REGISTERED COMPANY NUMBER: 02537864 (England and Wales} REGISTERED CHARrrY NUMBER: 1001178 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR WORDSLEY HOUSING soaErY J W Hinks LLP Chartered Accountants and StatLrtory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
WORDSLEY HOUSING SOCIErY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Pa8e Report of the Trustees I to 10 Report of the Independent Audftors 11 to 13 ststement ol Financlal Artlvltles 14 Balance Sheet Cash Flow Ststement 16 Notes to the Cash Flow statement 17 14otes to the Flnanclal Statements 18 to 27 Detalled Statement of Flnanclal Actlvltles 28 to 29
WORDSLEY HOUSING SOCIEfY (REGISTERED NUMBER: 02537864) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also direttors of the charty for the purposes of the Companies Act 2006. present their report with the financlal statements of the charity for'the year ended 31 March 2025. The trustees have adopted the provision5 of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effettlve l January 20191. Page I
WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864) REPORT OF THE TRUSTEES FORTHE YEAR ENDED 31 MARCH 2025 OBJEcllvES AND AcfiviTIES Our Wision Our vision 15 a world where people are not labelled or Judged for having a mental illness and are assisted to recover their independence. Our Mlsslon Our mission is to provide people who have a mental illness and associated problems in the Dudley borough with a seNice that= Provides person centred support packages that meet the needs of the individual. Empowers individua15 to reach their full potential by improving their confidence, self-esteem, hope and resilience. Encourages and provides opportunities for individuals to have choice and take control over their lives. Enables participation in a wide range of attivities and promotes community social inclusion. oBJEIVEs AND AIMS Wordsley Housing Society is a registered charity and prlvate limited company. The Society operates from premises owned by, and rented from, the Churches Housing Association of Dudley and District ICHADDI. The object5 of the Society are "to provide housing and associated amenities for discharged psychiatric patients and persons suffering from mental illness who are in necessitous circumstsnces." The maln buildin8 at 30 Brook Street in Wordsley was completed and opened In 1987 as a mental health residential care home in response to the predicted closure of two psychiatric hospitals in Dudley- Burton Road Hospital and Barnsley Hall Hospital. In March 2015, we transitioned from a resident5al care home to a supported livin8 service offerlng tenants more personal choice and control that comes from having a tenancy agreement. In 1996, the Society added an extension to the main building offering further accommodation and recreational space. Since then, three two-bed propertie5 have been added to our portfolio. two in 2002 and one In 2009. These homes provide tenants with the opportunity to experience independent living with reduced hours of support as a stepping stone before living completely Independently a5 integrated merrbers of the community. Through regular investment by the Soclety and CHADD, all bulldin8S, the surroundlng environment, and Ilvlng accommodations are decorated, furnlshed, and maintained to a very hi8h standard. Throughout 2024-2025, the followin8 improvements have been carried out: _ 6, 9 and 10 Sutton Street had new doors, fascias, and guttering fitted - 6 Sutton Street had a new bathroom fitted - The old circuit board at 30 Brook Street wa5 replaced by a new one New windows were installed in the office and activity room at 30 Brook Street New blinds were fitted in the newly decorated office5 and activity room Large conifer trees on the boundary of 30 Brook Street were removed and replaced with new secure fencing -The old analogue telephone system was replaced with an up to date VOIP system CCTV was installed to enhance the security of the building and tenants, property Purchases made by WHS to enhance the living and learning space and experiences for tenants included.. - A set of garden chairs - A new sofa in the quiet room - A new carpet in one of the lounges - A new computer and printer in the computer room of 30 Brook Street - The replacement bedroom furniture, beds, etc in some bedrooms Page 2
WORDSLEY HOUSING SOCIEf( (REGISTERED NUMBER: 025378641 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND AcrivmES Sl8nlflcant activities Our Accommodatlon reet - Su orted Livin 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, 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 tenants to use. The first floor offers bedsit-style single bedrooms with two people sharin8 a kltchen and bathroom, there is also a very pleasant communal lounge/ dlnin8 room available to use. re Inde Llvin with Su Our three, shared two bed properties on Sutton Street can accommodate 6 people and is located In a quiet cul-de-sac Sn close proximity to 30 Brook Street. The Su rte Livin Servi The service is re8lStered and regulated by the Care Quality Commission under the Health and Social Care Act 2008 to provide personal care as well a5 being commissioned by Dudley Metropolitan Borough Council IDMBCI for the provision of care and support for people with complex needs. In July 2023 the Care Quality Commission's review of the SocietV'5 work maintained the previously rated Standard of "Good" and reported that 'We reviewed the information and data available to us about Wordsley Housing and Independent Living Services. We have not found evidence that we need to reassess the rating at this Stage." Throughout 2024 - 2025 we provided accommodation and support to 27 individuals, most of whom were from the Dudley area, reaching a 97% occupancy