SHELTER= FROMTHE STORM Unaudited Trustees, annual report and financial statements For the year ended 31 March 2023 Shelter from the Storm (a company limited by guarantee) Registered Company number.. 6631475 Charity number: 1125575
Shelter from the Storm Trustees, report and accounls lor the year ended 31 March 2023 Contents Reference and administrative details of the Organisation............................................ Trustees Report................................................................................................................. About Shelterfrom the Storm................................................................................................. Mission statement and vision Co-Founder's statement and annual review.......................................................................... Other Updales......................................................................................................................... 19 Plans for the Future................................................................................................................ 19 Structure, Governance and Managemenl............................................................................. 20 Financial Review and Reserves Policy................................................................................. 21 Independenl examiner's report to the Truslees...........................................................23 Statement of financial activities....................................................................................24 Balance Sheet.........................................................................................................................25 Statement of Cash Flows....................................................................................................... 26 Notes to the Financial Statements........................................................................................ 27 registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Reference and administrative details of the Organisation Trustees and advisers for the year ended 31 March 2023 K Sparks M Clinch L Newby (resigned 1 November 2022) D Drewery C Umuhire D Grey (appointed 4 March 2023) Registration Details Company Registered Number.. Charity Regislered Number: 6631475 1125575 Registered Office 124 City Road, London, EC1V 2NX Chief Executive S M Stephenson Independent Examiner M Proctor FCA DChA Lovewell Blake LLP Bankside 300 Peachman Way Broadland Business Park Norwich NR7 OLB Principal Bankers Barclays Bank PLC registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 SHELTER FROMTHE STORM REG. CHARITY:1125575 Our Mission is to house and support people who've experienced homelessness in London whoever they are wherever they come from registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 About Shelter from the Storm Shelter from the Storm is a completely free emergency night shelter providing bed. dinner and breakfast for up to 36 people every night of the year. Established in 2007 as a response to the increasing levels of homelessness and destitution on the streets of London. our mission is to house and support people who've experienced homelessness in London whoever they are wherever they come from. We take people off the streets FIRST then see what we can do to help them, while offering the dignity and respect they deserve. Not only do we give a safe warm bed for the night. showers, clothing and meals all free of charge but we also provide a settled base. with an address where people can receive mail and register for ID. employment or benefits. The work of the shelter has always been based around the notion that people experiencing homelessness are part of our community, not an embarrassment to be swept into the gutter. With the right support. our guests can and do take their rightful position in society. For some this will be in paid employment. for others not ready or able to work, it will be about helping them become more active, involved and engaged members of their community. Each evening they sit down to eat together. a simple ritual for most of us, but for many of them it will be the first time they've done this since they left home. Shelter from the Storm is 16 years old this year. We don't think we've changed too much since we first began; yes, we're able to offer more services to our guests, but the concept is still the same and this is why, 16 years down the line, we still think that what we do works, is important and deserves to be recognized and supported, and we're determined to continue our work for years to come. We started with one night in a church hall and now we care for up to 36 men and women every night, 365 days a year. Shelter from the Storm truly is a place of transformation, a place of hope - not only for our guests, but for all of us. registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Mission statement and vision Our mission is to house and support the homeless in London whoeverthey are wherever they come from. Our vision is of a society where charities like Shelter from the Storm are no longer necessary. To achieve our mission and realise our vision all our activities are underpinned by the following values: Responsive: A commitment to respond to the specific needs of our guests no matter how complex. We do not shy away from difficult cases that require extra perseverance. understanding and care. Supportive.. To work with each guest as an individual, supporting them to set achievable and realistic goals that will enable them to work towards a safe, sustainable and happy future. Worth.. To help our guests to realise the value of their labour and Ihe conlribution they can make to building a better society for all. Community: To foster and grow a community of guests and volunteers built on a commitment to care, understanding and mutual respect. Shelter from the Storm is committed to safeguarding and promoting the welfare of its guests, staff and volunteers. Holistic: Understand that tackling homelessness requires a grasp of complex problems and 'wrap around, solutions that must address the practical, emotional and social challenges that our guests face. registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Co-Founder's statement and annual review We've always said there is no 'normal' sort of homeless person - it can happen to any of us and this is truer now than it has ever been. The cost of living crisis is having a devastating impact on people who never believed they could become homeless. Homelessness was for others, the feckless, the runaways, sex workers, substance misusers and yet...here we are, inundated with referrals for 'normal' people who have lost their homes because they simply couldn't afford lo pay their rent. Our dystopian streets hark back to the Cardboard Cities of a previous era. We glimpse little gangs of people huddled together for warmth and comfort in the doorways of boarded-up shops, like an elching of Dickens London brought lo life. In the last year there has been a spike in people experiencing homelessness in London. From March 2022 to April 2023, 10,053 people were recorded sleeping rough in London. 