REGISTERED IN ENGLAND COMPANY NO 02854784 THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND FANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED CHARITY NO 1037276
THE PURFLEET TRUST RESETILEMENT PROJECT (KtNG'S LYNN) LIMITED Tru$t¢es Ntr B Colson Mrs S P Dossetor Mr R Johnson Mrs V R Ling Miss V E L Newton Mr A Taylor Resigned 31 March 2024 Appointed 7 February 2023 Appointed 7 February 2023 Charity number 1037276 Company number 02854784 Prineipal 8ddr¢ss Pathway House Austin Fields Industrial Estate Kings Lynn Norfolk PE30 IPH Registered offJ¢e Pathway House Austin Fields Industrial Estate Kings Lynn Norfolk PE30 IPH Accountants Clenshaw Minns Chartered Accountants King's Lynn Innovation Centre I Innovation Drive Kings Lynn PE30 5BY Bankers TSB Bank PIC l Tuesday Market Place Kings Lynn Norfolk PE30 IJU
THE PURFLEET TRUST RESETfLEMENT PROJECT (KING'S LYNN) LIMITED Page Trustees, report Statement of Tntee8, responsibilities Indcpendent Examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-12 Detailed trading profit and loss account 13- 15
THE PURFLEET TRUST RESErrLEMENT PROJECT IKING'S LYNN) LIMITED TRUSTEES, REPORT FOR THE YEIIR ENDED 31 DECEMBER 2023 The trteeS present their annual report and accounts for the year cnded 3 l De¢emb¢r 2023. The financial statements comply with the Charitie5 Art 2011, the Companies A¢t 2006, the Memorandum & Arti¢les of Associatio and the Ststement of Recommended Practice- Accounting and Reporting by Charities (SORP 2019). Objects of the ehArity The company is a registered charity and its objects are providing rclicf for homeless people. The organisation provides a range of community support services desIed to meet the individual needs of each peTSOn. Review of activities The company's principal activity is providing relief for homeless people. Trustee$ The directors of the charitable company (the Charity) are its trustees for the purpose of charity law and throughout the report are collectively referred to as the trustees. The trustees who served during the period are as follows: Mr B Colson Mrs S P Dossetor Mr R Johnson Mrs V R Ling Miss V E L Newton Mr A Taylor None of the trustees h&8 any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Going Colleern The Trstee$ have carefully considered all available inforniation on the fman¢es and operations of the company for 12 months from the time of approving these financial ststenients. In particular they have had regard to infomiation from budgets and forecasts for income, expenditure and cash-flow, including the availability of unrestricted fid5 and reserves, credit facilities and any other fornis of financial assistance. Taxation status The company is a charity and qualified for relief from COLporation tax undet Taxes Act 1988, section 505. Consequently no tax liability arises. Review of financial position The company's financial activities are set out on pag¢% 5 to 12.
THE PURFLEET TRUST RESETfLEMENT PROJECT (KING'S LYNNI LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Reserve Fund Strategy The TrteeS have reviewed the reserves of the charity. This reiiew encompassed the nature of the income and expenditure streams, the need to match variable income with fixed ommitments and the nature of the reserves. The Trustees concluded that the charity h&$ sufficient resources and firture income streams to ¢ov¢r its ongoing commitment for the foreseeable future. The Trustees have also reviewed the reserves in line with the Company's commitments in the event of the Company having to cease trading and aim to maintain minimum wh reserves of at least 3 months ovetheads. The charity h&8 unrestricted funds of £41,770 to cany fonvard for general use at the year end. Public Benefit Statement In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefit at our trustee meetings. On bebalf of the Board Mr R Johnson- Chairnian Date
THE PURFLEET TRUST RESETfLEMENT PROJECT (KING'S LYNN) LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Law applicable to charitable companies requires the trustees to prepare financial statements for each fmancial period which giv¢ a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best prnctice and: sclect suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent" prepare the finan¢ial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable acCurY the financial position of the charity ond which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements Comply with Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking r¢&8onable steps for the prevention and detection of fraud and other irregularities.
