2023
WESSMAPS HOUSING TRUST TRUSTEES REPORT
1. The Structure, Governance and Management of the Charity
The Governance of management of the charity is as follows: Three Trustees and the Chief Executive officer who shall automatically (“ex officio”) be a charity trustee, for as long as he or she holds that office.
Richard McKeown – (Chairman)
Nicola Cavanagh – (HR/Finance)
Trudy McKeown – (Governance)
Mrs Jane Lockey – (Chief Executive Officer)
The Board appointed Rowles & Co as the Charities Accountants to oversee the Charities financial affairs during this accounting period:
1[st] April 2022 – 31[st] March 2023.
2. ACHIEVEMENT AND PERFORMANCE The objects of the CIO are:
Charitable activities
The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wight, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community; enabling them to financially meet housing costs; enabling fair access to private rental housing provisions; providing access to interest free loans to fund housing deposits and home set up costs; the provision of additional housing management services all of which such persons could not afford through lack of means.
3. PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in deciding what activities the charity should undertake.
4. ACHIEVMENTS AND PERFORMANCE
At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and ninety-one tenancies providing housing support to people across with the different local authorities. WHT has increased the tenancy portfolio to one hundred and ninety-seven, providing twenty-three new additional tenancies and additional support to new tenants. During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire. Whilst we have not extended working relationships with any new local authorities, we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire.
5. FINANCIAL REVIEW
Incoming resources totalled £609,315 (Previously: £535,667) for the period and resources expended were £521,586 (Previously: £459,588) giving a surplus of £87,729 (Previously: surplus £76,109) for the period.
The finances of the Charity were reviewed by the Trustees during this period of accounting. No anomalies were brought to the attention of the Board or reported at this time.
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2023 FOR WESSMAPS HOUSING TRUST ROWLES & CO UNIT 104 SOLENT BUSINESS CENTRE MILLBROOK ROAD WEST SOUTHAMPTON 5015 OHW
WESSMAPS HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnanclal Statements 8-14 Detailed Statement of Financial Activities 15
WESSMAPS HOUSING TRUST FOR THE YEAR ENDED 31 MARCH 2023 Page I The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 IFRS 1021 (effective l January 20151. OBJECTIVES AND ACTIVITIES Objertives and alms The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing Services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wi8ht, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community.. enabling them to financially meet housing costs; enabling fair access to private rental housing provisions,. providin8 acce5S to interest free loans to fund housing deposits and home set UP C05ts,' the provision of addition31 housing management services all of which such persons could not afford through lack of means. Publlc beneflt The Trustees confirm that they have complied with the duty in section 17151 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in deciding what activities the charitv should undertake. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and sixty three tenancies providing housing SUPPOrt to people across with the different local atjthorities. WHT has increased the tenancy portfolio to one hundred and ninety one. providing twenty eight new additional tenancies and additional 511PPOrt to new tenants. During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire. Whi15t we have not eytended working relation5hip5 Wlth any new local authoritie5 we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire. FINANCIAL REVIEW Incoming resources totalled £609.315 (Prev.. £536.2001 for the period and resources expended were £521,586 (Prev.. £460,091) giving a surplu5 of £87,729 IPrev= Surplus £76,109) for the period.
WESSMAPS HOUSING TRUST Page 2 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees aim to ensure that sufficient reserves are held for the purpose for ensuring the continuation of the services and activities of the charity. STRUCTURE. GOVERNANCE AND MANAGEMENT Governln8 d(Kument The charity is governed by a constitution adopted on 13 March 2014. The Governance and management of the charity is as follows. Three Trustees and the Chief Executive officer whom shall automatically l.ex officlo") be a charity trustee, for as long as he oi she holds that office. Mrs Nicola Cavanagh l HR/Financel Mrs Trudy McKeown I Commerciall Mr Richard McKeown Ichairl Mrs Jane Lockev Ichief Executive) Overall management of the charity 15 the responsibility of the trustees who are eletted and to-opted under the terms of the constltution. Day to day project activity is managed and carried out by its paid staff.