64 % of them were doing so for the firsl time. Cases of homelessness in London rose by 54 % between 2013 and 2023. At SFTS, we believe the only response to these terrible times is to go further- do more. We're still one of the few options available for many people experiencing homelessness 'whoever they are, wherever they come from,. At a time when we're receiving more referrals than ever and we're constantly at capacity, our wonderful staff and volunteers are doing their very best to support our guests. Every night we sit down together to eat and talk, to play pool, watch TV or listen to music - from the gloom of a city doorway, to a place of hope, of transformation- a place of light. Sheila Scott {Stephenson) Co-founder & Chief Executive August 2023 'source.' CHAIN Annual Report 2022123 registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Our Team General Manager - Matt Conlon, Chief Executive - Sheila Scott, Project Workers- Sara Saghafi & Celia Moodie registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Our Volunteers This last year has seen a 50 % drop in volunteering numbers across the UK. There are a number of reasons for this. The pandemic created uncertainty and safety concerns. The cost of living crisis has affected people's availability and willingness to volunteer, as many registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 individuals have to prioritise paid work to support themselves. Additionally, the shift towards remote work, we believe, has discouraged people from taking up volunteering opportunities where they need to travel. Againsl this National trend, we've been overwhelmed by the response of the public, especially local people, who are so keen to help wilh Ihe work of the shelter. Our amazing volunteers are key to delivering truly remarkable outcomes for our guests. Many volunleers have been wilh us since the beginning, some for years and new leam members are joining us all the time. Once they're sellled in their new homes, we encourage our ex- guests to come back lo volunleer. Our fantastic and dedicated crew always go Ihe extra mile to provide a warm. welcoming and safe environment for the guests. They cook delicious dinners, undertake arduous fundraising activities, do laundry, play pool, help with Cvs and job applications, search for rooms, but mostly offer love and care and someone to talk to. registered charity # 11255751 registered company # 6631475 10
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Our Guests registered charity # 11255751 registered company # 6631475
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 I've just turned 30.1 used to have a place in Bristol, but I got an offer of work in Canary Wharf. It was an admin position in a marketing company and it seemed like a pretty good opportunily. I slarted work and paid for a holel for the first 7 nights. The pay wasn'l too bad but I couldnl find anywhere I could afford to renl and just surviving in London was incredibly expensive. I very quickly used up all my savings. I knew the British Red Cross from Bristol, so I phoned them up and they made a referral to the sheller- I was just really lucky that Ihey happened to have a space. Because a got a bed at SFTS, I was able to keep my job which I'm still doing part time. I've also got a side huslle being an extra in the movies - crowd scenes, that sort of thing. It varies how much work I get, but it's quite good fun. Eventually I want to run my own business. I'm desperately looking for somewhere to rent - I pay an extra fee to spareroom.com to try to get to see rooms first but I'm not having much luck. London is so expensive that I'm looking in Southampton or anywhere a bit cheaper outside of London. When I first came to the shelter I had no idea what to expect but the staff and volunteers made me feel so comfortable and at home. They gave me a laptop so I could keep working. l use the gym and I've done the Yoga classes. I've just enrolled in Portuguese classes. I feel optimistic for my future, staying at the shelter has enabled me to save up for a rent deposit and I'm hopeful that I'll be able to move into my own place soon. SFTS have offered me everything they could - great food. showers, laundry a nice bed. but most of all they've provided me with safety and the chance to start the next chapter in my life. registered charity # 11255751 registered company # 6631475 12
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Our Services English classes Gaining a proper grasp of English is key to the well-being, inclusion and employment prospects for many of our guests. Some will have fled war-torn areas or escaped trafficking or slavery. Our experienced ESOL teachers design the lessons with the needs of each individual student in mind. Classes are one to one or in small groups. Some need help with job interviews and the specialist vocabulary for work- some need help with housing interviews. But for others, being able to buy things in a shop, visit the doctor, get tickets at the station or just asking questions face-to- face or over the phone are all part of ensuring guests assimilate safely and comfortably into society. With cuts to the provision of adult education, we provide one of the few seNices our guests can access. We believe that by supporting these guests to improve their communication skills we will not only enhance their wellbeing but also Maximise chances of finding meaningful employment. Improve access to volunteering opportunities lor those not yel ready for or able to work. Create meaningful relationships, prevent isolation and help them integrate into society. registered charity # 11255751 registered company # 6631475 13
