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2024-05-31-accounts

Hope Housing (Bradford) LTD

Charity number 1132349

A company limited by guarantee number 06911577

Annual Report and Financial Statements

for the year ended 30 May 2024

Hope Housing (Bradford) LTD

Annual Report and Financial Statements for the year ended 30 May 2024

Contents Page
Trustees' report 2 to 5
Examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cashflows 9
Notes to the accounts 10 to 17

Prepared by West Yorkshire Community Accountancy Service CIO

1

Hope Housing (Bradford) LTD

Trustees' report for the year ended 30 May 2024

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Position Dates Lara Oyedele Chair James Clayton Secretary Resigned 16 January 2024 Priya Patel Nadine Osuji Sarah Walters Resigned 17 January 2024 Yvonne Falowo Noel Kershaw

Appointed 17 January 2024 Resigned 12 November 2024

Charity number Company number

1132349 06911577

Registered in England and Wales Registered in England and Wales

Registered and principal address

Bankers

Millside House The Co-operative bank 131 Grattan Road 6 Tyrrel Street Bradford Bradford BD1 2HS BD1 1RJ

Independent examiner

Simon Bostrom FCIE West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a company limited by guarantee and was formed on 20 May 2009. It is governed by a memorandum and articles of association as amended by special resolution on 18 October 2010 and further amended on 21 January 2018 and 5 March 2021. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.

Method of recruitment and appointment of trustees

The members of the charity may by ordinary resolution appoint a person who is willing to act as a trustee. Appointments to the board must always be made such that a majority of members will hold a Christian faith.

2

Hope Housing (Bradford) LTD

Trustees' report (continued) for the year ended 30 May 2024

Objectives and activities

The charity's objects

To reduce homelessness in such ways as maybe thought fit within the context of Christian values and practice, based on the biblical mandate to love our neighbour as ourselves;

To support, advise and accommodate the homeless and inadequately housed in partnership with local churches and other organisations and individuals as the trustees from time to time may think fit;

To fulfil other purposes which are exclusively charitable according to the law of England and Wales that are connected with the charitable work of the charity;

The charity's main activities

Our work with people experiencing homelessness in Bradford has continued to comprise a range of activities as follows:

Providing advice, support and advocacy for people experiencing, or at risk of experiencing, homelessness including those who are destitute (having no recourse to benefits and other public funds).

Providing supported accommodation for those who are homeless through our supported tenancies in our properties across Bradford and also through our hosting scheme.

Providing recovery focussed support for those clients who are homeless and also experiencing substance misuse and mental and physical health problems.

Developing and working with a wide range of partnerships with statutory and voluntary services and churches to support our clients.

Providing opportunities and training for volunteers to enable them to contribute to support of our clients.

We continue to receive referrals from hostels, police, Bradford day shelter providers, drug and alcohol services, outreach and probation workers. We believe it is a great privilege to help people experiencing homelessness by providing hope where they often feel there is no hope. We are extremely well respected across the Bradford District and have an excellent track record of effective delivery and partnership working.

Public benefit statement

In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit published by the Charity Commission.

Achievements and performance

We achieved the following numbers during the period of 1 June 2023 and 31 May 2024

2,166 two-hour client support sessions

390 food parcels given out

291 appointments we accompanied clients to. Majority of these being medical, legal or recovery appointments. 134 people attended events including a trip to Ilkley Lido, 10 pin bowling and our Christmas party.

132 external referrals (including 15 clients to Bradford Council, 8 to medical services, 7 to faith services 4 to rehabilitation locations, 3 to First Response, 2 to Mental Health services and 2 to Christians Against Poverty (CAP))

56 clients joined our services

51 clients were with us at the end of this period

48 is the number of properties we ended the year with

37 is the number of properties we started the period with

35 clients moved on to other accommodation

27 Trussel Trust food bank vouchers given out

11 properties were added to our portfolio

7 attended Client Focus groups

1 Stakeholder conference on 1st May 2024 at Fountains Church in Bradford city centre. This event was attended by over 70 people including 62 of our stakeholders. There were presentations from staff members, clients, trustees, our founder Helen Syrop. The event also featured transformation video about 3 of our clients and roundtable discussions about the causes of homelessness in Bradford.

Zero deaths

3

Hope Housing (Bradford) LTD

Trustees' report (continued) for the year ended 30 May 2024

Plans for the future

Millside House

We expect to complete the purchase and take ownership on 31 March 2025. We are ambitious and hopeful that this will create a significant additional revenue stream for Hope Housing. It will also provide space to grow, expand our reach in Bradford, and offer more services to our clients and the wider community.

