nlcompass toii:ai-ds (l bi-ii, .Iitei- future Report of the Trustees and Financial Statements For the Year Ended 31 March 2025
Contents Chair's Foreword CEO'S Message Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Flnanclal Statements Detailed Statement of Financial Activities 12 13 14 15 16 24
Chair's Foreword It has been my great privilege to serve as Chair of N-compass since 2021, and as a Trustee for the past nine years. This year marks the end of that journey for me. and as I step away in March 2025,1 do so with immense pride in what this organisation continues to achieve. Over the past twelve months, we have delivered the year two objectives set out in our strategic plan while laying the groundwork for the next chapter 2026 and beyond. We have continued to strengthen our position across England, not only delivering outstanding services in our existing areas but also adding new services in new regions. Our ambition remains the same: to support more people to stay well. As always, none of this would be possible without the incredible efforts of our staff and volunteers. Their compassion, resilience and commitment have shaped our reputation and made a real difference in the lives of those we support. I want to thank my fellow Trustees, past and present. Their support and wisdom have shaped every decision and ensured we always held fast to our values. It has also been a joy to work alongside both Teresa Jennings and, more recently, Joanna Solanki - two outstanding Chief Executives whose integrity and passion for this charity run deep. Joanna's leadership continues to take N-compass from strength to strength, and I have no doubt that the journey ahead is an exciting one. As I hand over the reins of Chair to Rachael Mccullough, who has been a valued Trustee since 2022,1 do so with total confi.dence in her ability to lead the Board through the next stage. Rachael brings thoughtful challenge, commitment and a steady hand - exactly what is needed at this point in our story. I will continue to follow N-compasss work with great interest. Warm wishes Cathy
Thank you for taking the time to read our latest annual accounts. 2024 has been a particularly special year for us, as we celebrated 25 years of supporting communities. It has been a moment of pride and reflection an opportunity to recognise how far we have come and to look ahead with clarity and ambition. Over the past twelve months, we have welcomed two significant new services into our portfolio- the Westmorland & Furness Advocacy Hub and the Knowsley Carers Service - our very first Carers Service in Merseyside. These additions not only extend our geographical footprint but also enhance our ability to support more people and communities. dedicated service. Cathy has played an instrumental role in guiding and supporting N-compass through a period of significant growth. I would like to express my sincere thanks to her for her contributions. l am also pleased to welcome our new Chair, Rachael Mccullough. I look forward to working closely with her as we continue to strengthen our organisation and explore new opportunities for positive impact. None of this would be possible without the commitment of our staff, volunteers, funders, and partners. Your continued support allows us to help people regain control, build hope, and find renewed purpose through our Carers, Advocacy, Wellbeing, Counselling, and Volunteering Services. As we head into the final year of our current strategy, we remain ambitious. We are focused on expanding our reach across England and continuing to make a lasting difference to people, places, and communities. We have also taken meaningful steps in innovation. We introduced a new Data Strategy and invested in our IT infrastructure. We have begun to explore how artificial intelligence could help us streamline our systems and give our teams more time to focus on what matters most - supporting the people who rely on us. Supporting our workforce remained a top priority. This year. we completed a full pay benchmarking exercise to ensure we remain competitive within our sector. and we made several improvements to our terms and conditions. Our organisational culture continues to thrive 89% of colleagues say N-compass is a great place to work. and we were proud to be named one of the Top 100 Medium-sized Organisations to Work For by Great Places to Work. across all sectors. We were also finalists in the Employer of the Year category at the Red Rose Awards - proud moment and a tribute to the culture we have built together. Towards the end of the year, we said a fond farewell to our Chair, Cathy, who stepped down after an incredible nine arS of I hope this year's annual accounts - along with our - demonstrate nt not only the outcomes and impact of our work over the past year, but also our wider commitment to the communities we serve through our pledges in education, employment, the economy and the environment. Warm regards, Joanna Solanki Chief Executive Officer
