TURninGTIDES ENDING LOCAL HOMELESSNESS TURNING TIDES HOMELESSNESS TRUSTEES, REPORT & FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charitable Housing Trust A Company Limited by Guarantee Registered a5 TurningTides Homelessness Charity Number: 1027832 Company Limited by Guarantee.: 2708334
Turnlng Tldes Homelessness R e p o rt s and Flnanclal Statement5 forthe.year Ended 31 March 2024 CONTENTS PAGES Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsors Trustees, Report--- - 4.20 Independent Auditors, Report - Staternent of Flnanclal Activltles-.------- -21.23 --24 Balance sheet-- -25 Staternent of Cash Flows--- -26-27 Noles to the Flnanclal Ststements-_ .28-39 Page,. ?.
Turning Tldes Homelessne55 Re p o rt5 and Flnanclal 5tatement5tor the Year Ended 31 March 2024 Reference and administrative details of the Charity. its Trustees and Advisors Trustees lan Mintram {Chalrl Richenda Kullar {CompanySecretaryl Duncan Anderson Nick Beverley-Hedger (Appolnted 25 Sept 20231 Timothy Cooper (Chair Finance and Audit Commlttee) Moira James (Resigned L7 July 20231 8illJones Danlel Keeth (Appointed 19 Feb 20241 Jane Lodge (Roslgned22July2024) Alwen Lyons (ReslBned 12 Jan 2024) Martln Qulnn Jonathan Rosser (Appolnted 13 May 2024} Davld Standlng (Reslgned 25 Sept 20231 Marlanne Wrlght (Appolnted 19 Feb 2024) Company Reglstered number 2708334 Charlty RegSstered nuniber 1027832 Registered offlce Worthlng Town Hall Chapel Road Worthlng West Sussex 8NII IHA Company Secretary Rlchenda Kullar Chlef Executive John Holmstrom Independent Auditors Sheen Stickland Chartered Accountants 7 East Pallant Chichester West Sussex P019 ITR Bankers HSBC Goring Road Woi'thing West Sussex BNI?.4AW Page.. 3
Turnlng Tldes Homelessness R e p o rts and Financlal Statementsforthp. Year Ended 31 March 2024 Chairfs Statement This year Turnlng Tides helped another record number of people to step out of the marBin5 of socletv and begin to f ind a pathway out of homelessness- in total 1,057. We have seen people from all walks of life, many of them newly homeless due to the cost-of-Ilvln8 crlsis and struggling to process what has happened. Nevertheless, alongside the trauma and hardshlps we are also humbled and prlvlleged to See the transformatlons people make when they are gSven the right support, in the rlght way, at the right time. Thls profoundly indlvldual, sensltlve, and holSstlc approach underplns all our work, Hlstorlcally, homelessness generally, and the worl( of Turnlng Tldes speclflcally, has been underreported. We are delighted therefore to have achleved natlonal media coverage In both May 2023, when the charlty was featured on the BBC'5 The One Show and agaln In March 2024 on the BBC'S Polltlcs South East Show. We are proud that Turnlng Tldes features as an example of 'best practlce., Importantly, the programmes Included intervlews wlth Turnlng Tldes cllents. We are Increasingly Incorporatlng the experlence and perspectlves ol our cllents Into our work, for example In our hubs, wlth very posltive results. A current and malor challenge Is the Increaslng complexlty of clients we are worklng wlth. Thls Is often assoclated wlth the Increaslng Impact of substance mlsuse and Connected poor mental health. Our prompt and thorough response to thls Issue Is a fine example of the com mltment shown by our team. We are extremely grateful to all of our dedicated staff, We are pleased that we have been able to cover our costs thls year, With a rlslng need for our seNlces In the communltles we serve and uncertalnty over future lur)dingi flnanclal challenges are ever present, If you have supported Turnlng Tldes durlng the last year - In any way, It mlRht be through donating vour tlme as a volunteer or donatlng goods or money - we are exlrernely grateful and would Ilke to tha nk each of you. Your generosity helps people to flnd lasting pathways out of the desperation of homelessness. Your support contlnues to be vital to US, lan Mintram Chalr ofTrustees June 2024 PaÉe'. 4
Tiirnlng rides Homelessness R e p o rts and FSnanclal Statements for the Year Ended 31 March 2024 The Trustees present their annual report together with the audited financial statements for the year I April 2023 to 31 March 2024. The Trustees conflrm the Annual Report and financial statements of the Cha rlty comply with current statutory requlrement5 of the Charity's governlng document and the provlsions of the Statement of Recommendod Practlce ISORPI, applicable to all charitie5 preparing theSr accounts in accordance wSth the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102, effectlve l January 20191. The Charlty 15 consldered to be a Charltable Housing Trust as def ined by the Houslng Assoclatlon Act 1985, Since the CharSty does not quallfy for the small companles, ieglme, the strategic report requlred of medlum and large companies under The Companles Act 2006 IStrztegSc Report and Dlrectors, Report) Regulatlons 201315 Included, About TurningTides Turnlng Tldes, provlously Worthlng Churches Homeless Prolecls (WCHPI, was established by a Eroup of local ChrSstians In 1992, providing practical help and suppoil to the local people sleeplng rough In Worthlng. The Charity rebranded in 2018 to Turnlng Tldes, ieflectlnB the development and dellvery of services countywlde, Now, Turning Tldes provides a wlde range of homeless support 5ervlces across West Sussex, all strlvlng to achleve complete pathways out of homelessness. The Charity looks lo enhance and develop a broad range of services to meet the dlverse needs of those who have nowhere to call home, Approach ofTurning Tides Fundamental to the Charlty's approach Is understandlng every cllent has thelr own unlque set of cl rcumstances which led to them becomlng homoless. Con5equentlyi we offer a varied and hollstlc model spannlna low, medium and hlgh support services. Empowerlng each cllent to achleve Independent Ilving is a unlque porsonal Journey, requlrlng 5ervlces to be responslve and tallorcd, nnovative and d5verse, Turnlng Tides Is firmly committed to belng psychologlcally and trauma Informed la PIE approach.. Psychologically Informed E nvlronmentl. Thls mean5 we work carefully to understand the typlcallv traumatlc events leadlng to a person becomlng homeless and the emotlonal impact of thelr experiences. We seek to create a safe and positive relationshlp and envlronment so clients can begln to rebu11d thei r live5 and thrlve, Our services are contlnually developed and delivered responsSvely to cllent need. TakSng a strengths-based and systems approlc ch, Turnlng Tides also seeks to coordinate resources acr055 the sector5 and within the community. Endlng local homelessness cannot be achieved by the Charity alone, Time and time again the challenges and barriers clients lace are systemic. I'he Charity l istens lo their experience and worl(s with colleagues in other related sy5tem5 such a5 housing, health, social care, substance misuse and crlminal justice to create a 'coalltion of the willing" to end local l)omelessness. Charitable Objects Turning Tides is cl charitable FIou5ing trust whose objects, as sel out in its Memoranduin ol Association, are to relieve poverty ihrough the provision of emergency and other accommodation, advice and a551stance for persons who are deemed homeless and / or in need of such accommodation, advice or assistance. Pil8Q'. 5
TurnlnK Tldes Homelessness R e p orts dnd FlnanGlal Statements fortho Year Ended 31 March 2024 Our Vision, Mission and Ambltions Our Vision EndSng local homele55ness in the areas in which Turning Tides operate, Our Mission We are a community-led Charlty whlch puts cllents and local people al the heart of our m1551ors to end homelessness, To do thls we wlS1 be,. Ambltlous- homele55ness Is not an Inevltabllltv A volce for homeless men and women A place of safety, respect and trust KSnd, generous and warm hearted Engaglng, motlvatlng and insplring Inclusive and welcomlng Valulng falth, spl rltuallty and our Chrlstlan roots Led by our clSersts' and communltles, expertlse 3nd experience. Our Ambitions To reduce rough sleeper numbers and develop pathwaysout of homelessness To be led by our clients, and communlties, expertlse and experlence To be Innovatlve and deliver good value In order to wln new resources To grow a thrlvlng charlty where people enjoy workln8 and feel empowered to create a brlght future for themselves and others, Services of TurningTldes The Charlty provides a dlverse range of service5 to meet the variecl and complex needs of those who are homeless or at rlsk of becomlng homeless. We operate across West Sussex coverSng Adur and Worthlng, Llttlehampton, Horsham Distrlct, Mid Sussex and Crawley, 1057 Indlvldual clients accessed the Charity's servlces In 202312024, 433 of whom were new cllents, As at the end of March 2024 the Charity had 170 pald staff and 197 volunteers who currently deliver: Hubs and Outreach - Multl-agency centres where anyone who Is homeless or Insecurely housed can recelve practical help such as food, showers and clothing. Specialist 5t3fl support clients into appropriate accommodation and hel p with health needs. Groups and communitv inclusion activities are held, reducing soclic l isolation. Outreach Teams also work in Horsham and Mid Sussex, including a Rough Sleeper Coordinatoi. PaAe', 6
Turnlng Tldes Homèlessness R e p o rt s and Flnanclal Statementsforthèyear Ended 31 March 20241 Hlgh Support Restdentlal wlth 2417 cover- 4 projects wlth 114 beds: Byron Road, Worthing- 16 bed complex-needs, o Recovery Prolect, Worthing- 31 bed Care Quality Commlssion I'CQC'I reElStered drug rehabilitation, o Manor Road, Worthing- 17 bed complex-needs, Roffey Place, Horsham- 50 bed complex.needs Medlum and Low Support Move on Houslng- 17 propertles wlth 113 beds: o Worthing 8 houses 162 beds) o LSttlehampton - 3 houses 116 beds) o Storrlngton I house 15 beds) Horsham-.-____ 2 houses 18 beds) o Mld Sussex- 3 houses 122 beds) Multl-Dlsclpllnary Team - speclalist staff who provide addltlonal support to cllents across servlccs,. o Soclal Workers o Mental Health Workers o Counselllng Coordlnator o Complex Needs Speclallst5 o Substance/Alcohol MIsu5e Workers o Llved Experlence and Trauma Informed Navl83lors o Houslng FSrst Workers Strategic Revlew The Board of Trustees sets an annual budget accompanled by 3 5-yeai f Inanclal 8Ltsiness Plan every March. Thls Is accompanled by a detalled Organlsatlonal Plan which sets out how the Buslness Plan wlll be dellverod, The Organisatlonal Plan has 6 overarchlng oblectlves to dellvef our four ambltlon5 set In 2019 (please refer to page 61, Progress agalnst the Pla n Is revlewed quarterly by the Management Team and Board of Trustees usinR a Red Amber Green IRAGI system, In addition, Key Performan Indicator5 IKPlsl are monitored across all the Charlty's services and functlon5, These are also revlewed quarterly by the Management Team and Board of Trustees, Pi(Re',7
