REGISTERED COMPANY NUMBER: 07492338 (England and Walos) REGISTERED CHARifi NUMBER: 1141044 SHREWSBURY HOMES FOR ALL MPANY LIMITED BY GUARANTEE TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMEN FOR THE YEAR ENDED 31 MARCH 20 **SHREWSBURY HOMES FOR ALL** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31MARCH2024** |||**Page**| |---|---|---| |**Reference and Administrative Details**||**1**| |**Trustees' Report**|**2**|
**to 8**| |**Independent Examiner's Repor**||**9**| |**Statement of Financial Activities**||**10**| |**Statement of Financial Position**||**11**| |**Notes to the Financial Statements**|**12**|
**to 18**| SHREWSBURY HOMES FOR A REFERENCE AND ADMINISTRATIVE DETAIL FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES Mrs C Crackett Mr A D Marshall Mr B Parr MrA T Lines Mr E A Potter lapFointed 11.4.23) COMPANY SECRETARY Mrs C Crackett REGISTERED OFFICE The Roy Fletther Centre 12- 17 Cross Hill Shfewsbury SY1 1JE REGISTERED COMPANY NUMBER 07492338 {England and Wales) REGISTERED CHARITY NUMBER 1141044 INDEPENDENT EXAMINER TCA Ishrewsburyl LLP Third Floor 21 Sl Mary's Street Shrewsbury Shropshire SY1 1ED CHIEF OFFICER Mrs Joanne Gough Page 1 HREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are a150 directors of the charity for the purposes of the Companies A¢1 2006, present their report wf(h the financial slaternents of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Chanlies Statement of Recommended Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of I￿￿3nd IFRS 1021 leffecbve 1 January 20191 STRUCTURE. GOVERNANCE AND MANAGEMENT Constitution Shrewsbury Homes for All wa5 estsblished as a company limrted by guarantee Icompanies House number 74923381 and registèred chanty (Charity Commi55hJn number 11410441 In 2011. A charity with the same name was established in 1993 as an unincorporated trfjdy and all the assets of this first charity were transferred lo this incorporated charty on 1 April 2011. The charty 1$ ¢on$liluled by a set of Memorandum and A￿cleS of Associatson dated 1 Oth January 2011, revised on 10 November 202110 include provisions for reff￿le and hybnd meebngs and decision making by email. Governanc• The managerr*nt of Shrewsbury Homes for All is the responsibilty of the tnjstees who proV￿e leadership and set the Strategic objectives of the chanty, including the preparatson of Ihe business plan and annual budgets, and rr￿nitor progress wrth regard to delivery. The principal business of the charity Is the provision ol Independent housing advice. the letting of properties and collection of rents on behalf of private landlords and the provisK*n of support servths to ihose who are homeless. inadequalely housed or vulnerable The Shrewsbury Homes for All trustees a￿ elected and COryOPted under the temis of the Memorandum and Articles of Association. Shrewsbury Homes for All strives to ensure that its trustees are representative of the local community. Current trusiees include a local landlord. Trustees are elected at the Annual General Meeting IAGMI by rotation and may be ¢OaOPted be￿een AGMS. Pollcle8 adoptod for the Inductlon and tralnlng of Trustees All new trusteeg are encouraged lo familianse themselves with the practical work of the charty. In addition, they are provided wrth an inducb'on pack of guidance notes detailing their ￿spOnSIbl11tseS and providing them with the main documents which set out the operational framework for the eharity. Including". - Memorandum and Artides of Asxaalion - Latest published Financk41 Slalements and Annual Report In addition, trustees are encouraged to attend any available training. and tske an active role in the organisation wherever possible. Oryanl8a¢lonal slructure and d￿ls1On rnaklng The day to day running of the chanty is de*aled to the Chtf Off￿er. Decisions on employrrent of stsff are taken by the Iruslees in consurtation with the Chief Offttr. Polw and financial decisions are made by the trustees in consullalion with the Chief Officer. Page 2 SHREWS8URY HOMES FOR ALL TRUSTEES. REPORT R THE YEAR ENDEO 2024 Rl6k managemenl The trustees have assessed the major risks to which the charrty 1$ exptssed on an ongoing basis, in particular those related to ils operations and ffinances. The major risk is the lack of sustainable funding following the dissolution of the Sustain Consortium. This funding consts'luted 65¥0 of SHFA'S total incLsme. We currently receive funding from The National Lottery Community Fund of £25,000 per year until 31 sl March 2025. The Iruslees have ensured that the accounts contain sufficient reserves to c￿ver the costs associated with the closure of the charity including staff fefjundancies and withdrawal from Ihe pension Sche￿ bul also remain Corn￿￿tted lo looking for allematsve SoU￿S of fulure funding through olher available grant streams. OBJECTIVES AND ACTIVITIES Pollclel and obJ•ctlves The Pfincipal object of the charity as stated in the artsd8s is 'To relwe those in need of assistance, in particular but not exclusively people who are homeless. in housing need or who need help lo avoid homelessness. 