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2021-03-31-accounts

Salisbury Trust for the Homeless Ltd

Company number: 05812515

REGISTERED COMPANY NUMBER: 05812515 REGISTERED CHARITY NUMBER: 1118746

SALISBURY TRUST FOR THE HOMELESS LTD (COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Salisbury Trust for the Homeless Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2021

CONTENTS Pages
Company information 2
Annual report 3 to 5
Independent auditor
s report to the members of Salisbury Trust for the Homeless		 6 to 9
Statement of financial activities including income and expenditure account 10
Balance sheet 11
Notes to the financial statements 12 to 22

Salisbury Trust for the Homeless Ltd

COMPANY INFORMATION
PATRONS:- The Bishop of Salisbury
The Bishop of Clifton
The Dean of Salisbury
TRUSTEES AND DIRECTORS:- Maureen Pardy, Chair
Philip Baker
Barbara Wood resigned Jan 21
Edward Probert
Ann Underwood
Ken Smith
Will Bennett
Keith Phillimore
EX OFFICIO John Walsh - Wiltshire Council resigned May
21
COMPANY SECRETARY:- Philip Baker
REGISTERED OFFICE:- Bevan House
148 Fisherton Street
Salisbury
SP2 7QW
REGISTERED COMPANY NUMBER:- 05812515
REGISTERED CHARITY NUMBER:- 1118746
AUDITOR:- KPMG LLP
Tollgate
SO53 3TG
SOLICITOR:- Steele Raymond LLP
Richmond Point
43 Richmond Hill
Bournemouth
BH2 6LR
BANKER:- Lloyds Bank Plc
45 Old Christchurch Road
Bournemouth
BH1 1ED

Salisbury Trust for the Homeless Ltd

ANNUAL REPORT

The Trustees present their report and the financial statements for the period ended 31 March 2021, which should purposes of Company Law. The financial statements have been prepared in accordance with Accounting and Reporting by charities; Statement of Recommended Practice applicable to Charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019 (second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

GOING CONCERN

have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This includes consideration of the impact that Covid-19 may have upon its forecasts and projections, and measures taken to try and limit its potential impact. As the trustees have concluded that it has sufficient resources to enable it to continue in existence, the company continues to adopt the going concern basis in preparing its financial statements.

OBJECTIVES AND ACTIVITIES

STFH objects, as defined in the Memorandum of Association, are:-

The trustees have given due regard to public

The charity achieves its principal objects and purposes through the provision of accommodation, support and housing advice to vulnerable people. These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit.

ACHIEVEMENTS AND PERFORMANCE

Salisbury Trust for the Homeless Ltd (STFH) provides accommodation and support for single homeless people of Salisbury and the wider Wiltshire area. In the past 12 months it has supported 72% of clients in its shared accommodation to move on to independent accommodation in a planned way.

The Trust owns 5 of the 9 properties it uses as rental accommodation, all acquired since 2008. The latest purchase, a four bedroom house for use as an HMO, was in 2019.

STFH continues to benefit from the relationship it has with its parent organisation, BCHA, and the support and expertise they offer.

As part of its recent Business Plan review, the Charity expects to continue to increase support for the homeless and plans to buy suitable properties to gradually replace the ones being leased as well as continuing to seek the support of the local community and local businesses for its work.

Salisbury Trust for the Homeless Ltd

Due to the restrictions of the pandemic, we were unable to carry out most of our normal fundraising activities. However, we have been successful in gaining grants from various organisations including the National Lottery, the Gannett Foundation, Wiltshire Community Foundation and Tesco, and from private donors. We also have over 30 collecting tins positioned in various establishments around the city.

Our three professional staff set up customised action plans with new clients which they work through together. The staff have been with us for over ten years, and their caring and effective approach is why we achieve such good outcomes with our clients.

Over thirty of our supporters donate regularly and during lockdown we were able to increase this number. In a normal year, more than fifty volunteers also support our numerous activities. The Trustees are most grateful for the valuable contribution made by both volunteers and supporters for their generous assistance.

FINANCIAL REVIEW

The Charity reports a net surplus for the year of £63,898 (2020: £26,783). Total funds at 31 March 2021 were £934,692 of which £932,054 was unrestricted and £2,638 was restricted for the Kitchen Fund.

Secured bank loans of £92,327 were repaid during the year from surplus cash.

has established a policy whereby free reserves held by STFH should be a minimum of three months of expenditure which is to be held in either cash or intra group loans. Budgeted expenditure for 2021/22 is £242,266 and therefore, as the target of £60,566 is below the £63,742 total of free reserves, this requirement is being met. Free reserves are equal to the total of net current assets at 31 March 2021 held in unrestricted funds.

