REGISTERED COMPANY NUMBER: 02804567 (England And Wales) REGISTERED CHARITY NUMBER: 1026620 rt of the Trnsteog and Unaudited F. tements for the Year End 31 Mareb 2024 for Coatham Hous Limited b Guarantee Aco JBC Accountants Limited Chartered Accountants 3B Lo¢kbeed Court Preston Farni Stockton on Tees TS18 3SH
Coath MH use Contents of the Financial Ststements for the Year Ended 31 Mgrth 2024 Page Report of the Trustees I to 5 Independent ExamineT'$ Reprf)rt Statement of Financial Activities Balince Sheet 8 to 9 Notes to the Financial Ststements 10 to 19
Coatham House rt of the Trust for the Year Ended 31 Mareh 2024 The trustees who are a150 directors of the charity for the purposes of the Companies Act 2006, present their report wlth th¢ financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their a¢counts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIWITIES Objectives and 2illlS The company is a charity and exists to provide public benefit by helping youn& homeless people move towards successful independent living through the provision of temporary. managed accommodatio development of life skills and assistance with pem)anent tfsettlement. The mission slatement for Coatham House Projects is lo accommodate. support and reintegrate homeless young people into S0¢i¢ty and to raise awareness of their pligJ)t'. We have referred to the guidance contained in the Charity Commission's general guidance on publi¢ benefit when Teviewing our aims and objectives and in planning our future activities. Page I
Coath4nJ House rt of tbe Truslees for the Ye4r Ended 31 March 2024 ACHIEVEMENf AND PERFOR11¥cE Charitsble aetivities The charity has continued to build upon it5 wr¢ services in Redcar throughout 2023124. We added new IneS and a new member of staff to increase the capacity of the charRty in temis of its ability to meet the growing demand for those who are homeless in the town and those at risk of becoming homeless. We have worked hard with the current trustees on the govemance structure and are taking a long-tenn vlew alKkUt the sustainabllity of the charity as w¢ move forward in the current economic environment. The manager, Company members, trustees. staff and volunteers are all committed to the development and sustainability of the mission and increasingly recognisc the nature of the cru¢ial services that it delivers in Redcar at a time of real need. The Charity has continued its progression in tem)s 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 wilh over 30 ¢lients each week - those who a exp¢rien¢ing homelessness and those at risk of homelessness. We directly provide accornmodation for 22 clients and 5UPPOrt services for a further 10 clients. It is the support Structu 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 ture. The environment has Proved very challenging as we &dapted 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 hav¢ Worked hard ls a charity to brlng more resources to the table in ternis of improved grant donations and improved rental collection tIoU) som¢ excellent support wot* and liaison with the local housing benefits. We continue to build up a solid working relationship with the local authority and still provide contracted wo with Red¢ar and Cleveland Borough Council as part of a c(H)rdinated response to the homeless issue in the locality. We ontinue to build and expand our stakeholder network to enable the charity to get the best outcomes for ihe clients that we are engaged with. This includes the ongoing development of personal development opportunities With local statutory and non-stalulory agen¢i¢s wod(ing with young people on c(kIrtg 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 trnstees are now actively following a development plan to ¢r¢ate mor¢ 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 ntinues 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 maintsining investment in our properties ensuring that the tenant experience is as good as we make it. We wntinue Io WOTk in partnership witb like-minded agencies to deliver an innovative response to the growing needs of the client group irn Redcar. We intend to take up a High stet presence through the purchase and updating of the property at 15 High Street. This will be¢ome our base for Seice delivery from 2025, which is in partnership with the Keyfilnd. The charity will continue to be part of the non statutory sector response to homelessness in the Red¢ar area doing what it was set up to do- house vulnerable young people on an incre&sing scale with