Charfty registratlon number l 139596 (England and Wales) Company registratlon number 07222003 FUTURE HOUSING SOLUTIONS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
FUTURE HOUSING SOLUTIONS LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES Mrj Rowen Mrs P K Sidhu Mrs K Harper CHIEF EXECUTIVE OFFICER D Hennigan CHARITY NUMBER 1139596 COMPANY NUMBER 07222003 REGISTERED OFFICE Suite 8, The Boot Factory 22 Cleveland Road Wolverharnpton West Midlands WV2 1BH INDEPENDENT EXAMINER JW Hinks LLP Chartered Accountants 19 Highfield Road Edgba5ton Birmingham B153BH
FUTURE HOUSING SOLUTIONS CONTENTS PAGE Trustees report Independent examiner's report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 8-15
FUTURE HOUSING SOLUTIONS TRUSTEES REPORT {INCLVDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 APRIL 2024 The trustees present their annual report and financial statements for the year ended 30 April 2024. The accounts have been prepared in accordance with the accounting policie5 Set out in note I to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2019)" OBJECTIVES AND ACTIVITIES The charity's objedives are to support vulnerable individuals and allow them to access housing within a community setting, known as Supported Living" The policies adopted in furtherance of these objects are to continue to work in partnership with a variety of care provider5. There has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Public benefit In Setting our objectives and planning our activities, the trustees have given careful consideration to the Charity Commission's general guidance on public benefit, including fee charging. Future Housing Solutions Limited was established for helping those In need, by reason of disability, and all tenants are assessed and referred by Social SeNices. The Charity operates as a business in that it has no shareholders and all surpluses are used for the furtherance of the Charity's objectives and aims. ACHIEVEMENTS AND PERFORMANCE Last year was a very successful one. We had planned and expected this Success to continue into 2023-2024. 1 am therefore delighted to report that Future Housing Solutions IFHSI has maintained this upward trajectory. During the financial year to 30th April 2024, we added additional clients, taking our total to 61 at that date. We also agreed a realistic rate for our enhanced housing management charges across the majority of the local authorities with whom we now deal. In addition, and to aid the growth, we have added to our existing housing management team by employing another experienced housing support officer. In last year's report, we stated that we had hoped to have reached between 50-55 clients, so to reach 61 is a tremendous achievement. The landscape for supported living continue5 to be positive. FHS is now accepted as an approved provider of supported living accommodation services across both Wolverhampton County Council and Dudley Metropolitan Borough Council. We will look to add other local authorities as the opportunities arise. This will ensure that FHS will continue to grow with the hope that by 30th April 2025 we will be supporting somewhere between 60-70 clients, demonstrating maintained growth year on year Irom the year end April 2022. Whilst growth is important, the quality ot the seNices promded and being delivered is the measure upon which FHS should also be judged. FHS is improving the level of services and support that it can offer to its clients year on year. In 2024 FHS continued to deliver to its clients numerous workshop5 on energy saving tips to help to combat increased energy costs. Furthermore, improved and more detailed reporting of energy payment5 to clients, appointees and to local authoritie5 were introduced, enabling our clienls to budget better for their energy needs. FHS a150 improved and enhanced the reporting functionality on Fix Flow, the 24-hour reporting portal allowing care staff to report property and equipment issues for which FHS is responsible, arising 24 hour5 a day 7 days a week. Housing off icers attended propertie5 both physically and virtually on a more regular basis. carrying out additional training with care staff to ensure that they are fully aware of the support that they need to provide to our clients regarding propety issues, and being made fully aware of what FHS, role and responsibilities are and how best to acce5S them. In conclusion, the current year has been a great success, the team ha5 grown, both in size and capability. Our client group has also grown and the opportunitie5 for Future Hou5in9 Solutions and its client group, whilst remaining challengin9, is very positive.
