## **Midshire Supported Housing Trust** **Charity No. 1167887** **Company No. 08848785** **Trustees' Report and Unaudited Accounts** **31 January 2021** **Midshire Supported Housing Trust Contents** ||Pages| |---|---| |Trustees' Annual Report|2-3| |Statement of Financial Activities|4| |Summary Income and Expenditure Account|5| |Balance Sheet|6| |Statement of Cash flows|9-13| |Notes to the Accounts|9-13| |Detailed Statement of Financial Activities|14-15| Page 1 **Midshire Supported Housing Trust Trustees Annual Report** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2020. 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 (FRS102) (effective 1 January 2015). ## OBJECTIVES AND ACTIVITIES ## Objectives and activities The Charity’s objectives are to work in partnership with individuals with social and mental problems and communities to maximize the positive impact we have on peoples lives, promoting independence and full participation in society. In setting our objectives and planning our activities he Trustees have given careful consideration to the Charity to commission public benefit guidance. ## ACHIEVEMENT AN PERFORMANCE ## Charitable activities During the year under review the charity has accommodated and supported 131 individuals. ## FINANCIAL REVIEW ## Financial position The charity achieved a surplus of £75,648 At the end of the period the charity had general funds of £98,086 Because the charity is funded by the local authority and receives funds on a regular basis throughout the year, the trustees feel that reserves will build up to a sufficient level within a matter of months. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The charity 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. ## Appointment of trustees Trustees selection process is by interview. Candidates are selected on the basis of their specific knowledge and experience covering a wide range of skills including social work, legal and finance with the purpose of building a team able to advise and participate in the running of the charity. ## REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Number 08848785 (England and Wales) ## Registered Charity Number 1167887 Page 2 **Midshire Supported Housing Trust Trustees Annual Report** ## **Registered Office** 320 First Floor Witton Road Aston Birmingham West Midlands B6 6NX ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: A. Akram A.S. Bhopal N. Mir ## **Accountants** Keytax Accountants 220-222 Warwick Road B11 2NB The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board A. Akram Trustee 01 January 2021 Page 3 **Midshire Supported Housing Trust Statement of Financial Activities** ## **for the year ended 31 January 2021** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
Charitable activities
4
Other
5
**Total**
**Expenditure on:**
Charitable activities
6
Other
7
**Total**
Net gains on investments
**Net income**
8
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
534,578
26,000
26,128|**Restricted**
**funds**
**2021**
**£**
-
-
-|**Total funds**
**2021**
**£**
534,578
26,000
26,128|**Total funds**
**2020**
**£**
323,755
28,500
42| |---|---|---|---|---| ||586,706
34,205
476,853|-
-
-|586,706
34,205
476,853|352,297
12,084
334,080| ||511,058
-|-
-|511,058
-|346,164
-| ||75,648
-|-
-|75,648
-|6,133
-| ||75,648|-|75,648|6,133| ||75,648
22,438|-
131,500|75,648
153,938|6,133
147,805| ||98,086|131,500|229,586|153,938| Page 4 **Midshire Supported Housing Trust Summary Income and Expenditure Account** ## **for the year ended 31 January 2021** |Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2021**
**£**
586,706
586,706
498,643
12,415
511,058
75,648
75,648|**2020**
**£**
352,297| |---|---|---| |||352,297| |||339,286
6,878| |||346,164| |||6,133| |||6,133| Page 5 **Midshire Supported Housing Trust Balance Sheet** ## **at 31 January 2021** |**Company No.**
