Company Rggistration Number 00241676 Charity Numbor 228577 MANCHESTER SETTLEMENT A COMPANY LIMITED BY GUARANTEE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
MANCHESTER SETTLEMENT ACCOUNTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Mombers of the Board and Professhjnal Advisers Trustees. Report Independent Auditors, Report to the Membgrs Statement of Financial Activities 12 15 Balance Sheet 16 Cash Fl¢)w Statement 17 Notes to the Accounts 18
MANCHESTER SEThLEMENT MEMBERS OF THE BOARD AND PROFESSIONALADVISERS BOARD OF TRUSTEES Role Dale of in y9ar oinlmenl Dale of in year resi nation 1310912023 An ela Do David Black Kell Mor Marcellina Slen Maria Lesler Mlcha81 Conwa Martin Sutton ela Beacon Lukes ib Abdullahi Tr&re 2010912023 2010912023 Chair 1510212024 1510112024 COMPANY SECRETARY Adrian Ball SENIOR MANAGEMENT TEAM Role Adrian Ball Chief Executlve REGISTERED OFFICE AND PRINCIPAL ADDRESS New Roundhouse 1328- 1330 Ashton Old Road Openshaw M8nch8ster M11 1JG AUDThORS Crowe U.K. LLP Chartered Accountants & Registered Auditors The Lexlcon Mount Street Manchester M2 5NT BANKERS The Co-operative Bank PLC PO Box 101 1 Balloon Streot Manchester M60 4EP SOLICITORS HLF Berry 446 Badow Moor Road Chortton Manchester M21 OBQ Page 1
MANCHESTER SETTLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Chalr's Report I would like to begin my report by thanking the Trustees, Chief ExeculNe. staff and volunteers that have contributed to the charity during the yeaT. The charity has continued to grow its impact through the extension of servic&s and the development of new services that positively impact upon the wide range of inequalities Ih8t the residents of North Manchester face on a daily basls. The trustees ar8 very proud of the staff and volunte818 that are driven to reduce those inequalities and improve tha life ch8n¢8s of local people. 2023 was a very important year for Manchester Setuement in that the charity compl8ted the purchase of the previously long tem leased out parts of the New Roundhouse building. This purchase has allowed us to develop stratggies for increasing the impact of our spaces and plans for increasing the revenues that our spaces provide to support the core infrastructure costs of the charity. Consequentty, wo were able to double our income from room hiTe to almost £40k and develop 3 partnership with Manchester City Councll lo eslablish our centre as a Family Hub, Lrtilising the space now available to us. Our Nursgry and After School Club continued to provide well regarded edutiOn and care to 'Give Children The Bast Possible Start in Life". however the Iruslees needed to make the decision to adjust the delivery model to become YeTm Ilme only lo support wth the industry wide challenges of profitability and staffing. This change was accompanied by a temporary closure of our"Baby room due lo falling demand. Both of these changes are subject lo corbtinual review and indeed we are planning to re-open the Baby Room in September 2024 aligned to increases in the funding available for these children. Th& works lo transform our outside play area Completed in January 2024. and we are very happy with how ¢)ur children are enloying the space. Our Supportetl Accommodation service continued to provSde homes and SLtpport for vulnerabl8 young people, wth our capacity growing durfng the year from 29 to 33 bed spaces. The management team have been worklng hard on d&veloplng the service lo meet the specrficalion of the now legislatK)n established in 2023 to govem the quality of such provislon, and the Inspection Framework s8t out by OFSTED. The servic8 completed a successful registration process wth OFSTED and is working lo the new standards on a dally basis. Our Open Access Youth and Play provision has continued to be very popular. Our weekly sèssion$ now atlract over 50 young people such that the Iru8lees have decided lo invesl in additional staffmg hour5 to open up 8nother youth night pending applications for further funding. Simi18rty, our F¢X)tball provision for young asylum seekers continues to atttacl high numbers of young men. We are building upon their attendance with a wider support pro9ramme around health and wellbeing. Our Community team has successlully wdened the offer available lo adults that need support during the first year of the Our Manchester funded project. The funds provided by that project have enabled our staff team to secure additional fijnds for projects. doubling the initial fvnd value. and increasing the impact we make. 7C4) adults benefitted from our communty programmes during the year. attending for over 10,000 collective hours, by far ouf best perfomian¢e for many years. The last months have also seen the launch of a partner5hw) with the Health Creation Mliance. We have worked wfth the HCA lo deliver an Action Resear¢h project across 3 areas of Manchester that aims to deliver better long term health outcomes in ¢ommunilies through improved reflectlve practices in small community organisations. We are excrted that this work is attracting Interest from commissioners across Manchosler and are hopeful that we w511 be able to exlentj the project In Ihe nearfviurg. Flnalty. 11 Is very 5ignlficant to note that Manchester Setuemenl has boen selected as the only new communily building in Manchester to bme part of the Family Hub programme roll out. Whilst the building refurbishmgnts will take place in the sumrner of 2024, our success In b8ing part of thSs is due to tha priortty that has been given over the last 4 years lo increasing the provision of infomial service$ for parents with children. During th8 last year this included programmes foT Children wilh special edu¢alional need$. programmes for young mothers and much more. Page 2
MANCHESTER SETTLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Corporate Challenges Th8 trustees had sensibly budgeted for a potenlialty iurbulent year aware of significant cost pressures. The impact of significantly higher salaries Ifollowing increases in the Real Living Wag&l, increased ulilily costs, and less flnancial contributions towards building Costs following the exlt of th8 long-terrn leaseholder. Strong rnanag8menl of costs. new and improved grantslcontracts during the year, plus strong perfomianc8 with oui room rentals meant that the budget position was improved upon consider8bly throughout the year. Along with other charities, we aro facing up to the thats posed by insufficient cyber security in an ever- changing landscape. We ¢ommen¢ed a Cyber Security proSe¢t in October 2023 which is progressing with the gradual roll oul of technic81 and procedural improvements lo our data environment. We are also managing the risks of w)or data mana9ement through moving more core services onlin8. Durin9 2024 wo successfully implemented a new online HR management system which has led lo bett&r, saf8r an¢J moro streamlinad servus. We K*mpleted our registration process with OFSTED for our Supported Housing service on lime, receivlng excellenl feedback. but are very conscious of the demand5 that this new quality assurance framework places upon us. In response we in¢reosed the size of the stsff team mid-year, and Implemented a new management structure lo include a deputy manager role. The trustee5 wouhl like to thank all the funders that have made our sSgnrfi¢ant achigV8menls possible. Major funders have included.. Manchoster City Council Uoyds Bank Foundation National Lottery- Cost of Living Fund Young Manchester One Manchester 4CT Limited Man¢he$leT UnNersity NHS Foundation Trust Greater Manchester Centre for Voluntary Organisation Our work wwld not be posslble without the commitfflent of our passionate volunteers and 8tsff who are drlvan to improve the liv&s of young people. The board would additionally wish to p88s on their thanks lo them all. R•vl•w of Chafity'$ Position Our financial position at the end of the reporting pericwj is healthy. Our free reserves lunrestricled funds that are not used lo fund property) prgvide for around five months of operating costs Ise8 page 101 Plans for the n•xt 12 Months The charity w511 continue to implernenl Intemal and external plan$ that enable u5 to deliver on our newly consldered purpose statement- STRONGER COMMUNITIES TOGETHER. 8grvS¢e areas and th¢lr priorities Young Peoples Servlces Ilnduding Supported Housing) To work with investment partners in order lo increase the supply of home$ for vulnerablo young adults in Manchesler. We continu8 with our service improvement plans, fo8$Ing uwn continued staff development. To tsmplemenl a new staff structur8. We become a recognised ¢enlr& of excellence with regar(I lo working with asylum seeking young people. To prepare for a futur8 OFSTED framework that will be a mandatory Insp9Ction arrangement for the service. Paga 3
