TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING IALSO KNOVIN AS -STAri ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 *AAKLX6VQ' 2411212021 ANIES HOUSE A07 Company No. 03471122 (England and Wale$l RÈgisteTed Charity No. 1066948 TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAY COMPANY INFORMATION Dlrectors and Trustees MrA M McAdam Mrs S G RaW￿ngS Mrs M L Bawn Mrs P R Beaurn￿t Mrs A E Dokov Mr K Duncan-Baneriee Mrs S L Gudsell Mrs P A Heffernan MrCDHill Mr 8 D Keates Mr F Macaonghus Mrs J A Osmund-smth Mr C I Pelling-FuIf￿d Mrs S G Ra￿ings (Chairl (Treasurer) (appointed 2 September 2020) {ap￿inted 10 February 2021) lappointed 6 May 20201 lappointed 1 July 2020} laptK)inte¢J 10 February 2021) lappointèd 10 February 2021) lat4)ointed 10 February 2021) latwjnted 6 M3y 20201 Secretary Mr B D Keates Company Number 03471122 (England and Wales) Charity Number 1066948 RègistÈrÈd Offieè Meeting Point Hojse South Water Square Tefford Shropshire TF3 4HS Audltors James. Holyoak & Parker Limit& 1 KnvJhfs Court Archers Way Batuefiehy Enter￿￿e Park Shrawslxjry Shropshire SY1 3GA Soli¢itor5 FBC Manby B(Mdler Roulh Hc4Jse Hall Court Hall pa￿ Way Telford Shropshi TF3 4NJ TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS-STAY-I CONTENTS Page Trustees. Report 4- 11 AUdit0￿S Report 12-14 Statement of Finantial Activit￿$ 15 Balance Sheet 16 Not85 to the Accounts 17-25 TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS -STAf) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The trustèes who are also directors of the charity, present th*r report with the financial statements of the Charity for Ihe year ended 31 March 2021. The tnJstees have adopted the prowsions of the Charities SORP 2015 IFRS1021- Charity information Tellord Christian Coundl sup￿rted H(yJsry is a ￿lStered charity and private company limita by guarantee with no issued share capital, incorporated in England and Wales. The registered office is Meeting Prynl H(xJse, Swthwaler Square, Town Centre Teff¢yd. Shropshire, TF3 4HS_ The regtstered company number is 03471122 {England & Wales), and the registered charity number is 1066948. Truste•slDir•etors The directorslirustees. vtho held office during the year and up to the date of signature of the financkal slatements was as follows= Mr A M McAdam Mrs S G Ra￿ingS Mfs M L 8awn Mrs P R 8eaurnont Mrs K L Coley Mrs A E t)okov Mr K Duncan-Baneriee Mr J Flanagan Mrs S L Gudsell Mrs P A Heffeman Mr B J Harper MrCDHill Mr B D Keates Mr F Macaonghus Mrs J A Osmund-smrth Mr C I Pelling-Fulford hArs S G Rawlings (Chairl (Treasurer) (appointed 2 September 2020) lapwnted 10 February 20211 I￿$1yned 10 February 20211 lapwnted 6 May 20201 lapwnted 1 July 20201 (appoint￿ 1 July 2020. ￿Signed 26 October 20201 lappM)inted 10 Febnjary 20211 lapKMynted 10 Febwary 20211 I￿signed 6 May 2020) (appointed 10 Fetsfuary 2021) (appointed 6 May 2020) Obltcts of the Charlty. Prlneipal Aeti74ltiès and Organisation of Charltys worf( The objeclives of Telford Christian Council Supported Housng are: 81 the relief of poverty and the fvrtherance of educat*)n of young people. families. single parent families and their children who are homeless by reason of adverse circumstances and who are in need of help in acquirirrfj a settled way of lrfe by the provision of temwrary aCcomm¢yJatic￿. provision of support and advice, assistance in finding a suilatle longer temi place to live.. and bl to further the objects of Te&f￿d Christians Tts3ether (charity M. 1C669481 as the Trustees from time to time may decide. Telford Christian Councsl Supported Housing Mission Statement Our missKJn is -to changè the livés ofhomèltss young people-. Our v8lues are= Integrity we are profeSsic￿al. trUS￿Orthy. indusNe aTrJ have the utmost resFeCt for our clients. our supporters and eath other. Inspiralion - we seek to be inspirational to our dients and colleagues. and creative about our work. Passlon- we are passionate about making a ￿rffe￿I￿ to thè livès of ￿r dients. TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS-STAr) TRUSTEES. REPORT ICOIITINiIEDI FOR THE YEAR ENDED 31 MARCH 2021 Public benefit The charity has complied wlh th*"r duty in section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity CommissK)n. induding publi¢ benefit guKlan¢e. Ethos statement Stals involvemenl in the support of vulnerable and homeless young people arose as a direct result of adTron by the church community in Telford. Whilst Stay has grown and is gainin9 greater operational independence from Telford Christians Togethèr for business reas¢￿S, its Christkan values and ethos remain. and will be safeg¢Jarded into thè fU￿re. For Stay. this means.. All people are of equal worth Our primary role is to ènable people to rea¢h their full polenti818s human ￿"n9S as a gospèl imperative. This leads to an approach to uJr work that i8 based on.. al A non jLJdgemental approa¢h to people bl Equality of access to services c) Working in partnership with Ihose of any faith or none dl Seeking justice for those who are marginalised el Seeking a fair deal for all vulnerable and hoffleléss pewle A commitment to qu￿ltY in everything we do Achievement and performancè A message from the Chair ol Trustees. Andy McAdam What an tjnprecedenled year it has baen. The w(wkl has batued a global pandemic and is still feeling the impacts. Like many charities we have had to nav¢gate thiough thts challenging b.me bul thanks to brilliant teamwork and leadership Stsy has achieved so much and everyone should be incredibly Proud. Talking of leadership. we have welcomèd our new CEO. Terry Gee. sinc£ our ￿st Annual Report and have also recruited and expanded our Board of TnJstees to help further strengthen the work of St8y. Of course, none of Stay's work is possible Wrt￿￿1 Starfs staff. vdunteers. and 311 of the organisations we work with. For this. we the Board of Trustees and those whose lives you change are hugely grateful. Stay wouldn't be here today without you. The past year has seen some great achievements and highlights. For èxampje, at the the￿ht of the pandemic. we roached a very impressive milestone- wr 301h 8nniversary. albeit with a muled fanfare because of the situation and. we have develoF*d (NJr five-year strategy and set this cwjt in an accessible format for all to see and engage with. We have also launched new seNices and dovelq)e(I projects indtxling". Spècialist mentsl health for individuals receimng our s&rvices High Intensity Link Work supportiro indivNJuals whose tenancjes repeatedly fail. providing them with speciali51 care and support Ath'oned a seheme sperifi¢ally for individuals with No Recourse to Publi¢ Funds Re-modelled the Thrive Serwce in prepardtK)n for relaunch in April 2021 Positively re-eThJaged with key extemal partner5 and stakeholders Planned a new swal outcome measurèm8nt and data management system for Stay, as well as the wider sector We have also received accolades from across the counlry for our