**08848785**
**Notes**
**2021**
**£**
**Fixed assets**
Tangible assets
10
37,246
37,246
**Current assets**
Debtors
11
241,362
Cash at bank and in hand
10,270
251,632
**Creditors:**Amount falling due within one year
12
(9,292)
**Net current assets**
242,340
**Total assets less current liabilities**
279,586
**Creditors:**Amounts falling due after more than one year
13
(50,000)
**Net assets excluding pension asset or liability**
229,586
**Total net assets**
229,586
**The funds of the charity**
**Restricted funds**
14
Restricted income funds
131,500
131,500
**Unrestricted funds**
14
General funds
98,086
98,086
**Reserves**
14
**Total funds**
229,586|**2020**
**£**
20,636| |---|---| ||20,636
167,340
952| ||168,292
(34,990)| ||133,302
153,938
-| ||153,938| ||153,938| ||131,500| ||131,500
22,438| ||22,438| ||153,938| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 January 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 01 January 2021 And signed on its behalf by: A. Akram Trustee 01 January 2021 Page 6 **Midshire Supported Housing Trust Notes to the Accounts** ## **for the year ended 31 January 2021** - 1 **Accounting policies** ## **Basis of preparation** The financial statements 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 7 **Midshire Supported Housing Trust Notes to the Accounts** ## **Expenditure** - Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 8 **Midshire Supported Housing Trust Notes to the Accounts** ## **Research and development** Expenditure on research and development is written off in the year in which it is incurred. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. Page 9 **Midshire Supported Housing Trust Notes to the Accounts** ## 3 **Income from donations and legacies** |4
**Income from charitable activities**
5
**Other income**
6
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
_Governance costs_|**Unrestricted**
**£**
534,578
534,578
**Unrestricted**
**£**
26,000
26,000
**Unrestricted**
**£**
25,901
227
26,128|**Total**
**2021**
**£**
534,578
534,578
**Total**
**2021**
**£**
26,000
26,000
**Total**
**2021**
**£**
25,901
227
26,128|**Total**
**2020**
**£**
323,755| |---|---|---|---| ||||323,755| ||||**Total**
**2020**
**£**
28,500| ||||28,500| ||||**Total**
**2020**
**£**
-
42| ||||42| ||||| ||**Unrestricted**
**£**
27,325
6,880
34,205|**Total**
**2021**
**£**
27,325
6,880
34,205|**Total**
**2020**
**£**
11,065
1,019| ||||12,084| Page 10 **Midshire Supported Housing Trust Notes to the Accounts** ## 7 **Other expenditure** |Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
**Net income before transfers**
This is stated after charging:
Depreciation of owned fixed assets
9
**Staff costs**
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
10 **Tangible fixed assets**
**Cost or revaluation**
At 1 February 2020
Additions
At 31 January 2021
**Depreciation and**
**impairment**
At 1 February 2020
Depreciation charge for the
year
At 31 January 2021
**Net book values**
At 31 January 2021
At 31 January 2020|**Unrestricted**
**£**
49,049
8,567
394,906
12,415
8,316
3,600
476,853
**2021**
**£**
12,415
**2021**
48,178
871
49,049|**Total**
**2021**
**£**
49,049
8,567
394,906
12,415
8,316
3,600
476,853
**£**
52,030
29,025
81,055
31,394
12,415
43,809
37,246
20,636|**Total**
**2020**
**£**
33,211
5,874
262,476
6,878
7,653
17,988| |---|---|---|---| ||||334,080| ||||**2020**
**£**
6,878
**2020**
32,849
187| ||||33,036| ||||**£**
52,030
29,025| ||||81,055| ||||31,394
12,415| ||||43,809| ||||37,246| ||||20,636| Page 11 **Midshire Supported Housing Trust Notes to the Accounts** |11 **Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
12 **Creditors:**
amounts falling due within one year
Trade creditors
Corporation tax
Other taxes and social security
Loans from trustees
Other creditors
Accruals
13 **Creditors:**
amounts falling due after more than one year
Bank loans and overdrafts
