2024-03-31-accounts

St Petrocs Supporting people experiencing homelessness in Cornwall Annual report and financial statements For the year ended 31 March 2024 Registered Charity Number 1187077 Registered Company Number12320784

St Petrocs Contents Page Trustees, annual report 1-15 Independent auditors, report 16-19 statement of financial activities 20 Balance sheet 21 Statement of cash flows Notes to the statement of cash flows Notes to thefinancial statements 24-38

St Petrocs Trustees, annual report For theyearended31March 2024 TheTrustees presenttheirannual report and theaudited financial statementsfortheyearended 31 March 2024. The financial statements have been prepared in accordancewith the accounting policies set out on pages 24to 26 and complywith theCompaniesAct2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 2019}. Purpose and activities Charitable wrpo*- Our Misslon Statement Our ambition is to end homelessness in Cornwall. We believe everybody has the right to be treated with dignity- We believethateverybody hasthe rightto a placeto call home. Making sure everyone has somewhere safe to be, benefits us all. We have failed as a society when some of us are struggling. That is whyour ambition isto end homelessness in Cornwall. Charitable purpose- Our Objects The charIt￿S objects are. for the public tenefit, the provision of housing. social housing, accommodation and assistance in housing individuals, and the provision of associated facilities, services and amenities for the care and sUPPOrt (including but not limited to health care and related advice and educational. occupational and vocational advice and training) of people in need by reason of financial hardship or for anyother reason. Our history and purpose St Petrocs was established as a direct response to people sleeping rough in Truro. It was set up to offer support to those who have nowhereelseto go and acts a5 the last line of defence against someone having to experience rough sleeping. We are an independenL charitable organisation that provides people in need with somewhere and someone to turn to. We believe that access to shelter is a human righL and we all share the basic need of a safe and stable home. Housing insecurity is a social injustice and homelessness is a societal issue. We need to work with all parts of the community to find a lasting solution and end homelessness in Cornwall. Collectively, we can achieve this ambition and build a fairer society for all. The pressureof FX)vertyisvery realformanypeople in Cornwall. High limng costsand low incomes trap people in precarious situation& with no easy way out Cornwall is a sea-locked, mainly rural county with poor transport infrastructure. all of which can lead to isolation. Pressure eventually takes its toll. People can be pushed into homelessness finding themselves in search of a placeto Stay, isolated and dependent on the goodwill of other5 and sometimes with no option but to sleep outside. Everybody deseNes the right to be treated with dignty, no matter what their circumstances background, or identity. We strive to support anyone who may need our seNices, recognising that what is good for one of us is good for us all- every person deservesthe chance to build a life and thrive. St Petrocs has been providing seNicesto people in need in Cornwall for over three decade5. Our goal isto providethesupport and opportunities requiredforourclientstofind a permanent route out of homelessness. The organisation has become an authoritative voice on the issue of homelessnes5. a result, St Petrocs is not only providing much needed seNices to people in crisis but is using its influence to call for lasting change to achieve the ambition of ending homelessness in Cornwall.

St Petrocs Trustees, annual report For theyear ended37 March 2024 Steve Ellis It is with great sadne55 that we include the news of the passing of Steve Ellis in this year's annual report. Steve joined St Petrocs in1999 and becamethe Chief Executive in 2002, a position he held for over 20 years. Steve led St Petrocs through good time5 and bad with integrity and determination, building the organisation into what it is today. He was relentless in his pursuit of social justice and through his hard work and commitment. he helped make a FX)Sitive difference to the lives of tens of thousands of people. Steve was elected to the role of Wice President in 2022 and remained activew involved with the work of St Petrocs until his passing in September 2023. Steve's contribution to society was recognised in the award of Cornwall's high￿ honour, the Trelawny Plate. in July 2022 Steve is great￿ missed by us all. His legacywill live on in the work of St Petroc Intended Impac( aim& and how we achieve them Therearefourelementsto howwe can achieveourambition of ending homelessness in Cornwall, some of which we can dirertly contributetowards and others in which our role must be indirect. For the latter we need to collaborate with partners to have influence and use evidence to effect change. l. Preventing homelessness We take action to prevent anyone becoming homeless wherever possible. We utilise our resources to support those at risk of having nowhere safe to 51ay. Wecollaboratewith national bodieswhoshareourvalues,tocall forchangesto policyto address the needs of those who are at risk of homelessness We Tecognise that the availability of good quality, genuinely affordable housing represents a significant factor in the prevention of homelessnes& We support efforts to increase the number of new houses being built,to bring back unused properties into use and to prioritise local houses for local communitie& Preventlng homelessness this yEar. We helped prevent 211 people from becoming street homeless. Our W￿rk In actlon: Chloe'5 Story, told by a St Petrocs worker: I started working with Chloe who was threatened with losing her tenancy as her accommodation was in a bad state. She was at risk of eviction with a warning given. We5UPPOrted herto contactthe services that might help herand helped herto clear out herflatwith a cleaning agency. She 45 now receiving support from relevant seNices and eviction has been avoided. What is really encouraging now is that she still contacts me before any issues arise in her tenancy, so I can contact agencies on her behalf, therefore preventing homelessness. 2. Making homelessness an exception We will not accept homelessness as an inevitability. Homelessness is avoidable. However, where peoplefind themselves pushed into homelessne4we drawon their experienceto identifywhere earlier inteNention may have prevented their situation deteriorating. We seek to use data and evidence to inform our decision making and to shape the seNiceswe deliver.

St Petrocs Trustees, annual report For theyearended37 March 2024 Intended impa¢ aim4 and hcyw we achIe￿thern (continued) In a rninority of cases, individuals sometimes do not wish to engage with support seNiC￿, for a variety of reasons. We strive to make sure that this is an exception. We keep our door open to everyone so that there is alwayssomewhere and someoneto turn to when theyare ready. Making homelessness an eX￿PtKjn thisyear We have helped1304 people in the lastyear across all our services. Our vrfork In action: We responded to the needs we obseNed and opened a new Women's Space in Penzance providing an opportunityfor women who are homeless to access our seNices and feel comfortable to come and share and just be women together, while feeling safe. Through this work we are able to address complex issues and support our mission to make homelessness the exception. 3. Making the experience of homelessness short We use our resources to act quickly to end homelessness. Through our Outreach and Resettlement Services, we engage with people who are experiencing homelessness and obtain secure accommodation for them where available and work with the relevant agenciesto ensure permanent solutions are found and adequate supwrt is provided. We ensure that people get access to the support which is their basic human right We currently operate our own accommodation for 165 residents, all in single bedrooms with number having en-suite facilitie& We continue to increase the capacity of our supported accommodation seNice sothatwe can respond quicklyto provide accommodation whenever it Is needed. Making the experience of homeles5ne55 short thi5 year. We have been able to provide emergency accommodation through our winter services for 54 people who would otherwise have faced sleeping outside. We were able to provide positive housing outcomes for 44 of the people accessing this service. Our V￿rk In artlon: Mike experienced a mental health crisis after a relationship breakdown, resulting in him running away. He was sleeping rough for a short period and that's when he visited our Breadline Centre and asked for help. A Homelessness Support Co-Ordir)ator placed him in winterservices a couple of days later,where he stayed for one month. It was ideal, it was what I needed. It actually, it helped me deal with a lot of things, it gave me a little safe space to start rebuilding., Mike shares positive feedback of the winter services, "without the winter seNices I don* think I'd be in that strong position todaytotacklewhat I do nexi.. whil￿ in ourwinter services, Mikedeveloped a relationship with the local night church. and began playing their piano regularly and building his confidence. Mike is now in our supported accommodation and, through our Vocational Development Programme, is engaging with our employment and skills programme team. 4. Supporting people out of homelessness for good Evidence showsthat for many people experiencing homelessness, personalised support is crucial to avoid returning to homelessness. At st Petrocs, we believe everyone should be treated as an individual and that their unique identity is vital in providing the support that they need. Our experienced staff develop relationships with clients to build support plans wtth them to meet their needs. We encourage people to take ownership of their options and choices rather than assume we knowwhat is best for them.