'Strategie$ and pol￿￿$ are agreed and implemented in order to achieve this obj'ect. The range of seNices provided by Shrewsbury Homes for All link lojelher lo reduce homelessness In the Shrewsbury area and improve the qualty of life for all who contact the charity. Actlvltles The main activities of the charity continue to be.. Advice S•rwico8: Providing independent housing advice and support Ser¥￿e$ Finding a¢comrrwxlabon using our register of prNate landlords Helping to complete housing and other benefit forms General triage and 5ignposling - Acting as advocate on behalf of cl*nts with landltyds, ub"11t￿$. statutory todies and others. Flnanclal H•lp: Rent account scherne col*tin9 the four weekly housing benefil payments or unNersal credit housing element and shortfall from the tenant and paying the rent kn the landlord monlhty. Discretionary Housing Payment IDHPI bridging sCheff￿ - If eligible. we can PTOVKJe a fasler paymenl of DHP mon￿$ to landlords lo avoid lengthy delays. - BontJ scheme - we can guarantee up to one month's rent as deposrt for el4ible applicants. Maximisation of Income - Support for tenants and dients to apply for applicab￿ benefits, grants or fvnding. Support S•rvi¢•• - until December 2023 Floab"ng support - we provided a genernl tenancy support service for at least 48 people al any one liff (previously funded by ShropshI￿ Council as part of the Sustain Consorbum, which ceased in Oecember 2023} Ad-hoc support - We also offer daily telephonelelectronic dropin sUPPOrt, to help clients with one-off need$ and a th'age and signposting service. This is administered by our team member who providers a first point of contact for all those who approach our servu. The National Lottery Community Fund helped launch our housing support Servi￿ in Awil 2023. This has proved a popular. well needed service and focuses on supporting clients who are homeless or at risk of homelessness, and those ina(lequakty house(l. Page 3 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT R THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Thesg support actlvltln a¢hl•v• our obJect8 In the following ways: The timely proVis￿n of independent housing advice to all those worr*d about the possibility of homelessness and those who are homeless or Inaclequatety hcMJseO ensures that clients are empowered lo make the besl possib￿ decisions. Encouraging landbrds lo let to tenants claiming benefits and SUPFty)rting them lo do so effeclivety. This increases the supply of properknes for people receiving benefits thus improving the ¢hanee$ of those in housing need gaining access lo suitable housin9. Running rent ￿ounts for tenants, identifying any mistskes in housing benefit or unNers81 credit, thus sening rent arrears and helpirsg lo ensure lenanls rernain housed. The Bond and DHP bndging scheme supports those wilhoul lunas lo access both a month's rent and deposit In advance. Assistance is given to xcess these schemes and In tum liaise with landlords - without such suppjrt many clients would not be able to start renting - Our support services ensure that tenants have Maxim￿&1 their incoffe by claiming all appropriate benefits therefore leaving them rrKsre able lo meet their financial commitments and being able lo cope with the difficulties that life presents. Without this suppoiL many of our most vulnerable clEnts would lose their tenancies and become hO￿lesS. Volunt••r Servlce• Shrewsbury Homes for All whilst not overly reliant on the use of volunteers is supported by individuals who undertake adminislralive functions and provKle IT support. Publlc Benefft All Shrewsbury Homes for All activities have been undertaken with reference to the Charity Commission guidance on public benefit and are available to all. Shrewsbury Homes for Al operates within an Equality and Diversity policy Llal•on wlth oth•r Or9anisatlon• Shrewsbury Hom$ for All is involved in inilialives to combat the problem of 1￿MelessnesS in the local area, and is represented on.. - The Rough SleeFer Coordination consullations - The Shropshire Council Housing Options ￿ferra1 pathway - The Shropshire Ho￿lessneSS Forum Shrewsbury Homes for All liaises with, and receives referrals from. other agencies including.. Community Mental Heatth Teams Shropshire Homepoint Department of Work and Pensions A4U Social Prescribing Teams Probation Service The Shrewsbury Ark 1x￿ss Page4 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE Clients for housing advKe", Service Users housed.. Number of Rent accounts.. 