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2024-03-31-accounts

THE LISTENING PLACE (A Charitable Incorporated Organisation)

REPORT AND AUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

Charity number : 1164739

General Information

General Information General Information
Date of Incorporation: 7thDecember 2015
Charity Number: 1164739
Patrons Richard Lockwood
Sandhini Poddhar
Michael Mansfield QC
Tim West
Sir William Sargent
Trustees Valerie Michie (Chair)
Caroline Lien (Vice-Chair)
Phalisha Kerai
Sonia Inniss
Frank Cunnane (Appointed June 2023)
Craig Morley (Treasurer)
Alex Winter
Tanaka Chiimba (Appointed June 2023)
Helen McKenna (Appointed June 2023)
Stuart Blieschke (Resigned March 2024)
Dr Susan Cottam (Appointed December 2023)
Terrence Collis (Resigned December 2023)
Dr Sarah Davidson MBE (Resigned December 2023)
Address: 3 Meade Mews
Pimlico
Westminster
SW1P 4EG
Bankers: Natwest
Victoria (A)
PO BOX 1357
169 Victoria St
London
SW1E 5NA
Auditors: Moore Kingston Smith LLP
9 Appold Street
London
EC2A 2AP.

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Contents Page

Chair and Chief Executive Statement………………………………………………………………………………………………….3 Report of the Trustees…………………………………………………………………………………………………………………………………….5 Objectives and Activities………………………………………………………………………………………………………………………………5 Denis’ Story……………………………………………………………………………………………………………………………………………………………11 Future Plans………………………………………………………………………………………………………………………………………………………….12 Public benefit………………………………………………………………………………………………………………………………………………………13 Financial Review……………………………………………………………………………………………………………………………………………….13 Statement of Trustees Responsibilities………………………………………………………………………………………………15 Independent Auditors Report…………………………………………………………………………………………………………………..16 Statement of Financial Activities…………………………………………………………………………………………………………..20 Balance Sheet…………………………………………………………………………………………………………………………………………………….21 Statement of Cash Flows……………………………………………………………………………………………………………………………22

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Chair and Chief Executive Statement

In the year that the government published a new five-year suicide prevention plan for England, The Listening Place also reviewed our strategy and plan for the coming period (2024-2027).

In recent years, we have faced overwhelming threats to our mental health: a global recession that increased suicide rates and a pandemic that – against most expectations – did not.

The national paper sets out that the countrywide suicide rate has not fallen since 2018. There are still over 5,000 deaths by suicide in England each year. The male rate remains three times higher than for women and suicide and self-harm have increased in young people.

The government strategy reminds us that suicide prevention starts with society’s values, with breaking down the shame that can deter people from seeking help, combined with offering people opportunity and hope.

This is exactly where The Listening Place operates.

Our mission is clear: to provide face-to-face support for people who feel life is no longer worth living. When people who are experiencing suicidal thoughts or feelings are connected or reach out to us there is no wrong door. They receive timely support and a friendly welcome.

At the heart of our model is creating a non-judgemental place where our highly trained volunteers help visitors gather the confidence to be able to talk about difficult and painful subjects. Sensitive inquiry is a key part of risk management. We recognise people’s autonomy but offer a relationship and place where people can explore their pain safely and confidentially.

Over its first seven years The Listening Place has played a key role in supporting people in the capital and over the coming years we plan to do more.

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Our commitment remains unwavering, we will offer a place where we can support each other as human beings, to ensure that no one feels like their only option is to take their own life. Thanks to our volunteers, staff and supporters we can strive to reach more people and reduce the number of lives lost to suicide.

“This is my lifeline and I think quite frankly I would not be alive today without this support.” – A Visitor

4

THE LISTENING PLACE

REPORT OF THE TRUSTEES

Year ended 31 March 2024

The trustees present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Constitution

The Listening Place is a Charitable Incorporated Organisation (CIO), registered on 7 December 2015 as a body corporate under Part 11 of the Charities Act 2011. It is governed by its Constitution dated 7 December 2015.

