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2024-03-31-accounts

Charity Registration No. 802682

Company Registration No. 02438015 (England and Wales)

THE OUTLOOK FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

One Bell Lane Lewes East Sussex BN7 1JU

THE OUTLOOK FOUNDATION

CONTENTS

Page
Company information 1
Trustees report 2 - 9
Statement of Trustees responsibilities 10
Independent auditor's report 11 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 29

THE OUTLOOK FOUNDATION

COMPANY INFORMATION

Trustees Mr S Minall Mr A D Pol Mr M O'Mahoney (Appointed 22 June 2024) Ms J Tapsell (Appointed 27 May 2024) Mr S Bell Mr R Miles Dr. E Scott-Gliba Secretary Mr E Trump Charity number 802682 Company number 02438015 Registered office 74 Redhill Drive Brighton East Sussex BN1 5FL Auditor TC Group One Bell Lane Lewes East Sussex BN7 1JU

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)" (effective 1 January 2019).

Objectives and activities

The Charity's aim (and its mission statement) is to empower people with learning disabilities by providing safe comfortable homes in the community. This includes delivering person centred support, educational development, life skills training and promoting wellbeing, which will enable individuals to achieve their full potential.

The Charity's aim is to 'make a difference' to the lives of the client groups, the public will benefit by the policies and development of the Charity and the bespoke curriculum put in place for each individual. The overall benefit will be identifiable by the integration of the status groups concerned fulfilling life through the training provided by the Charity as well as making the individuals as independent as they are able to be and to interact within the community.

The charity has a training programme for volunteers. The Charity provides training for organisations where our residents/tenants have voluntary work placements. We advertise for volunteers as a constant on-going practice. The charity also has a rigorous staff training program with regular training in all areas of compliance and specific to the residents needs. The charity recently was chosen by Brighton NHS Clinical Psychology Dept to have 2 Postgraduates use Outlook House as part of their doctorate, steered by Elizabeth Scott- Gilba, A Senior Clinical Psychologist and one of our Trustees.

Strategies for achieving aims and objectives

We aim to achieve the mission statement above by continuing development and maintenance of essential life skills, ranging from personal hygiene to room cleaning, road crossing and bus travel. To working in the community whilst living semi independently.

All residents and tenants have individual life skills plans that they devise in collaboration with support staff. The person-centered approach to life skills training results in successful completion leading to increased independence, appropriate to the individual.

Public benefit

The activities currently carried out for public benefit by the charity are always ensured by the trustees to be in line with our mission statement, with the overall aim being that the people we work aiongside are fully integrated as part of their local community.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Key financial performance indicators

To maintain full occupancy and quality of service.

The service is reviewed in four different ways, firstly by purchasers the residents personal social worker from their County/Region they come from, secondly by regular internal/senior staff systems of monitoring individual needs, one to one meetings where we ensure that the aims and objectives of the charity are being met, thirdly inspections carried out by the Care Quality Commission (CQC) and lastly by an annual Quality Assurance exercise in which questionnaires are sent out to residents and tenants, staff, parents, social workers and other external bodies. The charity is able to measure it's performance by an individual achieving life skills and further independence.

Review of activities

The Charity provides accommodation across three homes - Outlook House, Jean Marshall House and Gaynor Forster House.

Plus, outsourcing of houses & flats where landlords are guaranteed fees, these provide the independence needed with the correct & safety for staff to live in or monitor the residents.

Outlook House

Set in a residential area of Brighton, Withdean, Outlook House and grounds are situated in the heart of. the local community, with access to local shops, buses and primary healthcare. The house has the feel of a spacious· family home, with 12 en suite rooms and well-equipped shared spaces. There is a large garden, with a greenhouse and vegetable patches, where green fingered residents can even try their hand at growing some grub.

Outlook House residents have use of all of the facilities at the house and are encouraged to actively participate in making Outlook House their own comfortable and happy home.

Outlook House is a 'residential care' setting.

We start to improve to improve on this property in November 2024 to build 4 independent apartments to add to our program of shared care /supportive living. We have raised £60k towards the £180k costs, we expect to fund this with savings internally, cash reserves and further donations. The project is due completion by March 2025.

