Company registration number: 03928387 Charity registration number: 1080963
Somewhere To Go Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 May 2021
Somewhere To Go Limited
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 9 |
| Independent Examiner's Report | 10 to 11 |
| Statement of Trustees' Responsibilities | 12 |
| Statement of Financial Activities | 13 to 14 |
| Balance Sheet | 15 to 16 |
| Notes to the Financial Statements | 17 to 32 |
Somewhere To Go Limited
Reference and Administrative Details
Trustees K Speller D A Dennis Mrs M V U Clark A S Rice D Heley N G Hoare B L Edwards J Codd Charity Registration Number 1080963 Company Registration Number 03928387 The charity is incorporated in England and Wales Registered Office 4A The Boulevard Weston-super-Mare Somerset BS23 1NA Independent Examiner Four Fifty Partnership Chartered Accountants 34 Boulevard Weston-super-Mare Somerset BS23 1NF
Page 1
Somewhere To Go Limited
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 May 2021.
Structure, governance and management
Nature of governing document
Somewhere To Go Limited is a limited company and a company limited by guarantee. The maximum liability of each member is limited to one pound (£1). At 31 May 2021 the charity had 12 trustees. Somewhere To Go Limited is governed by its memorandum and articles of association.
Recruitment and appointment of trustees
Trustees are elected from serving co-opted members of the Board by the members of the charity.
Somewhere to Go Limited is run by a board which is made up of trustees and co-opted members. The trustees are also directors under company legislation. All board members are unpaid.
The aim is to have a wide range of skills and experience in this group and new members are carefully selected to ensure that this happens. Some co-opted members are invited to become trustees as vacancies arise.
Induction and training of trustees
New trustees are supported by existing trustees and staff as necessary for them to achieve the level of effectiveness required.
The Board confirms the strategic direction of the charity and the policies underpinning it and regular meetings take place at which reports are presented so that performance can be monitored.
The delegation of the day to day control has been given to the Day Centre Manager and the Night Assessment Centre Manager, with a Board Trustee as their line manager.
Risk management
The Trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 2
Somewhere To Go Limited
Trustees' Report
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. In particular the trustees consider how planned activities will contribute to the aims and activities they have set.
Objectives and activities
Objects and aims
The charity’s objects and aims are to:
-
Relieve poverty and distress among the most disadvantaged in the community.
-
To provide a space where people feel welcome and comfortable.
-
To create an environment which will enhance self worth and self-esteem.
-
To offer nourishing food, clothing and other activities to meet the needs of their guests.
-
To facilitate access to medical and welfare services.
-
To help guests with their housing and other benefit needs and to offer information, advice and help as necessary.
Objectives, strategies and activities
Somewhere to Go was set up over 20 years ago to provide, literally ‘somewhere to go’ for homeless and vulnerable, disadvantaged people: a warm, safe refuge, hot food, showers, clean clothing and a listening ear. We work with some of the most vulnerable and isolated people in our community: people experiencing daily hardship, cold in winter, hunger, isolation, loneliness, exclusion and deprivation. We provide a daytime refuge and sanctuary to people in housing crisis, sleeping rough or in precarious and sometimes unsafe temporary accommodation. We provide a safe sanctuary in the day with friendly staff and volunteers in a drug- and alcohol-free space.
The Somewhere to Go environment provides a huge benefit to our guests who would otherwise be in doorways, woods or parks in our town centre and surrounding area and at risk of abuse from those that would prey on them.
Our ‘wrap around services’ and outreach for our guests include Addaction (We are with You) Sirona Nurses, YMCA NSC Housing Advice and Key Steps. We also host meeting appointments with Housing Associations and our guests.
Page 3
Somewhere To Go Limited
Trustees' Report
Somewhere to Go is also an address for those suffering homelessness for DWP, an email address and we can arrange a simple bank account with Lloyds Bank for our service users so we can complete the circle of (Address, Bank account, and communication) which enables service users then to move on with potential employment.
