St Ifin¢ont' Fwnily Projo¢t Annual Report and Flnancial ststoménts 31 March 2024 Charty Registration Number 1142095 Company Registration Number 07638620 (England and Wales) .1 SVFP has been invaluable for myself & children. l attend the stay & plays and have completed both PPP and mloW par8nting and both have been extremely helpful. The environment Ihat the staff have created is one of family & inclusion. I am always made to feel welcome & valuedl I love it here.
Contents R•ports Reference and administration detai15 Trustees, report Independenl reF(¥t 18 Flnanclal Statemgnts Statement of financial actwities Balance sheet 23 Statement of ca$h flcA 24 Principal aGGounling policies 25 Notes lo the financrdl statemenls 29 Sl Vincent's Family Project
Reference and adrnlnostralivo details 31 Mar¢h 2024 Patron Lady Viola G Grosvenor Trust Philippa Gitlin IChair> TIM Hassell Teresa Crowley Sister Liz Ferrie DC Sister Ruth O'Nelll (appointed {April 2024) Sister Kathleen Kennedy DC Deacon Ali Mcmillan Ifeoma Okafor Rosemary Jackson Joanna Wormell Prln¢ipal offlce The Methodist Central Hall Sto$ Gale Weslminster London SW1HgNH Telephone: Fa¢slmilo: 020 7654 5351 020 7654 62 Company rnglstratlon numbor 07638620 (England and Wales) Charity rogistration number 1142095 Chlef Exocutlve Andrew Varley Audltor Buzzacott LLP 130 Wood Street London EC2V 6DL Banker8 Royal Bank of Scotland F4¢ 4th Fkr 2'A Devonshire Square LorKlon EC2M 4x1 Sollcttors Wedlake Bell LLP 52 Bedford Row London WC1R 4LR St Vincenl's Family Project
Trustees, report 31 March 2024 The trustees wesenl their statutory report together with the financkl statements of St Vincent's Family Project ISVFP or the Project) for the year ended 31 March 2024. This report has been prepared in a¢cordance with Part 8 of the Charities Act 2011 and onslitute$ a directors, report for the purposes of company legislation. The financial slalemenls have been prepared in accordance with the accounting policies set out on pages 25 to Errorl Bookmark not doflned. of the allached financial statements and Comply with the charll8ble company's Memorandum and Articles of Association, applicable laws and Accounting and Reporting by Charities.. Statement of Recommended Pract applicable lo charities preparing their accounts in accordance with the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 1021. History Sl Vincgnl's Family Project has its origins with th8 Spanish governmenl, who in 1975 set up a nehbourhood programme staffed by Spanish Daughters of Charty to work with families from Spain who were living in Londors. They provided them with support and formed a community lo help these young familtes. This eventually expanded lo include all families within the area when the UK Daughlers of Charity of Sl Vincent de Paul became involved in the project in 1996. The prolect 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 Inlegraled Leadership of the South Weslminst8r Family Hub and has links with different local providers, schools, faith organisations and tmjsinesses. The need lor our work South Westminster is an area of contrast ben wealth, history and power alongside stsrk soclal deprivation. Areas in Pimlico wards are within Ihe lop 10% of the Indices of Multiple Deprivation. 11 is an area wtth high pay gaps, the highest housing and childcare costs arKI homelessness. There are many drff8rent communities and languages spoken sitting amongst the povgrty. debt and insecure ts)using,' social isolation is a Significant problem in the area. Families with very young children have all the pressures of early parenthood, so it 1$ unsurprising we see relatsonship confiicts, huge emotional stress on families leading often to mental and physical health problems. Various evidence shows that children in We51minsler fare less favourably when it comes to obesity. oral hygiene. well-being, risk of involvement in crime and homelessness. Sl Vincent's Family Prolect 2
Trustees, report 31 March 2024 Prlncipal aims Sl Vincent's Family Project aims lo support families in Westminster especially those who a experienclng difficullles. The Project aims lo address the Issues of parenting. child welfare and social exclusion by providing servi¢es for parents and children. The charity's intended impacl 5$ developing resilience in families in their early years to have a lasting effect on their futures. It aims to offer an experlence of community that inspiTes, supports arKI enables sltive change in th8 lives of those who use 115 Servi. These aims refiect Ihe purposes for which the charity was set up. Publlc benefit The aims. objectives and activities of the Project are reviewed each year. As part of this process, the trustees have given ¢8ful ¢onsideration to the Charity Commission's general guidance on public benefit. The review of a¢tNities illustrates the w8ys in which the charity serves the public benefit. Valu•9 St Vincent's Famlly Project has six Vincentian values thal underpin our direct work with f8milies and children. These a.. W• ar• Respectlul.. We celebrate the uniqueness of the individual. We welcome diversity and treat everyone nonjudgmenlally with equal care and attention. We a Insplred.. We are committed to the nurturlng of families in the belief that positive chaThJe is possible in a caring and loving environment. We seek to empower people to meet Ihelr full potential. Wo are Travell•ts Together.. We are privileged lo accompany families through a significant part of their journey. They are the heart of our charity. and we work vthh them in a $pirit of mulualty and friendship, always ready to listen and leam from them. We are Professional.. We aim for the highest of standard5 in our work drawing upon 'best pral¢e, principles and programmes. We will always seek to improve the way we do things. We 4re Holi$ti¢.' We are concerned for the different aspects of people's Iwes and will provide supwrt wherever possible. We seek to be alert to identtfy emerging neeés and respond to them in a flexible and creative way. We are Comw$$ion&t•.' We use our resources for the benefft of the famllles always taking care to make o¢Jr seNices affordable and accessible. Family Spa¢8 Family Space is open daily to local families with children (from ag8 0-5) offering a range of facilities, a¢livilies. programmes and support available. We have very good facilities for children and families, to play, relax. share fc and receive support. For families on low incomes who need support. we offer a free crèche. We have a Sensory Rwm, where, amongst other thlngs, sessions are offered io families of children with special educational needs. St Vincent's Family Project 3
Trustees, report 31 March 2024 Family Spa¢0 (continued) For parents, throughout the year, SVFP offer a range of parenting and health courses designed lo fit different needs. in group settings, which help parents to realise they are rt alone in the many challenges and responsibilit facing them. Al Family Space we also offer SUPE to families on low incomes who may be having prOeMS with housing, debt, s¢hools, relationship or legal issues. Our service is grealty enhanced in this area by joint working with local agencies from the Earty Years Family Hub. Westminster CAB, Marylebone Educational Foundation and the Westminster Foodbank to name some. Throughout the year we offer different fvn family activities. including monthly Irips, lo help families develop, make friends and build confidence. Theory ofChangeTr Famity Sp8¢• SAFE SPACG A pla-p li) I)ri,1(An8 chiiorer, IlNg1 Is weJL-orning, itylijces y>c'.a( iso. illcn. IS safe arTO IYCèLiswe Ji RESILIENT FAMILIES SUPPOR T SuppDr:',s cor,fidentiaL onstigmaioin& av¢Thilable when families ore reatyfor Ir srrolls. holisiii. and lexibie rMsRAPY LEARNING To have expen h&p to ovwcome Lleep ryJoted probl3 thai prerfeTr tamili ftom bclngiheir besi With others (o gain knowledge. skil& a& confioence Èo we d)Ildren Ihe best experlence of parenting ihey can he. Prograrnmos, A¢tiviti¢s and Events Parenting Programmes Parenting programmes have been our main group programme throughcojl the year and very directly related to our alm lo help families achieve resilience by helping them develop the skills. confidence and knowledge to create and maintain a strong family bond. Indeed, we still h8ar from parents years later using the same techniques even as their chiklren are older. Again, we concentrated on the Positwe Parenting Programme. whrch is an excellent allOund course for any pant, aFKI Mellow parenting for Mums that allows a more discusslve group aimed al dealing with the deeper trauma which some mums have experienced which is affecting Iheir confidence as a parent. Parents who attended were able lo utilise our free crèche to allow them lime. St Vincent's Family Project 4