rate. We recognise that everyone has individual needs and expectations, and we offer flexible person<entred support packages with the aim to maximise each tenant'5 life opportunitie5, achieve greater independence, develop daily living skills and promote social Inclusion. Tenants can receive support wlth the followin8 interventlons if necessary- the list Is not exhaustlve: Maintaining a tenancy Maintaining thelr mental, physical, and emotlonal health Looking after personal care - Supporting medication management - Attending appointments Developin8 daily living skills Mana8in8 finances Ibudgetin8, claiming benefits, and managing debtsl Providin8 access to leisure, cultural, and Social activities Iholidays, day trips, and celebration51 Building and sustaining social network5 and positive relationships Developing hobbies and Interest5 GainSng access to education, trainin& volunteerin& and employment opportunities Services are delivered by qualified and experienced staff who Share our recovery-based values and aim to supwrt people in a variety of ways that enable people to.. Develop ski115 and strategies that assist them in managing their mentsl illness and its symptoms Live independently without reliance on mental health services Build resilience, boost 5elf-esteem. and develop independent thinking and living skills Set realistic life goals Proceed to less sUPPOrted or independent accommodation if required and appropriate Page 3
WORDSLEY HOUSING SOCIEff (REGISTERED NUMBER: 02537864 REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2025 OBJEcfivES AND A1VITIEs Public benefit How our activitles deliver public benefit All 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 operate5 as a social busine55 in that it has no shareholder5, and all surpluses are used for the furtherance of its charitable aims. Soclal Investments Social Investment is about investing in people. It means havin8 policies designed to strengthen people's skills and capacities and supporting them to participate fully in employment and social life. Key policy areas include education, healthcare, trainin volunteerin& job-search assistance and rehabilitation. Everything we do represents a social Investment for both the tenants we seNe and the staff who support them. We encourage every tenant to maximise thelr development and participate fully within the communlty and every member of staff Is encouraged to develop their skills to enhance their Sense of wellbeln8 and feeling valued and respected. Protertlon of Vulnerable Adults We have reviewed our responsibilities as lald out in the Care Act 2014 and In the Chafity Commlssion's Guidance of Strategy for dealing with safeguarding issues in charitSes and confirm that we have complled with statutory requirements. The or8anisation is committed to the safeguarding of vulnerable adult5. We have policies 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 thi5, the organisation'5 values are relterated, ènd staff are reminded of the policie5 on safeguarding and whi5tleblowin8. Tenants a also Informed and educated on how to safe8uard themselves, this include5 what to look out for and how to report St. Page 4
WORDSLEY HOUSING SOCIEfi (REGISTERED NUMBER.. 02537864) REPORT OF THE TRuEEs FOR THE YEAR ENDED 31 MARCH 2025 OBJEcfivES AND AcnviTIES Our Staff Team Our Registered Manager, Ms Karen Barr, has extensive experience mana8ing mental health services and developing hlgh-quality responses to meet diverse needs. Working with a small team provlding administrative and financial 5UPPOrt, she ensures the effective operation of the entire staff team and the development and implementation of new initiatives. She oversees the day-to-dav management of the home and 5UPPOrts the Trustees by providin8 bi-monthly reports to the board. We have a well-trained, frlendly, dlverse team of 36 staff members, including a Deputy Manager, three SupeNi50rs, twenty-two Support Workers, two Cooks, a Finance Officer, an Admin Officer, and a Handyman/Gardener. All of them possess the right values, behaviours, and experience to work in the social and ment31 health care sector. We continue to manage our recrultment programme to ensure we appolnt the right people to deliver personèllsed Selee$ whlle maintaining our skilled, motSvated, and dedicated workforce. We adhere to safe recruitment and selettSon procedures. All staff members undergo an enhanced Disclosure and Barring Setvice IDBSI check and pre-employment checks to confirm their sultsbility to work with vulnerable Indivlduals. We believe that staff are our most valuable asset, Thelr exceptional skllls and abilities dlstlngulsh our organisatlon from competitors and contribute significantly to our success. All staff undergo induction, ongoing mandatory trainln& professional development, and performance reviews to ensure they stay up to date with recommended practice and regulatory requirements, enabling them to perform their roles and responsibilitie5 to the high standards we expect. The performance reviews also give the Senior team a chance to support and guide employees, a5 well as provide a space for them to share their problems and concerns. This also helps strengthen the team's relationshlps.. these conversations can reduce friction and other negative feelings that may arise from working in a potentially stressful environment. Recent quality assurance feedback from relatives has included:. When asked for suggestlon5 to improve the quality of care, they replied: 'The quality of care is good already, it doesn't need enhancing, When asked about the main strengths of the service, the followlng responses were glven: 'Very welcoming, very clean environment and care needs for individuals are met, 'Kindness to the residents, 'Helpfulness & desire to help & offer support & guidance, In the additional comments section, a daughter of one of ourtenants said.. 'The staff at Wordsley Houslng are ab501utely amazlng at everything they dol We can't thank them enough for everything they have donel, '1 will be eternally grateful to the staff at Wordsley for the care and understanding given to mv 50n. My son's illness is complicated. but I know he is looked after, - Thank you so much to whoever did Michelle's hair and let Mark be with her on thi5 occasion, at her morn'5 funeral, Page 5
WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Achievement and performance Charitable activities Ensuring our work delfvers our airn5 We review our aim5, objectives and activities annually. This review looks at our achievements and outcome5 over the previous 12 months. The succe55 of each attivity and the benefits they have brought to the people we support are fundgmental to our service delivery. Key aim5 and achievements forthe year included.. l. The introduction of Atlas E-mar, a digital medication management system, replaced the inefficient prattice of recording data on paper 2. To ensure thattenants and staff feel valued & supported 4. Improved and enhanced the accommodation and living space for the tenants and staff 5. Updated systems that include antivirus & cloud back-up 6, Contribute to delivering mental health SeiCe$ to the local community 7. Review all income and expenditure and agree uplifts to eligible and ineligible charges wlth Housin8 Benefit and tenants 8. Acquired and relnvest in two financial LndS to further increase our reserves and investments Improvements made to the seNlce throu8hout the year Sncluded.. Implementation of the Atlas E-mar system -conducted a tenant food choice analysis Launched a Culture and Diverslty Programme for every month of the year - Supported staff by restructuring the senior management team STRATEGIC REPORT These are the strategic aims that guide the or8anisation'5 work.. Promotin8 8ood mental health and preventing poor mental health- helping people lead better lives as equal citizens. ContSnue providin8 SUPPOrted ISvlng contracts for the local council. Continue to bulld relatlonships with other professionals that promote our services. Flnandal review Flnanclal p051tlon The Statement of Financial Activities for the year ended 31 March 2025 shows incoming resources for the year totalling £1.184.585 12024.. £1,020,867) and resources expended totallin8 £1,052,04512024.' E971,8921. Net incomin8 resources before gains on investments for the year ended 31 March 2025 amounted to £132,54012024.. £48,975). Gains on investments for the year amounted to £13.78012024: £9,975). As a result, the Society's total funds have increased from £540,179 as at 31 March 2024 to £686,499 as at 31 March 2025. Page 6
WORDSLEY HOUSING SOCIEfY IREG15TERED NUMBER: 02537864) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 srRATEGIC REPORT Financial revlew Reserves policy Most of our funding comes from Dudley MBC, which contributes to the individual's support and accommodation costs. Any surplus funds are either reinvested into the service or reserved for future use. The trustees have assessed the appropriate reseNe levels for the Society and agreed that they should be increased to roughly six months of operational costs. The trustees believe it is necessary to regularly review thi5 requirement to ensure that the Society has sufficient resources to sustain the standard of accommodation, care, and support for its tenants in case of funding fluctuations, unplanned vacancles, or redundancy costs arising from contract cancellations that may require winding up the Society. This approach helps the Soclety manage its finances responsibly in relatlon to its daily operations. Future developments The organisation will contSnue to offer a wide range of mental h¢alth sUPPOrt servlces to the people of Dudley across various settings, together with our social inclusion programrne that will include.. Dudley MBC informed the organisation of the New Supported Llvlng Framework and that all contracts with supportlng people wlll end, and a re-tendering of seNices will occur in the next two years Working wlthin the new Care Quality Commission framework We will also endeavour to.. Enhance our reputation and positlon to be the preferred choice for referrals through perfomiance and quality Be an employer of choice Provide speciali5ed developmental mental health and 50clal inclusion training to staff annually Aim to Sustain an occupancy rate above 95% STRUCTURE, GOVERNANCE AND MANAGEMEMr Governlng document Wordsley Housing Society 15 a company Ilmited by guarantee in England Iregi5tered company number 025378641 whSch was incorporated on 7 September 1990 and achieved charitable status on 11 December 1990 (registered charity number 10011781. The Society was established under a Memorandum of Associatlon, which established the objects and powers of the Society, and Board of Trustee5, which atts for and in the name of the Society, govems the Society under its Articles of A550ciation. Recrultment and appolntment of new trustees Trustees are selected through an open proces5 and are appointed at the Annual General Meetin8 for a three-year term, after whlch they may seek re*lection. The Soclety aims to recruit trustees with appropriate skills and local knowledge, who will make a positive contrlbution to its work. New trustees are given a trustee handbook and 80 through an induction process to brief them on thelr legal obligations and responsibilities. Page 7
WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER". 025378641 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRucfuRE, GOVERNANCE AND MANAGEMENT Or8an15atlonal structure We have a volunteer Board of Trustees who share ultimate responsibility for governing the Society and overseeing it5 management. All trustees dedicate their time voluntarily and receive no benefits from the Society. The Board consists of seven members, includin8 the Chairman. Deputy Chairman, Treasurer, and other eletted trustees who 5UPPOrt the Manager with the daily duties and management of the Society. The 8oard of Trustees meets every two months throughout the year, and the day-to-day management of the Society is the responsibility of the mana8er, who is directly accountsble to the Board of Trustees. The Board retains overall authority over all aspects of the Society's work and ensures that its financial and legal responsibilitie5 are properly fulfllled. The trustees fulfil thelr duty to ensure our investments are prudenL properly managed, and carry the appropriate level of risk to produce the desired return5. Slnce the Society is reglstered a5 a publlc Ilmlted company, the trustees are consldered to be its directors, Indurtlon and tralnln8 of new trustees New trustees receive a trustee handbook and undergo an inductlon process to brlef them on their legal obli8ations and responsibilities. Rlsk rnanagement The Board of Trustees holds overall responsibility for establishing and maintaining the Society's internal control system and for reviewing its effectiveness. The internal control system is intended to oversee major risks and offer reasonable assurance that the company's planned objective5 and outcomes are met. It also aims to provide reasonable assurance about the accuracy and rellablllty of financlal and operational inft)rmatlon. as well as the protectlon of the Society's assets and interests. In fulfilling it5 responsibilities, the 8oard of Trustees adopts a rlsk-based approach to Internal controls to ensure that all malor risks faced by the Society are identified and reviewed, and that procedures have been implemented to manage those risks. REFERENCE ANO ADMINISTRATIVE DAlLs Re8lstered Company number 02537864 (England and Wales) Reglstered Charity number 1001178 Re8lstered office 30 Brook Street Wordslev Stourbridge West Midlands DY8 5YW Page 8
WORDSLEY HOUSING SOCIEff (REGISTERED NUMBER: 02537864) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Trustees P D R John Ichalrmanl S J Waltho IMBEI Ivlce-chairl J H Clarke IMBEI ITrea5urerl E M Walker CPGray R Cook-monk AJ Graham Companysecretary K Barr Senlor Ststutory Audltor James Cruse FCA, FCCA, Bsc (Econl Hons Audltors J W Hlnks LLP Chartered Accountants and Statutory Audltors 19 Highfleld Road Edgbaston Blrmlngham 815 3BH Sollcftors Hl88s LLP 3 Waterfront Business Park Brierley Hlll West Mldland5 DY5 ILX Bankers Uoyds Bank plc 134 High Street Stourbridge West Midlands DY8 SAF STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees Iwho are a150 the dlrectors of Wordsley Hou5in8 Society for the purposes of company lawl are responslble for preparing the Report of the Trustees and the financial statements in accordance wlth applicable law and Unlted Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting Practlcel. Company law requires the trustees to prepare financial statements for each financial year whlch give a true and falr vlew of the State of affairs of the charitable company and of the incomlng 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; ObSee the methods ond principles in the Charity SORP; make judgements and estimate5 that are reasonable and prudent; prepare the financial Statements on the going concern basi5 unless it is inapproprlate to presume that the charitable company will continue in business. Pa8e 9
WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 02537864) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RESPONSIBIUTIES- contlnued The tmstees are responsible for keepin8 proper accounting records whlch d15cIose wlth 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 safeguardlng the a55ets 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 tru5tee5 are aware: there is no relevant audit Informatlon of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ou8ht to have taken to make themselves aware of any relevant audit informatlon and to establlsh that the auditors are aware of that Informatlon. AUDITORS The auditors, J W Hlnks LLP. will be proposed for re-appolntment at the forthcoming Annual General Meetlng. Report of the trustees, Incorporating a strateglc report, approved by order of the board of trustees, as the company directors, on 2 September 2025 and sl8ned on the board's behalf by: P D R John Ichaimianl - Trustee Pa8e 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIEfY (REGISTERED NUMBER: 02537864) Oplnlon We have audited the financial statements of Wordsley Housing Society Ithe 'charitable company'l for the year ended 31 March 2025 which comprise the Statement of Financial Artivities, the Balance Sheet. the Cash Flow Statement and notes to the financial ststements, 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 2025 and of its incoming resources and application of resources, inclLJdin8 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. Basls for opinlon We conducted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII 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 reporr, We are independent of the charitable company in accordance wlth the ethical requlrements 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 re5ponslbilities in accordance wlth these requirements, We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinlon. Concluslons relatln8 to goln8 concern In auditing the financial statements, we have concluded that the trustees, use of the golng concern basls 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 condltlons that, individually