Charity registration number 1080260 (England and Wales) Company registration number 03930855 NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS LEGAL AND ADMINISTRATIVE INFORMATION Trustees TWJAdams D A Billson W L Boom)an MACOX P V Phillips P J Vwurs Charity number (England and Wales) 1080260 Company number 03930855 Registered offl 3 SL Giles Terrace Northampton NN128N Auditor Cottons Acc(￿ntsnts LLP 1 Billing Road Northampton United lQngdom NN1 SAL Bankers Uoyds Bank plc 2 George Row Northampton NN1 1DJ NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS CONTENTS Page Trustees. rep)rt Independent auditorfs report Statement of financFal adivities Summary Income and expendi￿re account Balance sheet 10 Statement of cash ilows 11 Notes to the finanoal statements 12-22 NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The twstees present their annual report and financÈal staternents for Ihe year ended 31 Marth 2024. The financial statements have been prepa￿0 Ni accordance with the accounting policies set oui in note 1 to the financial statements and comply with the dwritsble CoMpan￿S Memorandum and Artides of Association, the Companies Act 2006 and "Accounb"ng and Rerxyting by Charibes.. Statement of Reo)mmendèd Pr8Ctice applicable to charities preparin9 their accounts in accordan(% wrth the Fmancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (effective 1 January 2019)- Objectives and adivities Pu Our charilys purposes as gel out in 1h8 Objects" contsined in the c4)mpanls memorandum of associatM?n are to: Prevent and ￿lIeve hardship r￿d arvj distress amongst those who are homeless Educate the public conceming the hcrfrdess The aims of our charity are lo provide tempornry acccKnmodalion to any person homeless in Northampton and lo provide facilities. or access to suth facilities. as will improve the (x)ndilions of lrfe for homeless people. The focus of our worf( Our main objectives for the year continued to be thè provision of a safe home with support from our experiencEd Staff who also ensure that the customers obtain their entrtlement to finanaal beneffts. Our staff also 5UPPOrt the customers in engaging with the support and advic& provided by other agenaes dealing with drug and alcohol abuse as well as mental issues. We continue to support ￿￿tOmerS to move into appropriate independent living arrangements which can be into our own single ocojpancy flats or into propefts.es provsded by the local authorities or other onJanisalions. How our activities delivor publlc benefft Our main activities and who we ty to help a￿ descrited below. AJI our charitable activibes focus on the prevention of homelessness by the provision of a &ife home supported by our experienced stsff. These activrties are undertaken to further our charitable purposes for the public benefiL The trustees have paid due regard to guidance issued by the Chaiity Commission in deciding what activities the ¢haiitable company should undertake. In detemining thesè objectives and athrtses. the trustses have regard lor the Charity Commission's guidance on public beneffiL Achlevements and PerfOrn￿nce During the year to 31st Marth 2024 the demand for accyjmmodation o)ntinuèd to incxeasÈ for those who are homeless. We conlinue to actively engage with West Northamptonshire Counal in developing fiJbJre strategies dealing witri Homelessness and our exlensive and long experience is an invaluable pc¥)l of knowledge for us to draw on in many meetings that our staff have viith them. We also work with the council by providing support for sex workers specifically on issues rdating to addiction. ￿￿￿tal heahh. sexual and physical health together wtth the mana9emerrt of their tenancies. The Trustees view Ihese achtevemerrts as a signfficant public benefft. Wtth effect from 1st April 2023 we We￿ awarded a Iwo year contract by West Northamplonshire Council for the provision of housing and support from our staff s[￿ficallY for ex-offenders. We have been able to achieve well over the targets given to us for pla(ing ex-offenders into supported accommodation. With effECt from 1st April 2024 we were awarded a twelve Month contract by West Northamptonshire Council as part of their Rough Sleeping Initiative wÈth move-on and prevention targets foi twenty inknenttons in the year. We We￿ also awarded fvnding for another twelve month initiative by the Council for their Changing Ltves programme to prowde tenancy related support. We have been able to obtsin six houses with accommodation for knty-eight customers. NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review