Registered No. 08606716 (England & Wales) Charity No. 1152840 ELIZABETH FRY CHARITY (A company limited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 ,'Iiiiii •ADEA98FF* 2211012024 COMPANIES HOUSE A6 86 JAMES COWPER KRESTON AUDIT ststutory Auditors Chartered Accountants Reading ELIZABETH FRY CHARITY FINANCIAL STATEMENTS CONTENTS Pages Legal and AdrnlnistratNe Information Chairfs Report Chief Executlv•'s Report Report ol the Board of Trustees 9-13 Report of the Independent Auditors 14-15 Statement of Financial Activities 2024 18 Statement of Financlal Activities 2023 17 Balance Sheet 18 Cash Flow Statement Note3 forniing part of Ihe Financial Statements 20-31 ELIZABETH FRY CHARITY (Registered number: 08606716) LEGAL AND ADMINISTRATIVE INFORMATION STATUS AND ADMINISTRATION Elizabeth Fry Charity is a charitable company limited by guarantee, incorporated on 11 July 2013 and commenced operations on 1 April 2014 GOVERNING INSTRUMENTS: The charitable company operates under Articies of Association in accordance V￿th the Companies Acts and under the Offender Management Act 2007 (Approved Premises) Regulations 2014 REGISTERED OFFICE: 8 Coley Avenue Reading 8erkshire RG16LQ REGISTERED CHARITY NUM8ER: 1152840 COMPANY REGISTRATION NUMBER: 08606716 PATRONS: The Rt.Hon.The 8aroness Corston Her Honour Zoe Smith TRUSTEES: E Bishop N Brewsler J Cottrell AFry J A HovAes J Powell C Roberts A J Rolley K Whitaker (appoinled 0410612024> (resigned 1210912023) (resigned 2211112023) Chair The twstees are also directors of the company R Lawrencfrwilson COMPANY SECRETARY: MANAGEMENT TEAM.. Chlef Executlve Offlc•r Operations Manager Finance Manager Referral and Premism Mana9•r Re8¢ttloment and Support Manag•r BANKERS: F Humphreys L Oakley S Wilson C Wharton C Webb Barclay5 Bank plc 90-93 Broad Street Reading RG12AP SOLICITORS: Hewetts 5&57 London Streel Reading RG14PS AUDITORS: James Cowper Kreston Audit 8th Floor Reading Bridge House George Street Reading RG18LS ELIZABETH FRY CHARITY (Reglstered number: 08606716) CHAIR'S REPORT Dunng 2023-2024, the Trustees of Elizabeth Fry Charity held five full Board meetings. We also met with Senior Managers in November for our, now annual, Strategy Day where we review￿ the year gone and commenced planning for the followng financial year. As part of the Board's continuing consideration of rts remit to exercise ovenrfiew of Ihe finances, planning and operations of the Charity, it was decided lo introduce changes to our Committee structure. Consequently. the year for which this report covers saw our former three Committee structure reduced to tr40 Committees, with the a) Finan￿. b) Personnel & Safeguarding. and c) Buildlngs and Health & Safety Cornmlttees replaced by one Commiltee Ihat considers Finance & Buildings, and a second dealing with People & Safeguarding. Those Iwo Committees now meet four times a year, on the same days People & Safeguarding in the morning and Finance & Buildings in the 8fternoon - usually around two weeks before the full Board meeting (there are no Comrnittee meetings before the January 8oard meeting because of Chrlstmas and the New Year). This structure enables things that need lo be done lo be actioned promptly without undue time delays. It also enables Trustees to meet up together more frequently than has been the case in the past, thu5 building the 'Trustee team.. We V￿re sorry to lose the services of bNo Trustees during the ye8r. Judilh Howells sat on the Board for more than 15 years, many of them as Chair of the Personnel & Safeguarding Committee. At the time of her resignalion. Judith was. the longest serwng Trustee. Managers and I relied heavily on her common sense approach and we are grateful for the massive contribution she made to the work of the Charity. Calrin Roberts had been on the Board for less time Ihan Judith, bul also brought lots of relevant and unlque skills to the governance of the Charity which were appropriately deployed. Thank you Judith and Catrin. At the time of wriling Ihis report, prospective Trustees have been interviewed and offered roles Subject lo receipt of satisfactory references and DBS checks. It Is antlcipated that at least three new Trustees will add expertise and relevant experience lo the existing six Trustees during 2024-2025, one of whom has been appointed since year end. The Chlef Execullve Officer will report back on the operational achievements during 2023-2024, but Trustees were pleased wrth the progress that was made in dellvering against the Ellzabeth Fry Strategy for 2022-2027 and the second year's action plan. Trustee8 have been fruslrated by the continuing problems experienced regarding lale referrals which has had an inevitable impact on staffs ability to fully plan for new residents, stays. Despite Elizabeth Fry House conlinuing to accept and receive hlgh numbers of women residenls, our occupancy figures look less good than they should. Many residents who were referred late andlor arrived at the hostel and tested positive for drugs andlof alcohol. failed to maintaln their residenw despite the best efforts of staff. This has been ralsed with the MOJ and Probation. When writing the Chair's report last year, I referred to two initiatives that would be focusin9 ltte attentions of Truslees and Managers during 2023-2024. The first was seeking to address our pension deficit in the defined benefits, Pension Scheme the Charity is part ol. albeit only three managers nt)w remain wthin that scheme (other staff being enrolled in a defined contributions, scheme). Unfortunately. the costs to buy out of the defined benefits. scheme Proved too much and, had we chosen to do so, would have left the Charity in a precarious financial position. Therefore, those plans have been put on the back burner for the immediate future, albeit this is something the Board of Trustees may return lo in the coming years. In the meantime. the Costs of retaining membership in the scheme remain affordable. The second iniliative was the impending MOJ inrtlalive around the award of new conlracls for the provision of Independent Approved Premises (IAPS) across England & Wales from 1 April 2026. The timeframe for this major piece of work has somewhat slipped. Invitations to tender for provision of IAPS in the North-west {induding Greater Manchester) and London were finally issued at the end of 2023-2024, while it is now anticipated that interest for IAPS in the rest of the country should have been invited before June 2024. Elizabeth Fry Charity has set up a small working group of Managers and Trustees to plan for this, and Managers have undertaken a considerable amount of preparatory work to put Elbzabeth Fry Charity in a strong position to gain a contract lo continue to run Elizabeth Fry House as an IAP from 2026-2027. ELIZABETH FRY CHARITY {Reglstered number: 08606716) For the year ended 31 March 2024 During 2023-2024, the Charitls finances V￿re well managed. At the end of the financial year our financial position remained a strong one. It only leaves me to thank Flona Hurnphreys, our Chief Executive Officer. her management team and staff for continuing lo work so hard and effectively in the interest5 of the women who come to reside in Elizabeth Fry House. l am also extrem81y grateful to my colleague Trustees and Board Secretary. Richard Lawrence-wilson, for their ts'me, expertise and interest. Tony Rolley Chair to the Board of Trustees ELIZABETH FRY CHARITY (Reglstered number. 