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2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1017599

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

THRESHOLD HOUSING LINK

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Statement of Financial Position 13
Statement of Cash Flows 14
Notes to the Statement of Cash Flows 15
Notes to the Financial Statements 16 to 24

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).

Page 1

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES

Threshold Housing Link (established 1972) is a charity based in Swindon, Wiltshire, that actively tackles the multiple issues connected to homelessness by providing Supported Accommodation projects for single homeless rough sleepers and sofa surfers.

SUPPORTED RESETTLEMENT ACCOMMODATION PROJECTS

Our supported accommodation provides service users, who are predominantly rough sleepers and sofa surfers at the time of accessing our assistance. They often have complex issues requiring assistance which are related to substance misuse, unmet mental health needs, social exclusion, a loss of self-esteem due to being homeless, a decline in physical and emotional wellbeing and difficulty sustaining positive relationships due to the entirety of their experiences. Our supported accommodation has a pro-active personal development and resettlement programme to enable move-on from hostel accommodation into more independent living.

Threshold provides encouragement and training to help homeless people move from the streets to a home, supporting them to regain independence and develop their ability to take advantage of or (re)join education, employment or training opportunities. All residents undergo a comprehensive needs assessment prior to taking up their accommodation and a support plan is co-constructed with them by our staff, which is reviewed regularly throughout the resident's stay. Our needs assessments are evidence based and person-centred, focusing on the resident's desired outcomes, particularly outcomes which allow them to live well and increasingly become less reliant on support services towards total independent and sustainable living. During this reporting period, Threshold embarked upon a programme to accelerate the growth in the provision of supported accommodation, increasing our support to fifty-four individuals who were accommodated in Threshold's resettlement accommodation projects.

Thanks to the generosity of Friends of Threshold, including Tesco (Ocotal Way, Swindon), Waitrose and Partners Swindon, Alan Butler and all the participants of RunVEMBER, and many local retail stores and private individuals who channelled donations of goods and money to Threshold, our team were consequently able to distribute food and essential supplies to people in need.

OUR PURPOSE AND OBJECTIVES

The charity's purposes are set out in the objects contained in the charity's Constitution.

The objects of the CIO are:

The relief of poverty, hardship, sickness and old age in particular of persons who:

(a) by reason of mental or physical infirmity are unable to fulfil their duties as citizens or their obligations to their employers: or are

(b) homeless, ex-offenders and those with substance misuse issues and/or addictions.

Our aims

Threshold's aims are to:

  1. To prevent homelessness in Swindon

  2. To alleviate the associated social exclusion of homelessness and actively asset recovery from its effects

  3. Influence policy that affects homeless and socially excluded people

Our mission statement

To end homelessness. To help vulnerable people create a better life and independence.

Page 2

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The Trustees met to hold Management Board Meetings eight times during the year, to discuss management reports, review operational performance, discuss plans for development and service improvement. The Board must ensure it is undertaking their Governance responsibilities and comply with the functions and duties of charity trustees as specified in its Charitable Incorporated Organisation rules and regulations.

THE FOCUS OF OUR WORK

Throughout the year Threshold continued to focus on the provision, operation and management of services to assist those who are homeless. All our schemes and services can be accessed by self-referrals or via direct referral from other agencies and the Local Authority.

We increased the number of properties dedicated to supporting homeless people from four to thirteen different properties during the year. Four of them are Threshold owned properties and the remaining nine are properties rented direct from landlords.

The strategies we use to meet our objectives include:

SIGNIFICANT ACTIVITIES Rough Sleeping

During the reporting period Swindon continued to see a considerable number of people sleeping rough, although provision of rapid emergency accommodation lessened the duration most would sleep rough before acquiring accommodation following a Homelessness Reduction Act (HRA) assessment by the Local Authority. Increased central government funding continued to flow to Local Authorities following 'Everyone In' from the Rough Sleeper Initiative and then the Next Steps Accommodation Programmes (NSAP). Swindon was a significant recipient of Central Government Funding which provided for extensive temporary accommodation of the homeless in local hotels and B&B's for families and homeless individuals.