We rely heavily on volunteers, many of whom were themselves initially homeless and who have managed to find accommodation, stabilise their lives and who are using volunteering as a route back into being employable, getting references and making a new start.
Day Centre
Somewhere to Go has run a day centre on Mondays, Wednesdays and Fridays for 20 plus years.
We are pleased to say that with extra funding from the Rough sleeping initiative we can now open for 5 days per week. We have an average of 6 volunteers per session. Attendance is on average between 25 and 40 people, a little less on Thursdays and Tuesdays as Emanual Church (Tuesdays) and Victoria’s Kitchen (Thursdays) provide a lunch on those days, we in turn provide a breakfast instead.
Night Assessment Centre
We employed three staff members of the Night Assessment Centre during the period June 2019 to March 2020 when unfortunately, Covid-19 meant that all shared space night shelters had to close, staff were kept on until it became evident that night shelters of the type we had operated would not open in the medium term, when most staff were reluctantly released from our service in this period and one staff member had a position repurposed for future projects.
All rough sleepers have been housed in Bed and Breakfast type accommodation during this period and many have been housed in more permanent accommodation, meanwhile our Day Centre remained open with a Covid-19 proof system of meal preparation and distribution.
Page 4
Somewhere To Go Limited
Trustees' Report
Severe Weather Emergency Protocol (SWEP)
North Somerset Council for the second year utilised the Somewhere to Go facility as an emergency shelter for rough sleepers during extreme cold weather.
The “Severe Weather Protocol” is not just for extreme cold weather but can be used for extremes which can include storm, flood or any other disaster that may need an emergency facility for sanctuary and protection of human life. Somewhere to Go is happy to have our facility pressed into service for any circumstance where it can be of use.
We are pleased to say that our facility was not needed during this financial period.
Volunteers
Somewhere to Go is really appreciative of all the volunteers that work tirelessly for the day centre and night services – there are some volunteers who have been working with the day service since it opened over 20 years ago. They add huge value and bring a wealth of experience and caring to guests who use one or both of our services.
Day Centre Volunteers:
During this period the day service was open for 5 days each week producing food for a total of 265 days with an additional 5 days over the Christmas period where we hosted ‘Comfort at Christmas’ which has been run by Jon Codd our chairman for the last 23 years. The hours delivered increased to 8,435 in the year. This equates to an average cost at minimum wage of £8.90 to £75,070 if the staff were paid staff. We cannot thank our staff enough during this awful pandemic that they continued, indeed increased the hours, to make sure those in poverty and deprivation were still fed and cared for.
Financial review
Policy on reserves
At the end of the financial year the charitable company had total reserves of £345,796 (£71,371 unrestricted and £274,425 restricted including a property value of £92,450). The reserves are considered adequate and are sufficient to cover most short term eventualities.
Page 5
Somewhere To Go Limited
Trustees' Report
Major Changes
The year has brought some changes to our property portfolio with the acquisition of the leases of the two shops below our day centre. While Somewhere to Go Charity held the freehold of the entire property the shops were owned on leases and sub-leases. The owner of the leases decided to sell the leases and the board decided at an extraordinary meeting to purchase the leases from the leaseholders for £80,000. It is to be noted that the leases were offered in previous years for £300,00, £200,000, and last year for £150,000. With declining rents in most town centres, it was prudent to wait but also important to purchase to secure our future base for operations.
Rental of one unit, after refurbishment, has been achieved for £13,500pa which more than covers the borrowing to enable the lease purchase. Unit 2 will be refurbished to serve as an improved Day Centre in due course.
Principal funding sources
Donations and grants from Local Churches and religious organisations continue to be a principal source of funding. We receive letting income from the housing charity Keysteps and until the Covid Lockdown the Multicultural Friendship Society, and during the period rental from Second Step Charity for the Safe Haven Project.