WESSMAPS HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Page 3 REFERENCE ANDADMINISTRATIVE DETAILS Registered company number CE001071 (England and Wales) Reglstered Charlty number 1156164 Registered Office 406 Solent Btjsiness Centre 343 Millbrook Road West Southampton Hampshire S015 OHW Trustees Mr5 Nicola Cavanagh l HR/Financel Mrs Trudy McKeown I Commerciall Mr Richard McKeown (Chairl Mrs lane Lockev (Chief Executive) Independent Examiner Rowles and co Unit 104 Solent Business Centre Millbrook Road West Southampton S015 OHW Approved by order of the board of trustees on .............................................And signed on its behalf by: Mr Richard McKeown (Chairl
INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OF WESSMAPS HOUSING TRUST Page 4 Independent examinerfs report to the trustees of Wessmaps Housing Trust 1.the CompanVI I report to the tharity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. Responsibilitie5 and basis of report As the charity'5 trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111.the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examinerfs statement In tonnection with my examination, no matter ha5 come to my attention to indicate that.. • accounting records have not been kept in accordance with section 386 of the Companies Act 2006,. the accounts do not accord with such records: • where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP IFRS1021,' • any matter which the examiner believes should be drawn to the attention of the rea¥Jer to gain a proper understanding of the accounts. Rowles and Co Unit 104 Solent Business Centre Millbrook Road West Southampton 5015 OHW Date.........................................
WESSMAPS HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Page 5 2023 Total Funds 2022 Total Funds Unrestricted Note5 Fund Restricted Fund INCOME ANO ENDOWMENTS FROM Charitable artivitles Property Management 608,580 608,580 536,200 Investment income 734 734 Total 609.315 609,315 536.21)0 EXPENDITURE ON Raising funds Charitable activities Property Management Governance Costs 35,217 35,217 43,405 479,849 6.520 479,849 6,520 414,511 2,175 Total 521,586 521,586 460,091 NET INCOMEIEXPENDITUREI 87,729 87,729 76,109 RECONCILIATION OF FUNOS Total funds brought forward 202,067 202,067 125,958 TOTAL FUNDS CARRIED FORWARD 289,796 289,796 202,067 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities
WESSMAPS HOUSING TRUST BALANCE SHEET AT 31 MARCH 2023 Page 6 2023 Total Funds 2022 Total Funds Unrestrlcted Notes Fund Restrlcted Fund FIXED ASSETS Tangible assets io 20.429 20.429 24.8 CURRE ASSErs Debtors Cash in hand li 610,019 105.968 610,019 105.968 389,285 130,127 715.987 715.987 519.412 CREDITORS Amounts falling due within one year 12 446,621 446,621 342,145 NETCURRENT ASSETS 269,365 269,365 177,267 TOTAL ASSETS LESS CURRENT LIABILITIES 289,795 289,795 202,067 NET ASSETS 289.795 289,795 202.067 FUNDS Restrlcted funds 13 289,796 202,067 TOTAL FUNDS 289,796 202.067
WESSMAPS HOUSING TRUST BALANCE sHE- CONTINUED AT 31 MARCH 2023 Page 7 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in atcordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and preparing financial Statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus OT deficit for each financial year in accordance with the requirements of Sections 394 and 395 and v4hich otherwise comply with the requirements of the Companies Act 2¢6 relating to financial statements, so far as applicable to the charitv companv. These financlal statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatin8 to charitable small companies. The financial statements were approved by the Board of Trustees on ........................................and were signed on its behalf by.. Mr Richard McKeown (Chairl
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page 8 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021-Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I january 20151" Financial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland~ and the Companies Act 2006 The financial statements have been prepared under the historical cost of convention. The flnanclal statements are prepared in sterling, which is the financial currency of the Charity. Monetary amounts in these financial statements are rounde¢J to the nearest £1. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. There have been no transltional adjustments. Income All income Is recognised in the Statement of Financlal Activities once the charlty has entltlement to the funds. it 15 probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there Is a legal or constructive obligation commlttSng 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 ha5 been cla55ified under headings that aggregate all cost 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. Governance Costs Governance costs are included in the Statement of Financial Activities on an accrual basis, exclusive of Value Added Tax.
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page 9 Tangible fixed assets Depreciation 15 provided at the following annual rates in order to write off the Cost less estimated residual value of each asset over its estimated useful life. Computer Equipment Motor Vehicles 20% straight line 20% straight line All assets costing more than £400 are capitalised. Taxatlon The charity is exempt from corporation tax on its charitsble activities.
