## **Thames Reach Charity Annual Report and Financial Statements 1 April 2022 - 31 March 2023**
**Thames Reach Charity: charity number 1166311, company number 10098652 Thames Reach Housing: charity number 1188800, company number 11462686, RSH number 5173**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Thames Reach Charity**
|**Thames Reach Charity**||
|---|---|
|**Contents**|**Page(s)**|
|Trustees Annual Report (Incorporating Strategic Report)|1-11|
|Directors Report|12-19|
|Independent Auditor’s Report|20-23|
|Consolidated Statement of Financial Activities|24|
|Consolidated Balance Sheet|25|
|Consolidated Cash Flow Statement|26|
|Notes to the Financial Statements|27-37|
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **TRUSTEES’ ANNUAL REPORT**
## Objectives and activities
## Our vision
Thames Reach’s vision is of a society where street homelessness is ended and where nobody needs to sleep on the streets.
## Our mission
The organisation’s mission is to help people affected by street homelessness to find decent homes, build supportive relationships and lead fulfilling lives.
## Statement of purpose
We specialise in helping people with complex and multiple problems, including those associated with poor health and substance misuse. We manage a range of services, including street outreach, emergency hostels, day services, specialist supported housing for people with substance misuse and mental health problems, tenancy support services, health initiatives and a range of employment, training and education schemes and programmes.
## Prevention and partnerships
Our intervention services, such as street outreach, hostels and drop-in advice services are at the heart of the organisation, effectively responding to rough sleeping by directly assisting people to move, and remain, off the street. Thames Reach also offers a range of services, including tenancy support, geared around prevention: that is, helping people to sustain accommodation and develop new skills so they can avoid drifting into a downward spiral of homelessness characterised by destructive moves into poorer and less stable accommodation. Thames Reach works to achieve its vision of ending street homelessness through effective partnerships and actively addresses unmet need. We seek collaborative ways of working with, amongst others, voluntary sector organisations, the NHS, central and local government, the business sector, the police, ambulance services and the fire brigade, supportive individuals, and local communities.
## Ethos and values
We strive to bring our ethos and values alive so that they are widely understood and inspire and drive the work of the organisation. The following statements of the organisation’s ethos and values are discussed at induction sessions for new employees, as well as in workshops and debates and are a reference point for organisational policies, strategies, and the development of new initiatives.
## What we do:
## Never giving up on people
We believe that the effects of homelessness and social exclusion are a great injustice and that the road to recovery can often be long and painful. We are committed to never giving up on people, no matter how challenging this may be.
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Highest aspirations, expectations and respect for service users
We are passionate about our belief that people can make real and lasting changes in their lives. We have the highest aspirations, expectations and respect for our service users and will never be indifferent to their individual needs.
## How we do it:
Compassion, integrity, professionalism and commitment
Thames Reach employees are characterised by their compassion, integrity, professionalism, and commitment. In return, unstinting support will be given to employees making decisions in the best interest of service users, trusting in their ability to work autonomously.
## Working together
Everyone at Thames Reach is working to end street homelessness, and all parts of the organisation have important contributions to make. We believe passionately in achieving trust and mutual respect between the different parts of the organisation to accomplish this objective.
## Working in partnership with others
Our aims can only be achieved by working in partnership with others; we know we do not have all the solutions. We generously give time, resources, and expertise to others if the ultimate outcome gets us closer to achieving our vision and mission.
## Open-mindedness
We are renowned for our open-mindedness, creativity, flexibility, and refusal to allow rigid, dogmatic approaches to reduce effectiveness or inhibit actions.
## We tell it as it is
Our strength lies in knowing what is happening on the ground and we use this knowledge to make an impact at the highest level, especially by giving our service users the chance to speak directly to those with influence and power. We always ‘tell it as it is’ presenting information and delivering our messages with integrity and honesty.
## Thames Reach’s service users
Thames Reach works with three distinct groups of people:
- People who have a longer-term relationship with the organisation that involves a needs assessment and a support plan;
- People who seek help around specific issues, which usually requires a brief intervention but not long-term involvement from Thames Reach;
- People assisted as part of a broader engagement with services operating in partnership with Thames Reach.
Thames Reach works with a full range of needs but in terms of our own organisational focus we are committed to supporting people with complex and multiple needs. Where a long-term relationship is appropriate, our approach focuses on providing a personalised service to each individual, with a support plan and an emphasis on recovery and change, using a range of techniques, including the development of Psychologically Informed Environments (PIEs).
## Employees
Thames Reach has a highly committed and skilled workforce and a clear progression route through the organisation for people who wish to pursue a career working with homeless and excluded people. Many people join Thames Reach as volunteers or trainees and move into more senior positions over time.
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The Thames Reach workforce is distinctive in that more than 20% of the workforce are themselves former users of services and, as such, are powerful role models who can inspire others to make progress away from homelessness and social exclusion.
Thames Reach has achieved a 1 star Best Companies Accreditation for 2022 and has also successfully made one of the regional league tables, as well as being ranked 31st as one of the “Best Companies to Work For” in the Housing Association sector for 2022. These accreditations demonstrate the commitment of our employees and the high levels of engagement.
## **Services**
Thames Reach support people through delivery of a range of services. We work with people who are currently homeless, those at risk of becoming homeless and vulnerable people with multiple and complex needs. We focus on the outcomes our services achieve and work with commissioners and other stakeholders to improve these, develop new models and ultimately, to end homelessness.
## **Volunteers**
Our volunteers remain a critical part of the work that we do at Thames Reach.
Volunteers support our services in many ways, such as in helping our outreach teams to find people sleeping rough and assist them off the streets. They also work with people who have moved into their own accommodation, helping them to develop links with their local communities, and with our Employment and Skills team to help people find and sustain employment.
Over the past year, we have worked with new partners, especially in local communities and in the voluntary sector, to promote our volunteering opportunities. We have built a stronger working partnership with Birkbeck, University College London and Goldsmiths to provide student placements, and hope to increase this by working with other universities and student placement providers in the future.
New corporate partners have come forward, and our wonderful long-term supporters have been flexible, generous, and considerate. We would like to note the invaluable support provided by the Worshipful Company of Information Technologists (WCIT), Ecovis, Nexus, Price Waterhouse Coopers (PWC), Dexters and MJ Hudson.
We have increased the number of volunteers in the last 12 months by sixty percent. For some people, an important function of our volunteering programme is the opportunity it offers to start a career with Thames Reach and in the homelessness sector more broadly. For these people, including those with lived experience of using our services, we are keen to continue providing the best support possible, and to provide clear routes into paid employment. We organised our own volunteer fairs, as well as attending fairs across London, in order to reach more people.
Over the next year, we will create new and flexible volunteering opportunities, better defining the role and strengthening ties between teams and volunteers so that everyone gains what they need to from a placement.
Above all, we will ensure that our placements provide valuable, meaningful experiences for the people that volunteer with us.
## **Background to the business plan**
2022-23 was the first year of the 2022-25 business plan. This business plan was developed in consultation with employees at all levels of the organisation, service users and Board members and sets out the strategic direction of Thames Reach. It established the key objectives the organisation is
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seeking to achieve as it strives to fulfil its mission and vision. We produce an annual work programme to deliver the business plan objectives, agreed by the Board of Trustees and reviewed annually. Responsibility for ensuring that business plan objectives are achieved is devolved to the Senior Management Team (SMT) and each department, service and team workplan contributes towards this goal. Thames Reach’s focus is on developing and providing services that are effective in delivering our mission for people who are or have been street homeless, or are at risk of this. Our business plan sets out how we would do this in three key areas:
Prevention: Rough sleeping is a damaging and disruptive experience that has a lasting impact on people’s health, confidence, employment prospects and relationships. It is important that, where we can, we intervene before people become homeless, or at the very start of becoming homeless, with the aim of providing support that equips people with the resources to continue their lives away from homelessness.
Intervention: Where people are sleeping on the street, we will intervene to help them into accommodation and to meet their immediate needs. These needs may be for treatment for poor mental health or a substance misuse problem, and they may also need help with understanding the longer-term options available to them. A particular focus has been on the provision of credible and accessible routes off the streets where a full assessment can take place and where a plan to resolve homelessness can be developed.
