Registered Charity Number 1179171 Number Eight (Tamworth) A Charitable Incorporated Organisation Report and Financial Statements For the year to 31 March 2024
RegiSted Chanty Number 1179171 Number Eight (Tamworth Report and Accounts Contents Pagg Legal and administrative information Trustees. Report 4-6 Independent Examiners Report ststement of Financial Activities Balance Sheet Notes to the accounts 10-13
Regislered Charity Number 1179171 Number Elght (Tamworth) Charity Information Trustses Richard A Hughes Jane H Maugham Victoria Vernon Zetta Widney Lee D Chetwynd lan VV Perkins Deborah Brayslaw Keith Johnson Jacquie Chambers (appointed 21 December 2023) Indep8ndent Examiner Inspired Accountants Chartered Certified Accountants 4 Parkside Court Greenhough Road Lichfield Staffordshire WS13 7FE Prlncipal Addrèss 8 St John Street Tamworth Staffordshire B79 7EX Registered Charity number 1179171
Registered Charity Number 1179171 NUMBER EIGHT {TAMWORTH} Report of the trustees for the year ended 31 March 2024 The trustees present their annual report and accounts for the year ended 31 March 2024 The financial statements comply with the Charities Act 2011 and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U.K. and Republic of Ireland (FRS102) (effective 1 January 2019} Objectives and Activities of the charity The relief of those in need, in particular young mothers (and expectant mothers) through the management of safe and secure accommodation for their benefit with the aim to ensure and develop their good health and well-being lof bolh mothers and their babies) and life skills including through education, training, employment, self-care and home care Achievements and Performance In last year's Report we mentioned that we were launching an appeal to endeavour to raise sufficient money to purchase the residential property at 24, Albert Road, Tamworth which we were leasing from the owner. A great deal of lime has been spent in trying to raise a deposit and to seek a financial organisation which was prepared to grant us a mortgage facility to achieve our aims. We are now pleased lo report that we were able to raise enough money for a deposit and also by midway through the year, we were able to secure an agreement with The Charity Bank to arrange a mortgage for the balance. Since then we have been working with the various legal teams acting for each party's interests, and we are hoping that completion will take place during the first half of the current year. The agreed purchase pri is £350,000, and the completion of the deal will we believe, provide a solid foundation to the assets on our Balance Sheet for the charity to have the financial basis to provide the ability for the se1viS we undertake to continue for years to come. Our Chief Executive and staff continued to work hard as the amount of young people we are able to help grows year by year and we are pleased to report that we were able to successfully meet our aims and obligations in meeting our objectives. Indeed, we have also managed lo achieve some improvements to our original aims with several of our residents moving on to universities and lo develop real futures for themselves and their families. We were pleased to receive considerable help and guidance through our very valuable arrangements with the Lloyds Bank Foundation Ihroughout the period. We have been fortunate in obtaining financial support again from The Lloyds Bank Foundation Trust, and also other organisations such as The Henry Smith Foundation, The Neighbourly Foundation. Masonic Lodges, as well as substantial donations from anonymous donors. The combination ofthese has been invaluable and we could not have managed without them. We are Gonsequently hugely grateful that such philanthropic organisations and individuals exist, particularly in the current economic climate. We have also been grateful to volunteers from companies such as B&Q, Aecom, and Atkins Engineering who have helped us with decorating, gardening and other household duties to provide better facilities for our residents. We continued to apply for funding from a variety of trusts and philanthropic businesses and organisations mainly through the hard work and efforts which continued from our Chief Executive. As a result. we received a record amount of donations and are extremely grateful to our benefactors We continued to work with the Chamber of Trade and this has enabled us to make local organisations more aware of our aims and purposes
Registered Charity Number 1179171 We also made substantial efforts lo increase the consistency of our warehouse operations, and again have been grateful to the volunteers who have helped us in these operations. which not only provide us with some extra income but also help us to fumish properties for when our residents move on, whilst also enabling us to work with other organisations in assisting the homeless in the area. Financial Review We are very pleased to report that our efforts to raise funding for day-to-day operation5 and long- temi security have proved successful this year, with a record amount of income received totalling over £300,000 for the second consecutive year. Our expenditure in total has remained reasonably stable this year which has proved very satisfying. This has been despite increased demands with regard to utilities and repairs and maintenance charges as we aim to provide