Fortunatus Housing Solutions - Charities report - 22.2

REGISTERED COMPANY NUMBER: 07744211 (England and Wales)

REGISTERED CHARITY NUMBER: 1144246

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

FORTUNATUS HOUSING SOLUTIONS

Page

Report of the Trustees

1

to

8

Report of the Independent Auditors

9

to

11

Statement of Financial Activities

12

Balance Sheet

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

to

23

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objective is to house vulnerable adults in the community, whilst providing them with weekly support to manage their bills and any other housing related issues.

The charity aims to do this with the aid of local government funding and any other fund-raising activities that it sees fit.

In the short term, the charity's aims are to continue to house 165 vulnerable adults in the community successfully following a difficult period over the last couple of years caused by the global pandemic of Covid 19, with ramifications of this continuing in to 2022.

The charity carried out a review of it charges and restructured its charging formula in April 2022 and this new charging formula and increases were accepted by the local authorites Housing Benefit departments that the charity works within. Based on 170 tenants, this generated a further approximate £200,000 per year income (at year end August 2022, there were less than 170 tenants) which enabled a robust budget to be written in September 2022 to incorporate rising costs within the charity.

In the longer term, the charity's main objective is to maintain stability for its tenants and ensure that the charity is always working within the remits of the housing benefit regulations.

The charity's managing director continues to play a key part in the current reform of supported housing funding that is currently being legislated in parliament and in her position as President of the lobbying organisation the IRRV (Institute of Rating, Rents and Valuation) is again speaking at several prominent conferences in the coming year about the challenges faced in this sector in the coming year. In 2022, the charity were the winners of the IRRV's national social inclusion award at their Annual Conference Performance Awards.

Significant activities

The charity's main activity is the sourcing of individual properties, within respectable areas of the community, which enable successful independent living for its tenants. Once these properties are sourced, the charity's weekly activity includes the support of these individuals in their home.

The charity's tenants are vulnerable adults, referred to the charity by local authorities and NHS trusts for specialist housing.

Working with local authorities and NHS trusts to receive referrals for housing that meet the criteria required for funding, ensures that there is continuity of funding and a best practice method adopted.

The main aim and therefore activity of the charity is that each vulnerable adult is housed for life and often for the first time stays in 1 property for longer than 6 months. This is done by a method of wrap around support available 24 hours a day and a methodology of funding whatever is needed to make that tenancy a success. This includes a fully furnished home, support with bills, replaced furnishings if damaged due to poor mental health, books, specific beds, bedding etc - the list is unlimited.

The majority of the charity's tenants have been housed with the charity for 5 years or more, a very quantifiable success for the individuals housed and for the savings to the wider community.

The charity's achievements are therefore measured by the success of vulnerable adults living with them for longer than 6 months and the money saved therein to the public purse. See Measuring of Success for how these achievements are recorded.

The charity's measure of success is with regards to the meeting of its objectives, as follows:

* Housing vulnerable adults for a period of 6 months or longer

* Securing funding to house vulnerable adults by adhering to the housing benefit regulations criteria and keeping abreast of legislation changes

* Recording Value for Money savings to the public purse

These successes are recorded using a piece of software from Destin Solutions. This enables the charity to record every individual it houses, where they were housed previously, the longevity of their tenancy and the savings provided to the public purse for the period housed with the charity. These saving figures are provided to the individual local authorities.

Continued membership of the IRRV, Chartered Institute of Housing and participation in government reform ensures that legislation is always adhered to.

Public benefit

In setting our objectives and planning our activities our trustees have given careful consideration to the Charity Commission's general guidance on public benefit and, their guidance on fee-charging regarding services provided.

Grant income

The charity is funded by local government funding, in the form of Housing Benefit for supported and exempt accommodation. This funding is received when certain criteria are met regarding the vulnerability of the tenants and the fact that the charity is a not-for-profit organization.

The funding for supported accommodation was reviewed and the results of that review were published in May 2018. The decision has been made centrally to leave the funding of supported accommodation as it currently is, providing a stable and ongoing funding structure for the charity. From 2020 the charity was required to provide management information to show that it's housing is not a short-term solution (longevity of tenants) and that it provides Value for Money.

To this aim, the charity already collates data of the savings provided by a tenant being housed with Fortunatus, by comparing the weekly costs of living with Fortunatus compared to the weekly costs of where they lived previously (e.g., long term hospital). The savings to the public purse per annum currently exceeds £2,000,000 per annum.

