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2024-03-31-accounts

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

Company Registration Number: 08075329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841

“ I’ve been so touched by the way that staff have reached out to me. JOSH ”

“a story Is what It’s LIKe to be a human beInG. to be KnocKed down and to mIracuLousLy arIse. each one of us has arIsen, awaKened. we do rIse. MAYA ANGELOU ” CONTENTS 2 A MESSAGE FROM OUR CHIEF EXECUTIVE 4 TRUSTEES’ ANNUAl REpORT 5 AbOUT US 5 OUR VAlUES 6 STRUCTURE, GOVERNANCE ANd MANAGEMENT

7 ObjECTIVES ANd ACTIVITIES

8 METRICS

9 FUNdRAISING

1O STRATEGIC REpORT

12 TRUSTS ANd FOUNdATIONS

13 AwARdS

13 SUSTAINAbIlITy

14 FINANCIAl REVIEw

16 plANS FOR FUTURE yEARS

18 RISk MANAGEMENT

19 STATEMENT OF TRUSTEES’ RESpONSIbIlITIES

22 INdEpENdENT AUdITOR’S REpORT 25 FINANCIAl STATEMENTS

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

a messaGe from our chIef eXecutIve

At Your Place, our mission is to solve homelessness one person at a time. Serving a community with the highest rates of homelessness in the UK, we find ourselves in a unique position to understand the unprecedented scale of the issue.

Your Place offers people hope, a home and a sanctuary which heals, growing the lives, opportunities and skills of each resident. This year the nation’s housing crisis has been particularly severe in London. Mental health issues became more widespread, and greater challenges were experienced by people with refugee status in accessing employment and housing.

Understanding these issues, collaborating with others to share best practice, sharing organisational strengths and influence in the sector, bringing meaningful and lasting change for all people experiencing homelessness or rough sleeping, is also at the forefront of our work.

In a post-Covid cost-of-living and rental crisis with record levels of homelessness, Your Place has been proud of the high quality of our services delivered and the people and teamwork that made this possible. Since the cost-of-living crisis began, the community is experiencing a rise in safeguarding issues, more complex mental health issues and greater numbers of people fleeing domestic abuse.

Not only are we experiencing greater numbers of homelessness, we are seeing a greater number of complex and varying needs among residents too. I’m immensely proud of the work of our service teams, the pioneering collaboration of the Women’s Development Team and the resilience we’ve seen with trauma at Your Place. We are seeing tangible developments in people’s lives across the organisation and its residents each day.

A highlight of our year was our Christmas celebration, made special through our corporate partners’ involvement along with some hard work from many in the local community. Your Place is also working hard to create permanent homes for residents, while also the team is working on the process of developing a second site in East London.

Throughout the year, our mission and values have remained key to what we do, compassionately, inclusively, collaboratively growing the charity’s work and the lives of our residents, one person at a time. Without those individuals and organisations that generously fund and support the life-saving work at Your Place, none of this would be possible. For this we are very grateful.

I hope you enjoy reading our report,

Amanda Dubarry Chief Executive

2 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

“thanKs to your PLace, my hoPe for the future was restored, and I found the determInatIon to overcome the obstacLes In my Path. BORYS ” 3 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

trustees’ annuaL rePort

Administration

Sub-Committees

The Trustees present their report and financial statements for the year ending 31 March 2024. The report, which constitutes a Trustees’ report for the purposes of charity legislation and a directors’ report for the purposes of company legislation, has been prepared in accordance with Part VIII of the Charities Act 2011.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charitable company’s Memorandum and Articles of Association, applicable laws, the Companies Act 2006 and the requirements of the Statement of Recommended Practice “Accounting and Reporting by Charities” SORP 2015 (FRS 102) (Second bulletin effective January 2019) and the requirements of the Statement of Recommended Practice (SORP) Accounting by Registered Social Housing Providers.

We have supported the operation of the following Sub-Committees:

  1. Finance, Audit, Governance, and Risk Sub-Committee

  2. People & Culture Sub-Committee

  3. Executive Sub-Committee

  4. Premises Management Sub-Committee

  5. Frontline Services Quality Assurance and Impact Sub-Committee

Principal Address

Your Place Anchor House 81 Barking Road Canning Town London E16 4HB

Constitution

The charitable company is governed by its Memorandum and Articles of Association. The members of the Board of Trustees are the company’s 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

Chair of Trustees Resigned 7 June 2023

Mr Simon Hall Ms Emma Butterworth Ms Laura Curtis Mrs Emer Delaney Mrs Cate Kirkbride Mr Graeme McLean Councillor Joseph Ogundermuren Mr Anil Sharma Mr Charles Abel Smith Mr Kevin Maxwell Mrs Rose Soffel

Appointed 12th December 2023 Appointed 12th March 2024

Auditor

Haysmacintyre LLP, 10 Queen Street Place, London, EC4R lAG

Solicitor

Bates Wells, 10 Queen Street Place, London, EC4R 1BE

Bankers

Barclays, 1 Churchill Place, London E14 5HP NatWest, 1-11 The Broadway, London, E15 4DX

Company Registration Number 08075329 (England and Wales)

Registered Charity Number 1147794

RSH Registration 4841

4 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

about us

Your Place has served the community for over 60 years, providing a safe place and support for people to rebuild their lives.

We are based in the London Borough of Newham which has the highest levels of homelessness in London and has the highest overall levels in the country. We opened at Anchor House over 60 years ago, originally operating as a seaman’s mission. The change to focus on homelessness came following the decline and closure of the docks in the late 1980’s and early 1990’s.

In October 2022 we changed our name from Caritas Anchor House to Your Place, aiming to reflect a more person-centred and inclusive service. Almost two years on from our name change and brand development, Anchor House is still inherently core to our history, identity, our mission, values and objectives, while the Your Place brand is evolving and growing.

Your Place is about focusing on each person and their individual needs as they regain a sense of ownership over their lives. We’re a community of people and services that supports a person’s journey to a better place. Anchor House has been a cornerstone of the community in East London for over half a century.

We can’t end homelessness for everyone, but we can help to solve it one person at a time. Our mission is to build hope, enable lasting change and end homelessness for people in East London. Our values guide our interactions and decisionmaking processes at all levels within the organisation.

I’ve been so touched by the way “ that staff have reached out to me. MARIA”

our vaLues

we care about people, value their views and experiences and put them at the heart of all we do.

Compassion

inClusion we celebrate diversity, promote inclusivity and respect, and challenge inequity.

we support people to breakthrough barriers and fulfil their hopes and potential.

Growth

Collaboration we’re stronger 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 assessment 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 growing number of residents we are now able to support. In the year ended 31st March 2024, we accommodated and separately supported a total of 352 people, helping 157 people to move on positively from our services, leaving homelessness behind them.

theIr beLIef In me heLPed me rebuILd “ myseLf; now I LooK forward and see thInGs wIth a sense of hoPe. KABIR*, FORMER RESIDENT ”

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

structure, Governance and manaGement

Your Place is a Registered Charity and Company Limited By Guarantee as well as a Registered Provider 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 Housing.

Our Trustees meet on a quarterly basis to review the performance of the organisation and plan for the future. The professional backgrounds of the Trustees include financial management, housing, business planning, homelessness charity management, equity, diversity & inclusion management, law, risk management, community involvement, marketing, HR and investment banking.

The day-to-day running of the charity is delegated to the Chief Executive and Senior Management Team (SMT). Our SMT is 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 Inkster joined as our Director of People, bringing with her a strong background in the charity sector.

Key management remuneration is set by the Trustees by reference to the degree of seniority and responsibility of the post, by benchmarking against similar roles in charities of similar size and complexity and in the light of performance appraisal.

Trustee recruitment, induction and training

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 Autumn 2023, Mr Kevin Maxwell and Mrs Rose Soffel joined us as Trustees of the charity.

All new Trustees are provided with a trustee induction pack and induction process and are encouraged and supported 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 Programme.

“your PLace Is LIKe a famILy. you never feeL aLone. they motIvate you to KeeP LearnInG, KeeP stayInG, stronG and KeeP movInG towards your GoaLs. BITANIA ”

6 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

obJectIvIes and actIvItIes

Your Place’s objects contained in its Memorandum and Articles of 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 East London and support them to move on and break the cycle of homelessness for good.

Public benefit

We do this by:

Providing a safe place - to make sure that people experiencing homelessness have somewhere safe to stay as they begin to rebuild their lives.

Offering support - to encourage and enable people to build 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 with confidence and be a proactive member of their community outside of and beyond life at Your Place.

Our frontline teams work directly with residents during their time at Your Place. Each resident is assigned a keyworker who will guide them through their stay and supports them to access a holistic service relating to health and wellbeing, education, employability, financial management and securing and sustaining new tenancies.

Residents can participate in training, workshops and activities including money management training, ESOL (English for Speakers of Other Languages), mindfulness sessions, counselling, CV workshops and events. Our goals for our residents are for them to move on from our services with the skills to navigate their next chapter with confidence, and to sustain their accommodation and independence long term.

The Trustees 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 Benefit” in the exercise of their powers and responsibilities as 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 social housing with the Regulator of Social Housing (‘RSH’), 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 Borough of Newham, to ensure that they, as the principal commissioners of our services, feel that they are receiving such value. We regularly review our performance and the way we work to continue developing the impact of services and using resources in the most effective and efficient way.

your PLace Is more than Just a “ roof over my head; It’s a communIty that has GIven me hoPe, suPPort, and a chance to start a new chaPter In my LIfe. ”

HALIMA

7 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

metrIcs

Metric 1 Reinvestment %

This metric looks at the investment in properties (existing stock as well as new supply) as a percentage of the value of total properties held. The percentage reflects major repairs work on the existing properties, including replacing the lifts in 81 Barking Road. The charity’s metric for reinvestment for the year was 1.03% (2023: 1.81%)

The cost per unit for the year was £26,351 (2023: £23,384). The cost reflects the average cost of housing and support services offered to our residents in the year. The support services vary from low to high, including services to people sleeping rough and residents with multiple and complex needs.

Metric 2 New supply delivered %

During the year the charity has delivered nil social housing units. The charity does not have a development programme to deliver new units every year.

Metric 3 Gearing %

The charity’s property, Anchor House, is owned freehold. The charity has two long term loans, one with NatWest, secured against this property, and the other with Homeless Link. The balance outstanding at 31 March 2024 of £1,980K (2023: £2,086K) represents 3.48% (2023:15.23%) of housing depreciated value owned by the charity.

Metric 6 Operating Margin (overall)%

The operating margin of the charity as a whole for the year was 9.03% (2023: -3.30%).

Metric 7 Return on capital employed (ROCE) % This metric compares the operating surplus to total assets less current liabilities. For the charity as whole this was 3.66% for the year (2023: -1.4%).

your PLace wILL aLways be so “ ImPortant for PeoPLe LIKe me who have nowhere to Go – and there are a Lot of PeoPLe In my shoes. BROTHER ”

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fundraIsInG

The kindness of our supporters is crucial to our objectives.

Your Place values every supporter and strives to maintain the highest possible standards when fundraising. Registered with the Fundraising Regulator, we are committed to the Fundraising Promise and working in a way that is compliant with the Code of Fundraising Practice. This report covers the requirements that charities must follow as set out in the Charities Act 2016. Our fundraising policy and practices are kept under review and we ensure that our fundraising meets the legal standards required and reflects best practice, so that our donors can support with confidence.

In the last financial year, Your Place continued its focus on securing grants, individual donations and gifts in kind. While we receive statutory funding towards accommodation services, it’s the generosity of our supporters, trusts, foundations and community members that provides for our additional services and the quality of them. Covid and the cost-of-living crisis have changed the landscape and the charity sector is now seeing unprecedented levels of applications to trusts and foundations, some experiencing over a 40% rise in applications. Despite this, we raised £702K income from grants and donations in the year, exceeding targets in a sector with new levels of competition.

Our Trust and Foundation team successfully bid on multi-year unrestricted funding, totalling over £573,000 for the charity.

Additionally, in individual giving from supporters to UK charities, the median gift of £20 has not risen since 2017. Despite this, there have been inflation, rising energy costs and many other challenges facing charities. Individual supporters have faced a continuing cost of living crisis, yet despite this, we met targets and have increased them for this year.

We participated in the Big Give Christmas Challenge 2023, successfully reaching target, raising a total of £34,021 to support residents to move on from our services, living independently. This was made possible by exceptional teamwork and external support. Regular and one-off gifts under £500 raised a total of £32,283 in 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.

Your Place experienced an increase in the number of donors giving to us regularly, an increase in donor contact, while also we ventured into magazine advertising, gaining new donors and a good return on investment.

Your Place are particularly grateful for the foodbank donors including City Harvest, Felix Project, Pret, Sainsburys and the many individual donors who have helped make a difference.

It’s important to us that everyone we interact with feels free from undue influence when they consider donating. We ensure our fundraisers can recognise signs of potential vulnerability and can manage conversations, taking action in the most appropriate way. In 2024 we identified a need to develop supporter care, creating supporter journeys and implementing the brand strategy with new fundraising materials and documents.

We acknowledge that people’s 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 are also signed up to the Fundraising Preference Service to enable individuals to opt out from receiving fundraising communications from us - we received zero requests from this service during the year.

We promise to 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 - performed by ourselves or any third parties - in the year.

We did not work with any professional fundraisers or commercial participators, as defined by the Fundraising Regulator. Should this be something we do in the future, we 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.

9 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

strateGIc rePort

The context in which we work has become ever more challenging over the last few years.

The housing crisis continues to deepen with house prices and rents beyond the reach of many of those living locally. Wages have not kept pace with inflation which has continued to soar, leading to a cost-of-living crisis across the country which is hitting those on low incomes the hardest and impacting on charitable giving.

We ended the year with 155 bed-spaces , making Your Place the largest provider of supported accommodation for people experiencing homelessness in Newham , with Anchor House in Canning Town one of the largest hostel services in the country . We provided seven supported accommodation services in the year:

Our Core Service , providing 121 rooms and flats for those experiencing homelessness with low to medium level support needs.

Our Intensive Support Service (previously called our Complex Needs service), providing 19 rooms for those who have been rough sleeping and have high level support needs.

Our Hope Street Service , providing 15 Move On ‘houses’ for people who have been rough sleeping with low to medium support needs.

The following services were delivered under a fixed term partnership arrangement until August 2023:

Our Direct Access Assessment Hub , providing 14 rooms for people who have been rough sleeping and are coming straight from the streets.

Our Plashet Service , 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 high 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.

Our Community Partnerships team oversee a wide range of additional support services to help our residents to move on from homelessness. This includes our employment support to residents, resident engagement work, and volunteering.

We have been delighted with the outcomes this team has achieved in education, training and employment (ETE).

