Sandwell Homeless and Resettlement Project Limited Charity Accounts

SANDWELL HOMELESS AND RESETTLEMENT PROJECT LIMITED - Company Information

24 false false false false false true true false false false false false true true No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021_Charity xbrli:pure xbrli:shares iso4217:GBP 01705859 2021-04-01 2022-03-31 01705859 2022-03-31 01705859 2021-03-31 01705859 2020-04-01 2021-03-31 01705859 2021-03-31 01705859 2020-03-31 01705859 core:PlantMachinery 2021-04-01 2022-03-31 01705859 core:FurnitureFittings 2021-04-01 2022-03-31 01705859 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 01705859 char:Trustee2 2021-04-01 2022-03-31 01705859 char:Trustee3 2021-04-01 2022-03-31 01705859 char:Trustee6 2021-04-01 2022-03-31 01705859 char:Trustee7 2021-04-01 2022-03-31 01705859 char:Trustee8 2021-04-01 2022-03-31 01705859 char:Trustee9 2021-04-01 2022-03-31 01705859 char:Trustee11 2021-04-01 2022-03-31 01705859 char:Trustee12 2021-04-01 2022-03-31 01705859 char:Trustee13 2021-04-01 2022-03-31 01705859 char:Trustee14 2021-04-01 2022-03-31 01705859 char:Trustee9 2022-03-31 01705859 char:Trustee11 2022-03-31 01705859 char:Trustee12 2022-03-31 01705859 char:Trustee13 2022-03-31 01705859 char:Trustee2 2022-03-31 01705859 char:Trustee7 2022-03-31 01705859 char:Trustee8 2022-03-31 01705859 char:TotalUnrestrictedFunds 2021-03-31 01705859 char:TotalRestrictedIncomeFunds 2021-03-31 01705859 char:TotalUnrestrictedFunds 2022-03-31 01705859 char:TotalRestrictedIncomeFunds 2022-03-31 01705859 char:TotalRestrictedIncomeFunds 2021-03-31 01705859 char:RevaluationReserveUnrestricted 2022-03-31 01705859 char:RevaluationReserveUnrestricted 2021-03-31 01705859 char:TotalUnrestrictedFunds 2021-03-31 01705859 char:TotalUnrestrictedFunds 2021-04-01 2022-03-31 01705859 char:TotalRestrictedIncomeFunds 2021-04-01 2022-03-31 01705859 char:TotalUnrestrictedFunds 2020-04-01 2021-03-31 01705859 char:TotalRestrictedIncomeFunds 2020-04-01 2021-03-31 01705859 char:Activity1 char:TotalUnrestrictedFunds 2021-04-01 2022-03-31 01705859 char:Activity1 char:TotalRestrictedIncomeFunds 2021-04-01 2022-03-31 01705859 char:Activity1 2021-04-01 2022-03-31 01705859 char:Activity1 2020-04-01 2021-03-31 01705859 char:Activity1 char:TotalUnrestrictedFunds 2020-04-01 2021-03-31 01705859 char:Activity1 char:TotalRestrictedIncomeFunds 2020-04-01 2021-03-31 01705859 core:WithinOneYear 2022-03-31 01705859 core:WithinOneYear 2021-03-31 01705859 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 01705859 core:PlantMachinery 2021-03-31 01705859 core:FurnitureFittings 2021-03-31 01705859 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 01705859 core:PlantMachinery 2022-03-31 01705859 core:FurnitureFittings 2022-03-31 01705859 core:LandBuildings core:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 01705859 core:AfterOneYear 2022-03-31 01705859 core:BetweenOneFiveYears 2022-03-31 01705859 core:BetweenOneFiveYears 2021-03-31 01705859 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 01705859 core:PlantMachinery 2021-03-31 01705859 core:FurnitureFittings 2021-03-31 01705859 bus:FRS102 2021-04-01 2022-03-31 01705859 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 01705859 bus:FullAccounts 2021-04-01 2022-03-31 01705859 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 01705859 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01705859 core:AllAssociates 2021-04-01 2022-03-31

COMPANY REGISTRATION NUMBER: 01705859

CHARITY REGISTRATION NUMBER: 514302

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Unaudited Financial Statements

Housing registration number: 5054

31 March 2022

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2022

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	10

Statement of financial activities (including income and expenditure account)	12

Statement of financial position	13

Statement of cash flows	15

Notes to the financial statements	16

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022 .

