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Comyny R•glitr•llon Numb•r oe047635
Charlty Numb•r 1118222
TRINITY HOMELESS PROJECTS
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024

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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

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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 Inv￿￿￿OnI M8nagem8nl Limlled
Thè COIF Ch8rilie¥ Dpp0511 Fund
Sl Alphage Hous8
2 Fore Street
London
EC2Y 5DH
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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 char￿488
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$18 a eharflablo ¢ompany limited by guaranloe.11 was incorporated on 10 January 2007. Its
m•n obj8cls are to ond homo188sn88s by provldinq hou81ng and homo1888 8orvl¢08 lor people al risk of or 8uff•rlng
homele8gnes8, though coaGhlng ènd 8UPPOrt.
PU8LIC BENEFIT
In accordance wlth thè 8bov8 oblecllve8 lor thi8 year. and wllh duo regard lo the pub118hed Chartty Comm15s1on
guld•nc8 on tha operation of tho Public 8gn9fi1 Tequlrèment of tha CharflSe8 Act 2011. Ihg Dlrector8 have undertaken
approprlale activllie¥ In furtherance of those aims for Ihg publSc bengfil. This yeaf 8 aclivilles, achlevgment8 and
future plans Ère 8ummart8ed below.
ACHIEVEMENT AND PERFORMANCE
Endlng hom•lM•n•••
is a ccfflrnunily ol poorAo. laying a ftsjndaknn lor a soogly of equ￿¥. through di8legue and con8en8us ￿ a woyof livlr¥J logeth•r In l￿wo￿d,
8nd we have ¢om8 Icg8lhet because we Share Ihe same Msion of a worfd Vthere everytsno hos a h)rne.
Trds year ￿ have..
Promded hou&ng lor 565 peo￿8
Holped 156 pla￿? into Ih•i ngxt homo.
Supported 31 farrAlSe3 from ￿ghanistan Ukfaln• to setle in the UK.
Our houwng pathway stagnated du& to a lack of move-Dn thi$ year and our to increasè Qur Supported hou8ing olfer dld not progre55. Both Iho$0
iswe8 aro relaled to tha incrnases ift local fenls and locol landloids18awng thè rnatKal du& le changes In le918latlon.
We launched a naw Reconnectiony service prowding In.reach lor peoty8 rough 818tpin9.
Wg have COrnFdèled our first wdlbeing program and 85% ol th& 8nlire108rn hiv9 bongfittod. Thls programrne has been poworful In ¢ro8￿n9 community,
3010ty and 5dl￿onfidence and Ihe effec18 8rD bBing f811 across th8 organisatson.
Wfr would lik• to Ih8nk pgrtneryd and wJpportgr3 ha￿ holpod u8 this year.
Trlnlty A¢tlvltl••
Furnllure that do••n't cost th• earth.
We work lo a triple bollom Ilne of; 8ocSal, onvironm9nt81 and financial oulcom88.
Trinity Furniture Stores provlde low cost, pre-owned furnituro to ovor 20.000 peopla In our local arga asw811 a3 300familie8 recelvlng
help to move into llgw Social housing.
Th18 year we rocyded 378 tons of donated fumllure. This Is equal lo over 1,000 lon5 of C02 or heallng over 350 houses for a year.
Trinity cuffenlly has 100 properties, Trinity doesn't cost the 8arth.
This year Sawthe expgnslon ofour Uxbridge store and an in¢r6888 in 8ale8 of12%, a gross surplus 0130% and contdbulion lowards
haritsble overheads of 24%.
Wg'd like to thank all our donors and customer8 foi making this possible.
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TRINITY HOMELESS PROJECTS
DIRECTORS, REPORT FOR THE YEAR
ENDED 31 MARCH 2024 ICONTINUED)
FUTURE PLANS
We￿1 ￿nI￿Ve to do¥elop the RIv8rsldg Wrnnts, SEeC￿eallyth8 bhjge and solar p8nebto tra￿1 bme and oui Garfojn footprint.
There are currenuy 2,800 F4opk In b¢81 hotels awaltiro th8lr stslus. In ￿$￿)nSe te thi$ are wJrkir¥J to Greate solub'ons for tho Nthnal Asylum Seeker
Programme. We are de￿lOp￿d $borwrortrershIp￿lMIyJ *ith Safer N81ghb)urhr￿rfsTeam.
Tflnlty A¢l1vl￿1•
Wa vlll C￿)ntinUe vith our prtr*rShIp￿lkIn9 the LOG81 Athority. promding ￿rn￿)re to ntr1tenants￿ th8 ￿U￿or$¢heme, as￿11 88 ￿$thI￿J abwslde
'Re.use N8kn)rk' wrt¢Nnln9 Lwlrn¢led Gknarms ofK40D pro￿￿08.
FINANCIAL ACTIVITY
The con6olld8led flnancSal 8lalements Show a daftrjl of £18.55412023'. £137,111). Tho Stalemonl ol Flnanclal Acllvllles
for Trfn5ty Homg1058 Prolecls shows a surplus for the year of £93,850 {2023.' £115,925) an¢J those of Tdnlty A¢llvllles
show 8 d¢fl¢lt of £112,40412023'. £21.186) for the year ended 31 March 2024.