29% of those who engaged in ete services are in employment (of those eligible to work)

_

that’s 65 people we helped find or stay in employment!

_

288 attendances at employment & education sessions –

705 attendances at community & engagement events and sessions –

10 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

strateGIc rePort

We were able to support 47 residents during the year who had No Recourse to Public Funds (NRPF), a group who are particularly vulnerable and make up a significant proportion of people experiencing rough sleeping in London.

72% of our residents were rough sleeping before coming to us.

We are proud to have a had a significant impact in reducing local rough sleeping this year for 255 people. This figure has risen dramatically since last year and has more than doubled in 12 months.

we supported 157 of our residents to move on positively, representing 45% of our residents!

The number of residents with complex support needs has risen from 77% to 85% in the last year, representing support for 299 residents in the year, who had one or more complex needs (issues with substance misuse, mental health, and physical health).

Feedback

At the point of leaving our services, 89% of residents moving on positively rated our support quality as “Very Good” or “Good” , and 68% 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.

97% of resIdents sustaIned theIr tenancIes Past 3 months. of those, 100% sustaIned theIr tenancIes Past 6 months.

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

trusts and foundatIons

Your Place received grants from the following organisations in the year 2023-2024

29th May 1961 Charitable Trust Alexandra Kelly Anderson Charitable Foundation Aspers Casino Good Causes Fund Barber Charvet Trust Big Give Building Societies Trust Limited Charles S French Charitable Trust Charlotte Marshall Charitable Trust City Bridge Foundation Clifford Chance Foundation Clothworkers Foundation Coco Joelle Foundation CRASH DWP Flexible Support Fund Grant Edward Gostling Foundation French Huguenot Church of London Charitable Trust Garfield Weston Foundation John Armitage Charitable Trust London Catalyst LBN (Microgrant) LB Newham Community Assembly

Marsh Charitable Trust Nationwide Community Foundation National Lottery Community Fund NBC Universal People Powered Places PF Charitable Trust Portal Trust Royal Docks Trust Sainsburys Helping Everyone Eat Better Community Grant Fund Schroder Foundation Sir Harold Hood’s Charitable Trust St Martin in the Field Vicar’s Relief Fund The Albert Hunt Trust The Albert Gubay Foundation The Augustine Court Auld Trust The Borrows Charitable Trust The Charitable Committee of The Vintner’s Company The Hobson Charity The J A Rose Trust The Poor Fund of the Worshipful Company of Fan Makers The Rank Foundation The Sisters of The Holy Cross Charitable Trust Trust for London White Oak Charitable Trust

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

awards

We are delighted that our impact was recognised by winning:

sustaInabILIty

Your Place recognises that our work may have a direct or indirect effect on the local, regional and global environment.

We are committed to reducing any harmful effects on the environment and promoting the understanding of sustainability in its broadest context.

In addition to adhering to all relevant environmental legislation and regulations as an organisation, we are committed to making a positive contribution to the protection of our environment, ensuring that we are actively reducing any harmful effects we have on the environment and promoting sustainability in its broadest context.

This is important to us and the wider borough we operate in, as Newham Council has declared a climate emergency and introduced measures to tackle global warming, poor air quality and waste.

Your Place was also shortlisted at the following awards:

Thanks to a successful funding application to Kew Gardens, our internal Green Project is working with our residents, keen to learn about UK native plants and make Anchor House a greener place to live. We are also looking towards funding for more efficient energy across the site, ensuring that our energy footprint is as low as possible. Our policies, and the ways in which they are working in practice, will be reviewed at each monthly Green Project meeting.

During the year, we have also been active in supporting sector campaigns calling for the government to protect those with No Recourse to Public Funds (NRPF), to ensure that sleeping rough is no longer a legal ground to remove someone from the UK, to repeal the Vagrancy Act and to protect homelessness services facing cuts and costing of living pressures via the #KeepOurDoorsOpen campaign.

Your Place do a good job of “ reminding women that we are not alone. SHANNAN ”

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Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL revIew

Financial review for the year

During the year the Charity received income of £5,314K (2023: £5,304K) and incurred expenditure of £4,764K (2023: £5,534K), resulting in a surplus of £549K (2023: deficit of £230K), which is made up of a surplus of £116K on restricted funds and a surplus of £433K on unrestricted funds.

The surplus on restricted funds includes capital grants of £112K. These grants were spent on capital expenditure and included in the fixed assets.

The overall income for the year increased only by £9K (0.18%) from previous year’s income. Although there was an increase in Housing Benefit for the units in Anchor house in April 2023, this was offset by loss of income following the ending of IRSSS (Integrated Rough Sleeper Support Services) contracts in August 2023.

The decrease in expenditure from the previous year was £769K (14%), mainly due to the ending of IRSSS in August 2023 and the subsequent implementation of financial recovery plans, including the restructure of some of the departments, to reduce costs.

Financial review for future periods

Our budget for 2024-25 shows a surplus of £136K. In line with our strategic plan, we continue to seek to expand our services. Currently, in addition to London Borough of Newham, we are working with other local authorities to deliver intensive support services to more residents.

From April 2025 we will be delivering a new support service to 23 residents in Anchor House through Single Homelessness Accommodation Programme (SHAP). This will support rough sleepers from across the capital with long term accommodation and support. To this end, we have already secured both capital grant and revenue grant from GLA for this programme. The capital grant amounts to £829K, which will be used in the refurbishment of the existing 25 move-on flats, to convert them for use for this new service.

The total development cost is £956K inclusive of VAT. We have also secured a loan and a grant from Thrive together for the additional funding required to complete this refurbishment programme. The revenue grant amounts to £1.9M for three years starting from Feb 2024.

Trustees are pleased to report that at the date of approval of this report the charity has performed well in exceptionally challenging circumstances.

for the fIrst tIme, my dreams seem to “ be achIevabLe. I feeL emPowered, IndePendent and successfuL. DANLEY ”

14 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL revIew

Reserves

At 31 March 2024, unrestricted reserves stood at £10,821K (2023: £10,275K), of which £8,864K is represented by the net book value of fixed assets less outstanding loan finance.

The Trustees have also acknowledged that the charity is largely reliant on reserves for future growth and expansion and have agreed that the charity should be able to use part of the reserves for this purpose if needed provided that this does not impact the existing operations and that realistic strategies are in place to replenish them.

Of the balance of £1,957K, £1,059K has been set aside for a cyclical programme of major repairs, £131K for residents’ furniture and equipment and £46K to cover grant cessations, and the remaining £720K is held in general reserves. The Trustees have the authority to make these funds available for other purposes if required.

The Trustees have reviewed the reserves of the charity taking into consideration future activities, uncertainties, and risks and have concluded that the appropriate level of reserves required is in the range of £1.2M to £1.5M.

We will continue our efforts to build these reserves over the next few years from £720K (2023: £276K) 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 2024-25 and the forecast for the year and are confident that the charity will continue to be able to build towards the required level of financial reserves.

The Board of Trustees has set aside:

Major Repairs Fund £1,059K (2023: £909K)

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.

Residents Furniture & Equipment Fund £131K (2023: £43K)

To replace residents’ furniture and equipment both in their rooms and in communal areas.

Fixed Assets Fund of £8,865K (2023: £9,001K) is intended to represent the net book value of unrestricted tangible fixed assets, less the outstanding loan finance raised to facilitate the acquisition and development of capital improvements.

15 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

PLans for future years

This was the third year of our five-year Strategic Plan for the period April 2021 to March 2026. This plan sets out an ambitious roadmap around five key goals. By March 2026, we will:

1. Provide additional specialist supported housing

2. Offer an expanded range of complementary services

3. Be a sustainable organisation

4. Be a great place to work

5. Be a trusted voice in the community and sector

Offer an expanded range of complementary services

Significant progress has been made in Goal 2 , with our gender informed women’s work, which is now gaining national recognition. We have also continued to support a significant number of particularly vulnerable people with No Recourse to Public Funds during the year, and those who have come to us following sleeping rough, including those coming off the streets as a direct result of a period of severe weather.

Provide additional specialist supported housing

Having made significant progress in delivering Goal 1 with the development of our award winning Hope Street service and the four services for people sleeping rough which we ran in partnership with CGL between 2021 and 2023, we are now focused on developing quality accommodation move on housing for our people experiencing homelessness.

We were pleased that during the year we were awarded funding from both the GLA and Social Investment Business to develop a new specialist supported housing service providing long term accommodation and support for people who have slept rough from across London. This service is due to open in Spring 2025 and building work is already underway.

In this year, we have extended the range of organisations who deliver outreach support services to our clients on site in our services, and we are delighted that we now host an extensive range of specialist organisations throughout the week, delivering support across a wide range of areas including health testing, debt and money advice, English for speakers of other languages, fitness, and art. We complement these outreach sessions with sessions we deliver which have also expanded in the year to include cookery and gardening sessions. We have also focused on developing and embedding our trauma informed practice across the organisation, rolling out extensive training to our teams.

16 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

PLans for future years

Be a sustainable organisation

In Goal 3 , we have continued to make great progress in upgrading our facilities, with a large refurbishment of our reception, foyer, Customer Services offices, toilet facilities and staff kitchen taking place.

The refurbished area is a bright, functional and transformed space for welcoming residents and visitors alike to our service and the improvements have been welcomed by all. We worked hard in the year to improve our financial position and we were pleased to achieve a small surplus, in line with our budget and our strategic plan. We began to replenish our reserves which were depleting with the challenges following the pandemic and the Cost-of-Living crisis.

We continue to be fortunate to receive support from many generous donors, who donated £702,000 income through grants and donations in the year.

Be a great place to work

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 volunteers who can bring their dynamism, professionalism, energy and tenacity to help us achieve great outcomes together. Our focus this year has been on developing our culture, based on our values of compassion, inclusion growth and collaboration. We have also focused on employee wellbeing, and learning and development, with some of our team undertaking accredited professional training programmes for the first time with our support.

Be a trusted voice in the community and sector

For Goal 5 , we have been delighted with how positively received our new brand has been, and we have worked hard to give our residents a platform alongside us to share their stories and views, putting our residents at the heart of our work and our communications about them.

We have continued to support campaign work across our sector which will give our residents and those experiencing homelessness a better deal. Our impact work has helped to evidence particularly high levels of refugees and people seeking asylum amongst those we support, and we are using this insight to seek funding to develop our work to best support this group. Our Chief Executive has continued to Co-Chair the Newham Homelessness Forum and Chair to the National Advisory Council on behalf of Homeless Link.

We continue to work with our partners 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 join us in solving some of society’s 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.

17 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

rIsK manaGement

The Trustees have examined the financial and operational risks which the charity faces and confirm that systems, controls and review procedures have been established to mitigate exposure to these risks.

The charity has a live Risk Register, which has been updated regularly during the year and reformatted to include a risk map, and each of the Charity’s Sub-Committees 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:

Failure to secure appropriate funding from trusts and foundations, statutory or individual donors. Inability to secure voluntary income will lead to a loss of revenue, impacting on our bottom line and reserves. Your Place has a budget process in place to clearly identify funding requirements for each service and we are setting achievable targets. Monthly accounting and forecasting processes are in place to monitor for performance and decision-making, alongside an experienced fundraising team to generate and grow our fundraised income.

Your Place enjoys a strong track record of fundraising. Systems are in place, including scenario planning, to identify risks, impacts and increased costs. We are monitoring shortfalls and taking appropriate actions to sustain services dependent on fundraising income. We are also creating reserves where appropriate, ensuring our continuity of service.

London Borough of Newham (LBN) contracts

Our two formal contracts with LBN, which have previously been extended in term, ended on 31st March 2024. During regular meetings with LBN, Your Place has received reassurance that cabinet approval is in place for a further agreed extension for the current financial year (April 2024 – March 2025), however this has not been formalised with cabinet approval and signed contracts yet.

During the April 2024 – March 2025 financial year a tender process will be initiated for all supported housing contracts in the borough, due to regulatory requirements. There is a risk of failing to secure the contract but also an opportunity whereby Your Place can tender for other services.

Staff wellbeing

In a challenging year, the physical and emotional wellbeing of staff has faced pressures, that directly affect our frontline staff and generate a wider impact on all colleagues. Risks faced include increased absences, a legal duty of care to staff, as well as a broader impact on culture and contribution.

We recently implemented new clinical supervision and reflective practice, while also reviewing policies and refreshing our clinical supervision. Trained managers are in place to support colleagues, while our People Team are managing wellness checks, providing a safe and confidential space and also managing our Employee Assistance Programme. Team members can also take a wellbeing day if required. Our People Team are developing further support in the case of trauma experienced by colleagues in future.

Lack of Private Rented Sector (PRS) move on – London housing crisis

The housing crisis has left the sector with a slow rate of move-on, meaning residents are waiting longer than previously once they are ready for independent living.

This also presents greater pressures on Your Place. The slow rate of move-on reduces throughput and creates contract performance “holdbacks”. We also have limited links with PRS landlords. Our Senior Management Team have agreed to allocate further resources to develop a PRS Officer role. We are working with Greater Change to create personalised budget funding to support move on costs for our residents, such as deposits, rent in advance and furnishing costs.

18 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

statement of trustees’ resPonsIbILItIes

The Trustees (who are also directors of Your Place for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that year. In preparing these financial statements, the Trustees are required to:

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 also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the Trustees is aware at the time the report is approved:

Statement of Board of Trustees on Internal financial controls

The Board of Trustees acknowledge its overall responsibility for establishing and maintaining the whole system of internal controls and reviewing its effectiveness. The system of internal control is designed to manage, rather than eliminate, the risk of failure to achieve business objectives, and to provide reasonable assurance against material misstatements or loss. The process for identifying, 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 assurance include:

The key areas cover control, information reporting systems, monitoring and risk management.

19 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

statement of trustees’ resPonsIbILItIes

Control

Monitoring

The Board of Trustees retains responsibility for defined range of areas covering strategic, operational, and financial elements. The Board of Trustees has put in place an organisational structure which clearly defines lines of responsibility and delegation of authority.

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 actions are taken in relation to any significant control issues and the recommendations of our consultant internal auditor.

Information Reporting System

Risk Management

Financial reporting systems include regular reviews of overall financial business plans, preparation of detailed annul budgets and the production of detailed monthly 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.

The charity has a comprehensive risk management strategy which identifies risks 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 17 September 2024

I Got a Lot of suPPort; how to Get “ Into worK, how to Get bacK to LIvInG aGaIn, how to communIcate wIth dIfferent PeoPLe; they teach us a Lot. AHMED”

Simon Hall

Chair & Trustee

20 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

I want to be abLeto heLP PeoPLe, “ beInG here Just InsPIres me even more to fuLfIL that dream. MARY ” 21 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

Opinion

We have audited the financial statements of Your Place (London) Limited for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the 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 doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

22 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

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

Responsibilities of Trustees for the financial statements

As explained more fully in the Trustees’ responsibilities statement set out on page 19, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to social housing, safeguarding, fundraising, 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 regulations that 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 Act 2006 and the Charities Act 2011, and considered other factors such as income tax, payroll tax and sales tax.

