2021-03-31-accounts - Michaels Limited

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Registered Charity No. 1058938 Limited by Guarantee Reg. No. 3271465

Twenty-ninth Annual Report 2020/2021

Michaels Limited Mission Statement

To provide emergency and longer-term accommodation to Homeless people and provide related day services.

To provide encouragement, advice and support to our clients in an environment which enables them to gain a greater sense of self-worth, and to move towards a more independent life.

To work in a co-operative and a collaborative way with the relevant Statutory Agencies, and with other voluntary organisations.

Michael House, 46 Grosvenor Gardens, Bournemouth, BH1 4HH Telephone: 01202 393178 Website: www.michaelhouse.co.uk Facebook: @MichaelsLimited Twitter: @michaelsltd Instagram: @michaelsltd

The Chairman and Directors of Michaels Limited invite you to attend the Twenty Ninth Annual General Meeting

To be held at via Zoom video call at 5:30pm on Wednesday 27[th] October 2021

AGENDA

Apologies
Minutes of AGM 28th October 2020 (below)
Matters arising therefrom.
Chairman's report
Adoption of Annual Report and Financial Statements.
Re-appointing of auditors for 2021/2022
Chief Executive’s Review of the Year.
Re-appointment of Directors: Directors retiring by rotation, Martin Slade and Jane Kelly
Any other business of which notice has been given.

Tel. 01202 393178 or Email: info@michaelhouse.co.uk

Minutes of AGM of Michaels Ltd held Online via Zoom Portal

On 28[TH] October 2020 at 5.30pm

Present: Martin Slade (Chair), Directors, Staff and Friends of Michael House (14 in total) Apologies: Board Member MR Minutes of AGM 2019: Distributed, agreed and signed.

Matters Arising: Nil

Annual Report and Financial Statements: Read by John Malins, discussed and adopted. Chief Executive’s Review of the Year: Mark Horsford presents his annual report.

Reappointment of Director’s: Rosemarie Veale and Blair Crawford re-elected to serve for a further three years. Retirement of Director: Richard Stamp has retired

Appointment of Director: Carlie Palmer put forward by Martin Slade. Chairman’s Review of the Year: Martin Slade presents his review of the last year.

Appointment of Auditors: Carter & Coley were reappointed as Auditors for 2020/2021. There being no further business the meeting closed at 6.10pm

Board of Directors

Martin Slade – Chairman

John Coulston – Lifetime President

John Malins – Financial Director

Rosemarie Veale – Secretary Mary Randell, MBE Malcom Clarke Cllr Jane Kelly Nick Beal Helen Hender BA Blair Crawford James Radcliffe Carlie Palmer

Staff Team

Mark Horsford – Chief Executive

Chris Murphy – Senior Project Coordinator (Support and Wellbeing) Jolene Matthews – Senior Project Coordinator (Housing and Financial Inclusion) Reason Ndlovu – Support Worker

Denis Daly – Night Worker

Martin McMillan – Night Worker

Vasco De Oliveira – Support and Inclusion Worker

Shelley Mitchell – Activities Coordinator

Nikita Vass – Support Worker

Jeanette Ware – Support Worker

Chairman’s Report

Welcome and thank you for attending this 29th Annual General Meeting of Michael House Limited. We all thought last year was a one off exceptionally difficult year for the world and Michael House in particular and that the next 12 months would be a little less challenging; but we were wrong, and the last 12 months have been every bit as challenging as the previous. But, once again MH have sailed through the storm and emerged stronger than ever. But there remains dark clouds on the horizon and we must always be conscious that we are only as strong as the Management and the generosity of our benefactors and Ambassadors.

To all of them, on behalf of the Board of Trustee’s, I thank you for your unstinting efforts and generosity. As a result of generous grants and bequests, we were able to purchase another flat in Southbourne which will become the home for 1 of our long-term residents who can now be totally independent. Mark has been able to development and grow the bike project which is now both a social enterprise and a further learning and training facility for residents.

