Reglstered company number: 02807564 (England and Wales)
Registered charity number: 1040176
The Bond Board Limited
Company Limited by Guarantee
Report of the Trustees and
Financial Statements
For The Year Ended
31 March 2024
thethboard
on
because everyone needs aplace to call home
mha
MOORE & SMALLEY

The Bond Board Limited
Company Limited by Guarantee
Contents
Page
Reference and Administrative Details
Trustees Annual Report lincorporating the Directors. report)
Independent Auditors Report
12
Statement of Financial Activities (incorporating Income and Expenditure Account)
16
Statement of Financial Position
17
Statement of Cash Flow
18
Notes to the Financial Statements
19

' The Bond Board Limited
Company Limited by Guarantee
Reference and Administration Details
For the year ended 31 March 2024
Registered Company Name
The Bond Board Limited
Registered Company Number
{England & Wales)
The Bond Board is a company limited by guarantee, number
02807564 {not having a share capital).
Registered Charity Number
The company is a Registered Charity, number 1040176 and its
Memorandum of Articles of Association govern its functions.
Every member of the company undertakes to contribute to the
assets if the company is wound up while helshe is a member, or
within one year of ceasing to be a member, such amount as may be
required not exceeding £1.
Principal and Registered Office
The Bond Board Limited
209-211 Bury Road
Rochdale
Lancashire
OL114EE
Trustees
E Draper (Chair}
S Mccarthy
K E Thomas (resigned 17110123}
M Rollinson
A Underdown
T Fisher
Company Secretary
A Beeput (Chief Executive)
Accountants
MHA
Richard House
Winckley Square
Preston
PRI 3HP
Auditors
Barlow Andrews LLP
78 Chorley New Road
Bolton
BL14BY
Senior Statutory Auditor
A Cornes FCA
Page11

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report {incorporating the Directors, report)
For the year ended 31 March 2024
Charitable Objectives
Scope
The trustees (who are also directors of the charity for the purpose of the Companies Act), present their annual
report and audited financial statements for the year ending 31st March 2024. The trustees have adopted the
provisions of the statement of recommended practice (SORPI "Accounting and Reporting by Charites" in
preparing the annual report and financial statements of the charity.
The financial statements are prepared in accordance with the accounting policy set out in the notes of the
accounts and comply with the Charities Act 2011, Companies Act 2006, the memorandum and articles of
association, and accounting and reporting by charities,. Statement of recommended practise applicable to
charities preparing their accounts in accordance with the financial reporting standard applicable in the U K and
the Republic of Ireland published in October 2019.
Our Charitable Purpose and Activities
Our Purpose and our charitable activities focus on the alleviation of poverty, including homelessness, by
providing access and support to people living in the private rented sector on welfare benefits or a low income.
Funds from various sources are used to deliver these objects in order to provide high quality, creative solutions
to people experiencing homelessness and insecure tenures.
Ourvision is a safe, accessible, just, and sustainable private rented housing sector for people on low incomes.
Our Mission is to alleviate the problems of sustainability, standards, and access to the private rented sector
amongst people on low incomes who are threatened with homelessness, homeless, or inadequately housed
in the Northwest of England.
Our Activities
The Bond Board's main aim is to provide access to private rented accommodation, and to support people to
maintain a tenancy and to prevent homelessness. The organisation, through specific partnership pilot projects,
{e.g., Changing Futures, Rochdale and Greater Manchester, Housing First-Pilot) help to relieve poverty and
end repeat homelessness.
Our activities are provided primarily in Rochdale and Bolton, but we have also delivered services during this
period in Bury, Oldham, Stockport, and Wigan in Greater Manchester.
Public Benefit
The charity's activities of addressing the issues of homelessness and poverty are undertaken to further the
charitable purposes for the public benefit, and the trustees believe that all of the charity's activities satisfy the
Charity Commission's general guidance on public benefit.
Governing Document
The Bond Board is a company limited by guarantee governed by its memorandum and articles of association
dated 17th March 1993. It was registered with the Charity Commission on 17th August 1994. This
Memorandum of Association sets out our objectives, powers, and governance arrangements through our
Articles of Association. In the event of winding up members have agreed to contribute a sum not exceeding
£1.00.
Page12

'The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Organisational structure
The trustees have the responsibility for the strategic direction of the organisation and the Chief Executive is
responsible to the board for the day to day running of The Bond Board, including the implementation of the
business plan. All the trustees agree that clear division of key responsibilities beiween the Chair and Chief
Executive are essential elements in the charity's good governance framework and facilitates the effective
operation of the board.
The chair is responsible for the effective leadership of the board and takes no part in the day to day running of
the charity. The chief executive is responsible for the operational leadership of the charity's business and
managing it within the authority delegated to them by the board.
The trustees meet quarterly and also have an annual review day. The meetings take place in person and
online. There is a finance subcommittee that meets two to three times during the year as required, to review
the financial processes, performance against budget, and to oversee the audit process.
In order to deliver on our strategic objectives, the trustees monitor the key performance indicators and
measures for our business performance which include the following.. organisational risk register., equality
monitoring,. numbers using the services., budget reports,. management accounts,. complaints- beneficiaries,
tenants and stakeholder feedback., contract compliance. staff sickness returns,. and staff turnover.
The Chief Executive manages the strategic leadership team comprising the respective service managers and
a business development manager to support them in the performance of their duties including the development
and implementation of the strategy-, the monitoring of operations and financial performance. the assessment
of control and risk,. the supervision and prioritisation of resources, as well as the day to day operational
management of the charity, including its delivery of services to our beneficiaries. The development and
investment in the strategic leadership team over previous years has enabled the organisation to grow and
diversify the range of services in order to achieve our charitable objectives.
Recruitment and appointment of trustees
The chair and vice were both re-elected to serve another year at the last AGM. Els Draper was appointed as
Chair and Andrew Underdown as Treasurer.
Our trustees are from a variety of professional backgrounds relevant to the work of the charity including a
private landlord. Our trustees are responsible for the good governance, strategic direction, and oversight of
the charity.
A trustee resigned after six years of service to the charity during this period. A recruitment and succession
strategy has been put in place to recruit trustees with the right skills and experience to add value, and to
develop and maintain the good governance of the organisation.
We recruit trustees who share the organisation's aims and values and who can support the work of the
organisation. Prospective trustees go through a formal recruitment process and have a period of time as an
observer before a formal invitation is made for them to become a trustee. Induction training is available for all
new trustees and other training is available to all trustees as required.
The Bond Board aim to increase the number of trustees from five to seven in the next 18 months. In more
recent months during the summer of 2024, we have been able to recruit new trustees that we plan to
appoint at the 2024 AGM.
Page13

