Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 Charlty Irgisti'atlon numbei. 1164S23 Compfiny reglstrotlon iiumbei. 09497463 ngland and Wales) ONETRUST ANNUAL REPORT ATr4D f*lNANCIALSTATEMENTS FOR THE YEAR ENDED31 MARCH 2024
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees D Pyper M Lennard (Chair) WRLOlmi M H Stennett C Biyant-Dunn Charity numbei. 1164523 Comi)Iny number 09497463 PrlncÉpAI address The Light Bulb Unit Lu.Crl, l Filament Walk, London, Engl4nd, SW184GQ Registeiyd office Tlie Light Bulb Unit Lu.Crl, Filament Walk, London, En¥land. SW18 4GQ Auditor LB Group Limited 19th Floor I Westfield Avenue Stratford E20 IHZ
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST CONTBNTS PAge Trustees, report Statement of Trustees, resw>risibilities Independent audiioi's report 10- 12 Statemet)t of financial actEVlties E3 Balanee sheet 14 Statement of cash tIow5 15 Nol¢s lo the fitiancial statements 16-26
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTEII S. REPORT (JNCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 TheTruste¢s present their annual report and fin&ncial stat¢menls for the year ended 31 March 2024. The accounts have be¢n pr¢pared in accordance with the accounting policies set out iii note I lo tl)e aeeounls and comply with the chai'ity's Mernoiartduni and Articles of Association, Ihc Companies Act 2006 and"Accounting and Reporting by CharitiES-. qtatemcnt of Recoi#mended Practice applicable to chai'ilies prepariiig their account5 in accordaiice widi the Financial Reporting SÉandard applic&ble iii th¢ UK and Kepublib of Ireland IFRS 1021 leffe¢tive l January 2015)" Objectlve5 atllvlties The C.onJpany has been established for public bEnEfit to.. Provide a range of personolised support to adults with learning disabilities whts may also have a phy5iGal disability andlor einotional difficulties,. andloi. niediral conditions. Pursu¢ 5u¢h other Vliavilable purposes ¢oi)sistent wEth the abcve as the Th]stees in th¢ir absolute discretion shall dderinine (together the"Objects-). There ha5 been no ¢han8e to these objectives and a¢tivities durlIg the P¢Tiod whilst Ihc vi5iott Jtid misston foi. 01 Trust as an or8aiJisation translate these objectives into a longei'.teYm slraltgy. namely., Tlie One Trust visio To deliver outstanding and inspiring sevvices gnd opportunities ti) people wÈth leaming disability and th¢ii families ellabling th¢in to reali5e their aspirations and ¢njoy br08d and fulfilling liv¢s. Our mlssion Providing outstanding service. opportunity, Iheixpy. ad respite to individuals with learnKn8 dlsability and iheij. families. Nurturin8 a Comiunity of open partnership with familie$ and suppirt¢rs via ali i115Pit¢d, valued, agile al sp¢¢ialised workforce, and ihe embracement of research and development. This iEsults in the ultiniate provision of personali5ed 5UPPOrt. Int)ovative, safe. p¥otIVe, flexible; dedicaled lo inclusivity and equality, On¢ Trust Iljspires. The Trustees h&ve paid due regard to guid8n¢e issued by the Charity Cominission lil deciding what a¢livilies the charity should undertake. Summaiy of tht m8111 IlCtlvÉties in relation to those purposes for the publlc benefit. in pai'ticvlxr, the ActtvitieS pi'oleets oi. services Identified Sn the fieCOUJkts. Actlvllles/seTviees P¢ople with leaiirtg disabilities are often th¢1¢35t understood, least visible, and mostvulnerable Ine1be1$ of socÉety, One Trust is dedicated to siipporting this coinniiinity. We seek to PTovid¢ tlie best day p05sihlt through the piDvision of a broad range of social. therap¢utiE aDIl personal care. As a iysult, farnily raTers reccive ti'ue respite, in the k210wledge that Iheii. family member Is safe, engaged in i))eanit)gful and per.wn-ccntrcd activities and suppoited by people with exl'tIs¢ itnd experience who ¥enuinely care. On¢ TNst provisioll often provides the support fainilie5 need to Continue cai'jii8 for their family inembErs at home. To ac¢¢ss our sErvire5, people must be over the age of 18 and have a leariting disability- All accepted ref¢tYals are on a 5POt purGhase basis. Accepting referrals is baged Upon the suitability of our PTovision and the peison'5 Ivlsh io access our SeTvice offeritkg. Since our in¢¢ption in 2015, we have become inor¢ specialised. Strategically, we are now commitled to fjlling th¢ void of provision fov people with profound and inultiple leaming disabilities IPMLDI, Snd t1105¢ Lrquiring positive behavioural support (PBSI. We aK¢ broadly TEiSed by coinmlssione as E high-quality, spe¢ialisl provider. Di$¢ontlnued provlsio Duvillg ttLe firEt t¢n montl?s of the financial year, Ojie Trust delivered provisioth froni 5 establithed servi¢e sites. ChLireh Lane, a purpose de5ign¢d and resourced building e8tablished to support the specific and ¢omplex needs of individuals with {PMLDI. This buildia]g Iioused facilities ih8¢ allowed One TINSI lo deliv¢i' theiypies and complex care that would otherwise be impossible in a ¢omiiiunity 5¢tting. Whilst servsce users received moiE 5p¢Giali5ed sllpport at the building, Ih¢y also mad6 full use of everyday resources in the community.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTEES, REPORT (INCLUDINC DIRECTORSI REPORT) (CONTINUEI D) FOR THE YEAR ENDED31 MARCH 2024 Church Lane facilities itscluded.. Sensory room Mu%ic thCpY cabin Physiolherapy Toom Ma9sage IDOM Glen1 seiisory garden Gai'den cabins Wet l'oom changing facillties. Ceiling track lioists We also OP¢Tated fmin three social bases in Putney, Walldsworth, &rsd Tooting. These were in community buildings aajd shared with other coinmunity groups. The basE5 Ptovided a safe space to deliver a range of activities and easy &iid frequent access to everyday cojnmunity r¢sour¢es. Wxndsworth co¢11 eoneessiTrn eontnLCt Siiice October 2015. & siz&ble portioti of our refcrrals Iiad Come to us from Wand5wor¢li Council. Our initial contract terms were a 4, plus 4 concession conlix¢ls. The COllC¢S51QtI was the use of our Church LAne site, o buildillg, 5peGi&lly adapted to cater foi. the need5 of individuals with PMLD. In May 2023, Wand5WOrth CouncEI look the decision to plCure 5eivices through a framewoi'k agi'etmeni. setting out the crtteria foi. inclusiom on their framework and an indicativ¢ budget foi. variou5 lols Ihal would be put out to tende¥. The lot of interest to One Trust was the provision of specialisl p14ced based services. After car¢fvl consideraiion of the temis of thE framework ai)d itutic&tsve budgrt for sllpplying services. the One Thwst Chief Exe¢ulive, suppoited by the BoaiQ, took the deci510rt not to apply to join the fi2mework. This decision was b6sed on One Trnst's ¢ore piillciple, naniely, to provide exceptional services. The Board conGILided that tlw terms of the framework would gmpromise the Charili¢s' ability to deliver higli quality provision alld iEtnaÉn a going concern. In the opinion of One Tivst, it was agreed that joillsng the fr8niewoTk would not be in the best interests of seivi¢e us¢i3 and would colproMise seivic¢ standa¥ds for the LeaiTring Disability comMulty in the future. Following Wandswortli Council's unsuccessful pro¢urenJent exereise, Tlie Chii'ity entev¢d itjto t)e8OtiatlOll5 Wlth the Council to eKlend th¢ concession LODtrac¢ by 12-niontlis, to allow the Council to retejider the pY(>vision. Oui. ncgotiAting position with the Coun¢il, was to SUPPDrt a number of stivic¢ users tiansilion to suitable alternative providers aiid negotiate a long-term agi'eemeTht to retain u5¢ Of the Chvr¢h Lane site to conltnye our specialisni, supporting individuals with PMLD. Two weeks prior to th¢ end of the con¢ession conlract ¢xpiratitsn, negotiations broke down with Wandswoith CoEJncil. A short extension was agreed, extenditlg the ¢ontra¢t to the 3 1st of january to allow for a handovei. to (heir new prefei'red providcr. One Tr'ust's shryLtegÉc obJeetlves. In 2022, One Trust 5Ct out 2-4-year strale8y, to ti?nsform services and iiiove away from ov¢r reliance 01) one funder. Strategi¢ objeeliv&8 includ4 DiversificatlDrt Df fundiiig sourc¢5. To provide a market leading PMLD 5¢rvi¢¢ model atjd building. To PTovid¢ a marker leading PBS seYvi¢¢ model and buildsng. Develop a n)arket leading quality framework and practiCE 51andards and the expand through influ¢Th¢4 advissng coinmissiot)ers and other OiEanisatiDns. LnEage in reseai'ch and development, Seeking contii)UOU5 iinprovement and outcomes for setvice users and their famElies. Devclop an in-house market leading training and development pmgram specialising in PMLD, PBS aiid buil¢ aiound One Tmst's mai*et leadin8 qLtality fvam¢work stalldaTds.