REGISTERED COMPANY NUMBER: 03271465 (England and Wales)
REGISTERED CHARITY IYUMBER: 1058938
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
MICHAELS LIMITED
Carter & Coley
Chartcrcd Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

MICHAELS LIMITED
CONTEIYTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of the Truslees
Independenl Examlner's R¢port
Statement of FinAnel81 Actlvldes
Balance Sheet
Notes to the Financial Statements
8 10 14
Detailed Statement of Flnan¢lal Activities
15 to 16

MICHAKLS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The tNstees who are also directors of the charity for the purpr)ses of the Companies Act 2006) presenl their
report with the financial statements of the charity for the year ended 31 March 2025. The trustees have
adopted the provisions of Accounting and Reporting by Charities: Statement of Rccommended Practice
applicable to charities preparing their accounls in accordance with the Financial Reporting Siandard
applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019).
0￿ECTIVEs AND ACTIVITIES
Objectives and 4ims
The object of ihe company 15 the relief of poverty particularly amongst homeless people in South East
Dorset, and elsewhere in the United Kingdom, by the provision of temporary accommodation, food, cloihingj
advice and resettleinent. It also provides facilities for recreation and other leisure time oc¢upation for such
persons wilh the object of improving their condition of life.
Slgnlficant actlvltles
As reported in last year's accounts, we purchased another on¢-bcdroom flat in Bournemouth in May 2024.
This flat was duly occupied in November 2024 after some refurt)ishment work was completed, enabling
another resident to get closer lo the end of their journey.
We are now able to accommodate up to 29 homeless people, both male and feniale.
FINANCIAL REVIEW
Reserves pollcy
The Charity seekb to relain sufficient reserves that allows it to ¢ontinue to carry out il's charilable activities
for a period of four months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governins document, a deed of trusl, and constilules a limited company,
liiiiiled by guarantee, as defined by the Compani¢s Act 2006.
Organlsatlonal structure
A Comniiltee of Manag¢m¢nt nins the company. It has close link5 Wlth local councils. health providers and
national charitable organisations.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company number
03271465 (England and Wales)
Reglstered Charlty number
1058938
Registered office
46 Grosvenor Gardens
Boscombe
Bourncmouth
Do￿t
BHI 4HH
Page I

MICHAELS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Mr J Coulslon
Mrs R E Veale
Mrs H C Hender
Mrs M E Randell
MrNSBeal
Ms J Kelly
Mr M G Slade
Mrj C Malins
Mr J D Ratcliffe (resigned 9110,:2024)
Ms C D Palmer (resigned 101712024)
Company Secretary
Mrs R E Veale
Independent Examlner
Anthony Cooke FCA
Caner & Coley
Chartered Accountants
3 Durrant Road
Boumemouih
Dorset
BH2 6NE
Approved by order of the board of trustees on 4 June 2025 and signed on its behalf by:
Mr J C Malins- Trustee
Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MICHAELS LIMITED
Independent eiamlner's report to the tnistees of Mlehaels Limited {'the Company,)
report to the charity trustee5 on my examination of the accounts of the Company for thc year ended
31 March 2025.
Responslbllllles and basts of report
As the charity's trustccs of the Company (and also its directors for the pu￿SeS of company law) you are
responsible for the preparation of the accounis in accordance with the Tequirements of the Companies Acl
2006 {'Ihe 2006 Act,).
Having satisfied myself that the accounts of tlie Company are nol required to be audited under Part l6 of ihe
2006 Act and are eligible for independent examination, I report in respexl of my examinalion of your
charity's accounls as Ca￿led oul under Section 145 of the Charities Act 2011 ('the 201 l Act,). In carrying out
my examination I have followed th¢ Directions given by the Charity Commis¥ion under s￿tion 145(51 (b) of
the 2011 Act.
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MICHAELS LIMITED
Independent examfiner's statement
Since your charity's gross income exceeded £250,000 your examiner must b¢ a member ot" a listed body. I
can confirn] that l am qualified io undertake ihe examination because l am a member of the Institute of
Chartered Accountanls in England and Wales, which is one of the listed bodie5.
I have completed my examinalion. I confirni that no matters have come to my attention in connection with
the examination giving me cause lo believe:
accounting records were not kept in respect of the Company a5 required by SeLlion 386 of the 2006
the accounls do not accord with those records. or
the aecounls do not comply with the accounting reqiiiTem¢nts of Section 396 of the 2006 Act other
than any requirement that the accounls give a true and fair view which is not a maller considcred as
part of an independent examination- or
the accounts have not b¢¢n prepared in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities {applic3ble lo charities preparing
their accounls in accordance wilh th¢ Financial Reporting Standard applicable in Ihe UK and
Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in Connection with the examinatiM to which
attenlion should be drawn in this report in order to enable a proper underslanding of tlie accounls to be
reached.
th
& Coley
ered Accountants
nt Road
Bou
emouth
Dorset
BH2 6NE
4 June 2025
Page 4

