R£GISTERED COMPANY NUMBER: 03191544 (England and W2le$) REGISTERED CHARITY NUMBER: 1056192 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR 700 CLUB CPT Chart¢r¢d C¢rtifi¢d Accountants ststutory Auditors 80 Victoria Road Darlington County Durham DLI 5JG
700 CLUB CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 Page Report of the Trustee$ Report of the Independent Auditor5 7 to 10 Statement of Financial Activities 11 to 12 Balance Sheet 13 Cash Floiv Statement 14 Notes to the Cash Flow Statement 15 Notes to the Financial Statements l6 to 34 Detailed Statement of Financial Activities 35 to 37
700 CLUB REPORT OF THE TRUSTEES for the Year Ended 31st March 2024 The trustees who are also th'rectors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trnstees have adopted the provisions of Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the Charity are the relief of those persons in tbe North-East of England (being the area to the East of the Pennines stretching from and including the county of North Yorkshire in the South to the border with Scotland in the North) who are in conditions of nee(L hardship or distress. in particular by the provision of temporary accommodation. The overall strategy of the Charity 15 shaped by its charitable objects and exemplified in the Annual Review. The primary measure of success is that individuals are able to live independently. without suppoQ in accommodation of their choice. Overcoming the barriers to this includes addressing issues like addiction. anti-social behaviour. and skills deficit. Projects are all presented in the Annual Review. The Trustees, short-tenn objective is to maintain and sustain current business by ensuring that ndIng is in place and that new funding streams are identified. Longer tenn objectives are set out in the 5-year business plan. Following the success of the Church View Apartments Project, the Trustees are progressing a plan to provide longer-term accommodation for difficult to manage individuals who ffquire intense support. STRATEGIC REPORT Achievement and performan¢e Charitable activities Please see Annual Review. Funding is in place to secure all projects in the desited timescale. No material expendIre was incurred in the work of fundrdising. Charitable income is gained using the charity's existing resources. The charity has responsibility for approximately 150 people eacb day. Improved housing status translates into improvelnents in other areas. For example, lower levels of druglalcohol consumption. greater uptake of treatment services, lower levels of drug related crime. higher levels of public safety, less long-lenll use of medical services. The organisation has developed specialist skills in working with those experiencing addiction. All projects have different perfonnance indicators that align with the interests of the fiinder. Investment performance The chltY does not hold any investments. Page I
700 CLUB REPORT OF THE TRUSTEES for the Year Ended 31st March 2024 STRATEGIC REPORT Achievement and performance Internal and external factors Change of political administration is a risk factor - as change risks adjusting fijnding priorities. The charity is strongly supported by the current Labour administration and by the Local Authority- Its work is aligned to the priorities laid out in th¢ local strategy and is contributing to its revisio Its work aligns to the 2021-26 'Conununity Safety Plan,. The acquisition of fvnding, and budgets elsewhere, are being squeezed by the Cost-of-living crisis. The organisalion has managed to negoliate through this, lifting contract levels and. as a result, lifting staff salaries. This has helped to relain staff and matnlain services. The country is tuentlY experiencing a housing crisis. The number of homeless people has risen significantly, there are high numbers in temporary accommodation, and the private rental sector is shrinking beeause of increased govemment legislation and the failure of the buy to let market. Finding accommodation for service users to move to is extremely hard. Finaneial revieiv Financial position The charity had a overall surplus of £335,785 for the year ended 31 March 2024 (2023 £186,339). This consisted of a surplus on unrestricted funds of £200,584 (2023 surplus £281,608) and a surplus of £135,200 (2023 deficit £95,269) on restricted llds. The total fvnds available to the charity at the year ended was £2,338,187 (2023 - £2.002,403) consisting of £766, E37 (2023 - £565,553) of unrestricted funds and £1,572,050 {2023 - £1,436,850) of restricted funds. The charity is financially strong and is operating with a surplus. The development of Church View Apartments and the revenue it provides give tbe charity a strong foundation. Principal funding sources The financial position of the charity has remained stable. Where funding streams have come to an end, new money has been found. Local Authority fundiiig is acquired through public tender. Risk of loss of contract income is minimised by high emphasis on quality of delivery. The Board of Trustees review the company risk register on a regular basis. Investm¢nt policy and objectives The Charity does not have a policy for the selection of investments or for the selection of thosc who might receive monetary grants out of the assets of the charity. Reserves poliey The 700 Club has a reserves policy. The Board consider that it is prudent to set aside. in reserves, an amount equivalent to three months operating costs calculated and reviewed annually. Only some of the company's reserves are liquid. Funds in deficit The Charity does not have any funds materially in deficit. Page 2
700 CLUB REPORT OF THE TRUSTEES for the Year Ended 31st March 2024 STRATEGIC REPORT Future plans The Trustees intend to maintain the current projects for tUre periods. The development of a specialist project for individuals who have failed to thrive along the existing homelessness pathway has been set aside because of escalating c05t. and the grants won will be directed to family accommodation. The hope, in the next financial year, is to develop 12 units of family accommodation in partnership with Homes England as a way of meeting the crisis of those in ternporary accommodation. The charity is moving towards a situation where it is sustainable in the long temi. Local Authority contracts have been assigned for the next five years. STRUCTURE, GOVERNANCE AND MANAGEMEf4T Governing document The charity is controlled by its governing document. a deed of tNst. and constitutes a limited company, lirnited by guarantee, as defined by the Companie5 Act 2006. The 700 Club is a company limited by guarantee. incorporated on 26 April 1996 and registered as a charity on 17 June 1996. The charitable company was established under a Memorandum of Association which established the objects of the charitable company and is govemed under ils Articles of Association. The Memorandum and Articles of Association were both amended by Special Resolutions dated 8 January 1998, 10 September 1998. 