OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

FUSION HOUSING KIRKLEES LIMITED (a company limited by guarantee)

FINANCIAL STATEMENTS

31 MARCH 2022

CONTENTS Page
Charity Reference and Administrative Details 1
Trustees’ Annual Report 2-7
Auditors’ report 8-11
Statement of financial activity 12-13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16-27
The following page does not form part of the financial statements
Detailed statement of financial activities 28-29

Company registration number: 08158320 Registered charity number: 1151483

1

FUSION HOUSING KIRKLEES LIMITED

CHARITY REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 MARCH 2022

Charity name: Fusion Housing Kirklees Limited Charity number : 1151483 Company number : 08158320 Trustees: D J Binns (Resigned 26 July 2021) E Cannell D Hullock S Kaye (Appointed 24 May 2021) K Knott C Ledwon M A Leith C Lorenzelli D P Moriarty C A Pattison S Smith N J Tarren M Vangrove

Principal and registered office : Pearl House, John William Street, Huddersfield, HD1 1BA Auditors: Wheawill & Sudworth Limited, Chartered Accountants, 35 Westgate, Huddersfield, HD1 1PA Principal bankers :

2

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the audited financial statement of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities as updated by Bulletin 1 in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

The Directors of the charitable company (the charity) are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

As part of the Statement of Recommended Practice (SORP) regulations a Trustees Annual Report is required together with the financial audit and it is therefore logical and efficient to embed its business, finance, strategic plans and reviews into this Report.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charity are the prevention or relief of poverty for public benefit particularly but not exclusively in West Yorkshire, particularly of people who are homeless, about to become homeless or who are in housing need by providing advice, advocacy, support and training in relation to health, housing, learning and employment.

Significant activities

Fusion Housing Kirklees provides housing support, advice and guidance in housing related matters to the citizens of Kirklees.

Public benefit and eligibility criteria

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the organisation’s aims and objectives and in planning future activities.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

In year achievements/performance:

During the continued COVID-19 pandemic of 2021/22, the Organisation has continued to meet the needs of the communities in which it works; building upon remote working systems and a greater use digital communication developed in the previous year. Towards the end of the financial year, more staff were able to return to office working and offer face to face help once again.

Learning from operating throughout the pandemic has been used to further strengthen service delivery and offer new ways of accessing help in these challenging times.

Continued support from Funders and strong Partnerships have enabled the Organisation to manage through the past 2 unprecedented years and plan positively for the future.

3

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 (Continued)

Housing Advice

Between 1 April 2021 and 31 March 2022 our Housing Advice service assisted 663 clients. 37 households were prevented from being made homeless (for at least 6 months) where our team assisted in defending possession action, securing social and private sector housing.

The advice service provides, for public benefit, a confidential and not for profit advice service for individuals age 16 and over in the Kirklees and Wakefield areas. We provide specialist legal advice on housing and related matters including:

Initial Contact Service/Food and More Service

Our Initial Contact Service acts as the first point of contact to access other Fusion Services and provides initial advice and support on housing and related issues across Kirklees. During the period 502 clients accessed the service.

The Food and More service runs our Food Bank provision in Dewsbury where we have provided 2,987 food packs with 4,880 people in households benefiting from 100,254 meals over the year. The service also assisted 437 individuals with Furniture and Home Starter Packs via the Household Fund.

B.O.S. Housing Support

Our Housing Related Support Service forms part of the Social Impact Bond Funded scheme KBOP, commissioned by Kirklees Council and delivered alongside seven other local organisations. Whilst having the overall aim of addressing homelessness and housing insecurity, we also support participants into work and education, enable access to other services including those addressing mental health and substance misuse, and support people into education, training and employment.

