+ftifli+y Comyny R•glitr•llon Numb•r oe047635 Charlty Numb•r 1118222 TRINITY HOMELESS PROJECTS CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
+(2ifli+y TRINifY HOMELESS PROJECTS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS P•g• Comp8ny Information Dlrectors, Report Independgnl Audllorf8 Report Consolidated Statement of Flnanclal Aclivllle8 Con•olld•l•d Balan Sh••l Company Balanr4J Sheet Con8olld8¢8d Cgsh Flow Sl•l•m•nl 12 Note3 to tho Con801idaltd Flnancl#1 Sialement8 13
+ftifli+y TRINITY HOMELESS PROJECTS COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 R•gl•t•r•d Charlty Numb•r 1118222 Company Nufflb•r 06047635 Dlr•ctor• J Cannon F Garrod (Chair. ResI¢d on 14 June 2024) C Al-Hashimi (Resigned on 20 Febtuw 2024) J Hlcklln R D Kay (Chalr, Appolnled 11 NDvombor 2024) R Odedra Ivlce Chalr, Appolnted 11 November 20241 N Vallol8 IRg$lgned on 5 S8ptfjmbor 2023} R W811• ¢•mpAlly 8•¢r•t•ry S Hedlty R•gl¥t•r•d Offl¢• Trfnlty Hom61888 Projecti Redford House Redford Way Uxbrldge Mlddl8sex U881SZ Ind•p•nd•nt Audltor HaysMa¢ LLP Chart•r•d Accountant8 & Slalulory Audllor8 10 Queen Slreel Plac London, EC4R 1AG 8ank•r• The Co4Jperallve 8onk PO Box 250 Dolf Hou88 Sk•lmersdalo WN8 6wr Bar¢lay$ B8nk Lolcoslor. LelceslerBhlro, LE87, 2BB CAF Bank 25 KSngs Hlll Avanue Klng$ Hlll West Malllng Kènt ME194Ja CCLA InvOnI M8nagem8nl Limlled Thè COIF Ch8rilie¥ Dpp0511 Fund Sl Alphage Hous8 2 Fore Street London EC2Y 5DH Page 1122
+ftifli+y TRINITY HOMELESS PROJECTS DIRECTORS. REPORT FOR THE YEAR ENoeD 31 MARCH 2024 The 'rectorS present Iheir consolidated report and flnanclal slalements for Trinity Homelèss Prolacl8 and Trinity Activi11g$ for th6 year ended 31 March 2024. Tha ¢onsolidal$d financlal $lat8m8nts hava b88n pr6par8d in accordance with th9 aecounling poliei88 sal out In nole I to the financial tslalem8nls and comply with th? charilablfj company's governlng dccumenl, the Companiès Act 2006 and "Accounting and Raporting by Ch8rftlè8.' Slal8m8nt of RecommentJed Praellca appllcabla lo char488 Preparing Iheirfinancial 8talemenls in accordance with thè Flnanclal Rèporting Sl8ndard applicablo In tho UK and RepubliG of Ireland (FRS 102y' {88 amended lor 8ccounling periods GommonGlng Irom 1 January 20191. OBJECTIVES ANO ACTMTIE8 Trtnity Homeless Project$18 a eharflablo ¢ompany limited by guaranloe.11 was incorporated on 10 January 2007. Its m•n obj8cls are to ond homo188sn88s by provldinq hou81ng and homo1888 8orvl¢08 lor people al risk of or 8uff•rlng homele8gnes8, though coaGhlng ènd 8UPPOrt. PU8LIC BENEFIT In accordance wlth thè 8bov8 oblecllve8 lor thi8 year. and wllh duo regard lo the pub118hed Chartty Comm15s1on guld•nc8 on tha operation of tho Public 8gn9fi1 Tequlrèment of tha CharflSe8 Act 2011. Ihg Dlrector8 have undertaken approprlale activllie¥ In furtherance of those aims for Ihg publSc bengfil. This yeaf 8 aclivilles, achlevgment8 and future plans Ère 8ummart8ed below. ACHIEVEMENT AND PERFORMANCE Endlng hom•lM•n••• is a ccfflrnunily ol poorAo. laying a ftsjndaknn lor a soogly of equ¥. through di8legue and con8en8us a woyof livlr¥J logeth•r In lwod, 8nd we have ¢om8 Icg8lhet because we Share Ihe same Msion of a worfd Vthere everytsno hos a h)rne. Trds year have.. Promded hou&ng lor 565 peo8 Holped 156 pla? into Ih•i ngxt homo. Supported 31 farrAlSe3 from ghanistan Ukfaln• to setle in the UK. Our houwng pathway stagnated du& to a lack of move-Dn thi$ year and our to increasè Qur Supported hou8ing olfer dld not progre55. Both Iho$0 iswe8 aro relaled to tha incrnases ift local fenls and locol landloids18awng thè rnatKal du& le changes In le918latlon. We launched a naw Reconnectiony service prowding In.reach lor peoty8 rough 818tpin9. Wg have COrnFdèled our first wdlbeing program and 85% ol th& 8nlire108rn hiv9 bongfittod. Thls programrne has been poworful In ¢ro8n9 community, 3010ty and 5dlonfidence and Ihe effec18 8rD bBing f811 across th8 organisatson. Wfr would lik• to Ih8nk pgrtneryd and wJpportgr3 ha holpod u8 this year. Trlnlty A¢tlvltl•• Furnllure that do••n't cost th• earth. We work lo a triple bollom Ilne of; 8ocSal, onvironm9nt81 and financial oulcom88. Trinity Furniture Stores provlde low cost, pre-owned furnituro to ovor 20.000 peopla In our local arga asw811 a3 300familie8 recelvlng help to move into llgw Social housing. Th18 year we rocyded 378 tons of donated fumllure. This Is equal lo over 1,000 lon5 of C02 or heallng over 350 houses for a year. Trinity cuffenlly has 100 properties, Trinity doesn't cost the 8arth. This year Sawthe expgnslon ofour Uxbridge store and an in¢r6888 in 8ale8 of12%, a gross surplus 0130% and contdbulion lowards haritsble overheads of 24%. Wg'd like to thank all our donors and customer8 foi making this possible. Page 2122
+ftifli+y TRINITY HOMELESS PROJECTS DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUED) FUTURE PLANS We1 nIVe to do¥elop the RIv8rsldg Wrnnts, SEeCeallyth8 bhjge and solar p8nebto tra1 bme and oui Garfojn footprint. There are currenuy 2,800 F4opk In b¢81 hotels awaltiro th8lr stslus. In $)nSe te thi$ are wJrkir¥J to Greate solub'ons for tho Nthnal Asylum Seeker Programme. We are delOpd $borwrortrershIplMIyJ ith Safer N81ghb)urhrrfsTeam. Tflnlty A¢l1vl1• Wa vlll C)ntinUe vith our prtrrShIplkIn9 the LOG81 Athority. promding rn)re to ntr1tenants th8 Uor$¢heme, as11 88 $thIJ abwslde 'Re.use N8kn)rk' wrt¢Nnln9 Lwlrn¢led Gknarms ofK40D pro08. FINANCIAL ACTIVITY The con6olld8led flnancSal 8lalements Show a daftrjl of £18.55412023'. £137,111). Tho Stalemonl ol Flnanclal Acllvllles for Trfn5ty Homg1058 Prolecls shows a surplus for the year of £93,850 {2023.' £115,925) an¢J those of Tdnlty A¢llvllles show 8 d¢fl¢lt of £112,40412023'. £21.186) for the year ended 31 March 2024. Al 31 March 2024, totsl con8011d8led funds were £1,775,13312023.' re51aled £1.793.6871. ResERVE8 POLICY The dlr&clors have revlow¢d the ¢harllable Company's needs for reserves In Ilne wllh the guldance188ued by the Ch8rlty Commlsslon. Thoy have establlshed a pollcy whereby the free reserves Ilh81 1$ those ro$erves not Invested In fixed O$&èts or d6slgnal8d and reslrloled lunds) held by th8 oharftable MpanY should be equal to 12 weèks g8n8ral op8r8llng costs. Thls equate8 lo approxlmalely £1.34m In genèral lunds. Thls tsrgel has bè8n achiévèd. Our lot•1 free reserves are In ex¢es$ of £1.56m and tho Iruslees nsIder thls16vel of free reserves lo be prudent In the11ght of our Impendlng dlre¢t Investment In affordable hou8lng next year. ft18K REVIEW The Senlor Management Team revlews the Rl$k MSllgatlon Plan monthly and report io the eoard on Ihls quarterty. The key rlsk188n Increase In rent arrear8 from tenants gettln9 work and a decrease In social houslng from cuts In local coundl fundSng. These are mlllg8led by alk>wlng a prov18Ion for tenants and encouraglng them lo move Into affordabl? houslng after thèy flnd work and In¢reaslng fundr8l$lng events In order lo bg le88 rellanl on councll fund8. Other major rl8k8 Idenlllled are set out In the table below togelh8r wllh the mltlgallng acuons taken.. Page 3122