690 73 Tenancies maintain8d ts". over 1 year over 5 years over 10 years over 15 yeafs 13 13 10 We see the length of these tenanC￿S as evidence that. through our renl account and support schemes, we are helping our clients lo a¢hEve a 51able lifesty￿. Although we have not needed to utilise our bond guarantee scheme during the year, we have helped tenants and clients to apply for council funded Discretionary Housiftg Payments to secure tenancies. We have managed an average 01 £26.000 in rent payments per month through ou( renl accounts and we have 30 landlords lethng through us. We have offered support, adV￿e and drop-in sessions by telephone. electronic means and face lo face meetings. These 332 sessions covered fom filling, online benefit appl￿tIonS, support accessing grants and services and help with making Homepoinl applicats.ons and bids. During the year we also provided a formal tenancy support SeN￿e lo a total of 90 peopl&. Universal Credit Is now the primary benefit accessed In Shropshire. while those on old style benefits are gradually being transferred ovei lo this system. We have supported new tenants to access Shropshire Council's Discretionary Housing Payment IOHPI servte for rent and de￿511 in advance To tackle any delays with this, we use our DHP bridging lund so that we are able lo pay our landlords on lime whilst we await the funds. This has helped maintain our good working relatsonship wrth our current landlords and is good incentive for prospectNe landlords. The cost-ol-living crisis and hvJher financial commitff￿nlS for landlords generally, have of course had an impact on the availability of affordable housing across the board Alongside our ongoing relabonships with longstanding landlords. we continue lo recwil new ones and build strong relationships with other housing providers. We offer a rent colleelion serv￿, and we work with tenants, The Departrnent of Work and Pensions and the Housing Benefit officè to help ensure that all the correct lom￿ are COMp￿ted, and payments arts made. We See tha provision of decent, aflordable housing as essential for people attempting lo get into work and develop relationships. We are very grateful lo our existing landlords, many of whom have been lettin9 through u5 for several years, and who are willin9 lo gNe people the opportunity lo get a fool on the ladder. The succo5s of our service is demonslraled in that 6 of our tenants have been in properties with Shrewsbury Homes for All landlords for over 15 years. Tenancy support is available to all new tenants but ¢an also be accessed throughout the tenancy if the need arises. This can be accessed formally via our Housing Support service {funded through The National Lottery for which we run a warting listl, or on an adhocldrop-in basis. Our formal housing support and drop-in support services are also available fr)r non-tenanls who have a prevailing housinglhomelessness or tenancy issue. We regard the avaIla￿lIty of our On9￿n9 tenancy support as a vital element in sustaining tenancies and homes. Page S SHREWSBURY MES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Funding Sources During the year In review Shrewsbury Home5 for All's principal funder was Shropshire Council (via the Sustsin Cons0￿.uMl. which ceased in December 2023. The SLFStain Consortium funded housing support work to enable vulnerable people to maintain their tenanaes and Improve theii general wellbeing National Lottery Community funding and our unrestn'cted lunds currenuy enable the charity to undertake a housing support Servi￿ which lulfils our objectives as a ¢hanty supporting those who are in need of housing and tenancy provision. This project is being match funded by SHFA and is currently planned to continue until 31st March 2025. This supFort service has proved to ￿ in high demand. SHFA are able lo begin an application for continued National Lottery Funding from October 2024, with the aim of extending and growing the project from Apnl 2025 onwards Fundraising and non-suslain8ble grant procurement continues lo support the charity, enabling us lo continue our housing and supp)rt services whilst searching for more sustainable funding opportunities. Shrewsbury Homes for All holds cash funds, and the trustees have found savings accounts with the best rates currently avaiL4ble, whilst ￿aVIng funds accessible lo cover reductions in incon￿. RM•r¥ Desonated and general funds are separatety disclosed in note 9 of the accounts and are defined as follows.. General F nds - ￿seNe$ available to spend al the discretion of the tnjstees in furtherance of the charitsble objectives of the Charity. General reserves held at the year*nd were £44,897 12023 £20,352). This represents just over 4 mnlhs running costs of the 23-24 financ￿1 year, but with the ceasing of the Sustain contract figure will be closer lo 6 months running costs lor 24-25. This is in line with the Iruslees, policy lo maintain free reserves be￿een 4 and6 mnlh$ costs. Desi naled F nds Al the end of the financial year. Ihe Iruslees completed a substsnth81 of the deswnaled reserves of the charity to clearly meet our tsvo priorrties ensunng tenanC￿S can te sustained and