23 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included:

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an 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.

Lee Stokes

(Senior Statutory Auditor) 30 September 2024

For and on behalf of Haysmacintyre LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG

24 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL statements

CONTENTS

26 STATEMENT OF FINANCIAL ACTIVITIES 27 bALANCE ShEET 28 STATEMENT OF CAShFLOWS 29 NOTES TO ThE FINANCIAL STATEMENTS

25

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted statement of fInancIaL actIvItIes (IncorPoratInG the Income and eXPendIture account) for the year ended 31 march 2024

Unrestricted funds Restricted funds Total Funds Total Funds
2024 2024 2024 2023
Notes £ £ £ £
INCOME FROM
Donations, grants and legacies 2a 264,518 437,055 701,573 665,880
Charitable activity 2b 4,567,082 - 4,567,082 4,612,112
Other trading activities:
Rent receivable 19,858 - 19,858 21,108
Investment Income 25,192 - 25,192 5,195
TOTAL INCOME 4,876,650 437,055 5,313,705 5,304,295
EXPENDITURE ON
Cost of raising funds 4 218,517 - 218,517 244,883
Charitable activity 5 4,224,855 321,097 4,545,952 5,288,993
TOTAL EXPENDITURE 4,443,372 321,097 4,764,469 5,533,876
Net income/(expenditure) 433,278 115,958 549,236 (229,581)
Transfer between funds 112,400 (112,400) - -
NET MOVEMENT IN FUNDS 545,678 3,558 549,236 (229,581)
TOTAL FUNDS BROUGHT FORWARD 10,275,116 37,670 10,312,786 10,542,367
TOTAL FUNDS CARRIED FORWARD 10,820,794 41,228 10,862,022 10,312,786

The notes on pages 29 to 40 form part of these financial statements. All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities. Details of comparative figures are given in note 21.

26

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted baLance sheet as at 31 march 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible fixed assets 9 10,845,064 11,086,564
10,845,064 11,086,564
CURRENT ASSETS
Stocks 11 4,835 5,086
Debtors 12 362,961 836,674
Cash at bank and on deposit 2,353,976 1,251,955
2,721,772 2,093,715
CREDITORS: amounts falling due within one year 13 (816,419) (887,134)
NET CURRENT ASSETS 1,905,353 1,206,581
CREDITORS: amounts falling due after one year 14 (1,888,395) (1,980,359)
NET ASSETS 10,862,022 10,312,786
REPRESENTED BY
Unrestricted Funds
- General 16 719,771 275,878
- Designated 16 10,101,023 9,999,238
Restricted Funds 17 41,228 37,670
10,862,022 10,312,786

The financial statements were approved and authorised for issue by the Board of Trustees on 17 September 2024 and were signed on its behalf by:

Simon Hall

Trustee

The notes on pages 29 to 40 form part of these financial statements. Company registration number: 08075329 (England and Wales)

27

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted statement of cash fLows as at 31 march 2024

CASH FLOW STATEMENT
Cash flows from operating activities:
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash (used in) investing activities
Cash flows from financing activities:
Repayment of borrowing
Net Cash provided in financing activities
Change in cash and cash equivalents in the reporting year
Cash and cash equivalents at the beginning of the reporting year
Cash and cash equivalents at the end of the reporting year
Reconciliation of net income to net cash flow from operating activities
Net income/(expenditure) for the reporting year
(as per the statement of financial activities)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease in stocks
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Movement in net debt
Cash and cash equivalents
Loans due within one year
Loans due after one year		 2024
2023
£
£
£
£
1,331,965
(140,986)
45,050
26,303
(169,196)
(325,016)
(124,146)
(298,713)
(105,798)
(100,926)
(105,798)
(100,926)
1,102,021
(540,625)

1,251,955
1,792,580
2,353,976
1,251,955
2024
2023
£
£
549,236
(229,581)
410,695
394,738
(45,050)
(26,303)
252
237
473,713
(319,577)
(56,881)
39,500
1,331,965
(140,986)
2024
2023
£
£
2,353,976
1,251,955
2,353,976
1,251,955
1 April 2023
Cashflows
31 March 2024
£
£
£
1,251,955
1,102,021
2,353,976
(105,554)
13,834
(91,720)
(1,980,359)
91,964
(1,888,395)		 2024
2023
£
£
£
1,331,965
(140,986)
26,303
(325,016)
(124,146)
(298,713)
(100,926)
(105,798)
(100,926)
1,102,021
(540,625)
1,251,955
1,792,580
2,353,976
1,251,955
2024
2023
£
£
549,236
(229,581)
410,695
394,738
(45,050)
(26,303)
252
237
473,713
(319,577)
(56,881)
39,500
1,331,965
(140,986)
2024
2023
£
£
2,353,976
1,251,955
2,353,976
1,251,955
(833,958)
1,207,819
373,861

28

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

1 Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS102), Statement of Recommended Practice for registered Social Housing Providers 2008, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Your Place (London) Limited meets the definition of a public benefit entity under FRS 102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Having reviewed the funding facilities available to the charity together with future projected cash flows covering a 12-month period from the approval of the financial statements, the Trustees have an expectation that the charity has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the charity’s financial viability. Accordingly, the financial statements have been prepared on a going concern basis.

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. Judgements made by the Trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets and are discussed below.

In the view of the Trustees, no assumptions concerning the future or estimation of uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

(c) Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand 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 provisions.

Income from charitable activities represent receipts from residential accommodation, 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 so. 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.

Expenditure

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 external audit, legal and professional advice and all costs of complying with constitutional and statutory requirements, such as the costs of Trustees’ meetings and of preparing statutory financial statements and satisfying public accountability.

29

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

(f) Tangible fixed assets

The property is freehold, 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 asset brought into use.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets other than freehold land and assets under construction (AUC) over their estimated economic lives.

Using component costing principles freehold property is divided into components which are depreciated over the following years:

Building structure 60 years Windows, bathrooms and flooring 15 years Heating and electricity systems 15 years to 30 years, as appropriate Kitchen 20 years Lift 10 years

In the previous year the lift was depreciated based on a useful life of 30 years. From April 2023 the useful life has been changed to 10 years. All PCs and laptops regardless of their values and other tangible fixed assets exceeding £1,000 are stated at cost net of depreciation. Depreciation is calculated at the following annual rates:

Fixtures, fittings and equipment 10-33% straight line, as appropriate Motor vehicles 25% straight line

Investments are stated at their middle market values ruling at the balance sheet date. The realised and unrealised gains and losses on investments are calculated based on the opening market values and are accounted for within the Statement of Financial Activities.

Income arising from these investments is accounted for when it is receivable.

Stocks are shown at lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.

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 cash in hand includes cash and short term highly liquid investments.

Creditors and provisions are recognised where the charity has a present obligation resulting from a 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.

The Trustees may set aside amounts of unrestricted funds, at their discretion, for specific future purposes. Such funds are shown within unrestricted funds as designated funds. Where the Trustees decide that designated funds are no longer required for the purposes specified, these are released from designated 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.

As a registered charity, YP 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 items to which it relates.

30

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

2a Income from donations and grants
INCOME FROM DONATIONS: Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Donations 85,618 25,074 110,692 142,220
Donation in kind - 17,558 17,558 3,756
85,618 42,632 128,250 145,976
INCOME FROM GRANTS: Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
29th May 1961 Charitable Trust - 3,000 3,000 3,000
Alexandra Kelly - - - 1,000
Anderson Charitable Foundation - 7,106 7,106 -
Aspers Casino Good Causes Fund - - - 1,462
Barber Charvet Trust 15,000 - 15,000 15,000
Big Give - 7,500 7,500 -
Building Societies Trust Limited - 25,872 25,872 25,000
Charles S French Charitable Trust - - - 2,500
Charlotte Marshall Charitable Trust 2,000 - 2,000 1,800
Clifford Chance Foundation - - - 5,050
Clothworkers Foundation - - - 55,000
City Bridge Foundation - 50,000 50,000 50,000
Coco Joelle Foundation - - - 75,000
CRASH - 4,500 4,500 -
DWP Flexible Support Fund Grant - - - 37,977
Edward Gostling Foundation - - - 25,000
French Huguenot Church of London Charitable Trust - 6,000 6,000 -
Garfield Weston Foundation 25,000 - 25,000 25,000
John Armitage Charitable Trust 35,000 - 35,000 20,000
LB Newham Community Assembly - 10,000 10,000 10,000
LBN (Microgrant) - 500 500 -
PF Charitable Trust 2,000 - 2,000 -
London Catalyst - 1,000 1,000 -
National Lottery Community Fund 75,000 74,262 149,262 33,275
Nationwide Community Foundation - 33,333 33,333 16,667
NBC Universal - - - 3,000
Marsh Charitable Trust 900 - 900 800
People Powered Places - 10,000 10,000 -
Portal Trust - - - 19,999
Royal Docks Trust - - - 10,000
Sainsburys Helping Everyone Eat Better Community Grant Fund - - - 1,500
Schroder Foundation - - - 5,000
Sir Harold Hood’s Charitable Trust 1,000 - 1,000 -
St Martin in the Field Vicar’s Relief Fund - - - 199

31

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
The Albert Gubay Foundation - 100,000 100,000 -
The Albert Hunt Trust 7,000 - 7,000 7,000
The Augustine Court Auld Trust - - - 750
The Borrows Charitable Trust 5,000 - 5,000 5,000
The Charitable Committee of The Vintner’s Company - - - 5,000
The Hobson Charity - 10,000 10,000 -
The J A Rose Trust 5,000 - 5,000 5,000
The Poor Fund of the Worshipful Company of Fan Makers 5,000 - 5,000 3,750
The Rank Foundation - 3,500 3,500 -
The Sisters of The Holy Cross Charitable Trust - - - 20,000
Trust for London - 47,850 47,850 30,175
White Oak Charitable Trust 1,000 - 1,000 -
178,900 394,423 573,323 519.904
Total donations, grants and legacies 264,518 437,055 701,573 665,880

2b Income from charitable activities

Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Accommodation 3,786,213 - 3,786,213 3,355,439
Housing Related Support 567,594 - 567,594 1,001,972
Rough Sleepers Initiative 161,704 - 161,704 224,140
Sundry income 45,669 - 45,669 25,425
Laundry income 5,902 - 5,902 5,136
4,567,082 - 4,567,082 4,612,112

All income in 2024 and 2023 was unrestricted.

3 Social housing lettings

3 Social housing lettings
2024 2023
£ £
Rent receivable excluding service charges 1,514,485 1,485,117
Service charge receivable 2,271,728 1,870,322
Grants and other income 1,376,026 1,851,164
Turnover from social housing lettings 5,162,239 5,206,603
Operating expenditure on social housing lettings 4,696,186 5,378,379
Operating surplus/(deficit) on social housing lettings 466,053 (171,776)
Financing costs (57,968) (62,672)
Surplus/(deficit) on social housing lettings 408,085 (234,448)
Void losses 190,115 360,839

32

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

4 Cost of raising funds

4 Cost of raising funds
2024 2023
£ £
Staff costs 144,580 139,180
Other direct costs 27,614 36,376
Support costs 46,323 69,327
218,517 244,883
5 Charitable activities
Total Total
Staff Other Direct Support 2024 2023
Costs Costs Costs Costs Costs
£ £ £ £ £
Anchor House 1,776,306 1,425,863 725,359 3,927,528 3,775,641
Integrated Rough Sleeping Support 347,003 148,332 123,089 618,424 1,513,352
Services (IRSSS)
2,123,309 1,574,195 848,448 4,545,952 5,288,993

6 Support costs allocation to activities

Total Total
Fundraising Anchor House IRSSS 2024 2023
£ £ £ £ £
Staff costs 42,314 519,866 101,556 663,736 640,871
Staff training and recruitment 786 40,357 4,229 45,372 127,869
Office expenses 2,094 107,305 11,244 120,643 163,437
Legal and professional fees 586 30,033 3,147 33,766 26,822
Other costs 543 27,797 2,913 31,253 4,159
46,323 725,358 123,089 894,770 963,158

Support costs have been allocated to activities based in number of people employed within each activity.

7 Governance Costs

7 Governance Costs
2024 2023
£ £
Staff costs 57,094 55,438
Auditors’ remuneration - Audit fee 24,382 18,400
Legal and professional fees 7,924 3,023
Trustee expenses 104 3,328
89,504 80,189

The Trustees received no remuneration (2023: £Nil).

Expenses relating to travel and training were reimbursed or paid to third parties on behalf of Trustees. These amounted to £104 (2023: £3,328).

33

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

8 Staff costs

8 Staff costs
2024 2023
£ £
Salaries 2,068,778 2,183,046
Social security costs 207,622 222,090
Pension 114,693 128,961
Termination payment - 2,000
Casual workers 540,532 844,498
2,931,625 3,380,595

The average number of staff in the year was 65 (2023: 88): calculated on a full-time equivalent basis, the figure was 62 (2023: 86 (including casual workers)). The number of employees with annual taxable emoluments paid more than £60,000 per annum was:

2024 2023
£60,000 - £69,999 3 3
£70,000 - £79,999 - -
£90,000 - £100,999 1 1

The total remuneration of key management personnel for the year was £303,421 (2023 – £310,172). Included in the above were payments to the Chief Executive, being the highest paid employee, amounting to £96,200 for the year excluding pension contribution (2023: £92,500). The Chief Executive is a member of the Charity’s defined contribution pension scheme. The charity contributes 7.5% of the salary to the Chief Executive’s pension, and the Chief Executive contributes the same percentage of her salary.

9 Tangible fixed assets

9 Tangible fixed assets
Freehold Land Motor Furniture &
and Buildings Vehicles Equipment Brand AUC Total
Costs £ £ £ £ £ £
At 1 April 2023 13,185,216 35,284 532,615 81,500 - 13,834,615
Additions 108,262 - 18,054 - 42.880 169,196
Eliminated on disposal (64,000) (8,884) - - - (72,884)
At 31 March 2024 13,229,478 26,400 550,669 81,500 42,880 13,930,927
Depreciation
At 1 April 2023 2,451,077 14,164 274,661 8,150 - 2,748,052
Charge in the year 307,468 5,280 81,647 16,300 - 410,695
Eliminated on disposal (64,000) (8,884) - - - (72,884)
At 31 March 2024 2,694,545 10,560 356,308 24,450 - 3,085,863
Net book value
As at 31 March 2024 10,534,933 15,840 194,361 57,050 42,880 10,845,064
As at 31 March 2023 10,734,139 21,120 257,955 73,350 - 11,086,564

34

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

10 Investments

The charity owned 100% share capital of a subsidiary company, The Learning and Development Academy Ltd, which was dissolved on 2 April 2024.

