FAMILY ACTION (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity number.. 264713 Company number.. 01068186 Isle ot Man Company number.. 6009F I￿e ol Mon Charity Number.. 1206 FAMLY ACllON REPORT AND FIP14NCL4LSTAIEMENrs FOR TrIE YEAR ENDED 31 MARCH 2024 CONTENTS rnJsleg5' report Independenl audhorfs report 26 Slatemenl of ftnanciol odivitles 29 Summary Income ond eXPend￿vre accounl 30 Balancè sheel 31 Slolemenl of cush fl 32 Notes to the slolemenl ofcash fiows 33 Notes lo the finoncial slalements 34 FAMLY ACllON TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Wdcorne from lan Hargrav4 Chair ol FomityAclicn This ha5 been another challenging yeor for FamilyAclion u5we hove continued lo rnarlagelhe considerable hardshlps caused by cosl of liwng pressuT85 on our service ￿er5, volunl*rs and statF. l am glud to repk)rtihal once agaln Ihe Chority. Ihrough excellent planning and management. has conMlluwJio pro￿de our essential 5ervlces withoul interruption ond l am proud olthe leadership, drive and deteTmlnolon that Forni￿A￿lOn shoskn% every day. Atoll limes Famlly Action's work is driven by Its volue5- Con Do, Excellence, P8ople Foojs and Mutual Respecl. (Khievements durfng the year induded.. Provlding over 170 Community-bas￿ ond national Services Ihal together reach hundred5 of thousands ol children, adults ond families,. Providing a nutrflious breakfosl to over 350,000 chlldrén a doy in disadvanloged areos through the Naliorial School BreakFasl Programme and achiewng an exlension lo the contrad to continueto deliver1he l￿Bp until July 2025., Managing some 9.000 conlactsto our FamllyLine servlce la freeldephone, laxl. webchal and email seNce for paren15 and carersl over the year; Crealing a new portnershlp with the Poundlond Foundallon lo support our FamilY￿ne se￿￿ and lo ￿elop Famil￿Ine'S digital offer,. Mak(ng 2.140 financlol grunls lo Ihe beneficlarles under our varfou5 grants schemas vlllh o total volue of £860.538.. Maintaining our large nelworkotFOOD Clubs In dired responselo Ihec¢)ntinulngfood insecurty resulting from the cost of Iwing pressur￿,. and Winning £2.9m in new ond relendered work over tho yeor across England and Wales, induding o large new contracl lo deliver Children and Fomily Cenlre5 Gloucestershire County Counal. Fami￿ Action celebrotes its 1551h bIrthdayth￿ year. Please support IhE5 fanloslic thurityto do even more. lan Hargrave Chair olTru5tees 19th September 2024 FANILY ACMON TRUSTEES. REFORT FOR THE YEAR ENDED 31 M4RCH 2024 Our Oblecttves To preserve and protecFlhe gcx)d heath lin partTcular mental heatshl and advancelhe education offamilies, indiyiduals and groups ￿h1n the communty. Ihe rellef of povertr and the rdiel of Ihose in need by re(son of yOL¢h, oge. ill-heollh, dlsablltty. finandal hordshlp or other disadvantage in such ways as the Trustees See fit. Our Purpose ond Admtt Al Famity Adlon. our vlslon is of a soclety Ihal vrider*ands the Importance and power ol family a5 0 foundollon for indiwdual funJre5 and conneded. resillenl communthe5. We support people through changè, challenge or crtsls. Ws what we've done for over150 years. We protecl children. supportyoung people and adults and offer dired. pradicol help lo families ond communities. We seefirst-hand the power offomilylo shape lives, for betteror wors4 so we speakup for Ihe importonce offomity in national ond locol polScymaking. amplify ftjmlly volces and repr&enl Ihe chtsnging needs olfamilies In Ihe UK today. Wè core dee￿V about Ihe children of lod¢Jy, the udulis of tomorrow and all of us here now. Ihe children we were and the people we could be In Ihe fulure. with the rfghl support. And Ihofs what we strive lo offer.. Ihe right support al the righl time - for ev￿ family in need and anyone who is, or ever has been, wllhoul Ihe supwrt of a family or familiol nehvorks. Through every oge and shJge of Ilfè, we have specialisland pradl¢al supportforihose in need. Communtly FOOD Clubs hdp with food ond essentials,. périnalol, parenting ond post-adoption support gwes fomllias the besl 51art In life, while our fomily support. wellbeing, hÉlpline ond counselling serwices hdp people shope - or reshape their frJtures for Ihemselves. AcriJSS all our services. we focus on.. Creating opportunlty ond Ilfe chances Promoting heohh. wellbeing and connededne55 Supporling famili￿ through all lrfe 5toges and major changes Helping lo build ond sustain s(rfe, suppot1ive rdallonships Amplifying famlly slorias und the voices of fomilies today Family Acmon supports hundreds of Ihousonds of fomilies, odults ond children o yeor Ihrough some170 community- based serwces across Engltsnd. Wales and the tsle of Man and o significanl porttollo of national service5. We help many more every yearwilh finonclol osslslance through our UKwide educamon and wdfare grant progrornmes and through our FaMily￿ne and via Ihe National School Breakfast Programme. OLJr seNices transform Ilves and a￿ grouped undw the followng nine theffles.. Earfyyeors and Per6nalal Services Ihal speciallse in supporling pregnonl people. ond parents ond Care￿ VAth children from birth lo 5 years. ol home. in famlly Centr￿ and In education setting5. Chlldren and Famllies Se￿(e5 Ihal provide support for thildren, young people and families where a whole family apprcM]ch to support is avoilabl& ServTces prowded Include= FAMLY AclloN TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 shortleFm targeted intefv￿ti0ns. support th specthc issues ond inlenslve support for lomilia5 wth complex and enduring needs., Evidenc&based parenllng programmes lo support chlldren's emothonal and sodal develotKnentr, Ernotional health and wellbeing seTrices Including counselllng ond therapeutic work lor children who hove suffered trauma, bereavemenf or abuse ond other speciallsl Servi￿ for children and lomilie5', Young Corexs semces including Wor￿ng wtlh schools lo idenlify and 5UPPOrt young corers ond Ihelr families,. Relolionship Support Including supervtsed conlad and wodwlhepa<hvFwek5bulmfJnfvlhGnk yoUhrI￿SnIng. I￿spOken k>1otsofproless￿noI5prf0rlo comingtopDuGndbst75fo/d no, hesfmeot5choolsoiheres n01h￿g wmng'and *eslo0￿UngIoronFh1n￿'. Wegolrefv56dfrom C41Mfvfjt7ndeur*h* oruinol*. schooldthi belwe/FFe Gndlf&lilikel kivsgoing cr02y. You tstrere Ile fir￿perSOn to uclualfytske IhG fymelo lislen s&Xos hishveself Io sUPPOrtandlo mokemefeelabeller under5triding of ks*(*cou/dFosWbe wrono, help Mlh woys lo manGgeXbutolso ad￿e onffiei4qhtsupportlo h￿broIha50ndlUsl1C checkln loseerfme bfrwe okkshKhlomso grotefu//or. As you knowlsLoYer wlh on￿etr bul otno p￿￿kd￿YOU mokg me feel uncomlortabl4 h /aLt quile Ihe oPp￿/e I leltlikg I could (Klucllyspeoklo you wihoLrflhlnking fmgoing modOrbe￿gIudgéd orn7akng ifup. You 171woy5 modexlhe focus wlJKh hosnlbeen Ihe c175e wilh olher51h(we spoken lo even ihough lom osking forhélp th hin he&nol uhuysbeen ihe rn￿n focus. lom happylo be eScal(*Édbul￿ fvrnlam quile unecsyas iolreody leellke ￿renOrgOIng logetl(7randlhoixknyihefocus,- 7honkwuloriourAlndMurdsofsupporf, wencourGgemgntnoltogveupand/ustlorb4ngolovelyyelprol2sslonol person Ihotoduallycores obourih6 cmdren ￿￿see.- The ToyAppeal: 7he ToyAppeolmean5 G/oifo ihe fcmilies Ihthhavwygoto lorandespLY￿lylo Ihek6s rholhi7vw7goloniihlng. Somelhingso Iiile canmean the k*Yldts Ihem-lidefiniielymeanslhallo me.- Sheffield ADHD: 7hes6 ses&cJn5 orfj great. indusN4 fvendty and noTrlhr8olen/ng. ki conned dKecily profesNonab <7nd olhersporents. Ileelsosupportédondcun n0wsup￿rtfftys0n undiherestoflL7mMysomuch bettw.. Hannlng Togetherforchlldren: "Conljuslsayl?ollh&lGdy who coursefodoy. Koren KwamaJi7g-ho•she ￿sle0￿gOod0I GdG7phng as Kehove o verydhferentsihmhon. Ithelpedme lof&lgoodaboulbelng aparenl.- Open Doors Grants Fyogramme Sarah Iname changedl is a seventeen yeor old girf who wus made hOmel￿S due lo the deoth ofher fatherwhom she I￿ed with and cured for. Losing her onty supporting parent to cancer and her home in quick succa55ion hos had o massive impctt on her mental heohh. Sarah Is in temporary accommodallon and is supporling herseK In a one bedfoomed flol and adlvely looknng forworl Sarah cunnol afford assenffols such os o warm winler cooland boots a5 herlood ond bills are prlority lo susloN hertenarKy and not be made homeless aguin. Fam11y Aclion awarded Sarah a granl of £220 forwarm wTnter clothing. rné supporf kvortersold.. 7hegr0ntCLvn*t￿yln7E6￿eK5￿nts. bÉyng L7ble to buyhersemnewcoolondbootslorlhe nfer M7s unreGI'inher words. Thisdefintrelymodesarah feelbetteremolionGI*.- S¢vuh 501d. 7kn 50hoppyandM7r￿ Irnoladlh8ressThllnlcepeDfyin ihe trvonftohelB" Nollonal Sthool Bwkta5F ProJrammtr. 7tmokesmefeelh(yppyundiihelpsrygrokm-ups.-_PrfmGrykhoolPup -MyChfyd￿ ublg to concenfrole al$d￿0/due to h￿Ing ihe schoo/bre(7ktsl Gndhasmudg newfftendsln I proress"_SecondarykhoolParenl. Foml*A werefrequenltyobsentfromschoolond0rfk￿1the dolfy. Mone childwospoorfy. ulllourchKt*ensluyedok honFe. Alongside olhersupport. Ihe lomlfy wereinwfedlo attend1heBreokfGsl8￿rO- Miih rthe eldeslsiblingothiUOS aBlsfroLeadw. Asorafulk. ottend(vKeondpunduo/ityhasgrearfyinpmvedforihisfamilyoverlhe105t78monlhs. The chmdren are moreseirfed. morningroufynasin Ihe fomi/yhomehaveimprovÉdandacodenycirnprokem8nthoSb￿1 seen.