2023-24
## 2023-24
Annual Report Trustees’ annual report and financial statements for the year ending 31 March 2024
Settle Support, a Charitable Incorporated Organisation (registered number 1162399)
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Settle Annual Report
## Contents
**3** Who we are **4** Chair and Chief Executive’s introductory statement **8** What we do **10** Our 3 year strategy **14** Our impact **18** Who we supported **36** Our goals **38** Financial Review
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2023-24
## Who we are
Credit: Benoît Grogan-Avignon
## Settle is a charity tackling the lack of support for young people as they leave the care system.
Over the last 9 years, we’ve developed an effective model that prevents young people from becoming homeless.
We do this by providing the right support at the right time to young people who face a cliff edge of support when moving into their first home. By focusing on this key transition, we prevent problems snowballing and enable young people to thrive.
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Settle Annual Report
## Chair and Chief Executive’s introductory statement
Our vision is that no young person leaving care should be homeless. Care experienced young people have the right to a stable home and a fair chance of doing well and the challenges this group of young people face are a scandal.
The need for our work has never been greater. In October 2023 the government released new figures showing a 33% increase in homelessness among young people leaving care in the last four years.[1]
Our mission is to reverse this trend. This year marked the second year of our 3 year strategy 2022-25 which is focused on significantly reducing the number of young people leaving care who experience homelessness.
We are proud to have supported 170 young people through The Settle Programme this year which is the most we’ve supported in our history.
Whilst increasing our reach we are pleased to have maintained the high quality of our work.
100% of young people who graduated from The Settle Programme sustained their tenancies this year. Indeed, 88% of our young people feel they have better life skills to avoid eviction, and 96% said they have improved their confidence managing their tenancy.
Those in rent arrears have reduced the amount of money they owe by an average of £1,198.
We continued to support young people’s financial and mental health by providing £21,586 of small grants and therapy sessions to young people who were struggling to make ends meet and the knock-on impact this had on their wellbeing.
We’ve also helped young people achieve remarkable things this year and worked alongside them to set-up firm foundations for the lives they want to lead.
One of our young people told us:
“I learned that help is available, and I actually feel open to support now. I also learned that I can do things for myself that before felt impossible.”
One young person who accessed support through our mental health service with a therapist of his choice said:
“This helped me understand why I feel the way I feel and do the things I do. I feel more ‘whole’ than I have in a very long time.”
Many young people say they face a cliff edge of support when leaving care. So, as we have developed our offer, we have made sure our young people continue to receive support after the end of the programme.
1. Become (2023). _Press release: 33% increase in homelessness among care leavers - Become_ .
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We delivered 6 graduate events last year, including an employment workshop with our partner JP Morgan, a range of social events, and our first graduation ceremony to celebrate young people’s remarkable achievements on the programme.
We also delivered 32 graduate drop-in sessions, which evolved from our initial costof-living crisis response, where our gradutes receive tailored support after finishing the programme.
Developing our advocacy and influencing work has been a key development this year. By speaking with young people and our team, we are combining lived and learned experience, to identify the key issues our community face. This is a new area of work that we are excited to develop so we can explore how we can amplify young people’s voices to create broader systemic change across the country.
The Settle team has continued to grow over the past year and we work hard to deliver our impact.
Supporting our colleagues’ wellbeing and development is a critical part of our strategy as the work we do is tough and we need to attract and retain good people. That’s why we implemented a new benefits package at the start of the year which had a strong focus on supporting the wellbeing of team members with updates to our leave policy and a cost-of-living related review of our pay.
In November, we were thrilled to win the ‘Leaving Care’ Award at the Children and Young People Now Awards 2023 in recognition for our impact. It was wonderful to be recognised nationally for our work and to celebrate this.
Of course, none of this impact would be possible without our fantastic team, generous partners and community of young people.
We’d like to take this opportunity to say thank you to our new and existing supporters who have supported us and share our mission to eliminate homelessness for the care experienced community.
With an increasing number of young people leaving care becoming homeless, our work is more vital now than ever. We are determined to meet this growing need and ensure young people can build the stable foundations they need to move forwards with their lives.
In July 2024, after 9 years at Settle, Rob Trimble stepped down as our founding Chair of Trustees. Rob has been with us since the very beginning and we want to thank him on behalf of everyone at Settle for his leadership, vision and support which has had an enormous impact on the lives of hundreds of marginalised young people in London.
– Sarah Byrt, Chair Rich Grahame, Chief Executive
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OUR VISION
No young person leaving care experiences homelessness
OUR MISSION
By 2025, we will have significantly reduced the number of young adults who leave care and become homeless in the UK
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## OUR VALUES
## Grow the good
We focus on building young people’s strengths, not dwelling on their weaknesses. Strength-based approaches underlie all our work.
## Intentions aren’t enough
We’re a data driven organisation always striving to do better. We’re transparent and take a robust approach to impact measurement.
## Young people first
Young people are at the heart of Settle. We make sure their interests are prioritised above all else – their voices are represented across our organisation.
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## What we do
For many years, young people have told us they face a “cliff edge” when leaving the care system. Just as they transition to adulthood, their support structures change and diminish. By carefully designing a journey of support for young people we ensure there are no abrupt endings.
Young people can access different types of support depending on where they’re at and what they need – which could include developing financial resilience, sustaining a tenancy, and managing emotional wellbeing.
At the heart of this is a dependable relationship with their coach that empowers young people to build the lives they want and avoid the devastating impacts of disadvantage, eviction and homelessness.
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The Settle Programme
The Settle Community
Mental Health and Financial Support
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## ~~THE SETTLE PROGRAMME~~
FOCUS AREAS: money management, tenancy sustainment, wellbeing
DELIVERY: 1-1 weekly support, 1 hour sessions in young people’s homes, remotely or in the community, over average of 6 months
## ~~THE SETTLE COMMUNITY~~
FOCUS AREAS: peer support, reducing loneliness and isolation, support into work and education
DELIVERY: mixed delivery, 1-1 support, group workshops and social events
Our Enhanced Support complements the Settle Programme to provide an additional safety net for all the young people we work with.
~~FINANCIAL HARDSHIP FUND~~
Support for young people who are struggling financially via food vouchers and small grants
~~MENTAL HEALTH SUPPORT~~
Free private therapy for young people who are struggling with their mental health
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## Our 3 year strategy
The Independent Review of Children’s Care found that the disadvantage faced by the care experienced community should be the civil rights issue of our time.[1]
The odds are stacked against young people leaving care as they face an array of challenges as they move into their first home. These young people have to start living independently much earlier than their peers and their transitions out of care are often abrupt and unsupported.
1/3 young people become homeless in the first two years after they leave care[2] and the same amount say that they think they left care too early.[3] Last year, 136,000 young people were at risk of homelessness[4] – and that’s just the figure who approached their local council for help.
We have a clear strategy in place to ensure we deliver our mission. This year has been the second year of our three-year strategy period (2022 —2025) and we remain focused on delivering across our four strategic aims:
Preventing more young people from becoming 1 homeless 3
Build a progressive and diverse organisation that values lived experience
Deepen our impact through Programme development, 2 safeguarding and evaluation
4
Develop our governance, and our financial and operational sustainability
1. Josh MacAlister, 2022. _The independent review of children’s social care – Final report_ .
> 2. All-Party Parliamentary Group for Ending Homelessness, 2017. _Homelessness prevention for care leavers, prison leavers and survivors of domestic violence_ .
> _’_ 3. Ofsted, 2022. _Ready or not: care leavers views of preparing to leave care_ .
> 4. Centrepoint, 2023. _Failure to Act: the Scale of Youth Homelessness in the UK_ .
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“
I don’t think I knew anything before the Programme and now I know how to save on my energy. I know who I can go to for things.
– SETTLE GRADUATE, 2023
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Settle Annual Report
Credit: Benoît Grogan-Avignon
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Our year:
2023-24
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This report highlights our progress against the second year of our three-year strategy and reviews our successes and challenges over the last financial year.