Turnlng Tldes Homelessnp.s.s R e p o rts and Flnanclal Statement5fortheYear Ended 31 March 2024 Achievements, Challenge5 and Performance Our dedicated staff and volunteers strive to ensure no one faces the trauma of homelessness alone and durlng the perlod of thSs report they supported a record number of 1057 people. Our Services Our drop-ln CommunSty Hubs and Outreach Teams have helped 463 people over this period. They also report evermore dlverslty in the people they see. many havingwhat seemed to be 3 'normal' Ilfe, with a lob and home, only a few months prlor to pre5entlng for help. Moreover, some people are homeless and still In employment, using our facillties to mal ntaln some normality and dignlty as they try and hold onto work and routine. The cost-of-llving crlsls15 extractlng a heavy price f rom many In our soclety who have Ilttle savlngs or support on which to lean. Thls was the first full year of operation of our new hlgh support resldentlal prolect- at 50 room5 It15 our largest yet - at Roffey Place, near Horsham and Is a collaboiatlve response between Turning Tldes and Horsham Distrlct Council. In a rural settlng, the bulldlng has been completely ref urb15hed to a hlgh standard wlth the support of volunteers and the local communltv, Worklng In conjunction wlth our multl-dlsclplinary teams, both our hlgh support accommodatlon and our lowlmedium Support houslng enable resldents wlth complex needs to aspire to thelr full potentlal and move towards Independent Ilvlng. Challenges A current and malor challonge Is the Increaslng complexlty of the cllents we are worklnE wlth. Thls Ss often a550ciated wlth the Increasing Impact of substance mlsuse and connected poor mental health. We are a member of thc West Sussex Combatlng Drugs Partnershlp. An 85% reductlon the amount of Heroln comlng out of Afghanlstan has led to an eKponentlal Increase I n the availablllty of 5ynthetlc opiates whlch can be anythlng f rom 50 to 1000 tlmos more potent than street herolii resultlnR Sn splke In overdoses. Added to thls there Is an I ncrease In the ava113bility of synthetlc drug5 over the Intornet dellvered to your door or purchased vla QR codes on lamp posts. Naloxone Is a safe mediclne that rap5dly reverses an oplold overdose. As part of our overall response, we have rapidly distrlbuted Naloxone out Into the communlty and are ensurlng that both cllents and tralned staff are carrylng It. We have also Installed Naloxone boxes In all our resldentlal and hub services. Recent achlevements We have continued to develop a more co-produced and trauma-lnformed Organi5ational ethos, This continues to be supported by the Sussex wlde 'ChanEing Futures, programme. Thls Is a system change progra mme for people experlencing multiple disadvantages, funded initially by the Department lor Levelling Up, Housing and Communlties IDLUHCI until November 2024, This provldes a Trauma Informed Navigrltor and 2 staff who use their lived experience lo build deep connection wlth our most vul nerable clients and guide Staff and Managers in the co-desiEn and del ivery of our services, Through tho development of these roles we have also been able to introduce o peer support training and volunteer programme with funding via the NHS. These voluntary roles have made such a positive diffo.rence to the Worthing hub in the Wii V that St feels and the sense of 5afelV and connection5 that the peer support worl(ers bring. In addition, it makes a real differe nce to their lives giving them a sense of purpose and l(nowing the difference they are mak5ng. Page.. 8
TurnlnE Tldps Homples5ne5s Re p o rts and Flnaticlal Statements for tho Year Ended 31 March 2024 The recent receipt of ONID (Office for Health Improvement and DisparitSesl resettlement funding has bee n a real game changer. It include5 funds for a dedicated resettlement manager and a mental health worker In supporting clients with a history of substance misuse, Includlng some dual diagnosls clients, to move into their forover homos. It also Includes sufflclent funding to pay for deposlts, the cost of removals and completely fit out flats with new carpets, curtains, furnlshlngs, white goods and cookers. This 311 ensures that clients have the greatest opportunlty for succe55, Building trustlnE relationshlp5 with landlords ha5 also been a cornerstone to the success of this prolect and much posltive feedbac1( has been received. A blg success durlnE the year has been conf irmatlon from the Regulator of Social Housing that we are through to stage 2, the flnal stage, of our application to become a Houslng Association. This is a masslve achSevement and over the next few months we wlll be working hard to complete thls. A successful application would al low acce5S to capltal fundlng for new, better bulldings and to renew our older hou5Ing stock to meet longer term sustalnabillty targets Isuch as net zero by 20501, Longer term th15 would place us in a stronger position to apply for revenue fundSng for new supported houslng schemes, In recent years the Government has shown a preference to Invest capltal/revenue In reglstered provlders. OurTeam We are incredibly grateful to our Staff for thelr huge commitment and dedlcatlon throughout the contlnued challenges faced by the Cha rity, Operational staff are, understandably, feeling the stretch as they manage an Increase In need along51de an Increase In complexity and thelr work Is a constant sou rce of prSde for the Trustees. Inve5tlng In Our Teams Our Teams continue to be committed to the mlsslon and vlsSc)n of Turnlng Tldes and are key to the success of the Charlty. I'hey are integral to maklng Turnlng Tides a great place to work and through co"production, Staff are Involved In varlous Inltlatlves to ensure we contlnue to Improve how we go about our day-to-dtiy worl(, We value staff input and feedbac1< Into everythlng we carry out, and everyone can have their say through 'Your Volce,, our Internal staff feedback forum, We attach great Importance to tra ininE our people and our focus this year has been on compliance and mandatory tralning and reflective practice for our Operational team5. We also offer a wide range of supplementary trainlng alongside an extensive library of onllne courses and learnSng to support the ontSnual development of sl(ills, Our next annual Staff Conference Icil<e5 place in September 2024. Itls both an opportunity for all teiims across the organisation to connect with each other and to understand more about some of the latest challenges that face our sector. Dlversityi Equality, and Incluslon Diversity, Equitv, (ind Inclusion liilVQ t]Iso been a signific¢int are(i of focus. We lic unched the Diversitv Group to ensure we consider Ihese fclctors in a51 our worl(. The grDLJP meets quarterly and includes people frorn acros5 the Charity with a shtired goal to bring chcillenge where needed and ensure we are Iruly Incluslve, PaEe'. 9
Turnlng Ttdes Homelessness Re p o rt s and Flnanclal Staternents fortheyear Ended 31 March 2024 Health and Wellbelng The challenges we all face In our wlder lives can have an Impact, sometimes affecting our mental health andlor our financial situation. As a person-centred Charitvi the health and wellbeing of all our stakeholders incl uding clients, volunteers and staff, Is an ongoing prlorltv. We are pleased to continue to offer Medicash to staff. It offers a wide range of traSning, meditations, 24-hour GP service and digita I physlotherapy along wlth the cash plan element which has the option of adding famlly members. We also contlnue to offer the 24/7 Employee Asslstance Programme whlch offers I:1 counselling for employees and assistance wlth any work, personal or famlly Issues. In addltlon, Reflectlve Practlce and our Internal Counselllng Team contlnue to be key In offering support to our frontline Teams who are often dealSng with trauma, and we are looklng to develop thls offerSng further in 2024/25, Volunteers Volunteers are cruclal to the dellvery of our servlces and thelr support can be transformatlonal for cllents, Thls year 197 volunteers supported our work across the Charlty, provlding a generous and hugely valuable 11,060 hours of support, We also held 50 corwrate volunteer sesslons, We are Incredlbly gratef ul for all the wonderful volunteers who glve thelr tlme so freely to support the people we Serve, Without them we could not achleve these amazlng outcomes, Communlty Support Turnlng Tldes relles on the support and generoslty of Its local community and we are thankful to those who felt able to donate. The Fundralslng and Communlcations Team worl(ed hard to ralse £488k throughout thls year. Thls Included two speclflc campaigns, the Hldden Homeless appeal along wlth our Christma5 Appeal whlch asked for support over the cold wlnter months. Cruclally, our Fundrai51ng ncome provides addltlonal funds wh Ich enable the Charlty lo be aglle and iesponslve and help to protect its Sndependence. Alongslde our campalgns we ran a serles of events and other Inltiatlves, and the whole Team engaged In many speaking engagements as we sought to contSnue to ralse awareness across West Sussex, Support came from all sectors of soclety: schools, churches, corporates, soclal groups, sports clubs and many more. People undertook all sorts of f undralsing challenges to support us, Includlng Hercule Van Wolfwinkle whose fundraisSng and awareness ralslng Is Invaluable. In term of Communlcations, our worl< wlth rural and hldden homelessness contlnued to recelve national attention, In April 2023, representatives from Turning Tides, joined a vltal roundtable discusslon with the Mlni5ter for Hou51ng, Homelessness and Communities, call ing for action on the rural homelessnes5 crisis. Thls came about as a result of Turnlng Tldes, Involvement in the Rural Homelessness Counts Coa1itlon - an Snltiative whlch unltes key organisation5 such as English Rural, The National Housing Fcderatlon and the Centre for Homelessness Impact, amongst others. The Coalition's mission Is to address the often overlool(ed, mlsunderstood, and growing crisis of rural homel essness in England, This theme wa5 further picl<ed up in May 2023, when the chailty was featured on thp BBC'S The One Show which IncludLd ari interview with 2 Turning Tido5 client, who spolie about his timo livSng in rl rural location. In June, pledges made by Prince Willlam about homelessness Meant Turning Tide5 was approached by several radio stations f or commont. PaEe.' 10
