STEP STEP ng Poopla. Ha￿1 Tknes.8rlght Fulurg DIRECTORS. REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 SL*p By Step Partnership Umlted l ReglBtore¢J orn￿: 36 Crtmea Rood. Ald¢r5ho¢ Hampshirn GVII IUD I Cornpany No. 24318251 Charfty P&). 9win8 CONTENTS Page Legal and admlnistratlve Information Dlrectors, report Audltors. report 13 statement of flnanclal activltle$ 17 Balance sheet 18 Statement of cash flows 19 Noteg to the financial statements 20 s￿ By Stsp Pattrershlp UmlteA l Regtstered Offi￿. 36 Crimea Road, hJdw5hDL HaMpth1￿ GUII IUO l Q>mpany No. 24318251 Charity Nty 9LW)308 LEGAL AND ADMINISTFIATIVE INFORMATION For the year ended 31 March 2024 Directors Mr K Gathergood, Chairman Mr S Mylvaganam, Treasurer Mr A Mltchell, Deputy Chairman Mr J Devlin Slr J Portal Mrs C Skerry Mr J Mowat Mrs L Barnes Mr S Brearley Mrs C Gallagher Company Reglstration Number 2431825 Charity Registration Number 900308 Address & Registered Office 36 Crimea Road, Aldershot, Hampshlre, GUII IUD Company Secretary Mrs L Barnes Chief Executlve Mrs D Moreton Head of Fundraising Mrs A Chlu Maternlty Leave Jan 2024 expected to be returnlng 13th Jan 2025 Nlc Goom Maternlty Cover Head of HR Mrs R Palmer Head of Finance Mrs A Thurlow Head of Fosterlng & Supported Lodgings Mrs K Headen Head of Wellbeing & Foyers Miss M Partridge Auditors Sayer Vlncent LLP, 110 Golden Lane, London, ECIY OTG Bankers Lloyds Bank Plc, 25 Gresham Street, London, EC2V 7HN Solicitors Moore Barlow LLP, Concord House, 165 Church St East, Woklng GU21 6HJ Step By &ep Pathershlp Umlted l RegiSte￿d Office: 36 Cdmea Atdershot. Hampthlre GUII IUD I Company No. 2431825 1 Charity Ik*. 9LN)308 DIRECTORS, REPORT For the year ended 31 March 2024 The Dlrectors of the Company for the purposes of the Companies Act, who are also Trustees of the Charlty for the purposes of the Charities Act, submit thelr annual report and the financial statements for Step by Step Partnershlp Llmited (the Charity) for the year ended 31 March 2024.The Directors confirm that the annual report and financial statements of the Charity comply wlth current statutory requlrements, the requirements of the Charity's governing documents and the provisions of the Statement of Recommended Practlce (SORP) "Accounting and Reporting by Charltles" OBJECTIVES AND ACTIVITIES Objectives As stated In the Memorandum of Associatlon, the Charity's objective Is to relieve the need of the young homeless, unemployed and other people by reason of thelr conditlon of hardshlp Dr dlstress, by the provision of supported houslngi educatlon, trainlng and support. Mission The mlssion of the Charlty Is empowerlng young people and preventing homelessness. This Is achleved by provlding accommodation and support services. These offer a number of dlfferent programmes all deslgned to progress people towards independence, At the present tlme young people are aged between 11 and 27 years and malnly fall into the 16-21 age group. By providlng a range of services, Includlng accommodatlon and early Interventlon and prevention seNlces, our servlces are tallored to the needs of the young people accesslng them. We work wlth young people to overcome thelr barrlers and achieve thelr asplrations. Our services Include Foyer accommodation, supported lodglngs accommodation, counselllng servlces, advlce and guldance services. Public Benefit The Trustees confirm that they have complied wlth the guldance of the Charltles Act 2011 to have due regard to the publlc benefit guidance In determlnlng the actlvltles undertaken by the Charlty. The Charlty Commlsslon, in Its"Charltles and Public Beneflt" Guldance, states that there are two key prlnclples to be met in order to show that an organlsatlon's alms are for the publlc beneflt: firstly, there must be an identlflable benefit and, secondly, that the benefit must be to the publlc or a section of the publlc, The Trustees are satisfled that both these key prlnciples are met by the operatlon and achievements of the Charity whlch during the year under revlew has worked directly with 1586 young people and famlly members and has educated a further 3260 young people vla school and community talks, a total beneficiary number of 4846. Several of our key achlevements durlng 2023124 are detalled under'Achlevements and Performance,. In the year to 31 March 2024, 55.20/0 of young people supported were male, 42010 female and 1.3 % identlfled as non-blnary (1.50/0 preferred not to say or dld not specify thelr gender). 740/0 of young people were teenagers. In our Foyer accommodation there were 47 placements available for homeless young people aged 16-21 (or 25 under certain clrcumstances) and a total of 83 young people were accommodated over the year. In Supported Lodgings there were 232 placements avallable for homeless young people and a total of 251 young people were accommodated durlng the year. Our placements acros5 Hampshlre, Surrey, West Berkshlre, Wlltshire, West Sussex and Dorset offer either Supported Lodgings accommodation or Foyer accommodation. Young people are in a downward spiral when they arrive with 420/0 unemployed but 76010 of young people positively progressed or stabilised thelr clrcumstances. The key polnt about the 11-25 age group is that they are young enough and stlll adaptable enough to be helped. When they do succeed, the Step By step Partnershlp Ltrnlted l Registered Office.. 36 Crfmea Road, Aldersho¥ Hampshlre GUII ILID I Company No. 2431B251 Chadty No. 900308 DIRECTORS, REPORT For the year cndcd 31 March 2024 beneflt to both them and the local community Is enormous. The Charity's alm Is to help young people accept and deal with thelr problems, turn their Ilves around and become Independent and successful members of the community who are able to realise their aspirations. Thls Is done by a comblriation of individual advice and motivatlon, insistence on clear standards of acceptable behaviour and the provislon of a range of training schemes coverlng: basic independent living skills to ensure that young people can look after themselves proper5y - cookingi hyglene, laundry etc. health and fltness registratlon wlth the NHS, physlcal and emotional health, teenage pregnancy and sexual health, drug and alcoho5 mlsuse, motlvatlon. understanding finance - dealing wlth debts and gambllng and learnlng to budget and to successfully malntaln independence on a low Income. education and employment - getting Into work or tralnlng Is a very Important part of galnlng independence. community contribution controlllng anger, ceaslng offendlng, and taklng part in volunteering schemes organlsed by the Charlty to encourage community Involvement. mental health and wellbelng - Posltlve mental health and wellbelng help to create a foundatlon for growth and development. It Is Important we recognlse and address any barrlers such as mental health and ensure young people can access the support they need. The Charlty provldes a unlque combSnatSon of services to support young people to reach thelr goals. The Trustees belleve that thls, together with the achievements outllned above, provlde conslderable evldence of the slgnlficant publlc beneflt the Charlty achieves. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Documents The Charlty was Incorporated underthe Companles Act 1985 on 12 October 1989 and Is Ilmited by guarantee. It has been reglstered as a charlty slnce 25 January 1990. As a charltable company Ilmlted by guarantee, operatlons are governed by the Charlty's Memorandum and Artlcles of Associatlon. The Charlty's wholly owned subsldiary, Step by Step Fosterlng Limited, was Incorporated under the Companles Act 2006 on 11 October 2021 and Is limited by shares. Its operatlons are also governed by Its Memorandum and Artlcles of Assoclation. Dlrectors and Method of Appointment The Directors of the Charlty, who are also its Trustees, are elected at an AGM (or may be appointed during the year by the Board with electlon at the next AGM), The candidature of people wlth skills, experlence and/or Interests relevant to the Charlty's attivlties is encouraged through advertlsing publlcly, employing specialist recruitment agencies and sollclting local organlsations. They may serve for up to three years before re-election. Step by Step Fostering Llmited has a separate Board of Directors. Two of the Dlrettors are also Dlrectors of the Charlty, Andrew Mitchell and James Mowat. The Chlef Executive Officer of the Charity, Debra Moreton, Is also a director of the subsldlary, along with three additional directors (two independent of the Charity) who have been chosen for their knowledge and experience in thelr specla list a reas. Organisation and Decision Making The Governance structure is made up of a Board and two types of subcommittees which are known as a Board Executlve Committee (BEC) and Board Subcommlttees (BS). The BEC is Step By 5Lep Partnershlp Umlted l RegiSte￿d Office: 36 Crfmea R08d, ￿le{shO￿ Harnpthlre GUII IUD I Company No. 2431825 1 Charity No. 900308 DIRECTORS, REPORT For the year ended 31 March 2024 based on delegated decision-making powers handed down from the maln Board whilst Bss are based