2022-03-31-accounts - Michaels Limited

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

Thirtieth Annual Report 2021/2022

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 that 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 Thirtieth Annual General Meeting

To be held at Michael House at 5:30pm on Wednesday 26[th] October 2022

AGENDA

Apologies.
Minutes of AGM October 2021 (below).
Matters arising therefrom.
Adoption of Annual Report and Financial Statements.
Chief Executive’s Review of the Year.
Re-appointment of directors: Directors retiring by rotation, Rosemarie Veale
Thank you to retiring director, Blair Crawford.
Appointment of auditors for 2022/2023.
Any other business of which notice has been given.

R S V P

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

Minutes of AGM of Michaels Ltd held online via Zoom

On 27[TH] October 2021 at 5.30pm

Present: Martin Slade (Chair), Directors, Staff and Friends of Michael House (11 attendees) Apologies: Board Members MR and CP

Minutes of AGM 2020: Distributed, agreed and signed.

Matters Arising: Nil

Chairman’s Review of the Year: Martin Slade presents his review of the last year. Annual Report and Financial Statements: Read by John Malins, discussed and adopted. Appointment of Auditors: Carter & Coley were reappointed as Auditors for 2021/2022. Chief Executive’s Review of the Year: Mark Horsford presents his annual report.

Reappointment of Director’s: Martin Slade and Jane Kelly re-elected to serve for a further three years. There being no further business the meeting was closed

Board of Directors

Martin Slade – Chairman John Coulston – Lifetime President John Malins – Financial Director Mary Randell, MBE Rosemarie Veale – Secretary Malcom Clarke Helen Hender BA Blair Crawford Cllr Jane Kelly Nick Beal James Ratcliffe 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

Nikita Vassilyev – Support Worker Jeanette Ware – Support Worker

Chairman’s Report

Good afternoon and on behalf of my fellow trustee’s, welcome everyone to this, our 2022 AGM. It is enormously pleasing to see so many friends here this afternoon on what is a special AGM, coming in the 30th year of the forming of Michael House. Who would have thought in 1992, at the start of this outreach work providing shelter and support for the homeless, that we would be here today 30 years later, providing the same support and shelter but in far more comfortable surroundings. In 1992 the homeless and homelessness were not on most Government or agencies agenda’s as it was not considered a social problem. That’s because it was largely hidden and ignored, particularly in Bournemouth and similar seaside aspirational and flourishing towns. However, the founders at that time did not accept that social view and their dedication and selflessness laid down the roots that enabled Michael House to grow and flourish into what we see here today. But this building is not the whole story, Michael House is much more than housing and shelter. It’s support and education, its providing social skills and help to those who want it, its providing opportunities to those who want to re-establish themselves and move on and if someone wants something that we don’t offer, then providing its legal and affordable, Mark and his team will go out of their way to provide it.

This year we have seen further successes in the Bournemouth in Bloom competitions, we have seen the establishment of a Library, not just for residents but also the wider community, we have seen the bike project continue to grow and provide a much needed facility within the community, in ever increasing hard times. We have seen residents gaining independence within their own homes at Jubilee House and Seabourne Road; and there have been other smaller projects and achievements which Mark will mention later.

It's for me, on behalf of the trustee’s to thank the staff and our growing band of enthusiastic volunteers and ambassadors, most sincerely, for all they do throughout the year. Without your drive, enthusiasm, passion, and dedication which is there in equal measures, Michael House would not be the multi resource centre it is today. Now before I close my welcome, I want to ask John Coulson, who started this family and who is still as enthusiastic, dedicated and passionate today as I suspect he was in 1992 to say a few words about the early days. John is not known for his brevity because he can get carried away by his allconsuming passion for Michael House, but he did say he would be aware of time.

Thank you John and also the other founders here today of that original night shelter for your vision, dedication and hard work.

Martin Slade Chairman

Michaels Limited: Financial Overview 2020/21

Key Events

We finished the year with a cash / bank balance of £147k, down £95k in the year.