decent homes for our residents. Nevertheless, our surplus for the year amounted to almost £89,000 thus increasing our Reseryes as had been ourtarget. During Ihe forthcoming twelve months we will be trying to further retain as much as possible of those Resetves as we build up our resources to achieve our capital aims and increase our fixed assets, secursng the long-term future. We will however have a major change on completion of our purchase of 24, Albert Road with the monthly mortgage costs being higher than the Gurrent rent payable Reserves Policy The Trustees review the charity's need for reserves regularly, in line with the guidance issued by the Charity Commission. The Trustees have adopted a policy that defines the nature and extent of the cash balances required for the effective continuing operation of the organisation. They evaluate the organisation's financial position in relation to thal policy on at least an annual basis. The Trustees consider that the organisation's assets are sufficient and available to fund its activities Risk Management The Trustees examine the major strategic, business and operational risks which the Charity might encounter and confirm that systems have been established to minimise those risks. The total amount of funds held at 31 March 2024 was £213,712, £300 of which is restrided to funding Heritage activities at the castle for some of the mothers. This amount will decrease once the deposit for the house purchase is withdrawn. Fund Raising The Charity has been adive in fundraising in the following manner. l. The charity's appro3ch has been to apply to as many Grant making bodies as possible 2. A professional fundraiser has not been used 3. Fundraising continues to be monitored by the Trustees and reported at Trustee meetings 4. No complaints have been recewed regarding fundraising 5. The public are approached for fundraising at occasional events or8anised by the charity and others when thi5 is possible Our thanks go to our staff and volunteers for their continued support at all times
Registered Charity Number 1179171 Future Plans The Truslees have continued to discuss the future needs of all the people whom we look to assist, whilst acknowledging that the present climate throughout this country and the world generally makes this dfficult. However, the Trustees will continue to try and strengthen our Reserves to make us more secure and develop our resources as and when this is possible_ We will continue to investigate the needs of our local community and endeavour to meet those needs when our financial and other reSoUrS are available We note that, as at the date of this report. there is a continued need for our services and we look to be able to meet the needs ofthe communrty. Structure, Governance and Management During the last twelve months there have been a few changes to our Board of Trustees, and we pay tribute to the considerable contribution which all of these volunteers made to this organisation and its members from the inoption of the charity and also whilst it was previously part of Homestart (Tamworthl We were delighted when our previous colleagues there were awarded the King's Award for Voluntary Service and offer Ihem our sincere congratulations. New Trustees have been sourced and we welcome them to our Board and look forward to working together for the benefrt of the charity in the future. We will continue to look to strengthen our Board of Trustees whenever we feel this would be helpful and when we note that there are any particular areas that need strengthening. The Board of Trustees is very mindful that the balance of skills will always be needed to maintain the charily's momentum within both Managemenl and Board. With that in mind. since the financial year end, the subject of succession planning is being considered and advice is being sourced in this regard from the Lloyds Bank Foundation and its partnering organisations The Trustees during the period are as stated on page 3 R A Hughes Director and Trustee Date 02.01. £0>
Registered Charity Number 1179171 Number Eight (Tamworth) INDEPENDENT EXAMINERS REPORT ON THE UNAUDITED ACCOUNTS TO THE TRUSTEES OF NUMBER EIGHT (TAMWORTH) I report to the charity trustees on my examination of the accounts of Number Eight {Tamworthl for the year ended 318t March 2024. Responsibilities and basls of rèport As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act") I report in respect of my examination of the Charities accounts carried out under section 145 of the act and in carrying out my examination I have followed all applicable directions given by the Charity Commission under section 145{5)Ib) of the Act Independent examinerfs statèmant I have completed my examination. I can confimi that no material matters have come to my attention in connection with Ihe examination giving me cause to believe Ihat in any material respect.. 1. Accounting records were not kept in respect of the Charity as required by section 130 of the Act.. or 2. The accounts do not accord with those records.. or 3. The accounts do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirements that Ihe accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this rèport in order to enable a proper understanding of the accounts to be reached Paul Bulzacchelli FCCA Inspired Accountants 4 Parkside Court Greenhough Road Lichfield Staffordshi WS13 7FE Date )IS.