11 Stocks

11 Stocks
2024 2023
£ £
Consumables 4,835 5,086
4,835 5,086
12 Debtors
2024 2023
£ £
Trade debtors 263,386 667,464
Prepayments 87,300 113,160
Other debtors 12,275 56,050
362,961 836,674
13 Creditors - Amounts falling due within one year
2024 2023
£ £
Bank loans (note 15) 91,720 105,554
Trade creditors 114,215 271,855
Accruals 252,613 258,402
Social security and other taxes 48,719 47,919
Pension fund 15,712 19,532
Other creditors 293,440 183,872
816,419 887,134
14 Creditors - Amounts falling due outside one year
2024 2023
£ £
Bank loans (note 15) 1,888,395 1,980,359

35

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

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 £120,000 from Homeless Link for the Hope Street project during the financial year 2020-21. This is an unsecured loan and is repayable over 42 months, ending on 1 October 2024. The applicable rate of interest is 8% fixed rate.

8% fixed rate.
2024 2023
£ £
Repayments are due as follows
Within 1 year 91,720 105,554
Between 2-5 years 283,117 301,136
Over 5 years 1,605,278 1,679,223
1,980,115 2,085,913
16 Unrestricted Funds
Reduction
At 1 April Income in long term At 31 March
2023 and Gains Expenditure Transfers Loans 2024
£ £ £ £ £ £
General 275,878 4,876,650 (4,443,372) 116,413 (105,796) 719,771
Designated funds:
Fixed Assets 9,000,651 - - (241,499) 105,796 8,864,950
Post Grant Continuity 46,427 - - - - 46,427
Major repair Fund 909,394 - - 149,581 - 1,058,975
Residents Furniture & Equipment 42,766 - - 87,905 - 130,671
(renewals & replacements)
10,275,116 4,876,650 (4,443,372) 112,400 - 10,820,794

The Fixed Assets Designated Fund represents the net book value of unrestricted tangible fixed assets less the outstanding balance of the long-term Property Loan. Each year amounts are transferred to or from the Fixed Asset Fund, representing the movement in the net book value of the unrestricted tangible fixed assets in the year and the reduction in the long-term loan, as capital is repaid.

The Post Grant Continuity Fund represents money set aside to cover costs incurred where funding has ceased.

The Major Repairs Fund represents money set aside to cover major repairs on Anchor House building. Every year an amount is allocated to each component (windows, bathrooms, flooring, heating and electricity systems, lift, and kitchen) based on their useful economic life and estimated replacement costs.

The Residents Furniture & Equipment Fund represents money set aside to replace residents’ furniture and equipment both in their rooms and in the communal area.

36 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Reduction
At 1 April Income in long term At 31 March
2022 and Gains Expenditure Transfers Loans 2023
£ £ £ £ £ £
General 484,452 4,844,332 (5,073,583) 121,603 (100,926) 275,878
Designated funds:
Fixed Assets 8,969,447 - - (69,722) 100,926 9,000,651
Post Grant Continuity 50,000 - - (3,573) - 46,427
Contingency Fund 30,000 - - (30,000) - -
Major repair Fund 776,058 - - 133,336 - 909,394
Residents Furniture & Equipment - - - 42,766 - 42,766
(renewals & replacements)
Access control 194,410 - -
 (194,410) - -
10,504,367 4,844,332 (5,073,583) - - 10,275,116
17 Restricted Funds
At 1 April At 1 March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
Personal Development - 52,876 (72,876) 20,000 -
Community Partnership - 97,153 (97,153) - -
Move-on 20,000 35,872 (10,000) (20,000) 25,872
Donation in kind - 17,558 (11,158) (6,400) -
Capital fund 17,670 114,000 (10,314) (106,000) 15,356
Staff Social Committee - 2,000 (2,000) - -
Women’s Development Service - 107,596 (107,596) - -
Gardening - 2,000 (2,000) - -
Cost of Living - 3,500 (3,500) - -
Remedial Survey (Hope Street) - 4,500 (4,500) - -
37,670 437,055 (321,097) (112,400) 41,228

The transfers represent the capital expenditure in the year.

Personal Development

This fund supports our vulnerable residents with high levels of isolation, low self-esteem and complex challenges on their journey back to independent living through structured personal development and social activities.

Community Partnership

This fund supports our residents with education, training and employment opportunities. Learning new skills helps our residents to improve their self-esteem and gain experience so that they can re-enter the workforce.

Move-on

This fund supports our tenancy sustainability service, allowing us to assist single homes residents to access independent accommodation.

Staff Social Welfare

This fund represents the amount of donations received during the year to meet staff social welfare costs.

37

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Donation in Kind

This fund represents the value of furniture, other items and services donated by various organisations during the year.

Capital Fund

This is a restricted fund to be used on YP’s wider capital programme.

Women’s Development Service

This fund supports specialist accommodation-based support to women across the charity.

Gardening

This fund supports gardening activities across the charity.

Cost of Living

This fund supports increase in transport costs as a result of inflation.

Remedial Survey

This fund supports undertaking inspections of flats in the Hope Street project.

At 1 April At 31 March
2022 Income Expenditure Transfers 2023
£ £ £ £ £
Personal Development - 64,097 (64,097) - -
Education, Training and employment - 215,217 (215,217) - -
Move-on 20,000 27,756 (27,756) - 20,000
Donation in kind - 3,756 (3,756) - -
Capital fund 18,000 92,496 (92,826) - 17,670
Assessment Hub - 5,000 (5,000) - -
Food Transport - 1,500 (1,500) - -
Women Co-ordinator - 50,141 (50,141) - -
Service - - - - -
38,000 459,963 (460,293) - 37,670

38

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

18 Analysis of net assets between funds

Unrestricted Designated Restricted Total
Funds Funds Funds 2024
31 March 2024 £ £ £ £
Fixed assets - 10,845,064 - 10,845,064
Current assets 1,444,470 1,236,074 41,228 2,721,772
Current liabilities (724,699) (91,720) - (816,419)
Long term liabilities - (1,888,395) - (1,888,395)
Total net assets 719,771 10,101,023 41,228 10,862,022
Unrestricted Designated Restricted Total
Funds Funds Funds 2023
31 March 2023 £ £ £ £
Fixed assets - 11,086,564 - 11,086,564
Current assets 1,057,458 998,587 37,670 2,093,715
Current liabilities (781,580) (105,554) - (887,134)
Long term liabilities - (1,980,359) - (1,980,359)
Total net assets 275,878 9,999,238 37,670 10,312,786

19 Capital commitments

19 Capital commitments
2024 2023
£ £
Refurbishment - 108,022
Single Homelessness Accommodation Programme 955,600 -
955,600 108,022

20 Leasing commitments

The charity’s future minimum operating lease payments are as follows:

2024 2023
£ £
Within one year 6,619 11,151
Between one and five years 9,008 8,539
15,627 19,690

The telephone system and photo copier are held under operating lease arrangements.

39

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

21 Detailed statement of financial activities
for the year ended 31 March 2023
Unrestricted funds Restricted funds Total Funds
2023 2023 2023
Notes £ £ £
INCOME FROM
Donations, grants and legacies 2a 205,917 459,613 665,880
Charitable activity:
Anchor House 2b 4,612,112 - 4,612,112
Other trading activities:
Rent receivable 21,108 - 21,108
Investment Income 5,195 - 5,195
TOTAL INCOME 4,844,332 459,613 5,304,295
EXPENDITURE ON
Cost of raising funds 4 244,883 - 244,883
Charitable activity:
Anchor House 5 4,828,700 460,293 5,288,993
TOTAL EXPENDITURE 5,073,583 460,293 5,533,876
Net (expenditure) (229,251) (330) (229,581)
NET MOVEMENT IN FUNDS (229,251) (330) (229,581)
TOTAL FUNDS BROUGHT FORWARD 10,504,367 38,000 10,542,367
TOTAL FUNDS CARRIED FORWARD 10,275,116 37,670 10,312,786

40

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

TAL f &vy J ALn r. n4 _ tsJ e f YP ￿{￿ ' alkayg s ol wJ¥ 12 J r¢&7 ppJAe l oJ¢ li¢vi ¥ - cdlla ia SLwrtTY tytrc￿ ius) fol 4) Sryo ' l¢Y tL4ln jLYrt• a shil rb o o1o1tr,ara Yfto bKI _hnne , cf U3 q tLLI 7N¢7A itOII r￿¥Y￿. I ￿zAs at IrYQJCtfvI slvp • ￿le . I y(¢, Imriv res t bQin OL4w V JknLf P tr7t in Irxqry*S £, aoc

“for the fIrst tIme, my dreams seem to be achIevabLe. I feeL emPowered, IndePendent and successfuL. DANLEY ” contact us Your Place at Anchor House

81 Barking Road London E16 4HB

020 7476 6062

hello@your-place.org.uk

www.your-place.org.uk

Find us on: LinkedIn • X • Facebook • Instagram

Company Registration Number: 08075329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

Company Registration Number: 08075329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841

“ I’ve been so touched by the way that staff have reached out to me. JOSH ”

“a story Is what It’s LIKe to be a human beInG. to be KnocKed down and to mIracuLousLy arIse. each one of us has arIsen, awaKened. we do rIse. MAYA ANGELOU ” CONTENTS 2 A MESSAGE FROM OUR CHIEF EXECUTIVE 4 TRUSTEES’ ANNUAl REpORT 5 AbOUT US 5 OUR VAlUES 6 STRUCTURE, GOVERNANCE ANd MANAGEMENT

7 ObjECTIVES ANd ACTIVITIES

8 METRICS

9 FUNdRAISING

1O STRATEGIC REpORT

12 TRUSTS ANd FOUNdATIONS

13 AwARdS

13 SUSTAINAbIlITy

14 FINANCIAl REVIEw

16 plANS FOR FUTURE yEARS

18 RISk MANAGEMENT

19 STATEMENT OF TRUSTEES’ RESpONSIbIlITIES

22 INdEpENdENT AUdITOR’S REpORT 25 FINANCIAl STATEMENTS

1

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

a messaGe from our chIef eXecutIve

At Your Place, our mission is to solve homelessness one person at a time. Serving a community with the highest rates of homelessness in the UK, we find ourselves in a unique position to understand the unprecedented scale of the issue.

Your Place offers people hope, a home and a sanctuary which heals, growing the lives, opportunities and skills of each resident. This year the nation’s housing crisis has been particularly severe in London. Mental health issues became more widespread, and greater challenges were experienced by people with refugee status in accessing employment and housing.

Understanding these issues, collaborating with others to share best practice, sharing organisational strengths and influence in the sector, bringing meaningful and lasting change for all people experiencing homelessness or rough sleeping, is also at the forefront of our work.

In a post-Covid cost-of-living and rental crisis with record levels of homelessness, Your Place has been proud of the high quality of our services delivered and the people and teamwork that made this possible. Since the cost-of-living crisis began, the community is experiencing a rise in safeguarding issues, more complex mental health issues and greater numbers of people fleeing domestic abuse.

Not only are we experiencing greater numbers of homelessness, we are seeing a greater number of complex and varying needs among residents too. I’m immensely proud of the work of our service teams, the pioneering collaboration of the Women’s Development Team and the resilience we’ve seen with trauma at Your Place. We are seeing tangible developments in people’s lives across the organisation and its residents each day.

A highlight of our year was our Christmas celebration, made special through our corporate partners’ involvement along with some hard work from many in the local community. Your Place is also working hard to create permanent homes for residents, while also the team is working on the process of developing a second site in East London.

Throughout the year, our mission and values have remained key to what we do, compassionately, inclusively, collaboratively growing the charity’s work and the lives of our residents, one person at a time. Without those individuals and organisations that generously fund and support the life-saving work at Your Place, none of this would be possible. For this we are very grateful.

I hope you enjoy reading our report,

Amanda Dubarry Chief Executive

2 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

“thanKs to your PLace, my hoPe for the future was restored, and I found the determInatIon to overcome the obstacLes In my Path. BORYS ” 3 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

trustees’ annuaL rePort

Administration

Sub-Committees

The Trustees present their report and financial statements for the year ending 31 March 2024. The report, which constitutes a Trustees’ report for the purposes of charity legislation and a directors’ report for the purposes of company legislation, has been prepared in accordance with Part VIII of the Charities Act 2011.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charitable company’s Memorandum and Articles of Association, applicable laws, the Companies Act 2006 and the requirements of the Statement of Recommended Practice “Accounting and Reporting by Charities” SORP 2015 (FRS 102) (Second bulletin effective January 2019) and the requirements of the Statement of Recommended Practice (SORP) Accounting by Registered Social Housing Providers.

We have supported the operation of the following Sub-Committees:

  1. Finance, Audit, Governance, and Risk Sub-Committee

  2. People & Culture Sub-Committee

  3. Executive Sub-Committee

  4. Premises Management Sub-Committee

  5. Frontline Services Quality Assurance and Impact Sub-Committee

Principal Address

Your Place Anchor House 81 Barking Road Canning Town London E16 4HB

Constitution

The charitable company is governed by its Memorandum and Articles of Association. The members of the Board of Trustees are the company’s 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

Chair of Trustees Resigned 7 June 2023

Mr Simon Hall Ms Emma Butterworth Ms Laura Curtis Mrs Emer Delaney Mrs Cate Kirkbride Mr Graeme McLean Councillor Joseph Ogundermuren Mr Anil Sharma Mr Charles Abel Smith Mr Kevin Maxwell Mrs Rose Soffel

Appointed 12th December 2023 Appointed 12th March 2024

Auditor

Haysmacintyre LLP, 10 Queen Street Place, London, EC4R lAG

Solicitor

Bates Wells, 10 Queen Street Place, London, EC4R 1BE

Bankers

Barclays, 1 Churchill Place, London E14 5HP NatWest, 1-11 The Broadway, London, E15 4DX

Company Registration Number 08075329 (England and Wales)

Registered Charity Number 1147794

RSH Registration 4841

4 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

about us

Your Place has served the community for over 60 years, providing a safe place and support for people to rebuild their lives.

We are based in the London Borough of Newham which has the highest levels of homelessness in London and has the highest overall levels in the country. We opened at Anchor House over 60 years ago, originally operating as a seaman’s mission. The change to focus on homelessness came following the decline and closure of the docks in the late 1980’s and early 1990’s.