This is primarily due to the purchase of a one-bedroom flat in Seabourne Road, Southbourne for £137.5k in September 2021, as reported at last year’s AGM.

The ground lease on the two-bedroom flat purchased in 2019 was extended to 2146 at a cost of £23k, largely funded by a grant from the Garfield Weston Foundation, as reported at last year’s AGM.

We took part again in the Big Give Christmas Challenge, which raised another £15k, and we also received a generous donation of £10k on the last day of the financial year from the same last minute benefactor as last year, as well as a top-up of £10k from our bike ‘On The Move’ project sponsor.

As reported at last year’s AGM, the BCP Council benefits office agreed to our request to increase the housing benefit payment per resident with effect from 1st April 2021 to take account of the 7 empty beds in double rooms due to the coronavirus. Sadly, as it restricts the number of homeless people we can support, it seems unlikely that we will be able to revert to shared rooms in the foreseeable future

Conscious of the need to carefully manage day to day expenditure, spend in the year was £1k less than in 2019/21.

Since the end of the year, we have received a generous legacy payment of over £41k from the estate of the late Reverend David Ayton.

Summary

Michaels is still in a strong financial position to continue, and expand on, the good work it is doing, 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 2021/2022

Income	Year ended 31.3.22	Year ended 31.3.21
INCOME
Grants	10,000	33,000
Donations	66,244	66,783
Legacy	0	7,953
Investment Income	378	1,300
Housing Benefit	251,162	200,089
Rents	73,531	71,550
Other Income	1,140	1,823
Total	402,555	382,498

EXPENDITURE
Staffing Costs	200,699	214,834
Food	18,572	21,268
Rent	7,736	3,997
Rates & Water	7,288	8,380
Heat & Light	20,037	16,276
Insurance	6,149	5,881
Repairs & Renewals	32,260	26,719
Motor & Travel	6,005	4,073
Administration	10,238	10,342
Sundries	11,356	11,296
Depreciation	9,989	8,691
Total	330,329	331,757

SURPLUS	72,226	50,741

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, 46/48 Grosvenor Gardens, Bournemouth, BH1 4HH, or by phoning 01202 393178, or can be accessed online.

Chief Executive’s Review of the Year

It’s 2022, 30 years since the Charity was founded and after the last two Zoom meetings, we can finally have meet face-to-face AGM, even if it is undercover in the Michael House Wildlife Garden, we have tea, coffee and most importantly cake!!

Michaels is currently able to accommodate 29 individuals at any one time. Between April 2021 and the end of March 2022, we provided support and accommodation to 27 new residents, including two rough sleepers with a pet. We saw 18 individuals successfully moved into independent accommodation or returning to live with family members or friends, with 11 residents who either abandoned or left the service with a negative outcome.

The last few years have understandably changed the dynamics of the house, but over the last few months it has been refreshing to be able to create more in-house activities. We have welcomed back baking, chocolate bingo and the peer mentoring Clarity Group. Residents have also started to feel more comfortable to facilitate their own resident-led activities, such as regular quiz and film nights.

Moving forward, we hope to develop more activities that will ensure that we can focus on helping people gain additional skills that will help people to gain additional skills, focusing on energy saving ideas, such as One Pot Cooking and Cooking on a Budget. All of which can be assessed and certificated through Unit Awards.

In November 2021 we were able to move one of our residents from our move-on accommodation into our new independent living flat, based in Southbourne. The Boscombe Charity Shop have been a huge support, as they provided funds to fully furnish our new flat and also renovate our move-on flat in Drummond Wolff House. This generosity has helped to create a homely environment for our residents to move forward with all the home comforts that help people to feel more settled.

A recent Homeless Link survey reported that 73% of homeless people are said to have a physical health issue and 41% said that this was a long-term health issue. We recognised that the nearest community defibrillator was at least a 10 minute walk from Michael House, which would be a 20 minute round walk. To mark our 30[th] Anniversary we wanted to continue to support the wider community in the work that we do, and best protect our residents in the event of a medical emergency, therefore, we have funded and installed a Community Defibrillator at the front of Michael House. In addition to this life saving initiative, and in memory of our friend and supporter, the late Reverend David Ayton, we have also installed a Community Book Library (Book Swap) to encourage our residents, friends and neighbours to share the joy of reading and reduce the amount of unwanted books going to landfill.

