HOMELESS AcfioN {A Company Lirnited by Guarantee) CONSOLIDATED FINANaAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2024 Company Number. 3366712 Registered Charity Number: 1063208
HOMELESS ACTION Flnancial Statsments For the year ended 30 May 2024 Contsnts Reference and Administrative Details Trustees, Annual Report Independent Auditorfs Report Consolidated Statement of Financial Activities io Consolldated Balance Sheet li Statement of Cash Flows 12 Notes to the Financial Statements 13-31
HOMELESS AcfioN Reference and Admlnlstrative Details For the year ended 30 May 2024 Re8lstered Charlty Name: Homeless Action Charlty Reglstratlon Number: 1063208 Company Registration Number: 3366712 Principal Offlo: 81 Ablngdon Street Blackpool Lancashire Fyi IPP Registered Offlce: 81 Abingdon Street Blackpool Lancashire Fyi IPP Trustees: Mrs L Edwards- Chalr Dr M O'Donnell Mr A Oldfield Mr S Robinson Mrs E Warren Solicitors: Napthens Jubiliee House East Beach Lytham St Annes Lanca5hire FY8 5FT Bankers: Lloyds Bank 25-27 Birley Street Blackpool Lancashire FYI IEG Audltor: Mitchell Charlesworth {Audltl Limited 3rd Floor 44 Peter Street Manchester M2 5GP
HOMELESS ACTION Trustees, Annual Report For the year ended 30 May 2024 The Trustees are pleased to present their annual dirertors, report together wlth the financial statements of the charlty forthe year ended 30 May 2024, which are also prepared to meet the requirements for a dlrectors. report and attounts for Companies Act purposes. On ioth March 2023 the name of the charty was changed from The Ashley Foundation to Homeless Action. The financial ststement5 comply with the Charities Act 2011, the Companies Art 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Prartlce applicable to charities preparing their accounts in accordance wlth the Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Objectfves and actlvltles The principal objertive of the charity throughout the year was the relief of poverty by the provision of accommodation to persons in need and providing support to cllents to assist them with the wider Issues of homelessness. This was achieved by the operation of 8812023: 138) hostel rooms spread across 2 site$12023.' 31 in Blackpool, Sunderland, and Blackburn, (2023 only) and 8312023: 83) self-contained Move On flats across 19 sltes12023.' 19) in Blackpool and Sunderland. In addltion, a further 49 hostel rooms were provlded on I slte In Blaekburn in June 23 prior to the termlnation of the lease and associated management agreement. This faclllty was operated for all 12 moths In 2023. The properties are occupled under differing arrangements including owned and operated, leased and operated and operated on behalf of other parties via management a8reements. In the hostels. da1 support is provlded to the cllents asslsting them with da1 Ilving skills. The cllents in the flats are supported to live independently. During the Covid pandemic additional accommodatlon was provided In both Blackpool and Sunderland, The provision of accommodation in Sunderland vla creatlve use of exlstlng accommodation is on-going. In addltlon, the Charlty supported the Severe Weather Emergency Provision requlrements of Blackpool Council in the wlnter of 23-24. The Charity's Community Café & Hub in Blackpool, which opened in 2019 continues to provlde opportunities for clients to experience practlcal work experience. During the year the use of the premises has been extended to operate evening drop in sesslons supported by Blackpool Palatine Rotary Club. In December 2022. the Charity began providlng out of hours securlty support services to a facility operated by Blackpool Coastal Housing. This provision ceased in November 2023. The Trustees are clear that the objectives and activities of Homeless Actlon are carried out for public benefrt. They have referred to the gUIdan contsined in the Charlty Comrnission general guidance on publlc benefit when reviewing the purpose and objettives and when plannlng the future activities. In particular, the Trustees will conslder how planned actlvltles will contribute to the aims and objectives they have set. A¢hlevements and performance Provlslon of accommodatlon - During the year accommodation was provided for 247 homeless Indlviduals in Blackpool 12023: 2531, 162 In Sunderland {2023- 1671. The Charlty ceased operations in Blackbum totally on 30 June 2023 following the decision of Islington House not to renew thelr management a8reement. There continues to be hi8h demand for accommodation from the local authorltie5 in both Sunderland and Blackpool resulting in occupancy levels in both areas. Partnershlp worklng . Durlng the year we continued to work closely with our local authorltles and other providers in Blackpool, and Sunderland. Hostel Developments - In agreement with Blackpool Council, we have purchased addltlonal accommodation to enable us to expand Elm Hou* and provide an addltlonal 18 beds, includlng disabled fa¢llltles and additlonal recreation facilities for our resldents. Work commenced In April 2024 and is experted to be completed in early 2025. See Note 30 for further details.
HOMELESS AcfioN Trustee< Annual Report ICantlNedl For the year ended 30 May 2024 Resldents Support - During the year we have continued to develop our support provision for our residents, worklng closely with all our residents to enable them to obtain employment, where appropriate, and to live independently. We have introduced classes in Maths, English, IT skllls, bud8etin8 and life Skills, alongside recreational activities includlnB gym, boxin8, walking and handicrafts. Thls work has been supported by the grant fundlng from the Know Your Neighbourhood fund via the Community Foundation, for a 21 month period, awarded in in July 2023. The aim of the grant Is to reduce isolation, We are providing support through skllls workshops including finance, IT, Life Skills, 5POrts and lelsure, volunteering and job training including constructSon and hair and beauty. Flnandal revlew The ststements of financial activities are set out on page 10 of the financial statements. Consolidated income for the year was £2,990,50212023: £3,343,849), and consolldated expenditure for the year was £2,775,13812023: £3.027,1071. The overall con501idated surplus for the year was £215,36412023: surplus of £316,742). The surplus on unrestrlcted funds was £199,74412023: £320,635), a decrease of £120,891. The decrease was as a result of lost contrlbutlon from the Blackbum h05tel and costs incurred in the legal actlon referred to below. Inflationary pressures are largely recovered in Increased rents and service charges ReseThes/Reserves pollcy Total reserves as at 30 May 2024 are £3,311,756 (2023: £3,096,392}, of which £3,288,421 {2023: £3,088,677) are held in general unrestricted reserves and £23,33512023." £7,715) are held in restrirted reserves. Withln the unrestrlcted reserves are designated funds totslling £192,286 (2023: £142.0261. See note 24 for further details. Reserves are defined as unrestricted funds that are freely available to Spend on charitable purposes. Resetves should be held to service an unexperted need forfunds, coverin8 unforeseen day-to-day operational costs. a shortfall in Income or to fulfil our obligatlons. Our reserves poll¢y is designed to reflect the underlying risks faclng the charity and to ensure that we have appropriate level of reserves to safeguard our operations and servlces to homeless people, in particular the opening and inltlal operatin8 of new buildlngs. Accordingly, we aim as far as reasonably prdcticable, to malntain reserve funds of up to six months operational running Costs. This policy Is reviewed annually. Based on the general reserves of £0.864 million {net of funds represented by property and associated borrowing and designated funds), 3.5 months reserves are Sn place. The Trustees consider the level of reserves to be sufficient at the moment but contlnue to review and monitor this. Goln8 concern Following a review of the financial positlon at the date of signing these accounts and projertions for the following 12 months the Trustees conslder that the charity is a going concern. Trading subsldlary The charltvs wholly owned subsidiary, SHOP2023 CIC. ceased operatlng Its charity shop in March 2020 as a result of the Covld-19 pandemic, and the lease which ended in August 2021 was not renewed. The Trustees are in the process of applyin8 to Companies House to have the subsldiary company dlssolved.
