Reigate Stepping Stones Ltd Annu81 report and finanual statements 31 Mah 2024 Reigate Stepping Stones Ltd Annual report and financial statements Registered Charity No. 1136374 Company No. 07236238 31 March 2024
Reig8te St8pping Stones Ltd Annual reptyt and financial statements 31 March 2024 Contents Legal and administrative infomiation Trustees, Report Statement of trustees, responsibilrties in respect of the annual report and the financial statements Independent Examination report to the members of Reigate Stepping Stones Ltd Statement of Financial Activities Balance Sheet Notes to the Accounts
Reig8te Stepping Stones Ltd Annual pOrt and financial stat8menls 31 Mah 2024 LEGAL AND ADMINISTRATIVE INFORMATION Reigate Stepping Stones Ltd Registered charity No. 1136374 Trustees l Directors E E Chisholm D G Hills M Hudson D W Murphy V E Murphy R D Reeves R J Wallis Bankers HSBC Bank plc 107 High Street Banstead Surrey SM7 2NR Independent Examiner GBJ LLP 27 Hatchlands Road Redhill Surrey RH16RW Registered Office 51 Addison Road Caterham Surrey CR3 SLU Pag¢ I
Reigate Stepping Stones Ltd Annual report and financial ststements 31 Mah 2024 Trustee's Annual Report Objectives and Activities The main object of Reigate Stepping Stones Ltd is to provide a sense of nomiality to people with mental health illness with somewhere to meet in a relaxed environment with like-minded people. Reigate Stepping Stones Ltd aims to provide a variety of fonnal and infomial activities that would enable mental health users to gain confidence and self-esteem. To this end, the Charity's premises are open twice a week, 52 weeks of the year, when allowed by any pandemic restrictions. The Charity's unrestricted funds may be used for general purposes for the benefrt of the Charity. The designated fund will be used for a larger investment to meet the charity's objectives once an opportunty has been identified. Public Benefit Statement The Trustees confirm that they comply with their duty to have regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. Achievements and Perforniance The Charity has provided support for members with help in maintaining, improving their health and wellbeing by providing the Social Group twice a week and giving them the opportunity to use the Star Recovery Programme to help their wellbeing. The Charity also supplies a regular Newsletter which advertises a variety of activities I workshops that other organisations are providing which may be of benefit to them. Two Trustees continue to attend East & Mid Surrey FOCUS (Surrey and Borders Partnership NHS Foundation Trust), Mid & East stakeholders meetings, Voluntary Action Reigate and Banstead meetings and any other appropriate meetings to promote and network with other organisations. Besides these, they also promote Reigate Stepping Stones at various events and with the intention to endeavour to obtain more volunteers to help the running of the organisation. Financial Review During the period the Charty received £1 Ok from providing staff to Redhill Safe Haven and £1 Ok from a grant to run the drop in. There was also £18k of investment income and £1 k from membership fees where those attending pay a contribution towards a drink and sandwich. This compares to £439k total income last year which included a large legacy. During the period there was a total expenditure of £30k of which £14k was of salaries of staff for the dropin and the Redhill Safe Haven and £5k in rent for the drop-in premises. The overall financial performance recorded a net surplus of income over expendrture of £9k. The Trustees have decided to designate the legacy for a long-term project that is still to be evaluated and decided upon. The interest received this year has been added to the designated fund. Pag¢ 2
Reigate Stepping Stones Ltd Annual port 8nd finanual statements 31 Mah 2024 Plans for the Future The legacy receipt at such a high level was unexpected and so high that it takes the charity to a potential new level of activity. In consultation with the National Council for Voluntary Organisations, the Trustees are considering what it can now do and will commission an external review to explain the options. They do not want to do anything rash and quickly that is not sustainable. A further amount is due on sale of the property within that estate. Structure Govemance and Management The governing document of the Charty is the constitution adopted on 8 September 2009, as amended by special resolution on 28 April 2010. The seven Trustees are also the Management Committee of the Charity. They meet regularly to review activities, finance, and look to the future. Trustee Induction Trustees, appointments are made at the Annual General Meeting on recommendation of the Trustees and do not require the approva5 of any extemal authority. Reigate Stepping Stones Ltd seeks to appoint Trustees who can advance the objects of the charity through their professional expertise, local knowledge, and experience. New Trustees are made aware of their responsibility using resources of the Charity Commission. Further guidance is provided to the Trustee and training when this is needed. Relationships with Related Parties l External Bodies Funding continued throughout 202312024 via Richmond Fellowship Redhill. Continued funding has not been granted for this year and the chanty will use reserves to continue its operations. The Charity continues to work with Richmond Fellowship Redhill and Surrey Heartlands Integrated Care Board regarding the Redhill Safe Haven. This is for the benefit of people in mental distress who need support outside normal working hours of which many are our members in a "social" element. The Safe Haven is open three hundred and sixty-five days a year from 6.'OOpm to 11:00pm with access to professional help beside having two recovery workers. Invesknent Policy and Perfomiance The Charitls investment powers are broad but subject to a restriction that no speculative investments. Due to UnrtaInty of plans for the legacy, the funds have been held on three- month money market deposit this year. Reserves Policy It is the policy of the Chanty to keep total reserves at a level so running costs can be met for the following two years. At year end unrestricted reser4es total £15,183. The Diredors believe that the current level of reserves will enable the Charity to meet its committed costs and obligations for this period. To this end the Trustees set up the Designated Programme Fund with £19.200 which includes the monies reiVed upon the creation of Reigate Stepping Stones Ltd. The level of funds is to cover the cost of running the Charity for the next twelve months. The legacy Pag¢ 3
