REGISTERED IN ENGLAND COMPANYNO 02854784 THE PURFLEET TRUST RESETTLEMENT PROJECT (KINGYS LYNIN) LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCtAL STATEMENrs FOR THE YEAR ENDE4D 31 DBCENIBER 2024 REGISTERED CFIARITY NO 1037276
THB PURFLBET TRUST RESETTLEMENT PROJECT (I(ING'S LYNN) LIMITED Trustees Mr B Colson Mrs S P Dossetor Mr R Johnson Mrs L Gore Miss V E L Newton Mr A Taylor Resigned 9 May 2025 Appointed l October 2024 Resigned 29 Janiiary 2025 Charity number 1037276 Company number 02854784 Prlneipal address Pathway House Austin Fields Industrial Estate Kings Lynn Norfolk PE30 IPH Registered offjce Pathway House Austin Fields Iiidustrial Estate Kings Lynn Norfolk PE30 IPH Aceountant5 Clenshaw Minns Cliartsred AccoltantS King's Lynn Innovation Centre I Innovation Drive Kings Lynn PE30 5BY Banliers TSB Banli PIC l Tuesday IVIarket PLace Kings Lynn Norfolk PE30 IJU
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED Page Trust¢es' report Statement of TrLL8te¢s' responsibilities ndependent Examiner's report Statement of financia] activities Balance sheet Notes to the fu}01a1 statements 8-12 Detailed trading profit and loss account 13- 15
THE PURfLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their anniiaj report and accounts for the year ended 31 Dec¢inber 2024, The financiaI statements comply widi the Charities Act 2011, the Companies Act 2006, the Memorandum & Articles of Association, and tlie Statemeiit of Recommended Practice- Accoiffiting and Reporting by Charities (SORP 2019). Objects of the eharlty Ile company is a registered charity and its objects are providing r¢li¢f for li0elesS people. The organisation provides a range of community support services designed to meet the individual needs of eacli person. Review of activities The company's principal activity is providing relief for homeless people. Trustees The directors of the charitable company (the charity) are its trustees for t1 purpose of charity law and througliout tlie 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 L Gore Miss V E L Newton Mr A Taylor None of the trustees has any beneficial interest in the company. All of the trllstee8 are members of die company and giiarai)tee to contribiite £1 in the event of a winding up. Coing Concern The Triistees have carcftilly considered all available information on Ihe finances and operations of the company for 12 months from the time of approving these financial statements. In particiilar they Iiave had regard to information from budgets and forecasts for income, expenditLire and cash-flow, including the availability of unrestricted funds and reserves, credit facilities aiid any other forms of financial assistance. Taxation status The coinpany is a charity and qualified for relief from corporation tax under Taxes Act 1988, section 505. Consequently no tax liability arises. Review of financial position The company's financial activities are set out on pages 5 to 12.
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Reserve Fund Strategy The Trustees have reviewed the reserves of th¢ cliarity. This review encompassed the nattii'e of the irtcome and expenditure streams, tbe need to match variable income with f¢d cotnmitments and the nature of the reserves, The Trust¢es concluded that the charity has sufficient resources and future InMe streams to cover its ongoing commitjnent for the foreseeable htur¢. The Trustees have also reviewed the reserves in line with the Company's commitrnents in the event of the Company having to cease trading and aim to maintsin mini]num cash reserves of at least 3 months overheads. Tlie charity has Ullrestricted funds of £54,510 to Carry forwèlld for general use at the year end. Public Benefit ststement In planning Qui. activities for the year we kept in mind the Charity Commission's guidance on public benefit at our ttee me¢tings. On behalf of the Board 1117115 Mr R Johnson - Chairman Date
