Trustees, Report and Strategic Report Legal Structure and Governance Inspire was incorporated by guarantee on 8th April 1991. It has no share capital and is recognised as a charity by the Charity Commission and HM Revenue and Customs. The guarantee of each member is limited to £1. The governing documents are the Memorandum and Articles of Association las adopted 7 December 2014. accordance with this article, if willing to act. shall be eligible for reappointment for a further term of up to three consecutive years. The Trustees may at any time co-opt any eligible individual and a co-opted Trustee shall be appointed to hold office from the date of appointment to the next annual general meeting. Inspire has a number of wholly owned subsidiaries- Inspire Wellbeing Company Limited by Guarantee 115848091 registered in the Republic of Ireland and Carecall INI) Limited. the latter also having a wholly owned subsidiary registered in the Republic of Ireland, EAP Consulting Limited113726601. Induction and Training of Trustees New Trustees and committee members receive an induction upon appointment to the Board of Trustees and are invited to spend time with members of the Executive Leadership Team as part of their induction. This is a chance to learn about Inspire Wellbeing and identify opportunities to become more involved with our work_ Trustees are also invited to sewice visits to learn more about Inspire Wellbeing_ The Trustees will be provided access to regular training and development to ensure Trustees are adequately informed to ensure ihey cèn exercise effective governance. The Board of Trustees is responsible for the overall governance and strategic direction of the organisation with the CEO, in conjunction with Executive Leadership team, having responsibility for ensuring smooth running of day to day operations. The Trustees are elected under the terms of the Articles of Association. Our Committees We have four committees in place to support our governance processes. Throughout the year the Trustees did nol engage in any of the following activities in relalions to the company.. These are". Undertake material transactions with the company_ Services, Quality and Development Committee Receive any loans from the company. Finance, Risk and Corporate SeNices Committee Receive any remuneration for services as Trustee of the company. Nominab"ons and Governance Oversight Committee Hold shares in the Company (which is limited by guarantee and has no share capital). Remuneration Committee Each committee is guided by a Terms of Reference. has a quorum of Trustee representatives and rnay have co-opted members where appropriate. The Remuneration Committee meets up to twice a year and the others meet a minimum of four times per year. Recruitment and Appointment of Trustees The recruitment and appointment of Trustees is managed through recommendations from the Nominations and Governance Oversight Committee to the Board of Trustees. The Nominations and Governance Oversight committee also manage the ski115 req uired for new Trustees and Trustees. rotation. Organisational Structure and Decision Making In order to ensure that the Inspire Group is managed eff iciently and effectively. the Trustees have delegated a range of dayto day decision making powers to the Executive Leadership Team. Trustees shall be appointed by an election of the members of the Charity at the AGM. A Trustee must be admitted as a member of the Charity on appointment as a Trustee. At each AGM all Trustees. except for Chair and Vice Chairperson under article 21 of the Charity's Articles of Association. who have served three consecutive years or more as a Trustee shall retire from office. A Trustee who retires in The Trustees have established appropriate controls and mechanisms to ensure that the staff team operate within the powers delegated to it. Inspire Wellbeing Annual Report Year Ended 31 Maich 2023 27
Trustees, Report and Strategic Report Legal Structure and Governance Continued The Executive Leadership Team is responsible for the management of the Group and its subsidiaries. in line with the strategic direction agreed by the Trustees. Trustee Attendance at Board Meetings during the year to 31 March 2023. Meetings Attended Outofa Possible Arrangements for Setting the Pay and Remuneration of Key Management Personnel The Remuneration Committee makes all key decisions on the setting of pay and remuneration for key management personnel,. The Committee is guided by a Terms of Reference and has a quorum of Trustee representatives. Trustee Aidan Browne Jill Harrower-steele William Frtzpatrick David Kenefick George O'Neill Michael Hickey Colm Conway Finola O'Kane Public Benefit Statement The public benefit requirement is defined in the Charities Act (Northern Ireland) 2008 and states that purposes must be for the public benefit to be charitable. The Trustees confirm that they have complied with the duty to have regard to the guidance issued by the Charity Commission for Northern Ireland under section 4lbl of the Charities Act (the public benefit requ irement statutory guidance) a nd the Charities Regulatory Authority guidance in the Republic Of Ireland. The Trustees are confident that the activities have helped to achieve the Charity's purposes and provide a benefit to the beneficiaries. Seamus Mannion Maeve Hully Ben Banerji Peter Brown Seamus Cowman Emma Pollock A quorum is comprised of any two members of the Board of Trustees from time to time to perform administrative and other routine functions on behalf of the Board of Trustees. Plans for Future Periods The plan for the future is to continue to build on the mission of the organisation and embed our values across the Group. As we drive forward we also conlinue to develop our financial plans to ensure that Inspire Wellbeing achieves and maintains its free reserves within a tolerances agreed by the Trustees. 28 Inspire Wellbeing Annual Report Year Ended 31 March 2023
