St Petrocs Annual report and financial statements For the year ended 31 March 2025 Registered Charity Number 1187077 Registered Company Number12320784 St Petrocs Contents Page Trustees, annual report Independent auditors, report 18-21 Statement of financial activities 22 Balance sheet 23 statement of cash flows 24 Notes to the statement ofcash flows 25 Notes to the financial statements 26-41 St Petrocs Trustees, annual report For theyearended31 March 2025 The Trustees present their annual report and the audited financial statementsfor the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on pages 26to 28and complywith the CompaniesAct 2006 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 Flepublic of Ireland IFRS 1021 (effective l January 20191- Purpose and activities Charltable wrFXW- Our Mlssion Staternont Our ambition is to end homelessness in Cornwall. We believe everybody has the right to be treated with dignity. We believe that everybody has the right to a place to call home. Making sure everyone has somewhere safe to be, benefits us all. We havefailed as a society when some of us are struggling. That is why our ambition is to end homelessness in Cornwall. Charitable wrpose- Our Objects The charity's objects are. for the public benefit. the provision of housing, social housing, accommodation and assistance in housing individual& and the provision of associated facilities. services and amenities for the care and support lincluding but not limited to health care and related advice and educational, occupational and vcKational advice and training) of people in need by reason of financial hardship or for any other reason. Our hlstory and purpose St Petrocs was established as a direct response to people sleeping rough in Truro. It was set up to offer supportto those who have nowhere elseto go and actsas the last lineofdefence against someone having to experience rough sleeping. We are an independent, charitable organisation that provides people in need wfch somewhere and 9)meone to turn to. We believe that access to shelter is a human right, 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 ambttion and build a fairer society for all. The pressure ofpovertyisveryreal for manypeople in Cornwall. High living costsand low incomes trap people in precarious situations, 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 place to stay, isolated and dependent on the gwdwill of others and sometimes with no option but to sleep rough. Everybody deserves the right to be treated wtth dignity, no matter what their circumstances, background, or identity. We strive to support anyone who may need our seNice& recognisirig that what is good for one of us is good for us all; every person deserves the chance to build a life and thrive. st Petrocs has been providing services to people in need in Cornwall for nearly four decades. Our goal is to provide the support and opportunities required for our clients tofind a permanent route out of homelessne55. The organisatiorj has become an authoritative voice on the issue of homelessnes& As a result St Petrocs is not only providing much-needed services 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 rheyear ended31 March 2025 Intended Impa¢ alms and h¢￿V we achierfe them There arefour elementsto howwecan achieveourambition of ending homelessness in Cornwall, some of which we can directly contribute towards, 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 stay. We collaborate with national bodies, who share our values. to call for changes to policyto address the needs of those who are at risk of homelessness. We recognise that the availability of good quality. genuinely affordable housing represents a significant factor in the prevention of homelessness We support effortsto increase the number of new houses being built. to bring back unused properties into use and to prioritise local houses for local communities. Preventlng homeles%ns thlsyear. We helped prevent 253 people from sleeping rough. Our work In actlon". Dave was only 18 years old when his family received notice that they were going to lose their home. Unsure of where to turn. Dave found support after discovering St Petrocs online. Dave said. Yhey were really friendly, I got a phone call and then I went to the resource centreto be interviewed by a member oftheteam. Then, the next week I got in. It was so quick". Thanks to the support of St Petroc4 Dave was able to reconnect with education and found his first job whilst living in our accommodation, and he now has moved into his own home. 2. Making homelessness an ex￿ptIon We will not accept homelessness as an inevitability. Homelessness is avoidable. However, where peoplefind themselvespushed into homelessnesswedrawon theirexperienceto identifywhere earlier intervention may have prevented their situation deteriorating. We seek to Use data and evidence to inform our decision making and to shape the services we deliver. In a minority ofcases, individuals sometimes do not wish to engage with support services, for variety of reason& We strive to make sure that this is an exception. We k￿P our door open to everyone so that there is alwayssomewhere and someonetoturn to when they are ready. Maklng homeles5nessan exception thlsyear. We have helped 1,446 people in the last year across all our service& OurV￿rk in actiork Matt was sleeping in a tent for a long time, when one day he found a hole in his boot. Matt realised he needed some help, but he also wanted to find a place to receive letters to get his life back on track. He visited our resource centre to see if he could use some superglue to repair his shoe. While there. one of our team asked Matt to sit with him for a moment. An hour later. they foLtnd themselves talking about finding him a place to Iwe. Five days later. Matt moved into our supported accommodation. 