HOMELESS AcfioN Trustees, Annual Report ICoThtlwedl For the year ended 30 May 2024 Strurture governance. and management Governing document The charity was incorporated in May 1997. Homeless Action is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 7 May 1997, as amended by special resolutions dated 4 September 1997. 4January 2000. 5 January 2012, and Iljune 2021. Governance Introduction On 20 March 2020. the Charity Commisslon opened a statutory inquiry into the affairs ofthe charlty and on 13 January 2023-published its findlngs. The report can be found on the Charty Commission webslte. As a result of thi5 the Charity commenced legal proceedings against Lee Dribben the former CEO of the Charlty. and his son Ashley Dribben, a former Trustee of the Charity. These matter5 are on-80ing. In accordan with Articles 31 & 32 of the CoMpanS Articles of Association Mrs Lisa Edwards, and Mr Allan Oldfield resigned as Directors in February 2024 and were unanlmously reletted for a further term of office. Appolntment of trustees Other than In the exceptional Circumstances outlined in the Charity Commlssion Report, when new Trustees are requlred. positions will be advertised locally, and a formal selertion proce55 will take place. This will also involve the potential new trusteels) vi51ting local hostels and flats and also attending a trustee meeting to gain an appreciation of the workings of the charity. Trustee induction and training Trustee induction involves visits to see the premi5e5 and to meet the management and stsff teams. together with time spent with the Chief Executive and Senior Managers to better and more fully understand the activities of the charity. Related parties In addrtion to the trustees who seNed during the year, theTrustees consider the following individuals and organisations to be related parties for the purposes of disclosure of related party transartions: , Mrs W Swift and SHOP2023 CIC. Details of related party transactions requlred to be disclosed In accordan with the relevant leglslation and guldance can be found in Note 23 on Page 26. Fundralsing standards The charlty does not carry out signrficant fundraising activities. Reference and admlnlstrative details Reference and admlnlstratlve detalls are shown in the schedule of members of the board and professional advisers on page l of the financlal statements. Dlrectors and Trustees The directors of the charitable company (the charity) are its trustee5 forthe purpose of charity13w and throuEhout this report are collectively referred to as the trustees. The trustees who served the company during the period of the report were as follows".
HOMELESS AcfioN Trustees, Annual Report Icontinuedl For the year ended 30 May 2024 Key management personnel: Trustees Chair: Mrs L Edwards Dr M O'Donnell MrA OldrId Mr S Robinson Mrs E Warren Key management personnel: Prfnclpal staff Chief Executlve Offlcer: Mrs W Swift Trustees, responsib116tles The trustees (who are also directors of Homeless Action for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in actordance wlth applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accountin8 Practice). Company law requlres the trustees to prepare finanaal statements for each financial year which give a true and fair vlew of the state of the affairs of the charitable company and the group and of the incoming resources and application of resources, includlng the income and expenditure, of the charitable group forthat perlod. In preparln8 these financlal statements, the trustees are required to.. selert sultable accounting policies and then apply them con515tently,' observe the methods and principles in the Charities SORP; make judgements and estlmates that are reasonable and prudent," state whether applicable UK accounting standards have been followed, subJert to any material departure dlsclosed and explained in the financial statements," and prepare the financial statements on the goin8 concern basis unle55 It is inappropriate to assume that the charitable company wlll continue in business. The trustees are responsible for keeplng proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financlal ststements comply with the CompaniesAct 2006. They are also responsible for safeguarding the assets of the charitable tompany and the group and hence for takin8 reasonable steps for the prevention and detectlon of fraud and other irregularitles. Insofar as the current trustees are aware, and subject to the flndlngs of the Charity Commisslon inve5ti8ation which commenced on 20 March 2020 into events and transactions durin8 this and previou5 financial years: there is no relevant audlt infomation of which the charitable company's auditors Is unaware: and the trustees have taken all steps they ought to have taken to make themselves aware of any relevant audlt information and to establish that the audltor Is aware of that information. Approved by the Board on and signed on its behalf by: Mrs L Edwards- thalr Trustee
HOMELESS ACTION Independent Auditorfs Report to the Member5 of Homeless Action For the year ended 30 May 2024 Oplnlon We have audited the financial statements of Homeless Actlon for the year ended 30 May 2024 which comprise the Group Statement of Financial Activltles. the Group and Parent Company Ststement of Financial Posltlon. the Cash Flow ststement and the Notes to the Financial Statements, indudin8 a Summary of Significant Accounting Pollcies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accounting Practlcel. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Iunlted Kin8dom Generally Accepted Actounting Prartlcel. In our opinion the financial statements: give a true and falr view of the state of the group's and the charitsble companvs affairs as at 30 May 2024 and of Its incomin8 resources and application of resources, includlng Its in¢ome and expenditure, for the year then ended; have been properly prepared in accordance with Unlted Kin8dom Generally Accepted Accounting Prartice; and have been prepared in accordance with the requlrements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with appllcable law and International Standards on Audltlng (UK) (ISAS {UK)). Our responsibilrties under those standards are further described in the Auditorfs responslbllltles for the audit of the financial ststements section of our report. We are Independent of the group and charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evidence we have obtained is sufflcient and approprlate to provide a basis for our opinion. Concluslons relatln8 to 8olng concern In auditing the financial statements, we have concluded that the Trustees, use of the going concem basls of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed. we have not identrfied any materSal uncertaintles relatlngto events or conditions that, indivldually or collectively. may cast significant doubt on the company's abillty to contlnue as a going conrn for a period of at least twelve months from when the financial statements are authorlsed for issue. Our responslbllltles and the responsibilities of the Trustees with respect to goln8 concern are described in the relevant sections of thls report.
