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2022-03-31-accounts

JULIAN HOUSE

(Regulator of Social Housing registration: L4549 Company Number: 11791952 Registered Charity Number: 1183751)

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

JULIAN HOUSE

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2022

CONTENTS
Page
Reference and administrative details 1
Trustees' report 3
Independent auditors' report 23
Consolidated statement of comprehensive income 27
Statement of comprehensive income 28
Balance sheet and consolidated balance sheet 29
Consolidated statement of changes in reserves 30
Statement of changes in reserves 31
Consolidated statement of cash flows 32
Notes to the financial statements 33

JULIAN HOUSE

REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 March 2022

Trustees Emma Cooke (Chair – temporarily on leave) Emma Cooke (Chair – temporarily on leave)
Kirsty Eastham
Julia Hilton
David Jobbins (Acting Chair)
Joy Luxford (née Saunders) (resigned 27 May 2021)
Paul Mackenzie Cummins
Timothy Mitchell
Fiona Nunn
Garry Peagam
Clive Pugh
Ahran Symonds-Baig
Julian House (appointed 3 August 2022)
Patron Dr Phil Hammond
Secretary Laura Baxter (appointed 9 August 2021)
Patricia Keen (resigned 9 August 2021)
Chief Executive Helen Bedser
Senior Management Team
Kaniz Malekin Client Services Director (appointed 5 May 2022)
Laura Baxter Finance Director (appointed 1 August 2021)
Patricia Keen Finance Director (resigned 9 August 2021)
Cecil Weir Fundraising & PR Director
Nina Reed HR Business Partner
Roanne Wootten Strategic Partnerships Director
Registered Charity Number 1183751
Registered Company Number 11791952
Regulator of Social Housing L4549
Number
Registered Office and 1 Kelso Place
Place of Business Upper Bristol Road
Bath
BA1 3AU

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JULIAN HOUSE

REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 March 2022

Auditors Monahans
Fortescue House
Court Street
Trowbridge
BA14 8FA
Bankers Lloyds Bank
Milsom Street
Bath
BA1 1DN
Triodos Bank
Deanery Road
Bristol
BS1 5AS
CAF Bank Ltd
25 Kings Hill
Avenue West
Malling
KentME19
4JQ
Bank of Scotland
The Mound
Edinburgh
EH1 1YZ

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Message from our Chair

It is my pleasure to introduce this report as Acting Chair of Julian House, covering for the Chair ' s maternity leave.

The year 2021-2022 represented the second full year of working and living under the shadow of Covid-19. Despite the ups, downs, and uncertainties of the pandemic, I am enormously proud of everything that Julian House has achieved towards our vision of a society where socially excluded people are supported and empowered to build sustainable independent lives.

It has been another busy year in which we have continued to deliver vital accommodation and support services that transform the daily lives and futures of people experiencing social exclusion. We were able to secure funds to maintain accommodation services that had been set up during the first lockdown, and we developed several new housing and support services providing more people with opportunities to change their life for the better. We also played a key role in ensuring our clients had access to vaccination and testing services, and that the most vulnerable continued to be protected.

As the year closed, we were hopeful that the most severe impact of Covid seemed to be behind us; only for fresh challenges to arrive - the cost-of-living crisis and the war in Ukraine. These will undoubtedly require our continued resilience and resolve. However, I am confident that with the amazing people at Julian House – our staff, volunteers, students, clients, board members, and supporters – we can continue to meet these challenges head on.

Introduction

The Board of Trustees of Julian House present their report and the audited financial statements of the organisation for the year ended 31 March 2022.

Public Benefit

The Trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The trustees further confirm that the activities of Julian House are carried out, in line with its objects, for the public benefit as described in this report.

OBJECTIVES AND ACTIVITIES

Our Purpose

We believe everyone deserves a safe place to live and opportunities to change their life for the better.

Our Vision

A society where people experiencing social exclusion are supported and empowered to build sustainable independent lives.

Our Mission

To deliver quality accommodation and support services, which transform the daily lives and futures of people experiencing social exclusion.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Our Values

We value the individual:

We are collaborative:

We are creative:

Our Strategy

In 2021, we launched our new 5-year strategy. This was informed by numerous conversations and consultation with our many stakeholders including clients, staff, volunteers, partner organisations and trustees. At the heart of our strategy is the ambition:

Our Goals and Objectives

Goal 1: Everyone we support will experience a high-quality service.

We will do this by:

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Goal 2: We will be a great place to work and volunteer.

We will do this by:

Goal 3: We will sustainably grow, improve and enhance the accommodation and support services we provide for people experiencing social exclusion.

We will do this by:

Goal 4: We will continue to manage our charity efficiently and effectively.

We will do this by:

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Goal 5: We will inspire and educate as many people as possible in our local communities to understand the causes and effects of social exclusion, and to support our life-changing work.

We will do this by:

Our Services

We provide a network of accommodation and support services for people experiencing social exclusion across the region, including:

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

The common thread that connects all our services, is the skilled support from a trusted Julian House support worker, who provides a trauma-informed approach and a range of practical and emotional support, tailored to the strengths of each client, with the aim of increasing their confidence, self-esteem, skills, resilience, and well-being, and enhancing their life choices and chances, as they navigate their individual journey towards recovery, independence, and social inclusion. That journey may not be linear, and it may be subject to setbacks and challenges, but the acceptance, flexibility and expertise of the Julian House support worker will enable incremental progress to be made.

The people our services support may have experienced or still be experiencing poverty, homelessness, rough sleeping, displacement, trauma and abuse, mental ill-health, substance misuse, domestic violence and abuse, long-term unemployment, involvement with the justice system, and/or a complex range of health and support needs.

Our work mainly spans the South West of England, encompassing Bath & North East Somerset, Wiltshire, Bristol, South Gloucestershire, Somerset, Dorset, Devon and Basingstoke & Deane.

Our Service Statistics for 2021-22

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

ACHIEVEMENTS AND PERFORMANCE

2021-22 was the first year of our 2021-26 strategy. Our plan was to decompress from the pandemic-dominated 2020, to recover, restore and make continuous improvements. We sought modest growth and to prepare for further opportunities and more ambitious growth from 2022 onwards.

In many ways 2021-22 was the year we planned for, but in which we also positively responded to new national rough sleeping initiatives such as the Next Steps Programme and Protect and Vaccinate. We were also called upon to respond to the humanitarian crises in Afghanistan to provide refugee resettlement support to people fleeing this war.

Detailed below under each of our strategic goals, are our activities and achievements for the year.

1. Everyone we support will experience a high-quality service.

2. We will be a great place to work and volunteer.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

3. We will sustainably grow, improve and enhance the accommodation and support services we provide for people experiencing social exclusion.

4. We will continue to manage our charity efficiently and effectively.

5. We will inspire and educate as many people as possible in our local communities to understand the causes and effects of social exclusion, and to support our life-changing work.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Our Challenges

Whilst we are extremely proud of all that we managed to achieve in 2021-22, and relieved to be leaving the most severe impact of the pandemic behind us, there have also been many other challenges for the charity, which require our continued resilience and resolve.

A fragmented housing, probation, health and social care system has meant that many of our clients have not been able to access the wider support they need to be able to avoid social exclusion, progress to independence, or achieve their personal goals in life.

Despite successive governments’ commitment to end rough sleeping and some welcome investment in new initiatives, the steady flow of people onto the streets has not been stemmed. Meanwhile, the housing crisis shows no sign of improving, with demand outstripping supply.

Alongside the challenge of access to housing, we are also seeing an increase in social problems including substance misuse, mental health needs, domestic abuse, debt, offending and people with multiple needs, leading very complex lives.

The current cost of living crisis will result in spiralling demand for our services, with rising prices for goods and groceries, pushing more people into poverty and the margins of society. When Russia invaded Ukraine at the beginning of the year, fuel suppliers’ pressure resulted in a sharp increase in energy price caps which could have huge consequences for our charity running costs, as well as the lives of our staff and beneficiaries. This situation is further compounded by the extremely high rate of inflation, caused by complex world issues. We consider ourselves a good employer, flexible, supportive, and values-driven, but we would be unable to pay our employees’ wages to keep pace with the current soaring levels of inflation.

Stretched local authority budgets exacerbate this problem, with many of our funding sources now frozen for over a decade. There is also the threat of further cuts in funding, as local government purse strings continue to tighten. It is a simple fact that there are fewer resources available, at a time when people need them most.