increasing impact. FINANCIAL REVIEW Finv4llCiVdl Review Durlng the year there has been a net outtlow of resources amounting to £16,787 (2023.. inflow £15,011). Total funds now stand at £560,051. There has been a net outtlow of unrestricted funds of £23,617 inflow of restricted funds of £6,830 The Staternent of Financial Activities on pag¢ 7 shows the charity's income and how it has been spent during the year. Not¢5 2 to 4 to the accounts on pages I l and 12 dctail 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 ttwts and other charitable sources. The Ttee5 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 ils income generation activities in the next fmancial yfdr to agsist with its self-sustainability. Page 2
Coatham House rt ofthe Tn]st¢ for the Year Ended 31 March 2024 FINAIYCIAL REVIEW Investment policy and objectives Any ttds which may be surplus from time to time are invested in dewsit accounts to ensure that they are available to the charity when required. Reserves policy On reviewing the reserves policy, the Trustees have establlshed a policy whereby the unrestrictrd fjjnds not committed or invested in tangible fed assets ('the free reseNes'} held by the charity should be between 3 and 6 months of the rtsour¢es expended on nom]al operating activities which equate to £53,250 to £106,500 in general fund5. At this level. the Ttwsttts feel that they would be able to continue current activities of the charity in the event of a significant drop in fundtng. It would obviously be necessary to consider how the funding would be replaced or activities changed. Ai present the unrestricted reserves are £548,402 but of this figure £458.997 related to fed assets, therefore free reserves are £89,405 ai 31 March 2024. The Trustees are c4)mmitted to taking appropriate action to continue to obtsin further funding to reach the targeted level of unrestricled fvnds and are sourcing further grant funding along with reviewing the a¢tiviti¢s of the trading subsidiary to optimize income generation. FtrruRE STRATEGY The board reco19¢$ that the year has again provided a very Challenging backdrop to the ongoing delivery of our setvices and dealing with the broader impact upon our client group. It h&s also changed the circumstances for fund givers with increased demand for funding at a tirne when resources to allocate have decreased. The board is committed to its funding stratebry and is working on a Clear impact statement trj support our funding endeavours as we move forward. The current board is looking at recruiting new members to Ove¢¢ the deEivery and sustainment of the organisations activities and impact. Coathom House aims fo be a top quality player in the housing and homelessness Sector in Red¢ar by creating an infrastsiJ¢ture for professional development moving forward. The board are committed to ntInuing its core services and the development of the enterprise activities via its trading The trustees would like to re¢ognise the work of the staff team, volunteers and all those stakeholders who continue to SUprt the work of the organisation in Redcar. STRUCTURE, GOVERNALYCE AND MANAGEMENT Governing document The organisation is a charitable Company limited by guarantee, incowrated on 21 March 1993 and registered as a charity on 29 September 1993. The company was established under a Memorandum of Association which estsblished the objects aTJd powers if the charitable company and is governed under Its Articles of Association. Recruitmenl and appointment of new trustees Under the Articles, two trustees will stsnd down at the AGM but are eligible for re-election. The ¢harity'5 trnstees are reinstated from its MeMbehlp, with a view to harnessing skills which atE appropriate to its activities. Organisatiollal 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 rnnning of the charity is delegated to the manager and staff team. The manager attends and reports to all Board meetings and liaises with the Board if necessary. Induction and training of new trnstees All potential new trustees are invited for a meeting with the momager and visit all the charity's proj to speak with staff and serYi¢e users. They will meet with the chair and attend two board meetings a5 observers to get a flavour of what is involved prior to agreeing to act. All new tSte¢S are issued with a copy of tbe Memorandum and Artlcles of Associatio accounts, business plan and any otherrelevant infomiation. A skills audit is carried out every one to two years to ensu that appointments to sub groups within the l)oard make best use of tnjstees, skills. Page 3