excellent work in helping local homeless people throughout the pandemic. But mosl importantly we have 5UPPOrted, changed. and improved in sorne way the lives of our clients, 8nd for this evewn8 at Stay should be inwnensely proud. I look forward to W￿Ing with you all lo contsnue (xjr great Progress over the coming year. TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS ￿TA￿l TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 A message from Stay CEO Terry Gee It is such a privilege to have joined Stay as CEO in January 2020. at such a PNOtal rnoment in the organisation's joumey and development. Little did I know what 2020 had in store,. who woukl have thought that the pandemi¢ would have shown us that, wherb the polilieal will is there, Rough Sleeping can bè elimynated. All the work our teams carry out is so S￿nIfican1 in preventing homelessness- from helping someone rough sleeping into emergency accommodation, through to supporting an indiviijual who might be struggling with the day-to-day triAls of lifè such as apjying for housing and benefits. To say l am honoured to lead Stay would be an underststement. COVID-19 eontinues to bè the storni that rumbles on, but as they say. èvery doud has a silver lining. Whilst the pandemic wreaked on communities natK)m¥ide. he￿ in Telford it did accelerate multi-agency working which is of great berbefit to the people we serve. Partnefs across Housing. Health. Swal Care. Ment81 Health, Addiction and the Third S8Ctor are working togèthèr morè than ever to collaborate arKI share inswJhts.. helpu)g av8ryone to maka infomied and evidence based decisions that benefit all. With an eye on the year ahead, we I￿￿( forward to 8nhan¢Ang the suprKxl we prowde to the residents of Telford and Wrekin. We wll be further emwding the asset-based and sc4utb)n focused approaches to our sUPPOrt services thr(xJgh training opp(Htunities and implernenting a new soryal outcorne moniloring and data cdlectK>n IT system across all aspects of Stals work. We are cot)wnitted lo provKling additional actiwties and support to our tenants,. delivering new projects that aim to reduce the press(Jre on ststutory services - with a particular focus ￿ those who are poorly served due to resource challenges across the $￿tern. We also look forward to the emerging Integrated ca￿ System that looks lo address health inequalities Ihat are often a precursor to issues ar￿n￿ homelessness. I hcpe you enjoy reading this report which dèmonstraies our activilies and impacts in what has been a very diffiujlt year. My thanks once again goes to everyone involved in making Stay such a wonderful organisation Stay Servlces - Overvlew Accommodation Stay has over 70 Ltnits of accommodats'￿. These are wedominately for young F￿e, with support provided through team of Intensive Housing Coaches that help vrilh setb.ng up home and tenancy. t￿￿geting, improving heatth and well- being and accessing speoalist support services. IndN#Yuals lend to reside in our accc¥nmodatKJn for around years And are supported to move ￿ into fully independent living when the time is right. Homeless Outreach As part of the Rough Sleeper T8sk Force p8rtnership wrth voluntary 8fKI slAtutory partners, Stay provides a 2417 on call outreach service to deliver detached streel work where we actNely seek individuals sleeping rough and 5LlPPOrt them Into emergency aGcomm(xl8lion. Floating Support As part ol Ihe Thrive Partnership with manIn￿3ce arml YfrACA Tejtord arKI WrÈkin, Stay leads on a Floating Support contracl where over 450 hours of support are pThided wlhin the community. Intensive Llnk Support SeNce As part of a Mental Health Alliance with vduntsry and slatutory partners. Stay delivers this semce lo reduce avoidable frequent user activity to NHS an¢J emergency s*Mc£s. It helps sUPPOrt a more effeGtive dis¢har9e from hospit81. so that individuals tecome more aclive and invdved in their communits.es to supwrt improved hearth. well-being and resilience. Mental Health Stay, togèthèr with Tefford Mind. delNer the 'Stay Mindfuf ￿016¢¢ where I￿lIVidUalS in ￿r accommodation have a￿8$$ to a 1-2-1 counselling and listening Serv7￿. This is open to all indNKluals act￿r￿j Stay semces who wish to wor1( through previous trauma lo support irnproved health and welkbeing. TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAr) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Stay servlces - status year to datè HOUSING Challenges of the past year". Extemal services have beèn drfficult to acr£ss due to the pandÈmic Tenants developed higher, and sometimes more complex. nee¢Js due lo lad( of aC￿sibIlIty across the $￿tern resulting in extra demand on our Intensive HoJsing Coaches 88cklog of repairs and mainlerwce due to thÈ pandemic restrictirtg access Successes of the last year. Out of 168 referrals all were supported to achieve the nght oulcornes which induded 43 that were housed. and the remaining referwls were directed to appropn.ate SUp￿rt Ihrtmjgh Thrive and other Housing Providers Funding obtained from local businesses and grants that SUPKh)rt our tenants Finding alternative ways of providing housing supw)ri sessions for tenants- wdeo Call. zc¥xn Plans for thé next 12 rnonths: New project working with Outreach and Link Worker5 - tHJihding capaeJty acxoss emergerw accommodation provision in the Borough, helping io reilu¢e the number of people placed in hotels 12 nèw seff-contained properti•s to be onboard at the end ol year c￿e Decent Home Standards projéct - swapping older properties for newer ones New partnerships to prov&de more move optx)rtunities on for Stay INTENSIVE OUTREACH- Ilntensive Link Work and Homelessness Outreach) Challenges of the past yèar AGcornmodation for those with twr rnental health often fails, rèsults.ng in rèstncted access to emer9ency accommodatron and inteirm hotel rooms Increased cost of wtal equipment lo support SLth as tents. sleeping bags and Ph￿eS which has impacteil St*s twdget unprecedented number of people have needed awnmodation and access to ortain services and key paperwork to prove their ri￿1 to rent has been challengirvJ Successes of the last year Stsy outreach has sUp￿￿teLl 350 peoKAe Stsy is a founding partner in the Rough Sleeper Task Force. a multi-agency approach to oddress the needs of the homeless which drives intdligence-led decision making_ M05t contact leil to Customers being accommodated or being verified as rough Slee￿rS Slay Link Workers established the Serv￿ across a number of Multi-agency tearns wilhin the PUNIC Se¢tor and svpported 31 people in the 6 months they wèrè ac)ve Stay SUPF)Orted entrenched rtyjgh sleeper dients who cwld access seNces due to their previous challenging behaviour. Our support to the individuals having long periods of slability resvlling in accomm￿allon and support becoming accessiwe Plans for the next 12 months Enhance thè Homeles5 Outrèach Service by one member of staff in order to pro￿de cover and build capacity Integrate with