Tvrnlng rides Homele5snoss Re p o rts and Flnanclal Statement¢forthoYear Ended 31 March 2024 The release of the Government'5 rough sleeping figures In Februa ry 2024 saw Turnlng Tides agaln called on for comment and interview in a range of publlcatlon5 and broadcast media including BBC South East and BBC News Dlgltal, The BBC Politics Show South East I n March 2024 featured a Turning Tides client, a resldent of Roffey Place Horsham. The art group whlch meets regularly at the St Clare's hub In Worthing featured In several pieces In Worthing's Inside Magazine over the year, and there was also medi3 coverage of the annual sleepout. Also, throughout thls year, the Business Development Team Secured £2.44m through grants and trusts, These applications were doubly challenglng, not only due to the c05t of Ilvlng crlsls but also because the Charlty has expanded to meet the Increased need In our community. As our turnover now comfortably exceeds £5m, thls can limlt the scope of grants and trusts open to our applicatlon. Income f rom the Business Development Team not only ensured our exlsti ng services contlnued to support as many ¢51ents as posslble, but also led to the development ol new servlces, PaKe,' 11
Turnlng Tldes Homelessness R e p o rts and Flnanclal Statementstortheyear Ended 31 March 2024 Key Performance Indlcators 2023. 2024 % Increase or Decrease122123 231Z41 2021- ?.022 2022- 2023 Pathwuys out of homelessness.. 1057 Total cl ients supported 883 938 +13Yo 433 Total new cllents supported 351 372 +16% Average length of rough sleeplng of new clients (ln weeks) -18% Number of people rough sleeping at end of Q4 Irestatedl 28 34 36 +6% Safeguarding Reports Hlgh support accommodatlon.. Total units of accommodatlon 20 19 +171'h 92 100 111 +IIOA 95% % Occupancy 90% +5% Number of new clients taking up residencles 125 177 172 -3% 26 26 28 Average length of stay lin weeks) +8% 158 Total move-ons 133 147 +7Y. 'A planned departures Irestatedl Low/Medlum support houslng.. Total unlts of accommodation 62% 65% 57, -80A 115 114 113 -10 87% 930h % Occupancy Number of new client5 taking up residencles Average length of stay lin weeks) Total departuros /0 planned departures HR.. 89Q/, 88 79 67 -io% 75 72 67 81 79 64 -20 800 62% -50 Voluntary staff turnover Irestatedl 17% Page,. l?.
Turnlng Tldes Homelessness R e p o rts and Flnanclal Statomentsfoytheyear Ended 31 March Z024 3.8% 3.9°h Staff sickness total average /0 working days lost Heulth & Safety und Malntenonce.. Health & Safety compliance % Targeted response time achleved of emergency maintenance tasks lin days) target of I day % Targeted response time achieved of emergency malntenance tasks lin days) target of 7 days % Targeted response tlme achieved of emergency malntenance tasks lin days) target of 28 days Complolnts.. Total complaints 5.1% +O.IOA 99% 97% loo% loo% loo% OOA 88% 89% 940A +5% 65% 84% 86% 32 21 38 Commentary on KPIS A5 demand for our services contlnues to Increase, we are pleased that we have been able to support more cllents than ever before lup 13Yo on last yearl and wlth It more new cllents lup 16% on last yearl. There has been posltive progress on pathways out of homelessness wlth a reductlon by 18% to 3,7 weel<s for the average lenBth of stay on the streets. Overall numbers rough sleeplng were simllar, wlth a small Increase of 6% over the prevlous 12 months. Safeguardlng roport5 have Increased slgnlflcantly, reflectlng our rlgorous approach through our Social Worker lo refer cases where an a Icrt Is properly j ustifled. Key toour safeguardlng approach Is to follow through any referral and be clear the difference we are seoklng to achieve with a report. The Increase (f rom 7 to 191 Sn the current year can largely be explalned by th55 being the first year that our hlgh support project, Roffoy Place, has operated for thp entlre year and due to the increased complexity of the cllents that we support which include a number of health and soclal care needs. Simllarly, we are also pleased that the actual number of client move-ons out of hlgh support resldential services have again increased thls year from 147 to 158. On the lace of11 planned depBrtures from hlgh support have reduced in the year from 65Yo to 57%. However, last year's figures include the successful one-off planned departure of some thlrty clients 1011owlng the closure of our Lyndhurst Rorid residential project. Taliing this into account, we have managed to malntaln the underlying level of planned departures from high support at around 57% in a client environment of Increaslng complexity. Within the sector we have a strict definltlon of planned departures and most unplanned departure clients are supported into other accommodation, The actual nLI mber of planned depic rtures from low/medium Support, often to Social HousinE, hcls fallen a little from 54 to 49 ir nd thp. pcrcentl¢ ge of planned departures liils fallen from 670A to 62%. Nolwitlistand ing the clip.nt environment ol increasing complexity, we are seeliing to improve these figurps ihrough the appoinlinent of a dedicated Resettlement Ma nager together with the receipt of suff icient Erant funding to financc these moves. Page., 13
I'urnlnB Tldes Homelt¥ssnes% R e p o rts and Flnanclal Statemertts for the Year Ended 31 March 2024 Voluntary staff turnover has returned to the levels of two years aBO, We are seeking to reduce thls by i ntroducing addltional Staff well-belng measures. Health and Safety performance remalns very high, and our malntenance response tlmes are strong at 100% for ernergency tasks, We have a stable and well led Maintenance Team who have capablllty to continue thls Improvement. The 81% Increase In complaints thls year has, a5 expected, coinclded with our Introduction of a new, rnore accesslble, Complaints Procedure for clients and members of the publlc. Feedback can now be provided dlrectly via an online form on our webslte, In additlon,the new procedure Is advertlsed 3¢ross all Turnlng Tides servlces with QR codes that provide clients wlth direct access to the form, An assoclated feedback log enables greater analysls whlch wlll be used both to make servlce Improvements and to communicate wlth all cllents annually via Impact reporting. Future Plans Our core strategy remalns to follow the four ambltlons sel In 2019 (please refer to page 61, The flnanclal health and sccurlty of the Charlty Is a prlorlty. With current levels of fundln8, It Is a major challenge to make ends meet each year. Thls challenge Increases wlth fundlng uncertalnty and the Increaslng need for our services as more people fall Snto homelessnes5. Short term fundlng land lack of Houslng Related Support commlssloned Income, In partlcularl 5s an Issue for us and the wSder homelessness sector, A Board/Management Strategy Day was held In June 2023. Thli provlded a detalled revlew of rlsks and how we can ensure a robust Business Plan whlch malntalns reasonable reserve levels and manage5 fluctuatlng Income and retentionldevelopment of mlsslonal 5ervlces. Pendlng a successf ul outcome to the flnal stage of our Hou51ng Assoclatlon applicatlon, we are grateful to WorthSng Homes for developlng two supported houslng schemes on our behalf, Skywaves Is a 21 studlo-f lat hlgh-support scheme and MUIt-agenCY hub, and ClSfton Roadls a 13 studlo-flat medlum support houslng scheme, Both are due to open In early 2025. We are also explorlng other propertv opportunltles. Our Buslness Development strategy wlll also see1< to ensure servlces are sustalnable and key risks identlfled at the earllest opportunity and mltlgated agalnst. We have worked hard to bring our existlng houslng stock up lo a good standard and meet Decent Homes Standards. We have recelved the results of an independent 30-year stock condltion survey and have updated our asset management plans accordSngly. Supporting and investing in our dedlcated teams wlll also be paramount. In 2023124 we have undertaken an employee engagement survey and are using the feedbac1< to mal<e Smprovemenls. Turning Tidps have a robust approach to complia nce and internal controls which lias this year led to a full roll out of an Sntornal Quality Framework and Quality Review across all Operational Teams, wilh an emphasis on safety, compliance and best practice. Results ol these quality reviews w511 be included within an annual impact report providod to all clients latpr th15year, Pale., 14
Turnlng Tlde5 Homp.lessness R e p o rts and Flnanclal Statoments forthe Yoar Ended 31 March 20Z4 Principal Risks and Uncertainties Turning Tide5 has a formal risk management process to assess business risks and Implement rlsk management strategies, This involve5 identifying the types ol rlsks we may face, priorltising them In terms of potential impact and likelihood of occurrence, and identifying the means of mltlgatlnE each potential r15k, This analysis forms the Risk Map. The Risk Map is revSewed on a regular basls bv relevant members of the Management Team and the Board olTrustees. The Board of Trustees have responslbility for ensuring risks are Identlf led and appropriate mltigations are In place, as requlred by the Rlsk Action Plans. Turnlng Tides recognlse the role of robust KPIS and Organlsational Plan together with the Rlsk Map In mitigating risk, Tho Terms of Reference of the Flnance Committee la subcommlttee of the Board of Trustees) were broadened to a Finance and Audit Commlttee, to Include the detalled review of the Kpls, Organlsatlonal Plan and Risk Map on a quarterly basis. The Charity actlvely revlews Its key rlsks and how these can be mitlgaled, SiBnlfScant rlsks are shown in the table below: Rlsk R15k Actlon Plan Status Loss or reductlon of services e to Instablllty of short term f unding leadlng to poorer client outcomes and staff rotentlon issues. Reduced ability to meet misslon due to Increased system changes and Internal pressures Maintaln investment In resources to seek addltSonal long term commlssloned funding. Plan and communicate effectSve staffing resources. Ensure that system change and leadershlp Inltl<ltlve proposals are thoroughly tested prlor to implementatlon, Provldc on-golng upport post Implementation. HR strategy to focus on recruitment, employeo engagement to Include improved Snductlon and staff wellbeing to include reflectlve practlce, Inabllity to attract and retaln experienced staff due to Snternal and external pressures Reductlon in missional actlvitles due to less publlc glvlng throuEh fundrai5Ing as a consequence of the cost of living crisis Adopt an aglle fundra1sSng and com municatlons strategy. On-going investment in communSty engagement. Page.. 15
