REGISTERED COMPANY NUMBER: 02804567 (England and Wales) REGISTERED CHARITY NUMBER: 1026620
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Coatham House
(A Company Limited by Guarantee)
JBC Accountants Limited Chartered Accountants 3B Lockheed Court Preston Farm Stockton on Tees TS18 3SH
Coatham House
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 17 |
Coatham House
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The company is a charity and exists to provide public benefit by helping young, homeless people move towards successful independent living through the provision of temporary, managed accommodation, development of life skills and assistance with permanent resettlement.
The mission statement for Coatham House Projects is 'to accommodate, support and reintegrate homeless young people into society and to raise awareness of their plight'.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has continued to build upon its core services in Redcar throughout 2022/23. We added new trustees and a new member of staff to increase the capacity of the charity in terms of its ability to meet the growing demand for those who are homeless in the town and those at risk of becoming homeless. We are still looking to recruit new trustees to improve the governance structure and help drive the charity forward in the current challenging circumstances..
The manager, company members, trustees, staff and volunteers are all committed to the development and sustainability of the mission and increasingly recognise the nature of the crucial services that it delivers in Redcar at a time of real need.
The Charity has continued its progression in terms of meeting its core aims, which is that of putting a roof over an increasing number of heads in the town. We are now working with over 30 clients each week - those who are experiencing homelessness and those at risk of homelessness. We directly provide accommodation for 20 clients and support services for a further 10 clients. It is the support structure provided by a small and dedicated team that helps young people cope with homelessness and start the journey to gather the skills in order to access sustainable housing options in the future. The environment has proved very challenging as we adapted to moving on from the pandemic dealing with the deep cost of living crisis that has impacted deeply on our client group in an area already with high levels of deprivation. We have worked hard as a charity to bring more resources to the table in terms of improved grant donations and improved rental collection through some excellent support work and liaison with the local housing benefits. We continue to build up a solid working relationship with the local authority and still provide contracted work with Redcar and Cleveland Borough Council as part of a co-ordinated response to the homeless issue in the locality. We continue to build and expand our stakeholder network to enable the charity to get the best outcomes for the clients that we are engaged with.
This includes the ongoing development of personal development opportunities with local statutory and non-statutory agencies working with young people on cooking skills, sporting activities and mindfulness activity to improve the lives of our clients and we now offer a more wholistic and person led set of development pathways.
The trustees are now actively following a development plan to create more housing options to meet the growing need for safe and secure supported accommodation in the town from those in housing need. Sadly, homelessness in Redcar continues to rise and we see ourselves as a vital part of the multi agency response to that challenge.The trustees have continued to invest in the staff team and our social media work alongside maintaining investment in our properties ensuring that the tenant experience is as good as we can make it. We continue to work in partnership with like minded agencies to deliver an innovative response to the growing needs of the client group in Redcar.
The charity will continue to be part of the non statutory sector response to homelessness in the Redcar area doing what it was set up to do - house vulnerable young people on an increasing scale .
Page 1
Coatham House
Report of the Trustees for the Year Ended 31 March 2023
FINANCIAL REVIEW
Financial Review
During the year there has been a net inflow of resources amounting to £15,011 (2022: inflow £15,007). Total funds now stand at £576,838. There has been a net inflow of unrestricted funds of £10,766 and inflow of restricted funds of £4,245. The Statement of Financial Activities on page 6 shows the charity's income and how it has been spent during the year. Notes 2 to 4 to the accounts on pages 10 and 11 detail income received in the year and its source. The trustees are very grateful for all the support received.
The charity is largely dependent upon income from statutory sources, various trusts and other charitable sources. The Trustees have no reason to doubt that the charity will continue to attract sufficient funds. The major source of income has been housing benefit.
The organisiation aims to increase its income generation activities in the next financial year to assist with its self-sustainability.
Investment policy and objectives
Any funds which may be surplus from time to time are invested in deposit accounts to ensure that they are available to the charity when required.
Reserves policy
On reviewing the reserves policy, the Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be between 3 and 6 months of the resources expended on normal operating activities which equate to £53,250 to £106,500 in general funds. At this level, the Trustees feel that they would be able to continue current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. At present the unrestricted reserves are £572,019 but of this figure £446,420 related to fixed assets, therefore free reserves are £125,599 at 31 March 2023. The Trustees are committed to taking appropriate action to continue to obtain further funding to reach the targeted level of unrestricted funds and are sourcing further grant funding along with reviewing the activities of the trading subsidiary to optimize income generation.
