| Page | ||
|---|---|---|
| Legal and Administrative Information |
1 to 2 | |
| Report ofthe Chair | ||
| Report ofthe Chief Executive | 4 to 5 | |
| Report ofthe Trustees | 6to21 | |
| Report ofthe Independent Auditors |
22 to 23 | |
| Statement ofComprehensive Income |
24 | |
| Statement ofFinancial Position | 25 | |
| Cash Flow Statement | 26 | |
| Nates to the Financial Statements | 27to 34 | |
| Detailed Income and Expeaditure | Account | 35 |
| E | Extreme rtsk, imm mte acticm. Escalate as an issue. |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| H | High risk, action should be taken to compensate. | |||||||||
| M | Moderate risk, action should be taken to monitor. | |||||||||
| L | Low risk. routine ace ance ofrisk. |
|||||||||
| STONEPILLOW RISKREGISTER | IMPACT | MITIGATION | ||||||||
| Governance | ||||||||||
| 1 | The charity lacks direction, strategy and forward planning. |
H | ||||||||
| 2 | Board ofTrustees fail to have the right skills, knowledge and understanding |
ofthe | ||||||||
| governance structures in place, preventing effective accountability |
snd oversight of | |||||||||
| regulatory obligations which include the Care Quality Commission |
(CQC) and | Charity | ||||||||
| Commission. | H | |||||||||
| 3 | Inadequate or inaccurate information isreported to Trustees, resulting |
in | poor | quality | ||||||
| decision making. | H | |||||||||
| 4 | Negative PR snd/or media coverage. | E | ||||||||
| 5 | Failure to achive registration under the CQC regulatory tramework. |
Failure to | secure | a | ||||||
| Registered Manager. | H | |||||||||
| Financial | ||||||||||
| 6 | Finance and resources dependent upon alimited number ofcontracts. |
E | ||||||||
| 7 | Poor contmct delivery and service pmvision. |
H | ||||||||
| 8 | inaccurate fmancial reporting and ineffective budgetary conn ol. |
H | ||||||||
| Failure to deliver on fundraising ambitions due to lack ofcoherent |
fundraising | strategy | ||||||||
| and loss ofcommunity commitment. |
H | |||||||||
| Operational | ||||||||||
| 10 | Lackofclear management structure, leading to uncertainty amongst |
staff | ofroles and | |||||||
| duties. | ||||||||||
| Failure to adhere to Health and Safety regulations, policies and regulatory |
||||||||||
| requirements. Poor security ofstaff, arising &om lack ofknowledge |
ofprocedures | and | ||||||||
| policies. Action being taken without proper authority, caused by lack |
of | |||||||||
| induction/training. | E | H | ||||||||
| 12 | Failure to adhere to regulatory framework ofCQC. |
H | M | |||||||
| 13 | Employment issues arising &om a failure to follow effective policies |
and | procedures | to | ||||||
| regulate stsff and volunteers' activities. Lackofmanagerial oversight |
and | monitoring | o | |||||||
| work, conduct and performance. Non-compliance by staff and volunteers |
with | CQC | ||||||||
| requirements, H&Slegislation and regulations. |
E | |||||||||
| 14 | Poor disaster recovery and business continuity planning, leading to |
computer | system | |||||||
| failures orloss ofdata, the destruction ofproperty, equipment, records through |
fire, | |||||||||
| flood or similar damage. | H | M | ||||||||
| 15 | Failure to comply with GDPR requirements for clients, staff and donors. |
H | L | |||||||
| 16 | Nationwide Pandemic. |
H | M |
| FINANCIAL REVIEW | |||||||
|---|---|---|---|---|---|---|---|