THE PURFLEET TRUST RESELEMENT PROJECT (KING'S LYNN) LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PURFLEET TRUST RESETfLEMENT PROJECT (KtNG'S LYNN) LIMITED I report on the accounts of the charitable company for the year ended i I tkc¢mber 202), which are set out on pages 5 to 12. Respeclive responsibilifies oftrustees andexamIpr The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 114 of the Charities Act 2011 (the Charities Act} and that an independent examin&ion is needed. It is my responsibility to- examine the accounts under section 145 of the Charities Act; to follow. the procedures laid down in the General Directions given by the Chartty Commissioners (under section 145(5)(b) of the Charities ACL and to state whether particular matters have come to my attention. BL1$ ofindependeni examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evldence that would be required in an audit and consequently, no opinion is gtven as to whether the accounts present a 'true and frdir view and the report is limited to those matters set out in the slatem¢nt below. Independent examiner's statement In ¢onD¢dioD Wlth my ¢xaTnination. no matter h&s come to my attention: ( l) which gives me reas¢)nable cau5¢ to believe thaL in any material respect. the requirements: to keep accounting records in accordance with Sedion l JO of the Companies Act. and to prepare accounts which accord with the aeeounting records and to comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Staiement of Rec¢)mmended Practice: Accounting and Reporting by Charities have not been met; or (2) to whiclL in my opiniory attention should be drawn in order to enable a proper nderstandin8 of the accounLS to be reached. Clenshaw Minn5 Chartered Accountants King s Lynn Innovation Centr¢ I Innovation Drive. Kings Lynn, Norfolk PE30 5BY Gavin Minns BA (Hons) FCA g .3v&4JAI
THE PURFLEET TRUST RESETILEMENT PROJECT (KNG'S LYNN) LINllTED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 3111212023 3111212022 Total funds Unrestricted funds RestrACted funds Illeoming resources Housing income Fundraising Norfolk Community foundatio Counselling services Warehouse donations and grants Shop Donations Gift Aid Bank interest 399.564 421,454 6,022 4.529 33.667 111,880 11,578 33,667 69,332 107,684 54.899 48,434 75,613 32.069 26 Total incoming 60,038 665,146 685237 Direet expenses Staff expenses Premises expenses House costs 484,378 130.823 48,181 442.305 160,215 40.131 663.382 642,651 Charitsble expenditure Administration 105,713 69,637 Totsl Charitable Expellditure (769,095) (712288) Net incoming resour¢es 60.038 (I03,949) (47.593) Net movement Èn funds 60,038 (103,949) (27,051) Fund balanres at l January 2023 217.517 244,568 Transfer between funds (60,038) 60,038 Fund balances at 31 December 2023 173,606 217,517
THE PURFLEET TRUST RESETfLEMENT PROJECT (KING'S LYNN) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023 3111212023 3111212022 Notes Fixed assets Tangible assets - Urwestricted Restricted 41,770 20,301 41,770 20,301 Current assets Debtors Investments Cash at bank and in hand 40,526 14,534 151,916 256.739 192,H2 271.273 Creditors: amouuts falling due within one year (60,606) {74,057) Net current assets 131,836 197,2l6 Total assets less current liabilities 173.606 217,517 Illcome funds Restricted funds Unrestricted funds: Other charitable funds Ilb 173,606 217,517 Ila 184,826 217,517
THE PURFLEET TRUST RESErfLEMENT PROJECT (KING'S LYNN) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023 Jn approving these financial ststernents as trustees of the cornpany we hereby ¢onfimi'. a) That for the period stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006. b) That no notice has been deposited at registered offi¢e ofthe ¢ompany pursuant to Section 476 requesting that an audit be conducted for the year ended 31 De¢ember 2023. and c) That we a¢knowledge our responsibilities for: (i) Ensuring that the Company keeps accounting records which comply with section 386, and (li) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its Profit or loss for the financial p¢riod in accordance with th¢ requirements of section 394 and 395 and whi¢h otherwise ¢omply with the provisions of the Companies Act relating to accounts. so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Compantes Act 2006 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2019 preparing their ¥counts in ac¢ordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounts were approved by the Board of Trustees on ... on its behalf b . and signed TTUSt¢e . Mr R Johnson - Chairman Trustee . Mrs S P Dogsetor
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Aeeounting policies The significant accounting policie5 used in the prep&ration of these financial statements are: 1.1 Basis of preparation The financial statements have been Prepar under the histori¢ cost Convention, as modified by the revaluation of inv¢stsnents at market value. The financial stst¢m¢nts have been prepared in accordance with the Statement of Recommended Practice- Accounting and Reporting by Charities- Statement of Recommended Practice (SORP 2019) applicable UK Accounting Stsndards and the Companies Art 2006. The principal accounting policies adopted in the preparation of the financial statements ar¢ set out below. 1.2 Grants Grants and any associated repayments of income tax are nornially only accounted for when received. no account belng taken of promlsed or covenanted donations not yet receive(L 1.3 Incoming resources Donations, legacies and other forn of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement. 1.4 Resources expended Management and administration expenses reflect central establi5hrnent costs and do not include the costs of managing charitable projects. 1.5 Accumulated funds Restricted fvnds are subject to specific conditions by donors as to how they may be used. 1.6 1)onations No value has been placed on the many non-monetary donations gratefully received.
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable Expellditure Other ¢o$t$ Total 2023 Depreciatio Direct charitable expenditure Other eXpendLtte. Administration 12,891 92,822 105.713 12,891 92,822 105,713 Average h¢ad count The average number of persons employed by the company during the year amounted to 19 (2022- 18). Staff Costs 3111212023 3111212022 Salaries and wages Social security costs Pensions costs 430.111 32,491 9,072 390,792 29,922 7,512 Total staff costs 471,674 428,226 Tru$tee$ None of the trustees (or any persons connected with them) received any remunerdtion durin8 the period.