Between 1 April 2021 and 31 March 2022 Fusion’s service received 273 new referrals, with the team supporting up to 450 individuals at any one time. In addition to support to find or maintain accommodation, 222 individuals also succeeded in improving their financial resilience in the form of budgeting support, income maximisation and support with benefits, or access to our Money Management learning provision. Our Housing Support Service also supported 80 participants to access support or training and directly supported 34 individuals into employment. As part of this contract we also provide a Tenancy Deposit and Landlord Liaison Service which began in May 2021. In the remaining 11 months of the financial year this service received an astounding 669 referrals as an increasing number of people needed to access accommodation in the private sector as a result of the lack of social housing.

HOMES

Our HOMEs service provides accommodation for single people and single parent families who are homeless and require additional low level support to enable them to manage independently. Accommodation is available in the Kirklees, Wakefield and Calderdale areas and consists of both self-contained and shared living options. Tenants can stay for up to 2 years whilst they explore longer term options and receive the help they need to address issues they may have which put them at risk of homelessness.

4

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 (Continued)

Between 1 April 2021 and 31 March 2022, our HOMEs service provided accommodation to 346 clients in our managed tenancy service with 420 tenancies in management over the year. These were located in our three areas as follows:

Local Authority Number of new referrals Kirklees 295 Calderdale 68 Wakefield 57

We received 614 referrals during the year.

B.O.S. Learning and Employment

Our Adult Community Learning provision was in place until July 2021 with 35 learners completing our Hero Helpers, Fit for Life, Come Dine with Us and New Directions courses between 1 April 2021 and 22 July 2021. Despite a great deal of work exploring the additional funding needed to continue provision we were unable to source the capital needed to maintain delivery. We continue to provide adult learning through our KBOP contract and have maintained our status as an accredited learning centre.

Our Works Better Service provides support into work and volunteering, including help with job search, CV’s, childcare support engaging with employers and continued support when in employment. Between April 2021 and March 2022 we received 392 referrals with 115 clients moving into employment.

Fundraising activities

Fusion Housing Kirklees funds are sought through grants and contracts with grant and contract making bodies.

FINANCIAL REVIEW

The results for the year and financial position of the company are shown in the financial statements.

Principal Funding Sources The principal funding sources are;

Kirklees Council Kirklees Better Outcomes Partnership Legal Aid Agency

Reserves Policy

Fusion Housing Kirklees will seek to ensure a minimum level of reserves of at least 5% of annual operating costs and will have flexibility at each accounting year for a reduction or increase of funds.

Going concern

The trustees have considered the impact of the previous year Covid 19 pandemic on the charity during this year and for the future. Whilst acknowledging that operations could still be affected in the short-term at least, the Trustees believe they have put suitable measures in place to ensure that the charity will continue its activities going forward. The Trustees therefore believe that the preparation of the financial statements on the going concern basis is appropriate.

Future Plans

Fusion Housing Kirklees will seek to diversify and attract funds into the core business activities to secure the provision of quality, person centred, housing support and advice to those that are most at need. We will continue to develop our employment, education and training provision maintaining quality standards through matrix accreditation.

5

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 (Continued)

Key areas for future development identified are:

Our bi-annual Staff Conference structure will continue to play a role in these developments and to identify other areas.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Company is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

Recruitment of Trustees is done through advertisement in local press or through local agency bulletins and by nomination through existing members when a position becomes available.

New Trustees are appointed by Election where individuals are nominated (following their application) and are then elected onto the Board of Trustees by the organisation’s members at an Annual General Meeting (AGM).

Organisational structure

The Trustees of the organisation hold responsibility to the organisation for decision making and delegate core functions to the organisations Director and Management Team.

Induction and training of new trustees

New trustees to the Fusion Housing Kirklees Board will go through an induction process and skills audit to ascertain any training needs. All trustees will have access to the organisations training programme in relation to the services provided.

Related parties

There are no related parties, and no transactions with trustees as determined by the Memorandum and Articles of Association.

6

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 (continued)

Directors

The Directors during the year were:

D J Binns (Resigned 26 July 2021) E Cannell D Hullock S Kaye (Appointed 24 May 2021) K Knott C Ledwon M A Leith C Lorenzelli D P Moriarty C A Pattison S Smith N J Tarren M Vangrove

Auditors

Wheawill & Sudworth Limited were appointed as auditor for the year and they will be proposed for re-appointment at the Annual General Meeting.

