1 **FOR THE YEAR ENDED 31 AUGUST 2023** Company number: 06577534 Registered charity number: 1124127 **1** ## **CONTENTS** **P2 –** INTRODUCTION FROM CHAIR, TERRY DUDDY **P4 –** INTRODUCTION FROM CEO, NAOMI HULSTON **P6 -** HIGHLIGHTS OF THE YEAR **P54 -** FINANCIAL HIGHLIGHTS **P64 -** STRUCTURE, GOVERNANCE AND MANAGEMENT **P74 -** AUDITORS REPORT - **P78 -** CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 **P79 -** CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2023 - **P80 -** CHARITY BALANCE SHEET AS AT 31 AUGUST 2023 - **P81 -** CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 - **P82 -** NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 **P109 -** CATCH22 PEOPLE 2 The breadth and depth of the services and programmes we deliver at Catch22 never fails to impress me. This year, Catch22 colleagues have delivered huge impact: supporting thousands of people to lead better lives, build resilience and fulfil their ambitions. We’ve supported thousands of people furthest from the job market into jobs – with over 60% of those we place into work sustaining that employment beyond six months. We have designed programmes for specific cohorts (such as care experienced young people), and for specific industries (such as energy transition, digital and tech, and the cultural and creative sector). We’ve helped young victims of exploitation, including County Lines, get their lives back on track, and recovered 3 millions of pounds for victims now evolved and broadened of fraud. And, we’ve supported into Good Tech Ventures. young people struggling with This growing community of substance misuse and with entrepreneurs is key to pushing their mental health. the boundaries of what’s possible and what will make Our rehabilitation work with public services the best they those who have left prison is can be for those who need going from strength to strength, them. and we are continually driving innovation through pilots and I am incredibly proud of all pushing for policy change we’ve achieved this year and of where we feel it’s needed. I am incredibly proud of all we’ve achieved this year and of the partnerships we’ve formed with like-minded organisations, partners, and commissioners who see the value in what we do. Most of all I want to say a heartfelt thank you to all Catch22 staff for their ongoing committment and hard work. I hope you enjoy reading this review as much as I did. Our Include Schools all meet the Independent Schools Standards and all of our alternative provision colleges are flourishing – providing vital support for children and young people who struggle in mainstream settings. Our Social Tech Amplifier _**Terry Duddy**_ programme, which provided a _**Chair, Catch22**_ springboard for tech ventures with a focus on supporting employment outcomes for people with barriers, has 4 UW 5 EP TEJI 7 ## **New National County Lines support contract set to support hundreds of young victims** This month we announced our new Home offce contract to support hundreds of victims of exploitation from drug gangs through an expanded County Lines support service. The service operates in four priority locations of the country, where young people are often targeted – London, West Midlands, Merseyside and Greater Manchester. Catch22 is delivering a one-to-one specialist support service for young people under 25 – safely making contact with young people who have been referred by partners, such as police and children’s services, and work with them to exit their involvement in County Lines. Naomi Hulston, CEO, Catch22 8 ## **Our Patron, Princess Anne, awards Digital Edge participants** Participants on our Digital Edge programme – funded by Microsoft – which supports young people facing barriers to work into digital and tech careers, were presented with awards by HRH Princess Anne. The event was a celebration of the programme and the achievements of the young people who’ve participated over the last year. 9 **Reform of youth employment – 1 year on** In September 2021, Catch22 embarked in earnest on its mission to tackle youth unemployment and underemployment – by making it our Reform priority. In the last year, Catch22 employability programmes placed nearly **750 young people** into work and many of those are still in work 6 months on. We’ve expanded many of our programmes, held several Employability Summits on diverse and inclusive workforces and held a roundtable series focussing on the topic of underemployment. Catch22 is also a member of the Youth Employment Group, which now comprises more than 200 organisations working in and around the youth employment space. We rounded off our activity by hosting fringe events at the Conservative and Labour ~~_~~ party conferences in the autumn. **New pay and grading service to support our staff** As part of our commitment to our People, we launched our new pay and grading structure this month. The new structure was introduced in line with our People Strategy ambitions to develop a Catch22 total reward offer that demonstrates that we value our people and that we can use as a lever to retain outstanding talent working across our Catch22 community. The revised pay structure enabled us to provide on an average a 6.5% increase for the majority of our employees and we put aside a £1.4 million investment to achieve this. oc 11 ## **Legal, debt and welfare benefits advice** Community Links’ annual review revealed that we’d helped 1,300 clients with legal, debt, and welfare benefits advice (70% of them were Newham residents) in the previous year. Our youngest client was 18 and the oldest 86. 12 > ## **Restorative Justice takes centre stage** Nottingham Victim staff presented at Restorative Justice event at the Nottingham Justice Museum, speaking alongside the CEO of Nottingham Office of the Police and Crime Commissioner and two victims who they had supported through the Restorative Justice process. Restorative Justice is a central part of our victims’ services, and this year we also hosted a podcast and webinar to discuss its application and value. Catch22 is also setting up a Restorative Practice Forum for staff, to share best practice and understand how it can be applied across different areas of our work. 13 ## **Catch22 Business Strategy** Our new three year business strategy sets out how we will deliver on our mission and vision – framed around our new three strategic operational hubs. The strategy includes a series of guardrails for the organisation, which set the tone for all our organisational leaders to follow for the coming years - providing a sense of freedom to create opportunities for our service users within clear parameters **GUARDRAIL 1** An organisation that delivers demonstrable value and impact for its customers and users **Demonstrated through:** • Robust metrics reflecting total reach and positive outcomes (breadth and depth). • Specialist insights, using national and local benchmarks to evidence impact. • Powerful stories from participants, set in context, that demonstrate the value of our work. **GUARDRAIL 2** An organisation that is financially stable and sustainable; one true to its social value DNA **Demonstrated through:** • Remaining cash positive throughout the business plan period. • Staying firmly within our reserves policy, which is adjusted in line with economic conditions. • Generating a re-investable surplus, focused on strategic enablers. x **GUARDRAIL 3** An organisation that is a great, safe, place to work - as defined by our employee experience **Demonstrated through:** |•|Consistently being ranked and recognised as a leading| |---|---| ||social business to work for| |•|A champion of diversity and social impact| |•|An organisation that is recognised for developing and| ||growing its people as reflected in our employee net| ||promoter score.| xov 15 ## **Catch22’s Tara Ward wins prestigious award for campaigning work for victims** Beacon’s Team Leader Tara Ward won the prestigious Saskia Jones Award at the Criminal Justice Alliance awards. As well as her great work within the Beacon service and being an advocate for Catch22’s work externally, Tara successfully campaigned for a change to the Code of Practice for Victims of Crime. Thanks to her work, now in the case of homicide, wider relations to victims will receive support rather than just immediate family. 16 ## **Social Switch Project Highly Commended at national awards** The Social Switch Project was Highly Commended at the Children and Young People Now Awards in the Workforce Development category. Funded by the Mayor of London’s Violence Reduction and United, and delivered in partnership with RedThread, the programme trains professionals working with young people to spot the signs of online harms. It also works with young people interested in careers in social media to help them fulfil their potential. This month also saw the 1500th participant complete the programme! 17 ## **Catch22 Minutes Podcast** We’re now into our third series of the Catch22Minutes podcast – with our justice series completed this year and our young people and families episodes launching in autumn 2022. The latest series covers topics including children who go missing from home, the criminalisation of children in care and County Lines. EK 19 ## **Salesforce partnership extended to help more people into tech roles.** We extended our partnership with Salesforce to support more young people into digital and tech sectors. The successful Digital Leap programme will now operate in Manchester as well and London. Jamal, Digital Leap participant ## 20 > **#16DaysofAction against Gender-Based Violence** Backed by the United Nations and organisations around the world, 16 days of Action against GenderBased Violence is an annual international campaign which calls for the end of violence against women and girls (VAWG). To mark the campaign, we published a series of blogs ~~;~~ highlighting the different forms VAWG can take, approaches to tackling it and supporting its victims, and exploring how we can keep up the movement’s momentum. 