REGISTERED COMPANY NUMBER: 07492338 (England and Wales) REGISTERED CHARITY NUMBER.. 1141044 HR RY RALL COMPANY UMITED BY GUARANTEE TRU TEES. REPO TAND NAUDITED FINANCIAL TATEMENT TH YEAR NDE 1 MARCH 2
HREWSBURY HOMES FOR ALL CONTENTS F THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2025 Pag• Reference and Administrative Detalls Tw$teos' Report Independent ExamSnorfs Report Statem•nt of Flnancial Actlviti 10 Stat6m¢Trt of Flnanclal Posltlon 11 Nolos to the Financlal Statsments 12 10 18
SHREWSBURY HOMES FOR ALL REFERENCE AND ADMINISTRATIVE DETAILS RTHEY R ENDED 1 MARCH 2025 TRUSTEES Mrs C Crackett Mr A D Marshall Mr B Parr MrA T Lines Mr E A Potter COMPANY SECRETARY Mrs C Crackett REGISTERED OFFICE The Roy Fletcher Centfe 12- 17 Cross Hill Sljrewsbury SY1 1JE REGISTERED COMPANY NUMBER 07492338 (England and Wales) REGISTERED CHARiri NUMBER 1141044 INDEPENDENT EXAMINER TCA {Shrewsburyl LLP Third Fl¢Jor 21 St Mary's Street Shrewsbury ShTop$hire SY1 1ED CHIEF OFFICER Mrs Joanne Gougn Page I
SHREWS8URY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 202 The ITUStees who are also director5 of the charty for the purposes of the Companies Act 2006, present Iheii report with the fiTranco1 statements of the charity for the year ended 31 Maich 2025. The Iruslees have adopted the provisions of Accounting and Reporting by Charrties Statement of Recommende(t Practice applicable to charrties preparing their accounts In accordance with the Financsal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectNe 1 January 20191. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitutlon Shrewsbury Homes for All %vas established as a company limited by guarantee (Compan5 House number 74923381 and re9islered charty Ichanty Commission number 11410441 in 2011 A charity with the same name was established in 1993 as an untncorporaled body and all the assets of Ihis first ch?rty were Iranslèrred to this Incc¥porated charity on 1 April 2011. The charty 13 constituted by a set ol Memorandum and Arttth ol Assctiion dated 10th January 2011, revised on 10 November 2021 lo includè provision5 lor remote and hybrid meetings and de¢i5i)n making by email. Gov•rnanc• The management of Shrewsbury Homes fof All is the responsibility of the trustees who Provide leadership and set the strategic objectives of the eharily. Including the preparation of the business plan and annual budgets, and monrtor progress wrth regaid lo delNery The pnncipal business of the eharty is tho provision of independent hou$ing adv, the letting of propertie$ and collection of rents on behaw of private landlords and the provision of support setvices lo thos8 who are homeless, Inadequalely housed or vulnerable. The Shfew3bury H¢rn for All Iruslees are elected and ¢o.opled under Ihe terms of the Memorandum and Articles of Association. Shrewsbury Homes lor All strives to ensL¢re that ils trustees are represenlalive of the local community. Current Irustees include a local lanillord. Trustees are ewed al the Annuèl General Meeting IAGMI by rolalion and may be c¢>opled btheen AGMS. PolScles adopted for the inductlon and tralnlng of Tru81••B All new IrLslè8s a eneouraged lo familianse themselves with the practical work of the charrty. In addrtion. they a provided wrth an induction pack of guidance notes detailing their responsibilities and providing them with the main documents which set out the opefalional framework for the charity. Including." - Memorandum and Artle5 of AssLxiatKsn Latest published Financial Slalemenl8 and Annual Report In addrtion. Iruslees are encouraged lo attend any available training. and lake an active role in the organisalion wherever possible. Organisatlonal structure and decision making The day to day running of the eharty ts delegated lo the Chief Officer. Decisions on employment of staff are taken by the Iruslees in consultation WTth the Chief Oftei. Polw and financial decisigns are made by the Iruslees in Consultatn wrth the Chief Officer Page 2
SHREWSBURY HOME FOR AL TRUSTEES. REPORT R THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have assessed the Major risks to which the charrty Is exposed on an ongoing basis. in particular those related lo "ts operations and finances The major nsk is the current lack of sustsinable funding following the loss of the Susiain Consortium. The Iwslees have ensured thal the accounts contain suffscient reserves lo cover the costs associated wrth the closure of the charity including staff redundants and withdrawal from the pension scheme but also femain committed to looking foi alternative sources of future funding through other available grant streams. O&JECnVES AND ACTIVITIES Poll¢ie8 and objectives The principal object of the ehafty as staled in the artleS is 'To lIeVe those ill need of assistance, in particular bul not exclusively Peop who are homeless, in housing need or who need help lo avoid homelessness Strategies and policies are a9reed and Impkmented In order to achieve this object. The fange of services provided by Shrewsbury Homes for Al link together lo re(luce homelessness in the Shrewsbury area