COMPANY REGISTRATION NUMBER: CE024691 CHARrrY REGISTRATION NUMBER: 1193231 Transforniing Choice CIO Unaudited Financial Statements 31 March 2024 MArrocKS GRINDLEY Chartered accountants 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OWN
Transforming Choice CIO Financial Statements Yèar ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independenl examiner's report to the trustees Statement of financial actNities (including income and expenditure account) Statement of financial position Statement of cash fbws 10 Notes to the financial statements 11 The following pages do not forni part of the financial statements Detailed statement of financial activities 21 Notes to the detailed statement of financial activits'es 23
Transforming Choice CIO Tru8tee3' Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The truslee$, who are also the directors for the purposes of company law, present their report and the unaudrted financial Statements of the charity for the year ended 31 March 2024. Reference and admlnlstratlve detall$ Ragl8tsr8d ¢harlty namo Transforming Choice CIO Charlty WiStr4tlon numb•r 1193231 Company r•gbtr•tion number CE024691 Prfnclpal office and regist•r•d 30 Argburth Drive offlce Liverpool L174JH The trusloes Dr F Hargreaves Sir M Hedley Mrs N Blundell Mr PJ Morris Independent examlner Giles Mattocks FCA 18 Mulberry Avenue Turnstone Business Park Vvldnes Cheshire WA8 OWN
Transforming Choice CIO Trustse8' Annual Report (Incorporating the Director's Report) (eonlinu•d) Year ended 31 March 2024 Strueturo, governanc• and management Transft)rming Choice is an independent Charitable Incorporated Organisation {CIOI. of which the charitable objects are outlined below.. FOR THE PUBLIC BENEFIT, TO ADVANCE THE HEALTH OF ADULTS EXPERIENCING ALCOHOL DEPENDENCY ISSUES THROUGH THE PROVISION OF RESIDENTIAL AND NON-RESIDENTIAL PROGRAMMES OF SUPPORT AND TO PROVIDE SUPPORT AND ADMCE TO THEIR FAMILIES Transforming Cholo opened in 2012 a$ a Community Inte$t Company {CICI, delivering al¢ohol detox and rehabilitation servi¢e$ for people with dependencies to alcohol and other sub$tan¢e$. The organisalion ha$ grown significantly in this period, and in January 2021 converted to a CIO. Overall supervision of Tran$foming Choice is undertaken by the Board of Trustees.. Sir Mark Hedley Ichair), Peter Morris {Treasurerl, Dr Frank Hargreaves and Nicola Blundell. During the reporting period, day to day management of Transforming Choice is the responsibility of newly recruited CEO Frances Molloy and newly registered manager James Keenan, other member of the team has taken on more of managerial role. Throughout this budget year, we have continued work to improve the financial stability of of the organisation. aiming to operate with a minimum unStrided reseNe balan¢e equaling to three months operating costs. Appolntment of charlty trustees Apart from the first charity Iruslees, every trustee musl be appointed for a term of three years by a re5Ul10n passed at a propedy convened meeting of the charity trustees. In selecting individuals for appointment as charity Iruslees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Infonnatlon for new charlty truste•s The charity tru$tee$ will make available to each new Charity trustee, on or befo hi$ or her first appointment.. {al a copy of the cur1 version of this Constitution,. and {bl a copy of the CIO'S latest TnJslees' Annual Report and Statement of a¢¢ounts.
