Charity registration number: 1190859 Balance (Support) CIO Annual Report and Financial Statements For the Year Ended 31st March 2024
Balance (Support) CIO Contents Page Charity Reference and Adminislralive Details Chair's Slatsment Trustees, Report Independent Auditor's Report 18 statement of Financial Activities 21 Balance Sheet 22 Statement of Cash Flows 23 Notes to the Financial Statements 24
Balance {Support) cio Charity Infomiation Charity registration number 1190859 Trustees M Remare2yk {Chairl l Davison L Di Bonavenlura P Henson S Kuchar N Mauger A Subburaj S Weerasinghe Chigf Executive Officer G Stevenson Registered offlce Guildhall 2 High Street Kingston upon Thames KT1 1EU Audltor UHY Ross Brooke Chartered Accountsnts ndrush Court, Abingdon Business Park Suite I, Blacklands Way Abingdon OX14 1SY Bankers The Cooperative Bank 1 St. Peters Square, Stockport, Chesire, SK1 1NX
Balance (Support) CIO Chair's Ststement For the year ended 31st March 2024 This is my first year as Chair of the Board of Trustees at Balance Support CIO. Having taken on the role in late 2023, the focus during the first weeks was on familiarising myself with the charity's present situation, its challenges but also its many opportunities and substantial potential. on getting lo know key members of staff and on visiting some of our siles where the charity provides its excellent seN1$ to its users. What made the most lasting impression on me. were the service users I was able to meet and engage with during my visits. Seeing the services we deliver through the user lens opened my eyes to the impact Balance makes on lives throughout the community. The past months have been a time of transition. Not only has the composition of the board changed, bul crucially so has the profile of services Balance provides. Whilst we concluded the Woodbury services, we look over a sizeable day service in Wandsworth which by some measures roughly doubled our operation. Balance's ability lo lake on underperforming services and transform these into viable propositions that improve delivery for users has the potential to be an exciting blueprint for the future. We know that we are excellent at running services, but now we know that we can also transform them. The charity sector is in transition, too. Rapidly increasing costs across the supply chain paired with eut$ to the public purse in most London boroughs and in fact in most of the country, have forced established providers lo seriously consider their once hypothetical exit strategies, look at creative ways to eross-subsidise belmeen services or, worse still, compromise on the quality of care. Not surprisingly Balance is affected by these trends and although we are sleadi dNersifying the portfolio, we still largely rely on one single funding source, the Royal Borough of Kingston IRBKI. 2024 has seen a slight decrease in income from 2023 and reduction of unrestricted reserves. Looking ahead, with the integration of our Wandsworth service, we will see a substantial increase in revenue. Vvhilst this is of course positive, profitability will remain a key concern. Working even closer with our partners al RBK and communicating the case for more funding will be a central Challenge of the coming year. l am grateful to our highly committed team as well as volunteers who are so dedicated to the wellbeing of our users. We are a people business and without you, 8alance couldn't possibly serve the communities we support. The trustees and I recognise the immensely positive contribution of Guy Stevenson. our CEO, on the development of the charity. His leadership together with his experience and substantial body of knowledge of the tertiary sector are a true asset to the harity. Emma Whitehead and Onyekwere Ogueri together with the wider management learn, loo, deserve acknowledgement for their hard work and domain competence. I would also like to call out the contribution trustees make. As volunteers, trustees not only dedicate their time, they inject skills across a range of disciplines lo advise the board and CEO. Lastly and importantly. I thank our users and families for their trust, feedback and confidence in us as their daily partners. ned arcin Rema Chair of the B rd of Trustees Date 241h October 2024
Balan (Support) cio Trustees. Report For the year ended 31st March 2024 The trustees present their report and the audited financial slalemenls of the charity for the year ended 3151 March 2024. The Iruslees have adopted the provisions of the Statement of Re¢ommended Pracliee ISORPI "Accounting and Reporting by Charities" In preparing the annual report and financial statements of the charty. The financial statements have been prepared in aceordance with the accounting policie5 set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appSicable in the UK and Republic of Ireland published in October 2019. Structure, governance and management Constitution The Charity is registered with the Charity Commission as a Charitable Incorporated Organisalion and its governing document 15 its constitution. The charity was formerly operating as a CIC and the process of converting lo a charity was completed on 14 August 2020. when we were rIstered with the Charity Commission. Trustee$ of the charlty The trustees who have served during the year and since the year end were as follows-. Jeanette Swan Susan Field Marcin Remarczyk Paul Henson Stefan Kuchar Neil Mauger Laura di Bonaventura lan Davidson Anjali Subburaj Sarath Weerasinghe Resigned 9th November 2023 Resigned 18th January 2024 Elected 9th November 2023 Re-elected Elected 2nd August 2023 Re-elected Elected 9th May 2023 Elected 91h May 2023 Method of appolntment or election ol trustees There have been some changes to the current 8oard of Trustees from the previous year with some new recruitments in addition to changes due to resignations and end term compliance. A new chair was also appointed lo the board following an open recruitment process and confirmation by the Iruslees. They were recruited by advertising in an appropriate medium, after considering the skills that would be required. The Board will continue to consider and identify the skills needed for the Board to operate effectively and then recruit accordingly. Poli¢ie$ and procedures adopted for the Inductlon and training of trustees All new Trustees are sent an induction pack. which gwes appropriate informats.on about the charity and the Trustee Role. They are also expected to read the guidance for Trustees available from the Charity Commission and to speak lo an appropriate member of staff if they require further information or c5arificalion. The charity through 15 partnerships with Leading Governance, NCVO and ACEVO ensure regular compliance and development training for its trustees. Organlsatlonal structure, Related partles and other charities and organisations The Board of Trustees meets quarterly to decide on matters that are the proper business of the Board, including setting the Strategy for the charity. From time lo lime a small gTQUP of Trustees may be asked to form a working paty to consider a particular aspect of management or governance and report back into the full board with recommendations. Day to day management of the charity is delegated lo the Chief Executive and Senior Management Team who are responsible lor the delivery of the strategy and who also advise and wovide information for the Board. The major risks
