OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Registered number: 05268499 Charity number: 1107841

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 16
Independent auditors' report on the financial statements 17 - 20
Consolidated statement of financial activities 21
Consolidated balance sheet 22
Charity balance sheet 23
Consolidated statement of cash flows 24
Notes to the financial statements 25 - 45

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees Antonia Lancaster, Chair of Trustees
Daniel Bristow
Jeremy Hennell James, Treasurer
Elaine Webb
Tracy Murphy
Thomas Jell
Christopher McEwen
David Jackson
Gemma Bloomfield
Company registered
number
05268499
Charity registered
number
1107841
Registered office
22-24 Carr Street
Ipswich
IP4 1EJ
Company secretary
Julie Ramsey
Independent auditors
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL

Page 1

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their Annual Report together with the audited financial statements of Ipswich Housing Action Group Limited (the company) for the year ended 31 March 2021.

The Trustees confirm that the Annual Report and Financial Statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 is not required.

The company which also trades under the name ihAg, is a Charitable Company limited by guarantee and is governed by its Memorandum and Articles of Association.

1. Objectives and activities

a. Objects

The Charity’s Memorandum and Articles of Association state that “The Charity’s objects are to relieve need, hardship and distress amongst the homeless and amongst those who are living in adverse housing conditions in Ipswich and the surrounding districts by the provision of accommodation and associated amenities”.

The Board of Trustees agreed on 9th December 2020 to seek consent from the Charity Commission to amend the objects, to reflect our aspiration to work across Suffolk. A decision is pending.

b. Aim

The Board of Trustees also agreed a change to the ihAg Mission Statement. As of the 9th December 2020, this was updated to:

“To work alongside people living with the experience of homelessness, and those facing the risk of homelessness due to the challenges of everyday life, and enable them to move through their personal adversity to a place of security in their lives”

c. Objectives

To help people living with the experience of homelessness, or at risk of becoming homeless, in the Ipswich area, or in any area that can be serviced from an Ipswich base, primarily those people who are non-statutory homeless. In practice this has been achieved by:

Page 2

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

d. How Our Activities Deliver Public Benefit?

Insofar as it is complementary to the Charity's objectives, the Charity is guided by both local and national policy. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future service provision. In particular, the Trustees consider how service development will contribute to the aims and objectives they have set.

A description of ihAg service provision and who is able to access our support, is provided on our website at www.ihag.co.uk and through our social media channels, including twitter.com/IHAG_homeless , Facebook, LinkedIn, and YouTube.

All our charitable activities are grounded in evidence-based practice, which has shown that having a secure and appropriate place to live is the platform from which a person is best placed to identify and address their other needs. Our support is person-centred, and enables people to build their own resilience, thus preventing the circle of homelessness, and reducing the pressure on crisis services.

All our activities are undertaken to further our charitable purposes for the public benefit.

2. Review of Key Activities

In line with the One Year Strategy agreed in October 2019, key activities for the year were as follows:

Page 3

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3. Achievements and performance

a) One-year Strategy

I. Revision and Improvement of Service Delivery

At the beginning of this financial year, the country had already moved into lockdown restrictions due to the Corona Virus (Covid-19) global pandemic. Overnight, ihAg services moved from face to face to telephone and digital only.

As people seeking our support, and staff offering the support became more settled with this arrangement, the Senior Management team reviewed service delivery models weekly, to ensure safety measures were appropriate, and the service remained effective.

Whilst the pandemic meant services had to change rapidly to remain in line with Government restrictions, it has provided the opportunity to completely review our mission, aims, and our service delivery models.

The Chapman Centre delivery model has been revised as part of the pre-application process for the Lottery Grant, and the same process will take place for both the Housing and Money Advice services, as their current contracts draw to a close.

II. Developing a stronger more cohesive identity Internally:

Remote working for the majority of the year has prevented the whole staff team from meeting in person, and this has inevitably had an effect on cross-team working and relationships. The Senior Management team have continued to meet weekly, and agreed that this issue should be resolved when the entire staff team are working from the Chapman Centre (late 2021).

News and information is circulated to the whole staff team on a regular basis, and the CEO has attended individual service meetings to remain in contact with staff.

Externally:

A Marketing plan had been drafted as part of the rebranding exercise during 2019/20, and implementation had just begun as the first Covid-19 restrictions were put into place in March 2020.

With services having to operate remotely, our social media presence was of huge importance to share information with the people who were receiving our help, our partners, and potential donors.

Regular coordinated “posts” were made across all of our social media channels to raise the organisations’ profile, dispel some common myths, and highlight the services available to people regardless of the pandemic restrictions.

A series of short videos were commissioned during the summer, to illustrate the main purposes of the services, and these were shown across the social media channels.

The refreshed website is vibrant, informative and easy to navigate, and presents a strong image of the organisations commitment to enabling people to achieve personal security.

III. Broadening Awareness and Fundraising Scope

The original Fundraising Strategy for 2020/21 had detailed a move towards externally promoting the organisation through public speaking and fundraising events. The pandemic restrictions meant this was unable to take place, and the vast majority of awareness raising has taken place via social media.

Page 4

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

However, ihAg did introduce the Spare a Thought, Share a Little campaign in the autumn, which did produce an increase in donations. We also utilised the “Matched Funding” event Local Giving promoted, and this also produced additional donations.

