

We work alongside our beneficiaries to prevent or reduce substance misuse, build confidence and self-esteem, and help people to reintegrate into everyday life, including, in many cases, supporting them with education and employment. By doing this we benefit vulnerable communities through improved physical and mental health, better relationships with others, and overall better quality of life, along with access to more opportunities. Our achievements over the past year have also helped us in working towards our long-term goals, which include:

Page 2

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

Specific highlights over the year include:

Throughout the year, we’ve also continued to adapt to meet new challenges created by Covid-19, including:

b. Future developments

The current iteration of the Matthew Project’s 3-year strategy comes to an end in November 2022, and so we have entered a strategic planning process involving Trustees, staff, and stakeholders to develop a new 3-year strategy for sign off at the November AGM. We plan that this will coincide with the launch of our refreshed brand.

We are looking to recruit additional Board members to replace the two members who resigned and will be looking for particular skills that can work alongside us to support our high-quality practice and strategic direction. We have identified two new members of the Board who will bring skills in strategy and in clinical support for the team.

We are looking forward this year to building on the partnerships with NSFT, Walking with the Wounded, and Norfolk County Council, to support Veterans, young people with mental well-being challenges, as well as to expand recovery teams to other places in Norfolk.

We are also looking forward to having even greater impact through the development of the Substance Misuse Champions Training and the Unity digital offer for young people affected by the substance misuse of others.

Next Steps has been awarded a grant for an exciting pilot project to work alongside the Norwich Historic Churches Trust to train eight people in recovery with skills in historic building restoration.

The On Track progamme, funded by the European Social Fund and the National Lottery Community Fund, will come to an end in June 2023. This will be an enormous loss for the County of Norfolk as there is no other such provision for NEET young people. So, we will be looking creatively with stakeholders at ways we can continue to provide this service.

Through supporter events and a Black-tie Ball in October, we are looking to continue to increase the Matthew Project’s profile and expand our supporter base.

Page 3

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

c. Our services

The Matthew Project provides a range of services for adults and young people across the East of England. These include:

Young people’s services

Unity

Unity provides vital support for children and young people across Norfolk. Funded by Norfolk County Council’s Public Health department, the service supports under-19s experiencing substance misuse issues, as well as those affected by somebody else’s substance misuse such as a parent, a guardian, or another close family member (affected others).

Throughout what has been a challenging year, Unity staff have continued to provide a high quality of support to young people across Norfolk. Over this period, we have also had a change in leadership of Unity, as well as additional resource to ensure continuation of high-quality data collection.

Over the past 12 months, Unity has supported a total of 526 young people across Norfolk. This includes: 292 affected others; and 234 substance misuse clients.

On Track

On Track is an employability service aimed at enabling disengaged young people across Norfolk into education, training, and employment. The project gives these young people the skills they need for employment, education or training, as well as the self-confidence and belief that they can achieve their goals.

On Track has received funding from the European Social Fund and The National Lottery Community Fund as part of the 2014-2020 European Structural and investment Funds Growth Programme in England. The service brings together five organisations in a unique partnership led by The Matthew Project, working alongside GYROS, NANSA, YMCA Norfolk, and the Prince’s Trust.

The young people we support are affected by multiple barriers to employment. Over the past 12 months, these have included 63% with disabilities and 51% who lack basic skills. Over this period:

Early Intervention Team

The Early Intervention team supports young people with low-level and escalating mental health issues. We offer a preventative service, hoping to prevent young people from needing more specialist support services, resource them, and empower them to obtain help and take control of their own mental health. Early intervention can help to have a lasting and positive effect on young people.

Over the past year, we have seen 91 young people for one-to-one mental health and wellbeing sessions. Generally, we see each young person for 6 sessions.

In addition to this core support:

Page 4

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

Adult services

The Next Steps recovery hub

Established with funding from Public Health England and Norfolk County Council Public Health, along with a wide range of trusts and foundations, companies, and individual donors, the Next Steps recovery hub, based in central Norwich, is Norfolk’s first ever (and only) community recovery hub. The £1m+ centre officially opened in October 2019 following a year’s building and refurbishment work.