- io FAMILY AcfioN TrLLsfEES REFORr FOR THE YEAR ENDED 31 MaRCH 2024 strotegic Report Achlevements (rKI PerForman The 2023124 finondal year was Ihe ffinol year ol Famity Aclion's five yeor slralegy, Bu7£*ngon 750 Y8Ot4 lorihe perlod 2019-2024. During the y￿r Ihe TTuslee Board worked wlh Ihe senior monogemwt of Ihe orgonisalion both lo lake forward 1he five agreed slralegic obleclive5 in Bullding on 150 Years and lo devalop a new five year 51rategy for Ihe period 2024-2029. Examples ol our prOgr￿S agolnsl Iha five ogreed stTrj￿YIC objedlves over the finol year of the 8uMng on 150 Y8a 5krategyto March 2024 are gSven below. l. Agile and Resporslve- always uble lo look ahead, to Innowjle and lo saze opportuniltes During theyear. Farnily Adion continued to look ahead byworlang actlvetylo reduce the impod ofcontinulng cost ol liwng pressure5 on ovrsemce LJsers.volunleers and stofF. Aswe noled in OUT Report105tyear, In NovemÈer 2022 we set up Ihe Fomily Acllon Fund wth on ombilion lo provide up to 2,500 Indiwdvals ond families £200 each In supermurketshopping vouchers lo ettsethe Impad ofrapid Increa￿ in food prices. We had provided Ihe core of this new fund by disinv￿l￿g £200k of our own inveslments ond supplemenmng this with generous donolior from o number of our corporate partners. indlvidual supporters and Oth￿ frfends. By the time OUT Fund dosed In June 2023. we hod supported 2.008 indNiduals ond families and disbursed £401,600 in supermorket voucher5. During Ihe yeor, we also SUPPOrted communities across Ihe counlry lo manoge co* of Imng pr￿vre51hrOUgh direct WOTk in our ￿e￿ork o150me 170 services, by securing ftjnding lo rnaintaln our nalionol nelwork of FOOD Clubs. Ihrovgh ovr FamilyLine helplinewhlch received over 9,000 conlacts during Iheyearond through IheNalionol School BreakFasl Programme which provided o heohhy and nulrfliovs breaktast lo more Ihrjn 350.000 pupi15 In dlsadvonlaged oreos every school day during the reporting yeor. Durfng the yetsr. and In response lo a Reward Review which had been COMMI￿lOned from exlemal consullanls, the Board of Trustee5 olso focused on howwe could 5UPPQrt ourown staff in the contex* ol continuing cosfof Ilving pressures. In order lo mitigate al least some of those pr&ssures, Ihe Board made o sIgn￿COnt declsion in Odober 202310 use 50me of FamilyAclfon's unreslrided re5erwces lo enable us lo makea 3% c05tolliving ielaled increase to stiiff solari￿. This increase wos debaled thoroughly by the Boord ond tl wos agreed thal11 was Ihe most we could afford lo do while baloncing meoningful oclion with finonclal prudence. Thi5 decislon was appredoled by Family Adion's skoff. We r￿le Ihal in moking Ihis increase we had no opllon bul to use 5(yne of our unreslrided reseryes as so few ol ourfunders offered us Inflalion-linked increaseslo conlrads or gronts during IheyEY]r desplte the conlinuing high rale5 of inflation. In nollng Ihls fod, we recognise the flnanaul pressures on oll parts of the public sedor ond the assumption thatthe chorlty 5edor con ju* obsorb these conlinulng finoncial pre55ures. It ts lo Family Action's credit that the chorty remalned aglle enough lo come Ihrough onolher thollenging year. We further supported our lower paid staff in December 2023 with over 400 gronts of £ISO supermorkel vouchers os an addilional praclical conliibulion lo Iheir household food budgets. Thls supporl recogni*d that many of Fomi Adion's Staff are In relolively low pald jobs ond this Is typlcol of Ihe heullh and social C￿ secloT In which we operole. We were ddlghled 1hal fv40 of our longesl stonding Cofporale partners NewDay ond LV= General Insurance extendedrt)eirpartnerships with uséuringlheyecsrand our newercorporate partnership5which Include an exciting education support gran15 and Lxkended LIfe5￿lIs offerfunded by Barcl￿ and asignificanl gTanlsschemeforsingle purenfs pursuing higher educalion fund￿ by JP Morgan continued to Ihrive. Final￿, we conlinued lo seiie opporlunitie5. e.g. by ￿nllIng a slgnificant omounl of new work during the Ihighlighls of which are summarised belowl, by achiewng an a¥lenslon lo our controcfio deliverihe Nolional School BreakTosk Prograrnme untll ju￿ 2Q25 and by cgnlinuing to implement our ambthous Development Programme which indudes a brand rerfew the development ond launch of Cb new website ond inveslmenl in addilionul seFwce development and moddllng capacity. Our Head of Brond Development comrnenced a whole organi5ation brand revlew. Thls Includes considering Famity Aclion's positioning and articulating ourmsion. mission and elhos better, os well as a rèview ol tsurvisuol iden￿ty lo eTrsU￿ it repr￿entS the organisolion we are Ic￿0Y. In porullel with Ihe brand rewew, we havecommenced o majorwebsile deYeSopmenl projedwhich h(ts included significant consulialion across the orgonisalion. The websrfte wlll represent Fomity Aclion as il is lodoy and wi11 enable us to reoch more people who need our support, and mtye people who want lo support us. FAMILY ACllON TRUSTEES. REPOR[ FOR THE YE4R ENDED 31 M4RCH 2024 2. Managed Growth - continue lo grow in a rnonaged. sustainable way so Ihth we can hdp more children. adults and famllles lo hove better Ilves Despifre the cost of livlng crisis. Farnl￿ Aclion continued lo secure an encouroglng levd ol Income over the lo5112 months. The charty retained Ihe vost majority of its contraded semces and we were dellghtsd lo see Dur largesl conlracl. the National School Breakfosl Progromme, extended bylhe Departmenllor Education fora further year lo July 2025. During Ihe financlal year we secvred all addilionol £2.9m in nthy wns and relendwed contrarts for Ihe2024125 finonclal yeaT. NeW￿nSInC1ud& a large Children and Farnilycentréscontractand o smollerDomesMc Abuse servlce bolh in Gloucestershire, an excilfng new area for us. New seNce w(ns also included.. a Untversol Parenting Progromme in Medwo*. Emp¢)wering Paren15. Empowering Cornmunthes in Manch￿eTr a Perinatal Mentol Heahh and Parent Infonl Support serwce in Medwoy,. 0 5peclal Guardianship support Service in North London: Dorllngton Young Corers Semce., Herffordshire Birth Relative Counselllng and an Eorly Parenting and Child Parent Relthionship Pilot Service In North Northumptonshire. We were also delighted lo receive funding from Adoption England to expond our Familyconnecl servic& Famityconnect is on online I￿a￿orM developed by Fami Aclion whlch helps oduhs who have been adopted or in care lo find out angNers lo questions otL)uiiheir origlns. We wwe also pleased to bid Successful￿ lor a wde ronge of Trusts ond Grants funding during thèyear including mum-yeaT Notional Loifery Communlty Fund Reoching Communbtie5 fvnding for our Charteris Community Centre in Peterborough and DHSCfiJnding lor a newmenlal Health Hub lorchlldren and Young People in Hockney. Wewere also delighted lo secure a majoT new corporale partnership wlh Ihe Poundland Foundolion to develop our FamityLine seNice includlng the development of FamllyLine's digital offer. Duringlheyearwe ochieved our investment incomelargel and pr￿eNed Ihe capital value Ofourlnvestm￿ts. This is parlsculorly important fur the chority ￿ we use this Investment irKome os the source ol ￿ndIng for many of the welfore ond education re￿￿ed grants Ihal we award every year. Our fundralslng leom raised more than £4.3m during the year and Ihis ￿101 fvnding has supported our noll- commlssioned work such as Fomilyknne, our annual Toy Appeol ond many ofour FOOD OU￿ as wdl as slgnlfTcanl enhoncements lo our work in local ConYnUnth￿. A key challenge durfng theyeaf ha5 been the negotiation of our defic(r repoymenls following the lrfennlal ocluarial valU￿10n of Ihe Famlly Adion Penslon kheme IFAPSI - a defined b@nefii penslon scherne that has been c105ed since 2012 bLrt whlch remalns the charty5 single largest liabilty, Folloving d￿cuSSIOnS wth the FAPS Pension5 Trustee we have agreed a new schedule of deficil repayments ond Ihis was submtmed as required lo the offlce of Ihe Penslons Regulator. 3. Improved thjalty - lo ensure Ihal our seNices Ore of1he high￿1 possible quolity so thol we can Ma￿mISe the difference madeto our serwce vsers Our investment in our néw Practice Developmentteom hos really paid di￿ldendS Ihis yeor and we were ddighted lo launch and Toll out Communlties ol Prodice ICoPsl ucr05s oll of our themed orea5 of WO￿ during Ihe year. We conlinue lo work hord lo increose di￿￿buted leadership within Family Adlon. a goal Ihal is Importonl In an orgonlsolion Ihol is so lorge and so widely dispersed geographicolly. We rnade good progress again durtng Ihe y8ar on our quality improvement agenda. Our auality Assurance Fromework is enobllng oll tiers of the organisalion lo collect and analyse the rfghl dato, lo Understa￿ the qual of pracllce and ullimalelylo improve OLrtcomes forchildren and families. During Iheyenr all ourservices have agoln re￿Sed their Continuous Improvement Plans ond it is gtsod lo see a cullure of continuous improvemenl becomlng rirmly embedded wrfhin the organisotion. DuThng the year we ulso developed o new Inlegraled Sofeguording Training pothwoy and this 15 now bèing rolled out afall levels of the organisollon. 