Reference and administrative details

Registered charity name	Sandwell Homeless and Resettlement Project Limited

Charity registration number	514302

Company registration number	01705859

Principal office and registered	109 St. Pauls Road
office	Smethwick
	B66 1EY
	England

The trustees

	Mr W H Hughes	(Resigned 11 May 2021)
	Mrs P M Merrett	(Resigned 14 May 2021)
	Mr M R Watkins
	Ms K Brooks
	Ms S Powell	(Resigned 17 November 2021)
	Mr N Burton	(Resigned 1 February 2022)

	Ms B Foster	(Appointed 15 September 2021)
	Ms K Perry	(Appointed 28 July 2021)
	Ms N Mozlu	(Appointed 17 November 2021)
	Mr S Yates	(Appointed 30 March 2022)

Independent examiner	Mr Christopher Goldie BSc ACA
	Chartwells House
	1 St Josephs Court
	Trindle Road
	Dudley
	West Midlands
	DY2 7AU

Structure, governance and management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 11th January 1983 and registered as a charity on 14th October 1983. The association was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and Appointment to the Board

The directors of the company are also charity trustees for the purpose of charity law and under the company's Articles are known as Board Members. Under the requirements of the Memorandum and the Articles of Association the Board are elected to serve for a period of three years after which they may be re-elected at the next Annual General Meeting.

Sandwell is a very diverse area with a wide range of cultures and religions being represented. The Board seeks to ensure that the needs of service users are appropriately reflected through the diversity of the trustees elected to the board.

Trustee Induction and Training

New Board Members are invited to meet the board in order that they may get a feel for the organisation and to understand the obligations of becoming a Board Member. After their attendance at this meeting if they wish to pursue their application further applicants are invited to visit the projects to meet staff and beneficiaries. Following this new Trustees may be appointed by the Board and will then be provided with further opportunities for induction and training. Trustees contribute their time and skills at Board Meetings and with other projects requiring trustee involvement and calling upon their particular expertise.

Members of the Board

During the year a number of Board Members joined and resigned. Penelope Merrett, director since December 2016, William Hughes, director since June 2009, Sophia Powell, director since November 2018 and Nick Burton director since January 2019 resigned. The remaining members of the Board wish to thank these directors for their contribution over the preceding years.

Meanwhile Karen Perry, Bianca Foster, Nasrin Mozlu and Steve Yates all joined the board as new trustees / directors.

Board members as at 31st March 2022;

- Michael Roland Watkins, director since March 1983

- Bianca Foster, director since 15th September 2021

- Nasrin Mozlu director since 17th November 2021

- Steve Yates, director since 30th March 2022

- Karen Perry, director since 28th July 2021

- Kathryn Brooks (Chair), director since November 2018

The position of company secretary was vacant at year end.

Risk Management

The Board has drawn up a risk register which provides details of actions to be taken to reduce risk. The risk register is reviewed and updated by the Board regularly. The charity also purchases a range of insurance policies.

Organisational Structure

Sandwell Homeless and Resettlement Project has a Board of up to 10 members who meet every two months and who are responsible for the strategic direction and policy of the charity. SHARP embraces the Equality Act 2010 and recruits Board members from any background and with any of the 9 protected characteristics described within the Act. At present the Board has 6 members.

Day-to-day responsibility for the provision of operations, services and financial probity is delegated by the Board to the Senior Officers employed by SHARP. These senior officers are responsible for ensuring that the charity delivers the services specified and that the charity meets its obligations and aspirations.

At year end a Head of Care and Community and Business Manager were in place, supported by two project managers, one for The Gap project and one for The Gables and Community Support.

Objectives and activities

Objectives

The Charity's objects and principal activities are to:

Care for persons in need, who are homeless or who by reason of adverse circumstances are in need of help in acquiring a settled way of life through the establishment of residential accommodation and to assist these persons so as to develop their physical, mental and spiritual capacities that they may develop full maturity as responsible individuals and members of society and that their conditions of life may be improved.

The main objectives and activities for the year continue to focus upon helping people who are homeless to find appropriate accommodation, either within SHARP or elsewhere, offer them support and advice to enable them to manage their accommodation and to enjoy a reasonable quality of life. SHARP is a registered social landlord.