FUTURE STRATEGY
The board recognises that the year has provided a very challenging backdrop to the ongoing delivery of our services and dealing with the broader impact upon our client group. It has also changed the circumstances for fund givers with increased demand for funding at a time when resources to allocate have decreased. The board is committed to its funding strategy and is working on a clear impact statement to support our funding endeavours.
The current board is looking at recruiting new members to oversee the delivery and sustainment of the organisations activities and impact. Coatham House aims to be a top quality player in the housing and homelessness sector in Redcar by creating an infrastructure for professional development moving forward.
The board are committed to continuing its core services and the development of the enterprise activities via its trading arm.
The trustees would like to recognise the work of the staff team, volunteers and all those stakeholders who continue to support the work of the organisation in Redcar.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 21 March 1993 and registered as a charity on 29 September 1993.
The company was established under a Memorandum of Association which established the objects and powers if the charitable company and is governed under its Articles of Association.
Recruitment and appointment of new trustees
Under the Articles, two trustees will stand down at the AGM but are eligible for re-election. The charity's trustees are reinstated from its membership, with a view to harnessing skills which are appropriate to its activities.
Page 2
Coatham House
Report of the Trustees
for the Year Ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Board of Trustees meet at least six times a year and is responsible for the strategic direction of the charity. The day to day running of the charity is delegated to the manager and his team. The manager attends and reports to all Board meetings and liaises with the Board if necessary.
Induction and training of new trustees
All potential new trustees are invited for a meeting with the manager and visit all the charity's projects to speak with staff and service users. They will meet with the chair and attend two board meetings as observers to get a flavour of what is involved prior to agreeing to act. All new trustees are issued with a copy of the Memorandum and Articles of Association, accounts, business plan and any other relevant information.
A skills audit is carried out every one to two years to ensure that appointments to sub groups within the board make best use of trustees' skills.
Risk management
Through their regular involvement in the management of the charity the Trustees are aware of the major risks involved in running the charity and policies and procedures are in place to mitigate these risks. A business plan is in place to guide Trustees and is subject to review as appropriate. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02804567 (England and Wales)
Registered Charity number
1026620
Registered office
Charles Jolly House 1st Floor 5a High Street Redcar TS10 3BY
Trustees
David Robert Stones Hazel Valerie Yare Andrew Pettersen David Eagle
Company Secretary David Eagle
Independent Examiner
JBC Accountants Limited Chartered Accountants 3B Lockheed Court Preston Farm Stockton on Tees TS18 3SH
Page 3
Coatham House
Report of the Trustees
for the Year Ended 31 March 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Cygnet Law Portland House West Dyke Road Redcar TS10 1DH
Bankers
Unity Trust Bank Plc Nine Brindley Place Birmingham B1 2HB
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 16 October 2023 and signed on its behalf by:
David Eagle - Trustee
Page 4
Independent Examiner's Report to the Trustees of Coatham House
Independent examiner's report to the trustees of Coatham House ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Lynne Dickson FCA
JBC Accountants Limited Chartered Accountants 3B Lockheed Court Preston Farm Stockton on Tees TS18 3SH
24 October 2023
Page 5
Coatham House
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,456 Charitable activities 4 Supporting the homeless 320,056 Other trading activities 3 5,748 Total 328,260 EXPENDITURE ON Charitable activities 5 Supporting the homeless 317,494 NET INCOME 10,766 RECONCILIATION OF FUNDS Total funds brought forward 561,253 TOTAL FUNDS CARRIED FORWARD 572,019 |
Restricted funds £ 51,515 - - 51,515 47,270 4,245 574 4,819 |
2023 Total funds £ 53,971 320,056 5,748 379,775 364,764 15,011 561,827 576,838 |
2022 Total funds £ 48,378 265,780 4,232 |
|---|---|---|---|
| 318,390 | |||
| 303,383 | |||
| 15,007 546,820 |
|||
| 561,827 |
The notes form part of these financial statements
Page 6
Coatham House
Balance Sheet
31 March 2023
| Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 18 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 446,419 1 446,420 62,602 156,255 218,857 (20,878) 197,979 644,399 (72,380) 572,019 |
Restricted funds £ 2 - 2 - 5,533 5,533 (716) 4,817 4,819 - 4,819 |
2023 Total funds £ 446,421 1 446,422 62,602 161,788 224,390 (21,594) 202,796 649,218 (72,380) 576,838 572,019 4,819 576,838 |
2022 Total funds £ 432,914 1 432,915 87,158 143,393 230,551 (19,363) 211,188 644,103 (82,276) 561,827 561,253 574 561,827 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
Coatham House
Balance Sheet - continued
31 March 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2023 and were signed on its behalf by:
David Eagle - Trustee
The notes form part of these financial statements
Page 8
Coatham House
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 charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The trustees consider that there are no material uncertainties about Coatham House's ability to continue as a going concern and as such, these financial statements have been prepared on the going concern basis.
