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||||||Page|
|---|---|---|---|---|---|
|Reference and administrative|||details ofthe Charity,|its Trustees and advisers||
|Trustees'
report|||||2-10|
|Independent|auditors'|report|on the financial statements||11 - 13|
|Consolidated|statement|offinancial activities|||14|
|Consolidated|balance sheet||||15|
|Charity balance sheet|||||16|
|Consolidated|statement|ofcash flows|||17|
|Notes to the|financial statements||||18-36|
##
##
|Trustees|||TJ M Clark, Chair|TJ M Clark, Chair|||
|---|---|---|---|---|---|---|
||||D R Bindert||||
||||N V De-Costa||||
||||P K Gill (resigned 29|||September 2020)|
||||P B Hibbert (resigned|||8 December 2020)|
||||R ikram (appointed||12December 2019)||
||||K L Moore||||
||||N Owen||||
||||D J Saunders||||
||||N Sunder||||
|Company
number|registered||09244172||||
|Charity registered
number|||1163098||||
|Registered||office|Hestia House
22 Old Walsall|Road|||
||||Birmingham||||
||||B42 1DT||||
|Company|secretary||DJ Bradley||||
|Group Chief Executive|||DJ Bradley||||
|Independent||auditors|Dains LLP
15Colmore Row||||
||||Birmingham||||
||||B32BH||||
|Solicitors|||Anthony
Collins Solicitors||||
||||134Edmund|Street|||
||||Birmingham||||
||||B32ES||||
||||Higgs 8 Sons
3 Waterfront|Business Park|||
||||Brierley
Hill||||
||||Dudley||||
||||DY5 1LX||||
|Bankers|||Barclays Bank Pic||||
||||66 Oxford Street||||
||||Kidderminster||||
||||DY10 1BL||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2020|2020
E|2020
E|2019|
|Income from:|||||||
|Donations
and legacies
Charitable
activities
Other income||4
5
6|117,779
8,744,305
237,885|352,927
52,596|470,706
8,796,901
237,885|315,070
6,916,851
77,806|
|Total income|||9,099,969|405,523|9,505,492|7,309,727|
|Expenditure
on:|||||||
|Charitable
activities|||7,594,543|437,764|8,032,307|6,803,336|
|Total expenditure|||7,594,543|437,764|8,032,307|6,803,336|
|Net movement
in funds|||1,505,426|(32,241)|1,473,185|506,391|
|Reconciliation
offunds;|||||||
|Total funds
brought
forward
Net movement
in funds|||1,049,093
1,505,426|383,090
(32,241)|1,432,183
1,473,185|925,792
506,391|
|Total funds carried|forward||2,554,519|350,849|2,905,368|1,432,183|
##
##
##
##
|For the Year Ende|d 30 Se|ptember
2020||||||
|---|---|---|---|---|---|---|---|
||||||2020||2019|
||||Note||F|||
|Fixed assets
Tangible assets|||14||651,876||385,355|
||||||651,876||385,355|
|Current assets
Debtors
Cash at bank and|in hand||16|1,452,559
1,461,307||1,270,530
423,090||
|||||2,913,866||1,693,620||
|Creditors: amounts|falling|due within one|17|(558,963)||(640,044)||
|year||||||||
|Net current assets|||||2,354,903||1,053,576|
|Total assets less|current|liabilities|||3,006,779||1,438,931|
|Creditors: amounts
than one year|falling|due after more|18||(101,411)||(6,748)|
|Total net assets|||||2,905,368||1,432,183|
|Charity funds
Restricted
funds
Unrestricted
funds|||20
20||350,849
2,554,519||383,090
1,049,093|
|Total funds|||||2,905,368||1,432,183|
##
##
##
||||Note||2020||2019|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets
investments|||14
15||651,876||385,355|
|Current assets|||||651,876||385,355|
|Debtors
Cash at bank and|in hand||16|1,452,658
1,461,208||1,270,586
423,034||
|||||2,913,866||1,693,620||
