REGISTERED COMPANY NUMBER: 07492338 (England and Wales) REGISTERED CHARITY NUM8ER'. 1141044 SHREWS8URY HOME A COMPANY LIMIT FOR ALL TEE USTEES. RE TATEMENT RTHEY **SHREWSBURY HOMES FOR ALL** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** |||**Page**| |---|---|---| |**Reference and Administrative Details**||**1**| |**Trustees' Report**|2|2
**to**8| |**Independent Examiner's Report**||**9**| |**Statement of Financial Activities**||**10**| |**Statement of Financial Position**||**11**| |**Notes to the Financial Statements**|**12**|**12**
**to16**| SHREWSBURY HOMES FOR ALL REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH TRUSTEES Mrs C Crackett Mr A D Marshall Mr B Parr Mr S A Robbins Ire6Jgned 31.7.221 Mrs J M Webster (resign￿$ 29.4 22) MrA T Lines Mr E A P¢)tter {apwnt8d 114.23) COMPANY SECRETARY Mrs C Crackett REGISTEREDOFFICE The Roy F￿tCher Contre 12- 17 Cross Hill shre￿$bUry SY1 1JE REGISTERED COMPANY NUMBER 07492338 (Engiand and W81es REGISTERED CHARITY NUMBER 1141044 INDEPENDENT EXAMINER TCA IShr*Nsburyl LLP Third Floor 21 St Mary's Stre Shrewsbury Shropshire SY1 1ED CHIEF OFFICER Joanne Gough Pagè 1 HREWSBURY HOME FOR ALL TRUSTEE 'REP RT E YEAR ENDED 31 MA The Iruslees who are also directors of the charity for the purposes of the Ccanpanies Act 2006, p￿ent their report with the financial statements of the charity for the year ended 31 Mareh 2023. The Iruslees have adopted the provi3KJns of Accounting and Reporting by charit￿5. Statement of RecoffKnond8d Pract￿8 applicable lo charrties preparing Ihwr accounts in xcoréance wtth the Financral Reporting Stgndard applicabFe in the UK and Republic of Ireland IFRS 1021 (effecbve 1 January 2019). STRUCTURE. GOVERNANCE AND IAANAGEMENT onstltutk)n Shrew5bury Homes for All wa5 established as a company limrt8d by guarante8 (Companies Hou$8 numb8r 74923381 and registered charTty (Chanty CcfflmiSs￿n number 11410441 in 2011 A charty with the same name was eBlablished In 1993 as an unirwrporaled bc•Jy and all the assets of this first charity w8re Iransf8rr8d to this in￿rporatad charity on 1 Awil 2011. The charlly is constiiuted by a set of Memorandum arKI Articles of Associatign dated 10th January 2011, revised on 10 N¢)vember 2021 10 include provisions for remcrte and hybrkl n￿etingS and decision mèking ty email Go¥•m•nc• The managémènt of Shrèwsbury Homes fof All the responsibility of the trustees who provtde lèadership and set the Strateg￿ objectives of the chafty. including the preparation of the bu51ne$5 plan and annual budgets, and monitor progress with regard to delNory. The prinGipal business of the rharty i¥ the prow$ion ol independent housing advice, the letting of properties and collsction of r￿1$ on bèhaff of pnvate kindltyds and the provi8N)n of support 8ervv5 to those who are homeless, inadequatety housed or vulnerable. The Shrew8bury H¢)m88 for All trustees are elecknj and untjer the lernis of the Memorandum and Articles of Assrtialion. Shrows￿ry H(Ynes All strives to ensvfe that rts trustees are represenlalive of the l¢)eal community. Current Iruslees include a ILxal landlord Trustees are oW•d 8t Ihg Annual General Meeting IAGMI by rolat￿n and may be ctropted be￿8•n AGMS. Poll¢lM adopt•d for tho Induct1￿ •nd tr•lnlng ol Tru8lae• All new tru$lees are en¢(￿raged lo familiarise themselves wlh thé praettsl work of the charty. In addition, they are provided with an indLKlton pxk of guidance notes detailing their responsibilitvas and providing them with Ihg main documents whKh 8et out the operational fraM￿k for the charity. including.. Mèmorandurn and Aitbs ofAsS￿{ati0n Latèst publishe(l Financial Statements and Annual Report In addition. tnjstees ere encouraged to attend any avalW￿ Iraining. and take an active role in the organisat￿n wherever possib￿. Oryanlsatlonal structur• and dg¢l•k)n making The day lo day running of the charty is delegated lo the Chief Officer. Decisions on eMploYrr￿nI of staff are taken by the tru$lees in Consultatk￿ with the Ch￿f OlfKor. Polw aThJ financial decish)ns are made by the trustees in consultation with the Chief Officer. Page 2 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH Ri$k managomenl The trustees have assessed the major risks to which the charty B expows on an ongoing ba8is, in particular those related lo its operations and finances. The major risk remains th8 8v&Lqbilty of funding from Sttropshire Council through the Sustain Consortium. Our current conlfact has been extended and at the lime ol writing runs