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THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Threshold undertook the November 2022, Swindon rough sleeper's street count ('rough sleeper snapshot') in partnership with Swindon Borough Council, which identified ten people as sleeping rough on that night, a marginal increase on the previous year. The annual national rough sleeper snapshot provides only an indication of who was seen on that given night by a team of inspectors and only occasionally takes into consideration those not seen but known to be rough sleeping. This method of estimation and its inherent weaknesses must be kept in mind as the snapshot figure is not truly representative of the number of rough sleepers, or even a good indication as an average. The indirect costs associated with the consequences of rough sleeping (e.g. physical health and mental health problems, drug/alcohol misuse, crime and so forth) can be significant. Sleeping rough is dangerous and damaging to both individuals and communities alike. The longer someone sleeps rough, the worse their problems will likely become and the costlier it is to resolve those problems once the individual accesses support services available to them.

Social Enterprise and Day Centre Hub

During this reporting period, development of the space - 'Threshold WORKS' - was hampered by the resignation of a key staff member allocated to initiate the project, so renovation of the space and decanting of stock from alternative storage places was delayed with the intention of utilisation of the space later in the year. However, the landlords of the retail space acquired a long term tenant, we were given notice to vacate and left on 5 October 2022.

Resettlement Housing Hostels, Move-On Projects

As at 31st of March 2023, Threshold owned the freehold of four properties which serve as move-on resettlement hostel projects, offering up to twenty bed spaces. Residents can stay for circa two years in the majority of our resettlement properties, a little longer in exceptional circumstances, whilst they recover from the multiple traumatic effects of being homeless. Residents, who would benefit from doing so, have the opportunity to learn essential life skills, emotional coping strategies, and access professional keywork support to enable them to attain, maintain and sustain independent accommodation in the community, learning to be self-sufficient, good tenants and responsible neighbours.

Threshold has also taken the lease on nine properties, varying in size from two bedroom to six bedroom HMO's. These properties increase the number of bed spaces we have from 20 to 54 during the course of the reporting period.

The organisation remains committed to initiating resettlement accommodation projects that address complex issues and cater to cohorts that experience an inability to access or sustain accommodation or break negative cycles

MONITORING AND EVALUATION

The utilisation of the IN-Form management information system (MIS) has continued to provide Threshold staff with a comprehensive method of tracking and evaluating service user progress through their journey from rough sleeping to resettlement accommodation and then into independent living. In general, the IN-Form MIS has better enabled Threshold to monitor, report and analyse data to inform our service development and benchmark our performance. All new appointees to the organisation engage in online IN-Form training modules to ensure competency in using the MIS. Importantly, IN-Form provides Threshold with a robustly secure data MIS and ability to confidently fulfil our obligations for safe data storage under the directives of associated legislation.

ACCESS TO OUR SERVICES

We believe equal access to our services is vital to our success and that successful outcomes must be shared by all individuals from all backgrounds and communities that access and use our services.

Public benefit

The Trustees confirm that they have complied with their duty as defined in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The Trustees further confirm that the activities of Threshold Housing Link are carried out in line with its objectives and aims and such other charitable purposes according to the law of England and Wales as the Trustees think fit from time to time in order to deliver a public benefit as described within this report.

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THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW

Financial position

The financial position of the charity at the year-end is set out on page 13. The charity had total funds of £1,308,654 at 31 March 2023 (2022 £1,198,314 of which £1,253,043 (2022 £1,182,703) represented unrestricted funds and £55,611 (2022 £15,611) represented restricted funds.

Threshold's principal activity continues to be the provision of a range of services that alleviate the suffering of homeless people. Over the past year our primary sources of income from our direct service provision activity were derived from rent and service charges for our Resettlement Projects and payments by the Local Authority for our Outreach Service. Incoming resources generated from these and other charitable activities amounted to £727,990 which was available for operating the accommodation and other related services for single homeless people. Resources expended to operate those services amounted to £617,650 giving a surplus for the year of £110,340.

Principal Funding Sources

Our main funder during 2022/23 was Swindon Borough Council, predominantly through the payment of Housing Benefit. Aside from the income generated by the fees charged for the supported accommodation (£590,786), we also used the final portion of a grant to support the work of the Street Outreach Service (£8,764).