21 ## **Green jobs for all** We completed our Green Jobs For All Forum webinar series, where we explored with employers, job seekers, researchers and policy makers, the market for entry level green jobs and how people can access them. Across the series, we heard from speakers from the Department for Work and Pensions, the Department for Environment, Food and Rural Affairs, PWC, City & Guilds, SUEZ. Our partners at the Green Alliance will be pulling together the key findings and recommendations in a short report next year, as we hope to build programmes to support those furthest from the job market into green jobs. JAN 23 **Social Tech Amplifier onboards 11 ventures** Partnering with Ufi VocTech Trust and Social Tech Trust, we began delivering the Social Tech Amplifier, which, over the year, has supported 11 ventures who are focused on developing and implementing tech solutions to help tackle youth unemployment. The Amplifier helps ventures unlock opportunities in the public sector supply chain and prepare them for scale through venture activity development activities and access to investment. They also receive support from Hatch and Microsoft whose products and expertise give them access to relevant software, guidance and mentorships. _**“We’re thrilled to be part of the Social Tech Amplifier. The Amplifier is the perfect platform to learn from experts such as Microsoft but also gain valuable advice and guidance from Catch22 whilst we develop, test, network and launch our technology into the employment sector.”**_ ' Marina Hoole, Chief Operating Officer at Imployable 24 ## **Catch22 mentoring network programme kicks off** The hugely successful mentoring network saw 12 mentors and 12 mentees from across Catch22 combine to enhance their networks, build confidence and learn from each other’s experiences. The programme includes: - **bi-monthly workshops** for mentees covering a range of topics and guest speakers, - **monthly calls** between a mentee and mentor to discuss development and challenges faced at work, - **an internal placement** within a chosen team, - **a mini project** on a topic which is both of interest to the mentee and benefical to Catch22, - regular **mentee catch-up calls** to provide peer support and work on a project, and - a **two-day** residential. 27 **Apprenticeship provision strengthened through joining Learn Plus Us** Catch22’s award-winning apprenticeship provision joined Learn Plus Us this month – an apprenticeship business which is part of the Angus Knight group. Catch22 and Angus Knight already enjoy a strong relationship as part of their joint venture, Jobs 22. This acquisition further strengthens the link between the two organisations. Last year, our provision was rated a “Good” Grade 2 provider by Ofsted and was recognised in the Rate My Apprenticeship survey as a “Top 20” training ' provider nationally. 28 ## **Treehouse celebrates its first birthday** The Lighthouse Pedagogy Trust’s first home, Treehouse, which is based in Sutton, celebrated its first birthday. The home offers a safe, nurturing, and empowering community in which young people can develop, learn, and thrive. We want young people to be safe, to feel loved and happy with a strong network of relationships, to discover and realise their skills and talents, and have high aspirations for their futures. 29 MA 31 **Child exploitation resource engages hundreds of schools** There have been more than 1,200 downloads of Catch On - an education resource about child exploitation aimed at years 7 and 8 (ages 11-14). The resource contains a suite of options for a single lesson or a series of lessons exploring the topic of grooming and exploitation. There is also a separate handbook for parents and professionals. _**“It was very engaging and really enabled discussion. To be honest, we were a bit shocked at how much some of the kids knew about all this, although some were much less aware. It was definitely stories they could relate to and that encouraged them to reflect on their own experiences.”**_ - Teacher ## 32 > **Recognising our people** Catch22 continued to celebrate and recognise its people with a 4% cost of living increase and continued alignment with the real living wage this year. Our ongoing commitment to our pay and benefits offer has enabled our average salary | to be aligned with ONS benchmarks. **Becoming a sustainable business** Catch22’s commitment to sustainability was bolstered this year with a new Sustainability Coordinator and Sustainability Champions working group. We launched a pilot of Waste & Recycling services at two of our main offices, and have improved signage and bin areas as well as educating staff to waste less and recycle more. As part of this, we have access to live data about our performance, which we will use for environmental reports and behaviour change campaigns. Colleagues can also make use of our Cycle to Work and low emissions Car Salary Sacrifice schemes. AP 35 **Data transformation programme set to revolutionise use of data and analytics across Catch22** Our data transformation The team is onboarding programme will globally recognised revolutionise the use specialist talent to help of data and analytics build a robust, futureacross Catch22. Within proofed data ecosystem, the next two years we enabling Catch22 to be will have reimagined, a truly innovative social redesigned, and rebuilt enterprise. Already our data infrastructure this year, we’ve seen allowing our teams powerful dashboards to have access to created for our hubs and the latest insights corporate services. and intelligence to continuously improve our frontline service ' delivery. 36 ## **Catch22Minutes podcast** This year, we rounded up Series Three of our podcast (focusing on our young people, families and communities work) and launched our policy series. We’ve covered topics including county lines, inequity in safeguarding, short-term prison sentences, AI, and much more! The podcast is proving a popular listen for those in the sector and we’ve welcomed some fantastic guests from organisations including the British Transport Police, the New Economics Foundation, Crest Advisory and Listen Up. 37 ## **Revamped Catch22 website launches** Our website is our window to the world and, this year, we launched a new website that we believe represents what Catch22 is all about; delivering high-quality services and meaningful impact, and driving systemic change. The new site includes: - **better search functionality** including a service locator to allow you to not only see what services Catch22 delivers, but how far away those services are, - **an events hub** , enabling you to sign up for any upcoming Catch22 events – both virtual and inperson – with ease, and - a new **accessibility toolbar** , with functionality including translation, colour and size changes, audio readings and much more. 39 ## **Norfolk Include school celebrates ‘Good’ Ofsted rating** The Ofsted visit to Include Norfolk in May resulted in the school receiving a “Good” rating. The Ofsted inspection report recognised the remarkable progress made by Include Norfolk in recent years, acknowledging the school’s unwavering pursuit of excellence and its positive impact on the educational journey of its students. The “Good” rating affirms the collective dedication of the school’s talented staff, diligent students, supportive parents, and committed provider Catch22. Ofsted report, May 2023 40 ## **InspirEd 2023 and staff awards** Colleagues from across the country came together to attend in-person workshops across the country, learning about the rich variety of services and programmes delivered across the organisation. We also held sessions online, covering a range of topics including data and insights, management, wellbeing, and health and safety. The week formed part of the national Learning at Work Week campaign, and we were “Commended” as part of the Learning at Work Week awards. - Over 50 different members of staff presented and facilitated workshops. - 370 colleagues attended an in-person event. - There were 1,253 online session attendances. The staff awards were a fantastic celebration of the achievements of colleagues across the organisation, with the worthy winners recognised in a ceremony held at Clifford Chance, Canary Wharf. 41 Catch22 colleague ## **Colleagues receive the royal treatment at the King’s Garden Party** To mark the King’s Coronation, Catch22, as a charity with a royal patron, received two tickets to the garden party. Paul Kiggell and Emma Norman attended, alongside a wide range of charity representatives. Ju 43 ## **Justice sector convenes at Catch22 conference** We brought together voluntary sector organisations, Ministry of Justice representatives, probation service colleagues, and practitioners from across Catch22 in our inaugural ‘The role of the third sector in the criminal justice system’ conference. The conference provided a platform to celebrate the sector’s many successes and address its challenges, fostering dialogue, collaboration, and knowledge sharing. Keynote addresses from Anne Fox (CEO of Clinks) and Nina Champion (CEO of the Criminal Justice Alliance), were accompanied by lively panel discussions and insights from expert practitioners and those with lived experience. 44 ## **The future of preemployment support for young people** With the Government announcement that traineeships would no longer be a stand-alone programme, we brought together key players from the employability sector to discuss and debate what makes successful pre-employment support for young people. Featuring speakers from the Learning and Work Institute, West Midlands Combined Authority, and the Department for Education, key asks included: - **a Youth Guarantee** to ensure all young people are able to access a job, apprenticeship, or other education or training programme, - **streamlined access** to training, and - **adequate financial** - **support** for young people embarking on preemployment training. 47 ## **Care experienced young people take to the stage** Members of our Young People’s Benchmarking Forum hosted the “In Their Own Words” event, where they highlighted how key issues have been affecting them and what policy changes they wanted see. They talked passionately about areas including: - the cost of living crisis, - care leaver hubs, - unaccompanied asylum seeking children, - transport, and - care experience as a protected characteristic. The hybrid event was attended by 287 people, representing 87 local authorities and partner organisations. 