Trustees, Report and Strategic Report Financial Review The net movement in fund5 for the year is set out in the Financial Statements and related notes. The Inspire Wellbeing Group had a surplus for the 2022123 financial year of£2,098K12021122-. £2,612KI. The total funds ofthe Inspire Wellbeing Group at the end of 2022123 were £13,999K12021122.' £11,901KI. The Group had £1,075K of funds held for restricted purposes12021122= £882KI. The detailed financial results for the year ended 31st March 2023 are set out in the Financial Statements that accompany this report which have been prepared in accordance with the Companies Act 2006 and the Charities SORP IFRS 1021_ Summary Statement of Financial Activities Total Funds 2022123 £'ooo Total Funds 2021122 £'ooo Total Incoming Resources Total Expenditure Net Incoming Resources 38,531 36,433 2,098 35.278 32,666 2,612 Summary Balance Sheet 31 March 2023 31 March 2022 £'ooo £'ooo Fixed Assets 5.579 8.421 {1) 13,999 1,075 12,924 13,999 5,760 7,701 11,5601 11,901 Net Current Assets Non-current Liabilities Net Assets Restricted 882 Unrestricted 11.019 Total Funds 11,901 Reserves Policy The Charitable Group Reserves Policy has been set by the Trustees with a future target range of 2.25 to 3 months of unrestricted reserves to be achieved. recognising the current risk profile of the organisation. The policy is in place to ensure the Group can continue to deliver the services in the event of any short term fi nancial disruption. The policy is reviewed on a regular basis to ensure that the target range rema in5 a ppropriate, given any significant changes impacting the organisation. At the year end, the Charitable Group had free reserves of £7,156K131 March 2022. £5,066KI which represents 2.7 months131 March 2022. 2.2 monthl of unrestricted reserves. Inspire Wellbeing Annual Report Year Ended 31 Maich 2023 29
Trustees, Report and Strategic Report Risk Management Our Risk Management Strategy To identify both strategic and corporate risks that threaten the achievement of Inspire Wellbeing's core strategic objectives, Inspire Wellbeing applies the principles of Corporate Risk Management through a comprehensive Corporate Risk Register. The core areas of the Register are developed from an assessment of Inspire Wellbeing's Strategic Corporate Plan and measured against performance. The process of effective risk management within Inspire includes a number of measures including- Data Leakage. Hacking etc. These types of threats continue to grow in complexity and understanding them is the best way to defend our organisation. We have invested. and will continue to invest, in skills. hardware and software to help us face this challenge. We work to continually monitor and update our infrastructure and are actively looking at ways of improving our security. Resource Risk: Challenges in allracling and retaining social care staff. Risk Identification The recruitment and retention of staff remains a challenge not only for the organisation but for the sector as a whole. As an organisation we carry out regular review5 and benchmarking exercise across the sector. Where necessary, subject to affordability, we have increased salarie5 to reflect the demand within the sector and we have restructured our services accordingly. A key part of our recruitment campaigns also involves advertising the non- rnonetary benefits. Risk Assessment Risk Treatment and Management Risk Monitoring and Review Risk Reporting All key risks are reviewed on a regular basis by the Executive Leadership Team and appropriate actions are taken to ensure mitigation. The register is a live document and is updated as risks increase, decrease or emerge. The Board of Trustees is responsible for seeking assurances that the organisation effectively operates systems and processes to manage risks. by receiving and reviewing reports and information from the Finance, Risk & Corporate Services Cotnmittee. We advertised widely and over the last year we have looked at creative ways of advertising, through virtual job fairs. links to schools, colleges and universities. As part of the selection process we have changed the way in which we recruit and have moved away from a competency based interview approach to values led recruitment. A5 part of our longer term strategy, we are developing a formal succession plan for key staff, and continue a full review of our terms and conditions of employment. Principal Risks and Uncertainties Financial Risk: Lack of financial resource to meet increasingl changing demands and growth. Reputational Risk: Failure to meet Regulatory standards. Financial resource management and building resewes remains a key focus across the organisation. with a collaborative approach in setting budgets a nd forecasts, and managing financial risks and opportunities. These processes ensure we have appropriate action plans in place to improve the financial performance of the organisation and lo po£itivoly profile the organisation externally_ It is essential to our organi5ation that we ensure all our services are regulatory compliant. Inspection Reports are public documents which help statutory authorities determine Service Providers, competency to deliver quality services so we consider reg ulations and standards relating to designated centres as a minimum threshold. We have robust procedures in place and promote a culture which exceeds regulatory standard5 and protect5 the rights and dignity of residents through person-centred care and SLJPPOrt. Security Risk- Data management and cyber security. Cyber security is an ever evolving threat which can take the form of Ransomware, Phishing, Malware, 30 Inspire Wellbeing Annual Report Year Ended 31 March 2023
We are Team Inspire