HOMELESS AcfioN Independent Audltorfs Report to the Members of Homeless Actlon IContrnued] For the year ended 30 May 2024 Other infornvtlon The other information comprlses the information induded In the annual report otherthan the financial statements and our auditor's report thereon. The Trustees are responsible for the other Infomiation contained within the annual report. Our oplnion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated In our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other Infomiation and. in dolng so. consider whether the other information is materially inconsistent wlth the financial statements or our knowledge obtained in the course of the audlt, or otherwise appears to be materially misstated. If we Identify such material Inconsistencies or apparent material misstatements, we are required to detemlne whether thls glves rlse to a material misstatement In the financlal statements themselves. If, based on the work we have performed, we conclude that there Is a material misststement of this other infom)ation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Art 2qK)6 In our opinion, based on the work undertaken in the course of the audit: the information given In the Trustees, Report for the financial year for which the financial statements are prepared Is conslstent with the financial statements,. and the Trustees, Report has been prepared In accordance wlth appllcable legal requirement5. Matters on whl¢h we are required to report by eXptIon In the light of the knowledge and understanding of the company and its environment obtained In the course of the audit, we have not Identlfied material misstatements In the Trustees, Report. We have nothin8 to report In respert of the following matters where the Companles Act 2006 requires us to report to you if, in our oplnlon: adequate accountlng records have not been kept, or returns adequate for our audit have not been recelved from branches not vislted by us. or the group financial statements are not In agreement with the accountin8 records and returns; or certain disclosures of Trustees, remuneration specified by law are not made; or we have not received all the information and explanations we requlre for our audit: or the Trustees were not entitled to prepare the flnancial statements in accordance with the small companies, re8ime and take advantage of the small companies, exemptions in preparing the Trustees. Report and from the requirement to prepare a Strategic Report.
HOMELESS AcfioN Independent Audltorfs Report to the Members of Homeless Artion [ContirtuEdl For the year ended 30 May 2024 Responsibilities of Trustees As explained more fully in the Trustees, responsibilrties statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such Intemal control as the diredors determlne is necessary to enable the preparatlon of financial ststements that are free from material mlsstatement, whether due to fraud or error. In preparlng the financlal statements, the Trustees are responsible for assessing the company's ability to continue as a golng concern, disclosin& as applicable. matters related to going concern and usin8 the going concern basis of accountin8 unles5 the Trustees either Intend to liquidate the company or to cease operations, or have no reallstlc alternative but to do so. Audltoes responslbllltles for the audlt otthe financial statements Our objectives are to obtsin reasonable assurance about whether the financial ststements as a whole are free from rnaterlal mlsstatement, whether due to fraud or error. and to issue an Auditor's Report that Includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detert a material mlsstatement when it exists. Misstatements can arise from fraud or error and are consldered material if, individually or In the ag8regate. theycould reasonably be expected to influence the economlc decisions of users tsken on the basls of these financial statements. Irregularitles, including fraud. are instances of non<ompliance with laws and re8ulatlon5. We design procedures in line with our responsibilltles. outlined above. to detert material misstatements in respect of irregularities, Including fraud. The extent to which our procedures are capable of detecting Irregularities, including fraud, is detailed below. Extent to whlch the audit was Condered capable of detertlng Irregularities. Includln8 fraud We Identify and assess the risks of materlal mls5tatement of the financial statements. whether due to fraud or error. and then design and perform audit procedures responsive to those risks, includlng obtaining audtt evldence that Is sufficient and appropriate to provlde a basis for our opinion. Identlfying and assesslng potentlal rfsks related to irre8ularities In identlfylng and assessing risks of material mlsstatement In respert of irregularltles, includlng fraud and non- compllance with laws and regulations, we considered the followin8- the nature of the sector. control environment and busine55 performance; the organisation's own assessment of the risks that Irregularities may occur elther as a result of fraud or error; the results of our enquiries of management and member5 of the Board of Twstees of their own identification and assessment of the risks of Irregulartties; any matters we identlfied having obtained and reviewed the organisatlon's documentation of their pollcies and procedures relating to: identifying, evaluatlng and complylng wlth laws and regulations and whether they were aware of any Instances of non-compllance; detectlng and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud: the Intemal controls established to mitlgate rlsks of fraud or non-compllance wlth laws and regulations; and the matters dlscussed among the audit engagement team regardln8 how and where fraud might occur in the financlal statements and any potential indicators of fraud.
HOMELESS ACTION Independent Audltorfs Report to the Members of Homeless Action {Ctrttkn1j For the year ended 30 May 2024 As a result of these procedures. we considered the opportunrties and incentlves that may exist within the company for fraud and identified the greatest potential for fraud in the following area: The estlmatlon of the houslng benefrt accrual. In common wlth all audits under ISAS (UKI, we are also required to perform specific procedures to respond to the risk of management oveThide. We also obtained an understanding of the IÈEal and regulatory framework that the organisation operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial ststements. The key laws and regulations we considered in this context included the House in Multiple Occupation regulations, and the Selective Licensing schemes. In addition, we considered provisions of other law5 and regulations that do not have a direct effert on the financial statements but compliance with which may be fundamental to the company's abllity to operate or to avoid a material penalty. These Included Data Protertion Regulations. A further description of our responsibllltles for the audlt of the financlal 5tstements is located on the Flnancial Report Council's webslte at: www.frc.or .uk auditorsres onsibilities. Thls description forms part of our Audltor's Report. Use of our Report This Report is made solely to the tharitable compan5 members, as a boity. In accordance with Chapter 3 of Part 16 of the Companles Art 2006. Our audlt work has been undertaken so that we might state to the charltable companvs members those matters we are required to state to them In an Auditorfs Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charttable company and the charitable companVs members as a body, for our audit work. for this Report. or for the opinions we have formed. Jamielee Johnston (Senior Ststutory Auditor) For and on behalF of Mitchell Charlesworth (Audit) Umited Chartered Accountants and StatutoryAudltors 3rd Floor 44 Peter Street Manchester M2 56P 12 December 2024
