OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Turning Lives Around Ltd

2025-03-31-accounts

TURNING LIVES AROUND LTD (A company limited by guarantee)

Supervisory Board Report and Financial Statements For the year ended 31 March 2025

Charity number 515300 Company number 01790817

2

.

TURNING LIVES AROUND (A company limited by guarantee)

Financial statements for the year ended 31 March 2025

CONTENTS

----- Start of picture text -----
|||| |---|---|---| |PAGE| |Legal and Administrative Information|3| |Report ofthe Supervisory|Board|4-10| |Report of|the Independent Auditors|11-14| |Statement of|Financial Activities|15| |Balance Sheet|16| |Cash Flow|Statement|17| |Notes on the Financial Statements|18|- 37|

----- End of picture text -----

3

Legal and administrative information Charity name Turning Lives Around Ltd Charity registration number 515300 Company registration number 1790817 Registered office and Photon House Administration address Percy Street Leeds LS12 1EL Supervisory Board Mr. M. Ford Chair Mrs. M. A. Ballance Mr. M. White Mr. A. Shahab Mr. S. Heffernan Mrs. S.D.W. Nyirenda Mrs. H. Quinlan Mrs. R. Foley Mr. G. Gallacher

Chief Executive Mr. S. Hoey Finance Director and Company Secretary Mr. A D Marriott BA FCCA Auditors Brown Butler Chartered Accountants Leigh House 28 — 32 St. Paul’s Street LEEDS LSi 2JT Bankers Lloyds Bank plc PO Box 128 69 Albion Street LEEDS LS1 1YX Solicitors Weightmans lip 100 Old Hall Street, LIVERPOOL, L3 9QJ

4

Report of the Supervisory Board

The members of the Supervisory Board present their report and the audited financial statements for the year ended 31 March 2025.

Members ofthe Supervisory Board

The members of the Supervisory Board during the year were as follows;

Mr. M. Ford Mrs. M. A. Ballance Mr. M. White Mr. A. Shahab Mrs. S. Pauley (resigned 6" June 2025) Mr. S. Heffernan Mrs. J. Maples (resigned 6” June 2025) Mrs. S.D.W. Nyirenda Mrs. H. Quinlan Mrs. R. Foley Mr. G. Gallacher (appointed 23" April 2024)

Members ofthe Supervisory Board are directors ofthe company for the purpose of company law, and trustees for the purpose of charity law.

Accounts

The members of the Supervisory Board submit the audited financial statements for the year ended 31 March 2025. As set out on page 15, the net incoming resources for the year amount to a surplus of £528,266 (£456,428 in 2024) and are dealt with as shown in the statement of financial activities. General funds are reporting a surplus for the year of £510,611. Restricted funds showed a deficit for the year of £1,193. Designated funds showed a surplus for the year of £18,848.

Impact Statement

As a result of the company having to comply with the requirements of FRS102 regarding Retirement Benefits within the financial statements, we are required to report the pension liabilities for the legacy staff from Leeds City Council that are members of the West Yorkshire Pension Fund (WYPF). The WYPF scheme is presently reporting a surplus, however, as recognition of the asset is governed by FRS102 and due to the uncertainty of gaining any economic benefit the trustees have concluded to report neither an asset nor 2 liability at the year-end date which more accurately reflects the position.

Status

Turning Lives Around is a company limited by guarantee and has no share capital. At 31 March 2025, there were 35 members (2024 - 35), each ofwhom has guaranteed to contribute an amount not exceeding £1 in the event of the winding up of the company. The company is a registered charity number 515300.

The company is governed by its Memorandum and Articles of Association which outlines the objects and powers ofthe charitable company. Under the company's Articles of Association, one third ofthe members of the Supervisory Board retires by rotation at the AGM and are eligible for re-election.

5

Report of the Supervisory Board (continued)

Governing body — Skills of Supervisory Board

The charity’s work focuses upon accommodating and supporting vulnerable homeless people. The Supervisory Board seeks to ensure that the needs of the service users are appropriately reflected through the diversity of membership. To enhance the potential pool of trustees, the charity has, through selective advertising, sought to identify potential trustees. The more traditional business skills are well represented on the Supervisory Board. In an effort to maintain this broad skill mix, members of the Supervisory Board are requested to provide a list of their skills (and update it each year). In the event of particular skills being lost due to retirement, the charity will seek to recruit new members to the Board possessing those skills. Pay and remuneration of key management personnel is set by reviewing the market rates for those positions and also to compare rates with competition in the same locality and sector.

Trustee induction and training

New trustees are encouraged to attend an induction programme, which includes meetings with the Chief Executive (explanation of operational procedures) and Finance Director (explanation of budgets and accounts). This would be followed by visits to each of the charity’s schemes.

Operational] Structure

Turning Lives Around has a Supervisory Board of up to fifteen members who meet quarterly and are responsible for the strategic direction and policy of the charity. At present the Board has nine members from a variety of professional backgrounds, relevant to the work of the charity. The Secretary also sits on the Board but has no voting rights. The Supervisory Board is supported by a Finance and Audit Sub Committee Board that also meets quarterly. A scheme of delegation is in place and day-to-day responsibility for the provision of the services rest with the Chief Executive and Finance Director, The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. Senior Managers who report directly to the Chief Executive, have responsibility for day-to-day operational care of the charity, individual supervision of the staff team and also for ensuring that the teams continue to develop their skills and working standards in line with good practice.

Insurance

In accordance with normal commercial practice, the charitable company has purchased insurance to protect the directors and officers from claims arising from negligent acts, errors or omissions occurring whilst on charitable company business. The insurance provides cover up to £1,000,000 on any claim. It is not possible to quantify the directors and officers indemnity element from the overall cost of the commercial insurance policy. The cost of this insurance forms part of the total insurance cost.

Objectives and Activities

The charity’s objectives are:

The prevention and relief ofhomelessness, psychological, or emotional harm, poverty, sickness, infirmity or old age, and provision of support for those at risk of these through: - The provision of services and accommodation that may prevent, relieve, reduce, or end homelessness, physical, psychological, or emotional harm, poverty, sickness, infirmity or old age in a sustainable way.

6

Report of the Supervisory Board (continued)

ActivitiesThe principal activities of Turning Lives Around during the year continued to be the provision of supported housing for single homeless people. Turning Lives Around continues to provide supported housing and floating support services throughout the cities of Leeds and Wakefield, for which demand remains high. During the year no material goods or services were donated to the charity to further its objectives or

activities.