MANCHESTER SErrLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Child and Family Services To embe(l our role as a Family Hub, within thè Manchester and national neork offamily hub centres. To explore options for growth of our impact upon children and families in other community Setting5. To re-open our Baby Ri)om. To prepare for future OFSTED inspe¢tion5. Communty, Health and Well1n9 To adapt our provision in response lo the space needs of thè Famity Hub. To roll out the Health Creation approaches across our own teams. and in fvlure projects across Manchester. To contir)ue to adapt and create services lo bulld communty capacity and confKlence. To improve dats management to allow for data Informed services. Charity Leadership and Management To improve the internal mechanisms whereby drfferenl departm8nls come together Imggtings. development $8ssions 8lcl- To embod cyber s8curity pro¢&sses. To have Gonsidered the overall structure of the n¢n-departmental I core leadetship. To build the capacity and slr8nglh of our board of trustees and management team. and tha quality of systems that serve them, so as lo have a sound succession plan. To ntinUe lo progress our new marketlng strategy. Post Year End Signlflcjnt Events The charity signed an agreement for 3 LoanlGrant package from the Social Investment Business In earfy Aprll 2024. The £150k fvnd was immediately used to ftjnd the purchase of a house lo be used as part of the Supported Housing seNicè, wth repayments of the IoBn elernenl over 3 years. These repayments have been built into the cashfiow analysis and our judgements of goin9 concern. The Nursery was inspected by OSFfED on the 15th April 2024. The trustees and managemonl team are delighted that the nursery maintained ils"good" rating. Free reserves were utilised lo fund the purchase of a further 2 bedroom house in July 2024 to support the expansion of the Supported Housing service. Signature Marba Lesler- Chair Date: 4¢1&1? IL9 Page 4
MANCHESTER SETTLEMENT TRUSTEES. REPORT YEAR ENDED 31 MARCH 2024 INTRODUCTION The truste8s are pleased to present their annual Trustees, report toyelher wlth the financlal stst8ments of the charity for the year ended 31 March 2024 which are also prepared to meet the fequirgmenls for a directors. rerort and accounts for Companies House. CHARITIES ACT PURPOSES The ffftandal statements comply with the Charities Acl 2011. the Comp8nies Act 2006. the Memorandum and Articles of As8oci8tion. and Accounting and Reporting by Charities.. Stslemenl of R8comm&nded Practice applicable lo charities preparing their accounts in Bccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 October 2019). The directors of the charitsble Company (thg charity) are its trustees for the purwse of charity law. The trustees and officers serving during the year and since the year end 8re as per page 1. STRUCTURE GOVERNANCE AND MAhlAGEMENT L•gal sta8 Manchester Seltlement is a private company limited by guarantee Iregislration number 00241676} and is a registered ¢harity Iregistralion number 2285771. 11 is govemed by its Memorandum and Articles of Association daled 12 August 1929 as am8nded 16 January 1997. 28 November 2013 and 19 September 2017. Goveman¢• The charity has a l)oard of Iruslees that overs8gs the running of th8 organisation. The board of Irustéès are ele¢ted al the Annual General MeBtlng. Each year, they also elect three honorary officets from theSr own number.. a Chairparson. Vice-chairperson, and Treasurer. They also elect a Company Secretary who does not need to b8 a trust&&. The board shall be not less than three and with the upp8r limit d8fin8d by the b08rd from time to tlme. Trustees must resign at the Annual General Meeting rf they have been on the board for threè years bul may stand again for re-electlon. Trustee8 ar8 rocruiled and elected rf a particular skill or experSence is identified. The board of Iruslees may co-opl advisors lo the board as and when particular skills ore requlred. Chorlty Gov•manGg Cod• The Twstees have adopted the Charity Governance Codg. an updatgd v8rsK)n of which was published in December 2020, and are guided by rts principles and recommended praclice for good governance. The trustees note that the current Memorandum and Artides of Asso¢ialion need reviewing in 2024125 to refle guidance on maximum terms for truste8S. Indudlng Trustees Al new tnjstees are interviewed Prtor lo appointment by the Chair and CEO before being Considered for appointment by the Irustees. Upon appointment they are required lo undergo DBS clearance checks as part of our safeguarding poffi¢y. New trustees then spend a half day in the charity touring the different projects to meet staff and $8rvice users. They are inducted Into the role of a trustee based upon the Charity Commission guidance. Decision Maklng The trustees have aged a schem6 of delegation which specifies thg derAs$. limits and tolerances that ar available to the CEO and to other staff. The tiustees agree the ¢harty'S Strategy and budget plus a limited range of statutory policies. The CEO may make decisions that are in accordance with the charity's strategy and agreed budget, including the hiring of stsff and agreeing contracts. Page S
MANCHESTER SETTLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 OUR PURPOSE CREATING STRONGER COMMUNITES TOGETHER Our $trategic framework conllnues to direct our decision maklNJ and our pracllce across parts of the charity. CREATING STRONGER COMMIJNITIES TOGETHEA -vlidlWe ',Ifish 105ee Vhat We Ilelr jur Seivire. Re5PQit thp SifEn¢ih5 and ¢.ed5 of all ol ou¢ siakphddets alLte'. EIQ tiulhlvl Icaft5pert BÈ brnve onou%h foiPthllenp.e MANCHESTER SETTLEMENT Publi¢ Benefft In shaplng our objectives for thg year and planning our 8¢tiviti&s, the Injslees have consldered the Charity Commission's 9uidance on publi¢ bon8frt. including the guidance 'public bènefit: running a charity.. The original objècts of Manchester University Settlement {old name for Manchester SettlÈment} defined in the Men)randm and Artides of Association re9lStered in 1929 are.. To prom¢le the social welfare of the poorer residents in the City of Manchester and neighbourhood. The benefiGial ore8 is the City of M8n¢hester and District. In 2013 Manchester Settlement adopted a new set of Memorandum and Articles which elaborated on this sllghlly saying= To promot8 the a¢fvancement of educatn, the furtheran¢e of health and all other measures for the so¢i81 welfare of the poorer residents in the City of Manchèster and neighbouring districts. The trustees believe these original objects lo still be relevant and appllcable, however thgy plan lo review and update them subject to Charity Commission approval in 2024125. Page 6
MANCHESTER SEThLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 The Trustees, report sets out the activities and achievements of the Charty during the year ended 31 March 2024. From the Trustees, report it can be seen what the benefits are and that the benefits are related to the aims set out above. Our work has continued lo be centred around six cmss cutting Outces. 11 Lèaming and Giobvth 21 Economic W8Ware 31 Wellbeing 41 Inclusion and Access 51 Social Rolationshlpslconnections 61 Communty Power I this work ha5 benefited both the direct benefldaries Ihemselv&s and their communities throughout the Clty ol Manchester. All the beneffciarieg could ba described within the terms of the original 1929 Memorandum and Articles of Association as 'the poorer residents of the City of Manchester and neighbtsurhood. and no individual has been excluded on the basis of their inability ID pay or by geographical or inappropriate restrictions. The 8v8ilability of places is limited only by numbers and criteria of need. In most cases there is no charge lo the benaficiary because payment is received on their behoif from ihe publi¢ purse. ACHIEVEMENTS SUPPORTING OUR CROSS CUTTING OUTCOMES Manchester Setuemenl largety adopts performance indicators from lh8 funders that give us grants or contracts. The trustees are delighted to report thot all of these granvconlracls performed wo11. Headlin• A¢hle¥ements $upporting our obj8ctlvo$ Our supported housing Servi successfvlly registered with OFSTED and is online to reach target capaeity by July 2024 which is line with our forecast. Our Childcare setvices reduced lo'temi lime only which had not been Lviginaly planned at the start of the year bul has SUPPOrted finanryal sustsinability in the long temi. Over 2(M) children benefited, beyond our expectations, Our community and youth services successfully ddiverèd oulcom8s requlred fmm over 20 grdnl schemes. Pag8 7