08606716) CHIEF EXECUTIVE'S REPORT l am pleased to report the progress that has been in our mission "to accommodate, support and provide opportunities in line wilh Elizabeth Fry's original ethos. during the last year. Our work has continued to focus on increasing the range of rehabilitative activities available lo residents whilst at Elizabeth Fry House, particularly in relation to Iherapeutic support. The Charity has adopted a new logo and has a new website. supporting the work that is being undertaken lo raise the Charily, profile with referrers and other key stakeholders. The Charity held an Open Day for all siakeholders in June with a further event specifically for Prison and Probation Staff in November. In total nearly 100 visitors representing partner agencies, funders and "friends. of the Charlty came to the premises to see for themselves the work that is being urKlertaken. Feedbad( from a n*mber ofstaff from HKP Sern* To the Ebzabeth Fry Teaw HavM)g Ntyked wth wonyn for 20+ CJS. i am Irvty amazed al IhkT wl The cleanIty￿SS. •nd cwe Ihal Is shavn here is c*arty see￿d fo nonel I leel l •m able lo relum lo w¢)Ik andd15￿1 the nyths. 7hank ￿ for bavTng L•sI bllu be reovestmg tha¢ n)Ne ollhp leam Vwt w. Residents have engaged in Creative Expression workshops during the year. where they are supported to express themselves through art, creative wriling, and poetry. In September two residents from Elizabeth Fry House won the poety category of the National Approved Premises Awards for the South West and South-cenlral Region. Residents who contributed their poems were both due to move on and Y￿re able to spend Ihe prize money on items for their new homes. They also received a framed copy of their poems. In December we welcomed ex-resident L back to Elizabeth Fry House in Ihe role of Peer Mentor. L was a resldent In 2022 and continued to receive support from our Outreach Worker once they moved on to the Reading area. In the rDle as Peer Mentor L has ci>delivered sessions for residents on Creative Writing and Preparing for Move On. In addition. they have provlded valuable support to staff in updating the information which is sent to future residents. L slates "l flourished in my time here and successfully Moved on. Now I come back as a volunteer peer mentor to help 8UPPOrt residents wth their move on plans and run creative groups - this gives me a great sense of purpose" The Charitvs new logo and website were launched Sn Ihe autumn, with a fresh brighl design. The new logo reflects the values of sUPPQrt, respect, underslanding and encouragement with people at the centre along with a new colour scheme that represents optimism and energy. The website now has designated areas for potential residents and their families, and referrers as well as show¢asin9 what we do for partner agencies, funders and potential employees and Irustees. We were delighled to be involved in a Thematic Inspection of the Quality of Work Undertaken with Women Gompleled in October and November by His Majesvs Inspectorate of Probation (HMIPI. The recently published report slates: 8- A r•stdents slDry 8 tahs about Ihe sup￿rt Il*y recefve ihe al Etraèelh Fry. Ihal sfaff hawe til fw Ihem. 8 i•H¢s ab¢uI h¢m lfvey s￿￿11￿ed fftemsetyby enA)￿n9 Ihe Ih¢r¥eulic gardenmq group. Sa￿n9 Ihey ￿n￿ gardenmg felaxiiw. and tl helps It*m lo chdl. Tr*y a￿ ityhuy woud ofhavmq gfown cheny lo•Th•tDes: sunlAJvers. broad beans. kth, maws, and ah)e vern. The a¢t 01￿1￿nIry seeds. kM>kvw after and watchi+¥ Ihem gnjv has clea*lyhad a posth've uvpad on g and nvrrors the WO￿ that Is beNw with ￿st￿nIS ai Elryabelh Fry also speaks abovt the v•kne of havry supptyl of a substance n¥s{￿e WLw*tron stt• and descnbes sess•xs as keepww Ihem nwJGvaled and lurn to ¥layM Ir4ck. . He is alva￿ ollhe need lo poso've 10 fftl thwbnp and p￿art￿ lorwhen Ihey ft￿ve bac1¢ ID ELIZABETH FRY CHARITY (Reglstered number: 08606716> For the year ended 31 March 2024 The "Time to Gro￿, therapeutic gardening project was launched in May 2023. The aim of these sessions is to encourage residents lo spend time outside in nature, to learn new skills and lo develop strategies for reducing anxiety and stress. The project complements the existing programme of support already on offer at Elizabeth Fry House which includes access to a substance misuse worker, housin9 and link worker. psychotherapist, creative expression. and yoga as well as sessions on thinking skills, relationships, education. training and employment and health and wellbeing. At the beginning of 2024 we welcomed a new Chef lo the team who is not only creating amazing. nutritious food but is also providing opportunities for residents to work alongside her in the kitchen, thus increasing their skills in cooking, budgeting. and nulrition. In December we held a one-off drumming vffjrkshop which was a huge success. The benefits to music therapy are numerous and include encouraging individual expression, building communication skills, boosllng confidenc8, and helping residents to feel connected to others. Due to this. weekly therapeutic music sessions will be held at the House from April 2024. Whilst women come to us because of their own involvement in the criminal justice system, we recognise they have experienced Irauma, violence. and abuse from others. We provide a trauma Informed environment, where women can access holislic support from a skilled and experienced stsff team. The Enabling Environment Award was obtained by the Charity in March 2024. Enabling Environments is a Quality Mark awarded by the Royal College of Psychiatrists that all Approved Premises are expected to achieve. Environments are assessed against ten areas of work: Belonging. Boundaries, Communicalion, Development. Involvement, Safety, Structure, Empowerment. Leadership and Openness. The Award was made following a thorough assessment process which involved collating over 500 pieces of evidence, analysis of questionnaires completed by staff and residents and an assessment vlsit. Feedback from Assessors was exce51enl, evidencing ihe high quality, skilled vffjrk that is undertaken by the Charity. ExCe￿S from Enablmg EnvImnn￿nt Assessnxnt Rewit 'It ￿ clear that Ihe provmles a s•fe nurtumig enwronnynl lor a eoholt oleonwlex and vulnerab* indivKlual8' Trre are excellenl oppo￿n￿S ft)r re3idenls to thscuss and ￿arn about eonvNn￿at￿)Tr and tssues around *. . rhe Servi￿ appears lo reCOgn￿e Ihe vulneratrlty as well as Ihe nsk ol the cl￿1 gr￿p. Overnll: fhe MwesswJn gNen by Ihe Serv￿ 15 one ofcoryassK)n and enc(wragentni'. The team al Elizabeth Fry House have the eX￿eded key perfomiance indicator targets in our contract with Ministry of Justice. achleving above the national average in all areas. The exception lo this is occupancy which continues lo be a challenge across the women's Approved Premises estate. During 2023-24, 84 women benefitted from a placement at Elizabeth Fry Hous8, an increase from 76 the previous year. Despite this increase, our occupancy had reduced to 56%, a reflection of Ihe increase in women who do nol complete their placement. We are working hard to engage with referrers and partner agencies to ensure that a referral is made to Elizabelh Fry House in all cases where the referral criteria is met. A particular focus is on building relationships with the Court5 SO that sentencers understand that a placement al Elizabeth Fry is a viable alternative to being remanded or sentenced to custody. In addition. vrfe aim to reduce the number of referrals made to Elizabelh Fry House as an emergency or at short notice as we know that pre-release contact with a member of our staff Increases the likelihood of a successful placement outcome. ELIZABETH FRY CHARITY (Regist8red number: 08606716) For the year ended 31 March 2024 Feedback frryn Re3**nls of Ehzabeth Fry Hwse Tr sypwt lyere is greal. I have way since ￿tsaSe. Staff helped a Ill. I have leam* nwch, athy it réamy hel￿d to t*al wrth many ditknill*S il mylrfe.. 