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← Wycombe Rent Deposit Guarantee Scheme

2024-03-31-accounts

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TRUSTEES’ ANNUAL REPORT

1[st] April 2023 – 31[st] March 2024

Celebrating 28 Years of Helping to prevent homelessness

The Office 2[nd] Floor, The Hub, Easton Street, High Wycombe, Bucks, HP11 1NJ

EMAIL: info@wycrent.org.uk TELEPHONE: 01494 528557 www.wrdgs.org.uk

Registered Charitable Incorporated Organisation - No. 1171222

1 Objectives and Activities

The Wycombe Rent Deposit Guarantee Scheme (WRDGS) is a charity set up for the relief of poverty amongst people who are homeless or inadequately housed in the Wycombe area. The Scheme provides guarantees for rent deposits, and other assistance on behalf of said persons who are in need of accommodation and who would otherwise be unable to secure accommodation in the Wycombe area.

The actions taken by the Scheme to meet its objectives include:

1. Providing a guarantee as an alternative to the cash deposit normally required by a landlord to secure a tenancy. The landlords can claim against the guarantee if they would be entitled to make deductions from a pre-paid deposit. This can help those who are able to pay rent, for example if they qualify for Universal Credit Housing Costs, but who cannot afford a deposit.

  1. Maintaining and sustaining existing tenancies by liaising with tenants, landlords, benefits agencies and other support bodies to pre-empt and address issues threatening a tenancy.

  2. Giving free, confidential advice on housing-related matters.

2 Background

The early planning stages of the Scheme were started in 1995 by a partnership between the members of The Wycombe District Council Housing Forum and The Source Group - a lay ecumenical Christian covenant community based in High Wycombe.

The Charity was registered in 1996 as a charitable trust but converted to being a Charitable Incorporated Organisation (CIO) for the year 2017-18. The charitable objects, staff and trustees remained the same, but a CIO is the recommended legal structure for a small charity like WRDGS.

At WRDGS’ inception it was agreed that Wycombe District Council (WDC) would provide an annual grant to pay for on-costs (the costs of employing staff), the churches of High Wycombe would contribute towards running costs and The Guinness Partnership Limited would set aside £30,000 to cover the guarantees.

WRDGS applies for an annual grant from the Council (which is now Buckinghamshire Council (BC)). The Council grant no longer fully covers on-costs, so the Scheme has to raise money from other grants, donations and fund-raising activities.

3 Achievements and Performance in 2023-24

In our area, the last 3 years have seen a rise in private rental prices of 31%. As Local Housing Allowance (LHA) rates have been frozen for 3 years, the gap between LHA rates and private sector market rents has grown even wider.

This, together with the rise in the cost of living, has meant that our clients have really struggled to source affordable accommodation. Although we still managed to house 52 households, we have seen a large increase in our tenancy sustainment and rescue work.

We are helping Buckinghamshire Council implement their Homelessness & Rough Sleeping Strategy. Our Operations’ Manager is Chair of the Rough Sleepers Core Group, which is a multi-agency group that meets fortnightly and assists rough sleepers to access suitable and

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appropriate housing. Using funds from the Rough Sleepers Initiative (a grant provided to BC by the Government), we assisted rough sleepers on their homelessness journey by either paying a month’s rent in advance or repaying previous arrears so they can access our local hostels. After a period of stability, we can then help them to find an affordable property in the private sector and can pay their first month’s rent and deposit. We also offer ongoing support to help them maintain their tenancy.

We also continued to provide specialist advice at Wycombe Homeless Connection’s weekly Legal Housing Clinic.

4 People helped by the Scheme in 2023-24

By the end of 2023-2024, the Scheme had HOUSED 1792 households, a total of 1965 adults and 759 children housed. Of these, 38 households (38 Adults and 2 children) were new to the Scheme and 12 households (12 Adults and 0 children) renewed their tenancies with the help of the Scheme.

By the end 2023-2024, the Scheme had RESCUED 706 clients’ tenancies. Of these 23 were new in 2023-2024. We have also helped to SUSTAIN 62 tenancies in order to keep clients in their accommodation who would have been at risk of becoming homeless.

The following case studies are based on real people, although names and details have been changed to preserve anonymity. Much of the work that we do is more complicated than simply housing someone:

Housed

A client was verified as sleeping rough due to a relationship breakdown. He was placed in emergency accommodation where he managed his tenancy really well. He was referred to us as he had a bad credit rating and was in receipt of benefits. He had proved that he was ready to live independently but kept failing referencing checks. We persuaded a landlord to give him a chance and, using funds from the Rough Sleepers Initiative, paid his first month’s rent in advance, covered his deposit and bought him some furniture. The landlord is very pleased with him and has just renewed his tenancy.