Recovery: We recognise that the journey away from homelessness is often not a simple one and may require more than the provision of accommodation. We will work to help people get the support they need to maximise their independence; to improve their health; to build supportive relationships; and to participate in society through sustainable volunteering or work.
Whether new or long-standing, we will measure the effectiveness of our services through their success in contributing to these goals. We will also assess whether services are best delivered by Thames Reach, by other agencies, or through a partnership.
To support these activities we will improve organisational support functions, including those relating to employees and volunteers, refresh our brand and approach to raising funds and take ownership of a hostel we currently manage on behalf of another Housing Association.
We have focused on reducing evictions from our services; our approach is to ensure that eviction is only used as an absolute last option to manage risk to other people using the service. We have introduced a system of review after every eviction in hostels looking at what could have been different in the environment, the support, and interactions with employees to better manage risk, prevent incidents and reduce evictions further. This has enabled us to half the number of evictions from our hostels and supported housing.
We have also increased the number of people who have moved on positively from our accommodation services, from 52 people in 2021-22 to 73 people in 2022-23. This positive move-on process is for people using our services and they are moves to accommodation which is more independent, or which better meets their health needs.
Good quality work is an important protective factor against homelessness, we want to increase the number of people in good quality employment within our services. Last year our employment and skills team supported over 200 people into jobs.
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## **Delivering the business plan: year 1**
## **Prevention**
Our prevention services work extensively across communities to stop vulnerable people from becoming homeless. We see the damage that rough sleeping and insecure housing does to individuals and communities, which is why we are committed to delivering prevention services that work to stop people from becoming homeless in the first place.
We work with local authorities to deliver services tailored to their areas, and we also source funding for our own services to pilot new approaches to preventing homelessness.
Deptford Reach, which in 2021-22 began to move from a building-based offer to delivering community outreach, was recognised with an award from the London Housing Federation this year as well as additional funding.
Support to find and keep good quality work is an important element of a complete homelessness prevention system.
In July 2022 we began to deliver an Individual Placement and Support (IPS) mental health employment team for the Lambeth Living Well Network Alliance.
IPS is an approach to delivering employment support that is increasingly being implemented across a range of settings and we will continue to consider opportunities to deliver these services where these are aligned to the aims of our business plan.
In the final six months of the year our Lambeth team supported 25 people to find work.
Our London Councils funded Sustaining Tenancies and Resettlement (STAR) team was re-tendered this year. The team work to support people at risk of losing their tenancies to maintain their independence and prevent rough sleeping.
## **Intervention**
Our intervention services get people off the streets and into safe environments where they can be given urgent, comprehensive support.
Sleeping on the streets is harmful, and we know that the longer people stay there, the more difficult it can be for them to rebuild their lives.
Street outreach services work to support rough sleepers to quickly move away from the street and into accommodation, giving them the best chance to escape from sleeping rough long term.
We successfully re-tendered for two of our locally commissioned outreach teams this year and were awarded the Greater London Authority (GLA) contract for the Rapid Response – a crucial element of the London wide response to rough sleeping. Our model for this service was developed in response to the changing context we see across London.
A strong message from our outreach teams is that to resolve rough sleeping they need fast, immediate, frictionless access to accommodation options. We are pleased to see increasing opportunities to present and discuss our model for assessment accommodation.
During this year we were awarded the contract for an assessment service in City of London and submitted bids for two services commissioned by Lambeth and the City that we are optimistically awaiting the outcome of.
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**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Recovery**
Our recovery services help people who have previously been homeless to move forward with their lives. We know that the journey away from homelessness is about more than finding a home. We work to help them maximise independence, improve their physical and mental health, build supportive relationships and access opportunities to find long term, sustainable work.
Tenancy Sustainment is an important element of our recovery services and we were successful in retendering for this contract.
We began delivering the new contract for Tenancy Sustainment Team (TST) South at the start of this year; supporting 900 rough sleepers to live independently, building the skills and community links they need to continue their journey away from the street.
By the end of the year the team had supported 148 people to move on to further independence and at the end of the year 77 clients were in work.
The team are increasing their focus on supporting people to find work and to improve their wellbeing through better management of their physical health.
Our work in the Lambeth Living Well Network Alliance is focused on improving access to mental health services within the community and reducing unnecessary admissions to hospital.
The Staying Well team work with GPs to improve community support for people experiencing mental ill health. Staying Well and the Community Living and Support Service (CLaSS) team support people who have been admitted to return back to a healthy life in the community.
An important part of supporting people when they move into their own place is our client welfare Essentials fund which helps with furnishing flats and purchasing essentials so that people can make a positive and well-resourced start to independent living.
We received funding this year from Lewisham to deliver Employment, Training and Education support to people who have slept rough to develop the skills they need to move closer to finding and sustaining work.
## **Organisational enablers to support this work**
## **Ensuring that we are a competitive employer that can recruit, retain, and develop the best employees**
As an employer of choice we engage and communicate with our employees. We have reviewed our benefits offer and seek to improve this based on feedback from employees. Our salaries are regularly benchmarked and adjustments made where the benchmarking indicates this is required. We benchmarked roles in Central Services and some adjustments were made to ensure we continue to attract a high calibre of employees.
We recognise the trade union UNISON and are aligned to the National Joint Committee. The nationally recognised pay increase for 2022-23 was £1,925.
## **Messages**
We have used our influence and membership of both pan-London and national groups to advocate for a better response to non-UK nationals who are sleeping on the streets, as well as a more effective response to the health needs of people who are affected by rough sleeping.
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Our influential membership of pan-London and national groups enables us to ensure the messages from our services and the people they work with are being persuasively delivered to people who decide strategy and fund services. We are continuing to advocate for a more effective response for non-UK nationals who are rough sleeping and greater access to mainstream health services for people we work with.
## **Use of property**
Thames Reach Charity now owns 18 Brokerage and Resettlement (BRiL) properties in Lambeth, three Peer Landlord properties, the Employment Academy, Elmfield and Hudson Houses in Stockwell, as well as Deptford Reach and the 3rd Floor of the Bondway office (held on Deed of Trust by Places for People).
During the year the Employment Academy and our offices in Stockwell have provided a base for service delivery as well providing a financial contribution through rents and charges for room rental.
In late September 2023, Deptford Reach, a property previously owned by the charity was sold for £1m.
## **Financial resilience**
We aim to maintain a diverse funding portfolio, with grants from trusts and foundations, health funding and donations from the members of the public all forming elements of our income. However, the largest part of our service delivery is funded by contract income from local and regional government. The duration of this funding has been uncertain over the last few years, with central government the ultimate source of the majority. The government spending review in the autumn of 2021 confirmed levels of funding for the three years from April 2022, which provides welcome stability, and started a process of moving from ad-hoc to longer term contracts. Our asset base continues to be strong as set out above, and we reviewed our approach to corporate and individual fundraising in the course of the year and have begun a process of investment in this and our communications work.
## **Supporting employees**
Our committed and competent workforce deserve an environment in which people feel valued and supported and where those putting in the most and performing at the highest level are appropriately acknowledged and rewarded. We introduced a three-year People plan which will enable the Thames Reach business plan by attracting and developing a highly motivated and talented workforce and building on a culture where employees can thrive. We will continue to recruit, retain and develop a motivated, engaged and diverse workforce. We will work together as one organisation, unified by our shared values and ethos.
We have increased our workforce year-on-year in response to expansions in the work that we do, particularly in street outreach and other intervention services. To facilitate this we have looked at, and continue to look at, our approach to recruiting and developing our employees and have introduced an applicant tracking system and online pre-employment assessments.
Employee wellbeing is important to us. We have increased the number of wellbeing initiatives including supporting employees to become Mental Health First Aiders and introduced reflective practice in relevant services. Our highly acclaimed trainee programme is the entry point for many people seeking employment at Thames Reach and remains extremely popular and last year 78% of trainees gained employment at Thames Reach.
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Thames Reach provides learning and development opportunities at all levels of the organisation including sponsored long-term study and accredited leadership courses. Four employees were enrolled in vocational degree accredited courses which will benefit them as well as the organisation.