developing the charity in line with our future plans as shown below. Full detsils are shown In Note 9 of the accounts R•vlew of Ihe year The year shows a Surplus of £34.597{2023 £23,625, def￿rtI. However, this surplus 1$ entirely due to the legacy of £39,996 received in July but exFecled for many years The underfying deficit was £5,399 thi$ being consideraoly reduced by the one-off funding from the National Lottery Cost of Living Grant of £20,272 given lo organisalion5 to address the addit¢onal demand and rising costs caused by the cost-of4iving crisis. The ongoing underlying deficit reflects the gap befvfftn sustainable income and the running costs of the charity. The year in review was the first of a tsvo-year National Lottery fvnded housing support project which currently finishes in March 2025". this proje¢l requires 50".50 mal¢h funding and the expectation of the legacy Income at some wnl enabled us to take advantage of this opportunity We are extremety grateful to our past Chairman Christine Allen for Including us in her will. Our cosls have been reduced to the minimum compatible with maintaining high standards and Ihe trustees have decided lo use the reserves built up over prevK)us years to sustain the charity dunng the current IvJht funding ￿ndibonS. We are also most grateful for the kind donat￿nS through CAF t)onale, via our website. generous grants trom The Blakemore Foundation (£1001. The Shrewsbury Freemasons (£10001. and the continuing support from the Millichope Foundation1£3,OOOpal. Shrewsbury Hon*s for All meels the definition of a public benefit entity under FRS 102. Page 6 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 1 MARCH 2024 Challenges Our sector is currently facing ChaI￿ngeS In provisions and funding. whth is reflected on a national scale Requirements for landlord compliance is be￿rnIng stricter. resulting in many landlords leaving the business. There is also a strain on social housing slock, with waiting lists stretching Intr) years to secure an appropriate property. This is having an impact on afft)rdable housing and availability of housing. meaning an increase lo those reaching out lo our service Funding streams from stslutory t￿)d￿ are also kssening. Once fvlly funded, support and assistance services are now in Jeopardy due to the uncertainty of sustsinable Income. Non monitored grants have also become harder lo attain as there is more compelilThi befvfftn those applying. and ￿$$ provision now that COVID 19 grants have ¢eased. On a national scale, the cost•of-living crisis, high private rental pnces, lack of s(￿la1 housing and higher fvel costs are making affordable housing optsons scarce. Our team Wofks hard to provide benefit and grant informalwi lo cS*nts and tenants, helping to boost people's income and maximise thgir finances. The main source of funding (65%) from Shropshire cou￿41. as part of the Sustain Consortium. ended in De¢ember 2023. This meant a loss of N¥0 valued stsff ￿Mbers, who were TUPE'd over lo the tender winneTS STAR Housing, who now carry out the statutory homelessness prevention work in the county. This is a loss across the board for the ¢harity in both resources and financially. Wthout a reduction in enquirie5 and requests for support from the public and stakeholders, this equates to a continued busy p8ri0d for SHFA. We have now idenbfRd a gap of general needs supwrt Pfovision in the county. which is evident from the nature of support sought from our charity. This is a gap in proviS￿n which we will hope lo fill with subsequent funding bids and grant appltatsons in relatK)n lo our growing Irwe and signwsling support. Futurn pl•n8 Our future plans consist of expanding on our wpular Nati¢)nal Lottery fvnded housing support serV￿e. This application can commence from October 2024 and will look lo expand on the grant request and duration of award, with match fvnding from a legacy we receNed in July 2024 Since the disbandment of the Sustain Consortsum. SHFA have sought to offer a$5iStance lo all thos& who contact us for support, signposting or advice. This Tnage and Signposting 5ervic& has developed organically due lo the loss of general needs provision across the county. ShropshiTe Council is now in a posi1￿n where they have had lo reduce funding to only meel statutory obli9alions. general needs support falls outsicle this mil. SHFA now plan lo tske a n￿re focused and targeted approach to grow and seek funding for this much needed general needs service going forwards. We are committed to contsnue working in partnership wrth statutory, housing and voluntary organisalions lo serve our clients, and explore any meaningfvl Iniliatsves we are party to. such as Homelessness Forums, LGBTQ netsvorking events and liaison with a local advocacy charity. Our work wrth landbrds Is a￿VaYS ongoing as we continue to recruit new Individuals willing to to people on benefits and low incomes and lo support those who