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
The board acknowledges that it does not fully reflect the diversity of our beneficiaries and we aim to achieve
greater diversity through the recruitment of new trustees in the coming year. We will do this whilst placing
emphasis on ensuring that our trustees provide the specific mix of skills and expertise that have been identified
in the charity's strategy, to deliver our charitable objectives and good governance.
Trustee induction and training
The induction process is defined in a tailored plan agreed with the incoming trustee, which includes reference
to responsibilities of trustees as stated in the charity's article of association and the guidance for trustees from
the Charity Commission. Prospective trustees are observers at trustee meetings before being appointed as a
trustee at the Annual General meeting. Upon appointment, arrangements are made for them to tour the
charity's office and projects with opportunities to meet the staff, volunteers, and service-users.
Related parties
There were no transactions with related parties of the trustees and key management personnel for the
accounting period.
Beneficiaries, voice
We are committed to listening and responding to the voices of our beneficiaries, and the Quids-in Coffee
Mornings play a vital role in this process. These events have continued to grow in popularity throughout 202314
and reached a record high of over 1,200 attendees. By providing an informal and welcoming space, the Coffee
Mornings allow us to engage directly with our diverse beneficiaries. Here, we actively listen to their experiences
of living in the private rented sector, identify gaps in services, and discuss ways we can improve our support.
This valuable feedback directly shapes and enhances the services offered by the Bond Board, ensuring they
meet the real needs of those we serve.
Pay policy
The trustees agree the pay and remuneration of the key management personnel with reference to the National
Joint Council INJC) and the local authorities, pay scales. Salaries are reviewed annually. All staff including the
chief executive officer and senior managers had an increase in this period of 6% to assist staff with the
continuing cost-of-living rise. This pay increase enabled the organisation to remain competitive, as retention
and recruitment of good staff has been challenging over the last five years.
The Bond Board strives to be a real living wage employer as defined by the National Living Wage Foundation
and, whilst we have achieved this during 2023124, it continues to be challenging with the ongoing below or no
inflation increases on our local aLfthority contracts and grants that we have received in the last four years.
The Bond Board contributes to a defined contribution pension scheme. The assets of the scheme are held by
a separate independent company which administrates the funds. The pension scheme is an auto-enrolment
compliant scheme. The charity has no liabilities beyond making its contributions and paying across the
deductions for the employees, contributions.
Financial review
The total income of the charity in the year to the end of March 2024 was £1,294,420 (2023 £1,217,472) and
total expenditure £1,334,408 (2023 £1,351,086}, resulting in net expenditure of £39,988 (2023 £133,614)
related to reserves.
Unrestricted funds at year end were £460,543 and the value of restricted funds was £412,857, giving total
funds of £873,400 to be carried forward to 2024125.
Page14

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Designated funds
The Bond pot for bonds that are issued in Bolton and Bury of £80,000 is maintained to underwrite the bond
commitments in the event that we would be required to pay all the bonds as part of an orderly wind up of the
service. A further £330,000 (2023 - £220,000) has been designated to ensure sufficient funds are held to cover
3 months, running costs.
Reserves policy
Our unrestricted liquid funds are defined as "free reserves., Combined with appropriate use of designated and
restricted funds, our policy is to accumulate free reserves sufficient to mitigate risks associated with.. delay in
capital receipts Icashflow), unforeseen essential expenditure, costs arising from management of change of
short-term cessation of project funding, to help fund required investment in buildings and facilities, or to
accommodate plans for expansion and development of services
all with the aim of improving our overall
efriciency and effectiveness for the benefit of our beneficiaries and for sustainability of the charity.
Our lower free cash reserve holding has been established to reflect 3 months, running costs. Our upper free
ash reserve holding has been established to reflect approximately 6 months, operational costs. On this basis
at the financial year end, our lower free cash reserve target is £334,000- and our upper free cash reserve is
£668,000. Total free reserves at the year end, which comprised unrestricted funds net of fixed assets and
designated funds, amounted to £3,900., however, £330,000 held within designated funds is specifically
earmarked to cover three months, running costs. The fund is now just fulfilling our minimum criteria. A further
£80,000 designated fund is maintained to cover bond commitments held by the organisation.
If or when there is a shortfall on our lower free cash reserve holding, associated risks and remedial actions are
defined, agreed, and reviewed by management and trustees at formal minuted trustee meetings. If or when
the upper level of free cash reserves is exceeded, trustees and management will take timely action to bring
the holdings down within the target sum. This might involve investment or transfer to other forms of assets or
by developing additional services that are in line with our charitable purpose to meet the needs of our
beneficiaries.
We remain satisfied that our reserves targets, combined with our "designated" and "restricted" fund holdings,
are sufficient to enable the charity to effectively manage contractual risks, issues, and organisational
development or to wind up its activities in an orderly fashion should the need arise.
Investment policy
Our investment objective is to achieve capital growth in excess of inflation (RPI) on all our cash holdings. Our
strategy is to strike a balance belween..
Maintaining short term liquid cash holdings to meet our planned and possible unplanned needs on a rolling
basis in accordance with our reserves policy,
Seeking increased interest yield available on medium to long term cash investments with an acceptable
level of risk in order to achieve a stable and growing income stream, and the possible acquisition of
buildings and facilities which meet our direct charitable needs.
In making investments, we are mindful of our duties and responsibilities defined within our Memorandum and
Articles. The trustees, having a regard to the liquidity requirements of the charity and to the reserves policy,
have operated a policy of keeping funds in interest-bearing deposit accounts and bank bonds. To mitigate
banking risks, the organisation will only deposit funds with UK registered banks with a good credit rating, in
order to take advantage ofthe ofthe Bank of England's regulatory oversight. Trustees review deposits annually
in order to maximise the capital growth on the organisation's cash holdings.
Page15

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Organisational risk
The Bond Board continues to face a number of risks to its operations going forward into the next financial year.
The trustees review the organisational risk register on a quarterly basis and have a number of control measures
to manage risk during the year. During 2023124 there were three main risks that continue to be a concern for
the trustees, and these were..
1. Failing to attract enough money for our core services ofenabling people to access affordable private rented
accommodation.
2. Not being able to recruit staff with the right skills and knowledge to deliver our projects, to achieve our
charitable objectives, and to fulfil the outcome requirements of funders.
3. The Bond Board services being able to adapt to Government legislative and policy changes, especially
tenant reforms, tax and environmental standards that are in the pipeline, which will affect both tenants and
private landlords
In response to the current very uncertain operating environment, The Bond Board is pursuing a strategy,
developed in previous years of uncertainty, of innovation, diversification of funders and partnerships to meet
these challenges. The organisation is seeing a return on its investment in this strategy with an increase in
income and a diversification of its partnerships.
Building on the success of the previous years, work to deliver on the strategy, by exploiting our core
competencies, but also responding to lessons learned and the voices of our beneficiaries and stakeholders, a
five-year strategy was launched at the AGM in November 2021.
The organisation continues to pursue a strategy to manage the risks with five key aims..
A greater diversification of its funding sources for its services.
Generating an income for its services where possible by selling services to private landlords and by
tendering contracts.
Ensuring that contracts and grants are a mixture of long term (three years or more) and fewer short-term
contracts {12 months or less).
Investing in the organisation's infrastructure and innovation to reduce costs, increase productivity, and
improve the outcomes for our beneficiaries.
To generate a small surplus each year to help build the level of free reserves that can be used for
investment in the charity's infrastructure and development of services for our beneficiaries.
Partnership working
The Bond Board is a wholly independent charitable organisation with no subsidiaries. However, we do work
very closely with a number of national and local agencies as a delivery partner and service provider. Most
significant amongst these relationships is being a delivery partner of Housing First with the Greater Manchester
Housing Providers which is made up of Greater Manchester social landlords and the National Health Service.
The charity also works closely with many local community groups and organisations to help it deliver its
objectives. In addition, the charity periodically receives grant funding from national and regional commissioners
for the delivery of services.
Page16