Balance (Support) CIO Trustees, Report For the year ended 3191 March 2024 to the OTganisalion are reviewed regularly under Ihejurisdictson of the Risk Oversight Committee, evaluated and updated as necessary, and overseen by the board of Iruslees as part of ils governance obligations. Our Values The chaTty as part of ils broader review of strategie priorities reaffirmed ils commitment to its six core values and see these as central to ils business development priorities up lo 2025. Our values shape both our commitments lo those we support, employ andlor contribute their time and knowledge to our work. They are summarised as follows.. Partnership Professionalism staff Recognition Independence Sustainability Empowerment Working effectively with other services Providing a reliable and high-quality seNice Valuing each other in our daily work Helping people to live the lives they want Protecting the future of our work Helping people to have a voice Objectives and activities Purpose and aims The charity's purpose is summarised as the folbwing-. The relief of those in need by reason ofyouth, age, ilkheath, disability, financi81 hardship or other disadvantage for the publ benefit by providing support and guidan to disadvantaged tErsons and their families, in particular. bul not limited to persons with kaming disabililieslaub.sm and those wlh mental health cOndons, by the provisB)n of accomrrodalion. support services, employment support day care and any and all such other facilities as may be required to 8nable and support them to experience fu111ng lives and whh maximEe their inVoetTnI in the community and improve their qualty of lrfe. To promote social inclusion for the public benefft by preventing peoe from ornIng swialty excluded. rdpving the needs of those peopte who are socially excluded and assists.ng them to integrate into sttiety. Objectives, strategles and activities Our primary stratggic objectives Objectivo 1 Thal we build services that are financially sustainable and resi5ient to ¢hanges in local markets. Objective 2 That our interventions are quality assured and deliver consistency across our operations and development practice. That the skills, abilities and knowledge of those who work for us or use our setvices are central to how we design the work around them. That our operation5 are scalable, targeted and approprÈate to our core business Obje¢tive 3 Objective 4
Balance (Support) cio Trustees, Report For the year ended 31st March 2024 Our key areas of service delivery There has been some change in our key areas of charitable operations since 2022123. bul the charity's areas of a¢tThiilies continue lo align with our charitable purpose and objects. Service Area Community Support Servlces Service com onent Supported Living Outreach Descri tion of Service Our Outreach service supports those with learning disabilities, mental health illness or autism living within the boroughs of Kingston, Richmond and Wandsworth to live independently in their community Our Shared Homes Service supports adults with mild lo rnoderate learning disabilities, or autism living independently with others in shared accommodation A supported employment service for people who have a learning, physical or sensory disability and who live in the boroughs of Kensington & Chelsea and Weslminsler Supported Living Houses Employment Support Servi¢¢s Supported Employment Day Opportunities Servlces Wandsworth Day Opportunitses Service Our day opportunities service is delivered from two siles in the borough. providing multi-disciplinary support to people with profound and multiple learning disabilities. Hortlcultural Services stud Nursery Our community garden offers a welcoming and supportive environment for people to learn and develop skills. The site has raised beds, polytunnels, greenhouses and a walk-in chicken coop Volunteerlng All operational departments The charity offers a range of volunteering opportunities from leading the charity as a Iruslee lo helping cullivale our horticultural space at the Stud Nurse Publlc benefit statement The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives, and in planning Ils future activities. In particular, the trustees consider how planned activities will contribute lo the aims and objectives that have been set. Our primary public benefits relate lo the development of services that support the independence of vulnerable people with learning disabilities andlor enduring mental health needs. We are responsible for the development and delivery of a range of community-based services in Southwest and Wesl London.
Balan {Support) CIO Trustees, Report For the year ended 315t March 2024 Fundraising Standards Information Fundraising activity has been limited. with the major part of OUT revenue generated through contractual sources and some monies from privately contracted seNices. Despite this, the Charity remains mindful of its obligations under the fundraising code of practice, with an undertaking to ensure the following.. That GDPR obligab"0r have been applied at all times, and that the Charty at no time has made ursolicited approaches unless express permiss(on has been granted. That the Charity is registered wlh the Fundraising Regulator and has adopted the core fundraising principles sel out by them in its Fundrai%ing Code of Practe. It has not used the servi$ of an e*(ernal agency to support our fundraising aclThiilies, but were il to do so. would require adherence lo the same nab.onal standards andlor registration with a rgnized scheme. Monitoring of our fvndraising activity during the year has not identified any practEees that could be deemed as failing to meet those same national standards. As staled above, fijndiaising development has been limited in 23124. However. as part of the Strat1¢ revEw in 2024, an Income Development Plan wll be required to address the safe and cOMlant raising of revenues in the fvlure, beyond that of our contracted 8cINity. There were no complaints in relation to our fvndratsirMJ a¢tiwlies during the year. Achievements and performance General Introduction This year has represented one of some significant change for the charity. both at an operational and governanee level. ilsl revenues fell slightly on the previous year, as the charity finally closed its complex needs residential service, we nevertheless exploited new growth areas and contractual relationships that will have a positive impact in the new financial year. The social care market remains a challenge, and as for rrK)sl providers in our sector we have worked hard during the year to maximise the value of both our contractual and private income. This has meant continued work lo drive improvements in both our quality and performance standards both as a necessity as well as a strategic priority. Trustees have remained alert to the impact that market eonslrainls will Continue to have on our development and financial performance. They have led a review ol our eorporale delivery objectives, our Key Performance Indicators for the next 18 months and their centrality in meeting our broader strategic comrnilments to quality. sustsinability and inelusion. Changes that were insliluled in 202210 generate a baseline againstwhich the charity could conttnue lo flourish have ensured we are still well placed to compete in a highly dynamic market. Consolidating that position on the basis of what has been achieved this year, will remain as important 8$ It was in the last. Perfomiance Hlghllghts There were a number of key performance highlights for the year that are likely lo shape our progress into 2024125. The charity won national recogniti foT its drive toward sound g)vernance and oterational qualty standards by being awarded the National cn¢11 for Votuntsry OrganisalK)ns- Charity Quabty Standard.