Jean Marshall-House

Situated in a residential area of Hove, close to Hove station, Hove Park, the seafront, shops and primary healthcare. Jean Marshall House has 8 en suite rooms alongside. several large and comfortable shared spaces; a lounge, conservatory, dining room and large patio and courtyard.

Support Staff can be accessed by tenants both day and night at Jean Marshall House.

Jean Marshall House is a 'supported living' setting.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Gaynor Forster House

Situated in a residential area of Brighton, very ,close to Preston Park, local shops and primary healthcare services. It is very well positioned for public transport with great bus routes and both London Road and Preston Park train stations, nearby.

The overall house has been converted into 5 comfortable, self contained flats, with an additional shared utility room. The tenants benefit from a lovely, large courtyard garden with a built-in barbeque. Support staff can be accessed by tenants during the day at Gaynor Forster House.

Gaynor Forster House is a 'supported living' setting.The Outlook Foundation looks back on a challenging year that has been tough for the entire Care Sector with added cost increases in labour, shortages of staff and the everincreasing cost to run the 3 houses, plus the properties in the communities. We need and continue to increase fees where we can, but have this year taken on the position of hiring a dedicated Marketing Manager to raise external funds through donations, grants and raising our profile within Brighton & Hove. Already we have secure monies towards the new build. Contribution to painting & necessary upkeep from B&Q to the tune of £10k, plus several smaller grants. It is imperative that the Trustees seek other income other than relying on council funding going forward.

The aim being to drive the Charity forward as a business but also to recognise the importance of maintaining our core values. Lesley moved mountains and worked hard to get us into a far better accounting position. We also strengthened our Trustees by adding Simon Bell, who has experiences in staff incentives, contracts and running businesses, Mike Omahoney Expert in micro finance and cash flow management. Janet Tapsell, Senior in other related Charities and Expertise in HR and Charity Finances. Equally pleased to add Eric Trump as Company Secretary. Angelo De Pol continues as Trustee looking after Strategic Finance and Risk Management with Richrd Miles in charge of Marketing & Donations and Strategies on Utility Management and I was extremely honored to be voted as permanent Chair from Vice Chair. Elizabet Scott-Gilba works with the CEO & Staff on welfare issues & specific issues around mental health. Simon Bell & Eric Trump also steer the Parental Committee, to allow Parents & Residents to voice their views/idea to the Trustees.

Trustees meet 4 times per year, via Zoom and one physical meeting. Plus, regular individual calls/emails & discussions throughout the year. The CEO is in regular contact with all Trustees. A One to One with The Chair is organised with all Senior Managers once a year on a P&C basis. Chair & CEO discuss top line issues at least once every 10 days.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Financial review

As we come to the end of 2024 and enter the last quarter of our financial year The Outlook Foundation looks forward to hopefully, a less challenging year.

2024 brought positive movement in getting more of our residents into the community through independent living, allowing us to fill our houses and reorganise with new faces. This higher level of occupancy protects us in terms of fees and income but we still had to take the tough decision and raise fees to cover our rising overheads and maintain our charitable status. We are first and foremost a Residential Care Facility and have to operate as a business but also respect the residents and staff who are our lifeblood.

Ria and her team have done a magnificent job this year with Council budgets under severe pressure, to increase fees in line with rising costs and improve our top line income. This comes with finding extra residents to fill those empty bedrooms.

I need to state that we are financially solvent and The Outlook Foundation is in a good position to fund the Charity and any mortgages we may need as part of the proposed estate development and management programme.

The initiative, hard work of the operational team and the knowledge and the skill of the Trustees are continuing to improve the quality of what we can deliver.

The charity’s total income for the year was £1,415,759 (2023: £1,165,879) and had net outgoing resources for the year of £1,389,019 (2023: £1,236,994). At 31 March 2024, the Foundation had unrestricted funds of £1,937,352 (2023: £1,910,612) and held free reserves of £205,199 (2023: £167,008). The Outlook Foundation aims to hold three months expenditure within free reserves. Three months expenditure, excluding depreciation, totals £329,998 suggesting that free reserves are lower than the Trustees would like the charity to hold. The Trustees are aware of this and are working with management to reduce expenditure and increase the charity's Income to allow for reserves to increase. However we are sitting on three properties with a book value which exceeds £1.7m, market value for the area could easily exceed £2m: thus giving us access to loans & assets to borrow against if needed.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

Introduction

This reserve policy outlines the financial management approach of The Outlook Foundation (“The Charity”). The Charity prioritises maintaining a strong financial position to manage unforeseen expenses or revenue changes and follows the guidance provided by the Charity Commission ("Charity reserves: building resilience CC19").