Towards the end of the financial year, work began on a new Income Generation Plan, which should enable ihAg to build on the work completed during 2020/21, and move towards securing corporate sponsorship and major donors.

IV. Preparing for Succession

The Board of Trustees and the Senior Management team recognise the need for a clear Succession plan for any of its senior team, and lessons from the 2019 succession process can help to shape a future process.

Because of the emergence of the pandemic, this priority has not been addressed during the last financial year, but a draft process will be completed during 2021/22.

V. Increasing effectiveness of campaigning and partnership working

ihAg has continued to complete sector surveys from National Council for Voluntary Organisations, Homeless Link and Community Action Suffolk, all of whom have increased their campaigning activity during the pandemic.

Various staff have also committed regular time to attending virtual meetings across the sector, to advocate on behalf of service users and staff in relation to safe practice, and local authority Covid-19 response measures.

Partnership working has proved to be key during the restrictions, with each of the core ihAg services continuing to work with agencies to support the needs of service users.

The refreshed website has a dedicated section for Professionals supporting people living with the experience of homelessness, and we have seen an increase in enquiries to the Chapman Centre in particular from other agencies looking for advice on how to offer the most appropriate support.

b) Strategy Revision

In light of the Covid-19 pandemic, the Trustees agreed to the adoption of an Adapt and Flex approach to the operational plans for the year, which allowed all three core services to provide support that aligned with the Government's restrictions in the safest and most appropriate way for its users, as and when they needed it.

Lockdown restrictions changed throughout the year and the Board of Trustees were able to hold an away day in August 2020. This focused on the organisations’ ability to stabilise during the challenges imposed during the Covid-19 restrictions, and prepare for the financial challenges of the following 12-18 months. Following this, the CEO proposed a change in strategy for the remainder of the year, and this was agreed in October 2020.

The revised priorities were:

i) Develop a strong organisational identity ii) Investment in the infrastructure of ihAg iii) Preparation for growth iv) Broadening awareness and fundraising scope

I. Develop a strong organisational identity

This priority built on the earlier on the previous “develop a stronger more cohesive identity” and focused on three specific actions:

Page 5

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

All three of these actions have been completed.

II. Investment in the infrastructure of ihAg

In addition to the reviews of service delivery models, the Covid-19 pandemic also brought an opportunity to review the infrastructure of ihAg, and ensure it was “fit for purpose” once the pandemic was over. This focused on the following actions:

The organisational structure has been considered, but no roles have been affected to date. This is likely to take place in 2021.

The staff benefits package was reviewed. Whilst no pay award could be awarded due to the financial situation, a reduction in hours to the full time working week was made, with no detriment to holiday entitlement to current salary. This took effect from October 2020.

The Senior Management team are continuing to discuss how the services can work better together, and this should improve when the whole staff team are based at the Chapman Centre (late 2021).

III. Preparation for growth

The Board of Trustees and the Senior Management team have agreed that ihAg needs to upscale its services to ensure future sustainability. Before doing so, the current service models need to be reviewed to ensure efficiency and effectiveness, and evidence of the impact of services needs to be established.

All of the service models have had some level of revision during this financial year. Potential pilot projects have been discussed, and business proposals will be submitted when suitable funding is identified.

Both performance and quality measures were considered, but the pandemic has suspended the introduction of these, as services have changed significantly since the lockdown restrictions came into force.

Some service user consultation has taken place, and there is a commitment for this to continue as and when discussion forums can be held face to face.

IV. Broadening awareness and fundraising scope

Page 6

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Board of Trustees and Senior Management team recognise the need to invest in a consistent income generation programme, to ensure our fundraising targets are achieved.

The creation of a Fundraiser role was agreed, but after two rounds of unsuccessful recruitment, the post has currently been put on hold. (Successful recruitment was almost certainly hampered by the pandemic).

A Marketing plan was devised, and a rolling programme of fundraising requests and targeted messaging has begun across all social media channels.

An Income Generation Strategy has been drafted for 2021/22, and this builds on the marketing work which has already taken place.

c) Service Delivery

Delivery of services has remained the central focus of the wider staff team of ihAg, and throughout the year all core services have been available by phone and email, and where possible, face to face. The Flex and Adapt approach enabled services to meet the needs of people in the safest and most time effective way.

A total of 1,872 people received regular support by the organisation during the year;

882 accessed support via the Chapman Centre

Our Outreach workers continued to tour Ipswich on a daily basis to engage with people who were sleeping rough, and encourage them to take the spaces made available by the local authority under the Everyone In call. Whilst many took this opportunity to have a safe space during the initial lockdown period, some found the restrictions of the space too much to maintain, and returned to the streets.

ihAg ensured “safety packs”, funded from a Local Giving Grant, were distributed to as many as possible to maintain their safety during the pandemic. These packs included face masks, gloves, hand sanitiser and the latest NHS advice about the pandemic.

In partnership with Emmaus Suffolk, “boredom packs” were created and distributed to people being supported in ihAg accommodation, and other regular service users, to ease the stress and isolation of the lockdown periods.

Where appropriate, face-to-face appointments were held outside, and included the daily allowance of exercise to support physical and mental wellbeing.

In partnership with Suffolk County Council, ihAg was able to access fast response Covid-19 testing for the residents of its properties, where there were suspected cases. We were also able to access the vaccination programme for our staff team ahead of the general population.