In October 2022 we changed our name from Caritas Anchor House to Your Place, aiming to reflect a more person-centred and inclusive service. Almost two years on from our name change and brand development, Anchor House is still inherently core to our history, identity, our mission, values and objectives, while the Your Place brand is evolving and growing.

Your Place is about focusing on each person and their individual needs as they regain a sense of ownership over their lives. We’re a community of people and services that supports a person’s journey to a better place. Anchor House has been a cornerstone of the community in East London for over half a century.

We can’t end homelessness for everyone, but we can help to solve it one person at a time. Our mission is to build hope, enable lasting change and end homelessness for people in East London. Our values guide our interactions and decisionmaking processes at all levels within the organisation.

I’ve been so touched by the way “ that staff have reached out to me. MARIA”

our vaLues

we care about people, value their views and experiences and put them at the heart of all we do.

Compassion

inClusion we celebrate diversity, promote inclusivity and respect, and challenge inequity.

we support people to breakthrough barriers and fulfil their hopes and potential.

Growth

Collaboration we’re stronger 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 assessment 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 growing number of residents we are now able to support. In the year ended 31st March 2024, we accommodated and separately supported a total of 352 people, helping 157 people to move on positively from our services, leaving homelessness behind them.

theIr beLIef In me heLPed me rebuILd “ myseLf; now I LooK forward and see thInGs wIth a sense of hoPe. KABIR*, FORMER RESIDENT ”

5

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

structure, Governance and manaGement

Your Place is a Registered Charity and Company Limited By Guarantee as well as a Registered Provider 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 Housing.

Our Trustees meet on a quarterly basis to review the performance of the organisation and plan for the future. The professional backgrounds of the Trustees include financial management, housing, business planning, homelessness charity management, equity, diversity & inclusion management, law, risk management, community involvement, marketing, HR and investment banking.

The day-to-day running of the charity is delegated to the Chief Executive and Senior Management Team (SMT). Our SMT is 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 Inkster joined as our Director of People, bringing with her a strong background in the charity sector.

Key management remuneration is set by the Trustees by reference to the degree of seniority and responsibility of the post, by benchmarking against similar roles in charities of similar size and complexity and in the light of performance appraisal.

Trustee recruitment, induction and training

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 Autumn 2023, Mr Kevin Maxwell and Mrs Rose Soffel joined us as Trustees of the charity.

All new Trustees are provided with a trustee induction pack and induction process and are encouraged and supported 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 Programme.

“your PLace Is LIKe a famILy. you never feeL aLone. they motIvate you to KeeP LearnInG, KeeP stayInG, stronG and KeeP movInG towards your GoaLs. BITANIA ”

6 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

obJectIvIes and actIvItIes

Your Place’s objects contained in its Memorandum and Articles of 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 East London and support them to move on and break the cycle of homelessness for good.

Public benefit

We do this by:

Providing a safe place - to make sure that people experiencing homelessness have somewhere safe to stay as they begin to rebuild their lives.

Offering support - to encourage and enable people to build 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 with confidence and be a proactive member of their community outside of and beyond life at Your Place.

Our frontline teams work directly with residents during their time at Your Place. Each resident is assigned a keyworker who will guide them through their stay and supports them to access a holistic service relating to health and wellbeing, education, employability, financial management and securing and sustaining new tenancies.

Residents can participate in training, workshops and activities including money management training, ESOL (English for Speakers of Other Languages), mindfulness sessions, counselling, CV workshops and events. Our goals for our residents are for them to move on from our services with the skills to navigate their next chapter with confidence, and to sustain their accommodation and independence long term.

The Trustees 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 Benefit” in the exercise of their powers and responsibilities as 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 social housing with the Regulator of Social Housing (‘RSH’), 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 Borough of Newham, to ensure that they, as the principal commissioners of our services, feel that they are receiving such value. We regularly review our performance and the way we work to continue developing the impact of services and using resources in the most effective and efficient way.

your PLace Is more than Just a “ roof over my head; It’s a communIty that has GIven me hoPe, suPPort, and a chance to start a new chaPter In my LIfe. ”

HALIMA

7 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

metrIcs

Metric 1 Reinvestment %

This metric looks at the investment in properties (existing stock as well as new supply) as a percentage of the value of total properties held. The percentage reflects major repairs work on the existing properties, including replacing the lifts in 81 Barking Road. The charity’s metric for reinvestment for the year was 1.03% (2023: 1.81%)

The cost per unit for the year was £26,351 (2023: £23,384). The cost reflects the average cost of housing and support services offered to our residents in the year. The support services vary from low to high, including services to people sleeping rough and residents with multiple and complex needs.

Metric 2 New supply delivered %

During the year the charity has delivered nil social housing units. The charity does not have a development programme to deliver new units every year.

Metric 3 Gearing %

The charity’s property, Anchor House, is owned freehold. The charity has two long term loans, one with NatWest, secured against this property, and the other with Homeless Link. The balance outstanding at 31 March 2024 of £1,980K (2023: £2,086K) represents 3.48% (2023:15.23%) of housing depreciated value owned by the charity.

Metric 6 Operating Margin (overall)%

The operating margin of the charity as a whole for the year was 9.03% (2023: -3.30%).

Metric 7 Return on capital employed (ROCE) % This metric compares the operating surplus to total assets less current liabilities. For the charity as whole this was 3.66% for the year (2023: -1.4%).

your PLace wILL aLways be so “ ImPortant for PeoPLe LIKe me who have nowhere to Go – and there are a Lot of PeoPLe In my shoes. BROTHER ”

8

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fundraIsInG

The kindness of our supporters is crucial to our objectives.

Your Place values every supporter and strives to maintain the highest possible standards when fundraising. Registered with the Fundraising Regulator, we are committed to the Fundraising Promise and working in a way that is compliant with the Code of Fundraising Practice. This report covers the requirements that charities must follow as set out in the Charities Act 2016. Our fundraising policy and practices are kept under review and we ensure that our fundraising meets the legal standards required and reflects best practice, so that our donors can support with confidence.

In the last financial year, Your Place continued its focus on securing grants, individual donations and gifts in kind. While we receive statutory funding towards accommodation services, it’s the generosity of our supporters, trusts, foundations and community members that provides for our additional services and the quality of them. Covid and the cost-of-living crisis have changed the landscape and the charity sector is now seeing unprecedented levels of applications to trusts and foundations, some experiencing over a 40% rise in applications. Despite this, we raised £702K income from grants and donations in the year, exceeding targets in a sector with new levels of competition.

Our Trust and Foundation team successfully bid on multi-year unrestricted funding, totalling over £573,000 for the charity.

Additionally, in individual giving from supporters to UK charities, the median gift of £20 has not risen since 2017. Despite this, there have been inflation, rising energy costs and many other challenges facing charities. Individual supporters have faced a continuing cost of living crisis, yet despite this, we met targets and have increased them for this year.

We participated in the Big Give Christmas Challenge 2023, successfully reaching target, raising a total of £34,021 to support residents to move on from our services, living independently. This was made possible by exceptional teamwork and external support. Regular and one-off gifts under £500 raised a total of £32,283 in 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.

Your Place experienced an increase in the number of donors giving to us regularly, an increase in donor contact, while also we ventured into magazine advertising, gaining new donors and a good return on investment.

Your Place are particularly grateful for the foodbank donors including City Harvest, Felix Project, Pret, Sainsburys and the many individual donors who have helped make a difference.

It’s important to us that everyone we interact with feels free from undue influence when they consider donating. We ensure our fundraisers can recognise signs of potential vulnerability and can manage conversations, taking action in the most appropriate way. In 2024 we identified a need to develop supporter care, creating supporter journeys and implementing the brand strategy with new fundraising materials and documents.

We acknowledge that people’s 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 are also signed up to the Fundraising Preference Service to enable individuals to opt out from receiving fundraising communications from us - we received zero requests from this service during the year.

We promise to 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 - performed by ourselves or any third parties - in the year.

We did not work with any professional fundraisers or commercial participators, as defined by the Fundraising Regulator. Should this be something we do in the future, we 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.

9 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

strateGIc rePort

The context in which we work has become ever more challenging over the last few years.

The housing crisis continues to deepen with house prices and rents beyond the reach of many of those living locally. Wages have not kept pace with inflation which has continued to soar, leading to a cost-of-living crisis across the country which is hitting those on low incomes the hardest and impacting on charitable giving.

We ended the year with 155 bed-spaces , making Your Place the largest provider of supported accommodation for people experiencing homelessness in Newham , with Anchor House in Canning Town one of the largest hostel services in the country . We provided seven supported accommodation services in the year:

Our Core Service , providing 121 rooms and flats for those experiencing homelessness with low to medium level support needs.

Our Intensive Support Service (previously called our Complex Needs service), providing 19 rooms for those who have been rough sleeping and have high level support needs.

Our Hope Street Service , providing 15 Move On ‘houses’ for people who have been rough sleeping with low to medium support needs.

The following services were delivered under a fixed term partnership arrangement until August 2023:

Our Direct Access Assessment Hub , providing 14 rooms for people who have been rough sleeping and are coming straight from the streets.

Our Plashet Service , 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 high 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.

Our Community Partnerships team oversee a wide range of additional support services to help our residents to move on from homelessness. This includes our employment support to residents, resident engagement work, and volunteering.

We have been delighted with the outcomes this team has achieved in education, training and employment (ETE).

29% of those who engaged in ete services are in employment (of those eligible to work)

_

that’s 65 people we helped find or stay in employment!

_

288 attendances at employment & education sessions –

705 attendances at community & engagement events and sessions –

10 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

strateGIc rePort

We were able to support 47 residents during the year who had No Recourse to Public Funds (NRPF), a group who are particularly vulnerable and make up a significant proportion of people experiencing rough sleeping in London.

72% of our residents were rough sleeping before coming to us.

We are proud to have a had a significant impact in reducing local rough sleeping this year for 255 people. This figure has risen dramatically since last year and has more than doubled in 12 months.

we supported 157 of our residents to move on positively, representing 45% of our residents!

The number of residents with complex support needs has risen from 77% to 85% in the last year, representing support for 299 residents in the year, who had one or more complex needs (issues with substance misuse, mental health, and physical health).

Feedback

At the point of leaving our services, 89% of residents moving on positively rated our support quality as “Very Good” or “Good” , and 68% 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.

97% of resIdents sustaIned theIr tenancIes Past 3 months. of those, 100% sustaIned theIr tenancIes Past 6 months.

11

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

trusts and foundatIons

Your Place received grants from the following organisations in the year 2023-2024

29th May 1961 Charitable Trust Alexandra Kelly Anderson Charitable Foundation Aspers Casino Good Causes Fund Barber Charvet Trust Big Give Building Societies Trust Limited Charles S French Charitable Trust Charlotte Marshall Charitable Trust City Bridge Foundation Clifford Chance Foundation Clothworkers Foundation Coco Joelle Foundation CRASH DWP Flexible Support Fund Grant Edward Gostling Foundation French Huguenot Church of London Charitable Trust Garfield Weston Foundation John Armitage Charitable Trust London Catalyst LBN (Microgrant) LB Newham Community Assembly

Marsh Charitable Trust Nationwide Community Foundation National Lottery Community Fund NBC Universal People Powered Places PF Charitable Trust Portal Trust Royal Docks Trust Sainsburys Helping Everyone Eat Better Community Grant Fund Schroder Foundation Sir Harold Hood’s Charitable Trust St Martin in the Field Vicar’s Relief Fund The Albert Hunt Trust The Albert Gubay Foundation The Augustine Court Auld Trust The Borrows Charitable Trust The Charitable Committee of The Vintner’s Company The Hobson Charity The J A Rose Trust The Poor Fund of the Worshipful Company of Fan Makers The Rank Foundation The Sisters of The Holy Cross Charitable Trust Trust for London White Oak Charitable Trust

12

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

awards

We are delighted that our impact was recognised by winning:

sustaInabILIty

Your Place recognises that our work may have a direct or indirect effect on the local, regional and global environment.

We are committed to reducing any harmful effects on the environment and promoting the understanding of sustainability in its broadest context.

In addition to adhering to all relevant environmental legislation and regulations as an organisation, we are committed to making a positive contribution to the protection of our environment, ensuring that we are actively reducing any harmful effects we have on the environment and promoting sustainability in its broadest context.

This is important to us and the wider borough we operate in, as Newham Council has declared a climate emergency and introduced measures to tackle global warming, poor air quality and waste.

Your Place was also shortlisted at the following awards:

Thanks to a successful funding application to Kew Gardens, our internal Green Project is working with our residents, keen to learn about UK native plants and make Anchor House a greener place to live. We are also looking towards funding for more efficient energy across the site, ensuring that our energy footprint is as low as possible. Our policies, and the ways in which they are working in practice, will be reviewed at each monthly Green Project meeting.

During the year, we have also been active in supporting sector campaigns calling for the government to protect those with No Recourse to Public Funds (NRPF), to ensure that sleeping rough is no longer a legal ground to remove someone from the UK, to repeal the Vagrancy Act and to protect homelessness services facing cuts and costing of living pressures via the #KeepOurDoorsOpen campaign.

Your Place do a good job of “ reminding women that we are not alone. SHANNAN ”

13

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL revIew

Financial review for the year

During the year the Charity received income of £5,314K (2023: £5,304K) and incurred expenditure of £4,764K (2023: £5,534K), resulting in a surplus of £549K (2023: deficit of £230K), which is made up of a surplus of £116K on restricted funds and a surplus of £433K on unrestricted funds.

The surplus on restricted funds includes capital grants of £112K. These grants were spent on capital expenditure and included in the fixed assets.

The overall income for the year increased only by £9K (0.18%) from previous year’s income. Although there was an increase in Housing Benefit for the units in Anchor house in April 2023, this was offset by loss of income following the ending of IRSSS (Integrated Rough Sleeper Support Services) contracts in August 2023.

The decrease in expenditure from the previous year was £769K (14%), mainly due to the ending of IRSSS in August 2023 and the subsequent implementation of financial recovery plans, including the restructure of some of the departments, to reduce costs.

Financial review for future periods

Our budget for 2024-25 shows a surplus of £136K. In line with our strategic plan, we continue to seek to expand our services. Currently, in addition to London Borough of Newham, we are working with other local authorities to deliver intensive support services to more residents.

From April 2025 we will be delivering a new support service to 23 residents in Anchor House through Single Homelessness Accommodation Programme (SHAP). This will support rough sleepers from across the capital with long term accommodation and support. To this end, we have already secured both capital grant and revenue grant from GLA for this programme. The capital grant amounts to £829K, which will be used in the refurbishment of the existing 25 move-on flats, to convert them for use for this new service.