12 FAMILY ACMON TRUSTEES. REFORT FOR THE YEAR ENDED 31 MARCH 2024 We have had a continuing focus during Ihe reportlng year on the development and applicaNon of daFa for servlce management and centrcsl organisalional oversight. A revlsed orgonisiJlionol dashboord is being de¥eloped vthh key performarbce indiculors lo enable Improved regional and central over5ighl of key metrics across seNces. Al Famity Adion servlces which ore on our internal InForm system now have their own bespoke Service Level Report which enobles the local. reglonal and cenlrol management oversight of Ihot service including catyring outcomes for children and fornilies ond we continue to offer Ihul fvndionolty to new services joining Famlly Athon and lo 50rne Otherse￿i￿ where data was previously captured on other data recording systerns. We w￿e a150 pleased to relain our Ihfee ISO accredilalions during Ihe yeor. On Ihe rr sde we were de1￿hled to relain OL*r Cyber Es5enffals Plus accred(totion and our systerr￿ team continue5 to offer bespoke syslems develcipment services acr055 the orgonisation. We hove laken steps durlng the yeor to gather and rankdemand5 on the Wems team's time so we con ullocole capacrfy as efflcienlly as possible. A regul￿ed Earfy Years setting that was Inspected by ol*ed during the yearwas runk8d os Good. 4. Better Knownwtlh a Boldw. Slrongervoitsfor Famllles-lo build our nalional profileand poslioning andto ensure we hove incTaased inltuence and import r Ihe last12 months Famity Action has again worked hard to shine a bright spollighl on contemporary lo￿11Y pressures. WÈ have hlghlighied the continuing impad of cost of liwng pressures on indpiiduals ond familie5 QCIO the country and1he dispTQPOrtionale irnpod ol rising energy und food prfces on ihe pooresl households. (￿er the yearwe hove also con1InU￿ lo develop and evolve ourworklo gNe oll familie5 u bold strong volce under Ihe umbrello of'Family Volces.. In June 2023 FamI￿AdIOn'S Chiéf Executive wos Inmted lo glve Oral ewdence lo the Educollon Committee's Inquiry on PersiStenlAbsenc£ and Support for Di￿d¥UnIOged PuplLs. Also inJune 2023 FomilyAdlon won1he 5oclal Valtse Award for Best Third Settor Projed for 5outhend FOOD Clubs and were highty commended for Third S¥tor Leadershlp. In September 2023 we porticip(Jted In und provlded written and oral evidence lo the APPG on Young Carers and Young Adult care￿ Inquiry on the Impod on Lrfe Opportunities ol Young Carers. Thre8 young carers from our Windsor ond Maidenheod Young Cctrer5 5eMce acted os Youth Admsors on Ihe finol report, with one acfing os Co-chair of the Inquiry. In November 2023 we (]ttended the Royol Foundation Cenlre for Eorfy Childhoad Shaping Us Symposium. ofter taking part in their related Delphi stUdY￿s0 in November 2023 we submitted evidencelolhe Commisgan on Young Liv@s ond this led lo an invilolion lo ottend a roundtablewilh Hden Hayes MP, Lobourshadow Minislerforchildren ond Families. In January 2024 we were invited lo participate in the Lobour Society 5umrnit. ThroughoLrt the y￿r Fomily Aclon's Chief Execuflve ho5 continued lo be a member oflhe Cros5 Govemmenl Family Policy Group and in September 2023 our Chief Execulrie presented to this Group on issue5 foced by the settor. We hod o busy year In the rnedio. Highllghts included y￿nning a year long F)Ortnership wth Good ￿￿￿ekeepIng magazine as their 2024 charity partner. Over six issues Ihroughoul the yeor, Good Housekeeping showcase the work of Famity Attlon, Ihe 5UPPOrt ourvolunteer5 provid4 and the key issue5 facing families in the UKloday. Our annual Chrlslmas Make Theirs Magic campaign wos port1culorty successful. Key ochievemenls included o whole page feolvre in the Dally Mirror. inleryiews about pressures on familles on BBC Rodio139 local slo1ionsl and a pi8ce on 88C News online. OUT onllne reach lfrom190m lo 884ml. prlnl menlfons lfrom 73 10 341 and broadcast reach Ilrom 1.7m lo 10.Im) all more than doubled in comparison with Ihe previous year. Mony ol our Services achieved coverage including our Cumbria. Heodstart lyouih 2mployobllityl and Behowour Outreach SupFX)rt SepAces which were featured in Children and Young People Now. We delivered Nvo sucC￿ful brond campaigns during The period. Cr8(7ling HGppyMemories"In Summer 2023 CTnd itrlake ihwsmugic'in December 2023. Our Chrlsftnas Toy Appeal was parlicularly SLJccessful and we distributed over 15.000 toys lo families identified by our servi￿, 13 FAMLY ACTIC TRLMEEY REpoKr FOR THE YEAR ENDED 31 MARCH 2024 5. Valulw Our People- Inve51ing In Our￿OfF and volunteers and Iheir developmenl 50 thal Family Aclion becomes an even better placelo work By Ihe end oflhe repoi*ng year, Family Adlon's wor￿Orce nUrnbe￿ 964 *(rfE and some 330 volunteers. Wewere ddlghied lo obtain our Invest￿ng In Volunteering accreditalion in July 2023 and we Qlso Worked very hord lo Inlroduce a new decPronic HRIPayroll system fiTTenl by the end of the finonaal yeor. We were delighted lo crèjle ond oppoinl o new He(￿ ol Leaming and Devdopment rDle ￿ (kvelop and lead o new Learning & Development slralegy for the whole organisrjllon and lo ensure we are maknng full use of AppTenliceships wiihln Family Aclion. This po* has hcjd an immediate Impad and we ore now mo￿ng good progr*s in this orea. A ieview of ourcore Curriculum hos been conduded and newcourses have been Introduced lo enhance our L&D offer lo our staff. The new focus on ADprenliceship5 has led lo us mokfng much bettw use ol ourApprenliceshlp Lwrf and some 20 slaff are now enrolled in APprentic￿hlP training al dnlerenilevdsfrorn entry lo Level 7 e.g. 10 ol our managers hove enrolled for o Level 5 tjploma in L8adership and Management. We have on Equolty, Diversty and Inclusion IEDII Managerto enhance ourworkond prod1￿ in Etl and durlng1he year we were pl￿ed lo oppoint lo an EDI I￿$Stant role lo enhanca our copocity In IFM5 area. Our range of #aff diversity nelworks IAnli-Raasm and Peopleofcolour. AccessAbllity. GenderEqualty. LG8T￿A*, Parent5 ond Corers Equa1ty and Inler-loilhl hove continued lo develop and186 members of stoff are now member5 oflhese networts. We also now a network of 50 EDI Champions across IhÈ organisorfon. Over Ihe yeai we held 12 EDI events and released 21 EDI new5 pyeces. We also rolled out our new Menopouse Cafés In Ockober 2023 a5 part ol Wortd Menopouse Day- Ih1s wfjs o parllcularly important develOpm￿lI0r us os over 90% 01 ourslaff are female. We h¢]ve olready menlSoned the Reward R￿@W commtssion&J from exlemal consullontseaAier In Ihis Report. The Reward Revlew examined all aspeds of Teword wlhln Famlly Acmon and led lo our deC￿lon Its oward o cost of liwng rdoled 3% pay rise lo all staff and oddlllona1 support for our lo￿1 puld staff, The Reword Revlew also recommended a pay and grading re￿eWwh1th wlll Inlroduce g new job evaluallon scherne hlo Fam1￿ Action for all ol our dlfferenl roles. We hove appointed a Proled Manager lo lead this review and they will aslsted by external Specialist consuttonls. Staff and volunleerwellbeing ha5 continued lo be o major focus lor us ull year and we have continued lo provide a compreh8n51ve wdlbeing prograrnme Ihal has fixused on emollonal, phy51col and financial wel1b￿ng. Hnanclol R￿eW Fumily Adion's lolal Income lor Ihe year was £40.4m12023.. £39ml. 95%12023..93%10l our income was restricled to fiJnding specffic Se￿￿. Income for Operational Services come from Local AulhorTties, central government tsnd NH5 TnJs15 for the provislon of 5pecfflc seNces. The5elunders are listed in Ihe accounts INole Scs, b & d. C￿er{JI1. we employed o r￿onth￿ averoge of 92012023.. 8561 ￿ofF in the year. Tolal expendilure amounlod lo £39.3m 12023.. £36.9ml, ￿th £36.2m12023: £35.3ml rd£tting lo restricked charStable adI￿ties. Our net surplus posrfion before g(Jlnsllosses on inveslmen15 for the year Is £lm, included in Ihls re5uh Is unreslrlded defidl position of1£0.9ml. Total Funds al yeur-end were £20.8m12023., £20.7ml. There was an Increase in the Pension deftcSlvaluotton atyear- end from £9.7m to £10.8m Isee pension fund #aternenl for further detoi151. We have also s￿n a sllghl inCr￿Se in Ihe value Dfihe EndowTnenl fvndsfrom £9.7m In 2(Y23 10 £9.9rn. The nel increase in total funds wos £O.Im. FuThdrablng approoth and perfoman The charity undertakes fundraising aclivity lo ils 5UPPOrters vio a range of methods. includlng bul nol exclusively, fiJndraislng events, challenge even15. corporale fundraising, Trusls and Grants fundraising and onllne fundralsing, in linewih the Fundraising Code of Pradice sel by Ihe Fundraising Regulator. Ovrfundroising promise, which is ovailoble on our vKbsite to re(WUTe supporters of aur approach, othllnes when you 5VPPOrt Us. you can be sure oflhelollowng-. 