Registered Company No. 2846784 R¢gist¢rcd Charity No. 1040208 Haven Tyneside Ltd (by guaranttt) Financial Statements for the year ended 31 March 2024 Haven Tyneside Ltd (by guarantee) Financial Statements for the year ended 31 March 2024 Contents Pa8e gal and Administrative Inforniation TrnS￿S, Annual Report Statement of Financial Activity Balance Sheet Cash Flow Stat¢mMt GeneTrl Income and Expenditure Account 10 Notes 12 Independent Auditols Re￿rt 18 Haven Tyneside Ltd (by guarantee) Legal Ydnd Administrative Information Company Number 2846784 Charity Number 1040208 Tn￿¢¢oDlre¢tOT5 I Mackintosh N Shukla M Ferguson PJRice S Cannell R Hewitson S E Tmcman M Sidney Secretary R Hewitson Registered Offic¢ I l Regent Terrace *eshead Tvne and Wear NE8 ILU Bankers B￿lavS Bank plc Ptsce DHI 3ND Auditors Azets Audit Servi¢xs Buhnan House Regent Centre Henry Street Newcastle upon Tvn¢ NE3 3LS Haven Tyneside Ltd (by guarantee) Trustees, Annual Report (Incorporating the Directors, Report) for the year ended 31 March 2024 Admini$tra¢iv¢ information Charitable obJecth>¢$ Haven Tyne5ide Ltd is governed by its Memornndwo and Arlicl&s of A&socIatio￿ These stats that the compny's niain obj%%tive is to &q8iSt ￿0Th8 identified as having housing S￿la1 nLrds as defin&l by Housing Awciation Legislation. Policies to ￿rther our obJertiveJ Haven T}neside Ltd provides tanporary accommodation to ￿Ople with 4￿181 howing neal4 assisting ￿sidents}n acquiiing aThl dev¢loping lili1￿ slalls and a&islingthem to move on to ind¢po]dent accommodatio The ch￿ity'S aitns and obJ'eLtiF&8 are set in the b￿11￿$ plan and the Strate￿¢S for achievin8 these Obi￿tIVesare road mapF*lin a fivfryear sts8tegi¢ plan. Changes In poRlcles There have E*en no changes in Folici&s. IJe5crip¢ioTh of th¢ orgauisation The compatly IB ]imited by guarante4 not baTiDg a sbarecapitaL In th¢evatt of a windin8 UP the liabllity of ¢achn￿nI￿r is Jimitsl to an￿n￿U￿1 not exceeding £1. The ¢ompally is by a Board of DIreth￿ who act as truths of the charity. The dircctord 5erYvJ during the year were as folloNv3: I Mackintosh N Sh￿kIa PJRice R HCwiI￿tt S E'Iruk￿￿ll S Conllell M Sidw- App)intsJ 18.04.2023 The directors¥￿ wple c&n make a valuable contiibution to the stsategy and management of Haven TY￿sE{￿ Ltd. However, the day4¢￿I&V rnarkggem￿t is delegabl to the Chief Officer. B Wats(In. Public beneffit The (who are also the directors of Haven Tyneside Ltd forthe of compw law) confjnn that they have ornp]ied withthe tequiraLwth to have regardto the gUIda￿e on public benefit i&8ual by the Cknity Conm]i&8ion in exe￿is1￿8 t￿F￿was a￿] duties in rejationto the activities of thecFthrity thry the year. Haven Tyneside Ltd (by guarantee) Trustees, Annu&l Report (Incorporating the Directors, Report) for the year ended 31 March 2024 (continued) Crlterfa and me&4ures used to measure sucws The annual critsria are set out in the Local Authority tents Contracts. The Commissioning iM)dies pafonn quarterly alln￿&1 ￿vIewS and annual audits to ensure standards are and wuittd Fafornwice indicators are achieved. The Home Gro￿ rally out additional chth onthe pYo￿tieS manw on their bdmlf as of the ptsship anangement. The ¢hty internally monitor F*forn]rte on a qwtttly and amwal b&8x4 re]x)rting ill to the Board. sucC￿s is MCaw￿ by achieving Llld surwing the 8oaJs and aims of Haven also the contracts minimum inth'cators. Summ4ry of 4ehlev¢men¢$ Achieving the contracls minimum wforn]8xe and aimin8 to exceal these standard8. R￿ll¢Illg homelessne&8 in Gat&￿d Newca&le aud to bre¥kthe cycle of homelesslle&8. Reductng TKsvety for its residents by maxinM&ng their Inu)m￿Lts aThl equipping tknn withmoney bandlmg and budgding skills. Supporting and assistsng residents in ￿CurIng tsaining. voiulltary p]acall¢nts, edll¢atioo apwenti¢&bips Alld or fi)ll.iame anplo)YDent Employment poll&7 Empioyeg salaries are b85ed onthe National Joint Council py ful Risk management The tnth have set up a risk registsr and monitor risks with a colour coded sdKne of gr¢aL anther alld￿l and take the aM)Towiate 8Glion lleed￿. Atthe momentwe believe there ate no m?jora￿S