**St Vincent’s** ## **Family Project** ## **Annual Report and Financial Statements** 31 March 2023 Charity Registration Number 1142095 Company Registration Number 07638620 (England and Wales) _‘I thank all the employees; everything is beautiful, and the place is clean and warm. I felt comfortable with my baby from the first day. Thank you’_ ## **Contents** |**Reports**|| |---|---| |Reference and administration details|1| |Trustees’ report|2| |Independent auditor’s report|17| |**Financial Statements**|| |Statement of financial activities|21| |Balance sheet|22| |Statement of cash flows|23| |Principal accounting policies|24| |Notes to the financial statements|28| St Vincent's Family Project ## **Reference and administrative details** 31 March 2023 |**Patron**|Lady Viola G Grosvenor| |---|---| |**Trustees**|Philippa Gitlin (Chair)| ||Ms Christina Asare-Owusu (Until 31 March 2023)| ||Tim Hassell (Appointed 5 January 2023)| ||Teresa Crowley| ||Sister Liz Ferrie DC| ||Sister Kathleen Kennedy DC| ||Deacon Ali McMillan| ||Ifeoma Okafor| ||Rosemary Jackson| ||Joanna Wormell| |**Principal office**|The Methodist Central Hall| ||Storey’s Gate| ||Westminster| ||London| ||SW1H 9NH| |**Telephone:**|020 7654 5351| |**Facsimile:**|020 7654 6902| |**Company registration number**|07638620 (England and Wales)| |**Charity registration number**|1142095| |**Chief Executive**|Andrew Varley| |**Auditor**|Buzzacott LLP| ||130 Wood Street| ||London| ||EC2V 6DL| |**Bankers**|Royal Bank of Scotland plc| ||4th Floor| ||2½ Devonshire Square| ||London| ||EC2M 4XJ| |**Solicitors**|Wedlake Bell LLP| ||52 Bedford Row| ||London| ||WC1R 4LR| St Vincent's Family Project **1** **Trustees’ report 31** March 2023 The trustees present their statutory report together with the financial statements of St Vincent's Family Project (SVFP or the Project) for the year ended 31 March 2023. This report has been prepared in accordance with Part 8 of the Charities Act 2011 and constitutes a directors’ report for the purposes of company legislation. The financial statements have been prepared in accordance with the accounting policies set out on pages 24 to 27 of the attached financial statements and comply with the charitable company’s Memorandum and Articles of Association, applicable laws and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). ## **History** St Vincent’s Family Project has its origins with the Spanish government, who in 1975 set up a neighbourhood programme staffed by Spanish Daughters of Charity to work with families from Spain who were living in London. They provided them with support and formed a community to help these young families. This eventually expanded to include all families within the area when the UK Daughters of Charity of St Vincent de Paul became involved in the project in 1996. The project has been based at Methodist Central Hall since 2005 and maintains a strong relationship with the Methodist Central Hall Church. The Project is part of the Integrated Leadership of the South Westminster Family Hub and has links with different local providers, schools, faith organisations and businesses. ## **The need for our work** South Westminster is an area of contrast between wealth, history and power alongside stark social deprivation. Areas in Pimlico wards are within the top 10% of the Indices of Multiple Deprivation. It is an area with high pay gaps, high housing and childcare costs and homelessness. There are many different communities and languages spoken sitting amongst the poverty, debt and insecure housing; social isolation is a significant problem in the area. Families with very young children have all the pressures of early parenthood, so it is unsurprising we see relationship conflicts, huge emotional stress on families leading often to mental and physical health problems. Various evidence shows that children in Westminster fare less favourably when it comes to obesity, oral hygiene, well-being, risk of involvement in crime and homelessness. St Vincent's Family Project **2** **Trustees’ report 31** March 2023 ## **Principal aims** St Vincent’s Family Project aims to support families in Westminster especially those who are experiencing difficulties. The Project aims to address the issues of parenting, child welfare and social exclusion by providing services for parents and children. The charity’s intended impact is developing resilience in families in their early years to have a lasting effect on their futures. It aims to offer an experience of community that inspires, supports and enables positive change in the lives of those who use its services. These aims reflect the purposes for which the charity was set up. ## **Public benefit** The aims, objectives and activities of the Project are reviewed each year. As part of this process, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. The review of activities illustrates the ways in which the charity serves the public benefit. ## **Values** St Vincent’s Family Project has six Vincentian values that underpin our direct work with families and children. These are: _**We are Respectful** :_ We celebrate the uniqueness of the individual. We welcome diversity and treat everyone non-judgmentally with equal care and attention. _**We are Inspired** :_ We are committed to the nurturing of families in the belief that positive change is possible in a caring and loving environment. We seek to empower people to meet their full potential. _**We are Travellers Together** :_ We are privileged to accompany families through a significant part of their journey. They are the heart of our charity, and we work with them in a spirit of mutuality and friendship, always ready to listen and learn from them. _**We are Professional** :_ We aim for the highest of standards in our work drawing upon ‘best practice’ principles and programmes. We will always seek to improve the way we do things. _**We are Holistic** :_ We are concerned for the different aspects of people’s lives and will provide support wherever possible. We seek to be alert to identify emerging needs and respond to them in a flexible and creative way. _**We are Compassionate**_ : We use our resources for the benefit of the families always taking care to make our services affordable and accessible. St Vincent's Family Project **3** **Trustees’ report 31** March 2023 ## **Family Space** Family Space is open daily to local families with children (from age 0-5) offering a range of facilities, activities, programmes and support available. We have very good facilities for children and families, to play, relax, share food and receive support. This last year we were able to restore having non-appointment based Drop-In sessions for families for the first time since before the Covid-19 pandemic. For families on low incomes who need support, we offer a free crèche. We have a Sensory Room, where, amongst other things, sessions are offered to families of children with special educational needs. For parents, throughout the year we offer a range of parenting courses designed to fit different needs, in group settings, which help parents to realise they are not alone in the many challenges and responsibilities facing them. We also have programmes to help families with preparing nutritional, affordable meals for young children, including dealing with issues such as having fussy eaters, obesity and oral hygiene. This year we have had a regular Friday exercise class for mums, and we have provided a lunch one day a week. Our staff also provide one to one support for vulnerable families struggling with complex issues, typically, finances, poor housing, relationship and health breakdowns, including mental health. They give time and practical help to deal with problems or support