Next Steps provides a safe space for those in recovery from addiction to learn new skills, build new friendships, and maintain their recovery. The centre also provides additional support for affected others, veterans, and NEET young people. Despite the difficulties posed by Covid-19, we have not only maintained face-to-face support in all but the first lockdown, but have also grown our service offering. Key to this has been adapting our services from a centre-based model to include outreach over the telephone and digitally, with sessions run over Zoom and community groups meeting virtually through closed social media groups.

The core of Next Steps is the Recovery Support Programme (RSP), a programme of therapeutic and skills support based at the centre. Following participation in the RSP, people are able to access work-ready training and support into paid work or volunteering. Drop-in activities are offered to enable people to further their development of recovery capital and continued connection with a recovery community.

Over the year, Next Steps achieved the following:

Outside the Wire (OTW)

Since its launch in 2013, OTW has been supporting veterans, current serving personnel, and close family members in the East of England (currently covering Norfolk, Suffolk, and Essex). OTW is run by veterans, helping to create more effective, tailored support for those affected by drug/alcohol misuse and/or PTSD.

OTW takes a holistic approach, also focusing on additional issues including homelessness, financial problems, employment, court appearances, and family relationships. OTW is made up of a team of seven staff, working across Norfolk, and Suffolk, and Essex.

Over the past year, Outside the Wire has supported 144 clients. Highlights of the year include:

Key statistics for the year:

Page 5

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

d. Volunteers

We currently have 34 active volunteers, which is double the number from two years ago. These volunteers cover a range of roles, including new roles which have been created since the full opening of Next Steps (e.g. supporting workshop delivery).

Our volunteers come to us from a range of sources, including word of mouth, Voluntary Norfolk, previous beneficiaries, colleges and universities, and other targeted organisations (e.g. counselling trainers and business support groups).

What’s currently working well:

e. Environmental impact

We take a range of measures to ensure that our environmental impact is kept to a minimum. These include:

f. Equality, diversity and inclusion

Individuals with different cultures, perspectives and experiences are at the heart of the way the Matthew Project works. We want to recruit, develop and retain the most talented people. As an organisation we recognise that being a diverse and inclusive employer helps us fulfil our responsibility to make a difference for our clients.

We seek to develop a work environment where we treat all employees as individuals, fairly and in a consistent way. We work within the spirit and the practice of the Equality Act 2010 by promoting a culture of respect and dignity and actively challenging discrimination. We will remove unnecessary barriers for our employees seeking opportunities through training and development, promotion and career planning.

We will continue to support our leaders, managers and employees to demonstrate the principles of diversity and inclusion in their everyday activities, roles and functions.

Page 6

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

a. Financial review

Income for the year was £2,195,507 (2021 - £2,112,258) and of this £2,053,728 (2021 - £1,958,905) came from grants and contract income.

Resources expended for the year amounted to £2,211,031 (2021 - £2,003,079). The operating deficit for the year has arisen due to income being recognised in prior periods, with costs being incurred in this financial year.

The work of the Charity consists mainly of providing advice and support, and this is reflected in staff costs which form approximately 66% of total gross expenditure.

Net movement in funds for the year was a deficit of £15,524 (2021 – surplus of £109,179).

b. Reserves policy

Note 18 shows the movement in all the charity’s funds in the year. An explanation of the nature and purpose of restricted funds is also given.

Restricted Funds

The balance of funds at 1 April 2021 was £1,272,317. Incoming resources for the year totalled £2,057,232 (2021 - £1,964,172). Resources expended totalled £2,068,933 (2021 - £1,836,386). The balance was £1,322,209 on restricted funds at 31 March 2022.

Further detail on individual restricted funds can be found in note 18 of the financial statements.

Unrestricted Funds

The opening balance on the general fund at the beginning of the year was £664,783. Incoming resources totalled £138,275 (2021 - £148,086) and resources expended totalled £142,098 (202 - £164,917) giving a deficit of £3,823 (2021 – deficit of £16,831) for the year. The balance was £599,367 at 31 March 2022.

The Trustees review the reserves policy on an ongoing basis at bi-monthly finance committee meetings. In determining the level of unrestricted reserves required, the Trustees have taken into account:

The target for unrestricted reserves is £503,000 and this compares with unrestricted funds at 31 March 2022 which amounted to £599,367. Excluding £28,697 of fixed assets within unrestricted funds, reserves therefore amounted to £570,670. The Trustees are satisfied that the Charity will have adequate funds available to fulfil its obligations for the year ended 31 March 2022.

