StPO(K ul's St Paul's Hostel IA company limited by guarantee) Report and Financial Ststements Year ended.. 31 March 2024 Charity no.. 1043921 Company no.. 03009035 'ADLIBK30H• 1510112025 COMPANIES HOUSE #173 (joc ID.. 820da6cAd3054ee18a1463804d4d393fOcfae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Contents Legal and Administrative Information Chair's Report Trustees. Annual Report Independent Auditor's Report li Statement of Financial Activities 14 Balance Sheet 15 Statement of Cash Flows Notes forming part of the financial statements 17 Doc ID.. 820da6cAd3054ee18a1463804d4d393fO¢fae8bb St Paul's Hostel - Annual Report and Financial Statements Yearended 31 March 2024 Legal and admlnlstrative information Company number: 03009035 (England and Walesl Charity number. 1043921 Trustees: D J Morris P A Fowler C Bridges K D Archer M A RothwelL S Cliff F Martin (resigned 25/04/241 D Glover D De Saulles Iresigned 05/12/231 M W Hudson (appointed 22/10/241 Chi•f Ex•cutlv•: Ms E L Burlace Company Secretary & Flnance Manager: D A Collins lappointed 01/10/241 C P Ginty (resigned 01/10/241 Reglstered Offl¢e: Hillborough Tallow Hill Worcester Worcestershire WR5 ID8 Indep•nd•nt Audltors: RD Accounting Limited (Statutory Audilorsl Chartered Certified Accountants 12C Two Locks Hurst Business Park Brierley Hill DYS IUU Bankers: CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ HR Advisor: June MilLs HR Solutions Do¢ ID.. 820da6cAd3054ee18a1463804d4d393fOcfae8bb Sl Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Chair's Report for the year ended 31 March 2024 This year, our 47th year, has flown by a5 we continue our mission of helping people tive through homelessness. We have and continue to work with mainly slngle adults who experience a multitude of challenges. The Hostel has remained fulL often with a long wailing list. It is difficult to have lo turn people away. We had the opening of the front garden In memory of one of our founding Irustees, Robin Sykes. Thank you to everyone that attended the opening. We continued lo deliver a county wlde Housing First seNice working with a cohort of people with complex needs. Our ongoing analysis shows thal Housing Fir51 works. The outlook into 2024 and beyond looks challenging. wilh fundraising becoming more competitive combined with a general downlurn In people making donations, The support of charitable funds and organisation5 such as the National Lottery, remain very important. Central Government funding, especially around Housing First. remains unclear. Funding for Housing First after March 2025 is yel to be approved or indeed may not carry on. The team at St Paul's remain dedicated and hard working in what is sometimes a strèssful environmenL A big thank you lo my fellow Trustees for their work and also a Ihank you to everyone that supports Sl Paul's. Fundraising Although we have been successful in secuilng some multi.year funding. the fundraising Landscape is a challengin9 one, We see the impact of the current economic climate. The number of donor5 and the amounts being donated has redvced and the number of fundraising activities done on our behalf have decreased as has the income generated from such events. That said. we wwe humbled by the response for our Christmas Campaign. For people experlencing homelessness, Chri51mas for most, is not the joyous, family filled occasion often seen depicted in adverts. Chrislmas can be the most challenging and lonetiest lime of the year.11 can also be a trigger of past trauma. Through the generosity of the community, we were able to provide every resident with a gift box and loiletry hamper, themed supper evenings Ihroughout Oecember building social interaction and tNsted relalion5hips, a hearty Chiislmas Luncheon sponsored by local businesses. single bedding sets for new residentsand ample chocolates and treats. We weie successful in securing funding from several granl-givin9 organisations includin9 Core Costs, somethin9 that can be challenging when compared lo a specific project related funding. National Lottery Community Fund, We were delighted to have been successful in securing funding from Ihe National Lottery Community Fund. The grant award of £480,656 over the next S years helps us lo continue to support people who are experiencing homelessness in our communities. Although the funding does not cover all our expected costs. il helps us to secvre essential roles and expand service delivery to enable us to al continue to deliver the trauma informed elements of our work and bl build on the successes to dale and further develop the support and services that enable our beneficiaries to recover. PutAic Health England ar￿ Worcester City Council have both been instrumental in enabling us to continue lo deliver essenllal counselling setvices to our resKlents. Combined. these grants lolalled in excess of £70.000 with £52.000 comlng from the Rough Sl*per Drug & Alcohol Tralnlng granl Garfield Weston Foundation. £25.000 per year for 2 years. 2023-24 sees Ihe final tranche of thi5 Core Cost grant award,. Sanctuary Housing Group - Community Investment Fund. Funding through this programme has supported our Peer Menlor Programme, Doc ID.. 820da6c4d3054ee18a1463804d4d393f0clae8bb St Paul's Hostel- Annual Report and Financial Statements Year ended 31 March 2024 Charlty of the Year. We are graleful for the support we have recelved over the years from our charity partners. These relationships are pivotal in breaking down barriers in the community and raising awareness of homelessness, We are delighted that the BLa¢k Pear Joggers chose Sl Paul's as their chosen charily this year. A local group of enthusiastic runners who, over the year raised over £￿00 for St Paul's. Tho xlt Big W9￿9$tOr Qu12 24lh May This event was developed as a precursor to the Blg Worcester Sleep Out with all funds raised contribuling to the overall fundraising target, The event enabled us to engage with supporters of the Sleep Out as well as give others who may not feel able to sleep out, the opportunity to be part of the wider aim and raising awareness of the issues surrounding homelessness with a wider audience. The evenl wa5 hosted at The Alma Inn, Worcester with all 60 tlcket5 being 501d out. The event was well attended wlth representallon from all the charities and their beneficiaries. along with local businesses and other supporters. The evenlng raised over £450, and we look forward to bulldlng this event into our annual events calendar. Big Worcester Sleep Out 13ih October For the first time, this year's event was held al a new venue. that being Worcestershire County Cricket Ground, The challenges we have experienced throughout the year. were reiterated in a lower attendance and a lesser amount of funds being raised with the amounl raised being Just ovw £8,500. However. a mqiority of those attended, were first time atlendees and feedback from the event Wa5 PQSltive. Along with funds raised at the 8ig Worcester Quiz. all funds were dlslribuled belween St Paul's Hostel, Worcester Warriors Foundation and MAGGS Day Centre. Open Days We are delighted Ihat we have been able to continue to invite supporters to the hostel to see flrst-hand the impact of their donations, Our guests had the opportunity to meet residents whllst given a tour of our facilities and seeing some of ihe projects we have established. 