Fortunatus went 'live' with a new system from Destin Solutions in early 2019, which it has continued to develop since, producing reports for local government funding decision makers of the savings to the public purse and wider community. The system records all referrals into the charity and records the length of time for the process of receiving a referral to housing someone, how long they live with Fortunatus, and the weekly savings provided. This enables reports to be produced and provided to both local authorities and central government.

In addition, the charity currently has a waiting list of 10 individuals awaiting housing, the upfront cost to housing each of these is approximately £3,000 per head.

The charity has also committed to another 10-year lease on its premises and has acquired new vehicles to lease for a 3-year period. The total of all its commitments is supported by the reserves it has gradually built and these reserves will also enable the charity to further enhance the quality of life of its tenants.

The Housing Support team continue to be based from home and go out in the community and carry out their fortnightly meetings virtually (with an in person meeting once a month).

The decision was made again by trustees to carry forward a provision at year end, totalling £40,332 - this is for known dilapidations on the 31st of August 2022 and a provision for this work (as per the same modelling as the previous year) and is a model that the charity has used for a number of years.

Volunteers

The charity currently has no volunteers on a daily basis, although two of the trustees are paid expenses only.

Recruitment for 3 more trustees began in September 2022 (they were appointed in November 2022)

The charity continues to use the Unity lottery; however, its main funding remains grants from local government.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity did not increase its number of houses and tenants, the housing market is quite volatile at the moment and some owners of properties had decided to sell due to rising mortgage rates. These are now gradually being replaced again. Due to the nature of the charity's tenants, unavoidable voids due to deaths, severe mental health breakdown and other factors also play a part. It has been agreed by the board that growth for 2022/23 will be 0 and the charity will attempt to stay at the same size.

Some maintenance services continue to be contracted out (gardening, window cleaning, decorating) to enable the in-house maintenance team to spend more time with each individual when carrying out other repairs. This has continued throughout the year and is used whenever necessary.

A local 'one-man' company has started to do rubbish removals for the charity, which has reduced costs from using larger firms and preventing build-up of rubbish at the warehouse

The Communications Officer continues to provide concentrated resources into building the charity's presence on the web and within social media, to help build an audience that will work hand in hand with the fundraising team to build both awareness of mental health but also to encourage supporters to support us financially. The Communications Officer also continues to work with the Business Development Manager to raise awareness of fundraising events.

The management team of the MD, Housing Manager, Property and Lettings Manager (previously Operations Manager) and Business Development Manager (previously Fundraising Manager) continue to ensure that all parts of the business work within a tight and transparent framework of procedures that enable the charity to house individuals promptly and safely in the community

What charity did achieve in this period was:

* It maintained weekly contact with all its vulnerable tenants throughout several lockdowns and working within government guidelines

* It continued to work with local authorities regarding best practice and legislation reform

* It continued to receive referrals for housing for vulnerable adults and accept these and successfully maintain its stock level

* It maintained its stock level despite a volatile housing market.

FINANCIAL REVIEW

Reserves policy

The Trustees have considered the amount that would be required to administer the organisation in the event of a crisis. This would include potential costs of redundancy, notice periods, accounting, legal fees and repayment of any long-term contracts on closure. A prudent sum would equate to three months operating costs with within the unrestricted general reserve - around £600,000

The unrestricted reserves at the year-end totalled £231,449.

Principle risks and uncertainties

The principles risk and uncertainties within the charity lie within certain key areas.

* Changes in Housing Benefit Funding. Changes in the legislation around the funding of supported accommodation could impact on the income of the charity. The Managing Director has 35 years of experience in the Housing Benefit field and is both a member of the main lobbying group (the IRRV) in this area and also a key contributor to the government's agenda on reform. Reports are regularly given to the management team and the trustees regarding any potential legislation changes and adaptations needed within the working practices of the charity.

* Rising costs of leasing properties. These rising costs are reviewed annually, and the rents charged to tenants and therefore the local authority are reviewed and amended annually.

* Rising costs of materials. These rising costs are reviewed annually, and the rents charged to tenants and therefore the local authority are reviewed and amended annually.

FUTURE PLANS

The charity's aim is to continue to provide housing for vulnerable adults in compliance with its funding stream

This requires:

* Continued involvement in the government review by the charity's Managing Director

* The review of costings again in April 2023 in conjunction with local authorities to allow for increases in rental costs and inflation

* Working closely with the police, local authorities and the NHS going forward

* Voids management, this is managed by a specialised team

* Acceptance of referrals. Referrals are now only accepted by the Managing Director as the final say and any previous neighbourhood anti-social behaviour has become a red flag regarding housing.