The strategies employed to assist the charity to meet these objectives include, but not exhaustive, the following;

- Provide accommodation of good quality for homeless people in Sandwell

- Provide a service for homeless people in Sandwell and signposting to other agencies as appropriate giving information on vacancies and support where available in Sandwell

- Provide the support necessary to enable service users to manage their own accommodation successfully

- Involve service users in the development of their personal support plans, which include attainable targets, regular reviews and flexibility to enable and embrace change

- Train service users to use the internet to allow them to access a number of online activities such as bidding for a home, finding a job and registering for universal credit

- Liaise with local housing providers concerning housing and other needs of service users

- Research the housing needs of homeless people

- Participate proactively with local initiatives including Sandwell Council of Voluntary Organisations, and Sandwell Metropolitan Borough Council

Activities

Crown House

Crown House, based at Green Street, Oldbury, West Midlands, B69 4JP offered short, medium and long-term accommodation and support for up to 18 single homeless people. Crown House was owned by a private landlord who sold the property during the year and issued a new lease to a new provider, hence SHARP ceased to operate this provision.

The GAP Supported Housing Project

The GAP project consists of 30 furnished one bedroom flats at Selby House, Wallace Close, Oldbury, West Midlands, B69 1HW. GAP offers accommodation and support to teenage parents and their children. The property is owned by Sandwell Metropolitan Borough Council and managed through a contractual arrangement by SHARP.

Community Floating Support & Spot Purchasing

SHARP provides floating support through a contract with the council and specialist support through spot purchasing. This supports people with complex needs and who are hard to reach to continue to live well in their own homes.

247 & 247a Barclay Road, Smethwick

Barclay Road offers accommodation and support through two self-contained apartments. The freehold of Barclay Road is owned by SHARP.

The Gables

During the year 2020/2021 SHARP completed the refurbishment of The Gables. This former care home, purchased by SHARP in 2019 was converted to a 19 bed direct access hostel and welcomed its first guests on 21st December 2020 under Sandwell Metropolitan Borough Council's (SMBC) Severe Winter Emergency Provisions (SWEP).

Achievements and performance

Crown House

Crown House has been sold by the Charity during the year and the operation has now ceased.

The GAP supported housing project

We have been successful in securing funding for another year from BBC Children In Need for our befriender, which has been a great asset and support for our young people, especially through the COVID period. In March we supported Nacro by providing work experience for young people on their painting and decorating course with a group of young people supervised by trainers painting our wellbeing hub. We have supported 26 young families. SHARP has been in conversation with SMBC to consider together widening the criteria for access to The Gap to enable us to offer services to more people.

247 & 247a Barclay Road, Smethwick

We have provided outreach support to our residents and successfully fundraised for new boilers to be fitted in both flats. Residents receive community support to help them to live independently in the community.

The Gables

During the year 2021/2022 the provision at the Gables was recognised as Supported Exempt Accommodation and housing benefit was agreed for residents who are referred due to their housing and support needs. We have raised funds and converted one of the rooms into an IT suite thus reducing the number of bedrooms to 18 but offering more opportunities to enhance and develop the skills of our residents. We have also enhanced our CCTV system via fundraising as well as maintaining repairs which have included a a new roof for part of the GABLES.

Financial review

Responsibilities of the Board

The Board is responsible for maintaining proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company to enable them to ensure that the financial statements comply with the Companies Act 1985. The Board is also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and any other irregularities.

Investment Policy

Under the Memorandum and Articles of Association, the charity has the power to invest in the interest of the charity and/or its beneficiaries. The Board, having regard to the liquidity requirements of the organisation and to the reserves policy, have operated a policy of keeping available funds in an interest bearing deposit account,albeit with low reserves and low interest rates this does not currently generate any significant income.

Reserves Policy

Having examined the circumstances facing the charity and its future income and expenditure patterns the trustees have established that a prudent level of reserves for the charity to hold would be equivalent to three month's salary costs (including tax and NI costs) plus a sum to cover exceptional costs related to closure / transfer of the charity - as at April 2022 the former figure would amount to £114,000 whilst the latter figure was set at £35,000. At year end our reserves were still below this level following the Gables refurbishment, but were beginning to rebuild. SHARP will continue to seek to gradually rebuild its reserves over the next two years in order to return to this level.

Review of the year April 2021 to March 2022

During the year two major projects were fully establishing operations at the Gables, including securing housing benefit, and handing over Crown House to the new leaseholders

We appointed a new business manager who has reviewed and stabilised our finances and begun to re-build our reserves. We have also been able to implement our ambition to be a real living wage employer

We held an awayday to look at our strategic direction and forward planning.

Plans for 2021-22

We have concluded that we will not pursue CQC registration but will focus more on end-to-end provision for those who are homeless or at risk of homelessness and during 2022 / 2023 we will develop these plans further

We will also focus on ensuring higher levels of occupancy within our projects and developing further the interventions on offer. We will also review our services and buildings to ensure these both continue to meet identified need.