'Well afterjust a few hour5 at St Pouls, it become obvious that the worfr done Iljere extend5 for beyond typKol job responsibilitie5. 1 didn t expect Ihe 51off to be so involved In the residents, Ilves - supporting them not just procticolly, but emotionolly os well. They offer more thon just a bed and o hol meol,. theygive them hope and c Sense of direction. One quote that Stuck wilh me from someone l interviewed was If it ivasn'l for this ploce, Id be six feet under.. You could tell he meant it It was reallymoving tofeel thesense of community thot exists there, andl tal￿ my hat off to all thepeople whotre mode thot P055ible. It's not o job mony could dol. Our prlorllles for 2024-25 are: Sustain and improve exisb'ng services Develop strongerrelotionships with partner5 and local authorities in the County Secure fvnding for Housing First beyond 2025 Influence Iixal ond natiorpal policy and decision mafting Secure ongoing suslainoble funding for oursupport services PAIl,F Date 1111212024 Philip Fowler - Chair and Trustee Ooc ID.. 820da6rAd3054ee18a1463804d4d393fOcfae8bb Sl Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Trustees. Annual Report for the year ended 31 March 2024 The Trustees present their report and tP￿ audited financ￿1 statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Ihe Statement of Recommended Practice ISORPI 'Accounling and Reporting by Charities. in preparing the annual report and financial statements of the charity. Trustees of the charity The directors of the charitable company are its Irustees for the purposes of charity law. The trust￿ who have served during the year are detailed on page 2. Structure The charity is controlled by its govemlng document. a deed of trust, and constitutes a limited company. limited by guarantee. as defined by the Companbes Act 2006. The organisation 15 a charitable company limlled by guarantee Incorporated on ￿ January 1995. The company was established under a Memorandum of Association which defines the company's objecls and is governed under ils Articles of Association. In the event of the company being wound up the members are required lo contribute an amount not exceeding Ei. St Paul's Hostel was an unlncorporated charSty ￿or to incorporation. whose actlvities began in 1977. The objects of the unincorporated body were broadly similar to the current charity. Governance and Manag•ment st Paul's Hostel has a Council of Trustees which meets on a regular basls. The Council (the term 'Board' is usedl of Trustees mel three times in 2023/24. In addition to the member5 of the Council of Trustees, the Chief Executive and Finance Manager along with the 3 Service Managers and Fundraising Manager Itogether Ihls is the Leadership and Management Team) attend Trustee Board meelings. A General PurF)0ses and Finance Sub-commillee was established in OCto￿r 20￿ in view of Ihe expansion of services being offered and lo enable more detailed discussion on Ihe financial figures outside of the full Trustees meetings. This Committee is also responsible for selling pay and remuneration for key management personnel based on current market rales. There were four meetings in the period. The Chief Execullve arid Finance Manager attend these. The Trustees delegate the responslbillly for the day-lo-day operallon of the charlly lo Management staff led by the Chief Executive with delegated powers, In addition lo the full and part time staff. the charity also uses volunteer workers whose value cannot be precisely measured in terms of cost. The volunteers are under the supervision and coordination of each Service Manager. Volunteers have numerou5 roles. but ihe maionty provide daily kitchen servlng dulles. At the present lime. Ihe staff consists of.. I Chief Executive i Finance Manager and Company Secretary (part limel i Housing Manager 2 Housing Officers i Housing Services Manager Ipart limel 9 Project Workers (full and p/timel 2 Housekeepers (park limel Up 10 3 Relief Workers (part timel i Fund Raising Manager i Finance orr￿er Ipart timel I Chef and Catering Manager Up to 3 part time Kitchen Assistants (often found from residents or forn*r residents) The Worcestershire Housing First service continues for al least 2023-25 and St Paul's Hoslel wa5 awarded the two-year contract to provide the support service. This se￿iCe currently employs.. i Housing First Service Manager 6 Housing First Case Managers Iwiu be 5 in 2023-25) I Peer Support Worker In addition, the Hoslel staff are supported by up 10 20 volunteers Doc ID.. 820da6cAd3054ee18a1463804d4d393fOcl&8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Trustees, Annual Report for the year ended 31 March 2024 Icontinued._) Recvultment and appolntmgnt of new trustws The directors of the company are also the charity trustees for the purposes of charily Law and under the company's Articles are known as Yrustees". The Board of directors is referred to as the 'Council ofTrustees". Every member currently contributes £1 and from the membership is elected the Council of Trustees who in their tum may aPFxsint a Management Committee lo organise Ihe day-to-day running of the charity. The Council of Trustees in office during the year is shown on the previous page 109elher with the legal details of the charity. While the first Point of Contact for F)Otential trustees is the CEO, the Chair of Trustees coordinates selection of Trustees. thereby preserving the rEcessary separation ￿￿tween governance and operalions. The term of office for the Chair and Vice Chair shall be as near as possible lo three years. However, a retiring officer may, if the Tru51ees think fit and he/she is willing to continue in office, be re-elected. The maximum term of office is ten years. The secretsry and one third of other Council members musl retire al each Annual General Meetln9 bul may offer themselves for re-election. The Management Team is supported by the Finance and General Purposes sub-committee of Trustees who make