Coatham House rt of the Trustees for the Year Ended 31 March 2024 STRucfuRE, GOVERNANCE AND LNAGEME1¥r Risk management Through their regular involvement in the management of the charity the TNstees are aware of the major risks involved in nmning the charity and wlicies and procedures are in pl¢ to mvtigate these risks. A business plan is in place to guide Trustees and is subjed to review as appropriate. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to enSll consistent quality of delivery fi)r all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet tbe needs of the charity. REFERENCE AND ADMINISTRATIVE DETAIiS Registered Company number 02804567 (England and Wales) Registered Charity number 1026620 Registered offiee Charles Jolly House 1st Floor 5a High Street Red TSIO 3BY Trustees David Robert Stones Hazel Val¢rie Yare Andrew Pettersen David Eagle Amanda Mcwilliams Gutsharan HaeYa1 Singh (appointed 241412023) Company Secretary David Eagle Independent Eximiner JBC Accountants Limiled Chartered Accountants 3B tA)ckheed Court Preston Farni Stockton on Tees IS18 3SH Solicitors Cygnet Law Portland House West Dyke Road Red¢ar TSIO IDH Bankers Unity Trust Bank PL¢ Nine Brindley Place Birmlngham BI 2FtB Page 4
Coatham House rt of the Trllste for the Year Ended 31 March 2024 This rqK)rt has been prepared in accordance with the special provisions of Part 15 of tbe Companies Act 2006 relating to srnall companies. 2g- 10-LF Approv¢d by order ofthe board of trustees on............................................. and signed on its behalf by.. David Eagl¢- Trustee Page 5
Inde ndent Eumin¢r's Re rt to the Trustees of Coatham House Independent examiner's report to the trustees of Coatham House Cthe Company,) I report to the charity trustees on my examination ofthe accounts of the Company for the year ended 31 Mar¢h 2024. Responsibilities and basis of report As the chartty's trustees of the Company (and also its directors for the purwyses of company law) you are responsible for the preparation of the aOUnts in accordance with the requirements of the Compantes Act 2006 ('Ihe 2006 Act,). Having satisfied myself that the accounts of the Company att 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 YOUT charity's accounts &8 carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions givcn 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 confin that I am qualified to undertake the examination b¢¢aus¢ I am a m¢mber of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. l ¢onfirni that no rnatters have come to my attention in comiection with the examination giving me cause to believe- a¢untIng r¢¢ords were not kept in respect of tbe Company as required by Section 386 of the 2006 Act; or the accounts do not a¢cord with those records. or the accounts do not comply with the accounting rquir¢m¢nts of Section 396 of the 2006 Ad otheT than any requirement that the accounts give a trne 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 charitie5 preparing their accounts in accordance with the Financial Reporting Standard applioble in the UK and Republic of treland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to whiGh attention should be drawn in this report in order to enable a pro[ understanding of the accounts to be reached. Lynne Dickson FCA JBC Accountants Limited Chartered Accountants 3B khe¢d Court Preston Fami Stockton on Tees TS18 3SH Page 6
CoAtbAm House Stlen)ent of Financial Activities r4tiD£an Income and Ex nditure Aecount for the Year Ended 31 Mare 24 nco 31n124 Totsl funds 31t3n3 Total funds Unrestrirted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donions and lega¢ies 41,089 29,200 70,289 53,971 Charitsble aetivitie8 Supp)rting the homele55 355,357 355,357 320,056 Other ttzding activities 14,932 14.932 5,748 Total 411,378 29,200 440,578 379,775 EXPENDITURE ON Charitable activities SuptKTrrting the homeless 434,995 22,370 457,365 364,764 NET INCOMEI(EXPENDrruRE) (23,617) 6,830 (16.787) 15,011 RECONCILIATION OF FUIYDS Total funds brought fonvard 572.019 4,819 576,838 561,827 T(yfAL FUNDS CARRIED FORWARD 548.402 11,649 560,051 576,838 The notes fomi part ofthese financial staternents Page 7