Similarly, in partnership with the NHS Health Outreach team, the Chapman Centre was able to host vaccination sessions for people living with the experience of homelessness, and 59 people received these over a twomonth period.

All of the services have conducted some variation on service user consultation during the last financial year, to ensure services remained responsive to need.

Page 7

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

In general, people have been in favour of prearranged appointments, as this has given them structure and focus, and feedback from the Chapman Centre in particular was that this option for support was preferred to how the Centre operated previously.

People accessing the Money Advice service have welcomed the opportunity to send “photos” of documents via text or WhatsApp, as this has aided the time needed to assess their case.

In addition, the people supported by the Housing Service, including those supported by the Housing First project, have welcomed the opportunity to have regular contact, and some physical activity as part of their engagement.

This feedback will be used to shape future service models.

4. Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the ‘going concern’ basis in preparing the financial statements. Further details regarding the adoption of the ‘going concern’ basis can be found in the Accounting Policies.

Page 8

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

b. Financial Position

The budget for 2020/21 was approved by the Trustees on 12th March 2020 and predicted a deficit of £157,713. It was agreed that whilst the outcomes from some Grant applications were still pending, a considerable amount might be needed from the Investment fund to support services, should it not be possible to obtain funding from elsewhere. A further review of the situation would take balance at the mid-year point, and decisions would be taken about restructure of services if necessary.

Towards the end of 2019/20, ihAg was successful in securing 2020/21 funding for the Rough Sleeper Initiative In-Reach and Outreach contracts (value £86,000) Lottery Covid-19 Emergency Fund (£49,184) and several grants for the weekend service at the Chapman Centre (total value £41,920).

During the summer of 2020, the Money And Pensions Service (MaPS) recognised the potential increase in demand for Money Advice services due to higher levels of personal debt and redundancies resulting from the pandemic. In the autumn they introduced an Increased Capacity grant, which ihAg successfully applied for. This additional grant of £40,196 enabled us to recruit and train one additional full time money advisor, and this role began in December 2020. It is hoped this funding will be extended until the end of the current MaPS contract, 31st March 2022.

The overall expenditure for 2020/21 was significantly impacted by the Covid-19 pandemic restrictions, with lower expenditure in a number of key areas across the organisation. This combined, with the additional income which was secured through Covid-19 emergency funds, and the Government Furlough scheme, resulted in a year-end surplus of £76,858 for the group.

Investment fund

The Trustees have agreed that any drawings from the Investment Fund must be properly costed/specified, be time limited and fall under one of the following criteria:

  1. Services where there is a shortfall, as long as that shortfall is considered to be reasonably short-term and that convincing efforts are being made to replace that funding or to reduce the cost of the service in the near future.

  2. Services and/or posts where there is currently no income, but which will be an asset to ihAg in the long term and/or which ihAg can sell and market.

  3. Capital expenditure that can be recouped through savings or income generation within a reasonable period.

The CEO will be expected to present a detailed Business Proposal to the full Board, outlining the case for committing funds to a role/pilot project/underfunded service, the short and long term benefits this will bring the organisation and how this will be monitored.

There is a clear understanding that whilst using reserves in this way in the short term is sound business, in the long term this is neither sustainable nor good practice. The one-year strategy implemented for the financial year 2020/21 will provide a platform for a longer term strategy which will include a clear model for increasing unrestricted and restricted funds, which will enable ihAg resources to stabilise and proactively grow as opportunities in the sector allow.

In addition, with the specialist support and advice from Larking Gowen, ihAg and the Chapman Centre registered for VAT during this financial year. A case was put forward to the HMRC as to why this backdated registration had been made, and to ask for consideration when considering any penalty for late registration.

VAT returns for this financial year have been submitted, and payment made in respect of our liability.

We have also been advised that it is possible to deregister the Chapman Centre Trust for VAT purposes from March 2021.

Page 9

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Other funds

We are grateful for the continued support of the Mrs LD Rope Third Charitable Settlement and various funds managed by the Suffolk Community Foundation; Ipswich Borough Council Community Grants Fund for its considerable 3-year investment in ihAg to run and develop the Chapman Centre.

We are also indebted to the Mulberry Trust, Albert Hunt Trust, the 29th May 1961 Charitable Trust, Hopkins Homes Fund, KMA Solicitors, Jackamans Solicitors and numerous individual and small charitable donations from local community and faith groups who donate food and clothes throughout the year.

c. Reserves Policy

ihAg defines its free reserves as “… that part of its funds which relate to cash that is available to be spent freely on any of IHAG’s objects”.

The Trustees have set aside designated funds, the names of which are self-explanatory, for the purpose of renewing necessities on an ongoing basis. The Investment Fund has already been explained above.

Currently ihAg has a total of £995,258 in unrestricted funds; however, £275,000 of this is represented by fixed assets and is unavailable for immediate use.

ihAg's reserves policy states:

"the Trustees are committed to ensuring funds that are available to spend on the beneficiaries of the Charity are maximised, whilst retaining sufficient funds to cover current and future liabilities.

The charity will maintain minimum reserves equivalent to at least 3 months core expenditure and ideally aim to accumulate reserves equivalent of at least 6 months expenditure to provide the ability to meet unforeseen expenditure and provide flexibility in meeting growing demands."

