Registered number.. 06761385 Choritu number.. 1129787 Trldent Reu¢h Thè People Charity Trustees, Report ond Financial Stotements For ihe yeor ended 31 March 2024 JD INS UOIT
Trident Reoch The People Chgrity {A compony limited by gvorantee) Contents Page Reterencè and administrative detoils of the Chorlty. its Trustees and advisers TrLtstees' report Independent ouditor's report on thè financiol stotements 10-13 statement of financiol activitie5 14 Balance sheet 15 Statement of cash flows 16 Notes to the financial statements 17-32
Trident Rèts¢h The People Charily (A compony limited by guarantee) Reference and Administrative Oetails ot the Charity. its Trustèes ond Advisèrs For the year ended 51 March 2024 Trvstees Brian Carr. Choir Yosmin Feoron (resigned 24 June 2024) Stephen Gobriel (resigned 24 June 2024) Chris Hondy Simon Hatchman PoJul Hoyword 801 Kovr Yvonne Leishmon (resigned l Jonvory 2024) Potrick Nccorthy (resigned 24 June 2024} John Mor."is (resigned 31 August 2023) Nicholas Murphy Jomie Whitmore David Harris Helen Litherlond Goreth Price Nigel Wilson loppointed I Sepiember 20231 Amondeep Gill-Knobbs loppointed 24 June 2024) Mohammed Mushtoq (appointed 24 June 2024) Company registèred nvmber 06761385 Charity re9lStered number 1129187 Aeglstered office 12 foirlie House Trident Close Erdington Birmingham 823 5T8 Administr¢Jtivè offi¢e 239 Hollidoy Street Birminghom Bl ISJ Company secretory Dovid Horris Senior monagement team John Morris. CEO (to 31 August 2023) Nigel Wilson CEO (from I Sepiember 20231 Dovid Harr'.s Christopher Derby (resigned 31 Morch 20241 Helen Litherlond Gareth Price Poge I
Trident Reach The People Chority (A company limited by guoronteè) Reference ond Administrative Detoils of the Charity, its Trustees tsnd Advisers (contlnued) For the yegr ended 31 M¢r¢h 2024 Independent ayditor Doins Audit Limited 2 Chomberlain Square Porodise Birminghom B3 3AX Bankers Notionol Westminster Bank I St Phillips Ploce Birmingham B3 2PT Page 2
Trident Reuch The People Chority (A company limitèd by guarantee) Trvsteès. report For the year ènded 31 Morch 2024 The Trustees present their onnuol report rogether with the audited finonciol sioiemenig of the Trident Reach The People Choriiy for the ueor 1 April 2023 to 31 Ivlorch 2024. The Annvol report serves the purposes ol boih o Trustees, repon ond o directors, report under company law. The Trustees confirm thot the Annual report and linoncicl stotements of the choritoble compony comply with the current stotutory requirements, the requirements of the charitoble compony'5 governing document ond the provisions of the Statement ol Recommended Proctice (SORPI applicoble to charities preporing their occounts in occordonce with the Finonciol Aeporiing Standord opplicoble In the UK ond Republic of Irelond IFRS102) (effective 1 Januory 2019). Strvcture. governunce ond manogement Constitution Trident Reoch The People Chority Is registei.ed as a charitoble compony limited by guorontee ond wos set up by o emorondum of Associoiion signed 20 November 2008. Methods of oppolntment or election of Trustees The boord of Trustees ore oppointed ofier o rigorous recruitment process which involves o formol induction progromme Trustees are selected bosed on iheir knowledge and skills so they con fill ony skills gops. The oim is io ensure the Trustees ore highly skilled so they con perform ol the highest level In their goveinonce of the charity. Organisationgl structure ond decision-moking policies Whilst the Boord Is responsible for the overoll strotegy and policy of Trident Fl&ach. doy-to-day matters are delegated to the Group Chief Executive. who oltends oll Boord meetings. Also in oitendonce (Jt the Board meetings are the GrDUP Finance Oirector and ihe Executive Teom Trident Reach is a 5ubsidiory of Trident Housing Associotion Limited ITHA). Ihe legol porent of the Trident Group. Trident Fieoch is a registered charily ond sei up to run the core ond support port ol the business. 11 owns no properties but uses o number ol THA prciperties to provide services. The services provided extend ccross Birrninghom. Sondwell. Wolverhompton. Dudley. Coventry. Worcestershire, Worwickshire. South Derbyshire and Shropshire. The Boord ol Trustees meet at leost four times o yeor ond eoch boord meeting is structured to hove themes linked io the corporoie colendor ond corporote plon. as well as considering specific business thot hos orisen since the previous meeting. Noin themes Include the business plan oTrd slrotegic direction of the choritu, perlormonce of existing contracts. setting budgets for the nexi finonciol 4eor. approving stotviory occounis. reviewng onnvolly terms ond conditions. reviewing the corporate risk register ond Soleguording of our sioff ond cusiomers Poge 3
Tridèftt Aeoch The People Chority (A company limfted by guorontee) Trustee5' report (tontinued) For the year ended 31 March 2024 Structure. governon¢e and manogement (continued) Risk management The Trustees review ond chollenge the risk register for the Trident Group ond specilicolly for Trident Reoch as o stonding itern on every meeting ogendo The risk register Is maintoiped by rhe Executive ond svpported by operational risk registers thot we use to make us owore of ony emerging risks tscross the business. The current highest Stroteg1c Risks within Tridenr Reoch ore.. Governonce Finance Heolth ond Sofety ol colleogues ond service users Finonciol Ftisk in Reoch is caused by the low morgins we see in this sector. However. Reoch corries no debt ond hos bvilt up significonl finonciol reserves. There is a specific risk In the nexi twelve months around the retendering of 5ignificont Cogtracts with Birminghom City Council. the results ol which ore not known ot time of writing. However. os we hove a strong track record of service delivery. we feel confident t4ot we will oltroct o lorge proportion ol the new controcts. Governonce risks ore multi-foceied wiihin Trident Reoch ond impacfed by Trident Housing's Governonce roting with the Regulotor of Sociol Housing os well (Js ihe Chorities Commission and Core Quolity Commission. Heolth ond Sofetg ol our Colleague5 and Services Users will always remoin o priority ond we hove excellent soleouording procedures In ploce to manage this. All of our stroteoic risks ore meosured by KPIS which will give vs on Eorly Worning of o risk materialising or subsiding. In our business Dlonning we run nvmerous stress tests and multi-vorionl tests to ensvre the Trident Group and it5 subsidiories are finonciol strong. Poge 4