The accounts show that we are in a good financial position, but we must be ever mindful that we need to balance the books each and every year and this means good team management, steered by our financial guru, John Malins. We are gifted by having such dedicated and efficient staff headed by Mark Horsford, who is never far from an idea or initiative that will promote us in the eye of the public or obtain some additional funding through a social fund or group. To this we add the Trustee’s with their wealth of talents and connections, and we have a Team that work well together and hopefully will continue to move forward and grow stronger each year.

Next year sees us mark the 30th anniversary of Michael’s, the forerunner to Michael House. I’m sure that when John Coulson, Rosemary Veale and others started working with the hungry and homeless, from St Michaels Church on Poole Hill in 1992, that they could not envisaged how their efforts and commitment at that time would look today. That’s probably no surprise because they were focused hard working from day to day, with little time to think about the weeks and months ahead, with no funding and few resources, other than dedication and the love for what they were doing.

We marked our 25th celebration with a number of fund-raising events, some more daring than others. There are some plans already in place but if anyone has an idea how we can promote our work and raise funds for our Projects, please do share them with us.

So, once again, on behalf of my fellow Trustee’s I thank everyone who has supported us over the last 12 months and wish you a safe 2022.

Martin Slade Chairman

Michaels Limited: Financial Overview 2020/21

Key Events

In a difficult year because of Covid-19, we still managed to finish the year with a bank balance of £239k, up £63k in the year. This put us in a position to start looking at another flat purchase, which we finally achieved in September when we bought a flat in Seabourne Road, Southbourne.

We received a generous grant of £20k from the Garfield Weston Foundation, which was put towards the cost of extending the ground lease at the Jubilee House flat.

We took part again in the Big Give Christmas Challenge, which raised another £24k, and we also received a generous donation of £10k on the last day of the financial year.

Income from housing benefit and rent was adversely affected by our not being able to accommodate 7 residents in double rooms, due to Covid-19. This left a hole of £35k compared with where we expected to have been, which was filled in part by the receipt of £13k of coronavirus grants as mentioned at last year’s AGM. I can report that the BCP Council benefits office agreed to our request to increase the housing benefit payment per resident with effect from 1st April 1921 to take account of the 7 empty beds.

Conscious of the shortfall in Income from housing benefit and rent, day to day expenditure was carefully managed and finished the year £2k less than in 2019/20.

Summary

Michaels is still in a strong financial position to continue, and expand on, the good work it is doing, despite the coronavirus impact, but as ever we need to ensure that day to day running costs are covered by day to day income.

John Malins Financial Director

Michaels Limited Financial Highlights 2020/2021

Income	Year ended 31.3.21	Year ended 31.3.20
INCOME
Grants	33,000	82,000
Donations	66,783	86,260
Legacy	7,953	23
Investment Income	1,300	847
Housing Benefit	200,089	217,675
Rents	71,550	61,459
Other Income	1,823	630
Total	382,498	448,894

EXPENDITURE
Staffing Costs	214,834	205,919
Food	21,268	26,804
Rent	3,997	3,853
Rates & Water	8,380	8,627
Heat & Light	16,276	16,745
Insurance	5,881	6,068
Repairs & Renewals	26,719	24,374
Motor & Travel	4,073	5,531
Administration	10,342	12,189
Sundries	11,296	14,640
Depreciation	8,691	9,094
Total	331,757	333,844

SURPLUS	50,741	115,050

Michaels finances are operated on a prudent basis with very low administration costs. Reserve provision (currently £100,000) is made to meet contingencies inherent in operating a voluntary charity of this kind.

Full accounts are available on request from Michael House, 46 Grosvenor Gardens, Bournemouth, BH1 4HH, or by phoning 01202 393178, or can be accessed online.

Chief Executive Review of the Year

Between April 2020 and the end of March 2021, Michael House provided support and accommodation to 46 residents, including two rough sleepers with a pet. 46% of individuals successfully moved into independent accommodation or returned to live with family members or friends, with 6% of residents who either abandoned or left the service with a negative outcome. 47% of individuals are still residing at either Michael House, Drummond Wolff House or at our 2 bed move-on flat in Charminster.