and improve the qualrty of lrfe for all who conlact the charity. Actlvi11o¥ The main aclivitses of thg charty continue to be.. Advlce Ser¥le¢s.' - Providing independent housing advtce and support seryices Finding accommodation using our register of prwate landlords Helping lo complete housing and othèr benefit fomis General triage and signposting - A¢ting as advocate on beh8M ol clients wrth larKllord8. Utilities. statLrtory bOdS and others. Flnanclal Help.. Rent account scheme - colling the foLJr weekly housing benefit payments or universal credrt housing element and shortfall from the lenanl and paying the rent to the landlord monthly. Discretionary Housing Payment IDHPI bridging scheme - If eligible. we can piovide a lasler payment of DHP monies lo landlords lo avoid lengthy delays. Bond scheme- we can gU8ranlee up lo one month's rent as deposrt for eI,gIb applicants Maximisalion of income - Support for tenants and clients to appty for appliable benefits. grants or fundin9. Support Servicgs Al the time of wrrting, we are running an in4emand tenancy and housing support service. This was funded for two years 23-25 by The Natnal Lottery Communrty Fund wilh match funding SHFA reserves. This service has proved a popular, well needed serye and focuses on supporting clients who are hOmesS or al risk of h¢)melessness. and those Inadequately housed Therefore. the trustees have agreed wrth the Lottery to use the underspend Ishown as restncted SerVes1 to continue the serv¢e with additional funding coming from unrestricted reserves, whilst seeking lurther funding. Ad-hoc support - We also offef daily lehOneler0nI¢ dTOP-in support, to help clients wrth one-off needs and a triage and signposting service. This is administered by our team member who providers a first point of contact lor all those who approach our service. Pa3e 3
HREWSBURY HOMES FOR ALL TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES These support activities achiwe our objects in the followlng ways: The limety provisKJn of Independent housing advi to all those womed about the possibility of homelessness and those who a horne$$ or inadequatety housèd ensures that clnIS are empowe¥ed lo make the best possible decisions. Encouraging landlords lo to tenants claiming benefrts and supporting them lo do so effectivety. This increoses the supply ol properties for people receiving benefrts thus improving the chances of those in housing need gaining access lo surtable housing. Running rent accounls for tenants, idenlfying any mistakes in hoijsing benefit or universal ¢redf(. thus lessening rent arrears and helping lo ensurn tenants remain housetl. Our Bond and DHP bndging scheme sJpports Ihose wrthoul funds to access both a month's rant and deposit in advance Assistance is given lo acces5 these schemes and In tum liae wrth lan(Ilords - wilhoul such support many clients woukl not be able lo start renting. Oui support seThic8s ensure that lenants have maximi¥ed thwr Income by claiming all appropriate benefits therefore leaving them MO able lo meet their financol comrnilmenls and being able lo cope with the diflicullies that life presents Wrthout thi5 suppon, many ol our most Vulnerab elienls would lose their tenancies and become homeless. Volunteor S•rvlc•8 Shrewybury Homes for All whilsl not overly reliant on the use of volunteers is supported by individuals who undertake adminisiralive funelions and provide IT support Publlc Beneflt All Shrewsbury Homes for All activils have been undertaken wrth reference lo the Charity Commission guidance on publ benefit and are available to all. Shrewsbury Homes for All operates within an Equ81ty and Diversity policy. Llalson wlth other Organisatlon8 Shrewsbury Homes for All is in¥ofved in initiatives lo cunbat the problem of homelessness in the local arga, and is repiesented on.. - The Rough Sthper Coordination con5ull*ions - The Shropshire Council Housing OplKJns referral pathway - The ShropShi Homekssness Forum Shrewsbury Homes for All Iratses wlh. and relVeS referrals from. other >Jencies including.. Shropshire Council Shropshire Homepo¥nt Department of Vvork arKI Pensions A4U ial Prescribing Teams Probalion ServKe - IxionlYSS The Shrewsbury Ark Communrty Mental Health Team Page 4
SHREWSBURY HOMES FOR ALL TRUSTEES. REPORT YEAR ENDE 1 MARC FOR TH 2025 ACHIEVEMENTS AND PERFORIAANCE New clients and Inf(ial contact Service Users housed.. Number of Rent accounts.. 