**REGISTERED COMPANY NUMBER: 02537864 (England and Wales) REGISTERED CHARITY NUMBER: 1001178**
## **REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
## **WORDSLEY HOUSING SOCIETY**
J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
**WORDSLEY HOUSING SOCIETY**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 10|
|**Report of the Independent Auditors**|11 to 13|
|**Statement of Financial Activities**|14|
|**Balance Sheet**|15|
|**Cash Flow Statement**|16|
|**Notes to the Cash Flow Statement**|17|
|**Notes to the Financial Statements**|18 to 29|
|**Detailed Statement of Financial Activities**|30 to 31|
**WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
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 March 2021. 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 objects of the society are "to provide housing and associated amenities for discharged psychiatric patients and persons suffering from mental illness who are in necessitous circumstances”.
## **Review of the Society (Purpose of the Charity)**
Wordsley Housing Society opened 30 Brook Street in 1987 as a mental health residential care home in response to the predicted closure of two psychiatric hospitals - Burton Road Hospital and Barnsley Hall Hospital.
In 1996, an extension was added to the building offering further accommodation and recreational space.
In 2002 and 2009, two-bed properties were added to our portfolio, two in 2002 and one in 2009 that provided tenants with the opportunity to experience independent living with reduced hours of support as a stepping stone before living completely independently as an integrated member of the community.
In March 2015, we transitioned from a residential care home to a supported living service offering tenants more choice and control that comes from having a tenancy agreement.
## **Ensuring our work delivers our aims**
We review our aims, objectives and activities are annually. This review looks at our achievements and outcomes over the previous 12 months. The success of each activity and the benefits they have brought to the people are fundamental to our service delivery.
## **Significant activities**
## **What We Do**
We offer 24-hour specialist mental health support and tenancy accommodation in Stourbridge to adults with complex mental health care needs from Dudley and neighbouring boroughs.
We support people to develop skills and strategies that enable recovery and develop resilience in managing their mental illness and its symptoms, as well as, maximising life opportunities, achieving greater independence, developing daily living skills and promoting social inclusion.
The organisation is registered and regulated by the Care Quality Commission under the Health and Social Care Act 2008 to provide personal care; as well as being commissioned by Dudley Metropolitan Borough Council (DMBC) for the provision of care and support for people with complex needs.
Throughout 2020 - 2021 we provided accommodation and support to 27 individuals, the majority of whom were from the Dudley borough. We were once again fortunate to achieve an occupancy rate of 98%, which was above the target set when the organisations operating budgets were devised at the beginning of the year.
The majority of our funding has been received from Dudley MBC who pay for the individual's support and accommodation costs, any excess funds are either re-invested into the service or set aside for reserves.
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**WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Our Accommodation**
30 Brook Street - Supported Living Accommodation
30 Brook Street accommodates up to 19 people on two levels and is made up of 19 rooms over the two floors.
The ground floor offers single bedroom accommodation with shared bathroom and living spaces. There are two communal lounges; a computer room with free internet access; a spacious dining room; laundry; and a large well-maintained garden with patio areas. Our cook can cater for tenants in our commercial-style kitchen located on the ground floor and there is also a kitchenette available for the tenants to use.
The first floor offers bedsit-style single bedrooms with two people sharing a kitchen and bathroom facility with a communal lounge/ dining room available to use.
Sutton Street - Independent Living with Support
Our three, shared two bed properties on Sutton Street can accommodate 6 people on a quiet cul-de-sac in close proximity to 30 Brook Street.
They offer single bedroom accommodation, furnished and maintained to a high standard, with shared bathroom, kitchen and living spaces. There is also a driveway and garden with patio area.
## **Our Team**
We have a friendly, diverse team of 41 staff including 28 support workers who have the right values, behaviours and experience to work in social care. They love making a difference, some of our support workers have been with us since 1999.
We have met our recruitment targets to ensure we have the right people to deliver personalised services whilst retaining our skilled, motivated and dedicated workforce. We increased our pool of bank support workers and cleaning staff with the specific aim of reducing agency usage. Since the beginning of the pandemic we minimised the movement of staff within the organisation, to reduce the risk of asymptomatic transmission of the virus.
We have also introduced an enhanced cleaning programme to ensure all areas of the organisation are cleaned twice daily, these steps have been taken in addition to routine systems of infection control and where appropriate the use of personal protective equipment (PPE).
Staff receive induction, ongoing training, professional development and performance reviews to ensure that they remain up to date with recommended practice and regulatory requirements to enable them to carry out their role and responsibilities to the standards we expect.
We use safe recruitment and selection procedures. All members of staff undergo an enhanced Disclosure and Barring Service (DBS) check and have pre-employment checks to confirm that they are suitable to work with vulnerable people.
Comments about staff included in our last Care Quality Commission report include:
Relatives told us they felt confident staff were appropriately trained and equipped to carry out their role. Comments included, "The staff are very good. They know what they're doing," and "I think the staff are excellent."
A professional who has regular contact with the service told us staff had been very supportive when a person was physically unwell. They said, "[Staff] went above and beyond their remit to support the patient after the operation. They were available at night to support [them] and were very accommodating to [their] needs."