To these ends, the Trustees have agreed, at the year end, the following:

  1. To ring-fence the Welfare Fund (£12,328), the Office Rental Fund for the remaining 1 ½ years of the lease (£24,147), the Office Development Fund (£15,000) and the investment Fund (£134,373).

  2. To increase the Maintenance Sinking Fund by £16,637 to £159,819. The Maintenance Sinking Fund is prudent to meet our maintenance liabilities on the houses we own and on the houses where the landlord is no longer liable for certain remedial work.

ihAg's three freehold properties are carried at £275,000 and free reserves stand at £276,533 which includes £100,000 to cover short-term income losses and £50,000 to cover staffing liabilities.

d. Material Investment Policy

ihAg holds its reserves in investment accounts and the focus of the Policy is to preserve the security of the funds whilst maximising the returns earned. Comparative interest rates are assessed on a regular basis but there is very little scope for secure investments returning more than the very low Bank of England Base Rate.

Additionally, ihAg has taken steps to spread its risk by keeping its reserves in a range of institutions.

Page 10

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

e. Fundraising Practices

ihAg developed a Fundraising Strategy for the year 2020/21, which focused on three key activities:

ihAg also registered with the Fundraising Regulator, to ensure good practice in our fundraising activity.

Due to the Covid-19 pandemic, the majority of “profile raising” activity took place digitally, via ihAg social media channels, and the new website.

Development of the content of this campaign was supported by SASA Marketing, and implemented by the CEO.

ihAg did not make any direct approaches to individuals, community groups or businesses during this financial year, and have not received any complaints regarding our messaging or campaigns.

5. Structure, governance and management

a. Constitution

The charity is registered as a charitable company limited by guarantee and was set up under a Memorandum of Association.

The principal object of the charitable company is to relieve need, hardship and distress amongst the homeless and amongst those who are living in adverse housing conditions in Ipswich and the surrounding districts by the provision of accommodation and associated amenities”.

b. Method of Appointment or Election of Trustees

The appointment of Directors/Trustees is by election at the AGM or, between AGMs, by election by the existing Trustees, with re-election at the next AGM.

ihAg has an Induction Policy which relates to all new staff, volunteers, and Trustees, and states “New Trustees will receive an induction period for their first 6 months which includes specific training on the role of being a Trustee, the work of ihAg, and the opportunity to shadow staff within the services”. This induction process is organised by the Chair of the Board and the CEO.

c. Management

The Charity is governed by the Directors/Trustees, who are ultimately responsible for the Charity and set the policies, guidelines and objectives.

In addition, the Directors/Trustees are responsible for agreeing the remuneration package for the CEO, and agreeing any subsequent pay review for all ihAg staff.

The management of the day-to-day activities of ihAg is delegated to the Chief Executive Officer (CEO), Jools Ramsey. Through a Delegation of Authority process, the CEO also delegates some day-to-day decision making responsibilities to the Service Managers.

Page 11

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

d. Governance

At 31st March 2021, the Trustee membership of 9 full Trustees provides ihAg with a balanced range of appropriate skills, experiences and working styles to develop a strong and effective Board.

Throughout this financial year, the Trustees have agreed to hold full Executive meetings every other month, with a more informal “catch-up” meeting in between these meetings.

This has ensured there was up to date information moving between the Executive Board and the Senior Manager team during the height of the Covid-19 pandemic, when operational challenges were changing month to month.

At the end of each operational quarter, the Executive Board have reviewed the financial and contractual performance of the services, alongside the CEO’s reporting on risk, safeguarding, health and safety and GDPR compliance.

The majority of these meetings have been held virtually.

A number of ihAg Trustees are also Trustees for the Chapman Centre Trust, and have continued to review the benefits of the two charities particularly in light of the need to register for VAT this year.

As the majority of contracts and funding sources held are in the name of ihAg, there has been some discussion about the continued need for the separate Chapman Centre Trust. This will be revisited next financial year.

Page 12

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a. Risk Assessment

The significant risks for 2020/21 were identified as: -

The risks associated with the pandemic were multi-layered, and changed as the lockdown restrictions were eased and then re-imposed. The main areas of concern were:

The Senior Management team continued to meet weekly to review the risks and impact of the pandemic, and maintained regular contact with staff regarding working practices. This practice has continued to date.

The risks associated with external funding sources focused on the reopening of long-term funding programme's, not linked to Covid-19. Many of these had been suspended, and small emergency funds had been set up to ensure short-term stability.

As the pandemic continued it was clear that funders such as the Lottery were preparing to reopen some of their funds, and the Senior Management team monitored these announcements. We subsequently discussed an application for the Reaching Communities fund with our grants officer, and began to gather the evidence we would need to add to our submission.

The risks associated with competition for local contracts linked with the recommissioning of two significant contracts. Both the Money Advice service and the Housing service contracts were due to expire on the 31st March 2021, and the recommissioning process would raise the possibility of another provider being successful in the bidding process.

Due to the pandemic, both the contracts were extended to 31st March 2022. This extension has provided an opportunity for us to review the model of delivery and make changes to working practices and outcome data ahead of the commissioning process. Whilst this does not greatly reduce the risk the tendering process presents, it has enabled us to be in a positive position ahead of preparing our bid.

b. Related party relationships

None of ihAg’s Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with an entity with which it does business must be disclosed to the full Board of Trustees.

In the current year, no such related party connections were reported.