Balance (Support) cio Trustees, Report For the year ended 3151 March 2024 Vve successfulW bid fr)r admission onto three contracting frameworks in SW LOrOn, with the charity increasing ts borough-based partnerships wrth Kingston, Richmond and Wandsworth. We were identified as the preferred provider to take over Day Opportunfaes SerVe$ in the borough ofwandsworth and were awarded a contrad to commence delwery in February 2024. After 10 years of dedated leadership our Chair of Trustees Jeannette Swan stood down and the charty conducted a successful recruilmenl campaign to appoint Marcin Remarczyk as its new chair. General Performance ilsl the charity has sought to develop its core business, its strategic relationships and identify new opportunities for building our existing portfolio of services, we have also substantially consolidated our gains made over the last tsvo years. Substantially reframing our operations, our financial controls and our conlraclual relationships has enabled the charity to take posilwe steps in some remaining areas of concem for its business overall. The contractual relationship lo ddver Empbyment Supwrt SerVes as part of NHS talking therapies was termin*d in November 2023 and staff succes5ftJlly transferred lo SW London and Sl Georges NHS Trust Woodbury Residential Care SerVe. 3 years after the eXPd date ofclosure, finally shut its doors in September 2023 and all remaining tenants were lOcated lo permanent homes. This induded a rEw 2 bed 24-hour service based in Chessington forwhh we were awarded the contract unrtaIntieS related to our contract to deliver Supported Employment Serves in Kensington and Chelsea were resofved and new contracts agreed lo COV a new temi until a new tender is pxJbli$hed in 2025. Substanb"al work was undertaken as part of a transfer agreement lo take over the provision of day oPpn.eS servi5 in Wandsworth. The transferto delNer seNices to a range of individuals with complex needs eno)mpassed principalty 1kn5e resident in Wandsworth. However Contraal relats'onships with Lambeth, Merton and SW London NHS have also remained integral lo the charity's management ofoperalK)n$ on site. The new service was transferred to Balance in February 2024.
Balan¢e {Support) CIO Truste8s' Report Forthe year ended 31st March 2024 Key Perfomiance Metrics for 2023124 The following infomation sets out some of the key data relating to the charity's operational and financial performance during the year. Overall Performance Total operational highlight for the year included the following principal achievements. Total number of Individuals supported by the charity in yeor Total number individuals supported 22123 23124 There was a general uplift in performance on the previous year for most services both in absolute and relatsve terms. 300 242 250 The inclusion of new setvices in Wandsworth also accounted for a change in the operational profile from the previous year. 200 150 94 loo 85 83 A fall off in nuJnbers at our Horticultural service resulted primarily from drop in referrals after Changes lo the contracting and brokerage arrangements with the borough of Kingston. 65 47 45 50 41 26 21 K&C Supported EmpbymeDI CS Outreach CS Houses Wandsworth Day Opps Kingston Employment Support Seivice Service Total number of new referrals In year Number of new referFals with Starts Referrals for services with a higher turnover of individuals seeking support saw an increase in numbers on the previous year, reflecting the impact of changes lo our operats'ng methodology and referring personnel. • 22123 23124 180 158 166 160 140 120 Changes to our contractual relab'onships in Kingston resulted in a fall in new referrals lo our Outreach service, but for our Horticultural service a gro in private payers and an improvement in the referral pathway ensured an increase in numbers against the previous year. 100 so 73 62 41 20 li K&C Supporied Employment CS Outreach C5 Houses Wand5WOTth Day Opps Employment Support Sefvi 10
Balance (Support) CIO Trustees, Report For the year ended 3181 March 2024 Contractual Relationshlps The charity's dynamic approach to ils business development resulted in some change in its contractual relationships during the year. Contractual changes 23124 •Contr3Cts clg5ed Contratt5 Init13ted We terminated our contract with SW London Integrated Commissioning Board (SWL ICBI lo deliver Employment Support Services due to the lack of gro the financial package necessary to support our costs. We agreed a new cor)tract with the ICB lo supply support services al oui Wandsworth Day Opportunities Services. The closure of our Woodbury resldential care service Tesulled in the ending of our contractual relationship with Kingston lo supply residential care. The charity agreed a contract to deliver Day Opportunities Services with the Borough of Wandsworth. We addrtionally won admission onto the Learning Disabilities Frameworks for Richmond and Wandsworth for both Supportei Living and Community Outreach. We agreed a small contract with Lambeth to supply Day Opportunities services for a single individual at our Wandsworth operation. The charity was commissioned by the London Borough of Kingston (RBKI to deliver a new two bed community Suppor service for independent living. We also admitted on Lots with the RBK commissioning framework for learning disabilities and mental health services.