'Everyw Ixen so ivelconvng. a*xl I was su￿13e(l by Ihij. The buil*ng is qurte Ik*￿lY WMI lhe￿ ￿ a bi olsp&* 11> the qardens l Mle hawnq arwid mt so Ihar I •m not spendmg • lol of by myselr. geltmg styted. At thè time of writing, we have submilted an application for a new contract via the commis81oning process that will result in new contracts being awarded lo deliver an Approved Premises for women in a number of regions including South-cenlral where Elizabeth Fry House is located. l am proud of the role the Charity has In working with partner agencies lo protect the public and provide a safe and supportive environment where women can make significant changes to Ih8ir lives. I hope we are in a position to do this for many years lo come. Fiona Humphreys Chlef Executive Officer ELIZABETH FRY CHARITY (Reglst•red number.. 08606716) REPORT OF THE BOARD OF TRUSTEES The Board of Trustees is pleased to present its Annual Report together with the Financial Statements for the year ended 31 March 2024. The Financial Statements have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice, Standards of Recommended Praclice (SORP 20051. the Charities Act 2011. Companies Act 2006 and the goveming document8. The Charity runs as an Approved Premises, governed as a limiled company charity under its 2013 constitution when the predecessor"Elizabelh Fry Home" (governed by a 1925 Private Act of Parliament) was incorporated. The Charity is also governed by the requirements of the Offender Management Act 2007 and Offender Management Act 2014. From 1 April 2024 the Charity entered a new two year contract exiension with Ministry of Justice to provide and manage the Approve(I Premise5. As of the preparation of this report, the Charity has recently submitted a tendering documenl for the next contract wlh the Ministry of Justice. The process for Ihe new conlract negotiations is diFferent to previous years and allows organisations who are not currently running an Approved Premise. The Charity continues to operate the Approved Premises in accordance with the Ministry of Justice Contract and Service Our Purpose, mlsslon and actlvltles When the Charity was founded in 1853 as the Elizabeth Fry Refuge, the orlglnal objects were in line with the social situation of the day. and the application of these objectives has been kept in line with the changing situatlon of today. The purpose of the Charity 18: "For the publlc benefit to facilitate the care of 8lleged offenders and offenders and their rehabilitation. The Charity's mission statement Is as follows.. 'To accommodate, support and provide opportunilies in line with Elizabeth Frls original ethos.. We believe that everyone.. - is capable of change shoud be listened to and Ireated wilh respect. deserves lo live and work in a safe environmenl -should be treated fairly and consistenily The Charity runs the Elizabelh Fry Approved Premlses, a 24 bed Mlnlstry of Jusllce approved hostel for women in the crlminal Justice system. The Approved Premises provides accommodation. support and moniloring for women on licence, bail or community sentence and who are assessed as posing a medium to high risk of causing serious harm lo olhers. The Charlty provides a struclured regime of inlervenlions aimed at enabling residents to begln to address the issues that led lo their offending and empowering them to make positive changes to their lives. Over the pasl year Ive have achieved an average monthly occupancy of 56Q/o (2022-23.. 74%). Occupancy levels are dependent on the number of women being referred to the Charity along wilh successful move on rales and any recalls which may occur, and is out of Ihe control of the Charity. We aim to achieve high occupancy rates through ongoing work lo develop effective thvrking relationships with referrers in prlsons and the NalionaS Probation Service. Organisation The slaff team is led by a Chief Executive Off￿er, who is responsible for working with Trustees to develop the Charills slrategy and oversee its implementation. The CEO reports to the Truslees. The Operations Manager. wth the Resettlement and Support Manager. a￿ supporled by a team of professional and household staff, and responsible for the day-Io-(lay running of the Approved Premises. The Charitys Finance Manager Is responslble for all aspects of the organisation's finances and, alongside the CEO, for developing and maintaining monitoring systems and financial policy and procedures. The Referral and Support Manager, responsible for pr￿Ssing referrals to the Approved Premises and for the physical slate of the building, is the final member of the management team. ELIZABETH FRY CHARITY (Registerod number: 08606716) REPORT OF THE BOARD OF TRUSTEES (Cont'd.) Organlsatlon (Cont'd) Trustees are led by the Chair. who is responsible for ensuring the Charity pursues its charitable purposes and the Board fulfils its responsibilities for governance. The Charily operates the following committees which each focus on a specrfic aspect of the running of the Charity and report back to the full Board: Finance People & Safeguarding There is a rigorous and robust recruitment process for new Truslees. Pot8nti21 Trustees apply by completing an application form and skills summary. The next step is to be invited for a discussion with the Chalr of Trustees and CEO. If successful, potential Trustees are then asked to meet with Iwo current Truslees and to observe a Board Meeting. References and a OBS check are obtained before an Indivldual is form211y appointed as a Trustee. There is an inductlon programrne for new Trustees and ongoing training opportunities inclLJding an annual "AVRY Da￿. Flnances Overall Elizabeth Fry Charlty has had a successful year to 31 March 2024. The Charity had a reduclion in its dofined benefrt pension scheme deflcit of £158,000 and continues to maintain a level of available funds deemed sufficient to meet three months of operating costs, From 1 April 2024 the Charity entered into a bNo year contract extension with the Ministry of Justs'ce. which makes up 830h of our total income and giving us certainly until March 2026. The three relevantly qualified managers of Elizabeth Fry Charity may participate in the Royal County of Berkshire pension lund, part of the Local Govemmenl Pension Scheme, which is a mulli-employer deflned beneflt scheme. All other staff are auto4nrolled in a defined contribution scheme run by NOW Pensions, for which the Charity in 2023- 24 made an employer contrlbulion of 50A. The day to day running of the Approved Premises continued lo be funded through our contract wllh the Ministry of Justice. Hov￿Ver, Trustees felt strongly that, In Order to provide an effective and supportive seniice to our residents, this needed lo be enhanced by the provision of additional services and opportunities. Trustees were therefore indebled to our many financial contributor5 who gave 50 generously over the financial year, We feel we should make special mentK?n of Ihe following benefactors in our accounts: Albert Hunt Trust To contribute towards funding the Housing & Link Worker. To further the purpose of the Charity. To ¢ontrlbute towards furKling the Housing & Llnk Worker, To contribute lowards funding the Outreach Worker. To contribute iowards funding the Housing & Link Worker. To