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2022-03-31-accounts

Ipswich Housing Action Group Limited Company limited by guarantee

Financial Statements For the year ended 31 March 2022

Company Registration Number 05268499

Charity Number 1107841

Ipswich Housing Action Group Limited

Company limited by Guarantee

Contents

Year ended 31 March 2022

Page
Trustees Annual Report (incorporating the director's report) 1 - 12
Independent auditor's report to the members 13 - 15
Consolidated Statement of financial activities (including income and expenditure account) 16
Consolidated and Charity Balance Sheet 17
Consolidated Statement of Cash Flows 18
Notes to the financial statements 19 - 30

Ipswich Housing Action Group Limited

Company limited by guarantee

Trustees' Annual Report

Year ended 31 March 2022

The Trustees present their report and audited consolidated financial statements of the charity and group for the year end 31 March 2022 which are also prepared to meet the requirements for a director's report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and 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 published in October 2019.

Reference and Administrative Details

Registered charity name Ipswich Housing Action Group Limited
Charity registration number 1107841
Company registration number 05268499
Principal office and registered The Chapman Centre
office Black Horse Lane
Ipswich
Suffolk
IP1 2EF

The trustees

The trustees who served during the year and at the date of approval were as follows:

Antonia Lancaster (Chair) Daniel Bristow Jeremy Hennell James (Treasurer) Elaine Webb Tracy Murphy (resigned 31/03/2022) Thomas Jell Christopher McEwen David Jackson (resigned 30/12/2021) Gemma Bloomfield Chief Executive Officer and Company secretary Julie Ramsey Auditor Lovewell Blake LLP Chartered Accountants & Statutory Auditor Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 0LB

1

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Objectives and activities

a. Policies and objectives

The principal objects of Ipswich Housing Action Group (ihAg) are set out in its Memorandum and Articles of Association, which states;

“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”.

b. Public benefit

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 activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

In summary, the aims of our charity are to support people, primarily those who are “non-statutory homeless” to access professional, nonjudgemental advice, and guidance in order to better understand their situation and make informed decisions about their lives; and these fully reflect the purposes that the charity was set up to further.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2).

c. Strategies for achieving objectives

Due to the ongoing impact of the Covid-19 pandemic and National prevention measures, the Executive Board of Trustees approved a One Year Strategic Plan for 2021/22 with four key strategic objectives, and a detailed delivery plan to achieve those.

The Strategic Objectives were:

Further development of needs-led services, across all three core areas of Accommodation, Prevention and Support, which are Covid-19 resilient

Invest in the infrastructure and resources of the organisation in readiness for growth

Increase unrestricted funding

2

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Objectives and activities (continued)

c. Strategies for achieving objectives (continued)

Proactively develop a reputation as a leading provider of effective services

The strategy also restated ihAg’s Mission:

“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 to enable them to move through their personal adversity to a place of security in their lives”

d. Activities undertaken to achieve objectives

ihAg’s 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 a cycle of homelessness, and reducing the pressure on “crisis” services.

In practice our objectives are achieved by:

Delivery of services was affected by the Covid-19 prevention measures which continued to be in place during 2021/22, including the restriction on indoor activities.

Whilst support and advice was offered by text, phone and email, face-to-face support was offered by appointment only across all the services for most of the year. This decision was taken initially due to the Covid-19 prevention measures, and continued following service user feedback, which confirmed this was the preferred option by most people seeking our support.

The Senior Management team worked to achieve the Strategic Objectives through consultation with the staff team, liaison with other local support agencies, and discussion and agreement with the Board.

The safety, responsiveness and effectiveness of services remained a key focus during the year.

Fundraising Practices

ihAg developed an Income Generation Strategy for the year 2021/22, which focused on eight key activities:

3

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Objectives and activities (continued)

d. Activities undertaken to achieve objectives (continued)

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

ihAg did not make any direct approaches to individuals, community groups or businesses during this financial year, as our focus has been on Trust and Foundations application. We have not received any complaints regarding our messaging or campaigns.

Achievements and performance

a. Service Delivery

ihAg core services have remained on offer throughout the financial year and have operated within the “Adapt and Flex Approach” which was adopted during the initial Covid-19 lockdown in 2020.

Face masks and hand sanitiser have been available to all service users and staff, and social distancing measures including screens have remained in place at ihAg premises.

During periods where national prevention measures have been lifted, service users have been asked to provide proof of a negative PCR test before attending appointments, and staff have been encouraged to take up the vaccinations on offer and use testing to prevent outbreaks in the workplace.

Service staff were also split into “bubbles” to ensure services could continue to operate safely if infection occurred.

A total of 1,647 people received regular support by the organisation during the year;

1,152 accessed support via the Chapman Centre

403 people engaged in the assessment process by Money Advice

92 people were supported with accommodation

The Chapman Centre

Advice Team

The advice team offered support via phone, email, and text during prevention measures restrictions, and reverted to face-to-face interviews when these were lifted. An appointment only system remained in operation, and service users stated that they preferred this to the previous drop-in arrangements, as it provided privacy, and an ability to focus on their own needs.