Stay Houwng Team on a¢¢ommodation for higher needs individuals to move lito Enhance the Intensive Link Worker team to better serve individuals who repeatedly. bul unnecessarily, present to h19￿c0St front Irne services THRIVE FLOATING SUPPORT Challengès of the past year.. Hawng lo adapt to new ways of working due to COVID-19 (such 8$ htxne working, not being able to ph￿l¢alty see cJieDfs in their homes or at drop in5}. Recruitment diallenges and r8tenbon has also had a major impact on cap8aty and morale within the team Extemal agencies not operating at full capa(ity so signF*)sting options were limited - Working Wlth a client base wth higher needs due to other agencies having extremely l¢mg waiting limes or simpty not being aVaila￿e Increased demand on Stay due to limited carrity at otsr external agencies Lack of housing stock localty Loss of Homes D¥ect websile so central wint lo find accomm(wJation WAlhin the area TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS-STAri TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDEO 31 MARCH 2021 Successes over the last 12 months= DraSI￿allY reduced waiting time for d￿nts to a￿esS the service Establishing good networks of communicatK)n wth èxternal agènciés Strengthening workiTh3 reL3tionships with the Thrive partne Somè really positsve outcomes for the clienls we have been Work￿￿ with such as preventw of evictions, fin8n¢i81 benefits for dients linduding bad(dated pay4xJtsl, seojring altemative accommodation for difficull to house Plans for the next 12 months- Fully slaff the team Embed a new IT system and uts'lising all of the data to help inform ewdenctrbased decision rnaking Maintain short waiting time for ¢l￿nts - To continue to provide a person cenired, lIe￿tsIe and h￿Isb.¢ approach with our dients Dèvelop peer learning opportunities for staff acr05S the Thrive partnership CENTRAL SERVICES Challenges of the past year. - Carrying out all aspect of the organisations adrnin function whilst working remolely was a huge challenge Recruitmènt has been difficult, whi<* is somèthing ￿1￿9 experienced by many organis8tions. This has impactèd the Slay teams who have worked eycepbonally hard to maintain a strong level of service to our clients. The passion and dedication of all ern￿oYeeS over the past year is a key rea50n for the succes5 of Stsy as an organisation and for the dients we house and SUFfKxI Successes of the last year: - We have had a besp)ke seven-week CPD tra￿ing course delivered whith has covered a w￿e variety of ongoing professional development topics such as equality and diversity. rnanaging conflid effectively and a¢lion [￿annIng - We have taken advantage of available fijnds from orant makiw trusts to support our work with some of the most vulnerable people in the area - We have had a bespoke seven-week CPD training course delivered which has covered a variety of ongoing professional development lopi(s sud) as equality and drversity. managing conflict effectsvèly and action I￿anning - We have taken advantage of availab￿ fvn¢Js from grant making tnjsts to support our work with some of the most vulnerable people in the area Plans for the next 12 months Support the development of Apwenlices within Stay Whal Our benefiaariès say. °Thanks for all the help 8nd support I have ré¢eived over the past year. I honestly don'l know what I wouks have done without it. My lrfe is so much better now tr￿ause of rt. and I will be forever grateful. I can't begin to imagine where I would be now if this seTrice wasn't available.. 'One thing I will take with me is something that was said to me on many occasions - 8vety(hing is resofvable. I now know that is true. hanks again for evetmhing." Ben is a 9￿3t example of the impact of St8Ys Ben was c￿ng out for help and norTn81 servi¢e5 were finding il impossible to work with him. BLrt with ￿Jr help. we able to suprK>rt his engagèment with alcohol support W0￿er$. the ment81 heatth teams and accommcNJation serV￿es. In addition to this. we helped him with police. the courts. probation services as wèll as ensuring Ihat he was fe(1 and given 1-2-1 encouwemenl. You can see a video about Ben's story here.. https.'IWtu.belCsaGOCr8m41 .1 really had a hard time during this COVID-19 pantjemic - have played a very irnpcfflant role in keeping me safe. You are my life changer. You supported an¢J helped in my asylum case: withrwl your sUp￿rt I w(xJld not have been able to remain in this couniry. I will not forget you and your help in my lifetime.. TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS "STAVI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Reserves Policy The Trustees have exarnined Ihe charl￿S requirements lor the reserves in the light of the main risk lo the organisation. It has established a policy wherèby the unrestricted funds not committed or invested in tangible fixed assets (that is those funds that are freely available) should ideally be at least six months and no more than ninè months expenditure. The actual free reserves of Slay at 31 March 2021 were £212.052 {2020." NIL}. In calculaling this amount, the Trustees have excluded from total funds the reStr￿ted income fvnds {£5,4421 and tangible fixed assèts less mortg8ge commitmenls1£376.3321. Six months unrestrictèd, recurrent expènditure to March 2021 was £542.750. The free reserves are therèfore equivalent to 10 weeks, spend. If we éo not exclude Ihe value of fixed asseis ¢X) the basis that the fre8h(Ad property could be easily and swiftly sold on the open market, this in¢rèases to 7 months. These reserves are held in case of a sudden dedine in income 8n¢J ensure that cc*nrnitments to providing services and conlraclu81 commitments to staff can be maile with some rA)nfidence. Investment policy and objectives Under the Memorandum arKI Artides of Assouats"on. the charity has the kY)wer to invest any money that is not immediately required for the furtherance of its objects in any way Ihe Trustees wish_ The Trttstees hav8 agreed. have regard to liouidity requirements. to 0￿rate a policy ol keepir¥J a working balancg in the current bank account along wth interest tearing deposit accounts. Princlple fundlng sourets and èxpÈndlture Income exceeded expenditure in the period by £98.146 {21J20'. £18.3721 The prinaple funding soutces are Supporting Pec* Irw))me of £453.710 (2020." £460.7331 artd Rental In{￿e of £818,04012020: £713,331). The rnain areas of expenditure are emF4oyrnenl costs of £545,27012020.. £434.9721 and premi$8s C￿Sts of £S70.530 12020.. £404.8301. Governing document The Charity is e￿ntrOlled by its goveming dttumenl. a deed of trust, and constitutes a limited company, limrted by guarantee. as delin&¢ by the Comp3ni8s Act 2006. Recruitment and appointment of new tw$tees The officers are appoinled by the Board folk)wing 8 monitored recruilmenl kYo¢ess. The Chalr of the Board Is appointed by the Board. Govèrnanee IAembers of the Board are TnJstees of the Charity. The number of Trustee5 should not be