2024-25
2024-25 Annual Report Trustees’ annual report and financial statements for the year ending 31 March 2025
Settle Support, a Charitable Incorporated Organisation (registered number 1162399)
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Settle Annual Report
2024-25
Contents
| Chair and Chief Executive’s introductory statement | 4 |
|---|---|
| Who we are & what we do | 8 |
| Year at a glance | 10 |
| Our year: 2024-25 | 12 |
| Our impact | 14 |
| Our strategy: 2025-28 | 28 |
| Financial review | 30 |
| Financial statements | 39 |
Settle is a charity tackling a leading cause of homelessness by supporting care-experienced young people through the key transition of moving into their first home.
“ The thing about sessions with Settle is that I always leave feeling more confident and hopeful for the future.
– LUNA, ON THE SETTLE PROGRAMME
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Settle Annual Report
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Chair and Chief Executive’s introductory statement
Settle’s vision is that no young person leaving care experiences homelessness. In our first ten years, we’ve proved that with the right support, care-experienced young people can make a success of living independently and establish the foundations they need to thrive.
We’re proudest of all that when we followed up with young people 12 months after completing the programme, every single person we spoke to this year was still in their tenancy. This more than anything else demonstrates the lasting impact of our work.
The need for our work is growing all the time. Government figures published in October 2024 show that the number of care leavers facing homelessness increased by 54% over the last five years. Care-experienced young people are 9 times more likely to be made homeless than their peers.
“Settle helped change the trajectory of my life. I don’t think I would be as equipped as I am now if it wasn’t for Settle!
I will always fly the flag for Settle – I just think that what they do is so important.”
2024/25 was the final year of our 2022 to 2025 strategy, which focused on preventing more young people from becoming homeless. This year, we worked with 183 young people, the highest number ever, providing them with over 1,570 hours of personalised, 1:1 support.
Most young people Settle works with are referred to us by local authority Leaving Care teams, once they’ve been allocated housing. Ongoing resource pressures on local authorities, and the challenges they face in finding suitable accommodation for young people, especially in London, made it difficult for them to meet their referral targets to us this year. Our programme and partnerships teams worked hard to address this challenge, building stronger engagement with local
We continued to see outstanding results, with 96% of young people more confident in managing their tenancy after Settle’s support, and 86% reporting improved finances. 79% of young people who were in rent arrears when they started the Settle Programme reduced or cleared their arrears, with an average reduction of £645.
authorities and establishing new referral routes with other youth homelessness charities, to ensure that we still reached more young people than ever before.
The year saw plenty of other highlights. We increased our broader support to young people, including financial hardship grants and our mental health offer of fully funded therapy. With additional capacity from our new Community Intern, Settle’s first ringfenced role for candidates with care experience, we further developed our community offer for programme graduates. From social events and skills workshops to drop-in sessions, we want to make sure that our support to young people doesn’t end in yet another cliff edge.
“Settle’s mental health support helped me to get to the root problems, faster.
It helped me to figure out that some behaviours I have don’t come from nowhere ... I have an understanding of why I feel the way I feel and why I do the things I do.”
Settle’s Advocacy Forum, a passionate group of young people committed to changing the wider system, ran their first campaign during National Care Leavers Week in November. They also worked with the BBC and Comic Relief to produce a film for Red Nose Day.
We grew our income by more than £300,000, with increased income from referral partners as well as five new grant funders. We also achieved significant growth in multi-year funding, allowing us to plan for the future with more confidence.
We appointed our new Chair of Trustees, Sarah Byrt. We also welcomed three new Trustees to the Board, including a second graduate of the Settle Programme.
Finally, at the end of this year we said goodbye to Rich Grahame, Settle’s co-founder and first Chief Executive. Rich took Settle from a promising idea to a flourishing charity, supporting hundreds of care-experienced young people. On a personal level, as an incoming Chief Executive, I couldn’t have wished for a better or kinder welcome than Rich provided.
During our first ten years, Settle has prevented over 750 young people from becoming homeless. That amazing achievement is thanks to the vision, courage and persistence of Rich and his co-founder, Katie Slee. As an organisation and a community, we will always be grateful to them.
–
Dan Jones
CEO
Sarah Byrt Chair
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Settle Annual Report
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OUR VISION
No young person leaving care experiences homelessness
OUR MISSION
To prevent young people leaving care from becoming homeless by equipping them with the skills and confidence they need to thrive
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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Settle Annual Report
2024-25
Who we are & what we do
Settle is a charity tackling the lack of support for young people as they leave the care system.
Over the last decade, 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 moving out of the care system and into their first home. By focusing on this key transition, we prevent problems snowballing and enable young people to thrive.
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.
~~Supporting good transitions~~
For many years, young people have told us they face a “cliff edge” when leaving the care system. When they turn 18, their support structures drop away, and they can find themselves left to navigate their first steps into adulthood on their own.
The issues young people face in sustaining a tenancy can’t be separated from challenges around mental and physical health, relationships, employment, benefits, immigration status etc. We provide small grants to meet immediate financial needs, alongside funding for young people to receive therapy from a professional they choose. Settle Coaches also help young people access specialist support with more complex problems.
In the Settle Programme, an accredited coach works intensively with an individual young person during this critical transition. Coaches support young people to deal with day-to-day challenges and achieve their goals.
After they’ve completed the Settle Programme (6 months on average), young people can come back to us for drop-in support in an emergency. We run regular activities and social events for this wider Settle Community, providing young people with opportunities to meet peers and build their own networks.
With their Settle Coach, young people develop the practical skills and knowledge to avoid eviction and homelessness – and create a trusting relationship that gives young people the confidence and security to build the lives they want.