|Creditors: amounts|falling|due within one||||||
|year|||17|(558,963)||(640,044)||
|Net current assets||||||||
||||||2,354,903||1,053,576|
|Total assets less current
Creditors: amounts
falling||liabilities
due after more|||3,006,779||1,438,931|
|than one year|||18||(101,411)||(6,748)|
|Total net assets||||||||
||||||2,905,368||1,432,183|
|Charity funds||||||||
|Restricted
funds
Unrestricted
funds|||20
20||350,849
2,554,519||383,090
1,049,093|
|Total funds||||||||
||||||2,905,368||1,432,183|
##
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##
|For the Year Ended 30 Sept|ember 2020|||||
|---|---|---|---|---|---|
|||||2020|2019|
||||||E|
|Cash flows from operating
activities
Net cash provided
by operating
activities||||1,267,017|579,234|
|Cash flows from investing
activities
Purchase
oftangible
fixed assets||||(338800)|(214836)|
|Net cash used
in investing|activities|||(338,800)|(214,836)|
|Cash flows from financing|activities|||||
|Cash inflows from new borrowing||||120,000|(90,000)|
|Repayments
of borrowing||||||
|Net cash provided
by/(used|in) financing||activities|120000|(90000)|
|Change
in cash and cash
Cash and cash equivalents|equivalents
in
at the beginning||the year
of the year|1,038,217
423,090|274,398
148,692|
|Cash and cash equivalents|at the end|of|the year|1 461 307|423 090|
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||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2020|2020|2020|
|||||||F||
|Donations
Grants|||||3,450||3,450|
|Government|grants||||114,329|352,927|352,927
114,329|
|Total donations||and legacies 2020|||117,779|352,927|470,706|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2019f|2019|2019|
|Donations
Grants|||||7,942||7,942|
|||||||307,128|307,128|
|Total donations||and legacies 2019|||7,942|307,128|315,070|
|Income from charitable|||activities|||||
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2020
f|2020|2020f|
|Rent, eligible
income|service charges and property|||management|8,744,305|52,596|8,796,901|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2019|2019|2019|
||||||||E|
|Rent, eligible service charges and property
income||||management|6,672,168|244,683|6,916,851|
##
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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2020|2020|
|||||F|
|Modern day slavery
Other miscellaneous||funding
income|17,996
219,889|17,996
219,889|
||||237,885|237,885|
||||Unrestncted|Total|
||||funds|funds|
||||2019f|2019
F|
|Modern
day slavery
Other miscellaneous||funding
income|41,554
36,252|41,554
36,252|
||||77,806|77,806|
##
|Analysis|of expenditure|by expenditure
typ|e||||
|---|---|---|---|---|---|---|
|||Staff costs
2020|Depreciation
2020|Other costs
2020|Total
2020|Total
2019|
|Housing
Support|provision
costs|913,529
978788
1 892317|40,587
29337
69 924|5,678,418
391 648
6 070066|6,632,534
1 399 773
8 032307|5,709,474
1 093862
6 803336|
|Total 2019||1 362923|45 057|5395346|6803336||
##
##
||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
||Staff training
and expenses||||||38,693|33,083|
||Property lease costs|and|write-offs||||4,244,713|3,339,988|
||Property costs||||||1,186,074|1,154,589|
||Managing
Agents' fees||||||255,612|221,988|
||Bad debt allowance||||||(46,674)|317,029|