873 individuals received support from the Advice service, on topics ranging from homeless applications, welfare benefit entitlements, seeking grants for furniture, advocacy with other agencies, support to register for primary healthcare and legal rights.

163 individuals had not sought advice around homelessness from ihAg previously.

Weekend Service

The weekend service offered small group wellbeing sessions, for people who were already receiving support from the Advice Service and had struggled with isolation during the Covid-19 prevention measures.

508 people attended over the year, and engaged with discussion, games, and lunch.

Many reported that this was their first social interaction since the beginning of the pandemic, and attendance had increased their confidence in returning to a “normal” lifestyle and improved their overall wellbeing.

Outreach

The outreach staff conducted early morning “sweeps” of the town each weekday morning in a bid to find anyone who had bedded down over night, or as a direct response to a Streetlink Alert. Numbers found on any one morning have ranged between zero and eleven.

In total, 218 individuals have been located by Outreach this year, of which 143 were supported into emergency or temporary accommodation.

49 individuals accessed breakfast at the Centre, on a total of 116 occasions, and 30 individuals regularly accessed the shower facilities.

4

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

In-Reach

In-reach support was offered to people in emergency or temporary accommodation, who were at risk of being evicted.

61 people were supported to retain their tenancy and resolve the issues which may have led them to becoming homeless.

Partnership work

Community Dentist

The Community Dentist van has visited the Centre on a monthly basis to provide emergency dental treatment to people who are not registered with local dental surgeries. Several people required multiple appointments to complete extractions, fillings and the provision of dentures, and there is now a waiting list for people wishing to access this service in the new financial year.

OneLife Suffolk

OneLife Suffolk professionals have provided monthly clinics offering Heart Health checks from October 2021. Six people have accessed this service and have been supported to register with primary health care providers. Two of these required follow up appointments to address health concerns.

Health Outreach Clinics

Health Outreach nurses have accompanied the Outreach staff once a week to engage with people sleeping rough and have offered health appointments at the Centre at least twice a week when Covid-19 prevention measures were lifted.

The Health Outreach team offered Covid-19 vaccination sessions at the Centre, to people who were sleeping rough and in emergency accommodation.

Housing Services

Accommodation

ihAg accommodation has been available throughout the year for people who have registered with Housing Related Support Gateway.

All 54 bedspaces were occupied during the year. In total, thirty-one people moved on during this period, and a twenty-nine people were accepted as new residents

Housing First

ihAg has one Housing First support worker, offering intensive support to people with complex issues, which have previously prevented them from securing or maintaining a safe place to call home.

During this period ten individuals received support, seven of whom successfully secured accommodation, and maintained this for over three months.

By the end of the year, eight of the ten people supported had reduced occurrences of criminal behaviour, and all had engaged with support services for physical and mental health, and substance use.

Money Advice

ihAg Money Advisors continued to provide professional support and guidance via phone, text, and email during the year, and offered face-to-face appointments for people who requested this.

Many service users, particularly those with children, commented that this flexibility was extremely important to them.

Five hundred and seventy-six individuals were referred to the service, and four hundred and three completed the assessment process.

Advisors supported people to manage a total of £3,519,078 in debts, with an average per person of £12,964.

Through grant applications, a total additional income of £46,014 was secured, an average of £1,643 per person.

5

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

b. Strategic Performance

The Senior Management Team have met weekly to oversee and review the day-to-day operations of the organisation and review the strategic objectives and delivery plan.

Further development of needs-led services, across all three core areas of Accommodation, Prevention and Support, which are Covid-19 resilient.

The Housing Services Manager has been holding discussions with Ip Serv, the property arm of the Local Authority, with a view to secure additional property which ihAg can lease to people who have been homeless.

This has been a long process due to a number of factors, but as of 31 March, the negotiations look very favorable for four additional properties to come on board within the next 6-9 months.

Invest in the infrastructure and resources of the organisation in readiness for growth

The Board of Trustees agreed to use money from the designated funds to invest in the infrastructure of the organisation. A new cloudbased HR package has been implemented, which has streamlined HR record keeping and reporting.

All laptops have been upgraded to Windows 10, and storage has been moved to a cloud-based system. This has increased the reliability of IT and improved the effectiveness of the hybrid working approach which has been in place throughout the year

Research has continued in relation to a case management system, which can be adopted by all three services.

Increase unrestricted funding

Although the role of the Fundraising Assistant has not been filled, the CEO has continued to apply for small grants for core services and seek financial support from other local community groups.

The number of regular donors has increased, and December and January saw a higher level of donations due to the social media Christmas campaign.

This objective will remain a priority for the coming year.

Proactively develop a reputation as a leading provider of effective services

The CEO has responded to all media requests, and the work of the organisation has been highlighted in a number of newspaper articles.

The website content has been refreshed regularly, and social media content has been both planned and responsive to current news stories.

ihAg has been represented at all Ipswich Locality Homelessness Partnership (ILHP) meetings, and at a number of County and National forums.

c. Income Generation

To achieve the objectives of the Income Generation Strategy, ihAg made two attempts to recruit a Fundraising Assistant, to support the CEO in identifying and connecting with potential donors and the development of a campaigns and events schedule.