We aim to maximise the use of the café and kitchen, generating income from the building to extend our housing, support, and outreach services. We are also in discussions with the Council for them to use the building as a regular venue for their training courses.

Leadership Transition

Following the departure of Phil Marshal in December 2024, we are recruiting a new CEO. We anticipate having the new CEO in place by summer 2025. In the meantime, the Chair of Trustees has stepped in as Interim Manager to oversee Hope Housing's operations.

Expanding Housing Provision

We plan to take on additional homes from individual landlords to enable us to provide housing for more people in need. Our goal is a 50% increase in such properties by May 2026.

We will work closely with local groups to ensure housing projects meet community needs. Owning Millside House provides a strong foundation for this kind of expansion.

Strengthening Support Services

We will enhance our financial and employment support services to help residents improve their lives and sustain their tenancies. We aim to provide long-term support for those moving into stable permanent accommodation.

Advocacy and Campaigning

We will advocate for policies that secure more resources for supported housing. We will push for increased funding and support from authorities and funders to improve homelessness services.

Financial review

The net income for the year was £58,042, including net income of £-5,649 on unrestricted funds and net income of £63,691 on restricted funds after transfers.

The principal sources of funding are grants from the local authority and charitable foundations, donations from individuals and rental income and service charges in relation to the properties utilised by the charity for furthering its objects.

Reserves policy

The Trustees have established as a matter of policy that the aim of the charity is to have reserves that represent three months operating costs of the charity. Based on the annual expenditure for the year that would require a reserve of approximately £160,000. However the charity's financial activities will be growing significantly in the current year and this will require a review of the policy.

Total funds held by the charity at the year end were £331,597. After excluding restricted funds of £109,301 and fixed assets of £69,604 this leaves unrestricted free reserves of £152,692.

4

Hope Housing (Bradford) LTD

Trustees' report (continued) for the year ended 30 May 2024

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

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 accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Approved by the board of trustees on 24/03/2025

Lara Oyedele (Trustee)

5

Hope Housing (Bradford) LTD

Independent examiner's report to the trustees of Hope Housing

(Bradford) LTD

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 30 May 2024, which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charitable company's gross income exceeded £250,000 your examiner must be a fellow of a body listed in section 145 of the 2011 Act.

I confirm that I am qualified to undertake the examination because I am a fellow of ACIE which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon Bostrom FCIE

24/03/2025

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

6

Hope Housing (Bradford) LTD

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 30 May 2024

Notes
2024
Unrestricted
funds
£
Income from:
Donations and legacies
(2)
31,924
Charitable activities
(3)
419,682
Other income
17,357
Bank interest
1,579
Total income
470,542
Expenditure on:
Charitable activities
(4)
476,191
Total expenditure
476,191
Net income / (expenditure)
(5,649)
Fund balances brought forward
227,945
Fund balances carried forward
(5)
222,296
2024
Restricted
funds
£
219,271
-
-
-
219,271
155,580
155,580
63,691
45,610
109,301
2024
Total
funds
£
251,195
419,682
17,357
1,579
689,813
631,771
631,771
58,042
273,555
331,597
2023
Total
funds
£
146,660
324,931
7,202
578
479,371
579,914
579,914
(100,543)
374,098
273,555

All incoming resources and resources expended derive from continuing activities.

7

Hope Housing (Bradford) LTD

Balance sheet

as at 30 May 2024
2024
Unrestricted
£
Fixed assets
Tangible assets
(6)
69,604
Total fixed assets
69,604
Current assets
Debtors and prepayments
(7)
54,011
Cash at bank and in hand
(8)
103,954
Total current assets
157,965
Current liabilities:
amounts falling due within one year
Creditors and accruals
(9)
5,273
Total current liabilities
5,273
Net current assets / (liabilities)
152,692
Net assets
222,296
Funds
Unrestricted funds
222,296
Restricted funds
-
Total funds
222,296
2024
Restricted
£
-
-
11,041
98,260
109,301
-
-
109,301
109,301
-
109,301
109,301
2024
Total
£
69,604
69,604
65,052
202,214
267,266
5,273
5,273
261,993
331,597
222,296
109,301
331,597
2023
Total
£
70,567
70,567
33,891
170,615
204,506
1,518
1,518
202,988
273,555
227,945
45,610
273,555

For the year ending 30 May 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who are also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 24/03/2025

Lara Oyedele (Trustee)