until December 2023 as a conty'nuation of previou5 ￿reementS. peThYing fvll re-lendering for the period from January 2024. The income receivèd through the ￿nsortIuM currently cornprises 65% of incoming resources. The Iruslees have ensured that the accounts contain suffKi6nt reserves lo Cover the costs ass¢xiated with the closure of the charty Including staff redundaneiès and withdrawal from the pensk)n scheme but also rèmain commffted lo k¥)king for artemative sources of futur& fLtnding through other available grant streams. OBJECTIVES AND ACTIVITIES Pollcl•s and obl•etiv8# The principal object of the charity as slated in the art￿e5 is 'To relieve those In r￿d of asstslance. in p8rt￿ut8r bul not exclusively peop￿ who are homeless, in housing need or who need help lo avoKI homelessness. 'Stralegie5 and policies are ￿r8ed and imp￿nted in order to achieve this object. The range of serv¢es provided by Shrewsbury Horrts lor Al link l¢Jgether to r•duce homelessness in the Shrewsbury area arKI Improve the qualty of lrfe for all who cont*1 the charty. A¢tlvltl The main adivitles of tha charty rA>nlinue to be.. Advice SeNicés'. Providing independonl hJu5irvJ ad¥￿e and supm services Finding accommodation using our register of private laTrJb)rds Helping to complete housing and other benefit lom18 Providin9 a general fl¢Ming support and signposting selv￿0 Acting as Advc¢ate on beh8ff of ¢lÈnts wrth kndlords. ulilitM. statutory b¢>Jie8 ond others. Financial Help". Rent account scheme- ￿leCtIng the four weekty h¢)using benefrt payments or univarsal credrt housin9 element and shortfall from the tenant ané paying the rent lo Ihe landlord monthly. Discretionary Housing Payment IDHPI bridging schefft - 11 eligiblo. we can provide a faster payment of OHP monies lo landlords lo avohl ￿n9t￿Y delays. Bond s¢heme- we guarantee up lo one ft￿th's rent as deposit for 8ligibl¢ apPI￿nts Maximisalion of Income - Support for tenants ènd ¢I￿nts to appty for applicable benefits. grants or funding. Support Services.. Floating support - we provKle a general tenancy SUPF*Xt sérvicè for at l•asl 48 people at any lime Ifunded by Shropshire Council as part of the Sustain c￿￿rAb"Urnl. Ad-hoc support - We also offer daity telwh0n￿ele(￿ron￿ dro*in support, to help clien15 Wrth onwff nèéds. During the year in review, charity received e0nfirna1￿rt of fundiro frC￿ the National Lottery Communty Fund, to L4unch a housing support servtce from April 2023. This will fr￿u$ on $upporting cl￿nIS ors homeless or al risk of homelessness. and Ihose inadequalety h￿se¢l. Page 3 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Thege support xtSYltlgs achi•v• our objects in the following way$: The timely provisKJn of irKlependent housing afvice to all those Worr￿ about the posst*ilty of homelessness and those who are ￿ or inadequ*ety housed ensures that clients a￿ empowered lo make the best poss0* decisic￿. Encoufaging landlords to let to tenants claKning beneffts and SUPFrtyting them lo do so effectively. This increases the supply of properties for pec(>le on benefits thus improving the chanees of Ih¢)se in housing need gaining access to suitable hwsing. Running rent accounls for tenants ensures that no mtstakes ar& made over housing benafrt or universal credrt and tenants do not get into arrnars. thu8 ensurin9 that they rwnain housed. The Bond and DHP bridging scheme supports those without funds to xces5 both a month's reril and deposf( in advance. Assistsnce is given to access these schemès arKI in tum liaise with landbrds withoul such support many clients would not be ab￿ lo stsrt renting. Our 8UPPOrt en8ure that tenants have maximised th￿r Ir￿n￿ by claiming all appropriate benefits - therefore leaving them more able lo meet their financial commitments. and being able lo cope with the difficulties tha¢ life presents. Wrthout this SUFfK)rt, many of our most vulnerable clients would losa their tanancie8 and become hc*nefess. Volunt••r S•rvlc Shrewsbury Hc¥ngs for All wthilst not ovety reliant on th8 use of volunteers is supported by indNiduals who undertake administrative funct*)ns and prowda 5T Support. Publlc Benefit All Shrèwlbury Homos for All 8¢tMties have been undertaken wih reference to the Charty Commission guKIAnce on public benefit and are available lo all. S￿r￿bUry Homes lor All operates wrthin an Equalty and Diversty polw. Llal•on wlth other Or9•nlsatk)ns Shrewsbury Home5 fgr All 15 invthd in Inrt￿tlveS to ccrtst the problem of h¢xnebssness in the Icul area, and 18 represenl&J on.. The Sustain Con8OrtJ'um The Shropshire Council Housing Opti¢￿$ referral palhway. The Shropshire Homekgssness Forum Shrth¥sbury Home8 for All liaises wrth. and ￿eNe8 referrals from, olhei ager￿￿ irKluding'. Communty Mentsl Hearth Teams Shropshire Recovery Partnership Shropshira Housing Alliancthekin HousirrfJ Trust Department of Work and Pensions ial Prescribing Teams Crtizens A¢S¥ice The Shrewsbury Ark IxthYSS P4e4 REWSBURY HOMES FOR ALL TRUSTEE ' REPORT FOR THE YEAR ENDED 31 MARCH 2023 ACHIEVEMENTS AND PERFORMANCE Clients for housing advice_. serV￿e Users housed". Number of Rent aecounl5'. 