further thè purpose of the Charity. To contribute towards funding the Outreach Worker. To further the purpose of the Charlty. To contribule towards funding the Outreach Worker. To contribute towards funding the Outreach Worker. To fund Argos vouchers for residents who successfully move on in lo the community. To fund a Therapeutic Gardener working alongside residents to improve their emotional and physical wellbeing. BD Tomlin8 B•rk8hlre Comrnunlty Foundatlon Debtors Relief Fund Englefield Trust Gowling WLG Charltable Trust Highway One Trust Lyn Ellis Foundatlon Rlchor Sounds Foundation Slsters of St Joseph of Peace The Hobson Charity Westhlll Endowment 10- ELIZABETH FRY CHARITY (Registered number: 08606716) REPORT OF THE BOARD OF TRUSTEES (Cont'd.) a year en arc Pay Pollcy for Senior Staff Trustees consider the CEO. Operations Manager, Finance Manager and Referral and Premises Manager to comprise the key paid management personnel of the Charity. All Trustees give of their time freely and no Trustee received remuneration in the year. Staff will usually commence Iheir employment at the boltom of the scale for thelr role and move up one point annu8lly until they reach the top of the scale. However. should recruitment to a specrfic post prove difficult or an applicant demonstrate that they have significant relevant knowledge and skills coming into a role. then consi(leration is given to appointing higher than the boltom of the scale. Annual pay awards for staff are considered by Trustees, taking account of the financial situation of the Charity. the environment in which the Charlty operates and anticipated future events. The pay award for 2023-24 took effect from 1 April 2023 and w.as 30/0. In 2023-24 the Personnel & Safeguarding Committee undertook a review of the the Charity's Common Pay Spine, and as a result The Charity Is satisfied that the pay spine is competitive with pay scales for the National Probation Service which operates most Approved Premises. Elizabeth Fry is a stand alone Charity and noi part of a larger organisation. Consequently, members of Ihe senior management team are expected lo undertake work and hold responsibilities in excess of those held by their peers in NPS and this is iaken into a¢￿Unt in setting the actual salary band for each of the four posts covered by thls policy. Rlsk review Through day to day management arrangements, Board and committee meetings, the Trustees and CEO keep the Charity's activities under review. In addition, the Charity undertakes a review of its risk register annually that focuses on the potentral areas of risk thal Elizabeth Fry Charity may be exposed to, the impact of the identrfied risks and the steps that will be taken to mittgate the risks. As of April 2024 Elizabeth Fry Charity entered into a two year contract extension with Ihe Minislry of Jusllce, whlch provides the Charity with financial security. As at the year end a tendering process is under way to secure a contract effective from April 2026. Tustees continue to explore strategic opportunities to provide additional services to re$￿ents. Trustees are aware of the ongoing costs of maintaining the building to an accepiable standard and have separate designaled funds for the continuing utFkeep and refurbishment of the premises to acknowledge this. Inv•slm•nl policy The overall investment objectives of Ihe Charity are to create sufficient funds through income and capital in order to enable the Charity to carry out its purposes consistently, year by year and with dué and proper consideration for future needs. As a result of a review of Ihe investments in 2017-18, the Charty appointed Evelyn Partners (was Smith & Williamson) as advisors for its portfolio. Trustees believe the portfolio held with Evelyn Partners has been invested prudently to achieve both income and capital grovrth and the Charills investment performance is monitored by the Finance Committee on a minimum hatf-yearly basis. ELIZABETH FRY CHARITY (Re9iStered number: 08606716) REPORT OF THE BOARD OF TRUSTEES Icont'd.) Reserves pollcy Trustees have examined the Charitvs requirements for reserves in the light of the main risks to the Charity, and, during the year, conducted the annual review of the level of free reserves required lo lake account of any imm8diate cash flow implications. Elizabeth Fry Charity recognises the need lo hold charitable funds as free reserves in order to safeguard continuily of provision of required services to women, nearly all of whom will be subject lo licence conditions following their release from prison, and lo fund periods of unexpected expenditure in excess of income received., In order to ensure stability, adequate contlngency funds should always b8 available. Trustees have agreed a Reserves policy that requires reserves to be rnainlained at a level Ihat allows core activities lo continue for a period of unforeseen difficulty. Ellzabeth Fry Charity aims lo maintsin the equivalent of three months of operating costs as available fund5 (£321,222}. Th8 decrease in the penslon deficlt liability has an impact on the Charltys available funds. As at 31 March 2024 the Charity has fifteen months of operating ¢05ts (2023- seventeen) within Its level of general reserves. The level of reserves held to support the Charlty Wlth any investment or unexpected expenditure without impactin9 its day to day operations. Trustees continue to rnonitor the pension scheme deliclt. The pension scheme deficit at 31 March 2024 Is £111,000, decrease of £158,000 compared with 31 March 2023. The pension deficit liability at 31 March 2024 does not result In an immediate cash flow impact for Elizabelh Fry Charily. The actuary conducts a Irlennlal valuation of the Local Government Pension Scheme. and sets the employer's pension contribution rate so as to ensure the deficit is made good over ts'me. The next triennial revaluation is scheduled frs March 2026. The general reserves of Elizabeth Fry Charity a￿ mainly represented through the value of land and buildings, Investments. cash and offset by its pension deficit. Publlc ben•fit As a charity registered in England and Wales, the charitable company also reports in accordance V￿th the Charity Commission for England and Wales, guidance on public benefit and the Charities Act 2011. The Charity advances community development by rehabilitating women offenders for the benefit of individuals, businesses and sociely in general, who bear the economic costs of crime. Our activities are organised to ensure that the risk of harm residents pose is well-managed, their likelihood of reoffending reduced and their vulnerability addressed. Wllhout compromising those objectives, we will not place unnecessary restrictions on those who access our 5ervlces. Envlronm•nt and Sustainablllty As part of our Five Year Plan, Trustees strive to continue to improve the environment for both residents and staff. With the ongolng increase in energy pnces, an energy efficiency survey was completed in December 2022. The findings of this r8POrt has identified the following steps that the Charty can take lo improve it's energy usage.. Installatlon of 60+ so13r panels to our roof space. Complete a window survey identifying those that are in need of replacing. Insulate loft and eaves hatches. During the year, the Charity obtained a borescope suryey to identify which external walls can be insulated and completed roof Insulation to single slorey areas of the bullding. The Charity also complies with the Ministry of Justice's Environmental Policy in order to meet our contract obligations. 