MANCHESTER SETTLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Dlgltal Skills groups and Gks8e8 Arts and crafts groups ESOL classes Convèrsation dubs Well Women peer supp¢Jrt groups Health Champions training First Aid training Stay and play childco sessions Nutsery education and care lo 4 years After school club daily sessions PSHE for asylum seeking your people Edv¢alion advocacy for young p8ople School holiday healthy eating clubs Youth led cuKuTe within all our ywth provision Free or lowest possible cost adivlty Welcoming, frlendly. caring spaces Renowned provision fcy SEN children 8engficiaries have 30+ nallonalities Targeting activity at excluded individuals Tglephone b@friendiro for i8olalgd individuals Ensuring suitable access lo Ihosg wlh18arning and oth8r disab*lili&s Engaging people with mental health iSSUgS Advocating for vulnerable young people Celelyating diffarenl cuttures and religions Youth twslee Youth nels New friendshlps created daily Parents groups create support groups Parents What$App group I noti board We ¢onstantly strive to bring isolated people into posittve group environments Our supported housing work 15 based upon creating social networks We are a trusted sourco inlorrnation on local agencies Who19 youth offer atIrttJ communtty for the young people Food panty project One Money advicè seiC Be Well advice and support Signposting and information servke Cf(izens advice sessions Free Community Café Free stay and play sessions Striving lo be lowest cost chlldcara provider in the area Pop Up school uniform shop Supporting benefits application$ Fre9 youth a¢livitses and trips Free food and drinks provided daily Free holiday activities and a hol meal Budgeung skills for school aged throu h lo adults Wellbelng Wednesday8 Thursday community thop In Signposling to specialisl advice Covtd Health Equtty Work T81 Chi I senior exerGise I massage Senior Calch Up gTOiIPS Buggy walks Early help I fofflily support approach ensures g¢)o(J wlerTal lo other supporl PHSE pmgramme for asylum seekers Links wtlh exlemal support agencies e.g.. CAMHS. 42IWJ Str8et, Eclypse l Mind You Malter project lasting Openshaw Community Organisations Network is lacililatad Objectives in place to secure fun(Js lo pass tsn to community groups Free space provided foi community groups lo grow their proiects 40+ volijnleers per year are supported such that they can improve themselves and the livès of olhers Volunteer project ideas are invesled in Cofflmunlty members have continual voice In our strategy and how we deliver Page 8
MANCHESTER SETTLEMENT TRUSTEES. REPORT YEAR ENDED 31 MARCH 2024 CONTEXT Manchester Settlement has been providing an evolviThJ mix of seNices lo the resldents of North Manchester for 130 years with the objective of enhancing the lives of communtty memb8rs through projects to improve health, educallon and mmunity development. Thg objectives for this work were relevant 125 years ago and ¢onlinue lo be relevant In 2023. The refreshed 2020 Our Manchester Strategy hlghlights the areas of strength and otvjrtunity wthin Manchester. and areas ol conlinuing d)allenge within Manchester. Health: Moncunians have sm of the poorest heatth in the country e.g. healthy lrfe of below 58 years arKI high deaths from cancer. heart, and Tespiralory illnesses. Poverty= In March 2019, around 45,150 children under 16 lived in Iow4n¢ome househdds {41•A) In Monchester compared with the average of 30QA across th8 rest of the country. A falr economy: Tw many of our r8sidenls have insecure work and lower pay compared to many worters who work in our city. Fewer Manchester residents (780A) eam at least Ihg Real Livlng Wage, ompared to all workers in our cty 187%). and hall of residènts wlth no or low qualffications are un8mployed. Affordable housing.. Manchester has committed lo creating 32,000 new homes by 2025: this muyt include a range of affordable homes across the city to support diverse communities. Climate ¢hange= The city has committed to becoming zoro-carbon by 2038 at Ihe latest and the Council declared a Climate Emergency in July 2019. Brexrf('. The UK'S departure from the Euroan Union près8nls a challenge for mary buslnesses and our communllies. Monchester S8Wement conlinu8S to bulld the rapacty of those who may face these barriers to have the best chances lo tske part and contribute to the developiThJ cuUral and economic vision for Manchester. FINANCIAL REVIEW The charity ended Ihe finorrial year In a very positive financial positi. The availability of grants to support our lOng.ter charitsble work and the business SUPPOrt grants available lo us ensured that we were able to not rely upon subsidising service delivery from other charitable funds. The previous and thls years. legacy fund has allowed for the selected sUPPOrt of charity funded projects that would have had to Gease otherwise. Our principal sources of funding during the year continued lo be unrestricte¢J f88 funding from the Sales of child¢are places and rental income from our houses plus restricted grant lunding for se1¢$ development ol delivery projeds.. these are all recorded as income from charilablo activities - 98.919A of the lolal income of the charity 12023.. 96.340AI. The other 1.09V/o is deriv from voluntsry donatK)ns and investment inGome. The proportion of income from charitable activities in the year 2024 is higher duts lo increased activities duriro the year. Overall, (Alr income increased by 7.61tl/• Gompared to the prevk)us year12023 saw an increasts of 13.2&101. Our risk management pLgn focu8SgS th6 attenllon of Irusloes and managers upon are88 of financial volatility on a monthly basis. Our budget for 2024125 predicts a surplus of £60K which has been agreed by the board. The budget utilises £206k of designated funds funded through the remaining £217k 18gacy fund r1ved in th previous and current years. The board have allocated this designated fund to mainly capital projects and developmonts that have a significant impact upon our benefarleS. In 2023124 restricted funds raised for projects support totalled £273,285 with associated èxpenditure of £245,211. In th¢ previou5 year restricted funds raised were £168.918 with expenditure of £174.342. Any reslri¢led funds un$penl are carried forward for use in following years where permitted. Going Concèm The trustee risk assgssment of the trading Conditions. Cash flow5 and reserves are that grant and contfacl funded activity will continue lo grow and to meet the necessary internal contribution charges. The high level of reserve5 enables the charity to designato funds to projects that further charitable objectives. The trustees conclude that the charity is a going concern and that there are no material uncertalnlies that cast doubl upon the ability of the charity lo remain as a going concern for 8t least next 12 months from the signing of tho accounts. Page 9