on advice and recommendations being requested by and submitted to the Board. Board members are appolnted to fulfll the terms of reference of specific roles that the Board wishes to add to Its Board team through a process managed by a Board Appolntments Subcommlttee. The Chief Executive is not a director but a permanent non-voting member of the Board with the right to attend all Board Meetings unless a conflict of interest exlsts. The Board meets every quarter. An induction procedure is used for all new members of the Board and Includes learning about the history, ethos and day-to-day operatlon of the Charlty as well as outllnlng their responsibilities, conduct at meetlngs and relatlons wlth staff. The inductlon Is usually carried out by the Chairman supported by other Dlrectors and the Chlef Executlve. Dlrectors are encouraged to attend training events relevant to thelr roles or asslgned interests within the Charity. The Charity operates In a conslstent way by following the policles set out and agreed by the Board, supported and Implemented by the Chlef Executive, Leadershlp Team and staff. Day-to-day operational responslblllty rests wlth the Chlef Executive, who is responsible for all staff, Supported Lodglngs Host familles and volunteers who provlde valuable support to young people. Day to day operatlonal respons1b5l￿tY for the subsidiary rests with its Responsible Indlvldual and Reglstered Manager. Separate Board Meetlngs for the subsldlary are held every quarter and it holds its own delegated powers reglster. Remuneration Policy To secure the standard5 of Its work and to provlde young people wlth excellent services, Step by Step (Sbs) strlves to attract and retain high quallty employees. A number of Its servlces significantly benefit from approprlately quallfled and competent staff that provide a contlnuity of care and hlgh level of continuity of service. Consequently, Sbs's salary pollcy Is to reward Its talented people falrly, equitablyi and conslstently In accordance wlth market values and to encourage their motivatlon and engagement. It Is the general prlnclple of the Charlty that the salaries and benefits, on average, be posltloned competitlvely In the local marketplace at a level recommended to the Audlt and Remuneratlon Board Sub Committee (ARSC) by the CEO and Head of HR. Leadershlp Team salary and benefits, excludlng the CEO, Is proposed to the ARSC by the CEO and If supported by the ARSC recommended to the Board for approval. With regard to the CEO'S salary and benefits review, the Chalrperson conducts a slx monthly and annual appraisal, utllislng feedback from the Board members. Any proposed change to CEO remuneratlon and benefits Is made by the Chairperson to the ARSC, includlng appralsal and local market remuneration data, and if supported recommended to the Board for approval. In the Ilght of current best practlce, It Is not anticipated that the CEO'S salary wlll be more than five times greater than the lowest pald full-tlme employee of the Charity. Risks The Charity operates a Risk Management process that meets the requirements of the Charlty Commission. The signiflcant rlsks to which the Charity could be exposed are: a. The welfare and safety of the young people accesslng our seNlces, partlcularly where they may be engaging In rlsk taklng behavlours. b. Loss of income due to an Inabillty to deliver fundralslng Income, contract losses or the Impact of welfare reform. Priority is given to managlng and mltlgatlng these potential risks effectlvely. Key mitigating actions to manage these risks have been implemented In the year. These Include: a. Safeguarding we review our safeguarding practice and governance every year by completlng a section I I safeguarding audit and an external independent audlt every Step By Step Pathership ￿rnited l Register￿ offi￿: 36 Crimea Road. Aldershot, Hamp5hlre GUII IUD I Company 2431825 I Charfjty No. ￿)308 DIREcfoRS' REPORT For thc year ended 31 March 2024 third year (including the current year). b. Loss of income - the long-term outlook naturally has a degree of uncertainty due to the current COSt of living after the pandemlc. We have, however, exceeded our fundralslng Income targets In 2021-2022, 2022-2023 and 2023-2024. The New Forest Provision is up and running and we are artlvely working with Local Authorities to house further Separated Children (Prevlously Unaccompanied Asylurn-seeklng Chlldren (UASC)) and Refugees. Our Supported Independence Flats & Supported Accommodation Beds In our Crlmea Road Building enable us to leverage income In addition to our maln local authority contracts. Ofsted for Supported Accommodation for 16+ Young People In March 2023, the government initiated the first set of regulations essential for Smplementlng reforms to supported accommodatlon for 16 and 17 year-old looked after chlldren and care leavers. Followlng thls, an Ofsted appllcation for registration was submitted by Sbs in August 2023. Our reglstratlon process and intervlews were successfully completed durlng September and October 2023. As a result, we are now offlclally reglstered wlth Ofsted to provide supported accommodatlon to age 16+ young people. The Charlty operates a Rlsk Management process that meets the requirements of Ofsted. Notifiable Events we need to submlt to Ofsted as part of our reglstratlon are.. A death of a child A referral about a staff member under section 35 of the Safeguarding Vulnerable Groups Act 2006 A chlld involved in or subject to, or Is susperted of belng Involved In or subject to, sexual expl oltation or chl Id criminal exploltation An Incident requiring pollce involvement In relatlon to a chlld and the registered person considers that incident to be serlous An allegatlon of abuse agalnst the service or a member of staff If a chlld protectlon enqulry Ss Instlgated or concludes An Incldent Involving the use of a measure of restralnt on a chlld Any other Incldent relating to a chlld whlch the registered person conslders to be serlous. Relationships with Other Organisations The Charity works with many organlsatlons includlng Local Authorlties, voluntary sector organisatlon5, Children's Services, Youth Support Services, the National Health Service (NHS) the Pollce and the Probation Service and Offender Management Service, all of whom refer young people to the Charity and with whom we seek to further thelr Interests. The Charlty works In partnershlp with Vlvld Housing Assoclation and London & Quadrant Housing Assoclation to accommodate vulnerable young people. Funders are a group of stakeholders who have a continulng Interest in the Charlty's performance and Its use of resources. Major funders include Local Authorlties, charitable trusts, corporate funders and foundations and other charltles. We are also supported by voluntary donatlons malnly from Indlviduals, local churches, schools, and organisations such as the Rotary, Round Table and Lions. To all of them, the Trustee5 give their thanks on behalf of the most important stakeholders, the young people and thelr families that we serve. ACHIEVEMENTS AND PERFORMANCE Opening of the New Forest Foyer Accommodatlon: We have successfully Implemented the New Forest Foyer, houslng 4 young people at any one time. step By Step Partner5hlp Umlted l RegiSte￿d Offlce: 36 Crlrnea Road, ￿derShot. Hampshlre GUIL IUD I Ccmpany No. 24318251 Charlty No. 900308 DIRECTORS, REPORT For thc ycar cnded 31 March 2024 Accommodation Services: At the end of the financial year, 31st March 2024, the Charlty was providing up to 279 accommodation beds for young people at any one tlme, down from 281 at the end of March 2023. Stage l accommodatlon offers support to those who meet the referral criteria for this accommodation. This includes 16+ looked after children and young people with Hlgh Intenslve Support needs and is based In Aldershot, Baslngstoke, New Forest and Havant. Supported Xndependence Flats are based withln the Aldershot Foyer and provide accommodation for young people who are not otherwise entltled to flnanclal support wlth housing. Wlthln these flats young people are able to Ilve more independently alongslde other young people and are supported with step sesslons wlth a dedlcated support worker. Supported Accommodation Beds are also avallable wlthin the Aldershot Foyer for young people that need our support but that do not have the funding for the support that they requlre. This support Is funded from our fund-ralslng activity. Referrals are from several agencles with whom the Charlty has a relatlonshlpi as well as young people being able to refer themselves. This year the Charlty accommodated 420/0 of all referrals made to Its accommodation services, recelving 445 referrals and maklng 189 admlssions. Durlng the course of the year 334 young people were accommodated, wlth up to 279 In residence In our accommodatlon servlces at any one tlme. Posltlve progresslon was achieved by 76 % of young people In the accommodatlon servlces overall. We commlssloned the Supported Independence Flats In December 2020 and have had 43 young people stay wlth a progression rate of 500/0. Supported Lodgings: Placements