We were awarded a grant from Nationwide of £45,000 to fund a Night Watch project in Swindon. The grant was to fund the cost of one FTE post to provide a fully responsive support service for rough sleepers and sex workers during the night. A grant was also received from Nationwide (£5,000) for a collaborative health and wellness project with Swindon Town Community Foundation which was spent during the year. Additional fundraising activities generated a total of £55,446 in donations and gifts made by many corporate supporters, 'Business Against Homelessness' members, and by the many generous members of the public whose support for the annual Swindon SleepOut, 'A Chance to Change' fund and seasonal appeals made by the charity allows Threshold to better serve the homeless.

As of the 31 March 2023 we employed 9 contracted employees (4 full-time & 5 part-time) which represented an increase in staff (from 3 full-time & 2 part-time as of 31 March 2022), reflecting the further changes in business needs. Across the period reflected in the statement, staffing costs represent the greatest overall expenditure at £200,513. Administration and organisational support costs amounted to £37,785 which includes, rates, council tax and water, light and heat, insurance, premises costs, depreciation, rent, telephone, fax and internet, printing, postage and stationery, computer and website costs, legal costs, independent examiners fees, plus mortgage interest and bank charges. Governance costs amounted to £9,854.

Investment policy and objectives

We place some income and/or grants that are received in advance into high interest savings accounts before draw down in an effort to attract additional revenue. Donations can also accrue Gift Aid. The Board of Trustees do not speculate in commercial money markets.

Reserves policy

Cash flow projections for income and expenditure are regularly reviewed to ensure that the level of available assets and income reserves are adequate, and that the charity is in a position to meet all of its commitments. The charity's reserves policy states that Threshold will accrue funds "sufficient to cover three month's running costs in order to ensure an orderly closure of the project should this become necessary, taking into account future needs, forecasts of future income and expenditure, and the level of liabilities - both current and future". Once this reserve level is ascertained, a review of general reserves is undertaken and potential investment in property to provide additional accommodation schemes is considered. A designated reserve fund of £10,000 remains established to cover future replacement costs of all IT hardware and associated software. A major repairs and renewals designated fund of £50,000 is kept to fund all major renewals, refurbishments and repairs to the charity's residential properties. This fund covers major purchases within the hostels and offices so that they can operate and be managed in good repair and order, to uphold health and safety and support wellness and efficiency of staff. This fund, in general, provides cover for the replacement of boilers, roofs, windows, bathrooms, kitchens, carpets, large household goods and other necessary office equipment etc.

At the year-end free reserves amount to £nil (2022 £nil). Free reserves represent unrestricted reserves less designated reserves and those tied up in fixed assets. The charity is working towards achieving the desired level of free reserves set out above.

Page 5

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

FUTURE PLANS

We will continue to maintain a pro-development focus and seek to expand our resettlement property portfolio. There remains an absence of suitable accommodation stock in Swindon for medium to high risk (and high needs) individuals, many of whom can be identified as dual diagnosis clients. We will continue to work with local agencies towards identifying gaps in need for specific purposed accommodation projects and then integrate new project development within our growth strategy. We will at the same time seek to balance our project growth with a proportionate increase in staff base and internal expertise.

Where it is possible, we will seek to strengthen our partnership and joint working capabilities through developing initiatives that will not only lever in additional funding but also provide holistic and joined-up approaches to support single homeless people.

We have determined to continue recruiting additional professionally qualified staff with highly specialist skills to fulfil key roles within the organisation. We seek to maintain a work-place environment where individuals are happy to come to work, feel valued and will desire to remain with the organisation for a long time in order that they can make an enormous contribution to improving the lives of our service users.

Our Board of Trustees remained at five members during the reporting period however we can, and have aspiration to broaden the size and capability of our Board. We will continue seeking to strengthen the Board of Trustees by recruiting further members, as outlined below in the 'Structure, Governance and Management' section of this report (Recruitment and Appointment of New Trustees). Underrepresented groups on the Board currently include people from ethnic minorities, those with disabilities, persons identifying as being from the LGBTQ+ community, and women. Therefore, we aim to encourage people from these groups to consider joining our Trustee Board.