Accounts

Company law requires the Board to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing those financial statements, the Board follows best practice by;

- Selecting suitable accounting policies and then applying them consistently

- Making judgements and estimates that are prudent and reasonable: and

- Preparing the financial statements on a going concern basis unless it is inappropriate to assume that the company will continue on that basis

The Board is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Board

Members of the Board, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

In accordance with company law, as the company's Directors, we certify that:

- So far as we are aware, there is no relevant information of which the company's accountants are unaware; and

- As Directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the charitable company's accountants are aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 21 September 2022 and signed on behalf of the board of trustees by:

Ms K Brooks

Trustee

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Sandwell Homeless and Resettlement Project Limited

Year ended 31 March 2022

I report to the trustees on my examination of the financial statements of Sandwell Homeless and Resettlement Project Limited ('the charity') for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Christopher Goldie BSc ACA Independent Examiner

Chartwells House 1 St Josephs Court Trindle Road Dudley West Midlands DY2 7AU

21 September 2022

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2022

	2022			2021
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income

Donations and grants	5	88,970	31,475	120,445	197,249
Charitable activities	6	605,401	–	605,401	499,296
Investment income	7	2	–	2	16
		---------	-------	---------	---------
Total income		694,373	31,475	725,848	696,561
		---------	-------	---------	---------

Expenditure

Expenditure on raising funds:

	Costs of raising income	8	604,785	38,377	643,162	646,695
			---------	-------	---------	---------
Total expenditure			604,785	38,377	643,162	646,695
			---------	-------	---------	---------

	---------	-------	---------	---------
Net income	89,588	( 6,902)	82,686	49,866
	---------	-------	---------	---------

Transfers between funds	(92,471)	92,471	–	–

Other recognised gains and losses

Other recognised gains/(losses)	–	( 92,471)	( 92,471)	( 167,656)
	---------	-------	---------	---------
Net movement in funds	( 2,883)	( 6,902)	( 9,785)	( 117,790)

Reconciliation of funds

Total funds brought forward	179,939	859,645	1,039,584	1,157,374
	---------	---------	-----------	-----------
Total funds carried forward	177,056	852,743	1,029,799	1,039,584
	---------	---------	-----------	-----------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

Fixed assets

Tangible fixed assets	13	1,028,183	1,036,714

Current assets

Debtors	14	18,455	43,575
Cash at bank and in hand		160,085	47,402
		---------	-------
		178,540	90,977

Creditors: amounts falling due within one year	15	12,929	88,107
		---------	-------
Net current assets		165,611	2,870
		-----------	-----------
Total assets less current liabilities		1,193,794	1,039,584

Creditors: amounts falling due after more than one year	16	163,995	–
		-----------	-----------
Net assets		1,029,799	1,039,584
		-----------	-----------

Funds of the charity

Restricted funds	852,743	859,645

Unrestricted funds:

	Revaluation reserve		93,839	93,839
	Other unrestricted income funds		83,217	86,100
			---------	---------
Total unrestricted funds			177,056	179,939
			-----------	-----------
Total charity funds		18	1,029,799	1,039,584
			-----------	-----------

For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

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

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of trustees and authorised for issue on 21 September 2022 , and are signed on behalf of the board by:

Ms K Brooks

Trustee

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2022

	2022	2021
	£	£

Cash flows from operating activities

Net income	82,686	49,866

Adjustments for:
Depreciation of tangible fixed assets	9,913	5,158
Other interest receivable and similar income	( 2)	( 16)
Interest payable and similar charges	3,153	–
Accrued expenses/(income)	12,714	( 16,689)

Changes in:
Trade and other debtors	( 1,077)	643
Trade and other creditors	( 65,470)	60,024
	-------	-------
Cash generated from operations	41,917	98,986

Interest paid	( 3,153)	–
Interest received	2	16
	-------	-------
Net cash from operating activities	38,766	99,002
	-------	-------

Cash flows from investing activities

Purchase of tangible assets	( 93,853)	( 283,525)
	-------	---------
Net cash used in investing activities	( 93,853)	( 283,525)
	-------	---------

Cash flows from financing activities

Proceeds from borrowings	167,770	–
	---------	---------
Net cash from financing activities	167,770	–
	---------	---------

Net increase/(decrease) in cash and cash equivalents	112,683	( 184,523)
Cash and cash equivalents at beginning of year	47,402	231,925
	---------	---------
Cash and cash equivalents at end of year	160,085	47,402
	---------	---------

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 109 St. Pauls Road, Smethwick, B66 1EY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. The property was valued on 10th June 2021 by Bruton Knowles Property Consultants, a qualified member of the Royal Institution of Chartered Surveyors (RCIS).