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Counselling Sessions The links between homelessness and psychological ill-health are well known. Our guests arrive at the shelter often in a state of shock. They may have travelled hundreds of miles in terrifying conditions, or they may have been kicked out by their mum only a few streets away,. or maybe they have been 'just about managing, but then get into rent arrears. Either way, their life has been lurned upside down and Ihey need time, underslanding and acceptance in order to re-orient themselves and find new directions. People also arrive at the shelter with long histories of abuse, neglect and loss of close family members. Our counselling service offers a stepping slone to slart to unravel some of these issues that have led to a life going out of balance, perhaps over a long period. Through coming for counselling during their stay, guests gain some insight as to what aspects of their own life experience has led to this and find new optimism and support in going forward with their lives. Community Café
É This year we have offered a free lunch at the Community Café once a week. Volunteers prepare a delicious hot meal for our neighbours. We are developing a nice little community who attend regularly. We entertain local students, those who come for the warmth and company as well as parents who enjoy a meal with their children on the way home from school. pr registered charity # 11255751 registered company # 6631475 14
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Enrichment Activities Our talented and inspirational volunteers continue to provide a variety of creative enrichment classes for our guests. Art Sessions •y" registered charity # 11255751 registered company # 6631475 15
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Gym Our volunteer Yoga teacher provided classes for our guests. Our Gym is now stocked with a good array of donated equipment. We hope these activities will support our guests and help improve their well being. registered charity # 11255751 registered company # 6631475 16
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Shelter Garden Our garden continues to mature and grow. We grew tomatoes, cucumbers and peppers which the volunteers used in our dinners. Neighbours regularly stop by to tell us how our garden really cheers them up and inspires them. ?v registered charity # 11255751 registered company # 6631475 17
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Our Thanks To... The following organisations.. Arsenal Foundation Artemis Charrtable Foundation Ayrton Bespoke Ltd BLOOMBERG L.P. Capital Group Egg break Ltd Hollick Family Foundation Howard Charitable Trust Hughes Fowler Carrulhers LLP Jongen Charitable Trust LandAid Longrow Capital Mercers Charitable Foundation Mewburn Ellis LLP Oak Foundation Reawakening Film Limited Singer Capital Markets Securities Limited Streets 01 London talkSPORT Tandoor Chc>p House Ltd The Foyle Foundation The Hoxton (Holbornl Ltd The Hoxton Ishoreditchl Ltd The Hoxton (Southwarkl Ltd The Pease Charitable Trust The Pret Foundation The White Blossom Todo Ciudad FC Corporate volunteer team And also, as always.. a huge thank you to all our wonderful private donors who have supporled us throughout. registered charity # 11255751 registered company # 6631475 18
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Other Updates New Database We've finally completed the updating and implemenlation of a new database. This is proving highly effective and is helping us track and demonstrate the great outcomes we manage to achieve for our guests. Plans for the Future Move On Up project The major issue affecling the people we support atlhe sheller is accesslo Iruly affordable permanent housing where they can live and thrive independenlly. This is particularly true of those guesls we've managed lo support inlo employment. We wanl to build homes in Islington, rented on long renewable lenancies at truly affordable rates, feasible lor those in minimum wage employment. This would not be supported accommodation, but General Needs Housing. One of the demographics we're particularly keen to cater for are our guests who are parents who are separated from their children. The sort of accommodation that our guests are eligible for almost always excludes overnight visitors. Our one beds would be designed specifically to make it pleasant for parents to have their children lor overnight stays. We would like to build a beautiful mixed development comprising three, two and one bed apartments. The scheme will incorporate communal space and greenlwild areas, and we'll be aiming to use new green technologies lo maximise Ihe energy efticiency and reduce the carbon emissions of the building. Wilh our architects, Holland Harvey and a wonderful team ol consultants we're making great strides wilh our scheme. We believe our model will provide a beautiful and inspirational blueprint tor how social housing can be delivered in today's climate. registered charity # 11255751 registered company # 6631475 19
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Structure, Governance and Management The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Shelter from the Storm {the company) for the ended 31 March 2023. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities issued in October 2019. Constitution The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 2616108. The company is constituted under a Memorandum of Association dated 2616108 and is a registered charity number 1125575. The principal objecl of the company is to provide sheller, food, advice, counselling and olher forms of charitable support to Ihose who are homeless or otherwise socially or economically disadvantaged. Method of appointment or election of trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under Ihe terms of Ihe Articles of Associalion. New trustees are given a copy of the Charity Commission publication 'The Essenlial Truslee - What You Need to Know,, and we are looking at addilional training options. Organisation The following trustees served throughout the year: K Sparks M Clinch L Newby (resigned 1 November 2022) D Drewery C Umuhire D Grey (appointed 4 March 2023) The sheller is managed by Sheila Slephenson {Chief Executive) and Matt Conlon {General Manager) who are supported by two Project Workers and army of volunleers. The volunleer Shift Leaders are responsible for delivering the aims and objectives of the Sheller on Ihe nighlslmornings that Ihey are in charge. Any issues of procedure, problems with the guesls and source of referrals are conslanlly monitored and entered on Ihe database. Either the Chief Executive or Ihe General Manager is always available. The Trustees met regularly to consider and review the following in accordance with Ihe needs of our guesls: registered charity # 11255751 registered company # 6631475 20
