Registered Charity Number :_ 1167887 MIDSHIRE SUPPORTED HOUSING TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR END 31 January 2024 MIDSIIJRE SUPPORI'ED HOUs1,G I'RUSI, 320 First Floor Ivitton Road Biriniiigliam
IIDSHIRE SUPPORTED HOUSING TRUST CONTENTS FOR THE YEAR ENDED 31 Jai)uary 2024 Pages TRUSTEES'REPORT.................................................................................................................................. STATEMENT OF FINANCIAL AlvITIES................................................................................................. BALANCE SHEET............................................................................................................................................. NOTES TO THE FINANCIAL STATEMENTS........................................................................................ 6- 14
IIIIDSHTRE SUPPORTED HOUSINC TRUST TRUSTEES, REPORT FOR'fHE YEAR ENDED 31 Jaiiuary 2024 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) {efftIve l January 2015). 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 impad we have on peoples lives, promoting indq)endence and full participation in society. In setting our objectives and planning our activities he Trustees have given careful consideration to the CbarAty to commission public benefit guidance. ACHIEVEMEIYT AN PERFORMANCE Charltable activltfies DurAng the year und¢r r¢view the charity has accommodated and supported 102 individuals. FINANCIAL REVIEW FIDAnelal posltlon During the reporting period, th¢ charity recorded a deficit of £108,233.54. This deficit primarily stems from substantial investments in building renovations and the acquisilion of new equipment and furnishings for residents. These improvements were necessary to enhance the living conditions and 8ervi¢¢s provided to our beneficiaries. At the end of the period, the charity maintained general funds amounting to £245,109. Despite the current deficit, the trust¢¢s remain confident ill the charity's financial stability due to the regular funding r¢¢eAved from the local authorAty. This consistent funding stream ensures that the charity can meet its operational necds and gradually rebuild reserv over th¢ coming months. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The chlty is controlled by its governing docum¢nL a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Cornpanies Act 2(X)6. Appointment of trugteei TnLStees' selection process is by intenriew. Candidates are selected on the basis of their specific knowledge and expcrience covering a wid¢ Tange of skills including social wo, lcgal and fmancc with the purpose of building a team able to advise and participate in the rLmning of the charity.
IIIIDSHIRE SUPPORTED HOUSING TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 Jaiiuary 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Number 08848785 (England and Wales) Reg15tered Charlty Number 1167887 Regl8tered Office 320 First Floor Witton Road Aston Birn]ingham West Midlands Dlrectors and Truslees The Directors of the charitable company ar¢ its TTUStees for the purposes of charity law. The following Directors and Trustees served durin8 the year". A. Akram A.S. Bhopal Keytsx Accountants Ltd 22(k222 WaThvick Road B112NB Th¢ Thstees are wible for keepAng proper a¢¢ounting cOrdS that disc1( with reth)nable accww at any time the financial w)sition of the charity to enable them to ensu that the financial statements comply with the Comparries A¢t 2006. The Trustees are also mnSibl¢ for safegudIng the assets of the chatity and taking reasonable sS for the prevention and detethion of fraud and other iTfe8ularities. The above report has been prepared in acconlanc¢ with the provisions appli(able to companies subject to the small comparries, regin)e &8 set out in Part 15 of the Companies Act 2006 aNI in accordance with the amities SORP (FRS 102}. sI¢d on behalf of the board 27 JaDuary 2025
