REGISTERED COMPANY NUMBER: 03094905 (England and Wales REGISTERED CHARITY NUMBER: 1049728 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR SIFA FIRESIDE Prime Chartered Accountants Slalutory Auditor Corner Oak 1 Homer Road Solihull B91 3QG
SIFA FIRESIDE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees 1 to 11 Report of the Independent Auditors 12 to 14 Statement of Financial Activities 15 Balance Sheet 16 Cash Flow Statemenl 17 Notes to the Cash Flow Statement 18 Notes to the Financial Statements 19 to 31 Detailed Statement of Financial Activilies 32 to 33
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Irvslees who are also directors of the charity for Ihe purposes of the Companies Act 2006, presenl their report with the financial slalemen15 of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable lo cha¥ilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} {effeclive 1 January 20191 Chief Executive Officerfs Welcome Here al SIFA Fireside. our commitment lo supporting aduhs experiencing homelessness and rough sleeping across Birmingham remains as strong as ever. Thanks to our dedicated staff, volunteers. Iruslees, and funders, we continue lo provKJe vrtal support. through our Support Centre. helping people lind relief and hope every day. This year, we've been excited lo further expand our services beyond emergency sUPPOrt. We kicked off the year by launching two new initiatives.. our Peer Support service and the Exempl Accommodation Navigator team. These additions help us better assist rough sleepeis and those transrtioning into housing, allowing us lo prevent the recurrence of homelessness wherever possible. Later in the year, we partnered with Trident Reach to deliver Bim)ingham's Adult Lead Worker service collaboration that brings our support directly into communitie5. meeling people where they need Il most. Growing our reach in this way has been a key ambrtion for us and it's inspiring to see these efforts come lo At SIFA Fireside, we also recognise the importance of being a courageous voice for change_ We've been working hard lo ensure that our experience and insights help to shape l)cal services. as well as inform policy and commissioning at both local and national levels. This will continue lo be a focus ag we welcome new partnerships and opportunrties to influence p05itrve change thiovghoul the year ahead. Thank you for being part of this journey wrth vs. Together. we're making a real difference for people facing homelessness in Birmingham. Natalie Allen Chief Executive Officer OBJECTIVES AND ACTIVITIES Our Vision. Our Mission. Our Values We are SIFA Fireside. the support centre for any adult in Birmingham that faces homelessness. Our Vision? That every adult in Birmingham can live a future wilhoul homelessness. Our mission? To challenge and address the systemic causes, and the effects of homelessness, collaboration with our partners. As staff. volunteers and trustees of SIFA Fireskje, we live our values each and every day. They are.. Inclusive - We resped diversity and equalrty and recognise people's individual needs Dynamic - We believe in doing the rtght thing lo make a drfference for our clients Courageous - We aré a unique organisation and adapt our SeiCe$ lo meet people's needs Supportive - We provwje holistic support lo encourage people lo learn and grow from their experiences. Page 1
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Achievements and performance haritable activities Strategic Objective5 2024-25 Strate ic Prioiit 1. The occurrence of homelessness is reduced b addressin Immigration pathways for non-UK Citizens are effective. Poverty IS feduced through access to sufficient financ1 source Ihes stemic causes Strate eriencin situation and revenl reoccurrence People are accommodated in safe, surtable. good qualty housing that they can afford People are accessing support Ihal meets their needs, enables Ihem to find and sustain accommodation and build resilience homelessness can benefit from the routes that relieve their current Strale le at risk receive the su from occurrin in the first lace Homelessness Is reduced as a result of". discharge from an inslrtution e.g. hospital - evictionlabandonment from exempt accommodation need as ear 5sible lo revenl Organisational Development What we achieved Expanded Partnership Network We have broadened our range of delivery partners to offer high quality support, advice, and guidance. This includes improved access to immration, welfare. and hougin9 advice, as well as assistance navigating crjrnplex systems. This has enabled clnIS to achieve diverse outcomes that move them away from homelessness. Improved Accommodation Standards We have signthcantly increased the number of property checks carried out, entifyIng and reporting poor or unsafe accommodation lo Birmingham Crty Council for foltow-up action. In parallel. we have worked collaboratively with landlords lo raise property standards 2nd provided intensive support to help indNidua15 Sustain their tenancies. Reduclng Homelessness from Supported Exempt Accommodalion Our Exempt Accommodation Navigator service has had a measurable impact. Data shows that onty 70fi of clients left their accommodation or re-presented as homeless. demonstrating the effectiveness of targeted support in preventing repeal homelessness. Enhanced Support for Rough Sleepers We continue to deliver vital services to rough sleepers and have slrengihened our mutti-agency approach to ensure individuals who fall through the gaps are identified and supported through coordinated intervenkn'ons. Digital Transformation and Data-Driven Impact The Iransfomialion of our IT and caseload management systems has enabled more robust data capture on outcomes and impact. This has allowed us lo share key insights with local and national commissioners and policy makers. conlribuling to informed deci5ion-making and systemic change. Newly Commissioned Lead Worker Senfice Reflecting our commitment lo delivering support where il 15 most needed, we have launched a new Lead Worker service in parlnership with Trident and Cranstoun. This initiative provides personalised. community-ba5ed support to vulneiable adutts with complex needs, extending our reach beyond the support centre. Page 2
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 TOGETHER, WE PREVENT HOMELESSNESS Peer Support Services During 2024 we mobilised our Peer Support Worker seNrce. which engages wrth people who are rough sleeping and experiencing multiple barriers to engaging wrth seNices. This team is built on Lived Experience all of our PeeT Mentors bring their own lived experience and insights into the role. This gives us a fresh understanding of the barriers that prevent people from engaging wrth support services and accommodation providers and Iherefore enable us lo work in a more trauma informed manner. This seryice places an emphasis on befriending, building trust and adopting a person-cenlred approach to moving away frorn rough sleeping. "When you found mé rough sleeping on the canal. it showed me you cared and I felt seen. It instilled my hope in setvices again.. Exempt Accommodation Navigator Service During 2024, eviction from supported exempt accommodation emerged as the most common reason for homelessness among single adulls over the age of 25. according lo figures from Birmingham Crty Council. To address this we have further developed our Exempl Accommodation Navigator Service. During Ihe firsl 12 months, 93 % of people engaging have sustained their accommOdatn. 64.1. have engaged wrth recovery services and S9. have reduced Iheir substance use. wth 3 achieving complete abstinence. In 8 city with a growing and unregulaled Exempt Accommodalion sector lover 30.000 units of accommodation). our Navigator service offers people support to sustain Iheir accommodation and provKles additional advocacy and resources lo enable them lo move away from homelessness. "Thx for everything. Il'm keeping welll because of you Thx" NRPF (No Recourse to Public Fund5) Over the past 12 months. we have idenlified an upturn in the number of people presenting who have no recourse to public funds, and as a resull, are excluded from accessing housing assistance via the Local AuthoTily. Our Restricted Eligibility Team conlinues to signposl clients to specialist advice through the Refugee and Migrant Cenlre, Brushstrokes and Migrant Help wherever possible. The team has worked with 249 people, a551Sting with rHJhls awareness. providing informalion and offering Support to engage with the Horne offe, accommodation providers and other specialist services. "I'm very grateful for Ihe support- SIFA is my family in the UK." Adult Support Hub In the final year of its contract. our A Support Hub (ASH) service, in parlnership with Birmingham Mind, supported 961 clients and was effectNe in delivering meaningful outcomes. 451 aul of 469 clients reported successful health and wellbeing oulcomes, 315 out of 332 achieved posrtive financial outcomes, 259 out of 269 achieved successful communrty outcomes. and 287 out of 306 achieved posilive accommodation-relaled outcomes. Vvith an average lengih in service of just 6.7 days and typicalty three points of contacl, our outcomes were irnpressive given the brief InteNenlion period. Hence. our service demonslraled strong efficiency in supporting individuals to slabilise and transition towards longer term support services. By providing supporting actions al the point where issues such as rent arrears. energy debt, or unstable housing were threatening the clients, wellbeing. our ASH team prevented escalation to slalutory services. This was both cosl*rfective for the system and impactful for clienls. as financial stability often unlocked improvements in health. wellbeing. and indeperKience. .you actually make me feel like a person. not another addict." Page 3