MANCHESTER SErrLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Investment powers and pollcy The trustees, having regard to the liquidity rgquirements of operating the charity operate a number of inslanl access current and depostt accounts attracting low levels of intere51 with high street banks. Balances are monitored to maximise PTole¢tlon from bank fallvres. The Flagstone account management plattom has been adopted lo slmplty th8 management of multiple accounts. Rlsk Management The trustees havo a risk management strategy which compris8s of.. an annual review of the prindpal risks and uncertaintitts that the charity faces and the establishment of policies. systems and procedures lo mitlgate those risks Klenlified in bi-rnonlhty uwlales regarding slgnificant changes lo the risk register. the implemenlalion of proc8dures d8slgned lo minimlso or manage any polentlal ImpaGI on the charity should those rfsks malerlalise. Thls work has idenllfi8d that the key risks for the charity and th& k8y actions are: l Risk Actlons to roduce risk FJLIM erso rus Progress wth Gurrenl recrultment aclfvity Loss of daia leading to harm lo staff or service Implement findings of cyber security review ysers. financial loss and other 4amages. NuTserylChlldca demand Iluctualtons crgaie Improve nursery marketSng through a full year an unstsble finanoal position maTkoling cycle Reserv•8 Pollcy The Irust88s operate a risk-based approach to identifying an ideal level of r&8erves that will give our partners and stakeholders confidence that the organisation is robust, whilst demonstrating wo maximise the impact of our funds upon beneficiaries. The nature and variability of our contracts and income along with our contractual commitments impact upon our risk analysi5. The risk analysis has identified that an absoluts minimum of the months of operating ¢osts should b8 maintained, but that six months of operating costs would enable us to deliver a well-manag8d service that would allow us to ensure a high4Juality redesign or transfar of assets and activities for the benefrt of our beneficiaries. For 2024125 our minimum level of reserves is required lo be £370.250 with a target level of reserves of £740,500. Of the UnstrICted fund of £1.150.081 {note 151 £383,205 has been ulilised lo fund the freehold houses {2024= £263.0091, £42.804 fixtu$ and fittings 12024.. £37,495) and £87,330 to fund refurbishment 12024.. £51,253). Al the 31$1 March 2024 there were £636.742 of free rgSOtves12024: £632,900) which is w¢lhin the tsrget range for fr8e reserves. The management team will ciosely monitor Income and expgnéiture during the forthcoming yeai and dgpendirvJ upon financlal parformanc8 vlll seek to inv8sl any surplus reserve to secur8 long t&rm public benofrt. Pay polley for sgnior staff DireGtor¥ are not paid but may claim expenses incurred. The salary s¢ale of the Chvdf Executive is approved by the lull board of Iruslees foll¢)wSng an analysis of CDmparallve organisalions and a performance review. Page 10
MANCHESTER SETTLEMENT TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 Fundralsing The charlty had fundraising aGtivitie8 reouiriro disclosure under S1624 of the Charthes Act 2011. Post Roportlng Y•ar Evgnts The charity signed an agreement for a LOaGrant P80kag8 from Ihg Social Investment Business In early April 2024. The finance package was for a totsl of £150k. 75% Loan (over 3 years) and 250A grant. The fundlng package is Testri¢led to the purchase, refurbishm8nl and project management costs r8lRtlng to the purrhase of a 2 bedroom property to add capacity lo our supported housing project. Tru5t•¢$' responsibllltlos in relall¢n lo the flnan¢i¥l stat8menl$ The charity trustees (who are also the dlrectors of the Manchester S8ttlement for the purposes ol company lawl are responsible for preparing a Iwslees, annual r8POrt and financial slalements in accordance with applicable law and United Kingdom Accounting Standartls Iunited Kingdom Generally Accepted Accounting Pr8Ctice)- Company law requires the charity trustees to prepare ffinancial stalements for &ach year give a true and fair view ol the slate of affairs of the Charrtable company and of the ino)ming resources and application of resources, including the income and expenditure. of tha charitable company for that period. In preparing the financial slatemenls. the Iruslees are requirèd to= seled suitable accounting policies and then apply them consistently. observe Ihe methods and principles in the Charilies SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable UK accounting standards have been ftillowed, subigct lo any materlal departures disclosed and 8xplained in the financial statements- prepare the financial slatem8nts on the golng concèrn basls unless it Is inapproprlate to pre$Un that the charity wlll continue in business. The Irustsès are responsible for keeping proper accounting records that dtsckn8e with reasonable accuracy at any lime the financial position of the charity and to enable them lo ensur8 that the finan¢ial slalemenls compty with the Companies Act 2006. They are also responsible for saleguardlng the assets of the charty and hence tsking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenanc¢ and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation in the United Kingdom governln9 Ihe preparation and diss9minat of financial stalements wnay differ from legislation in other juri5diclions. statem•nt as to dls¢lo8ure to our audltors In so far as the Iruslegs are awar8 al the time of approving our trustees, annual report there is no relevant information, being information needed by th8 auditor in connection with preporing their r8POrt, of which the harity's auditor is unaware, and the trustees, having made enquiries of fellow directors and the auditor that they ought to have individually taken, have each tsken all 6tsps that helshe is obliged to take as a director in order lo make themselves aware of any relevant audit infomalion and to establish that the audiler Is aware of that Nifomali)n. The Twstees have takan advantage of the small companies exempuons provid8d in section 415A of tho Compani8s Act 2006. By orderof the board of trustees Maria Lester- Chair 18th July 2024 Page11
MANCHESTER SEThLEMENT INDEPENDENT AUDITORS, REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2024 Independent Auditof s Report to the Members of Manchester Settlement Opinlon We have 8udi18d the finan¢lal statements of ManGhesler S&ttlem8nt I'th8 charitabl8 company) for the year ended 31 March 2024 which comprise Statement of Financial ACtltieS, Balance Sheet, Statement of Cash Flows and notes to the finanaal ststements, including significant accounbng policies. The financlal reporting fr8mework that has be8n applied in their pieparation is applicable law and United KinOM Accountin9 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard appltcatle in th& UK and Republic of Ireland (United Kingdom Generally Accepted A¢UntIng Praclicel- In our opinion the financial statements: give a true and fair view of the slote Of the charitsble company's affairs as at 31 March 2024 and of its income and expenditure. for the year thon ended. have been properfy prepared in accordanoe with Unlt811 lQngdom Gengralty Accepted Accounting Piaclice.. and have been prepered in accordance with the requirements of th& Companies Act 2006. Basls for oplnion We conducted our audit in ocwrdance wSlh Inlemalion81 Standards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the ALMlitor's responsibilities for the audit of the financial stslements section of our report. We are independent of the charitsble Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethul Standard, and we have fulfilled our other ethical responsibili118s in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Conclusions rolatlng lo going con¢ern In auditing the financial statement5, we have concluded that the trustee's use of the g(Mng concern basis of 8ccoiJnbng in the preparation of the financial statements is appropr4ate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, indivldually or collectively, may cast signlficanl doubl on the charitable company's abillty to continue as a going concem for a pariod of al Igasl Iwelve months from wh8n the financial statements are authDrfs8d for issue. Our responsibilities and the rgsponsibilrties of th8 trusteès wllh respect lo giing concern ale doscribed in Ihg relevant soctions of this report. other Inforniallon The trustees are responsible ft)r the other information contained within the annual report. Th8 other infomation comprisès the infomialion included in the annual report, olh8r than the financial slalements and our auditor's report thereon. Our opinion on the financial statements does not Ver the other infomiation and. except to the extent otherwise explicitly slated in our report. w8 do not express any form of assurance conclUsD thereon. Our responsibilty is to read the other information and. in doing so, consider whether the other information is materially in¢onsistenl with the finanrial statements or our knowledge obtained in the audtt or otherwise appears lo be materially mtsstatèd. If we identify such material inconsistencies or apparent material misslalemenls, we are required to determine whether this gives rise to a materSal misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that the kq 8 material misslatemenl of this other infomlation. we ère required lo report that facl. Wo have nothing lo report in this regard. Page 12