The end of 2020 was a difficult year for many, with people left unsure of which direction to start moving forward again and along with another lockdown, we found that this time had a direct impact on our resident’s motivation and wellbeing. However, Christmas went ahead at Michael House, with residents from all our services able to mix (in accordance with Government guidelines). The main festive feast was kindly funded by Horizon Honda, Christchurch with lots of amazing donations from the community. The food was prepared by Michaels Trustee Rosemarie and staff. Our Charity Ambassador, Shella Hagan, with the support of her team of friends provided large gift bags stuffed full of wrapped gifts and for the first time in a long time, we regained a sense of family and unity.

With Spring upon us and Lockdown restrictions easing, it was wonderful to be able to dust down the Michael House minibus and for Gary, our minibus volunteer, Shelley to restart our healthy walks in the New Forest. Chris also started a Bike Riding session to support our residents to mix safely in the fresh air. After securing funding from JP Morgan and the Co-op, we were also able to introduce a large pergola in the garden of House 46 and purchase bistro type tables and chairs to enable staff to facilitate group activities in ventilated areas.

Thanks to our lead volunteer Nikita and five resident volunteers, the On the Move community bike project has really started to build momentum. Four residents have undertaken an online Bicycle Maintenance course and we are current developing a package of AQA Unit Awards to underpin their learning and achievements. The project has been holding regular community events hosted by Joy Café in Churchill Gardens, which has really helped us to raise awareness of the Charity and connect with the community. We hope to expand our free bike safety check to schools in 2022.

In 2021 we have noticed a considerable increase in engagement with 93% of our residents currently accessing paid employment, training, or voluntary work. We have also been able to develop positive partnerships with local businesses, such as Moose Kitchen in Bournemouth, where a work experience opportunity for one of our residents has led to a successful employment offer!

There has also been a few changes within the Michael House staff team with Maria moving on to pastures new, which created an opportunity to recruit to two new part-time support workers, Nikita and Jeanette, who are both setting in well within the team.

I would like to take this opportunity to thank the whole team for their hard work and support. We’ve overcome many challenges within the last year and I feel very blessed to be working with such an amazing group of people. Thank you.

On behalf of the residents, volunteers, staff and trustees, we would like to thank each and every one of our Friends and Charity Ambassadors for continuing to support Michael House and the work that we do. The last 18 months have made it very difficult to fundraise in our usual ways, but your passion and continued dedication to support the work that we do is greatly appreciated and we couldn’t do it without each of you.

I look forward to 2022 and to sharing not only a belated slice of Michael House birthday cake, but also we hope to be able to come together and celebrate 30 years of Michaels and the opening of our new move-on flat in Southbourne.

Mark Horsford Chief Executive

From left to right: The new pergola, Collective Art, Shelley and KMC celebrating being published, Pop-up Bike Shop, Chocolate Bingo, The Michael House stall at Southcoast Makers Market, Mark and Carlie (trustee) with the Team from Moose Kitchen, Reason with an amazing donation from Christchurch Waitrose & Partners, Michael Turner Studios promoting his amazing Christmas Treasure Hunt in aid of Michael House.

'(HAEL HOUSE Supporting the homele88 since 1992 pAW.Cahe1hOe. co. uk

REGISTERED COMPANY NUMBER: 03271465 (England and Wales) REGISTERED CHARITY NUMBER: 1058938 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR MICHAELS LIMITED Carter & Coley Chartered Accountants 3 Dumnt Road Bournemouth Dorset BH2 6NE

MICHAELS LIMITED CONTENTS OF THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2021 Page Report of the Trnstees Independenl EIamlner's Report 3 to 4 Stsiemellt of Flnanelal Aellvttles Bal*Dee Sheet 6 to 7 Notes to the Financial Statements 8 to 17 Detailed Statement of Finan¢i21 A¢tivities 18 10 19