## **Governance**
We have an engaged Board of Trustees. The Board is discussed in more detail below. During the year we have competed the registration of Thames Reach Housing, our registered provider subsidiary and are now negotiating to take ownership of the Robertson Street hostel in early 2024. In autumn 2022 we undertook an external review of our governance. This was carried out by the Campbell Tickell consultancy who stated that they were struck by the Boards passion and ability to see the vision of the organisation commenting that: ‘The board is active in shaping Thames Reach’s overall strategy and in providing strong and effective leadership’ and that ‘Overall Thames Reach Charity is a wellrun organisation with sound governance principles in place. We have subsequently been working through detailed recommendations, in areas such as Board renewal, management of risk, and subCommittee roles.
## **Communicating our messages**
As a leading organisation working with people affected by street homelessness, Thames Reach has a responsibility to share accurate and candid information with our supporters and other stakeholders (particularly including those responsible for the design and administration of services) to ensure that policy is informed by this information rather than myth and supposition. This is in keeping with our commitment in our ethos and values statements - to tell it as it is.
Thames Reach has continued to engage with government, policy makers, other voluntary sector organisations, and the public through a range of groups, meetings and events operating on a local, regional, national, and international level. We are represented on the national ministerial Rough Sleeping Advisory panel along with other homelessness charities, political leaders, and experts.
At a regional level we have been active contributors, through Thames Reach’s Chief Executive, to the London-focused Life Off the Streets Executive Board, which aims to coordinate an effective response to the issues raised by rough sleeping between local, regional and central government, health and social care and the voluntary sector.
We also communicate to members of the public via campaigns, fundraising appeals and media coverage. We take our responsibility to communicate accurate information seriously, whilst also recognising that not all communications can cover every nuance of the complex issue of homelessness, especially when they to a new audience. We want to give service users the opportunity to tell their own stories, and to share their experiences of working with Thames Reach.
## **Structure, governance and management**
## **Risk factors**
Our organisational risk register is reviewed at least annually on behalf of the Board by the Governance and People sub-Committee. Individual sub-Committees leading on relevant risk areas conduct detailed reviews of risks and mitigations, and identify changes in existing risks and new risks, and changes to mitigations. These procedures identify any significant risks and monitor progress and planning in relation to management of organisational risks.
Risks are evaluated on a matrix of impact and probability, together with any mitigation. On this basis the biggest risks to Thames Reach at the moment are:
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- Contract risk;
- Capacity and use of resources;
- Competition;
- Public perception and adverse publicity;
- Relationship with funders.
On this basis the Trustees have been able to delegate responsibility to senior management to ensure controls are in place to manage them.
The Board reviews major risks to the organisation via the reporting mechanisms established which link the main Board with the three standing Committees. It also receives direct reports from the Chief Executive, which are provided at every Board meeting. Detailed systems and procedures have been established to manage and mitigate the risks faced by Thames Reach. These include:
- Financial risk assessments covering risk to funding and issues of compliance which are reported to the Finance, Audit and Fundraising Committee and the Board;
- An effective system of internal audit of individual teams;
- Health and safety reports which are submitted to the Services Committee on a quarterly basis for scrutiny, with a report going to the full Board annually;
- An organisational risk register covering key aspects of operations and delivery from which areas of risk are selected, analysed and focused on by the Committees over the year with a view to mitigating risk;
- Reports on performance against service delivery outcome targets which the Board receives after scrutiny by the Services Committee;
- Reports on the progress of actions within the organisational work programme, established to deliver on business plan outcomes.
The organisational approach to corporate risk and its identification and management is set out in our organisational risk policy.
Fundraising
The fundraising landscape has remained challenging in 2022-23, with the impacts of the pandemic continuing to be felt, and the cost of living crisis beginning to affect personal income at the end of the year. In particular, grant makers saw significantly increased competition for funds and many grant makers have taken the opportunity to pause and review their strategies over the past year.
However the year has seen the start of a process of improving our approach to fundraising, by building tools to communicate with potential givers and beginning to build a larger group of individual supporters. This followed the external review of our fundraising activities and the subsequent appointment of a new Head of Fundraising and Communications.
We would like to thank the following supporters:
29th May 1961 Charitable Trust Barclays Founda�on Barra� Development plc Charitable Founda�on City Bridge Founda�on Dexters Ecovis Enterprise Hackney Parochial Charity
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Hubbub — Tech Lending Project London Housing Founda�on Lloyds of London Founda�on Team London Bridge The Na�onal Lo�ery Community Fund Trust for London Walcot Founda�on Worshipful Company of Information Technologists
Safeguarding, use of volunteers and good governance
The Director of Operations is the organisational safeguarding lead and the Services Committee receive reports on a quarterly basis on incidents and the number of safeguarding alerts made. In 2022-23 Thames Reach employees raised 160 safeguarding alerts.
We raise an alert with local authority safeguarding teams where we believe that there is a vulnerable adult at risk of abuse, including self-neglect, financial abuse, physical abuse, sexual abuse, radicalisation, or institutional abuse. A safeguarding alert alone will not prevent abuse, and employees continue to work pro-actively with other involved professionals, including mental health teams, to identify longer-term solutions.
All employees and volunteers have safeguarding training as part of the induction with the organisation. Thereafter employees and volunteers attend regular refresher sessions. Safeguarding is considered in all aspects of frontline roles.
Going concern
In the Financial Review section below, the overall health of Thames Reach’s position is discussed. As part of the Trustees review of the appropriateness of adopting the ‘going concern’ basis for preparing the annual accounts an analysis of performance during the 2022-23 year and a 3 year projection was performed. The bulk of Thames Reach’s operating costs relates to staffing costs. Because of this, our staffing is arranged with generic job descriptions that allow redeployment in the case that the service an employee is in gets decommissioned. Only if redeployment options are not available is redundancy an option. Trustees maintain a contract tracker to identify services that are contracted for longer than two years, meaning that employees are on permanent contracts, for any indication that they will be decommissioned.
The year and the impact of the ongoing cost-of-living crisis has seen significant increases in staffing costs – this has a real impact given that most services are delivered on multi-year fixed price contracts. We have responded to this by negotiating cost uplifts, and/or the retention of underspent income with commissioners; as well as ensuring that contract prices are as cost effective as possible. The exposure of Thames Reach to contract loss is assessed and the lost contribution to core costs as well as potential redundancy costs are considered (as well as the potential impact of the
continuation of underfunded contracts), however most employees are likely to be eligible for TUPE transfer to a new provider in the event of contract loss, unless the service is decommissioned. In the reviews up to the date of signing these accounts this was thought unlikely. On the basis of these reviews, the Trustees consider it is appropriate for the ‘going concern’ basis to be adopted in preparing these financial statements.
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## **Financial review**
The Statement of Financial Activities shows total incoming resources of £23,703,211 (2022: £22,094,651) - an increase on last year of 7.28%. Resources expended was £23,691,874 (2022: £22,240,744) which was 6.52% more than last year. In keeping with previous years, 99% of all expenditure was incurred on direct charitable activities. As in previous years, total fundraising and publicity costs represent less than 1% of the proportion of total income generated.
Thames Reach does not own the hostels and flats that it manages, other than the 18 BRiL flats and three Peer Landlord properties. We also own the Employment Academy, the Hudson and Elmfield site, Deptford Reach’s property, and one floor of an office building in Vauxhall (Bondway). We strive to maximise use of these buildings to help funding the work of our employment services and we operate a five-year rolling programme of renewal in relation to furniture and equipment.
Thames Reach continues to maintain its record of financial stability and the maximisation of our use of resources on direct charitable expenditure. To ensure this, the Board, through the Finance, Audit and Fundraising Committee together with its Treasurer will continue to closely monitor the levels of reserves required, alongside looking at further opportunities for maximising the return on Thames Reach properties.
## **Reserves**
The Board of Thames Reach recognises the need to maintain financial stability in order to achieve our strategic intent and carry out the charitable objects of the organisation. The Board therefore considers it prudent to maintain adequate reserves which, in conjunction with appropriate financial controls and risk management systems, will minimise any disruption to our services.