Balance (Support) CIO Trusteès, Report For the year ended 31st March 2024 Total change in the numberof employees The charity increased the number of permanent employees beeen April 2023 and March 2024 as a result of new contractual relationships and increased referrals. Change in number of employee5 2022 -24 2022123 2023124 90 80 66 The principal reason for the speed of growth was the transfer of services in Wandsworth as part of TUPE agreement for staff previously employed by another provider. 60 50 40 29 21 24 20 Full Time Part Time Total Source of referral all $ervi¢e$ Source of referral 2023124 The source of referrals lo the charity also widened as a result of changes to our conlraclual relationships. 160 140 120 loo 80 139 The largest increase was from individuals living in the borough of Wandsworth resulting from the transfer of Day Opportunities Services into its Community Support Division. This leveraged additional referral opportunities with other $our¢es as a result. 73 77 60 40 20 12 13 io 12 12
Balance (Support) CIO Trustees, Report For the year ended 31$1 March 2024 Other Performance Highlights Strengths Based Evaluation and Support The charity rolled out changes to ils evaluation and assessment methodology, wrth training and additional on-going support to ensure compliance across all ils operations Vvhilsl this has not been without challenge, learning from the first full year of its use has delivered a more robust client cenlred and slrengths-based approach lo our support. We are as a result more accountable to those using, funding and working with us lo deliveT our services in a largeled and outcomes focussed way. Completed Support Evaluations Strengths based evaluations iompleted 90 80 70 The charity applies six components lo slrenglhs-based evaluation and support tools. With the exception of our new service in Wandsworth, everyone using or newly referred into the ¢harity was supported lo work through the assessment process. 71 59 60 50 40 30 20 I415 36 37 37 39 35 21 19 What makes Good day bad me tick day Decision making agreement support planning Learning and Interest5 and refflecting CS Houses i CS Outreach i Horticulture Employment Day Opps Registered Activities for the year Total Support Aetivitles by départment 23124 54516 For the first Ilme this year the charity was able to record the number of planned support activities 11 delivers across ils commLJnity operations. Total support Interventlons for the year were 93.148. 60000 50000 40000 30000 25531 20000 9779 ioooo 430 2892 Horticultural Services Supported Employment CS Outreach CS Houses Wandsworth Day Opps 13
Balance (Support) cio Trustees, Report For the year ended 315t March 2024 Impact Evaluations Completed Total impact evaluation assesments completed 120 228 individual outcome evaluations were complete for 170 individuals across the charity. Representing 76% of those applicable to a full year evaluation in 2023124. 102 loo 80 67 60 41 40 18 20 CS House5 Ernployment Horticultural Services Outreach Outcomes Achleved Total outcomes achieved 23124 Of the 228 individual outcomes agreed with those individuals supported by the charity, 137, 480A registered positive change against the position at the beginning of the year. 37% 35% 30Y. 27% 25% 21% 20% 16% 15% loy. Achieved In full Partially èchieved Not achieved at all Not completed for ev81uètion Stsffing and Human Resources Staffing Leavers and joiners 2023124 staffing retention is generally better against regional averages with turn over for the year al 18¥0, compared to 23% regionally. 45 40 35 30 25 20 15 io 39 •Left Joined Our level of staffing grew overall with the addition of new services in Wandsworth and the transfer of 39 additional stsff into the organisation. 14
Balance (Supporti cio Trustees, Report For the year ended 3151 March 2024 Tralning Trainin8 by lype 2023124 The charity conts'nued to meet its strategic and regulatory commitments lo training and development. 6CQ 507 500 400 300 200 85 indNidual stsff (including volunteers) up to the end of the financial year completed 507 mandatory training sessions, both face to fa or on-line. loo 54 16 CPD Departmental Elective Mandatory Total completed courses by department 250 22 staff out of 56 undertook elective training as part of their professional development up to the end of January. 200 150 loo 50 A total of 547 individual courses were delivered for the year a¢r05S the organisalion. staff Performance Staff performance outcomes There were go individual objectives sel for staff at the beginning of the year. Just under 500A were completed in full. with a further 160A completed to a level 500A and above. 35% 32% 30 25% 16% 15% 12% 5% Plannine onlv Commenced Completed in Completed above tar8et E¥ceded Eypect3tw)n 15
Balance (Support) cio Trustees, Report For the year ended 31$1 March 2024 Financial Review Income for the year al £2,363,473 was 4% below that achieved for the previous year. The fall was principally accounted for by the closure our Woodbury Residential Care Service and the handing back of our ICB contract lo deliver Employment Support Services in Kingston. Further losses were mitigated by an increase in contributions on the previous year from private payers by S7. and the transfer of services in Wandsworth in quarter 4 of the financial year. The ¢hallenges experienced this year are reflected in our comparative outturn against 2022123. Finaneièl pèrformace 3gain5t previous year £3,000,000 £2,500,000 £2,000,OIKI £i,soo,000 £1,000,000 £500.000 Income Costs 8313nce 202J23 2023124 General pressures across the social care market have continued to have an impact on the charity's ability to bulld both its reserves and more general financial resilience. Establishment costs for those staff providing care and support Service increased by a further 10Yo on the previous year as 8 result of inflationary based adjustment lo the London LNing Wage. Othei disciplines a¢ross the organisation with salaries already above the London Living Wage level were awarded 4¥0 to ensure that charity remained competitive against regional benchmarks and ils competitors. However. below inflation increases in a number of our contracts only resulted in further widening of the gap beeen our costs and the level of investment we expect to receive. Trustees have taken a pragmatic position on our costs lo ensure we both retain staff, maintain our commitment to our charitable values and stay competitive in an increasingly demanding market. Reserves Pollcy The Trustees have considered the appropriate level of reserves that should be held by the Charity to provide for ffucluations in cash flow and income, working capital lo develop new funding opportunities and the other needs of the charity. They have concluded that an appropriate level of reserves would be four months running costs. They are aware that reserves currenlSy fall short of this level and are working towards creating modest surpluses overtime in order to secure the reserves at the appropriate level. The Charity holds £406,05212023= £422,091) in unrestricted reserves, and £19,281 12023: £1,171) in restricted reserves. This gives a total of £425.33312023.' £423,262) which is 1.08 months running costs which is significant decrease from March 2023 when it was 2.2 months. This is largely caused by the addition of the Wandsworth Setvice which significantly increased monthly running costs shortly before the year end. Steps continue to be taken lo improve the financial position of the charity as noted above. Going concern Challenges remain for the charity in building adequate financial resilience behind its services. We are not isolated ftom systemic issues impacting the whole of the social care sector. Budgets will continue to remain tight, and investment 16