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Achievements And Performance
The Bond Board has now been operating 30 years, we proudly reflect on three decades of empowering
individuals in the private rented sector. Our journey has been driven by a commitment to support, listen and
innovate. Amid the current housing crisis our work remains as critical as ever in preventing and ending
homelessness.
Over the past year, the Bond Board has made significant strides in supporting ex-offenders, asylum seekers,
homeless individuals, and vulnerable families, building on previous successes and expanding its reach across
Bolton, Bury, and Rochdale.
We exist to provide housing and support in the private rented sector for the hundreds of homeless and
vulnerable households that ask us for help each year. Despite the challenges of the rental housing market,
Including rapidly rising rents and landlords selling up, we were able to support 1625 homeless households to
get housed or maintain their homes in 2023124. We also continued to deliver support, training, and incentives
to over 300 landlords and letting agents who provide homes for homeless and low-income households.
The Bond Guarantee
The Bond Board's impact on housing vulnerable people is further evidenced by their bond guarantee program,
which provided 104 bond guarantees, allowing 251 homeless individuals, including 67 children, to move into
affordable private rental properties. Even in a challenging rental market, 83 % of these tenants managed to
sustain their tenancies for over a year, reflecting the effectiveness of the support provided.
Preventing homelessness remains at the core of the Bond Board's mission. Over the past year, they have
supported households with early interventions, including mediation between landlords and tenants. Their
efforts have been especially effective in Rochdale, where 92 % of tenants who received support were able to
maintain their tenancies. Additionally, the Bond Board tackled food and fuel poverty, assisting hundreds of
households with accessing grants for essential household items like beds, fridges, and cookers.
Accommodation for ex-offenders
One of the standout achievements has been the housing of ex-offenders. In the last 12 months, 44 single ex-
offenders found homes in private rented properties, thanks to a collaborative effort with local authorities. This
initiative is part of a broader goal to house 60 ex-offenders by March 2025, offering them the chance to rebuild
their lives with stable accommodation and support.
Letting Out
The Bond Board's ethical letting agency, Letting Out, continues to thrive, managing 144 properties for
landlords. A significant increase of 50 properties from the previous year. This agency is notjust about property
management, it is about transforming lives. By bringing 22 long-term empty properties back into use in this
year, including that had been vacant for over 18 years, the agency has provided much-needed low-cost
homes for homeless people. This success is due in large part to close partnerships with Rochdale Council and
local landlords, as well as the efforts of local skilled tradespeople
A new family leasing project, launched in 2023, also marks a major development in the Bond Board's work.
The project, funded for five years, aims to lease 40 properties from private landlords, reducing the number of
families living in temporary B&B accommodations in Rochdale. Although the initial deadline of March 2024
was extended to July 2024 due to necessary refurbishment work to bring properties up to decent standard, the
project remains on track to achieve its goals, offering families a chance at stability in quality homes.
Efforts to support rough sleepers have faced challenges but have still resulted in meaningful outcomes. The
Bond Board received funding to convert empty commercial properties into good quality one-bedroom flats,
providing much-needed accommodation for those experiencing homelessness. While the project has taken
longer than anticipated due to planning issues, 11 of the 16 flats have been completed and occupied, with the
remaining five scheduled for completion in January 2025.
Page17

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Housing First
The Bond Board is a committed partner of the Greater Manchester Housing First, a program designed for
people with complex needs who have experienced rough sleeping, this work also continued to make a
difference overcoming barriers for its beneficiaries. Overthe pastfive years, our Housing Firstteam has worked
with 37 individuals across Bolton, Bury, and Rochdale, providing intensive support to help them secure and
manage their own tenancies. With funding extended until March 2025, the Bond Board remains committed to
this Housing First partnership to deliver this life-changing service.
Migrant Support Services
As the housing crisis continues, the Bond Board has seen a rise in the number of people seeking their services,
particularly asylum seekers and refugees who have recently been granted leave to remain. In response, with
the support of our volunteer co-ordinator, five volunteers with lived experience of the asylum process have set
up weekly drop-in advice sessions, offering vital support to those navigating their new circumstances. This
initiative, launched in October 2023, helped 94 households by the end of March 2024. The success of this
service led Rochdale Council to extend their service level agreement for another 12 months with the Bond
Board until 31st March 2025, ensuring continued support for migrants in the area.
Quids-in Coffee Mornings
The sense of community fostered by the Bond Board extends beyond housing. Their Quids-in coffee mornings
have grown in popularity, with 1,239 people attending in the past year, an increase from 942 the previous year.
These gatherings offer more than just a hot drink,. they provide advice, friendship, and sometimes essential
hygiene products to those in need. With support from a small grant from Action Together, attendees also
participated in activities designed to alleviate social isolation, from boating on a lake to crazy golf, and even a
trip to Blackpool Zoo. The coffee mornings have become a lifeline for many, helping people to overcome
loneliness and build connections as well as accessing advice to sustain their tenancies.
Volunteers
Volunteers have played a crucial role in the Bond Board's work. Over the past year, 17 new volunteers joined
the organization, 10 of whom are former service users. These volunteers have helped to deliver coffee
mornings, offering peer support, and making attendees feel welcome.
The Bond Board trustees would like to extend their gratitude to all of our volunteers, partners, and donors.
Their support and efforts have been instrumental in the continued success of the Bond Board.
Tenancy Advice Service
The importance of early intervention in preventing homelessness was further highlighted in an independent
evaluation of the Bond Board's Tenancy Advice Service. The evaluation revealed the profound mental health
impact of facing homelessness or living in poor conditions but also showcased the resilience of those who
seek help living in particularly challenging circumstances. By intervening early, the Bond Board has helped
prevent many evictions, offering people a chance to resolve their housing problems before they escalate.
Looking ahead, the Bond Board remains focused on supporting vulnerable people across Greater Manchester.
Whether through housing, advice, or community-building initiatives, their work continues to offer hope and
stability to those who need it most living in private rented homes.
Plans for the year ahead
Looking ahead, the Bond Board is preparing for a year of advocacy, innovation, and continued support for the
vulnerable communities it serves in the following areas. Over the next two years we plan to change the
organisation's name, to better reflect what we aim to achieve for our beneficiaries and the range of services
we deliver for them.
Page18