Structure, governance and management

The trustees undertake the duties laid down by the Charity's governing document, with full responsibility for the charity's values, mission, strategy and budget. The operational decisions are led by Sarah Anderson CBE (Chief Executive) using her delegated authority from the Board of Trustees, and she is assisted in the day-today running of the charity by a team of staff including Deputy CEO, Ben Ingber and volunteers.

Objectives and Activities

Objectives

The objective of The Listening Place, a Charitable Incorporated Organisation and a public benefit entity, is to relieve mental suffering and help save the lives of those who find themselves at risk of suicide, through the provision of trained and supervised volunteers providing listening support.

Mission

To provide face-to-face support for people who feel life is no longer worth living.

Vision

Anyone who feels life is no longer worth living can find a confidential place with a compassionate listener who will give them time.

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Activities

TLP is now a leading provider of effective support for those struggling with suicidal feelings in London, reaching more than 5,000 people a year and supporting more than 1,300 people at any one time. We work with more than 150 referral partners to ensure that if someone feels suicidal, they have somewhere to go and someone caring who will listen.

Our support has five key principles which make it effective and unique:

2023/24 was the final year of our current organisational strategy (2018-2023) which had the following objectives:

  1. We will support more people across London who feel life is no longer worth living. Our aim this year, was to engage 5,500 people with at least one appointment and train 300 volunteers to enable that.

  2. We will collaborate to improve the way people who have suicidal thoughts are cared for across the UK. We aimed to engage with 160 referral partners to enable rapid access to our support.

  3. We will manage our charity as effectively and efficiently as possible. We aimed to keep the cost per person supported below £300 and for no more than 20p from every £1 to be spent on fundraising and marketing costs.

“Out of all of the services there to support me; the best one I feel has been The Listening Place. I feel that I have been listened to and that they have been there to help me.” – A Visitor

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TLP’s Performance in 2023/24

OUR HIGHLIGHTS:

----- Start of picture text -----
TLP Referrals 2023/24 by Quarter
2500
2000
1500
1000
500
0
Q1 Q2 Q3 Q4
----- End of picture text -----

5,222 In 2023/24 We increased the number of visitors receiving face-to-face support by 9% to 5222.

----- Start of picture text -----
TLP Targets for 2023/24
----- End of picture text -----

Total number of referrals: 7989 Total number engaged: 5222 Volunteers Trained: 339

Status: 96% completed Status: 95% completed Status: 100% completed

100%

of visitors rated their experience of TLP as fairly or very good.

98%6% Said they felt they could speak openly about their suicidal feelings

£1.23m

Almost 75,000 hours of volunteering Hours delivered, worth more £1.23m in donated time.

£293

For the eighth consective year, it has cost us less than £300 per person we supported.

7

TLP’s Performance in 2023/24

HOW DID TLP PERFORM AGAINST ITS TARGETS FOR THE YEAR?

----- Start of picture text -----
Referrals to TLP 2023/24
Chart 1: Referrals to TLP by Quarter
2500
2000
1500
1000
500
0
Q1 Q2 Q3 Q4
Ethnic Dliversity
Chart 2: Ethnic Diversity of TLP Visitors
2023/24
60%
50%
40%
30%
20%
10%
0%
London Census % of total TLP referrals
Target Volunteers Recruited by Quarter
Target Number of Volunteers Recruited
vs. Actual Recruitment
Q1
Q2
Q3
Q4
0 20 40 60 80 100 120
Target Actual
Remaining Capacity across Sites
Thanks to recruitment and good volunteer retention, by the
end of the year TLP achieved:
91% volunteer capacity filled at our
Meade Mews site.
94% capacity filled at our Hunter
Street site.
56% capacity filled at our
Shepherd’s Bush Road site opened
in 2022.
Black/Black BritishWhite/White BritishOther Ethnic GroupAsian/Asian British Mixed/Multiple
----- End of picture text -----

----- Start of picture text -----
TLP Targets for 2023/24
Key Targets for the Year
Total number of referrals: 7989 Status : 96% completed
Total number engaged: 5500 Status : 95% Completed
Total volunteers trained: 339 Status : 100% Completed
----- End of picture text -----

Increase in Referrals

Between 2022/23 and 2023/24, the total number supported by TLP increased by 9% from 4,746 to 5,222.