MICHAELS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, presenl their repoTt with the financial slalemenls of the charity for the year end 31 March 2021. The trustees have adopted the provisioDS of A¢¢ounting and Reporting by Charities.. Statemenl of Recommended Prdctice applicable to charities preparing their accounls in accordance with the Financial Reportin£ Standard applicable in the UK and Republic of Iland (FRS 102) (effective l January 2019). OWECTIVES AND ACTIVITIES Objectives and aims The object of the company is the relief of povety particularly amongst homeless people in South East Dorset, and elsewhere in the United Kingdom, by the provision of temporary accomm(Nlation, food, clothing. advice and resettlement. li also provides facilities for recreation and other leisure time occupation for such persons with the object of improving their condition of life. Significant activities During the year we were adversely affectd by the coronavin insofar as our hoMel accommodation includes seven doubl¢ rooms. Due to social distancing requirements, we bad no choice but to we these instead as single roorns. thereby reducing our expected rental income by in excess of £35,O¢X). We managed io offsd the impact of this in the financial year by successfully applying for Covid-related grants amounting lo £13,0, rnanaging to exceed our larget for donations, delaying non-essenlial property maintenance and having less mouths to feed. FINANCIAL REVIEW Reserves policy The Charity seek5 to retain sufficient reserves that allow5 It to continue to carry out its charitable activities for a period of four months. FUTURE PLANS In May 2021 we had an offer of £137,5(M) accepted for th¢ purchase of another flat in response lo the need identified for fih¢r third-tier move-on accommodation. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by ils governing document. a deed of tnt, and constitutes a limiied company, limited by guarantee. as defmed by the Compani¢s Acl 2INJ6. Organisational structure A Committee of Management Tuns the company. It has close link5 with local ¢oun¢ils. health Providers and national charitable organisalions. REFERENCE AND ADMINISTRATIVE DETAIiS Registered Company number 03271465 (England and Wales) Regxstered Cbarlty number 1058938 Page I

MICHAELS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR EIWED 31 MARCH 2021 Reglstered office 46 Grosvenor Gardens Boscombe Bournemouth Dorset BHI 4HH Trustee$ Mr J Coulston MTS R E Veale Mr M Clarke Mr J B Crawford Mrs H C Hender Mrs M E Randell Mr R A Stamp (resigned 151412020) MrNSBeal Ms J Kelly Mr M G Slade Mr J C Malins Mr J D Ratcliffe Ms C D Palmer (appointed 161912020) Company Secretary Mrs R E Veal¢ Independent Examiner Anthony Cooke Chartered Accountsnt Cart¢r & Coley Chartered Accountants 3 DuJTant Road Bournemouth Dorset BH2 6NE Approved by ordu of the board of tr$1¢¢$ on 14 July 2021 and signed on its behalf by: Mr J C Malins - Trust¢¢ Page 2

INDEPENDENf EXAMtNER'S REPORT TO THE TRUSTEES OF MICHAELS LIMITED IDdepeDdent ezaminer's report to the trnstees of Micbiels Limited ('the Company,) I report io the charity trustees OD my examination of Ihe accounts of the Company for the year ended 31 March2021. Responsibilities and basls of report As the charity's truste¢s of the Company (and also its directOTS for the purposes of company law) you ar¢ responsible for the preparation of ihe accounts in accordance with the requirements of th¢ Companies Act 2006 ('th¢ 2006 A¢t'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of th¢ 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitys accounts as carried out under section 145 of the Charities Aci 2011 {'the 2011 ACÉ,). In carrying out my examination I have followed the Directions given by the Charity Commission wider section 145(5) {b) of the 2011 ACL Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MICHAELS LIMITED Independent eiaminer's statement Since your charitg5 gross income exceeded £250,(KKI your examiner must be a member of a list¢d body. I can conf]mi that l am qualified to undertake the examination beUSe l am a registered member of Ch8rtered Accountant which is on¢ of ihe listed IM)di. I have cOmpled my examination. I confirni that no matters have come lo my attention in connection with the examin&tion giving me to believe- accowiting re¢ords were not kept in Tespect of the Company as rquired by section 386 of the 2006 the accounts do not accord with those records. or the accounts do not comply with the a¢cowiting requirements of section 396 of the 2(M)6 Act oth¢r than any requirement that the accounts give a true and fair view which is not a mattcr considcred as part of an independent examination. or the accounts have not been prepared in accordan¢¢ with the rnetho(Ls and principles of the Statemenl of Recommended Practice for accounting and reporting by Charilies {applicable lo charities preparing their a¢¢ounts in accordance with the Financial ReEK>rting Stsndard applicable in the UK and Republic of Ireland {FRS 102)). I have no concerns and have come across no other matters in wnnection with the examination to which attention should be drawn in this report in order to enable A proper understsnding of the accounts to be rea¢h¢d. ntho ooke Chart red Accountanl Carte & Coley Chart d Accountants 3 Durranl Road Bournemouth Dorset BH2 6NE 14July2021 Page 4