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Our Services**
We offer flexible person-centred support packages with the aim to maximise tenant's life opportunities, achieve greater independence, develop daily living skills and promote social inclusion.
We support tenants by:
- Offering one-to-one, tailored support from staff who are onsite 24 hours a day, 7 days a week
- Providing home-cooked, healthy meals if required (catering for dietary requirements)
- Providing a clean, comfortable and friendly living environment
We support tenants with:
- Managing finances (budgeting, claiming benefits, debts)
- Personal care and medication management
- Attending medical appointments
- Developing hobbies / interests
- Access to education, training, volunteering and employment
- Access to leisure, cultural and social activities (holidays, day trips and celebrations)
- Maintaining a tenancy
- Developing daily living skills
- Maintaining physical, mental and emotional well-being
- Developing and maintaining social networks and positive relationships
## **Key Objectives for the Year Included: -**
1. To successfully manage the Covid-19 pandemic.
2. To increase our staffing levels to meet government guidance on managing the Covid-19 Pandemic.
3. To ensure every person both tenants and staff feels valued, supported and given the confidence to achieve their goals.
4. To maintain a high occupancy rate.
5. To review our carbon footprint and impact on the environment and create a sustainability policy.
6. To retain our experienced well-trained staff.
7. To play our part in providing mental health services to the local community.
## **Public benefit**
## **How our activities deliver public benefit**
All of our charitable activities focus on our ability to enable individuals who are suffering from mental ill health to maintain an independent and valued role within the community.
The Society operates as a social business in that it has no shareholders, and all surpluses are used for the furtherance of its charitable aims.
## **Social investments**
Everything we do represents a social investment for both the tenants we serve and the staff who support them.
We encourage every tenant to maximize their development and participate fully within the community and every member of staff is encouraged to develop their skills to enhance their sense of wellbeing and feeling valued and respected.
Social Investment is about investing in people. It means policies designed to strengthen people's skills and capacities and support them to participate fully in employment and social life. Key policy areas include education, healthcare, training, volunteering, job-search assistance and rehabilitation.
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Protection of Vulnerable Adults**
We have reviewed our responsibilities as laid out in the Care Act 2014 and in the Charity Commission's guidance of strategy for dealing with safeguarding issues in charities and confirm that we have complied with statutory requirements.
The organisation is committed to the safeguarding of vulnerable adults. We have policy and procedures for the protection of people who use our services and provide regular staff training.
Every new member of staff receives an employee handbook. In this, the organisation's values are reiterated, and staff are reminded of the policies on safeguarding and whistleblowing.
Tenants are also informed and educated on how to safeguard themselves, this includes what to look out for and how to report it.
## **STRATEGIC REPORT**
## **Achievement and performance**
## **Care Quality Commission (CQC) Inspection Report**
Our last CQC inspection took place on 2nd May 2019, this was an unannounced inspection carried out by one adult social care inspector and started on 2nd May 2019 and ended on 8th May 2019. Activities included meeting and speaking with people who used the service, their relatives and other professionals. Talking to staff and reviewing records and documents. We were awarded an overall rating of 'Good' across all areas inspected.
|Is the service safe|- Good|Is the service effective|- Good|
|---|---|---|---|
|Is the service caring|- Good|Is the service responsive|- Good|
|Is the service well-led|- Good|||
## **Food Standards Agency Inspection**
On 6th November 2018, we were inspected by Dudley MBC Food Standards Agency and awarded 5 out of 5 stars (5*). The next inspection was due November 2020 however due to the Covid-19 Pandemic this did not take place.
## **Interior Upgrades**
Investment by CHADD and Wordsley Housing Society into the fabric of the building has enabled the kitchenettes and bathrooms to be refurbished and updated. At the request of the tenants, walk-in showers replaced the baths.
## **External Supporters**
We have been supported by local and national suppliers including B & Q (Kidderminster), Wilko, Tesco & Sainsbury's who provided Christmas decorations & equipment for an enhanced in-house activity programme to take place which the tenants really appreciated and assisted with maintaining their mental health. A member of staff arranged a raffle to raise funds for a games table and other activity equipment
## **Board of Trustees**
We have a Board of Trustees who are volunteers that share ultimate responsibility for governing the Society and directing how it is managed and run.
The Board consists of six members and is comprised of the Chairman, Deputy Chairman and other elected trustees who support the manager with the day-to-day responsibilities and management of the Society, the manager is directly accountable to the Board.
The Board retains ultimate control over all aspects of the Society's work and ensures that its financial and legal responsibilities are properly fulfilled.
The trustees fulfilled their duty to ensure our investments are prudent, appropriately managed and have the right level of risk to produce the right level of returns.
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **Covid-19 Pandemic**
Our excellent staff team rose to every challenge this virus has presented. They have worked hard and remained calm & professional whilst managing this threat from the virus to everyone, they are a credit to the organisation, and we are immensely proud and impressed with their conduct and performance throughout this difficult year.
