STEPS TO WORK
Registered charity 1100403 · accounts filings on the Charity Commission register · also known as STEPS TO WORK (WALSALL) LIMITED, STEPS TO WORK (WALSALL) LTD
Training, personal development and employment creation
Causes: Education/training · Economic/community Development/employment · Get email alerts
Financial health, per its FY2023 accounts
The accounts state that the Group reported a net expenditure deficit of £1,024,447 for the year ended 31 March 2023, despite having a positive balance sheet position with total net assets of £2,223,754. The Trustees confirmed adequate resources for the foreseeable future, and the independent auditors found no material uncertainties regarding the charity's ability to continue as a going concern.
Automated summary of the FY2023 accounts; the evidenced findings below carry the verbatim passages.
What the accounts disclose
Related-party transaction: Payments made to Mr B Dhir, previous CEO, for Consultancy and PILON.
“During the year the Group made payments to Mr B Dhir, previous CEO of the Charity, for Consultancy and PILON totalling £19,350.” — page 53
“As a result of management charges, commercial recharges and gift aid distributions, the Company had a debtor with its subsidiary undertaking, Starting Point Recruitment Limited, at the balance sheet date of £650,591 (2022: £770,080).” — page 53
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Debtor with subsidiary undertaking Starting Point Recruitment Limited due to management charges and commercial recharges.
“During the year the Group made payments to Mr B Dhir, previous CEO of the Charity, for Consultancy and PILON totalling £19,350.” — page 53
“As a result of management charges, commercial recharges and gift aid distributions, the Company had a debtor with its subsidiary undertaking, Starting Point Recruitment Limited, at the balance sheet date of £650,591 (2022: £770,080).” — page 53
Per its FY2023 accounts as filed with the Charity Commission.
Pension scheme deficit: £575k
“The Group has an unrecognised surplus of £575,000 (2022: £Nil) in respect of its defined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future or through refunds from the plan.” — page 52
Per its FY2023 accounts as filed with the Charity Commission.
Accounts audited by MHA. Discloses 2 of 6 completeness components.
Public fundraising profile: JustGiving — Steps To Work (matched by registered charity number).
Structured financials (annual return, FY ending 31/03/2024)
Cost of raising funds
£9.2m
Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.6 months; benchmarks).
Per its annual return, largest income source: Other trading activities (77% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.
Per its annual return, cost of raising funds: 81.4% of total income — above the 90th percentile for charities its size (median 3.8%) (benchmarks).
- Amy Deakinchair
- Dr Richard William Fallon
- Lakhbir Singh
Trustee list from the Charity Commission register (current, not historical).
Operates in: Dudley · Sandwell · Staffordshire · Walsall · Wolverhampton
Income and spending
Common questions
Is STEPS TO WORK financially healthy?
Per its FY2023 accounts: The accounts state that the Group reported a net expenditure deficit of £1,024,447 for the year ended 31 March 2023, despite having a positive balance sheet position with total net assets of £2,223,754. The Trustees confirmed adequate resources for the foreseeable future, and the independent auditors found no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2023 accounts were audited by MHA.
Government & lottery funding
Grants to this charity published as open data by government and lottery funders (360Giving).
Funders of similar charities
Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.
Charities like this
Semantically similar by activities and financial character, from our analysed corpus. Compare with HEREFORDSHIRE AND WORCESTERSHIRE GROUP TRAINING ASSOCIATION LIMITED.
Side by side with its peers
Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.