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** 

1. Apologies. 

2. Minutes of AGM October 2021 (below). 

3. Matters arising therefrom. 

4. Adoption of Annual Report and Financial Statements. 

5. Chief Executive’s Review of the Year. 

6. Re-appointment of directors: Directors retiring by rotation, Rosemarie Veale 

7. Thank you to retiring director, Blair Crawford. 

8. Appointment of auditors for 2022/2023. 

9. 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**<br>**31.3.22**||**Year ended**<br>**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 ActI￿ltieS
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).
0￿ECTIVEs 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 all0￿S 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
ha￿e 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 acti￿711¢$ 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

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 ActI￿ltieS
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).
0￿ECTIVEs 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 all0￿S 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
ha￿e 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 acti￿711¢$ 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