Trident R¢a¢h The People Chority (A compony limited by gvarantèèl Trustees, report (continved) For the year ended 31 Mar¢h 2024 Obleciives and activitie5 • Objèctlves The key objectives ol the chority given In the Memorandum of Associotion ore.. To provide core ond svpport ond reloted services for the relief of the oged. the infirm. the sick and o.hers In necessilOUS C1rcumstonces'. and To prornote sociol Inclusion for the public benefit by preventing people from becoming sociollu exclude(J. relieving Ihe need5 of those people who ore sociolly excluded ond ossisting them to integrote Inio society In setting objectrive5 and plonning for activities. the Trustees hcjve given clue consideroiion to generol guidonce published by the Chority Commission relating to PLJblic benefit. including the guidonce 'Public benefit." running o chority (PB21' Ovr Vision Trident Reoch the People Chority is o people first orgonisotion working in portnership to moximi5e p051tivity. independence, ond poriicipotion. As part of the Trident Group. we ore a beacon of hope for our communities. Our Atms To support people ond communities to.. Exercise choice and moximum conlrol over their own lives ond communities Hove occess to troining. education. or work-like activitie5 to live Independently. Participote os octive ond equol citizens both economically ond sociolly. Develop sociol contocts ond access leisure octivities to help reduce the effecis of Isolation ond achieve community integroiion" and Work in portnership to enoble people ond communities to enhance their own economic sitvotions ond contribute to the locol economy Poge 5
Trident Rèoch The Pèople Charlty (A company limited by gvorantee} Trvstees, report (continved) For the yeor ended 31 March 2024 Achievements and performonce Performance in the period In delivering a surplus of £84k in 2025/24 Trident Reoch hos utilised 99.5% of its turnover on the vitol services we deliver ocross our communities. Through chollenoino times. Trident Reoch hos remoined o Beocon of Hope for the communitie5 ond customers we serve. A new Chief Execulive hos successfully been oppointed io toke vs through o new strategic plan. Our ethos will remoin onchored in housing. core ond support. Our new Slrotegic plon hos four key objectives Our people P8ople are the locvs of our business ond services. Our Homes - Quolity homes in ploces residents feel safe and are proud to live in. Our Business - BJilding a stronger. sustuinoble. independent business. Our Core ond Support- Working os o Beocon ol Hope to Individuols. fomilies ond communities. Trident Reach hos dellvered core and support octivify To 8.000 customers during the ueor coverip.g o wide geogrophy in 15 Locol Authorities across the West ond Eost Midlonds. sefvicing o number of needs inclvding homelessness. core homes ond housing ond care for people with leorning disobilities. Page 6
Tridènt Reoch The Pèoplè Charity (A company limited by guarantee) Trvsteès. rèport (continued) For the yegr ended 51 March 2024 Finunciol rèview Review of the year Trident Reach hos posted a Surplus lor the financiol year of £84k {2023 £57k) The chgrity h05 poid close ottention to its cost bose ond. In spite of cost pressures including those ossociated with the rise in Inflation. hos been oble to keep Its overoll cost Increose below the growth in Income. Toiol reserves for the chority ot 31 of Morch 2024 ore £2.5m (2023" £2.4m) with £2 Sm being unrestricted 12023." £2.Oml oncs £164k restricted 12025. £391k). Much of the reserves ot 31 March 2024 ore held in cosh resources of £1.7rn 12023. £979k) and the chority has no debt in ploce. The Trustegs hove reviewed the risks of the chorily. especiolly in the light of 1he curreni levels of cost inflotion Morgins ore light In the sector ond o smoll movement In costs or loss of coniroct could pose o chollenge. The budget ond the long-term business plan for the Chority. os well 05 the wider Group. hos been stress tesied ond is found to be linanciolly sodnd. Going coneern The stotutory occounts show o surplus of £84k The bucjget for 2024/25 is showing o surplus of £70k. The Executives ore confident of meeting this budget position ond hove hod odd11ionol Income of circo £140k confirmed since we Set the budget. The Charity hod cosh of £1.7m ond reserves of £2.5m (with £0.2m restricted) os ot 51 March 2024 with no debt ond therefore no loon covenonts to meet. Althgugh finonciol morgins ore low (os is usvo1 in this sector). Trident Reoch Is financiolly stoble. The Executives monitor morgins on oll individual projects to mitigote the risk thot Reoch slips into deficit The housing osseis ore owned by Trident Housing Associotion which gives us flexibility to repurpose properties ot the end of certoin conirocts or il existing usoge becomes less vioble. There Is o key risk oround conirocts wiih Birminghom City Council which ore ending in November 2024 We ore currenily in the bidding process for the replocemen., controcls which will conclude in Auoust 2024. The omount of controcis we win moy morch or even exceed the exisfino level ol controcts. however our budoet a5SLJmes thol we win on eouivolenr of 70/0 If we were ro wir less rhon Ihe budoet orget we will need to review stolfing ocross ihe orgonisotion. However, we feel conlideni thot will retain controcis due to our strong performance on these controcts in the lost five years. We work to o set of Golden Rules for Trident Reoch eD5urifjg that new Projects meet o 9% profit morgin lofter all overheodsl. We olso ensure thot Reach Is not more thon 50Yo of the Trident Group (currently running ot 40Vu) After moking appropriate enquines. the Trustees hove o reosor)oble expeciotion thot the Chority has adequate resources to continue in operotional existence for the foreseeoble future For this reoson. they continue to odopt the goin9 concern bosis Iii preparing the finoncial stotements Poge 7
Trident Reoch The People Charity (A company limited by guoranteÈ) Trustees, report (coniinved) For the yegr ended 31 March 2024 Reserves policy The Trustees regvlorly review free reserves to ensure there ore adeouote funds to support the octivities thot Trident Reoch underiokes ond to meet Iinonciol commitments os they become due. The trvstees consider thot unrestricted reserves should be ai o level io cover oi leosr the torol siofling closure cost of Trideni Reoch. Fvndruising Trident Reoch received donotions of £2,490 (2023" £1.1041 There is no dedicated lundroising teom ond professionol funcjroisers ore not used Given the low relotive value ol donations from third parties the charity 15 not registered with the Funclroising Regulolor. The chority hos policies in plcjce to ensure complionce with best fundroising pfociice which prohibit persistent opprooches ond undue pressure to give. Funds held as custodlan At 31 Morch 2024. the choirty held funds of £134.318 12023". £333.288) on beholf ol clients os custodion trustee. This omounts rjre held In seporote bonk occovnts tsnd ore not included in the Chority's balance sheet. Members, liabiltty The Members of the Chority guoronlee to contribute on omount not exceeding £1 to the assets of the ChoJrity in the eveni of winding up. Plans for the future Trident Reach will continue to cleliver cvrrent controcrs where finonciolly vioble, bul olso look for new OPPOflJnitie& As demonds ori the core and support sector rise, we ore sieodfost in our desire to remoin proociive in being o service provider for all sections of our commup.ities. We ore keen io continue io work in oll ol our existing locol outhorities. however we will need to ensure this Is beneliciol lor oll porties. We have retendered lor key controcis with Birmingham City Council for supporting Vulnerable Adults with housing ancl core services and we ore confident that our strong trock record In ihese oreos will hold us In goo(J stead going forward. not only in Birminghom but in attracting new busines5 for neighbouring locol outhorities. The development growth of THA brings opportunities to expond the geogrophy of the services offered by Reoch Any new opportunities will be ossessed ogoinsr our internol "Golden Flvles" ond corelul considerotion is mocje on oll new projects to ensure li delivers strong gociol ond finonciol outcomes We will only enter o controct where we know we will odd volue to the service ond io the cusromers Poge 8
