Oou*grt EnvdwelD lAoF￿AA471￿2S&AO4G34CCAEk9 Switchboard LGBT+ loperating as "Swit¢hboard"} Annual Report and Unaudited Financial Statements 31 March 2024 pany try Guar8r*ae RegistralK)n Number 02098685 lE￿la￿j WJe51 ¢)wty Retysty8b￿ Num 2￿193{Er￿)￿y•YJW￿￿$) OFFIOAL r￿￿￿9n En*￿pe ID". 1AOF8M871A428wC-34CC￿EAg3636 Contents Reports Refere￿e and administrative detai15 of the charity. its Drector5 advisers Co-thairs, report Directors. report In(kpendent examiner's report 13 Financial Statements Statement of financial actNities 14 Balan￿ sheet 15 Statemenl of cash flows 16 Prinapal accountitYJ polKies 17 Notes to the finanaal staten*nts 21 OFFICIAL Reference and admlnlstratlve detalls of the charlty, its directors and advisers DirectOfS Xan Pedisrj) Peter Hannam Ashley Hind Ire5P3ned 19th Odober 20241 Geofftey Hunter (reS￿ned 19￿ Octobei 20241 Rodiigo Peroni Kenneth Smalles I￿signed 19th October 20241 K3te Dale {appointed 4 January 20241 Emma W(K>llcott (appointed 4 January 20241 Andrew Houghton (appointed 13 April 20241 J￿ Miller lappoinled 13 April 20241 Henry Aspinall Stephanie Fuller Bob Hughes18PPOintèd 17 Juty 20231 Alison Monlgcrnery Voitech (resigned 30 June 20241 KalE Veysi (appointed 15 May 20231 Natasha Vucak Registered office WLK>dlands Grange Woodtands Lane Bradley Stoke &832 4JY Helplsne Ot￿e Telephone e-mail Ik800 0119 100 020 7837 6768 website5 adrnin swichboard. vA￿.$Wit¢hb0ard. Cornpany registration nurnber 02098685 IEngFand 8nd Wales) Charity registration number 296193 IErKJlaTrd and Wales} Independent examlner Dunkleys Woodlan(Js Grange W(￿landS Lane Bradley Stoke BS32 4JY Switchboard LGBT+ 1 OFFICIAL Dootsvjn Ern￿Ope ID." 1AoFB3APA71A426&A04G34CC￿92 Reference and administrative delails of the charity. its directors and advisers Banker5 CAF Bank Lirnited Kings Hill West MalliThJ Kent ME19 4TA The Roydl Bank of Scotland pk London IslvTrgton Branch 40 Islington High Street London N18XJ Switchboard'5 mlsslon statement We are Swrtthboard. the LGBT+ Helpline_ We are a safe Spa￿ for anyone lo discuss anything, induding sexuality. gender Klentity. sexual heatth and emOt￿)nal wellbeing. We support people to ewore the right WK)ns for themsefves. We aspye to a wciety where all LGBT+ peop￿ are infomied and emFowered. Swftchboard's val[ We are: non-judgemental tnclu5Ne committed • empovRring • supFMxtive • informed Switchboard LGBT+ 2 OFFlaAL t￿￿￿sign Ell￿0pe ID lA0FB3￿877M?S&Ao4C-Y4CCA£A92636 Directors, report 31 March 2024 The year endtng March 2024 has seen remarkatAe growth and transition for Switchboard LGBT+ as we celeiKated our 50th year of serwc£ to the LGBTQIA+ community. As ever, our commibment to adapting. ￿Ming, and evolw.ng remains at the core of everything we do. ensuring thal our servres coninue to meet the needs of our ajmmunty. Govemance and Board Changes This year, we made several signrftht)t amendments to our govemance struclurg. We updated 0￿rArt￿leS of Asswation to remove Ihe tequirement for rnonthly Board meetings, allwng the Board to fwjs mre on stralegicoversight and leaving our dedicated staff team to handle operational matters. This transition Teflects our ongryng shrft from an operational to a strategic Boatd. Further amendments to Ihe Artiths inlroduced I￿n-m2￿b8r twstees, enabling us lo bring in much-needed expethse. We subsequenuy ctropted two new trustees specialising in cOmmun￿￿tIOnS and legal affairs. 5klls previously lacknng wthin the Board. Additionally, we removed the concept of Off￿ers within the Board, meaning roles such as Treasurer and Secretary are Th)w assvJned lo trustees rdther than elerted as $l￿al officers. Kèy Milestones arKI CelebratiQT Our Slth anniversary vras a highlvJht of the year, marked by tV+D ¢ekbr31ory events. We )sted a w.vale gala for our membets at the iconic BT Tower. featuring an exhibition of our hislorical archives. including log b¢xiks and photograph5 trom our earfy days. We also held 8 public evenl 8t the W&dorf Hotel. bvhith. ihough not inlended as a fundraiser. was a finanaal success. As part of our annwersary celebratKJns, we also refreshed our brand. The new branding rTK)re awuTatety refiects Switchboatrfs modem iden￿ty while honouring our prou(J hisiory ol being a safe atKI Inc￿s1¥e Sp￿ for the LGBTQIA+ communrty. Operational and Service Enha￿ernents Svthchboard also made svjnificant strides in our 0￿rab"on$. In conjunction with legal ofession815. we developed a GDPR poI￿Y to ensure compliance wrth data protection regulations and erthance transpatency with our se￿iCe u5ètS. We also introduced a new policy that bk)ck5 intemational and anonymous users, ensuring our efforts are focused on our UK-based service users. Tfvs derision reflecls OUT cornmitrnent to providing a ser¥ice that rneets the neets oflhe LGBTQIA+ community in the UK, even though rt has meant tuming away the small number of inlernalional users who conlact us. Our volunteer base expanded as well. increasing volunleer numbe[5 to almost 31K). To support our gro%￿. we tranS￿"0￿d fii)m a singular volunteer ro￿ to three new roles.. one f￿SIng on our email servi￿, another on oTrli￿ chat. and a comtx'ned phone and online chat role. This 11exibilty allows volunteers to speci4lise in their p￿ferred method ol communication, itnpiomng both volunteer satisfaction and service qualty. OFFiaAL DO￿sort En￿OPe10.. 