We achieved a very satisfactory increase in wr income to £1.987.151 (2023 - £1.605,779> and an increase in our net income to £329,821 for the year to 31st March 2024 {2023- £89.1881. Wrth our post&ve cash flow the Trustees plan to purchase additional properties suitabl8 for multi or singie orxupancy within the expanded area now covered by West NorthamptoTrshire Council. We have a strong financial posilK)n with our total funds at £1.049,332 at 31st hlarth 2024 (2023 - £719,511). Under the Memorondum olArticles of Association, the ChaT¥ty has the r￿Wer to invest in any way the Trustees wish. We have a strong liouidty position and. as stated in the Financtal Review, it is the Trustees intention to invest in suitable housing during the nexi year to accornmodate the homeless in our care. Neither the Charity. nor any person on behalf of Ihe charity, cani&J out any fvndraising from the public during the year. Struclurej governance and management ovemin cuments The organisation is a company limited by guarantee govemed by its Memorandum and Artides ofAssociation dated 22nd February 2QOO. It is registered as a charity with the Chaiity Commission. The Directorsrrrustees are the only membors and each has agreed to ￿ntrIbute up to £10 in Ihe event of the Charity winding up. The trustees, who are also the directors for the Purpose of company law, and wllo served during the year and up to the date of signature of the financial statements were: TWJAdams D A Billson W L Boorman MACOX P V Phillips p J Irigurs Recruitment and ointrnent of Mana ment mmittee The Trustees, who are also the Directors for the PUTP05e of Company Law. and seNed during the year and up to the date of Signatu￿ of the financial statements a￿ listed in the Legal and Administrative Infomation section of this reporL Atl TrusteesiDirectors are elected to serve for a per￿d of three years after which they must be re-elected at the next Annual General Meeting. We are always seeking to strengthen our Board of Trustees and to recTUrt people with a variety of backgrounds. We look for member5 V￿th past or present invofvement in finan￿. fvndrd1￿ng. local govemmenL police, the probation seNice. the Church, the Law and anyone else vtho can bring their knowledge and experien¢e to help in the administr2tion of the Charity. The Trustees Management Committee. whi¢h can have an unlimited number of member5, administers the Chaiity. The Board meets formally six times a year to rewew financial results and perfonnance of all aspects of the Charity. The Trustees meet at other times during the year when necessary to discuss and decide on any specific subject or issue that may arise. A Manager is appointed by Ihe Trustees to manage Ihe day-t￿aY operations. The Manager has delegated airthority, TrNtthin Ihe terrns of delegation approved by the Trustees. for operational matters, employment of staff and acttvtties relating to the Charity5 objects. NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Mana ment The Trustees are aware of their respowbilty to assess and manage the risks that inevitsbly arise in an undertaking such as ours. An extensive and comprehenstve risk assessment che1￿1￿$t is in force and Continuousiy reviewed by both the Manager and Tntstees. The main risks that are identified and reviewed are in matters Con￿rned wrlh: . Management and governan￿. loss of key staff and staff Fwforrnance: Financial ￿ntrOl, budgetary control. support funding and ￿sources. Rent levels. standards of accommodation and destruction of property. . Change in L￿1 Authority policies cfjnceming htxnelessness: Health and safety prOtO￿ls. The Charity has a close working relationship with an incre￿ng number of landlords and with the depathents of the Local Authorities who are concemed with the homeless and with the local police force. Statement of trustees. responslbilitles Thè trustees, who are also the directo￿ of Northampton Assoc*ation forAccommodation for Single Homeless for Ihe purpose of company law. are responsible for preparing the Trustees, Report and the financial ststements in accordaD¢e with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practtce). Audltor In accordance with the CoMpan￿S articles, a resolution proposing that Cottons A¢¢ountants LLP be reappointed as auditor of the company wll be put at a General bAeeting. The trustees, report was appri)ved by the Board of Trustees. MACOX Trustee Dale". 12" NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NORTHAMPTON ASSOCIATION FORACCOMMODATION FOR SINGLE HOMELESS Opinion We have audited the financial statements of Norlhampton A$￿￿ation forAccommodation for Single Homeless (the 'charitable compan￿) for the year ended 31 March 2024 whith o)mprise Ihe ststement of financial activits'es, the summary income and expenditure accourrt. the balance sheeL the statement of cash flows and notes to the financial statements, including signifi(ant accounting policaes. The financial reporting framework that has been applied in their preparation is appIl￿ble law and United IGngdom Ac£ounting Standards. induding Financial Reporting Stsndard 102 The Finan￿81 Repothng Standard applicable in lh& UK and Rapublic ol Ireland (United lQ'ngdom GeneratlyAccepted Acc¢yJnting Practice). In our opinron. the financial ststernents: give a true and fair view of the state of the charitable CoMpan￿S affairs as at 31 March 2024 and of its incoming resources and applicalion of resources. for the year then ended,. have bèen properfy prep8red in accordance with United Kingdom Generally Accepted Accounting Practice: arKI have been prepared in accordance v17th the reqUI￿rnents of the Companie$ Act 2006. Basls for oplnion We conducted txjr audit in accordance with Intemational Standards on ALMliling (UK) (ISAS (UK)) and applicable law. Our respof)sibilities under Ihose standards are further desryibed in the Auditorfs ￿spon&.￿libeS for the audit ol the financial stalements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the finanual statements in the UK. indudiftg Ihe FRC'S Ethic21 Standard. and we have fulfilled our other ethical responsibilities in accordance ￿th these requirements. We believe that the audit evidenc8 we have obtsined is suffioent and approwiate to prDVKle a basis for our opinion. Conclusions relat6ng to going conc•m In audf(ing the financial statements. we have conduded that the InBtees' use of the going conGem basls of accounting in the preparation of the financ4al ststements is approprlate. Based on the work we have performed. we have not identified any material uncertainties relating to events or Conditions Ihal. ind(vidually or colleclivety. may cast signrfKant doubt on the charitable company's ability to continue as a going concem for a period of at least ￿e1ve months from when the financial stslements are authorised tor issue. Our responsibilities and the responsibli ilies of the trustees with respect to going o)ncem are descrrbed in the relevant sections of this reporL Other infomution The other information ￿MpriseS the information inthded in the annual report other than the financial statements and our auditorf5 rewrt thereon. The trustees are responsible for the other infonT￿tion contsined within the annual report. Our opinion on the financial slaternents does not cover the other infom)ation and we do not express any fomi of assurance condusion thereon. Our ￿pOnsIbIl￿ is to reafj the other infomlation and. in doing so. consider whether the other inf0m1at￿n is materially inconsistent wilh the financial statements or our knowledge obtained in the course of the audtt. or otherwise appears to be materially misstated. If we identify such material In￿nSISten¢1eS or apparent material misstatements. we are required to deternine whether this gives rise to a material misststement in the financial statements themselves. If. based on the work we have performed, we condude that there is a matertal misstatement of this other information, we are Tequired to report that fact. We have nothing to reFort in this ward. NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS INDEPENDENT AUDrroR'S REPORT {CONTINUED) TO THE TRUSTEES OF NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to whith the Charities (Accounts and Reports) Regulations 2008 ￿qui￿ us to report to yw rf, in our opinion". the infonnation given in the financial statements is inrJ)nsistent in any matèrial respect wth the trustees, reporL or sufficient aco)unting records have not been kept or the financial statements a￿ not in ag￿rnent wrth the accounting records," or we have not received all the inf0m￿tion and explanab.ons we rwuire for our audiL Responsibilities of trustees As explained more fully in the statement of trustees. respc￿s1blllties, the twstees. who are aso the directors of the charitable company for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vmv. and for Such internal corrtrol as the trustees de*erniine is necessary to enable the preparation of financial statements that are free from matertal misstatement, whether due to fraud or error. In preparing the ffinancial statements. the trustees are responsible for