14 FIMLY ACTION TRLETEES. REPOk FOR THE YEAR ENDED 31 MARCH 2024 We will never sdl your contad d￿allS lo anyone If you a￿ an indlvldual supporter, wewS1 only conlad you if you have expre55ed on Inleresl In our￿rk fwe phone you. we ￿11 check you ore happy lo lake the call Ifyou ask u5 to changè how we communlcale with you. or slop. we wll re5pecl that We do not engage In cold-colling. door-lo-door or Str￿ fundraIsing. Welry hord to ensure no one ever feels pres5uri5ed to SUPPOrt ourw We ore T￿lsIered wih the FundTolsing Regulator and adhere lo the Fundraising Code of Praclice Jl our adiWlles are open. fair. honesl and legal. l ourfundrai51ng sloff have regular supervkslon and appratsals to ensure we are workTng lo best praclice standards and regulerly reinforcing our fundralslng ethics. We hove on Eihical Fundraislng Pollcy %thlch is Tevtewed ol least every Iwo years. Thè chartly Is regisFered wtlh the Fvndroislng Regulator ond adheres to the standards of the Fundroisng Code ol Pradice. Overthe course of Ihis financial year, we have rec@ved no fundraising complaints. Assuth. no complalnlswerèreferrad lo the Fvndroising Regulator. Our complaints procedure Is ovoilable on ourwebsile wSth all relevonl conlacl delaits. Reserves Policy The Trustee5 hove considered their poliq on building up reserves and established thai Ihe oppropriate levd of free teseNes Es one that ullows the Charity to continue its normal aCh￿tieS in the event of ts signlliconl drop in funding. or loss ol proj8ds. wih contribution toward Ihe closure costs, il the project cannot obsorb its t)wn closure costs. In considering Ihè noture and diversityof ourincome, the Trustees believe the opproprfolelevel of free reserves should be minimum of £4.26m which Is made up 016 months runnlng costs of the central operotlon. a contribution ttswords potenllol projed closure costs ond Ihe lolal lease obligotion5 payable. Ourfreely ovailable general lunts as al 31 Morch 2Q24 were £4.95m12023.. £5.28rn1. This covers the required level of reserve of 6 monlhs njnnlng cosls of the Heod Office. h a150 covws any wtenthol prolect dosure costs ond conlSnukng leose obligalion5. General Funds fom port ofour Unre5trfcted Reserves whlch. lotalled £6.73m ot 31 March 2024 compared wth £7.64m as at March 2023. Funds designated for specific purposes stood ol £l.78m12023.. £2.36ml. Noles15-17 ofihe occounts show the various funds or reserves by type ond summorise Ih@ yeorfs movemen15 on eath fund. Note18 shows the osse15 ond I￿bil￿1eS allribuloble lo the various funds. Golng Concefn The Trustees have rewewed the proleded operations and adivihas of Ihe company. Including con5ideralion ol the exisllng contracts and o Nvo year projeded cash flow forecast. Based on the available finoncial information, we ore ol Ihe opinion that adequate resources will conllnueto be available to fund Ihe oclTvTlies ond operaffions of the company. Iharefore Fornily Aclk)n is a going cOnC￿n. 15 FAMILY ACllON TRUStEEY REFQRT FOR THE YEAR ENDED 31 2024 Pension Fund In common with other Charities wtlh hisloric final solary SCh￿e$, our pension scheme shows a deftclt which 51ood al £10.86m on 31 March 202412023= £9.68ml and under UK accounthng slandards, we are requlred lo account lor Ihk defjcit on the balance sheèt (Note 91. The ne* dellcil on the deflned benefit pension scheme incraased by£l.18m In the yeorto 31 March 2024. The maln Nnanclal (5ssumpllons as 0131 March 2024 have changed Since 31 March 2023. Dtscounl roteincreased from 4.75%10 4.85%. Infl¢Jlion exp6rl(Jlions Temained the same al 3.25%. In combination. th￿e gave F15810 o very marginal gain of £7k12023.. £14.81ml Changes In demagraphlc as5umpllons on 31 March 2024 led to a goin of £0.52m12023: £054ml. There was un expeTlence I￿ ol £l.52m12023= £1.55ml, In addrfion, there was tt loss on assets In excess of interest Income of £0.25m12023.. £11.07ml. The ￿ndiftg stolus oflhe sCh￿le over Ihe perfod is as shown in Ihetable below. 31 MoTch 2023 31 Marth 2024 Chonge Presentvelue ol liabllilies 127.3961 16.534 110.8621 126.3761 1,020 161 Market value of ossets 16,695 Funding deficit 19.6811 i.1 The lriennlal wJlL￿1Ton due in January 2023 was compleled o new repayment plon agreed wilh Ihe Pension Regulator. The Charlty continues lo make annual payrnenls towards the deficit in line ￿th the new agre￿ repoymenl plon mode wth the Penslon Regulalor from April 2024 and will do so until March 2027. The Trustees ore owore that the deflcit on the scheme under FRS102 wll fluduote wtih changlng Market conditions and Ihariheir ￿pOnsIbIlIty is lo meeiihe required conlribulions. There are adive option5 being CO￿[dered vilh the Pension Scheme Truste￿ as we conllnue lo manage the deficll. The Trusleas do not consider this deficil lo represent an immediole demond on Ihe Charivs funds and do not. Ihereftsre, consider th￿ there are ony re5ullanl Ilmllolions on resources available for generol appllcalion or on the application ol any restricted incomefunds. Investmenl Poliry and Performance TheTruslees' primaryoim Ssto achievesufficEnl income and copilal growlh fromihelnve5tments so aslo pemitwihout interruption the conllnued prowsion of the CharTVs core servlces. In 2019, therew(LS o reviewof the Inve51menlSlrolegywiih a chongelo Ihe objedive5 and o stroleglt decisionto rajuce portfolio risk to focus on copifol preservallon (ahead ol the slarf of thé pandemid. More specfficallylhe obleclive5 were prioritised In the form Of,￿lMa￿ and Secondarf-. Primory The target is Ihatihe value of the portfolio ￿11 be mointolned al a minimum of £IOrn. Seconcl]ry To generute £225,00010 £275.000 perannum of Income availablefor dtstribulion as grants Diversiffcalion Capital gr0￿h io keep pace with Inflation ICPII. The above Dbjecliv&s have continued lo be rdevant In recert year5 given the challenging mortel conditions. 16 F￿Ly ACTION TrUSTEES' REFC FOR THE YEAR ENDED 31 MARCH 21)24 The r8Mew of the inveslmenl stiolegy and manageT5 WQ5 completed in Ihe yeor by the Inveslment Committee. As a result of this review the In￿lment Commlllee reloined the Wealth Monogernenl consultancy service of Epoch and appointed new Inve5kment Managers- Waverton and Ruffers from Oecember 2023. The Inv&stm8nt Portfo5io wos managed by Brewin Dolphin and moved to the new investment manooers in Oecember 2023. The portfolio generoled investment Income during Ihe year of £352k, compored ¥Mlh £305kforlhe yeor ending M(srch 2023. With income at 3.44%12023= 3.05%1 of capital value. aslhe markek conditions conllnueslo improve during the year. we sawthe majorrfy ol our pomfolio paid dlvidénds. The foreca51 incomefor 2024125 E eyded lo be £281k al 2.75%. Wesawlhe portfoliovalue dropand then sI￿Y recoverlo £10.25rn as ofMaTch 2024compared Tmlh £10.08m in 2023, on InCre￿e of £Q.17m. The portFollo has not produc￿ a real relurn, principaSly due lo prèvailing high infjotion and market volalilty. The perfornance of Ihls investrnent stralegy conllnue5 to be remewed by Tnjst￿, the Investment Commiltee and Inv￿lMent Managers on a qUOrter￿ bo5is, wilh a more in-depth review annual￿, The Inveslmenl Committee continuesto have overslghi olthe managementof1he endowTnentportFolio and relalionship with tt)e Inve51menl munogers lo provfde assurance lo Ihe Board of Trust￿ In r￿ped of the stralegies and managemenl of this portfolio. in accordancewth Ihe agreed Investment Slrolegy. Plons lorlhe Future In 2024125 Fomily Adion will begSn lo work on the 5 slrolegic objedives In our new 5-year 51ralegy, Fami*c(Jn shGPe Ihe fu￿re- on orgGnisalionolslrolegy2024-2029. These objeclives are underplnned by detailed rolling adion plans whlch wlll be monilored regulorty by the Boord of TrU￿e&S and bythe Senlor Leadership Group. These strategic objedNes In our new Strategy ore os follo￿.. I. E￿￿ring we m(ulmlse our posillve Impad on soaety FamilyAcI￿n bolh Klnts andhas o responsibility lo support ondpromcle o soc&P IhLTI enoble5 children. youngpeople Gduhs ondthf18s b Ihrive. We recogrnse Ihol we operole Mlhin abroodersrtm ond we musl ensure we do ¢yll we CGn lo leverage our un/que postiion hr Ihe benefil olfomili8s in Ihe UK We will conhKiueto develop acuifure therefftefamlllas ￿ ￿rk￿lh hove ostrong ondhffuence. l ￿sUring the quality of ourw)rk Eonv/yAdnn ￿M5/O￿t0vid8sec1Or/e￿dMg, hlgh quafily. inPGcMulserwc&s 011he￿hI1Ame inlhe rfght M7y andbylhe rlghlp8ople. We are committ&dlo impmvlng andsuslaining oulcomes lordilldren, youngpeople ond familie5 t7nd odults Ihrough delivenng hlgh quality wvic8£ We as￿re to ohvoys op8role o huh performonc4 h￿hsUpporton￿h￿￿ chomengecullure kwlhsdéguJrdingondronfynuousinpmvemenf¢énlrol to our wrk 3. EnsLSrfng o slrong culbJrethot enables our peoF49 to Ihrfve Ourpwle arélhe Iifebloodofourorgontsalion. passlonale staff(7nd kvlunfeers worhngtogelherto aCh￿￿e Ihe best oulcomes possible for eptryoné knse M?rk kwlh. We want L7nd need an 0rg0ntsol￿naI cutture ihol supports ond enoble5 ourpwle ts Ihnke - fo be support8d and enooged lo achleve our Slralegicobiecli￿$. 