The reserves are needed to meet the working capital requirements of the charity and the Board are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The funds included designated funds of £43,575 (2020: £46,152) for on-going furniture replacement. Total funds also include £2,638 (2020: £2,638) of restricted funds.

The Board has also considered the impact of Covid-19 which is ongoing at the time of the publication of these accounts. The trustees believe that the primary impact on the trust for the financial year 2021/22 will be in relation to the potential loss of donations. This potential loss has not materialised during 2020/21 and we are therefore very grateful to all our donors for continuing to support the charity. Nevertheless, the board will be looking at ways to continue to mitigate this risk. Cash reserves for the trust are healthy and will be used to support us during the 2021/22 financial year if donations do reduce below budgeted levels. The Trust holds reasonable levels of accessible cash which is currently equivalent to four In addition, the circa £12m of secured committed bank facilities which could be used to provide medium term support if required.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Salisbury Trust for the Homeless Ltd (STFH) is a company limited by guarantee and a registered charity. The liability of the members is limited by their guarantee. The company was incorporated on 1 January 2008 and continued operations which were previously carried out in a charitable trust of the same name. STFH is a subsidiary of Bournemouth Churches Housing Association Limited (BCHA).

The Trustees listed on page 2 have held office during the whole of the period from 1 April 2020 to the date of this report unless otherwise noted. No person may be appointed as a Trustee unless approved in writing by the parent member (BCHA), but the organisation does seek, through general advertisement and networking, additional members with relevant experience or interest in the work of the charity. The induction and training of trustees is overseen by the parent member (BCHA).

Salisbury Trust for the Homeless Ltd

STFH signed up to the parent member s (BCHA) NHF code of governance 2015 and has self-assessed as being compliant as at the year ending 31 March 2021.

RISKS

A review of the major risks to which the charity is exposed has been undertaken and systems established to manage those risks. They are identified in the Business Plan and reviewed on at least an annual basis.

The main risks associated with Covid-19 have also been considered, as noted above. An additional risk that has been considered relates to the collection of rents leading to potential increased arrears and bad debts. However, a significant proportion of the trust customers are on some form of government benefit (housing benefit/Universal Credit) which significantly mitigates this risk.

REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK accounting standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland .

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

Approved by the Trustees on 27 August 2021 and signed on their behalf by:

P Baker Company Secretary

HOMELESS LTD

Opinion

We have audited the financial statements of Salisbury Trust For The Homeless Ltd for the year ended 31 March 2021 which comprise the Income and Expenditure Account, the Balance Sheet and related notes, including the accounting policies in note 2.

In our opinion the financial statements:

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the Charitable Company in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the Charitabl financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the

bu ability to continue operations over the going concern period.

Our conclusions based on this work:

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the Charitable Company will continue in operation.

Fraud and breaches of laws and regulations ability to detect

To identify risks o could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

HOMELESS LTD (continued)

Using analytical procedures to identify any unusual or unexpected relationships.

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account possible opportunities for management override of controls (such as limited segregation of duties), we perform procedures to address the risk of management override of controls and the risk of fraudulent revenue recognition, in particular the risk that income is recorded in the wrong periodand the risk that management may be in a position to make inappropriate accounting entries.

We did not identify any additional fraud risks.

In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of the Charitable Company-wide fraud risk management controls.

We also performed procedures including:

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the trustees and other management (as required by auditing standards), and from inspection of the Charitable policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), taxation legislation, pensions legislation and specific disclosures required by housing legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Charitable Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the need to include significant provisions. We identified the following areas as those most likely to have such an effect: GDPR compliance, health and safety and employment law recognising the regulated nature of the Charitable Company ities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Other information

the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

HOMELESS LTD (continued)

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work:

we have not identified material misstatements in the other information;

in our opinion that report has been prepared in accordance with the Companies Act 2006.

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

As explained more fully in their statement set out on page 5 , the trustees are responsible for: the preparation of financial statements which give a true and fair view; such internal control as they determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or matters related to going concern; and using the going concern basis of accounting unless they either intends to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

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

A f www.frc.org.uk/auditorsresponsibilities.

HOMELESS LTD (continued)

The purpose of our audit work and to whom we owe our responsibilities

Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable

purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company or for the opinions we have formed.