Whilst not diminishing how impactful these challenges can be, we will continue to maintain hope and optimism in the opportunities they present, to be creative and innovative. As an organisation we embrace change. We develop, learn and we adapt, but we will not compromise our commitment to providing quality, person-centred services. We are confident that with the amazing people at Julian House – our staff, volunteers, students, clients, board members, and supporters – we can continue to meet these challenges head on.

Our Bike Workshops

Our bike workshops are social enterprises run through our subsidiary company, Julian House Trading Limited (JHT), which help to raise our profile with new audiences and diversify our income streams. JHT operates bike workshops in Bath and Trowbridge which trade in new and refurbished bikes, with embedded training and employability programmes for socially excluded people, furthering the wider objectives of Julian House.

Notable achievements for our Bath and Trowbridge Bike Workshops include:

JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

The financial results of JHT are consolidated into the Julian House financial statements.

Our Charity Shops

We have a chain of charity shops across Bath, Trowbridge, Chippenham, Frome and Devizes, selling quality donated clothes, books and electrical items. Our charity shops give us a valuable presence on the high street and raise both unrestricted income and awareness about our work. Although one site closed in March 2021 (in Thornbury, taking advantage of a lease break) we opened another beautiful new shop in Devizes and we continue to actively look for new shop sites. Together, our shops returned a net profit of £180k Although retail sales were not quite as strong as was hoped, this was against a backdrop of generally lower footfall on high streets and particularly in some of the towns where Julian House has a presence. In particular, tourism was massively down in Bath. Volunteers play an important role in the shops and this is another area where Covid-19 has had an ongoing detrimental impact. Some volunteers were apprehensive about coming back into their previous roles and, more generally, the number of new offers of help has been down. We are working hard to address this.

Our charity shops also have a hugely beneficial environmental impact, diverting tonnes of textiles from landfill waste.

Our Volunteers

Volunteering from our clients, members of the public and business community help us to do much more for the socially excluded people we support. At every level, from our trustees to volunteers in our client services, our chair to our patron, we’re led and supported by some amazing volunteers.

We offer a wide range of volunteering opportunities, including in our shops and bike workshops as mechanics, retail and e-commerce assistants, and in our client services, as outreach assistants, cooks, and befrienders. Some 200+ volunteers contributed an estimated 9,400 hours of voluntary support for Julian House this year, plus the countless hours provided by our trustees. Many more people got involved with our fundraising activities and events. Last year we were supported by over 150 individual fundraisers and 100’s of people donated items to sell in our shops.

We are indebted to all our volunteers who bring invaluable experience, fresh perspectives and enthusiasm to our work and help strengthen links to the communities we serve. Volunteers dramatically increase our overall capacity, representation, diversity and flexibility. In return, volunteers gain valuable experience, learn new skills, and improve their health and well-being. We are immensely grateful for the support and willingness of our volunteers to answer our calls for aid over the last year.

Fundraising

Fundraising is incredibly important to us, as it is the only way we are able to run many of our vital services. We are proud of our commitment to fair, honest and open fundraising and we do not engage in direct fundraising or commercially contract with third parties to fundraise on our behalf.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

We are registered with the fundraising regulator and adhere to the ‘fundraising promise’. We take the management of data very seriously and conform to Data Protection legislation. We only collect and use personal information for the purpose it was intended. We do not buy data or sell any of our data on to third parties. We send out regular supporter newsletters and that, along with all other correspondence, is tailored based on the interests and wishes of the donor. We received no complaints in relation to our fundraising activities last year. When working with volunteers who have chosen to fundraise for Julian House, we ensure that they comply with appropriate guidelines and follow best practice.

In 2021-22 our in-house fundraising and PR team succeeded in raising £1.5m (compared to £1.3m 2020-21) and exceeding targets. We are grateful to the hundreds of people, companies and trusts who continue to support us. Our work would not be possible without them. We are especially indebted to the Dorothy Hopkins Trust for their large donation towards our work supporting vulnerable women. This will enable us to carry out improvements to our refuge buildings and employ a specialist women’s mental health worker for a number of years.

One positive to come out of the pandemic was the increased use of social media. That emphasis on social media carried on throughout 2021-22 - allowing much more direct dialogue with supporters and the wider community, and an effective means of conveying the often complex issues which impact on the people we support.

The biggest event of the year was the annual tour of the byways of Bath’s near countryside – the Circuit of Bath Walk. Now in its 21[st] year the event was a massive tonic to supporters and the community when they were released from lockdown in 2020. Such was the demand that another extra event was staged in April 2021 – followed up by the traditional fixture in September. Even though we have been staging this for many years it is only possible through the support of many volunteers and organisations giving their help at various checkpoints. We were thrilled that the specially selected route for the event, of footpaths and public rights of way, has now been officially recognised by the Bathscape Landscape Partnership.

Notwithstanding the importance of financial support, gifts in kind also help enormously in making our resources stretch as far as possible. These are just a few examples:

There were many others. Huge thanks to all of them.

Although this has been another challenging year in fundraising terms, we remain positive about the future – hopeful that our supporters, volunteers and other stakeholders will continue to support the amazing work done by the

charity with marginalised and vulnerable individuals. Not just changing lives – often saving lives.

Our People

People are at the heart of our work – the people we support, our staff, our volunteers and our supporters. We employ over 150 staff and are supported by over 200 volunteers. We want people’s experience of Julian House to be a great one – whether they are working for us, volunteering for us, supporting us, or coming to us for accommodation and support.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Our staff work across the South West, with main offices in Bath, Exeter, Bristol, Trowbridge, Taunton, Yeovil, Exeter, Weymouth and Basingstoke.

Our staff engagement survey showed that most people who work for Julian House enjoy the work they do, feel they are making a difference, are empowered to take decisions, and get the feedback and support they need in their role. We’re committed to creating a positive high performing work environment and our survey and subsequent scoping exercise highlighted some areas where we can improve. Our staff told us we should: get better at communicating between teams; invest more in career development; and improve our pay. We have been able to take positive action in all these areas during the year. We have also maintained our status as an Investor in People, a Mindful Employer, and Disability Confident employer.

Equality, Diversity and Inclusion

Like many organisations in the charitable sector, we have taken time to reflect on the way we work and in particular to develop and adopt a clear and forward-looking approach to Equality, Diversity and Inclusion. We want to become more diverse and fully inclusive. We are committed to building an organisational culture of respect and equity, where everyone can thrive, and where staff, volunteers, students, clients, board members and supporters from all backgrounds are truly valued and feel like they belong.

We have an annual Equality, Diversity and Inclusion (EDI) Action Plan, which was shaped by our staff and trustee Diversity & Inclusion Champions. This plan serves not only as our commitment to equality, diversity and inclusion in writing, but also as a working document to help us monitor our progress in this area. Some key achievements from our 2021-22 EDI Action Plan include:

The Diversity & Inclusion group has also been instrumental in setting our priorities for our new 2022-23 EDI action plan, which are:

Our mean average gender pay gap is 2.3% and our median average gender pay gap is 2%, which is below the average for charities. Our leadership team is made up of one man and five women. The mean and median gender

pay gap is due to a higher percentage of women occupying roles at the lower end of our pay scale. 67% of our employees are women.

In our 2021 employee survey 80% of employees agreed/strongly agreed that diversity is valued at Julian House.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Partnerships

Working in partnership with other organisations and different sectors is an important way to achieve change and support the people who use our services. We have collaborated with a number of organisations in the past year and will continue to work with partners to effectively and imaginatively address the issues of homelessness and social exclusion in the communities where we work. For example, we have:

Financial Review

In 2021-22 Group turnover for the year was £7.6m (2020-2021 £7.2m). Turnover for the financial year includes a significant one-off restricted donation of £404k. In the year, a profit of £528k was made from the sale of our administrative office. The net proceeds from this sale have been designated for housing for our clients. The principal sources of funding for Julian House are income from contracts, accommodation charges, fundraising and retail income. Retail income was £579k (2020-21 £210k) returning to levels of trade pre-Covid.

During the year the amount received from business support grants reduced as the support for the impact of Covid decreased.

Julian House Trading’s (JHT) turnover was £409k (2020-21 £442k) which was reduced due to the closure of the Bike Workshop in Bristol. JHT made a small loss in the year. JHT aims to improve profitability with the closure of the Bristol workshop.

Expenditure has not increased in line with income as the proceeds from the sale of the administrative office and the large, restricted donation have not yet been spent.

The Group surplus for 2021-22 is £1.23m, compared with a surplus of £562k the previous year.

