PLACE Solving homelessness one person at a time YOUR PLACE {LONDON) LIMITED TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Company Reglstratlon Number: 08D75329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841 CONTENTS Page Trustees, Annual Report 1-16 Independent Audltorfs Report 17-19 Statement of Flnancial Artlvltles 20 Balance Sheet 21 Statement of Cash Flows 22 Notes to the Financlal Statements YOUR PLACE ILONDONI UMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving hornele5sness one person at a time The Trustees present their report and financial statements for the year ended 31 Marth 2023. The reF)Ort, which constitutes a trustee5' report for the purposes of charity legislation and a directors. report for the purposes of company legislation, has been prepared in accordance with Part Vlll of the Charities Act 2011. The financial statements have been prepared in accordance with the accounting policies set out in note I and comply with the charitable company's Memorandum and Articles of A550Ciation. applicable laws, the Companies Act 2006 and the requirements of the Statement of Recommended Prdctice "Accounting and Reporting by Charities" SORP 2015 IFRS 1021 (Second bulletin effettive January 20191 and the requirements of the Statement of Recommended Practice ISORPI Accounting by Registered Social Housing Providers. Reference and Admlnlstratlve Infomiatlon Constitution The charitable company is governed by its Memorandum and Articles of Association. The member5 Of the Board of Trustees are the companrfs directors and trustees of the Charity- The Trustees who held office during the year under review and up to the date of this report are as follows: Trustees Mr Simon Hall Ms Emma Butterworth Rev Desmond Patrick Connors Ms Laura Curtis Mrs Emer Delaney Mrs Cate Kirkbride Mr Graeme McLean Councillor Joseph 08undermuren Mr Anil Sharm Chair Resigned 7 June 2023 Resigned 27 October 2022 Appointed 8 May 2022 Mr Charles Abel Smith Mr Matthew Williams Resigned 22 April 2022 We have supported the operation of the following Sub-committees: l. Finance, Audit, Governance. and Risk Sub- Committee 2. People & Culture Sub-committee 4. Premises Management Sub-committee 6. Values Sub-committee (now part of People and Culture) 3. Executive sU￿cOMMittee 5. Frontline Services Quality Assurance and Impact Sub-committee Princlpal Address Auditor: Your Place Anchor House 81 Barking Road Canning Town London E16 4HB Haysmacintyre LLP, 10 Queen Street Place. London, EC4R IAG Bates Wells. 10 Queen Street Platr, London, EC4R IBE Bardays, UK Bankin& I Churchill Place. London E14 5HP and Natwest, 1-11 The Broadway, London. E15 4DX Sollcltors: Bankers: Chailt¥ reg15tereO in En8land andWaks111fj73941 and a tOmP•hY ￿{Ya1anree1C￿O7$J2Yj. Re8lSterpd wth the Re8ulatorof SLKial HOuSiniid84LI. YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne$5 one person ot o ￿me About Us Your Place 15 a homelessness charity. and for nearly 60 years has provided a safe place and sUPPOrt for people to rebuild their lives. We are based in the London Borough of Newham whith has the highest levels of homelessness per capita in the country. During the last year we reflected wiih many of our key stakeholders on our brand, and our research showed that by changing our name we could reach more people who need us and raise more money to support them. So, in October 2022 Caritas Anchor House became Your Place- a new narne with the same mission, purpose and values. Our change from Caritas Anchor House to Your Place is part of our on8oin8 evolution as a growing charity. Above all. Your Place is about focusing on each person and their individual needs a5 they regain a Sense of ownership over their lives. Our new name shows each person who comes through our doors that we're really here for them. It's their place to feel Safe, to feel their feet oll the ground. to start again. We're a Community of people and services that supports that person's journey to a better place. We can't end homelessness for everyone overnight. but we can help to solve it one person at a time. Our mlsslon is to build hope, enable lasting change and end homelessness for people in East London. Our values guide our interactions and decison-making processes at all leve15 wiihin the organisation. They are- Compassion- we care about people, value their views and experiences and put them at the heart of all we do. Inclusion- we celebrate diversity. promote inclusivity and respert. and challenge inequity. Growth- we support people to breakthrough barriers and fulfil their hopes and potential. Collal>oratlon - we're stron8er and can have a bigger impact when we work in partnerships and build alliances. Our service combines the provision of a safe place to live for vulnerable adults experiencing homelessness. with in-house delivery focusing on physical and mental health, addiction and other complex health issues, education, employment, financial literacy and tenancy sustainment. Each person who walks through our doors receives a full a55e55ment of their needs and a bespoke programme of in-house and external Services created to best prepare that individual for independent living. We are proud to act as a beacon of hope for the growin8 number of residents we are now able to support. In the year ended 31st March 2023, we accommodated and separately supported a total of 404 people, and helped 115 people to move on positively from our services, leaving homelessness behind them. A number of our residents shared their experiences with us this year. Here are just a few of their reflections on the help we've been able to provide= "Iys been o long time since I hod o ploce thot I con (￿U011Y coll home."_ Morio "Thonks to Your Ploce. my hope for thefvture was fe5tored, und Ifound the determination to overcome the obstocles in mypoth. - 80ry5 'Your Ploce is more thon just a roof over my head.. it s a community that hos given me hope. support, ond o chance to stort o new chopterin my life.°_ Holima "For thefirst time. my dret7ms seem to be 17¢hievoble. Ifeelempowered. independent ondsuc¢essful."_ Danley Cbarityrew5teie¢ ￿ engla￿ and Wa*511147794}iTrdi tornwnyhTnrttd ￿￿1￿￿tte10￿?5a}9I. Reiistered wih ihE Re8vbior of So(1* Hiwyngl484Jl. YOUR PLACE (LONOON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2013 PLACE Solvin9 homele55ness one porson at o time Strurture, Governance & Management Your Place is a registered charlty and company limited by guarantee as well as a Re8lstered Provlder of Social Housing. We are regulated by a number of bodies. including the Charity Commission, Companies House, the Fundraising Regulator and the Regulator of Social Housin8. Our Trustees meet on a quarterly ba515 to review the perfomance of the organisation and plan for the future. The professional backgrounds of the Trustees include financial management, housing, busine55 planning, charity management. law, risk management. community involvement, marketin8 and investment banking. The day-to-day running of the Charity 15 delegated to the Chief Executive and Senior Management Team I'SMT'I. Our SMT 15 led by our Chief Executive, Amanda Dubarry. who joined us in March 2018 and has an extensive background in the homelessness sector. She was joined by both John Lowery, Director of Frontline Services, and Siva Selliah. Finance Director, in 2018, both of whom come to us with many years, experience in the housing and care sectors. In May 2023 Lucy Inksterjoined as our Director of People. taking over from Craig Hardaker, and bringin8 With her a strong background in the charity sector. Key management rernuneration is set bythe Trustees by reference to the degree of seniority and responsibility of the post. by benchmarking against similar role5 in charities of similar size and complexity and in the light of performance appraisal. During the year we added scrutiny to our financial and governance practice5 Vla the appointment of a consultant internal auditor, Bob Deed of Deed Consultin& to help us to continually improve our work in this area. Audits reports are shared with our SMT. our Finance. Audit. Risk & Governance Sub Committee. and our Board. Trustee recrultment, Indurtion and trainin8 The support of our Trustees is vitally important in ensuring we deliver the best possible service to those in need, and in raising awareness and support for the essential and life changing work that Your Place provides. In Spring 2022 we were delighted to appoint a new trustee, recruited initially through our innovative Next Generation Trustee programme in partnership with Housing Diversity Network IHDNI, which aims to support us in broadening trustee diversity. We also recruited a trainee Trustee through this process who has 5in¢e successfully completed that trainin8 and has joined one of our Board Sub Committees, and we hope will join our Board in Autumn 2023. We have subsequently recruited two further candidates through this programme. All new trustees are provided with a trustee induction pack and induction process and are encouraged and 5UPPOrted to attend specialist training relating to the roles and responsibilities of a charity trustee. including safeguarding. In addition, we have signed up two new recruits to the one-year HDN Board Diversity Programme and two to the one-year HDN Board Excellence Pro8ramme. Charity Tegi5tÈred In EDgiard and wa￿5{1147794j and a cornpany hrnited t￿£￿rIn¢¢t((￿Ys)29I. Re8lsiefed vAth Ihe AeeulairN ol Sooal HtyJsin8148411 YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (contlnuedl FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne5S one person at a time Objectives & Activittes Your Place's objects contained in its Memorandurn and Article5 Qf Association are "to further the general charitable works of the Roman Catholic Church by providing Services and facilities for the relief of poverty and suffering, the advancement of education. the promotion of social justice and other charitable acts which promote the development of all individuals and communities in need for the public benefit of people of all faiths and none." We provide supported accommodation to people experiencing homelessness in the London Borough of Newham and sUPPQrt them to move on and break the cycle of homelessnes5 for good. We do this by: Providin8 a safe place- to make sure that people experiencing homelessness have somewhere safe to stay a5 they be8lll to rebuild their lives Offering SUPFlOrt - to encourage and enable people to buikl a better future for themselves, through the provision of personalised support, educational and life skills opportunities. Building resilience to build networks of support. and empower people to navigate services Wlth confidence and be a proactive member of their comrnunity outside of and beyond life at Your Place Our frontline teams work directly with residents during their time at Your Place. Each resident 15 assigned a keyworker who will guide them through their stay and supports them to access a holistic service offering relating to health and wellbeing, education and employability, finantiaS management and securing and Sustaining new tenanoes. Residents can participate in training, workshops and activities including money management training, English as a Second Language, mindfulness sessions. counsellin& CV workshops and events. Our goal for each resident is for them to move on from our service5 Wlth the skills to navigate their next chapter5 With confidence and to sustain their accornmodatlon and independence long term. Publlc benefft The Tru5tee5 confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit "Charities and Public Benefrt" in the exercise of their powers and re5pon5ibilitie5 a5 detailed in the Memorandum and Articles of Association and under charity law. Value for Money The Charity is always conscious of the need to provide value for money to our users and stakeholders. As a registered provider of sotial housing with the Regulator of Social Housing {'RSH'I, we are committed to delivering value for money and continuing to meet the RSH'S Value for Money Standard. Our rental and housing related sUPPOrt levels are set in consultation with London Borou8h of Newham, to ensure that they, as the principal commissioners of our seNices. feel that they are receiving such value. We regularly review our performance and the way we work to continue developing the impact of service5 and using resource5 in the most effective and efficient way. Chartiy reglstèred ID Enland W*Es IL1477941 anda t￿partyI￿Ni￿ ￿￿ar*r&ieel(oJ75jZ91. Registered wAth Resulator ol SrKial HOLE51￿{4841I. YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solviry homelessness one person at o time Metrlc l- Relnvestment % This metric looks at the investment in propertie5 lexistin8 Stock as well as new supply) as a percentage of the value of total properties held. The percents8e reflects major repairs work on the existing properties, includlng replacing fire doors for 140 units in 81 Barking Road. The charitys metric for reinvestment for the year was 1.81%12022- 6.07%) Metrlc 2- New supply dellvered % During the year the Charity has delivered nil social housing units. The Charity doe5 not have a development programme to deliver new units every yeaT, delivered IS units in the p￿edIng financial year as a one-off development. Metrlc 3- Gearlng % The Charitvs property. Anchor House. is owned freehold. The charity has two long term loans, one with Natwest, secured against this property, and the other with Homele55 Link. The balance outstanding at 31 March 2023 of £2,086K12022'. £2.187KI represents 15.23% 12022:10.78%1 of Housing depreciated value owned by the Charity. Metrlc 4- Earnlngs Before Interest, Tax. Depredatlon, Amorti5ation, Major Repalrs Included IEBITDA MRI) Interest Cover % The charity paid interest of £63K12022: £68K} in the year in relation to the loan finance referred in metric 3. Interest, which is at a fixed rate of 2.73%, is therefore covered 54%12022:.20%1 by EBITDA MRI. The interest coverage ratio is low due to a loss of £309K incurred on Integrated Rough Sleepers Support Services IIRSSSI Metr1¢ 5- Headllne so¢lal houslng cost per unlt The cost per unit for the year wa5 £23.38412022: £19,588). The cost reflects the average cost of housing and 5UPPOrt services offered to our residents in the year. The support services vary from low to medium. includln8 Services to people sleepin8 rou8h and residents with multiple and complex needs. Metric 6- Operating Margln (overall) % The operating margin of the Charity as a whole for the year was -3.30% {2022.. .7.84%). The negative margin was due to a loss of £309K incurred on Integrated Rough Sleepers Support Services IIRSSSI due to lack of funding and unexpecied increase in staffing c05tS. Metric 7- Retum on capital employed (RO￿> % Thi5 metric compares the operating surplus to total assets less current liabilities. For the Charity as whole this was- 1.40% for the year12022.. _2.58%1. The negative ROCE was due to reasons stated in metric 6. Charity regi51eretr In EnElaDd and Wale5111477941 and a cornp•w Iimiied ￿lUaranret(1￿7S329l. Re8*tered ￿TIh The Re8ulaEorolSwa1 Hwsing1418411- YOUR PLACE ILONDON) UMITED TRUSTEES, ANNUAL REPORT Icontinued} FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 home￿$$nÈss one person al a time Fundraising Our supporters are incredibly important to us, and we believe in maintaining the highest possible standards when fundraising. We are registered with the Fundraising Regulator and are committed to the Fundraising Promise and working in a way that is compliant with the Ci)de of Fundraising Practice. This report covers the requirements charities must follow as set out in the Charities Act 2016. We keep our fundraising policy and practices under review and ensure that our fundraising meets the standards required in law and reflects best practice, so that our donor5 can give with confidence. Our focus has remained on securing grants, individual donations and gifts in kind. We are experiencing a more challenging fundraising environment as a result the pandemic. wtth regards to community fundraising and in- person events, as well the increased costs of living impacting people's ability to support us. Despite this, we raised £665,880 income from grants and donations in the year. We participated in the Big Give Christmas chaI￿nge 2022. whereby donations made durin8 the online campaign were match-funded. which raised a restricted funding of £25.106 to support residents to move on from our services and live independently. Direct mail appeals raised £14.878 of unrestricted funding. We were also grateful to receive many gifts in kind during the year. including food. toiletries and clothing for our residents, and furnishings for their rooms. It's important to us that everyone we interact wth fee15 free from undue influence when they consider donating. We ensure our fundraisers can recognise signs of potential vulnerability, so they can manage conversations and take action in the most appropriate way. We acknowledge that people'5 circumstances change, and we promise to respect and act on information shared if one of our supporters is in a vulnerable situation - we did not receive any such notifications in the financial year. We a￿ also siBned up to the Fundraising Preference Service to enable individuals to opt out from receiving fundraisin8 communicatbons from us- we received zero requests from this service during the vear. We promise that we will treat all complaints seriously. investigate them fully and report back transparently and appropriately. Our aim is always for our supporters to have a high-quality experience with us. and we are pleased that we did not receive any complaints about our fundraising. marketing or related communications done by ourselves or any third parties- in the year. We did not work wlth any professional fundraisers or commercial participators, as defined by the Fundraising Regulator. Should this be something we do in the future, V￿ will of course monitor the activities carried out to ensure they meet the same high standards we expect of our own fundraisers, and have any required agreements in place. Char￿V ie8lStered in En¢andand Wales111477941 and a knknteolry￿aroMe¢ W753291 Re8iMered wih the Rwlatty olSMal HOuSiw148411. PLACE YOUR PLACE {LONDONI UMifED TRUSTEES, ANNUAL REPORT (tontinued) FOR ThE YEAR ENDED 31 MARCH 2023 Solving homelessness one person at a time STRATEGIC REPORT Achlevements and Perfornian¢e The context in which we work has become ever more challen8in8 over the last few years. The housing cri515 continues to deepen with house prices and rents beyond the reach of many of those living locally, wages have not kept pace with inflation. and inflation has continued to soar leading to a cost-of-living cri515 acr055 the country which is hitting those on low incomes the hardest and impactin8 on charitable giving. We ended the year with 202 bed-spaces. making Your Place the largest provider of supported accommodation for people experiencing homelessness in Newham. Our main site. Anchor House in Canning Town, provides one of the largest hostel seryices in the country. We provided seven supported accommodation servlces In the year: Our Core service at Anchor House. providing 121 rooms and flats for those experiencing homelessness with low to medium level sUPPOrt needs. Our Complex Needs service at Anchor House. providing 19rooms for those who have been rough sleeping and have high level support needs. Our Hope Street service ot Anchor House, providing 15 Move on 'houses' for people who have been rough sleeping with low to medium support needs. Our Direct Acce55 A55e55ment Hub service. providing 14 rooms for people who have been rough sleeping and are coming straight from the streets. Our Plashet seThice, providing 7 rooms in East Ham for people who have been rough sleeping. Our Launchpad service in Beckton providing 12 rooms for men who have been rough sleeping and have medium to high support needs. This service runs alongside our accommodation at Bradymead in Beckton providing 4 flats for people who have been rough sleeping who have medium to hi8h support needs. Our Move on Support Service, operating from the Courtney Hotel in Wanstead and privately rented accommodation across the borough of Newham. supporting up to 40 people who have been rough sleeping. In addition to our supported accommodation services, our Community Partnerships team oversee a wide range of additional support services to help our residents to move on from homele55ness. This include5 our employment support to residents. resident en8a8ement work. and volunteerin& and we have been delighted with the outcomes this team has achieved: Our award-winnin8 work supportin8 residents in employment and training helped 79 residents to get or stay in employment. equating to 19.6% of our resident population. To support this work there were 552 resident attendances at employment and education sessions. Our Education, Training and Employment servite provides a wide range of artivities including English for Speakers of Other Languages courses IESOLI. IT. CV writin& and intensive ETE lemployment training and education) se55ions with our Job Coach. CharityregL4reiett in En8land wai¢$111477YI and a company limited tytyarantsel(W753291. RegisiEred with ReguLitoi of Social Hou5ing14B411. YOUR PLA￿ (LONDON) LIMITED TRU5TEES' ANNUAL REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne55 ont person ot a time We provided 360 attendances at Community Engagement sessions such as our Resident Sounding Board, a significant increase of 45% on activity in the previous year in pèrt due to the lifting of oronavirus restrictions and also due to our new work around women's support. We had 81 attendance5 at women's specific activities, such as Women's only Sounding Board, self- love letters and pamper session, and confidence building workshop. Gardening at Your Place, and various theatre shows. 