Our community bike project ‘On The Move’ is going from strength to strength. We have continued to work with Dorset Police and are now receiving donated/abandoned bikes and we hope to expand our partnership with Joy Café in the Spring and provide more free bike safety checks for the community.

Michael House took part in a research project, funded by Homeless Link, that specifically looked into fairness in enterprise. Martin Burrows from Inclusive Insight held several focus groups and interviewed staff and volunteers (past and present) to understand the core aims of the project. A best practice guide will be launched in November 2022 and will feature a case study from Michael House.

I would like to take this opportunity to thank each and every member of the Michael’s Team for their hard work and support. Your combined dedication and length of services is hugely valued and makes Michael House the service it is today.

And finally, on behalf of the residents, volunteers, staff and trustees, we would like to thank our incredible Friends and Charity Ambassadors for continuing to support Michael House and the work that we do. The current economic and global uncertainty has had a massive impact on every aspect of our work and certainly fundraising. Your support has been unfailing and inspiring - You truly are ‘The Key to Rebuilding Lives.’

Mark Horsford Chief Executive

From left to right: Tracey from Waitrose and Partners in Christchurch – Providing Christmas food, The Michaels Charity Rose available from World of Roses, Responsible Dog Owner Unit Award, Resident Moving On, Katrina Fox Piano Studio, On The Move Pop Bike Safety Checks with Dorset Police, Fundraising with South Coast Makers Market, The Michael House Wildlife Garden, Jack running the London Marathon, Deerview Equine Interventions TheHorseCourse ReStart Sessions, Michael House Summer BBQ’s with Reason and Vasco and Sarah-Jane from Pooch and Ponies Mobile Grooming Salon and Spa.

As part of our in-house activities, we are now able to offer low-cost reconditioned bicycles to the community. We can also arrange affordable repair and parts service at the On The Move workshop - Please call in advance. Available Bikes are listed on the Michael House Facebook pages @MichaelHouseOnTheMove & @MichaelLimited

Artwork provide by Lucan Art 2022.

REGISTERED COMPANY NUMBER: 03271465 (EDgland and Wales) REGISTERED CHARITY NUMBER: 1058938 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR MICHAELS LIMITED Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE

MICHAELS LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Report of the Trustees Independent Examiner's Report Statement of Fillanei21 Activities Balance Sbeet Note5 to the Finalleial Statemen15 8 10 14 Det2iled Statement of FiDan¢ial ActIltieS 15 10 16

MICHAELS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the )'ear ended 31 March 2022. The trustees have adopted the proi'isions of Accounting and Reporting bs. Charities= Statement of Recommended Pra¢li¢e applicable to charities preparing their accounts in accordance with the Finaiicial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). 0ECTIVEs AND ACTIVITIES Objectives and aims Tlie object of the company is thc lief of poi-ert>' parttcularls. amongst homeless people in Sollth East Dorsei, and elsewhere in the United Kingdom. b), the proi'ision of tetnporary accomiiiodalion. food. clothing. advice and resettlement. It also pmyides facilities for ¢tion and other leisure time o¢¢upaiion for such persons with the objecl of improving iheir condition of life. Significant activitie5 As mcntioncd in last )'ear's report. in July ?0? l a one-bedroom flat a5 duly acquired for £137,500 in response to the need identified for further third-tier tnove-on accommodation. The gmund lease on the tw(Fbedr(Mim flat purchased in 2019 'aS extended to 2146 at a cost of £23.000. larg¢ly funded by a grant from the Garfield Weston Foundation. FINANCIAL REVIEW Reserves policy Tlie Charily s¢¢ks to retain sufficient reserves that all0S it to continue to carry out il's charitable activities for a period of four months. STRUCTURF., GOVERNANCE AND MANAGEMENT Governing document The charity. is controlled by its governing document. a deed of trust. and conslitutes a limited company, limited by guaraniee, as defined by the Companies A¢1 2006. Organisational structure A Comtnittee of Manag¢m¢ni runs the company. It has Close links i¥iih local councils, health providers and national chariiable organisations. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Dumber 03271465 (England and Wales) Registered Charity number 1058938 Registered office 46 Grosvenor Gardens Boscombe Bournemouth Dorset BHI 4HH Page I

