REGISTERED COMPANY NUMBER: 06874789 (England and Wales) REGISTERED CHARITY NUMBER: 1129588 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 Bosco Society Ltd SB&P Chartered Accountants & Statutory Auditors Oriel House 2-8 Oriel Road Bootle Liverpool Merseyside L20 7EP
Bogco Society Ltd Contents of the Financlal Statements for the Year Ended 31 March 2024 Page Report of the Trustees Report of the Independent Auditors statement of Financial Activities Balance Sheet Cash Flow Statement 10 Notes to the Cash Flow Statement Notes to the Flnancial Statements 12 to 18
Bosco Society Ltd (Registered number: 06874789) Report of the Trustees for the Year Ended 31 March 2024 The trustees who are also dlre¢tors of the charity for the purposes of the Companies Act 2006, present Ihelr report with the financial statements of the charlty for the year ended 31 March 2024. The trustees have adopted the provlslons of Accounting and Reportlng by Charitses: Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with th6 Flnancial Reporting Standard applicable in the UK and Républic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and alms The objecls of Bosco Soclety Limited Is to provlde soclal houslng Indudlng, temporary supported provislon to the homeless. In particular, but not restricted to those recovering from drug addiction. alcoholism and mental haalth Issues. The overall aim Is to help Individuals move towards permanent independent living. Bosco Soclety Llmlted aims to a¢hieve its objectives through the provlsion of 12 self-contalned flats In the local communlty. We also manage a house where three resldents can be accommodated with Floallng Support In place. A further 29 bedspaces are avallable at our 24-hour hostels. In addition to the support provlded in our social housing provlslon and lo our hostel resldents. we also provide FloatinglOutr6ach support to refugee families who have been accommodated and settled in the local community as part of our contract with Sefton Council. All local authoritles are deallng wlth this as part of the UK wlde response to the humanltarian crlsls In Syri8. Alm8'. To provlde good quallty, affordable accommodallon To provlde a safe home where everyone can feel welcomed. valued and respected. To deliver structure and stablllty for our clients In order for them to relntegrate into so¢lety. To provide quality support aim8d at empowerlng resident8 to make choices in all aspects of th81r Ilves. To enable cllenls lo take control of Ihelr lives by exercislng Ihelr rlghls and responsibilities. To work In partnershlp with cllenls and olher providers In building thelr ski118 to Itve independently. To provide educallonal. lelsure, traSning and vocallonal opportunlties for all our clients. To support all our dlents in managing their Issues with mental health, alcoholism and substance mlsuse. To as815t cllents to manage their finance8 appropriat81y. Values: We embrace Equallty and Dlversity and actlvely promote equallty of opportunÉty for all clientB Irrespective of race, religlon, sexuality, ethniclty or soclal background. Bosco Sodety Limlted is committed to worklng in an anti-oppresslve and anti4lscrlmlnatory manner for all Its cllents. We are commltted to challenglng discrlmlnalion, racism, oppression and Soclal Injustice. Bosco Soclety Llmlted is commltled to servlce-user Involvement in all aspects of service d611very. Publlc benefit In setting our oblectlves and plannlng our actlvltles the trustees have given careful conslderation to the Charlty Commission's guidance on publlc benefit. Page 1
Bosco Society Ltd (Registered number: 06874789) Report of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charftable activities There are 12 flals located In the wider local community, wilh 96 % occupancy during 2023-24. We also manage a three-bedroomed shared house In Seaforth, with 100 % occupancy. The tenants here are supported by an Outreach worker. We also have a three-bedroomed house in Bootle whlch Is used for a family who part of the Syrian resettlement programme. We have 14 rooms at Bosco House and 15 rooms at Bosco Lodg6, both based In Bootle, Liverpool. Individuals resldlng at the hostels may move Into one of the flat8 when they fe61 they are ready. The Emergency Room seprflce Is available for rough sleepers at both facllltles every nlght of th8 y8ar. We now have three "pods" with private facilitles at the House and I0 further at Bosco Lodge. Referrals are made by Sefton Councll Housing Options Team or the Emergency Duty Team on-call. Personal support Is provlded on an indlvidual basls wlth practlcal issues such as budgetlng, paylng rent, settlng up utllity accounts, finding employment and other aspects of managing an Independent Ilfe. We also work In partner8hlp with many statutory, voluntary and community organisallons to provide clients with a range of educational opportunities and recreational actlvlties to enhance thelr life skills. Again, this was adversely affected by the coronavirus pandemlc from March 2020. Durlng the year to 31 March 2024, we provlded flats for 10 indlvldua15, rooms for 10 Indlvlduals at Bosco House and 27 Indivlduals at Bosco Lodge. 