There were times when the staff have been anxious and worried, they were concerned for their health and for the health of their loved ones as well as the health and wellbeing of their fellow peers and tenants. The senior team provided reassurance and ensured that all of the equipment and provisions they needed to carry out their duties safely and effectively were always available.
In 2020, everyone had to adjust to a new way of living & working where social interaction was no longer the norm. This included adhering to frequently changing government guidelines, social distancing, the use of PPE and following the control of infection guidance from Dudley’s Public Health Officers when providing support.
Consultations with medics and care coordinators carried out remotely via telephone, What’s app or phone videoing caused some tenants to become anxious. The majority of tenants understood why we had to change the way we did things.
We were resilient and played a fundamental role in ensuring that the people we cared for were kept safe and well. We encouraged and supported tenants to follow the rules the government and Public Health England laid out to try to keep everyone safe and avoid catching the virus.
In June & December staff received a one 4 all voucher, because it was important that staff were recognised for going above and beyond, what they did wasn’t in their job description, it’s a credit to them, their sense of team, their compassion and care for those they support that pulled us through a very rough year and we wanted to show our appreciation.
## **Management and Administration**
The registered manager Ms K Barr carries out the day-to-day management of the home. She provides bi-monthly reports to the board.
## **Our Vision**
'Our vision is a world where people are not labelled or judged for having a mental illness and are assisted to recover their independence'.
## **Our Mission**
Our mission is to provide people who have a mental illness and associated problems in the Dudley borough with a service that: -
- Provides support.
- Provides short - medium term rehabilitation.
- Provides long term support packages
- Assists and supports recovery.
- Provides a person-centred approach that meets individual needs.
- Improves confidence, self-esteem, hope and resilience leading to independence.
- Empowers individuals to reach their full potential and become happy with themselves.
- Encourages individuals to have choice and take control over their lives.
- Enables participation in a wide range of activities and promotes community social inclusion.
- Protects vulnerable people from harm and enables them to recognise signs of abuse.
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRATEGIC REPORT**
## **Financial position**
The Statement of Financial Activities for the year ended 31 March 2021 shows incoming resources for the year totalling £853,541 (2020: £756,441) and resources expended totalling £820,175 (2020: £730,825).
Net incoming resources before gains for the year ended 31 March 2021 amounted to £33,366 (2020: £25,616).
Gains on investments for the year totalled £33,000 (2020: losses on investments £23,697).
As a result, the Society's total funds have increased from £385,505 as at 31 March 2020 to £451,871 as at 31 March 2021.
## **Reserves policy**
The trustees have considered the appropriate level of reserves for the Society and agreed that the levels needed to be increased to approximately 6 months of running costs.
The trustees believe that it is necessary to continually review this requirement to ensure that the Society has sufficient resources to sustain the standard of accommodation, care and support to its tenants in the event of funding changes, unplanned vacancies or the cost of redundancies in the event of contract termination necessitating the winding up of the Society. This measure ensures that the Society acts in a prudent manner with regard to the financing of its day-to-day activities.
## **Future developments**
The organisation will continue to deliver a wide range of mental health support services to the people of Dudley in a variety of settings and resume our social inclusion programme which will include: -
1. Providing established supported living accommodation.
2 Expanding social networks for people with enduring mental health needs.
3. Encouraging friendships to develop outside of mental health services.
4.Provide opportunities for people to experience new adventures and broaden their horizons, i.e., participating in holiday within the UK.
For people with mental health problems to recover and rebuild their lives they need access to those social, economic, educational, recreational and cultural opportunities, and physical health services, that most citizens take for granted.
Through partnership working, organisations from all sectors can build the bridges required to support community participation, active citizenship and build social capital. A sense of personal identity, aside from ill health or disability, supports recovery and inclusion. We believe that people with mental health problems are more than just a diagnosis and have valuable contributions to make, not just needs to be met. Services should support people to access the opportunities available within the many communities to which they belong and to make valued contributions as active citizens.
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRATEGIC REPORT**
## **Strategic Aims**
These are the strategic aims that define the work of the organisation:
- “Promoting good mental health and preventing poor mental health - helping people lead better lives as equal citizens"
## **Why it's important**
Mental well-being is fundamental to a person's quality of life. It is linked to good physical health, better cognitive and physical functioning, increased productivity, better interpersonal relationships, longer life expectancy and greater capacity to deal with stress and adversity
We aim to reduce the impacts of mental disorder in adulthood which can be the cause of:
- unemployment
- debt problems
- smoking prevalence
- an increase in the risk of physical health problems especially heart disease and cancer.
- To fully support and implement the National Statement of Expectations (NSE) for supported housing that set out the government's vision for ways of working and makes recommendations for standards in accommodation. This is part of our work to demonstrate quality and value for money.
Supported housing provides crucial help to some of the most vulnerable people in our country. It has an enormous positive impact on an individual's quality of life: from their physical and mental health to their engagement with the community.
Dudley Borough has a small number of supported housing services for people with a mental health illness; therefore, it can be difficult to find suitable services for the range of needs people present with.
## We will also endeavour to:
- Advance our reputation and position to be the preferred choice for referrals due performance and quality.