Our strategy in terms of increasing sources of funding will be to continue holding events such as 'Threshold's Big Swindon SleepOut' and our 'Party in the Park'.

We will continue to apply for all relevant grant funding for our projects and to enable the organisation to sustain or develop key posts and key major project development. We will further develop and widen our 'friends and supporters' network to assist in supporting our aims to raise awareness of homelessness and the work Threshold do to relieve homelessness in Swindon.

We will continue to develop our use of IN-Form (management and information system / database for service user and service delivery monitoring) and strengthen our outcomes and intelligence data to robustly evidence the social impact that we provide.

We will further develop the extent and focus of our support services to provide clearly structured pathways to independence that seek to break cycles of complex behaviours and precipitating factors that underpin longterm homelessness for many individuals accessing homeless support services in Swindon.

We will further develop our utilisation of social media and digital marketing to build upon the enormous loyal following we have as Swindon's longest established and most trusted homeless charity, raising further awareness of the diverse and critically important work being undertaken by Threshold as well as to highlight our current and future development projects.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The organisation was formed in June 1972 and was known as The Swindon Cyrenians (AGAPE) when first registered as a charity. The charity is now branded as Threshold Housing Link, a Charitable Incorporated Organisation (CIO) 1017599. The Organisation is governed by its Constitution. The Trustees have no beneficial interest in the CIO.

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THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

For the purposes of charity law and under the organisation's Constitution, members of the Board are known as Trustees. Under the requirements of the Constitution, the Trustees are elected to serve for a period of three years, after which they must be re-elected at a Management Board Meeting with a maximum service of 9 years before stepping down for at least one year..

Recruitment is undertaken continually through recommendations, advertised vacancies on our website, through presentations to business and community groups, and through Voluntary Action Forums. There is a documented application process, which usually takes three months to complete and includes written application forms, interviews with the Chairman or other Board members, attending Board Meetings, undergoing a Disclosure and Barring Service (DBS) check in advance of becoming a Trustee. The Board of Trustees seek to maximise the skill base of the Board and training is available in areas pertaining to the specific knowledge required for the nature of the charity's business and operations and knowledge specific to fulfilling the role of a Trustee. This assists people's understanding and capability to review services, monitor and evaluate data relating to the outputs and outcomes of the schemes and services. A broad skills mix is required of the Board; an annual skills review undertaken by the Board monitors and highlights any learning that has taken place and identifies areas of potential skill loss, due to retirement or resignation, which thereby creates a need for growth and expansion among the Board with due regard to specific skills sets.

Additionally, in this reporting period there was a strong focus by the Board on directing the creation of the legal, administrative and staffing structures for best supporting the organisation's expansion objectives.

Richard Clowes served as Chair of Trustees for the entire duration of the period referenced in this report. The number of members on the Board of Trustees at the end of this reporting period stood at six. The maximum number of board members, as outlined in the Constitution, is determined as up to ten people during this reporting period.

Decision making

The overall responsibility for the charity rests with the Board of Trustees, who are appointed as Trustees of the Charitable Incorporated Organisation. The Trustees who served or were appointed during the year and up to the end date of this reporting period are listed in the 'REFERENCE AND ADMINISTRATION DETAILS' section of this report. Trustees provide leadership and oversight of the organisation's charitable objectives. The Board of Trustees have overview of senior management pay and terms and conditions and remuneration is set by the Trustees after considering the remuneration of equivalent staff at similar charitable organisations. Authority from the Trustees for the day to day running of the charity is delegated to the Chief Development Officer.

Page 7

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The charity is aware of non-financial risks presented by events and their outcomes that may have a significant effect on:

All operational and building risk assessments are reviewed annually, with routine inspection being undertaken at frequent intervals. Specific staff members have been identified as having Health and Safety responsibilities. All monitoring requirements are adhered to, with reports being submitted to funders as per specific arrangements. A Business Continuity Plan is in place which covers eventualities such as fire, flooding, loss of use of buildings and situations affecting staff and residents, including potential future pandemics.