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 Operational Issues Finances Expansion Fund Raising Training In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. Risk Management The Trustees are aware of the requirement to identify and review the major risks to which the charity is exposed and to establish systems to mitigate those risks. Related Parties The charity incurs costs for payroll, bookkeeping and IT services provided by Kostech Consulting Limited, a company of which Kris Sparks, a trustee, is a sole director and shareholder. All payments for provision of services by a trustee are in line with Ihe charity's memorandum and articles of association. Trustees are aware of the requirement to identify and review the major risks to which the charity is exposed and to establish systems to mitigate those risks. Financial Review and Reserves Policy Within unrestricted funds, income amounted to £349,35112022.' £292,767) and expenditure of £318,083 (2022: £283,808} resulting in net expenditure of £31,268 (2022: net income of £8,959). Income within restricted funds totalled £176.850 (2022: £178,524) and expenditure of £136.900 (2022: £126,619) resulting in net income of £39,950 (2022: £51,905}. During the financial period 2022123 the main expense incurred outside of budgeted operating and project costs was £39,215 to fund the completion of our Dormitory Pods project which included redesigning and installing individual sleeping pods to maximise the accommodation service offered whilst providing security and privacy to our guests. FUNDING SFTS continues to rely on private donations from Trusts & Foundations, Private Individuals and Corporate Supporters and receives no funding from government at a central or local level. RESERVES As can be seen from the accounting statements included within this report, Shelter from the Storm is in good financial health, with unrestricted total funds of £1,288,289 at the end registered charity # 11255751 registered company # 6631475 21
Shelter from the Storm Tnjslees, report and accounts lor the year ended 31 March 2023 of the accounting period, £200,000 of which are being designated for our truly affordable housing project 'Move on Up,. At the end of the accounting period funds are as follows: Restricted funds- Unrestricted Cash.. Unrestricted free reserves (excluding £200k designated funds).. £229,145 £360,518 £227.821 The major issue affecting the people we supporl is access to truly affordable permanent housing where they can live and thrive independently. We plan to provide accommodation within easy access of our sheller in Archway. The accommodation will be rented al affordable rales, pegged lo social rents, feasible for those in minimum wage employmenl. All available funds will be used towards the development of this project with a view to keeping 6-8 months operational costs in reserve thereafter which the trustees consider to be between £215k - £287k. POST BALANCE SHEET EVENTS There have been no significant events affecting the organisalion since the year end. SMALL COMPANY PROVISIONS This report has been prepared taking advantage of the small companies, exemption of section 415A of the Companies Act 2006. INDEPENDENT EXAMINER A resolution to reappoint Mark Proctor of Lovewell Blake LLP as independent examiner for the ensuing year will be proposed at the Annual General Meeting. Approved by order of the members of the board of Trustees and signed on their behalf by: Megan Clinch Trustee Date: 1511212023 registered charity # 11255751 registered company # 6631475 22
Shelter from the Storm
Company Limited by Guarantee
Independent examiner's report to the trustees of Shelter from the Storm
Year ended 31 March 2023
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), balance sheet, statement of cash flows and the related notes.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB 15/12/2023 Date: ……………………
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Shelter from the Storm
Company Limited by Guarantee
Statement of financial activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 347,166 | 176,850 | 524,016 | 470,902 |
| Other trading activities | 6 | 1,300 | – | 1,300 | – |
| Investment income | 7 | 885 | – | 885 | 389 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Total income | 349,351 | 176,850 | 526,201 | 471,291 | |
| =============================== | =============================== | =============================== | =============================== | ||
| Expenditure | |||||
| Raising funds | |||||
| Costs of raising donations and | |||||
| legacies | 8 | 3,058 | – | 3,058 | 2,617 |
| Charitable activities | 9 | 315,025 | 136,900 | 451,925 | 407,810 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Total expenditure | 318,083 | 136,900 | 454,983 | 410,427 | |
| =============================== | =============================== | =============================== | =============================== | ||
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Net income and net movement in | funds | 31,268 | 39,950 | 71,218 | 60,864 |
| =============================== | =============================== | =============================== | =============================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,256,921 | 189,195 | 1,446,116 | 1,385,252 | |
| --------------------------------------- | ------------------------------- | --------------------------------------- | --------------------------------------- | ||
| Total funds carried forward | 1,288,189 | 229,145 | 1,517,334 | 1,446,116 | |
| ======================================= | =============================== | ======================================= | ======================================= |
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 27-37 form part of these financial statements.