recommendalions to the Board of Trustees on finance. property, slrategic planning and human resources matters and execute any delegated matter set by Trustees. The Councll of Trustees is aware of the speciftc needs of the charity's client group and the balance of expertise of existing trustees. Potential new Trustees are identified by the Trustees, often from the large pool of volunteers and are invited to offer themselves for election lo the CoLJncil. Induction and trainlng of new trustees Most Truslee5 are already aware of ihe charity's work prior to Iheir appoinlmènt and indeed the profile of the charity and Its woik is the prlmary motivation to volunteer, Trustees understand Ihelr duties as charity Iruslees and company director5 and training is offered with exteinal natlonal providers. They meet the Chief Execulive and Flnance Manager and visit the services lo understand the culture and ethos of St Paul's. They have vailable up to date guidance on ￿sponSIbl11t1eS for t*ing a Trustee published by the Charity Commission. Rlsk management There is an up-to-dale Risk Management Policy. Risks ale identified. assessed and controlled with some High Probabilily and/or High Impact risks bang elevated from the Leadership and Management Team to the Finance Sub-committee, or the Board of Trustees. Monitoring procedure5 have been put in place lo evaluate on a continuing basis. levels of risk exposure and lo review at a Board 15tralegicl and Leadership and Management loperationall level. OBJECTIVES & AIMS The principal activity of the company. in ihe year under review. was that of providing accommodation for the slngle homeless. We have referred to the guldance contained In the Charity Commission's general guidance on public benefit when revlewing our objectives and activities and in planning our fulureactivilies. In particular, the trustees consider how planned activities will contribute to the objectives and aims they have set. The main objective of the charity 15 as follows. lo provKle relief either generally or individually of persons in the Midland5 who are suffering from homelessness. poverty or are in conditions of need. hardship or distre55 particularly but nol exclusively by the provision of accommodation and reialed support services,. From this we have crafted our mission.. to help people live through homelessne5S. Doc ID.. 82oda6￿d3O54e8l8al463804d4d39310¢1ae8bb St Paul's Hostel - Annual Report and Financial Slatements Year ended 31 March 2024 Trustees, Annual Report for the year ended 31 March 2024 (continued...) Our values are.. Respect for olhers. We will always tieat people in the way we would wanl to be treated ourselve People can. change. With encouragemenl, perseverance and through appropriate relationships, people can change. Fairness. We will treat everyone in our seryices fairly. This mean5 we will do our very best to get everyone whal they need. Being fair does not mean everyone will always get Ihe same things, as il depends on a person's assessed need. d. Self-help. Indlvidual resF)onsibility for change is importanl, if change Is to occur. Knowing our Ilmits. We know what we are good al and what we are not. There are Llmits to Ihe help we can offer and where we cannot help. we always explain why. The Community. The indivKlual Is Important, but we have a bias towaids the well-being of the community. g. A strength-based approach. In helping p8ople, we take into account what a person has and what they can do. rather than what they do not have and whal they cannot do. ACHIEVEMENTS AND PERFORMANCE Summary of Main Achievemenls Hoslel occupancy Levels have remained high at 97.9% this year and the hostel accommodation has helped over 70 people this year, b. Provision of the Cognitive Behavioural Therapy ICBTI counselling seNice to over so people with a ulilisation rale of 94%. The wailing time is le55 than 2 days with compares very favourably to national NHS guidance under the IAPT prLw3ramme'. Ir$ 2023-24 we enhanced our therapeutic services with altemative therapies, including Mindfulness and Thought Therapy for 20 hours per week whlch has helped over 40 people inside and outside of the Hostel community. d. Five residents have taken part In our kltchen asslstanl scheme. e. This year St Paul's has worked ¢iosely with the local Primary Care Nelwort( to provide health careand advice to residents. Thls included an Advanced Nurse Praclilloner on sile once a week and running a clinic lo provide Health Checks to iesidents over 40. checking Cholesterol and blood pressure. These health checks removed hurdles for residents who might nol otherwise attend a GP surgery and miss the warning signs of ill health, How our activitles dèlivèr public benetit The main areas of activity and whom we try lo help are described below. Atso, we aid people who find themselves needing help lo alleviate drug or alcohol addict¢orb, often closely related lo rough sleeping or homelessness, The capabilities we have to meet these objeclives include safe and secure accommodation. individual and group counselling. wellbeing sessions, life skills training. job coaching and training. The CEO co-opted to the Board of Healthwatch Worcestershire. with specific responstjilities for homelessness health services. 75% finish the couise of Ireatment within 6 weeks 01 95% wilhin ￿ week& Doc ID: 820(la6c4d3054ee18a1463804d4d393fOcfae8bb St Paul's Hostel - AnnuaL ReFX)rt and Financial Statements Year ended 31 March 2024 Trustees, AnnuaL Report for the year ended 31 March 2024 Icontinued...) Sl Paul's Hostel st Paul's hostel is central lo our service. It has facilities for 42 people plus two self-contained resettlement flats on the same site. The charity provides single room accommodation, nutritious food and tenancy support. The Project Workers undertake tasks to help people manage their accommodation and build self-efficacy to establish themselves as able to live an inter-dependent life. st Paul's Resettlement Servlc• St Paul'5 own5 2 propertie5 and rents i House of Mulllple Occupation IHMOI that are known as resettlement properties. These 13 beds provide the next step from the hosteL using the Housing Reody philosophy. From this stage, staff offer Housing Management serwces to help a person retain the tenancy, building resilience and self- efficacy. In 2024. the i rented HMO will be handed back to its owner, due to low occupancy. st Paul's Counselllng Sorvlc¢ The in-house C8T counselling service provides almost Immediate access to an accredited counseLLor for crfsis intervention or therapy. Service utilization is al)ove 94% and we have further reduced the waiting time for appointments. NoU￿n9 Flrst ProJoCt The Worcestershire Housing First Pilot, funded by the Business Rates Retention funding from WOr￿StershIre County Council and 5 distr¢ct councils continues until 31 March 2025. During the 4 years of operation. il has rehomed 56 people. who had previously been deemed very difficult to house by Local Authorities. Unfortunately. 