al￿adY do so. The many changes to the benefi'ts system are confusing lo many, not only landlords. and we will ¢ontinue to support them as the requirements continue lo change and evolve. Page 7 SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. RESPONSIBILITY STATEMENT The trustees (who are also the directors of Shrewsbury Homes For Al for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountsng Practice) including Financial Reporting Standard 102 'Tr Financial Reporting Standard applicable in the UK and Republic of Ireland". Company law requires the truslees to p￿pare financial statements for each financial year whi¢h give a truè 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 charitabk company for that period. In preparing those financBI state￿nts, the trustees are required lo select suitable accounting polic*s and then apply them consisten￿Y', observe the methods and principles in the Chanty SORP". make judgements and estimates that are reasonable and prudent". prepare the financial statements on the going ccrtem basis unless it is inappropriate lo presume that the charitable company will continue in business. The trustees are ￿spOnsIble for keeping propef accounting records which disclose with reasonable accuracy at any time the financial position of the chantable company and lo enable them lo ensure that the financial statements comply with the CompanEs Act 20C6. They afe also responsib￿ for safeguarding the assets of the chanlable company and hence for taking reasonable steps for th? prevenlion and detection of fraud and othèr Irregularities. Approved by order of the board of Injstees on ............ ..... ... .... . and signed on its behalf by.. rs C Crackett - Trustee Page 8 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHREWSBURY HOMES FOR ALL Indep•nd•nt examinerfs report to the trustees of Shrewsbury Homes For All (Ihe Company'l I report to the charity trustees on ry examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basls of report As the charity's trustees of the Company land also its directors for the purposes of Company lawl you are responsible for the preparatk)n of the a¢counts in ￿OrdanCe with the requirements of the Companies Acl 20061 the 2006 A¢fl. Having satisfied ryself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinakn'on, I report In respect of my examination of your charity's accounts as carrth out under Section 145 of the Charities Act 2011 I'lfie 2011 Acri. In carrying out my examination I have followed the Directions given by the Chanty Commission Ljnder seCt￿n 145151 Ibl of the 2011 Act. Indopendent examinerfs Statomont I have completed my examination. I confirm that no matters have CO￿ to my attent￿rt in connectson with the examination giving me cause to bel￿e. accounting records were nol kept in respecl of the Company as ￿Uired by Section 386 of the 2006 Act., or the ￿COUnt$ do not accord with those records,. or the accounts do not comply wrth the accounting requireffents of Section 396 of the 2006 Act other than any requirernent that the accounls give a true and fair view which is not a matter considered as part ol an Independent exafninalion.. or the a¢counl$ have not been prepared in accordance wth the methods and principles of the Ststemenl of Recommended Pract￿8 for accounting arsd reporkn.ng by charities (applicable to charities preparing their account5 in accordance with the Finanual Reporting Standard appluble in the UK and Republic of Ireland IFRS 10211 I have no concerns and have come across no other matters in connectton with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. C Moewn-wlliams Bsc FCA TCA Ishrewsbury) LLP Third Floor 21 Sl Mary's Street Shrewsbury Shropshire SY11ED Date.. Page 9 SHREWSBURY HOMES FOR ALL STA TEMENT OF FINANCIAL ACTIVITIE INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 PIARCH 2024 2024 Total funds 2023 Total funds Unrestrthd RestrKted fvnd$ fund Notes INCOME AND ENOOWMENTS FROM Donations and legacies 44,249 44,249 1,841 Charltable actlvltle8 Charitable 75,258 25,119 100.377 72,000 Investment incory 2,756 2.756 Total 122.263 147.382 74,995 EXPENDITURE ON Charitable a¢livltl Direct charitable expense 89.946 22,839 112,785 98,620 NET INCOMEI(EXPENDITURE) 32,317 2,280 34.597 123,6251 RECONCILIATION OF FUNDS Total funds brought forward 127,076 127,076 150,701 TOTAL FUNDS CARRIED FORWARD 159.393 2,280 161 673 127,076 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 10 SHREWSBURY HOMES FOR ALL STATEMENT OF FINANCIAL POSITION 31 MARCH 2024 2024 Total funds 2023 Total fvnds Unrestricted Restricted fvnds nd Notes CURRENT ASSETS Debtor5 Cash at bank 40,907 141,335 40,907 143,615 2,280 154.195 182,242 2,280 184,522 154,195 CREDITORS Amounts falling due within one year (18.935) (18.935) 122,1971 NET CURRENT ASSETS 163.307 2.280 165 587 131.998 TOTAL ASSETS LESS CURRENT LIABILITIES 163.307 2.280 165,587 131.998 PROVISIONS FOR LIABILITIES 13.914) 