48 ## **The Social Switch Project continues to partner with Mayor of London’s VRU** Following three years of successful delivery and impact, Catch22 was chosen to continue to deliver The Social Switch Project for a further three years. Supported by our partners Redthread, the programme will support 1,000 young people and train more than 2,000 frontline practitioners by: - upskilling frontline professionals on the opportunities and risks the online world presents to young people, and - providing a pre-employability programme for young people that includes training modules on how to stay safe online. This new iteration of the programme also includes a particular focus on violence against women and girls. Lib Peck, Director of London’s Violence Reduction Unit 49 **Catch22 recognised for county lines expertise** Strategic Director of Young People, Families, and Communities, Kate Wareham, chaired Westminster Insight’s “County Lines Digital Conference”. It was an opportunity to talk about the impact of our national County Lines Support and Rescue service, and learn about best practice examples of multi-agency working – as well as hearing directly from young people who have experienced county lines. Our county lines expertise was also featured in a special report on BBC1’s The One Show this year. AE AU GU, 51 **Thousands of victims in Greater Manchester to benefit from Catch22 support** Following a competitive tender process, Catch22 was awarded the contract to deliver the Greater Manchester Victims’ Service: providing comprehensive and tailored support to individuals affected by crime. The service becomes part of our portfolio of victim services, which includes services in Hertfordshire and Leicestershire, where we successfully won the recommission this year. _**“We are thrilled to have been awarded the contract to deliver Greater Manchester’s Victims’ Services. This opportunity strengthens our dedication to providing comprehensive, compassionate, and empowering support to victims, helping them rebuild their lives in the aftermath of crime, and creating a safer, more united Greater Manchester.”**_ - Andy Canniford, Chief Development Officer, Catch22 52 ## **Community Links report highlights incredible impact** Our place-based support hub in Newham, Community Links, published its latest report highlighting the incredible impact it has across its core areas of work: ## **Community** - The **Community Connectors** programme helped 800 service users suffering from a serious mental illness in Newham. ## **Advice services** - We helped **1,536 clients with legal, debt, and welfare benefits advice.** - We helped clients **generate an income** through additional welfare benefits and addressing their debts to a tune of just over £2 million during the year. ## **Young People** - **23 students** , across two cohorts, took exams in Links Media College. - **100% pass rate** for Music Technology, as well as English Speaking and Listening. - **113 young people completed our peer mentoring programme** in East London schools. - Three quarters of the 100 service users who joined the Community Clicks programme **reported feeling confident in using technology** by the end of their provision. - **Culture Within Newham** is helping residents shape and take ownership of Newham’s cultural possibilities through a series of events and engagements. - We distributed over **8,500 bags of food** to over 3,000 people at our foodbank. ## **Health** - We reached over **70,000 NHS patients** in relation to our cancer screening projects. 53 ## **#DoingThingsDifferently in justice** Across 10 days, we showcased where our Justice services deliver innovative models to support people involved in the criminal justice system. We shared how Catch22’s approach to topics like service design, lived experience, academic partnerships, and more is helping us make a real impact. 54 FINANCIAL HIGHLIGHTS 55 Catch22’s financial performance in 2022/23 was strong, although Restricted Funds fell during the year, this was expected due to expenditure of a significant grant (£2.8m) received in 2021/22 and the commencement of the winding down of the Catch22 Multi Academies Trust Ltd (MAT). Unrestricted Funds increased slightly and the overall strength in the balance sheet has been maintained. Whilst grant income fell, due to the grant received in the previous year, our income from charitable activities increased by 4%, this growth has been driven by high retention rates of existing work and expansion of delivery on existing contracts together with new contracts in Justice and Young People, Families and Communities. Employability and Skills income fell due to the ending of the National Citizen Service contracts, and the transfer of our apprenticeship delivery to Simply One Stop Limited. As we highlighted last year, we were not able to grow our apprenticeship delivery to the scale required in order to deliver the impact we wanted and to ensure its financially sustainability, and therefore concluded that the interests of our apprentices and staff would be better served as part of a specialist learning provider. with increasing complex contracts and service user need. Ensuring our corporate services are both effective and inefficient is a key focus for the next 18 months, as the closure of the MAT is finalised and we plan for the future. Jobs22, our joint venture with the Angus Knight Group, continues to perform well, and the intention to extend the Restart contracts for a further two years has been announced by the Department for Work and Pensions and commercial negotiations are underway. We are continuing to look for opportunities to expand Jobs22’s delivery in the employability and skills market and expect to begin receiving dividend income from 2023/24. The value of our investment portfolio increased during the year, and we remain confident that the investment strategies adopted by our investment managers will deliver the total returns target of the portfolio over the medium to long term. During the year we closed our event management and hire trading company, Community Links Trading Ltd t/a Links Events Solutions, which was significantly impacted by the Covid-19 pandemic and despite the best efforts of its staff and directors a return to profitability could not be achieved. Support costs have increased due to planned investment to both grow and further diversify our income streams and to meet the requirements of our operational teams, who are dealing 56 ## **FUTURE PLANS** We continue to deliver our 3-year business strategy that was launched in September 2023 including one of three key guardrails; that of ensuring that the organisation is ‘financially stable and sustainable; one true to its social value DNA’. Catch22 remains well positioned financially and is meeting the requirements of this guardrail by being cash positive, meeting our Free Reserves policy requirements and generating a reinvestable unrestricted surplus. We continue to work towards to rebrokering all the MAT academies to new trusts and winding-up the company, although the process has been delayed due to continued negotiations between the incoming trusts and the Department for Education and the local authorities. It is now anticipated that the re-brokering process will be complete by late Spring 2024, with the transfer of the remaining three academies. We continue to be committed to the delivery of Education and will look to achieve this through the growth of our independent school provision, starting with the expansion of our delivery in Wales. Due to the closure of the MAT we are likely to see a fall in income over the next couple of years, but we continue to seek to grow the organisation as we continue to believe that scale offers financial protection and allows us to continue to offer a platform to incubate social entrepreneurs and smaller organisations to develop their ideas and secure their future impact. We continue to think there are particularly growth opportunities for the organisation in Education, Justice, a new victim support contract has been secured in 2023/24, the expansion of our children’s home offer and further corporate partnerships focussing on supporting corporate organisations to deliver social value. We also continue to seek mergers and acquisitions with other organisations where they can increase impact and improve financial sustainability. ## **SUMMARY OF FINANCIAL RESULTS** The group’s financial performance for the year to 31 August 2023 is set out in the Statement of Financial Activities. Movements in the Restricted Pension Funds and Restricted Fixed Asset Funds relate to the operations of the Catch22 Multi Academies Trust (MAT). The underlying financial performance of the group is therefore better represented by the movements on Restricted Funds, decrease of £2.9m (2022: increase of £2.1m) and Unrestricted Funds, increase of £0.2m (2022: increase of £4.0m). Restricted Funds, mainly relate to grants received from corporate partners to deliver specific projects which by their nature are subject to variation year-onyear, and the day-to-day operations of the MAT. The operations of the MAT resulted in a decrease in Restricted Funds of £0.9m during the year (2022: £0.2m), due to increased funding pressure in the education sector and additional costs incurred on school improvement. The remaining decrease of £2.0m (2022: increase of £2.3m) relates to expenditure on projects where the funding was received in the previous year. For one project in particular, funding of £2.8m was received during the year ended 31 August 2022, of which over £1.2m was spent during this financial year. 57 The increase in Unrestricted Funds is after net exceptional items expenditure of £0.1m (2022: £nil). The exceptional expenditure related to the disposal of the group’s apprenticeship business during the year. The increase in Unrestricted Funds last year included the sale proceeds of the sale of some shares in Jobs22 amounting to £5.2m. The group’s consolidated balance sheet remains strong, with Restricted Reserves of £3.3m (2022: £6.2m) and Unrestricted Reserves of £15.9m (2022: £15.7m). These reserves continue to provide a solid base for the future of the organisation and the trustees have designated some of these reserves for future projects, the amount of Designated Reserves at the year-end was £1.3m (2022: £1.1m) . The trustees continue to place importance on a strong balance sheet to protect the group from continued inflationary pressure and ongoing economic uncertainty which will inevitably need to pressure on public finances; whilst driving increased demand for our services. paying particular attention to those that consume a disproportionate amount of resources from our support services or require significant additional support to maintain or improve quality. Where it is not financially viable for the group to continue to deliver services, we are proactive in taking measures to restructure them to ensure their future viability, or reluctantly close them where necessary. As a result of actions taken over recent years including the sale of some of the shares in Jobs22, the group’s cash position remains strong with cash at bank and in hand of £7.7m £2022: £9.2m). The fall during the year largely reflects the reduction in Restricted Reserves outlined above. The group is not using any of its overdraft or working capital facilities and during the year the mortgage on its London headquarters was fully repaid. The group continues to take a ‘balanced portfolio’ approach across its diversified income streams, with some services contributing a greater amount to the cost of support services than others. However, we continually review the financial viability of all our services, 58 **Total income for the year to 31 August 2023 was** **compared with** ## **for the previous year.** In the previous year voluntary income included £0.3m of pension liabilities transferred to another academy trust on the re-brokering of the Everitt Academy from the MAT. After adjusting for this ‘one-off’ income amounts, income for the previous year is £54.5m. T **therefore there was a small decrease in income for year ended 31 August 2023 of** 59 Donations, legacies, and grants were 9% of income excluding ‘one-offs’ (2022: 15%). The fall is primarily due to a grant of £2.8m received in the previous financial year for a project which will continue to be delivered through to January 2024. Income from charitable activities rose by 4.6% to £47.8m (2022: £45.7m). The rise is due to new and expanded delivery in our Justice delivery through our Commissioned Rehabilitative Services, and new services in our Young People Families and Communities delivery, primarily related to supporting victims of county lines and a full year of operation of our first children’s home. This is offset by our National Citizen Service contracts coming to end in our Employability and Skills strategic hub and the disposal of our apprenticeship business. Trading income fell to £351k (2022: £517k) due to the planned closure of Community Links Trading during the year. Investments income grew to £404k (2022: £209k) largely as a result of rising interest rates. 60 61 ## **SUPPORT COSTS** Support costs increased by 10% during the year to £5.4m (2022: £4.9m), partly due to inflationary pressure but also some continued strengthening of the support teams and IT infrastructure. Support costs are 10% of income excluding the ‘one-off’ amounts relating to the MAT (2022: 9%). Our business plan sets out that our corporate functions have an important role to play as an ‘integrator’ and that they will play a stronger role in delivering our operational activities going forward. During the year ended 31 August 2024 we have carried out a review, with some external professional support secured through our relationship with The Social Business Trust, of the quality, capacity and structure of our corporate services and plan to introduce a new operating model and new technology enabled ways of working. Our aim is to enhance our support functions to ensure that they efficiently enable Catch22’s operational hubs to excel. ## **NET GAINS/LOSS ON INVESTMENT ASSETS** The net gain on investments during the year was £0.3m (2022: net loss £0.7m) and at 31 August 2023, after withdrawals, the portfolio was valued at £10.9m (2022: £10.6m), in addition, income earned from the portfolio was £0.2m (2022: £0.2m). was executed during the year ended 31 August 2024. The portfolios are diversified both in terms of asset classes and global markets and is invested with a focus on sustainability. ## **INVESTMENTS** All investments were acquired within the Trustees’ powers. The portfolio is held in general funds and is managed in accordance with an Investment Policy, which sets out the objectives of the fund, considers risk and liquidity requirements and sets out how the fund should be managed including the Board’s expectations around ethical and sustainable investment. The objective of the general fund is to provide a regular flow of income to support the daily activity of Catch22 and in addition, to achieve a level of capital growth which will preserve the real value of the fund over time and provide a capital fund for investment in approved development projects within Catch22. Our investment portfolio is managed by firms of professional investment managers. The Trustees consider the performance of those managers and the investment portfolios they manage to be satisfactory and that our underlying investments are sound. The trustees are satisfied with this investment performance, given the context of the performance of global markets. During the year, the trustees decided that to mitigate risk and maximise opportunities that half of the portfolio should be managed by another financial institution, this change 62 ## **RESERVES** The Finance Growth and External Audit Committee, on behalf of the Board of Trustees, conducts an annual review of the level of unrestricted reserves in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. The level of Free Reserves that should be maintained by the organisation is determined by balancing two competing objectives. On the one hand ensuring we have maximum and prompt use of resources to deliver real impact for service users and realise our reform ambitions and, on the other hand, ensuring we have adequate resources to continue to deliver our services through periods of financial challenge and uncertainty, and can be here for our beneficiaries over the medium and long term. The trustees assess the risks that the charity is exposed to on a regular basis and determine a range for Free Reserves considering these risks. The principal risks include: - an unexpected change in the level of our income; - the need to maintain services over the short term if funding streams reduce; - the likelihood of unexpected expenditure; and - working capital requirements. In determining the Free Reserves trustees also consider future plans for Catch22 and the need to protect vulnerable participants staff and volunteers in the unlikely event of unplanned closure of some of its services. Whilst this process cannot come up with a precise figure for Free Reserves, after taking these factors into consideration the trustees believe that the appropriate level for Free Reserves is between £3.7m and £5.9m for the group. Free Reserves are those that are freely available at the trustees’ discretion to help manage financial variability i.e., Unrestricted Reserves excluding fixed assets and bank borrowing secured against those fixed assets. At 31 August 2023 the group’s total reserves amounted to £52.8m (2022: £55.2m) of which £37.0m was restricted (2022: £39.5m) and £15.9m was unrestricted (2022: £15.7m). Of the unrestricted amount trustees have committed £1.3m (2022: £1.1m) over the next 2/3 years to support the delivery of the organisation’s business strategy. These designated reserves will fund projects to support the use of data and analytics to evidence and improve impact; improve the environmental sustainability of the organisation; grow its reach to more participants; develop and capture the social value delivered by the organisation; and ensure the organisation’s support services are fit for purpose. Of the remaining unrestricted reserves £8.9m (2022: £9.0m) is deemed to be Free Reserves. This is above the policy range (£3.7m to £5.9m) set by the trustees, but they continue to consider it prudent, given the current inflationary pressure in the economy, the continuing impact of the cost-of-living crisis on our staff and service users and the impact of current economic uncertainty on future public spending to hold free reserves more than the current maximum amount set out under the reserves policy, whilst they explore further ways to invest the reserves to improve impact, the organisation’s infrastructure and financial sustainability. 63 **FINANCIAL RISKS Liquidity risk** The group’s objective is to maintain a balance between cash balances and long-term investments. The group’s policy on liquidity risk is to ensure there are sufficient cash balances to meet the day-to-day needs of the organisation while investing surplus balances in fixed asset investments. ~~=~~ **Market risk** The group’s exposure to market risk arises primarily from the group’s fixed asset investments. The group’s policy is to utilise the services of professional investment managers to manage the fixed asset investments. Performance of these investments and therefore the investment managers is reviewed every month by the senior management team. The Finance, Growth and External Audit Committee have been appointed by the Board to oversee the performance of our investment managers. — **Credit risk** The group is mainly exposed to credit risk in relation to money due from commissioners in relation to its delivery of services. The vast majority of these commissioners have proved to be extremely credit worthy. Nevertheless, we operate a proactive credit control system designed to ensure payment is received quickly and that problems are identified as early as possible, and the appropriate action is taken. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the balance sheet. **Foreign exchange risk** The group does not have any significant exposure to foreign exchange risk. ## **Other risks** The impact of increasing inflation has been considered on the group’s future plans and budgeting processes, and the potential impact of this coupled with restrictions on future government spending, will continue to be a risk into the year-ending 31 August 2024 and beyond. 64 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **FORMATION AND STRUCTURE OF THE CHARITY** Catch22 was incorporated as a Company Limited by Guarantee on 28 April 2008. It was registered as a charity on 19 May 2008. Its objectives, as stated in its memorandum of association, are: ‘to promote opportunities for the development, education and support of young people in need to lead purposeful, stable and fulfilled lives and to promote safer, crime free communities for the benefit of the public.’ We have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2). In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set, taking account of the available guidance on public benefit. The trustees are satisfied that Catch22 has aims and objectives and carries out activities that are for the public benefit in that the support provided to individuals, families and communities directly benefits each of those groups and therefore the wider public. Catch22 is the sole trustee of The Royal Philanthropic Society incorporating the Rainer Foundation and is the sole member of The Crime Concern Trust Limited. Both are charities. The Rainer Foundation has released its permanent endowment and is now dormant. Crime Concern is also now dormant. **Catch22 holds 100% of the share capital of Catch22 Social Enterprise Limited – dormant.** **Catch22 owns 100% of Pupil Parent Partnership Limited, a company limited by guarantee – dormant.** **Catch22 also owns 100% of Catch22 Social Enterprise Solutions Limited – does not trade but holds 49.49% of the membership of Public Services Lab LLP, a partnership focussed on delivering public service reform in the Liverpool City region.** **Catch22 also owns 100% of Include, a company limited by guarantee - dormant.** **Catch22 also owns 100% of Catch22 Multi Academies Trust Limited, a company limited by guarantee – advances education in the United Kingdom. This is achieved through the operation of alternative provision and specialist schools for those young people either excluded or at risk of exclusion from mainstream provision.** **Catch22 also owns 100% of Community Links Trust Limited, a company limited by guarantee – charitable objectives include providing such information, advice and assistance, as is charitable, to groups and individuals. Currently delivers regulated advice services on behalf of the group.** **Catch22 also owns 100% of Community Links Trading Limited - events management, production services and storage with any profits generated gifted to Catch 22 Charity Limited. Ceased trading in February 2023 and is windingup its affairs.** **Catch22 also owns 100% of Ripplez CIC, a company limited by guarantee – no longer operating, winding-up its affairs.** Please see note 12 for disclosure of activities and performance of each subsidiary. 65 ## **GOVERNANCE** ## **Safeguarding** Catch22 is a diverse and dispersed organisation supporting some very vulnerable service users and we recognise that safeguarding is the responsibility of everyone. We are committed to ensuring that all staff are appropriately trained, including all operational staff receiving NOCN endorsed training, to ensure they are aware of the signs to look for. Catch22 has a dedicated Safeguarding team, responsible for ensuring policies and procedures are in place and offering safeguarding advice and training to services. The Assistant Director of Safeguarding reports into the Chief Officers Group and regularly reports to the Board of Trustees. The role is focussed on continuous improvement of our safeguarding practice. In January 2024 the trustees appoint an Independent Safeguarding Trustee to be a member of the Governance, Risk and Internal Audit Committee, who will provide additional support and advice to trustees regarding safeguarding matters. This role, along with the Assistant Director of Safeguarding and other operational leaders, is a member of our Safeguarding Forum who meet regularly to discuss emerging trends, the effectiveness of our safeguarding practice and to share learning. Each Catch22 service has a DSL (Designated Safeguarding Lead) and a Deputy DSL. These positions have received additional training and, where appropriate, training from their LCSP (Local Children’s Safeguarding Partnership) in order to fulfil these roles. would expect given the nature of our work, primarily made up of disclosures made by the vulnerable young people and adults that we work with. Where appropriate these were escalated to the relevant safeguarding authority. We have an IT platform for safeguarding incident reporting and management to improve communication and reduce the bureaucratic burden, both at the point of reporting and in the administration of monitoring, following-up actions, and trend analysis so that more resources can be focussed on keeping our service users safe. ## **Modern Slavery** Catch22 has a zero-tolerance approach to modern slavery, and we are committed to acting ethically and with integrity in all our business dealings and relationships and to implementing and enforcing effective systems and controls to endeavour to ensure that modern slavery is not taking place anywhere in our own business or in any of our supply chains. We are also committed to ensuring there is transparency in our own business and in our approach to tackling modern slavery throughout our supply chains, consistent with our disclosure obligations under the Modern Slavery Act 2015. We expect the same high standards from all of our contractors, suppliers and other business partners, and as part of our contracting processes, we include specific prohibitions against the use of forced, compulsory or trafficked labour, or anyone held in slavery or servitude, whether adults or children. We also expect that our suppliers will hold their own suppliers to the same high standards. Over this financial year, there were various safeguarding incidents, as we 66 ## **TRUSTEE BOARD AND COMMITTEES** The board of trustees are aware of its duty under Section 172 of the Companies Act 2006 to act in a way they consider, in good faith, would be most likely, as an organisation that exists to deliver public benefit, to promote the success of the charitable group to achieve its charitable purposes, and in doing so have regard (amongst other matters) to: - `a)` the likely consequences of any decision in the long term, - `b)` the interests of the company's employees, - `c)` the need to foster the company's business relationships with suppliers, customers and others, - `d)` the impact of the company's operations on the community and the environment, - `e)` the desirability of the company maintaining a reputation for high standards of business conduct, and - `f)` the need to act fairly between members of the company. On joining the board of trustees, a new trustees will be briefed on their duties, which are partly fulfilled through the governance structure set out below, including the delegation of day-to-day decision making to the Chief Officer Group. Trustees are also provided with the guidance issued by the Charity Commission ‘The essential trustee: what you need to know, what you need to do’ and The Charity Governance Code. All trustees embrace our vision to build a strong society, where everyone has good people around them, a purpose, and a good place to live and promote our organisational values to ensure: **we are compassionate** – we care about people, supporting them to move forward **we empower others** – we give people the knowledge, skills and opportunities to thrive **we are collaborative** – we do things with people, not to them **we are curious** – we explore, innovate and challenge to improve what we do. The trustees consider that they have fulfilled their obligations under Section 172, as evidenced throughout this report. An external governance review took place during the year and whilst the review evidenced strong governance practice is in place, the recommendations for further improvement are currently being implemented and progress is overseen by the Governance, Risk and Internal Audit Committee. ## **GOVERNANCE STRUCTURE** The Trustee board meets six times a year and has established three committees to which certain functions are delegated. These are: the Finance, Growth and External Audit Committee; the Governance, Risk and Internal Audit Committee; and the People and Performance Committee. Each committee meets at least four times a year and reports back to the Trustee Board. The committees monitor progress against goals and targets that flow from the strategic plan set by the Trustee board. Catch22 complies with ‘Good Governance: A Code for the Voluntary and Community Sector’ issued by the 67 Governance Code Steering Group. There is a scheme of delegation in place which sets out what matters are reserved for the trustee board and what is delegated to the chief executive and senior management. Matters reserved for the board include (among others): - Setting the charity’s strategy; - Approval of the organisational business plan and annual budget; - Approval of any changes to the group structure; - Appointment of the chief executive Matters delegated to the chief executive include (among others): - Establishing joint working arrangements; - Development of new services; - Tenders for new contracts (with a value of up to £10m); - Appointment of the executive management team ## **VALUING OUR TRUSTEES – RECRUITMENT, INDUCTION AND ONGOING TRAINING** The People and Performance Committee oversees the recruitment of Trustees and undertakes a periodic skills audit of the Board. Applications for Trusteeship are sought through open advertisement, use of a specialist agencies and personal contacts. Applicants are assessed against a trustee job description and shortlisted candidates are interviewed by a panel of Trustees and appointed by the Trustee Board. Trustees are normally appointed for three years and may be reappointed for a further three years subject to agreement of the Board. A further three-year period is available if it is considered to be in the best interest of Board stability. The chair is also appointed for 3 years. New Trustees are provided with induction meetings with key staff and are given a detailed governance pack. Arrangements are made for Trustees to visit Catch22’s projects and services. Trustees receive information newsletters, presentations on aspects of Catch22’s work and on matters affecting the voluntary sector. Catch22 expects all those involved in its governance to make a reasonable commitment to ongoing development and training. This may involve away days, service visits, presentations and other internal functions as well as opportunities to attend relevant external events such as seminars, courses and conferences. Catch22 also circulates publications of general interest and provides access to magazines, articles, newsletters, policy briefings and other documents of more specialist interest ## **SETTING PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL** Setting Pay and Remuneration of key management personnel is the responsibility of the People and Performance Committee. In setting pay and remuneration, they consider performance management information and relevant benchmarks within the sector. 