Page 7

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

c. Material investments policy

The Trustees have considered the most appropriate policy for investing funds. They have concluded that holding monies in bank treasury deposit and COIF deposit accounts meets the requirements to generate income whilst minimising risk and maintaining liquidity. Investment returns were low as a result of the low Bank of England Base Rate which has increased at 0.1% to 0.5% throughout the year. Given the nature of this investment the Trustees will be reviewing where these funds are held for ease of access and rate of return.

d. Fundraising

Under Section 13 of the Charities (Protection and Social investment) Act 2016, charities that are subject to audit must make specific statements in their annual reports that provide information about their fundraising standards. Accordingly, the Trustees make the following statements in compliance with the requirements of the Act:

The Charity actively promotes and markets its fundraising events and activities; however, it is entirely a voluntary matter for individuals, groups or businesses to decide whether they wish to participate in events or make donations.

e. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 8

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management

a. Constitution

The charity was incorporated as a company limited by guarantee on 2 October 2007, and on 1 April 2008 took over the assets, liabilities, and undertakings of The Matthew Project (an unincorporated charity established by a trust deed dated 9 March 1982).

The charity’s Trustees, who are members of the board of directors, are detailed on page 3.

b. Methods of appointment or election of Trustees

Trustees are elected at the annual general meeting for a term of three years. They are recruited based on skills, experience, and background to contribute to the effective governance of the charity. Trustees are recruited through a variety of means including advertising through websites, responding to interest, and approaching relevant professional and voluntary organisations.

Each Trustee receives an information pack, a role description, and a thorough induction package which involves meeting the Chair of Trustees, the CEO, and members of staff and observing the work of the charity. Trustees are also then enrolled on two online safeguarding courses, one for children and one for vulnerable adults.

Trustees attend regular training and update sessions concerning governance facilitated by local providers. The Matthew Project is grateful to the Trustees for their hard work and commitment.

In the past year Trustees have taken responsibility for specific governance areas based on their particular skills and expertise, including:

Action continues to be taken to recruit Trustees with specialist knowledge and experience of substance misuse and social work; and governance of charitable organisations. The Trustees have also taken action to raise their profile and understanding of the work of the Matthew Project by attending a range of events and visiting teams in their various workplaces.

c. Governance and management

The Trustees are responsible for the overall governance of the charity and its strategic direction and development with the Chief Executive Officer and the senior management team. Aspects of this, including the day-to-day management and development of the charity, are delegated to the CEO and the management team. Trustees have areas of responsibility and a working group method has been adopted to address key tasks and areas of work, which also involves relevant staff members. Regular reports are produced for the Trustees every two months.

Over the past year, the Board has met bi-monthly. At each meeting the Board considers the finances of the Charity and receives a report from the Chief Executive Officer. The Board also operates three sub-committees: the Finance Committee, the Development Committee, and Operational Governance Group. Each of these are attended by at least two Trustees, as well as relevant staff members.

We are undertaking a review of trustee roles and procedures to ensure more effective governance and in doing so are taking into account the recommendations of the governance code.

Page 9

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management (continued)

d. Pay policy for senior staff

The remuneration for senior staff is determined by the Board of Trustees. Remuneration is subject to periodic market reviews and independent evidence and advice is obtained to inform the decision-making process, before any changes are made. Any proposed changes will be recommended to the Board of Trustees for consideration and approval.

In addition, the remuneration for senior staff will be subject to annual review as part of the organisation's evaluation of pay inflation and consequential recommendations to the Board of Trustees to make a pay award, if any.

The Trustees received no remuneration for their time during the year.

e. Risk assessment

The Trustees have, during the year, continued to review the major risks to which the charity is exposed and to establish systems to mitigate those risks identified not already covered by the charity’s existing systems and risk management strategies and controls. This is designed to minimise any potential impact to the Charity and its beneficiaries, should these risks materialise. All potential new services are assessed through a risk management process. This includes a periodical review of the risk register and organisational governance.

f. Public benefit

Under the Charities Act, the Trustees are required to report on the extent to which The Matthew Project has provided public benefit during the year. The Charity Commission guidance recommends that this should be reported by means of: a review of significant activities; details of aims and objectives; strategies adopted and activities undertaken to achieve aims and objectives; and achievements by reference to aims and objectives.