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Shelter from the Storm
Company Limited by Guarantee
Balance sheet
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 1,249,427 | 1,298,072 |
| Current assets | |||
| Debtors | 16 | 133,683 | 79,789 |
| Cash at bank and in hand | 429,770 | 484,186 | |
| ------------------------------- | ------------------------------- | ||
| 563,453 | 563,975 | ||
| Creditors: Amounts falling due within one year | 17 | (66,380) | (136,765) |
| ------------------------------- | ------------------------------- | ||
| Net current assets | 497,073 | 427,210 | |
| --------------------------------------- | --------------------------------------- | ||
| Total assets less current liabilities | 1,746,500 | 1,725,282 | |
| Creditors: Amounts falling due after more than one year | 18 | (229,166) | (279,166) |
| --------------------------------------- | --------------------------------------- | ||
| Net assets | 1,517,334 | 1,446,116 | |
| ======================================= | ======================================= | ||
| Funds of the charity | |||
| Restricted funds | 229,145 | 189,195 | |
| Unrestricted funds | 1,288,189 | 1,256,921 | |
| --------------------------------------- | --------------------------------------- | ||
| Total charity funds | 20 | 1,517,334 ======================================= |
1,446,116 ======================================= |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 15/12/2023
M Clinch Trustee
Company registration number: 6631475
The notes on pages 27-37 form part of these financial statements.
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Shelter from the Storm
Company Limited by Guarantee
Statement of cash flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 71,218 | 60,864 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 83,244 | 89,284 |
| Other interest receivable and similar income | 16,689 | 13,011 |
| Loss on disposal of tangible fixed assets | 9,167 | 750 |
| Changes in: | ||
| Trade and other debtors | (53,894) | 39,613 |
| Trade and other creditors | (70,385) | (5,683) |
| -------------------------- | ------------------------------- | |
| Cash generated from operations | 56,039 | 197,839 |
| Interest paid | (17,574) | 13,400 |
| Interest received | 885 | 389 |
| -------------------------- | ------------------------------- | |
| Net cash from operating activities | 39,350 | 211,628 |
| ========================== | =============================== | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (43,766) | (77,876) |
| Proceeds from sale of tangible assets | – | (150) |
| -------------------------- | ------------------------------- | |
| Net cash used in investing activities | (43,766) | (78,026) |
| ========================== | =============================== | |
| Cash flows from financing activities | ||
| Repayments of borrowings | (50,000) | (50,000) |
| -------------------------- | ------------------------------- | |
| Net cash used in financing activities | (50,000) | (50,000) |
| ========================== | =============================== | |
| Net (decrease)/increase in cash and cash equivalents | (54,416) | 83,602 |
| Cash and cash equivalents at beginning of year | 484,186 | 427,384 |
| ------------------------------- | ------------------------------- | |
| Cash and cash equivalents at end of year | 429,770 | 510,986 |
| =============================== | =============================== |
The notes on pages 27-37 form part of these financial statements.
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Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 124 City Road, London, EC1V 2NX.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. At the year-end, the charity was in a strong net asset position and had a healthy cash balance. Additionally, the charity's main creditor at the year-end related to a loan, with the majority of this not due to be repaid in the next year.