Balance {Support) CIO Trustees, Report For the year ended 31$1 March 2024 limited by what our funders are prepared to pay, rather than fully Meeting the costs of delivering contracts on their behalf. We will continue to build revenues from those prepared to pay for our services privately, negotiate and broker investment from other statutory and non-slatulory investors, in addition lo diversifying our service offer overall. The trustees consider it appropriate for a going Concern basis lo be adopted for these aecounts. Plans for future pèriods The charity continues to build its wider presence within its communrties of operation. increasing our publi¢ fa¢ing work and building customer recognition a5 3 result Vve will build on the relationships we have already brokered to leverage further opportunities for contractual investment and increase5 in referrals to services already funded. We anticipate further development of our Social enlerpri5e-based activities in Richmond and Kingston lo drive up private revenues against the baselines delivered in 2023124. We will additionally build our public audience through our online and social media presence in addition to gtealer public facing activities and presentations lo increase brand recognition for what we do and how we do it Trustees, responsibilities The trustees aTe Tesponsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpIed Accounting Pracb'cel. The law applicable lo charities in England & Wales requires the trustees to prepare financial statements for eac financial year, which give a true and fair view of the state of affair5 of the charity, and of the incoming resources and application of resources of the charity for that period. In PTeparing these financial slatemenls. the trustees are required to.. select suitable accounting poltcies and then apply them consislenty., observe the methods and principles in the Charitses SORP 2019 IFRS 1021,. makejudgements and eslimales that are reasonable and prudent.. stale whether applicable accounts.ng standards have been followed, Subjeet to any material deparbjres disd05ed and explained in the financial stalemenls,. prepare the financial statements the going conrn basis, unle$$ i( is inappropriate to presume th* the tharty will eontinue in operab"on. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position ol the charity and enable them to ensure that the financial slalements comply with the Charities Act 2011, the Charities (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 $tep$ for the prevention and detection of fraud and other irregularities. The trustees a responsible for the maintenance and integrity of the charty and financial infomiation included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. On behalf of the board Remarczyk Ir of the Board of ustees Date.. 24th October 2024 17
Balan (Support} cio Independent Auditor's Report to the Trusteès of Balance (Support) cio For the year ended 31. March 2024 Oplnlon We have audited the financial Statements of Balance (Support} CIO for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance sheet, Cash Flow Statement and notes lo the financial statements, including a summary of signific8nl 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 statemenls.. gwe a true and fair view of the state of the thanty's affaits as al 31 Mareh 2024 and of its incoming resour and application of resources, including ts income and expenditure, for the year then ended., have been prOrty prepared In accordance with United "ngdoM Generally Accepted Accounting Practs"ce' and have been prepared in accordance wlh the requirements of the Charities Act 2011. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. OUT responsibilities under those standards are furthei described in the Auditor's re5ponsibililies for the audit of the financial statements section of our reporL We are independent of the chaiity in accoidance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical Stsndard. 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 finaneial statements, we have concluded that the Iruslees, 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 etve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are deseribed in the relevant sections of this report. other information The other information comprises the information included in the trustees annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial ststemenls 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 Ihereon. Our responsibllity Is to read the other infomiation and, in doing so. consider whether the other information is materially inconsislenl 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 misslalements, we are required to determine whether this gives rise to a material misstatement in the financial slalements 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 requlred to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulatn$ 2008 require us to report lo you if. in our opinion.. 18
Balance {Support) cio Independent Auditor's Report to th8 Trustees of Balance {Supportl CIO For the year ended 31st March 2024 the information gwen in the financial statements is inconsistent in any material respect with thelruslees. repo¢ or the charity has not kept adequate acrounting records,. or the financial statements are not in agreement with the CountIng records and retums.. or we have not reIved all the informats'on and explanats.ons we require ft)r our audi(. Responsibilities of trustees As explained more fully in the Iruslees, responsibilities statement set out on page 17, the fruslees 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 lo 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 ¢oncern, disc105ing, as applicable, matters related to going concern and using the going concern basis of accounting, unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative bul to do so. Audltor's re8ponslbilities for Ihe audit of the flnan¢Sal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in ac¢ord2nce with regulations made undei section 154 of that Act. Our objectives are lo obtain reasonab assurance about whether the financial statements as a whole are free from material misstalemenl, 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, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will aayS delecl a material misslalement when il exists. Misslalements 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. Irregularities, including fraud, are instances of non-compliance wtth laws and regulations. We design procedures in line with our responsibilities, outlined above, to delect material misslalemenls in respect of irregularities, including fraud. The specific procedures for thi5 engagement and the extent to which these are capable of detecting irregularities, including fraud. is detailed below. We have considered.. the nature of the charity and sector. control environment and operating performance; the charity's own assessment, including assessments made by key management. of Ihe risks that irregularities may occur either as a result of fraud or error., any matters we identified having reviowed the charity's policies and pro¢edures relating to.. identfying. evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance.. delecling and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., and the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.. the matters discussed amongst the audit engagement team. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisalion for fraud and idents'fied the greatest potential for fraud in the areas in which management is required to exercise significantjudgement, such as the disclosure of adjusting items. In common with all audits under ISAS IUKI, we are also required lo perform specific procedures to respond to the risk of management override_ We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the delerminab'on of material amounts and disclosures in the financial statements. The key laws and regulations we considered in thi5 eontext were the Companies Act, Charities Act and tax legislation. 19
Balan (Support) cio Independent Auditorfs Report to the Trustees of Balance {Support) cio For the year ended 31 $1 March 2024 Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities. including those leading lo a material misstatement in the financial statements or non-complian 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, a5 we will be less likely to become aware of instances of non-eompliance. The risk is also greater regarding Irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or mi51epresentalion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. s."Ilwww.frc.or .uklOur-WorkJAudiUAudit-and-assurancelStandards-and- uidancelStandards-2nd- uidance-for- auditorslAudi ors-res onsibililies-for-audiUDescri lion-of-auditors-res onsibililies-ftsr-audit.as This description forms part of our auditor's report. Use of our report This report is made Solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's Iruslees those matters we are required to slate lo them in an audilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's trustees as a body, for our audit work, for this report. OT for the opinions we have formed. UHY Ross Biooke Stalulory Auditor Wndrush Court Abingdon Business Park Abingdon OX14 1SY Date............................ UHY Ross Brooke is eligible to act as an auditor in terms of section 1212 of the Companies A¢t 2006. 20
Balance {Supporti cio statement of Financial Activlty For the year ended 31$1 March 2024 Total Unrestricted Funds 2024 Total Restricted Funds 2024 Total Funds Total Funds Notes 2024 2023 Income Donations and Grants Charitable 2clivities Investments 2,342 2,328,746 3,925 27,460 29,802 2,328,746 3,925 7,664 2,459,287 367 Total 2335013 27,460 2,362,473 2,467,318 Expendfture Charitable activities 2.351,052 9,350 2,360,402 2,380,109 Net incomel{expenditurel Transfe¥s beeen funds 16,039 18,110 2,071 87.209 Net movement In funds 18 16,039 18.110 2,071 87.209 Reconclllatlon of funds Funds brought forward 18 422,091 1,171 423,262 336.053 Fund balances carried forward 18 406,052 19.281 425,333 423.262 The Statement of Financial Activities includes all gains and losses recognised in the year Al income and expenditure is derived from eontinuing aetivities. The notes on pages 24 to 33 form part of these finaneial statements. 21
Balance (Support) cio Balance Sheet As at 318t March 2024 Notes 2024 2023 FIXED ASss Tangible assets 11 53,875 20,447 CURRENT ASSETS Debtors 12 549,086 321.845 870.931 120,547 607,025 727.572 Cash al bank alld in hand CREDITORS. Amounts falling due within one year 13 1499,4731 1324.7571 Net current assets 371,458 402.815 Total assets lesg current liabilities 425,333 423,262 Creditors . amounts falllng due after more than one year NET ASSETS 18 425,333 423,262 FUNDS Unrestricted funds General funds 17 406,052 19,281 422,091 1,171 Restricted funds 17 Totsl Funds 17 425,333 423,262 The financial statements were approved and aulhorised for issue by the Board of Trustees on 24th October 2024 and signed on their behalf by rcin Remarczy hair of the Boar of Trustees 22
Balan (Support) cio Cash Flow Statement For the year ended 31st March 2024 2024 2023 Cash flows from operating aGtivitie5 Net income per ststement of financial acts'vities 2,072 87,209 AdJustment8 for: Depreciation charges Interest receivable Loss of disposal of fixed asset Decreaselllncrease) in debtors (Decreaselllncrease in creditors Nel cash provided by operating a¢livib'es 11,878 {3,9251 772 1428.5391 174.716 1243.3261 6.973 13671 531 183,7181 128.4121 Cashflow from investing Interest received Purchase of tangible fixed assets Net cash lu$ed inl investing activities 3,925 367 14.309 113.9421 141,8541 Change in ¢a$h and cash equlvalents In the year 1285,1801 142.3541 Cash and cash equivalents brought fonvard Cash and cash equivalents carried forward 607 025 649,379 607,025 Analysis of cash and cash equivalents Cash at bank 321.845 607,025 23
Balance (Support) cio Notes to the Financial Statements For the year ended 3151 March 2024 Charlty Information Balance (Support) cio (the 'charily'l is a Charitable Incorporated Organisalion I'CIO'I, registered in England and Wales and constitutes a public benefit entity as defined by FRS 102. The address of the registered office is Guildhall 2, High Street. Kingston-upon-Thames, KT1 1 EU. Accountlng Pollcle6 1.1 Basls of preparatlon The financial statements have been prepared in accordance with the Charities SORP IFRS1021 (Second Editionl Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland leffeclive 1 January 2019}, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011 and UK Generally Accepted Accounting Pr8ctsce. The financial slalements have been prepared on the going coneern basis and under the historieal cost convention. The financial 51atemenls are presented in sterling which is the functional currency of the charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been conslstently applied lo all years presented unless olhetwise staled. 1.2 Going concern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisalion for issue of the financ1 statements. Vvhilst the closure of Woodbury continues to present challenges to the sustainability of the charity. the Trustees have taken further steps lo mitigate the impact of this. Additionally, they have considered the existing contract terms and consicjer the charity to have sufficient resources to continue lo operate for al least 12 months from the dale of these accounts. The Trustees have careftjlly considered the evidence as to whether or not the Charity continues to be a going concern and have concluded that it is. 1.3 Income recognition Items of income are recognised in the financial statements when all of the following criteria are met.. The charity has entitlement to the funds., any performance Conditions have been met or are fully within the control of the charity., there is sufficient Certainty that receipt of the income is considered probable.. and the amount can be measured reliably. Contract income from the provision of professional services is recognised as the charity earns the right to consideration through the performance of those services, when the stage of completion, costs incurred and cost5 to eompletion can be estimated reliably. No amount is included in the financial statements for volunteer lime in line with the SORP. 1.4 Expenditure recognltion Expenditure is recognised once there is a legal or constructive obligation to make payment to a third paty, it is probable that setttement will be required and the amount can be measured reliabty. Expenditure is classified under the following activty headings.. Costs of raising funds which comprise those costs associated with seeking donations and grants 24