for 232 young people were avallable at any one tlme across six countles, wlth 251 young people belng supported durlng the year, and 830/0 achlevlng posltlve progress. Fostering: The subsldlary companyi Step by Step Fosterlng Llmlted, recelved reglstration approval by Ofsted to operate as an Independent fosterlng agency durlng the flnanclal year ended 31st March 2024. It Is able to provlde quallty supportlve foster placements to CYP (Chlldren and Young People) aged 11-18 (and slbllngs) Including those wlth multiple and complex needs wlthin South Central England. It had one actlve placement during the financlal year ended 31st March 2024. Training Services: Our tralnlng programmes are delivered by our accommodation teams and provide a range of sessions targeted at enhanclng the key life skllls of young people and supporting them Into employment and educatlonal opportunlties. Launch: Launch is a community outreach servlce. Launch provldes a wealth of services including Informatlon, advice and guidance on a range of issues, Including housing and homelessness support, applylng for benefits, sexual health, slgnpostlng, relationshlps, getting Into educatlon or employment. In addltion, Launch operates two speclallsed sessional based offers Including help with alcohol or drug recovery Including those affected by mlsuse in the home, and general emotional wellbeing support. Young people aged 11-25 can access Launch In person, vla live chat, email, text or phone. Last year Launch supported 831 young people, offerlng 924 sessions. Launch Is free and available for young people living in one of the six counties Step by Step operates in. Counselling: We are proud to dellver a counselling service across Surrey and Hampshire County Councils to young people aged 11-25. Counselling is free to access and can be accessed via self-referral from our website or vla health services such as a GP. Step By Step Partnership Limited | Reglstered Office.. 36 Crimea Road. Alde￿h0t, Hampshlre GUII IUD I Company No. 24318251 Charfty No. 900308 DIRECTORS, REPORT For" tlie yeai- ended 31 March 2024 With a quallfled team of over 8 counsellors ready to support young people. The counselling service is in high demand, against a backdrop of rising youth mental ill health, we were pleased to be able to support 508 young people in the year who attended 2702 counselllng sesslons. Fundraising: The Charlty is aware of the Charities (Protection and Social Investment) Act 2016 and the Trustees support the aims of thls legislation. The majorlty of the Charity's Income comes from other charitable bodies and local authorltles. The Charity undertakes very little direct fundraislng activity involving Indlvldual donors. Examples include our online glvlng page, Open Doors appeal and events which are promoted generally through communications, rather than targetlng specific indlviduals. The Charlty considers the origin of unsolicited donations and legacles. The Charlty does not share or purchase any donor data wlth or from thlrd partles. step by Step has been a reglstered member of the Fundralslng Regulator slnce 2017. Thls body helps to ensure that organisatlons raislng money for charlty from the public do so honestly and properly. The Fundralslng Regulator has a Code of Fundralsing Practlce whlch helps gulde Step by Step fundraislng practlce. During the year ended 31 March 2024, the Charlty was fully compliant wlth the Code of Fundralslng Practlce and dld not receive any complalnts in relatlon to fundralslng or ralse any matter with regulators. Public Relations: The Charlty has contlnued to receive regular positive media coverage Includlng on local radio and in the press. No negative publlclty has been received. Young People's Inltiatives/Participatlon: The Charity has worked to maxlmise young peoples, Involvement In all aspects of servlce provlslon and the ethos of the Charity places emphasis on ensurlng the young peoples, Interests are at the heart of service dellvery. The organisatlon takes an asset-based approach to worklng with young people, meaning very simplyi that the focus Is on thelr strengths and thelr talents, optlmlsing these qualitles in order to support young people to reallse thelr potentlal and fulfil thelr asplrations. This approach encourages responslblllty and accountablllty, and all young people are invlted to joln our Speak Out advisory group to share thelr thoughts and help gulde the charlty forward in Its future declslon maklng and strategic plannlng. Volunteers: Thls year we have retained our volunteers and successfully increased the number of volunteers providlng valuable support to the servlces. Volunteers contribute to areas such as premlses maintenance and development, community fundraislng, finance and admlnlstration, support of a database and recording system, management and collectlon of food and clothing donatlons. Thelr varied and signlficant contributlons are greatly appreclated, and the Charlty aims to further Increase the number of volunteers supporting our staff team further In the comlng year. Outcomes Monltoring: The Outcomes Star system, whlch Is a natlonally recognised formal outcome monltorlng system, has been used with continulng positive results. Credlble outcome Information is critlcal In assessing the effectiveness of our servlces to progress our young people and we continue to maintain accurate and comprehensive data records through the Inform" young people record management system. We have successfully moved from the Triangle Homelessness Outcome Star to the Triangle Young Persons Star during 2024 so we can better focus SUPPOrt on the needs of young people. Governance: A bi-annual self-assessment process to revlew Board performance is a well- established practlce and provides a productive vehlcle for continuous governance Step By Step Partnership Llmlted | Reglstered Office.. 36 Crfrnea Road, Ajdershot, H8mp$hlre GUII IUD I Compony No. 24318251 Charlty th). 900308 L)IKELTORS' REPORT For the year ended 31 March 2024 improvement. Last revlewed January 2024. The Board currently has 10 Trustee/Directors. Each Trustee/Dlrector has been recruited to a specific role and a competency table is maintalned to reflect the overall capability and skill set of the Board, scored to highlight any exposures. The Board is satisfied that the current mix of skills and competence is well suited to the governance of the charlty. The 10 Directors service range is 1 - 17 years with an average of 5.8 years. The Company Secretary tracks changes In both Company Law and Charity Commlssion regulations and advises the Board accordingly. Necessary and appropriate policles and associated procedures are in place separated Into two Ilsts. Llst A being those that require Board approval and List B beirbg those that do not and are solely wlthln the remit of the CEO and the Leadership Team, A clear statement is malntained, through a Delegated Powers Reglster, on the powers the Board has delegated Into the organlsatlon wlth clear Ilmlts on those powers and who is empowered to execute them. standard Items of report to every Board meetlng Includes Declaratlon of Confllcts of Interest, CEO report, Treasurer's report, Serious Incidents report, Safeguarding report, Health & Safety report, Property Malntenance report. Every other Board meetlng conslders the Rlsk Register. Key Achievements: The Charlty Is proud that, despite a challenging envlronment for UK charitles, we have remained focused on our mission and the numbers of young people supported has been malntalned. Some of our key achlevements in 2023/24 Include: We have Introduced a wlde number of tralnlng opportunltles through apprentI￿ShIpS and external course provlders for our staff teams. Foyer services have accommodated 83 young people this year. We have accommodated 251 young people in Supported Lodglngs services thls year. We have successfully funded the Supported Independence Flats and Supported Accommodatlon Beds for a further year allowlng us to contlnue supportlng and offerlng vltal houslng to unfunded young people. We completed our 24-25 safeguarding sectlon 11 audit. We successfully secured 9 separated chlldren (prevlously UASC) placements In Hampshlre foyers. Counselling services were dellvered to 508 young people, through 2702 counselllng sessions across Surrey and Hampshire. We have dellvered 924 Launch sesslons, Includlng 5 sexual hea5th sesslons. We have supported 831 vulnerable young people our communltles through our launch servlces. SBS has contlnued to support staff Tralnlng and Development, Taking on a new apprentice to the organisatlon and supportlng 5 employees to undertake Level 3 or Level 5 quallflcatlons. Trauma informed Tralnlng was dellvered to everyone In the organisatlon. Provlded Mental Health Flrst Ald Trainlng to all young person faclng employees In the Foyers and our Supported Lodging services. 