2021-03-31-accounts

ontents
		Page
Trustees' annual report		1 —12
Independent auditors'	report	13 —16
Statement offinancial	activities	17
Balance sheet		18
Statement ofcash flows		19
Notes to the statement	ofcash flows	20
Notes to the financial statements		21 —35

The Charity's	registered office is lo	cated at:
		Peat House
		Newham Road
		TRURO
		Cornwall
		TR1 2DP
		www. stpetrocs. org.uk
Bankers		Lloyds Bank pic
		PO Box3
		Boscawen	Street
		TRURO
		Cornwall
		TR1 2QT
Auditors		RRL LLP
		Peat House
		Newham Road
		TRURO
		Cornwall
		TR12DP
Investment	Managers	The COIF Charities			Deposit Fund
		CCLA Investment		Management		Limited
		Senator House
		85 Queen Victoria		Street
		LONDON
		EC4V 4ET
Insurance	Brokers	Towergate	Risk Solutions
		Suite 2a
		Gateway Business			Centre
		Barncoose	Gateway		Park
		REDRUTH
		Cornwall
		TR15 3RQ
Accounting	Services	Hippo Business Services
		Office 14
		18Lemon	Street
		TRURO
		Cornwall
		TR1 2LS
Human Resources Consultants		Croner Group Limited
		Croner House
		Wheatfield	Way
		HINCKLEY
		LE10 1YG

orthe period e	nded		3	1M	arch	20	21
												16months to		16months to
											16months to	31 March		31 March
											31 March 2021	2021		2021
											Unrestricted	Restricted
											Funds	Funds
							Notes				E
Income
Donations and	legacies:
Donations and gifts											815,177	106,730		921,907
Bequests											30,500			30,500
Charitable activities:
Grants receivable											87,986	502,966		590,952
Rent and personal			charges								3,013,599	6,863		3,020,462
Other trading activities											12,490			12,490
Investments											2„188	14		2,202
Other Income											257,975			257,975
Total income											4,219,915	616,573		4,836,488
Expenditure
Raising funds											160,993	300		161,293
Charitable activities											3,280,874	613,933		3,894,807
Total expenditure											3,441,867	614,233		4,056,100
Net income for the			period								778,048	2,340		780,388
Transfers between		funds									131,686	(131,686)
Net movement	in funds										909,734	(129,346)		780,388
Total funds on charity status	conversion				to						1,096,986	1,232,081		2,329,067
Total funds carried			forward								2,006,720	1,102,735		3,109,455
St Petrocs activities were transferred							to a	limited		by	guarantee company	with registered		charity status on 1 December
2019.The statement		offinancial				activities		includes			all gains and losses	recognised	in the period.
														16months to
Statement ofchanges				in resources			applied		for		16months to	16months	to	31 March
fixed assets for	charity			use							31 March 2021	31 March 2021		2021
											Unrestricted	Restricted
											Funds	Funds		Total
														f
Net movement	in funds										909,734	(129,346)		780,388
Resources used assets	for net			acquisitions			of tangible		fixed		(290,875)	(30,603)		(321,478)
Net movement activities	offunds available					for future					618,859	(159,949)		458,910

or the period ended 37	March 2021
				At	31 IVlarch 2021
			Notes	E
Cash flows from operating	activities:
Net cash provided by operating activities					695,628
Cash flows from investing	activities:
Investment income received				2,202
Fixed asset additions				(321,478)
Proceeds from sale of property				407,975
Net cash used in investing activities					88,699
Cash flows from financing	activities:
Share capital surrendered on
conversion to charity					(28)
Net cash used in financing	activities				(28)
Change in cash and cash	equivalents	in the
reporting period					784,299
Cash and cash equivalents	on conversion	to charity			805,617
Cash and cash equivalents	at the end	ofthe
reporting period					1,589,916

