NOMAD OPENING DOORS
REGISTERED IN ENGLAND AND WALES UNDER COMPANY NUMBER 3846994
REGISTERED CHARITY NUMBER 1078089
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
TINGLE ASHMORE LTD
CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS SHEFFIELD
NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
INDEX
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' annual report | 2-6 |
| Independent examiner's report | 7 |
| Statement of financial activities and income and expenditure account | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10-19 |
NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
LEGAL AND ADMINISTRATIVE INFORMATION
Name and principal address Nomad Opening Doors Blades Business Hub John Street Sheffield S2 4SW Company number 3846994 Charity number 1078089 Trustees Lisa Smith Luke Morton Chris Sterry Sylvia Kotokwa - appointed Sep-21 Ruth Lucas - appointed Sep-21 Pat Niblett - resigned Jan-22 Marta Weglinska - resigned Apr-21 Company Secretary Stephen Rundell Key management personnel Stephen Rundell Chief Executive Officer Karen Awdhali Head of Services Angela Argenzio Finance & Funding Manager Bankers Co-operative Bank Plc West Street Sheffield S1 2SX Monmouthshire Building Society John Frost Square Newport NP20 1PX Hampshire Trust Bank PO Box 74003 London EC2P 2QR Accountants and independent examiners Tingle Ashmore Ltd Enterprise House Broadfield Court Sheffield S8 0XF
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
TRUSTEES' ANNUAL REPORT
The trustees present their annual directors' report and the unaudited financial statements of the charity for the year ended 31st March 2022 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
Objectives and Activities
Purposes and aims
Our charity's purposes are as set out in the objects of the company, which are to relieve poverty and, in particular, need amongst homeless persons in the City of Sheffield and elsewhere without distinction of race, sex, sexual orientation, age, nationality, disability, or political or religious beliefs, by the provision of temporary hostel accommodation and ancillary advice and support services. The original organisation was formally constituted in 1989.
The aims of our charity are: to offer advice, support and practical help to homeless or inadequately housed people and to those threatened with homelessness and these aims fully reflect the purposes that the charity was set up to further.
Ensuring our work delivers our aims
Nomad Opening Doors (herein referred to as Nomad) staff and Trustees review the company's aims, objectives and activities each year. We consider what we have achieved against the targets we set and the outcomes of our work in the previous 12 months. We analyse the success of each key activity through Nomad's projects and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aims, objectives and activities remain focused on our stated purposes.
Public benefit
We confirm that the trustees have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
Our objectives are:
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●To improve access to decent, affordable housing;
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●To help people transition out of homelessness quickly and positively; and
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●To support people to develop the skills and resilience to help them avoid homelessness in the future.
We do this by:
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●Increasing supply by encouraging and supporting landlords to let to people experiencing or threatened with homelessness
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●Equipping people using our services with the skills and resilience they need to ensure that once they do secure accommodation, that they can sustain it.
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on supporting people who are homeless or threatened with homelessness and are undertaken to further our charitable purposes for the public benefit.
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●We support people transitioning out of homelessness to increase their personal assets, reduce their usage of public services and access education, training, employment and volunteering opportunities that support their aspirations and increase their resilience.
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●We support people to sustain their tenancy and reduce repeat cycles of homelessness, using evidence-based approaches.
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NOMAD OPENING DOORS
TRUSTEES' ANNUAL REPORT
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
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●We work with private sector landlords to improve the availability, standard and affordability of housing for people who use our services.
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●We work with social housing providers and the local authority to develop innovative and sustainable responses to the needs of people who use our services
Who uses and benefited from our services
We continue to work with people who are homeless or vulnerably or inadequately housed. Those in housing need who have used our services in this accounting year were all aged over 16. The people using our service included many people from communities who face additional challenges, including refugees, people from ethnic minority groups, people with a history of offending behaviour, people with health issues and disabilities, people fleeing violence and abuse, young people leaving care, prison, hospital, or the armed forces, people with learning difficulties and LGBT+ people.