The level of reserves and the reserves policy is reviewed annually by the Finance, Audit and Fundraising Committee to ensure the reserves are maintained at a level adequate for potential risks. Contract and service performance is monitored and if these proved to be producing deficits and not contributing to core costs, we would need to review our involvement considering the necessity to cede those contracts or restructure to move to a position of full cost recovery once more. To avoid the risk of illiquidity the Board’s policy is targeted on building a general fund of between 9% to 10% of income, or around £2 million. This target has been set in line with local authority expectations and to ensure that reserves levels would not be deemed too high. The General Fund is held partially to allow for working capital and for capacity and time to restructure in the event of a decrease in income or significant increase in costs. At year end the General Reserve was £1,604,773 (2022: £1,490,933). More details can be found in note 15 of the accounts. Given the budget forecasts and strong cash flow, as well as a number of saleable assets available, the Board is comfortable with this number with a view to continuing to build towards the target in future years.
## **Analysis of assets**
Note 16 sets out an analysis of the assets and liabilities attributable to the various funds. These assets are sufficient to meet the organisation’s obligations on a fund-by-fund basis.
## **Other annual and strategic report requirements**
## **Public benefit**
We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Trustees believe there is a clear public benefit derived from the activities of the Charity in their work assisting homeless and vulnerable individuals to find decent homes, build supportive relationships and lead fulfilling lives.
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## **Directors Report**
## **Reference and administrative details of the charity, its Trustees and advisers**
Thames Reach Charity, operating as Thames Reach, is a charity registered in England and Wales number 1166311 and a company limited by guarantee number 10098652.
Our principal address and registered office is: Employment Academy, 29 Peckham Road, London, SE5 8UA.
The Senior Management Team (SMT) consists of:
- Bill Tidnam, Chief Executive;
- Joanna Mark-Richards, Director of People
- Paul Jackson, Director of Finance and Central Services (to 28 June 2022);
- Lee Lochab, Director of Finance and Central Services (in post from 3 October 2022);
- Catherine Parsons, Director of Operations (to 4 September 2023);
- Kristian Draper, Director of Service (in post from 29 August 2023);
## **Trustees 2022-23**
Trustees who served during this year are listed below. None of the Trustees has any beneficial interest in the organisation. No non-executive Board member claimed expenses and no nonexecutive Trustees were remunerated for their work on the Board.
Stephen Howard (Chair) Vasim Ul Haq (Vice Chair and Treasurer) Peter Davey William Flenley KC (to 27 June 2023) Anthony McBrearty Michael Scorer David Ford Rebecca Taber Simon Rawson Olukemi Jeboda Louise Wilson Georgina Thompson Catherine Bennion (from 25 September 2023) Irmani Smallwood (from 25 September 2023) William Tidnam* (Chief Executive and Company Secretary)
*Ex-officio Board member
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## **Bankers and Auditor**
**Bankers:** National Westminster Bank plc London Bridge Branch PO Box 35 10 Southwark Street London SE1 1TJ Barclays Bank plc PO Box 35721 London E14 4WA **Auditor:** Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW
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## **Structure, governance and management**
## **Board processes**
Thames Reach’s process for selecting new Board members is detailed in its Board renewal strategy. Thames Reach chooses to use open and transparent recruitment practices for new Board members, which includes externally advertising positions on the Board. New Board members undertake an induction - including visits to a range of Thames Reach projects - which gives them the opportunity to meet employees and service users. The Board appraises its performance as a group and, additionally, individual members are appraised by the Chair of the Board. The Chair is appraised annually by the Governance and People Committee who have responsibility for ensuring that the Chair is accountable to the Board. The Board will also undertake the occasional appraisal by an external consultant. Thames Reach’s appraisal processes are set out in the Board appraisal strategy.
The Board undertakes an external appraisal every three years and this was carried out by Campbell Tickell consultancy in autumn 2022. As reported above this was very positive and we are currently working through the detailed recommendations. A new approach has now been taken on Board appraisals, and any Trustees who have served nine years or more, will be subject to an annual appraisal and will follow the retirement and reappointment process on an annual rather than threeyearly cycle.
The year also saw the review of the group governance handbook and introduction of the group structure following new registration of Thames Reach Housing with the Regulator of Social Housing.
The Board strives to ensure that its membership reflects wider society and is diverse in both profile and encapsulated in Thames Reach’s policy statement on equality, diversity and inclusion (see page 18).
## **Charity Governance Code**
The Board has adopted the Nolan Principles of Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership, and complies with the Charity Governance Code. The Board continues to progressively refresh the Board and conduct Board appraisals. Individual Board members are fully appraised in a 360-degree appraisal every three years, with Board members serving over the recommended nine-year term subject to an annual appraisal. During the year several Trustees were appraised, and it was agreed they will continue to serve. The Board is conscious of the need to balance Board renewal to bring new skills and perspectives to its work, with the desire to retain the expertise and knowledge of longer-term Board members, underpinned by regular appraisals. The Board membership was 13 during 2022-23. We anticipate that some Board members will step down and new members join over the course of 2023-24.
## **The work of the Board**
Sir Ken Olisa OBE continues as the Honorary President of Thames Reach. Our Chair, Stephen Howard, took up office in October 2016 and is assisted by Vasim UI Haq, the vice-chair. The role of the Board is to provide clear strategic direction and effective risk management to enable the organisation to achieve its vision of ending street homelessness in partnership with other organisations, individuals and groups, and its mission of helping homeless people to find decent homes, develop supportive relationships and to live fulfilling lives.
There were five Trustee Board meetings during the year and all meetings were quorate. The majority of meetings were held in person following a period of virtual meetings during the pandemic.
**Page 14**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **The work of the Committees**
All three Committees of the Board, as detailed below, met regularly throughout the year. All meetings were quorate. Meetings were mainly online other than the Services Committee which met in person, although with the option of online attendance.
The Committee chairs referred up to the full Board all issues and matters requiring its attention and each Chair provided a summary report at Board meetings throughout the year.
## **Finance, Audit and Fundraising Committee**
The Committee met on five occasions during the year and was chaired by Vasim Ul Haq. The other Board members on the Committee were Simon Rawson, Georgina Thompson, Bill Tidnam and Stephen Howard.
The principal duty of the Committee is to provide a strategic overview of the financial position of the organisation by examining budgets and making recommendations, approving the end-of-year accounts, and considering the financial risk factors to the organisation.
During the year, the Committee scrutinised the quarterly accounts, quarterly fundraising reports, approved the final accounts and annual report and recommended the annual budget. The Committee routinely scrutinises the financial risk analysis before it reaches the full Board. The Committee also gave particular attention to voids, arrears and bad debt issues in Thames Reach’s accommodation projects and the non-statutory fundraising strategy and plan.
## **Services Committee**
The Committee met on three occasions during the year and was chaired by Michael Scorer. Other Board members on the Committee were David Ford, William Flenley, Louise Wilson and Bill Tidnam.
The Committee’s role is to ensure that the standards and performance of services delivered to homeless and vulnerable people remain high and that services continue to develop and improve coherently and effectively. During the year the Committee focused on:
- Improving reporting on the impact of Thames Reach’s services.
- Service user engagement —the service user survey was undertaken in the autumn of 2022, and the Committee reviewed the approach to this survey with the aim of encouraging open and honest responses.
- Scrutinising how effectively Thames Reach deals with complaints;
- Scrutinising service delivery incidents, the response to these, and lesson and trends from these incidents.
- Reviewing approach to specific services – for example prevention, and health services.
## **Governance and People Committee**
The Committee met on four occasions during the year and was chaired by Becca Taber. The other Board members on the Committee were Peter Davey, Tony McBrearty, Olukemi Jeboda, Louise Wilson and Bill Tidnam.
The Committee’s primary responsibilities include overseeing the renewal of Thames Reach’s Board, including the recruitment of new Board members, making arrangements for the appraisal of the Chief Executive and overseeing the appraisal of the Board’s performance. The Committee is also responsible for reviewing the remuneration of the Chief Executive and other senior employees at Director-level or above and making recommendations on HR-related issues following scrutiny of the annual People report. This annual People report monitors the diversity of employees, the leadership team, and the Board. This is also reported annually to the full Board.
**Page 15**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
During the year the Committee focused on:
- Reviewing group governance to ensure that the relationship between Thames Reach Charity and the Thames Reach Housing subsidiary is clearly defined and reflects the needs and separate regulatory responsibilities of both organisations;
- Reviewing the organisation’s People (Human Resources) reporting to ensure that they have good and up to date insight into the People challenges facing the organisation;
- Supporting the implementation of the new People structure
- Commissioning the external Board appraisal on behalf of the Board and overseeing the implementation of recommendations.