Reserves Policy

In March 2022 the Reserves Policy was reviewed by the Trustees resulting in the reserves target range being set to between £1.2m to £1.7m. This range has been determined using a risk-based approach. Identified risks include a change in the regulatory and economic landscape, an unplanned fall in voluntary income, cash flow requirements in relation to contract timing and renewals and a change in the retail environment. The reserves have been set to allow time to undertake mitigating actions should any or all of the identified risks eventuate. The Trustees regularly review the level of reserves to ensure that it is adequate and appropriate to meet the requirements of Julian House.

Total funds as at 31 March 2022, were £4.57m, of which £465k were restricted funds. The Trustees have designated the net proceeds of £1.04m from the sale of our admin office to a Housing Fund. These funds are to be spent on property providing housing for our clients with the intention to spend within three years.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

The Group holds fixed assets of £1.9m which are not readily transferable into liquid assets, less amounts used to finance them of £0.7m, being long term loans and a hire purchase. These have been excluded in the calculation of free reserves as they are required in order to operate the Group. The defined pension liability has been excluded as it is not an immediate commitment and so does not impact on the amount freely available to spend save for annual contributions and costs.

The remaining funds, the Group’s free reserves were £1.88m, which is £0.18m above the upper target of £1.7m. In order to bring reserves back within the target range a deficit budget has been prepared for 2022-23.

Principle Risks and Uncertainties

We are committed to effective risk management and have effective mechanisms in place for managing strategic and operational risks. Like all organisations in our sector, we are facing unprecedented challenges and great uncertainty in our operating environment. We need to remain responsive to changing client needs and to fulfil the requirements and expectations of our supporters, commissioners and regulatory bodies, against a backdrop of increasing demand for our services, short-term funding limitations and ongoing rising costs. We need to exercise careful vigilance in the delivery of services for children, young people and adults at risk, and review our systems and processes against the highest governance and quality standards, to ensure they are safe and effective.

The Board has direct responsibility for ensuring Julian House has systems for internal control and the management of risk. The board regularly conducts a review of the major strategic, business and operational risks to which the organisation is exposed.

A risk register is held which is updated on an ongoing basis and is formally presented to, and reviewed by, the Audit, and Finance Sub-Committee and the Board twice a year. The risk register details the board assurance for each risk.

The top five risks in 2021-22, after mitigating actions were:

The key risks identified in our risk register are prioritised in terms of potential impact and likelihood of occurrence. We consider ways of mitigating the risks and identify a lead member of the Senior Management Team responsible for taking necessary actions. The Board recognises that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Examples of actions taken to mitigate the above risks include:

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

The risk management and control processes are not a separate annual exercise but are a continuous function. Key elements in our internal control systems are:

Where serious control weaknesses were identified during the year, they have been addressed.

Risk Appetite

The Board has established a risk appetite framework to support its decision making, which is reviewed as part of the overall risk reporting processes. Our approach is to minimise exposure to reputational, compliance and unacceptable financial risk, whilst accepting and encouraging appropriate risk in pursuit of our strategic goals. Julian House operates in an increasingly competitive and rapidly changing environment, where funding streams can be uncertain, where changes in policy and public opinion can have a significant impact on our work, and where innovation is key to securing a vibrant and sustainable future. Our risk appetite statement areas are linked to the risk register and strategic plan, and the table below expresses our overall approach to each one, rated from averse, minimal, through to cautious, open and hungry.

Risk Appetite Statement Area Risk Appetite
Strategyand businessplan achievement Open
Service delivery Cautious to Open
Governance, legal and regulatorycompliance Minimal
Back office capacity Open
Workforce Open
Financial management Cautious
Systems and continuity Minimal to Open
Julian House Trading Open

Structure, governance and management

Julian House is a registered company limited by guarantee in England and Wales (No. 11791952), a registered charity with the Charities Commission (No. 1183751), and a Registered Provider of Social Housing (No. L4549). Julian House is also the parent charity of Julian House Trading, which is a subsidiary company of Julian House.

The Trustees of Julian House constitute the directors of the charitable company for the purposes of the Companies Act 2006 and Trustees for the purposes of the Charities Act 2011 and provide leadership, direction and control in pursuit of the organisation's charitable objectives.

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Trustees usually serve for a term of three years with a possible re-appointment for a further two terms, each of three years.

Our trustees are volunteers with experience in a range of fields. They come from diverse backgrounds and 30% have personal lived experience of the issues our clients face.

New trustees are recruited by open advertisement, based on an evaluation of the balance of different skills, knowledge and experience needed to govern Julian House. They receive an induction pack containing information about Julian House, its structure and operations, the Board and sub-committee structures, trustee duties and responsibilities and the organisation's key policies.

All trustees undertake training in Safeguarding and Equality and Diversity.

Scheme visits and project briefings are arranged to enable Trustees to obtain a better understanding of Julian House's services and operating environment. A nominated staff representative provides feedback to the board.

The full Board of Trustees meets five times a year to discuss strategy, to formulate policy and to oversee operational matters. Trustees schedule an annual away day to consider the environment and plan strategic direction. The Board is supported by three standing sub-committees which meet quarterly to consider specific areas of activity in greater detail on behalf of the trustees and report to trustees on key issues. The three subcommittees cover the areas of: Audit, Risk and Finance, Client Services, and Governance. The Board and subcommittee membership may include co-optees who are not trustees, but who have generously agreed to contribute their knowledge and experience.

The Board of Trustees have overview of senior management pay and terms and conditions. We are committed to openness and transparency on senior pay and will continue to review it. The ratio of the highest paid person to the lowest paid person is 3.1:1.

The Board delegates day-to-day management of the organisation to the Chief Executive and Senior Management Team, through a documented delegated authority matrix. The Chief Executive is not a member of the charitable company and has no legal status as Director and acts as executive within the authority delegated by the Trustees.

Value for money

Over the last year we have worked hard to further embed a Value for Money (VfM) culture across the organisation, delivering year on year improvements in VfM, for example, we:

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JULIAN HOUSE

TRUSTEES’ REPORT For the year ended 31 March 2022

Our approach to VfM aims to ensure that we deliver and achieve VfM in meeting our goals and objectives. It meets the expectations of the Regulator of Social Housing and its VfM standard (2018) and reflects our commitment to achieving VfM in everything we do.

Our approach to Value for Money (VfM) aims to ensure that we deliver and achieve VfM in meeting our goals and objectives.

We see VfM as delivering improvements in efficiency, effectiveness and economy, minimising the cost of our operations, without compromising the quality and outcomes of our services, nor the advancement of our strategic aims.

Delivering VfM is embedded in our 5-year strategy for 2021- 2026 and organisational goals which are:

  1. Everyone we support will experience a high-quality service.

  2. We will be a great place to work and volunteer.

  3. We will sustainably grow, improve and enhance the accommodation and support services we provide for people experiencing social exclusion.

  4. We will continue to manage our charity efficiently and effectively.

  5. We will inspire and educate as many people as possible in our local communities to understand the causes and effects of social exclusion, and to support our life-changing work.

We have created VfM priorities for the coming year as a subset of our strategic goals, these are:

Achievement against these objectives will be reported to the board on a quarterly basis, along with the KPI and financial monitoring reports.

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TRUSTEES’ REPORT For the year ended 31 March 2022

To comply with the Regulator of Social Housing's (RSH) code of practice on VfM, as a registered provider we are required to publish our performance against a given set of key indicators. We will further develop our understanding and measurement of our cost base using the RSH data analysis, sector scorecard metrics and review how our performance compares with others.

Metrics Explanation Julian House 2021
Supported
Housing
Specialist		 2021 All Returns
(median quartile)
Reinvestment
%		 Investment in
properties as a
percentage of
total
properties		 0.5% 4.1% 5.8%
New
supply
delivered %		 The number of
new units as a
percentage of
all owned units		 0.0% 1.5% 1.3%
Gearing % Percentage of
assets
made
up
of
debt
finance (lower
the better)		 -233.9% 11.6% 43.9%
EBITDA MRI
Interest
Cover %		 Measure
of
surplus
compared
to
interest
payments,
avoiding
distortion from
depreciation
(higher
the
better)		 4,714% 309% 183%
Headline
social
housing cost
per unit		 Measure
of
social housing
cost per unit		 £10,213 £9,680 £3,730
Operating
Margin %
A)
Social
Housing
Letting
B)Overall		 Surplus
divided
by
turnover
for
both
social
housing
and
overall		 7.8%
10.7%		 13.4%
7.4%		 26.3%
23.9%
Return
on
capital
employed %		 Investment
return
on
capital
resources		 23.4% 3.3% 3.3%

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TRUSTEES’ REPORT For the year ended 31 March 2022

Julian House is the registered provider of social housing within the Group, but with substantially fewer than 1,000 owned homes, is classed as a "small provider". Julian House provides homes with additional support, exclusively housing homeless and socially excluded people, occasionally on assured shorthold tenancies but most commonly on licences.