less than 8 and not more than 16. A Trustee shall be a natural person aged 16 years or older. and n¢)-on8 may be appointed a Trustèe if he or she would be disqualified frcxn being a Tnjstee. Mèmbership of the trustee body ￿he Board) is made up of Appoinled Trustees {no more than 74% of the total membership of the Board) ané TCT Nominated Trustees {no le55 than 26% of the tolal memb&rship of the Board). On appointment each Twsteè signs a code of conduct and comp￿te$ a register of interests. They are given an Induction Pack which includes the M8morandum and Artides of Ass(Kiation. Mission Statement, Standing Orders. Stay Scheme Profiles and leaflets, Organisatir￿al Structure, Business Plan and the mosl recenl Trustees Report and Accounts. Annual Review and Minutes. TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAri TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Organisational Strueturè At M8reh 2021 there were approximately 31 staff émktyd. Thè main schemes are all Ictated in ihe fdlowing areas of Telford, Shropshire. Morson House is in Oakengates. CHEC Homes is in Madeley, Be8trice Webb is in St. Georges an¢J there are various houses of rnulliple occupation aThJ resetllement ftats lo¢ated throu9hcwJt Telford. Trustees. liability As 8 company lirniteil by guarantee. Telfor(I Chrislran SuptMy18d Htxjsing Trustees will exercise reasonable skill and care in the govemance of the charity, taking re$5x)nsibility for any liabilities inujrred. Their personal liability is limited to £1 under the conditions of CoMpan￿S HoLtse requirements. providing they gov&m prudèntly and lawfully within the compan￿5 governing dwfflÈnl. Any breach of trust wll render the tnjstees jointly liable for that breach. Prlnclpal Staff of Telford Christian Council Supported Housing Mr Terry Gee- Chief Execub"ve Offiw (Appointed l January 2020) Mr Terry Fellows- Head of Resour￿5 Mrs Joan Collins- Finance Manager Ms Debbi Morris- 0￿ratIOnS Managèr Mr Paul Sansome- Outreach Co-ordinator Ms Kay Bennelt- Operalions Suppcrt Administralo Partners Stay works 8 number of partners in providing its service. These indude.. Borough of Telford & Wrekin West Mer(?a Probation Service 8romford Housing Grojp Wrekin H￿Sing TnJst • Wellington and District YMCA Maninplace Limited Salvation Army KIP Proiecl • Tèlford Mind Telford Citizens Adwce Bureau Tèlford Crisis Support -10- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING IALSO KNOWN AS -STAri TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Statement of trustees. responsibilities The trusteès Iwho are also directors of Telford Christian C(MJrril &1￿m)rted Hcrtjsing for Ihe purposes of company lawl are ￿spOnSible for preparing the Trustees. Annual Report and the finanaal statements in accordance with applicable law and United Kingdom Ac£ounliThJ Standards {Unrted Kingdom Generally Ac£epted Accwnb"ng Praclicel. Company law requirès the tnjstees to preparè fjnancial statements for each financ4al year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and ap￿iCatiOn of resour¢es, including the income and eypendilure. of the ch8ritatAe Cc￿npanY for thai peri(xl. In prepariny these financial ststem8nts, the trustees are reouired to.. select suitable accounting policies and then apply them consistÈnUy. observe the rnethixls an(J principles in the Charrties SORP 2015 IFRS 1021- make judgements and estimates that are ￿sOnable and prudent.. state whether applicable UK AccountiThJ Slandards have been fdlowed. subjèct to any Mat￿81 departures disclosed and ex[￿ained in the financ4al statements.. prepare the financial stalements on the going c(Mcem basis unless it i8 inappropriate lo presume th81 the charitaNe ccqnpany will continue in operatKJn. The trustees are reSponsi￿e lor keeping adeouale accounth.ng records that disdose with reasonable accuracy at any time the financial wsition of the charilable company and enable them to ensure thal the financial statemènts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the tharitable company and hence for taking wsonat4e steps the prevention and detect¥)n of fraL*Y and other irregularities. In so far as the trustees a￿ aware-. ther8 is no rdevanl accounting information of which thè eh8ritable ¢ompanrfs independent examii)er 15 unaware". and the trustees have taken all steps that they oughl to have tsken to make themsèlves aware of any relevant accounting illfom8tTron and to establish thal the independent examiner is aware of that infonnation. Approved by ￿￿er of the board of truslees on 14 December 2021 and $￿Jn￿ on its behaff by. MrA M McAd8m Trustee and Director TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSSNG (ALSO KNOWN AS -STAr) INDEPENDENT AUDITOR'S REPORT TO THE mEMBERS￿RuSTEEs OF TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING Opinion We have audited the financial stalemenls of Telfwd Christian Counryl Supported Hr)using {Ihe 'charilable ￿mpanY) for the year ended 31 March 2021 which comprise the Statement of Financial Activities. Ihe Ststement of Cash Flows, the Balance Sheet and notes to the financAal slalements. $r￿ludIng a summary of significant accounting policies. The finanual reporting framework that has been applieil in their preparation is apKAicable law and United Kingdom Accounting Standards, induding Financial Rep<)rting Stsndard 102 The Financial Reporting Standard ap￿ICable in th8 UK and Republic ol Ireland (United Kingdom Generally Accepted Acc4yJnting Pract￿). This rerK>rt is made solely lo the ch3ritabEe companls members, as a body, in accordance with Chapter 3 of Part 16 of ihe Companies Act 2006. Our audit work has been undertaken so that we mighl State to the charitable companls members those matters we are required lo stale to them in an auditorfs rekxjrt and for no other purpose. To the fullest extent pèmiitted by law. we do rK)t accept or assume responsibility to anyone other than the charitable company and Ihe chari(able compan¢s members as a body, for our audit work. for this re￿rt. or for thè opinions WÈ have fomied. In t￿r opinion the fin8na81 st8tÈmÈnts'. give a true and fair view of the state of the charitable companws affairs as at 31 March 2021, and of its incom*)g resources and applicab.on of ￿Sources, i￿luding tis incorne and expendrture, for the year then ended: . h8vè bèèn properfy prepared in accordance United Kingdom Generally Attepted Accounting Practice.. and . have been prepar&J in accordance with the requirements of the Compan*s Aci 2006. Basis for opinion W8 eA)nducted otsr audit in accordance with Internat￿n81 Standards on Auditiry IUKI {ISAs {UKII and appluble law. Our responsibilities under those standards are further described in the Audit(*s Te5ponsibilities f(x th8 audit of the rinancial statements section of our rep￿. We are indepen¢Jent of the charita￿e company in accordance with the ethtcal rèquirements that are relevanl lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled (xjr other elhical responsibilities