The strategies employed to assist the charity to meet its objectives include the following:

Partner Agencies

----- Start of picture text -----
|||| |---|---|---| |Accent Group|Leeds Federated Housing Association| |Children in Vulnerable Accommodation (CHIVA)|Leeds Metropolitan University| |Connect Housing|Leeds University| |Drugs|& Offender Management Unit DOMV)|Leeds Youth Offending Team (YOT)| |Huddersfield University|Places for People| |Leeds Children’s Fund|Sanctuary Housing Association| |West Yorkshire Probation Service|Inspire North| |Gipsil|Invest North Ltd| |Unity Homes|Touchstone| |Leeds City Council|Wakefield City Council| |Horton Housing|

----- End of picture text -----

Financial Review and Funding Sources

In 2024-2025 Turning Lives Around still experienced problems in recruitment and retention and the financial impact of using agency workers was as significant, if not more so, than the previous year. As this problem does not look to be going away and because the financial and operational risk to Turning Lives Around is significant the charity is actively looking at how to minimize the use of agency workers in the future.

7

Report of the Supervisory Board (continued)

After a successful review and update of the charities property funding in 2023/24 it was stil] very apparent that although the financial year to 31 March 2025 and 31 March 2024 did benefit from a welcome partial uplift in funding for its Beacon support contract the contract funding for client support was lagging behind the property funding and has been addressed for 2025/26.

Tuming Lives Around’s good management of voids and the control of major spending areas has been a major impact in achieving the result for this financial year. The majority of services generated a surplus during the year to 31 March 2025. Turning Lives Around has benefitted from a second year of surplus after previous years deficits and this continues to rebuild the charity’s reserves from a very depleted position. The clients we aim to help through the services it provides continue to get more and more challenging with more complex needs and this will need to be reflected in future contract reviews. The future is still going to be challenging, contract renewals have been negotiated with respective increases in funding and colleagues and clients will benefit from those increases. The organization continues with fundraising activities aimed at the private sector, philanthropic organizations and also from individuals.

The Statement of Financial Activities (SOFA) for the charity made a surplus of £528,266 in the year. See reserves policy set out below for the impact this has had on the charity’s reserves.

Principal Funding Sources

Leeds City Council Neighbourhoods and Housing Department Leeds City Council Social Services Department Wakefield City Council Housing Sustainment Pathway

Capital Funding

Right to Buy Replacement Programme Funding

Other Charity Funding

Henry Smith Charity Basis

Achievements and Performance

The Services

The main area of charitable activities continues to be provision of accommodation with support and outreach work for vulnerable homeless people. Turning Lives Around works across all the geographical locations in Leeds and Wakefield.

Turning Lives Around provides housing and support services to people struggling to cope with a broad range of issues including mental health, learning difficulties, drug and alcohol abuse, domestic violence, refugees and offending integration. Our aim is to support people in developing the skills, knowledge and confidence necessary to live successfully and safely in their own homes and to engage effectively within their community.

Every year we regularly seek the views of all our stakeholders by means of a questionnaire. The returned questionnaires are analysed and any suggested improvements to our services are addressed.

8

Report ofthe Supervisory Board (continued)

Performance in ali contracts has been successful and the charity continues to strive for and safeguard healthy reserves.

Measures or indicators to assess performance include: monthly Management Accounts compared to budgets, cash flow management and forecasts, void performance by service and for the organisation, planned outcomes, client outcomes, complaints and incidents, utilisation levels of properties and staff attendance.

Safeguarding

Turning Lives Around continues to place the Safeguarding of adults and children central to all the work we do. We have highly experienced and well trained Senior Managers who lead on Safeguarding issues and all staff regularly receives Safeguarding training.

Future Plans

Turning Lives Around is investing in the purchase of properties to increase its own stock. Turning Lives Around is on track to becoming a Registered Provider of Social Housing. Turning Lives Around also plans to further its work in related areas and to extend its services further into different regions within Yorkshire. Turning Lives Around seeks to advance its commitment to a social enterprise and now operates a work-focused initiative to employ and train existing service users.

Fixed assets

Movements in fixed assets are shown in note 14 in the financial statements.

Reserves policy

In line with the Charity Commission guidelines the Members of the Supervisory Board have formulated a reserves policy to ensure that a minimum level of reserves is maintained to ensure that Turning Lives Around can continue to provide a level of service having regard to possible future fluctuations in both income and expenditure.

As set out and explained in note 20, the charity has a number of designated reserves to meet specific expenditure as well as an unrestricted general reserve.

Thesereservesare setoutbelow; 2025 2024
£ £
RestrictedFunds(note 19)
DesignatedReserves(note20)
GeneralReserves(note20)		 353,175
130,296
1,007,272		 354,368
111,448
496,661
Totalbeforepensionliability
PensionReserve(note20)		 1,490,743
==
Bi		 ama 962,477
academe
. 1,490,743 962,477

‘The WYPF scheme is presently reporting a surplus, however, as recognition of the asset is governed by FRS102 and due to the uncertainty of gaining any economic benefit the trustees have concluded to report neither an asset nor a liability at the year-end date which more accurately reflects the position.

9

Report of the Supervisory Board (continued)

Risk management

The Supervisory Board has conducted its own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Significant external risks to funding have led to the development of a forward plan which has allowed and will allow for the diversification of funding and activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charitable Company. These procedures are continuingly being reviewed to ensure that they still meet the needs of the Charity and also to identify new areas in which the Charity could contribute to the disadvantaged ofthe city.

Statement of the responsibilities of the members of the Supervisory Board The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and ofthe income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

10

Report of the Supervisory Board (continued)

Statement as to disclosure of information to auditors In accordance with company law, as the company's directors, we certify that:

Auditors

A resolution proposing that Brown Butler Chartered Accountants be reappointed as auditors of the charity will be put to the Annual General Meeting.

PublicThe Supervisorybenefit Board have had regard to the Charity Commission’s guidance on public benefit and confirm that this guidance forms the basis of planning decisions at both strategic and operational levels.

The report of the members of the Supervisory Board was approved on aise. October 2025 and ‘be behalfby: Mr. AD Marriott BA FCCA Secretary

1]

Independent Auditor’s Report to the Members of Turning Lives Around Ltd

Opinion

We have audited the financial statements of Turning Lives Around (the “charitable company”) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (SAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusion relating to going concern In auditing the financial statements, we have concluded that the Supervisory Board’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Supervisory Board with respect to going concern are described in the relevant sections of this report.