||Wages and salaries||||||829,323|558,763|
||National
insurance||||||84,206|56,274|
||Depreciation
on vehicles,||leasehold||property,|fixtures and fittings|40,587|27,760|
||||||||6,632,534|5,709,474|
|9.|Support costs||||||||
||||||||2020|2019|
||||||||F||
||Administrative
staff expenses||||||62,343|62,869|
||Office costs||||||183,896|134,961|
||Vehicle running
costs|and|sundry|support costs|||19,509|15,993|
||Marketing
costs||||||7,474|2,642|
||Consultancy
costs and|bank charges|||||31,681|29,565|
||ITcosts||||||57,177|35,730|
||Audit and accountancy|fees|||||16,620|24,140|
||Legal and professional|fees|||||6,925|20,069|
||Interest payable||||||6,023|2,710|
||Wages and salaries||||||890,213|685,001|
||National
insurance||||||88,575|62,885|
||Depreciation
on office|and|computer||equipment||29,337|17,297|
||||||||1,399,773|1,093,862|
##
##
##
|10.|Net income/(expenditure)|||||
|---|---|---|---|---|---|
|||||2020|20'19f|
||Depreciation
of tangible
Depreciation
oftangible
Operating
lease rentals|fixed assets owned
by the charity
fixed assets held under finance leases||62,480
7,444
3953810|40,423
4,632
3,293,370|
|||||4,023,734|3,338,425|
##
##
##
##
##
|||Group
2020|G'roup
2019|Charity
2020|Charity
2019|
|---|---|---|---|---|---|
|||E|F|||
|Wages
Social|and salaries
security costs|1,719,536
172,781|1,243,764
119,159|833,784
172,781|548,525
119,159|
|||1,892,317|1,362,923|1,006,565|667,684|
||||Group|Group|
|---|---|---|---|---|
||||2020|2019|
||||No.|No.|
|Management|and|admin|11|10|
|Housing|||45|42|
|Maintenance|||6|4|
|Support|||27|12|
||||89|68|
|Group|Group|
|---|---|
|2020|2019|
|No.|No.|
##
##
##
##
|Group and Charity|||||||
|---|---|---|---|---|---|---|
||Long-term
leasehold
propertyf|Motor
vehicles|Fixtures
and
fittings|Computer
and office
equipment
F|Assets under
construction
E|Total|
|Cost or valuation
At 1 October 2019
Additions
Disposals|236,463
14,870|35,160
12,760|88,463
19,521
(3,072)|118,228
42,310|249,339|478,314
338,800
(3,072)|
|At 30 September 2020|251,333|47,920|104,912|160,538|249,339|814,042|
|Depreciation
At 1 October 2019
Charge
for the year
On disposals|16,485
12,643|18,368
8,353|21,389
19,591
(717)|36,717
29,337||92,959
69,924
(717)|
|At 30 September 2020|29,128|26,721|40,263|66,054||162,166|
|Net book value|||||||
|At 30 September 2020|222,205|21,199|64,649|94,484|249,339|651,876|
|At 30 September 2019|219,978|16,792|67,074|81,511||385,355|
##
##
##
##
|Name|||||||Company
number|Company
number|Registered
office|Registered
office|Principal
activity|Principal
activity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Spring|Community||||Homes|Limited|RS007733||Hestia|House,|To carry on, for|the benefit|
||||||||||Old|Walsall Road,|ofthe community,
the||
||||||||||Birmingham,
B42 1DT||business
of providing
and
managing
housing
and||
||||||||||||accommodation|for|
||||||||||||persons
in necessitous||
||||||||||||circumstances,|on a not|
||||||||||||for profit basis,||
|The financial|||results||ofthe|subsidiary|for the year|were:|||||
|Name||||||||||Income|Expenditure|Surplus|
||||||||||||donated to||
|||||||||||||parent|
|||||||||||||charityf|
|Spring|Community
Homes|||||Limited||||7,359,654|(6,576,489)|783,165|
|The subsidiary|||had net assets of ENil||||as at 30September 2020 (2019 - ENII),||||||