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Advocacy and Amplifying Beneficiaries, Voices.
Standing up for our beneficiaries and continuing to innovate in the face of many challenges, the organisation
will continue to work to ensure that those most at risk in the private rented sector have access to secure
housing and vital support services to prevent and reduce homelessness.
As the national, regional, and local governments implement changes to the private rented sector and welfare
system, the Bond Board plans to use its trusted position within the community to give a voice to its
beneficiaries. By amplifying their experiences and concerns, the organisation will ensure that decision-makers
understand the real-life impacts of these policy shifts.
Adapting to Changes in the Private Rented Sector
The coming year will bring significant challenges for private tenants and landlords, and the Bond Board is
committed to adapting its projects to ensure that people with poor housing histories (who are often seen as
undesirable tenants), still have a pathway to secure housing. Our focus will remain on sourcing affordable
private lets for those facing homelessness, ensuring that even the most vulnerable individuals have access to
stable homes.
Securing Affordable Housing for Vulnerable Groups
To meet these goals, the Bond Board aims to secure ongoing funding for key initiatives. This includes the
popular Quids-in coffee mornings which provide essential social and practical support, and our various tenants
support services, which have been instrumental in preventing homelessness. The Bond Guarantee scheme,
property leasing projects, and empty homes initiatives, will also remain a priority, alongside efforts to
incentivise small works improvements and offer training for landlords. These programs, which have proven
successful in creating and maintaining housing opportunities, will continue to be central to the Bond Board's
strategy.
strengthening Crisis Support and Safety Nets
Additionally, the Bond Board recognises the importance of providing practical, immediate assistance to those
in crisis. In the year ahead, the organisation will actively seek funds to bolster its safety net for the most
vulnerable individuals living in the private rented sector. This will ensure that people facing hardship have
access to essential support, whether through financial assistance, advice, or access to household necessities.
Enhanced Peer Volunteer Engagement
A key part ofthe Bond Board's future strategy will involve building on the success of its peervolunteer program.
By engaging volunteers from within the community, particularly those with lived experience of housing
challenges, the organisation can better understand the evolving issues faced by its beneficiaries. This
grassroots insight will be crucial for developing new responses and refining existing programs, ensuring that
the Bond Board's work remains relevant and effective in addressing the needs of those it serves.
Page19

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Statement of Trustee Responsibilities
The trustees (who are also the directors of The Bond Board Limited (a company limited by guarantee} for the
purposes of Company Law) are responsible for preparing the Trustees Annual Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice}.
Company Law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources, including income and expenditure, of the charitable company for that period. In preparing those
financial statements, the trustees are required to-
Select suitable accounting policies and then apply them consistently.,
Observe the methods and principles in the Charity SORP.,
Make judgements and estimates that are reasonable and prudent.,
state whether applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements., and
Prepare the financial statements on a 'going-concern' basis unless it is inappropriate to presume that the
charitable company will continue in business
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financi21 position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Page | 10

The Bond Board Limited
Company Limited by Guarantee
Trustees Annual Report (incorporating the Directors, report)
For the year ended 31 March 2024
Statement as to disclosure of Information to Auditors
In so far as the trustees are aware
There is no relevant audit information of which the charitable company's auditors are unaware,
The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditors are aware of that information.
Auditors
Barlow Andrews LLP were appointed as auditor to the company and a resolution proposing that they be
reappointed will be put at the forthcoming Annual General Meeting.
Approval of the Trustees, Report
The trustees, who are also directors of the Charity for the purposes of the Company Act 2006, present their
report with the financial statements of the Charity for the period ended 31st March 2023. The trustees adopted
the provision of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities
issued in 2019.
As such, this forms the Annual Report of the Trustees for the purposes of S162 of the Charities Act 2011 and
S445 (3), S414A-414D (Report of the Trustees) of the Companies Act 2006.
Report of the Trustees, approved by order of the board of trustees, as the company directors, on 20 November
2024 and signed on the board's behalf by:
1 fi Shof
T Fisher
Trustee
Pagel 11

The Bond Board Limited
Company Limited by Guarantee
Independent Auditors, Report
For the year ended 31 March 2024
Opinion
We have audited the financial statements of The Bond Board Limited for the year ended 31 March 2024 which
comprise the statement of financial activities, the balance sheet, statement of cash flows and notes to the
financial statements, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and
Republic of Ireland {United Kingdom Generally Accepted Accounting Practice)-
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK} (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company
in accordance with the ethical requirements that are relevant to our audit of the financial statements in the U K,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as
a going concern for a period of at least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
othemise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page | 12

The Bond Board Limited
Company Limited by Guarantee
Independent Auditors, Report
For the year ended 31 March 2024
Opinion on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit..
the information given in the trustees, report, which includes the directors, report prepared for the purposes
of company law, for the financial year for which the financial statements are prepared is consistent with
the financial statements-, and
the directors, report included within the trustees, report has been prepared in accordance with applicable
legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the directors, report included within the
trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not been received
from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns-, or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees. report and from
the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees (who are also directors of
The Bond Board Limited for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities including fraud. Our approach to identifying and assessing the risks of material misstatement in
respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows..
Pagel 13

The Bond Board Limited
Company Limited by Guarantee
Independent Auditors, Report
For the year ended 31 March 2024
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.,
we identified the laws and regulations applicable to the charitable company through discussions with
trustees and other management, and from our commercial knowledge and experience ofthe charity sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the charity, including the Companies Act 2006, taxation legislation
and employment legislation.,
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence., and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there wa5 susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud,. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions., and
assessed whether judgements and assumptions made in determining the accounting estimates were
indicative or potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with relevant regulators.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management and the inspection of regulatory and legal correspondence,
if any.
Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
auditor's report.
Page | 14

The Bond Board Limited
Company Limited by Guarantee
Independent Auditors, Report
For the year ended 31 March 2024
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charitable company and the members as a body, for our audit work, for this report, or for the opinion
we have formed.
Alison Cornes FCA (Senior Statutory Auditor)
For and on behalf of Barlow Andrews LLP
Chartered Accountants and Statutory Auditors
Carlyle House, 78 Chorley New Road. Bolton
Date: 20 November 2024
Page | 15

The Bond Board Limited
Company Limited by Guarantee
statement of Financial Activities
{incorporating Income and Expenditure Account)
As at 31 March 2024
Note
Unrestricted Designated Restricted
funds
funds
funds
Total
2024
Total
2023
Income from
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
4,118
105,210
115,607
12,613
3,654
4,118
1,158,428
115,607
12,613
3,654
849
1,069,012
116,449
7,032
24,130
1,053,218
Total income
241,202
1,053,218
1,294,420
1,217,472
Expenditure on
Charitable activities
169,741
1,164,667
1,334,408
1,351,086
Total expenditure
169,741
1,164,667
1,334,408
1,351,086
Net income l(expenditure)
71,461
(111,449)
(39,9881 1133,614)
Transfers be￿een funds
16
(110,000)
110,000
Net movement in funds
{38,539)
110,000
(111,449)
(39,9881 1133,614}
Funds brought forward
16
89,082
300,000
524,306
913,388
1,047,002
Funds carried fonvard
16
50,543
410,000
412,857
873,400
913,388
All incoming resources and resources expended derive from continuing activities.
All gains and losses recognised in the year are included above.
Page | 16