830/D of young people In Supported Lodglngs have progressed, Ofsted registration achieved and implementatlon changes to meet the new Ofsted leglslation In all Supported Lodglngs and Foyer services and created processes and Invested in resource to Sustain compliance. We achleved Cyber essentlals accreditatlon. Developed new ways of reachlng potential hosts for the Supported Lodgings service vla Radio advertlslng and our new Step by Step Podcast. Fosterlng Agency fully operational and actively supportlng children. Speak Out group has had excellent progression and capturing high quallty feedback that can develop our servlces and improve the experiences of young people. Step By Step Partnershlp Umited l Registered Office.. 36 Crimea Road, Alder5hot, Hampshlre GUII IUD I Company No. 2431825 1 Chariiy No. 900308 DIRECTORS, REPORT ror the year ended 31 March 2024 The Opportunlty Fund has enabled 615 purchases for young people thls year, providing crucial flnancial support for items and rental deposits they otherwise couldn't afford. This fund empowers them to take signiflcant steps forward In their lives and future independence. FINANCIAL REVXEW FOR THE YEAR The Statement of Flnancial Activitles Is set out on page 17 and shows the net movement In funds for the year, Durlng the year a surplus of £268,679 was recorded for the Groupi A surplus of £370,351 for step by Step Partnershlp Ltd and a deflclt of £101,672 for Its wholly owned subsldlaryi Step by Step Fosterlng Llmlted, Step by Step Fostering Llmlted has incurred losses to date. Thls has been as a result of Company set-up and achievlng Ofsted registratlon approval. It does however have current placements and more foster carers golng through the approval process. We contlnue to revlew our Income and expenditure on a monthly basls. We seek new contratts and utlllse our fundraising resources to Increase Income. We also contlnuously review our cost base to ensure that our resources are applied efficlently and effectlvely to meet our objectlves. Reserves Policy The Charlty's pollcy is to establlsh and malntain a level of reserves which ensures resllience and adequate financlal resources are available when needed to secure on-going soclal Impact and publlc beneflt. It alms to ensure that there are funds available to meet all current and known liabllltles and continue to operate all our vital, hlgh quallty servlces for young people. It wlll also alm to ensure that there are funds available to cover financlal risks and future uncertalnties, for future planned expanslon of servlces and for other commitments and deslgnations. The Dlrectors regularly revlew reserves, Including the reserves of the Charity's wholly owned subsldiary, to ensure that the total group reserves are sufflcient to cover.. > Six to nlne months cover of budgeted expenditure1ess committed Income for the next twelve months. SIX to nlne months, cover is between £492k and £738k > Proposed development and commltted capltal expendlture for at least the next 12 months (£lm) > Flxed Asset Deslgnatlon as requlred by the SORP (£0.6m) Total Reserves as of 31st March 2024 are £2,212,938 comprising of deslgnated funds of £1,570,923 and unrestrlcted funds of £642,015. After allowlng for restrlcted and designated funds, the free reserves were £642,015 at the year end. Free reserves are funds that have not been restricted by the funder or designated by the Charity for a speclflc service or investment. Free reserves are within the reserves requlrement as stated In the Reserves Pollcy agreed by the Trustees, whlch the Trustees feel Is appropriate at the current time. Going Concern In determinlng that the Charity continues to be a going concern for the purposes of preparing these financial statements, the Trustees have consldered the followlng: The financlal performance of the Charity slnce the 31 March 2024 and current balance sheet posltlon 5￿p By Step Partnership Limited l Reglstered Office.. 36 Crtmea Road, Aldershot, Hampshlre GUII IUD I Company No. 2431825 1 Chariiy No. 900308 DIRECTORS, REPORT For- tlie yeai" ended 31 March 2024 2024/25 Budgets and forecasts of performance of the Charity to 31st July 2025, Including cash flow. the new contrart opportunities and investments that are belng progressed that evidence the benefit of the new foundations set for the Charity over the last few years. Through thls review, the Trustees have assessed that the Charity continues to be a going concern. Investment Policy All Investment declslons are taken in the best Interests of the Charlty achievlng its charitable purpose and follow the Charlty Commlsslon's guldance on Investment matters as stated In thelr publicatlon "Charities and Investment Matters: a guide for Trustees" Financial Investment The purpose of financial Investment Is to yleld the best financlal return wlthin the level of risk consldered to be acceptable. All such Investments by the Charity are subject to rlsk assessment as part of the formulation of financSal Investment cases. These may vary from very low rlsk Investments e,g,I cash reserves Investment to support the Reserves Pollcy invested under FSCS guarantee5, through to relatlvely hlgh-risk assessments e.g. fundlng new services Wlth the objectlve of creatlng new Income streams and surplus to support the charltable purpose. PLANS FOR YEAR AHEAD The 2024/25 year is the second year of a Board approved 3 year Strateglc Plan followlng a very successful delivery of the first year. The Charlty wlll stay focused on Its missSon and focus on both the growth of exlsting services and adding to them. Regrettably, In thls day and age demand for the Charity's services from vulnerable and dlsadvantaged young people contlnues to grow and diverslfy which presents both a challenge and opportunlty for the Charity to help meet that demand. Expanslon of all the servlces referenced In thls annual report Is part of the 24125 year plan and we are also seeklng to generate alternatives for provldlng 18+ move on accommodation. The lack of move on accommodatlon, and the lack of fundlng to support It, creates a cllff edge for young people In thelr journey to independent Ilvlng and it Is essential that optlons are found to address thls Issue. The 24125 year Is the flrst full year that step by Step will be operatlng under Ofsted regulations for Its Foyer, Supported Lodgings and Fosterlng servlces, The achlevement of successful registration In 23124 year was a great success for the Charity requlrlng both organisatlonal changes and Increased costs. Registratlon was seen as essentlal to enable the Charity to contlnue to deliver Its mission. In 24/25 the Charlty Is commltted to successfully dellverlng under these reglstrations. The plan assumes that the economlc and polltlcal environment wlll continue to be uncertaln, and that further pressure will exlst on public authorlties to cut 50clal funding budgets. Over the years Step by Step has shown that it is creative and innovative in deallng with such fundlng cuts and its fund-raising activltles evidence our success, Creativity and Innovation is now part of the culture of Step by Step in everything it does. Flnancial sustainabllity Is at the heart of this culture. All we do has to be affordable and financially sustainable. An excellent Financial Team has been establlshed and we have comprehensive monthly management accounts reviewed every month by the Treasurer and a selectlon of directors. The annual creatlon of a positlve surplus and assoclated positive cash generation underplns this financlal sustalnability. io Step By Step Partnership Limlted | Reui5tered Office.. 36 Crfmea Road, Al￿¢￿hot, Hampshlre GUII IUD I Company No. 24318251 ChaTity No. 9(￿7308 DIRkL I UFIS, REPORT For the year ended 31 March 2024 The key assets of Step by Step are its staff, volunteers, Supporting Lodglngs Hosts, and Foster Carers. The training, development, support and well-being of all these wonderful assets is of great Importance to the dellvery of the strateglc plan. Individual personal development plans support this process plus the use of a comblnation of in house and external training, mentoring and support services. The CEO continues to develop a Leadershlp Team capable of dellverir)g the Charlty's plans, wlth attention also being pald to successlon plannlng and leadership tralning. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also Dlrectors of Step by Step Partnershlp Limited for the purposes of company law) are responslble for preparlng the Dlrectors, Report and Flnancial Statements In accordance with applicable law and Unlted Kingdom Accountlng Standards (Unlted Kingdom Generally Accepted Accountlng Practlce). Company law requires the Trustees to prepare flnancial statements, for each financial year, which glve a true and falr vlew of the state of affairs of the Charitable Company and of the incomlng resources and appllcatlon of resources, includlng the income and expendlture, of the Charitable Company for that perlod. In preparlng these financlal statements, the Trustees are requlred to., select sultable accountlng policies and then apply them consistently. observe the methods and principles In the Charlties SORP. make Judgements and estimates that are reasonable and prudent. state whether appllcable UK Accountlng Standards have been followed, subject to any materlal departures disclosed and explalned in the flnancial statements; and prepare the flnancial statements on the golng concern basls unless It Is Inappropriate to presume that the Charltable Company wlll contlnue In business. The Trustees are responslble for keeplng proper accountlng records that dlsclose, with reasonable accuracy, at any tlme, the flnancial posltlon of the Charltable Company and enable them to ensure that the financSal statements comply wlth the Companies Act 2006. They are also responsible for safeguardlng the assets of the Charltable Company and, hence, for taklng reasonable steps for the prevention and detectlon of fraud and other Irregularities. In so far as the Trustees are aware: there is no relevant audlt information of whlch the Charitable Company's Auditor Is unaware. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt Informatlon and to establish that the Audltor is aware of that Informatlon. The Trustees are responsible for the malntenance and Integrlty of the corporate and flnanclal informatlon Included on the charltable company's webslte. Legislation In the Unlted Klngdom governing the preparatlon and dissemlnatlon of flnanclal statements may differ from legislation in other juri5dlttlons. Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31st March 2024 was 22 (2023.. 23). The Trustees are members of the Charity but this entitles them only to li Step By Step Partnetshlp Umlted | Registered Offlce: 36 Crfmea Road, Aldershot, Harnpshlre GUIL IUD I Company No. 24318251 Charity No. 900308 DIRECTORS' REPORT For the year ended 31 March 2024 voting rights. The Trustees have no beneficial interest in the Charity. ## **Auditor** Sayer Vincent LLP was re-appointed as the charitable company’s auditor during the year and has expressed its willingness to continue in that capacity. The director’s annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. The Trustees’ annual report which includes the strategic report has been approved by the Trustees on 26th July 2024 and signed on their behalf by Keith Gathergood Chair 12 Step By Step Partnership Limited | Registered Office: 36 Crimea Road, Aldershot, Hampshire GU11 1UD | Company No. 2431825 | Charity No. 900308 INDEPENDENT AUDITOR'S REPORT To the members of Step by Step Partnership Ltd For the ear ended 31 March 2024 Opinion We have audited the financial statements of Step by Step Partnershlp (the 'parent charltable company,) and its subsldlarylsubsidiaries (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of financlal actlvities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financlal statements, including a summary of significant accountlng policies. The financlal reporting framework that has been applled In their preparation is appllcable law and United Klngdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Unlted Kingdom Generally Accepted Accounting Practice). In our oplnlon, the flnancial statements: Glve a true and falr vlew of the state of the group's and of the parent charitable company's affalrs as at 31 March 2024 and of the group's Incoming resources and appllcation of resources, Including Its Income and expenditure, for the year then ended Have been properly prepared In accordance with Unlted Klngdom Generally Accepted Accountlng Practice Have been prepared In accordance wlth the requirements of the Companles Act 2006 and the Charlties Act 2011 Basls for opinion We conducted our audlt in accordance wlth Internatlonal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilltles under those standards are further descrlbed in the Auditor's responsibllltles for the audlt of the group financlal statements section of our report. We are independent of the group and parent charltable company In accordance wlth the ethlcal requlrements that are relevant to our audlt of the financial statements in the UK, Including the FRC'S Ethlcal Standard, and we have fulfllled our other ethlcal responsibilltles In accordance wlth these requirements. We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to provlde a basls for our oplnlon. Concluslons relating to going concern In audltlng the financlal statements, we have concluded that the trustees, use of the golng concern basls of accounting In the preparatlon of the flnanclal statements is approprlate. Based on the work we have performed, we have not Identified any material uncertalntles relatlng to events or condltions that, Individually or collectlvelyi may cast slgnificant doubt on Step by Step Partnership's ability to continue as a golng concern for a period of at least twelve months from when the financial statements are authorised for Issue. Our responslblllties and the responslbllities of the trustees wlth respect to going concern are described In the relevant sections of this report. other Information The other informatlon comprises the informatlon included in the trustees, annual report, than the group financial statements and our auditor's report thereon. The trustees are responslble for the other information contained wiLhin the annual report. Our opinion on the group financlal statements does not cover the other informatlon, and, except to the extent 13 Step By Stsp Partnership Limited l Reglstered Office.. 36 Crimea Road, Aldersho¢ Hampshire GUII IUD I Company No. 24318251 Charity No. 900308 INL)EPENDENT AUDITOR'S REPORT To the mcmbcrs of Step by Step Partnership Ltd For the ear ended 31 March 2024 otherwlse explicitly stated In our report, 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 group flnancial statements or our knowledge obtalned In the course of the audit or otherwise appears to be materially mlsstated. If we Identify such material inconslstencies or apparent materlal misstatements, we are required to determlne whether thls gives rlse to a material mlsstatement in the group ftnanclal statements themselves. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are required to report that fact. We have nothing to report In thls regard. Opinions on other matters prescribed by the Companies Act 2006 In our oplnion, based on the work undertaken in the course of the audlt.. The Information glven In the trustees, annual report, for the flnancial year for whlch the flnanclal statements are prepared Is conslstent wlth the flnanclal statements The trustees, annual report, has been prepared In accordance wlth appllcable legal requlrements Matters on which we are required to report by exception In the Ilght of the knowledge and understanding of the group and the parent charltable company and thelr envlronment obtained In the course of the audit, we have not Sdentlfied materlal mlsstatements in the trustees, annual report. We have nothlng to report In respect of the followlng matters In relatlon to whlch the Companles Act 2006 and Charitles Act 2011 requlres us to report to you if, in our oplnS0n: Adequate accountlng records have not been kept by the parent charltable companyi or returns adequate for our audlt have not been recelved from branches not visited by us. or The parent charltable company financial statements are not In agreement with the accountlng records and returns; or • Certain disclosures of trustees, remuneratlon speclfied by law are not made. or We have not received all the Information and explanations we requlre for our audit; or The dlrectors were not entstled to prepare the financlal statements In accordance wlth the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, annual report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully In the statement of trustees, responsibilitles set out- In the trustees, annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparatlon of the flnancial statements and for being satlsfied that they glve a true and falr vlew, and for such Internal control as the trustees determine is necessary to enable the preparatlon of financlal Statements that are free from material mi55tatement, whether due to fraud or error. In preparlng the financial statements, the trustees are responslble for assessing the group's and the parent charitable company's ability to continue as a golng concern, discloslng, as 14 Step By Step P8rtnershlp Umlted l Reg15tered Offlce.. 