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Carly's slory "Carll,. a 47-year old female. was referred lo our service by a Soch31 Prescribing Link Worker from Compass, as hei mental health was declining due to her currenl housing situation. The client was currently housed in a shared flat with 4 other women in a refuge, folk)w"Ing her fleeing from a domesIallY violent relationship. The client slated that there was no living room in the propety due to the lounge area being utilised as another bedroom to be able lo accommodate more people. As a resuK, she fell forced to slay in her bedroom. We supported the client by referring her to a housing agency, Big Mommas Housing. that specialises in housing vulnerable women to support and met)tor them as well as house Ihem. The agency aims to build people's hope lo believe that everyone has a chance to succeed in life. lo value themselves and each other, help build theif confidence, reduce Iheir isolation and support them to participate in mainstream activities such as employment and education. The agency also provKles self-contained flats so. as a result of our referral. Carly will have the sense of independence that she wants, a5 well as being able to feel Safe and secure. TOGETHER, WE PROVIDE EMERGENCY SUPPORT OUT Support Centre conlinue5 to offer an open door to any adult over 25 who is experiencing hornelessness in Birmingham. As the centre is not commissioned by an external funder, we are able to maintain high degree of flexibility and offer an irnpactful serv1 to people who may be excluded from other support offers within the city. Our Homeless Intervention Team continues to engage wrth sector partners on a weekly basis via the Rough Sleeper Tasking Group. sharing updates on individuals and participating in plans to assist them in moving on from rough sleeping Into safe. sustainable accommodation. The team also engages with other seNices that may have a Tole lo play in enabling rough sleeping individuals to access and mainlain accommodation. Organisalions that relain a regular presence at SIFA Fireside include DWP, Health Exchange, Opticians, Hep C Trust and Chiropodisls. We have retained strong working links with Change Grow Live ICGLI. Adult Social Care, Rough Sleeper Outreach and the Domestic Abuse Hub. Birmingham City Council's Housing Team also maintain a daily presence on site. enabling people attending the Support Centre to access housing assistance on sile. Our Exempl Accommodation Navigators have made efforts lo engage with the Housing Team to ensure anyone placed in Exempt Aceommodalion by the Local Authority is offered the opportunity to access additional support where necessary. "The team were oulslanding with the patient, putting him in control with dignity. compassion. respect. understanding.. going above and beyond any service I've encountered under these circumstances." Partner agency Harry's story "Harry" presenled al our Support Centre in need of emergency support, seemingty confused and d&layed in his responses. He told us that he was in full-time employmenl but that he was recently evicted from his accommodation, and as a result. had been rough sleeping at New Street stab'on. e knew that Harry'5 accommodation oplion5 were limited a5 he was employed. We supported him to contact New1own Housing Options. who provided him with a list of options. Together, we contacted several of these providers, lo no avail. Upon investigating further, we questioned the fact thal Harry was working due lo his mental condition. We contacted his place of work, who confirmed that he was in employment bul would soon be let go due to his WOf5ening health condition, for which he was not seeking help. Page 4
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 After consulting our Safeguarding Lead and with concern about his vulnerability, we submitted an Adult Safeguarding form before again referring him to Bimiingham City Council's Housing Options Team, now with the knowledge that Harry would soon be unernployed and thai SIFA could 5UPPOrt him lo claim benefits. This assessment was successful, and Harry was gNen an emergency bed at Helen Dixon House for iwo weeks whilst we were able to support him wrth access to benefts. We are continuing to support Harry with his Universal Credit claim. whh is a key step towards accessing accornmodalion long term. TOGETHER, WE ENABLE RECOVERY FROM HOMELESSNESS Recovery During the las112 months. our Recovery leam has worked with over 500 people lo provide sUPPOrt with their recovery from horTiele55nes5 and tOY4ards independent living. providing assislance with development of digital skills, access to bank accounts. budgeting training and basic lrfe skills. 194 people have a150 accessed support to manage their finan via our ReCoVY Team. Our Recovery Team ha5 buim a number of partnerships wrth specialist services. including the PURE Project and Standing Tall. which offer people opportunities io engage with training and ernploymenl opportunrties. The Recovery Team has also continued lo provide opportunilies for people accessing SIFA Fireside lo engage with social and wellbeing actNtlies ranging from music and theatre groups lo cookery classes and lrfe skills development. Members of the music therapy group participated in a homelessness memorial event held at the Birmingham Peace Gardens in November 2024, while members of the theatre group have taken part in productions with Geese Theatre Company in Ial Iheatres. "I wlll never forgei my experience at SIFA. Case worker Mrs E. T. The besi forever. I do appreciate all 5UPPQrt I gol from all SIFA staff." A" Adult Lead Worker seiCe The mobilisation of the Adult Lead Worker service provided an opportunity for Ihe SIFA Fireside team lo grow again. with 8 Lead Worker roles, plus Team Leader and Service Manager roles created. Our Adull Lead Worker service represents a fresh move into community-based working, and engages people who have already obtained settled accommodation. and are making the final sleps in their recovery from homelessness and unsettled accommodation. This service priorilises engagement with local community assets. ranging from healthcare and other statutory SeICe$ lo volunteering and creative activities. The new Adult Lead Worker service is comMisOned foi 5 years and is being delivered in partnership with Trident. This represents a new partnership for SIFA Fireside. and going fomard. is an opportunity for us lo implement the learning arsd approaches we have identified across our existing services into a new area of housing related support. Tay's story "Tarf, is a former rough sleeper who first came to SIFA Fireside with a diagnosis of personality disorder and body dysmorphic di50rder. When filst engaging wrth the Health & Recovery Team (HR T). Tay lokj the lea that they felt isolated and regularly relied on cannabis to manage their mental health_ Through consistent involvement in Recovery activities such as Music Therapy and Geese Theatre sessions al our Support Cenlre, Tay dcovered a blossoming passion for singing and acting. Their confidence grew lo the point where Ihey were able lo perform solo pieces through these groups, and they later delivered rerriarkable perlormance before an audience at a SIFA Fireside event. Page 5