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Year at a glance
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CAMBRIDGESHIRE
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The Settle Community
Mental Health and Financial Support
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26 231
70
Community Graduate drop-ins activities hosted attended across across the year the year
Hardship grants Sessions of therapy and winter grants accessed by young provided by Settle people
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Where we worked
Number of Young People
1 35
ENFIELD
BARNET
HARINGEY
BRENT CAMDEN HACKNEY
EALING
KENSINGTON
& CHELSEA
HAMMERSMITH
HOUNSLOW &FULHAM
LAMBETH
WANDSWORTH
CROYDON
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CROYDON
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ESSEX
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EAST SUSSEX
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2024-25
Settle Annual Report
Our year: 2024-25
This report highlights our progress in the final year of our 2022-25 strategy and reviews our successes and challenges over the last financial year.
We hope it will inspire many more people to join us in our mission to end youth homelessness in the UK.
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Our impact
100% Of young people sustained their tenancies at 12 months
Minimising rent arrears, preventing homelessness
Rent arrears are a key driver of eviction and then homelessness.
The Settle Programme supports young people to reduce their arrears and manage their money.
Skills and self-confidence
We measure young people’s progress throughout the programme, using structured evaluation and self-assessment tools to help them reflect on their skills, knowledge and ability to handle challenges.
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96%
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38%
Of all graduates were in arrears at the start of the Programme
Improved money knowledge
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100
91% 80 86%
Improved coping Improved finances such as
mechanisms 60 dealing with debt and arrears
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20
95% 96%
Improved confidence Confidence managing
accessing support tenancy
96% 98%
More satisfied with how Better life skills
they handle things to avoid eviction
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21% 58% Cleared their arrears Reduced their arrears
£645 £12,254 Average reduction in arrears Total reduction of arrears
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Settle Annual Report
Sarah’s story
Growing up in care, Sarah moved between houses without ever feeling quite at home. She was excited to leave care when she passed her 18th birthday, and move into her own place, but she also felt completely alone and terrified that it would all go wrong.
“I wasn’t really given much information when leaving the care home. I did have a worry that I was just going to be left completely on my own to figure things out. And part of me was ready for that, but another part of me was also very scared.”
When Sarah was referred to us, she was moving into her first flat. Like many care leavers, she was excited but also overwhelmed. She lacked the support network many young people rely on and was unsure how to manage a household, budget, or even cook a meal.
“I had a huge fear of becoming homeless because I didn’t have the general set up of a family or friends or a support network, and I hadn’t been shown that it was safe to ask for help and support from other people. I’d seen a lot of people that I knew end up in really difficult situations and fall down a rabbit hole.”
Sarah began weekly 1-1 sessions with Alice, a Settle Coach, who created a safe space where she could share her feelings, and feel like she was really being listened to. In Alice’s words:
Every time I’ve met Settle, I’ve always left feeling a lot better and brighter and lighter and more supported as well. I feel like it really did change my life. 16
“It’s been an amazing journey to watch her become such a confident, purposeful young woman. Seeing the difference in having our sessions each week, just to sit with her and make sure she knew that somebody was there, and that we were going to make sure that things were going to be okay, and to also help her do that herself.”
Sarah has now graduated from the Settle Programme, and together with Alice and other young people in the Advocacy Forum, shared her ’ story with the nation for Comic Relief s Red Nose Day 2025.
“For the first time, I would actually say that I’m settled. I genuinely do feel like my house is my home. It feels like my safe place, and it feels like my happy place.”
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Settle Annual Report
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1 Prevent more young people from becoming homeless
What we said we’d do
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Increase our reach to support more young people at risk of homelessness.
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Increase and diversify our referral channels by securing new local authority and charity referral partners.
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Explore pathways for young people to self-refer to the Settle Programme.
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We supported 183 young people in total, including 133 new young people, delivering 1573 hours of 1:1 support. This is the largest number of young people we’ve ever supported in a single year.
What we did
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This compares to 170 young people, including 112 new young people, and 1483 hours in 2023/24.
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We worked with 9 referral partners: 1 Housing Association, 6 Local Authorities, including a new partnership with the London Borough of Brent, and 2 charities.
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During the year we secured 3 new partnerships: 1 new paid Local Authority partnership and 2 non-paying charity partnerships with Centrepoint and New Horizons Youth Centre. We have also established ad hoc referral pathways with other charities including Become and Coram. We renewed 100% of our live partnerships.
“
Settle is an amazing resource. Within the commissioning team we’re really pleased with them and the outcomes they deliver. Value for money, the cost is not high, and what they produce does save the council money in the long run, young people don’t need to access more services.
– JORDAN WINDETT, LONDON BOROUGH OF LAMBETH
- Developing new paid partnerships with Local Authorities has taken longer than we hoped – due to the ongoing financial pressures and capacity challenges they are facing.
What challenged us?
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Partners have sometimes struggled to make enough referrals to Settle (total referrals in 2024/25 were 82% of targets agreed with partners) - due to challenges they face in finding suitable local accommodation for young people to move into, and high staff turnover in some referral organisations.
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These challenges meant that we weren’t able to grow our reach as much as we had planned to for the year – we have identifed the need for ongoing marketing and engagement with referral partners, and invested in additional partnership development capacity.
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While we remain open to self referrals, we did not actively pursue this in 2024/25. Instead we focused on sustaining referrals from local authorities and developing new pathways through charity partnerships.
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Deepen our impact through programme 2 development, evaluation and sharing best practice
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A Home of Our Own advocacy
forum flmed by Comic Relief
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What we said we’d do
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Maintain the high impact and quality outcomes measured through the second year of our evaluation report.
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Co-create an advocacy and influencing strategy with graduates for wider systemic impact.
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Deliver our support services and community work.
What we did
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Our external evaluation partner, Rocket Science, developed detailed cost benefit analysis case studies to demonstrate the value of our work. They calculated that every £1 we spend generates ~£28 of benefits for young people, government and the wider economy. They also explored monitoring tools for our community and enhanced support offers, to help us better understand our wider impact, and developed a visual impact map.
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We brought together different systems and tools for managing programme and partnership data to create an organisational dashboard. This now allows us to track delivery, quality, progress against our strategic objectives and impact much more efficiently and accurately.