The total development cost is £956K inclusive of VAT. We have also secured a loan and a grant from Thrive together for the additional funding required to complete this refurbishment programme. The revenue grant amounts to £1.9M for three years starting from Feb 2024.

Trustees are pleased to report that at the date of approval of this report the charity has performed well in exceptionally challenging circumstances.

for the fIrst tIme, my dreams seem to “ be achIevabLe. I feeL emPowered, IndePendent and successfuL. DANLEY ”

14 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL revIew

Reserves

At 31 March 2024, unrestricted reserves stood at £10,821K (2023: £10,275K), of which £8,864K is represented by the net book value of fixed assets less outstanding loan finance.

The Trustees have also acknowledged that the charity is largely reliant on reserves for future growth and expansion and have agreed that the charity should be able to use part of the reserves for this purpose if needed provided that this does not impact the existing operations and that realistic strategies are in place to replenish them.

Of the balance of £1,957K, £1,059K has been set aside for a cyclical programme of major repairs, £131K for residents’ furniture and equipment and £46K to cover grant cessations, and the remaining £720K is held in general reserves. The Trustees have the authority to make these funds available for other purposes if required.

The Trustees have reviewed the reserves of the charity taking into consideration future activities, uncertainties, and risks and have concluded that the appropriate level of reserves required is in the range of £1.2M to £1.5M.

We will continue our efforts to build these reserves over the next few years from £720K (2023: £276K) 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 2024-25 and the forecast for the year and are confident that the charity will continue to be able to build towards the required level of financial reserves.

The Board of Trustees has set aside:

Major Repairs Fund £1,059K (2023: £909K)

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.

Residents Furniture & Equipment Fund £131K (2023: £43K)

To replace residents’ furniture and equipment both in their rooms and in communal areas.

Fixed Assets Fund of £8,865K (2023: £9,001K) is intended to represent the net book value of unrestricted tangible fixed assets, less the outstanding loan finance raised to facilitate the acquisition and development of capital improvements.

15 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

PLans for future years

This was the third year of our five-year Strategic Plan for the period April 2021 to March 2026. This plan sets out an ambitious roadmap around five key goals. By March 2026, we will:

1. Provide additional specialist supported housing

2. Offer an expanded range of complementary services

3. Be a sustainable organisation

4. Be a great place to work

5. Be a trusted voice in the community and sector

Offer an expanded range of complementary services

Significant progress has been made in Goal 2 , with our gender informed women’s work, which is now gaining national recognition. We have also continued to support a significant number of particularly vulnerable people with No Recourse to Public Funds during the year, and those who have come to us following sleeping rough, including those coming off the streets as a direct result of a period of severe weather.

Provide additional specialist supported housing

Having made significant progress in delivering Goal 1 with the development of our award winning Hope Street service and the four services for people sleeping rough which we ran in partnership with CGL between 2021 and 2023, we are now focused on developing quality accommodation move on housing for our people experiencing homelessness.

We were pleased that during the year we were awarded funding from both the GLA and Social Investment Business to develop a new specialist supported housing service providing long term accommodation and support for people who have slept rough from across London. This service is due to open in Spring 2025 and building work is already underway.

In this year, we have extended the range of organisations who deliver outreach support services to our clients on site in our services, and we are delighted that we now host an extensive range of specialist organisations throughout the week, delivering support across a wide range of areas including health testing, debt and money advice, English for speakers of other languages, fitness, and art. We complement these outreach sessions with sessions we deliver which have also expanded in the year to include cookery and gardening sessions. We have also focused on developing and embedding our trauma informed practice across the organisation, rolling out extensive training to our teams.

16 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

PLans for future years

Be a sustainable organisation

In Goal 3 , we have continued to make great progress in upgrading our facilities, with a large refurbishment of our reception, foyer, Customer Services offices, toilet facilities and staff kitchen taking place.

The refurbished area is a bright, functional and transformed space for welcoming residents and visitors alike to our service and the improvements have been welcomed by all. We worked hard in the year to improve our financial position and we were pleased to achieve a small surplus, in line with our budget and our strategic plan. We began to replenish our reserves which were depleting with the challenges following the pandemic and the Cost-of-Living crisis.

We continue to be fortunate to receive support from many generous donors, who donated £702,000 income through grants and donations in the year.

Be a great place to work

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 volunteers who can bring their dynamism, professionalism, energy and tenacity to help us achieve great outcomes together. Our focus this year has been on developing our culture, based on our values of compassion, inclusion growth and collaboration. We have also focused on employee wellbeing, and learning and development, with some of our team undertaking accredited professional training programmes for the first time with our support.

Be a trusted voice in the community and sector

For Goal 5 , we have been delighted with how positively received our new brand has been, and we have worked hard to give our residents a platform alongside us to share their stories and views, putting our residents at the heart of our work and our communications about them.

We have continued to support campaign work across our sector which will give our residents and those experiencing homelessness a better deal. Our impact work has helped to evidence particularly high levels of refugees and people seeking asylum amongst those we support, and we are using this insight to seek funding to develop our work to best support this group. Our Chief Executive has continued to Co-Chair the Newham Homelessness Forum and Chair to the National Advisory Council on behalf of Homeless Link.

We continue to work with our partners 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 join us in solving some of society’s 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.

17 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

rIsK manaGement

The Trustees have examined the financial and operational risks which the charity faces and confirm that systems, controls and review procedures have been established to mitigate exposure to these risks.

The charity has a live Risk Register, which has been updated regularly during the year and reformatted to include a risk map, and each of the Charity’s Sub-Committees 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:

Failure to secure appropriate funding from trusts and foundations, statutory or individual donors. Inability to secure voluntary income will lead to a loss of revenue, impacting on our bottom line and reserves. Your Place has a budget process in place to clearly identify funding requirements for each service and we are setting achievable targets. Monthly accounting and forecasting processes are in place to monitor for performance and decision-making, alongside an experienced fundraising team to generate and grow our fundraised income.

Your Place enjoys a strong track record of fundraising. Systems are in place, including scenario planning, to identify risks, impacts and increased costs. We are monitoring shortfalls and taking appropriate actions to sustain services dependent on fundraising income. We are also creating reserves where appropriate, ensuring our continuity of service.

London Borough of Newham (LBN) contracts

Our two formal contracts with LBN, which have previously been extended in term, ended on 31st March 2024. During regular meetings with LBN, Your Place has received reassurance that cabinet approval is in place for a further agreed extension for the current financial year (April 2024 – March 2025), however this has not been formalised with cabinet approval and signed contracts yet.

During the April 2024 – March 2025 financial year a tender process will be initiated for all supported housing contracts in the borough, due to regulatory requirements. There is a risk of failing to secure the contract but also an opportunity whereby Your Place can tender for other services.

Staff wellbeing

In a challenging year, the physical and emotional wellbeing of staff has faced pressures, that directly affect our frontline staff and generate a wider impact on all colleagues. Risks faced include increased absences, a legal duty of care to staff, as well as a broader impact on culture and contribution.

We recently implemented new clinical supervision and reflective practice, while also reviewing policies and refreshing our clinical supervision. Trained managers are in place to support colleagues, while our People Team are managing wellness checks, providing a safe and confidential space and also managing our Employee Assistance Programme. Team members can also take a wellbeing day if required. Our People Team are developing further support in the case of trauma experienced by colleagues in future.

Lack of Private Rented Sector (PRS) move on – London housing crisis

The housing crisis has left the sector with a slow rate of move-on, meaning residents are waiting longer than previously once they are ready for independent living.

This also presents greater pressures on Your Place. The slow rate of move-on reduces throughput and creates contract performance “holdbacks”. We also have limited links with PRS landlords. Our Senior Management Team have agreed to allocate further resources to develop a PRS Officer role. We are working with Greater Change to create personalised budget funding to support move on costs for our residents, such as deposits, rent in advance and furnishing costs.

18 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

statement of trustees’ resPonsIbILItIes

The Trustees (who are also directors of Your Place for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that year. In preparing these financial statements, the Trustees are required to:

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 also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the Trustees is aware at the time the report is approved:

Statement of Board of Trustees on Internal financial controls

The Board of Trustees acknowledge its overall responsibility for establishing and maintaining the whole system of internal controls and reviewing its effectiveness. The system of internal control is designed to manage, rather than eliminate, the risk of failure to achieve business objectives, and to provide reasonable assurance against material misstatements or loss. The process for identifying, 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 assurance include:

The key areas cover control, information reporting systems, monitoring and risk management.

19 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

statement of trustees’ resPonsIbILItIes

Control

Monitoring

The Board of Trustees retains responsibility for defined range of areas covering strategic, operational, and financial elements. The Board of Trustees has put in place an organisational structure which clearly defines lines of responsibility and delegation of authority.

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 actions are taken in relation to any significant control issues and the recommendations of our consultant internal auditor.

Information Reporting System

Risk Management

Financial reporting systems include regular reviews of overall financial business plans, preparation of detailed annul budgets and the production of detailed monthly 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.

The charity has a comprehensive risk management strategy which identifies risks 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 17 September 2024

I Got a Lot of suPPort; how to Get “ Into worK, how to Get bacK to LIvInG aGaIn, how to communIcate wIth dIfferent PeoPLe; they teach us a Lot. AHMED”

Simon Hall

Chair & Trustee

20 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

I want to be abLeto heLP PeoPLe, “ beInG here Just InsPIres me even more to fuLfIL that dream. MARY ” 21 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

Opinion

We have audited the financial statements of Your Place (London) Limited for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the 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 doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

22 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

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

Responsibilities of Trustees for the financial statements

As explained more fully in the Trustees’ responsibilities statement set out on page 19, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to social housing, safeguarding, fundraising, 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 regulations that 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 Act 2006 and the Charities Act 2011, and considered other factors such as income tax, payroll tax and sales tax.

23 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

IndePendent audItor’s rePort to members of your PLace (London) LImIted

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included:

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an 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.

Lee Stokes

(Senior Statutory Auditor) 30 September 2024

For and on behalf of Haysmacintyre LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG

24 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

fInancIaL statements

CONTENTS

26 STATEMENT OF FINANCIAL ACTIVITIES 27 bALANCE ShEET 28 STATEMENT OF CAShFLOWS 29 NOTES TO ThE FINANCIAL STATEMENTS

25

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted statement of fInancIaL actIvItIes (IncorPoratInG the Income and eXPendIture account) for the year ended 31 march 2024

Unrestricted funds Restricted funds Total Funds Total Funds
2024 2024 2024 2023
Notes £ £ £ £
INCOME FROM
Donations, grants and legacies 2a 264,518 437,055 701,573 665,880
Charitable activity 2b 4,567,082 - 4,567,082 4,612,112
Other trading activities:
Rent receivable 19,858 - 19,858 21,108
Investment Income 25,192 - 25,192 5,195
TOTAL INCOME 4,876,650 437,055 5,313,705 5,304,295
EXPENDITURE ON
Cost of raising funds 4 218,517 - 218,517 244,883
Charitable activity 5 4,224,855 321,097 4,545,952 5,288,993
TOTAL EXPENDITURE 4,443,372 321,097 4,764,469 5,533,876
Net income/(expenditure) 433,278 115,958 549,236 (229,581)
Transfer between funds 112,400 (112,400) - -
NET MOVEMENT IN FUNDS 545,678 3,558 549,236 (229,581)
TOTAL FUNDS BROUGHT FORWARD 10,275,116 37,670 10,312,786 10,542,367
TOTAL FUNDS CARRIED FORWARD 10,820,794 41,228 10,862,022 10,312,786

The notes on pages 29 to 40 form part of these financial statements. All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities. Details of comparative figures are given in note 21.

26

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted baLance sheet as at 31 march 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible fixed assets 9 10,845,064 11,086,564
10,845,064 11,086,564
CURRENT ASSETS
Stocks 11 4,835 5,086
Debtors 12 362,961 836,674
Cash at bank and on deposit 2,353,976 1,251,955
2,721,772 2,093,715
CREDITORS: amounts falling due within one year 13 (816,419) (887,134)
NET CURRENT ASSETS 1,905,353 1,206,581
CREDITORS: amounts falling due after one year 14 (1,888,395) (1,980,359)
NET ASSETS 10,862,022 10,312,786
REPRESENTED BY
Unrestricted Funds
- General 16 719,771 275,878
- Designated 16 10,101,023 9,999,238
Restricted Funds 17 41,228 37,670
10,862,022 10,312,786

The financial statements were approved and authorised for issue by the Board of Trustees on 17 September 2024 and were signed on its behalf by:

Simon Hall

Trustee

The notes on pages 29 to 40 form part of these financial statements. Company registration number: 08075329 (England and Wales)

27

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted statement of cash fLows as at 31 march 2024

CASH FLOW STATEMENT
Cash flows from operating activities:
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash (used in) investing activities
Cash flows from financing activities:
Repayment of borrowing
Net Cash provided in financing activities
Change in cash and cash equivalents in the reporting year
Cash and cash equivalents at the beginning of the reporting year
Cash and cash equivalents at the end of the reporting year
Reconciliation of net income to net cash flow from operating activities
Net income/(expenditure) for the reporting year
(as per the statement of financial activities)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease in stocks
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Movement in net debt
Cash and cash equivalents
Loans due within one year
Loans due after one year		 2024
2023
£
£
£
£
1,331,965
(140,986)
45,050
26,303
(169,196)
(325,016)
(124,146)
(298,713)
(105,798)
(100,926)
(105,798)
(100,926)
1,102,021
(540,625)

1,251,955
1,792,580
2,353,976
1,251,955
2024
2023
£
£
549,236
(229,581)
410,695
394,738
(45,050)
(26,303)
252
237
473,713
(319,577)
(56,881)
39,500
1,331,965
(140,986)
2024
2023
£
£
2,353,976
1,251,955
2,353,976
1,251,955
1 April 2023
Cashflows
31 March 2024
£
£
£
1,251,955
1,102,021
2,353,976
(105,554)
13,834
(91,720)
(1,980,359)
91,964
(1,888,395)		 2024
2023
£
£
£
1,331,965
(140,986)
26,303
(325,016)
(124,146)
(298,713)
(100,926)
(105,798)
(100,926)
1,102,021
(540,625)
1,251,955
1,792,580
2,353,976
1,251,955
2024
2023
£
£
549,236
(229,581)
410,695
394,738
(45,050)
(26,303)
252
237
473,713
(319,577)
(56,881)
39,500
1,331,965
(140,986)
2024
2023
£
£
2,353,976
1,251,955
2,353,976
1,251,955
(833,958)
1,207,819
373,861

28

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

1 Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS102), Statement of Recommended Practice for registered Social Housing Providers 2008, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Your Place (London) Limited meets the definition of a public benefit entity under FRS 102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Having reviewed the funding facilities available to the charity together with future projected cash flows covering a 12-month period from the approval of the financial statements, the Trustees have an expectation that the charity has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the charity’s financial viability. Accordingly, the financial statements have been prepared on a going concern basis.

