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2023-03-31-accounts

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Charity registration number 1171529

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs G Prashar
Mr S Spence
Mr W Beecroft
Mr A Glen
Senior Management Team J Flynn
D Jowitt
P Atkinson
Charity number 1171529
Principal address Unit 2A
Barras Garth Road
Leeds
LS12 4JW
Registered office Unit 2A
Barras Garth Road
Leeds
LS12 4JW
Auditor Alison Whalley FCA
Azets Audit Services
Carlton House
Grammar School Street
Bradford
BD1 4NS
Bankers Unity Trust Bank Plc
Birmingham
B1 2HB

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AXIS SUPPORTED LIVING

CONTENTS

Page
Trustees' report 1 - 5
Statement of trustees' responsibilities 6
Independent auditor's report 7 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 20

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [foundation], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objectives of the charity are to enable individuals who have been subject to National Probation Service (NPS) Supervision who have served substantial or repeated Custodial Sentences to:-

Our Mission Statement

We aim to support our service users on their journey to independent living, build their confidence, life skills, self-belief and motivation

By providing single occupancy, well maintained accommodation; committed, skilled support workers; flexible, tailored support plans

To National Probation Service Clients assessed as high risk of harm who have served repeated or long sentence and now demonstrate the motivation to change their future

During this accounting period the organisation's policies and objectives have focussed on:-

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Lack of appropriate and affordable accommodation with accessible support is recognised as a significant contributory factor to individuals being unable to exit the ‘revolving door’ of prison and homelessness. This continues to be exacerbated by changes to the Benefits system and cuts to government funding across the board. This has resulted in private landlords, letting agents and current housing providers being increasingly reluctant to offer accommodation to those with criminal records, categorised as ‘high risk’ and/or those claiming Benefits. The current recognised housing crisis both in Leeds and nationwide has highlighted even further the need for such a scheme as Local Authorities rely increasingly on Private Rent Landlords to step in where LHA accommodation is in short supply.

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AXIS SUPPORTED LIVING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Support Services

Support Staff continue to provide individually tailored support plans and encourage Service User involvement at all stages, enabling support to be delivered in a structured but flexible way and can react to changing risks, needs and goals of Service Users, therefore support remains relevant and encourages positive progress whilst addressing risk issues at the earliest opportunity.

All new Service Users receive a starter pack including a full set of new bedding, duvet and pillows; crockery, cutlery, kettle, toaster and pans and a food parcel from a food bank if required as many have nothing more than the clothes they stand up in when they are released from custody. During this financial period a microwave has been put in all properties to enable cheaper cooking facilities to help to manage the rise in fuel bills. Service Users receive assistance setting up their initial utility suppliers and encouragement to persist in getting issues resolved, setting up suitable payment plans for their gas, electricity and water supplies or having pre-pay meters installed if appropriate. Support Workers also ensure Service Users are on a Water Meter where possible and if not are put on Yorkshire Water’s Assessed Tariff so everyone is paying the lowest price possible for their utilities, as the cost of cost of living continues to rise sharply. Applications are also made to Trust Funds for outstanding debts to be written off where appropriate. Support Worker presence helps prevent Service Users from feeling overwhelmed or powerless in the face of large organisations, which often leads to them giving up and avoiding dealing with bills and debts at all.

As Service Users establish their stable address and Debt Recovery Agencies pursue previous outstanding debt, our support gives Service Users confidence to tackle debt as well as help understanding and claiming any additional help the Government has put in place, resulting in better long-term outcomes.

Many of our Service Users do not have access to computers either due to low income, PPU restrictions or the knowledge and confidence to use computers. Laptops provided to all Support Workers during the previous financial year, for use with Service Users in their homes during their Support Sessions have proved to be invaluable during weekly support sessions providing the means, equipment and confidence for all our Service Users to bid regularly on Leeds Homes accounts and search for move on accommodation. When Service Users are ready to move on from Axis SL, Support Workers provide guidance and practical help with finding affordable furniture, white goods, transport and contacting utility companies, resulting in Service Users settling into their Local Authority tenancies more quickly and successfully, as there is no support given by LCC Senior Management and Trustees continue to provide outreach support to bridge the transition into independent tenancies despite no funding being available for this and this remains a challenge for the future.

Financial review

The results of the year to 31 March 2023 are set out in the Statement of Financial Activities.

Incoming resources excluding investment income totalled £933,120 (2022: £951,141) from a portfolio of 78 properties. Using this as a benchmark going forwards will give a good indication of the financial success of the charity.

Expenditure is £987,187 (2022: £947,193). It is hoped that through improved relations with the local authority and landlords that expenditure will become more efficient.

Overall the charity had a deficit of £54,067 (2022: £3,948) in the period.

The charity is able to meet its financial commitments such as landlords' rents, salaries and overhead costs from the working capital of the charity.