8

Hope Housing (Bradford) LTD

Statement of cash flows

for the year ended 1 June 2023

Cash flows from operating activities:
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Interest
Purchase of tangible fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Adjustments for:
Depreciation charges
Dividends and interest from investments
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by (used in) operating activities
Analysis of cash and cash equivalents
Notice deposits (less than 30 days)
Total cash and cash equivalents
Reconciliation of net movement in funds to net cash flow
from operating activities
Net movement in funds for the reporting period (as per the
statement of financial activities)
Cash in hand
2024
£
34,426
1,579
(4,406)
(2,827)
31,599
170,615
202,214
2024
£
58,042
5,369
(1,579)
(31,161)
3,755
34,426
2024
£
-
202,214
202,214
2023
£
(99,774)
578
(1,993)
(1,415)
(101,189)
271,804
170,615
2023
£
(100,543)
4,682
(578)
5,349
(8,684)
(99,774)
2023
£
444
170,171
170,615

9

Notes to the accounts

Hope Housing (Bradford) LTD

for the year ended 30 May 2024

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Donated goods for resale are valued at the amount actually realised upon their sale.

Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Leashold property: over the life of the lease or 50 years, whichever is the shorter. Project and office equipment: over 4 years

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

10

Hope Housing (Bradford) LTD

Notes to the accounts

for the year ended 30 May 2024

1 Accounting policies continued

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Leases

Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.

11

Hope Housing (Bradford) LTD

Notes to the accounts continued

for the year ended 30 May 2024

2 Donations and legacies
ACTS 435
Benefact Trust
BUPA
Deli Fresh
Garfield Weston Foundation
Henry Smith Charity
National Lottery Community Fund (NLCF)
Royal Mail Charity
The Church Urban Fund
York University Grants
Albert Hunt Trust
Bishop Radford Fund
Kickstart
Lloyds Bank Foundation
Margarets Fund
Sir George Martin Trust
Sovereign Healthcare
The Morrisons Foundation
Other donations inc gift aid
3 Charitable activities income
Rent and service charges
2024
Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
31,924
31,924
2024
Unrestricted
funds
£
419,682
419,682
2024
Restricted
funds
£
1,345
11,900
500
25,000
16,500
70,000
31,976
900
18,702
39,496
-
-
-
-
-
-
-
-
2,952
219,271
2024
Restricted
funds
£
-
-
2024
Total
funds
£
1,345
11,900
500
25,000
16,500
70,000
31,976
900
18,702
39,496
-
-
-
-
-
-
-
-
34,876
251,195
2024
Total
funds
£
419,682
419,682
2023
Total
funds
£
2,728
-
-
14,517
10,000
-
-
-
20,808
-
7,000
2,000
2,089
27,250
250
5,000
5,000
23,640
26,378
146,660
2023
Total
funds
£
324,931
324,931

12

Hope Housing (Bradford) LTD

Notes to the accounts continued

for the year ended 30 May 2024

4 Charitable activities expenditure
2024
Unrestricted
funds
£
Salaries NI and pensions
4a
146,296
Staff travel
443
Volunteer expenses
41
Training
4,298
Beneficiaries housing support costs
240,485
Beneficiaries subsistence costs
3,319
Office and administration
5,765
Phone and postage
1,493
Insurance
1,627
Payroll, HR and recruitment
1,666
Legal, professional and consultancy
9,629
Office rent and room hire
7,690
Repairs and renewals
41,794
Independent examination
536
Fundraising costs
430
Trips, events and activities
1,756
Depreciation
5,369
Grants repayable
-
Bad debts
2,248
Advertising and publicity
1,306
476,191
4a
Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions
2024
Restricted
funds
£
125,747
4,201
-
590
4,964
2,152
4,160
493
-
-
4,862
989
-
982
1,031
1,065
-
-
-
4,344
155,580
2024
Total
funds
£
272,043
4,644
41
4,888
245,449
5,471
9,925
1,986
1,627
1,666
14,491
8,679
41,794
1,518
1,461
2,821
5,369
-
2,248
5,650
631,771
2024
£
251,611
20,677
(5,979)
5,734
272,043
2023
Total
funds
£
231,938
4,958
6
1,843
249,335
9,472
5,531
1,570
2,854
1,882
10,808
8,324
24,889
1,518
307
687
4,682
2,409
14,841
2,060
579,914
2023
£
213,705
17,496
(5,140)
5,877
231,938

The average number of employees during the year was 11.6, being an average of 0 full time equivalent (2023: 11.1, 9.4 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme 2024 2023
£ £
Costs of the scheme to the charity for the year 5,734 5,877
Amount of any contributions outstanding at the year end - -
Amount of any contributions prepaid at the year end - -