- Reviewing the annual Health and Safety report and making recommendations to the Board on issues arising from it;
- Overseeing changes required by the Charity Governance Code;
- Talent management planning.
## **Fundraising**
Thames Reach has no fundraising activity requiring disclosure under S162A of the Charities Act 2011.
The Trustees have taken account of the provisions of the Charities (Protection and Social Investment) Act 2016. Thames Reach is a member of the Chartered Institute of Fundraising and is registered with the Fundraising Regulator; we follow the Fundraising Regulator’s Code of Fundraising Practice and we subscribe to the Fundraising Preference Service.
In 2022-23 we engaged in various forms of fundraising connected to individual giving. This included digital campaigns delivered with the support of a consultant.
In 2022-23 we received no formal complaints about activities by the charity, or by a person on behalf of the charity, for the purpose of fundraising.
We have a Fundraising with People in Vulnerable Circumstances policy in place, which outlines how Thames Reach approaches fundraising when communicating with people who are in vulnerable circumstances.
## **The Thames Reach Group**
The Thames Reach Group consists of Thames Reach Charity and Thames Reach Housing. Thames Reach Housing is a registered charity and a registered provider of social housing. During the year Thames Reach Housing did not have any transactions. The Group figures in these financial accounts represent the combination of results from Thames Reach Charity and Thames Reach Housing.
## **Statement of disclosure of information to auditors**
So far as each of the Trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company’s auditors are unaware, and each Trustee has taken all the steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.
**Page 16**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Objects and activities**
## **Objects**
The mission of the Charity is ‘ to ensure that every person that Thames Reach supports is able to find and sustain a decent home, build supportive relationships, and lead a fulfilling life. This is expressed in our Charitable objects in the following terms: _The objects of the charity (the "objects") are for the public benefit:- the relief of poverty, old age, disability or ill health, in particular but not exclusively by the provision of housing and health and employment advice and support; and any other exclusively charitable purpose according to the law of England and Wales as the trustees in their absolute discretion from time to time determine_
## **Statement of purpose**
The organisation specialises in helping people with complex and multiple problems, including those associated with poor mental health and substance misuse. It manages a range of services, including street outreach, frontline hostels, day services, specialist supported housing for people with substance misuse and mental health problems, tenancy support services, health initiatives and a range of employment, training and education schemes and programmes.
## **Health and safety and wellbeing**
It is Thames Reach’s policy to energetically fulfil its responsibility to maintain a healthy and safe working environment for all its employees, volunteers, visitors and service users, and to ensure that all that is reasonable and practical is done to reduce and manage risks. Thames Reach’s Board has a responsibility to ensure this policy is implemented in a rigorous manner and is committed to continuous improvement in health and safety performance. Performance is monitored through annual reports to the Board and regular reports to the Services and Governance & People Committees. The Chair of the Health & Safety Committee was the formally designated Health and Safety Officer.
Thames Reach keeps up-to-date with changes in legislation and good practice and has implemented its health and safety strategy which aims to achieve further reductions in workplace accidents and ill health and also seeks to increase service user involvement and promote wellbeing and commits the organisation to reviewing all its existing policies and procedures associated with health and safety on a regular basis.
Encouragement to address health, wellbeing and work-life balance is embedded through team workplans and from information sheets circulated to employees. Our new e-learning means all employees can access health and safety information on a more regular basis.
Operationally, we respond to commissioners who require detailed reporting of incidents and are also required to report any serious incidents to the Charity Commission.
## **Environment**
At Thames Reach we are conscious of the environmental impact of our services, and we strive to reduce emissions, be as energy efficient as possible, and have a positive environmental impact on the communities where we work.
## **Plans for future development**
During the year we have focused on the delivery of the three-year business plan which runs from April 2022 to March 2025. As in previous business plans this looks at organisational ambitions in the key areas of prevention, intervention, and recovery, as well as the infrastructure developments
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**Thames Reach Charity Annual Report and Financial Statements 2022-23**
necessary to support these ambitions. More details are contained in our 2022-25 business plan: https://thamesreach.org.uk/business-plan-2022-25/
## **Statement of the Board’s responsibilities**
Regulations require the Board to prepare accounts for each financial year which give a true and fair view of the organisation’s state of affairs at the end of the year and of its income and expenditure for that period.
In preparing those accounts, the Board is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts;
- prepare the accounts on a going-concern basis unless it is inappropriate to presume that the organisation will continue in business.
The Board is responsible for keeping adequate accounting records that are sufficient to show and explain the organisation’s transactions and which disclose with reasonable accuracy at any time the financial position of the organisation and to enable it to ensure that the accounts comply with the Section 151 of the Charities Act 2011 and the Companies Act 2006. It is also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Board is responsible for the maintenance and integrity of the corporate and financial information included on the organisation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Financial risk management**
Details of risks and the approach taken to mitigation are provided in the Strategic Report above.
## **Policy statement on equality, diversity and inclusion**
Thames Reach is committed to promoting equality of opportunity for employees, service users and others associated with the organisation. Through our work with homeless and vulnerable people, Thames Reach is often at the forefront of identifying and tackling social exclusion. We are committed to advocating for and speaking out on behalf of those people or groups who are experiencing disadvantage or discrimination both ‘on the ground’ when providing support to individuals, and on a local and national level to influence policy and decision makers.
This policy identifies the organisation's overall policy aims in relation to promoting equal opportunities, valuing, and celebrating diversity, and inclusion, combating discrimination and ensuring that services are as accessible as possible. Its principles underpin a wide range of operational policies and procedures.
Thames Reach is committed to:
- Equality of opportunity – This means that in the provision of services, the selection of suppliers and contractors, and the employment of staff to provide these services, the organisation aims to ensure that no-one is unfairly discriminated against due to age, disability, sex, gender, gender identity, sexual orientation, race, ethnicity, national origin, religion or belief, marital status, civil partnership, pregnancy and maternity; or type of
**Page 18**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
contract, pattern of work, responsibility for dependents; or social standing, history of homelessness or refugee status;
- Taking practical steps to identify inequality and discrimination, and address it by developing best practice;
- Complying with relevant legislation and learning from practice outside the organisation.
We believe that:
The services we provide will be enhanced by the diversity of employees, and we recognise that we need to work as an organisation and as individuals within the organisation to promote and celebrate this diversity and harness its potential to improve the services we provide.
## **Equality, Diversity and Inclusion (EDI)**
We are required to report on our Gender Pay Gap annually. This year, our data shows that our mean gender pay gap was -2.1%. This means that, on average, women are paid slightly more than men across the organisation. However, we are happy that this pay gap is minimal, and indicates that in general employees are paid equitably, regardless of gender.
As part of our commitment to EDI we also calculated the ethnicity pay gap at Thames Reach for the first time. Overall findings show that Thames Reach has an ethnicity pay gap in line with the rest of the UK. We will continue to monitor this.
## **Further Information**
More information about Thames Reach can be found on our website at www.thamesreach.org.uk or our social media channels.
## **Auditor**
Crowe were appointed by the Trustees in 2020 in accordance with section 485 of Companies Act 2006.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Board of Trustees on 27 November 2023 including in their capacity as company directors approving the Directors' and Strategic Reports contained therein, and is signed as authorised on its behalf by the Secretary.
## **Bill Tidnam**
## **Secretary and Chief Executive**
**Page 19**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF THAMES REACH CHARITY**
## **Opinion**
We have audited the financial statements of Thames Reach for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet and the Consolidated 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2023 and of the group’s incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 group 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 related to going concern**
In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'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 Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
**Page 20**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to 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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion based on the work undertaken in the course of our audit
- the information given in the Trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the Trustees’ report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- the parent company has not kept adequate accounting records; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.