Balance (Support) CIO Notes to the Financial Statements For the year ended 31$1 Mar¢h 2024 Expenditure on charitable activities which comprises the costs of running the various acts'vilies and services for the charity's beneficiaries. ExpenditLJre includes those costs of a direcl nature which can be allocated to a specific activity- It also includes indirect costs, including governance costs that do not relate to a specific activity but are necessary to support them. Support costs are apportioned to each activity on the basis of staff time. 1.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity,. this is normally upon notifi¢alion of the interest paid or payable by the institution with whom the funds are deposited. 1.6 Fund accounting Unrestricted general funds are those funds which are freely available for use in furtherance of the objects of the charity and which have not been designated for specific purposes. Restricted funds are fvnds which can only be used in accordance with specific reslriclions imposed by the donor or which have been raised for a particular purpose. The purposes and uses of the Teslricled funds are set out in the notes to the financial slalemenls. Investment income. gains and losses are allocated to the appropriate fund. 1.7 Flxed assets and depreciation Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciats'on is provided so as lo write off the cost of each asset over its estimated useful life at the following annual rates.. Computer equipment Other Equiprnenl, Furnitu and Fittings 4 years straight line 4 years straight line Al each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the Carrying amount exceeds the recoverable amount. 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities 1.9 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. Debtors and CTedilors with no slated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditLtre. 1.10 Leases Operating lease rentals are charged lo the Statement of Financial Activities on a straight line basis over the period of the lease. 25
Balan (Support) CIO Notes to the Financial Statements For the year ended 31sI March 2024 1.11 Penslons The Charity operates a defined contribution pension scheme. Contributions payable to the Charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate. The Charity also contributes to two defined benefit schemes for employees.. the local government pensron scheme for approximalety 13 former employees of the Royal Borough of Kingston the local government pension Scheme for approximalety 15 ft)rrrEr employees of W8ndsworth Borough Council It is not possible for the charity to obtain sufficient informab'on lo enable it to account for these schemes as a defined benefrt scheme and it therefore accounts for the scheme as a defined contribution scheme. The local authority will sel the contribution rates each year for employees. All such payments are then charged directly to the Statement of Financial Activities. 1.12 Redundancy costs Redundancy and termination costs are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Critical accountlng estlmates and judgements In the application of the charity's accounting policies, the trustees are required lo 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 eslimales and underlying assumptions a reviewed on an ongoing basis. Revisions lo ac¢ounting 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 period. Donations and Legacies Unrestricted Funds Restricted Funds Total 2024 Total 2023 Donations Grants 2,342 2,342 27,460 1,200 6.464 27.460 2,342 27,460 29.802 7,664 Income from Charitable Activitigs Unrestricted Funds Restricted Funds Total 2024 Total 2023 Contracts Woodbury Care Home Local Government Employment Local Government Supported Living Local Government HOrticUUre Local Government Day OpF)Ortunilies Local Government Transport NHS Funding South Wesl London CCG 221,468 173,259 1.078.734 123,637 383,816 54,728 129.300 221.468 173,259 1.078.734 123.637 383,618 54.728 129.300 649,677 163,796 1,104.626 173,793 162,645 other income from charitable aelNities 164,004 164.004 204,750 2,328,746 2,328.746 2,459.287 26
Balance (Support) cio Notes to the Financlal Statements For the year ended 31st March 2024 Investment Income Unrestricted Funds Restricted Funds Total 2024 Total 2023 Bank interest 3,925 3,925 367 Expendlture on Charitable Activities Direcl Costs Support Costs Totsl 2024 Total 2023 Staff costs Premises Administration Costs Residents care and welfare Transport Prof, Linge$ and subscriptions Governance Costs (see note 71 Depreciation Other costs 1,815.463 108,724 9,251 29,683 22,835 7,826 182.893 24,688 104.539 31 1,998,356 133,412 113,790 29,714 22,835 41,717 9,000 11,578 2.099,488 100,719 94,998 27,655 11,171 30,225 8,880 6,973 33,891 9.000 11,578 1,993,782 366,620 2,360,402 2.380,109 Analysls of Expenditure by Activity Direct Costs Support Costs Total 2024 Total 2023 Woodbury Supported Living Employment Service Horticultural Services Day Opportunities Other Activities 159.503 1,076,642 179.440 159.503 418,694 29,329 197,975 32.996 29,330 76,990 188.832 1,274.617 212,436 188,833 495,684 618,828 1,237,657 285.613 190.409 47,602 1.993.782 366,620 2,360,402 2,380,109 27
Balance (Support} CIO Notes to the Financial Statements For the year ended 31st March 2024 Governance costs Total 2024 Total 2023 Audit fees 9.000 8.880 9,000 8,880 Net incomellexpenditure} Net incomellexpenditurel for the year is stated after charging.. Total 2024 Total 2023 Auditor's remuneration Depreciation Operating lease rentals 9,000 11,578 59,520 8,880 6,973 43,675 Trustee Remuneratlon and expenses The trustees neither received nor waived any remuneration during the year12023.' £nil}. No Trustee received any expenses during the year12023.' £nill. 10 Stsff costs Charitable Costs Support Costs Total 2024 Total 2023 Wage5 and salaries Social security cosls Pension costs Other staff related costs Redundancy Agency Staff 1,445,244 135,145 75,464 35,682 2,903 114,030 158.433 16.713 4.716 3.031 1,603,677 151,858 80,180 38,713 2,903 114,030 1.632,506 159.093 81.426 40.196 46,017 140,250 1.808,468 182.893 1,991,361 2,099.488 One employee received total remuneration above £60,000 excluding employer's national insurance and pension costs, in the £70,000 - £80,000 band. {2023'. One in the £70,000 - £80.000 bandl 28