Achievements and Performance
Nomad continues to work towards these high-level objectives:
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Improve the supply, standard, affordability and security of housing for low income client groups in Sheffield and the wider Sheffield City Region.
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Learn from the wider sector and integrate partnership working, innovation and good practice into our approach to enable us to continue to work with homeless clients and to ensure we are at the forefront of change in commissioning and policy decisions.
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Diversify income streams through fundraising and trading activities to ensure sustainability and reduce dependence on grant funding
Achievements 2021-22
This year saw the tail end of national lockdowns, travel restrictions and the like but the aftermath of the Covid 19 pandemic dragged on through the year, casting a long shadow.
Nomad forged ahead, developing and growing all aspects of service delivery. The Training Flats project, a key part of the Smart Steps programme, remained strong at the heart of the Nomad offer. We achieved occupancy rates of just over 95% throughout the financial year, in spite of the limitations that Covid 19 restrictions placed on staff and on delivery. Running alongside this project, Four Trees Lettings Agency (the trading arm of Nomad) expanded taking on a further three flats in the Royal Apartments of Abbeydale Road. The team also made the decision to relinquish one of our managed properties and return it to the landlord. Though a difficult decision, it was very much in keeping with our core values; Nomad expects all managed properties to be maintained to a high standard. The property in question had fallen below that standard and was unlikely to be improved. By year end, Four Trees Lettings Agency was managing 46 bed spaces spread across 8 properties. A review of targets for Four Trees Lettings Agency was conducted in early Autumn 2021. It was concluded that, having taken on several new properties in the summer, a period of consolidation was required where no further properties were to be sourced. It was also concluded that the current model of delivery is unlikely to bring the financial stability expected. It was decided that Four Trees Lettings also needs to run a “mainstream” project alongside the project which focuses on Nomad’s core client group providing shared accommodation with guaranteed rent. It was decided that this would be launched at the start of 2022.
All staff continued to step up to the ongoing challenges of their roles and of the shadow cast by the Covid 19 pandemic and related restrictions.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
TRUSTEES' ANNUAL REPORT
Our Progression and Development Officer (the one time Asset Coach) skilfully provided a raft of wrap around services including chaperoning of tenants at appointments and meetings, mentoring, support through therapy and signposting to a range of partner agencies. While service delivery was strengthened in 2021-22 through the growth of Nomad’s fundraising function; our Communications and Fundraising Coordinator successfully secured more than £75,000 throughout the year to support all aspects of service delivery – an overwhelming success on which to build in future years.
We welcome three new members of staff to the team - Christina Carroll who, in December 2021, took up her post as Administrator for Four Trees Lettings Agency; Mark Jackson who joined the Four Trees team as Lettings Negotiator in the very early spring of 2022; Aurora Piano who joined the Core team as Finance and Administration Assistant also in the spring of 2022. All three have brought enthusiasm, commitment and experience to the organisation and are proving to be valuable additions to the team.
Developments in 2022-23
Early in 2022 Nomad entered into discission with the owners of a Dronfield based agency called Clarity Enterprises Ltd. about the possibility of Nomad buying the agency. At time of writing in June 2022, discussions are nearing conclusion with the purchase likely to be completed on 1st September. This agency, though operated as a separate project, will fulfil the function of providing financial stability to the charity and Four Trees Lettings by offering a more “mainstream” service (as mentioned above).
Changes to the Board of Trustees.
In 2021-22 we said goodbye to Pat Niblett, one of Nomad’s longest serving Trustees. As a housing expert, Pat brought a great deal of experience and common sense to the Board.
In the spring of 2021, we successfully recruited two new members to the Board. Ruth Lucas is a very experienced housing professional with knowledge of both local and national policy and strategy. Based in Sheffield but having travelled widely during her extensive career, Ruth is bringing an exciting, fresh perspective to the Board.