Many of the RSH metrics are designed to enable comparisons between large social housing providers with significant loan book commitments and a high level of general needs social rented homes. We have included alongside the All Returns comparators the Supported Housing Specialist comparators as this provides a fairer comparison with our social housing model. The Board has reviewed the results and is satisfied that Julian House complies with the revised Code issued by the Regulator of Social Housing and that Julian House is delivering year on year improvements in the value for money it offers to its beneficiaries.

Compliance with the Charities Code of Governance

Our trustees take our governance responsibilities seriously and have a governance framework that is fit-forpurpose, compliant and efficient. Each year we undertake a self-assessment of our compliance with the Charity Governance Code, covering the following aspects of Charity Governance: Organisational purpose; Leadership; Integrity; Decision-making; Risk and Control; Board Effectiveness Diversity; Openness; and Accountability. The self-assessment showed compliance with each aspect of the code.

Compliance with the Governance and Financial Viability Standard

Julian House is a Registered Social Housing Provider and required by the Regulator of Social Housing, to certify compliance with the Governance and Financial Viability Standard. The Board has reviewed compliance with the standard and confirms that it complies in all material respects.

Future Plans

We will continue to focus on the goals and objectives of our strategy and work to scale-up our accommodation and support services.

Our planned activities for the year ahead include:

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TRUSTEES’ REPORT For the year ended 31 March 2022

Statement of Trustees Responsibilities

The Trustees (who are also directors of Julian House for the purposes of company law) are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of Julian House’s affairs and of its incoming resources and application of resources, including income and expenditure, for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the organisation’s transactions and which disclose with reasonable accuracy at any time Julian House’s financial position and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Julian House and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of corporate and financial information included on Julian House’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

20 September 2022 Approved by the Board of Trustees on …………………………………… and signed on its behalf by

David Jobbins Acting Chair

Contact us.

Write to us or visit us at: 1 Kelso Place, Upper Bristol Road, Bath BA1 3AU Learn more about us at: https://www.JulianHouse.org.uk

Talk to us on: 01225 354650 Or say hello at: https://www.twitter.com/JulianHouseUK https://www.facebook.com/JulianHouseUK/ https://www.instagram.com/JulianHouseuk We would love to hear from you!

22

JULIAN HOUSE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JULIAN HOUSE For the year ended 31 March 2022

Opinion

We have audited the financial statements of Julian House (the 'Company') for the year ended 31 March 2022 which comprise the Consolidated and Parent Company Statement of Comprehensive Income, the Consolidated and Parent Company Balance Sheet, the Consolidated Cash Flow Statement, the Consolidated and the Parent Company Statement of Change in Reserves and notes to the financial statements including a summary of significant accounting polices. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

23

JULIAN HOUSE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JULIAN HOUSE For the year ended 31 March 2022

Other information

The board is responsible for the other information. The other information comprises the information included in the Trustees' Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion:

24

JULIAN HOUSE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JULIAN HOUSE For the year ended 31 March 2022

Responsibilities of the board

As explained more fully in the board’s responsibilities statement set out on page 22, the board is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the board determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the board is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report

Use of report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Based on our understanding of the charitable company and sector, we identified that the principal risks of noncompliance with laws and regulations related company and charity legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the charitable company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Statement of Recommended Practice and the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to potential lack of segregation of duties, bookkeeping errors and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

25

JULIAN HOUSE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JULIAN HOUSE For the year ended 31 March 2022

There are inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

James Gare (Senior Statutory Auditor) For and on behalf of Monahans Statutory Auditors Chartered Accountants Fortescue House Court Street Trowbridge BA14 8FA

22 September 2022

26

JULIAN HOUSE

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2022

JULIAN HOUSE GROUP
Notes
Turnover
2
Operating expenditure
Profit on sale of tangible fixed assets
24
Operating surplus
Interest receivable and similar income
5
Interest payable and similar charges
6
Surplus on ordinary activities for the year before tax
Taxation
Actuarial (loss) in respect of pension schemes
21
Total comprehensive income for the year
Surplus for the year after tax		 2022
£
7,620,406
(6,866,530)
527,965
1,281,841
289
(18,215)
1,263,915
-
1,263,915
(29,000)
1,234,915		 2021
£
7,249,768
(6,646,474)
-
603,294
404
(19,538)
584,160
-
584,160
(22,000)
562,160
On behalf of the Board
….................................................................................. DAVID JOBBINS, Acting Chair
….................................................................................. GARRY PEAGAM, Trustee

27

JULIAN HOUSE

STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2022

JULIAN HOUSE
Notes
Turnover
2
Operating expenditure
Profit on sale of tangible fixed assets
24
Operating surplus
Interest receivable and similar income
5
Interest payable and similar charges
6
Surplus on ordinary activities for the year before tax
Taxation
Actuarial (loss) in respect of pension schemes
21
Total comprehensive income for the year
Surplus for the year after tax		 2022
£
7,134,766
(6,375,759)
527,965
1,286,972
495
(18,215)
1,269,252
-
1,269,252
(29,000)
1,240,252		 2021
£
6,718,946
(6,082,057)
-
636,889
524
(19,538)
617,875
-
617,875
(22,000)
595,875

On behalf of the Board

….................................................................................. DAVID JOBBINS, Acting Chair
….................................................................................. GARRY PEAGAM, Trustee

28

JULIAN HOUSE

BALANCE SHEET AND CONSOLIDATED BALANCE SHEET - company number 11791952 As at 31 March 2022

Notes
FIXED ASSETS
Social housing properties
10
Other tangible fixed assets
11
Investment in subsidiary
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
15
NET CURRENT ASSETS
CREDITORS: amounts falling
due after one year
16
DEFINED BENEFIT PENSION
LIABILITY
21
NET ASSETS
RESERVES
Income and expenditure reserve
18
Designated fund
18
Restricted funds
19
TOTAL RESERVES
TOTAL ASSETS LESS CURRENT
LIABILITIES		 2022
2021
£
£
1,278,533
1,293,842
650,711
1,234,036
-
-
1,929,244
2,527,878
76,462
80,073
482,139
565,246
3,672,008
1,696,790
4,230,609
2,342,109
(915,784)
(815,363)
3,314,825
1,526,746
5,244,069
4,054,624
(608,208)
(671,678)
(62,000)
(44,000)
4,573,861
3,338,946
3,066,270
3,296,235
1,043,000
-
464,591
42,711
4,573,861
3,338,946
Julian House Group		 Julian House
2022
2021
£
£
1,278,533
1,293,842
618,980
1,197,103
2
2
1,897,515
2,490,947
4,860
483
826,656
899,777
3,661,960
1,683,143
4,493,476
2,583,403
(888,180)
(763,362)
3,605,296
1,820,041
5,502,811
4,310,988
(605,249)
(671,678)
(62,000)
(44,000)
4,835,562
3,595,310
3,327,971
3,552,599
1,043,000
-
464,591
42,711
4,835,562
3,595,310

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved and authorised for issue by the Board on …................ 20 September 2022 and signed on their behalf by:

DAVID JOBBINS, Acting Chair

GARRY PEAGAM, Trustee

29

JULIAN HOUSE

CONSOLIDATED STATEMENT OF CHANGES IN RESERVES For the year ended 31 March 2022

At 1 April 2020
Surplus for the year
Total comprehensive income
Share capital issued
Share capital redeemed
Transfers
At 31 March 2021 and 1 April 2021
Surplus for the year
Transfers
At 31 March 2022
Total comprehensive income
Actuarial (loss) in respect of pension
schemes
Acturial (loss) in respect of pension
schemes		 Restricted
reserve
£
15,917
-
-
26,794
42,711
-
-
421,880
464,591		 Income and
Expenditure
Reserve
£
2,760,869
584,160
(22,000)		 Total
£
2,776,786
584,160
(22,000)
562,160
(26,794)		 562,160
-
3,296,235
1,263,915
(29,000)		 3,338,946
1,263,915
(29,000)
4,531,150
(421,880)		 4,573,861
-
4,109,270 4,573,861