For these reasons, they continue to adopt the going concern basis in preparing the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible fixed assets costing £nil or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible assets are initially recognised at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
- 28 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- Freehold property - 2% straight line Long leasehold property - 10% straight line Plant and machinery - 25% straight line and 50% straight line Fixtures and fittings - 33% straight line Equipment - 33% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
4. Limited by guarantee
Shelter from the Storm is a registered charity and company limited by guarantee with no share capital. The liability of each member in the event of a winding up is limited to £1.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 347,166 | 176,850 | 524,016 |
| Gifts | |||
| Gifts in kind | – | – | – |
| ------------------------------- | ------------------------------- | ------------------------------- | |
| 347,166 | 176,850 | 524,016 | |
| =============================== | =============================== | =============================== |
- 29 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 292,378 | 177,793 | 470,171 | |
| Gifts | ||||
| Gifts in kind | – | 731 | 731 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ||
| 292,378 | 178,524 | 470,902 | ||
| =============================== | =============================== | =============================== | ||
| Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Shop income | 300 | 300 | – | – |
| Room hire | 1,000 | 1,000 | – | – |
| ---------------------- | ---------------------- | ------------- | ------------- | |
| 1,300 | 1,300 | – | – | |
| ====================== | ====================== | ============= | ============= | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest | 885 | 885 | 389 | 389 |
| ============= | ============= | ============= | ============= | |
| Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Fundraising expenses | 3,058 | – | 3,058 | |
| ====================== | ============= | ====================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Fundraising expenses | 1,617 | 1,000 | 2,617 | |
| ====================== | ====================== | ====================== |
6. Other trading activities
7. Investment income
8. Costs of raising donations and legacies
- 30 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
9. Expenditure on charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Staff costs | 139,792 | 55,000 | 194,792 |
| Depreciation | 62,065 | 21,179 | 83,244 |
| Insurance | 9,153 | – | 9,153 |
| Travel | 207 | – | 207 |
| Loss on sale of fixed asset | – | – | – |
| Other premises expenses | 9,990 | 2,000 | 11,990 |
| Counselling and English tuition | 11,502 | – | 11,502 |
| Guest expenses | 2,289 | – | 2,289 |
| Food and supplies | 759 | 26,000 | 26,759 |
| Legal clinic expenses | – | – | – |
| Service charges | 591 | – | 591 |
| Translation services | 44 | – | 44 |
| Volunteer costs | 878 | 4,000 | 4,878 |
| Light and heat | 21,226 | – | 21,226 |
| Project costs | 17,706 | 24,321 | 42,027 |
| Support costs | 38,823 | 4,400 | 43,223 |
| ------------------------------- | ------------------------------- | ------------------------------- | |
| 315,025 | 136,900 | 451,925 | |
| =============================== | =============================== | =============================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Staff costs | 86,692 | 117,619 | 204,311 |
| Depreciation | 89,285 | – | 89,285 |
| Insurance | 6,649 | – | 6,649 |
| Travel | 639 | – | 639 |
| Loss on sale of fixed asset | 750 | – | 750 |
| Other premises expenses | 7,899 | – | 7,899 |
| Counselling and English tuition | 10,252 | – | 10,252 |
| Guest expenses | 3,279 | – | 3,279 |
| Food and supplies | 19,177 | – | 19,177 |
| Legal clinic expenses | 56 | – | 56 |
| Service charges | 1,722 | – | 1,722 |
| Translation services | 64 | – | 64 |
| Volunteer costs | 258 | – | 258 |
| Light and heat | 21,027 | – | 21,027 |
| Project costs | 1,158 | – | 1,158 |
| Support costs | 33,284 | 8,000 | 41,284 |
| ------------------------------- | ------------------------------- | ------------------------------- | |
| 282,191 | 125,619 | 407,810 | |
| =============================== | =============================== | =============================== |
- 31 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
10. Analysis of support costs
| Total funds Total funds | Total funds Total funds | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Printing, postage and stationery | 461 | 514 | |
| Telephone | 3,022 | 3,824 | |
| Bank charges | 1,964 | 1,666 | |
| Computer costs | 1,194 | 1,006 | |
| Legal fees | 420 | – | |
| Administration expenses | 1,248 | 446 | |
| Finance costs | 17,574 | 13,241 | |
| Payroll and bookkeeping costs | 11,026 | 9,106 | |
| Accountancy | 5,960 | 10,280 | |
| Sundry expenses | 354 | 1,201 | |
| -------------------------- | -------------------------- | ||
| 43,223 | 41,284 | ||
| ========================== | ========================== | ||
| 11. | Net income | ||
| Net income is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 83,244 | 89,284 | |
| Auditor's remuneration | – | 6,000 | |
| ========================== | ========================== | ||
| 12. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 3,600 | – | |
| ====================== | ============= | ||
| 13. | Staff costs | ||
| The total staff costs and employee benefits for the reporting period are analysed as follows: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 156,167 | 165,991 | |
| Social security costs | 17,429 | 17,313 | |
| Employer contributions to pension plans | 21,196 | 21,007 | |
| ------------------------------- | ------------------------------- | ||
| 194,792 | 204,311 | ||
| =============================== | =============================== |
| The average head count of employees during the year was 4 (2022: 5). The average | The average head count of employees during the year was 4 (2022: 5). The average | number of |
|---|---|---|
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Directors | 5 | 5 |
| Employees | 4 | 5 |
| ------------- | ------------- | |
| 9 | 10 | |
| ============= | ============= |
- 32 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
13. Staff costs (continued)
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
Key Management Personnel
The aggregate remuneration of key management personnel was £108,806 (2022: £80,000) in respect of 2 (2022: 2) employees.
14. Trustee remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £Nil).
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £Nil).