Transforming Choice CIO Trusts•s' Annual Report {In¢orporating the Directorf8 Report) (¢tyJtinu•dJ Y•ar •nded 31 March 2024 Objectlves and actlvltles Transfomiing Choice delivers its charitable obje¢ts through provision of.. A residential tapered alcohol withdrawal detox and rehabilitation programme Transitional and long temi supported and semi supported accommdallon Trauma therapies, specificalty EMDR (Eye Movement Desensitisation and Repro¢e$$ingland Rewind therapy 'ichoose' a communty-based programme of activty offering open ended peer support and platfomi to develop friendships and peer support netsvorks MFssion and values Tfansforming Choice was borne out of a passion for social justice for those on the fringes of society. People dealt an unfair hand in life, fijrther perpetuated by inefficient services and broken systems. With this in mind, we exist to do more than simpty provide a detox and rehabilitation service. We exist to.. Disrupt the status quo within services and systems intended for people with multiple and complex needs To provide fair and meaningfvl opportunities for people who are seekin9 to change their lives To provide a pktforn that empow8rs pgopI8 to take back control over their own lives, enabling them to explore past experien¢e$ and traumas within a safe environment To provide the knowledge and skills qUIred to underpin emotional wellbelng, enabling independence and self-relian¢e Public benellt To advance the health of adults experierscing aknhol dependency issues through the provision of residential and non-residential programmes of support, and to provide support and advice to their families. Strategic report The following sections for achievements and performance and financial review form the strategic report ofthe charity.
Transforniing Choice CIO Trustses. Annual Report (Incorporating the Directorfs Report) (¢ontthu*dJ Yèar ended 31 March 2024 Achlevements and perfomiance During the reporting period 1st April 2023 - 31 st March 2024 54 people accessed alcohol detox and rehabililalion services with Transforming Choice 1000 completed the detox period - 35 completed the 12-week programme and graduated. They were supported into transitional accommodation with Transfonning Choice, appTopTiale accommodalton with other providers or reintegrated back into their family units. 23 people who completed the programme received additional support within transitional accommodation. 47 people consistentty accessed 'iChoose' activities in the ¢ommunty including yoga, meditstion, a range of holistic therapies, football. and numerous trips to places of interest across the Northwest There are 95 members of ichoose in total, with around half having a¢¢e$sed treatment for their addictions wtth other treatment providers. 28 people completed peer mentor training andlor volunteered their lime with the organisalion. providing support to new residents and also building their own resilien¢e. During thi$ budgetyear, we continued to work towards the aims outlined in our'2030 plan,, these include.. Growing our network of accommodation and developing the offer to prevent us needing to refer people on from rehab into inadequate or unsuitable housing solutions. Seeking to launch additional detox and rehab provision within the Liverpool City Region to meet demand for services - consider target demographics, i.e. increased demand for young people. Launching and developing the ichoose programme to provide open ended peer support and programme of activity to promote stability in those in recovery initialty within the Liverpool Cty boundary. extended across the City Region by 2030. In 2023, we were able to accelerate stsff learning and development, this seNed us well this year as tsvo senior members of the team rnove(l on from the organisation. The team were well prepared. trained and experienced to step into new po$ition$, ¢ontinuing their own professional development and creating room for new recrLtits. Specificalty, this year we have.. Promoted one staff member into a senior team member position Promoted a senior member of staff into a leadership role within the organisation Welcomed six new memters of staff lo the team Staff In 2023, Transforming Choice had 22 $tsff members, working the equivalent of 19.5 full time positions. 13 of our team have overcome addictions to alcohol and other substances and have experience of the homefess system. Seven of our staff have been recnjited after completing the Transfonning Choice detox and rehab programme. Transforming Choice trustees a committed to ensuring that the charity and the programme$ il delivers are led by people by lived experience. This is pivotal lo the success of the organi$alion.