Page 13

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6. Plans for future developments

Because of the uncertainty of the longer-term impact of Covid-19 on the funding environment, The Board of Trustees agreed that it would be prudent to develop a One Year Strategy for 2021/22, with a focus on internal reflection, consolidation and stability. This Strategy will enable us to build on our current strengths, develop a stronger sense of purpose and achievements, and raise our external profile as a provider of effective services.

The Strategy has four Strategic Objectives;

The previously agreed Adapt and Flex strategy would also remain in place, to ensure services remained, safe, responsive, and effective.

7. Reference and administrative information

The information on page 1 forms part of this report.

Page 14

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8. Conclusion

2020/21 has been a year of significant challenge for the whole population. The Covid-19 pandemic has affected every person, in every community, in every country, and as the year progressed it become clear that this would remain the case for some time.

As a local charity supporting people with complex lives, our ability to provide support and advice in a safe and appropriate way for service users, and retain a safe working environment for the staff team has been tested to its limits.

Staff have shown complete commitment to the health and safety protocols which have been implemented across the services, and it is a real testament to them that during this period there has been only one confirmed case of Covid-19 within our accommodation, and none within the front line staff team.

Our services have moved from face to face, to remote, and back again several times, and there was a significant concern that people living with the experience of homelessness would “fall through the gaps” as they disconnected from services who were open to them one week, but not the next.

Overall, our service user numbers have remained stable, but there has been a sharp increase in the number of agencies calling for guidance on how best to support people, and our status as a “go to” local organisation for information has risen. It is partly because of this that we included additional information on the refreshed website, specifically for Professionals.

This year has allowed the whole ihAg team to reflect on the services we provide, how we deliver them, and how things could be further improved to benefit service users. It has provided a unique opportunity to challenge our own perception of a “successful” service, and consider how we can design and fund new services to meet the expected demand over the coming months.

Our staff team has shown outstanding commitment and determination to provide the best service they can during this challenging year, and through a series of staff surveys, and team meetings, have reported feeling valued, listened to and connected with the decision-making processes regarding service changes.

This year has highlighted the resilience of the staff team, and the organisation as a whole, and it is this resilience that will enable ihAg to stabilise its services, consolidate its finances, and be ready for opportunities to develop and grow throughout the months ahead.

Page 15

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' 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 Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and 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 Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Larking Gowen LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Antonia Lancaster, Chair of Trustees

Jeremy Hennell James, Treasurer

Date: 06/12/21

Page 16

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF IPSWICH HOUSING ACTION GROUP LIMITED

Opinion

We have audited the financial statements of Ipswich Housing Action Group Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the charity Balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 17

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF IPSWICH HOUSING ACTION GROUP LIMITED (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 18

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF IPSWICH HOUSING ACTION GROUP LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Because of the field in which the client operates, we identified the following areas as the most likely to have a material impact on the financial statements: health and safety; employment law and compliance with company and charity laws and regulations.

The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, are detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Page 19

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF IPSWICH HOUSING ACTION GROUP LIMITED (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Giles Kerkham DChA FCA (senior statutory auditor) for and on behalf of Larking Gowen LLP Chartered Accountants Statutory Auditors

Ipswich

Date: 6/12/2021

Page 20

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
20,624
858,167
4,398
883,189
11,871
817,387
829,258
53,931
941,327
53,931
995,258		 Restricted
funds
2021
£
-
367,964
-
367,964
-
365,553
365,553
2,411
19,540
2,411
21,951		 Total
funds
2021
£
20,624
1,226,131
4,398
1,251,153
11,871
1,182,940
1,194,811
56,342
960,867
56,342
1,017,209		 Total
funds
2020
£
19,157
1,250,109
5,587
1,274,853
29,316
1,252,898
1,282,214
(7,361)
968,228
(7,361)
960,867

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 25 to 45 form part of these financial statements.

Page 21

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 05268499

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 126,928
825,093
952,021
(214,303)		 2021
£
4,491
275,000
279,491
737,718
1,017,209
21,951
995,258
1,017,209		 92,769
686,472
779,241
(93,374)		 2020
£
-
275,000
275,000
685,867
960,867
19,540
941,327
960,867

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Antonia Lancaster

Chair of Trustees Date: 06/12/21

The notes on pages 25 to 45 form part of these financial statements.

Page 22

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 05268499

CHARITY BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Restricted funds
Unrestricted funds
Total funds		 126,928
774,109
901,037
(198,950)		 2021
£
4,491
275,000
279,491
702,087
981,578
10,000
971,578
981,578		 112,430
625,047
737,477
(85,215)		 2020
£
-
275,000
275,000
652,262
927,262
10,000
917,262
927,262

The surplus for the year of the parent charity was £54,316 ( 2020 - £28,832 deficit ).

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Antonia Lancaster

Chair of Trustees Date: 06/12/21

The notes on pages 25 to 45 form part of these financial statements.

Page 23

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of intangible assets
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20
The notes on pages 25 to 45 form part of these financial statements		 2021
£
143,205
4,398
(8,982)
(4,584)
138,621
686,472
825,093		 2020
£
24,738
5,587
-
5,587
30,325
656,147
686,472

Page 24

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

Ipswich Housing Action Group Limited is a registered company incorporated in England and Wales and limited by guarantee, registration number 05268499. The registered office is 22-24 Carr Street, Ipswich, Suffolk, IP4 1EJ.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ipswich Housing Action Group 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.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The financial statements are presented in sterling and rounded to the nearest pound (£).