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. Judgements made by the Trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets and are discussed below.

In the view of the Trustees, no assumptions concerning the future or estimation of uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

(c) Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand 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 provisions.

Income from charitable activities represent receipts from residential accommodation, 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 so. 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.

Expenditure

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 external audit, legal and professional advice and all costs of complying with constitutional and statutory requirements, such as the costs of Trustees’ meetings and of preparing statutory financial statements and satisfying public accountability.

29

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

(f) Tangible fixed assets

The property is freehold, 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 asset brought into use.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets other than freehold land and assets under construction (AUC) over their estimated economic lives.

Using component costing principles freehold property is divided into components which are depreciated over the following years:

Building structure 60 years Windows, bathrooms and flooring 15 years Heating and electricity systems 15 years to 30 years, as appropriate Kitchen 20 years Lift 10 years

In the previous year the lift was depreciated based on a useful life of 30 years. From April 2023 the useful life has been changed to 10 years. All PCs and laptops regardless of their values and other tangible fixed assets exceeding £1,000 are stated at cost net of depreciation. Depreciation is calculated at the following annual rates:

Fixtures, fittings and equipment 10-33% straight line, as appropriate Motor vehicles 25% straight line

Investments are stated at their middle market values ruling at the balance sheet date. The realised and unrealised gains and losses on investments are calculated based on the opening market values and are accounted for within the Statement of Financial Activities.

Income arising from these investments is accounted for when it is receivable.

Stocks are shown at lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.

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 cash in hand includes cash and short term highly liquid investments.

Creditors and provisions are recognised where the charity has a present obligation resulting from a 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.

The Trustees may set aside amounts of unrestricted funds, at their discretion, for specific future purposes. Such funds are shown within unrestricted funds as designated funds. Where the Trustees decide that designated funds are no longer required for the purposes specified, these are released from designated 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.

As a registered charity, YP 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 items to which it relates.

30

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

2a Income from donations and grants
INCOME FROM DONATIONS: Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Donations 85,618 25,074 110,692 142,220
Donation in kind - 17,558 17,558 3,756
85,618 42,632 128,250 145,976
INCOME FROM GRANTS: Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
29th May 1961 Charitable Trust - 3,000 3,000 3,000
Alexandra Kelly - - - 1,000
Anderson Charitable Foundation - 7,106 7,106 -
Aspers Casino Good Causes Fund - - - 1,462
Barber Charvet Trust 15,000 - 15,000 15,000
Big Give - 7,500 7,500 -
Building Societies Trust Limited - 25,872 25,872 25,000
Charles S French Charitable Trust - - - 2,500
Charlotte Marshall Charitable Trust 2,000 - 2,000 1,800
Clifford Chance Foundation - - - 5,050
Clothworkers Foundation - - - 55,000
City Bridge Foundation - 50,000 50,000 50,000
Coco Joelle Foundation - - - 75,000
CRASH - 4,500 4,500 -
DWP Flexible Support Fund Grant - - - 37,977
Edward Gostling Foundation - - - 25,000
French Huguenot Church of London Charitable Trust - 6,000 6,000 -
Garfield Weston Foundation 25,000 - 25,000 25,000
John Armitage Charitable Trust 35,000 - 35,000 20,000
LB Newham Community Assembly - 10,000 10,000 10,000
LBN (Microgrant) - 500 500 -
PF Charitable Trust 2,000 - 2,000 -
London Catalyst - 1,000 1,000 -
National Lottery Community Fund 75,000 74,262 149,262 33,275
Nationwide Community Foundation - 33,333 33,333 16,667
NBC Universal - - - 3,000
Marsh Charitable Trust 900 - 900 800
People Powered Places - 10,000 10,000 -
Portal Trust - - - 19,999
Royal Docks Trust - - - 10,000
Sainsburys Helping Everyone Eat Better Community Grant Fund - - - 1,500
Schroder Foundation - - - 5,000
Sir Harold Hood’s Charitable Trust 1,000 - 1,000 -
St Martin in the Field Vicar’s Relief Fund - - - 199

31

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
The Albert Gubay Foundation - 100,000 100,000 -
The Albert Hunt Trust 7,000 - 7,000 7,000
The Augustine Court Auld Trust - - - 750
The Borrows Charitable Trust 5,000 - 5,000 5,000
The Charitable Committee of The Vintner’s Company - - - 5,000
The Hobson Charity - 10,000 10,000 -
The J A Rose Trust 5,000 - 5,000 5,000
The Poor Fund of the Worshipful Company of Fan Makers 5,000 - 5,000 3,750
The Rank Foundation - 3,500 3,500 -
The Sisters of The Holy Cross Charitable Trust - - - 20,000
Trust for London - 47,850 47,850 30,175
White Oak Charitable Trust 1,000 - 1,000 -
178,900 394,423 573,323 519.904
Total donations, grants and legacies 264,518 437,055 701,573 665,880

2b Income from charitable activities

Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Accommodation 3,786,213 - 3,786,213 3,355,439
Housing Related Support 567,594 - 567,594 1,001,972
Rough Sleepers Initiative 161,704 - 161,704 224,140
Sundry income 45,669 - 45,669 25,425
Laundry income 5,902 - 5,902 5,136
4,567,082 - 4,567,082 4,612,112

All income in 2024 and 2023 was unrestricted.

3 Social housing lettings

3 Social housing lettings
2024 2023
£ £
Rent receivable excluding service charges 1,514,485 1,485,117
Service charge receivable 2,271,728 1,870,322
Grants and other income 1,376,026 1,851,164
Turnover from social housing lettings 5,162,239 5,206,603
Operating expenditure on social housing lettings 4,696,186 5,378,379
Operating surplus/(deficit) on social housing lettings 466,053 (171,776)
Financing costs (57,968) (62,672)
Surplus/(deficit) on social housing lettings 408,085 (234,448)
Void losses 190,115 360,839

32

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

4 Cost of raising funds

4 Cost of raising funds
2024 2023
£ £
Staff costs 144,580 139,180
Other direct costs 27,614 36,376
Support costs 46,323 69,327
218,517 244,883
5 Charitable activities
Total Total
Staff Other Direct Support 2024 2023
Costs Costs Costs Costs Costs
£ £ £ £ £
Anchor House 1,776,306 1,425,863 725,359 3,927,528 3,775,641
Integrated Rough Sleeping Support 347,003 148,332 123,089 618,424 1,513,352
Services (IRSSS)
2,123,309 1,574,195 848,448 4,545,952 5,288,993

6 Support costs allocation to activities

Total Total
Fundraising Anchor House IRSSS 2024 2023
£ £ £ £ £
Staff costs 42,314 519,866 101,556 663,736 640,871
Staff training and recruitment 786 40,357 4,229 45,372 127,869
Office expenses 2,094 107,305 11,244 120,643 163,437
Legal and professional fees 586 30,033 3,147 33,766 26,822
Other costs 543 27,797 2,913 31,253 4,159
46,323 725,358 123,089 894,770 963,158

Support costs have been allocated to activities based in number of people employed within each activity.

7 Governance Costs

7 Governance Costs
2024 2023
£ £
Staff costs 57,094 55,438
Auditors’ remuneration - Audit fee 24,382 18,400
Legal and professional fees 7,924 3,023
Trustee expenses 104 3,328
89,504 80,189

The Trustees received no remuneration (2023: £Nil).

Expenses relating to travel and training were reimbursed or paid to third parties on behalf of Trustees. These amounted to £104 (2023: £3,328).

33

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

8 Staff costs

8 Staff costs
2024 2023
£ £
Salaries 2,068,778 2,183,046
Social security costs 207,622 222,090
Pension 114,693 128,961
Termination payment - 2,000
Casual workers 540,532 844,498
2,931,625 3,380,595

The average number of staff in the year was 65 (2023: 88): calculated on a full-time equivalent basis, the figure was 62 (2023: 86 (including casual workers)). The number of employees with annual taxable emoluments paid more than £60,000 per annum was:

2024 2023
£60,000 - £69,999 3 3
£70,000 - £79,999 - -
£90,000 - £100,999 1 1

The total remuneration of key management personnel for the year was £303,421 (2023 – £310,172). Included in the above were payments to the Chief Executive, being the highest paid employee, amounting to £96,200 for the year excluding pension contribution (2023: £92,500). The Chief Executive is a member of the Charity’s defined contribution pension scheme. The charity contributes 7.5% of the salary to the Chief Executive’s pension, and the Chief Executive contributes the same percentage of her salary.

9 Tangible fixed assets

9 Tangible fixed assets
Freehold Land Motor Furniture &
and Buildings Vehicles Equipment Brand AUC Total
Costs £ £ £ £ £ £
At 1 April 2023 13,185,216 35,284 532,615 81,500 - 13,834,615
Additions 108,262 - 18,054 - 42.880 169,196
Eliminated on disposal (64,000) (8,884) - - - (72,884)
At 31 March 2024 13,229,478 26,400 550,669 81,500 42,880 13,930,927
Depreciation
At 1 April 2023 2,451,077 14,164 274,661 8,150 - 2,748,052
Charge in the year 307,468 5,280 81,647 16,300 - 410,695
Eliminated on disposal (64,000) (8,884) - - - (72,884)
At 31 March 2024 2,694,545 10,560 356,308 24,450 - 3,085,863
Net book value
As at 31 March 2024 10,534,933 15,840 194,361 57,050 42,880 10,845,064
As at 31 March 2023 10,734,139 21,120 257,955 73,350 - 11,086,564

34

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

10 Investments

The charity owned 100% share capital of a subsidiary company, The Learning and Development Academy Ltd, which was dissolved on 2 April 2024.

11 Stocks

11 Stocks
2024 2023
£ £
Consumables 4,835 5,086
4,835 5,086
12 Debtors
2024 2023
£ £
Trade debtors 263,386 667,464
Prepayments 87,300 113,160
Other debtors 12,275 56,050
362,961 836,674
13 Creditors - Amounts falling due within one year
2024 2023
£ £
Bank loans (note 15) 91,720 105,554
Trade creditors 114,215 271,855
Accruals 252,613 258,402
Social security and other taxes 48,719 47,919
Pension fund 15,712 19,532
Other creditors 293,440 183,872
816,419 887,134
14 Creditors - Amounts falling due outside one year
2024 2023
£ £
Bank loans (note 15) 1,888,395 1,980,359

35

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

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 £120,000 from Homeless Link for the Hope Street project during the financial year 2020-21. This is an unsecured loan and is repayable over 42 months, ending on 1 October 2024. The applicable rate of interest is 8% fixed rate.

8% fixed rate.
2024 2023
£ £
Repayments are due as follows
Within 1 year 91,720 105,554
Between 2-5 years 283,117 301,136
Over 5 years 1,605,278 1,679,223
1,980,115 2,085,913
16 Unrestricted Funds
Reduction
At 1 April Income in long term At 31 March
2023 and Gains Expenditure Transfers Loans 2024
£ £ £ £ £ £
General 275,878 4,876,650 (4,443,372) 116,413 (105,796) 719,771
Designated funds:
Fixed Assets 9,000,651 - - (241,499) 105,796 8,864,950
Post Grant Continuity 46,427 - - - - 46,427
Major repair Fund 909,394 - - 149,581 - 1,058,975
Residents Furniture & Equipment 42,766 - - 87,905 - 130,671
(renewals & replacements)
10,275,116 4,876,650 (4,443,372) 112,400 - 10,820,794

The Fixed Assets Designated Fund represents the net book value of unrestricted tangible fixed assets less the outstanding balance of the long-term Property Loan. Each year amounts are transferred to or from the Fixed Asset Fund, representing the movement in the net book value of the unrestricted tangible fixed assets in the year and the reduction in the long-term loan, as capital is repaid.

The Post Grant Continuity Fund represents money set aside to cover costs incurred where funding has ceased.

The Major Repairs Fund represents money set aside to cover major repairs on Anchor House building. Every year an amount is allocated to each component (windows, bathrooms, flooring, heating and electricity systems, lift, and kitchen) based on their useful economic life and estimated replacement costs.

The Residents Furniture & Equipment Fund represents money set aside to replace residents’ furniture and equipment both in their rooms and in the communal area.

36 Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Reduction
At 1 April Income in long term At 31 March
2022 and Gains Expenditure Transfers Loans 2023
£ £ £ £ £ £
General 484,452 4,844,332 (5,073,583) 121,603 (100,926) 275,878
Designated funds:
Fixed Assets 8,969,447 - - (69,722) 100,926 9,000,651
Post Grant Continuity 50,000 - - (3,573) - 46,427
Contingency Fund 30,000 - - (30,000) - -
Major repair Fund 776,058 - - 133,336 - 909,394
Residents Furniture & Equipment - - - 42,766 - 42,766
(renewals & replacements)
Access control 194,410 - -
 (194,410) - -
10,504,367 4,844,332 (5,073,583) - - 10,275,116
17 Restricted Funds
At 1 April At 1 March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
Personal Development - 52,876 (72,876) 20,000 -
Community Partnership - 97,153 (97,153) - -
Move-on 20,000 35,872 (10,000) (20,000) 25,872
Donation in kind - 17,558 (11,158) (6,400) -
Capital fund 17,670 114,000 (10,314) (106,000) 15,356
Staff Social Committee - 2,000 (2,000) - -
Women’s Development Service - 107,596 (107,596) - -
Gardening - 2,000 (2,000) - -
Cost of Living - 3,500 (3,500) - -
Remedial Survey (Hope Street) - 4,500 (4,500) - -
37,670 437,055 (321,097) (112,400) 41,228

The transfers represent the capital expenditure in the year.

Personal Development

This fund supports our vulnerable residents with high levels of isolation, low self-esteem and complex challenges on their journey back to independent living through structured personal development and social activities.

Community Partnership

This fund supports our residents with education, training and employment opportunities. Learning new skills helps our residents to improve their self-esteem and gain experience so that they can re-enter the workforce.

Move-on

This fund supports our tenancy sustainability service, allowing us to assist single homes residents to access independent accommodation.

Staff Social Welfare

This fund represents the amount of donations received during the year to meet staff social welfare costs.

37

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

Donation in Kind

This fund represents the value of furniture, other items and services donated by various organisations during the year.

Capital Fund

This is a restricted fund to be used on YP’s wider capital programme.

Women’s Development Service

This fund supports specialist accommodation-based support to women across the charity.

Gardening

This fund supports gardening activities across the charity.

Cost of Living

This fund supports increase in transport costs as a result of inflation.