This year with the closure of the Night Assessment Centre (NAC) due to the COVID pandemic, there has been a decrease in revenue funding from North Somerset Council, and DWP funding for housing benefit element of Universal credit for those staying with us.
Public donations are down from previous years, however most regular donors’ monthly contributions are still being made.
The day centre manager is partly paid by the Diocese of Bath and Wells and are not included in these accounts; we are grateful for their continued support.
Page 6
Somewhere To Go Limited
Trustees' Report
Plans for future periods
Aims and key objectives for future periods
Rental of Unit 1 to Second Step Charity for their Safe Haven (Crisis Café) project was completed during this period and opened in February 2021. The service is a great addition to the Somewhere to Go HUB and this is where we see ourselves in future years. It is, and would be impossible, to be all things to all people, but we are in a position to facilitate other organisations to use our facilities to offer their services.
We envisage the new Day Centre to be a ground floor easily accessible venue open from 9am until 6pm with training in needed skills from IT to food preparation and nutrition.
Self-neglect is a feature of those in need and with this in mind we will work with volunteer hairdressers, podiatrists, nutritionists, and dental services to enable better outcomes for our service users.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: K Speller D A Dennis Mrs M V U Clark A S Rice (appointed 29 September 2020) D Heley (appointed 1 March 2021) N G Hoare (appointed 1 February 2021) B L Edwards J Codd
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Somewhere To Go Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Page 7
Somewhere To Go Limited
Trustees' Report
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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Transition
Somewhere to Go is a Charity in transition to be self-sufficient. While donations from the public, and Church support locally is very welcome, it on its own is insufficient to continue the work that we do to the extent that is necessary.
A transition plan is far from complete as Covid-19 not only has stifled any immediate progress, it has also made completing existing plans for the year much more complex and lengthier.
The Board has changed during this period, with valued members leaving and other joining us in our plans to move forward and transition.
Page 8
Somewhere To Go Limited
Trustees' Report
Word of Thanks
We would like to thank in particular
Richard Nightingale Joe Heslop
Who both served Somewhere to Go as Trustees and have left the charity in a strong position going forward.
Due to Covid-19 we postponed our AGM for 2020 and our 2021 AGM was held in December 2021.
This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 related to small companies.
The annual report was approved by the trustees of the charity on 26 May 2022 and signed on its behalf by:
......................................... B L Edwards Chairman and Trustee
Page 9
Somewhere To Go Limited
Independent Examiner's Report to the trustees of Somewhere To Go Limited ("the Company")
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2021.
Responsibilities and basis of report
As the charity’s 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 Somewhere To Go Limited 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 - matter of concern identified
I have completed my examination. I have identified matters of concern that not all paperwork was available for donations and grants received in the year totalling £50,378. The client has provided information regarding these donations and grants. Paperwork was also not available for all expenses in the year.