4. Ensuring ourorgonl>Jtton remans relevant and reslllenl We wll ensure ihof tGmMyALllon if o slrong. ie&lient ondsustoinoble organisobon Ihotls oble fo mant7g8 o kwycho/leng/ng economicconthl, so thot Gre ttble to conAnuets be there lorihepeople o n6edus. 5. Ensuring families In the UK arg seen and heord Ive wonifomilies lo Irustus os on Organ￿OI￿n hlafshGr8s JndomWfi8sffieir ￿[￿5, bulinportonl*, w bwY/ also creolespt7cesondplalfvrmsforfamiliestoshore Iharslorieslhemsefvas, aslheexpert51nlharownli FomiikAdion rerogniseshowimForfOnlparticipofm￿ wlhin Rsmanyformsi7ndlhe iMpadh￿ 17 FAMILY Acnc TRusfEES' REPORT K)R ThEYE4R ENDED 31 M4RCH 2024 ollhepeople ws56Ywhason Ihelnthlduol communityandlhé orgonisolion. Byvaluii7o trndre5pethngihelr per¥ethves. FamltyAthon ulmslo empokverchildreo youngpeo*ondfomiYiesb hovegreGlerconlroland morepomwin Iheirlikw uslngihem v￿Ce to ldl1hwr51¢￿andmCkESen4tssmorer￿evOn1ondImR0ofvI. e K7ntlhe arpe[￿ncE olfan7ilylrfe ￿ Ihe UKto ￿ Cccurot￿r9￿r&5enfredondshGrgd- boihpos#ikE ond negolwe. Unfortunotely. we ore expeding Ihe2C124125 ffnancial yearto be chollenging again. Thecombined Imp¢Jclof morethon a decade of auslerity. the legacy of the pandemic and continuing cosl of living pressur& have widened Ineqvalthe5, porticularlyforlhe mostdisadvantaged, ond arefudling dernond for FamilyAdion's seNce5. Aswesald In ourTruslees report la5tr year. organisalion5 like Fomlly Adion that bid for publicly tendered work fw the majority of their income ore ked into a marketand afunding sy51em th￿ does notblerale inflalion-related annual confrartlncreases. As o resutr, we ore struggling to recruil and reloin st(rfr In some of our semces and ourflexibility lo cover Increasing costs and lo increose salaries wlhin exsling budgels is very limtied. is a systernlc issue In1he commlsslonlng of public services that was rnore manageoble durlng a period of low infialion, bulwhlch Is n(Iw putting huge Pr￿sUre on our sloff and seNces. As we ulso said in our report last year, 1here is an assumption Ihol the chorrfy sector wlll alwa￿ be there lo provide o vrfal sofety nel but these syslemic Iraillies are iwes that poliliclans from all parti* need ro acknovAedge, priori115e. confront and r85olve. If an￿h1ng, Ihe stiualion has only gol worse over the last 12 months, ond this Is why il was imperalNe forTnJstees lo od ond use a portion of ourvnraslrided r*erves lo fund o 3% cost of Ilvlng ieloled pay increase for all staff lo support Us with iecnJllmenl and retention chollenges. The challenge Lsihatwe cannot do Ihat everyyear. In Ihe meontlme. Famlly Action needs lo keep looklng aheod for new sovrces of income so Ihat we can continue lo deliver high qualityserwcos Ihal provlde Ihesupport tholvulnerable famili￿, children ond oduhs n88d. We are acutély onsclou5 Ihal in the 2024125 ffnanciol yeor there ￿11 be o General Election and we hope Ih(rt thls Election yeor wlll bring on Increased resolve from politicians from all polilicol part[￿ lo support and invest in serwices for famlliè* The imperatNe lor Farnily Action remains for us lo continuè lo wln new work in Ihis difficultclirnate, whilst olso retaining a5 manyef our exisling services as pO￿lble and providing our serviceslo os hlgh a standard cs p055ible. WevAII continue lo make thÈ case for gTealer inveslment In high qualty eorfy Intervention and prevenl(rtive seNlcas such os those we pro￿de ocross the country. und Ihis is a message Ihol we ore gpiing clearty in oll our public and prNale Influendng ParticularobjedNesforFamilyAction In Iheyear ohead ￿￿11 beto conlinuetoseize opporhJnitiaslodevebp newseNces Ihat rn￿1 emerglng needs forvulnerable children, indivlduals end familles. Wewll also drive forward the development of our Communities of Proclice. seTrice level Continuous Improvement Plans and OUT vhder quolity assurance programme, publish ond implement our first PeO￿e slrotegy, continue to lake forward our Leoming and Development roadmap. launch our new websilefollowng Ihe complelion of our brand revlew and implemenllhefull fundonality of our new eledronic HR ond Poyroll system. During the year ahead. we wlll also be loknng forward QLJr job ￿alUatIOn revlew and considering what more we can do to improve Family Adion's lotol reword package forourstaff. We will ulso use oui cumpaSgns and other engagement work wih professionol oudiences, influencets ond polrtical decision moker510 influencesocièlol under5tandlng oflhe diversty ol contemporaryfamity life, lo drive foNard posllive change and lo od as o plthfom for Ihevoices ol all those w￿h whom wewor Inolly. wewanllo continue lo build on otjr progromme of EDI workio ￿urethQtFaMIlyACk.Qn becornesan even better placeto work andto ensureihol all ourslaff, volunteers and service users are comfortablelo be Ihemsdves bolh in the workplace and in every con*ad Ihatthey have with us. 18 F￿Ly ACMON TRU5tEES' REFURT FOR THE YEAR ENDED 31 MARCH 2024 Strudur4 Gavemance and Monagement Gov8ming Doojmenl tJnd grcup slrudure Famlty Action ha5 ils origins In Ihe Chorfty Organisalion Soclety, which was established in1869. Today, Fomity Aclion Ls o Company Limited by Guarantae govemed by tis Arlicles of As50aalian lasl amended on 25 April 2019.11 ￿ regislered as a Charity th Ihe Charity Commission und as a company with Compunies House. F¢Jmily Action subsldlarlas are Friendship wo￿, BAND, PAC.UK and PAR￿ which are reglstered and charital￿e companies thal ore now dormont following their rnergers and transfers ol trade and assels lo Farnily Aclion. Appoinlmatt of Tnjslees OurArlicles of Association provldeihotFomllyAdlon may have uplo15 Trustees and Ihepr85enlmembers oflhe Board QTe listed in this report. The recruitmentof Truslees is sleered IhroL>gh Ihe Govemance Commlttee. chaired by Ihe Chair of Trustees. We assa55 Ihe slrenglh5 of1he Boord ttnd the sknlls Ihot we need for efFedive govemance on on ongolng basis. Truslee InducKon and Trainw All newTrusleas receNe a bespoke Indudlon plan according lo indfvidual need. As o Minimu￿ thls includes meelln wiih1heChalr. CEO, DiredorolFinan(e. olhermembers ofEG. Olherkeystaff. Iheopportuntylo observe o Board meeling before loining the Boord, thé opportunity lo learn more about Farnily Adion's services ond an offerlo attend the montNy ctsrporote Induclion session for new staff where the CEO presen15 In deloll on the chorlvs history. strafegy, Ser￿￿, rinances ond current operoling environment. We also have a slandord Trusteé Induclion Pockwhlch we keep updated. that contains W information about Trust￿. legal dull￿ and respon5ibililies undèr Chor￿1 and Cornpany Low. the Chorty Commission guidance on public benelt, the Chartrls ArtKles and delulled orgonlsotional Informolion. New Trvslees are offered a Tnjsfee mentor and we pro￿detraIn1ng. Includlng safeguarding training, ￿ nece55orylo ensure Ihol all Iruslees ore kepl up lo date wilh changing requirements. Trusles hove also been kept oware of Ihe changing lundscape artsund the regulallon ofchority bJndraising and Charity law. Organts(thon The Board of Truslee5 admini51er5 Ihe Charity. The Chief Execulwe Is oppoinled by the Trustees lo rnanage the doy lo day operthions ollhe Charity- To foulklole effective operolion5, Ihe Chlef Executive has delegated outhofty, wtthin term5 ol delegalion approved by the Truste&s under its Execullve knmitalions, for operationol matters including finance, confrods, service provlsion and employment. The aoard meets ffive Ilmes a year and Ihere are four Board sub c0rnmitt￿.. Audit Commmee, Quallty & Performance Committee, Governonce Committee and Investment Commlttee which con meet up lo four tirne5 o ye(Jr under1heir iespedwe terms Qfreleren￿. R8fthad Partlas and Co-operation Yith c￿aniSationS Any inter￿1 between o Truslee or senior monager and the Charlty must be disd05ed to the lull Board of Truslees in the same woy 05 any olher conlracfual r81olionship wlth o rdaled paty. r Davld Holmes CBE, Ihe CEOofFomilyAclion. was the choirofchildren England, a membpJship organisalion to which Fomily Att￿n is a member with £4,134 annual 5ubscrip1ion. thildren England dosed its operalions on the 31st Decemb8r 2023. De2 Nolmes, a ITU51ee of Family Adion, is also a rnernb￿ of the key management personnel of Research in Praclice IRSPI Inow part of the National children's Bureaul. a membership organisalion providing online resource5 5UPPOrting Q￿denCe-1nf0rrned prodicewith Childr￿ ond families. young people and adults. During Iheyeor, FarnilyAdlon had an octNe membership subscription lo RIP al a co5101 £24,750 ￿ClUdIng v(rt per annum. as this i% a voluoble prolessional resource for dl Family Adion 51aff. This tran5adion was carried outal om's length basis. There are no other rèlthed portylransaclion51o report. 19 FAMLY ACMON TRLtSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 Tnts Indemndy Insurance Farnlly Adlon pro￿]d&s insuronce lo its Tru*ee5 against liab1Ity in respect ol adions brought by Ihird parNes, subled lo the condittons sal ovl in the Componie5 Act 2006. Such qualifying Ihird-poty indemnlty insurance remains in force a5 the date ol approving the Truslees, Report. Key Monagement Personnel RemuneraNon The Dlredof5, who are the Tnistees. consider the Board of Trustees. and Ihe Executive Group os comprising Ihe rnanagernent personnel ol ihe Chorty in churge of direcling ond controlllng. running and opera11ng the Charity on o dcry-lo-day bosis. All Trustee5 gNe Iheirllme freely and no Trustee receNed remunerthion in the year. the pay ofihe ExecvtivÈ Group is reviewed onnually. In ¥Aewolthe n(ThJre oflhe Chorthi, 1heTrl￿eeS benchmark ogalnst pay levels In olher Charilies of5irnilar5ize and adiwty lo ensure thallhe remuner¢Jtion sel ts fair and nol oul of line wllh thal genefolly pold for similar roles. The remuneralion benchmork is the mid-point of the ronge p]id lor slmilor roles adjusted for a v￿ghling of up 10 30% for any Lxlditional respoll5ibllilies. sk Manag4ment TheTruslees have a iisk manogemenl strategy whlch comprlses: a rewew ol the prfncipal risks and uncertttinties foced by Fomlly Aclion C￿ o standlng agenda item ol every Audit Commtitee meeting. and bythe Boord ofTnJsfees on on annual basis,. regular review of the prfnopol r￿kS and uncertainlies faced by Famlly Adion and Ihe