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 10 ACCOUNTING POLICIES- continued Fund Accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee5. Restricted funds can only be used for particular restricted purposes within the objerts of the charitv. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purp05e5. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon Costs and other post-ret5rement beneffts 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. INVESTMENT INCOME 2023 2022 Bank interest 734 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Property Management Property Management Property Management Property Management Management fees IRS GrantslEmployment Allowance Property management Fees Other income 597,120 5,000 6,460 494,623 37,968 3,609 608,580 536.200 CHARITABLE ACTIVITIES cosrs Support costs (see note 51 Totals 2023 Property Management Governance Costs 479,849 6,520 486,369 479,849 6,520 486.369
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUEO FOR THE YEAR ENDED 31 MARCH 2023 Page 11 SUPPORT COSTS Go¥ernan¢e Costs Management Other Totals Property Management Governante Costs 479,849 479,849 6,520 6,520 479,849 6,520 486,369 NET INCOME/IEXPENDITUREI Net incomellexpenditurel is stated after chargingllcreditingl.. 2023 2022 Depreciation-owned assets 10.036 8,903 TRUSTEES, REMUNERATION ANO BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees Expenses There were no trustees, expenses paid for the year-ende(J 31 March 2023, the same for the year ended 31 March 2022. STAFFING The average monthly number of employees during the year was as follows.. 2023 N¢. 2022 No. Administration 16 13
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS~ CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 12 COMPARATIVES FOR THE STATEMENT OF FINANCIAL A1vlEs Unrestricted Fund Restrlcted Fund Total Funds INCOMEAND ENDOWMENTS FROM Charitable activities Property Management 536.200 536,200 Investment Income TOTAL 536.200 536.200 EXPENDITURE ON Charitable activities Property Management Other trading activities Interest payable Governance Costs 413,978 43,405 533 2,175 413,978 43,405 533 2,175 TOTAL 460.091 460.091 NET INCOME/IEXPENDITUREI 76,109 76,109 RECONCILIATION OF FUNDS Total Fund5 brought forward 125,958 125,958 TOTAL FUNDS CARRIED FORWARO 202,067 202.067 10. TANGIBLE FIXED ASSETS Motor Vehi¢le$ Computer Equlpment Total COST At l April 2022 Additions At 31 March 2023 OEPRECIATION At l April 2022 Charge for year At 31 March 2023 24,5(K) 20,014 5,665 25,679 44,514 5,665 50,179 24,500 8,288 4,900 13,188 11,426 5,136 16,562 19,714 10,036 29,750 NET BOOK VALUE At 31 March 2023 11.312 9.117 20,429 At 31 March 2022 16.212 8.588 24.800
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 13 11. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade Debtors Other Debtors 367,017 243,002 240,180 149,105 610,019 389,285 12. CREOITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade Creditors Social Security and other taxes Other Creditors Accrued expenses 7,101 8,032 429,188 2.300 2,710 7,053 327,782 4,600 446,621 342,145
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 14 13. MOVEMENTOF FUNDS Net movement in funds At 1.4.22 At 31.3.23 Un Restricted funds Restricted funds 202,067 87,729 289,796 TOTAL FUNDS 202,067 87,729 289,796 Net movement In funds. Included In the abwe are as lollows". Incoming Resource5 Resources Expended Movement in funds Un Restricted funds Restricted funds 609,315 1521,5861 87,729 TOTAL FUNDS 609.315 1521,5861 87.729 Comparatl¥es for movement In funds Movement In funds At 1.4.21 At 31.3.22 Un Restricted funds Restritted funds 125,958 76,109 202,067 TOTAL FUNDS 125.958 76.109 202.067 Comparatlve net movement In funds, Included In the above are as follows: Incomin8 Resources Resources Expended Movement In funds Restricted funds Restricted funds 536,2 1460,0911 76,109 TOTAL FUNDS 536,21XI 1460,0911 76,109 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023.