Reigate Stepping Stones Ltd Annual report and financial statements 31 March 2024 receipt has been designated for the time being as well until a decision on its long term use is decided and was increased this year by the investment income reiVed of £18,466. Risk Management Policy The Trustees have examined the major strategic, business, and operational risks which the Charity faces and confimi that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks. Going Concern Basis The Trustees have reviewed the impact of the recent pandemic and the downside snarro$ have been considered. For this reason, they continue to adopt the going concern basis in preparing the accounts. Small Company Rules This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies, exemption. Mr Dave Murphy Chairman Date.. November 2024 Page 4
Reigate Stepping Stones Ltd Annual report and financial stat8ments 31 M8rch 2024 Statement of Trustees, responsibilities in respect of the annual report and the financial statements Under charity law, the trustee is responsible for preparing a Trustee's Annual Report and the financial statements in accordance with applicable law and regulations. The trustee is required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparing these financial statements, generally acpted accounting pra1 entails that the trustee= select suitable accounting policies and then apply them consistently. makejudgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements", state whether the financial statements comply with the trust deed, subject to any material departures disclosed and explained in the financial statements. assess the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern" and use the going concern basis of accounting unless they either intend to liquidate the charity or to cease operations or have no realistic alternative but to do so. The trustee is required to act in accordance with the trust deed of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to show and explain the charity's transactions and disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustee to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. The trustee is responsible for the maintenance and integrity of the financial and other information included on the charity's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. By Order of the Trustee Signed.. "i?YIL November 2024 Date Chairman Pagc 5
Reigate Stepping Stones Ltd Annual Trport and finanoial statements 31 March 2024 REIGATE STEPPING STONES LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REIGATE STEPPING STONES LTD We report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 7t011. Respectlve responslbilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is our responsibilty to: examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act,. and state vthether particular matters have come to our attents'on. Basis of Independent Examlners, Report Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees conmIng any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and frair view, and the report is limited to those matters set out in the ststement below. Independent Examiners, Statement In connection wrth our examination. no matter has come to our attention: 1) which gNes us reasonable Cause to believe that. in any material respect, the requirements to keep accounting records in accordance with section 130 of the 2011 Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met" or 2) to which, in our opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. GBJ LLP Date2YNovember 2024 Chartered Accountants Independent Examiners 27 Hatchlands Road Redhill Surrey RH16RW Page 6
Reigate Stepping Stones Ltd Annual report and financial ststements 31 Mah 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds Designatsd 31 March 2024 31 March 2023 Funds Total Funds Total Funds Income and Endowments Grants Operations Donations and Legacies Income from Investments Total Income and Endowment 10,000 10,388 10,000 10,388 10,000 10,836 414,202 4,035 439,073 18,466 18.466 18,466 38,854 20,388 Expenditure Expenditure on Raising Funds Expenditure on Charitable Activities Other Expenditure Total Expenditurn {28,520} (1,500) (30,020) (28,520) (1,500) (30,020) (23,787) (1,500) (25,287) Net Incomel(Expenditure} (9.632) 18,466 8.834 413.786 Net Gainsl(Losses) on Invesknents Net Movement in Funds (9.632) 18.466 8,834 413,786 ReconcillatloTr of Funds Total funds brought forward Total funds carrled forward 24,815 15,183 432,200 450.666 457,015 465,849 43,229 457,016 The notes on pages 9 to 11 fom part of these financial statements. All income and expenditure is derived from continuing operats'ons. P48¢ 7
Reigate Stepping Stones Ltd Annual report and financi81 st8tements 31 Mah 2024 BALANCE SHEET AS AT 31 MARCH 2024 31 March 2024 31 March 2023 Flxed Assets Investments Current Assets Debtors (Note 5) Prepayments Cash at bank and in hand Total Current Assets 17.951 10,728 450,192 468,143 447,996 458.724 Current liabilltles Creditors.. Amounts falling due within one year (Note 6) (2,294) (1,709) Net Current Assets l (Liabllltles) 465,849 457.015 Total Net Assets 465.849 457,015 Funds of the Charlty Unrestricted Funds Designated Funds Total Funds 15,183 450.666 465,849 24,815 432,200 457,015 The notes on pages 9 to 11 fom part of these accounts. The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtsin an audtt of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees ackn¢)wledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that compty with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise compty with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordan with the provisions applicable to charitable companies subject to the small companies regime. The financial ststements on pages 10 to 11 and accompanying notes were approved by the Board of Trustees on 21November 2024 and were signed on ts behalf by.. (b) Mr Richard Wallis Trustee Company registered number: 07236238 Page 8