Risk Profile

The Charity’s risk profile is considered low primarily due to the following factors:

  1. Stable Funding: The Charity relies on stable sources of local council funding via resident/tenant fees and tenant housing benefits.

  2. Positive Net Profit Margin: Although the Charity is a non-profit organisation, it typically operates with a positive Net Profit Margin, allowing for further reserve accumulation.

  3. Debt-Free: The Charity is mortgage free and there are no other debts, nor is there any borrowing foreseen in the medium-term or long-term financial plans.

  4. Significant Assets: The Charity has significant tangible fixed assets (predominantly property with market value of at least £1.8m), which may be utilised for financing if the need ever arose.

  5. New Funding Source: A previously underutilised source of funding (grants and donations) has been established by a new dedicated marketing manager role. The first 18 months have provided grants in excess of £80k.

  6. Low Overheads and Staffing Risks: The Charity has no Head Office rent obligations and the Staff risks are considered low.

Purpose of the reserves

  1. Sector-Related Costs: The Charity has accumulated reserves to handle unexpected increases in sectorrelated costs, such as utilities, minimum wages, and the demands of providing services to special needs adults. These reserves ensure the organisation can adapt to changes in the operating environment and maintain the quality of care for residents if issues arise in either receiving payments of fees and housing benefit or if there are any delays in obtaining agreement for fee increases to match rising expenses.

  2. Property Maintenance and Improvements: Reserves support property improvements and general maintenance. This includes provisions for enhancing the main property, adding rooms to accommodate changes in shared care, as well as covering ongoing maintenance requirements. Adequate reserves are necessary to sustain the physical infrastructure of the care home to meet the standards required by the CQC.

  3. Regulatory Requirements: The Charity complies with the Charity Commission guidelines (CC19) on reserve policies, ensuring financial resilience.

  4. 6 -

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserve Level and Monitoring

The current reserves reflect the Charity's commitment to financial preparedness and addressing any short-term needs. Trustees monitor and review reserve levels regularly to align with the operating environment and regulatory requirements.

Target Reserve Level

The target reserve level is set at 25% of annual operating expenses , covering approximately three months of expenses . The Trustees acknowledge that reserves may temporarily fall below this target in circumstances where designated funds are set aside to finance significant projects (e.g. building improvements). The reserves level will be monitored throughout the year and reviewed quarterly by the Trustees.

Conclusion

The Charity’s financial stability is essential for its long-term sustainability and effective operations. Therefore, the Trustees have set a prudent target reserve level, despite the low-risk nature of our operating model, which differs from the largely donation-reliant charitable sector.

The reserve policy reflects the Charity’s commitment to financial stability and readiness for potential sectorrelated challenges, including property improvements, maintenance needs, and local authority budget pressures.

The current reserve level demonstrates the Charity’s proactive approach to building funds. The Trustees will continue to monitor and review reserves to ensure they meet evolving needs and comply with Charity Commission guidance. Maintaining an appropriate level of reserves safeguards the Charity’s ability to provide high-quality care for special needs adults and ensures long-term sustainability.

Major risks

The Trustees. have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, arid are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Financial risk management objectives and policies

We endeavour to maintain full capacity across the 3 sites and the flat schemes. All payments of fees are monitored and addressed where necessary. The charity also has a Business Continuity Plan in place, including insurance to cover any major disruption to that continuity.

Structure, governance and management

The company is registered as a charitable company limited by guarantee and was set up by a Trust deed.

The company is constituted under a Trust deed and is a registered charity number 802682.