815 113 Tenancies maintain8d lor.. over 1 year over S ye8fS over 10 years over 15 years 20 15 10 We see the length of these tenanc*s as evidence that. through our rènt xcount and gUPPOrt schemu, we are helping our clients lo achieve a st&>le lifestyte. Although we have not neéded to ulilise our bond guarantee scheme durirMJ the year, we have helped tenants ènd clients to apply for council funded Discretionary Housing Payments lo secure lenancie8. We have managed an average of £26.629.28 in rent payments por mnth through OLtr rent account and we have 27 landlords letting through us. We have offered support, advice and dropin sessK)ns by telephone, electron￿ mèans and face to face meetings. These 466 Se5$￿n3 ¢ovefed form filliTrJ. online benefit applications, support x¢essing grants and seNices and h8lp with making Homepoint appl￿1￿$ and bKls. the year we also provided a fomial tenancy support serv￿6 lo a lolal ot 128 peopk. Universal Credit is n¢)w the primary benefrt accessed in Shropshir6, while those on old style bonefits are gradually bèing Iransf8rred ovar lo this system. We have supported tenants lo access Shropshire Council's Discretionary Housing Payment IDHPI ￿er￿e for rent and deposit in pAvance. bul we have experienced signrficanl delays receiving payments. To taekbe Ihis. we use our DHP bridging fund so that we are able lo pay our landlords on lime whilst we aw8rt the funds. This has helped m&nlain our good working relationship with our currenl land￿rdS and is a incentive for prospective klndlordg. The fall out of COVID-19, higher expenses for landknd8 and the ￿St￿f41￿n9 Gnsi5, have of course had an impact on the availability of affordable housing across thè board. AkJng$*e our ongoing relationships wrth lon9Standing landlords. we etsntsnuo lo recrurt new ones and buihj strorrfd reL4lKinshps wrth other htyjsing providars. We off8r a ronl collection service. and we work with tenants. The Departmenl of Work and Ponsions and Ihe Housing Benefrt office to help ensure Ihat all the ccrfrecl fomis arè eompbètèd, and payrrnnts are made. We see the provision of decent, affordab￿ housing as essential for people attempting lo get into work and develop relationships. We are very gratelul lo our exisling landlords, many of whom have been letting through us foi several years, and who are wlling to give pecple the opportunrty to 9et a foot on the ladder. Thg success of our service is demonstrated in that S of our tenants havè boon in proporti8s with Shrthvsbury Homes for All landlords for over 15 years. Tènancy support is available to all nthv lenarrts can also be accessed throughoul the tenancy if the need arises. Our drop-in support service is also available for those who prefer not 10 sign up for on90ing support. We regard the availabilty of our ongoing tenancy support a$ a vital 61ement in sustaining tenancies. Page 5 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR ThE YEAR ENDED 31 MARCH 2023 Funding Sourc•s Shrewsbury Homes for All'5 wncipol furKler 15 Shropshire Council {wa the Sustain Consortiuml. The Sustain Consortium lunds hovsirvJ support work to enable vulnerable people lo maintain their tenancies and improve their general wellbeing. Our unrestrKted fvnds Currently enabk the charty to undertake those other aclivil*s reqUI￿d to fu￿11 our obl￿tIVes. Commerring April 2023. the charty ha5 been granted funding from the National Lottery lo deliver housing supwl. This project is being match funded by SHFA and is currenlty planned to con11nu8 for 2 years. This funding will eomplement that ￿CeNed from Shropshire Council Isuslainl, by providing access 10 5UPFQrt wrth grealty reduced warting limes and opportunrties to work ￿th other org8nisalions lo $upport indiv¥Jual$ wth compbx needs. Fundraising is continuing lo support the charity, building on the success ol the bttery furKling apPlut￿n. Shrth¥sbury Homes