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¢¢ommod*t• 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•gr*mm
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.