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line

No depreciation has been charged on freehold property as the Trustees believe that the property will be maintained to a level where the value of the property is not expected to diminish. The property will be valued with sufficient regularity to ensure that the value reported in the financial statements is not materially different to its actual market value.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The charity is a company limited by guarantee and consequently does not have share capital. Each member has undertaken to contribute £10 to the assets of the company to meet its liabilities if called upon to do so.

5. Donations and grants

Unrestricted Funds	Restricted Funds	Total Funds 2022
£	£	£

Donations

Unrestricted donations	15,160	–	15,160
Restricted donations - Bauer Radio	–	–	–
Restricted donations - Gables Lottery	–	–	–
Restricted donations - Heart of England	–	–	–
Restricted donations - Lloyds Bank	–	–	–
Restricted donations - The Clothworker Foundation	–	5,400	5,400
Restricted donations - Arnold Clark Foundation	–	1,000	1,000
Restricted donations - The Blakmore Foundation	–	147	147
Restricted donations - The George Henry C GHCC	–	2,000	2,000
Restricted donations - Cheshire Community CCF	–	5,000	5,000
Restricted donations - Welcome boxes	–	–	–
Restricted donations - Leeds Building Society	–	1,000	1,000
Restricted donations - The Percy Bilton Charity	–	500	500
Restricted donations - The Rowlands Trust	–	874	874
Restricted donations - Baron Davenports Charity	–	–	–
Restricted donations - BBC Children in Need	–	8,039	8,039
Restricted donations - Albert Hunt Trust	–	–	–
Restricted donations - Eveson Trust	–	–	–
Restricted donations - Roger & Douglas	–	5,000	5,000
Restricted donations - Michael Marsh Trust	–	1,800	1,800
Restricted donations - GJW Turner Trust	–	–	–
Restricted donations - Cole Charitable Trust - Gables Beds	–	–	–
Restricted donations - DPD Trust - Weston Trip	–	–	–
Restricted donations - The Morrison Foundation Grant	–	–	–
Restricted donations - DPD Group - Gap Project	–	715	715
Restricted donations - BHSF Medical Charity	–	–	–

Grants

SMBC core grant	73,810	–	73,810
	-------	-------	---------
	88,970	31,475	120,445
	-------	-------	---------

Unrestricted Funds	Restricted Funds	Total Funds 2021
£	£	£

Donations

Unrestricted donations	–	–	–
Restricted donations - Bauer Radio	–	1,645	1,645
Restricted donations - Gables Lottery	–	49,383	49,383
Restricted donations - Heart of England	–	10,000	10,000
Restricted donations - Lloyds Bank	–	33,000	33,000
Restricted donations - The Clothworker Foundation	–	–	–
Restricted donations - Arnold Clark Foundation	–	–	–
Restricted donations - The Blakmore Foundation	–	–	–
Restricted donations - The George Henry C GHCC	–	–	–
Restricted donations - Cheshire Community CCF	–	–	–
Restricted donations - Welcome boxes	–	1,000	1,000
Restricted donations - Leeds Building Society	–	–	–
Restricted donations - The Percy Bilton Charity	–	–	–
Restricted donations - The Rowlands Trust	–	3,223	3,223
Restricted donations - Baron Davenports Charity	–	543	543
Restricted donations - BBC Children in Need	–	–	–
Restricted donations - Albert Hunt Trust	–	5,000	5,000
Restricted donations - Eveson Trust	–	10,529	10,529
Restricted donations - Roger & Douglas	–	–	–
Restricted donations - Michael Marsh Trust	–	–	–
Restricted donations - GJW Turner Trust	–	2,000	2,000
Restricted donations - Cole Charitable Trust - Gables Beds	–	1,500	1,500
Restricted donations - DPD Trust - Weston Trip	–	2,000	2,000
Restricted donations - The Morrison Foundation Grant	–	1,200	1,200
Restricted donations - DPD Group - Gap Project	–	1,400	1,400
Restricted donations - BHSF Medical Charity	–	1,016	1,016

Grants

SMBC core grant	73,810	–	73,810
	-------	---------	---------
	73,810	123,439	197,249
	-------	---------	---------