St Petrocs Trustees, annual report For theyear ended37 March 2024 Intended impac( alms and howwe achieve them (Contlnued) Our residential seNices offer accommodation with dedicated support to provide a foundarion upon which individuals can stabilise their lives and build towards independent living. Where required, we have specialist skills in supporting people experiencing addiction. Supportlng people out of homelessness for good this year. We were able to support124 people through our employment and skills programme wtth 18 people supported into work Ourwork in action: Dan got in touch to seek our help after he had been pushed into homelessness. The same day, we supported Dan by getting him and his dog Lori into our supported accommodation. Dan has made use of many of our wraparound seNTces while living in our accommodation. This has included our employment and skills programme where he has taken part in lots of actiwties and through this has been able to secure a job. In his own words:'After bucket loads of help and support from the team at St Petrocs, I took part in an eventthey ran where I helped behind thescenes ata breakfast eventfortheir Business Club held at the Rick Stein restaurant in Newquayserving food. I loved it and from that I got a job at the restaurant.. Ourvalues We believethat our organisational values of honesty, integrity, equality and dignityembody how we choose to operate as an independent charity. We believe that these organisational values play an important role in promoting a healthy workplace culture. Our values provide a framework for all staff and volunteers to be empowered to make decisions which are in line with how we choose to operate. Our values allow us to test our decisions and challenge each other constructively so that we can work to achieve our ambition in a positive way. We are committed to maintaining our value5 throughoutthe organisation. St Petrocs is committed to ensuring that it is accessible to everyone regardless of any identity or characteristic. We want to foster an environment free from harassment. unfair and unlawful discrimination where everyone is treated fairly. Equity, as part of thi5. means recognising that some individualsface more barriersto accessing our seNicesthan others. St Petrocs recognises its responsibilities to the env¢ronment and to the local community. We are committed to comply with all relevant environmental legislation as a minimum performance, and to continually improve environmental performance through appropriate initiatives, controls, provision of resources and training of employees. The aim isto minimise adverse impacts on the environment of activities and services within the conte*( St Petrocs operates. Public benefft St Petrocs annually reviews its aims, objectives and activities, and has referred to the Charity Commission's guidance on public benefit when reviewing these aims and objectives and in planning future activitie&

St Petrocs Trustees, annual report For theyear ended37 March 2024 165 124 a¢¢ommodt• at on• Numb•r of p•opl• w• h•lp•d pr•v•nt p•opl• •c¢•J••d Support thr•ugh Our •mploym•nt nd skllls pr•grmm 1,304 329 Number of people we engaged with across all servl¢e Number of p•opl• who stayed In a St petro￿ hou Our non.re•ldentlal team Supported 3,617 visits to our r•soure• e•ntr• In Truro 104 18 4,522 visits to Breadllne our r￿Qurc centre In Penzance whh our •ypp•rt•d Irt• 2,518 engagements wlth th• Outrwch t¢am St P•trK• Wlnter S•rvlrns • Prowld•d 129S 1ndfvEd￿Tr staysov•r 90 ntghts Utlllslng 27 dwtsrent hot•16 and Supported 54 Indlvldua15 Otherw1%• fa¢ing a night outside 81% ofth• peopl• we 5UPPOrt•d dld not rntUTn to sleeping outslde Dweloped a new Wom•n* Spx• supponjng 10 womgn

St Petrocs Trustees, a nnual report For theyear ended37 March 2024 Achlevements and perf0rrnan￿ {formlng part of the stratsgic report) Hwrfe vrfe met our obJectIve￿. Sadly, the demand for St Petrocs, services remains very high. Pressures include the number of people who are seeking our help, rising living costs, including increasing rent levels in the private sector which have not been matched by increases to income, and a squeeze on the availability of genuinely affordable properties for local communities. All of this has led to increased rates of homelessness in Cornwall. Official figures show that levels of rough sleeping nationally. and in Cornwall, have increased dramatically in the last few years During theyear we have worked with a total of 1304 clients. St Petrocs, homeless support services, located in our resource centres in Truro and Penzance, offer people who are sleeping rough. and those vulnerably housed, help to find new accommodation, together with general advice on issues related to housing, benefits and independent living. Food and clothes stores are available, as well as laundry and shower facilities. Homeless support seNices are available as drop-in sessions., appointments are made for assessments and other in-depth work Other activities, run by volunteers, include art and IT sessions, coffee corner and supper club&The Resource Centre in Truro had 3,617 visits during the year and Penzance 4522 Our Outreach team engagewith people who are sleeping rough or at risk of losing their tenancy, to draw them into our homeless SUPPOrt service& link them into other services or failing that, try to secure their personal safety and well-being. The team has a presence in a number of established community centres and other agency drop-in centres across Cornwall so that our services and advice can be delivered within existing community networ1￿. Our Outreach team engaged with those who are street homeless across the county on 2.￿8 occasions. Our Winter Services provide emergency accommodation to people experiencing homelessness during the coldest months of the year. Since the pandemic. our winter services have been delivered in a 'dispersed" manner to accommodate people who would othewise be sleeping outside. This year, utilising 27 hotels and guest houses spread across the county to keep people safely indoors close to their local network of support 54 individuals were accommodated for an aggregate of 1,295 individual stays over 90 nights. 81% of those individua5s did not return to the Streets. This year we were able to provide emergency accommodation in Penzance with thanks to the Department of Levelling Up Housing and Communities who awarded us a two-year grant to deliver this specific place based work due tothe significant demand in the area. Our Freshfield se￿ICe provides a telephone advice-line for those who wish to discuss any aspect of addiction. This includes individuals living with addiction. affected others and frontline professionals. A bespoke face to face counselling service is also available for clients and residents. This year, 60 people used the counselling setvice during 952 counselling session& People also obtained advice, information. and support through the helpline 426times. The goal of our Supported Accommodation service is to support people in their journey towards independent living, providing a platform upon which they can thrive. We aim to deliver the support required to help people avoid future homelessnes We had 181 admissions during the year and we expanded our supported accommodation by an additional 6 bedrooms, bringing the total number of properties to 24 and people we can accommodate at any one time to 165. Last year 329 people stayed in our supported accommodation.

St Petrocs Trustees, annual report For theyear ended37 March 2024 Have met our objectivW. (contlnued) Through our Vocational Development Programme. our employment and skills programme provides an individualised pathway out of homelessness for good supporting our residents with training, education,volunteering,workexperience, and employmentopportunities.Thisyearsaw 124 participants engaging in the project activities. 104 participants took part in community engagement events. 18 participants have moved into employment, a further 27 have taken part n trainir)g activities and 52 courses have been attended. Most of the active participants are engaged with training or education through the project in some way. Volunteers Since launching our newvolunteering programme in April 2022.we have developed a robust and successful onboarding process for our volunteer& We have been able to develop this work to rebuild our volunteer base following the pandemic due to funds from the National Lottery Community Fund's Awards forAII programme. We are attracting volunteers wtth a wide range of skills and knowledge to bring to the organisation, and during the year we had 242 volunteers. Feedback from them is that they feel supported and welcomed to the organisation from the very start of their volunteering journey with us and understand the importance of the rolethey have at St Petrocs. We areworking to expand ourcorporatevolunteering opportunitiesalongsidetheworkwith our business supporter Our plan is to develop more opportunities for our clients to volunteer withirÈ our own services. There are a number of examples where clients have volunteered with us either whilst still receiving support or once they have successfully moved awayfrom homelessness. We intend to develop a structured programme for people to slay involved with St Petrocs and contribLTte to the mission of ending homelessness in Cornwall. In the lastyearwe were nominated for a King'sAward forvolunteering in recognition of our work with volunteers overthe year We have maintained our tradition of providing training for students studying BA and MA Social Studies at the University of Plymouth. During the period we provided four placements. We are currently exploring opportunities with the local universtties to engage more students in volunteering to add value to our work Fundralsing and Engagement St Petrocs is registered with the Fundraising Regulator and has committed to its voluntary code of conduct. We are also members of the Chartered Institute of Fundraising and maintain best practice in our work. People are at the heart of what we do, and that includes our supporter& Therefore. we believe in strengthening supporter relationships through good and appropriate communications,. by saying Yhankyou" in the rightway, bytaking thesupporteron a journeywith a viewthatthrough good experiences,they maywishto donate again. Ourfocus is on the donation experience being les5 transactional and more personal. For thi5 reason, we do not undertake direct fundraising campaigns to the general public or use third parties for this purpose. The St Petrocs style of stewardship is well established and embedded across the organisation. In the last year, having delivered the aims of our fundraising strategy, we have brought together the fundraising, communications, supporter care, community engagement and volunteering functions in the organisation to develop greater engagement both internally and externally.