MICHAELS LIMITED
STATEMEIYT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
Total
funds
2024
Total
funds
L'nrestrict¢d Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
29,645
20,421
$0,066
41,574
Other trading activities
Invcstmcnt incomc
415,218
6,138
415,218
6,138
405,826
4,405
Total
451,001
20.421
471,422
451,805
EXPENDITURE ON
Charitable activities
Supporting people
440,547
20,421
460,968
383,464
NET INCOME
10,454
10,454
68.341
RECONCILIATION OF FUNDS
Total funds brought foNard
1,016,521
1,016,521
948,180
TOTAL FUNDS CARRIED FORWARD
1,021975
1,026,975
1,016,521
The notes fom) part of these financial statements
Page 5

MICHAELS LIMITED
BALANCE SHEET
31 MARCH 2025
2025
Total
funds
2024
Total
nd5
Unrestricted
fund5
Restricted
funds
Notes
FIXED ASSETS
Tangible assets
885,253
885,253
731,621
CURRENT ASSETS
Debtors
Cash at bank and in hand
10
39,3S7
114,970
39,357
114,970
30,479
268,297
154J27
154,327
298,776
CREDITORS
Amounts falling diie within one year
(12,605)
(12.605)
(13,876)
NET CURRENT ASSETS
141,722
141.722
284,900
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,026,975
1,026,975
1,016,521
NET ASSETS
1,026,975
1,026,975
,016,521
FUNDS
Unrestricted funds
12
1,026,975
1,016,521
TOTAL FUNDS
,026,975
,016,521
The charitable company is entitled ro exemption from audit under Section 477 of tlie Compaiiies Act 2006
for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 2025 in accordance wilh Section 476 of Ihe Companies Act 2006.
The tru51ee5 arknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387
of the Companies Act 2006 and
(b) preparing financial staiements which give a true and fair view of the state of affairs of the chariiable
company as at the end of each financial year and of its SUTplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with ihe
requir¢ments of the Companies Act 2006 relating to financial statement5, $0 far as applicable to the
charitable company.
The notes forni part of ihe5e financial slalements
Pag¢ 6

MICHAELS LIMITED
BALANCE SHEET- continued
31 MARCH 2025
These financial statements have been prepaTed in accordance with the provisions applicable to charitable
companies subject to rhe small companies regime.
The financial statements were approved by the Board of Truslees and authorised for issue 011 4 June 2025
and were signed on its behalf by..
Mr J C Malins - Tn￿tee
¢£(oc
Mrs R E Veale - Truslee
The notes fomi part of thes¢ financial statements
Pag¢ 7