14 **Movement in funds**
**At 1**
**February**
**2020**
**Restricted funds:**
**Restricted income funds:**
131,500
_Total_
131,500
**Unrestricted funds:**
**General funds**
22,438
**Total funds**
153,938|**2021**
**£**
39,862
131,500
70,000
241,362
**2021**
**£**
3,600
2,140
1,885
(2,569)
4,235
1
9,292
**2021**
**£**
50,000
50,000
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
586,706
586,706|**Resources**
**expended**
**£**
-
-
(511,058)
(511,058)|**2020**
**£**
35,840
131,500
-| |---|---|---|---| ||||167,340| ||||**2020**
**£**
1,600
2,140
4,365
-
5,185
21,700| ||||34,990| ||||**2020**
**£**
-| ||||-| ||||**At 31**
**January**
**2021**
**£**
131,500| ||||131,500| ||||98,086| ||||229,586| Page 12 **Midshire Supported Housing Trust Notes to the Accounts** ## 15 **Analysis of net assets between funds** |Fixed assets
Net current assets
Creditors due in more than one year and
provisions
16 **Reconciliation of net debt**
Cash and cash equivalents
Bank loans
Net debt|**Unrestricted**
**funds**
**£**
37,246
239,771
(50,000)
227,017
**At 1**
**February**
**2020**
**£**|**Restricted**
**funds**
**£**
-
2,569
-
2,569
**Cash flows**
**£**|**Total**
**£**
37,246
242,340
(50,000)| |---|---|---|---| ||||229,586| ||||**At 31**
**January**
**2021**
**£**| ||952|9,318|10,270| ||952
-
-
952|9,318
(50,000)
(50,000)
(40,682)|10,270
(50,000)| ||||(50,000)| ||||(39,730)| ## 17 **Commitments** ## _**Operating lease commitments**_ Annual commitments under non-cancellable operating leases are as follows: ||**2021**|**2021**|**2020**|**2020**| |---|---|---|---|---| ||**Land and**
**buildings**|**Other**|**Land and**
**buildings**|**Other**| ||**£**|**£**|**£**|**£**| |Operating leases with expiry date:||||| |**_Pension commitments_**||||| |||**2021**||**2020**| |||**£**||**£**| |The pension cost charge to the company||||| |amounted to:||871||187| ## 18 **Related party disclosures** ## _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 13 **Midshire Supported Housing Trust Detailed Statement of Financial Activities** ## **for the year ended 31 January 2021** |**Income and endowments from:**
Donations and legacies
Charitable activities
Other
**Total income and endowments**
**Expenditure on:**
Charitable activities
**Total of expenditure on charitable**
**activities**
Employee costs
Salaries/wages
Pension costs
Staff training
Motor and travel costs
Vehicles - General costs
Vehicles - Fuel
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance|**Unrestricted**
**funds**
**2021**
**£**
534,578
534,578
26,000
26,000
25,901
227
26,128
586,706
27,325
6,880
34,205
34,205
48,178
871
-
49,049
8,487
80
8,567
330,200
9,313
8,465
9,568
10,028
27,332
394,906|**Total funds**
**2021**
**£**
534,578
534,578
26,000
26,000
25,901
227
26,128
586,706
27,325
6,880
34,205
34,205
48,178
871
-
49,049
8,487
80
8,567
330,200
9,313
8,465
9,568
10,028
27,332
394,906|**Total funds**
**2020**
**£**
323,755| |---|---|---|---| ||||323,755| ||||28,500| ||||28,500| ||||-
42| ||||42| ||||352,297
11,065
1,019| ||||12,084| ||||12,084
32,849
187
175| ||||33,211| ||||5,874
-| ||||5,874| ||||218,500
8,637
3,104
3,950
14,076
14,209| ||||262,476| Page 14 **Midshire Supported Housing Trust Detailed Statement of Financial Activities** General administrative costs, |including depreciation and
amortisation
Depreciation of
Bank charges
Equipment leasing and hire
charges
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|22,438
98,086|12,415
1,382
-
2,814
480
119
3,521
20,731
3,600
-
3,600
476,853
511,058
-
75,648
75,648
-
75,648
131,500
131,500|12,415
1,382
-
2,814
480
119
3,521
20,731
3,600
-
3,600
476,853
511,058
-
75,648
75,648
-
75,648
153,938
229,586|6,878
260
886
2,663
-
113
3,731| |---|---|---|---|---| |||||14,531| |||||6,000
11,988| |||||17,988| |||||| |||||334,080| |||||346,164
-| |||||6,133| |||||6,133
-| |||||6,133| |||||147,805| |||||153,938| Page 15