Trustees, report 31 March 2024 Programmes, Acllvltles and Evonts (continued) Healthy Llvln9 Friday mornings have been for our Healthy LNing sessions again this year, with exercise classes run for mums followed by a session covering a range of health-lated subjects for families, particulady nutrition and dentsl hygiene. an area where children from Westminster lend to compare unfavourably with Ihe population as a whole. Last year we increased our provislon of exercise-based support, simply through popularity. Our exercise Goach helped evelop personal fitness plan5 for mums, $0 they Could carry on improving outside of the weekly sessions. Ané we also ran a programme on Thursdays for fitness for the whole family. Welfare Support The impact of the cost of living on local familiès continued this year, seelng more familles who were slruggllng wlth baslc costs. Noticeably we started lo see more familie5 who had an adult in work andlor who owned their own home$ seeking support. This is alongside more usual familie$ in rented accommodation wth no adult in WOTk. Much of our help wa$ providing one lo one guidance to emergency funds or directing those with more complex issues lo specialist advice. We continued lo have surgeries from Westminster CAB, as well as worklng closety with Cardinal Hume Centre for Immigration Law advice and Shelter for Housing related issues. Again, with funding from St. Marylebone Educational Foundation we helped with costs toward s¢hool unrforms for 37 families unable lo access other schemes and on a low income. Crèche Crèche allowed us again to be able lo ¢)ffer parents the time lo attènd programmes, one-to- one support OT io have a break to do whatever they wanted. But il is also where we can observe and support children to develop their social arKI language Skills, $0 they are approprialely developed and confident when they reach school age. This year we We lucky enough to be able to run sessions from November at Tale Britain on Mondays. This gave families the opportunity to be based in a fantastic location. Events and Trips Celebrations. trips and communty events are an important part of supporting families. because it reduces social isolation, allows parents lo give their children a treat they may not be able to afford and provides rdief from stress. It also helps famllies to bulld trust with us befo they consid&r asklng for help or joining a parenting group. Feedback in the last Gouple of years post Covid-19 and during the cosl-of4wing ¢ri$is show these are as important to families as the pra¢li¢al, learning or therapeutic help we provide. Therefore, as well as offering a monthly trip we were able to provide a number of ev8nls over the year. These included: Trips to Mud¢hule Fam), Kew Gardens, Greenwich {on boat), a guided tour of Westminster Abbey and Southend on Sea. Familie$ had special s(¥eenings at Vue Cinemas, rec8ived an art workshop with the National Portrait Gallery, Gompeled in a Summer Olympics in St. James Park and leamed how lo make Sushi and have an Eritrean Tea amongst other things. We provided fun ¢eletrations for seasonal events such as Easter, Halloween, Valentine's Day. the Feast of Vincent De Paul and Pancake Day. st Vlncenl's Family Project S
Tru8tees' report 31 March 2024 Programme6, Actlvltles and Evonls {continued) Events and Trips (continued) And again, we were able to offer a range of Christmas activities whth familles of all or r faith enjoyed. Alongside 25 hampers distributed to famllies. there was a trip to Winter Wondertand, a Christmas Brunch for mums and a grotto and party attended by 42 families. We were able to distribute over 100 gifts lo children over the period. Themes As indicated, the cosl-of-INing crisis has been a focus for us, particulady in the colder months, with increased fuel bills. That we have had 32 families getting one-to-one support is an indication thal we have continued to have families with 'complex' needs, i.e., more than one and of our growing ability lo support them. Partnerships, because of the increased complexity of support, have been a theme for us Ihis year. Our focus has still Mlned on the need lo develop a family's resilienGe, so rather than ty to add other specialisms we have utilyzed local and other partners for skills and resources. Being able lo rewopen our Drop-ln has reinforced the value to us of belng a Community for Ioc81 families. Many families have expressed the benefit of having somewhere lo go, develop social networks and feel supported, let alone getting all the 5peGrfiG 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 a¢tNities that promote physical and mental health, which we have done through year. Outputs and Outcomes 180 families were supported by SVFP over the year. Which Westminster wards are people living in? Jw St Vincenvs Famity Project 6
Trustees. roport 31 March 2024 Outcomes Reduclng Soclal Isolation 100Yo of families agreed or strongly agreed that SVFP helped them overall reduce soclal isolation. 67¥0 of families agreed or slrongly agreed that SVFP helped them to Increase the support they received other local services. 84 % of families agreed tr strongly agreed that SVFP helped them to incfease the number of friends or peers they had. Reduelng Stress. Anxlety or depresslon 100% of families agreed or strongly agreed that SVFP helped Ihem to reduce stress. 93% families agreed or strongly agreed that SVFP helped them to reduce anxiety. 54% of families agreed or strongly agreed that SVFP helped them reduce dewession. 80% of famllles agreed or strongly agreed that SVFP helped them improve their low mood. Improving Parenting 67 % of families agreed or strongly agre1 thal SVFP helped them Improve thelr confidence in parenting. 67¥0 of families agreed OT Strongty agreed that SVFP helped them Improve their knowledge and skills in parenting. Reduclng Famlly Confll¢t 40Vo of familles agreed or strorvJly agreed that SVFP helped them improve family relationship5. The remaining 60°/0 were Neutral, which may mean we had no influence or there were no real confiicts which we could have affected. 33Yts of familigs agreed or strongly agreed that SVFP helped them reduce arguments in the home. 130h expressed they disagreed and the Ma1nder were Neutral. Children's Development 67Yo of families agreed or strongly agreed that SVFP helped them with their child's lan9uage development. 87% of families agreed or strongly agreed that SVFP hdped them improve their SOGial skills and confidence. 800A of familleg agreed or strongty agieed that SVFP helped with improving their chlldren's behaviour. St Vinc&nl's Famlly Project 7
Trustees, report 31 March 2024 Fdback Comments O The best proJe¢l whiGh ch8nged our lif81 SVFP has been invaluable for myself & chiklren. l attend Ihfr stay & plays and have completed both PPP and Mello¥v parenling and both h8ve been extremely helpfvl. Th& nvmnment that the staff have cr8aled is one of family & inclusion. 18m 8Iw8ys made to feel welcome & valuedl I love it here. I love being here becaus& there ar8 so many lessons parenting to be better. I leamed a lot. O I would love to spend more tim& at St Vlncent, but l also need to wash dean house ¢hores. I c8nl do stuff for home rfl come to Sl Vinc&nt lol. / Nice h8ndly helpfvl. O Amazing staffl is so hard to find the place where we can be safe with children and talk and exchange the inforMatn wilh oth&r mum. But her& is the place St Vincent..) o Thank you for this service. O I love the activity during holiday time. l can take kS and littl8 one t(wther. 4 Playgroup Is a gre81 place for par&nts with youn9 children. Both ben8frt from th8 $8ssions which really hglps ?t what Can be 8 stressful time in life. O Having the opportunty to m1 wrfh and speak with otherparents helps to socialise. Croativp Arts and Drama Therapy SVFP supports chiklren of Primary School Age in Westminster through the use of Creative Arts and Drama Therapy whose education is being affected by emotional, mental or behavioural problems. The use of play enables young children to be able lo settle and Communicate drfficull fe8ling5 Wlth Ihe Iherapist. Often, as a side benefit it also helps to slimulale inleTrst in the arts. Recent years have seen our work flu¢bJate because of Covid-19 and demand$ on school funds. The St. Giles and St. Georg8 Education Charity have been able to part-fund schools, but there are always some schools who are unable lo fund provision. This year wag more stable than previous years wth us working in 8 Weslminster Schocls, including a new one for us Soho Parish School. Our approach has been lo provide a dedicated Iheraplsl lo each school with the intention of, Dot jusl offering therapy sessions, but being a part of the school and being accessible for teaching staff lo discLSSS concerns. Therapists work closely wlh teaching staff and also families, as often i55ues are triggered by what is happening in the home. St Vincenys Famity Project 8