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTEES, REPORT (INCLUDING DJREcfoRS' REPORT) (CONTINUE4 D) FOR THE YEAR ENDED 31 MARCH 21124 Tlie strategy is underpinned by the development of Iwo distiiict 5crvi¢es and service site5. One taterin8 for PEopl¢ with PMLD, and cn¢ to support individuals with leai'niiig disability iEquiring behaviDral suppoil. Othe Tvusl had already identified a void iii more spe¢ialisl provTSiOii and th¢ impact this wa5 having on individuals and their familie5. Over a period of sEv¢r41 years, Inost of the Charities, ieterrals liav¢ been for pcoplc with profound, cotnpl¢x, and ¢halletl8ing ne¢d5. The Charity vecognised that it did not have the capacity to meet demand for its services. Ill late 2022, a suitable sile was identified to develop a bchavioral support ieivice aiid &ieEotialions conim¢nced wilh thB landloiyl, Wot*spaee. One Tiust had hoped to secuir the continued use of its Church Latte site Oll a long l¢ase, to house the PMLD PTOV1510tI, unforluiiot¢ly tliis was Iiot accepted by Wattdswoiih Council. Following the fail¢d iiegotiatlOn5 for the use of the Cliurch Lane site, a decision was made to offer existing seTvice users, those not funded b>. Wandswoylh Couneil, a¢cess to ptDvision at our new site. The Light Bulb, l Filament Walk, Wandsworth, SWI 8 4GQ. Alongside a l'ushed exit fiY)In our concession contract with Wandsworth CounGil, we weie able to deliver the refuiSishmcnt of the Light Bulb, uii budget and on tiine. The service went live oil the I st of February to dovetail with tl)e end ofour contraci with Wandsworth Council, this provid¢d Inu¢li iieeded service continutty foj. Ihc people transferring. Post Llllltbch of the Light Bulb Since moviiig to the LÈght Bulb, we liave taken this oppothinity to ¢oiisolidate our good pi'adi¢e, enibed a i)ew quality framework, restru¢rure the team, and review our sei'vi¢e offering and transport pi'ovision. Ov¢rwhelmingly, people and thei¥ families have been posEtive about the iiew look 5eTvi¢e olld our IEpiilalion wilh families, COTnmissioii¢TS, schoo15, and tollegts rtimains very gotsd. We llow wot& with SWL ICB. Merton, Lanibeth, Souihwai'k, Killgston, and Suttoii alld have received nujnerous referrals since the 1st of Febnjary. In additioiTr, sevei21 Wandsworth Council fuiided servkce users h&v¢ wuested diirct payinEn15, su Ihat thty cats use our seivices ou14ide Ilic Waiid5woiih Council framework. Whilst the tnteres¢ in our seivice is positiv< w¢ once agasn fiiid ourselvcs lrt a position W,he demand for oui. seivices exGEeds our capacity. Strate8ic&lly our position ha5 tiot changed sillc¢ 2022. Whilsl it was disappoillting llot to have se¢ured continued use of tlie Churcli Lane site, we view tliis as a minor setbaek. delaying delivery of our strategy. We TeTnain coinniirted to providing two distiiict services and we are aetively looking to secure a suitable 5ervic¢ 51te to accommodate & behavÈoral support servi¢e within th¢ nexi 18 monihs. Cui'i'ent 5erYice offerlRg Our new sile &t the Liglit Bulb is slate of the ai1. housing all the irsources we had at our dispos&l al th¢ Church Lane site. Thvo inteTaGtive 8cn%ory spaces Musi¢ therapy room Physiotherapy room Ma55age Yoom Garde sensory garden Gard¢n cabin5 Wet room chaE]ging facilities. Ceilittg tiack hoi5¢5 .1 iaiT)ing Kitclien Activity iDoins. W¢ wntinue to provide liydrotherapy frol the Sutton Inclusion Centre. This pn)jecl 15 partly NHS grant funded and delivers 12-week blocks of hydrotherapy to more the 24 people across the year. Our physiotherapy team delivers hydrothei?py to both our sei'vic¢ uscrs and eommunsty referrals. We rejiiain con)mitted to SUPPDrting people beiiefiling frotm behavioral sypport and we have an established irputation workin with people on tlie autistic spe¢trum. Iti the next 18 Inoiiih8. we hope to secure a distin¢t servic¢ site. We beli¢vB Ihis will cirate an environment wljere iiidividuals can expitss themstlves fi]Ily and autoiioinously, with support to develop pe1%011 strategies to help them manag¢ challenging situations in A rrt)sitive way. Our current 5UPPOrt focuses on occupations, to promot¢ independenc¢ an(1 people's sense ot self determiiiaiion. Our approach also ¢oncenlrales on eommuiii¢ation to suppvrt p¢uple lo express thesr wishes oiid feel htard. Our missioll is lo end the cycle of cxclusion of people Exhibiling beh&viours thAt challenge, and throt]gh an established palhway, support people low&rds illdeptndente and integration so that they can live full ond rewarding lives. We collaboTate wilh several commutiity partn¢rs, including Action Space ati ails charity, and Thi'ive a hDrtiGultural Chai'ity. Engagement with our expert partners allows us to deliver activitics and projects beyoiid (h¢ capacity of our teatt).
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTECI S, REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCA 2024 We einploy a teal of experieE]ced support woteis, who have expcrtise in areas slleh as b¢h3vioural suppori. communication, sensory interaction, and th¢ maiiagenient of complex health ¢onditions. The team lableS us to work with the niost complex peopl¢, m&ny of whom have been excluded from otheT services unable to Cater for their cotnplex and cliallenging needs. W¢ also employ a team tsf specialists who work c105ely with NHS colleagues to deliver therapies and activEt1¢5. We ar¢ unique in thi8 arca and cmploy people with tliese specialisin5 to ¢nsuYe our servict users get vital ongoing therdpeutic support, SUPPOTt &1 a fr¢qllency that lirnited NHS capacity woiild t)ot be able lo piM)vide. Our team itjcludes, Band 7 physiotherapist Band 7 aquatherapist Music IhErapist Art Tutoi. Music tutors We provide a romprehensive tiansport service. which ¢nables people to get to and from th¢ seivice. a5 well as supporting access to cornrnunity resource5 during the day. Oui. trai)sport is provided by our 5LEPPDrt team, Éo ensure safe travel and dir¢ct communicatioii with fatiiilies and paid cairrs at the b¢giniiing and end of each day. The face-to-face transfei. of infoiThation is important as it ensures the team and family know what to expect a]id how best lo SppoI1 the pe0,$ Iieeds, mood, and health on the day. W¢ wntitiue to provide our family liaison support. Our dedicated liaison leain, who carers themselve& support fainilies with a range of issues includin8 care platitJin& fijndittg, referrals, amd health iiitcrvcntioll. We acknowledge th8t family car¢T5 n¢¢d time for th¢]n5elves a)d the opportunity to confydetttially sh&iE their feelings and concerns. A cornerslonE of our provision is suppoit for carers so thatthey feel sypported can continue to care for theii. loved oTr¢s It 1Me. W¢ understatEd the importance of robust clinical praclice and ovei. the past elteen months, w¢ have undertaken a full TeVI¢W of olli. quality fi'amework and clinical goveinance. Our woi'k practiGe is now stru¢tured aroutid processes w¢ have developed through the adoption of CQC compliant Quality Complian¢e Systen)s (QCS) policies. This provides assurance in areas such as are planning. safeguarding, risk assessm¢nt, medicaliDn adininistration, aDd health and 5dfety. We wntinue to provide a weekend seiviee between Éhe hout3 of 9am and 4pni on Saturdoys and Sundays. This seivice is a inlpartant source of iyspite for faTnilies. For many careis this 15 their pr¢feiY¢d model ofv¢spite as many find residet)tial re5PIt¢ disruptive for the persoi) they cal'e for. It is also less expensive residei)Éial brcaks. which nraiis familics aiE likcly to reG¢iV¢ Inore frequent lime away from the ¢&i'itig responsibilities. SummAry of the mgfrn gchTevements of the Chai'ityg Identifying th¢ dilference the Chirlty's iyork h4s Mde to the elr¢uinstances of its beneficifii-ies Any wider ben¢fits to society as A whole. One Trust Supported 106 seivice us¢rs dursng the year, providin8 over 193,000 hours of suppoit. Over the same pcriod, the family liaison team 8UPPOrt¢d more than 50 family carers and engaged in over 1.200 carer contacts and inlervenlions. One Ti'u5t launched a new web511E atjd braiiding. which are morr closely ali8ned to the work we do now, and the culture we are developing around tlie coirjmuniry we siippoil. One Trust has made significant investment in developKng a robust quality framewovk, one tIt iiifluen¢es practice 51andards, clinical governaiice, and the ¢xperietice of 5etvice u$eiE. All seTvi¢e user5 liave had an extensivE rBview of their care plan, and gllpporting information, covering risk as5¢55ment, coinmunication, dysphagi?, health and therap¢utic nea5, epilepsy, aiid safeguarding. The CaiE plan5 are now n)ore focused on und¢rstanding each pei"son's aspErations and i¢gular piDgr¢sb iEview against P¢Tsunal ou(comcs. The 5crvices provided by One Trust promote good he<h. SUPPK)Ited by tlierapeutic and pliysi¢al activity. Good clinical practjC¢. 