HOMELESS AcfioN Consolidated Statement of Flnanclal Artivities (Includi Consolidated Income and Expendlture kcount) For the year ended 30 May 2024 Unrestrlrted Total Funds Notes Restrfcted Unrestrirted Total Funds Restrlcted Funds 2023 Funds Funds 2024 Funds (Restatedl (Restated) Income Donations and legacies 141.279 3,713 144,992 42,650 5.813 48.463 Income from charitable activities: Operatlon of accommodatlon and café 2,808,793 2.808,793 3,281,113 3,281,113 Income from other trading activities Commercial trading operation Investment income- bank Interest Rental Income 27,385 9,332 27.385 9.332 9,713 4,560 9,713 4,560 Total Incomlng resources 141,279 2,849,223 2,990,502 42.650 3,301,199 3,343,849 Expendlture Cost of raising fvnds: Commerclal trading operatlon Expenditure on tharitable activltles: Operation of accommodatlon and café {125,6591 {2,649,479} 12,775.138) (46.5431 12,980,564) 13,027,107) Total expenditure {125.659} 12.649,479) (2,775,138) 146,543) {2.980.5641 (3,027,107) Transfers Net Incomlng resources for the year 15,620 199,744 215,364 {3,893} 320,635 316,742 Total funds brought forward 7,715 3,088,677 3,096,392 11,608 2,768,042 2,779.650 Total funds carrled forward 23,335 3,288,421 3,311,756 7.715 3,088,677 3,096,392 The Statement of Financial Activities Includes all 8ains and losses in the year and therefore a Statement of Total Recognlsed Gains and Losses has not been prepared. The notes on pages 13 to 31 form part of these financlal statements 101 Page
HOMELESS AcfioN Consolidated Balance Sheet As at 30 May 2024 Group 2023 (Restated) Charlty 2023 {Restated) Notes Group 2024 Charity 2024 Flxed assets Tangible assets Investments 17 18 2,528,720 2.448.142 2,528,720 2,448,142 Total fixed assets 2.528.720 2,448,142 2.528.721 2.448.143 Current assets Debtors Cash at bank and in hand 19 300,456 972,502 408,659 756,269 300,456 971,129 408,659 754.896 Total current assets 1.272,958 1,164.928 1,271,585 1,163,555 Creditors: Amounts falling due within one year 20 {209,426} {220.201) 1208,3461 (219,1211 Net current assets 1,063,532 944,727 1,063,239 944,434 Total assets less current liabilltles 3,592,252 3.392.869 3,591,960 3,392,577 Creditors.. Amounts falllng due after more than one year 21 (280,4961 1296,4771 {280,496) 1296,477) Net assets 3,311,756 3.096.392 3,311,464 3,096.ILM) The funds of the charlty Re5tritted income funds Unrestricted income funds 25 24 23.335 3.288,421 7.715 3,088,677 23.335 3.288,129 7.715 3.088.385 Total funds 3,311.756 3,096,392 3,311,464 3,096,11)0 For the year ended 30 May 2024 the group was entitled to exemption from audit under section 477 of the Companles Act 2006 relating to small companies but a5 this company is a charity, it is subject to audit under the Charitles Act 2011. The members have not required the company to obtain an audit in accordance with sertlon 476 of the Companles Act 2006. The directors acknowledge their responsibility for cornplying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provrsions applicable to companie5 subject to the small companies. regime. The finandal statements were appnNed bythe Board of Tru5tee5 on behalf by: 024 and are slgned on thelr Mrs L Edward5 Chair of Trustees Charity Number: 1063208 Company Number: 3366712 The notes on pages 13 to 31 form part of these flnanclal statements 111 Pa8e
HOMELESS ACTION Statement of Cash Flows For the year ended 30 May 2024 Notes Group 2024 Group 2023 Charity 2024 Charlty 2023 Cash generated from/lused In) operating activities 28 340,586 170,050 340.586 170,050 Cash flow from Investlng activities Interest Income Purchase of tangible fixed assets 27,385 (136,505) 9,713 1179,469} 27.385 {136,5051 9,713 (179,4691 Cash flow from Investlng a¢tlvlties (109,1201 1169,756) 1109,1201 1169.756) Cash flow from financlng actlvltles Repayments of loans 115,2331 117,3381 115,2331 (17,3381 Cash used in finan¢lng artlvttles {15,2331 (17,3381 {15,233} 117,338) Decrease In cash and cash equlvalents In the year 216,233 (17,044 216,233 (17.044) Cash and cash equivalents at the beglnnlng of the year 756,269 773,313 754,896 771,940 Total cash and cash equivalents at the end of the year 972,502 756,269 971.129 754,896 12 | P3ge
HOMELESS AcfioN Notes to the Financial Statements For the year ended 30 May 2024 Company informatlon Homeless Action is a private company Ilmlted by guarantee, domlciled and incorporated in England and Wales. The registered office 15 81 Abingdon Street, Blackpool. Lanca5hire, FYI IPP. Accountlng policies The principal accounting polities adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follo.. (a) Basis of preparation The financial statements have been prepared in accordance with Accountln8 and Reporting by Charities: Statement of Recommended Practlce appllcable to charities preparlng their accounts in accordance with Financlal Reportln8 Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 2019) - (Charities SORP {FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and the Companie5 Art 2006. The financial statements are prepared In sterlin& which Is the funrtlonal currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest £. Homeless Action meets the deflnltlon of a public benefit entlty under FR5102. Assets and liabilities are inltlally recognlsed at historical cost or transaction value unless otherwise stated in the relevant Accountlng Pollcy note{sl. (bl Group financlal statements The financial statements consolidate the results of the charity and Its wholly owned subsidiary Shop2023 CIC on a line by line basis. A separate statement of financial activities and Income and ExpenditureAccount for the charity has not been presented because the charity has taken advantage of the exemption afforded by Section 408 of the Companies Act 2C(16. Going Concern At the time of approving the financial ststements the Trustees have a reasonable expertation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus. the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. Funds structure General funds are unrestricted funds, whlch are avallable for use at the dlscretion of the Trustees in furtherance of the general objectives of the charity. Restrirted funds are funds Subject to specific restrictive condltion5 imposed by the donor or by the purpose of the contract / monies received. The purpose and use of restricted funds Is set out in note 24 to the financial statements. Deslgnated funds are funds whlch have been allocated or designated for specific purposes by the charlty Out of unrestrlcted funds.