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We established an Advocacy Forum, open to Settle graduates and young people who are currently receiving support from the Settle Programme. The Forum developed and ran its first campaign, A Home of Our Own, during National Care Leavers Week in November. Forum members also worked with the BBC and Comic Relief to produce a short film about Settle’s work, which was broadcast on the main Friday night show on Red Nose Day.
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In 2024/25, we provided 95 young people in need with financial hardship grants, including supermarket vouchers and grants for essential items. This is an increase of 41% on the previous year (67 young people). We made 177 hardship grants and 54 winter grants, totalling £9,433.
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We supported 14 young people to access therapy through our mental health offer, which provides funding for up to 15 sessions with a therapist chosen by the young person.
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- “ [Before Settle] I was signed up to a mental health offer that was too far from my home and I couldn’t connect with the therapist. I ended up not going. Settle’s offer helped me to find a therapist that was local and worked better for me.
– FEEDBACK ABOUT THE MENTAL HEALTH PROJECT
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37 young people engaged in our Settle Community offer this year. We held 26 graduate drop-in sessions, allowing young people who had already completed the programme to get support from a coach with issues around their tenancy, finances or wellbeing.
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We also held 6 community events, including 2 socials - our annual graduation event and a festive feast. We ran employability events, focused on speed mentoring and CV writing, as well as practical gardening and DIY skills workshops. We’re grateful to the volunteers who shared their skills with young people, including the teams at Berkeley, Google, JP Morgan and Phoenix Community Gardens, and to Chance Projects for facilitating the DIY workshop.
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Rocket Science identified some gaps in our systems for monitoring
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What challenged and learning about our work – for example, diversity data about
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us? young people was held separately, not integrated with our main CRM system. We have worked hard over the year to address these gaps and develop a clearer picture of our data requirements and each young person’s “data journey”.
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Uptake of our mental health offer was significantly lower than we’d anticipated at the start of the year. It was challenging to identify one key reason for this. Instead it was a range of complex factors, including young people’s previous experiences of mental health interventions and their capacity to engage with something as intensive as therapy. We have taken steps to review the areas we do have control over, such as how we market the offer to young people.
“
Calling for change for other people, heals a part of yourself that didn’t get that change.
– SETTLE ADVOCATE
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Build a progressive and diverse organisation that values lived experience
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Graduation 2024
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What we said we’d do
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Grow the team by increasing our delivery and partnerships capacity.
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Increase Black, Asian and Minority Ethnic staff representation and maintain above target levels for other characteristics to meet our 3-year diversity targets.
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Ensure lived experience is at the heart of the organisation by paid involvement in the following areas: new strategy development, staff and board representation, advocacy and influencing, evaluation, and recruitment.
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The team culture is one that is welcoming to new members of the team. The onboarding process embodies the best parts about Settle’s team culture.
– FEEDBACK FROM STAFF SURVEY
- We added 2 new posts to our programme team, enabling us to grow our community work.
What we did
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We also created a new Senior Partnerships Manager role, increasing our capacity to manage existing referral partnerships and develop new ones.
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We have ensured lived experience is at the heart of Settle by offering paid involvement opportunities for young people in our strategy development, and in the recruitment of new frontline roles and the CEO role. We continued to provide paid opportunities for young people to shape and lead our advocacy and influencing strategy.
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We deepened and broadened the lived experience within our staff team and board of trustees. We finished the year with 14% of staff and trustees bringing lived experience to their roles, in comparison to 5% last year. To support this, we introduced guaranteed interviews for care-experienced candidates who meet the essential criteria for a role.
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We created a Community Intern role, ringfenced for care-experienced candidates, to ensure that lived experience shapes our community development work both from the young people involved and from the staff working with them.
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What challenged � Whilst we have seen a 15% increase in ethnic minority representation across the organisation this year, we have yet to achieve our target to
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us? reflect the communities we work in. This remains an organisational priority. This year we held recruitment training for managers and inclusion training for the whole team to continue our efforts to build a diverse and inclusive organisation.
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Improve our financial, operational and strategic sustainability
What we did
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Our Senior Leadership Team, wider team, board of Trustees and young people all contributed to the development of a new strategic plan, along with external stakeholders such as funders and delivery partners. Our new strategy for 2025-2028 can be found here.
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We increased our income by 36% from £884,890 in 2023/24 to £1,206,880 in 2024/25 by growing and diversifying our funder base, and increasing contract pricing with delivery partners.
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For our winter fundraising campaign, the Settle team climbed the combined height of the 3 peaks, highlighting that 1 in 3 young people leaving care face homelessness within 2 years. We exceeded our £15,000 target by nearly £2,500..
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We had a number of new trustees join us this year including Dan Comach as trustee safeguarding lead, Neel Parti and Aaliyah Fozol. Aaliyah brings lived experience of the care system, and is a Settle Programme graduate herself.
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We’ve continued to embed our strategy across all levels of the organisation. In our latest staff survey, 95% of the team agreed or strongly agreed that they have a clear understanding of Settle’s strategic goals.
Three Peaks climbing challenge for our 2024 winter fundraiser
What we said we’d do:
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Develop our next strategic plan in consultation with key stakeholders.
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Increase our income sustainably to support our increased programme delivery, support services, community support and advocacy.
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Develop our governance through onboarding our new chair, recruiting new trustees and holding our board away day.
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What challenged � To continue to grow our income, we sought to recruit a Trust and Foundation fundraiser this year. With fundraisers in low
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us? supply and high demand across the third sector, this proved challenging, leaving us with an unfilled vacancy for most of the year. We are delighted that we successfully appointed a candidate to this role just before the end of the financial year.
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Settle Annual Report
1. Grow our impact
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Double our annual reach, working with twice as many young people in 2027/28 (at least 360) as in 2024/25 (183)
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Continue to deliver and develop our Community and Support Services to deepen our impact
Our strategy: 2025-28
Our next chapter builds on our first ten years of impact, doubling the number of young people we support across London while amplifying the voices of young people to spark change in the wider system.