We report on the above four areas in detail in the sections headed ‘our aims and objectives’ and ‘achievements and performance’. The Trustees consider that the operations of The Matthew Project during the year were in accordance with general charitable principles and the charitable purposes set out in the Memorandum and Articles of Association and were wholly for the benefit of the public.

g. Trustees' indemnities

The charity has purchased professional indemnity insurance on behalf of the Trustees.

h. Third party indemnity provisions

The charity has purchased professional indemnity insurance on behalf of the Trustees.

Page 10

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year . Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

Elizabeth Wiggins

(Chair of Trustees) Date: 11/10/22

................................................ Neil Lawrence Treasurer

Page 11

(A company limited by guarantee)

THE MATTHEW PROJECT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT

Opinion

We have audited the financial statements of The Matthew Project (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 charitable 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 Annual report, other than the financial statements and our Auditors' 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 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.

Page 12

(A company limited by guarantee)

THE MATTHEW PROJECT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)

Opinion 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 Trustees' report.

We have nothing to report in respect of the following matters in relation to which 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.

Page 13

(A company limited by guarantee)

THE MATTHEW PROJECT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)

Auditors' 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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Due to the field in which the Charity operates, we identified the following areas as those most likely to have a material impact on the financial statements: healthy and safety; employment laws; GDPR, safeguarding, serious incident reporting and compliance with the UK Companies Act.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 14

THE MATTHEW PROJECT

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)

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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Giles Kerkham FCA (Senior statutory auditor)

for and on behalf of

Larking Gowen LLP Chartered Accountants Statutory Auditors King Street House

15 Upper King Street Norwich NR3 1RB

Date: 31 October 2022

Page 15

THE MATTHEW PROJECT

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net (expenditure)/income
Transfers between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
62,780
23,300
52,128
67
138,275
6,414
135,684
142,098
(3,823)
(61,593)
(65,416)
664,783
(65,416)
599,367		 Restricted
funds
2022
£
10,938
2,030,428
15,866
-
2,057,232
435
2,068,498
2,068,933
(11,701)
61,593
49,892
1,272,317
49,892
1,322,209		 Total
funds
2022
£
73,718
2,053,728
67,994
67
2,195,507
6,849
2,204,182
2,211,031
(15,524)
-
(15,524)
1,937,100
(15,524)
1,921,576		 Total
funds
2021
£
127,678
1,958,905
25,421
254
2,112,258
3,193
1,999,886
2,003,079
109,179
-
109,179
1,827,921
109,179
1,937,100

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 20 to 40 form part of these financial statements.

Page 16

THE MATTHEW PROJECT (A company limited by guarantee) REGISTERED NUMBER: 6388343

BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Provisions for liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 98,244
1,271,486
1,369,730
(428,799)		 2022
£
980,644
1
980,645
940,931
1,921,576
-
1,921,576
1,921,576
1,322,209
599,367
1,921,576		 38,899
1,248,866
1,287,765
(337,973)		 2021
£
1,002,307
1
1,002,308
949,792
1,952,100
(15,000)
1,937,100
1,937,100
1,272,317
664,783
1,937,100

Page 17

THE MATTHEW PROJECT (A company limited by guarantee) REGISTERED NUMBER: 6388343

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Elizabeth Wiggins Neil Lawrence (Chair of Trustees) Treasurer Date: 11/10/2022

The notes on pages 20 to 40 form part of these financial statements.

Page 18

THE MATTHEW PROJECT

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Cash flows from operating activities
Net cash generated in operating activities
Cash flows from investing activities
Interest received
Proceeds from the sale of tangible assets
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 20 to 40 form part of these financial statements		 2022
£
47,947
67
-
(25,394)
(25,327)
-
22,620
1,248,866
1,271,486		 2021
£
326,754
254
683
(36,615)
(35,678)
-
291,076
957,790
1,248,866

Page 19

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. General information

The Matthew Project is a company, limited by guarantee and has no share capital, incorporated in England and Wales, registration number 6388343. The registered office is 70-80 Oak Street, Norwich, Norfolk, NR3 3AQ.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Matthew Project 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.

2.2 Going concern

In approving these accounts, the Trustees have assessed whether the use of going concern is appropriate and whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of The Matthew Project to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of the approval of the financial statements.