+ftifli+y TRINITY HOMELESS PROJECTS DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEOI RISK REVIEW MAIOR RISK ANALYSIS RISK OWECTIVE AcfioN Prepare for competltlve tenderln8 and or audli RISK Protect Inten51ve Housin8 Oependent on revenue from Enhanced Housin6 eenefit Mana8ernent Oiverslfy Incoffle Develop relatlonshlps with RSLS Invest In property mana8ement ènd coachlng Secufe propertles wlthln budget Detailed condltlon suNey5 Nei8hbourhood and Communll Teams Increased void5 and rent Keep arrears ond volds arreafs below 5% Increasln8 Ilabillty through Property mana8ement portfollo Increase ¢apa¢ily in Ilne wlth 8rowth Take over mana8empnl of Direct Access hostel Loss of emergency housln8 Agree rents wlth HB Create TC Develop Home5 Free A8ree term5 of lease Create subsldies In the prlvate sector Develop relationshlps with RSLS Open on tlme and In budget Achleve 95• No affordjble hou5in8 Create affordable housin8 Unable lo dellver Investment cornmltments Make Rlverslde success occupancv Malntaln Ilquldlly Invest In mana6ement functlon Invest In tralnln8 Invest In system management Reputatlonal loss Malntaln and enhance our reputatlon STRUCTURE, GOVERNANCE AND MANAGEMENT The directors of thè charftable enrnpany, who aré dlrectots for the purposes of cornpany law and trustees for the purposes of charity law, who seNed durlng th¢ ptsrlod and lo dots were.. J Cannon F Garrod (Chalr. Resigned on 14 June 20241 C Al-Hashlml IResi9ned on 20 February 2024) R D Kay {Ch8lr. Appointed 11 November 20241 R Odedra Ivlce Chair, Appolnled 11 November 2024) N Valols (Resigned on S September 20231 R Waile Page4122
+ftifli+y TRINITY HOMELESS PROJECTS OIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI STRUCTURE, GOVERNANCE AND MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2024 All the directors must be members of the company and are the only members of the company. Each member oflh8 charfloble ¢ompany 1$ required io ntribUte a maxlmum amount of£1 In the event of the charftsble company belng Ilquldaled wh118t they aro a member or wlthln one year of them c8881ng lo be a membor. The dlre¢tor$ have ¢onfirmed that Ihgy have an aw8rene8s and understandlng of Ihelr legal responslbllllles as summarSsed Sn the NCVO publlcallon, 'The 12 E8s6n31 Board Responslbllllies" 8nd Ih8lr Iralnlng ne¢d$ ore kept under revlew accordlngly. The arrangements for 8ettlng pay and remunerallon of the Chlof Execullve are agreed by the Iru81ee8 and done on an Ind¢p&ndenl pay review ba518. Al Ilmes, TrSnlty finds It beneflclal lo have r618llonshlps wlth ral*led partiès and other charltsble organisallons to coop&rale for the pursull of Ils charflab16 oblecllves. When these relailonshlps exlst, It18 thepollcy of Tdnlty to have 8 8ullable and approprlale Servl¢e Level Agro¢m¢nl In p18¢•. APPOINTMENT OFTRUSTEES Under the Artlcles of Assoclallon, thè 8ervSn9 dlrectors may appolnl addltlonal ¢JlreGtOTS al any Ilrne wlth a maxlmum number 0fe1ve and a mlnlmum oflhree. Trlnlty usually ha8 elghl or nlne Tru8lees. Each yèar tsvo Tru81ees retlre by rot8llon. The r¢¢rullmenl proce8515 run by the Chalr of Trustees and over888n by the Chlef Execullve. Th8 Board Identifles the skllls whlch11 ne$d$ wllhln11. and then actively Seeks people wllh these skllls lo apply lo b8me a Trustee of the charlty. Candldales are requlred to ¢omplete an appllcallon form $8ttlng out dètslls about themselves and thdr sultsblllty for Trusl•e8hlp. Tho80 appllc8tlon8 8r• tr&8led on a confldenllal bas16, revlewed by the Chalr of TN$l•¢s and the Chlef Exo¢ulSva and matchèd a9aln$l tho skllls ¢rlterl8 8Stabll$hed by the Board. Prospecllve Tru8tee8 are Invlled lo attend a number of Board Meetlngs a8 an observer. The appolnlmenl of a Tru$l¢e doe$ not lake effect untll h• has slgned the prescrfbed Comp8nle5 House fomi. and the appolnlmenl of any prospecllve Twslee who ha$ not done so wllhln on month wlll lapse unle88 the Board msolvos Ih81 Ihore 5$ good cause for the delay. The Comp¥ny MUBI havg a ChalT and a Vlce-chalr. Both are to be elected by the Board. The Board musl dedde the perlod durfng whlch they are ea¢h lo hold offi¢e and the preclse polnl at whlch thelr term of offlce ends. Both Ihe Chalr and ihe Mce-chalr may be re-elected. The Chalr and th8 VIce•Chalr may re$lgn from Ihelr po¥ilions 81 any tlmeallhough they may remaln as Truslee5. DIRECTORS. TRAININO Because poor governance costs more than lèarning to govern well. the board Invests In Ils governance capaclty. Tralnlng and re- Iralning Is US lo orient new members as well as increase èxSstSng member skills and understsndlngs. Both Chair and Vlce-chair reGelve specific Iralnlng regardlng chalrlng meellngs 8nd the board attend an annual day away. Outslde monllorlng asslstance 1$ also arranged so that the board can exercSse confident control over organlsatlonal perfomiance, including bul not limited lo fiscal audit. Mechanlsms are used to ènsure the board's ablllty to Ilsten to the beneflclarles vlewpolnls and values. Governance costs are prudent though not al Ihe expense of endangering the development and mainlenance of 5UP8rior cppablllty of the board. The dlreclors have delegated the day.lo.day management oflhe tharitable Company lo SI8V8 Hedley, who provldes a wrltten report to eoch meellng of the dlreclors, whlch 8re held approximately quarterly and 15 also In regular Gontact with direGlors bets¥een meetings. Steve Hedley Is supported by a team of sensor directors that comprises of the Chief Operating Officer lunlil February 20241. the Director of Servlces and the Finance Dlreclor. Page 5122