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Since then. Tay has gone on to perform in local venues and community gigs. secure a regular 5101 on a local radio show, and has built posrtive relalK)nships through widening their social nefv40rk. Tay's journey demonstrates the transformative role and positive impact of creative therapies in recovery. wellbeing, and social Integration. TOGETHER, WE WORK DYNAMICALLY Fundraising SIFA Fireside embarked on a bold strategic Journey guided by newly defined priorities for 2024-2026. Fundraising efforts have been aligned with these strategic goals. emphasising diversification of income sources beyond goveinrnent funding. A newly formed fundraising CoMmee now supports these efforts, ensuring key aieas of income generalion are identified. monitored. and achieved. Our programme of fundraising campaigns expanded further vth the continuation of the 'Hornelessness Doesn't Take a Holiday, Summer Campaign in partnership wilh One Black Bear and Ocean Outdoor, as well as the "Inequality Street" Chrislmas Campaign, which was supported by Leopard PR. Fundraising events were also a highlight of our year with thanks to new SUPF)Orters and long-standing corporate partners alike. The year saw our invoEvemenl in the Birmingham 24 Hour Run Against Homelessness, Surgeon's Techno Birmingham event at Ihe Hare and Hounds, Squire Patton Bogg's Inflatable Challenge and Cricket Tournament as well as BAM'S Charity Golf Day_ What we achieved Amongst other valuable grants, we successfully secured the folbw"ng'. Zurich Community Trust - £22,000 for Support Cenlre Costs Hortons EsTales - £7,000 for the refurt)ishment of the female s Shower room Garfield Weston Foundation- £10.000 towards Support Centre Costs The Eveson Trust- £10,000 towards the running of the Support Centre Stavoros Niarchos - £45.000 of Support CenlrelHomeless InteentiOn Team funding - The Souter Charilable Trust- £2.000 loward5 the running of Ihe Support Centre The Mon131 Charilable Trust- £5.000 towards Support Centre Costs Richard Kilcuppes - £1.500 of Support CenlrelHomeless Intervention Team funding - Albert Hunt- £10.000 towards Support Centre Costs Grimmit Trust- £3,500 towards the running of the Support Cenlre 29-May-61 - £10,OQO of Support CentrelHomeless Intervention Team funding Rodger and Douglas Turner Charrtable Trust - £3,000 towards Support Centre Costs SIFA Fireside reached well over half a million people across social media and the SIFA Fireside website attracted 185,000 user inleractions. We achieved press coverage in The Canary. BBC Online. BBC Midlands Today. Express and Star, What's On, and Birmingham Live amongst others. Our volunteering programme has flourished. with 43 regular volunteers in place and over 400 corporate teams contributing a lolal 017,982 hours of support. Financial review Financial position In summary. our total income of £1,897.203 (2024.. £1.546,6641 was applied to fund tolal expenditure of £1,759.155pl2024 £1.406,7561 which resulted in a surplus for the year of £138.04812024. £139,909) Of this £1,602,425 {2024-.£1,300.424) was expended in furtherance of our charitable activities meaning that out of every £1 given to the charity, 85p is used in furtherance of our charitable obieclives. Page 6
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Financial review Banking and Investment policy SIFA Fireside's primary inveslment 15 the cash deposits maintained th its bankers. Records of Ihese accounts are maintained in a secure location. all bank accounts are reconciled monthly on the accounling software, they are maintained and operated under Ihe principle of dual control and the opening and closing of bank accounts requires a Board Resolution. Banking arrangements are regularly reviewed, and deposils are onty maintained with re¢ognised financial inslilulions. Accounts will only be held with banks and building societies authorised by the Financial Services Authority as they are protected in the event of Iheir failure by the Financial Services compensat)n Scheme for deposits of up to £85,000. The costs and benefrts of the current and deposit accounts held are regularly reviewed lo ensure bank charges andlor rate of inleiest are competitive and that the credit iating of the deposit taking Inslitution is acceptable. SIFA FiresKle will aKvays maintain al least 50Yo of unrestricted reserves in an instant access account. Any fixed rate investments that Iimrt instant access require CEO and Chair of the Board approval. This policy allows the organisation easy access lo funds whilst receiving a compelrtive interest rate. Reserves policy Pur SIFA Fireside's purpose as a charity is to support our clients and this should be central lo decision making when reviewing our reserves policy. Having a reserves policy helps inform the way in which the charity manages its cash and will assist budget planning and explaining our approach to stakeholders. 11 should contribute lo the board of trustee's ability to balance the needs of current and future beneficiaries. lo provide stakeholders wilh assurances ihai tne cnarity is well managed an(J Ihai il has. ere appropriaie, a siralegy for building up reserves. Polic aims We aim ID hold enough reserves to ensure that we are able to continue supporting our clients in the short-term should an unexpected drop in income occur. Our income is from a range of sources which gives us resilience bul also means we need lo evaluate a wide range of faclors when setting our reserves policy. We will utilise designated reserves to improve Ihe organisalion's resilience to high impact risks thal we rnanage Ihiough our risk regislei such as the maintenance of our building. We will also ulilise designated reserves to support the development of the charrty's long lem strategic goals. Unrestricted Fund5 The reseNes that we have set aside Pfovide financial stability and the means for the development of our principal activily. We intend lo mainlain our reserves at a level which is at least equivalent to four months of expenditure to give us confidence that should an unexpected fall in income arise we will be able lo continue operating without an immediate reduction in our services. This will give us time to ie4>udgel and plan any necessary restructures. If the strategy OT risk register determine that we need to aim to sel aside funds for a specific purpose and, we have surplus restricted funds. then the board will be asked lo approve any new designations. Redundanc Fund Calculated based on redundancy costs associated with whole slaff team and assuming no staff lurnover so most expensive scenario. Page 7
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Financial review Buildin Fund As the principal hub for single adull support services in Birmingham our building is extremety important to our abilrty to operate. Our lease currently expires in 2026 and oui building is within an area which is subject to development linked lo HS2, which may mean we are given notice to end our lease earlier. We have a fully repairing lease on an old converted industrial unil and our potential liabilty for maintenance Is quite significant. For this reason. we aim to keep an amounl of £1 Ook in a designated building fund whsch means we can cover any emergency repairs to the building should an insurance dispute or non-insured evenl arise. Therefore our reserves target foT 2025126 is £747.859 12024125. £719.913). As al 31 March 2025, the reserves balance after accounting for oulslanding debtors and credrtors is £1.C67.458. Oue lo a number of contracts ending in March 2025 and uncertainly over renewal timelines we plan lo retain reserves held in excess of our largel for the next 12 months lo help us maintain our service delivery during this lirne. TOGETHER, WE LOOK TO THE FUTURE Future Plans SIFA Fireside wll continue to evolve Our services into places where people feel safe and supported, and where meaningful and lasting change is enabled. We can't do this alone though, and we will further develop our links with experts in Trauma Informed and Per50n-centred Practice to apply principles and procedures Ihat enable us lo delivei services in the right way. Our Exempl Accommodation Navigators have Identif emerging Ihemes regarding the barriers faced by people living in Exempt Accommodation and have underlaken the process of training to better resource themselves when provKJing support. Drug and Alcohol awareness, Naloxone administration and Hoarding awareness training will continue, to enable us to better respond to the Presenting needs of people engaging with the service. The Lead Worker service also represent5 a 5wnificant change in how SIFA Fireside delwers its services_ Lead Worker delivery lakes place within l¢xal communities, away from the Support Cenlre, and many Lead Worker clients may have no {recenll experience of rough sleeping_ With the roll out of this service. combined with Peer Support and Exempt Accommodation services. a signrficant amount of SIFA Fireside's face lo face work with clients now lakes place away from the Support Centre_ TOGETHER, WE MAKE AN IMPACT STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by rts governing document. a deed of trust. and constitutes a limited company. limited by guarantee. as defined by the Companies Act 2006. Page 8