The charity's computers were replaced during the reporting period and a cloud-based data storage platform was utilised as a more suitable and efficient long-term solution to the former server previously onsite at Threshold headquarters. The upgrades undertaken during the reporting period have substantially mitigated the various risk factors that had previously existed in years past with fixed desktop computers and onsite servers. Additionally, the portability of IT equipment has increased efficiency and allowed ease of multisite and flexible working while also mitigating substantially the risk of loss of performance which would otherwise occur if access to our HQ was restricted or denied.

Most of Threshold's income is derived from property rents, service charges, donations, and grants. Most costs relate directly to service provision. Our fixed assets relate to freehold ownership of our Resettlement Project's accommodation facilities. Our balance sheet reflects the value of these property assets but these funds are not available for general charitable expenditure. It is further recognised that these fixed assets generate periodic maintenance and repair costs for the charity.

The level and extent of additional (non-core) or enhanced services provided by Threshold mainly corresponds to the level of grant funding and fundraised income received. As such the charity will not be able to operate in its current form without attracting significant additional income streams to fund associated services provided through our central office. Any significant loss of core income would require major organisational restructuring in line with the reduction in income. Accordingly, the organisation is set upon developing further stable income growth through the provision of accommodation in the coming year.

Insurance provides cover against the inability to provide services due to damage to buildings, etc. The risks to service charge income associated with each room at each property is covered by a cautious estimate of occupancy levels and bad debts which may be accrued in each year's budget. Considerable effort was maintained throughout the year to reduce voids and maximise revenue. The void rate achieved across this reporting period was 1.6%

Preparation of cashflow forecasts and budgets allow the Board and Senior Management to closely identify variances arising during monthly reporting cycles and therefore monitor key business risks and swiftly apply risk mitigation strategies.

Fundraising is incredibly important to Threshold as it typically provides crucial funds to support the organisation's vital services. The organisation's fundraising strategy during the reporting period focused upon event hosting and sustained direct appeals to corporate and individual donors.

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THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

A significant area of ongoing risk pertains to staff retention and recruitment. Key to delivering the level of highquality services we pride ourselves upon are the additional staff appointments that the organisation can make and the retention of existing high performing staff. Attracting additional suitably experienced, professionally qualified, and wholly well motivated staff continues to be challenging for the organisation. Ideal candidates for key posts within the organisation require considerable sector experience and could generally be considered to come from most senior posts within the housing sector, the NHS, or the human and social services sectors. With the expansion of further specialist supported housing projects, the risk of adverse impact upon operations will be significant in the absence of additional recruitment of suitably qualified and experienced staff. Recognising this, the organisation will keenly and frequently review regional salaries and prioritise maintaining a dynamic retention strategy to mitigate attrition. Additionally, an active and open recruitment campaign will run across the coming year and seek to marginally exceed our optimum staffing profile in order to buffer capacity and strengthen the speed and durability of future growth phases.

Our risk register is updated regularly by Senior Management and reviewed by Trustees. Risks are prioritised in terms of potential impact and likelihood of occurrence and considered at Management Board Meetings. Risk mitigation is considered by the Senior Management Team who are then responsible for taking all necessary actions.

It is recognised by the organisation that strengthening risk management processes is an ongoing endeavour and a commitment to doing so remains a priority with further measures agreed for implementation in 2023-24.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1017599

Principal address 2nd Floor 1 John Street Swindon Wiltshire SN1 1RT

Trustees

Richard Clowes Bryan Saunders Ross Peters Ash Zuberi Andrew Hollingsworth – 13 December 2022 Leah Oyewo – appointed 13 December 2022

Independent Examiner

Susan Plumb Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

Page 9

THRESHOLD HOUSING LINK

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Legal Advisors Peninsula Business Services The Peninsula 2 Cheetham Hill Road Manchester M4 4FB

Bankers Co-Operative Bank PO Box 250 Skelmersdale WN8 6WT Approved by order of the board of trustees on ............................................. and signed on its behalf by: 28 January 2024

................................................................ Mr Bryan Saunders - Trustee

Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THRESHOLD HOUSING LINK

Independent examiner's report to the trustees of Threshold Housing Link

I report to the charity trustees on my examination of the accounts of Threshold Housing Link (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Susan Plumb ACA The Institute of Chartered Accountants in England and Wales Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

Date: ............................................. 29 January 2024

Page 11

THRESHOLD HOUSING LINK

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Supported accommodation
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
Charitable activities
6
Supported accommodation
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
55,446
599,550
26,576
1,418
682,990
14,125
598,525
70,340
1,182,703
1,253,043		 Restricted
funds
£
45,000
-
-
-
45,000
-

5,000
40,000
15,611
55,611		 2023
Total
funds
£
100,446
599,550
26,576
1,418
727,990
14,125

603,525
110,340
1,198,314
1,308,654		 2022
Total
funds
£
36,608
321,266
26,353
46
384,273
318
375,694
8,261
1,190,053
1,198,314

The notes form part of these financial statements

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THRESHOLD HOUSING LINK

STATEMENT OF FINANCIAL POSITION 31 MARCH 2023

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year 13
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
1,189,152
46,533
322,277
368,810
(75,427)
293,383
1,482,535
(229,492)
1,253,043		 Restricted
funds
£
-
-
55,611
55,611
-
55,611
55,611
-
55,611		 2023
Total
funds
£
1,189,152
46,533
377,888
424,421
(75,427)
348,994
1,538,146
(229,492)
1,308,654
1,253,043
55,611
1,308,654		 2022
Total
funds
£
1,217,096
35,054
285,241
320,295
(67,664)
252,631
1,469,727
(271,413)
1,198,314
1,182,703
15,611
1,198,314

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28 January 2024

.............................................

Mr Bryan Saunders - Trustee

The notes form part of these financial statements

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THRESHOLD HOUSING LINK

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing 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		 2023
£
126,854
(15,132)
111,722
(2,492)
1,418
(1,074)
(18,001)
(18,001)
92,647
285,241
377,888		 2022
£
(3,942)
(12,908)
(16,850)
(16,067)
46
(16,021)
(22,484)
(22,484)
(55,355)
340,596
285,241

The notes form part of these financial statements

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THRESHOLD HOUSING LINK

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES FLOW FROM OPERATING ACTIVITIES FLOW FROM OPERATING ACTIVITIES FLOW FROM OPERATING ACTIVITIES
2023 2022
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 110,340 8,261
Adjustments for:
Depreciation charges 30,436 27,939
Interest received (1,418) (46)
Finance costs 15,132 12,908
Increase in debtors (11,479) (17,952)
Decrease in creditors (16,157) (35,052)
Net cash provided by/(used in) operations 126,854 (3,942)
2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1/4/22 Cash flow At 31/3/23
£ £ £
Net cash
Cash at bank 285,241 92,647 377,888
285,241 92,647 377,888
Debt
Debts falling due within 1 year (20,734) (23,920) (44,654)
Debts falling due after 1 year (271,413) 41,921 (229,492)
(292,147) 18,001 (274,146)
Total (6,906) 110,648 103,742

The notes form part of these financial statements

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THRESHOLD HOUSING LINK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity and is rounded to the nearest £.

Going concern

There are no material uncertainties regarding the ability of the charity to continue as a going concern.

Income

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

Expenditure

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

Allocation and apportionment of costs

Support and governance costs are re-allocated on the following basis which is an estimate, based on direct expenditure, of the amount attributable to each activity

Support accommodation 99% Fundraising 1%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities.

Tangible fixed assets

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

Freehold property 50 years
Hostel equipment 3 years
Motor vehicles 3 years
Computer equipment 3 years
Office equipment 15% reducing balance

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

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

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

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

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

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

2. DONATIONS AND LEGACIES

Unrestricted
funds
£
Donations
55,446
Grants
-
55,446		 Restricted
funds
£
-
45,000
45,000		 2023
Total
funds
£
55,446
45,000
100,446		 2022
Total
funds
£
36,608
-
36,608

In 2022, all donations and legacy income was unrestricted funding.