+ftifli+y TRINITY HOMELESS PROJECTS DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI RESPONSI8ILmE8 OF THE DIRECTORS The Directors are responsible for preparing the Direclor8' Report and the flnancial slalemgnts in accordance wilh applirable law and Unlled Kingdom Accounllng Standards Iunlled Klngdorn Generally knepled A¢¢ounling Pracli¢el. The law applicable to charitie5 in England and Walès requlr8S the Directors lo prepare financlal stalemenls for each finandal yèar. which glve 8 true and f81r vlew of the slate ol affalrs of the charitable company and of the inex>mlng resources and applitstion of resourcès oflhe charftable company for th81 year. In preparing Ihe$e flnando18tatemenl8, the 0Srectors are required lo.. 8elecl sullablo accounllng p)licSes and then apply them ¢cffl3lstenlly,'obseTh¢ Ihè mèthod8 and prlnclples In the Charlues SORP.. make ludgement8 and esllmales that are re8sonable and prudent: stale whelhef appllcable a¢Unng standards have been followed, sublecl lo any malerlal departures dlsdo$edand explain&d in the accounts., and prepare the financlal statements on the golng concern bas15 unless11 is Inappropriate lo presume Ihal th¢ tharlty w511 ntInue In operallon, Th8 Dlrectors are re8ponslble for keeplng 8dequalo a¢untIng w¢or(is that dl$¢lose with reasonablè acLuracy al any Ilme the financ481 posltlon of tha charllable comp8ny and enoblg them 10 trnsur¢ th81 the financlal slalemenls compty wllh the CompanSes Act 2006. They are also responsible for Safeguardlng Ihg 43sets of the charlt8ble company and hence for laklng reasonable steps for the prevenllen and delectlon of fraud and other Irregul8rlllo$. DISCLOSURE OF INFORMATION TO AUDITOR Each of the DlrectOf8 has conflrmed that there Is no Informatlon of whlch Ihey aré awara whlch Is r816vanl to the oudll. bul of whlch thè audltor Is unaware. They have further cA>nfirmed th81 they have taken approprSale Slepy lo Idenllfy such relevant Infomallon and lo eslabllsh Ihal the auditor18 oware ol such Snlormallon. These flnanclal slalemenls have bts8n Pfeparod in a¢cordan¢e wllh the provl8lon8 appllcable lo companles subject lo the Small companles, reglme. BY ORDER OF THE 80ARO Redford House Redlord Way Uxbridge Mlddles8x UB81SZ S H•dloy Comp•ny 8•¢r•l•ry Date.. 11 November 2024 Page 6122
+ftifli+y TRINITYHOMELESS PROJECTS INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERSFOR THE YEAR ENDED 31 MARCH 2024 Oplnlon We hav8 audited the financlal statements of Trfnity Horneless Prol8cls for the year-ended 31 March 2024 which comprise the Consolldated Statement of Flnancial AcliviliBS. thB Consolidated and Charitable Company Balanco Sheets and the Con8011date¢J Cash Flow Slal8menl and notes to the financial statements, including a summary of significant acccunlino policies. The financlal reporting framowork that has been applied in their pr8paralion is applicabl8 law and United Klngdom Accounllng Standards, Including Financial Reporting Standard 102 The Fln8nci81 Rgporting Stondard oppliGablg in the UK 8nd RepubliG oflreland (United Klngdom Generally Accepted Accounllng Practlcol. In our opSnlon, the financial slalem8nts'. glve a true and falr vlew of the slal& of the group'$ ond of Ihg parent Gharftsblg Gompany's aff81r5 85 at 31 March 2024 and of the group'$ and par•nl ¢harllable company'5 ng1 movomgnl In fund8, Includin9 thg Income and gxpendilur8, for the year then ended. have beon properly prepared in accordance wllh UnS16d Klngdom Generally Accepted Accounllng Pr8CtiCe; 8nd hav8 b8en prepared In accordanc8 wllh tha raqulrements Of the Compani&$ A¢1 2006. B•¥l• for oplfilon W8 conducted our audll In accordanc8 wllh Inl8malitsnal Standards on Audillng IUKI IISAS IUKII and appllcable law. Our re8ponslb1111I88 under th08a 81andards arè further de8crlbed In Ihg Audito$ rgsponslb11ilie8 for the audit of the financlal slatemenl8 8o¢tlon of our report. Wè arè indgpend8nl of the group Sn accordance with the ethical requlrement8 Ihal are relavanl to our audit of the financial 8talemenls In Ihe UK, Includlng th8 FRC'S Elhlcal Standard, and we hava fulfllléd our olhar elhlcal ré&ponslbililiès in accordance wlth these requifomenl8. We bèlieve that th8 audll evldence wé havè oblalned Is sufflclenl and apwopriat8 to provide a b0818 for our oplnlon. Con¢lu•lon• r•latlng lo golng ¢onc•rn In audltlng Ihg flnanclal 8talam8nl8, wa have concludgd that tho dlre¢lor8' uso of tho golng ¢on¢orn ba818 of 8¢unI1ng In the prep•rallon of th8 flnanclal 8latgmgnts18 8pproprlalo. Ba8ed on Ihg work we have performod, we have not IdgnlSfled any mal8rlal unc8rtalnll88 rel8llnp to events or condition8 that, Indlvldualty or collectlvely, may ca818Sgniflcanl doubl on the group's #blllty to conllnue as a goln9 concem for a perfod of at leaBI valve monlh8 Irom when tha financial Blolgmgnls are aulhorlsed for158Ue. Our respon8lblllllo8 and the re8pon81bllllie5 01 the dir8clDr8 wllh re8pecl to golng concern are d88crlb8d In the r818vanl 8ecllon8 of th18 report. Olh•r Infaimatl•n The other Infomiallon comprf8eg the Infomijtlon Included Sn Ihg annual report, olhor than tho financlal 8lalèm•nl8 and our audllor'8 report Ihereon. The dlreclofs are r88pon8ible for th8 other Information. OUT oplnlon on th• fin8ncigl slal8mBnls doBg not cover tho olhgr inlormallon and. gxcepl lo Ihg ex19nl otherwi89 gxplicltly 8131gd In our report, we do not expr888 any fomi of assurance nclu¥lon Ih¢rfjon. In wnngrtlon wilh our audll of th9 finonclal slalgmenl8, our respon8lblllty18 to read Ihe other Inlormallon and, In dolng so, conslder whether the olhgr Infomiallon 58 mal8rlally Incon818lenl with tha flnancial 818tem8nts or our knowlodge obtained In the audll or olherwS8e appear8 lo be rnalerially miss1818d. If wg Idgnlify such matgrial Inconsislencies or oPP8renl malgrial m1851alemen18, wa are requlr8d lo d8termlne wheth&r Ih8re1s a matsrial mi5slat9menl in tho financial s1919men15 or o material mi¥¥lalèm8nl ol the other inlormatlon. If, based on th9 work we have perform8d, we conclude that there18 a mal8rlal mlsslalemgnl ol this other information, we arg rgquired lo rgport that fact. We have nolhlng to rèport In th18 regard. Oplnlon• on oth•r matter• pr••crlb•d by tho Compan1•8 Act 2006 In our oplnlon, based on the work undertakèn in th8 Gour50 of thg audll.. the inlormalion given in the directors, report for the financlal year for whlch the flnanclal 8lal8m8nls 8re prepared Is conslstent wllh the