423 47 Tenancies maintained for. over 1 yèar over 5 years over 10 years over 15 years over 20 years 17 10 We see the length of these tenancies as evidence that. thrtyjgh our rent account ano support schemes. we are helping our ¢InIS lo achieve a stable lifestyle. AllhoLtgh we have not needed to ulilisg our bond guarantee scheme during the year, we havg helped tenants and clnIS lo appty for councfrl fLbnded Discretionary Housing Payments to secure tenancies. We have managed an average of £24.000 In rert payments pef month throLbgh our rent accounts and we have 28 landlords letting through us. We have offered signposting. support, advice and drop-in sessions by tephone. electronic means and face to face meetings. These 659 sessN)ns covered lomi filling, online benefit applications. support accessing grants and services and help wrth making Homepoini applications and bids. During the year we also provided a formal tenancy support service to a total of 17 people. This support can last for many months depending on the needs of the elient." we are Increasingly supporting those with complex needs who woukl have preV81Y had dedicated swial work support. Universal Credit is the primary benelrt accessèd in Shropshire, while those on legacy benefits are gradualty being transferred over lo thL8 System We have supported new tenants lo access Shropshire Council's Discretionary Housing Payment IDHPI Serv lor rent and deposit in advance. To tackle any delays wrth this. we use our DHP bridging lund so that we are able lo pay our landk)rds on time whilst we awart the funds. This ha5 helped maintain our gocrfj working relationship with our current landlords and Is a good Incentive lor prospective landlords. The cosl-ol-living Crisis and higher financial commitments for landlofds 9enefally, have of course had an Impact on the availability ol affordable housing across the board. Abngside our ongoing relationships wrth longslending landlords. we continue lo recruit new ones and build slrong rekAlionships with other housing providers. We offer a rent collection service. and we work wrth lenanls. The Department of Work and Pensions and the Housing Benefrt office lo help ensure that all the correct fofms are completed. and paymen15 are made We see the provisw of decent. affordable housin9 as essenlk41 for people attempting to gel Into work and develop relationships We are very grateful to our existing landlords. many of whom have been lelling through u5 for several years. and who are willing to give people the opportunity to gel a fool on the ladder. The success ol our service Is demonstrated in that 8 of otsr tenants have been in propgrties with Shrewsbury Homes for All landlords for over 15 years and 2 for over 20 years. Tenancy support is available lo all new tenants but can olso be accessed throughout the tenancy rf the need arises. This can be accessed fomially via our Housing Support serVe for which we rLJn a wailing lisll, or on an ad h¢)cldrop-In basis. Our formal housing support and drcp-in support serVIS are also available for non-tenants who have a prevailing housinhOMelessnesS or tenancy issue. We regard the availability ol our ongoing tenancy support as a Vbtal element Trn sustaining lenancw and homes. Page S
HREWSBURY HOMES FOR ALL TRUSTEES. REPORT R THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Financial revlew of tho year The year shows a surplus of £97.704 12024 £34.597. surplus). However. this surplLJS Is entI[Y due to one-off Income. We received another payment on 8ecount from the most generous legacy from our former Chaiman and also a totally unexpected extremety generous donation on the last day of th¢ year. These payments Iransl(ymed an expected deficrt of approx. £30.000 lo the large surplus. Income during the year included the second (finall year of fvnding frryr the National Lottery Communrty Fund for our Housing ¥upport service. We were encouraged lo apply for continuation funding from the National Lottery but have $0 far not been successful. The Iruslees have decided lo use the Unfrthd reserves rfjsuliing lo $ustain the Housing Support seNice whilst we $earch for further funding. Working with the Chief Officer. the trustees will tIfiue to seek fvnding from a wide range of possible sources, sustainable. as opposed to one-off. fijnding remains hard to find in th8 current climate and so we onlinue to consider all options. Our costs have been reduced lo the minimum Compatib wrth mainraining hyh standards and the Iruslees hove agreed to use reserves to 5UStain our 59rvKes for the benefrt of those who call upon us, and also lo relain experneed Staff so that we Can maintain the qualty of our provtsion when further funding is received. We are also most gralelul for the kind donations through CAF Donate. via our website. along with onwff donations (£4921, generous grants from RAF Shawbury (£2 4431. and the continuing support from the Millichope FoundalM)n1£3,OOOpal. Shrewsbury Homes for All meety the definitTr of a publ benefft enlity under FRS 102. R•8eryes Desonaled and general funds are separalety discbsed in note 9 of the accounts and a defined as follows.. un reseNes available lo spend at the discretion of the tiustges in furtherance of the ¢harf(able objectives of the Charity. These were substsnlially Increased on the last day of the financial year when we received an unexpected donation. General reserves held at the yearond were £116.397 {2024.. £44.8971 Desi nal d Fun 11 is the trustees. policy lo maintain SuffnI designated reserves lo cover all cornmitments in the event ol a signrfTrcanl reduction In actwity or winding up. The amount hekf is revwed annually due lo the constantly changing funding regimes and in the light of the risk management pr¢xess. The running