Between Q1 and Q4 2023/24 the average monthly referrals increased by 17% .

The Visitor population was also diverse, with only more than half of referrals coming from a non-white British background.

Lastly, the age profile of visitors continued to be younger with 45% of referrals under the age of 30.

----- Start of picture text -----
Age of referrals
Age Profile of Visitors to The Listening
Place 2023/24
20% 18-30 31-60 60+
6%
45%
49%
----- End of picture text -----

----- Start of picture text -----
Staff Satisfaction
53 NPS
Our net promotor score was
53 which indicates very
strong staff satisfaction at
the Listening Place.
----- End of picture text -----

8

TLP’s Performance in 2023/24

WHAT WAS THE IMPACT OF OUR SERVICE?

How Impact is Measured

To understand our impact, we use two surveys to measure suicidality and one to understand each visitors experience of our service.

----- Start of picture text -----
CSSR-S Thermometer Scale VEQ
The Columbia Suicide We combine this At the end of each
Severity Rating Scale with our own set of siex session,
is a brief thermometer visitors fill out a
questionnaire which questionnaire which questionnaire to
asks directly about simply asks people evaluate the quality
someone’s suicidal to rate on a scale of of support received
feelings. It is a 1-10 their feelings of
clinically recognised distress, suicidality
measure. and support.
The TLP Impact Timeline
First appointment: visitor Review appointment: visitor
completes CSSR-S and re-completes the survey as
Thermometer Scale. well as a VEQ.
Customer Acquisition Channels
Someone is Individual either
referred to TLP leaves TLP or is
offered another six
sessions.
We contact them to Visitor completes six
set up first sessions with a
appointment listening volunteer
----- End of picture text -----

----- Start of picture text -----
Results 20% Results
6%
Of 3,510 Visitors asked, they
We assess this data through a rigorous,
biannual evaluation conducted by a experienced:
pro-bono team supervised by Dr Sophie
Smart (University of Cardiff) and Dr A 39% increase in feelings of support25% 45%
Davidson (Head of Psychosocial, British between initial assessment and 3-
Red Cross) with support from Professor month review.
Stephen Platt.
A 34% decrease in suicidal feelings
between initial assessment and 3-
month review.
Visitor Experience Questionnaire
97% of visitors said
they felt safe at TLP.
Of 1,788 visitors asked, they
reported the following on they felt they could98% of visitors said Our net promotor score was
their experience of The 100% rated their speak openly about XX which indicates very
their suicidal feelings.
Listening Place: experience of TLP as strong staff satisfaction at
fairly or very good. 98% of visitors felt their the Listening Place.
volunteers were skilled
and well-trained.
----- End of picture text -----

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TLP’s Performance in 2023/24

A VISUAL REPRESENTATION OF KEY PERFORMANCE METRICS AND ACHIEVEMENTS FOR THE MONTH.

----- Start of picture text -----
Volunteering Value Cost per Visitor
£1.23m £293
Almost 75,000 hours
The cost per visitor
of volunteering
Hours delivered, supported remained
below £350 for the
worth more £1.23m in
donated time. eighth consecutive
year.
Income Breakdown
£1.40m
£1.20m
£1.00m
£0.80m
£0.60m
£0.40m
£0.20m
£0.00m
Trusts and foundations Individuals Community and Corporate Services
Income vs Expenditure
Income
Expenditure
£0.00m £0.50m £1.00m £1.50m £2.00m
Income grew by 22% compared to last year after securing a number of large grants and enabled us to
generate a small surplus of £279,161.
Fundraising Success Government Funding
Over the past three years, TLP has:
increased income from corporate
sources by 136% 5%
Increased income from
community sources by 110%. TLP has achieved this fundraising
performance in 2023/24 while only
receiving 5% of income from statutory
Reduced the proportion of trust
sources and receiving no central 10
dependent income from 76% to 68%
government funding.
of total income.
----- End of picture text -----

Denis’ Story

Over the last 20 or so years, I’ve engaged with a number of services to help my mental health but nothing really seemed to help me figure out what the problem was. I always felt the problem was me but I couldn’t figure out how to fix me.