MICHAELS LIMITED STATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total funds 2020 Total funds Unrestricted Re5tncted fimds funds Not INCOME AND ENDOWMENfs FROM Donations and legacie5 76559 33.000 109.559 168,913 Other trading activities Investment income 271.639 iJoo 271,639 ijoo 279.134 847 Total 349.498 33,000 382,498 448,894 EXPENDITURE ON Charitable activities Supporting people 318.757 13,000 331,757 333,844 NET INCOME 30,741 20,000 50,741 15,050 RECONCILIATION OF FUIYDS Total funds brought forward 782,136 782,136 667,086 TOTAL FUNDS CARRIED FORWARD 812,877 20,000 832,877 782,136 The notes forni part of th&se financial slalements Page 5

MtCHAELS LIMITED BALANCE SHEET 31 MARCH 2021 2021 Total funds 2020 Total fiinds Unrestricted Restricted fimds Notss FIXED AETs Tangible assets 585.802 585,802 591.605 CURRENT ASSETS Debtors Cash al bank and in hand io 23,917 221.871 23,917 241,871 21.419 178.429 20,iNJO 245.788 20,1MKI 265.788 199,848 CREDITORS Amounts falling due within one year (18,713) (18.713) (9.317) NET CURREIYT ASSETS 227.075 20,0(10 247,075 190,531 TOTAL ASSETS LESS CURRENT LIABILITIES 81277 20,(MH 832,877 782,136 NET ASSETS 812.877 20,OIH) 832,877 782,136 FUNDS Unrestricted fim(ts Restricted funds 13 812,877 20.000 782.136 TOTAL FUNDS 832077 782.136 The ¢haritabl¢ company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 Mah 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies A¢1 20. The Inle¢S acknowledge their responsibilities for (a) ensuring that the charttable company keeps accounling records that comply with Sections 386 and 387 of th¢ Compani¢s Act 2006 and (b) PTeparing financial slalem¢niS which give o tsue and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirem¢nts of Sections 394 and 395 and which othenvise comply with the r¢quir¢mcnt5 of thc Companics kn1 2006 r¢lating to fULclaI statements. so far as applicable to the haritable company. The not¢s forni part of these financial statements Page 6 continued...

MICHAELS LIMITED BALANCE SHEET - continued 31 MARCH 2021 These financial statem¢nts have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regime. The financial statements were approved by the Board of TTUSttts and authortsed for issue on 14 July 2021 and were signed on its behalf by.. Mr J C Malins- Tnte¢ Mrs R E Veale- Trnstee Th¢ notes fom] part of these financial Statements Page 7