We have set three ambitious strategic goals for 2025-28:
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Maintain the high quality of our programme through effective quality controls and programme insight
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Strengthen our evidence base, building our approach to impact and evaluation
2. Develop our influence
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Develop and deliver Settle’s first advocacy campaign, A Home of Our Own, led by young people
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Further grow and develop Settle’s young person’s advocacy forum, ensuring the voice of care-experienced young people sits at the heart of our work
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Build new relationships and creative alliances in the sector
3. Strengthen our foundations
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Increase and diversify our income to £2 million by 2027/28, up from £1.2 million in 2024/25
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Increase our team size in line with growth in our reach and ambition
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Broaden the lived experience and diversity of the team and maintain a culture that prioritises wellbeing, performance and retention
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Settle Annual Report
Settle continued to grow in the financial year 2024/25. Income increased by 36%, with growth across all income streams, whilst expenditure increased by 25%.
Key financial measures are outlined below:
Total Income (£ million)
Financial review
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1.5
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1.0
0.5
0
2021/22 2022/23 2023/24 2024/25
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2022/23 2023/24 2024/25
Grant Income (%) by type of funder
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50%
40%
30%
20%
10%
0%
Traditional Grant Making Engaged Philanthropy Corporate Foundations Innovation & other
Trusts grants
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Grant Income (%) by funding period
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80%
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60%
40%
20%
0%
Multi year grants One year grants - One year grants - new funders
existing & previous funders
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Income Expenditure
75% Staff costs
Interest 4%
Donations 5%
Delivery income 8% 2% Non-staff delivery costs
2% YP support services
2% Community & advocacy
Grant income 83%
19% Other costs
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£325,000 from 5 funders (2023/24: £84,956, 2 funders).
Income
In 2024/25, total income increased by £321,990 to £1,206,880 (2023/24: £884,890).
Partner income
Settle worked with 7 fee-paying partners during the year. In addition to one housing association and five existing local authority partners, we began working with Brent Council. Contract income increased by £5,005 to £98,678 (2023/24: £93,673). Settle also broadened engagement with non-paying charity partners, accepting referrals from two organisations, and welcomed a number of self-referrals from young people.
Grants
Total grant income increased by £259,541 to £991,615 (2023/24: £732,074) with increases in both restricted and unrestricted grant income.
Restricted grant income increased by £166,041 to £745,615 with grants from 14 funders (2023/24: £579,574, 14 funders) and unrestricted grant income increased by £93,500 to £246,000 with grants from 5 funders (2023/24: £152,500, 3 funders). Pleasingly, the value and number of multi-year grants increased significantly with £692,615 from 9 funders (2023/24: £400,868, 4 funders).
Donations
Settle’s donation income increased by £37,438 to £66,751 (2023/24: £29,313). The increase largely relates to being selected as a corporate charity partner, which generated £28,950 of additional one-off income. Our annual winter fundraising campaign exceeded its £15,000 target again, raising £17,462 (2023/24: £20,966).
Existing funders continued to support Settle, with 4 renewals / new grants. Settle also diversified grant income, welcoming 5 new funders during the year. In particular, we significantly developed our funding from newer family foundations and other ‘engaged philanthropy’ funders, securing
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Expenditure
Total costs increased by £196,178 to £983,548 during the year (2023/24: £787,370).
Staff costs
Staff costs increased by £113,477 to £737,377 (2023/24: £623,900), reflecting inflation, staff progression, team growth (from 15.1 to 15.9 FTE) and changes in the composition of the team.
Non-staff costs
Non-staff costs increased by £82,699 to £246,170 (2023/24: £163,470). The underlying increase in costs was more modest, with the majority of the reported increase relating to nonrecurring costs, including external consultancy support to cover a fundraising team vacancy and costs associated with recruitment of our new CEO.
Settle refined its analysis of Charitable Activities, Cost of Raising Funds and Support Costs during the year. Further details are provided in Note 2 on page 50.
Surplus
Overall, Settle reported a surplus of £223,332 (2023/24: £97,520), £118,000 above budget.
Whilst income was slightly above budget (£15,000, 1%), costs were £103,000 (10%) below budget mainly due to salary savings associated with slower than planned growth. Overall this resulted in a £118,000 positive budget variance.
The surplus comprised a £239,177 unrestricted funds surplus and a £15,845 restricted funds deficit, reflecting a shift from restricted to unrestricted income during the year.
Fundraising and future prospects
In line with the ambition of our new 25-28 strategy, we have set significant growth targets for 2025/26, and developed detailed plans to achieve these.
Over the last two years, Settle has developed our fundraising capabilities and prospects, to position ourselves to achieve our future targets:
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building our network of funders
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increasing income from multi-year grants
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diversifying income streams, significantly growing our engaged philanthropy funding
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cultivating relationships with committed funding partners
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expanding fundraising capacity
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investing in pipeline development
Reserves
Total reserves increased to £947,012 (2023/24: £723,680), with restricted reserves decreasing by £15,845 to £265,590 (2023/24: £281,435) and unrestricted reserves increasing by £239,177 to £681,422 (2023/24: £442,245), equivalent to 6.4 months of expenditure at 31 March 2025 (2023/24: 4.9 months).
The increase in unrestricted reserves is attributable to the two key factors discussed above, namely:
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better than expected surplus, with higher than anticipated donation income and cost savings
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change in income mix, from restricted to unrestricted funds
The income target for 2025/26 has been set with regard to the better than anticipated performance in 2024/25, and will rebalance the level of unrestricted reserves to between 5 and 6 months of expenditure by the end of 2025/26.
Reserves policy
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 review the range and set a specific target depending on prevailing risk factors (including the annual budget, levels of confirmed income, restricted reserves, profile of income from multi-year grants and potential opportunities).
For the year ending 31 March 2025, the free reserves policy range of 4 to 6 months of expenditure was equivalent to £424,000£636,000, with the specific free reserves target set at the top of this range – £636,000, or 6 months of expenditure (2023/24: 5 months).
