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← Young Women's Housing Project

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 07698405 (England and Wales) REGISTERED CHARITY NUMBER: 1143995

YOUNG WOMEN'S HOUSING PROJECT (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Hollis and Co Limited Chartered Accountants Statutory Auditor 35 Wilkinson Street Sheffield South Yorkshire S10 2GB

YOUNG WOMEN'S HOUSING PROJECT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 21
Detailed Statement of Financial Activities 22 to 23

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims YWHP MISSION

Enabling young women and girls affected by sexual abuse & exploitation, to have secure places to live, specialist support to recover from trauma and create safe futures for themselves and their children.

CHARITY OBJECT

The object of the charity is the relief of distress and suffering experienced by young women and children who have been affected by sexually abuse, including being subjected to mental and physical abuse.

CORE ACTIVITY

Young Women's Housing Project - YWHP provides specialist, trauma informed therapeutic support services and safe, supported accommodation for young women, girls, pregnant young women and young mothers, affected by sexual abuse, sexual exploitation/violence and domestic abuse.

The organisation takes a holistic approach, providing on-going person-centered support for clients throughout their transition into independence, addressing both complex and practical needs including: independent living skills and budgeting, progression into training and education, securing housing, parenting skills, legal issues and welfare advice.

We provide specialist therapeutic and well-being interventions to address the impact of sexual abuse and exploitation, building resilience and staying safe strategies and supporting clients to manage mental health issues, self-harming and drug/alcohol abuse.

YWHP deliver community education, prevention programmes and training for both statutory and non-statutory bodies. We offer several accredited programmes & workshops for young people to improve their understanding of healthy relationships, coercive control and consent.

CHARITY REVIEW

To ensure our work delivers our aims we review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to individuals and groups of people we aim to support. The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities.

Page 1

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Review of Key Activities

In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit at our trustee meetings.

We have followed our 2023-2024 Core Plans:

1 Growing What We Do

2 Growing Client Focus 3 Growing Inclusion

4 Growing A Great Place To Work

Our Achievements during the year:

Growing What We Do

Growing Client Focus

We have been implementing our SMART Co-production Plan and developing further opportunities for enabling clients to use their Authentic Voice in developing future plans for the YWHP.

Growing Inclusion

Growing A Great Place To Work

SAFE ACCOMMODATION, SUPPORT WORK & THERAPEUTIC INTERVENTIONS

We received a total of 144 referrals for support from young women affected by sexual abuse.

Accommodation:

YWHP provided 20 safe spaces to live. We received 76 referrals for safe supported accommodation.

We were able to accommodate 37 young women and 12 dependent children during the year. We pride ourselves on achieving 100% planned and positive move-on for those leaving the project.

Support:

Support planning was a shared process between the young women and specialist workers, focusing on resilience, recovery and well-being; safe and healthy relationships; successful parenting; social and financial inclusion; effective future engagement with universal services and participation in the wider community. Individualised support planning and recovery programmes were delivered in both one to one and group-work sessions.

Therapeutic Interventions and Outreach:

We supported a further 104 young women aged 11-25 years, accessing our therapeutic provisions and outreach programmes:

Page 2

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Review of Key Activities (cont)

The following are some of the specialist opportunities provided during 2023-2024, all of which were designed and facilitated by experienced practitioners with specialist training and knowledge of our vulnerable client group. Support has typically involved:

Intensive Housing Support : managing and maintaining their home, benefits advice & assistance, money/debt management, securing hous ing priority, support with obtaining settled move on accommodation

Support Work : Emotional Well-being, Personal Safety, Independent Living Skills, Motivation, Empowerment, Education & Training

Therapeutic Interventions : Safe & Successful Relationships including 'Escape the Trap', Protective Behaviours & Resilience, Confidence Bu ilding & Self-esteem

Counselling & Therapy: Person Centered Counselling, EMDR therapy, Creative Movement Dance Therapy, therapeutic strategies for reducing and containing distress, and the provision of pre-counselling through Stabilization Therapy.

Parenting Support: Our qualified Parent Educators provide pregnancy support, 'Parent as First Teacher' PAFT sessions, parent & child activity groups, advice & information

Sexual Health Intervention: Consultations and advice with our accredited Sexual Health practitioners.

Trips and Events: We organized a number of outdoor group activities and day-trips aimed at enabling all our clients and their dependen t children, to experience leisure and social events. and cultural celebrations e.g. Christmas and Eid.

2024-25 PLANS

YWHP, like many other charities, are aware that there could be a decline in available funding during the year ahead, at a time when the need for our services has never been more acute. We were mindful of this when developing our 2024-25 plans.