MICHAELS LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 cll 2021 ACCOUNTING POLICIFS Basis of Preparlng the finandal statements The financial statements of the charitsble company, which is a public benefit entity under FRS 102, have been pr¢par¢d in accordance with the clwi.ties SORP (FRS 102} 'AccountiDg and Reporting by Charities: Statement of Recommended Practi¢¢ applicable lo charities preparing their accounts in a¢¢ordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial ROrting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2(K)6. The financial statements have been prepared under the hislorical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. il is probable that the income will b¢ r¢ceiv¢d and the amount can be m¢asured reliably. Expendlture Liabilities are recognised as expenditure as soon as th¢r¢ is a legal or ¢onstru¢tiv¢ obligation committing the ¢harity to that upendilure, it is probable that a transfer of economic benefsts will be required in settlerncnt and the amount of the oblig&tion w be measured reliably. Exp¢nditur¢ is accounted for on an accruals basis and ha5 been cla55ified und¢r heading5 tha( a¥gtcgale all c05t related to the category. Wher¢ ¢osts ¢annot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. T#ngible fixed a5sety Depreciation is provided at the following annual rates in order to write off each &ssel over its estimated usefvl life. Freehold property Short leasehold Long leasehold Fixttires and fittings Motor vehicles 2 /• on cost 200/0 on cost in accordance with the terni of the lease 1501(* on redu¢inE balanc¢ 25•/• on reducing balance Taxation The charity is exempl from corporation tax on its ¢haTitable activiti. Fund accountlng Unrestricted funds can used in a¢wrdance with the charitable objectives at the discretion of the trustees. Restricted funds can only be US for particular restrithed putFK>ses within the objects of the charity. Restrictions arise when specified by the donor or when funds raised for p8rti¢ular restricted puryjoses. Further explanation of the nature and PUTpose of each fund is included in the notes to the financial statements. Page 8 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES- Continued Hire purchase and leasing commlthients Rentals paid under operating leases ar¢ charged to the Statement of Fitwicial Activities on a straight line basis over the period of Ihe lease. Penslon costs And othtr post-retirement beDefi¢s Th¢ ¢haritabl¢ ¢ompany operates a defined contribution pension h¢M¢. Contributions payable to the charitable CoMpanS p¢nsioD scheme are charged to the Statement of Financial Activities in the period lo which they relate. OTHER TRADING ACTIVITIES 2021 2020 Housing benefit Rent 200,089 71,550 217,675 61,459 271.639 279,134 INVESTMENT INCOME 2021 2020 Deposit account interest iJoo 847 NET INCOMEI(EXPENDITURE) Net incom&l(expendilure) is stated after ¢hargingl{¢r¢diting): 2021 2020 Depre¢iation- owned assets Hire of plant and machinery Independ¢nt examiners fee 8,691 2,496 1,524 9.095 2.496 1.448 Page 9 continued...