5afegu&rds those with complex health n¢eds. Engagement in Ineaniiigful, person ceiitered, and social &Gtivity sUp>rtS wellbeing and posttive nieiilal healtl). Beliavioi?I sllpport eftables people to ¢Dgage Jiiore fully in their interests.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONETRUST TRUSTEEI S, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEIAR KNDED 31 MARCH 2024 Thc Yespit¢ ond support prc)vid¢d to family caT¢rs promotes wellbeillg and positive mental liealth. 118llows fainily carcts time to address their own needs and hove their Dwn identEty outside their cai'ing responsibilitie5. It Kiainta1115 family living aTI'angements, prevenfing people froin movitig inlii ¢osily irs2dential cair. One Trust moved into its ttew flagship service Site at the Lighi Bulb, deliv¢i'ing tlje refuibi5hmenl and launching the i*w servi¢¢ on time and on bLEdgd. Thi% 8crvice site now supports niore than 30 people across ihe week, with several n¢w reftrrals due to roinmence seivice wilh One Tj'ust by Iht autumn. The new service sile provisioii piovided fix)m the Liglit Bulb is ex¢epiional. Our sei'vice usets &nd their families ate happy witli tlie new look seivice and recognise the improveinertls thAt have been made. FlnAnclal Yevieiv Oui. total income foi. the year wa5 2023124 £3,795.413 (2Q22123 £3,706,257..). Income genetxted fiDm ¢harEtable actlVLti¢s totaled £3,793,044, up 20/ts from the £3,704,729 geneTrted in 2022123. Total expenditure on charitable activities was £3,836,477 {2022123 £3,796,821) up l /0. Oiie Trust's CR5h sition increased over the year, iyith £193,003 of cash and ea%h equivalen15 held &131 March 202412023.. £183,722}. The reasons for the £9,281 in¢age in total cash ale payments received in advanc6 for services provided foi. WBC. Overall resiilis this year show • deficit of £41.65012023.. deficit of £91,156). Operationally, the year has beett challenging. Un¢eilainty Tegarding 0r tonlr9Ctual relationship with Walldsworth Council led lo us incui'ring signsficant legal eosls relalsng to coiili'acts, leases. and staffing. We a150 incurird unusual costs Telating to moving preinises and winding up our relationship with Wandsworih Council. For tlie last two InL)rtlhs of the financial yeai., w¢ inGuritd proportionately l)igher managetnent costs against Irduced in(xime, cariyiRg a legacy of maiiageni¢Dt capacity commensurate witl) the size of oiir business prioi. lo tnd of our contractual r¢lationship with Wandsworth Council. We a150 made soine slTategic investments dui'iiig the second half of tlie financial yeai., funding the IEfurbish2nent of thr Light Bulb from designated fi]nds £271914, alongside the purch&se of Equipment JEquirtd at the new site to bc able to deliver coiitinuity of provision £38,953. Explanation of finy unceYtAintle5 about Ilie Chfirity eontlThuing 85 A golng collcern At incorporation in 2015, One TTUSI derived iore thali 90 percent of its inconie from Wandsworfh Council. This liad beert reduced to about 60 pewent prioi. to tlIE ¢nd ofour cojiccssion coiitract with Wandsworth c.ouncil. Followins tlie end of our concession Gcnlra¢t witl) Wandswoith Coullcil, we Currently unable to receive referrals directly from Waiid5worlh Council as we opted i)0¢ ¢0 join tl)eir framework. We do howev¢r sllpport Wandsworth service users who acc¢ss our provision via direct payments, alld ther¢ are several dirEd payments applications in ptpeline. Our iii¢ome ttow com¢5 froin wai'ious commissioning bodEcs &iid dired payments, The Soutl)west Londoii ICB now spends the m05É with us, but we rematn mitjdfiil not to bec01e over reliant on aiie funding source. To tliis end, we havB dtveloped additional relati0115hips with Kingston and Southwark adding to our commissioller relationships with SWL ICB, Merton, Lambeth, and Sutton. W¢ fully support the pi'inciple of self-direrted 8uppoII' over time we would like to cncourage mor¢ pcopl¢ to access our s¢ivi¢es through diTeGt paymcnts to protect their persojial jilleStS against det1mental CUTtJmiSsi(Trning dl$Lon$. We eiirered ittlo a 15-y¢ar lease for our new flagship service sEte. 50 we haye been able tD d¢risk in terms of a locatiL)n to deliver corc elemeiit5 of ouj. 5¢Tvice ofyci'ing oveT a prolonged period. There is a small repiitational risk associated with not having capaGity to accept new i'eferrdls. Creating &dditional Capacity is ouy key slralegÈc objective as we look to 5eGur¢ a loThg-lemi lease to house a dedicated b¢havioral support service.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUCI D) r4OR THE YEAR ENDED 31 MARCH 2024 Post balance sheet We liavt rcviewed our t&qm Structure following the end of our concession conlraet. As part of the TUPE transf. proc¢ss, we TeiaEned ex¢ess managejnent oapM¢ity incongruous with the sbale of oui. new business. Our approach has always heeii to iiiaxirnise frontlin¢ capacity, 5UPPDrt¢d by an etricient management team. We rEviBw¢d our incomc and expendiluv¢ and recogni5¢d Ihdl we needed to reduce staff expendsture to tDsure su$lainability. In line witli our strategic objectives, we hav¢ also created ¢ap&¢ity iii ilie key aveas of ¢lini¢al management and quality assurance and will look to appoint a brhav10i,al SUPPOIt spe¢ialist to support our aspirations for a slandalone brhavioui?I support servÈcE. Following the Jrview we have had to make some tough decisÉoiis, Ytsultittg itt a small number of Tedundances. 01. COO has been I'eplaced by a p&rl-tiine fiiiance l¢&d. I'hree of our operational managemeiit w>sts liave been deleted. We dtlcled the post8 of a I dayl week music therapist and I day a week art lutOT tEtaining proportion&te capacity in these areas. We deleted oily r¢f¢rrals office post; these duties have been incorporated into the Business Dev¢lOplenI artd Projects role. We have appointed a scNi1¢11nical manager an(1 quality assurance ]natger. The restructuring will reduce staff expenditure by £131,0001 annutn. The cost of re(EuE)dancie5 was £51,000. The restru¢tyring wtll ensure the Charity is again able to make conlribulion5 towaixls Yrves, to manage risk and support ihe deliveTy Of sti2legic objectives. The Charlly sprinLipdl sourees olfiiiids (iiicliidliig anyfEiiidroisiii As of the 31st of March 2024. One Trust's primary sources of ttjcomc were Southwest LA>iidon ICB attd Lambeih at)d Merton local auihorities. The Charity also received incoinc through dii'e¢t payJt)ents. One Trust also delivers a hydroth¢iapy prO1t that is parl grant fundeil by theNHS. A ilescrlplloii ollhepriiiclpiilrlsksfaciii¥ ihe ClillTIty Tlie principal ¥isk facing the Clurity is ch2ng¢s to commissioner fundinyl budgels. One Trust supports people with the most pIDfound and cotnplex lld$, it is uiilikely that cui'r¥nl and future services usels will fall outside NIIS and It)cal autliority Statutory duti¢s to meet thtlT as5tssed needs. Tlie i)umb¢i' of referrals Teceived 5in¢¢ the 1st of Februaiy suggests that demand from commissioners Irmains higj). One Trust also reGognis¢s tliat deinaThd foi. S15 suppoiting people with coniplex needs alld tlEose requii'ing behaviornl 5UPPOlt far outweighs supply. Mike Ltnhai'd Mart( Stennett Will Olmi David PypEr Chris Pugh Cliloe Bryanl-Dunn ChaET Chair of Finartrx Committee CBOI ex officio Chaii. of People CoMilee Tjvsteel fitJanL¢ (Resigned 4 Scptcmber 2024) Ti'usteelsaftguarding