Trident Reach The People Charity (A compuny limited by guorantee) Trustees, report (continued) For the year ended 51 Morch 2024 Statement of Trustees, responsibilities The Trustees (who are olso the directors of the Charity for the purposes of compony lo)w) oJre responsible for preporing the Trustees, report and the finonciol stotements in occordonce with opplicable law and Uniied Kingdom AccoLJnting Standards (United Kingdom Generolly Accepted Accounting Prociice). Company low reouires the Trustees io prepore finonciol statements for eoch finonciol yeor. Under compony low. the Trustee5 must not opprove the finonciol staiemenls unless they ore satisfied ihoi they give o true ond fair view of the siote of affairs of the Chorily ond ol its incoming resources ond applicotion of resources. inclu(Jing it5 income oncl expenditure. for that period. In preporing these finonciol stotements. the Trustees are required to". select suitoble occounting policies and then opply them consistently. observe the merhods ond principles of the Chorifies SORP (FRS 102)". moke judgments und accounting estimates thot ore reosonable and prudenr". siote whether opplicoble UK Accounting Stondords (FRS 102) hove been lollowecj. subject to ony materiol deponures discloged ond exploined in the financiol stotemenis.. prepore the finonciol 5tatemenis on the going concern bosis unles5 It is inappropriole to presume thot the Chority will continue in business. The Trustees ore respopsible for keeping odequote occounting records ihol ore suff Icient to show and exploin the Chority's tronsactions ond d15close with reosonoble occurocy ot time the finonciol position of the Chority ond enoble Ihem to ensure thot the finonciol stotements comply with the Cornponies Act 2006 They are also responsible for soleguording the Ossets of the Chority ond hence lor toking reosonable steps lor ihe prevention and detection ol fraud ond other irregulorities. Diselosvre of informatlon to oudltor Each ol the persons who ore Trustees ol the time when this Trustees, report Is oppi.oved hos confirmed thot.. so for a5 thoi Trustee Is owore, there is no relevont cjudit inlormoiion of which the charity's auditor is unoware. ond Ihot Trustee has ioken oll the steps ihat oughi io hove been token 05 0 Trvstee in order to be aware of any relevont oudit inlormoiion ond lo establish that ihe choriiy's OLSditor 15 awore of thoi Informotion. Audltor The oudiior. Doins Audit Limited. hos indicoted his willingness to continue in ollice. The designo)led Trustees will propose 0 motion reoppointing the ouditor ol o meeting ot the Trustees Approved by order of the members of the boord of Trustees ond signed on their beholf by. Slmon Hatchmo Choir of Audii & Risk Committee Dote" 23 September 2024 Poge 9
Trident Reach The People Charity (A company limited by guarantee) Independent Avditor's Report to the Members of Tridènt Reach The People Chority Opinion We hove ouditecl ihe finonciol statements of Trident Fleoch The Peop.:e Cknority (the 'charity') for the yeor ended 31 Morch 2024 which cornprise the Stotemer.t of finonciol octivities. the Balonce Sheet, the Stotemeni of cash flows ond the reloted notes, Including o summory of signilicont occounling policies. The finonciol reporting fromework thot has been opplied in their preporatlon 15 opplicoble low ond United Kingdom Accounting Sttsndords. including Financiol Reporting Srondai"d 102 'The Finonciol Reporiing Siondord opplicable in the UK ond Republic of Irelond, {United Kingdom Generally Accepted Accounting Practice). In our opinion the finonciol siotements. give o true ond fair view of the siote of the choritoble compony's offairs as ot 31 March 2024 ond of its Incoming resource5 ond opplication of resources. Including its Income ond expenditure for the yeor ihen ended., have been properly prepored Ifi occordonce with United Kinodom GeneroJllu Accepted Accounting Proctice.. and hove been prepared in occordonce with the requirements of the Componies Act 2006. Bosis for opinion We cop.ducted our oudit In accordonce with IntefDOt10nol Stondords on Auditing (UK) (ISAS (UK)) and opplicoble low. Ovr responsibilities under those stondords ore further described In the ALJditor's responsibilitie5 for the oudit ol ihe finonciol stotements section ol our report. We ore ir,dependeni of the chafitoble compony In occordonce with the ethicol requiremen;s Ihot ore relevont to our oudit ol the finonciol stotements In the Unired Kingdom. including the Finonciol Reporting Council's Ethical Stondord. ond we have &ullilled our other ethicol responsibilities In occordance with these requirements. We believe thot the audit evidence we hove obtoined is svlficient ond oppropriote lo provide o bosis lor our opinion. Conclvsions reloting to going concern In ouditing the linonciol starements, we hove concluded thot the Trustees, use of the going concern basis ol occounting in the preporoiion ol the finonciol siotements is approprioie. Base(J on the work we hove performed. we hove not Identified any materiol uncertointies reltsting to events or conditions thoi. individuolly or colleciively, moJy cost significoni cjoubt on the choriioble componu's obility to continue os o going conce¢n for o pei.iod of ot leost iwelve month5 from when the finonciol sioiements ore oulhorised lor issue. Our responsibilities ond the responsibilities of the Trustees with respect to going concern ore described in the relevont secrions of this repori Page ICI