the families to bring in additional, specialist support. We can help families get access to more specialist services, and we have had a regular slot this year with a Westminster Citizens Advice Bureau (CAB) advice worker. Throughout the year we offer different fun family activities, including monthly trips, to help families develop, make friends and build confidence. _**Theory of Change- Family Space**_ St Vincent's Family Project **4** **Trustees’ report 31** March 2023 ## **Family Space** (continued) ## _**Impact of Family Space in 2022-2023**_ _Numbers benefiting from offered programmes._ We supported 112 families this year, of which: - 32 received one-to-one support - 52 took 3 or more programmes - 72 took 2 or more programmes - 25 different languages were spoken - 33 different nationalities used our services. ## _**Programmes, Activities and Events**_ Coming out of the Covid-19 social restrictions in Spring of 2022, we were excited about having regular Drop-Ins without putting social restrictions on families. We were also anxious that, after two years with these in place, new families would not have heard of us, or be ready to come. However, we actively went out to meet families and leaflet the Pimlico area and found families did start to come in, as families we had supported during the pandemic were ready to move on. In the spring, we completed a Positive Parenting Programme which 9 families attended and a Healthy Living programme that 10 families completed. We also ran weekly fitness classes, a Bilingual Child course, a Dad’s Group on Saturdays, weekly Baby Massage, and SEN sessions, With the support of Change4Life we also ran a weekly Kids Club, providing exercise and activities for older children from age 5 to 11 years. Families were also taken on trips to Dockland’s Museum, Mudchute Farm and had an Easter Egg Hunt in Kew Gardens. We also ran a group for families once a month, with parents who have mental health issues, called KidsTime. Programmes continued in the Summer Holidays where we offered a programme attended by 45 families over 8 days, including: -  Sports day at St James Park with many competitions and prizes -  Family nature learning day; focusing on appreciating nature and creating “art”. -  Dad’s day: focusing on playing racquet sports in the park (Wimbledon was on after all) -  Family ZUMBA fun; more exercise for the whole family -  Trip to the South Bank “love your city day” with picnic and ice-creams. St Vincent's Family Project **5** **Trustees’ report 31** March 2023 ## **Family Space** (continued) ## _**Programmes, Activities and Events** (continued)_ -  Outing to Serpentine Lido with picnic -  Outing to Disney exhibition at Wallace Collection (by special invitation) -  And we finished with the first coach trip in many years, to Ruislip Lido, where families enjoyed the beach and a train trip through the nature reserve. All events were free to our families, and all had healthy snacks, drinks and extra “goodies” provided. Through support from the Marylebone Educational Foundation, we were able to help 30 families with getting children ready with school uniforms and equipment before term started. As Autumn term started we were beginning to do a lot more work for families facing the costof-living crisis, including securing the extended Local Hardship fund for 27. We brought 15 boxes of mostly jackets and tops, from the Twitter offices, and had a £1.00 coat sale in September. Over this term we had completed the Positive Parenting Programme and Mellow Parenting for Mums. As we were looking to help families with food costs we began providing lunch on Thursdays and started a Little Chef Crèche on Mondays. We also worked with Real Nappies for London, providing vouchers for parents and welcomed drop-in sessions from the local Citizens Advice Bureau for specialist welfare advice. We added to our fitness and health focus with a weekly yoga session. Over Christmas, SVFP took families to Winter Wonderland to see Santa, Chelsea Theatre to see the Christmas pantomime and gave Christmas lunch to Zizzi. We were able to secure Christmas hampers for 30 families from Junior League of London and donations (clothes and toiletries) for a further 35 families from Little Village. And we shared tickets for 40 families for Festive Feast organised by Childhood Trust where families had food, household items donations, gifts, live music, magicians etc. We ended 2022 with a Family Christmas Party and Grotto, with 49 families receiving donated toys and gifts for their children. Winter programmes continued into January with Thursdays continuing to be where a meal was provided in our Drop-In with a range of activities. A new Mellow Parenting Programme and a Positive Parenting Programme also started. A dental hygiene programme was successfully delivered to reception classes at Millbank Primary School and our half-term programme included a trip to the cinema for 30 families, a St Valentine’s party with family lunch and Prince’s Jasmin from “Make a Smile” organization (29 families attended). St Vincent's Family Project **6** **Trustees’ report 31** March 2023 ## **Family Space** (continued) ## _**Themes**_ As indicated, the cost-of-living crisis has been a focus for us, particularly in the colder months, with increased fuel bills. That we have had 32 families getting one-to-one support is an indication that we have continued to have families with ‘complex’ needs, i.e., more than one and of our growing ability to support them. Partnerships, because of the increased complexity of support, have been a theme for us this year. Our focus has still remained on the need to develop a family’s resilience, so rather than try to add other specialisms we have utilized local and other partners for skills and resources. Being able to re-open our Drop-In has reinforced the value to us of being a Community for local families. Many families have expressed the benefit of having somewhere to go, develop social networks and feel supported, let alone getting all the specific help and programmes. We have kept up with having a lot of activities and events that are fun and bring families together. Included in this is the continuation of activities that promote physical and mental health, which we have done through the year. ## _**Dad’s Space**_ At the beginning of the year we had funding for our Dad’s programme, which we had been determined to bring back following the pandemic. The group was available every Saturday morning for fathers and children. The group regularly had 5-6 families on a weekly basis, but although promoting it with families and partner agencies, it did not attract Dad’s with support needs. As funds ended, we decided we could not afford to continue it into the new year unfortunately. ## _**Outcomes**_ Our most recent outcomes evaluation indicates that families agreed or strongly agreed that SVFP helped to: Reduce social isolation – 100%. Reduce stress, anxiety and depression – 100%. Feel more confident about parenting – 79%. Reduce family conflicts – 89% Improve social and language skills of children – 79%. ## **Creative Arts and Drama Therapy** Many children in school struggle because of emotional, mental or behavioural issues. For very young children this is extremely hard to understand and to articulate in order to get help. St Vincent’s Family Project provides creative arts therapy for young children in local primary schools. Using drama, arts or dance, our therapists support young children to use play to express themselves, in which the therapist then helps them to further express the things that are causing them to struggle, become aware and take control of them. We use both experienced, qualified therapists to help children in the greatest difficulty as well as supervised students for children with less intense problems. St Vincent's Family Project **7** **Trustees’ report 31** March 2023 ## **Creative Arts and Drama Therapy** (continued) The previous year saw us doubling our support in schools as a direct impact of the pandemic causing or exacerbating trauma that pupils experienced. At the start of the year, some schools were struggling to continue to fund therapy going forward, even with grant support we were able to access, so levels dropped. However, our one-to-one work with families settled into a regular session at our project for families with complex trauma issues. This year we provided regular therapy support to 8 Westminster Primary Schools, for 27 children dealing with a variety of issues. In addition, 9 families, users of our Family Space received ongoing creative arts therapy for support with trauma. ## _**Comments on the service**_ _‘I thank all the employees; everything is beautiful, and the place is clean and warm. I felt comfortable with my baby from the first day. Thank you.’