The principal object of the company is the promotion of care and education of adults with learning difficulties.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S Minall Mr A D Pol Mr M O'Mahoney (Appointed 22 June 2024) Ms J Tapsell (Appointed 27 May 2024) Mr S Bell Mr R Miles Dr. E Scott-Gliba W C Catchpole (Resigned 27 September 2023)

Recruitment and appointment of trustees

The management of the company is the responsibility of the Trustees who are elected and co opted under the terms of the Trust deed. The recruitment of new trustees is solely by introduction by existing members of the trustee committee and they are individuals who have varying experiences of dealing with different business operations that complement the charities mission statement. All new trustees are made aware of their roles and responsibilities in line with current legislation and the charity's policies and procedures, and new trustees are made familiar with The Outlook Foundation's three sites.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The Trustees meet 4-5 times a year. Day to day the Charity is run by 3 Directors of Operations, who also comprise the Key Management Personnel of the Charity. The remuneration of the Key Management Personnel is set by Ria Mew and other non- paid trustees.

Information on fundraising practices

The Outlook Foundation will need to look at fundraising strategies, this is due to an increase in liabilities, staffing costs and the lack of government funds. The charity does not work with professional fundraisers and during the last financial year did not have any agreements with commercial participators. During the last financial year there were no complaints received by the charity about any fundraising the charity carried out. The charity does not share the data with anyone and limits their fundraising approaches to ensure that they are not unreasonable and that there is no undue pressure to give. Compliance to GDPR is paramount.

Auditor

In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Trustee Meeting held in June 2024 and approved.

THE OUTLOOK FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the Board of Trustees.

.............................. Mr S Minall

Trustee

Date: .............................................

THE OUTLOOK FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also the directors of The Outlook Foundation for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE OUTLOOK FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE OUTLOOK FOUNDATION

Opinion

We have audited the financial statements of The Outlook Foundation (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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) (ISAs (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 charity 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.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

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 Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE OUTLOOK FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE OUTLOOK FOUNDATION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the charity for the purpose of company 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 Trustees 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 Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 error, 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

THE OUTLOOK FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE OUTLOOK FOUNDATION

Our approach was as follows:

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE OUTLOOK FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE OUTLOOK FOUNDATION

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

TC Group

Statutory Auditor

Office: Lewes

Date:.........................

TC Group is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006

THE OUTLOOK FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 14,379 12,750
Charitable activities 4 1,400,318 1,152,399
Investments 5 1,062 730
Total income 1,415,759 1,165,879
Expenditure on:
Charitable activities 6 1,383,350 1,236,994
Other expenditure 11 5,669 -
Total expenditure 1,389,019 1,236,994
Net income/(expenditure) and movement in funds 26,740 (71,115)
Reconciliation of funds:
Fund balances at 1 April 2023 1,910,612 1,981,727
Fund balances at 31 March 2024 1,937,352 1,910,612

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE OUTLOOK FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
18		 2024
£
£
1,732,153
86,879
345,510
432,389
(227,190)
205,199
1,937,352
1,937,352
1,937,352		 2023
£
£
1,743,604
77,909
207,121
285,030
(118,022)
167,008
1,910,612
1,910,612
1,910,612		 2023
£
£
1,743,604
77,909
207,121
285,030
(118,022)
167,008
1,910,612
1,910,612
1,910,612
1,910,612
1,910,612
1,910,612

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

..............................

Mr S Minall

Trustee

Company registration number 02438015 (England and Wales)

THE OUTLOOK FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
22
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(57,572)
1,062		 £
194,899
(56,510)
-
138,389
207,121
345,510		 2023
£
(1,928)
730		 £
35,029
(1,198)
-
33,831
173,290
207,121

FOR THE YEAR ENDED 31 MARCH 2024

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity information

The Outlook Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 74 Redhill Drive, Brighton, East Sussex, BN1 5FL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line
Fixtures and fittings 25% straight line
Computers 33% straight line
Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FOR THE YEAR ENDED 31 MARCH 2024

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

FOR THE YEAR ENDED 31 MARCH 2024

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Depreciation and the useful economic life of properties - this requires an estimation of the useful economic lives of the charity's properties.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 14,379 12,750
Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Tenant fees 1,400,318 1,152,399