of rent aecounls and holding of bonds for tenants requires a ¢onsTrdeyab amount of money lo be ring-fence¢J lo ensure all commrtmenls can be met. Furthemiore. the reserves lo cover the winding up of the eharity needed lo be sufficient to cover up lo six months, running costs so that all the open rent aecounls and bonds could be successfulty transferred to another organisatn wrthoul 6ndangering any of the tenanc9 and ensuring a goc*J SerVe for both our Lqndlords and lenanls. The Iruslees have designated £50.000 for the conlinyatk)n of the Housing Supwt SeNice (prevI¢S match funded by the National Lottery) to ensure that this can ntInue until further funding is secured. £30.000 has been designated as a Business Development Fund and the trustees have embarked on a process io delermine Ihe best way fo&waFd for the cha¥rty wrth a vithv to using these funds as seed money for any new difection we need lo take. Page 6
SHREWSB RY HOMES FOR ALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Challenggs Our sector is currenlty IIng chalknges in prOvisn$ and fLJnding, which refiected on a national scale Requirements for landlord compliance is beCc1ng stricter, especially wrth the potential introduction of The Renterfs Rights Bill planned for Winter 2025 This is resulting in many landlords 8Ving the business. There is also a strain on social housing stock, wrth warting lists stretching into years to secure an appropriate property. This Is having an impact on affordabK8 I)SIng and availability of housing. meaning an increase to those reaching out lo our seryice. Funding streams from slalulory bodies afe also lessening Once fulty funded, support and assistance serve5 are now In jeopardy due to the uncertainty of sustainable income Non monitored grants have also become harder lo attain as there is more ¢ompelrtKm btheen those applying. and provision now Ihal Cosl-of-Living grants have decreased. On a national scale. the continued cosl-of-livirrfJ crisis. benefrt migration issues, high prwale rental prw and lack of 50eial housing are making affordab housing options scarce. Our team works hard lo provide benefrt and grant information to clients and tenants, helping lo boost pecple's income and maximise their finances. Futurn plans Our future plans consist of attaining funding for our popular housing support seNice. Grant and funding applications may consider the possibility ol a partnership bid lo The National Lottery, with relevant Ial providers con¢emed with advocacy and mental wellbeing. Noticing a gap in provision, SHFA have sought to offer assistance to all those who contact us for support, signposting or advice. This Triag? and Signposting service has developed OrganallY aue lo the loss Of general needs provision aCTOSS the county. Shropshife Council Is now in a posrtion where they have had to reduce funding lo only meet slalulory obligations. general needs svpport f811s outside this remrt. SHFA gained $¢)me addrtnal NatKJnal Lottery ft*nding, Ircfn the Awards for All funding stream. to provide £20.000 lo continue this work lor 2 yeaTS. This general needs provish)n Is s¢Ththiiig SHFA will consider expanding upon il financially viable. We are committed lo continue working in inl¢)rnal partnership wrth stalulory. housing and voluntary organisations lo seNe QLsr elienls, and explore any meanlngful inilialives we are poty to, such as Homelessness Forums, LGBTQ and Veteran netwothing evonls and liaison with a local a¢fvocacy charity. Our work wilh18ndbrds Is aayS ongoing as we continue lo recrurt new indivK1uals willing lo let to people on benefits and low incomes and to support those who already do so. The many changes lo Ihe benefits system, and new legislation are contusing lo many. not only ndrds. and we will continue lo support them as the requiremènts conlinue to change and evofve. Page 7
SHREWSBURY HOMES F RALL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES. RESPONSIBIUTY STATEMENT The Iruslees Iwho are also the directors of Shrewsbury Homes For All lor the purposes of company lawl are responsible for preparing the Trustees, Report and the financial slalements in accordance with appIable law and United Kingdom Accounting Standards (United Kingdom Genefally Accepted Accounting Practicel including Financial Reporting Stsnd8rd 102 "The Financial Reporting Slandaid appl¢cable in the UK and Republic of Irelan Company law requires the tnjstees lo prepare financ1 slalemenls for each financol year which give a true and fair vw4 of the stsle of affairs of the charrtable company and of Ihe incoming resources and application of resources, including Ihe income and expendrture, of ihe chariiable company for that pefi¢xJ. In preparing those financi81 slalemenls. the trustees ale required to sele¢t suitable accounting p)licies al then apply them eonsistentty.. observe the methods and prinCipS in the Charty SORP. make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going con¢ern basis unless rt is inapproprK4te lo piesume that the charitable company will conlinue in busine88. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy 81 any time the financial posrtion of the ¢harrtable company and lo enable them lo ensure that the financi81 slalemenls comply with Ihe Companies Acl 20C6 They are also responsible lor safeguarding the assets of the charf(able company and hence lor taking feasonable slep$ for the pieventKJn and detection of fraud and other lrregularrt$. Approved by order of the board of Iruslees on .... ..... . . and signed on rt8 behalf by.. C Crackett- Trustee Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHREWSBURY HOMES FOR ALL Independent examiner's report to the trustees of Shrewsbury Homes For All {Ihe Company'l report to the charity trustees on my eXaMinn of the ¥counts of Ihe Company lor the year ended 31 March 2025. Responsibilities and basis of report As the charity's tiuslees of the Company land aL%o its directors for the purpose5 of company lawl you are responsible lor ttte preparabon of ihe aecounls in accordance with the iequiremenls of the Companies Act 2006 Ilhe 20(E Act'i. Having Satisfi myseff that the accounts of the Company are not required lo be audf(ed under Part 16 of the 20C6 Acl and are eligib lor Independent examination. I report in respecl of my examination of your charity's a¢counls as carned out under SeCin 145 01 the Chanlies Act 2011 I'the 2011 Acl'l. In carryin9 out my examination I have followed the DireCtK$ given by Ihe Chafrty C(ynmL8S under Section 145151 Ibl of the 2011 Acl Independent examin•rfs stai•ment I have completed my examination. l eonfimi thal matters have come to my attention in connection with the examinion gNing me cause to beIve.. accounting record$ were not kept in respect of Ihe Company as reqLtired by seCtn 386 of the 2008 Ad. or the aCUnIS do n¢X accord wrth those records." or the accounts do not comply wrth the accounting requirements of Section 396 of the 2006 Act other than any requirement that ihe accounts give a true and fair Vle•V which Is not a matter considered as part of an independont examinaiion, or the accounts have not been prepaied in aCcdance wrth the meth¢)Js and pnnciples of the Slalemenl of Recommended praCte lor accounting and reporting by chanties18ppluble 10 eharilies preparing their accounts In ac¢ordance wth the Financ1 Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 I have no concerns and have cc*me acT0$3 no other matters in eonnecty)n with tho examination lo which attention should be drawn this report In order lo enable a proper understanding ol the accounts lo be reached. C Moewn-wlliams BS¢ FCA TCA Ishrewsburyl LLP Third Floor 21 Sl Mary's Street Shfewsbury Shropshire SY1 1ED Dale.. 18 Page 9
SHREWS8URY HOMES FOR ALL STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT R THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total fLtnds Unrestricted funds Restricted fund Notes INCOME AND ENDOWMENTS FROM DonalK)ns and legacies 120,916 120,916 44,249 Charitabl• activltles Charrtable 36.688 24,853 61.541 100,377 Inve51menl income 8,041 8,041 2,756 Total 165.645 24,853 147,382 EXPENDITURE ON Charitablo actlvltios Direct charitable expense 69.062 23.732 92 794 112,785 NET INCOME 96.583 1.121 97,704 34.597 RECONCILIA TION OF FUNDS Total funds brought forward 159.393 2.280 161.673 127.076 TOTAL FUNDS CARRIED FORWARD 255,976 3.401 259 377 161,673 CONTINUING OPERA TIONS All income and expendrture has aran from continuing activites. The notes fomi part of these financial statements Page 10
SHREWSBURY HOME FORALL STATEMENT OF FINANCIAL POSITION 31 MARCH 20 2025 Tota1 funds 2024 Total fund8 UnrestrKted Restrrled fur$ fund Noles CURRENT ASSETS Debtors Cash 81 bank and in hand 921 279,842 921 283.243 40.907 143.615 3,401 280.763 3,401 284,164 184,522 CREDITORS Amounts falling due within one year {20.7901 120,790) 118.9351 NET CURRENT ASSETS 259,973 3.401 263.374 165.587 TOTAL ASSETS LESS CURRENT LIABILITIES 259.973 3,401 263,374 165,587 PROVISIONS FOR UABILITIES 13,997) {3.997 13,9141 NET ASSETS 255.976 3,401 259.377 161673 FUNDS Unrestricted funds Restricted funds 255,976 3.401 159.393 2280 TOTAL FUNDS 259.377 161873 The charitable company is entitled to exemption from audit under sect 477 of the Compans Act 201X for the year ended 31 March 202S. The members have not required the Company to oblain an audrt ol rts financial statements for the year ended 31 March 2025 in x¢ordance with sect1n 476 of the Companies Aet 2iJ)6. The Iruslees acknowledge their responsibilities for ensuring that the charitable company keeps accounting recordg that compty wrth Sections 386 and 387 01 the Cornpanies Act 20C6 and Ibl preparing financial statements which give a true and lair view of the slate ol affairs of the charitable company as al the end ol each financ1 year and of ils surplus or deficrt for each financial year in accordance wrth the requiremenls of SeCtns 394 and 395 and which otherwise comply with the requirements of the Compans Acl 2006 reLating lo financk41 stalemenls, so fai as applicabb lo tha ehanlable company. These financial statements have been prepared in accordance wrth Ihe provisKJns applicable to charitab companies subject lo the small compan5 regim. The financial slemenls were appro¥gJ by the Board of Trustees and authorised for issue on . and We signed on rts behaff by.. Mrs C Crackett. Trustee The notes fom part of ttr5e financial statements Page 11