1AOFB3APA71M26&404C-34CCMEA92636 Dire¢tor$' report 31 March 2024 We devebped new C￿e Ap￿iCatiOn Training ICATI courses and rnateik41s lo support these new role5. ensuring every volunleer ha5 the best P05sible start. We also introduced a new reCru￿ertt plattom with a consisterrt. quanIff￿ testing Pro￿$s. m8king our iecrurtrnent efforts more effective. effirient aTrJ diverse. Staff and Board Transltlons The board also saw chaThJes in its leadership. We sa*J farewell to our previou5 Con and hard work of our volunteers, Staff and supporters. Plans for future periods Over the coming year we are continuing to invest in the stsll leam wilh new appointsnen15 due to be made and restructure in the staff team to enable the enlarged team to work effe￿1Ve￿. The appointsnents will enable us to focvs rnore on fu￿1raisIng and the volunteer experience as we bok to signffj￿ntty increase in the number of volunteers over the next ye8B. oFFIC￿L Doc￿5￿￿ EnvÈW ID IAOF83AM71A426&A04C-34CC*EA92 Directors, report 31 March 2024 Financlal overyiew Overall results forthe year Total income for the year 202&24 was £576.18912022-23.' £659.0191. the income in the "or year ir￿lUded Ihe Teceipt of a latge legacy donation in the year of £167,518. no such kgacy donations have been recewed in the year leading lo the decrease in income_ Communty donations and in¢orne fr(Hn FtEnds of Swlchboard totalled £156.027 in 2023- 24 and £121.252 in 2022-23. Interesl from the bank was £26.471 12022-23.. £9.1921. the (¥ease refflects the increased use of Flagstone %thich has enabled us to maximise the lerest receNed on our available fvThJs as well as the inixease in interest rates. Expenditure in the yeaiwds £689,853 lirtluding ihe loss on disposal of tangiblefixed 8SSÈts of £3.709112022-23.' £413.6861. The increase is due to the investmenl in our staff team with 40 new staff ￿￿MberS appointed in the period as wdl as signfftant one off eXpendTtU￿ in relaiKJn to 8 rebrand and relaunch of our websTte to matk our 501h annNersary_ The overall rèsU￿f0r 2023-24 was a k)ss of £113.fj64121rx2-23: a surplus of £245,353). We woukl like to thank all those who have contributed lo i)ur y￿rk especi?lty for the loyal support of our donw and the WKler LGBT+ communty- The tharity continues to be kn a strong finanual FX)sth"on and the conl*)ued sirong finanual support has enabled significant investmènts in the chantls operations. Re5ervÈs pollcy The receipt of the signrftsnt legacy in 2017-18 means that reserves now represent over 2 years. 12022-23 - 4 years'l expenditure at curretkt spending levels. The Teserves have decreased as a muttiple of ex￿ndrtUre due to the significant increase in expendrture in the year and the loss allsing Én Ihe year. Over the long temi. the Directors believe il is prudent for Ihe charty to have free reserves equal to at least eighteen months. expenditure. Financialposition The balance sheet sh(Ms total funds 01 £1,789.31012022-23." £1,￿2.9741. The t8￿1b￿ assets luThJ at £206,27112022-23.. £224,503) represents the net book value of the charitable companYs tangible fixed assèts. largely ils property- The fund has been created in orderto eMpha5i5e the lactthat the assets ale fundamental to the ch8riiable company's activthes bul are not readily leah"sab￿. so do not represent liquid reSoUr￿S available lo the Directors. Further funds lotallithg £50,OCIJ (2022-23." £50.1￿> have L￿n designated OT sel aside for purp05e5 85 detailed in note 15 to the financial ststements. Funds totalling £nil 12022-23.. £3491 are reslrKled. as detailed in note 16 to the finawal ststements. General funds, which represent Ihe part of the Charitab￿ ¢ompan¥s day to day working capital. ￿Ere £1.498.03312022-23.' £1.628.1221. The Directors acknO￿edge that the level ol general funds exceeds the level required under the above reserves policy. During a prevK)V5 year, Ihe charrty received a legacy of over £1 million ￿1¢h ha5 inflated the ¢hariVs general funds Slgnrf￿n1Iy. OFFICIAL Envek)pe ID." 1AOFB3AU71h428W)4C-34CCAEA92636 Directors, report 31 March 2024 Structure, govemanee and management Legal andadministrative infommtron Swtchboard LGBT+ is a registered charity. Charity Regr5tsalion No. 296193, and company limited by 9UaIantee whKh holds no share caprtal, Company Regi5tiation No. 02098685 IEnglarKI and Wales). Swilchboard LGBT+ operate5 under the trading name of Switchboard. In the event oflhecharrtabk company ￿lI¥j W￿nd up, mernbw5 are required to contribute an amount not exceeding £1_ Alembership of Swhchboard Volunteers at Switchboard fall into categories. hdpline vdunteers and support volunteets. Those who vofvnteerfor Ihe helpline are Se￿Cted for their knth￿edg￿. etnpathy and experience of lrfe in Ihe ￿$bi￿n, gay. bisexual and trans communities. Once they have successfully completed their training they are elKJ￿￿ to beccme members of S￿tchbO8rd with full votu)g rwJhts. Support volunteers are selected for ihe skills they can bring to support the core fundion of Svrilthboard. Once they have comp￿ted an initial period of induct'on and demonstrated their comfflitment to SwitchtK)ard they are also eligible to become rnernbers of Switchboard %wth full voting rights_ Bolh helpline and support