_ _‘my child has grown in confidence with art therapy.’_ _‘staff are very friendly, it's very helpful for kids to socialize and play with each other, helps parents to learn and express themselves so we like coming here to meet parents, we will continue to come always!’_ _‘thank you to all the team members for their support. My daughter is so much more confident than she was when we first joined. Providing a great warm space for all ages.’_ _‘I wish I had known about SVFP before!!!’_ _‘I feel like SVFP have been amazing for me and my two children. The staff members are so kind and helpful.’_ _‘As a single mother with my first child, I had no idea what I was doing and since my girl goes to the project she feels so happy and the elocution and vocabulary progressed drastically - she also made amazing friends.’_ _‘SVFP has always been the prenursery support for my 3 kids. I love this space.’_ _‘I am having an excellent experience at SVFP.’_ _‘the creche certainly helps kids get prepared to move onto nursery or school.’_ _‘they are doing an excellent job, amazing service and supportive staff. We all parents are very grateful to have free service for ourselves and children.’_ St Vincent's Family Project **8** **Trustees’ report 31** March 2023 ## **Creative Arts and Drama Therapy** (continued) _**Theory of Change – Creative Arts Therapy**_ ## **Volunteer Space** We have a robust volunteering programme that provides a range of volunteering activities for local residents, corporations, therapeutic placements, student interns and those wanting to make a difference within the community. -  Roles include direct work with families, administration, marketing and fundraising. -  Volunteers can see how a charity works within an urban, hyper-diverse context. -  Volunteers discover our Vincentian values and can incorporate them and their corresponding behaviours into their good reflective practice. - We had 32 volunteers in total including 15 students who came for a voluntary placement and voluntary internship, 9 students from OMNES Education London School, 2 students from University of Essex, and 4 students from CAPA, The Global Education Network. - 2,668 hours of volunteered time was given to the charity, valued at £31,883 _(based on London Living Wage)_ -  Volunteers were involved in: parenting courses, healthy living course, 1:1 support, fitness sessions, Drop-In sessions, crèche, dental workshops, outings, events such as Christmas party, sports day, social media and communication, outreach, database management, small fundraising, decorating of the project, and filming and video editing - 9 trustees gave time outside of the scheduled board meetings and planning days during the year St Vincent's Family Project **9** **Trustees’ report 31** March 2023 ## **Equal opportunities** St Vincent’s Family Project strives to apply the principle of equal opportunities throughout the organisation, and to that end regularly reviews its Equal Opportunities & Diversity Policy. The charity is pleased to welcome families, especially those experiencing difficulties, irrespective of age, sexual orientation, ethnic origin, gender, religion or status. Its aim is always to help those who would otherwise find themselves marginalised and excluded from the means of support they need. The charity aims to apply equal opportunities for both paid staff and volunteers. ## **Safeguarding** The charity recognises the need to protect children from harm and promote their welfare and to that end maintains a robust Child Safeguarding Policy. All staff and volunteers are required to be checked through the Disclosure & Barring Service (DBS) and receive training in child and adult protection and safeguarding issues. As part of their induction process, they are required to read the charity’s policies within the Employee Handbook and/or SVFP Policy Folder. ## **Fundraising** The year has been very challenging in regard to fundraising. Despite actively pursuing a high level of grants this year in sharp contrast to the previous two years. A number of Trust funds indicated that because of the economic crisis, they had less to distribute but were also having many more applications. In almost all cases where we received feedback from an unsuccessful application, this was the reason. The need to restore the project post pandemic and the increased support needed by families meant we were unable to realistically cut back on services. ## **Financial review** ## _**Results for the year**_ A summary of the results for the year to 31 March 2023 is given on page 21 of this annual report and financial statements. During the year, income totalled £318,081, (2022 - £263,483) of which £165,365 (2022 - £130,669) was restricted. Donation income amounted to £307,389, (2022 - £237,875). Expenditure totalled £360,346 (2022 - £314,278) and included staff costs of £280,851 (2022 - £244,037), premises costs of £36,277 (2022 - £33,643), and recruitment and training costs of £3,368 (2022 - £2,535). ## _**Financial position**_ At 31 March 2023, the charity had total negative funds of £32,617 (2022 – positive funds of £9,648). All funds were unrestricted. St Vincent's Family Project **10** **Trustees’ report 31** March 2023 ## _**Financial position** (continued)_ ## _**Reserves policy**_ The charity is highly committed to ensuring a continuing service to the children and families reliant on its services. In order to provide sufficient flexibility to cover temporary shortfalls in income due to timing differences in cash flows and to respond to unforeseen events, the trustees aim to maintain general reserves equal to at least three months of expenditure, which equates to approximately £90,000. ## _**Going concern assessment**_ The trustees acknowledge that there is a major shortfall, with the charity finishing the year in a deficit. A reduced budget has been actioned over the next twelve months, and trustees will look closely at the service delivered and make any necessary cutbacks to reduce costs. The year was especially difficult for the Project. On one side was increased demand for support, due to the ongoing impact of Covid-19 on families, as well as the new impact of the cost-of-living crisis. On the other side, our targeted income to meet these demands was too high, as funds were less available because of the economy. In the previous year we had expanded our use of creative arts therapy in schools and with families with younger children. Though the demand was still increasing last year, schools were generally struggling with their budgets. In some cases, particularly where we had already supported children, we continued to provide therapy using up