Remedial Survey

This fund supports undertaking inspections of flats in the Hope Street project.

At 1 April At 31 March
2022 Income Expenditure Transfers 2023
£ £ £ £ £
Personal Development - 64,097 (64,097) - -
Education, Training and employment - 215,217 (215,217) - -
Move-on 20,000 27,756 (27,756) - 20,000
Donation in kind - 3,756 (3,756) - -
Capital fund 18,000 92,496 (92,826) - 17,670
Assessment Hub - 5,000 (5,000) - -
Food Transport - 1,500 (1,500) - -
Women Co-ordinator - 50,141 (50,141) - -
Service - - - - -
38,000 459,963 (460,293) - 37,670

38

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

18 Analysis of net assets between funds

Unrestricted Designated Restricted Total
Funds Funds Funds 2024
31 March 2024 £ £ £ £
Fixed assets - 10,845,064 - 10,845,064
Current assets 1,444,470 1,236,074 41,228 2,721,772
Current liabilities (724,699) (91,720) - (816,419)
Long term liabilities - (1,888,395) - (1,888,395)
Total net assets 719,771 10,101,023 41,228 10,862,022
Unrestricted Designated Restricted Total
Funds Funds Funds 2023
31 March 2023 £ £ £ £
Fixed assets - 11,086,564 - 11,086,564
Current assets 1,057,458 998,587 37,670 2,093,715
Current liabilities (781,580) (105,554) - (887,134)
Long term liabilities - (1,980,359) - (1,980,359)
Total net assets 275,878 9,999,238 37,670 10,312,786

19 Capital commitments

19 Capital commitments
2024 2023
£ £
Refurbishment - 108,022
Single Homelessness Accommodation Programme 955,600 -
955,600 108,022

20 Leasing commitments

The charity’s future minimum operating lease payments are as follows:

2024 2023
£ £
Within one year 6,619 11,151
Between one and five years 9,008 8,539
15,627 19,690

The telephone system and photo copier are held under operating lease arrangements.

39

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

your PLace (London) LImIted notes to the fInancIaL statements for the year ended 31 march 2024

21 Detailed statement of financial activities
for the year ended 31 March 2023
Unrestricted funds Restricted funds Total Funds
2023 2023 2023
Notes £ £ £
INCOME FROM
Donations, grants and legacies 2a 205,917 459,613 665,880
Charitable activity:
Anchor House 2b 4,612,112 - 4,612,112
Other trading activities:
Rent receivable 21,108 - 21,108
Investment Income 5,195 - 5,195
TOTAL INCOME 4,844,332 459,613 5,304,295
EXPENDITURE ON
Cost of raising funds 4 244,883 - 244,883
Charitable activity:
Anchor House 5 4,828,700 460,293 5,288,993
TOTAL EXPENDITURE 5,073,583 460,293 5,533,876
Net (expenditure) (229,251) (330) (229,581)
NET MOVEMENT IN FUNDS (229,251) (330) (229,581)
TOTAL FUNDS BROUGHT FORWARD 10,504,367 38,000 10,542,367
TOTAL FUNDS CARRIED FORWARD 10,275,116 37,670 10,312,786

40

Your Place (London) Limited Trustees’ Report & Accounts 2023-2024

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“for the fIrst tIme, my dreams seem to be achIevabLe. I feeL emPowered, IndePendent and successfuL. DANLEY ” contact us Your Place at Anchor House

81 Barking Road London E16 4HB

020 7476 6062

hello@your-place.org.uk

www.your-place.org.uk

Find us on: LinkedIn • X • Facebook • Instagram

Company Registration Number: 08075329 (England and Wales) Registered Charity Number: 1147794 RSH Registration 4841

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Your Place (London) Limited Audit Findings Report

For the Year Ended 31 March 2024 Partner: Lee Stokes; lstokes@haysmacintyre.com Manager: Ian Pinches; ipinches@haysmacintyre.com

Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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 ................................................................................................................................................................... 5
5. Data analytics ............................................................................................................................................................................... 7
6. Emerging issues ............................................................................................................................................................................ 9

Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

1. INTRODUCTION AND EXECUTIVE SUMMARY

This report summarises our key findings in connection with the audit of the financial statements of Your Place (London) Limited for the year ended 31 March 2024.

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 subject to:

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

2. SIGNIFICANT AUDIT RISKS, AND OTHER FOCUS AREAS IDENTIFIED DURING AUDIT PLANNING

We set out below the significant audit risks identified at the planning stage and the conclusions of our audit work:

Significant Audit risk/focus area

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.

This can arise from the application of inappropriate or incorrect accounting treatment of income, particularly in areas of judgement. ISAs permit this presumed significant risk to be rebutted and, in your case, we consider it appropriate to do so. This is based on our knowledge of the nature of the charitable company’s business and the lack of the incentives to manipulate results which are more prevalent in the for-profit sector, together with the relative predictability of your income streams. Presumed risk of management override We are required to consider and respond to the risks arising from management override of controls.

The risk of misappropriation of assets and the risks of misrepresentation of financial information via those judgements and estimates made by management, as well as the posting of journal entries.

How we addressed this Commentary We have undertaken the following procedures to verify Our audit work on revenue did not identify the appropriateness of revenue recognition: any material issues. • Undertook specific substantive procedures to assess the validity and completeness of income recognised in the year. • Analytical testing of accommodation income with reference to occupancy levels and charging rates. • Carried out detailed substantive testing procedures to test cut-off and recognition of revenue. We reviewed the accounting estimates and judgements Planned audit work considered to be and considered their reasonableness and reviewed for satisfactory in this area. We have not potential bias. identified any evidence of management override. We have analysed the journals made in the year and determined the risk criteria for identifying higher risk journals. Subsequently significant, unusual or unexpected journal postings have been investigated and verified.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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 set out our comments on the key accounting estimates relevant to the current year below.

Significant accounting estimate & detail Commentary We consider the key accounting estimates affecting Your We have reviewed the accounting treatment and are satisfied that the financial statements are not Place (London) Limited’s financial statements for the materially misstated. current year are in relation to the bad debt provision.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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.

iii. Laws and regulations

No issues of non-compliance with laws or regulations have been identified throughout the audit process.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

There are no significant matters arising to bring to your attention which arise from the current year audit, and below provide the latest status of issues arising from previous year audits:

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: Donation confirmation Control point grade: Resolved
Risk Our comments & proposals Current year update:
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.		 If a donor has donated online and is new to us their
email address is captured and recorded on their
Salesforce contact profile. They may also provide an
address if they want to and we will communicate via
that.
All of our donations that come in from appeals, again are
posted to the donor and the reply is by post (cheque)
and this is again recorded on the contacts profile on
Salesforce. The only instance where we might not hold
contact details for someone is when a donation is made
anonymously through a third party platform, then they
are recorded as “Anonymous just giving donor” for
example.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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 4,669 transactions within Your Place's A-Plus system. When combined, 245 unique general ledger code combinations were found.

A total of 6 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 7 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.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

6. EMERGING ISSUES

Charity reporting and governance matters Charity Commission guidance on social media use

On 18 September 2023 the Charity Commission published new guidance concerning charities’ use of social media. The guidance addresses both charities’ own use of social media and Trustees’ responsibilities in this regard, and the potential risks surrounding charity employees’ use of social media. The guidance is clear that charities using social media should have a social media policy in place and should ensure that it is followed. A checklist for developing a social media policy has also been created by the commission.

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. The guidance can be found here: https://www.gov.uk/government/publications/charities-and-social-media/charities-and-social-media

Charity commission guidance for charities facing decisions about donations

On 4 March 2024 the Charity Commission published guidance to help charities when deciding to accept, refuse or return a donation. Whilst the default position should be accepting donations to further a charities objectives, the Commission appreciates that there are times when this will be difficult for a charity and has set out an approach to support trustees when making difficult decisions. The guidance is set out in a way to ensure that the law, trustee duties and charity’s powers are all considered.

The guidance sets out examples of when donations must be refused or returned, donations that are likely to be refused/returned, additional considerations and how to document the decision made by trustees.

The guidance can be found here: https://www.gov.uk/guidance/accepting-refusing-and-returning-donations-to-your-charity

MyCharity Commission Account

From July 2023 a new Charity Commission portal has been used. This is where a charity logs any changes to Trustees, files the charity annual return etc. The Charity Commission has released guidance on common issues to support those using this new portal, along with specific guidance for trustees, third party users and charity contacts.

Helpful guidance to support users can be found here:

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

----- Start of picture text -----
Charity reporting and governance matters
• My Charity Commission Account - guidance for third-party users
Collaborative working and mergers: an introduction (CC34)
Following the changes as a result of the implementation of Charities Act 2022, the Charity Commission has produced new guidance on working in
collaboration with other charities either as:
- working as two separate organisations on a joint project
- merging two legally separate charities to form one charity
The guidance considered in more detail the definitions of the above, key thoughts, legal considerations, practical implications in terms of when to get the
Commission involved and different structures.
The guidance can be found here: https://www.gov.uk/guidance/collaborative-working-and-mergers-an-introduction-cc34
Charity Commission report on public trust in charities and the role and experience of trustees
On 18 January 2024, the Charity Commission released a report which contained ten years’ worth of research into the public views of charities and about
charity trustees. Increasing public trust is a key focus for the Charity Commission and this report will help steer future guidance and support for charities.
Key findings from the research programme include:
• Public trust is complex and impacted by a number of factors from regulation to negative actions, however everyone has different views based on
personal circumstances
• Public trust is stabilising
• Responsible use of funds remains a key factor in trust of charities
• People believe charities are making an impact
• Trustees understanding the role and responsibilities is good but there is more to be done. For example 1 in 5 trustees did not fully appreciate that
they had a collective responsibility for critical functions e.g. financial oversight and the charity’s annual accounts
The full report can be found here: https://www.gov.uk/government/publications/public-trust-in-charities-and-the-role-and-experience-of-trustees/public-
trust-in-charities-and-the-role-and-experience-of-trustees#:~:text=98%25%20of%20trustees%20said%20they,help%20to%20fulfil%20its%20purpose
Charity Commission guidance for trustees on investment policies
The Charity Commission has updated its guidance on charities and investments following its call for information and consultation on financial investments.
The updated guidance reflects the judgment of the Chancery Division in Butler-Sloss & Ors v The Charity Commission for England and Wales & Anor and
is known as CC14.
----- End of picture text -----

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

Charity reporting and governance matters

As a reminder, the verdict clarifies that where trustees are of the reasonable view that particular investments (or classes of investments) potentially conflict with the charitable purposes, the trustees have the discretion to exclude such investments. They should exercise that discretion by reasonably balancing all relevant factors including the likelihood and seriousness of the potential conflict, and the likelihood and seriousness of any potential financial effect from the exclusion of such investments.

The guidance can be found here: https://www.gov.uk/government/publications/charities-and-investment-matters-a-guide-for-trustees-cc14

Employment Tax

National Insurance Contributions Reduction

The Spring budget announced a 2% reduction of employee NICs from 10% to 8% from 6 April 2024. This is second reduction in NIC in the past six months and will save an average worker on £35,400 over £450 per year from April 2024. Alongside the cuts announced in the Autumn Statement, this is a total saving of over £900 NIC saving per annum.

We have detailed below the annual savings based on typical salaries from both announcements.

Annual Salary Annualgain
£38,900 Over £1,000
£44,300 Over £1,250
£65,000 Over £1,500
Working families with two earners each on the
average salary		 Over £1,800.

The employer NIC rate remains unaltered at 13.8%.

Off- Payroll Working Arrangements

The Finance Act 2024, which gained Royal Assent in late February, includes the legislation that allows the correct off-set of any ‘other taxes’ against the PAYE Income Tax and National Insurance liabilities due under the off-payroll working legislation (commonly referred to as IR35 or the intermediaries legislation) looks at how the provisions can be applied in resolving disputes with HMRC. Further, the HMRC has recently announced it will no longer provide employers with advance assurance on the tax treatment of termination and redundancy payments.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

Employment Tax

In January 2024, the Government announced the mandatory payrolling of benefits in kind (BiK), with effect from April 2026. Employers will need to carefully plan who they will transition over to the new regime and bid farewell to the annual submission of P11D forms. As part of the Spring Budget 2024, the Chancellor Jeremy Hunt announced a further 2% reduction in employees’ National Insurance contributions (NICs) which will come into effect from April 2024. However, there was no change to the amount of National Insurance (NI) employers will be required to pay, which remains at 13.8%. Employers should consider the use of pension salary sacrifice arrangements both to help promote pensions saving and to help make their salary budgets stretch that bit further. Read more Here.

National Living/Minimum Wage

The National Living Wage increased from 1 April 2024 on the following basis £11.44 (21 and over) £8.60 (18 to 20) £6.40 (under 18) and £6.40 (apprentices). Please note the changes in the revised age group bands which also came into effect from 1 April 2024.

Employers will see their salary costs increase (increase between 9.8% to 21.2% across all categories) and face the prospect of having to auto-enrol more workers into workplace pension schemes - and pay at least 3% towards it.

Other matters

Companies House identity investigation

Companies House is investigating the incorporation of over 750 companies in a six-week period which have tried to clone the identity of famous chefs, including Heston Blumenthal and the Ritz. The companies have been set up with names very similar to existing business, or which could be reasonably linked to genuine businesses, or with subtle misspellings of the real businesses, such as “Dinner by Heston Blumenthall” (including an extra ‘l’ at the end). The scammers have then stolen money from the cloned business and ordered high valued items before leaving unpaid invoices after receiving the goods. It is hoped that the additional verification required when incorporating companies from 4 March 2024 will help combat this practice.

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.

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Your Place (London) Limited – Audit Findings Report | Year ended 31 March 2024

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. AASB proposes increased auditor responsibility on fraud IAASB proposes increased auditor responsibility on fraud The International Auditing and Assurance Standards Board (IAASB) has issued an Exposure Draft to revise ISA 240 “The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements”. The main change is to clarify the auditor’s role in identifying fraud during an audit and reminds auditors of the need to maintain professional scepticism. The Exposure Draft includes, inter alia, the need to strengthen the identification and assessment of material misstatement due to fraud, increased audit documentation, increased communication with management and those charged with governance regarding fraud and increased transparency on the auditor’s responsibility on fraud in the audit report. Comment is open until 5 June 2024. Materiality in practice

The FRC has published “Materiality in practice: applying a materiality mindset”, a report looking at how companies can improve their reporting by being more focused and strategic when assessing materiality. The report, in four sections, recognises that removing irrelevant information strengths the value of an entity’s reporting and encourages preparers to think about investors’ needs and decision making and take a holistic approach towards materiality. It also encourages preparers to focus on the key issues that management and the board are prioritising across the short, medium and long-term. Read more Here.

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