Trident Reoch The People Churity (A compony limited by gvorantèe) Independent Auditor's Report to the Membèr5 of Tridènt Reach The People Chority (continued) Other information The other Inlormotion comprises the informotion inclucjed in the Annuol report other thun the finonciol stotements ond our Aurjitor's report thereon. The Trusiees ore responsible for the other informotion contoined within the Annuol report Our opinion on the financial stotements does noi cover rhe other informoiion ond. except to the exrent otherwise explicitly stoted in our report. we do not express any form of ossurance conclbsion thereon. Our responsibility is to reod the other informotion ond. in doing so. consider whether the other information is moteriolly incon515tent with the finonciol stotements or our knowled9e obtoined in the covrse of the audit. or otherwise oppeor5 to be moteriolly missiated. 11 we Identif such moieriol inconsisiencies or opporent motericjl misstatements, we are required to determ'.ne whether this gives rise to o materiol missiotement in the finonciol slotements themselves If. based on the work we hove pefformed. we conclude thot there 15 0 moterial misstotemeni of ihis oiher informoiion. we ore required to repori thoi foct. We hove nothing to report In this regard Opinion on other mutters prescribed by the Companies Art 2006 In our opinion bosed on the work undenoken in ihe course of the oudit.. the Information given in the Trustees, report for the linoncial yeor for which the Iinonciol staterrients are prepored is consistent with the financiul statements the Trvslees, reporr hos been prepored in r)ccordonce with opplicoble legol requirements. Matters on which we are required to report by exception In the light of our knowledge ond undersionding of the choritoble company ond Its environment obtoined in ihe course of the oudit. we hove noi Ideniified moreriol missiotements in the Trvstees, report. We hove nothing to report in respeci ol ihe following motiers In relotion lo which Componies Act 2006 requires us io report to you if. in our opinion". odequote occounting recoros hove not been kept. or return5 odequote lor our audit hove not been received from bronches not visited by vs". or the finonciol sioiemenis ore not In ogreement wlth the occountin9 records cjnd returns.. or certain disclosures of Trustees. remunerolion specified by low ore noi mode., or we have not I'eceived oll the Inlormoiion oncl explonorions we reqvire for our oudit Poge 11
Trident Reach The People Charity (A comp¢ny limited by guarontee) Independent Auditor'5 Report to the Members of Trident Reach The People Charity (continued) Responsibilities of trvstees As exploined more fully in the Trusiees, respofjsibil".ties stotement. the Trustee5 (who ore 0150 the directors Df the choritoble compony for the purposes ol compony lowl ore responsible for the preparatioii of the finonciol stotements ond lor being sotisfied thot they give o true ond foir view, oncj for such Iniernol control os the Trusiees deiermine is necessory to enoble the preporotion of linanciol statement5 that ore free from moieriol misstotement, whether due to froud or error. In preporino the finonciol siotemenis. Ihe Trustees ore responsible for asses51ng the choritoble compony's obility to continue 05 a going concern. cli5closing. os opplicoble. motters reloted to going concern ond using the going concern bosis of accounting unles5 the Tru51ees either intend io liquidole the choritoble compony or to cease operolions. or hove no realistic oltefnotive but to do SO. Avditorfs responsibilities for the audit of the finonciol stotements Our obieciives ore io obtoin reosonoble ossvronce oboLJt whether the finonciol stoiemenis os o whole are free from materiol misstotemeni. whether due to froud or error. ond to issue on Auditor's report that inclvdes our opinion. Rea50noble ossuronce is o hioh level of ossuronce, but Is not o guorontee thot an oudit conducted in occordance with ISAS (UK) will olwoys detect o moteriol missioremenl when i: exisis Misstotemeiits can arise from Iroud or error ond are considered moteriol If, individuolly or ig the ag9regole, they could reosonobly be expected to Influence the economic decisions of users token on the basis of *hese finonciol stotements. Irregulorilies. including froud. ore instance5 of non-complionce with lows ond re9ulotions. We csesign procedures In line with our responsibilities, outlined above, to detect materiol misstotements In respeci of irregulorities. Including Iroud. The extent to which our procedures ore copoble of detecting irregula."i:ies. including Iroud is detoiled below". Our approoch to identifying ond ossessing the risks of moteriol misstatement In respect of irregulorities. including fraud ond non-complionce wilh lows ond reguloiions. wos os follows the senior stotutory auditor ensured thot the engogement teom collectively hod the oppropriote competence, copobilities ond skills to identify or recognise non-complionce with opplicoble lows oJnd re9vlotions'. we identified the laws and regulotions applicoble to the compony rhrough discussions with directors ond other monogemenl, ond from our commercial knowledge ond experience of the sector.. we locused on specific lows and regulation5 which we considered moy hove o direct moteriol effect on the finonciol stotemenls or the operations ol the compony. including the linanciol reporting legislotion Componies Act 2006. toxation legis,'oiion, onli-bribery. employment, ond environmental ond health ond sofety legislotion. we ossessed the exieni of complionce with the laws and regulations identified obove through making enquiries ol monagement ond inspecting legol correspondence.. ond ideiitilied Iow5 ond regulotions were communicoled within the ovdit teom regulorly ond the teom remoined olert to Instance5 of non-complionce ihroughoul the oudit. We ossessed the susceptibility of the compony s finonciol stotements to moteriol misstotement. including obtainin9 on vnderstonding of how fraud might occur, by". moking enouiries ol monagement as to where they considered there wos susceptibility to froud. their knowledge of ocluol. suspected ond alleged froud. considering the Internol controls ln place to miligote risks of froud ond non-complionce with lows ond regulotions Pooe 12
Trident Reoch The People Chority (A company Ilmlted by gvorontee) Independent Auditorfs Report to the Members of Trident Reach The People Chority (¢ontinved) To oddress ihe risk of froud through manogement bios oncl override of conirols. we. performed onolyticol procedures to Identify ony unusvol or unexpected relationships., tested journal entries to identify unusuol tronsoctions.. investigoted the rationale behind signilicont or unusuol tronsoctions. In response to the risk of Irregulorities ond nc)n-complionce with lows ond regulotions. we designed procedures which in£luded. but were noi limited to. ogreeino Iinoncial stotement disclosvres lo underlying supporting documen;otion'. reoJding the minutes ol meeting5 01 those chorged with governonce.. enqviring of mr)nogement as to actuol and potentiol Ii;igotion ond cloim5'. reviewlng correspondence with HMRC. relevant regulotors ond rhe compony's legol odvisor5. Becovse of the inherent limitations of on ovdit. rhere is o risk thot we will not detect oll irregulorities. Includiiig those leoding to o moteriol misstatement in the finoncial stotements or non-compliance with regulotion. This risk increases the more thoi complionce with a law or regulotion 15 removed from the events ond tronsoctions reflected In the Iinonciol stotemenis, os we will be less likelu to become owGre ol instonces of non-complionce. The risk 15 Qlso greoter regording irregulorities occurring due to froud rother than error. os froud involves Inteniionol conceolment. forgery. collusion. omission or misrepresentorion. A further description of our responsibilities for the oudit of the Iinoncial stotements is locoted on the Finonciol Reporting Covncil's website ot". www.lrc.or ovdiiorsres on This description forms part ol our Auditor's report. Use of our report Thig report is mode solely to the choritoble comptsny's members, os a body. in accordance wiih Chopter S ol Port 16 of the Componies Act 2006. Our audit work has been undertoken so rhot we might stote to the charitable cgmpony's members rhose motlers we ore required to stote to them in on Audiior's report ond for no other purpose To the fullest extent permiiied by low. we do not occept or assume responsibility to onyone other thon the charitoble compony ond its members. as a body. for our oudit work. for this report. or for the opinions we hove formed. 6J//4 Andrew Morris (Senior stotvtory ouditor) for ond on behalf of Doins Audit Limited Statutory Auditor Chortered Accountonts Birminohom 23 September 2024 Poge13