7

FUSION HOUSING KIRKLEES LIMITED

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 (continued)

Trustees’ Responsibilities Statement

The Trustees (who are also the directors of Fusion Housing Kirklees Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

ON BEHALF OF THE BOARD

Approved by the board on 06 October 2022 and signed on its behalf by

M Vangrove Chair

8

FUSION HOUSING KIRKLEES LIMITED

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Independent Auditor’s Report to the trustees of Fusion Housing Kirklees Limited

We have audited the financial statements of Fusion Housing Kirklees Limited (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

9

FUSION HOUSING KIRKLEES LIMITED

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

10

FUSION HOUSING KIRKLEES LIMITED

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

11

FUSION HOUSING KIRKLEES LIMITED

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

35 Westgate Huddersfield HD1 1PA 06 October 2022 David Butterworth, Senior Statutory Auditor Wheawill & Sudworth Limited, Statutory Auditor

Wheawill & Sudworth Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

12

FUSION HOUSING KIRKLEES LIMITED

STATEMENT OF FINANCIAL ACTIVITY (Including Income and Expenditure Account) for the year ended

31 MARCH 2022

Total Total
Unrestricted Restricted Funds Funds
Note Funds Funds 2022 2021
£ £ £ £
Incoming resources
2 Donations and legacies: 12,322 - 12,322 15,629
────── ────── ────── ──────
5 Charitable activities
Housing advice and support 583,902 1,011,428 1,595,330 1,512,182
Learning - 164,671 164,671 305,219
Recycling - 375,962 375,962 152,805
────── ────── ────── ──────
583,902 1,552,061 2,135,963 1,970,206
────── ────── ────── ──────
3 Other trading activities 3,162,782 - 3,162,782 2,981,136
────── ────── ────── ──────
4 Investment income 7 - 7 22
────── ────── ────── ──────
Total income and endowments 3,759,013 1,552,061 5,311,074 4,966,993
══════ ══════ ══════ ══════
Resources expended
6 Expenditure on raising funds 1,788,363 - 1,788,363 1,631,845
────── ────── ────── ──────
7 Charitable activities
Housing advice and support 1,295,511 1,011,428 2,306,939 2,446,755
Learning 217,010 164,671 381,681 494,456
Recycling 405,245 375,962 781,207 248,822
Other 36,825 - 36,825 43,904
────── ────── ────── ──────
1,954,591 1,552,061 3,506,652 3,233,937
────── ────── ────── ──────
Total resources expended 3,742,954 1,552,061 5,295,015 4,865,782
══════ ══════ ══════ ══════
10 Net income/(expenditure) 16,059 - 16,059 101,211

The notes on pages 16 to 27 form part of these financial statements

13

FUSION HOUSING KIRKLEES LIMITED

STATEMENT OF FINANCIAL ACTIVITY (continued)

for the year ended

31 MARCH 2022

Total Total
Unrestricted Restricted Funds Funds
Note Funds Funds 2022 2021
£ £ £ £
Net income/(expenditure) 16,059 - 16,059 101,211
20 Transfers between funds - - - -
────── ────── ────── ──────
Net movement in funds 16,059 - 16,059 101,211
Total funds brought forward 216,389 1,938 218,327 117,116
────── ────── ────── ──────
Total funds carried forward 232,448 1,938 234,386 218,327
══════ ══════ ══════ ══════

Continuing operations

None of the charitable company’s activities were acquired or discontinued during the current year.

Total recognised gains and losses

The charitable company has no recognised gains or losses other than the surplus/(deficit) for the current and previous periods.

The notes on pages 16 to 27 form part of these financial statements.