Transforming Choice CIO Trustses. Annual Report (Incorporating the Director's Report) {¢onllnued) Year ended 31 March 2024 Voluntegrs All graduates of the Transforning Choice detox and rehab programme are invited to undertake peer mentor training, and to volunteer their lime as peeT mentors when new groups arrive. Peer mentors are an essential resource and provide the staff team with much needed additional capacity. Additsonalty, undertakn.ng peer mentor duties is a positive activity for residents who have graduated from the programme, enabling them to continue to build their own resilience and stabilty. At any one lime, we have belween 15 and 25 active peer mentors. Peer mentors volunteer the majority of their time during the first three to four weeks of a new programme. overall volunteer peer mentor hours during this are approximately 40-70 hours p8r week. Flnancial rovlow Total income for Ihe year was £790,495. Totsl exponditure for the year was £870,218, resulting in a deficit for the year of £79.723, which has been in line with tru$lee$' expectsb'ons. At 31 March 2024 the charitsble incorporated organisation's re$eNes Stood at £299,483, of whtch £62,533 represented re$lricted funds. Rlsk management The trustees have assessed the major risks to which the charitable incorporated organisation is exposed and are satisfied that systems are in pLqce to manage exposure to those risks. Reserves policy 11 is the aim of the trustees lo build reserves to a minimum of three months operating costs and maintain this at all times.
Transforming Choice CIO Trustees. Annual Report {Incorporatlng the Dlrectorfs Report) (contffftj Year ended 31 March 2024 Plans for fUre perlod8 Further lo our achievements, we have also w(thd on the prioTilies set out for the 2024-2025 financlal year.. Begun the process of purchasing 30 Aigburth Drive from Liverpool City Council to safeguard our location for the fubjre. We have secured a mortgage for £521,000 and a grant of £50,000 towards the wrchase. We will secure the remainder of the funding required in the coming weeks. Despite tying to work with registered providers. we've not been able lo secure any additlonal properties as we'd hoped lo in 2021. We will ¢onlinue to explore alternative options. including soclal finance to develop our housing offer. We have further built on our reserve finances. providing vs with addrf(ional financial stability- Developed and grown th8 ichoose programme. which now has over 140 members - half of whom did not a¢¢ess treatment for their addiction wrth Transforming Choice. Continued to deliver trauma therapies for people struggling with unresolved trauma. Officially began research around efficacy of tapered alcohol withdrawal in partnership with Liverpool John Moores University and the Royal Liverp)ol University Hospital", our resear¢her began working with the January 2023 intake to measure brain activity and function durlng and after alcohol detox. Summary 202>2024 has been a year of change for Transforming Choice.. whilst at ts'mes this has felt uncertain, we have continued to make positive strides towards growing the charity lo enable us to meet growing demand for our services. Transforming Choice have proudly pioneered unique approaches to working th trauma and addictions. This work has become increasingly important over the past few years in which we have seen an unprecedented increase in alcohol related deaths and demand for alcohol and substance services from people battling addictions. During 2024-2025, we will continue to grow, test and develop new initiatives that will allow us lo extend our reach and impact. The trustees, annual report and the strategic report were approved on . on behalf of the board of trustees by: arml signed MrPJ orris ee l Treasurer
Transforming Choice CIO Independent Examln•rfs R•port to the Trustees of Transforniing Choice CIO Year •nded 31 March 2024 I reFQrt lo the trustees on my examination of the financial $talements of Transfomiing Choice CIO I'the charity,) for the year ended 31 March 2024. Responsibllltlos and basls of report As the trustees of the company (and also its directors for the purposes of Company law) you are responsible for the preparation of the financial ststements in a¢¢ordance with the requirements of the Companies Act 20061'the 2006 Act,). Having satisfied myself that the accounts of the ¢ompany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In arrying out my examination I have followed the Directs'ons given by the Charity Commission under section 14515)(bl of the 2011 Act. Independent examlne¢s statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 ACL I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEW), which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. ac¢ounkn'ng records were not kept in respect o* the charity as required by section 386 of the 2006 Act,. or the ffinan¢ial $tatemenl$ do not accord with those records.. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a maller considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in aceordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Giles Mattocks FCA Independent Examiner 18 Mulbeffy Avenu8 Tumslone Busines$ Park dnes Cheshire WA8 OWN
Transforming Choice CIO Statement of Financial Activltles lincluding income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total fvnds 2023 Unrestricted funds Note Income and ondowments Donations and legacies Charitable activities 5.350 685.645 99.500 104,850 685,645 143,055 711,367 854,422 Total Income 690.995 99.500 790.495 Expgnditur• Expenditure on Charitable activrties Total expendilur• 787,343 82,875 870,218 724,037 724,037 787,343 82,875 870,218 Net lexpendlturellln¢ome and net movement In fund8 196,348) 16,625 (79,7231 130,385 Reconclllatlon of funds Total funds brought forward Total fvnd8 carrled forward 333,298 45,908 62,533 379,206 248.821 236,950 299,483 379,206 The statement of financial acb'vib"es includes all gain$ and losses recognised in the year. Ail income and expenditure derive from continuing a¢tivilie$. The notes on pagej 11 to 19 fonn of tho•0 fin•n¢lal st•t•m•nts.