Other information The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Supervisory Board are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

12

Independent Auditor’s Report to the Members of Turning Lives Around Ltd

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated, If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a materia] misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light ofthe knowledge and understanding of the charitable company and its environment obtained in the course ofthe audit, we have not identified material misstatements in the Supervisory Board’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Supervisory Board

As explained more fully in the Statement of Supervisory Board’ Responsibilities (on page 9), the Supervisory Board, who are also the directors ofthe charitable company for the purpose ofcompany law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Supervisory Board determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Supervisory Board are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concer and using the going concern basis of accounting unless the Supervisory Board eitherintend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

13

Independent Auditor’s Report to the Members of Turning Lives Around Ltd

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or etror, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Capability of the audit in detecting irregularities, including fraud

Irregularities, including fraud, are instances ofnon-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to deter material misstatements in respect of irregularities, including fraud. The key laws and regulations we have considered in this context included Health and Safety Act 1974 and Care Act 2014, the Companies Act 2006, the Charities Act 2011, pension and tax legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company’s ability to operate or to avoid a material penalty including compliance with the Charities SORP FRS102 (October 2019). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Using our general commercial and sector experience and through discussions with the Supervisory Board and other management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management’s own assessment of the risks that irregularities may occur either as a result of fraud or error.

We examined the charitable company’s regulatory and legal correspondence and discussed with the Supervisory Board and other management any known or suspected instances of fraud or noncompliance with laws and regulations.

We communicated identified laws and regulations and potential fraud risks of all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

In addressing the risk of management override of controls, we tested the appropriateness ofjournal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements. We also discussed related party relationships and transactions involving them.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

14

Jndependent Auditor’s Report to the Members of Turning Lives Around Ltd

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

rae € Nicola Taylor FCA (Senior Statutory Auditor) For and on behalf of Brown Butler Chartered Accountants and Statutory Auditor Leigh House 28-32 St Paul’s Street Leeds LS1 25T

QWQckonelL028

15

Statement of Financial Activities

(incorporating an Income and Expenditure Account) For the year ended 31 March 2025

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted| |General|Designated|Restricted|TOTAL|TOTAL| |Funds|Funds|Funds|2025|2024| |Notes|£|£|£|£|£| |INCOME FROM:| |Donations and legacies|3|-|26,789|26,789|109,437| |Charitable|activities:| |Contract funding|4|3,020,383|6,772|3,027,155|2,943,294| |Income from rent|4|5,346,635|5,346,635|4,508,181| |Other Trading Activities|5|48,121|48,121|51,677| |Investments|6|1,224|1,224|2| |Total|8,416,363|26,789|6,772|8,449,924|7,612,591| |EXPENDITURE ON|:| |Raising funds|7|88,744|88,744|93,453| |Charitable|activities:| |Support Services|7|3,121,396|112,646|7,965|3,242,007|3,289,830| |Housing Management|7|4,581,695|4,581,695|3,818,801| |Other Charitable|Services|7|-|-|-| |EEE| |Total|7,791,835|112,646|7,965|7,912,446|75,202,084| |Net Income / (Expenditure)|624,528|(85,857)|(1,193)|537,478|410,507| |Gross transfer between|funds|(104,705)|104,705|-|ee|-| |Net|Income / (Expenditure)|519,823|18,848|(1,193)|537,478|410,507| |Other recognised|gains &|losses| |(Loss)/gains on revaluation of|assets|(42,212)|(42,212)|22,921| |Actuarial|gains on|defined benefit| |pension scheme|33,000|33,000|23,000| |Exceptional Item| |Impairment Business 900|-|-|-| |——|eee|EEEaa inne| |Net movement|in Funds|§10,611|18,848|(1,193)|528,266|456,428| |Reconciliation affunds| |Funds|at|1|April 2024|496,661|111,448|354,368|962,477|506,049| |re| |Funds at 31 March 2025|1,007,272|130,296|353,175|1,499,743|962,477|

----- End of picture text -----

All the charitable company’s activities derive from continuing operations during the above financial periods.

The notes on pages 18 to 37 form part of these financial statements.

16

Company Number 1790817 Balance sheet as at 31 March 2025

----- Start of picture text -----
|||||| |---|---|---|---|---| |Note|2025|2024| |z|£| |FIXED ASSETS| |Intangible|assets|13|-|-| |Tangible assets|14|1,174,737|1,157,599| |Investments|———1,174,737|———=1,157,599=| |CURRENTDebtors|ASSETS|15|1,033,624|657,844| |Cash at bank and in hand|781,650|366,215| |1,815,274|1,024,059| |CURRENT LIABILITIES| |Creditors — amounts falling due within one year|16| (877,628)|(787,043)| |(877,628)|(787,043)| |NET CURRENT ASSETS/(LIABILITIES)|937,646|237,016| |TOTAL ASSETS LESS CURRENT LIABILITIES|2,112,383|1,394,615| |Creditors —|amounts falling due after one year|17|(382,054)|(297,257)| |Provisions for liabilities|18|(239,586)|(134,881)| |NET ASSETS excluding pension liability|1,490,743|962,477| |Defined pension scheme|liability|27|-|-| |NET ASSETS incl pension liability|1,490,743|962,477| |THE FUNDS OF THE CHARITY| |Restricted Funds|19|353,175|354,368| |Unrestricted Funds|20|1,137,568|608,109| |Pension Reserve|20|-|-| |Total Funds|1,490,743|962,477|

----- End of picture text -----

----- Start of picture text -----
These financial staternents were approved and authorised for issue by the Supervisory Board on
QS. OS yO[f 2025 and signed on its behalf by :-
us eds bE
[4 =>KE a
----- End of picture text -----

The notes on pages 18 to 37 form part of these financial statements.

17

----- Start of picture text -----
|||||| |---|---|---|---|---| |Cash|flow statement for the year ended|31|March 2025| |Note|2025|2024| |£|£| |Net cash flow from|operating activities|25|468,171|442,094| |Corporation|tax|-|-| |Cash|flow from|investing|activities| |Payments to acquire tangible fixed assets|(112,315)|(149,334)| |Interest received|1,224||2| |Net cash flow from|investing activities|(111,091)|(149,332)| |357,080|292,762| |Cash|flow from|financing|activities| |New loans|101,000|66,000| |Loan repayments|(17,330)|(14,736)| |Finance lease repayments|-|(14,734)| |Hire purchase repayments|-|(8,512)| |Interest paid|(25,315)|(|27,792)| |Net cash flow from|financing activities|58,355|226_| |Net increase/(decrease)|in cash|415,435|292,988| |Cash at|1 April 2024|366,215|73,227| |Cash at 3] March 2025|781,650|366,215|

----- End of picture text -----

The notes on pages 18 to 37 form part of these financial statements.

18

Notes to financial statements for the year ended 31 March 2025.