assessing the charitsble cornpany's ability to continue as a going concem. disdosing, as applicable, matters reiated to going concem and using the going ￿nCern basis of accounting unless the trustees either intend lo liquidate the tharitable company or to cease opetstions. or have no realistic attemative but to do so. Auditor's responsibilities for the audit of the finan¢lal statements We have been 8ppoinled as auditor under section 144 of the Charities Act 2011 and report In accordance with the Act and relevant regulations made or having effect the￿under. Our objectives are to obtain re8sonable assuran￿ about vthether the financaal $18tements as a whole are free from material misslatement, whether due to fraud or error. and to issue an auditoes report that indudes our opinion. Reasonable assuran￿ is a high level of assuran￿ but 15 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when li exists. Misstatements can arise from fraud or error and are considered malerial rf, indrvidually or in the aggregate, they o)uld reasonably be expected to influence the economic decisions of users taken on Ihe basis of those finanoal statements. The extent to which our procedures are capable of detecting irre9￿al￿OS. induding fraud. is detailed below. NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS Irregularilies. induding fraud, are instances of norFcompltan￿ with laws and regulations. We design procedures in line with our responsibilitres, outlined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our wocedures are ￿pable of detecting irregularttles. induding fraud is detailed below: the engagement partner ensured that the engagement team collectively had the appropriate experience, mPetsn￿. capabilities and skills to identify or rewjnise non￿￿lanCe wilti la￿ and regulations: - through discussions with the trustees and olher managemen( and from our commeraal knowledge of the c*￿ri￿$ activities and objecttves. V￿ identtfied the laws and regulations applicable to the charity and focused on specific laws and regulations which we considered may have a direct material effect on the finanual ststements and operations of the charity. These induded charity foundalion conslitutsons, govemance and policy matters and employment legislation: and - we remained alert to instsnces of norpcompliance throughout the audit and assessed the extent of compliance through discussions with management and examination of (k)wmentation. - We assessed the Sus￿Ptib11ty of the tharitys finaniial Staterne￿ to material misstatement and obtained an understanding of how fraud might occur by: making enquiries of management as to where they Conside￿ there was a susceptibilty to fraud and their knowledge of any actual. suspected or alleged fraud: and considering the intemal C£•ntrols in place to mitrgate the risk of fraud and non)me at their fair value when their economic benefit is probabty. it can be measured reliably and the charitable company has control over the item. Fair value is determined on the basis of the value of the gift to the charitable company. For exampie. the amount the charttable company would be willing to pay ￿ the open market for such f2cÈlities and selv1￿. A ¢orresponding amount is recognised in expenditure. No amount ts induded in the financial statements for volunteer timé in I￿8 with the SORP. Where practicable. gifts in ktiid donated for distrilxjlion to the benefic4ari8s of the charitable ￿MpanY are includ8d in donations in the financial siatements upon receipL If it is imprdcbcable to asse5S the fair value at receipt or rf the costs to undertake such a valuation outsveigh any benefts, then the fair value is re(J)gnised as a componenl of donations when it is distrib(rted and an equivalent amount rgcognised as charitable expendrture. Fixed asset gifts in kind are recogni8ed vthen recervable and are induded at fair value. These are not deferred over the life of the asset. Le9aaes a￿ recognised on rec*ipt or otherwise rf the tharitabla r>)mpany has been notified of an irnpending distribution. the amount is known, and receipt is expected. If the amount is not kn¢)wn. the legacy is treated as a contingent asseL Income from government and olher grants are recognised at fair vaue when the (tharitsble company has entillement after any perf0mlan￿ condtltons have been meL it is probable that the income viill be re￿iVed and the amount can be measured reliably. If entifjement is not met then these amounts are deferred. 