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basls of prepAring the financlal statements
The financial statements of the charitable company* which is a public benefil entity under FRS 102,
have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by
Charities: Statement of Recommended Practice applicable to ¢harilies preparing their accounts in
accordance wilh the Financial Reporting Standard applicablc in ihe UK and Rcpublic of Ireland {FRS
102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and ihe Companies Act 2006. The financial statements
have been prepared under the historical cosl convention.
Income
All Income is reeognised in the Siatement of Financial Activities once the charity has entitlement to
Ihe ￿nds, it is probable Ihal the Income will bc received and the amount can bc measured reliably.
Expendlture
Liabilities are recognised as expenditure as S¢)on as there is a Icgal or constructive obligation
committing the Lhtirily lo that expenditure, il is probable that a transfer of economic benefits will be
reqiiired in s¢iilement aiid the amount of the obligation can be measiired reliably. Expenditu￿ is
accounted tor on an accNals basis and has been classified under headings that aggregate all cost
related to th¢ category. Where cosls cannot be direeily atiribuled to particular headings they have
been allocated to activities on a basis consistent wilh ihe use of r¢sources.
Tinglble Ilxed ASSets
Dcprecialion is provided at the following annual raies in order lo write off each asset oiler its
estimated useful lifc.
Freehold property
Long lcaschold
Fixttires and filliiigs
Motor vehicles
20/0 on cost
in accordance willi the lem of the lease
151J/o on reducing balance
250/0 on reducing balance
Taxatlon
Thc charity 18 exempt from con)oration tax on 115 charitable activities.
Fund Aecountlng
Unrestricled funds cali be used iii accordance with tlie charilable objectives at the discretton of the
Irustees.
Restri¢t¢d funds can only be used for particular restricted purposes within the objects of the ¢harily.
Restrictions arise when specified by the donor or when funds are raised for particular restrictcd
purposes.
Further explanation of th¢ nature and pU￿0$e of each fund is included in the notes to the financial
statements.
Page 8

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES- continued
Pension eosts Vdnd other post-retlrement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to
the chanlable Companls pension scheme are charged to the Statement of Financial Actlvities in the
period to which they relate.
OTHER TRADING ACTIVITIES
2025
2024
Housing benefit
Rent
352,193
63,025
334,358
71,468
415,218
405,826
INVESTMENT INCOME
2025
2024
tkposit account interest
6,138
4,405
NET INCOMEIEXPENDITURE)
Net incoine/(expenditure) is stated after charginW(crediting)'.
2025
2024
Deprecialion - owned assets
Deficit on disposal of fixed assels
Independent examiners fee
20,200
3,458
1,900
10,434
1,810
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration OT Other benefils for the y¢ar ended 31 March 2025 nor for the
year ended 31 March 2024.
Trustees, expenses
There were no tnist¢es' ¢xp¢ns¢s paid for the year ended 31 March 2025 nor for the year ended
31 March 2024.
Page 9

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
STAFF COSTS
The average inonthly niiinber of employtts during the year was as follows:
2025
2024
Administration
Supp)rt
10
10
No einployees received etnolutnents in cxcess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FIIYANCIAL ACTIVITIES
Unieslrict¢d Restricted
funds
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Doimtions and legacies
41,574
41,574
Other trading activities
Investment income
405,826
4,405
405,826
4,405
Tot&1
451,805
451,805
EXPENDITURE ON
Charltable actlvltles
Supporting people
383,464
383,464
NET INCOME
68,341
68,341
RECONCILIATION OF FUNDS
Total funds brought foThvard
948,180
948,180
TOTAL FUNDS CARRIED
FORWARD
1,016.521
1,016,521
Page 10

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
INTANGIBLE FtXED ASSETS
Goodwill
COST
At l April 2024 and 31 March 2025
15,000
AMORTISATION
At l April 2024 and 31 March 2025
Is,000
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Freehold
property
Long
leasehold
Motor
vehicles
Totals
COST
Al l April 2024
Additions
Disposals
632J27
168,69S
133,708
23.657
20,760
8,595
(20,760)
810,452
177,290
(20,760)
Al 31 March 2025
801,022
133,708
23,657
8595
966,982
DEPRECIATION
At l April 2024
Charge for year
Eliminated on disposal
34,661
16,020
7,714
1,078
17J02
953
19,154
2,149
(17J02)
78.831
20,200
(17J02)
At 31 March 2025
50,681
,792
I8,2S5
4,001
81,729
NET BOOK VALUE
At 31 March 2025
750J41
124,916
5.402
4,594
885,253
At 31 March 2024
597,666
125,994
6,355
1,606
731,621
A grant of £118.795 was received from the National Lottery Charities Board in 1998 to fund the
purchase of additional charitable accommodation. The total cost of the freehold property before
deduction of granis is £148,544.
In the opinion of the trustees the fair value of the charity's property is in excess of £1,400,000.
Pagell