43 volunteers undertook almost i.iXXI volunteering hours {986.5 hours). Our Trustees regularly review the progre55 of the organisation. and the main objectives which were achieved during thi5 year to meet our long-term strategy were: Despite a very challenging economic backdrop V￿ were able to maintain our seNice levels. We achieved a 92% room utilisation rate. housing and sUPPOrting 404 people across the year lan 8% increase from the previous yearl. We are pleased to report that we were able to support 76 restdents during the year who had No Recourse to Public Fund5 INRPFI, a group who are particularly vulnerable and make up a significant proportion of people experiencing rough sleeping in London. We were also able to accommodate 28 residents who came into our services during Severe Weather EmerEency Prot¢xo15 ISWEPI, a lifesaving crisis response initiative declared by local government when the temperature in the region falls below zero degrees Celsius for three or more consecutive nights. Cold temperatures can be fatal for anyone sleeping rou8h, and people are especially at risk in the winter months. SWEP 15 a local humanitarian response, in which the focus 15 getting people sleeping rou8h off the streets, eliminating fatalitie5 and reducing strain on emer8ency services. 28% {1141 of our residents rough sleeping before coming to U5. We are proud to have a had a significant impact in reducing local rough sleeping this year. 77% of the residents we supported in the year had one or more complex needs lissues with Substance misuse, mental health, and physical health). We are delighted that we have enabled a great many people with higher levels of needs to access our services to help to transform their life. We continued to st￿ngthen our work with re￿dents. supporting 115 of our residents to move on positively from our service during the year in¢luding'. c 65 moved into medium-long tern) accommodation (such as supportedlsheltered housing, Clearing House lets via St Mungo's) or private rented property- 5 going to a detox clinic or long stay hospital. c 34 internal service transfer such as transfer from dirett access assessment hub and intensive support services to low sUPPOrt services. c 10 staying with family and friends. 79 residents had a job in the year, of whith 39 residents gained new employment. 91% of our residents sustained their tenancy up to 3 months after leaving the accommodation. We are most proud of the fact that 94% of our residents sustained their tenancy for six months after leaving our services, demonstrating an astoni5hin8 over nine out of ten of our residents breaking their cycle of homelessness with our support. Charrtv reW5teredin Enèand and wales (11477941 èfKt ètompaty limitÈd tywatantee l(W753291. 8e&stèred v•thihe ReEulatorof HN9ngl48411. YOUR PLACE {LONOON) LIMITED TRUSTEES, ANNUAL REPORT {contlnued) FOR THE YEAR ENDED 31 MARCH 2023 VPLACE Solving hom•le55ne55 one person at o time We are also delighted that at the point of leaving our services, 91% of residents moving on positively rated our support quality as Wery Good" or"Good" and 77% had improved in at least three areas of the Outcome Star, the tool we use with residents to measure progression and to help us to work in partnership with residents to transform their lives. Despite the challenging environment from a fundraisin8 perspectNe, we raised £665.880 income from grants and donations in the year. We are delighted that our impatt was recognised by winning= l. the Charity Times Property Innovation Award 2022 for our innovative Hope Street seNice 2. the Newham Coun¢il Health Equity 50 Steps Award, Community Vaccine Clinic Host award 3. the UK Housing Award 2022, for Resident Employment & Training Our Chief Executive also won the Chartered Institute of Housing's Housing Heroe5 Inspirational Leader of the Year award and was a finalist in the Chartered Institute of Housing Women in Housing Award5. We were also a Finalist in the Inside Housing Development Awards 2022 for our Hope Street service. During the year, in addition to Amanda Dubarrfs roles with Homeless Link and in the sector elsewhere. we have also been active in supporting sector campaigns calling for the government to.. protect those with No Recourse to Public Funds INRPFI ensure that sleeping rough is no longer a legal ground to remove someone from the UK. repeal the Vagrancy Act protect homelessness services who are facing cuts and cost of living pressures Vla the #KeepOurOoorsOpen campaign. Chaiityce8lstereO in Eniland and Wales11147FJ41 a¢oMwylthithd ￿l￿r4*Ye¢ (w￿1291. Reoi51ErÈd with the Regulètoi of Swal Hou5ing148411. YOUR PLACE (LONDON) UMITED TRUSTEES. ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 YPLACE Solvng homèlessness one ptrrson ¢rt o timè Risk Management The Trustees have examined the financial and operational risks which the Charity faces and confirm that SY5terns, Controls and review procedure5 have been established to mitigate exposure to these risks. The Charity has a live Risk Register, which has been updated regularly durin8 the year and reformatted to in¢lude a risk map, and each of the Charit￿5 Sublommittees reviews relevant risks on a quarterly basis. The full Risk Register is updated following Sub-committee meetings and reviewed quarterly at full Board meetings. The principal risks. together with the appropriate mitigation strategies. have been identified as- (al The impact of tht COst￿fil¥1nE trisis on our employees. We recognise the si8nificant impact that the co5t￿f-LIvlng crisis is having on our team. in particular those on the lowest Salaries in our organisation. We brought forward salary increases for our lowest paid employees in late 2022 and provided one off payments to many of our team. In addition. we have arranged for extra support for our employees with this issue. such as the provision of information seThices, financial wellbeing workshops. and emotional support via Our Employee Assistance Programme IEAPI. {bl Changes in funding arrangements of contractual work I remodellinz of contracts which make thern uThvlable l undeliverable / risk of contractual breaches. As we have increased the amount of work, we are delivering under contractual arrangements whilst the etonomit climate remain5 challengin& this has significantly increased the risk of mid-term contract cuts / remodelling and non-renewal of short-term contracts l economies which are prejudicial to seThice delivery. To support our work in this area we added a key management post to our team during the year, a Head of Support Services post. We have also conducted internal audits. and commissioned at our own cost additional support vla external consultants. during the year to help in this area. Icl Failure to deliver safe service$ 15afe8uarding risks due to complex nature of dient group. With an increasingly higher proportion of our residents having more complex support needs, we are more vulnerable to safeguarding concems. The èppointment of an additional key management post, our Head of Support Services who 15 also our designated Safeguarding Lead, has supported our safeguarding practices in the year. We continue to have a Deputy Safeguardin8 Lead in our team. and we also continue to have an allocated Lead Safeguarding Trustee and Deputy Lead Safeguarding Trustee. We have held monthly safeguarding reviews with our frontline management team. considering lessons learnt. and the learning and information from these is shared with our Safeguarding Trustees of￿ considered with our commissioners. Safeguarding is reviewed at every Board meetin8. Idl InabS11ty to attrart and retsln employees of the right calib￿. The quality of our team is paramount in our work, and we have reviewed our recruitment practices and arrangernents during thi5 year to maximise their effectiveness in what has proven to be a challenging recruitment market. We have alg) introduced performance related pay. an exit Inte￿IeW system to learn from employees leaving our charity, and we have increased the learning and development opportunities and other benefits available for our employees. Chariiy rpBi5reTed In En￿afid and W*e511147794laNla(ompwhn*ted ￿gUarantee1L￿75329l. Re8iSteied Wlih Ihe ReBu￿10r01 Soual Mou￿￿148411. io YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessness ¢)ne person tsta timé Flnanclal revlew for the year During the year the Charity received Income of £5.304K12022: £4,584KI and incurred expenditure of £5,534K 12022.. £4,547KI, resultin8 in a deficit of £230K 12022: surplus of £37KI. This deficit of £230K relates to unrestricted funds. The major reason for this deficit was the deficit of £299K incurred on Integrated Rough 51eepers Support Services IIRSSSI due to lack of funding and unexpected increase in staffing costs in this financial year. The Charity had to use funds from its Eeneral reserves to meet this deficit. The Inc￿aSe In income of £720K115%1 from previous yearfs income was largely due to increase in Housing Benefit for the units ir¢ Anchor house in April 2022 and addition rental income following the opening of the Hope Street project in February 2022 and transfer of Plashet projecvs housin8 management services to Your Place in July 2022. There was also increase in support charge of £104K as IRSSS were in operation for 12 months in this financial year compared to 7 months in the previous year. The in¢￿aSe in expenditure from the previous year was E987K121%1. Of the expenditure £74K relates to planned maintenance and restructuring of the customer service department and was funded from designated reserves. This increase in expenditure was largely attributable to expenditure incurred on IRSSS. Financial revlew for future perlods Our budget for 2023-24 shows a surplus of £19K after adjusting for the termination of the Plashet, MOSS and Direct Acce55 Assessment Hub services, contracts which will come to an end on 31 August 2023. In light of the termination of these contracts, we have a financial recovery plan to reduce our overhead costs and some direu costs. which we predict would create a savin8 of £50K for the year 2023-24 and £IOOK for future years. In line with our strategic plan, we continue to seek to expand our services. Currently, in addition to London Borough of Newham, we ore working with other local authorities to deliver intensive support services to more residents. This will generate more revenue for the current and future years. Trustees are pleased to report that at the date of approval of this report the Charity has performed well in exceptionally challengin8 circumstances. Reserves At 31 March 2023, unrestricted reserves stood at £10,275K12022: £10,504KI. of which £9,OOIK is represented by the net book valije of fixed assets less outstandin8 loan finance. Of the balance of £1,274K, £909K has been designated for a cyclical programme of major repairs, £43K for residents, furniture and equipment and £46K to covergrant cessations, and the remaining £276K is held in general reSe￿e5. The Trustees have the authority to make these designated funds available for other purposes if required. The Trustees have reviewed the reserves of the Charity taking into consideration future artivities, uncertainties, and risks and have concluded that the appropriate level of reserves required is in the range of £1.2M to £l.SM. We will continue our effort5 to build these reserves over the next few years from £276K 12022.. £485KI to the required level through prudent financial management. As part of this exercise, Trustees have also reviewed the management accounts for the first quarter of the year 2023-24 and the forecast for the year and are confident that the Charity will continue to be able to build towards the required level of reserves. ChaTii¥re4tsiwed itl EheiarK*an¢ wèie$ 111477Ylahd è cvrnoany tygtsarameelLW753291. Registered with the Re&J￿r0[ of soc￿1 Housing148411. li YOUR PLACE (LONDON) LIMITED TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Sdving homeless￿$$ one person ato time The Trustees have also acknowledged that the Charity is largely reliant on rese￿e5 for future 8rowth and expansion and have agreed that the Charity should be able to use part of the reserve5 for thi5 purpose if needed provided that this does not impact the existing operations and that realistic Strategies are in place to replenish them. The Board of Trustees has desi8nated a Post Grant Continuity reserve of £46K12022.. £50KI to provide interim cover where a funding source has ceased le.g.. for a staff p051tionl or increase in costs due to inflation. until replacement fundin8 can be found. The Board of Trustees has designated a Major Repairs fund of E909K12022: E776KI to ensure that the Charity has sufficient funds to maintain its building asset where our residents live. in good condition, including planned maintenance and replacement of various components at the end of their useful economic life. The Board of Trustee5 has designated a Resident5 Furniture & Equipment fund of £43K12022: nil) to replace residents, furniture and equipment both in their rooms and in communal area5. The Fixed Assets Fund of £9,CQIK12022= £8,969K} is intended to represent the net book value of unrestricted tangible fixed a$5ets, less the outstanding loan finance raised to facilitate the acquisition and development of capital improvements. Plans for Future Years This was the second year of our five-year Strategic Plan for the period April 2021 to March 2026. This plan sets out an ambitiOU5 roadmap around five key goals. By March 2026, we will: l. provide additional specialist supported housing. offer an expanded range of complementary seNices. 3. be a sustainable organisation. 4. be a great place to work. 5. be a trusted voice in the community and sector. Havin8 made Significant pro8re55 in delivering Goal I V￿th the development of our new Hope Street service and our four new services for people sleeping rou8h in partnership with CGL we began to look ahead to options which will enable us to provide fvrther move on housing for our resKlents. to ensure that good quality ccommodation is available when residents are ready to move on from our services. This has proven to be challenging in the current financial climate with interest rates at a record high. and we continue to explore options which may be viable. We restructured our 17ousin8 mana8ement and customer services fundion durinB the year to support our new multi-site provision. We made si8nificant progre55 in Goal 2, with the Community Partnerships team. which was formed the previous year, delivering some impressive outcomes in the areas of employabilityi trainin& education, volunteering and community engagernent work. We were delighted to achieve our strategic ambition to provide a more gender informed support offers for the many women using our services. when we were able to raise funding to appoint three posts focu55ed on this area of work. We were pleased to be able to support Chèrffy rewsiered in Enwart63n#wa￿$I1I477￿l a ¢omp*y Amiied lrywJar4ni* Iw753291. Re￿Stered %%Tth lae Regulator of Soa¥ Houyns148411. 12 PLACE Solvin9 homelessness one pprson ot o time YOUR PLACE {LONDONI UMITED TRUSTEES, ANNUAL REPORT Iwntinued) FOR THE YEAR ÉNDED 31 MARCH 2023 a significant number of particulady vulnerable people with No Recourse to Public Funds during the year. We broadened our ability to support people experiencing rough sleepin& including offering provision for those coming off the streets as a direct result of a period of severe weather. We also refurbished space to create a Faith & Wellbeing room, to better meet the spiritual needs of our residents and reflect the importance we place on our Catholic heritsge alongside the multi faith community we support. In Goal 3. we have continued to make excellent Pro8￿$$ in upgrading our facilities for residents and maintaining our asset at Anchor House. investing £217k in bedroom refurbishments and fire door replacements, and tronsforming our reception and lobby facilities. as well as refurbishing a meeting room to become our Faith & Wellbeing room. The Anchor House facilities were also brightened up considerably by the Your Place signage, wayfairer signage and positive affirmations developed with our resldents which have gone up throughout our communal areas. Unfortunately, these investments in our provision from our reserve5 and the challenges following the pandemic and the C05t-of-Living crisis, have led to a deficit position at the end of the year. We are grateful to our many generous 5UPPOrters who donated £665,880 income through grants and donations in the year. As we go forward, we will look to replace the monies we have invested from our reserves to ensure that we can continue to look after our residents and our asset at Anchor House. and to remain financially sustainable in the long term. Our Green Project. which works to reduce our environmental impact, has been extremely effective in quickly improving our environmental sustainability, with 518nificant successes such as the use of solar panels, a switch to eco paints, a replacement petrol van with an electric van for our food & donations colledions. the implementation of recycling, working with residents to create greener spaces, and the removal of single use plastics & water bottle5 from our services. For Goal 4, we want Your Place to be a place where people want to come, do their best work and develop. To deliver the best Service to our residents, we need a diverse group of employees and volunteer5 who can bring their dynamism, professionalism, energy and tenacity to help us achieve great outcomes together. We have worked hard during the year to refresh our approach to people management, which has included a significant increase in learning and development opportunities for our employees, additional development for our managers with two Leadership Development Programmes. and the launch of our first Belonging Strategy. We are proud of the work we have continued to invest in on equity. dNersity and inclusion and our active 8elon8in8 Committee which has been overseeing our approach with us around this. In a post Covid world we have also had a significant focus on employee wellbein& investing in various support initiatives throughput the year for our team. including access to clinical supervision across our frontline team, access to free support and counsellin8 for all employees through our partner Cic Wellbein8, and new Mental Health leave days which are available for all of our team. Ch411tyre8kTÈrÈtt ID England and WAI￿{lI47791) and a Comp￿￿￿￿e￿ tywarapiee IC607S3291. Re81Stered wSth the Rewlitorolsocial Housing148411. 13 PLACE YOUR PLACE ILONDONI UMITED TRUSTEES. ANNUAL REPORT {contlnued) FOR THE YEAR ENDED 31 MARCH 2023 Solvin9 hgmelessness one person ot a time For Goal 5, we have increased our employee resource around impact management, funding a second post in this area which helps us to better measure, understand and report on the outcomes and impact of our work with people experiencing homelessness. We have also fotussed on giving our re5ident5 a voice, with a dedicated Community Engagement Officer role and a significant increase in the number of community engagement opportunities we have beeft able to run and offer our residents. We are proud that a great deal of our public communications have given our residents a platform alongside us to share their stories and views. supported by our rebrand which has focussed on putting our residents at the heart of our work, making gur services their place to feel Safe. to feel their feet on the ground. and to start again. We have continued to support campaign work in our sector which will give our residents a better deal, and we have also campaigned thi5 year to raise awareness of the financial vulnerability of organisations in our sector as part of the #KeepOurDoorsOpen campaign led by Homeless Link. Our Chief Executive ha5 continued to Co-chair the Newham Homelessness Forum and Chair the National Advisory Council on behalf of Homeless Link. We continue to work with our partner5 to increase our impact for our residents and to grow our offer to those experiencing homelessness and disadvantage in our community. We embrace change and welcome others to loin us in solving some of socieVs most challenging social issues. We look forward to developing new collaborations to support our residents and the community to achieve their potential. It is important that the voices of those engaged in this work are heard. The lack of stability in funding from government sources continues to mean that our ability to deliver the right services to people experiencing homelessness can be significantly impacted. The human cost on our staff who lack certainty in their employment should not be ignored. Nor should the waste of valuable resources in endless recruitment to meet the vagaries of the fundin8 priorities be underestimated. We want to work with all engaged in solving this shameful social issue to do it better than is bein8 done now. ChaFrty re8K4teredin En#￿￿ andwa￿511147791) and a(ompany ￿￿ted ￿￿aran￿e I1￿?53?9). Regsrwed ￿th the Reev￿￿¥ ¢lSoti•l H¢￿$17£(1841). 