group by the Execulfve Group, in linewlh the Bullding on150 Years Strategy.. well-eslablished policies, controls. syslerfLS and procedur￿ to mitigate ony r￿￿$ Ideniffied,, and clear processe5 d85igned to mininiise or manogeany FY)lenliol impact on FomityAchon ond the group.should Ihose risk5 malerialise. The maln ri5k5 are idenffied v￿thin Famlly Adlon's KI5k Register. At each Audit ComrnitPee meetlng we rewew the Risk Register and also highlighlthe current highest rT5ks Ihal the ExeculNe Group ts concerned aboul fvilh commenlary and ¢oNlroL51. Thef0llow￿ng lop rfskswve Identified over the last year.. Failure lo relain conlraded serwices or win replacement work Unsloble external enwronmenl impacts on statf morale and ￿gagernent. and our abilTtylo recrult ond relain staff The organlsaffon becomes too reliant on the rnanagemenl charge eomed agoinsl one 5wJnfficant contrad in funding central infru*ruduTe Doath of. or serious harm lo, a seNce user, due lo poor s(]feguarding praclice Inabilwy lo monage Ihe hlsforic penslon scheme deflcil and meet ongoing deftal pawnents Key foctors In Ihe monagemenl of1hese risks are also rdecled in our Building on150 Years stralegy. The strategy had five underpinnlng objedwes lo help us priorfliseand manage ongoing organisulional risksond opportunitie5, especially In Ilghtof Iheexlernal environment-thè*fve stralegSc oblectives ore summarIs￿ elsewhere in this report, bulwe huve now launched our new Str¢Jtegi. Further lo the above, Ihwe remains ongoing mitigation ol olher key risk5 such cts those rela11ng lo dalo prolecllon. Hl quoltty, ￿. ond Heallh & Safety stavgry and Hurnan Trafftckjng Statement The Modern Sl(Jvery Ad 2015 inlroduced new obligalions In relolion lo slavery and human tr(rficklng. Fomlly Adion 15 fully supportpie of Ihe leglslotion as il is in keeping wth our values. Family Adion ts commffted lo Ihe principles ol Ihe Modern Slavery Act 2015 and the abolilion of modem 51avèry and human trafficking. A5 on equal opportunth ern￿Oyer. Fomily Aclion is commthd lo creallng and ensurlng o non-discriminolory and iaspecfful worknng environmenl for Sts staff ond volunteers. Family Aclion wonls all ils staff ond volvnt&rs lo leel confident Ih(Jl they can expose WTongdoing without any risklo Ihemsdves. 20 FAMILY ACTK TRUSTEES. REPORT FOR THE IEAR ENDED 31 MARCH 2024 The nature of our organisation ond suppty chains meons Family Adion has a low risk of bqng eyposed10 sup￿lerS who ulilise human Iraffickfng or slovery. However, we ore commilted lo improving our pradices ond processes 10 corTibal slovery and human trafficknng wh￿￿er we can. Due Diligen￿ Processes for Sknvery and Hurr*Jn Tr(rffick]ng part ol our iniliolive to identify and mitigote risk our Procurement Poliq and proc&ses ensure we hove In ￿ace syslems lo.. idenlfy and a55ess polenliol Tisk oreos in our supply chains; mitigatethe riskof slovery and human troffic￿ng occurring in oursupply choins,- and monllor potential risk areas in oursupply choins. We have a zerotolerancelo slov¥y ond human trafflcklng. and we ensure all those In oursuppty chaln and conlroctors, and our inveslmenls comply wlh these volues. Family Aclion malnlalns the followlng policies which ore acces%blevio Ihe Fomlly Aclion iTrlranel.. Employee Code of Condud ti-3rlbery Poli Anll-Fraud Policy Ethical Fundraising Policy Heotth & Wellbeing Policy hislleblowing Pglicy Anli-Bullying and Harassment Policy Equality, Diversity & Inclusion Pollcy Safeguording Adults Pollcy Sojfer Recruilmenl Policy. Fumlly Adion does not enter into busness vrith any organls(rtlon. In the Unitsl ￿ngdorn or abroad. which knowlng SUPW)rts. or i8 bund lo be, involved In slavery, se￿￿de ond forced or compu150ry labour. This 5tatoment is made wr5uanlto seclion 5qll oflhe Modern Slovery Act 2015 and conslilules1he s1¢￿ery ond humon Irafficklng slalgmenl forlhe financial year ended 31 March 2024. Slotemenl of Tru51ees' Responsibiliti¢s TheTrustees Wio are alsothedlredofs ol FamilyAdon for the purpose ofcompany L(Thl ore responsible lor preparing IheTrusteeg Report lincludlng IheSlrulegic Reportl and Ihefinancial slolements in accordance with applicoble Low and United ￿ngdorn Accounling Standards tunlled ￿'ngdoffl Generally Accepled Accounting Practicel. Company law r6pvires the Trustees lo prepare finoncial statement5 for each financlal yeor which give a Irue ond folr vlew of the state of affalrs of the Ch¢JriloblÉ Company ond of the Incomlng resources and applicotion of resources including the Income ond expendhure ofthe Chartlable Compony for that perlod. In preparlng these financial statements, the Trusleas are required to.. Select suitable accounting policies and apply them consislentty. Obsetve Ihe melhods and prlnciples ollhe charrti￿ SORP. Make judgements and esllmoles Ihal or8 reasonoble and prudenl. Prepare the ffnonciol slafemenls on the going concern b￿ls. unlass tr is inappropriale lo assume that Ihe charity wll continue on Ihot basis. Stole whether applicoble UK Accounting Standards have been followed. subjecl lo any materiol deportures disclosed and exploined in the financial slotements. The Tru51e& ore resporfjible for keeping proper accounting records which disc1￿. with reasonoble occuracy ot ony tlma, Ihe finorTruul position of the Char￿￿ble Cornpany to enable them lo ensure thotthefinancial s1(rtements comply 21 FAMLY ACTION TrusrEES REFQRT FOR T14E YEAR ENDED 31 M4RCH 2024 with the Companies Act 2006. They are aL80 r85ponsiblefor sufeguarding the assets ollhecharitable Compony, hen ta￿ng reasonable steps lor the prevention and deleclion of fraud ond oiher i￿egUlar1tl￿. In so far os each ol IheTrustees is cNore. there Is no ralennl audit infomotion whichlhecharitable companls audltor unoware ofand they havelaken all the sleps Ihth Ihey oughi lo thelaken, asTnJsleas, in orderlo mokethemselves oware ol any relevant aufe. now Awvo. NeN members are auto enrolled into the GPP bosed on eligibilrfyexceplwhere employees chooselhe option lo opt out. The total deftned conlribumon payable and recognised as on expense in the SOFA was £994.04612023= £8710881. The ad￿￿n￿*rolIOrn ofthe closed defined benefits is with Carfvright Group. The scheme closed ￿ fiJlure occnJo15 on 31 Moy 2012 except for poymen15 due under a Recovery Plon agreed ￿1h the penslon Trusleas. There is an obligoffon to fiJnd the ongoing adrnini51ralion costs of Ihe pension scheme. The disclosures, sel out bdow. ure based on calculotions carried oul as al 31 March 2024 by o qualified independent aduary. The Schemes ossets ore held in a seporole InJslewdrninislered fund lo meet long-lerm pension liabilities lo past and presen* employw. The Ilabilities oflhe Scheme are meosured by dlscounting th8 LÈSI eslimate olknlure cash flows lo be paid out of the kheme using rt)e Projected Unti Meihod. which Is a method sultable for o scheme Ihol was closed lo new entrants. The Ilobilitiessel outin Ihts note have been calculated based on IheftJll valuaAon ￿ al l January 2023. upd(rted lo 31 Morch 2024. The results ofthe celculalions and the u5sumptions adopted ore shown below. The Chorivs contributions expeded lo bè mode in the year commenclng l Aprll 2024 are appr0￿matety £822k based on the rthed schedule ofconlributions ogreed ot Ihe l January 2023 valuallon. FAMLY ACllON NOTES TO THE HNAMaAL STATEMENTS Iconltnu8dl FOR THEYEAR ENDED 31 Morch 2024 The Trust￿ of the Scheme ore requir￿￿ lo acl in the best Inleresl of the Scheme's beneficiarie5. The oppainlmenl of members ofihe Trustee Board Is deterrnined by the tru* docuM￿lation. Truskees hove received aduarial advlce ond the overall expeded rale of relum on ossets is b￿ed on Ihe long-lerm fLrture expected investment retum for each csset class as otthe beginning of Ihe peryod. CharvJes In Defin￿ 8eneftis Obllgatlon: 2tr24 rooo 2023 ro Beneflts obligation. beglnning ofthe year Interest cosl Benefits poyments Aduorial IgaSnsl on demogrophlc assumptions Aduar105 Igainsl on financial assumption5 Acluariol losses on experience adiuslments 26,376 1,225 40.156 1.051 ll.0251 15411 1.523 1,551 B￿￿1$ obligation, end of year 27,390 26.376 ssumplions used to dete￿ine defined benefft obllwlon at ofyea 2024 2023 Discount rote Rate of relail price inflolion Inon-pensionerl Rote of consumer price inflclion {n(>rn-pe￿loner) Norninal rote of increose in pensbon payments tr)en51oner51 -RHS%po -RH3%pa 4.85% 3.25% n/a 4.75% 3.25% nlo 3.05% 2.25% 2.90% 2.10% Post-rellremenl mortallty assurnption.. -Boseloble -Proledion5 for future improvements 2024 100% 53PXA CMI 2022 projectlons, wlh a long lem improvernent role of 0.5% p.a. 2023 100% 53PXA CMI 2021 prtsledlons. with a long lemi iMprov￿nent rate ofO.5% p.a. Commulallon allowance 80% 01 moxmum cash (rt retiremÈnl 80% 0fma￿M$JM cash al retirement Years 21.0 20.7 23.7 23.2 Year5 Lffe weclancyfrom 65 for a male currenly aged 45 Lrfe expectoncy from 65 for a mal@ currently tsged 65 Lrfe èxpeclancy from 65 for a lemole currenlly aged 45 Lrfe expÉdancy from 65 for a female ajrrenly aged 65 21.7 21.3 24.3 23.7 47 FAMILY ACllON NOTESTO THE ANANc￿STATEMENTs Ic¢nlinuedl FOR THE YEAR ENDED 31 March 2024 2024 2023 rooo Char)ges In Sthame a5sgls ore as followg. Fair value of Scherne a￿etS. beginning of the yeor Interest Income Employers, Conlributions Benelils p¢Jymenls Adminlslralion Expenses Relurn on plon (￿se15 in excess of Snlerest income 16,695 777 737 11.1971 12281 12501 27,681 725 715 11.0251 13301 111,oTri Fair value ofkheme os5ets. end ofyeor 16.534 16.695 SthemeAssets Allocalion, ofyear 31 Marth 2024 31 Morch 2023 £'ooo £￿CrfJ 9.635 1,508 5,388 164 Dlver5thed Growlh Funds Absolute Return Bonds ubillty Driven Inveslmenl Cash 3,990 3,796 8,543 205 16.534 16.695 Tolal 48 FANILY ACllQN NOTES TO THE HHbNCI￿1sTATEmENTS (con￿n￿l FOR THE YEAR ENDED 31 March 2024 PENSi¢Jy COST5 Icontinu Armunt r￿nIsed in the bdance sheet 31 Marth 2024 31 Morth 2023 rooo £'o Fair value ofScheme assets Pres￿1 volue offiJnd8d defined benefft obligollon 16,534 127,3961 16.695 126.3761 Deffidl recognlsed In scheme 110,8021 19.6811 Components of benefft cos1 recognised in Incorne & EXp￿dN￿re 31 Murth 2024 31 Much 2¢)23 10 Nel interest cost on nel defined liab11 ty Adminlslrolion Expenses 326 330 228 Nel benefrt C051 In SOFA before other recognised gains and losses 676 656 Amount recognised In other racogn￿d gains and105ses'. 