FUTURE HOUSING SOLUTIONS TRUSTEES REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORn FOR THE YEAR ENDED 30 APRIL 2024 FINANCIAL REVIEW The Statement of Financial Activities for the year ended 30 April 2024 shows incoming resources for the year totalling £754,00612023 £531,212) and resource5 expended totalling £677,52312023 £543,133). Net IncomellExpenditure) for the year ended amounted to £76,48312023 £111,92111. As a result the Charity'5 total funds have increased from £86,214 a5 at 30 April 2023 to £161697 a5 at 30 April 2024. The current level of funding is adequate to support the continuation of the Charity's existing activities. It is the policy of the charity that unrestricted funds which have not been designated for a specthc use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a company limited by guarantee and does not have share capital, the extent of the liability of each member on winding up is limited to £1. The charity is controlled by its governing document, a deed of trust. and constitutes a company limited by guarantee as defined by the Companie5 Act 2006. The trustees, who are a150 the directors for the purpose of company law, and who Seed during the year and up to the date of signature of the financial statements were: MrJROwen Mrs P K Sidhu Mrs K Harper Trustees are recruited as a need arises. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and onsequently guarantee to contribute £1 in the event of a winding up. The charity is a single organi5ation. Consultancy fees and boiler repair costs of £78,420 were paid to ASK THE Q LTD, a company under the control of the Chief Executive of the Charity. DISABLED PERSONS Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
FUTURE HOUSING SOLirfioNS TRUSTEES REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 30 APRIL 2024 EMPLOYEE INVOLVEMENT The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings. matters likely to affect employees. interests. Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. The rust eport was approved by the Board of Trustees. MRJ ROWEN Trustee Dated: 23 January 2025
FUTURE HOUSING SOLUTIONS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUTURE HOUSING SOLUTIONS I report to the charity trustees on my examination of the accounts for the year ended 30 April 2024, which are set out on pages S to 15. RESPONSIBILITIES AND BASIS OF REPORT As the charity trustees of the company land also its directors for the purposès of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your company's accounts a5 carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed Directions given by the Charity Commission under section 1451Sllbl of the 2011 Act. INDEPENDENT EXAMINER'S sfATEMENT As the gross income exceeded £250,000. I confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting record5 were not kept in respect of the company as required by section 386 of the 2006 Ac( or 2. the accounts do not accord with those records., or 3. the accounts do not cornply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or 4. the account5 have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concerns and have come acr055 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. Peter Smith FCC4 ACA JW Hinks LLP Chartered Accountants 19 Highfield Road Edgbaston Birmingham B153BH Dated: 23 January 2025
FUTURE HOUSING SOLUTIONS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 Unrestricted funds Total 2023 Notes INCOME FROM: vi Learning disability housing benefit 754,006 531,212 TOTAL INCOME 754.006 531,212 EXPENDITURE ON: Activities undertaken directly Support costs Governance costs 475,699 199.264 2.560 372,427 168,346 2,360 TOTAL CHARITABLE EXPENDITURE 677,523 543,133 TOTAL RESOVRCES EXPENDED 677.523 543,133 NET INCOMV(EXPENDITURE) FOR THE YEAIV NET MOVEMENT IN FUNDS 76.483 111,9211 Fund balances at 1 May 2023 86.214 98,135 FUND BALANCES AT 30 APRIL 2024 162.697 86,214 The statement of financial activities also complies Wlth the requirements for an income and expenditure account under the Companies Act 2006.