The Bond Board Limited
Company Limited by Guarantee
Statement of Financial Position
Year ended 31 March 2024
Note
2024
2023
Fixed Assets
Intangible assets
Tangible assets
44,894
1,749
67,339
2,821
12
46,643
70,160
Current assets
Debtors
Cash at bank and in hand
13
342,156
611,674
360,719
648,617
953,830
1,oog,336
Creditors: amounts falling
due within one year
14
{127,073)
(166,108)
Net current assets
826,757
843,228
Net assets & funds
16
873,400
913,388
These financial statements have been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
These financial statements were approved by the board of trustees on 20 November 2024 and signed and
authorised for issue on its behalf by-
A Underdown (Treasurer)
Trustee
Page | 17

The Bond Board Limited
Company Limited by Guarantee
Statement of Cash Flow
Year ended 31 March 2024
2024
2023
Cash flows from operating activities:
Net incomellexpenditure) for year
Investment income
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
(Increase)/decrease in debtors
Increasel(decrease) in creditors
(39,988)
(12,613)
22,445
1,072
18,563
(39,0351
(133,614)
17,032)
9,243
1,764
(35,6011
63,852
Net cash provided by (used in) operating activities
149,556)
1101,388}
Cash flows from investing activities:
Income from investments
Payments to acquire intangible fixed assets
Payments to acquire tangible fixed assets
12.613
7,032
(43,421)
(3,216)
Net cash flow from investing activities
12,613
(39,6051
Increaselldecrease) in cash and cash equivalents
(36,943)
(140,993)
Cash and cash equivalents brought for4vard
648,617
789,610
Cash and cash equivalents carried forward
611,674
648,617
Cash and cash equivalents consist of:
Cash at bank and in hand
611,674
648,617
611,674
648,617
Pagel 18

The Bond Board Limited
Company Limsted by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Accounting policies
General information and basis of preparation
The charity is a company limited by guarantee. The address of the registered office is given in the charity
information on page 1 of these financial statements.
The members of the company are the trustees. Every member of the company undertakes to contribute
to the assets of the company, in the event of it being wound up during the time that helshelit is a member,
or within one year afterwards, for the payments of the debts and liabilities of the company, contracted
before the time at which helshelit ceased to be a member, and of the costs, charges and expenses of
winding up the same, and for the adjustments of the rights of the contributors among themselves such
amount as may be required, not exceeding one pound.
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have
been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1
January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and republic of Ireland,, the Charities Act 2011 and the Companies Act 2006. The financial statements
have been prepared under the historical cost convention, and in sterling which is the functional currency
of the charity.
Going concern
The trustees have considered the level of funds held and the expected level of income and expenditure
for a period of twelve months from authorising these financial statements. The level of reserves is
sufficient, given the budgeted levels of income and expenditure. for the charity to be able to continue as
a going concern and that no material uncertainties exist.
Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is
considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets
the definition of a charitable company for UK corporation tax purposes.
Fund accounting
General funds are unrestricted funds, which are available for use at the discretion of the trustees in
furtherance of the purposes of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds, which have been set aside by the trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted fund
is set out in the notes to the financial statements.
Pagel 19

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Accounting policies (continued)
Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised
when the charity has entitlement to the funds, any performance conditions attached to the grants have
been met, it is probable that the income will be received and the amount can be measured reliably and is
not deferred.
Income received in advance of a specified service is deferred until the criteria for income recognition are
met.
When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such
income, the income is deferred and not included in incoming resources until the preconditions for use
have been met.
When donors specify that donations and grants, including capital grants, are for a particular restricted
purpose, this income is included in incoming resources of restricted funds when receivable.
Agent income and commissions are recognised over the period of the tenancy. Income that is invoiced in
advance or arrears is apportioned so that only that relating to the period of the financial statements is
included within income.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably
by the charity- this is normally upon notification of the interest paid or payable by the Bank.
Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party,
it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs relating to a category. Where costs cannot be attributed to particular headings, they
have been allocated to activities on a basis consistent with the use of resources.
The cost of short-term employee benefits are recognised as a liability and an expense. The cost of any
unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
staff costs, including pension costs, and overhead expenses, including depreciation and amortisation,
are allocated to activities either directly when identifiable or on the basis of staff time spent on those
activities.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include the audit fees and costs linked to the strategic management of
the charity.
Allocation and apportionment of costs
Support costs that cannot be directly attributed to a specific activity are apportioned across all relevant
activities on the basis of staff time spent on each activity.
Page | 20

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Accounting policies (continued}
Intangible assets
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated
amortisation and impairment losses. The costs relate to developing the charity's website.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows..
Website
3 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual
value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Expenditure is only capitalised where it meets the definition of capital expenditure and when it is deemed
to be of material value.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation. Cost includes costs directly attributable to making the asset capable of operating as
intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over
the useful economic life of that asset as follows..
Office furniture and equipment
Computer equipment
25 % straight line
33 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount
being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount,
the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each
reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an
individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the
asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset
and generates cash inflows that largely independent of the cash inflows from other assets or groups of
assets.
Financial Instruments
Concessionary loans
The charity meets the definition ofa Public Benefit Entity ("PBE") and applies the measurement provisions
of FRS 102 paragraphs PBE34.89-PBE34.97 to all its concessionary loans.
other financial Instruments
The charity has adopted Sections 11 and 12 of FRS 102 in respect of financial instruments that are not
concessionary loans.
Page | 21

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Accounting policies (continued)
Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances are initially
recognised at transaction price, unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of
each reporting period financial assets measured at amortised cost are assessed for objective evidence
of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount
and the present value of the estimated cash flows discounted at the asset's original effective interest rate.
The impairment loss is recognised in income or expenditure.
If there is decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been had the impairment not previously been recognised.
The impairment reversal is recognised in income or expenditure.
Financial assets are derecognised when (al the contractual rights to the cash flows from the asset expire
or are settled, or Ib) substantially all the risks and rewards of the ownership of the asset are transferred
to another party or (c) despite having retained some significant risks and rewards of ownership, control of
the asset has been transferred to another party who has the practical ability to unilaterally sell the asset
to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price,
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the
present value of the future receipts discounted at a market rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course
of business from suppliers. Accounts payable are classified as current liabilities if payment is due within
one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised
initially at transaction price and subsequently measured at amortised cost using the effective interest.
Leases
Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis
over the period of the lease.
Pension Costs and other Post-Retirement Benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the
haritable company's pension scheme are charged to the Statement of Financial Activities in the period
to which they relate.
Page | 22