or collettively, 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 authori5ed for issue. Our responsibilities and the responsibilities of the trustee5 Wlth respect to going concern are described in the relevant sections of thi5 report. Other informatlon The trustees are responsible for the other information. The other Information comprlses the informatlon 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 explicltly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audlt of the financlal statement5, our responslbility is to read the other informatlon 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 mlsstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial statement5 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. Oplnions on other rnatters PSCrIbed by the Companles Act 2006 In our opinion, b35ed 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 5tatements- and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIEfi (REGISTERED NUMBER: 02537864) Matters on 4vhlch 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 mi5Statements in the Report of the Trustees. We have nothing to report in respect of the following matter5 where the Companies Act 2006 requires u5 to report to you if, in our oplnlon.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not Vislted by us; or the financial statements are not in agreement with the accounting records and retums,. 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. Responslblllties of trustees As explained more fully in the Statement of Trustees, Responsibilitie5, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statement5 and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the flnancial statement5, the trustees are responslble for assessing the charltable company'5 ability to continue a5 a goin8 concern, disclosing, as applicable, matters related to 80ing concern and usin8 the going concern basi5 of accountlng unless the trustees either intend to1Squidate the charitable company or to cease operatlons, or have no realistic alternative but to do so. Our fespomlbllltles for the audlt of the flnancial ststements Our objectives are to obtain reasonable assurance about whether the financial staternents 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 15 not a guarantee that an audit conducted in accordance with ISAS IUKI 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. The extent to which our procedure5 are capable of detecting irregularities, including fraud is detailed below: We identified areas of laws and re8ulatlons that could reasonably be expected to have a material effett on the flnancial statements and discussed the policies and procedures regardin8 compliance. Specific areas consldered were as follows., Enquiring with management and others to gain an understanding of the organisation itself Including operation5, financlal reportin8 and known fraud or error. Evaluating and unéer5tanding the Internal control system. Performing analytlcal procedures as expected or unexpected variance5 in account balances Of cla55e5 of transactions appear. Testing documentation 5UPPOrting account balances or classes of transactions. Owing to the inherent limitations of an audit, there 15 an unavoidable risk that we may not have detected all irregUlarleS including those leading to material misstatement5 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 cornpliance with a law or regulation is removed from the events and transaction5 reflerted in the financial statements, a5 we will be les5 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, ornission 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. Page 12
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WORDSLEY HOUSING SOCIETY (REGISTERED NUMBER: 025378641 Use of our report This report is made 501ely 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 worl for this report, or for the opinion5 we have formed. James Cruse A, FCCA, Bsc (Econl Hons (Senior Statutory Auditor) for and on behalf of J W Hink5 LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham BIS 38H 2 September 2025 Page 13
WORDSLEY HOUSIt4G SOCIETY 5rATEmE OF FINANCIAL ACTIVITIES IINCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 2025 Totsl funds 2024 Total funds Unrestricted funds Restricted funds Note5 INCOME AND ENOOWMENTS FROM Chafltsble artivities Grants receivable Fees receivable for care and support Rent and service charges 4,500 520,356 485,871 597.142 570.611 597,142 570,611 Investment income 16B32 16,832 10.140 Totsl 1,184,585 1,184,585 1,020.867 EXPENDITURE ON Charltable activitles Charitable activities Support costs 904,696 147,349 904,696 147.349 826,833 145,059 Totsl IA)52,045 1.052,045 971,892 Net 8ains on investment5 13.780 13.780 9,975 NEf INCOME 146.320 146,320 58,950 RECONCILIATION OF FUNDS Total funds brought fOard 540.179 540,179 481,229 TOTAL FUNDS CARRIED FORWARD 686A99 686,499 540,179 The notes form part ofthese financlal Statements Page 14
WORDSLEY HOUSING SOCIETY {REGISTERED NUMBER: 02537864) BALANCE SHEEr 31 MARCH 2025 2025 Totsl lunds 2024 Total funds Unrestrlcted funds Restrlcted funds Notes FIXED ASSErs Tangible assets Investments 12 13 11320 192.258 11,320 192.258 3,436 162,671 203.578 203.578 166,107 CURRENT ASSETS Debtors Cash at bank and In hand 14 n,387 437,12S 72,387 437.125 52,383 362,952 509.512 509,512 415,335 CREDITOR5 Amounts falling due wlthln one year 126,591) (26,5911 {41,2631 NET CURRENT A55Ers 482,921 482.921 374,072 TOTAL ASSEfs LESS CURRENT LIABILITIES 686.499 686,499 540,179 NEf ASSETS 686,499 686A99 540,179 FUNDS Unrestrlcted funds 17 686.499 540,179 TOTAL FUNDS 686,499 540,179 The flnanclal statements were approved by the Board of Trustees and authorised for Issue on 2 September 2025 and were slgned on Its behalf by: P D R John (Chairman) - Trustee The notes form part of these financlal ststements Pa8e 15