MICHAELS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Trustee5 Mr J Coulston Mrs R E Veale Mr M Clarke MrJ B Crawford Mr5 H C Hender Mrs M E Rand¢ll MrNSBeal Ms J Kelly Mr M G Slade Mr J C Malins Mrj D Ralcliffe Ms C D Paltner Company Seerelary Mrs R E Veale Independent Examiner Anthony. Cooke Chartcred Accountant Carter & Coley Chartcrcd Accountants 3 DLirrant Road Bournetllouih Dorset BH2 6NE Approved by order of the board of trustees on 15 June 202? and signed on its behalf by.. Mr J C Malins - Trustee Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MICHAELS LIMITED Independent examiner's report to the trustees of Micbaeb Limited ('the Company,) report to th¢ charity trustees on my ¢xamination of the accounts of the Company for the year ended 31 March 2022. Responsibilities and basis of report As the chariws trustees of the Company (and also its directors for the purposes of company law) J'ou are respoiisible for the prepardlion of the a¢¢ounts in accordance i¥iih the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied mysclf that the accounls of thc Cownpon}" are nol required to be audited under Part 16 of ihe 2006 Act and are eligible for independent examination. I report in respe¢t of my examinatioii of your charity s accounts as carried out under section 145 of ihe Charities Act 2011 ('the 2011 Aci,). In carrying out m). examination I have folloived the Directions given by the Charity Commission under section 145{51 {b) of the 2011 Act. Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MICHAELS LIMITED Independent exxminer's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a list¢d body. I can confirtn that l am qualified to undertake the exaTninaiion because l am 2 regisl¢r¢d member of Chartered A¢¢ountant which is one of ihe lisled bodies. I have completed my examination. I confimi that no matters have come to my attention in connectioii with the examination giving me cause to believe= accouniing records were not kept ill respect of the Company as required by section 386 of the 2006 Act: or thc accounts do not accord ii'ith those records- or the accounts do not comply i"11h the a¢¢ounting requirements of section 396 of the 2006 Act other tlian any requiremeni that the accounts give a true and fair view ,hich is not a matter consid¢red as part oran independent examination; or the accounis have not b¢en prepared in accordance i*"ith the methods and principles of ihe Sial¢m¢nl of Recommended Practice for accounting and reporting bv charities (applicable to charilies preparing tlieir accounts in accordance 1th the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland {FRS 10?)). I have no ¢oncerns and hai'e coJne across no other matlers in connectioii '1th the eiaininatioi) to w'hicli attention sliould b¢ drawn in ihis report in order to enable a proper understanding of the accounts to be reached. th er AcL(>unianl Coley Chart ed Accouniants 3 Diirra t Road Bournemouth Dors¢t BH2 6NE 15 June 2022 Page 4

MICHAELS LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 2022 Total funds 2021 Total funds Unresiri¢ted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 67J84 10.000 77J84 109,559 Other trading activities Investment incotne 324,693 478 324.693 478 271,639 1,300 Total 392,555 10,000 402.555 382,498 EXPENDITURE ON Charitable activities Siipporting people 330J29 330J29 331,757 IYET INCOME 62226 10,000 72326 50.741 Transfers betweett funds 13 30,000 {30,000) Net movement in fullds 92226 {20,000) 72,226 50,741 RECONCILIATION OF FUNDS Total funds brought fonvard 812377 20,(M)O 832077 782,136 TOTAL FUNDS CARRIED FORWARD 905,103 905,103 832.877 The notes forni part of these financial statements Page 5