Trustoes, report 31 March 2024 Creatlve Arts and Drama Therapy l¢onlinued) This year we provided regular therapy support to 8 Westminster Primary Schools, for 37 chil(iren dealing wlh a variety of issues. In addition, 7 families. users of our Family Space recelved ongoing creative arts therapy for supportwlth trauma. We were also able to run a pilot program based at Si. Andrews Youth Club woviding therapeull¢ art dasses for attendees been 14. The sessions were not therapy but were focused on well-being and over 10 weeks had an average of 10 young people per session with some positive feedback. The aim of the project wa5 to respond lo the demand for mental health support for young people in Westminster by offering a less intensive prev8nlative seNice easily accessible. Al the lime of lting, we a hoping lo find funds to contlnue thls. Theory of Chang•- Creatlve Arts Therapy Creative Arts and Drarna Therapy to MIls oFsires% beiry Art&Cromo OT or¥ll* or& tmrw Volunteer Space We have a robust volunteering programme that provides a range of volunteerlng acllwties for local residents, corporations, therapeutic placements, student interns and those wanting lo make a difference within the community. Companies that have supported us thls year have been Draker LettiNJ$, PGIM, and Step. particularly raising funds or goods for family events. Roles include direct work with families. administration, marketing an¢J fundralsing. Volunteers can see how a charity works within an urban. hyper-diverse context. + Volunteers discover our Vincentian values and Can Incorporate them and their corresponding behaviours into their good reflective praclice. St Vlncenvs Famlly Project 9
Tru8tsos' report 31 March 2024 Voluntoer Space (continued) • We had 35 volunteers in total including 6 students from OMNES Education London School, 2 students from University of Essex. 2 from Royal Central Schoot of Speech and Drama, 1 from King's College London and 1 student from CAPA, The Global Education Netsrk. • 3116 hours of volunteered time to the charity. valued al £ 43,289.8 (ba$&d on London Llving W8ge) • Involvement.. parentlng courses, healthy living course, 1..1 support, fitness sessions. Drop- In sessions, crèche, dentsl workshops. outings. events such as Christmas party, sports day, social medla and communication, outreach, database managemenl, small fundralsing, decorating of the project. and filming and video editing • 9 Trustees gave lime outside of the scheduled board meetings and planning days during the year Equal opportunltles St vinnt'S Family Project strw8s lo apply the principle of equ81 opportunlties throughout the organisation, and to thal end regularfy revkn Its Equal Opportunikn'es & Diversty Policy. The chaiity is please(I to welcome families, espec6ally th09e experiencing dlfficuhies, irrespe¢tNe of age, sexual orientstion. ethnic origin, gender, religion or ststus. Its aim is always to help those who would otherwise firKI th&mselves marginalised and excluded from the means of support they need. The charity aims lo apply equal opportunllles for both paid staff and volunteers. Safeguardlng The charity recognises the need lo 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 protectM)n and safeguarding iSSLtes. As part of their induction process, they are required to read the charws policies vthin the Employee Handbook andlor SVFP Pollcy Folder. Fundralslng This year we did manage lo ra15e more income than th8 prevlous one. Thin9s were easier because, following the previous period's economic crisis, 2023-2024 wa5 more prediclable. However. options for grant funding are drfficult and challenging. so we began lo invest in developing our longer tem capacity al the end of the year by bringing in a consultant to help us going forward. Thi5 last year we were particularfy pleased that we were able to attract core fundlng and also to have a successful fundraising campaign based around a bakiro competition supported by Draker Ltd. Sl Vin(nt's Famity Project 10
Trustees, report 31 March 2024 Financlal revlew Resufts for the year A summary of the results for the year to 31 March 2024 is given on page 21 of this annual rewrt and financial slatemenls. During the year, in¢ome lotalled £329,098 {2023- £318,081). Donation income amounted to £319,41312023- £307,389). Expenditure lotalled £340,30312023 - £360.346} and included staff costs of £251.935 {2023 - £280.851). and premises costs of £40,840 (2023- £36,277). Flnanclal posltlon At 31 March 2024 the charity had total negative funds of £43,822 {2023 -£32,617). AJI funds were unrestricted. Reserves pollcy The charity is highly committed to ensuring a continuing service lo the children and families reliant on tts seNices. In order to provide sufficient flexibility to cover temporary Shortfalls in income due lo timing differen$ in cash flows and lo respond lo unforeseen events, the trustees aim lo maintain general reserves equal to at least three months of expenditure, which equates to approximately £.000. The reseNes of the charity are currently below this poslllon. Going eoncwn assessment The year ended with a cumulative def11 on unreslricled fvnds for a second year in a row. However, there was considerable progress by the charity towards reducing the larger deficil position from the previous year, which arose largely due to the effect of the economic crisis. There was a nee(1 lo ¢onlinue to utilise loans in 202>2024 to manage the effects of the cash flow difficulties of the previous year, which had been a particular problem. In June 2024. the charity exp8ri8nced a cashflow shortfall resulting in insufficient funds to meet the expenditu for the month. The Daughters of Charity of Sl Vincent de Paul CIO generously gave an emergency grant of £5,000 lo cover the salary costs whilst a deasion was made lo defer the remaining expenditure. At the time. there was also some uncertainty around the income for July arKI August 2024. On seeking immediate prof88sional advice, the Board suspended all operations and issued notices of redurKlancy to all staff. Long-standlng grant making foundations and trusts were informed of the stbjalion and some of them offered support on the ¢ondilion the Board was confident that the proje¢t ¢ould continue as a going concem. Emergency grant fvnding of £50,000 was applied for from Westminster Community Support which was received and at the same lirne the charrty was notrfied of an award of £20.000 from the Natior1 Lottery lo use the sensory equipment room for support work with families whose children had delayed development or mild $pe¢ial needs. Sl virnt'S Family Project 11