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitrnent and appointment of new directors and trSleeS The director5 and trustees are appointed according to the rules detailed in the Memorandum and Articles of Association of SIFA Fireside. When new truslees are sought the board ar management will actively seek potenlial recrurt5 from within local networks and also consider recrurtment via an advertisement in local media and voluntary sector umbrella organisations, ensuring thal the board represents the widest possible Tange of communities and interest groups, irscluding SIFA Fireside's volunteers and clients_ Polential candidates for appointment are initially inteNiewed by the chair and then presented to the full board for the decision to appoint. New trustees can be co-opted onto the board in periods between AGMS and are then presented lo members for election al the next AGM. The trustee induction process is jointty led by the chair of Iruslees and the Chief ExecutNe and includes an introduction to the structures and govemance of SIFA Fireside. an operational overview of service delwery. sile visits. awareness training and detailed reading of policies and procedures. Following appointment. new trustees sign a confidentiality agreement and a conflrt of interest declaration. Organisational structure SIFA Fireside is led by a Chief Executive who reports directly lo the board of trustees. The Chief Executive is responsible for the day lo day running of the charty with support from a managemenl team Ihat consists of." Head of Finan Head of Services Head of Fundraising, Communications and Volunteering Decision making The board of Iruslees meets formally at least fNe times each year to make decisions informed by presentation and discussions with the Chief ExecLJtive and members of the management team. The lypes of matters reserved for the Board include the approval of the budget and the Annual Report and Accounts and ratification of the business plan. signrficant caprtal expenditure and the char-rty's pOIleS_ The board is also responsible for long4erm financial and strategic planning and for governance. while the management team takes operational decisions. In between formal board meetings. the Irustees meet lo review specrfic areas of operation in depth through structured workshops that aTe also attended by the senior leadership of the charity. There are also sub groups, for example the Fundraising Cornmiltee, comprising of trustees and senior management that monitor and direct specrfic areas of aclivily which report to the full board as required. The board delegate the daily operalional responsibility to the Chief Executive supported by the management team. The Chief Executive is responsible for ensuiing Ihal the charity deliver5 a setvice in accordance with its Objects and Mission slalement. that key performance indicatOTS are met. and for balancing the effective management of resources with creative development that keeps the interests of clients al ils heart. The day to day management of the seNice including Staff managemenl Is the responsibility of the management team. The chair and Chief Executive meet on a regLtlar basis to maintain information flow and the management team meets at leasl weekly lo ensure strategic relevance and operational effectiveness and to provide consultative stiucluie5 within the organisation. SIFA Fireside ha5 policies and procedures in place that describe key financial responsibilities and the agreed areas of delegation from trustee board to managernent. The Head of Finance takes responsibility for overseeing account recon¢ilplDn and reports directly lo Ihe Board on the management accounts and budgetary mallers. Key management remuneration Total Temuneration received by key management pef3onnel was £214.745 {2024.. £214,2461- Page 9
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Risk management and quality standards It is the charity's policy to have a risk managemenl framework which". - Atlernpts to identify. assess and manage SIFA Fireside's risks Supports SIFA Firèside's stralegic plan Assigns clear responsibilities for risk management Monrtors and tracks progress on managing risk Risks are recorded on the organisational risk register which are reviewed and scored quarterly by the Senior Leadership Team. The Board of Trustees reviews the risk register and the CEO updates the board about any changes. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03094905 (England and Wales) Registered Charity number 1049728 Registered office 48-52 Allcock Street Birmingham B9 4DY Trustees S M Barke55 (appointed 115125} G J Bate {resigned 211111241 M L Chidgey J F Foy (appointed 115125) C Groom M A Khan (appointed 17n1251 D J Ollier S B Partridge HAPyke D R Wakely (appointed 3011125) C D Wildman S J Young Company Secretary M Molloy Auditors Prime Chartered Accounlanls Stalulory Auditor Corner Oak 1 Homer Road Solihull B91 3QG STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees Iwho are a150 the directors of SIFA Fireside for the purposes of company lawl are responsible for preparing the Report of the Truslees and the financial slalemenls In accordance with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generalty Accepted Accounting Practicel- Page 10
SIFA FIRESIDE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES - continued Company law requires the trustees lo prepare financial statements for each financial year. Under thal law. the Iru5tees have elected lo prepare the financial statements in accordance wilh United Kingdom Generally Accepted Accounting Practice {Uniled Kingdom Accounting Standard5 and applicable law). Under cofflpany law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the chanlable company and of Ihe incorning resources and application of resources, including the income and expenditure. of the char51able company for that period. In preparing those financial statements. the Irustees are required to select suitable accounting policies and then apply them consistently-. observe the methods and pnnciples In the Charilies SORP. make judgements and estimates that are reasonable and prudent.. slate whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial slalements.. prepare the financial slalemenls on the going concern basis unless rt is inappropriate to presume that Ihe charitable company will continue in business. The tTuslees are responsible for keeping proper accounting records which disc105e with reasonable accuracy at any time the financial position of the charilable company and to enable Ihem lo ensure that the financial staternenls cOpIY with the Companies Act 20G6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilie5. In sa far as the trustees are aware.. there 15 no relevant audrt infomalion of Vffih the chantable companys auditors are unaware.. and the trustees have taken all step5 that they ought lo have taken lo make themsefves aware of any relevant audit information and to establish thal the audrtors are aware of that information. AUDITORS The auditors. Prime. will be proposed for re-appointment at the forthcoming Annual General Meeting. Repart of the trustees. incor company directors. on ..... orating a slralegic report, approved by order of the board of trustees, as the and signed on the board's behalf by.. C D Wildman - Trustee Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SIFA FIRESIDE Opinion We have audited the financial statements of SIFA Fireside (the 'chantable company'l for the year ended 31 March 2025 whth comprise the Stalement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of significant accounting policies. The fancIal reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Slandards {Uniled Kingdom Generalty Accepted Accounting Practice}. In our opinion the financial stslements.. give a true and fair view of the slate of the charitable company s affairs as al 31 March 2025 and of ils incoming resource5 and application of resources. including rts income and expendiluie. for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requyemenls of the Companies Act 20(. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, 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 lo our audit of the financial 513ternen15 in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accoTdance with these requirements. We believe that the audrt evKlence we have obtained is sufficient and appropriate to provide a basis lor our opinion. onclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have perfonned. we have not Klentified any material uncertainties relating to events or conditions that, individually or colleclivety. may cast significanl doubl on the chaTilable company s abilily lo continue as a going concern for a period of al least twelve month5 from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respecl to going concem are described in the relevant sections of thi5 report. Other Snfomiatlon The Iruslees are responsible for the other infofmation. The other information comprises the information included in the Annual Report, other than the IancIal statements and our Report of the Independent Audrtors Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicrtly stated in our report. we do not expte55 any fom) of assurance conclusion Ihereon. In connection with our avdil of the financial statements. our responsibility is to read the other information and. in doing 50, consider whether the other Infoimation is materially Inconsislenl with the financial slalemenls or our knowledge obtained in the audit oi otheMise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise lo a malerial mi55taternent in the financial statements themselves. If. based on the work we have perfortned, we conclude Ihal there is a material misstatement of Ihis Other informalion, we are required to report that fact. We have nothing lo report In this re9aid. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken In the course of the audit.. the information given in the Report of the TTuslees for the financial year foi which the financial statements are prepared is consislenl with Ihe financial statements.. and the Report of the Trustees has been prepared In accordance wrth applicable legal requirements. Page 12