Balan (Support) CIO Noles to the Financial Statements Forthe year ended 31¥1 March 2024 The average number of employees analysed by fvnction was.. 2024 Number 2023 Number Direct charitable activities Management and administration 56 58 60 62 The total amount of employee benefits received by key management personnel was £83.75312021.' £83,688). UndeT FRS 102 employee benefits include gross pay, benefits in kind, employer's national insurance and employer's pension costs. 11 Tangible Fixed Assets Computor Equipmont Furnitulo and Equipment Total 2024 Total 2023 Cost At 1 April 2023 Additions Disposals 29,726 27,527 12,2641 25,377 18,251 {9,CK)31 55,103 45,778 {11,267} 73,660 14,309 132,8661 At 31 March 2024 54,989 34,625 89.614 55,103 Depreciation At 1 April 2023 In the year Eliminated on disposal 20,892 5,723 12,2641 13,764 5,855 {8,2311 34.656 11,578 {10,495} 60.019 6.973 132,3361 Al 31 March 2024 24.351 11,388 35,739 34.656 Net book value Al 31 March 2023 8.834 11,613 20,447 13,641 Al 31 March 2024 30.638 23,237 53,875 20,447 12 Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 392,138 154,911 2,037 81,969 14,860 23,718 549,086 120,547 29
Balance (Support) CIO Notes to the Financial Statements For the year ended 31°, March 2024 13 CredStors- amounts falllng due wlthln one year 2024 2023 Trade Creditors Accruals Taxation and social security Other Creditors 78,345 68.731 139.738 212.659 81,522 51,400 125,535 66,300 499.473 324,757 14 Operatlng Loase Commltments Total lulure minimum lease payments under non-cancellable operating lease5 are as follows.. 2024 2023 Due within.. 1 year 1 5 years 25,244 6.718 36,434 45,300 31,962 81,734 15 Pension and similar obligations Some of the CIO'S employees belong to the Local Government Pension Scheme ILGPS}, multi-employer defined benefit scheme managed by the Royal Borough of Ki'ngston upon Thames and by Wandsworth Borough Council. The latest actuarial valuation of the Kingston LGPS related lo the period ended 31 March 2023. The Wandsworth Borough Council Pension fund admission relates to TUPE Ifansfer on 1 st February 2024. No actuarial valuation has been carried out. Local Government Pension Scheme - Kin ston The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee administered funds. The total contribution rnade for the year ended 31 March 2024 was £47,704, of which employer's contributions lotalled £33,726 and employees, contributions lolalled £13,978. The agreed contribution rates for future years are between 5.5°/0 and 12.5% for employees and employers contribution5 are voluntary. The actuarial valuation shows the present value of the defined benefit obligation at the reporting dale to be less than the fair value of plan assets al that date, and consequently the plan has a surplus. Per FRS102 a plan surplus should only be recognised as a defined benefit plan asset when the surplus is recoverable, either through reduced contributions in the future or through refunds from the plan. As a result no adjustments have been made to the financial statements. Principal actuarial assumptions 2024 3.25/, 2023 3.45% Rate of increase in salarie5 Rate of increase for pensions in paymenuinflalion Discount rate for scheme liabilitie5 Inflation assumption ICPII Commutation of pensions to lump sums 4.85/0 2.750 4.75% 2.95% 450 45% The current mortality assumptions include sufficient allowance for future improvements in rnortalty rates. The assumed life expe¢lations on retirement age 65 ale.. 30
Balance {Support) cio Notes to the Financlal Statements Forthe year ended 31st March 2024 2024 2023 Retiring today Males Females 19.6 24.8 19.8 25 Retiring in 20 years Males Females 22.3 25.7 22.5 25.9 Sensitivity Analysis Approxlmate Increase to Defined BenefSt Obllgatlon Change in assurnptlons at 31 March 2024.. 0.10/0 decrease in Real Discount Rate 1 year increase in member life expectancy 0.1% increase in the Salary Increase Rate 0.1% increase in the Pension Increase Rate {CPII 109,000 190,000 6,000 1[,000 Approximate increase lo Defined Benefit Obligation Change In assumptlons at 31 March 2023: 0.10/0 decrease in Real Discount Rale 1 year increase in member life expectancy 0.1 % increase in the Salary Increase Rale 0.1 increase in the Pension Increase Rate ICPI} 108,000 188,000 6,000 104,000 Defined benefit penslon scheme net Ilablllty 2024 2023 Scheme assets Scheme obligations 7,014,000 (4,741,000) 6,210.000 14,708.0001 Net asset 2,273.000 1,502,000 The share of the assets in the scheme were.. 2024 2023 Equities Corporate bonds Property Cash and other liquid assets 3.507,000 2,525,040 631,260 350,700 3.601,800 1.863,000 558,900 186,300 Totsl market value of assets 7,014,000 6,210.000 The actual return on scheme assets was 130A {202312.3%11. 31
Balance (Support) cio Notes to the Financial Statements For the year ended 31. March 2024 Changes in the present value of deflned beneflt obllgatlon$ were as follows: 2024 2023 Al 1 April Current service cost Interest cost Employee contributions Actuarial Igainllloss Benefits paid 4,708,000 62,000 224,000 14,000 1213,0001 154,0001 7,359,000 121,000 203,000 16,000 12,950,000) 141,0001 At 31 Mar¢h 4,741,000 4.708.000 Changes in the fair value of scheme assets: 2024 2023 Al 1 April Interest income Actuarial gainslllossl Employer contributions Employee contributions Benefits paid 6,210.000 295.000 511.000 38,000 14.000 154,0001 6,341,000 174,000 1321.0001 41,000 16,000 (41.0001 At 31 March 7,014,000 6,210,000 16 Contlngent Assetg and Liabilities In relation to the Woodbury Care Home service, the Charity was not issued with a lease for the property by the landlord {Royal Borough of Kingston-upon-Thamesl beyond 1* April 2022. As a result, an agreement in relation lo funding and rental of the property fiom the Commissioner (also the Royal Borough of Kingslon-upon Thames) was unable lo be completed. The service closed in November 2023. The amount of rent due relating to the year ended 31st March 2023 is estimated to be £100,208. with an equal amount of funding also due to be received by the Charity. 32
Balance (Support) CIO Notes to the Financial Statèments For the year ended 315t March 2024 17 Movement In funds 1Apr 2023 31 Mar 2024 Income Expenditure Transfers Unregtrlcted Funds General Funds 422 091 2,335,013 2,351,052 41.052 Re$trlcted Funds National Garden Scheme 4,242 14,2421 Kingston Voluntary Action 3,600 {3,6001 Richmond Microgrant 250 12501 Royal Boiough of Kingston up)n Thames Resilience Fund 19,368 11,2581 18.110 England 1.171 1.171 Total Restricted Funds 1,171 27,460 9,350 19,281 Total Funds 423,262 2,362.473 2,360,402 425.333 Al the Stud Community Garden, the National Garden Scheme funding allowed us to Tepair the polytunnel. the King$ton Voluntary Action Grant enabled us lo run 'Grow Cook and Eat. and the Riehmond Microgrant started an apple orchard. The Royal BoroLJgh of Kingston upon Thames Resilience Fund contributed toward the fuel cost increases experienced at Woodbury, whilst additional funding was Secured to install a new kitchen at Stud Community Garden to enable those we work with lo learn cooking skills. 18 Analysis of net assets bgtween funds General Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Fixed assets 44,063 9.812 53,875 20,447 Current assets Cuirenl liabilities 861,462 1499,473) 9.469 870,931 727.572 1499.4731 1324.757} Longer term Liabilities 406.052 19,281 425.333 423,262 33