Trusteos, report 31 March 2024 Flnanclal revlew (conlinued) Going concern assessment (conlinued) In the following weeks. the Board considered several proposed restructurlng optSons for restoring services. On reviewing the detailed proposed cash flow forecasts and proposed budgets relating to the proposed staffing structures, while at the same lime taklng professlonal advice lo 8nsure appropriate decision maklng, al the end of July the Board agreed a reduced staff structure and approved a proposed budgel. Every month, the Board will monitor the progress of the actual irKome and expenditure against the budget and the progress of the actual cashflow against the cashfiow ftyecasts. Thls has been pul in place in order lo anticipate well in advance any reduction in income and cash and lo take appropriate action. Havlng reviewed the available evidence, the dlrectors and truslees have concluded that although there is material uncertainty related lo current prol8ction$. 11 Is appropriate for the charity lo continue lo prepa thelr a¢counl$ on the going concern basis. Futur• plan8 Through 2024-25, St VirKenl'$ Family Project will aim to achiev8 the following objeNe$= Continue to reach out to as many vulnerable families, to be aware of us and to encourage them to come lo restore the project as a community for families. Continue to utilise partnerships to offer a varled and responsNe service. Continue to develop a package of help that will support familieg most impacted by Ihe cosl-of-living cris1$. utilise volunteers and Students to support the efficacy of our programme. Develop a complete fundraising plan to help build the charity reserves ov8r the next 3 years. Explore more use of corporate support for volunteering and IrMe generation. Gov•rnanco, Structure and management Govemanc• The charitable company, whlch is governed by a Memorandum aT¥J Articles of Association, was Incorwrated as a company limited by guarantee (Company Registration Number 07638620 (England and Wales)} on 18 May 2011 and is a registered ¢harty {Charity RegistratK)n Number 1142095). The sole member of the company, and thus its parent entity, is DCSVP servi$, a wistered charlty {Charity Registration Number 11493261 and a company limited by guarantee (Company Registration Number 07638065 (England and Walesll, set up by the Daughters of Charity of Sl Vincent de Paul, to safeguard the Vincentian ethos in various prtsjects Such as St Vincenys Family Project. In the event of St Vlncenys Family Project winding up, the member Is required to (ntribUte an amount not exceeding £1. St Vincent's Family Project 12
Twstses, report 31 March 2024 Governance, stru¢tur¢ and management {continued) Govemance {continued) Potenlial SVFP Irustees are sourced via suggeslions from the Chair, trustees and the Chief Executive. Potential ¢andidate8 are then interviewed by the Chief ExecutNe whh an inltlal 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 lo make a Short statement lo the Iruslees, followed by questlons and answers by the candidate and Iruslees. The trustees take a majortty vole on whether lo accept the candidate as a Iruslee. A new trustee must be approved by Ihe 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 p8ge 1 of this report and financial statements and brief biographical details on each of the trustees are glven below.. Te$8 Crowley Teresa works as a Pastoral Liaison orrr2r and Careers Leader at Notre Dame School. In both roles she deals with outside ageleS and is a school liaison for many drfferent businesses, charities and local authority agencies. Teresa has a degree in Sccial Sciences aThJ a Post Graduation Qualificatlon in Careers Leadership. She loves her job at Notre Dame working on enrlchmenl projects wth the students whi¢h include programmes like- an art project around the First World War that was exhibrted al The Guildhall, a dance project with Rambert which saw the students perfomi at their studio and writing a book of memories with th8 local eldedy day centre. Sister Liz Ferrie Sister Liz Ferrie has served the Daughters of the Charlty of St. Vincent De Paul for 53 years. She Is both a qualrfied Nursery Nurse and RGN for adults. Her working life is one of caring for people of every age and conditions. She has also trav&lled conslderably for her work for humanitarian causes.Having spent 6 years in Paris as English speaking Se¢tsry she retumed lo 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 lo other charities in the UK. She was also until recently a trustee of FARA Foundation UK, a charity suppjrting servws lo severely disadvantaged children and families living in poverty In Romanla. &ster K8thleen Kennedy Sister Kathleen Kennedy entered the Daughters of Charity of St winnt de Paul in 1966. She work&J in residential child Ca for fourteen years. after which she ran a pre-school group in a primary school setting. She qualified as a teacher wth Bachelor of Arts with Qualrfied Teacher Status IBAQTS) and taught in an inner city primary school for sixteen years. She worked as part of a city wide Evangelisalion Team In Hull before being appointed lo the Provincial Council of the Daughters of Charity. Sl Vincenvs Family Project 13
Twstfjes, report 31 March 2024 Govornanco, Structuro anfl monag•mont (continued) Govemance (continued) De8¢on Ali Mcmillan Deacon of the Methodist Church al the Methodist Central Hall, Weslminsl8r, Deacon Ali Mcmillan had been a Teacher in Secondary Schools and Sixth form colleges before loinlng the ministy- She has through her pastoral activities worked with all age ranges in the community. Ifeoma Ok8for Ifeom8 Ok8for's Tr$t degree w8$ In MrOb1010gy. but she then wenl on to Gomplets an Msc in Financial Economics. She cuffently works as a Senior Financial Reporting Manag8r in the Financial SerV&s industy. She has 8 b8ckground in supporting Gharities work and GoaGhing people into employment. Joann8 Wormell Joanna Wormell, having completed a first degree in Russian, was admitted as a solicitor lo 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 Compllance, Capltal Resolution. Though a very experienced traveller she lives in South Westminster. Rosemary Jackson Rosemary Jackson works al Mastercard International and holds the position of Sr. We President. Real Time Payments Solutions. Working for Mastercard for 20 years, based tyjl of Sydney. Singapore and now London with experience across various roles VerIng sofiware management, customer proje¢t implementation. business analysis, migration of core banking systems. testing and release management, working do$ely wth bank$ in the UK, Nordics & Baltics, Middle East Africa and Asia Pacrfic markets. rim Hassell Tim Hassell is the Managing Director of Draker Lettings, a propety lettings company in Wesl London. From modest origins in Liverpod. Tim has always been motivated lo pass on the kindness and support he experienced growng up and getting to where he is. He has been a Tnjstee for the Breast Cancer Tnjst and Robert Grace Trust. Structure and management reportlng The uttimale responsibility for the Charity lies wilh the Iruslees. The day-t¢>day management is delegated lo the Chief Exe¢utive. Meetings are held regularly with the trustees, service users and the staff team to ensure the quality of $eNice and the aims of the charity are b8ing met. Key management The trustees consider that they logether with the Chief Executive comtsyise the key management of the charlty in ch8rge of directing and cortrolling, Tunning and operating the charity on a day-to4ay basis. The pay of the Chief Executive is reviewed annually by the tru51ees. Sl Vincenvs Family Project 14
Trustees, raport 31 March 2024 Govemance, Stwre and rnanag¢m¢nt {continued> Risk management The Iruslees undertake an annual review of the principal T13ks and uncertainties that the charity faces categorising the risks beeen those affecting the governance and management of the charity, operational riskg, financial risks, reputational risks and those whlch occur because of circumstances outside of the ch8rity's control such as changes in government policy, laws and regUlatnS. They regularly review the measures already in place, or needing to be pul in place, to eslablish KK)Ilcies. systems and procedures to mitigate those risks IdentWl8d In the annual review and ensure that aclion is taken to implement changes to those policies, systems and prOdre$ should they be needed to minimise or manage any polenlial impact on the Char should those risks materialise. Th8 trustees have idenlrfied five main areas where risks may occur. governance and management, operational, financial, repUtatnal and regulatory. Govoman¢o and management considers the risk of the tharfty, sufferlng from 8 lack of direction, al the skills and training of Ils members and staff, and the good use of ils resources. Op•ratlonal considers the risks inherent in the charltys acllvlties including any potential shortcomings in the servlces provided. staffing. poor health and safety. and the disaster recovery plan, elc. Flnanclal risks Include those arising as a result of poor budgetsry control, Inappropriate spending. poor accounting, elc. Rèputatlonal risk would be possible damage to the charity's reputation. Regulatory risk considers Ihe effects of government policies, the consequences of non compliance wth laws and regulations and poor risk assessment. Having assessed the major risks to which the charity is exposed, Ihe tru$lee$ belleve Ihal by monitcffing r8serve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by thg tharity, they have established effe¢ttve systems to mitigate those risks. However, they acknowledge also that the tharity's aclivities expose it to a variety of financial risks. The charty has in pla¢e a risk management programme that seeks to Identify and mitigate the effects of the risk on ils finances. The principal financial risk remains the impact of the general economlc conditions 8nd its impact on charitable funding. Whilst the current level of funding for 2024-2025 Suggests that the charity will reach its IrMe targets. the trustees remain mindful that continued efforts need lo b8 made lo attract new fijnding and addilional income streams. The other key risk for the chartty, as idenlrfied by the Iruste&s. arlses because operationally the charity works wilh children and vulnerable adults. The trustees recognise the absolute necesslty of ensuring the protection and safety of all those that Ihe charity serves. This means that all those who work or volunteerfor the charity and work with children or vulnerable adults musl obtain clearance from the Disclosure and Barring SeNice (DBS). Sl Virttnl's Family Prolect 15