IIIIDSHIRE SUPPORTED HOUSING TRUST STATEMEN'T OF FI,ANCIAL ACTIVITIES FOR TEIE YF.AR ENDED 31 Jaiiuary 2024 Recommended categories by acllvity Income and endowments from: Notes Unrestrlcted fuDds Totsl Funds 2024 Total Funds 2023 Donations and legacies Tot 443,580.20 443,580.20 523,156.76 443,580.20 443580.20 523,156.76 Eipendlture on: Raising funds Charitsble activities 149975.08 149975.08 52,488.96 62993.29 62993.29 101,053.00 338.845.37 338,845.37 332,729.35 Total 551,813.74 551,813.74 486,271Jl Net Incomel(expendlture) Net movement In funds (108233.54) {108233.54) (108,233.54) 36,885.45 (108233.54) 36,885.45 Reconclllallon of funds: Total ndS brought forward Total fund$ carrled forward 353,342.16 353,342.16 316,456.71 245,108.62 245,108.62 353,342.16
MIDSHIRE SUPPORI'LD HOUSING TRUST BALANCE SHEET FOR THE YEAR ENDED 31 Jaiiiiaiy 2024 Recommended categories by actfvity Unrestrleted funds Notes Total Funds 2024 Total Funds 2023 Fixed assets Tangible assets Total fixed asiets 32.175.66 32,175.66 39.938.05 31175.66 32,175.66 39,938.05 CUnt &%sets Debtors 255,447.00 255,447.00 360,447.00 Cash at bank and in hand 10 18,587.36 18,587,36 13.835.83 Total current a$iets 274,034.36 274,034J6 374,282.83 Creditors: amounts falling due within one year Net current assetslolabllltl Total gssets less current Ilabllitl 60,141.40 60,141.40 38,959.00 2J3092.96 213,892.96 335a23.83 246,068.62 246,068.62 375,2618 Creditors: amounts falling due after one year Total net assets or Ilabllldei 12 960.CK) 960.00 21,919.72 245,108.62 245,108.62 353J42.16 Funds of the ChArlty UnrestrACted funds 13 245.108.62 245,108.62 353.342.16 Restricted income funds 13 Endowment fimd8 13 Total funds 245,108.62 245.108.62 353,342.16 These accounts have been preped in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small Com1¢8. Forthe year&]dol 31 January 2021 the entitled to exanption under wtion 477 ofthe Act 2006 rekning to small wmpanies.
IIIDSHIRE SUPPORTED HOUSING TRUST BALANCE SHEET FOR THE YEAR FNDED 31 J(Iiiiiary 2024 Art2(Kl6. Th¢ direc ackllowledge their res0X)bIlitieS for complying the ofthe Comprn Act 2006 with respect to accounling and thc prwatton of accou. Alyov by the boa on 27 Jaway 2U25 And sId on its behalfty. TrLLStee 27 January 2025
MIDSHIRE SUPPORTED HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Janiiary 2024 l Accounting Policies 1.1 Accounting Pollcles The principal accounting lIcIeS adopted by the Charity, wbich is a public benefit entity. in the preparation of the a¢Unts are as follows. 1.2 Basfis of preparation These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable propertA&q and fixed asset investments and investmenl properties at valuation. These accounls have been prepared in accordance with "Accounting and Rq)orting by Charities: Statement of Recomm¢nded Practice applicable to cljarities PrepIng their accounts in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented ID pounds sterling and rounded to the nearest pound. 1.3 Golng Concern The Trustses have prepared fwancial projections, taking into consideration the ¢urrent economic conditions and have, at the lime of approving these accounts, a reasonable expectation that the charity has adequate resowces to continue in operational existence for the foTese¢able future. Thus they continue to adopt the going con(xrn basis of accounting in preparing the accounts.