14 YOUR PLACE {LONDONI UMITED TRUSTEES, ANNUAL REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessness one person ot o time Statement of Trustees, Responslbllltle5 The Trustees (who are also directors of Your Place for the purposes of company13wl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wlth applicable law and Unr(ed Kingdom Acwuntin8 Standards Iunlted Kingdom Generally Accepted Accounting Practicel. Company law requires the Trustees to prepare financial statements for each financial year which Bive a true and fair view of the state of affairs of the charitable company and of the in¢ome and expenditu￿ for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. obseNe the methods and printiplès in the Charities arhd Social Housing SORP. make judgments and atcounting èstimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the finartcial statements: and prepare the frnancial statements on the going concern basis unless it is inappropriate to p￿sume that the tharitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detecbon of fraud and other irre8ularitie5. So far a5 each of the Trustees is awa￿ atthe time the report is approved.. there is no relevant audtt information of whi¢h the Charitable companV5 auditors are unaware,. and the Trustees have taken all steps that they ought to have taken to make themselve5 aware of any relevant audit information and to establish that the auditors a￿ aware of that inftymation. Statsment of Board of Trustees on thtemal Ilnandal controls The Board of Trustees aCkno￿edge ttsoverall responsibilityfor establishing and malntainingthe wholesystem of internal controls and reviewing its effectiveness. The system of internal control is designed to manage, rather than eliminate, the risk of failureto achieve business objectives. and to provide reasonable assurance a8ain5t material misstatements or loss. The process for identifyin& evaluating and managing the significant risks by the Charity is ongoing and has been in place throughout the year up to the date of approval of the report and financial statements. The key elements of the control and sources of a55urance include- Cleady defined management responsibilities and procedures for the identification. evaluatlon. and control of significant rlsk Risk register and dsk management reports. Perforrnance reports External audit reports Detalled finanaal budgets. management accounts and forecasts. Policies and procedu￿5 for all area5- Safeguardin& Health & Safety. Human Resource. Finan￿ & IT. These polices and procedure are reviewed by the Sub-committees and the Board on a regular basis. Established a4rthorisation and appraisal procedures for new initiatives and commitment5. Regular reportin8 to the appropriate Sub-committee5 and Board on key business objettives, targets. issues and outcomes. Charity re815rerpd In Engi4tQ and waiÈ$111477941 and a tOMp¥ry￿rnited ￿l￿rantee l(WJ7S3291. Re8i5reredwilh the Regulèt¢F ofS¢cLèl HouSin81484LI. Is PLACE Solving hom•l•s$n•ss one person ot o time YOUR PLACE (LONDON) LIMITED TRUSTEES, ANNUAL REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2023 The key areas cover control, information reporting 5YStem5. monitoring and risk management. Control The Board of Trustees retains responsibility for defined range of area5 covering strategic, operational, and financial elernents. The Board of Trustees has put in place an organisational structure which clearly defines lines of responsibility and delegation of authority. Informatlon report5ng system Financial reporting Systems include regular reviews of overall financial business plans, preparation of detailed annul budgets and the production of detailed rnonthty management accounts. These are prepared by the Senior Management Team and are considered and approved by the Sub-committee and the Board. The Senior Management Team and the Board of Trustees also review performance regularly to assess progress towards the achievement of key business objective. targets and outcomes. Monltorfng A process of regular management monitoring on control issues provides assurance to Senior Management Team and Board of Trustees. This includes a rigorous process of ensuring that corrective action5 are taken in relation to any significant control issues and the recommendations of our consultant internal auditor. R15k Management The charity has a comprehensive risk management strategy which identifie5 f15ks facing the Charity, risk management responsibilities. and action required to mitigate these risks, and monitoring arrangements. The Trustees. Annual Report which incorporates the strategic report was approved and Signed on behalf of the Board on 19 September 2023 Simon Hall- Chair & Trustee Charity iewstereo in En￿1￿d and Wa￿(11477941 and acrffipwy kmlted typJaffaDtee l(•J753291. Re815tered*ith the ftewL3torof Sooal H￿￿n￿ll841l. 16 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE ILONDONI UMITED PLACE Solving homele55ness one person at a lime Opinion We have audited the financial statements of Your Place (London) Limrted for the year ended 31 March 2023 which comprise Statement of Financial ActNlties, Balance sheet. Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting polities. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Finonciol Reportinqstondardapplicable in the UKand Republic of Irelond Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the charitable companws affairs as at 31 March 2023 and of the charitable companvs net movement in fund5. including the income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2CK)6. the Housing and Regeneration Art 21x18 and the Accounting Direction for Private Re8iStered Providers of Social Housingfrom January 2019. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements sertion of our report. We are independent of the Charity 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 eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the trusteeg use of the 8oin8 concern ba515 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 relatin8 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 Infom)atlon The Trustees are responsible for the other information. The other information comprises the information included in the Trustees. Annual Report. 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 doin8 so. consider whether the other information is materially inconsistent with the financial statement5, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misstatements. we are required to determine Chariiv reg￿tEred In En8iand and wa￿%11147794l and a companyliniited tyyrantee ICQ075V91. RegL5tere¢ with the Rewlai¢r tsf Sotial H￿s1￿14841). 17 PLACE Solving homelessness one person at o time INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE {LONDONI LIMITED Icontifbued) whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on ihe work we have performed, we conclude that there is a material misstatement of this other infom)ation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Art 21x16 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the Trustee5' Annual Report Iwhich includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statements; and the strategic report and the directors. report included within the Tru5tees' Annual Report have been prepared in accordance with applicable legal requirements. Matters on whlth 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 misststements in the Trustees, Annual Report Iwhich incorporates the strategic report and the dirertor5' report). We have nothing to report in respect of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept by the charitable company: or the charitable company financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responslbilitles of trustees forthe financial statements As explained more fully in the trustee< responsibilities statement set out on page 12, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for bein8 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 mi55tatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable compan(s ability to continue as a going concern, disclosin& as applicable, matter5 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. Audltorfs responslbllltles for the audit of the flnancial ststemerts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance 15 a high level of assurance but is not a guarantee that an audit tondvcted in actordance with ISAS IUKI 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 basi5 of these financial statements. Chèrity le8￿tered ￿ Erteiand Wak511147tyI1 and a wnw•ylinbiÈd iryBuèraMee l(W753291. Re4isiered with rhe fleW￿lorof Soc￿1 Housbn8148411. 18 PLACE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE (LONDON) LIMITED IcontiTrued) Solving homelessness one person ata time Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line w¢th our responsibilities. Qutlined above, to detert material misstatements in resped of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5, including fraud is detsiled below: Based on our understanding of the charitable company and the environment in which it operate5, we identified that the principal risks of non-compliance with laws and regulations related to social housing, safe8uardin& fundraisin& employment and health and safety regulations and charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulationsthat have a direct impact on the preparation of the financial statements such as include the Statement of Recommended Practice for registered Social Housing Providers 2008, Companies Art 2CL16 and the Charities Act 2011. and considered other factors such a5 income tax. payroll tax and sales tsx. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements linduding the risk of override of controls). Audit procedures perfomied by the en8a8ement team included: Inspecting correspondence with regulators and tax authorities: Discussions with management including tonsiderdtion of known or susperted instances of non-compliance with laws and regulation and fraud,. Evaluating manaBement's controls designed to prevent and detert irregularities; Identifying and testing journals- and Challenging assumptions and judgements made by management in their critical accounting estimates Because of the inherent limitstions of an audit. there is a risk that we will not detect all irregularities, including those leading to a material mi55tatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be le55 likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities forthe audit of the financial statements is located on the Financial Reporting Council's website at= www.frc.or auditorsres onsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable company's rnembers. 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 Auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we have formed. 17 ge• Qo23 Lee Stoke5 (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP. Statutory Auditors London EC4R IAG Chatl aftdacornp•vlimii*d ￿l￿ara￿tte{w75329I. ReAiStered svith thE Reguiitorof knial H¢USltiII48411. 23 PLACE YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2023 Solving homele55ness one person oto tim• is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisiofls. Income Intome fmm charitable artivities represent receipts from residential at¢ommodation, sUPPOrt service and laundry facilities. Donations and legacies are accounted for when received by the Charity. Other income is accounted for on an accruals basis as far as it is prudent to do 50. Revenue grants are credited to the statement of financial activities as received, unless they are to be spent in a later year. when they are deferred. Expendlture Expenditure is recognised on an accruals basis. Governance costs comprise the costs of running the Charity, Including Strategic planning for its future development. internal and extemal audit. legal and professional advice and all costs of complying wFth constitutional and statutory requirements. such as the costs of Trustees, meetings ènd of preparing statutory financial statements and satisfying public accountsbility. Tangible fixed assets The property is freehoSd, being Situated at Anchor House, 81 Barking Road, London E16 4HB, and is included at cost, less depreciation. The land is included at cost and is not depreciated. Assets under the course of construction are not depreciated until the work has been completed and the a55et brought into Use. Depreciation is calculated to write down the c05t less estimated residual value of all tangible fixed assets other than freehold land over their estimated economic lives. Using component costing principles freel)old property is dFvided into components vthich are depreciated over the following years-. Building structure 60 years Windows. bathrooms and flooring 15 years Heating and electricity systems 15 year5 to 30 year5. a5 appropriate Kitchen 20 years Lift 30 years In the previous year the freehold property was depreciated at 2.IXI% on a straight-line basis. Component accounting was introduced from I" of April 2019. AII Pcs and laptops regardless of their values and other tangible fixed assets exceedin8 Él.OCiI are stated at cost net of depreciation. Depreciation is calculated at the following annual rates: Fixtures, fittings and equipment Motor vehicles Charity reslstered IP Ewland and Wh￿5 IlJ47794}affldacornwySwAtod by8uèiaDIÈèI0807532gk Re815teied ￿ththe Rew5atorof SoDal H￿S￿￿148411. 10-33% straight line, as appropriate - 25% straight line 24 PLACE YOUR PLACE (LONDON) LIMITED NOTES TO TrIE FINANCIAL STATEMENTS AS AT 31 MARCH 2023 Solving hoM•loSs￿ss one pèrson at a time ACCOUP4TING pouaES (contlnued) Ihl Investments Investments are stated at their middle market values ruling at the balan￿ sheet date. The realised and unreali5ed gains and losses on investments are calculated based on the opening market values and are accounted for within the Statement of Financial Artivities. Income arisin8 from these investments 15 accounted for when it 15 receivable. Stocks Stocks are shown at lower of cost and net realisable value after making due allowance for obsolete and slow movin8 Items. Debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highty liquid investments. Credltors and provlsions Creditors and provision5 are recognised where the Charity has a present obligation resulting from past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. (m} Designated funds The Trustees may set aside amounts of unrestricted funds, at their discretion, for specific future purposes. such funds are shown within unrestrirted fvnds as designated funds. Where the trustees decide that designated funds are no longer required for the purposes specified, these are released from designated funds. {n) Re5trlrted funds The restricted funds are monies raised for. and their use restricted to, a specific purpose or donations subject to other donor-imposed conditions. Transfers are made to unrestricted funds where amounts raised for specific capital projects are spent. lol Taxatlon A5 a registered Charity. Your Place benefits from rates relief and is generally exempt from taxation on its income applied for charitable purposes, but not from Value Added Tax. Irrecoverable Value Added Tax is included in the cost of those ttems to which it relates. Charity rÉ8htèred in and wa￿5(1141194l and a cornpany &miied ty•Mramee l(W753291. RegisierEd with tk* ReÈularoi ofsooal H¢USltI¢148411. 25 YOVR PLACE {LONDONI UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessn8ss one person at a time 2a Income from donations and 8Trnts: Income from donatlons: Unrestrict¢d Re5trirted 2023 2023 Total Tot#1 2023 2022 Donations Donation in kind 114.617 27.603 3,756 31.359 142,220 3.756 145.976 160,022 55,050 215,072 114,617 Income from grants: Unrestrfcted Restrlcted 2023 Total 2023 Total 2022 2023 The Monday Charitable Trust The Borrows Charitable Trust PF Charitable Trust uilding Societies Trust Limited The Albert Hunt Trust Swire Charitable Trust J A Rose Trust National Lottery Community Fund CAF The Drapers, Charitable Fund John Armitage Charitable Tnjst French Hu8uenot Church of London Charitable Trust Trust for London City Bridge Trust L8N The Fishmongers, Compan￿$ Charitable Trust All Churches Trust Ltd Morrisons Foundation White Oak Charitable Trust The Sisters of The Holy Cross Charitable Trust The Charilable Committee of The Vintner's Company Amold Clark Community Fund Ecclesiastical Insurance Neighbourly- B&Q Coco Joelle Foundation 6,450 5,000 2,000 40,000 5.000 7,500 5.000 5.000 25,C 25,000 7.000 5,000 33,275 33,275 1.9C 25.000 20,000 20.OCL) 20,000 5,000 12,500 50,000 7,978 15,000 6,000 6,500 1,000 20.000 30.175 50,IXKI 30,175 50,000 IDJO 20.000 20.OCQ 5,000 5,0(Kl io,ocx) 75,000 19,999 75,(M)O 19,999 25,CM)O 19,999 390,CKJO 11,077 Portal Trust GLA DWP Flexible Support Fund Grant YOUR PLACE {LONDONI UMITED 37,977 37,977 Chaiiiy iÈwsièrÈd In and Wa￿511147794) aftd•comp•iy &￿1¢￿￿1￿•ralll￿ IiW7S3191. Reth5tered ￿¥th ihe AeevLBiorylSoo• HOU5ing148411. 26 NOTES TO THE FINANCIAL STATEMENTS Icontinued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homeless￿55 one person at a time Unrestrlrted Restrfcted 2023 2023 Total 2023 Total 2022 Charles S French CT Clifford Chance Foundation Yorkshire Building Society Assura I Cheshire Community Foundation Aspers Casino Good Causes Fund Marsh Charitable Trust The Poor Fund of the Worshipful Company of Fan Makers 2.5(KJ 5,050 2,5 5,050 3,￿0 2,892 2,1￿0 4,975 4,388 1.462 1.462 800 8¢XI 3.750 3.750 3,750 The Lyon Family Charitable Trust Charlotte Marshall CT 60.C 1,8 1,800 Barber Charvet Trust 15.C(K) 15,000 5,000 3,CQO Schroder Foundation NBC Universal The Augustine courtauld Trust St Martin in the Field Vicar's Relief Fund 29th May 1961 CT Royal Docks Trust Nationwide Community Foundation Sainsburys Helping Everyone Eat Better Community Grant Fund Garfield Weston Foundation Edward Gostling Foundation Clothworkers Foundation 750 750 199 199 3,0(X) 10.0 16,667 3,000 10,000 16,667 1.500 1.500 25,000 25,000 5,000 50.000 io.wo 25,Ll 25,CKIO Clothworker5 Foundation LB Newham Community Assembly 50,C(() io,( 91.3 428,604 519,904 788,009 Total donatlon5• grants and legades 205.917 459.963 665.880 1,C(13,081 YOUR PLACE (LONDON) LIMITED Charity re&￿tered in England and Wale511147794land a cornwy ￿TrIlled ￿l￿ar￿Are*{￿lS329l. Regisieied wilh Rewlatoi of Social Housin$148411. 27 NOTES TO THE FINANCIAL sfATEMENTS {continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE solving hom*l•s$n•ss one person ot o time 2b Income from d)arltsble a¢tl¥ftles Unrestricted Restricted 2023 2023 Total 20Z3 Total 202Z Accommodation Housin8 Related Support Rough Sleepers Initiative Sundry income Laundry income 3.355.439 l.ClJl.972 224,140 25.425 5,136 4,612,112 3,355.439 2,378,701 l.CQl.972 811.142 224.140 311.ODO 25.425 54.358 5.136 4.365 4.612.112 3.559.566 All income in 2023 and 2022 was unrestritted. 3 Soc5al hou55ng lettln85 Rent receivablè excluding Service charges Serwce charge receivable Grants and other income Turnover from soclal housSng lettlngs 1,485,117 1,052,813 1,870.322 1,325,888 1,851,164 1,775,243 s￿,603 4,153,944 Operatlng expendlture on Soda houslry lettln 5.378.379 4,479,525 Operatln8 surplus offt sotlal h(Mtsin8 lettin85 Financing costs Surplus on social houslng lettln8S (171.7761 162.6721 {234.4481 {325.5811 167.7821 {393.363) Void10sse5 360.839 404.472 The void Ios5 in year 2022 was parWy due to planned and unplanned maintenance works on residents. rooms at Anchor House. 4 Cost of ralsin8 funds 2023 2022 Staff costs Other direct costs Support costs 139,180 36.376 69,327 244,883 134.495 32,461 54,438 221.394 5 Charitable activities Other Dlrert Tot•1 2023 Tot•1 2022 Costs Support Anchor House Inte8rated Rough 51eepln8 Support Services IIRSSSI 1.581.435 1.548.801 645.405 3,775,641 3,523,881 1,019.109 2,0￿,544 245.820 1,794,621 248.423 893.828 1.513.352 802.032 5,288,993 4.325,913 Charrtyrt*srerel in ErydL)nd and w¥es Il1477941 and a c(%nwYhM￿1vRvaOn1ee(￿l5329K Reg15tered thith the Regulator cl SKial Houyni14841k 28 YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Sdvin9 homelessness one person at o time Support costs allocation to actlvltles Totsl Total Anchor House Furbdraising 2023 2022 Staff cost5 Staff trainin8 and recruitment Office expenses Legal and professional fees Other cosls 46,130 9.204 11.764 1.931 299 69.328 429,444 85,684 109.518 17,973 2,787 645.406 165,297 32,981 42,155 6,918 1,073 248.424 640,871 127,869 163,437 26,822 4,159 963,158 480.835 27.018 221,039 34,247 20,641 783,780 Support costs have been allocated to activates based on number of people employed within each activitv. 7 Governance Costs 2023 2022 Staff costs Auditors, remuneration - Audit fee Legal and professional fees Trustee expenses 55.438 18.4(Kl 3.023 3,328 80,189 53,396 16,078 13,091 218 82,783 The Trustees received no remuneration12022= £Nil). Expenses relating to travel and training were reimburse(J or paid to third parties on behalf of Trustees. These amounted to £3,32812022: £2181. 8 Staff costs 2023 2022 Salaries Social security costs Pension Termination payment Casual workers 2.183.046 222.090 128.961 1,962.811 190.586 116.610 5.809 498.110 2,773,926 844.498 3.380.595 The average number of staff in the year was 8812022=751= calculated on a full-time equivalent basis, the figure wa5 8612022.. 73 (including casual workers)- The number of employees with annual taxable emolument5 paid more than £60,[￿ per annum was: 2023 2022 £60,CMX)- £69,999 £70.000- £79.999 E90.￿04100.999 The total remuneration of key management personnel for the year was £310.17212022- £302,232). Charrty regisiered Ensla￿ and Wale5111477Ylind aC￿￿an¥ kmiied tywaiafftieellW753291. Re8151eTed wllhthe Regulator olsodal HouSffti148411. 29 PLACE Solving homelessness one person ot o time YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023 8 Staff costs Icontinued) Included in the above were payments to the Chief Executive, being the highest paid employee. amounting to £92,500 for the year excluding pension contribution12022.. £88.0341. The Chief Exetutive is a member of the Charivs defined contribution pension scheme. The charity contributes 7.5% of the salary to the Chief Executive's pension. and the Chief ExecutNe contributes the same percentage of her salary. 9 Tanglble Ilxed a55ets Freehold Land and Buildings Motor Vehlcles Fumlture & Equlpment Brand Total Cost At l April 2022 Additions Eliminated on disposal At 31 March 2023 12.990.762 194,454 I8.1￿1 26.400 19,1771 35.284 509,953 22.662 13.518,776 325,016 19,177 13,834,615 81,500 13.185.216 532.615 81.500 Depre¢iation At l April 2022 Charge in the year Eliminated on disposal At 31 March 2023 2.159.853 291.223 I8.C￿l 5,280 19,1771 18.061 184,576 .085 2,362,490 394,738 19,1771 2,362,490 8,150 2,159,853 184.576 Net book value As at 31 March 2023 10.734.139 21.120 257.955 73,350 11,086,564 As at 31 March 2022 10,830.909 325,377 11.156,286 10 Investments The Charity own5 IW% Share capital of the subsidiary company. Learning & Development Academy Ltd, which remained dormant in the year. 11 Stocks 2023 2022 Consumables 5.086 5.086 5,323 5,323 IZ Debtors 2023 2022 Trade debtors Prepayments VAT due Other debtors 667,464 113.160 279,279 127,395 57.985 52,438 517,097 56.050 836.674 Chaiityre8isieod In EnWarK¥and wa￿$ 111477941 ano •con4wv knkieo ￿8￿a￿a￿tte4￿F5321. Re8iSTÈfe¢ Wlih the Re8uLitoi of 50(i¥ Hov5inglWII. 