7 Individuals moved from Ihe temporary supported accommodation at B05co House and Bosco Lodge to Ilat6 In the local community. Thls is when thelrjoumey to Independent Ilving begins. 88 indlvlduals used the Emergency room service over the year. Our hostel8 are located at: Bosco House, s81 Merton Road, Bootle, Merseyslde L20 7AP Bosco Lodge, 153 Stanley Road, Bootle, Merseyside L20 3QG FINANCIAL REVIEW Financial position The charity Is reportlng a surplus of £94,063 for the year to 31 March 2024 (2023.. £115,864). The addttlon to general reserves strengthens the charity's financial position, ensuring slabillty for growth and development. As at 31 March 2024 tolal general funds of £1,643,916 (2023: £1,549,853) Whe held, The charlty holds no re8tricted fvnds. Re8errfes pollcy The truslees have consldered the need to maintaln an approprlate level of free reserves for the charity. The reseNes policy has been developed at best to retaln at least 3 months runnlng cost5. Excluding funcllonallcapital assets of £1.141,503. the charity has access to "free" reseNes of £502,413,. This amount meets the requirement of the reseNes policy and all¢)ws adequate ftexibility of worklng capital should there be a delay in cash In-flows compared to cash out-flows. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document The Charity is controlled by its governlng document, a deod of tru8t, and constitutes a limiled company, Ilmlted by guarantee, as defined by the Cornpanies Act 2006. Recruitment and appointment of new trustees As set out in the Artl¢les of Assoclatlon the trustees are elected by members of the Charitable company attendlng the Annual General Meeting. The longest serving thlrd of the trustees r8tlre each year and are able to offer themselves for re-election. Page 2
Bosco Society Ltd (Reglstsred number: 06874789) Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The board of trustees consists of at least 3 but not more than 8 members. The board nonnally meets monthly. A Chief Executive is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations the Chief Executive has delegated authority. within the temis of delegation approved by the trustees. for operational matters including finance, ernployment, and SeiCe dellvery activity. Induction and training of new trustees New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law" the Charity Commission guidan on public benefit: the content of the Memorandum & Articles of Association: the committee & decision Mang process,. and the business plan & financial perfomiance of the charity. During the indudion process they meet key employees and other trustees. Trustees are encouraged to attend appropriate extemal training events where these will faolitate the undertaking of their role. Related parties Under the charities Memorandum and Articles of Association twsteo5 may be engaged by the remaining trustees to provide goods or services lo Ihe charity provided the goods or ServIS are actually required by the charity, the nature and level of benefft is no more than reasonable in relation to the value of the goods and services. No more than on8 third of trustees may have an interest in such a contract in any financial year. The trustee concerned does not form part of the quorum for that section of the trustees meeting in which th8 contract is discussed andlor agreed, and must be absent from the room and have no vote in the matter. All such related party transactions in the year are disclosed in the financial statements. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06874789 (England and Wales) Registered Charity number 1129588 Registered office 59-61 Merton Road Bootle Merseyside L20 7AP Trustees J M De La Cruz Rodriguez T A Lees (resigned 17.5.23) Mrs M Doyle Mrs B Whttrow (appoint6d 4.9.23) N G Davies (appointed 4.9.23) Company Secretary Ms L Boylan Auditors SB&P Chartered Accountants & Statutory Auditors Oriel House 2-8 Oriel Road Bootle verpool Merseyside L20 7EP STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Bosco Society Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law end Unlted Kingdom Accounting Standard5 (United Kingdom Generally Accepted A¢wunting Practice). Page 3
Bosco Soclety Ltd (Registered numbèr: 06874789) Report of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each financial year which give a true and falr view of the state of affairs of Ihe charitable company and of the incotning resources and application of reSoUs. Including the income and expenditure, of the charitable company for that period. In preparing Ihose financial statements. the trustees are required to select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP: make judgements and estimates ttjat are reasonable and prudent: prepare the financial statements on the going cOnM basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that infomiation. Approved by he board oftrustees on ................... ....... and signed on its behalf by.. JMDeLa guez- Trustee Page 4