30

JULIAN HOUSE

STATEMENT OF CHANGES IN RESERVES - JULIAN HOUSE For the year ended 31 March 2022

At 1 April 2020
Surplus for the year
Total comprehensive income
Transfers
At 31 March 2021 and 1 April 2021
Surplus for the year
Total comprehensive
income
Transfers
At 31 March 2022
Actuarial (loss) in respect of pension
schemes
Acturial (loss) in respect of pension
schemes		 Restricted
reserve
£
15,917
-
-
26,794
42,711
-
-
421,880
464,591		 Income and
Expenditure
Reserve
£
2,983,518
617,875
(22,000)		 Total
£
2,999,435
617,875
(22,000)
595,875
(26,794)		 595,875
3,552,599
1,269,252
(29,000)		 3,595,310
1,269,252
(29,000)
4,792,851
(421,880)		 4,835,562
-
4,370,971 4,835,562

31

JULIAN HOUSE

CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 March 2022

Cash flow from operating activities
Cash flow from investing activities
Payments to acquire social housing property
Payments to acquire of tangible fixed assets
Receipts from sales of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flow from financing activities
Repayments of borrowing
Repayments of obligations under hire purchase
New hire purchase
Interest paid
Net cash (used in) / provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2021
Cash and cash equivalents at 31 March 2022
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2022
Analysis of changes in net debt
Net cash
Cash at bank and in hand
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total
Finance leases		 Note
20
10
11
At 1.4.21
£
1,696,790
-
(66,290)
(671,678)
(737,968)
958,822		 2022
£
1,050,270		 2021
£
1,042,818
(6,311)
(31,168)
1,041,009
289		 -
(12,300)
7,800
404
1,003,819 (4,096)
(66,151)
(2,113)
7,608
(18,215)		 (64,787)
-
(19,538)
(78,871) (84,325)
1,975,218
1,696,790
3,672,008		 954,397
742,393
1,696,790
3,672,008 1,696,790
Cash flow
£
1,975,218
(5,495)
(277)
66,429		 At 31.3.22
£
3,672,008
(5,495)
(66,567)
(605,249)
60,657 (677,311)
2,035,875 2,994,697

32

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

1. ACCOUNTING POLICIES

(a) General information and basis of preparation of financial statements

Julian House is a charitable company and a private registered provider of social housing in the United Kingdom (the Company). The address of the Company is given in the reference and administrative details on page 1 of these financial statements and the nature of the Company's operations and principal activities are provided within the Trustees' Report.

Julian House constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102, The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2018 (SORP), and with the Accounting Direction for private registered providers of social housing in England 2019. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008, the Companies Act 2006 and the Charities Act 2011.

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the organisation and rounded to the nearest pound.

The Statement of Recommended Practice for Social Housing Providers does not make a provision for reporting designated reserves. The Trustees have made the decision to depart from this, and disclose a designated fund as shown in Note 18. Given the Group’s charitable nature, the Trustees decided that this presentation was more appropriate in order to show a true and fair view of the Group’s financial position. In all other regards the financial statements reflect the relevant accounting standards.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Group financial statements

These group financial statements consolidate the results of Julian House (the Company) and its whollyowned subsidiary Julian House Trading Limited, both of which make up their financial statements to 31 March. The results of the subsidiary are consolidated on a line by line basis.

(c) Tangible fixed assets

Tangible fixed assets (including social housing properties) are stated at cost (or deemed cost). Cost includes costs directly attributable to making the asset capable of operating as intended such as the cost of acquiring land and buildings, developments costs, interest charges on loans during the development period and expenditure on improvements. Expenditure on improvements will only be capitalised when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

33

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land Not Depreciated
Non-housing freehold buildings Over 50 years
Leasehold land and buildings Over 10 years
Motor vehicles Over 5 years
Fixtures and fittings Over 5 years

Gains or losses arising on the disposal of tangible fixed assets are determined as the difference between the disposal proceeds and the carrying amount of the assets and are recognised as part of the operating surplus/deficit for the year.

Freehold social housing properties are divided into the major components and charged depreciation, so as to write-down the cost of each component to its estimated residual value, on a straight line basis, over its estimated useful economic life. The group depreciates the major components of its housing properties at the following annual rates:

Land Not Depreciated
Main fabric Over 100 years
Roof structure Over 70 years
Kitchens Over 20 years
Bathrooms Over 30 years
Windows and doors Over 30 years
Mechanical systems Over 30 years
Gas boilers Over 15 years
Electrics Over 40 years

Annually, housing properties are assessed for impairment indicators. Where indicators are identified an assessment for impairment is undertaken comparing the property's carrying amount to its recoverable amount. Where the carrying amount of a property is deemed to exceed its recoverable amount, the property is written down to its recoverable amount. The resulting impairment loss is recognised as operating expenditure. Where a property is currently deemed not to be providing service potential to the Company, its recoverable amount is its fair value less costs to sell.

(d) Investments

Investments in subsidiaries are measured at cost less impairment.

(e) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Last year donated second hand goods were estimated at the value of nil. This year we have again taken a prudent view and estimated the value at nil.

(f) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

34

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

(g) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

(h) Leases

Rentals payable and receivable under operating leases are charged on a straight line basis over the period of the lease.

(i) Tax

The activities of the Company are partially exempt from VAT. Irrecoverable VAT which can be attributed to a capital item or operating expenditure is added to the cost of the capital item or expenses were practicable and material.

(j) Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover represents rental and service charges income receivable in the year net of rent and service charge losses from voids, revenue grants from the government (local authorities) and other income from trading.

Government Grants received as a contribution to revenue expenditure are recognised in the statement of comprehensive income on a systematic basis over the period in which the organisation recognises the related costs for which the grant is intended to compensate. Grants are recognised in the same period as the related expenditure provided the conditions for receipt have been satisfied and there is reasonable assurance that the grant will be received.

Other income streams are recognised when the Company is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. More detail on specific elements of other income streams are provided below.

For donations and non government grants to be recognised the Company will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Company and it is probable that they will be fulfilled. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

No amount is included in the financial statements for volunteer time in line with the principles of the Charities SORP (FRS 102), although the Company is not required to follow the Charities SORP.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Company has control over the item. Fair value is determined on the basis of the value of the gift to the Company. For example the amount the Company would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

35

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable upon receipt it is recognised in stock and ‘Income from non social housing activities’. Upon sale, the value of the stock is charged against ‘Income from non social housing activities’ and the proceeds are recognised as ‘Income from non sical housing activities’. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from non social housing activities’.

For legacies, entitlement is the earlier of the Company being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the Company however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed as a note.

Income from fundraising events and trading activities to raise funds for the Company is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Interest income is recognised using the effective interest method. Any associated income tax recoverable is recognised at the same time as interest income is receivable.

(k) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(l) Employee benefits

When employees have rendered a service to Julian House, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Julian House operates defined contribution plans for the benefit of its employees. Contributions are expensed as they become payable.

Julian House also participates in the Social Housing Pension Scheme (SHPS), which is a funded multiemployer defined benefit scheme. This scheme is accounted for as defined benefit plan for the benefit of its employees and is valued as a share of underlying assets and liabilities belonging to individual participating employers as at 31 March 2022. No new benefits have been introduced and there is no change to the benefits themselves.

A liability for Julian House's obligations under the plan is recognised net of plan assets. The net change in the net defined benefit liability is recognised as the cost of the defined benefit plan during the period. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method. Actuarial valuations are obtained at least triennially and are updated at each balance sheet date.

Further details of the SHPS and its assumptions are included in note 21.

36

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

(m) Restricted reserves

Restricted reserves are those reserves which are only expendable in accordance with the wishes of the funder or regulatory body. Restricted reserves include funds raised in response to a specific appeal. Revenue and expenditure cannot be directly set against restricted reserves but is taken through the statement of comprehensive income and then a transfer to restricted reserves is made as appropriate.

(n) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Company to be able to continue as a going concern.

(o) Judgements and key sources of estimation uncertainty

The key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities include obligations under defined benefit pension schemes (see note 21) and the split and useful lives of components of social freehold housing and other fixed assets (see notes 10 and 11).