**Page 21**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were GDPR, taxation legislation, health & safety legislation and employment legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and lawyer correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance, Audit and Fundraising Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, analytical procedures and sample
**Page 22**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
testing of income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Julia Poulter Senior Statutory Auditor For and on behalf of
**Crowe U.K. LLP** Statutory Auditor **London Date: 06 December 2023**
**Page 23**
## **Thames Reach Charity Annual Report and Financial Statements 2022-23**
**Consolidated Statement of financial activities for the year ended 31 March 2023**
|**Notes:**
**Income**
**Income from charitable activities**
Accommodation services
3
Support activities
4
Pathways to occupation
5
**Investment Income**
**Other Income**
**Total Income**
**Expenditure**
Cost of raising funds
Charitable activities
**Total expenditure**
**Net incoming/(outgoing) resources before**
**transfers**
Transfers between funds
**Net movement in funds**
Fund balances at 1 April 2022
**Fund balances at 31 March 2023**|**Unrestricted**
**funds**
**£**
**Group**
8,658,511
13,497,280
1,180,739
**21,084**
**108,467**
**23,466,081**
154,630
23,160,064
**23,314,694**
**151,387**
-
**151,387**
9,585,635
**9,737,022**|**Restricted**
**funds**
**£**
**Group**
10,575
51,998
174,557
**-**
**-**
**237,130**
-
377,180
**377,180**
**(140,051)**
-
**(140,051)**
6,365,550
**6,225,499**|**Total 2023**
**£**
**Group**
8,669,086
13,549,278
1,355,296
**21,084**
**108,467**
**23,703,211**
154,630
23,537,244
**23,691,874**
**11,336**
-
**11,336**
15,951,185
**15,962,521**|**Total 2022**
**£**
**Group**
9,091,077
11,581,446
1,416,312
**384**
**5,432**|
|---|---|---|---|---|
|||||**22,094,651**|
|||||157,114
22,083,630|
|||||**22,240,744**|
|||||**(146,093)**
-|
|||||**(146,093)**
16,097,278
**15,951,185**|
None of the activities of the organisation were acquired or discontinued during the financial year. The organisation has recognised no gains or losses other than those dealt with above.
**Page 24**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Balance sheet at 31 March 2023**
|**Notes:**
**Non-current Assets**
Tangible Assets
10
**Current assets**
Debtors
11
Stock
Cash at bank and in hand
**Creditors:**amounts falling due within one
year
12
Net current assets
**Total assets less current liabilities**
**Creditors:**amounts falling due after more
than one year
**Provision for liabilities**
19
**Total assets less total liabilities, being net**
**assets**
16
**Funds**
Restricted funds
15
Unrestricted funds
Designated funds
16
General funds
**Total Restricted and Unrestricted funds**|**Group**
**2023**
**£**
12,671,550
**12,671,550**
3,566,141
41,465
6,171,658|**Group**
**2022**
**£**
13,015,290
**13,015,290**
4,145,938
22,283
5,708,354
**9,876,575**
(5,866,737)
4,009,838
**17,025,128**
**(823,687)**
**(250,256)**
**15,951,184**
6,365,550
8,094,702
1,490,933
**15,951,185**|**Charity**
**2023**
**£**
12,671,550
**12,671,550**
3,571,141
41,465
6,166,658
**9,779,264**
(5,314,606
)
4,464,658
**17,136,208**
**(823,687)**
**(350,000)**
**15,962,521**
6,225,499
8,132,249
1,604,773
**15,962,521**|**Charity**
**2022**
**£**
13,015,290|
|---|---|---|---|---|
|||||**13,015,290**
4,150,938
22,283
5,703,354|
||**9,779,264**
(5,314,606)
4,464,658
**17,136,208**
**(823,687)**
**(350,000)**
**15,962,521**
6,225,499
8,132,249
1,604,773
**15,962,521**|||**9,876,575**
(5,866,737)
4,009,838|
|||||**17,025,128**
**(823,687)**
**(250,256)**|
|||||**15,951,184**|
|||||6,365,550
8,094,702
1,490,933
**15,951,185**|
These financial statements were approved by the Board on 27 November 2023 and authorised for issue and were signed on its behalf by:
S. Howard Chair
V. Haq Treasurer
**Page 25**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Cash flow statement for the year ended 31 March 2023**
|**ash flow statement for the year ended 31 March 2023**|||
|---|---|---|
|**Net cash inflow from operating activities**
**Capital expenditure and financial investments**
Payments to acquire tangible fixed assets
Proceeds on disposal of Investment
**Cash inflow from financing activities**
**(Decrease)/Increase in cash**
**Reconciliation to changes in resources**
Net income before transfers
Loss on assets written off
Depreciation of tangible fixed assets
Increase/(Decrease) in provisions
(Increase)/Decrease in Stock
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
**Net cash inflow from financing activities**
Long-term loan
**Reconciliation of net cash flow**
(Decrease)/Increase in cash
Balance at 1 April 2022
**Balance at 31 March 2023**|**Group**
**2023**
**£**
**479,836**
(16,532)
-
**-**
463,304
11,336
3,698
356,574
99,744
(19,182)
579,797
(552,131)
**479,836**
-
463,304
5,708,354
**6,171,658**|**Group**
**2022**
**£**
**823,648**|
|||(23,947)
-
**-**
799,701
(146,093)
5,000
370,110
141,356
(22,283)
(487,769)
963,327|
|||**823,648**|
|||-
799,701
4,908,653
**5,708,354**|
**Page 26**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Notes to the financial statements for the year ended 31 March 2023**
## **1. General Information**
Thames Reach Charity, operating as Thames Reach, is a charity registered in England and Wales number 1166311 and a company limited by guarantee number 10098652. The principal address and registered office is Employment Academy, 29 Peckham Road, London, SE5 8UA.
## **2. Accounting policies**
- **a) Basis of preparation**
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 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Thames Reach 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(s).
## **b) Basis of consolidation**
The group financial statements consolidate the financial statements of Thames Reach Charity Limited and Thames Reach Housing drawn up to 31 March each year. No profit and loss account is presented for Thames Reach Charity Limited as permitted by section 408 of the Companies Act 2006. Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.
- **c) Judgements in applying accounting policies and key sources of estimation uncertainty**
When preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual future results could differ from such estimates.
The depreciation of the components of Thames Reach's housing properties have been made using a matrix provided by Savills and applied to properties purchased.
The initial key assumption on the transfer of Deptford Reach was a valuation of £1. There has now been a change in estimation of value having received a full valuation from surveyors. This has increased the carrying amounts of assets and corresponding reserve.
- **d) Income**
Grants, charges, material donations and Supporting People funding are recognised in the period in which they are receivable. Supporting People and rental charges are stated net of voids. Smaller donations and bank interest received are recognised on receipt.
Income which is specifically for the performance of the main service of the organisation is analysed as “income from charitable activities”.
**Page 27**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
Grants for the purchase of fixed assets (equipment and furniture) are treated as restricted funds. The assets purchased are capitalised and the depreciation of these assets is allocated to the restricted fund on a yearly basis thereby reducing the restricted fund to nil over the same period as the asset.
## **e) Expenditure**
Expenditure is recognised on an accruals basis. Salary and other costs expended in directly providing the main services of the organisation are analysed as “charitable activities”.
Other support costs are allocated to “charitable activities” or “cost of raising funds” on the basis of the estimated employee time spent on each area.
Governance costs comprise those costs relating to compliance with constitutional and statutory requirements, Board expenses and other costs of strategic development.
## **f) Tangible fixed assets and depreciation**
Assets over £2,000 are capitalised. Tangible fixed assets other than freehold land and assets under construction are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment 4 years Motor vehicles 5 years
Freehold and leasehold buildings purchased prior to 31st March 2018 are depreciated over 50 years. Thames Reach now separately identifies the major components of its housing properties and charges depreciation so as to write-down the cost of each component to its estimated residual value, on a straight line basis over the length of the lease or the following years.
|years.||
|---|---|
|Land|Nil|
|Main fabric|100 years|
|Roof structure and coverings|70 years|
|Windows and external doors|30 years|
|Boilers|15 years|
|Kitchen|20 years|
|Bathrooms|30 years|
|Mechanical systems (heating, plumbing)|30 years|
|Electrics|40 years|
|Lift|20 years|
## **g) Pensions**
The pension costs charged in the financial statements represent the contributions payable by the organisation during the year to the defined contribution scheme.