15. Tangible fixed assets
| Long | Fixtures, | |||||
|---|---|---|---|---|---|---|
| Freehold | leasehold | Plant and | fittings and | Other fixed | ||
| property | property | machinery | equipment | assets | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At 1 Apr 2022 | 795,527 | 588,007 | 48,727 | 83,124 | 28,160 | 1,543,545 |
| Additions | – | 1,166 | 3,385 | 39,215 | – | 43,766 |
| Disposals | – | – | – | – | (9,167) | (9,167) |
| Transfers | – | – | – | 18,993 | (18,993) | – |
| ------------------------------- | ------------------------------- | -------------------------- | ------------------------------- | -------------------------- | --------------------------------------- | |
| At 31 Mar 2023 | 795,527 | 589,173 | 52,112 | 141,332 | – | 1,578,144 |
| =============================== | =============================== | ========================== | =============================== | ========================== | ======================================= | |
| Depreciation | ||||||
| At 1 Apr 2022 | 24,113 | 146,286 | 36,163 | 38,911 | – | 245,473 |
| Charge for the | ||||||
| year | 8,510 | 54,151 | 6,280 | 14,303 | – | 83,244 |
| ------------------------------- | ------------------------------- | -------------------------- | ------------------------------- | -------------------------- | --------------------------------------- | |
| At 31 Mar 2023 | 32,623 | 200,437 | 42,443 | 53,214 | – | 328,717 |
| =============================== | =============================== | ========================== | =============================== | ========================== | ======================================= | |
| Carrying amount | ||||||
| At 31 Mar 2023 | 762,904 | 388,736 | 9,669 | 88,118 | – | 1,249,427 |
| =============================== | =============================== | ========================== | =============================== | ========================== | ======================================= | |
| At 31 Mar 2022 | 771,414 | 441,721 | 12,564 | 44,213 | 28,160 | 1,298,072 |
| =============================== | =============================== | ========================== | =============================== | ========================== | ======================================= | |
| Debtors | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Prepayments and | accrued income | 6,401 | 6,156 | |||
| Other debtors | 127,282 | 73,633 | ||||
| ------------------------------- | -------------------------- | |||||
| 133,683 | 79,789 | |||||
| =============================== | ========================== |
16. Debtors
- 33 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
17. Creditors: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts | 50,000 | 50,000 |
| Trade creditors | 3,063 | 889 |
| Accruals and deferred income | 6,888 | 81,178 |
| Social security and other taxes | 4,045 | 4,108 |
| Other creditors | 2,384 | 590 |
| -------------------------- | ------------------------------- | |
| 66,380 | 136,765 | |
| ========================== | =============================== | |
| Creditors: Amounts falling due after more than one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 229,166 | 279,166 |
| =============================== | =============================== |
18. Creditors: Amounts falling due after more than one year
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £21,196 (2022: £21,007).
20. Analysis of charitable funds
Unrestricted funds
| At | ||||
|---|---|---|---|---|
| At 1 Apr 2022 | Income | Expenditure | 31 Mar 2023 | |
| £ | £ | £ | £ | |
| General funds | 1,056,921 | 349,351 | (318,083) | 1,088,189 |
| Moving on up project | 200,000 | – | – | 200,000 |
| --------------------------------------- | ------------------------------- | ------------------------------- | --------------------------------------- | |
| 1,256,921 | 349,351 | (318,083) | 1,288,189 | |
| ======================================= | =============================== | =============================== | ======================================= | |
| At | ||||
| At 1 Apr 2021 | Income | Expenditure | 31 Mar 2022 | |
| £ | £ | £ | £ | |
| General funds | 1,047,962 | 292,767 | (283,808) | 1,056,921 |
| Moving on up project | 200,000 | – | – | 200,000 |
| --------------------------------------- | ------------------------------- | ------------------------------- | --------------------------------------- | |
| 1,247,962 | 292,767 | (283,808) | 1,256,921 | |
| ======================================= | =============================== | =============================== | ======================================= |
The Move On Up project relates to amounts designated to enable the charity to provide truly affordable permanent housing to people it supports.