in accordance wrth these requirements. We bèliéve that the Al￿11 evidence we have obtained is s4rfficienl and appwate to provide a basis for our O￿n￿n. Conclusions relating to golng concern Wè havè nothing lo report in respect of Ihe followrrfJ matters in relati￿ lo which the ISAS IUKI require us to report to you where.. the trustees. use of the going ¢on¢em basKs of a¢¢(KJnting in the preparation of ihe fin8rKial siatements is not appropriate. or . the trustees have mt disclosed in thè financial statements any Kjentthed material uncertainties that may cast significant doubl about the charitable companls ability to continue to adopl the going concem basis of accounting for a period of at least twelve months from thè date when the financial statemenls are authorised for issue. Other information The trustees are resrx)nsible for the other infom)at1(￿. The other information comprises the infomiation induded in the Oirectors. and Trustees, rewt and accounts. other than the finanoal statements and tyJr auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent olherwise explicitly stated in our report. we do not express any form of 8ssurancÈ wndusK)n thereon. In connection with (Kjr a￿111 of the fin8nci8151atements. wr responsibilty is to read the other infomation and. in doing so, consider whether the othèr infomation is matenalty inronsistenl with the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially misstated. If we idenlfy such material inconsistenues or apparent m8tÈnal misstatements, we are requiied to determine whether there is a material misstat8m8nt in the financial statements or a material misstatement of the other infornalion. If. based on Ihe work we have perfomied. we conclude that there is a material misstatemènt of this other Inlomiati<￿. we are ￿qUired to repNt that fa¢t. We have nothing to report in ihis regard. -12- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS"STAfl INDEPENDENT AUDITOR'S REPORT TO THE mEmBERs￿R￿STEEs OF TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING Opinions on other matters prescribed by thÈ Companies Aci 2006 In our opinion. based on the work undertaken in the course of the audrt.. the information given in the irtjstees. report {incorpor8ting the directors. report) for the fmancial year for which the financial statements are prepared is ¢￿SIstenI with thè finanaal statements", and . the directors. report has been prepared in accordance with apF4icabJe legal requirements. Matters on whieh we are rèqulred to report by èxeèption In the I￿j￿t of our knowledge aThJ understanding ol the charitable company and ils environment obtained in the course of the 8udil. we have not idenitfied rnaterial missiatements in Ihe diredors. report. We have nothing to report in respect of the I￿ow11¥j matters where the Companies Act 2006 requires us to report to you if. in our opinion= adequ8te a¢¢ounting rec(yds have not been kepi or reiums adequale fty our audrt have not been received from branches not visrted by us.. or • the financT81 $181ements are not in agreemwl with the 8c¢¢xJnb"ng rel￿￿d$ 8nd retums." or b certain disclosures of trustees. rerwneration spear￿d by law are not made. or . we have not received all the Infom)at￿ and explanah.ons we require for our audit. Rtsponsibilities of irustees As èxplained more fully in the trustees. responwtrilities statement set thjt on page 8, the lnJSte￿ {who are 81s0 the dlrectors of the charitable company for the putposes of oynpany law) are responsible for the preparalion of the finanaal statements and for being satisfied that they give a true and fair view. and for such intem81 control as the trust￿ delermine is necessary to enat4e the preparation of finan081 statements that are free from material misstatement. whether to fraud or error. In preparing the financial statements, the trustees are reswJnsI￿e for assessing the charitable c￿MpanY'S ability to continue as a going concem, disdosing, as applicable. matters rdated to going concern and using the gtsing con￿rn basis of accounting unless the trusia&s either intend to liqU￿ale thè etharita￿e ￿)MpanY c* to cease operab"ons. or have no rèalistic altemative but to do so. Auditor's responsibllitbes for the audit of the financial statements Our objèctives are lo obtain reasonable assurance 8lJout whether the frnancial statements as a whole are f￿e from rnaterial misststèmant. whether due to fraud or error. and to issue an audTrtorfs report that includes our opinion. Reasonable assuran￿ is a high level of a&8urance. but is rk)t a guarantee that an audit conducted in accordance with ISAS IUKI will always detecl a maleri81 misstatement when it exisls. Misslatements can arise from fraud or error and are considered material if, individually or in the aggregate. they ¢wld reasonabty be expected to influ&ncè th8 economic deCIs￿n$ of users taken on the basis of these financ￿ statements. As part of an audit in accordance wth ISAS {UK). we exerase professk)nal judgment arKI maintain professional scepticism throughout the audit. We also: Identify and assess the risks ¢f matèrial misstslemenl of the financial stalemenls, whether due to fraud or error, design and pefftjm audit pr￿edureS responsNe to those risks, and obtain audit evidence that is sufficiént and appropriate to F)roMde a basis for our opinion. The risk of not detecting a material misstatement resuliing frc fraud is higher than for one resulbng from error. as fraL*J may involve c(AluSic￿. forgery. Intentional omissions. rnisrepresentations. or the override of intemal control. Obtain an understanding of intemal control rdevanl to the audit in ordef to design audit ryo¢edures that appropriate in the circumstances. tyjt not for the purpose of expressing an opinion on the effectiveness of the charitsble CoMpan￿S intemal ¢(Mtrol. -1& TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS"STAri INDEPENDENT AUDITOR'S REPORT TO THE PAEMBERsrrRUSTEES OF TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING Evalu8te the appropriateness of accounting ￿liC[eS used and reasonableness of accounting estimates and related disdosures made by the Injstees. Conclude on th8 aF)propriateness of the tsustees. usa of the going concem basis of accounts'ng and. based on the audit evidence obtained. whether a malerial uncertainty exists related lo events or conditions that may cast signrficant doubt on the charitable wmpany's ability to continuè as a 90ing concem. If we condude that a materia1 uncertainty exists, we are required to draw attention in I￿1 auditorfs report to the related disclosures in the nancial statements or. rf such disdosures are inadequate, to modty our opinion. Our ¢￿￿usIonS arè based on the audit evidence obtainèd up lo the date ol our auditor's rerth. However. fijture events or efjnditions may cause the chantable company to cease to continue as a g￿ng oxcem. Evaluale the overall presentation, structure and content of the finanaal statements, including the disclosures, and whether Ihe financial statements represenl the uniledwng [ransact￿n$ and events in a manner Ihat achieves fair present8b"on. As part of an audit in accord8n(% with ISAS IUK). we exercise professiC￿al judgmenl 8fKI rnaintain professional scepts.cism thr()ughoLrt the audit. We also: We communie8tÈ wth thosè wrth govem8n¢e regarding, 8mng other m8ttèrs, thè pLgM8d sex)pe and timlng of the audil and significant audit findings. induding any signrfrAnt defiuenaes in intemal control that we ￿entifY during our audit. 