volunteers are required to meet a minunum commitment lo retain their membership. Volunteets ale able to change roles %Mthin the organisalion piowded they meet the relevant criteria. Directors The Directors. who constitute the Trustees of the tharitable company for the purpose of charty le9islation. are ulbmately ￿spOnSible for Switchb031d. Directors are elected by the membership at the Annual General Meebng for a wiod of two years. In the year the Directors have co-opted two extemal trustees to provide additA)nal skills to the Board that weren't available from wrthin the membership. The D1￿Clor$ set the strategic diiedion and objectives of the organisatK)n. ag￿e the budget and are iesponsible for the overall management of the tharitabk company. Directors meet at least quarterfy and minutes of Il*se meetings are made aVaila￿e to all volunteers. A comprehensive inducth)n programrlle 15 in place to ensure new Directors are familiar with the Charitab￿ companW5 objecawes and strategic aims, and their role 8nd respon5ibilib.es 35 8 Director. None of the Directors re￿iVed any rernunera￿n or olher financial benefrt for their services ¢Junng 2023-2412022-23.. £nill. Five12022-23". srK} direCt(￿S were reimbursed for expenses incurred in the perftsmmnce of their dubes loialling E65012022-23." £6101. All Diiect015 have c￿￿r[￿ed that Ihey do nol have. and have not had, any beneftxal interest in any contract th the Gharrtable company. Staff Swtchboard employed seven memi*rs of slaff as at 31 March 2024 an increase of one on the prior year. The staff team inchJdes a CEO to support the work of the volunteers and to ensure the smooth day to day tunning of the tharity. The CEO is responsible for the staff team and reports on the operat¥)ns of the tharity on a quarterty basis to the Trustees. OFFiaAt Do¢US￿n Envekye ID. 1AoFB3M471A4￿mO4tsS4ccMEAg2&36 Directors, report 31 March 2024 StN¢ture, governanco and management (continue(11 KeymanageMentpe￿0nneI The Directots and CEO COMr￿eth￿keYManagernent personnel olthe charitable company In charge of direding and controlling. wnning and operating the charitable company on a day to day basis. The charitable company's assets Acquisrtions and disposays of fLxed assets during the year are recorded in the notes to the financk81 statements. The Direclors are of the winion that the open market value of the freehold land and buiklttyJs is in excess of ihe net b(K)k value at whiGh they a￿ shown on the balan￿ sheet. Risk management The Directors regularfy assess those rtsks which they enwsage might affect the funcboning of the thatbtabie company and its abilty to ai*ieve its objective5. The main types of risk are entrfEd and examined togelhei wilh an assessment of their severity and likely impact. They can ￿ summarised into the fdl(Mng a￿as. Risk of mi5kading inf0M￿t￿ bwg g￿en to SeTh￿e users and general public Loss of staff and Director5 MisappropriatK¥n of lunds or inappropriate use of said fvnd5 Insuffiiienl trdining in reL4tion lo safeguarding and ￿ security • RetÈnb"on and engagement of ¥olunteefS Sery￿s are not offe￿￿ sufficEnty al the times advertised • L055. failure or cOmJplh￿ of our infotmah.on systems and data Inappropriate and ￿putat￿nallY damaging stalements made by supporters. volunteers or slaff members InsurfK*nt safeguarding acbons are taken by volunteeis in relation to Se￿￿ users The Directors are satrf￿d thai measures are in place to minthnise any potential loss from Ime above risks. The risks outlired above are mrtigated by a combination of factors induding.. providing high quality training to volunteers.. review of the support systetns and training offered to volunteers.. embedding financial controls and prO￿dures', continuing to build relat10n5hips with a varietyof corpoTateorgani5alKTrns and InC￿aSed focus on Individual giving to diversify our income strearns.. yearfy appraisal process iMp￿mented for staff members,. engagernenl of exletnal trustees to address sh(￿￿geS of speoalist skills on the Board of Trustees and $L￿esS￿)n planning Imp￿mented for the Director5. OFFICIAL Docwgn ID. 1AOFB3AU71A426&A04G34CCNEA92636 DirectOfS' report 31 March 2024 structure, govemanct and management l(iJntinugJl Fundraising The charity aims to achieve best pra￿￿ in the way in which it ¢ommunicates with donors and other supporters. It lakes care wth Ixjth the tone of its (X)Mmun￿all0ns and the uracy of rts data to M￿l￿15e the pressures on supporters. It applies best practi￿ to prtstect supporters, data at)d never sèlls dala. it never swaps data and ensures that communication preferen￿$ Gan be changed at any ltme. The charity manages its own lundraising actwities and does not empk)y the serv￿e& of ￿￿fessi￿al fundraisers. The charity undertakes to react to and investigate any compkints wardirvj ils fundraising livities and lo kam from them and improve its serwce. None olthe fundraising methods operaled by sh￿tChb03rd invdve persistent approaches lo the public and. as such, we have re￿well no cornplaints reL3ting to our fundraising during the year. InvesthentPOW*f5 Under the Memorandum and Arbdes ol AssorAatK)n the charilable compary has the PCY*ver to make any investment the Directors believe approFNMte. OFFIOAi Docusrgn En￿Ope10.. lAoF￿A4￿71A42s￿AO4C-a4CcAEA92636 