14

FUSION HOUSING KIRKLEES LIMITED

BALANCE SHEET

AS AT 31 MARCH 2022

Notes Unrestricted Restricted 2022 2021
Funds Funds Total funds Total funds
£ £ £ £
Fixed assets
14 Tangible assets 103,189 - 103,189 123,696
Current assets
15 Debtors 598,261 - 598,261 581,702
Cash at bank and in hand 79,810 1,938 81,748 150,890
────── ────── ────── ──────
678,071 1,938 680,009 732,592
16 Creditors:amounts falling
due within one year (507,778) - (507,778) (528,998)
────── ────── ────── ──────
Net current assets 170,293 1,938 172,231 203,594
────── ────── ────── ──────
Total assets less current liabilities 273,482 1,938 275,420 327,290
17 Creditors:amounts falling (41,034) - (41,034) (108,964)
due after more than one year
────── ────── ────── ──────
Net assets 232,448 1,938 234,386 218,326
══════ ══════ ══════ ══════
20 Funds
Unrestricted funds 232,448 216,388
Restricted funds:
Jean Conway Trust 1,258 1,258
Howitt Homeless Trust 230 230
Community Legal Services
Development Fund 450 450
────── ──────
Total funds 234,386 218,326
══════ ══════

The accounts on pages 12 to 27 were approved and authorised for issue by the board on 06 October 2022 and signed on their behalf

M VANGROVE C A PATTISON Trustee Trustee

Company registration number : 081583201

The notes on pages 16 to 29 form part of these financial statements.

15

FUSION HOUSING KIRKLEES LIMITED

STATEMENT OF CASH FLOWS

for the year ended

31 MARCH 2022

2022 2021
Note £ £
Cash flow from operating activities
Cash generated/(absorbed) by operations 24,080 183,565
Interest paid (14,661) (17,726)
────── ──────
Net cash flow provided by (used in) from operating activities 9,419 165,839
────── ──────
Cash flow from investing activities
Payment to acquire tangible fixed assets (30,487) (46,188)
Interest received 7 22
────── ──────
Net cash flow provided by (used in) investing activities (30,480) (46,166)
────── ──────
Cash flows from financing activities:
Loan repayments in year (48,081) (72,204)
────── ──────
Net cash provided by (used in) financing activities (48,081) (72,204)
────── ──────
Change in cash and cash equivalents in the reporting period (69,142) 47,469
Cash and cash equivalents consists at the beginning 150,890 103,421
of the reporting period
────── ──────
Cash and cash equivalents consists at the end 81,748 150,890
of the reporting period
══════ ══════
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2022 2021
£ £
Net income/(expenditure) for the reporting period (as per
the statement of financial activities) 16,059 101,211
Adjustments for:
Depreciation charges 50,994 49,714
Interest received (7) (22)
Interest paid 14,661 17,726
(Increase) in debtors (16,559) (9,330)
Increase/(decrease) in creditors (41,068) 24,266
────── ──────
Cash flow from operating activities 24,080 183,565
────── ──────

16

FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS

31 MARCH 2022

1 Summary of significant accounting policies

(a) Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity as defined by FRS 102, have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Income

All income is recognised in the Statement of Financial Activities (SoFA) once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

(c) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

(d) Raising funds

Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising, events and non-charitable trading.

(e) Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

(f) Allocation and apportionment of costs

Costs relating to a particular activity are allocated directly. Support costs that are not wholly attributable to a single activity are apportioned across the activities based upon calculations such as floor area or estimated usage.

17

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

(g) Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - over the lease term Tenancy property assets - 33% on cost Fixtures and fittings - 20% on reducing balance Computer equipment - 33% on cost

(h) Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The charity is consequently exempt from corporation tax on its charitable activities

(i) Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

(j) Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

(k) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

18

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

2 Donations and Legacies

2 Donations and Legacies
Unrestricted
Restricted		 2022 2021
Funds Funds Total Funds Total Funds
£ £ £ £
Donations 12,322 - 12,322 15,629
══════ ══════ ══════ ══════
3 Other Trading Activities
Unrestricted
Restricted		 2022 2021
Funds Funds Total Funds Total Funds
£ £ £ £
Rents and housing benefit 3,162,783 - 3,162,783 2,981,136
══════ ══════ ══════ ══════
4 Investment Income Unrestricted
Restricted		 2022 2021
Funds Funds Total Funds Total Funds
£ £ £ £
Deposit account interest 7 - 7 22
═ ═ ═ ═
5 Income from Charitable Activities
2022 2021
£ £
Activity
Legal help and court duty Housing advice and support 192,486 68,160
Grants Housing advice and support 1,402,844 1,444,022
Course delivery fees Learning 7,526 19,147
Grants Learning 157,145 286,072
Grants Recycling 375,962 152,805
────── ──────
2,135,963 1,970,206
══════ ══════