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the h"nancial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting ty Charitie& Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102) (effective l January 2019). Despite the difticult environment in which we operate. with higher inflation and m8ny fixed price contr8Cts, we delivered a Net Income of £4,707 in 2024-25, which, when adjusted for the one-off use of Designated funds ol £44.963 invested in improvement to IT infrastructure and Data Str8tegy. gave rise to 8 surplus in the ye8r of £49,67Q are confident in the future. and expect to grow by a lurther £700.000 in 2025-2026 8s we se8 the full ar bmpact of the n4 service5 Secured in 2024-2025 OBJECTIVES AND ACTIVITIES Reserves Polic Volunteers The Board of Trustee5 conduct an annual review of the level ol both unrestricted and restricted serveS by considering risks associated with the various incoming resources and expenditure plans for the next ar. In Jdition, the Audit sub-committee review5 all reservès on an on-going basis and informs the board ol Bny exceptional items. Under the requiremenis ol Charity Law, the Trustees are obliged to define the Charitys policy for holding reserves. The intention in establishing this reserves policy for N-compass is to secure continuation of its activities. Th• poll¢y wlll: Preserve the viability of the Charity 2. In doing so, underwrite existing services against periods of deticit 3. Enable the Charity to meet it's legal objectives 4. Provide eonh"dence to supporters and donors seekln8 to give linancial support to a prudently controlled Charity S. Ensure that. consistent with objects. mission statement and values of N-compass. proper ethic81 consideration be afforded to all rnatter$ ol investment N-compass operates across England to help people regain Control of their lives, providing hope and a sense of purpos8, through the provision ol Carers, Advocacy Wellbeing. Counselling and Volunteering Services. N-compass oblectlves. as stated In our 8ovemlni doeum•nt, ar•: Thè relief tsl thos8 in need Lw rèason of lacing disadvantage though illness. disabilily. age. the dèmands ol tha carers rolè, social exclusion, or •dvèrs¢ life events, by providing information and services to ènablè thosè pèoplé to irnpro théir quality ol lif•. The advancement ol education to addre8S the difficultiès lacèd ty disadvantagèd peoplè sèeking to express themselves. The Trustees review the objectives and activities of th charity and together with the senior man8gement ieam produce strategic p18ns that ali8n with them. In additior the charity produces 3ocial accotJnt3 detailin8 wh8t the ehhrity hhs aehieved and the outcomes of its work in thè same pOrting period. In summary. in the 2024-2025 period, our staff lea supported by172 volunteers supported over 25.000 individuals to stay well. & Ensure that the reserves are at a level suflicient to discharge 811 the charity's obligations should tha charity cease its operations Thè r*sèms policy w8s amended in 2024-2025 to rèflèet the risks facing the charity and after reviewing the latest financial forecasts and plannin8. including the 2025-2026 budget and 8 longer-term view of contractual risks. The Trustee5 hav8 det8rmined that the most Bppropriate reserves policy is a range. as this better suits the nature of the risks that N-compass face and the level ol uncertainty within our assumptions. This range has been set at £90QOOO to £l,100,OOQ Surplus funds will continue to be designated 85 directed the Trustees in order to support delivery of thB strategic plan. N-compass provides a range of Welfare and Public Health services on behalf ol public bodies. via short-term contracts that are tendered and subject to competition. The Sector is subject to con5t8nt review with increasing leve15 of resource constraint5 and ri5k5 of funding cuts. As a response to these risks N-compass looks to mitigate the impact ty operating across different funding streams. looking for strategic 811iance5, and being highly innovative and efh"cient in service-delivery. STRATEGIC REPORT Financial osition N-compass is in a strong fi'nancial position with unrestricted funds of £1,070.968 which is within the range Set by the Res8rves Policy Isee below) In 2023-2024 the Board of Trustees 8pproved the tr&nsfer of £80,000 to Designated fund5, to be invested in improvements to our IT Infrastructu and Data strategy. ensuring that we will benelit from the latest (echnology to provide a best-in-class service to our service user$ 8nd commissioners. £35,037 01 those funds remain ar will be spent in the next linancial ar. We will continue to use surplu5 serVeS to identify improvement opportunities to further strengthen the organisation and ensure that N-compass is at the forefront in terms of innovation and leadership in our Sector. Income increased by over £600,000 in 2024-2025 to £6,873.786 with new contracts secured in Westmorland {Advocacyl and Knowsley (Carers). together with inflationary price uplifts on some of our existing contracts.