TurnlnK Tides Homelessness Re p o rt s and Flnanclal Statements foi the Year Ended 41 March 2024 Financial Review Duri ng 2023124 Financial Year Turning Tides made a small management accounting surplu5 of £107k whlch Is marglnally better than the budgeted surplus of £95k, Carelul management of actlvlty and expenditure continued. This was the first full year of operation of our latest residentlal accommodation at Roffey Place wSth It reachlng Its f ull capaclly of fifty bed spaces, The followlng table shows the reconclliation between statutory accounts and management accountlng flnancial performance. Reconclllatlon 2023 £k 1471 1671 11141 2024 £k 107 1141 93 Management account5 surplus/ldeflcltl'. West Hlll, Ravenscourt Trust and other smaller fund movements Net ststuiory Ideficitl before transfers The Charlty strlves to make efflcSent iJ5e of Its resources and has achleved an average occupancy level Ilncludlng malntenance voldsl of 93.8Yo12023.. 88.3%). Bad debts were 2.7%12023: 1,6%) of rent recelvable agalnst a target of 2.5%. Reserves Pollcy and Golng Concern The Charlty alms to match Income and expendlture year to year whlle malntalnlnE a sultable level of cash reserves, Havlng a Re5crves Policy helps Inform the way in whlch a charity manages Its cash, Ilquid assets and debt, Free Reserves are defined to be cash he Id Sn current, deposlt or flxed term investments that are not already 5peclflcally commltted or deslgnated to a partlcular purpose or expense. Reserves should be conslstent wlth ongolng actlvltle5 and flnanclal commltments such that reductlons In and/or loss of income streams do not have an Immediate adverse Impact on cllents or staff. Thls Is pa rticularly crucial for Turnlng Tides as much of our fundlng from commlssloners and trusts Is short term. Thls can sometlmes produce an envlronment where weare empowered to support people for all too brief a period, and then have to close a prolect. Consequently, we 5trlve for reserves whlch enable us to commit to servSces longer term and brlng lastlng chanEe lo the1Sves of clSents. Cash reserves a150 provlde vltal fundSng whlch allows u5 to 11 respond In an aglle manner to increased need and 21 trial and delSver Interventlon5 wlder system5 have lalled to put In place, The Reserves Policy contrSbutes significantly to the Board's ability to bala nce the needs of current and future clients, to provlde Supporters and stal<oholders with a15u rancos the ChaiSty Is well managed and it has, where appropriate, a stratogy for building up reserves. The Reserve5 Policy a150 assists when planning and explaining our mission to supporters and slakeholders, and how It is vital for us to retain resources, focus and energy. Thi 5 Is because our misslon is not slmplyto maintain the del ivery of ou r current support services we also need to innovate, grow and develop services, systems and Plc rtnerships that can contribute towards the ending of local homelessness, Page.. 16
Turnlrtg Tldps Homelessnp.ss R p. p o rts and Flnanclal Statement5fortheYÈar Ended 31 March Z024 In setting the appropriate level of Reserves the Trustees have considered the following: Forecast cashflow Itaking into account the reliabllity of each source of Income and the commitments associated with each source of expendlturel Risk and Ilkely changes In the ma in sources of Income l expenditure Existing restricted a nd designated reserves along wlth expenditure plans I timescales Future income streams With an assessment of thelr reliabillty Committed expenditure and how far thi5 is controllable The assessment of how to cope with changes In the maln sources of Income Likely effects on the beneficiaries resulting from slBnlf Icant changes to incomelcost New opportunltles not In Bu51ne55 Plan The level of fixed assets, borrowing and loan repayment rlsk. Using the pollcy described above Trustees, in collaboration wlth the Chlef Executive and Head of Flnance, have agreed the followSng thresholds.. Mlnlmum reserves level Sudden Ios5 of fundlng for one project General loss of fu ndlng In one year New opportunities not In 8uslness Plan Total £200k £300k £250k £750k Maxlmum reserves level Double the minimum reserves level (being approxlmately 3 months operatinE Costs) £1,500k If reserves fil11, or are forecast to fall, below the mlnSmum level agreed, the Trustees wlll work wlth the Chlef Executive and 5enlor Management Team to agree plans and drive actlons whlch wlll replenlsh reserves to above that minlmum, Conversely, if reserves rlse above the maxlmum level agreed the Truste05 w51 I work wlth the Chlef Executlve and Senlor Management Team to ensure excess Ss explicitly considered and Included wlthln futu re plans to further the Charity's alms such that, over a defined period, reserves are brought back with in the agreed range, At the yeic r end, total funds were E6,818k12023: £6,725kl, Free reserve5 (cash less restricted and designated rosorves which are u nrelated to Flxed Assets) amounted to £1,174k12023.' £1,041kl which falls comforlably within the agreed range. Ravenscourt restrlcted fund s are being Util ised to fund a specllic revenue eKpense over the lollowin 10-15 years, Restricted funds received from Adur Furniture Network will be utili5ed iflwhen ali Ippropriato opportunity with long term, sustai nable benefit Is identified. Our accou nts also show a designated fund a550ciated with our properly in last Grin5teic d IWe5t Flilll which has been used to help improve the bLiilding and supporl services ollered to clients in the local area. The reinic ining flinds a re liliely to be utilised to ref urbish the propertv. PaEQ.' 17
Turnlng Tldes Homelessness R o p o rt s and Flnanclal Staternentsforthoyeai Ended 31 Mar¢h 20Z4 Structure, Governance and Management Turning Tide5 Is a reglstered Charlty, Turnlng Tldes Is registered as a company limlted by guarantee. Trustee members are also Dlrectors of the Companv. The governing documents ol the Charity are its Memorandum and Articles of Association, The latter was updated In Ilne wlth good practice In 2024, There are currently I l Trustees out of a maxlmum posslble 15, RegardlnE recruitment of Trustees, when a vacancy occurs the Board will take the opportunlty to revlew the skllls matrix of Trustees to Identlfy skill sets that would strengthen the Board's overall effectlvene5s, In addition, considerationls Eiven as to whether there Is a need for any speclflc communlty or stakeholder group that needs to be represented by a new Trustee. The Board and Its Sub-commlttees wlll also conduct regular performance revlews and skllls audlt of trusteeslmembers. In October 2022 It conducted a Board Effecllveness Revlew. Thls found the Board was broadly worklng well but would benef It from more Ilved experlence and dSverse membershlp. Posltions are advertlsed widely, and Trustee recrultment wlll encouraBe a dlverslty In appllcatlons and that Ilved experlence Is valued, Appllca nts undergo a structured Intervlew process. There Is also cllent Involvement in the Sntervlew process. The Board operates an equal opportunltles recrultment pollcv. Induction Information coverlng the role and responslbllltles ol Trustees are provlded to the Trustees and governance updates are provlded as and when approprlale. Trustees are all volunteer5 and recelve no remuneration, Trustees are requlred to disclose all relevant Interests and reglster them wlth the Chlef Executlve and withdraw from any decI51on-maklng process where there Is a confllct of Snterest. The Board of Trustees Is the governlng body of Turnlng Tldes and Is responslble for all Its actlvStles and affair5. The operatlonal runnlng of the Charlty Is delegated to the Chief ExecutSve and the Senlor Management Team. The Boar d meets as a full Board at least 4 times a year, The Charlly benefits from 2 sub committees which havo been established to overview l(ey areas of activity, Each sub-committee has clear terms of reference. The Flnance and Audit Committee meets at least 6 timesa year The Remuneration Committee meets 2-3 times a year. These sub committees report to the main Board at each main Board meeting. The Remuneration Committee is tasl(ed with reviewing the sala ries of the Chief Executive a nd the Senior Management Team. The Committee reviews the relative size of the role5 Ir nd receives information on market compa risons through two comprehensive surveys of local chcirity sector pay. Page.. 18
Turning Tldes Homelessness Re p o rts and Flnanclal State.mentsfor theyear Ended 31 March 2024 Public Benefit Statement Turning Tide's charitable oblects are the relief of poverty through the provision of accommodation and advice to those who find themselves homeless or at risk of homelessness, The servlces are provided across West Sussex. As a Charity wlth a Chrlstlan backEround and ethos Turnlng Tide5 provide services to any adult member of the general public regardless of whether they have a personal falth in any rellgion or denomination, or have none, Turnlng Tides asks for no membership fee5 from indivlduals In order to benef it from assistance. PaRe.' 19