WORDSLEY HOUSING soaErY CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash Ilows from operatlng artlvitles Cash generatsd from operatlons 85,901 29,763 Net cash provlded by operatlng actlvltles 85,901 29,763 Cash flows from Investlng acthiltles Purchase of tanglble fixed a55ets Purchase of fixed asset Investments Sale of fl¥ed asset Investments Sale of flxed a55et Investments Interest rKeived (12.753) (78.045) 58364 374 I632 13.0081 125,1891 19,816 10,140 Net cash (used Inllprovlded by Investlng actlvitles (ii,n8) 1,759 Change In cash and cash equlvalents In the reportln8 perlod Cash and cash equfvalents at the be8lnnln8 of the reportlng perlad 74.173 31,522 362,952 331,430 Cash and cash equfvalents at the end of the reporting perlod 437,125 362,952 The notes form part of these financlal ststements Page 16
WORDSLEI HOUSING SOCIETY NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCIUATION OF INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net Inc(wne for the reportlng period (as per the Statement of Flnanclal Actlvities) Adjustments for: Depreciation charges Gain on investments Interest received Increase in debtors Decrease in creditor5 146.320 58,950 4,869 113.780) (16,832) (20.004) (14,672) 1,342 19.9751 110,140) 12,3391 18,0751 Net cash wovlded by operatlons 85,901 29,763 ANALYSIS OF CHANGES IN NEf FUNDS At 1.4.24 Cash flow At 31.3.Z5 Net cash Cash at bank and in hand 362.952 74.173 437.125 362,952 74.173 437.125 Total 362,952 74,173 437,125 The notes fomi part of these financial statements Page 17
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCoU1NG POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the chafltable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective l January 20191,, 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 sterlin& which is the functional currency of the charity. Monetary amounts In these financial statements are rounded to the nearest £. INCOME All income is rOgniSed in the Statement of Financial Activities once the charity has entltlement 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 asset5 for Investment purposes such as shares. It incudes dSvldends and interst receivable. Interest income is recognised using the effective interest rate method and dividend income is recogni5ed 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 15 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 basi5 and has been classified under heading5 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 resource5. 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 analysSs of the allocation costs is given in the note5 to the accounts. TANGIBLE FIXED ASss Depreciation is calculated so as to wrlte off the cost of an asset, le55 It5 estimated useful residual value, over the useful economic life of that asset as follows. Computer equipment Flxtures and fittin8S 25% strai8ht line method. - 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 objertives at the discretion of the trustees. Restricted funds can only be used for particular restrirted purp05e5 Wlthin the objects of the charity. Restrittions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. PENSION COST5 AND OTHER POST-RETIREMENT BENEFITS The Society operates a defined contribution pension scheme for employee5. The assets of the scheme are held separatelv from those of the Society. The annual contributions payable are charged to the statement of financial activities. Pa8e 18 continued...
WORDSLEY HOUSING SOCIEr NOTES TO THE FINANCIAL STATEMENTS- Contlnued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- contlnued 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. GOVERNME1 GRANT5 Govemment grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant condition5 wlll be met and the grants will be received. A grant that specifies performance conditions is recogni5ed in income when the performance conditions are met. Where grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognltion criterla are satisfied is reco8nised a5 a liability. OPERATING LEASE AGREEMENTS Rentals applicable to operatin8 leases where substantially all of the benefits and rlsks of ownershlp remain with the le550r are charged agalnst surpluse5 on a straight line basis over the period of the lease. INVESTMENT INCOME 2025 2024 Bank interest receivable Dividends received 11,931 4.901 4,928 5,212 16,832 10,140 INCOME FROM CHARITABLE AcfiviTIES 2025 2024 Activity Grants recelvable Fees receivable for care and support Rent and servite charges Grants receivable Fee5 received from residents Fees recelved from residents 4,500 520,356 485,871 597,142 570,611 1,167,753 1,010,727 Grant5 received, included in the above, are as follow5.. 2025 2024 West Midlands Care Association 4,500 Page 19 continued..
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THEYEAR ENDED 31 MARCH 2025 CHARITA8LE ACTIVITIES COSTS Dirett Costs (see note 51 Support costs (see note 61 Totals Charitable activities Support costs 904,696 904.696 147,349 147,349 904,696 147.349 IA152.045 DIREcf COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff costs Hire of equlpment RenL rates and water Light and heat Repair5 and maintenance Insurance Food costs Cleaning costs Recreational and occupational Motor and travel Depreciation 633,742 12,698 107,644 40,366 29,620 7,242 51,955 9,008 6,983 569 4,869 599,170 12,320 101,227 24,928 18,030 6,248 49,020 8,714 3,412 145 1,342 904.696 824,556 SUPPORT COSTS Governance costs Other Totals Support costs 141A09 147?49 Support costs are those costs that have been incurred in order to further the contlnued development of the Society's charitable attivities, Page 20 continued...