MIDSHIRE SUPPORTED HOusITc TRUST NOTES TO THE FINATcIAL STATEMENTS FOR THE YEAR ENDED 31 Jai]iry 2024 2 Income from Donations and Legacies Unrestslcted funds Totfdl funds 2024 Totsl funds 2023 Analysis L¢gleS Other 443.580.20 443.580.20 482,956.76 40,200.00 523,156.76 443.580.20 443,580.20 3 Expenditure on Raising Funds Total funds 2024 Tolal funds 2023 Analys18 Rent Collectio property repairs and nIntenanCe charges Wages and sa]aries Support Costs 3,562.93 42,725.08 42,725.08 48,926.04 52,488.96 4 Expenditure on Charitable Activities Total fund8 2024 Total funds 2023 Analysls Charity management & administration Charity running cost Bank charges Legallprofessional fees Support Costs 5,440.00 l6,997.81 80.21 5,201.15 22,456.93 368.88 20,500.00 52,526.04 101,053.00 46,325.08 68,843.10 5 Support Costs Total funds 2024 Total fund$ 2023 Analysls Wages and salaries Governanee Costs Accountants fees 85,450.16 97,852.07 3,600.00 89,050.16 3,600.00 101,4S2.07
MJDSHIRE SUPPORTED HOUSING TRUST NOTES TO THE FINANTCIAL STATEMENTS FOR THE YEAR ENDED 31 JaiiiiY 20?4 6 Other Expenditure Unrestrieted funds Total funds 2024 Total funds 2023 Analysls Other Exnditllre Depr¢¢iation Charge for the Year- Fixtures & Filtings 102,066.18 18J02.39 102.066.18 18,502.39 17J92.95 Jnsuranc¢ Light and heat TTav¢l and Motor Rent Rates Software Stationery and printing Telephone 18,227.56 5,927.74 469.76 292,650.00 18,227.56 5.927.74 469.76 292,650.00 13,724.33 1,409.87 3253.74 280.948.95 10,362.33 560.00 2,012.74 3,064.44 332,729.35 2,40I,93 440,245.56 2,401.93 440,245.56 10
MIDSHIRE SUPPORTED HoUSI,G TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Jantiary 2024 7 Tangible Fixed Assets 7.1 Cost or valuation Fixtures & Fittlngs At 01 Febnwy 2023 Additions 113,555.00 10,740.00 Disposals Revaluations Transfer5 At 31 January 2024 124.295.00 7.2 Amortlsatlon and impalrments Fixtures & Flttings At 01 February 2023 Addition8 73,616.95 18,502.39 Disposals Revaluations Transfers At 31 January 2024 7.3 Net book value 92,119.34 Flxtures & Flttlngs At 01 February 2023 At 31 January 2024 39,938.05 32,175.66 8 Debtors: Amounts falling due within one year Total funds 2024 Total funds 2023 Trade debtors 53,947.1K) 53.947.00 11
MIDSHIRE SUPPORTED HOuS1,G TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Janiiary 2024 9 Debtors: Amounts fallRng due after one year Total funds 2024 Total fuDds 2023 Other debtors Prepats & accrued income 131.500.00 70.000.00 201.500.00 290,447.CK) 70,000.00 360,447.00 10 Cash at bank and in hand Total fvnds 2024 Total funds 2023 Cash at bank and on hand 18,587.36 18,587.36 13,835.83 13,835.83 I I Creditors: Amounts falling due within one year Total funds 2024 Totsl funds 2023 Bank loans and ov¢rdrafts Trade creditors Taxation & Social Security 38,959.00 3600.00 960.00 4560.00 38,959.00 12 Creditors: Amounts falling due after one year Total funds 2024 Total funds 2023 Taxation & Social Security Bank Loan & Overdraft Other creditOTS 4.337.32 38,959.00 17,582.40 56,541.40 17,582.40 21.919.72 12
MIDSHIRE SUPPORTED HOuS1,c TRUST NOTES TO THE FINAI%TCIAL STATEMENTS FOR THE YEAR ENI)ED 31 January 2024 13 Charity funds 13.1 Details of material funds held and movements durlng the CURRENT reporting period Fund balances brought forward Gains And Ios8e8 Fund balances ¢arried fonvard Income Expenditure Transfers Fund names Unrestrlcted funds 353.342.16 443,580.20 (551,813.74) 353,342.16 443,580.20 (551,813.74) 245,108.62 Total 245.108.62 13.2 Detalls of material funds held and movements durlng the PREVtOUS reportlng perlod Fund balances brought forward Galns Expendlture Transfers and losses Fund balance8 ¢arrled forward Income Fund names Unrestricted funds 316,456.71 523,156.76 (486,271.31) 316,456.71 523,156.76 (486,271.31) 353,342.16 Total 353,342.16 13J Transfers between fundi Thls Year Amount Between unrestri¢t¢d and restricted funds Between endowment and restricted funds Between endowrnent and unrestrictsd funds 13
MIDSHIRE SUPPORTED HOUSINC TRUS NOTES TO THE FINANTCIAL STATEMENTS FOR THE YEAR ENDED 31 Jaiiiiary 2024 Last Year Amount Between unrestrict¢d and restrict¢d funds Between endowment and restricted fimds Between endowment and unrestricted funds 14