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDCI D 31 MARCH 2024 Struttur4 govefft'nAnce And management One Tr51 is an independ¢nt ¢harity and eot))pany limited by guarantce. Tlie Trustees, who are also the dire¢lors for the purpose of company law, and who served du¥ihg tl)e year and up to Ihc (5atE of signature of the finaD¢ial statement5 were: D Pyper M LKI)ttard (CIMirl T B Bariett (Resigned 19 Deceniber 2023) W R L Olmi- Chief Execulive and Secretary M H Sieiin6tt- Chaii. Finatice aiid Audit Committe¢ C N Pugh {Kesigned 4 S¢pt¢mbcr 2024) C Bryattt-Du Tli¢ Trllstees, TeTinS of Reference and CharEty'5 Meniorandurn of Articles Can be obtained by eont&cting our regist¢r¢d office. Tiuste¢s m¢d formally al leasi four times a ye4r. with additiojl subcommittee mtttings wverin8 HR, staffing, finance 2nd additional sub Colnmitt ¢ovei' governallce. In addition, their is at least orte meeting each year dedIC&t tts strategic planning. One Trust ¢ontinually revi¢ws the skElls of Bo#i'd I¢1berS and pei'iodically conducts reeriiitment c&mpaigns to bolster governance in specific &reas. ProspectEve TrustE¢5 must subniit an applicatioll and expiESSiOll of iJitcre51 and are subject to formal selection proc¢55. ThE selection process requives prospective Ti'ustee5 to m¢et with the CEO and visit seryice sites. This IS then followed by formal interview atid meelsng with the Chair andlor other It)elberS of tlie Board. New Trustees ieceive an iiiduction pack, iiicluding an up to dale and ConipllenSive repoit detailin8 the a¢livity of the charity- Th¢ tnduclian pack includes Chai'ity Commi55ion ("The Esscntial Ti'usiee'l and Companies HOSe guidancel"B¢ing Dii'e¢lorf'), detailitig tlie IDIE and responsibilitie5 of trustees and dire010. Thi5 is shared alongside OnE Th'u51's MeTnorandum ol Artirlc5 of As*Ocat1on. In addiiion, Truslees iEceiv¢ National Council for Volunlary Organisations ineinbership and a¢cesS to traintn& with expeiises covEitd by th¢ Chaiity. VisEt5 10 Service sites and engagcmertt wirh staff are arranged to help new Tiwste¢s fainiliayise themselves with the charity. Feedback from new Trustees Ycgarding theii. inductioii experience is contEnually undei. ievieiy and used to improve relevanct aiid quality.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST "I'RUS'fEbS' RLfpoiiT IINCLUDINGDIRECTORS, KKPORT) (CONTINUED> FOR THEYEAR ENDED 31 MARCH 21124 One Trust's oryaD15atltkn stru¢ture The execuiive slNCture'. Will Olmi- ChicfExeculiv¢ OffiLer RirhxTd OhJt)rimllo-ChiÈt Operating oleer IResi8iied 12 July I Thbias Barreii- Projects 8nd Bllsinpss DeVlOpTneTrt Team slnE¢tUTe l April 23 to 31 Jlliiuary 24 l F¢bNary 24 t¢ 31 Mar¢h 24 Adininisimiors l Adminislraiors Aides Aide$ Art tutor& Art tutOES CaTer li&ison Carey liaiso Dcputy reaoj mana8¢rs D6puly teèm manxgers 4 Exe¢lliive¥ 4 EXtltiV¢S l Ma5s&g¢ tIIcT4PiSt l mas8C dierApist (usic therapisis M1151Q thcrnpi51$ 3 Support work¢rs 3 Support WOTk¢r5 TE&NL Manag¢ts Teani Managers Audltor In accordAnce Mryth the eon]panVs article5, 17 Testslution proposing Ihal LB Gruup Lkniit¢d b¢ trapNinied o& auditor of t ompttny wtll be PLII al a aenunl Meeting. Disrloitsr¢ ofinformtlon to Audltor EH¢h of the TN$iees has coiifjmied that there 1$ no infomition of which they are awprc which is r¢l¢voni to th¢ alldil, bui of whicli the auditor ss unaware. They have fuithtT ¢onfimi¢d ihat thry havc tsken OPPTOPri#te steps to identify $LKk relevaiit infomialioii #nd 10 ¢5tkbli$h Ilial th¢ auditor is Ir¢ of $u¢li infoymation. Tb¢ Ttustc¢$' r¢p)rt wag &pproved by tho BoaTd trfTrustee5. WRLOkni TrusteelDtrector 16 DeL¢mb¢r2024
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONETRUST STATEMENT OFTRUSTEES, RESPONSIBILITIES FOR THE YBAR ENDED 31 MARCH 2024 The trusl¢¢s, who ar¢ also the directors of One Trust for the pui'pose of Coinpany law, air responsible for preparing the Trustees, Report and the financial sfaten]en15 iii accordallce with applicable law and United Kingdo1 Accounting staiards (United Kingdoin Generally Accept¢d Accouiiling Practic61. Company Law requiiEs th¢ twstees to pr¢par¢ finaiici&l statements for ¢a¢li fial yeaT whi¢h give a true aiid fair view of the state of affatt's of the charity and of the incoining YesouT¢es and application of resoui'ces, in¢luding the Èncoii)c and expeiiditure. of tli¢ Ghaiitabl¢ eornpany for that ycai.. In preparing these finanGial stAtements. the trustees are required to.. seleet suitable accoiinting w)lici¢s and then apply thern ¢onsist¢ntly. - observe the methods and principles in the Charities SORP. Inake judgetnents and estimates Ihal are IEa50nable and prudent. state wliethcr applic&blt UK ActOntIlg Standavds have bern follow¢d, 5ubje¢t to any material depailui'es dÈsGIosEd ]d explained in IhE finaiicial staternenls; and prep8rc the finan¢ial staten)ents on the going con¢eiii bh5is unle5S It ts inapproprijle to piEsuMe tliat ihe charity will conlÉnue in operation. The trustees are $pOlI$1b1e foT keepinu adequate oc¢ountiThg records tliat di5clos¢ witli IEasonablt acceY at any tiikne the fitJancÉal position of the charity aTLd enable theni Iv ensure that the financial statetn¢nt* caii)ply with the Companses AGI 2006. They are also responsible foi safeguarding tlie assets ot'the charity aTtd h¢n¢c for taking reasonablc steps foi. the pVentiOn a#d dete¢tion of fraud and other iKre¥ulai'ilies.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ONE TRUST OpÉiiion We have audited the financial slatements of One Trust (the 'charity'l for the year ended 31 Ma¥¢h 2024 which compnse the sl&leit)ettt vf finynbial activilEes, the balance sheet, the slaleinenl ot. sh flows alld notes to the fiiianEial statements, including significat accounting policies. The fjiiancial repoTliDg framework that has bccn applicd in their piYpar&lion is applicable law and United Kingdom Accounting Staiidard5. including Fiiian¢ial Reporfing St&lldard 102 The frnlliiciul Rgpoi'fing Siaiidui.d pplicable in ilw UK uiid Repiiblic ofJJ*laiid(United Kingdom Genei'ally Accepted Accounting Practice). In our opinFon, the financial slatements: 8ive a true and fair vi¢w of the slate of tlie charitable company's affairs as at 31 March 2024 aiid of it5 incoming resouj'ces aiid appli¢ation of IEsour¢¢4 for the year then ¢ndEd; have bcen prop¢rly prepared in aOrdai)ce with United Kingdom Generally Accepted Accountiiig Piactice. and have been prepared in accoiylaiice with the requirements of the Compallies Act 2006. BASIS for oplnion We conducted our audit in 8¢¢ordaiice with Intemational Standards on Auditing IUKI IISAS (UKI) and applicable l&w. Our responsibilÈties under thos¢ standards are fvrther described in the Aiidiloi s ivsportJ'rbiliiigs.foi' Ihe aiidil of ihe fTiiUfr7CiL71 siaieitsgisis section of our report. We are independent of the chaiity in accordance wilh the ethical reqIrements that air I'elevant to oul. audit of the fiiianGial statements in the UK, iiicluding the FRC'S Ethical Standard, and we have fuifIlled our other ethi¢41 re5poJisibilitie5 Eli accoixlance with these requireinenls. We belirve th&1 the audit ¢videnc¢ we have obtained is S¢¢Ient and appropriate to pix>vide a basis for our opinion. Coneluslons i'olAtlng to %oin% concei. In auditing the f&nancial 5tatEllltRts, we have con¢luded that the Trustees, use of the going concem basis of accountitkg in the prepa¥ation of the financial slal¢ments is appmpriate. Based on the work we have perfoTm¢d, we have not identified material un¢eYlaintie.q relating to events or conditÉons that, individually or ¢ollectively. tt)ay east significant doubt Dll the charity's ability 10 fontinue as a going Concern foT & period of at least twelve months from whcn the finan¢ial statenients are athOriSed for issue. Oui. Tt5ponsibilities and the IEsponsibilitÉes of the TrSte£S with respect to goillg conGcrn are desciibed in the iylevant sectiotts of this Tewrl. Otber infoi'rnatlon The otlier infoi'mation comprises tlie ijiformation included in the annual report other that] the finanGial stateltillS aiid our auditor's Teporl thereon. Th¢ Trustees are responsible for the oiher information contained within the annual report. Our opinion oti the fjnancial statements does not cover the oiher inloiTh&tion and we do 0( expres5 aiiy form of assurance con¢lusion thereon. Our respoiisibility is to read tlie other infDrtnation and, in doing so, collsider whdher the other inforjllation is materially incon515tent with the financial statemeiit8 oi. our knowledge obtained the course of the aiidit, or olheiwis¢ appears lo be materially misslal¢d. If we identify such material inconsistencies oi. appaj'ent material Ini5slalements, we are rtquii'ed to determine whether this gives ris¢ to a material niisstaf¢tn¢nt in the financial 8tatemciils themselves. If, based on ihe work we have perfortlled, WE conclude that th¢r¢ is a material missta¢emeii¢ of this other inforination, we aiE requiY¢d to iqK)It tliat fact. We have nothing to rew>it iii this iegai'd. Matters on whlth we al'e i'equTI'ed to report by exteptio We have noihiiig to report in r¢sp¢¢t of the following malt¢r5 relation to which the Charitie5 (Accounts and ReFK)rlsl R¢Bulations 2008 J'equiie ys to report to you if, iji our opirtÉon'. the infornidtion given in the finatbcial statements is li)1ls1ellt in any material r¢spt with the Trusl¢es' r¢port,' or sufficient accountiiig records have not been k¢pt,' or the financial statcintnls are not in 3greemcnt with thc accoua]ting rttords,. or we have not ieceived all the ILfortnaton and explanations we requiir for our audit. 