We hope it will inspire many more people to join us in ending youth homelessness in the UK.
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Settle Annual Report
## Our impact
The Settle Programme focuses on providing intensive 1:1 support, built around the young person’s goals, priorities and needs. We use a young person led approach, delivered by a frontline team of accredited coaches.
## Our year in numbers
The Settle Community
Mental Health and Financial Support
6
Community activities hosted across the year
32 £9,717 Graduate drop-ins Financial grants attended across (food, home, digital the year and furniture) shared
177
Hours of therapy, accessed by 19 young people
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## Minimising rent arrears, preventing homelessness
Rent arrears are a key driver of eviction and homelessness. The Settle Programme supports young people to reduce and manage their arrears and money.
41% of our graduates started the Programme already in rent arrears. For graduates that shared their rent arrears status at the start and end of the Programme, we saw the following outcomes:
75% had completely cleared their arrears by the end of the Programme. A further 21% had reduced their arrears.
We supported young people to clear a total of £25,168 in arrears, an average of £1,198 per person.
64% of those that were in arrears at the start of the Programme set up payment plans to help them manage their repayments.
## Skills and tools for the future
Building on our external evaluation with the New Economics Foundation (NEF) and our 3-year partnership with Rocket Science, our evaluation is based on young people reporting the following outcomes:
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93%
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My knowledge of money related
topics has improved
85%
79%
I know what coping I have improved my finances,
mechanisms I can use such as dealing with
debt and rent arrears
during challenging situations
100% 96%
I feel confident that I I feel more confident
would access relevant in managing my tenancy
support and guidance
in the future
88% 88%
On the whole I am I have better life
more satisfied with skills to help me
how I handle things avoid eviction
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## Noah’s story*
Shortly after moving into his flat and starting the Settle programme, Noah left his job. He started claiming Universal Credit but started getting into rent arrears whilst he waited to receive his first payment.
Because he was unemployed, Noah struggled to afford his utility bills and wasn’t able to maintain repayments for previous loans he took out. He started to accumulate debt, which resulted in warnings of debt enforcement. Not being able to afford his bills stopped him from moving into his flat full-time. This is because living independently at that time felt too overwhelming and he didn’t feel able to manage that on his own, especially with the knock-on impact on his mental health.
Working with Alice, a Senior Settle Coach, Noah engaged consistently with coaching over the course of 6 months. This resulted in getting a dream job at an iconic landmark London restaurant that he always wanted to work for.
Noah created a monthly budget to work out what repayment plans he could afford, and regularly communicated with his creditors. Noah set up repayment plans for all his debts and cleared his rent arrears of £1,300.
By the end of the programme, he moved into his flat full-time as he felt he could manage on his own. Alice also supported him to apply for grants for flooring, to furnish his flat properly.
“With Settle's support I started to view my flat as more than just storage space. Now, I adore it. It's rugged but charming. It's my humble abode. I actually look forward to going home now. I think - I can't wait. There are no arguments there. And I can actually sleep.”
As Noah struggled with his mental health, this impacted his ability to manage his day-to-day tasks independently. He initially received mental health support from elsewhere that he didn’t find helpful.
Through Settle’s mental health support offer, he accessed a therapist of his choice, which he said helped him to ‘understand why I feel the way I feel and do the things I do.’
Reflecting on his learnings at his graduation lunch (pictured left), he said:
“Don't feel embarrassed about seeking help from Settle. There are just some things that you or I don’t know but they do, which can help with a lot of things down the road. What you learn from them will be transferable through most aspects of life.”
*Name has been changed for privacy.
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Settle Annual Report
## Who we supported
## Number of Young People
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1-9
10-19
20-35 Enfield
Barnet
Harrow
Haringey Waltham
Forest Redbridge
Brent Havering
Camden Islington Hackney
Hillingdon Barking and
Newham Dagenham
Tower
Ealing Hamlets
Westminster
Southwark Greenwich
Hounslow
Lambeth
Richmond
upon Wandsworth Bexley
Thames
Lewisham
Kingston Merton
upon
Thames
Bromley
Sutton Croydon
Cambridge
Kent
Kensington
and Chelsea
and FulhamHammersmith
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2023-24
## Ethnicity
Worldwide Asian Caribbean Arab White British Black British Kurdish White Other Black Middle Eastern Mixed Ethnicity African
## Gender
Women Men
## Sexuality
6%
Gay Pansexual Androsexual Bisexual Straight
Identify as trans
13%
Experience of criminal justice system
## Age
22-25 19-21 18
36%
Experience of refugee / asylum system
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Settle Annual Report
Credit: Colin Miller for Children & Young People Now Awards 2023
In November, we were thrilled to win the Leaving Care Award at the Children and Young People Now Awards 2023. With over 500 entries to the awards and only 24 category winners, this represented a great achievement for us and a valuable opportunity to raise our profile.
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“ I liked how reliable it is, and getting all the support I was entitled to. I’m happy that I have managed to look after myself better whilst having more responsibilities”
– SETTLE GRADUATE, 2023
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1
Preventing more young people from becoming homeless
Credit: Benoît Grogan-Avignon
What we said we’d do
- Increase our reach to prevent more young people at risk of homelessness.
- Secure new referral partners to work with more young people.
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2023-24
## What we did
- We supported 170 young people, including 112 new young people and have delivered 1483 one-to-one support hours. This compares to supporting 167 young people, including 129 new young people and delivering 1,403 support hours in 2022/23. We’ve therefore slightly increased our reach and hours.
- We worked with 8 partners (5 local authorities and 3 housing associations).
- We were pleased to agree multi-year partnerships with Lambeth and Hammersmith and Fulham Councils which provide stability and continuity of care to young people going forward. We also renewed partnerships with our 3 other local authority partners and one Housing Association partner.
- What � The key challenges we faced were around securing new partners and receiving lower numbers of referrals from
- challenged some existing partners.
- us?
- Two partners did not renew this year – Hyde Housing and Catalyst. This was due to a changing landscape for Housing Associations, which included one partner merging with another Housing Association, and another who brought early intervention work in-house to offer support to all tenants, rather than just those aged between 18-25. For our existing partners, our work sits in the context of the housing crisis where the transition to social housing might be slower for young people, due to the quality and suitability of housing stock available.
- While Local Authorities and Housing Associations will continue to face financial strain, we have taken concrete steps to address this challenge. We created a new Senior Partnerships role to add capacity to this area and we are diversifying our referral channels by building charity referral partners and scoping a new pathway for young people to self-refer to the Settle Programme.
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Deepen our impact through Programme 2 development, safeguarding and evaluation
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EET WORKSHOP
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What we said we’d do
- Increase the amount of financial and mental health support services to mitigate the impact of the cost-of living crisis.
- Externally review our safeguarding policy and expanding reflection practice for frontline staff.
- Develop our first external evaluation with Rocket Science and implement learnings.
- Develop advocacy and influencing strategy and share evaluation best practice.
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## What we did
- For our enhanced support offer, we delivered £21,586 of mental health and financial hardship grants to young people in need.
- In response to the cost-of-living crisis, we launched drop-ins for graduates from the Settle Programme. This year, we’ve moved these into a permanent feature of our community offer, where they’re referred to as graduate drop-ins as they can cover a wider area of need. We provided 32 drop-ins for graduates.
- Our safeguarding policy was externally reviewed, and we received feedback from a number of funders about the high-quality policy and procedure. The external reviewer, commented on the use of transitional safeguarding within the policy and the importance of this for the age range we work with.
- We delivered our annual safeguarding training. This is something we have committed to do each year in addition to external training to ensure we are building a robust safeguarding culture as well as learning about safeguarding in Settle’s context.
- We delivered the Settle Community project: 3 Education, Employment and Training (EET) workshops, 2 socials and 1 graduation event.