- Be an employer of choice.
- Provide specialist developmental mental health and social inclusion training to staff on an annual basis.
- To maintain an occupancy rate of over 95%.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Wordsley Housing Society is a company limited by guarantee in England (registered company number 02537864) which was incorporated on 7 September 1990 and achieved charitable status on 11 December 1990 (registered charity number 1001178).
The Society was established under a Memorandum of Association, which established the objects and powers of the Society, and a Board of Trustees, which acts for and in the name of the Society, governs the Society under its Articles of Association.
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**WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
Trustees are recruited through an open process of selection and are appointed at the Annual General Meeting for a period of three years after which they may stand for re-election.
The Society endeavours to recruit trustees with appropriate skills and local knowledge who will make a positive contribution to the work of the Society.
As the Society is incorporated as a company limited by guarantee, the trustees are deemed to be directors of the Society.
## **Organisational structure**
The Society's Board of Trustees consists of up to six members and is comprised of the Chairman, Deputy Chairman and other elected trustees all of whom are unpaid.
The Board of Trustees would meet bi-monthly throughout the year and day to day responsibility for the management of the Society rests with the manager who is directly accountable to the Board of Trustees. However due to the pandemic the manager kept the board informed via email initially until we had the facilities to hold Zoom meetings.
The Board of Trustees retains ultimate control over all aspects of the Society's work and ensures that its financial and legal responsibilities are properly fulfilled.
All trustees give their time voluntarily and receive no benefits from the Society.
## **Induction and training of new trustees**
New trustees receive a trustee handbook and undergo an induction process to brief them on their legal obligations and responsibilities.
New trustees undertake a skills audit and are asked to identify any training needs, which are addressed either by in-house training sessions or by encouraging them to attend appropriate external training events.
## **Risk management**
The Board of Trustees has overall responsibility for establishing and maintaining the Society's system of internal control and for reviewing its effectiveness.
The system of internal control is designed to manage key risks and to provide reasonable assurance that planned business objectives and outcomes are achieved.
It also exists to give reasonable assurance about the preparation and reliability of financial and operational information along with the safeguarding of the Society's assets and interests.
In meeting its responsibilities, the Board of Trustees adopts a risk-based approach to internal controls to ensure that all major risks that the Society is exposed to have been identified and reviewed and that procedures have been established to manage those risks.
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02537864 (England and Wales)
## **Registered Charity number**
1001178
## **Registered office**
30 Brook Street Wordsley Stourbridge West Midlands DY8 5YW
## **Trustees**
P D R John (Chairman) E M Walker (Vice-Chairman) Reverend C S Jones C P Gray A M Walsh - resigned 06.11.20 Cllr S J Waltho J Clarke (MBE)
## **Company Secretary**
K Barr
## **Senior Statutory Auditor**
Peter Smith ACA
## **Auditors**
J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
## **Solicitors**
Higgs and Sons 3 Waterfront Business Park Brierley Hill West Midlands DY5 1LX
## **Bankers**
Lloyds Bank plc 134 High Street Stourbridge West Midlands DY8 5AF
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## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Wordsley Housing Society 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, J W Hinks LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 2 August 2021 and signed on the board's behalf by:
........................................................................ P D R John (Chairman) - Trustee
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **Opinion**
We have audited the financial statements of Wordsley Housing Society (the 'charitable company') for the year ended 31 March 2021 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 March 2021 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.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **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.
## **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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and discussed the policies and procedures regarding compliance. Specific areas considered were as follows:
- Enquiring with management and others to gain an understanding of the organisation itself including operations, financial reporting and known fraud or error.
- Evaluating and understanding the internal control system.
- Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear.
- Testing documentation supporting account balances or classes of transactions.
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected all irregularities including those leading to material misstatements in the financial statements or non-compliance with regulation, even though we have properly planned and performed our audit in accordance with auditing standards. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
Peter Smith ACA (Senior Statutory Auditor) for and on behalf of J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH Date: 2 August 2021
Page 13
## **WORDSLEY HOUSING SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**13**
**Charitable activities**
4
Grants receivable
**23,939**
Fees receivable for care and support
**426,598**
Rent and service charges
**355,477**
Investment income
3
**5,730**
Other income
**904**
**Total**
**812,661**
**EXPENDITURE ON**
**Charitable activities**
5
Charitable activities
**657,193**
Support costs
**122,102**
**Total**
**Surplus before gains/(losses)**
**779,295**
**33,366**
Net gains/(losses) on investments
**33,000**
**NET INCOME**
**66,366**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**385,505**
**TOTAL FUNDS CARRIED FORWARD**
**451,871**|Restricted
funds
£
**-**
**40,880**
**-**
**-**
**-**
**-**
**40,880**
**29,147**
**11,733**
**40,880**
**-**
**-**
**-**
**-**
**-**|**2021**
**Total**
**funds**
**£**
**13**
**64,819**
**426,598**
**355,477**
**5,730**
**904**
**853,541**
**686,340**
**133,835**
**820,175**
**33,366**
**33,000**
**66,366**
**385,505**
**451,871**|2020
Total
funds
£
-
-
401,615
349,006
5,559
261
756,441
608,155
122,670
730,825
25,616
(23,697)
1,919
383,586
385,505|
|---|---|---|---|
The notes form part of these financial statements
Page 14
## **WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864)**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
**3,767**
Investments
14
**158,747**
**162,514**
**CURRENT ASSETS**
Debtors
15
**53,915**
Cash at bank and in hand
**310,373**
**364,288**
**CREDITORS**
Amounts falling due within one year
16
**(74,931)**
**NET CURRENT ASSETS**
**289,357**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**451,871**
**NET ASSETS**
**451,871**
**FUNDS**
18
Unrestricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2021**
**Total**
**funds**
**£**
**3,767**
**158,747**
**162,514**
**53,915**
**310,373**
**364,288**
**(74,931)**
**289,357**
**451,871**
**451,871**
**451,871**
**451,871**|2020
Total
funds
£
5,650
126,620
132,270
16,670
261,063
277,733
(24,498)
253,235
385,505
385,505
385,505
385,505|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 2 August 2021 and were signed on its behalf by:
.............................................