Report of the Independent Audltors to the Members of Bosco Society Ltd Opinion We have audited the financial statements of Bosco Society Ltd (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of signtficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordan with United Kingdom Generally ACpted Accounting Practi. and have been prepared in accordance with the requirements of the Cornpanies Act 2006. Basis for opinion We conducted our audit in accordan with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibiltbes for the audit of the rinancial statements section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical standard. and we have futfilled our other elhical responsibilities in accordance with these requirements. We believe that the audtt eviden we have obtained is sufficient and appropriate to provide a basi5 for our opinion. Conclusions relating to going concern In auditing the financial 8talements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of Ihe financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relatlng to events or conditions that. indwidually or Colleclively, may cast significant doubt on the charttable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibiltlies of the trustees with respect to going concern are described in Ihe relevant sections of this report. other informatlon The trustees are responsible for the other information. The other informalion comprlses the information included in the Annual Report, other than the financlal stslements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other Infomiatlon and, except to the extent otheise expllcltly stated in our report. we do not express any form of assuran conclusion thereon. In connection wtth our audit of the financlal statements, our responsibilEty Is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mlsstated. If we identify such material inconslstencies or apparent malerial misstatements, we are required to determine whether this gives rise to a material misslalement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofthe audit.. the information gtven in the Report of the Trustees for the financial year for which the financial statements a prepared is consistent with the financial slatements-, and the Report of the Trustees has been prepared in accordance wtth applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified rnaterial misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you rf. in our opinion: adequale accounting records have not been kept or returns adequate for our audit have not been recelved from branches not visited by us., or the financial statements are not in agreernent wtth the accounting record5 and returns. or certain disclosures of trustees. remuneration specified by law are nol made: or we have not received all the information and explanations we require for our audit- or the trustees were not entttled to take advantage of the small companies exemption from the requirement to prepare a Stralegic Report or in preparing th8 Report of the Trustees. Page 5
Report of the Independent Auditors to the Members of Bosco Society Ltd Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities. the trustees (who are also Ihe directors of Ihe charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whelher due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disdosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless Ihe trustees either intend to liquidate Ihe charttable cornpany or to cease operations. or have no realistic altemative but io do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that indude5 our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Irregularltles, including fraud, are Instsn$ of non-compliance wlth laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities, induding fraud Is detailed below: The objectives of our audit are to identify and assess the risks of material misstatement of tho financial ststements due to fraud or eOr. to obtaln sufficient appropriate audit evldence regarding the assessed risks of materlal misstatement due to fraud or error. and to r6spond appropriately to those risks. Owing to the inherent limitatlons of an audit. there is an unavoldable risk that material misslatements in the financial statements may not be detected. even though the audit is properly planned and performéd In accordance with the ISA5 (UK). In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our prOdreS included the following: We obtained an understandln9 of the legal and regulatory frameworks applicable to the charitable company, and the