The specific free reserves target for the year ending 31 March 2025 was increased to 6 months, to reflect increased risk associated with:
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reduction in restricted reserves
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end of a key multi-year grant during 2025/26 (funder’s criteria changed, Settle no longer eligible for future grants)
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launch of Settle’s ambitious new threeyear strategy, with significantly higher income targets from 2025/26
Settle’s three-year strategic plan requires a significant increase in income, from £1.2m in
2024/25 to nearly £2m by 2027/28. We have cultivated relationships with a broad range of partners and funders, diversified grant income streams (significantly growing funding from engaged philanthropy), increased the proportion of our income from multi-year grants and expanded our fundraising capacity in order to achieve these ambitious targets.
The unrestricted reserves position of £681,422, equivalent to 6.4 months of expenditure, is £45,422 above the £636,000 target. The trustees consider this reasonable in the short term given:
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increased 2025/26 income targets
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reduction in restricted reserves
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planned return to 6 months of expenditure or below by 31 March 2026.
Going concern
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern for at least the next 12 months from the signing of these accounts. See Notes to the Financial Statements (Note 1c page 47) for further information on how this conclusion has been reached.
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Risk management and uncertainties
The trustees are accountable for ensuring that effective risk management practices are in place. The trustees 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:
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Fundraising: Settle relies on grant income to fund ~80% of its operations. In an increasingly challenging fundraising environment, this creates ongoing risk. Settle closely monitors income and future funding requirements, and maintains a robust pipeline of potential funders. In 2024/25, we increased the proportion of multi-year grants in our funding mix, mitigating uncertainty over future income. We broadened our funder base and diversified our sources of grant income, significantly increasing grant funding from newer family foundations and other engaged philanthropists. We were also able to increase our unrestricted reserves, providing a further level of security.
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Young people referrals: Settle is reliant on local authorities and other partners to refer young people to us for support. Working with more partners is critical to expanding our reach. The financial and operational pressures on local authorities impact on their capacity to make referrals and new partnership commitments. The staff team actively monitors and manages referrals. In 2024/25, we increased our capacity to develop and maintain referral partnerships, with the appointment of a Senior Partnerships Manager.
-
Safeguarding: Settle works with young people living in difficult circumstances, who often 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 supervision to ensure concerns are managed effectively and in line with best practice. The designated safeguarding lead in the senior leadership team and on the board of trustees meet quarterly to discuss strategic safeguarding issues. We have robust safeguarding policies and procedures in place which are reviewed annually.
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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2024-25
Acknowledgements
Thanks go to our incredible network of funders. Without their support, none of this year’s achievements would have been possible.
THE ALBERT HUNT TRUST THE JONGEN CHARITABLE TRUST
THE BERKELEY CHARITABLE JP MORGAN CHASE FOUNDATION FOUNDATION MARIA MARINA FOUNDATION
BLEU BLANC ROUGE FOUNDATION
THE NATIONAL LOTTERY CHARLES HAYWARD FOUNDATION COMMUNITY FUND
THE CHERRY FAMILY FOUNDATION NATIONWIDE BUILDING SOCIETY
COMIC RELIEF RL GLASSPOOL CHARITY TRUST
SCHRODERS PLC
THE CONSIDERED ASK FOUNDATION
SOCIETY OF THE HOLY CHILD JESUS
THE CRISEREN FOUNDATION
TALISMAN CHARITABLE TRUST
THE DRAPERS’ CHARITABLE FUND
THOMAS CORAM FOUNDATION FOR CHILDREN, WITH SUPPORT FROM THE OAK FOUNDATION
THE ENTERPRISE DEVELOPMENT FUND, SUPPORTED BY ACCESS – THE FOUNDATION FOR SOCIAL INVESTMENT
THE TOLKIEN TRUST
WINTER CAMPAIGN 2023, MATCH FUNDED THROUGH THE BIG GIVE CHRISTMAS CHALLENGE 2023
GARFIELD WESTON FOUNDATION
HACKNEY COUNCIL
WINTER CAMPAIGN 2024, MATCH FUNDED BY THE AVIVA COMMUNITY FUND
HENRY SMITH FOUNDATION
HT AND LB CADBURY CHARITABLE TRUST
Financial statements
JOHN LYON’S CHARITY
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Reference & administrative details
Registered name Settle Support Charity registered number 1162399 Trustees Sarah Byrt Daniel Comach (appointed: 30/10/2024) Aaliyah Fozol (appointed: 04/02/2025) Mary-anne Hodd Jermaine King-Kabali Kathleen Mohan Neel Parti (appointed: 04/12/2024) Rachel Smith Robert John Trimble (resigned: 12/07/2024) Marion Wadibia (resigned: 12/03/2025) Elizabeth Winder
Senior Leadership Team Richard Grahame - Chief Executive (until 14/03/2025) Daniel Jones - Chief Executive (from 14/03/2025) Aimee Hardaker - Chief Operating Officer Lisa Braden - Head of Business Development Penelope Day - Head of Fundraising Alan Morton - Strategic Finance Lead
Principal office address The Dock and registered address Tobacco Dock Wapping Lane, London, E1W 1SF
Auditor Liv Burrell ACA CTA (Senior Statutory Auditor For and on behalf of: Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD
Bank Triodos Bank UK Deanery Road Bristol, BS1 5AS
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:
-
To relieve those in need by reason of homelessness or adverse housing conditions; and
-
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 2025, comprised of nine members (2023/24: eight).
Trustees as of the date of this report or who served during the year were:
Sarah Byrt Daniel Comach (appointed: 30/10/2024) Aaliyah Fozol (appointed: 04/02/2025) Mary-anne Hodd Jermaine King-Kabali Kathleen Mohan Neel Parti (appointed: 04/12/2024) Rachel Smith Robert John Trimble (resigned: 12/07/2024) Marion Wadibia (resigned: 12/03/2025) 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 the Chief Executive, is responsible for the implementation and delivery of strategy and day-to-day operations of the charity.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SETTLE SUPPORT
Opinion
We have audited the financial statements of Settle Support (the ‘charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the charity’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or
-
adequate accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records
-
and returns; or
-
we have not received all the information and explanations we require for
-
our audit
Responsibilities of Trustees
As explained more fully in the Trustees’ Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees intend to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
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considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
-
The Charity is required to comply with charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.