We also successfully recruited Sylvia Kotokwa to the team of Trustees. Sylvia has a long history of working in a variety of roles with third sector organisations within Sheffield. Sylvia is currently studying for her degree in Social Work and in 2020-21 undertook one of her course placements with Nomad. Sylvia is an excellent and very welcome addition to the Board.
Many thanks to all Board members for their support and commitment and a special word of thanks to our Chair Luke who steered the Nomad ship through a difficult year.
Financial review
Nomad’s position at the end of the financial year remains strong with the organisation performing better than budgetary predictions.
The backbone of this stability continues to be the National Lottery Community Fund grant, the third year of which ended on 31st March 2022. On top of this, a significant three year grant from the Tudor Trust has continued to add to overall financial resilience.
The Four Trees Lettings Agency, Nomad’s trading arm, launched in the summer of 2020, though not performing as strongly as initially predicted, continues to grow. An in year contribution to Nomad core costs of £2000 was made by the lettings agency and any surplus generated in 2021-22 will be transferred to Nomad to support the organisations key charitable aims in due course.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
TRUSTEES' ANNUAL REPORT
31ST MARCH 2022
Reserves Policy
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission. Having reviewed its requirements and taking into account any costs that would be incurred should the charity cease to exist, the Trustees have determined that the minimum level of reserves held should be £105,000. Furthermore, they agree that the minimum level of reserves held should be at least 3 months operating costs.
This level will be reviewed on an annual basis to ensure that this remains an appropriate minimum level. At the year end total funds were £235,453, of which £16,543 were restricted funds and £218,910 were unrestricted funds. Reserves at 31st March 2022 were £212,622.
Going Concern
The Trustees confirm that in their opinion Nomad is a going concern and will continue to be so for at least the next financial year. The finance department, now consisting of the Finance Manager and a newly recruited Finance and Administration Assistant, underpins Nomad’s financial probity.
Structure, Governance and Management
Governing Document
Nomad is a company limited by guarantee and a registered charity. The company was incorporated on 23rd September 1999 and registered as a charity on 8th November 1999.
Nomad's articles were revised in July 2018 to bring them up to date. Previously the charity's constitution was divided into two documents, the Memorandum of Association and the Articles of Association. For companies registered since 2009, all constitutional provisions are bundles into a single document, the Articles of Association. As Nomad Opening Doors was registered prior to 2009, its constitution has this old-style, two document layout. As a result of this review, we now have a governing document which is easier to read and navigate.
A minor amendment to the charitable objects was also made in March 2018 to include the words 'in particular' which is illustrative, rather than limiting.
Company Status
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of a winding up. The total number of such guarantees at 31st March 2021 was 5.
The Trustees are members of the charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts.
Recruitment and Appointment of Trustees
Trustees are recruited through various means. Initial contact is through the CEO who will meet the enquirer and discuss with them the requirements of the role, as well as giving them a Trustees Information Pack. Nomad's Trustees are appointed by election with approval of the Board. One third of the members of the Trustees must retire by rotation but may stand for re-election. Other members can be co-opted during the year.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
TRUSTEES' ANNUAL REPORT
31ST MARCH 2022
Organisational Structure
Each of Nomad's projects is managed by the Head of Services, who is line-managed by the CEO.
Decisions for the charity are normally taken at Trustee meetings. The CEO and Finance Manager present operational and financial reports/information. The CEO convenes monthly SMT meetings to review all operations.
Trustees' responsibilities statement
The Trustees (who are also directors of Nomad Opening Doors for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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●select suitable accounting policies and then apply them consistently;
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●observe the methods and principles in the Charities SORP 2019 (FRS 102);
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●make judgments and estimates that are reasonable and prudent;
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●state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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●prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.