E M Walker (Vice-Chair) - Trustee
The notes form part of these financial statements
Page 15
## **WORDSLEY HOUSING SOCIETY**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of current asset investments
Sale of current asset investments
Interest received
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2021**
**£**
**42,707**
**42,707**
**(183,317)**
**184,190**
**5,730**
**6,603**
**49,310**
**261,063**
**310,373**|2020
£
31,276
31,276
(150,317)
-
5,559
(144,758)
(113,482)
374,545
261,063|
|---|---|---|
The notes form part of these financial statements
Page 16
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**||
|---|---|---|---|---|
||||**2021**|2020|
||||**£**|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||**66,366**|1,919|
||**Adjustments for:**||||
||Depreciation charges||**1,883**|2,824|
||(Gain)/losses on investments||**(33,000)**|23,697|
||Interest received||**(5,730)**|(5,559)|
||(Increase)/decrease in debtors||**(37,245)**|505|
||Increase in creditors||**50,433**|7,890|
||**Net cash provided by operations**||**42,707**|31,276|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1.4.20|Cash flow|**At 31.3.21**|
|||£|£|**£**|
||**Net cash**||||
||Cash at bank and in hand|**261,063**|**49,310**|**310,373**|
|||**261,063**|**49,310**|**310,373**|
||**Total**|**261,063**|**49,310**|**310,373**|
The notes form part of these financial statements
Page 17
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **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, with the exception of investments which are included at market value.
The financial statements are prepared in sterling, which is the functional currency of the charity. 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.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest receivable. Interest income is recognised using the effective interest rate method and dividend income is recognised as the Charities right to receive payment is established. Investment management costs are included in expenditure.
## **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.
## **ALLOCATION AND APPORTIONMENT OF COSTS**
Costs are allocated between direct charitable and other expenditure according to the nature of the cost. Where items involve more than one category, they are apportioned between the categories according to the nature of the cost. A detailed analysis of the allocation costs is given in the notes to the accounts.
## **TANGIBLE FIXED ASSETS**
Depreciation is calculated so as to write off the cost of an asset, less its estimated useful residual value, over the useful economic life of that asset as follows.
Computer equipment - 25% straight line method. Fixtures and fittings - 25% and 33.3% reducing balance method.
## **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.
continued...
Page 18
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES - continued**
## **FUND ACCOUNTING**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
The Society operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Society. The annual contributions payable are charged to the statement of financial activities.
## **INVESTMENTS**
Current asset investments comprise fixed term deposits and are stated at cost plus accrued interest earned up to the balance sheet date. Investments are held to provide an investment return for the charity.
## **GOVERNMENT GRANTS**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met, and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
## **OPERATING LEASE AGREEMENTS**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against surpluses on a straight-line basis over the period of the lease.
## **2. DONATIONS AND LEGACIES**
|**2.**|**DONATIONS AND LEGACIES**|||
|---|---|---|---|
|||**2021**|2020|
|||**£**|£|
||Donations and gifts|**13**|-|
|**3.**|**INVESTMENT INCOME**|||
|||**2021**|2020|
|||**£**|£|
||Bank interest receivable|**2,759**|4,664|
||Dividends received|**2,971**|895|
|||**5,730**|5,559|
continued...
Page 19
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|Activity
Grants receivable
Grants receivable
Fees received from residents Fees receivable for care and support
Fees received from residents Rent and service charges
Grants received, included in the above, are as follows:
Dudley MBC
Grants under £1,000|**2021**
**£**
**64,819**
**426,598**
**355,477**
**846,894**
**2021**
**£**
**63,186**
**1,633**
**64,819**|2020
£
-
401,615
349,006
750,621
2020
£
-
-
-|
|---|---|---|
## **5. CHARITABLE ACTIVITIES COSTS**
|Charitable activities
Support costs|Direct
Costs (see
note 6)
£
**686,340**
**-**
**686,340**|Support
costs (see
note 7)
£
**-**
**133,835**
**133,835**|Totals
£
**686,340**
**133,835**|
|---|---|---|---|
||||**820,175**|
continued...