SHREWSB RY HOMES FOR ALL NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES 8asi5 of preparing the financial statements The financial statements of the Charrtab company, which is a public benefit enlrty under FRS 102, have been prepared in accordance with the Chairties SORP IFRS 1021 'Accounting and Reporting by charit$. Slalemenl of Recomrnended PraCte applKable lo charilvès preparing their accounts in accordance wth the Financial Reporting Standard applicable in th& UK and Republic of Ireland IFRS 1021 leffeclNe 1 January 20191,. Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland. and the Companies Act 20C6 The financial slatemenis have been prepared under the hislortal cost convention. Financial reportlng standard 102- roduced dis¢lo¥ur• exemptions The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements. as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.: the requirement3 of Sectn 7 Slatemenl of Cash Flows." the requirement of paragraph 3. 17ldl". the requirements of paragraphs 1142, 11.44, 11.45, 11.47. 11.48lalliiil. 11.48lalliv}, 11.481bl and 11.48lcl, the requirements of paragraphs 12.28. 12.27. 12.2918), 12.29(b) and 12.29A., the requirement of paragfaph 33.7 Income All income is recognised in the Statement of Financ1 Aclivilies once the charrty has enlillernenl lo the funds, Il 1$ probable that the income will be received and the amounl can be measufed rèlrably. The re¢ognilKin of income from legacie5 is dependent on establishing enlillemenl, the probability ol reeeipl and the ability lo e$limale with SLIfflent accuracy the amunl receivable. Evidence of entitlement lo a legacy exists when the Charity has sufficient evidence that a gift has been left to them Ilhrough knowledge of the exislene8 of o valid will and the death of the benefactorl and the executor 15 satisfied that the propety in queslion will nol be required lo satisfy claims In the eslale. Receipt ol a legacy musl be recognised when rt Is probable that It will te received and the fair value of the amount receivable. whieh will generalty te the expected cash amount lo be dislributed lo the Charity, can be reliabty measyrgd. Expendtture Liabilities are reeognised as expenditure as soon as Ihere is a legal or conslruetive obligation Committing the charity lo that expendrture. il is probab that a transfer of economic benefrty will be required In settlement 8nd the amount of rhe obligation can be measured reliably. Expenditu 1$ 8eeounted for on an accruals basis and has been classrfied under headings that aggregate all cost related to the category. Where costs cannot be d1ctlY attributed lo particular headings they have been allocated lo activities on a basis consisienl with the LBe of resources. Taxation The charity 18 exempl from corporat tax on rts charitable activities. Fund accounting Unrestricted fLJnds can be used in accordance with the charrtable objectwes al Ihe discretion of the trustees. Restricted funds can onty be used for particular restncted purposes wrthin the objec15 of the charity. ReStrtionS arise when specrfRd by the dorK>r or when fvnds are r¥i5ed for particular restricted purposes. Further explanation of the nature and purpose of each fvno included in the notes lo the financial statement5. Page 12 continued...
SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS- con FOR THE YEAR EN ED 31 MARCH 2025 inued ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefrts The chariiable company operates a defined cOntnbuti n$)n scheme. Contributions Payab to the charitable company's pension scheme a charged to the St¥nent of Financial Activities In the pemd lo whth Ihey relate. See further delail In note 11. Cash at bank and in hand Cash al bank and In hand includes cash and short-lerm hhlY liquid investments wrth a short maturity of three months or s$ from the date of acquisrtion or opening of the dew)sit or similaf account. Debtorn Trade and other deblof5 are recogniseij al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaKI net of any trade discounls due. Financial instruments The chanly only has financial assets and fInar1 Iiabilrties of a kind that qualtfy as basic financial inslrumenls. Basic financial Instruments are inilolty reccgnised al transadion value and $Lsbsequently measud at their settlement value. INVESTMENT INCOME 2025 2024 Depo8rt account intoresl 8.041 2.756 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 ActNty Charrtab Charitab Charitab Charitable Charrtabl8 Landlord ¢onlributions Sustain Consortium Mill¢ehope FOundatn Grant$ Other 13.688 13,717 36,854 3.000 46,492 314 3.CQO 44,853 61,541 100,377 Grants received. included in the above. a as foll¢)ws'. 2025 2024 The NalDnal Lottery Communty Fund The Nathjnal Lottery Cost of Living Grant Other small grants The National Lottery Awards for All 24.853 25,119 20,273 1,100 20 ¢JOO 44,8S3 46.492 Page 13 conlinLied...