Transforming Choice CIO Statement of Financial Posltion 31 March 2024 2024 2023 Fixad as$ots Tangible fixed assets 12 58.529 5.979 Current assets Debtors Cash at bank and in hand 13 5.854 246,669 322.847 252.523 378.713 Credltors: amounts falllng due wlthln one year Net Current assets 14 11.S69 5,486 240.954 373.227 Total assets less currenl Ilabllltles 299.483 379,206 Net assets 299,483 379.206 Funds of the charty Restricted funds Unrestricted fvnds 62.533 236.950 45.908 333,298 Totsl charity funds 16 299,483 379,206 For the year ending 31 March 2024 the chaTty was entitled lo exemption from audit under section 4TT of the Companies Act 2006 relating lo small compani8S. Dlre¢lors' responsibilities.. The members have not required the company lo obtain an audit of its financial statements for the year in question in accordance with section 476.. The directors acknedge their responsibilities for complying wtth the requirements of the Actwilh respect lo accounting records and the preparation of financlal statements. These financial statements have been prepared in accordance with the provision$ appli¢able to companies subject lo the small companies, regime. These financial statements were approved by the board of trustees and authorlsed for Issue on
£(w..l., and are signed on behalf of the board by: ,MrP Morris ee l Treasurer Th• notss on pages 11 to 19 forni part of th•80 Ilnan¢lo1 $tat•m•nts.
Transforming Choice CIO Statement of Cash Flows Year ond•d 31 March 2024 2024 2023 Cash flows from operdtlng acllvltlos Nel lexpendilure}lincome 179,723} 130,385 Adjustments for.. Depreciation of tangible fixed assets Accrued expenses 6,956 7,027 2,989 2,765 Changes in.. Trade and other debtors Trade and other creditors 50,012 {944} 116,672} 116,672} {37,564) {10,333) 88,242 88,242 Cash generated from operations Net cash {used in)lfrom op8raling activities Cosh flow5 from invgsting a¢tivitio8 Purchase of tangible assets Net cash used in investing activities (59,5061 (59,5061 Net Ideereaselllncrease In cash and cash equlvalents Cash and cash equlvalents at beglnnlng of yoar Cash and cash equlvalents at end of year {76,1781 322,847 88.242 234.605 246,669 322.847 Thè notss on pttg•$ 11 to 19 fomi part ofth•¥• finan¢ial $tatsmènts. 10
Transforming Choice CIO Notss to the Financial Statements Year ended 31 March 2024 General InfOallOn The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 30 Aigburth Drive, Liverpool, L17 4JH. StatOm0nl of ¢ompllance These financial statements have bgen prepared in compliance with FRS 102, The Finan¢ial Reporting Standard appIlble in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 ICharitie$ SORP {FRS 10211 and the Companies A¢t 2006. Accountlng poll¢le8 Cash and ¢¥sh oquiv•lonts 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. Basls of pr•paratlon The financial statements have been prepared on the historical cost basis, as modffied by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial sta18ments are prepared in sterling, which is the functional currency of the entity. Basi¢ finan¢i¥l •$$tts Ba$1¢ financial a$$el$, which include debtors and ¢ash and bank balances, are initially measured al Iransa¢tion price inclLkding Iransa¢tion ¢osls 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 interesL Financial assets ckqssified as receivable within one year are not amortised. Golng concem Al the time of approving the accounts, the trustees have a reasonable expectation that the Charitable Incorporated Organisalion has adequate resources lo continue in operational existence for the foreseeable future. The trustees are confident that the levels of liquidity and free reserves will not affect the Charitable INrpOrated Organisation operab'ons. Thu$. the trustees continue to adopt the going ¢on¢em basis. Baslc flnanclal Ilabllllle8 Basic financial liabilities, includirsg creditors and bank loans are initially recognised at transaction price unless the arrangement conslrtutes a financing transaction. where the debt instrument is measured at the present value of the future receipts discounted at a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments a $ub$equenty ¢arried at amorti$ed $t, using the effective interest rate method. 11