Coatbam Hou Bxlanee Sheet 31 March 2024 3113124 TotAI funds 3113123 Totsl funds Unrestricted funds Restricted nds Notes FIXED ASSETS Tangible assets Investments li 12 458,996 458,996 446,421 458.997 458,997 446.422 CURRENf ASSETS Ikbtors Cash at bank and in hd 13 35,529 140,339 35,529 151,988 62.602 161,788 11.649 175,868 11.649 187,517 224,390 Amounts falling due within one year 14 (20,635) (20,635) (21,594) NET CURRENf ASSETS 155,233 11,649 166,882 202.796 TOTAL ASSETS LESS CURRENT LIABILITIES 614230 11,649 625,879 649.218 CREDrroRS Amowits falling due after more than one year 15 (65,828) (65,828) (72,380) NET ASSETS 548,402 11,649 560,051 576,838 FUNDS Unrestricted funds Restricted fvnds 18 548,402 11,649 572,019 4.819 TOTAL FUNDS 560,051 576,838 The Chilable company is entitled to exernption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its fmancial 5tatrrncnts for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trnstees acknowledge their responsibilities for {a} ensuring that the charitsble cornpany keeps acwunting records that cotnply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true Imd Fair view of the state of affairs of the charitable company as at the end of &2ch fmancial year and of its surplus or deficit for each financial year in accordance wilh the requirements of Se¢tions 394 and 395 and which oiherwi5e comply with the requirements of the Companies Act 2006 relating to financial statement4 so far as applicable to the charitable company. Ib) The nofrs forni part ofthese financial statements Page 8 ontinued...
Coatham Hous¢ Balance Sheet- continued 31 Mareh 2024 These fmancial ststements have been prepared in accordance with the provisions applicable to Charilable companies subject to the small mpanIeS re¥ime. The financial statements were approved by the Board of Trustees and authorised for issue i o -trr.......... and were signed on its behalf by.. on David Eagle- Trustee The notes forrn part ofthese financial statements Page 9
Corlthgm House Notes to the Finaneigl Statements for the Ye2r Ended 31 Mgdrch 2024 AccouNfiNG POLICIES Basis of preparing the financial statements The financial ststernents 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 charities preparing their accounts in accordance with the Financial Reporting SLqndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Flnancial RertIng Standard applicable in the UK and Republic of freland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which a included at market value. The tNstees consider that therc are no material uncertainties alx)ut Coatham House's ability lo continue as a going concern and as such, these fLnancial statements have been prepared on the going concern basis. Ineome All income is recognised in the Statement of Financial Activities whell the charity is legally entitled to the income and the arnount can be quantified with reasonably accurdcy. There is no netting off of expenditure wÉthin the accounts. Gifts in kind are included within donations in the SOFA at an estimate of the cost of providing th¢ s¢rvice. 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 Balan¢e Sheet. The income is treated &s a restricted fund and deprecialion Charged to it each year. Revenue grants are ¢T¢dtted to the SOFA for th¢ year to which they relate. Expenditure All expenditure is accounted for on an accruals b&8is and includes attributable VAT which cannot be recovered. Expenditure is recognised once there is a legal or constrnctive obligation to make a payment to a third party, it is probable that settlement will be requi1 and the amount of the obligation can be measured reliably. Charitabl¢ expenditure comprises those costs Incued by the Charity in the delivery of its activities. It include5 both costs which can be directly allo¢aled to a¢tivities and those costs of an IndiCt nature necessary to supp)rt them. Governance costs are those incuJTed in connection viith compliance with constitulional and stthtory requirements. Grants offered subject to condition5 whi¢h have not been met at the year end date are noted as a cornrnitment but not accrued as expenditure. Tangible fixed assets Depreciation i5 provided at the following annual rate5 in order to write off each asset over its estimated usefvl Short le&g¢hold Fixtures and fittings Motor vehicles IO% on cost 25 /• on cost 25% on cost Tangible fixed &ssets are stated at cost less aGrumulated depreciation. Cost includes costs dir¢¢tly attributable to making the asset capable of operating as intended. Related patty exemption The charitable company kn taken advantage of exemptio under the ternis of Financial Reporting Standard 102 'The Financial Rep)rting Standard applicable in the UK and Republic of Ireland,, not to disclose r¢lat¢d party transaclions with wholly 0med subsidiaries within the group. Page 10 continued...