1	Reconcil	iati	on of	net inc	ome	to net cash provided by	operating activities
							16months
							to 31 March
							2021
							E
	Net income		for the reporting		period
	(as per the		statement	of financial		activities)	780,388
	Adjusted	for:
	Depreciation						80,299
	Surplus	on	sale of office				(257,975)
	Loss on	disposal of		other fixed assets			3,732
	Investment		income				(2,202)
	Increase	in	debtors				(81,729)
	Increase	in	creditors	within	one year		173,115
	Net cash provided			by operating		activities	695,628
2	Analysis	of	cash and cash		equivalents
							At 31 March
							2021
	Cash in	hand					824
	Cash at	bank					1,589,092
	Total cash		and cash equivalents				1,589,916

Donations	and	gifts
						16months
						to 31 March
						2021
						F
Christmas	Appeal 2019/20					153,943
Christmas	Appeal 2020/21					172,019
One off donation		from major donor				250,000
One off donation		from corporate	donor	for emergency	funding	100,000
HM Revenue 8 Customs Job Retention				Scheme		5,686
Other donations						240,259
						921,907

rants re	ceivable
					Unrestricted	Restricted	Total	16
					funds	funds	months	to 31
							IVlarch	2021
							E
Cornwall	Council				35,000			35,000
The National Lottery			Community	Fund		187,643	187,643
Crisis						41,970		41,970
Cornwall	Community		Foundation			14,000		14,000
Homeless	Link				51,269	151,771	203,040
The Duchy Health		Charity				10,000		10,000
The Beatrice Laing			Trust			11,000		11,000
Tesco Bags of Help						25,000		25,000
Other grants (below			610,000)		1,717	61,582		63,299
					87,986	502,966	590,952

5	Other	trading	trading	trading	activities
						16months to
						31 March
						2021
						E
	Fundraising			income		5,550
	Rerit	'				6,000
	Miscellaneous				income	940
						12,490
6	Investment			income
						16months
						to 31 March
						2021
						F
	Bank	interest			receivable	2,202
7	Other	income
						16months
						to 31 March
						2021
						F
	Surplus		on	sale of property		257,975

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et incom	e for the per	iod
			16months to 31
			March 2021
This is stated after charging:
Depreciation			80,299
Loss on	disposal offixed assets		3,732
Operating	leases		517,979
Governance costs include:
Auditors'	remuneration	—audit	5,400
Auditors'	remuneration	—other	1,590

he average nu	mber ofpersons employe	d	by the Charity du	ring the peri	od was	as follows:
						16months to
						31 March 2021
Accommodation						19
Truro Resource Centre —Resettlement		&	Outreach			11
Breadline - Resettlement						3
Freshfield Service						1
Support Services (finance, administration, management)			communications,	fundraising	and	15
						49
he aggregate	payroll costs ofthese persons were as follows:
						16months to 31
						March 2021
Wages						1,881,166
Social security	costs					178,084
Pension costs						82,869
						2,142„119

angible fixed	asset	s
		Leasehold		Furniture
		property	Freehold	and	Office	Motor
		improvements	properties	fittings	equipment	Vehicles	Total
		F		P	K	F
Cost
On conversion charity status	to	123,932	1,727,012	132,381	97,708		2,081,033
Additions		1,440	221,390	28,649	58,605	11,394	321,478
Disposals		(6,255)	(150,171)	(30,897)	(16,640)		(203,963)
At 31 March 2021		119,117	1,798,231	130,133	139,673	11,394	2,198,548
Depreciation
On conversion charity status	to	61,156	141,376	93,375	79,315		375,222
Charge for year		15,669		31,542	31,189	1,899	80,299
On disposals		(3,534)	(9)	(30,757)	(15,931)		(50,231)
At 31 March 2021		73,291	141,367	94,160	94,573	1,899	405,290
Net book value
At 31 March	2021	45,826	1,656,864	35,973	45,100	9,495	1,793,258

Debtors
		At 31 March
		2021
Trade debtors		2,948
Other debtors		17,119
Prepayments	and accrued income	291,808
		311,875