sector in which it operates. We determined that the followlng laws and regulations were most significant: the Companies Act 2006. Charity Act 2011. UK employment laws, UK health and safety regulations and Housing Act 2004.. We obtained an understanding of how the charity is complying wlth those legal and regulatory frameworks by making enquiries of managernent, reviewing the board meeting minutes. reviewing the charity's accldent book, reviewing the schedule of any ongoing and potential claims against the charity. We assessed the susceptibility of the charity's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audil engagement team included: identifying the controls that management has in place to prevent and detect fraud., challenging assumptions and judgements made by management in its significant accounting estimates- auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business., assessing the extent of Complian with the relevant laws and regulations. A further description of our responsibililies for the audit of the financial statements is located on the Financial Reporting Council's website at .frc.0rg.Uklaudlt0rsreSponSlb]lItle5. This description fomis part of our Report of the Independent Audttors. Page 6
Report of the Independent Auditors to the Members of Bosco Soclety Ltd Use of our report This report is made solely to the charitable company's members, as a body, In accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable companvs members those matter5 we are required to stste to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assutne responsibility to anyone other than the charitable company and the charitable CoMpanS members as a body, for our audit work, for this report, or for the opinions we have formed. Suzanne Draper FCCA ACA (Senior Statutory Auditor) for and on behalf of SB&P .Chartered Accountants & Statutory Auditors Oriel House 2-8 Oriel Road Bootle Liverpool Merseyside L20 7EP Date: .......... ! | .10.. l.L Page 7
Bosco Soclety Ltd Statement of Financlal Activities for the Year Ended 31 PJIarch 2024 31.3.24 Total funds 31.3.23 Total fvnds Unrestrlcted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2,037 2,037 1,385 Charitable activities Independenl living for supported recovery 1,030,790 1,030,790 980.024 Investment income Other income 4.418 4418 677 21,621 Total 1.037.245 1.037,245 1,003,707 EXPENDITURE ON Charitable activities Independent Irving for supported rewvery 943,182 943,182 887,843 NET INCOME 94,063 94,063 115,864 RECONCILIATION OF FUNDS Total funds brought foNard 1,549,853 1,549,853 1,433,989 TOTAL FUNI)S CARRIED FORWARD 1,643,916 1,643,916 1,549,853 The notes form part of these financial statements Page 8
Bosco Society Ltd (Reglstered number: 06874789) Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestrled funds Restricted funds Notes FIXED ASSETS Tangible assets 10 1,141.503 1.141,503 1,121.917 CURRENT ASSErs Debtors Cash at bank and in hand 35,239 853,221 35,239 853,221 24.679 804.423 888,460 888,460 829.102 CREDITORS Amounts falling due within one year 12 (290,553) (290,553) (294.001) NET CURRENT ASss 597,907 597,907 535,101 TOTAL ASSEfs LESS CURRENT LIABIUTIES 1,739,410 1,739,410 1,857.018 CREDITORS Amounts falling due after more than one year 13 (95,494) (95,494) (107,165) NET ASSETS 1,eA3,916 1,643,916 1,549,853 FUNDS Unrestricted funds 17 1,643,916 1.549.853 TOTAL FUNDS 1,643.916 1.549,853 These financial statements have been prepared in accordan with the provlslons applicable to charitable companlas subject to the Small companies regime. fina tatements were approved by the Board of Trustees and authorfsed for issue and were slgned on its behalf by.. on JMDe odriguez - Trustee The notes fomi part of these financial statements Page 9
Bosco Soclety Ltd Cash Flow Ststement for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operatlng activities Cash generated from operations Irrterest paid 98,690 (4,363) 366,295 (4.560) Net cash provided by operating activities 94.327 361.735 Cash flows from investing activities Purchase of tangible fixed assets Interest received (40,1121 4,418 (1.696) 677 Net cash used in investing aclivities (35,694) (1.019) Cash flows from flnancing activitles Loan repayments in year (9,835) (8,979) Net cash used in finandng actlvities (9,835) {8,979) Change in cash and cash equlvalents in the reporting perfod Cash and cash equlvalents at the beglnning of the reporting period 48,798 351,737 804,423 452,686 Cash and cash equivalents at the end of the reporting period 853,221 804,423 The notes form part of these financlal statements Page 10
Bosco Society Ltd Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Increase in debtors (Decrease)fincrease in creditors 94.063 115,864 13,171 7.354 (4.418) 4,363 {10,560) (5,283) 14,436 1,751 (677) 4,560 {12,018) 242,379 Net cash provlded by operations 98.690 366.295 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and In hand 804,423 48,798 853,221 804,423 48,798 853,221 Debt Debts falling due within 1 year Debts falling due after 1 year (9,336 1107,165) (369) 11,671 (9.705) (95,494) (116.501} 11,302 (105.199) Total 687,922 60,100 748,022 The notss form part of th888 financlal statements Page 11