The Trustees have assessed the financial uncertainty arising from COVID-19, and have put in place measures to respond to the crisis. They have reviewed the level of liquid assets and funds and the expected income and expenditure for 12 months from authorising these financial statements. Taking particularly into consideration the level of unrestricted reserves and projected cashflows the Trustees conclude that the charity will meet its liabilities as they fall due for the period of assessment. For this reason, the Trustees consider the charity to be financially well positioned and that the financial statements should continue to be prepared on a going concern basis.

2.3 Legal status of the Charity

The Charity is a company by limited guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Page 20

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.4 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Where income has related expenditure (as with fundraising or contract income), the income and related expenditure are reported gross in the Statement of Financial Activities.

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid and tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued income in debtors.

Legacies are included in the Statement of Financial Activities when the charity becomes aware of its entitlement to gift, receipt is probable and the amount can be reliably quantified.

Income from government grants, whether 'capital' grants or 'revenue' grants, are recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amout can be measured reliably and is not deferred.

Income received in advance for a future fundraising event or for a grant received relating to the following year are deferred until the criteria for income recognition has been met.

Interest on deposit funds held is included when receivable and the amount can be measured reliably by the Charity which is normally upon notification of the interest paid or payable by the bank.

Sponsorship from events, fundraising and events registration fee are recognised in income when the event takes place. Trading income is recognised on point of sale for both donated and purchased goods.

2.5 Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings:

All expenditure is inclusive of irrecoverable VAT.

Page 21

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.6 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.7 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Tangible fixed assets and depreciation

All purchased fixed assets are initially recorded at cost. Assets donated for use by the charity are recognised as income when receivable and capitalised at their open market value.

Depreciation is calculate so as to write off the cost of an asset, less its estimated residual value over the useful economic life of that asset.

The estimated useful lives are as follows:

Leasehold improvements - over period of lease
Caravans - 25 % RB
Motor vehicles - 25 % RB
Equipment (fixed) - over period of property lease
Furniture and equipment - 25 % RB
(movable)
Computer equipment - 33 % SL

2.9 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 22

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.12 Creditors

Creditors 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 are normally recognised at their settlement amount after allowing for any discounts due.

2.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.14 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.15 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period of the lease.

2.16 Pensions

Contributions to the charity's defined contribution pension scheme and to the Norfolk Pension Scheme are charged to the profit and loss account in the year in which they become payable.

Page 23

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.17 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgement

No judgements (apart from those involving estimates) have been made in the process of applying the above policies.

The key assumption concerning the future and key sources of estimation uncertainty at the key reporting date that has significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year is:

4. Income from donations and legacies

Unrestricted
funds
2022
£
Donations
50,368
Legacies
6,677
NCC - Covid grant funding
4,000
Coronavirus Job Retention Scheme grant
1,735
62,780		 Restricted
funds
2022
£
10,938
-
-
-
10,938		 Total
funds
2022
£
61,306
6,677
4,000
1,735
73,718

Page 24

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

4. Income from donations and legacies (continued)

Donations
Legacies
NCC - Covid grant funding
Coronavirus Job Retention Scheme Grant		 Unrestricted
funds
2021
£
46,612
183
20,800
34,391
101,986		 Restricted
funds
2021
£
25,692
-
-
-
25,692		 Total
funds
2021
£
72,304
183
20,800
34,391
127,678

5. Income from charitable activities

Unrestricted
funds
2022
£
Young Persons
-
Adult Services
-
Support - Head Office
23,300
23,300
Unrestricted
funds
2021
£
Young Persons
-
Adult Services
12,673
Support - Head Office
7,752
20,425		 Restricted
funds
2022
£
1,356,110
674,318
-
2,030,428
Restricted
funds
2021
£
1,490,250
448,230
-
1,938,480		 Total
funds
2022
£
1,356,110
674,318
23,300
2,053,728
Total
funds
2021
£
1,490,250
460,903
7,752
1,958,905

Page 25

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

6. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2022
Restricted
funds
2022
£
£
Fundraising events
24,826
-
Other trading activities
27,302
15,866
52,128
15,866
Unrestricted
funds
2021
£
Fundraising events
15,684
Other trading activities
9,737
25,421
7.
Investment income
Unrestricted
funds
2022
£
Bank interest
67
Unrestricted
funds
2021
£
Bank interest
254		 Total
funds
2022
£
24,826
43,168
67,994
Total
funds
2021
£
15,684
9,737
25,421
Total
funds
2022
£
67
Total
funds
2021
£
254