4 Income from charitable activities

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,062 730

6 Expenditure on charitable activities

Promotion Promotion
of care and of care and
education education
2024 2023
£ £
Direct costs
Staff costs 1,001,720 860,909
Depreciation and impairment 63,354 56,397
House running costs 137,045 96,871
Repairs and maintenance 39,443 54,638
Supplies and other residential support 33,698 36,043
Administration costs 62,236 101,838
Donations made - 20
Holiday costs 2,744 6,718
1,340,240 1,213,434
Share of support and governance costs (see note 7)
Governance 43,110 23,560
1,383,350 1,236,994
Analysis by fund
Unrestricted funds 1,383,350 1,236,994

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7
Support costs allocated to activities
Governance costs
Analysed between:
Promotion of care and education
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other assurance services
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets		 2024
£
43,110
43,110
2024
£
15,300
-
63,354
5,669		 2023
£
23,560
23,560
2023
£
13,140
1,584
56,397
-

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

Admin & Care staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
35
2024
£
902,313
81,508
17,899
1,001,720		 2023
Number
37
2023
£
782,646
63,096
15,167
860,909

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

10 Employees (Continued)
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024 2023
£ £
Aggregate compensation 124,262 125,931
11 Other expenditure
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net loss on disposal of tangible fixed assets 5,669 -

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

13
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 April 2023
2,690,178
Additions
-
Disposals
-
At 31 March 2024
2,690,178
Depreciation and impairment
At 1 April 2023
955,348
Depreciation charged in the year
52,655
Eliminated in respect of disposals
-
At 31 March 2024
1,008,003
Carrying amount
At 31 March 2024
1,682,175
At 31 March 2023
1,734,830
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Fixtures and
fittings
£
41,859
57,224
(41,859)
57,224
39,042
9,855
(39,042)
9,855
47,369
4,549		 Computers Motor vehicles
£
£
3,687
22,130
348
-
(3,687)
(1,670)
348
20,460
1,376
18,484
67
777
(1,376)
(1,129)
67
18,132
281
2,328
579
3,646
2024
£
75,701
-
11,178
86,879		 Computers Motor vehicles
£
£
3,687
22,130
348
-
(3,687)
(1,670)
348
20,460
1,376
18,484
67
777
(1,376)
(1,129)
67
18,132
281
2,328
579
3,646
2024
£
75,701
-
11,178
86,879		 Total
£
2,757,854
57,572
(47,216)
2,768,210
1,014,250
63,354
(41,547)
1,036,057
1,732,153
1,743,604
2023
£
62,717
4,216
10,976
77,909
67
281
579

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
16
Trade creditors
Other creditors
Accruals
16
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
The deferred income relates to residents fees invoiced in advance.
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
84,877
21,563
77,562
12,962
30,226
227,190
2024
£
21,563
2024
£
21,563
13,985
(13,985)
21,563
21,563
2024
£
17,899		 2023
£
24,074
13,985
31,910
23,225
24,828
118,022
2023
£
13,985
2023
£
13,985
70,288
(70,288)
13,985
13,985
2023
£
15,167

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

17 Retirement benefit schemes

(Continued)

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 April 2023
£
1,910,612
April 2022
£
1,981,727		 Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
1,415,759
(1,389,019)
1,937,352
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
1,165,879
(1,236,994)
1,910,612

19 Analysis of net assets between funds

Unrestricted
funds
2024
£
At 31 March 2024:
Tangible assets 1,732,153
Current assets/(liabilities) 205,199
1,937,352

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

19 Analysis of net assets between funds (Continued)
Unrestricted
funds
2023
£
At 31 March 2023:
Tangible assets 1,743,604
Current assets/(liabilities) 167,008
1,910,612

20 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
45,830
26,677
72,507		 2023
£
4,276
10,310
14,586

21 Related party transactions

During the year, there were transactions with a related party. Family members of key management personal, S Wilmhurst, was employed by the charity during the year. They received £29,447 (2023 - £30,271).

THE OUTLOOK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Increase/(decrease) in deferred income
Cash generated from operations		 2024
£
26,740
(1,062)
5,669
63,354
(8,970)
101,590
7,578
194,899		 2023
£
(71,115)
(730)
-
56,397
111,939
(5,159)
(56,303)
35,029

23 Analysis of changes in net funds

The charity had no material debt during the year.