St Petrocs Trustees, annual report For theyear ended37 March 2024 Fundraising and Engagement [continued) Priorities in our engagement over the last year have included embedding a culture of stewardship across all our worK meaningftjl Storytelling to engage, diversify and increase fundraising income, under5tsnding our audience and analysing giving trends within our organisation to help set our direction for our fundraising strategy. Lastyear we held a series of events including our 10th Eden Sleep Out event and ourfirst Charity Dinner both raising over aO,000 each. We have received grant funding from a number of organisationsthisyear including Albert Hunt Trust, Cornwall Community Foundation, Cornwall Council. the Department of Levelling Up, Housing and Communities, Garfield Weston Foundation andthe UKShared Prosperity Fund. We are incredibly grateful to all those organisations which support our work through grants each year and maintaining and developing relationships with grant funders will continue to be an integral part of our fundraising strategy. A positive development of our grant funding over the lastyear has been the *curing of some multi-year grantswherewe havefunds pledged overthe next two years. We have also been grateful to have received a generous donation from an individual of £50.000. Ourannual WinterAppeal,which i5SUPPOrtedwidelybymembersofthe community in Cornwall, including numerous local churches. voluntary group& and local businesses, raised 090573, our highest evertotal and a IO% increase on the previousyear. We are pleased to report thatwe have not received anycomplaints about any of ourfundraising activities. Partnets Our ambition to end homelessness in Cornwall will require sustained endeavour over the long- term. It will only be achieved through co-ordinated, collaborative effort and we need to look to all sections of society to be part of the solution. By addressing the root causes of homelessness, increasing the availability of genuinely affordable housing for local people, providing adequate supportservices, and involving all parts ofthecommunity,we canworktogethertowardsa future where everyone has a safe and secure placeto all home. Working with other organisations allows us to access, develop, and share best practice, have influence, use evidenceto effect change, obtain help for ourclientsfrom other agencies without duplication of worl develop our seNices in the future and secure funding. An example ofthe impact of this objectivethi5 year has been our partnership with the Duchy of Cornwall, The Royal Foundation of the Prince and Princess of Wales and Homewards. St Petrocs is part of the Duchyofcornwall'sfirsi innovative housing projectdeveloping home5for24 people in which we will provide wrap around SUPF)Ort for local people experiencing homelessness. St Petrocs is a member of a number of national bodies who provide training and support and with whom we share best practice guidance within the sector. These include Homeless Link, National Housing Federation, CentrepoinL Cornwall Voluntary Sector Forum's Housing and HomelessnessAlliance.

St Petrocs Trustees, annual report For theyear ended31 March 2024 Partners (continued) We launched our own Business Club last year and are pleased to have formally welcomed 17 businesses who have collectively raised over £30,000 in the last year in financial donations alone. Our presence is well established in the local business community in Cornwall and we are also well supported by businesses beyond our business club. Furthermore. we have developed very strong relationships with a number of private landlords which have continued to enable us to increase our levels of supported accommodation in response to the demand we face. We continue to work with local agencies and churches in working toward our ambition of ending homelessnes We have been delivering community events which have been a great development in our work to engage people across the whole organisation in events and activities around Cornwall. We seek to create inclusive environments where our staff, volunteers, clients, business club members, other agencie5 and sUPPOrters all come together to undertake activities from beach cleans and tree planting, to Coast Path Connectors, monthly walks. These help develop meaningful connection and engagement in our work Financial review (forming part of the strategic report) St Petrocs has a prudent approach to financial management. We are an independent charity. Whilst some residential housing costs are funded by Housing Benefit, all support activities are funded by charitable means, either through grants from charitable bodi￿ government grants or through fundraising activities and donation& The current cost of living crisis continues to have an impact on our charity. Like so many other organisations and individual& we have seen a huge rise in our energy costs as well as general inflationary pressures. We have worked hard to mitigate these cost increases by ensuring our service delivery is the best it can be and by keeping our core costs to a minimum. The cost of living crisis not only affects our organisation; it impacts our staff, our volunteer5, our donors and, crucially, the number of clients that are currently seeking help. As households continue to struggle to maintain their siandard of living we anticipate that demand for our services will increase further still as people's ability to retain housing will come under increasing pressure. especially given the property market in Cornwall Still remains strong. Our reserves remain robust and we undertake regular updating of our financial forecasts which enables us to take corrective action rf necessary. Grant making policy The Charity does not make grants to other organisations. Reserves policy The Charity holds reserves in order to meet future operating commitments to protect the Charity against anyfluctuations or cessation of incomeflows and for itsfuture developments. Our total restricted funds amount to Q.057.63812023: ￿,101365). Of this funds that can only be realised by disposing of property amount to ￿.027,074(20?3.. 0,033,611). The remainder of these funds are allocated to the project for which they have been received. The Board reviews the level of unrestricted fvnds each peri(yJ and designates funds for future use based on infrastructure requirements repairs and maintenance.seNice development, future depreciation of other fixed assets. as well as providing for future salary and operating commitments.The Board aimsto balancethefuture operating requirements of the organisation with ensuring we meet the needs of our clients.

St Petrocs Trustees, annual report For theyearended37 March 2024 Reserves FM)licy (continued) At the end of the year, total designated funds amount to £2.692,561 P023: £2.313,6931. Of this, £550,00012023'. £474,040) isforthe purchase of additional supported accommodation, partially derived from the kind donations of a major donor in previous years. We acknowledge that as the need for our services grow we need to be able to offer additional accommodation and will look to purchase suitable property in the near future. The balance of general funds amounts to £42,925 P023'. £43,067). We endeavour to hold at least three months, worth of overhead costs in bank balances. Going concern policy The trustees have assessed the Charity's abilityto continue as a going concern. This assessment has involved reviewing the Chariws financial position, future plans, budgets, cash flowforecasts, and potential risks and uncertainties that may impact the Charl￿5 operations. After careful consideration, the trustees are confident that the Charity has suffficient resources to continue operating for the foreseeable future. The Charity has a robust financial strategy in place, which includes maintaining adequate reserves and implementing sound financial controls. Additionally, the trustees are satisfied that the Charitys activities and income streams are sustainable,and that appropriate measures are in placeto manage identified risks.Therefore,the trustees have a reasonable expectation that the Charity will continue in operational existence for the foreseeable ftjture and have adopted the going concern basis in preparing the financial statements. Investment policy and objectives Investments are spread across a number of banks and building societie5 which has been facilitated by using the CAF (Charities Aid Foundation) Charity Deposit Platform. This has allowed US to efficiently and effectively reduce the risk associated with holding funds with one provider. Somefunds are also held in a no noticedeFX)Sit account run byCOIF (Charities Investment Fund). No equity investment is conducted. Plans for future periods Our plansforthefuture areto build on our recent past pefftlrmance. Whilstthere isa continuing need for the residential services we provide. we will continue to grow our supported accommodation capacityto meet the demand. Our growrh will be considered which will allow us to maintain stability in our staff team and ensure services are managed to the same high standards we set ourselves. We will continue to develop sustainable funding streams to support our important non- residential work meaning wewill beableto maintain ourfocus on person-centred support atour resource centres, via our outreach team and through our counselling and vocational developmentteams. At our trustees meeting on 26th June 2024 the trustee5 agreed to prepare an application to register with the Regulator of Social Housing in order to become a registered social landlord. This work will take place in the coming month We are undertaking a review of our supwrt offer with a specific focus on co-creation and client participation. The intention is to have client participation at all levels within the organisation, including at board level. Tax status The company is a registered charity and as such is not liable to corporation tax on its charitable activities. io