-
We gained an understanding of how the charity complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.
-
The audit team, which is experienced in the audit of charities, considered the charity’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.
-
Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken, so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report or for the opinions we have formed.
Liv Burrell (Nov 21, 2025 15:31:18 GMT)
Liv Burrell
65 Leadenhall Street London EC3A 2AD
Knox Cropper LLP Statutory Auditor
Statement of Financial Activities for the year ended 31 March 2025
| 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 |
2024/25 Unrestricted Funds 2024/25 Restricted Funds 2024/25 Total 2023/24 Total RESTATED* £ £ £ £ 246,000 745,615 991,615 732,074 98,678 - 98,678 93,673 49,289 17,462 66,751 29,313 49,836 - 49,836 29,830 |
|---|---|
| 443,803 763,077 1,206,880 884,890 (157,533) (675,411) (832,944) (642,592) (47,093) (103,511) (150,604) (144,778) |
|
| (204,626) (778,922) (983,548) (787,370) |
|
| 239,177 (15,845) 223,332 97,520 - - - - |
|
| 239,177 (15,845) 223,332 97,520 |
|
| 442,245 281,435 723,680 626,160 |
|
| 681,422 265,590 947,012 723,680 |
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 and details on the restatement of 2023/24, Total Income, Total Expenditure & Net Income are unchanged.
The accompanying notes form part of these financial statements.
Date: 21/11/2025
Knox Cropper LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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Balance Sheet for Settle Support at 31 March 2025
| Notes 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 funds 11,12 Unrestricted funds Total charity funds |
2024/25 Total Funds £ 2023/24 Total Funds £ 21,641 30,345 339,161 356,806 638,715 366,254 |
|---|---|
| 999,517 753,405 (52,505) (29,725) |
|
| 947,012 723,680 |
|
| 947,012 723,680 |
|
| 265,590 281,435 681,422 442,245 |
|
| 947,012 723,680 |
The accounts were approved by the board of trustees and approved for issue on 18 November 2025.
Sarah Byrt
Trustee on behalf of the board of trustees
The accompanying notes form part of these financial statements.
Statement of Cash Flows at 31 March 2025
| Note Cash fows from operating activities: Net cash provided by (used in) operating activities A Cash fows from investing activities: Purchase of fxed assets Investment Income Net cash provided by/(used in) investing activities Change in cash & cash equivalents in the reporting period Cash & equivalents at the beginning of the reporting period Cash & equivalents at the end of the reporting period B |
2024/25 £ 2023/24 £ |
|---|---|
| 204,980 33,478 |
|
| - - 49,836 29,830 |
|
| 49,836 29,830 |
|
| 254,816 63,308 723,060 659,752 |
|
| 977,876 723,060 |
A. Reconciliation of Net Income to Net Cash Flow from Operating Activities
| Net income for the reporting period Add back: Depreciation charges Less: Investment Income Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by (used in) operating activities B.Analysis of Cash and Cash Equivalents Cash in hand and in bank Short term deposits Other cash equivalents Total cash and cash equivalents |
2024/25 £ 2023/24 £ 223,332 97,520 - 200 (49,836) (29,830) 8,704 (18,558) 22,780 (15,854) |
|---|---|
| 204,980 33,478 |
|
| 2024/25 £ 2023/24 £ 638,715 366,254 339,161 356,806 - - |
|
| 977,876 723,060 |
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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 consider that there are no material uncertainties which would cast doubt on the Charity’s ability to continue as a going concern based on consideration of a range of information presented to the Board and Finance Sub Committee. This has included budget plans for 2025/26, management updates & re-forecasts and associated papers (including the long term Strategic Plan). Trustees have also reviewed the risk register during the year and considered how emerging macroeconomic risks including inflation are managed through budgeting and forecasting processes. The free reserves position of the Charity has also been monitored against the targets set in long-term and annual budgets and plans, to inform the view that the Charity remains a going concern.
Accounting policies
d) 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.
e) Income
Income is recognised and included in the Statement of Financial Activities when the charity becomes entitled to the income, receipt is probable and the monetary value can be measured with sufficient reliability. The following specific policies are applied to particular categories of income:
Grants and contract income are credited to the Statement of Financial Activities when receivable, unless they relate to a specified future or prior period, in which case they are deferred or accrued respectively.
Voluntary income received by way of donations and gifts are recognised when receivable or when the Charity becomes legally entitled to them and receipt is probable and they can reasonably be measured in financial terms.
Investment income is recognised at the time it becomes receivable.
f) 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.
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.
Support cost allocations (Note 2)
Costs not directly attributable to a specific activity have been allocated as follows:
Indirect staff costs Staff time by activity Support staff costs Total cost of activity
Office & administration, recruitment, Number of FTE staff by activity training & team welfare, IT & HR
Comms & website, insurance, finance, Total cost of activity governance & other
g) 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.
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h) 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 bank 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.
i) Taxation
As a registered charity, Settle Support is exempt from taxation of its income or gains to the extent that they fall within the charity exemptions in the Corporation Taxes Act 2010.
2. Analysis of expenditure
| Activity Costs Direct staff costs Indirect staff costs YP Grants Mental Health support Other direct costs Other indirect costs Total activity costs Support costs (see below) Total costs |
Charitable Activities Cost of Raising Funds Total The Settle Programme Community & Advocacy Sub-total 2024/25 2024/25 2024/25 2024/25 2024/25 £ £ £ £ £ 337,160 41,378 378,538 71,458 449,996 98,942 10,942 109,884 9,053 118,937 13,362 - 13,362 - 13,362 3,055 - 3,055 - 3,055 17,326 22,592 39,918 31,309 71,227 33,181 - 33,181 - 33,181 |
|---|---|
| 503,026 74,912 577,938 111,820 689,758 |
|
| 226,109 28,897 255,006 38,784 293,790 |
|
| 729,135 103,809 832,944 150,604 983,548 |
j) Pensions
Settle Support 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.