3 people in that service have died. The University of Worcester ha5 completed an evaluation using a similar Iramework to the national Housing First pilots in Manchester. Liverpool and Birmingham. The Worcestershire Housing First pilot is not part of the 3 national pilots,. however. the tenancy sustainment rale5 compare more than favourably to these pilots. Flnanclal Revlew High levels of occupancy and a higher level of grants. legacies and donations have helped to reduce Ihe budgeted deficit for this financial year, which was welcome news. The key financial risk for the coming year continues to be the funding of Ihose services not funded by Housing Benefit Income. namely Counselling and Therapeulic Seryice5 and the Kitchen Service Project. However, we have been fortunate in already securing some part fundbng for ihese aclivitse5 for the next financial year. Plans for future perlods Our future plans will focus on,. Creating a work force of people who have the rlghl skills, compelencies. and attitude of mind lo work in a Trauma Informed way. Deliver Trauma-lnlormed services that meet the needs of the homeless person and prevent the need lo re-access homeless services in the fulure. Change public attitudes towards homelessness at the local and regtonal level. so that the public want change and homelessne55 is less tskely. Have sustalnable income and a ca￿taL Investmenl programme, so we can help homeless people until homelessness is ended. Doc10'. 820da6rAd30549918a1463804d4d393fOcfaé8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Trustees, Annual Report for the year ended 31 March 2024 Icontinued_.) Reserves policy The Trustees have reviewed the charity s needs for reserye5 in accordance with the 9uidance issued by the Charity Commission and have considered the desirability of holding sufficient funds to meet unexpected disruption of the income flow. The level of reserves held at the year-end were as follows'.- al Total funds (Restricted and Unrestricted) - Ei,306,52312023'. £1,255.7031 bl Restricted fund5 £012023., £13.2881 cl Designated funds - £300.00012023: £300.00011 dl Non liquid funds (held as fixed assels/programme reLaled investmenlsl - £558.98012023." £620,6041 After making allowances for items B lo D above the free reserves amounted lo £447,54312023'. £321.8111. These free reserves are considered reasonable and appropriate for the size of the charity. The designed fund of £300.000 15 In relalion to anticipated future development costs, the trustees consider Ihis expenditure will be incurred within the next 3 years. On Ihls basis. TheTrustees consider that the reseNes are at a realistic levelto ensure the effective and efficienl running of the charity. Related Paities None of our trustees recelve remuneration or any benefit from their work with the charity. Any connection between a Irustee or senior management of Ihe charity with any giant providers. customers, suppllers or beneficiaries musl be disclosed lo the board of trustees. The trustees and management also aim lo maintain and develop sustainable reL4tionships wilh local aulhorities and other chaiitie51organSsations as required. Doc ID: 82odas￿d30s4ee1Ba14638o4dlId393foCIae8bts St Paul's HosteL- Annual Report and Financial Statements Year ended 31 March 2024 Trustees, responslblutles The trustees Iwho are also diiecloTS of St Paul's Hostel for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Praclicel. Company law requires the trustees to prepare financkal slalements for each financial year, which give a true and fair vlew of the State of affairs of the charitable company and of the incoming resources and application of resource5, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 1021 make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any matedal departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriale to presume Ihal the charitable company will conlinue in operalion. The twstees are resF)onsible for keeping adequate accounting records Ihat disclose with reasonable accuracy t any time, the financial position of the chaiitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit infomiation of which the chaiitable company s auditor is unaware.. and 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 audltor Is aware of that Information. This report has been prepared in accordance with the speci81 provisions of Parl 15 of the Companie5 Acl 2006 relabng lo small companies. 1111212024 Approved by the Board of Tfu5tees on _.................-...._...... PAiliF Fowltf Phiknp Fowler - Chair and Trustee 10 Doc ID.. 820da6c4d3054ee18a1463804d4d393fOcfoe8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Independent Auditor's Report Opinion We have audited the financial statements of St Paul's Hostel Ithe'charilable company'l for the year ended 31 March 2024 which comprise the statement of financial activities. balance sheet. cash flow statement and notes lo the financial stalemenls. including significant accounting policies. The financk41 reportin9 framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financkal Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements give a true and fair view of the stsle of the charitable company's affairs as at 31 March 2024. and of its incoming re50vrces and appllcalion of resources, Includlng Its income and expenditure, 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 Tequirements of the Companies Act 2006. Basls for oplnlon We conducted ouraudit in accordancewith Inlernationalstandards on Audiling IUKI IISAslUK)l and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial stalements Section of our report. We are independent of the charitable company in accordance with the ethical requiremenls that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsi￿.litieS in accordance with ihese requirements. We believe that the audit evidence we have oblained is sulficient and approprlale to ovide a basis for our opinion, Conciuslons relatlng to going concwn In auditing the financial statements. we have concluded that the Iruslees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 8ased on the work we have performed. we have not identified any material uncertalnlles reialing lo events or conditions Ihal, individLtally or collectively, may cast significant doubl on the chaiitable company's ability to continue as a goin9 