On 29th September 2022, I finally admitted defeat and acknowledged that I am an alcoholic and unless I found a way to stop drinking then I was on a path that ended with me drinking myself to death or ending my own life.

“Walking into TLP I immediately felt a sense of calm and safety.”

The first year of sobriety was really intense, I wasn’t working, in a mountain of debt, about to lose my home and despite not drinking I was really scared of what lay ahead for me and it also made me question if being sober was all it was cracked up to be.

I approached TLP alongside reaching out to my local borough for some talking therapy. I was fortunate to be offered six sessions by both and they happened on alternate weeks. Walking into TLP I immediately felt a sense of calm and safety. I realised that I hadn’t felt safe for many years. Alongside daily AA meetings I was able to explore a lot of my triggers and take power away from them. My meetings at TLP helped me to prioritise tasks and soften some of my thoughts. A lot of the time, it seemed like my mind was running a race I hadn’t actually signed up for.

I celebrated my first sober anniversary when I was attending TLP, writing this I am 18 days away from my second sober anniversary. I have a new place to live, I have paid off all my debts, and I am rebuilding my career. There really are not enough words to describe my gratitude for the support I was offered.

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Future Plans

We came to the end of our five-year organisational strategy (2018-2023) which we delivered successfully, taking TLP from a small charity to the leading provider of volunteer-led, sustained support for suicidal feelings in London.

The key task for this year was to set a new organisational strategy for the next three years which reflected our ambition to continue growing The Listening Place but retained the elements which make our support unique and effective.

Following a thorough process which included input from staff and volunteers, trustees set the following objectives for 2024-2027:

1) Support more people across London.

Over 40% of our referrals are from just three London boroughs, highlighting significant unmet demand across the capital. We will explore new ways to reach those who need us and make it even easier to access our support.

We will:

2) Collaborate with other organisations

Effective partnerships are critical for reaching potential visitors, and for influencing the policies and practices that impact those living with suicidal thoughts and feelings.

We will:

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3) Invest in our volunteers, staff and culture

We know our volunteer-led model of support is central to how effective we are in supporting our visitors. We strive to create the best possible environment for both our volunteers and the staff who support them.

We will:

4. We will scale and manage the organisation responsibly

We must continue to expand at a steady pace to ensure we can support the increasing numbers of people referred to our service, while maintaining our commitment to operating without a waiting list.

We will:

Public benefit

The charity is a Public Benefit Entity, and in accordance with Section 4 of the Charities Act 2011, the Trustees have had due regard to the guidance published by the Charity Commission on public benefit when reviewing the charity's activities and planning future activities.

Financial performance

Incoming resources increased to £1,868,634 (2023: £1,378,942). This increase reflects our ability to secure a number of new multi-year grants and major donations. This ensured that there was no deficit against expenditure despite it increasing to £1,569,338 (2023: £1,276,908).

This increased expenditure reflected the continued growth of the staff team to meet operational needs, the ongoing development of our IT infrastructure and pay

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rise for staff in line with inflation. As of 31 March 2024, TLP had reserves of £3,057,477 and have made plans for the use of these reserves that are detailed below.

Investment Performance

Our policy is to maximise return whilst minimising risk. Given our plans to purchase a site, we have moved our investments so that they are less exposed to movements in equity markets and benefit from higher interest rates in fixed income funds. These funds have delivered an average of 5% per year.

Reserves Policy

The balance of the reserves on 31 March 2024 was £3,057,477. This figure is made up of free and restricted reserves. Currently our restricted reserves sit at £52,113.

When considering our reserves, we strike balance short-term spending needs, longer-term sustainability and our growth plans. As we are still in a growth phase, with plans to open additional sites, we are currently holding a higher amount of reserves than our long-term target.