Directors, report 31 March 2024 DI￿¢t0￿.respOn$1bil1t¥es The Directors (who are also Trustees ofswlchboard LGBT+ forthe purposes of charity lawl are responsible lor prepariTrJ Ihe Diiectot5' report and financial statements in accordar￿e with applicable law and United KiThJdom Accx)unbng Slan¢Jards (United Kingdom Generally A¢￿pted A¢4x>unting Ptacticel. Company law ￿qUIreS the Direclor5 to prepare finanaal statements for each financial year. which give a true and fair view of the stste of affaiis of the tharitable company and Of the income a￿1 expenditUTe ofthe charitable cThnpany forthat period. Under cornpany law. Ihe Directors must not approve Ihe finanual statements Un￿SS Ihey are satisfied thal they give a true and tsir view ol the stste of affa¥s of the th8ritable company and of the income and expenditu￿ for Ihal period. In prepaMg these financial siatements. ￿ Dre(Iots are required to.. • select 5uilable acc(NJnb"ThJ por￿￿5 and then appty them consistentty observe the methods and prin0p￿S of Accounting and Reporting by Charities. atement of R￿ornmended practi￿ applicable to charities preparing theiraw)unts in accordance with the Financ¢al Reporting Standatd applicable to Ihe United Kingdom and Republic ol Ireland IFRS 1021-. ake judgements and esthmates Ihat a￿ reasonab￿ arKI pnjdent.. state whether 8ppltstAe United lfjngdom Accountiny StaThJards have been folk)wed, subject to arby material departures disdosed and explained in the finanaal statements.. and prepare the financKHI staternents on the going concein basis unless it is inappropriate lo presume that the charitable company will continue in operation. The Directors are re5ponsiblÈ for keeping proper aoctsunting records that are sufficient to show and explain the charitsble CA)mpany's Iransacth)ns and discltsse wlh reasonable accuracy at any bme the finan(ial position ol the charitable company and enable them to ensure that the finanaal siatement5 COm￿Y with the Companies Act 2006. They are also sponsibte for safe9uarding the assets of Ihe charitable company and hence for taking reasonable steps lor the prevention and detedion of fraud and other irtegularities. Approved by the Directors and svJned on their behalf ty: X Ped1S￿h P Hanna Director D￿￿10T Approved on.. 19h Cklober 2024 S¥wtchboaril LGBT+ (Company RegIstratiC￿ No. 02098685 IEngL8nd and Walesl} OFFlaAL Enveh¥e ID". IAOFB3AM71A426M04C.34CCAEA92626 Independent gxaminer's ￿POrt 31 March 2024 Independent exami￿￿¥ report to the Directors of Swit¢hbgard LG8T+ Dhe Company'l I report to the charty Directors on my examination of the accounts of the Company for the year ended 31 Mard12024. Responsibilities and basis of report As the tharrtys Itustees of the Company land also its directors for Ihe purposes of CCKnpany lawl you are responsible for the pieparatK)n of the %¢ounls in a¢¢Or(lan￿ with the requirements ofthe Companies Act 2006 Cthe 20C6 Adl. Having satisffied mysewthat Ihe attounts of the Company are not required to te audited under Part 16 of the 2006 Act and are e1￿ible for independenl examinatN)n. I reFort in respect of my examinatK)n of your ¢thavitls ac(x)unls a5 carried out undei Sedion 145 of the Charities Aci 2011 Cthe 2011 AcV)_ In carrying out rny examination I have followed the Directions gNen by the Chartty Commi5SK)n under Section 145151 Ibl of the 2011 Act. Independent examonerfs statèmènt I have completeil my examination. I confirm that ￿ matters have come to my attenlh)n in connecti)n with the examinalK>n gNing me cause to believe.. accounling iewrds weie not kept in reSP￿t of the Company as required by Section 386 of the 2CK)6 A(*". or 2. the accounts do accord wlh those rec￿d$.. or 3. the accounts do Thjt compty wlh the accounting iequiiements of Serthon 396 of Ihe 2006 Act other than any requirement that the accounts give a true and fair view is not a matter con5Klered as part of 8n i￿pendent examination.. or 4. Ihe 8crounts have not been prepa￿(1 in accordan￿ wth the methods and prinuples of thè Statement of Re￿rnrnended pract￿ for accouThting and reEK)rting by chaTities (applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS 1021). I have no c￿CernS and have con* across no olhet matters in conneLlion with the examiriation to vthich attention shoukj be drawn in this report in order to enable a proper understanding of the acctsunts to be reached. rft/06b Matlhew DobtM"n5 FCA Dunklels Chartered Accounlants Woodlands Grange Woodlands Lane Bradley Stoke BS32 4JY Datè". OFFICIAL Statement of financial activities Year to 31 March 2024 (including an income and expenditure account) Unrestricted Re5tri¢ted lunds funds Total Unrestricted Restricted Total 2023 2024 Jnd5 funds Notes Income from- tk)nations 2nd legaaes Interest recewab Totsl income 549.718 26A71 576.189 549.718 26,471 576.189 649.827 9.192 659.019 649,827 9.192 659.019 Expenditure on.. Rai$ing fuThls R8ising don81ion5 Chariiable actnfrties . Supportsng pe4) . Prw$￿n ol inf0m￿l￿n Totsl expenditure 163.784 163.784 58,519 58.519 39&711 395,711 267.246 287.246 126.300 685.795 349 349 126.649 686.1 86.481 412.226 86,461 412.226 Net income beforÈ loss on disposa5 of rixed assets 1109,6061 13491 1109.9551 246.793 246.793 Loss on dtsposal of tangib￿ fixed assets 13.7091 13.7091 