concern for a period of al least twelve months from when Ihe financial statements are aulhorised foi issue. Our responsibilities and the responsibilities of the trustees with respect to golng concern a￿ described in the relevant section5 of this report. other Infomiatlon The other information comprises the information included in the liustees, annual report, other than the financial statements and our auditor's report thereon.The trustees are responsible for the other information contained wilhin the annual report. Our opinion on the finarbcial statements does not cover the other information and, except to the extent otherwise explicilly slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and. in dolng so, consider whether the olher information is materially inconsistent with the financial statements or our knowledge obtained in lh8 course of the audit or otherwise appears to be materially misstated. If we identify such material incon51Stencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in Ihe financial statements themselves. If. based on the work we have performed, we conclude that there is a material misslatement of this other information. we are required to report that fact We have nothing to report in this regard. 11 Doc ID.. 820da6rAd3054ee18a1463804d4d393fO¢fae8bb st PauL's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Matters on whlch we are requlred to report by exception In the Lighl of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mi55tatements in the director5, report Included within the trustees. report. We have nothing to report in respect of the following matters in relation to which the Companie5 Act 2006 requires us to report to you if, in our opinion.. adequate a¢¢ounting records have not been kept. or returns adequate for our audit have not been received from branches not Vlsited by us.. or the financial statements are not in agreement with Ihk accounting records and relurn5,' or certain disclosures of tru5tees' remuneration specified by law are not made.. or we have not received all the information and exptanalions we require for our audit.. or the trustees were not entitled to prepare the financial statements in accordance wilh the small companies. regime and take advantage of the Small companies. exemption5 In preparing the directors, report and from the requirement to prepare a strategic report. R•sponslbllltSes of trusl••s As explained more fully in the trustees. responsibilities siatement at the end of Ihe Trustees Report, the trustees (who are aL50 the directors of the charitable company for the purpose5 of company lawl are sponslble 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 thal a￿ free from material misstatemenl, whether due to fraud or error. In preparing the financSal statemenls. the trustees are responslble for asses9ng 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 tNstees either intend lo liquidale the charitable company or lo cease operations. or have no realistic allernalive but to do so, Audltor's responslbllltl•s fw the audlt ol th• flnanclal slatem•nts Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are free Irom material mlsstalemenl. whether due to fraud or error. and to issue an auditor's report Ihal includes our opinion. Reasonable assurance is a high level of assurance. but Is not a guarantee Ihal an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. indlvidually or in Ihe aggregate. they could reasonably be expected lo Influence the economlc decislons of users tsken on the basls of these Nnancial statement5. Irregularities, including fraud. are instsnces of non-¢omplian¢e with laws and regulations. We design procedures in line with our responsibilities, outtined above, to detect malerial mi5slatement5 in respect of Irre9Utarlties. including fraud. The extent lo which our procedures are capable of delectlng irregularities, including fraud, is detailed below. Our audit process involve5 determining a sultable materia￿tY level and assessing the overall risk of material misstatement, Including how fraud may occur. Our core procedures in relation to fraud and error include.. Identifying Laws and reguialions that could reasonably give rise to a material mi5Statement in the financial statement5. Enquiring with management and office holders on thelr own considerations on fraud Considering financial pressures. incentives, opportunity, and motivations that may lead to fraud. Reviewing areas where management is required to make significant subjective judgements Ithe key area5 identified for St Paul's Hostel include fixed asset valuation/depreciation and allocalion of re5lricted fund expenditure) Ensvring expendilure is Wlthin the scope of the charities. aims and objective5, is line with restricted funding requirements and is properly aulhorlsed. Reviewing manual jOLtmal entries to ensure they are appropriate and no subject to any bia5, thus reducing the risk of mi5siatement due to management OVerr￿e of controls. Our procedures are tailored to the specific risks we have identified for St Paul's Hostel and are based on our detslled knowledge and understanding of Ihe charity and its environment. 12 Ooc ID.. 820da6rAd3054ee18a1463804d4d393fOdae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 There is an inherent risk that our audit will not delect all iNeguiarilies. including those resulling in material misstatement in the financial statements or non-compliance with reguialion. This risk is greater in respect of fraud rather than error, as fraud involves intenlional conceairnent.. forgery. collusion. omission or misrepresentation. As part of an audit in accordance with ISAS IUKI, we exercise professional jLJdgment and maintain prolesslonal scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perform audit procedures responsive to those risks, and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting material misstatement resulting from fraud is higher than lor one resulting Irom eiror. as fraud may Involve collusion. forgery. intentional omissions, misrepresentations, or the override of internal controL Obtsin an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. tr4Jl not for the purpose of expressing an opinion on the effectiveness of the charitable company s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accountlng estimates and related disclosures made by Ihe trustees. Conclude on the appropriateness of the trustees. use of the going concem basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to evenls or conditions that may cast significant doubt on the charitable company's ability lo continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in Ihe financial