1. General information

Turning Lives Around is a company limited by guarantee and has no share capital. liability of each member in the event ofa winding up is limited to £1.

The

The charity is incorporated in England & Wales, is registered as a charity with the Charity Commissioners and is also a public benefit entity as defined by Financial Reporting Standard 102 the “Financial Reporting Standard Applicable in the UK and Republic of Ireland” (FRS 102).

Its registered office and principal place of business is:-

Photon House Percy Street Leeds LS12 1EL

  1. Summary of significant accounting policies

  2. 2.1 Basis of preparation

The financial statements have been prepared in accordance with applicable accounting standards including FRS 102 (2022), the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (SORP (FRS 102) issued October 2019) and the Companies Act 2006.

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The presentation currency is £ sterling and the financial statements have been rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently. applied to all years presented, unless otherwise stated.

2.2 Funds

Unrestricted funds are available for use at the discretion of the Supervisory Board in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Supervisory Board for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

19

Notes to financial statements for the year ended 31 March 2025.

2.3 Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised, the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and these require a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, they can be measured reliably, and the charity has control over the item. Fair value is determined based on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Grants received for the acquisition of fixed assets are accounted for as restricted funds. The restricted fund is reduced by the depreciation or amortisation charges made over the expected useful life of the asset concerned. Other grants are treated as income and, where applicable, they are accounted for as restricted funds. Where the grant covers future accounting periods, the amount relating to future periods is deferred and recognised in the correct period.

2.4 Wxpenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.

2.5 Support costs allocation

Support costs are those costs that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. The analysis of these costs is included in note 7.

20

Notes to financial statements for the year ended 31 March 2025.

2.6 Intangible fixed assets

Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged so as to allocate the cost of intangible assets less their residual values over their estimated useful lives. The annual rates and method of amortisation are as follows:-

Asset class Website

Amortisation method and rate 20% straight line basis

2.7. Tangible fixed assets Freehold property and leasehold property are measured at fair value at each reporting date with changes in fair value recognised in the SoFA. Other tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment Josses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Other than freehold and leasehold properties, depreciation is provided on tangible fixed assets ona straight line basis, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

Leasehold improvements - 5 years Motor Vehicles - Ayears Furniture and equipment - 2-10 years

2.8 Impairment of fixed assets

Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to its carrying amount. If the estimated recoverable amount is lower, the carrying amount js reduced to its estimated recoverable amount, and an impairment loss is recognised in the SoFA. The reversal of an impairment loss is recognised immediately in the SoFA.

2.9 Investments

Investments in subsidiaries are measured at cost less impairment.

2.10 Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment.

2.11 Creditors

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.Note 2 is continued on page 21

21

Notes to financial statements for the year ended 31 March 2025.

2.12 Leases

Fixed assets acquired under finance lease and hire purchase contracts are included in the balance sheet at cost and an appropriate provision made for depreciation. The outstanding liabilities under such agreements less interest not yet due are included in creditors. Interest attributable to each period is charged to the SOFA.

Operating lease rentals are charged to the SOFA as incurred.

2.13 Pensions

The charity operates a defined benefit pension scheme with the Local Government Pension Scheme (LGPS) and a defined contribution pension scheme. The assets of both schemes are held in separate trustee administered funds and those in the LGPS are subject to actuarial valuation.

The assets and liabilities of the LGPS are measured using the roll forward approach. This approach is a method of approximately calculating pension scheme assets and liabilities by making adjustments to the results of the last full actuarial valuation exercise. The last full actuarial valuation was performed at 31 March 2022. The amounts charged to the SoFA are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the SoFA and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial gains and losses are recognised immediately in other recognised gains and losses.

The pension costs charged to the SoFA regarding the defined contribution scheme are the premiums payable in respect of the accounting period.

2.14 Taxation

The charity considers that it meets the definition of a charitable company for UK corporation tax purposes and is accordingly potentially exempt from tax in respect of its income and gains.

2.15 Going concern

The financial statements have been prepared on a going concern basis as the Supervisory Board believe that no material uncertainties exist. The Supervisory Board have considered the level of funds held and the expected level of income and expenditure for a minimum of 12 months from authorising these financial statements, The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

22

Notes to financial statements for the year ended 31 March 2025.

2.16 Critical accounting estimates and assumption

The charity makes estimates and assumptions concerning the future and the resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The main area of estimates and assumptions that have a si gnificant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year relate to the estimates used in valuing the Local Government Pension Scheme (LGPS) and the properties held at fair value.

The present value of the LGPS defined benefit asset/liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost/income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 28, will impact the carrying amount of the pension asset/liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions assets and liabilities at 31 March 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension asset/liability.

The carrying amount of the properties held at fair value are disclosed in note 14.

3
Donationsandlegacies
CharityandConsolidated
Unrestricted
General
Designated
£
£
Donations
-
19,993
Othergrants
-
6,796
Sundryincome
-
-
-
26,789		 Restricted
£
-
-
-
-		 Total
2025
£
19,993
6,796
-
26,789		 Total
2024
£
56,461
52,976
-
109,437

Income from donations and legacies in the year ended 31 March 2024 was £109,437 of which £63,862 was attributable to designated funds.

23

Notes to financial statements for the year ended 31 March 2025.

4
Charitable activities
Contract funding Unrestricted
General
Designated
£
£		 Restricted
£		 Total
2025
£		 Total
2024
£
LeedsCityCouncil
Neighborhood’s andHousing
Strategy&Commissioning		 2,323,130 - - 2,323,130 2,263,962
Wakefield CityCouncil
‘Housing Sustainment
Pathway
Othergrants		 694,303
2,950
3,020,383_		 -
-
-		 -
694,303
6,772
9,722
6,772_3,027,155		 627,638
51,694
2,943,294

Income from contract funding in the year ended 31 March 2024 was £2,943,294 of which £2,803,511 was attributable to general funds and £49,783 was attributable to restricted funds.

Income from rent

Turning Lives Around provides accommodation for single homeless people. For the majority of
residents their only financial support is state benefit. Turning Lives Around charges rents to its
residents. The rate atwhich rent is charged isregulated by thehousing associations that itworks in		 Turning Lives Around provides accommodation for single homeless people. For the majority of
residents their only financial support is state benefit. Turning Lives Around charges rents to its
residents. The rate atwhich rent is charged isregulated by thehousing associations that itworks in
partnership with.
Unrestricted
Total
General
Designated
Restricted
2025
£
£
£
£		 Total
2024
£
Rentreceivable
5,844,631
-
-
5,844,631
Voids
(430,045)
-
-
(430,045)
Baddebtswritten-off
(67,951)
-
- _(67,951)
3
7346,635
-
-
5,346,635		 4,945,672
(347,173)
_
(90,318)
4,508,181

Income from rent in the year ended 31 March 2024 was £4,508,181 all of which was attributable to general funds.