1.5 Expenditure Expenditure is ￿COgnised On￿ there is a legal or constructive obligation to transfer economic benefit to 8 third paty, it is probable that a transfer of economio benefits wiil be required in settlement, and the arTh)unt of the obligatÉon be measured reliably. Expenditure is classtfied by activity. The costs of each athity a￿ made up of the total of direct costs and shared costs, including SUPP¢)rt costs involved in undertaking each acbvity- Direct costs attributable to a single activity are allocated directy to that acbvity. Shared costs which ￿ntribute to more than one aclivrty and support (x)sts which are not attributable to a single activity are apportioned be￿een tt)ose activities on a basts Consistent with the use of resources. Cerrtral staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the porti￿ of the asset's use. None of the charitablo ¢ompany's support and governan￿ Ixjsts have been identÉfied as relating to the costs of raising funds or other experbdilure so all support Costs are vrewed as relating to tharitable athities. 13- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policiès (Continued) 1.6 Tangible fixed assets Tangible f￿ed assets are initially measured at cost and subsequenty nwsured at cost or valuation, net of depreciation and any impairment bsse& Depreciation is r6cognised so as to write off the o%t or valuation of assets less their residual values over their usefijl lives on the following bases: Freehold land and buildings Fixtures and fftlings Motor vehides Not depre￿ted 30% Reducing balance 30% Reducing balance The gain or loss arisirvj on the disposal of an asset is detemiined as tha differen￿ betsve8n the sale pro¢eeds and the Carr￿ng valu8 of the asseL and ts recognised in the statement of finanaal a¢bvibes. Freehold property. which is propety held for use to enable the charitable (x*mpary to carry out its charitable objeclives. are initialty recognised at cosL which indudes the purchase cost and any dirertty attributable expenditure. Subsequenty they are measured at fair Ydlue al the reporting end date. The Su￿uS or defficit on revaluation is ￿CogniSed in the ststsmenl of financial actiwbes. 1.7 Impairment of fixed assets At each reporting end date. the chaiitable company rewews the caTring amounts of tangible assets to determine whether there is any irrtjication that those assets have suffered an impaiment105s. If any suc* indication exists. the recoverable amount of the asset is estimated in order to determine the extent of tho impairment loss (rf any). 1.8 Cash and ￿$h equivalents Cash and ¢ash equrvalents indude cash in hand, deposits hekl at cail banks, other ShOrt-te￿ liquid investments viith orlginal maturittes of trwee months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charitable company has elected to aP￿Y the provisions of Section 11 '8asic Financial Instruments, and Section 12 '01her Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instrnments are recognised in the dwitable cxmmpanys balan¢￿ sheet when the charitable company becomes paty to the contractttal prowsions of the instDJmenL Financial assets and liabilitses are offsrt with the net amounts pr￿nt•d in the financaal statements, when there is a legally enforceable righ* to set off the recognised amounts and there is an intention to set￿e on a net basis or to realise the asset an(J setlle the liabj'lty simultaneousty. Basic financial assets Basic financial assets, vthith indude debtofs and c£sh and bank balances, are initialty measured at transaction prr¢e induding transadion costs and a￿ subsequently ￿rried at amortised cost using the effective inlerest method Unl￿ the arrangement consbtutes a finanong transaction, where the transaction is measured at the present value of the future receipts discounted at a market rdte of interest Financial assets Classified as Teceivable within one year are not amorlised. -14- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Continued) Basic flnancial liabiliti&s Basic financial liabilities, Ir￿UdIng ￿editOrS and bank loans are inibalty recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instnjment is measured at the present valua of the future payments discounted at a market rate of interest Financial liabilities dassified as payable within one year are not an￿rtIsed. Debt ftnstruments are subsequenty (3(Tied at amortised cos( using the effeciive interest rate metr￿d. Trade credttors are obligations to pay for goods or Servi￿ that have been ao]uired in the ordinary Course of operalions from suppliers. Amounts payable a￿ dassified as curreth liabil￿eS if payment is due within one year or less. If not, they are presented as n0n-cu￿ent liabilittes. Trade creditors are recognised initialty at transaction price and subsequenty measured at amortised cost using the elfecb.ve interest method. Derewnition of financial liabilitl•s Financial liabilities are derecogni*a when the charitable companYs o)ntraclual obligalÉons expire or are discharged or cancelled. 