10-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES ofi ONE TRUST Re5pon$lbllllle8 of Trllstees As explained nior¢ fully in the stalemetlt of Ti'uslees, iesponsibililies, the TTU5tees. who are also tlie directors of the charity for th¢ purpose of company law, are responsible foT the preparation of the financial statements alld foi. being satisfied that tl)ey give a trur and fair view. aiid foi. such irttemal conti'ol as the Th'usler5 deterimine is ii¢c¥ssary to eiiable the preparation of financial statements that are fre¢ froin material mÉsstatement, whether due lo fraud or eri'or. Tn prepai'iiig the financÉal statements, the Trustees ar¢ iEsponsible foi. a5SE5sing the charity's abilily to continue as a going Gon¢cYn, disclosing, a5 appliGable, matters related to going concem and using the going concein basis of aGcountiiig uttless Ihe Trustees either intend lo liquidate th6 cl)aritable ¢ompany or10 cease operations, or havB no realistic ali¢rnalive but lo do so. Auditoi s ie$ponslbilities for tlie audit of the fiJJaneial 5t%tements We hav¢ been appointed as auditor undu section 144 of the Chaiiiies Act 2011 and r¢port in accordance with the Act alld Jrlevant regulations made or having eff¢Gt thereunder. Our objective5 are to obtain itasonable SUrt¢¢ about wh¢ther the financial stateEMet]t5 a5 a whole are free from material misslat¢inent, whether due to fraud or error, to issue En audEto¢s report that includes our opinion. Reasonable assurallee is a higli l¢vel of assurance but is not a guarantee th&1 an aiidil conducted in accordance with ISAS (UK} will always d¢tect rnaterial misstatement wheii it exists. Misstateineiits ¢an arise frotn fraud or errol. and are consideTed material if. individually or in th¢ aggregate. they ¢ould reasonably be expected to influence the ewnoniic decisions of users taketj on t1 basis of thes¢ finall¢sal statements. The extent to which our Ewocedures are capable of detectirtg irvegularities, including frad, i5 detailed below. We gained an undcrgtanding of the legal and rcgulalory framcwork applscable to the coinpally and the it]dustry in whicli it operates, and con5id¢r¥d the risk of acts by the company that were contrary to applicabl¢ laws and i'egulations, ineludiilg fraud. We de5igntd audit proceduies to respond to the risk, re¢ognisillg tliat th¢ risk of noi dtteclin8 a material inisstatement due to fraud is higher than th¢ I'isk of not d¢leelitig one iesuliii18 from error, as fraud may involve delibuate wncealment by, for exampl¢, foi'gery or intentthonal Jiiisrepresentatiolls. or through collusioii. We focusstd on laws and I'¢gulations which Could give rise to material misslatement in the financial st&t¢menls, including. but not limited to, the Compaiiies Act 2006 &nd UK lax legislation. Our tcsts inclvded agi'¢EinB the finaiiciAI statement di5closur¢s to ulldci'lying supportitig documentation and eDqttiYies iyith managemeilt. There air inheienl limitation5 the audit procEduTes des¢i'ibed alKJve, and the further removed non-¢omplianGe with laws and regulations is from the events and ti?nsactions reflected in the flnancial 5taten)ents, tlie les5 likely we would becojne aware of it. We did not ideiitify any key audit matters rclation to irrcguS&1'ilies, including fraud. As in all of our audits. we also addressed the L'j5k of mallagemEllt override of iniei.nal controls, including l¢slingjoumals and evaluating whether th¢re was evideii¢e of bias by ilie direCtoi that I"epresented a I'isk of matelial mlsstalemenl due t(> fr&ud. A further description ofour responsibilities is available on the Fi*aTh¢ial Repoiling Coun¢il's websit¢ at.. https.-Ilwww.frc.or&ukl audilorsreswbnsibilities. This description fotJns part of our &udito¢s Y¢port. 11
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF ONE TRUST Thi5 lYPOrt is made solely to the company's tnember5, a5 a body. in aOrdanCe with sectiott 391 of the Con)panies Act 2014. Our audit work has beeli undertaken so that we might state 10 the company's membcrs those matters we are TequiY¢d to stak to tliem in ali audiloi's report and foT no oihej. pui'pose. To the fullest extent pertnitted by law, we do not accept or assume T¢SPDnsibilily to anyone otSier ihan the company alld the CoMpaY'S In¢inb¢rs as a body. for our alldit work, for thi5 report, or for the opinions we have foiined. Do¢uSMd by.. 78F78OC3FFA74SC Gi'lJam Sijeck (Sertioj. Stitiilory Au(Jitor) foi. And oll bthalf of LB Croup Limited 19 tkeembeT 2024 Chxrttreil AecountAnt5 Sfltutoi'y Audltoi. 19tli Floor I Westfjeld Avenue Str2tford E20 IHZ LB Group Liiitiled is eligible for appointment a5 auditoi. of the charity by virtue of its eligibility foi apbintIn¢lI¢ as auditor of a coinpat)y under section 1212 of th¢ Companies Act 2006. 12-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONETRUST STATCIMENTOFf4INANCIALACTIVITIES INCLUDINC INCOME AND EXPEINDITURE ACCOUNT FOR THEYEAR EliDED31 MARCH 2024 Unrestricted Unresti'icted funds fuJLds 2024 2023 Notes Donations and lega¢ies Income from charitable activilÈes Inv¢simtnt income 2,067 3,793,044 302 1,344 3.7Q4,729 184 Totll Éiieome 3,795,413 3,706.257 Charilable activiti¢5 3,836,477 3.796.821 Other expense5 586 592 TotRI expeiiditure 3,837,063 3,797,41J Net expenditure foy the yeHI'l Net rnoveJneiit An funds 141,650) (91,156) Fund balances at l Apyil 2023 838,071 929,227 Fund balinees At 31 Mareh 2024 796,421 838,071 The statement of fitiancial activities includes all gains and losses recogt)ised in the year. The statement of finaii¢ial a¢tivities inCldeS Ill gai11s and losses reco8Thised ID ihe ye&i'. All Éncoine aiml expenditure dcrive continuing activities. Thc statement of fjnaiicial activities also complies with the requiEtmenls foy an iiicome and expenditurc account linder the Companies Act 2006. 13-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRusr BALANCE SHEET ASAT 31 MARCH 2014 2024 2023 Notes FLxtd a8Stt$ Tangille asg¢l% 13 348,909 31,177 Cknffrtht $$¢ts Debtois Cash at ba#k and in hamd J4 432.589 193,IK)3 1,055.798 183,722 625,592 1,239,520 CTedltDrs: AM01)t5 flSing due wlthln one year 15 1127,0801 1331,743 Net curAEnl ags¢ls 498,512 907,777 Total gs5ets less ¢urrentllabllltiÈs 847,421 938,954 ProYtslon$ for HibllltÉts5 16 (51,000) {100,8831 Net fj8S¢t$ 796,421 838.071 Income fund$ Unrcslri Desi8nat¢d fvnds Genernl $trIcted fvrtds 19 260.000 578,071 796,421 796A21 838.071 796,421 838.071 The rojllpaiiy is ¢n¢illed lo th¢ ¢x¢mptiDn from the audit requiiement c¢)ntsin¢d in se¢lion 477 vf the Companies A¢1 2006, for the yethrettded 3) Mah 2024. alibough &wlii ha$ ¢311ied out ullclersectton 144 of the ChariliesAcl 2011. The directors acknowlcdg¢ Ih¢iT responsibilities for con)plying wilh th¢ wuir¢meot$ of lh¢ Componies Act 2(X)6 with r¢spcci to iccowilittgrecords alid tlie prcparalioll of finallGial sial¢m¢nls. The meMbS hav¢ iioi rll1r¢d tli¢ Gtsmpiny tu obtaii) art aiidit of il$ financi21 stalernents under the rcquircjncftts of IILS Coinp8nies Act 2006, for Ihc year in qu¢51ion in accDTdJn£¢willi sectiojj 476. The financial 5tattw¢I hav¢ bE¢K prepared in a¢¢ordanco with the provisions applit4bEe 10 eoillpAnies subject lo the smfill Companies re8jme. The fiiiancial sta¢¢Mts WeT¢ approvd by (h¢Th)siees on 16 Dtcember 2024 WKLOlmi Trustee Complly reElJtrtlob nujnber 09497463 14.