5 Other trading activities

5
Other tradingtrading		 activities
Unrestricted
General
Designated
Restricted
£
£
£		 Total
2025
3		 Total
2024
£
Cleaningservices ___ 48,120
-
-
48,120
a		 48.120
48,120		 51,677
51,677

Other trading activities in the year ended 31 March 2024, was £51,677 all of which was attributable to general funds.

24

Notes to financial statements for the year ended 31 March 2025.

6 Income from investments

Unrestricted
General
Designated		 Unrestricted
General
Designated		 Restricted Total
2025		 Total
2024
£ £ £ £ £
Bank interestreceived 1,224 _-: - 1,224 2
__1,224 - - 1,224 2

Income from investments in the year ended 31 March 2024 was £2 all of which was attributable to general funds.

7
Expenditureon		 Unrestricted
General
Designated		 Unrestricted
General
Designated		 Restricted Total
2025		 Total
2024
£ £ £ £ £
Raisingfunds
Fundraisingactivities
CharitableActivities:
ContractFunding		 88,744 - - 88,744 93.453
,
SupportServices
HousingManagement		 3,421,396
4,581,695		 112,646
-		 7,965
-		 3,242,007
4,581,695		 3,289,830
3,818,801
——$—_——————————————
7,791,835
112,646
7,965
__7,912,446_7,202,084

Expenditure for the year ended 31 March 2024 was £7,202,084 of which £7,028,935 was attributable to general funds, £165,184 was attributable to designated reserves and £7,965 was attributable to restricted reserves.

Governance Costs included within support costs

2025 2024
£ £
Audit and accountancyfees
Legal andprofessional fees
Annual generalmeetingcosts		 17,340
27,205
289
44,294		 17,340
19,433
1,379
37,612

25

Notes to financial statements for the year ended 31 March 2025. Note 7 is continued from page 24

z
g CONTRACT
>
<)
S		 FUNDINGWITH
SERVICELEVEL
AGREEMENTS		 FUNDRAISING
ACTIVITIES		 TOTAL2025 TOTAL2024
<2
Ik
=)		 —————
EE
=
vA)
ZI
==}		 Sees HOUSINGMANAGEMENT —FUNDRAISING
Costs directly
allocated to
activities £ £ £ £ £ £
Staffcosts Direct 2,510,563 1,165,054 68,183 68,183 3,743,800 3,608,013
Agency staff Direct 192,886 113,296 306,182 255,543
Recruitment Direct 16,963 795 266 266 18,024 13,401
Premises Direct 593 1,816,868 1,817,461 1,497,546
Insurance Direct 12,329 59,171 1,774 1,774 73,274 65,849
Maintenance Direct 2,501 396,827 109 109 399,437 387,944
Furniture&
renewals Direct 270,927 349 349 271,276 204,965
Heatand light Direct 2,042 189,458 0 91,500 104,353
Travel Direct 46,376 2,999 3,269 3,269 52,644 53,775
Printing,
Postage&
Stationery		 Direct 18,413 5,748 37 37 24,198 26,086
Communications Direct 35,265 3,174 101 101 38,540 44,197
Cleaning Direct 22,550 92,593 2,704 2,704 117,847 112,697
Training&
conferences		 Direct 10,852 5,989 551 551 17,392 22,584
Translation&
Interpretation Direct 1,398 1,398 987
Loan interest Direct 25,315 0 25,315 22,535
Service users’
welfare Direct 22,813 $1,786 0 104,599 72,868
Finance lease
interest Direct 0 0 5,257
Finance costre
LGPSPension Direct 1,000 1,000 (17,000)
2,896,544 4,230,000 77,343 77,343 7,203,887 6,481,600

26

Notes to financial statements for the year ended 31 March 2025. Note 7 is continued from page 25

Support costs allocated to activities

Office andfinance staffcosts Pro-rata 162,241 147,931 10,458 10,458 320,630 371,292
Agencystaff Pro-rata 18,672 17,976 36,648 19,595
Books&publications Pro-rata 0 0 0 58
Subscriptions Pro-rata 2,366 2,277 4,643 4,622
Legal& professional Pro-rata 13,862 13,344 27,206 19,433
Operating leaserentals Pro-rata 28,631 27,562 56,193 48,351
Officeequipment Pro-rata 0 0 0 0
Computer costs Pro-rata 56,664 54,549 111,213 87,514
Depreciation Usage 12,915 27,146 713 713 40,774 48,044
Consultancy Pro-rata 34,134 32,860 66,994 73,555
Auditandaccountancy fees Pro-rata 11,831 11,389 23,220 16,800
Bank charges Pro-rata 1,125 1,084 2,209 7,775
Publicity Pro-rata 423 407 830 44
Annual generalmeeting Pro-rata 147 142 289 1,379
Refreshments Pro-rata 775 TAT 1,522 3,519
Other costs Pro-rata 1,677 14,281 230 230 16,188 18,503
345,463 351,695 11,401 —_—:11,401 ___ 708,559 720,484
3.242.007 4,581,695 88,744 88,744 7,912,446 7,202,084

27

Notes to financial statements for the year ended 31 March 2025.

----- Start of picture text -----
|||||| |---|---|---|---|---| |8|Net incoming/(outgoing)|resources for the year|2025|2024| |£|£| |Depreciation|48.739|48.044| |Amortisation|-| |Operating lease charges|56,193|49,096| |Interest on loans|25,315|22,535| |Interest on finance leases|-|2,710| |Interest on hire purchase|-|2,547| |Finance costs on LGPS Pension|1,000|(17,000)| |Loss on disposal of|tangible|fixed assets|4,226|-| |9|Auditor’s remuneration|2025|2024| |£|£| |Audit fee in respect of|the|financial statements|19,350|16,830| |Other fees payable|to|auditor|:| |Tax compliance|services|-|-| |Non audit|services|2,898|3,978| |2,898|3,978| |10|Tax on|net income|2025|2024| ||[Current][ Taxation]|£|£| |UK Corporation|Tax|-|-| |Adjustment to|prior year|eS| |Deferred|taxation|;| |Origination and reversal|of|timing differences|-|-| |Tax on|net income|-|-| |The tax charge tax charge charge|for the year is lower than (2024: the year is lower than (2024: year is lower than (2024: is lower than (2024: lower than (2024: than (2024:|lower than) the standard rate of than) the standard rate of rate of of|corporation tax in the| |UK of of|25% (2024: (2024:|25%).| |The differences are reconciled below:|2025|2024| |£|£| |Net income before tax|528,266|456,428| |Corporation tax at standard rate|132,067|114,107| |Effects ofnet|(income)/expenditure exempt from taxation|(132,067)|(114,107)|[]| |Total tax|charge|-|-|

----- End of picture text -----

The tax charge tax charge charge for the year is lower than (2024: the year is lower than (2024: year is lower than (2024: is lower than (2024: lower than (2024: than (2024: lower than) the standard rate of than) the standard rate of rate of of corporation tax in the UK of of 25% (2024: (2024: 25%).