of concenL As risks from coronavirus have subsida other pokntial risks haveari8ensucha8 the cost of liviJg ¢risig and IiSiD8 ena8y pri¢e& However, Havql have put in p]ace policies to deal with these issue . Th¢ at Haven aff in a p)sition th they can ¢overfor ea¢h other in the event of iL]ne&% In an extrejne e4n￿gencY a8ency statrwith the relevant ex￿lenCe Would be brought A dth'ial manval h&s E*en pr(Kluced which would enable som&)ne to caTry Outthe fllwicial duiies if need b& Atthis momort of timeHaven lEsid￿ts arereceiviDg full R¢s¢rye5 policy The reseThes ofthe company in a healthy wjsition atyl are mailltai￿ at a level ill order to ensure the ¢onlinuedTWmi ofthe company should the grants reduced or ceas&J for up to five years. Three huntredthowand has been eatmark for the pw¢ha8e of three two bethoomed fiat& The Ios8 of the Gateshead contract 60kw annum also hqve an Impact on res¢rv¢& Hav¢u is ¢onlinu8lly looSillg at areas to give T¢sidents axtsa wpt Trustee4' responsibilltlei The tnts (wtho ate also the d1￿clOTh of Haven TY￿sIde Ltd for the [All￿seS Com￿nY law) are resy>nsible for pre￿) the Tnkn, Report andthe fuwicial statenmts in accord&tt withappjirable law and UK Acwuntu]g Standat(ts (UK G(wally AcceptedAccounting Ptactice). Company 1awrequi￿ the tn]st¢es to prepare fitiwial slat¢m¢nts for each fmanciai year that give & tsue and fair view ofthe state of affairs of the charitable company and of the in¢oming rewur¢4s and a￿lICation of resources, inclu(ling the income and exFnditure of the charitsble cotllpally for thatpaiod. select suitsble a¢countin8 policies, and then apply than consistaty" ObS￿Ve the methods and win¢iples io the Clwiti¢s SORP 2019 (FRS 102k J￿¢ll¢￿ts aud ¢slimates that ar¢ rea￿ble aTrJ wud state whether UK applicable accounling th]dards have t*en follo1￿1 sufy'ectto any material de￿ dTsclos•J and explainvj in the financial statanents" Prep￿ the fwn¢iAi statements on the going concernknis unle58 it 18 inapprowiatsto preswne that the cbaritable ¢ompany will continue in op￿￿10 Haven Tyneside Ltd (by guarantee) Trustees, Annual Report (Ineorporating the Directors, Report) for the year ended 31 March 2024 (continued) The In¥*¢￿ are reSpY)￿ble for keepitig adeqvate a￿0￿]￿8 records thaÈ disclose ￿￿reaSo￿&ble accuracy at aDy timethe ruwlciai Frf)s1ti4￿ of the charitable company aThl ￿able them to that the fll]ancial Comply with the compaul￿ Art 2(M)6. They are 8lsv resp)nsibk for safeguarding the &*ets of the cb*itable company and fortabng reag)nable •s for the Wev￿110￿ and detectioll of fraud i)ther I￿egU￿.tics. Revknv of Flnanc E4)laDation of the Statsment of Trlnandal A¢Éfvltk8 *nd th¢ ipplicatioll of fi￿d5 The Strten￿llt of FimicialActivities swttmarisesthe comtanvs illconK and expe￿11￿ ona fund-by.fimdbasi& General fund Hojjsing Jllcome Charges Receivable wcre higherthan last ￿ due an in¢reas¢ in IKnefit on all [W￿leS and the of 7 woodb]￿ Place in (ktoiv 2023. taspaces genernted an ¢xtsa £40.862 of revenue as follo￿¥. Sunderland Ro￿1 Rothbwy Tar 1238 40.862 Void8 showed a surplus of £25.766 Mall￿y the to anetgency i*d spwes & RothEw TaTrce. Vlhilethe Citywide grant 18 expthdto ￿))81n the same for nextyear the P￿Ie grant cease from Nov42nt*r 1.2024. Housing ￿pendItU Totsl sl8ff costs £395.997 W4ze slightly higk than hstyear £344.430 (￿￿tsking ontwotempsto cover s*8ff vacancies. Management and •dmknistradon The Slonl)am man4antht charge rose thieto an increase in dw8es on all relevant pro￿￿¢$. Use of assets The company owns four ￿oI￿rtIeS in Newc&stle a￿1 one in Gateshead thAt ￿0￿￿t formost of ÉIL¢ lar8e ￿nOUnt of dewialion charg￿. Five years ago the compny replaced its at A eost £25,176, alldthe oklminibus was sY)Id for £9(Q. The remaindff of Ibe comFonYs assets consist of Oir￿e f￿￿￿t￿re aud The Mature of the com￿￿V,$ artiviti& is such that ￿￿1p￿¢￿t for by theresi(knts must I[eq￿It1Y be reP￿red Orrep]￿la[￿IthIS is shown &8 a Futu￿ plang The Newcastle Citywide contst has extended to March 2025 audwe 8r¢Wa￿￿8 to sign a new contract Wh￿ we wee the amount. The Supwting Peoples has been¢xtathlto IStNovanber2024. Hav￿ have laid ground plans for the p￿ch￿ of thr￿ flats in Gateshe&l Haven Tyneside Ltd (by guarantee) Trustees, Annugl Report (Incorporating the Directors, Report) for the year ended 31 March 2024 (continued) Fillallcial dependence The c(xnpally m&nfjg¢s 37 in Newcastle a￿1 19 be(b in Gatthead as of a group led by Stonham HO￿￿g AS￿'lai10ll Ltd alld owns five propylies Myth a total of10 W in its own right Funding is wovid41 by means of C1W￿de Ilomd&%s Contsact a(kninistued bi, Home Group LtsL. Investments The compauy has Lb) investments Oth￿ th8n Its ba]k dep)sits. ReFleiv ofrdation5hip5 wlth other organisitions StODham Housing Assoaation IAmited Resi&titial rnanag￿ on i%ha]f of Stonlwn Housing AS￿latIOn Limite(L Gate5bead Counrll Residential w)kErties are managed on Eelbslf of Gatdshead cow￿11. Northumbrfa Community Rehabilitation Compa￿} Of the available sEwe$ 26 [￿ed for ¢x-offekn refe￿￿ by Nortkumbria Conmiunity Rehabilitation Cthnpwy (fonnerly N(t11)uth Probation Service). Disclosure of inforniation to the auditors W4 the directots of the company who held office at Ihe dth (sf a￿[oval of tha8e Financial StstQDellts confiDn so ￿ as th￿e is rLO Tdevant audii infonnalion ofwbich the compnYsaThlitor3 are una}￿￿, and we have tsken all the steps that ought to have tsken as di￿t￿r$ in OTderto make ourselves awate ofaay rekvaTrt3￿ inforn￿tiaises IlEre £I.(I)7 (2023 £1,087) which was foT t4>&Td m¢etiiy and aCbrislm&g md. Pensions The company n￿keS Gotittibutions to employ￿, F£T50nal p￿SlOn plaDS. The wion cknge Teprewt5 contributions pAid to the illdividuals wginai pension plans dwing the year 31 Match2024 aud at the bakn sheet d&ts th￿¢ were no preF4id oroutstandin8 contribution& 14 Haven Tyneside Ltd (by guarantee) Notes to the Financial Statements for the year ended 31 March 2024 (continued) Tangibk fixed ￿Sets Long leasehold property F￿ebOld prowty Fixtures and equipment Minibus Cost O l-Apr-23 Additions Disposals 366,571 209.229 68.839 12,470 25.176 669.815 12,470 31-Mar-24 366,571 209,229 81.309 25,176 682,285 Depreciation 01-Apr- 23 Charge for year On disposals 215.340 14.926 135.285 8.074 43.676 8,931 23,941 1,235 418242 33.166 31.Mar-24 230.266 143,359 52,607 25,176 451.408 Net book vslue 31-Mar-24 136,305 151.231 65,870 73,944 28,702 25.163 230.877 251,573 31-Mar-23 1,235 Debtors: Amounts falling due within one year 2024 2023 Trade debtors Prepayments and accrned income 42,984 29,922 23,904 25,276 72,906 49,180 Creditors: AD)ounts fallin2 due within one year 2024 2023 Tradc creditors Actnjals and deferred inwme Other t&¥ation and social security 1.299 29.949 10,338 26.790 6.348 43.476 31 48 15 Haven Tyneside Ltd (by guarantee) Notes to the Financial Statements for the year ended 31 March 2024 (continued) Fitiallcial conjmitments At 31 March 2024 the tots] future millimvm paymthts unts noTrcallcdlable owating leaw as follow& Land and Buildings 2024 2023 Expiring.. betw¢¢n two and five y&ars 10. Related party tranyactions There are ￿ relat&1 party tr8nwtions dwin8 the year orth¢ previo￿ year. ii. Analy818 of net assets between the funds 2024 Unrestricted Funds 2024 2023 Unrestricted Funds 2023 Total Tangible fixed assets Net current assets 230.876 230,876 251,573 251,573 1,307,739 1.307,739 1.138,279 1,138.279 1538 615 1538.615 1,389.852 1389,852 12. Funds 1° April 2023 Incomlng Resour￿$ Resources Expended 31" March 2024 Transfers GÈneral unrestricted fund 1,389,852 1,487,500 1,338,737 (300,000) 1,238,615 Desi nated funds Property investment 300,000 300,000 Total unrestrictsd funds 1,389,852 1,487,500 1,338,737 1,538,615 DeSi￿t￿ fimd8 Compri￿ a proFwty investment fimd uthich l)as eannathd forthe pUr¢b￿ olllree two bthoom flats. 