6. Charitable activities

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Crown house	115,598	115,598	158,407	158,407
GAP project	210,405	210,405	266,621	266,621
Community support	83,066	83,066	15,782	15,782
Gables	196,332	196,332	58,486	58,486
	---------	---------	---------	---------
	605,401	605,401	499,296	499,296
	---------	---------	---------	---------

7. Investment income

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Bank interest receivable	2	2	16	16
	----	----	----	----

8. Costs of raising income

	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Charitable fund raising costs	11,069	–	11,069
Wages and salaries	382,912	17,229	400,141
Employer's NIC	24,361	–	24,361
Pension costs	4,819	–	4,819
Insurance	7,718	–	7,718
Other motor/travel costs	3,307	–	3,307
Legal and professional fees	14,710	–	14,710
Information technology	14,950	–	14,950
Other office costs	17,363	–	17,363
Depreciation	2,978	6,935	9,913
Bank charges	515	–	515
Bank loan interest	3,153	–	3,153
Other support costs	5,628	3,344	8,972
Training	1,146	–	1,146
Accountancy fees	4,440	–	4,440
Premises expenses	105,716	10,869	116,585
	---------	-------	---------
	604,785	38,377	643,162
	---------	-------	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2021
	£	£	£
Charitable fund raising costs	11,318	–	11,318
Wages and salaries	351,580	7,755	359,336
Employer's NIC	15,562	–	15,562
Pension costs	4,932	–	4,932
Insurance	8,412	–	8,412
Other motor/travel costs	2,264	–	2,264
Legal and professional fees	9,264	14,569	23,833
Information technology	13,164	–	13,164
Other office costs	14,867	1,575	16,442
Depreciation	2,240	2,918	5,158
Bank charges	291	–	291
Bank loan interest	–	–	–
Other support costs	3,030	1,715	4,745
Training	379	1,925	2,304
Accountancy fees	4,080	–	4,080
Premises expenses	146,953	27,902	174,854
	---------	-------	---------
	588,336	58,359	646,695
	---------	-------	---------

9. Net income

Net income is stated after charging/(crediting):

	2022	2021
	£	£
Depreciation of tangible fixed assets	9,913	5,158
Foreign exchange differences	515	291
Operating lease rentals - land & buildings	54,099	95,760
Operating lease rentals - other	4,465	3,298
	-------	-------

10. Independent examination fees

	2022	2021
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	4,440	4,080
	------	------

11. Staff costs

The average head count of employees during the year was 24 (2021: 20 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2022	2021
	No.	No.
Chief executive officer	1	1
Business manager	1	–
Head of care and community	1	1
Central admin	1	1
GAP project	9	8
Crown house	1	1
Community support	4	3
The Gables	6	5
	----	----
	24	20
	----	----

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

Key Management Personnel

The total remuneration paid to key management personnel in the year amounted to a total of £63,510 (2021: £68,674).

12. Trustee remuneration and expenses

None of the trustees received a remuneration. No other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred

13. Tangible fixed assets

	Freehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2021	995,000	72,646	34,675	1,102,321
Additions	92,471	1,382	–	93,853
Revaluations	( 92,471)	–	–	( 92,471)
	---------	-------	-------	-----------
At 31 March 2022	995,000	74,028	34,675	1,103,703
	---------	-------	-------	-----------
Depreciation
At 1 April 2021	–	62,689	2,918	65,607
Charge for the year	–	2,978	6,935	9,913
	---------	-------	-------	-----------
At 31 March 2022	–	65,667	9,853	75,520
	---------	-------	-------	-----------
Carrying amount
At 31 March 2022	995,000	8,361	24,822	1,028,183
	---------	-------	-------	-----------
At 31 March 2021	995,000	9,957	31,757	1,036,714
	---------	-------	-------	-----------

Freehold property is used for the purpose of social housing. Freehold property was valued on 10 June 2021 by Bruton Knowles Property Consultants, a qualified member of the Royal Institution of Chartered Surveyors (RCIS). The basis on which the valuation was made was depreciated replacement cost.

Tangible fixed assets held at valuation

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 March 2022
Aggregate cost	526,289
Aggregate depreciation	–
	---------
Carrying value	526,289
	---------

At 31 March 2021
Aggregate cost	433,818
Aggregate depreciation	–
	---------
Carrying value	433,818
	---------

14. Debtors

	2022	2021
	£	£
Prepayments and accrued income	18,455	43,575
	-------	-------

15. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	3,775	–
Trade creditors	5,074	23,409
Accruals and deferred income	4,080	17,563
Social security and other taxes	–	42,428
Other creditors	–	4,707
	-------	-------
	12,929	88,107
	-------	-------

16. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	163,995	–
	---------	----

17. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 4,819 (2021: £ 4,932 ).