11,4401 11,4401 Net income arKI r￿1 movement in funds 1113.3151 13491 1113,6641 245.353 245.353 Reconciliation of funds.. Fund ba13nce5 at 1 April 1.902,62S 349 1.902.974 1.657.272 349 1.657,621 Fund balances al 31 March 1.789J10 1.789.310 1.902.625 349 1.902,974 All recogni5ed 98ins and losses are induded in the above statement of f￿an¢￿￿1 a¢tivrtles. l of the charitable Gornpany's actNitie5 derived (rom conbnuin9 operations during Ihe above two rinanckAI year5. OFFIOAL Docuygn Enveknpe ID. 1AOFB3AA471A426&A04G34CCAEA92626 Balance sheet 31 March 2024 2024 2024 2023 2023 tes Fixed a55ets Tangible assets Intangib￿ assets Long tem derKtsits 206.277 35,000 324.336 565.613 224.503 10 13 85.rMY> 309.503 Current assets rkbior$ Cash al bank Shert lemi deposits 112.489 775.861 339.301 1.227,651 62.455 1.024.783 510.cno 1.597.238 12 13 Liabilitie5 Creditors." amounts falirMJ d w*hin one year Npt current a55elS 14 13,9541 13.7671 1.223,697 1,593.471 Total net assets 1.789,310 1,902.974 RepTe5ented bythe funds ofthe charity= Unrestrlcted funds General funds Tangble fixed assets IvrKI DeS￿nated fund5 . Dwer5ity fvrxl 1,533.033 206.277 1.e28.122 224.503 16 S0.OCX) Restricted funds . BVJ Lottw fund 17 349 349 1.902.974 Ttstol fvnd$ 1.789.310 For the *nanual year in quesb.tsn the company was entrfed to èxempb.on under section 477 of the Companies Act rel8bng lo small cJ)mpanies. No mernbeis have required the companytoobtain an audrt tsf rtsa¢¢ounts foitheyeai in questK)n in accoidance wrth section 476 of the Companies Act 2(K6. The Directors a¢kno￿edge their responsibility for comptying wth the requiTement5 of the Act with iespect to accounting records and for the preparation of accounts. These accounls have been PrePa￿d in accordance wth the provision5 appI￿ab￿ to companies subject to the small companies. regime. Approved by the Directots and signed on their beha￿ by". &r9Bi¥'59t*T41Q. X Pedisich P Hannam Director Director Approved by the D1￿clOr9 on." 1W October 2024 Switchboard LGBT+ {Company RegiStrab"on No. IY2098685 IEngland and Walesll OFFiaAL DotyAgn E￿￿Ope ID IAOFB3M471A426&A04C44CCAEA92636 Statement of cash flows Year to 31 March 2024 2024 2023 Notes Cash from operating actlvrt6es'. Nei ¢ash provKJed by 0￿rating acbvrtEs 1163.1321 202.693 Cash from imfesting activities: Interest le￿Ned Increase in investrnenls Purchase of in1arvJib￿ ￿ assds Purchase oftareble fixed asset5 Net u$h lus￿ ithl investiny activttles 26.471 9.192 168.8371 1167.1091 136.0001 17,6241 185,7901 134,5991 1192.5161 Change in cash and equivalents In the year 1248.9221 10,177 Cash and cash equivatents ai 1 Awl 8 1.024.783 1,014,606 Cash and cash equr¥alents at 31 Marrh 775.861 1,D24,783 Notes to thè ststement of cash flows for the year to 31 Afjarch 2024 A Reconeiliation of net movement In funds to net cash provided by operatin9 activities 2024 2023 Net mo¥8ment in funds la5 perthe ststÈment of financial activities) 1113.6641 Adjustsnenls for. DepreoatK)n ¢harge Loss on disposal of fixed asset Interest ￿1vab Ilncreasel in debtors Increase in creditors Nel cash provided by operalSng activities 245,353 23.141 3,709 126.4711 150.0341 187 24.458 1,440 19.1921 160,1201 754 1163,1321 202.693 B Analysis of cash and Cash equivalents 2024 2023 Total cash and cash equivaknts 775,861 1.024.783 The charitatAe company held no loThJ temi debt at any time during the year ended 31 March 2024 and Ihe year ended 31 MarGh 2023. OFFICIAL (A￿51q￿ En¥dope ID 1A0FB3AM71A4￿Ao4&>Cc*£￿92 Principal accounting policies Year to 31 March 2024 The wnapal accountiig pdities adopted. judgernent5 and key sources of eslim8tion uncertainty in the preparation of the fina￿la1 statements are laid out belcw. Basis of preparation These financial staternents have been prepared for the year to 31 March 2024 with comparative ￿fOrMation piovKled in respect to year ended 31 March 2023. Theffinancial 5talerTEnts have been prepared underthe historical cKJst convention wilh item5 recognised at cost or transaction value un￿sS otherW￿e stated in the le￿vant accounting licies below 01 the notes to Ihese financial staternents. The finan¢t￿ statements have been prepa￿d in accordance with Accounting aThJ Reporting by Charities: Statement of Recornmer￿ed Pr￿1￿ app1Kxbk to charib"e5 preparing their rinanual statements in accordance MU) the Financial Reporting Standard applicable in the United Kingdom and Republ￿ of Ireland (Charities SORP FRS 1021, the Financial Reporting Standard applicab￿ in the UK and RepublK of Ireknd IFRS 1021 and the Companies Act 2006. The ¢haritabk company constitules a public benefft ents.ty as defined by FRS 102. The financial stalements are presented in sterting and are rounded to the nearest pound. Critieal acct￿nting e$timate5 and areas of judgement PreparatK)n of the finan(ial StsieffteTrts requires the Directors lo m8ke significant judgements and esimates. In the finanual slalements, judgements and estimates have been made in ests"matr"ng the useful economic lrfe of tangib￿ fixed assets in order to detetrnine the annual depreciation charge and in apportioning govemance costs. Assessment of going concern The Directors have assessed vknether the use of the going c4)ncem assumptB)n is appropriate ¢n preparing these financial ststernents. The