fc< All hobjs cash fvnds and the tnjstees have found savings accounts with the best r*e$ currently av8il&Jle. whilst *ving funds accessible to cover reductv)ns in income. RoSor¥es De8wnated ond 9oneral funds are separately disclosed in rbote 9 of the ￿OUnts and are defined as follow8. eneral Fun - reserve8 wdilab18 to spend at the diSc￿'C￿ of the trustees in furtherance of the challtable obje¢tive$ of the Charty Fffje reseNes l*ld 81 the yearend were £20,35212022 £48,900) 11 is the Iwslees. polw lo maintain suff￿￿nt desynated reseNes to cover all eommilmenls in the event of a significant reduCt￿Th In *Nrty or winding up. The amount held is revwed annually due lo the eonslantty changing funding regimes and in the light of the risk management pro¢ess. Thè running crf ront accounts and holding ol bonds for tenant$ r8quires a considerable amount of money lo be ring-lenced lo ensure 911 cornmrtmenls can be met. Furthemore, the ￿Se￿&S lo cover the winding up of the charty needed lo be suffrienl to cover up lo six months, nJnnin9 costs so that all the open rent aecounls and bond$ Could be Suc￿ssIu11Y ITon$ferred lo anolhef organisation without endangering gny of the lenanoe$ and ensunng a 9t>>J serM¢e for both our kndk)rds and lenanl$. Due lo Ihe continuing uncertainty over the Sustain funding and the impxl on Shrewsbury Homes for All, viability Ihe8e desyn8ted reserves have been maintaineé. The increase in designated reserve$ during the year rnlects Ihe increased provision for redundancy arrtl m¢)vements in ¢Xh¢r Costs. Rovlow of th• y￿r The yew shNs a def￿1t of £23,625 {2022 £14.2671. 8th yegrfs def￿118 refflect tre cufrnnt gap bgtsveen income and the running ¢o$ts of Ihe ¢harty, and both were reduced by redLKtions in our pension debt on wrthdrawal Thi$ has sleadity decreased ovw recertt years and the Iruslees are confident that this will s¢Jon no longoT b• a wmrnrtmenl Our cosls have been reducvj lo the minimum compatible with maintaining high $lan¢Jord$ and Ihg trustees have decided lo use the reserves buim up ovèr prévious years lo sustain the arity during the current tight fvnding conditions. During the year the tharity le￿ived 2 grants from Choritable Trusts We a￿ most grateful for the continuing supp)rt the mill￿hope Foun¢lation 1£3,CQOI and tho one-off grant of £S.000 from the Albert Hunl TN$t. Shrewsbury H¢Jmes for All meets the definrtDn of a public benefit ￿tity under FRS 102. Page 6 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAR Challenges Our sector is currently facing chal*nges in provtsions and funding, which refieded on a national seala. Requirements for landlc¥d compliance ￿ becoming stricter, resuRing in many landk)rds leaving the business. There is also a strain on social housing stcck. with wartin9 lists falling inio years to secur8 an appropriate propety. This is having an Mxpact on aflordabje housing arKt availability of housin9. meaning an increase lo Ihose reaching out to our serv￿. Funding streams from stalutcry bod￿ are also lessening. Once fully funded. support and assistance services are now in jeopar¢Jy due to the uncertainty of sustainable income. Non monrtored granls have also become hafder lo attain as there ￿ mole competition those applying. and loss provision now that COVID 19 grants have ceased. On a national scale. the eo81-of-living ¢nsr6. zero housing benefit￿lc housing element uplfft. and higher fuel costs are making affordable housing options scarce. Our team works hard lo provhje ben8fil and grant infomiation lo cliénts and lenants. helping lo boost people's income and m&ximisa their finances. The ¢harily's main source ol funding.. the $uppL)rting people contract as part of the Sustain Con80rtiurn from Shropshire Council 18 rw due lo end on 31 December 2024. 11 was owinally due lo finish on 31 March 2023 and completion ol this report has been ddaY￿ In the hopo that the situation would have been confirmed. We are still warting for a clear idea of the eff¢¢t of the prop08ed redueed fvnding on the charity, since discussions are continuing with parlners about the way fo￿ard. This uncertainty has 81ffled decision making, bul we hope that when the srtuation is c￿r we will be ablè lo seek funding lo support ￿r clignls which will work alongside the statutory proVis￿n within the county. whatever that tums out to b•. Futur• plans Our future planning is Cur￿ntIY on hokl. *v8rting the cAjtcc￿8 of the deusions a￿Lrt our main funding from Shropshire Council Since Ihis comprises 65% 01 our