slatemenls or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our auditor's report. Hoiiiever, future events or conditions may cause the charitable ompany to cease to continue as a going concem. Evaluate the overall presentation. structure and content of Ihe financial statements, including the disclosure5, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation li,e.. gives a true and fair view). We communicate with those charged with goVerna￿e regarding, among other matters. the planned scope and liming of Ihe audit and significant audit findings. including any significant deficiencies in intemal control Ihat we identify during our audit. Use of our Teport This report is made solely lo the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil wotk has been undertaken so that we might state lo Ihe charitable company's members those matters we are required to stsle lo them in an auditor's report and for no other purF)ose. To the fullest extent permitted by law. we do not accepl or assume responsibility lo anyone other than the charltable company and the chariiable company s rnembers as a l)ody. for our audit work. for this ieport. or for the opinions we have formed, Richard Dunkley Isenior Statutory Auditor) RO Accounting Limited (Statutory Auditor) Chartered Certified Ac¢ounlants C Two Locks Hurst Business Park Brieiley Hill DY5 IUU Dale., 1111212024 13 Do¢10.. 820da6c4d3054ee18a1463804d4d393fOcfae8bb St Paul's Hostel- Annual Report and Financial Statements Year ended 31 March 2024 Statement of Financial Activities (including summary income and expenditure account) for the year ended 31 March 2024 T￿•¢ Fu incl Funds INCOME ANO fNI)OWMENfS FROM Oonatlons ènd leeacies Chafliable aal¥ille5 In¥e5tment Income 111.516 878.448 IL929 104,775 395.472 216.291 L27J.920 2L919 275.645 1,156.952 18.448 Totsl Income and Endowmen LOIIA93 5(Kl.147 L511140 J aS1.Oa5 EXPENDITtIRE ON Dlfert chJflt•tyle aai¥ltles Centr•l oveihead costs IOL977 29j.lfjo 475.557 36.188 1.1711.534 J27.J48 1.122.183 360.110 txpendilvie 994.137 SIA.745 I.SOS,882 1.482.293 IIET INCOME I ItXPENDIIUREI A7,756 IIL4981 6,258 131.2411 Tr•nslws beiweei) Funds 21 IL1901 incwnlngllouyoir¢l loy the year belo •lhotfowfilsed i•lhS •rd losses 19.546 6,151 131.2a81 G•lnslllo55esl on ietrnluatlon ol Invesimer Rev¥iv•ilon ol sot&•i Invesiments ij li 44.562 44.561 119.3611 87.sl 14et fflovemeni In I￿￿15 19 64.108 iJ.188 50.020 56.890 TOMI funds biouihi fornaid 1,141415 13.2U 1.155,70J 1.218.81J Total lunds tarrltd ioThv• 1,306.523 I.J06.52J 1255,703 14 Doc ID.. 820da6eAd3054ee18a1463804ddd393fOcfae8bb st Paul's Hostel - Annual Report and FinanciaL Statements Year ended 31 March 2024 Company reglstratk)n number: 03009035 Balance Sheet as at 31 March 2024 2014 2023 UnresTiirted Stsnos Rtniitttd 6tsnds Totsl Supds T￿•¢ lunos FIXED ASSETS Yawityle asset5 Social investmen io li 181.480 577.50 I•L410 J77.5(Kl 24J,104 377,5 55198(1 55&980 620.604 CURRENT ASSETS Oebrois In¥esirnen15 Cash ai bank aftd In hano 12 ij 50.681 556157 365.044 951589 26.128 492,295 536.857 365.044 951589 8?3.728 CREDITORS Amounts f•llin4 Jue wlihin one yt•r 14 124.046 124fv16 121.629 N£T CURRENI A55EIS 8U.543 752.099 TOTAI ASSETS iESS CURRENT IIABIUTIES 1.387.521 1.387.523 1.372.70J CREDITORS Amoynis faiiini due after more than one ve•1 16 181,IXX>I NET ASSEIS 1.306.523 L306.523 1,255.70J 19 Llfiresiiiaed lunds Oesi4noteO Ivnds Revatuoiiort ieseryt Resiilcieo lun4$ 573.046 553.5 433.477 388,915 13.288 I.1￿523 1,255.703 These accounts are prepared in accordance with the speclal provisions of Part 15 of the Companies Act reLaling to small companies. 1111212024 The financlal statements were approved by the Board ofTrustees on__-..-----.. and were slgned on Its behalf PAil,F FO￿1&( P Fowler - Chair 15 Doc ID.. 82Qda￿d30s4eel88l463804d4d393focf8eBbb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Statement of Cash Flows for the year ended 31 March 2024 2024 2023 Nel Incom* l (empendllure) loi year 6,258 131.2481 Dlvldends recelvablè Inlere51 retelvable Depreclètlon and Impalrmenl of tanglble fl¥ed 355et5 Ilncieasel I decrease In debtors Increase I Idetteasel In uedltors 118,273) 13.59)) 68,J 124.3601 133,5833 116.7171 11.6661 71.188 16.0231 {137.0121 Net ￿5h Ilow Irom oper•llni •dlvltle$ 5.16J 121.478 Cash Ilow liom Investlng a(tivitles Poyments lo aqulre tan8lble flxed Jssets Proceeds from sale of tanglble Ilxed assets Interest iecelved Olvldènds reteSvèd (6,1641 17,0411 3,593 18.273 1.666 16.717 Nel cash Ilow Irom invesiln8 artlvltles 15.102 10,742 Nel ifi¢rease I Ideueasej ITr u$h and (ash equlvalents 9,939 1110.730 C15h and (ash equS¥alents at the bealnnlnzof Ihe ieportin8 perlod 355.105 465.R41 C•sh •nd ¢a5h egul¥aleDIs at Ihe end ol the reportill8 perlod 355,105 16 Doc ID.. 820da6c4d3054ee18a1463804d4d393fQcfae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financial statements for the year ended 31 March 2024 AccountirKJ policies {al Basis of preparation St Paul's Hostel is a charitable private company lincorporaled in England / Wales), In the event of Ihe chaiity being wound up. the liability in respect of t'he guarantee is limited to £1 per memberofthe charity. The address of the regislered office is.given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activity was Ihat of providing accommodation for the single homeless and further details can be found in the trustees. report. The charity constitute5 a public benefit entity as defined by FRS 102. The financial slalemenls have been prepared in .accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the . Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Proclice. The significanl accounllng policies applied in the preparation of these financial statements are Sel out below. These policies have been consistently applied to all years presented unless othe￿iSe staled. (bl Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the.general objectives of the charity and which have not been deslgnated for other purposes. Designated funds comprise unrestricted funds that have been Set aside by the trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial statements. Reslricled funds are funds which are to be used In accordance with specific rpstrlctions imposed by donors or whlch have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The alm and use of each reslri¢ted fund is set out in the notes to the financial statements. The charity does not currently have any endowrnent funds, (cl Incomlng re$ourcos All incoming resources are included in the Statement of Financial Aclivilies ISOFAI when the charily is legally entitled to the income after any performance conditions hève been