Trident Reoch The People Charity (A compony limited by gvoranteel Stgtemènt of finoncial octivlties {incorporoting income ond expenditvre g¢¢ount) For the year ended 31 March 2024 Vnrestricted funds 2024 Restricted fvnds 2024 Totol tvnds 2024 Tgtul funds 2023 Note Income from= Donotions ond legocies Choritoble tsctivities 2.490 2.490 1,104 16.765.242 412.543 17.177.785 17,008,250 Invesiments 13.659 13.659 Totol income 16,781.391 412.543 17.193.934 17.009.354 Expénditure on: Choritoble octivities 16.639.229 470.431 17,109.660 16.952,763 Total expenditure 16.639.229 470.431 17.109.660 16.952.763 Net income/(eKpenditurÈ) Transfers between funds 142,162 (57.888> 84.274 56.591 13 169,501 069.501) Net movement in funds 311,663 (227.589) 84.274 56.591 Recontiliotion of funds.. Totol funds brought forward Net movemenr in funds 13 2.049.515 391.524 2,441.037 2.384 446 311.665 (227.389) 84.274 56.591 Total funds carried forward 13 2,361,176 164.135 2.525.311 2 441,037 The notes on poges 17 10 32 form port of these financiol statements. Poge 14
Trident Reoth Thè Peoplè Chorlty (A company limited by gvorantee) Registered nvmber.. 06761385 8alonce sheèt As ot 31 March 2024 2024 2023 Note Fixèd assets Tongible ossets CvrrÈnt ossets 10 141.763 222.850 Debtors 2.037.520 3.061,150 Cosh ot bank and in hand 1.745.869 978.931 3.783.189 4.040.081 Creditors.. omounts lollino due within one yeor 12 (1.399.641} (1.821.894) Net current ossets 2.383.548 2,218.187 Total net assets 2,525,311 2,441.037 Charity funds Re5tricled funds 164,135 391.524 Unrestricted funds 13 2.361.176 2.049.513 Total funds 2.525.311 2.441.037 The Trustees ocknowledge their respor.sibilities for complying with the requirements of the Act with respect to accounting records ond preporotion of finonciol statements. The finonciol srotemen1s were opproved ond authorised for issue by ihe Trustees ond signed on their beholf by. Simon Hotchmun Choir of Audit & Risk Commitiee Date. 23 September 2024 The notes on pages 17 to 32 form pon of these finonciol statements. Poge 15
Trident Reoch The People Charity (A compony limited by guarantee) Statement of ¢ash flows For the year ended 31 March 2024 2024 2023 Note Cash flows from operoting octivities Nei cosh used in operoting octivities 15 767.188 (1.082.550) Cash flows from investing ortivities Bonk Inlerest received 13,659 Purchase of iongible fixed ossets 113.910) {52.314) Net cosh used in investlng activities (251) <52.3141 Chonge in cash and cash eqvivalents in thè yèor 766.937 0.134.864) Cash ond cosh equivolents ot the beginning of the yeor 978.932 2.113.796 Cosh ond cash equivalents Ot thè ènd of the yeor 16 1.745.869 978,932 The notes on pages 17 to 32 form pori of these finonc1al statements Poge 16
Trident Reach The People Chgrity (A company Ilmited by guarantee) Note5 to the financiol stotemènts For the year ended 31 Mar¢h 2024 Generol information The company is Incorporoted in Englond ond Woles Jnder the Componies Act 2006 ond is registered os o chority with the C•ority Commission. The address of the registered office is given on page l. The principol octivities of the company ore sel out within the Trvsteeg, report on page 5. The compony Is limited by guoronlee. In the event ol the compony being wound up. the liobilily in respect Df the guoroniee is limited to £1 per member of the corrpony Accounting pollties 2.1 8u5is of preporatitsn of finoncial statements The finonciol stotements hove been prepored in occordonce with the Charities SORP (FRS 102) - Accounting ond Repc>rting by Chorities". Stotement of Recommended Proctice opplicoble to charities preporing their occounts in occordonce with the Finonciol Reporiing Stondoro opplicoble In the UK ond Republic ol Ireland {FRS IQ2) (effective l Jonuory 2019). the Finonc'al Reporting Stondord opplicable in the UK ond Republic of Irelond (FRS 1021 ond the Componies Act 2006. Trident Reoch The People Chority meets the definition of o publlc benefit entity under FRS 102. Assets ond Iiobili15es are initialls recogniseo ar historicol cost or tronsoction volue unless otherwise stoted in the relevoni occounting policy 2.2 Going concèrn The stotutory occounts show o surplus of £84k. The buoget for 2024/25 is showing a surplus of £70k. The Executives ore confident ol meeting :his budgei position onts have hod additional income of circa £140k confirmed since we set the budget. The Chorily hod cosh of £1.7m ond reserves of £2.5m (with £0.2m resiricted) os ot 31 Narch 2024 wi+h no debt ond therefore no loon covenonis to meet. Although financial morgins ore low (05 is usuol in this secior). Trident Reoch Is fiionciolly stoble The ixecutives monitor morgins on oll individual projects io mitigote the risk thot Reoch slips into deficit. T.le housing os5ets ore ownecj by Triclent Housing Associotion w4ich gives us flexibility to repurpose properties ot the end of certoin contracts or if existing usoge becomes less vioble. There 15 a key risk oround contrqcts with Birmingham City Council which ore ending In November 2024 We ore currently In the b.'dding process lor the replocement colltrocls which will conclude in August 2024. The omount of controcts we win may motch or even exceed the existing level of contracts, however our budget QS5umes thoi we win an equivolenl of 70% If we were to win less thon the budget iorgei we will need to review stoffing across the or9onisotion. However. we feel confident thot will retain controcts due to our Strong performonce on these controcts in the last live yeors. We work to a Set of Golden Rules for Trident Reoch ensuring thot new proiecis meet 0 9Yo profil rnorgln lofter oll overhecids). We olso ensure thot Reoch Is not more thon 50% ot the Trident Group (currently running at 40%). Poge 17