16 Haven TynesRde Ltd (by guarantee) Notes to the Flnancial Statements for the year ended 31 March 2024 (continued) Funds- prloryear I" April 2022 Incoming Resources Resources 31" Marth 2023 Expended Transfers General Unrestricted fund 1.260,465 1,282,816 1,153,429 1,389,852 Designated funds Totsl Funds 1,260,465 1,282,816 1,153,429 1,389,852 13. Net debt reconciliation 1° April 2023 Cash Fjows 3 I" March 2024 Cash at bank and at hand 1132 575 133 506 1266 081 Net Cash suq)lus 1132 575 13 17 Haven Tyneside Ltd (by guarantee) Independent Auditors Report for the year ended 31 March 2024 Oplnlon We have audited the finanaal statements of Haven Tyneside Ltd (the 'chaTitsble companv) for the year ended 31 March 2024 which comprise the ststement of financial activities, the balance sheet, cash flow statement, the general income and expenditure account and notes to the financial statements, includrng a summary of signlficant accounting policies. Thefinancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, Including Flnancial Reporting Standard 102 The Finoncial Reporting Standard applicoble in the UKand Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial ststements: give a true and fair view of the state of the charltable company's affairs as at 31 March 2024, and of its incoming resour￿5 and application of resources, Includlng its income and expenditijre, for the year then ended,. have been properly prepared in accordan￿ with Unlted Kingdom Generally Accepted Accounting Practice," and have been prepared in accordan￿ wlth the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Stsndard5 on Auditing IUKI {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilitles for the audit of the financial statements section of our report. We are independent of the tharitable company in accordan￿ with the ethical requirements that are relevant to our audit of thefinancial statements inthe UK, includlngthe FRCS Ethical Standard, and we havefulfilled our other ethical responslbilities in accordance wtth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to 8olng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basls of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material Un￿rtaIntIeS relating to events or conditions that, individually or collectively, may cast slgnlficant doubt on the charitable companVs ability to continue as a going concern for a period of at lea5ttwelve months from when the financial statements are authorised for issue. Our responsibllities and the responsibilitles of the trustees with respect to going concern are described in the relevant sectlons of this report. 18 Haven Tyneside Ltd (by guarantee) Independent Auditors Report for the year ended 31 March 2024 (continued) Other tnforniation The other information comprises the infonnation included in the trustees, annual report, other than the financial statements and our auditorg 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. ex￿pt to the extent othenvise and explicitly sLited in our report. we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other information and, in doiT% so, consider whether the other information is materially inconslstent with the financial statements. or our knowledge obtained in the course of the audit or otherwise appear5 to be materially misstated. If we identify suth material Tnconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in thefinancial statements themselves. If, based onthe work we have performed. we concludethatthere is a material mi55tatement of this other information, we are required to report that fact. We have nothlng to report In thls regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinlon, based on the work undertaken in the course of the audlt: the inforniation glven in the trustees, report (incorporating the directors, report for the purposes of company law) for the financial year for whlth the financlal 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 whlch wè are required to report by exceptlon In the light of our knowledge and understsnding of the charitable company and its environment obtained in the course of the audit, we have not identified matsrial misststements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to whith the Companies Act 2006 require5 115 to report to you if, in our opinion: adequats accounting records have not been kept. or returns adequate for our audit have not been received from branches not Visited by us." or the finanaal statements are not in agreement with the accounting