The charity will continue the activities outlined above in the forthcoming year, subject to satisfactory funding arrangements and in line with our delivery plan priorities:

1 Growing What We Do

2 Growing Client Focus

3 Growing Inclusion

4 Growing A Great Place to Work

Page 3

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Public benefit

Our main activities and whom we try to help are described above. All our charitable activities focus on the relief of distress and suffering experienced by young women and children who have been affected by sexual abuse and are undertaken to further our charitable purposes for the public benefit.

QUALITY & STANDARDS

SERVICE DELIVERY

During the year we have continued to provide a high standard of support to our clients, are a strategically relevant & unique service in Sheffield that it is being well utilized. Our clients understand the purpose of the YWHP and many take an active role in influencing policy decisions. Clients are using the therapeutic service provisions to help overcome the effects of abuse and provide positive feedback and constructive consultation input about the provision. We are continuing to provide a good quality of service, which is effective in developing independent living skills and encourages young women to take up meaningful activity and eventually be successfully resettled.

In previous years we reviewed our project against the standards set out in the Quality Assessment Framework from the ODPM for Supporting People Core Objectives. This was a good assessment tool and provided us with a clear framework to plan ongoing improvement.

This has now been replaced by a new National Statement of Expectations (NSE) for supported housing. It has been developed in collaboration between the Department for Levelling Up, Housing and Communities (DLUHC), and the Department for Work and Pensions (DWP) with input from local councils and the supported housing sector. It sets out government's vision for ways of working in the sector and recommendations for standards in accommodation and is an important step in establishing what good looks like and how it can be achieved.

YWHP are committed to providing delivery of good quality supported accommodation which meets our clients' needs, allows them to thrive and represents value for money.

NSE Annex A:

Checklist of accommodation standards and tenancy-related housing services in supported housing: covers legal requirements, suggested minimum standards and what is considered to constitutes best practice within the following areas:

Supported accommodation - general expectations and suitability Accommodation regulations and standards Housing facilities

Housing safety and building condition Tenancy and license agreements Resident communication and engagement

We have ensured that:

  1. We meet all the Minimum Legal Requirements

  2. We meet all the Minimum Standards

  3. We achieve the 'going further' by delivering Best Practice

We are operating at Best Practice in each of these checklist areas.

To strengthen our operational and service delivery activities, we assess, review and follow an Annual Quality & Improvement Action Plan, which details all the necessary actions and improvements identified to continue improving our service.

We were awarded the ' Working with Trauma Quality Mark ' (Silver), which recognises organisations who can evidence they meet a robust, accessible, and supporti ve set of standards for working with trauma. YWHP continually use the associated tools to enable us to review, develop and evidence trauma-informed practice throughout our organisation.

As Members of The Survivors Trust, YWHP adhere to the TST National Service Standards. These provide a framework through which specialist rape and sexual abuse services demonstrate they are compliant with nationally recognised service standards for good practice, sound management and effective service delivery, that are sensitive to the demands of working effectively with trauma. We achieved The Survivors Trust National Service Standards certification and have been re-certified to date.

Page 4

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW Financial Commentary FINANCE & FUNDING

We were able to offer exceptionally good levels of support to our young women and children throughout the year.

Our 5-year contract with Sheffield City Council moved over from the Housing Independence Service to the Domestic Abuse Co-ordination Team DACT. Through this we provided our clients with specialist housing related support within 20 units of safe accommodation.

The accommodation buildings have been maintained through rental income and through our management agreements with South Yorkshire Housing Association, Target Housing and Sheffield Homes. We undertake a rolling programme of refurbishment and redecoration and keep all the accommodation in good condition.

We received Ministry of Justice (MOJ) Victim Services Grant Funding - Domestic Abuse and Sexual Violence via the OPPC. This was to provide additional staffing and therapy/counselling hours, to maintain the increased levels which arose during the pandemic and to meet the mental health needs of existing and new clients.

We were able to deliver healthy relationship programmes with support from the South Yorkshire Violence Reduction Unit. The one-year grant also supports our Counselling & Therapy provision for victims of abuse.

A number of fundraising events, sponsorships and donations covered the cost of welcome-packs, day trips and celebrations. These came from: KidsOut, Cash for Kids Hallam FM, Sheffield Soroptimists and Thornbridge 4 Ever. A number of anonymous givers support us through GIVEY and CAF, or by signing up to Easyfundraising.