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 OP4E TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 MARCH 2024 2024 2023 Note5 CAsh floivs fro operating Hctivities Cash generated fronillabsorkd by) operatioi 21 374 J27 {256,674) Inve5tillg Aetlvitie5 Purchase of taii8ible fixed asgets Investnieot incott)¢ re¢eived (365,348) 302 {30,8931 184 Net C115h used In IDvestingactivlties {365,0461 {30.709) Net exsli used iii finAll¢tng Attlvitits Net IDcrea5el{deere%sel In cash ¥tnd ca5b e4NivAleiits 9,281 1287,3831 Casl) and tash equivaleDls at beginThing of yvar 183,722 471,105 Cxsh And cash equivglen¢s at of yeHr 193,003 183,722 15-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aecountlng pollties Charfty imformatlo One Th'u5t is d pi'ivaltt company limited by guarantee incorpor8t¢d in England and Wales. The rcgi5tei¢d ofrfi¢e is 21 Church LaiK, Tooting, London, SWI 7 9PW. Accountlng conveDtion The fjnancial statements have been prcpared in a¢¢ordance wilh th¢ charity's governing document, the CornpaniES Act 2006 and"Aecounting and R¢poiling by Charities.. Statement of Recommended Practice applitable to charities preparing their a¢¢ounts in accoix1an¢e with the Financial Reportln8 StandaiQ applicable in the UK and Republic of Ircland IFRS 102)" (as anJend¢d for accouiilin8 periods Gomm¢n¢ing from l Januaiy 20161. The charity is a Public Benefjt Enliry as defined by FRS 102. The finall¢ial sialement5 are prcpar¢d in sterlin& which is the funGtional ¢urren¢y of the charity. Monetary anioiin15 in these financEal staleiDents air rounded lo the Jie8rc5t Poutsd Sterling (£1. The financial statements have been prepared under the higtorical cost convenlion. The principal a¢coLEllting PDliGies adopted are set out below. .2 Going con¢er At the time of approving the financial stateTnenls, the Trustees have a reasonable expedation that the cliarity has adequate r¢souires to continu¢ in operational exist¢n¢e for the foreseeable futuY¢. Tliys the Trustees continue to adopt the go5g cvn¢ern basi5 of acetsuiiting in preparing the f&naneial statements. 1.3 Chai'itttble funds Unreslri¢ted fund5 are available for usc at the discretion of the Tru5te¢s in furth¢rance of their charitable objectiv¢£. 1.4 Income ID¢otne is recognised when the ch&iity is leg&lly entitled to it after ally p¢rfomian¢e Conditions have been met, Ihe amounts can be measured liablY, and it is probable that income will be received. Cash donations air recognised on re¢eipt. Other donatEOn5 are recognisd oi)¢e the ¢harity ha5 been notified of th¢ donation, unless p¢iformance condition5 req¥iiE deferral of th¢ ainount. Income l&x r¢cov¢rable in relation to donations received und¢T GiftAid or deeds of covenant is reco)]5¢d at the time of the dollation. Legacies are i'ecognised on receipt oi. oth6rwis¢ if the charity has beeti notified of an iinpending disti'ibutÈon, thB amount is known, and ifCBlPt is expe¢ted. If the ainount is not known. the legY is treated as a ronttngenl asset. 1.5 Expenditure Liabilitiei are recognised a5 cxpenditui'e as soon as tlier¢ is a legal or constructiv¢ obligation conimitting the charity to tha( expcndiiure, it is probable that selllement will be I'equired and the amount Df th¢ obligation can be measured reliably. All expendÈture is accounted for on an accwals basis, All expenses including support cosls and governance ¢osts are allocated or Appoilioned to the applicable expeJiditur¢ headit)gs, Support costs have all been allocated belwern governanff cost5 and other suppoit costs. Governan¢e costs coinprise all Costs invvlvitjg the public aWountabllty ofthe Gharity and ils compliance with regiilation and good pi'actice. These eosts iiiclude costs IElated to statutory audit and legal fees (ogether with atb apporlioiiiellt of ovei'h¢ad dnd suppoj't costs. 16
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE Y&AR ENDED31 MARCH 2024 Accountlng yDlicie5 (Continued) 1.6 Thngible fixed assels Thngible fixed 8ssets are inEtially measured at cost and subsequEtilly tne&sured at cost or valuation, net of depre¢ialion and atty impairmettt losses. Depreciation is IfCO¥iiiSEd so &5 to write off the cost or valualÈon of assets less tlieir residual valttes over thcir useful lives on the following b&ses'. Leasehold land and buildings Fixtures And fittings Compute1% Motor vehicles Sensory garden 6.60/ts StIEiuht lille 250/0 slraight line 33.30/0 Strnight lin¢ 25Yo I'educing balance 33.33Yts Straiglit lin¢ The gain or 105s arising on the di5P05al of an asset is determilled as the differeiice betweeii the sale proceeds and tli¢ ¢arryÈn8 value of the asset, and 15 re¢ognised the statement of finaiicial activities. 1.7 1mpAlrment of flxed Assets Pei'iodically. the charity Teview the cariying amounts of its tangible assets to determiiie wheiher there is any indi¢atlOll that thosE a%%ets liavc suffered an imPare1lt loss. If any such in(fiGation exists. th¢ recoverable ainount of (lie a$sct is ¢Stitnated in ordei to deterimine the ¢x¢en¢ of the impaimient Ios5 lif any). Recoverabl¢ amount is thc highei. of fatr value less costs to sell value in use. In a5s¢ssing value iii use, th¢ ¢slimated future cash flows are discounted to their presejt value iising a pltaK discoLTnl ratE that reflects Current maykel a5sessm¢nts of the time value of money and the risks specific to the asset for wliich the estimates of futUEE Gash flow$ have not been adjusted. If the recoverable amount of an &sset is estimated to be less than 115 tarryiiig amount, the carrying ainount of the asset is Irduccd to its recovei?ble arnount. An imp&irment loss is recognised immediately im incoiM4lexpclldilure for the year. unless the relcvant asset is carried at a reVaIed amount, in wliich casc the impairrncnt loss is ti*ated &5 R revaluation deaEase. Recognised iiiip&iimenl losses are reversed If, and oiily if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently ieverses, tlie caTiying amount of the asset is incirased to tlie revised estimate of its iEcover8blc atnount, but so that ihe increased caTrying amount does IiDÉ ¢x¢eed the caTrying amount that would have been determined had no iinpaii'ment loss beeji recognised for th¢ asset ill prior yeais. A reversal of an impairment 1055 IS retognised immediately, unless the T¢l¢vant asset bs carried in al a Icvalued amount, ill which case the reveiEal of the impairment Ioss IS treated as a revaluation increase. 1.8 Cash And Chsh eqlllvgletits C8sh and cash equivaletils include cash iii hand, depD511s held at call with banks, other 5hort-terin liquid inve5tttteiits wilh origijial Tnaturities of thiee moDtIis or less, and bank overdi?fts. Baiik overdrafts are showii wiihin kni'rowangs itt ¢urJEnt 1.9 FinAnciAI illStI-umeiits Th¢ chaTity has elected to apply the provisions of Section I I 'Basic Financial In5tMm¢nts' and Section 12 '011ier Fiiiancial Instrumettls Is5ue5' of FRS 102 to all of its fLnancial instrumetkls. Financial it)strutrtents are reeognised in the charity's bfylance sheet when the charity becomes party to the contractual provisions of th¢ instrument. Financial assets and liabilities ale offset, wilh thE nel arnounts presented the fInaclaI slaleillettts. when there is a legally enfoK¢abl¢ light lo set off the reco8nÉsed ainounts and thEIE is an int¢Thtion to settle on a nel basis or io I'¢&lise the asset and settle the liability sin)iillaneously. 