Our target for free reserves is equivalent to 9 months' expenditure. For 2024/25 the expenditure budget is £1.8m. The free reserves target is therefore £1.35m. These free reserves will enable the charity to exploit emerging opportunities and mitigate risks, cover unforeseen shortfalls in income, and ensure an orderly wind-down in the unlikely event the charity is forced to close.

The remaining reserves, £1.5m, are designated towards the purchase of a centre for delivering TLP appointments. We estimate that this site will cost approximately £1.5m and therefore once concluded our reserves will be back in line with our target of 9 months of expenditure.

Remuneration policy

Employee salaries are recommended by the Remuneration Committee and approved by the trustees. The rates are benchmarked against the charity sector.

Recruitment and appointment of new trustees

There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees or appoint a new charity trustee. The maximum number of charity trustees is 12. The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum. Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must

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have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Statement of Trustees Responsibilities

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice). The law applicable to charities in England and Wales 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 of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the trust deed. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Risk statement

The Trustees are aware of the risks facing the charity and have a comprehensive Risk Register with a range of mitigating actions. The Risk Register is formally reviewed at each board meeting and updated, as necessary.

…………………………………………. Date:

V Michie

On behalf of the board of trustees of The Listening Place

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE LISTENING PLACE

Opinion

We have audited the financial statements of The Listening Place for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 course of 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 themselves. 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.

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Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9, 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 either intend to liquidate the charity or 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[1] of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

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

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

1 If a charity which is below the thresholds where a charity audit is required decides to have its accounts audited voluntarily, the auditor is appointed under section 145 of the Charities Act 2011.

17

going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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 objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity.

Our approach was as follows:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

18

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. 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 any party other than the charity and charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed.

Jonathan Aikens (Senior Statutory Auditor) For and on behalf of Moore Kingston Smith LLP Date:

9 Appold Street London EC2A 2AP

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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THE LISTENING PLACE

STATEMENT OF FINANCIAL ACTIVITIES

Year ended 31 March 2024

2024 2024 2024 2023 2023 2023
Unrestricted Restricted Total Unrestricted Restricted Total
Notes Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Income and endowments from: (As restated) (As restated)
Donations and legacies 1,500,604 352,123 1,852,727 1,285,745 58,750 1,344,495
Other trading income 25,669 - 25,669 - - -
Investment 83,838 - 83,838 34,447 - 34,447
Total Income and endowments 2 1,610,111 352,123 1,962,234 1,320,192 58,750 1,378,942
Expenditure on:
Raising funds 4 163,355 - 163,355 148,348 - 148,348
Charitable activities 6 1,139,573 360,010 1,499,583 933,945 194,615 1,128,560
Total expenditure 1,302,928 360,010 1,662,938 1,082,293 194,615 1,276,908
Net gains/(losses) on investments (20,134) - (20,134) (42,041) - (42,041)
Net income/(expenditure) 287,049 (7,887) 279,162 195,858 (135,865) 59,993
Reconciliation of funds:
Total funds brought forward 2,718,315 60,000 2,778,315 2,522,457 195,865 2,718,322
Total funds carried forward 3,005,364 52,113 3,057,477 2,718,315 60,000 2,778,315

All amounts are in respect of continuing activities.

20

THE LISTENING PLACE

BALANCE SHEET

As at 31 March 2024

Notes
Fixed assets
Tangible assets
7
Investments
8
Current assets
Debtors
9
Cash at Bank
10
Current Liabilities
Creditors: amounts falling due within one
year
11
Net current assets		 2024
2023
£
£
22,878
37,853
-
1,357,959
22,878
1,395,812
237,326
642,954
2,887,600
759,036
3,124,925
1,401,990
(90,326)
(19,487)
3,034,599
1,382,503
Total assets less current liabilities 3,057,477
2,778,315
Total funds of the charity
15
Unrestricted income funds:
General fund
Designated funds (New centre development fund )
Restricted funds		 1,505,364
1,218,315
1,500,000
1,500,000
52,113
60,000
3,057,477
2,778,315

The accounts were approved by the board of directors on …..................... and were signed on its behalf by :