our reserves rather than abandoning the service for the children. The year ahead is still challenging, but more predictable, with the trustees agreeing a more conservative fundraising plan and budget for the year. More optimistically, relationships with some corporate supporters were re-established following the pandemic and more opportunities for other fundraising sources than grants have developed again, giving confidence that the charity will finish the current year with replenished reserves. The Project continues to be an important provider in the area, both strategically and operationally, with very strong links in the community. ## **Future plans** Through 2023-24, St Vincent’s Family Project will aim to achieve the following objectives: - Continue to reach out to as many vulnerable families, to be aware of us and to encourage them to come to restore the project as a community for families. - Utilise partnerships to offer a varied and responsive service. - Continue to develop a package of help that will support families most impacted by the cost-of-living crisis. - Utilise volunteers and students to support the efficacy of our programme. - Reduce our outgoings and bring the project to surplus by the end of the year. - Explore more use of corporate support for volunteering and income generation. St Vincent's Family Project **11** **Trustees’ report 31** March 2023 ## **Governance, structure and management** ## _**Governance**_ The charitable company, which is governed by a Memorandum and Articles of Association, was incorporated as a company limited by guarantee (Company Registration Number 07638620 (England and Wales)) on 18 May 2011 and is a registered charity (Charity Registration Number 1142095). The sole member of the company, and thus its parent entity, is DCSVP Services, a registered charity (Charity Registration Number 1149326) and a company limited by guarantee (Company Registration Number 07638065 (England and Wales)), set up by the Daughters of Charity of St Vincent de Paul, to safeguard the Vincentian ethos in various projects such as St Vincent’s Family Project. In the event of St Vincent’s Family Project winding up, the member is required to contribute an amount not exceeding £1. Potential SVFP trustees are sourced via suggestions from the Chair, trustees and the Chief Executive. Potential candidates are then interviewed by the Chief Executive with an initial recommendation to the SVFP trustees. The next stage is for an interview by a trustee. The candidate is then asked to attend a trustees’ meeting as an observer and asked to make a short statement to the trustees, followed by questions and answers by the candidate and trustees. The trustees take a majority vote on whether to accept the candidate as a trustee. A new trustee must be approved by the Board of DCSVP Services before they can be appointed. On appointment, the new trustee receives a short induction, and they are DBS checked. The names of the trustees who served during the year are set out on page 1 of this report and financial statements and brief biographical details on each of the trustees are given below: ## _Ms Christina Asare-Owusu_ Christina Asare-Owusu was a member of the congregation at the Methodist Central Hall for over 20 years, teaching in the Junior Church (J C Live!) for over 15 years. She was a member of the Church Council, the Events Committee, a Pastoral Leader, and the Secretary of the Friends of Westminster. She was also a School Governor and served on the Independent Education Appeals Panel for Wandsworth Council. She worked on the News Team at the Mail on Sunday. Christina sadly passed away in year. ## _Teresa Crowley_ Teresa works as a Pastoral Liaison Officer and Careers Leader at Notre Dame School. In both roles she deals with outside agencies and is a school liaison for many different businesses, charities and local authority agencies. Teresa has a degree in Social Sciences and a Post Graduation Qualification in Careers Leadership. She loves her job at Notre Dame working on enrichment projects with the students which include programmes like: an art project around the First World War that was exhibited at The Guildhall, a dance project with Rambert which saw the students perform at their studio and writing a book of memories with the local elderly day centre. St Vincent's Family Project **12** **Trustees’ report 31** March 2023 ## **Governance, structure and management** (continued) ## _**Governance** (continued)_ ## _Sister Liz Ferrie_ Sister Liz Ferrie has served the Daughters of the Charity of St. Vincent De Paul for 53 years. She is both a qualified Nursery Nurse and RGN for adults. Her working life is one of caring for people of every age and conditions. She has also travelled considerably for her work for humanitarian causes.Having spent 6 years in Paris as English speaking Secretary she returned to England where she has been working on research for the Daughters of Charity. ## _Philippa Gitlin_ Philippa Gitlin worked both as a CEO and trustee in the UK charity sector and served on 3 school governing bodies before retiring in 2010. Since then, she has served on the board of a French Charity addition to providing consultancy on governance to other charities in the UK. She was also until recently a trustee of FARA Foundation UK, a charity supporting services to severely disadvantaged children and families living in poverty in Romania. ## _Sister Kathleen Kennedy_ Sister Kathleen Kennedy entered the Daughters of Charity of St Vincent de Paul in 1966. She worked in residential child care for fourteen years, after which she ran a pre-school group in a primary school setting. She qualified as a teacher with Bachelor of Arts with Qualified Teacher Status (BAQTS) and taught in an inner city primary school for sixteen years. She worked as part of a city wide Evangelisation Team in Hull before being appointed to the Provincial Council of the Daughters of Charity. ## _Deacon Ali McMillan_ Deacon of the Methodist Church at the Methodist Central Hall, Westminster, Deacon Ali McMillan had been a Teacher in Secondary Schools and Sixth form colleges before joining the ministry. She has through her pastoral activities worked with all age ranges in the community. ## _Ifeoma Okafor_ Ifeoma Okafor’s first degree was in Microbiology, but she then went on to complete an MSc in Financial Economics and is now a Financial and Accounting Reporting Manager at Standard Chartered Bank PLC. She has a background in supporting charities work and coaching people into employment. ## _Joanna Wormell_ Joanna Wormell, having completed a first degree in Russian, was admitted as a solicitor to the Supreme Court of England and Wales in 2002. Since 2007 Joanna has worked for RBS and currently holds the position of Managing Director, Global Head of Compliance, Capital Resolution. Though a very experienced traveller she lives in South Westminster. ## _Rosemary Jackson_ Rosemary Jackson works at MasterCard International and holds the position of Sr. Vice President, Real Time Payments Solutions. Working for Mastercard for 20 years, based out of Sydney, Singapore and now London with experience across various roles covering software management, customer project implementation, business analysis, migration of core banking systems, testing and release management, working closely with banks in the UK, Nordics & Baltics, Middle East Africa and Asia Pacific markets. St Vincent's Family Project **13** **Trustees’ report 31** March 2023 ## **Governance, structure and management** (continued) ## _Tim Hassell_ Tim Hassell is the Managing Director of Draker Lettings, a property lettings company in West London. From modest origins in Liverpool, Tim has always been motivated