Harry Mears for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants

KPMG LLP Gateway House, Tollgate SO53 3TG

Date: August 2021

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOME AND EXPENDITURE
Income:
Donations & Legacies
3
Investment Income
4
Charitable Activities
5
Total Income
Expenditure:
Charitable activities
6,7
Total Expenditure
Net income and net movement in
funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
2021
Total
2020
£
£
£
£
68,830
-
68,830
58,969
42
-
42
557
214,185
-
214,185
189,568
283,057
-
283,057
249,094
219,159
-
219,159
222,311
219,159
-
219,159
222,311
63,898
-
63,898
26,783
868,156
2,638
870,794
844,011
932,054
2,638
934,692
870,794

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

The notes on pages 12 to 22 form part of these financial statements.

S4115bury Trust for the Homeles$ Ltd BALANCE SHEET AT 31 MARCH 2021 Notes 2021 2020 Fixed Assets TaJi8iblt assri¥ 7U,950 881,797 Debtors Cash at bank and in hand Total Current Assets 14,872 78,702 93,574 18,316 89.904 l(J8.220 Liabilities Creditor8 fallirtg due within on¢ year Net Current Assets 29,832} 63,742 31,587) 76.633 Total assets less ¢UTTeDt liabiiltie$ 934.692 958.430 CredltoT$: fallill8 due IIivr¥ LhéD unc year 12 1117,636) 'et asset5 934,692 870,794 The funds of the ¢h4rlty.- UnrLstric(ed income fynds Regtrieted income ￿ndS 13,15 14,15 932,054 2,638 868,156 2,638 TntAI eh#rlty funds 934,692 870.794 These accounts have been prepared in accordance with the provisions applicabl¢ to companies subject to the small ¢ompani&s' r¢8im¢ under the Companies Act 2006 The finan¢ial sthtcmcnts w¢r¢ approved by th¢ Board atid ilu(l￿1]Srd fur isb￿ on 27 AugusT 2021 M Pardy (Cliair) The notes on pages 12 to 22 fomi part of tlhese financial statements.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1) COMPANY STATUS

The charity is a company limited by guarantee incorporated in England and Wales, whose registered office is set out on page 2. The members of the company are the trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2) ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 Section 1A Small Entities) and the Companies Act 2006.

Salisbury Trust for the Homeless Ltd (STFH) meets the definition of a public benefit entity under FRS102. Assets and liabilities are recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy note(s) and the trustees consider it to be a going concern.

In preparing these financial statements the company has taken advantage of the disclosure exemptions conferred by FRS102 paragraph 1.12, in accordance with paragraphs 1.8 1.10. Therefore these statements do not include a cashflow statement, or certain disclosures in respect of financial instruments. The disclosure exemption has been adopted because the equivalent disclosure is included in the consolidated financial statements of Bournemouth Churches Housing Association Limited.

b) Income

Income is recognised when the charity has entitlement to funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other gra recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Rental income is recognised in the period the properties are let. The company adopts the fixed method for calculating and charging service charges to its tenants and therefore recognises its income in the period of charge.

c) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2) ACCOUNTING POLICIES (continued)

d) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular purpose or defined project.

e) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified as relating to charitable activities, including any associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

f) Operating leases

Rent due under operating leases is charged to the income and expenditure account in the period in which it becomes payable.

g) Impairment

If the trustees become aware of a possible impairment, the carrying value of fixed assets is compared with their recoverable amounts. Any impairment is charged to the income and expenditure account.

h) Going concern

have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The trustees have considered the impact that Covid-19 may have upon its forecasts and projections, and measures have been taken to try and limit its potential impact. As the trustees have concluded that it has sufficient resources to enable it to continue in existence, the company continues to adopt the going concern basis in preparing its financial statements.

i) Depreciation of freehold property

Freehold land and property is carried at historic cost and split between land, structure and other major components that are expected to require replacement over time. Land is not depreciated on account of its indefinite useful economic life.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2) ACCOUNTING POLICIES (continued)

Freehold properties are split between the structure and the major components that require periodic replacement: the cost of replacement or restoration of these components is capitalised and depreciated over the determined average useful economic life as follows:

Description Economic life
(years)
Structure 100
Kitchen 20
Bathroom 30
Roofs 70
Central heating and ventilation 15
Electrics 40
External windows and walls 30

j) Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Asset category Annual rate
Furniture & Equipment 10%-25%

k) Debtors

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

l) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value.

n) Pensions

A defined contribution pension scheme is operated. Pension contributions payable are charged to the statement of financial activities in the period to which they relate.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3) VOLUNTARY INCOME