Support costs
| Staff costs (excluding governance) Offce & administration Other costs Governance_(see below)_ Total support costs Governance costs: Staff costs Audit / Independent Examination fee Other governance costs Total governance costs |
2024/25 2023/24 £ £ 156,423 127,288 40,266 33,645 74,358 53,802 22,743 11,071 |
|---|---|
| 293,790 225,806 |
|
| 12,022 9,252 7,800 1,500 2,921 309 |
|
| 22,743 11,071 |
The support costs for 2023/24 have been restated in order to be consistent with the methodology used in 2024/25. This change in methodology reflects a more detailed analysis of shared costs. The total expenditure for 2023/24 remains unchanged.
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2023/24 Comparative
4. Trustees’ remuneration, benefits and expenses
During the year none of the trustees received any remuneration from the charity (2023/24: no trustees, £0).
| Charitable | Cost of | Total | |||
|---|---|---|---|---|---|
| Activities | Raising | ||||
| Funds | |||||
| The Settle | Community | Sub-total | |||
| Programme | & Advocacy | ||||
| 2023/24 | 2023/24 | 2023/24 | 2023/24 | 2023/24 | |
| £ | £ | £ | £ | £ | |
| Activity Costs | |||||
| Direct staff costs | 294,484 | 28,135 | 322,619 | 84,136 | 406,755 |
| Indirect staff costs | 63,481 | 8,759 | 72,240 | 8,354 | 80,594 |
| YP Grants | 10,108 | - | 10,108 | - | 10,108 |
| Mental Health support | 10,103 | - | 10,103 | - | 10,103 |
| Other direct costs | 13,460 | 8,024 | 21,484 | 3,608 | 25,092 |
| Other indirect costs | 17,968 | - | 17,968 | 10,944 | 28,912 |
| Total activity costs | 409,604 | 44,918 | 454,522 | 107,042 | 561,564 |
| Support costs (see | |||||
| previous) | 170,486 | 17,584 | 188,070 | 37,736 | 225,806 |
| Total cost | 580,090 | 62,502 | 642,592 | 144,778 | 787,370 |
3. Employees & staff costs
Total staff costs were £742,377 (2023/24: £623,900), comprising:
| 2024/25 £ 2023/24 £ |
|
|---|---|
| Salaries | 649,306 553,116 |
| Pension costs | 25,253 20,474 |
| Social security costs | 67,818 50,310 |
| Employee costs | 742,377 623,900 |
Settle employed 15.9 full-time equivalent staff during the year (2023/24: 15.1). The average employee headcount during the year was 17.1 (2023/24: 16.4). One employee earned over £60,000 (2023/24: no employees earned over £60,000).
Key management personnel: Total employee benefits (including employers’ NI and pension contribution) of the CEO and COO was £127,602 (2023/24: £116,938).
During the year one trustee paid, and was subsequently reimbursed, for costs of £318 incurred on behalf of the charity (2023/24: no trustees, £0).
During the year no trustees incurred any expenses (2023/24: no trustees, £0).
During the year one trustee, a Settle Programme graduate, received £48 for participation in Settle Community & Advocacy related activities (2023/24: one trustee, a Settle Programme graduate, received £15 for participation in an alumni activity).
5. Related party transactions
There were no related party transactions other than the payments outlined in 4. above (2023/24: none other than the payment outlined in 4. above).
6. Audit fees
The fees payable to the auditor in relation to conducting the audit were £6,500 (excluding VAT) (2023/24: the fees payable to the independent examiner in relation to conducting the independent examination were £1,250 (excluding VAT)).
7. Tangible fixed assets
| 31 March 2025 Cost |
Computer equipment £ Total £ |
|---|---|
| Opening balance | 2,150 2,150 |
| Additions during the year | - - |
| Disposals during the year | (1,550) (1,550) |
| Closing balance | 600 600 |
| Accumulated depreciation | |
| Opening balance | 2,150 2,150 |
| Charge for the year | - - |
| Disposals during the year | (1,550) (1,550) |
Closing balance |
600 600 |
| Net book value at 31 March 2025 | - - |
| Net book value at 31 March 2024 | - - |
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8. Debtors
| 31 | March | 31 March | |
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Debtors | 2,400 | 9,000 | |
| Prepayments and accrued income | 19,241 | 21,345 | |
| Total | 21,641 | 30,345 |
9. Current asset investments
| 31 March | 31 March | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Cash equivalents on deposit (maturing between | 339,161 | 356,806 |
| 3 and 12 months) | ||
| Total | 339,161 | 356,806 |
10. Creditors: amounts falling due within one year
| 10. Creditors: amounts falling due within one year | 10. Creditors: amounts falling due within one year |
|---|---|
| Accruals Creditors Deferred income Total |
31 March 2025 £ 31 March 2024 £ 11,691 8,960 37,296 7,565 3,518 13,200 |
| 52,505 29,725 |
|
| Movement in deferred income | |
| Balance at the beginning of the year Amount released in the year Amount deferred in the year Balance at the end of theyear |
31 March 2025 £ 31 March 2024 £ 13,200 25,143 (13,200) (25,143) 3,518 13,200 |
| 3,518 13,200 |
11. Restricted funds
During the year Settle received 18 restricted grants (including one specific fundraising campaign) from 15 funders (2023/24: 16 restricted grants (including one specific fundraising campaign) from 15 funders), amounting to £698,077 (2023/24: £600,540) for the following:
| Restricted Grant | Purpose | 2024/25 | 2023/24 |
|---|---|---|---|
| £ | £ | ||
| JP Morgan Chase Foundation | Programme & support costs | 195,000 | 190,000 |
| The National Lottery Community | Staff and core costs | 117,115 | 97,868 |
| Fund | |||
| Anonymous foundation | Staff & core costs | 80,000 | - |
| Henry Smith Foundation | CEO costs | 60,000 | 30,000 |