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THEYEAR ENDED 31 MARCH 2025 SUPPORT COSTS- continued Support costs, included in the above, are as follows: 2025 Support costs 2024 Total activities Wages Social security Pensions General expenses 76,936 8,146 17.612 445 78,132 8257 15,933 6,670 ¥ li Legal and professional Telephone Subscriptlons Securitv Printin8, Postage and stationery Staff trainln8 costs Bad debts Auditors, remuneration 6,325 5.735 5,075 2A92 7.731 5,925 587 5,940 SA42 5,219 4.055 2,399 10,920 4.537 5.7n 147349 147.336 NEf INCOMEIIEXPENDITURE) Net incomellexpenditurel is stated after chargingjlcreditingl: 2025 2024 Auditors, remuneration Depreciation- owned assets Other operating leases 5,940 4,869 12,698 5,772 1,342 12,320 TRUSTEES, REMUNERATION AND BENEFIT5 There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. TRUSTEES, EXPENSES During the year expenses totallin8 £2712024: £63) were reimbursed to trustees. Page 21 continued...
WORDSLEY HOUSING SOCIEri NOTES TO THE FINANCIAL STATEMENTS- continued FOR TrIEYEAR ENDED 31 MARCH 2025 srAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 675A19 43,405 17,612 647,920 37.639 15,933 736A36 701,492 The avera8e monthly number of employees during the year was as follows.. 2025 38 2024 37 Management, admlnlstratlon and support No employees received emoluments in excess of £60,000. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACtIVlTIES All of the funds In the Statement of Flnancial Artivities in 2024 were unrestricted. ii. PENSION COMMITMENTS The Society contributes to the individual pension plans of certaln employees. The a55ets of these schemes are held separately from those of the Society in independently administered funds. The total contributions for the year amounted to £17.612 12024: £15,933) and out5tandin8 contributions as at 31 March 2024 amounted to £1,87912024'. £3,0531. 12. TANG18LE FIXED ASSETS Fixtures and flttings Computer equipment Totals COST At l April 2024 Additions 100,660 6,420 17,719 6,333 118379 12,753 At 31 March 2025 107,080 24.052 131,132 DEPRECIATION At l April 2024 Charge for year 99,480 2,533 15.463 2,336 114,943 469. At 31 March 2025 102,013 17,799 119.812 NEf BOOK VALUE At 31 March 2025 5P67 6,253 IL320 At 31 March 2024 1,180 2,256 3,436 Page 22 continued...
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2025 13. FIXED Ass INVESTMENTS 2025 2024 Investments 192,2Yd 162,671 There were no investment a55ets outside the UK. Investments Inelther Ilsted nor unlisted) were as follows: 1025 2024 Brought forward Investment additions Investment d15posals Revaluation5 162,671 87,886 168.2051 9,906 147,323 25,189 119,8161 9,975 192,258 162,671 All listed Investments are carrled at their fair value which is determined by reference to the quoted prlce for identical assets In an active market at the balance sheet date. The h15torical cost of listed investments amounted to £178,02612024: £152,807). DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Accrued income Prepayments 47,027 25,231 129 38,417 10,573 3,393 72,387 52,383 Page 23 continued...
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL sTATEmES- contlnued FOR THE YEAR ENDED 31 MARCH 2025 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Trade creditors Social security and other tsxes Other creditors Accrued expenses 5.274 9,380 8,884 3,862 19.137 6,675 14,642 26,591 41,263 16. LEASING AGREEMENTS MlnSmum lease and commitment payments under non<ancellable arrangements fall due as follows.. 2025 2024 Within one year Between one and flve years 106,268 lo958 103,383 210,070 215326 313,453 17. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund Designated fund- Reserves fund 55,179 485,IXIO 146,320 ZOIA99 485M)O 540,179 146,320 686A99 TOTAL FUNDS 540,179 146,320 686,499 Net movement in funds, included In the above are as follows: Incoming resources Resources expended Galns and losse5 Movement in funds Unrestrlcted funds General fund 1,184,585 {IX152.045) 13,780 146,320 TOTAL FUNDS 1,184,585 {1,05Z.045) 13.780 146.320 Page 24 continued...
WORDSLEY HOUSING SOCIETY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- contlnued Comparatives tor movement in funds Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestrlcted fvnds General fund Designated fund- Reserves fund 31,229 450,000 58,950 135,OCKII 35,000 55,179 485,000 481,229 58,950 540,179 TOTAL FUNDS 481,229 S8,950 540,179 Comparative net movement In funds, included in the above are a5 follows,. Incoming resources Resources expended Gains and losses Movement in funds Unrestrlrted fund5 General fund 1,016,367 1967.3921 9.975 58,950 Restricted funds West Mldland Care Association 4,5(Ki 14,5001 TOTAL FUNDS 1,020,867 1971,8921 9,975 58,950 A current year 12 months and prior year 12 months combined positlon Is as follows.. Net movement in funds Transfer5 between fund5 At 31.3.25 At 1.4.23 Unre5trlcted funds General fund Designated fund - Reserves fund 31,229 450,TrJO 205,270 135,0001 35,000 201,499 485,000 481,229 205,270 686,499 TOTAL FUNDS 481,229 205,270 686,499 Page 25 continued...