22 November 2005, 19th February 2015 and 14th June 2019. The Memorandum of Association contains various power5 (such as powers to acquire property, to boOW money, to employ staff and lo provide advice and support) exercisable in pursuit of tbe Objects. Frotn 5 Mareb 2015 the Charity registered as an RSL with the Homes and Cornrnunities Agency (4811), now regulated by the Regulator of Social Housing. Recruitment and appointment of new trustees The 700 Club dlways welcomes xpproaches from people interested in joining the Board. The Board Members themselves take a proactive approach to re¢ruitment, speaking with people they feel would have something to contribute to the Charity At the Board level. Prospective Board members receive a welcome pack including a 11 explanation as to how the 700 Club operates and what would be expected of them as a member of the Board. The explanation includes their responsibilities undcr both the Companies Acls and the Charities Acts. Prospective Board members stsrt with the 700 Club as fornial attendeeCo-optCd Members until the Annual General Meeting takes place and they either become Directorsrrrustees or they remain fomlal attendees/co-opted members because that fits in with their other role(s) and the demands on their time. Organisational structure This is covered elsewhere in the Annual Review. Decision making The Boar(VTrust¢es are advisory and off¢r scrutiny over the operational aspects of the charity. Senior Management Meetings are the primary decision making context (minutes are stored) for operational matters. Page 3
700 CLUB REPORT OF THE TRUSTEES for the Year Ended 315t March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of nelv trustees A5 part of their induction, the Board members receive a welcome pack that contains relevant Charities Act and Companies Act details, explanation of the Trustee role and responsibilities and relevant job description. details about the Board structure, code of practice, conflict of interest policy and procedures, 700 Club Board level governance principles, Memorandum and Articles of Assoeiation, long temi strategy, current business plan. detsils about various projects within Ihe 700 Club and any relevant fornis. They are also invited to look round 700 Club projects and rneet the staff and volunteers from various work streams. They are invited to other internal and external meetings to improve the knowLedge, skills and understandings relevant to the voluntary work they do for the Charity. Key management remuneration The Board set the salary increments on annual basis. Salary levels are set using comparntive data from similar organisations. The CEO and Head of Sttategy and Development's salary is assessed relative to parallel roles elsewhere. Wider network The charity has no fonnal relationship with any other body except tbrough the provision of revenue (contracts. grants, etc). Strong operational partnerships are in place, however, with the Police, Local Authority, and CAB. The charity forn]s partnerships to assist service users reach their goals. The charity has been instnllnental in both the development of Darlington Connect and in administering the GoVnMent Household Support Funding. It hold funds for both. Risk management The 700 Club has developed, established, and implemented a range of relevant policies, controls, and procedures to identify. mitigate and monitor the risks to which the charitable organisation may be exposed. In every area of its cliaritable bu8iness, namely people (¢lients, staff, volunteers, and visitors). finance, health and safety, quality, environmenL pToperty. and reputation, it tries to minirnise risks and optimise positive outcon]es. REFERENCE AND ADMINISTRATIVE DETAILS ReElStered Company number 03191544 (England and Wales) Registered Charity number 1056192 Registered office Roadway House Beaumont Street West Darlington County Durharn DLI 5SX Trustees Mrs M Stoney Trustee (resigned 211912023) Dr S Waterworth Tlustee L Excell Trustee (resigned 211912023) L Vasey Chairperson S Hamilton Trustee D Allaway Trustee C D Hunter Treasuffr Cotnpany Secretary S Hamilton Page 4
700 CLUB REPORT OF THE TRUSTEES for the Year Ended 31st March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Auditors CPT Chartered Certified Accountants Statutory Auditors 80 Victoria Road Darlington County Durham DLI 5JG Solicitors Lalimer Hinks 5-8 Priestgate Darlington Co. Durham DLI INL Bankers Barclays Bank plc 31 High Row Darlington County Durham DL3 7QS Regulator of Social Housing number 4811 The key personnel are Yvonne Beattie (CEO) and John Elliston (Head of Strategy and Developrnent). They are the conduit between the Board and the workforce in both directions. PUBLIC BENEFIT The charity's aims and achievements are set out within this report. The activities set out in this report have been undertaken to further the charity's charitable purposes for the public benefit. The Trustees have complied with Ibe duty under Section 17 of Ihc Cbarities Act 2011 to have due regard to public benefit guidance published by the Charities Commission and the trustees have paid due regard to this guidance in deciding what activities the charity should undertake. MEMBERS Membership of the 700 Club is open to all adults who live or have a place of work within 20 miles of Darlington Market Place and who are accepted by the Directors as members. Members have the right to vote at General Meetings, the voting rights including the appointrnent of the Directors of the charity. Members receive regular updates on the work of the charity and have opportunities to look round the projects and find out more about the work of the 700 Club. Page 5