THB PURFLBET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED STATEMENT OF TRUSTEES, REsPONsIBIT[Es roR THE YEAR ENDED 31 DECEMBER 2024 The Law applicable to Charitable companies requires the trustees to prep8Je financial stateinents for each financial period which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the p¢riod. Ill preparing financlal stat¢ments giving a true &id fair view, di¢ trlte¢S should follow best practic¢ and,. select siiitable accounting pollcies and then apply them consistently. make judgments and estimates tlvat are reasonable and Prudent. prq)are the financial statejnents on the going concern b8sis iinless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accoimting records whicli disclose with reasonable accuracy the finanoial position of tlie charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the fu)01a1 statements comply with Coinpanies Act 2006. They are also responsible for s&feguording the assets of the cliarity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities,
IHB PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PURFLEET IRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED I report on the accoiints of the charitable company for the year ended 31 December 2024, whioh are set out on pages 5 to 12. Respective respop7sibillti8s of trustees and gxamingr The charity's trustees are responsible for the preparation of the accounts. The ch¥yity's truste¢s consider that an audit is not reqliired for this year under seotion 114 of the Charities Act 2011 (the ClTrrities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the proceduies laid down in the General Directions given by the Clwity Coirjmissioners (under section 145(5)(b) of the Charities Act. and to state whether particular matters bave come to my attention. Bayls of Independent examiner s report My examination was carried out in a¢oordan¢¢ with the General Directions given by the Charity Commissioners. An examinatÉon includes a review of the accounting records kept by tlie charity and a oompaTison of the accounts presented with tliose records. It also in¢liides oonsideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procediues undertaken do not provide all the evidence that would be required iii an audit and consequentlyi no opinion is given as to whether the accounts present a 'true and fair, view and th¢ report is limited to those matLers set out in the statement below. JndepeAdenl exa7lliFter's statement In connection with my examinatioffj no mattr lTrs me to my attention.. (l) which gives me reasonable cause to believe tIt, in any material respect, the reqLiirements'. to keep accounting records in accordance with Section 130 of tlie Companies Act. and to prepare accounts which accord with the accounting records and to Comply witli the accounting reqiiirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recotnmended Practice: Accounting alld Reporting by Cliarities have not beell Jnet. or (2) to whicli, in my opiiiion, attention should be drawn in order to enable a proper understandi1 of the accounts to be reached, Clenshaw Minns Chartered Accolintants King's Lynn Innovation Centre I Innovation Drive, Icings Lynn, Norfolk PE30 5BY Gavin Mlnns BA (Hons) FCA Date.. 11.17..Il5
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 3111212024 Unrestricted Restricted funds funds 3111212023 Total funds Incoming vesoure&y Housing income Fundraising Training income Client luncli incoine Grants Garfield Weston grant Counselling services Wareholise donations and grants Social supermarl<et grants and sales Donations Banlc illterest 453,679 399,564 11,578 10,246 1,650 2,533 43,117 25,000 8,417 58,480 128,190 45,834 33,667 69,332 107,684 103,333 26 44,219 45 Total incoming 54,510 766,900 725,184 Direet expenses Cost of sales Staff expenses Preinises expenses House costs 31,243 594,276 134,542 45,833 484,378 130,823 48,181 805,894 663,382 Charitable expenditure Administration 89,888 105,713 Total Charltable Expenditure {895,782) (769,095) Net" incoming resources 54,510 (128,882) (43,911) Net movelnent in funds 54,510 (128,882) (43,911) Fund balances at l Janu8Jy 2024 173,606 217,517 Transfer between funds (54,510) 54,510 Fund balances at 31 December 2024 99334 173,606
THE PURFLEET TRUST RESETTLEMENT PROJECT UCtNG'S LYNN) LifkllTED BALANCE SHEET AS AT 31 DECEMBER 2024 3111212024 3111212023 Notes Fixed assets Tangible assets - Unrestricled Restricted 36,842 41,770 36,842 41,770 Current assets Debtors Inveslmeiits Cash at banlc and in hand 1.,406 40,526 179,289 151,916 180,695 192,442 Creditors: amounts falling due within one year (118,303) (60,606) Net current assets 62,392 131,836 Total assets less current liabiIities 99,234 173,606 Income fiinds Restricted funds Unrestricted fLmds'. Other charitable funds Ilb 99,234 173,606 Ila 99,234 173,606