- We developed our advocacy and influencing plans in partnership with our graduates and consultancy support from the former Director of Influencing at youth justice charity Switchback. We also joined the Plan for the 136k Campaign calling for a strategy to end youth homelessness alongside New Horizon Youth Centre and over 100 other charities.
- We maintained high quality outcomes and strengthened our evaluation through working with our external evaluator Rocket Science. We completed beneficiary interviews to develop cost-benefit analysis case studies to evidence the financial impact of our work.
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- We started formally monitoring and tracking how many of our young people experienced negative budgets. This year, 90% of our young people ended the Programme in positive budgets, and we’re making changes to our internal data systems to monitor this in more detail next year.
“ I want to start by saying a massive thank you to Nick for his help and support. Over the past couple of months, I’ve found that my sessions with Nick helped me to slowly put my life in order.
From things as little as discussions around boundaries and how to say no, to more serious issues such as council tax – which I absolutely hated! Nick supported me and helped me in the areas that I needed. He advocated for me during the annoying calls about council tax as well as also listening to my needs.
Thanks to Settle, I was able to have access to therapy. This meant a lot for me because not only was I able to access therapy, but I was able to have my old therapist. This was a major highlight for me; as someone who is a care leaver, this meant I had someone who knew my story already. This further highlights the fact that Settle cares and they are truly dedicated to offering support and making change.
– SPEECH BY ISATU, A GRADUATE AT GRADUATION 2023
- What � Developing our advocacy work took longer than expected in 2023/24, due to capacity in the team as well as being a
- challenged new area of work for us as an organisation. Towards the
- us? end of the year, we invested in capacity and expertise to accelerate this work in 2024/25.
- Increasing our work with young people with experience of care has meant we’ve seen an increase in the complexity of safeguarding concerns which is why we are expanding clinical supervision to the frontline team in April 2024, ready for the final year of our strategy.
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“
I’ve been able to deal with a lot of stuff in my life, including how to manage my home and the important things I have to do. I really needed help with that.
– SETTLE GRADUATE, 2023
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3
Build a progressive and diverse organisation that values lived experience
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GRADUATION 2023
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What we said we’d do
- Develop our participation strategy and how we involve young people at Settle.
- Improve ethnic minority representation and maintain good levels of diversity across other key protected characteristics.
- Maintain a healthy culture and high staff retention by maintaining positive staff satisfaction, wellbeing and development.
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## What we did
- We successfully appointed a new Head of Fundraising which has added invaluable capacity and leadership of our fundraising function.
- We surpassed our organisational targets for LGBTQ+, female and disabled representation across the team this year.
- We increased participation and involvement opportunities for those with lived experience to contribute to our organisational development. Young people contributed to our strategy planning day, fundraising campaigns, board meetings, and shaping our advocacy and influencing strand of work.
- We conducted our latest staff survey, where 93% of staff agree or strongly agree that Settle is invested in their wellbeing. In addition, 93% of staff agreed or strongly agreed that they would recommend Settle as a good place to work to others.
- In October 2023, we ran a workshop about belonging with New Ways to help us create some shared language around belonging for the team and to explore how we can develop our approach at Settle.
- What � We are still below our target for ethnic minority representation and this remains an organisational
- challenged priority. We are improving our recruitment processes
- us? based on inclusive recruitment best practice and exploring how to create employment opportunities for Settle graduates within the organisation.
- At points recruitment was a challenge for us this year, in line with charity recruitment trends. We have invested in upgrading our benefits package and developing our recruitment process to help with this.
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## 4 Develop our governance, and our financial and operational sustainability
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STAFF AWAY DAY
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## What we said we’d do
- Increase and diversify our income to support our growth in reach and impact.
- Invest in IT system to improve navigation, data protection and efficiency.
- Complete external governance review and implement recommendations.
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## What we did
## ~~FINANCE~~
- We increased our income by 16% from £759,600 in 2022/23 to £884,890 in 2023/24 by diversifying our funder base, securing several large multi-year grants and increasing contract pricing with delivery partners.
- We delivered our annual winter fundraising campaign, exceeding our £15,000 target to raise over £20,000 in total. This represents our highest fundraising total raised through the winter fundraising campaign to date.
## ~~GOVERNANCE~~
- After completing our first external governance review and scoring 5.9 out of 7 across Digiboard’s four focus areas: Purpose, Governance, Reputation and Income Generation - we have been implementing their recommendations to further strengthen our governance.
- Appointed our new Chair, Sarah Byrt, with Rob Trimble, our Founding Chair, stepping down after 9 years (effective July 2024).
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TRUSTEES & SLT
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## ~~OPERATIONS~~
- We’ve embedded our strategy across all levels of the organisation – including quarterly updates at team meetings and board papers structured around our strategy. In our latest staff survey, 100% of the team said they strongly agree or agree that they have a clear understanding of Settle’s strategic goals.
- We migrated from Google Drive to Microsoft Sharepoint which is more fit for purpose for a growing organisation. We also started working with QLIC IT on a monthly basis to strengthen our IT support, data protection and software.
- We expanded the use of our e-learning platform across the organisation to provide ongoing support and training to the wider team. We were shortlisted for the Eloominate awards on Best Pre and Onboarding Experience.
- We developed a new website structure and developed new organisational copy to better talk about our partnerships and fundraising work, as well as creating new signposting content for young people on our website.
What challenged us?
- Like many other charities, we are scoping the opportunities and risks of AI as it emerges in different areas of our work and delivery. For 2024/2025, we are exploring the impact of this on us as a charity and developing a procedure for staff to follow.
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“ Settle made me more confident in living independently and made me feel less alone.”
– SETTLE GRADUATE, 2023
33
Future
plans
El
Credit.. Benoit Grogan-Avignon
Settle Annual Report
## Our goals
## OUR OBJECTIVES FOR 2024/25:
## Preventing more young people from 1 becoming homeless
- Increase our reach to prevent more young people at risk of homelessness.
- Increase and diversify our referral channels by securing new local authority and charity referral partners.
- Explore pathways for young people to self-refer.
2
## Deepen our impact through programme development, evaluation and sharing best practice
- Maintain the high impact and quality outcomes measured through the second year of our evaluation report.
- Co-create advocacy and influencing strategy with graduates for wider systemic impact.
- Deliver our support services and community work.
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3
## Build a progressive and diverse organisation that values lived experience
- Grow the team by increasing delivery and partnerships capacity.
- Increase Black, Asian and Minority Ethnic staff representation and maintain above target levels for other characteristics to meet 3-year diversity targets.
- Ensure lived experience is at the heart of organisation by paid involvement in the following areas: new strategy development, staff and board representation, advocacy and influencing, evaluation and recruitment.
4
## Improve our financial, operational and strategic sustainability
- Develop the next strategic plan in consultation with key stakeholders.
- Increase our income sustainably to support our increased programme delivery, support services, community support and advocacy.
- Develop our governance through appointing a new chair, trustee recruitment and holding our board away day.
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## Financial Review
Settle continued to perform consistently and grow steadily. Income increased by 16%, with increases in grants and donations, together with interest income, offsetting a small decrease in contract income.
Costs also increased by 16%, with staff costs increasing by 19%, partially offset by a modest decline in Young Person Support Service and Alumni costs.