2. TURNOVER

TURNOVER
Julian House Group Julian House
2022 2021 2022 2021
£ £ £ £
Social Housing income - note 2a 3,309,299 3,369,889 3,309,299 3,369,889
Non Social Housing income - note 4 4,311,107 3,879,879 3,825,467 3,349,057
7,620,406 7,249,768 7,134,766 6,718,946
SOCIAL HOUSING TURNOVER AND COSTS (JULIAN HOUSE AND GROUP)
2022 2021
£ £
Rent receivable after voids but excluding service charges 2,079,985 2,228,848
Service charges receivable 77,323 78,571
Revenue grants receivable 1,151,991 1,062,470
Social Housing activity expenditure (3,140,638) (3,215,734)
Operating surplus from social housing activities 168,661 154,155
Rent losses from voids (251,258) (188,572)

2a. SOCIAL HOUSING TURNOVER AND COSTS (JULIAN HOUSE AND GROUP)

37

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

3. ACCOMMODATION OWNED AND IN MANAGEMENT

Supported Housing 2022
Property
Units
188		 2021
Property
Units
189

4. INCOME FROM NON SOCIAL HOUSING ACTIVITIES

Other contracted income
Fundraising and donations
Legacies
Charity shops
Julian House Trading
Other
Coronavirus and other business support
grants		 2022
2021
£
£
1,746,600
1,617,769
1,429,874
1,202,614
25,786
102,456
578,906
209,650
409,077
441,585
110,713
290,337
10,151
15,468
4,311,107
3,879,879
Julian House Group		 Julian House Julian House
2022
£
1,746,600
1,429,874
25,786
578,906
409,077
110,713
10,151
4,311,107		 2022
£
1,746,600
1,376,247
25,786
578,906
-
74,163
23,765
3,825,467		 2021
£
1,617,769
1,133,500
102,456
209,650
-
223,368
62,314
3,349,057

Donated services - £55,578 has been included within fundraising and donations for use of New King Street post sale.

5. INTEREST RECEIVABLE AND SIMILAR INCOME

Bank interest receivable
Intercompany loan interest receivable		 2022
2021
£
£
289
404
-
-
289
404
Julian House Group		 Julian House Julian House
2022
£
289
-
289		 2022
£
289
206
495		 2021
£
404
120
524

6. INTEREST PAYABLE AND SIMILAR CHARGES

Bank loans and overdrafts 2022
2021
£
£
18,215
19,538
18,215
19,538
Julian House Group		 Julian House Julian House
2022
£
18,215
18,215		 2022
£
18,215
18,215		 2021
£
19,538
19,538

38

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

7. SURPLUS ON ORDINARY ACTIVITIES

Depreciation - other fixed assets
Deprecation - social housing properties
Loss on disposal of fixed assets
Profit on sale of fixed assets
Auditors remuneration - audit fee
Movement in pension deficit liability
The operating surplus is arrived at after
charging / (crediting):		 2022
2021
£
£
91,431
238,144
19,113
19,118
12,524
2,546
(527,965)
-
17,803
20,857
(18,000)
(11,000)
Julian House Group		 Julian House Julian House
2022
£
91,431
19,113
12,524
(527,965)
17,803
(18,000)		 2022
£
80,692
19,113
5,568
(527,965)
15,126
(18,000)		 2021
£
189,822
19,118
3,546
-
19,160
(11,000)

8. BOARD AND KEY MANAGEMENT PERSONNEL REMUNERATION

The key management includes the trustees of Julian House, the non-executive directors of Julian House Trading Ltd and senior management team as detailed on page 1.

Total remuneration (including employer national insurance and employer pension contributions) for key management personnel of the Company and the Group amounted to £322,511 (2021: £325,214).

No remuneration was received by trustees and non-executive board members.

During the year and the prior year no trustees received reimbursement of expenses.

The Chief Executive is a member of the Social Housing Pension Scheme. She is an ordinary member of the pension scheme and no enhanced or special terms apply. The Company does not make any further contribution to an individual pension arrangement for the Chief Executive.

39

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

9. STAFF NUMBERS AND COSTS

STAFF NUMBERS AND COSTS
~~Julian House Grou~~ ~~Julian House~~
Wages and salaries
Social security costs
Pension costs		 2021
£
3,201,690
256,844
119,103
3,577,637
~~p~~
2022
£
3,504,061
280,334
132,712
3,917,107		 2022
£
3,255,603
263,717
124,432
3,643,752		 2021
£
2,961,793
240,697
110,693
3,313,183

The average monthly number of employees, including members of the management team, calculated on a full time equivalent basis was 142 (2021 :130).

The average monthly number of actual employees, including members of the management team, was 162 (2021 :151).

1 employee received remuneration (excluding employer national insurance contributions and employer pension contributions) over £60,000 (2021: one).

During the year total redundancy and severance payments of £Nil (2021: £18,490) were made in Julian House and £3,420 (2021: £560) in Julian House Trading.

40

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

10. SOCIAL HOUSING PROPERTIES

JULIAN HOUSE AND JULIAN HOUSE GROUP

JULIAN HOUSE AND JULIAN HOUSE GROUP
Cost
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Eliminated on disposal
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
1,454,857
6,311
(4,339)
1,456,829
161,015
19,113
(1,832)
178,296
1,278,533
1,293,842

Social housing properties with a net book value of £1,278,533 (2021: £1,293,842) have been pledged as security for liabilities of the Company. These assets have restricted title.

Included within freehold property is land totalling £294,615 (2021: £294,615) which is not depreciated.

41

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

11. OTHER TANGIBLE FIXED ASSETS

JULIAN HOUSE GROUP

JULIAN HOUSE GROUP
Cost
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
JULIAN HOUSE
Cost
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
1,186,385
-
(730,046)
456,339
269,275
10,835
(220,786)
59,324
397,015		 Leasehold
property
£
591,388
14,050
(28,362)
577,076
346,547
44,921
(18,144)
373,324
203,752		 Motor
vehicles
£
20,446
10,950
(1,200)
30,196
7,456
5,243
(520)
12,179
18,017		 Fixtures
fittings and
equipment
£
215,145
6,168
(21,504)
199,809
156,050
30,432
(18,600)
167,882
31,927		 Total
£
2,013,364
31,168
(781,112)
1,263,420
779,328
91,431
(258,050)
612,709
650,711
917,110 244,841 12,990 59,095 1,234,036
Freehold
property
£
1,186,385
-
(730,046)
456,339
269,275
10,835
(220,786)
59,324
397,015		 Leasehold
property
£
539,772
9,501
(4,595)
544,678
318,594
41,218
(2,106)
357,706
186,972		 Motor
vehicles
£
12,300
-
-
12,300
820
2,460
-
3,280
9,020		 Fixtures
fittings and
equipment
£
190,110
6,168
(15,975)
180,303
142,775
26,179
(14,624)
154,330
25,973		 Total
£
1,928,567
15,669
(750,616)
1,193,620
731,464
80,692
(237,516)
574,640
618,980
917,110 221,178 11,480 47,335 1,197,103

42

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

12. INVESTMENT IN SUBSIDIARY

As required by statute, the financial statements consolidate the results of Julian House Trading Limited, which is a company registered in the United Kingdom, and which is a wholly owned subsidiary of the Company. Julian Housing Trading Limited is not a registered social housing provider. The Company has the right to appoint members to the boards of the subsidiary and thereby exercises control over it. Julian House is the ultimate parent undertaking.

Shares in Julian House Trading Limited Julian House Julian House
2022
£
2
**£ **		 2021
£
2
_£ _

At the year end, the aggregate capital and reserves of the company amounted to minus £261,700 (2021: minus £256,363) and loss for the year amounted to £5,337 (2021: loss of £33,715).

13. STOCK

13. STOCK
Retail stock
14. DEBTORS
Due within one year
Less: provision for doubtful debt
Trade debtors (others)
Prepayments and accrued income
VAT debtor
Other debtors
Due after more than one year
Amounts owed by group undertakings
Amounts owed by group undertakings
Trade debtors (gross social housing rent
arrears)		 2022
2021
£
£
76,462
80,073
2022
2021
£
£
109,602
105,430
(9,284)
(8,341)
73,809
164,971
-
-
247,696
226,207
2,191
4,268
58,125
72,711
-
-
482,139
565,246
Julian House Group
Julian House Group		 Julian House
2022
2021
£
£
4,860
483
Julian House		 2021
£
483
2022
£
109,602
(9,284)
73,809
-
247,696
2,191
58,125
-
482,139		 2022
£
109,602
(9,284)
73,809
40,644
237,395
1,129
58,105
315,255
826,655		 2021
£
105,430
(8,341)
164,971
114,887
218,803
4,268
70,513
229,246
899,777

Amounts owed by group undertakings include formal intercompany loans totalling £76,269 (2021: £97,026) on which interest is charged at Bank of England base rate.