36 Crlmea Road, ￿dershO￿ Hampshire GUII IUD I Company Nc. 2431825 1 Charfty No. 900308 INDEPENDENT AUD￿OR,5 REPORT To the members of Step by Step Part.nership Ltd For the ear ended 31 March 2024 applicable, matters related to going concern and uslng the going concern basis of accounting unless the trustees either intend to Ilquidate the group or the parent charltable company or to cease operations, or have no reallstlc alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed audltor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report In accordance wlth those Acts. Our objettlves are to obtaln reasonable assurance about whether the financlal statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue an auditor's report that Includes our opSnlon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an audlt conducted in accordance wlth ISAS (UK) wlll always detect a material mlsstatement when It exlsts. Mlsstatements can arlse from fraud or error and are con51dered materlal If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economlc decislons of users taken on the basls of these flnanclal statements. Irregularltles, Includlng fraud, are instances of non-compllance wlth laws and regulatlons. We deslgn procedures In line wlth our responsibllltles, outllned above, to detect materlal mlsstatements In respect of Irregularities, Includlng fraud. The extent to whlch our procedures are capable of detectlng Irregularltles, Includlng fraud are set out below. Capablllty of the audit in detecting Irregularltles In identlfylng and assesslng risks of material misstatement In respect of Irregularitles, Includlng fraud and non-compllance with laws and regulatlons, our procedures Included the following: We enquired of management and the audlt and risk committee, whlch included obtalning and reviewlng supportlng documentatlon, concernlng the group's pollcles and procedures relating to: Identlfying, evaluatlng, and complylng wlth laws and regulatlons and whether they were aware of any instances of non-compllance; Detettlng and respondSng to the rlsks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud. The Internal contmls establSshed to mltigate rlsks related to fraud or non-compllance wlth laws and regulatlons. We Inspected the mlnutes of meetlngs of those charged with governance. We obtalned an understanding of the legal and regulatory framework that the group operates In, focusing on those laws and regulations that had a material effect on the flnancial Statements or that had a fundamental effett on the operatlons of the group from our professlonal and sector experlence. We communicated applicable laws and regulations throughout the audit team and remained alert to arsy indications of non-compliance throughout the audlt. We reviewed any reports made to regulators. We reviewed the flnancial statement dlsclosures and tested these to supportlng documentation to assess compliance with applicable laws and regulations. We performed analytical procedures to identify any unusual or unexpected relationships that may indlcate risks of materlal misstatement due to fraud. 15 Step By Step Partnershlp Llrnlted | Registered Omce.. 36 Crlmea Road, Aldershet, Hampshlre GUII IUD I Company No. 2431825 1 Charity No. 900308 INDEPENDENT AUDI I UR'S REPORT To the members of Jtep by Jctep PartncrJhip Ltd For the ear ended 31 March 2024 In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entrles and other adjustments, assessed whether the Judgements made in making accounting estimates are indicative of a potential blas and tested significant transactions that are unusual or those outside the normal course of business. Because of the Inherent limltatlons of an audlt, there Is a rlsk that we wlll not detect all irregularlties, Including those leading to a materlal mlsstatement in the flnanclal statements or non-compllance wlth regulation. This rlsk Increases the more that compllance wlth a law or regulation Is removed from the events and transactions reflected In the financlal statements, as we will be less Ilkely to become aware of Instances of non-compliance. The risk Is also greater regarding Irregularltles occurring due to fraud rather than error, as fraud Involves Intentional concealment, forgeryi colluslon, omisslon or mlsrepresentation. A further descrlption of our responsibilltles is avallable on the Flnancial Reportlng Councll's webslte at.. www. .uk audi onsibSlltie Thls descrlption forms part of our auditor's report. Use of our report This report Is made solely to the charltable company's members as a body, In accordance with Chapter 3 of Part 16 of the Companles Act 2006 and sectlon 144 of the Charltles Att 2011 and regulatlons made under section 154 of that Att. Our audlt work has been undertaken so that we might state to the charltable company's members those matters we are requlred 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 responslbl1Sty to anyone other than the charltable company and the charltable company's members as a bodyi for our audlt work, for this report, or for the oplnions we have formed. Joanna Plttman (Senlor statutory audltor) Date: 8 August 2024 for and on behalf of Sayer Vlncent LLP, Statutory Auditor 110 Golden Lane, LONDON, ECIY OTG Sayer Vincent LLP Is eliglble to act as audltor In terms of settion 1212 of the Companles Act 2006 16 Step ey Step Partnershlp Umlted l Registered Offl￿.. 36 Crimea Road, ￿derShot, Harnp$hl￿ GlJll IUD I Company No. 24318251 Charity No. 900308 St•p by Step Partn•rshlp Consolldated thtÈmeTht of flnarbE141 ècthfftlos Oncorporailng an income and txpendlture account) For ih•Y•aT ended 31 March 2024 2024 Tot*1 Unrestriciod 2023 Total Unre5trlctEd 015ignated R¢srrltred Deslgnated Kestrlcted NDte IrKom• fmm: Donarions and legacie5 Charitabla actwitie5 Accomrnodation Counselllng & support Developmenr project5 Investment5 182,225 182.225 233.874 233,874 3.149,024 369.906 276,559 221,907 4,396 3.425.583 591,813 4.396 29.389 2,877.250 350,439 174.683 204,579 23,000 3,051.933 555,018 23,000 2.086 29,389 2,086 Total Incom• 3.730.544 502,862 4.233.406 3,463.649 402,262 3,865.911 Exp•rbdltur• oh: RaSslng funds harltable actlvStlÈs Accornmodaiion Counselllng & supporr Development proJEcls Totsl •xp¢hdiiiir• 261.824 261.824 211.169 2.674,424 391,883 133.734 276,559 221,907 4,396 2.950,983 613.790 138.130 2,522.608 405.913 31.347 174.683 204.579 23,000 402,262 2,697.291 610.492 154.347 3,461,865 502,862 3.964.727 3,271,037 3,673,299 Net Incorn• I16¥p•ndlwre) for th• y¢Ar 268,679 268,679 192,612 192,612 Transfer5 bemeen funds 1453,0591 453,059 80,434 69,566 11 so,0001 Nèt lThcom• I l•xpèndiiur•l bèfore oth•r r•coqnlsed galn¥ •nd IoM•s 1184.3801 453,059 268,679 273,046 69,566 1150,0001 192,612 N•t mo¥•m•hi In lundi R*condllarlon of fundi.. Toi•l funds brou9ht forward TO1￿ fvndj c•rrl•d 1184.3801 453.059 260￿71 273,046 69.5fj6 11 so.0001 192,612 826,395 1.117.863 1,944,Z58 2,212,937 553,349 l.e48,297 1,117,863 150,000 1.751,646 642,015 1.570,922 826,395 1.944,258 All ol thi ibov• results ire der￿ed from ¢onrinulng ictlvltles.There were no athef recognlsed gAln5 ar losses othtr rhan Iho5q Stated ibcve. Moyemenry In funds are d15clostd In Note I io the nninclal sriremenis. Step by Step Partnership Ltd Company no. 2431825 ## Balance sheets ## As at 31 March 2024 |As at 31 March 2024
Balance sheets|As at 31 March 2024
Balance sheets|As at 31 March 2024
Balance sheets|Company no. 2431825|Company no. 2431825| |---|---|---|---|---| |2024
2023
Note
£
£
Fixed assets:
11
606,922
613,463
12
-
-
606,922
613,463
Current assets:
14
269,450
525,594
250,000
-
1,776,324
1,437,211
2,295,774
1,962,805
Liabilities:
15
(689,759)
(632,010)
1,606,015
1,330,795
2,212,937
1,944,258
19
-
-
1,570,922
1,117,863
642,015
826,395
Total unrestricted funds
2,212,937
1,944,258
2,212,937
1,944,258
Total funds
Investments
Cash at bank and in hand
Tangible assets
The group
Short term deposits
Creditors: amounts falling due within one year
Net current assets
Total net assets
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Debtors
Funds:|||2024
2023
£
£
606,922
613,161
1
1
606,923
613,162
434,717
614,261
250,000
-
1,761,337
1,402,646
2,446,054
2,016,907
(684,517)
(631,960)
1,761,537
1,384,947
2,368,460
1,998,109
-
-
1,570,922
1,117,863
797,538
880,246
2,368,460
1,998,109
2,368,460
1,998,109
The charity|| ||606,922
269,450
250,000
1,776,324|613,463
525,594
-
1,437,211|606,923
434,717
250,000
1,761,337|613,162
614,261
-
1,402,646| ||2,295,774
(689,759)|1,962,805
(632,010)|2,446,054
(684,517)|2,016,907
(631,960)| ||1,606,015|1,330,795|1,761,537|1,384,947| |||||| ||2,212,937|1,944,258|2,368,460|1,998,109| ||-
1,570,922
642,015|-
1,117,863
826,395|-
1,570,922
797,538|-
1,117,863
880,246| ||2,212,937|1,944,258|2,368,460|1,998,109| ||2,212,937|1,944,258|2,368,460|1,998,109| Approved by the trustees on 26th July 2024 and signed on their behalf by S Mylvaganam Treasurer / Director K Gathergood Chair / Director 18 Step by stsp Partnershlp Ltd Consolldated 5tatemenl of cash flows For th @ar ended al v.arr ?0?.4 Note 2024 2023 Cash flows from operatlng actlvltles Net income l (expenditure) for the reporting period (as per the statement of financial activitles) Depreciatlon charges Dividends, Interest and rent from Investments (Profit)I loss on the disposal of fixed a55ets (Increase)Idecrease In debtors Increase/(decrease) In credltors 268.679 192,612 32.280 (29,389> 28,552 (2,086) 256,144 57,749 (222,175) (24,529) Net cash provlded by / (used In) operatlng actlvltles 585,463 (27,626) Cash flows from Investlng actlvltles: Dividends, interest and rents from investments Proceeds from the sale of flxed assets Transfer to short term deposlt account Purchase of fixed assets 29,389 2,086 (250.000) (25.739) (604,718) Net cash provlded by / (used In) Investlng actlvltles (246,350) (602.6321 Change In cash and cash equlvalents In the year Cash and cash equlvalents at the beglnnlng of the year Change In cash and cash equivalent5 due to exchange rate movements 339,113 (630,258) 1,437.211 2,067,469 Cash and cash equlvalents at the end of the year 1,776.324 1,437,211 SteD bv Step Partnership Ltd Notes to the financlal statement5 l Accountlng