Page 20
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **6. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|**DIRECT COSTS OF CHARITABLE ACTIVITIES**|||
|---|---|---|
|Staff costs
Covid19 Expenditure
Rent, rates and water
Light and heat
Repairs and maintenance
Insurance
Motor and travel costs
Food costs
Cleaning costs
Recreational and occupational
Depreciation|**2021**
**£**
**481,651**
**26,697**
**48,482**
**27,054**
**41,717**
**5,067**
**162**
**46,958**
**4,325**
**2,344**
**1,883**
**686,340**|2020
£
426,294
-
54,945
20,682
37,381
5,209
405
47,652
9,073
3,690
2,824|
|||608,155|
## **7. SUPPORT COSTS**
|Wages
Social security
Pensions
Hire of equipment
General expenses
Legal and professional
Telephone
Subscriptions
Security
Printing, postage and stationery
Staff training costs
Bad debts
Auditors' remuneration|**2021**
**£**
**63,940**
**6,399**
**12,522**
**9,710**
**5,382**
**4,559**
**2,718**
**3,134**
**3,711**
**10,004**
**8,026**
**130**
**3,600**
**133,835**|2020
£
**61,082**
**6,045**
**12,334**
**9,693**
**3,124**
**5,068**
**2,881**
**3,111**
**3,117**
**8,124**
**3,274**
**1,457**
**3,360**|
|---|---|---|
|||**122,670**|
continued...
Page 21
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2021**|2020|
|---|---|---|
||**£**|£|
|Auditors' remuneration|**3,600**|3,360|
|Depreciation - owned assets|**1,883**|2,824|
|Hire of plant and machinery|**9,710**|9,693|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **TRUSTEES' EXPENSES**
During the year expenses totalling £nil (2020 - £40) were paid to one trustee, to provide transport to attend board meetings.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**2021**
**£**
**534,951**
**17,039**
**12,522**
**564,512**|2020
£
469,474
23,947
12,334|
|---|---|---|
|||505,755|
The average monthly number of employees during the year was as follows:
||**2021**|2020|
|---|---|---|
|Management, administration and support|**35**|31|
No employees received emoluments in excess of £60,000.
continued...
Page 22
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
All of the funds in the Statement of Financial Activities in 2020 were unrestricted.
## **12. PENSION COMMITMENTS**
The Society contributes to the individual pension plans of certain employees. The assets of these schemes are held separately from those of the Society in independently administered funds.
The total contributions for the year amounted to £12,490 (2020 - £12,334) and outstanding contributions as at 31 March 2021 amounted to £nil (2020 - £nil).
## **13. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020 and 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**14.**
**FIXED ASSET INVESTMENTS**
Investments
There were no investment assets outside the UK.
Investments (neither listed nor unlisted) were as follows:
Brought forward
Investment additions
Adjustments/Transfers
Capital decrease
Revaluations|Fixtures
and
fittings
£
**100,444**
**94,794**
**1,883**
**96,677**
**3,767**
5,650|Computer
equipment
£
**14,711**
**14,711**
**-**
**14,711**
**-**
-
**2021**
**£**
**158,747**
**2021**
**£**
**126,620**
**-**
**(621)**
**(252)**
**33,000**
**158,747**|Totals
£
**115,155**
**109,505**
**1,883**
**111,388**
**3,767**
5,650
2020
£
126,620
2020
£
-
150,317
-
-
(23,697)
126,620|
|---|---|---|---|
continued...
Page 23
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. FIXED ASSET INVESTMENTS - continued**
All listed investments are carried at their fair value which is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.
The historical cost of listed investments amounted to £149,444 (2020: £150,318).
## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
Accrued income
Prepayments|**2021**
**£**
**51,614**
**659**
**1,513**
**129**
**53,915**|2020
£
12,935
-
3,382
353|
|---|---|---|
|||16,670|
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Other creditors
Accrued expenses|**2021**
**£**
**21,753**
**8,379**
**35,170**
**9,629**
**74,931**|2020
£
2,003
6,122
8,579
7,794|
|---|---|---|
|||24,498|
## **17. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years|**2021**
**£**
**32,256**
**48,489**
**80,745**|2020
£
33,980
59,476|
|---|---|---|
|||93,456|
continued...