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.

2.2 Going concern

The Trustees have considered the company and group's position at the time of signing the financial statements. They have considered the current financial strength of the company and group, forecasts and projections and the range of measures available to mitigate ongoing costs should they be required.

Based on this, the Trustees have concluded that they have a reasonable expectation that the company and group will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

2.3 Income

All income is recognised once the group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grant income (including government grants) is included when the related conditions for the grant have been met.

Page 25

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Staff costs are allocated on the basis of time spent.

Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the group's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Basis of consolidation

The financial statements consolidate the accounts of Ipswich Housing Action Group Limited and its subsidiary undertaking, The Chapman Centre Trust.

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Statement of Financial Activities.

2.7 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.

2.8 Intangible assets and amortisation

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

Page 26

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.8 Intangible assets and amortisation (continued)

Amortisation is provided on the following basis:

Website development

2.9 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles - 20% straight line Office equipment - 25% straight line

No depreciation is provided in respect of freehold property as, in the opinion of the Trustees the estimated residual value is in excess of the net book value.

All new computer equipment is charged directly to the SOFA, as the Trustees consider that it it immediately impaired.

Furniture within the rental properties is replaced as necessary and the Trustees consider this to be revenue expenditure and it is therefore charged direct to the SOFA.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Page 27

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.13 Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Operating leases

Rentals paid under operating leases are charged to the consolidated statement of financial activities on a straight line basis over the lease term.

2.15 Pensions

The group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the group to the fund in respect of the year.

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 28

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. Income from donations and legacies

Unrestricted
funds
2021
£
Donations and membership
20,624
Unrestricted
funds
2020
£
Donations and membership
19,157		 Total
funds
2021
£
20,624
Total
funds
2020
£
19,157

4. Income from charitable activities

Unrestricted
funds
2021
£
Rents receivable
413,788
Service contracts
285,200
Money Advice Service Debt Advice Project Grant
-
Housing First
38,331
Ipswich Borough Council Grant
7,000
MHCLG - Rough Sleeper Initiative
85,682
Big Lottery Fund Grant (Chapman Centre)
-
The National Lottery Community Fund - Coronavirus
-
Funding for Money Advice
-
Other Chapman Centre Funding
300
Other Income
8,841
Coronavirus Job Retention Scheme
19,025
Total 2021
858,167		 Restricted
funds
2021
£
-
-
119,759
-
-
-
52,552
49,184
56,588
89,881
-
-
367,964		 Total
funds
2021
£
413,788
285,200
119,759
38,331
7,000
85,682
52,552
49,184
56,588
90,181
8,841
19,025
1,226,131

Page 29

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Income from charitable activities (continued)

Rents receivable
Service contracts
Money Advice Service Debt Advice Project Grant
Housing First
Ipswich Borough Council Grant
MHCLG - Rough Sleeper Initiative
Big Lottery Fund Grant (Chapman Centre)
Funding for Money Advice
Other Chapman Centre Funding
Other income
Total 2020		 Unrestricted
funds
2020
£
420,401
277,620
-
36,424
7,000
108,692
-
-
9,116
31,374
890,627		 Restricted
funds
2020
£
-
-
104,064
-
-
-
108,291
52,711
85,197
9,219
359,482		 Total
funds
2020
£
420,401
277,620
104,064
36,424
7,000
108,692
108,291
52,711
94,313
40,593
1,250,109

5. Investment income

Unrestricted
funds
2021
£
Interest received
4,398
Unrestricted
funds
2020
£
Interest received
5,587		 Total
funds
2021
£
4,398
Total
funds
2020
£
5,587

Page 30

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. Expenditure on raising funds

Costs of raising voluntary income

Fundraising
Tenant participation
Welfare costs
Fundraising
Tenant participation
Welfare costs
Direct staff costs		 Unrestricted
funds
2021
£
477
79
11,315
11,871
Unrestricted
funds
2020
Restricted
funds
2020
£
£
7,413
147
1,399
-
9,944
-
10,413
-
29,169
147		 Total
funds
2021
£
477
79
11,315
11,871
Total
funds
2020
£
7,560
1,399
9,944
10,413
29,316

Costs of raising funds include the costs of grant applications, however income from successful grants is included in charitable activities.

Page 31

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Analysis of charitable activities expenditure

Provision of housing
Advice services
Money advice services		 Activities
undertaken
directly
2021
£
461,195
266,093
290,291
1,017,579		 Support
costs
2021
£
49,608
54,570
61,183
165,361		 Total
funds
2021
£
510,803
320,663
351,474
1,182,940

Included within Provision of housing are bad debt write offs of £18,049 (2020 - £17,519) .