68 ## **ENGAGEMENT WITH OUR PEOPLE** We recognise that our people, both staff and volunteers, are key to the success of the organisation and to delivering the impact we seek for our beneficiaries. We engage with our people through a variety of channels to keep them informed, seek their views, encourage their involvement and develop common awareness. These channels include, amongst others: - regular service visits by the Chief Officer Group and trustees, - a monthly question & answer session with the Chief Office Group, - an annual staff conference which trustees attend, - a monthly newsletter, supported with information on our intranet, - weekly email communication from the Chief Executive, - an annual staff survey and regular pulse surverys Information gathered by the senior leadership team is fed back to trustees via reports submitted to and discussions held at the People and Performance Committee. ## **BUSINESS RELATIONSHIPS** We recognise that relationships with business stakeholders are key to our success and long-term sustainability. Strong, collaborative relationships with our commissioners and funders enabled us to work with them during the pandemic to find new ways of supporting our beneficiaries and to respond to their changing needs. These relationships are also key to securing ongoing funding. We also seek to engage with the wider sector through professional bodies and interest groups to both seek and share best practice and collaborate on finding solutions to shared challenges. We value all our suppliers and look to identify our key suppliers and put multiyear contracts in place and adopt a partnership approach to the relationship where any concerns are worked through together to find mutually beneficial solutions. We also have several small subcontractor organisations who deliver services on our behalf, and we adopt a supportive approach to contract management and help them to build their capacity. We have also used our platform to incubate several fledging social enterprises focussed on delivering better social outcome and reforming public services. ## **ENVIRONMENT** We recognise the importance of minimising our impact on the environment and that environmental issues are a significant concern for both our people and those we support. In April 2023, we recruited a Sustainability Coordinator as a dedicated resource to develop our environmental strategy. Since then, we have been working with suppliers and internal teams to develop initiatives that can help us minimise our environmental footprint and improve environmental reporting. Some of the initiatives include: - Introducing new processes to improve data quality and quantity to feed into our Carbon Reduction Plan. This will allow us to measure our carbon footprint more accurately and establish a more holistic approach to reducing carbon emissions, 69 - Working with suppliers to improve environmental reporting and align processes towards becoming Net Zero, - Working with Business Development to identify premises improvement funding opportunities, with a focus on sustainability, - Identified and shortlisted software providers to analyse our carbon emissions, for better quality reporting, - Encouraging environmentally friendly behaviours and Sustainable Travel by offering our employees the Cycle to work and Low Emissions Car salary sacrifice schemes. - Establishing a Sustainability Champions network to allow collaboration and raise awareness across different areas of our organisation, - Engaging contractors with high standard environmental credentials to roll out new waste and recycling services at sites where have control of waste collection. This also includes raising awareness and educating our staff to waste less and recycle more through active engagement. ## **Our consumption and emissions for 2022/23 were as follows:** |**ENERGY TYPE**|**CONSUMPTION**|**EMISSIONS**| |---|---|---| |Gas|2,208,621 KWh|404 tCO2e| |Electricity|748,002 KWh|155 tCO2e| |Transport *|836,701 miles|224 tCO2e| |**Total Emissions**||**783 tCO2e**| ## _Intensity ratio per £m/turnover **_ ## **14.6 tCO2e** _*Transport includes employee mileage claims, car hires, long-term vehicles leases and owned vehicles_ _** Turnover excludes MAT land & buildings transferred (2021/22 intensity ratio 11.9 tCO2e)_ Our intensity ratio has increased due to increased use of buildings and more business travel following the transition in ways of working following the Covid-19 pandemic, but we are confident that the measures we are putting in place will reduce both our total emissions and the intensity ratio in the future. 70 ## **TRUSTEES’ RESPONSIBILITIES** In so far as the trustees are aware: - there is no relevant audit information of which the charitable company’s auditor is unaware; and The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. 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 Group and charity and of the surplus or deficit of the Group for that period. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently - make judgements and accounting estimates that are reasonable and prudent Financial statements are published on the Charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charity’s website is the responsibility of the Trustees. The Trustees’ responsibility also extends to the ongoing integrity of the financial - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements - prepare the financial statements on the going concern basis unless it is the ongoing integrity of the financial statements contained therein. - inappropriate to presume that the Charity will continue in operation. - observe the methods and principles in the Charities SORP. 71 ## **RISK MANAGEMENT** The Trustees have in place a robust risk management process, which includes their overall risk appetite and their risk appetite specific to different risk categories. The process identifies the types of risks the charity faces, prioritises them in terms of likelihood of occurrence and potential impact, identifies the means of managing these risks and monitors how they are managed. Development and review of the risk management arrangements are the responsibility of the Governance, Risk and Internal Audit Committee who meet quarterly and review the risk register. The Chief Officer Group are responsible for managing risk across the organisation and receive regular updates from the Head of Governance and Risk at their monthly meetings on key risks, and they ensure that appropriate mitigating action is taken. The internal audit programme is agreed annually with the Governance, Risk and Internal Audit Committee and focuses on the key areas of risk within the organisation. Audit findings and progress on implementing actions is reported quarterly to the committee. The key risks identified by Catch22 at the end of 2023/24, which are largely unchanged from the previous year, together with the actions taken or intended to be taken in response to these risks are as follows: ## **RISK** ## **MITIGATING ACTIONS** **Failure to keep our service users safe.** **Loss of income due to public sector spending cuts because of the macro-economic climate, in addition to rising costs due to inflationary pressure and the need to support staff through the continuing cost-ofliving crisis.** Established policies and procedures with clear training and staff competency expectations embedded throughout the organisation, monitored through regular supervisions and internal audit, overseen by Assistant Director of Safeguarding. Designated safeguarding leads appointed in all our services. Safeguarding incident management systems in place across the organisation Risk Forum established to quickly identify concerns and trends and implement mitigating action and Safeguarding Forum in place to share best practice. Continued focus of resources in our business development and partnerships teams, maintaining our diversified income streams, keeping our quality high to secure repeat business and our costs competitive to ensure that our cost basis is sustainable over the longer-term. We also continue to be focussed on building and maintaining strong commissioner and funder relationships, securing an increased proportion of voluntary grant income and developing income streams from trading activity along with ensuring our support teams are appropriately structured and deliver value for money. Financial performance, future forecasts and our income pipeline is regularly monitored by the Finance, Growth and External Audit Committee. 72 ## **RISK** ## **MITIGATING ACTIONS** |**Loss of control of**|Mitigated by robust data protection and information| |---|---| |**personal or sensitive**|security policies, in line with the General Data Pro-| |**data**|tection Regulation (GDPR), supported by staff brief-| ||ings and compulsory training. We review the risk of a| ||breach of our IT platforms on an ongoing basis and take| ||appropriate mitigating action to keep them secure. We| ||hold Cyber Essentials Plus certifcation and ISO27001:
Information Security Management certifcation for our| ||core central processes and infrastructure, along with| ||our Justice probation contracts. The whole organisa-| ||tion works to the principles of the same Information| ||Security Management System and over time we intend| ||to expand the scope of our ISO27001 certifcation.| |**Failure to ensure the**|Our People team continuing to develop our wellbeing| |**wellbeing and safety**|offer and our policy on staff supervision meetings| |**of staff, particularly**|includes the requirement to discuss staff welfare.| |**those working**|Increased focus on mental health support within the| |**with vulnerable**
**benefciaries.**|organisation. We have a professional health and safety
team in post with embedded health and safety polices| ||and procedures, underpinned by compulsory training| ||for managers and regular health and safety inspec-| ||tions with follow-up of actions. Incident management| ||system in place across the organisation to enable us| ||to react more quickly to incidents, learn lessons and| ||identify trends, which is reviewed by the Risk Forum.| ||An enhanced Employee Assistance Offer has also been| ||rolled out to support any members of staff who have| ||been affected by serious incidents.| |**Serious incident results**|Appropriate policies and procedure are in place to| |**in adverse publicity**|mitigate the risk of a serious incident occurring. Critical| |**leading to reputational**|Incident policy in place and crisis management training| |**damage.**|provided to key staff. Reactive communication strategy| ||prepared.| |**Lack of organisational**|Catch22’s employee value proposition, future of work| |**capacity due to chal-**|approach, and new pay and grading structure all in| |**lenges in recruiting and**|place. Developing progression pathways and succes-| |**retaining staff.**|sion planning. Staff engagement plan in place and| ||being monitored by pulse surveys. New continuous| ||performance management approach on place based on| ||quality conversations. Focus on reducing staff turnover| ||by a working group of senior leaders.| 73 ## **RISK** 7 **Loss of commercially sensitive information through the misuse of Artificial Intelligence (AI) technology.** **Increased likelihood of Local Authorities (LAs) going into section 114 measures (where forecast income is insufficient to meet forecast expenditure) resulting in LA’s looking to exit existing delivery contracts.** ## **MITIGATING ACTIONS** Catch22 have created an AI working group, have updated existing policies and handbooks to advise of correct use of information, including issuing guidance around advocated systems to use – Copilot. Assessment of at-risk Local Authorities within our delivery portfolio to understand and quantify organisational risk. Proactive conversations being had with LA leads on all existing contracts with particular focus on those contracts due to be retendered in the short-term and LAs where section 114 measures are already in place. Further information about Catch2, including our Annual Review can be found at: - www.catch 22.org.uk Signed on behalf of the Board of Trustees on 28 May 2024. Terry Duddy Chair, Catch22 Charity Ltd 74 AUDITOR'S REPORT INDEPENDENT AUDifoR'S REPORT TOIHE MEMBERS Cf CATCH22 LIMITED Oplnlty Ils subsidianes gro￿.) ts Ihe year e￿Ied 31 2￿3 wtrwch Cun￿￿e as consd1d￿ed ierrEni ol Fina￿1>1 *4i¥1l*& aTrJ PareN crwrrt&* Comwny BaLgn¢e Sheets. me CMsOlidat￿ Cash Fliw gatÈmeM tr* fir￿r￿4a1 siaiÈtt*nts. K)Iioes The fin*oal repKNlrwJ IraryYAvrk be￿ wlied n Il*ir werorabDn ts appl¥able law and UThled Kingdom Accountirq siaThlards. indthliw Finanoa Re￿￿r￿j sia*tsd 102 The Finanad ReW￿r￿j Strn(b￿ awii¢aw In Ir* UK ar¥J R*pL*l* trf Itei•kl (unit￿ Gw*raity A¢¢to6d k¢tyJntsng Fra￿￿e1. In ouropir¥tr)thefirorthl statsn*ts" gwe atnE a￿lfar￿ewoIth￿stLIe (*the ataiTS as a 31 ￿9￿$1 2023 and 01 Ihe gtwps rewJr¢ts ar￿ WPli(¥¢lon of res￿￿. IrKIL￿1ry its IrKome aryj elpe￿iture. ende(k have been yowty rwepared In att0[dar￿ um&1 Ger*fally &Lcepted Accounbry PTath(r". ar¥J have been wepwed In a(>)}￿￿￿1￿1he Lrf the coMw￿eSAC12((6 We condu¢td 8￿j11 In vlih 1rder￿(mI¥ $18fAJ•ds ￿ AL#j￿rvj IUKI IISAsiiKII Pl￿b￿ law Ow re¥￿￿bIl￿es ur¥kn Il¥Jse stw¥*rrJs are lurtt*r L*scribed in Ihe A￿JI￿rE Resportsibilflies A)1 a￿￿rt ol tne fir￿n¢jaI stsÈTr*nts sedKfft d wr We are Ir￿Pe￿IeTht of the chantable C(m￿Y In lh8e1h￿# rw4uirerywtstWare r*evw)I lo our a￿lI0ft￿8 statements In tr)e UK. I￿lL￿*r9 Ihe FRCS Einul Slan(Tr¥d. a￿1 we luffil￿d our other etr)i(xl responsibllitye5 In aCLcrfd￿￿lh these rwuirements We thatthe ￿￿[te¥ldertt ￿￿ve oManeAI Is S￿￿lÉ￿ and ¥pnpnatè to wov￿ a CancluiloM r•lalngto eant•m In a￿lI11r￿j Ihe fjtkqncial sialements. ￿ i*ve Inthes af the L*rtem basls of cou￿n9 In tr* prepar*on frflhe fir0￿31 sè*mertsisatv(pria*. 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TtrtlTL6iees8re tesrowtieforlhe (K￿rIn1￿r￿8ti￿ (y)Nairb>J intr*annL￿l repLYt our0pr¥￿ontt*fjrWu45t#er￿￿dQ*srh)tCQYerI￿eo1herl￿Orma1￿jna￿.exCept the e￿ent othervthse expl￿￿￿ siat&l In rerrt ¥Ye do express any lorm ol wIL￿1¢n thereon Our resporwbilityis b re*JTr oTher inforryaiorn arQ. in thifwJ so. w￿￿dervA￿￿r1he Olher Inforrmion Is materialy Iwonsistenl wrth thefir￿al st￿e￿￿$ kr¥)wWge In Ihe course ofthe a￿rt (rtherwise appears io r£ rts4ÈrLqlW ItsMIfy SLth r(*ienai 1run£￿endes or appareni moteri7J misststements. ¥e reqJired lo (jeter￿rE IIEre r& a maten&l misstslement In the nancia str1e￿nts thernseDM M. based on the we perf￿￿. we thdt IhÉYe Is g moieri* ￿l&S￿lert￿l oflhs In(ty￿kn ￿ *e rEq￿r￿j 10 Ihat W$ havè NithifwJ to rÈport In wtd OfFitial 75 AUDITOR'S REPORT l¢ontlnuedl 0plnl0nB￿ oth•rm*t•r* pl￿thd by th• CampAnkiA Act In ow O￿nIon. based ffi the urwJthaken In wutse ￿the *Jthl Irknrrl￿i0n gwen in strWC rep(xt a￿1 the awrtJ&l rep￿ for tr)e fina￿1￿1 y￿r for ￿ttl¢h Ir* fin9rwI aaemtr)ts a¢ pertst&l ts (j)r6$1￿1 wrth the finartial State￿￿t$., ar¥J ￿rategIc trLEtees' retx)rt have prepar￿1 In ￿￿)rtsnce app￿Ic￿le Ic&W reqUIre￿￿ts. IMatt•rs on whleh w4 aw• r•qutr4d to r•portty •xc4pllon In the IKJN of Ihe krthwled￿ ar￿ Ur￿￿1￿dINg gttyjp ¢onyny and rts enwronrnenl oWAined In the c£¥Jryse of Ihe w￿ We matsrol nlsststen￿ts in the strategc report ori1* tr￿￿es. amual rerKrt We hwe nothing lo reFrtKlin resped (*tretdlLwro matt￿5 ￿*￿ethee¢Hr￿rYes Acl wuire5 Usto report 10 If. In wr(pifHOn. parent rvt a￿e￿ts suffi(ietl acc1￿11￿ record& or retyJrnsathquae tty our¥yJrt t*ve wi frtyn ty)I yisrted by L6". or the parentthan1ab￿£ornpèlY s firwK4aIsbW(*rts￿e ￿l￿￿3feememWrth thearLouthro rA(ths r￿￿.. or cerkin d15(knures of Iru5tees' rev4Jr*rth￿n bylaware (x e have nrA rtteiY&I dl the lnbrrh3￿aThd eX[A￿*t rewire forour athllt. Respons￿NItIa$ oltrusts•s As explaitEd Thv)re lully In the trustee5" re5k¥￿IblIit￿ slatwr*rt set 70 the Irustses (who are aLso trE direth(Ys of the cnamaye f(x the pur￿￿ d c(Jmpa)y lawl are restx)nwble for th preparati￿￿ kne linarwl a*TtwlsoTwJ ts Wngs3tlsfied tNrylI￿y9lVea1[ve ￿[1 tsirvyw. aDJfDr5wh Inlernal C￿tr￿ aslhetrustees detefrnine rs ￿S￿Y10 anable trbe offina￿l* slatemenlSl￿t are free from materA n￿%￿er￿En[ dL* iofr8th or err(￿. In preparing the finartkèl Slath￿nts. tr* tr￿lee5 aTe res[Th￿l￿e for asSe￿r￿j Ihe gTOUP ￿Tent ¢hari¢abit (twny's aiMIty Its tsYIDnL* * a t¢t*em. as ¥p￿table, r￿tts r•1￿$d to goiry concern a￿1 usirytheWn9c￿￿rn ba&s unkn the intslees&trer intend to liquldale group crf parènt rtsli$￿tamerrd¥e so. Y•*P￿￿111￿I farth• audltof thelknarwsal ￿1•mIllI1 OJr ¢bitthv*s we 10 Ottyn rtasotobk? a>swatwx tre fin•w * a art free fr￿n material nmsslaemert whthrd￿ lo fraL*I orefft>r. and anaulilors rep(Xithatl￿UleS our op1￿￿ Rea&￿able asslixftt IS a le4el d as￿￿¢. bLA LS nfA A guarantee i￿t an aLthIIt torthcted In ￿dance wth ISA5 IUKI wll *wa)s dei8J a ￿Hl￿al ryyssl*eTnpnl when rt exists MiSs￿ements can anse fr￿rt frahyor ernK and are¢A)￿d￿ed m*rd rf. irrfJiwthA1Y￿ In aggrega￿ tr*y e￿Id ￿￿￿Or￿￿ty èxpéd￿ *) influèncè thè dèa￿(￿* ol L&¥g thè ￿%￿1 af thèsè fina￿la1 stalements. As I￿rt of ￿ aLKIrt In IUKI VR e¥er&%e [Yofe￿*1d JLh*NEm aNI mair*AI profe*s1o￿ s¢epiKismthrwtyJltr¢ •yJh We 4¥0. lthntyfy thè risks of n￿tsrraI of tth fin¥dal ￿te￿&￿s. ¥¥hdhèr due k> fr￿d or error. d￿9n arKY aL¥S1 w(K%thres respDTNve to IMse nsks, and obtsin audit thryder￿ that is 9Jffvenl aFpropriae lo a ba5￿fOr our opini￿. The nsk of ￿ delectirrfj a rywiwal m$s￿MerI1 resLlllry (Tom fraud ts higw Ihan for on sulting fro￿ errry. 85 It¥wJ br￿ve o)IIL*m fwpry. Itlent￿¥ OmL5*0f 76 AUDITOR'S REPORT Icontlwx*dl otrtsn an urthiandrvJ of irtemal wrArd r￿e¥￿t to ￿ athlit in order to de￿gTh athlll Pt¢Éedtyes th* * appr as a conwn. If we condth* ttrAI a m*erial Un￿rta1Thty txlsts. wÈare ID Inour**knrs rerthth thÈ reIaiÈddL4cIDgu￿S In tr finarKo1 or. rf th5(Josurts we ITth4uats. Dur oplnlon. Our condusK)ns are based on the athrt evk12rtt ottsIr￿ LP ￿ the rrf wr auditor's report. wever, È%tnts Qr eoTh*b(rts IS￿￿ or c(Mnpany i cease loc￿1￿ue a5 a c￿￿ern Ewaluale t￿ (werai presentat¢￿. stnNiure a￿1 dthe stalements, IwJLKJirvJ tr￿ dlsdosures. tr* siaiemerts re[￿rt tr* thderlyirvj tr￿saCtiOnS arvj e*nlS In a ￿*￿er11￿¢ atheve> lair Fxewtai suffioerA apwopna* evi￿rtt fir￿•￿1 ithmatM)n a)IllÈS or busness a(*M1￿$ wlhin the gw to e¥pr8ss an on Ihe Co[￿&10*t¢￿ firwcial Staler￿nts We are rewwble fry Ihe dlreCb￿. SUpeTrfj￿on perform￿ ol the wup a￿ll V¥e rem￿￿501￿￿ rew￿LIe and ofthe authl I￿￿r￿j ￿YS￿rI￿￿MdefiC1er￿in r*emal CONrol th8t Wè Idthtfy dunrwJ ExplJTrJltyJn a5 •xl•rrtthe ￿￿*￿ScO￿￿k1•Y8d cJp*lvwate aLKsiev*YÈn(* reg¥ding t assessed ol thJe 10 fraLLL trrowh dEs￿l[￿j Inw*menlifVJ atprtpnate response5 tothose assess&1 fj&4s". to respond4>propri*ty io in￿aT￿ Offr￿ or suspected fra thriw the audl How¢￿r. Ihe rtS[x*￿ibl1ity forthÈ preva￿￿ deittthtsn restswllh M8n&*n￿n¢ ofme cwnatle (xthpany. 