financial slatemenl8,' and the dlreclor8' report has been piepar8d In accordanc8 with applicablo legal r8qulremenls. Matt•rs on whl¢h w• •r• r•qulred to report by •xc•ptlon In the lighl of the knowledge and understanding of th8 group and the parent charitable compgny and Ils envlronment obl8in8d In the couTse of the audit, we have not id8nlified material misstatements in Ihg directors. report. WB have noihing to report In respect of the followlng matter8 In relallon to whlch the Companies Act 2006 requires US to report to you If, In our opinlon.. adequate accounting records havè nDI been k8pI by the parent charitable compBny.' or the parent charitable company financial slal8rnenls are not in agreement wSlh the accovnllng record8 and retum8: or Cgrtain disclosures of directors, remunaration Specified by law are not made.. or we havo not rece6ved all the Information and explanations we requirè for our audit.. or the dlreclor8 were not en11118d lo prepam thè finanGial statsmenls in aGcordoncg with Ihg small companles. reglmo and tsk8 advantage ofthe small compani95' exemption5 in prgparing Ihg direclor8' report and from the r8qulrem8ntlo pr8P8re a 8lr8legi rgport. Page 7122
+ftifli+y TRINifi HOMELESS PROJECT8 INDEPENDEMT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023 ICOIITINUEDI Rèspon•lbllltl•• of dlr•ctor• As explainad more fully In the dlreclors. responsibillligs statement set out on page 6, the dlreclors 8ro respon81ble for tha preparation of the financlal slalements and for being satisfied that they give a true and fair view. and for such intemal conlrol as the directors del8rmlne Is nec898ary to enable tha preparation of financial $18lemants that are free from material misstatemént, whether due lo fraud or error. In preparing the financial slal8rn8nls. Ihe dlr8CtOfS are re8pon8ible for 8y$es8ing th8 group's and the p8renl charflable company's ability lo continue as a going concern. disclosing. as appllcable, matters related to going concern and u51n9 the golng concem basis of accounting unless the directors alther intend lo liquldalo Ihg Gompany or lo cease operaflon8, or have no rgallstl¢ allernatlve bul to do 80. Audltor'• r••pon•lbllltlo• for lh• audlt ol tho fln•nclal 8tat•m•nts Our objeollvg5 arfj ¢0 obialn reaBonabl8 assurance about whether the flnancial 8101gmgnls as a whole 818 fr88 ffom malerfal mlsslalemenl, whether due lo fraud or grror. and to i8sue an audil0rf8 report that includes our opinion. Re880nabl8 assurance 18 a high level of assurance bul is nol a guarantsg that an audit conducted in accordance with ISAS IUKI 11 always d8lecl a malerlal misslalemenl when It exi8ts. Mi881alemenls can arise from fraud or arror and are considered malgrial If, indlvldually 01 in the aggregate, they could reasonably be expected lo InfluonGe the economlc d8cision8 of u88r8 taken on the b8s1$ ol Ih9se financlal Blalem8nl8. Irregularities. Includlng fraud. #ré Instsnce8 of non-compliance wlh laws and regulallons. We design procedure8 In Ilne with our responslbillli8s, oulllned above, lo delect malerfal ml881alemenls In rgspecl of Irregularlll8s, inGluding fr8ud. The exlenl lo whiGh our procedures ara capable of dalacting Irregulafitle8, Includlng fraud is delailgd bglow.. Based on our undar81andlng of the group and tho onvironmonl In which 11 operates, we Idenlllbgd that th• prindpal rl$k8 ol non- ¢ompllance wllh laws and fegulalions rolalgd to 8oclal hoLFslng. Safeguarding, employment and health and Salety regulallons and charity18w. and we consldeied the exlènl to which non-compllance might havè a material effect on the financlal 8tslem8nls. W• also consldérèd tho88 laws and regulations Ihal have a dlrect Impact on the preparation of the fln8ncial 8lalem8nls $uGh as includo the Companles A¢t 2006 and the Charllles Act 2011, and conjidergd olhgr factors such 48 In¢om• lax, payroll lax and 8alos lax. We evaluated mAnagem•nt'$ in¢•nlivès and opportunities for fraudulent manipulation of tho flnan¢lo18latem8nt8 Ilncludln9 the rfsk ol override ol contro18}. Audit procgdurg8 P9rformgd by the engagemanl team included.. Inspecting correspondence wllh r8gul8lor8 and lax aulhorilig$; Discussions with management Including consideration of known Dr 8USP8cl8d in8lance8 of non-compli8n¢o laws and rggulalion and Iraud: Evaluating managgmgnl'g controls designed lo prevent and detect irrtsgulari1188; Idenllfylng and le51ing jouma15', and Challenglng assumplions and ludggrngnls made by man8gemenl In Ihelr accounting 951imalo8 Assassmenl of Idenllfied fraud Tisk faclor8- Performing analybGal procedures lo identify any unu8U81 or unexp9Ctgd relalionshlp¥, Including r6lal8d paty tran88cllon8, Ihal may Indicate rlsks of fflalerial mls8ts18ment due lo fraud., Conflrmalion of related parti88 with managèment. and revlew of tr8nsacllons Ihroughoul th8 period lo Ident any previously undl8closed Iransaotlons wllh related parlies outside th8 normal course of bu8in955,' 8nd Readlng mlnules of meetings of th059 char9ed with governance. Because of th6 Inherent Ilmltatlons of an audll, there Is a risk that we will not delecl 811 Iri8pularllle8, Includlng those leadln9 10 material mi8Stalem8nt In the flnancial slalement8 or non.complian¢g wllh regulation. Thls rfsk Increases the more that compliance with a law or rogulalion 1$ removed from th8 ev8nl8 and transactions reflgclgd in Ihg financial stal8mènl8, a3 we wlll be less likely to become aware of inslances of non-compliancè. Thè risk is also gr&8ler regarding irr8gularitias occurring duè to fraud rathar than error, a8 fraud Involve3 inténlion81 conce8lm6nl, forgery, collusion, omission or ml$represenlalion. A further description of our sponsIbIlitIeS for the audit of IhB financi81 slalements is located on the Financlal Rewrting Council's wgbsilo al.. www.frc.org.ukJavdltor8re$ponsibillllas. This doscriplion form5 part of our auditor's repor1. Us• of our rnport Thls raport18 mad8 solaly lo tho company's m8mb8Tr, as a body, In 8ccordanc8 wllh Chapter 3 of Parl 16 of the Companies Act 2006. Our audll work has beon undartaken so that we rnighl s181e lo the company's rnembers thos8 matters we are required to 81818 to them In on Audllorfs raport and for no olh8r purpos8. To the fullest extent pemiitted by law. we do not accept or assume responsibility lo anyone olher Ihan the company and Ihg Gompany's members as a body, for our audit work, for this report. or for the opinions we have fomed. Leo Stokas (Senior Slalulory Audilorl For and on behalf of Haysmac LLP, Slalulory Auditor8 Dal9= 10 Queen Street Place London Iq ILCXL EC4R 1AG Page 8122