St Petrocs Trustees, a nnual report For theyear ended31 March 2024 Reference and administrative details Name of the Charity. Charity registration number. Company registration number. Governing instrument: Constitution: Website: St Petrocs 11870T7 12320784 Articles of Association Company limited by guarantee wwwstpetroc&org.uk Trustees Margie Ricardo Chair Rt Revd Hugh Nelson President Geoff Tate Vice President Resigned 26th June2024 Roger Carson Vice Chair Sally Attwell Donna Birrell Flevd Charles Blizzard Resigned 26th June 2024 Tom Duncan Drjames Oliver Victoria Sewell Appointed 26th June 2024 Jonathan Sparkes OBE Rachel Thomson The above constitute directors of the company for the purposes of the Companies Act 2006 and trustees of the Charity for the purposes of the Charities ACL Key management personnel {Officer5) Vice President Steve Ellis Resigned 29th September 2023 Chief Executive Henry Meacock Director of Finance and Company Secretary Judith Dumbrell Director of Operations- Residential Serwces Francois Voges Director of Operations- Non-Residential Russell Bower Setvices Director of Engagement Director of Service Development Loi5 Wild Appointed ioth November 2023 Appointed 26th February 2024 Amanda Wright

St Petrocs Trustees, annual report For theyear ended37 March 2024 Prlncipal addre55 of the charity The Charity's registered office is located at: Peat House Newham Road TRURO Cornwall TRI 2DP .stpetrocs.org.uk Bankers Lloyds Bank plc POBox3 Boscawen Street TRURO Cornwall TRI 2QT Auditors, RRL LLP Peat House Newham Road TRURO Cornwall TRI 2DP Investment Managers The COIF Charities Deposit Fund CCLA Investment Management Limited One Angel Lane LONDON EC4R 3AB Insurance Brokers Towergate Risk Solutions Sutte 2a Gateway Business Centre Barncoose Gateway Park REDKIUTH Cornwall TR15 3RQ Human Resources Consuliants Stephens Scown Solicitors LLP Osprey House Malpas Road TRURO TRI IUT Health and SafetyAdvisors Croner Group Limited Croner House Wheaffield Way HINCKLEY LEIO IYG 12

St Petrocs Trustees, annual report For theyear ended37 March 2024 Structure, governance, and management Governlng document St Petrocs is registered asa charttywththeChartyCommi5gon and asacomparylimited byguarant at Companies HoLSe. In June 2024 we adopted the CharityGovernance Code for larger charitie& Organisational structure Our clients come from all walks of life, and so do the trustees, staff and volunteers. We wholeheartedly believe that a broad diversity of thought. identity. background, and lived experience make5 us a stronger organisation. We are committed to building an inclusive environment where people of all backgrounds are treated fairly and feel a genuine Sense of belonging. Our staff have always been empowered to expresstheirviems and knowtheywill be heard. Their ideas suggestions and contributions have shaped St Petrocs and the way we operate our services. Every day, they meet an avalanche of decisions-some a matter of life and death- and we trustthem to make the right choi￿. Alongside quality training, support. and essential resources, they are given full autonomy within ourframeworksto deal with the sltuation at hand, because we believe that they are the experts. It pays off. and we are delighted to have been recognised as a leading employer of choice with our Investors in People 'Gold Award- accreditation. In November 2021 we were awarded with the Investors in People national prize of Yhird Sector Employer of the Year". These tremendous achievements underscore St Petrocs, positive working culture. driven by strong core values clear purpose, and a motivated. competenc flexible, and committed staff group. We hold the ISO 9001 (Quality Management Systems). ISO 14001 (Environmental Systems) and Cyber Essentials accreditations as well as certification through the Contractors Health & Safety Assessment Scheme ICHASI. The senior management team comprises the Chief Executwe, Dirertor of Finance, Directors of Residential and Non-Residential SeNices, Director of Service Development and Director of Engagementwho lead theirteamsto provide the best quality of service possible. The trustees are responsible for the strategic leadership and control of St Petrocs-, for ensuring compliance with our values vision, mission and objectives and for providing oversight and direction to the Chief Executive and staff. The trustees elect a chair annually who is responsible for the leadership of the Board of Trustees and for ensuring tts effectivenes The board have nominated championsfor keyareasof ourwork including diversityand inclusion, the environment, property matters, safeguarding, and events and fundraising. The collective expertise of the board covers a variety of disciplines including religion, social care, education. health, propety, business and finance. Members seNe for terms of three years that may be renewed. The board meets quarterly with additior)al meetings if required. The Board had no formal sub- committees during the period. It receives a regularflow of information concerning client services, finance and other significant matters. Implementation of board decisions is the responsibility of the Chief Executive and the managementteam. 13

St Petrocs Trustees, annual report For theyear ended37March 2024 Recruitment and induction of trustees Information packs covering the activrty and governance of St Petrocs are available to prospective and new trustees. New trustees undergo an induction programme involving site visits and meetings wtth staff. The strength and composition of the board is kept under constant review and new trustees are recruited where there are gaps in knowledge and experien￿ of the existing trustees. Pay policy ftir senior staff The Board consider the trustees and the senior management team to comprise the key management personnel of the Charity. in charge of directing. controlling, running and operating the Charity on a day to day basi& All trustees give their time freely and no trustee received any remuneration in the period. Details of the trustees, expenses and related party transactions are disclosed in note10 to the financialstatemen The pay of all staff 15 remewed regularly in relation to C05t of living rises and benchmarked against pay levels in other similar organisations. In May 2023. we became a Living Wage accredited employer, making a public commitment to our staff that theywould always receive a fair rate of paythat enables them to meet the real cost of living. Related parties None of the trustees receive remuneration or other beneftt from their work with the Charity. Any connection between a member or senior staff member with any beneficiary or supplier of the Charity is disclosed to the Board in the same way as any other contractual relationship with a related party. Risk management St Petrocs has developed a Risk Management framework, enabling board members to have visibility of risks that arise both on a strategic level and those operational risks that are sufficiently serious that they require board scrutiny and assurance. The flisk Management Framework is supported by a risk register and a risk management policy to ensure that risk management is embedded throughout the organisation. The board considers the risk register at each board meeting so that risks are managed in an appropriate way asand when they arise. We believe that the Charity is adequately insured for all liability risks including the actions of Officers,Volunteers and the Board members The charity recognises the need to comply with the Data Protection Act 2018. We are registered with the Information Commissioner and have implemented FK)lices and processes to ensure compliance with its statutory obligation& To ensure proper compliance we have a contract with Cronerto provide Health and Safety advice and we are utilising the services of a leading local firm of solicitors to provide Human Resources Services. Risk assessments for all activities are carried out and checked on a regular basis to ensure all policies and procedures are adhered to. We take seriously our responsibility to provide an environment for staff, clients, residents and volunteers that Is safe and free from discrimination and victimisation. The charity has formal safeguarding policie5 in place which are reviewed regularly, and staff also receive specific training in relation to both health and safety and safeguarding. 14