annual incom8, the decisions yet to be made will have a profound Impact on the charity. We ale commrtted lo working in partnership with stalulory, housing and voluntary organisalions to serve our elienls, but ￿nn01 undertake any meaningful inthalivos while we Bre slill waiting for éecisions to ￿ mado. Ouf work wrth larKllords 18 a￿y& ongoing as we continu• lo récrurt rew indNhduals ￿lling lo lot to people on benefrts and low incomes arKI to suppgrt those who already do $0. The rnany chang85 to the benefrts system are confusing lo many, not ￿lY landl￿4$, and we will Continue lo support them as the requirements continue to change and evolve. Pwje 7 SHREWSBURY HOMES FOR ALL TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. RESPONSI8ILrrY STATEMEKr The trustees (who are also the director5 of ShrehEbury Homes For All for the purposes of company lawl are responsible lor preparing the Trustees. Report and the f nancial ststements in accordance wrf(h appluble law and United Kingdom Accounting Standard5 IUnrf(ed Kingdom Generalw Accepted Accounting Pr￿lice) including Financial Reporting Standard 102 'The Financsal Rewting Standard applteable In the UK and Republic of Ireland" Company law requires the truslaes to pr8par8 financial sL7tement5 for financial year which give a true and fair view of the slate of affairs of the charrtable company and of the ir￿ming r050urces and applieation of resources, including the income and expenditu￿. of the charrtable company for Ihal peric*J. In preparing those finan¢01 $iatement$, the trustees *e required lo sdect suitable ac¢ounling policies and thèn appty thèm consistèntty.. observe the methods and wnCIp￿ in the Charity SORP.. make judgements and estimates th* are reasoftab￿ and prudent". prepare the financial ststements on the goin9 concern basis Un￿86 11 is inapproyiate lo presume that the charttabl• eompany will contlnue In bu&ness. The trustees are r88ponsble for keeping wopgr xcwnting records wh￿h disclosfr with rga8onable accura al any lime the fmancial p08rt￿n of the charrtabl8 company and to enable thèm to ensur8 that th• finaneial slalements cornp￿ with the Ccfflpanies Act 20C6. They are also responsole for safeguardin9 the assets of the chantable conN7any and her￿e for taking reasonable steps for the preventh)n and detection of fraud and other Irregukrbt￿s. Approved by ordor of the board of trustees on ... and signed on its behalf by: Mrs C Crackott . TTu8tao P4e8 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHREWSBURY HOMES FOR ALL Independent examlnefs report lo the trustees of ShTew5bury Hornes For All Ilhe Company'l I report to the charty trustees on my examinat￿n of the accounts of the Company ￿ the y8ar 8nded 31 March 2023. Responsibilltles and basi$ of roport As the charrty's trustees of the Company (and *0 rts directors for the purpose5 of company lawl you are responsible for the preparation of the acwunts in a¢￿dance wth the requiremènts of the Companies Act 20061.lhe 2(￿6 Act,). Having satisfied myseff th* the accounts of the Cuyyeny are ncrt required to be audited under Part 1 S of the 2006 Act and are eligible for independent exafflination. I reFQrt in respect of my examination of your charty's accounts as carried out under Section 145 01 th8 Chanlies Act 2011 I'tha 2011 ACYI. In carrying out my examinalK)n I have followed the DireclTrons given by the Charty Commr85ion undar Sectson 145(51 Ibl of the 2011 AGI. Independent ox•mlnerf• statement I have compbted my examination. l eonfirn that no matters hove coffe to my attenl*)n in t>)nne¢t*)n wrth the examinalK)n 9*ving me cause lo beI￿ve.. accounting records were not kept in respttt of the Conwny a$ rgquired by sect￿ 386 of the 2f Act., or the accounts do not aC￿d with those re￿[d5'. or the accounts do not compty wrth the accounting requirements of Section 3￿ of the 2006 Ad other than any requirement that the accounts gNe a true and fair vi8w whrh is not a matter considered 88 part of ar independent examination," tsr the aGcounts have not been prepared in ￿￿dance wrth thè mèthc*J$ and principl85 of the Sl8temenl of Recommended Practice lor accounting and reporting by charrt￿$ lapplKable lo chanties prèparing their accounts in accordance wilh th6 Finanuol Reporting Siendafd appluble in the UK and Républic of Ireland IFRS 10211 I havo no ¢on¢erns and have comg across no other matter8 in conr*K)n wrth the examination lo which attention should be drawn in this report in order to enable a woper understanding of