records and returns. or certain disclosures of director5, remuneration specified by law are not made," or we have not re￿iVed all the information and explanations we require for our audlt. or the trustees were not entitled to prepare the financlal ststements In accordance wlth the small companies, regime and take advantage of the small companies, exemptions in preparing the dlrertors report and from the requirements to prepare a strategic ￿pOrt. 19 Haven Tyneside Ltd (by guarantee) Independent Auditors Report for the year ended 31 March 2024 (continued) Responsibilltles of trustees As explained more fully in the trustees, responsibilities ststement, the trustees (who are also the dlrectors of the charitable company for the purposes of company law) are responsible for the preparation of the financial staternents 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 preparatlon of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitsble comPan￿S ability to continue as a going concern, disdosing, as applicable, matters related to golng concern and uslng the going Con￿rn basis of accounting unless the trustees either intend to liquidate the Charitsble company or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audit of the flnanclal ststements Ourobjectives are to obtsin reasonable assurance aboutwhether the financial ststements as a whole a￿ free from material misstatement, whether due to fraud or error, and to Issue an audltorfs report that Includes our opinlon. Reasonable assurance is a high level of assurance but is not a guarantee thatan audit conducted In accordance with ISAS (UK) will alway5 detert a material misststementwhen it exists. Misstatements can arise from fraud or error and are tonsldered materlal if, individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users tsken on the basis of these financial statements. Afurther descriptlon of our responsibilities forthe audlt of the financial statements Is located on the Flnancial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description form5 part of our auditorfs report. Extent to whlch the audit was considered capable of detertlng Irregularfties, includln8 fraud Irregularities, Includlng fraud, are Instan￿ of non-complian￿ with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Flnancial Rep¢)rting Council's website, to detect material misststements in respect of irregularities, includlng fraud. We obtain and update our understandlng of the entity, its activities, its cor*trol environment, and likely future developments, Including In relation tothe legal and regulatory framework applicable and how the entity is complying wlth that framework Based on this under5tandin& we identify and assess the risks of material misstatement of the flnanclal ststements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audlt evidence that15 sufficient and approprlate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. 20 **Haven Tyneside Ltd (by guarantee) Independent Auditors Report for the year ended 31 March 2024 (continued)** In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: - Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; - Reviewing minutes of meetings of those charged with governance; - Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection; - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; - Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the field in which the client operates, we identified the following areas as those most likely to have a material impact on the financial statements; health and safety; employment laws; compliance; safeguarding and compliance with landlord property requirements. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ## **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 work 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 charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ## **Joanne Regan FCA (Senior Statutory Auditor) For and on behalf of Azets Audit Services** **Chartered Accountants 18[th] October 2024** **Statutory Auditor** Bulman House Regent Centre, Henry Street, Newcastle upon Tyne. 21