Turnlng Mdes Homelessnpss Re p o rt s and Flnanclal Statements fortheYe8r Ended 31 March 2024 Trustees, Responsibilities Statement The Trustees (who are also the Dlrectors of Turnlng Tldes Homelessness for the purposes of Company Lawl are responsible for preparing the Trustees, Report including the Strateglc report and the financial statements In accordance with appllcable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). Company law requlres the Trustees to prepare flnanclal statements for each flnancial year which give a true and falr vlew of the state of affalrs of the charsiable company and of the Incoming resoLtrces and appllcatlon of resources, Includlng the Income and expenditure, of the charitable company for that period. In preparin8 these f inancial statements, the Trustees are requSred to.. select sultable accountlng policio5 and then apply them consistently,. observe the methods and prlnclples of the Charltle5 SORP IFRS 1021,. make Judgments and accounting estlmates that are reasonable and prudent,, state whether appllcable UK Accountlng Standards IFRS 1021 have been followed, subject to any materlal departure5 dlsclosed and explalned In the financial statements; prepare the f inanclal stiltpments on the golng concern bas15 unless it Is Snappropriate to presume that the charlty wlll continue In buslness, The Trustees are responslble for keeplng proper accounting records which dSsclose with reasonable accuracy at any time the flnancial posltlon of the charitable company and to enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responslble for safeguardlng the assets of the charltable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other irregularities. Dlsclosure of Informatlon to ¢iudStors Each individual Trustee, at the tlmc when thls Trustees, Report Is approved, has confirmed.. so far as the Trustee is aware, there Is no relevant audit i nformation of which the charitable company's audltor5 are unaware, and the Trustee has tal(on all the steps that ought to have been taken as a Trustee to be awore of any relevant audit Information cind to establish that Ilie charitable company's auditors are aware of that informatlon. Approved by order of the members of ihe Bo¢ird of Trustees on and signed on their behalf bv.. lan Mintram Chair Timoihy Cooper ChairofFinance & Audit Committee PaBe'. ?.0
Report of the Independent Audltors to the Members of Turnlng Tldes Homelessness Oplnlon We have audlted the financial statements of Turning Tides Homelessness (the 'charitable company'l for the vear ended 31st March 2024 whlch comprlse the Statement of Financlal Activltles, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, Includlng a summary of 51gnlficant accounting policles. The financ131 reporting framework that has been applled In thelr preparatlon Is applicable law and Unlted Kingdom Accountlng Standards (United Kingdom GeneralIyApted Accountlng PracL1). In our oplnlon the financSal statements: glve a true and fair vlew of the state of the charltable cornpany's affalrs a5 at 31st March 2024 and of Its incoming resources and appllcation of resources, Includlng Its Income and expend5ture, for the year then ended,. have been properly prepared In accordance wlth Unltod Kingdom Generally Accepted Accountlng Practlce,, and have been prepared In accordance wltli the requlrements of thecompanles Act 2006, ljasls for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Audltlng IUKI IISAS IUK)l and appllcable law, Our responslbllltles under those standards are further descrlbed In the Audltors, responslbllltles for the audlt of the flnanclal statements sectlon ol our reporl. We are Independent of the charltable company In accordance wlth the ethlcal requlremenls that are relevant to our audSt of the flnanclal statements In the UK, Includln8 the FRC'5 Ethlcal Standard, and we have fulfllled Our Other ethlcal re5pon51bllStles In accordance wlth these requlrements, We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to provlde a basls for our opinion. Concluslons relatln8 to golng concern In a udltlng the financial statements, we have concluded that the trustees, use of the golng concern basls of accountl ng In the preparatlon of the flnanclal statements 55 approprlate. Based on the work we have performed, we have not Identlfled any materlal uncertalntles relatln8 to event5 or condlllons that, Indlvldually or collecilvely, mey cast slgnlf icant doubt on the Charltable company's abillty to continue as a golng concern for a period of at least twelve montkis from when the financlal statements are authorlsed for Issue, Our responslbllltles and the responsibilitles of the trustees wlth respect to golng concern are descrlbed In the relevant sectlons of thls report, Other Informatlon The trustees are responslble for the other Informatlon. The other Inlorrnatlon comprSses the information Included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon, Our oplnSon on the financial statements doos not cover the other information and, except to the extent otherwise expllcitly stated in our report, we do not express any form of assurance concluslon thereon. In connectlon with our audit of tho flnanclal stdtements, our responslbility is to read the other Information and, in doing so, considor whether the other information is materially inconsistent wlth the financial statements or our knowledge obtained In the audit or otherwlse appears to be materlally misstated. If we identify such material inconsistencies or apparent material mi5slatements, we are required to detemine whethe r thi5 glves rise to a material misstatement in the fSnanclal statements themselves. If, based uri the work we have performed, WL, conclude that there 15 a material misstaleiment of this other information, we are required to report th3t fact, We have nothing to report in thi5 regard. Page21
Report of the Independent Audltors to the Members of Turnlng Tldes Homelessness Opinlons on other matters prescrlbed by the Companles Act 20LIS I n our opinlon, based on the work undertaken in the course of the a udit: the Information glven In the Report of the Trustees for the financlal year for which the financlal statements are prepared Is consistent with the flnanclal statements,. and the Report of the Trustees has been prepared In accordance wllh applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the Ilght of the knowledge and understandln8 of the charltable company and Its environment obtained In the course ol the audit, we have not Identlfled materia5 mlsstatements In the Report of the Trustees, We have nothlng to report in respect of the followlng matters where ihe Companles Act 2006 requlres us to report to you If, in our oplnlon: adequate accountlng records have not been kept or returns adequate for our audlt have not been receSved from branches not vlsited by us. or Lhe flnancSal statements are not In agrecment wlth the accountlng records and returns,. or certaln dlsclosures of trustees, remuneratlon speclfled by law ale not made,. or we have not recelved all the informatlon and explanatlons we iequlre for our audlt. Responslbllltles of trustoes explalned more fully In the Statement of Trustees, Responibllltles, the trustees (who are also the directors of the charitable company for the purposes of company liiw) are responslble for the preparatlon of the flnanclal statements and for belng satlsfled that they glve a true and falr vlew, and for such Internal control as the trusteos determlne Is necessary to enable the preparatlon of financlal statements that are free from material mSsstatement, whether due to fraud or error. In preparlng the flnanclal statements, the trustees are responslblc for assesslng the charltable company's ablllty to contlnue as a golng concern, d15closlng, as appllcable, matters related to golng concern and uslng the golng concern basls of accountln8 unless the trustees elther Intend to Ilquldate the charltable company or to cease operatlons, or have no reallstlc alternative but to do so. Our responslbllltles for the audlt of the flnanclal statements Our objectives are to obtaln reasonable assurance about whether the flnanclal statements as 3 whole are free from materlal mlsstatement, whether due to fraud or error, Ind tolssue a Report of the Independent Audltors that Includes our opinlon. Reasonable assurance Is a high level of assurance, but Is not a guarantee that an audit conducted In accordance wlth ISAS IUKI will always detect a materlal m155tatement when It exists. Mlsstatements can arlse from fraud or error and are considered material If, Indlvldually or In the aggregate, thoy could reasonably be expected to Influence the economic declslons of user5 taken on the basls of these financlal statements, The extent to which our procedures are capable of detectlng irregulailtles, includlng fraud Is detalled below: enqulry of managemont, those charged with governance and the entity's solicitor5 around actual and potential litigation and claSms,' enquiry of entity's staff to Identify any instances of non.compliance with law5 a nd regulations,. revlewing mlnutes of meetings of those charged with governance; reviewing f inancial statoment disclosures and testinry to supporting documentation to assess compliance with applicable laws and regulations. and auditing the risk of management override of controls including through testi ng journal entries and other adjustments for appropriateness, and evaluating the buiiness rationale of significant transactions out51de the normal course of busines5.
Report of the Independent Auditors to the Members OF TurnlnK Tides Homelessness A further description of our responslbllltles for the audit of thc financlal statements is located on the Financia l Reporting Council's website at www.frc,orE.uk/auditorsrespoThslbll Ities, This description form5 part ofour Report of the Independent Auditors, Use of our report Thls rep Jrt is made solely to the charitable compa ny's members, a5 a body, In actordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken $0 that we might state to tlle charltable company's members those matter5 we are requlred to Stale to them I n an audltors, report and for no other purpose. I'o the fullest extent permltted by law, we do not accept or assume responslblllty to anyone other than the charitable company and the charltable company'5 members as 3 bodyi for our a udit work, for thls report, or for the opinlons we have formed. Paul Wri ht FCA DChA (Senlor Statutory Auditor) for and on behalfof Sheen 5tickland Chartered Accountants Statutory Audltors 7 East Pallant ChSchester West Sussex P019 ITR Date..