0jrapw0￿ Y￿S as ￿llY￿s. We obt3ngd ￿ LfKkthvJing dlhe *al ?TKJ rewwory w￿r￿[ErI5￿pplIC*1e lo Lt￿p￿￿er￿j cO￿￿￿edt￿l mostsynthcaT* are Ihe Corryan￿5 Ad 20￿. Chwilies A 2011. Ihe S(XIP. uK￿￿n￿* rrftyiing Ststhd$8S 1Sg*d bythe Fi￿131 Rw)rting tKil. We obtsned ￿ LThÈTsiaThling cThwany clNnr￿leS￿th these requirer￿Trts by discus51(￿S￿￿h 8t¥J ItKW 97￿r￿p￿Ce. We a&%essed the of rfialend nyssi*emeri crflhe firorual *aleTh*nts. ittI￿￿r¥jt￿ nskof mi￿101¢￿en] dLr1OfraL￿ ￿K1 FKFWrt (wjr. by tK*Jiry thstyJS￿V n￿ageT￿rt ar¥J govemaT ive inqulral rrfrrtanayrrthlaThl thtse chaw *ithgrNemartt as lo any knovm i￿r￿￿nOn. 77 AUDITOR'S REPORT Icontlnued) BagÈdon thls ￿nth￿a￿l￿. wè thsigr*dsptttir￿ appttyriaiÈ a*lii prot￿5￿rta to identlfy Instances of noTrcorrylI￿ wlh rewmions This IndL¥led maknn9 ewtsTres of as requir8J. Tr*￿are Inher*rt Ilmwionsin wtt*dwes We ¥t less Iikaty its becomt aware Ilkslan￿5 ofrth-compIHKewdh kn aid tha Mtdosely loeven6 tr*sathong refltctdd In fir&￿al siatttmèrts. Aso. thÈ nskd a tt*nal mlsststemert d to tra￿ Is higher Ihan lth r￿k eTfof. asfraL¥J may Invdve delibpTrle repyl Is So￿￿t0 I1* r￿n*￿rs. asa in ￿￿x)rdan￿ wrfh Ch*yier 3 of Part 16 of the Comw)ies ALI 2(￿ Our a￿rt ￿)1￿ ha4 r*en so mat we mignt st*e io the chantable o)mpany'5 tnembers tr￿Se nwtlws W￿(* we we req￿re￿ lo st* lo them In an a￿110￿5 report gTrdfor m other puryxjse Toihe fuIWex￿N pern¥iied by we do miaCCept￿ assume resrK)nsibiltyto ¥Try party other th￿ the (y)ryany ￿d thwrt*)Je mettthNs iKwty. for OLT t4Jdil W￿k. Ihs rep¢rt orforlheLyifyoTrsvR havefoir￿j Sthers $&t￿YAL¥l￿lYI forand on behafof Klwcfft Snyth LLP Statutory knitcy 29 May2024 29 May 2024 9 Apptdd Street Lo￿￿ EC2A 2AP 78 The notes on pages 82 to 108 form part of these financial statements.80 - 106 79 The financial statements were approved by the Board of Trustees on 3 April 2024 and authorised for issue on 28 May 2024.29 March 2023. The notes on pages 82 to 108 form part of these financial statements.82 to 108 80 The financial statements were approved by the Board of Trustees on 3 April 2024 and authorised for issue on 28 May 2024. 81 CONSOLIDATED CASH FLOW STATEI*NT FOR THE YEAR ENDED 31 August 20ZJ Y••rtr• JIAu#￿tt•21 £YJty) Ymrfo 11 AutytsI2022 ro ooi (s￿) 724 I￿1 3.10 1.958 01￿￿1e1￿edas*3 Sr￿ Olin￿ltIe 47È t￿￿￿trÈ& 8D2 11£61 18 160 159)} IIDtxe&5eWr¢&gein De￿￿￿¢111Th7e&5e1ln t*bW 1.212 11A02 743 N•l¢•bh lu•*d ihWthithdbyow•broJ ¢aJ2¥ frt)m 531e501th￿ 52 PurthaÈB oFtAw￿le l¥￿tsTaC￿l*d Q6SI 302 F1Th￿rI￿Arth￿ N•1 wh 5.849 J24J J.2 7ts75 7678 Cxh 82 NOTES TO THE FINANCiAL STATEMENTS YeAR ENoeo 31 Augus12023 by th tre tr4rry 11ts1211 T eBs%e3 Ir&￿r4 1*5 IDZI TreCtsT￿ bwèlr éeTh=e.h54*e58nLT" TArcW * Tr• L*ker ij 15ec iTrJJ &&crwi piAov'. fry t Triy b*9 r I￿￿￿5 Ir {EÉ2)n ￿ JI 2tr2¥ £D4m li a￿M￿ce1￿￿e￿￿Te5l￿WC(￿c5 105 2CQ)oThJsfj1 £41 9iY•) 04 Ui.etyik (zts2t £4D IS￿. re". - ar¢ 83 NOTES TO THE F14ANC￿L STATEI*NIS YEAR ENDED 31 August 2023 rÉugn15ecr 04wJlobwsbwg PeTr5vJr&￿e['TPSI ILew*Kle5ari ¥ttk trrYJ21 Tr•LC4% th￿L•s cal• 84 NOTES TO THE FINANCiAL STATEMENTS YeAR ENoeo 31 Augus12023 f??•'Pr.rwy ￿e5rts￿ ￿CesS￿E70C*12￿￿ É1(th1 40ca"31 AL4L51 ￿2)IS￿l0h￿ rjl A¥p¥E2DT2 ￿'￿t41￿5 15 ly*•i ParagTrW I ￿th2o22 11 arnab￿￿￿Se ar br¢5 th￿r&￿5Lb5￿xSne5 r￿trI2 Tr* Ir 11 Ird llrd •Ty¢l*wtytsrs 85 NOTES TO THE F*4ANCiAL STATeA*NTS YEAR ENDED 31 A￿U5*2023 coffi￿al￿e Cornoldated St*mEnt c• FknarKW ACt￿ltb2S lorthe year ended 31 August2022 Ji At¥wE &129 X2 1&4rp 29237 4*744 Jl. 19M7 31.8 714 Tradkno •¢*¥lifj• 31616 (T* larthipthd pm 7741 17rA J71B 242 omwre¢ryrlXtJ9i￿siIM1¢￿ r17T41 Ini Qn4) &r41 e11 140 86 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2023 YwrYrtJl fuTh £'o £'fy)o £'o 1 349 IIM 4.784 S779 22 1x41 248 367 The9￿￿ph￿sb￿¢I￿fr0rn ** *J5*s Tr￿1 Y•¥to J1 AuBuil 2022 RèÈtriGlÈd P*ry4ion FRed￿•￿S PL￿ Fuhd EyJr•J rNo 31 AuBubt 25 262 262 tknr¥ Fund• 1tr21 524 87 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 20fJ 4. InWst￿Trl Incom• Y**S) Y•wto S1 Au9U¥t 2ra2 31 funthk 24 209 156 209 S. N•t In¢om•lorthe ymr Y•wS) Ywrlo 31 31 1023 2022 £.￿0 375 422 oiw¥itye 96 2S Los&onLlsp￿￿ rwty 1,OJ1 45 39 22 20 88 NOTES TO THE FhNANCL4L sTATEP￿Ts YEAR ENDED 31 August 207J CharhalAv acttr A￿￿Y$l$￿1t￿c0n￿￿0￿¢h¥￿JNTrIthtsS1jrtr￿Y*￿wthd 31 A￿￿1202> Y￿rt& JI 2021 cooj 4J21 Jo 3.ts1 13367 Db¢ 13231 ppwle 4.037 Otsr To 16 29Mn 47.774 31 A￿u5t2D22 Yt4r JI Au9U51 2021 rooi Fur 1274 126 1È.64 10.OS4 &b¢• 2203 5213 Tol 1$477 20 267 1S.744 AThdyslsi4•xp•thdhw•on ¢harttabhiathii*s*Kth•bwr•>J•d 31 YDJilD JI AWJÉt ET EWID S￿5 raoi 9A71 21231 1.141 13444 JUS￿t0 11.34B 7.777 11567 JIJ37 oi An8wiSofexp￿￿￿tsl 31 AugL& 2022 JI AWJ*t 2P22 rooo IL751 2189J 697 122 comfflLThtsqs Othw 9JOI 1239 19*47 31.104 724 89 NOTES TO THE FINANCIAL STATE1￿￿Ts YEAR ENDED 31 August 2023 6. Charltabh7 a¢ty¥￿•s Iconynwdl EmKAoyablityard thli¥ 231 LiV•5 i.¢•i 113 21e 492 &ssi Y•* Erthl 31 thffjLÉI2D22 andrhk rr *idA•*•oy TaL•l £blityard ￿47 2Si Edwi* J￿t¢* Offtor SJT $4S Exe*pISon￿ Yekntts Au¥￿t 11 Auyubt uj 11723 2roi rmo Totil 90 NOTes TO ThE FINANCIAL STATEP￿Ts YEAR ENDED 31 A￿9￿1 2023 7. Staff ¢o•ts Yeort Ye¥1 31 31 20 £'o .$$1 Nati￿al 11B2 2.S Trdth Supr Ye4rb 31 A￿Ul1 31 Aupuil 20 £'o(*J E60001-£70.Q(M) g70Q01-£SQQ £90001-£100.fK*I E110.￿l￿120. I1JO ts)14140,f £l60.￿￿￿170.[ ThB &S*thd￿ ople 91 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AuG￿t 2023 & Irrtan4bl• flx•d aMots-Consdld*•d >piwrtsT2022 I SèrAan￿Ér2oz2 Chary4forts y 345 31 A￿￿￿¢202$ 2M 11 A￿U￿12023 212 JI ￿￿*12022 237 237 9. Intan4bl• flx•d •Mots-Chwtyon £'i 1 SoWthr2 A￿l￿On* 425 1 SoWb£r2022 Ch8¢9•Forlw 91 AuW•t202S 2ti JI A￿uSI2023 202 Aljl Awu12022 237 92 The leasehold property at 27 Pear Street, London of £3.4m has been arrived at on a basis of valuation carried out as at 31 August 2019 by JM Commercial, Chartered Surveyors who are not connected with the company. The valuation was reviewed in the year and the Trustees consider that this is the best estimate of the fair value at the balance sheet date. 93 NOTES TO THE FINANCL4L STATEMENTS YEAR ENDED 31 August 2023 Sub•lY Tolil £Tho 31W*2Q Shart olpronl 31￿￿20 475 475 475 I S6ptsn*w￿22 475 475 J1 Au*8t￿) 4T5 4T5 AtJI ALwa￿t202$ AI J1 A￿9￿#2022 11. Irw•slThqrrt kn subsldlJrtBS Jssodi*M-ChJrtty ¢x* Tol11 £Yx)o 31W*2Q Shart oTprofil J1 475 4T5 4T5 475 475 J1 AU￿￿txQ3 4T5 4T5 At31 ￿￿&¢￿2 105 94 NOTES TO THE FINANCiAL STATEMENTS YEAR ENDED 31 AwJu5t 20fJ 11. Invostmonts-Con•olhlat•d 31 AUg￿t 31 Augus1 202$ 20ra ro LLP lo￿58 10.5 10.6#5 1D.434 10.042 42 512 286 l SerrtArtknw2￿2 10695 11.573 5.1 ¥4 pro￿5 116,6Y) 309 1I6•5 JIAL*L•t2021 r*ty5MI $￿-¥U￿ 5Bc-fix￿ Ifp)J 6$ 3.243 34 3.4B9 SBC-C 419 542 offt0r-u￿ISI A6soclat4S LLP Joh22 rom CiitykvJv*u* Shwé ofwprofil 31 A￿qUIt 1025 1ts5 146 91s*rtdo￿1tt￿0[J￿4￿ Is289SAknffy I￿91M￿ 95 NOTES TO THE FINANCiAL STATEMENTS YEAR ENDED 31 AwJu5t 20fJ 11. Inv•stmonts- Chartyr￿ty 31 31 Augus1 202$ 20ra ro 10868 10.5 1DA6 1D.4J4 l Sèththw2(Q2 1DS 11.46È 16.591 5.1 Oiipos¥pToowJ 15*91 m**•tvaI￿ a131 A￿Ul12023 His*nCr￿￿eIJl Auw¥12923 68 31 A￿t￿71 JIA¥￿￿tIr02 C¥wJiMI¢¢• £¥JwJ 50F ro¥J 6.7L* 3.JJ1 $12 7.1¥7 J4 Otsr.Sthd 10 10.5 10.976 12. Sub&ldlarles ThoRtsyal Phllartt•WI¢ Sts>Ay 229Y32 ¢n￿e￿[￿￿T￿j$t 22&99Ya 96 NOTES TO THE FINANCIAL sTATEp￿Ts YEAR ENDED 31 Augu512023 12. Subs￿18￿•& leoMinu•dl lor Jntryi ¢￿ts ror 1646 CtNW3nwthJthr (J61661 catth￿s￿￿1 Lim*U 0487> 02429781 OBOm3 3421e 13.*9 14.473 D82WII 02MYY 145TI w* USTJ?749 1851 0745 111 LW. ￿hS*￿1 121 ?7pUa-Tr￿strWt ECIV 131 Al Co￿￿￿tyL￿k5TTOthW L￿d 97 NOTES TO THE FhNANCL4L STATEl￿Ts YEAR ENDEO 31 August 2023 13. Oobknrn.. amourrt• ¥1 31 22 2.￿7 7È6 1.ts79 3.1 ¢041 2.51D 2.3 14. Cr•dhors: IMJ¢ on• y JI AwJu 2ty23 31 nkl 7m9¢r￿ F.(07 12 Tr￿￿(T￿r￿ 1XS 1.123 98 NOTES TO THE FINANCiAL STAIEMENTS YEAR ENDED 31 August 20fJ 1￿ Credltorl: ￿)Dunt•1￿11ng ¢kK*llhln or*y £'No &290 1$2th)1 &2J2 BIl4n￿￿t31 Au4illt2023-4ldupwMthtyiEypw &232 Charfty rtyjo I S*￿￿3)22 An￿￿1@e￿Ie￿ s.￿5 5.0251 4.947 Bil•nc•4t31 AL¥*#￿3-￿d￿￿hhh7l7MS 4947 JI Awj 212J £'¥Jo 2012 rty)o Obgrl(w 77ts Chvty Dnty 472 $51 sl2o23&%£￿k £11jkl-thFAfi*E￿I2Q22 t9￿ £17klth*knléss 99 NOTES TO THE FINANCIAL sTATEp￿Ts YEAR ENDED 31 Aug1￿1 2023 16. Pml810 31Au9U 17. Reotdthd frJnd• Total fund• lund• fuhd• btl 1S261 .8#7 6.1 21.24S 30881 21.7•5 li￿6￿) 113n Jfjg 35*72 19.54Q 19549) Nth21 ¢4kh22 Lfft 100 NOTES TO THE FhNANCL4L sTATEl￿NTs YEAR ENOED 31 August 2023 17. Re8tdthd frjndfj Iwnilnu•d) Rel1f￿1Pdfvfia$ 1£1 017KL12022 Tf￿a￿sfw•1ry￿W*c￿2IWb bwsl l I&WthIi2CQ2 AkrtrEr1£229kLa022 L*LITBES JD eolwKe•tf Septyth2021 rJTJBI 71 X951 .611 E¥￿￿Ill￿ e41*)G••tJlAugu•l ¥Yts 35 X541 9Di Ep#b￿li O*lwKe*31Augu* aJ2Z Trjnxlo 31 2D2J 13￿7 132 {47ty)1 279 19) Iuow) JI *lli% (8 iJ2 4F97 ,5•> 195 101 NOTES TO THE FINANCIAL STATEMENTS YEAR ENOEO 31 AUgl￿ 2023 17. Rfrstdetsd fund5 (Co￿nU@d) 31*￿￿J$1 20t2 POLO poto 14OT 13 12.VA5 I12.￿1 (8211 5bcE gm 25Z 3445 176 13n Omer aq11 1IV4TI Prfllrywr 20t2 £OLQ 67 rot 13.Wi (2*1 2r41 12n Omer 2S2 *v 176 4¥7A 18. Unr4*iYlthd N¢t 3IAwulli 2J DO 24>5 zJ•J 2r4 37fg1 4S5 11215 TotAI 14JS 47 DMlW*dfu￿j 102 NOTES TO THE FINANCiAL STATEMENTS YEAR ENDED 31 AwJu5t 20fJ 18. 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Events afterthe rtwrtlw d•ts 109 ## **Patron** HRH The Princess Royal ## **Board of Trustees** Terry Duddy, Chairman Caroline Artis, Treasurer Alison Alexander Natasha Finlayson (appointed 27 February 2023) Matthew Halstead Jeff Jacobs Gita North Tove Okunniwa (resigned 29 September 2022) Samantha Olsen (resigned 28 October 2022) Pria Rai Harvey Redgrave (appointed 27 February 2023) Benoit Salama (appointed 1 February 2023) Ufuoma Irene Sobowale (appointed 1 February 2023) Claire Starza-Allen Jonathan Thomas Sean Williams (resigned 15 December 2022) ## **Bankers** Barclays Level 27, 1 Churchill Place London E14 5HP ## **Solicitors** Stone King LLP Boundary House 91 Charterhouse Street Clerkenwell London EC1M 6HR ## **Investment Managers** HSBC Private Bank (UK) Limited 78 St James’s Street London SW1A 1JB ## **Auditors** ## **Chief Executive** Naomi Hulston Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP ## **Company Secretary** Nigel Richards ## **Registered Office** 27 Pear Tree Street London EC1V 3AG 110 **catch-22.org.uk** Catch22 charity limited. Registered charity no. 1124127 Company limited by guarantee. Company no. 06577534