17-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THI FINATr4CIAL STATII MENTS (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2024 Accoutttlllg poll¢ie (CoKtlnvedl BrtsicTinMncliilrtsyels Basic financial J%s¢ls, which include debtors and cash and bank balances, ar¢ initially measured at tTanSabtion price lncludiiig transaction ¢ostS alld air subscquently carri¢d at amortised cost Using tlie effective interest method uThl¢ss the arragerntnt constitutes a financing IransdGtiuii, wlhere the tYan5action is Jneasured at tlie piEsent value of the future receipts di5coiiiil¢d at a maL'ket J'ate of iiitrvesl. Fittan¢ial assets classified a5 receivable within one year are t)ot amorlised. Buslefiiiaiiclfil Ilubllilles Bosi¢ financial liabiliti¢5, including creditors and bank loans are ittitially recognised at transaction pi'ice Ullless tlie arrangement cotjstitulrs a financing traiisactioii, where the debt instrument is ineasured at th¢ piEsent v8lue of th¢ fiJtur¢ payments di5COUllted at a m8rk¢t rate of illterest. FiD&n¢ial liabilities classified as payable within one yeai. are not amortis¢d. Debt instn]ments al'e subsequently carri¢d at amortssed cost, using the effective Inte5t rhte method. Trade ¢reditoYs are obligations to pay for ¥oods or service5 Ihat have been acquired iii the ordinary Couise of operatiolls from suppliei's. Amounts payable aye classified R5 current liabilities if payment is due within one year or les%. If not. they are pregenled as non-current liabilities. Tradc ciThlitors are re¢ognised initially at transaction price atEd subsequcntly measured at amortised cost usÉng the ¢ff¢¢tive interest method. Derecoxiililoh oljliiftrttlrtlllfibililies Financi&l liabilitÈes are dcrecogni5ed when the charity's contractual obligations expire or are di5chaYged or¢an¢elled. 1,10 Provisions Provisions are iecognised when the charity has a legal oi. coiistructive PT¢Senl oblig2tion as a result of a past ev¢i)t, tt is probable that the charity will be required tD settle that oblEgalion and a reli&ble estimate can be inad¢ of th¢ amount of th¢ obligatioTr. The rccognised as a pi'ovisiot) is the best estimate of tht coi)sideration required to Settle the present obligation al the reporting end dat¢. taking into account the iisks and uncertaint1¢5 5un'ounding the ohligatioii. Wliere the effect of the tijne vale of n]tsn¢y is material, the amount eApeGted ta bc i'cquired to settle the obligation is recognised at pre5ct value, When a provision is mt&8urcd at prcsellt value. the unwinding of the di8count is recogni5ed as a finance cost in net incomellexpenditurel in ihe period ill wliicli st arises. 1.11 Employee ben¢fit5 The cost of any ThSed holiday entitlenient j5 rccognised in the peyiod in which the etRployee's services are icived. Termination bet]tfits arE recognised iminediatcly as an expense when the charity i5 d6monsti?bly committed to lertttinate the employm¢nt of an employee oi. to provide terinination benefits. 18-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONETRugr NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THY YEAR ENDED31 MARCH 2024 Aetounting pollcle5 (Cortfinueil) 1,12 Retiremeiit benefits Tl* charity pJ'ovide5 ret&rement bciicfits to eitiployees a d¢fined conti'ibutioii pension plan. Most einployees aTe mejiibeis of Ihc dcfincd conti'ibulion pension plBll. A defined wntribution plan is a p¢nsioii plan iiiider which the charity pay5 fixed contributioiis iiilo a s¢parale entity. Once the conlribuliorts have been paid the chrity has no ftirthei. paymeiil obligatlOll5. Conti'ibutions arc chaiEEable io ihe SOFA in the period lo which they relate. The assets of the plon are held separately from the charEty in independeiitly admtni5¢ered fund5 by Now P¢iision$. Up to 3 1st Januaiy 2024, The charity also participat¢d in the Wandswoi'lh BoTough Council (WBC) Local Government Pensioii Sch¢iiie (LGPSI, which is a defined btnefii atraiigÈineiil which wa5 closed lo new membeis iii 2015, wli¢n the chai'ity transferred fiDm WBC. Iwetity-ninc current employees are active In¢nEbeTS, and a number of former einployees are alqo Covcred by the provisions of that sclieine. D¢tails of the benefits p&yable ut]dei' thes¢ piDvisions can be found in tlie WBC report and finarlcial statemejils on their websit¥. The scheme is a llded, dcfined benefit s¢heme ihal covers local goveinment ¢mploy¢e5. and other bodies, allowed undey the diiECtion of the SeGretary nf 8ta¢¢, iii England and Walrs. The defined benefit sclieme assets are inve51ed in pooled funds managed by wd$Wol£ll Bovough Council. Under the terjns of the Cots¢ession Contract between Wandsworth Borough Council and One Trust Ihal caine to an end on the 31 March 2024, employees r¢maining in the LGPS are effectively tIEated as though they &iE employees of WBC. One Trust is liable for.. lil employev tontribulions at the Standard WBC l-ate, atjd (ii) any liabilities crystallising as a iE5uIt of any decisioii taken by One Trust. The chai'ity does not benefit from any surpluses on the scheme iior share any 1055es. Accordingly, under FRS 102 the s¢h¢nie is accouEi¢ed for as if il weie a defined contribution s¢heiii¢.' th¢ cost of participating in the scheme is taken as equal to tlie contributions payable to the scheme fDr the arcounling p¢riod. CrititAI accounting eslimAtes judg¢men¢$ In the application of the chaiity's accounting policies, the Trustees air Irquired to make judgements, esliinates and Assuinplions about the canying amount of a5Sels and liabilities that are iiot Teadily apparent fiDJn othei. source5. The estiinates and associated assuniptioiis are based on historical exp¢rience and other factors that are considered to be rel¢vant. Actual results niay diffei. from Ihcsc e5tÈmates. The estimates and underlying assumpt10115 are reviewed on at> ongoiiig basis. Revisions to a¢counting estitll8te5 are recogniised in the pBiiod in which the tstimate i5 Tevised where the revision affects only that peyiod, or in the period ol tl?¢ revision and futuir periods where the revisioii affeG¢5 both current and future PEriod8. 1come froKll doiiatlons sknd legacies Unrestricted Uiiresti'icted riinds 2024 2023 Donations and gifts 2.067 1,344 19-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 014E TRUST NOTES TO THE FJNANCIAL STATEMENTS (CON'fiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charltwble activltie5 2024 2023 Services provided und¢r¢ontract wi¢h Richnioiid & Wandsworth BoiDv8h CoullcII Strviccs provided under contract with other Local Authoriti¢s. ICB, NFIS. Direct 2,410.910 1,293,819 1,670,851 1,125.960 Total Services provided uiider ¢ontIt 3,793,044 3.704.729 Iticome fi'om iNvestmeiits Unre5trleted Unrestricted funds fund$ 2024 2023 It)teYesi receivable 302 184 Chai'ltRble 8ctivltles 2024 2023 Staff costs Depr¢¢iation and iinpoinnent R¢nt and l'ates Ti?vellin¥ and mutor ruiit)iiig expenses Printing. postage afjd slalioneiy T¢lephO1 and coniputei. costs Premis¢s expensE5 and Eqllipment Costs Other costs Client activities Minibus costs li'i'e¢ove¥abl¢ VAT Payyoll and HR exp¢nses 2,536.045 47,616 179,752 48.499 7,674 71,198 61,181 77,054 70,396 2,635.557 32.133 177,412 55,965 7,971 54,706 90,772 96,9 71,650 2,346 98,074 6,623 127,035 {9791 3.240,602 3,329,218 Share of suppoit costs (see iiotr 7) Shar¢ of governance Costs (see note 71 401,733 194,142 392,302 75,301 3,836,477 3,796,821
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 OIYE TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 GovernADce 811d Support costs Support costs Goverrjanee CQ5t5 2024 Support costs Governance costs 2023 Staff costs Rent and rMt¢s Printing, p051ag¢ and stalionery Telephone and computer costs Premisc5 cxpcnse5 and equipnient Costs Othei. c0515 PayToII atKI HR expenses 273,731 80,121 273.731 80,121 254,320 71,921 254,320 73,921 911 1,265 1,265 11.301 8,684 8.684 25,689 9,001 979 25,689 9.001 979 37,821 15.240 1,051 37.821 15,240 1,051 Audit fees AccountanGy Legal and pmfessional 8,000 2,000 184,142 8,000 2.000 184,142 8.01)0 2,000 65,301 8,000 2,000 65,301 401,733 194,142 595,875 392,302 75,301 467.603 Analysed between Charitable a¢tivities 401,733 194,142 595,875 392,302 75.301 467.603 Suppovl Costs hav¢ been apportioned oll varying bascs d6pend¢nt on the cost category. Staff wsts liave been allocated based on a split between liin¢ spent on charitable activities and suppvrt funtylivns, relit atid rates ai)d prernise5 expenses and equipnient bosls have been hllocated based on t]1¢ nurnbcr of rooms in each buildiiig u8ed tor svpport fuJicÉioJs and printing, postage alld stationery, telephone and computer Gosts. Dther costs and HR &nd payiDII ¢%penses have been allocaled based on staff headGount. Governgnee costs include5 payments to the auditors of £8,000 for audit fees. Net movenjent itt fllnd$ 2024 2023 The net moveme1 in fund5 IS stated aftBr ¢haYginglcreditingl'. Fees payable for th¥ dU(tit vf thB charity's fJnancÉal statement$ Depr¢¢iation of owjied tangible fixed a5scIs 8,000 47,616 8,000 32.133 ustees rwo trustet5 (or any persons connected with thein) received remuneration or benefits from the ¢harity during tl)e period. Will Olmi ICEOI- gi$5 salary £72,474, and pensioi) conli'ibutions £14.804. Tobia5 Barrett- woss salary £47,700, and pension contributions £2,385. 21