1.10 Taxation The charity is an exempt tharrty within the meanlng of sthedule 3 of the Charities Act 2011 and is considered to pass the test set out in Paragraph 1 Schedule 6 Finan(* Acl 2010 and therefore it meels the definition of a charitable ￿MpanY for UK C(Wrati￿ tsx purposes. 1.11 Employee beneffts The cost of any unused holiday entitlement is reco9ntsed in the period in vthith the employee's seJvice5 are received. Termination beneffts are reL￿gnised irnmediately as an expense vthen the charitable ¢ompany is demonstrably committed to tenninate the employment of an empbyee or to provvje ternination benefits. 1.12 Retirnm•nt beneflts Payments to defined contribution ￿tirement benefil schemes are charged as an expense as they fall due. 1.13 Leases Rentals payable and receivable under ope￿Ing leases are charged to the SOFA on a straight line basis over the period of the lease. Critical accountlng estimates and judgements In the applic*ion of the chaiitable companVs accounling policies. the truslees are required to make judgements. esb'mates and assumplions alJ)ut the carying arnount of assets and liabilities that are not readily appa￿nI from other sources. The estimates and asKKiated assumptions are based on histoncal experience and other factors that are considered to be ￿levanL Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estirnales are recognksed in the period in whith the estimate ts revised where the revision affects only that period. or in the period of the revision and future periods where the ￿Vision affects bolh ￿Trent and fijture periods. CTitical judgements Property valuation The key estimate in these financial ststements is the fair value of freehold propety. 15- NORTHAMPTON ASSOCIATION FORACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted Unrestricted funds fund5 2024 2023 Donations and gtfts 1,103 3,689 Income from charitable aciivities Unrestrlcted tunds Unrestricted funds Rent and seNice charges Grant income- West Nthmptcnshire Council 1.832.462 153,586 1.563.342 38,748 1.986.048 1,602,090 Incom• investments Unrestricted Unrestrlcted fvnds funds 2024 2023 Interest receivab 12,298 2,822 16- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable acllvittes Charitsble Charitable Expenditure Expenditure 2024 2023 Stsff costs (see note g) Rent Light and heat Council lax and water rdtes Insurance Property repairs and deaning Resident support costs Motor and travel 461,727 361.391 1.044.579 1.003.525 17.388 14.348 18.453 16,256 18.388 14.534 22.417 22.671 2.718 3.482 11,187 11.748 1.596.857 1,447.955 Share of support costs (see note 7) Share of govemance costs (s•e note n 45,049 22,826 49,926 16.035 1,664,732 1,513.916 Support costs allocated to a¢tivitws 2024 2023 Office and garage rent Office light and heat Telephone and office Repairs and renewals Computer expenses Sundry expenses DepreciatlOD of fixed assets Loss on scrapping of tangible assets Govemance costs 353 5,695 6.528 7,498 13,219 7.326 4,429 674 6,929 6,265 12.529 9,692 7,408 5,031 1.398 16,035 22,827 67.875 65.961 2024 2023 Governanee Costs comprise: Audrt and aceountancy fees Legal and professional 10.2(Xi 12.627 11.900 4.135 22.827 16,035 17- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to athilies (Continued) Govemance costs indudes payments to the aUrfrto￿ of£102fX)12023- £9.900) for a￿JIt fees. Trusteos None of the tnJstees (or any persons c4￿ne{￿l v￿th them) recetved any remuneration or beneffts from the charitable company during the year. Employees The 8verage monthty number of employ88s during the year was: 2024 Numbfrr 2023 Number 14 13 Employment ￿$ts 2024 2023 Wages and salaries Social security costs Other pension I￿sts Temporary agency stsff Staff advertising and training 362,914 29.756 17.801 36,349 14,907 298,692 23,700 13.736 9,578 15.685 461,727 361.391 There were no employees ￿Ose annual remuneration was more than £60.000. 