30 PLACE Solvin9 homeless￿55 one person ot o time YOUR PLACE {LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 13 Credltors- Amounts falling due wlthln one year 2023 2022 Bank loans (note 151 Trade creditors Accruals Social security and other taxes Pension fund Other creditors 105,554 271,855 258,402 47,919 19,532 183,872 887,134 100.614 538,505 60,409 47,672 17,256 78,238 842,694 14 Creditors- Amounts falllnz due outslde one year 2023 2022 Bank loans (note 151 1,980,359 2.086.225 15 Bank loans The current loan is secured on the property at 81 Barking Road. London E16 4HB and associated assets. The repayment schedule for the new loan is a period of 25 years, ending on 17 February 2046. The applicable rate of interest is 2.73% fixed rate for 15 years from February 2021, and then a variable rate of 1.75% over base rate for the remaining term of the loan. The Charity also obtained a social investment loan of £120.OCrf) from Homeless Link for the Barn project during the financial year 2020-21. This is an unsecured loan and is repayable over 42 months. ending on l October 2024. The applicable rate of interest is 8% fixed rate. 2023 2022 Repayments are due as follows Within I year Between 2-5 yea Over 5 year5 105,554 301,136 1,679,223 2.085,913 100.614 334,735 1,751,490 2.186,839 Charw re8isiered In En8l•né and Wale51)L477941 atKJ a comwy finHwd tyluara￿Iee Iw0753291. Re&￿t￿ed wbth the Regulaior of Social HL¥jS￿g14s41]. 31 YOUR PLACE (LONDON) UMITED VPLACE Solving homelessness I)￿ person oto time NOTES TO THE FINANaAL STATEMENTS (rontinued) FOR THE YEAR ENDED 31 MARCH 2023 16 Unrestr5cted Funds Redurtion In long temi Loans At31 March 2023 At l Aprfl 2022 Income and Gains Expendlture Transfer5 Gentral 484,452 4,844.332 15.073.5831 121,603 1100,9261 275,878 De51gn*ed funds:_ Flxed Assets Post Grant Continuity Contin8ency Fund Major repair Fund Residents Furniture& Equipment (renewals & placèmentsl Acce55 Control 8.969,447 50,0(XI 30.OIY) 6.058 169.7221 13.5731 130.&XII 133.336 42.766 100,926 9,OCIJ,651 46,427 909,394 42.766 194.410 1194,4101 10,504,367 4,844.332 {5.073.5831 10,275,116 The Fixed Assets Designated Fund represents the net book value of unrestricted tsngible fixed assets less the outstanding balance of the long-term Property Loan. Each year amounts are transferred to QT from the Flxed Asset Fund, representing the movement in the net book value of the vnrestricted tangible fixed assets in the year and the reduction in the long-term loan. as capital is repald. The P05t Grant Continuity Fund repre5ent5 money set aside to cover costs Incurred where funding has ceased. Contin6ency Fund represents money set aside to cover costs relating to the restructure of certain departments. The Major Repairs Fund ￿presents money set aside to cover major repairs on CAH building. Every year an amount Is allocated to each component I￿ndOws. bathroom5, floorin& heatirvg and electriaty systems, lift. and krtchen) based on their useful economic life and estimated replacement Costs. The Residents Furniture & Equipment Fund represents money set aside to ￿plaCe residents, furniture and equipment both in their rooms and in the communal area. The Access control fvnd represents morley Set aside to replace the old access control system. Chanty iegk8tered in En8khd ontt waiesllla77YI ano a companylmrted tsyw¥antee lo￿753291. Rew51ered the Re{u￿t￿rOf Soci4 Hou5ins148411. 32 YOUR PLACE ILONOON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessness on•p•rson at a timt 16 Unrestricted Funds Icontlnued) Prfor year Reduction In long term Loans Atl At31 March 2022 In¢ome and Galns Expendlture 2021 Transfers Genernl 832.575 3.834.342 14,247.7051 140.285 175,0451 484,452 De5i8nated funds:_ Fixed Assets Post Grant Continutty Contin8ency Fund Major repair Fund Residents Furniture& Equipment (renewals & replacementsl Access control 8.383.456 So,￿0 510.946 75,045 8,969,447 50.000 30,000 776,058 30, 74,396 1146.1451 701.662 146.145 350.OX) 9.701.358 1155,5901 13,132 194,410 10.504.367 3.686.028 12.936.680) 17 Restrlcted Funds Atl Mar¢h 2022 At31 March 2023 Income Expend5ture Transfers Personal Development Education, Training and employment Move-on Donation in kind Capital fvnd Assessment Hub Food Transport Women Co- Ordinator Service 64.1>37 164,0971 215,217 27,756 3,756 92.496 1215,2171 127,7561 13.7561 192,8261 (s.0￿) 11,5WI 20,0 20,000 17,670 50,141 150,1411 38.C(Q 459.963 1460.2931 37,670 Chaiily re8bEEred In Eneland wa￿S {11477941 ar￿ acompany limited typJafantee1080753291. Be%ist?red With the ReE￿at0r0f Soaal Tr+ou5ing148411. 33 PLACE Sdvin9 homelessnèss one person at a tbme YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS lcontlnued) FOR THE YEAR ENDED 31 MARCH 2023 17 Restrfcted Fund5 Icontinuedl The transfers represent the capitsl expenditure in the year. Personal Development This fund SUPFK)rts our vulnerable residents with high levels of isolation, low self-esteem and complex challenge5 on their journey back to independent INing through structured personal development and Social activities. Move-on This fund 5UPPOrts our tenancy sustainalxlity service, allowing us to assist sin8le homes residents to access independent accommodation. Edu¢at•tin Trainin8 and Employment This fund sUPPOrts our residents with education, training and employment opportunities. Learning new skills helps our resident5 to improve their seSf-esteem and 8ain experience so that they can re-enter the workforce. Donatlon In Klnd This fund represents the value of furniture, other tterns and services donated by various organisations during the year. Capital Fund This is a restricted fund to be used on CAH'S wider capital programme includin8 the Hope Street project. Women Ctrordinator Service This fund supports specialist accommodation-based support to women across the Charity. Food Transport Thi5 fund supports transportation of food donated by our partners to the residents. Assessment Hub This fund supports the Assessment Hub's residents, personal needs including food and clothin& and their move on programmes. At 31 Marth 2021 At 31 March 2022 Income Expenditure Transfers Personal Oe¥elopment Education. Training and employment Move-on Donation in kind Capr(al fund As5e55ment Hub Comd Kickstart TraiThng 101.425 1101.4251 101,586 64.923 55.050 412,701 1101,5861 144.9231 I37.6￿) 20,OC(J 117.3601 1436.S321 41,831 18,OCK) 15.C(Ql 13.9781 3.978 41,831 749.663 1299.6021 1453,8921 38,OLXI Charityre8istered In En￿￿￿ and wa￿$(11477￿1è￿d a by waranEeelW￿29tr. Aeg￿tert￿￿th the RwL4tOr of Sotia H￿$*￿14841]. 34 YOUR PLACE {LONDON) LIMITED NOTES TO THE FINANaAL sfATEMENTS (continuedl YPLACE Solving homele55ness one person at a time YOUR PLACE (LONDON) LIM￿ED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2013 18 Analysls of net assets between fvnds Unrestrlrted Desl8nated Funds Funds Restrlcted Funds Totsl 2023 31 March 2023 Fixed assets CLbrrent assets Current liabilitie5 Long term liabilities Total net assets 11.086,564 998,587 1105,5541 11.980,3591 9.999.238 11.086,564 2,093,715 1887.1341 11.980,3591 10,312,786 1,057,458 1781.5801 37,670 275,878 37.670 Unrestrkted Funds Deslgnated Funds Restrfcted Funds Total 2022 31 March 2022 Fixed assets Current assets Current liabilities Long term liabilities Total net assets 11.156.286 1,050.468 11(Ki.6131 12,086,225) 10,019.916 11.156.286 2,315,000 1842.6941 12,086,225> 10.542.367 1,226.532 1742.0811 38,CrfJO 484.451 38,1 19 Capltal commltments 2023 2012 Refurbishment Fire Doors Rebranding and new website 108,022 194,410 57,360 251.770 108,022 Chaiityre8tstÈred In Enilandand Wa￿5 Illd77YI and a cornpanv krnited tywaiaffliee IiB)753291. RegistErEd with Ehe Rewlotor of S00èl HouSin8148411. 35 YOUR PLACE (LONDON) UMITED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvirbg homelessness one person at a lime 20 Leasing commitments The Charity's future minimum operating lease payments are as follows= 2023 2022 Wlthin one year Between one and five years 11,151 8,539 12,022 31,712 19,690 43,734 The telephone system and photo copier are held under operating lease arrangements. 21. DETAILED STATEMENT OF FINANaAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2022 Unrestrltted funds 2022 Restrlrted fund5 2022 Totsl Funds 2022 Notes INCOME FROM Donations, grants and legacies Charitable activity: Anchor House 2a 253,418 749.663 1,003,081 2b 3.559.566 3,559,566 Other trading artivities: Rent receivable 21.358 21,358 TOTAL INCOME 3.834.342 749,663 4,584,￿5 EXPENDITURE ON Cost of ralsin8 funds Charitable activity= Anchor House 221.394 221,394 4,026,311 299,602 4,325,913 TOTAL EXPENDITURE 4.247,705 299,602 4,547,307 Net Income 1413.3631 450,061 36,698 Transfers between funds 453,892 1453.8921 NET MOVEMENT IN FUNDS 40,529 3,831 36,698 TOTAL FUNDS BROUGHT FORWARD 10.463,838 41,831 10,505,669 TOTAL FUNDS CARRIED FORWARD 10,W,367 38,(KlO 10,542,367 ChJrrty ie8i51ered ID and Waksl11477941 and *8L4raotee IOW7S3291. Re8K51ered wilh ReEu&toi olS0t￿ Housir4148411. 36 PLACE Solving homelessness one person at a time YOUR PLACE {LONDON) LIMITED TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Company Reglstratlon Number: 08D75329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841 CONTENTS Page Trustees, Annual Report 1-16 Independent Audltorfs Report 17-19 Statement of Flnancial Artlvltles 20 Balance Sheet 21 Statement of Cash Flows 22 Notes to the Financlal Statements YOUR PLACE ILONDONI UMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving hornele5sness one person at a time The Trustees present their report and financial statements for the year ended 31 Marth 2023. The reF)Ort, which constitutes a trustee5' report for the purposes of charity legislation and a directors. report for the purposes of company legislation, has been prepared in accordance with Part Vlll of the Charities Act 2011. The financial statements have been prepared in accordance with the accounting policies set out in note I and comply with the charitable company's Memorandum and Articles of A550Ciation. applicable laws, the Companies Act 2006 and the requirements of the Statement of Recommended Prdctice "Accounting and Reporting by Charities" SORP 2015 IFRS 1021 (Second bulletin effettive January 20191 and the requirements of the Statement of Recommended Practice ISORPI Accounting by Registered Social Housing Providers. Reference and Admlnlstratlve Infomiatlon Constitution The charitable company is governed by its Memorandum and Articles of Association. The member5 Of the Board of Trustees are the companrfs directors and trustees of the Charity- The Trustees who held office during the year under review and up to the date of this report are as follows: Trustees Mr Simon Hall Ms Emma Butterworth Rev Desmond Patrick Connors Ms Laura Curtis Mrs Emer Delaney Mrs Cate Kirkbride Mr Graeme McLean Councillor Joseph 08undermuren Mr Anil Sharm Chair Resigned 7 June 2023 Resigned 27 October 2022 Appointed 8 May 2022 Mr Charles Abel Smith Mr Matthew Williams Resigned 22 April 2022 We have supported the operation of the following Sub-committees: l. Finance, Audit, Governance. and Risk Sub- Committee 2. People & Culture Sub-committee 4. Premises Management Sub-committee 6. Values Sub-committee (now part of People and Culture) 3. Executive sU￿cOMMittee 5. Frontline Services Quality Assurance and Impact Sub-committee Princlpal Address Auditor: Your Place Anchor House 81 Barking Road Canning Town London E16 4HB Haysmacintyre LLP, 10 Queen Street Place. London, EC4R IAG Bates Wells. 10 Queen Street Platr, London, EC4R IBE Bardays, UK Bankin& I Churchill Place. London E14 5HP and Natwest, 1-11 The Broadway, London. E15 4DX Sollcltors: Bankers: Chailt¥ reg15tereO in En8land andWaks111fj73941 and a tOmP•hY ￿{Ya1anree1C￿O7$J2Yj. Re8lSterpd wth the Re8ulatorof SLKial HOuSiniid84LI. YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne$5 one person ot o ￿me About Us Your Place 15 a homelessness charity. and for nearly 60 years has provided a safe place and sUPPOrt for people to rebuild their lives. We are based in the London Borough of Newham whith has the highest levels of homelessness per capita in the country. During the last year we reflected wiih many of our key stakeholders on our brand, and our research showed that by changing our name we could reach more people who need us and raise more money to support them. So, in October 2022 Caritas Anchor House became Your Place- a new narne with the same mission, purpose and values. Our change from Caritas Anchor House to Your Place is part of our on8oin8 evolution as a growing charity. Above all. Your Place is about focusing on each person and their individual needs a5 they regain a Sense of ownership over their lives. Our new name shows each person who comes through our doors that we're really here for them. It's their place to feel Safe, to feel their feet oll the ground. to start again. We're a Community of people and services that supports that person's journey to a better place. We can't end homelessness for everyone overnight. but we can help to solve it one person at a time. Our mlsslon is to build hope, enable lasting change and end homelessness for people in East London. Our values guide our interactions and decison-making processes at all leve15 wiihin the organisation. They are- Compassion- we care about people, value their views and experiences and put them at the heart of all we do. Inclusion- we celebrate diversity. promote inclusivity and respert. and challenge inequity. Growth- we support people to breakthrough barriers and fulfil their hopes and potential. Collal>oratlon - we're stron8er and can have a bigger impact when we work in partnerships and build alliances. Our service combines the provision of a safe place to live for vulnerable adults experiencing homelessness. with in-house delivery focusing on physical and mental health, addiction and other complex health issues, education, employment, financial literacy and tenancy sustainment. Each person who walks through our doors receives a full a55e55ment of their needs and a bespoke programme of in-house and external Services created to best prepare that individual for independent living. We are proud to act as a beacon of hope for the growin8 number of residents we are now able to support. In the year ended 31st March 2023, we accommodated and separately supported a total of 404 people, and helped 115 people to move on positively from our services, leaving homelessness behind them. A number of our residents shared their experiences with us this year. Here are just a few of their reflections on the help we've been able to provide= "Iys been o long time since I hod o ploce thot I con (￿U011Y coll home."_ Morio "Thonks to Your Ploce. my hope for thefvture was fe5tored, und Ifound the determination to overcome the obstocles in mypoth. - 80ry5 'Your Ploce is more thon just a roof over my head.. it s a community that hos given me hope. support, ond o chance to stort o new chopterin my life.°_ Holima "For thefirst time. my dret7ms seem to be 17¢hievoble. Ifeelempowered. independent ondsuc¢essful."_ Danley Cbarityrew5teie¢ ￿ engla￿ and Wa*511147794}iTrdi tornwnyhTnrttd ￿￿1￿￿tte10￿?5a}9I. Reiistered wih ihE Re8vbior of So(1* Hiwyngl484Jl. YOUR PLACE (LONOON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2013 PLACE Solvin9 homele55ness one porson at o time Strurture, Governance & Management Your Place is a registered charlty and company limited by guarantee as well as a Re8lstered Provlder of Social Housing. We are regulated by a number of bodies. including the Charity Commission, Companies House, the Fundraising Regulator and the Regulator of Social Housin8. Our Trustees meet on a quarterly ba515 to review the perfomance of the organisation and plan for the future. The professional backgrounds of the Trustees include financial management, housing, busine55 planning, charity management. law, risk management. community involvement, marketin8 and investment banking. The day-to-day running of the Charity 15 delegated to the Chief Executive and Senior Management Team I'SMT'I. Our SMT 15 led by our Chief Executive, Amanda Dubarry. who joined us in March 2018 and has an extensive background in the homelessness sector. She was joined by both John Lowery, Director of Frontline Services, and Siva Selliah. Finance Director, in 2018, both of whom come to us with many years, experience in the housing and care sectors. In May 2023 Lucy Inksterjoined as our Director of People. taking over from Craig Hardaker, and bringin8 With her a strong background in the charity sector. Key management rernuneration is set bythe Trustees by reference to the degree of seniority and responsibility of the post. by benchmarking against similar role5 in charities of similar size and complexity and in the light of performance appraisal. During the year we added scrutiny to our financial and governance practice5 Vla the appointment of a consultant internal auditor, Bob Deed of Deed Consultin& to help us to continually improve our work in this area. Audits reports are shared with our SMT. our Finance. Audit. Risk & Governance Sub Committee. and our Board. Trustee recrultment, Indurtion and trainin8 The support of our Trustees is vitally important in ensuring we deliver the best possible service to those in need, and in raising awareness and support for the essential and life changing work that Your Place provides. In Spring 2022 we were delighted to appoint a new trustee, recruited initially through our innovative Next Generation Trustee programme in partnership with Housing Diversity Network IHDNI, which aims to support us in broadening trustee diversity. We also recruited a trainee Trustee through this process who has 5in¢e successfully completed that trainin8 and has joined one of our Board Sub Committees, and we hope will join our Board in Autumn 2023. We have subsequently recruited two further candidates through this programme. All new trustees are provided with a trustee induction pack and induction process and are encouraged and 5UPPOrted to attend specialist training relating to the roles and responsibilities of a charity trustee. including safeguarding. In addition, we have signed up two new recruits to the one-year HDN Board Diversity Programme and two to the one-year HDN Board Excellence Pro8ramme. Charity Tegi5tÈred In EDgiard and wa￿5{1147794j and a cornpany hrnited t￿£￿rIn¢¢t((￿Ys)29I. Re8lsiefed vAth Ihe AeeulairN ol Sooal HtyJsin8148411 YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (contlnuedl FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne5S one person at a time Objectives & Activittes Your Place's objects contained in its Memorandurn and Article5 Qf Association are "to further the general charitable works of the Roman Catholic Church by providing Services and facilities for the relief of poverty and suffering, the advancement of education. the promotion of social justice and other charitable acts which promote the development of all individuals and communities in need for the public benefit of people of all faiths and none." We provide supported accommodation to people experiencing homelessness in the London Borough of Newham and sUPPQrt them to move on and break the cycle of homelessnes5 for good. We do this by: Providin8 a safe place- to make sure that people experiencing homelessness have somewhere safe to stay a5 they be8lll to rebuild their lives Offering SUPFlOrt - to encourage and enable people to buikl a better future for themselves, through the provision of personalised support, educational and life skills opportunities. Building resilience to build networks of support. and empower people to navigate services Wlth confidence and be a proactive member of their comrnunity outside of and beyond life at Your Place Our frontline teams work directly with residents during their time at Your Place. Each resident 15 assigned a keyworker who will guide them through their stay and supports them to access a holistic service offering relating to health and wellbeing, education and employability, finantiaS management and securing and Sustaining new tenanoes. Residents can participate in training, workshops and activities including money management training, English as a Second Language, mindfulness sessions. counsellin& CV workshops and events. Our goal for each resident is for them to move on from our service5 Wlth the skills to navigate their next chapter5 With confidence and to sustain their accornmodatlon and independence long term. Publlc benefft The Tru5tee5 confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit "Charities and Public Benefrt" in the exercise of their powers and re5pon5ibilitie5 a5 detailed in the Memorandum and Articles of Association and under charity law. Value for Money The Charity is always conscious of the need to provide value for money to our users and stakeholders. As a registered provider of sotial housing with the Regulator of Social Housing {'RSH'I, we are committed to delivering value for money and continuing to meet the RSH'S Value for Money Standard. Our rental and housing related sUPPOrt levels are set in consultation with London Borou8h of Newham, to ensure that they, as the principal commissioners of our seNices. feel that they are receiving such value. We regularly review our performance and the way we work to continue developing the impact of service5 and using resource5 in the most effective and efficient way. Chartiy reglstèred ID Enland W*Es IL1477941 anda t￿partyI￿Ni￿ ￿￿ar*r&ieel(oJ75jZ91. Registered wAth Resulator ol SrKial HOLE51￿{4841I. YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solviry homelessness one person at o time Metrlc l- Relnvestment % This metric looks at the investment in propertie5 lexistin8 Stock as well as new supply) as a percentage of the value of total properties held. The percents8e reflects major repairs work on the existing properties, includlng replacing fire doors for 140 units in 81 