28

Notes to financial statements for the year ended 31 March 2025.

11 Material transfers between funds There was a £104,705 transfer from general funds to the Dilapidation fund to cover future costs.

12 Staff costs and numbers

2025 2024
£ £
Salariesandwages 4,000,768 3,547,082
Social Security costs 327,969 310,824
Pension contributions :-
Contributionsto defined contributionscheme 94,134 91,163
Operating costs redefinedbenefitscheme 33,000 40,000
4,455,871 3,989,069

The above figures include £7,884 made in respect ofredundancy and termination payments. (2024: £23,930)

2025 2024
No. No.
Employeespaidbetween
£60,001 and£70,000 - I
£70,001 and £80,000 j -
£80,001and£90,000 i 1

No remuneration was paid during the year to any member of the Supervisory Board, and there were expenses of £57 reimbursed to them.

In addition, during the year, M White charged the charitable company £17,500 (2024: £17,150) in respect of consultancy fees.

The average weekly number of employees during the year, analysed by function, was:

Number of employees

Number of employeesof employeesemployees
2025 2024
SupportServices&HousingManagement 121 124
OtherCharitable Services - -
Supportcosts 12 11
133 135

29

Notes to financial statements for the year ended 31 Mareh 2025.

13 =‘Intangiblefixed assets
Website Total
Cost
At31		 March2024 £
12,162		 £
12,162
At31 March2025 12,162 12,162
Amortisation
At31March March2024 12,162 12,162
Chargefortheyear
At31 March2025		 _ -
-
12,162___12,162_
NetBookValue
At 31 March2024 — - -
At31 March2025 - -

The amortization charge for the year is included within the SoFA heading of expenditure on charitable activities.

The intangible fixed assets have been pledged as security for liabilities ofthe charity.

14 Tangible fixed assets

Freehold
Leasehold		 Leasehold Motor Furniture&
Cost/valuation
At 1 April2024
Additions duringyear
Disposalsduringtheyear
Revaluation
At31 March2025		 Property
Property
£
£
870,000
175,000
104,712
-
-
-
(47,212)
5,000
927,500
__180,000		 Improvements
&
10,977
-
-
-
___—«'10,977		 Vehicles
Equipment
Total
£
£
£
14,752
537,397
1,608,126
-
7,603
112,315
-
(84,583)
(84,583)
-
7
-
(42,212)
14,752
460,417_—«1,593,646
Depreciation
At 1 April2024
Chargeforyear
Relatingtodisposals
At31March2025		 -
-
-
-
:
-

-
-		 10,977
:
-
10,977		 3,249
4,823
-
8,072		 436,301
43,916
_ (80,357)
399,860		 450,527
48,739
(80,357)
418.909_
NetBookValue
At 1 April2024		 ___ 870,000175,000 _- 11,503 101,096 1,157,599
At31March2025 ___927,500__
180,000		 - 6,680___—-60,557__ ___—-60,557__ 1,174,737_

The tangible fixed assets have been pledged as security for liabilities of the charity.

The freehold properties and the leasehold property were revalued on 31 March 2025 by an independent valuer, Bramleys LLP, who are RICS registered. The basis of this valuation is fair value using the vacant possession method.

30

Notes to financial statements for the year ended 31 March 2025.

14 Tangible fixed assets, continued from page 29

The historical cost of the properties included at valuation is as follows:-

Freehold
properties
£		 Leasehold
Property
£		 Total
£
Cost
Accumulateddepreciation		 903,763
(25,348)		 194,041
(13,474)		 1,097,804
(38,822)_
878,415 180,567 1,058,982
15
Debtors
2025 2024
Duewithin oneyear: £ £
Netrents inarrears $35,250 482,178
Otherdebtors $7,717 40,917
Prepaidexpenses 140,657 134,749
1,033,624 657,844

The debtor balances of £1,033,624 (2024: £657,844) have been pledged as security for liabilities of the charity.

16
Creditors
2025 2024
Amountsfallingduewithinoneyear:
Bankloans		 £
15,174		 £
16,301
Obligations underfinance leases - -
Hirepurchase creditors:
Trade creditors		 -
202,568		 -
263,566
Othercreditors 346,208 169,158
Social securityandothertaxes 70,898 73,495
Accruals anddeferredincome 242,780 264,523
877,628 787,043

The bank loans are secured by way of fixed and floating charges over the assets of the company.

17 Creditors - Amounts falling due after one year:

17
Creditors- AmountsAmountsfalling duedueafter one year:one year:year:
17
Creditors - AmountsAmounts falling duedue after one year:one year:year:		 2025 2024
£ £
Bankloans 382,054 297,257
Financeloan creditors - -
Hirepurchase creditors -
382,054		 -
297,257

The bank loans are secured by way of fixed and floating charges over the assets of the company.

The bank loans include £320,131 (2024: £250,890) which fall due after five years and are repayable by instalments.

31

Notes to financial statements for the year ended 31 March 2025.