WESSMAPS HOUSING TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Page 15 2023 2022 INCOMEAND ENDOWMENTS Investment income Bank interest 734 Charitable activlties Management Fees IRS GrantslEmployment Allowance Property management Fees Other Income Total Incomlng resources 597.120 5,000 6,460 494,623 37,968 3,609 609.315 536.200 EXPENDITURE Other tradin8 artivitles Void Rent Service Charge cost5 35,217 43,405 35,217 43,405 Support Costs Management Wages So¢Sal Securlty Pensions Rent Insurance Telephone Postage and stationery 364,553 33,098 10,901 12.489 2,092 3,423 3,329 318,413 26,195 9,691 9,477 260 2,796 2,060 k il Sundries Computer and software Rates and water Professional Fees Premises Expenses Bank Charges Depreciation of tangible assets Travel and subsistence Motor costs AdvertisinE 5,440 5,143 904 1,423 891 249 10,036 14,689 10.095 1,079 6,071 802 4,639 286 165 8,903 10,643 12.498 Other Interest payable 1,092 533 Governance Costs Accountancy and legal fee5 6,520 2,175 486.369 521,586 416,686 460.091 Totsl Resources expended Net lexpendlturellncome 87,729 76,109
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2023 FOR WESSMAPS HOUSING TRUST ROWLES & CO UNIT 104 SOLENT BUSINESS CENTRE MILLBROOK ROAD WEST SOUTHAMPTON 5015 OHW
WESSMAPS HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnanclal Statements 8-14 Detailed Statement of Financial Activities 15
WESSMAPS HOUSING TRUST FOR THE YEAR ENDED 31 MARCH 2023 Page I The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 IFRS 1021 (effective l January 20151. OBJECTIVES AND ACTIVITIES Objertives and alms The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing Services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wi8ht, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community.. enabling them to financially meet housing costs; enabling fair access to private rental housing provisions,. providin8 acce5S to interest free loans to fund housing deposits and home set UP C05ts,' the provision of addition31 housing management services all of which such persons could not afford through lack of means. Publlc beneflt The Trustees confirm that they have complied with the duty in section 17151 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in deciding what activities the charitv should undertake. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and sixty three tenancies providing housing SUPPOrt to people across with the different local atjthorities. WHT has increased the tenancy portfolio to one hundred and ninety one. providing twenty eight new additional tenancies and additional 511PPOrt to new tenants. During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire. Whi15t we have not eytended working relation5hip5 Wlth any new local authoritie5 we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire. FINANCIAL REVIEW Incoming resources totalled £609.315 (Prev.. £536.2001 for the period and resources expended were £521,586 (Prev.. £460,091) giving a surplu5 of £87,729 IPrev= Surplus £76,109) for the period.
WESSMAPS HOUSING TRUST Page 2 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees aim to ensure that sufficient reserves are held for the purpose for ensuring the continuation of the services and activities of the charity. STRUCTURE. GOVERNANCE AND MANAGEMENT Governln8 d(Kument The charity is governed by a constitution adopted on 13 March 2014. The Governance and management of the charity is as follows. Three Trustees and the Chief Executive officer whom shall automatically l.ex officlo") be a charity trustee, for as long as he oi she holds that office. Mrs Nicola Cavanagh l HR/Financel Mrs Trudy McKeown I Commerciall Mr Richard McKeown Ichairl Mrs Jane Lockev Ichief Executive) Overall management of the charity 15 the responsibility of the trustees who are eletted and to-opted under the terms of the constltution. Day to day project activity is managed and carried out by its paid staff.
WESSMAPS HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Page 3 REFERENCE ANDADMINISTRATIVE DETAILS Registered company number CE001071 (England and Wales) Reglstered Charlty number 1156164 Registered Office 406 Solent Btjsiness Centre 343 Millbrook Road West Southampton Hampshire S015 OHW Trustees Mr5 Nicola Cavanagh l HR/Financel Mrs Trudy McKeown I Commerciall Mr Richard McKeown (Chairl Mrs lane Lockev (Chief Executive) Independent Examiner Rowles and co Unit 104 Solent Business Centre Millbrook Road West Southampton S015 OHW Approved by order of the board of trustees on .............................................And signed on its behalf by: Mr Richard McKeown (Chairl
INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OF WESSMAPS HOUSING TRUST Page 4 Independent examinerfs report to the trustees of Wessmaps Housing Trust 1.the CompanVI I report to the tharity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. Responsibilitie5 and basis of report As the charity'5 trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111.the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examinerfs statement In tonnection with my examination, no matter ha5 come to my attention to indicate that.. • accounting records have not been kept in accordance with section 386 of the Companies Act 2006,. the accounts do not accord with such records: • where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP IFRS1021,' • any matter which the examiner believes should be drawn to the attention of the rea¥Jer to gain a proper understanding of the accounts. Rowles and Co Unit 104 Solent Business Centre Millbrook Road West Southampton 5015 OHW Date.........................................