And finally, all our young women and children received hampers and toys at Christmas provided by YWHP Trustees, Hallam Help A Child, KidsOut and the Sheffield Shoebox Appeal.

Principal funding sources

The principal funding sources for the charity are currently by way of grant and contract income from Sheffield City Council and rental income from the supported accommodation provided. These are restricted funds for the purpose of providing supported accommodation, as such, the charity has to seek funding from a much broader range of sources in order to meet the support needs of our beneficiaries. The charity has a revised funding strategy and is allocating appropriate responsibilities to implement this.

Investment policy and objectives

Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short term so there are few funds for long term investment. The YWHP cash reserves are held in a high interest bank account. The trustees are in the process of exchanging two of the investment properties for four smaller units.

Reserves policy

The Management Committee has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be at least 3 months running costs in accordance with our stakeholders good practice guidelines.

The reserves are considered necessary and appropriate to meet the working capital requirements of the charity during 2023-24 and 2024-25..

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing documents, a deed and trust and its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are appointed in line with our Recruitment and Selection Policy and Articles of Memorandum. A person qualified and wishing to become a trustee must be aged 18 years or over and must either be recommended by the Trustees or be nominated for election by a member of the Charity.

Page 5

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure and Policies

The charity is led by a board of trustees, and is accountable to the Charity Commission and Companies House. It is organised with a management committee and sub-committees.

The charity employs two part time directors, a service delivery manager, five therapeutic support workers, three clinicians, two therapy interns, three part time night workers and a finance/business worker.

Decision making and Management of the Organization

We continue to implement a very robust approach to succession planning, which has ensured a good transfer of skills and knowledge and maintained a strong core membership of the Management Committee. Trustee share responsibilities well, and have an active and effective committee structure. We have seen the established trustees develop their skills further and they mentor incoming trustees. Sub-committees meet regularly for Finance, HR and Client Involvement. We have an effective line management and appraisal system for all employees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Management Committee carry out an 'Organisational Risk Assessment', this looks at the major risks to the charity, forecasting over a 3-year period to cover management and finance, human resources, insurance and operational risks, governance, buildings and relationships with clients and stakeholders. This document is reviewed every 6 months; as such it was revisited in April 2023 and again in November 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07698405 (England and Wales)

Registered Charity number

1143995

Registered office

Hollis and Co 35 Wilkinson Street SHEFFIELD S10 2GB

Trustees

Ms E A Hogan Ms K F P Ryan Ms S Coward Ms I Hemmings (resigned 23/11/23) Mrs R Clarke Ms M Adcock

The Management Committee (Trustees) are elected at the Annual General Meeting.

Ms E A Hogan and Ms K F P Ryan were also directors throughout the period.

Mrs R Clarke and Ms M Adcock have been appointed as directors after the year end.

Auditors

Hollis and Co Limited Chartered Accountants Statutory Auditor 35 Wilkinson Street Sheffield South Yorkshire S10 2GB

Page 6

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Solicitors

Taylor Emmet 1 Ecclesall Road South Sheffield S11 9PA

&

Taylor Bracewell Number One Railway Court Ten Pound Walk Doncaster DN4 5FB

Bankers

Royal Bank of Scotland 5 Church Street Sheffield S1 1HF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Young Women's Housing Project for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

AUDITORS

The auditors, Hollis and Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Page 7

YOUNG WOMEN'S HOUSING PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 28 November 2024 and signed on its behalf by:

Ms E A Hogan - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YOUNG WOMEN'S HOUSING PROJECT

Opinion

We have audited the financial statements of Young Women's Housing Project (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

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 Auditors' 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.

Conclusions 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, other than the financial statements and our Report of the Independent Auditors 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.

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 this gives rise to a material misstatement in the financial statements themselves. 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:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YOUNG WOMEN'S HOUSING PROJECT

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 Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) 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.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the further that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YOUNG WOMEN'S HOUSING PROJECT

Use of our report

This report is made solely to the charitable company's members, as a body, 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 members those matters we are required to state to them in an auditors' 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

PETER HOLLIS (Senior Statutory Auditor) for and on behalf of Hollis and Co Limited Chartered Accountants Statutory Auditor 35 Wilkinson Street Sheffield South Yorkshire S10 2GB