V MICHIE

Trustee

21

THE LISTENING PLACE

STATEMENT OF CASH FLOWS

Year ended 31 March 2024

Notes
Cash flows from operating activities
Net income for the year
Depreciation
7
Loss on investment
8
Investment income
2
Decrease in Debtors
9
(Decrease)/Increase in Creditors
11
Cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
7
Disposal / (Purchase) of long-term investments
8
Income from investments
Cash (used in)/provided by Investing activities
Net increase / (decrease) in cash
Cash and cash equivalents at the beginning
of the financial year
Cash and cash equivalents at the end of the
financial year
10		 £
£
£
£
279,163
59,993
26,106
27,634
20,134
42,041
(83,838)
(34,447)
405,628
193,700
70,839
(24,004)
718,032
264,917
(11,131)
(12,184)
1,337,825
(400,000)
83,838
34,447
1,410,532
(377,737)
2,128,564
(112,820)
759,036
871,856
2,887,600
759,036
2024
2023		 £
£
£
£
279,163
59,993
26,106
27,634
20,134
42,041
(83,838)
(34,447)
405,628
193,700
70,839
(24,004)
718,032
264,917
(11,131)
(12,184)
1,337,825
(400,000)
83,838
34,447
1,410,532
(377,737)
2,128,564
(112,820)
759,036
871,856
2,887,600
759,036
2024
2023
(112,820)
871,856
759,036

22

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

1. Accounting policies

The principal accounting policies adopted, judgement and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Listening Place meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

(b) Fund accounting policy

Unrestricted funds are general funds that are available for use at the trustees' discretion in furtherance of the when specified by the donor or when funds are raised for particular restricted purposes. Restricted funds are amounts received to be used for a specific purpose.

In addition, a new designated fund has been initiated from the unrestricted fund towards the purchase and refurbishment of a fourth site in East London.

(c) Income

All income is recognised in the statement of financial activities when charity has entitlement to the income, it is probable that the income will be received, and the amount of the income can be measured reliably. Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

(d) Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

(e) Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

(f) Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - Straight line over 3 years.

(g) Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

(h) Cash and cash equivalents

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

23

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

(i) Financial instruments

Financial instruments are recognised in the Charity's Balance Sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

(j) Basic financial liabilities

Basic financial liabilities, including payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

(k) Donated goods, facilities and services

Donations are recognised in the period when it is probable that the economic benefits associated with the donated goods, facilities and services will flow to the charity and provided they can be measured reliably. An equivalent amount is included as expenditure under the relevant heading in the Statement of Financial Activities.

Donated facilities and services provided to the charity are measured and included in the accounts on the basis of their value to the charity i.e. the amount that the charity would pay in the open market for an alternative item that would give the same benefit to the charity as the donated item.

Donated goods are recognised at fair value unless it is impractical to measure this reliably in which case a derived value, being the cost of the item to the donor is used.

(l) Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

(m) Financial instruments

Financial instruments are recognised in the Charity's Balance Sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

(m) Basic financial liabilities

Basic financial liabilities, including payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

(n) Operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities in equal amounts over the period of the lease.

(o) Critical accounting estimates and areas of judgement

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year

24

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

Donations and legacies
Donations
Gift aid
Grants
Other Trading income
Investments
Bank Interest
Investment income		 2024
2023
£
£
597,995
581,607
24,661
22,504
1,230,070
740,384
1,852,727
1,344,495
25,669
-
25,669
-
4,764
6,249
79,073
28,198
83,838
34,447
1,962,234
1,378,942

3 Donated goods, services, and facilities

The charity received donated goods, services and facilities of £93,600 (2023 - £49,631) during the year.

The charity has a team of trained volunteers who provide direct support to suicide individuals. The trustees have calculated the value of volunteering hours based on the London living wage in this financial year of £1,230,000 (2022 - £846,750). The services provided by volunteers are not recognised as income in accordance with the charites SORP.