Trident Rèach Thè People Charlty {A company limited by guorontee) Notes to the flnonciol statements For the yeor ended 31 March 2024 Accountlng pollcies (continued) 2.2 Going ¢oncèrn (continued) After moking oppropriote enquirieg. the Trusrees hove o reosonoble expectotioii thoi the Charity hos odeouoie resources to continue In operationol existence for the foreseeoble future. For this reoson. they continue to adopt the goir,g concern bosis In preparing the finoncicl stotements. 2.5 Income All Income is included in the Stoiemeni of Finonciol Activities (SOFA) when the charitoble cornpony is legolly enbtled to the income and the omount con be ouonlified with reosonoble accuracy. Income from donotions represents donotions ond fund-r0i5ifjg activity for Individuol specified projects supported by the choritable compony Income for charitable octivities represents conrrocis held with rh."rd purties, for the delivery of o ronge of core ond support services ond orontg for choriioble octivifies ihoi reloie to specific funds which allow the choritoble compony to provide "volve odded" octivities in conneciion wilh moin conirocts. Flevenve from o controci to provide services Is recoonised In the period in which services ore provided in occordonce with the stoge of complerion of the conlroct when oll of the fDIIDwing conditions are satisfied". the omount of revenue con be meosured reliobly". Ir Is proboble thot the Charity will receive the consideroiion dve under the controct.. the sioge of completion ot the end of the reporti.Ig period con be Meosured reliobly.. ond the costs Incurred onol ihe costs to complete the controct con be measured reliably Gront5 ore included In the Stotement of Iir.onciol octivities on a receivable bosis The bolance of income received for specific purposes bvr not expended during the period is shown in the relevant funds on the Bolonce sheet. Where Income is received In odvonce of entitlement of receipt, its recogyition 15 deferred ond included in creditors as delefred Income. Where entitlement occurs before income is received. the income is occrved. Income tox recoveroblE in relation to donoiions received unrjer Gifi Aid or deeds of covenont is recogni5ed ot the time of the donation. Income lox recoveroble in relotion to invesiment Income is recognlsed ot the time the investmenr Income Is receivoble Oiher Income is recognised In the period in which it is receivoble ond io the extent the goods hove been provided or on completion of the Service. 2.4 Expenditure All expenditure is occounted for on an accruols bosis and hos been clossified under rheheodlng rhor aggregotes oll costs relored to thot cotegory. In oddifion, tspproprioie opporiionmeni of supporr ond monogement costs is chor9ed to 9ive o lull cost of running euch service. Governonce costs include the costs ol governonce orrongemenrs. which relote to the general running of the choritoble compony. All expenditure is i.Iclusive of Irrecoveroble VAT. Poge 18
Trident Reach The People Charity (A company limited by guaranteè} Notes to the flnonciol stotement5 For the year ènded 31 Morch 2024 Accounting policies (continued) 2.5 Interest rèceivable Interest on funds held on deposif is inclucjed when receivcsble ond ihe omouni con be measvred reliobly by the Chority. Ihis is normolly upon noiificotion of ihe interest poid or payoble by the In511tution with whom the funds ore deposited 2.6 Taxatlon The Charity is considered io poss the tests set out in Parogroph 1 Schedule 6 of the Fifitsnce Act 2010 ond therefore it meets the definilion of o ch(sritoble company for UK corporotion lox purposes. Accordingly, the Chority is poientiolly exempt from lo%otion In respeci of income or copital goins received within cotegorie5 covered by Chopter 3 Part 11 of the Corporotion Tox Act 2010 or Settion 256 of ihe Toxotion of Chorgeoble Goins Aci 1992. 10 the extent thot such income or goins ore opp5ied exclusively to choriroble pvrposes. 2.7 Tangible fixed ossets ond depreelatlon Tangible fixed ossets ore Iniriolly reco9nised at COSI. Afier recognition. under the cost model. tangible fixed Ossets ore measured ot cost less occumuloted depreciotion ond ony occumulated impairment losse5. All costs Incurred to bring o tangible fixed osset Into its intended working condition should be included in the meosurement of cost. Depreciotion Is colculated to wriie off the cosi less residual volue ol fixed assets on o stroighi line over their estimoted lives os follows.. Leosehold renovotions Motor vehicles Furnishings Office furniture CornpLJter & software 5 - 10 years or over the remoining life ol the lease 5 yeors 5-7years 5-7yeors 3 - 10 yeor5 2.8 Oebtors All debtors ore short term and ore meosvred ot transaction price. less any impoirment. 2.9 Cash ut bonk ond in hand Cosh ot bonk and ip hond inclu¢Jes cosh ond short-term highly liquid invesimenls with o short molurity of Ihree months or less from the dole of ocouisirion or opening of the deposit or similor occouni. 2.10 Creditors All cred1tors cjre short term ond ore meosured ol tronsaction price. 2.11 Operating leoses Reniols poid under operating leoses ore chorged to the Stolement ol linanciol Ociivities on o siroighi-line bosis over the leose term. Page 19
Trldent Reu¢h Thè People Chorlty (A tompany limited by guorontèe) Note5 to thè financial stotements For the year ended 31 Morch 2024 Accounting policies (continued) 2.12 Pensions Shori term employee benefits ond contributions to defined contribution pension plons ore recognised os on expense In The period in which they are incurred 2.13 Flnanclal instruments Trident Reoch hos finonciol ossets ond liabilities of o kind thof quolify 05 bosic finonciol instruments. 8osic linonciol instruments ore initiolly recognised at tronsoction volue ond subsequentlu measured ot the present volue of future c05h flows (omortised cost) Finonciol ossets held or omortised cosl comprise shott-term cosh deposits and the chority's debiors excluding prepoyments. finonciol Iiobiliiies held ot omonised cost comprise the chority's Short ond long-rerm creditors excluding deferred income ond toxotlO.I poyoble. Finonciol liobilities held ot foir volue comprise the chority's provision5. No discouniing hos been opplied on the basis thoi the periods over which amovnts will be settled ore such that ony discountino would be immateriol. 2.14 Fund occounting Generol funds are unrestricted funds which are availoble for use OT the discretion of the Trustee5 in fbriheronce of the general objectives of the Chority ond which hove not been desigp.oted for other purposes Most of the current funding 19 in ihe form ol service controcts. oll of which corry specific service torgets. bul olso ollow for contributions ro centrol odministrotion costs ond rhe generotion of smoll surpluses io be freely opplied. therefore ore rreoroble os Ljnrestricted funds. Restricted funds ore funds which ore to be vsed in occordonce with specific restrictions imposed by donors or which hove been r05sed by the Charity for porticulor purposes Criticol gccountlng estlmates and areos of judgment In the opplication of the chority's occounting policies. which ore descrioed in note 2. the Trustees are required to moke judgement5, estimates ond ossumptions obout the corrying omounts of ossets and liabi11ties thoi are not reodily opporent from other sources. The estimotes and ossociated ossumptions ore bosed on historicol experience ond other foctors thoi csre considered to be relevant. Actuol results moy be different from these estimates Critical occounting e5timotes ond assumptions.. Tangible fixed ossets ore deprecioted over their useful lives taking into occovnt residuol volues where opproprioie. The octual lives of the ossets ond residuol volues are ossessed onnvolly ond moy vory depending on o number of foctors. In re-ogsessing ihe ossei lives, foctors such os technologicol Innovotion prodvcl life cycles and moinienonce programmes are ioken Into occount. Residual volues consider such ihings os future mcjrket conditions. the remoining Ille ol the osset ond projected disPOs01 volues. Paoe 20