Transforming Choice CIO Notes to the Flnanclal Statements (conllnu•dJ Y•ar •nded 31 March 2024 Accounting pollcles (continuod) Oerecognltlon of financial Ilabllltles Financial liabilits'es are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Judgements and key sources of estlmatlon uncertalnty In the application of the charity's accounting policies, the trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilitie$ that are not readily apparent from other sources. the estimates and associated assumptions a based on historical experience and other factors that are cOnsere(l to be relevant. Actual SuIts may differ from these estimates. The estimates and underlying assumptions are reviewed on an on4Joing basi$. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects onty that period, or in the period of the wision and fvt periods where the revision affect5 both current and futu periods. All expenditure is ac¢oLrnted for on an aecruals basig. All expenses, including support costs and governan¢e costs, are allo¢ated or apportioned to the applicable expenditure headings in the Statement of Finan¢ial Acb'vities. Support and governance costs are applied to unrestiicted funds unless spe¢ifiealty included in the restrictions, as specified by the donor. Cost of charitable activities relate to the operation of the charity comprising direct charitable expenditure to meet the objectives of the charity. Support and govemance costs relate lo the management and operation of the organisation and also compliance with consliluts.onal and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Income tax Income and gains are exernpt from taxation as they are ceived applied for ¢haritsble purposes only. The Charitable Incorporated Organisation benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation lax on income or gains falling within those exemptions. The Charitable Incorporated Organisation is not able to recover Value Added Tax. Expenditur8 is recorded in Ihe ac¢ounl$ inclusive of VAT. Fund ac¢ountlng Unrestricted funds are the Charitable Incorporated Organisation's free reserves available for the trustees to appty in accordance with the charitable objects. Restricted funds are subject to specific restrictsve condib'ons imposed by the donor. All restricted fijnds are accounted for as restricted income, and expenditu for the purposes is Charged to the nd. 12
Transforming Choice CIO Notes to the Financial Statsments (¢onUnu*dJ Year ended 31 March 2024 A¢countlng poll¢loS (¢onllnu•rfJ Incoming rgsourc0S All income 1$ Cognised once the Charitable Incorporated Organisation has entitlement to the income, there 1$ sufficient Certainty of receipt and so it is probable that the income will be received. and the amount of income can be MeaSud reliably. Donation$ and lega¢ie$ ¢ompri$e donations which are recognised in the accounts when received, with the excepb'on of known legacies which are accounted for when their receipt is certain. Income from charitable activities is recognised on an accruals basis, except for grants receivable. which are re¢ogni$ed on the dale on which their unconditional payment is confinned by the donor. Ro$our¢•6 expondod Liabilities are recognised as soon as there is a legal OT constructive obligation committing the Charitable Incorporated Organisation lo that expenditure, it is probable that settlement will be required. and the amount of the obligation can be measured reliably. All expenditure is accounted for an an accruals basis. All expenses, including support costs and governance costs. are allocated or apportioned lo the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unre$tri¢ted funds unless specifically included in the restrictions, a5 specified by the donor. Expenditure on charitable activities relate to the operation of the eharty comprising direct charitable expenditure to meet the objecb've of the Charitable In¢orporaled Organisation. Support and govemance costs relate lo the management and operation of the Organisatson and also Complian with nStitUtIOnal and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the ¢hanty. Tanglble a88ets Tangible assets 8re initially recorded al cost, and subsequently slated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried al revalued amounts are recorded at the fair value at the dale of revaluation less any subsequent acCumuted depretyation and subsequent accumulated impairment losses. Dopreclatlon Capital expenditure of £200 and above is treated as a fixed asset and depreciation is calculated so as to wnle off the cost or valuation of an asset. less ils residual value, over the usefvl economic life of that asset as follows-. Freehohl propety Fixtures and fitts'ngs 15¥0 straight line 25 /0 straight line 13
Transforming Choice CIO Notes to the Flnanclal Statements (eonlinu•d) Year •nd•d 31 March 2024 Accountlng pollcles fcontinu•dJ Impairnient of fixed assets A review for indicators of impairment Is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testing, when it is not possible lo esb'mate the recoverable amunt of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of as$ets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaimeftl testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the eash-generating units that are expected to benefit from the synergies of the ¢ombinab'on, irre$pe¢tive of whether other assets or liabilities of the charty are assigned to those units. Finan¢ial in$twm¢nts The charity has elected to apply the provisions of Section 11 'Basic Financial Instfuments. and Section 12 '0ther 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 paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intentson to settle on a net basis or to reali5e the asset and settle the liability Simultaneously. Dofinod contribution plans Contributions to defined contribution plan$ a re¢ognised a$ an expense in the period in which the related Servi is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. IMen conlribulions are not excted to be settled wholty within 12 months of the end of the reporting date in which the employees render the related SeICe, the liability is measured on discounted present value basis. The unwinding of the discount is recognised as an exp8nse in the period in which it arises. DonalSons and legacles Unrestricted Fund$ Restricted Tolal Funds Funds 2024 Donatlons Donations 5,350 5,350 14
Transforming Choice CIO Notes to the Flnanclal Statements (conSTnued) Y•ar anded 31 March 2024 Donatlons and legacles (eontinu8dJ Unrestricted Funds Restri¢ted Total Funds Fund$ 2024 Grants Garfield Weston Foundation Liverpool City Council National Lottery Fund - Reaching Communities Steve Morgan Foundation (Garden) Steve Morgan Foundation (Salaries) 84,000 15,500 84,000 15,500 5,350 99,500 104,850 Unrestricted Funds Restricted Totsl Funds Funds 2023 Donatlons Donations 4,960 4.960 Grants Garfield Weston Foundation Liverpool City Council National Lottery Fund - Reaching Communities Steve Morgan Foundation IGarden) Steve Morgan Foundation (Salaries) 30,000 720 84,000 30.000 720 84.000 23,375 23,375 143,055 4,960 138,095 Charitable activities Unrestricted Total Funds Unre5trided Toial Funds Funds 2024 Funds 2023 Care income Service and contract income Rent student placements 46,886 322,510 313,449 2.800 685.645 46,886 322,510 313,449 2,800 685,645 76,523 291,255 341,344 2,245 711,367 76,523 291,255 341,344 2,245 711,367 15
Transforming Choice CIO Notes to the Financial Statemènts l¢•nOnu¢d) Year ended 31 March 2024 Expenditure on ¢harltable a¢tlYltles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Direct charitable activities Support costs 783,803 3,540 82.875 866.678 3,540 870,218 787,343 82,875 Unrestricted Funds Restricted Total Funds Funds 2023 DI¢t Charitable a¢livities Support costs 521,879 4,420 197,738 719,617 4,420 724,037 526,299 197,738 ExndItUrfr on charltable ac15vilies by activlty type Activities undertaken direcdy Support Total fvnds costs 2024 Total fijnd 2023 Direct chantable activrties Governance costs 866.678 866,678 3,540 719,617 4.420 3,540 866,678 3,540 870,218 724,037 Net lexpenditurellincome Net lexpenditurellin¢ome 1$ ststed after chargingllcreditingl.. 2024 2023 Depreciation of tangible fixed assets 6,956 2.989 Independent examination f• 2024 2023 Fees payable lo the independent examiner for. Independent examinalion of the financial statements 1,250 1,250 10. Staff costs The average head count of employees during the year was 38 {2023= 221. The average number of full-time equivalent employees during the year is analysed as follows-. 2024 2023 No. Number of stsff 20 20 16