policies a) Statutory Information Step by Step Partnership Ltd is a charitable company limited by guarantee and is incorporated In England and Wales. The reglstered office address and principal place of buslness is 36 Crimea Road, Aldershot, Hampshire, GUI I I UD. b) Basls of preparatlon The financlal statements have been prepared in accordance wlth Accounting and Reportlng by Charities.. Statement of Recommended Practice appllcable to charities preparlng their accounts in accordance with the Financlal Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102) - Icharities SORP FRS 102). The Financlal Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) and the Companles Act 2006. These financlal statements consolidate the results of the charlty and its wholly-owned subsldiary Step by Step Fostering Llmlted on a Ilne by Ilne basls. Transactlons and balances between the charity and its subsldlary have been elimlnated from the consolidated financlal statements. Balances between the two entities are disclosed In the notes of rhe charlty's balance sheet. A separate sratement of flnancial actlvlties, or Income and expendlture account, for the charity Irself is not presented because the charlty has taken advantage of the exemptlons affoided by sectlon 408 of the Companles Act 2006. A summary of the result for the year is disclosed in the notes to the accounts. A55ets and IlabSlltles are inltlally recognlsed at historlcal cost or Iransaction value unless oiheNise stated In the relevant accounting policy or note. The trustees do not con51der that there are any sources of e5tlmatlon uncertalnty at the reporting date that have a slgnlflcant rlsk of causlng a materlal adjustment to the carrying amounts of assets and liabilltle5 wlthln the next reportlng period. c) Publlc beneflt entlry The charity meet5 the definltlon of a publlc benefit entlty under FRS 102. d) Golng concern The trustees conslder rhat there are no materlal uncertalntles about the charity's ablllty to conilnue as a golng concern. The trustees do not consider that there are any sources of estimatlon uncertainty at the reportlng date that have a slgnlficant rlsk of causing a material adjustment to the carrylng amounts of assets and Ilabllltles withln rhe next reporting perlod. e) Income Income 15 recognlsed when the charity has entltlement to the funds, any performance condlrlons attached to the Income have been met, It Is probable that the Income wlll be recelved and that the amount can be measu red reliably. Income from government and other grants. wherher 'capltal' grants or 'revenue' grants, 15 recognlsed when the charliy has entltlement to the funds, any performance conditions attached to the grants have been met, It Is probable that the Income wlll be recelved and the amount can be measured reliably and Is not deferred. For legacles, entltlement Is taken as the earller of the date on whlch elther: the charlty Is aware that probate has been granted, the estate has been flnallsed and notlflcatlon has been made by the executorls) to the charity that a distrlbutlon will be made, or when a distrlbutlon Is recelved from the estate. Recelpt of a legacy, in whole or In part, Is only consldered probable when the amount can be measured rellably and the charlty has been notified of the executor's Intention to make a dlstrlbutlon. Where legacies have been notifled to the charlty, or the charity Is aware of the grantlng of probate, and the criteria for Income recognition have not been met. then the legacy is a treated as a contingent asset and dlsclosed if materlal. Income recelved in advance of the provision of a 5peclfled service Is deferred untll the criteria for Income recognition are met. f) Donatlons of g1ft5, servlces and facllltle5 Donated professional setvlces and donated facllltles are recogni5ed as Income when the charity has control over the Item or received the seNice, any condltlons associated with the donation have been met, the receipt of economlc benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance wlth the Charities SORP IFRS 102), volunteer tlme is not recognised so refer to the trustees, annual report for more Information aboui thelr contribution. On receipt, donated gift5, professlonal seNices and donated facllities are recognised on the basi5 of the value of the gift to the charity which 15 the amount the charity would have been willing to pay to obtaln services or facllltles of equivalent economic beneflt on the open market., a corresponding amount Is then recognised in expendlture in the period of receipt. g) Interest receivable Interest on funds held on deposlt is included when recelvable and the amount can be measured reliably by the charity., this 15 normally upon notification of the Interest paid or payable by the bank. 20 Step by Step Partnershlp Ltd Notes to the finanr.ial srarè.me.nts or IM rch202 l Accountlng policies (contlnued) h) Fund accountlng Restricted funds are to be used for specific purposes as laid down by the donor. Expendlture which meets these criteria is charged to the fund. Unrestricted funds are donatlons and other incomlng resources recelved or generated for the charitable purposes. Deslgnated funds are unrestrlcted funds earmarked by the trustees for particular purposes. l) Expendlture and Irrecoverable VAT Expenditure is recognlsed once there Is a legal or constructlve obligatlon to make a payment to a thlrd party. It Is probable that settlement will be requlred and the amount of the obllgation can be measured rellably. Expendlture Is classlfied under the followlng actlvlty headings: Costs of ralsing funds relate to the costs incurred by the charity in seeklng voluntary contrlbutlons, as well as the cost of any activltles with a fundraising purpose Expenditure on charltable acilvltles includes the costs of dellverlng accommodatlon and su pport servlces, welfare, guldance and cou nselllng actvltles u ndertaken to further the purposes of the charlty and thelr assoclated support Other expenditure represent5 those Items not falllng Into any other heading Irrecoverable VAT is charged as a cost agalnst the acilvlty for whlch the expenditure was Incurred. J) Allocatlon of support Costs Resources expended are allocated to the partlcular actlvity where the cost relates dlrectly ro that activlty. However, the cost of overall direcilon and admlnlstratlon of each actlvity, comprislng the salary and overhead costs of the central functlon, Is apportioned on the followlng basls whlch are an estlmate, based on staff tlme, of the amount attrlbutable to each actlvlty. Where information about the alms, objectlves and projects of the charlty Is provlded to potentlal beneficlarles, the costs associated wlth thls publiclty are allocated to charltable expendlture. Where such Informarlon about the aims, objectives and projects of the charity is also provided to potentlal donor5, actlvlty costs are apportloned between fundralslng and charltable actlvities on the basls of area of Ilterature occupled by each acrlvity. Supported Accommodatlon Counselllng & Support Cost of ralslng funds Growth & Development Governance cost5 53% 19% 9% 16% Governance costs are the costs assoclated wlth the governance arrangements of the charity. These costs are assoclated wlih constltutlonal and statutory requirements and Include any costs assoclated wlth the strateglc management of the charlty's acilvltles. k) Operatlng leases Renral charges are charged on a stralght Ilne basis over the term of the lease. l) Tanglble flxed assets Items of equipment are capltallsed where the purchase prlce exceeds £500. Depreciatlon costs are allocated to artlvltles on the basis of the use of the related a55ets in those actlvltles. Assets are reviewed for Impalrment If clrcumstances Indicate thelr carrylng value may exceed their net reallsable value and value In use. Where fixed assets have been revalued. any exce55 between the revalued amount and the hlstorlc cost of the asset wlll be shown as a revaluatlon reserve in the balance sheet. Depreciation Is provided at raies calculated to write down the c05t of each asset to Its estimated residual value over its expected useful life. The depreciation rates In use are as follows.. Freehold property Computer equipment Furniture and fitting5 2% straight Ilne 3 3% straight Ilne 10% - 20% stralght line 21 Step bv SteD Partnership Ltd Notes to th• financlal statement5 l March l Accountlng policles (contlnued) m) Investments In subsldlarles Investments In subsidiaries are at cost. n) Debtor5 Trade and o(her debtors are recogn ised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. o) Short term dep051ts Short term deposlts Includes cash balances that are invested in accounts wlth a maturlty date of between 3 and 12 months. p) Cash at bank and In hand Cash at bank and cash In hand I ncludes cash and short term hlghly Ilquld Investments wlth a short maturlty of three months or less from the date of acqu isltion or opening of the deposlt or slmllar accou nt. q) Credltors and provlslons Credltors and prov151ons are recognSsed where the charlty has a present obllgatlon resultlng from a past event that wlll