HOMELESS AcfioN Notes to the Financlal Statements For the year ended 30 May 2024 Account18 polkles Icontlnyedj Income re¢ognltlon Income 15 recognlsed when the charity has entitlement to the funds, any performance conditions attached to the itemlsl of Income have been met, it Is probable that the income will be received, and the amount can be measured reliably. Income from donations and grants that provide core fundin8 or are of a general nature Ss reco8nised where there is entltlement, certalnty of recelpt and the amount can be measured wlth sufficient reliability. Income from government and other grants, whether'capital, grants or'revenue, grants,15 recognised when the charity has entitlement to the funds, any performance condltions attached to the grants have been met, It Is probable that the income will be recefved, and the amount can be measured reliably and Is not deferred. Grants are deferred to future periods only when thls Is 5pecifled by the funder or other preconditions of the fund are not yet met. For legacies, entltlement is taken as the earller of the date on which elther: the charty is aware that probate has been granted, the estate has been finalised and notlfication has been made by the executorlsl to the Trust that a distrlbutlon will be made, or when a distributlon is received from the estate. Receipt of a legacy, in whole or in part, 15 only considered probable when the amount can be measured reliably, and the charlty has been notified of the executorfs intentlon to make a distributlon. Where legacies have been notified to the charity, or the charlty Is aware of the granting of probate. and the criterla for Income recognition have not been met. then the legacy is a treated as a contlngent asset and dlsclosed if materlal. Investment income Is recognised on a receivable basis. In Servlce agreements and management agreements The charity has servlce agreements In place with other simllar organlsatlons. The Income from these agreements Is shown on a gross basis with expendlture included in Expenditure on Charitable Attivities. The charity has management agreements in place with Falcon Housing A550ciation CICto managethe provision of accommodation for the homeless in propertles in Sunderland. Falcon is the leaseholder of these properties, The terrn5 of the agreements result in the charity recelvlng income from Falcon equal to the amounts that Falcon receive as houslng benefit from the council. This income Is included In Income from Charitable Activities. Expenditure inturred in providing the service requlred under the temis of the agreements is Included in Expenditure on Charitable Activities. 141 Page
HOMELESS ACTION Notes to the Financlal Statements For the year ended 30 May 2024 Accounting policies IContlnued] Expendlture Expenditure is recognised once there is a legal or construrtive obligation to make a payment to a third party, it is probable that settlement will be required. and the amount of the obligation can be me35ured reliably. Expenditure is classified under the following activity headings.. Cost5 of raising funds are the direct and indirett cost5 of raising fund5 for charitable purposes. including applying for grants. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to Such activities and those costs of an indirert nature necessary to support them. Support costs Include costs of the preparation and examinatlon of the statutory financial statements. the costs of Trustee meetings and the cost of any legal advice to Trustees on governance or constitutional matters. Other expenditure represents those items not falling into any other heading. Flxed assets Individual flxed assets Costing £2,000 or more are Inltially corded at cost, Depreciation Is provided on all tangible fixed assets at the rates listed below so as to write off the cost or valuatlon, less any estimated residual value. over their expected useful economic lrfe: Freehold land and buildings Plant and machinery Office equipment Motor vehicles 2% per annum on cost IO% perannum on cost 33.3% per annum on cost 16.7% perannum on cost Investments Fixed asset inve5tment5 are included at market value at the Balance Sheet date. Realised gains and1055e5 on investments are calculated a5 the difference between sales proceeds. and their market value at the start of the year, or their subsequent cost. and are charged or credited to the Statement of Financial Activities in the period of di5P05al. Unrealised gains and losses represent the movement in market value5 during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. (i) Operatlng leases Rentals payable under operating leases are charged in the Statement of Financial Actlvltles on a straight-line basis over the lease term. Pensions The charity operates an auto enrolment defined contributlon scheme for all eli8ible employees in line with the current leglslation. 151 Page
HOMELESS AcfioN Notes to the Financial Statements For the year ended 30 May 2024 A¢countlng policies IContlnuod] Debtors Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepald after taking any dlscount due. Im) Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments. Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligatlon resultingfrom a past event that wlll probably result in a transfer of funds to a third party at the amount due to settle the obligation and can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due. Financial Instruments The charity only has financial assets and liabilities of a kind that qualify a5 basic financial instruments. Basic financial instruments are initially recognlsed at transartion value and subsequently measured at their settlement value. Legal status of the charlty The charity is a prlvate company limited by guarantee and consequently does not have share capital. Each of the members Is Ilable to contribute an amount not exceeding £10 towards the assets of the charity In the event of Ilquidation. The numberof members atthe year*nd was six {2023: seven). Judgements and key sources of estlmatlon uncertalnty In the application of the chariws accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carryin8 amount of assets and liabilities that are not readily apparent from other sources. The estimate5 and associated a55umptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmate5 and underlying assumption5 are revlewed on an ongoing basis. Revi5ion5 to accounting estimates are recogni5ed in the period in whlch the estimate Is revised where the revision afferts only that period, or in the period of the revision and future periods where the revision affects both eurrent and future periods. 161 Page