Turnln8 Tldes Homelessness Statement of Flnantlal Actlvltles for the Year Ended 31st March 2024 2024 Total fund5 2023 Total funds Unre5trlcted Restrlcted funds funds Notes INCOME AND ENDOWMENTS fROM Donatlons and legacle5 487,721 487,721 556,365 Charltable actlvltles Byron, Manor, Lyndhurst and Roffev Recovery Servlces Move on Houslng Homelessness Servlces Central Fundraislng events Donated Goods & Voluntecrlng 2,276,377 1,021,990 1,619,729 1,442,165 3,900 107,260 6,970 2,276,377 1,021,990 1,619,729 1,585,687 3,900 107,260 6,970 1,394,864 915,481 1,447,245 1,521,854 6,723 122,512 143,522 Investment Income 15,553 3,495 Total 6,981,665 143,522 7,125,187 5,968,539 EXPENOITURE ON Charltable actlvltles Byron, Manor, Lyndhurst and Roffey Recovery Service5 Move on Houslng Homelessness Servlces Ccntral Fundralslng event5 Donated Goods & Volunteering 2,459,945 967,288 915,885 1,371,226 848,432 185,620 126,123 2,459,945 981,584 915,885 1,514,748 848,432 185,620 126,123 1,463,684 744,945 1,036,464 1,350,105 1,036,243 262,369 189,096 14,296 143,522 Total 6,874,519 157,818 7,032,337 6,082,906 NET INCOME/IEXPENDITURE) Transfers between funds 107,146 114,2961 18 1,155,000 11,155,000) 92,850 1114,3671 Net movement In funds 1,262,146 11,169,2961 92,850 1114,3671 RfcoNCILIATION OF FUNDS Total f unds brought forward 5,342,141 1,382,781 6,724,922. 6,839,289 "IOTAL FUNDS CARRIED FORWARO 5,604,287 ?13,485 6,817,772 6,724,922 Page 24
Turnlng Tldes Homelessness Balance Sheet 31st Marcli 2024 2024 Total funds 2023 Total funds Unrestrlcted Restricted fund5 f unds Notes FIXED ASSETS Tanglble assets 11 5,214,074 5,214,074 5,441,520 CURRENT ASSETS Debtors Investments Cash at bank and In hand 12 13 733,982 128 1,203,085 733,982 128 1,416,570 596,890 128 1,297,547 213,485 1,937,195 213,485 2,150,680 1,894,565 CREDITORS Amounts fallinE due within one year 14 1491,7831 1491,7831 1469,5551 NET CURRENT ASSETS 1,445,412 213,485 1,658,897 1,425,010 TOTAL ASSETS LESS CURRENT LIABILITIES 6,6Jf9,486 213,485 6,872,971 6,866,530 CREDITORS Amounts lalllng due after more than one year 15 155,1991 155,1991 1141,6081 NET ASSETS 6,604,287 ?13,485 6,817,772 6,724,922 FUNDS Unrestrlcted funds Restricted funds 18 6,604,287 213,485 5,342,141 1,382,781 TOTAL FUNDS 6,817,772 6,724,922 The financial statements were approved by the Board of Trustees and authorised for issue on and wero signed on its bchalf by,. i /ii.[ l<in Minlram Trustee Tiniothy Cooper - l-rusle
Turn5n8 Tldes Homelessness Cash Flow Statement for the Year Ended 31st Marcli 2024 2024 2023 Notes Cash flows from operatlng actlvitles Cash generated from operation5 182,877 1128,3381 Net cash provlded by/lused Inl operatlng actlvltles 182,877 1128,3381 Cash flows from Investlng actlvltles Purchase of tangible f ixed assets Interest recelved 156,6871 15,553 1430,2461 3,495 Net cash used In investlng actlvStSes 141,1341 1426,7511 Cash flows from f Inanclng actlvltSes Loa n repayments In year 122,7201 122,5451 Net cash used in f Ina nclng activities 122,7201 {22,5451 Change In cash and cash equlvalents In tho reportlng perlod Cash and cash equlvalents at the beglnnlng of the reportl n8 perlod 119,023 1577,6341 1,297,547 1,875,181 Cash and cash eyulvalents at the end of tl)e reportlng perlod 1,416,570 1,297,547
Turnlng Tides Horiielessness Notes to the Cash Flow Statement for the Year Ended 31st March 2024 RECONClI.IATION OF NET INCOME/(EXPENOITUREI TO NET CASH, ACTIVITIES LOW FROM OPERATING 2024 2023 Net Income/lexpendlture) for the reportlng perlod las per tlie Statenient of Flnanclal lictlv5tles) Adjustments for; Depreciation charges Interest recelved Increase Sn debtors Decrease In credltors 92,850 1114,3671 284,133 167,236 115,5531 13,4951 1137,0921 1170,5321 141,4611 17,1801 Net ¢ash provlded byllused Inl operatlons 182,877 1128,3381 ANALYSIS OF CHANGES IN NET FUNDS At 1.4,23 Cash f low At 31,3,24 Net cash Cash at bank and in hand 1,297,547 119,023 1,416,570 1,297,547 119,023 1,416,570 Llquld resources Deposits included In cash CLirrent asset investme nts 128 128 128 Debt Debts falling due within i year Debts falling duo after I yeir 123,9131 147,3081 11,2071 23,927 125,1201 123,3811 171,2211 22,720 148,501 Total 1,226,454 141,743 1,368,197
Turnlng Tldes Homeles5ne55 Notes lo the Flnanclal Statements foi the Year Ended 31st M)rch ?024 GENERAL INFORMATION The company Is 3 private company, lirvlted by guarantee, incorporated In England and Wales wlthln the Llnlted Kingdom, In the event of the company being wound up, the15ablllty Is respect of guarantee Is Ilmlled to £10 per member of the company, ACCOUNTING POLICIES Basls of preparlnB the flnanclal statements The flnancial statLimonts of the charSiable Companyi whlch Is a public benefll entity under FRS 102, have been prepared In accordance wlth thc Charltles SORP IFRS 1021 'Accountlng and Reporting by Cha¥itles.' Statement of Recommended Practice applicable to charltles preparlng their accounts In accordance wlth the Flnjncial Rt'portlnB Standard applicable In the UK and Republlc of Ireland IIRS 1021 lellecllve l Janvary 20191,, Flnanclal Reportlng Stand(iid 102 'The Financlal Reportln6 Standard applltable In the UK and Republlc of Ireland, and the Companles Aci 2006. The flnanclal slatenient5 have been prepared under the hlstorlcal cost ¢onventlon, CrSllcal accountlng ludgoments and key sources of estlmatlon uncortalnty Esllmates and judgements 1( r& continually evaluated and are based on h15torlcal experlence and other factors, Includin8 expeclatior15 of future events that arp belleved to be reasonable under the clrcumsiances, CrStlcal accounllng estlmales and assumptlons., Depreclatlon and useful economic Ilfc of propertles - thls requlres an estlmatlon ol the useful economlc Ilves of prvperlles Iwhlch are based on surveyors, reports when avallablpl and an estimate of laid apporlioninent al each sile. The chiirliy makes estlmate5 <ind assumptlons CDncernlnB the future. The resultlng ac¢ountln8 estlmates will, by deflnllloii, seldom equal the related ciclual results, Income All Income Is recognlsed in the 5tcltoment of FinancSal Actlvltles once the charlty has entltlement tu the funds, It Is probable that the Income will be recelved (ind the amount can be measured rellably. The reco8nitSon of Income from legacles Is dependent on eslablishln8 entltlcment, the prob<ibllily ol recelpi and the abS1ity to estlmate with sufficlent accuracy the amDunl receivable. Evldence of enilllemenl lo a legacv L'X15ts wlien tlie charlly has sufflclent evldcnce tl)at a glft ha5 been left to them Ithrovgh knowledge of the exlstence of a Vdlid wlll and the death of the benelactorl and the executor Is satlslled that the properly In questlon wlll not be rp.quired tL) satlsfy clalms In the estate. Recolpl of a legacy mu51 bo recognised when Itls probable that it will be received and the falr value of the amoiinl receivable, whlch wlll generJlly be the expected cash amount to be distrlbuled to the ch(Irlty, can be reliably measured, Grants are Included In the Statement Of Flnanclal Actlvltles on a receivable basks. The balance ol Income reccived lor speclfic purposps but not expended during the perlod Is shown In the relevant funds on Ihe Bala nce Shoel. Where income is receivlid In advance ol entiilernenl ol receipt, 115 recognition is delerrod and included in creditors as dL,ferred income. Where entitlemènt occurs before income is received, Ihp. income is ccyued. Gills In kind (ire included al valuation and rocugnised as incomi. when they are d55tribuled lo the projects. Gi115 donated lor resale 3rE Iiicluded a 5 Income when they aro sold. Income tax recovp.riiblp. is relation to dori(Itions received under Gill Aid or deed5 of covenonl 15 recuEni5ed at the time oltho don21ion,
Turnlng Tldos Homelessness Notes to Ihe Flnanclal Statements - contlnued forthe Year Ended Slst March 2024 ACCOUNTING POLICIES- tontlnued Expendlture Llabllltle5 are reco8nlsed as expendlture as soon as there Is a legal or constructe obligatlon commlttlng the charity to that expendlture, It Is probable that a transfer of econornlc benelSt5 wlll be required In settlement and the amount of the obligation can be measured rellably, ExpendllLire Is fj¢counted for on an accruals basls and has been elasslfled Ltnder headlngs that a88regate all cost related to the category. Where costs cannot be diyectly attrlbuted to particular headlngs they have been allotaled to a¢tlvltles on a bas15 conslstent wlth the use of resources. Dlrect Costs attrlbulable to a slngle actlvlly are allocated dlrectly lo that actlvlty. Shared costs which contrlbute to more than on@ activlty and support costs whlch are not atirlbulable Lo a slngle actfvlty are apportloned between those actlvltles on a basls Conslstent wlth the use of resources. Central staff cost5 are allocated on the basls of dSrect staff cost at each project, Fundralslng costs are those Incurred In seeklng voluntary contrlbutlons and do not Include the costs of dlssemlnatln8 Informatlon In support of the charltable actlvltles. Support costs are those costs Incurred dlrectly n support of expendlture orb the oblects of tho company and Include project management carrled out at Headquarters. Costs of Beneratlng funds are costs Incurred in attractlng voluntary Income, and those Incurred In tradlng actlvitles that ralse funds. Governance costs are those Incurred In Connectlon wlth admlnlstrallon of the company and compllance wlth constStutlonal and statutOTy requlrements. Expendlture on charltable acllvlties Is Incurred on dlrectly underlaklng