Recruitment was unsuccessful, possibly because there were several similar roles available during the year with other agencies. It is possible that this was a ripple effect of the Covid-19 pandemic preventing the traditional types of fundraising events taking place.

The CEO and Trustees agreed to place a hold the recruitment for this. Having reviewed this decision the Executive Board of Trustees and Chief Executive Officer have agreed to increase the capacity of the Senior Team by creating the role of Director of operations, and this will be advertised in early 2023.

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

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.

6

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Financial review

a. Going Concern

The CEO has sought to secure additional funds from Trusts and Foundations and has a sound Income Generation Strategy in place.

The HRS Contract was further extended during this financial year, and it was confirmed in September 2022 that ihAg had successfully retained their contract. This is an initial five-year contract, with the possibility of a two-year extension.

In addition, The Board of Trustees and CEO have agreed a plan for growth and is already in discussions with the Local Authority regarding securing additional properties in the locality, which would provide sustainable move-on accommodation, and additional income.

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.

b. Principle Source of Income

ihAg’s main source of income is from Contracts with Local Authorities. ihAg is one of the providers of choice of Suffolk County Council for the Housing Related Support (HRS) contract; Ipswich Borough Council for the Rough Sleeper Initiative Outreach, In Reach and Housing First contracts; Money and Pensions Service and Sodexo for Money Advice service contracts.

Providing the HRS accommodation also provides ihAg with rental income.

We are also the recipient of a Reaching Communities Grant from the Lottery, to fund the weekday Advice Service; a Mulberry Trust Grant to fund the weekend Advice Service; and two Community Grants from Ipswich Borough Council.

c. Other Income

ihAg is fortunate to have a number of supporters who donate money on a monthly basis, and some who give on two or three occasions during the year. We are incredibly grateful to everyone who has chosen to donate in this way to the organisation.

We are also grateful to the Suffolk Community and L D Rope Trust, who have both made application for small grants simple and straightforward and provide a speedy response to requests.

In addition, this year ihAg has received monies from the Health Hearts Fund to work in partnership with a local health support provider to offer heart health checks to people who may have pre-existing conditions due to lifestyles.

Advice UK also made a payment in relation to costing incurred in obtaining debt relief orders.

Reserves Policy

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.”

7

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Financial review (continued)

Designation of Funds and Free Reserves

The Trustees have agreed to maintain designated funds for specific purposes, including the maintenance of ihAg properties and the ability to develop and grow its support provision.

Designated funds held at the year end totalled £440,630 made up of the following funds. The Maintenance Fund (Sinking Fund) totals £169,819, Welfare Fund at £12,327, Office Rental Fund at £11,052, Investment fund at £134,373, Development Fund at £25,000 and other designated funds of £88,059.

Restricted funds held at the year end totalled £31,588 (2021: £21,951). The restricted funds are detailed in note 18 of these financial statements.

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”. Free Reserves at the year end total £319,834 (2021: £276,533).

The CEO includes agreed spend on development in the annual budget presentation and submit a detailed business case for any additional spending requests during the financial year.

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.

Plans for Future Developments

The post Covid-19 funding environment continues to change, not least because of the emergence of a Cost-of-Living Crisis. The Board of Trustees agreed that it would be prudent to develop another One Year Strategy for 2022/23, with a focus on service user experience and organisational 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 three Strategic Objectives;

8

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Structure, governance, and management

a. Constitution

The organisation is a charitable company limited by guarantee and was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members, currently set as the Directors of the company, are required to contribute an amount of not exceeding £10. The charitable company is a registered charity, number 1107841.

b. Method of Appointment or Election of Directors/Trustees

The Directors may agree to actively seek new Directors through recruitment activities, and these will be administered by the Chief Executive Officer of ihAg, and the HR Officer. The Chair will offer to meet with potential new Directors, to discuss and evaluate their understanding of and suitability for the role of Director of the Company, and the degree to which they meet the current needs of the Board in terms of skill, experience, and diversity.

The Board will then consider the appointment and if satisfied, they will co-opt the applicant to the Board until the next Annual general Meeting takes place.

The Directors of the company are ex officio Trustees for the purpose of charity law. The Memorandum and Articles of Association require a minimum of three Directors. As of 31 March 2022, there are 7 members of the Board. The Memorandum and Articles of Association require that half of the membership retire annually. The members to retire are those that have been in office the longest. Retiring members are eligible for re- election. The members of the Board of Directors have the power to co-opt members to the Board; any such members hold office until the next Annual General Meeting when they are eligible to stand for election.

c. Policies adopted for the Induction and training of Directors/Trustees

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 Chief Executive Officer.

d. Policy Statements

Below are the summaries of our major policy statements:

Equality, Diversity, and Inclusion

ihAg’s Equality and Diversity in the Workplace Policy states:

“ihAg is an equal opportunities employer and actively supports Human Rights, and all Equality legislation and is committed to safeguarding the welfare of people with vulnerabilities. ihAg strives to be an inclusive employer, who values people as individuals, celebrates their differences, and provides support to enable staff to reach their potential in the workplace”

The Board of Trustees and CEO have agreed to actively diversify the Board membership during the recruitment of new Trustees over the coming 12 months.