Transforming Choice CIO Notes to the Financial Statements (condnu•dJ Year ended 31 March 2024 10. Stsff costs (contlnu No employee received employee benefits of more than £60,000 during the year12023'. Nill. 11. Trustee remuneration and expensos No remuneration or other benefits from employment with the ¢harity or a related entity were received by the trustees. 12. Tangible rued assets Freehold Fixtures and property fitttngs Total Cost At 1 April 2023 Additions 11.538 11,538 59,506 59,506 59,506 At 31 March 2024 11.538 71,044 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 5,559 2,989 5,559 6,956 12,515 3,967 3,967 8,548 Carrying amount At 31 March 2024 55,539 2.990 5,979 58.529 At 31 March 2023 5.979 13. Debtors 2024 2023 Trade debtors Prepayments and a¢¢wed in¢ome Other debtors 5,854 8,532 29,834 17,500 5,854 55,866 14. Creditors: amounts fallin9 due within one ye•r 2024 2023 Trade credrtors Accruals and deferred income Social security and other tsxes 527 11,042 632 4,015 839 11.569 5,486 17
Transforming Choice CIO Notes to the Financial Statements (contlftued) Yr ended 31 March 2024 15. Pen81ons and other post rellrement beneffts Deflned contrfbutlon plans The amount recognised in income or expendibjre as an expense in relatron to defined contribution plans was £10,72612023.' £10.0331. 16. Analysls of charftable funds Unrestrlcted funds At 1 April 2023 At 31 March 2024 Income Expenditure Unrestricted fvnds - General funds 333,298 690,995 1787,3431 236,950 Al 1 April 2022 At 31 March 2023 Income Expenditure Unrestricted fvnds- General funds 143,270 716,327 1526,2991 333,298 RoStrict•d funds At 1 April 2023 At 31 March 2024 Ineome Expenditure Restn'cted Funds 45,908 99,500 {82,8751 62,533 At 1 April 2022 At 31 March 2023 Income Expenditure Restricted Funds 105,551 138,095 {197,7381 45.908 These are monies given to the charitable incorporated organisation to be spent at the discretion of the Board of Trustees for sPefiC charitable purposes, as follows.. National Lottory Fund- Reachlng Communhles Contribution towards stsff salary ¢o$ts and ¢0 costs Steve Moryan Foundatlon {Gardon) Contribution lowards the garden project. 18
Transfomiing Choice CIO Notss to the Financial Statements (¢onlTnued) Year ended 31 March 2024 17. Anatysls of net assets bBlw••n funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 42.108 206.411 {11,5691 236.950 16.421 46.112 58,529 252,523 111,569} 299,483 62,533 Unrestricted Funds Restricted Totsl Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Nel assets 2.071 336,713 15,486) 333,298 3,908 42,000 5.979 378.713 15.4861 379.206 4S,908 18. FlnaThclal Inslruments The charity has elected to apply the provi$ion$ of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments l$$ue$' of FRS 102 to all of its financial instruments. Financial instruments are re¢ogni8ed in the charity's balance sheet when the charity becomes party lo the contractual provision$ of the in$twment Financial liabilib'es are derecognised when the charity's contractual Oblall05 expire or are discharged or cancelled. 19. Anatysls of changes In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 322.847 176,178) 246,669 20. Other flnanclal commltments The Charitable Incorporated Organisation held a lease dated 2017 for five years at a premises owned by Liverpool City Council, under the temis of which an annual peppercorn rent could be demanded. The charitable incorporated organisalion 1$ currently in negotiation with Liverpool City Council regarding the new lease agreement. 21. Rglatod partles Dr F Hargreave$, a trustee, was paid £1,200 for dinical support on a seif*mployed basis during the year lo 31 March 2024. 19
Transforming Choice CIO Management Inforniation Year ended 31 March 2024 Tho followlng pages do not form part of the flnanclal statements.