4
Cost of raising funds
Staff costs
Fundraising expenses
5
Staff costs
Wages and salaries
Social security costs
Other pension costs		 2024
2023
£
£
146,728
140,422
16,627
7,926
163,355
148,348
2024
2023
£
£
951,857
752,600
76,513
65,278
19,606
13,523
1,047,976
831,401

The average number of employees during the year on the basis of full time equivalent was 26 (2023 : 23) During the year two (2023: £Nil) employees received a emoluments in excess of £60,000. Trustees consider key management personnel to consist of the CEO and COO. Total employee benefits paid to the key management personnel during the year was £77,450 (2023: £52,000).

25

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

6 Analysis of Charitable Activities

Supporting visitors:
Charitable Activities
Support costs		 2024
2023
£
£
(As restated)
1,196,856
889,695
302,727
238,845
1,499,583
1,128,540

Analysis of Support costs:

Management
Information technology
Other
Auditor's remuneration
Auditors Remuneration
Current Auditor's Fees (Audit)
Current Auditor's Fees (Non Audit)
Prior Year Auditors Fees		 2024
2023
£
£
(As restated)
82,892
65,648
57,723
42,238
140,460
116,407
21,652
14,551
302,727
238,845
2024
2023
£
£
12,500
-
2,500
-
6,652
14,551
21,652
14,551

There was an adjustment to the expenditure allocations in the year to more accurately reflect the split between support and charitable activity costs. In order to ensure consistency of the allocations compared to the prior year a prior year restatement was made which can be seen above.

7
Tangible fixed assets
Cost
At 1st April 2023
Additions
At 31st March 2024
Depreciation
At 1st April 2023
Charge for year
At 31st March 2024
Net book value
At 31st March 2023
At 31st March 2024		 Computer
Equipment
Total
£
£
99,322
99,322
11,131
11,131
110,453
110,453
61,469
61,469
26,106
26,106
87,575
87,575
37,853
37,853
-
22,878
22,878

26

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

8 Fixed assets investments

Cost or valuations
At 1st April 2023
Additions/Disposal
Valuation movement
At 31st March 2024
Carrying amount
At 1st April 2023
At 31st March 2024
Fixed assets investments - Previous year
Cost or valuations
At 1st April 2022
Additions
Valuation movement
At 31st March 2023
Carrying amount
At 1st April 2022
At 31st March 2023
9
Debtors
Trade debtors
Other debtors
Prepayment and accrued income
10
Cash at bank
Current account
Deposit account
COIF Charities deposit fund		 Listed
investments
Total
£
£
1,357,959
1,357,959
(1,337,825)
(1,337,825)
(20,134)
(20,134)
-
-
1,357,959
1,357,959
-
-
Listed
investments
Total
£
£
1,000,000
1,000,000
400,000
400,000
(42,041)
(42,041)
1,357,959
1,357,959
1,000,000
1,000,000
1,357,959
1,357,959
2024
2023
£
£
750
19,228
1,119
-
235,457
623,726
237,326
642,954
2024
2023
£
£
346,008
282,154
-
237,964
2,541,592
238,918
2,887,600
759,036

27

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

11 Creditors : Amounts falling due within one year

Trade creditors
Other creditors		 2024
2023
£
£
38,030
1,330
52,297
18,157
90,326
19,487

12 Commitments

The charity currently leases the office premises. The future amount of minimum lease payments is a follows -

Within one year
In two to five years		 2024
2023
£
£
63,450
63,450
-
84,600
63,450
148,050

13 Trustee's remuneration and related party transactions

The Trustee's received no emoluments or expense reimbursements during the year (2023 - £Nil).

During the year the charity was charged rent for office space by the CEO and a trustee (whose term has since ended) of £101,520 including VAT, which is considered the going market rate (2023- £101,520). The amount outstanding at year end is £Nil (2023-£18,000)

During the year the charity was provided a building at nominal rent by a close family member of the Chief Executive. The charity rent paid £nil during the year. A deemed donation and corresponding expenses of £93,600 has been recognised, which is the estimated market rent.

14 Taxation

The Listening Place is a registered charity and as such is exempt from tax on its income to the extent this is applied for charitable purposes.