General fund

General fund
Grants & donations Unrestricted
2021
Unrestricted
2020
£
£
£
£
68,830
68,830
58,969
58,969
68,830
68,830
58,969
58,969

4) INTEREST RECEIVABLE AND INCOME FROM INVESTMENTS

Interest on Deposit account 2021
2020
£
£
42
557
42
557

5) INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Rental income
Service charges
Other
Rental income
Service charges		 Unrestricted
2021
£
£
138,629
138,629
63,306
63,306
12,250
12,250
214,185
214,185
Unrestricted
2020
£
£
134,642
134,642
54,926
54,926
189,568
189,568

Salisbury Trust for the Homeless Ltd

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

6) COST OF CHARITABLE ACTIVITIES

Charitable activities
Support Costs:
Office costs:- Rent and rates
Electricity, water & cleaning
Legal and professional
Sundry expenses
Bank charges
Repairs and maintenance
Telephone
Printing, postage & stationery
Travel & Motor expenses
Bad Debts
Rents
External Audit
Office Equipment
IT costs
Management fee (BCHA)		 Unrestricted
Total 2021
Unrestricted
Total 2020
£
£
£
£
182,268
182,268
184,201
184,201
5,000
5,000
5,000
5,000
58
58
100
100
211
211
238
238
40
40
52
52
663
663
2,660
2,660
255
255
23
23
4,970
4,970
5,055
5,055
96
96
96
96
711
711
35
35
6,858
6,858
6,866
6,866
2,500
2,500
2,625
2,625
40
40
-
-
489
489
360
360
15,000
15,000
15,000
15,000
36,891
36,891
38,110
38,110
219,159
219,159
222,311
222,311

7) TOTAL RESOURCES EXPENDED

Charitable activities
Support costs
Charitable activities
Support costs		 Staff Costs
Depreciation
Other
Total
(Note 8)
Costs
2021
£
£
£
£
60,960
12,238
109,070
182,268
-
-
36,891
36,891
60,960
12,238
145,961
219,159
Staff Costs
Depreciation
Other
Total
(Note 8)
Costs
2020
£
£
£
£
58,982
11,098
114,121
184,201
-
-
38,110
38,110
58,982
11,098
152,231
222,311

Salisbury Trust for the Homeless Ltd

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

8) TRUSTEES AND EMPLOYEES

Staff costs include the
following:
Wages and salaries
Social security costs
Pension costs
The average number of employees for the year was:
Project based staff
Administration		 Total
Total
2021
2020
£
£
55,583
53,857
3,870
3,702
1,507
1,423
60,960
58,982
Number
Number
2021
2020
3
3
-
-
3
3

No employee earned £60,000 or more in the period.

No trustee received any remuneration or were reimbursed any expenses during the period. There are no retirement benefits accruing to the trustees under money purchase pension schemes.

9) TANGIBLE FIXED ASSETS

Cost
At 1 April 2020
Additions:
-
Replaced Components
Disposals:
- Replaced Components
At 31 March 2021
Accumulated depreciation
At 1 April 2020
Charge for the year
Eliminated on disposals:
-
Replaced Components
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Freehold and Long
Leased Property
Fixtures and
Fittings
Total
£
£
£
958,006
1,375
959,381
4,560
-
4,560
(7,606)
-
(7,606)
954,960
1,375
956,335
76,209
1,375
77,584
12,238
(4,437)
-
-
12,238
(4,437)
84,010
1,375
85,385
870,950
-
870,950
881,797
-
881,797

Salisbury Trust for the Homeless Ltd

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

10) DEBTORS
2021 2020
£ £
Rent receivable 14,872 18,316
14,872 18,316
11) CREDITORS: Amounts falling due within one year
2021 2020
£ £
Secured property loans - 4,691
Trade creditors 1,387 1,920
Accruals and deferred income 15,960 12,551
Other creditors 2,920 1,590
Amounts owed to group undertakings 9,565 10,835
29,832 31,587
12) CREDITORS: Amounts falling due after more than one year
2021 2020
£ £
Bank loans (secured on freehold property) - 87,636
- 87,636
Maturity of debt
2021 2020
£ £
In one year or less, or on demand - 4,691
In more than one year but not more than two years - 4,918
In more than two year but not more than five - 10,502
years
In five years or more - 72,216
- 92,327