12- ELIZABETH FRY CHARITY (Registered number: 08606716) REPORT OF THE BOARD OF TRUSTEES (Contd.) ort e year en rc Board of Trustees, respon$lbllltios in relation to th• financial statements Company law requires the Trustees lo prepare financial statements for each financial ￿ar, which glves a true and faif view of the state of the Charity as at the balance sheet date and of its incoming resources and application of resoufces, induding Income and expenditure for the financial year. In preparing those financial statements. the Trustees are required to: select suilable accounting policies and then apply them consistenuy.. make judgments and estimates that are reasonable and prudent,. state ￿ether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements,. and prepare Ihe financial statemenis on the going concern basis unless it is inappropriate to presume that the Charity will continue on that basis. The Board of Trustees is responsible for maintaining proper accounting records which dlsclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with th8 Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taklng reasonable steps f¢x the prevention and detection of fraud or other irregularitiés. The Board of Trustees confirm that so far as they are aware, there is no relevant audit Information of which the Charlvs audllors are unaware. They have taken all the steps that they ought to have taken as trustees In order to make themselves aware of any relevant audit Information and lo establish Ihat the Charity's auditors are aware of that information. Approved by the Board of Trustees on 17 September 2024 and signed on its behalf by.- Mr A J Rolley (.. 13- ELIZABETH FRY CHARITY (Reglstered number: 08606716) Rep.oLOLth￿l￿p￿￿de.[￿dItQrtsthQtkne￿CuSte.eS_- For the year ended 31 March 2024 Oplnlon We have audited the financial statements of Elizabeth Fry Charlty (the 'charitable company,) for the year ended 31 March 2024 which comprise the Slalemenl ol Financial Aclivilies, the Balance Sheet and the Cash Flow Stalement and notes to the flnancial statements, including a summary of significant accounting policies. The financial reports'ng framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standards. including FRS 102 "The Financial Reporting Slandard applicable in ihe UK and Republic of Ire18nd' (United Kingdom Generally Accepted Accounting Practice). In our oplnlon the financlal st81ements: give a true and fair view of the stale of Ihe charitable ¢ompany's affairs as at 31 March 2024 and of its incoming resources arKI application of resources, Including Ils Income and expenditure. for the year then ended,. have been Properly prepared in accordance with Unlted Klngdom Generally Accepted Ac¢ountlng Practice,. and have been prepared In accordance V•ith the requirements of the Companles Act 2006. 8asls for oplnion We conducied our audit in accordance wlth Intemalional Standards on Auditln9 {UKI (ISAS (UK)) and appllcable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements sectlon of our report. We are independent of the charltable company In accordance with the ethical requirements that are relevant to our audlt of the financlal statements in the United Kindgom, including the Financial Reporting CounGil's Ethical Standard, and we have fulfilled our ethi¢al responsibilities in accordance with these quirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our audit opinlon. Conclusions relating to golng ¢oncorn We have nothing Io feport in respect of the following m8tt8rs in whlch the ISAS (UK) requlre us lo report lo you where.. Ihe Trustees. use of the going concern basis of accounting in the preparation of the financial statements is not appropriate, Of the Trustees have not disclosed in the financlal stalemenls any identified material uncertalnlies that may casl significant doubl about the charilable company's ability lo continue to adopt the going concern basis ol accounllng for a period of al least IN4elve months from the date when the finanaal stalements are aulhorised for issue. Other inlorfnatlon The Trustees arè responsible for the other information. The Other information compiises the information included in the annual report. other than the financial statements and our auditor's report Ihereon. Our opinion on the financlal staternenls does not cover the other information and 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 olher infom)ats'on and. in doing so, consider whelher the other informatlon is materlally In￿nsistent with the financial stslements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such malerlal inconsistencles or apparent material rnIS5tatemenls, we are required to determine whether there is a material mlsstalement In the financlal statements or a malerial misslatemenl of the other infomation. If. based on the work we have perfomad. we conclude that there is a material misstalemenl of Ihis other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters where the Charitie8 (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. Ihe information given in the Trustees, Report is ir￿nSiStent in any material respect wlth the financial stalements: or the charitable cornpany has not kept sufficient accounting records,. or the charitsble company ffinancial stalements are not In agreement with the accounting records and returns," or we have not received all the information arKI explanations we require for our audit. 14 ELIZABETH FRY CHARITY (Rogist•red number: 08606716) he TrusteesJCont'dl_.. For the year onded 31 March 2024 Responsibilities of Truslees A5 explained more fully in the Truslees. Responsibillties Statement. 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 satisf1ed that they 9ive a true and fair view. 8nd for such intemal control as the Trustees determine is necessary to enable the preparation of financlal statements that are free from material mlsstatement. whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to conbnue 8$ 8 going concem. disclosing, as applicable, matters related to going ¢oncem and uslng the golng ¢oncem basls of accountlng unless Ihe trustees ellher intend to Ilquidate the charitable cornpany or to cease operations, or have no realistic alternative bul to do so. Auditor's responsibilities for thè audlt of the flnanclal statement5 Our objectives are to obtain reasonable assurance about whether the financial ststements 8s a whole are free from material mlsstatemenl, whether due lo fraud or error, and lo issue 8n Auditor's report that includes our oplnlon. Reasonable assurance is a high level of assurance, bul is not a guarantee thal an audit conducted in accordance with ISAS (UK) wlll always detect a material misststemènt when It exlsls. Misslalements can arise from fraud or error and are considered malerlal il. Indivldually or In the aggregate, they could reasonably be expected lo Influence the economic decisions of users taken on the basis of these financial statements. Because of the Inherent Ilmitalions ol an audlt, thefe Is a risk Ihal we will not detect all Irregularllle$, including those leading to a material misstatement in the financial statements or non STATEMENT OF FINANCIAL ACTIVITIES clu in Ex ndlture Accou For the year ended 31 March 2024 Unrostrlcted Funds Restricted Funds Total Fund8 2024 Notes Income and endowmants from: Donations and legacies Charitable activities Investments 6,978 1,209,461 25,866 6.978 1.404,508 25,866 195,047 Total 1,242,305 195,047 1.437,352 Expèndlture on: Chariiable activities Fundraising 1.256.177 458 92,227 1,348,404 458 Total 