Barking Road. The charitys metric for reinvestment for the year was 1.81%12022- 6.07%) Metrlc 2- New supply dellvered % During the year the Charity has delivered nil social housing units. The Charity doe5 not have a development programme to deliver new units every yeaT, delivered IS units in the p￿edIng financial year as a one-off development. Metrlc 3- Gearlng % The Charitvs property. Anchor House. is owned freehold. The charity has two long term loans, one with Natwest, secured against this property, and the other with Homele55 Link. The balance outstanding at 31 March 2023 of £2,086K12022'. £2.187KI represents 15.23% 12022:10.78%1 of Housing depreciated value owned by the Charity. Metrlc 4- Earnlngs Before Interest, Tax. Depredatlon, Amorti5ation, Major Repalrs Included IEBITDA MRI) Interest Cover % The charity paid interest of £63K12022: £68K} in the year in relation to the loan finance referred in metric 3. Interest, which is at a fixed rate of 2.73%, is therefore covered 54%12022:.20%1 by EBITDA MRI. The interest coverage ratio is low due to a loss of £309K incurred on Integrated Rough Sleepers Support Services IIRSSSI Metr1¢ 5- Headllne so¢lal houslng cost per unlt The cost per unit for the year wa5 £23.38412022: £19,588). The cost reflects the average cost of housing and 5UPPOrt services offered to our residents in the year. The support services vary from low to medium. includln8 Services to people sleepin8 rou8h and residents with multiple and complex needs. Metric 6- Operating Margln (overall) % The operating margin of the Charity as a whole for the year was -3.30% {2022.. .7.84%). The negative margin was due to a loss of £309K incurred on Integrated Rough Sleepers Support Services IIRSSSI due to lack of funding and unexpecied increase in staffing c05tS. Metric 7- Retum on capital employed (RO￿> % Thi5 metric compares the operating surplus to total assets less current liabilities. For the Charity as whole this was- 1.40% for the year12022.. _2.58%1. The negative ROCE was due to reasons stated in metric 6. Charity regi51eretr In EnElaDd and Wale5111477941 and a cornp•w Iimiied ￿lUaranret(1￿7S329l. Re8*tered ￿TIh The Re8ulaEorolSwa1 Hwsing1418411- YOUR PLACE ILONDON) UMITED TRUSTEES, ANNUAL REPORT Icontinued} FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 home￿$$nÈss one person al a time Fundraising Our supporters are incredibly important to us, and we believe in maintaining the highest possible standards when fundraising. We are registered with the Fundraising Regulator and are committed to the Fundraising Promise and working in a way that is compliant with the Ci)de of Fundraising Practice. This report covers the requirements charities must follow as set out in the Charities Act 2016. We keep our fundraising policy and practices under review and ensure that our fundraising meets the standards required in law and reflects best practice, so that our donor5 can give with confidence. Our focus has remained on securing grants, individual donations and gifts in kind. We are experiencing a more challenging fundraising environment as a result the pandemic. wtth regards to community fundraising and in- person events, as well the increased costs of living impacting people's ability to support us. Despite this, we raised £665,880 income from grants and donations in the year. We participated in the Big Give Christmas chaI￿nge 2022. whereby donations made durin8 the online campaign were match-funded. which raised a restricted funding of £25.106 to support residents to move on from our services and live independently. Direct mail appeals raised £14.878 of unrestricted funding. We were also grateful to receive many gifts in kind during the year. including food. toiletries and clothing for our residents, and furnishings for their rooms. It's important to us that everyone we interact wth fee15 free from undue influence when they consider donating. We ensure our fundraisers can recognise signs of potential vulnerability, so they can manage conversations and take action in the most appropriate way. We acknowledge that people'5 circumstances change, and we promise to respect and act on information shared if one of our supporters is in a vulnerable situation - we did not receive any such notifications in the financial year. We a￿ also siBned up to the Fundraising Preference Service to enable individuals to opt out from receiving fundraisin8 communicatbons from us- we received zero requests from this service during the vear. We promise that we will treat all complaints seriously. investigate them fully and report back transparently and appropriately. Our aim is always for our supporters to have a high-quality experience with us. and we are pleased that we did not receive any complaints about our fundraising. marketing or related communications done by ourselves or any third parties- in the year. We did not work wlth any professional fundraisers or commercial participators, as defined by the Fundraising Regulator. Should this be something we do in the future, V￿ will of course monitor the activities carried out to ensure they meet the same high standards we expect of our own fundraisers, and have any required agreements in place. Char￿V ie8lStered in En¢andand Wales111477941 and a knknteolry￿aroMe¢ W753291 Re8iMered wih the Rwlatty olSMal HOuSiw148411. PLACE YOUR PLACE {LONDONI UMifED TRUSTEES, ANNUAL REPORT (tontinued) FOR ThE YEAR ENDED 31 MARCH 2023 Solving homelessness one person at a time STRATEGIC REPORT Achlevements and Perfornian¢e The context in which we work has become ever more challen8in8 over the last few years. The housing cri515 continues to deepen with house prices and rents beyond the reach of many of those living locally, wages have not kept pace with inflation. and inflation has continued to soar leading to a cost-of-living cri515 acr055 the country which is hitting those on low incomes the hardest and impactin8 on charitable giving. We ended the year with 202 bed-spaces. making Your Place the largest provider of supported accommodation for people experiencing homelessness in Newham. Our main site. Anchor House in Canning Town, provides one of the largest hostel seryices in the country. We provided seven supported accommodation servlces In the year: Our Core service at Anchor House. providing 121 rooms and flats for those experiencing homelessness with low to medium level sUPPOrt needs. Our Complex Needs service at Anchor House. providing 19rooms for those who have been rough sleeping and have high level support needs. Our Hope Street service ot Anchor House, providing 15 Move on 'houses' for people who have been rough sleeping with low to medium support needs. Our Direct Acce55 A55e55ment Hub service. providing 14 rooms for people who have been rough sleeping and are coming straight from the streets. Our Plashet seThice, providing 7 rooms in East Ham for people who have been rough sleeping. Our Launchpad service in Beckton providing 12 rooms for men who have been rough sleeping and have medium to high support needs. This service runs alongside our accommodation at Bradymead in Beckton providing 4 flats for people who have been rough sleeping who have medium to hi8h support needs. Our Move on Support Service, operating from the Courtney Hotel in Wanstead and privately rented accommodation across the borough of Newham. supporting up to 40 people who have been rough sleeping. In addition to our supported accommodation services, our Community Partnerships team oversee a wide range of additional support services to help our residents to move on from homele55ness. This include5 our employment support to residents. resident en8a8ement work. and volunteerin& and we have been delighted with the outcomes this team has achieved: Our award-winnin8 work supportin8 residents in employment and training helped 79 residents to get or stay in employment. equating to 19.6% of our resident population. To support this work there were 552 resident attendances at employment and education sessions. Our Education, Training and Employment servite provides a wide range of artivities including English for Speakers of Other Languages courses IESOLI. IT. CV writin& and intensive ETE lemployment training and education) se55ions with our Job Coach. CharityregL4reiett in En8land wai¢$111477YI and a company limited tytyarantsel(W753291. RegisiEred with ReguLitoi of Social Hou5ing14B411. YOUR PLA￿ (LONDON) LIMITED TRU5TEES' ANNUAL REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessne55 ont person ot a time We provided 360 attendances at Community Engagement sessions such as our Resident Sounding Board, a significant increase of 45% on activity in the previous year in pèrt due to the lifting of oronavirus restrictions and also due to our new work around women's support. We had 81 attendance5 at women's specific activities, such as Women's only Sounding Board, self- love letters and pamper session, and confidence building workshop. Gardening at Your Place, and various theatre shows. 43 volunteers undertook almost i.iXXI volunteering hours {986.5 hours). Our Trustees regularly review the progre55 of the organisation. and the main objectives which were achieved during thi5 year to meet our long-term strategy were: Despite a very challenging economic backdrop V￿ were able to maintain our seNice levels. We achieved a 92% room utilisation rate. housing and sUPPOrting 404 people across the year lan 8% increase from the previous yearl. We are pleased to report that we were able to support 76 restdents during the year who had No Recourse to Public Fund5 INRPFI, a group who are particularly vulnerable and make up a significant proportion of people experiencing rough sleeping in London. We were also able to accommodate 28 residents who came into our services during Severe Weather EmerEency Prot¢xo15 ISWEPI, a lifesaving crisis response initiative declared by local government when the temperature in the region falls below zero degrees Celsius for three or more consecutive nights. Cold temperatures can be fatal for anyone sleeping rou8h, and people are especially at risk in the winter months. SWEP 15 a local humanitarian response, in which the focus 15 getting people sleeping rou8h off the streets, eliminating fatalitie5 and reducing strain on emer8ency services. 28% {1141 of our residents rough sleeping before coming to U5. We are proud to have a had a significant impact in reducing local rough sleeping this year. 77% of the residents we supported in the year had one or more complex needs lissues with Substance misuse, mental health, and physical health). We are delighted that we have enabled a great many people with higher levels of needs to access our services to help to transform their life. We continued to st￿ngthen our work with re￿dents. supporting 115 of our residents to move on positively from our service during the year in¢luding'. c 65 moved into medium-long tern) accommodation (such as supportedlsheltered housing, Clearing House lets via St Mungo's) or private rented property- 5 going to a detox clinic or long stay hospital. c 34 internal service transfer such as transfer from dirett access assessment hub and intensive support services to low sUPPOrt services. c 10 staying with family and friends. 79 residents had a job in the year, of whith 39 residents gained new employment. 91% of our residents sustained their tenancy up to 3 months after leaving the accommodation. We are most proud of the fact that 94% of our residents sustained their tenancy for six months after leaving our services, demonstrating an astoni5hin8 over nine out of ten of our residents breaking their cycle of homelessness with our support. Charrtv reW5teredin Enèand and wales (11477941 èfKt ètompaty limitÈd tywatantee l(W753291. 8e&stèred v•thihe ReEulatorof HN9ngl48411. YOUR PLACE {LONOON) LIMITED TRUSTEES, ANNUAL REPORT {contlnued) FOR THE YEAR ENDED 31 MARCH 2023 VPLACE Solving hom•le55ne55 one person at o time We are also delighted that at the point of leaving our services, 91% of residents moving on positively rated our support quality as Wery Good" or"Good" and 77% had improved in at least three areas of the Outcome Star, the tool we use with residents to measure progression and to help us to work in partnership with residents to transform their lives. Despite the challenging environment from a fundraisin8 perspectNe, we raised £665.880 income from grants and donations in the year. We are delighted that our impatt was recognised by winning= l. the Charity Times Property Innovation Award 2022 for our innovative Hope Street seNice 2. the Newham Coun¢il Health Equity 50 Steps Award, Community Vaccine Clinic Host award 3. the UK Housing Award 2022, for Resident Employment & Training Our Chief Executive also won the Chartered Institute of Housing's Housing Heroe5 Inspirational Leader of the Year award and was a finalist in the Chartered Institute of Housing Women in Housing Award5. We were also a Finalist in the Inside Housing Development Awards 2022 for our Hope Street service. During the year, in addition to Amanda Dubarrfs roles with Homeless Link and in the sector elsewhere. we have also been active in supporting sector campaigns calling for the government to.. protect those with No Recourse to Public Funds INRPFI ensure that sleeping rough is no longer a legal ground to remove someone from the UK. repeal the Vagrancy Act protect homelessness services who are facing cuts and cost of living pressures Vla the #KeepOurOoorsOpen campaign. Chaiityce8lstereO in Eniland and Wales11147FJ41 a¢oMwylthithd ￿l￿r4*Ye¢ (w￿1291. Reoi51ErÈd with the Regulètoi of Swal Hou5ing148411. YOUR PLACE (LONDON) UMITED TRUSTEES. ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 YPLACE Solvng homèlessness one ptrrson ¢rt o timè Risk Management The Trustees have examined the financial and operational risks which the Charity faces and confirm that SY5terns, Controls and review procedure5 have been established to mitigate exposure to these risks. The Charity has a live Risk Register, which has been updated regularly durin8 the year and reformatted to in¢lude a risk map, and each of the Charit￿5 Sublommittees reviews relevant risks on a quarterly basis. The full Risk Register is updated following Sub-committee meetings and reviewed quarterly at full Board meetings. The principal risks. together with the appropriate mitigation strategies. have been identified as- (al The impact of tht COst￿fil¥1nE trisis on our employees. We recognise the si8nificant impact that the co5t￿f-LIvlng crisis is having on our team. in particular those on the lowest Salaries in our organisation. We brought forward salary increases for our lowest paid employees in late 2022 and provided one off payments to many of our team. In addition. we have arranged for extra support for our employees with this issue. such as the provision of information seThices, financial wellbeing workshops. and emotional support via Our Employee Assistance Programme IEAPI. {bl Changes in funding arrangements of contractual work I remodellinz of contracts which make thern uThvlable l undeliverable / risk of contractual breaches. As we have increased the amount of work, we are delivering under contractual arrangements whilst the etonomit climate remain5 challengin& this has significantly increased the risk of mid-term contract cuts / remodelling and non-renewal of short-term contracts l economies which are prejudicial to seThice delivery. To support our work in this area we added a key management post to our team during the year, a Head of Support Services post. We have also conducted internal audits. and commissioned at our own cost additional support vla external consultants. during the year to help in this area. Icl Failure to deliver safe service$ 15afe8uarding risks due to complex nature of dient group. With an increasingly higher proportion of our residents having more complex support needs, we are more vulnerable to safeguarding concems. The èppointment of an additional key management post, our Head of Support Services who 15 also our designated Safeguarding Lead, has supported our safeguarding practices in the year. We continue to have a Deputy Safeguardin8 Lead in our team. and we also continue to have an allocated Lead Safeguarding Trustee and Deputy Lead Safeguarding Trustee. We have held monthly safeguarding reviews with our frontline management team. considering lessons learnt. and the learning and information from these is shared with our Safeguarding Trustees of￿ considered with our commissioners. Safeguarding is reviewed at every Board meetin8. Idl InabS11ty to attrart and retsln employees of the right calib￿. The quality of our team is paramount in our work, and we have reviewed our recruitment practices and arrangernents during thi5 year to maximise their effectiveness in what has proven to be a challenging recruitment market. We have alg) introduced performance related pay. an exit Inte￿IeW system to learn from employees leaving our charity, and we have increased the learning and development opportunities and other benefits available for our employees. Chariiy rpBi5reTed In En￿afid and W*e511147794laNla(ompwhn*ted ￿gUarantee1L￿75329l. Re8iSteied Wlih Ihe ReBu￿10r01 Soual Mou￿￿148411. io YOUR PLACE (LONDON) UMITED TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessness ¢)ne person tsta timé Flnanclal revlew for the year During the year the Charity received Income of £5.304K12022: £4,584KI and incurred expenditure of £5,534K 12022.. £4,547KI, resultin8 in a deficit of £230K 12022: surplus of £37KI. This deficit of £230K relates to unrestricted funds. The major reason for this deficit was the deficit of £299K incurred on Integrated Rough 51eepers Support Services IIRSSSI due to lack of funding and unexpected increase in staffing costs in this financial year. The Charity had to use funds from its Eeneral reserves to meet this deficit. The Inc￿aSe In income of £720K115%1 from previous yearfs income was largely due to increase in Housing Benefit for the units ir¢ Anchor house in April 2022 and addition rental income following the opening of the Hope Street project in February 2022 and transfer of Plashet projecvs housin8 management services to Your Place in July 2022. There was also increase in support charge of £104K as IRSSS were in operation for 12 months in this financial year compared to 7 months in the previous year. The in¢￿aSe in expenditure from the previous year was E987K121%1. Of the expenditure £74K relates to planned maintenance and restructuring of the customer service department and was funded from designated reserves. This increase in expenditure was largely attributable to expenditure incurred on IRSSS. Financial revlew for future perlods Our budget for 2023-24 shows a surplus of £19K after adjusting for the termination of the Plashet, MOSS and Direct Acce55 Assessment Hub services, contracts which will come to an end on 31 August 2023. In light of the termination of these contracts, we have a financial recovery plan to reduce our overhead costs and some direu costs. which we predict would create a savin8 of £50K for the year 2023-24 and £IOOK for future years. In line with our strategic plan, we continue to seek to expand our services. Currently, in addition to London Borough of Newham, we ore working with other local authorities to deliver intensive support services to more residents. This will generate more revenue for the current and future years. Trustees are pleased to report that at the date of approval of this report the Charity has performed well in exceptionally challengin8 circumstances. Reserves At 31 March 2023, unrestricted reserves stood at £10,275K12022: £10,504KI. of which £9,OOIK is represented by the net book valije of fixed assets less outstandin8 loan finance. Of the balance of £1,274K, £909K has been designated for a cyclical programme of major repairs, £43K for residents, furniture and equipment and £46K to covergrant cessations, and the remaining £276K is held in general reSe￿e5. The Trustees have the authority to make these designated funds available for other purposes if required. The Trustees have reviewed the reserves of the Charity taking into consideration future artivities, uncertainties, and risks and have concluded that the appropriate level of reserves required is in the range of £1.2M to £l.SM. We will continue our effort5 to build these reserves over the next few years from £276K 12022.. £485KI to the required level through prudent financial management. As part of this exercise, Trustees have also reviewed the management accounts for the first quarter of the year 2023-24 and the forecast for the year and are confident that the Charity will continue to be able to build towards the required level of reserves. ChaTii¥re4tsiwed itl EheiarK*an¢ wèie$ 111477Ylahd è cvrnoany tygtsarameelLW753291. Registered with the Re&J￿r0[ of soc￿1 Housing148411. li YOUR PLACE (LONDON) LIMITED TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Sdving homeless￿$$ one person ato time The Trustees have also acknowledged that the Charity is largely reliant on rese￿e5 for future 8rowth and expansion and have agreed that the Charity should be able to use part of the reserve5 for thi5 purpose if needed provided that this does not impact the existing operations and that realistic Strategies are in place to replenish them. The Board of Trustees has desi8nated a Post Grant Continuity reserve of £46K12022.. £50KI to provide interim cover where a funding source has ceased le.g.. for a staff p051tionl or increase in costs due to inflation. until replacement fundin8 can be found. The Board of Trustees has designated a Major Repairs fund of E909K12022: E776KI to ensure that the Charity has sufficient funds to maintain its building asset where our residents live. in good condition, including planned maintenance and replacement of various components at the end of their useful economic life. The Board of Trustee5 has designated a Resident5 Furniture & Equipment fund of £43K12022: nil) to replace residents, furniture and equipment both in their rooms and in communal area5. The Fixed Assets Fund of £9,CQIK12022= £8,969K} is intended to represent the net book value of unrestricted tangible fixed a$5ets, less the outstanding loan finance raised to facilitate the acquisition and development of capital improvements. Plans for Future Years This was the second year of our five-year Strategic Plan for the period April 2021 to March 2026. This plan sets out an ambitiOU5 roadmap around five key goals. By March 2026, we will: l. provide additional specialist supported housing. offer an expanded range of complementary seNices. 