Trustees, report 31 March 2024 Govornance, structuro and managwngnl Intinued} Statoment of trustees. responslbllltles The Iruslees (who are directors of St Vincent's Family Project for the purposes of company lawl are responsible for preparing the trustees. report and financial slalemenls in accordance with applicable law and Unlleé Kingdom Accijunting Standards (United Kingdom Generally Accepted Accounting PTaclice). Company law requires the trustees to prepare financial statements for each financlal year. Under company law the trustees musl not approve the financial statements unl8s$ they a satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the inGome and expenditure of the charitable company for Ihal period. In preparing these finanGial slatement$, Ihe trustees are required lo: select suitable accounting lIcIeS and then apply Ihem ¢onsislenly. observe the methods and principles in the AGcounting and Reporting by Charities.. Statement of Recommended Practi applicabse lo charities preparing their financial statements in accordance wlh the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland {FRS 1021., make judgements and eslimates that are reasonable and FKudenl. state whether appliCae United Kingdom Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financbal statements,. and to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accurw al any lime the financial position of the charttable company and enable them to ensure that the financial stalgmenls ¢omply with the Compani85 Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonab18 steps for the PventIon and detection of fraud and other irregularibes. Each of the trustees confirms Ihal.. so far a$ the trustee is aware, there is no relevant audit infomiation of which the charitable company's auditor is Unawa,. and the trustee has taken all the step5 that helshe ought to have laken as a Iruslee in order to make himse}herSelf aware of any relevant audit information and to establish that the charitable company's auditor is aware of Ihat inf0MtiOn. St Vincent's Famity Project 16
Trustees, report 31 March 2024 Governance, stru¢turo and management Iconlinued) Statem•nt of trtlee$. responslbllltles (continued) Thlg confirmation is given and stK&uld be interpreterj in accordance with the provisions of s418 of the Companies Act 2LNJ6. Approved by the trustees and signed on their behalf by.. krtki ffeA NJ Philippa Gitlin Trustee Approved by the Iruslees on.. 21 October 2024 St Vincent's Famity Project 17
Indep¢ndont audltoVs report Year to 31 March 2024 Indwèndent audltorf8 report to the member of St Vlncont's Famlly Project Oplnlon We have audited the financial statements of Sl Vincent's Family Project (the '¢haritable company'l for the year ended 31 March 2024 which comprlse the slal8menl of financial activities. the balance sheet, the statement of cash flows. the prin¢ipal a¢¢ounting policies and notes to the financial slatemenl$. Thefinancial reporting framework that has be8n applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Slan(lard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, {United Kingdom Generally Accepted Accounting Praclice)- In our opinion. the financial statements: • give a true and fair view of the stale of the ¢haritable company's affairs as at 31 March 2024 and of 11$ income and expenditure for the year then ended,. • have been propedy prepared In accordance with United Kingdom Generally Accepted Accounting Practice., and • have been prepared in accordance wllh the requirements ofthe Companies Act 20C6. Basis for opinion We conducted our audit in accordance wrth Intemational Standards on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are fvrther described In the Auditor's r8sponsibililies for the audit of the finan¢l81 $latemenls section of our report. We are independent of the charitable company in accordance with the ethiol requirements that are relevant lo our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibillties in accordance with these requirements. We belFeve that the audit evidertt we have obtained is Sufflent and appropriate to provide a basis for our opinion. Matarlal uncertalnty related to golng concorn We draw your attention to the accounting policy on pages 25 and 26 of the financial statements regarding going concern, which sets out the material uncertainties related to going con¢em. Further details surrounding Ihe uncertainties are outlined on pages 11 and 12 of the Trustees, report. Other Infomiatlon The Iruslees are responslble for the other information. The other inforrnalion comprises th& information included in the Annual Report and Financial Stalemenls. other than the financial statemen15 and our auditor's rewrt thereon. Our opinDn on the financial statements does not cover th8 other information and, except to the extent olhewise explicit stsled in our report, we do not express any forni of assurance conclusn tron. Sl Vincent's Famity Project 18
Independent audltor's report Year lo 31 March 2024 Othèr Infornlatlon {conlinuedl In Connection with our audit of the financial statements. our responsibiltty is to read the other information and, in doing so, consider whether the other infomiation is materially in¢onsislent with the financial slalements. or our knovledge obtained in the audit or otherwise appears to be materially misstated. If we identfy such material inconslstencies or apparent material misstatements, we are required to delermlne whether there ts a material misstatement in the financlal statements or a material misstalemenl of the other infom)alion. Ir, based on the work we have performed, we Gonclude Ihal there is a material mi5Statement of thi$ 01 infomialion. we are quired to report that fact. We have nothing to report in this regard. Oplnlons on othor mattors prescrlbed by the Companios Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the iTrformation given in the Irustees, report for the financial year for which the financial statements are prepared is consistent with the financlal stslemenls,. and the tru$tees' report has been prepared in accordance with applicable legal requirements. Matt•rs on vthich w• are roquirod to réport by exception In the light ofthe knovAedge and understanding of the charitsble company and ils environment obtained in the course of the audit, we have rt idenlrfied material misslalements in the trustees. report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf. in our opinion.. • adequate accounting re¢ords have not been kept- or • the financial statements are not in agreement with the accountlng records and retums,. or • certain disciosures oflrustees. remUatiOn specified by law are not made,. or * we have not received 811 the information and explanatn8 we require for our audit- c • Ihe thJsle8s We not entitled to prepare the financial stal8ments in accwdance wlth the small Company's regime and tak8 advantsge of the small companies, exemptions in preparing th8 trustees, port and from the requirement to prepare a strategi¢ report. Respon61bllltlos of twsteO5 As explained more fulty in th8 Statefflenl of Iwstees. responsibilitv8s, the trustees ¥e pOnsIb 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 Iruslees determine is necessary lo enable the preparation of financial statements that a free from material misstatement, whether due to fraud or error. In preparing the financial seMentS. the trustees 8re responsi1e for assessing Ihe charltable Company's abllty to continue as a goiro concem, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or have no realisti¢ alternative but to do so. St Vincenfs Family Project 19