2024 £'ooo 25Q 15241 2023 Relum on plon as5els in excess ol interest incorne Acluarial gains arising frorn chonges In demographic assumptions Aduurfal gains orising from changes in financial assumptlons Acluarial LOSS￿ on eXp￿IenCe adju51menls 11,071 15411 114.8161 1,551 1,523 GainsllLossl fecognised in olher recogni5ed galns and Ios5e5 1.242 117351 49 FOMLY AclloN JTESTO THE ￿NA￿Al ￿ATEmEN[S IconMnL£dl FOR TrIEYEAR ENDED 31 March 2024 10. T￿NGIBLE FI￿ A55Ers Freehdd Property Leosehokl Leasehold Compulars Propety Improven￿*S knfrastrudure Ewipmenl & FUm￿STe £'ooo ro¢JO Tolal £￿00 Co* Atl April 2023 Addilons Disposal 313 3.91)0 746 161 193 27 noi 5.313 27 Al 31 March 2024 313 3.900 746 210 5,169 Dep￿datIon At l April 2023 Chorge for Iheyear Disposal 208 52 209 34 161 134 32 lloi 721 122 ll711 At 31 Marth 2024 13 260 243 156 672 Net Bookvalue ot 31 March 2024 300 503 4.497 Nel Bookvolue ot I April 2023 305 3.692 537 59 4,593 50 FAMLY ACIION NOTESTO THE RNANaALSTATEMwfs Icontlnuedl FOR THEYEAR ENDED 31 Marth 2024 FLXED ASSET5 & I￿TmENr5 l tru*fund inveslmenls were revalued lo the quoted price on 31 March 2024. The investrnen15 olihe EndowedTru5ts and admlnlthered ftjnds areheld in a broodty dfver5thed mull managef POrtFolio devlsed and run by Brewn Dolphin. Waverton and Ruffer. 2024 2023 £'ooo £'ooo rket value at l April Oisposal in year Acquisitions in year Net cash movernént In yeor not yel Invested Inveslmenl management fees Gains on revaluotton in year 10,077 19.8921 10,581 16891 (1701 340 11,207 319 1951 0,0361 Morkel value al 31 March 10.247 10.077 Hislorical CDSt 0131 March 9.482 10.123 2024 £￿00 2023 £'ooo Splits.. Listed Inveslmenl Investment cash 10,027 220 9,662 415 10,247 10.077 Our portfolio wih Brewin Dolphln was disposed and ull Inve51menl 501d. The investments w￿e repurchosed In lh8 porttolio managed by Dur new inveslmenlmonogers- Rutrers and Woverton. On thatba￿s, oslherewere no significonl chongesin Ihevalues behveenlhedlsposol and repurchase, the relaled addi110r￿ and disposal hove noibeen refieded in the abovefigures. 12. SUBSIDL4RY UNDERTAKINGS FrI*￿hIp wc1￿. Frlendship WO￿ is a dorrnanl charitable compuny incorporoled in England ond wal￿ Icharity no: 1017460. Company no.. 27545871 controlled by Famity Adion by virtue of bdng 115 sole member, Bvilrfing A New Diredlon IBUDI.. BAND is o dormant chari1abl8 compjny incorpor(rted in Englond ond WO1￿ ICFvJrity ntr..1060822, Compony no-. 032845041 conlrolled by Fomlly Adlon by virlue of belng tis sole member. PAC-UK ifrd.. PAC-UK is a dormant chorilable company incorporoled In England ond Wal& Icharity no.. 294998. Company no.. 20403221 controlled by Family Action by wrtue of being its sole member. Portsmoulh AbJse & Rape Counsdling S$￿e IPAR PARCS is u dormant charitable company incorporated in Englond ond Wales Ichartty no.. 1079950, Compony no.. 36435991 controlled by FomllyAdion by virtue ol being its 501e member. The regi51ered office addfw ofeach subsidiory undertaking is 34 Wharf Road, Londan Nl 7GR. 51 FAMLY NOTES TO THE FINAWALsfATEMEFThS IconMnLRdl FOR THE IE4R ENDED 31 March 2024 13. DEBTORS 2024 £oc 5,631 340 2023 Arnounls invoiced lo funder5 Prepoymenls and accrued income Olher Debtors 4,710 918 5.980 5.634 CREDrroRS: amcunts falllng due wtlhln one yeor 2024 2023 £'ooo 593 306 Trade Credltors Paymenl received on accounlfor conlrads Accruals and Deferred Income Tox ané social security her credtrors 834 606 222 938 395 741 479 1995 1330 Dèferred Income represents lunding re￿Ived in advunce of the provsslon of the rel(rted ￿￿(eS. ￿1 deferred income held ol the end of the premous financiol year has been recognised wilhin th8 current financiol yeor. 52 F￿Ly AclloN NOTES TO THE fiNANc￿LSTATEmENfs (ContinL￿dI FOR THE YEAR ENDED 31 March 2024 75. UNRESTPJCTED FUNDS tss AT MARCH 2024 Balan 31 MoTth 2023 £'ooo 5,281 574 150 548 7Q3 112 160 Movament in BJnds Ggins ond Irar15fers rooo 251 &Jlonc• 31 Marth 2024 £000 4.952 530 150 48 876 57 65 52 Incoming Rasources Exwdlture General fiJnd5 xed Asselsfund Property IMprov￿ent fund Service Development Funds Staff Contingency Digital development Brand Development se￿Ce & Innovollon 2.004 12,5841 1441 15001 249 [761 7,638 P,9131 6.729 The general funds repr￿ent the free fkjnds of the Charty. which are not d85ignotgd for any parliculor purpose. The bolonce as at 31 March 2024 ￿.. £4.952k12023.. £5.281k). The fixed asset5 fund repre$￿ts leasehold improvements of the Charws offices used lor chartiable oclNilies. The balance os ot 31 March 202415 £530k12023.. £574kl. Propety improvemenls fund is a designoled fund sel aside for the cyclical repairs and maSnlenance of Ihe Head Office property. The bolance as al 31 March 2024 ￿ £150k12023. £150￿. A 5eNice development fund hos been sel upto ènoblethe Chorltyto monage planned pofflenl ofliobilrfles and budget deficits. This is ￿ential for the fuluTe of the Chgrky and Is designoled. so excluded from trea reserves. The balonce as ojl 31 March 2024 5s £48k12023.. £548kJ. £500kwas spent on Iho renegolialed pension deffttl recovery plon completed in January 2024. The slaff contingency fund has been sel up lo enable Ihe Charity lo meet ts conlroded obligations where servlces experfence slaff absences due to sickne55, redundancy or malemty for thich ￿dIllon01 hjnding is not available. The bolance 05 ol March 2024 is £876k12023.. £703k). Lost year the Boord made a key decision Io sF￿d £382k on developmental projecks. The projeds will njn over Iwo Ilnancial yeors nameW: Digtlal & Website Development, to redevelop the Family Aclion website lo ensure11 is hi for purp05e and accurately represents the charty. The bolonce cs at March 2024 is £57k12023.. £112kJ. Brond Development. lo rewew and refresh Ihe Family Acllon brond and posillonSng lo improve racognilion and engagement, and drive unrestricted Income generalion. The bolance os al March 2024 is £65k12023.. £160￿. Semce & Innov(thon Development, to fund ts development Tole whlch WTII ensure Ihal Family Acmon remains at Ihe cutting edge of new service deslgn ond innovolions. The balance as al Morch 2024 is £52k12023: £lllk). 53 FAMLY ACTION NOTES TO THE FINAKIAL ￿ATEmEN[S Iconllnuedl FOR THE YEAR ENDED 31 Morch 2024 15. UNREThcfED FUNDS JS AT MAKH 2023 Balance 31 Marth 2022 rooo 4,525 618 150 819 536 Movqnent in Funds Gains and tr￿Sfets Balance 31 March 2023 £000 5,281 574 150 548 703 112 160 Incomlng Resources £'oco 2,557 endllure £ci)o 11,4861 Generol fijnds Fixed Assets fund Property Improvemenlfund Service Development Funds Staff Contingency Digital developrnenl Brand Development S￿￿(e & Innovation 13151 12711 203 112 160 6,648 2.557 .5661 7.638 16. REStWCTED FIJNDS AS AT Marth 2024 Bolan Movement in Funds 31 Morch Incoming Galnslllossesl ExpeThJllure 2023 Resources and IransfeTS £'coo £'ooo £000 11,280 37.380 Balc￿ 31 Marth 2024 rooo 13.212 Opgraliund services other re*rkted fvnds.. NeNDoy Olher RestrTcted funds Nora Henry Trust E & W Morgan Trust other Endowrnenl fvnds 135.4481 115 903 174 515 50 156 962 37 336 374 14561 117) 330 383 238 12471 Tolol other r&rided fund5 Restricled Incomefvnds 1.735 977 18531 1.865 13,015 38,357 130.3011 75.077 19,6811 n,2421 61 110,8621 Total r&tricted bjnds Including pen%on scheme 3.8 38,357 11,2361 136,2401 4.215 Res￿£$ed funds comprise hNo main elements: l. The unexpended income trom Operational sery1c￿ of £13.212k as 0131 Morch 2024120Z3.. £11,280k5. Th￿e reslrlded funds rePr￿ent fiJnded prolett5 ond service5 run by Famiw Adion. The balance consists mainly of *ort-up fijnding on new prolects not yet spent and funding lo be carried foward as ogreed vriih indivldual lunders. 