to pass on the kindness and support he experienced growing up and getting to where he is. He has been a Trustee for the Breast Cancer Trust and Robert Grace Trust before ## _**Structure and management reporting**_ The ultimate responsibility for the charity lies with the trustees. The day-to-day management is delegated to the Chief Executive. Meetings are held regularly with the trustees, service users and the staff team to ensure the quality of service and the aims of the charity are being met. ## _**Key management**_ The trustees consider that they together with the Chief Executive comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The pay of the Chief Executive is reviewed annually by the trustees. ## _**Risk management**_ The trustees undertake an annual review of the principal risks and uncertainties that the charity faces categorising the risks between those affecting the governance and management of the charity, operational risks, financial risks, reputational risks and those which occur because of circumstances outside of the charity's control such as changes in government policy, laws and regulations. They regularly review the measures already in place, or needing to be put in place, to establish policies, systems and procedures to mitigate those risks identified in the annual review and ensure that action is taken to implement changes to those policies, systems and procedures should they be needed to minimise or manage any potential impact on the charity should those risks materialise. The trustees have identified five main areas where risks may occur: governance and management, operational, financial, reputational and regulatory. **Governance and management** look at the risk of the charity, suffering from a lack of direction, at the skills and training of its members and staff, and the good use of its resources. **Operational** looks at the risks inherent in the charity’s activities including any potential shortcomings in the services provided, staffing, poor health and safety, and the disaster recovery plan, etc. **Financial** risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, etc. **Reputational** looks at possible damage to the charity’s reputation. **Regulatory** looks at the effects of government policies, the consequences of non-compliance with laws and regulations and poor risk assessment. St Vincent's Family Project **14** **Trustees’ report 31** March 2023 ## **Governance, structure and management** (continued) ## _**Risk management** (continued)_ Having assessed the major risks to which the charity is exposed, the trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. However, they acknowledge also that the charity’s activities expose it to a variety of financial risks. The charity has in place a risk management programme that seeks to identify and mitigate the effects of the risk on its finances. The principal financial risk remains the impact of the general economic conditions and its impact on charitable funding. Whilst the current level of funding for 2023-2024 suggests that the charity will reach its income targets, the trustees remain mindful that continued efforts need to be made to attract new funding and additional income streams. The other key risk for the charity, as identified by the trustees, arises because operationally the charity works with children and vulnerable adults. The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. This means that all those who work or volunteer for the charity and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS). ## _**Statement of trustees’ responsibilities**_ The trustees (who are directors of St Vincent’s Family Project for the purposes of company law) are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently. - observe the methods and principles in the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102); - make judgements and estimates that are reasonable and prudent. - state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and St Vincent's Family Project **15** **Trustees’ report 31** March 2023 ## **Governance, structure and management** (continued) ## _**Statement of trustees’ responsibilities** (continued)_ - to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the trustees confirms that: - so far as the trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and - the trustee has taken all the steps that he/she ought to have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. Approved by the trustees and signed on their behalf by: Trustee Approved by the trustees on: St Vincent's Family Project **16** **Independent auditor’s report** Year to 31 March 2023 ## **Independent auditor’s report to the member of St Vincent’s Family Project** ## **Opinion** We have audited the financial statements of St Vincent’s Family Project (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: -  give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its income and expenditure for the year then ended; -  have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -  have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusion relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. St Vincent's Family Project **17** **Independent auditor’s report** Year to 31 March 2023 ## **Other information** (continued) In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: -  the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and -  the trustees’ report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: -  adequate accounting records have not been kept; or -  the financial statements are not in agreement with the accounting records and returns; or -  certain disclosures of trustees’ remuneration specified by law are not made; or -  we have not received all the information and explanations we require for our audit; or -  the trustees were not entitled to prepare the financial statements in accordance with the small company’s regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. St Vincent's Family Project **18** **Independent auditor’s report** Year to 31 March 2023 ## **Auditor’s responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: -  the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; and -  we obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: -  making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and -  considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: -  performed analytical procedures to identify any unusual or unexpected relationships. -  carried out substantive testing of expenditure including the authorisation thereof. -  reviewed journal entries to identify unusual transactions and substantiated these where appropriate; and -  assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. St Vincent's Family Project **19** **Independent auditor’s report** Year to 31 March 2023 ## **Auditor’s responsibilities for the audit of the financial statements** (continued) In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -  review of the minutes of meetings of those charged with governance; and -  enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charitable company’s member, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's member those matters we are required to state to it in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's member, for our audit work, for this report, or for the opinions we have formed. Amanda Francis (Senior Statutory Auditor) 11 October 2023 For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL St Vincent's Family Project **20** ## **Statement of financial activities (including income and expenditure account)** Year to 31 March 2023 |Notes|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**2023**
**Total**
**funds**
**£**|Un-
restricted
funds
£|