10 Othèr expenditure Unrestricted Unrestricted funds funds 2024 2023 Financing costs 4,896 5.497 18- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangible fixed assets Fr••hold land Fltsres and and bulldings ffttings Totsi vehl¢le$ Cost or vajualion At 1 April 2023 Additions 550.000 32.947 2,956 15.056 598,003 2,956 At 31 March 2024 550,000 35.903 15.056 600,959 Depreciation and impainent At 1 April 2023 Depreciation charged in the year 21.771 4,240 14,556 190 36,327 4.430 At 31 March 2024 26.011 14,746 40.757 Carrylng amou At 31 March 2024 550.000 9.892 310 560,202 At 31 March 2023 550.000 11,178 499 561,677 Land and building$ with a earying amount of £550,000 were revalued at 31 March 2024 by the board of trustees. on the basis of market value. The valuation confoFms to International Valuation Standard5 and was based on recent market trarwctions on ann's18ryth terns for similar properties. The historical cost for both properties. purchased in 2019 and 2021, totals £534.792. The revaluation surplus is disdosed in the statement of finan¢ial position. 12 Debtors Amounts talling due vthhin one Y￿r. 2024 2023 Trade debtors Other debtors Prepayments and aoxued income 135.718 3.428 13.246 79.890 4,023 13.489 152.392 97.402 -19- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Creditors: amounts falling due within one year 2024 2023 Notes Bank loans Other taxation and social Se￿rity Deferred In￿Me Trade creditor Other creditors Accruals and deferred income 15 16,004 8.830 132,084 23.181 17,044 181,355 15.444 7.804 16 17.570 30.221 155,760 378,498 226,799 14 Cr•ditors: amounts falling due after more than one year 2024 2023 Bank loans 15 109.369 125,373 15 Loans and overdrafts 2024 2023 Bank loans 125.373 140,816 Payable within one year Payable after one year 18,004 109,369 15,443 125,373 The lorKJ-temi loan is a mortgag8 which vras used to partially fiJrKI the purchase of 3 St. Giles Terrace. this is secured by fixed and floating charges over Ihe property arKI the undertaking of the charitable company. 16 Deferred Ineome 2024 2023 Other deferred In￿me 132.084 Deferred income is induded in Ihe financial statements as follows: 2024 2023 Deferred income is induded within: Current liabiltlies 132,084 NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retiremenl benefft schemes Defined contribulion schemes 2024 2023 Charge to profft or loss in respect of defined Contributi￿ schemes 17.801 13,736 The tharstsble company operates a defined corrtribution pension sd)eme for all qualifwng employees. The assets of the scheme are held separately from those of the charitable company in an independently admtnistered frjnd. 18 Unrestricted funds The unrestricted funds of Ihe thartty comprise the unexpended balances of donations and grants which are not subjert to speryfic Cond￿On$ by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestrtctsd funds by the trustees for speufic purposes. At 1 Aprll 2023 Incoming resources Resources At 31 March expended 2024 Generdl funds 719.511 1.999.449 (1.669,628) 1.049.332 Prevlous yoar. At 1 April 2022 Incoming resources Rosources At 31 March expended 2023 General fvnts 630.323 1,608.601 (1.519,413) 719.511 19 Operating léase ¢ommilments At the reporting end date the charrtable company had outstanding ￿)MMitn?e￿ts for fijture minimum lease payments under non-cancellable operating leases, vthith fall due as follo¥Ys: 2024 2023 Within one year Between and fve years 32,731 5.504 31.275 35.184 38,235 66,459 Lessor The operating lease commitment represents amounts payable for the lease of a propety from Northampton Pathership Home5, which is used to house a number of the the charitable wmpanY5 Customers. This lease runs lo 21 May 2025. charges are subject to thange in line with the Local Housing Allowan￿ for shared accommodatton. 20 Related party transactions There were no disdosable ￿lated paty trdnSac￿ns during the year (2023- none). -21- NORTHAMPTON ASSOCIATION FOR ACCOMMODATION FOR SINGLE HOMELESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of changes in net funds At l Awil 2023 Cash flowsAt 31 Mareh 2024 Cash at bank and in hand 412.604 412,001 824.605 Loans falling due wrthin year Loans falling due after more than one year (15.443) {125,373) {561) 16.004 (16,004) (109.369) 271,788 427,444 699,232 Cash generated from operations 2024 2023 Surplus for the year 329,821 89,188 Adjustrnents for. Investrnent income recognised in statement of financial a¢Aivities (Gainyloss on disposal of tangible fred assets Depréciation and impaimient of tangible fred assets (12,298) (2,822) 1.398 5.030 4,430 Movements in working capR¥". (Increase) in debto Increase in creditors Increase in deferred inc4)me {54,990) 19.055 132,084 (7,623) 34.478 Cash genorated from operations 418.102 119,649 23 Auditorfs Ilabillty limitation agreement Upon appoinlment of Cottons Accountants LLP as audith. Ihe charitaNe