Independgnt auditor's report Year to 31 March 2024 Audltor's responslbllltles for tho audlt of the flnan¢ial sL1t•mt8 Our objectives are to obtain reasonable assurance about whether the financial slatemenls as a whole are free from material misstal&ment, whether due lo fraud or effor, and to issue an auditor's report that Includes oT opinion. Reasonable a5suran¢e is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when il exists. Mi$stalements can arise from fraud or error and are considered material rf. individually or in the aggregate, they Could reasonably be expected lo Infiuence the economic decisions of users taken on the basis of these financial statements. Irregularflles. Including fraud, are instances of nonmplIance wth laws and regulations. We design procedu in line with our responsibilities, oulline(l above, to detect materlal misstalem8nls 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 identfying 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 Siatulory Auditor ensured that the engagement team collectivety had the appropriate competence. capabilities and skills to Idenllfy or recognis8 non-compliance with applicable laws and regulations,. and + we obtained an understanding of the legal and regulatory framework5 thal are applicable to the charitable company and determined Ihal the most signrficant frameworks which are directly relevant to specrfic assertions in the financial statements are those thal relate lo the reporting framework (Statement of Recommended Practice.. A¢¢ounling aThJ Reporting by Charf(ies preparing their aCcnts in accordance with the Financial Reporting Standard applicable in the Unrted Kingdom and Republlc of Ireland IFRS 1021 and the Charities Act 2011. We assessed the susceptibility of the charty's financial statements lo material misstatement, including obtsining an understanding of how fraud migm occur, by.. making enquiries of management as to their knowledge of actual, suspected and alleged fraud", and • considering the internal controls in place to millgate risks of fraud and non-compliance wllh laws and regulations. To address the risk offraud through manag8ment bias and override of controls, .. • performed analytical procedure5 to idenlrfy any unusual or unexpected relationships. • caThied out substantlve testing of expenditure including the authorisalion thereof. • revlewed Journal entries to identify unusual Iransa¢tions and substantiated these where appropriate.. and • assessed whether judgements and assumptions made in determining the ac¢ounting estimates were indicative of potentkgl bias. St Vin¢enl's Famlly Project 20
Independent auditorf8 r•port Year lo 31 March 2024 Audltovs rgsponslblllll95 for the audit of th?financlal statements Icontinuedl n response to the risk of irregularities and nonp¢ompliance with laws and regulations, we designed procedures which included, bul were not limited to- • review of the minutes of meetings of those charged with governance" and • enquiring of management a$ to a¢tual and potential liligalion and claim5. There are inherent limitations in our audit procedures described above. The more removed th* laws and regulations are from financial Iransaclion$, the less Ilkely It 19 that we would become aware of norb-compliance. Audillng standards also limit the audit procedures required to identrfy non-compliance with laws and regulations lo enquiry of the trustees and other management and the inspection of regulaliyy and legal correspondence, if any. Material misstatemenls that arise due to fraud can be harder to detect than those that arise from error as Ihey may involve deliberate concealment or collu$ion. A fvrther description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.ukJaudilorsrespon$ibilll. This description forms p8rt of our auditor's repcrt. Use ol our report This report is made solely to the charitable company's member, Sn accordance with Chapter 3 of Part 16 of the Companies A¢1 2006. ()Jr audit work has been undertaken so that we might Slate lo the ¢haritable company's member those matters we are required to state to it in an auditorfs report and for no other purpose. To the fullest 8xlenl pemiltted 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 Peter Mackereth {Senior Slatulory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 25 October 2024 St Virn1'S Family Project 21
Statement of financial activilles (Including incom¢ and exp•ndfturn account) Year to 31 March 2024 Ur re#trkted Rostrkted funds lunds 2023 Tot81 funds Total re5tricled Resthcted funds fvTrY5 fvrxls Incom•: DonBlonsandgrants sank Int81 Crèchand¢i&aOveArt Therapy fees Mis(lanS Total Income 132.031 421 187,382 319.413 421 147.393 91 1, 307 5.291 5.291 5.310 318,081 5,232 152,716 132.452 196.616 329,096 165,265 Exp8ndir#.' Charltsble all . Provi8ionofwvlc88to VulneraNela1lle5 9&679 243.024 340.303 96,879 243,624 156.622 156,622 2Q3,724 360,346 203,724 360,346 Totsl ¢xpondiiur• N•t•XPondlture b8for• trnn¥frs 3S773 146,9781 111.205) 13,W61 138,3591 1422651 Transfws bgknveen bjrds 40.978 38,359 N•t •xp•ndMuro and n mLivemenl In fvndl f¢4rth• yw {113051 111.20• 1422651 1422651 RoconClMatknoflws. Balan¢ebroughtfrMward al 1 April 2023 Batant•tarriÈdfO8rd at 31 MarGh 2024 617 617 .822 32.617 32.617 All recognised gains and losses are Included in the above statement of financial activities. All of the ¢h8rity's activities continued duriro the above Iwo financK81 years. St Vincenvs Family Project 22
Balanco sheet 31 March 2024 2024 2024 2023 2023 Nt)tés Fixed •¥¥tts: Tangible assets 1,347 2,020 Current assets: Debtor Cash at bar* 8nd in haThJ Totsl eurrnnt a88ets 9,203 5,390 14.593 16.542 8.853 25.395 Llabllltlo$: cditorS.. amountsf&lling due within one year Net curront (Ilabllltl•81088¢ts {59.762} 160.0321 {441891 (34.6371 Total nèt Illabllhhsl ass•ts (43.8221 {Y2,6171 ReprtSont¢d by: The funds of the ¢h•rlty Restricted funds Unrestricted fijnds . Gengral ftjnd T¢i•l charity funds {43.8221 {43,8221 {32,6171 132,6171 Approved by the trustees and signed on their behalf by.. knki¢FA &TLI AJ Trustee Philippa Gitlin Approved by th8 trustees on.. 21 October 2024 St Vincent's Family Project- Company Registralion Number 07638620 IEn9land aThJ Wales) St Vincent's Family Project 23
Statement of cash flows 31 March 2024 2024 2023 Cash flows from operating activiti•8: Net cash used In operallr4J actwities 132.9631 165,49ti Cash fl4)W8 from Invo8tlng act1v1tl. Purcha$8 oftsnglble fixed a&sets 12,6931 Caih fltsws from financlng a¢tlvltl•s: Cash inftows from ngw borrowing 25,000 Chango In ch and •quivaknts In th• year 13.4831 143.1841 C88h and ¢a•h oqulv8lents at 1 Aprtl 2023 8,853 52,037 Co$h and cash •qulvalents at 31 March 2024 5.390 8.853 Noto8 to the slatomont of cash flows for the year to 31 Mar¢h 2024 A R¢¢onclllatlon of net movement in funds to nèt cash flow used In operatlng activities 2024 2023 Net movgm?nt in fvnds {as por th• statemont of ffinan¢i4 aetivitlé81 AdJustrnI•, Depreciation charge Dgcroasè In debtors (Decreasel in cr&JTtors Net cash used In operatlng acdvltlo 111.2051 142.2651 073 673 7.339 29.7701 132.963) 8.027 131.9261 165,4911 B Analysis of cash and cash equlvalents 2024 a)23 Total cash and ¢a$h •qulval•nts'. Cash al bank arKI in hand 5,390 8,853 C Analysls of changes in net dfA)t At 1 April 2023 Cash ftows At31 March 2024 Cash al bank and in hand 8,853 {3.4631 29,500 5.390 Loan5 falling due wlhin one y8ar Total 5.000 54.500 49.110 St Wient'S Family Project 24