Bosco Society Ltd Notes to the Flnancial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparing the financlal statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing Iheir accounts in accordan with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective 1 January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Changes in accounting policies Freehold property, previously recognised at historical cost will be recognised at market value following a full formal valuation. The trustees considered a market valuation represented a far more reliable and relevant valuation basis. Income All income is recognised in the Statement of Financial Activities once the charily has entitlement to the fvnd5, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognlsed as expenditure as soon as there is a legal or wnstruclive obligation commltting the tharity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligatlon can be measured rellably. Expenditure is accounted for on an accruals basis and has been dasslfied under headings that aggregate all Cost related to the category. Where costs cannot be directly attribuled to particular headings they have been allocated to actlvitles on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over Its estimated useful life. Ftxtures and fittings Computer equipment 20V/o on reducing balan 200fi on reducing balance Fixed Assets Recognised at hlstoric cost and depreciated over their expected useful life. Freehold propèrties Followlng a change in accounting policy, freehold properties will now be recognised at market value. Depreciation will be charged where it is considered market value falls below estimated residual value. Revaluation reviews will be carried out with sufficient regularity to ensure the carying value and residual values remain valid and correctly stated. Taxation The charily is exempt from corporation tsx on ils charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by Ihe donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is inGluded in the notes to the financial statements. Hire purchase and leaslng commitments Rentals paid under operating leases are charged to the Statement of Financial Activltles on a straight line basis over the period of the lease. Page 12 contlnued...
Bosco Society Ltd Notes to the Financial Statemerrts - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Penslon costs and other post-retirement benefits The charttable company operates a defined conlribution pension scheme. Contributions payable to the charitable companys pension scheme are charged to the Statement of Financial Actrvities in the period to which they relate. DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations Grants 387 1.650 1,385 2,037 1,385 Grants received. induded in the above. are as follows: 31.3.24 31.3.23 Awarded by Sefton CVS for Bosoc to do some drug use research 1,650 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 4,418 677 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activrty Independent living for supported recovery Independent living for supported re¢overy Independent living for supported recovery Rents CeIVable Houslng support Syrian resettlement Rough sleeper & crash bed income LA reimbursement of Syrian propety refijrbishment 742,675 246,389 9,086 864.077 251.862 27,000 Independent Ilving for supported recovery 32.640 23.380 Independent living for supported recovery 13,705 1.030.790 980,024 Grants reived, induded in the above. are as follows.. 31.3.24 31.3.23 Page 13 continued...
Bosco Society Ltd Notes to the Financial Statsments - contlnued for the Year Ended 31 March 2024 CHARITABLE ACTIVITIES COSTS Direct Costs Independent living for supported recovery 943,182 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated afler chargingl(crediting)'. 31.3.24 31.3.23 Depreciation - owned assets Hire of plant and machinery Other operating leases Deficit on disposal of fixed assets 13,172 3,199 97,150 7,354 14,438 3,488 96,562 1,751 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustses, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salarles Social security costs Other pension costs 567,039 44,719 9,398 526,603 42,486 8.289 621,156 577,378 The average monthly number of employees during the year was as follows: 31.3.24 24 31.3.23 23 Charitable activity staff No employees received emoluments in eXsS of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 1.385 1,385 Charitable activities Independent liwng for supported recovery 980,024 980.024 Investment income Other income 677 21.621 677 21,621 Total 1.003.707 1,003,707 Page 14 continued...