* The number of tenants each member of staff can support has been reviewed and the structure of this team changed.

Any future developments will only involve a solidification of the quality provided to the charity to its tenants.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Directors

C Nicholson

S Pimblett (appointed 18.05.2022)

Induction and appointment of new trustees

Trustees are appointed based on 3 key principles - Skills, Knowledge, and Experience

Any recruitment of trustees is carried out by the chairman of the board and two key managers, and the methodology is to seek trustees who have skills in change management, overseeing projects, HR skills and skills that would enhance the charity. Knowledge in housing, local authority funding and mental health services would also be a desirable and experience in any or all of these fields, as well as experience in working within a financial environment that includes budgets.

Any recruitment of trustees is carried out via a verified recruitment path (LinkedIn etc) and a shortlist is produced by the management team and chairman and a series of interviews takes place prior to appointment.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07744211 (England and Wales)

Registered Charity number

1144246

Registered office

Unit 9

Colville Court

Winwick Quay

Warrington

Cheshire

WA2 8QT

Trustees

C Nicholson (resigned 19.5.22)

I D Theobold

S Ellison

S Pimblett (resigned 19.5.22)

J Dentith

C Fouracre (appointed 23.11.22)

K Harding (appointed 23.11.22)

K Napier (appointed 23.11.22)

Company Secretary

R Langhorn

Auditors

Voisey & Co LLP

8 Winmarleigh St

Warrington

Cheshire

WA1 1JW

Accountants

WatkinsonBlack

1st Floor, 264

Manchester Road

Warrington

Cheshire

WA1 3RB

Key Management Personnel

Catherine Nicholson - Managing Director

Sara Pimblett - Business Development Manager

Rachel Langhorn - Property and Lettings Manager

Stephen Sweeney - Housing Manager

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Fortunatus Housing Solutions for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping 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 2006. They are 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.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Voisey & Co LLP, will be proposed for re-appointment at the forthcoming Annual General

Meeting.

Approved by order of the board of trustees on 22 May 2023 and signed on its behalf by:

S Ellison - Trustee

Opinion

We have audited the financial statements of Fortunatus Housing Solutions (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Enquiry of management, those charged with governance around actual and potential litigation and claims;

Enquiry of entity staff to identify any instances of non-compliance with laws and regulations;

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Warburton (Senior Statutory Auditor)

for and on behalf of Voisey & Co LLP

8 Winmarleigh St

Warrington

Cheshire

WA1 1JW

23 May 2023

31.8.22

31.8.21

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

811

-

811

974

Charitable activities

Activites for generating funds

2,562,432

-

2,562,432

2,487,551

Total

2,563,243

-

2,563,243

2,488,525

EXPENDITURE ON

Charitable activities

4

Activites for generating funds

2,506,868

-

2,506,868

2,476,453

Other

38,609

-

38,609

-

Total

2,545,477

-

2,545,477

2,476,453

NET INCOME

17,766

-

17,766

12,072

RECONCILIATION OF FUNDS

Total funds brought forward

213,683

-

213,683

201,611

TOTAL FUNDS CARRIED FORWARD

231,449

-

231,449

213,683

31.8.22

31.8.21

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

14,512

-

14,512

20,155

CURRENT ASSETS

Debtors

12

165,830

-

165,830

236,133

Cash at bank and in hand

150,840

-

150,840

216,548

316,670

-

316,670

452,681

CREDITORS

Amounts falling due within one year

13

(99,733

)

-

(99,733

)

(259,153

)

NET CURRENT ASSETS

216,937

-

216,937

193,528

TOTAL ASSETS LESS CURRENT LIABILITIES

231,449

-

231,449

213,683

NET ASSETS/(LIABILITIES)

231,449

-

231,449

213,683

FUNDS

14

Unrestricted funds

231,449

213,683

TOTAL FUNDS

231,449

213,683

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

The financial statements were approved by the Board of Trustees and authorised for issue on 22 May 2023 and were signed on its behalf by:

C Nicholson - Trustee

Cash flows from operating activities

Cash generated from operations

1

(54,744

)

32,021

Interest element of hire purchase or finance lease rental payments paid

(7,224

)

(14,935

)

Net cash (used in)/provided by operating activities

(61,968

)

17,086

Cash flows from investing activities

Purchase of tangible fixed assets

(3,740

)

(15,031

)

Net cash used in investing activities

(3,740

)

(15,031

)

Change in cash and cash equivalents in the reporting period

(65,708

)