|Debtors|||||||||||||
|||||||||Group
2020||Group
2019|Charity
2020|Charity
2019|
|||||||||||||F|
|Due within||one||year|||||||||
|Trade debtors
Amounts
owed by group undertakings
Other debtors
Prepayments
and accrued income||||||||1,044,325
76,875
331,359||908,609
68,776
293,145|1,044,325
99
76,875
331,359|908,609
56
68,776
293,145|
|||||||||1,452,559||1,270,530|1,452,658
1,270,586||
##
##
##
|Creditors: Amounts
falling due within one y|ear||||
|---|---|---|---|---|
||Group
2020|Group
2019|Charity
2020|Charity
2019|
||E||E|E|
|Other loans
Trade creditors
Other taxation and social security|21,172
239,489
40,122|182,807
27,492|21,172
239,489
40,122|182,807
27,492|
|Obligations
under finance lease and hire
purchase
contracts
Other creditors
Accruals
and deferred
income|3,442
26,963
227,775|6,207
23,542
399,996|3,442
26,963
227,775|6,207
23,542
399,996|
||558,963|640,044|558,963|640,044|
##
|Creditors:|Am|ounts
falling due after more tha|n one year||||
|---|---|---|---|---|---|---|
||||Group
2020|Group
2019|Charity
2020|Charity
2019|
|||||E|E|E|
|Other loans|||98,828||98,828||
|Net obligations
under finance lease and hire
purchase
contracts|||2,583|6,748|2I583|6,748|
||||101,411|6,748|101,411|6,748|
##
##
##
|||||Group
2020|Group
2019|Charity
2020|Charity
2019|
|---|---|---|---|---|---|---|---|
||||||E||E|
|Financial|assets|||||||
|Financial|assets measured||at undiscounted|||||
|amounts|receivable|||2,582,507|1,400,475|2,582,507|1,400,531|
|||||Group
2020|Group
2019|Charity
2020|Charity
2019|
|||||P.||||
|Financial|liabilities|||||||
|Financial|liabilities|measured|at undiscounted|||||
|amounts|payable|||(500,252)|(578,050)|(500,252)|(578,050)|
|Financial|liabilities|measured|at amortised|||||
|cost||||(120,000)||(120,000)||
|||||(620,252)|(578,050)|(620,252)|(578,050)|
##
##
|20.|Statement
offunds|||||||
|---|---|---|---|---|---|---|---|
||Statement offunds
-current year|||||||
||||||||Balance at|
||||Balance at 1
October
2019|Income|Expenditure||30
September
2020|
||Unrestricted
funds|||||||
||General
Funds||1,049,093|9,099,969||(7,594,543)|2,554,519|
||Restricted funds
Midlands
Together (Hestia House)
Refugee Action SVPRS
Birmingham
LIF Fund
Big Lottery Fund Grant
Children
In Need Grant
WM Strategic Migration
Partnership
Worcester Council - Refugee Services||55,884
75,532
1,650
184,911
17,819
494
3,807|52,596
94,106
4,849
27,500||(2,497)
(122,802)
(1,650)
(122,415)
(6,074)
(26,707)
(3,807)|53I387
5,326
156,602
16,594
1,287|
||Birmingham
City Council - Production
Charter of Rights
Children
In Need Grant -Refugees
Nationwide
Postcode Lottery
Lottery Community
Fund
Homeless
Link
Commonweal
Funding
The Clothworkers
Foundation|ofthe|17,450
25,543|10,000
29,799
50,000
18,600
39,860
30,000
4,000
25,000
9,260||(27,450)
(40,549)
(34,172)
(1,330)
(7,335)
(30,000)
(4,000)
(121)
(6,195)|14,793
15,828
17,270
32,525
24,879
3,065|
||Lan daid
BCC - Mapping|||9,953||(660)|9,293|
||||383,090|405,523||(437,764)|350,849|
||Total of funds||1,432,'I83|9,505,492||(8,032,307)|2,905,368|
##
|20.|Statement
offunds (continued)||||||
|---|---|---|---|---|---|---|
||Statement
offunds
- prior year||||||
||||Balance at
1 October
2018|Income|Expenditure|Balance at
30
September
2019|
||Unrestricted
funds||||||