I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of Somewhere To Go Limited as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Page 10
Somewhere To Go Limited
Independent Examiner's Report to the trustees of Somewhere To Go Limited ("the Company")
...................................... N J Gravell FCCA FCA Chartered Accountants Four Fifty Partnership
34 Boulevard Weston-super-Mare Somerset BS23 1NF
26 May 2022
Page 11
Somewhere To Go Limited
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Somewhere To Go Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 26 May 2022 and signed on its behalf by:
......................................... B L Edwards Chairman and Trustee
Page 12
Somewhere To Go Limited
Statement of Financial Activities for the Year Ended 31 May 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income 6 Total Income Expenditure on: Charitable activities 7 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 21 |
Unrestricted funds £ 172,920 24,928 7,063 506 205,417 (162,133) (162,133) 43,284 43,284 28,087 71,371 |
Restricted £ - - - - - (12,539) (12,539) (12,539) (12,539) 286,964 274,425 |
Total 2021 £ 172,920 24,928 7,063 506 |
|---|---|---|---|
| 205,417 | |||
| (174,672) | |||
| (174,672) | |||
| 30,745 | |||
| 30,745 315,051 |
|||
| 345,796 |
The notes on pages 17 to 32 form an integral part of these financial statements. Page 13
Somewhere To Go Limited
Statement of Financial Activities for the Year Ended 31 May 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income 6 Total Income Expenditure on: Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 21 |
Unrestricted funds £ 102,494 - 4,258 942 107,694 (97,125) (97,125) 10,569 10,569 17,518 28,087 |
Restricted £ 80,414 107,426 - - 187,840 (155,962) (155,962) 31,878 31,878 255,086 286,964 |
Total 2020 £ 182,908 107,426 4,258 942 |
|---|---|---|---|
| 295,534 | |||
| (253,087) | |||
| (253,087) | |||
| 42,447 | |||
| 42,447 272,604 |
|||
| 315,051 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 17 to 32 form an integral part of these financial statements. Page 14
Somewhere To Go Limited
(Registration number: 03928387) Balance Sheet as at 31 May 2021
| Note Fixed assets Intangible assets 14 Tangible assets 15 Investment property 16 Current assets Debtors 17 Cash at bank and in hand 18 Creditors: Amounts falling due within one year 19 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 20 Net assets Funds of the charity: Restricted Unrestricted funds Total funds 21 |
2021 £ 480 273,357 92,450 366,287 5,022 35,858 40,880 (18,871) 22,009 388,296 (42,500) 345,796 274,425 71,371 345,796 |
2020 £ 640 133,312 92,450 |
|---|---|---|
| 226,402 | ||
| 12,396 85,512 |
||
| 97,908 (9,259) |
||
| 88,649 | ||
| 315,051 - |
||
| 315,051 | ||
| 286,964 28,087 |
||
| 315,051 |
For the financial year ending 31 May 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The notes on pages 17 to 32 form an integral part of these financial statements.
Page 15
Somewhere To Go Limited
(Registration number: 03928387) Balance Sheet as at 31 May 2021
The financial statements on pages 13 to 32 were approved by the trustees, and authorised for issue on 26 May 2022 and signed on their behalf by:
......................................... B L Edwards
Chairman and Trustee
The notes on pages 17 to 32 form an integral part of these financial statements. Page 16
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The charity is a private company.
The address of its registered office is: 4A The Boulevard Weston-super-Mare Somerset BS23 1NA
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The 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 applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Somewhere To Go Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
These financial statements only contain information about the individual entity, Somewhere To Go Limited.
The presentation currency of the financial statements is the Pound Sterling (£). All monetary amounts are rounded to the nearest pound.
Page 17
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
Going concern
The financial statements have been prepared on a going concern basis.
The charity has been significantly affected by COVID-19 during the year, with funding from most sources reducing significantly from March 2020 and with the Night Assessment Centre shared space night shelters having to close from March 2020 due to government lockdown.
During the year, the charity took advantage of government assistance where possible, namely the Bounce Back Loan.
The trustees have taken into consideration the impact of COVID-19 and it has been determined that there is no material uncertainty that casts doubt on the charity's ability to continue as a going concern.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 18
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
Donated goods and services
Where goods, services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be realiably measured, then at the cost to the donor or the resale value of goods that are to be sold.
Investment income
Investment income includes bank interest received which is recognised once the company receives entitlement to the investment income and rental income which is recognised when received and apportioned for the period of which the rental income covers.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Allocated support costs are included within charitable activites and include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Other support costs include costs attributable to the charity's compliance with constitutional and statutory requirements, including independant examination costs and legal fees incurred.
Volunteers
Somewhere to Go is really appreciative of all the volunteers that work tirelessly for the day centre and night services – there are some volunteers who have been working with the day service since it opened over 20 years ago. They add huge value and bring a wealth of experience and caring to guests who use one or both of our services.
Page 19
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Development costs have been capitalised in accordance with FRS 102 Section 18 Intangible Assets other than Goodwill and are therefore not treated as a deficit to the charity.
Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If the assets are gifted, they are recognised at fair value on receipt of the asset.
Freehold property is shown at deemed cost based on a professional valuation undertaken in 2016.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Amortisation method and rate |
|---|---|
| Website development costs | 20% on cost |
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Freehold property | 2% on cost |
| Improvements to property | 5% on cost |
| Furniture and equipment | 20% on cost |
Page 20
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
Investment properties
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
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.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The different funds the charity operates can be summarised as follows:
Community fund
This fund has been set up for the purchase and renovation of St John's Hall and funded by a grant from the Big Lottery Fund. The Big Lottery Fund has now expired and there is no longer any future expenditure anticipated on this fund. The movement on this fund represents the depreciation charged on the assets purchased using the restricted fund.
WSM Town Council Capital Grant fund
This fund relates to a capital grant received for the purchase of two lockable metal cabinets to reduce fire risks which have a useful economic life of five years.
Maximus Foundation Grant fund
This fund relates to the redesign and extension of the shower and toilet facilities, along with the refurbishment of the laundry room at the premises occupied by the company.
Page 21
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
Lloyds Bank Grant Fund
This fund relates to consultancy support for trustee training, a business plan and fundraising strategy, a part-time Outcomes support role to develop an appropriate outcomes framework and a contribution towards a database.
Kitchen Refurbishment Grant fund
This fund relates to the upgrade of the kitchen facilities at the premises occupied by the company.
Night Assessment Centre fund
This fund relates to the provision of services to house homeless people within the shop front directly under where the company trades from which is being funded by local authorities and North Somerset Council. Staff costs related to the Night Assessment Centre have been allocated to this fund.
NSC Rough Sleeper Initiative fund
This fund is for the purpose of delivering extended hours for the Night Assessment Centre and to host other agencies.
3 Income from donations and legacies
| Donations and legacies; Donations Gift aid reclaimed Grants, including capital grants; Other grants received Fundraising income Donated services and facilities Donated goods Total for 2021 Total for 2020 |
Unrestricted funds £ 37,931 1,161 93,737 4,351 25,740 10,000 172,920 102,494 |
Restricted funds £ - - - - - - - 80,414 |
Total funds £ 37,931 1,161 93,737 4,351 25,740 10,000 |
|---|---|---|---|
| 172,920 | |||
| 182,908 |
Page 22
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
4 Income from charitable activities
| Night Assessment Centre Total for 2021 Total for 2020 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits Rental income Total for 2021 Total for 2020 6 Other income Meals supplied Total for 2021 Total for 2020 |
Unrestricted funds £ 24,928 24,928 - |
Restricted funds £ - - 107,426 Unrestricted funds £ 13 7,050 7,063 4,258 Unrestricted funds £ 506 506 942 |
Total funds £ 24,928 |
|---|---|---|---|
| 24,928 | |||
| 107,426 | |||
| Total funds £ 13 7,050 |
|||
| 7,063 | |||
| 4,258 | |||
| Total funds £ 506 |
|||
| 506 | |||
| 942 |
Page 23
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
7 Expenditure on charitable activities
| 7 Expenditure on charitable activities | |||
|---|---|---|---|
| Note Depreciation, amortisation and other similar costs Staff costs Allocated support costs 8 Other support costs 8 Total for 2021 Total for 2020 |
Unrestricted funds £ 5,677 74,128 73,148 9,180 162,133 97,125 |
Restricted funds £ 12,539 - - - 12,539 155,962 |
Total funds £ 18,216 74,128 73,148 9,180 |
| 174,672 | |||
| 253,087 |
In addition to the expenditure analysed above, there are also governance costs of £9,180 (2020 - £5,711) which relate directly to charitable activities. See note 8 for further details.