HOMELESS AcfioN Notes to the Flnanclal Statements For the year ended 30 May 2024 Grants. donatlons, and legaaes Restrlrted Unrestricted Total Funds Restrlcted Unrestrkted Totsl Funds Fund5 Funds 2024 Funds Funds 2023 Donation5 and legacies Appea15 and donations Grants 2,713 2,713 142,279 813 813 47,650 141.279 42,650 Total per statement of funds 141,279 3.713 144.992 42,650 5,813 48,463 The Income from 8rants, donations and legacies was £144,992 {2023: £48,463) of whlch £3,713 was unrestrfrted {2023: £5,813) and £141,279 restrirted {2023: £42,650). Incomin8 resources from charltable artivitles Unrestrlrted Total Funds Restricted Unrestrlcted Tolal Funds Restrlcted Funds 2023 Funds Funds 2024 Funds (Restated) (Restated) Charltable artlvltles Housing benefit - h05tels and flats Income from hostels and flat5 Residents, contributions - hostels and flats Emergency Beds Scheme Community Café & Hub takings Other Income 2.508,003 2,508.003 3,009.446 3.009,446 158.539 35.295 87,644 19.312 158.539 35,295 87,644 19,312 150,058 35.043 64,445 22,121 150,058 35.043 64,445 22,121 Total Income from ¢harTtable activftles 2,808.793 2,808.793 3,281.113 3,281,113 171 Page
HOMELESS AcfioN Notes to the Flnancial Ststements For the year ended 30 May 2024 Income eamed from commerclal tradln8 activities The wholly owned trading subsidiary Shop2023 CIC (Company Number: 08044728, re8iStered office: 81 Abingdon Street, Blackpool, Lancashire. FYI IPP) previously operated a charity shop providlng clothlng and furniture to those in need and to raise funds for Homeless Artion. Thls ¢10sed in March 2020. The summary financial results of the subsidiary were: 2024 2023 Shop takings Grant income Cost of sales and administration costs Operating profft The assets and liabilltles of the subsidlary company were: Current assets Creditors: amounts falling due within one year 1.373 (1,081) Net assets 292 Aggregate share capltal and reserves 292 Investment Income Restricted Unrestrfrted Total Funds Funds Funds 2024 Restricted Unrestricted T¢)tal Fund5 Funds Funds 2023 Bank interest 27.385 27.385 9,713 9,713 Total investment Income 27,385 27,385 9,713 9,713 181Page
HOMELESS AcfioN Notes to the Flnan¢ial Statements For the year ended 30 May 2024 Expendlture on charltable activities- Current year Community Café& Hub Accom Total Fund$ Provislon 2024 Wages and Salaries costs Staffing costs Premises costs Service charges - Blackburn Hostels Office costs Food costs Other costs Laundry and cleaning costs Motor and travel costs Legal Costs Depreciation Governance costs Support costs 64.857 6,634 10,640 1.039.335 13,485 916,702 34,390 14,413 108.542 9.678 10,645 14,294 17.507 53.503 8,053 394,435 1.104,192 20,119 927.342 34,390 15,305 160.486 10,780 14.732 14,294 17,507 53,503 8,053 394,435 892 51.944 1,102 4,087 Total 140,156 2,634,982 2,775.138 Expendlture on charltable artlvities- Prlor year Communlty Café & Hub A¢com Total Funds Provision 2023 Wages and salaries Costs Staffing costs Premises costs Service charge5 - Blackburn Hostels Office costs Food costs Other cost5 Laundry and cleaning costs Motor and travel costs Depreciation Governance costs Support costs 52,643 iio 10.347 1,053,657 9,168 885,679 418,386 17,297 86,208 10,132 10.164 16.209 49,168 7,560 352.267 1.106,300 9.278 896,026 418,386 17.748 125.483 14,271 14.411 16.209 49,168 7,560 352,267 451 39.275 4,139 4,247 Total 111,212 2,915,895 3,027,107 Expendlture on charitable actlvities was £2.775,138 (2023: £3,027,107) of whlch £2,649,479 was unre5trlrted 12023: £2,980,584> and £125,659 restrlcted (2023., £46,543). 191 Page
HOMELESS ACTION Notes to the Financlal Statements For the year ended 30 May 2024 io. Summary of analysis of expendlture and related income for charltable actlvltles - Current year Communlty Café & Hub Accom Provlslon Total Funds 2024 Costs (note 91 Grant support (note 51 140,156 2,634,982 1142,2791 2,775,138 1142,279} Net ¢ost- other income 140,156 2,492,703 2.632,859 Summary of analy$ls of expendlture and related Income for (harltable artlvltles- Prior year Communlty Café & Hub Accom Provlslon Total Funds 2023 Costs (note 91 Grant support Inote 5) 111,212 {12,4101 2.915.895 135,240) 3.027,107 (47,6501 Net cost- other Income 98,802 2,880,655 2,979,457 ii. Analysls of goveman¢e and support costs - Current year The charity allocates Its support costs as Shown in the tsble below and then further apportlons those costs to the charitable activities undertaken (see note 101. Unless stated otherwise. support costs are directly attrlbuted to the activity. General Support Governance Total 2024 Support cost Bank charges Wages and salaries costs Staffing costs Bad debt Premises costs Office costs Food costs Other costs Laundry and cleaning costs Motor and travel costs Accountancy costs Audit Costs Legal costs Trusteeg expenses Loan interest Depreclatlon 1,188 224,917 2,590 1,188 224.917 2,590 20.071 24,584 245 1,571 20,071 24,584 245 1,571 446 1.607 38,509 8,053 51,826 1,607 38,509 8,053 51,826 24,397 2,424 24.397 2,424 394,435 8,053 402,488 20IPage
HOMELESS AcfioN Notes to the Flnanclal Statements For the year ended 30 May 2024 ii. Analysls of zovernance and support costs- Prfor year The charty allocates Its support costs as shown In the table below and then further apportions those costs to the charitable activities undertaken {see note 10). Unless stated otherwise, support costs are directly attributed to the actlvlty. General Support Governance Total 2023 Support cost Bank charges Wages and salaries costs staffing c05tS Bad debt pmIseS costs Office costs Food costs Other costs Laundryand cleaning costs Motor and travel costs Accountancy costs Audit costs Legal costs Trustees, expense5 Loan interest Depreciation 746 217.469 4,822 {1.5501 22,501 25,038 185 9,882 319 754 30,925 746 217A69 4,822 11,550} 22,501 25,038 185 9,882 319 754 30,925 7,560 19,621 7,560 19,621 18.221 3,334 18,221 3,334 352,267 7,560 359.827 12. Trustee< remuneratlon and expenses The Trustees were not pald. and nor dld they receive any other benefits from employment with the charity or its subsidiary in the year {2023., £Nil}. Expenses totallin8 £Nil12023: Nil) were paid to no {2023: no} Trustees in the year to 30 May 2024 In respett of motor and travel costs. 211 Pa8e