Page 26

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2022
£
Young Persons
-
Adult Services
2,161
Support costs
4,253
6,414
Unrestricted
funds
2021
£
Youth Services
-
Adult Services
195
Support costs
2,756
2,951		 Restricted
funds
2022
£
49
386
-
435
Restricted
funds
2021
£
40
202
-
242		 Total
funds
2022
£
49
2,547
4,253
6,849
Total
funds
2021
£
40
397
2,756
3,193

9. Analysis of expenditure by activities

Young Persons
Adult Services		 Activities
undertaken
directly
2022
£
1,350,118
539,698
1,889,816		 Support
costs
2022
£
203,386
110,980
314,366		 Total
funds
2022
£
1,553,504
650,678
2,204,182

Page 27

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Analysis of expenditure by activities (continued)

Young Persons
Adult Services		 Activities
undertaken
directly
2021
£
1,342,523
374,910
1,717,433		 Support
costs
2021
£
206,903
75,550
282,453		 Total
funds
2021
£
1,549,426
450,460
1,999,886

Analysis of direct costs

Staff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal
Staff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal		 Young
Persons
2022
£
1,050,709
212,411
75,420
11,578
1,350,118
Young
Persons
2021
£
1,003,208
225,153
102,768
11,394
1,342,523		 Adult
Services
2022
£
448,601
15,569
41,615
33,913
539,698
Adult
Services
2021
£
291,000
22,187
28,983
32,740
374,910		 Total
funds
2022
£
1,499,310
227,980
117,035
45,491
1,889,816
Total
funds
2021
£
1,294,208
247,340
131,751
44,134
1,717,433

Page 28

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Salaries
Staff costs
Volunteer costs
Training
Vehicle costs
Service costs
Premises costs
Office running costs
Telephone
IT
Finance and legal costs
Audit, consultancy and professional fees
Depreciation		 Young
Persons
2022
£
146,313
1,829
399
2,123
1,347
65
7,251
18,892
3,691
5,974
7,928
6,561
1,013
203,386		 Adult
Services
2022
£
79,839
998
218
1,156
735
35
3,957
10,309
2,014
3,260
4,326
3,580
553
110,980		 Total
funds
2022
£
226,152
2,827
617
3,279
2,082
100
11,208
29,201
5,705
9,234
12,254
10,141
1,566
314,366

Page 29

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Salaries
Staff costs
Volunteer costs
Training
Staff travel
Vehicle costs
Premises costs
Office running costs
Telephone
IT
Finance and legal costs
Audit, consultancy and professional fees
Depreciation		 Young
Persons
2021
£
150,226
3,236
529
1,181
(58)
44
12,452
17,722
4,650
5,079
1,061
9,205
1,576
206,903		 Adult
Services
2021
£
54,855
1,181
193
431
(21)
16
4,547
6,471
1,698
1,855
388
3,361
575
75,550		 Total
funds
2021
£
205,081
4,417
722
1,612
(79)
60
16,999
24,193
6,348
6,934
1,449
12,566
2,151
282,453

Costs are allocated on the basis of the full time equivalent (FTE) of staff allocated to the resource.

10. Auditors' remuneration

2022 2021
£ £
Fees payable to the company's auditor for the audit of the company's
annual accounts 9,100 8,460

Page 30

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

11. Staff costs

Wages and salaries
Social security costs
Pension costs		 2022
£
1,294,951
102,749
70,517
1,468,217		 2021
£
1,160,341
97,101
63,883
1,321,325

During the year redundancy payments of £2,660 (2021: £1,373). These are recognised on the basis set out in accounting policy 2.5.

The average number of persons employed by the company during the year was as follows:

2022 2021
No. No.
Average monthly head count 59 52

No employee received remuneration amounting to more than £60,000 in either year.

The charity considers that the key management personnel comprise the trustees and senior management team. The total employee benefits of key management personnel of the charity were £341,613 (2021: £315,569).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £112) .