Page 24
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **18. MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**|||
|---|---|---|
|Net
At
movement
1.4.20
in funds
£
£
**Unrestricted funds**
General fund
**85,491**
**65,849**
Designated fund - Fundraising
**14**
**517**
Designated fund - Reserves fund
**300,000**
**-**
**385,505**
**66,366**
**385,505**
**66,366**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**787,818**
**(754,969)**
Designated fund - Fundraising
**904**
**(387)**
Designated fund - Covid Grant from DMBC
**22,305**
**(22,305)**
Designated fund - Tenant Grant (Telford &
Wrekin Council)
**1,634**
**(1,634)**
**812,661**
**(779,295)**
**Restricted funds**
Infection Control Grant Round 1 from
Dudley MBC
**10,483**
**(10,483)**
Infection Control Grant Round 2 from
Dudley MBC
**10,334**
**(10,334)**
Rapid Testing Discretionary Fund
**4,266**
**(4,266)**
Workforce Capacity Grant through Dudley
CVS paid for by Dudley MBC
**15,797**
**(15,797)**
**40,880**
**(40,880)**
**TOTAL FUNDS**
**853,541**
**(820,175)**|Transfer
between
funds
£
**(150,000)**
**-**
**150,000**
**-**
**-**
Gains and
losses
£
**33,000**
**-**
**-**
**-**
**33,000**
**-**
**-**
**-**
**-**
**-**
**33,000**|At
31.3.21
£
**1,340**
**531**
**450,000**|
|||**451,871**|
|||**451,871**|
||
|
Movement
in funds
£
**65,849**
**517**
**-**
**-**
**66,366**
**-**
**-**
**-**
**-**
**-**
**66,366**|
continued...
Page 25
**WORDSLEY HOUSING SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **18. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fund - Fundraising
Designated fund - Bequeathed income
Designated fund - Reserves fund
**TOTAL FUNDS**|At 1.4.19
£
82,782
89
715
300,000
383,586
383,586|Net
movement
in funds
£
2,709
(75)
(715)
-
1,919
1,919|At
31.3.20
£
85,491
14
-
300,000
385,505
385,505|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
756,441
(730,035)
(23,697)
Designated fund - Fundraising
-
(75)
-
Designated fund - Bequeathed income
-
(715)
-
756,441
(730,825)
(23,697)
**TOTAL FUNDS**
756,441
(730,825)
(23,697)
A current year 12 months and prior year 12 months combined position is as follows:
Net
Transfer
At
movement
between
1.4.19
in funds
funds
£
£
£
**Unrestricted funds**
General fund
82,782
68,558
(150,000)
Designated fund - Fundraising
89
442
-
Designated fund – Bequeathed income
715
(715)
-
Designated fund - Reserves fund
300,000
-
150,000
383,586
68,285
-
383,586
68,285
-|
Movement
in funds
£
2,709
(75)
(715)
1,919
1,919
At
31.3.21
£
1,340
531
-
450,000|
|---|---|
||451,871|
||451,871|
continued...
Page 26
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **18. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
1,544,259
(1,485,004)
Designated fund - Fundraising
904
(462)
Designated fund - Bequeathed income
-
(715)
Designated fund - Covid Grant from DMBC
22,305
(22,305)
Designated fund - Tenant Grant (Telford &
Wrekin Council)
1,634
(1,634)
1,569,102
(1,510,120)
**Restricted funds**
Infection Control Grant Round 1 from
Dudley MBC
10,483
(10,483)
Infection Control Grant Round 2 from
Dudley MBC
10,334
(10,334)
Rapid Testing Discretionary Fund
4,266
(4,266)
Workforce Capacity Grant through Dudley
CVS paid for by Dudley MBC
15,797
(15,797)
40,880
(40,880)
**TOTAL FUNDS**
1,609,982
(1,551,000)|Gains and
Movement
losses
in funds
£
£
9,303
68,558
-
442
-
(715)
-
-
-
-
9,303
68,285
-
-
-
-
-
-
-
-
-
-
9,303
68,285|
|---|---|
## **Purpose of unrestricted funds**
## General fund
This fund represents the free funds of the charity that are not designated for particular purposes.
## - Designated fund Fundraising
This fund represents money that was raised by a member of staff and will be used for the sole use of tenants to enable them to participate in activities and events as part of our social inclusion programme.
## Designated fund - Reserve fund
This designated fund represents the approximate costs that would be incurred if the Society, for whatever reason, is unable to continue operating.
## - Designated fund Bequeathed income
In October 2017, we received £1,085.50, from Mrs E Michaelman's estate; she was the mother of a tenant who had previously lived here. This money will solely be used for the benefit of the other tenants within the home.
## - Designated fund Covid Grant from Dudley MBC
These funds were provided by Dudley MBC Commissioning Service to assist providers with managing the costs associated with increased financial pressures due to the Covid-19 pandemic this included purchasing Personal Protective Equipment (PPE), increasing staffing levels and frequent cleaning of high-risk touch sites in line with government guidance.
continued...
Page 27
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **18. MOVEMENT IN FUNDS - continued**
## Designated fund - Tenant Grant from Telford & Wrekin Council
These funds were used to provide training to staff on infection prevention & control training, purchasing PPE, staff polo shirts and cleaning products recommended by public health
## **Purposes of restricted funds**
Infection Control Grant Round 1 from Dudley MBC
These funds were provided by Dudley MBC to assist with costs associated with reducing the risk of transmission to tenants, staff and any other people who need to enter the premises. We also purchased a large Gazebo which enabled visits from relatives and other professionals to continue and provide an area for staff to take frequent breaks from wearing PPE.
## Infection Control Grant Round 2 from Dudley MBC
These funds were used to provide taxi services to staff to prevent them from using public transport. It also funded the cost of extra cleaning staff. Screens were purchased to enable face to face meetings to take place along with additional outdoor furniture to encourage everyone to spend time outdoor in a well-ventilated environment.