A summary of Settle’s financial performance over the last five years is as follows:
|y/e 31 March
Income
Grants
Delivery contracts
Donations
Bank interest
**Total**
Expenditure
Staff costs
Delivery costs
YP Support Services
Alumni &
Community costs
Other costs
**Total**
Surplus
Unrestricted
Restricted
**Total**
Reserves
Unrestricted
Restricted
**Total**|2019/20
2020/21
2021/22
2022/23
2023/24
**£**
**£**
**£**
**£**
**£**
325,256
511,239
390,829
622,071
732,074
24,728
45,732
118,176
112,326
93,673
4,666
18,034
68,899
24,828
29,313
-
-
-
375
29,830|
|---|---|
||**354,650**
**575,005**
**577,904**
**759,600**
**884,890**
165,257
301,598
415,837
524,114
623,900
5,069
2,751
5,306
8,669
12,085
1,184
15,799
12,219
25,949
21,586
-
-
-
7,720
2,075
38,365
66,449
82,877
111.338
127,724|
||**209,875**
**386,597**
**516,239**
**677,790**
**787,370**
23,260
70,240
113,565
108,848
80,326
121,515
118,167
(51,900)
(27,038)
17194|
||**144,775**
**188,407**
**61,665**
**81,810**
**97,520**|
||69,267
139,507
253,071
361,919
442,245
225,011
343,178
291,279
264,241
281,435|
||**294,278**
**482,685**
**544,350**
**626,160**
**723,680**|
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## Income & expenditure
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Income Unrestricted reserves months
6
£800,000
5
£600,000 4
3
£400,000
2
£200,000
1
0
2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Years
Targeted free reserves range: 4 – 6 months
Income Months of reserves
**----- End of picture text -----**
**----- Start of picture text -----**
Grants Delivery Staff costs Delivery costs YP Support
contracts Services
Alumni &
Donations Bank interest Other costs
Community
**----- End of picture text -----**
**----- Start of picture text -----**
Income Expenditure
£12,085
£21,586
£2,075
£93,673
£732,074 £623,900
£127,724
£29,313 £28,830
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Settle Annual Report
## INCOME
In 2023/24 total income increased by £125,290 to £884,890 (2022/23: £759,600).
## Grants
Total grant income increased by £110,003 to £732,074 (2022/23: £622,071) with increases in both restricted and unrestricted grant income.
Restricted grant income increased by £12,853 to £579,574 (2022/23: £566,721), with grants from 14 funders (2022/23: 14 funders). This comprised £400,868 of multi-year grants from 4 funders, £130,706 from 7 funders which had previously supported Settle and £48,000 from 3 new funders.
Unrestricted grant income increased markedly, increasing by £97,150 to £152,500 (2022/23: £55,350), which included two grants of £75,000 each.
## Contracts
Settle continued to work with 8 partners during the year (2022/23: 8). Whilst total contract income fell by £18,653 to £93,673 (2022/23: £112,326), this was due to the ending of the Settle+ pilot project with one partner in autumn 2022, which contributed £46,667 of income in 2022/23. Contract income relating to The Settle Programme increased from £65,659 to £93,673 as a result of the full year impact of new partnerships, additional work and price increases.
## Donations
Settle consolidated its donation income during the year, which increased by £4,485 to £29,313 (2022/23: £24,828) Settle participated in the annual Big Give campaign, which raised £20,966 from individual supporters, trusts and companies (2022/23: £16,785).
## Bank interest
With the marked increase in the base rate, Settle secured interest income of £29,830 (2022/23: £375) from cash deposits in high interest bank accounts.
40
2023-24
## EXPENDITURE
Staff costs increased by £99,786 (19%) to £623,900 (2022/23: £524,114), reflecting growth in the size of the team, from 12.9 to 15.1 FTE and salary-related increases. In Q2, a new Head of Fundraising role was established, with the balance of additional capacity expanding the delivery team.
Delivery-related costs (including YP Support Services and Alumni & Community) reduced by £10,008 to £23,661 (2022/23: £33,669) during the year. The reduction primarily relates to two key areas: i) alumni development - the prior year (2022/23) included one-off investment in research to establish Settle’s approach to working with its alumni community and ii) £3,470 reduction in emergency grants for young people as cost of living pressures eased.
Other costs increased by £16,386 (15%) to £127,724 (2022/23: £111,338), further detail on other costs is provided in Note 2 on page 52. The increase in other costs reflects the increased size of the organisation, with no specific exceptional expenditure during the year.
## RESERVES
Restricted reserves increased by £17,194 (6.5%) to £281,435 (2022/23: £264,241). Unrestricted reserves increased by £80,326 (22%) to £442,245 (2022/23: £361,919) and were the equivalent to approximately 4.9 months of ongoing expenditure at the end of the year (2022/3: 4.8 months).
## RESERVES POLICY
In 2022/23 the trustees completed a thorough exercise to review the reserves policy and set an approach for reviewing the policy in future years, which remains unchanged for 2023/24.
The trustees have set a reserves policy whereby the free reserves (unrestricted funds) held by Settle should be within a range of 4 to 6 months of regular expenditure, and that each year the trustees refine the broader range to a more specific reserves target depending on key risk factors including the annual budget and levels of confirmed income, restricted reserves, profile of income from multi-year grants and potential opportunities.
For the year ending 31 March 2024, the range of 4 to 6 months of expenditure was the equivalent to £360,000 – £540,000, with a reserves target of 5 months of expenditure, equivalent to £450,000. At 31 March 2024 free reserves were £442,000 (2022/23: £362,000), equivalent to 4.9 months of expenditure (2022/23: 4.8 months). Whilst this is slightly below the reserves target of 5 months, the trustees consider this reasonable as it is it is well within the range of 4 to 6 months.
41
Settle Annual Report
## FUNDRAISING
A significant majority (86%) of Settle’s income is derived from grants (83%) and donations (3%). Of Settle’s grant income, £400,868 was in the form of multi-year grants, £194,456 was from existing or previous funders (typically 1 year grant) and £126,750 from new funders. During the year Settle increased its fundraising expertise and capacity with the appointment of an experienced fundraiser to a new Head of Fundraising role.
## GOING CONCERN
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## RISK MANAGEMENT AND UNCERTAINTIES
Effective risk management is critical in working towards the achievement of our mission. The trustees maintain overall accountability for ensuring that effective risk management practices are in place and review the risk register, prepared by the senior leadership team, every quarter. The Finance Sub-committee provides additional scrutiny for finance-related risks.
The principal risks and uncertainties identified by the trustees are as follows:
- Fundraising: Settle is largely dependent on grant income to fund its operations and, with factors such as the cost-of- living crisis, the fundraising environment has become tougher. Settle closely monitors its funding needs and potential sources and has developed a robust fundraising pipeline identifying a wide range of trusts and foundations to which Settle can apply. In 2023/24 we increased our staff fundraising capacity with the appointment of a Head of Fundraising to support our income growth plans.
- Young people referrals: Settle is reliant on partners, such as local authorities and housing associations, who refer young people for us to work with and working with more partners is critical to expanding our reach. Referral partners, who contribute toward the cost of our support, are under financial and operational pressures which can impact our ability to secure referrals. To maintain and grow referrals we are diversifying our referral channels, increasing our partnership development capacity and improving the way we communicate the value of our services.
- Safeguarding: Settle works with a group of young people who live in challenging circumstances and can have support needs around their financial and mental wellbeing. These can present safeguarding concerns and issues which need to be addressed. Settle’s frontline staff and managers receive extensive safeguarding training and external clinical safeguarding supervision to ensure safeguarding concerns are managed effectively and in line with best practice. We have a designated safeguarding lead in the senior leadership team and on the board of trustees who meet monthly to discuss safeguarding issues and we externally review safeguarding policies and procedures in place that are reviewed annually.
42
2023-24
## Acknowledgements
CRISEREN FOUNDATION
RL GLASSPOOL CHARITY TRUST
THE ENTERPRISE DEVELOPMENT FUND, SUPPORTED BY ACCESS – THE FOUNDATION FOR SOCIAL INVESTMENT
SOCIETY OF THE HOLY CHILD JESUS THE ALBERT HUNT TRUST
THE CHERRY FAMILY FOUNDATION
HACKNEY COUNCIL
THE HENRY SMITH CHARITY
GARFIELD WESTON FOUNDATION
THE HYDE FOUNDATION
JOHN LYON’S CHARITY
THE JONGEN TRUST
JPMORGAN CHASE FOUNDATION LANDAID CHARITABLE TRUST
THE LONDON COMMUNITY FOUNDATION, DAVID BIRD & JOANNA LAWTHER
LLOYDS BANK FOUNDATION
MAUREEN & DEREK MORTON TRUST
THE NATIONAL LOTTERY COMMUNITY FUND
THE TOLKIEN TRUST
MAZARS CHARITABLE TRUST
AN ANONYMOUS FAMILY TRUST
NATIONWIDE BUILDING SOCIETY
PURPOSEFUL VENTURES
Thank you to all our amazing supporters from the last year. We couldn’t do our work without your assistance.