Page 31

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Tangible fixed assets

Cost or valuation
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Long-term
leasehold
property
£
958,038
-
-
958,038
30,078
15,607
-
45,685
912,353
927,960		 Motor
vehicles
Fixtures
and fittings
£
£
47,905
114,613
-
-
-
(81,114)
47,905
33,499
30,972
92,670
4,234
8,375
-
(81,114)
35,206
19,931
12,699
13,568
16,933
21,943		 Computer
equipment
£
131,971
25,394
(4,950)
152,415
101,827
17,509
(4,950)
114,386
38,029
30,144		 Caravans
£
41,638
-
-
41,638
36,311
1,332
-
37,643
3,995
5,327		 Total
£
1,294,165
25,394
(86,064)
1,233,495
291,858
47,057
(86,064)
252,851
980,644
1,002,307

Page 32

THE MATTHEW PROJECT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
14.
Fixed asset investments
Cost or valuation
At 1 April 2021
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
See note 27 for further details.
15.
Debtors
Due within one year
Trade debtors
Prepayments and accrued income		 2022
£
26,134
72,110
98,244		 Investments
in
subsidiary
companies
£
1
1
1
1
2021
£
3,215
35,684
38,899

Page 33

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
44,952
1
40,848
750
342,248
428,799		 2021
£
39,501
1
33,049
750
264,672
337,973

Deferred income comprises contract income received in advance for contracts to be performed in future accounting periods.

Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous periods		 2022
£
249,985
317,958
(249,985)
317,958		 2021
£
196,925
249,985
(196,925)
249,985

17. Provisions

At 1 April 2021
Amounts used		 Property
dilapidation
£
15,000
(15,000)
-

Page 34

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. Statement of funds

Statement of funds - current year

Balance at 1
April 2021
£
Unrestricted funds
General Fund
664,783
Restricted funds
On Track
13,773
Unity
89,749
Outside the Wire
92,566
Next Steps
41,889
Next Steps Recovery Hub
927,960
Early Interventions
18,550
Voicebox and vehicles
13,479
Other
74,351
1,272,317
Total of funds
1,937,100		 Income
£
Expenditure
£
138,275
(142,098)
490,512
(547,382)
779,709
(820,793)
306,736
(226,717)
332,593
(296,607)
-
(15,607)
121,893
(111,838)
-
(1,332)
25,789
(48,657)
2,057,232
(2,068,933)
2,195,507
(2,211,031)		 Transfers
in/out
£
(61,593)
59,186
-
1,540
7,291
-
(98)
(861)
(5,465)
61,593
-		 Balance at
31 March
2022
£
599,367
16,089
48,665
174,125
85,166
912,353
28,507
11,286
46,018
1,322,209
1,921,576

Page 35

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. Statement of funds (continued)

General Fund:

The general reserve represents funds of the charity which are provided on an unrestricted basis. It includes, donations, fund raising and surpluses and deficits arising from projects funded from various external sources.

1) On Track is part of the Building Better Opportunities (BBO) programme which is funded by the European Social Fund (ESF) and Big Lottery. The Matthew Project is the lead partner on this project. We were awarded the funding in January 2017 and the project runs to June 2023.

2) The Unity project is funded by the Norfolk County Council Public Health and identifies and works with vulnerable young people affected by substance misuse.

3) Outside the Wire provides advice and support to members and ex-members of the Armed Forces and their families. it is currently funded by the Royal British Legion, the Armed Forces Covenant Fund, and the NHS through the Norfolk and Suffolk Foundation Trust.

4) Next Steps is a centre for people in recovery from substance misuse. The centre programmes also include being part of the Project Adder initiative and the extension in recovery services to Kings Lynn and Great Yarmouth through Universal Funding. It has developed with funding from charitable trusts and Norfolk County Council Public Health.

5) Next Steps Recovey Hub represents funds received to purchase and develop the Recovery Hub Centre on Oak Street Norwich. The funds carried forwards will cover future years depreciation on the building.

6) The Early Intervention project aims to support children and young people with mental well-being issues.

7) One voicebox caravan (and towing vehicle) has been used in work to educate and support young people throughout Norfolk. The balances on the funds will cover future depreciation of these assets, which were originally purchased using restricted funds.

8) The provision of informal advice and outreach to young people in schools and clubs. This is funded from various charitable trusts and purchased by schools.