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF 700 CLUB Opinion We have audited the financial statements of 700 Club (the 'charitable company,) for the year ended 3 1st March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that bas been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountiiig Practice). In our opiiiion the financial statements= give a true and fair view of the slate of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended. have been properly prepared in aecordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in aecordanee with the requirements of tlie Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered pmviders of social housing in England 2022. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are rtI]er 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 etliical requirements that are relevant to our audit of the financial statements in the UL including the FRC'S Ethical Standard, and we have fillfjlled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the tnjstees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforn]ed, we have not identified any rnaterial uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The ttustees are responsible for the other infonnation. The other inforniation comprises the infornlation in¢lud¢d iii the Annual Report, other than the financial statements and OUT Report of the Independent Auditors thereon. Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation an& in doing so. consider whether the other inforn]ation is materially inconsistent with the financial statemenls or our knowledge obtained in the audit or oihenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements Ih¢mselves. If, based on the work we have perfomicd, we conclude tbat tbere is a material misstatement of this other infonnalion. we are required to report tljat facL We have nothing lo report in this regard. Opinion5 on other mgtters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of th¢ audit- the infonnalion given in the Report of the Trustees for the fjnancial year for which the financial StateentS are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF 700 CLUB Matters on which we 4re required to report by exception tn the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accountiiig records have not been kept or returns adequate for our audit have not been re¢eived from brnnches not visited by us- or the fiiianciil statements are not in agreement with the accounting records and retums. or certain dtsclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. In addition, we have nothiiig to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion.. a satisfactory system of Control over transactions has not been maintained. Responsibilities of trustees As explained more fulLy in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the clwitable eon)pany for the purposes of company law) are responsible for the preparation of tbe financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the tNstees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the chaTitable 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 trnslees either intend to liquidat the charitable Company or to cease operalions, or have no realistic alternative but lo do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatemeiit when it exists. Misslatemenls can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statemeiits. trregularilies, including fraud, are instances of non-compliance with laws and regulations. We destgn procedures in line with our iesponsibililies, outlined above. to detect material misstatements in respect of inegularities, including fraud. The extent to which our procedures ar¢ capable of det¢cting irregularities, including fraud is detailed below: Assessing and responding to risks of material misstatement due to non-compliance with laws and regulations: We identified areas of laws and regulations that Could r¢a50nably be ¢xpe¢ted to have a material effect on the financial statements from our general commercial and sector expertence. and through dis¢ussion with key management in their identification and policies and procedures regarding complian¢e witli laws and regulations. The identified laws and regulations were shared with Ihe audit tearn and the team remained alert to indications of non-compliance throughout tbe audit. The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We deterniined that the following laws and regulations were most significant. Employment Rights Health and Safety at Work, Safeguarding and Pensions legislation. Whilst the charitable company is subject to other laws and regulations, we did not identify any others where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. including going concern. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF 700 CLUB We undertook a thorough review of the board minutes with a view to identifying any instances of non-compliance. Assessing and responding to risks of material misstatement due to fraud.. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur. We considered the oppormnities and incentives that may exist within the organisalion for fraud, we also considered the impact of any business targets, the personal financial circumstances of management and staff to ¢Trate a drtver for frdud. .We identified the greatest potential for fraud in the following areas,. posting of fraudulent journal entries, Authorisation, processing, payment of fraudulent expenses and revenue recognition. Audit procedures perfonned by the engagement team included-. Enquiring of key management as to the pmcedures and policies lo prevent and delect fraud. Reading board minutes. Using analytical procedures to identify any unusual or unexpected relationships. Ideiitifying and testing journal entries, in particular any journal entries posted with unusual account combinations. Testing income. in particular cut off testing, to establish if incorne has been recorded in the correct period. The identified fraud risks were shared with the audit team and the team rernained alert to indications of fraud throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a Tnaterial rnisstatement in the financial statements or non-compliance with regulation. This risk iiicreases the more that compliance with a law or regulation is rernoved from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-eompliance. The risk is also greater regarding irregularities occurring dv¢ to fraud rather than error, as fraud involves intentional con¢ealment, forgery, collusion, omission or misrepresentation. We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit fiudings. including any significant deficiencles in internal control that we identify during our audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description fornis part of our Report of the Independent Auditors. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF 700 CLUB Use of our report This report is made solely to the charitable company's rnembers, as a body, in accordance witb Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pern)ilted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our iudit work, for this report, or for the opinions we have fomied. Brian Thompson (Senior Statutory Auditor) foT and on behalf of CPT Chartered Certified Accountants Siatutory Auditors 80 Victoria Road Darlington County Durham DLI 5JG Page 10