Housed Twice

We housed a client from a local hostel into a studio flat. Unfortunately, her Universal Credit claim was unfairly restricted which led to substantial rent arrears. We reassured her landlord that we would resolve the situation, so he postponed her eviction. After 9 months of negotiations, the DWP finally reassessed her claim and backdated her housing costs, which cleared her arrears. She then had a child and as the studio was now unsuitable, we helped her successfully apply for social housing. The landlord then re-let the property to another of our homeless clients.

Rescued Housed and Employed

A recently unemployed client was referred to us from the local Job Club as it appeared that her landlord was trying to illegally evict her. We supported her to claim Universal Credit and negotiated with her landlord to stop the illegal eviction. This gave us time to help her find a new property. We also heard of a local job vacancy that may suit her. She successfully applied for the job and is now no longer claiming benefits.

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5 Organisations who referred Clients to WRDGS during 2023-24

Buckinghamshire Council Housing Options Team

Buckinghamshire Council Customer Services Centre

Buckinghamshire Social Care

Citizens Advice Bureau

Connection Floating Support and RESET Services

Chiltern Adult Mental Health Team GP Surgeries - Social Prescribers

H.M. Prison

Job Centre Plus Oasis Partnership

Old Tea Warehouse

One YMCA

Padstones Probation

Private Sector Landlords

P3 Housing Support Service Saunderton Lodge Hostel Thames Valley Police

Wycombe Homeless Connection Wycombe Women’s Aid

Youth Enquiry Service

6 Organisations to whom WRDGS referred clients to during 2023-24

Buckinghamshire Council (buckinghamshire.gov.uk)

Central Aid Society (central-aid.org.uk)

Wycombe Homeless Connection (www.wyhoc.org.uk)

P3 - Changing lives every day (p3charity.org) Connection Support (connectionsupport.org.uk)

Vicars Relief Fund - St Martin-in-the-Fields | Supporting people away from homelessness (smitfc.org)

One YMCA High Wycombe Hostel (oneymca.org.uk)

Old Tea Warehouse (riverside.org.uk)

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7 Financial Review

In the 2023-24 financial year the total value of new guarantees written by the scheme was £8,333.44. By the end of 2023-24 the total value of Guarantees written by the Scheme since its inception was £ 440,594.48 with a total claim pay out of £4,863.26. This makes the Scheme’s average claim rate 1.10%

Review of the Charity’s Financial Position at the end of the Period

During 2023-24 the Scheme’s operation was financed by grants from:

We are very grateful to all of our donors and the effort people put in to raising funds for us. One lady made glass angels and sold them at craft fayres, others helped with our Tombola at a local fair (Downley Day) and many people kindly gave us extra donations around Christmas.

Apart from the funding which we needed in order to keep running, Buckinghamshire Council passed on to us money from a restricted grant which they had received from the Government to help to house those who are particularly difficult to house (the Move on Prevention Fund). We already received a restricted fund in 22-23 from the Council from the Rough Sleepers’ Initiative fund and we spent £19,315 of this during the year. Amongst other things, this has enabled us to pay off people’s rent arrears, give them money for their first month’s rent in advance, pay cash deposits if required and to buy essential furniture (eg. beds).

WRDGS has the following funds ear-marked for specific uses. These are documented on the Balance Sheet of the annual accounts.

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Funding for the Future

It is estimated that WRDGS will need £88,500 to run during the year 2024-25 (including money required to top-up its statutory liabilities for possible redundancy and sick pay).

Before the end of 2023-24, WRDGS had secured a grant from Buckinghamshire Council of £62,500 for 2024–25. This grant has remained the same since 2014 so a request for an increase will again be made during the next financial year.

Our fundraising was very successful towards the end of 23-24 and we secured some large grants as well as receiving much support from our local community which was very heartening. This means that we had £41,932 undesignated reserves at the end of 23-24 which meant that we could start 2024 in a more comfortable position than we started 2023.

WRDGS was noted as a key partner in Wycombe District Council’s Homelessness Strategy and has continued to collaborate with Buckinghamshire Council as it did with Wycombe District Council.

Policy for holding reserves and amounts at end of 2023–24

WRDGS has the following reserves:

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8 Structure, Governance and Management

WRDGS is a Charitable Incorporated Organisation (CIO) whose governing document is a constitution. As well as individual people applying to be trustees, the following organisations can nominate trustees for the charity:

The Scheme is managed by a steering committee comprising the trustees and its two members of staff.