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Accounting policies (continued)
Critical Accounting Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only
that period, or in the period of the revision and future periods where the revision affects both current and
future periods.
The trustees do not believe that there are any estimates and assumptions which have a significant risk of
causing a material adjustment to the carrying value of assets and liabilities.
Donations and legacies
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Donations
4,118
4,118
849
4,118
4,118
84g
In the prior year, income from donations and legacies was £349 attributable to unrestricted and £500
attributable to restricted funds.
Income from charitable activities
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Unrestricted Council & Other grants
Ex Offenders
Housing First
RTOF
Leather Sellers
Post Code Lottery
Rochdale Council Adult Care
Rochdale Council Innovation Fund
Rochdale Council
Rochdale Rough Sleepers
Family Leasing Scheme
105,210
105,210
140,000
201,164
120,000
27,000
234,586
156,764
12,500
17,224
75,037
26,522
171,200
228,179
140,000
201,164
78,300
37,258
165,624
90,872
340,000
78,300
37,258
165,624
90,872
340,000
105,210
1,053,218
1,158,428
1,069,012
In the prior year, income from charitable activities was £120,000 attributable to unrestricted and £949,012
attributable to restricted funds.
Page | 23

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Income from other trading activities
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Agent Income & Commissions
115,607
115,607
116,449
115,607
115,607
116,449
In the prior year, income from other trading activities was attributable to unrestricted funds.
Income from investments
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Bank Interest Receivable
12,613
12,613
7,032
12,613
12,613
7,032
In the prior year, income from investment was attributable to unrestricted funds.
Other income
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Other Income
3,654
3,654
24,130
3,654
3,654
24,130
In the prior year, other income was £7,361 attributable to unrestricted and £16,769 attributable to
restricted funds.
Page | 24

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Expenditure on charitable activities
Total
2024
Total
2023
Direct
Supplies & Services
Staff training & support
Staff Wages
Recruitment
Travel & Subsistence
Legal & professional
Telecommunication & IT
318,600
5,832
663,818
28
20,025
11,467
32,424
324,526
7,534
718,443
7,335
17,037
12,615
20,012
1,052.194
1,107,502
Support
Premises costs
General Office costs
Admin Staff Wages
Telecommunication & IT
Legal & professional
AmortisationlDepreciation
Auditor Fees
Governance
56,059
4,019
157,154
13,054
13,932
23.517
13,500
979
49,384
3,967
144,225
5,629
19,907
11,007
9,000
465
282,214
243,584
Totals
1,334,408
1,351,086
In the prior year, expenditure on charitable activities was £333,764 attributable to unrestricted and
£1,017,322 attributable to restricted funds. Total governance costs. included within expenditure on
charitable activities, amounts to £20,479 (2023.. £18,465).
Total expenditure categorised by type of charitable activities
2024
2023
Charitable activity
Access to Housing & Homeless Protection
Supporting Tenants to Sustain a Tenancy
Ethical Letting - Tradelother
Improving Property Standards
310,306
608,412
396,674
19,016
240,190
607,601
351,194
152,101
4,334,408
1,351,086
Page125

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Expendlture on charitable activities (continued)
Basis of allocation
All support costs are allocated to activities by the number of staff hours charged to each activity.
Access To Housing and Homeless Prevention
Bolton and Rochdale Bond Schemes enabling access to private rented accommodation by providing
those at risk or who are homeless with paper guarantees to replace the need for cash deposits.
Tenancy Advocacy Services in Rochdale, Wigan, Oldham and Bolton an early intervention service for
private tenants at risk of homelessness
that provides mediation between tenant and landlord, with
guidance on their legal rights and responsibilities.
Housing First Accommodation Project
securing properties to enable people on the housing first
programme to access the private rented accommodation in Greater Manchester.
Supporting Tenants to Sustain a 'Tenancy'
Making the Link- a community based floating support service providing tenancy related support for people
moving into or experiencing difficulties in managing a private tenancy in Rochdale. Greater Manchester
Housing First Support in partnership with a number of Greater Manchester registered housing providers
this is a service that provides intensive, flexible, person-centre support for homeless people with multiple
and complex needs along with offers of their own accommodation in the private rented sector or social
housing providers.
Homeless Advice and Resilience Projects a service that provides intensive support to private renting
tenants in crisis including access to welfare rights specialist. This project is also co-produced with tenants
on how to build their resilience and build on tenants, strengths.
Quids in
providing financial education, assistance with housing options along with opportunities to
overcome loneliness for private rented tenants, in an informal coffee morning style setting.
Asylum and Resettling Project- support for households that have been given leave to remain in Rochdale
borough to access housing and to integrate it the community.
Ethical Letting Out
Letting Out- this is an ethical letting agency that provides a comprehensive housing management service
to landlords for a fee, to provide an affordable housing solution for people. It includes a sharing scheme
for young people and for those that do not wish to live on their own.
Improving Property Standards
Letting Out getting empty properties back in use by working in partnership with Rochdale Council and
local trades firms, in order to increase the number of affordable properties available to rent for homeless
households. Once the properties are brought up to standard they are leased or managed by The Bond
Board on behalf of the owner until we have recovered our costs for the improvement works.
Page | 26

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Net incomel{expenditure) for the year
2024
2023
Net incomel(expenditure) is stated after chargingl(crediting):
Amorlisation of intangible assets
Depreciation of tangible fixed assets
Operating lease charges
22,445
1,072
30,920
9,243
1,764
20,613
Fees payable to the charity's auditor:
Audit of the charity's annual accounts
13,500
9,000
staff costs
2024
2023
Wages and salaries
Social security costs
Pension costs
726,439
66,085
28,448
770,951
62,661
29,056
820,972
862,668
Pension costs relates to payments made to a defined contribution scheme.
The average head count of employees during the year is analysed as follows..
2024
2023
No.
No.
Number of staff
29
28
No employee received employee benefits of more than £60,000 during the year (2023.. none}
Key Management Personnel
The charity considers that its key staff are the Chief Executive Officer and four service managers.. the
Tenants Services Manager,. the Board Development Manager., the Business Development Manager and
Changing Futures Team Leader. The total amount paid in respect of key staff during the year, including
pension contributions and employer's national insurance contributions, was £203,914 (2023.. £211,613}.
10
Trustees, remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by
the trustees in either this year or the previous year. Nor were any expenses reimbursed to the trustees in
either this year or the previous year.
Page | 27

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
11
Intangible assets
Website
Cost
Brought forward
Additions
102,208
At 31 March 2024
102,208
Amortisation
Brought fotward
Charge for year
34,869
22,445
At 31 March 2024
57,314
Net book value
At 31 March 2024
44,894
At 31 March 2023
67,339
12
Tangible fixed assets
Fixtures,
Furniture &
Equipment
Totals
Cost
Brought forward
Additions
36,726
36,726
At 31 March 2024
36,726
36,726
Depreciation
Brought forward
Charge for year
33,905
1,072
33,905
1,072
At 31 March 2024
34,977
34,977
Net book value
At 31 March 2024
1,749
1,749
At 31 March 2023
2,821
2,821
Page | 28