2L DIL4tykn I Date.................................................. Robert Humphreys BEng FCA {Senlor Statthory Audltor) for and on behalf of Jame& Holyoak & Pa￿er Limited Chartered Accountants and Statutory Auditors 1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury Shropshire SY1 3GA -14- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAr} STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Summary Income and Expenditurè Account Total 2021 Total 2020 Notes Rèstrlcted Unrestricted Incomè from: Donations & legacjes 28.519 28.519 35,072 CharitstAe aclivilies 453.710 1.241,032 1,694,742 1.303,129 Total incoming resources 453.710 1.269.551 1.723,261 1.338.201 Expèndlture on: Charitable 8clivitses 459.210 1.085,501 1.544.711 1.269,215 Other expenditure 80.404 50,614 Total •xpenditvre 459,210 1.165.905 1.625.115 1,319,829 Transfers between fun {5.5￿) 5,500 Nel incomel{expènditur•l 98.146 98.146 18,372 Other recognised gainslllosses) RévaluatK)n of tangible fixed assets Other gainsl{lossesl 20 25,000 Nèt movement in funds 98,146 98.146 43,372 Recon¢lllation of funds: Total funds brought forward 17 5.442 490.238 495,680 452,308 Total funds carried forward 17 5,442 593,826 495,600 The Statement of Financial Actiwties indudes deta￿S of all ￿￿5 and losses rec(YJnis8d in the year. All income and expenditure derives from continuing aCti￿￿"e$. -1& TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS "STAr) BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Not•s Fixed assets Tangible assets 376,332 681,384 Current assets Debtors Cash at bank and in hand 10 25.201 321.078 346.279 32,553 52.189 84,742 CredStors: amounts falllng due wlthln one year 12 116,767 88,489 NÈt eurrent assÈts 229,512 (3.7471 Total assets less current liabllltles 605.844 677.637 Crèditors". amounts falling due after MOTÈ than one year 13 1169,749) OefSned benefjt pension liability 18 {12.0181 112,208) Net assets 593,826 495.680 Charity funds Unreslri¢ted funds Restricted funds 17 17 4￿,238 5,442 5.442 Total charity funds 593.826 495.680 These acwjnts are prepared in accordance the proMsKffls applicable to ccffipanies subject to the small companies. regime, in accordance wifh Part 15 of the Cornpanies Act 2(#J6. The financaal statements were approved and authorised for issue by Ihe Board of Trustees on 14 December 2021 and slgned on its behalf by. Mr B Keates Dii$ctor aEKJ Truslee The notes on pagès 14 to 22 fomi part of these financial ststements. Company Registration Number.. 03471122 {England & Wales) -16- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS "STAY-I NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Summary of significant aecounting polleles 1.1 General infomiation and basls of preparallon Telford Christian Countsl &Jpported Housillg is a privale company limited by guarantee, and a registered charity in England and Wales The company number 1$ 03471122 (England & Wales). and the registered charity number is 1066948. In the evenl of the charity being wound up. the liability in respect of the gLJaranlee is limited to £1 per member of the charity. The address of the regtstered office is Mèeting Point House. Southwater Square. Town Centre Telford, Shropshire. TF3 4HS. The nature of the charitys operatK)ns and principal activities are to assist in the relief of povety and 1￿meleSSness. The charity consfitutes 8 benefit èntity as definèd by FRS 102. The financial stalements have been prepa￿d in accordance with Accthnling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance ¥wth the Finan¢ial Reporbng Standard aprlicable in the UK and Republic of Ireland IFRS 102} effedive 1 January 20191 thè Financial Reporting Slandard applicable in the Uniled Kingdom and Republic of Ireland IFRS 1021. the Chaiities Acl 2011. the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. Thé financ￿1 $tsteM￿ts are prepared ￿ a 90ing concem basis under the historical cost conventw)n, modffied to include certain items at fair value. The finarrial statements are presented in slerfing whicj) is the functional currency of the charity. The significant accounting policies applied in Ihe p￿paratiOn of these financial statements are sel out below. These policies have been ¢onsistenlly applied to all years presented unless olheMise stated. 1.2 Flnanclal reporting standard 102 - reduced disclosure exemptlons The disclosure requirements of section 1 A of FRS 102 The Finanaal Rewrting Standard applicable in the UK ané Repu￿1¢ of Imland. havè béan aP￿led other than where additional disc105ure is required lo show a true and fair view. 1.3 Funds Unrestricted funds are available for use at the disc¥etion of the trustees in ￿rtheranc￿ of the general W'ectives of thè charty and whiej) have not beén designated for otlw purposes. Designaled fund5 comprise unrestricled funijs that have bÈen set 8side by U)e truslÈes for particular purposes. The aim and use of each designated fund is set out in the notes to the finanual statements. Restricted funds are funds which are to be used in aCCordar￿e wilh specrfic restrictions Trmposed by donors or which have been raised by Ihe charity for particular purposes. The cost of raisirvJ and administering such funds are charged agairhst thè specific lund. The aim and use of each restrbcted lund is set out in Ihe notes to th finanaal statements. 1.4 Income recognition All incoming ￿$OUrceS are induded in the Statement of Financial Activities {SoFAI when the charity is legally enb'ded to the income after any perfomance condiiions have been met. the amount can be me8$ured reliably and it is probable that the income will be receNed. Voluntary income is rec*ived by way of grants. donations and grfts. and is included in full in the Statement of Financial Affairs when receivable. Grants. where entitlement ts not conditional on Ihe delivery of a specTr perfornian￿ by the charity. are recoanised vthen the charity becomes unconditionally entrfled to the grani. Investment income is induded as it tecrn receivable. -17- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS'STAYI NOTES TO THE FINANCIAL STATEPIENTS FOR THE YEAR ENDED 31 MARCH 2021 1.5 Expenditure recognition All expenditure is a¢counted for on an acuuals basis and has bèen cLgssrfied under headings thal aggregate all costs related to the category. Expenditure is recognised Whe￿ there is a legal or constructive obligation to make payTnents to third parties. it is prOba￿e that the seltlement wim be required and Ihe amount of Ihe obligatson can be measured ￿lIablY. Expen(lilure comprises those costs inCu￿e￿ by the charity in the ddi¥ery of its acbvities and serwices for its beneficiaries. 