Grants received, included in the above, are as follows:

Nationwide - Night Watch project 2023
£
45,000		 2022
£
-

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

3. OTHER TRADING ACTIVITIES

Unrestricted
Restricted
funds
funds
£
£
Sleepout
4,663
-
Miscellaneous income
21,913
-
26,576
-
4.
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
1,418
-
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fees from residents
Supported accommodation
Outreach workers
Supported accommodation
Threadneedle grant
Supported accommodation
Nationwide grant
Supported accommodation
No description
Supported accommodation		 2023
Total
funds
£
4,663
21,913
26,576
2023
Total
funds
£
1,418
2023
£
590,786
8,764
-
-
-
599,550		 2022
Total
funds
£
21,619
4,734
26,353
2022
Total
funds
£
46
2022
£
247,502
62,153
2,500
5,000
4,111
321,266

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

6. CHARITABLE ACTIVITIES COSTS

Staff costs
Consultancy costs
Rates, Council tax and water
Light and heat
Repairs and furniture
Bad debts
Insurance
Other premises costs
Staff recruitment, training etc
Depreciation
Fundraising costs
Mortgage interest
Legal and professional fees
Independent examiners fee
Accountancy and bookkeeping
Rent
Telephone
Advertising
Postage and stationary
Computer and website costs
Subscriptions
Bank charges
Sundry expenses
Support costs
Total expenditure 2023
Total expenditure 2022		 Costs of
Supported
Support
costs
2023
2022
Raising funds
Accommo
dation
Total
Total
£
£
£
£
£
-
201,253
-
201,253
188,550
-
54,314
-
54,314
50,054
-
-
9,888
9,888
5,589
-
32,006
32,006
11,534
-
76,492
-
76,492
11,032
-
8,668
-
8,668
2,782
-
4,800
-
4,800
5,849
-
19,004
-
19,004
24,306
-
3,604
-
3,604
2,864
-
30,435
-
30,435
27,939
13,664
-
-
13,664
-
-
15,432
-
15,432
12,907
-
-
1,235
1,235
6,524
- -
3,400
3,400
3,300
-
17,022
17,022
-
-
93,428
14,500
107,928
4,700
-
5,123
-
5,123
6,487
-
1,389
-
1,389
1,255
-
1,561
-
1,561
694
-
9,539
-
9,539
8,605
-
448
-
448
617
-
445
-
445
316
-
-
-
-
108
13,664
557,941
46,045
617,650
376,012
461
45,584
(46,045)
14,125
603,525
-
617,650
318
375,694
-
376,012

Of the expenditure £5,000 was restricted (2022 £62,153) and £612,650 was unrestricted (2022 £313,859)

7. SUPPORT COSTS

Governance
Management
costs
£
£
Supported accommodation
149,823
26,382		 Totals
£
176,205

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
183,222
14,748
2,543
200,513		 2022
£
173,619
13,063
1,868
188,550

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

2023 2022
Total 7 7

No employees received emoluments in excess of £60,000.

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £152,739 (2022: £126,006).

No employee earned more than £60,000 for the year (2022 one employee earned between £60,000£69,999)

10. TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Freehold
property
£
1,254,049
-
1,254,049
48,982
25,081
74,063
1,179,986
1,205,067		 Office
equipment
£
31,683
-
31,683
25,422
2,749
28,171
3,512
6,261		 Motor
vehicles
£
9,174
-
9,174
9,174
-
9,174
-
-		 Computer
equipment
£
111,906
2,492
114,398
106,138
2,606
108,744
5,654
5,768		 Totals
£
1,406,812
2,492
1,409,304
189,716
30,436
220,152
1,189,152
1,217,096

Freehold property includes four properties held at valuation on an open market basis of £1,220,000. Valuations were carried out in July 2020 by independent, qualified valuers, Richard James Estate Agents on three properties with an additional valuation carried out by Aitchson Rafferty in January 2021 on the newest property acquisition.