iltygtered Ch&rtty Number 1179171 Number Elght {Tamworth I Statement of Flnan¢lal Actlvltles I Incorporatln9 Income and ExpendltuM Account I forthe year ended 31st Mareh 2024 Unrestrlcted R8stricted Total Last Year Funds Funds Funds Total Fund¥ Notes 2024 2024 2024 2023 Income resource¥ Ineomlng resources from geneTat•d funds Voluntary Income 326,707 300 327,007 312,274 Totsl Incomlng resources 326.707 300 327,007 312.274 Dlrect charitsbl• •xp8ndlture 237,446 237.446 232,243 Governane• 577 577 924 Total re8our¢¢& •xp&nded 238.023 238,023 233.167 Net Incomlng reBoUe• 88,684 88.984 79.107 Total fund8 brought foThvard 10 114.728 114,728 35,621 Totsl Fund? tarried lonvar(I 10 203,412 300 203.712 114,72e All aetlvltles derive from eontlnulng operations The notes on pag• 10 to 13 fomi an Integral part of these accounts
ReWSted¢hrityNUr 1179171 Number Elght l Tamworthl Balancè Sheet for the ygar •ndad 31st March 2024 Notes 2024 2023 The as8ets and Ilabllitle8 of th8 charlty . Current a¥88ts C88h at bank and in hand Debtors and Prepayments 214,486 2,364 127,401 Total Current A¥88ts 216.850 127,401 CredStors:. Amounts due within onè yèar 10 13,137 12,673 Net Currgnt Ass•ts 203,713 114.728 N•t assets 203,713 114,728 Thg funds ofthe charlty: Unrestricted income funds Restricted income fvnds 203,412 300 114,728 203,712 114,728 Total ¢harity funds 11 203,712 114.728 The accounts were approved by the Trustees OZ. ¢>1. 20 gF and were 5igNed on its behIrbY . O Z Wldney- Trustee Thè ntstès on pages 10 to 13 fonn an Integral part 01 th• accounts
Reb*sitted ChgrityNumber 1179171 Numbar Elght l Tamworthl Notss to the Accounts for the year •nded 31 March 2024 Accountln9 Policies Basis of prèparing the flnancial stat•m•nts The accounts of the charity have been ppared in accordance with the Charities SORP I FRS1021'Acwunb"ng and Reporting by Charities.. Statement ol Recommended piactiTr applicable to charities preparing their accounts in accordan with ihe Fin8n¢ial Reporb"ng Stsndards applicable In the UK and Republic of Ireland l FRS1021 (effective t January 2019,, Financia1 Reportino Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011, Accountlng ConventSon The accounts have been prepareil under the historical o)st convention TaxatSon As a registered charity, the charEty is exempt fr¢m Income and Corporation Tax to the ext8nt that its income and gains are applicablè to charitable purposes onty Value Added Tax is not recoverable by the chaiity and it is therefore induded in Ihe relevant costs in thè Statement of Finan(i81 Activits"es Funds Structu The tharity maintains 8 g8n8t81 unrestricted fund whith rgpre5ent5 funds which are expendable at the discretion of the trustees in furtherènce of the objects of Ihts ¢harity. Such funds may be held to finance ix)th working caprt81 and capital investment. Reslri¢ted funds have been provided to tha charity for particular purposes and il 18 the policy of the trustees to monitor carefully the application Of those funds in accordan with the restrion$ aCe upon them. Income Aeeountlng Pollcy Income is recognised when the charity h85 en"ernent to the funds, any