The Senior Management team will continue to monitor the diversity of the wider ihAg staff team, to ensure this reflects the changing demographic of the local community.

9

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Structure, governance, and management (continued)

d. Organisational structure and decision making

The Board of Directors is legally responsible for the management and control of the charity; the Directors meet eight times per year and hold an Annual General Meeting in accordance with the governing document. They also have the authority to establish Board committees.

e. Key management personnel

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

The Board of Directors delegates day-to-day responsibility for the management of ihAg to the Chief Executive Officer. Through a Delegation of Authority process, the Chief Executive Officer also delegates some day-to-day decision-making responsibilities to the Service Managers, who alongside the Chief Executive Officer, form the Senior Management Team.

f. Governance

As of 31 March 2022, the Board membership of seven 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 held full Executive meetings every other month, with a more informal “catch-up” meeting every other month.

This has ensured there was up to date information moving between the Executive Board and the Senior Management team during the Covid-19 prevention measure periods, and a good sense of the impact of this on the service provision and staff wellbeing.

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.

These meetings have been a mix of virtual and face-to-face, as the restrictions have allowed.

Several ihAg Trustees are also Trustees for the Chapman Centre Trust and have continued to review the benefits of the two charities. ihAg is the sole member of The Chapman Centre Trust.

As the majority of contracts and funding sources held are in the name of ihAg, it has been agreed to review the need of the separate trust at the end of 2022/23

g. 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 transactions were reported.

h. Risk Assessment and Management

The significant risks for 2021/22 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:

10

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Structure, governance, and management (continued)

h. Risk Assessment and Management (continued)

The Senior Management team continued to meet weekly to review the risks and impact of the Covid-19 prevention measures and maintained regular contact with staff regarding working practices.

Both the Money and Pensions Service contract for Money Advice Services, and the Suffolk County Council Housing Related Support contract were extended at the end of the financial year 2020/21 and a revised timetable for the tendering process was announced.

The Senior Management team, and the Board of Trustees acknowledged this was a difficult and challenging time for the staff teams involved with the delivery of these services and maintained regular dialogue to discuss concerns.

Opportunities to hold fundraising events were severely reduced due to the Covid-19 prevention measures, and the CEO continued to use social media channels to raise the profile of the organisation and encourage the support of donors.

Toward the end of the financial year, the Senior Management team reviewed the organisation’s Business Continuity Plans, to ensure they were sufficiently robust, and to ensure they captured good practice which had been adopted in response in to the Covid-19 pandemic.

11

Ipswich Housing Action Group Limited

Company limited by Guarantee

Trustees' Annual Report (incorporating the director's report) (continued)

Year ended 31 March 2022

Statement of Trustees’ responsibilities

The Trustees (who are also Directors of Ipswich Housing Action Group Limited for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and apllication of resources, including income and expenditure, of the charitable company and the group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Disclosure of information to auditor

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

Auditor

Larking Gowen resigned as Auditors of ihAg on 9 May 2022.

Lovewell Blake were formally appointed as Auditors of ihAg on 27 May 2022

This report was approved by the Trustees, on 14 December 2022 and signed on their behalf by:

Antonia Lancaster

Jeremy Hennell James

Chair / Trustee

Treasurer / Trustee

12

Ipswich Housing Action Group Limited

Company limited by Guarantee

Independent Auditor's Report to the Members and Trustees of Ipswich Housing Action Group Limited Year ended 31 March 2022

Opinion

We have audited the financial statements of Ipswich Housing Action Group Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2022 which comprise Consolidated Statement of Financial Activities (including income and expenditure account), Consolidated Balance Sheet, Consolidated Statement of Cash Flow and notes to the financial statements, 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 and 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.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.

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 themselves 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.

Opinions 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 group and parent 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 the Companies Act 2006 and Charities Act 2011 require us to report to you if, in our opinion:

13

Ipswich Housing Action Group Limited

Company limited by Guarantee

Independent Auditor's Report to the Members and Trustees of Ipswich Housing Action Group Limited Year ended 31 March 2022

Matters on which we are required to report by exception (continued)

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement (set out on page 9), the trustees (who are also the directors of the parent charitable company fo the purposes of company law) are responsible for the preparation of 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 parent charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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 auditor’s 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Auditand-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilitiesfor-audit.aspx. This description forms part of our auditor’s report.

14

Ipswich Housing Action Group Limited

Company limited by Guarantee

Independent Auditor's Report to the Members and Trustees of Ipswich Housing Action Group Limited Year ended 31 March 2022

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, in accordance with 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 and its trustees those matters we are required to state to them in an auditor’s 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 the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Proctor FCA DChA (Senior Statutory Auditor)

For and on behalf of

Lovewell Blake LLP Chartered Accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

21 December 2022

Lovewell Blake LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

15

Ipswich Housing Action Group Limited

Company limited by Guarantee

Consolidated statement of financial activities (including income and expenditure account)