FUTURE HOUSING SOLLrrioNS BALANCE SHEET AS AT 30 APRIL 2024 2024 2023 Note5 FIXED ASSErs Tangible assets 16.453 11,056 CURRENT ASSErs Debtors Cash at bank and in hand 89.370 86,605 92,107 21,824 175.975 113,931 CREDITORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR (29.731) (38,T73} NET CURRENT ASSETS 146.244 75,158 TOTAL AssFfs LESS CURRENT LIABILITIES 162.697 86,214 THE FUNDS OF THE CHARITY Unrestricted fund5 10 162.697 86,214 162.697 86,214 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024. Directors, responsibilities: The member5 have not required the company to obtain an audit of its financial 5tstements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respert to accounting records and the preparation of financial statements. The trustee5 have not required the company to obtain an audit of its financial statements for the year In question in accordan with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subjett to the small companies regirne. The inan atements We approved by the trustees on 23 January 2025 MrJROwen TRUSTEE Company registration number 07222003 (England and Wales)
FUTURE HOUSING SOLUTIONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2024 2024 2023 Notes CASH FLOWS FROM OPERATING ACTIVITIES Cash generated fromllabsorbed by} operations 14 75.382 17,2821 INVESTING ACTIVITIES Purchase of tangible fixed assets (10.601) 15,1111 NEf CASH USED IN INVESTING ACTIVITIES (10.601) (5,1111 NEf CASH GENERATED FROM FINANCING ACTIVITIES NET INCREASV(DECREASE) IN CASH AND CASH EQUIVALENTS 64,781 (12.3931 Cash and cash equivalents at beginning of year 21.824 34,217 CASH AND CASH EQUIVALENTS AT END OF YEAR 86.605 21,824
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 ACCOUNTING POLICIES COMPANY INFORMATION Future Housing Solutions is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 8, The Boot Factory, 22 Cleveland Road, Wolverhampton, West Midlands, WV2 18H. 1.1 ACCOUNTING CONVENTION These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102"), "Accounting and Reporting by Charities. the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are Set out below. 1.2 INCOMING RESOURCES Donation5, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial rneasurement. All incoming resource5 are included in the Statement of Financial Activities when the charity is legally entitled to income and the amount can be quantified with reasonable accuracy. 1.3 RESOURCES EXPENDED Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are Ilocated directly to that activity. Shared cost5 which contribute to more than one activity and 5UPPOrt Costs which are not attributable to a single activity are apportioned between those activities on a basis con515tent with the use of resources. Central staff costs are allocated on the basis of time spen( and depreciation charges are allocated on the portion of the asset's use. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggre9ate all costs related to the category. 1.4 TANGIBLE FIXED ASSETS Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment10sses. Depreciation is recognised so as to write ofl the cost or valuation of assets le55 their residual value5 Qver their useful lives on the following ba5es'. Fixtures, fittings & equipment 20% and 25% on cost The gain or loss arising on the disposal of an asset Is determined a5 the difference between the sale proceeds and the carrying value of the asset, and 15 recogni5ed in the statement of financial activitie5.
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 ACCOUNTING POLICIES (Continued) 1.5 CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.6 TAXATION The Charity is exempt from corporation tax on its charitable activities. 1.7 FUND ACCOUNTING General funds are unrestricted fund which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. CHARITABLE ACTivrriES Learnlng dlspbllltles houslng boneift 2023 Sale5 Wlthin charitable octivities 754,006 531,212 Analysis by fund Unrestricted funds 754.006 FOR THE YEAR ENDED 30 APRIL 2023 Unrestricted fund5 531,212 531,212