St Petrocs Trustees, annual report For theyear ended31March 2024 ststement of trustees, responsibilities The trustees (who are also directors of St Petrocs for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- Company law requiresthe trustees to prepare financial statements for each financial year. Under company law the trustees musi not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting FX)licies and then apply them consistently, observe the methods and principles in the Charities SORP 2019 IFftS1021' make judgements and estimates that are reasonable and prudenL state whether applicable UK Accounting Standards has been followed subject to any material departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial posttion of the charitable company and enable them to ensurethatthefinancial statementscomplywith the CompaniesAct 2006.They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement of disclosure to auditor In 50 far as the trustees are aware: there is no relevant audit information of whichthecharitable cOmpan￿saUdItOr is unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to esiablish that the auditor is aware of that information. This report has been prepared in accordance with the special provision of Part 15 of the Companies Act2006 relating to small companies. In approving the Trustees. Annual Report we also approvethe Strategic report included therein, in our capacity as company trustees. By order of the Board Peat House Newham Road TRURO TRI 2DP M Rrcardo Trustee Is

St Petrocs Independent auditors, report to the members of St Petrocs Oplnlon We have audited the financial statements of St Petrocs ILimited by guarantee) Ithe 'charitable company'l for the year ended 31 March 2024 which comprise of the income and expenditure accour)t, the statement of financial activities, the balance sheet, statement of cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial ReFX)rting Standard 102 The Financial Reporting Standardapplicable in the UKIUnited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statement&. give a true and fair view of the state of the charitable compan￿5 affairs as at 31 March 2024, and of its incoming resources and application of re50urce& including its income and expenditure. for the year then ended: have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the Companies Act 2006. Basis of opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII 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 charitable 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 ewdence we have obtained is sufficient and appropriate to provide a basi5 for our opinion. Conclusions relating to going concem In auditing the financial ￿atements we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the workwe have performed,we have not identified anymaterial uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable company's abilityto continue asa going concern fora period of at leasttwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitie5 of the directors with respect to going concern are described in the relevant Sections of this rewrL Other Inft>rmation The board is responsible for the other information. The other information comprises the information included in the annual report, otherthan 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. 16

St Petrocs Independent auditors, report to the members ofst Petrocs 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 appearsto be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 facL We have nothing to report in this regard. Opinions on other matters prescrlbed twthe Companles Act 2006 In our opinion, based on thework undertaken in the course of the audit. the information given in the trustees. annual report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial 5tatements'. and the directors. report has been prepared in accordance with applicable legal requirements. Matters on which the auditor is required to report byexception In the lightof our knowledge and understanding of the charttable companyand its environment obtained in the course of the audit, we have not identified material misstatements in the directors. report included within the trustees. reporL We have nothing to report in respectof thefollowing matters in relationtowhich thecompanies Act 2006 requires US to report to you if. in our opinion: adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the charitable compan￿5 financial Statements are not in agreement with the accounting records and return% or certain disclosures of directors, remuneration specified by law are not made.. or we have not received all the information and explanationswe require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic reporL Responsibilities of the Board As explained more fully in thetrustees, responsibilities statement set out on pagelsthe trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fairview, and for such internal control asthetrustees determine is necessaryto enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 17

St Petrocs Independent auditors, report to the members of St Petrocs In preparing the financial statements, the trustee5 are resw)nsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using thegoing concern basis of accounting unlessthetrusteeseither intend to liquidate the charitable company or to cease operations or have no realistic alternative but to do so. Auditorfs resF)onsibilities for the audit of thefinancial 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 auditorfs reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 userstaken on the basis of thesefinancial statemen Irregularities, including fraud. are instances of non-compliance with laws and regulations We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregulariiies. including fraud. As part of our auditworK we obtained an understanding of the legal and regulatoryframeworks applicableto the charity and the Sector in which theyoperate. We determined thatthe laws and regulations that were most significant were those that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. the Charities Act 2011, and compliance with the Charities Statement of Recommended Practice. In addition, we have considered provisions of other laws and regulation5 that do not have a direct effect on the Inancial statements but compliance with which may be fundamental to the Charit￿5 ability to operate or to avoid a material penalty. These include data protection regulations, health and safety regulations, licensing acts and employment legislation. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below. Obtain an understanding of the legal and regulatoryframeworks applicable to the company and the sector in which it operate& We determined that the following laws and regulations were most significant.. the Companies Act 2006, the Charities Art 2011, Health and Safety egulations, Safeguarding and GDPR Review of the disclosures in the financial statements and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effert on the financial statemen Enquirie5 of management concerning actual and potential litigation and claims- Performing analytical prO￿dureS to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud: Reviewing minutes of meetings and correspondence with regulator5: Performing audit work in connection wtrh the risk of management override of controls, including testing journal entries for reasonableness. evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for potential bias. We also communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 18

St Petrocs Independent auditors, report to the members of St Petrocs Our audit approach also considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud being in respect of cut off and completion risk around revenue recognition. Under ISA IUKI we are also required to undertake procedures to respond to the risk of management override of controls. Our procedure5 included the following- Undertaking transactional te5fing on revenue Performing completeness testing on the rental income Performing cut off testing on income Auditing the risk of management override of controls including through testing journal entries and other adjustmentsfor appropriateness, and evaluating the business rationale for significanttran5actions Outsidethe normal course of business Fleviewing estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making estimates. Because of the inherent limitations of an audiL there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealmerit, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website aL httpsjlwww.frc.org.uklauditorsrespon5ibilitie* This description forms part of our auditorfs reporL Use of our report This report is made solely to the charttable compangs members. as a body. in accordance with Chapter 3 of Part16 of the CompaniesAct2006. Our auditwork has been undertaken sothat we mightstatetothe charitablecompan￿s membersthose mattersweare requiredtostatetothem in an auditor's report and for no other purpose. To thefullest extent permitted by law. we do not accept or assLJme responsibilityto anyone other than the charitable company and the charitable compan￿5 members as a t¥xly. for our audtt worK for this reporL or for the opinions we have formed. eve Josh Stevens ACA (Senior StatutoryAuditor) For and on behalf of RRL LLP Chartered Accountants Statutory Auditors Peat House Newham Road TRURO TRI 2DP

St Petrocs Statement of financial activities For theyear ended37 March 2024 Yearto Yearto 31 March 31 March 2024 2024 Unrestricted Restricted Funds Funds Yearto 31 March 2024 Yearto 31 March 2023 Total Total Notes Income Don8tionsandlegacie& Donations and gifts Bequests Charitable activities Grants receivable Rent and personal charges Other trading activities Investments 462484 11475 475.959 446,897 47,873 1.417 1180.479 39.147 516,195 Z761,572 18,613 20,044 1180.479 39.147 59J53 Total income 176&424 471.692 4240,116 3,811,194 Expenditure Raising fund5 Charitable acti¥Yties i2Z789 3260.789 7￿778 520.150 1780.939 120,664 3,670.649 Totsl expenditure 3.90&T17 3,791513 Net income l (expendtture) for the year 384846 (50047) 333.999 19,881 Transfers between funds (&i20) T20 Net movement In funds 37&T26 (44,T27) 333.999 19,881 Total funds brought forward Z35Q760 I.I(YZ365 S￿.725 3,439,244 Total fijnds carried forward ZT3&486 l.OS7.638 3,793,124 3,459,125 The statement of fir)ancial activities includes all gains and losses recog nised in the years to 31 March 2024 and 31 March 2023. Yearto Year to 31 March 31 March 2(Y24 2024 Unrestricted Restricted Funds Funds Yearto 31 March 2024 Yearto 31 March 2023 Statement of changes In resources applied for fixed assets for chartty use Totsl Total Net movement In funds 37&T26 (44,TZ4 34999 19,881 Resources used for net acquisitions of tangible fixed assets OZ76) (346801 1448,8071 Net movement of funds available for future actlvltles (44003) 299319 1428,9261 20