||General
Funds||800,961|6,757,916|(6,509,784)|1,049,093|
||Restricted funds||||||
||Midlands
Together (Hestia House)
Refugee Action SVPRS
Birmingham
LIF Fund
Big Lottery Fund Grant
Children
ln Need Grant
WM Strategic Migration
Partnership
Worcester Council - Refugee Services
Birmingham
City Council - Production|ofthe|58,381
47,802
1,650
7,538
9,460|228,715
800
207,969
13,947
13,750
16,000|(2,497)
(200,985)
(800)
(30,596)
(5,588)
(13,256)
(12,193)|55,884
75,532
1,650
184,911
17,819
494
3,807|
||Charter of Rights
Children
ln Need Grant -Refugees
Prospect Housing - Exempt Accommodation
Birmingham
8 Solihull Women's
Aid|||17,450
40,180
7,000
6,000|(14,637)
(7,000)
(6,000)|17,450
25,543|
||||124,831|551,811|(293,552)|383,090|
||Total offunds||925,792|7,309,727|(6,803,336)|1,432,183|
##
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##
|Analysis|of n|et assets between
funds - current|period|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2020|2020|2020|
||||E|||
|Tangible|fixed|assets|573,610|78,266|651,876|
|Current|assets||2,627,533|286,333|2,913,866|
|Creditors|due|within one year|(545,213)|(13,750)|(558,963)|
|Creditors|due|in more than one year|(101,411)||(101,411)|
|Total|||2,554,519|350,849|2,905,368|
##
##
##
|Analysis|of n|et assets between
funds - prior p|eriod|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2019|2019|2019|
|Tangible
Current|fixed
assets|assets|329,471
1,325,164|55,884
368,456|385,355
1,693,620|
|Creditors|due|within one year|(598,794)|(41,250)|(640,044)|
|Creditors|due|in more than one year|(6,748)||(6,748)|
||||1,049,093|383,090|1,432,183|
##
|Reconciliation
of ne|t movement|in funds|to net cash|flow from opera|ting
activities||
|---|---|---|---|---|---|---|
||||||Group
2020|Group
2019f|
|Net income for the period (as per||Statement|of Financial|Activities)|1,473,185|506,391|
|Adjustments
for:
Depreciation
charges
Increase
in debtors|||||69,924
(182,017)|45,057
(272,478)|
|Increase/(decrease)|in creditors||||(104,075)|300,264|
|Net cash provided|by operating|activities|||1,257,017|579,234|
|||Group|Group|
|---|---|---|---|
|||2020f|2019f|
|Cash|in hand|1,461,307|423,090|
|Total|cash and cash equivalents|1,461,307|423,090|
##
||||At 1
October
2019|Cash flows
f|New
borrowings|Repayment
offinance
leases|At 30
September
2020
E|
|---|---|---|---|---|---|---|---|
|Cash at bank and||in hand|423,090|925,147|120,000|(6,930)|1,461,307|
|Debt due within|1|year|(20)||(21,172)||(21,192)|
|Debt due after 1 year|||||(98,828)||(98,828)|
|Finance leases|||(12,955)|||6,930|(6,025)|
||||410,115|925,147|||1,335,262|
##
|Operating
lease|Operating
lease|commitments|commitments||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|At 30 September||2020 the Group||and|the|Charity
had
commitments
to||make|future|minimum
lease|
|payments|under non-cancellable||operating||leases as follows;||||||
|||||||Group|Group||Charity|Charity|
|||||||2020|'
2019||2020
2019||
|||||||F|||||
|Land and|buildings:||||||||||
|Not later than
1 year||||||1,277,112|1,277,112||203,669|203,669|
|Later than|1 year|and not later than||5 years||1,614,232|1,614,232||942,228|942,228|
|Later than|5 years|||||1,833,068|1,833,068|1,800,000||1,800,000|
|||||||4,724,412|4,724,412|2,945,897||2,945,897|
##
##