SHREWSBURY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneratson or olher benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paKI for the year ended 31 March 2025 nor for the year ended 31 March 2024 STAFF COSTS 2025 2024 Wages and g818nes Social secunty costs Othef pension costs 75.487 S,109 556 92.311 6,190 81,152 97.380 The average monthly number of employees during the year was as follcp•VS'. General activrties 202S 2024 No employees recewed emoluments in exeess of £60.000. The average number of lull lime equiva1 employees during the year was 3.12024. 41 The total remuneration ènd benefits paid lo the key man8gemenl personnel, lo whom the Trustees delegate the day-lo-day running of the chanty was £37.591 12024" £37.5911. During the year. Ihe charty has clairned the Empbyment AllcNan¢e credit against Employers Nalitsnal Insurance. a fonn ol financial assistance from the government. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Prepayments and accrued in¢on 921 40,907 Page 14 continued...
SHREWS8URY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMENTS- continu FOR THE YEAR END D 31 MARCH 2025 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Trade creditors S¢Xi81 secursty and ther taxes Tenant loan fund Client funds- ongoing nI accounts Client funds hgld for bonds Accrua15 420 655 6.647 1.559 8.394 1,260 2.292 6.757 3,309 7,130 1,302 20.790 18.935 Shrewsbury Homes for All receNes housing benefrt and the shortfall due from clients at various limes dLtring the month The money is only paKI to the landlofd when the rent falls due. so al the year end there is an amount held ready lo do this. This amount vari8s sub$tanlialty day to day land so year to yearl due lo liming k8sue5 PROVISIONS FOR LIABILITIES 2025 2024 Pension debt proviSn 3.914 The provision relates lo the estimated pen$Ksn debt as set OLrt in note 10. MOVEMENT IN FUNDS Net movemenl in funds Transfers befvleen funds Al 31 3.25 At 1.4.24 Unrgstrlcted funds General fund Staffing reserve Bonds Pension Debt Reserves AlkKaled lo Housing Support Project Bu$ine¥s Oeveloprmnl Fund 44,897 41.134 14.448 3.914 96.583 125.0831 116 397 41 134 14,448 3,997 83 25.000 30.wo 25,000 50.ODO 159,393 96.583 255,976 Restrl¢tgd funds The National Lottery 2.280 1,121 3.401 TOTAL FUNDS 161,673 97.704 259,377 Page 15 continued ..
SHREWSBURY HOMES FOR ALL NOT TO THE FINANCIAL STATEMENTS - co FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT IN FUNDS- ¢ontinugd tinued Net movement in funds. included in the above are as follows.. Incoming resou8$ Resourees expended Movement in funds Unrestricted funds General fund 165.645 169,CE21 96,583 Rtricted funds The National Lottery 24.853 123,7321 1.121 TOTAL FUNDS 190.498 92.7941 97,704 Comparatlvv for mov•m•nt in fund Nel movement in funds Transfers b$een fvnd$ Al 31.324 At 1.4.23 Unrgstrlct•d funds General lund Staffing reserve Business Continurty FuThJ Bonds Pension Debt ReseNe5 Alkxalad lo Housing Support Project Business Development Fund 20.352 35.939 36,120 29,742 4,923 32,317 {7.7721 5.195 136.1201 115.2941 11.0091 44,897 41,134 14.448 3,914 25,000 30,000 25,000 30 000 127.076 Restricted funds The National Lottery 32.317 159,393 2.280 2,280 TOTAL FUNDS 127.076 34.S97 161.673 Comparative net moverrnl in funds, included in the atove are as follows.. Ineoming reSoue5 Re80urces Movement expended in funds Unrestricted funds General fund 122.263 189,946 32.317 Restri¢ted fvnds The National Lottery 25.119 122,8391 2.280 TOTAL FUNDS 147.382 112.7851 34,597 Page 16 eonlinued...