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
13
Debtors
2024
2023
Trade debtors
Other debtors
Social Investment Concessional loan
Prepayments and accrued income
107,428
2,938
95,899
135,891
32,499
4,836
15,396
307,988
342,156
360,719
Social Investment Concessional Loan are interest fee loans provided by the Charity to landlords and
tenants to aid property development hence speeding up the process of lettings. These loans are repaid
via deductions from guaranteed rentals receivable on those properties in future years.
Prepayments and accrued income include £57,439 (2023.. £285,698) of income which the charity has
been notified of but not yet received. £54,063 {2023-. £220,944) of this income is for a restricted purpose.
14
Creditors: amounts falling due within one year
2024
2023
Trade creditors
other creditors
Social security and other taxes
Accruals and deferred Income
2,302
5,583
15,480
103,708
36,606
4,966
17,045
107,491
127,073
166,108
The charity holds £29,395 (2023.. £21,461) in client money bank accounts. The balance does not belong
to the charity and therefore has not been included in the financial statements.
15
Deferred income
2024
2023
Brought forward
Amount released to income
Amount deferred in year
20,458
{20,458)
80,000
20,458
80,000
20,458
Deferred income released related to charitable income received in advance.
Page | 29

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
16
Funds
Balance at 1
April 2023
Incomg
Expenditure
Transfers
Gainsl
Losses
Balance at
31 March
2024
Unrestricted funds
Designated funds
89,082
300,000
241,202
{169,7411
1110,0001
110,000
50,543
410,000
389,082
241,202
1169,741)
460,543
Reslricled funds
Greater Manchester
Probation Trust
Tenancy Advocacy
Comic Relief
Real Change
Nationwide Building Society
Duchy of Lancaster
Arnold Clark Community
Fund lQuids-In Expsl
Action Together- Sport
England - Move More
Action Together- Winter
Food Fund
Action Together- Winter
Warm Packs
Changing Futures
Manchester Guardian
Society Charitable Trust
Asda - Cost of Living Grant
The Henry Smith Charity
Housing First
Ex Offenders
Early Break
RTOF
Rough Sleepers (Capilall
Rough Sleepers (Revenue}
RBC - Other
RBC - Innovation fund-
Financial Inclusion
R8C - Innovation fund -
Quids-ln
RBC - Complex Needs
RBC- PRS development
RBC- Adult Care
RBC- Covid
Poslcode lollery
Family Leasing Scheme
9,200
4.955
12,886
251
11.875
3,156
9,200
14,9551
12.886
251
7.190
14,6851
13.1581
11501
150
3,181
13,1811
2,238
{2,2381
166
11661
{40,0871
11,0001
11,0001
135.8501
{201.1641
{186.3491
11311
175,7191
114,6811
185,8611
19,5691
121,5691
65,402
1,000
1,000
67,029
4,700
30,015
31.179
201,184
140,000
46.349
131
75,719
182.742
168,061
5,011
90,872
9,569
2,132
19.437
17,821
40,924
120,000
78,300
117,8211
(42,3581
1125,000}
{78,300}
11,5171
{17,2241
1190.9361
1,434
5,000
1,517
17,224
340,000
149,064
524,306
1,053,218
{1,164.6671
412.857
913,38B
1.294.420
11,334,408)
873,400
Page | 30

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
16
Funds (continued}
Net Assets analysed as:
Unrestricted
funds
Designated
funds
Restricted
funds
Total
2024
Intsngible assets
Tangible fixed assets
Current assets
Current liabilities
44,894
1,749
49,845
(45,945)
44,894
1,749
953,830
(127,073)
410,000
4g3,985
(81,128)
50,543
410,000
412,857
873,400
Designated funds
Unrestricted funds designated as follows
2024
2023
Reserves fund
Bond Commitment fund
330,000
80.000
220,000
80,000
410.000
300.000
Reserves fund
This fund aims lo cover three months, running costs to allow the service lo seek allernalive funding and lo meet its contractual
obligations to landlords and staff should they be made redundant and wind up the services in an orderly way. The fund needs to be
at £330,000 in order for the criteria to be fulfilled.
Bond Commltmentfund
This fund is lo cover bond commitments held by the organisalion in Bolton. This fund was previously combined with the reserves
fund, however, for clarity, il was deemed appropriate to show il as a separate fund.
Restricted funds
As disclosed above. the charity receives restricted income lo carry out various projects. Details of reslricled projects for the current
year are as follows..
Greater Manchester Probatlon Trust
This is a contract lo assist in the development of a bond guarantee scheme lo enable people to move from approved premises. The
Bond Board are holding these funds for their bond pol.
Tenancy Advocacy
This is funding from Rochdale Council lo provide housing advice to prevent and reduce homelessness for those who receive an
eviction notice from prwale18ndlords.
Comic Relief sustainability fund
This funding was lo support the development of The Bond Board's services lo enable them and the organisalion lo become more
resilient and sustainable. Commitments were made lo deliver this work, however the timeline for delivery was adjusted due lo the
pandemic of 2020 and 2021.
Rgal Change
These are funds that have been raised locally that The Bond Board, in partnership with other charities in Rochdale. 8dminislers lo
SUPPDrt people living in the Rochdale community lo access small amounts of money that can enable them lo overcome barriers lo
housing, training or work.
Nationwide Building Society
This grant funding was lo deliver a project lo explore and deliver longer term more secure tenancies to people who access our
services. This was lo offer longer term tenancies to lenanls. The evaluation of this project was delayed in order to measure the
impact of the tenants of longer-lerm tenancies. The remaining funds are lo cover bond guarantees that were commilled as part of
this project.
Page | 31