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SIFA FIRESIDE Matters on which we are required to report by exception In the light of the knovAedge and understanding of the charitable company and its environment obtained in the course of the audit, we have not idenlifEd material misstatements in the Report of the Trustees. We have nothing to report in respecl of the following matters where the Companies Act 2006 require5 U5 to report lo you if, in our opinion". adequate accounting records have not been kept or return5 adequate for our audit have not been recewed from branches not V151ted by us.. or the financial statements are not irs agreement wrth the accounting records and retvrns., or certain disclosures of Iruslees. remuneratDn specified by law are not made". or we have not received all the Informaln and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees. Responsibilities. the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial slalemenls and for being satlsfied thal they give a true and fair view. and for such internal conlrol as the trustees detem)ine is necessary to enable Ihe preparation of financial stalernenls that are free from materkql misstatement. whether due to fraud or error. In preparing the financial statements. the Irustees are responsible for assessing the charrtable companrfs 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 to14uidale the charitable company or to cease operations, or have no realistic allemalive but to do so. Our responsibilities lor the audit of the financial ststements Our objectives are to oblain reasonable assurance about whether the financial stalemenls as a whole are free from material misstatement. whether due to frauLI or error. and to Issue a Report of the Independent Auditors that include5 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 detecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf. indivKlually or in the aggregate, they could reasonabty be expected lo influence the econom decIsnS of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularilies. including fraud is detailed below.. OUT approach to idenlrfying and assess•ng the risks of material misstatemenl in respect of irregularities. including fraud and non-complianee with laws and regulations, was as follows.. the engagement partr)eT ensured that the engagemenl team collectively had the appropriate competence, capabi111ies and skills lo identify or recconise non-compliance with applicable laws and regulations.. we identified the laws and regulation5 applicable to the company through discussions wrth director5 and other management, and from our commercial knowledge and experience of the Industry sector. we focused on specific laws and regulation5 which we considered may have a direct material effect on the finarbcial 51atemenls or the operations ol the company. including the Companies Act 2006. taxation legislation and data protection, anli-bribery, employment, environmental and heallh and safety legislation," we assessed the exlenl of compliance with the laws and regulations identified above through making enquiries of management and inspecling legal correspondence". e assessed the susceplibility of the company s financial statemenls to malerial misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to where they considered there was susceptibility lo fraud, their knoedge of actual, suspected and alleged fraud,- and considering the internal controls in place to mitKJate risks of fraud and non-compliance with laws and regulations. Page 13
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SIFA FIRESIDE To address the risk of fraud Ihr(Jugh management bias and overrtde of controls, we.. performed analytical procedures to idenlify any unusual or unexpected relationships: tested journal entries to identfy unusual Iransaclions". assessed whether judgements and assumption5 made m determinin9 accounling eslimates were indicative of potential bias. and investpated the rationale behind SnIfnI or unusual transactions. In response to the risk of irregularit¢es and non-compliance vth laws and regulations. we designed procedures which Included, but were not limited to.. agreeing financial s131ement disclosufes lo underlying supporting drKumentalion' enquiring of management as to actual and potential lrtigation and claims., and revEwing correspondence with HMRC and other relevanl parties. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likety il is Ihal we would become aware of non-eompliance. Audilyig standards also limrt Ihe audit procedu5 required to identify non-compliance with laws and regulations lo enquiry of the directors and other management and the inspection of regulatory and legal correspondence. il any. Material misslatemenls that arise due lo fraud can be harder to detect than those that arise from error as they rnay involve deliberate concealment or collusion. A further descriplion of our responsibililies for the audit of the financial ststements is located on the Financial Reportin9 Council's websile at www.frc.org.uklaudtlorsresponsibililies. This description forms part of our Report of the Independent Auditors_ Use of our report This report is made solely lo the charrtable 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 50 that we might slate lo the charilable company's members those mallers we are required to slate to them in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume ie5ponsibility to anyone other than the charilable company and the charitable companvs members as a body, for our audit work, for this report. or for the opinions we have formed. Jeremy Kilson BA FCA (Senior Slalutory Auditor) for and on behalf of Prime Chartered Accountants Statutory Auditor Corner Oak 1 Homer Road Solihull B913QG Date.. Page 14
SIFA FIRESIDE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 440.089 397 440,486 428,802 Charitable activities Charitable Activities direct costs Grants and contracts 1.153 1.153 1,430,059 1,430,059 1.095,813 Investment income 25,504 25.504 22,050 Total 466.746 1.430,456 1,897,202 1.546,665 EXPENDITURE ON Raising funds 156.730 156.730 106,332 Charitable acllvities Charitable Activities direct costs Support Costs Governance costs Premise5 Costs (630,470) 633.491 41,790 103.402 1,428,126 26.088 797,656 659.579 41.790 103.402 556,090 611,592 40,528 92,214 Total 304.943 1.454.214 1.759.157 1.406,756 NET INCOMEI(EXPENDITUREI Transfers between funds 161.803 (13.594) (23.7581 13.594 138,045 139,909 17 Net movement in funds 148,209 (10,164) 138,045 139.909 RECONCILIATION OF FUNDS Total funds brought forward 906.173 342.511 1.248.684 1.108,775 TOTAL FUNDS CARRIED FORWARD 1.OS4.382 332.347 1,386,729 1,248,684 The notes fomi part of these financial statemenls Page 15
SIFA FIRESIDE (REGISTERED NUMBER: 03094905) BALANCE SHEET 31 MARCH 2025 2025 Total fund$ 2024 Total funds Unrestncted Restricted funds funds Notes FIXED ASSETS Tangible assets 12 258.001 258.001 285,305 CURRENT ASSETS Debtors Investments Cash al bank 13 14 227.634 260.533 507.038 227.634 260,533 839.384 291,739 258,296 683,653 332.346 99S.20S 332,346 1,327,551 1,233,688 CREDITORS Amounls falling due within one year 15 1198,823) {198.823) (270,309) NET CURRENT ASSETS 796,382 332,346 1.128.728 963,379 TOTAL ASSETS LESS CURRENT UABILITIES 1,054,383 332.346 1.386.729 1,248.684 NET ASSETS 1.OS4.383 332.346 1.386.729 1.248.684 FUNDS Unrestricted funds Reslricled funds 17 1,054,383 332,346 906.173 342,511 TOTAL FUNDS 1.386,729 1.248,684 The financia statements were approved by the Board of Trustees and aulhorised foi issue on and were signed on its behaff by". C ¢-Th. &viWo C D Wildman - Trustee The notes form part of these financial statements Page 16
SIFA FIRESIDE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from opewating activitie5 Cash generated from operations 158.381 131.248 Net cash provided by operating activities 158.381 131.248 Cash flows from investing activities Purchase of tangible fixed assets Interest received Increase in current asset investments 125,917) 25,504 {2.237 (31.7721 22,051 {258.2961 Nel cash used in investing activities (2,650) 1268.017) Change in cash and cash equivalents in the reporting period Cash and cash oquivalents at the beginning of the reporting period 155,731 {136,769} 683.653 820.422 Cash and cash equivalents at the end of the reporting period 839.384 683,653 The notes form part of these financial slaternents Page 17