Reigate Stepwng Stones Ltd Annual port and financial statements 31 Ma 2024 NOTES TO THE ACCOUNTS Note 1 Principal Accountlng Policies Basis of Preparation The financial ststements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Trust constitutes a public benefit entty as defined by FRS 102. The financial ststements have been prepared on a going conrn basis which the Trustees consider to be appropriate for the following reasons. The business mdel of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the charity. The charity therefore has no specific commitments and no committed costs beyond ts fixed costs of operation which are detailed in note 5. The Trustees have reviewed the cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the charity will have sufficient funds to meet its liabilities as they fall due for that period. The Trustees have also considered the implications of COVID-19 on these cash flow forecasts and consider that because of its operating model explained above, even if no further funding is reiVed in the 12-month period, the charity has sufficient cash reseNes to pay all committed costs. Consequently. the Trustees are confident that the charity will have sufficient funds to continue to meet its liabilits'es as they fall due for at least 12 mnths from the date of approval of the financial statements." b> Income and Endowments All income is recognised On the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations a recognised when the Charity has been notified in writing of both the amount and settlement date. If a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recogni*d until either those conditions are fvlly met. or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period. Gifts in kind are valued at estimated fair market value at the time of receipt. Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administratorlexecutor for the estate has communicated in writing both the amount and settlement date. If the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition will be subject to the value of the gift being reliabty measurable with a degree of reasonable accuracy and the titie to the asset having been transferred to the Charity. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is nomally upon notification of the interest paid or payable by the bank. Expenditure Recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliabty. P¢9
Reigate Stepping Stones Ltd Annu81 port and financial ststements 31 March 2024 All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e) below. d) Allocation of support and governance costs Support costs have been allocated beeen govemance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its Complian with regulation and good practice. These costs include costs related to statutory audit and legal fees. Govemance costs and support costs relating to charitable activities have been apportioned across the funds as a percentage of funds held in each departmentfund. The allocation of support and govemance costs is analysed in note 5. Expenditure on raising funds The costs of generating funds are those wsts attributable to generating income, resources for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtheran of the Charity's objects and consist of investment management costs and certain legal fees. Expendlture on charitable activities Costs of charitable activities comprise all costs incurred in the pursutt of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned beeen the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure therefore include grants made, governance costs, and an apportionment of overheads as shown in note 6. Irrecoverable VAT IecOVerable VAT is charged against the expenditure heading for which it was incurred. h) Structure of funds Designated funds are funds for The Trustee has chosen to eaMrk these funds for specific areas within the general charitable purposes (see note 13). Unrestricted funds are available for use at the discretion of the Trustee for general charitable purposes relats'ng to the following: Realised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the differen beeen sales proceeds and their opening carying value or their purchase value if acquired after the first day of the financial year. Unrealised gains and losses are calculated as the differen beeen the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. i) Pensions The Charity uses the NEST Pensions scheme and has covered its pension liabilities. Note 2 Related party transactions and trustees, expenses and remuneration The charity d5 not have any related parties. The charity does pay expenses to any Trustee at the HMRC rate for travel and actual reimbursement of other expenditure. No Trustees reiVed any remunerats'on from the Company. Travel expenses of £900 (2023.. £689) were paid to two Trustees. Note 3 Grant Commitments The charity has no grant commitments. Page 10
Reigate Stepping Stones Ltd Annual rept)rt and financial statements 31 March 2024 Note 4 Events after reporting period There were no events after the reporting period. Note S Debtors 31 March 2024 31 March 2023 Trade Debtors Other Debtors 6,830 3.663 7.064 Note 6 Creditors 31 March 2024 31 March 2023 Other Credrtors Accruals 1,500 794 1,500 209 Note 7 Breakdown of Charitsble Activities Expenditure on charitable activities have all been to meet the charity's objectives. Unrestiicted Funds 31 March 2024 Unrestricted Funds 31 March 2023 Staff salaries Rent Printing, Postage and Stationery Telephone and Internet Sundries and Ackn'vities Payroll Fees Insurance Volunteers, Travel Expenses 14,394 5,200 4,737 178 175 750 2,186 15.765 4,940 621 118 237 456 961 11 900 689 Pagell