met, the amount can be measured reliably, and it is probable that the income will be received. Rental income In respect of the hostel and resettlement housing is included on an accruals bas4s in the period to whlch it retates. For donations to be reco9nised the charity will have been notified of the amounts and the seltlement date in writing. For legacies, entillemenl is the eailier of the charity being notified of an impendSng distribution or the legacy bein9 received. At this point income is recogn5sed. On occaslon legacies will be notified to the charity however il is not possible lo measure theamount expected lo be distiibuted, On these occasions. Ihe legacy is treated as a contingent asset and disclosed. Income from government and othergrants are recognised at fair value, when the charity has enlillemenl after any performance conditions have been met. it15 probable that the income will be recaved and the amount can be measured reliably. If entitlement is not met. then these an￿unt$ are deferred. {dl Resouf¢gS expgnded All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the calegory. Expenditure is recognised where there is a legal or conslruclive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligalion can be measured reliably. Where costs cannot be directly attributed to particular headings they are included in central overhead Isupportl costs. These include project management. finance, administralion and general office overhead 17 Doc ID.. 820da6c4d30548818a1463804d4d393fO¢fae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financial statements for the year ended 31 March 2024 Icontinued.I {el Invèslments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and 10s5es arising on revaluations and disposals throughout the year. Current asset investment5 are short term highly liquid investments and are held at fair value. These include cash on deFX)Sit and cash equivalents with a maturity of less than one year. ifj Pension costs The charitable company operates a defined contribution scheme for Ihe benefit of its employ*s. The costs of contributlons are recognised a5 an expense in Ihe period to which they relate. Igl Tanglble fixed assgts and dppreclatlon Tangible fixed assets costs'ng more than £1,000 are capitatised and included at cost including any ' incidental expenses of acquisition. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight- tine basis over their expected useful economic lives as foLiows'. Freehold proFerty Fixtures and fittings Motor vehicles Capital works programme nil over 4 to s years 25% on reducing balance over 7 to 8 years (h) Finance and operating leases Rentals aP￿icable lo operating lease5 are charged to the SOFA over the period in which the cost is incurred. No assets are currently held under finance leases. Golng Concern The financial statements have been prepared on a going concern basis as the trustees believe that no materlal uncertalnlies exist. The trustees have considered the level of funds held and the expected level of income and expenditure for ￿ months from authorising these flnancial slalements, The budgeted income and expenditure is sufficienl with Ihe level of reserves for Ihe charlty to be able to continue as a going concem. til Tax The charity is an exempt charity withln the meanSng of xhedule 3 of the charit￿s Act 2011 and Is considered lo pass the tests set out in Paragraph i Schedule 6 Finance Acl 2010 and therefore it meets the definition of a charitsble company for UK corporation tax purposes. {kl Debtor$ and creditors recelvable / payable wlthln ono ypar Debtors and creditors with no ststed interest rale and recelvable or payable within one year are recorded at Iransaction price. Any losses arising from impairment are recognised in expenditure. Programme related social Investments st Paul's own5 two freehold properties, which are used as resettlement housing and thus specifically contribute to the charity's charitable purposes. These proFerties are held at market value provided thi5 amount can be measured reliably otherwlse they are measured at cost less any provision for diminution in value. Im) Donated Goods, Setvlces and FaclUti•$ Donated professional services and donated facilitses are recognised as income when the chèrity has control over the ilern. any conditions ass¢xiated with the donated item have been met. the receipt of economic benefit from the use by the charity of the item 15 probable and that economic benefit can be measured reliably. In accordance with Ihe Charitie5 SORP IFRS 1021. the general volunteer time is nol recognised Irefer lo the trustees. annual report for more irbformation about thelr contrt'bulionl, On receipt, donated professional Services and donated facib'ties are recognised on the basis of the value of the gift to the charitywhich is the amount the charity would have been wil￿.ng to pay to obtain service5 or facilities of equivalent economic benefil on the open market., a corresponding amount IS then recognised in expenditure in the period of receipt. The charity currently pays a management charge to Forl15 Living for the use ofthe hostel which amounts to £44.784 per annum. Given the unique nature of the property and its purposes a marf%et rental Can not be measured accurately and therefore there are no donated facilities transactions recognised in respect of this facility. 18 Doc ID., 820da6cAd3054ee1801463804d4d39310dae8bb St Paul's HosteL- Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financial statements for the year ended 31 March 2024 Icontinued_l Income from donations and legacies 2024 2023 Gifts and donaiions Granls Isee note 221 S7,515 158.776 53.693 221.952 216.291 275,645 Granls recelved, Included in ihe above. are as follows: 2024 2023 19th May 1961 Charltable Trust 29th May Charlly Alben Huni Charltable Trust Archer Trust Arnold Clark ASOA Foundation Beatrlce Lan8 Tlust E Coomber E4rlby Propenles E¥eson Trust F&C Grant Gartleld Wesion edley Foundalion 18h Sherlff Grant Menior Woicestershlre. Grant Monial Charitable Trusi Nallonivlde Kllchen Grant Peer Menlor Prvgrarnme Publlc He•lih Enaland ¥toger & Oouglas Turner Chafiiable Trust Rough Sleepers Drug & Alcohol Sep*lce Roivlands Trust Turner Trvsi WCF Worcesiershlro COM Wesl Mercla Pollce Wlllis Tfusi Wellness Grant Worcester Communlty Fundin8 worcester County Councll Worcestershire Advance 5.1)00 7,000 2,OlXI 2.IXIO 5,000 40,000 25,( 25,000 2,000 730 5,IXILI 32,Sthl 2,60C+ 19,255 52,066 22,702 io.ooo 1,790 2.OlXI 3,000 36,645 1,000 12.420 158.776 221,952 Investment in¢omo 2024 1023 Olvldends recel¥ed Oeposlt account inleiest 18,273 14.084 14,138 19 Ooc ID: 820da6rAd3054ee18a1463804d4d393fOcfae8bb St PauL's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financial statements for the year ended 31 March 2024 Iconts'nued.) Incomlng Resources from Charitable Aclivities 2024 2023 Housin6 Benefll Rent Private Rent Worcester city Councll . Housln8 Flrst Rou8h Sleeping Accommodatlon Programme Nailonal Lottery Communlty Fund Sundry Income 784.050 94.J98 337,678 64,485 57.794 679,6541 88,842 335,036 51.260 2,160 1,338,406 1.156,952 Dlrèet •xpendlknJrè on charltabl• acllvltles 2024 2023 Hostel. HouslnB Flisl & ReJettlomtnt¢¢51$ Salarles. Nl & Pen51on Ren15 Ulllltles Repalrs, Malnten•n¢e & Servlce Charges Insurances Telephon* Food Costs Cllenl Wellare Counsellln8 Costs Cleanln8 Consumables Olhercosls BaLI O•bt Provlslon Fundfalsln8 Costs 728.578 19.426 75.041 7S.750 20.105 8.411 79.J15 47.