Year ended 31 March 2022

----- Start of picture text -----
Notes General Restricted 2022 2021
Funds Funds Total Total
£ £ £ £
Income and endowments
Donations and legacies 5 25,093 - 25,093 20,624
Charitable activities 6 817,692 343,256 1,160,948 1,226,131
Investment income 7 3,785 - 3,785 4,398
Total income 846,570 343,256 1,189,826 1,251,153
Expenditure
Raising funds 8 (2,626) - (2,626) (11,871)
Charitable activities 9 (803,738) (333,619) (1,137,357) (1,182,940)
Total expenditure (806,364) (333,619) (1,139,983) (1,194,811)
Net income before transfers 40,206 9,637 49,843 56,342
Transfers between funds - - - -
Net income and net movement in funds 40,206 9,637 49,843 56,342
Reconciliation of funds
Total funds brought forward 995,258 21,951 1,017,209 960,867
Total funds carried forward 18 1,035,464 31,588 1,067,052 1,017,209
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes set out on pages 19 - 30 form an integral part of the accounts

16

Ipswich Housing Action Group Limited

Company limited by Guarantee

Consolidated and Charity Balance Sheet

Year ended 31 March 2022

----- Start of picture text -----
Notes 2022 2022 2021 2021
Charity Group Charity Group
£ £ £ £
Fixed Assets
Intangible fixed assets 13 - - 4,491 4,491
Tangible fixed assets 14 275,000 275,000 275,000 275,000
275,000 275,000 279,491 279,491
Current Assets
Debtors 16 81,210 70,370 126,928 126,928
Cash at bank and in hand 21 795,289 861,776 774,109 825,093
876,499 932,147 901,037 952,021
Creditors: amounts falling due
within one year 17 (132,014) (140,094) (198,950) (214,303)
Net current liabilities 744,485 792,052 702,087 737,718
Total assets less current liabilities 1,019,485 1,067,052 981,578 1,017,209
Funds of the charity
Unrestricted funds 18 1,011,784 1,035,464 971,578 995,258
Restricted funds 18 7,701 31,588 10,000 21,951
Total charity funds 1,019,485 1,067,052 981,578 1,017,209
----- End of picture text -----

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

These financial statements were approved by the board of trustees and authorised for issue on 14 December 2022 and are signed on behalf of the board by:

A Lancaster Chair of Trustees

Company registration number: 05268499

The notes set out on pages 19 - 30 form an integral part of the accounts

17

Ipswich Housing Action Group Limited

Company limited by Guarantee

Consolidated statement of cash flows

Year ended 31 March 2022

----- Start of picture text -----
Notes 2022 2021
£ £
Cash flows from operating activities
Net cash from operating activities 20 32,898 143,205
Cash flows from investing activities
Dividends,interest and rents from investments 3,785 4,398
-
Purchase of intangible assets (8,982)
Net cash used in investing activities 3,785 (4,584)
Net increase in cash and cash equivalents 36,683 138,621
Cash and cash equivalents at beginning of year 825,093 686,472
Cash and cash equivalents at end of year 21 861,776 825,093
----- End of picture text -----

The notes set out on pages 19 - 30 form an integral part of the accounts

18

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements

Year ended 31 March 2022

1 General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales.

The address of the registered office is The Chapman Centre, Black Horse Lane, Ipswich, Suffolk, IP1 2EF.

2 Statement of compliance

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

3 Accounting policies

(a) Basis of accounting

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the charity.

(b)
Going concern
The CEO has sought to secure additional funds from Trusts and Foundations and has a sound Income Generation Strategy in
place.
With the success in winning the HRS contract in conjunction with the other funds already secured for the coming years the charity
has a good basis for this expansion.
In addition, The Board of Trustees and CEO have agreed a plan for growth and is already in discussions with the Local Authority
regarding securing additional properties in the locality, which would provide sustainable move-on accommodation, and additional
income.
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.

(c) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the group's purposes. Designated funds are unrestricted funds available for use at the discretion of the trustees to further any of the group's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. (d) Income All income is included in the statement of financial activities when entitlement has passed to the group, it is probable that the economic benefits associated with the transaction will flow to the group and the amount can be reliably measured. The following specific policies are applied to particular categories of income: • income from donations or grants is recognised when there is evidence of entitlement, the receipt is probable and its amount can be measured reliably.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

• income from grants, where related to performance and specific deliverables, are accounted for as the group earns the right to consideration by its performance.

19

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

3 Accounting policies continued

(e) Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered under partial exemption, and is reported as part of the expenditure to which it relates:

• expenditure on charitable activities includes all costs incurred by the group in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the group apportioned to charitable activities.

• governance costs include those costs associated with meeting the constitutional and statutory requirements of the group and include the audit fees and costs linked to the strategic management of the group.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

(f) Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

(g) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

(h) Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Website development - 50% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Amortisation costs in the year are included under Charitable activites.

(i) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

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

(j) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

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.

(k) Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

20

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements

Year ended 31 March 2022

3 Accounting policies continued

(l) Redundancy

Where an obligation to make a redundancy or termination payment exists, the costs incurred by the charity are accounted for on an accruals basis and included wages and salaries.

(m) Consolidation

The financial statements consolidate the results of the Charity and its wholly owned subsidiary, The Chapman Centre Trust on a line by line basis. A separate Statement of Financial Activities of Income and Expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemption of Section 408 of the Companies Act 2006.