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Prepayments and accrued income
39,357
30,479
11. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade creditors
Social security and other taxes
Petision control accouiit
Accruals and deferred incon
234
973
,791
,027
10,085
523
9,737
12,605
13,876
12. MOVEMENT IN FUNDS
Net
movement
in fuiids
At
3113125
At 114124
Unreslrlcted funds
General fund
Short tcmi projects
Running cosls fund
Bike Project
956,521
io,ooo
50,01)0
6,866
963J87
10,000
50,000
3,588
3,588
1,016521
10.454
1,026,975
TOTAL FUNDS
1,016,521
10,454
1,026,975
Page 12

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR EIYDED 31 MARCH 2025
12. MOVEMENT IN FUNDS- contlnued
Nel Inovenienl in fuiids, included in the above are as follows-.
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Bike Project
445,445
5,556
(438J79)
(1,968)
6,866
3,588
451,OOJ
(440,547)
10,454
Restrlcted funds
The Valenline Trust
Talbot Valley Tnjst
10,000
10,421
(10,000)
(10,421)
20,421
(20,421)
TOTAL FUNDS
471,422
(460,968)
10,454
Comparatlves for movement in funds
Nel
movement
in funds
At
3113124
At 114123
Unrestricted funds
General fund
Short temi projects
Running costs fund
Bike Project
871,804
i 0,000
50,000
16,376
84,717
956,521
10,000
50.000
(16,376)
948,180
68,341
1,016,521
TOTAL FUNDS
948,180
68,341
1,016,52l
Page 13

MICHAELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
12. MOVEMENT IN FUNDS - continued
Coinparative net moven)¢nt in funds. included iii the above are as follows.,
In¢oming
resources
Resourccs
expended
Movcment
in fund5
Unrestrlcted funds
General fund
Bike Project
446,139
5.666
(361,422)
(22.042)
84.717
(16,376)
451,805
(383,464)
68,341
TOTAL FUIYDS
451,805
(383,464)
68,341
13. RELATED PARTY DISCLOSURES
There were no related party transactions for thc year ended 31 March 2025.
J4. COMPANY LIMITED BY GUAIL4NTEE
In the event of the Company being wound up, its members at Ilie lime logether with those wlio ceased
to be m¢mb¢rs within a year of ihe winding up, are required to coThlribute an amount not exceeding
£ l O per inember towards any liabilities of the coinpany.
Page 14

MICHAELS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
INCOME AND ENDOWMENTS
Donations and legaeies
Donations
Gift aid
Legacies
Grants
Sundry receipts
25,483
1,191
37,491
2.373
247
780
683
20,421
2,971
50,066
41,574
Other trading aclivitie8
Housing benefit
Rent
352,193
63,02S
334,358
71,468
415,218
405,826
Investment Income
Deposit accouijt interesl
6,138
4,405
Total incomlng resour¢eg
471,422
451.805
EXPENDITURE
ChAritAble actlvltle$
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Office costs
Sundries
Food
Rent
Garage rent
Residents activities
Repairs and maintenance
Carried forward
218,892
13,564
4,192
7,326
6,864
21,191
2.216
447
7,221
9.176
10,634
1,545
964
59,191
363,423
202,008
10,551
4,366
8,201
6,738
25,043
1.939
433
3,718
26,913
5,652
305
1.413
30,079
327,359
This page does not forni part of th¢ statutory fmancial statements
Page 15

MICHAELS LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Charltable activities
Brought fonvard
Property refurbishment
Motor and travel
Cleaning
Training
Bike project
363,423
26,680
6J83
7,403
1,052
2,051
327,359
3,604
5,429
5.075
4.214
406,992
345.681
Support costs
Other
Wages
Social security
Pensions
Bank charges
Professional f¢¢s
Accountancy
Motor aiid travel
Office expenses
Sundry
Depieciation of tangible fixed assets
Loss on sale of tangible fixed assels
15,165
1,638
385
60
5,067
2.140
709
2,060
3,094
20,200
3.458
14,805
1,200
500
86
5.130
1,810
480
1,298
2,040
10,434
53,976
37.783
Total resources expended
460,968
383,464
Net Income
10,454
68,341
This page does not fonn part of the statutory financial statements
Page 16