+ftifli+y TRINITY HOMELESS PROJECTS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIE5 (Includlng In¢omo and Expondltur• account) FOR THE YEAR ENDED 31 MARCH 2024 Restated Totol Funds 2023 Tot•1 Funds 2024 Unr•slrfrt•d A•i¢rlrt•d Fund5 Funds Unrestrlcled Fund5 Rtstylcled Funds Not• Irom• Irom: Don•tlon5 and slmll•r Income Attlvlfl¢sfvro¢n¢rutlny fvnds Tradin8aCtlvltle5 Invesirn¢nt Income and Inteiest Income from charltable •cllvllles Tat•l IrKom• 9423 94.823 246.421 3,5CAI 249,922 642,Q35 1,348 4 602 342 642.OJ5 1,>48 4 602 142 645.843 697 4 181,176 5 074 238 645.843 697 4,195,176 638 Exp•ndlturn on.. Advertl$lni 6.867 6,067 S851 5.8SI cthrtt•bl• •rtfvltl•s Chorltible expendlture Tot•1 Exp•ndltur• 5,3S2,235 5 359 102 5,352.235 5,359,102 4,931176 4,937,027 17.5LY 17,5CV 4.948.676 4,954,527 N•tl*Kom• 118,5541 118,5541 137,111 137,111 N•t mov•m•n¢ In lund• 137,111 137,111 Ill•ilonof fvndi., Balance biouoht Iwward per 2023.. Prior year restatement 11 1,888,687 18 195.OCV I 1,180,6B7 195.(#X) I 1751,576 1,75J.576 ••l•nt• tarrl•d forward 11 1775 13J 775 113 There were no recognl8ed galn8 or losses other than the resuli for the year. All operauons classed 8$ Conllnulng. Tho note• numborod 1 to 18 form yrt of th••• fln•ncl•l 8tat•m•nt•. Page 9122
+ftifli+y TRINITY HOMELESS PROJECTS CONSOLIDATED BALANCE SHEET AT 31 MARCH 2024 Note Z024 Restoted 2023 FbM•d l•ti T•n8lble A55tS 4.147.358 4.138.337 Curreni Asiets Debiofs and prepayments Cash at bank and In hand 584,860 897,363 1.482,223 496,3251 593,054 875,987 1.469,041 426.180 crltorS. Amounts l•lllni du• wlthlnone year N¢¢ Curfenl As#•ts 985,898 1,042,861 Cr•dbtois: Amounts f•lllnidu• •lter tsn•y••r io 13,358,1231 13.387.5JlJ N•t Ass1 1775 133 1793 687 C•pii•l •nd fts•MI Unrestrlcted Funds General Funds Desly)ated Fund5 Tot•1 Funds 11. 12 11,12 1,563,874 211,259 1775 133 1.616.239 177,448 1,793,687 These flnancl81918lemenl3 hgvo boon prepared In 8CcOrdan wlh the spec181 provlslons for Small ¢ompanles under Part 15 01 the Comp8nles A¢1 2006. Thes• flnanc are Slgnfjd 18lement8 were aulhorlsed and epproved for18sue by the dir•clor8 on 1 Ilh November 2024 and eh811 by.. R W8lte- Dlrectoi and Truslee coMnY no. 06047635 Page 10122
+Oifli+y TRINITY HOMELESS PROJECTS COMPANY BALANCE SHEET AT 31 MARCH 2024 Ng¢e 2024 2023 Flxed Assels Tan8lble Assets 4,133,112 4.120,300 Cufrenl Assets Debtors and prep•ymenis Long teim Debtors C•sh at bank and In h•nd 538.132 164.240 724.574 1,426,946 461.204 514,982 174.505 72J.622 1411,109 497,017 Credl¢ors.' Amoynts f•lllni du• wlthln on• y•wr NetCvrr¢nl A15•tS 965.742 914,092 Cr•dltors: Amounts lilllni du• •ft•r on• y••r io 13,358,123) (3.387,511) 1740 731 1646 881 C•pS11l and Resorvos Unre51riaed Funds General Funds Desl8nated Funds Tot•1 Fyndi 11, 12 11, 12 1,529.472 2112S9 1740 731 1.469.433 177,448 1646 881 The3e fln8nclal slalomenls have been prepared In accordance wllh the 8pecl81 provlslon8 for 8m811 companle8 under Part 15 01 the Compan188 Act 2006. Th88e finan¢lfjl $lfj1gm•nl8 w•r• aulhorf#•d and approved for Is$u• by th• dlreclors on 111h Novemkr 2024 and •ro $1 n Ihelr behglf by.. R Walle- Dlreclor and Tru81ee Company r. 06047035 Page 11 122
+ftifli+y TRINITY HOMELESS PROJECTS CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 C8$h Ilowsfrom opei•¢ifii •ctlvhl C¥$h gener•ted from op•r•tloni 182,594 139,636) Investlnlactlvltles 1133,1781 11,Q&3.2731 Purchaseol tanwblt Ilxeij as$¢t$ Intore5tiecelved N•1 ¢ishi•n•r•t•d fromlluied Inlln¥e$iini8clfvltlti 697 1,062.5761 131,830 Flnancln8•CtfvItI•i NewbDrrowing$ Repaymeniolborrowings N•i¢•$h y$•d In Iln•n¢lniictl¥ltl•i 3,356.123 3.387,511 129,3881 3.387.Sll .312.068 1.075,443 N•t Incr•4i•ln ¢a•h ¢iih •qulval•ni• 21,J70 126,7691 Ciih Ind ¢aih •qulvalenlJ •¢th• b•ilnnlniolth•y•ar 876.987 Ciih ind c••h•qul¥alenii itth• •nd olth•y•ii 897,363 876,987 RECONCILIATION OF NET MOVEMENTIN FUNDS 2024 2023 Surplus forttte year 118,554) 137,111 Adjustments lor: Depreclatlon charges Investment income Dlsposal of fixed assets Ilncreaselldecrease In trade debtors and other receivables (Decreaselllncrease in irade credltors and other payables 121,602 {1,3481 2,555 8,194 70,145 68,659 (697) (432.368) 187.659 Net cash from operatlng acllvllles 182,594 (39.636) Analysls of cagh and cash equlvalents 2024 2023 Cash al bank and In hand 875,987 902, 756 Cash inflowllouttlowl duringthe year 21,376 (26, 769) Total cash and cash equlvalenls 897,363 875,987 Tho notss numb•r•d 110 18 form part of thè80 Ilnanclal •tat•ments. Page 12122
+ftifli+y TRINITY HOMELESS PROJECT8 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Charity Inforrnatlon Trinity Horneless Projects Is a Gharilable company limited by guarantee inGorpor8led In England and Wales. The address of the registered offlca is given on the legal and administrative infomialion page. The nature of the charfty's operalSons and principa1 acllvilles are lo end homelessness ty provldlng houslng and homeless servlces for people al rlsk ol or sufferfng homelgssness. vocational and skllls tralnlng through coathln9 and support. •) A¢¢ounllng conv•ntlon The flnanclal slalemenls have been prepared In arKordance wllh the charllable company's govemlng documenl. the Companles Act 2006 and 'Accounllng and Reportlng by Charflles.. Slalement of Recommended PractSce appllcable lo charllles preparlng their accUniS In aaranCe wllh the Financial Reporting Standard applicable in the UK and Republlc ol Ireland {FRS 1021" las amended for accountlng perlods commenclng from 1 Janu8ry 2019}. The charllable Gompany Is a PubllG 8enefll Entity as defined by FRS 102. Tha flnanclal 81alem8n18 are prepared on a golng concern ba818 und8r ihe hlslorlcal cost cAJnvenlon, modlfied to Include certaln Items al falr value. The financlal slalemenls are presented In slertlng whlch Is Iheluncllonal currency of the charlty and rounded to the naaresl £. Tha $1gnlflcant a¢counUng poll¢le8 applled In the preporallon of these flnan¢lal Slalemenls are sel out below. The88 polldes hove be•n ¢on$lslently applled lo all years pr¢$¢nled unle$$ olheThYl$• stated. b} Golng conc•m Al the Ilme of approvln9 the flnanclal