SIFA FIRESIDE NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reportlng perSod la5 per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decreasellincreasel in debtors {Decrease}lincrease in creditors 138,045 139,909 53.220 12S,504} 64,105 (71,485) 51,584 {22 0511 (47,851) 9,657 Net cash provided by operations IS8.381 131,248 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow Ai 31.3.25 Net cash Cash at bank and in hand 683.653 155,731 839,384 683,653 155.731 839.384 Liquid resources Deposits included In cash Current asset investments 258,296 2,237 260,533 258,2% 2,237 260,533 Total 941.949 157,968 1,099,917 The notes form part of these financial statements Page 18
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the flnancial statements The financial statements of the charitable company, which is a public benefit entrty under FRS 102. have been prepared in accordance wilh the Chaiilies SORP {FRS 102) 'Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo chariiies preparing their accounls in accordance with the Financial Reporting Standaid applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 20191.. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, and the Companies Act 2006. The financial statements have been prepared under the hiStOral cost convention. The linancial slalements are piepared on a going Conrn basis under the historical cost convention, modified lo include certain items al fair value. The financial statements are Psented in sterling whh is the funclional currency of the charity. Income All income is recognised in the Statement of Financial Activtlies once the charity has enlillemenl lo the funds, It is probable thal the income will be received and the amount can be measured reliably. Expenditure Liabilrties are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo thal expenditure. rt 15 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have been alk)cated to activities on a basis consislent with the use of resources. Tangible fixed assets Depreciation is provmled at the followng annual rates in order to write off each assel over its estimaled useful life. Long leasehold Fixtures and frttings 4°/0 on cost 33.33Vo on cosl and 20% on cosl Taxation The chaiity is exempt from corporalion tax on rts charrtable actfvrties. Fund accounting Unreslficted funds can be used in accordance with the charilable objectives at the discretion of the trustees. Reslricled funds can onty be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the rlUre and PLtrpose of each fund is included in the noles lo the financial stalemenls. Pension costs and other post-retlrement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable CoMpanS pensM)n scheme are charged lo the Statement of Financial Activities in the period lo which they relate. Page 19 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS_ continuèd FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Donations 440.486 428,802 INVESTMENT INCOME 2025 2024 Oeposrt account interest 25,504 22,050 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Charitable Activilies direct costs Grants and contracts Grants Granls 1,153 1,430,059 1.095,813 1,431,212 1,095,813 Grants received. included in the above. are as follows- 2025 2024 Emigrant Support Programme Oak FOundatn National Lottery - Recover & Reconnent BCC ASH inc protect Othef income Home Off Ice EUSS Grant Homeless Transition Worker BCC Housing Options Swire Trust Garfleld Weston Geese Theatre Phoenix Pharmacy National Lottery- Cookery Sessions WMCA- Lol D - Spot Purchasing Living Well B&CE Conslruction Employability WMCA - Social Networks BCC Public Health- OHID Housing support BCC winter food aid Lottery - Cost of living BCC Housing - Peer Support Worker Service BCC Housing - Persons from Abroad Adull Navigator BCC Publk Health - Exempl Adult NaValOr Service BCC- Adult Lead Worker 14,760 112,476 159.135 311.191 1.153 14.250 64,880 138.888 490,500 4.289 81,600 96,228 6,250 6,6S7 5,961 700 3.650 4,800 20,000 4.940 22,000 8,665 5,000 75,000 2,592 29,500 9.453 45.253 96.886 13.333 3.409 5,000 8.150 31.419 4.000 94.869 71.616 365,447 93,125 1,431.212 1,095,813 Page 20 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 RAISING FUNDS Raising donations and legacles 2025 2024 Staff costs Marketing and fundraising 145,714 11,016 88.116 18.216 156,730 106,332 CHARITABLE ACTIVITIES COSTS Support costs Isee note 71 Direct Costs Totals Charitable Aclivrties direct costs Support costs Governance costs Premises COStS 797.656 797,656 659,579 41.790 103,402 659,579 41,790 103,402 797,656 804,771 1.602.427 SUPPORT COSTS Management and admin costs Governance osts Finance Totals Support costs Governance costs Premises costs 658.619 960 659,579 41.790 103,402 41.790 103,402 762.021 960 41.790 804.771 NET INCOMEIIEXPENDITURE) Nel Incomel{expenditurel is slated after chargingl(credrting)_' 2025 2024 Auditors, remuneration Depreciation - owned assets 11,383 53,221 11,100 51,585 Page 21 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no Irustees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees. expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 10. STAFF COSTS 2025 2024 Wages and salaries Other pension costs 1.130,258 26.794 908.879 21,558 1,157,052 930.437 Total remuneration received by key management personnel was £214,745 (2024- £214.246}. Key management personnel compiises the Chief Executbve and other members of the management team. The average monthly number of employees during the year was as follows.. 2025 2024 35 All staff The number of employees whose empk)yee benefrts (excluding employer pensK)n costs) exceeded £60,000 was.. 2025 2024 £60.001 - £70,000 The average fulktirne equivalent employees for the year was 31 {2024'. 30). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled funds Reslricled funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 426.045 2.757 428,802 Charitable activities Grants and ¢ontiatts 701 1.095.112 1,095.813 Investment income 22 050 22,050 Total 448,796 1,097.869 1,546.665 EXPENDITURE ON Raiswig funds 106,332 106.332 Page 22 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestiicled Restricted funds fund5 Total fund5 Charitable activilies Charitable Activities direct cosls Support costs Governance costs Premises costs (435.343) 596,100 40.528 92.214 991.433 15.492 556,090 611,592 40,528 92,214 Total 399.831 1.006.925 1,406,756 NET INCOME Translers between funds 48,965 {11,751) 90.944 11.751 139,909 Net movement in funds 37,214 102.695 139,909 RECONCILIATION OF FUNDS Total funds brought foryRrd 868,958 239,817 1.108.775 TOTAL FUNDS CARRIED FORWARD 9C6,172 342,512 1,248,684 12. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Tota15 COST Al 1 April 2024 Additions 449,507 241.973 25.917 691.480 25,917 At 31 March 2025 449.507 267,890 717,397 DEPRECIATION At l April 2024 Charge for year 233,741 17,980 172,434 35.241 406,175 53.221 Al 31 March 2025 251.721 207.675 459.396 NET BOOK VALUE Al 31 March 2025 197,786 60,215 258,001 At 31 March 2024 215.766 69,539 285,305 Page 23 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prepaymenls 21.600 2.000 268.139 2.000 225,634 227.634 291.739 14. CURRENT ASSET INVESTMENTS 2025 2024 Amounts held on short teTm deposits 260,533 258,296 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade credilors Social security and olher taxe5 Other creditors Accruals and deferred income 39.64S 24,242 12,163 122,773 82,391 20,957 13.270 153,691 198,823 270.309 16. LEASING AGREEMENTS Minimum lease payments under non-cancellabie operating leases fall due a5 follows.. 202S 2024 Within one year Between one and five years In more than five years 65,750 263,000 394,501 20,048 723,251 20,048 Page 24 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS Nel movemenl in funds Transfers between funds At 31.3.25 Al 1.4.24 Unrestricted funds General fund Designated fund - Building repairs Designated fund Redundancy 744,699 100,000 61,474 161.804 (13.594) 892,909 100,000 61.474 906.173 161.804 (13.5941 1.054.383 Reslricted funds BCC ASH BCC Housing - Peer Support Worker Service BCC Housing - Persons from Abroad Adult Navigator BCC Public Health - Exempl Advll Navigator Service BCC publ Health- OHID housing support B&CE Construction Employabilrty Draw My Cty Art Fund D Rowe Fundraiser Emigrant Support Programme Garfield Weston Geese Theatre Homeless Transition Worker IHG Home Starter Packs LNing well National Lottery - Ctsjkery Sessions National Lottery - Recover & Reconnect Oak Foundation Other Small restricted funds RSI-LolH Social Enterprise Investment Fund WMCA- Lol D - Spot Purchasin9 WMCA_ Social NeorkS BCC - Adult Lead Worker 52,270 144.100 8,169 110,887) 10.887 23.662 120.0151 3,646 (237) 237 4.896 13,564 8.083 12.979 13,564 400 400 11.088) 1.088 3,625 4.433 13) (411) 112.706) (966) 411 19.796 7.090 966 3.037 3.650 12.597 3,037 3.650 4S.742 33.146 (6) (43) 305 417 202,060 2.216 415 262 417 202,060 2.350 147 24.400 134 12681 24,400 342.511 (23.759} 13,594 332.346 TOTAL FUNDS 1,248.684 138,045 1,386,729 Page 25 continued..