13

Hope Housing (Bradford) LTD

Notes to the accounts continued

for the year ended 30 May 2024

5 Restricted funds
ACTS 435
Benefact Trust
BMDC Seed Fund
BUPA
Deli Fresh
Garfield Weston
Henry Smith
Donations for IT system
Millside Building Fund
NLCF
Church Urban Fund
Royal Mail Charity
Sir George Martin Trust
York University
Morrisons Foundation
Donations for legal fees
Balance b/f
£
591
-
3,382
-
-
-
-
3,095
4,032
-
5,502
-
4,386
-
23,640
982
45,610
Incoming
£
1,345
11,900
-
500
25,000
16,500
70,000
-
2,952
31,976
18,702
900
-
39,496
-
-
219,271
Outgoing
£
1,693
-
3,382
500
25,000
10,000
28,159
2,262
2,500
21,870
21,549
900
3,902
32,881
-
982
155,580
Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Balance c/f
£
243
11,900
-
-
-
6,500
41,841
833
4,484
10,106
2,655
-
484
6,615
23,640
-
109,301

Fund name

ACTS 435 Benefact Trust BMDC Seed Fund

BUPA Deli Fresh Garfield Weston Henry Smith Donations for IT system Millside Building Fund NLCF Church Urban Fund Royal Mail Charity Sir George Martin Trust York University

Morrisons Foundation

Donations for legal fees

Purpose of restriction

Towards client support costs. Towards core costs for the Millside Centre.

Two Migrant Support Workers and costs associated with destitution and EEA migrant work including property costs for destitute accommodation. Towards day trips and social outings for clients. Towards the charity's core costs. Towards the charity's core costs. Towards the charity's core costs. Donations from Bishop Radford fund and individuals towards IT licences. Donations from various people towards the purchase of the Millside Centre. Towards the Community Connector costs. Towards Positive Pathways Worker costs. Towards furniture purchases for the houses. Towards starter packs and Millside centre costs. Towards the costs of a full-time research post and associated management, admin, materials and equipment. Towards the cost of converting a room at the Millside Community Centre into a temporary accommodation flat. Donations towards the cost of legal fees.

14

Hope Housing (Bradford) LTD

Notes to the accounts continued

for the year ended 30 May 2024

6
7
**8 **
Tangible assets
Cost
At 1 June 2023
Additions
At 30 May 2024
Depreciation
At 1 June 2023
Charge for year
At 30 May 2024
Net book value
At 30 May 2024
At 31 May 2023
Debtors and prepayments
Debtors
Prepayments
Accrued income
Other debtors
Cash at bank and in hand
Cash at bank
Cash in hand
£
69,609
-
69,609
3,630
1,092
4,722
64,887
65,979
Leasehold
property
£
14,361
4,406
18,767
9,773
4,277
14,050
4,717
4,588
2024
£
42,282
8,327
13,843
600
65,052
2024
£
202,214
-
202,214
Project and
office
equipment
Total
£
83,970
4,406
88,376
13,403
5,369
18,772
69,604
70,567
2023
£
32,426
-
-
1,465
33,891
2023
£
170,171
444
170,615

15

Hope Housing (Bradford) LTD

Notes to the accounts continued

for the year ended 30 May 2024

9 Creditors and accruals
Creditors
Accruals
Taxation and social security
2024
£
150
1,518
3,605
5,273
2023
£
-
1,518
-
1,518

10 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Remuneration and benefits received by key management personnel

The total employee benefits received by key management personnel were £72,813 (previous year: £34,274).

11 Operating leases

Within one year
In the second to fifth years inclusive
Over five years from the balance sheet date
Expected future minimum lease payments over the remaining life of the
lease, analysed into the period in which the commitment falls due:
2024
£
198,653
223,301
-
421,953
2023
£
137,224
168,757
-
305,980

16

Hope Housing (Bradford) LTD

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 30 May 2024

2024
2023
Unrestricted Unrestricted
funds
funds
£
£
Income
Donations and legacies
31,924
38,018
Charitable activities
419,682
324,931
Other income
17,357
7,202
Bank interest
1,579
578
Total income
470,542
370,729
Expenditure
Charitable activities
476,191
380,173
Total expenditure
476,191
380,173
Net income / (expenditure)
(5,649)
(9,444)
Fund balances brought forward
227,945
237,389
Fund balances carried forward
222,296
227,945
2024
Restricted
funds
£
219,271
-
-
-
219,271
155,580
155,580
63,691
45,610
109,301
2023
Restricted
funds
£
108,642
-
-
-
108,642
199,741
199,741
(91,099)
136,709
45,610
2024
Total
funds
£
251,195
419,682
17,357
1,579
689,813
631,771
631,771
58,042
273,555
331,597
2023
Total
funds
£
146,660
324,931
7,202
578
479,371
579,914
579,914
(100,543)
374,098
273,555

17