St Petrocs Balance sheet As at37 March 2024 At31 March2(r24 At 31 March 2023 Fixed assets Tangible assets ii Z128287 1160,409 Current assets Debtors Cash at bank Cash in hand 12 13 450,1 I￿5￿405 413571 1537,749 3308 a309.¢Y70 1,954,428 Creditors: amounts falllng due within one year 14 (4ai77) 1433,6561 Net current asets 1,520,T72 Totsl assets less current Ilabllltles 401&l80 3,681,181 Credltors amountsfalling due after morethan oneyear 15 P2Z0561 Net assets 16 795124 3,459,125 Funds of tPE charlty Restricted funds Unrestricted funds Designated funds General fund 17 1.057.638 1,102365 18 2313.693 43,067 4Z925 Z73&486 2356,760 Total charity fvnds 16 3,791124 3,459,125 The financial statement5 have been prepared in accordancewith thespecial provisions of Partl5 of the Companies Act 2006 relating to small companies and constitute the financial statements required by the CompaniesAct 2006 and are for circulation to members of the company. Signed on behalf of the trustees on by. T I,￿￿d0 M Ricardo Trustee Company registration number 12320784

St Petrocs Statement of cash flows For theyearended37 March 2024 Yearto 31 March 2￿24 Year to 31 March 2023 Cash flows from operating actmtie Net cash provided by/ {used in) operating activities 295169 04,6521 Cash flows from investing actmtieg Investment income recewed Fixed asset additions S9JS3 (34.680) 20,044 1448,8071 Net cash provided by I (used in} investing activities 24E73 1428,7631 Change In cash and cash equivalents in the reporting year 317,842 1443,4151 Cash and cash equivalents at the start ofthe reporting year i￿7,0s1 1,984.472 Cash and cash equivalents at the end of the reportingyear 7￿58099 1541,057

St Petrocs Notes to the statement of cash flows For theyearended37 March 2024 Reconciliation of net income to net cash pr￿ided bjl (used In) operatlng actiVit￿S Yearto March 2U24 Yearto 31 March 2023 Net income forthe reporting year las per the statement of financial activities) Adjustedfor Depreciation Investment income Ilncreasel I decrease in debtors IDecreasel in creditors within one year 19,881 $8,504 PO,0441 6,898 179,8911 (59JSS) (3fi8W) 01.479) Net cash provided byl [used in) operating activitses 293.169 04,652 Anatysis of cash and cash equivalents At3[ March At31 March 2024 2023 Cash in hand 494 3308 I,S37,749 Cash at bank I055/•05 T¢)tsl cash and cash eqUI￿dIents i.8S8,899 1,541,057

St Petrocs Notes (forming partof the financialstatementsj The company is limited byguarantee and does not have a share capital. In the event of the company being wound up each member 15 liable to contribute a sum not exceeding £1. There were 16 members at ￿ March 202412023". 161. AccountingwlKies The following accounting KX)licies have been adopted in dealing with items which are considered material in relation tothe preparation of the CoMpan￿SfInanClal Statements. Zl Baslsofpreparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of tlecommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 1021 (effective l January 20191- (Charities SORP IFRSO0211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the CompaniesAct2006. St Petrocs meetsthe definition of a public benefitentity under FRS102.Assetsand liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. 2.2 Going concem At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thu5 the charity continues to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Incoming resLwrces Incoming resources including grants receNable are accounted for in theyear in which the Charity 15 entitled to receipt. Rent and personal charges are recognised in the financial statements when certainty of receipt can be reasonably expected. Depreciation on capital grant funded assets is charged against the relevant restricted or designated funds. No amount is included in thefinancial statementsforvolunteerstime in linewith the SORP IFRS 1021. 24 Beque5tsandlegKles A legacy or bequest is recognised in the financial statements when the certainty of receipt and the amount receivable has been established. Z5 Donat￿n$ Donations are recognised in the financial ￿atements when they are receivable. Donated assets are capitalised at a value equivalent to market value atthe date of donation. 24

St Petrocs Notes (forming part of the financialstatementsj Expenditure is included on an accruals basis. The irrecoverable element of VAT is included within the item of expense to which it relate& Certain expenditure is dirertly attributable to specific activities and has been included in those cost categories. Other costs. which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimated usage of each seNice provided. 2.7 Tangible fixedassets Tangible fixed assets are ststed at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on tangible fixed assets at annual rates appropriate to the useful life ofthe asset and its residualvalue.The ratesand basesof depreciation applicabletoeach class of asset are as follows- Freehold propety Leasehold property Furniture and fittings Office equipment Motor vehicles Overthe term of the lease 33113% straight line 3311 % straight line 25% straight line 2.8 Debtorsandcreditors Debtors receivable and creditors payable within one year or after more than one year are recorded at transaction price. 2.9 Loansandbormmngs 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 impairmenL If an arrangement constitutes a finance transaction, it 15 measured at present value. 2.10 Concessi￿arY￿anS Concessionary loans are loans provided at below market rates and are recognised in the accounts at the amount received with the carrying value adjusted to reflect repayments made in subsequent periods.The onlyconcessionary loans in the accounts are interestfree and secured on properties held bythe charity (see note 15 for further details). 2.11 UnreStr￿t￿anddesUnatedfvnds These funds have been made available to the Charity without specific conditions. The use of unrestricted funds is entirely at the discretion of the trustee5. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 2.12 Restnctedfurn These funds are made available to the Charity with specific conditions imposed by the donors asto the nature of their use.

St Petrocs Notes (formingpart of the financialstatementsj 213 Transfers Transfers are made when appropriate from a specific fund to recover costs incurred not charged directly to that fund. 2.14 Taxation The Charity is an exempt charitywithin the meaning of schedule 3 of the Charitie5 Act2011 and is considered to pass the test set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable companyfor UK corporation tax purposes. 2.IS EmploJpe benefits When employees have rendered seNice to the Charity. short-term employee benefits to which the employees are entitled are recognised atthe undiscounted amount expected to be paid in exchangefor that service. The Charity operates a defined contribution pension plan for the benefit of its employees. Contributions are expensed as they become payable. 2.16 Operating leases Rental charges are charged in the statement of financial activities on a straight line basis over the life of the lease. 2.17 Judgementsandkeysource5 of&stsination uncertainty In the application of the CoMpan￿S accounting FX)licies the trustee5 are required to make judgements, estimates and assumptionsaboutthe carrying amountof assets and liabilities that are not readily apparent from other source& The estimates and associated assumptions are based on historical experience and otherfactor5 that are considered to be relevant. Actual results may differ from these estimates. The current value of freehold properties is considered annually by the trustees. Depreciation is not provided as the trust￿5 believe the market value, and therefore the residual value, of the properties exceeds the historical value shown in the financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisionsto accounting estimates are recognised intheyear in which the estimate is revised wherethe revision affects only that year, or in the year of the revision and future years where the revision affects both current and future years. t)onations and gifts Unrestricted funds Restricted funds Yearto March 2024 Yearto 31 March 2023 Winter Appeal other donations 189,898 271586 475 13,000 190373 172,585 274,312 462,484 13,475 47&959 I￿6,897 Total year to 31 March 2023 418.727 28,170 446,897 26

