Charlty ￿￿$tr￿lOn numb•r 1037430 Company r¢gisb*ion numbeT 02919404 (England and Wales) ST ANNE'S HOSTEL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ST ANNE'S HOSTEL LEGAL AND ADMINISTRATIVE INFORMATION Board Mr S W Morgan {ChaIm￿n) MrJ S Martin Mr P S Hwman Ms P C Shepherd DrA Passmore Ms E A Mil￿t Mr S Shama Ms Caroline Naven Mr Davxl lfjnnair Ms D Harris Socrotary Als ArNgnda TrapF*tt Charity numbèr 1037430 Company numbor 02919404 Reglstered offico 112 PAoseley Street Highgate &'rmingham West Midlands 612 ORY Independent examln•r Lumaneri Hryjse Blythe Gale Btythe Valley Pa Solihull West MKllands B90 8AH ST ANNE'S HOSTEL CONTENTS Board Statement of 808rd res[￿￿•bIlitieS Independ8nt examinefs reFQrt Statement of finawal 8(aivit￿5 Balan(* sheet 9-10 Statement of (ash flcy 11 Notes to the fina￿￿81 Ststements 12-23 ST ANNE'S HOSTEL BOARD REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The Board prèsent ￿lf ann￿￿ reKKyt and financaal stateM￿ts for the year ended 31 Maro* 2022. Th8 accounts have ￿￿en wepared in acEor(Jance with the a(xxwnting Set out in note 1 to the accounts and comply with the charitys memofandum arnl of associalion. the Compan￿$ Aci 2006 and the Statement of Recommended Practice, "Accounting and ReportiTrJ by Charibes.. Iss￿1 in January 2019. Oblgctiv•s and activiti•s The objectives are the w)vision of accomrn(hlation ￿ the aty of &miryham &ngle IK•meless who are provided ￿ assistsnce in seeking resetllement in the comrrnjnty. Thg Board have paKI due rwJard to guidance issu&l ty the Chaiity Comm[s￿l in decidirMJ whal a￿v￿$S tho charity should uThJertake. Rent Pollcy The corTrpany's OILY 15 to charge ￿Trt at levels thal are affwdable and reflecl the quality of accomm¢)datlon. management and support provided. The princiWe of afft￿d8bIe rents is to encourage rèsidènts to find employment and escape from th& cJJliuT• of Stat8 ￿nefits. To enable the company to achieve this, the ￿nI levels at some of its a￿sting and nèw properties which are used for mve-on accX)mM(xJa￿n have been reduced or set at a lower levèl than those where intensive SUPFQrt is provide(l. These reduced fent levels have not affèct8d th9 qualty of the accommodation providgd. Long t•mi $to¢k maint¢nan¢e repair policy The company'5 ￿X￿￿¢Y is to maintain its housiThJ sto(* to th8 hKJhest E￿ible &aThJards. thereby enstJriThJ ty)th staff and resident safety. Each finarbci81 year a detsiled plan is drawn up. whlth is induded in the budgets, to OLrt Ihe work detsiled and thks is monitored by senior managem8nt to ensure all appropriaie repairs arè carriad General repairs are czrried wt on a day to day bas(s when ne•Jed. The mgnoger is responsible for ensuring that repairs are identffied and carrie(l out when needed the ￿rf(￿ant￿ of contraclors is o)nstantly viewed to ensure the company achieves value nM)ney. Reserves poli The Board have adopted the poly of t￿tting funds into a desiqnated resem arKI of using the Ilesignated reserve as required. The dlredors consider that the c4)mpany has suffiuent 8ssets to meet obl•3ations as they arise on d85ignale(l and general funds. The Dire¢lors are of the opinton that the for a designated reserve has diminished as a result of substsntial repairs and maintenance •xp8nditurB. The Company can. this year. r9t8aso the reserve to fund in year cydical maintenan¢e expenditure and also not top up the cyclKal maintenance reserve from general reseN&s. The level of and need for the deSwJnaL￿ rpsgrve wll cDnlinue to be assessed gach sear. Achlevements and performan Sl Anne's continued to invest in its fa¢ilib"es durir¥J the year and has maintained the quality of its provision for sgrvice users at a time where funding is cA)nstrained. The most signffirant Trivestment to dale was made this year with the wrchase of Park Vièw llats and the development Stie, ￿th the plans for the development site now agreed and the planning application undeway. Wthin the fK)Std buikying, 8no. flats have been provided with Èn-suitÈ bathrooms. an inTrtiative which wll be