| The financial result for the year was | asurplus of$520,345. | ||||||
| Fiaandal maaagement policies |
|||||||
| The main financial management policies applied by the |
Charity | are | to: | ||||
| Enter each financial year with | abalanced budget | or suflicient | cash in reserves | to cover any projected | deficiency. | ||
| Monitor thc monthly out-turn |
against that budget | through | detailed management | accounts. | |||
| Monitor the monthly cash flow position. |
|||||||
| Easure that any new projects | are adequately funded before being implemented. |
||||||
| Ensure flmt any contract work | makes an adequate | contribution | to the administrative | and managerial | overheads. | ||
| Find replacement funding for |
grants before their | cessation | date. |
| Trust | Trust | or Business | Amount |
|---|---|---|---|
| Nadonal L | E188812 | ||
| Crisis UK | E95225 | ||
| HomelessLlnk | E58,431 | ||
| Sussex Cornmuni Foundation |
E28312 | ||
| Hos ital oftheBiessed | M | f25 000 | |
| Ernest Kleinwort Charitable |
Trust | E10000 | |
| Moirisons Foundation | E7834 | ||
| Tenn on Insunmce |
E5423 | ||
| Anthon I ens Trust |
E5000 | ||
| Irwin Mitchell LLP | E5,000 | ||
| The Boltini Trust | |||
| The Sctewdx Poundation | f4 000 | ||
| Bassil Shi dt Alsford Trust |
E3000 | ||
| Patricia Routled Trust |
E3000 | ||
| The Beatrice Trust |
f3 000 | ||
| The RalfTrust | E3000 | ||
| Arthur Williams Trust | K2 000 | ||
| Ihe Jacaranda Tmst | |||
| Bemadette Charitable Trust |
EI.000 | ||
| Hears Trustees | EI 000 | ||
| The Bm tFoundation |
El 000 | ||
| Chichester Welfare Trust | f560 | ||
| Sussex Police Commission | f500 | ||
| TescoB ofHei |
E500 | ||
| Stella S nds Trust |
f250 | ||
| Bo orVine |
K150 | ||
| The National Fundin |
f126 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Notes | ||||
| FIXEDASSETS | ||||
| Housing properties - depreciated | cost | 7 | 3,417,542 | 2,830,451 |
| Other tangible assets |
8 | 73,420 | 52,465 | |
| 3,490,962 | 2,882,916 | |||
| CURRENT ASSETS | ||||
| Debtors | 9 | 315,218 | 176,386 | |
| Cash at bank and in hand | 1,266,629 | 1,116,030 | ||
| 1,581,847 | 1,292,416 | |||
| CREDITORS | ||||
| Amounts falling due within one |
year | 10 | (326,255) | (322,320) |
| NET CURRENT ASSETS | 1,255,592 | 970,096 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 4,746,554 | 3,853,012 | ||
| CREDITORS | ||||
| Amounts falling due after more |
than one year | 11 | (1,961,196) | (1,587,999) |
| NET ASSETS | 2,785,358 | 2365,013 | ||
| RESERVES | ||||
| Unrestricted reserves |
||||
| General reserve | 14 | 832,172 | 605,006 | |
| Property reserve | 14 | 1,353,186 | 1,160,007 | |
| Capitalreserves | 14 | 600,000 | 500,000 | |
| 2,785,358 | 2,265,013 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Cash Rows from operatiag | activities: | ||||||
| Cash generated &om operations |
(see below) | 950,522 | 555,606 | ||||
| Net cash provided by operating |
activities | 950,522 | 555,606 | ||||
| Cash flows from lavesting | activities: | ||||||
| Purchase oftangible fixed assets | (801,347) | (284,989) | |||||
| Interest received | 1,424 | 2,969 | |||||
| Net cash used la investing | activities | (799,923) | (282.020) | ||||
| Change in cash and cash equivalents |
In tbe reporting | period | 150,599 | 273,586 | |||
| Cash and each cquivaleats | at the beginaing oftbe reporting | period | 1,116,030 | 842,444 | |||