1.6 Allocation and apportionment of costs Allocation of wages and salaries is based on the cost for each staff member and the fund f(x which they work. location of supp(Nt wsts is based on the shar8 of the inc4)me for eath fvnd as th8 trustees believe this best represents the consumption of resour￿$. 1.7 Tangibl• fixed assets Tangible fixed assets are stated at cost lor deemed costl or valuation less accumulated depreciation and accumulatéd impairment losses. Cost indudes costs direcuy altribulabbe to rnaking the asset ¢8P8ble of operating as inlended. Depreciation is provided on all tangible fixe(l assets. 8t rates ¢alcul8ted to write off Ihe cost. less estimated residual value. of each asset on a s￿terna￿.¢ basis over its expected usefvl lrfe as follows.. Freehold property Short leasehold improvements Fixtures and fith.ngs Computer equipment t provided 25% on cost 25% on cost 25% on cost The freehold properties are induded in the balance sheet at onginal cost aThJ revalued amount. which the tnjstees believe to be a rea￿stiC reflecti￿ of their fair Va￿e. 1.8 Golng concern The financial ststemÈnts have beèn pre￿￿Ted ¢Y) 8 g(Nng eonc£m basis 8$ thè Irusteès believe that rK) material uncertainties exist. The truslees have considered Ihe level of funds held and the expected level of income and expenditure for 12 M￿thS frcKn authorising these financial statements. The trwdgeted income and expendilure is sufficient wilh the levèl of resèrves for the charity to ￿ atAè trj continue as a going concèm. 1.9 Slgniflcant judgèmènts and estimates Estimates and judgements are continually evaluated and are based on hkstorical experience and other factors. induding expectalions or future events that are beI￿Ved to be reasonable under the arcJJmstances. The Charity makes estimates and assumptions conceming Ihe fvture. The resulting accounting estimates will, by dèfinrtion. sddom equal the aclual re5ulls. In the opinion of the trustees there are no estimates nor assumpbons that have a significant rTrsk ol causing a material adjustrnent to the CArrying amounts of assets and liabilities within the néxt finan¢ial year. 1.10 Comparative figures Thè Challties SORP stsle5 that financi* statemenls must Include comparatives for all amounts presented in the accounts a￿1 notes. However comparalive r￿ureS induded in these financial statements have been presented as total funds and have not been s ￿lt inlo separate fvnds. The trustees consider that to do so would make the finanual statèmènts wientially confusing. If required. a fvll breakijown of comparative figures can be found on the register at Companies House. -18- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAri NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Donations and legacies Total 2021 Total 2020 Restrlcted Unrestricted Other donatM)ns 28.519 28,519 35,072 Income from charltable activilies Total 2021 Total 2020 Rtstricted Unrestricted Rental income- accommodaiion Rental income- office space and café Sundry income Supporting Pe￿e 818.040 16,(K)2 406, 818.040 16.002 4￿,990 453.710 713.331 15,802 113,263 460,733 453.710 453.710 1.241.032 1,694,742 1,303,129 Analysls of expèndlture on charltable acilvlties Total 2021 Total 2020 R•stricted Unrestrlcted Costs dire¢ty allocated to activities Wagès Social security Pensions Redundancy costs Premises costs Adminbstralion costs Sundries Bad debts Ilost rental income) Payments to sub-contrart(Ys Rent losses due to void propertie5 Travel Mortgage interest 414.178 22,110 11,420 89.507 5,370 503.685 27,480 14.105 40fl,925 22,450 11,597 5,292 404,830 40.480 4,441 2,628 259.628 81,478 27,155 8.311 570,530 46,136 30,848 633 255.310 68,037 11,S)1 4,944 570.530 46,136 30,848 633 255.310 68,037 23,003 11,9)2 459.210 1.085,501 1,544.711 1,269.215 Analysls of other expenditure Tatal 2021 Total 2020 Restrictèd Unre$trictsd Support costs ALJdilors' remuneratic Sundries Legal and professional fees Bank charges Oepreaation of fixiures and fittings Depreciation of c£Jmpuier equipment S.040 64.055 4.810 33.783 6.267 408 2,778 2,56e 64.055 5.904 352 2,778 2,27S 352 2,778 2.275 80.404 80.404 50.614 -19- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS -STAf) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2021 Contributions to general overheads Total 2021 Totsl 2020 Nel incomelldeficit} 15 Stated after charging.. Auditors. rernuneration Depreeialion - owned assets Property lease rentals Defined benefrt pension contri1￿1￿S PaKI 5.040 5.053 323.181 14.105 4.810 5,346 273,$41 11,597 Trustéès. and kèy managèment personnd rèmunèration and èxp•ns•s No remuneration was paid to twstees during the year, or in the wior year. Remuneration paid to key management personnel w35 as follow5.. 2021 Number 2020 Number 2021 2020 118.078 93.415 There were no tnjstees. expenses paid for the year erM1ed 31 Marth 2021 nor for the year ended 31 March 2020. Staff costs and employee benefits 2021 Number 24 2021 2020 Nurnber 27 2020 FTE Direct charitable work AdminislralKJn and support 23 19 25 31 21 The total staff costs and employees benefits was as follows: 2021 2020 W8ges and salariès Social security costs Private pension ¢onlributions 503,685 27,480 14,105 400.925 22.450 11,597 545,270 434,972 No employée re¢eNed totsl r•xuneration and em benefits of mots than £60.0(K). TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING IALSO KNOW14 AS -STAY-I NOTES TO TrtE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Tangible fixed assets Freehold Short kasehohl Flxfvres and property ovements C¢)mpLrt*r Total Cost or valvation: At 31 March 2020 Addrtions Disposals Revaluation Al 31 March 2n21 675,0 94,￿2 29.269 125,120 924,291 1300.CH)O) 1300.0001 375,0(￿• 94.902 29,269 125,120 624,291 Depreciation: Al 31 March 2020 Charge for year Al 31 March 2021 94,￿2 26,011 2.777 28.788 121,994 2,275 124,269 242,907 5,052 247.959 94,902 Net book value= At 31 March 2020 675.OCrt) 3,258 3,126 681.384 At 31 March 2021 375.OC(I 481 851 376.332 If revalued assÈts were staled an historic cost basis rather than fair value basis, the total amounts induded would have been as follows.. 2021 2020 Cost Accumulated depreuatK)n 375.000 750,OLVJ carr￿ng value 375.0( 750,000 10. Debtors 2021 2020 Trade debtors Other debtors Prepayments 1,281 9,107 14,813 1.025 8,707 22,821 25.201 32,553 -21- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS-STAYI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 12. Credhors: amounts falling due within onè year 2021 2020 Bank loans and overdfafts (see mte 14) Trade ¢redii¢rs Social security and other taxes Deferred income Other ¢reditors Accrued expenses 11,137 19.770 6.715 21,975 11.000 17.892 21.766 8.217 40.428 50 46,306 116.767 88.489 13. Credltors: amounts falllng dut In more than one year 2021 2020 Bank loan$ 8nd overdrafts {see note 141 169,749 14. Loans An analysis of the maturity of the loans is given bdow.. 2021 2020 Bank loans falling due within one year 11.137 Bank loans falling due between one arKI two years 11,585 B8nk loans falling due between two #nd five years 37,625 Bank loans falling due in more than )Ive years. repayable by inslalments 120,539 15. Sècured debts The fdlowing secured debts are induded wthin uedrtcffs." 