The Annual Report was approved by the trustees on 7th September 2022 and signed on their behalf by
…………………………………………… Luke Morton (Chair) Trustee
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NOMAD OPENING DOORS
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31st March 2022 which are set out on pages 8 to 19.
Responsibilities and basis of report
As the charity Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
…………………………………………… Brendan Ashmore ACA Tingle Ashmore Ltd Chartered Accountants & Registered Auditors Enterprise House Broadfield Court Sheffield S8 0XF
Dated: 7th September 2022
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| Notes | 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations and legacies | |||||
| Donations | 20,143 | - | 20,143 | 7,151 | |
| Core grants | 37,166 | - | 37,166 | 49,529 | |
| Charitable activities | 2 | 225,454 | 178,483 | 403,937 | 378,890 |
| Investment income | |||||
| Bank interest receivable | 115 | - | 115 | 75 | |
| _ | _ | _ | _ | ||
| Total income | 282,878 | 178,483 | 461,361 | 435,645 | |
| _ | _ | _ | _ | ||
| Expenditure on: | |||||
| Raising funds | 511 | - | 511 | 221 | |
| Charitable activities | 3 | 242,018 | 170,311 | 412,329 | 412,404 |
| _ | _ | _ | _ | ||
| Total expenditure | 242,529 | 170,311 | 412,840 | 412,625 | |
| _ | _ | _ | _ | ||
| Net income for the year | 5 | 40,349 | 8,172 | 48,521 | 23,020 |
| Total funds brought forward | 178,561 | 8,371 | 186,932 | 163,912 | |
| _ | ______ | _ | _ | ||
| Total funds carried forward | £218,910 | £16,543 | £235,453 | £186,932 | |
| _ _ |
__ ____ |
_ _ |
_ _ |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
BALANCE SHEET
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 8 | 7,407 | 10,742 |
| _____ | ______ | ||
| Current assets | |||
| Stocks | 1,367 | 1,349 | |
| Debtors | 9 | 37,179 | 40,190 |
| Cash at bank and on hand | 220,054 | 164,027 | |
| _ | _ | ||
| 258,600 | 205,566 | ||
| Creditors - amounts falling due within one year | 10 | 30,554 | 29,376 |
| _ | _ | ||
| Net current assets | 228,046 | 176,190 | |
| _ | _ | ||
| Net assets | £235,453 | £186,932 | |
| _ | _ | ||
| _ | _ | ||
| Charity funds | |||
| Unrestricted funds | 13 | 218,910 | 178,561 |
| Restricted funds | 13 | 16,543 | 8,371 |
| _ | _ | ||
| Total funds | 12 | £235,453 | £186,932 |
| _ _ |
_ _ |
For the year ending 31st March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the period in question in accordance with section 476;
-
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved and authorised for issue by the Board on 7th September 2022 and signed on their behalf by
……………………………. Lisa Smith Trustee
……………………………. Luke Morton Trustee
Company number: 3846994
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
(a) General information and basis of preparation
Nomad Opening Doors is a company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard application in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £.
These financial statements present information about the charity as an individual undertaking and not about its group. The charity is exempt from the requirement to prepare group accounts as the group is small.
The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Going concern
The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
(c) Income
All income is accounted for as soon as the charity has entitlement to the income, there is certainty of receipt and the amount can be measured.
Income is only deferred when:
-
●The donor specifies that the grant or donation must only be used in future accounting periods; or
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●The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Grants receivable
Grants received for specific purposes are accounted for as restricted funds. Grants are not recognised as receivable until all conditions for receipt have been complied with. Where donor imposed restrictions apply to the timing of the related expenditure, as a pre-condition for its use, the grant is treated as deferred income until those restrictions are met.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
- 1 Accounting policies (continued)
(d) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive 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 measured reliably
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
- (e) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4.
- (f) Fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is calculated to write down the cost, less any residual value, of the fixed assets over their expected useful lives. The rate used is as follows:
Office fixtures and equipment
-
4 years straight line basis
-
(g) Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
(h) Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.