St Petrocs Notes Iforming part of the financialstatementsj Grants receivable Unrestricted funds Restricted funds Total year Total Year to31 March to31 March 2￿24 2023 Vocational Development Programme 85 249,120 Cornwall Council 852 25,000 Crisis 25,000 Cornwall Community Foundation 54,995 54,144 Nationwide Community Grants 50,000 Department of Levelling Up, Housing and Communtties 131,808 77,657 Cornwall Partnership NHS Foundation Trust 21788 The National Lottery Community Fund 73316 73516 Garfield Weston Foundation 60.000 Other grants I£IO,000 or less) 1,417 29,2ry7 30,624 35,274 1,417 458,217 516,195 Total yearto 31 March 2023 516,195 $16,195 Grant funding was received to support charitable activities across all services during the period. In the previous year, the Vocational Development Programme wa5 80% funded through the European Social Fund and 20% funded through Cornwall Council. Together, this amounted to £249.120. The European Social Fund element was paid through Cornwall Council via the Cornwall Development Company. A further £9,493 was received this year. A150 this year, the programme received funding of £55,779 from the UK Shared Prosperity Fund through the Cornwall and Isles of Scilly People Hub via Cornwall Council, and other grants from the National Grid Community Green Spaces Fund and the Royal Cornwall Hospital NHS CharitiesTogether Community Partnership. This year we received three grants from Cornwall Council totalling £852 from Adult Social Care and the Community Chest programme to purchase items for our Supported Accommodation. In the previousyear, Cornwall Council provided grantfunding of £25,000 through the Cornwall and Isles of Scilly Health and Care Partnership's Suicide Prevention Innovation Fund. This was used in our Freshfield SeNice to help reduce the number of people who self-harm andlor die bysuicide.

St Petrocs Notes Iformingpart ofthe financialstatementsj Grants recelwdble {¢ontinued) Cornwall Partnership NHS Foundation Trust is funding a Mental Health Advocacy Project for two years. £22,788 has been received in this year. Through The National Lottery Community Fund, the Department for Culture, Media and Sport have provided funding of £T3J6 for Crltical Support to people who are homeless in Cornwall. The Department of Levelling Up, Housing and Communities provided two grants totalling £131,808 12023." one grant of £T7,657) towards our Winter Semces programme at Truro Resource Centre and Breadline. Grants from Cornwall Community Foundation included an amount of aO,000 from the NHS Cornwall & 151es of Scilly Integrated Care Board to fund wellbeing sessions for 18-25 year olds who have experienced homelessness and £5,000 which is 5UPPOrted by the Governments Household Support Fund. We received £3,899 from Superfast Cornwall. a partnership funded by the EU, Cornwall Council,the UKgovernment, and BT.Thefunding was used to improve ourdigital solutions allowing us to access improved software resources. We received an Access to Work grant from the Department of Work and Pensior)s of £380 to help an employee with a disability obtain specialist equipment to assist them in their work 5 Other tradlng actlvitles Yearto Yearto 31 March 31 March 2024 2023 Unrestrlcted Unrestricted funds funds Fundraising income Rent Miscellaneous income 10,418 6,800 1,395 39,147 18,613 6 Investrnent income Yearto Yearto 31 March 31 March 2024 2023 Unrestricted Unrestricted nds funds Bank interest receivable 59353 20,044 28

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St Petrocs Notes Iformingpart ofthe financialstatementsj Net income/ (expenditure) for the year Yearto Year to 51 March 2024 31 March 2023 This is stated after charging- Depreciation Operating leases 58,504 0,527 Governance costs include.. Auditors, remuneration- audit Auditors, remuneration- other 8,800 2,238 Staff numbers and costs The average number of persons employed bythe Charityduring the yearwas as follo Yearto Yearto 31 March 2024 31 March 2023 Accommodation Vocational Development Programme Truro Resource Centre- Resettlement & Outreach Breadline- Resettlement Freshfield Service Support Services (finance. administration. engagemenL communications fundraising and management) 21 13 13 16 17 62 The aggregate payroll costs of these person5 were as follows: Yearto Yearto 31 March 2024 31 March 2023 Wages Social securitycosts Pension costs I￿24556 170257 I43.T24 1,817.600 181,866 86,236 ZI38J7 2,08S,702 Included within wages are non-statutorylnon-contractual termination payments totalling £21,28412023: £nill. There was no specific funding received in relation to these payments. For theyear ended 31 March 2024one employee received emoluments of between £70,000 and £80,00012023: one). Total key management personnel remuneration for the year was £347,07312023: £370,9451. No Board member received any emoluments in the period12023: none). The Charity contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. Atthe end oftheyear, outstsnding contributions amounted to £t3,462 (2023.. £nill.

St Petrocs Notes Iforming part of the financialstatements} io Related partytransactions Donations and fundraising activity of Q886 P023.' Q.402} were received from trustees and connected persons during theyear. No expenseswere claimed bytrustees during theyear 12023.. £nill. During the previous year, one member of the senior management team resigned. They were also a trustee of Cornwall Care, one of the Charit￿5 landlords. Rent is payable at market value. The total amount of rent paid during their employment in that year was 4,737. 11 Tangible fixed assets Leasehold Furnlture property Freehold and Improvements propertles fftting5 Office Motor equlpment Vehlc Total l April 2023 Additions Disposals 132,859 5.985 1176,784 148.636 7,830 0,6861 206,941 20,865 14,8711 11394 2,676,614 34,680 16,5571 At 31 March 2024 138,844 1176,784 154,780 221935 11394 2,704,737 l April 2023 Charge for year On disposals 96.019 11920 141367 126.731 12.661 0,6861 144,489 38372 14.8Tr1 7,599 2,849 6,205 66,802 16,5571 At 31 March 2024 108,939 141367 137.706 177,990 10,448 576.450 Net bookvalue At 31 March 2024 29.￿)5 ZO5417 TI,(Y74 44.945 946 1128287 Net book value At 31 March 2023 36,840 1035,417 21,905 61452 3,795 2,160,409 12 Debtors At 31 March 2024 At 31 March 2023 Trade debtors Other debtors Accrued income Prepayments 11394 6,738 1,390 4,871 251,369 155,741 450,1 413J71

St Petrocs Notes [formingpart ofthe financialstatementsj 13 Bank accounts At￿ March At 31 March 2024 2023 Current accounts/overnight deposfc Deposit accounts Other accounts 421,633 1S9&6 3Si 349,209 1,169,452 19,088 i.855h05 1,537,749 14 Creditorx amounts falling due within oneyear At31 March At 31 March 2024 2023 Trade creditors Taxation and social securty Other creditors Accruals and deferred income 102,Tr0 43,842 4,081 283,023 41559 17543 248.744 4ai77 433,656 Deferred Income Balance as at l April 2023 Amount released to income Amount deferred in theyear 119517 198,1291 19,760 11634 Balan￿ as at 31 March 2024 17505 40,948 Deferred income primarily consists of rent and personal charges received in advance. Concessionary loans At31 March At31 March 2024 2023 District Health Authority loans secured on l Alexandra Terrace and 49 St George's Road free of interest and repayable on sale of properties Isee note 201 IOZ056 102.056 Cornwall County Council - loan free of interest secured with a second charge on l Alexandra Terrace 5,000 Carrick District Council loan advanced in November1990 interest free, secured on property and repayable upon sale- 8 Tremayne Road. Truro Isee note 20) 90.000 90,000 Cornwall Countycouncil 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 le55 than one year Falling due after more than oneyear 222,056