MICHAELS LIMITED BALANCE SHEET 31 MARCH 2022 2022 Total runds 2021 Total funds Unrestricted Restricied funds funds Notes FIXED ASSETS Tangible asseis 747213 747213 585.802 CURRENT ASSETS Debtors Cash at bank and in hand 10 25,103 146,655 25,103 146,655 23,917 241,871 171,758 171,758 265,788 CREDITORS Amounts falling due within one year (13868) (13,868} (18,713) NET CURRENT ASSETS 157,890 157090 247,075 TOT AL ASSETS LESS CURRENT LIABILITIES 905.103 905,103 832,877 NET ASSETS 905,103 905,103 832.877 FUNDS Unrestrictcd fiinds Restricted funds 13 905,103 812,877 20.000 TOTAL FUNDS 905,103 832,877 The charilable compan), is entitled io exemption from audit undcr Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required ihe company to obtain an audil of its financial statements for the year ended 31 March 2022 in accordance ivith Section 476 of the Companies Ath 2006. The trustees acknoth'ledge their responsibilitics for (a) ensuring that the charitable company keeps accounting COrdS that comply with Sections 386 and 387 of the Companies Act 2006 and (bl preparing financial staiemenis which give a true and fair view of the slat¢ of affair5 of the charitable company as at the end of each financial year and of its surplus or deficil for each financial year in accordance wilh the requiremenis of Sections 394 Mnd 395 and i¥hich otherwise comply with the requiretnenis of the Companies Act 2006 rclaiing to financial statements. so far as applicable to the charitable compan).. The noles forn) part of these financial statements Page 6 continued..

MICHAELS LIMITED BALANCE SHEET- continued 31 MARCH 2022 Th¢se financial statemenis have been prepared in accordance with the provisions applicable to cliaritable ¢ompanies subject io the small compani¢s regime. The financial siatements were approved by the Board of Trusie¢s and authorised for issue on 15 June 2022 and N%'¢re si8iied on its behalf by.. Mr J C Malins - Trustee Mrs R E Veale- Tn]stee The notes form part of these financial Statements Page 7