The Scheme’s Steering Committee during 2023-24

Catriona Plummer Trustee nominated by Churches Together High Wycombe (Chair of trustees) Cllr. Paul Turner Trustee nominated by Buckinghamshire Council Nancy Bradshaw Trustee (Fundraising) Clive Bradshaw Trustee (Secretary) Eddie Maguire Trustee (Treasurer) Phil Thomas Operations Manager (paid member of staff) Tracey Thomas Client Servicing Officer (paid member of staff).

The trustees would like to thank the following people who donated their services free of charge:

Anthony Pearmain – Web site design and IT Consultant @ StratMetrix

Sharon Marshall - Keeping Books 4 U (Payroll)

Steven Potts – Independent Examiner of End of Year Accounts

We are very grateful to our many donors during 2023-24 who continued to support us in spite of the cost-of-living crisis.

9 Future Aims of the Scheme

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THE WYCOMBE RENT DEPOSIT GUARANTEE SCHEME STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31st MARCH 2024

INCOME AND EXPENDITURE
Note
INCOME
Donations inc Lotto
2
Gift Aid Tax Refund
BC Grant
3
Other Income & Grants
4
COIF Deposit Interest
Bank Interest
TOTAL INCOME (To Run The Organisation)
Restricted Funds for Housing People
7
TOTAL OVERALL INCOME
EXPENDITURE
Salaries & On-costs
Printing, Postage & Stationery
Telephone / IT
Travel & Parking
Subscriptions
Bank Charges
Rent
Insurance
PPE Equipment
Other
TOTAL EXPENDITURE (RUNNING COSTS)
Payments from Restricted Funds for Housing People
TOTAL OVERALL EXPENDITURE
NET SURPLUS (DEFICIT) FOR THE YEAR (RUNNING COSTS)
OVERALL NET SURPLUS (DEFICIT) FOR THE YEAR		 Total
31-Mar-24
9,321
80
62,500
42,000
476
533
114,910
31623
146,533
75,683
96
1,057
129
295
120
3,960
684
0
46
82,070
19,315
101,385
32,840
45,148		 Total
31-Mar-23
2,380
782
62,500
0
176
135
65,973
53590
119,564
71,563
87
884
127
295
121
3,810
860
0
66
77,813
16,359
94,172
(11,840)
25,392

Approved by the Board of Trustees on 30.11.2024

and signed on its behalf by C.A.Plummer - Chairman

WRDGS Accounts 2023/24

Page 1 of 5

THE WYCOMBE RENT DEPOSIT GUARANTEE SCHEME

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31st MARCH 2024

BALANCE SHEET
Note
CURRENT ASSETS
Current Account
COIF Deposit
RIA Account
Debtors & Prepayments
5
CURRENT LIABILITIES
Creditors & Accruals
6
NET CURRENT ASSETS
NET ASSETS
FUNDS
Guinness Fund
Redundancy Reserve
SSP Reserve
Other restricted funds (Move on Prevention)
7(b) & 8
(Rough Sleepers Initiative)
7(b) & 8
(BGS)
7(b) & 8
DPS fund
7(b) & 8
Undesignated Reserves
7(a)		 £
£
73,388
10,000
46,116
0
129,504
124
124
129,380
129,380
2,000
35,728
2,844
31,547
14,351
0
978
41,932
129,380
31-Mar-24		 £
£
30,019
10,000
45,803
280
86,102
1,869
1,869

84,233

84,233

2,000

31,700

2,583


33,591

11,235

978

2,146

84,233
31-Mar-23

WRDGS Accounts 2023/24

Page 2 of 5

THE WYCOMBE RENT DEPOSIT GUARANTEE SCHEME

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31/03/2024

1) ACCOUNTING POLICIES General

These accounts have been prepared under the historic cost convention and in accordance with applicable accounting standards and Statement of Recommended Practice on Accounting by Charities

2) DONATIONS (Incl Lotto)

Total Donations
Lotto
Donors
S.Connolly
Anon
N Hanbury
St Peter's Church Loudwater
W&C Plummer
Anon
M Sylvester
P Neale
K Russell
Union Baptist Church
St Augustine's Church
St Anne's Church
Downley Day
St Wulstan
Our Lady of Grace
C&W Bunting
P.Hogwood
J.Briggs
M.Bull
Downley Parish
Anon
P.Priestley
Collection at Wycombe Swan Theatre
Anon
V.Brewster
Anon
E.Ball
G&H Dodgson
EASY FUNDRAISING
Amazon
Gallagher
P.Crotty
Giveasyoulive
Online Giving (Kanadoo & Goodhub)
TOTAL
Breakdown of online giving
Squared Up match funding
E. Maguire
V. Barkaway
Anon
Anon
P. Priestley
B. Daly
D. Harvey
M. Patterson
J.Moore
Platform charges
Actual Received*		 £
9277
44
9321
150
100
120
450
1490
20
20
100
10
1000
556
500
385
236
203
240
240
180
100
100
100
120
75
50
50
50
70
60
84
28
700
20
17
1653
9277
1350
100
90
50
60
30
20
15
12
10
-84
1653*