3. Making the experience of homelessness short We use our resourcesto act quicklyto end homelessnes& Through our Outreach and Homeless Support SeNices, we engagewith peoplewho are experiencing homelessness and obtain secure accommodation for them where available and work with the relevant agencies to ensure permanent solutions are found and adequate support is provided. We ensure that people get access to the support which is their basic human right St Petrocs Trustees, annual report For rheyear ended31 March 2025 Intended impacL aims and we achie￿thern Icontlnued) We currently operate our own accommodation for 166 residents. all in single bedrooms, with a number having en-suite facilities. We continue to increase the capacity of our supported accommodation seNice so that we can respond quicklyto provide accommodation whenever it is needed. Making the experien￿ of homelessness short this We have been able to provide emergency accommodation through our Winter SeNices for 107 people who would otherwise have faced sleeping outside. We were able to provide positive housing outcomes for 83 of the people accessing this *rvice. Our ￿￿rk In actlon: When winter arrived. Jason received the shocking news that his seasonal job, which came with accommodation, was ending. After 10 days in his car with his dog, a cold snap and a kind stranger led lason to a community centre, where he met our outreach worker. We arranged an interview for our housing and secured him a room in our sUPPOrted accommodation a few hour5 later. 4. Supporting people out of homelessness for good Evidence showsthat for many people eX￿rIencing 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 team of staff and volunteers develop relationships with our clients to build SUPFJOrt plans with them to meet their needs. We encourage people to take ownership oftheir optionsand choices ratherthan assume we know what is bestfor them. Our residential services offer accommodation with dedicated support to provide a foundation upon which individuals can stabilise their lives and build towards independent living. Where required. we have specialist skills in supporting people experiencing addiction. Supwrung people out of homelessness for good year. We were able to support 125 people through our employment and skills programme with 25 people supported into work. Ourwork In actlon: Casey moved into our SUPFX)rted accommodation after her private rental became a holiday let. Casey has struggled with health issues throughout her time at st Petrocs but has found a passion for training in counselling and has moved out into her own place to call home. Casey shared."St Petrocs have turned my life around... They've taught meto be me again and I will get backto where I was before everything that happened". Ourvalues We believe that our organisational values of honesty. integrity, equality and dignity embody how we chooseto operate as an independent charity. We believe that these organisational values play an important role in promoting a healthy workplace culture. Ourvalues provide a framework for all staff and volunteers to be empowered to make decisions which are in line with how we chooseto operate. Our values allow us ta test our decisions and challenge each other constructively so that we can work to achieve our ambition in a positwe way. We are committed to maintaining our values throughout the organisation. St Petrocs Trustees, annual report For theyear ended31 March 2025 Our value5 Icontinuedl 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 hafassment. unfair and LJnlawFul discrimination where everyone is treated fairly. Equity. as part of this, means recognising that some individuals face more barriers to 3cce55ing our services than others. St Petrocs recognises its responsibilities to the environment and to the local community. We are committed to comply with all relevant environmental legislation as a min imum performance, and to continu311y improve environmental performance through appropriate initiatives. control5, provisiorn of resources and training of employees. The aim Is to minim ise adverse impacts on the environment of activities and seNices within the context St Petrocs operates. Publlc beneflt 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 activities. Achievements and perf0rrnan￿ (forming part of the strategic report) Have we met our objectives? Hom•l•Ssn￿s was •nd•d f•r 1,446 253 5371 prev•nt•d fr•m people. Our