th• aetounl$ lo be reached. C Mcehryn-williams Bsc FCA TCA Ishrewsburyi LLP Third Flth)r 21 51 Mary's Street Shfewsbury Shfopshire SY1 1ED Date. l.Lk+h...NKm. k).ef 202 3 Page 9 SHREWSBURY HOMES FOR ALL TA MEKf OF FINANCIAL ACTMTIES INCORPORATING AN INCOME AND EXPENDITUR FOR THE YEAR ENDED 1 MARCH 2 23 ACC 2023 Unreslrided funds 2022 Total funds INCOME AND ENDOWMENTS FROM Donations and legac*s 1.841 3.784 Charftabl• actl¥ltles Charitable 72,000 77,833 Inve$tn*nl income 1,500 Total 74 995 83117 EXPENDITURE ON Ch8rlt4bl• actlvltl•8 Direel Charitab￿ éxpèn80 NET INCOMEIIEXPENDITURE) 123,625) 114,2871 RECONCILIATION OF FUN08 T¢lal funds brought forward 150,701 164,968 TOTAL FUNDS CARRIED FORWARO 127 076 150 701 CONnNUING OPERATIONS All income arKI expendrture h85 arisen frryn continuing actrvilM. The notes form part cl these finan¢ial State￿nts Page 10 SHREWS8URY HOMES FOR ALL STATEMENT OF FINANCIAL POSITION 1 MARCH 2023 2023 Unrestricted fvnds 2022 Totsl funds CURRENT ASSErs Debtors Cash al bank 881 183 652 154,195 154,195 184,533 CREDITORS Amounts lalling dLte within one year 122,1971 123,980 NET CURRENT ASSETS 131.998 TOTAL ASSETS LESS CURRENT LIABILITIES 131,998 160,553 PROVISIONS FOR UABILITIES {4.9221 19,8521 ASSETS 127 078 150.701 FUNDS Unrestricled funds 127 076 150701 TOTAL FUNDS 127 078 150.701 Th8 charitsble company is entilled to eXempt￿n audit under Secllon 477 01 the Comparii8s Act 20C6 for the year ended 31 March 2023. The members hav$ not required the ccffnpary to otAain an audit of it# fina￿1￿1 statemgnls for the year ended 31 March 2023 in accordanc8 wrth SectK*n 476 of the Compan￿5 Act 2006. The Iruslees acknowledge their resp(￿lbilrt￿ for 181 ensuring that the charitsble company keeps aeeounting records that compty wrth Se¢tion$ 386 and 387 of the Companies Act 20C￿ and preparing financial stalefflents whth give a true and fair of the stsle of affair5 of the charrtable eompany a$ al the end of each financial year and of its yurplus or deficit for each financ￿1 yèar in accordance wilh the requirèmènts of Se¢tH￿s 394 and 395 and wh￿h otherwise compty with the requirements of the Companies Act 20C6 relating lo financial Statem￿1t$. $0 far as applicable lo the charitable company. Ibl These financial Stat￿entS have been prepared in accordance with the pro¥isJons appl￿ble lo Gharitable ornpanies subject lo the small compan*s regime. The financial st81ements were approved by the Board of Trustees and authorised for i8SU6 on .. and wère signed on Jts behaff by.. Mrs C Crackett - Tfustee The notes fom) part of these financial stalerrÈnts Pa3e11 HR NOTES TO THE FINANCIAL STATEMENTS R THE YEAR ENDED 31 MARCH 2023 ACCOUNnNG POUCIES Basis of preparing thg fin•n¢l•l statom•nts The financk41 statements of the charftable company. wh￿h is a p¢Jblic benefrt entty under FRS 102, have been prepared in aecordance wrth the Charrties SORP {FRS 1021 'Accounling and Reporting by Chanties.. Stalemenl of Re¢Mimended Prx¢￿e applicable lo charilies prepanng their accounts in accofdance with the Financwl Reporting Stsndaid appl*ab￿ in the UK and Republic of Ireland IFRS 1021 {8ffectNe 1 January 2019)., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland. and Ihe Companies AGI 20(É. The financial slalemenls have been prepared under the historul cost convénlbjn. Financial reporting stsndayd 102- reducod do8cl￿urn exèmptions The chafilable conwany has taken 8dvantsge of the f￿lo￿ng disclosure exemptions in preparing these financial ststements. as pemthed by FRS 102 The Financial Reporting Standard applicable In the UK arKI Republ￿ of Ireland.: the requiTernenls crf Section 7 Statement of Cash Flcws". the r￿uireMent of paragraph 3.17ldl", the requirements of paragraphs 11.42. 11.44. 11.45. 11.47, 11.481aMiii), 11.48lallivl, 11.48lbl and 11.48{cl-, the raquirement$ of paragraphs 12.26. 12 27. 12.29la}. 