MANCHESTER SErrLEMENT INDEPENDENT AUDITORS, REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2024 Oplnlons on other matters proscribed by the Companio5 Act 2006 In OUT opinion based on the work undertaken in the course of our audit the informalSon gwen in the trustg9s' report, which includes the directOTS' rep prepared for the purposes of company law. for thg financial year for which the financkg181alemenls are prepared is conslslenl with the financial slatemenls,. and the directors. report includ&d within the Irusleos, r8POrt h8V8 been prepared in accordance with appllcable legal requlrements. Matters on whlch we are required to roport by èx¢eptlon In light of the knowledgg and understanding of the charitable company and their environment obtsined in the course of tho audit. we have not idenlified material misstatements in the diredors. report includ8d within the tru5tees' report. W8 have nothing to report In r&specl of the following matters In relation to which the Compan188 Act 2006 requires us lo r8port to you rf, In our opinion: adequate and proper accounting records have not be¢n kept- or the financial statements are not in agreement with the a¢untIng records and r8tums'. or certsln disclosures of trustees. remuneratSon specified by law are not made- or we have not received all the inforrnalion and explanations we require for our audit- or the trustees w6w not entitled to prepare the financial slalements irh accordan¢8 With the srn811 companies regSme and lake advantage of the small ¢omp8nies' exemptions in preparing the Iwstees. directors, report and from the requirement to prepare a strategic report. Responsibilitiès of trustees A5 explained more lully ir) the Iruslees. responsibilities ststement sel out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the prepaRlion of the financial ststgmenls and for being satisfied that they give 8 true and fair view, aNJ for such inlemal wntr as the trustees determine is necgssary to enable the preparation of financial statements that are tree from materlal misststement, whother due to fraud or error. In preparing th8 financial statements, the Injslees a responslble for as8esslng the charrtab company's ability to Continue as a going concem, disclosing, as applicable. matters r8laled to going concem and using the going concern basis of 8ccounling unless the Iruste8S 8lther intend to liquidate charilablo company or to cease oper81ions, or have no realistic alternative bul lo do so. Auditovs respon5ibilltles for the audit of tho financial statements Our objectives are to obtain reasonable assurance about whelher the financial statements a¥ a whole are free frorn materi81 misstatément, whether due lo fraud or arror, ané to issue an auijitor's report that includes our oplnlon. Reasonablg assuranc& is a high l&v81 of assumn¢e. but is not a guarantee that an audit ccmduct8d in accordance wllh ISAS IUKI will always detect a material misslalement when it oxists. Misstat8ments Can arise from fraud or error and are consldered material if, Sndividually or the aggr8gate. they ¢ould reasonabty be expecl8d to influen¢e the economic decisions of users tsk8n on the basis of these financial stslements. Details of the exlenl to which the audit was considerad Capab of detecting irwulartties, including fraud and non-compliance ¥th law$ and regulations are sèt ovt below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or This description forms part of r auditor's report. Extent to which the audlt was consldered Capable of detecting irregularities. including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks ol material misslalemenl of the financial slalements from irregularities. whether due lo fraud or error, and discussed Iheso between our audit tèam members. We then designed and performd audit Page 13
MANCHESTER SEThLEMENT INDEPENDENT AUDITORS, REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2024 proGedures responsiva to those risks. including obtsining audit evidence Sufficiènt and appropriate to provide a basis for our opinion. We obtained an understanding of the le981 and regulatw frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct eff8¢l on the determination of material amounts and disclosures in th8 financial statements. The laws and regLslalions we considered in this conlexl were the Companios Act 2006, the Charities Act 2011, together with the Charities SORP IFRS 1021. We gssessed the required compli8nc8 with these laws and regulations as part of our audit procedu$ on the relat8d financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance wth which might be fundamental lo the charitable company's abS1ity to operate or to avoid a material penalty. We also consid8r8d the opportunltles and incenllves that may exist within the charitable company for fraud. Th8 laws and regulations we considerod in this ¢ontext for the UK operations were employment legislalion, taxation leglslatKin and health and safety legislation Audf(ing standards limié the required audit proceduros lo idenlrfy non-compliance with these laws and regulations lo enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of malerlal impact on tha flnanclal statements from irregularthes, including frautl. lo be within the liming of recognition of grant and contract income and the override of control$ by management. Our audit procedures lo respond lo Ihese risks included enquiries of management. sample testing grant Ogreements from source agreement to posting in the norninal ledger, including local authority funding clairns, sample t8sling on the posting of journals. reviowlng aoUntIng estimates for biases. reviewing r8gulalory ¢orr8spond8n¢e with the Charity Commission and r&ading mlnutes of meetings of those charged wtth governance. Owing lo the InhenI Ilmitations of an audll. therè is an unavoidable risk that we may not have detected scfne material misslatem8nts in the financial statements. even though we have properfy planned and performod our 8udtt in accordance with auditing Standards. For example, the furth8r removed non-compliance with laws and regulations lirregularitiesl is from the events and Irdnsactions reflected in tho finan¢i81 slatements. the less likely the inherently limitéd procedures required by auditing standards woutd identify it. In addilion, as with any aud(t, there rèmained a higher risk of non-dele¢tion of irrègularities, as these may involve collusion. forgery. intentiorbal omissions. misrepresentations, or th8 override of Intemal controL%. We are not responsible for preventing non-compliance and cannot be expected to detect non-compli8nce with 811 Jaws and Tegulalions. Uso of our report This report is made solely to the charitable company's members, as a body, in a¢¢ordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we 8re iequired lo stale lo them in an auditor's port and for rK) olher purpose. To the fullest extenl permitted by law, we do not aGcepl or assume responsibility lo anyone other than the charitable company and the charitablo company's members as a body and the charitable company's trustees as a body. for our audtt work. for this reporL or for the opinions we have formed. Vlcky Szulist Senior Statutory Audllor For and on behalf of Crowe U.K. LLP ststutory Audltor The Lexicon Mount Strèet Manchester M2 5NT 19th july 2024 Page 14
MANCHESTER SEThLEMENT STATEMENT OF FINANCIAL ACTIVITIES (incorporatlng an income and expenditur8 account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted nds Restri¢ted Total funds Totsl funds fjjnds 2024 2023 )te Incom• frorn: Donations and legacies Charitable actiwties Other tRding actiiitie$ InSIMOnt8 2,316 1,038,522 47,630 12.693 2,316 1,311.807 47.630 12.693 44.373 1,211,145 19,354 2,350 273.285 Tolal 1.101,161 273,285 1.374,446 1,277,222 E%ndItUre on: Charitable actimtiès 1,024,821 245,211 1,270,032 1.156,644 Totsl 1,024.821 245.211 1.270,032 1.156,644 Not ineomln9 resourc•$ before tran*rs 76.340 28.074 104,414 120,578 Gain on IrNestment$ Transfers 10 15 894.534 1894.534) Net movement in funds 970.874 1866.460 104.414 120.578 R0C111atic of fvnds-. Total fLmds brought fr)rwMrd Total funds earrled forward 15,16 15.16 2,874,390 3,845,264 958,610 92,150 3,833.000 3.937.414 3,712.422 3.833.000 The charity has no re¢¢gnised gains or losses other than the results for the year as above. The notes on pages 18 to 32 form part of th•so accounts Page 15