Restricted
funds
£|2022
Total
funds
£| |---|---|---|---|---|---|---| |**Income:**
Donations and grants (including
Coronavirus Job Retention
Scheme funding)
1
Bank interest
Crèche and Creative Art
Therapy fees
Miscellaneous
**Total income**
**Expenditure:**
Charitable activities
. Provision of services to
vulnerable families and
children
2
**Total expenditure**
**Net expenditure before**
**transfers**
Transfers between funds
9
**Net expenditure and net**
**movement in funds for the**
**year**
3
**Reconciliation of funds:**
Balance brought forward at 1
April 2022
**Balance carried forward at 31**
**March 2023**|**147,393**
**91**
—
**5,232**|**159,996**
—
**5,291**
**78**|**307,389**
**91**
**5,291**
**5,310**|132,688
6
—
120|

105,187

—

25,482

—|
237,875
6
25,482
120| ||**152,716**|**165,365**|**318,081**|132,814|
130,669|263,483| ||**156,622**|**203,724**|**360,346**|150,838|
163,440|314,278| ||**156,622**|**203,724**|**360,346**|150,838|
163,440|314,278| ||**(3,906)**
**(38,359)**|**(38,359)**
**38,359**|**(42,265)**
—|(18,024)
(32,771)|
(32,771)
32,771|(50,795)
—| ||**(42,265)**
**9,648**|—
—|**(42,265)**
**9,648**|(50,795)
60,443|
—