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13) UNRESTRICTED FUNDS

Unrestricted
funds
Designated Funds
-Furniture
replacement fund
Total
Unrestricted
funds
Designated Funds
-Furniture
replacement fund
Total		 Balance
Balance
1 April
2020
Incoming
resources
Resources
expended
Transfers
31 March
2021
£
£
£
£
822,004
283,057
(219,159)
2,577
888,479
46,152
-
-
(2,577)
43,575
868,156
283,057
(219,159)
-
932,054
Balance
Balance
1 April
2019
Incoming
resources
Resources
expended
Transfers
31 March
2020
£
£
£
£
798,624
249,094
(222,311)
(3,403)
822.004
42,749
-
-
3,403
46,152
841,373
249,094
(222,311)
-
868,156

The income funds of the charity include the following designated funds, which have been set aside out of unrestricted funds by the trustees for a specific purpose:

The designation to the Furniture Replacement Fund is to provide replacement furniture at schemes by transferring a proportion of the service charge from the General Fund.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14) RESTRICTED FUNDS

Kitchen fund
Total
Kitchen fund
Total		 Balance
Balance
1 April 2020
Incoming
resources
Resources
expended
Transfers
31 March
2021
£
£
£
£
£
2,638
-
-
-
2,638
2,638
-
-
-
2,638
Balance
Balance
1 April 2019
Incoming
resources
Resources
expended
Transfers
31 March
2020
£
£
£
£
£
2,638
-
-
-
2,638
2,638
-
-
-
2,638

The kitchen fund represents donations received to install a new kitchen and washing machines. It is not anticipated that a cost will be incurred each year.

15) ANALYSIS OF NET ASSETS BETWEEN FUNDS

As at 31 March 2021
Restricted funds:
Kitchen Fund
Unrestricted funds:
Designated Funds
General Funds		 Tangible
Fixed Assets
Net Current
Assets
Creditors Due
After More
Than One
Year
Total
£
£
£
£
-
2,638
-
2,638
-
43,575
-
43,575
870,950
17,529
-
888,479
870,950
63,742
-
934,692

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15) ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

As at 31 March 2020
Restricted funds:
Kitchen Fund
Unrestricted funds:
Designated Funds
General Funds		 Tangible
Fixed Assets
Net Current
Assets
Creditors Due
After More
Than One
Year
Total
£
£
£
£
-
2,638
-
2,638
-
46,152
-
46,152
881,797
27,843
(87,636)
822,004
881,797
76,633
(87.636)
870,794

16) COMMITMENTS

At 31 March 2021 the total minimum amount payable under non-cancellable operating leases was as set out below:

Operating leases which expire:-
Within one year
Within 2 to 5 years		 Land and
Land and
Buildings
Buildings
2021
2020
£
£
36,500
33,842
43,842
63,000
80,342
96,842

The company had capital commitments totalling £nil (2020: £nil).

17) CONTROL

The ultimate and immediate parent undertaking is Bournemouth Churches Housing Association Limited (BCHA).

The results of Salisbury Trust for the Homeless Ltd are included in the consolidated accounts of Bournemouth Churches Housing Association Limited, these consolidated accounts are available from:

The registered office and full address for Salisbury Trust for the Homeless Ltd is Bevan House, 148 Fisherton Street, Salisbury, SP2 7QW.

The registered office and full address for all other companies is St Swithun s House, 21 Christchurch Road, Bournemouth, Dorset BH1 3NS.

Salisbury Trust for the Homeless Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18) RELATED PARTY TRANSACTIONS

During the year Bournemouth Churches Housing Association Limited charged Salisbury Trust for the Homeless Ltd £15,000 (2020: £15,000), in respect of management charges, and £nil (2020: £nil) in respect of goods and services.

There is scope for two of the Trustees of Salisbury Trust for the Homeless Ltd to either sit on the Board of Management of, or be employed by Bournemouth Churches Housing Association. Currently only one of these positions is taken.

Bournemouth Churches Housing Association Ltd is a Registered Provider of social housing, registered with the Regulator of Social Housing, number LH0155.

There was £9,565 owed by Salisbury Trust for the Homeless Ltd to BCHA at 31 March 2021 (2020: £10,835).

There was £nil owed by BCHA to Salisbury Trust for the Homeless Limited (2020: £nil).

19) FINANCIAL INSTRUMENTS

2021 2020
£ £
Financial assets that are recorded at transaction price 93,574 108,220
Financial liabilities that are recorded at amortised cost 29,832 119,223

Financial assets comprise cash, trade debtors and loans Financial liabilities comprise trade creditors, accruals and other loans.