13,9141 14,9221 NET ASSETS 159.393 161.673 127,076 FUNDS Unrestricted funds ReStr￿ted funds 159,393 2,280 127,076 TOTAL FUNDS 161673 127 076 The charitable company is entiued to exemptson from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The memters have not required the company to obtain an audrt of its financBI sialements for the year ended 31 March 2024 in accordance wrth Section 476 of the Companies Act 20(￿. The Iruslees ackn¢)wledge Iheir responsibl1rt￿ lor lal ensuring that the charitable company keeps accounting re(x)Tds that comply wrth Sections 386 and 387 of the Companies Act 20(6 and Ibl prepanng financial Statements wh￿h give a true and fair of the state of affairs of the charitable company as al the end of each financial year and of Ils surplus or def￿11 for each financial year in accordance wrth the requirements of SeCt￿ns 394 and 395 and whth otherwise wmply with the requirements of the Companies Act 2006 relabng to financial staleff*nts. so far as applicable to the charitable company. These financial statements have been prepared in acctydance wrth the provisions applicable to charitable companies subject lo the small companies regime_ The financial slatewts We￿ approved by the Board of Trustees and authorised for issue on and were signed on its behaff by.. Mrs C Crackett- Trustee The notes fomi part of these finanaal staterr*nts Page 11 SHREWSBURY HOME FOR ALL NOTES TO THE FINANCIAL STATEMENTS R THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial slatem•nts The financial statements of the charitable company. which is a publr benefit entity under FRS 102. have been prepared in accordance with Ihe Chant￿S SORP {FRS 1021 'Accounting and Reportr'ng by Charities.. Statement of ReCom￿nded Pra¢ts"ce applicable lo charitEs preparing their accounts In accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 20(￿. The financial ststements have been prepared under the historical cost convention. Flnanti•l reportrng standard 102 - reduced dIscl￿￿re •xemptlons The charitable company has taken advantage of the following disclosure exemptions in preparing these financial stalemenls. as pemiitted by FRS 102 'The FInar￿la1 Reporting Standard applicable in the UK and Republic of Ireland.: the requirements of Section 7 Statement of Cash Flows: the requirement of paragraph 3 17ldl', the requirements of paragraphs 11.42. 11.44, 11.45, 11.47, 11.48Ial{iiil, 11.48(a}liv), 11.48lbl and 11.48lcl', the requirements of paragraphs 12.26, 12 27, 12.29lal. 12.29lbl and 12 29A'. the requirement of paragraph 33.7. In¢orn• All income is recognised in the Slateff*nl of Financial A¢bvilEs once the charity has entillemenl to the funds, il Is probable that the income will be received and the arrounl can be measured reliably The reco9nrtion ol incorre from legac￿$ is dependent on establishing entitlement, the probability of ceipl and the ability to estimate with sufficient accuracy the amount receivable. Evidence of enlillemenl lo a legacy exists when the Charty has sufficient evidence that a gift has been left lo them {Ihrough knowledge of the existence of a valid will and the death of the benelaclorl and the executor is satisfied that the property In quesb.on will not be required to satisfy claims in the estate. Receipt of a legacy musl be recognised when il is probable that il will be received and the fair value of the amount receivable, which will 9enerally be the expected cash amunt to be dislributed to the Chanty, can be reliably measured. Expondlturo LBbilrties are recognised as expendrture as soon as there is a ￿gaI or conslw¢live oblNJalion committing the charity to that expenditure. rt is probable that a transfer of e￿nOmiC benefits will be required in settlement and the amount of the obligation can be measured reliably Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to tho Category. whe￿ costs cannot be directly attnbuled to particular headings they have been alkKaled to ath'vilies on a basis consistent with the use of resources. Tax•tlon The Charity is exeirpt from corporats.on tax on its charita￿e activit￿. Fund accountlng Unreslri¢ted funds can be used in accordance wrth the charitable objectives al the dis¢￿tIOn of the trustees. Restrr'cted fvnds can onty be used for particular restricted purposes within the objects of the charity. Reslrictsons arrse when s￿ffied by the donor or when fvnds are raised for particular restricted purposes. Further explanatron of the nature and purpose of each fvnd included in the notes lo the financial statements. Page 12 continued... HREWSBURY HOMES FOR A NOTES TO THE FINANCIAL STATEMENTS . contln FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Pension costs and other post4etiremenl ￿n¢fftts The charitable company operates a defined contributN)n pension Scheme. Contributions payable lo the charitable company's pension scheme are Charged lo the Statement of Financial Activities in the period to