18. Analysis of charitable funds

Unrestricted funds

	At 1 Apr 2021	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2022
	£	£	£	£	£	£
General funds	86,100	694,373	(604,785)	(92,471)	–	83,217
Revaluation reserve	93,839	–	–	–	–	93,839
	---------	---------	---------	-------	----	---------
	179,939	694,373	(604,785)	(92,471)	–	177,056
	---------	---------	---------	-------	----	---------

	At 1 Apr 2020	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2021
	£	£	£	£	£	£
General funds	265,071	573,122	(588,336)	(163,757)	–	86,100
Revaluation reserve	93,839	–	–	–	–	93,839
	---------	---------	---------	---------	----	---------
	358,910	573,122	(588,336)	(163,757)	–	179,939
	---------	---------	---------	---------	----	---------

Restricted funds

	At 1 Apr 2021	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2022
	£	£	£	£	£	£
Welcome Boxes	1,045	–	(256)	–	–	789
The Rowlands Trust	984	874	(874)	–	–	984
Sheldon Trust	–	–	–	–	–	–
Baron Davenports Charity	543	–	–	–	–	543
The DMF Ellis Charitable Trust	–	–	–	–	–	–
Gables furniture suites	–	–	–	–	–	–
The Woodward Charitable Trust	–	–	–	–	–	–
Edgar E Lawley Foundation	–	–	–	–	–	–
BBC Children in Need	617	8,039	(7,761)	–	–	895
Albert Hunt Trust	–	–	–	–	–	–
Eveson Trust	–	–	–	–	–	–
Roger & Douglas	–	5,000	(4,500)	–	–	500

Edward Cadbury	–	–	–	–	–	–
CB & HH Taylor	–	–	–	–	–	–
WA Cadbury	–	–	–	–	–	–
Bernard Piggott	–	–	–	–	–	–
The Grimmett Trust	–	–	–	–	–	–
Michael Marsh Trust	–	1,800	(468)	–	–	1,332
Cole Charitable Trust - Gable Beds	–	–	–	–	–	–
DPD Trust - Weston Trip	1,685	–	(975)	–	–	710
The Morrison Foundation Grant	–	–	–	–	–	–
DPD Group - GAP Project	1,400	715	(110)	–	–	2,005
BHSF Medical Charity	11	–	(11)	–	–	–
Bauer Radio	1,645	–	(955)	–	–	690
Gables Lottery	–	–	–	–	–	–
Heart of England	10,000	–	(1,325)	–	–	8,675
Lloyds Bank	9,959	–	(8,554)	–	–	1,405
GJW Turner Trust	–	–	–	–	–	–
The Clothworker Foundation	–	5,400	(5,375)	–	–	25
Arnold Clark Automotive	–	1,000	(131)	–	–	869
The Blakmore Foundation	–	147	(147)	–	–	–
The George Henry C GHCC	–	2,000	–	–	–	2,000
Cheshire Community CCF	–	5,000	–	–	–	5,000
Leeds Building Society	–	1,000	–	–	–	1,000
The Percy Bilton Charity	–	500	–	–	–	500
The Gables	364,413	–	(6,935)	92,471	–	449,949
The Gables Revaluation	467,343	–	–	–	(92,471)	374,872
	---------	-------	-------	-------	-------	---------
	859,645	31,475	(38,377)	92,471	(92,471)	852,743
	---------	-------	-------	-------	-------	---------

	At 1 Apr 2020	Income	Expenditure	Transfers	Gains and losses	At 31 Mar 2021
	£	£	£	£	£	£
Welcome Boxes	45	1,000	–	–	–	1,045
The Rowlands Trust	984	3,223	–	(3,223)	–	984
Sheldon Trust	10,000	–	–	(10,000)	–	–
Baron Davenports Charity	500	543	(500)	–	–	543
The DMF Ellis Charitable Trust	2,000	–	–	(2,000)	–	–
Gables furniture suites	3,000	–	–	(3,000)	–	–
The Woodward Charitable Trust	186	–	–	(186)	–	–
Edgar E Lawley Foundation	1,500	–	–	(1,500)	–	–
BBC Children in Need	8,042	–	(7,425)	–	–	617
Albert Hunt Trust	5,000	5,000	–	(10,000)	–	–