2. Famity Action administers endowed ond non-endowed trust funds. It distribules Ihis income In the form ol grants to indiwduols. The unexpended income from Ihe ftjnds is carried foThvard under ils re51rided purpose. This amounts lo £1,865k as al March 2024 lof thich £383k 15 held os investment in our porttoliol compared th £1.735k in 2023 lof whlch £377k is held os investment in our portfoliol. Sufficlenl r￿Our(&S ore held in on oppropriale form to enoble each fund lo bg applied in accordonce the restridEons impos￿. FAMLY ACTI 54 NOTESTO THE HNANC14LsfATEMENTS 1Cc￿tinUe￿I FOR THE YEAR ENDED 37 2024 16. RESTrICTEO FUNDS ASAT March 2023 Bdance 31 March 2022 rooo Movement In Funds Incoming Gainslllossesl Eyendrfure Resources ond transfers ro¢)) £000 Balan 31 March 2023 rooo Operaffonal se1￿CeS Olher reslricled fvnds.. Day (Jher Reslrided funds Nora Henry Trust E & W Morgan Trusl other Endowment funds 10.762 34,620 12 134.1141 11,280 105 1,267 43 1941 16681 1421 115 903 314 01 360 373 1301 330 383 410 13931 Total olher reslrided funds 1,154 1.825 147i 1.735 Restricled incom6fiJThJs 11,916 36.445 [351 D5.3111 13.015 Penston stheme reser¥e 112.4751 2.735 59 19,6811 Total restrided fvnds Induding pension xheme reserve 15591 36.445 1700 135,2521 3.334 55 FAMILY ACTION )TESTOTHE HNANCIAL STATEMENTS 1Cc￿lIn[*d] FOR THE YEAR ENDED 31 Marth 2024 17. ENDOWME￿ FUNDS AS AT MARCH 2024 Movement In Funds Addiliens enditure Balan and Unrealised 31 March Gttinslllos 2024 rooo 725 Charity Balan 31 March 2023 £000 713 1.142 Pemianent Endchvments Calerham Whyleleofe Tru51 Eleanor Pon50nby Trusl FWA Grea1er London Reliet in Need Chorty FWA Nalionol Relief In Need FWA Relief In Need Charity forihe Aged FWA Relief In Sickness Charty Women'5 Holiday Fund Melropolilan Visiling ond Rdlef Associalion Queen Adelaide Fund Blshop Andrews Charfty oiher tund5 Ibalanc £ioo.0001 272724 275060 12 19 ICQ6487 231205 865 790 15 13 880 803 237118 264713 207455 954 670 916 16 970 681 931 15 2515B6 207228 205288 362 258 120 287 368 262 122 292 7.077 120 7,195 Expendat￿e ￿d￿ments Nora HenryTrvsl Fenton Trv51 Lamming Will Trust other lunds Ibalonces £ioo.0001 313949 247552 216257 1,709 94 123 705 29 1,732 96 125 716 1625 1669 Tolul endowment funds 9,701 9.865 Fomify Aclion monoges Irusl fund5 wilh or withoul endownents. Th￿e are permanent ond eXp￿doble endowment Irusl funds. The general policy is not lo spend Ihe fijnd's capilal even IF permitted lo do so ￿￿thin the tèrms of the Irusl deéd. The capital i% InV￿led and Income is disbursed. The tru* deed spècifies Ihe PLJrpose for vthiih the income con be used. The market value ol the invested fLJnds lincluding endowmentsl as al March 2024 is £10,24Tr compared 10,077k In 2023. An increase in morket value. which ore vnrealised garn5, amounts lo £170k compared ￿1th o reductlon in value in 2023 01 £1,130k. FOM1￿ Adion TnJsl￿s hove estoblEshed a gronl allocalon team lo opprove the disbursal ol gran15 in lin8 wlh the terms ol the Irusls. unexpended income Is held as restrided funds for the purpose specified. Famity Action presents investment manogemenifees on endowmentfvnds *porotely on Ihe lace oliheSOFA bLrt as these ure linked lo Ihe movernenls in the volue olihe underlying investments. Ihe costs ond unreali5ed gairfj and losses reported in the year ore Combin￿ under one column. 56 FAMILY Acnc )TES70 THE FiN4NCWLSTATEMENTS IconlinLAgal FOR THE EAR ENDED 31 Marth 2024 17. ENDOWMENT FUNDS AS AT WCH 2023 in Funds EVend￿re Balonce and Unrealised 31 Marth Galnsllloswl 2023 £'ooo 1651 11051 Charmy Reg. Numb Balon 31 Marth 2022 000 778 1.247 Additions PerTTKJnent Endowments Calerham WhyleleafeTrusl Eleonor Ponsonby Trust FWA Qreater London Rdief in Ne￿ Charty FWA National Rellef in Need FWA Rellef In Need charty for the Aged FWA Relief in Slckness tharity Women's Holiday Fund Melropolilan Visthng and Relief Assodatlon Queen Adelaide Furld Bishop Andrfft Chority Other funds Ibolonces £ioo.0001 rooo 272724 275060 713 7,142 1006487 231205 945 1.067 1801 1277) 865 790 237118 264713 207455 1,042 731 1.000 1881 954 670 916 1841 251586 207228 205288 395 282 131 213 362 258 120 287 1241 1261 7.931 18541 7.077 Eypendable end0￿￿ents Nora Henry Trust Fenton Trust Lomming Will Trusl fred de Rothschild Trusl oiher fijnds 5balances £ioo,0001 313949 247552 216257 202225 1.859 103 135 769 n561 1.703 94 123 705 1641 2,866 12411 1625 Tolal endomienl frJnd5 10.797 11.0961 9,701 Family Aclion manages Irusl ftjnds wtih Of without endowments. These are permanent ond expendable endowment Irust funds. The general policy Is nol lo spend the funtts copilol even11 permilled lo do so within Iheterms of Ihelrustr deed. Thecopllal is invested and income is dt5bursed. TheIrU￿ deed Sp￿ffiesthe purpose forwhich the income can be used. The market value of Ihe invested funds (including endowmantsl as ol Morch 202315 £ 10.077k cornpared ￿th £11.207k in 2022. The redudion in morketvolue. which are unrealised gains, omounlslo £1,130kcompared wilh an increase in value In 2022 01 £146k. Ftjmily AcHon TnJslee5 have a51oblished a gronl allocation t￿M lo approvè the disbursal ol grants in Ilne wllh Iheterms ol Ihe Iru#s. All unexp¢nded income is held as reslrided funds forlhe purpose specified. Family Aclion presents inv*ment monagemenl lees on endowmenl funds separoidy on the face oflhe SOFA bul os these are linked lo the movements in the value of the underlying inv*menls, the cosls ond unreolwd goins and losses reported In the year are combined under one column. 57 FAMILY ACTtON NOTES TO THE FIWClhLSTATEMENTS IconllnLEdl FOR THEYEAR ENCfD 31 Mffth 2024 18. ANAL￿15 OF NET ASSETS BThEEN FLTrIDS AS AT 31 Ma￿h 2024 Unrestrkled Funds Restricted Funds rooo Totd Funds Funds Fund balan￿ al 31 Morth 2024 Are represented by.. Tangible fTxed assets Investments Current ossels Current liobllilles Pension scheme deficit 4,497 4.497 10,247 19.922 12,9951 110,8621 382 17,090 12.3951 110.8621 9,865 2.832 16001 Total net assets 6.729 4,215 9.865 20.809 Unreolised goins incknded above.. Investment ossets 1291 [1361 [7651 Tolal unreallsed gains ol 31 March 2024 1291 (7361 17651 JIALYSLS OF ISSETS BETWEEN FUNDS AS Af31 March 2023 Unreslrfded Funds £000 Restrided Funds Endolwm￿I Funds fooo Total Funds rooo Fund balan￿ 31 Marth 2022 e represented by.. Tangible fixed assets Investmenls Current assets Current liabilities Penslon scheme deficit 4,593 4.593 10,0 18,014 12,3301 19,6811 376 14.503 11,8641 19,6811 9.701 3,511 14661 Tolol net ossels 7,638 3.334 9,701 20.673 Unrealised galns in(l￿1ed obove., Inves*menl a￿ets 120 1461 Total unreallsed galns al 31 March 2023 120 1461 58 FIMLY Ac￿oN NO7ESTO THE FINANCiAL ￿ATEmENTs Icontinuedl FOR THEYEAR ENDED 31 March 2024 19. LEASIN￿ CoMM￿MEN[S At31 March 2¢Y241hecharlloble Companyhodfulu￿ minimum Tenta15 payable under non~cancellable operalng leases as detalled bdow. 2024 2024 2023 2023 Propety Olher Property ro rooo £'ooo nimum lease payments duewiihin.. - one year - wilhin Mo lo flve years - over live yeurs 15 451 229 174 398 223 621 21 The Charity corefully manage5 hs lease obligoffons lo ensure Ihot the lease tern￿ closety malch the lenyh ol se￿￿ conlrad5 andfor non-5eNice-reloted propertiesihal appropriale breakdauses are in ploce1050feguard the Chtsrdvs resource5. 20. CONDU￿ FUNDS Fomily Adion monagesond dlsburses hjnds on behalfof o numberoforgan￿￿IOns. These ore hdd in separole bank accounts and subjed lo Famiw Aclion's inlemol controls and procedures to erffjure Ihal these ¢￿ets are safeguarded. The value of thesefvnds al 31 March 2024 is slated below.. Balan 31 Marth 2023 £'ooo Balonce 31 M(rth 2024 £'ooo Incomlng Funds £'ooo Outgoing Funds fooo Motor Insurance Bureau 37 27 Deputy and Truslee Serwces 35 36 C4MHS Allionce FundholdeT 1,296 917 392 1,368 918 .8311 455 Molor Insurance Bureou.. Family Actlon acts os custodion trustee for mlnor5 In resped of awords made by the Motor Insurance BureaLJ. These lunds are puid OLrtto the indlvlduol b￿elUctorS on reoching Ihe ogaof maturity. Deputy ond Truslee Se￿Ces.. The Head of Dewty ond Truslee se￿ceS ads os deputy for people who do not hove the capacity lo monoge Ihei¥ own financial affolrs ond undertakes Ihe day-lo-day monagemenl of their financial afftilrs in Ilne with guidelines provlded by the Office of the Public Guordlan. Durlng the year a mojortty of the cllenls were moved viih orders from the court lo fI￿S of solichors wih only Ihe accounts ol deceased clients left. These wlll be resolved bylhe courts wih bL)lonce on Ihe accounts pald outaccordingly. C4MHSAlllance Fund Holder.. Family Acllon are the Fund holderfor aty & Hackney child and AdoleSc￿tmental Health Service IC4MHSI ￿lIanCe. Fomily Action ￿ responsible for poyment of invoices on beham ol Ihé alliance lo varlous service pr¢)viders coMmi￿10ned by the NHS Clty & Hockney CCG. 59 FAMILY ACMON NOTESTO THE FINANCLtsLSTATEMEKfs Icontlnuedl FOR THE YEAR ENDED 31 March 2024 21. REL4TED PARTY TRANSACTiOM Duvld Holmes. tha ￿0 of Fornily Adton. is the chair of Children England, o memlxrship organisolion to whKh FomityAdion is a member Wbth a £4,13412023: £4,1341 annual substriplTon. Chlldren England closed Ils operotions on the 3151 OlDe￿Mber 2023. Dez Holmes, a Iruslee ofFgmilyAclion, 15 also a member ofihe key monagemenl per50nnd ol Research in Pradce IRIH Inow part of Ihe Nalonal Children's Bureaul, a member5hlp organisahon providlng online resources supportlng evidence-inform￿ pradice wlh childrèn and fomilies, young people and adu￿S. A valuoble profe55ional online r￿ourCe for all of Fomily Achon stuff. Durlng the year. Family Adion has an odiye membership subscrlplion ol a cost of £24,75012023, £19.5001 per annvm. This Iransoclion w￿S Carri￿ oul al an arm's lenyh basis. Donations made byTrustees lolalled £5,400 05 of 31* March 202412023.. £11,800]. Thereoreno olherrelaled parfy transadlons to report. 60