Diiectot5 have made this asseSSmentf￿ a period of one year from the date of approval of these financial statements. and have conSide￿d the impadof the current economic clunate on the charity s operations. The Directors adtnprises donth.ons and ￿9aC#eS. incorne frorn fundraising events and interest retsNable. Donationsare recc¥Jnisedwhenthe charitsble￿mpanyhaS confirmation oftx)th the amount and settlement date_ In the event of donats.ons pledged but nol received, the amount 15 accrued for where Ihe receipt is considered probable. In the event that a donation is subject to condstions that require a level of perfoymance before the Charitab￿ company is entitled to the ttjnds. the incA)me 15 deferred and not recognised until either those conditions are fully t, or the lulfilment of those conditK)ns 15 wholly wrthin the control of the charitable company and il is probable that those conditions wll be fulfil￿d in the reporting period. In accordance vAth the Chatibes SORP and FRS 102 volunteet time is not recogni5ed. Legacies are included in the statement of finanual activities when the charitable cornpany is entitled to the legacy, the executors have established that there are sufficient 5uipIus assets in the estale to pay the legacy, and any condiiKJns attached lo the legacy are within the wntrul oftlE d￿rItab￿ company. Entitlement is taken as the earfEr of Ihe date on etther.. ihe charitable company is aware that probate has ￿en granted, the estate h85 been finali5ed and nolifKation has been rnade by the executor to the charits￿e cornpany that a distribulion will be made, or when a ¢Jistributv)n is re￿ived from the estale. Receipt of a *ary, in whole or in part. is only considered probable when the amount can be meaSUTed ￿liablY and the charitable ctxnpany has been Tholif￿d of the exeojlorfs inlention to rnakea dislributk)n_ Where legaues have been notffied to the Gharitable cc¥npany, or the charitable cornpany is aware of the granting of probate. bul the criteria for incotne recognith)n have not been met, then the gacy is treated as a contingeat asset and disdosed if material. In the event that the gift is the form of an asset other Ihan cash or a financial asset tratjed on a recognised stock excharvJe. rerA)gnitK)n is subject lo the value of the grft being reliably measurable with degree of Teasonable accuracy and the lil* of the 85sel having being transfe￿ed to the Charitab￿ company. Irthme from fvndraising event5 is 8w>unted for %then the charitable wmp3ny is entitled to the incomè i.e. usually ￿ the day of the event. Interest on fund5 hekl on deposit induded when receivab￿ and the amount can be measured relabty by the Ghatty, this is Th)rmally upon notfvatK)n of the interest paid of payable by bank. OFFiaAL Prlnclpal accounting policies Year to 31 March 2024 Expendlture reeognition and basis of apportioning costs Expenditure ¢s induded in the statement of financAI activthes wh&) incurred and indudes IIE attributab￿ VAT whKh cannot be recovered. Resources expended comprise the fdknwing categ￿leS. a. Expendrtureon raising funds indude5 those cost5 a5SOCiated with generating donations. b. Exwdrture on Charrtab￿ a¢*vibe5 I￿1p￿SeS èxpen(rrture on the provision of informatKTrn and 5UPPOrt Vkl a telephone hdpline website. Governan￿ costs. comprising the costs of govem•w the Charitab￿ company and ensuring it meets rts statutory reporting obligaltsjns, are all￿ated across e¥penditure categories in proportion to the costs incur￿. The majorrty of other costs are directly attributable to expenditVTe calegories and any other apFK)itionment between headings is negligible. Tanglble fixed assets l assets cosling mole than £5CX) and vthich have an expected useful lrfe exceeding one year are capitalised. Depreciation is provided at Ihe fdknwng annual rates in order to write off each asset over its estimated Ltselul lrfe". • FTeelM)Id property 3.33% on reducing balance • Fumrture, ffib.ngs and equipment 10- 25% on reducing ba13nce Intangiblè fixed assets Intangib￿ fLKed assets relale to So￿a￿ and the *tbsite. Costs are capitalised when they are incurred and meet the captalisath)n criieiia. Amortisation 15 provided at the folbwng annual rales in order to write off each assel over Is ests"mated useful lrfe". • Website straYJht ￿ne over 3 years Debtoys Debtors are recognised altheir selttement amount. ￿$$ any provision for non-recoverability. Piepaytnents ale valued al the amount prepaid. They have been discounted to the present value of the future cash receipt whefe suth dIS￿￿nI¢ng is material. Cash at bank and In hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of kss than thiee rnonth5 from the date of acquisition_ Deposits Deposits represents balances held wilh third parties ITh deposit accounts. Short tem deposits have maturities of over three months from Ihe date of acquisition but less than one year and long tem (kposrts have deposits over one year. The balances afe held at C05t. OFFICIAL DoGu$iun Envdope ID. 1AOFB3AA47%A426&A04&34CCAEA92636 Principal accounting policies Year to 31 March 2024 Crèditors and provisions Credrtors and pro￿SKy￿S ate tecognised vthen there is an oblwJab"on at the balance sheet dale as a resuft ol a past event, it is Kwoba￿e that a Iran5fei of economic benefrt