43
Settle Annual Report
## Reference & Administrative Details
Registered name
Settle Support
Charity registered number 1162399
Trustees Sarah Byrt Steve Chaplin (resigned 22 September 2023) Mary-anne Hodd Jermaine King-Kabali Kathleen Mohan Rachel Smith Robert John Trimble (resigned 13 July 2024) Marion Wadibia Elizabeth Winder
Senior Leadership Team Richard Grahame - Chief Executive Aimee Hardaker - Chief Operating Officer Lisa Braden - Head of Business Development Penelope Day - Head of Fundraising
Principal office address and The Dock, Tobacco Dock, Wapping Lane, registered address London, E1W 1SF Independent Examiner Olayinka Tomori Longmeade Consult Ltd The Old Rectory, Springhead Road Northfleet, DA11 8HN
Bank Triodos Bank UK, Deanery Road, Bristol, BS1 5AS
44
2023-24
## Structure, Objects and Public benefit
Settle Support (Settle) is a Charitable Incorporated Organisation registered with the Charity Commission (registered number 1162399).
The governing document is a Constitution dated 5 May 2015. Settle registered with the Charity Commission on 24 June 2015.
The objects of Settle, as stated in the Constitution, are, for the public benefit:
1. To relieve those in need by reason of homelessness or adverse housing conditions; and
2. To prevent and relieve poverty amongst homeless and formerly homeless people.
In setting objectives and planning activities, the trustees confirm that they have complied with their duty under Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## Governance and Management
The governing body of the charity is the board of trustees, which, as of 31 March 2024, comprised of eight members (2022/23: nine).
Trustees as of the date of this report or who served during the year were:
Sarah Byrt Steve Chaplin (resigned 22 September 2023) Mary-anne Hodd Jermaine King-Kabali Kathleen Mohan Rachel Smith Robert John Trimble (resigned 13 July 2024) Marion Wadibia Elizabeth Winder
Trustees are appointed by a resolution passed at a meeting of the charity trustees. In selecting new trustees, the trustees consider the skills, knowledge and experience needed for the effective running of the charity. Prior to appointment new trustees will be provided with a copy of the Constitution, a copy of the Trustees’ annual report and financial statements, together with other relevant information.
The board of trustees is responsible for overseeing all aspects of governance and risk. Strategy is led by the board of trustees, working closely with the staff team. The staff team, led by Rich Grahame, is responsible for the implementation and delivery of strategy and day-to-day operations of the charity.
45
Settle Annual Report
## **Independent Examiner’s report to the trustees of Settle Support**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
- y examine the accounts under section 145 of the Charities Act,
- y to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- y to state whether particular matters have come to my attention
## **BASIS OF INDEPENDENT EXAMINER’S STATEMENT**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **INDEPENDENT EXAMINER’S STATEMENT**
In connection with my examination, no material matters have come to my attention which give me cause to believe that in, any material respect:
- y the accounting records were not kept in accordance with section 130 of the Charities Act; or
- y the accounts did not accord with the accounting records; or
- y the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**Olayinka Tomori ACA DChA**
**Longmeade Consult Ltd The Old Rectory, Springhead Road Northfleet, DA11 8HN**
**13 November 2024**
46
2023-24
## **Statement of Financial Activities**
|_Year ending 31 March 2024_
_Notes_
**Income from:**
Grants
Contract income (charitable activity)
Donations
Interest income
**Total Income**
_11_
**Expenditure on:**
_2-6_
Charitable activity
Raising funds:
**_Total Expenditure_**
**Net Income**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds**
_11,12_
Total funds brought forward
**Total funds carried forward**|**2023/24**
**Unrestricted**
**Funds**
**2023/24**
**Restricted**
**Funds**
**2023/24**
**Total**
**2022/23**
**Total**
£
£
£
£
152,500
579,574
732,074
622,071
93,673
-
93,673
112,326
8,347
20,966
29,313
24,828
29,830
-
29,830
375|
|---|---|
||**284,350**
**600,540**
**884,890**
**759,600**
132,649
548,656
681,305
622,916
71,375
34,690
106,065
54,874|
||**204,024**
**583,346**
**787,370**
**677,790**|
||**80,326**
**17,194**
**97,520**
**81,810**
**-**
**-**
**-**
**-**|
||**80,326**
**17,194**
**97,520**
**81,810**|
||361,919
264,241
626,160
544,350|
||**442,245**
**281,435**
**723,680**
**626,160**|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
See Note 13 for the comparative Statement of Financial Activities.
The accompanying notes form part of these financial statements.
47
Settle Annual Report
## **Balance Sheet as at 31 March 2024**
|**Balance Sheet as at 31 March 2024**||
|---|---|
|_Notes_
**Fixed assets:**
Tangible fxed assets
_7_
**_Total fxed assets_**
**Current assets:**
Debtors
_8_
Current asset investments
_9_
Cash
**_Total current assets_**
**Liabilities:**
Creditors: amounts falling due within 1 year
_10_
**_Net current assets_**
**Total net assets**
**The funds of the charity:**
Restricted income funds
_11,12_
Unrestricted income funds
**Total charity funds**|
**2023/24**
**Total**
**Funds**
**£**
**2022/23**
**Total**
**Funds**
**£**
-
200|
||-
200
30,345
11,787
356,806
-
366,254
659,752|
||**753,405**
**671,539**
(29,725)
(45,579)|
||**723,680**
**625,960**|
||**723,680**
**626,160**|
||281,435
264,241
442,245
361,919|
||**723,680**
**626,160**|
The accounts were approved by the board of trustees and approved for issue on 29 October 2024.
## **Sarah Byrt**
## **Chair of Trustees on behalf of the board of trustees**
The accompanying notes form part of these financial statements.
48
2023-24
## **Statement of Cash Flows at 31 March 2024**
|**Statement of Cash Flows at 31 March 2024**||||
|---|---|---|---|
||_Note_|**2023/24**|**2022/23**|
|||**£**|**£**|
|**_Cash fows from operating activities:_**||||
|Net cash provided by (used in) operating activities|_A_|63,308|134,917|
|**_Cash fows from investing activities:_**||||
|Purchase of fxed assets||-|-|
|Net cash provided by/(used in) investing activities||-|-|
|**Change in cash & cash equivalents in the reporting period**||**63,308**|**134,917**|
|Cash & equivalents at the beginning of the reporting period||659,752|524,835|
|**Cash & equivalents at the end of the reporting period**|_B_|**723,060**|**659,752**|
|**A.Reconciliation of Net Income to Net Cash Flow from Operating**|**Activities**|||
|||**2023/24**|**2022/23**|
|||**£**|**£**|
|**Net income for the reporting period**||**97,520**|**81,810**|
|Add back: Depreciation charges||200|383|
|Decrease/(increase) in debtors||(18,558)|54,080|
|(Decrease)/increase in creditors||(15,854)|(1,356)|
|**Net cash provided by (used in) operating activities**||**63,308**|**134,917**|
|**B.Analysis of Cash and Cash Equivalents**||||
|||**2023/24**|**2022/23**|
|||**£**|**£**|
|Cash in hand and in bank||723,060|659,752|
|Other cash equivalents||-|-|
|**Total cash and cash equivalents**||**723,060**|**659,752**|
49
Settle Annual Report
## **Notes to the fnancial statements**
## **1. Basis of preparation and accounting policies**
## **Basis of preparation**
- a. These accounts (financial statements) have been prepared under the historic cost convention, on a going concern basis, with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with:
- (i) The Charities Act 2011
(ii) The Financial Reporting Standard applicable in the UK and the Republic of Ireland, published on 16 July 2014
(iii) Accounting & Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS102) (second edition effective January 2019)
to comply with the revised layout of the financial statements required by the Charities SORP (FRS102).