the aclivilie5 whlch further the charlty's oblectlves, a5 well as any assoclated support costs. All expendlturo 55 Incluslve of Irrecoverable VAT. Interest reeelvoble Interest on funds held on deposit Is Included when reeelvable and the arnounl can be measuied TelSably by the charltv,, thls is normally upon notlflcatlon of the Interest paid or payable by the Institutlon wlth whorn the funds are deposltecl, TangSble tlxed assets The charlty only capltalises major capital expendlture relatlng to the con5trLi*tlon or extenslve refurblshmenl of property and the purchase of vehlcles. A revlew for impalrment of a fixed asset is carrled out 11 events or change5 in clrcumstances indlcate that tli carrylng value of èny fixed a55et may not be recoverable. Shortl)Ils between the carrying value ol flxed assets and thelr ruicoverable amounts aro recognlsed as impairments. Impairment 1055es are reco8nised In the St(Itement of Flnancial Activllles. Tanglble flxed a55et5 are carried at cost, nel of depreciatlon and any provision for Impalrmenl. DepreciatlDn is provided al rates calcul(]ted to writii off the cost of fixed assets, less their estimated residual value, over their expected useful lives. Dopreclation 55 provided on the followlng bases,. Freehold property Frcehold land Option to Buy lfflotor vehicle5 Building Improvements to leasehold propertles 2Yo Stralght li not depreciated 2.5Yo Straight line 25% stTaight line the shorter olthe duration of the lease or 33.3Y, stralght line
Turnlng Tides Homelessness Notes to the Fln3nclal Statements - ¢onllnuod fvr the Year Ended 31st March 2024 ACCOUNTING POLICIES- contlnued Taxatlon The charlty15 exempt from corporatlon tax on Its charltable actIties. Fund accountln8 Unrestrlcted funrjs can be used In accordance wlth the charltable oblectlves at the dlscretlon of the trustees, Deslgnated funds comprlse unrestricted funds that have been sel aslde by the trustees for partlcular purposes. Re5trlcted funds can only be used for partlcular restricted purposes wllhln the objects of the charity, Restrlctlons arise when specified by the donor or when funds are ralsod for partlcular restricted purposes, Further explanatlon of the nature and purpose of each fund Is Included In the notes to the finandal statements. Penslon tosts and other post-retliement beneflts The charltable company operates a deflned contrlbutlon penslon scheme. Contrlbuilons payable to the charllable company's penslon scheme are charged to the Statemenl of Flnanclal Actlvltles In the peilod to whlch they relate, Iiivestments Asset Investments arc a form ol flnanclal InslrLJment and are Inlllally recognlsed at thelr transactlon tosr and subsequently measured at falr value at tho Balance Sheet date, unless the value cannot be measured rellably In wl)Ich case It 15 measured at cost less Impalrment. Invesimeni galns and lossos, whether reallsed or unrea115ed, are comblned and presented as 'Galns/lLossesl on Investments, In the Statement ol Flnanclal Actlvltles, Debtors Trade and other debtors ar4> recognlsed at the Settlement amount after any trade dlscounl offered, Prepayments are valued at the amount prepald net ol any trade dls¢ounts due, Cash bank and In hand Cash at bank and In hand Includes cash and short.term hlghly Ilquid Investments wlth a short malurliy of three months or less from the date of acqu151tlon or openlnB of the deposlt or slmllar account, Llabllltles and provlslons Llablllties are recoBn15ed when there Is an obllEatlon at the Balance Sheet date as a result of a past event, It15 probable that a transfer of econotnlc beneflt wlll be requlred In settlement, and the amount ol the settlen)ent can be esilmated rellably. Llabllllies are recognI5ed at the amount that the charlty antlclpales It wlll pay to settle the debt of the amount it h35 received as advanced payments for the goods or Services It musi provlde. Provisions are measured at the bost estimate of the amounts requlred to settle the obll8atlon. Wh@re the eflecl of the tlme value of monoy Is material, the provision is based on the present value ol those amounts, discounted at the pre-tax discount rate that reflects the r15k speofic lo the1Sabilily. The unwlnding discount is rLico¥nised In Ihe Statement of Financlal Actlvitios as a flnance cost. Flnanclal Instruments Tlie charily only has financial assets and financlal liabilities of a kind that qualify a5 basic finr]llci<il inslrurnents. Baslc financial instrumpnls are initially recognised at tran5actioft value and Subsequently measured al Ihelr settlement value with the exception of bank loans whlch are subsequently rneosured at amortised cost using the effective interest method.
Turnlng Tides Homelessness Noles to the Flnanclal Statements- contlnued lor the Year Ended 31st March 2D24 DONATIONS AND LEGACIES 2024 2023 Donatlon5 Legacles Grants 484,723 2,998 4?2,692 126,253 7,420 487 721 556,365 Grants recelved, Included In the abovo, are as follows,, 2024 2023 Government grant5 7,420 INVESTMENT INCOME 2024 2023 Oeposll account Interest 15,553 3,495 INCOME FROM CHARITABLE ACTIVITIES yTOn, Manor, Lyndhurst and Roffev Recoverv Servlce5 Move on Houslng Homelessness Services Houslng Benellt Houslng Support Serv5cÈs Servlce Charge Grants Fundraising Events Charltable Trusts Other Income 1,909,307 235,932 114,204 11,189 615,942 350,998 46,300 11,5001 1,411,018 7,701 129,327 70,701 1,471,082 5,745 JO,250 8,683 103,534 3,370 2,276,377 1,021,990 1,619,729 1,585,687 Donated Goods & Volunteering 2024 Total actlvltle5 2023 Total Fundraisln¥ events Central HousinR Benefit Housing Suppori Services Servlce Charge Gront£ Fundraising Evp.nts Charitable Trusts Other income 3,936,267 594,631 289,831 1,562,342 107,260 128,212 3,370 2,795,032 581,930 191,507 1,600,347 122,512 117,351 3,900 G,970 107,260 3,900 107,260 6,970 6.621,913 5,408,679
Turnlng Tldes Homelessness Notes to the Flnanclal Statement5- contlnuÉd for the Yea¥ Ended 31st March 2024 CHARITABLE ACTIVITIES COSTS suort 0Sts (see note 71 Dlrect Costs 2024 Totals 2023 Totals Byron, Manor and Lyndhurst and Roffey Recovery Servlces Move on Housing Homelessness Servlces Central Donatlons, Logacles and Fundralslng Events Donated Goods & Volunteerlng 2,378,963 940,124 860,271 1,420,061 840,720 164,491 114,691 80,982 41,460 55,614 94,687 7,712 21,129 11,432 2,459,945 981,584 915,885 1,514,748 848,432 185,620 126,123 1,463,684 744,945 1,036,464 1,350,105 1,036,243 262,369 189,096 6,719,321 313 016 7,032,337 6,082,906 SUPPORT COSTS Governance Costs 2024 2023 cost$ Management costs Byron, Manor, Lyndhurst and Roffey Recovery Servlces Move on HousSng Homelessness Scrvlces Central Fundralslng events Donated Goods & Volunteerlng 60,952 30,411 32,614 72,900 7,712 13,522 8,808 20,030 11,019 23,000 21,787 80,982 41,460 55,614 94,687 7,712 21,126 11,432 62,177 26,428 36,415 59,860 7,073 14,287 7,105 7,607 2,624 2?.6,919 86,097 313,016 213,355 Included In governcince costs Is audltor's remuneratlon of £12,0(KI12023'. £12,000).
Turnln8 Tldes Homelessness Notes to the Flnanclal Statements- continued forthe Year Ended 31st March 2024 NET INCOMEIIEXPENDrruRE) Net incomellexpenditurel Is stated after char8lng/lcredltlnBI: 2024 2023 Depreclatlon owned asset5 284,133 167,236 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' rèmuneration or other beneflts for the year ended 31st March 2024 nor for the year ended 31st March 2023. Trustees, expenses Therè were no trustees, expenses pald for the year ended 31st March 2024 nor for the year ended 31st March 2023. io, STAFF COSTS 2024 2023 Wages ènd salarles Soclal securliy costs other pen51on costs 4,015,661 353,006 89,824 3,630,327 331,277 81,439 4,458,491 4,043,043 The average monthly number ol employees durln8 the year was as follows: 2024 166 2023 157 Total The number of employees whose tmployoe benefits leKcludln8 employer pension e05151 exceeded £60,000 wa5., 2024 2023 £60,001- £70,000 £70,001 - £80,000 Remuneration and benefits recolved by key managem@nt personnel Jmounted to £123,2fJ£1202 3,. £127,567),
Turnlng Tldes Homelessness Notes to the FlnancSal Statements- contlnued for the Year Ended 31st March 2024 TANGIBLE FIXED ASSETS Improvements to property Freehold propertv Motor vehldes Land Totals COST At 1st Aprfl 2023 Addltlons 5,318,347 977,124 381.308 56,687 147,351 6,824,130 56,687 At 315t March 2024 5,318,347 977,124 437,995 147,351 6,880,817 DEPRECIATION At 1st Aprll 2023 CharEe for year 1,269,844 104,814 78,266 28,986 1,382,610 284,133 150,333 At 31st March 2024 1,374,658 184,833 107,252 1,666,743 NET BOOK VALUE At 3151 March 2024 3,943,689 977 124 253,162 40,099 5,214,074 At 3 Isl March 2023 4,048,503 977,124 346,808 69,085 5,441,520 Ineluded In Cost or valuailon of land and bulldlngs Is freehold land of £977,12412023 - £977,124) whlch is not depreclated. The propertles at West Hill Grlnstead, belng numbers 20, 22 and 24 are held at valuallon at the dale that the propertles were transferred to the charlty. 12. DEBTORS 2024 2023 Amoun15 lalllng due wlthln one year., Trade debtors Other debtors Prepayments and accrued Income 404,428 10,971 129,333 279,426 13,702 109,512 544,732 402,640 Amounts falllng due after more th£%n one year: other deblors 189,250 194,250 Aggregate amounts 733,982 596,890 The lÈase premium hold on Bur8Qss Hill was surrlbndered and reaCOd with a management agreement givin the charlty tho Tight to manage the properly lor 3 period of up Ici 40 years lor a maximurn DI £210,000. This will be amorlised within the statement ol financial activities across the 40 year period.