12.29lbl and 12.29A, lh8 requiremen¢ of paragraph 33.7. Income All income is feccgnised in the Statement of Financ¢al Aclivrties once the charity hos enlillemenl to the fund8, it is probable that the in￿rne will be recewed and the amount can be Measur￿ reliably. Exp•ndltur• Liabilrties are recogni8eA as expendlture 88 soon as there ts o legal ￿ constructlve obligallon committing the eh8nty lo that èxpendrture. rt is probabk that a Iran$fvr of oconomic benefrts will be required in Settlement and the amunt of the ¢)bligation be measurgd reliabty. Expenditure is accounted for on an accruals basis and has b￿n classrfied under headings IhBI aggreg8le all cost related lo the catègory. Whera costs onnot be ¢Jire¢tty attributed lo Part￿Ular headings they fbave been allctated to aclrvrties on a basis consislenl with the use of resources. Taxatlon Th• Charity 1$ 0x￿￿pt from wporalw on ts charrtable activthes. Fund •ccountlng Unfeslricted funds ¢an be us•d in a¢¢tyd￿e wrth the charitats￿ cèJ'ectNe8 at tha discretion of Ihg trustees. Restricted fur*s can onty be used fN particular reslrided purposes wrthin the objects of the eharity. Restrictions ar￿ when s￿rf1ed by th8 donor or when funds are rai8ed for particular restricted purposeg. Further explanation of the nature and purFose of fund B included in the notes to the financial statements. Penslon costs Jnd othr past4etlremont benefits The Charitab￿ company operates a defin8d contribU￿n pensi?n schem. Contfbutions payable to Ihe th8ntab￿ companys pension s¢heme are charged to the Statement of Financial Activities in the period to whKh rn1o1•. See further detail In ncée 11. Cash at bank and in hand Cash at bank and in hand includes cash and sl￿-teM highly14uhl investments with a short maturity of three months or less from the date of awuisrtion or opening of the dep)sit or similar account. P4e 12 continued... SHREWSBURY HOMES F S TO THE FINANCIAL STATEMENTS - contln FOR THE YEAR END 023 ACCOUNTING POUCIES - contlnued Financial instruments The chanty only ha5 financial assats and financwl Iithl((i8s of a kirKI that qualfy as basic financial instnjments. Basic financial instruments are init￿lty rwnis8d * transaction value and subsequently measured al their settlement value. INVESTMENT INCOME 2023 2022 Deposrt account interest 1,500 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Landlord contributions Sustain Consortium Millichope Foundation Other Charitable Charilab Charilab Chafilab 14,862 49,138 3,000 5.000 15,694 49,139 3,000 72 000 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remunoratw ty other beneffts the year and&J 31 Marth 2023 nor for tha yaar ended 31 M?￿h 2022. Tnnt•es' expens The￿ were no Irusl*és' expenses povj for the year ended 31 March 2023 nor for the year ended 31 March 2022. STAFF COSTS 2023 2022 Wages and 8818ries Other p•n5ion cos1$ 9),764 5.174 92.606 The average r￿nth￿ number of empb3yees during thè wr was a$ follNs: 2023 2022 General activities The average numbgr of fvll time equivalenl employees during the year was 4.12022.. 41 No employees received emoluments in excess of £60.000. PwJe13 continued... HREWSBU S FOR ALL NOTES TO THE FINANCIAL STATEMEPUS - contln FOR THE YEAR ENDED 31 MARCH 2023 DEBTORS: AMOU14TS FALUNG DUE WITHIN ONE YEAR 2023 2022 Prepayments CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade creditors Social security arvj other taxes Ten8nl loan fund Client fvnd$ - ongtyng rtnt *I>￿nts Client fijnds held for bonds Accruals 107 174 $68 13.8841 15,876 9,976 5.605 5,168 9,451 1.224 22,197 23,980 Shrewsbury Homes for All receNes h¢xtsing b8n8fft and the shorttall due from clients at varicMJ5 times during the month. The money Is onty paKI lo the landlord when the rent falls due, so at the year end there is an amunt held r8ady lo do this This amount varies sub$tsntialty day to day land so year lo year) due lo timing issues. PROVISIONS FOR UABILMES 2023 2022 Pension debt prowsK 9.852 The provI8￿n rdotos lo the estimated ￿n9￿n debt as set CArt in note 10. MOVEMENT IN FUNDS Net movement in fund$ Transfers btheen funds At 31.3,23 Al 1.4.22 Unrnstrlct•d funds Genefal fund Designated fund 48.900 101.801 123,625) 14,9231 4,923 20.352 23.625 127 076 TOTAL FUNDS 150.701 23 625} 127,076 Net nv)vement in funds. includ&S in the above are as followa." Incoming resources ResoU￿e$ expended Movement in funds Unre5tr1cted funds General fund 74,995 198.6201 123.6251 TOTAL FUNDS 74,995 98,6201 23.6251 Page 14 continued... SHREWSBURY HOMES FOR ALL OTES TO THE FINANCIAL STATEMENTS-con FOR THE YEAR ENDEO 1 MARCH Inu MOVEMENT IN FUNDS- conlinued CornparatiVa8 for mov•m•nt in fvnds N8t Tr￿vement in funds Transfers btheen funds At 31.3.22 At 1.4.21 Unr6strictod fvnds General fund Des￿nats￿ fund 61.254 103.714 (14,267) 1,913 1,9131 48,900 101,801 14,267 150,701 TOTAL FUNDS 164,968 150 701 Compafative net movement in funds. included in the above are 88 folk?