- b. The charity meets the definition of a public benefit entity as defined by FRS 102.
- c. The trustees do not consider that there are any sources of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
- d. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## **Accounting policies**
- e. Fund accounting
Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity.
Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes.
The purposes of the funds are shown in Note 11.
- f. Income
Income is recognised and included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income, receipt is probable and the monetary value can be measured with sufficient reliability. Income that Settle has received, but is not entitled to recognise, is treated as deferred income.
## g. Expenditure and liabilities
Expenditure is recognised on the accruals basis. The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
50
2023-24
Liabilities are recognised as soon as there is a legal or constructive obligation to pay.
Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
- h. Tangible fixed assets
Tangible assets are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at their estimated value on receipt.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Computer equipment 3 years Office equipment 5 years Fixtures and fittings 5 years
Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
- i. Current assets and liabilities
- (i) Debtors are recognised at the settlement amount due.
- (ii) Prepayments are valued at the amount prepaid.
- (iii) Cash comprises bank balances and any short-term highly liquid deposits (available within 3 months).
(iv) Current asset investments comprise short-term bank deposits (available between 3 and 12 months).
(v) Creditors 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 are normally recognised at their settlement amount, usually the invoice amount.
(v) Accrued charges are normally valued at their settlement amount.
## j. Taxation
The charity is not liable to income tax or capital gains tax on its charitable activities.
## k. Pensions
Settled enrolled in the Defined Contribution NEST Pension scheme with effect from 1 November 2017. All employees of the charity are eligible to join the Scheme. Contributions to the scheme are shown in the Statement of Financial Activities when they become payable.
51
Settle Annual Report
## **2. Analysis of expenditure**
|**Analysis of expenditure**||
|---|---|
|**_Charitable activity_**
Staff costs
Young Person grants
Mental Health support
Other delivery costs
Alumni support & development
Offce costs
Staff recruitment, training & expenses
CRM, IT & telecoms
HR, accounting & legal
Evaluation
Development projects
Advocacy development
Communications
Insurance
Governance
Total charitable activity
**_Costs of raising funds_**
Staff costs
Offce costs
CRM, IT & telecoms
Staff recruitment, training & expenses
HR, accounting & legal
Direct Fundraising costs
**Total cost of raising funds**
**Total Expenditure**|**2023/24**
**Unrestricted**
**Funds**
**2023/24**
**Restricted**
**Funds**
**2023/24**
**Total**
**2022/23**
**Total**
£
£
**£**
£
85,694
454,092
**539,786**
471,796
1,467
10,016
**11,483**
13,578
335
9,768
**10,103**
12,371
5,395
6,690
**12,085**
8,669
-
2,075
**2,075**
7,720
7,350
22,225
**29,575**
23,141
6,729
12,105
**18,835**
17,863
5,482
10,237
**15,719**
14,198
2,432
10,889
**13,321**
11,167
-
7,164
**7,164**
7,247
3,958
3,005
**6,963**
11,085
5,949
-
**5,949**
-
5,336
81
**5,417**
14,396
2,522
-
**2,522**
2,438
-
309
**309**
7,247|
||132,649
548,656
**681,305**
622,916|
||56,161
27,953
**84,114**
52,318
1,008
3,061
**4,069**
-
608
920
**1,528**
-
11,586
1,263
**12,849**
-
334
1,493
**1,827**
-
1,678
-
**1,678**
2,556|
||**71,375**
**34,690**
**106,065**
**54,874**|
||**204,024**
**583,346**
**787,370**
**677,790**|
52
2023-24
## Cost shared between different activities have been allocated as follows:
|Staff costs|Cost of individual staff members’ time allocated
to each activity|
|---|---|
|Offce costs
HR, accounting & legal|Based on FTE staff time allocated to each
activity|
|CRM, IT & telecoms
Staff recruitment, training & expenses|Specifc expenditure on each activity, with
balance based on FTE staff time allocated to
each activity|
## _**Expenditure - 2022/23 Comparative**_
|**_Expenditure - 2022/23 Comparative_**||||
|---|---|---|---|
||**2022/23**|**2022/23**|**2022/23**|
||**Unrestricted**|**Restricted**|**Total**|
||**Funds**|**Funds**||
||£|£|£|
|**_Charitable activity_**||||
|Staff costs|27,517|444,279|471,796|
|Young Person grants|5,433|8,145|13,578|
|Mental Health support|530|11,841|12,371|
|Other delivery costs|3,132|5,537|8,669|
|Alumni support & development|218|7,502|7,720|
|Staff recruitment, training & expenses|788|17,075|17,863|
|Offce costs|783|22,358|23,141|
|CRM, IT & telecoms|380|13,818|14,198|
|Communications|760|13,636|14,396|
|Development projects|7,500|3,585|11,085|
|HR, accounting & legal|3,936|7,231|11,167|
|Evaluation|-|7,247|7,247|
|Governance|2,822|4,425|7,247|
|Insurance|210|2,228|2,438|
|**Total charitable activity**|**54,009**|**568,907**|**622,916**|
|**_Costs of raising funds:_**||||
|Staff costs|11,573|40,745|52,318|
|Other Fundraising costs|-|2,556|2,556|
|**Total cost of raising funds**|**11,573**|**43,301**|**54,874**|
|**Total Expenditure**|**65,582**|**612,208**|**677,790**|
53
Settle Annual Report
## **3. Employees & staff costs**
Total staff costs were £623,900 (2022/23: £524,114), comprising:
||2023/24
£
2022/23
£|
|---|---|
|Salaries|553,116
470,259|
|Pension costs|20,474
10,084|
|Social security costs|50,310
43,771|
|Employee costs|623,900
524,114|
Settle employed 15.1 full-time equivalent staff during the year (2022/23: 12.9). The average employee headcount during the year was 16.4 (2022/23: 14.4). No employees earned over £60,000 (2022/23: one employee earned between £60,000-70,000).
Key management personnel: Total employee benefits (including employers’ NI and pension contribution) of the CEO and COO was £116,938 (2022/23: £115,077).
## **4. Trustees’ remuneration, benefits and expenses**
During the year none of the trustees received any remuneration from the charity (2022/23: 0 trustees, £0).
During the year no trustees incurred any expenses (2022/23: one trustee, £114).
During the year one trustee, a Settle Programme graduate, received a £15 voucher for participation in an alumni event (2022/23: one trustee, a Settle Programme graduate, received a £30 voucher as part Settle’s Support Service grants programme).
## **5. Related party transactions**
There were no related party transactions (2022/23: none other than the payment outlined in 4. above).
## **6. Independent examination fees**
The fees payable to the independent examiner in relation to conducting the independent examination were £1,250 (excluding VAT) (2022/23: £1,250 excluding VAT).