43

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

15. CREDITORS

CREDITORS
Due within one year
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Hire purchase		 2022
2021
£
£
66,567
66,290
134,712
159,316
80,209
64,147
56,838
53,232
574,922
472,378
2,536
-
915,784
815,363
Julian House Group		 Julian House
2022
£
66,567
134,712
80,209
56,838
574,922
2,536
915,784		 2022
£
66,567
124,243
80,209
56,837
560,324
-
888,180		 2021
£
66,290
146,960
64,147
52,732
433,233
-
763,362

16. CREDITORS

CREDITORS
Due after more than one year
Bank loans
Hire purchase		 2022
2021
£
£
605,249
671,678
2,959
-
608,208
671,678
Julian House Group		 Julian House
2022
£
605,249
2,959
608,208		 2022
£
605,249
-
605,249		 2021
£
671,678
-
671,678

Julian House has four mortgages, three with Triodos Bank and one with Bank of Scotland. Bank loans / mortgages are secured by fixed charges on individual properties.

The mortgages are repayable monthly and interest is payable at 2.25% above base rate for two of the Triodos mortgages (with a minimum rate of 2.5%), 3% above base rate (with a minimum rate of 3.5%) for one of the Triodos mortgages and 1.3% above base rate for the Bank of Scotland mortgage.

The mortgages include aggregate amounts of £319,225 (2021: £390,574) which fall due in more than five years and which are payable by instalments.

The obligations under hire purchase are repayable by equal instalments in less than five years. Hire purchase relates to a vehicle used by Julian House Trading Ltd.

44

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

17. OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

2022
2021
£
£
Not later than one year
338,322
288,335
Later than one and not later than five years
301,964
169,159
Later than five years
-
2,833
640,286
460,327
Julian House Group		 Julian House Julian House
2022
£
308,322
233,464
-
541,786		 2021
£
270,585
144,159
2,833
417,577

Julian House has several properties which they occupy for the duration of the associated contracted income. The lease commitment for these properties has been quantified, however if the contracts were terminated the commitment would cease.

45

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

18. UNRESTRICTED FUNDS

Income and Expenditure Reserve

This represents cumulative surpluses net of other adjustments.

At 1 April 2021
Total income (turnover and bank interest)
Total expenditure (operating expenditure and interest payable)
Transfers to restricted reserve
Transfers to designated fund
Actuarial loss in respect of pension schemes
Reserves Carried forward		 Julian House
Group
£
3,296,235
7,620,695
(6,356,780)
(421,880)
(1,043,000)
(29,000)
3,066,270		 Julian
House
£
3,552,599
7,135,261
(5,866,009)
(421,880)
(1,043,000)
(29,000)
3,327,971

DESIGNATED FUNDS

Housing Fund

The net proceeds from the sale of our administrative office have been designated to provide housing for our clients.

At 1 April 2021
Transfers from Income and Expenditure Reserve
Reserves Carried forward		 Julian House
Group
£
-
1,043,000
1,043,000		 Julian
House
£
-
1,043,000
1,043,000

46

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

19. RESTRICTED RESERVES

Revenue and expenditure cannot be directly set against restricted reserves but is taken through the statement of comprehensive income and then a transfer to restricted reserves is made as appropriate. Details of any restricted income received and spent in the year and unspent at the year end are provided below:

Julian House and Julian House Group

There were restricted funds of £464,591 to carry forward at the year end date. Details of restricted monies received and spent in the year are as follows:

Year ended 31 March 2022

Balance
Brought Forward
£
Good Start - Contactless giving
2,743
Hospital Release Fund
1,000
Covid-19 Community Action Fund
124
Domestic Abuse Services
15,043
Manvers Street Refurbishment
3,500
Move on Fund
1,500
Private Rented Sector Access Fund
18,270
Real Change Basingstoke
60
Sport England Inequalties Fund
371
Tenancy Starter Packs
100
Autism Spectrum Disorder Project
-
Client Entertainment
-
Response & Recovery
-
Devon Ripple Fund
-
Employment Support Worker
-
Exeter Emergency Housing Support
-
Footprints Project
-
Groundworks for Devon
-
Healthier & Greener Lives - Devon
-
Healthier & Greener Lives - Wiltshire
-
Julian House Trading
-
Kitchen Equipment
-
Omicron Fund
-
Refuge Playscheme
-
Refugee Services
-
Resettlement Project Devon
-
Specialist Young Persons Coach
-
The Dorothy Hopkins Trust
-
Women's Early Intervention Worker
-
Youth Endowment Fund
-
42,711		 Income in
year
£
4,052
-
5,344
-
13,873
-
1,952
4,184
523
300
1,237
6,279
7,500
4,183
7,025
1,125
996
1,000
33,794
458
22,724
4,629
5,141
4,000
7,560
404,250
12,542
1,920
556,591		 Spent in year
/Transfers
£
(2,387)
-
(97)
(16,146)
(3,500)
(7,126)
(3,156)
-
(698)
(37)
(123)
-
(1,237)
(6,279)
(7,500)
(4,183)
(7,025)
(1,500)
-
-
(33,794)
(119)
(14,038)
(2,595)
(70)
-
(7,560)
(1,496)
(12,542)
(1,503)
(134,711)		 Balance
Carried
Forward
£
4,408
1,000
27
4,241
-
8,247
15,114
2,012
3,857
63
400
300
-
-
-
-
-
(375)
996
1,000
-
339
8,686
2,034
5,071
4,000
-
402,754
-
417
464,591

47

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Year ended 31 March 2021
Balance
Brought Forward
£
Boater Fuel Grant
289
Good Start - Contactless giving
1,648
Hospital Release Fund
13,829
Specialist Custody Liaison Worker
151
Community Activities Storage
-
Coronavirus Community Fund
-
Covid-19 Community Action Fund
-
Domestic Abuse Services
-
Emergency Accommodation Support
-
Exeter Emergency Housing Support
-
Food Independence
-
Footprints Project
-
Julian House Trading
-
Lockdown Meaningful Occupation & Conne
-
Manvers Street Refurbishment
-
Move on Fund (Bath & North East Somerse
-
Move on Fund (Bath & North East Somerse
-
Practice Educator
-
Private Rented Sector Access Fund
-
Protect Plus
-
Real Change Basingstoke
-
Response & Recovery
-
Specialist Female Support Worker
-
Sport England Inequalties Fund
-
Tenancy Starter Packs
-
The Salus Project
-
Women's Early Intervention Worker
-
15,917		 Income in
year
£
500
3,666
-
-
381
3,000
1,000
27,231
5,000
34,598
4,000
16,942
67,010
1,705
3,500
1,500
5,000
18,572
20,000
1,535
60
12,997
29,848
1,063
3,116
4,154
16,583
282,961		 Spent in year
/Transfers
£
(789)
(2,571)
(12,829)
(151)
(381)
(3,000)
(876)
(12,188)
(5,000)
(34,598)
(4,000)
(16,942)
(67,010)
(1,705)
-
-
(5,000)
(18,572)
(1,730)
(1,535)
-
(12,997)
(29,848)
(692)
(3,016)
(4,154)
(16,583)
(256,167)		 Balance
Carried
Forward
£
-
2,743
1,000
-
-
-
124
15,043
-
-
-
-
-
-
3,500
1,500
-
-
18,270
-
60
-
-
371
100
-
-
42,711

48

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Restricted reserve descriptions

Good Start - Contactless Giving

This funding is obtained through contactless giving located at Nationwide bank in Bath. The funds are dedicated to assisting clients moving from supported housing to more independent living.

Hospital Release Fund

The purpose of the fund is to facilitate swift access to appropriate accommodation following hospital discharge.

Covid-19 Community Action Fund

Funding provided for mobile phones to ensure that rough sleepers could maintain contact with their support during lockdown.

Domestic Abuse Services

This funding was donated to provide support for our service providing refuge accommodation.

Manvers Street Refurbishment

Funding to support the refurbishment costs of Manvers Street hostel.

Move on Fund

The purpose of this fund is to assist clients to move from supported housing to independent living.

Private Rented Sector Access Fund

Funding for private rented sector tenancy schemes for people who are, or at risk of becoming homeless.

Real Change Basingstoke

The funds are dedicated to assisting clients moving from supported housing to more independent living.

Sport England Inequalties Fund

To provide exercise equipment for vulnerable supported housing clients during lockdown and to reduce the negative impact of Covid-19.

Tenancy Starter Packs

Funding to provide household and essential items to help clients in the Exeter area to move into their own accommodation from supported housing.

Autism Spectrum Disorder Project

Funds to be used for gardening expenses for the service.