(n) 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.

4 Limited by guarantee

The Trust is a company limited by guarantee. Each member of the Trust undertakes to contribute such an amount (not exceeding £10) as may be required in the event of winding up.

5 Donations and legacies
Donations and memberships
6 Charitable activities
Rent Receivable
Service contracts
Money and pensions service
Housing First
Ipswich Borough Council Grant
MHCLG - Rough Sleeper Initiative
Big Lottery Community Fund
The National Lottery Community
Money advice project
Lottery funding for Chapman Centre
Other Chapman Centre Funding
Coronavirus Job Retention Scheme
Other income
7 Investment income
Interest received		 £
£
£
25,093
-
25,093
25,093
-
25,093
Unrestricted
Funds
Restricted
Funds
Total Funds
2022
£
£
£
428,309
-
428,309
249,948
-
249,948
-
138,351
138,351
38,930
-
38,930
7,000
-
7,000
87,396
-
87,396
-
-
-
-
-
-
-
11,118
11,118
-
125,716
125,716
-
67,620
67,620
200
451
651
5,909
-
5,909
817,692
343,256
1,160,948
Unrestricted
Funds
Restricted
Funds
Total Funds
2022
£
£
£
3,785
-
3,785
3,785
-
3,785
Total Funds
2022
Restricted
Funds
Unrestricted
Funds		 £
£
£
20,624
-
20,624
20,624
-
20,624
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
413,788
-
413,788
250,200
-
250,200
35,000
119,759
154,759
38,331
-
38,331
7,000
-
7,000
85,682
-
85,682
-
52,552
52,552
-
49,184
49,184
-
56,588
56,588
-
-
-
300
89,881
90,181
19,025
-
19,025
8,841
-
8,841
858,167
367,964
1,226,131
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
4,398
-
4,398
4,398
-
4,398
Total Funds
2021
Unrestricted
Funds
Restricted
Funds

21

Ipswich Housing Action Group Limited Company limited by Guarantee Notes to the financial statements (continued)

Year ended 31 March 2022

8 Costs of other trading activities
Fundraising
Tenant participation
Welfare costs		 Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
£
£
£
£
£
£
852
-
852
477
-
477
19
-
19
79
-
79
1,755
-
1,755
11,315
-
11,315
2,626
-
2,626
11,871
-
11,871
Costs of raising funds include the costs of grant applications, however income from successful grants is included in charitable activities.
9 Expenditure on charitable activities
Activities
undertaken
directly
Support costs
Total Funds
2022
Activities
undertaken
directly
Support costs
Total Funds
2021
£
£
£
£
£
Provision of housing
473,786
40,821
514,607
461,195
49,608
510,803
Advice services
243,874
51,063
294,937
266,093
54,570
320,663
Money advice services
270,559
57,254
327,813
290,291
61,183
351,474
988,219
149,138
1,137,357
1,017,579
165,361
1,182,940

Included within Provision of housing are bad debt write offs of £14,521 (2021: £18,049).

Analysis of support costs

2022
Training/recruitment
Office costs
Membership and subscriptions
Administration costs
Premises costs
Amortisation
Governance
2021
Training/recruitment
Office costs
Membership and subscriptions
Administration costs
Premises costs
Amortisation
Governance
Analysis of governance costs
Auditors remuneration - audit services
Auditors remuneration - independent examination of subsiduary
Auditors remuneration - non audit services
Other professional costs
Trustee expenses		 Provision of
housing
£
2,430
26,367
1,273
-
1,473
1,347
7,931
40,821
Provision of
housing
£
1,931
27,038
967
9,974
871
1,347
7,480
49,608		 Advice
services
Money advice
services
£
£
2,673
2,997
36,154
40,537
1,400
1,570
-
-
1,620
1,817
1,482
1,662
7,734
8,671
51,063
57,254
Advice
services
Money advice
services
£
£
2,124
2,380
29,742
33,348
1,064
1,193
10,972
12,301
958
1,075
1,482
1,662
8,228
9,224
54,570
61,183
2022
£
11,940
3,000
-
9,015
381
24,336
Total Funds
2022
£
8,100
103,058
4,243
-
4,910
4,491
24,336
149,138

Total Funds
2021
£
6,435
90,128
3,224
33,247
2,904
4,491
24,932
165,361
2021
£
8,280
1,860
4,432
9,967
393
24,932

22

Ipswich Housing Action Group Limited

Company limited by guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

10 Net income

Operating leases
Amortisation of fixed assets
Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
Wages and salaries
Social security costs
Employer contributions to pension plans
Net income is started after charging		 2022
£
55,251
4,491
2022
£
656,279
46,536
42,758
745,573		 2021
£
12,000
4,491
2021
£
689,939
53,929
45,634
789,502

11 Staff costs

Wages and salaries include statutory redundancy pay of £nil (2021: £nil).

Throughout the period the group employed the following number of employees on either a full time or part time basis.

Charitable activities
Management and administration staff		 Group
2022
27
4
31		 Group
2021
31
4
35

No employee received employee benefits of more than £60,000 during the year (2021: None).