| Cash and cash equivaleats | at the end | oftbe reporting | period | 1,266,629 | 1,116,030 | ||
| RECONCILIATION OF | NET | INCOME/(EXPENDITURE) | TONET CASH | FLOW FROM OPERATING ACTIVITIES | |||
| 2021 | 2020 | ||||||
| 6 | |||||||
| Net income for the reportiag period |
(as per the statement | ||||||
| ofcomprehensive income) |
520,345 | 159,387 | |||||
| Adjustmeats for: |
|||||||
| Depreciation charges |
193,301 | 166,362 | |||||
| Interest received | (1,424) | (2,969) | |||||
| Decrease in debtors | (138,832) | 42,322 | |||||
| Increase/&decrease) in creditors |
377,132 | 190,505 | |||||
| Net cash provided by operating |
activities | 950,522 | 555,606 |
| regulatory body. Restricted reserves include funds raised in response to a cannot be directly set against restricted reserves but is taken through the then atransfer torestricted reserves is made as appropriate. |
regulatory body. Restricted reserves include funds raised in response to a cannot be directly set against restricted reserves but is taken through the then atransfer torestricted reserves is made as appropriate. |
specific appeak Revenue sn statement ofcompruheasive |
d expenditure income and |
|
|---|---|---|---|---|
| 2. | ACCOMMODATION IN MANAGEMENT |
|||
| 2021 | 2020 | |||
| Number ofunits inanaged | by the charity at the end ofthe yean | |||
| Recovery Service | 22 | 22 | ||
| Hostels | 33 | 33 | ||
| Supportrd Accommodatioa |
41 | 41 | ||
| 96 | ||||
| 3. | OPERATING SURPLUS | |||
| Operating surplus is stated |
atter charging((credhing): | 2021 | 2020 | |
| Auditors' remuneration |
6,840 | 6,600 | ||
| Depreciation - housing properties | ISL147 | 132,808 | ||
| Depreciation - other tangible assets | 42,154 | 43,727 | ||
| 4. | INTEREST RECEIVABLE AND SIMILAR INCOME | |||
| 2021 | 2020 | |||
| I | ||||
| Deposit account interest | 1,424 | 2,969 |
| STAFFCOST | S | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| 6 | |||||
| Wages and salaries | 1,526,337 | 1,366,681 | |||
| Social sscurlty | costs | 126,560 | 107,054 | ||
| Other pension costs | 61,463 | 52,850 | |||
| 1,714,360 | 1,526,585 | ||||
| The average monthly | nmnber ofemployees | during the year was as follows: | |||
| 2021 | 2020 | ||||
| Project workers | 51 | 44 | |||
| Administration | and publicity | 9 | 8 | ||
| 60 | 52 |
| 7. | TANGIBLE FIXEDASSETS - HOUSING PROPERTIES | ||
|---|---|---|---|
| Freehold | Freehold | ||
| Housing | Housing | ||
| Property | Property | ||
| 2021 | 2020 | ||
| 6 | |||
| COST | |||
| At 1stApril 2020 | 3320355 | 3,047,603 | |
| Additions | 738338 | 272,652 | |
| Disposals | |||
| At 31stMarch 202 i | 4,058,493 | 3,320,255 | |
| DEPRECIATION | |||
| At 1stApril 2020 | 489,804 | 356,996 | |
| Charge foryear | 151,147 | 132,808 | |
| Depmciation on disposal |
|||
| At31st March 2021 | 640,951 | 489,804 | |
| NET BOOK VALUE | |||
| At31stMarch 2021 | 3,417,542 | 2,830,451 | |
| At 31stMarch 2020 | 2&830&451 | 2,690,607 | |
| 8. | TANGIBLE FIXEDASSETS - OTHER | ||
| Fixtures dt | Fixtures dt | ||
| Fittings | Fittings | ||
| 2021 | 2020 | ||
| 8 | |||
| COST | |||
| At 1st April 2020 | 241,941 | 229,604 | |
| Additions | 63,109 | 12,337 | |
| Disposals | |||
| At 31stMarch 2021 | 305,050 | 241,941 | |
| DEPRECIATION | |||
| At 1stApril 2020 | 189,476 | 155,922 | |
| Charge for year | 42,154 | 33,554 | |
| Depreciation on disposal |