HOMELESS AcfioN Notes to the Flnancial Ststements For the year ended 30 May 2024 Net Income/lexpendlture) 2024 2023 Net incomel{expenditure) is stated after charging: Operatin£ leases Management agreements Service charge5- Blackburn hostels Auditorfs remuneration - statutory audit Bank interest payable Depreciation 90,696 453,012 418.386 7,560 18,221 52,502 489.636 34,390 8.053 24.397 55,927 14. Anatysi$ of staff costs and remuneratlon of key management personnel 2024 2023 Wages and salarfes National Insurance contributions Employers, pension contributions 1,235,264 80,158 13,687 1,227,449 82,558 13,762 Totsl staff Costs 1,329,109 1,323,769 The average number of employees during the year was 26 {2023'. 28) wlth all employees, time Involved in providing either support to the governance of the charity or support 5eTvices to charitable activities. The charity considers its key management personnel comprise the Trustees and the Chief Executive OfFicer. The total employment benefits including employer's pension contributions of the key management personnel was £115,186 (2023: £115.7231. One employee 12023.. one) had employee benefits {excluding pension contributions) in exces5 of £60,000. This employee received remuneration in the banding £lOO.000 £IIO.WO12023: £100,000- £110,000}. During the year payments totalling £Nil {2023'. £Nill were made in respect of terrnination payments to employees/former employees. 15. Pension costs The charity operates a defined contribution scheme and contributlons are charged in the statement of financial artivities as they accrue. The employer's charge for the year for the charity was £13,687 (2023: £13,762). 16. Corporation tax The company Is a registered charity and Is. therefore, exempt from taxation. 221 Page
HOMELESS ACTION Notes to the Flnancial Statements For the year ended 30 May 2024 17. Tangible ftxed assets- Group Plant and Machinery includlng Motor Vehicles Freehold Interest in Assets In Fixture5, Land and course of Fittlngs and Buildiny construction Equipment Total Cost As at 30 May 2023 Additlons Disposals 2,453,005 151,970 109,106 18,187 87.595 27,399 2,710,757 136,505 (3,1001 13,1001 As at 30 May 2024 2,453,005 261,076 15,087 114.994 2,844,162 Depreciation As at 30 May 2023 Charge for the year Disposals 198.533 49,068 12,116 1,068 13,1001 51,966 5.791 262,615 55.927 13.1001 As at 30 May 2024 247,601 10,084 57.757 315,442 Net book value As at 30 May 2024 2,205,404 261,076 5,003 57,237 2,528,720 As at 30 May 2023 2,254,472 151,970 6,071 35,629 2,448,142 231 Page
HOMELESS AcfioN Notes to the Flnancial Statements For the year ended 30 May 2024 17. Tanglble lixed assets- Charlty Plant and Machinery in¢ludlnz Motor Vehicle5 Freehold Interest In Assets in Land and course ot Buildings construction Flxtures Fittlngs and Equipment Total Cost As at 30 May 2023 Addltlons Dlsposals 2,453,005 151,970 109,106 18,187 87,595 27,399 2,710,757 136.505 13,1001 13,ILX)I As at 30 May 2024 2,453,005 261,076 15.087 114,994 2,844,162 Depredation As at 30 May 2023 Charge for the year Disp05als 198.533 49,068 12,116 51,966 5.791 262.615 55.927 13.11i01 13.1001 As at 30 May 2024 247.601 10.084 57,757 315,442 Net book value As at 30 May 2024 2,205,404 261,076 5,003 57,237 2,528,720 As at 30 May 2023 2,254,472 151,970 6,071 35,629 2,448,142 18. Investments held as flxed assets The charlty holds one ordlnary share of £1 in Its wholly owned trading subsidiary company SHOP2023 CIC whlch Is Incorporated In England and Wales. The actlvltles and results of thi5 company are summarlsed in note 19. Debtors Group 2023 (Restated) Charity 2023 (Restated) Group 2024 Charlty 2024 Housing benefit receivable Trade debtor5 Prepayments, accrued income & other debtors 188,854 49,669 338,479 42,524 188,854 49.669 338.479 42,524 61.933 27,656 61,933 27.656 300.456 408,659 300,456 408,659 24 | Page
HOMELESS AcfioN Notes to the Flnancial Statements For the year ended 30 May 2024 Credltors: Amounts lallin8 due wfthln one year Group 2024 Group 2023 Charlty 2024 Charity 2023 Bank loans and overdrafts Amounts due to suppliers Taxation and national Insurance Other credltors Accruals and deferred income 16,565 42,013 24,991 135 125,722 15,817 38,756 21,669 3.219 140.740 16,565 42,013 24.991 135 124,642 15,817 38,756 21,669 3,219 139,660 209,426 220,201 208.346 219,121 Creditors: Amounts falling due within one year indudes the followin8 liabilities, on which security has been given by the charityand group: Group & Charlty 2024 Group & Charlty 2023 Bank loans 16,565 15,817 The bank loans are secured by a first legal charge over 81-83 Abingdon Street, 254 Hornby Road, 39 and 45 Bairstow Street, I Wolverton Avenue, 176/178 Watson Road, 10 Knowle Avenue, The Warehouse back Cocker Street, 23 Cocker Street and 264-266 Dlckson Road,. all of which are situated in Blackpool. There 15 further securlty provlded by a fixed and floating charge over the other assets of the charity. 21. Credltors: Amounts fallln8 due after more than one year Group& Charlty 2024 Group & Charlty 2023 Bank loans 280,496 296.477 Included in the creditors are thefollowing amounts due after more than fiveyears: Group & Charity 2024 Group & Charlty 2023 After more than five years by instalments 243,099 234,820 251 Page
HOMELESS AcfioN Notes to the Financial Statements For the year ended 30 May 2024 Operatln8 lease ¢ommltments and management atreements Asat30 May 2024the charity had outstandingcommitmentsforfuture mlnimum lease payments under non- cancellable operating lease5 and management a8reements as follow5.' Group & Charity 2024 fjroup & Charity 2023 Less than one year Within two to five years Over five years 506,252 1,958,556 4,210.997 490,934 1,958.556 4.700.636 Total 6,675,805 7,150,126 23. Related partles Controlllng entity The charity 15 controlled by the Trustees who are all dlrectors of the company. Related party transactions In the current year: During the year the Charity paid motor costs totallinE £21.234 (2023,. £21.3991 to Modern Classic Cars, an entity where Trustee Mr S Roblnson is a memberof key management. 261 Page
HOMELESS ACTION Notes to the Financial Statements For the year ended 30 May 2024 24. Analysts of charltable funds- Group - unrestrkted current year At 30 May 2023 (Restated) Incomlng Resource5 Resources Expended At 30 Mav 2024 Transfer5 General funds Designated Fund- Poplar House Designated Fund - Sunderland Flats Designated Fltnd - 1,000 Voices Designated Fund - Mini bus Designated Fund - Blackpool Hostels Designated Fund - Blackpool Flats 2,946,651 2.795,602 12.648.649) 2,531 3.096.135 25.983 8,910 34.893 48,748 2.531 15,CK)O 13.253 62.001 {2,5311 (8301 14,170 23,348 20,802 44,150 26.416 10,656 37,072 Totsl funds 3,088,677 2,849,223 12.649,4791 3,288,421 Analysls of Charltable fund5- Group unrestrlcted prlor year Ineomlnz At 30 May Resources 2022 {Restated) At 30 May 2023 Transfers (Restatedl Resour¢?s Expended General funds Designated Fund - Poplar House Designated Fund - Sunderland Flats Designated Fund- l.OOOVoices Designated Fund - Mini bus Designated Fund - Blackpool Hostels Designated Fund - Blackpool Flats 2,679,334 3,247,881 12.980,564) 2,946,651 18,315 7.668 25,983 36.446 2,531 5.000 12,302 48,748 2.531 15,000 iO,LM)O 23.348 23.348 26,416 26,416 Total funds 2,768.042 3,301,199 (2,980.5641 3.088,677 Analysls of ¢haritable funds - Charlty - unrestricted current year At 30 May 2023 Incoming (Restated) Resource5 Resources Expended At 30 May 2024 Transfers General funds 3.088,385 2,849,223 (2,649,479) 3,288,129 Totsl funds 3,088,385 2,849,223 12,649,479) 3,288.129 271 Page