18
Provisionsforliabilities:		 18
Provisionsforliabilities:		 2025 2024
£ £
At 1 April2024
Increaseinprovision		 134,881
104,705		 -
134,881
At31 March2025 239,586 134,881
Analysis ofprovisionsforliabilities
Dilapidations		 a
239,586
134,881
——————E——E————=£=————E—=———————
Thecharityexpects£50,000theprovisiontobeconsumedduringtheyearending31
withtheremainingamountrecalculatedonanannual basis.		 31March March2026,
19
Restricted funds		 Balance
01.04.2024		 Incoming
Funds		 Outgoing
Funds		 Gat
‘aseana
transfers		 Balance
31.03.2025
£ £ £ £ £
@) DewstayRoadDayCentre 155,060 . . . 155,060
(ii) SaharaNationalityFund - - - - -
(iii)SaharaWomenWithout
RecourseFund - - - - -
(iv) SinclairDATFund
(v)LCCRefurbishmentFund		 .
666		 -
-		 -
-		 -
-		 -
666
(vi)TempestRoadDevelopment
Fund
(vii)RighttoBuyFund
(viii}Computer/ITFund		 5,092
177,621
15,929		 6,772
-		 -
(7,965)		 -
-		 5,092
184,393
7,964
DS
354,368		 see
6,772
(7,965)
-
353,175
Balance
01.04.2023		 Incoming
Funds		 Outgoing
Funds		 ad
transfers		 Balance
31.03.2024
£ £ £ £ £
adaRoadDayCentre 155,060 . . 155,060
(ii) SaharaNationalityFund - - - - -
(iii) SaharaWomen Without
RecourseFund - - - . .
(iv) SinclairDATFund
(v)LCCRefurbishmentFund		 .
666		 .
-		 -
-		 -
-		 .
666
(vi)TempestRoadDevelopment
Fund
(vii)RighttoBuyFund
(viii)Computer/ITFund		 5,092
127,838
23,894		 49,783
-		 -
(7,965)		 -
-		 5,092
177,621
15,929
"312,550 49,783—(7,965)—=384,368.

The charity expects £50,000 the provision to be consumed during the year ending 31 March 2026, with the remaining amount recalculated on an annual basis.

32

Notes to financial statements for the year ended 31 March 2025.

20
Unrestricted FundsFunds
Balance Incoming Outgoing Gainsand Transfers Balance
01.04.2024 Funds Funds losses 31.03.2025
£ £ £ £ £ £
(a) GeneralMaintenance Fund - - - - - -
(b) FurnitureRenewalsFund
(c} RedundancyFund
(da) WelfareFund
(e) SchemeFunding		 -
1,180
3,072
107,196		 -
-
-
26,789		 -
-
-
(7,941)		 -
-
-
-		 -
-
-
“		 -
1,180
3,072
126,044
(f) Registered Provider
ApplicationFund.
(g)DilapidationFund		 -
-		 -
-		 .
(104,705)		 .
-		 .
104,705		 .
-
GeneralFunds 111,448
496,661		 26,789
8,416,363		 (112,646)
(7,758,835)		 -
(42,212)		 104,705
(104,705)		 130,296
1,007,272
608,109 8,443,152 (7,871,481) (42,212) - 1,137,568
Pension reserve -
608,109		 (33,000)
_8,443,152__(7,904,481)		 33,000
(9,212)		 -
-		 -
1,137,568
Balance
01.04.2023		 Incoming
Funds		 Outgoing
Funds		 Gainsand
losses		 Transfers Balance
31.03.2024
£ £ £ £ £ £
(a) GeneralMaintenanceFund : - - - - -
(b)FurnitureRenewalsFund - - - - - -
(c) RedundancyFund
(d) WelfareFund
(e) SchemeFunding		 1,180
3,072
52,067		 -
-
63,862		 -
-
(8,733)		 -
-
.		 -
-
-		 1,180
3,072
107,196
(f)RegisteredProvider
ApplicationFund
{g)DilapidationFund		 17,822
-		 -
-		 (21,570)
(134,881)		 ° 3,748
134,881		 -
-
GeneralFunds 74,141
119,358
193,499		 63,862
(165,184)
7,498,946 _(7,005,935)
7,562,808
(7,171,119)		 -
22,921
22,921		 138,629
(138,629)
-		 111,448
496,661
608,109
Pensionreserve - (23,000) 23,000 - -
193,499 7,562,808 (7,194,119) 45,921 - 608,109

33

Notes to financial statements for the year ended 31 March 2025.

Pension Reserve

The WYPF scheme is presently reporting a surplus, however, as recognition of the asset is governed by FRS102 and due to the uncertainty of gaining any economic benefit the Supervisory Board have concluded to report neither an asset nor a liability at the year-end date which more accurately reflects the position.

21 Analysis of net assets between funds excluding pension liability

----- Start of picture text -----
|||||| |---|---|---|---|---| |General|Restricted|Total|Total| |Funds|Funds|2025|2024| |£|£|£|£| |Fixed assets|994,737|180,000|1,174,737|1,157,599| |Current assets|1,642,099|173,175|1,815,274|1,024,059| |Creditors,|falling due within one year|(877,628)|(877,628)|(787,043)| |Creditors,|falling due more than one year|(382,054)|(382,054)|(297,257)| |Provisions|for liabilities|(239,586)|(239,586)|_(134,881)| |Net Assets|1,137,568|353,175|__1,490,743|962,477|

----- End of picture text -----

22 Charitable status

The company is a registered charity no 515300 and is exempt from income tax and corporation tax. The company is a limited company by guarantee and has no share capital. In the event of the winding up of the company, the liability of members is limited to a maximum of £1 each.

23 Commitments

At 31 March 2025 the company had future minimum operating leases payments as follows:

----- Start of picture text -----
2025 2024
£ £
Within one year 74,334 22,460
Between one and five years 17,848 -
Over five years 686
___- 92,868 _ 22,460
----- End of picture text -----

34

Notes to financial statements for the year ended 31 March 2025.

24 Related party transaction

The company has taken advantage under FRS 102 not to disclose details of its transactions of its subsidiary.

During the year, M White charged the charitable company £17,500 (2024: £17,150) in respect of consultancy services.

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Key management personnel|compensation|161.430|154.736| |25|Reconciliation|of net|expenditure|to net cash|flow from|operating activities|

----- End of picture text -----

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Net income/(expenditure)|for the year|537,478|410,362| |Pension scheme|adjustment|33,000|23,000| |Interest paid|25,313|27,790| |Interest received|(1,224)|-| |Loss on|disposals|4,386|-| |Depreciation and amortisation|charges and provisions|153,444|182,925| |(Increase)/decrease|in debtors|(376,110)|(104,858)| |(Decrease)/increase|in|creditors|91,882|_(97,125)| |468,171|442,094|

----- End of picture text -----

26 Analysis of changes in net debt

----- Start of picture text -----
|||||| |---|---|---|---|---| |01.04.2024|Net cash|Non cash| |A|movements|31.03.2025| |£|£|£|£| |Cash|366,215|415,435|-|781,650| |Bank loans|(313,558)|(83,670)|-|(397,228)| |52,657|331,765|~|384,427|

----- End of picture text -----

27 Pensions

As explained at note 2.13 the company operates both a defined benefit pension scheme and a defined contribution pension scheme.

The company is a member of the West Yorkshire Pension Fund (the Fund) which is part of the Local Government Pension Scheme (LGPS). The funded nature of the LPGS requires participating employers and its employees to pay contributions into the Fund, calculated at a level intended to balance the pension liabilities with investment assets. Information on the framework for calculating contributions to be paid is set out in LPGS Regulations 2013 and the Funds Funding Strategy Statement. The last actuarial valuation was at 31 March 2025.