8 Analysis of governance and support costs
Other support costs
| Independent examiner fees Independant examiners fees Accountancy fees Legal and professional fees Depreciation, amortisation and other similar costs Other governance costs Total for 2021 Total for 2020 |
Unrestricted funds £ 3,901 1,461 1,516 160 2,142 9,180 4,884 |
Restricted funds £ - - - - - - 826 |
Total funds £ 3,901 1,461 1,516 160 2,142 |
|---|---|---|---|
| 9,180 | |||
| 5,710 |
Page 24
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
9 Net incoming/outgoing resources
Net incoming resources for the year include:
| Depreciation of fixed assets | 2021 £ 18,376 |
2020 £ 10,019 |
|---|---|---|
10 Trustees remuneration and expenses
During the year, the charity reimbursed 2 trustees' a total of £2,993 (2020: 5 trustees were reimbursed a total of £3,285) for expenditure paid on behalf of the charity.
The nature of these expenses were for repairs and maintenance, software, hospitality and food costs.
Nothing was owed to trustees at the year end for reimbursed expenses.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
11 Staff costs
The aggregate payroll costs were as follows:
| 11 Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| Staff costs during the year were: Wages and salaries Pension costs |
2021 £ 71,558 2,570 74,128 |
2020 £ 128,450 3,198 |
| 131,648 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| Employees | 2021 No 6 |
2020 No 10 |
|---|---|---|
4 (2020 - 5) of the above employees participated in the Defined Contribution Pension Schemes.
Page 25
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
No employee received emoluments of more than £60,000 during the year.
12 Independent examiner's remuneration
| Examination of the financial statements Other fees to examiners All other services |
2021 £ 3,901 1,461 |
2020 £ 2,200 |
|---|---|---|
| 1,652 |
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Intangible fixed assets
| Cost At 1 June 2020 At 31 May 2021 Amortisation At 1 June 2020 Charge for the year At 31 May 2021 Net book value At 31 May 2021 At 31 May 2020 |
Website development £ 800 800 160 160 320 480 640 |
Total £ 800 |
|---|---|---|
| 800 | ||
| 160 160 |
||
| 320 | ||
| 480 | ||
| 640 |
Page 26
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
15 Tangible fixed assets
| Cost At 1 June 2020 Additions At 31 May 2021 Depreciation At 1 June 2020 Charge for the year At 31 May 2021 Net book value At 31 May 2021 At 31 May 2020 |
Freehold property £ 106,050 82,964 189,014 10,557 3,780 14,337 174,677 95,493 |
Furniture and equipment £ Improvements to property £ Total £ 72,105 32,062 210,217 19,867 55,429 158,260 91,972 87,491 368,477 49,948 16,400 76,905 10,061 4,374 18,215 60,009 20,774 95,120 31,963 66,717 273,357 22,157 15,662 133,312 |
Furniture and equipment £ Improvements to property £ Total £ 72,105 32,062 210,217 19,867 55,429 158,260 91,972 87,491 368,477 49,948 16,400 76,905 10,061 4,374 18,215 60,009 20,774 95,120 31,963 66,717 273,357 22,157 15,662 133,312 |
|---|---|---|---|
| 368,477 | |||
| 76,905 18,215 |
|||
| 95,120 | |||
| 273,357 | |||
| 133,312 |
Restriction on title and pledged as security
Freehold and investment property with a carrying amount of £185,246 (2020 - £187,943) has the following restriction on title:
The Big Lottery Fund hold a charge on the premises which is due to expire in 2022.
Page 27
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
| 16 Fixed asset investments Investment properties Investment properties Cost or Valuation At 1 June 2020 Provision At 31 May 2021 Net book value At 31 May 2021 At 31 May 2020 |
2021 £ 92,450 |
2020 £ 92,450 |
|---|---|---|
| Investment properties £ 92,450 |
||
| - | ||
| 92,450 | ||
| 92,450 |
The Trustees have confirmed the value shown within the accounts is a fair reflection of the investment property as at 31 May 2021 and as such, no further adjustments have been made.