perforrnance conditions attached to the iterns have been met. it is kKobable th8tlhe inex)me will be received and the arnount can be rneaSlld reliably. Creditors Aceountlng Pollcy Creditors are recognised where the charity has a psent obligation resulting from 8 past event that wll probably result in tre transfer of funds to 8 third party and the amount due to setue the obli9ation e8n be meaSUd or estimated reliably. Pen8ion¥ A¢Counn9 Pollcy ContribLrtions to defined ¢ontritxJtlon plans are expensed in the peri(xJ to which thèy relate 10
Regiskrtd chtyNumbeT 1179171 Number Eight l Tamworthl Notes to the A¢counts For the year ended 31st March 2024 { contlnu•d I 2 Windin% llp or di5$0lution of the charity If upon winding up or dissolution of the charity there reTnain any assets. after the satisfaction of all d¢bis and liabilitie5, lh¢ assets represented by the accumulated fund shall be transferred to some other charitsble body or bodi¢s having simslar objects to the charity. 2024 3 Surplus forthe fin4nclal year 2023 Thls Is after clrgIng Rentals under operating leases Pension costs Reporbng Accountants lees 40,675 6,871 48,083 6,747 72D Funds b¢SonRing to the charity have kert used for th¢ purchase of insurance to protect the charity froln loss ari5illg from the neglect or defaults of its trustees, employees or aRents. or to indemnify 11$ trustees. ¢mployee$ or aRent5, winst the consequences of any ne£lect or default on their part. 4 Trustees Expenses No expenses were paid lo trustees or connected persons except re-imbursement ol exctrpb.onal travelling expenses. S Income Analysls 2024 2024 Unr•strlcted Restrlcted 2024 Total 2023 Totsl Tamworth B C-housing benerts Tenants conliibuts.on to utility costs Lloyds Foundation Warehouse & Shop Fumituie sales Donation- Anonyrnous Community Together The Neighbourfy Foundation The Henry Smith Foundation Lion Club of Tamworth The Rawlett Trust SCC County Fund Anton Scaffolding Morrisons Foundation Albert Hunter Trust M1 Tarnwortr ASD M8$0nic Charities Support Staffordshire Amold Clark United Kingdom Sepsis Trust University of Wolverhampton Bauer Radio Just Giving Fund Generation Interest Othei don*ions 140,333 16,870 25,000 6.316 55,840 320 9,025 59,400 520 400 1,030 1,SCM) 140.333 122,838 16.870 17,144 25.000 27,250 6,316 20,980 55,840 21,840 320 3,600 9.025 59.400 520 400 1,030 1.5( 50.000 21,000 7,000 6,639 5,000 4,300 1,OCKJ 882 5,0 5,OQM) 1,938 313 1.938 313 463 2,060 300 2,360 898 326,707 300 327,007 312.274
Rewsiered CharityNumber1179171 Number Eight l Tamwoythl Notes to t Accounts For the year ended 3181 March 20241 eontlnued I 9 Debtorn and prepaymènts 2024 2023 Prepayments 10 Credltors . amounts falllng du• under one yèar 2024 2023 Aecrued expenses PAYE&NI 3.938 2,4e4 10.3( 2,25e 109 NEST Pensions Home-start (Tamworthl 6.736 13,137 12,673 11 Fund Anaby818 Fund$ at Income Expended Funds at 2023 Including Intsrest 2024 Unrestricted fund 114,728 326.707 300 238,023 203.412 300 Restricted fund 114.728 327,007 238,023 203,712 11 Share Capltsl The tharity is a charitsble incorporated organisalion and as such has no share caprtaS. 13