WORDSLEY HOUSING soaErf NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMEhrr IN FUNDS- contlnued A current year 12 month5 and prior year 12 months combined net movement in funds, included in the above are a5 follows: Incoming resources Resources expended Gains and 1055es Movement in funds Unrestrltted funds General fund 2,200,952 {2,019,4371 23,755 205,270 Restrlcted funds West Midland Care Association 4,500 14,5001 TOTAL FUNDS 2,205,452 12,023,937) 23,755 205,270 Pury>ose of unfestrfcted funds General fund Thi5 fund represents the free funds of the charlty that are not deslgnated for particular purposes. Desi na fund-R erv This designated fund represents the approximate costs that would be incurred If the Society, for whatever reason, is unable to continue operating. Purposes of restrlcted lund5 tmi Ass ion h Grant Adults Social Cère Transformation Fund from The Black Country ICS on behalf of NHS England and the Digitising social Care Programme IDISCI. These funds were awarded to the organisation to assist with the procurement & implementation costs of the Nourish digital social care system which is an NHS Assured Supplier of social care technology which is a requirement of the fund. Nourish was chosen because it was considered to be the most compatible to our service and enabled us to purchase five handsets and deliver tralning and provide additlonal admin time to successfully implement the system and transfer from a paper based system to a digital system, RELATED PARTY DISCLOSURES Lunch on the Run Llmlted P D R John, a trustee of Wordsley Housing society also served as trustee of a charitable company called Lunch on the Run Limited Icompany number.. 03736856. Charity number.. 10809C(JI. S J Alliband, a responsible individual of Wordsley Housing Society also served as trustee of Lunch on the Run Limited. During the year ended 31 March 2025 the following transactions occurred between the Society and Lunch on the Run mited. urch35e Buffets COSt5 totalling £nil12024.' £5051 were paid to Lunch on the Run Limited. Amount_5_due from Word51ey_Housing Society. 10 Lunch on the Run Limlted As at the balance sheet date £nil12024.' £nill was due to Lunch on the Run Limited. Page 26 continued...
WORDSLEY HOUSING SOCIEr NOTES TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2025 19. ULTIMATE CONTROLLING PARTY The charity 15 controlled by the trustees as listed in the Report of the Trustees. 20. COMPANY LIMITED BY GUARANTEE The Society is a charitable company limited by guarantee and does not have any share capital. The member5 of the charitable company are the trustees named in the trustees report of the financlal statements. The liability of members is Ilmited and shall not exceed £1. Any surplus on winding up is to be donated to a charity whose oblects are of 5imllar nature. The charitable company has taken acfvantage of section 60{11 of the Companies Act 2006 and deleted the word "Limited" from Its name. Page 27
WORDSLEY HOUSING SOCIETY DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME ANO ENDOWMENTS Imiestment Income Bank interest receivable Dlvldends received 11,931 4,901 4,928 5,212 16.832 10,140 Charftable actlvitles Grants receivable Fees received from residents 4,500 1,006,227 1.167,753 1.167.753 1,010,727 Total Inwmin8 resources 1,184,585 1,020,867 EXPENDITURE Charltsble artlvities Wages and Salaries Social security costs Hire of equipment Rent, rates and water ght and heat Repairs and maintenance Insurance Food costs Cleaning costs Recreational and occupational Motor and travel Depreciation 598A83 35,259 12,698 107,644 40,366 29,620 7,242 51.955 9.008 6.983 569 4,869 569,788 29,382 12,320 101,227 24,928 18,030 6,248 49,020 8,714 3,412 145 1,342 904,696 824,556 Support costs Other Wages Social securlty Pensions General expenses Legal and professional Telephone Subscriptions Security Carried forward 76,936 8.146 17,612 4.845 6,325 5,735 5,075 2A92 127,166 78,132 8,257 15,933 6,670 5,442 5,219 4,055 2,399 126,107 This page does not form part of the statutory financial statements Page 28
WORDSLEY HOUSING SOCIEPI DEfAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Other Brought ft)rward Printin& postage and stationery Staff training costs Bad debts 127,166 7,731 5.925 587 126,107 10,920 4,537 141.409 141,564 Governance costs Auditors, remuneration 5.940 5.772 Total resources expended 1,052,045 971,892 Net Income before galns and10sses 132.540 48.975 Reallsed reco8nlsed galns and losses Unrealised gainslllossesl on f1xed a55et Investments Realised 8ains/llossesl on fixed asset investments 12,839 12,8641 3,874 Nrt Ineome 146,320 58,950 This page does not form part of the Statutory financial statements Pa8e 29