- 34 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
20. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 1 Apr 2022 | Income | Expenditure | 31 Mar 2023 | |
| £ | £ | £ | £ | ||
| COVID | 9,167 | – | (1,897) | 7,270 | |
| Equipment | 426 | – | (365) | 61 | |
| Holland Walk | 88,317 | – | (12,020) | 76,297 | |
| Impact Fund | 17,726 | – | (14,321) | 3,405 | |
| Oak Foundation 5yr | 10,000 | 104,900 | (62,400) | 52,500 | |
| PAY | – | 35,000 | (35,000) | – | |
| Philosophy fund | 1,395 | – | – | 1,395 | |
| Sleeping Pods | 53,162 | 30,000 | (6,897) | 76,265 | |
| Pro Bono Legal Clinic Fund | 9,002 | – | – | 9,002 | |
| Volunteers Social Calendar Events | – | 6,950 | (4,000) | 2,950 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| 189,195 | 176,850 | (136,900) | 229,145 | ||
| =============================== | =============================== | =============================== | =============================== | ||
| At | |||||
| At | 1 Apr 2021 | Income | Expenditure | 31 Mar 2022 | |
| £ | £ | £ | £ | ||
| COVID | 9,167 | – | – | 9,167 | |
| Equipment | – | 731 | (305) | 426 | |
| Holland Walk | 100,000 | – | (11,683) | 88,317 | |
| Impact Fund | 17,726 | – | – | 17,726 | |
| Oak Foundation 5yr | – | 65,000 | (55,000) | 10,000 | |
| PAY | – | 59,400 | (59,400) | – | |
| Philosophy fund | 1,395 | – | – | 1,395 | |
| Sleeping Pods | – | 53,393 | (231) | 53,162 | |
| Pro Bono Legal Clinic Fund | 9,002 | – | – | 9,002 | |
| Volunteers Social Calendar Events | – | – | – | – | |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| 137,290 =============================== |
178,524 =============================== |
(126,619) =============================== |
189,195 =============================== |
- 35 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
20. Analysis of charitable funds (continued)
The Pro Bono Legal Clinic Fund relates to amounts donated to provide free legal services to residents.
The Holland Walk Fund relates to amounts donated by Land Aid in relation to expenditure on the new shelter.
The Equipment Fund relates to amounts donated for new appliances for the charity.
The Philosophy Fund relates to amounts donated for philosophy sessions for residents.
The Impact Fund relates to amounts donated by C&H Richards to fund a project to develop and execute an Impact Assessment program.
The Oak Foundation Fund relates to developing a 5 year plan and strategy to help achieve the charity's mission and objectives.
The Covid Fund relates to one off donations to help the charity navigate the challenges of the coronavirus pandemic.
The Project Fund relates to amounts donated to fund the salaries of project workers.
The Volunteers Social Calendar Events fund relates to amounts donation towards volunteer events.
21. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,089,534 | 159,893 | 1,249,427 |
| Current assets | 494,201 | 69,252 | 563,453 |
| Creditors less than 1 year | (66,380) | – | (66,380) |
| Creditors greater than 1 year | (229,166) | – | (229,166) |
| --------------------------------------- | ------------------------------- | --------------------------------------- | |
| Net assets | 1,288,189 | 229,145 | 1,517,334 |
| ======================================= | =============================== | ======================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,172,453 | 125,619 | 1,298,072 |
| Current assets | 432,999 | 130,976 | 563,975 |
| Creditors less than 1 year | (69,365) | (67,400) | (136,765) |
| Creditors greater than 1 year | (279,166) | – | (279,166) |
| --------------------------------------- | ------------------------------- | --------------------------------------- | |
| Net assets | 1,256,921 | 189,195 | 1,446,116 |
| ======================================= | =============================== | ======================================= |
- 36 -
Shelter from the Storm
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2023
22. Analysis of changes in net debt
| Other | At | |||
|---|---|---|---|---|
| At 1 Apr 2022 | Cash flows | changes | 31 Mar 2023 | |
| £ | £ | £ | £ | |
| Cash at bank and in hand | 484,186 | (54,416) | – | 429,770 |
| Debt due within one year | (50,000) | 50,000 | (50,000) | (50,000) |
| Debt due after one year | (279,166) | – | 50,000 | (229,166) |
| ------------------------------- | -------------------------- | -------------------------- | ------------------------------- | |
| 155,020 =============================== |
(4,416) ========================== |
– ========================== |
150,604 =============================== |
23. Related parties
During the year the charity incurred costs of £9,360 (2022: £14,880) for payroll, bookkeeping and IT services provided by Kostech Consulting Limited, a company of which Kris Sparks, a trustee, is a sole director and shareholder. The payment for provision of services by a trustee are in line with the charity's memorandum and articles of association. At the year end, there was no unpaid balance (2022: £Nil).
During the year, donations of £54 (2022: £1,033) were received from the trustees.
During 2019 the charity borrowed £500,000 from Mrs Francine Sumners, a former trustee, in order to assist with the purchase and fit out costs of the new shelter. This amount bears interest at 3.5% above the Bank of England Base rate and is repayable in instalments over a ten year period. The balance as at the year end was £279,166 (2022: £329,166) and interest charged during the year was £17,574 (2022: £13,241).
- 37 -