MANCHESTER SEThLEMENT BALANCE SHEET Registered company number. 0024167 AS AT 31 MARCH 2024 2024 2023 Note Flxod as8ets Tangible assets IntMentS 2.991.345 40,000 2,645.449 40.000 10 3,031,345 2.885,449 Curr•nl as*ts Debtors 87,035 886,215 973.250 99.176 1,114.939 1.214,115 Cash Credltors.. amounts f•lllng due wlthln one year Net CLtrrenl assets 187,181) (66.$64} 12 9c6,069 3,937,414 1, 147.551 3.833.000 N•1 asfets Funds Restrict 16 92,150 958,610 UnreslriGted'. Designated funds Other 15 2.695,783 1,150,081 3,937.414 1,889,733 984,657 3,833,000 The financial ststements have been prepared in accordance with the provisions applicable to MPanieS subject lo the small companios regime and in accordance with the Provisions of FRS 102. These financlal statements were approvgd and authorlsgd for issue by the board of Iruslees on the 18th July 2024 and are signed on their behalf by- Maria L8ster Th• notes on pag•s 18 to 32 tomi part of t$• accounts Pag6 16
MANCHESTER SEThLEMENT CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2024 Cash flow Statom•nt 2024 2023 Cash Inflow$ I loufflow¥l from operating aetlvitit$ Net cash proiqded by operatirvJ actiNitie$ Cash Flows from Investing actlvltles Bank interest reGeld Purchase of flxgd assets Net cash appli to IntIng actimties Cash Flows from financing •ctlvltles Change in cash and cash eqUilent$ In the ygar C•sh and cash equilent5 at tho beginning of the year cash and cash •qulvalent8atth• •nd of the year 17S031 172.121 12.693 416,4481 2.3 121.3861 {4047551 (19,036 {22{724} 153.085 1.114939 961.854 886,215 1.114.939 Statement of Nel D•bts Amount Brought Fonmard £1.114.939 C•thflow ount C•rrled Forward -£228.724 £886.215 Not Movement In Funds 2024 2023 Net movement in fvnds for the r•portlng porlod las p•r the Statgm•nt of Financlal Activltles) Adjustments for. DePrltiL t8leSt Teceiw 104.414 120,578 70.S52 112.693) 12.141 617 65.262 12.3501 (22.8981 11,529 lkncTea38yDecrease in debtors re8sellDecreasel in creditors Ngt ¢4sh provlded by operating actlvitie$ 175.031 172.121 Tho notes on pag9$ 18 to 32 form part of th0$0 accounts Pag¢ 17
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION Manch8sler Selllemenl is a private company limited by guaTrnlee and a r8gistered charity. The registered olfice and principal address is 1328-1330 Ashton Old R¢)ad, Openshaw. Manchester. M11 1JG. The charity is incorporated in the UK. ACCOUNTING POLICIES Basls of accountlng Thè accounts hav8 been prepared under Compani8s Act 2006, and in accordanrE with the Financial Reporting Standard 102 {FRS 102} and follow the r8commendotions in 'Accounting and Reporting by Charities.. Stst8menl of Recommendod Practice" issu&d in 2015 Ir8vised l October 20191. The charity meets the deflnition of 8 public benofft entty. Golng Concern As disclosod in the Chalr's Report on page 2 and the Trustee's Report on page 5. the truslees asses$m8nt of the tradlng conditions. cash flows and reserves is that with new inflationary pressures. plans are in plac8 to mediate the Impact, and flèxibiifties exist Ihal wlll enable the management team to reduc8 c051s In a timely way should trading con¢Jillons require it. and conclude thal the Charlly Ss a going conc8rn. It is therefore fell that there are no material uncertainties Ihal cast doubt upon the ability of th8 charity lo remain as a going concern for at least next 12 months from the signing of the accounts. Incomlng rnsources All income is recognised in th8 Statement of Finan¢i81 ActlI1e$ when the conditions for receipt have be¥n mel and there is reasonable assurance of receipt. Donatlon6 D¢)n8lions Include amounts racefved under Gift Aid tog8lher with Income Tax recoverable Ihereon. R•sour¢•s expended The costs of projects. fund-raising and publicty, and monagement and administration ¢omprise expenditure. including staff costs. directly attributsble to the activity. Vvhere costs cannol be directly attributed to specific a¢tivities they have been allocated to core costs which then recharged to each delivery area on the basls of proportionate use of square footage in the premises. Ch•rftable expendlture Includes all expendilure directly related to the oblecls of the tharity {in accordance wth the SORP} and mprises proSeGt costs. grants and directly attributable support Costs. Governance costs indude those costs incurred in Ihe govèmance of the charity's assets and are aSSocled wrth conslilulional and statutory requirements. Fund accountlng Unrestricle¢J furKYs ore available for use at the éiscrelion of the directors in furthèrance of the general charitsble cbjectives. Restricted funds represent funds reived whose use is subject to restricti)ns imposed by Ihe donor. Designated funds reprès8nt fvnds earmarked for a particular uso by the trustees. Page 18
MANCHESTER SEThLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 2. ACCOUNTING POUCIES Icont.) InY•stment as$•ts Fixed asset investments comprise a Lowry dr8wng whlch Is included al the trustees. best estimate of market value, infomed by expert advice. Deprg¢latlon Dep18cialion is calculated so as lo write off the cost of an asset. less its estimated residual value. over th8 useful economic Iwe of that asset as follows.. Fixtures and fittings Leasehold propgrty Land and buildings Refurbishment 25% p.a. straight line 149 years straight line SO years straight line 15% p.a. straight line a$s8ts costing more than £500 are capitslised al cost. Assets of a lower cost that are detemiin8d lo have a useful 8conomic1rf8 of 4+ years may al be capilalised at cost. Assets obtained during quarter 4 are depreciatell in the following accounting year. Long leasehold property is assessed 8nnually for indications of imp8imienl and if necessary the carrying vBlue reduced accordingly. Dèbtors Trade debtors are r&¢ognised al the settlement amount after any trade discounts (Jffered. Prepayments a valued at the amount repaid net of any Irade discounts due. Cash at bank and In hand Cash at bank and in hand includes cash 8n(I short lem highly liquié investmpnts with a short maturity of three months or18ss from the dale of aUl$ll10n or opening of the deposit or similar account. Credilors Short tam) crgdilors are measured * the trans8clion price. Other financkgl liabililies, including bank loans. are moasured inittally at fair value, nel of transaction c08ts, and are measured subsgquenlly at amortised cost using the eff8clive interest method. Flnan¢lal In8trum•nts The company only enters into basic financial Snslrumenls transactions that result in the re¢ognilion of financSal assets and liabilili8s like trade and other accounts receivable and payable. loans from banks and other third parties.108ns to related parties and invèstments in non-puttable ordinary shares. Financial assets that are measured at cost and am(*lised cost are assessed 8t th8 end of each reporting period for objective evidence of impairmenL If objective evidence of impaimient is found. an impairment loss recognised in the Slalement of Financial Activrty. Penslon G05ts The ch8rlty operates a defined contribution pension scheme for employees. The assets of the sthem8 are hel¢J separately from those of the charity. The annual contributions payable are charged lo the Statement of Financial Activities. Page 19