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governin document The Board of Trustees delegate the management responsibility of the organisation to the Chief Executive who is a55iSted in this task kry a Senior Management Team consisting of the Services Director. the Peoples Services Director. the Finance Director and the Business Development Director. Since the Ist April 2009, N-compass Toward5 A Brighter Future Limited has been a Company Limited Ly Guarantee. The governing instrument of N-compass is the Articles of Association. Previous to this N-compass existed as a Charity only, which w8S 8St8blished and re8lStered in 1999. olic for senior staff The Trustees consider th8t the B08rd of Trustees, who are also the charitable company's directors, and the senior management team comprise the key management personnel of the charity. The senior management team gre responsible for directing and controlling, rtjnning and oper8tin8 the Charity on 8 day-to-d8y basis. All Trustees give their time freely and no trustee received remuneration in the sear. Details ol Trustees, expenses and related party transactions are disclosed in notes 8. 8nd 18 to the accounts. Trustee Recruitment, Induction and Training Prior to inviting nominations, the Trustees review the skills audit to try to attract members with the relevant experience and skills to the Board. A potential Tnjsiee is required to meet with the Chair of the 808rd of Trustees and the Chief Executive in order to f8mili8rise themselves with th8 work ol th8 or88n158tion, th8 context within whi¢h it operates and understand.. Thè 1*881 oblig8tions ot Trustaas The main do¢urnent8 which set out the ¢)peration#l framework lor the organisation Resourcin8 and thè currènt linaneial position 0$ detailed in the latest published Annual Accounts On appointmènt, •6ch Trusta8 eomplètès 8 rè8lStèr of interests and conflict ol interests foim. They are given a Trustee Handbook that includes the Articles of Association, risk policy and selected policies and procèdurès 8nd thè Charity Commission lèaflèt CC3. New Trustees are invited to undertake the process ol induction. Training needs are assessed and undert8ken as required. The Chief Executive regularly updates TrUeeS on any issues which affect their roles and responsibilities. The Trustees also have the opportunity to access appropriate training and davèlopmant. The pay of the senior staff is a matter for the Audit Committee. Related arties and artnershi In so far as it is complementary to N-Compas3 8nd ol benefit to the people it serves. the organisation is 8uided both Ioc818nd national policy drivers. To understand and transl8te thésè in thè contèxt of N-Cemp8SS, Wè are an aciive member on a number ol partnership and information networks. and lully participate in activities through local, regional and national structures, N-Comp8ss is also 8Ctively involved in 8 wide range ol multi-agency. community specific, operational and str8tè8ie partnerships. Thè partnèrships providè thè opportunity to improve profession81 understanding of the people N-compass supports. gain information relating to Ioc81 services and activities. and through our involvement in str8te8ic planning, W8 Can identify 88ps in s8rvice provision and inlorml influence the commissioning of luture planned services. N-compass has not had any related party transactions in the ar. anisational structure In line with the 8overnin8 document, the Board of Tru5te¢$ ebn consist of up tts 12 mtrrnbers. RÈpre5ent8tives can also be invited to attend the Board meetings but have no voting rights. For the majority of the hnancial aT. 10 Trustees served on the 8oard. Risk mana ement The Board of Trustees regularly reviews the major risks to which the organisation is exposed. and systems and procedures have been established to mitigate those ri5k5. The audit committee h8s been charged with undertaking a risk analysis pertinent to aaS of locus which feeds directly to the Board of Trustees. Additionally. N-Comp8ss produces 8nd 8ssesses monthly management accounts, an annual budget, quarterly budget review5, businesslstrate8i¢ plans and the reserve fund policy and possesses adequare insurance cover for all personnel. property. and 8Ctivities as part of their risk management approach. Internal controls of risks are minimised by the implementation of procedures for authorisation ol all transactions and projects. This is supported also planned audit schedule which assesses and reviews the way we work in line with a continuous irnprovement approach and forms part of the ISO 9001 audit framework. The Trustees are responsible for the strategic direction and policy of the organisation. There 15 one sub- etsmmittee of the 8tsard. The sub-committee enables more in-depth discussion of key issues and will consider matters referred to them ty the Board. making recommendations to the Board. The sub-comrnittee is the Audit Cornmittee. The Board convenes at a minimum of 4 times each year. the sub-ctsmmittee meet bi-monthly or at pre-set times and has its own Terms ol Reference. The reports and minutes of the sub-committee are a standing agenda item for the full B08rd meetings. Other cornrnittees and working groups may also be set up as needed.