- (i) Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the year, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
(j) Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme for its employees. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
(k) Accrued Holiday Pay
Provision is made at the balance sheet date for holidays accrued but not taken, at the salary of the relevant employee at that date. The expected cost of compensated short-term absence (i.e holidays) is charged to the SOFA on an accruals basis.
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies (continued)
(l) Termination Benefits
Termination benefits are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The charity recognises termination benefits when it is demonstrably committed to either (i) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or (ii) providing termination benefits as a result of an offer made to encourage voluntary redundancy.
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| £ | £ | £ | ||
| 2 | Income from charitable activities | |||
| Housing management | 211,154 | - | 211,154 | |
| National Lottery Community Foundation | - | 118,010 | 118,010 | |
| Postcode Neighbourhood Trust | - | 14,510 | 14,510 | |
| NHS Sheffield CCG - Winter Pressures | - | 11,156 | 11,156 | |
| Awards for All (Big Lottery) | - | 9,689 | 9,689 | |
| Help The Homeless | - | 5,000 | 5,000 | |
| Hobson Charity | - | 3,000 | 3,000 | |
| J G Graves Charitable Trust | - | 3,000 | 3,000 | |
| Sheffield City Council - Tackling Inequalities | - | 5,186 | 5,186 | |
| Other | 14,300 | 8,932 | 23,232 | |
| _ | _ | _ | ||
| £225,454 | £178,483 | £403,937 | ||
| _ | _ | _ | ||
| _ | _ | _ | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Prior year comparison: | ||||
| Smart Steps | ||||
| Housing management | 200,029 | - | 200,029 | |
| National Lottery Community Foundation | - | 144,736 | 144,736 | |
| South Yorkshire Community Fund (Weselyan | ||||
| Foundation) | - | 10,000 | 10,000 | |
| Crisis | - | 5,000 | 5,000 | |
| Tudor Trust | - | 2,000 | 2,000 | |
| Other | 7,256 | 4,313 | 11,569 | |
| _ | _ | _ | ||
| Subtotal | 207,285 | 166,049 | 373,334 | |
| _ | _ | _ | ||
| Personal Transitions Service | ||||
| Tudor Trust | - | 5,556 | 5,556 | |
| ___ | _____ | _____ | ||
| Total | £207,285 | £171,605 | £378,890 | |
| _ _ |
_ _ |
_ _ |
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NOMAD OPENING DOORS
NOTES TO THE FINANCIAL STATEMENTS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
| Total | Total | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| 3 | Expenditure on charitable activities | |||
| Direct costs: | ||||
| Staff costs | 121,895 | 125,092 | ||
| Project costs | 13,425 | 19,749 | ||
| Housing expenses | 92,599 | 78,217 | ||
| Support costs (see note 4) | 182,310 | 185,326 | ||
| Governance costs (see note 4) | 2,100 | 4,020 | ||
| _ | _ | |||
| £412,329 | £412,404 | |||
| _ | _ | |||
| _ | _ | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Unrestricted expenditure | 242,018 | 216,163 | ||
| Restricted expenditure | 170,311 | 196,241 | ||
| _ | _ | |||
| £412,329 | £412,404 | |||