￿. Incoming Resource8 Movem?nl re%)urce8 expended in fu￿9 unrestrlct￿ funds Genaral frjnd 83,117 197,3841 {14,2671 TOTAL FUNDS De$KJnated funds Tha running of rent occounts and holding of bondl for tenants requires a considerable amount of money lo be ring-fenced to ensure all commitmènts can be met. Furthemiore, the reserves lo cover the winding up of the Charty need lo be suff￿lent lo cover up to six mortlhs, running costs so that all the open rent xcounts and bonds could bè suecassfulty transferred lo another organisation without endangering any of the tenancies and ensuring a gcoJ service for both our landlords and tenants. The ¢Jesignated funds are recalculated annually 10. EMPLOYEE BENEFIT 08LIGATIONS Shrthvsbury Homes for All participate8 in Ihe Pensions, Trust GrThth Pk4n (the plan"). The plan is funded and is not conlfacted out of tha stalè stheme. As at the ba18nce sheet date therè were six ￿t￿e mernbers of the Plan employed by Shr8wsbury Homes for All. Shrew5bury Homes for All continu8s lo offer tr*mbership of the Plan lo (t's employee5, atthough from October 2013 on a definad eonthbutw t)8sis. 11 Is not possible in the normal cours& of events lo Nlentfy on a reasonable and consistent basis, the sharè of the undertying assets and Ikgbilities bek)nging to indrvidual particip*ing employers. The Plan is a murni-employer scheme, where the assets are c(Hningle(I for inve8tments purposes, and benefits are paid Out of the Plan's lolal assets. AccordiTrJty, due to the nature of the Plan, thè accounting charge f¢X the year under FRS 102 and SORP 2015 represents the employer eonlributions payable. The contribution for the year was £5.731 12022.. £5.847}. The latest full valuatson of the P￿n as at 30 September 2017 was perfom*d by a professionally qualified Actuary using Ihe Projected Unit Methc¥J. The ￿UatIon revealed a ¥hortlall of as581s compared with the value of liabilil*s Of £131.5 million. Shrewsbury Homes for All paid contn"bulwis al the rate of 6.2% (2022: 6.2%) during the accounting period. Members paitj contributions at the rate of 3.8%12022.. 3.8%) during tho accounting peri¢d. Pa3e 15 continued... SHREWSBURY HOMES FOR ALL TO THE FINANCIAL STATEMENTS- conlinued FOR THE YEAR ENDED 31 MARCH 2023 10. EMPLOYEE BENEFIT OBLIGATIONS- continued When an employer withdraws from a muliwnployer defrned benefrt pension Scheme which is in deficit, the employer is required by law lo pay rt's share Of the deficrt, calculated on a statutory basis IkrK)wn as the buyvout basis). The calculatioft basis Ihal applbes to the Growth Pian was amended due lo a ehaNJe in the definitw d money purchase contained in the Pensions Act 2011, bul the regulations that de18rmine 8xactty how the change will app￿ in p￿tICe are still awaited. As the law stands. r( is not yet clear lthether the slalulory calculat￿n should Include or exctude Series 3 liakn'lilies. Hcrwever, based upon CUTrent adv￿, the most likely interprelation is that Series 3 Ikqbililies will have to be induded in the ¢*u￿t￿ of an empbyefs debt on withdrawal. The c081 of withdr8wal to Shr•vsbury Hom8$ for All as at 30 September 2022 1181est valuation providéd by the Pènsions Trust) would b8 £4.922 {2022." valUat￿n at 30 Sepl6mber 2020". £9,852). The Trust￿5 consvjer thi¥ as a credrtor due lo the indicative removal of the Sustain funding. 11. OTHER FINANCIAL COMldlTMENTS Guarnnteu: Shrewsbury Hom88 for All m*es a borKI Wg• to larKI1￿￿$ wh¢h Ihe lenanl pays tcthards their tenancy. This pledge is payablo lo the landlord at the end of the ten8ncy in eircumst8nc8s of damag8 caused by the tenant or non-paymert of rent. The TruBtee5 have authori8ed pwges of £20K in addition lo the monies receNed from tenants resutting in total pled9ed valuès of £31k at th8 y8ar-end 12022.. £31 Kl. The Mon￿ recewl from tenants ar• du• back lo the tènant rf the tenancy finishes without liEknilty,and are due to the landkird in c8se of non-payment of rent or damage. The bond pleéges made by Shrv•V8bury Hom8s for All a￿ reka$ed ba¢k lo the charty for rè-use rf the tenancy ènds wrthoul Irdbility. 12. RELATED PAR￿ DISCLOSURES Onè of thè currènt Tru8teo$12022.' cThl is also a landtsd wtt+ose homes are rented by Shrewsbury Home5 for Airs tenants. Whilsl the legal agreement Is directly btheen the llgndlord ané the lenanls, Shrew5bury Homes for All do act as an intemediary in the poyments of rents. The value of Ihgse payments for the current financial yeor was £14,700 3 properti￿12022. £14,510 for 3 propertiesl. All landfords are asked to voluntarity donale 8 5% administration contritrmthion from the gro8s monthly rent lo supp)rt the V•ryk of shre￿bury ￿m¢S AU. Donations reeAiv8d from Tru#l8•s duriry the year totalkd £35012022.. £nil). Paye 16