St Petrocs Notes Iforming part of the financialstatements} 16 Anabsls of net assets betrween fvnds Current period: Unrestrlcted Restrlcted funds funds Totsl funds Fixed assets Net current assets Creditors falling due after more than oneyear 1.101213 1,856,329 12UOS61 1,027,074 30,564 ZI28287 1,886093 PU0561 2.735,486 1,057,638 3.793,124 Prior period: UnrestrEcted Restrlcted fijnds fijnds Totsl funds Fixed a*ts Net current assets Creditors falling due after morethan oneyear 1.126,798 1.452.018 12a0561 1,033,611 68.754 Zi60h09 I520.Tf2 (2a056) 2356.760 1,102365 459.125 17 Restrlcted fund5 Brought foMard Carried rward Income Expenditure Transfers Currentyear. Cornwall Community Foundation- Crisis Grants Winter Setvices Fund Freshfield Service Fund Vocational Development Programme Fund Client Support Fund Volunteer Recovery Programme Fund Community Organisations Cost of Living Fund Mental Health Advocacy Fund Core Costs Fund Small grants and donations 931 19381 157.283 15.000 58.2331 17,6741 950 7.449 87,251 183,0151 89 46.815 28534 (74.9041 3,894 4339 8,514 18,7211 207 73316 173387) 21788 21 160,0761 [323421 (Y76 76 IZ439 27.520 703 For Future Operatlons 68.754 47T,692 1516.0021 6,120 30564 Truro Resource Centre Building Grant Falmouth Supported House Capital Fund Barncroft Capital Fund Other Caprtal Funds 15230 13,6881 11542 418291 418291 596292 118491 949 Capltal Funds I,033,&1 16,5371 I.OZ7,074 1.102365 4Tr,692 1522,5391 6,120 1.057.638

St Petrocs Notes (formingpart of the financialstatementsj 17 Restrlcted fund5- continued Brought Carried fotward Income Expendit(Jre Transfers foNard Prior period: SmartMove- Bond Fund Cornwall Communty Foundation Crisi5 Grants Winter Services Fund Fre5hfield Service Fund Vocational Development Programme Fund Client Support Fund Prevent and Retain Project Fund Volunteer Recovery Programme Fund Cost of Living Fund Small grants and donations &079 15,0791 362 1500 0,9￿) 97.831 30,000 1983871 131,0981 1250,0651 1232931 P75561 556 1,098 250,120 70,100 25,000 4&815 2,556 io,000 0,4861 5,0161 (39,8101 8,514 Is,000 43.814 16 164 R439 8271 For Future Operations 13,Tr2 544365 1488.6421 16811 68,754 Truro Resource Centre Building Grant Falmouth Supported House Capital Fund Barncroft Capital Fund Other Capital Funds 14.958 (3,4371 3,709 1&230 418,291 418291 596,292 59&292 A798 [2,8501 Capitsl Funds 1.036,189 16,287) 3,709 1.031611 1.049,901 544.365 1494,9291 3,028 1,IOZ365 The purposes of the above funds are as follo For Future Operations Cornwal/CommunityFoundation Cnsis Grants- grants given for client use. Winter Services Fund- donations and grants given towards running emergency services over the winter period, including £131,808fortwo grantsfrom the Department of Levelling Up, Housing and Communities. Freshfieldservice Fund- grants and donations given towards supporting the work of our Freshfield service. Vocational Development Programme Fund- funding given to support individuals to join our employment and skills programme. Ilworks acrossthe organisation and complements the other services we provide. ClientSupportFund- grants and donations given to fund costs of providing support work for clients in our residential and non-residential service&

St Petrocs Notes (forming part of the financialstatements} 17 Re¥crlcted funds- continued Volunteer Recovery Progfamme Fund - funding received Specifical￿ to re-develop our volunteering programme to serve our clients. our organisation and therefore, the wider community in Cornwall following the disruption caused bythe Covid-19 pandemic. Community Organisations Cost of Living Fund- a grant ftom the Department of Culture, Media and Sport delivered through the National Lottery Community Fund to provide critical 5UPPOrt to homeless people through our Truro Resource Centre, Breadline and Freshfield Se￿iCe5. MentalHealthAdvocacyFund- is a grant from Cornwall Partnership NHS Foundation Trust to fund our new Mental Health Advocacy project including a dedicated Mental Health Support Worker linking in with our other services and external agencie& Core Costs Fund-a grant received in order to fijnd core costs of the charity during the year. Smartmove BondFund-to secure bonds issued for the Smartmove scheme. This scheme 15 r)0 longer in operation. Prevent and Retain Projert Fund- funding received to work with clients who are facing homelessness. or who have just been rehoused and are at risk of repeat homelessness. Cost ofliving fund-donations and grants specifically to help mitigate the effects of the cost of living crisis. There are various other small grants and donations given forvarious purposes and income and expenditure is recorded againstthesewhere applicable. Capital Funds The capital funds represent funding received towards fixed assets Depreciation on these assets is allocated to the relevant fund. 18 Unrestricted funds Currentyear. Brought forward Carried forward Income Expenditure Transfers Designatedfunds.. - Maintenance Reserve - Salary Reserve Friends of St Petrocs Future Development Fund - Sewice Development Fund - Information Technology Fund - Operating Commitments Fund - Capital Fund ioo,000 0.000 10,911 414,040 169.6511 169.651 200.000 1,000 1,000 12,7511 7.405 135,960 550,000 7368 18,1231 100.000 lJ,8231 131,823 200.000 D85681 20568 14.000 904.742 69,000 283,000 879,156 158,9871 33.401 1313,693 7368 086,9521 558,4S2 Unrestricted general fund 43,067 761.056 13,196,626) 1564.572} 4Z925 2556,760 3,768,424 13383.5781 16,1201 1735486

St Petrocs Notes Iforming part of the financialstatementsj 18 Unrestrkted funds (continued) Prior period: Brought forward Carried Transfers foward Income Expenditure Designatedfvnds. Maintenènce Reserve - Salary Reserve - Friends of St Petrocs - Future Development Fund - Service Development Fund Information Technology Fund - Operating Commitments Fund Capital Fund 124,000 462,000 10.683 {44,7211 20,721 100.000 48,000 ￿0.0(M) 10,911 414040 7,133 16,9041 (393,9351 807.975 100,000 14,7351 4,735 100.000 {21.5641 28,564 60,000 (37,0001 214000 445,097 904742 1.861 152,2161 2320519 7.133 1524,07SI 510,116 2J3,693 Unrestricted general fund 68.824 3,259,696 R772309} 1513,11fr41 43,067 2J89J43 3266,829 .296584 13,028 235&760 The purposes of the abovefunds are as follo Maintenance Resene-fund for future maintenance. SalaryRe5erve- fund for approximately three months, salaries. FriendsofStPetrocs- funds collected and distributed bythe Friends, groups to help enable residents progress their personal development and provide items for the accommodation in each group's local area. Future Development Fund - fund earmarked for the purchase of new 5UPPOrted accommodation properties partialty derived from major donations and the sale of office premises. Setvice Development Fund - fund to provide for new service developments and also provide contingency funding for schemes where income streams may end before new ones can be obtained. Information TechnolowFund- fund for future IT development. Operating Commitments Fund - to promde for approximately 3-6 months, contracted commitmen CapitalFund- this representsthe fixed assets financed by the Charitywhich by their nature are not available tofund dayto dayoperating expen

St Petrocs Notes [forming part of the financialstatementsj 19 Financial commltments Total future commitments under non-cancellable operating leases are as follo Wlthin One to Two to 0￿r five one year two years five years Total Land and buildings Other 85(X) Th3r2 MS730 ￿666 59Z268 17329 IZ295 3Z492 Total year to ￿ March 2024 429 121667 T17998 4&666 S24,760 Within oneyear One to Two to two years five years Over five years Total Land and buildings Other 305.895 13,007 91300 10,412 16,000 9556 413,195 32.975 Total year to31 March 2023 318,902 101,Tr2 25.556 446,170 There were capttal commitments at the year end of Q75212023: £nill. 20 Contingent liabilities Two of the loanstothe Charity (see notelS1 include clausesthatthe amounts repayablewill be in proportion to the market value of the properties towhich the loans relate on the date that the properties are 501d. No additional liability will arise until such a date that the property is sold. Audrtors, liablllty IlmEtatlon agreement For the year ended 31 March 2024, the charity entered into a liability limitation agreement with its auditors, the principal terms of which limit the liability of the auditors to £4,500,000 in relation to their responsibilities as auditors of the charity. The date this was agreed by the charity was 26 September 2024.