Cogtham House Iyotes to the Finan¢ig1 Siatements- continued for the Year Ended 31 Mareh 2024 ACCOUNTING POLICIES- continued Taxation The Chlty is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to p&ss the tests set out in paTagrnph I 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 fjjrtherance of the genernl objectives of the charity and which have not been designated for other PUTposes. Designated funds MpriSe unrestricted funds ihat have been set &side by the trustees for particular purposes. The aim and use of each designated nd is set out in the notss to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imp)sed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering the ndS are Charged against the specific fund. The aim and use of each restricted fund 15 set out in the notes to the fInancial statements. PeDsIon scheme The charity operates a fully insured, contributory defined contribution pension scheme for all ernployees. The charity contributions are Gharga to the SOFA in the period to which they relate. DONATIONS AND LEGACIES 3113124 3113123 Donations Grants 21,089 49.200 2.456 51,515 70,289 53,971 Graltts receive included in the above. are as follows: 2024 2023 Ballinger Trust County Durham Community Fund Kickstart scheme Virgin Money Foundation" Power to Cbange The Alb¢rt Hunt Trnst Cleveland Fire Brigade W(M)dsmith Foundation B&Q Foundation Help the Homeless Tees Valley Communty Fund 20,000 5,500 15,000 7,515 8,000 14,000 15,000 4.000 5,000 5,000 1,700 49,200 51,515 Page 11 continu¢d...
Coatharn Hous Notes to the FiDanci41 Ststsments- continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 3113124 3113123 MIslIanc0uS incom¢ 14,932 5,748 INCOME FROM CHARABLE ACnVITIES 3113124 3113/23 Renls and housing benefits Support services Supporting the hom¢less Supporting the homeless 324,157 31,200 283,856 36,200 355.357 320.056 CHARITABLE AcrtVITIES co&rs 2024 2024 2024 2023 UDttstricted Restricted Total Totsl Costs allocated directly to activities.. Staff costs Premises costs Telephone, post stationery & advertising Insuran¢e Travel & training Sundry costs Bad debts Depreciation Grdnts payable to subsidiary 158.416 87.748 2,439 9,394 3,157 2,098 39,979 2,423 37.607 158,416 109,015 2,439 9,394 4,258 2.098 39,979 2,425 37,607 148,292 70,429 1,439 9,272 3,906 2,801 43,458 2,892 7,515 21,267 I,ioi Support costs (see note 6) 91,734 91,734 74.760 434,995 22,370 457.365 364,764 SUPPORT COSTS 2024 2024 2024 2023 Unrestrithed 8,029 24,898 15.918 22,041 Restric*d Total 8,029 24,898 15,918 22,041 Totsl 8.320 20,766 13,218 20,004 l(M) 3244 559 Staff costs Premises costs Telephone, post, stationery & advertising Consultan¢y ftes Legal & professional fees tKJan interest Sundry costs Governance ¢osts: - Staff costs - Accountancy fees - Legal & pmfessional fees 5,081 1,122 5,081 6,304 2,808 5,533 6,304 2,808 5,533 5,588 2.808 153 91,734 91,734 74.760 Page 12 ontinued...
Coatbam House Notes to the Financigl Statements- Continued for the Year Ended 31 March 2024 NET INCOMEI(EXPENDITURE) Net incomel(expenditur¢) is stst¢d after chargIn(creditig}. 3113124 3113123 Depreciation- owned assets 2,425 2.892 TRUSTEES, RE[uNERAT[oN AND BENEFITS There were no trustees, remuneration or other benefits for ihe year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trnstees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 31n124 3113t23 Wages and salaries Social security costs Other pension Costs 157.457 8,469 6.823 148,973 7,497 5,729 172,749 162,199 The average monthly number of employees during the year wa5 a5 follows= 31ll4 3113r23 Office Hostel and Outreach io io No employees received emolumenls in excess of £60,000. io. COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES Unrestrictsd fun Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,456 51,515 53,971 Charitable activities Supporting the homeless 320,056 320,056 Other trading activities 5,748 5,748 Totsl 328,260 51,515 379,775 EXPENDITURE ON Charitsble aetiwities Supporting the homeless 317.494 47270 364,764 Page 13 continued...