28

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

15
Analysis of funds
Analysis of fund movement
Unrestricted Fund :
General Fund
Designated fund
Restricted Fund :
Netherby Trust
The Considered
Lambeth Council
Rethink Mental Illness
Fishmongers CCT
Hammersmith & Fulham Council
Hammersmith & Fulham Council
Letter One
Prudence Trust
John Lyons Charity
Total Funds
Mental Health Hammersmith and
Fulham		 As at 1st
April 2023
£
1,218,315
1,500,000
2,718,315
60,000
-
-
-
-
-
-
-
-
-
-
60,000
2,778,315		 Income
£
1,516,512
-
1,516,512
-
35,000
30,000
19,006
5,337
25,000
77,780
55,000
25,000
50,000
30,000
352,123
1,868,635		 Expenditure
£
(1,209,328)
-
(1,209,328)
(60,000)
(35,000)
(30,000)
(19,006)
(5,337)
(25,000)
(25,667)
(55,000)
(25,000)
(50,000)
(30,000)
(360,010)
(1,569,338)		 Transfers
and Gains
£
(20,135)
-
(20,135)
-
-
-
-
-
-
-
-
-
-
-
-
-		 As at 31
March 2024
£
1,505,364
1,500,000
3,005,364
-
-
-
-
-
-
52,113
-
-
-
-
52,113
3,057,477

(Continued)

29

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

15 Analysis of funds (Continued)

Analysis of funds - previous year

(As restated)
As at 1st
April 2022
£
Analysis of fund movement
Unrestricted Fund :
General Fund
1,239,515
Designated fund
1,282,942
2,522,457
Restricted Fund :
Netherby Trust
120,000
Bally foundation (Formerly Gamesys
25,865
marguerite Foundation
50,000
Rethink Mental illness
-
The Leathersellers Company
-
Rethink Mental illness
-
LGBT
-
195,865
Total Funds
2,718,322		 Income
£
1,320,192
-
1,320,192
-
-
-
19,024
26,726
10,000
3,000
58,750
1,378,942		 Expenditure
£
(1,124,334)
-
(1,124,334)
(60,000)
(25,865)
(50,000)
(19,024)
(26,726)
(10,000)
(3,000)
(194,615)
(1,318,949)		 Transfer
between
funds
£
(217,058)
217,058
-
-
-
-
-
-
-
-
-
-		 As at 31
March 2023
£
1,218,315
1,500,000
2,718,315
60,000
-
-
-
-
-
-
60,000
2,778,315

The above funds are explained further in the accounting policy on page 17.

30

THE LISTENING PLACE

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2024

16 Analysis of net assets between funds

Fixed Assets
Current assets / liabilities		 General Fund
Designated
Fund
Restricted
Fund
Total
£
£
£
£
22,878
-
-
22,878
1,482,485
1,500,000
52,113
3,034,598
1,505,363
1,500,000
52,113
3,057,476

16 Analysis of net assets between funds - previous year

Fixed Assets
Current assets / liabilities		 General Fund
Designated
Fund
Restricted
Fund
Total
£
£
£
£
1,395,812
-
-
1,395,812
(177,497)
1,500,000
60,000
1,382,503
1,218,315
1,500,000
60,000
2,778,315

17 Prior period restatement

In the prior year, the charity had incorrectly classified an amount of raising funds expenditure to the restricted fund which was incorrect. The entirety of the restricted expenditure actually related to expenditure out of charitable activities. A prior year restatement has been made to correct this reclassification. Total expenditure remains unchanged. As a result, the comparative figures have been restated as show below:

Expenditure on:
Raising funds
Charitable activities
Total expenditure		 2023
2023
2023
Adjustment
2023
2023
2023
Unrestricted Restricted
Total Restricted
Unrestricted
Restricted
Total
Funds
Funds
Funds Funds
Funds
Funds
Funds
As previously stated:
(As restated) (As restated)
£
£
£
£
£
£
7,926
140,422
148,348
(140,422)
148,348
-
148,348
1,074,367
54,193
1,128,560
140,422
933,945
194,615
1,128,560
1,082,293
194,615
1,276,908
-
1,082,293
194,615
1,276,908

31