Fund transfers

During the year the charity made the following funds transfers:

1) A transfer of £1,735 from unrestricted funds to restricted funds in respect of income received under the Coronavirus Job Retention Scheme to correspond to the treatment of salary costs supported by the grant.

2) A transfer of £1,533 from unrestricted funds to restricted funds in respect of completed projects to cover the deficit on the completed projects.

3) A transfer of £59,186 from unrestricted funds to the On Track restricted fund to cover the in year deficit.

4) A transfer of £861 from restricted funds to unrestrcted funds in respect of prior year depreciation charge.

5) A transfer of £5,758 within restricted funds to utilise surplus funds on completed projects on other projects, with prior consent from the original funder.

Page 36

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Fund
Restricted funds
On Track
Unity
Outside the Wire
Next Steps
Next Steps Recovery Hub
Early Interventions
Voicebox and vehicles
Total of funds		 Balance at
1 April 2020
£
758,188
12,312
46,850
46,410
866,831
16,563
15,255
65,512
1,069,733
1,827,921		 Income
£
148,086
528,726
810,601
257,446
197,384
97,786
-
72,229
1,964,172
2,112,258		 Expenditure
£
(164,917)
(527,265)
(767,702)
(211,289)
(186,930)
(84,838)
(1,776)
(58,362)
(1,838,162)
(2,003,079)		 Transfers
in/out
£
(76,574)
-
-
-
92,564
(10,961)
-
(5,029)
76,574
-		 Balance at
31 March
2021
£
664,783
13,773
89,749
92,567
969,849
18,550
13,479
74,350
1,272,317
1,937,100

19. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
28,697
Fixed asset investments
1
Current assets
675,133
Creditors due within one year
(104,464)
Total
599,367		 Restricted
funds
2022
£
951,947
-
694,597
(324,335)
1,322,209		 Total
funds
2022
£
980,644
1
1,369,730
(428,799)
1,921,576

Page 37

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

19. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

20.

Unrestricted
funds
2021
Restricted
funds
2021
£
£
Tangible fixed assets
41,909
960,398
Fixed asset investments
1
-
Current assets
975,846
311,919
Creditors due within one year
(337,973)
-
Provisions for liabilities and charges
(15,000)
-
Total
664,783
1,272,317
Reconciliation of net movement in funds to net cash flow from operating activities
2022
£
Net income/expenditure for the year (as per Statement of Financial Activities)
(15,524)
Adjustments for:
Depreciation charges
47,057
Loss/(profit) on the sale of fixed assets
-
Decrease/(increase) in debtors
(59,345)
Increase in creditors
90,826
Interest received
(67)
Increase/(Decrease) in provisions
(15,000)
Net cash provided by operating activities
47,947		 Total
funds
2021
£
1,002,307
1
1,287,765
(337,973)
(15,000)
1,937,100
2021
£
109,179
46,302
(16)
104,419
52,124
(254)
15,000
326,754

Page 38

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2022
£
1,271,486
1,271,486		 2021
£
1,248,866
1,248,866

22. Analysis of changes in net debt

At 1 April At 31 March
2021 Cash flows 2022
£ £ £
Cash at bank and in hand 1,248,866 22,620 1,271,486

23. Pension commitments

The Charity operates a defined contribution scheme in respect of certain employees of the Charity.

Contributions are charged in the accounts as incurred and totalled £70,517 (2021: £63,883). There were outstanding contributions at the balance sheet date of 31 March 2022 of £7,465 (2021: £6,795).

24. Operating lease commitments

At 31 March 2022 the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2022
£
6,825
25,428
315,330
347,583		 2021
£
8,845
24,576
321,474
354,895

25. Related party transactions

During the year purchases totalling £245 (2021: £245) were made from Margaret Wade, a trustee of The Matthew Project. The services provided were that of psychometric tests. As at 31 March 2022 the charity owed Margaret Wade £Nil (£2021: £245).

Page 39

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

26. Corporate status

The company is a registered charity (No. 1122801) incorporated under the Companies Act and limited by guarantee. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1.

27. Principal subsidiaries

The following was a subsidiary undertaking of the company:

Name Company Principal activity Holding
number
Matthew Project Enterprises Limited 10840324 Dormant 100%
The subsidiary was dormant for the year and its net asset position as at 31 March 2022 was:
Name Net assets
£
Matthew Project Enterprises Limited 1

Page 40