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- conlinued Net movement in funds, included in the above are as follows". Incoming resources Resources expended Movement in funds Unrestricted funds General fund 466.746 (304,9421 161,804 Reslricted funds BCC ASH BCC Housing Options BCC Housing- Peer Support Worker Service BCC Housing - PeTsons from Abroad Adult NavigaloT BCC Public Health- Exempt Adult Navigator Service BCC Public Heafih- OHID housi support BCC winter food aid Draw My City Art Fund D Rowe Fundraiser Emigrant Support Pragramme Garfield Weston Geese Theatre Homeless Transition Worker IHG Home Starter Packs National Lottery- Recover & Reconnect Oak Foundation Other small restricted funds WMCA- Lol D - Spot Purchasing WMCA- Social NetWOTks BCC- Adult Lead Worker 311,191 96.886 (355,291 196.886 144,1001 94,869 1105,756) (10,8871 71,615 191,630) {20,01 $1 365.448 1365,6851 12371 31,419 4.000 41XI (23,3361 (4.0001 8,083 400 11.088} 808 131 (1,Q88} (13.942} {13.336) 13.820) 157.9581 (9661 1125,9881 {112.481} 143} 14.8661 18.4181 168,725) 14.750 13.333 3.409 45.252 112,706 19661 33,146 159.134 112.475 1431 134 (2681 24,400 5.000 8.150 93.125 1,430,456 11,454,21 Sl 123,759) TOTAL FUNDS 1.897.202 11,759,157> 138.045 Page 26 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS . continued Comparatives for rnovement in funds Net movemenl in funds Transfers between funds Al 31.3.24 At 1.4.23 Unrestricted funds General fund Designated fund - Building Yepairs Designated fund - Redundancy 868.958 48,966 1173.2251 100,000 61.474 744,699 100,000 61,474 868.958 48,966 {11,751} 906.173 Restricted funds BCC ASH BCC Housing - Persons from Abroad Adult Navigator BCC Public Health- OHID housing support BCC winter fo¢ aid B&CE Construction EmpFoyability Draw My Crty Art FurKI D Rowe Fundraisef Emigfant Support Programme Home Office EUSS Grant Homeless Transition Worker IHG Home Starter Packs JLR Crisis Support Living well National Lottery - Cookery Sessions National Lottery - Recover & Reconnect Oak Foundation Other small restricted funds RSI-LotH Social Enterprise Investment Fund Swre Trust WMCA- Lol D - Spot Purchasing WMCA - Social Nelworks 52,270 52,270 23,662 23,662 4.896 {3) 4,751 1870) 19851 4.896 8,813 13,564 870 985 3.625 3.625 (1.0671 3.228 13521 (131 3,037 3.650 6.479 1,(7 16.568 19,796 352 13 3.037 3,650 12,597 6.118 305 305 417 202.060 417 202.060 16,2501 (2.211} 415 6,250 2,211 2,216 2,216 415 239,817 90,943 11.751 342.511 TOTAL FUNDS 1.108.775 139,909 1,248.684 Page 27 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued Comparative nel movemenl in fund5. included in the above are as follows.. Incoming resources Resources expended Movemenl in funds Unrestricted funds General fund 448.795 (399.8291 48,966 Restrfcted funds BCC ASH BCC Housing Options BCC Housing - Peer Support Worker Service BCC Housing - Persons from Abroad Adult Navigator BCC Public Health- Exempl Adult Navigator Service BCC Public Health- OHID housing support BCC winter food aid B&CE Construction Employability Draw My City Art Fund O Rowe Fundraiser Emigrant Support Programme Garfield Weston Geese Theatre Home Office EUSS Grant Homeless Transition Worker IHG Home Starter Packs JLR Crisis Support Living well Lottery- Cost ol Living National Lottery- Cookery Sessions Natior)al Lottery - Recover & Reconnect Oak Foundation Other small restricted funds Swiie Trust WMCA- Lot D_ Spot Purchasing WMCA- Social Netsrs 490.500 96.228 (438.230> 196.228} 52,270 2.592 {2.592) 29,501 (5.839) 23,662 9,453 {9.453) 8,665 5,000 4,940 950 {3,7691 15,0031 11891 11,8201 1985} (14,251) {6.6671 15.9611 15,3561 178,3721 (352) (1,513) 116.963) (75,000) 4.896 131 4,751 18701 19851 14,251 6,667 5.961 4,289 81,600 (1,067) 3.228 (3521 (13) 3,037 1.500 20.000 75.000 3.650 138,888 64.880 305 6,250 4.800 22.000 3.650 6.479 1132,4091 (64.8791 305 16,2501 12,2111 415 {12,5001 (7,0111 {21,5851 1.097.870 (1,006,927) 90,943 TOTAL FUNDS 1.546.665 {1.406.7561 139,909 Purposes of Restricted Funds: Birmin ham Cit Council Adult Su rtHub ASH The ASH is a prevenlion-focused servte which provides vulnerable adults wrth support in the comrnunily lo help them maintain Iheir accomodation. Birmin ham Cil Council - Housin Solutions Funding to support Covlocation of BCC Housing Options team al SIFA Fireside. BCC Housin Persons from Abroad Adult Navi ator Page 28 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS - continued To work lo support those wilh re51ricted eligibility to public funds lo regularise their immigration status and build pathways for them lo move out of rough sleeping BCC Public Heabth- OHID Housin ort Purchasing provision to support those with addrction issues accommodated in the crty with a variety ol things including travel, essential home items. obtaining passports and ID and costs lo sustain accommodatn. BCC Public Health - Exem l Adull Navi ator Service Provision of long term sUPPOrt lo slabilise accommodation and lacililate engagement in substance misuse treatment BCC Winter Fo Aid Emergency fund to 5UPPOrt wrth increasing food costs for the support centre during cost of living crisis. B&CE's Charitable Trusl - Construction Em abili Improving the employability skillsets and opportunities available for those who are experiencing homelessness in Birmingham - specrfically within Ihe construction sector. Oraw m Arts Fund Fund developed by local artists to support provision of art workshops. D Rowe Fundraiser To provide rough sleepers wrth sleeping bags and other essential items DWP Intenswe empioymenl assistance programme called Step Ahead deliveied by full-time specialist employment workers basecl at SIFA Fire$e IHG Home Starter Packs To 5UPPOrt clients placed in exempl accommodation with essential home items to facilrtale tenancy sustainment Irish Government Emi rant Su ort Fund ESP Grant lo help support Irish citizens and clients of Irish orwJin to access our services. Garfield Weston Connected pathways. Anti-slavery and Homelessness Project with the Wesl Midlands Anli-slavery Network lo conlribute to the