17 Debtors
| 17 Debtors | ||
|---|---|---|
| Trade debtors Prepayments and accrued income Other debtors |
2021 £ 392 147 4,483 5,022 |
2020 £ - 9,072 3,324 |
| 12,396 |
Page 28
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
18 Cash and cash equivalents
| 18 Cash and cash equivalents | ||
|---|---|---|
| Cash on hand Cash at bank 19 Creditors: amounts falling due within one year |
2021 £ 50 35,808 35,858 |
2020 £ 120 85,392 |
| 85,512 | ||
| Bank loans Other taxation and social security Other creditors Creditors, accruals and deferred income |
2021 £ 7,500 497 1,182 9,692 18,871 |
2020 £ - 1,028 3,139 5,092 |
|---|---|---|
| 9,259 |
Included within the above is £2,963 (2020 - £1,838) of deferred income. This relates to yearly rent due for the period December to November and quarterly rent due for the period April to June.
20 Creditors: amounts falling due after one year
| 2021 | |
|---|---|
| £ | |
| Bank loans | 42,500 |
Page 29
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
| 21 Funds Unrestricted funds Unrestricted funds General fund Restricted funds WSM town council capital grant Maximus Foundation Lloyds Bank grant Kitchen refurbishment Night Assessment Centre Community fund NSC Rough Sleeper Initiative Total restricted funds Total funds |
Balance at 1 June 2020 £ 28,087 415 2,500 14,592 11,333 25,305 195,215 37,604 286,964 315,051 |
Incoming resources £ 205,418 - - - - - - - - 205,418 |
Resources expended £ (162,134) (195) - - (3,792) (6,003) (2,549) - (12,539) (174,673) |
Balance at 31 May 2021 £ 71,371 220 2,500 14,592 7,541 19,302 192,666 37,604 |
|---|---|---|---|---|
| 274,425 | ||||
| 345,796 |
Page 30
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
| Unrestricted funds Unrestricted funds General fund Restricted WSM town council capital grant Maximus Foundation Lloyds Bank grant Kitchen refurbishment Night Assessment Centre Community fund NSC Rough Sleeper Initiative Total restricted funds Total funds |
Balance at 1 June 2019 £ 17,518 610 - 14,862 15,800 26,050 197,764 - 255,086 272,604 |
Incoming resources £ 107,695 - 2,500 - - 135,341 - 50,000 187,841 295,536 |
Resources expended £ (97,126) (195) - (270) (4,467) (136,086) (2,549) (12,396) (155,963) (253,089) |
Balance at 31 May 2020 £ 28,087 415 2,500 14,592 11,333 25,305 195,215 37,604 |
|---|---|---|---|---|
| 286,964 | ||||
| 315,051 |
22 Analysis of net assets between funds
| 22 Analysis of net assets between funds | |||
|---|---|---|---|
| Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds £ 480 141,330 - (33,020) (17,855) (42,500) 48,435 |
Restricted £ - 132,027 92,450 73,900 (1,016) - 297,361 |
2021 Total funds £ 480 273,357 92,450 40,880 (18,871) (42,500) |
| 345,796 |
Page 31
Somewhere To Go Limited
Notes to the Financial Statements for the Year Ended 31 May 2021
| Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets 23 Analysis of net funds Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
Unrestricted funds £ 640 7,196 - 22,957 (5,961) 24,832 At 1 June 2020 £ 85,512 85,512 At 1 June 2019 £ 64,169 64,169 |
Restricted £ - 126,116 92,450 74,951 (3,298) 290,219 Financing cash flows £ (49,654) (49,654) Financing cash flows £ 21,343 21,343 |
2020 Total funds £ 640 133,312 92,450 97,908 (9,259) |
|---|---|---|---|
| 315,051 | |||
| At 31 May 2021 £ 35,858 35,858 At 31 May 2020 £ 85,512 85,512 |
Page 32