MANCHESTER SETTLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 2. ACCOUNTING POLICIES (cont. Termination payments The charity accounts for tem)ination payments in the accounting period they are announced. JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF UNCERTAINTY The company makes eslimales and assumptions conceming thè future. The reSU{n9 a¢counting estimates will. by dgfinition. seldom equal the relalèd actual results. The estimates and assumptions that have a signrficanl risk of causing a materi818djuslment lo the carrying amounts of assets and liabilities within the next financial year are addwssed below. 11) Useful economlc VeS of tangible assets The annual depreciation charoe for tangible assets is sensitlve lo changes in the estimated useful economic Ilves and residual values of the assets. The useful 8conomi¢ lives and residual values are re-assesseij 8nnually. They are amended when ne¢8ssary lo ref¢1 current estimates. based on technological advancement. future invostmanls, economic ulilisation and th8 physical condition of the assets. See note 10 for the carying amount of Ihe fixed assets, and accounting policitis for the useful economic Ilves for 8ach ¢lass of assets. lill Impaimient of debtots The company mèkes an eslimats of th8 recoverable value of trade and other d&bte. Trade dèbts have 1>88n reviewed by the management tsam and trustees. only Ihoso with a re8llstic chancè of r8covery have remaln8d as assets. When assessing impairment of trade and other debtors. management Considers factors including Ihe ¢urrenl credit rating of the deblor, the ageing profile of debtors and historical experience. Seg note 12 for the nel carrying amount of the debtors and associated impairmenl provision. liiil Key sources of estimation uncertainty Approximately £484.000 of the forecast incomè in 2024125 comes from fees. it indudos £470,000 fees from the nursery antj childcaTe service. The demand for these seNices is very sensitive lo the ability of parents to pay nursery fees. Actual fè8 income r1Ved in April 2024 has beon in line with the forecast. Page 20
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 23 Re5iduary Legacy C¥)nations 1,335 42,750 1,623 44,373 CHARITABLE ACTivrriES Grant5 and contracts other 2024 Fees Young Péople's Housing Project Community Dthelcpn8nl Childcare 581.350 263.784 7,949 17,835 32,879 58,663 589,299 281,619 440,889 1.311.807 408,010 408,010 845.134 Grants and Contracts otTr 2023 Young Peoplg's Hsir0 Project Community DeNplopment Childcare Organisational DèKdopment 512,544 155,751 4.167 .250 707 712 10,869 18,396 34,860 523,413 174, 147 478,335 35,250 1.211 145 439,308 OTHER TRADING ACTIVITIES 2024 2023 Room Hire con9tanCY 38.830 8,800 47.630 19.354 Page 21
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 RESOURCES EXPENDED Charltable Activities P£tivrti95 undertaken directly Support Total 2024 uses 6.319 411.964 218.019 383,502 1.019,804 6,319 524.567 293.087 446.059 1.270.032 Young Peoe$ Fknusing Project Corrmunity D@10pn*nt Childcare 112.603 75.068 62.557 250,228 Supp¢rt Costs 2024 Acti%ity eXnSeS Ulilities Repairs and maintenance Rates and fracilities management Sl811 costs Dopreciatlon surance 1,314 26,466 21,439 118,92B 28.444 6,706 705 25.992 900 miscollarlIS èxpenses Office costs Professional fee8 239.260 GrnanCt costs Auditors. remuneration 10.968 250,228 Page 22
MANCHESTER SErrLEMENT NOTES TOTHE ACCOUNTS YEAR ENDED 31 MARCH 2024 Charftable Activities ivities undgrtaken directty Total 2023 Support Ftjuses Young Peoples Fbusing Projecl CoNmJnity DpnI ChildGare 6,319 329,042 170.116 407,730 913.207 6.319 109,547 £ 43B.589 36.516 £ 206.632 97 375 £ 505.105 243.437 £ 1,156.644 Support Costs 2023 Actlmty expenses Ulilities Repars and malntenance Rates and fracilltles management Staff costs Depreciatlon Insurance Miscellan80us expenses Office costs Professional foes 1,034 22.302 17.831 4.333 119,377 24.8 4.318 762 36.858 233,117 G0ManC costs Auditors. remuneration 10.320 243,437 Page 23
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 STAFF COSTS AND NUMBERS 2024 2023 Wages and salarfes Social sfjcurity cos15 Pensi¢)n costs 691,278 $2.916 30.574 n4.768 672,989 45,663 27,692 748.344 2024 2023 No. Chlèf Execulikp clOrdInatC(S Project worf(ers Administraliw wrjrkers 27 32 37 42 Total number of staff includes large number of part time workers. Ono member of staff received ramuneration in excess of £60,00012022123: one). During the year. no trustees had travel expenses reimbursed12022123= nonel- No trustee reiVed remuneration or benefits in kind during Ihe year. The key management personnel disclosed on page 1 receNed aggregate remuneration, including employers Nl and pension costs of £80.03412022123- £74,238). There were no statutory redund8ncy payments rnade in the year ended 31 March 202412022123: non81. OPERATING SURPLUS Operating surplus is slated after ch8rging'. 2024 2023 staff penslon contributi$ Depreciation Auditors. remuneration 30.5T4 70.5$2 27.692 65,262 Pag8 24
MANCHESTER SETTLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Flxtures and L¢ng 1oa8ehold Freehold land fittlngs property and bulldlngs Refvrbithm•nt Total Cost or valuatlon At 1 April 2023 Additions In the year At 31 M8rch 2024 166,630 24,367 190,997 2,244,252 207,239 2.451,491 635,457 126,586 762,043 137,898 58,256 196,154 3,184.237 416.448 3.600.685 Depreclation At 1 April 2023 Charge for th8 y*ar Al 31 Mar¢h 2024 129.135 19,058 148,193 209.639 16,6L 226,245 113.369 12,709 126.078 86,645 22,179 108,824 538,788 70.552 609.340 Not book valu• At 31 March 2024 At 31 March 20YJ 42,804 37.495 2,225.246 2.034,613 635,965 522.088 87,330 51,253 2.991.345 2,645,449 The "Deed of Surrender. which transferred the sub lease of parts of the buildlng from the LTE Group back lo Manchester Settlement was completed on the 271hof April 2023. 10. INVESTMENTS Movemenl in market value 2024 Markèt Kolu$ at 1 Awl 2023 Market lue at 31 March 2024 Histortcal cost at 31 March 2024 500 The L. S. Lowry drawlng is included in the accounts al £40,000 being the valuation on 4th April 2022. Trustees consider the value to remain the same as al valuation date. The drawing is held in safekeeping by the Whilworth Art Gallery. Manchesler, who have provided the valuation of the érawing. 11. DEBTORS 2024 2023 Tiade debtors Other debtors 38.7Qfj 48,329 58,946 40.230 87.035 99.176 Page 25
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 12. CREDITORS: Amounts falling due wlthln one year 2024 2023 Trade creditor3 Taxation and social seeurity Accruals and deferr8d income other credlto 13,111 11,814 30,234 11022 10,100 12,873 27,790 15,801 67,481 66.564 13. DEFERRED INCOME Amount as al 3110312023 Avnount released Amount deferred In the year Balance as at 3110312024 6,700 {2001 10,835 10,835 Deferred income consists of funds received for activities lo be undertaken from 1•1 April 2024 such as Volunteering celebration event and Environmentsl and other developm8ntal proj8cls. Amount as 813110312022 Amount releasad Amount deferred In the year Balance a$ at 3110312023 4,500 11.0001 6.700 6.700 14. FINANCIAL INSTRUMENTS 2024 Financial asset$ that are me8sur8d at amortised cost.. Cash held Trade debtors Othgr debt0 excluding prepaymènts 886,215 38,706 1.114,939 58,946 1,196 924951 1,175,081 Page 26
MANCHESTER SEThLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 2024 2023 Financial liabillties that aro measured at amortised c¢$1: Trade creditors Other creditors A¢cnJals 13.111 8,$55 6,667 10.100 9.282 10,770 28,333 30,152 15. UNRESTRICTED FUNDS Balane• at 1 Aprll 2023 Ineomlng resources resourc•s Outgolng Balanc• at 31 March 2024 Transfvrs Dèslgnated fvnds Flxed asset ftjnd Houses Lease purchgse fvnd Residu8ry Legacy 1,140,080 259,079 210,000 280,574 1.889,733 (16,607) {6,319) 1.101,773 2.225,246 252.760 {210,000) 1.335 1.335 {64,732) {87,658) 217,1TT 2.695.183 891.773 Unro¥trietod fund$ othèr chaiitable funds 984.657 1,099.826 (937. 163) 2.761 1. 150,081 2,874,3 1.101.161 11,024,821) 894,534 3,845,264 The frxed asset fund 15 designato¢J as the total value of the New Roundhouse building. Tho Houses fvnd is designated as tho vabje of thp funds invested in the five houses owned by the charity lo deliver charitable services. The lease purchase fijnd was fully utilised in 2023124 for lunding the Deed ol Surrender from LTE (Manchester College) for previously let areas of the New Roundhouse building. The Residual Legacy Fur ¢omprises of two lega¢y donations with no restricle(l elements received during 2020121 and 2022123. During FY 2023124 there was £64,732 utilised from Rgsidual Legacy Fund. Transfern A transfer has been made of £1,101,772 to refl8Ct the purchase of the lease from LTE group IManch8Ster Collegel for £207,239 and transfor of restricted New Roundhouse capital project of £894,534 amount roflecting LTE Imarbchester Collegel part of ownership lo the MS designated fixed asset fund. Pag8 27