probably result In the transfer of fu nds to a thlrd party and the amount due ro Settle the obligarlon can be measured or estlmated rellably. Credlrors and provlslons are normally recognlsed at thelr settlement amount after allowlng for any trade dlscounts due. r) Flnanclal Instruments The charity only has flnanclal a55et5 and financlal Ilabllities of a klnd that qualify as baslc fl nanclal Instruments. Baslc flnanclal instru ments are initlally recognlsed at transaction value and 5ub5equently measured at thelr settlement value. s) Penslon5 The Charlty operates a deflned contrlbutlon penslon scheme and the pension charge repre5ent5 the amounts payable by Ihe Charity to the Scheme in respect of the year. 2 Income frorn donatlons and legacle5 2024 Total Unrestrlcted 2023 Total Unrestrlcted Restrlcted Restricted Churches Secular organisatlons Indivlduals Legacles Events Other 8,207 79,556 69,127 8,207 79,556 69,127 6,571 145,366 67,765 6,571 145,366 67,765 25.335 25,335 14,172 14,172 182.225 182,225 233,874 233,874 22 Step by Step Partnershlp Ltd Notes to the flnanclal statements ar ended 3 24 3 Income from charltable actlvltles 2024 Total Unrestrlcted 2023 Total Unrestricted Restricted Restricted Accommodatlon Counselling & Support Development projects 3,149,024 369,906 276.559 3.425,583 221,907 591,813 4.396 4,396 2,877,250 350,439 174,683 204,579 23,000 3,051,933 555,018 23,000 Total 3,518,930 502,862 4,021,792 3,227,689 402,262 3.629,951 4 Income from charltable actlvltes by funder 2024 Total Unre5trlcted 2023 Total Unrestrlcted Restricted Restrlcted Grants and contracts Trust Income Local Authority Grants 169,473 483,944 18.918 653,417 18,918 142,323 402,262 544,585 Sub-total 169,473 502.862 672,335 142,323 402,262 544,585 Houslng & Supported Lodglngs related Incomes Local Authority Contracts Rent and Personal Charges Sundry Incorne 3,222,688 126,769 3,222,688 2,955,553 126,769 129,753 60 2.955,553 129.753 60 Sub-total 3.349,457 3,349.457 3,085,366 3.085.366 Total Income from charltable actlvltles 3,518,930 502,862 4,021,792 3,227.689 402,262 3,629,951 23 M￿￿0)u0) MID(YlfDP V1¢71NO*P ctr ¢u u￿000090 VCLCLQQQQ 3JJJJJ r•ja>￿￿m0 t1￿Mm0 ¢y I I I c¢ I om I Ln VWOOOOOO U CLCLCLfk£XQ +lJ CL£L£LQaQ Step bvstep Partnershlp Ltd Notes to the flnanclal statemants ended 31 March Net Income l for the flnanclal year (101,672) 153,851) Retalned earnlngs Total retalned earnlngs brought forward Profit I Ilossl for the financlal year Dlstribution under Glft Ald to parent charlty (53.851) <101,672) 153.851) Total retalned earnlngs carrled forward (155.523) 153,851) The aggregate of the asset5. liabllltles and reserves was.. Assets Llabllltle5 30,034 (185.556) 39.190 193.040) ReseNes (155.522) 153,850) Amounts owed to the parent undertaklng are shown In note l 4. 28 Step by Step Partnershlp Ltd Not•s to tha flnanclal statements For the ded3 24 Parent charlty The parent charlty's gross income and the results for the year are disclosed as follows.. 2024 2023 Gross Income Result for the year 4.224,751 370,351 3,865.911 246,463 14 Debtors The group 2024 The charlty 2024 2023 2023 Trade debtors Other debtors Amounts due from group undertaklngs Prepayments Accrued income 160,487 166 399.507 1,486 151.831 166 180.313 98.196 4.211 399.507 1 ,486 92,990 63.772 56.506 104,587 4,210 65.867 58,734 269.450 525.594 434,717 614,261 15 Credltors: amounts falllng due wlthln one year The group 2024 The chartty 2024 2023 2023 Trade credltors Taxailon and soclal securlty Other credltors Amounts due to group undertaklngs Accruals Deferred Income {note 16) 153,864 52,172 15.692 163,427 34,399 11,328 150,404 52,172 15,692 163,377 34,399 11,328 57,967 410.064 34,374 388.482 56,185 410.064 34,374 388,482 689,759 632.010 684.517 631,960 29 Step by Step Pannershlp Ltd Notes to tho flnanclal statements For ended 31 March 20 16 Deferred Income Deferred Income comprises of multi-year grant fundlng and contract income received in advance. The group The charlty 2024 2024 2023 2023 Balance at the beglnnlng of the year Amount released to Income in the year Amount deferred In the year 388,482 (368.642) 390.224 324,794 {324,1941 388.482 388,482 (368.642) 390.224 324,194 (324,194) 388.482 Balance at the end of the year 410.064 388,482 410.064 388,482 17 Penslon scheme The charlty operates a Deflned Contrlbutlon Scheme. Amounts pald Into the scheme were £50,394 (2023: £49,011). Amounts Outstanding at the end of the year were £13.36612023.' £10,05 51. 18a Analysls of group net assets between funds (current year) General unrestrlcred Designated funds Restrlcted funds Total funds Tanglble flxed assets Net current assers Credltor5 due wlthln one year 606.922 964.000 606,922 2.295.774 (689.759) 1.331,774 1689,759) Net assets at 31 March 2024 642,015 1.570.922 2,212.937 18b Anatysls of group net assets between funds (prlor year) General unrestrlcted Designated funds Restrlcted funds Total funds Tanglble fixed assets Net current assets Credltors due withln one year 613.463 504.400 613,463 1.962,805 (632,0101 1,458.405 1632.010) Net assets at 31 March 2023 826.395 1,117,863 1,944,258 30 Step bv Step Partnershlp Ltd Notes to the financlal statsmants For the ear IM rch202 19a Movements In funds (current year) At l Aprll 2023 Income & galns Expendlture & losses At 31 March 2024 Transfers Restrfcted funds: Supported Accommodatlon Counselling & Support Servlces Development Projects 276,559 221.907 4,396 1276.559) 1221 ,907) (4,396) Total restrlcted funds 502.862 {502,8621 Unrestrfcted funds: Designated funds: Capital & Maintenance Fund Developmeni Capital Fund Flxed Asset Fund 65,000 439,400 613,463 (20.0001 479,600 (6,5411 45.000 919.000 606.922 Total designated funds 1,117,863 453,059 1,570,922 General funds 826.395 4,233.406 (3,964.727) 1453,0591 642.015 Total unrestrfcted funds 1,944.258 4,233,406 13,964.727) 2.212.937 Total funds 1,944.258 4,736,268 14,467.589) 2.212.937 The narratlve to explaln the purpose of each fund is glven at the foot of the note below. 5teD bv Step Partnershlp Ltd Notes to the flnanclal statements ended 31 Marc 19b Movements In funds (prlor year) At l April 2022 Income & galns Expenditure & losses At l Aprll 2023 Transfers Restrlcred funds: Supported Accommodation Counselling & Support Servlces Purchase of Property Development Projects 174,683 204,579 1174,683) 1204.579) 150,000 IT 50,0001 23,000 (23,0001 Totsl restrlcted funds 150,000 402,262 1402.2621 {150,0001 Unrestrlcted fund5: Deslgnated funds: Capltal & Malntenance Fund Development Capital Fund Flxed Asset Fund 65.000 946.000 37.297 65.000 439.400 613.463 1506,600) 576.166 Total deslgnated fund5 1.048,297 69.566 1.117,863 General fvnds 553.349 3,865,911 13,673.299) 80.434 826.395 Total unre5trlcted funds 1,601,646 3.865,911 13.673,299) 150.000 1.944.258 Total funds 1.751.646 4,268.173 14.075,561) 1.944,258 Purposes of restrlcted funds Supported Accommodatlon Thls fund Is restrlcted funding to be used wlthln the supported accommodatlon servlces. This includes., Speclallst staff trainlng and enhanced one to one support wlth young people at our foyer accommodatlon, Support workers for Supporred Independence Flats and Supported Accommodatlon Beds and funding for our Supported Lodgings Scheme for young people aged 18 and over. Counselllng & Support Ser4lce$ Thls fund provides specialist one to one counselllng servlces and a drop-ln servlce provldlng informatlon, guldance and support to young people and thelr famllies. Purchase of Property Thls fund represents donatlons by indivlduals restrlcted to the purchase of property only. Young people Tralnlng and Actlvltles Thls fund supports a number of Services, whlch offer a comblnatlon of support, skllls tralnlng, actlvltles and constructive occupatlon of rlme. Development ProJettS Thls fund Is to SUPPOrt projects to develop the servlces provlded to young people. Purposes of deslgnated funds Capltal and Malntenance Fund ThSs has been designated for rhe necessary replacement of equipment. property dllapidations and non-routlne property maintenance and repalrs. Development Capltal Fund ThSs fund had been deslgnared to provide funding for investments in development projects to further dlversify and grow and sUPPOrt the services we provlde to young people. Flxed Asser Fund This fund has been deslgnated to match the net book value of the Charlty's flxed assets. 32 Step bv Step Partnershlp Ltd Note$ to tho tlnanclal statements nr th• v•Ar ended -.lrrh ?0 20 Operatlng lease commltments payable as a lessee The group's total future mlnlmum lease payments under non-cancellable operating leases Is as follows for each of the following perlods: Property 2024 Equipment 2024 2023 2023 Less than one year One to flve years Over flve years 30.766 123.064 220.490 30,766 123,064 251.256 562 749 562 374.320 405,086 562 1,31 I 21 Post balance sheet events There are no post balance sheet events whlch need to dlsclosed. 22 Legal status of the charlty Step by Step Partnershlp Limlted Is a charltable company limlted by guarantee and has no share capital. Each member Is Ilable to contrlbute a sum, not exceedlng £ I , In the event of the Charity belng wound up. 33