## **h) Accumulated Funds**
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Designated funds comprise funds which have been set aside at the discretion of the Board for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
**Page 28**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **3. Accommodation services**
|Support services
Rental income
Other income
**4. Support activities**
London Councils
Support contracts
GLA
Health Commission
London Borough of Lambeth
London Borough of Hackney
London Borough of Hammersmith
and Fulham
London Borough of Haringey
London Borough of Brent
London Borough of Enfield
London Borough of Newham
Trusts and foundations
Other income
Donations|**Unrestricted**
**funds**
**£**
3,783,200
4,682,981
192,330
**8,658,511**
**Unrestricted**
**funds**
**£**
235,693
269,432
4,663,591
2,165,312
921,772
1,023,972
369,206
244,537
875,078
-
-
1,188
2,442,046
285,453
**13,497,280**|**Restricted**
**funds**
**£**
-
-
10,575
**10,575**
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
-
36,953
-
15,045
**51,998**|**Total 2023**
**£**
**3,783,200**
**4,682,981**
**202,905**
**8,669,086**
**Total 2023**
**£**
**235,693**
**269,432**
**4,663,591**
**2,165,312**
**921,772**
**1,023,972**
**369,206**
**244,537**
**875,078**
**-**
**-**
**38,141**
**2,442,046**
**300,498**
**13,549,278**|**Total 2022**
**£**
3,953,119
4,419,640
718,318
9,091,077
**Total 2022**
**£**
397,235
253,000
6,296,339
-
435,794
611,593
113,609
207,480
828,583
77,924
184,299
160,058
1,779,192
236,340
11,581,446|
|---|---|---|---|---|
**Page 29**
## **Thames Reach Charity Annual Report and Financial Statements 2022-23**
|**By activity**
London Councils
Support contracts
GLA
Health Commission
London Borough of
Hammersmith and Fulham
London Borough of Hackney
London Borough of Newham
London Borough of Haringey
London Borough of Brent
London Borough of Enfield
London Borough of Lambeth
Trusts and foundations
Other Income
Donations|**Accommodation**
**/ Community**
**Support**
**£**
-
-
-
2,165,312
-
613,183
-
-
875,078
-
390,176
36,741
32,496
285,453
**4,398,439**|**Outreach**
**£**
235,693
269,432
-
-
369,206
410,789
-
244,537
-
-
531,596
1,400
2,409,550
15,045
**4,487,248**|**Tenancy**
**Sustainment**
**£**
-
-
4,663,591
-
-
-
-
-
-
-
-
-
-
-
**4,663,591**|**Total 2023**
**£**
**235,693**
**269,432**
**4,663,591**
**2,165,312**
**369,206**
**1,023,972**
**-**
**244,537**
**875,078**
**921,772**
**38,141**
**2,442,046**
**300,498**
**13,549,278**|**Total 2022**
**£**
397,235
253,000
6,296,339
-
113,608
611,592
184,299
207,480
828,583
77,924
435,794
160,057
1,779,192
236,343
11,581,446|
|---|---|---|---|---|---|
**5. Pathways to occupation**
|London Borough of Southwark
London Borough of Lambeth
London Borough of Lewisham
Trusts and foundations
Donations
Other income
**Total Expenditure**
Costs of raising funds
Charitable activities
Accommodation
Support Activities
Pathways to occupation
Total 2022|**General**
**funds**
**£**
163,002
196,304
336,597
-
-
484,836
**1,180,739**
**Staff Costs**
**£**
131,169
4,719,114
9,327,428
1,249,524
15,296,066
**15,427,235**
14,324,940|**Restricted**
**funds**
**£**
-
-
-
80,685
93,872
-
**174,557**
**Other Costs**
**£**
23,461
4,037,220
3,515,998
687,960
8,241,178
**8,264,639**
7,915,805|**Total 2023**
**£**
**163,002**
**196,304**
**336,597**
**80,685**
**93,872**
**484,836**
**1,355,296**
**Total 2023**
**£**
**154,630**
**8,756,334**
**12,843,426**
**1,937,484**
**23,537,244**
**23,691,874**
**22,240,745**|**Total 2022**
**£**
134,728
267,215
89,155
266,108
473
658,633
1,416,312
**Total 2022**
**£**
157,114
7,140,509
11,205,152
3,737,969|
|---|---|---|---|---|
|||||22,083,630|
|||||**22,240,744**|
||||||
## **6. Total Expenditure**
**Page 30**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **Total Expenditure (continued)**
|**Analysis of Governance and support costs**
**Support Costs**
Employee training and recruitment
Rent and service charges
IT support and equipment
Travel costs
Partnership contracts
Property costs
Insurance
Telephone and communication costs
Printing, postage, stationery and publicity
Food
Legal and professional
Tenants’ and clients’ welfare
RSL management and maintenance
Other direct costs
Governance Costs
Audit fee|**Total 2023**
**£**
372,242
542,236
672,947
307,694
149,905
2,464,694
251,952
256,981
53,631
115,952
369,081
1,034,143
935,721
703,320
**8,233,499**
31,140
**8,264,639**|**Total 2022**
**£**
226,240
604,743
745,860
260,167
549,742
1,883,519
265,993
247,777
27,334
110,637
163,578
1,055,311
1,019,888
719,303|
|---|---|---|
|||**7,880,092**
35,713
**7,915,805**|
Other direct costs include cost of furniture and depreciation.
## **7. Board & Senior Management Team**
None of the non-executive Board members (or any persons connected with them) received any remuneration or benefits from the organisation during the year.
The key management personnel of the association comprises the senior management team who received remuneration of £378,256 (2022: £314,049).
Remuneration for Bill Tidnam, Chief Executive was £115,811, comprising salary of £97,106 plus 6.5% Employer pension contribution and Employer National Insurance contribution (2021/22:£115,811)
The ratio between the Chief Executive salary and Thames Reach trainees and apprentices is 4.5:1. Senior salaries (members of the organisation’s Senior Management and Leadership Teams) are benchmarked against similar roles in competitor charities at the point of recruitment, with this process overseen by the Governance and People sub-Committee.
**Page 31**
## **Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **8. Employees**
|**Average monthly number of employees (Headcount) during the year**
**Average monthly number of employees (Full time equivalent) during the year)**
Housing and project services
Fundraising and publicity
**Analysis of staffing costs**
Wages and salaries
Social security costs
Other pension costs
Agency, relief and volunteer costs||**2023**
**Number**
420
376
2
**378**
**2023**
**£**
11,821,529
1,254,977
732,519
1,654,268
**15,463,293**||**2022**
**Number**
415
360
2
362
**2022**
**£**
11,018,709
1,062,106
693,554
1,551,382
14,325,751|
|---|---|---|---|---|
The total amount of redundancy payments awarded in the year is £13,082 (2022: £4,638). Settlement agreements totalled £12,370 in year 2023 (2022: £27,500).