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 io Eniployees The average montlily nU1ber of einploy¢es during the year was.. 2024 Number 2023 Numbei. 78 73 EmployEneiit costs 2024 2023 Wage5 al Salaries SoGsal 5eburity cost5 Other pension cost5 2,400,616 199,017 210,143 2,435,199 218,698 235,980 2,809,776 2.889,877 Tlie n[ber Df tip10Y¢¢S whose annual remuneration was Imor¢ than £60.0 is as follow5.. 2024 Iyumbei. 2023 Number RemllnerAtion of key m8n8gement ptr50nDel Th¢ remunerdlion of key management personn¢l was as follows.. 2024 2023 Aggregale COTnpensation 180,223 179,135 Otlier expen5e8 2024 2023 FinanciDB costs Other expetiditllre 542 44 5g2 586 592 12 Thx*Jon The Gllarity is exThpt from tax on inconie and gains falling wiihin sectioit 505 of the T2xes Act 1988 or section 252 of the Taxation of ChaiEeable Goiiis Act 1992 to the exteiit thatthese or¢ applied tD 115 charitable objects. 22-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 OPIE TRUST OTEI S TO THE FINANCIAL STATEI f+qENTS (CONTINUED) riOR THE YEAR ENDED 31 MARCH 2024 13 T#nglble fixed sSets Le*s¢hol 18iid rixturcy rittiw Cthmputtr5 h10tl. vehlc]o5 se30rY #Arde Cost At l April 2023 Additions Disposals 54.767 38.954 154,766) 57,780 20,338 133,9581 38,945 91,378 242,870 33,142 365,348 (91,3781 1200,1021 272,914 (20,0001 At 31 March 2024 272,914 38,955 44.160 18,945 33,142 408,116 DepreciHtioTh and impsLlrEE]ent At l April 2023 Depreciation ¢liarged in the year Eliminated in respe¢tof disposals 49,733 45,845 24,737 91378 211,693 3,032 14,765 14,719 4.053 11,047 47,616 (54,7661 (33.9581 120.000) 191 J781 (200.102) Al 31 March 2024 3,032 9,732 26,606 8,790 11,047 59,207 Carrylng Af 31 March 2024 269,882 29.223 17,554 10,155 22.095 348.909 At 31 March 2023 5,034 11,935 14,208 31,177 14 Debtors 2024 2023 Amounts falliiig due JYithiH ont yeai.: Trade debtoys Othei. debloi's Prepayments and aCc[ed incom¢ 337,332 63,723 31,534 959,338 61,392 35,068 432,589 1.055,798 15 Cieditors: Hmourtts f#llSngdue within one year 2024 2023 Not¢s other taxation and social security Deferred income Tr&de ¢reditots Othcr crcdilor5 Accruals and deferJEd Èncoine 21,771 16,500 27,911 22,047 38,85 1 55,868 66.000 47,141 129,458 33,276 17 127,080 331,743 -23-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONEI TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTJNUED) FOR THE YEAR ENDED 31 MARCH 2024 16 ProvA%torJs for IIAbilities 2024 20Z3 51.000 100,883 Movements on pi'ovisions: At l April 2023 Over Provision5 100,883 (49.883) At 31 March 2024 51,000 The brought foTward provision of £100,883 has been wrirten bark to th¢ sofa. Contracts wtth ICB'S are invoiced on the basis of sejvires provided by One Trust. Irg31'dless of attendaiice by svice users, Following two weeks of non-*tttndaiice, One Trust 15 required to notify ICB'S and confirm ongoing 5eTVlce requii'emeiils. Conliacts are ollly ternlinated on reccipt of wi'illen notification from the ICB. The provision lias been writteti back lo the inconic and cxpendiiure account as the liability is now fully settled. Duiing the year, TTUSte¢s mad¢ a decision to restructur¢ the Charity and the sum of £51,000 15 Set aside foj, this. 17 Deferi'td IneoEne 2024 2023 Arising from services provided und¢r contract 16,500 66,000 Deferred illcome is included in th¢ finaticial statemet)ts as follows: 2024 2023 Deferred income is in¢luded within: Current li&bilili¢s 16.500 66,000 Movements in the y¢ar'. Defei'red income &t l April 2023 Rel¢as¢d fro1 pirvious periods R¢50urces deferred in the y¢ar 66.000 (66.0001 16,500 66.000 Deferred income at 31 Marcli 2024 16.500 66,000 Income is defeiiEd for futute events wherE It is refundable or has been received in advaiice. The amount of £16,500 rel#t¢s to advance payments foi. the piDvision of services at the Siitton Inclusion centre foT the u5¢ of Hyd)i>theixpy pool for servi¢e u$en8 fundtd by the Integrated Care Board IICBI. -24-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THE FINANCIAL STATEMENTS (COIYTINUED) FOR THE YEAR ENDED 31 MARCH 2024 J8 Retlrement benefit schemes During ihe fjrst ten moiiths of Ihe year, One Trust op¢i2ted two PeTr5ioiI S¢hemes for its employees. All employees can opt in or out of eithcr s¢heme in accordance with the rnles On Isl February 2024,One Trust ceased io be a metTrber of the WaEidsworth Borougli Council LGPS 5Gheme du¢ to the ejid of th¢ ¢essatEon contract and now only operates Dne pension scheme with Now pensions. Derlled contribution scheme A Group Personal Pension Plan run by Now P¢n51Dns calltd the One Tvust Pension S¢h¢me. This is a defined colltributioji scheme that is open to Gurrent staff and satisfies the &ulo ellrolinent legislation. One Tist contributes 5V/o and tl)e employee a150 Gontrihutes 5 % of gross pay. ERch membey of the s¢heme can inGIEaS¢ conlribut50115 aGcnrdiiig to the level (If statutory requiremeijts at th¢ point at which th¢y joitied the scheme. The chai'ity cDntribiitcd £47,28812023.. £47.288) by way of eTnployer wntributions durtng the year. Defined FKn¢fit schem¢ Tlie charity also participated in the WBC Local Government Pensioil sc1Me ILGPS). which is a defId benefit ari'atTrgtJnent that was closed tti new ii)einbei'5 in 2015, wliet] the chai'ity transferred froiii WBC. In lii)e with the eoncession contra¢t that can)¢ to an ¢iid on the 31 January 2024, out of the Twenty-nine current employees that were active a5 at the tr&i?sftr date. eighteell1181 were traiisferrtd via TUPE and the remaining eleveii (111 joii)ed the Now pensions 5clIEtne. From l April 2023 to 31 January 2024, the Charity paid contributions at a rate of 23.4% of pensionable pay, but WBC reimbursed a part of thi8 emplDyef Lontribution to bring One'ITUSt'.s effective late of contributioii down to 19 tt which is the rate paid by WBC iii respect of their own employees. Net employer contributions duriiig the year ainounted to £152,231 (2023.. £149.160). One Trust eiMploy¢es ¢ontributed to the seheme on a tiered scale frottE 6%- 14.50A of Ilieir pen51Dnable pay, depending on tot81 ¢arnings 19 Uijrestricttd fund5 The income funds of the charity include th6 following desiw]at¢d funds whÉch have been set asidc oyi of uni'estricted ds by the tru51ees for specific purpose5'. At l Apj'll 2023 Rosoui'ce5 expeiided '8nsfers At 31 Mai'ch 2024 i*sources One Trust expansion plan Gencral funds 260,000 578,071 1260,0001 260,000 3,795,413 (3,837,063} 796,421 838.071 3,795,413 {3.837,063) 796,421 Prevlou5 year: At l Api'il 2022 1coMIng resoui'ces Resouiees expcnded Transfers At JI MRrch 21123 One Trust expansion plan General funds 260,IK)O 669,227 260,000 578,071 3,706.257 (3,797.4131 929,227 3,706257 (3,797,413) 838,071 These designated funds were used to deliv¢r additioiial biiilding capacity and associated refurbishment, at thc Light Bulb, ro ensure additional spac£¥ used by One Tnist is fjt for purpose, 25-
Docusign EnvelopÈ ID". 1BF78586-CS984CDO-B193-OF001 E3015C4 ONE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEI D) FOR THE YEAR Ef4DED 31 MARCH 2024 20 Operfiting le4se tommltmeDts Al the IEPOrting end date ilie ¢liaYity had oulslandin¥ commiltncnts for future minimum lease p&yments under non- can¢ellable operalirtg leases, which fall due #s follows.. 2024 2023 Within oiie year Between two and fiv¢ years 74,968 234,080 73,050 4,038 309,IM8 77,088 21 Clsh generated from opei%tlons 2024 2023 Deficit for the year 141.650) 191,1561 Adjusttnenls for.. Ittveslnient income recogniscd in statement of financill activi¢i¢s Depreciaiion and itnpaiTmeni of tangible fixed assets 13021 47,616 (184) 32.133 Mov¢ments in woTking capital.. D¢ciEa5d(in¢reasel in debto] (DecreAsel in creditois Increase in provisions (Decreasellincrease in defej'red income 623,209 1155,163) 149,883) 149,500) (155,8051 (21.2401 {86.422) 66,000 CAsh gen¢t*ted froml(ab50rbpd by) OpertIOns 374,327 {256,674) 26-