HOMELESS AcfioN Notes to the Financlal Statements For the year ended 30 May 2024 2Q Anaty5i5 of charftable funds- Charlty - unrestrlcted prlor year Incomlng At 30 May Resources 2022 (Restated) At 30 May 2023 (Restated) Resources Expended Transfers General funds 2,767.750 3,301,199 (2,980.564) 3,088.385 Total funds 2,767,750 3.301,199 {2,980,564} 3,088.385 25. Anatysls of tharitable funds- Group At 31 May & charity- restrlcted- Current year 2023 Incomln8 Resources Resources Expended At 30 May 2024 Transfers Community Foundation Grant Know Your Neighbourhood Grant Skills for Care- Workforce Development 7,715 (1.3281 {122.831) 6.387 16,948 139.779 1.500 11,5001 Total funds 7,715 141,279 1125.659} 23.335 Name of fund Descrlptlon, nature, and purposes of the fund Community Foundatlon Grant Support throu8h the provision of skill workshops Including finances, IT. Lrfe skills. sports and leisure, volunteerin& and job tralnlng including hairdressing and building. Know Your Neighbourh¢)od Grant To offer Maths and English courses, computer skills. sports sessions and job training to isolated and vulnerable clients to help them to return to work and successfully live Independently. Skills for Care- Workforce development Support of staff training and development. Analysls of charltable funds- Group At 31 May Incomlng Resour & charity- restrlrted - prlor year 2022 Resources Expended At 30 May 2023 Transfers Community Foundation Grant The National Lottery Community Fund- The Homeless Action Communlty Café and Hub 30,240 122,525) 7,715 11,608 12.410 124,0181 Total funds 11.608 42,650 {46,543) 7,715 281 Page
HOMELESS AcfioN Notes to the Financlal Statements For the year ended 30 May 2024 26. Transfers Any surplus expenditure arlsing on any of the restrlrted funds Is met from general lunrestrictedl funds, Where applicable and where not prohibited under any terms specified by the donor. any restricted funds where It Is deemed that the associated actlvlty or purpose has ceased are likewise transferred to general funds at the discretion of the Trustees. 27. Net assets by fund - Group- Current year Restrirted Funds Unrestricted Funds Total Funds 2024 Tangible fixed assets Cash at bank and in hand Other net current a55ets I Iliabilitiesl Creditors of more than one year 23,335 2.505,385 972,502 91,031 1280,4961 2.528,720 972.502 91,031 (280,4961 Net assets 23.335 3,288,422 3,311,757 Net assets by fund - Group- Prlor year Restrlrted Funds Unrestrlrted Funds (Restatedl Total Funds 2023 IReststed Tanglble fixed asset5 Cash at bank and in hand Other net current assets I Illabilitiesl Creditors of more than one year 7,715 2.440,427 756,269 188,458 1296,4771 2,448,142 756,269 188,458 1296,4771 Net assets 7,715 3,088,677 3,096,392 Net assets by fund - Charlty- Current year Restrfcted Funds Unrestricted Funds Total Funds 2024 Tangible fixed assets Cash at bank and in hand Other net current assets I (liabilities) Creditors of more than one year 23,335 2,505,385 971,129 92,111 1280,4961 2,528.720 971,129 92,111 1280,4961 Net assets 23,335 3,288,129 3,311,464 291 Page
HOMELESS AcfioN Notes to the Flnancial Statements For the year ended 30 May 2024 27. Net assets by fund- Charlty- Prlor year Restrkted Funds Unrestricted Totsl Funds Funds (Restated) 2023 (Restated) Tanglble fixed assets Cash at bank and in hand Other net current assets/lllabllltles) Credltors of more than one year 7.715 2.440,428 754,896 189,538 1296,477) 2,448,143 754,896 189,538 {296.477) Net a$5ets 7,715 3.088,385 3,096,100 Re¢on¢lllation of net movement In funds to net cash flow from operatln8 activltles Group 2024 Group 2023 Charlty 2024 Charity 2023 Net movement in funds Add Depreciatlon Deduct Interest income shown In Investing activities Decrease/{Increasel in debtors (Decreasel/lncrease in creditors 215,364 55,927 316,742 52,502 215,364 55,927 316,742 52,502 {27,385) 108,203 111.5231 {9,713 1226,224} 36,743 127,385) 108.203 111,5231 19,713} {226,2241 36,743 Net Cash generated In/used by operatin8 actlvitles 340,586 170,050 340,586 170,050 29. Net debt reconciliatlon- Group- Current year 30 May 2023 Cash Ilows 30 Mav 2024 Cash Loans falling due within one year Loans falling due after one year 756,269 {15,817} {296,4771 216,233 {748} 15.981 972,502 116,565) {280,4961 Net debt 443,975 231,466 675.441 Net debt reconciliatlon - Group - Prlor year 30 May 2022 Cash flows 30 May 2023 Cash Loans falling due within one year Loans falling due after one year 773,313 132.709) (296,9231 {17,044} 16.892 446 756,269 {15,8171 (296,477) Net debt 443,681 294 443,975 301 Page
HOMELESS ACTION Notes to the Financial Statements For the year ended 30 May 2024 Net debt reconelllatlon contlnued - Charity - Current year 30 Mav 2023 Cash flows 30 May 2024 Cash Loans falling due within one year Loans falling due after one year 754,896 115.8171 (296,4771 216,233 1748) 15,981 971,129 {16.565) 1280.4961 Net debt 442,602 231,466 674,068 Net debt recon¢illation - Charity- Prior year 30 Mav 2022 Cash flows 30 May 2023 Cash Loans falling due withln one year Loans falllng due after one year 771,940 (32,7091 1296.9231 117,0441 16,892 446 754.896 115,8171 {296,477} Net debt 442,308 294 442,602 30. Commltments In Aprll 2024 after a tender prO$S the Charity entered into a contrart for the r&development of Derby Court, the property adjacent to Elm House. The contract value was £709,779 + VAT. In August 2024 the Charity was awarded a grant of £150.000 by the Garfield Weston Foundation of to support thls project. Prlor period adjustment 31. Changes to the balante sheet- Charfty and Group A5 prevlously As restated at reported Adjustment 30 May 2023 Current assets Debtors 350,558 58,101 408,659 The funds of the charity Unrestricted income funds 3,030,576 58,101 3,088,677 Chan£es to the profit and loss account As prevlously As restated at reported Adjustment 30 May 2023 Year ended 30 May 2023 Net incoming resources for the year 258,641 58,101 316,742 Notes to reeonclllation The adjustment relates to backdated increased housing benefit recelvable whlch was not agreed by Blackpool Council until after the 2023 accounts were approved and signed. 311 Page