will be required in seluement. ar￿ the arnount of the settlement can be esb"fflated reliably. CredrtOF5 and provisions are tecognised at the amount the charÉtable company antiapates it wll pay to settle the debt. They have been discounted to the present value of the future cash paymenl where such di%ounting 15 rnatetial. Fund accounting Fvnds held by Ihe Charitab￿ (x)mpany are as folows: The general fvrKI cx)mprisès those mon*s vthich may be used towards meetin9 the chaiitable objectives of the charrtable company and ￿lch may be applied 8t the di5cretioTr of the Direciors. • Thetar*Jible fixed assetsfund represent5 the net Lxjok value olthecharilable company's tangible fixed assets. • The designatéd funds are monies set aside out of general funds and designated for Spectr￿ purposes by the Directors. • The ￿Str￿edIuDds are rnonies raised for. and theiruse restri¢led to, a specthcpurpose, or donations subjectto donor itnposed condrtions. Further explanation of the nature and purpose of each of Ihe designated and restricted funds is induded in the notes to the financ￿1 slalements. OFFICIAL DoGu5￿￿ Envebpe ID". 1AOFB3AA471A426WIC44CCAEA92626 Notes to the flnanclal statements Year to 31 March 2024 1 Income from donation$ and legacies 2024 2023 Corwrale donations Legacies Comrnunty donalions aThJ FrieTh of &wlchboard 393.691 361,057 167,518 158.027 549.718 121,252 649,827 2 Expenditure on raising donations 2024 2023 Staff costs Premi5e5 Opemting C￿lS Other direct costs Go¥eman¢e costs 19.407 2.245 31.398 2.610 83,157 46,269 1,782 163.784 5.489 58.519 3 Expendlture on supporting people 2024 2023 Staff costs Premises Operating tXJSts Other direct ttjsls Govemanf* ¢X)Sts 191.781 38,2BS 136.933 24,405 4,307 395.711 124.214 32.932 e6,760 16.363 24,977 267,246 4 Expenditu￿ on the provision of information 2024 2023 Staff costs Premvaes Operaiiro cos Governan￿ ¢0s15 77,911 13,052 33.959 1,378 t26,300 50,462 11,228 16.69) 8,081 86.461 OFFICIAL $vJn EnNdope10. 1ADFB3APA71U26U04C-34CCAEA92636 Notes to the financial statements Year to 31 March 2024 S Governance costs 2024 2023 Prwni5es OtEraliry tos Other d￿cl cos15 1,74C* 3.833 1.894 7.467 1.497 14.229 22,802 38,528 6 Net income and net movement in funds This 518ted after thargiThJ'. 2024 2023 Staff costs Inole 7) DeprecK31v)n Independtnt exami￿￿5 remuneratson lind￿￿￿j VAT) 299.658 22,141 2.160 194.083 24.458 2,400 7 Staff costs and related party transactions 2024 2023 Wages arKI 5abr*s SOCBI 5ecurty ctsts pens￿￿$ 261.806 27.761 10,091 299,658 168.810 18,377 7.096 194.083 The ave18ge number ol emptyees during the year was seven {2023- fwel. One empbyee eamed more th8n £60.rA)O per annum12023- none). The Directors comprise the keyTnanagemerrt personnel ofthe charitable company in Gharge of directing and controlling, runniThJ and operating the charitable company on a day lo day basis as wèll as the Chief Executwe Offrer. No Director le￿IVed any iemunerab.on fortheir serwces as Director. the Chief ExecutNe Off￿e recewed rem￿eratIOn of £69.701 12023- £54.7421 Five12023- six) Oirectors received reimbursement ol their expenses as a director totalling £1,20012023- £6101_ The paymetlts were in relaliorh lo reirllbut5ement for travel expenses and inadental costs for supporting training courses. There were no other related party transactwjns in the year12023- none). 8 Taxatlon SwitchboaTd LGBT+ is a reg￿tered Charity and, the￿fOre. is liable to income 18x or poralion lax on inrATrrne derived fr¢Jn rts charilabie activit￿$, as rt fa115 within the varfous exernption5 avaikble lo regi51ered chwiiies. OFFICIAL r*xuyon Erwew ID." IAOF83AA471A426W4C-34CCAEA92636 Notes to the financial statements Year to 31 March 2024 9 Tangible fixed assets FuMi￿re. Freehc4J frttiNJ$ an property equiprÈnl Totsl Cost At 1 April 2023 Addit￿n$ Disp05aL5 At 31 March 2024 228,384 202,217 7.624 18,1761 201.665 430,601 7,624 18.1761 430,049 228.384 Depwiation At 1 April 2023 Charge fer the year Eliminated ￿ diswjsal At 31 M8rch 2024 142.979 2.847 63.119 19.294 14.4671 77.946 206.098 22.141 14.4671 223.772 145.828 Net book values At 31 March 2024 At 31 March 2023 82.558 85.405 123.719 139.098 206.277 224,503 The Direclors a￿ of the opinion that the open market value of the charitable company's f￿hold property is in excess ol rts net botsk Val￿e. However. the Directors do nol believe Ihat the costofquantÈfying the dIffere￿e is commensuratewith any aikled benerrt thatwould gained by a user of these finatKial statements havirrfj access to such informatk)n. 10 Irrtangible fixed assets Website Cost At 1 April 2023 Addilthjns At 31 March 2024 Depreciation At 1 April 2023 Charye for the year At 31 Mar¢h 2024 1.OCI) Net book values At 31 Maich 2024 At 31 March 2023 35.r OFFICIAL tktu*gn E￿￿ope ID lA0F83￿71A4￿&A04￿ec￿EA92636 Notes to the financial statements Year to 31 March 2024 11 Debtors 2024 2023 Prepayments and accrued income 112.489 62,455 The increase in the debtors reflecis a L3Tge acc1￿ inccxne balance in relatK)n to a porate donatKJns Ihat We￿ ￿ceiVed post year end. 12 Cash at bank 2024 2023 The Royal Bank of SCcrt￿￿j pt CAF Bank Limrted FI￿S1one PayPal P￿0 17,215 393.578 358.030 14,450 570,036 409,444 28.935 3.918 1.024.783 7.03B 775,661 13 Deposits 2024 2023 Flag5tone- short