19

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

Expenditure on Raising Funds

Other trading activities

Other trading activities
Unrestricted Unrestricted 2022 2021
Funds Funds Total Funds Total Funds
£ £ £ £
Tenancy costs 1,788,363 - 1,788,363 1,631,845
══════ ══════ ══════ ══════
7 Charitable Activities Costs
Direct Costs Support Costs Totals
(see note 8) (see note 9)
£ £ £
Housing advice and support 1,726,965 579,974 2,306,939
Learning 283,532 98,149 381,681
Recycling 567,063 214,144 781,207
Other - 36,825 36,825
────── ────── ──────
2,577,560 929,092 3,506,652
══════ ══════ ══════
8 Direct Costs of Charitable Activities
2022 2021
£ £
Staff costs 2,349,801 2,245,136
Beneficiary costs 24,168 3,884
Beneficiary course costs 1,051 1,856
Travel and subsistence 17,646 24,603
Training 4,548 3,816
Interpreter fees 5,841 2,871
Payments to partners - 16,204
Legal Aid disbursements 32,468 4,283
LWP Food 36,966 26,801
LWP Furniture 105,071 57,253
────── ──────
2,577,560 2,386,707
══════ ══════
9 Support Costs
Governance
Management Finance Costs Totals
£ £ £ £
Other resources expended 14,661 5,632 16,532 36,825
Housing advice and support 579,974 - - 579,974
Learning 98,149 - - 98,149
Recycling 214,144 - - 214,144
────── ────── ────── ──────
906,928 5,632 16,532 929,092
══════ ══════ ══════ ══════

20

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

Support costs, included in the above are as follows:

9 Support Costs – continued
Support costs, included in the above are as follows:
Other Housing
resources advice and
expended Support Learning
£ £ £
Interest payable and similar charges 14,661 - -
Sundries 448 - -
Bank charges 5,184 - -
Auditors’ remuneration 7,000 - -
Legal fees 9,532 - -
Wages - 231,748 39,218
Pensions - 13,405 2,269
Rent, rates and water - 130,871 22,147
Insurance - 18,233 3,086
Light and heat - 7,633 1,292
Postage, stationery and telephone - 64,192 10,863
Other costs - 80,746 13,665
Depreciation of tangible assets - 33,146 5,609
────── ────── ──────
36,825 579,974 98,149
══════ ══════ ══════
2022 2021
Recycling Total Total
Activities Activities
£ £ £
Interest payable and similar charges - 14,661 17,726
Sundries - 448 3,148
Bank charges - 5,184 4,471
Auditors remuneration - 7,000 7,000
Legal fees - 9,532 11,559
Wages 85,568 356,534 299,983
Pensions 4,950 20,624 19,037
Rent, rates and water 48,321 201,339 182,865
Insurance 6,732 28,051 29,174
Light and heat 2,819 11,744 16,779
Postage, stationery and telephone 23,701 98,756 85,372
Other costs 29,814 124,225 120,402
Depreciation of tangible assets 12,239 50,994 49,714
────── ────── ──────
214,144 929,092 847,230
══════ ══════ ══════
10 Net Income/(Expenditure)
Net income/(expenditure) is stated after charging/
(crediting): 2022 2021
£ £
Auditors’ remuneration 7,000 7,000
Depreciation – owned assets 50,994 49,714
══════ ══════

21

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

Trustees’ Remuneration and Benefits

There were no trustees’ remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.