WESSMAPS HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Page 5 2023 Total Funds 2022 Total Funds Unrestricted Note5 Fund Restricted Fund INCOME ANO ENDOWMENTS FROM Charitable artivitles Property Management 608,580 608,580 536,200 Investment income 734 734 Total 609.315 609,315 536.21)0 EXPENDITURE ON Raising funds Charitable activities Property Management Governance Costs 35,217 35,217 43,405 479,849 6.520 479,849 6,520 414,511 2,175 Total 521,586 521,586 460,091 NET INCOMEIEXPENDITUREI 87,729 87,729 76,109 RECONCILIATION OF FUNOS Total funds brought forward 202,067 202,067 125,958 TOTAL FUNDS CARRIED FORWARD 289,796 289,796 202,067 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities
WESSMAPS HOUSING TRUST BALANCE SHEET AT 31 MARCH 2023 Page 6 2023 Total Funds 2022 Total Funds Unrestrlcted Notes Fund Restrlcted Fund FIXED ASSETS Tangible assets io 20.429 20.429 24.8 CURRE ASSErs Debtors Cash in hand li 610,019 105.968 610,019 105.968 389,285 130,127 715.987 715.987 519.412 CREDITORS Amounts falling due within one year 12 446,621 446,621 342,145 NETCURRENT ASSETS 269,365 269,365 177,267 TOTAL ASSETS LESS CURRENT LIABILITIES 289,795 289,795 202,067 NET ASSETS 289.795 289,795 202.067 FUNDS Restrlcted funds 13 289,796 202,067 TOTAL FUNDS 289,796 202.067
WESSMAPS HOUSING TRUST BALANCE sHE- CONTINUED AT 31 MARCH 2023 Page 7 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in atcordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and preparing financial Statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus OT deficit for each financial year in accordance with the requirements of Sections 394 and 395 and v4hich otherwise comply with the requirements of the Companies Act 2¢6 relating to financial statements, so far as applicable to the charitv companv. These financlal statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatin8 to charitable small companies. The financial statements were approved by the Board of Trustees on ........................................and were signed on its behalf by.. Mr Richard McKeown (Chairl
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page 8 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021-Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I january 20151" Financial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland~ and the Companies Act 2006 The financial statements have been prepared under the historical cost of convention. The flnanclal statements are prepared in sterling, which is the financial currency of the Charity. Monetary amounts in these financial statements are rounde¢J to the nearest £1. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. There have been no transltional adjustments. Income All income Is recognised in the Statement of Financlal Activities once the charlty has entltlement to the funds. it 15 probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there Is a legal or constructive obligation commlttSng 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 ha5 been cla55ified under headings that aggregate all cost 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. Governance Costs Governance costs are included in the Statement of Financial Activities on an accrual basis, exclusive of Value Added Tax.
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page 9 Tangible fixed assets Depreciation 15 provided at the following annual rates in order to write off the Cost less estimated residual value of each asset over its estimated useful life. Computer Equipment Motor Vehicles 20% straight line 20% straight line All assets costing more than £400 are capitalised. Taxatlon The charity is exempt from corporation tax on its charitsble activities.