which they relale.see further detail in note 11. Cash at bank and in hand Cash al bank and in hand includes cash and short-lem highly liquid Investments with a short maturity of three mnths or less from the date of acquisib.on or openirsg of the depw't or similar account. Dèbtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amunl prepaid net of any trade discounts due. Flnan¢lal In•trum•nts The ¢harity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic finanual inStru￿nts are initially recognised al lransxb.on value and subsequently measured al their settlement value. INVESTMENT INCOME 2024 2023 Deposit account interest 2.756 1,154 INCOME FROM CHARITABLE ACTNITIES 2024 2023 livity Chantoble Charitable Charitable Charitable Charitab L8ndlord contributions Sustain Consortium Millichope FOundat￿n Grants Other 13,717 36,8S4 3,000 46,492 314 14,862 49,138 3,000 100,377 Grants recewed, included in the above, s￿ a$ follows. 2024 2023 The National Lottery Community Fund The National Lottery Cosl of Livin9 Grant Other smam grants 25.119 20,273 1,100 46,492 Page 13 continued... SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no tnjslees, remuneration or other benefits for the year eThJed 31 March 2024 nor for the year ended 31 March 2023. Trn$t￿8. exponsos There w8re no trustees, expenses paKi for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 2024 2023 Wages and salar Other ￿n$10ft costs 98,501 1,1211 90,764 97.380 85.590 The average mnlhty number of employees during the year was as follows". 2024 2023 General activities No employees received emoluments in excess of £60.000. The average number of full ts'me equr￿a￿nt employees during the year was 4.12023.. 41 DEBTORS: APAOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 40,907 CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2024 2023 Trade creditors Social secunty and other laxes Tenant loan fund Client funds - ongoing rent accounts Client funds held for bonds Accruals 420 655 6,647 1,559 8.394 107 5,605 5,166 9,451 22,197 Shrewsbury Homes for All receives housing benefft and the shortfall due from clients at various limes during the month. The rmney is onty paKI to the kqndlord when the rent falls due, so at the year end there is an amount held ready to do this This arr￿Int varies substantially day to day land so year to yearl due lo tsming Issues. Page 14 continued... SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS- ¢ontln FOR THE YEAR ENDED 31 MARCH 2024 PROVISIONS FOR LIA81LmES 2024 2023 Pension debt provision 3.914 4,922 The provision relates to the ests'maled pension debt as sel out in note 10. MOVEMENT IN FUNDS Net vement in funds Transfers etsveen nds At 31.3.24 Al 1.4.23 Unrnstricted funds General fund 20,352 32,317 (7,772 44.897 Desi naled funds Staffing reseThe Business Continuty Fund Bonds Pension Debt The National Lottery Year 2 Match Funding Business Development Fund 35,939 36,120 29.742 4,923 5.195 (36.120 (15.294 11,009 25,000 41,134 14.448 3,914 25,000 127,078 32,317 159.393 Re•trlct•d funds The National Lottery 2.280 2,280 TOTAL FUNDS 127.076 161,673 Net movement in funds, included in the above are as follvws". Incomi resources Resources expended Movement in fijnds Unrestrlcted fund• Gerwal fund 122,263 {89,9461 32.317 R•stricted lunds The National Lottery 25,119 (22.8391 2.280 TOTAL FUNDS 147,382 112,785} 34.597 Page 15 conlinued.. SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS - contlnuod FOR THE YEAR ENDED 31 MARCH 2024 IKIVEIAENT IN FUNDS- contlnued Comparatfv•s for movement In funds Net rf)vemenl in funds Transfers befv￿en fvnds At 31.3.23 At 1.4.22 Unre$trlcted funds General funij 48.91)0 123,6251 14,9231 20.352 Desi nated fund Staffing reserye 8Ltsine$5 C¢Jntinuity Fund Bonds Pension Debt 35.939 36,120 29,742 35,939 36,120 29,742 4,923 150,701 23.6251 127 076 TOTAL FUNDS 150,701 23,6251 127,076 Comparative net rTr)Veff￿nt in funds, included in the above affj as follows.. Incoming resources Resource$ Movement expended in fvnds unr88tr1ct￿ funds General fund 74.995 198.6201 123,6251 TOTAL FUNDS 74 995 98 6201 23,6251 DMign•ted fvnd• The trustee5 have designated the lunds of the charity to ensure that we continue to me&t of overall aims and objective5, In detsil they are.. Stafflng Roser¥fr- in the event of the win¢Jing up of the chanty. we not only need to allow for redundancy Costs bul also 6 nTh)nlhs runnin9 to ensure that all ronl accounts are transferred elsewhere so that no tenant bses their home Bonds we hold clients. funds for bonds issued over many years and have also made a provision so that more can be issued rf required. The demand for bonds has fallen considerably due lo the availability of discretionary housing payments, so the provision has been red￿￿d P•nslon Debt- Ihts figure Ls provided by our pension provider National Lottoy Year 2 Match Funding - our Iwo year project from the lottery requires 50.