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUIYTING POLICIES Basis of preparing the financial statement5 The financial statements of the charitable ¢ompany. which is a public benefit entity under FRS 102, have been prepared in accordan¢¢ with the Charitics SORP (FRS 102) 'Accounting and Reporting by Charities= Staiement of Recommended Pra¢tice applicable to charities prepariiig their accounts in accordance ivith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Januat). 2019),. Financial Rep)rting Standard 102 'The Financial Reportiiig Standard applicable in the UK and Rcpublic of Ireland. and the Companies Act 2006. The financial statements hae been prepared under the historical cosi convention. Income All incoine is recogynised in the Stalemcnt of Financial Activitie5 once the charity, has entitlemenl to tl)e funds, it is probic ble that the income i¥ ill be receii."ed and ihe amount can be measured r¢liably. Expenditure Liabilities are recoonised as expenditure as soon as the is a legal or consfructive obligation ¢ommitting the charity to that expenditure. it is probable ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Eip¢nditiire is a¢coLinted for on an accruals basis and has beet) ¢lassified under headings that aggregate all cost related to Ihe ¢ategory. Where costs cannot be dircctl). attributed to particular licadings they have been allocated to acti711¢$ on a basis consisient wilh the use of resources. Tangible fixed assets Depreciation is provided at the folloiving annual rates in order to writ¢ off each asset over its eslitnated useful life. Freehold property Long leasehold Fi.xtLires and fittings Motor vehicles 2Yo on cosl in accordance ivith th¢ ierni of the lease 150/0 on redu¢ing balance ?50/o on reducing balance Taxation Thc cl)arit>' is exempt from corporation tax on its chariiable activities. Fllnd accounting Unreslricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be Lised for particular restricted purtK)ses i*iihin Ihe objects of the charity. Restrictions aris¢ when specified bj. the donor or hen funds are raised for particular reslricted purposes. Further explanation of the nature and purpose of each fund is included in ihe noles to th¢ financial statements. Hire purchase and leasing ¢ommitmeDts Rentals paid under operating leas¢s are charged to the Statement of Financial Activities on a straight line basis over the peri of the lease. Page 8 Continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES- cootinued Pension c05¢5 and other post-retirement benefits Thc charitable compan). operates a defined contribution pension scheme. Contributions payable to the charitable cofflpangs pension scheme are charged to the Ststement of Financial Activities in the period to which they relale. OTHER TIL4DING ACTIVITIES 2022 2021 Housing benefit Rent 251,162 73531 200.089 71.550 324,693 271,639 INVESTMEI¥T INCOME 2022 2021 Deposit account interesl 478 1.300 NET INCOMEIIEXPENDITURE) Net incom¢l(expenditure) is stated &fter chargingl(crediting)'. 2022 2021 Depreciation - owned ossels Hire of plant and machine Independent examin¢rs fee 9,989 8,691 2,496 I,S24 1,550 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2022 nor for the J'ear ended 31 March 2021. Tru5tees' expenses There iv¢r¢ no tnjstees. expenscs paid for the year ended 31 March 2022 nor for the year ended 31 March2021. Page 9 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 STAFF COSTS The average monihly numb¢r of emplo>'ee5 during the )'ear was as follows- 2022 2021 Adininistralion Support 10 No employ¢¢s received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Resiricl¢d funds funds Total funds INCOME AND EIYDOWMENTS FROM Donations and Icga¢ies 76.559 33,000 109,559 Other trading activities Investment in¢ome 271.639 1,300 271,639 1,300 Total 349.498 33,000 382,498 EXPENDITURE ON Charitable actii'ities Supporting people 318.757 13.000 331,757 NET INCOME 30,741 20,000 50,741 RECONCILIATION OF FUNDS Total funds brought forn'ard 782.136 782,136 TOTAL FUNDS CARRIED FORWARD 812.877 20.000 832,877 Page 10 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 INTANGIBLE FIXED ASSETS Goodwill COST At l April 2021 and 31 March 2022 15,000 AMORTISATION At l April 2021 and 31 March 2022 15,000 NET BOOK VALUE At 31 Mar¢h 2022 At 31 Mar¢h 2021 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Long leasehold Motor vehicles Totals COST At l April 2021 Additions 484.890 147,437 109,745 23,963 18,785 20,760 634,180 171,400 At 31 March 2022 632J27 133,708 18,785 20,76 805580 DEPRECIATION At l April 2011 Charoe for year 12,929 7244 4,480 1.078 14,017 715 16,952 952 48J78 9,989 At 31 March 2022 20,173 5558 14,732 17,904 58J67 NET BOOK VALUE At 31 March 2022 612,154 128,150 4,053 2,856 747,213 At 31 March 20?1 471.961 105,265 4,768 3,808 585,802 A grant of £118,795 a5 received from the National Lottery Charities Board in 1998 to fund the purchase of additional chariiabl¢ accommodation. The total cost of the freehold property before deduction of grants is £148,544. In the opinion of the trustees the fair value of the charity's property is in ¢x¢¢ss of £1.200,000. Page 11 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMEIYTS- continued FOR THE YEAR ENDED 31 MARCH 2022 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Prepayments and ac¢rued income 25,103 23,917 I I. CREDITORS: AMOUNTS FALLING DUE wfrHIN ONE YEAR 2022 2021 Trade creditors Social seciirity and othcr taxes Pension control account Accruals and deferred income 3J43 1.039 288 8.698 1,436 3,214 700 13,363 13,868 18.713 12. LEASING AGREEMELYTS Minimum lease payments under non-cancellable operdting leases fall due as follows.. 2022 2021 Witliin one year BetNveen onc and five years 2,496 4,368 6,864 13. MOVEMEiYf IN FUNDS Net movemeni in funds Transfcrs beti¥een funds At 3113122 At 114121 Unrestrieted funds General fund Short terni projects Running costs fund Bike Projecl 745I75 10,000 50,(N)O 7,002 60,855 30,000 836,730 10,000 50,000 8J73 lJ71 812,877 62226 30,000 905,103 Restricted funds Tlie Valeiitine Trusl Garfield We51on 10,000 (10,000) (20.000) 20,01)0 20.0(KJ 10,000 (30,000) TOTAL FUNDS 832,877 72226 905,103 Page 12 continued...