Trident Reo¢h The People Chority (A company IlmSted by guorontee) Notes to the finoncial stotements For the yegr ended 31 Murch 2024 Income from charitablé u¢tivitlès Unrestricted Restricted Total Vnrestri¢te¢l Restricted Toiol funds funds funds fvnd5 funds funds 2024 2024 2024 2023 2023 2023 Grants for thurttuble Ottivities Oeelonds 5 - 15 Activities Clorion 9.992 9.992 Y.807 Oigitalisotion 8irminghom Core Homes Digitalisotior? Shrop5hire Core Homes Oigitalisotion Ducley Core Homes Housing Firsi Respte Rooms Personalisoiion 31.807 4.950 8.960 4.950 8.960 218.668 218.668 430,121 514.112 430.121 514.112 138.166 138.166 Subtotal 412.543 412.545 944.255 944,233 Charitable activities - services Residenriol Core Services 5.541.098 5.541.098 4,951,351 4.951.351 1.530.320 1.140.590 1.424.124 106.507 976.238 2,685.266 Domiciliory Core SeTvices Mental Healih Service5 1.704.967 1.704.967 1.530,520 1.140.590 1.424.124 885.655 885.653 Y(xJno People Service5 Older People Services Dcmresiic Violence Services 1.676.745 1.676.745 70.834 70.834 106.507 702.531 702.531 976.238 Hcmeless Services 2.775.659 2.775.659 2.685.266 Leorning Olsobiliiy Services 698.974 698.974 566.349 566.349 PURE 367.373 367.375 474.501 474.501 Deelon(ts Hall 19.652 19.652 7.707 2.197.613 3.451 16.064.017 7.707 2,197.613 3.451 16.064,017 Adults 2.321.305 2.321.305 Other Income 453 453 Subtotal 16.765.242 16.765,242 Total 16.765.242 412.543 17,177.785 16,064.017 944,235 17.008.250 Page 21
Trident Reoch The People Churity (A company limited by guarontee) Notes to the flnoncial statements For the ueor endèd 31 March 2024 Analysls of èxpènditvre on ¢horitable actlvltles DSreci costs Support Costs 2024 2024 T¢tol Olreet costs Svpport costs 2023 2025 Totol 2024 2023 Choritable ser£25 ResldeThttol Cgre Services 5.554.885 744 581 6.299.466 4.937,943 1.796.462 1.003.652 1.017.204 72.964 694.078 214 519 5.632.021 2.010.981 1.163.539 1.216.837 Domiciliory Core services Mentor Heollh services 227,594 118.?25 2.047.113 911.764 1.327.680 5S.266 795.539 1.105.854 45.811 448.271 2.078,595 464.272 25?.110 159.887 199,633 14.950 Young People servlces Older People services DoTnesTic Vlolence rvIceS omele55 servlces 223.B26 9.456 94.976 388.963 93.305 543.247 2.467.557 557.577 300.150 32.110 2.097.238 60 479.867 2,335.561 434.528 519.326 21.868 1.677.385 10.235 14.10&994 136.848 377.821 77.989 66.515 616.715 2.713.382 Leornjng d150bility services PURE 385.841 Deelonds Holl 28.153 3.957 1,080 308,060 484 22.948 1.985.445 10.719 16.55$.838 Adults her expendlture Subt¢tJl 1 787.370 309.868 60 14.575.378 1263,852 16.639.229 2.251.844 Chorltoble grtsnts Dedicgted Heolth ayd Well- 53.093 53.093 Deelonds 5 - 15 Aciivityes Clorion 661 Digito1150tson &rmingham Core Homes 15.939 15.939 thgitOSOfion ShropsTryre Care Homes 4.180 Dlglto'lsotion Dudle Cgre Homes 8.960 8.960 Hov51ng Flrst Loclywood Initiolive New HTrrizon DA Service 244.581 19.063 244.581 19.063 281.327 281.327 66.013 156.280 66.013 Aespite Rooms SWEP 162.418 14 630 162.478 14.630 470.451 156.280 37.213 593.926 37.213 593.926 Subtotol 470.431 Tthol 14.845.B08 2.265.B52 17,109.660 14.700.919 2.2SI.844 16,951763 Poge 22
Trident Reoch The People Chority (A company limlted by guarantee) Notes to the finoncial stotements For the year ended 31 Murch 2024 Analysis ot suppgrt ¢ostS 2024 2023 Office running cost5 70.842 284.697 Telethones 130.368 153.005 Photocopying 91.093 58.845 pt09e. printing & stotionery 15.592 6.559 Solorie5 of Centrol Teoms 903.300 842.255 Trovel for Cenlrol Teoms 5.672 44.260 ICT 975,188 792.100 Morketlng 138 3.826 Professionol ond legal fees Totol support costs 83.003 66.302 2,263.852 2,251.847 Net income/(expenditvre) 2024 2023 Net Income Is stoted ofter charging.. Fees poyoble to ihe Chority's ovditor for the oudit of the Chority's onnvol accounts 7.800 7,800 Depreciotion of tangible fixed ussers Operoting leose expense 88.730 178,817 152.663 228.879 The Charity hos ioken odvontoge of the exemption not to disclose omounis poid for non-oudit services, including Internol oudi1 fees. os these ore disc105ed In the coiisolidated occounts of the porent orgonisotioii. Poge 23
Trident Reach The People Charity (A company limited by gvorantee} Notes to the financiol statements For thè year endèd 31 Morch 2024 Stoff costs 2024 2023 Woges ond soorieS Sociol security costs Pension contributions 10,815.482 9.499,106 755.567 710,824 249.805 215,020 11.820.854 10.424.950 Agency fees 1.407.709 2.054.891 13.228.563 12.459.841 Stoff cosig include £29,613 In respect of redundoncy (2023. £17.7061 tsfter cerioin controcts come to on end. The overoge number of persons employed by the Chority during the yeor wos os follows". 2024 2025 No. No. Office stoff 18 17 Core ond support 463 486 V.ointenonce 482 505 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 wos". 2024 No. 2023 No. In the bond £60.001- £70.000 All members of key monogement personnel are remuneroted ihrough rhe poreni orgonisotion. o proponion of which is rechorged to the Chority ond Inclvded within the rechorges disclosed in note 20. Trvstees, remuneration and expenses During the yeor no Trustees received ony remunerotion or other benefits12023 - £NIL). Ouring the yeor ended 31 Morch 2024. no Trustee expenses hove been incurred (2023 - £NIL). Pooe 24
Trident Rèoch The Pèople Chority (A company limited by gvgrantee) Notes to the flnoncial statements For the year ended 31 March 2024 10. Tongible flxed assets Leasehold renovutions Motor Office Computers vehicles Furnishings equipmeni & softwore Totol Cost Al l April 2025 44.550 123.926 273.897 16.267 462.340 920.980 Additions 5.927 9.985 13.910 Disposols 08.488) (10.5821 {28.870) At 31 March 2024 29.989 123.926 263.515 16.267 472.323 906.020 Deprecitstion At l April 2023 25.961 123.619 265.898 16.267 266.386 698.131 Charge lor the yeor On disposals 5.922 121 3.410 79.277 88.730 04.023) (8.581) 122.604) At 31 Harch 2024 17.860 123.740 260.727 16.267 345,665 764,257 Net book volve At 31 Narch 2024 12.129 186 2.788 126.660 141.763 Ai 31 March 2023 18,589 307 7.999 195.954 222,849 Debtors 2024 2023 Trade debtors 1.486.561 1.136.984 Prepoyments ond occrued Income 550.759 1.924 166 2.057.320 3,061.150 Poge 25
TrSdent Reach The People Charity (A compony limited by guarantee) Notes to the fingnciol stotement5 For the year ended 31 March 2024 12. Creditors.. Amounts folling due within one year 2024 2023 Trode creditors 272.419 331.487 Amounts owed to group undertokings Other taxation ond socitsl security Other creditors 595.150 378.676 174.324 188.770 37.555 71.310 Accruols ond deferred income 320.195 851,651 1,399.641 1.821.894 Dèferred Income 2024 2023 Deferred Income ot 1 April 2023 Resources deferred during the yeor Amounts releosed from previoLJS periods 405.518 246.319 18.572 405,S18 (405.518) (246,3191 Deferred income at 31 Mgrch 2024 18.572 405.518 Deferred income comprises omounts Invoiced undei" service conirocts reloring io ¢Jelivery In ihe following year. Poge 26
