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
1. Apologies
2. Minutes of AGM 28th October 2020 (below)
3. Matters arising therefrom.
4. Chairman's report
5. Adoption of Annual Report and Financial Statements.
6. Re-appointing of auditors for 2021/2022
7. Chief Executive’s Review of the Year.
8. Re-appointment of Directors: Directors retiring by rotation, Martin Slade and Jane Kelly
11. 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
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