Prin¢ipal a)untIng pollcles 31 March 2024 The prlncipal accounting poliGies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statemen15 are laid out below. Basls of preparatlon Th8se financial $tatements have been prepared for the year to 31 March 2024 with comparative irrformation given In respect to the year lo 31 March 2023. TfInancial statements have been prepared underthe historical costconvention with items recognised al cost or transaction value unless otherwise slated in the relevant accounting policies below or the notes to these accounts. The financial statemenls have been prepared In accordance wlth the principles set out in Accounting and Reporting by Charities.. Statement of Recommended Pradi¢e applicable lo charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {Charities SORP FRS 102}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and th8 Companies Act 2006. The charity constitutes a public benefit enlty 8s defined by FRS 102. The financlal statements are presented In stedlng and are rounded to the near85t tx)und. Crltlcal accountlng e5tlmatgs and ar Of judg•mont Preparation of the financial statements requires the trustees and management to make sunificant judgements and eslimales. The main judgement or estimate that has been made In these financial statements relate5 lo the useful e¢onomlc Ie of tangible fixed assets used in determining the annual depreclallon charge and the asse5smenl of future income and expenditure as part of the budgetary Process and as$es8ment of going concern. Assessment of golng concern The trustees have assessed whelherthe use of the going concem a55uiiiplion 18 approwiate In preparing Ihesefinancial stslements. 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. Pages 11 and 12 delall the considerations and decisions made by the Board during the Summer of 2024 following the cashflow difficulties experienced by the charity. The Board of Trustees have Considered the ability of the charity lo meel ils liabilities as they fall due over the next 12 months and 2¢cept that uncertainty remains gwen Ihe charity's dependen on grant funding from charitable Iwsls and foundations. However, the Trustees having been assured by the local authority community support body that the proj'ect provides a unmjue and much needed servlce to disadvantaged families in an aa of high deprNation they wish to continue operating those services in the best inleresls of the beneflclarles. St Vincent's Famity Project 25
Prlnclpal accounting poli¢i¢$ 31 March 2024 Assessmgnl of going ¢on¢orn (continued) Therefore. having 8xamin8d the incomeforecast, budgets and operating structure to satisfy themselves that, with the information available and within realistic parameters, this plan is udenl and achievable. Given Ihal we have also pul in place increased monitoring to avoid future instability and to support greater financial ¢onsistency. the Trustees are of the opinion that the operations should continue. Having reviewed the avail2bl& evidence, the directors and tnJstees have concluded that although there is material uncertainty related to Current projections. it is appropriate for the charity to continue to prepare their accounts on the going concern basis. In¢ome recognlllon Income is recognised in the Pefiod in which the charitable company is entitled to receipt, the amount can be measured with reasonable certainty, and it is probable Ihal the income will be received. Income Comprises donations, grants. bank intere$l. crèche and creatNe art therapy fe85, income from other trading activities. and miscellaneous income. Donations and grants are recognised when the charity has confinnalion of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In Ihe event that a donation or grant is subject lo conditions that require a level of performance before the charity is entilled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fuifilmenl of those conditions is wholly within the control of the charity, and it is probable that those condition$ wll be fUilled in the reporting period. Income from the Coronavirus Job Retention Sch8me is cTrdited to the statement of ffin8nclal activities once the charitable company Is entitled lo the fiJnding and the amount receivable has been quanllfied. In ac¢ordance with the Charrti88 SORP FRS 102 volunteer time is not recognised. Donated goods are recognised at fair value unless li is impra¢li¢al to measure th1$ reliably in which case a derived value, being the cost ollhe item lo the donor, is used. An gquivalenl 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 lrfe in accordance with the charity's accounting policies. Income recognltlon Inleresl on funds held on deposit is included when re1vable and Ihe amount can be measuied reliably by the charlty.. th1$ is nomialty upon nolificalion of the interest paid or payable by the bank. Income derived from the levying ofcharge$ for Crèche and Creative ArtTherapyand IrMe St Vincent's Family Project 26
Prlnclpal accounting poli¢ies 31 March 2024 from trading actlvltles is measured at the fair value of the consideration received or receivable, exduding disGount$ and rebates. Miscellaneous income is measured at fair value and accounted for on an a¢cnJal's basls. Expendlture recognltk)n Liabilities are reo)gnised as expenditure as soon as there is a legal or constructive obligation MMItt1ng the charity lo make a payment to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligatn can be measured reliably. All expenditure is a¢¢ounted for on an accrual's basis. Expenditure on charitable activities comprfses expenditure on the provision of a safe and stimulating envlronment where parents and children Can lake part in activities together and ag IndNiduals. Governan costs arecosls associated wllh the governance arrangements of the ¢harltable company that relate to the general running of the charitable company a$ opposed lo those costs associated with fundraising or ¢h8rilable aclivty. Included within this category are costs associated with Ihe slralegic as opposed lo day-ldaY management of the charitable company's aclsvities. Costs are apportioned based on the number of sessions prowded at the Family Project for each activity. l expenditure is ststed indusive of irrecoverable VAT. Tangiblg fix auots All assets costing more than £3.000 and with an expected useful Ilfe exceeding one year are capilalised. Depreciation is provided at the followiro annual rate in order to wrlte off each asset over its estimated useful Itfe.. Furniture and equipment 25Vo on cost Computer equipment 25¥0 on cost Dobtorn Debtors are recognlsed al their settlementamount, less ary provSslonfor non-re¢overability. Prepaymenls are valued al the amount prepaid. They have been discounted lo the present value of the future cash reIpt where such discounting 13 material. St Vincenvs Family Project 27
Principal ac¢ountlng policies 31 March 2024 Cash at bank and in hand Cash al bank and in hand represents such accounts and inslrumenls that are available on d8mand or have a maturity of less than three months from the date of acquisition. Crgditors and provlslons Creditors and provisions are recognised when there is an obligation at the balance she81 date as a result of a past event, il is probable that a transfer of economic benefit will be required In setlement. and the amount of the settlementcan be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates il will pay to setue the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Fund structurè Restricted funds comprise monies faised for, or Iheir use restrthd to, a specific purpose, or contributions subject lo donor-ims8d conditions. Generalfvnds represent monies which are freely availableforappli¢ation towards achieving any Gharitable purpose that falls within the charitsble companls charitable objects. Leased assots Rentals applicable to operating leases where substantially all of the benefits and rlsks of ownership remain with the lessor are charged to the statement of financial activities on straighl-line basis over the term of the lease. st Vlncenvs Family Project 28
Note8 to tho financlal statements 31 March 2024 1 Donations and grants Totsr fvnd¥ Grants N8lk)ral Lottery YoungWethkn8tsr Plmlto Mlllior AweLq Galkqgher Sl M•bcne EthKatK)n81 Foundthi 10mO 18,128 10,000 1&128 1.OOD 1.000 S.200 10,500 2,23• S200 10.50 W8sbMlnWinterGwant Wesknlnstsrwor WesknIn¥reity CoLmdl Groun LDRO 2.239 f5.000 5.0fy) 1.000 5,200 20.000 1.000 5,200 2S.000 5.000 simd P8ri8h Trt 5,000 SwlrecharhabTntst Thest Glk$-in4hfrF%kYsl1ddM Sh81ton Edthn Charfty Edward Harvtsst Trusi Wesknin8ter Fowdaon Da3hr$ ofChity ofSI Vlncert de Paul. Chari18tleTn•t MeihodlstCer4r81HJl John Lyon8(J• 14000 15.000 44,823 2.500 10.OOQ 40.000 YJ,750 10.000 40.000 23.750 45,000 187A82 105250 292.6J2 Otherdmyticffis .781 24781 26,781 26,781 2024Totsl fund¥ 132.031 187J82 319N13 2023 TrAal futbJ8 Fur OrWeskniner Young Garfteklwestr St marybone 11.0 23.118 15.0 11,0 23,118 I5.(7 Mercer$TnI Hyde Pa ChprilebTMt I)nngerS Mrs Smlth 8 Mount Tr sisteof The Hoty SrCharl4b1eYNXl TheSIGles4TrthèvF*kJs 8ThYWIllL9m Edur¥lond Cts Lcffjdon Cala Westriter F¢)und•b¢fi Daughters ofCh8rtyofSI vntde Paul, Charit8NtsTnA JDhn Lyon8Chttrrty 21.570 5,0 25,0 S.OLIJ 10,oriJ 21.5n) 5.OC¥J 25.ofKJ 5.0 10,OLK) 20,0 31.806 20.wo 31.8VB 4.0 lo,0 40.0 30,0 lo4,0 40,0 30.ON) 253,996 159. Meth¢xli5tC¢rrtralHal OlherdorwlK)nS 25,0 18.393 2S.ON) 18,393 43,393 2023TotslfurhYs 147.393 159,9 7,389 St Vincent'9 Family Project 29