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Tangible fix¢d a$sets Unrestricted General Equipment Restricted General Equipment Total Cost At l January 2023 Additions 100,731 34,359 1,387 102,118 34,359 At 31 December 2023 135,090 1,387 136,477 Depreciation At l January 2023 Charge for the period 80,430 12,890 1,387 81,817 12.890 At 31 December 2023 93.320 1,387 94,707 Net book values At 31 December 2023 41,770 41,770 At 31 December 2022 20,301 20,301 Debtors 3111212023 3111212022 Trade Debtors Other Debtors Prepayments and accrued income 40,526 1,775 12,759 51,746 14.534 The 2023 trade debtors includes a lo&q of earnings claim of £36,780 regarding Raby Avenue. Cash at bank and in hand 3111212023 3111212022 Cash at bank and in hand 151,916 256.739 151,916 256,739 10
THE PURFLEET TRUST RESErrLEMENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Creditors: amounts falling due within one year 3111212023 3111212022 Trade ¢reditors Other taxes and social security costs Other creditors Accruals and deferred income 12,664 1,900 2,944 43,098 5.250 2,679 66,128 60.606 132,450 10. R¢conciliatiou of movements ID funds 3111212023 Opening fun(L8 Net movement in funds for the period 217,517 (43,9KI) Closing funds 173,606 Closing funds shown above are held on charitable trust and in accordance witb the restrictions ontained in the company's Memorandum of iissociation. ii. Unrestricted funds Unrestrieted llleome Alld Expenditure At l January 2023 Income Expenditure 60,038 60,038 {60,038) Transfer to Testrithed funds At 31 December 2023
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOLNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ii. Restricted funds Specific Projects Fund At l January 2023 Income Expenditure 217,517 665,146 (769,095) 113,568 60,038 Transfer from unrestricted funds At 31 December 2023 173,606 12. Transactions with directors and connected peTSOllS None of the directors (all of whom algo act as tSteeS ftjr the charitable activities of the company) entered into any material transactions, contract or other atrangement with the cornpany. 13. Analysis of net assets between funds Restricted Funds Unrestritted Funds Total Tangible fixed assets Net current assets 20,301 20.301 153,305 153.305 164,525 20,301 173,606 12
THE PURFLEET TRUST RESETfLEMENT PROJECT (KING'S LYNN) LIMITED DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2023 Housing Servie¢s Health & WellbeiJJg Centre Warehouse Shop Total Restricted Income Housing Benefits Training income Lunch and panty income Donations Couns¢lling services Warehouse Shop projeth donations Shop sales Purfleet panty subscriptions 399,162 402 399.162 402 1,801 53,098 33,667 69,332 76,292 30,985 407 1,801 53,098 33,667 69,332 76.292 30.985 407 399,564 88,566 69,332 107,684 665,146 Unrestricted Income Donations under £1,000 Donations over £1,000 Friends fundraising St Mortin in the Fields The Watlington Bingo QE Hospital Bank interest 21.823 26,611 11,578 21,823 26,611 11,578 26 26 60,012 60,038 Total Income 39990 148,578 69J32 107,684 725,184 13
THE PURFLEET IRUST RESErfLEMENf PROJECT (KING'S LYNN) LIMITED DETAILED NCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2023 Housing Servie¢$ Health & Wellbeing Centre Warehouse Shop Tolal Staff Expenses Management salary Staff salaries Staff and volunteer training Volunteers expenses Pathways centre food Payroll processing 77,690 188.631 4,841 611 26,438 89.055 2,619 611 635 350 15,494 28.815 1,108 79 12.119 33,432 573 716 131.741 339,933 9.142 2,017 635 910 350 128 82 272,123 119.708 45,624 46,922 484,378 Premises expenses Rent Rates Insurance Light and heat Repairs and maintenance Waste removal and cleaning Warehouse rent 7,250 504 2,995 4,752 1,380 4,695 7,250 504 2,995 4,752 5,816 4,695 14,500 1,482 8,531 17.877 32,038 13,195 43,200 474 1.270 2,747 2,967 1,797 43200 1271 5.626 21.875 2,008 21,576 26,012 52,455 30.780 130,823 House costs Overheads Tenant training Set up costs 47.892 141 148 47.892 141 148 48.181 48,181 14
THE PURFLEET TRUST RESETTLEMEITf PROJECT (KING'S LYNN) LIMITED DETAtLED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2023 Housing Services Health & Wellbeing Centre WArehouse Shop Total Administrgtiou Printing, postage and ststionery Advertising Telephone Computer costs Motor expenses Legal and proftssional Consultancy Accountancy Bank charges Trustee expenses Sundries Fundraising Subs¢riptions Depreciation 1.904 602 3,288 10.846 3.276 273 9,136 1,085 145 165 148 1,904 602 3.288 10.846 251 223 668 1.556 1,607 4,282 1,872 9,678 32,500 6.855 749 20.613 3,254 446 330 1,911 8.170 2.163 12.890 1.546 9,201 3,578 204 272 9,136 1,085 145 165 1.724 7,912 813 6,445 2.341 1,084 82 74 39 87 271 171 266 813 6.445 38.126 44,337 16,343 6,906 105,713 Management cEwge 20,000 20,000 10.000 10.OIK> Surplus of income over expenditure for the period (416) (21,479) (35,090) 13,076 (43,911) 15