3. be a sustainable organisation. 4. be a great place to work. 5. be a trusted voice in the community and sector. Havin8 made Significant pro8re55 in delivering Goal I V￿th the development of our new Hope Street service and our four new services for people sleeping rou8h in partnership with CGL we began to look ahead to options which will enable us to provide fvrther move on housing for our resKlents. to ensure that good quality ccommodation is available when residents are ready to move on from our services. This has proven to be challenging in the current financial climate with interest rates at a record high. and we continue to explore options which may be viable. We restructured our 17ousin8 mana8ement and customer services fundion durinB the year to support our new multi-site provision. We made si8nificant progre55 in Goal 2, with the Community Partnerships team. which was formed the previous year, delivering some impressive outcomes in the areas of employabilityi trainin& education, volunteering and community engagernent work. We were delighted to achieve our strategic ambition to provide a more gender informed support offers for the many women using our services. when we were able to raise funding to appoint three posts focu55ed on this area of work. We were pleased to be able to support Chèrffy rewsiered in Enwart63n#wa￿$I1I477￿l a ¢omp*y Amiied lrywJar4ni* Iw753291. Re￿Stered %%Tth lae Regulator of Soa¥ Houyns148411. 12 PLACE Solvin9 homelessness one pprson ot o time YOUR PLACE {LONDONI UMITED TRUSTEES, ANNUAL REPORT Iwntinued) FOR THE YEAR ÉNDED 31 MARCH 2023 a significant number of particulady vulnerable people with No Recourse to Public Funds during the year. We broadened our ability to support people experiencing rough sleepin& including offering provision for those coming off the streets as a direct result of a period of severe weather. We also refurbished space to create a Faith & Wellbeing room, to better meet the spiritual needs of our residents and reflect the importance we place on our Catholic heritsge alongside the multi faith community we support. In Goal 3. we have continued to make excellent Pro8￿$$ in upgrading our facilities for residents and maintaining our asset at Anchor House. investing £217k in bedroom refurbishments and fire door replacements, and tronsforming our reception and lobby facilities. as well as refurbishing a meeting room to become our Faith & Wellbeing room. The Anchor House facilities were also brightened up considerably by the Your Place signage, wayfairer signage and positive affirmations developed with our resldents which have gone up throughout our communal areas. Unfortunately, these investments in our provision from our reserve5 and the challenges following the pandemic and the C05t-of-Living crisis, have led to a deficit position at the end of the year. We are grateful to our many generous 5UPPOrters who donated £665,880 income through grants and donations in the year. As we go forward, we will look to replace the monies we have invested from our reserves to ensure that we can continue to look after our residents and our asset at Anchor House. and to remain financially sustainable in the long term. Our Green Project. which works to reduce our environmental impact, has been extremely effective in quickly improving our environmental sustainability, with 518nificant successes such as the use of solar panels, a switch to eco paints, a replacement petrol van with an electric van for our food & donations colledions. the implementation of recycling, working with residents to create greener spaces, and the removal of single use plastics & water bottle5 from our services. For Goal 4, we want Your Place to be a place where people want to come, do their best work and develop. To deliver the best Service to our residents, we need a diverse group of employees and volunteer5 who can bring their dynamism, professionalism, energy and tenacity to help us achieve great outcomes together. We have worked hard during the year to refresh our approach to people management, which has included a significant increase in learning and development opportunities for our employees, additional development for our managers with two Leadership Development Programmes. and the launch of our first Belonging Strategy. We are proud of the work we have continued to invest in on equity. dNersity and inclusion and our active 8elon8in8 Committee which has been overseeing our approach with us around this. In a post Covid world we have also had a significant focus on employee wellbein& investing in various support initiatives throughput the year for our team. including access to clinical supervision across our frontline team, access to free support and counsellin8 for all employees through our partner Cic Wellbein8, and new Mental Health leave days which are available for all of our team. Ch411tyre8kTÈrÈtt ID England and WAI￿{lI47791) and a Comp￿￿￿￿e￿ tywarapiee IC607S3291. Re81Stered wSth the Rewlitorolsocial Housing148411. 13 PLACE YOUR PLACE ILONDONI UMITED TRUSTEES. ANNUAL REPORT {contlnued) FOR THE YEAR ENDED 31 MARCH 2023 Solvin9 hgmelessness one person ot a time For Goal 5, we have increased our employee resource around impact management, funding a second post in this area which helps us to better measure, understand and report on the outcomes and impact of our work with people experiencing homelessness. We have also fotussed on giving our re5ident5 a voice, with a dedicated Community Engagement Officer role and a significant increase in the number of community engagement opportunities we have beeft able to run and offer our residents. We are proud that a great deal of our public communications have given our residents a platform alongside us to share their stories and views. supported by our rebrand which has focussed on putting our residents at the heart of our work, making gur services their place to feel Safe. to feel their feet on the ground. and to start again. We have continued to support campaign work in our sector which will give our residents a better deal, and we have also campaigned thi5 year to raise awareness of the financial vulnerability of organisations in our sector as part of the #KeepOurDoorsOpen campaign led by Homeless Link. Our Chief Executive ha5 continued to Co-chair the Newham Homelessness Forum and Chair the National Advisory Council on behalf of Homeless Link. We continue to work with our partner5 to increase our impact for our residents and to grow our offer to those experiencing homelessness and disadvantage in our community. We embrace change and welcome others to loin us in solving some of socieVs most challenging social issues. We look forward to developing new collaborations to support our residents and the community to achieve their potential. It is important that the voices of those engaged in this work are heard. The lack of stability in funding from government sources continues to mean that our ability to deliver the right services to people experiencing homelessness can be significantly impacted. The human cost on our staff who lack certainty in their employment should not be ignored. Nor should the waste of valuable resources in endless recruitment to meet the vagaries of the fundin8 priorities be underestimated. We want to work with all engaged in solving this shameful social issue to do it better than is bein8 done now. ChaFrty re8K4teredin En#￿￿ andwa￿511147791) and a(ompany ￿￿ted ￿￿aran￿e I1￿?53?9). Regsrwed ￿th the Reev￿￿¥ ¢lSoti•l H¢￿$17£(1841). 14 YOUR PLACE {LONDONI UMITED TRUSTEES, ANNUAL REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessness one person ot o time Statement of Trustees, Responslbllltle5 The Trustees (who are also directors of Your Place for the purposes of company13wl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wlth applicable law and Unr(ed Kingdom Acwuntin8 Standards Iunlted Kingdom Generally Accepted Accounting Practicel. Company law requires the Trustees to prepare financial statements for each financial year which Bive a true and fair view of the state of affairs of the charitable company and of the in¢ome and expenditu￿ for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. obseNe the methods and printiplès in the Charities arhd Social Housing SORP. make judgments and atcounting èstimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the finartcial statements: and prepare the frnancial statements on the going concern basis unless it is inappropriate to p￿sume that the tharitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detecbon of fraud and other irre8ularitie5. So far a5 each of the Trustees is awa￿ atthe time the report is approved.. there is no relevant audtt information of whi¢h the Charitable companV5 auditors are unaware,. and the Trustees have taken all steps that they ought to have taken to make themselve5 aware of any relevant audit information and to establish that the auditors a￿ aware of that inftymation. Statsment of Board of Trustees on thtemal Ilnandal controls The Board of Trustees aCkno￿edge ttsoverall responsibilityfor establishing and malntainingthe wholesystem of internal controls and reviewing its effectiveness. The system of internal control is designed to manage, rather than eliminate, the risk of failureto achieve business objectives. and to provide reasonable assurance a8ain5t material misstatements or loss. The process for identifyin& evaluating and managing the significant risks by the Charity is ongoing and has been in place throughout the year up to the date of approval of the report and financial statements. The key elements of the control and sources of a55urance include- Cleady defined management responsibilities and procedures for the identification. evaluatlon. and control of significant rlsk Risk register and dsk management reports. Perforrnance reports External audit reports Detalled finanaal budgets. management accounts and forecasts. Policies and procedu￿5 for all area5- Safeguardin& Health & Safety. Human Resource. Finan￿ & IT. These polices and procedure are reviewed by the Sub-committees and the Board on a regular basis. Established a4rthorisation and appraisal procedures for new initiatives and commitment5. Regular reportin8 to the appropriate Sub-committee5 and Board on key business objettives, targets. issues and outcomes. Charity re815rerpd In Engi4tQ and waiÈ$111477941 and a tOMp¥ry￿rnited ￿l￿rantee l(WJ7S3291. Re8i5reredwilh the Regulèt¢F ofS¢cLèl HouSin81484LI. Is PLACE Solving hom•l•s$n•ss one person ot o time YOUR PLACE (LONDON) LIMITED TRUSTEES, ANNUAL REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2023 The key areas cover control, information reporting 5YStem5. monitoring and risk management. Control The Board of Trustees retains responsibility for defined range of area5 covering strategic, operational, and financial elernents. The Board of Trustees has put in place an organisational structure which clearly defines lines of responsibility and delegation of authority. Informatlon report5ng system Financial reporting Systems include regular reviews of overall financial business plans, preparation of detailed annul budgets and the production of detailed rnonthty management accounts. These are prepared by the Senior Management Team and are considered and approved by the Sub-committee and the Board. The Senior Management Team and the Board of Trustees also review performance regularly to assess progress towards the achievement of key business objective. targets and outcomes. Monltorfng A process of regular management monitoring on control issues provides assurance to Senior Management Team and Board of Trustees. This includes a rigorous process of ensuring that corrective action5 are taken in relation to any significant control issues and the recommendations of our consultant internal auditor. R15k Management The charity has a comprehensive risk management strategy which identifie5 f15ks facing the Charity, risk management responsibilities. and action required to mitigate these risks, and monitoring arrangements. The Trustees. Annual Report which incorporates the strategic report was approved and Signed on behalf of the Board on 19 September 2023 Simon Hall- Chair & Trustee Charity iewstereo in En￿1￿d and Wa￿(11477941 and acrffipwy kmlted typJaffaDtee l(•J753291. Re815tered*ith the ftewL3torof Sooal H￿￿n￿ll841l. 16 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE ILONDONI UMITED PLACE Solving homele55ness one person at a lime Opinion We have audited the financial statements of Your Place (London) Limrted for the year ended 31 March 2023 which comprise Statement of Financial ActNlties, Balance sheet. Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting polities. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Finonciol Reportinqstondardapplicable in the UKand Republic of Irelond Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the charitable companws affairs as at 31 March 2023 and of the charitable companvs net movement in fund5. including the income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2CK)6. the Housing and Regeneration Art 21x18 and the Accounting Direction for Private Re8iStered Providers of Social Housingfrom January 2019. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements sertion of our report. We are independent of the Charity 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 eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the trusteeg use of the 8oin8 concern ba515 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 relatin8 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 Infom)atlon The Trustees are responsible for the other information. The other information comprises the information included in the Trustees. Annual Report. 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 doin8 so. consider whether the other information is materially inconsistent with the financial statement5, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misstatements. we are required to determine Chariiv reg￿tEred In En8iand and wa￿%11147794l and a companyliniited tyyrantee ICQ075V91. RegL5tere¢ with the Rewlai¢r tsf Sotial H￿s1￿14841). 17 PLACE Solving homelessness one person at o time INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE {LONDONI LIMITED Icontifbued) whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on ihe work we have performed, we conclude that there is a material misstatement of this other infom)ation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Art 21x16 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the Trustee5' Annual Report Iwhich includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statements; and the strategic report and the directors. report included within the Tru5tees' Annual Report have been prepared in accordance with applicable legal requirements. Matters on whlth 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 misststements in the Trustees, Annual Report Iwhich incorporates the strategic report and the dirertor5' report). We have nothing to report in respect of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept by the charitable company: or the charitable company financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responslbilitles of trustees forthe financial statements As explained more fully in the trustee< responsibilities statement set out on page 12, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for bein8 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 mi55tatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable compan(s ability to continue as a going concern, disclosin& as applicable, matter5 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. Audltorfs responslbllltles for the audit of the flnancial ststemerts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance 15 a high level of assurance but is not a guarantee that an audit tondvcted in actordance with ISAS IUKI 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 basi5 of these financial statements. Chèrity le8￿tered ￿ Erteiand Wak511147tyI1 and a wnw•ylinbiÈd iryBuèraMee l(W753291. Re4isiered with rhe fleW￿lorof Soc￿1 Housbn8148411. 18 PLACE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YOUR PLACE (LONDON) LIMITED IcontiTrued) Solving homelessness one person ata time Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line w¢th our responsibilities. Qutlined above, to detert material misstatements in resped of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5, including fraud is detsiled below: Based on our understanding of the charitable company and the environment in which it operate5, we identified that the principal risks of non-compliance with laws and regulations related to social housing, safe8uardin& fundraisin& employment and health and safety regulations and charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulationsthat have a direct impact on the preparation of the financial statements such as include the Statement of Recommended Practice for registered Social Housing Providers 2008, Companies Art 2CL16 and the Charities Act 2011. and considered other factors such a5 income tax. payroll tax and sales tsx. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements linduding the risk of override of controls). Audit procedures perfomied by the en8a8ement team included: Inspecting correspondence with regulators and tax authorities: Discussions with management including tonsiderdtion of known or susperted instances of non-compliance with laws and regulation and fraud,. Evaluating manaBement's controls designed to prevent and detert irregularities; Identifying and testing journals- and Challenging assumptions and judgements made by management in their critical accounting estimates Because of the inherent limitstions of an audit. there is a risk that we will not detect all irregularities, including those leading to a material mi55tatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be le55 likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities forthe audit of the financial statements is located on the Financial Reporting Council's website at= www.frc.or auditorsres onsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable company's rnembers. 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 Auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we have formed. 17 ge• Qo23 Lee Stoke5 (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP. Statutory Auditors London EC4R IAG Chatl aftdacornp•vlimii*d ￿l￿ara￿tte{w75329I. ReAiStered svith thE Reguiitorof knial H¢USltiII48411. 23 PLACE YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2023 Solving homele55ness one person oto tim• is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisiofls. Income Intome fmm charitable artivities represent receipts from residential at¢ommodation, sUPPOrt service and laundry facilities. Donations and legacies are accounted for when received by the Charity. Other income is accounted for on an accruals basis as far as it is prudent to do 50. Revenue grants are credited to the statement of financial activities as received, unless they are to be spent in a later year. when they are deferred. Expendlture Expenditure is recognised on an accruals basis. Governance costs comprise the costs of running the Charity, Including Strategic planning for its future development. internal and extemal audit. legal and professional advice and all costs of complying wFth constitutional and statutory requirements. such as the costs of Trustees, meetings ènd of preparing statutory financial statements and satisfying public accountsbility. Tangible fixed assets The property is freehoSd, being Situated at Anchor House, 81 Barking Road, London E16 4HB, and is included at cost, less depreciation. The land is included at cost and is not depreciated. Assets under the course of construction are not depreciated until the work has been completed and the a55et brought into Use. Depreciation is calculated to write down the c05t less estimated residual value of all tangible fixed assets other than freehold land over their estimated economic lives. Using component costing principles freel)old property is dFvided into components vthich are depreciated over the following years-. Building structure 60 years Windows. bathrooms and flooring 15 years Heating and electricity systems 15 year5 to 30 year5. a5 appropriate Kitchen 20 years Lift 30 years In the previous year the freehold property was depreciated at 2.IXI% on a straight-line basis. Component accounting was introduced from I" of April 2019. AII Pcs and laptops regardless of their values and other tangible fixed assets exceedin8 Él.OCiI are stated at cost net of depreciation. Depreciation is calculated at the following annual rates: Fixtures, fittings and equipment Motor vehicles Charity reslstered IP Ewland and Wh￿5 IlJ47794}affldacornwySwAtod by8uèiaDIÈèI0807532gk Re815teied ￿ththe Rew5atorof SoDal H￿S￿￿148411. 