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 As a result of the in-depth strategic analysis. including a thorough risk review, a more robust 8nd detailed risk m8na8ement register 15 in place which form5 part of the compilation of a business continuity plan. Health and Safety policies and procedu$ are established and regularly reviewed to ensure the health and safety of staff. volunteers. individuals. and visitors. The organisation contracts with Rr8d8r Emplcryment Law Consultants who provide advice which sits alongside emplLryment litigation indemnity insurance (via AXA). The continuing implementation and compliance with several quality standards ensu$ consistent qualiiy for 811 operational aspects of the organisation. These include, 8s mentioned, ISO 9001, Advocacy and Investors in Volunteering Quality Marks, and Gat Places to Work accreditaiion. All systems are periodically audited and reviewed to ensure that they continue to meet the needs of the org8nis8tion. REFERENCE AND ADMINISTRATIVE DETAILS Rogl8t?red Company numbor 06845210 (England and Wales) R•818t•r•d Ch*rlty numb•r 1128809 Rgglstgrgd offl¢e l Edward Vii Quay Navigation Way Ashton-On-Ribblè Prasten L8nc8shir$ PR? 2YF
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 Trustees The followin8 Trustees held ottice during the whole of the period from l April 2024 to the date of this report.. Dr. Mandy Dixon Angle Bry¥le Jordan Lewls Rachael Mccullough Other changes in Trustees holding oflice are as follows: Brian Watson (resigned 1104124) Catherlne Walsh (appolnted 22104124) Joanna Frith-williams (appointed 22104124) Janet Edvmrds (appointed 22104124). resigned 17103125) Adam Davld Gralnger (appolnted 31107124) Caroline Mary Smith (appointed 31107124) Ajay Patel (appointed 31107124) Andrew Sellers (appolnted 19103125) Helen Carouzos (resigned 9110124) Cothgring S¢ivier {rosi8ned 31103125) Chlef Executlve Joonn¥ Solankl Company Secretary Stuart Whlttle Audltor$ wal1vrk Nelson & Johnson Chartered Ac¢ountant$ & Statutory Audltors Chandler House 7 Ferry Road OtNce Park Riversway Preston Lancashire PR2 2YH Bankers LlwN4$ Bank 30 Corporation Street Blackpool Pll IEN
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the d1ctOrS of N-compass Tow8rds A Brighter Future Limited for the purposes of company law) are responsible for preparin8 the Report of th8 Trustees 8nd the fin8ncial st8tements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 Practice). Company law requires the trustees to prepare financial statements lor each linancial year which give a true and fair view ol the state ol allairs ol the charitable company and ol the incoming resources and application ol resources, including the income and expenditure. ol thè eh8ritablé comp8ny lor that period. In preparing tho$ lin8nci81 st8tement5, the trustees are required to selet suitable ac¢ountin8 poli¢ie$ ond th¢n •pply them ¢onsistgntly', observe the rnethods and principles in tho Charity SORP,. AUDITORS make judgements and estirnates that are rea¥onable 8nd prudent.. state whether 8ppIic8ble accounting standards have been followed. subject to any material departures disclosed and explained in the tinancial statements.. prepare the tinancial statements on the going concern basis unless it is inappropriate to presume th the charitable company will continue in busines& The auditors. Wallwork Nelson & Johnson. will be proposed lor re-appointmeni at the forthcoming Annual General M*tin8. Report ol the trustèès. ineorporbting 8 Strategic rèport, approved ty ord8r ol thè board of truste8s, as the cornpany directors. on 25 Juntr 2025 and signed on the board's behalf by.. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the eharitable eompbny and to ènable them to ènsurè that the lingncial stat8ment5 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable company and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities. In so far as the trustees are aware.. Mrs R Mccullough - Trusto there is no relevant audit information ol which the charitable companls auditors are unaware.. and the trustees have taken all steps that they OUEht to have taken to make themselves awa of any relevant audit information and to establish that the auditors a aware of that information.
N-compass Towards A Brighter Future Limited Report of the Independent Auditors to the Members inion Other information We have audited the fi'nancial statements of N-compass Towards A Brighter Future Limit8d {the'charit8ble eompany.) for the year ended 31 March 2025 which comprise the Statement ol Financial Activities. the Balance Sheet. the Cash Flow Statement and notes to the linancial st8tements, including a summary of signitic8nt accounting policie5. The linancial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acc8pt8d Accounting Pr8Cticel. In our opinion the tinancial statements: give a true and fair view of the state of the charitable company's affairs as 8t 31 March 2025 and of its incoming resources and application ol resource& including Its income and expenditure, loi the sear then ended.. The trustees are responsible for the other information. The other information comprises the information includ8d in the Annual