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 10 ACCOUNTING POLICIES- continued Fund Accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee5. Restricted funds can only be used for particular restricted purposes within the objerts of the charitv. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purp05e5. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon Costs and other post-ret5rement beneffts 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. INVESTMENT INCOME 2023 2022 Bank interest 734 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Property Management Property Management Property Management Property Management Management fees IRS GrantslEmployment Allowance Property management Fees Other income 597,120 5,000 6,460 494,623 37,968 3,609 608,580 536.200 CHARITABLE ACTIVITIES cosrs Support costs (see note 51 Totals 2023 Property Management Governance Costs 479,849 6,520 486,369 479,849 6,520 486.369
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUEO FOR THE YEAR ENDED 31 MARCH 2023 Page 11 SUPPORT COSTS Go¥ernan¢e Costs Management Other Totals Property Management Governante Costs 479,849 479,849 6,520 6,520 479,849 6,520 486,369 NET INCOME/IEXPENDITUREI Net incomellexpenditurel is stated after chargingllcreditingl.. 2023 2022 Depreciation-owned assets 10.036 8,903 TRUSTEES, REMUNERATION ANO BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees Expenses There were no trustees, expenses paid for the year-ende(J 31 March 2023, the same for the year ended 31 March 2022. STAFFING The average monthly number of employees during the year was as follows.. 2023 N¢. 2022 No. Administration 16 13
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS~ CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 12 COMPARATIVES FOR THE STATEMENT OF FINANCIAL A1vlEs Unrestricted Fund Restrlcted Fund Total Funds INCOMEAND ENDOWMENTS FROM Charitable activities Property Management 536.200 536,200 Investment Income TOTAL 536.200 536.200 EXPENDITURE ON Charitable activities Property Management Other trading activities Interest payable Governance Costs 413,978 43,405 533 2,175 413,978 43,405 533 2,175 TOTAL 460.091 460.091 NET INCOME/IEXPENDITUREI 76,109 76,109 RECONCILIATION OF FUNDS Total Fund5 brought forward 125,958 125,958 TOTAL FUNDS CARRIED FORWARO 202,067 202.067 10. TANGIBLE FIXED ASSETS Motor Vehi¢le$ Computer Equlpment Total COST At l April 2022 Additions At 31 March 2023 OEPRECIATION At l April 2022 Charge for year At 31 March 2023 24,5(K) 20,014 5,665 25,679 44,514 5,665 50,179 24,500 8,288 4,900 13,188 11,426 5,136 16,562 19,714 10,036 29,750 NET BOOK VALUE At 31 March 2023 11.312 9.117 20,429 At 31 March 2022 16.212 8.588 24.800
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 13 11. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade Debtors Other Debtors 367,017 243,002 240,180 149,105 610,019 389,285 12. CREOITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade Creditors Social Security and other taxes Other Creditors Accrued expenses 7,101 8,032 429,188 2.300 2,710 7,053 327,782 4,600 446,621 342,145
WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Page 14 13. MOVEMENTOF FUNDS Net movement in funds At 1.4.22 At 31.3.23 Un Restricted funds Restricted funds 202,067 87,729 289,796 TOTAL FUNDS 202,067 87,729 289,796 Net movement In funds. Included In the abwe are as lollows". Incoming Resource5 Resources Expended Movement in funds Un Restricted funds Restricted funds 609,315 1521,5861 87,729 TOTAL FUNDS 609.315 1521,5861 87.729 Comparatl¥es for movement In funds Movement In funds At 1.4.21 At 31.3.22 Un Restricted funds Restritted funds 125,958 76,109 202,067 TOTAL FUNDS 125.958 76.109 202.067 Comparatlve net movement In funds, Included In the above are as follows: Incomin8 Resources Resources Expended Movement In funds Restricted funds Restricted funds 536,2 1460,0911 76,109 TOTAL FUNDS 536,21XI 1460,0911 76,109 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023.
WESSMAPS HOUSING TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Page 15 2023 2022 INCOMEAND ENDOWMENTS Investment income Bank interest 734 Charitable activlties Management Fees IRS GrantslEmployment Allowance Property management Fees Other Income Total Incomlng resources 597.120 5,000 6,460 494,623 37,968 3,609 609.315 536.200 EXPENDITURE Other tradin8 artivitles Void Rent Service Charge cost5 35,217 43,405 35,217 43,405 Support Costs Management Wages So¢Sal Securlty Pensions Rent Insurance Telephone Postage and stationery 364,553 33,098 10,901 12.489 2,092 3,423 3,329 318,413 26,195 9,691 9,477 260 2,796 2,060 k il Sundries Computer and software Rates and water Professional Fees Premises Expenses Bank Charges Depreciation of tangible assets Travel and subsistence Motor costs AdvertisinE 5,440 5,143 904 1,423 891 249 10,036 14,689 10.095 1,079 6,071 802 4,639 286 165 8,903 10,643 12.498 Other Interest payable 1,092 533 Governance Costs Accountancy and legal fee5 6,520 2,175 486.369 521,586 416,686 460.091 Totsl Resources expended Net lexpendlturellncome 87,729 76,109