Client Entertainment

Funds donated for the purpose of hosting a movie night at our Bath hostel.

Response & Recovery

Establishing safe storage for rough sleepers belongings, tablets for clients to remain connected with support networks and to provide mental health first aid training.

49

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Devon Ripple Fund

To deliver an early intervention package providing practical and emotional support skills training to progress care leavers along a pathway to independence with a focus on reducing youth homelessness.

Employment Support Worker

To fund an employability support worker to help clients in Bristol to find employment.

Exeter Emergency Housing Support

Funding to provide staffing to respond to emergency housing requirements. Support provided to supported housing clients where the pandemic impacted on earnings ability to pay rent.

Footprints Project

This project supports homeless women, and those at risk of becoming homelessness, who have had children removed from their care, to secure and maintain settled accommodation.

Groundworks for Devon

Funding for the purchase of vouchers for clients in Devon to use for food and essentials.

Healthier & Greener Lives - Devon

Funds to be used to purchase gardening equipment and cookery courses for our clients in Devon.

Healthier & Greener Lives - Wiltshire

Funds to be used to purchase gardening equipment and cookery courses for our clients in Wiltshire.

Julian House Trading

Julian House has a wholly owned subsidiary, Julian House Trading (JHT), registered company number 3450273. JHT’s mission is to operate viable social enterprises which provide quality skills development opportunities, work experience placements, employment support and jobs for socially excluded people, to further the objectives of Julian House. JHT’s existing social enterprises are in Bath and Trowbridge.

Kitchen equipment

This is monies to be used for kitchen equipment for clients in Devon.

Omicron Fund

Funding to reduce the impact that the Covid-19 Omicron strain has on the ability to reduce homelessness.

Refuge Playscheme

Funding to organise events for the children of refuge clients during the school holidays.

Refugee Services

The funds are to provide support for our clients in our refugee service.

50

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Resettlement Project Devon

To fund refurbishment of properties within the prisoner resettlement project in Devon.

Specialist Young Persons Coach

To fund a support worker to supply young people with the skills needed for independent living, and the experienece to secure their own permenant housing, as well as education, training and employment.

The Dorothy Hopkins Trust (previously the Charity of Arthur Thomas Hopkins) Fund

To provide support and funding of projects that support women with mental health problems.

Womens' Early Intervention Worker

A specialist women's early intervention worker to provide wrap-around support to prevent vulnerable women from becoming homeless, while also providing rapid assistance to women sleeping rough so that their situation does not become entrenched.

Youth Endowment Fund

Funding to educate on how to maintain healthy relationships and increasing awareness of domestic violence and abuse.

20. RECONCILIATION OF OPERATING SURPLUS TO CASH FLOW FROM OPERATING ACTIVITIES

JULIAN HOUSE GROUP
Surplus for the year
Depreciation charges
Interest receivable
Interest payable
Profit on disposal of fixed assets
Decrease in stock
Decrease in debtors
Increase in creditors
Increase in pension liability		 2022
£
1,234,915
110,544
(289)
18,215
(515,441)
3,611
83,107
97,608
18,000
1,050,270		 2021
£
562,160
257,262
(404)
19,538
2,546
4,663
73,956
112,097
11,000
1,042,818

51

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

21. PENSION COMMITMENTS

Social Housing Pension Scheme

As noted within the accounting policies, Julian House participates in the Social Housing Pension Scheme (SHPS), which is a funded multi-employer defined benefit scheme. Since 2019 it has become possible to identify the share of underlying assets and liabilities belonging to individual participating employers as at 31 March 2019 and the scheme is now accounted for as defined benefit plan for the benefit of its employees. Prior to this, a liability was calculated as the net present value of the social landlord's deficit funding agreement.

Amounts recognised in the Balance Sheet at 31 March 2022
Fair value of plan assets
Present value of funded obligations
Deficit		 2022
£
320,000
(382,000)
(62,000)		 2021
£
365,000
(409,000)
(44,000)

The amounts recognised in the statement of comprehensive income are as follows

Expenses
Net interest expenses
Changes in the fair value of the scheme assets are as follows:
Fair value of plan assets at start of period
Interest income
Employer contributions
Benefits paid and expenses
Experience on plan assets (excluding amounts included in interest
income) - gain/(loss)		 2022
£
2,000
1,000
3,000
2022
£
365,000
7,000
(45,000)
14,000
(21,000)
320,000		 2021
£
2,000
1,000
3,000
2021
£
332,000
8,000
32,000
14,000
(21,000)
365,000

52

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Changes in the present value of the defined benefit obligation are as follows:

2022
£
Defined benefit obligation at start of period
409,000
Expenses
2,000
8,000
7,000
(9,000)
(14,000)
(21,000)
382,000
The amounts recognised in other recognised gains and losses are as follows
2022
£
(45,000)
Experience gains and losses arising on the plan liabilities - gain/(loss)
(7,000)
9,000
14,000
(29,000)
Experience on plan assets (excluding amounts included in net interest
cost) - gain/(loss)
Interest expense
Actuarial losses/(gains) due to changes in demographic assumptions
Actuarial losses/(gains) due to changes in financial assumptions
Benefits paid and expenses
Actuarial losses/(gains) due to scheme experience
Total actuarial gains and losses - gain/(loss)
Effects of changes in the demographic assumptions underlying the
present value of the defined benefit obligation - gain/(loss)
Effects of changes in the financial assumptions underlying the present
value of the defined benefit obligation - gain/(loss)		 2021
£
365,000
2,000
9,000
(2,000)
2,000
54,000
(21,000)
409,000
2021
£
32,000
2,000
(2,000)
(54,000)
(22,000)

53

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

The categories of scheme assets are as follows
2022
£
Global Equity
61,000
Absolute Return
13,000
Distressed Opportunities
11,000
Credit Relative Value
11,000
Alternative Risk Premia
11,000
Fund of Hedge Funds
-
Emerging Markets Debt
9,000
Risk Sharing
11,000
Insurance-Linked Securities
7,000
Property
9,000
Infrastructure
23,000
Private Debt
8,000
Opportunistic Illiquid Credit
11,000
High Yield
3,000
Opportunistic Credit
1,000
Cash
1,000
Corporate Bond Fund
21,000
Liquid Credit
-
Long Lease Property
8,000
Secured Income
12,000
Liability Driven Investment
89,000
Currency Hedging
(1,000)
Net Current Assets
1,000
Total assets
320,000
Key assumptions
2022
% per annum
Discount rate
2.74
Inflation (RPI)
4.00
Inflation (CPI)
3.39
Salary Growth
4.39
Allowance for commutation of pension for cash at retirement
75% of
maximum
allowance
The mortality assumptions adopted at 31 March 2022 imply the following life expectancies
2022
Male retiring in 2022
21.10
Female retiring in 2022
23.70
Male retiring in 2042
22.40
Female retiring in 2042
25.20		 2021
£
58,000
20,000
11,000
11,000
14,000
-
15,000
13,000
9,000
8,000
24,000
9,000
9,000
11,000
10,000
-
22,000
4,000
7,000
15,000
93,000
2,000
365,000
2021
% per annum
1.91
3.39
2.76
3.76
75% of
maximum
allowance
2021
21.60
23.50
22.90
25.10

54

JULIAN HOUSE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

The Pensions Trust Growth Plan

Julian House also participates in the Pensions Trust Growth Plan scheme, a multi-employer scheme which provides benefits to some 1,300 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the Company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

No deficit contributions are payable by Julian House in respect of this scheme, and therefore no liability in respect of deficit contributions is required.

22. RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemptions afforded by Financial Reporting Standard FRS 102 and not disclosed transactions with group undertakings. Any such transactions are eliminated on consolidation.

The trustee, D Jobbins, is a board member of Komedia Bath Ltd. During the year purchases totalling £600 (2021: nil) were made from Komedia Bath Ltd by Julian House.

The trustee, J Hilton, is a director of Rotork PLC. During the year donations and fundraising totalling £200 (2021: nil) were received from Rotork PLC by Julian House.

The trustee, J Hilton, is a governor of Newbridge School. During the year donations and fundraising totalling £108 (2021: nil) were received from Newbridge School by Julian House.

The trustee P Mackenize-Cummins, is a director of Clearly PR Ltd. During the year fundraising income of £550 (2021: nil) were received from Clearly PR by Julian House.

All our business is conducted on an arms length basis.

23. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the charitable company.

24. EXCEPTIONAL ITEMS

EXCEPTIONAL ITEMS
Profit on disposal of New King Street		 2022
£
527,965		 2021
£
-

55