Cogthgm House Notes to the Finan¢ial Ststements- CODtinued for the Year Ended 31 March 2024 io. COMPARATTrTS FOR THE STATEMENT OF FINANCIAL ACTIVITIES . continued Unrestricted Restricted funds fund$ Total funds NET INCOME 10,766 4245 15,011 RECONCILIATION OF FUNDS Total funds bK)ught forward 561253 574 561,827 TOTAL FUNDS CARRIED FORWARD 572,019 4,819 576,838 TANGIBLE FIXED ASSETS Freehold property Short Improvements leasehold to property COST At l April 2023 Additions 429,999 15.000 89,880 31.408 At 31 March 2024 444,999 89,880 31,408 DEPRECIATION At l April 2023 Charge for year 89.880 16.171 1,640 At 31 March 2024 89,880 17,811 NET BOOK VALUE At 31 March 2024 444,999 13,597 At 31 March 2023 429,999 15.237 Fixtures and rIngS MoÉor vehieles Totsls COST At l April 2023 Additions 54,153 5,000 610,440 15,000 At 31 March 2024 54.153 5,01)0 625,440 DEPRECIATION At l April 2023 Charge for year 52.968 785 5,000 164,019 2,425 At 31 March 2024 53,753 5,000 166.444 NET BOOKVALUE At 31 March 2024 458,996 At 31 March 2023 1,185 446,421 Page 14 continued...
Coatham House Notes to the Financial Ststements - eontinued for the YeAr Ended 31 Marcb 2024 ii. TANGIBLE FIXED ASSETS- eontinued Tangible fixed assets includes a motor v¢hi¢le (net I)k value £nill which was purchased using a grant from Help the Homeless. The freehold properties were valued by the trustees at open market value a5 at 31 Mah 2024. The original cost ofthe freehold property was £361,673 (2023: £361,673)- A deposit of £15.000 been paid in the year in respect of the purchase of a property, which has been completed in July 2024, at a total cost of £170.000. 12. FIXED ASSET I1EsTmENrs Shares in group undertakin MAlUT VALUE At l April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 There were no investment assets outside the UK. The company's investments at the balance sheet date An the share capital of companies include the following: Coatham House Enterprises Limited Registered office: United Kingdom Nature of business: L£t5 accotnmodation to young people Class of shAre: Ordinary holding l(K> 3113n4 3113n3 Aggregate capital and reserves Profit for the year (342) 38,427 (38.769) 4.545 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113124 3113123 Trade debtors Amounts owed by group undertakings Other debto PpaYMentS 29,624 17,896 38,585 52 6.069 52 5,853 35,529 62,602 Page 15 continued...
Coatham House Nots¥ to the FlnAneial Statements- continued for the Year Ended 31 March 2024 14. cREDORS. AMOUNTS FALLING DUE WITHIN ONE YEAR 3113124 3113123 Bank loans and overdraft8 (see note 16) Trade creditors Other creditors A81$ and deferred income 8,768 2.539 1,137 8.191 8,448 865 5,560 6,721 20,635 21,594 Is. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 3113124 3113123 Bank loans (see note 16) 65.828 72,380 16. LOANS An analysis of the nlty of loans is given below: 2024 2023 Amounts falling due: Within one year Between one and two years Between two and five years More than five ye5 8,768 8,768 26,163 30.897 8,448 6,800 20,400 45.180 74,596 80,828 The above includes an interest-free loan awarnled by the Quaker Housing Trust, The balance will be repaid over the next 5 years. There is also a loan from Unity Trust Bank plc which is repayable by monthly instaiments over 10 years at an interest ratr of /. Security has been given for amounts included in creditors of £52.546 (2023.. £55,028). The Unity Trust Bank plc h&s a charg¢ over the ppertY al l Bank StreeL RedGar. 17. LEASING AGREEMENTS Minimum lease payments under nOnancelIable operating leases fall due as follows: 3113124 3113123 Within one year Between one and five years 7,750 5,400 13,150 15,500 13.150 28,650 Page 16 continued...