stalemenls. the Dlr8Ctors have a reason8ble expectallon that the charllable company has adequate resOue8 lo contlnue In operatlonal exlslence for the foreseeable future. There are no fundamonlal un¢ertalnll¢$ about the charlly's abillly to ¢xnllnue as • golng ¢on¢ern. Thu8, the Dlre¢tors ¢*nllnue to adopt thè golng eoncem basls ol accounting In prèparlng the Ilnanclal ststements. cl Inm• Income18 recognl8?d In the perfod In whlch the charltable MPany18 legally enlllled to the IoMe, 18 more Ilkely than not lo be recelved and the amount can be quanufied wlth reasonabl• 8C¢Urn¢y, Grants from government and other agencles have been Included as InLyJmlng resour¢es from charlt8ble acllvSlles where these amount lo a GonlraGI for 59rvl¢es. Donollons are the amount where the mon8y18 glven In response lo an 8ppeal or wllh greater freedom of use. Rent and Housing 88neflls have been Included 88 Income from tharftsble acllvllles and Income Is recogni¥ed when the group Is legally enlltled to 11. Glfts donated for resale 8re InGluded as InrA)mg when they are sold. No amounts are Included In the n$011ted finandal siatements for servlces donated by volunleers. Other glfts In klnd 8re Included at thelr esllmaled value to the group al the Ilme of reGelpl. Tumover Is measured al the folr value ol the nSIderatIon recelved or feoelvable and represenls amounts receSvable for good5 and servi¢e5 provlded In the normal course of buslne5S. dl Expendltur• Expenditure Is aceounled for on an accrual basis, including VAT where Ihls cannot be recovered. Certain expenditure is dlreclly attributable lo speclflc aclivlllgs and has been allDcaled to those cost cale9orles. Where these cos15 are attributable lo more than one activity. they have been apportloned to the individual aclivllies on the basls of the tlme spent by staff on matters relatlng to those aclSvltles. Central support costs have been 811ocoted on the basis Gf resources used and have been 8PPOrtioned lo the cost Gentres of fundralslng ond publicity, individu81 projects wlthln charitable expenditure and govern8nee costs in accordance with the requlremenls of the SORP. Govemance costs Induded wlthln charltable aclSvllles comprfse all costs relallng lo the publiG auntabIlity of the group and its wmpliance with regulation and good praGliGe. These Costs include ¢ost5 relating to the slatulory 8udll. Page 13122
+ftifli+i TRINITY HOMELESS PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI •) T•nglbl• Flx•d A•••t• Tangible fixed ssets arè initially measured Èt cost and Subsequently measured al cost or valuatkn, net Ofdeprecla0n and any impairment losses. Depred8lon Is calcldgted to wrrle off the cost of 8n asset. less Its eslim8led residu81 value. over the useful economic life ofthal asset a5 follows.. Land Building Computer equlpmenl Molor vehides Fumiture & fittlngs Leasehold lfflprovements Nil depreciation 50 years slralghl line 25% straighl line 25014 slraSghl Ilne - evenly over 8 years evenly over the rernainlng term of the lease Items of equipment 8reonly capltallsed where the purchase prlce exceed8 £1.000. Bulldlng depredatlon I11 commence when the propety Is In use. C••h •nd cJ•h •qulv•l•n¢• Cash and c45h eqValentS indude c4sh In hand. deposlls h¢ld #t c411 wlth banks, other 8hort-tem Ilould Investments and original malLtritles of thrèe rnonlhs or less. 91 D•b¢or• Trado and olhor d•blor8 ar• rwnl$ed al lh¢ $olllem¢nl amount. Prepaymenls are valued al Ihe amount pr8p81d. h) Ll•bllltl•• ond provl•lon• Ll8t4lltle5 are reGognl8ed when there 1$ an obligation at the balan¢e sheet data ol a past 8venl.1115 probable that a Iransler of economlc benefit wlll be requlred In settlement, and Ihe 8mounl ol the 8ettlemenl ran be eslimaled rellobly. Llab51ill¢$ are recognlsed al the amount the Charity anllclpales il wlll pay lo settle the debt or the omounl It has recelved as advanced payments for the goods or $ervlces11 musl provlde. Provlslons are me8sured at the best esilm8le of the amounts requlred to sèttlo tho obllgallon. Op•raiin¥ l•••• •gr••m•nt• Renlals appllcable to operallng leases, where substantially all of the benefits and rSsks of owner$hip remaln wllh the lessor, are charged agaln81 income on 8 81ralght Ilne ba81s over the pertod of the lease. P•n•loni The charlt8ble company contdbules lo the personal pensSons of certaln employees. The charltable company also operates a defined contributlon penslon scheme for 811 members of staff. The assets of the schemes are held separately Irom those ol the charitable company In independently 8dminlstered funds. The annual conlrlbullons paid lo both schemes are¢haiged agalnsl Inwme. in thè yèar to whieh they relate. kl D•v•lopm•nt lo• Trlnity Homeless Projects recelved a development loan of £3.2m from Social and Sustalnable Capllal {SASC) In November 2021 for the refvrblshmenl of a hotel (Rlversidel Ih8t was converted lo 41 affordable sludlo flats. The loan was refinanced in November 2023 and the interest r81e w88 6.1°A fixed for flve years. The loan value at 31 March 2024 was £3.358,123. Slarung Irom finandal year 2022-23. the buildlng 1$ depreclaled over 50 years on stralghl-llne basis. i) employw b*n•fit• The cost of any unused holiday enlltlemenl is recognised In the period in which Ihe employee's seThlce Is received. Temilnallon benefiis are recognised immediately as an expense when the Gharilable company is demonstrably committed lo lerminale the &mOYment of an employee or lo provide lermlnation beneflts. Page 14122