WRDGS Accounts 2023/24

Page 3 of 5

THE WYCOMBE RENT DEPOSIT GUARANTEE SCHEME

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31/03/2024

3)
BC GRANT
Used towards staff salaries and on costs.		 62500
4)
OTHER INCOME & GRANTS
The Albert Hunt Trust
Rothschild Foundation
The National Lottery Community Fund
The Leathersellers Foundation
Total
5)
DEBTORS
6)
CREDITORS
P Thomas Expenses		 £
7000
10000
20000
5000
42000
£
0
0
£
124
124

WRDGS Accounts 2023/24

Page 4 of 5

7) MOVEMENTS IN FUNDS AND RESERVES

THE WYCOMBE RENT DEPOSIT GUARANTEE SCHEME

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31st MARCH 2024 Notes

7(a)
7(b)
7(c)		 Designated Reserves
O/Bal 1 April 2023
Movement in reserves / designated funds in the year
C/Bal 31 Mar 24
Restricted Funds
Presented combined in 22/23 accounts …....O/Bal 1 April 2023
Receipts 23/24
Payments 23/24
Movement in reserves / designated funds in the yearNote 8(a)
C/Bal 31 Mar 24
Undesignated Funds
O/Bal 1 April 2023
Net surplus for year
Movement to Statutory Redundancy and SSP reserves
Movement to undesignated reserve from BC Grant Scheme		 SSP
Redundancy
Guinness
Total
2,583
31,700
2,000
36,283
261
4,028
0
4,289
2,844
35,728
2,000
40,572
BGS
DPS
MOP
RSI
Total
11,235
978
33,590
45,804

31,547
76
31,623

(19,315)
(19,315)

(11,235)
(11,235)
0
978
31,547
14,351
46,876
2,146
32,840
(4,289)
11,235
41,932
RESTRICT
8(a)
8(b)
8(c)
8(d)		 ED FUNDS - GRANTS, PURPOSES & HISTORY
Grants to relieve homelessness, for specific actions or with specific constraints (i.e. not for running the charity)
BC Grant Scheme: restricted fund received from Buckinghamshire Council, primarily to pay rent in advance.Restrictions removed by the
Council in 23-24 and fund transferred to undesignated reserves.
DPS - Restricted fund donated by the Deposit Protection Service to assist with housing homeless people.
BC MOP - Move on Prevention fund with restrictions defined by the Government and has to be used to house people who are particularly difficult
to house.
RSI – Rough Sleepers Initiative funding allocated to WRDGS by Buckinghamshire Council from a restricted grant which they received from the
Government to be used to house people who are homeless.		 Receipts
Spend
50,000
(45,551)
10,000
(9,022)
81 Payments
2018-21/22		 Receipts
Spend
23,147
(16,360)
33,590
47 Payments
Years
2022/23		 Receipts
Spend
31,547
76
(19,315)
42 Payments
2023/24		 Remaining
11,235
978
31,547
14,351

8) RESTRICTED FUNDS - GRANTS, PURPOSES & HISTORY

WRDGS Accounts 2023/24

Page 5 of 5

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Wycombe Rent Deposit Guarantee S¢heme On accounts for the year ended 31 March 2024 Charity no (if any) 1171222 Set out on pages I report to thè trustees on my examination of the accounts of the above charity (Ihe TrusVI for the year endeil 3110312024. Responslbllltlos and basis of report As the charity's trustees, you are responsible for th8 preparation of th8 accounts in accordance wilh the requireménts ofth8 Charities Act 2011 {￿he Act"). I report in resp8Ct of my examination of the Trust's accounts carried out under section 145 of tho 2011 Act and in carrying out my examination, I have followed all th8 applicable Directions giv8n by th8 Charity Commission under section 145(5)(b) of the Act. Independent I hav& completed my 8xamination. I confirm thal no material matters have examiner's statement com8 to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not k8Pt in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records., or the accounts did not comply with the applicablé requiremants conceming the fomi and wntent ofaccounts Set out in the Challties (Accounts and Reports) Regulations 2008 other than any rèquirement thal the accounls give a 'true and fair view which is not a matter oonsidered as part of an indep8nd8nt examination. I have no COn￿m8 and have come across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of th8 accounts to be reached. Please delete the words in the brackets il they do not apply. Slgned: Date: li Nam•: Steven Robert Potts Relevant professlonal quallficatlon(s) or body (rf any): FCCA Address: 15 Hylton Road, High Wycombe, Bucks HP12 4BZ IER Oct 2018