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
16
Funds (continued}
Restricted funds (continued)
Duchy of Lancaster
This was a one-oft grant lo fund emergency food provision for lenanls.
Arnold Clark Community Fund
A one-off contribution lo assist the activities of the Bond Board's coffee morning a support drop-in for private renting tenants.
Action Together- Sport England Move More
A grant lo fund activities lo encourage our beneficiaries to move more, il funded a number of events and outings lo encourage
movement. E.g., Kayaking
Action Togelher- Winter Warm Packs
A grant lo enable us lo provide warm packs. gloves. blankets, hol water bottles elc lo our beneficiaries struggling with energy bill5.
Changing Futures
This is a contract to support people with complex needs to over-come barriers facing homeless people. In partnerships with three
other charities and Rochdale Council.
Manchester Guardlan Charitable Trust
A grant to provide lo support households in crisis in Rochdale at our coffee mornings.
ASDA Cost of Living Grant
A grant to provide emergency lo support households in crisis in Rochdale al our coffee mornings.
Henery Smith Charity
This is the first year of a Ihree-year grant to fund a tenancy advocacy servi￿, to prevent homolessness where possible when
households are threatened with eviction or are living with disrepair.
Housing First
A ¢onlracl lo deliver in partnership across Greater Manchester support to rough sleepers into their own accommodation. This project
is part of national pilot exploring a different way lo address the issues facing people that sleep rough.
Accommodatlon For Ex offenders
This is a project lo secure homes and support for ex-offenders who have left prison in the last 12 months in the private rented se¢lor
in Bolton, Bury and Rochdale.
Early Break
Personali5alion pol for clients are part Greater Manchester Housing First programme supported by Early Break
Refugee Transition Outcome Fund IRTOFI
This is a contract with Rochdale Council lo provide support lo people who have received a leave lo remain decision from the Home
Office, lo se¢ure and maintain, a home as well as helping them access education training and employment.
Rough Sleepers Project- Capltal
To fund the conversion of commercial or empty properties into 16 one bed units to rehouse rough sleepers in partnership with
landlords and Rochdale council by 31, March 2024. Lelling Out will manage these properties with 5-year agreements.
During the year. £76,557 was prepaid in respect of amounts paid in advance, which will be released over the nexl thre8 years.
Rough Sleepers Project- Revenue
To deliver reselllemenl support and help the peoplè that are housed in the 16 one bed units lo bulld resilience lo enable them to
move on from the rough sleeper's project after two years.
Page | 32

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
16
Funds {continued)
Restricted funds {continued)
Rochdale Council Adult Care Prlvate rented floating Support Contract
This is a four-year contract lo provide short term support to people living in the private rented sector in Rochdale, up lo maximum
of three months lo prevent tenancies failing and people becoming homeless.
Rochdale Council Innovation Fund - Financial Inclusion
This is a one-year grant to fund a part lime financial inclusion worker lo support the people who attend the coffee mornings who 8re
in crisis and have complex issues that they need help with. This post also helps people maximise their incomes.
Rochdale Councll Innovation Fund - Quids-ln
This funds a part time worker to organise and facililale a fortnightly drop-in coffee morning -"Quids-in° The alm of the Quid-in is lo
provide informal peer support as well as access lo advice and learning from visillng specialist providers of advice and training.
Quids-in also helps to overcome issues of isolation and loneliness.
Rochdale Council Complex Needs Navigator
This grant funding is to overcome Servi￿ barriers for entrenched rough sleepers and more complex homeless cases lo help services
address the issues and overcome the barriers these people facè.
Private Rented Sector Access
This is a grant from Rochdale Council lo support the Bond Board lo increase the a¢￿$S lo the private rented sector through the
development of leasing, bring empty properties back in lo use, and increasing the number of properties manged by our lelling
agency to increase the number properties available to house homeless pèople.
Rochdale Council - prevention pot
This was funding lo support households that were experiencing challenges caused by the impact of Covid-19 and the various
reslriclions, the underspend. in agreement with Rochdale Council, is being used lo overcome barriers that a homeless may face lo
access accommodation.
Rochdale Council
This is grant for 12 months to match fund the post code lottery funding for a trainee post to deliver support to people living in the
private rented sector facing financial hardship, assisting them lo budget and where possible to maximise their incomes loo.
Post Code Lottery
A one-year grant lo fund a trainee post lo delThier support lo people living in the private rented sector facing financial hardship.
assisting them lo budget and where possible lo maximise their incomes too.
Page | 33

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
17
Prior year funds analysis
Balance at 1
April 2022
Income
Expenditure
Transfers
Gains I
Losses
Balance at
31 March
2023
Unreslricled funds
Designated funds
190,119
300.000
251,191
1333,7641
{18,4641
89,082
300,000
490.119
251,191
1333,7641
118,4641
389,082
es
ricled funds
Gfealer Manchester
Probation Trust
Tenancy Advocacy
Comic Relief
Real Change
Nationwide Building Society
Duchy of Lancaster
Arnold Clark Community
Fund lQuids-In Expsl
Action Together- Sport
England - Move More
Action Together- Winter
Food Fund
Action Together- Food
Transition Grant
Action Together- Winter
Warm Packs
RBC - Changing Futures
Manchester Guardian
Society Charitable Trust
Asda - Cost of Living Grant
Tesco Community Fund
The Henry Smith Charity
Leather sellers (Volunteer
Jubilee Fundl
Housing First
Ex Offenders
Early Break
RTOF
Rough Sleepers (Capilall
Rough Sleepers (Revenue)
RBC - Innovation fund
Financial Inclusion
RBC- Other
RBC - Innovation fund -
Quids-ln
RBC - Complex Needs
RBC - PRS development
R8C- Adult Care
RBC- Covid
Poslcode lollery
9,200
34,312
12,886
251
15,225
2,000
9,200
4,955
12,886
261
11,875
3,156
(29,357)
13.3501
12,8441
{8501
4,000
150
1,000
4,818
11,6371
3.181
4,152
11,9141
2.238
300
13001
499
13331
{65,5031
166
95,252
35,653
1,000
1,000
soo
65,402
1,000
1,000
15001
136,2711
112,5001
1251,3481
166,4411
{1,571}
181,0451
1152,1011
{40.3331
{14.8211
103.300
67,029
12,500
232,884
27.000
1.702
156,764
187.846
40,333
16,953
9,569
15,547
18,464
85,790
46.349
131
75,719
182,742
146,997
2,132
9,569
115,5471
141,8411
1120,0001
175,0371
11,8781
43,275
5,000
1,434
5.000
120,000
75,037
3,395
1.517
17.224
17.224
556,883
966.281
11,017,322)
18,464
524,306
1,047,002
1,217,472
11,351,086)
913,388
Page | 34

The Bond Board Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
17
Prior year funds analysls (continued)
Net Assets analysed as:
Unrestrlcted
funds
Deslgnated
funds
Restricted
funds
Total
2023
I ntangible assets
Tangible fixed assets
Current assets
Current liabilities
40,134
2,821
78,153
(32,026}
27,205
67,339
2,821
1,009,336
1166,108)
300,000
631,183
(134,082)
89,082
300,000
524,306
913,388
18
Funds held as Agent
Other creditors relate to funds whereby the charity acts as agent for certain clients. Within the year the
charity received £3,790 {2023'. £15,693} and purchased goods of £7,628 (2023.. £13,391), holding a
balance at the end of the year of £1.128 (2023.. £4,966} on behalf of these clients.
The client does not participate in any of the decisions relating to these transactions and therefore the
income and expenses are not included in the SOFA.
19
Contingent liability
At the year end, the charity had commitments to landlords, under bonds, totalling £67,098 (2023..
£58,475), which could become payable in the event of default by the tenants for whom the bonds have
been issued.
20
Operating lease commitments
Total future minimum lease payments are as follows..
Land &
Buildings
Other
Total
2024
Total
2023
Within one year
Within to five years
Over 5 years
49,880
128,866
49,880
128,866
30,920
83,946
178,746
178,746
114,866
21
Related party transactions
There were no related party transactions during the current or prior year.
Page | 35