—|(50,795)
60,443| ||**(32,617)**|—|**(32,617)**|9,648|
—|9,648| All recognised gains and losses are included in the above statement of financial activities. All of the charity’s activities continued during the above two financial years. St Vincent's Family Project **21** **Balance sheet** 31 March 2023 |Notes|**2023**
**£**|**2023**
**£**|2022
£|2022
£| |---|---|---|---|---| |**Fixed assets:**
Tangible assets
6
**Current assets:**
Debtors
7
Cash at bank and in hand
**Total current assets**
**Liabilities:**
Creditors: amounts falling due
within one year
8
**Net current (liabilities) assets**
**Total net (liabilities) assets**
**Represented by:**
**The funds of the charity**
Restricted funds
9
Unrestricted funds
. General fund
**Total charity funds**|**16,542**
**8,853**|**2,020**
**(34,637)**|24,569
52,037|—
9,648| ||**25,395**
**(60,032)**||76,606
(66,958)|| |||||| |||**(32,617)**||9,648| |||**—**
**(32,617)**||—
9,648| |||**(32,617)**||9,648| Approved by the trustees and signed on their behalf by: **----- Start of picture text -----**
Trustee
Approved by the trustees on:
**----- End of picture text -----**
St Vincent’s Family Project – Company Registration Number 07638620 (England and Wales) St Vincent's Family Project **22** ## **Statement of cash flows** 31 March 2023 |Notes|
**2023**
**£**|2022
£| |---|---|---| |**Cash flows from operating activities:**
Net cash used in operating activities
A
**Cash flows from investing activities**
Purchase of tangible fixed assets
**Change in cash and cash equivalents in the year**
**Cash and cash equivalents at 1 April 2022**
B
**Cash and cash equivalents at 31 March 2023**
B|

**(40,491) **|(55,162)| ||

**(2,693) **|—| ||
**(43,184)**


**52,037**
|(55,162)
107,199| ||
**8,853**|52,037| ## **Notes to the statement of cash flows for the year to 31 March 2023** ## **A Reconciliation of net movement in funds to net cash flow used in operating activities** ||**2023**
**£**|2022
£| |---|---|---| |**Net movement in funds (as per the statement of financial activities)**
**Adjustments for:**
Depreciation charge
Decrease (increase) in debtors
(Decrease) increase in creditors
**Net cash used in operating activities**|**(42,265)**
**673**
**8,027**
**(6,926)**|(50,795)
1,275
(19,608)
13,966| ||**(40,491)**|(55,162)| ## **B Analysis of cash and cash equivalents** ||**2023**
**£**
**8,853**|2022
£| |---|---|---| |**Total cash and cash equivalents**: Cash at bank and in hand||52,037| **C Analysis of changes in net debt** ||At 1 April
2022
£|Cash
flows
£|
**At 31**
**March 2023**
**£**| |---|---|---|---| |Cash at bank and in hand|52,037|(43,184)|**8,853**| St Vincent's Family Project **23** **Principal accounting policies** 31 March 2023 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below. ## **Basis of preparation** These financial statements have been prepared for the year to 31 March 2023 with comparative information given in respect to the year to 31 March 2022. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. The financial statements have been prepared in accordance with the principles set out in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are presented in sterling and are rounded to the nearest pound. ## **Critical accounting estimates and areas of judgement** Preparation of the financial statements requires the trustees and management to make significant judgements and estimates. The main judgement or estimate that has been made in these financial statements relates to the useful economic life of tangible fixed assets used in determining the annual depreciation charge. ## **Assessment of going concern** The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements. The trustees accept that the financial position of the charity continues to require careful monitoring, with a year ending in a deficit and with free reserves below that demanded by the charity’s reserves policy. The 2022-2023 year was an unusually challenging year, with the increased demand following the pandemic, as well as the economic crisis that impacted beneficiaries to the charity as well as funding for the year. The trustees have planned to meet the challenges ahead with a revised structure and realistic fundraising plan for the year. St Vincent's Family Project **24** **Principal accounting policies** 31 March 2023 ## **Assessment of going concern** (continued) In the meantime, the trustees of the Daughters of Charity of St Vincent de Paul Charitable Trust (Charity Registration Number 236803) (see note 12) have confirmed that, if necessary, they will continue to provide financial and other support to the charity to enable it to remain a going concern in the short to medium term. Given this, the trustees are of the opinion that St Vincent’s Family Project will have sufficient resources to meet its liabilities as they fall due. ## **Income recognition** Income is recognised in the period in which the charitable company is entitled to receipt, the amount can be measured with reasonable certainty, and it is probable that the income will be received. Income comprises donations, grants, bank interest, crèche and creative art therapy fees, income from other trading activities, and miscellaneous income. Donations and grants are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully 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. Income from the Coronavirus Job Retention Scheme is credited to the statement of financial activities once the charitable company is entitled to the funding and the amount receivable has been quantified. In accordance with the Charities SORP FRS 102 volunteer time is not recognised. Donated goods are recognised at fair value unless it is impractical to measure this reliably in which case a derived value, being the cost of the item to the donor, is used. An equivalent amount is included as expenditure except where the donated good is a fixed asset in which case the corresponding amount is included in the appropriate fixed asset category and depreciated over the useful economic life in accordance with the charity’s accounting policies. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. ## **Income recognition** (continued) Income derived from the levying of charges for Crèche and Creative Art Therapy and income from trading activities is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Miscellaneous income is measured at fair value and accounted for on an accrual’s basis. St Vincent's Family Project **25** **Principal accounting policies** 31 March 2023 ## **Expenditure recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual’s basis. Expenditure on charitable activities comprises expenditure on the provision of a safe and stimulating environment where parents and children can take part in activities together and as individuals. Governance costs are costs associated with the governance arrangements of the charitable company that relate to the general running of the charitable company as opposed to those costs associated with fundraising or charitable activity. Included within this category are costs associated with the strategic as opposed to day-to-day management of the charitable company’s activities. Costs are apportioned based on the number of sessions provided at the Family Project for each activity. All expenditure is stated inclusive of irrecoverable VAT. ## **Tangible fixed assets** All assets costing more than £3,000 and with an expected useful life exceeding one year are capitalised. Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life: -  Furniture and equipment 25% on cost -  Computer equipment 25% on cost ## **Debtors** Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. ## **Cash at bank and in hand** Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. St Vincent's Family Project **26** **Principal accounting policies** 31 March 2023 ## **Creditors and provisions** Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. ## **Fund structure** Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions. General funds represent monies which are freely available for application towards achieving any charitable purpose that falls within the charitable company’s charitable objects. ## **Leased assets** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the term of the lease. St Vincent's Family Project **27** ## **Notes to the financial statements** 31 March 2023 ## **1 Donations and grants** |**Donations and grants**|||| |---|---|---|---| ||**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**2023**
**Total**
**funds**
**£**| |**_Grants_**
One Westminster
Young Westminster
Garfield Weston
St Marylebone
Westminster Amalgamated
Mercers Trust
Hyde Park Charitable Trust
Ironmongers
Mrs Smith & Mount Trust
Sisters of The Holy Cross
Swire Charitable Trust
The St Giles-in-the-Fields and William Shelton Educational Charity
London Catalyst
Westminster Foundation
Daughters of Charity of St Vincent de Paul, Charitable Trust
John Lyons Charity
**_Donations_**
Methodist Central Hall
Other donations
**2023 Total funds**|—
—
—
—
—
—
—
—
—
—
**20,000**
—
**4,000**
**10,000**
**40,000**
**30,000**|**11,000**
**23,118**
**15,000**
**5,000**
**7,500**
**21,570**
**5,000**
**25,000**
**5,000**
**10,000**
—
**31,808**
—
—
—
—|**11,000**
**23,118**
**15,000**
**5,000**
**7,500**
**21,570**
**5,000**
**25,000**
**5,000**
**10,000**
**20,000**
**31,808**
**4,000**
**10,000**
**40,000**
**30,000**| ||**104,000**|**159,996**|**263,996**| ||**25,000**
**18,393**|—
—|**25,000**
**18,393**| ||**43,393**|—|**43,393**| ||**147,393**|**159,996**|**307,389**| ||Unrestricted
funds
£|Restricted
funds
£|2021
Total
funds
£| |---|---|---|---| |Grants
City of Westminster Trust
Westminster Foundation
Westminster Almshouses
Westminster Amalgamated
Ironmongers Foundation
Mercers Trust
St Marylebone Educational Trust
R L Glasspool
Daughters of Charity of St Vincent de Paul
Sisters of the Holy Cross
Swire Charitable Trust
The St Giles-in-the-Fields and William Shelton Educational Charity
Garfield Weston Foundation
Edward Harvest Trust
John Lyons Charity
Two Magpies
Hyde Park Place
Donations
Methodist Central Hall
Daughters of Charity of St Vincent de Paul
Other donations
Coronavirus Job Retention Scheme grant
2021 Total funds|4,065
11,928
10,000
8,000
—
—
—
—
3,000
15,000
52,535
—
10,000
998
30,000
15,000
5,000|4,881
—
—
—
50,000
5,640
1,591
300
—
—
—
14,487
—
—
—
—
—|8,946
11,928
10,000
8,000
50,000
5,640
1,591
300
3,000
15,000
52,535
14,487
10,000
998
30,000
15,000
5,000| ||165,526|76,899|242,425| ||16,680
60,000
18,348|—
—
1,000|16,680
60,000
19,348| ||95,028|1,000|96,028| ||28,888|—|28,888| ||289,442|77,899|367,341| St Vincent's Family Project **28** **Notes to the financial statements** 31 March 2023 ## **2 Charitable activities** |**Charitable activities**||||||| |---|---|---|---|---|---|---| ||**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**2023**
**Total**
**funds**
**£**|Unrestricted
funds
£|Restricted
funds
£|