ended 31 March 2021.
Trustees’ expenses
2022 2021
£ £
Trustees’ expenses - -
═ ═
12 Staff Costs
2022 2021
£ £
Wages and salaries 2,595,618 2,442,924
Pension costs 131,341 121,232
────── ──────
2,726,959 2,564,156
────── ──────

The average monthly number of employees during the year was as follows:

2022 2021
Provision of service 84 79
Management and administration 10 9
── ──
94 88
══ ══

NNo employees received emoluments in excess of £60,000 (2021: none)

22

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

13 Comparatives for the Statement of Financial Activities

Year ended 31 March 2021
Note Unrestricted
Restricted		 Total
Funds Funds Funds
£ £ £
Income and endowments from
2 Donations and legacies 15,629 - 15,629
5 Charitable activities
Housing advice and support 488,589 1,023,593 1,512,182
Learning - 305,219 305,219
Recycling - 152,805 152,805
3 Other trading activities 2,981,136 - 2,981,136
4 Investment income 22 - 22
────── ────── ──────
Total 3,485,376 1,481,617 4,966,993
────── ────── ──────
Expenditure On
6 Raising funds 1,631,845 - 1,631,845
7 Charitable activities
Housing advice and support 1,423,162 1,023,593 2,446,755
Learning 189,237 305,219 494,456
Recycling 96,017 152,805 248,822
Other 43,904 - 43,904
────── ────── ──────
Total 1,752,320 1,481,617 3,233,937
────── ────── ──────
Net income/(expenditure) 101,211 - 101,211
20 Transfers between funds - - -
────── ────── ──────
Net movement in funds 101,211 - 101,211
RECONCILIATION OF FUNDS
Total funds brought forward 115,178 1,938 117,116
────── ────── ──────
Total funds carried forward 216,389 1,938 218,327
══════ ══════ ══════

23

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

14 Tangible fixed assets Tenancy
Improvements property Fixtures and Computer
to property assets Fittings Equipment Totals
Cost: £ £ £ £ £
At 1 April 2021 136,278 104,504 33,059 65,163 339,004
Additions - 29,957 - 530 30,487
Disposals - - - - -
────── ────── ────── ────── ──────
At 31 March 2022 136,278 134,461 33,059 65,693 369,491
────── ────── ────── ────── ──────
Depreciation:
At 1 April 2021 66,438 78,310 19,562 50,998 215,308
Charge for the year 9,978 29,571 2,699 8,746 50,994
Eliminated on disposal - - - - -
────── ────── ────── ────── ──────
At 31 March 2022 76,416 107,881 22,261 59,744 266,302
────── ────── ────── ────── ──────
Net book value:
At 31 March 2022 59,862 26,580 10,798 5,949 103,189
══════ ══════ ══════ ══════ ══════
At 31 March 2021 69,840 26,194 13,497 14,165 123,696
══════ ══════ ══════ ══════ ══════
15 Debtors: amounts falling due within one year 2022 2021
£ £
Debtors and accrued income 530,268 537,542
Prepayments 67,993 44,160
────── ──────
598,261 581,702
══════ ══════
16 Creditors: Amounts falling due within one year 2022 2021
£ £
Other loans (see note 18) 90,439 70,590
Trade creditors 191,657 103,063
SPAYE/NI 49,912 51,388
VAT 2,612 1,857
Other creditors 15,927 15,959
Deferred income 147,320 263,508
AAccrued expenses 9,911 22,633
────── ──────
507,778 528,998
══════ ══════
17 Creditors: Amounts falling due within one year 2022 2021
£ £
Other loans (see note 18) 41,034 108,964
══════ ══════

24

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

18 Loans

An analysis of the maturity of loans is given below:

An analysis of the maturity of loans is given below:
2022 2021
£ £
Amounts falling due within one year on demand:
Other loans 90,439 70,590
══════ ══════
Amounts falling between one and two years
Other loans – 1-2 years 41,034 67,931
══════ ══════
Amounts falling due between two and five
Other loans – 2-5 years - 41,033
══════ ══════

These loans are secured by charges over the assets of the charity.