54
2023-24
## **7. Tangible fixed assets**
|**Tangible fxed assets**||
|---|---|
|Cost|Computer
equipment
£
Total
£|
|Opening balance|2,150
2,150|
|Additions during the year|-
-|
|Closing balance|2,150
2,150|
|Accumulated depreciation||
|Opening balance|1,950
1,950|
|Charge for the year|200
200|
|Closing balance|2,150
2,150|
|||
|Net book value at 31 March 2024|0
0|
|Net book value at 31 March 2023|200
200|
## **8. Debtors**
|**Debtors**|||
|---|---|---|
||31 March|31 March|
||2024|2023|
||£|£|
|Debtors|9,000|3,775|
|Prepayments and accrued income|21,345|8,012|
|Total|30,345|11,787|
## **9. Current asset investments**
|**urrent asset investments**|||
|---|---|---|
||31 March|31 March|
||2024|2023|
||£|£|
|Cash equivalents on deposit (maturing between 3 and 12|356,806|-|
|months)|||
|Total|356,806|-|
## **10. Creditors: amounts falling due within one year**
||31 March|31 March|
|---|---|---|
||2024|2023|
||£|£|
|Accruals|8,960|15,473|
|Creditors|7,565|4,963|
|Deferred income|13,200|25,143|
|Total|29,725|45,579|
55
Settle Annual Report
## Movement in deferred income
|Movement in deferred income|Movement in deferred income|Movement in deferred income|
|---|---|---|
|31 March
2024
£
31 March
2023
£
Balance at the beginning of the year
25,143
34,604
Amount released in the year
(25,143)
(34,604)
Increase in provision in the year
13,200
25,143
Balance at the end of theyear
**13,200**
**25,143**|||
||Balance at the beginning of the year
Amount released in the year
Increase in provision in the year
Balance at the end of theyear|31 March
2024
£
31 March
2023
£
25,143
34,604
(25,143)
(34,604)
13,200
25,143|
|||**13,200**
**25,143**|
56
2023-24
## **11. Restricted funds**
During the year Settle received 16 restricted grants (including one specific fundraising campaign) from 15 funders (2022/23: 17 grants from 15 funders), amounting to £600,540 (2022/23: £585,170) for the following:
|Restricted Grant|Purpose|2023/24|2022/23|
|---|---|---|---|
|||£|£|
|JP Morgan Chase Foundation|Programme & support costs|190,000|140,000|
|The National Lottery Community|Staff and core costs|97,868|95,404|
|Fund||||
|The Henry Smith Charity|Programme Manager costs|39,000|19,000|
|The Henry Smith Charity|CEO costs|30,000|30,000|
|Garfeld Weston Foundation|Core costs|50,000|-|
|John Lyon’s Charity|Programme replication costs|44,000||
|John Lyon’s Charity|Programme costs||31,000|
|TheTolkienTrust|Core costs|40,000|40,000|
|Christmas Campaign 2023*|Coach costs|20,966|-|
|The Cherry Family Foundation|Mental Health Support costs|20,000|-|
|Hackney Council|Programme staff costs|18,000|-|
|The Enterprise Development|Partnership development costs|12,500|-|
|Fund, supported by Access – The||||
|Foundation for Social Investment||||
|The Hyde Foundation|Support for Hyde Housing ten-|10,000|10,000|
||ants|||
|Society of the Holy Child Jesus|Coach costs|10,000|-|
|The CriSeren Foundation|IT implementation costs|9,956|-|
|The Albert Hunt Trust|Core costs|7,000|7,000|
|RL Glasspool Charity Trust|Support for young people|1,250|1,210|
|Nationwide Building Society|Coach costs|-|50,000|
|Programme Manager grant|Programme Manager costs|-|38,000|
|Lloyds Bank Foundation|Core costs|-|33,333|
|LandAid Charitable Trust|Coach costs|-|30,564|
|Core costs grant|Core costs|-|24,500|
|Christmas Campaign 2022*|Support Services|-|16,785|
|The London Community|Support staff costs|-|10,000|
|Foundation, David Bird & Joanna||||
|Lawther||||
|Young Person grant fund|Grants for young people|-|6,710|
|Christmas Campaign 2021*|Programme delivery costs|-|1,664|
|**Total**||**600,540**|**585,170**|
_* Recorded in donations_
_** The Enterprise Development Fund, supported by Access – The Foundation for Social Investment_
57
Settle Annual Report
The open and closing restricted fund balances and movement in restricted funds during the year are outlined below:
|JP Morgan Chase Foundation
National Lottery Community Fund
The Henry Smith Charity
The Henry Smith Charity
Garfeld Weston Foundation
John Lyon’s Charity
John Lyon’s Charity
TheTolkienTrust
Christmas Campaign 2023
The Cherry Family Foundation
Hackney Council
The Enterprise Development
Fund , supported by Access – The
Foundation for Social Investment
The Hyde Foundation
Society of the Holy Child Jesus
TheAlbert Hunt Trust
The CriSeren Foundation
RL Glasspool Charity Trust|Balance at
1 April
2023
£
Income
£
Expenditure
£
Balance at
31 March
2024
£
31,372
190,000
(160,904)
60,468
2,744
97,868
(93,280)
7,332
-
39,000
(39,000)
-
30,000
30,000
(44,251)
15,749
-
50,000
(1,270)
48,730
26,153
-
(26,153)
-
-
44,000
(35,114)
8,886
11,534
40,000
(26,188)
25,346
-
20,966
-
20,966
-
20,000
(8,015)
11,985
-
18,000
-
18,000
-
12,500
(411)
12,089
790
10,000
(10,790)
-
-
10,000
-
10,000
-
7,000
-
7,000
-
9,956
(9,956)
-
-
1,250
(1,250)
-|
|---|---|
|Nationwide Building Society|50,000
-
(21,430)
28,570|
|LandAid Charitable Trust
Lloyds Bank Foundation
Christmas Campaign 2022
Maureen & Derek Morton Trust
Programme Manager grant
Core costs grant
The London Community
Foundation, David Bird & Joanna
Lawther
**Total restricted funds**|30,564
-
(30,564)
-
22,176
-
(22,176)
-
16,785
-
(10,471)
6,314
14,455
-
(14,455)
-
11,054
-
(11,054)
-
10,421
-
(10,421)
-
6,193
-
(6,193)
-|
||**264,241**
**600,540**
**(583,346)**
**281,435**|
.
58
2023-24
|Balance at
1 April
2022
£
Income
£
Expenditure
£
Balance at
31 March
2023
£
JP Morgan Chase Foundation
-
140,000
(108,628)
31,372
National Lottery Community Fund
-
95,404
(92,660)
2,744
The Henry Smith Charity
19,000
19,000
(38,000)
-
The Henry Smith Charity
17,504
30,000
(17,504)
30,000
TheTolkienTrust
13,819
40,000
(42,285)
11,534
Garfeld Weston Foundation
35,675
-
(35,675)
-
John Lyon’s Charity
24,783
31,000
(29,630)
26,153
The Hyde Foundation
20,000
10,000
(29,210)
790
Lloyds Bank Foundation
17,542
33,333
(28,699)
22,176
Programme Manager grant
-
38,000
(26,946)
11,054
Charles Hayward Foundation
24,949
-
(24,949)
-
Crisis
25,000
-
(25,000)
-
Christmas Campaign 2021
14,679
1,664
(16,343)
-
Christmas Campaign 2022
-
16,785
-
16,785
Maureen & Derek Morton Trust
30,000
-
(15,545)
14,455
TheLightbulb Trust
15,008
-
(15,008)
-
Core costs grant
-
24,500
(14,079)
10,421
The Berkeley Foundation
12,981
-
(12,981)
-
People’s Postcode TrustCharity
10,534
-
(10,534)
-
TheAlbert Hunt Trust
1,400
7,000
(8,400)
-
Young Person grant fund
-
6,710
(6,710)
-
The CriSeren Foundation
6,000
-
(6,000)
-
The London Community
Foundation, David Bird & Joanna
Lawther
-
10,000
(3,807)
6,193