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 CHARITABLE ACTIVITIES A<tlvitie5 Support Governance cost C05t Total 2023 undertaken directly Rent paid Heat and Ilght Rates Propety repairs and renewa15 Other property COStS Landlords Support 353.408 1,915 8.820 80.389 31.167 353.408 1.915 8.820 80.389 31.167 286,975 82 6,960 55,267 5,430 17,713 475,699 475,699 372,427 Share of support cost515ee note 4) Share of govemance costs (see note 4) 199.264 199,264 2.560 168,346 2,360 2,560 475.699 199.264 2.560 677.523 543,133 ANALYSIS BY FUND Unrestricted funds 475.699 199.264 2.560 677.523 475,699 199,264 2,560 677,523 FOR THE YEAR ENDED 30 APRIL 2023 Unrestricted funds 372,427 168,346 2,360 543,133 372,427 168,346 2,360 543,133 10
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 SUPPORT COSTS Support costs Governance costs 2024 2023 Staff costs Depreciation Rent Rate5 67.787 5,204 5.099 2.694 5.158 1.468 1.420 590 4,073 1.298 67,787 5,204 5,099 2,694 5,158 1,468 1,420 590 4,073 1,298 47,872 4,246 5,663 1,567 4,524 995 1,373 505 4,530 1,604 Insurance Light and heat Repairs and maintenance Postage and stationery Telephone and fax Travelling expenses Computer running expenses Legal and profe55ional Consultancy fees Sundry expenses Bad Debts Bank charges Independent examination fee 7,784 1.368 78.000 995 7,784 1,368 78,000 995 16,231 95 7,301 270 87,361 524 16.231 95 2,560 2,560 2,360 199.264 2,560 201,824 170,706 Analy5ed betweer+ Charitable activities 199.264 2,560 201,824 170,706 EMPLOYEES The average monthly number of employees during the year was.. 2024 2023 Number Numb•r Management and administration EMPLOYMENT COSTS 2024 2023 Wages and salaries Social security costs 66.688 1.099 49.573 (1,7011 67,787 47,872 11
FUTURE HOUSING SOLUTION5 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 EMPLOYEES (Contlnued) There were no employees whose annual remuneration was more than £60,000. TRUSTEES REUMERATION AND EXPENSES None of the trustees received any remuneration during the year, nor were they paid any expenses. TANGIBLE FIXED ASSETS Flxtures, fittings & •qylpm•nt COST At l May 2023 Additions 41.890 10.601 At 30 April 2024 52.491 DEPRECIATION AND IMPAIRMENT At l May 2023 Depreciation charged in the year 30.834 5.204 At 30 April 2024 36.038 CARRYING AMOUNT At 30 April 2024 16.453 At 30 April 2023 11,056 DEBTORS 2024 2023 AMOUNTS FALLING DUE WITHIN ONE YEAR: Trade debtors Rent dep051t5 Other debtors Prepayrnent5 19.030 9.316 34.692 26,332 1,630 12,266 47,799 30,412 89.370 92,107 12-
FUTURE HOUSING SOLUTIONS N•JfES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other taxation and social security Property damage reserve Trade creditors Accruals and deferred income 1,300 956 2,075 26,834 8,908 23.090 5,341 29,731 38,773 10 UNRESTRICTED FUND5 The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donor5 and grantor5 as to how they may be used. These include designated funds which have been set aside out of unrestricted fund5 by the trustees for specific purposes. At 1 May 2023 Incomlng resources Resources expended At 30 Aprll 2024 General funds 86.214 754.006 (677.523) 162.697 PREVIOUS YEAFL. At 1 May 2022 Incomlng resources Resources expended At 30 April 2023 General funds 98,135 531,212 1543,1331 86,214 11 ANALYSIS OF NET ASSET5 BETWEEN FUNDS Total Fund balancÈs at 30 April 2024 are represenled by: Tangible fixed assets Current assets/lliabilitie51 16,453 146.244 162,697 13-
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL STATEMENTS (coTrrriNUED) FOR THE YEAR ENDED 30 APRIL 2024 12 OPERATING LEASE COMMITMENTS At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which tall due as follows: 2024 2023 Within one year Between two and five years 299.602 582.197 64,391 183,138 881,799 247,529 13 RELATED PARTY TRANSAcfioNS TRANSACTIONS WITH RELATED PARTIES During the year the charity entered into the following transactions with related parties.. ASK THE Q LTD In the year the charity Incurred £78,42012023 £87,361} to ASK THE Q LTD for consultancy fees and boiler repairs, {Mr D Hennigan who is the CEO of Future Housing Solutions and is a director and shareholder of ASK THE Q LTD). At the 30 April 2024 the charity owed £1,50012023 £nil). 14-
FUTURE HOUSING SOLUTIONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 14 CASH GENERATED FROMI(ABSORBED BY) OPERATIONS 2024 2023 Surplu5/1deficitl for the year 76.483 {11,9211 ADJUSTMENTS FOR: Depreciation and impairment of tangible fixed assets 5.204 4,246 MOVEMENTS IN WORKING CAPITAL" Decrease/(increase) in debtors {Decreasel/increase in creditOTS 2.737 (9.042) 113,212) 13,605 CASH GENERATED FROMI(AB50RBED BY) OPERATIONS 75.382 17,2821 15