10-33% straight line, as appropriate - 25% straight line 24 PLACE YOUR PLACE (LONDON) LIMITED NOTES TO TrIE FINANCIAL STATEMENTS AS AT 31 MARCH 2023 Solving hoM•loSs￿ss one pèrson at a time ACCOUP4TING pouaES (contlnued) Ihl Investments Investments are stated at their middle market values ruling at the balan￿ sheet date. The realised and unreali5ed gains and losses on investments are calculated based on the opening market values and are accounted for within the Statement of Financial Artivities. Income arisin8 from these investments 15 accounted for when it 15 receivable. Stocks Stocks are shown at lower of cost and net realisable value after making due allowance for obsolete and slow movin8 Items. Debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highty liquid investments. Credltors and provlsions Creditors and provision5 are recognised where the Charity has a present obligation resulting from past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. (m} Designated funds The Trustees may set aside amounts of unrestricted funds, at their discretion, for specific future purposes. such funds are shown within unrestrirted fvnds as designated funds. Where the trustees decide that designated funds are no longer required for the purposes specified, these are released from designated funds. {n) Re5trlrted funds The restricted funds are monies raised for. and their use restricted to, a specific purpose or donations subject to other donor-imposed conditions. Transfers are made to unrestricted funds where amounts raised for specific capital projects are spent. lol Taxatlon A5 a registered Charity. Your Place benefits from rates relief and is generally exempt from taxation on its income applied for charitable purposes, but not from Value Added Tax. Irrecoverable Value Added Tax is included in the cost of those ttems to which it relates. Charity rÉ8htèred in and wa￿5(1141194l and a cornpany &miied ty•Mramee l(W753291. RegisierEd with tk* ReÈularoi ofsooal H¢USltI¢148411. 25 YOVR PLACE {LONDONI UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvin9 homelessn8ss one person at a time 2a Income from donations and 8Trnts: Income from donatlons: Unrestrict¢d Re5trirted 2023 2023 Total Tot#1 2023 2022 Donations Donation in kind 114.617 27.603 3,756 31.359 142,220 3.756 145.976 160,022 55,050 215,072 114,617 Income from grants: Unrestrfcted Restrlcted 2023 Total 2023 Total 2022 2023 The Monday Charitable Trust The Borrows Charitable Trust PF Charitable Trust uilding Societies Trust Limited The Albert Hunt Trust Swire Charitable Trust J A Rose Trust National Lottery Community Fund CAF The Drapers, Charitable Fund John Armitage Charitable Tnjst French Hu8uenot Church of London Charitable Trust Trust for London City Bridge Trust L8N The Fishmongers, Compan￿$ Charitable Trust All Churches Trust Ltd Morrisons Foundation White Oak Charitable Trust The Sisters of The Holy Cross Charitable Trust The Charilable Committee of The Vintner's Company Amold Clark Community Fund Ecclesiastical Insurance Neighbourly- B&Q Coco Joelle Foundation 6,450 5,000 2,000 40,000 5.000 7,500 5.000 5.000 25,C 25,000 7.000 5,000 33,275 33,275 1.9C 25.000 20,000 20.OCL) 20,000 5,000 12,500 50,000 7,978 15,000 6,000 6,500 1,000 20.000 30.175 50,IXKI 30,175 50,000 IDJO 20.000 20.OCQ 5,000 5,0(Kl io,ocx) 75,000 19,999 75,(M)O 19,999 25,CM)O 19,999 390,CKJO 11,077 Portal Trust GLA DWP Flexible Support Fund Grant YOUR PLACE {LONDONI UMITED 37,977 37,977 Chaiiiy iÈwsièrÈd In and Wa￿511147794) aftd•comp•iy &￿1¢￿￿1￿•ralll￿ IiW7S3191. Reth5tered ￿¥th ihe AeevLBiorylSoo• HOU5ing148411. 26 NOTES TO THE FINANCIAL STATEMENTS Icontinued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homeless￿55 one person at a time Unrestrlrted Restrfcted 2023 2023 Total 2023 Total 2022 Charles S French CT Clifford Chance Foundation Yorkshire Building Society Assura I Cheshire Community Foundation Aspers Casino Good Causes Fund Marsh Charitable Trust The Poor Fund of the Worshipful Company of Fan Makers 2.5(KJ 5,050 2,5 5,050 3,￿0 2,892 2,1￿0 4,975 4,388 1.462 1.462 800 8¢XI 3.750 3.750 3,750 The Lyon Family Charitable Trust Charlotte Marshall CT 60.C 1,8 1,800 Barber Charvet Trust 15.C(K) 15,000 5,000 3,CQO Schroder Foundation NBC Universal The Augustine courtauld Trust St Martin in the Field Vicar's Relief Fund 29th May 1961 CT Royal Docks Trust Nationwide Community Foundation Sainsburys Helping Everyone Eat Better Community Grant Fund Garfield Weston Foundation Edward Gostling Foundation Clothworkers Foundation 750 750 199 199 3,0(X) 10.0 16,667 3,000 10,000 16,667 1.500 1.500 25,000 25,000 5,000 50.000 io.wo 25,Ll 25,CKIO Clothworker5 Foundation LB Newham Community Assembly 50,C(() io,( 91.3 428,604 519,904 788,009 Total donatlon5• grants and legades 205.917 459.963 665.880 1,C(13,081 YOUR PLACE (LONDON) LIMITED Charity re&￿tered in England and Wale511147794land a cornwy ￿TrIlled ￿l￿ar￿Are*{￿lS329l. Regisieied wilh Rewlatoi of Social Housin$148411. 27 NOTES TO THE FINANCIAL sfATEMENTS {continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE solving hom*l•s$n•ss one person ot o time 2b Income from d)arltsble a¢tl¥ftles Unrestricted Restricted 2023 2023 Total 20Z3 Total 202Z Accommodation Housin8 Related Support Rough Sleepers Initiative Sundry income Laundry income 3.355.439 l.ClJl.972 224,140 25.425 5,136 4,612,112 3,355.439 2,378,701 l.CQl.972 811.142 224.140 311.ODO 25.425 54.358 5.136 4.365 4.612.112 3.559.566 All income in 2023 and 2022 was unrestritted. 3 Soc5al hou55ng lettln85 Rent receivablè excluding Service charges Serwce charge receivable Grants and other income Turnover from soclal housSng lettlngs 1,485,117 1,052,813 1,870.322 1,325,888 1,851,164 1,775,243 s￿,603 4,153,944 Operatlng expendlture on Soda houslry lettln 5.378.379 4,479,525 Operatln8 surplus offt sotlal h(Mtsin8 lettin85 Financing costs Surplus on social houslng lettln8S (171.7761 162.6721 {234.4481 {325.5811 167.7821 {393.363) Void10sse5 360.839 404.472 The void Ios5 in year 2022 was parWy due to planned and unplanned maintenance works on residents. rooms at Anchor House. 4 Cost of ralsin8 funds 2023 2022 Staff costs Other direct costs Support costs 139,180 36.376 69,327 244,883 134.495 32,461 54,438 221.394 5 Charitable activities Other Dlrert Tot•1 2023 Tot•1 2022 Costs Support Anchor House Inte8rated Rough 51eepln8 Support Services IIRSSSI 1.581.435 1.548.801 645.405 3,775,641 3,523,881 1,019.109 2,0￿,544 245.820 1,794,621 248.423 893.828 1.513.352 802.032 5,288,993 4.325,913 Charrtyrt*srerel in ErydL)nd and w¥es Il1477941 and a c(%nwYhM￿1vRvaOn1ee(￿l5329K Reg15tered thith the Regulator cl SKial Houyni14841k 28 YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Sdvin9 homelessness one person at o time Support costs allocation to actlvltles Totsl Total Anchor House Furbdraising 2023 2022 Staff cost5 Staff trainin8 and recruitment Office expenses Legal and professional fees Other cosls 46,130 9.204 11.764 1.931 299 69.328 429,444 85,684 109.518 17,973 2,787 645.406 165,297 32,981 42,155 6,918 1,073 248.424 640,871 127,869 163,437 26,822 4,159 963,158 480.835 27.018 221,039 34,247 20,641 783,780 Support costs have been allocated to activates based on number of people employed within each activitv. 7 Governance Costs 2023 2022 Staff costs Auditors, remuneration - Audit fee Legal and professional fees Trustee expenses 55.438 18.4(Kl 3.023 3,328 80,189 53,396 16,078 13,091 218 82,783 The Trustees received no remuneration12022= £Nil). Expenses relating to travel and training were reimburse(J or paid to third parties on behalf of Trustees. These amounted to £3,32812022: £2181. 8 Staff costs 2023 2022 Salaries Social security costs Pension Termination payment Casual workers 2.183.046 222.090 128.961 1,962.811 190.586 116.610 5.809 498.110 2,773,926 844.498 3.380.595 The average number of staff in the year was 8812022=751= calculated on a full-time equivalent basis, the figure wa5 8612022.. 73 (including casual workers)- The number of employees with annual taxable emolument5 paid more than £60,[￿ per annum was: 2023 2022 £60,CMX)- £69,999 £70.000- £79.999 E90.￿04100.999 The total remuneration of key management personnel for the year was £310.17212022- £302,232). Charrty regisiered Ensla￿ and Wale5111477Ylind aC￿￿an¥ kmiied tywaiafftieellW753291. Re8151eTed wllhthe Regulator olsodal HouSffti148411. 29 PLACE Solving homelessness one person ot o time YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023 8 Staff costs Icontinued) Included in the above were payments to the Chief Executive, being the highest paid employee. amounting to £92,500 for the year excluding pension contribution12022.. £88.0341. The Chief Exetutive is a member of the Charivs defined contribution pension scheme. The charity contributes 7.5% of the salary to the Chief Executive's pension. and the Chief ExecutNe contributes the same percentage of her salary. 9 Tanglble Ilxed a55ets Freehold Land and Buildings Motor Vehlcles Fumlture & Equlpment Brand Total Cost At l April 2022 Additions Eliminated on disposal At 31 March 2023 12.990.762 194,454 I8.1￿1 26.400 19,1771 35.284 509,953 22.662 13.518,776 325,016 19,177 13,834,615 81,500 13.185.216 532.615 81.500 Depre¢iation At l April 2022 Charge in the year Eliminated on disposal At 31 March 2023 2.159.853 291.223 I8.C￿l 5,280 19,1771 18.061 184,576 .085 2,362,490 394,738 19,1771 2,362,490 8,150 2,159,853 184.576 Net book value As at 31 March 2023 10.734.139 21.120 257.955 73,350 11,086,564 As at 31 March 2022 10,830.909 325,377 11.156,286 10 Investments The Charity own5 IW% Share capital of the subsidiary company. Learning & Development Academy Ltd, which remained dormant in the year. 11 Stocks 2023 2022 Consumables 5.086 5.086 5,323 5,323 IZ Debtors 2023 2022 Trade debtors Prepayments VAT due Other debtors 667,464 113.160 279,279 127,395 57.985 52,438 517,097 56.050 836.674 Chaiityre8isieod In EnWarK¥and wa￿$ 111477941 ano •con4wv knkieo ￿8￿a￿a￿tte4￿F5321. Re8iSTÈfe¢ Wlih the Re8uLitoi of 50(i¥ Hov5inglWII. 30 PLACE Solvin9 homeless￿55 one person ot o time YOUR PLACE {LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 13 Credltors- Amounts falling due wlthln one year 2023 2022 Bank loans (note 151 Trade creditors Accruals Social security and other taxes Pension fund Other creditors 105,554 271,855 258,402 47,919 19,532 183,872 887,134 100.614 538,505 60,409 47,672 17,256 78,238 842,694 14 Creditors- Amounts falllnz due outslde one year 2023 2022 Bank loans (note 151 1,980,359 2.086.225 15 Bank loans The current loan is secured on the property at 81 Barking Road. London E16 4HB and associated assets. The repayment schedule for the new loan is a period of 25 years, ending on 17 February 2046. The applicable rate of interest is 2.73% fixed rate for 15 years from February 2021, and then a variable rate of 1.75% over base rate for the remaining term of the loan. The Charity also obtained a social investment loan of £120.OCrf) from Homeless Link for the Barn project during the financial year 2020-21. This is an unsecured loan and is repayable over 42 months. ending on l October 2024. The applicable rate of interest is 8% fixed rate. 2023 2022 Repayments are due as follows Within I year Between 2-5 yea Over 5 year5 105,554 301,136 1,679,223 2.085,913 100.614 334,735 1,751,490 2.186,839 Charw re8isiered In En8l•né and Wale51)L477941 atKJ a comwy finHwd tyluara￿Iee Iw0753291. Re&￿t￿ed wbth the Regulaior of Social HL¥jS￿g14s41]. 31 YOUR PLACE (LONDON) UMITED VPLACE Solving homelessness I)￿ person oto time NOTES TO THE FINANaAL STATEMENTS (rontinued) FOR THE YEAR ENDED 31 MARCH 2023 16 Unrestr5cted Funds Redurtion In long temi Loans At31 March 2023 At l Aprfl 2022 Income and Gains Expendlture Transfer5 Gentral 484,452 4,844.332 15.073.5831 121,603 1100,9261 275,878 De51gn*ed funds:_ Flxed Assets Post Grant Continuity Contin8ency Fund Major repair Fund Residents Furniture& Equipment (renewals & placèmentsl Acce55 Control 8.969,447 50,0(XI 30.OIY) 6.058 169.7221 13.5731 130.&XII 133.336 42.766 100,926 9,OCIJ,651 46,427 909,394 42.766 194.410 1194,4101 10,504,367 4,844.332 {5.073.5831 10,275,116 The Fixed Assets Designated Fund represents the net book value of unrestricted tsngible fixed assets less the outstanding balance of the long-term Property Loan. Each year amounts are transferred to QT from the Flxed Asset Fund, representing the movement in the net book value of the vnrestricted tangible fixed assets in the year and the reduction in the long-term loan. as capital is repald. The P05t Grant Continuity Fund repre5ent5 money set aside to cover costs Incurred where funding has ceased. Contin6ency Fund represents money set aside to cover costs relating to the restructure of certain departments. The Major Repairs Fund ￿presents money set aside to cover major repairs on CAH building. Every year an amount Is allocated to each component I￿ndOws. bathroom5, floorin& heatirvg and electriaty systems, lift. and krtchen) based on their useful economic life and estimated replacement Costs. The Residents Furniture & Equipment Fund represents money set aside to ￿plaCe residents, furniture and equipment both in their rooms and in the communal area. The Access control fvnd represents morley Set aside to replace the old access control system. Chanty iegk8tered in En8khd ontt waiesllla77YI ano a companylmrted tsyw¥antee lo￿753291. Rew51ered the Re{u￿t￿rOf Soci4 Hou5ins148411. 32 YOUR PLACE ILONOON) LIMITED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solving homelessness on•p•rson at a timt 16 Unrestricted Funds Icontlnued) Prfor year Reduction In long term Loans Atl At31 March 2022 In¢ome and Galns Expendlture 2021 Transfers Genernl 832.575 3.834.342 14,247.7051 140.285 175,0451 484,452 De5i8nated funds:_ Fixed Assets Post Grant Continutty Contin8ency Fund Major repair Fund Residents Furniture& Equipment (renewals & replacementsl Access control 8.383.456 So,￿0 510.946 75,045 8,969,447 50.000 30,000 776,058 30, 74,396 1146.1451 701.662 146.145 350.OX) 9.701.358 1155,5901 13,132 194,410 10.504.367 3.686.028 12.936.680) 17 Restrlcted Funds Atl Mar¢h 2022 At31 March 2023 Income Expend5ture Transfers Personal Development Education, Training and employment Move-on Donation in kind Capital fvnd Assessment Hub Food Transport Women Co- Ordinator Service 64.1>37 164,0971 215,217 27,756 3,756 92.496 1215,2171 127,7561 13.7561 192,8261 (s.0￿) 11,5WI 20,0 20,000 17,670 50,141 150,1411 38.C(Q 459.963 1460.2931 37,670 Chaiily re8bEEred In Eneland wa￿S {11477941 ar￿ acompany limited typJafantee1080753291. Be%ist?red With the ReE￿at0r0f Soaal Tr+ou5ing148411. 33 PLACE Sdvin9 homelessnèss one person at a tbme YOUR PLACE (LONDON) LIMITED NOTES TO THE FINANCIAL STATEMENTS lcontlnued) FOR THE YEAR ENDED 31 MARCH 2023 17 Restrfcted Fund5 Icontinuedl The transfers represent the capitsl expenditure in the year. Personal Development This fund SUPFK)rts our vulnerable residents with high levels of isolation, low self-esteem and complex challenge5 on their journey back to independent INing through structured personal development and Social activities. Move-on This fund 5UPPOrts our tenancy sustainalxlity service, allowing us to assist sin8le homes residents to access independent accommodation. Edu¢at•tin Trainin8 and Employment This fund sUPPOrts our residents with education, training and employment opportunities. Learning new skills helps our resident5 to improve their seSf-esteem and 8ain experience so that they can re-enter the workforce. Donatlon In Klnd This fund represents the value of furniture, other tterns and services donated by various organisations during the year. Capital Fund This is a restricted fund to be used on CAH'S wider capital programme includin8 the Hope Street project. Women Ctrordinator Service This fund supports specialist accommodation-based support to women across the Charity. Food Transport Thi5 fund supports transportation of food donated by our partners to the residents. Assessment Hub This fund supports the Assessment Hub's residents, personal needs including food and clothin& and their move on programmes. At 31 Marth 2021 At 31 March 2022 Income Expenditure Transfers Personal Oe¥elopment Education. Training and employment Move-on Donation in kind Capr(al fund As5e55ment Hub Comd Kickstart TraiThng 101.425 1101.4251 101,586 64.923 55.050 412,701 1101,5861 144.9231 I37.6￿) 20,OC(J 117.3601 1436.S321 41,831 18,OCK) 15.C(Ql 13.9781 3.978 41,831 749.663 1299.6021 1453,8921 38,OLXI Charityre8istered In En￿￿￿ and wa￿$(11477￿1è￿d a by waranEeelW￿29tr. Aeg￿tert￿￿th the RwL4tOr of Sotia H￿$*￿14841]. 34 YOUR PLACE {LONDON) LIMITED NOTES TO THE FINANaAL sfATEMENTS (continuedl YPLACE Solving homele55ness one person at a time YOUR PLACE (LONDON) LIM￿ED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2013 18 Analysls of net assets between fvnds Unrestrlrted Desl8nated Funds Funds Restrlcted Funds Totsl 2023 31 March 2023 Fixed assets CLbrrent assets Current liabilitie5 Long term liabilities Total net assets 11.086,564 998,587 1105,5541 11.980,3591 9.999.238 11.086,564 2,093,715 1887.1341 11.980,3591 10,312,786 1,057,458 1781.5801 37,670 275,878 37.670 Unrestrkted Funds Deslgnated Funds Restrfcted Funds Total 2022 31 March 2022 Fixed assets Current assets Current liabilities Long term liabilities Total net assets 11.156.286 1,050.468 11(Ki.6131 12,086,225) 10,019.916 11.156.286 2,315,000 1842.6941 12,086,225> 10.542.367 1,226.532 1742.0811 38,CrfJO 484.451 38,1 19 Capltal commltments 2023 2012 Refurbishment Fire Doors Rebranding and new website 108,022 194,410 57,360 251.770 108,022 Chaiityre8tstÈred In Enilandand Wa￿5 Illd77YI and a cornpanv krnited tywaiaffliee IiB)753291. RegistErEd with Ehe Rewlotor of S00èl HouSin8148411. 35 YOUR PLACE (LONDON) UMITED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31 MARCH 2023 PLACE Solvirbg homelessness one person at a lime 20 Leasing commitments The Charity's future minimum operating lease payments are as follows= 2023 2022 Wlthin one year Between one and five years 11,151 8,539 12,022 31,712 19,690 43,734 The telephone system and photo copier are held under operating lease arrangements. 21. DETAILED STATEMENT OF FINANaAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2022 Unrestrltted funds 2022 Restrlrted fund5 2022 Totsl Funds 2022 Notes INCOME FROM Donations, grants and legacies Charitable activity: Anchor House 2a 253,418 749.663 1,003,081 2b 3.559.566 3,559,566 Other trading artivities: Rent receivable 21.358 21,358 TOTAL INCOME 3.834.342 749,663 4,584,￿5 EXPENDITURE ON Cost of ralsin8 funds Charitable activity= Anchor House 221.394 221,394 4,026,311 299,602 4,325,913 TOTAL EXPENDITURE 4.247,705 299,602 4,547,307 Net Income 1413.3631 450,061 36,698 Transfers between funds 453,892 1453.8921 NET MOVEMENT IN FUNDS 40,529 3,831 36,698 TOTAL FUNDS BROUGHT FORWARD 10.463,838 41,831 10,505,669 TOTAL FUNDS CARRIED FORWARD 10,W,367 38,(KlO 10,542,367 ChJrrty ie8i51ered ID and Waksl11477941 and *8L4raotee IOW7S3291. Re8K51ered wilh ReEu&toi olS0t￿ Housir4148411. 36 to6UY7U Your Place (London) Limited Audit Findings Report **For the Year Ended** 31 March 2023 Partner: Lee Stokes; lstokes@haysmacintyre.com Manager: Sandra Marley; smarley@haysmacintyre.com ## **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## Table of Contents |1.|Introduction and Executive Summary .............................................................................................................................................. 1| |---|---| |2.|Audit risks and key judgement areas identified during planning ........................................................................................................ 2| |3.|Accounting and Audit Matters ......................................................................................................................................................... 3| |4.|Detailed control points ................................................................................................................................................................... 4| |5.|Data Anaytics………………………………………………………………………………………………………………………………… ……………………………………….6| |6.|Emerging issues ............................................................................................................................................................................. 8| **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **1. INTRODUCTION AND EXECUTIVE SUMMARY** This report summarizes our key findings in connection with the audit of the financial statements of Your Place (London) Limited for the year ended 31 March 2023. ## **Our audit approach** Our work was planned and performed in order to issue an audit opinion on the financial statements in accordance with International Standards on Auditing (UK) (“ISAs”) and the terms of our letter of engagement. Our audit approach is a risk-based approach founded on us gaining a thorough understanding of the entity and its business in order to allow us to identify the risks of material misstatement within the financial statements. To do this, we consider both the risk inherent in the financial statements themselves and the control environment in which the entity operates. We then use this assessment to develop an effective and efficient approach to the audit. ## **Limitations** Our audit procedures, which have been designed to enable us to express an opinion on the financial statements, have included an examination of the transactions and the controls thereon. Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for expressing an opinion on the effectiveness of internal control or to identify any significant deficiencies in their design or operation. We have included in this report only those matters that have come to our attention as a result of our normal audit procedures and, consequently, our comments should not be regarded as a comprehensive record of all deficiencies that may exist or improvements that could be made. ## **Overall conclusion and opinion** At the time of issuing this report we anticipate issuing an unqualified opinion on the financial statements. 1 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **2. SIGNIFICANT AUDIT RISKS, AND OTHER FOCUS AREAS IDENTIFIED DURING AUDIT PLANNING** We set out below the significant audit risks and where applicable, other key areas of focus for our audit identified at the planning stage and the conclusions of our audit work: |||| |---|---|---| |**Significant Audit risk/focus area**|**How we addressed this**|**Commentary**| |||| |||| |**Presumed risk in revenue recognition**
Under ISA 240 there is a presumed risk that
revenue may be misstated due to improper
revenue recognition. We are required to consider
and respond to the risks of improper revenue
recognition.