| _ | _ | |||
| _ | _ | |||
| Personal | ||||
| Smart | Transitions | |||
| Steps | Service | Total | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Prior year comparison | ||||
| Staff costs | 125,092 | - | 125,092 | |
| Project costs | 19,652 | 97 | 19,749 | |
| Housing expenses | 78,217 | - | 78,217 | |
| Support costs | 171,085 | 14,241 | 185,326 | |
| Governance costs | 4,020 | - | 4,020 | |
| _ | ______ | _ | ||
| £398,066 | £14,338 | £412,404 | ||
| _ _ |
__ ____ |
_ _ |
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
- 4 Analysis of governance and support costs
| Support | Governance | Total | |||
|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | |||
| Basis of apportionment | £ | £ | £ | ||
| Staff costs | Time spent | 135,841 | - | 135,841 | |
| Office costs | Floor area | 12,849 | - | 12,849 | |
| Accommodation | Floor area | 33,620 | - | 33,620 | |
| Accountancy | Governance | - | 2,100 | 2,100 | |
| _ | _____ | _ | |||
| £182,310 | £2,100 | £184,410 | |||
| _ | _____ | _ | |||
| _ | _____ | _ | |||
| Prior year comparison | |||||
| Support | Governance | Total | |||
| 2021 | 2021 | 2021 | |||
| £ | £ | £ | |||
| Staff costs | Time spent | 122,688 | - | 122,688 | |
| Office costs | Floor area | 28,244 | - | 28,244 | |
| Accommodation | Floor area | 34,394 | - | 34,394 | |
| Accountancy | Governance | - | 2,100 | 2,100 | |
| Legal fees | Governance | - | 1,920 | 1,920 | |
| _ | _____ | _ | |||
| £185,326 | £4,020 | £189,346 | |||
| _ | _____ | _ | |||
| _ | _____ | _ | |||
| 2022 | 2021 | ||||
| £ | £ | ||||
| 5 | Net income for the | year | |||
| This is stated after | charging:- | ||||
| Accountant's remuneration | |||||
| - accounts preparation | 1,800 | 1,800 | |||
| - independent | examination | 300 | 300 | ||
| Depreciation | 3,496 | 3,104 | |||
| _ ___ |
_ ___ |
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| 6 | Analysis of staff costs, trustee remuneration and expenses, and the cost | ||
| of key management personnel | |||
| Wages and salaries | 227,645 | 217,478 | |
| Employer's national insurance | 15,150 | 14,304 | |
| Employer's pension contributions | 12,540 | 11,813 | |
| Redundancy | - | 1,459 | |
| Training and other staff costs | 2,401 | 2,726 | |
| _ | _ | ||
| £257,736 | £247,780 | ||
| _ | _ | ||
| _ | _ | ||
| Allocated as follows: | |||
| Charitable activities | 121,895 | 125,092 | |
| Support costs | 135,841 | 122,688 | |
| _ | _ | ||
| £257,736 | £247,780 | ||
| _ _ |
_ _ |
No employees had employee benefits in excess of £60,000 in either year. The average number of staff employed was 10 (2021 - 8).
The key management personnel of the charity comprise the Trustees, Chief Executive, the Head of Services and the Finance & Funding Manager (Business Support Manager). The total employee benefits of the key management personnel were £107,775 (2021 - £94,742).
The trustees were not paid or received any other benefits from employment with the charity in either year. No expenses were reimbursed to trustees in either year.
7 Related party transactions
There were no related party transactions requiring disclosure in either year.