MANCHESTER SETTLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 Balare 811 April 2022 Incoming rèsources Outgoing resources Transfers BalanGe at 31 March 2023 Designated fvnds Fixed asset nd Houses Lease purchase knnd Reslduary Le9aey 1.148,520 265,398 115,062) {6.319} 6.822 1,140,080 259,079 210,000 280,574 1.889.733 210.000 42,750 252,750 267,635 1,681.553 29.811 {51,192} 6,622 Unrestii¢led fvnds Other charftable funds 1.060,213 855.554 (931.110) 984.657 2 741 766 2 874,390 Page 28
MANCHESTER SETTLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 16. RESTRICTED FUNDS Balance at In¢omlng Outgoln9 1 Aprll 2023 resources r•sourc•s Trandèrs Balance at 31 2024 New RolhoUse capital prqect 4CT Limrted LandAld Charitable Fund F Be$wiek - Science actit18S The Big Life- Social Prescribin9 YPAC Manchester City Council - We Lo MCR Young MCR- OCON Young MCR- C(Mnmunrty Safety Grant MACC- Hate Crime MU NHS Foundation TnJst- Htrallh Creation FASD Our Manchester- VCS grant Our Mancheslgr- VCS fonm Austln and Hopo Pllklngton Trust 4CT Llmited - YIF Sported Foundation.. The Black hjentily Football Fund Barclays- Sp>ng Foundati¢Jn GMCVO The National Lottery Communlty Fund: Cost of LiKing Fund Manoh8ster City Councll - Warm Hub Manchester City Council - Community Art Thèrapy Manchester City Council - Our MCR Food Partr)ership Manchèster Lity Uouncii= Volunteènng 894.534 (894,5341 28,365 128.3651 12,6211 11,3221 13.0001 110.9451 11.5001 16,122 6,793 I3.1 5.471 3,000 11,046 1,500 3.319 13.3191 13.000) 3,000 500 500 70,000 137.6011 32.399 4.000 4.000 7,677 3.000 5,000 86,714 3.000 5,000 179.0371 4.1)00 14.0001 2,000 2.000 110 11101 11.2001 1,200 35,790 135.7901 12,5001 2.500 500 (6.983) 1.802 3.135 2,000 15511 1.449 MU NHS Ftwndation Twst - VCSE influence MU NHS F¢JJndation TTUSt - Locality Volunteering MU NHS Fwndation Trust - Equalit18$ Fund Community Foundations: Thg Fredmim Tmst Fund Ywng MCR- SEND 5.217 16.9671 3,250 4,020 113,4001 958,610 273.285 245.211 894,$34 92.150 Page 29
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 The New Roundhouse Capital Project relates to the amounts contributed by Manchester College who have been granted a long-term lease, which has been purchased through the year by MS. The Wellbeing and Community (Our MCR, 4CTI projects develop Community activities lo promote communty engagement in leaming, health and wellbeing. Fred B8swi¢k - Science ActiVTties fund is a onfroff donation over len years to suprK)rt science related activities wilh young p8opIe. Hate crime a grant from MACC to deliver actlvlts'es that promote hale Crime reportiThJ mechanisms. FASD is a grant that helps to facAlilat8 neOrkS of families caring for chiklren affècld by Foetsl Alcx)hol Spectrum Disorder IFASDI. LandAid Charitable Fund Is a capllal fund for refvrbishm8nl of housing for ywng people. Barclays - Sporting Foundation Is 8 fund to continue weekly football sessions for young asylum Seeke and refugees and to help them to aC$S coachinglrefereeing courses, buy new equlpmenl etc. Manchester City Council- Wam Hub is funding lo set up and provido access to pulAic community spaces. Manchester City Councll- Our MCR Food Partnership Cgpitsl i8 a furKI to refurbish food pantry r¢)om. MU NHS Foun¢Jation Trust - VCSE influence is 8 fund to contrlbute lo the cost of slrucluring rapresentation of the Voluntary se¢tor in local decision making. MU NHS Founijation Trust - Locallty Volunteering is funding to deliver an adh)n reseorch pre¢t investigating what makes for good local volunleefing. MU NHS Foundation Trust - Equalities Fund is fundlng to deliver a community health aducation 8nd engagemenl programme. Community Foundations -The Fred Mill Trust Fund is lo support general community actNilles. OCON is funding lo manage a partnership project dgveloping Op8nshaw community Young Manch&ster organisations. The Big Life - Swal Prescribing - used to deliver t8l&phone befriending seNces. YPAC- A partnership grant using Manchester Clty Council Funds lo daliver Youth and PIBY services. Manch&ster City Councrl - Community Art Therapy- a grant usèd for a Men's art project. GMCVO- payments for the delivery of learning sessions around wellbging. MU NHS Foundation Tiust - Health Creation - the uptske of winter vaccinations. Austin and Hope Pilkington Trust- a grdnt to enhance the education we prov#Je to asylum seekers. a grant to enhance the toolball sessions we provide for grant for the delwery of a community action leamlng project around Sported Foundation= The Black Identity Football Fund asylum 5etk8rs. The National Lottery Community Fund.. Cost of Living Fund a grant to cover additional costs in delivering services incuTr8d through the increased costs of living. and to irnprove organisational resilience to future cosl increases. Young MCR- SEND - a grant to d81iver S8¢h and Language focused play sessions for early years children. Young MCR- Community Saf8ty Grant- a grant for the dolivery of a Knlfe Crime Prevention project in our youth clubs. Page 30
MANCHESTER SErrLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 Balanc• at Ineomlng Outgolng 1 Aprll 2022 rosources r•soure•s Tran*45 Balance at 31 Mah 2023 New Roundhouse capital prolecl The 42nd Street - Wintèr Discharge Funds LandAld Charitable Fund F Beswick - Science 8GtiMties 901,156 16,6221 894.534 467 {4671 16,761 7,139 (8391 13461 12,5001 110,0001 110,0001 134.2931 16.122 6.793 MFT NHS - Colid Champions Projéet One MCR - Socld Recowry Fund MCC- Co)Ad Health Equity Fund Young MCR- OCON Manchester Cify Councll - 1st 11X)O days MACC- Hale Crime 4CT Limited - Culture Grant FASD Our Manchèstèr- VCS grant EYPP14cf knmitad 4CT Limi18d - YIF Li¥iro Planet Centre- Mobllising Community ClimBte Barclays - Sp)rting Foundation GMCVO 2,500 10,000 5.000 18,012 5,057 5.000 19,600 3.319 4, 167 19.224} 164 400 4,CA)O 500 7.500 (6641 17,900) 38.333 39,593 4,000 138,333) 139,593) 500 {5001 500 6,710 {3901 16.7101 110 Clty OfSl Action - YouThJ MCR Manchester City Couneil - Warm Hub Manchester City Coun¢ll - Winter Vaccination Project Manchester City Council - Our MCR Food Partnership MU NHS Founéation Trust- VGSE inff ugnce MU NHS Foundation TNst- Locality Volunteering MU NHS Foundation Tw$l- Equalities Fund Community Foundations: The Fredmil Trust Fund Young MCR- SEND Powgr to Change 500 15001 4,000 (1.) (2.5001 2,500 2,500 3,135 3.135 1.500 5.500 12831 5.217 9.380 9.380 5.IXIO 5.000 3.lYJO 8,(KO 168,918 3,000 970,656 (174.342) 16,622} 958.610 Page 31
MANCHESTER SETTLEMENT NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 17. ANALYSIS OF NET ASSETS BY FUND 2024 Unrefjtrlctèd R•strlcted funds funds 2023 Re8lri¢ted fjJnds T4)tsl funds 2023 Unrestrictad fijnds Total fur¥Js 2023 Tawible ffxed assets 1nStm8ntS Other ngt 85sots 2,991,345 1,750,915 894.534 2,645.449 2,991,345 40.000 813,919 3.845.264 40,000 906,069 3.937.414 40,0 1,083.475 2,874,3 40.000 1, 147.551 3,833,000 92,150 92,150 64.076 958.610 18. CAPITAL COMMITMENT Manchester Settlement has entered into a contract with Carey Electrical Engineering for capital goods and services. Al the year*nd MS has unpaid invoice for full cost of £6,311 foT electrical modificalK)n of rooms, which would be comFAeted over May- July period. 19. OPERATING LEASE COMMITMENTS The charity had total commltrnents under operalinglgases expmng as folbws.. Equipm•nt Pmp•rty 2024 2023 2024 2023 <1year 24 years
5 yeols 2.657 3.319 2.706 5.976 40,248 89,049 16.759 67,037 13,966 97,762 5.976 8.682 129,297 20. COMPANY UMITED BY GUARANTEE Under paragraph 8 of lh8 Settlement Memorandum. every member undertakes to contribute lo the assets of the Settlement in the event of being wound up while he or she is a member, or within one year after he or she G9asgs to be a member. for payment of the debts and liabilities of the Settlement contractad before he or she ceases to be a rnember, and of the costs, charges and expenses of winding up and for the adjustment of the Tights of the contributions among th8mselve5. such amounts as rnay be required. r1 exceeding £1 per member. 21. RELATED PARTY TRANSACTIONS There are no enlilies with significant conlroVint&rest OV8r the charity. There were related party IransactKJns with a sole trader (IA services), a close family member of a SMT rnember. All transactions were on normal commercial lemis, totaling to £2.111 in FY 2023124 IFY 2022123.. £2,048), wllhout an oulslanding balance al the year end. Page 32