700 CLUB STATEMENT OF F1Tr4Af4CIAL ACTIVITIES INCORPORATING AN INCOME AND EXPEIYDITURE ACCOUNT for the Year Ended 31st March 2024 2024 Total nds 2023 Total fund5 Unrestricted funds Restricted fijnds Notes INCOME AND ENDOWMENTS FROM Donations aiid legacies 19.415 152 19.567 17,838 Charitable Activities Hope House St Georges Ha]1 Floating Support Projects The Lodge Street Outreach Project CMF Churcli View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Projeet Development Wider Community Support 461.864 362.683 74,911 333,128 37,924 461,864 362,683 98,270 333,128 55.924 6,000 685.116 10.000 384,440 287,104 199,049 224,361 79,250 6,000 594,701 17.500 28,000 36,795 41,088 12,587 320,000 23,359 18,000 6.000 103,912 581,204 10,000 36,795 45,160 36,795 45.160 216,047 536,615 216,047 536,615 Investment income Other income 6,696 49 6,696 49 iio 303 Total 1969,829 904,085 2,873,914 2,249,126 EXPENDITURE ON Raising funds 1,323 1,323 816 Charitable activities Hope House St Georges Hall General Floating Support Projects The Lodge Sireet Outreacb Project CMF Covid-19 Measuies Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Development Wider Community Support Sports Fund 425,509 339,830 39,408 79,306 318,851 37,778 425,509 339,830 39,408 103.265 318,851 55,402 6,603 8,494 651,401 11,656 43 33,389 24,636 17,032 498,740 2,548 374,815 283,202 23,959 174,714 266,373 41.514 7.182 8,493 556.712 7,781 24,762 30.867 21.091 12,587 251.878 17,624 6,603 6,679 213,799 1,8l5 437,602 11,656 43 33,389 24,636 17,032 478,020 2,548 20,720 Total l 771 866 766 264 2 538 130 2.062,787 The notes forni part of these financial statements Pag¢ll
700 CLUB STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPEINDITUIiE ACCOUNT for the Year Ended 31st March 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes NET INCOME Transfers between fund5 197,963 2,621 137,821 335,784 186,339 20 Net movement in funds 200.584 135.200 335.784 186.339 RECONCILIATION OF FUTrIDS Total funds brought forward 565,553 1,436,850 2.002,403 1.816,064 TOTAL FUNDS CARRIED FORWARD 766.137 1,572,050 2,338.187 2,002,403 The notes form part of these financial statements Page 12
7UO CLUB REGISTERED IYUTrIBER: 03191544 BALLNCE SHEET 31st Mareh 2024 2024 Toral funds 2023 Total nds Unresu'ictsd fwid5 Restricted fi]nds Notes FED ASSETS Tajyble assets 13 640,Wi ,523.901 1163 902 2,039,182 clTRRE ASSETS Debtors Cash at bank axd in hand 14 29.826 706.27? 3. l86 93.997 33,012 800.269 80.688 73&098 97.183 833.281 653,J82 CREDITORS Amounts falling due within oDeye8r 15 (90.230) {49,034) 1139.264) {159.161) NET CiIRRENT ASSETS 645,868 48.149 694,017 494,2?1 TOTAL ASSETS LESS CURRE LtABILITfES 1285.869 I,572.050 2,857,919 2.533.403 CREDITORS Amounts falling due after more than one yvdr (519.732) (519,732) (531.000) T A&SETS 766.137 33 2 002 403 20 unStil¢kd funds R¢striGtsd funds 766,137 1571050 565.i53 1436.850 TOTAL FUYDS 2338.187 2.002,403 The financial statuts were approved by the B(VArd of Tsustees and authorised for issue on .. Ithd were signed on its behalf by. L Vasey- Tn]stc C D Hunter- Tn]stee The notes forni part of th¢se financial 8tstemcnts Pagc 13
700 CLUB CASH FLOW STATEMENr for the Year Ended 31st March 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Interest paid 521,413 42.287 347.673 28,018) Net cash provided by operating activities 479,126 319,655 Cash flows from investing activities Purchase of tangible fixed assets tnlerest received (283.955) 6,696 {73,085) iio Net cash used in investing activities 277 259) 72.975) Cash flow$ from finAneing activities Loan repayrnents in year 10,749) Net cash used in financing activities 10,749) 14,443) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 191,118 232,237 572,694 340.461 Cash and cash equivalents at the end of the reporting period 763,814 572,694 The note5 fonn part of these financial statements Page 14
700 CLUB NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31st March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period (#$ per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Decreasel(increase) in debtors (Decrease)lincrease in creditors 335,784 186,339 159,235 (6,696) 42,287 47,676 56.873 156,855 {iio) 28,018 (35,250) 11,821 Net cash provided by operations 521.413 347 673 ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year 608 799,661 36.455) 608 572,086 Total cash and ¢ash equivalents 763,814 572,694 ANALYSIS OF CHANCES IN IYET FUNDS At 1.4.23 Cash flow At 31.3.24 Net Cash Cash at bank and in hand Bank overdraft 572,694 227,575 36,455 800,269 36.455 572.694 191,120 763,814 Debt Debts falling due within l year Debts falling due after l year (10,l34) 531.000) (519) 11.268 (10,653) 519,732) 541,134) 10.749 530,385) Total 31,560 201.869 233,429 The notes forn) part of these financial statements Page 15
700 CLUB NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Financial Reporting Staiidard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. the Statement of Recommended Pra¢li¢e Ac¢ounting for Registered Social Housing Providers 2018 (Housing SORP), the Accounting Direction for Private Registered Providers of Social Housing 2022, the Companies Act 2006 and the Charitie5 SORP (FRS 102) 'Accounting and Reporting by Charities.. Sialement of Recommended Practice applicable to cliarilies preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of treland IFRS I02) (eff¢ctiv¢ l January 2019), The financial statements have been prepared under the historical cost convention. The charitable company is private limited by guarantee, incorporated iii England. Registration numbers and registered office are listed in the Report of the Trustees. reference and adminislrxtive details. The 700 Club is both a registered charity and a registered social housing landlord And sees both of these areas represented significantly in its activities. In particular, it receives a large amount of charitable income. The charity have departed from the Housing SORP by opting to produce a Statement of Financial Activities under the Charities SORP because tt judged this treatment more appropriate in presenting detailed information to the members. To comply with the Housing SORP, in addition to inelusions of a Statement of Financial Activities, a separate Statement of Comprehensive Ineorne and Statement of Changes in Funds hav¢ been presented in notes 25 and 26. Income Income is generally recognised in the Statement of Financial Activities once the Charity has entitlement lo the funds. it is probable that the income will be received and the amount can be measured reliably. Exceptions are as follows'.- Graiits Grants relating to revenue 2re recognised as in¢orne on a systematic basis over th¢ period in which the costs associated with the grant are recognised_ Grants that are receivable for expenses already incutted are recognised in the period receivable. Grants for fixed assets are recognised as income on a systematic basis over the expected use1 life of the asset. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the chartty to that expenditure, it is 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 accNals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated lo activities on a basis consislenl witb the use of resources. Grants offered subject to conditions which have not been met at the year end dale are noted as a commitment but not accTued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Improvements to property Fixtures and fittings 5% oncost 15 % on ¢ost and 50/0 on ¢ost 25 % on cost Page 16 continued...