Report, other than the financial statements and our Report ol the Independent Auditors thereon. Our opinion on the financial st8t8m8nts do8s not COV8r the other information and, except to the extent otherwise explicitly staled in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the linancial statements, our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the lin8nci81 statements or our knowledge obtained in the 8LJdit or otherwise appears to be materially misstated.11 we identify such material inconsistencies or app8nt material misstatements. we are required to determine whether this gives rise to 8 m8teri81 misstatement in the financi81 st8tements themselves. It. basèd on the work wè have perlormad, wa conclude ihat there is 8 material misstatement ol this other inform8tion, we are required to report that fact. We have nothing to report in this regard. have been properly prepared in accordance with Unitèd Kingdom Gan8r811y Accèptad Accounting Practice.. and have been prepared in accordance with the requirtrments tsl th• Compani¢$ A¢t 2006 Basis for o inion Opinions on other matters prescribed by the Companies Act 2006 We conducted our audit in accord8nce with Internlon81 Standards on Auditing IUKI {ISAs IUKII and applicable law. Our r85pon5ibilit185 under those 5t8nd8rds are further described in the Auditors, responsibilities lor the audit of the linancial statements section ol our pOrt. We are ndependent of the charitable company in accordance with the ethic81 requirements that are relevart to our audit ol the h"nèncial statements in the UK. including the FRC'S Ethical Standard. and we have fulhlled our other ethical responsibilities in accordance with ihese requirements. We believe that the audit evidence we hav¢ obtained is sulh'cient and 8ppropri8tè to provide a basis for our opinion. In our opinion, based on th8 work undèrthkan in thè coursa of the 8udit'. the information given in the Report of the Trustees for thè h"nancial ar for which the h"n8ncial statements arè pared is consistent with the financial statements.. and the Report of thè Trustèès has beèn prèparéd in occordance with applicable legal requirements. Conclusions relating to going concern In auditing the fi'nancial statements. we have concluded that the trustees, use ol the going concern basis of accotJntin8 in the preparation of the hnancial atements 15 appropriate. Based on the work we have performed. we have not identified 8ny material uncertainties relating to events or condition5 that, individually or collectively, rnay cast signilicant doubt on the charitable companys ability to continue as a going concern for a period of ai least twelve months from when the financial statements are authorised for issu8. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of thi5 report. 10
N-compass Towards A Brighter Future Limited Report of the Independent Auditors to the Members Matters on which we are required to report by exception In the light ol the knowledge and understanding of the charitable company and its environment obtained in th8 course of the audit, we have not identilied material misst£tements in the Report of the Trustees. The extent to which our procedures 8re c8pable of detecting irregularities. including fraud is detailed below.. Enquiry of management 8nd those ¢h8r8ed with governance around 8Ctual and potential litigation and claim* Enwiry of entity staff in tax and compliance functions to ider)tify any inst8nces of non-compliance with18WS and regulations. Reviwing minutes ol meetings of those charged with g¢wern8nce. We have nothing to report in respect of the foll¢wing matters wh8re the Comp8nie5 Act 2006 require5 U5 to report to you il, in our opinion.. adequate accounting records have not been kept or returns 8d8qU8te for our audit h8ve not been received from branchès not visited us-, or RevieIng h"nancial statement dlscltssus and testing to support documentation to assess compliance with 8pplicable18ws and regulations. Auditing the risk of man8gement override ol controls and evaluating the business rationale of signifi'cant transactions outside the normal course ol business. the fi'nancial statements are not in agement with the 8ccounting records and returns,. or cèrtain disclosures ot trustats, remunèration specified by law are not made.. or we have not received all the information and exp18n8tion$ we require lor our audit. A lurther description of our responsibilities for the audit ol thè h"nancial statemènts is located on tha Financial Reportin8 Council's website at www.Irc.org.ukl 8udiiorsresponsibilities. This description forms part ol our Report of the Independent Auditors. Res onslbilitles of trustees As explained more fully in the Statement ol Trustees. Responsibilities, the trustees (who are 8130 the directors of the ch8ritable comp8ny lor th$ purposa5 01 company law) are responsible for the prèparation of the financial statements and lor being satislied that they give a true nd lair view. 8nd for such internal control as the trustees determine is ne¢e8s8ry to enable the prep8r8tion of flnancial statements that are frèè from material misstatement, whether due to fraud or error. Use of our re ort This report