Bosco Society Ltd Notes to the Flnancial Statements - contlnued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds Restricted funds Total funds EXPENDITURE ON Charitable activities Independent living for supported recovery 887,843 887.843 NET INCOME 115.864 115.864 RECONCILIATION OF FUNDS Total funds brought forward 1,433.989 1.433.989 TOTAL FUNDS CARRIED FORWARD 1.549,853 1,549,853 10. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Computer equlpment Totals COST OR VALUATION At 1 April 2023 Additions Disposals 1,065.918 104,993 40,112 {28,478) 9,368 1,180,279 40,112 (28,478) At 31 March 2024 1,065,918 116,627 9,368 1,191,913 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 52.366 12,498 (21,1241 5,996 674 58,362 13,172 {21,124) At 31 March 2024 43,740 6,670 50,410 NET BOOK VALUE At 31 March 2024 1,065,918 72,887 2,698 1,141,503 At 31 March 2023 1,065.918 52,627 3,372 1.121,917 Cost or valuation at 31 March 2024 is represented by: Fixtures and fittings Freehold property Computer equipment Totals Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 1,084,967 {19,049) 1,084,967 100,296 (4,984) 11,634 109.977 (4.984) 11.634 9,368 1,065,918 116.627 9,368 1,191,913 Page 15 Continued...
Bosco Society Ltd Notes to the Financlal Ststements - continued for the Year Ended 31 Mar¢h 2024 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Rent debtors Other debtors Prepayments and accrued income 30.909 19,806 1,402 3.471 4,330 35.239 24,679 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Bank loans and overdrafts (see note 14) Trade creditors Social security and other taxes Pension Other creditors Housing benefit overpayment Accruals and deferred income 9,705 476 10,937 1,711 193.490 6.598 67,636 9,336 2,785 11,238 1,645 195,400 73,597 290,553 294,001 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Bank loans (see note 14) 95,494 107,165 14. LOANS An analysis of the maturlty of loans is given below.. 31.3.24 31.3.23 Amounts falling due within one year on demand.. Bank loans 9.705 9,336 Amounts falllng between one and two years: Bank loans- 1-2 years 10,090 9,705 Amounts falling due between two and fNe years: Bank loans- 2-5 years 32.730 31,483 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 52.674 65.977 Page 16 continued...
Bosco Soclety Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2024 15. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 31.3.24 31.3.23 Within one year Between one and five years 78,000 91.000 78.000 169.000 169,000 247.000 16. SECURED DEBTS The following secured debts are included within creditors.. 31.3.24 31.3.23 Bank loans 105,199 116.501 The bank loan Is secured by a fixed charge over th8 property known as 59161 Merton Road. 17. MOVEPJIENT IN FUNDS Net movement in fvnds At 31.3.24 At 1.4.23 Unrestricted funds G&neral fund 1,549,853 94,063 1,643,916 TOTAL FUNDS 1.549,853 94,063 1,643,916 Net movement in funds, includad In the above are as follows: Incoming resources Resourcés expended Movement in funds Unrestricted funds General fund 1,037,245 {943.182) 94.063 TOTAL FUNDS 1,037,245 {943,182) 94,063 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,433,989 115,864 1.549,853 TOTAL FUNDS 1,433,989 115,864 1.549,853 Page 17 continued...
Bosco Society Ltd Notes to the Flnancial Statsments - continued for the Year Ended 31 March 2024 17. MOVEMENT IN FUNDS - continued Comparattve net movement in funds, Inc]uded in the above are as follows: Incoming resour Resources expended Movement in fvnds Unrestricted funds General fund 1.003,707 (887.843) 115.864 TOTAL FUNDS 1,003,707 (887,843) 115,864 18. RELATED PARTY DISCLOSURES There were no related paty transaclions for the year ended 31 March 2024. Page 18