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|||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|
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|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|
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|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.|||||
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|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|
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||||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|
##
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|||||||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|
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||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|
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|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|
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|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|
##
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|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$7,152||
|Restore - Social Enterprise|Bognor Regis||(I14,420)|114,420||
|Recovery Service (Sands)|||(172,546)|172,546||
|Chichester
Hostel (StJoseph's Hostel+ The Lodge)|||(IIII,149)|118,149||
|Bognor Regis Hostel/Hub|(Glenlogie + Ellasdale Road)||(329&114)|329,114||
|Supported
Accommodation|(Move-on)||(332,150)|332,150||
|Outreach||||||
||||(1,429,694)|1,429,694||
|TOTAL RESERVES||2,265,013|520,345||2,785,358|
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|RESERVES - continued|RESERVES - continued|||||
|---|---|---|---|---|---|
|Net movement
in reserves, included
in the above||are as follows:||||
||||Total|Total|Surplus/|
||||income
6|expenditure|(deficit)
f|
|Unrestricted
reserves
General reserve|||2,267,102|(317,063)|1,950,039|
|Restricted reserves||||||
|Chichester
Hub (Old Glassworks)
Restore - Social Enterprise
Chichester
Restore - Social Enterprise Bognor Regis
Recovery Service (Sands)
Chicbester Hostel (StJoseph's Hostel +The Lodge)
Bognor Regis Hostel/Hub
(Glenlogie+ Ellasdale Road)
Supported
Accommodation
(Move-on)
Outreach|||136,003
39,857
175,46$ 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||6666ยป|
|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||||
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||||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|