2022
Total
funds
£| |||**130,698**
**56,676**
**8,340**
—
**8,010**
—
—
—
—
—
—
—
—
—|**224,175**
**56,676**
**8,340**
**1,056**
**36,277**
**11,070**
**2,676**
**2,076**
**3,368**
**25**
**4,112**
**6,670**
**2,160**
**1,665**|85,051
—
—
3,080
33,643
3,349
3,505
3,957
2,535
32
3,982
5,267
4,200
2,237|112,196
46,790
4,454
—
—
—
—
—
—
—
—
—
—
—|
197,247

46,790

4,454

3,080

33,643

3,349

3,505

3,957

2,535

32

3,982

5,267

4,200

2,237| ||**156,622**|**203,724**|**360,346**|150,838|163,440|
314,278| ## **3 Net expenditure and net movement in funds for the year** This is stated after charging: ||**2023**
**£**|2022
£| |---|---|---| |Staff costs (note 4)
Auditor’s remuneration (including VAT)
. Current year statutory audit services
Depreciation|**280,851**
**3,120**
**673**|244,037
4,920
1,275| As the charity is part of a large group, it is required to have its accounts audited rather than an independent examination. The difference between the independent examination fee and audit fee is £2,400, which has been paid by the parent charity, DC Services. ## **4 Staff costs and remuneration of key management personnel** |**Staff costs and remuneration of key management personnel**||| |---|---|---| ||**2023**
**£**|2022
£| |Staff costs during the year were as follows:
Wages and salaries
Pension costs
Social security costs
Contract staff|**206,718**
**4,208**
**13,249**|181,754
3,843
11,650| ||**224,175**
**56,676**|197,247
46,790| ||**280,851**|244,037| Included within wages and salaries are redundancy costs of £4,100 (2022 – nil). The average number of employees, based on head count, was 8 (2022 – 8) whereas the average number of employees, based on full time equivalents, was 7 (2022 – 7). There were no employees who earned £60,000 per annum or more (including benefits) during the year none (2022 – none). St Vincent's Family Project **29** **Notes to the financial statements** 31 March 2023 - 4 **Staff costs and remuneration of key management personnel** (continued) The trustees consider that they together with the Chief Executive comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The total remuneration (including taxable benefits and employer’s pension contributions) of the key management personnel for the year was £62,807 (2022 - £59,574). No of the trustees received any remuneration in respect of their services during either year (2022 – none). Expenses were £nil reimbursed to the trustees (2022 – none). ## **5 Taxation** St Vincent's Family Project is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. ## **6 Tangible fixed assets** |**Tangible fixed assets**|||| |---|---|---|---| ||Furniture
and
equipment
£|Computer
equipment
£|**Total**
**£**| |**Cost**
At 1 April 2022 and
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for year
On disposals
At 31 March 2023
**Net book values**
At 31 March 2023
At 31 March 2022|5,099
—
(5,099)|—
2,693
—|**5,099**
**2,693**
**(5,099)**| ||—|2,693|**2,693**| ||5,099
—
(5,099)|—
673
—|**5,099**
**673**
**(5,099)**| ||—|673|**673**| ||—|2,020|**2,020**| ||—|—|**—**| ## **7 Debtors** |**Debtors**||| |---|---|---| ||**2023**
**£**|2022
£| |Other debtors
Prepayments|**16,542**
—|21,173
3,396| ||**16,542**|24,569| St Vincent's Family Project **30** **Notes to the financial statements** 31 March 2023 ## **8 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| ||**2023**
**£**|2022
£| |Accruals
Amount due to Methodist Central Hall (note 11)
Social security and other taxes
Sundry creditors
Amount due to the Daughters of Charity of St Vincent de Paul Charitable
Trust (note 12)
Deferred income: grants received in advance (see below)|**3,120**
**2,412**
—
—
**29,500**
**25,000**|4,920
2,412
3,916
710
—
55,000| ||**60,032**|66,958| ||**2023**
**£**|2022
£| |Deferred income at 1 April
Amounts released from previous years
Resources deferred in the year
Deferred income at 31 March|**55,000**
**(55,000)**
**25,000**|45,000
(45,000)
55,000| ||**25,000**|55,000| Deferred income relates to grants received in advance of the year to which they relate. ## **9 Restricted funds** The income funds of the charity include the following restricted funds: ||**At 1**
**April**
**2022**
**£**|**Income**
**£**|**Expenditure**
**£**|**Core cost**
**transfers**
**£**|**At 31**
**March**
**2023**
**£**| |---|---|---|---|---|---| |Family Space Project
Creative Arts Therapy Project|**—**
**—**|**113,325**
**52,040**|**(113,325)**
**(90,399)**|**—**
**38,359**|**—**
**—**| ||**—**|**165,365**|**(203,724)**|**38,359**|**—**| ||At 1
April
2021
£|Income
£|Expenditure
£|Core cost
transfers
£|At 31
March
2022
£| |Family Space Project
Creative Arts Therapy Project|**—**
**—**|65,266
65,403|(84,689)
(78,751)|19,423
13,348|**—**
**—**| ||**—**|130,669|(163,440)|32,771|**—**| For those restricted funds which have allowances for “core costs”, the expenditure is charged to unrestricted funds which are then reimbursed via a transfer from restricted funds as shown above. The specific purposes for which the funds were received and applied in 2022 and 2023 are as follows: ## _Family Space Project_ Funds provided to assist with the Family Space Project. ## _Creative Arts Therapy Project_ Funds provided specifically as a contribution towards the costs associated with the Creative Arts Therapy Project. St Vincent's Family Project **31** **Notes to the financial statements** 31 March 2023 ## **10 Analysis of net assets between funds** ||**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**2023**
**Total**
**funds**
**£**|Un-
restricted
funds
£|Restricted
funds
£|2022
Total
funds
£| |---|---|---|---|---|---|---| |**Fund balances are**
**represented by:**
Fixed assets
Current assets
Creditors: amounts falling due
within one year
**Total net assets**|**2,020**
**25,395**
**(60,032)**|
**— **

**— **
**—**|
**2,020**
**25,395**
**(60,032) **|—
76,606
(66,958)|

—

—
—|—
76,606
(66,958)| ||**(32,617)**|
**— **|**(32,617)**|
9,648|
—|9,648| ## **11 Methodist Central Hall** St Vincent’s Family Project is connected to Methodist Central Hall by virtue of the fact that one of its trustees is a senior employee and trustee of Methodist Central Hall. Two other trustees are active members of the Methodist Central Hall. -  During the year the Project contributed service charges to Methodist Central Hall of £5,844 (2022 - £5,844), £487 (2022 - £487) of which was accrued at the year end. In addition, the Project paid rent to Methodist Central Hall of £22,800 (2022 - £22,800). £1,900 (2022 - £1,900) of which was accrued at the year end. -  During the year Methodist Central Hall gave a donation of £25,000 (2022 – £Nil) to the Project for use in meeting core costs. ## **12 Daughters of Charity of St Vincent de Paul Charitable Trust** St Vincent’s Family Project is connected to the Daughters of Charity of St Vincent de Paul Charitable Trust (the Trust) (a registered charity, Charity Registration No 236803 (England and Wales) and SC039155 (Scotland)) by virtue of the fact that certain of the trustees of the Trust are also trustees of DCSVP Services, the parent organisation of St Vincent’s Family Project. The Daughters have provided a 3-year grant to St Vincent’s Family Project to the value of £40,000 per year commencing in this financial year. This grant is for core costs. Cash flow loans of £29,500 was given by the Daughters to help with the cash flow of the Family Project and is repayable as soon as fund become available. Subsequent to year end, a further £25,000 has been provided. St Vincent’s Family Project is a subsidiary of the Daughters of Charity of St Vincent De Paul Services, which prepares group accounts, including St Vincent’s Family Project. The Daughters of Charity of St Vincent De Paul Services will pay £2,400 of the audit fee for The St Vincent’s Family Project (2022: £1,100). See note 3 for further detail. The registered office address of the Daughters of Charity of St Vincent De Paul Services is St Vincent’s Centre, Carlisle Place, London, SW1P 1NL. St Vincent's Family Project **32** **Notes to the financial statements** 31 March 2023 ## **13 Related party transactions** During the year, trustees made no donations to the charity (2022 –none). There are no other related party transactions requiring disclosure (2022 – none). ## **14 Operating lease commitments** At 31 March 2023 the charity had the following future minimum commitments under noncancellable operating leases in respect of a photocopier: ||**2023**
**£**|2022
£| |---|---|---| |Leases which expire:
. Within one year
. Between one and five years|**2,467**
**9,868**|2,626
2,626| ||**12,335**|5,252| ## **15 Liability of member** The charity is constituted as a company limited by guarantee. In the event of the charity being wound up its member is required to contribute an amount not exceeding £1. ## **16 Control** Control of the charitable company lies with its member and parent entity, DCSVP Services, a registered charity (Charity Registration Number 1149326) and a company limited by guarantee (Company Registration Number 07638065 (England and Wales)). The registered office of DCSVP Services is Provincial House, The Ridgeway, Mill Hill, London, NW7 1RE. The financial statements of DCSVP Services can be obtained from the registered office of DCSVP Services is Provincial House, The Ridgeway, Mill Hill, London, NW7 1RE. The financial statements of DCSVP Services can be obtained from the registered office. St Vincent's Family Project **33**