8 Tangible assets
| Tangible assets | |
|---|---|
| Office | |
| equipment | |
| £ | |
| Cost | |
| As at 1st April 2021 | 16,939 |
| Additions | 161 |
| ______ | |
| As at 31st March 2022 | 17,100 |
| ______ | |
| Depreciation | |
| As at 1st April 2021 | 6,197 |
| Charge for the year | 3,496 |
| _____ | |
| As at 31st March 2022 | 9,693 |
| _____ | |
| Net book value | |
| As at 31st March 2022 | £7,407 |
| _ ___ |
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| 9 | Debtors | ||
| Trade debtors | 11,111 | 16,213 | |
| Prepayments and accrued income | 20,267 | 13,176 | |
| Amount due from subsidiary undertaking | 5,801 | 10,801 | |
| ______ | ______ | ||
| £37,179 | £40,190 | ||
| ______ | ______ | ||
| ______ | ______ | ||
| 10 | Creditors - amounts falling due within one year | ||
| Trade creditors | 11,404 | 13,035 | |
| Taxation and social security | 4,157 | 4,704 | |
| Deferred income | 9,241 | 2,399 | |
| Other creditors and accruals | 5,752 | 9,238 | |
| ______ | ______ | ||
| £30,554 | £29,376 | ||
| ______ | ______ | ||
| ______ | ______ | ||
| 11 | Deferred income | ||
| Balance at 1st April 2021 | 2,399 | 11,391 | |
| Released to income from charitable activities | (2,399) | (11,391) | |
| Amount deferred in the year | 9,241 | 2,399 | |
| _____ | ______ | ||
| Balance at 31st March 2022 | £9,241 | £2,399 | |
| _____ | ______ | ||
| _____ | ______ | ||
| 12 | Analysis of net assets between funds | ||
| Total funds are invested as follows |
| Analysis of net assets between funds Total funds are invested as follows |
|||
|---|---|---|---|
| General | Restricted | Total | |
| funds | funds | funds | |
| £ | £ | £ | |
| Tangible fixed assets | 6,288 | 1,119 | 7,407 |
| Net current assets | 212,622 | 15,424 | 228,046 |
| _ | ______ | _ | |
| Net assets | £218,910 | £16,543 | £235,453 |
| _ | ______ | _ | |
| _ | ______ | _ | |
| Prior year comparison: | |||
| Tangible fixed assets | 9,063 | 1,679 | 10,742 |
| Net current assets | 169,498 | 6,692 | 176,190 |
| _ | _____ | _ | |
| Net assets | £178,561 | £8,371 | £186,932 |
| _ _ |
_ ___ |
_ _ |
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NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
13 Analysis of movements in charity funds
| Analysis of movements in charity funds | ||||
|---|---|---|---|---|
| Balance at | Movement in resources | Balance at | ||
| 1st April | Incoming | Outgoing | 31st March | |
| 2021 | 2022 | |||
| £ | £ | £ | £ | |
| Unrestricted funds: | ||||
| General funds | 178,561 | 282,878 | (242,529) | 218,910 |
| _ | _ | _ | _ | |
| Restricted funds: | ||||
| National Lottery Community Foundation | - | 118,010 | (118,010) | - |
| Crisis | 3,057 | - | (3,057) | - |
| Postcode Neighbourhood Trust | - | 14,510 | (14,510) | - |
| NHS Sheffield CCG - Winter Pressures | - | 11,156 | (11,156) | - |
| Awards for All (Big Lottery) | - | 9,689 | (7,267) | 2,422 |
| Help The Homeless | - | 5,000 | (5,000) | - |
| Money Saving Expert | - | 5,298 | (1,325) | 3,973 |
| Hobson Charity | - | 3,000 | (1,842) | 1,158 |
| J G Graves Charitable Trust | - | 3,000 | (3,000) | - |
| Sheffield City Council Tackling Inequalities | ||||
| Fund | - | 5,186 | - | 5,186 |
| Frontline Network Ideas Fund | 1,560 | - | (875) | 685 |
| Other | 3,754 | 3,634 | (4,269) | 3,119 |
| _____ | _ | _ | ______ | |
| 8,371 | 178,483 | (170,311) | 16,543 | |
| _____ | _ | _ | ______ | |
| Total funds | £186,932 | £461,361 | £(412,840) | £235,453 |
| _ _ |
_ _ |
_ _ |
_ _ |
Description, nature and purposes of restricted funds
National Lottery Community Foundation - Grant funding to support the Smart Steps programme which assists 18-35 year olds to move into private rented accommodation or into training flats to prepare for independent living in private rented accommodation.
Crisis - Grant received to cope with telephone interpreting costs and increased staff costs during Covid. Postcode Neighbourhood Trust - Funding for staff salaries.
NHS Sheffield CCG - Winter Pressures - Nomad Opening doors received funding to support our Progression and Development Officer's salary for 3 months whilst also funding counselling sessions for clients.