Income
All income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonably accuracy. There is no netting off of expenditure within the accounts.
Gifts in kind are included within donations in the SOFA at an estimate of the cost of providing the service. The equivalent cost is also included within resources expended.
Grants towards fixed assets are treated as donations in the SOFA as the asset is capitalised in the Balance Sheet. The income is treated as a restricted fund and depreciation charged to it each year. Revenue grants are credited to the SOFA for the year to which they relate.
Expenditure
All expenditure is accounted for on an accruals basis and includes attributable VAT which cannot be recovered. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities. It includes both costs which can be directly allocated to activities and those costs of an indirect nature necessary to support them.
Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost
Tangible fixed assets are stated at cost less accumulated depreciation.
Cost includes costs directly attributable to making the asset capable of operating as intended.
Related party exemption
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
continued...
Page 9
Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES - continued
Taxation
The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering the funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Pension scheme
The charity operates a fully insured, contributory defined contribution pension scheme for all employees. The charity contributions are charged to the SOFA in the period to which they relate.
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: |
2023 £ 2,456 51,515 53,971 |
2022 £ 6,366 42,012 48,378 |
||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Ballinger Trust | 15,000 | 20,000 | ||
| County Durham Community Fund | - | 2,940 | ||
| Kickstart scheme | 7,515 | 18,072 | ||
| Arnold Clark Community Fund | - | 1,000 | ||
| The Albert Hunt Trust | 14,000 | - | ||
| Cleveland Fire Brigade | 15,000 | - | ||
| 51,515 | 42,012 | |||
continued...
Page 10
Coatham House
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
3. OTHER TRADING ACTIVITIES
| Miscellaneous income 4. INCOME FROM CHARITABLE ACTIVITIES Activity Rents and housing benefits Supporting the homeless Support services Supporting the homeless 5. CHARITABLE ACTIVITIES COSTS 2023 £ Unrestricted Costs allocated directly to activities: Staff costs 134,292 Premises costs 60,246 Telephone, post stationery & advertising 1,439 Insurance 9,272 Travel & training 3,906 Sundry costs 2,801 Bad debts 43,458 Depreciation 2,320 Grants payable to subsidiary - Support costs (see note 6) 59,760 317,494 |
Miscellaneous income 4. INCOME FROM CHARITABLE ACTIVITIES Activity Rents and housing benefits Supporting the homeless Support services Supporting the homeless 5. CHARITABLE ACTIVITIES COSTS 2023 £ Unrestricted Costs allocated directly to activities: Staff costs 134,292 Premises costs 60,246 Telephone, post stationery & advertising 1,439 Insurance 9,272 Travel & training 3,906 Sundry costs 2,801 Bad debts 43,458 Depreciation 2,320 Grants payable to subsidiary - Support costs (see note 6) 59,760 317,494 |
2023 £ 5,748 2023 £ 283,856 36,200 320,056 |
2022 £ 4,232 2022 £ 248,776 17,004 265,780 |
|||
|---|---|---|---|---|---|---|
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| Unrestricted | Restricted | Total | Total | |||
| 134,292 | 14,000 | 148,292 | 144,285 | |||
| 60,246 | 10,183 | 70,429 | 48,331 | |||
| 1,439 | - | 1,439 | 1,178 | |||
| 9,272 | - | 9,272 | 7,295 | |||
| 3,906 | - | 3,906 | 3,130 | |||
| 2,801 | - | 2,801 | 1,010 | |||
| 43,458 | - | 43,458 | 4,038 | |||
| 2,320 | 572 | 2,892 | 1,714 | |||
| - | 7,515 | 7,515 | 13,491 | |||
| 59,760 | 15,000 | 74,760 | 78,911 | |||
| 317,494 | 47,270 | 364,764 | 303,383 | |||
The trustees have decided that 50% of the balance due from it's subsidiary company, Coatham House Enterprises Limited should be written off in this year end. £38,500 is included in the bad debts figure above.