Provision of housing
Advice services
Money advice services		 Activities
undertaken
directly
2020
£
483,797
298,925
307,179
1,089,901		 Support
costs
2020
£
48,899
53,788
60,310
162,997		 Total
funds
2020
£
532,696
352,713
367,489
1,252,898

Page 32

(A company limited by guarantee)

IPSWICH HOUSING ACTION GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Analysis of charitable activities expenditure (continued)

Analysis of support costs

Provision of
housing
2021
£
Training/recruitment
1,931
Office costs
27,038
Membership and subscriptions
967
Admin costs
9,974
Premises costs
871
Amortisation
1,347
Governance costs
7,480
49,608
Provision of
housing
2020
£
Training/recruitment
4,027
Professional fees
4,307
Office costs
21,135
Membership and subscriptions
984
Admin costs
6,231
Premises costs
2,767
Governance costs
9,448
48,899		 Advice
services
2021
£
2,124
29,742
1,064
10,972
958
1,482
8,228
54,570
Advice
services
2020
£
4,429
4,738
23,249
1,082
6,853
3,045
10,392
53,788		 Money
advise
services
2021
£
2,380
33,348
1,193
12,301
1,075
1,662
9,224
61,183
Money
advise
services
2020
£
4,966
5,313
26,067
1,214
7,684
3,414
11,652
60,310		 Total
funds
2021
£
6,435
90,128
3,224
33,247
2,904
4,491
24,932
165,361
Total
funds
2020
£
13,422
14,358
70,451
3,280
20,768
9,226
31,492
162,997

Governance costs include: Auditors' and independent examiners remuneration; Trustee expenses and training and professional fees.

Charitable expenditure has been recategorised compared to the prior year accounts to more accurately and clearly present the key charitable activities. There has been no adjustment to the total 2020 expenditure.

Page 33

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Auditors' remuneration

2021 2020
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 8,280 8,100
Fees payable to the Charity's auditor for the independent examination of
the subsidiary's annual accounts 1,860 1,800
Other fees payable to the Charity's auditors 4,432 -

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2021
£
689,939
53,929
45,634
789,502		 Group
2020
£
731,019
53,876
46,052
830,947		 Company
2021
£
689,939
53,929
45,634
789,502		 Company
2020
£
731,019
53,876
46,052
830,947

Included within wages and salaries is a non-statutory/non-contractual severance payment of £NIL ( 2020 - £17,500 ).

The average number of persons employed by the Charity during the year was as follows:

Charitable activities
Management and administration of the
Charity		 Group
2021
No.
31
4
35		 Group
2020
No.
35
3
38		 Company
2021
No.
31
4
35		 Company
2020
No.
35
3
38

No employee received remuneration amounting to more than £60,000 in either year.

The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel during the year was £55,782 (2020 - £56,935).

Page 34

IPSWICH HOUSING ACTION GROUP LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

Trustees' expenses totaling £50 ( 2020 - £2,367) were reimbursed for membership costs.

11. Acting as agent

During the period, Ipswich Housing Action Group collected and paid over fees on behalf of Anglia Care Trust totaling £16,147 ( 2020 - £NIL ). This is not included within the Statement of Financial Activities.

12. Intangible assets

Group
Cost
Additions
At 31 March 2021
Amortisation
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Website
develop-
ment
£
8,982
8,982
4,491
4,491
4,491
-

Page 35

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Tangible fixed assets

Group and Company

Cost or valuation
At 1 April 2020
At 31 March 2021
Depreciation
At 1 April 2020
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Freehold
property
£
275,000
275,000
-
-
275,000
275,000		 Motor
vehicles
£
27,051
27,051
27,051
27,051
-
-		 Office
equipment
£
4,716
4,716
4,716
4,716
-
-		 Total
£
306,767
306,767
31,767
31,767
275,000
275,000

14. Subsidiary charity

On 25 January 2017, The Chapman Centre Trust (a charitable company, limited by guarantee) was incorporated. The Chapman Centre Trust's Company registration number is 10584100 and Charity registration number is 11775598. Ipswich Housing Action Group Limited holds the majority of the voting rights and has the right to appoint or remove a majority of its board of directors, therefore The Chapman Centre Trust is a subsidiary of Ipswich Housing Action Group Limited.

The Chapman Centre Trust has no shares and therefore the cost of the investment is £Nil.

2021 2020
£ £
Total assets 56,117 61,425
Total liabilities (20,486) (27,820)
Total funds 35,631 33,605
Gross income 65,050 197,759
Expenditure (63,024) (176,288)
Surplus 2,026 21,471

Page 36

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2021
£
55,896
-
64,185
6,847
126,928		 Group
2020
£
31,297
-
54,352
7,120
92,769		 Company
2021
£
55,896
-
64,185
6,847
126,928		 Company
2020
£
31,297
19,661
54,352
7,120
112,430

Page 37

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April 2020
Resources deferred during the year
Amounts released from previous periods		 Group
2021
£
15,430
-
79,552
10,224
109,097
214,303
Group
2021
£
30,970
79,143
(30,970)
79,143		 Group
2020
£
10,002
-
28,928
-
54,444
93,374
Group
2020
£
4,243
30,970
(4,243)
30,970		 Company
2021
£
15,430
5,133
75,926
10,224
92,237
198,950
Company
2021
£
30,970
64,143
(30,970)
64,143		 Company
2020
£
10,002
-
22,269
-
52,944
85,215
Company
2020
£
4,243
30,970
(4,243)
30,970

Deferred income comprises contract income received in advance.