	Current accounts/overnight			deposit								295,339
	Deposit accounts											1,271,314
	Other accounts											22,439
												1,589,092
15	Creditors: amounts falling			due within one year
												At 31 March
												2021
												F
	Trade creditors											105,332
	Taxation and social security											36,231
	Other creditors											4,121
	Accruals and deferred	income										217,854
												363,538
	Deferred Income
	Transfer on conversion		to charity status at I December 2019									18,736
	Amount released to income											(6,780)
	Amount deferred in the		period									10,188
	Balance as at 31 March		2021									22,144
16	Loans and mortgages
												At 31 March
												2021
												F
	District Health Authority	loans secured				on 1 Alexandra			Terrace and 49StGeorge'		s
	Road free of interest and		repayable		on sale of properties (see note 21)							102,056
	Cornwall County Council		- loan free		of interest		secured		with a second charge	on	1
	Alexandra Terrace											5„000
	Carrick District Council	loan		advanced		in November		1990interest free, secured on
	property and repayable	upon sale - 8 Tremayne Road,							Truro (see note 21)			90,000
	Cornwall County Council		mortgage advanced				in 1990		free of interest secured	with
	a second charge on 49 St George's				Road							25,000
												222,056
	Falling due in less than	one		year
	Falling due after more	than		one year								222,056

nalysis of net assets	b	etween	funds
Current period:					Unrestricted Restricted			Total
					fundsf		funds E	funds F
Fixed assets					751,107 1,042,151 1,793,258
Net current assets					1,477,669		60,584 1,538,253
Creditors falling due after more			than one	year	(222,056)		(222,056)
					2,006,720 1,102,735 3,109,455
Restricted funds
				Brought				Carried
				forward	income Expenditure		Transfers	forward
				E	F	E	E	E
Current period:
Assertive Street Outreach				4,118		(172)		3,946
SmartMove - Bond Fund				6,060	14		(1,000)	5,074
Hospital Discharge				5,681	6,863	(13,726)	1,182
Nos Da Kernow				22,828		(29,036)	6,208
Cornwall Community Crisis Grants	Foundation-			418	3,500	(3,052)		866
Truro Resource Centre		Roof Repairs			10,000	(10,000)
Resource Centre Services and Wellbeing Fund					26,732	(25,847)	847	1,732
Winter Services Fund					91,079	(106,806)	15,727
Covid-19 Fund					456,614	(402,491)	(16,266)	37,857
Small grants				5,479	21,771	(16,366)	225	11,109
For Future Operations				44,584	616,573	(607,496)	6,923	60,584
Truro Resource Centre		Building	Grant	21,843		(3,939)		17„904
Falmouth Supported Fund	House Capital			418,291				418,291
Freshfield Capital Fund				150,000			(150,000)
Barncroft Capital Fund				594,092			2,200	596,292
Other Capital Funds				3,271		(2,798)	9,191	9,664
Capital Funds				1,187,497		(6,737)	(138,609)	1,042,151
				1,232,081	616,573	(614,233)	(131,686)	1,102,735

Current	period:	period:			Brought				Carried
					forward	Income	Expenditure	Transfers	forward
								E
Designated		funds:
- Maintenance Reserve					60,000		(70,827)	140,827	130,000
—Salary	Reserve				329,000			103,000	432,000
—Friends	of	St Petrocs			10,765	5,305	(6,418)	(1,110)	8,542
—Future	Development		Fund					657,975	657,975
—Information		Technology		Fund	14,000		(17,885)	24,435	20,550
- Operating		Commitments		Fund	150,000			30,000	180,000
—Capital	Fund				518,314			10,737	529,051
					1,082,079	5,305	(95,130)	965,864	1,958,118
Unrestricted		general	fund		14,907	4,214,610	(3,346,737)	(834,178)	48,602
					1,096,986	4,219,915	3,441,867	131,686	2,006,720

otal future	commitments under non-cancellable	operating leases are as follows;
		Land and	Other
		buildings
		16months to 31	16months to 31
		March 2021	March 2021
		f.	E
Operating	leases which expire:
Within one	year	111,790	7,465
One to two	years		9,696
Two to five	years	484,865
		596,655	17,161