19 Leasing Agreements

Leasing Agreements
Minimum lease payments under non-cancellable operating leases fall due
as follows: 2022 2021
£ £
Within one year 20,633 26,120
Between one and five years 36,653 49,974
In more than five years 869,880 1,016,612
────── ──────
927,166 1,092,706
══════ ══════

20 Movement in Funds

Movement in Funds
Net movement Transfers
At 1.4.21 In funds Between funds At 31.3.22
£ £ £ £
Unrestricted funds
General fund 216,389 16,059 - 232,448
────── ────── ────── ──────
216,389 16,059 - 232,448
Restricted funds
Jean Conway Trust 1,258 - - 1,258
Howitt Homeless Trust 230 - - 230
Community Legal Services 450 - - 450
Development Fund
────── ────── ────── ──────
1,938 - - 1,938
────── ────── ────── ──────
Total Funds 218,327 16,059 - 234,386
══════ ══════ ══════ ══════

25

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

20 Movement in Funds - Continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement in
Resources Expended Funds
£ £ £
Unrestricted funds
General fund 3,367,867 (3,351,808) 16,059
KMC Exchequer Services Grant 72,782 (72,782) -
KMC Stronger Families 19,360 (19,360) -
Foundation Housing Wakefield Pathways 11,174 (11,174) -
Advice Services Grant 159,069 (159,069) -
Calderdale FHSF Grant 63,259 (63,259) -
Community Justice 51,801 (51,801) -
Job Retention Scheme 1,190 (1,190) -
MHCLG AFO Grant 12,511 (12,511) -
────── ────── ──────
3,759,013 (3,742,954) 16,059
Restricted funds
Local Welfare Provision – Food 191,408 (191,408) -
Local Welfare Provision - Furniture 184,554 (184,554) -
Adult and Community Learning 7,256 (7,256) -
Kirklees Better Outcomes Project 1,011,428 (1,011,428) -
Works Better – ESIF 157,415 (157,415) -
────── ────── ──────
1,552,061 (1,552,061) -
────── ────── ──────
Total Funds 5,311,074 (5,295,015) 16,059
══════ ══════ ══════

26

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

20 Movement in Funds - Continued

20Movement in Funds - Continued
Comparatives for movement in funds
Net movement Transfers
At 1.4.20 In funds Between funds At 31.3.21
£ £ £ £
Unrestricted funds
General fund 115,178 101,211 - 216,389
────── ────── ────── ──────
115,178 101,211 - 216,389
Restricted funds
Jean Conway Trust 1,258 - 1,258
Howitt Homeless Trust 230 - - 230
Community Legal Services 450 - - 450
Development Fund
────── ────── ────── ──────
1,938 - - 1,938
────── ────── ────── ──────
Total Funds 117,116 101,211 - 218,327
══════ ══════ ══════ ══════
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement in
Resources Expended Funds
£ £ £
Unrestricted funds
General fund 3,064,945 (2,963,734) 101,211
KMC Exchequer Services Grant 72,782 (72,782) -
KMC Stronger Families 19,360 (19,360) -
Foundation Housing Wakefield Pathways 33,521 (33,521) -
Advice Services Grant 156,718 (156,718) -
Advice UK & Lottery Grant – Covid response 44,790 (44,790) -
Community Justice – Covid response 57,719 (57,719) -
Job Retention Scheme 24,831 (24,831) -
Esmee Fairbairn Grant 9,000 (9,000) -
Third Sector Leaders 1,710 (1,710) -
────── ────── ──────
3,485,376 (3,384,165) 101,211
Restricted funds
Local Welfare Provision – Food 5.708 (5,708 -
Local Welfare Provision - Furniture 147,097 (147,097) -
Adult and Community Learning 19,147 (19,147) -
Kirklees Better Outcomes Project 1,005,785 (1,005,785) -
Works Better – ESIF 286,072 (286,072) -
Tenant Finder Plus 17,808 (17,808) -
────── ────── ──────
1,481,617 (1,481,617) -
────── ────── ──────
Total Funds 4,966,993 (4,865,782) 101,211
══════ ══════ ══════

27

FUSION HOUSING KIRKLEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

31 MARCH 2022

21 Contingent liabilities

The charity provides tenancy bond guarantees under its Bond Guarantee Scheme. Total payments made in the year in relation to bond claims was £2,400 (2021: £740) and the aggregate amount reserved for at 31 March 2022 was £17,242 (2021: £14,317). No further reserves are considered necessary.