Transfomiing Choice CIO Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and gndowmgnts Donatlons and legacles Donations Garfield Weston Foundation Liverpool City Council National Lottery Fund - Reaching Communibes Steve Morgan Foundation {Gardenl Steve Morgan Foundation {Salariesl 5,350 4,960 30,000 720 84,000 84,000 15.500 23,375 143,055 104,850 Charttablg a¢tlvltl•s Care income Service and contract income Rent Student placements 46,886 322,510 313,449 2,800 685,645 76,523 291,255 341,344 2,245 711,367 Total in¢ome 790.495 854,422 21
Transforming Choice CIO Detailed Statement of Financial Activities (¢onllnu•d) Year ended 31 March 2024 2024 2023 Expendlture Expendlture on charltable actlvltles Wages and salaries Employer's NIC Pension costs Rent Rates and water Light and heat Repairs and rna1ntenare Insurance Other motorltravel costs Legal and professional fees Telephone Depreciation Activitie$ Clinical support Health and safety Cleaning Computer support Food and drink Stationery and postage Volunteer expenses TV Licence and Neffiix Consultancy fees Drug testing kits DBS fees Subscriptions Pest contr Training Bank charges Advertising and markeb'ng Unre¢overable debt 577,528 41,808 10,726 4,149 5.951 56,569 24,653 16,494 4.083 13,082 2,977 6,956 8,364 1,862 2,843 2,160 10,533 19,603 1,662 5,852 191 14,820 2,552 805 10.195 504 3,094 1.231 1.471 17.500 495,622 38,652 10,033 4,248 5.596 40.186 15.543 13.249 5,578 4,420 3,287 2,989 10.046 2,660 247 3,367 2,826 18,449 3,621 3,083 290 14,111 2,278 208 11.451 1.550 1,202 8.405 870,218 724,037 Total expendlture 870,218 724,037 Not10Xnd1tur•lIntorn9 (79.723) 130.385 22
Transforniing Choice CIO Notes to the Detail•d Statemènt of Flnanclal Actlvltles Year ended 31 March 2024 2024 2023 Expendlture on eharltable actlvftles Dlrect Charltable actlvltles Actlvltl&s undertaken dlreetly Staff wages Oirect charitable activity 1- empbyerfs NIC Pension Room hire Rates and water Light and heat Repairs and maintenance Insurance Motor and ITavel costs Professional fees Telephone and intemet Depreciation Acb'vities Clinical support Health and safety Cleaning Computer support Food and drink Stationery and postsge Volunteer expenses TV Licence and Neffiix Consultancy fees Drug testing kits DBS fees Subscriptions Pest control Training Bank charges Adverb'sing and marketing Unrecoverable debt 577,528 41,808 10,726 4,149 S,951 56,569 24,653 16,494 4,083 9,542 2,977 6,956 8,364 1,862 2,843 2,160 10,533 19.603 1,662 5.852 191 14,820 2,552 805 10.195 504 3.094 1.231 1.471 17.500 495,622 38.652 10.033 4.248 5.596 40,186 15.543 13,249 5,578 3,287 2,989 10,046 2,660 247 3,367 2,826 18,449 3,621 3,083 290 14,111 2,278 208 11,451 1,550 1.202 8.405 866,678 719,617 Gov•mance costs Governance costs- accountancy fees 3,540 4.420 Expondhur• on charltable a¢tlvhl•s 870,218 724.037 23