tem Fla9slone- long temi 339,301 324,336 663,637 510.mo 85,CKIO S95,￿0 14 Creditors- amounts falling due within one year 2024 2023 A¢truals Olhercr&litois 2,160 1.794 3,954 2.400 1.367 3,767 15 Tangible fixed assets fund 2024 2023 Al 1 April Nel movements in year Al 31 March 224,503 118.2261 206.277 215,803 8.700 224,503 The tangibk fixed assets lund repTesents Ihe nel book value of the charitable company's tangible fixed assets. The fund has been created in ordei to emphasise the fact that the assets ale fundamental lo Ihe chaiitable company's a¢tNities and a￿ not readily iealisable. i.e. they do not represent liquid resoU￿S available to the Directors. OFFICIAt Dow4n En￿knpe ID." 1AOF83M471M26U04C-34CCAEA92636 Notes to the financial statements Year to 31 March 2024 16 Dosrynated funds The income funds of Ihe chaatable company indLwJe the following design8ted fund5 which have been set aside out of unrestricted funds by the Directors for Specif￿ purposes.. At 1 April 2023 At 31 March 2024 N&¥ designations Utilise(Y re￿aSed "versty fuTrJ 50.0 Designated fvnds are decide(l on by Dire(aor5 in the light of the charitable company'5 future commttsnents and strntegy. Diversity lund The ONersrty fund comprises rnonies se(aside lo enable the charitable cornpany to fund work Ihat improves the (fjvetsrty of the orgarnsabon. as this Is recognised as a key priorty and cannot be ignored even %then money may be tight. 17 Restricted funds At 1 April 2023 At 31 March 2024 In¢ome Expenditure and trdnsfers Bpj Llltery fund 349 13491 13491 349 At 1 April 2022 Ewenditure an Ir¥nsfet5 Al 31 March 2023 In(x)mÈ Lottery fund 349 349 349 349 • Big Lottery fund The Big Lottery fund comprises 8 grant receNed durp)g a p￿VIOuS year to be applied lowards meeting expendrtuie on the phone room aTrJ ofte computers and software logether wth iPads for fundraising events. OFFIOAL t￿￿S¥Jn Envew ID 1AQFBW471M%&A04C44CCAEA92836 Notes to the financial statements Year to 31 March 2024 18 Analysis of net assets between funds Unre5titted funds Tangib xed assets Dpsignated Restricted fvnd fund5 fund5 General nds Total 2024 Fund balances at 31 March 2024 are represented by.. Tangible fixed assets Lon9-lertn deposits Nel current assets Total netassets 2O6.Z17 206,277 324,336 1,223.697 1.754,310 324.336 1.173,697 1.498.033 50,000 so.000 206.277 Unrestricted fur￿5 Tangble fixed assets Desgnatey Reslrided nd tunds fund5 General funds Total 2023 Fund balances at 31 Varch 2023 are represented by.. Tang￿lefIxed assets Long-tetrn deposits Nel curtenl assets Total nel a55e15 224.503 224,￿3 85,0 1.593,t171 1,902,974 85.1 1.543.122 1.628.122 349 349 224.503 50.000 19 Members. liability In accordance bwth Ihe charitable company's Metnorandum of Association. every member of the company undertakes to contribute to the assets of the chaiilable company if it is urKI up during the time that they are a member, or within one year. Such contributions a￿ to be apptsed towdrds payment of Ihe debis and liabilitEs of the charitable company contraded l￿re the ￿"me at which they ceased to be a member, the costs. charges and expenses of winding up of the same. arld for the adjustment ol the righis of the contributors amongst Ihemsefves. The conltibuiK)n that may be required Shall not exceed £1. OFFICIAL Note5 to the financial statements Year to 31 March 2024 16 D•slgnatsd funds The income funds ol the charitable company include the following designated funds which have been set asiile oul ol unrestricted fvnds by the Directors for specific purposes". At l April 2023 At 31 March 2024 Utilisedl released desvJnations Diversity fuNI 50,0(TrO DesKJnaled furKls are deaded ￿ by the D1￿CtorS in the IwJht of thè charitablè company's future o)mmitmenis and stralegy. • Div•rsity fvnd The dNersity fund comprises monies set aside to enable the charitable company to fund work that improves the diversity of the organisation. as this is recognised as a key priority and cannot be ignored even when nM)ney may be light. 17 Restrlcted funds At 1 April 2023 At 31 March 2024 Income Eypenditure and trdnsfers Big Lottery fund 349 349 13491 13491 Expenditure and transfers Al 31 March 1 April 2022 Income 2023 Big Lottery lund 349 349 349 349 • Big Lottery fund The Big Loitery fij1￿ tx)rnpri5es a gr8nt receNed during a previous year io be applied towards meeling expenditure on Ihe phone room and oftice computers and software logether with iPads for fundraising evenis. Switchboard LGBT+ 25 Notes to the financial statements Year to 31 March 2024 18 Analysis of nèt assèts b•two•n funds Un￿StriCted funds Tangible rixed assets Designated Restricted fvnd funds fund5 Genetsl funds Total 2024 Fund balartces at 31 Marth 2024 are represented by= Tangible fixed assets L￿g.tern1 dwts Net CUTrent assets Totsl net assets 20627T 206,277 324,336 1.223.697 1.754,310 324.336 1,173.697 1.498.033 50,000 so.0￿) 206.277 Unrestrirted funds Tangible fixed a55ets Designated Re51ricted fund furK$5 funds General funds Total 2023 Fund balan¢*s al 31 Mareh 2023 are represented ty.. Tangible fixed assets Lcffjg-lern deposits Net current assets Total nel assets 224.503 224,503 85,000 1.593,471 1.902,974 1.543.122 1.628.122 50.000 50.CKX) 349 349 224.S)3 19 Members, Ilabillty In accordanee with Ihe charit8ble