Awards4All - Awards4All supported Nomad by funding for staff wages to allow the project to continue to make an impact on homelessness in Sheffield.
Help The Homeless - Help the Homeless funded us to provide new furnishings in two of our properties, this included things like bedroom furniture and rugs for the homes.
Money Saving Expert - Funding for client workshops.
Hobson Charity - Nomad received funding for different educational gaining courses for clients.
J G Graves Charitable Trust - JG Graves supported Nomad by providing funding that allowed us to provide educational training courses to our clients.
Sheffield City Council Tackling Inequalities Fund - SCC Tackling Inequalities were able to provide funding for staffing costs to Nomad.
Frontline Network Ideas Fund - Nomad received funding from Frontline Network Ideas Fund to support mental health support activities.
Page 17
NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
13 Analysis of movements in charity funds (continued)
Prior year comparison:
| Prior year comparison: | ||||
|---|---|---|---|---|
| Balance at | Movement in resources | Balance at | ||
| 1st April | Incoming | Outgoing | 31st March | |
| 2020 | 2021 | |||
| £ | £ | £ | £ | |
| Unrestricted funds: | ||||
| General funds | 131,205 | 263,740 | (216,384) | 178,561 |
| _ | _ | _ | _ | |
| Restricted funds: | ||||
| Smart Steps | ||||
| National Lottery Community Foundation | 22,365 | 144,736 | (167,101) | - |
| South Yorkshire Community Fund (Weselyan | ||||
| Foundation) | - | 10,000 | (10,000) | - |
| Crisis | - | 5,000 | (1,943) | 3,057 |
| Tudor Trust | 2,000 | (2,000) | - | |
| Other | - | 4,613 | (859) | 3,754 |
| ______ | _ | _ | _____ | |
| 22,365 | 166,349 | (181,903) | 6,811 | |
| ______ | _ | _ | _____ | |
| Personal Transitions Service | ||||
| Tudor Trust | 1,870 | 5,556 | (7,426) | - |
| Sheffield City Council Tackling Inequalities | ||||
| Fund | 5,247 | - | (5,247) | - |
| Frontline Network Ideas Fund | 3,225 | - | (1,665) | 1,560 |
| ______ | _____ | ______ | _____ | |
| 10,342 | 5,556 | (14,338) | 1,560 | |
| ______ | _____ | ______ | _____ | |
| Total restricted funds | 32,707 | 171,905 | (196,241) | 8,371 |
| ______ | _ | _ | _____ | |
| Total funds | £163,912 | £435,645 | £(412,625) | £186,932 |
| _ _ |
_ _ |
_ _ |
_ _ |
Page 18
NOMAD OPENING DOORS
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
- 14 A detailed breakdown of the 2021 statement of financial activities between unrestricted and restricted funds is as follows:
| funds is as follows: | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| £ | £ | £ | |
| Income from: | |||
| Donations | 6,851 | 300 | 7,151 |
| Core grants | 49,529 | - | 49,529 |
| Charitable activities: | |||
| Smart Steps | 207,285 | 166,049 | 373,334 |
| Personal Transitions Service | - | 5,556 | 5,556 |
| Investment income: | |||
| Bank interest receivable | 75 | - | 75 |
| _ | _ | _ | |
| Total income | 263,740 | 171,905 | 435,645 |
| _ | _ | _ | |
| Expenditure on: | |||
| Raising funds | 221 | - | 221 |
| Charitable activities | |||
| Smart Steps | 216,163 | 181,903 | 398,066 |
| Personal Transitions Service | - | 14,338 | 14,338 |
| _ | _ | _ | |
| Total expenditure | 216,384 | 196,241 | 412,625 |
| _ | _ | _ | |
| Net movement in funds | £47,356 | £(24,336) | £23,020 |
| __ ____ |
__ ____ |
__ ____ |
Page 19