| Henry Smith Foundation | Programme Manager costs | 40,000 | 39,000 |
| John Lyon’s Charity | Programme replication costs | 50,000 | 44,000 |
| John Lyon’s Charity | Programme costs | 30,500 | |
| TheTolkienTrust | Core costs | 40,000 | 40,000 |
| The Berkeley Charitable | Partnerships Manager costs | 30,000 | - |
| Foundation | |||
| Charles Hayward Foundation | Coach costs | 25,000 | - |
| The Drapers’ Charitable Fund | Coach costs | 21,500 | - |
| Comic Relief | Staff costs and running | 20,000 | - |
| costs | |||
| Winter Campaign 2024*, match | Coach costs | 17,462 | - |
| funded by the Aviva Community | |||
| Foundation | |||
| Thomas Coram Foundation for | Community programme | 15,000 | - |
| Children, with support from the | costs | ||
| Oak Foundation | |||
| The Enterprise Development | Partnership development | 12,500 | 12,500 |
| Fund, supported by Access – The | costs | ||
| Foundation for Social Investment | |||
| The Albert Hunt Trust | Core costs | 7,000 | 7,000 |
| Talisman Charitable Trust | Support for young people | 2,000 | - |
| Garfeld Weston Foundation | Core costs | - | 50,000 |
| Christmas Campaign 2023*, match | Coach costs | - | 20,966 |
| funded through the Big Give | |||
| Christmas Challenge 2023 | |||
| The Cherry Family Foundation | Mental Health Support costs | - | 20,000 |
| Hackney Council | Programme staff costs | - | 18,000 |
| The Hyde Foundation | Support for Hyde Housing | - | 10,000 |
| tenants | |||
| Society of the Holy Child Jesus | Coach costs | - | 10,000 |
| RL Glasspool Charity Trust | Support for young people | - | 1,250 |
| The CriSeren Foundation | IT implementation costs | - | 9,956 |
| Total | 763,077 | 600,540 |
* Recorded in donations
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Settle Annual Report
2024-25
The open and closing restricted fund balances and movement in restricted funds during the year are outlined below:
| JP Morgan Chase Foundation The National Lottery Community Fund Anonymous foundation Henry Smith Foundation Henry Smith Foundation Garfeld Weston Foundation John Lyon’s Charity John Lyon’s Charity TheTolkienTrust The Berkeley Charitable Foundation Charles Hayward Foundation The Drapers’ Charitable Fund Comic Relief Winter Campaign 2024 Thomas Coram Foundation for Children The Enterprise Development Fund TheAlbert Hunt Trust Talisman Charitable Trust Christmas Campaign 2023 Hackney Council The Cherry Family Foundation Society of the Holy Child Jesus |
Balance at 1 April 2024 £ Income £ Expenditure £ Balance at 31 March 2025 £ 60,468 195,000 (152,765) 102,703 7,332 117,115 (114,583) 9,864 - 80,000 (69,705) 10,295 15,749 60,000 (65,894) 9,855 - 40,000 (40,000) - 48,730 - (48,730) - 8,886 50,000 (44,605) 14,281 - 30,500 (27,079) 3,421 25,346 40,000 (42,733) 22,613 - 30,000 (17,937) 12,063 - 25,000 - 25,000 - 21,500 (21,500) - - 20,000 (8,521) 11,479 - 17,462 - 17,462 - 15,000 (3,361) 11,639 12,089 12,500 (24,589) - 7,000 7,000 (7,000) 7,000 - 2,000 (2,000) - 20,966 - (20,966) - 18,000 - (18,000) - 11,985 - (4,070) 7,915 10,000 - (10,000) - |
|---|---|
| Nationwide Building Society | 28,570 - (28,570) - |
| Christmas Campaign 2022 Total restricted funds |
6,314 - (6,314) - |
| 281,435 763,077 (778,922) 265,590 |
2023/24 Comparative
| JP Morgan Chase Foundation The National Lottery Community Fund Henry Smith Foundation Henry Smith Foundation 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 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 |
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Settle Annual Report
2024-25
13. Comparative Financial Statements (2023/24)
12. Analysis of net assets between funds
| 12. Analysis of net assets between funds | 12. Analysis of net assets between funds |
|---|---|
| Tangible fxed assets Current assets Creditors: amounts falling due within 1 year Total |
Restricted Funds 31 March 2025 £ Unrestricted Funds 31 March 2025 £ Total 31 March 2025 £ Total 31 March 2024 £ - - - - 288,593 710,924 999,517 753,405 (23,003) (29,502) (52,505) (29,725) |
| 265,590 681,422 947,012 723,680 |
|
| 2023/24 Comparative | Restricted Funds 31 March 2024 £ Unrestricted Funds 31 March 2024 £ Total 31 March 2024 £ - - - 284,971 468,434 753,405 (3,536) (26,189) (29,725) 281,435 442,245 723,680 |
| Tangible fxed assets Current assets Creditors: amounts falling due within 1 year Total |
Restricted Funds 31 March 2024 £ Unrestricted Funds 31 March 2024 £ Total 31 March 2024 £ - - - 284,971 468,434 753,405 (3,536) (26,189) (29,725) |
| 281,435 442,245 723,680 |
Statement of Financial Activities
| Year ending 31 March 2024 Notes Income from: Grants Contract income (charitable activities) Donations Interest income Total Income 11 Expenditure on: 2-6 Charitable activities 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 RE-STATED 2023/24 Restricted Funds RE-STATED 2023/24 Total RE-STATED £ £ £ 152,500 579,574 732,074 93,673 - 93,673 8,347 20,966 29,313 29,830 - 29,830 |
|---|---|
| 284,350 600,540 884,890 (124,969) (517,623) (642,592) (79,055) (65,723) (144,778) |
|
| (204,024) (583,346) (787,370) |
|
| 80,326 17,194 97,520 - - - |
|
| 80,326 17,194 97,520 |
|
| 361,919 264,241 626,160 |
|
| 442,245 281,435 723,680 |
The 2023/24 figures have been re-stated so that expenditure on charitable activities and raising funds is calculated on a consistent basis with the 2024/25 figures. Total Income, Total expenditure, Net Income and the split between Unrestricted Funds and Restricted Funds are unchanged.
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