|||
| At 31stMarch 2021 | 231,630 | 189,476 | |
| NET BOOK VALUE | |||
| At 31stMarch 2021 | 73,420 | 52,465 | |
| At 31stMarch 2020 | 52,465 | 73,682 |
| 9, | DEBTORS: | AMOUN | TS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| 8 | |||||
| Trade debtors | 236,096 | 78,905 | |||
| Other debtors | 23,521 | 39,206 | |||
| prepayments | and accrued income | 55,601 | 58,274 | ||
| 315,218 | 176,386 | ||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2021 | 2020 | ||||
| 8 | |||||
| Bank loans | 26&695 | 25,847 | |||
| Social security and other taxes | 31,125 | 27,586 | |||
| Other creditors | 32,514 | 23,920 | |||
| Accruals, dilspidations | and deferred income | 235,921 | 244,966 | ||
| 326255 | 322326 |
| CREDIT | ORS: AMOUNTS | FALLING DUE AFTER MORE TH | AN ONE YEAR | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| Bank loans | 544,667 | 571,899 | ||
| Deferred | income | 1,416,529 | ],016,100 | |
| 1,961,196 | 1,587,999 | |||
| An analysis ofthe maturity ofloans isgiven below: | ||||
| 2021 | 2020 | |||
| f | ||||
| Amounts | falling due within one year on demand | 26,695 | 25,847 | |
| Amounts | falling due between | one and two years | 28,001 | 27,098 |
| Amounts | falling due between | two and five years | 92,545 | 60,371 |
| Amounts | falling due in more | than five years | 424,121 | 4&4,430 |
| ANALYSIS OFNET AS | SETSBETWEEN RESERVE | S | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Unrestricted | Restricted | Total | Total | ||
| reserves | reserves | reserves | reserves | ||
| Fixed assets | 3,490,962 | 3,490,962 | 2,$82,916 | ||
| Current assets | 1,5$1,847 | 1,581,847 | 1,292,416 | ||
| Current liabilities | (326,255) | (326,255) | (322,320) | ||
| Long term liabilities | (1,961,196) | (1,961,196) | (1,587,999) | ||
| ,785,3 8 | - | 5785358 | 2,265,013 | ||
| RESERVES | |||||
| Surplus/ | |||||
| At 1.4.20 f, |
(deficit) f |
Transfers f |
At 31.3.21 f |
||
| Uarestricted reserves |
|||||
| General reserve | 605,006 | 1,950,039 | (1,722,873) | $32,172 | |
| Property reserve | 1,160,007 | 193,179 | 1,353,186 | ||
| Designated Capita! reserve |
500,000 | 100,000 | 600,000 | ||
| Restricted reserves | |||||
| Chichestcr Hub (Old Glassworks) | (76,163) | 76,163 | |||
| Resnue - Social Enterprise | Chichester | (287,152) | 2$7,152 | ||
| Restore - Social Enterprise | Bognor Regis | (I14,420) | 114,420 | ||
| Recovery Service (Sands) | (172,546) | 172,546 | |||
| Chichester Hostel (StJoseph's Hostel+ The Lodge) |
(IIII,149) | 118,149 | |||
| Bognor Regis Hostel/Hub | (Glenlogie + Ellasdale Road) | (329&114) | 329,114 | ||
| Supported Accommodation |
(Move-on) | (332,150) | 332,150 | ||
| Outreach | |||||
| (1,429,694) | 1,429,694 | ||||
| TOTAL RESERVES | 2,265,013 | 520,345 | 2,785,358 |
| RESERVES - continued | RESERVES - continued | ||||
|---|---|---|---|---|---|
| Net movement in reserves, included in the above |
are as follows: | ||||
| Total | Total | Surplus/ | |||
| income 6 |
expenditure | (deficit) f |
|||
| Unrestricted reserves General reserve |
2,267,102 | (317,063) | 1,950,039 | ||
| Restricted reserves | |||||
| Chichester Hub (Old Glassworks) Restore - Social Enterprise Chichester Restore - Social Enterprise Bognor Regis Recovery Service (Sands) Chicbester Hostel (StJoseph's Hostel +The Lodge) Bognor Regis Hostel/Hub (Glenlogie+ Ellasdale Road) Supported Accommodation (Move-on) Outreach |