Eveson Trust	–	10,529	–	(10,529)	–	–
Roger & Douglas	5,000	–	–	(5,000)	–	–
Edward Cadbury	11,000	–	–	(11,000)	–	–
CB & HH Taylor	2,000	–	–	(2,000)	–	–
WA Cadbury	20,000	–	–	(20,000)	–	–
Bernard Piggott	1,800	–	–	(1,800)	–	–
The Grimmett Trust	1,800	–	–	(1,800)	–	–
Michael Marsh Trust	2,000	–	–	(2,000)	–	–
Cole Charitable Trust - Gable Beds	–	1,500	–	(1,500)	–	–
DPD Trust - Weston Trip	–	2,000	(315)	–	–	1,685
The Morrison Foundation Grant	–	1,200	–	(1,200)	–	–
DPD Group - GAP Project	–	1,400	–	–	–	1,400
BHSF Medical Charity	–	1,016	(1,005)	–	–	11
Bauer Radio	–	1,645	–	–	–	1,645
Gables Lottery	–	49,383	–	(49,383)	–	–
Heart of England	–	10,000	–	–	–	10,000
Lloyds Bank	–	33,000	(23,041)	–	–	9,959
GJW Turner Trust	–	2,000	–	(2,000)	–	–
The Clothworker Foundation	–	–	–	–	–	–
Arnold Clark Automotive	–	–	–	–	–	–
The Blakmore Foundation	–	–	–	–	–	–
The George Henry C GHCC	–	–	–	–	–	–
Cheshire Community CCF	–	–	–	–	–	–
Leeds Building Society	–	–	–	–	–	–
The Percy Bilton Charity	–	–	–	–	–	–
The Gables	88,608	–	(26,073)	301,878	–	364,413
The Gables Revaluation	634,999	–	–	–	(167,656)	467,343
	---------	---------	-------	---------	---------	---------
	798,464	123,439	(58,359)	163,757	(167,656)	859,645
	---------	---------	-------	---------	---------	---------

19. Analysis of net assets between funds

The transfer of £92,471 (2021: £163,757) from Unrestricted Funds to Restricted Funds represents the expenditure incurred on The Gables during the year.

	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Tangible fixed assets	203,361	824,822	1,028,183
Current assets	150,619	27,921	178,540
Creditors less than 1 year	(12,929)	–	(12,929)
Creditors greater than 1 year	(163,995)	–	(163,995)
	---------	---------	-----------
Net assets	177,056	852,743	1,029,799
	---------	---------	-----------

	Unrestricted Funds	Restricted Funds	Total Funds 2021
	£	£	£
Tangible fixed assets	204,958	831,756	1,036,714
Current assets	63,090	27,889	90,979
Creditors less than 1 year	(88,109)	–	(88,109)
Creditors greater than 1 year	–	–	–
	---------	---------	-----------
Net assets	179,939	859,645	1,039,584
	---------	---------	-----------

20. Social housing units

The following units of Social Housing were held by the charitable company during the year:

	2022	2021
Supported Housing	51	69

The decrease in Social Housing units held at the year end is due to the cessation of renting Crown House during the year. Crown House has 18 Social Housing units.

21. Social housing rent arrears

There were no social housing rentals in arrears as at 31 March 2022

22. Recycled capital grant fund

There were no transactions during the year to be recognised within the Recycled Capital Grant Fund.

23. Disposal proceeds fund

There were no transactions during the year to be recognised within the Disposal Proceeds Fund.

24. Analysis of changes in net debt

	At 1 Apr 2021	Cash flows	At 31 Mar 2022
	£	£	£
Cash at bank and in hand	47,402	112,683	160,085
Debt due within one year	–	(3,775)	(3,775)
Debt due after one year	–	(163,995)	(163,995)
	-------	---------	---------
	47,402	( 55,087)	( 7,685)
	-------	---------	---------

Sandwell Homeless and Resettlement Project Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Not later than 1 year	4,215	4,289
Later than 1 year and not later than 5 years	6,323	9,806
	-------	-------
	10,538	14,095
	-------	-------

26. Contingencies

On 11 November 2019, Sandwell Homeless and Resettlement Project Limited acquired the freehold property known as The Gables for £1. The transfer of the property also included the liability of an outstanding social housing grant of £552,846. The social housing grant is only repayable if the specific conditions attached to the grant are breached.

27. Related parties

There were no related party transactions for the year end 31 March 2022.