Coatbam House Notes to the Fin*ntig1 Ststements- Continued for the Year Ended 31 March 2024 MOVEMEIYf IN FUNDS Net movement in ndS At 114r23 At 3113124 Unrestricted fun(ts Unrestricted funds 572,019 {23,617) 548,402 Restri¢¢¢d funds Community Foundation Cleveland Fire Brigade County Durham Conununity Foundation Virgin Money Foundation" Power To Change Woodsmith Foundation (2) (4,817) 2.750 4,817 2,750 6,899 2.000 6,899 2,000 4.819 6,830 11,649 TOTAL FUNDS 576,838 (16,787) 560,051 Net movement in funds, included in the above are as follows: Incoming resources Resourtes expended Movement in funds Unrestricted funds Unrestricted funds Ballinger Charitable Trust 391,378 20,IM)O (414,995) (20,000) (23,617) 411,378 (434,995) (23,617) Restrieted funds Community Foundation Cleveland Fire Brigade County Durham Cornmunity Foundation B&Q Foundation Tees Valley Community Fund Virgin Money Foundation. Power To Change Woodsmith Foundation Help the Homeless {2) (4,817) (2,750) (5,000) (1,700) (2) (4,817) 2,750 5,500 5,000 1,700 8,000 4.000 5.000 (I,ioi) (2,000) {5,000) 6,899 2,000 29200 (22.370) 6,830 TOTAL FUNDS 440,578 (457,365) {16,787) Page 17 continue(L..
Coatham House Notes to the FinaneiAI Stsiements- continued for the Year Ended 31 March 2024 i& MOVEME IN FUNDS- continued Comparatives for movement In funds Net movement in funds At 114122 At 3113123 Unrestrieted funds Unrestricted funds 561,253 10,766 572,019 RestrACted fun(ts Community Foundation Cleveland FAr¢ Brigade 574 {572) 4,817 4,817 574 4245 4,819 TOTAL FUNDS 561.827 15.011 576.838 Comparntive net rnovement in funds. included in the atK)ve are &$ follows: Ineoming resources Resources exp¢Dd¢d Movement in funds Unrestricted funds Unrestricted funds 328260 (317,494) 10,766 Restricted funds Ballinger Communlty Foundation Kickstart The Albert Hunt TTUSt Cleveland Fire Brigade 15,000 (15,000) (572) (7,515) (14,01)O) (10,183) (572} 7,515 14,000 15,000 4,817 51,515 (47.270) 4245 TOTAL FUNDS 379,775 (364.764) 15.011 A grant of £20.IM)O from Ballinger has been used to fund core costs during the year. The remainder of the grant from Cleveland Fire Brigade, together wilh new ants from County Durham Found10n, B&Q, Tees Valley Community Fund. Woodsmith Foundation and Help the Homeless have contributed tr)wards the costs of rerbiShrnent work carTied out on th¢ hostel and other property used for Charitable adiviti¢s. £2.750 (County Durham Community Foundation) and £2.000 Iwoodsmith Foundation) remains unspenl at 31 Mah 2024 and will be carried forward to meet costs in 2024125. £8.000 h&$ been received from the Virgin Money Foundation Power to Change for partiCApation in the Leading the Way progrdmme and will b¢ used to d¢v¢lop leadetship skills within the organisation. £6,899 will be wried forward to be used in 2024125. Page 18 continued...
Coatham House Notes to the Financial Statements- continued for the Year Ended 31 March 2024 19. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. 20. STATirroRY INFORMATION Coatham House is a company limited by guarantee and has no share ¢apitsl. The company is registered in England and Wales and its registered number and office address can be found within the 'Reference and Adrninistrative Details, of th¢ Rep)rt of th¢ Trustees. Page 19