All of the above are used for charitable purposes.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
£
Trade debtors
18,936
Other debtors
3,400
Prepayments and accrued income
24,197
46,533
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Bank loans and overdrafts (see note 14)
44,654
Other creditors
30,773
75,427
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
£
Bank loans (see note 14)
229,492
14.
LOANS
An analysis of the maturity of loans is given below:
2023
£
Amounts falling due within one year on demand:
Bank loans
44,654
Amounts falling between one and two years:
Bank loans - 1-2 years
7,128
Amounts falling due between two and five years:
Bank loans - 2-5 years
21,384
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
200,980
15.
SECURED DEBTS
The following secured debts are included within creditors:
2023
£
Bank loans
274,146		 2022
£
-
4,983
30,071
35,054
2022
£
20,734
46,930
67,664
2022
£
271,413
2022
£
20,734
19,828
59,225
192,360
2022
£
292,147

Bank loans totalling £274,146 (2022 £292,147) are secured against freehold property held by the charity.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS

Net
movement
At 1/4/22
in funds
£
£
Unrestricted funds
General funds
679,946
70,340
IT reserve fund
10,000
-
Designated major fund
20,000
-
Revaluation reserve
472,757
-
1,182,703
70,340
Restricted funds
Threadneedle
6,500
-
Nationwide
5,000
(5,000)
A Chance to Change
4,111
-
Nationwide Night Watch project
-
45,000
15,611
40,000
TOTAL FUNDS
1,198,314
110,340
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General funds
682,990
Restricted funds
Nationwide
-
Nationwide Night Watch project
45,000
45,000
TOTAL FUNDS
727,990		 Transfers
between
funds
£
(30,000)
-
30,000
-
-
-
-
-
-
-
-
Resources
expended
£
(612,650)
(5,000)
-
(5,000)
(617,650)		 At
31/3/23
£
720,286
10,000
50,000
472,757
1,253,043
6,500
-
4,111
45,000
55,611
1,308,654
Movement
in funds
£
70,340
(5,000)
45,000
40,000
110,340

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General funds
IT reserve fund
Designated major fund
Revaluation reserve
Restricted funds
Threadneedle
Nationwide
A Chance to Change
TOTAL FUNDS		 At 1/4/21
£
683,296
10,000
20,000
472,757
1,186,053
4,000
-
-
4,000
1,190,053		 Net
movement
in funds
£
(3,350)
-
-
-
(3,350)
2,500
5,000
4,111
11,611
8,261		 At
31/3/22
£
679,946
10,000
20,000
472,757
1,182,703
6,500
5,000
4,111
15,611
1,198,314

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General funds
Restricted funds
Outreach workers
Threadneedle
Nationwide
A Chance to Change
TOTAL FUNDS		 Incoming
resources
£
310,509
62,153
2,500
5,000
4,111
73,764
384,273		 Resources
Movement
expended
in funds
£
£
(313,859)
(3,350)
(62,153)
-
-
2,500
-
5,000
-
4,111
(62,153)
11,611
(376,012)
8,261

Purpose of restricted funds

Outreach Workers funds are amounts received to support the work of the Rough Sleeper Outreach Service.

Threadneedle funds received within this reporting period (£2,500) are amounts received to support the 'As I See Me' project, which aimed to facilitate exploration of identity through guided reflections on selfperception, character strengths, and alternative ways of being in its participants, who will have actively been involved in sex working as a survival strategy. Additional restricted funds still in reserve (£4000) are allocated to the Homeless Narratives project.

Nationwide funds are amounts received to run a collaborative wellness promotion project with Swindon Town FC Community Foundation.

A Change to Change Fund receives corporate and private donations which are restricted for use to support the needs of residents within, primarily, Threshold's SWAP.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS - continued

Nationwide Night Watch project – amounts received to fund the cost of one FTE post to provide a fully responsive support service for rough sleepers and sex workers during the night. The fund was received in March 2023 and will be spent in the coming year.

Purpose of Designated Funds

Repair fund

A major repairs and renewals designated fund of £50,000 is kept to fund all major renewals, refurbishments and repairs to the charity's properties and ensures the agencies obligations of repair to the leased entities.

IT replacement fund

To fund the replacement of the charity's IT systems.

Revaluation reserve

This represents the difference between the revalued amount of the freehold property and the value under the historic cost basis.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

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