Enterprise Development Fund
2,211
-
(2,211)
-
RL Glasspool Charity Trust
-
1,210
(1,210)
-
The Beacon Lodge Charitable Trust
194
-
(194)
-
LandAid Charitable Trust
-
30,564
-
30,564
Nationwide Building Society
-
50,000
-
50,000
**Total restricted funds**
**291,279**
**585,170**
**(612,208)**
**264,241**|Balance at
1 April
2022
£
Income
£
Expenditure
£
Balance at
31 March
2023
£
JP Morgan Chase Foundation
-
140,000
(108,628)
31,372
National Lottery Community Fund
-
95,404
(92,660)
2,744
The Henry Smith Charity
19,000
19,000
(38,000)
-
The Henry Smith Charity
17,504
30,000
(17,504)
30,000
TheTolkienTrust
13,819
40,000
(42,285)
11,534
Garfeld Weston Foundation
35,675
-
(35,675)
-
John Lyon’s Charity
24,783
31,000
(29,630)
26,153
The Hyde Foundation
20,000
10,000
(29,210)
790
Lloyds Bank Foundation
17,542
33,333
(28,699)
22,176
Programme Manager grant
-
38,000
(26,946)
11,054
Charles Hayward Foundation
24,949
-
(24,949)
-
Crisis
25,000
-
(25,000)
-
Christmas Campaign 2021
14,679
1,664
(16,343)
-
Christmas Campaign 2022
-
16,785
-
16,785
Maureen & Derek Morton Trust
30,000
-
(15,545)
14,455
TheLightbulb Trust
15,008
-
(15,008)
-
Core costs grant
-
24,500
(14,079)
10,421
The Berkeley Foundation
12,981
-
(12,981)
-
People’s Postcode TrustCharity
10,534
-
(10,534)
-
TheAlbert Hunt Trust
1,400
7,000
(8,400)
-
Young Person grant fund
-
6,710
(6,710)
-
The CriSeren Foundation
6,000
-
(6,000)
-
The London Community
Foundation, David Bird & Joanna
Lawther
-
10,000
(3,807)
6,193
Enterprise Development Fund
2,211
-
(2,211)
-
RL Glasspool Charity Trust
-
1,210
(1,210)
-
The Beacon Lodge Charitable Trust
194
-
(194)
-
LandAid Charitable Trust
-
30,564
-
30,564
Nationwide Building Society
-
50,000
-
50,000
**Total restricted funds**
**291,279**
**585,170**
**(612,208)**
**264,241**|Balance at
1 April
2022
£
Income
£
Expenditure
£
Balance at
31 March
2023
£
JP Morgan Chase Foundation
-
140,000
(108,628)
31,372
National Lottery Community Fund
-
95,404
(92,660)
2,744
The Henry Smith Charity
19,000
19,000
(38,000)
-
The Henry Smith Charity
17,504
30,000
(17,504)
30,000
TheTolkienTrust
13,819
40,000
(42,285)
11,534
Garfeld Weston Foundation
35,675
-
(35,675)
-
John Lyon’s Charity
24,783
31,000
(29,630)
26,153
The Hyde Foundation
20,000
10,000
(29,210)
790
Lloyds Bank Foundation
17,542
33,333
(28,699)
22,176
Programme Manager grant
-
38,000
(26,946)
11,054
Charles Hayward Foundation
24,949
-
(24,949)
-
Crisis
25,000
-
(25,000)
-
Christmas Campaign 2021
14,679
1,664
(16,343)
-
Christmas Campaign 2022
-
16,785
-
16,785
Maureen & Derek Morton Trust
30,000
-
(15,545)
14,455
TheLightbulb Trust
15,008
-
(15,008)
-
Core costs grant
-
24,500
(14,079)
10,421
The Berkeley Foundation
12,981
-
(12,981)
-
People’s Postcode TrustCharity
10,534
-
(10,534)
-
TheAlbert Hunt Trust
1,400
7,000
(8,400)
-
Young Person grant fund
-
6,710
(6,710)
-
The CriSeren Foundation
6,000
-
(6,000)
-
The London Community
Foundation, David Bird & Joanna
Lawther
-
10,000
(3,807)
6,193
Enterprise Development Fund
2,211
-
(2,211)
-
RL Glasspool Charity Trust
-
1,210
(1,210)
-
The Beacon Lodge Charitable Trust
194
-
(194)
-
LandAid Charitable Trust
-
30,564
-
30,564
Nationwide Building Society
-
50,000
-
50,000
**Total restricted funds**
**291,279**
**585,170**
**(612,208)**
**264,241**|
|---|---|---|
||JP Morgan Chase Foundation
National Lottery Community Fund
The Henry Smith Charity
The Henry Smith Charity
TheTolkienTrust
Garfeld Weston Foundation
John Lyon’s Charity
The Hyde Foundation
Lloyds Bank Foundation
Programme Manager grant
Charles Hayward Foundation
Crisis
Christmas Campaign 2021
Christmas Campaign 2022
Maureen & Derek Morton Trust
TheLightbulb Trust
Core costs grant
The Berkeley Foundation
People’s Postcode TrustCharity
TheAlbert Hunt Trust
Young Person grant fund
The CriSeren Foundation
The London Community
Foundation, David Bird & Joanna
Lawther
Enterprise Development Fund
RL Glasspool Charity Trust
The Beacon Lodge Charitable Trust
LandAid Charitable Trust
Nationwide Building Society
**Total restricted funds**|Balance at
1 April
2022
£
Income
£
Expenditure
£
Balance at
31 March
2023
£
-
140,000
(108,628)
31,372
-
95,404
(92,660)
2,744
19,000
19,000
(38,000)
-
17,504
30,000
(17,504)
30,000
13,819
40,000
(42,285)
11,534
35,675
-
(35,675)
-
24,783
31,000
(29,630)
26,153
20,000
10,000
(29,210)
790
17,542
33,333
(28,699)
22,176
-
38,000
(26,946)
11,054
24,949
-
(24,949)
-
25,000
-
(25,000)
-
14,679
1,664
(16,343)
-
-
16,785
-
16,785
30,000
-
(15,545)
14,455
15,008
-
(15,008)
-
-
24,500
(14,079)
10,421
12,981
-
(12,981)
-
10,534
-
(10,534)
-
1,400
7,000
(8,400)
-
-
6,710
(6,710)
-
6,000
-
(6,000)
-
-
10,000
(3,807)
6,193
2,211
-
(2,211)
-
-
1,210
(1,210)
-
194
-
(194)
-
-
30,564
-
30,564
-
50,000
-
50,000|
|||**291,279**
**585,170**
**(612,208)**
**264,241**|
59
Settle Annual Report
## **12. Analysis of net assets between funds**
||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|||
||31 March|31 March|31 March|31 March|
||2024|2024|2024|2023|
||£|£|£|£|
|Tangible fxed assets|-|-|-|200|
|Current assets|284,971|468,434|753,405|671,539|
|Creditors: amounts falling|(3,536)|(26,189)|(29,725)|(45,579)|
|due within 1 year|||||
|Total|281,435|442,245|723,680|626,160|
## _**Analysis of net assets between funds – 2022/23 Comparative**_
||Restricted|Unrestricted|Total|
|---|---|---|---|
||Funds|Funds||
||31 March|31 March|31 March|
||2023|2023|2023|
||£|£|£|
|Tangible fxed assets|200|-|200|
|Current assets|283,978|387,561|671,539|
|Creditors: amounts falling|(19,937)|(25,642)|(45,579)|
|due within 1 year||||
|Total|264,241|361,919|626,160|
60
2023-24
## **13. Comparative Financial Statements (2022/23)**
## **Statement of Financial Activities**
|_Year ending 31 March 2024_
_Notes_
Income from:
Grants
Contract income (charitable activities)
Donations
Bank interest
**Total Income**
**11**
Expenditure:
_2-6_
Charitable activity - preventing homelessness
Costs of raising funds:
Total Expenditure
Net Income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
_11,12_
Total funds brought forward
Total funds carried forward|**2022/23**
**Unrestricted**
**Funds**
**2022/23**
**Restricted**
**Funds**
**2022/23**
**Total**
£
£
£
55,350
566,721
622,071
112,326
-
112,326
6,379
18,449
24,828
375
-
375|
|---|---|
||**174,430**
**585,170**
**759,600**
54,009
568,907
622,916
11,573
43,301
54,874|
||65,582
612,208
677,790|
||108,848
(27,038)
81,810
-
-
-|
||108,848
(27,038)
81,810|
||253,071
291,279
544,350|
||361,919
264,241
626,160|
61