2,055

Cash and cash equivalents at the beginning of the reporting period

216,548

214,493

Cash and cash equivalents at the end of the reporting period

150,840

216,548

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.8.22

31.8.21

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

17,766

12,072

Adjustments for:

Depreciation charges

9,383

10,967

Interest element of hire purchase and finance lease rental payments

7,224

14,935

Decrease/(increase) in debtors

70,303

(30,368

)

(Decrease)/increase in creditors

(159,420

)

24,415

Net cash (used in)/provided by operations

(54,744

)

32,021

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.21

Cash flow

At 31.8.22

£

£

£

Net cash

Cash at bank and in hand

216,548

(65,708

)

150,840

216,548

(65,708

)

150,840

Total

216,548

(65,708

)

150,840

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Grant income

Grants relating to revenue are recognised in the statement of financial activities on a systematic basis over the periods in which the charity recognises the related costs for which the grant is intended to compensate.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short term liquid investments with original maturities of three months or less, and bank overdrafts.

2.	DONATIONS AND LEGACIES

31.8.22

31.8.21

£

£

Donations

811

974

3.	INCOME FROM CHARITABLE ACTIVITIES

31.8.22

31.8.21

Activity

£

£

Housing benefit receivable

Activites for generating funds

2,562,432

2,480,265

Grants

Activites for generating funds

-

7,286

2,562,432

2,487,551

4.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 5)

Totals

£

£

£

Activites for generating funds

1,419,972

1,086,896

2,506,868

5.	SUPPORT COSTS

Information

Management

Finance

technology

£

£

£

Activites for generating funds

971,268

33,628

30,756

Human

Governance

resources

costs

Totals

£

£

£

Activites for generating funds

39,984

11,260

1,086,896

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.8.22

31.8.21

£

£

Auditors' remuneration

5,400

5,400

Depreciation - owned assets

9,382

10,967

Hire of plant and machinery

78,066

83,404

Other operating leases

1,224,217

1,206,628

7.	TRUSTEES' REMUNERATION AND BENEFITS

31.8.22

31.8.21

£

£

Trustees' salaries

95,820

124,772

Trustees' fees

23,400

-

Trustees' social security

11,181

15,703

Trustees' pensions paid

4,786

6,395

135,187

146,870

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

8.	STAFF COSTS

31.8.22

31.8.21

£

£

Wages and salaries

773,073

774,222

Social security costs

79,097

69,209

Other pension costs

31,605

30,964

883,775

874,395

The average monthly number of employees during the year was as follows:

31.8.22

31.8.21

Average employees

26

27

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

31.8.22

31.8.21

£100,000 - £110,000

1

1

Included within staff costs are £38,609 of Director's remuneration.

The key management personnel of the charity comprise the trustees, MD, Housing Manager, Property and Lettings Manager (previously Operations Manager) and Business Development Manager (previously Fundraising Manager).

9.	LEASING COMMITMENTS

At the balance sheet date the charity had several financial commitments such as vehicle and property leases.

The total amount contracted for but not provided in the financial statements was £119,599 (2021 - £214,141).

The most significant lease commitment being a new 5 year property lease that was signed on 3rd August 2018.

10.	EMPLOYEE LOANS

The charity has provided interest free loans to some employees. These loans are all repayable over more than 1 year.

The total balance on these loans at the year end was £18,089, and the amount repayable after more than 1 year was £13,396.

11.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2021

66,881

-

-

-

66,881

Additions

1,965

124

-

1,651

3,740

Disposals

(1,964

)

(124

)

-

(1,651

)

(3,739

)

Reclassification

(53,223

)

12,088

3,300

37,834

(1

)

At 31 August 2022

13,659

12,088

3,300

37,834

66,881

DEPRECIATION

At 1 September 2021

46,726

-

-

-

46,726

Charge for year

1,925

2,134

-

5,323

9,382

Eliminated on disposal

(1,964

)

(124

)

-

(1,651

)

(3,739

)

Reclassification/transfer

(35,371

)

4,185

3,300

27,886

-

At 31 August 2022

11,316

6,195

3,300

31,558

52,369

NET BOOK VALUE

At 31 August 2022

2,343

5,893

-

6,276

14,512

At 31 August 2021

20,155

-

-

-

20,155

12.

DEBTORS

31.8.22

31.8.21

£

£

Amounts falling due within one year:

Trade debtors

99,188

144,228

Other debtors

45

45

Bonds recoverable

28,393

20,585

Employee loans

4,693

23,422

Prepayments

20,115

47,853

152,434

236,133