Trident Reach The People Charity (A company limited by guarontee} Notes to the financial stgtementS For the uear ended 31 Morch 2024 15. Statement of funds statement of funds - current year Balance ot 1 Aprll 2025 Tronsfers Bulonce at 31 in/(out) Morch 2024 Income ExpenditvrÈ Unrestrlcted funds Generol funcjs 2.049.513 16.781.391 (16.639.229) 169.501 2.361.176 Restricted funds Digiiolisation progromme- Birmifjghom Digitolisc>lion progromme- Shropshire 31.807 {15.939) 15.868 4.950 (4.180) 770 DigiioIIsoiion progromme- Dudley 8.960 (8,960) Deelon05 9.992 (661) 9.351 Housing Firsr Lodywood Initiative Personolisotion 218.668 {2M.581) 25.913 19.065 09.063) 138.166 138.166 Respite l'ooms SWEP 357,832 (162.418) 095.414) 14.629 04.629) 391.524 412.543 (470.451) (169.501) 164.135 Totol of funds 2.441.037 17.195.934 07.109.660) 2.525.311 Purpose of restricted fvnds Housing First - Support ond accommodotion for people with svbsionce obuse Ladywood Initiotive - Community projects. Respite Rooms - Support & occommodotion for people experiencing domestic abuse. SWEP - Severe weother emergency occommodcjtion ond support. Poge 27
Trident Reach Thè People Chorlty (A company limited by gvarantee) N¢tes to the finaneiol statements For thè year Ènded 31 Murch 2024 13. Statement of funds (contlnued) Statement of funds - prior year Balance at 31 March 2023 Balance at l April 2022 Tronsfers in/lout) Ineome Expendiiure Unrestricted funds Generol fvrnds 1.819.062 16.065,122 116.358.836) 524.165 2,049.513 Restritted funds Big Lotiery - Skills Hub Children in Need 76.238 (76.238) 78.342 178.342) Derbyshire - DLCG Night Ouireoch New Horizon 99.755 199.755) {51.461) 51461 6,858 (66 013> {281.32 S9155 Housing First Lodywood Initioiive Respite rooms 3186 450,121 {151.980) 19.063 19.063 514.112 (156,280) {37.213) 357832 SWEP 14.629 37.213 14.629 WMCA 67.143 (67.145) Other restricted funds 148 709 048 709) 565.384 944,253 (540.8331 1577.260) 391.524 Total of funds 2,384.446 17.009.355 {16.899.669) (53.095) 2.441.037 Poge 28
Trident Reoch The People Churity (A company limited by guorontèe) Note5 to the flnanciol stotement5 For the yèar ended 51 March 2024 13. St(rtement of funds (continued) Purpose of restricted funds Big Lottery Skills Hub - Facilitating occess io Employment. Educotion and Troining Opportunities io Homeless Adulis. Children in Need. Derbyshire DLCG & New Hor120n - Domestic Violence. Night Outreoch Outreoch for rough sleepers Housing First. Lodywood Initiotive. Re5Plte Rooms & SWEP - See curreiit yeor. WMCA Night support for people with complex needs. Ovtreoch for rough sleepers and support oncl occommodation lor people with no recourse to public funding 14. Analysis of nèt assets betweèn funds Analysis of net Qsset5 betwèen funds - cvrrent period Unrestrlrted funds 2024 Restricted funds 2024 Total fvnds 2024 Ton9ible fixed 055et5 Current ossets 141.763 141,763 3,619.054 164.135 3.783.189 Creditors due wi1hin oiie yeor {1,399.641) (1.399.641) Total 2,361,176 164 135 2.525.311 Anolysls of net assets between funds- prlor perlod Unrestrirted funds 2023 Restrlcted funds 2023 Total fvnds 2023 Tongible fixed ussets Current ossets 222.849 222,849 3.648.558 391.524 4.040,OB2 Creditors due within one yeor (1.821.894) (1.821,894) Total 2.049.513 391.524 2,441,037 Poge 29
Trident Reoch The People Chorlty (A company limlted by guarantee) Notes to the finonclol stotements For the yeor ended 37 March 2024 15. Reconciliotion of nèt movèment in funds to nèt cosh flow from operating ottivlties 2024 2025 Net income for the period (os per Stotement of Finonciol Acrivities) 84,274 56.591 Adjustmènts for.. Depreciotion chorges Loss on the sole of fixed ossets 88.632 178.814 6.354 8.595 Decrease/{increose) in debiors {Decreose)/increose In creditors Bonk 1nteres1 received 1.008.287 (1,758.071) (406.700) 431.521 (13.659) Net cash provided by/(used In) operating artivittes 767.188 (1.082.550) 16. Anolysis of cosh ond cash equivolents 2024 2023 Cosh ot bonk and In hond 1.745.869 978.952 Totol cash and ctssh èqulvolents 1.745.869 978.932 17. Anolysls of chonges in net debt At 1 April 2023 At 31 March 2024 Cash flows Cosh at bank ond In hond 978.932 766.937 1.745.869 Poge 30
Trident Reach The Pèople Charlty (A compony limited by gvorantee) Notes to the finoncial statements For the year ended 51 Morch 2024 18. Pension commitment5 The chority opefotes defined contribution pension plan5 lor its employees. The osseis ol the schemes ore held separotely from those of ;he chority In an Independently odministered fund. The amount recognised as on expense In the period wos £249.80512025. £215.020). Conlribulions totolling £44 41712025". £36,504) were poyoble to the schemes ot the bolonce sheet dote ond ore ip,cluded In creditors.. 19. Operating lease tommitments At 31 Morch 2024 the Charity hod commitments to moke fulure min.imum leose payments under non- cancelloble operoting leoses as follows. 2024 2023 No; loter th(Jn 1 yeor Later thon 1 yeor ond not later thon 5 years Loter ihan 5 yeors 166.601 152,663 454,68 482.395 23.486 25.993 644.775 661.049 20. Related party transactlons There ore no reloteol porty transoctions orher thon those wilh other componies within *he Trideni Group. Rechargès Trident Reach ihe People Charity to Trident Housing Associoiion Limited. 2024 2023 Intra-group trunsoction Allocotion bosls Employment costs of siofl at housing schemes Payroll cosis ol scheme stoff 349 000 349 000 465 234 465 234 Poge 31
Trident Reoch The People Charity (A compony limStèd by guorantee) Notes to the finunclal statements For the year ended 31 March 2024 Recharges (continued) Trident Housing Associotion to Tndent Reach the People Charity. 2024 2023 Intro-group trons¢Jrtion Allocation basis Rechorge of rent on core homes Oepreciation of assets Rent ogregment % depreciotion costs 195 781 195,781 103,791 75,000 Emploumeni costs of Executive ond Centrol Services % poyroll costs Direct cost ollocotion 611569 529.855 Office overheods 2,834 113.068 Vehicle costs Direct C05t ollocotion 838 43 432 ICT Systems Audit and Insuronce brokeroge Stolf numbers 615.770 613.000 Direct cost ollocotion 1570 879 1632 136 At the bolonce sheet dote. £595.150 wos owin9 from the chority to Trident Housing Associotion Limited 12023". £378.676). The bolonce is Unsecured. interest free. hos no fixed date of repoyment tsnd Is repoyoble on demond. 21. Controlling porty At 31 Morch 2024 the immediote und uitimote porent undertoking is Trident Housing Associotion Limited. o Reglstered Sociol Londlo.d with choritoble objectives incorporoted under the Co-operative and Comrr,unity Benefit Societies Act 2014 ond on exempt charity Copies of ihe Iinonciol stoiements for Trident Housing Associotion Limited con be obtained from its regisiered office. 12 Foirlie House. Trident Close. Erding'.on, Birmlnghom. B25 5TB. 22. Amounts held as custodian trvstee At 31 March 2024. the choirty held funds of £134.318 (2023". £333.2881 on beholl of clients OS Custodian trustee. This omounts ore held in sepuroie bonk occounts ond ctre not Included in the Chority's bolonce sheet. Poge 32