+ftifli+i TRINITY HOMELESS PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) rnl Tax statu• The charlt8ble eompany is a registered Gharity wllhln the dellnlllons of section $06111 Income and Corporalion Tax&s Act 1988 and therefo il is not assessable to corporalSon lax on any surplus charitable funds. n) Funds accountlng Fund8 held by the group are.. ufrires117ciedgeiiei.filfiiiid5- Ihese are fund8 whlth ¢an be used in occordance wlth the chadtable objects al th8 dl$¢reUon of the dlre¢tor$. Desigiioiedfiiiids .Ihe8e are funds set aslde by the dlreclors out of unre51riGted general funds for speclflc fure purposes or prolects. The dlreclors make transfers behveen lunds when expenditure of • re$lrlGied nolure Is to be mel frorn more than one type oflund. The maxlmum 18vel of these transfers18 agreed by the dlre¢tors prlor lo th• exptsndllvre. The nalure and purpose of each lund Is oxplalned further In the notes lo th• ¢on$olldaled flnonclal 6talomonl$. INCOME FROM CHARITABLE ACTIVITIE8 Total Fund$ 2024 rotal Funds 2023 Unr•itrl¢ted A•$irl¢t•d Fund8 Fund8 Unfestilcted Funds Restflcted Funds Grants & Ccnlracls Hotsslng Beneiiisand Rent Other 582,879 3.597.564 421,899 1582.879 3,597,514 421,899 522,532 3,395,204 263,440 14.000 536,532 3,395,204 263,440 4,e02,342 4,602,342 4,181,176 14,000 4.195.176 CHARITABLe EXPENDITURE Total Fund• 2024 rotal Fund5 2023 Support COSti Support cosrs Dlr•¢i ¢MIi Dlrècicosis Stall costs MoloF runnlnBCOSt5 Property Eveni costs Shop costs Insurance Tralnlndand iecruttment Off Ice costs Marketing Depreclatlon Bank charges & Interesi O¢hercosis Governancp costs 1.871.379 55.7 2.291,937 2.376 65.276 46.095 70.135 58,476 11,275 8.290 194,367 439.234 1,871,379 65,766 2,291.937 2.376 85,276 46.OP5 70.135 68,470 11,27S 121.602 203237 S2214 32,167 1.809.427 28.211 2,209.089 382 67,Q54 32.198 34,949 65.264 5,025 7,505 209,320 343.129 1,809.427 28.211 2,209,089 382 $7.054 32,198 31.949 65,264 5,02S 68.659 212.023 386.881 29,514 113,312 8.870 B3.280 32,167 61.154 2,703 43,752 29.514 5.114.606 237,629 5,352,235 4,811,553 137.123 4,948.876 Page 15122
[41 +ftifli+y TRINITY HOMELE88 PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINVEDI NET INCOMEiiexpENDITUREI Thls Is ststed after chargln9: 2024 2023 Payments under operating leases Depreciation Auditors, fees: Audit 1,537,816 121,602 31,826 1,464,506 68,659 29,169 STAFF COST8 2024 2023 Wages and salaries Soclal Security costs Pension expense 1,651,831 162,009 57,539 1,592,466 161,590 55,371 1,871,379 1,809,427 Redundancy payments of £NII were made In the year (2023: £16,667). Ex-gratia payment of £43,333 was made In the year to members of staff followlng thelr redundancy (2023: £NII), The average number of staff employed durlng the year was 45 12023.. 47). The number of employees whose employee beneflts (excludlng employer penslon costs) eXeded £60,000 were: Group 2024 Group 2023 In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 There was no remuneration for d1CtOrS In the year to 31 March 2024 (2023: £NII). During the year remuneratlon to key management totalled £344,227 (2023: £322,246). Page 16122
+ftifli+y TRINITY HOMELESS PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) FIXED ASSETS Land Ind Lo•s•hold Ildlng Improvements Motor Furnltur• •nd Vehlcles Flttln IT Equlprn•nt Group C05t OF v•ly•iion At l Aprll 2023 Addltlons Dlsposals 4,144,851 89,049 76,2 4,5fJ) 4,380 24,9C4J 17,642 4,098 43,904 4,287.679 10.631 133,178 12,5551 12.5551 At JI M•r¢h 2024 4 233 900 81,402 51,980 4,411,102 Dopr•cl•tlon At l Aprll 2023 Char8e lor the year DIsp05315 51,234 104,248 55,108 9,017 4,380 2,075 11,478 1,225 27,142 5,037 149,342 121,602 At JI March 2024 155A82 455 12,703 32,179 270.944 At JI March 2024 4.078AI8 19 •01 4 147 35• AtJl M&Kh2023 4,093,617 6,164 332 L•nd •nd L•ihold 6ulld1 Improv•m•nt• Motor Furnltur• •nd V•hlcl Flttln IT Equlpm•nt Comp•ny Coit orvaluatlon At l Apill 2023 Addltlons Dlsposals 4,144,8SI 89.049 33,637 7,045 4,098 43,903 4,229A36 10.632 128.679 12.5551 12,5551 24,91XJ At 31 M•r¢h 2024 4,233,900 33.637 51.980 4 355 560 D•pre£l•tlon At l Aprll 2023 Charge lorthè year DIsp05als 51.234 104.248 30,074 S33 881 1,225 26,947 5,231 109.136 113,312 2,075 At 31 M•rch 2024 155.482 30.607 1075 1106 32,178 22Z848 At 3114•rch 2024 4.078A18 825 9.037 02 4 133 112 At31 2023 4,093,617 3,563 16 956 4 120300 All th• •wets JM u•l fw •¢lIvltl In furthr•n¢• of th• group's obJ•¢t••. Page 17122
+ftifli+y TRINI HOMELESS PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINVEDI DEBTORS Restoted Group 2023 Group 2024 Companv 2024 Compony 2023 Trnde debtOf$ Prepayment5 Otherdebtors Accrued Income Amounts due from related undertakln8S 40.65J ZZ5,909 150,966 167,332 22,075 220,590 97,519 167,331 30,616 75,190 236,247 140,913 140,704 56,530 230,950 86,798 140,704 514,860 538 132 593,054 514,982 LONGTERM OE8TORS (COMPANY ONLY) 2024 2023 Trlnlty Activitles 174 505 On 2nd Au8USt 2010, the dlrectors of Trlnlty Actlvltles and Trlnlty Homele55 Projects, the parent company, agreed to convert the intercompany balance between the two charltable companies at that dale into a long term Interest free loan. The repayment terms of the loan are for repayments to be made In equal annual instalmenis over a perlod of 27 years from 31 Marth 2014. The amounts recelvable at the year end are as follows- Debtors more than one year 2024 2023 Due Withln l year Due withln 2.5 years Due after 5 years 10,265 41,060 112 915 164,240 10.265 41,060 123,180 174 505 Page 18122
+ftifli+y TRINif( HOMELESS PROJECTS NOTES TO THE CON80LIDATED FINANCIAL 8TATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI CREDITORS.. Amounts lalllng du• wlthln on• y•ir Group 2024 Companv 2024 Group 2023 Company 2023 Trade credltors Taxes and Soclal Securlty Accruals and deferred Income Other credllors Amounts due to related undertaklngs Penslon 190,340 39,148 243,786 184,906 31,828 225,748 138,138 137.344 8.517 238.660 13,732 91.531 7.233 256,968 13,732 23051 18,722 496 325 426180 497,017 10, CREDITORS: Amounts falllng due •ft•r on• year fjroup 2024 Company 2024 Group 2023 Compony 2023 Loan 3,358,123 3,358,123 3,387,511 3,387,511 Amount repayable wbihln Due wlthin l year Due wlthln 2.5 year5 Due after 5 years 264,613 1,058,970 2,034,540 264,613 1,058,970 2,034,540 143,728 270.047 2,973,736 143, 728 270.047 2,973, 736 3 358 123 3 358 123 3 387 511 3 387511 Rlv•r•ld• Ap4rtm•nl• l• th• ••curlty of the loan. Th• term of th• loan li 6.1% flx•d lor flv• y•*r•, Page 19122