However, this presumption may be rebutted and in
your case, we have concluded that it was
appropriate to do so as set out in our Audit
Planning letter. Audit testing was therefore
focussed on the risk of error.|We have undertaken the following procedures to verify
the appropriateness of revenue recognition:
•
Detailed substantive testing of revenue including
cut-off testing.
•
Analytical testing of accommodation income with
reference to occupancy levels and charging rates|Our audit work on revenue did not identify any
material issues.| |||| |||| |**Presumed risk of management override**
We are required to consider and respond to the
risks arising from management override of
controls.|Accounting estimates were reviewed for potential bias.
The business rationale for unusual or significant
transactions outside the normal course of business for
the company were evaluated.
We reviewed the appropriateness of general journal
entries posted throughout the year and at the year-end
for the preparation of the financial statements.|
Planned audit work considered to be satisfactory in
this area.| |||| 2 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **3. ACCOUNTING AND AUDIT MATTERS** ## **3.1 Qualitative aspects of accounting practices and financial reporting** ## **i. Key accounting estimates** Accounting estimates are defined by ISA 540 as monetary amounts for which the measurement, in accordance with the requirements of UK GAAP, is subject to estimation uncertainty We consider the key accounting estimates affecting Your Place (London) financial statements for the current year are in relation to the bad debt provision. We have reviewed the accounting treatment and are satisfied that the financial statements are not materially misstated. ## **3.2 Accounting and audit matters** ## **i. Summary of adjusted and unadjusted misstatements** No uncorrected material misstatements were identified during our audit work that were not considered to be trivial. ## **ii. Letter of representation** International Standards on Auditing require us to obtain written representations from the trustees when you approve the financial statements. The letter includes only standard items with no additional representations specific to the charity. 3 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **4. DETAILED CONTROL POINTS** During the course of our audit, we identified the following detailed control points that we feel need to be brought to the attention of the Trustees and certain recommendations for improvements and or corrective action. Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for expressing an opinion on the effectiveness of internal control or to identify any significant deficiencies in their design or operation. The matters and detailed control points that we have identified are graded within the following framework to assist the Trustees assess their impact. |**Rating**|**Rating type**|**Characteristics of rating type **| |---|---|---| |**Significant**|These findings are considered to be significant to the
management of risk in the business. The finding represents
a serious weakness in systems and controls currently in
place or a potentially fundamental control that has been
omitted from the risk management systems as currently in
operation.|•
Key control omitted.
•
Key control not designed or operating effectively, for example as indicated by
multiple exceptions found during our review work.
•
Evidence of override of controls in place with significant or potentially
fraudulent outcomes
•
Non-compliance with laws and regulations| |**Important**|Important findings that should be reviewed by
management, pending corrective action and or updates to
systems and controls.|•
Errors and exceptions noted during our testing that had corrected
retrospectively during the year by management.
•
Potential improvement to existing control noted.
•
Possibility for override of controls exists.
•
Our review noted numerous exceptions but not in key controls| |**Limited**|Findings that identify non-compliance with established
systems and controls.|•
Minor control weakness, for example limited exceptions noted during our
review work| |**Advisory**|Items requiring no immediate action, but which may be of
interest to management or best practice advice.|•
Information for department management
•
Control operating but scope for efficiency and/or effectiveness improvements
exist.
•
Control operating but not necessarily in accordance with best practice.
•
Recent or anticipated developments may necessitate new controls.| 4 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** We wish to bring the following matters to your attention which arise from the current year audit as well as the latest status of outstanding issues arising from previous year audits: ## **Current year** |**Issue:**|**Donation confirmation**|||**Controlpoint rating: **|**Advisory**| |---|---|---|---|---|---| |**Risk**||**Our comments &proposals**|**Management response**||| |Salesforce does not contain contact details of donors
so the donation letter cannot be tracked.||We recommend to keep a list of donors with details
when donations are made.|Noted. Will implement the recommendation.||| We identified the following issues in the prior year audit and made the following recommendations. We have followed up the status of the issue in the current year: ## **Prior year** |**Issue:**|**Equals System balance**|||**Controlpointgrade:**|**Limited**| |---|---|---|---|---|---| |**Risk**||**Our comments &proposals**|**Currentyear update:**||| |CAH now uses the Equals system of prepaid charge
cards. At the year-end the general ledger showed a
balance held on the Equals account of £980.
The Equals account is accessible online but by the time
the audit was conducted in July it was not possible to
review the balance at 31 March retrospectively.||Whilst
the
year-end
amount
and
annual
expenditure (£26k) are immaterial, it would be
good practice to maintain a record of the balance
at key dates.
We**recommend**that at screen shot is taken at
31 March in future.|In the current year Client had provided the audit
team with the screenshot as ay 31 March 2023.
No issues noted.||| 5 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **5. DATA ANALYTICS** In additional to our usual audit tests, we have used our data analytics software to interrogate transactions making up the financial statements. We extracted the full transactional listing from your accounting system. By then reconciling on a line-by-line basis the aggregate impact of the transactions made during the period we were able to confirm the completeness of the population. We then used characteristic based data analytics and a multi-dimension risk scoring logic which analyzed every transaction in the population against a set of potential risk identifiers, highlighting the transactions we deemed to pose a heightened risk of fraud, error or misstatement. The visualization shows each unique accounting entries posted during the year, plotting the number of identical transactions (frequency) and the impact they have on the reported profit number. The visualization highlights unusual entries which heavily impact profit in the top left and top right of the chart. During the period there were a total of 5,455 transactions within Your Place's Sage 1000 system. When combined, 290 unique general ledger code combinations were found. A total of 8 combinations were flagged in the highest risk category, being those occurring fewer than 4 times and having a significant impact on reported profit (in red). There were 10 transactions within these combinations. **Conclusion:** These accounts included deferred revenue, salaries, bad debt provision, accruals, and some expenditure balances. We have tested these in detail during our audit and no issue noted. ## **Test: Seldom used accounts** – review of transactions posted to a seldom used account in the year **Risk:** Transactions entered to seldom used general ledger accounts may not be subjected to regular scrutiny by core internal controls or period end reviews. During the period there were 162 transactions identified within Your place general ledger system on seldom accounts. We recommend the nature of seldom used general ledger accounts should be evaluated. The accounting processes requiring these accounts and their incorporation in control processes should be considered. **Conclusion:** We have reviewed the nature of seldom used general ledger accounts during the audit There were no issues noted during in the year. 6 ## **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** **Test: Round Sum Values** - review of transactions which contain individual lines within the transactions which are round sum value, or within 0.01 less than a round sum value **Risk:** Round sum values are higher risk of fraud or errors in posting and it is often unlikely for normal transactions to be round sum values. A total 139 transactions (0.1%) for Your place were round sum values. We have reviewed a sample of these transactions and noted the most transactions were in relation to grants, bank transfers and accruals transactions. **Conclusion:** We are content from our audit that the round sum value transactions are a function of regular monthly adjustments. 7 ## **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **6. EMERGING ISSUES** ## **Charity reporting and governance matters** **Charity Commission guidance on the impact of the cost-of-living crisis** The Charity Commission has published guidance on managing financial difficulties arising from the cost-of-living crisis, covering the following main subject areas: 1. Trustees’ duties and decision making 2. What to do if you experience financial difficulties 3. What to do if your charity cannot continue to operate 4. Reporting a serious incident to the Charity Commission The new page emphasises various existing guidance for Trustees, but with a specific focus on the impact of the current economic climate, and it can be found here: https://www.gov.uk/guidance/manage-financial-difficulties-in-your-charity-arising-from-cost-of-living-pressures ## **Charity Commission consultation on social media guidance** The Charity Commission’s consultation on new guidance concerning charities’ use of social media closed in March 2023 and the guidance is expected to be issued in Summer 2023. The guidance will address both charities’ own use of social media and Trustees’ responsibilities in this regard, and the potential risks surrounding charity employees’ use of social media. On this latter point, the Commission is clear that employees should be free to use social media in their own right but notes the potential for private posts to be interpreted as the views of the charity, with the risk to the charity’s reputation that this could bring, and the consequent need for charities to consider setting guidelines to govern their employees’ use of media and to set policies concerning how the charity would respond to any negative exposure. ## **Revisions to the Annual Return** In December 2022, the Charity Commission published the outcome of its consultation on changes to the Annual Return, which will take effect for Annual Returns relating to financial years commencing on or after 1 January 2023. The new Annual Return will include 23 new questions all charities will be required to answer 32 questions, up from a baseline of 16 in previous annual returns. The maximum number of questions that a charity will have to answer is now 52. The changes to the questions cover the following areas: 8 ## **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **Charity reporting and governance matters** 1. Financial governance 2. Income and operations outside England and Wales 3. Charity operations and structure 4. Employees and volunteers 5. Governance of risk, incidents and safeguarding 6. Response to major external change The detailed consultation outcome, including all of the new and revised questions, can be found here: https://www.gov.uk/government/consultations/charity-commission-revisions-to-the-annual-return-2023-25/annual-return-2023-consultation#annexes **Financial Reporting** Financial reporting framework **UK GAAP developments** In December 2022, the Financial Reporting Council published FRED82, the exposure draft for the latest periodic review of FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland. Amongst numerous minor amendments and clarifications, FRED82 proposes two significant changes to UK GAAP which would bring it into closer alignment with International Financial Reporting Standards: 1. Changes to Section 20 Leases, which mirror the requirements of IFRS16 Leases and remove the distinction between operating leases and finance leases, with the result that all leases will lead to the recognition of an asset and a liability in the lessee’s financial statements. 2. Changes to Section 23 Revenue, which introduces the five-step revenue recognition model from IFRS15 Revenue from contracts with customers into UK GAAP. We had been expecting that the periodic review would also include changes to bring FRS102 into alignment with IFRS9 Financial Instruments, in particular the adoption of the expected credit loss model of financial asset impairment. However, the FRC has decided to postpone any alignment with IFRS9 until the IASB has concluded its own review of the IFRS for SMEs, which is expected to include limited alignment with IFRS9 in this regard. The ED is open for comment until 30 April 2023, and it is intended that the revised standard would take effect for accounting periods commencing on or after 1 January 2025. New requirements for other information 9 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** **Financial Reporting Taskforce on Climate-related Financial Disclosures Periods starting on or after 6 April 2022 -** This is the proposed date for mandatory climate-related financial disclosure requirements for publicly quoted companies, large private companies and Limited Liability Partnerships to apply. Following a consultation process by the Financial Conduct Authority (FCA), for accounting periods beginning on or after 1 January 2021, commercial companies with a premium listing on the main market of the London Stock Exchange are required to include climate-related financial disclosures in their annual report. The disclosures should make clear the extent of their compliance with the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations on a comply-or-explain basis. In October 2021, the UK Government laid before Parliament legislation for the inclusion of TCFD aligned disclosures in the annual reports of all publicly quoted companies, public interest entities and large private companies for periods beginning on or after 6 April 2022 (with equivalent legislation for large LLP’s expected to follow). The disclosures are to be included within the Strategic Report in the newly defined ‘non-financial and sustainability information statement’. Large in this context refers to companies with more than 500 employees and Turnover in excess of £500m and “quoted” companies exclude those listed on the AIM market. **Employment Tax Pension tax relief for low earners in Net Pay Arrangements** The government will introduce legislation in future Finance bill to make top up payments directly to low earning individuals saving in a pension scheme using a Net Pay Arrangement (‘NPA’). Employees contributing to Relief at Source (RAS) schemes receive a 20 percent top-up on their pension contributions, even if they pay no income tax. Contrast this to employees contributing to a NPA scheme who receive relief at their marginal tax rate, which for those with taxable earnings at or below the UK personal allowance is nil. The top ups will start to be paid from 2025/26 in relation to contributions made in 2024/25 onwards and align NPA participants with their equivalents saving into pensions schemes via the RAS method. ## **Pension Salary Exchange** The current cost of living crisis has meant that it is difficult for some employees to manage day to day living, especially in the charity sector where majority may be paid at or just above the National Minimum Wage. One way for Charities to help these employees is to introduce a Pension Salary Exchange. The Exchange is a legitimate method of reducing both employer and employee NIC liabilities and without the Exchange, employees would pay their pension 10 **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** **Employment Tax** contributions from their net pay (i.e., after deduction of income tax and NIC). The Exchange works by agreeing with the employee to reducing their salary and in exchange the employer pays the equivalent amount in pension contributions on behalf of the employee. Both the employer and employee will pay less Class 1 National Insurance, meaning the employee will have a bit more money in their pay packet at the end of the month. |**Employment Tax**|**Employment Tax**|**Employment Tax**|**Employment Tax**|**Employment Tax**| |---|---|---|---|---| ||contributions from their net pay (i.e., after deduction of income tax and NIC). The Exchange works by agreeing with the employee to reducing their salary
and in exchange the employer pays the equivalent amount in pension contributions on behalf of the employee.
Both the employer and employee will pay less Class 1 National Insurance, meaning the employee will have a bit more money in their pay packet at the end
of the month.
A worked example of potential NI savings is illustrated below for an employee earning just above the NMW at £20,000 per annum.
**Pre-Salary Exchange**
**£**
**Post-Salary Exchange**
**£**
Annual salary
20,000
18,749.96
Monthly salary
1,666.67
1562.50
Employee monthly pension contributions (at 5% of monthly
salary)before tax relief
£83.33
0
Employee monthly pension contributions after 20% tax relief
104.17
0
Income tax
123.73
102.90
National Insurance (@12% after allowing for monthly NI
allowance of £1048)
74.24
61.74
*Take homepay
1385.37
1397.86
Employer pension contributions (3% of £1666.67)
50.00
154.17
Employer monthly NI saving which it may choose to pay into the
employee’s pension (@13.8% of £104.17)
0
14.38
***Take home pay is £12.50 per month greater under**
**salary exchange **|||| ||**Pre-Salary Exchange**|**£**|**Post-Salary Exchange**|**£**| |||||| ||Annual salary|20,000||18,749.96| ||Monthly salary|1,666.67||1562.50| |||||| ||Employee monthly pension contributions (at 5% of monthly|£83.33||0| ||salary)before tax relief|||| ||Employee monthly pension contributions after 20% tax relief|104.17||0| |||||| ||Income tax|123.73||102.90| ||National Insurance (@12% after allowing for monthly NI|74.24||61.74| ||allowance of £1048)|||| ||*Take homepay|1385.37||1397.86| ||Employer pension contributions (3% of £1666.67)|50.00||154.17| |||||| ||Employer monthly NI saving which it may choose to pay into the|0||14.38| ||employee’s pension (@13.8% of £104.17)|||| |||||| ||***Take home pay is £12.50 per month greater under**|||| ||**salary exchange **|||| 11 ## **Your Place (London) Limited – Audit Findings Report** | **Year ended 31 March 2023** ## **Other matters** **Changes to Companies House filing arrangements.** One consequence of the Economic Crime and Corporate Transparency Bill 2022 is that Companies House will have extended powers to mandate how companies submit their accounts for filing. Companies House has published proposals to move to a fully digital, software-based filing process for all registered companies, including dormant companies. The detailed timetable for implementation will be published in due course, following the passage of the Bill to Royal Assent, but Companies House has indicated that there will be a phased implementation to enable all accounts filers to obtain suitable software. We will provide updates on this as the Bill proceeds through the legislative process. ## **HMRC “customer” service standards** There are increasing delays in obtaining responses from HMRC ranging from delays in the region of six months in processing applications for VAT registrations, delays in obtaining repayments, a decision to cease acknowledging option to tax notifications. If you anticipate having any interaction with HMRC then factor in additional time. 12 Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG T 020 7969 5500 F 020 7969 5600 E marketing@haysmacintyre.com www.haysmacintyre.com @haysmacintyre - © Copyright 2023 Haysmacintyre LLP. All rights reserved. haysmacintyre is the trading name of Haysmacintyre LLP, a limited liability partnership. Registered number: OC423459 Registered in England and Wales Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales A list of members’ names is available for inspection at 10 Queen Street Place, London EC4R 1AG. A member of the ICAEW Practice Assurance Scheme Disclaimer: This publication has been produced by the partners of Haysmacintyre LLP and is for private circulation only. Whilst every care has been taken in preparation of this document, it may contain errors for which we cannot be held responsible. In the case of a specific problem, it is recommended that professional advice be sought. The material contained in this publication may not be reproduced in whole or in part by any means, without prior permission from Haysmacintyre LLP.