2021 2020 Bank loans 180.886 The bank loans are secured by way of fixed and floatiThJ charge over the undertaking. property and assets of the charitable comp8ny_ 16. Analysis of net assèts bètwèèn thé funds Unrestricted Designated funds funds Restricted fiknd Total Fixed assets Nel current assets Creditors tslling due in more than ￿e year Defined benefrt pension liability 310.498 224.070 65,836 376.332 229.512 5.442 112.0181 12.018 522,548 65.836 5.442 593,826 -22- TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS "STAfl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. Fund reconciliation Expenditure & galnslllossèsl Transfers Asat 31 March 2021 1 April 2020 Income Unrestricted: General reserye Revaluats'on reserve Designated fund5= Property repairs sinknig fund Em ￿OYMent reserye Client rent deFK)Sit 499.402 I75,￿0) 1.269,551 (1.165,9)51 {5.5001 597,548 I75,1￿) 42.157 21.459 2.220 42,157 21,459 2.220 Totsl unrèstricted funds 490.238 1.269.551 1.165,905 588,384 Restricted funds: Local authMty floating SUPP(￿¢ contract Millichope Oclavia Court 453.710 1459.210) 5.500 5.0 442 5,000 442 Total restricted funds 5.442 453.710 459,210 5.500 5,442 Total funds 495,680 1.723.261 1,625.115 593,826 Deslgnated funds: Property repairs slnking fund Stay has taken on six houses of multiF4e rfcUpa1￿ ￿ repairing leases. It alw rents ten flats from Wrekin Housing Trust and private landk)rds. This fund is to cA)ver the cosl of repairs to these properties. Employment reserve The emplayTnent reserve has bèen designated lo eA)ver any redundancy payments Ihat may be due should funding be wilhdrawn_ Client rent dèposit This represents rental deFosits held in respect of the fre8lv)Id [￿pertY purchas8d during the year. Restricted funds: Local authority ftoating support contraet In 2013, Stay joined f TELFORD CHRISTIAN COUNCIL SUPPORTED HOUSING (ALSO KNOWN AS "STAri NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Restricted funds l¢ontinuedl-. Ail income from this contract is used solely for the provi%on of Ihe floating support servi¢e. and the administratithi thereof. Although this is treated as a restricled fund. any surplus at the year end is not refundable to the I￿or. nor is the surplus restricted. and therefo￿ any JEar balance ts transferred to unrestricted funds. Wlillichope Funds pwded by the Milli¢hopè F¢xJndatic>n have speofi8d aims. wtlhin the scope of the Charity. O¢tavia Court Donations lor use specifically in that stheme. 18. Pensions and other post retirement benefits Employees of Telford Christian Council Supp)rted Housing are entityed to membership of the Pension Trust Growth Plan 1.the Plan"l- This is a Mult￿eMploYer ￿nsi￿ which in mst respects is a money purchase arrangement. Contributions paid into the Plan up to and nduding September 2￿1 (Series 1 and Series 21 were converted into defined amounts of pension pard￿e from normal retirement dates. From Oclober 2001, contributions were invested into rwsonal funds which have a Capital guarantee and which are converted to pension on rets'rement. either within the Plan or by Ihe purchase of an annuity. The rules of the Plan give the Trustee the Fower to require empbyers to pay additional contribvtions in order to ensure Ihat the slatutory funding objective urbder the Pensi￿$ A¢t 2004 i% meL The statutory funding oty-èthvè is that a pension scheme should have suffioent assets to meet its past seNice liabilities. known as Technical Provisions. An acluarial valuation for the scheme was carried out In September 2018. This ValUat￿n showed a totsl scheme deficit of £113m. To eliminate this funding. the Trustee has asked the partilipating employers lo pay additional contributions to th8 scheme {the Recovery Plan). However, the rècovèry plan contributi(￿S are allocated to each pa￿"¢Ip3tin9 employer in line with Ihew estimated share of the Series l and Series 2 scheme liabilities. Telf¢yd Christian Counryl Supported Housing did not make contributions to thè Plan to Sèptèmbèr 2001. and consequentty has no se￿es 1 and Series 2 scheme liabilities. Thwefore. there is rn prowsKJn induded in respect of these schemes. Telford Christian Council SUp￿ed Housing made conlrityjtions into Series 3 of the Plan befvleen October 2001 and September 2014. Since October 2014. all contritrMJiions have been paid into part 4 of the Plan. which is a money purchase arrangement. The invèstment objective of Growth Plan Series 3. and these assets 1£173m as at 30 September 201718re invested in a cash fund to meet the capital guarantee in ￿ace. Therefore, Ih8bilities are measured for Growth Plan Series 3 in a different way to Growth Plan Series 1 and 2. Un¢Ser the Technical Provisions basis, there would bè no liabilily calculated for Gr¢>wth Plan Series 3, and therefote Tefford Christian Council SuptK)rted Housing is not required lo make additional contritrwjtions lo the scheme in respect of Ihe deficit. When an em￿0yer wiihdraws from a multi-em ￿0YeT defined benefit pensi￿ scheme which is in ￿er￿t. calculated on a stslutory ba￿S known as 1he.buy out basis". the ern￿OYer is required by law to pay its share of the deficit. Whilst Telford Christian Council Supported Housing has no intention of wrthdrawing from the Plan. it is difficult for the charity to confirm with absolute certainly that it wll not have to w¢thdfaw from the Plan belore any potential defieit has been corrected. Therefore. Te￿￿d Cknstian coun¢￿ Supported Housing has provided in full for the tenb'al employer debt on withdrawal from the Plan. -24- TELFORD CHRISMAN COUNCIL SUPPORTED HOUSING {ALSO KNOWN AS-STAri NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2021 Pensions and other post retlrement bènefits {eontinuèdl: The costs on withdrawing from the Plan. in the unlikely event that thè charity should do so. are as follows: 2021 2020 Pension defiat paYa￿e only on withdrawal from scheme 12.018 12,208 19. Relaièd party transaetlons No material transactions relaled part￿ ￿rred during the Y￿r. 20. Rtvaluation of fixÈd assèts 2021 2020 Revalu81ion of tangible fixed 8ssets 25,000 A property known as The Chimes". Mossey Green. Kètley Bank, Telford. was purchase in 2012 8t a valuation of £375,000. The Charity h8S (kntained a valuation in January 2019 for £275.000 and the property was ￿valued accordingly. However after year end March 2020 the property was in thè Fyocess of being sokl for £3(K).000. Therefore the valuation of the [￿pertY has tmn inueased lo reflect this. The property has subsequently bggn sold in the year ¢0 31 March 2021. -2