6. SUPPORT COSTS
| 2023 | 2023 | 2023 | 2022 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted | Restricted | Total | Total | |
| Staff costs | 8,320 | - | 8,320 | 7,413 |
| Premises costs | 20,766 | - | 20,766 | 13,941 |
| Telephone, post, stationery & advertising | 13,218 | - | 13,218 | 19,361 |
| Consultancy fees | 5,004 | 15,000 | 20,004 | 25,800 |
| Legal & professional fees | 100 | - | 100 | 1,200 |
| Loan interest | 3,244 | - | 3,244 | 2,411 |
| Sundry costs | 559 | - | 559 | 387 |
| Governance costs: | ||||
| - Staff costs | 5,588 | - | 5,588 | 5,302 |
| - Accountancy fees | 2,808 | - | 2,808 | 2,976 |
| - Legal & professional fees | 153 | - | 153 | 120 |
| 59,760 | 15,000 | 74,760 | 78,911 | |
continued...
Page 11
Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
| 2023 | 2022 |
|---|---|
| £ | £ |
| 2,892 | 1,714 |
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.
9. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2023 £ 148,973 7,497 5,729 162,199 |
2022 £ 150,634 4,510 1,857 |
| 157,001 |
The average monthly number of employees during the year was as follows:
| Office Hostel and Outreach No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,365 Charitable activities Supporting the homeless 265,780 Other trading activities 4,232 Total 276,377 EXPENDITURE ON Charitable activities Supporting the homeless 234,226 |
2023 1 9 10 Restricted funds £ 42,013 - - 42,013 69,157 |
2022 2 10 12 Total funds £ 48,378 265,780 4,232 318,390 303,383 |
|---|---|---|
continued...
Page 12
Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| NET INCOME/(EXPENDITURE) | 42,151 | (27,144) | 15,007 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 519,102 | 27,718 | 546,820 | |
| TOTAL FUNDS CARRIED FORWARD | 561,253 | 574 | 561,827 | |
| 11. | TANGIBLE FIXED ASSETS | |||
| Improvements | ||||
| Freehold | Short | to | ||
| property | leasehold | property | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2022 | 429,999 | 89,880 | 15,009 | |
| Additions | - | - | 16,399 | |
| At 31 March 2023 | 429,999 | 89,880 | 31,408 | |
| DEPRECIATION | ||||
| At 1 April 2022 | - | 89,880 | 15,009 | |
| Charge for year | - | - | 1,162 | |
| At 31 March 2023 | - | 89,880 | 16,171 | |
| NET BOOK VALUE | ||||
| At 31 March 2023 | 429,999 | - | 15,237 | |
| At 31 March 2022 | 429,999 | - | - | |
| Fixtures | ||||
| and | Motor | |||
| fittings | vehicles | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2022 | 54,153 | 5,000 | 594,041 | |
| Additions | - | - | 16,399 | |
| At 31 March 2023 | 54,153 | 5,000 | 610,440 | |
| DEPRECIATION | ||||
| At 1 April 2022 | 51,238 | 5,000 | 161,127 | |
| Charge for year | 1,730 | - | 2,892 | |
| At 31 March 2023 | 52,968 | 5,000 | 164,019 | |
| NET BOOK VALUE | ||||
| At 31 March 2023 | 1,185 | - | 446,421 | |
| At 31 March 2022 | 2,915 | - | 432,914 |
continued...
Page 13
Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. TANGIBLE FIXED ASSETS - continued
Tangible fixed assets includes a motor vehicle (net book value £nil), which was purchased using a grant from Help the Homeless.
Fixture and fittings include assets with a net book value of £nil (2022: £574), originally purchased using a grant from the Community Foundation.
There were no commitments to capital expenditure at 31 March 2023 or 31 March 2022.
The freehold properties were valued by the trustees at open market value as at 31 March 2023. The original cost of the freehold property was £361,673 (2022: £361,673).
12. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1 April 2022 and 31 March 2023 | 1 |
| NET BOOK VALUE | |
| At 31 March 2023 | 1 |
| At 31 March 2022 | 1 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Coatham House Enterprises Limited
Registered office:
Nature of business: Lets accommodation to young people
13.
| % Class of share: holding Ordinary 100 Aggregate capital and reserves Profit/(loss) for the year DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings Other debtors Prepayments |
2023 £ (38,769) 4,545 2023 £ 17,896 38,585 52 6,069 62,602 |
2022 £ (43,314) (30,258) 2022 £ 19,817 67,200 52 89 87,158 |
|---|---|---|
continued...