## Rapid Testing Discretionary Fund
This fund was used to pay for staff costs associated with training and carrying out, registering and recording Lateral Flow Tests.
## Workforce Capacity Grant through Dudley CVS paid for by Dudley MBC
The grant enabled the organisation to employ additional support staff. This enabled us to increase the levels of support to tenants and provide services safely it also enabled us to provide additional activities to keep the tenants engaged and entertained and staff were confident in carrying out their roles.
We were able to purchase additional supplies of cleaning products and equipment i.e., steamers, PPE which were needed due to the increased cleaning schedules.
## Extension & Variant to infection Control Grant
These funds from Dudley MBC enabled us to maintain the enhanced cleaning schedules and increased staffing levels we require due to the Covid-19 Virus
## **19. RELATED PARTY DISCLOSURES**
## **Churches Housing Association of Dudley & District**
P D R John, a trustee of Wordsley Housing Society also serves as trustee of a charitable housing association called Churches Housing Association of Dudley & District (Housing Corporation Registration number: LH2916, Industrial and Provident Society number: 22545R).
A M Walsh, who was a trustee of Wordsley Housing Society until 6 November 2020, is the Chief Executive Officer of Churches Housing Association of Dudley & District.
During the year ended 31 March 2021 the following transactions occurred between the Society and Churches Housing Association of Dudley & District.
## Rent payable
Rent charges totalling £43,130 (2020 - £42,097) were paid to Churches Housing Association Dudley & District.
continued...
Page 28
**WORDSLEY HOUSING SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **19. RELATED PARTY DISCLOSURES - continued**
## Other Charges
Contribution towards shower cubicle upgrades totalling of £20,500 (2020 - £nil) were paid to Churches Housing Association Dudley & District.
Amounts due from Wordsley Housing Society to Churches Housing Association Dudley & District As at the balance sheet date £20,500 (2020: £nil) was due to Churches Housing Association Dudley & District from the Society).
## **20. ULTIMATE CONTROLLING PARTY**
The charity is controlled by the trustees as listed in the Report of the Trustees.
## **21. COMPANY LIMITED BY GUARANTEE**
The Society is a charitable company limited by guarantee and does not have any share capital. The members of the charitable company are the trustees named in the trustees’ report of the financial statements. The liability of members is limited and shall not exceed £1. Any surplus on winding up is to be donated to a charity whose objects are of similar nature. The charitable company has taken advantage of section 60(1) of the Companies Act 2006 and deleted the word "Limited" from its name.
## **22. POST BALANCE SHEET EVENTS**
The worldwide outbreak of the COVID-19 virus represents a significant event since the end of the financial period. The impact of COVID-19 and the countermeasures being taken to suppress it are considered to be non-adjusting post year end events and therefore have not been taken into account in preparing the Balance Sheet as at 31 March 2021. Asset values continue to be subject to increased volatility due to the increased uncertainties. These factors will all impact the value of investments but a more precise estimate of the impact on asset values cannot be determined.
Page 29
**WORDSLEY HOUSING SOCIETY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations and gifts
**Investment income**
Bank interest receivable
Dividends received
**Charitable activities**
Grants receivable
Fees received from residents
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages and salaries
Social security costs
Rent, rates and water
Light and heat
Repairs and maintenance
Insurance
Motor and travel costs
Food costs
Cleaning costs
Recreational and occupational
Depreciation
**Support costs**
**Other**
Wages
Carried forward|2021
£
**13**
**2,759**
**2,971**
**5,730**
**64,819**
**782,075**
**846,894**
**904**
**853,541**
**471,011**
**10,640**
**48,482**
**27,054**
**41,717**
**5,067**
**162**
**46,958**
**4,325**
**2,344**
**1,883**
**659,643**
**63,940**
**63,940**|2020
£
-
4,664
895
5,559
-
750,621
750,621
261
756,441
408,392
17,902
54,945
20,682
37,381
5,209
405
47,652
9,073
3,690
2,824
608,155
61,082
61,082|
|---|---|---|
This page does not form part of the statutory financial statements
Page 30
## **WORDSLEY HOUSING SOCIETY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**Other**
Brought forward
Social security
Pensions
Hire of equipment
General expenses
Legal and professional
Telephone
Subscriptions
Security
Printing, postage and stationery
Staff training costs
Bad debts
Covid 19 expenditure
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Unrealised gains/(losses) on fixed asset
investments
**Net income**|2021
£
**63,940**
**6,399**
**12,522**
**9,710**
**5,382**
**4,559**
**2,718**
**3,134**
**3,711**
**10,004**
**8,026**
**130**
**26,697**
**156,932**
**3,600**
**820,175**
**33,366**
**33,000**
**66,366**|2020
£
61,082
6,045
12,334
9,693
3,124
5,068
2,881
3,111
3,117
8,124
3,274
1,457
-
119,310
3,360
730,825
25,616
(23,697)
1,919|
|---|---|---|
This page does not form part of the statutory financial statements
Page 31