1,256,635 92,227 1.348.862 Net galn on investments 27,930 27.930 Net incomel(expenditure) Other recognlsed108ses: Acluarial gain on defined benefit pengion schemes 13,600 102,820 116.420 15 146.000 146,000 Net movement In fundg 159,600 102,820 262,420 Reconclllatlon of funds: Total funds brought forward at 1 April 2023 2,528,056 43,008 2,571,064 Tot•1 funds carrled fornard at 31 March 2024 2,687,656 14S,828 2.833.484 The charlty has no recognised gains or losses in the year other than that shown al)ove. All the above results were derived from continuing operations. The notes on pages 20 to 31 form part of these financial statements 16- ELIZABETH FRY CHARITY (Registered number: 08606716) STATEMENT OF FINANCIAL ACTIVITIES ' Cludin￿On￿and£xp.end1lur￿.AO0O.U￿t} For the year ended 31 March 2023 Unr•strlct•d Funds Restricted Fund8 Total Fund• 2023 Notes Incoma and endowments from: Donations and legacies Charitable activilies Investments 3,010 1,.123,866 22,185 3,010 1.176.229 22.185 52.363 Total 1,149.061 52.363 1,201,424 Expenditure on: Charitable activities Fundraising 1.168,610 1,155 65.216 1.233,826 1.155 Total 1.169,765 65,216 1,234,981 Net (lo85) on inveslments (44,171) (44.171) N•t incomel(expenditure) Oth•r r•cognlsed gains: Actuarial gain on defined benefit pension schemes (64,875) (12,853) (77,728) 15 1,138,000 1,138,000 N•t movern•nt In fund• 1.073,125 (12,853) 1.060,272 Reconclllation of funds: Total funds brought forward at 1 Aprll 2022 1,454,931 55.861 1,510,792 Total fund8 carrl•d forward at 31 March 2023 2,528,058 43,008 2.571,084 The charity has no recognised gains or losses in the year other than that shown above. All the above results were derived from conlinuing operations. The notes on pages 20 to 31 form part of Ihese financial statements 17- ELIZABETH FRY CHARITY (RegiSt•red numbor: 08606716) Balance Sheet at 31 March 2024 2024 2023 Not•s FIXEO ASSETS Tangible assels Investments 1.555,595 705,488 1.588,388 661,287 2,261.083 2,249.675 CURRENT ASSETS Debtors Cash al b8nk and in hand 10 151,119 642.162 34,320 638.856 793.281 673,176 CREDITORS: Arnount8 falllng duo wlthln on• ￿ar 11 (109.880) (82.787) Net currnnt a88ets b•fore penslon schem• d￿l¢It 683,401 590.389 Not ass•t3 beforo penslon gcheme deflclt Pension scheme deficit 2,944,484 (111,000) 2,840.064 (269,000) 15 Net agsets after penslon ¥chem• deficit 2,833.484 2,571.064 FUNDS Reslricled funds Unrestricted funds Designated Funds General Funds 145,828 43.008 1,095,579 1,592,077 2,833,484 760.611 1.767.445 2,571.064 13 The flnancial statements were approved and authorised for issue by the Trustees on 17 September 2024 and signed on its behalf by'.- Mr A J Rolley (Chair) 18- ELIZABETH FRY CHARITY {Regl8t•red number: 08606716) Cash Flow Statemont for the year ended 31 March 2024 2024 2023 Not•8 Cash gongrated from op•ratlng actlvltl•s 18 59.856 Cash flows from InV￿lIng activities Interest income Investment income Purchase of flxed assets 4,538 S,057 {8,373) 665 6.178 {1. 188) Cash provided by Investlng actlviti•s 1,222 5,655 Increase in cash and cash equlvalents Sn the yèar 3.306 65.511 Cash and cash equlvalents at the beglnning of the year 638,858 573.345 Total ¢a8h and cash •qulval•nt8 at th• •nd of the year 642,162 638.856 19- ELIZABETH FRY CHARITY {ReglStered number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 ACCOUNTING POLICIES a} 8asis of Accountlng The financial statements of the charitable company have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies AGt 2006. b) Going concern The Trustees have a reasonable expeGlalion that Ihe Charity has adequate resources to continue its activities for the foreseeable future after securing a tr4VO year contract extension wilh the Ministry of Justice Accordingly, they continue to adopi the going concern basis In p￿parIng the financial statem8nls as outlined in the Slalement of Trustees, Responsibilities. c) Income All income is recognised in the year In which they are ￿CeIVable. Ministy of Justlco The Minislry of Justice funds approved premises under a contract agfeement, Government Grants Government grant income is recognised in the year in which it is receivable and treated as restricted funds. Interest recelvable and Investment Income Interest receivable and investmenl income is recognised In the year in which It is receivable. Donatlons Donations subject to specific wishes of the donors are treated as restricted fun(fs. Resld•nt Malntenan¢e Gh•rg• While at Elizabeth Fry House a weekly maintenance charge is paid by residents as a contribution to their food, accomrnodation and utility co8t8. d} Expenditure Expenditure is included on an accruals basls Inclusiv8 of any VAT which cannot be recovered. All costs are considered to be direct charitable costs except the governance costs which relate to the running of the Charity. e) Fund Accounting Unrestricted funds are available for use at the discretion of the Trustees In furtherance of the objeclives of the Charty- Designated funds are 'unrestrlcled' funds allocated by the Trustees for particular purposes. Restricted funds are those donated for use in a particular area or for specrfic purposes. f) Penslon In respect of some staff the Charity contributes to a superannuation scheme at rates Set by the scheme actuary and advised to the Charity by the scheme administrator. -20- ELIZABETH FRY CHARITY (Reglstsred numbor: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) JJLthQwaLende￿3A￿￿e1L20 ACCOUNTING POLICIES {CONTINUED) h) Tanglblo Fixed As88ts (i) Depreciation is provided on all tangible assets in order to write off their cosuvaluation less residual value over Ihelr estimated useful lives at the followtng rates., Freehold buildings SO years (20/0) straight line basis Building improvements 10 years (10%) str8ighl line basis Fixtures and fittings 5 17 years {200h114%1 straight line basis Computer equipment 3 years (330AI straight line basis (li) Assets with a value of £5,000 or more are capitalised. Furniture and equipment are written off In the year of purchase, as thes8 are deemed to not have a lon9 useful lrfe. (iii) Land and Buildings were last revalued In 2020 and will be revalued every 5 years from 31 March 2020 or rf Trustees deem any material change in markel value before thls time. i) Tax The company is 8 regIste￿d charity. It has no liability to Corporation tax on bank interest received provided the income Is spent on its charitable activities. j) Inv•stments Investments are included at closing mid-market value al the 8alan¢e Sheet date. Gains or losses on revaluation or on disposal are taken to the Statement of Financial Acts'vilie8. JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the applicatlon of Ihe charltvs accounting policies. which are descrlbed in note 1. Trustees are required to make judgernents. estimates and assumptions about the carrylng values of assets and Ilabilitles that are not readily apparent from other sources. The estimates and undertying assumptions are based on historlcal experience and other factors Ihat are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revislons to accountin9 estimates are recognised in the period in which the estimate is revised rf the revision affects only that period or in the period of the revision and future periods if the revision affects the cuffent and future periods. INCOME FROM CHARITABLE ACTNITIES Unrestricted Funds R￿trIcted Funds Total 2024 Total 2023 Mlnlstry of Justice Other Residents maintenance charge Grant income Sundry income 1.197.455 1,197,455 1.110,081 11,821 11,821 194.572 660 13,565 51.609 974 194.572 475 185 1,209.461 195,047 1,404,508 1. 