Turnlng Tldes Homelessness Notes to the Flnandal Statements. contlnued for ihe Year Ended 31st March 2024 13. CURRENT ASSET INVESTMENTS 2024 2023 Llsted Investments 128 128 The market value of listed Investinents at 31 March 2024 was E12812023.. £1281, 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts Isee note 161 Trade credltors Other credltors Accruals and deferred income 25,120 108,208 18,982 339,473 23,913 73,221 21,129 351,292 491,783 469,555 Deferred Income arlses from grants retelved Sn the flnanclal year that also relate lo subsequent financlal years. At 31 March 2024 total deferred income was £215,36012023', £115,349), 15. CREDITORS: AMOUNTS FALLING OUE AFTER MORE TFIAN ONE YEAR 2024 2023 8ank loans Isee note 161 Accruals and deferred Income 23,381 31,818 47,308 94,300 55,199 141,608 16. LOANS An analy515 of the maturlty of loans Is given below,. 2024 2023 Amounts falling due withln one year on demand., Bank loans 25,120 23,913 Amount5 falllng due between two and five years,, Bank loans . 2-5 years 23,381 47,308 The bank loan is a commercial mortgaRe. I'he commerci31 mortgagp is secured by way of a fixed leEal charge (lated 2?. September 2006 over the freehold property known as 14.16 Selden Road, Worthin& West Sussex, BIIII 2LL. Tho bank loam is repayable over a 20 year term at an Snierest rale ol 1.25Yo above base rate.
Turiilng Tldes Homelessness Notes to the Flnan¢lal Statoments - contlnued for tlie Year Ended 31st March 2024 17. LEASING AGREEMENTS Mlnlmum lease payment5 under non-cancellable operatlnR ledse5 fall due as follows.. 2024 2023 Wlthln one year Between one and five years 174,981 136,637 127,4511 183,943 311,618 311,401 18, MOVEMENT IN FUNDS Nel movement In fund5 Transfers between funds At 31.3,24 Al 1.4.23 Unrestrlcted funds General fund Deslgnated fund West Hlll, East Grlnstead DesS8nated fund PRS and Personallsailon 8udBet 5,313,171 107, 146 1,155,000 6,575,317 21,524 21,524 7,446 7,446 5,342,141 107,146 1, 155,000 6,604,287 Restrlcted funds WSCC PHE CapStal Fundlng Scheme Adur Fu rnllure Nelwork Ravenscourt 1,155,000 154,387 73,394 11,155,000) 154,387 59,098 114,2961 1,382,781 114,2961 11,155,OODI 213,485 TOTAL FUNDS 6,724,922 92,850 6,817,772 Nel movement In ILind5, Included In the above are as follows; Incomlng resoL¢rces Resources expended Movempnl In funds Unreslrlcled funds General funcj 6,981,665 16,874,519) 107,146 Restrlcted funds The Big Lottery fundlng Ravenscourt 143,522 1143,5221 114,2961 114,2961 143,52.?. 1157,8181 114,2961 IOTAL FUI,IDS 7,125,187 17,032, 3371 92,850
Turnlng Tides Homelessness Notes to the Flnanclal Statements. contlnued forthe Year Ended 31st March 2024 18. MOVEMENT IN FUNDS. contlnued Comparatlves for movement In funds Net movement In funds Transfers between funds At 31.3,23 At 1.4.22 Unrestrlcted funds General fund Deslgnated fund - West Hlll, Fast Grlnstead Deslgnated fund PRS and Personallsatlon Budget 5,363,184 150,9131 900 5,313,171 56,140 {34,6161 21,524 7,446 7,446 5,426,770 185,529} 900 5,342,141 Re$trlcted funds WSCC PHE Capltal FundSng Scheme Adur Furnlture NetWOTk Dr Cheit?rs Charlty Raven5court 1,155,OCH) 154,387 900 102,232 1,155,000 154,387 19001 {28 8381 73,394 1,412,519 28,8381 19CQI 1,382,781 TOTAL FUNDS 6,839,289 1114,3671 6,724,922 Comparative net movement In funds, Included In the above are a5 follows,, In¢omln8 resources Resources expended Movement In funds Unrestrlcted funds General fund Designated fund - West Hlll, East Grlnstead 5,750,831 15,801,744) 150,9131 134,6161 34,6161 5,750,831 15,836,360) 185,5291 Restrlcted funds The BIE Lottery funding Ravenscourt Natlonwlde Communlty Grants 167,708 1167,7081 128,8381 150,0001 128,8381 50,OCK) 217,70 1246,J461 128,8381 TOTAL FUNDS 5,968,53Y 16,082,906) 1114,3671
Turnlng Tldes Homelessness Notes to the Fli)anclal Statements- contlnued lor the Year Ended 31st March 2024 18. MOVEMENT IN FUNDS- Contlnued A Current year 12 months and prlor year 12 months comblned p051tion Is a5 fdloWS'. Nct movement In funds Transfers between funds ht 31.3.24 At 1.4,22 Unrestrlctod funds General fund Deslgnated fund West Hill, East Grlnstead Desl8nated fund PRS and Personallsatlon Budget 5,363, 184 56,233 1,155,900 6,575,317 56,140 134,6161 21,524 7,446 7,446 5,426,770 21,617 1,155,9CQ 6,604,287 Restrlcted funds WSCC PHE Capltal Fundlng Scheme Adur Furnlture Network Dr Chesters Charity Ravenscourt 1,155,000 154,387 11,155,000) 154,387 19001 102,232 43, 1341 59,098 1,412,519 43,1341 1,155,9001 213,48S TOTAL FUNDS 6,839 289 (21,5171 6,817,772 A current year 12 months and prlor year 12 months comblned nel rnovemenl In funds, Included In the above are as follows; Incornlng resources Resources expended Movement In funds Unrestrlcted funds General fund De51gnated fund West Hlll, East Grlnstead 12,732,496 112,67G,263} 56,233 134,6161 134,6161 12,732,496 112,710,879) 21,617 Restrlrted funds The Blg Lottery fundin8 Rl¢ venscourt Nationwide Communlty Grants 311,230 1311,2301 143,1341 150,0001 143,1341 50,000 361,230 1404,3641 143,1341 TOTAL FUNDS 11,093,726 113, 115,2431 121,5171 DesiEnated Funds West Hill F"ollowing the acqui51tion ol the Richard Houslng Association the Charity ha5 decided to deslgnale tho value of Cash held and the investments at the dale of Iransler, together with an amounl equal 10 the Social Houslng Grant, for the use in relation io West Hill, East Grin5tead.
Turnlng Tldes Homelessness Notes to the Flnantlal Statements - contlnued for the Year Ended 31st March 2024 18. MOVEMENT IN FUNDS- ¢ontlnued PRS and Personalisatlon Budget Fundlng relatlng to Private Rented Sector and Personlisatlon retalned for the conilnuatlon of our work In these areas. Restrlcted ftsnds WSCC PHE Capital FundlnB Scheme The Trustees have reviewed the terms of the grant fundlng prOded by Wesl Sussex County Councll and have agreed that these lunds are not rcstrictcd and the balancc held has been transferred to unreslrlcted Teserves. The Bl8 Lottery fund Fundln6 has been recelved for the Reachln8 Communltles programme at St Clare's Communlly Hub and for the Lltllehamplon Community Hub, Adur Furnlture Network The Adur Furnlture Network Fund shall be used by the charlty to supp)rt low Income Adur resldents to.sustaln thelr Independence and ensure sultable housing, Dr Chester's Charlty The Trustees shall apply the Income of the charlty In relievln8 elther Benerally or Indlvldually persons resldenl In Borough of WorthlnB who are In condltlons of need, hardship or dlstress by maklng grants of money OT provldln8 or payln6 for Items, servSces or faclllties calculated to iedvce the need, hardshlp or d15tre55 01 such persons, Ravenscuuri To enable group worklng wlthln Ihe Worthlng Recovery Project through the refurblshmenl of a group worklng space and the employment of a dedlcated Group Worker. Nallonwlde Communlty 8r3nts A Brant recelved to fund the development of a trauma Informed accommodalbn service al Rolfey Place, 19, CONTINGENT LIABILITIES In the event of the di5pos&I of the property al West Hlll, East Grlnstead, Ihere may be a requirement to repay tlie volue ol the Soclal Housln8 Grant, being [186,000, whlch was awarded lo the charity on purchase ol the propertv, West Sussex County Council provlded fLindlng under Its PHE Capllal lundlng Scheme to asslst wlth the purchase of certain properties. Under the terms of the grant 3gr*monts there is a potentlal liabillly lo repay ea¢h of the grants if the properties are dlspose.d of within ten years ol the grant belng provided. The final ten year period comes to an end on 26 April 2027. 20. RELATED PARTY DISCLOSURES There werp no related parry transactions for the year ended 31st March 202,4.