The number of employees whose annual emoluments were over £60,000 (excluding Employers’ NI and 6.5% Pension contribution) were:
|£90,001-100,000
£80,001-90,000
£70,001-80,000
£60,001-70,000|**2023**
1
1
1
1
4|**2022**
1
1
1
-
3|
|---|---|---|
## **9. Taxation**
The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
**Page 32**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **10. Tangible fixed assets**
|**Charity**
**Cost**
At 1 April 2022
Additions
Disposals
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Charge for the year
Disposals
**At 31 March 2023**
**Net book value**
**At 31 March 2023**
At 31 March 2022
**Group**
**Cost**
At 1 April 2022
Additions
Disposals
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Charge for the year
Disposals
**At 31 March 2023**
**Net book value**
**At 31 March 2023**
At 31 March 2022|**Freehold and**
**Leasehold**
**property**
**£**
15,346,494
8,250
(1,080)
15,353,664
2,427,181
303,708
(236)
2,730,653
**12,623,011**
12,919,313
**Freehold**
**and**
**Leasehold**
**property**
**£**
15,346,494
8,250
(1,080)
15,353,664
2,427,181
303,708
(236)
2,730,653
**12,623,011**
12,919,313|**Furniture,**
**fittings,**
**equipment &**
**motor**
**vehicles**
**£**
975,609
8,282
(194,238)
789,653
879,632
52,867
(191,385)
741,114
**48,539**
95,977
**Furniture,**
**fittings,**
**equipment &**
**motor vehicles**
**£**
975,609
8,282
(194,238)
741,114
879,632
52,867
(191,385)
741,114
**48,539**
95,977||**Total**
**£**
16,322,103
16,532
(195,318)|
|---|---|---|---|---|
|||||**16,143,317**|
|||||3,306,813
356,575
(191,621)|
|||||**3,471,767**|
|||||**12,671,550**
13,015,290
**Total**
**£**
16,322,103
16,532
(195,318)
**16,143,317**
3,306,813
356,575
(191,621)
**3,471,767**
**12,671,550**
13,015,290|
||||||
||||||
||||||
||||||
**Page 33**
## **Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **11. Debtors**
|Charges and grants receivable
Rent arrears
Inter-company receivables
Other debtors|**Group**
**2023**
**£**
2,844,202
272,500
-
449,439
**3,566,141**|**Group**
**2022**
**£**
2,531,051
501,915
-
1,112,972
4,145,938|**Charity**
**2023**
**£**
2,844,202
272,500
5,000
449,439
**3,571,141**|**Charity**
**2022**
**£**
2,531,051
501,915
5,000
1,112,972
4,150,938|
|---|---|---|---|---|
## **12. Creditors: amounts falling due within one year**
|Trade creditors
Taxes and social security cost
Grants in advance
Other creditors|**Group**
**2023**
**£**
585,575
297,566
3,528,348
903,117
5,314,606|**Group**
**2022**
**£**
650,007
333,067
4,057,663
826,000
5,866,737|**Charity**
**2023**
**£**
585,575
297,566
3,528,348
903,117
5,314,606|**Charity**
**2022**
**£**
650,007
333,067
4,057,663
826,000
5,866,737|
|---|---|---|---|---|
## **13. Pension costs**
Thames Reach contributes to a defined contribution scheme for employees. Contributions payable to the scheme for the year were £732,519 (2022: £693,554 ).
## **14. Related Parties**
There were no related party transactions made during the year.
**Page 34**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **15. Restricted funds**
The income funds of the organisation include restricted funds comprising the following balances of donations and grants held on trust for specific purposes:
|Capital Fund – Employment
Academy
Capital Fund – Robertson Street
Hostel
Hilary Stent Fund
London Councils funded
outreach team
Capital fund for BRiL
Trust funded Health projects
Safe Connections funding
Lambeth funding
Deptford Reach property
Other Restricted funding|**Balance at 1**
**April 2022**
**£**
3,268,758
1,276,719
11,274
31,923
541,207
260,535
50,969
88,240
835,925
-
6,365,550|**Income**
**2023**
**£**
-
-
1,275
-
-
-
-
-
-
235,855
237,130|**Expenditure**
**2023**
**£**
(84,181)
(38,545)
-
-
(4,764)
-
(7,818)
-
(17,786)
(224,087)
(377,181)|**Transfers**
**in funds**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-
-|**Balance at**
**31 March**
**2023**
**£**
3,184,577
1,238,174
12,549
31,923
536,443
260,535
43,151
88,240
818,139
11,768
**6,225,499**|
|---|---|---|---|---|---|
Capital Fund – Employment Academy: This restricted income has been used for the purchase and refurbishment of Thames Reach Employment Academy and is being depreciated as per accounting policy 2f.
Capital Fund – Robertson Street: This restricted income has been used for the refurbishment of Robertson Street Hostel which is due to be transferred to a new registered provider Thames Reach Housing from Paragon Asra around September/October 2023.
Hilary Stent Fund: The fund represents donations received for the annual awards to clients of Thames Reach making a significant change in their lives.
London Councils funded outreach team: This fund is restricted for our Sustainment Tenancy and Resettlement team.
Capital Fund for BRiL Flats: This fund was used to buy properties for the Resettlement and Brokerage project in Lambeth and is being depreciated as per accounting policy 2f.
NHS Trust funded Health Projects: This fund shows the monies received for the Living Well Network and IPSA projects funded via Lambeth CCG, Lambeth Council and the Guys and St Thomas Charity.
Safe Connections Fund: The GLA have funded a project to provide Safe Connections for people who have slept on the streets.
Lambeth Funding: funding for our Lambeth Offenders’ Team.
Deptford Reach property: This represents the property value and is written down as per accounting policy 2f.
Other Restricted Funds: this is funding for posts at our hostels and other projects.
**Page 35**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **16. Designated funds**
The income funds of the organisation include the following designated funds which have been set aside out of unrestricted funds by the Board for specific purposes:
|Functional Fixed Assets Reserve
Office leases
Repairs and maintenance
Sinking Fund
Staff
IT and infrastructure
Vital Regeneration
Deptford Reach building fund
New Business Development|**Balance at 1**
**April 2022**
**£**
6,471,566
28,261
-
642,560
204,814
10,527
246,631
18,343
472,000
8,094,702|**Income**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-|**Expenditure**
**2023**
**£**
-
-
-
(8,810)
-
-
-
-
(19,258)
(28,068)|**Transfers**
**in funds**
**2023**
**£**
-
-
-
65,615
-
-
-
-
-
65,615|**Balance at**
**31 March**
**2023**
**£**
6,471,566
28,261
-
699,365
204,814
10,527
246,631
18,343
452,742
8,132,249|
|---|---|---|---|---|---|
Furniture and Equipment: this fund enables Thames Reach to operate a rolling five year programme of furniture and equipment replacement for our hostels and accommodation projects.
Office Leases: This fund is to provide for office relocation and set up. We currently have office premises in in Brent, Croydon, Hackney, Hammersmith and Redhill.
Repairs and Maintenance: This fund enables the Association to meet repairing and maintaining obligations in relation to properties we manage on behalf of registered providers and in relation to leased and owned properties of Thames Reach.
Sinking Fund: This fund is for major repairs to the fabric of buildings we own: Thames Reach Employment Academy, Elmfield and Hudson House.
Staff: This fund is for non-budgeted costs required to meet contractual obligations such as maternity/parental leave and redundancy.
Vital Regeneration: Thames Reach has taken over the subsidiary and this amount represents the reserves on transfer. These funds are designated to continue to work to design and deliver innovative, sustainable programmes that enable individuals and communities to fulfil their potential through learning, employment and enterprise.
Deptford Reach Building fund: this was received as part of the acquisition of Deptford Reach. It is an amount from the COIF General Account(a charity high interest saving account) and has been designated as the building fund for the future maintenance of the property.
New Business Development: this is to fund any new opportunities due to quickly changing funding circumstances and during the last year we used these funds to appoint Lead-in managers for new projects
**Page 36**
**Thames Reach Charity Annual Report and Financial Statements 2022-23**
## **17. Analysis of net assets between funds**
|Fund balances at 31 March 2023 are
represented by:
Tangible fixed assets
Current assets
Non-Current liabilities
Creditors: amounts falling due within one year
Provisions for Liabilities
As at 31 March 2022|**Unrestricted**
**funds**
**£**
6,894,217
9,331,098
(823,687)
(5,314,606)
(350,000)
9,737,022
9,585,635|**Restricted**
**funds**
**£**
5,777,333
448,165
-
-
-
6,225,498
6,365,550|**Total**
**£**
12,671,550
9,779,263
(823,687)
(5,314,606)
(350,000)|
|---|---|---|---|
||||**15,962,520**|
||||15,951,185|
## **18. Contingencies and commitments**
## **Commitments under operating leases**
At 31 March 2023 the organisation had annual commitments under non-cancellable operating leases as follows:
|Expiry date:
Within one year
Between two and five years
In over five years|**2023**
**Land and**
**buildings**
**£**
146,299
146,299
-
292,598|**2023**
**Other**
**£**
-
-
-
-|**2022**
**Land and**
**buildings**
**£**
156,019
292,598
-
448,617|**2022**
**Other**
**£**
5,043
-
-
5,043|
|---|---|---|---|---|
## **19. Subsidiary**
At 31 March 2023 the charity had one subsidiary, Thames Reach Housing, which has not yet begun trading.
## **20. Provisions**
This is a provision against future major furniture and equipment replacement.
||**£**|
|---|---|
|**Balance as at 31st March 2022**|**250,256**|
|Movement in Year|99,744|
|**Balance as at 31st March 2023**|**350,000**|
## **21. Post Balance Sheet Event**
On 1st October 2023 the charity received £1m for the sale of Deptford Reach, a building previously owned by the charity.
**Page 37**