$40 80.529 26,4Jl 724,876 21.900 58.996 80.987 16.305 70,290 46.178 57.118 23,495 3,521 6.289 5.2e8 4.042 1 178.514 1.122,183 Central overhead / support costs 2014 2023 Salarles. Nl & Pen51on OHi¢e Cosls IY Costs Legal. Consultancy & Professlonol lees Sub5crlpllons Accouniancy & Avdlt Fee5 St•ff TfaIn1n￿e1fare Bank Chafge5 Depreclotlon & Iprofiiiiioss on dlsposal ol assels 167.091 13,511 JJ,682 6.897 J.897 7.248 44.961 1.671 161.542 14.296 18.106 31,613 6.377 7.205 48,382 1,401 71,188 327.J48 360,110 20 Do¢10.' 820da6rAd3054ee1881463804d4d393fOcfae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Notes formlng part of the financial statements for the year ended 31 March 2024 Iconlinued..) Net Incoming/loutgoingl resources Nei resources Jre slated after char86n￿l(ledIIln8I 2024 2023 Indepeftdeni Audltorfs lee Fee for preparation of aecounis Oeprec5aiion. oiwned assets Operaiing leases lor property Operating leases lor equlpmenl 3.330 1,200 71.188 21.900 11.277 68,388 19.426 13.685 Twstees iemuneratlon and expense5 There were no trustees, remuneration or other benefils for the year erKled 31st March 2024 nor for the year ended 31st March 2023. There were no trustees, expenses paKI for the year ended 31 March 202412023.. NIL). 21 Doc ID.. 820da6cAd3054ee1881463804d4d393fO¢fae8bb St Paul's Hostel - AnnuaL Report and Financial Statements Year ended 31 March 2024 Notes fomiing part of the financial statements for the year ended 31 March 2024 Iconlinued..) staff costs Z024 2023 Wa8es and salaries Employers Natlonal Insurance Oeflned contrlbutlon penslon costs 812,103 68.142 17.771 798,308 70,412 17.185 898,015 885,904 The average monthly number of employees during the year was 35 12023., 331. The average number of full- time equivalent employees was estimated lo t* 2412023.. 23) No employees received emoluments in excess of £60.000 during the year (excluding employer's pension contributions). Tolal remuneration paid to key management personnel wa5 £g4,56z12023'. £90,638) durlng the yearlexcludlng employers pension conlributionsl. The charity contributes to individual pension schemes. which are defined conlribution pension schemes, and the amounts charged to the income and expenditure accounts for the year are as slated above. io Tangible Fixgd Assets Flxlures. Flttings and Equipment Molor Vehlclei Totals COST As al Isl Aprll 202J Addltlons Olsposals Sc￿.750 xi7,750 6,764 A5 at 315t M•rch 2024 511,514 514 514 OEPRECIATION As at Isi Aprll 2023 Char8è for the ye8r Ellminatod on dlsposal 263,896 .67.825 750 563 264.646 68.387 As at Jlst March 2024 331 721 1.313 333 033 NET BOOKVALVE At 31st Mlrth 2023 240.853 2.250 243.103 Al Ilst Marth 2024 179 793 22 Doc ID. 820da6cAd3054ee18a1463804d4d393fOcfae8bb St Paul's Hostel- Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financial statements for the year ended 31 March 2024 Icontinued_l li Soclal Investments- programme related 2Q24 1023 COST OR VALUATION Ai 1st April 2023 Addliions Rev8luations Disposals 3TI,SthI 87,500 At 31st March 2024 377 500 Following professional valuations. social Investment properties have been revalued lo £377.500 with an origlnal cost of £150.009. Debtors: Amounts falling due within one year 2024 2023 Tradè debiors Prepaymenls & 4¢cru*d Income .491 2.197 20,800 5,528 26,328 33 Current assel investments 2024 2023 COIF Charltles Investmeni Fynd 5>6.851 492.295 S36 851 492.295 The movement In the year of £44,562 is in retation lo changes w) market value, there were no disposals in the year. The original cost of the investment was £300.000. Creditors.. amounts falllng due wlthln ong yoav 2Q24 2023 Tfade Creditors A¢ttuals Deleffed Income15ee followln4 not•) Social Se¢uflty &oiher taxes Other Creditors Con¢•ss•onary loan. Plailorm Housine 21,33S 11.008 28.891 19,349 7.457 36,lJ 14,980 17.061 25,000 26.454 2.134 36.000 121,629 23 Doc ID.. 82Oda6￿d3Os4eel8al4638o4d4d393f0cfae8bb St Paul's Hostel - Annual Report and Financial Statements Year ended 31 March 2024 Notes forming part of the financlal statements for the year ended 31 March 2024 Icontinued..) Deferred incoming resources Sncoming resources are deferred in accordance with section 5.24 of the Statement of Recommended Practice IFRS1021 whereby income Is subject lo performance-reialed conditions. Recel¥ed duilngthe yeaw Released to 1.4.23 re¥enue 31.03.24 Nalonwlde IKltchen Grant} Nallonal Lottery 25.( 125.(IXII 157,7941 86.691 28.897 25,f 86,691 182.7941 28.897 16 Credltcfs due over i yeor 2024 2023 Conc•sslaniry lo•n. Plaiform Houslni 81.1 117.000 81.IXW) 117,¢)00 An inlerest free loan from Platform Housing was tsken out in December 201910 cover extensive capital works undertaken al the Hostel las represented within fixed assets). The loan is deemed to be a 'Concessionary Loan, in accordance with paragraph PBE34.88 of FRS102 and therefore has not been discounted, 17 Operating lease commStments Total future minimum lease payments under non-canceltsble operating leases are as follows.. 2024 2023 Not later that one year ialer than one and noi l•ief than flve years ialer than Ilve years 2.514 a,sy 18 Related parties During the year Deborah Collins (company secretary) provided hobstic seNice5 including Mindfulne55 and Thought Therapy to residents and staff through her company. Just One Thought Lld. The total for these services amounted to £31.91112023: £8.1401. 24 Doc ID.. 820da6rAd3054ee18a1463804d4d393fOcfae8bb st Paul's Hostel- knnual Rerx)rt and Flnanclal Statements Year end￿ 31 March 2024 Notes formln9 part of the flnanclal statements for the year ended 31 March 2024 Icenllnued_l Mo¥em•nt Infun Tianslers belween funds Incomin¥ rtSOUIC*5 Re50ur(e5 Èxpended Galftsand losse5 At 1.4.23 At Jl.3.24 Unrestr5cled bjnds Gtne¥al Fund Atvaluatlon resèp l)t¥elopmtnt Fund $53.51*J JU,915 i.￿1.89) 1994.ijil 1.790 S?J.N6 431,417P 44.S62 1242 415 562 fte51rirteOfund5 woi