Al 31 March 2024, totsl con8011d8led funds were £1,775,13312023.' re51aled £1.793.6871.
ResERVE8 POLICY
The dlr&clors have revlow¢d the ¢harllable Company's needs for reserves In Ilne wllh the guldance188ued by the Ch8rlty
Commlsslon. Thoy have establlshed a pollcy whereby the free reserves Ilh81 1$ 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..
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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
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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 E8s6n￿31 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 0f￿e1ve 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 b8￿me 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.
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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$e flnando18tatemenl8, the 0Srectors are required lo..
8elecl sullablo accounllng p)licSes and then apply them
¢cffl3lstenlly,'obseTh¢ Ihè mèthod8 and prlnclples In the Charlues
SORP..
make ludgement8 and esllmales that are re8sonable and prudent:
stale whelhef appllcable a¢￿Un￿ng standards have been followed, sublecl lo any malerlal departures
dlsdo$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
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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.
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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•
Ir*om• 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•
94￿23
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 A55*tS
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
cr￿ltorS. 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 Ass￿1
1775 133
1793 687
C•pii•l •nd ft*s•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
coM￿nY 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 acc￿UniS In a￿ar￿anCe 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$• stated.
b} Golng conc•m
Al the Ilme of approvln9 the flnanclal stalemenls. the Dlr8Ctors have a reason8ble expectallon that the charllable
company has adequate resOu￿e8 lo contlnue In operatlonal exlslence for the foreseeable future. There are
no fundamonlal un¢ertalnll¢$ 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 In￿m•
Income18 recognl8?d In the perfod In whlch the charltable ￿MPany18 legally enlllled to the I￿oMe, 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$011￿￿ted
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 a￿untabIlity 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 valuatk*n, net Ofdeprecla￿0n
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 I￿11 commence when the propety Is In use.
C••h •nd cJ•h •qulv•l•n¢•
Cash and c45h eq￿ValentS 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 &m￿OYment 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$.
Desigiioiedfiiiids .Ihe8e are funds set aslde by the dlreclors out of unre51riGted general funds for speclflc fu￿re purposes
or prolects.
The dlreclors make transfers behveen lunds when expenditure of • re$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
S22￿14
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) eX￿eded
£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 d1￿CtOrS In the year to 31 March 2024 (2023: £NII).
During the year remuneratlon to key management totalled £344,227 (2023: £322,246).
Page 16122

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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*•i*hold
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 furth*r•n¢• of th• group's obJ•¢t￿••.
Page 17122

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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

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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 ba￿5 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 f￿Ure 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-¢an￿lIable 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 sha￿5 ¢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 donat￿n 01 £95,000 racelved from TrOn￿Y Actlvilles lo
Trinity Homeless Projecls (Charity).
Page 22122