176,229 2023 1.123.866 52,363 1.176,229 ELIZABETH FRY CHARITY (Reglstered number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (contd) INCOME FROM INVESTMENTS Unrestrlctod R•strict•d Funds Funds Total 2024 Total 2023 Investment income Gainl(loss) from sale of investments Bank interest 22,063 (735) 4,538 22,063 (735) 4,538 20.237 1.283 665 25,866 25,866 22,185 2023 22,185 22,185 TOTAL RESOURCES EXPENDED Direct Costs Total 2024 Total 2023 Governanco Salary cosls Agency staff Prern ises expenses Repairs and improvements to prernises Insuranc6 Provlsions Equipment costs Household expense8 Medical expenses 890.309 74.610 56.212 87,599 23,611 22,384 3,277 14,602 2.529 36,033 926.342 74,610 58,212 87,599 23,611 22,384 3,277 14.602 2,529 87Q.014 2Q.234 16.306 65.999 20,627 17,412 3.428 t5,213 3.528 vi".ji Residents, expenses Residents, counselllng Residents, activities Staff trainlng Recruitment costs Staff travel and expenses Residents, Iravel expenses Telephone and fax costs ststionery and postage Bank Charges Finance costs (pension) Sundry expense5 Legal and professional fees Audtt and accountancy fe88 Charity and trustees expenses Markeling and advertising costs Depreciation Activity fund Fundraising costs 7,045 4.352 13,962 10,405 12,104 7.169 3,558 792 6,644 145 (12,000} 1,601 23,453 7,045 4,352 13,962 10,405 12,104 7,169 3,558 792 4, 270 3.241 6.409 12.340 5.051 4,661 f,25T 1.104 6.229 142 85,OQO 1,171 30. 140 9.000 3.178 2.017 45,061 794 1. 155 145 (12,000) 1,601 23,453 9,000 2,806 4,485 41,166 551 458 9.000 2,806 4,485 41,166 551 458 1,301.023 47,839 1,348,862 47,839 (47,839) 1,348,862 1.234,981 Governance costs 1,348,862 1,234,981 2023 1, 189.086 45.895 1.234.981 45,895 (45.895) 1..234,981 1.234,981 -22- ELIZABETH FRY CHARITY IRegisterod number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS fcont'd) -ePtIw-yeaMnded44-MaF¢IQII EXPENDITURE 2024 2023 Net income is stated after charging: Depreciation Pension costs Audit fees Trustees, expenses 41,166 68,447 9.000 2,806 45,061 63.478 9.000 3.178 STAFF COSTS 2024 2023 Wages and salaries Social security costs Superannuation costs 794,815 65,280 86,447 741,086 65,452 63,476 926,342 74,610 870,014 20,234 Agency Staff 1,000,952 890, 248 No. No. The average number of employees during Ihe year was.. The average number of FTE ernployees during the year was: 32 19 19 No. No. Number of employees, whose employee benefts (excluding employer pension costs) lolalled.. £60,000 - £70,000 None of the Board of Trustees received any remuneration other than the reimbursement of travelling expen88S tolalling £2,808 (2023.. £3,178). The total of employee benefits (salary and ernployerfs pension contribution) paid to the senior leadership team in the year tolalled £21g.126 (2023., £208,075). Key management personnel are deemed to be the senior management team as disclosed on page 3 of the accounts. -23- ELIZABETH FRY CHARITY {Reglstered number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) or4he-year-eAded.3I￿arEha024 TANGIBLE FIXED ASSETS Computer Equipment Freehold Property Flxiures & Fittings Total Costlvaluatlon At 1 April 2023 Additions Disposals 1.529 1.680,000 85,461 8,373 {3,695) 1,746.990 8,373 (3,695) As at 31 March 2024 1,529 1.660,000 90,139 1,751.668 Depreciation At 1 April 2023 Charge for the year Disposals 1.529 92.198 29,115 64.875 12,051 (3.695) 158.602 41.166 (3,695) As at 31 March 2024 1.529 121,313 73,231 196,073 Net Book Value As at 31 March 2024 1.538,887 16,908 1,555,595 At 31 March 2023 1,567,802 20,586 1.588.388 Historical cost 843.871 FIXED ASSET INVESTMENT 2024 2023 Quot•d Inv•stments Market Value: At 1 April 2023 Income reinvested Unrealised inveslment gainl{loss) Gainl(loss) from sale of investments Fees 661.288 22,758 27.930 (735) (5,752) 690,116 19.855 (44. 171) 1.283 (5. 795) At 31 March 2024 705.489 661,288 Hlstorlcal cost 640.568 582.533 -24- ELIZABETH FRY CHARITY (Regl8t•rad number: (M606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) th&year-ende¢L3Ular.C￿21>24 FIXED ASSET INVESTMENT (CONTINUED) 2024 2023 Shares are held in: Smith & Williamson - Bonds Smith & Williamson- Alternatives Smith & Williamson- Property Smith & Williamson- Multi-Asset Smith & Williamson- Equities United Klngdom Smith & Williamson- Equities Global Smlth & Williamson - Equilies Overseas Smllh & Wllliam80n - C88h 130,068 42,897 44.384 17,519 162,501 280,599 20,385 7.136 97,520 29, 790 70,483 161,336 285,360 285,360 16,799 10 DEBTORS 2024 2023 Prepaymenls Other debtors 41.701 109,418 29,480 4. 840 151,119 34,320 11 CREDITORS: AMOUNTS DUEWITHIN ONE YEAR 2024 2023 Trade eredilors Accruals Social security costs and other taxes Other creditors 40,437 21,545 15,689 32,209 25.306 11,368 15,872 30,241 109,880 82,787 12 FINANCIAL INSTRUMENTS 2024 2023 Financial instruments included within the accounts comprise". Financial assets measured at amortised cosl 793.281 {109.880) 673. 184 (82, 786) Flnancial liabilitles measured at amortised cost -25- ELIZABETH FRY CHARITY (Registered number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (contd) For the ear ended 31 March 2024 13 FUNOS Mov•m•nl in Funds - Currenl year Unrostricted Deslgnated Funds Funds Restrlcted Funds Total Funds Al April 2023 Incomlng resources Outgoing resources Realisedlunrealised investment gain Actuarial gain Transfers 1,767,445 1,242,305 (1,228,793) 27.930 146,000 (362.810) 1,592.077 760,611 43,008 2.571,064 195,047 1.437,352 (92.227) (1,348,862) 27,930 146.000 (27,842) 362,810 Balance at March 2024 1,095,579 145,828 2,833,484 Balance at Incoming April 2023 Rosources Outgoing Transfgrs & 8alance al R•sourc•s G•1nsl{Lo￿Q$) March 2024 Activity Fund Counselling Fund Counselling- Oxfordshlre Fund Cookery Fund Substance Mlsuse Worker Fund Charles Hayward Foundalion Housing and Link Worker Fund Berkshire Communlty Foundation Therapeutic Gardener Fund Banham Foundalion Counselllng Fund Worker BCF Housing & Link Worker Englefleld Trust Housing & Llnk Worker Debtors Relief Fund Outrea¢h Worker Rich8r Sounds Foundation Outreach Worker Highway One Trust Outreach Worker Sisters of St Joseph of Peace Outreach Worker Weslhill Endowment Therapeutic Gardener The Hobson Charlty Move on Vouchers Total restricted funds 213 5.472 151 2.634 12.463 475 {5501 (2,333) {1511 (2,458) {37,4631 3,139 176 110.000 135,000 7.845 (7,645 5.000 9.430 (3,104) (1,8691 (7,0001 (5,0001 (2,341) <2.000) 1,896 7.561 7,000 5.000 4,000 2.000 1.659 14.072 9,500 (7.729) (8.110) 6.343 1,390 5,000 {1.474) 3.528 10,000 3.000 195,047 10.000 (3,000) 92,227 43,008 145.828 Unrestricled funds Designated funds Revaluation Fund Capital Fund Mary Phillips Resettlement Fund Pension Fund 971,037 54.937 3,637 289,000 760,611 1.767,445 Total unrestricled funds 2,528,056 (15,296) 955,741 227.106 250.000 5,000 838 146,000 (111,000) 362.810 1,095,579 {188,880) 1.592,077 173.930 2,687.656 (32.043} (7.799) 12,000 127,842} 1,242,305 (1,228,793) 1,242,305 1,256.635) 1,437,352 (1,348,862) Included within the inter-fund transfers IS £15,296 which represents the amount of d8pre¢iallon ￿allocated on the revalued element of the propety. Total designated funds General fvnds 2,571.064 173.930 2.833,484 -26- ELIZABETH FRY CHARITY (Reglstored number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) FO￿*￿048ar4nded4a￿￿aF¢l¥2024 13 FUNDS (CONTINUED) Alovement In Funds - Prlor year Unrestricted Designatad Restricted Funds Funds Funds Total Funds At 1 April 2022 Incoming resources Outgoing resources Realised/unrealised investment gains Actuarial gain Tr8nsfers 1, 799,308 (344,377) 1,148,561 500 (1.093.549) (76,216) (44.171) 1. 