16 December 2024

Page 11

YOUNG WOMEN'S HOUSING PROJECT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
3,867
Charitable activities
4
Grants
8,366
Other
115
Investment income
3
364,019
Other income
5
91,747
Total
468,114
EXPENDITURE ON
Raising funds
6
-
Charitable activities
7
Housing
311,921
Grants
702
Total
312,623
NET INCOME/(EXPENDITURE)
155,491
RECONCILIATION OF FUNDS
Total funds brought forward
712,597
TOTAL FUNDS CARRIED FORWARD
868,088		 Restricted
funds
£
-
301,731
-
-
-
301,731
-
-
301,731
301,731
-
-
-		 2024
Total
funds
£
3,867
310,097
115
364,019
91,747
769,845
-
311,921
302,433
614,354
155,491
712,597
868,088		 2023
Total
funds
£
961
316,226
850
283,748
5,000
606,785
2,801
609,519
-
612,320
(5,535)
718,128
712,593

The notes form part of these financial statements

Page 12

YOUNG WOMEN'S HOUSING PROJECT

BALANCE SHEET 31 MARCH 2024

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
598,381
80,361
226,775
307,136
(37,429)
269,707
868,088
-
868,088		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
598,381
80,361
226,775
307,136
(37,429)
269,707
868,088
-
868,088
868,088
868,088		 2023
Total
funds
£
633,225
84,392
128,320
212,712
(49,401)
163,311
796,536
(83,943)
712,593
712,593
712,593

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2024 and were signed on its behalf by:

E A Hogan - Trustee

The notes form part of these financial statements

Page 13

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Revenue grants are shown in the Statement of Financial Activities in the year in which they are receivable. Grants which are received in advance for an activity to be undertaken after the year end are deferred.

Voluntary income is received by way of donations, legacies and gifts, and is included in full in the Statement of Financial Activities when received.

The value of services provided by volunteers has not been included as it is not possible to reliably quantity with reasonable accuracy.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Long leasehold - 2% on cost Fixtures and fittings - 20% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

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YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
3.
INVESTMENT INCOME
Rents receivable
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Grants
Other income
Other
Grants received, included in the above, are as follows:
Lloyds Bank Foundation
PCC MOJ
DACT Funding
Labyrinth project
Cash for Kids
PCC VRU
5.
OTHER INCOME
Gain on sale of tangible fixed assets
Employment Allowance		 2024
£
3,867
2024
£
361,917
2,102
364,019
2024
£
310,097
115
310,212
2024
£
44,802
34,240
216,260
-
-
14,795
310,097
2024
£
86,747
5,000
91,747		 2023
£
961
2023
£
283,246
502		 2023
£
961
2023
£
283,246
502
283,748
2023
£
316,226
850
317,076
2023
£
-
34,239
251,664
12,044
500
17,779
316,226
2023
£
-
5,000
5,000

Page 15

continued...

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6. RAISING FUNDS

Other trading activities

Bad debts
7.
CHARITABLE ACTIVITIES COSTS
Housing
Grants
8.
SUPPORT COSTS
Finance
£
Housing
407
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets
Surplus on disposal of fixed assets		 2024
£
-
Support
Direct
costs (see
Costs
note 8)
£
£
290,694
21,227
302,433
-
593,127
21,227
Governance
Other 2
costs
£
£
7,770
13,050
2024
£
3,150
14,573
(86,747)		 2023
£
2,801
Totals
£
311,921
302,433		 2023
£
2,801
Totals
£
311,921
302,433
614,354
Totals
£
21,227
2023
£
3,000
15,161
-

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Page 16

continued...

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Project Managers (pt)
Service Delivery Managers
Support Worker Practitioners (pt)
Night Support Workers (pt)
Clinicians/Trauma Therapists
Finance/Business Officers (p/t)
No employees received emoluments in excess of £60,000.		 2024
£
343,792
33,974
18,696
396,462
2024
2
1
5
3
2
1
14		 2023
£
351,242
35,497
23,455
410,194
2023
2
1
4
3
2
1
13

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Freehold
property
£
496,196
-
(112,500)
383,696
49,165
7,674
(9,247)
47,592
336,104
447,031		 Long
leasehold
£
175,000
80,000
-
255,000
4,376
3,188
-
7,564
247,436
170,624		 Fixtures
and
fittings
£
30,358
2,982
-
33,340
14,788
3,711
-
18,499
14,841
15,570		 Totals
£
701,554
82,982
(112,500)
672,036
68,329
14,573
(9,247)
73,655
598,381
633,225

continued...

Page 17

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Rent debtor
Petty cash advances
Prepayments
Accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Trade creditors
Social security and other taxes
Other creditors
Other creditors (credit card)
Accrued expenses
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 2024
£
58,248
58
9,990
12,065
80,361
2024
£
-
13,220
8,420
2,817
1,106
11,866
37,429
2024
£
-
2024
£
-
-
-
-		 2023
£
37,398
58
29,771
17,165
84,392
2023
£
2,316
22,352
8,732
2,725
2,345
10,931
49,401
2023
£
83,943
2023
£
2,316
4,633
6,949
72,361

continued...