Page 38

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds

Statement of funds - current year

Balance at 1
April 2020
£
Unrestricted funds
Designated funds
Maintenance Sinking Fund
144,502
Investment Fund
136,681
Office Rent Fund
39,801
Other Designated Funds
125,430
446,414
General funds
Freehold property capital
275,000
General Funds
219,913
494,913
Total Unrestricted funds
941,327		 Income
£
Expenditure
£
-
(1,320)
-
(2,308)
-
(15,654)
11,745
(11,789)
11,745
(31,071)
-
-
871,444
(798,187)
871,444
(798,187)
883,189
(829,258)		 Transfers
in/out
£
16,637
-
-
-
16,637
-
(16,637)
(16,637)
-		 Balance at
31 March
2021
£
159,819
134,373
24,147
125,386
443,725
275,000
276,533
551,533
995,258

Page 39

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds (continued)

Balance at 1
April 2020
£
Restricted funds
Ipswich Locality Homelessness
Partnership
10,000
Funding for Chapman Centre
-
Big Lottery Fund Grant,
Reaching Communities -
Chapman Centre - revenue
-
The National Lottery
Community Fund - Coronavirus
Community Support Fund
-
Money advice project
-
Money and pension service
-
Ipswich Borough Council - rent
costs
-
National Lottery Awards for All
9,540
Weekend Opening Funding
-
Ipswich Borough Council -
running costs
-
19,540
Total of funds
960,867		 Income
£
Expenditure
£
-
-
18,306
(18,306)
52,552
(52,552)
49,184
(49,184)
56,588
(56,588)
119,759
(119,759)
6,825
(6,825)
-
(9,540)
24,750
(12,799)
40,000
(40,000)
367,964
(365,553)
1,251,153
(1,194,811)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2021
£
10,000
-
-
-
-
-
-
-
11,951
-
21,951
1,017,209

Page 40

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Maintenance Sinking Fund
Investment Fund
Office Rent Fund
Other Designated Funds
General funds
Freehold property capital
General Funds
Total Unrestricted funds		 Balance at
1 April 2019
£
129,764
199,428
57,343
114,395
500,930
275,000
181,517
456,517
957,447		 Income
£
1,062
1,633
469
10,112
13,276
-
902,095
902,095
915,371		 Expenditure
£
(2,961)
(62,747)
(17,542)
(10,814)
(94,064)
-
(837,427)
(837,427)
(931,491)		 Transfers
in/out
£
16,637
(1,633)
(469)
11,738
26,273
-
(26,273)
(26,273)
-		 Balance at
31 March
2020
£
144,502
136,681
39,801
125,431
446,415
275,000
219,912
494,912
941,327

Page 41

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Statement of funds (continued)

Restricted funds
Ipswich Locality Homelessness
Partnership
Big Lottery Fund Grant,
Reaching Communities -
Chapman Centre - revenue
The National Lottery
Community Fund - Coronavirus
Community Support Fund
Chapman Centre
Money and pension service
Ipswich Borough Council - rent
costs
Building works
Suffolk Community Foundation
- Emergency food fund
L D Rope - Weekend opening
support
Utilities from CC
National Lottery Awards for All
Total of funds		 Balance at
1 April 2019
£
781
-
-
-
-
-
5,000
5,000
-
-
-
10,781
968,228		 Income
£
9,219
108,291
52,711
104,064
49,100
2,700
4,028
-
5,000
9,540
14,829
359,482
1,274,853		 Expenditure
£
-
(108,291)
(52,711)
(104,064)
(49,100)
(2,700)
(9,028)
(5,000)
(5,000)
-
(14,829)
(350,723)
(1,282,214)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2020
£
10,000
-
-
-
-
-
-
-
-
9,540
-
19,540
960,867

Page 42

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
275,000
Intangible fixed assets
4,491
Current assets
930,070
Creditors due within one year
(214,303)
Total
995,258		 Restricted
funds
2021
£
-
-
21,951
-
21,951		 Total
funds
2021
£
275,000
4,491
952,021
(214,303)
1,017,209

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2020
£
275,000
759,701
(93,374)
941,327		 Restricted
funds
2020
£
-
19,540
-
19,540		 Total
funds
2020
£
275,000
779,241
(93,374)
960,867

Page 43

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement
Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interests and rents from investments
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
21.
Analysis of changes in net debt
Cash at bank and in hand		 of Financial
At 1 April
2020
£
686,472
686,472		 Group
2021
£
56,342
-
4,491
(4,398)
(34,159)
120,929
143,205
Group
2021
£
825,093
825,093
Cash flows
£
138,621
138,621		 Group
2020
£
(7,361)
3,000
-
(5,587)
28,959
5,727
24,738
Group
2020
£
686,472
686,472
At 31 March
2021
£
825,093
825,093

Page 44

IPSWICH HOUSING ACTION GROUP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

22. Operating lease commitments

At 31 March 2021 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 Group
2021
£
12,000
5,367
17,367		 Group
2020
£
12,000
17,367
29,367		 Company
2021
£
12,000
5,367
17,367		 Company
2020
£
12,000
17,367
29,367

23. Members' guarantees

The company is limited by guarantee. In the even of any winding up of the company each member would be required to contribute an amount not exceeding £10 towards the liabilities of the company. At 31 March 2021 there were 9 such members ( 2020 - 9 members ).

24. Related party transactions

Wages costs of £36,410 ( 2020 - £127,658 ) were recharged to The Chapman Centre Trust from Ipswich Housing Action Group. A management charge of £2,178 ( 2020 - £12,470 ) was recharged from Ipswich Housing Action Group Limited to The Chapman Centre Trust.

At the year end, Ipswich Housing Action Group Limited owed £5,133 to The Chapman Centre Trust ( 2020 - £19,661 owed by The Chapman Centre Trust to Ipswich Housing Action G roup).

Page 45