138.000 (1, 180.704) 1, 180,704 1,767.445 760,611 55,861 52,363 (65,216) 1,510.792 1.201.424 (1.234.981) (44.171) 1. 138,000 Balance at 31 March 2023 43,008 2, 571,064 Restated Transfers Balance at Incomlng Outgolng & Galns/ Balance at l Aprll 2022 Resources ResourGes (Losses) 31 March 2023 stricte Actwity Fund Counselling Fund Counsglling- Oxfordshffe Fund Cookery Fund Subslance Misuse Worker Fund Charles Hayward Foundatlon Housing and Link Worker Fund B8rkshlr8 Communlty Foundatlon Outreach Worker Fund Bgrkshire Community Foundation Therapeulk Gardener Fund World Day ol Prayer Outreach Worker Fund Banham Foundation Counselling Fund Total restricted fvnds 253 8.713 151 2. 750 35.796 754 (794) (3,241) 213 5,472 151 2,634 12,463 (116) (23.333) 8.198 24,000 (24,553) 7.645 5.000 (5,000) 8.179 9,430 52,363 (8. 179) 9,430 43.008 55,861 65,216 Unreslri ted funds Designated fijnds Revaluat￿￿ Fund C8PIt81 Fund AP Development Fund Resident Pathways Fund Mary Phillips Resettlement Fund Pension Fund 986,333 8.297 7.563 1.430 (15, 296) 50.000 971,037 54,937 (3.360) (1,563) (1.430) (4,863) 8,000 1,342.000 (65, 000) 1. 138,000 {344,377) (76.216) 1. 180. 704 1. 799.308 1,148,561 (1,093.549) (86,875) Total unrestricted funds 1,454,931 1, 149,061 (1,169. 765) 1,093.829 500 3,637 269,000 760.611 Tot81 deS￿nated funds 500 Gener81 funds 1.767,445 2,528,056 1,510.792 7,201.424 (1,234,981) 1.093,829 2,571.064 Included within the inter-lund transfers is £15.296 which represents the amount of depreGiation reallocated on the revalued element of th8 Ixoperty. -27- ELIZABETH FRY CHARITY (Reglstered numbor: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) r-the-year4nded414laFcl¥2fj2 13 FUNDS {CONTINUED) Restrlct•d Funds comprise: Activity Fund Financed by weekly payments from the residents, with residents deciding how the monies are to be spent. Gounselling Fund The provision of counselling services provided to the residents. Cookery Fund To provide cookery classes for residents. Substance Misuse Worker Fund To fund the position of a Substance Misuse Worker for four years from April 2024. Berkshire Community Foundafion Therapeulic Gardener Fund To fund a Therapeutic Gardener Nvorking alongside residents to improve their emotional and physical wellbeing. Banham Foundation Counselling Fund The provision of counselling se￿ICeS provided to the residents. Englefield Trust Housing & Link Worker To contribute towards funding Ihe Housing & Link Worker. Richer Sounds Foundation Outreach Worker To contribute towards funding the Outreach Worker. Highway One frust Outr88ch Worker To contribute towards funding the Outreach Worker. Sist8rs of St Joseph ol Peace Outreach Worker To contribute lowards funding the Outreach Worker. Westhill Endowment Therapeut￿ Gardener To fund a Therapeutic Gardener working alongside residents to improve their emotional and physical wellbeing. D•slgnat•d Funds comprise: C8Pltal Fund To fund the creatlon of a Safer Room in addition to other future prolects at the Approved Premises. Mary Phillips Resettlemenl Fund Fund set up in memory of Mary Phillips lo help aid successful 'move on, for residents. .28- ELIZABETH FRY CHARITY (Reglstered number: 08606710) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (eont'd) d￿l41-Mar￿¥2o2 14 ANALYSIS OF NET ASSETS BETWEEN FUNOS Net As8•t8 - Curr•nt year Unrestrlctad Funds Deslgnated Funds Restrlcted Fund8 Total Funds Fixed assets Investments Net current assets Pension scheme deficil 599.854 705,488 397,735 (111.000> 955,741 1,555.59S 705.488 683.401 (111.000) 139.838 145,828 1,592.077 1,095.579 145.828 2,833,484 Net Assets - Prlor yur unrn$trIct￿ De8lgnated Funds Funds Restrlcted Funds Total Funds Fixed assets Investments Net current assets Penslon scheme defiGIt 617,351 661,287 757,807 (269,000) 971,037 1,588.388 661.287 590,389 (269,000) (210,426) 43.008 1.767,445 760,611 43.008 2.571.064 15 PENSIONS The three relevantly qualified managers of Elizabeth Fry Charity may participate In the Royal County of Berkshire Pension Fund, part of the Local Government Pension Scheme, which is a mulli-employ8r defined final salary statutory scheme. The Fund is administered by the Royal Borough ol Wlndsor and Maidenh8ad, In accordance with the L¢)cal Government Pension Scheme. The most ￿cent formal review of Ihe Scheme was carried oul by Barnett Waddingham and covered the three years to 31 March 2028 Contributions lo the scheme are charged to the statement of financial activities so as to spread the cost of the pensions over Ihe employees, working lives with Elizabeth Fry Charlty. The movement in value of the pension deficlt has been fully reflected within the actuarial loss on the scheme. 2024 2023 A8sumpiions Salary increase Pension increases (CPI) Discount rate 3.90°/0 3.90% 2.90% 4.800A -29- ELIZABETH FRY CHARITY {Registered number: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) Fok*hèweaFended.3tMar¢hQ024 15 PENSIONS (CONTINUED) 2024 £'ooo 2023 Fair Value of Assets Public Equities Private Equities Infrastructure Real Eslale Credit Longevity insurance Cash 1,031 212 226 164 237 (81} 17 835 205 228 209 241 (86) 25 Total 1.806 1,657 Not Pen81on Liablllty Estimated employer assets Present value of scheme liabilitles 1,808 (1,917) 1.657 (1.926) Not Ponslon Llability (111> (269) Th• reconclllatlon of aAs•ts was: Opening fair value of assets Interest on assets Return on assets (less interest) Adminislralive expenses Contributions by employer Contributions by scheme participants Estimated benefits paid net of Iransfers In Other actuarial (losses)Igains 1,657 1.878 43 (41) (2) 44 12 (70) (7) 67 {2) 13 (55) Fair va5ue of assets carried forward 1,806 1,657 The reconcillalion of llabll1tl￿ was:. Opening scheme liabilities Currenl service cost Interest cost Change in financial assumptions Contributions by scheme participanls Estimated benefits paid net of transfers In Change in demographic assumptions Experience (105s)1gain on defined benelit oblig8tion {1,926) 121) (91) 60 (13) 55 25 {6) (3.020) (72) (78) 1.485 (12) TQ io (309) Prasent value of scheme Ilabilities 1,917 1,926 ELIZABETH FRY CHARITY (Registered numbor: 08606716) NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) ded-SFMaFGhQ024 15 PENSIONS (CONTINUED) Analysls of amounts to be recognised in gains and losses sectlon of SOFA: 2024 £'ooo 2023 Actuarial Galn In Scheme 1, 138 Hlstory of experlence gains and1098e8 Defined Benefit Qbllgatlon (1,917) (1,926) Scheme Assels 1,806 1,657 Deficit (111) (269) 16 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOWS FROM OPERATIONS 2024 2023 Net incomel{expenditure) (as per the statement of financial activities) Oepreciation charge Unrealised (gain)Iloss on investments Investment income shown in investing activities (Increase>ldecrease in debtors Increasel(decrease) in creditors Deflned pension scheme (income)l¢harges 116,420 41,166 (27,930) {25.866) {116.799) 27.093 (12,000) (77, 728) 45,067 44,171 (22, 185) (14,090) 19,627 65,000 Ngt Cash provlded In operatlng actlvftl 2,084 59,856 17 RELATED PARTY DISCLOSURES Our Chair, Anthony Rolley, became a Trustee of The Independent National Approved Premises Assoclation Communily Interest Company (NAPA) in April 2019. In the year, the Charity paKI NAPA £6,000 {2023.' £6,000) for a range of seryices including the organising and hosting of meetings with Independent Approved Premises (IAP) managers and Trustees from across England, an annual conference for IAP managers and Trustees and staff training. 31