THE PURFLEET TRUST RESETTLEFYIENT PROJECT (KING'S LYNN) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 In approvllig these financial statements as tnistees of the company we hereby COnfm,, a) That for the period stated above the coinpany was entitled to tlie exemption conferred by section 477 of the Companies Act 2006. b) That no notice has been deposited at registered office of the coinpany pursuant to Section 476 r¢qiStIng tIRt an audit b¢ conducted for the year ended 31 Deceniber 2024. and c) That we acknowledge oiir responsibilities for: (i) Ensuring that the company keeps accoiinting records which comply with section 386, and (li) Preparing accoiints which give a true and fair view of the state of affairs of the company 8s at the end of the financial period and of its profit or loss for the financial period in accordance witli the requirements of section 394 and 395 and which ot1ieTwise comply with the provisions of tlie Companies Act relating to accounts, so far as applicable to tli¢ company. Tliese financial statements have been prepared in accordance with the special provisions of Part 15 of the Coinpanies Act 2006 and the Statement of Reconllnended Practice: Accounting at Reporting by Charities 2019 prepariiig their accounts in accordance with the Financial Repoi'ting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounts were approved by tlie Board of Trustees on ,. on its behalf b ..7J.17..1.IS.......... and signed Trustse ... Mr R Johnson - Chairmlln Trustee Mr B Colson
THE PURFLEET TRUST RESETfLBMENf PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies The significant accounting policies used in the preparation of these financial statements 'e: 1.1 Basis of preparation The financial statements have been prepared under the historic cost convention, as rnodified by the revaliiatioii of iiivesttnents at inarket value. The financial stateinents liave been prepared iii accordance with the Stateinent of Recommended Practice- Accounting and Reporting by Charities- Statement of Re¢ominended Practice (SORP 2019) applicable UIC Accoiinting Standards aiid the Compaiiies Act 2006. The principal a¢coLinting policies adopted in the preparation of the financial statements are set out below, 1.2 Grants Grants and any associated repayments of income tax are normally only accounted for when received, no account being taken of promised or covenanted donatÉons not yet received. 1.3 Incoming resources Donations, legacies and otlier forins of voluntary income are recognised as incoming resowc¢s when receivable, except insofar as they arc incapable of financial measurement. 1.4 Resources expended Mlagement and adininistr1on expenses reflect central establishinent costs and do not include the costs of managing cliaTitable Projeots. 1.5 Accumulated funds Restricted funds are subject to specifio conditions by donors as to how they may be used. 1.6 Donations No value lus been placed on the many iion-monetary donalions gratefully received.
THE PURFLEET TRUSI. RESETTLENffiNT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable Ei xpendlture Other costs Total 2024 Depreciation Direct charitable expenditure Oth¢r expenditLire'. Administration 12,296 77,592 89,888 12,296 77,592 89,888 Average head count The averag¢ number of persons einployed by the company during the year amounted to 21 (2023., 19). Staff Costs 3111212024 3111212023 Salaries and wages Social securfity costs Pensions costs 521,771 42,168 10,934 430,111 32,491 9,072 Total stalf costs 574,873 471,674 Trustees None of the trustees (or any persons connected with thein) received any TemuneTation diuing the period.
TI-IE PURFLEET TRUST RESEThLEMENT PROJECT (KING'S LYNN) LIMrfED NOTE TO THE ACCOUNTS FOR THE YBAR ENDED 31 DECEMBER 2024 Tangible fixed assets Unrestricted General Equlpment Restricted General Equipment Total Cost At l January 2024 Additions 135,090 7,369 1,387 136,477 7,369 At 31 December 2024 142,459 1,387 143,846 Depreciation At l January 2024 ClTrrge for the period 93,320 12,297 1,387 94,707 12,297 At 31 December 2024 105,617 1,387 107,004 L¥et book values At 31 December 2024 36,842 36,842 At 31 December 2023 41,770 41,770 Debtors 3111212024 3111212023 Trade DebtOTS Other Debtors Prepayments and accrued income 1,406 40,526 1,406 40,526 The 2023 trade debtors includes a loss of earnings claiLn of £36,780 regarding Raby Avenue. Cash at bank and in hand 3111212024 3111212023 Cash at bank and in hand 179,289 151,916 179,289 151,916 10