The assets and liabilities of the charity as of 31 March 2023 are set out in the balance sheet.

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AXIS SUPPORTED LIVING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

The Trustees expect that the ongoing Government Policy on ‘Living with Covid 19’ will continue to have minimal impact on the CIO due to funding remaining guaranteed and stable. Furthermore, all activities are being maintained with safety measures in place and Government Guidance maintained at every stage.

For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Reserves Policy

Income Generation/Fundraising activities

Principal Risks and Uncertainties

Plans for future periods

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AXIS SUPPORTED LIVING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

The charity is a Charitable Incorporated Organisation by guarantee registered on 8 February 2017, registration number 1171529 registered in England and Wales.

The Constitution and Objects of the organisation states the purpose of the Charity as:

“for the public benefit the relief of those in need because of youth, age, ill-health, disability, financial hardship or other disadvantage in particular by:-

Over the 2022-23 accounting period the Board of Trustees has remained consistent with the exception of one Trustee who resigned in January 2023 due to work commitments taking him away from the local area and recruitment of a replacement is underway. The Board of Trustees continue to delegate their powers for day-to-day management of the CIO to a Senior Management Team (SMT) which has remained stable throughout this period.

The Trustees confirm that when developing and reviewing the Charity’s activities, policies and devising future plans they have referred to the Charity Commission’s general guidance on public benefit and complied with their duties under current legislation.

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs G Prashar

Mr R Craven (Resigned 28 February 2023) Mr S Spence Mr W Beecroft Mr A Glen

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Trustees are recruited through the Reach Volunteering website which is a nationally recognised site for such appointments. Applicants supply their CV's and have a phone interview followed by a face to face meeting with other Trustees. If suitable they are invited to the next Trustee meeting and voted onto the Board at that point. The term of appointment is 4 years which is detailed in the Constitution. The new Trustees undergo ID verification and sign the Trustee Eligibility Declaration form and an Auto Disqualification Declaration with guidance supplied.

At present charity does not have a set of policies and procedures that relate specifically to Trustees induction and training.

Trustees receive all documents in accordance with Constitution and Charity Commission rules which are CC3 Essential Trustee Guidelines; CIO Constitution; Minutes of the previous Trustee meeting and last set of signed Financial Statements and in Aug 2021 Charity conducted a skills audit of all Trustees to assess the strengths and weaknesses of the Board of Trustees.

Our Senior Management Team had their pay reviewed in July 2020 by our then HR specialist Trustee who conducted a thorough Benchmarking exercise using Industry equivalent posts and also looked at performance measures across the period of setting up of the Charity over the previous 3 years for each of the 3 SMT members and an appropriate rate was agreed by the Board of Trustees. SMT salaries are currently subject to the annual pay rise which reflects any annual funding increase approved by our funders in line with all other staff in the organisation.

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AXIS SUPPORTED LIVING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Auditor

During the year the Azets Audit Services Limited, trading as Azets Audit Services Limited were appointed as auditors following their acquisition of Naylor Wintersgill Limited, on 1 May 2023.

A resolution proposing that Azets Audit Services Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mr W Beecroft Trustee

25 July 2023

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AXIS SUPPORTED LIVING

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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AXIS SUPPORTED LIVING

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AXIS SUPPORTED LIVING

Opinion

We have audited the financial statements of Axis Supported Living (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows 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:

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

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AXIS SUPPORTED LIVING

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF AXIS SUPPORTED LIVING

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// 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 design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Other matters

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AXIS SUPPORTED LIVING

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF AXIS SUPPORTED LIVING

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Whalley (Senior Statutory Auditor) for and on behalf of Azets Audit Services

25 July 2023

Chartered Accountants Statutory Auditor

Carlton House Grammar School Street Bradford BD1 4NS

Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Charitable activities 3 932,605 950,860
Investments 4 515 281
Total income 933,120 951,141
Expenditure on:
Charitable activities 5 987,187 947,193
Net (expenditure)/income for the year/
Net movement in funds (54,067) 3,948
Fund balances at 1 April 2022 376,625 372,677
Fund balances at 31 March 2023 322,558 376,625

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Designated funds
13
General unrestricted funds		 2023
£
63,895
275,193
339,088
(20,467)
264,481
58,077		 £
3,937
318,621
322,558
322,558
322,558		 2022
£
47,159
340,929
388,088
(18,704)
335,000
41,625		 £
7,241
369,384
376,625
376,625
376,625

The financial statements were approved by the Trustees on 25 July 2023

Mr W Beecroft Trustee

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AXIS SUPPORTED LIVING

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
17
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
-
-
515		 £
(66,251)
515
-
(65,736)
340,929
275,193		 2022
£
(6,828)
16,306
281		 £
11,359
9,759
-
21,118
319,811
340,929