Key Management Personnel

The total value of remuneration and benefits received by four members of Key Management Personnel was £146,845 (2021: one member, £55,782).

12 Trustee remuneration and expenses

No Trustees received remuneration or expenses during the year (2021: £Nil).

Trustees' expenses totaling £Nil (2021: £50).

13 Intangible Fixed Assets - Group

Cost
As at 1 April 2021 and at 31 March 2022
Depreciation
As at 1 April 2021
Charge for the period
As at 31 March 2022
Net book value
As at 31 March 2022
As at 31 March 2021		 Website
development
£
8,982
4,491
4,491
8,982
-
4,491		 Total
£
8,982
4,491
4,491
8,982
-
4,491

23

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

14 Tangible Fixed Assets - Group and Charity

Cost
As at 1 April 2021 and 31 March 2022
Depreciation
As at 1 April 2021
Charge for the period
As at 31 March 2022
Net book value
As at 31 March 2022
As at 31 March 2021		 Freehold
Motor
Office
property
vehicles
equipment
Total
£
£
275,000
27,051
4,716
306,767
-
27,051
4,716
31,767
-
-
-
-
-
27,051
4,716
31,767
275,000
-
-
275,000
275,000
-
-
275,000

15 Subsidiary charity

On 25 Janaury 2017, The Chapman Centre Trust (a charitable company, limited by guarantee) was incorporated. The Chapman Centre Trust 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.

Gross income
Expenditure
Surplus
Total assets
Total liabilities
Total funds		 2022
2021
£
£
55,451
65,050
(43,515)
(63,024)
11,936
2,026
2022
2021
£
£
80,607
56,117
(33,040)
(20,486)
47,567
35,631

24

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

----- Start of picture text -----
16 Debtors 2022 2022 2021 2021
Charity Group Charity Group
£ £ £ £
Trade debtors 40,200 40,200 55,896 55,896
Prepayments and accrued income 11,300 25,420 6,847 6,847
Other debtors 4,750 4,750 64,185 64,185
Amounts due from group undertakings 24,960 - - -
81,210 70,370 126,928 126,928
17 Creditors: Amounts falling due within one year 2022 2022 2021 2021
Charity Group Charity Group
£ £ £ £
Trade creditors 14,673 14,673 15,430 15,430
Amounts owed to group undertakings - - 5,133 -
Other taxation and social security 13,124 13,124 75,926 79,552
Accruals and deferred income 97,883 105,963 92,237 109,097
Other creditors 6,334 6,334 10,224 10,224
132,014 140,094 198,950 214,303
2022 2022 2021 2021
Charity Group Charity Group
£ £ £ £
Deferred income brought forward 64,143 79,143 30,970 30,970
Deferred during the year 75,436 80,516 64,143 79,143
Released during the year (64,143) (79,143) (30,970) (30,970)
Deferred income carried forward 75,436 80,516 64,143 79,143
----- End of picture text -----

Deferred income comprises contract and grant income received in advance.

25

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

18 Analysis of charitable funds

Year ended 31 March 2022

Unrestricted funds

General funds
Freehold property capital
General Funds
Designated funds
Maintenance Sinking Fund
Investment Fund
Office Rent Fund
Other Designated funds
Restricted funds
Ipswich Locality Homelessness Partnership
Funding for Chapman Centre
The National Lottery - Community Support Fund
Money and pension service
Money advice project
Ipswich Borough Council - Rent fund
Weekend Opening Funding
Ipswich Borough Council - Running costs
Total funds		 At 1 April
Income
Expenditure
Transfers
At 31 March
2021
2022
£
£
£
£
£
275,000
-
-
-
275,000
276,533
846,570
(793,269)
(10,000)
319,834
551,533
846,570
(793,269)
(10,000)
594,834
159,819
-
-
10,000
169,819
134,373
-
-
-
134,373
24,147
-
(13,095)
-
11,052
125,386
-
-
-
125,386
443,725
-
(13,095)
10,000
440,630
995,258
846,570
(806,364)
-
1,035,464
10,000
-
(2,299)
-
7,701
-
3,520
(3,520)
-
-
-
125,716
(125,716)
-
-
-
138,351
(138,351)
-
-
-
11,118
(11,118)
-
-
-
9,100
(9,100)
-
-
11,951
15,451
(16,910)
-
10,492
-
40,000
(26,605)
-
13,395
21,951
343,256
(333,619)
-
31,588
1,017,209
1,189,826
(1,139,983)
-
1,067,052