136,003 39,857 175,46$ 273,574 46,250 152,041 227,785 |
(212,166) (327,009) (114,420) (348,014) (391,723) (375,364) (484,191) (227,785) |
(76,163) (287,152) (114,420) (172,546) (118,149) (329,114) (332,150) |
||
| 1,050,97$ | (2,480,672) | (1,429,694) | |||
| 3,318,080 | (2,797,735) | 520,345 | |||
| Comparatives for movement ia funds |
At 1.4,19 | Surplus/ (deficit) 8 |
Transfers f |
At 31.3.20 | |
| Unrestricted reserves General reserve Property reserve Designated Capital reserve |
975,703 1,129,923 |
1,777,535 | (2,148,232) 30,084 500,000 |
605,006 1,160,007 500,000 |
|
| Restricted reserves | |||||
| Chichester Hub (Old Glsssworks) Restore - Socal Enterprise Chichester Restore - Social Enterprise Bognor Regis Recovery Service (Sands) Chichester Hostel (StJoseph's Hostel +The Lodge) Bogsor Regis Hostel/Hub (Glenlogie+ Ellssdale Road) Supported Accommodation (Move-on) |
(2,030) (346,589) (109,194) (131,139) (272,939) (315,601) (440,656) |
2,030 346,589 109,194 131,139 272,939 315,601 440,656 |
|||
| (I618 148) | I 618148 | ||||
| TOTAL RESERVES | 2,105,626 | 159,387 | 6666» | ||
| Compmitive net movement in reserves, |
included | in the above are as follows: | Total | Total | Surplus/ |
| income | expenditure | (deficit) | |||
| f | 6 | f. | |||
| Unrestricted reserves General reserve |
2,057,713 | (280,179) | 1,777,535 | ||
| Rmtricted rmervm Chichester Hub (Old Glassworks) Restore - Social Enterprise Chichester Restore - Socal Enterprise Bognor Regis Recovery Service (Sands) Chichester Hostel (StJoseph's Hostel + The Lodge) Bognor Regis Hostel/Hub (Glenlogie+ Ellasdale Road) Supported Accommodation (Move-on) |
207,370 10,000 191,053 95&252 105,907 48,116 |
(209,400) (356,589) (109,194) (322,192) (368,191) (421,508) (4$$,772) |
(2,030) (346,589) (]09,194) (131,139) (272,939) (315,601) (440,656) |
||
| 657,698 | (2,275,846) | (1,618,148) | |||
| 2,715,411 | (z,ss6,0zs) | is9,3$7 | |||
| Page 33 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Turnover | ||||
| Voluntary iacome Church donations |
11,136 | 24,554 | ||
| Private and other donations | 223,255 | 118,808 | ||
| Trust funds | 291,274 | 185,250 | ||
| Local authority giants | 348,152 | 359,098 | ||
| $73,$17 | 687,710 | |||
| Activities for generating Fundraising income |
funds | 5$,030 | 110,121 | |
| Income from charitable | activities | |||
| Housing benefit Grants |
1,050,490 933,262 |
1,101,732 240,600 |
||
| Release ofcapital grant Client contributions |
76,465 60,761 |
60,981 60,468 |
||
| Restore sales | 219,463 | 406,272 | ||
| Other income | 43,$08 | 43,959 | ||
| Membership subscriptions |
560 | 600 | ||
| 2,384,809 | 1,914,612 | |||
| Total turnover | 3316,656 | 2,712,443 | ||
| Operating costs Wages and salaries Social security Pensions |
1,526,337 126,560 61,463 |
1 366681 107,054 52,850 |
||
| insurance | 27,713 | 22,111 | ||
| Postage and stationary Other costs |
10,429 252,657 |
15,515 244,514 |
||
| Property costs Stafrelated costs |
496,905 20,626 |
500,418 22,441 |
||
| Auditors' remuneration |
6,840 | 6,600 | ||
| Legal and professional Depreciation oftangible |
fees fixed assets |
74,904 193,301 |
51,479 166,362 |
|
| 2,797,735 | 2,556,025 | |||
| Operating surplus |
518,921 | 156,418 | ||
| interest receivable snd |
similar income | 1,424 | 2,969 | |
| Surplus for the financial | year | 520,345 | 159,387 |