Trustees, Report and Strategic Report Risk Management Continued Regulatory Environment Inspire operates in a highly regulated environment. governed by. The Group and Parent Charitable Company continue to work tirelessly to secure income to finance their ongoing activities. Regulation and Quality Improvement Authority IRQIAI in Northern Ireland, Health Informalion and Qualiiy Aulhority IHIQAI in Ihe Republic of Ireland- Funds Held as Custodian Trustees on Behalf of Others The Charity holds no funds as custodian trustees on behalf of others. Northern Ireland Charity Commission and the Charity Regulator in Republic of Ireland_ Independent Auditors During 2023 the trustees tendered for the a udit services of Inspire Wellbeing. A proposal for auditors will be put to the members ofthe company at the Annual General Meeting. Charity Governance Code The Charity Governance Code is designed as a tool to support continuous improvement. The Board of Trustees has reviewed and will regularly revisit the Code's key principles to ensure the highest standards of governance. Funding Sources The Group and Parent Charitable Company have in the past and continue to fund their charitable activities through obtaining funding from a number of providers. including the Northern Ireland Health and Social Care Trusts, the Health Service Executive in the Republic of Ireland, Supporting People, the Housing Executive. the Public Health Agency and a number of agencies. However you do IL start a conversation about mental health this #TimeToTalk Day In partne15nip wi eo op Insplre Time to Talk Doy is o notionol compoign to get the notion tolking. This yeor. our chorityportnehip with Coop exponded to champion the campaign. breoking the stigma surrounding mental heolth. 32 Inspire Wellbeing Annual Report Year Ended 31 March 2023
Trustees, Report and Strategic Report Statement of Trustees, Responsibilities In Respect of the Financial Statements The Trustees Iwho are also directors of Inspire Wellbeing for the purposes of company lawl are responsible for preparing the Trustee5' Annual Report (including the Strategic Report) and the Financial Statements in accordance with applicable law and regulation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show a nd explain the charitable company s transactions and disclose with reasonable accuracy at any time the financial position of the charita ble company and the Group and enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe Charitable Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Company law requires the Trustees to prepare Fi na ncial Statements for each financial year. Under that law the Trustees have prepared the Financial Statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland- and applicable law (United Kingdom Generally Accepted Accounting Practice). The Trustees are responsible for the oversight of the maintenance and integrity of the charitable company s website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statemenls may differ from legislation in other jurisdictions. Under company law the Trustees must not approve the Fi nancial Statements unless they are satisfied that they give a true and fair view of the state of the affairs ofthe charitable company and the Group and ofthe incoming resources and application of resources, including the income and expenditure, of the Charitable Group for that period In preparing these Financial Statements, the Trustees are required to_. In so far as the Trustees are aware,. There is no relevant audit information of which the charitable company s auditors are unaware. and They have taken all the steps that they ought to have taken as Trustees in order to make themselve5 aware of any relevant audit information and to establish that the auditors are aware ofthat information. Select suitable accounting policies and then apply them consistently., Observe the methods and principles in the Statement of Recommended Practice." Accounting and Reporting by Charities120191- Make judgments and estimates that are reasonable and prudent. State whether applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the Financial Statements; and Prepare the Financial Statements on the going concern basi5 unless it is inappropriate to presume that the charitable company will continue in business. Inspire Wellbeing Annual Report Year Ended 31 Maich 2023 33
Trustees, Report and Strategic Report Going Concern In the year ended 31 March 2023. the Group made a surplus of £2,098,00012021122-. surplus of£2,612,0001 Overall, at the year end. the Group had net assets of£13,999,00012022. £11.901.0001. The Trustees consider the performance for the year to be positive. The Group and parent Charity's activities, together with factors likely to affect its future development. performance and position. are continuously reviewed by the Trustee5. This included the company s Trustees reviewing and taking a prLJdent approach to future cash flows. After this review it was clear that excess funds existed to pay all liabilities," therefore there are no material Ljncertainties related to events or conditions that may cast significant doLJbt a bout the ability of the Charity to continue as a going concern. the subsidiaries continue to require support from the parent charitable company at this time. Inspire Wellbeing is forecast to remain cash positive and has indicated its intent to support both companies for at le85t one year after the fina ncial 5t8tements are signed. Taking into consideration the above factors. the Truslees of Inspire Wellbeing are satisfied that the Group's cash flows are sufficient to enable the Group and charitable parent company to continue as a going concern and settle all liabilities as they fall due for at least the next 12 months from the date of signing of these Financial Statements. Accordingly the Group and parent Charitable Company Financial Statements have been prepared on a going concern basis. Inspire Wellbeing. the parent charitable company. provides financial supporl to two of ils wholly owned trading subsidiary undertakings, through a letter of support, that operate in line with the Inspire Wellbeing's Vision and Mission. Carecall INI) Limited and EAP Consultants Limited. The forecasts of these subsidiaries both show improvemenl. however Aidan Browne {Chairl 28 September 2023 34 Inspire Wellbeing Annual Report Year Ended 31 March 2023