MICHAELS LIMITED NOTES TO THE FTNANCIAL STATEMEiYfs - continued FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES, REMUNERATION AND BENEFITS There were no ttee5, remunerntion or other benefits for the year ended 31 Mh 2021 nor for tb¢ year ended 31 March 2020. Tru$tee$' e4beDses There were no trllSte' expeeS paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. STAFF COSTS The avernge monthly llurnr of employees during the year was as follows: 2021 2020 Administration Support io 10 No employees re¢¢ived emolwnents in excess of £60.0(M). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund5 funds Total funds INCOLWIE AND ENDOWMENTS FROM Donations and legacies 106,913 62,000 168.913 Other trading activilies Investment income 279,134 279,134 847 Total 386,894 62.000 448,894 EXPENDfTURE ON Charitable activities Supporting p¢ople 333,844 333,844 NET INCOME 53.050 62,O¢KI 115.050 Transfers behveell funds 62,IXK) (62,0(Ki) Net movement in funds 115,050 115,050 Page 10 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 COMPARATIVES FOR THE STATEMEwf OF FINANCIAL ACTIVITIES- tontinued U[eStriCted Restricted fiulds funds Total funds RECONCILIATION OF FUNDS Total funds broughi forsvard 667.086 667,086 TOTAL FUNDS CARIUED FORWARD 782.136 782.136 INTANGIBLE FIXED ASSETS Goodwill COST Ai i April 2020 and 31 Mah 2021 15,000 AMORTISATION Ai l April 2020 and 31 March 2021 15,000 NET BOOK VALUE Ai 31 March 2021 At 31 March 2020 Pa 11 ¢onlinued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 MARCH 2021 TANGIBLE FIXED ASSETS Freehold Short property leasehold Long leasehold COST Ai l April 2020 Additions Disposals 482,7(M) 2,190 10,434 109,745 (10,434) At 31 March 2021 484,890 109,745 DEPRECIATtON Al l April 2020 Charge for year Eliminated on disposal 8,590 4J39 10,434 2,240 (10,434) At 31 Mar¢h 2021 12,929 4,480 NET BOOK VALUE At 31 March 2021 471,961 105,265 At 31 March 2020 474,110 107,505 Fixtures Motor vehicles fittings Totals COST At l April 2020 Additions Disposals 18,087 698 20,760 641,726 2,888 (10,434) At 31 March 2021 18,785 20,760 634,180 DEPRECIATION At l April 2020 Charge for year EIiTninated on disposal 13,175 842 15,682 1.270 50,121 8,691 (10,434) At 31 March 2021 14.017 16.952 48J78 NET BOOK VALUE At 31 March 2021 4,768 3,808 585,802 At 31 March 2020 4,912 5,078 591,605 Page 12 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 TANGIBLE FIXED ASSETS- continued A grant of £118.795 w&5 rC]Ved from the National Lottery ChaTities Board in 1998 to fund the purchase of additional charitable accomm(Klation. The lotal cost of the freehold propety before deduction of granls is £148.544. In the opinion of the Ite¢S the fair value of the charitys property is in excess of £l.000,O(M). ID. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Pr¢paym¢nts and accnjed income 23,917 21.419 I I. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 2021 2020 Trade creditors Social security and other tax Pension control account Accruals and deferred income 1.436 3,214 700 13J63 1,348 3.420 710 3.839 18,713 9,317 12. LEASING AGREEMENTS Minimum l¢ase payments under non-cancellable operating leases fall due a5 follows: 2021 2020 Within one year Between one and five years 2,496 4a68 2,496 6,864 6,864 9.360 Page 13 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 IJ. MOVEMENT IN FUNDS Net movement in funits Transfers bctwccn funds At 3113121 At 114120 Unrestrlcted fllndg General fund Short terni projects Running costs fimd Bike Project Seedbed Hilary Williams Charitable Trust 702297 10,0 50,IKM 17W9 1s(H) 500 41.944 1.50D 745,741 10,000 50,000 7,136 (10,703) (1500) (500) 78L136 30,741 812,877 Restricted funds Garfield WestOD 20,000 20,000 TOTAL FUNDS 782,136 50,741 832,877 Net movement in funds, included in the above are as follows: Incoming resources Re50urce5 expended Movenient in funds Unrestricted funds General fund Bike Project Hilary Williams Charitable Tn1 349,498 {307,554) (10,703) (500) 41,944 (10,703) (500) 349,498 (318,757) 30,741 Reslricted funds COVID-19 assislance National Lottery Community Fund Garfield Weston 4500 S00 20,000 (4,500) (8500) 20,000 33,1)00 {13,000) 20,000 TOTAL FUNDS 382,498 (331,757) 50,741 Page 14 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 13. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Nel movement in fvnds Transfers between funds At 3113120 At 114119 Ullrestrlcted fundx G¢n¢ral fund Short term projects Running costs fund Bike Project Seedbed Hilary Williams Charitable Trust 607.086 10,( 50.0 21.304 73.907 702,297 i 0,000 50.000 17,839 1.500 500 17,839 13,407 500 (11,907) 667.086 53,050 62.000 782.136 Restricted funds House Swap Flat refurbishmenl 60,000 (60.000) (2,0001 62,0(Kl (62,000) TOTAL FUNDS 667.086 115.050 782.136 Comparative nel movement in fun(Ls. included in the above are as follows: Incoming r¢sour¢es Resources expended Movement in funds Unrestricted fundg Generdl fund Bike Project Seedbed Hilary Williams Charitabl¢ Trust 352,987 20,0 13.407 500 (331,683) (2.161) 21,304 17,839 13,407 500 386.894 (333,844) 53.050 Restricted funds House Swap Flat refurbishment 60.000 2,000 60,000 2,000 62.000 62,000 TOTAL FUNDS 448.894 {333.844) 115,050 Page E5 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 13. MOVEMENT IN FUNDS- continued A Curnt y¢ar 12 months and Prior year 12 montlL% combined position is as follows: Net movement in fiu]ds Transfers between fimds At 3113121 At 114119 Unrestricted funds General fund Short terni projects Running costs fund Bike Project Seedbed 607,086 10.000 50.0(M) 63.248 75.407 745,741 lo,0 50,(K)O 7.136 7,136 13,407 (13,407) 667,086 83.791 62,000 812.877 Restrleted fuDds House Swap Flat refurbishmenl Garfield Wc5ton 60,(KX) (60,0(KI) (2,0(K)) 20,(KM) 20,000 82.(MKJ (62,000) 20,000 TOTAL FUNDS 667,086 165.791 832.877 Page 16 continued...

MtCHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 13. MOVEMENT IN FUNDS- ¢oDtinued A current year 12 months and prior year 12 months combined net movement in fimds. included in the above are as follows: Incoming resources ResoU¢S exnded Movernent in funds Unrestricted funds Generdl fimd Bike Project Seedbed Hilary Williams Charitabl¢ Tn1 702.485 20,(M)O 13.407 SW (639.237) {12,864) 63.248 7,136 13,407 (500) 736.392 (652,601) 83.791 Restricted funds House Swap Flat refurbishment COVID-19 assistance National Lottery Community Fund Garfield Weston 60,000 2.000 4,500 8,500 20,0 60,OIX 2.0(M) (4,500) (8,500) 20,000 95.(K)O (13,000) 82,000 TOTAL FUNDS 831J92 (665.601) 165,791 14. RELATED PARTY DISCLOSURES There were no relat¢d paty transactions for the year ended 31 March 2021. 15. COMPANY LIMITED BY GUARANTEE In the event of the company being wound up, its membets al the time together with those who ceas¢d to b¢ members within a year of the winding up, ar¢ rquired lo contribute an amount nol excecding £10 per member towards any liabilities of the company. Page 17

MICHAELS LIMITED DETAILED STATEMEKf OF FtYANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 INCOME AND ENDOWMENTS Donations and legacies Donalions Gift 8td Legaci¢s Grants Sundry receipts 60,493 6,290 7,953 33,000 1,823 79,692 6.568 23 82.000 630 109,559 168.913 Other trading activitie5 Housing benefit Rent 200,089 71,550 217.675 61.459 271.639 279,134 Investment income Deposit account interest iJoo Total incoming resources 382.498 448,894 EXPENDITURE Charitable activities Wages Social security Pensions Hire of plant and machinery Rates and water Insurance Light and heat Telephone Office costs Sundries Food Rent Garage rent Residents activities Carried forward 185,796 10,498 3,511 2,496 8,380 5,881 16,276 458 496 4,112 21,268 3,997 635 1,950 265,754 177,723 10,456 3,491 2.496 8.627 6,068 16,745 366 734 6.662 26.804 3,853 264,025 This page does not form part of the statutory financial st&t¢ments Pag¢ 18

MICHAELS LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Charitable activities Brought fonvard Repairs and maintenance Motor and trdve Cleaning Training Bike projecl Jubilee House 265,754 21J91 3,666 2,832 186 2,448 1,060 264,025 18,993 4,978 2,885 1,859 2,161 863 297J37 295,764 Support eosts Other Wages Social security Pensions Bank charges Professional f¢¢5 Accountancy Motor and travel Office expenses Sundry Depreciation of tangibl¢ fixed assets 13,101 1,404 524 87 4,914 1,524 407 2,863 905 8,691 12.595 1,341 313 6,282 I,M8 553 3,299 3,095 9,094 34,420 38,080 Total resources expend¢d 331,757 333.844 Net income 50,741 115,050 This page does not forni part of the statutory fllwicial statements Page 19