HREW RYH ME FOR AL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT IN FUNDS- continuod Deslgnated funds The trustees have designated the funds of the charty to ensure that we continue to meet of overall aims and objectives. In delail they are". staffing Reserve- in the event of the winding up of the chafty. we not only need to allow for re(lundancy costs bul also 6 months running lo ensure thal all rent accounts are transferred elsewhere so that no lenanl loses their home Bonds - we hold Clients. fund5 for bonds issued over many years and have also made a proVisn so that mor8 can be issued if required. The demand for bonds has fallen considerably due lo Ihe avaiL3bilty of disciets'onary housing paymènts, so the prOvisn has been reduced Pension Debt- this figure is provided by our pension provider Resepies Allocated to Houslng Support Project- This was 50'.50 match funded wth the National Lottery until March 2025 The Iiuslees have desKJnaled Iijnds lo continue this very suecessful projècl whilst further funding is sought lof Ils bn9 lem future. 8usines$ Development Fund - Ihe trustees plan to seek further funding from the lottery to continue our successful project of housing support and also lo develop our triage and signposting service. Both these developments will feouire funding in part from our feserves. Restrlctod funds The National Lottery Communty Fund represents restricted malch-funded grant funding received during the year lor providing fom)al tenancy and housing support 10. EMPLOYEE BENEFIT 08LIGATIONS Shrewsbury Hcrfnes lor All partKipates in the Pension$' TnJsl GrovAh Plan I'lhe plan"). The plan is funded and is not contracted OLrt of the siale scheme As at the balance sheet date there were four actNe members of thè Plan employed by Shrewsbury Homes for All Shrewsbury Homes for All continues to offer membership of the Plan lo rt's employegs, atthough from October 2013 on a defined contribUtn basts. 11 is not possible In Ihe normal course of events lo hlentfy on a reasonab and consistent basis, the share of the underlyiNJ assets and Iiabilrties belonging lo individual participating employers. The Plan is a muttimployer scheme. where the assets ale co-mingled for Investments purposes, and benefits are paid out of the Plan's total assets. Accordingly. due lo the nature of the Pkqn, the accounting charge for the year under FRS 102 and SORP 2019 repiesenls the employer contribulions payable. The contributn for the year was £5.10912024." £6.1901. The latest full valuation of the Plan as al 30 Seplernber 2023 wa$ performed by a professional qualifd Actuary using the Projected Unrt Method. The valualion revealed a shortfall of as$els compared with ttte value oflobilrties of £16.1 million. Shrewsbury Homes for All paid contributions al the rale of 6.8% 12024.. 6.8Vol dunng the accounting period Members pa*J contributions at the rate of 3.20h12024". 3.2%) during the accounting pericxj. When an employer Wrthdraws from a multlaernployer defined benefrt pension Schen which is in deficit, the employer is required by law lo pay rt's share of the deficil, ¢8lculaled on a statutory basis Iknown as the buy-oul basis). The catulation basis that applies lo the Growlh Plan was amended due lo a change in the definitson of money Pufchase contained in the Pensions Act 2011, but the regulations that determine exactly how thè change will appty in practKe are still awaited. As the law stands. rt Is not yel clear whether the staiutory calculathjn should include or exclude Series 3 liabilrties. However, based upon current advice, the most likety Interpretation is that Series 3 IiabililEs will have to be irKluded in the cakulation of an empb)yerfs debt on withdrawal. Page 17 continued...
SHREWS8URY HOMES FOR ALL NOTES TO THE FINANCIAL STATEMEIUS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 10. EMPLOYEE BENEFIT OBUGATIONS - continued The cost of wrthdrawal lo Shrewsbury Homes for All as at 30 September 2024 Ilalesl valuation provided by the Pensions Trustl would be £3,997 12024". valualwjn al 30 September 2023. £3.914). The Trusl8es consider this as a eredrtor due to the indic8tNe remIal of the Sustain ILFnding. 11. OTHER FINANCIAL COMMIThIENTS Guarantees: Shrewsbury Homes for All makes a bond pledge lo landlords whh the lenanl pays l¢)wards their tenancy. This pledge is payable lo the landlord at the end of the tenancy in Circumstan$ of damage caused by the tenant or non-payment of nI. The Trustees have 8Uthorised pledges of 0K in addition lo the rnon received from tenants fesutting in total pledged values of £31k al the year end 12024. £31KI. The monies recewed from tenants are due back to the len8nt rf the tenancy finishes wilhoul liability, and a due lo the landlord In case of non-payment ol rent or damage The bond pledges made by Shrewsbury Homes lor All are reaSed back lo the charty for re-use rf the tenancy ends wilhoul liability. 12. RELATED PARry OISCLOSURES One of the current Trustees 12024" one) is also a landlord whose homes are rented by Shrewsbury Homes for All's tenants Whilst the legal agreement is directly befv4een the landlord and the lenanls, Shrewsbury Homes for All do act as an intermediary In Ihe payments of ntS The value of these payments for the current financial year was £10.830 for 2 properlies12024. £12,890 for 3 properties). All landlords a asked lo voluntarily done a 59A adminislratson conlribul)n from the gross monthly r¢nl to support the work of Shrewsbury Homes for All. t)onalion$ rec•ved frcffi Trustees during the year loialled £24012024." £3001. Page 18