eXI￿d￿d IhroLMJhcxJt the hostel when the planned new-build is omplele. ST ANNE'S HOSTEL BOARD REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Assessmont of how thg RP is achle¥lng valu• for monoy The Board recognises the importance of rtjnni￿ Ihe charity in a bu&ngss4ikè way in order to maximtse tho resources available to invest in the seNces provided to r6sKlents who are at the centre of all that we do. We seek to do this by workiry together *ryth like4nind8d Sup￿lerS and C(￿1ractOrs. TW help us dèliv8r s8rvi¢*s in a more cost-effective and efficient way by I￿rk[￿9 IxAkaboratsvely to offer jolr￿1 up solub.ons which are m innovative and better larget8d. By workir¥J t￿ether aThJ sharir￿ skius and experience. we can seek to achieve more. We ￿)nstan￿Y review our servus and opera1m￿S to erwre ￿ ￿leve gre8tsr effi¢i8n(xes and ddiver value to cyjr residents. St Anne's Hostel has prepaiwj the grourbjwork to r&p(xt against an agreed set of measures for Value for Money. that wère required by Regulator for Sooal Housiry IRSHI. St Anne's Hostel can offgr trhe fdlowing inl(¥matiorTr for VFM metrics for the year end March 2022:_ 021122 020121 elnvostm•nt % Fixed Asset Ad<￿t as rcentage of total fixed assets 8t nd of th8 pèriod 87.7% uisit￿n of Park Vi 19.3% ew Supply {Social Housing Unlts Social units develoF*d, wuired o easett iri-year as a percentage otal social units at the erxl of nod o [￿¥ swal hcyJsir¥J uni ivered in year. ew Suppty IHQn4¢Jclal Housln nits NoTrSocid units developed. a(¥ui leased in-year as a percentage o otsl siKial and r￿n-social units at nd of thè pèrr new S￿la1 houwng uni ered in ypar. earin hort and long temi loans and lea blig811￿S less cash and ca uivalents as a pèr(8ntsgg an ible fixèd assets. 2.1% od85t boffowng to fun -148.2% ITDA MRI Int8r•st Covèr % rating surpluslldefiul) ￿uS Gai lossl on disposal of fixed assets as ercentage of Capit3li5ed interest an Interest ble arHJ financin o)sts. 115.8% od8St borrowing to fv ark V*w aco)mm(xlatx)n. ST ANNE'S HOSTEL BOARD REPORT (INCLUDING DIRECTORS. REI>ORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Headllne Soclal Housl Cost £ M3nagement ¢J)st for swi81 housi nd hostel accommodation are parately idenlthed. NIA anagemenl (x>st ft)r sing and mmodab.on rate identified. NIA no perating Margin (social h￿$1 ettin s}% urplus attributab￿ to wial hwsi ol separately ident'fied. NIA urplus atlributable to socia siThJ separatel dentÈW. NIA peratlng Mwgln {0￿ra11) % 4).1% light recx)very post covi ndemi 10.7% eturn on Capital Employed % light retxwgry covi rKtemK. 24.0% Flnanclal review The rw3uAs for the year a defrit of£993 (2021 s￿￿US of- £87.8271. Plans for fLrture pgri¢)d Thè eh8rity (x)Mplet￿ the purthase of the adjacent devek)pment ptot and the 18no. flats in Park View earfier this year. The proposals lor construction on the develOpm￿t plot a￿ now agreed and the preparation of the planning applicatson is underway. with a submission rAanned wdl before the end of 2022. The purchase of Park View wotects LLS from risng lease u)sts, and the planned deveknpment wll signffi(3ndy enhance the hostel's ac¢(KnnK*lalKx) aThY fal¥￿ieS. all ofwhKh will ￿￿effl fvsdents. Structure. governance and Mana￿M•￿t The company ts limitad by guaranteé 8stablishe(l under the Companies Acl and a RegÉstergd Social Housfjng Provider under the Housing and Regeneration Act 2008. The Board. are also the directors for the pury%)se ofojnparry law, and seryed during the yèar wgra.. Mr S W Morgan {Chaiman) Mr J S Marbn Mr P S Higman Ms P C Shepher(I DrA Passmore Ms E A Millèt Mr S Sh8m18 Ms Catoline Naven Mr David Kinnair Ms D H8rrps The Board arè apw)inted in wth the artK* of assocaat*M. Non8 of th8 Board has any t￿￿ficIal irrterest in the ￿npany. Al of Ihe Board are mgmi*rs of the o)mpany and guarantge to (xMtril￿te £1 in the event of a V•indirMJ up. ST ANNE'S HOSTEL BOARD REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Promotlng th• success of the company The Board consider that the current risk str*egy and assessment