22 Related Party Disclosures

There were no related party transactions for the year ended 31 March 2022 (2021 none).

28

FUSION HOUSING KIRKLEES LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 MARCH 2022

2022 2021
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
INCOME AND ENDOWMENTS
DDonations and legacies
Donations 12,322 - 12,322 15,629
Other trading activities
RRents and housing benefit 3,162,782 - 3,162,782 2,981,136
Investment income
Deposit account interest 7 - 7 22
CCharitable activities
Course delivery fees - 7,526 7,526 19,147
Legal help and court duty 192,486 - 192,486 68,160
GGrants 391,416 1,544,535 1,935,951 1,882,899
────── ────── ────── ──────
583,902 1,552,061 2,135,963 1,970,206
────── ────── ────── ──────
Total incoming resources 3,759,013 1,552,061 5,311,074 4,966,993
EXPENDITURE
Other trading activities
Tenancy costs 1,788,363 - 1,788,363 1,631,845
────── ────── ────── ──────
Charitable activities
Wages 1,146,085 1,092,999 2,239,084 2,142,942
Pensions 56,671 54,046 110,717 102,194
Beneficiary costs - 24,168 24,168 3,884
Beneficiary course costs - 1,051 1,051 1,856
Travel and subsistence - 17,646 17,646 24,603
Training - 4,548 4,548 3,816
Interpreter fees 5,841 - 5,841 2,871
Legal Aid disbursements - 32,468 32,468 4,283
LWP food - 36,966 36,966 26,801
LWP Furniture - 105,071 105,071 57,253
────── ────── ────── ──────
1,208,597 1,368,963 2,577,560 2,386,707
Expenditure carried forward 2,996,960 1,368,963 4,365,923 4,018,552

29

FUSION HOUSING KIRKLEES LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 MARCH 2022

2022 2021
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
Expenditure brought forward 2,996,960 1,368,963 4,365,923 4,018,552
Support costs
DManagement
W
Wages		 285,227 71,307 356,534 299,983
Pensions 16,499 4,125 20,624 19,037
Rent, rates and water 161,071 40,268 201,339 182,864
RInsurance 22,441 5,610 28,051 29,177
LLight and heat 9,395 2,349 11,744 16,779
Postage, stationery and telephone 79,005 19,751 98,756 85,372
Books and subscriptions 12,380 3,095 15,475 16,524
Repairs and maintenance 35,030 8,757 43,787 42,872
CComputer expenses 31,665 7,916 39,581 39,225
Health and safety 7,957 1,989 9,946 9,248
Motor expenses - 5,806 5,806 5,793
Depreciation of tangible and heritage assets 40,795 10,199 50,994 49,714
Recruitment 7,680 1,920 9,600 6,739
Committee expenses 24 6 30 -
LLoan interest 14,661 - 14,661 17,726
────── ────── ────── ──────
723,830 183,098 906,928 821,053
CFinance
Sundries 448 - 448 3,147
Bank charges 5,184 - 5,184 4,471
────── ────── ────── ──────
5,632 - 5,632 7,618
Governance costs
Auditors’ remuneration 7,000 - 7,000 7,000
Legal fees 9,532 - 9,532 11,559
────── ────── ────── ──────
16,532 - 16,532 18,559
────── ────── ────── ──────
Total resources expended 3,742,954 1,552,061 5,295,015 4,865,782
────── ────── ────── ──────
Net income/(expenditure) 16,059 - 16,059 101,211
══════ ══════ ══════ ══════