THE PURFLEET TRUST RESETTLEN(ENT PROJECT (KING'S LYNN) LIMITED NOTE TO THE ACCOUWS FOR THE YEAR ENDED 31 DECEMBER 2024 Creditors: amounts tallillg due Ivithin one year 3111212024 3111212023 Trade creditors Other taxes and social secwity costs Other creditors Acci'uals and defeLTed income 8,468 12,664 1,900 2,944 43,098 2,973 106,862 118,303 60,606 10. Reconciliation of movements in fund5 3111212024 Openiiig flinds Net moveinent in funds for the period 173,606 (74,372) Closing funds 99,234 Closing funds shown above are lield on charitable tnist and in accordance with the restrictions contained in the company's Memorandum of Association. ii. Unrestricted funds Unrestricted Income and Expenditure At l January 2024 Income Expenditure 54,510 .54,510 (54,510) Transfer to restricted funds At 3 l December 2024 11
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING, S LYNN) LIMITED NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. b. Restricted funds Specific Projects Fund At l January 2024 Iiicome Expenditure 173,606 766,900 (895,782) 44,724 54,510 Transfer froin unrestricted funds At 31 December 2024 99,234 12. Transactions With directors and connected pev&ons None of the directors (all of whoin 8180 act as trustees for the clwitable activities of the ompany) entered into atly material transactions, contract or other arrangement with the company. 13. Anatysis of net assets between funds Restricted Funds Unrestricted Funds Total Tangible fixed assets Net current assets 20,301 20,301 78,933 78,933 78,933 20,301 99,234 12
THE PURFLEET TRUST RESETTLETrIENT PROJECT (KING'S LYNN) LIMITED DETAILED INCOME AND EXPENDITURE FOR THE YEAR FNDED 31 DECEMBER 2024 Housiiig Services Health & Wellbeing Centre Warehouse Shop Total Restricted Income Housing Benefits Training income Client lunch incorne Garfield Weston Grant Grants Doiiations Counselling servioes Warehoiise Social supertnarket grants Social supermarlcet sales 453,679 453,679 1,650 2,533 25,000 43,117 45,834 8,417 58,480 82,193 45,997 1,650 2,533 25,000 26,667 45,834 8,417 16,450 58,480 82,193 45,997 453,679 iio,ioi 144,640 766,900 Unrestricted Income Donations under £1,000 Donatioits over £1,000 Just Giving Bank interest 25,707 18,512 10,246 25,707 18,512 10,246 45 45 45 54,465 54,510 Total Income 453,724 164,566 58,480 144,640 821,410 13
. THE PURFLEET TRUST RESETTLEMEFU PROJECT (KING'S LYNN) LIMITBD DETAILED INCOME AND EXPENDITURE FOR THB YEAR ENDED 31 DECEMBER 2024 Housing Servlces Health & Wellbeing Centre Warehouse Shop Total Cost of sales Shop purchases of food 31,243 31,243 31,243 31,243 Staff Expenses Manageinent salary Staff salaTies Staff and volunt¢er training Volimteers expeLises Pathways centre food Payroll processing 87,928 214,686 4,132 682 37,804 90,217 4,132 682 1,328 348 21,281 24,452 1,787 1,265 21,383 77,122 1,541 2,738 168,396 406,477 11,592 5,367 1,328 1,116 348 210 210 307,776 134,511 48,995 102,994 594,276 Premises expenses Rent Rates Insurance Light and heat Repairs and maintenance Wastc reinoval and cleaning Warehouse rent 7,250 646 1,845 5.560 4,107 4,097 7,250 645 1,845 5,560 4,830 4,097 14,500 1,466 12,148 22,778 27,595 12,855 43,200 175 5,690 2,410 8209 1,910 43,200 2,768 9,248 10,449 2,751 23,505 24,227 61,594 25,216 134,542 House costs Overheads Set up costs 45,550 283 45,550 283 45,833 45,833 l4
THE PURFLEET TRUST RESETTLEMENT PROJECT (KING'S LYNN) LIf*irrED DETAILED COmE AND EXPENDITURE FOR THE YEAR ENDED 31 DECEfvIBER 2024 Houslng Services Health & Wellbeing Centre Warehou8e Shop Total Administration Printing> Postage and stationery Advertising Telephone Computer costs Motor expenses Legal and professioiial Consultancy Accountancy Bank charges TrLiStee expenses Sundries Fundraising Subscriptions Depreciation 574 255 4,211 8,144 1,441 74 4,841 944 169 153 106 574 255 4,211 8,144 720 74 4,841 944 169 153 606 3,003 1,662 6,148 1,860 74 1,971 5,296 2,521 74 2,694 944 118 iii 102 192 754 231 1,467 1,824 2,747 2,521 3,239 2,051 12,217 24,331 7,203 222 15,002 2,832 579 528 814 3,576 4,998 12,296 2,626 123 i li 381 920 1,662 6,148 28,722 31,504 16,711 12,951 89,888 Matllg¢ment charge (50,000) 25,000 25,000 Surplus of income over expenditure for t.he period (2,112) (676) (68,820) (2,764) (74,372) 15