$0 match funding, so this fund has been designated to ensure the success of the project Business Develowtnt Fund - the trustees plan to seek further funding from the lottery to continue our successful project of housing 5UPPOrt and also lo develop our triage and gignposting servi￿. Both these developments will require lunding in part from our reserves. 8usinoss Contlnuity Fund - The Iruslees reviewed and released the Business Continuity Reserve, which had been ¢akulaled as one month's rent for all our fent accounts since the move to universal credit from housjng benefit has made us less Vulnerab￿ to an error in a single large payment each mnlh. Page 16 continued... SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS- contlnued Restrlcted fund8 The National Lottery com￿¥Jnty Fund represents restrthd match-funded grant fijnding TeceNed during the year for providing formal tenancy and housing support. 10. EMPLOYEE BENEFIT OBLIGATIONS Shrewsbury Homes for All participates in the Pensions. Trusl Grt)wth Pkgn llhe plan"). The plan is funded and is not contracted out ol the state scheme. As at the balance sheel dale there were six active n*mbèrs of the Ptan employed by Shrewsbury Homes for All. Shrewsbury Homes for All continues to offer membership of the Plan to il's employees. although from October 2013 on a defined contnbulion basis. It is not possible in the normal course of events lo Idenirfy on a reasonable and consislenl basis, the share of the undedying assets and liabilitses belonging to individual participating employers. The Plan is a multi*mployer scheme. where the assels are co-mingled for investments purposes, and benefits are paid out of the Plan's lolal assets, Ac¢ordingty, due lo the nature of the Plan. the accountin9 charge lor the year under FRS 102 and SORP 2015 repTe5ents the employer contributions payable. The contribution for the year was £6,19012023. £5.731) The lalesl full valu*ion of the PLqn as at 30 September 2017 was perfo￿ed by a professionally qualifi'ed Actuary using the Projected Unil Method. The valuation revealed a sI￿rtIall of assets compared with the value of I￿￿'1111e$ of £131.$ million. Shrewsbury Homes for All paid conlributions al the rate of 6.8% 12023.. 6.2%) duiing the accounting period. Members paid contfibulions at the rate of 3.2%12023.' 3.8%) during the accounting period. When an employer withdraws from a mulliomployef defined benefit pension scheme which is in deficit, the employer is required by law to pay it's share of the deficit. calculated on a siatulory basis Iknown as the buy-out basis). The calculation basis that applies lo the Growth Plan was a￿nded due lo a change in the definrtKin of money purchase contained in the Pensions Act 2011, but the regulations that determine exactly how the ¢hange will apply in Pract￿ are still awaited. As the law stands, il is not yet clear whether the stalulory calculation should Include or exclude Series 3 liabilrties. However, based upon currenl advice, the most likely interpretabon Is that Series 3 liabilitses will have to be included in the calculation of an empwerfs debt on withdrawal. The cost of wrthdrawal to Shrewsbury Horres for All as at 30 September 2023 Ikqlest valuation provided by the Pensions Trust) would be £3.91412023. valuation al 30 Septemt¢r 2022.. £4.9221. The Trustees consKler this as a creditor due to the indicabve removal of the Sustain funding. 11. OTHER FINANCIAL COMMrrMENTS Guarantees: Shrewsbury Homes for All rnakes a bond pledge lo landlords Wh￿ the lenant pays towards their tenancy. This pledge Is payable to Ihe landlord at the end of the tenancy in circumstances of damage caused by the tenant or non-payment of rent. The Twstees have authorised pledges of £20K in addition lo the monies received from tenants resutting in total pledged values of £31k al the year end 12023.. £31 Kl. The rnon￿ received from tenants are due back to the tenant if the tenancy finishes without liability, and are due to the landlord In case of non-payment of rent or damage.The bond pledges made by Shrew5bury Homes for All are released back to the charty for reause if the tenancy ends without liability. Page 17 conty'nued... SHREWSBURY HOMES FOR ALL TES TO THE FINANCIAL STATEMENTS - continuèd FOR THE YEAR ENDED 31 MARCH 2024 12. RELATED PARTY DISCLOSURES One of the cu￿ent Trustees 12023. one) ￿ also a landh)rd whose homes are rented by Shrewsbury Homes for All's tenants. Whilst the legal agreeffent is directly betsveen the landlord and the tenants, Shrewsbury Hornes for All do act as an IntemEdiary in the payments of rents. The value of these payff¢nls for the current financial year was £12.890 for 3 propeths12023'. £14,700 for 3 properbe$l. All landlords a￿ asked to voluntarity donate a 5% administralton contributK>n from the gross nTh)nthly rent to SUPF(Jrt the work of Shrewsbury Horres for All. Oonab'ons received from Trustees during the year lotalled £30012023.. £3501. Page 18