is made solely to the charitable companys members, as 8 body, in accord8nce with Chapter 3 of Part 16 of the Compani8s Act 2006. Our 8udit work h83 been undertaken so that we mi8ht state to the charitable companys members those matters we are required to $18te to them in an auditors, report and for no other purpose. To the ftJlle$t extent permitted by18w. we do not bccèpt or bssume rèsponsibility to anne tsther th8n the charitable company and the charitable company's members as a body. for our audit work. for this report, or for the opinions we have formed. In prep8ring the finan¢ial statements, the trustee$ are responsible for 8ssessin8 thè charitablè companls hbility to continue as a going concern, disclosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquid&t• the charitable company or to ceasè operation5, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Paul Woodburn FCA (Senlor St•tutory Audltor) for and on behalf of Wallwork Nel8on & Johnson Charted Accountants & Statutory Auditors Chandler House 7 Ferry Road Office Park Riversway Pst0 Lancashire PR2 2YH Our objectives are to obtain reasonable assurance about whether the fvnancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a 8uarantee that an audit conducted in accordance with ISAS IUK} will alw8ys detect a m8teri81 misstatement when it exists. Misstatements can arise from fraud or error and are considered material il. individually or in the ag8gate. they could reasonably be expected to influence the economic decisions of users taken on the b8sis of these h"n8ncial 5tatement5. Date". 25 June 2025
N-compass Towards A Brighter Future Limited Statement of Financial Activities (Incorporating an Income & Expenditure Account) for the Year Ended 31st March 2025 2025 Unrestricted lunds 2024 Total funds Nrtes INCOME AND ENDOWMENTS FROM Charltable a¢tlvltl•s Advocacy Counselling Carers 2,036,161 64,271 1,611,708 337,281 4,773,354 4,257,568 Activities for generatin8 funds Investment income 26.950 12,901 27,160 11,659 Total 6,913,637 6,245,376 EXPENDITURE ON Charltable actlvltles Advocacy Counselling Carers 2,319,199 73,384 4.471,168 1,927,634 402,503 3,939,696 26,000 Payroll Benchmarking Central Service Improvements IT Infrastructu and Data Strategy 7,496 44,963 Total 6,908,714 6,303,329 Net gainslllosses) on investments {216) 26,435 NET INCOMEI(EXPENDITURE) 4,707 131,518) RECONCILIATION OF FUNDS Total funds brought forward 1.066.261 1,097,779 TOTAL FUNDS CARRIED FORWARD 1,070,968 1,066,261 12
N-compass Towards A Brighter Future Limited Balance Sheet 31st March 2025 2025 Unr•strlet•d funds 2024 Total funds Notes FIXED ASSETS Tangible 8ssets Investments 12 13 6,804 423.052 1,750 273,268 429.856 275,018 CURRENT ASSETS Debtors Cash at bank 14 684.490 730.319 558,685 774,213 1,414,809 1,332,898 CREDITORS Amounts falling dug within one year 15 {773,697) (541.655) NET CURRENT ASSETS 641,112 791,243 TOTAL ASSETS LESS CURRENT LIABILITIES 1,070.968 1,066,261 NET ASSETS 1,070.968 1,066,261 FUNDS Unrestricted funds 17 1,070.968 1,066,261 TOTAL FUNDS 1,070.968 1,066,261 The financial statements were approved ty the Board of Trustees and authorised for issue on 25 June 2025 and were signed on its behalt ty: R M¢Cullough- Trustee The notes form part of these financial statements. 13
N-compass Towards A Brighter Future Limited Cash Flow Statement for the Year Ended 31st March 2025 2025 2024 Notes Cash generated from operations 436144 Net Cash provided byl(used in) operating activities 436144 Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Interest received (6.224) (150,000) 12,901 (1,749) 11,659 Net cash provided byl(used in) investing activities (143,323) 9,910 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginnin8 of the reportlng perlod (43.894) (426,234) 774,213 1,200,447 Cash and eash equivalonts at tho end ol th• reporting period 730.319 774.213 The notes form part of these financial statements. 14
N-compass Towards A Brighter Future Limited Notes to the Cash Flow Statement for the Year Ended 31st March 2025 1. RECONCILIATION OF NET INCOME / (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income l (expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments tor: Depreciation charges Lossesl(gain) on investments Interest received Increase in debtors Increase l (decrease) in creditors 4,707 (31,518) 1,170 216 (12.901) (125,805) 232,042 4,982 (26,436) (11,659) (252,571) (118,942) Net cash used in operations 99,429 (436,144) 2. ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank 774.213 (43.894) 730,319 774 213 730319 Total 774.213 (43,894) 730,319 The notes form part of these financial statements. 15