Page 18

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. LEASING AGREEMENTS

Cancellable rolling leases are held over thirteen flats.

18. SECURED DEBTS

A legal charge over one of the freehold properties owned by the charity has been given to The Charity Bank as security for the bank loan issued.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property
Property provision
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Grants
TOTAL FUNDS		 At 1/4/23
£
(10,627)
633,224
90,000
712,597
712,597
follows:		 Net
movement
in funds
£
155,491
-
-
155,491
155,491
Incoming
resources
£
468,114
301,731
769,845		 Transfers
between
At
funds
31/3/24
£
£
34,843
179,707
(34,843)
598,381
-
90,000
-
868,088
-
868,088
Resources
Movement
expended
in funds
£
£
(312,623)
155,491
(301,731)
-
(614,354)
155,491

Comparatives for movement in funds

Unrestricted funds
General fund
Property
Property provision
Restricted funds
Grants
TOTAL FUNDS		 At 1/4/22
£
113,235
513,549
80,000
706,784
11,344
718,128		 Net
movement
in funds
£
5,810
(1)
-
5,809
(11,344)
(5,535)		 Transfers
between
funds
£
(129,676)
119,676
10,000
-
-
-		 At
31/3/23
£
(10,631)
633,224
90,000
712,593
-
712,593

continued...

Page 19

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
307,725
Property
(1)
307,724
Restricted funds
Grants
299,061
TOTAL FUNDS
606,785
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1/4/22
in funds
£
£
Unrestricted funds
General fund
113,235
161,301
Property
513,549
(1)
Property provision
80,000
-
706,784
161,300
Restricted funds
Grants
11,344
(11,344)
TOTAL FUNDS
718,128
149,956		 Resources
Movement
expended
in funds
£
£
(301,915)
5,810
-
(1)
(301,915)
5,809
(310,405)
(11,344)
(612,320)
(5,535)
Transfers
between
At
funds
31/3/24
£
£
(94,833)
179,703
84,833
598,381
10,000
90,000
-
868,084
-
-
-
868,084

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 775,839 (614,538) 161,301
Property (1) - (1)
775,838 (614,538) 161,300
Restricted funds
Grants 600,792 (612,136) (11,344)
TOTAL FUNDS 1,376,630 (1,226,674 ) 149,956

continued...

Page 20

YOUNG WOMEN'S HOUSING PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 21

YOUNG WOMEN'S HOUSING PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Rents receivable
Deposit account interest
Charitable activities
Other income
Grants
Other income
Gain on sale of tangible fixed assets
Employment Allowance
Total incoming resources
EXPENDITURE
Other trading activities
Bad debts
Charitable activities
Wages
Social security
Pensions
External rents,rates and water
Insurance
Telephone
Postage and stationery
Repairs
Support work ILS
Repairs
Insurance
Service budgets
Staff healthcare
Staff Training
Travel and subsistence
Computer costs
Staff welfare
Cost write-offs
Carried forward		 2024
£
3,867
361,917
2,102
364,019
115
310,097
310,212
86,747
5,000
91,747
769,845
-
343,792
33,974
18,696
58,763
5,841
7,017
5,844
2,276
15,700
17,843
4,080
35,040
3,963
13,076
7,219
4,861
-
570
578,555		 2023
£
961
283,246
502
283,748
850
316,226
317,076
-
5,000
5,000
606,785
2,801
351,242
35,497
23,455
55,642
2,836
8,623
2,312
654
17,516
1,339
5,572
44,798
3,942
2,511
12,012
4,791
1,036
(27)
573,751

This page does not form part of the statutory financial statements

Page 22

YOUNG WOMEN'S HOUSING PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Charitable activities
Brought forward
Freehold property
Long leasehold
Fixtures and fittings
Support costs
Finance
Bank charges
Other 2
Mortgage
Governance costs
Auditors' remuneration
Accountancy fees
Professional fees
Trustee expenses
Total resources expended
Net income/(expenditure)		 2024
£
578,555
7,674
3,188
3,710
593,127
407
7,770
3,150
3,185
5,286
1,429
13,050
614,354
155,491		 2023
£
573,751
7,674
3,595
3,893
588,913
399
5,775
3,000
2,935
6,922
1,575
14,432
612,320
(5,535)

This page does not form part of the statutory financial statements

Page 23