Page 14
Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 16) Trade creditors Other creditors Accruals and deferred income 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 16) 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due: Within one year Between one and two years Between two and five years More than five years |
Bank loans and overdrafts (see note 16) Trade creditors Other creditors Accruals and deferred income 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 16) 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due: Within one year Between one and two years Between two and five years More than five years |
2023 £ 8,448 865 5,560 6,721 21,594 2023 £ 72,380 |
2022 £ 7,000 2,572 2,044 7,747 19,363 2022 £ 82,276 |
|
|---|---|---|---|---|
| 2022 | 2022 | |||
| £ | £ | |||
| 8,448 | 7,000 | |||
| 6,800 | 6,800 | |||
| 20,400 | 20,400 | |||
| 45,180 | 55,076 | |||
| 80,828 | 89,276 | |||
The above includes two interest-free loans awarded by the Quaker Housing Trust. The first loan of £20,000 was repayable over 10 years in equal instalments and commenced in December 2011. This has now been repaid in full. The second of £60,000 is repayable over 20 years in equal instalments and commenced in December 2014.
There is also a loan from Unity Trust Bank plc which is repayable by monthly instalments over 20 years at an interest rate of 3.5%, which started in September 2013.
Security has been given for amounts included in creditors of £55,028 (2021: £58,476). The Unity Trust Bank plc has a charge over the property at 1 Bank Street, Redcar.
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2023 £ 13,150 15,500 28,650 |
2022 £ 13,150 15,500 |
|---|---|---|
| 28,650 |
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Coatham House
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
18. MOVEMENT IN FUNDS
| Unrestricted funds Unrestricted funds Restricted funds Community Foundation Cleveland Fire Brigade TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds Unrestricted funds Restricted funds Ballinger Community Foundation Kickstart The Albert Hunt Trust Cleveland Fire Brigade TOTAL FUNDS |
At 1/4/22 £ 561,253 574 - 574 561,827 Incoming resources £ 328,260 15,000 - 7,515 14,000 15,000 51,515 379,775 |
Net movement At in funds 31/3/23 £ £ 10,766 572,019 (572) 2 4,817 4,817 4,245 4,819 15,011 576,838 Resources Movemen expended in funds £ £ (317,494) 10,766 (15,000) - (572) (572 (7,515) - (14,000) - (10,183) 4,817 (47,270) 4,245 (364,764) 15,011 |
At 31/3/23 £ 572,019 2 4,817 |
|---|---|---|---|
| 4,819 | |||
| 576,838 | |||
| 4,245 | |||
| 15,011 |
Comparatives for movement in funds
| Unrestricted funds Unrestricted funds Restricted funds Lloyds TSB Ballinger Community Foundation TOTAL FUNDS |
At 1/4/21 £ 519,102 23,900 2,500 1,318 27,718 546,820 |
Net movement in funds £ 42,151 (23,900) (2,500) (744) (27,144) 15,007 |
At 31/3/22 £ 561,253 - - 574 |
|---|---|---|---|
| 574 | |||
| 561,827 |
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Coatham House
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted funds Restricted funds Lloyds TSB Ballinger Community Foundation Arnold Clarke Kickstart TOTAL FUNDS |
Incoming resources £ 276,377 - 20,000 2,940 1,000 18,073 42,013 318,390 |
Resources Movement expended in funds £ £ (234,226) 42,151 (23,900) (23,900) (22,500) (2,500) (3,684) (744) (1,000) - (18,073) - (69,157) (27,144) (303,383) 15,007 |
|---|---|---|
A grant of £15,000 from Ballinger and a grant of £14,000 from the Albert Hunt Trust have been used to fund core costs and these have been spent in full during the year.
Community Foundation - the balance on this grant represents the net book value of kitchen equipment purchased for the Reloved cafe (ran by the subsidiary).
£15,000 has been received from Cleveland Fire Brigade for the costs of work to be carried out on the hostel. £4,817 remains unspent at 31 March 2023 and will be carried forward to meet costs in 2023/24.
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
20. STATUTORY INFORMATION
Coatham House is a company limited by guarantee and has no share capital.
The company is registered in England and Wales and its registered number and office address can be found within the 'Reference and Administrative Details' of the Report of the Trustees.
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