arrangements aro 5uffiwnt to address the maj¢y risks to which the company is exp)sed. but they are c#Jrrenlly beiro ￿vie¥￿d. The 808r(I report was approved by the chairm￿ ofthe Board. Mr S W Morgan 18 Oclober2022 ST ANNE'S HOSTEL STATEMENT OF BOARD RESPONSIBILMES FOR THE YEAR ENDED 31 MARCH 2022 The BoariS. who are also the dirett￿$ of St Anr*'s Hostel f¢x thg wrpose of o)mpany law, are responsible for preparing the Board ReF¥)rt and the )Inancial statements in a0))rdan￿ with aFplicable law and United Kingdom Accx)unting Stsnd8rds Iunrtwj Kingdom GgneraNyAcc8Pt8d Ao)xJntiro PractKe). Company Law reqUI￿S the Board to prepare finarrial statemenls for each financial year whi(* give 8 true and fair view of the state of affai15 of the (*arity and of the infxKniThJ res(Kw￿ and application of resour￿. induding the income and èxpenditure, of the charitable conpany forthat year. In preparing these finanrAal ststeThwts. the B08rf are required to.. - select suitable ac¢xxJnling and Ihen Ir*m consthnty. - observe the methods and prirriplès fft the Charities SORP: . mak8 judggmwts 8nd estimates that are reason￿18 aTrJ wudent.. - prepare the finan(yal ststerTEnts ￿ the baw"s unless tt i% inappropriate lo presume that the charity will ¢ontinu$ in oparation. The Board are responsible for keeping adequate acwjnting reo)rds that di5Ctose WTih T￿On*>[e accuracy al any time the financial position of the tharity and ena￿e them to ensure that the finanual statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the chartty 8rKJ hence for tsking reasonable steps fr)r the prevention and detection of fraud and other Irregularit￿S. ST ANNE'S HOSTEL INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF ST ANNE'S HOSTEL I report to the Board on my oxamlnatim of Ihe finanual statemenls of St Anne's Hostel (the chantyl for the year e￿Ied 31 M8r¢h 2022. R•sponsibilitles an(f basis of rwort As th8 Bo8r(l of the chanty land also ts OIrect￿ for the wIrF￿eS of o)mpany Lawl you are responsible for th8 preparation of the financial statements in a¢(x)rfance with the requirerrwts of the Compani8s A(1 2006 (the 2006 Having satSsfied myself that the finanoaal statements of thè charlty are not required to be audtted under Part 16 01 the 2006 Act and are eligible for indepeThlent examinatKn. I report in respect of my examination of the financsal staten*nts carried out under section 145 of the Charttiès Act 2011 (the 2011 Ai*l. In carrying out my examination I have followed all the appl￿b￿ DirBcaKX)8 gven by the Charity Commiwon uTrJer section 14515llb} of the 2011 Act. Independent examlnevs sLthm•nt Since the ¢h8rity's gross income exceeded £2￿.(XX) your ex8M1r￿ be a member of a body listed in section 145 of the 2011 ACL I confirn) that l am qualffied to undertake the examin8tKM be(ause l am a mèmber of Asswatioft of Chartered certif￿ Accountsnts. whth is one of listed bc*Jies. I have c(wnpl8te(I my examinat*)n. l (onfimi that no matters have come to my alien1￿n in ￿nn￿dIon wlth the examination giviThJ me cause to bèli￿• th* in any rnaterial ￿specL accountiro records were not in res￿ of the charity as required by sgcjion 386 of the 2(M)6 Act" or the financial statements do not a(xord 7fftAlh those r￿OrdS. or the financial statements do nol ￿Mpty wth the ac0￿nting requiremwts of secbon 396 of th& 2006 A(a other than any rèquir8mènt that the arA)￿nts give a true and far vow whi¢* is not a matter c¥Jns*lered as part of an Independent examination,. or the fin8n¢ial statements have not been p￿pared in aoMdance wilh ￿ methods and prinoples of the statement of Recommetyled Pra¢b"¢e ts accounting roporling by charities applicable to charities paring their accounts in a>xrdance vmh the Financbal Re￿rtIng Standard applicable in UK an(1 Republ￿ of Ireland IFRS 1￿21. I havg no cL)r￿emS arhj have come across no otlw Fnattw5 in oJnngAh)n wilh the examination to which attention should be drawn in this reFQrt in order to enable a ￿￿er uTrJoTslatMling the finarKi81 stat8m8nts lo be reached. Jerroms Mr Richard Alan Horton