700 CLUB NOTES TO THE FU4ANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 ACCOUNTING POLICIES - continued Tangible fixed assets Computer equipment 250/0 on cost Tangible fixed assets costing more than £3000 are Capitalised and incliided at cost less attributable depreciation. All repalrs and renewal costs relatiiig to the hostels have been Charged to the Statemeiit of Finan¢ial Activities. Included within tangible fixed assets are items pur¢hased using restricted nds. These iterns are released into the Statement of Financial Activitie5 over tlie useful life of the asset. Housing association properties are included in freehold and improvements to property, as the properties have not yet had all individual componeiits replaced, the properties are treated as a whole and rates for depreciating different components will be established once replacements eommenee. Rates established to date-. Boilers 150/0 on cost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds ean be used in a¢cordan¢e with the charitable objectives at the discretion of the ITUStees. Restricted llds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when lunds are raised for particular restricted pUoses. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable ompany's pension scheme are Charged to the Statement of Financial Activities in the period to which they relate. Financial instruments The charity only holds basic financial instrurnenls as are defmed in FRS 102. DONATIONS AND LEGACIES 2024 2023 Donations 19,567 17,838 Page 17 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 6.696 110 INCOME FROM CHARITABLE ACTIVITIES St Georges Hall Floating Support Projects Hope House The Lodge Grants receivable Housing benefit Residents room charges Property contract 114,434 304,587 22,273 20,570 91,844 243,866 14,403 12,570 98,270 102,967 230,161 461,864 362,683 98,270 333 128 First Steps Hoiising Project Street Outreach Project Church View Apartments Housing First CMF Grants receivable Housing benefit Residents room charges Property contract 55,924 6,000 104,862 544,575 35,679 10.000 36,795 55,924 6,000 685,116 10,000 36,795 2024 2023 New Project Dtvelopment Wider Community Support Move on Flats Total activities Total activities Grants receivable Housing benefit Residents roorn charges Propety contract 18,025 25,452 1.683 216.047 536,615 1,391,783 1,118,480 304.199 1.059.798 932,613 210,073 28,391 45,160 216,047 536.615 2,847,602 2,230,875 Grants have been received from various sources. both goveLDment and other organisations.. 2024 2023 Darlington Borough Council - Projects Darlington Borough Council - Supporting People Department for Levelling Up. Housing & CommuDities (previously incuded as deferred incoTne) 268,935 243.009 375,545 248,569 87.413 100,000 Page 18 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 INCOME FROM CHARITABLE AcfIvITIES - continued Durham Constabulary Vonne Organisation NHS North East North Cumbria ICB North East Probation Service Sherbum National Lottery Night Shelter Transforn)ation Fund HM Government Mercers Trust Ballingher TNst "Cash For Kids"_ radio campai Garfield Weston Trust Other funding 9.000 12,817 76.500 120,000 10,000 6,000 162,837 140,000 370,000 21.600 20,000 5,500 25,000 19,670 171,771 Total grants received in the period 1391781 1,102.385 Revenue grants received in the period of Nil have been deferred as related expenditure is budgeted for after 31 March 2024 (2023 - £Nil). Capital grants brought fonvard and received in the period have been deferred and will be recognised in line witb the useful life of the asset, the balance of capital grants deferred as at 31 Mareh 2024 was £10,838 (2023 - £99,325). Void losses for the year to 31 March 2024 were £13,440 (2023 - £16,034). RAISING FUNDS Raising donations and legacies 2024 2023 Events 1,323 816 Page 19 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 315t March 2024 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note Support costs (see note 8) Direct Costs 7) Totals Hope House St Georges Hall General Floating Support Projects The Lodge Street Outreach Project CMF Covid-19 Measu$ Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Developrn¢n¢ Wider Community Support Sports Fund 341,636 291,303 14,359 71,021 265,239 51.106 2,180 81,693 48.527 49 19.427 53,612 1,372 425,509 339,830 39.408 103,265 318,851 55,402 6,603 8,494 651,401 11,656 43 33,389 24,636 17,032 498,740 2,548 25,000 12.817 2.924 6,603 8,494 551,849 5,908 950 98,602 5,748 43 8,362 168 7,243 9,531 25,027 24,468 9,789 117,813 371,396 2,548 1.778,012 424,418 334,377 2,536.807 GIL4NTS PAYABLE 2024 2023 Hope House General Floating Support Projects Street Outreach Project CMF Church View Aparttnenls Wider Couununity Support Sports Fund 2,180 25,000 12,817 2.924 6,603 950 371,J96 2,548 200,006 424,418 200.006 The total grants paid to institutions during the year was as follows.. 2024 2023 Support Grants 66,767 68.565 Page 20 continued.
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 SUPPORT COSTS Infonnation technology Management Finance Hope House St Georges Hall General Floating Support Projects The Lodge Street Outreach Project Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Development Widei Community Support 38,652 26,130 48 11,210 26,737 (1,582) 51,361 2,262 14,579 6,289 7,483 4,342 I,772 8,692 49 12,982 1,707 1.761 3,652 1.061 7,124 32 724 3,744 168 1,740 4,123 162 864 47,810 28,355 Human resources Governance costs Totals Hope House St Georges Hall General Floating Support Projects The Lodge Street Outreach Project Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Development Wider Community Support 17,744 9,820 3,235 1,946 81,693 48,527 49 19,427 53,612 1,372 98,602 5,748 43 8,362 168 7,243 3,846 l2,401 1.214 20.702 1,779 838 2,130 630 6,433 1.734 420 482 532 6,761 2,700 70,254 25.094 334.377 Page21 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 NET INCOMEI(EXPENDITURE) Net income/(expenditure) ts stated after chargingl(crediting)- 2024 2023 Auditors, remuneration Auditors, remuneration for non audit work Depreciation- owned assets 4.112 4,112 159,235 3,992 3,741 156.855 io. TRUSTEES, REMUNERATION AND BENEFITS There were no trnstees, remuneration or other benefits for the year ended 3 1st March 2024 nor for the year ended 31st March 2023. Any connections or perceived Conflicts of interest that a trnstee or a senior manager may have, rnust be registered and disclosed to the board of trustee5. In the current year no related party lrnnsactions were reported. Trustees, expenses Tbere were no trustees, expenses paid for the year ended 3 1st March 2024 nor for the year ended 3 1st March 2023. ii. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 1,053,435 89.698 14,805 874,880 67,937 10,886 1,157.938 953,703 The average rnonthly number of employees during the year was as follows: 2024 18 2023 20 Support workers Housing management Admii]istration Management Cleaners Maintenance 37 37 No employees received emoluments in excess of £60,000. The total remuneration for key management rSonnel amounted to £95.609 (2023.. £85.083). Page 22 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 315t March 2024 12. COMPAK4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted nds Restricted fijnds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 17,452 386 17,838 Charitable activities Hope House St Georges Hall Floating Support Projects The Lodge Street Outreach Project CMF Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Development Wider Community Support 384,440 287,104 75,549 224,361 74,250 384,440 287,104 199,049 224,361 79,250 6,000 594,701 17,500 28,000 36,795 41,088 12,587 320,000 123.500 5,000 6,000 101.646 493,055 17,500 28,000 36,795 41,088 12,587 320,000 Inve5trnent incorne Other income iio 303 iio 303 Total 1,680,007 569,119 2,249,126 EXPENDITURE ON Raising ndS 796 20 816 Charitable activities Hope House St Georges Hall Floating Support Projects The Lodge Street Outreach Project CMF Covid-19 Measures Church View Apartments Housing First Out of Town Support First Steps Housing Project Move on Flats New Project Development Wider Community Support 374.815 283,202 45,611 266,373 36.146 374,815 283,202 174,714 266,373 41,514 7,182 8,493 556,712 7,781 24,762 30,867 21,091 12,587 251,878 129.103 5,368 7,182 6,678 262,607 1,815 294.105 7,781 24,762 30,867 21.091 12,587 240.843 11,035 Total 1,398,399 664,388 2.062,787 NET INCOMEI(EXPENDITURE) 281,608 {95.269) 186.339 Page 23 ontinued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 12. coARATIVEs FOR THE STATEffylENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds Total funds RECONCILIATION OF FUNDS Total funds brought fonvard 283,945 1,532,119 1.816,064 TOTAL FUNDS CARRIED FORWARD 565,553 1.436,850 2 002,403 13. TANGIBLE FIXED ASSETS The net book value of housing association properties in Freehold and Improvements as at 31 March 2024 was £2,143,613 (2023 £2,003,663). 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 17,835 15.177 63,736 33,012 80.688 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrdfts (see note 17) National insurance and other taxes Other creditors Accruals and def¢ed income 47,108 22,001 26,467 10,134 17.340 25,101 106,586 139,264 159.161 Other creditors relate to the provision of invoices due at the year end but not yet received. Page 24 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (See note 17) 519,732 531,000 17. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falliiig due within one year on demand: Bank overdrafts Bal loans 36,455 10,134 10,134 Amounts falling between one and two years.. Bank loans - 1-2 years 11,565 10.636 Amounts falling due between two and five years.. Bank loans - 2-5 years 40,871 37,858 Amounts falling due in more than five years.. Repayable by instalments.. Bank loans more than 5 years 467,296 482,506 The loan is currently set on a variable rate. Bank of England base rate plus 30/0. 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and fiv¢ years In more than five years 62,978 218,366 101,500 51,289 45,514 382,844 96,803 Page 25 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 315t March 2024 19. SECURED DEBTS The following secured debts are included within creditors-. 2024 2023 Bank loans 530,385 541.134 The bank loan is secured against the freehold properties at 102 Victoria Road, Darlington ( The Lodge") and 19 Pembroke Court, Neasham Road. Darlington ("Church View"). 20. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Church View Apartments Refurbishment Church View Apartments - tksignated Street Outreach - Desianated First Steps Housing Project- Designated Out of Town - Designated Housing First - Designated Early Intervention Outreach Project - Designated Floating Support - Designated Move on Flats Street Oiitreach Begging - Designated Christmas Shop 278,571 202,746 28,500 26,509 170 43 7,500 236,663 (11,784) (65,824) 449,410 190,962 73.500 22,798 3,045 45,000 (588) (392) {3,123) 3,267 (43) (1,665) 5,835 4,482 10,339 6,697 (4} (1,473) 853 {3,743) (268) 20,721) 3,009 10,408 7,170 (784) 4,216 272 20,721 565,553 197,963 2,621 766,137 Restricted funds Street Outreach Piojecl Client Move-on Funds Church View Apartments ReSJrbisbment Church View DLS Co-ordinator Church View Equipment and Furnishings Covid Funds Gardening Grant N¢w Proj£cl Development Fund Darlington Connect Sports Fund Darlinglon Connect Manager Christmas Shop Family Food Store 526 (603) (86,185) (11,507) (12,165) (6,678) (28) 199,015 34.506 (2,548) 17,984 2,000 3,504 (523) 1,742 1,311,042 11,653 17,091 9,448 2.717 1.139 1.224,857 48 4.926 2,770 2,689 199,015 113.663 1.452 17,984 (98) 79,157 4.000 (2,000) 3.504 1,436.850 137.821 2,621) 1.572,050 TOTAL FUNDS 2,002.403 335,784 2,338,187 Page 26 continued..
700 CLUB NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31st March 2024 20. MOVEMENT IN FUNDS - continued Net movement in funds, included in the abov¢ are as follows: Incoming resources Resources expended Movement in fi]nds Unrestricted funds General fund Churcb View Aparlments Refurbishrn¢n¢ Street Outreach - Designated First Steps Housing Project- Designated Out of Town - Designated Housing First- Designated Early Intervention Outreach Project - Designated Floating Support - Designated Move on Flats Street Outreach Begging- Designated Chri5knas Shop 1,792,178 (1,555,515) {11,784) (41,045) (33,530) (43) (11,664) 236,663 (11,784) (3,123) 3,267 (43) (1,665) 37,922 36,797 9,999 2,773 72.135 18,026 (4,246) (71,282) (21,769) {268) (20.720) (1.473) 853 (3,743) (268) 20,721) 1,969,829 (1,771,866) 197,963 Restricted fund$ Floating Support Drugs and Alcohol service Floating Support Daily Living Skills Street Outreach Project Client Move-on Funds Church View Apartments Refurbishment Church View Support Worker Church View DLS Co-ordinator Church View Equipment and Furnishings Covid Funds Gardening Grant New Project Development Fund Household Support Fund Darlinglon Coiinect Sports Fund Darlinglon Connect Manager Christmas Shop Family Food Store 12,817 10,542 18,150 6.000 1,075 102,837 (12,817) (10,542) (17,624) (6,603) (87,260) (102,837) (11.508) (12,166) (6,679) {28) (17,032) {370,000) (89,608) (2,548) (17,016) 526 (603) (86,185) (11.507) (12,165) (6,678) (28) 199,015 216,047 370,000 124,114 34,506 (2,548) 17.984 2,000 3,504 35,000 2,000 5,500 1.996) 904,085 766,264) 137,821 TOTAL FUNDS 2,873,914 2.538,130) 335,784 Page 27 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 315t Mareh 2024 20. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement An fimds Trdnsfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Church View Apartments RerbiShrnellt Church View Apartments - Designated Street Outreach - Designated First Steps Housing Project- Designated Out of Town - Designated Housing First- Designated Early Intervention Outreach Project - Designated Floating Support - Designated Move on Flats Street Outreach Begging- Designated 129,535 108,896 45,000 194,314 (11,784) (45,278) 105,634 {16,500) (8,335) (6,265) (3,194) (2.217) 278,571 202,746 28,500 26,509 170 43 7,500 34,844 5.921 3.237 9,717 514 14,896 14,999 12.222 3.242 {10,414) (4,660) (5.525) 4,482 10,339 6,697 4) 283,945 281,608 565,553 Restricted funds Floatiiig Support Drugs and Alcohol service Mental Health Support Worker Early Intervention Outreach Project Street Outreach Project Client Move-on Funds Church View Apattmenls Refurbishment Church View Support WorkeT Church View DLS Co-ordinator Church View Equipment and Furnishing5 Covid Funds Gardening Grant Darlington cOnnt Sports Fund 330 8,750 523 (19) 2,924 1,397,228 37,000 40,000 29,257 16,126 (330) (8,750) (523) 19 (1,182) (86.186) (37,000) {28,347) (12,166) (6,678) 2,717 79,157 4.000 l.742 1.311,042 11,653 17,091 9,448 2,717 79,157 4,000 1,532.119 1,436.850 TOTAL FUNDS 1.816,064 186,339 2,002.403 Page 28 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 315t March 2024 20. MOVEMENT IN FUNDS - continued Comparative net movement in fijnds, included in th¢ above are as follows: Incoming resources Resour¢es expended Movement in fimds Unrestrieted funds General nd Church View Apartments Refurbishrnent Street Outreach - Designated First Steps Housing Project- Designated Out of Town - Designated Housing First- Designated Early Intervention Outreach Project- Designated Floating Support - Designated Move on Flats Street Outreach Beggtng - Designated 1.418,166 (1,223,852) (11.784) {26,404) (30,876) (24,764) (7.781) 194.314 (11,784) 34,844 5,921 3,237 9,717 61,248 36,797 28,001 17,498 46,154 29,394 29,749 13.000 (31,258) (14,395) {17,527) 9,758) 14,896 14,999 12,222 3,242 1,680,007 (1,398,399) 281,608 Restricted funds Floating Support Drugs and Alcohol service Mental Health Support Worker Early Intervention Outreach Project Street Outreach Project Client Move-on Fund5 Church View Apartments Refurbishment Church View Support WorkeT Church View DLS Co-ordinator Church View Equipment and Furnishings Covid Funds Gardening Grant New Project Development Fund Household Support Fund Darliiigton Connect Sports Fund 50,500 (50.830) (8,750) {69,523) (5,368) (7.182) (87,260} (132,571) (28,347) (12,166) {6,678) (2,283) (12,587) (200,000) (40,843) (330) (8,750) {523) 19 {I,182) (86,186) (37,000) (28,347) (12,166) (6,678) 2,717 69,000 5,387 6,000 1,074 95,571 5,000 12,587 200,000 120,000 4.000 79,157 4,000 569,119 664,388 95,269 TOTAL FUNDS 2,249,126 2,062,787 186.339 Page 29 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Ye2r Ended 31st March 2024 20. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined positlon is as follows.. Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund Church View Apartments Refijrbishment Chur¢h View Apartments - Designated Street Outreach - Designated First Steps Housing Project- Designated Out of Town - Designated Housing First - Designated Early Intervention Outreach Project - Designated Floating Support - Designated Move on Flats Street Outreach Begging - Designated Chrtstmas Shop 129,535 108,896 45,000 430,977 (23,568) {111,102} 105,634 28,500 (8.923) (6,657) (3,194) (2,217) 449,410 190,962 73,500 22,798 3,045 31,721 9,188 3.194 8.052 514 5.835 13,423 15,852 8.479 2,974 20,721) (10.414) (5.444) (1.309) {2,974) 20,721 3,009 10,408 7,170 283,945 479,571 2,621 766,137 Restricted funds Floating Support Dmgs and Alcohol service Mental Health Support Worker Early Intervention Oulreacli Project Street Outreach Project Client Move-on Funds Church View Apartments Refiwbishment Church View Support Worker Church View DLS Co-ordinator Church View Equipment and Furnishings Covid Funds Gardening Grant New Project Development Fund Darlington CoDnect Sports Fund Darlington Connect Manager Christmas Shop Family Food Store 330 8,750 523 (19) 2,924 I,397,228 37,000 40,000 29,257 16,126 (330) (8,750) (523) 545 (1.785) (172,371) {37,000) (39,854) (24,331) (13,356) 2,689 199.015 113,663 1,452 17,984 2.000 3.504 (523) 1,139 1,224,857 {98) 48 4,926 2,770 2,689 199.Ol5 113,663 1,452 17.984 (2,000) 3.504 1,532,119 42,552 2.621) 1.572.050 TOTAL FUNDS 1.816064 522,123 2,338,187 Page 30 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 20. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movemenl in nds, included in the above are as follows.. Incoming resources Resollrees expended Movement in funds Unrestricted funds General ftmd Church View Apartments Refijrbishment Street Outreach - Designated First Steps Housing Project - Designated Out of Town - Designated Housing First- Designated Early Intervention Outreach Proje¢t- Designated Floating Support- Designated Move on Flats Street Outreach Begging- Designated Christmas Shop 3.210,344 (2.779,367) (23,568) (67,449) (64,406) {24,807) (19,445) 430,977 (23,568} 31,721 9,188 3,194 8,052 99.170 73,594 28,001 27,497 48,927 101,529 47,775 13,000 (35.504) (85,677) (39,296) (10,026) 20,720) 13.423 15,852 8,479 2,974 20 721) 3.649.836 (3,170,265) 479.571 Restricted funds Floating Support Drugs and Alcohol service Mental Health Support Worker Floating Support Daily Living Skills Early Intervention Outreach Project Street Outreach Project Client Move-on Funds Church View Apartments Refurbishment Church View Support Worker Church View DLS Co-ordinator Church View Equipment and Furnishings Covid Funds Gardening Grant New Project Development Fund Houseliold Support Fund Darlington Connect Sports Fund Darlington Connect Manager Christma5 Shop Family Food Store 63,317 (63,647) (8,750) (10,542) (69,523) {22.992) (13,785) (174,520) (235,408) (39,855) (24,332) (13,357) (2,311) {29.619) (570,000) (130.451) (2,548) (17,016) (330) {8,750) 