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 1. STATUTORY INFORMATION Expenditure Liabilities a recognised as expenditure as sotsn as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a tr£nsfer of economic benefits will be required In settlement and the 8mount of the obligation c8n be me8sur8d r81i8bly. Expenditure is accounted for on an 8ccru81s b8SlS and has been classifi'ed under headings that aggregate all cost related to the category. Where costs cannot be d1Cl1Y attiibuted to particular headings they have been allocated to activities on a basis consistent with the use of resources. N-compass towards a brighter future Limited is registered as a charitable company limited Ly guarantee. and is domiciled in the UK. In the event of the charitable company being wound up, the liability in respect of the gu8r8nt8e 15 limited to £10 per member of the ch8ritable company. The Trustees are the members of the charitable company. The charitable companvs registered number and principal oflice are as below.. Reglstered Charlty Number: 1128809 Reglstered Company Number. 06845210 Prlnelpal Olff¢•: l Edward Vll Quay. Navigation Way. Ashion-on-Ribble, Preston. PR2 2YF Tangible fixed assets Depr8ciation 15 provided 8t the following 8nnu81 r8t85 in order to write off each asset over its estimated useful life. Fixture3 and titting8 25% on cost Oflice Equipment 33% on cost 2. ACCOUNTING POLICIES Basls of preparSn8 thè fln•n¢lal $tatemènt# The financial statemenis ol the charitable company. which is a publie benelit entity undar FRS 102, have beèn prep8r8d in accord8nc8 Wlth th8 Charities SORP {FRS 1021 'Accounting and Reportin8 ty Ch8rities.' Statement of Recommended Practice 8ppIic8ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) lelfective l January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland. and the Companiès Aet 200& Thè linanei81 statemènts have been prep8r8d undèr the historic81 cost conventiory with thè exception ol investments which are included at market Value, as modified ty the revaluation of certain assets. The presentation cUrnc¥ of the linanci81 st*ementS 18 the pound sterling 1£). The Trustees consider that there are no material uncertainties about the Charitys ability io continue as a going concern. No signilicant judgements have had to be made by the Trustees in preparin8 these fi.nancial statements. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds ean bè usèd in aecord8nca with thè eharitable objeetivès at thé discrètion ol thè trustèès. Rèstrietèd funds can only bè usèd for particular restricted purposes within the objects of the charity. Restrictions arise when specilied ty the donor or when funds a r8ised for particular restricted purposes. Furiher explanation of the nature and purpose of each fund is included in the notes to the linancial statements. Support costs Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Suppori costs include back-oflice costs. finance. personnel. payroll and governance costs which support the Charities objectives. Support costs have been allocated to activities on a basis consistent with the use of resources. Income All income is reco8nised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Where the Charity undertakes activities under contracts. income is recognised on a time basis to reflect the services provided. Details of income deferred to a futu period are contained in note 15. These amounts will be released to proj8Cts in the coming year. 16
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 3. ACTIVITIES FOR GENERATING FUNDS 2025 2024 Student placements 26,950 4. INVESTMENT INCOME 2025 2024 Deposit account interest 12.901 11,659 100% of investment income is related to assets held in the United Kingdom. 5. INCOME FROM CHARITABLE ACTIVITIES 2025 2024 A¢tivity Advocacy Counselling Carers 2,036,161 64.271 4.773.354 1.611,708 337,281 4,257,568 6 873 786 6 206 557 6. CHARITABLE ACTIVITIES COSTS Dlrect Costs Advocacy Counselling Carers IT Infrastructure and Data Strategy 2,319,199 73,384 4,471,168 44,963 6.908.714 17
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 7. NET INCOMEI(EXPENDITURE) 2025 2024 Net incomel(expenditure) is stated after chargingl(crediting)- Depreciation - owned assets Operating leases- premises 1,170 66,534 4,982 69,498 8. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benetits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 18
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 9. STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs Redundancy costs Other employee benefits 3.864.463 327,404 333,708 2,808 42.490 3,543,121 291,248 313,974 7,761 32.242 4.570.873 4.188.346 The average monthly number of employees durin8 the ar was as follows: 2025 128 2024 123 Charitable Activities Other The number of empl*)yees whose employee benefits (excluding employer pension costs) oxceeded £60.000 was: 2025 2024 £60,001- £70,000 £70.001- £80.000 Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds. The key management personnel of the Charity comprise the Trustees, the Chief Executive Officer. the Services Director, the Peoples Services Director, the Business Development Director and the Finance Director. The total employee benefits of the key management personnel of the Charity were £281,372 (2024.. £266,202). The average monthly headcount in the period was167 staff (2024: 160). 19
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME AND ENDOWMENTS FROM Charltable actlvltles Advocacy Counselling C8rers 1.611,708 337,281 4,257,568 Activities for generating funds Investment income 27,160 11,659 Total 6.245.376 EXPENDITURE ON Charitable activltles Advoc8Cy Counselling C8rers Payroll Benchmarking Central Service Improvements 1.927,634 402,503 3,939,696 26,000 7,498 Total 6,303,329 Net gains on investments 26,435 NET INCOMEI(EXPENDITURE) (31,518) RECONCILIATION OF FUNDS Total funds brought torward 1.097,779 TOTAL FUNDS CARRIED FORWARD 1.066.261 20