Chartered Certifled Accountants Lumaneri House Blyihe Gate Blythe Valley Park SolihLtII Wesl Midlands 890 8AH Dated: 18 Octoter 2￿2 ST ANNE'S HOSTEL STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Total Unrestrtc*ed Restricted funds fijnds 2021 2021 Totsl fijnds 2022 2022 2021 Notes Income and endowments from: Donations and legac4es Charitable activities Other income 16.820 651.550 1.382 103.446 120.266 651.550 18.818 695.701 106.526 125.342 695,701 1,635 Total Income 669.752 103.446 773.198 716.152 106.526 822,678 Ex endltur8 on: Charitable actlvltl•s 689,166 774.191 667,585 67,266 734,851 Net lexpgndlturovlneomo for the yearl Net movgment in fund (19.414) 18.421 (993) 48.567 39.280 87,827 Fund ba18nce8 at 1 April 2021 223.989 142.587 366.576 175.422 103.327 278,749 Fund balances at 31 klar¢h 2022 204.575 161.(K>8 365.583 223,989 142,587 366,576 The statement of financial SnckKles an gains aThJ losses rwnisod in year. All income arKI expenditure derive frrmn (*ntinuing ￿ts¥[be* The statsment of financral actiwtres also with the requirements for an in¢￿)e and exFendilure a(uunt under the Compani8s Act 21Th. ST ANNE'S HOSTEL SUMMARY INCOME AND E￿VENDITuREAc¢ouNT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Gross income Tf3.198 822.678 Totsl expendtture frcffn income funds 4191 734.851 N•t {•xpendltureVlnc 29,121 Al 31 March 2022 {1.125.964) Carying amount At 31 March 2022 (1,125,964) At 31 March 2021 1150.2731 19- ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11 Dobtors 2022 2021 Amounts falling duè within on• y•ar. Trade debtors Prepayments and accrued irK 30.237 9.465 17.119 10,215 39.702 27.334 12 Loans and ovordrafts 2022 2021 Bank loar 241.230 P¥yable wrthin year Payable after one year 220.361 On 21 October 2￿21, a fixed tharge ov8r the freehok1 prr4)erty was regislw•d The Charity Bar*. 13 Cr•dltors: amounts falling du• wlthin one yur 2022 2021 Bank108ns Other taxalion aThJ Soci￿ 5￿Jrity Trade uedilors 12 20.869 9.954 6.406 43.363 7,939 8,299 14.361 31,112 14.774 Accwals and deferrsd income 88.531 68.546 14 Cr•drtin: amounts falling due aft•r more than on• year 2022 2021 Bank loans 12 220.361 rffOX•O 1000 LTJ r O oro* ON¢ (4 * c 88 IN 0 ¢71 %%w <¥0￿0 o*¢y f CL>_ C(J u fJQ)L>rLS 16.445 12.401) 14.044 39.647 {232021 16.445 {2,401) 14.044 The Designated Funds brwhl forvArd raw to al￿•l￿*ts set as*Je to cover t￿Ical maintgnan¢g expendi￿re th8 fu￿re and tOW8rds ¢xBts aSs￿lated with (xxjnting to provKI￿1 half ix)ard for ￿idents. 17 Analysis of n•t assets bth¥ÈÈn fvnds Total 2021 2022 2022 2021 Fund balances at 31 March 2022 ar& presented by". Tangible assets Inveslrnents Current assetsllliabiSit￿) Long tsm liabiliiies 1,552,495 11.125,964) 159,413 1381.369) 1.552.495 224,882 11.125,9641 (150.273) 159.413 149.380 (220.3611 224,882 {150.273) 291.967 142,587 161.008 204.575 t61.(X)8 365.583 223.989 142.587 366,576 18 0￿rn￿n9 l•as¢ ctynThiknents At the reporting end date the tharity had outstanoing commthnonts kn ftjlure minimum thse payrrEnts under n-cance118ble operating leases. which fall due as foll¢yw5: 2021 Wlthln ong ye8r Belween two and five yea 50.OIKJ 50,000 100,000 19 Capltsl commllm¢nts The company has no (apital ojmmitrnent as at 31 Marth 2022 ia)21£01 ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ZO Related party transactlon8 There were no disd05ab￿ relabj party tr￿aCkn duriNJ th& year (2021- rb)nel. 21 Cash generated from operations 2022 2021 (Defiutysurpus for the year 19931 87.827 Adjustrnents for. Grants rdeased Depreaation and impayment of tangibl8 ffixgd assets 129.1211 34.625 114,3051 20,959 Movements in working capilal". Ilncyeasel in debtor5 (Decreaseyincrease in cTrJitors 112.3681 {884} 112,0321 19,216 Cash labsort>gd bYVgw8r￿ from *)porallons 18.741) 101,665 Anatysls of changes In net debt At 1 Aprfl 2021 ¢a5h IlowsAt 31 March 2022 Cash at bank and in harKI 333.179 {124.9371 208,242 Loans faI￿ng due within one year Loans faI￿ng due after rrm Ihan one y 120.8691 {220.3811 120,869) 1220.361) 333,179 {366,167) 132,988)