Not to the flnanclal statements 31 March 2024 2 Charitable a¢tivitios a)24 Total 2ff23 Total fvnds Unr•striet•d R¢gtr1cted fvnd¥ funds Unre5trKW RestTKted fvnds Provi8lonol¥grvl¢wl• vulneMbl f•mlllés and chlldren Staff ¢4JSts Cr88tiv8 Arts Th8rapy Famity Spaco Vdunle8rSpa PreTTse$ Furnure and WUiFrfnent In5uran( PrintiNJ, po8, td8ph and stationery Recruitfflentand trainin9 Travel and subststi Professona11868 SUbSpts 76.975 120.523 54.437 14.036 1,614 40.840 197.498 54,437 14.036 1,614 91477 130,698 56.676 224.175 56,676 8,340 1,056 36.277 11,070 2,676 1,056 28,267 11,070 8.010 1,772 5.455 1161 3.161 2,076 2.078 203 203 7.871 25 4.112 6,670 2,1e 7,871 4.112 670 2,160 2.850 2,818 96.679 MIlnU$ 2023 Totalfunds 95 243,624 2.713 340,303 156,622 203,724 3&),346 3 Not •xpendlture and n•t movomont in funds for the year This is staled after charging- 2024 2tr23 Staff costs (not8 41 Audtiorfs remUneraOn Ilncluding VAT) . CurrentyeaT 8tatutory audlt servkes Deplati( 251,935 280,851 2,850 673 3,120 673 As the charity is part of a large group, it 1$ required to have its accounts audited rather than an independent examination. The drfference been the indepen(lent examination fee and audit fee is £2,50012023 - £2,400). which has been paid by the parent charty, DC Services. 4 Staff ¢08ts and remuneration of key manag•m•nt pèrsonn 2024 2023 staff costs during the yearwere 8s folkm.. Wages ar salarie8 Pen$i)n Costs Social security costs 183207 3,518 10,775 197A98 54,437 251,935 206,718 4.208 13,249 224,175 56,676 280.851 Contr8¢t *aff Included within wages and salaries are redundancy costs of £10,67912023 - 4.100). The average number of employees, based on head count, was 7 {2023- 8} whereas the average number of employees. based on full time equivalents, was 6 (2023 - 7)- There were no employees who earned £60,000 per annum or more (including benefits) during the year {2023 none). Sl Vincent's Famity Project 30
Notos to thellnanclal statOrnOnts 31 March 2024 4 Staff costs and remuneration of key management personnel (continued) The trustees consider that they together with the Chief Executive comprise the key management of the charity in Charge of directing and controlling, runnlng and operating the tharity on a day-to-day basis. The total remuneration {including taxable benefits and employer's pension conlribullons) of the key management personnel for the yearwas £64.158 {2023- £62.8071. None of the trustee8 received any remuneration in SpeCt of their services during either year {2023- none). Expenses were £Nil reimbursed to the trustees {2023- none). 5 Taxation Sl Vincent's Family Projecl 1$ a registered charity and, therefe, is not liable to income tax or rporation tax on income derived from its charitable aclNilies, as it falls wlthln the various exemptions available to registered charities. 6 Tangiblè fixad asget8 Comwler equipment At 1 April 2023 Ad[l)n8 Disposals Al 31 March 2024 2.693 2,693 2,693 Deprn¢i•li Al 1 April 2W23 Charge for On dispDsal8 Al 31 March 2024 673 673 673 673 1,346 N•t book value8 Al 31 March 2024 At 31 March 2023 1.347 2,020 1.347 2,020 7 Dobtorn 2024 2023 Othor debtors CAT fe88 3.219 5,984 9.203 16.542 St Vinc8nl's Family Project 31
Notes lo the financial statoments 31 Mah 2024 8 Creditors: amunts fallln9 due wtthin on• yoar 2024 2023 AccNals Amount due to Methodist Central Hdl (not8 141 Amount due to th8 Daughters of Charftyof St Vincentde Paul Charitable Trust (rte 141 D8ferr8d income.. grants r8wv8d in adva($9* below) 2.850 2,412 3.120 2.412 $4,500 29,500 25,000 ,032 59,762 2024 2023 Defèrrèd Income at 1 April Amounts rg1gaS8d fr( previous years Rosourcas deferred in the year Deferred Income at 31 Marth 25,000 125.000) 55.000 {55,0001 2S,000 25,000 Deferred income r8la16S to grants received in advan¢è of the year lo which Ihey relate. g Restrlcted funds The income funds of the charity include the following restricted furKIs.' Tran8foYs botW¢on funds At31 March 2024 At1 Income Exp•ndliur• Famity Space Proigct Creative Arts Therapy Ploit 157.560 39.086 196.646 1157.S601 180.0841 1243,6241 46.978 46.978 At31 Mh Trdnsfgr 2022 Ir¥xJm6 ExpoTrJiture fvnds 223 Family Space Pmject Creative ArtsTherdPy Proj& 113,325 52,040 165,365 1113,3251 190,3991 1203.7241 38,359 38,359 The transfers beeen unrestricted into restricted fundg occurs to ensure there is no deficit in the year end position for restricted funds. The specffic purposes for whi¢h the funds were received and applied in 2023 and 2024 are a$ ftjllows.. Fanpily SpaGe FIDiect Funds provided to assist with the Family Space Project. Creative Arts Therapy Project Funds provided specrfully as a contribution towards the costs associated with the Creative Arts Therapy Project. St Vincent's Family Project 32
Notes to the financlal statements 31 March 2024 10 Analysis of not assots botw•en fund8 2024 3)23 To fun(ts fvnd• fvnd• funds fvnds funtls Fund balancM¥A• Flxed assets Currentassets CrltOrS.. amountslaHingd wilhin ¢)ne year Total ngt ass•ts 1.347 14S93 1,347 14593 2,020 2,020 25.395 159,762 143,8221 59.7621 143.8221 iei).oy21 132,61n ,032 132,617 11 Oporatlng lease commitrnonts At 31 March 2024 the charity had the following future minimum commitments urKier non- cancellable operating leases in respect of a photocopier". 2023 Lgases which ewre: . Wthin one ygar . Betren one and ffive years 2.538 2,467 9.868 12,335 10,786 12 Liablllty of momber The charity is conslituled as a ¢ompary limited by guarantee. In the evenl of the charity being wound up its member is required to contribute an amount not exceeding £1. 13 Conlrol Control of the ¢haritable company lies with its member and parent entity. DCSVP Services, a registered charty {Charity Registration Number 11493261 and a (x)mpany limited by guarÈnlee (Company Registration Number 07638065 (England and Wales)). The register8d office of DCSVP Services is St Vlncent's Centr8, Cadisle Place, London. SW1 P 1 NL. The financlal statements of DCSVP Service5 can be obtained from the registered office of DCSVP Services is St Vincent'5 Centre, Carlisle Place, London, SW1 P 1 NL. 14 Related party transactlons DLsring the year, Iruslees made £400 to the charity12023 -none). There aTr no other relaled party transactions requiring disclosure {2023- none)- Mathodlst Central Hall St Vincent's Famity Project Is [nnected lo MethcKlisl Central Hall by virtue of the fact that one of ils trustees is a senior employee arKI trustee of Methodist Central Hall. Two other trustees are active members of the Methodist Central Hall. • During the year the Proie¢l Contributed service charges to Methodisl Central Hall of £5.844 (2023- £5.8441, £487{2023- £487) of which was accrued at the year end. In addmion, the Prolect paKI rent to Methodist Central Hall of £22.81)0 (2023 - £22,800). £1,900 {2023 - £1,900) of which was accrued at the year eThl. During the year Methodist Central Hall gave a donation of £23.750 {2023- £25.0001 to the Project for use in meeting core costs. St Vincenvs Family Project 33
Notss to thefinancial statgmgnts 31 Mar¢h 2024 14 Related party tran8actlon8 {continL1) Daughters of Charity of St Vlncent de Paul CIO St Vincent Family Project is a subsidiary of the Daughters of Charity of St Vincent De Paul Services, which prepares group accounts. inrluding Sl Vincent Family Project. The Daughters of Charity of St Vincent De Paul Services will pay £2,500 of the audit fee for St Vincent Famity Project12023'. £2,400). See note 3 for further detail. the Daughters of Charity of Sl Vincent de Paul Services, a registered charity (Charity Registratlon Number 1149326) and a company limited by guarantee {Comp8ny Registration Number 07638065 {England and Wales)) is considered the ultimate controlling party of St Vincent Family Project, as il is its sole member This Control is nomially exercised by th8 appointment of Trustees. Should the subsidiary drift awayfrom [15 wre mission, Daughters of Charrty of St Vincent d8 Paul Services has the power also to remove the Trustees of the subsidiary. The registered Offi address of the Daughters of Charity of St Vincent De Paul Services is St VireI,S Centre, Carlisle Place, London. SW1 P 1 NL. The group accounts of the Daughters of Chartty of Sl Vincent de Paul Services can be obtained from the registered office address. The principal purposes and activities of the Daughters of Charty of Sl Vincent de Paul Services are 10 5UPPOrt charities within the group, includlng St Vlncent Famlly Project. The principal purposes and aclivllles of the Daughters of Charity of St Vincent de Paul SerVs are lo safeguard and deepen the Vincentian Character of, arn1 provide support lo, the charities wilhin the group, including Sl Vincent Family Project. Sl W1nn1'S Family Project 34