10.542 69,000 23,537 12,000 2,149 198,408 (523) 545 {1,785) (172,371) (37,000} (39,854) (24,331) (13,356) 2.689 199.015 5,000 228,634 570,000 244,114 4.000 35,000 2,000 5,500 113,663 1,452 17,984 2,000 1,996) 1,473,204 1.430.652) 42,552 TOTAL FUNDS 5 123,040 4,600,91 522.123 Floating Support Drugs and Alcobol setvice - tbis fijnding was received from Darlington Borough Council. The Lodge - llaed by grants and rooms puchased by the council and Harbour. Page31 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 20. MOVEMENT IN FUNDS - continued Healthy Lifestyle Coach - this was funded by H¢althwatch Darlington and County Durham Community Foundation. Begginglstreet Outreach Initiative alongside meeting the needs of those who beg, we are also seeking to ask members of the public to think before giving money. and act of generosity can be very deslruetive if tlie money is used lo buy drugs or causes people to stay out on the street in sub-zero temperatures. putting their health at risk in anticipation of getting easy money. New Project Development Fund funds from the Department for Levelling Up Housing and Communities for acquiring properties to house clients with specific difficulties. Household Support Fund - government funding was given to 700 Club as a holding organisalion. Fuiiding paid to people in need and crisis in Darlington either by ourselves or partner organisations assistance given iii the form of vouchers. Darlington Connect - fijnds from NHS to set up a central hub to sign post those in need to SeIceS. In this respect 700 Club is a holth'ng organisation only. 21. EMPLOYEE BENEFIT OBLIGATIONS The charity offers a defined contribution pension scheme for employees. The total employers contribution paid and due in the year to 31 March 2024 was £14,807 (2023 - £10,886). 22. RELATED PARTY DISCLOSURES During the year I trustee was an employec of a related Local Authority and another trustee was employed by a related building society. All transactions Witb the authority and building society are made at arm's length on comrnercial terms and the individuals are not able to use their position to their comrnercial advantage. 23. ULTIMATE CONTROLLING PARTY The charity is under the control of the trnstees. Page 32 ontinued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31st March 2024 24. ACCOMMODATION MANAGEMENT Asat31 31 March 2022 Number Addltlons Disposals Change in tenure Asat 31 March 2023 Number Number Iyumber Number Owned by 700 Club Bed & breakfast spaces Apartment spaces Family homes (3 bed houses) 13 32 13 32 M2n2ged by 700 Club Hostel spaces Individual flats 29 29 Total managed gccommodation 74 79 All a¢¢omm¢)dation is supported. 25. STATEMENT OF COMPREHENSIVE INCOME as required by th¢ Housing SORP. Total 2024 Total 2023 Unrestricted Restricted Turnover Operating expenditure 1,963,084 1,729.530 904,085 766,264 2,867,169 2,495,794 2,248,713 2,034,466 Operating surplus l (deficit) Interest receivable Interest payable and similar charges 233.554 6,696 42.287 137,821 371,375 6,696 42,287 214,247 iio 28.018 Surplus l (deficit) before tax Taxation 197,963 137,821 335,784 186,339 Surplus / (deficit) for the year Other comprehensive income 197,963 137,821 335,784 186,339 Total comprehensive income l (loss) for the year 197,963 137.821 335,784 186,339 Page 33 continued...
700 CLUB NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2024 26. sTATEllNT OF CHANGES IN FUNDS as required by the Housing SORP. Unrestricted Restricted Total Balanee as #t31 March 2022 Surplus / (defIcit) Transfers 283,945 281,608 1,532,119 {95,269) 1,816,064 {186,339) Balance as at 31 March 2023 Surplus l (deficit) Transfers 565.553 197,963 2,621 1,436,850 137,821 2.621) 2.002,403 335,784 Balance as at 31 March 2024 766,137 1,572,050 2,338,187 Page 34
700 CLUB DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donatioiis 19,567 17,838 Investment income Deposit account inter¢st 6,696 iio Charitable activities Grants receivable Housing benefit Resideiils room Charges Property contract 1.391,783 1,118,480 304,199 33,140 1,059,798 932,613 210.073 28,391 2,847.602 2.230.875 Other income Other income 49 303 Total ineoming resources 2,873,914 2,249,126 EXPENDITURE Raising donations and legacies Events 1,323 816 Charitable activitie5 Wages Social security Pensions Rates and water Insurance Light and heat Telephone Advertising and recruitment 884,257 72,637 12,769 27,950 19,568 120.360 1.318 2,133 727,783 53,158 9,649 30,782 10,884 68,745 1,472 11,661 F 11 Sundries Management fees Rent Repairs and maintenance Sanitation Cleaning Bank staff workers Bad debts Carried fonvard 6,996 158.791 32,989 67,475 1.654 10.400 109,495 10,231 1.539,023 9,561 144,588 5,310 63,784 6,572 12,460 139,720 6,962 1,303,091 This page does not forni part of the statutory financial statements Page 35
700 CLUB DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2024 2024 2023 Charitable activities Brought fonvard Service user involvement Community support Freehold property tmprovernents to property Fixtures and fIttings Computer equipment Bank loan interest Grants to inslibjtions Grants to individuals 1.539,023 39,459 1,303,091 30,515 10,977 33,058 99,180 19.893 3,879 28,018 68,565 131,441 34,043 99.319 22,212 1,669 42,287 66.767 357,651 2,202.430 1,728,617 Support Costs Management Wages Social security Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Rent Office equipment Office property repairs Improvements to property Fixtures and fittings 95,607 10.683 567 1,561 7.005 49 5,850 12,183 85,083 9,714 273 5,791 3,390 5,784 14,821 790 1,867 18,500 11,474 8,063 693 152 2,524 18,500 5,021 2.469 693 152 162.864 166.395 Finanee Wages Social security Pensions Bank charges 42.156 3.299 939 1,416 35,425 2.522 649 1,474 47,810 40,070 Information technology Broadband RepaiT5 and renewals Caled forward 4,812 16,110 20,922 5.589 19,352 24,941 This page does not fom] part of the statutory financial statements Page 36
700 CLUB DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31$t March 2024 2024 2023 Information technology Brought fonvard Computer support Computer equipment 20,922 6.286 1,147 24.941 5,714 28,355 30,655 Human resources Wages Social security Pensions Sundries Employee health plan Recruibnent Peninsula fees Staff training 31,415 3,079 530 4,281 3,851 8,399 8,582 10.117 26,589 2.543 588 251 3,732 20,135 8,021 7,572 70,254 69,431 Governance costs Auditors, rernuneration Auditors, remuneration for non audit wo Legal fees ISO fees 4.112 4,112 11,803 5,067 3,992 3,741 15,848 25,094 26,803 Total resources expended 2.538,130 2,062,787 Net income 335,784 186,339 This page does not fomi part of the statutory financial statements Page 37