+ftifli+y TRINITY HOMELESS PROJECT8 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEO) 11. MOVEMENT OF FUNDS BDlJnc••t JI March 2024 ApY112023 Intom• ENpendi¢¥r¢ Transl•rs Grnup 0•518fiit Fundi Ashley Copse Capltal fund-fixed assels Homeless fundr•l4n8 SlnklntFund 90,924 25.066 1,299 fil.159 90.924 25.066 1.199 93,970 33,811 177.448 33,811 211,259 G•rt•i•l Funds 1.616.239 5.359.102 33,811 1.563.874 Totjl Funds 5.359 102 1.775,133 Bolonceat I Ap1i12023 In¢om• Exp•ndltur• Tr•nif•vs Morch 2024 Comp•ny 0•118n•i•d Fundi Ashley Copse C•pital ftsnd-fixed ossets Homeless fundr4151ni Slnkln8 Fund 90.924 24,903 J,299 60.322 90,924 24,903 1,299 94,113 33.811 33.811 211,259 G•fi•r•l Fur+ds 1.469,433 4,fjY,076 4AOO,226 1529 472 Tot•1 Fuhds 1.64&881 4.694,076 1710 731 Prlor yeor 8olonceot I pr112022 8olort•or3J Mttr¢h 2023 Income 8xptnLlittKe Tronsle Gmup signoiedFund5 AsNeyCopse CowlolJund-ffixed055etJ Homelessfvndiolslng Sinklng FL*nd 90.924 25.066 1,299 4&060 90.924 24.903 1,299 f),322 11631 119,90J I 34.163 J63.349 GeneralFunds 1,588.227 5,091.638 5.029,626 134,1)QO J 1,614239 Torolsunds 1.751.576 5,091.638 5.049,527 8)1on¢eat I Apri12022 Bolon¢e oi 31 March 2023 Income Exptrtdlture Tmnslers Cvmpuny DesffjnoiedFunds Ashleycopse Copltolfvnd-ffixedossets HomelessIunérolslng sinking F¥n 90,924 24,903 1.299 46,223 90,924 24.903 J.299 60.322 119.9011 34.Ll)O 163.349 19.9Ql 34,tXXI 177,448 GenerolFunds 1,462,605 4.347,982 {4.307.J541 34,000 1,469.433 TotolFunds 1,625,954 4.347,982 14.327.055 1,646.881 Page 20122
+ftifli+y TRINITY HOMELE88 PROJECTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINVED) 11. MOVEMENT OF FUNDS Ashley Copse-The Department of Health made a capital grant of £193,152 In 1987 under section 64 of the Publlc Health Art 1968 to the Coke Hole Trust, a reglstered , a reglstered charlty whlch merged In 1998 with Bridges International Umlted whlch, In tum, taken over by Yeldall Christian Centres In 2004. The designated furKi comprise5 of 50% the grant a55igned to Trinity Horrele55 Projects upon de.merger from Yeldall Chrlstian Centres. The purpose of the grant was to extend the residential rehabilitatSon ntre for drug misusers. Whilst the grant Is potentlally repayable, the trustees are of the opinion that this is unlikely given the effluxion of time and on the ba5 of prevlous Corresponden wlth the relevant Government department. Capltsl Fund .Thls fund represents the net book value of the flxed assets owned by the parent companyi net of the value of any Ilxed assèts provided from restrlcted funds. Homeless Fundralslng. Money allocated spedficalty for the fundra151ng advllies of the tharltable company, Snklng Fund- Money to put aslde to cover futurt repalrs and malntenano costs, Thls Is to reduce the Impact of fUre one.-off $1gnlflont expenses, 12. ANALY818 OF NET A88ETS BETWEEN FUNDS Current Ais•til Llibllltles T•n8Sble Ass•ts Lofii T•rm U•bllltloi Tot•1 Group Deslgnatéd ieseNès G•ner•l unrestrSrted re5erve5 211.259 774,639 13,358,1231 111,259 I,S63,874 4,147,3S8 4 147,358 3 158 IZ3 1775 111 Current Tan¢lbl• Ais•ts Long Term Ll•blllii•$ Toi41 Compiny De518nated reservès Gener•1 unrestrfcted reserve5 211,2S9 754,483 13,358,123) 211,259 1,529,472 4,133.112 4,133,112 965 742 3 358 123 17410,731 Prloryeor ToRglble CurrentAssets/ Assets Llobilitles Long ferm Llabilitles Totol Group- Restoted Desigftotedreserves Generol unresrrictedreserves 177.448 865,413 13,387,5119 177,448 1,616,239 4.138,337 4,138,337 1.042.861 13.387.511 2,793.687 Ton9lble CuttentAssets/ Assets Llotslities lono Term Tetol Company DesignotedfeseThes Generulynre5tri¢tedresffts 177.448 736.644 177.448 1,469,433 4,120.3LiI 13.387.5111 914.092 3.387.511 1,646,881 Page 21122
+ftifli+i TRINITY HOMELESS PROJECTS NOTES TO THE CONSOLIDATEO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 13. OPERATING LEASE COMMITMENTS At 31 March 2024 the charltable company and group had the followin8 Commitments under nOn-¢anlIable operatlng leases.. 2024 Group 2024 Cofflpanv 2023 Group 2023 Company 13. Land and 8ulldln8S Within one year within 2 to 5 years Over 5 years 1,371,338 2,394,696 81,000 1,335,338 2,250,696 1,392,056 2.297,097 90,000 1,356,056 2,153,097 Other Wlthln one year wlthln 2 to 5 years 25,088 38,255 9,832 26,204 26,316 79,736 5.037 8,814 3 910 377 3 622,070 3,885,205 3,523.004 14. PENSION SCHEME The Charltyoperates a deflned contrlbutlon penslon scheme on behalf of Its employees. The assets of the scheme are held separately from those of the group. At 31 March 2024 there were out5tandlng contrlbutlon5 for the group of £23,05112023.' £8,825). 15. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES In relallon to the bulldlng work at Rlverside, there was an authorised and contracted for capltal commllmenl of £NII at 31 March 202412023.. £200,000). There were no contingent Iiabllitles at 31 March 202412023.. £NIII. 10. COMPANY LIMITEO BY GUARANTEE The charltable companyls a company limlted by guarantee and without a shale capltal. There were 6 members at 31 March 202412023: 7 member51. If the company Is wound up, the membeis are requlred to contribute a maxlmum of Él towards the costs of winding up the company and Ilabllffje5 Incurred whllst the contrlbutor was a company member and for one year after cea51ng to be a rnernber. 17. RELATEO PARTY TRANSACTION8 At 31 March 2024. Trinlty Homeles5 Projects had a balance of £164,24012023'. £174,505 I re¢el¥able from Trinity Aciivlties, that relates to a lon8-term loan. Thère was £Nil amount payablè to or receivable from Trinity Activlties 12023.. E91.531 recelvable from Trlnlty A¢tlvltlesl due to an excess in cash transferred for tran¢tIons, expenses incurred, mana8emenl ¢haf8e and donations which had arisen In the year. Tflnlty Attivilies Ss a wholly controlled subsldlary olTrinlty Homeless Pr¢le¢ts and part of the Trinily Homeless Projects Group. The two or8an15alions have common trustees. Trlnlty Homeless Projects ralsed a management char8e 01 £265,04412023'. £170,936) to Cover ihe Cost ol funnln8Trlnlty ActlvStles In the year. Thlsamountls shown wlthlr* admlnistratlve expenditure in the charitable expenditure note of the Trlnlty Actlvltles linanoal statements and included In other tradln8 actlvSties In the staternent of flnanclal actlvitle5 01 the Trinity Homele55 Pfolectsflnanoal statements. At Ihe year-end a lotal of £133.21012023.. £109,2671 w?$ due to Trinity Homeless Prolectsfrom SIou8h Homeless- Our Concern, a ¢harity which sha5 ¢ommon dlrectors. Thls piimarlly ielates to expense5 paid by Trlnity Homeless Projects on behalf o151ou8h Homeless- Our Concern. SHOC, SIou8h Hornele55 Oyr Con¢ern is an independent charity and the charity has common trustees wlth Trlnlty Homeless ProlertS. Trlnlty Homdess Projects ralsed a mana8ement char8e of £7,15212023'. £6,4Q)I to ¢ts¥er the cost ol runningSHQC. SIou8h Homeless Ourconcern in the year. 18. RESTATEMENT OF PRIOR YEAR 8ALANce The consdidated 2023 general funds were res18led lo take account ol 8 donatn 01 £95,000 racelved from TrOnY Actlvilles lo Trinity Homeless Projecls (Charity). Page 22122