At the year-end date, under the FRS 102 basis of calculation, the Fund Actuary has calculated the FRS102 valuation of the pension fund position to be a surplus of circa £838,000.

35

Notes to financial statements for the year ended 31 March 2025.

27 Pensions, continued from page 34

The recognition of this asset is governed by FRS102 by the amount of economic benefit the Supervisory Board believe will be received by the charity either through a direct refund or through a reduction in future contributions.

The Local Government Pension Scheme Regulations do not permit the re-payment of contributions or surplus assets to employers whilst they are an ongoing employer in the fund as was the position at the year-end date. However, the Regulations do permit a payment of an “exit credit “to an employer who exits the Fund. Therefore, the Supervisory Board have the option to consider the possibility of exiting the fund in order to obtain this economic benefit for the charity whilst market conditions are favourable.

The basis on which an exit position is calculated is very different from the basis used for FRS102 calculations and could possibly bea liability, once calculated by the actuary.

Under FRS102, for recognition of the asset, we also need to consider the second basis for recognition being whether economic benefit could be gained from a reduction in future contributions. Future contributions by the charity are expected to be nil, therefore no benefit could be gained.

Therefore, as the asset recognition criteria cannot be supported with certainty, the Supervisory Board do not believe it is appropriate to recognise the FRS 102 calculated asset, as realisation of such an asset is uncertain.

The Supervisory Board have therefore conchided, due to the uncertainty detailed above, to report neither an asset nora liability at the year-end date which more accurately reflects the position.

The Fund Administering Authority, City of Bradford Metropolitan Council, is responsible for the governance ofthe Fund.

----- Start of picture text -----
||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The key|assumptions|used|by|the|actuary|in|updating|the|latest|valuation|of the|Fund|for FRS102| |purposes were:-|2025|2024| |%|%| |Discount rate|for liabilities|5.80|4.80| |Pension increases|2.50|2.60| |Pension accounts revaluation rate|2.50|2.60| |Salaries increases|3.75|3.85| |CPI Inflation|2.30|2.60|

----- End of picture text -----

Mortality assumption

The mortality assumptions are based on the actual mortality experience of members within the Fund based on analysis carried out as part of the 2025 valuation and allow for expected future mortality improvements. Sample life expectancies at age 65 resulting from these mortality assumptions are shown below.

----- Start of picture text -----
|||||| |---|---|---|---|---| |Males|2025|2024| |Member aged 65|at accounting|date|20.9|21.0| |Member aged 45|at accounting|date|21.8|22.3| |Females|

----- End of picture text -----

36

Notes to financial statements for the year ended 31 March 2025.

27 Pensions, continued from page 35 Member aged 65 at accounting date 24.1 24.2 Member aged 45 at accounting date 24.8 25.2

The approximate split of the assets of the Fund is as set out below:-

The approximateapproximate split of the assets ofof the assets ofthe assets ofassets ofofthe Fund is as set out below:-Fund is as set out below:-is as set out below:-as set out below:-set out below:-out below:- the Fund is as set out below:-Fund is as set out below:-is as set out below:-as set out below:-set out below:-out below:-
2025 2024
% %
Equities
Property
Governmentbonds		 79,3
2.8
9.0		 79.4
2.8
8.5
Corporatebonds
Cash
Other		 4.0
2.6
2.3		 4.2
1.8
3.3
100.0 100.0
The actual returnson assets are set outbelow:-
2025 2024
£ £
Interestincome onassets 119,000 111,000
Gain/(loss) onassets (12,000) 84,000
Actual returnon assets 107,000 195,000
Thechanges inthefairvaluesoftheassetswere:- 2025 2024
£ £
Openingfairvalueofassets
Interestincomeonassets		 2,521,000
119,000		 2,412,000
111,000
Re-measurementgains/(losses)onassets
Members contributions		 (12,000)
9,000		 84,000
11,000
Netbenefitspaidout (74,000) (97,000)
Closingfairvalueofassets 2,563,000 2,521,000
Thechangesinthepresentvaluesofthedefinedbenefitobligations:- obligations:- 2025 2024
2 £
Openingpresentvalueofliabilities
Current service costs		 2,009,000
32,000		 2,032,000
40,000
Interestexpenseondefined benefit obligations
Memberscontributions		 95,000
9,000		 94,000
11,000
Actuarial gainsonliabilities
Netbenefitspaid out		 (346,000)
(74,000)		 (71,000)
(97,000)
Closingpresentvalueofliabilities 1,725,000 2,009,000
SEE re

37

Notes to financial statements for the year ended 31 March 2025.

  1. ——«~Pensions, continued from page 36

The reconciliation of the funded status of the Fund to the balance sheet is as follows:-

----- Start of picture text -----
||||| |---|---|---|---| |2025|2024| |£|£| |Fair value of|assets|2,563,000|2,521,000| |Present value of|funded defined benefit obligations|(1,725,000)|(2,009,000)| |Unrecognised|asset|(838,000)|(512,000)| |Net pension asset/(liability)|-|-|

----- End of picture text -----

----- Start of picture text -----
||||| |---|---|---|---| |The split of|the liabilities at the last valuation between the various categories of|members|is as| |follows:-| |Active members|50%| |Deferred|Pensioners|22%| |Pensioners|28%|

----- End of picture text -----

The pension costs recognised in the statement of financial activities are made up as follows:-

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Operating Costs|:-| |Current service cost|32,000|40,000| |Finance costs|:-| |Interest costs on pension|liabilities|(24,000)|(17,000)| |Interest on unrecognised|asset|25,000|-| |33,000|23,000| |Actuarial gains|(210,000)|(155,000)| |Total pension costs recognised|(177,000)|(132,000)| |Sensitivity Analysis|:-|Base figure|+0.1%|-0.1%| |£|£|£| |Discount Rate| |Present value of|total obligation|1,725,000|1,753,000|——-1,697,000| |Projected service cost|24,000|23,000|*|25,000| |Rate of|increase|in|salaries| |Present value of|total obligation|1,725,000|1,730,000|1,720,000| |Projected service cost|24,000|24,000|24,000| |Rate of increase|in pensions| |Present value of|total obligation|1,725,000|1,747,000|1,703,000| |Projected|service cost|24,000|25,000|23,000| |Post retirement mortality assumption|-1|year|+1|year| |Present value of|total obligation|1,725,000|1,763,000|1,687,000| |Projected|service cost|24,000|25,000|23,000|

----- End of picture text -----