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDF.D 31 MARCH 2022 13. MOVEMENT IN FUNDS- eoDtiDued Net movetnent in funds, included in the abov¢ a as follows= Incoming resourc¢s Resources expended Movement in funds Unrestricted fund$ General fund Bike Project 377.966 14,589 (317,111) (13218) 60,85S lJ71 392J55 (330J29) 62,226 Restricted funds l-he Valcniine Trust 10,000 10,000 TOTAL FUNDS 402555 (330J29) 72,226 Comparatives for movemellt in funds Net movetnent in funds Transfers At 3113121 At 114120 funds Unrestricted funds General fiind Short term projccts Running ¢osls fund Bike Project Seedbed Hilary William5 Charitable Trust 702.297 i 0,000 50.000 17,839 1.500 500 41,944 1,500 745.741 i 0,000 50.000 7.136 (10,703) {1,500) (500) 782.136 30,741 812,877 Restricted fund5 Garfield Weston 20.000 20,000 TOTAL FUNDS 782,136 50.741 832,877 Page 13 continued..

MICHAELS LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 13. MOVEMENT IN FUNDS- continued Comparative nel movement in fund& included in the above are as follows.. Incoming resources Resources expended Movemeiit in funds UDre5tricted funds General flind Bike Project Hilary. Williams Charilable Trust 349.498 (307.554) (10,703) (500) 41,944 (10,703) (500) 349.498 (318.757) 30.741 Restricted funds COVID-19 assisian¢e National Lotiery. Community Fund Garfield Weston 4.51M) 8.500 20.000 (4,5001 {8,500} 20,000 33.000 {13.000) 20,000 TOTAL FUNDS 382,498 (331.757) 50.741 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2022. 15. COMPANY LIMITED BY GUARANTEE In the event of the company beingi iiound up. its tnctnb¢rs al the time together w'ith those who c¢as¢d to be meiiib¢rs within a year of the i%"inding up, are required to contribute an amount not exceeding £10 per member toil'ards an). liabilities of the compan).. Page 14

MICHAELS LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 INCOME AND ENDOWMENTS Donations and legacies Donations Giftaid Legacies Grants Sundry receipts 61,406 4,838 60.493 6.290 7.953 33.000 1,823 10,000 1,140 77J84 109,559 Other trading activities FIoLising beiiefit Rent 251,162 73,531 200.089 71,550 324,693 271.639 Investment incotlle D¢posit accouiit inlcresl 478 1,300 TotAI ineoming resources 402,555 382.498 EXPENDITURE Cbaritable activitie5 Wages So¢ial security Pensions Hire of plant and machinery Rates and ivater Insurance Light and heat Telephone Office costs Sundries Food Rent Garage rent Residents activities Carried forward 170,810 11,179 3,652 185.796 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 7,288 6,149 20,037 490 463 1,567 18,572 7,736 840 636 249,419 This page does not fomi part of the statutory financial slatem¢nts Page 15

MICHAELS LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Charitable aetivities Broug?ht forward Repairs and mainlenAnce Property refurbishrneni Motor and travel Cleaning Training Bike project Jubilee House 249,419 24,744 2,419 265,754 21.391 3,666 2,832 186 2.448 1,060 5,097 95 5,223 150 292.639 297.337 Support costs Other Wa&y¢s So¢ial security Pensions Bank charges Professional fees AccoLintanc)' Motor and travel Office expenses Siindri, Depreciation of ian¥ible fixed assels 13.156 lJ76 526 13.101 1.404 524 87 4,914 1,524 407 2,863 905 8,691 4,762 513 2,856 2,845 9,989 37,690 34.420 Total resources expended 330J29 331,757 Net income 72,226 50,741 Thi5 page d(*s not forn) part of the statutory financial statements Page 16