budget for the provision of an Anti-slavery & Homelessness Development Off icer based at SIFA FiresKIe. Geese Theatre Using theatre and drama lo share hidden stones and build resilience and skills for people experiencing homele55ne55 in Birmingham Home Office- EU Selllernenl Scheme Grant Fundin Funding to delivery practical support lo vulnerable or al-risk EU. EEA and s$$ citizens and their non-EU family members to help them make their EU Settlement Scheme application. Birmin ham Cit Council - Homeless Transition Worker Service Provision of hous¥ig and wellbeing 5UPPOrt to vulnerable people referred from the named service5 and moving Into accommodation without commissioned support. JLR Crisis Su ort Page 29 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continuèd FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued To provide rough sleepers wrth sleepin9 bags and other essential rtems Ltvin Well Funding provided by the Living Well Consortium to provide cooking workshops lo clients. National Lotte Cookin sessions Cooking lessons for people experiencing homelessness in Birmingham National Lotte - Recover and Reconnecl Working with peop through their recovery lo living fullilling. indepèndenl Irves Oak Philanlhro This funding is from the Oak Foundalion to enable u5 to undertake or9ani5ational developrnenl work. This will enable us lo improve outcomes for clients Ihrough improved operating systems. OPCC Anli-slave & Homelessness Pro ect Anti-slavery and Homelessness Pro)ecl with the West Midlands Anti-slavery Network lo provide an Anti-slavery & Homelessness Development Officer based al SIFA FireSe Phoenix Pharmac Phamacy outreach Wrker in partnership wrth University of Birmingham and NHS RS14 Engaging with clients to provide personalised support lo move on from rough sleeping and sustain accommodation. West Midlands Combined Authori -Rou h Slee rs Initbattve - Lol H The project supports individuals wrth a history of rough sleeping and homelessness lo establish and strengthen social and community based nelworks, and to sustain lenancies lo prevenl rough sleeping and guard against a retum to rough sleeping. ocial Enter rise Inveslmenl Fund Grant awarded in 2011 was used lo acquire curient premises in Allcock Street, Digbelh on a 25 year lease and to renovate the building according to our specifications. Steel Charitable Trus1 Funding to Contribute towards the provision of our drop in service. offering practical a55151ance to people who are workers based at SIFA Fiieside. Swire Trust Connected pathways. Anli-slavery and Homelessness Project with the West Midlands Anli-slavery Network to contribute lo Ihe budget for the prowsion of an Anli-slavery & Homelessness Development Officer based al SIFA Fireside_ Wesl Midlands Combined Aulhorit Rou h Slee ers Initiative - Lol B Women specific service provision to prevent and resolve rough sleeping crisi5, especially where abuse or explortation May be a factor. West Midlands Combined Aulhorit - Rou h Slee ers Inrtiative - Lot c Provision of legal advicelsupport to those with problematic status in the UK impacting rough sleepg. Includin9 tèmporary >¢commodation as a p2thway to resolving slalus and rights. return lo country of origin or into work. Wesl Midlands Combined Aulhotit - Rou h Slee ers Initiative - Lot D Page 30 continued...
SIFA FIRESIDE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS - continued Outcome focused. spot purchases and to er)able individual solutions foT people Sleeping rough. allowing flexible. personal planning and delivery. WMCA Social NeOrk The Projecl supports individuals with a history of rough sleeping and homelessness to establish and strengthen social and community based netsvorks. and to sustain tenancies to pievent rough sleeping and guard against a return lo rough sleeping. RELATED PARTY DISCLOSURES Theie were no related paty IransactK)ns for the year ended 31 March 202512024-. £Nill. 19. SHARE CAPITAL The company is limrted by guarantee withoul share capital_ In the event of the company being wound up each member has a liability restricted to £10. As at 31 March 2025 there were 812024. 81 members of the chanlable company. 20. TAXATION As a charrtable company. SIFA Fireside. is exempt from tax on income and gains falling within sections 481489 of the CTA 2010 or seCtn 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo rts charrtable obiecls. No lax charges have arisen within the chafltable company. Page 31
SIFA FIRESIDE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations 440,486 428,802 Investment income Deposit account interest 25,504 22,050 Charitable activities Grants 1.431.212 1,095,813 Total incoming resources 1.897.202 1,546,665 EXPENDITURE Raising donations and legacies Wages Marketing and fundraising 145.714 11.016 88,116 18.216 156.730 106.332 Charltable aclivities Wages Client Activities Travel Drop-ln Activities Recruitment Subcontractors No description 595,642 25.944 6,440 19.031 4,885 145.714 419,193 18,576 5,205 18,476 6,524 175.235 187,119) 797,656 556,090 Support costs Management and admin costs Vvages Pensions Rates and water Insurance Lighl and heat Telephone Postage and slalionery SundTièS Gifts in kind IT Costs Consultancy Equipment hire Carried foNar¢J 358.495 26,794 67.599 24,202 25.325 8,145 2,259 37.640 82,361 54.709 1,625 3.057 692.211 372,142 21,558 66,859 20,180 25,355 10,830 1,965 23,387 52.523 37,134 {3,376} 5,373 633,730 This page does not form part of the statutory fanCIal stalemenls Page 32
SIFA FIRESIDE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 202S 2025 2024 Management and admin costs Brought forward Maintenance contract charges Property maintenance Long leasehotd Fixtures and Iittings 692,211 5,588 11.002 17,980 35,240 633,730 7,8ChS 9,802 17,980 33,604 762,021 702.922 Finance Bank charges 960 884 Governance costs Wages Audtlors, remuneration 30.407 11.383 29.428 11.100 41,790 40.528 Total resources expended 1.759.1 S7 1.406,756 Net income 138.045 139.909 This pa9e does not fom) part of the statutory financial ststements Page 33