26

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

18 Analysis of charitable funds (continued)

Year ended 31 March 2021

Unrestricted funds

General funds
Freehold property capital
General Funds
Designated funds
Maintenance Sinking Fund
Investment Fund
Office Rent Fund
Other Designated funds
Restricted funds
Ipswich Locality Homelessness Partnership
Funding for Chapman Centre
Big Lottery Fund Grant - Reaching Communities
The National Lottery - Community Support Fund
Money advice project
Money and pension service
Ipswich Borough Council - Rent fund
The National Lottery - Awards for All
Weekend Opening Funding
Ipswich Borough Council - Running costs
Total funds		 At 1 April
Income
Expenditure
Transfers
At 31 March
2020
2021
£
£
£
£
£
275,000
-
-
-
275,000
219,913
871,444
(798,187)
(16,637)
276,533
494,913
871,444
(798,187)
(16,637)
551,533
144,502
-
(1,320)
16,637
159,819
136,681
-
(2,308)
-
134,373
39,801
-
(15,654)
-
24,147
125,430
11,745
(11,789)
-
125,386
446,414
11,745
(31,071)
16,637
443,725
941,327
883,189
(829,258)
-
995,258
10,000
-
-
-
10,000
-
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
-
(9,540)
-
-
-
24,750
(12,799)
-
11,951
-
40,000
(40,000)
-
-
19,540
367,964
(365,553)
-
21,951
960,867
1,251,153
(1,194,811)
-
1,017,209

Description of funds

Designated funds

Maintenance Sinking Fund

Investment Fund

Office Rent Fund

Other Designated funds

To cover the costs of cyclical and unexpected repairs and renovation on ihAg property, including vans and tools (where appropriate).

Fund to support the purchase of New IT, software, equipment etc. which will bring added benefit to ihAg systems or enable the generation of income.

This fund is in place to be able to cover the office rent for the remainder of the lease (6 months to September 2022) at Carr Street.

Other funds relate to funds set out for operational and working capital requirements determined by the Trustees.

27

Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

18 Analysis of charitable funds (continued)

Description of funds (continued)

Restricted funds

Ipswich Locality Homelessness Partnership

Funding for administrator role for this partnership.

Funding for Chapman Centre

Big Lottery Fund Grant - Reaching Communities

The National Lottery - Community Support Fund

Money advice project Money and pension service

Ipswich Borough Council - Rent fund The National Lottery - Awards for All

Weekend Opening Funding Ipswich Borough Council - Running costs

This funding is for the Chapman Centre specifically and is made up mostly of donations in response to the Covid pandemic. This funding was to help cover the salaries of those working at The Chapman Centre.

This funding was from the National Lottery, in response to the pandemic, and was to help cover the salaries of those working at The Chapman Centre. Funding to provide money advice service for those in need.

Income has been received from the Money Advice Service to provide services giving advice on money and pensions.

Funding for The Chapman Centre rent.

Funding from the National Lottery, in response to the pandemic, and was to help cover the salaries of those working at The Chapman Centre. To fund the weekend opening of The Chapman Centre. Funding to cover costs of running The Chapman Centre.

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Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

19 Analysis of net assets between funds

As at 31 March 2022
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors: Amounts falling due within one year
Net assets
As at 31 March 2021
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors: Amounts falling due within one year
Net assets		 Unrestricted
funds
Designated
funds
Restricted
funds
Total Funds
2022
£
£
£
275,000
-
-
275,000
-
-
-
-
451,849
440,630
39,668
932,147
(132,014)
-
(8,080)
(140,094)
594,834
440,630
31,588
1,067,052
Unrestricted
funds
Designated
funds
Restricted
funds
Total Funds
2021
£
£
£
275,000
-
-
275,000
4,491
-
-
4,491
486,345
443,725
21,951
952,021
(214,303)
-
-
(214,303)
551,533
443,725
21,951
1,017,209

20 Reconciliation of net movement in funds to net cash flow from operation activities.

Net income for the year (per Statement of Financial Activities)
Adjustments for:
Amortisation charges
Dividends, interest and rent from investments
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash provided by operating activities
21 Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 Group
2022
£
49,843
4,491
(3,785)
56,558
(74,209)
32,898
Group
2022
£
861,776
861,776		 Group
2021
£
56,342
4,491
(4,398)
(34,159)
120,929
143,205
Group
2021
£
825,093
825,093

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Ipswich Housing Action Group Limited

Company limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2022

22 Analysis of charges in net debt

Cash at bank and in hand

At 1 April
At 31 March
2021
Cash flows
2022
£
£
£
825,093
36,683
861,776
825,093
36,683
861,776

23 Operating lease commitments

At 31 March 2022 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 but not later than 5 years		 Charity
Group
Charity
Group
2022
2022
2021
2021
£
£
£
£
21,384
21,384
12,000
12,000
29,575
29,575
5,367
5,367
50,959
50,959
17,367
17,367

24 Capital commitments

At the year end there was a commitment of £32,500 plus VAT (total £39,000) for the replacement of doors and windows, and a deposit of £6,500 was paid in the year which has been treated as a prepayment.

25 Related party transactions

Salary costs of £11,126 (2021: £36,410) were recharged to The Chapman Centre Trust from Ipswich Housing Action Group.

A management charge of £1,750 (2021: £ 2,178) was recharged from Ipswich Housing Action Group Limited to The Chapman Centre Trust.

At the year end Ipswich Housing Action Group Limited was owed £24,960 by The Chapman Centre Trust (2021: £5,133 owed by The Chapman Centre Trust from Ipswich Housing Action Group).

26 Results of Ipswich Housing Action Group

During the year, the charity made a surplus of £37,907. The charity is not required to produce their own Statement of Financial Activities because of the exemption provision in Section 408 of the Companies Act 2006.

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