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 11. GOVERNANCE COSTS 31.3.25 31.3.24 Indemnity insurance Auditors, remuneration 1,158 5,405 1,040 5,148 6,563 6.188 Governance costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds. 12. TANGIBLE FIXED ASSETS Fixtures and tittings Office Equipment Totals COST At l April 2024 Addition8 1.749 5,289 30,091 935 31,840 6,224 At 31 March 2025 7.038 31,026 38,064 DEPRECIATION At l April 2024 Charge tor ya8r 30,090 41 30,090 1,170 1.129 At 31 March 2025 1,129 30,131 31,260 NET BOOK VALUE At 31 March 2025 5.909 895 6,804 At 31 March 2024 1.749 1,750
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 13. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2024 Additions Revaluations 273,268 150,000 (216) At 31 March 2025 423,052 NET BOOK VALUE At 31 March 2025 423,052 At 31 March 2024 273,268 There were no investment assets outside the UK. Cost or valuation at 31 Mareh 2025 is represented ty. Listed investments Valuation in 2023 (3,168) 26,436 (216) Valuation in 2024 Valuation in 2025 Cost 400,000 423,052 22
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Prepayments and accrued income 586,111 98,379 376,585 182,100 684.490 558.685 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Other creditors Accruals and deferred income 121,937 285.782 365,978 122,000 199,421 220.234 T73.697 541,655 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2025 2024 Within one year Between one and five yEars In more than five years 66,534 235.172 10,784 66,534 244,816 67,674 312,490 379,024 23
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 17. MOVEMENT IN FUNDS Net At movement At 31.3.25 IA.24 in funds Vnrestricted tunds General fund IT Inf rastructure and Data Strategy 986.261 80.000 49.670 (44,963) 1,035,931 35,037 1.066.261 4.707 1.070,968 TOTAL FUNDS 1,066.261 4.707 1.070.968 Net movement in funds. included in the above are as follows.. Income resources Resources expended Gains and Movement losses In funds Unrestrlcted funds General fund IT Inf r88tructure and Data Strategy 6,913,637 (6,863,751) (44.963) 1216) 49,670 (44,963) 6,913.637 (6,908.714) {216) 4,707 TOTAL FUNDS 6.913.637 (6.908.714) (216) 4.707 Comparatives for movement in funds Net movement in funds Tran$t•rs between funds At 31.3.24 IA.23 Unrestricted funds General fund Central Services Improvement Projects Payroll Benchmarking IT Infrastructure and Data Strategy 1.064.283 7.496 26.000 1,978 (7,496) (26.000) (80.000) 986,261 80,000 80,000 1.097.T19 (31.518) 1.066.261 TOTAL FUNDS 1.097.779 (31.518) 1.066.261 24
N-compass Towards A Brighter Future Limited Notes to the Financial Statements for the Year Ended 31st March 2025 17. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Income resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Central Services Improvement Projects Payroll Benchmarking 6.245.376 (6,269,833) (7.496) (26,000) 26,435 1,978 (7,496) (26,000) 6,245,376 16,303,329) 26,435 (31,518) TOTAL FUNDS 6.245.376 {6.303.329) 26,435 (31,518) A currént year12 months and prior ar12 months combined position is as follows.. Net Transfers movemont between in funds funds At 31.3.25 1.4.23 Unrestricted funds General fund Central Services Improvement Projects Payroll Benchmarking IT Infrastructure and Data Strategy 1.064.283 7,496 26.000 51,648 (7,496) (26,000) (44,963) (80,000) 1,035,931 80,000 35,037 1.097.779 (26.811) 1.070,968 TOTAL FUNDS 1.097.779 (26.811) 1.070.968 A current year12 months and prior year12 months combined net movement in funds, included in the above are as follows- Income resources Resources expended Galns and Movement losses in funds Unrestricted funds General fund Central Services Improvement Projects Payroll Benchmarking IT Infrastructure and Data Strategy 13.159.013 (13.133.584) (7.496) (26,000) (44.963) 26.219 51.648 (7,496) (26,000) (44,963) 13.159.013 (13.212.043) 26.219 {26,811) TOTAL FUNDS 13.159.013 (13.212.043) 26.219 {26.811) 25
N-compass Towards A Brighter Future Limited Report of the Trustees for the Year Ended 31st March 2025 The Board ol Trustees approved three projects for which the costs were to be allocated to Designated Reserve& Payroll Benchmarklng: an exercise to ensure th our salaries a lair in comparison to similar roles in our sector. Centrl Servlc• Improvements- to implement changes to the recruitment proce55, health and safety management and the h'nance function. IT Infrastructure and Data Strate8y- To ensur8 that the IT Infrastructure is of 8 high standard. supporting the development of a d8t8 Strategy to position N-compass s a leader in digital innovation. 18. RELATED PARTY DISCLOSURES There were no related p8rty tran$8Ctions lor years ended 31 March 2025 and 31 March 2024. GrtsQt Ty Do 00 n lcompass SVQM ftONZE N-Compa¥$ Head 0ffi¢o l Edward Vll Quay N8vig8tion W8y Ashton on Ribble Preston Lancashire PR2 2YF Tel= 01772 280030 Email: admin@n-compass.org.uk www.n-eompass.org.uk O @_ncompass ncomp85s.org in £ND.D28809IarteeNo.o884so