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Axis Supported Living is a Charitable Incorporated Organisation (CIO) in England and Wales. The address of the registered office is given in the charity information page of the financial statements. The nature of the charity's operations and principal activities are given on page 2 onwards.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [Foundation], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 33% Straight Line Computers 25% Straight Line Motor vehicles 25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Charitable activities

2023 2022
£ £
Housing benefit and support 911,277 926,231
Service user rent 21,328 24,629
932,605 950,860
4 Investments
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Interest receivable 515 281
5 Charitable activities
2023 2022
£ £
Staff costs 225,385 218,359
Landlord rents 498,193 488,595
Property registration fees - 150
Repairs of tenanted properties 37,571 34,755
Tenant expenses 16,039 10,476
Rates on Vacant Properties 4,900 5,089
782,088 757,424
Share of support costs (see note 6) 199,225 184,429
Share of governance costs (see note 6) 5,874 5,340
987,187 947,193

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Support costs

Staff costs
Staff training
Depreciation
Gain on disposal of
tangible fixed assets
Office rent
Repairs and renewals
Light and heat
Motor expenses
Legal and professional
Insurance
Office costs
Sundry
Accountancy
Bank charges
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
128,495
-
1,734
-
3,304
-
-
14,250
-
2,776
-
3,530
-
25,736
-
5,450
-
6,070
-
3,535
-
1,822
-
2,024
-
499
-
-
5,874
199,225
5,874
199,225
5,874		 2023
£
128,495
1,734
3,304
-
14,250
2,776
3,530
25,736
5,450
6,070
3,535
1,822
2,024
499
5,874
205,099
205,099		 Support
costs
Governance
costs
£
£
116,926
-
3,002
-
12,356
-
(13,918)
-
13,650
-
4,891
-
3,029
-
26,004
-
2,665
-
6,162
-
4,497
-
2,605
-
2,115
-
445
-
-
5,340
184,429
5,340
184,429
5,340		 2022
£
116,926
3,002
12,356
(13,918)
13,650
4,891
3,029
26,004
2,665
6,162
4,497
2,605
2,115
445
5,340
189,769
189,769

Governance costs includes payments to the auditors of £5,874 (2022- £5,340) for audit fees.

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year or prior year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
9 9

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
293,499
276,206
24,421
24,594
35,960
34,485
353,880
335,285		 (Continued)
2023
2022
£
£
293,499
276,206
24,421
24,594
35,960
34,485
353,880
335,285
335,285

During the year £2,000 was paid to one employee under a settlement agreement (2022 £nil).

The number of employees whose annual remuneration was more than £60,000 is as follows:

2023 2022
Number Number
£60,000 - £70,000 3 3

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the The charity is exempt from tax on income and gains falling within section 505 of the The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section Taxes Act 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Tangible fixed assets
Leasehold
Computers Motor vehicles		 Total
improvements
£ £ £ £
Cost
At 1 April 2022 5,085 2,349 6,828 14,262
At 31 March 2023 5,085 2,349 6,828 14,262
Depreciation and impairment
At 1 April 2022 3,437 1,876 1,708 7,021
Depreciation charged in the year 1,648 376 1,280 3,304
At 31 March 2023 5,085 2,252 2,988 10,325
Carrying amount
At 31 March 2023 - 97 3,840 3,937
At 31 March 2022 1,648 473 5,120 7,241

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 2023
£
2,738
61,157
63,895		 2022
£
-
47,159
47,159

12 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
7,471
2,802
10,194
20,467		 2022
£
7,240
2,157
9,307
18,704

13 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Transfers
Balance at
1 April 2022
£
£
Reserves Policy
315,000
315,000
Self Insurance
20,000
20,000
335,000
335,000
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
2023
2023
£
£
Fund balances at 31 March 2023 are represented
by:
Tangible assets
3,937
-
Current assets/(liabilities)
(29,001)
347,622
(25,064)
347,622		 Transfers
Balance at
31 March 2023
£
£
(70,519)
244,481
-
20,000
(70,519)
264,481
Total
Unrestricted
funds
2023
2022
£
£
3,937
7,241
318,621
34,384
322,558
41,625		 Transfers
Balance at
31 March 2023
£
£
(70,519)
244,481
-
20,000
(70,519)
264,481
Total
Unrestricted
funds
2023
2022
£
£
3,937
7,241
318,621
34,384
322,558
41,625
41,625

14 Analysis of net assets between funds

DocuSign Envelope ID: 51AE93B0-8654-4E45-AAFA-0D925136BD23

AXIS SUPPORTED LIVING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
31,037
16,731
47,768		 2022
£
68,886
46,156
115,042

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

Aggregate compensation
17
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash (absorbed by)/generated from operations
18
Analysis of changes in net funds		 2023
£
227,105
2023
£
(54,067)
(515)
-
3,304
(16,736)
1,763
(66,251)		 2022
£
208,748
2022
£
3,948
(281)
(13,918)
12,356
6,243
3,011
11,359

The charity had no debt during the year.