non-tesidential team supported 125 317 41ffl 3.988 1863 support through o p•opl* liv•d ITr a Isio orti¥¥ ¥¥lib O sl(Jlls progrnmm c•ntr• I •nii• Ir+ ¢*•m 25 347 166 volunt••rs support•d our Wofk t• end h0m•knsn￿*. St Petrocs Trustees, annual report For rheyear ended31 March 2025 Have we met our objectrves? Icontinuedl Sadly, the demand for St Petrocs, service5 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 not matched by increasing income, and a squeeze on the availability of genuinely affordable properties for local communities. All of this has led to increased rates of homelessness. Official figures shovi that levels of rough sleeping nationally. and in Cornwall. have increased dramatically in the last few years. During the year we have worked with a total of1.446 people. 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. Homeless support serv1ces are available as drop-in sessions., appointments are made for assessments and other in-depth work. Food and clothes are available, as well as laundry and shower facilities. Other activities. run by volunteers. Include art and IT sessions. coffee corner and food clubs. Both of our resource centres have undergone improvements this year improving the functionality and aesthetics of the environment for those using our services. A kitchen was installed for the first time at the Truro resource centre, which has allowed people without a home kitchen of their own to prepare food, and has brought new opportunities for our volunteer-led groups by bringing people together through making and serving food The Resource Centre in Truro had 4,161 visits during the year and Penzance 3,988. Our Outreach team engage with people who are sleeping rough or at risk of losing their tenancy, to draw them into our homeless support services, 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 ancl other agency drop-ln centres across Cornwall so that our services and advice can be delivered within existing community networks. Our Outreach team engaged with those who are street homeless across the county on 2.863 occasions. Our Winter Services provide emergency accommodation to people experiencing homelessness during the coldest months of the year. Our winter services are delivered in a dispersed manner to accommodate people who would otherwise be sleepirng outside. Utilising hotels and guest house5 spread acr055 the county to keep people safely indoors and close to their local network of support. 107 Individuals were accommodated for an aggregate of 3,174 individual stays over 158 nights. 91Qh of ind ividuals did not return to rough sleeping. We were. again. able to provide emergency accommodation in the Penzance area with thanks to the Ministry of Housing, Communities & Loc31 Government who awarded us a two-year grant to deliver this specific place- based work due to the significant deir ]- 538 3,174 107 p•oplo $upport4d through our Winter Sèrvices. ol th• peopl• w• Jupport•d •ec•ss•d our •mw9•n¢y nlghts ol a¢commod•tlon provid•i (2SG99} [34.6801 Net movement of funds wailable for fLrture 730 74.T19 299,319 St Petrocs Balance sheet As at37 March 2025 At31 March 2025 At 31 March 2024 Ftxed assets Tangible assets 72 1i0i,433 2.128,287 Current assets Debtors Cash at bank and in hand 13 74 419,628 IP97593 450,171 1.858,899 1417221 2509,070 Credltors amounts falllng due within one year 15 {404266) 1422,IT71 Net current assets ZOiZ95S 1,886.893 Total assets less current liab]Iltles 4.114J88 4,015,180 Creditors amounts falling due after more than one year 16 1222,0561 17 3.891332 3,793,124 Funds of the char riestricted ftjnds Unrestricted funds Designated funds General fund 18 19 1.i295Z7 1.057.638 Z7￿￿1 24 2,692.5 42,925 1761805 1735.486 Totsl tharityfijnds 17 3,793,124 The financial statements have been prepared in accordance with the special provisions of Part 15 ofthe CompaniesAct 2006 relating to small companies and constitute the financia5 statements required bythe Companies Act 2006 and are for circulation to members ofthe company. l °q,,c￿v d°0 by. M Ricardo Trustee Company registration number12320784 St Petrocs Statement of cash flows For theyear ended31 March 2025 Yearto 31 March 2025 Year to 31 March 2024 Cash fltm from operating activities Net cash provided by operating activities 293,169 Cash flows from inNesting activities Investment income re￿iVed Fixed asset addition5 7&T16 (2&0891 59,353 134,6801 Net cash provided by investing activities 24.673 Change In and cash equtvdlents in the reporting year 317,842 Cash and cash equivalents at the start ofthe reporting year 1,541,057 Cash and cash equThralents at the end ofthe reporting year 1,858,899 24 St Petrocs Notes to the statement of cash flows For theyear ended37 March 2025 Reeonclllatlon of net Income to net cash prtrrfkled by operating activities Yearto 31 March 2025 Yearto 31 March 2024 Net income forthe reporting year las per the statement of financial actniitiesl Adjusted for Depreciation Investment income Decrease / lincreasel in debtors IDecreasel in creditors within one year 333,999 $1,943 f757761 30543 66,802 159,3531 136.8001 Ul,4791 Nettssh provided opernting acr1vi￿£S 293.169 Ana￿LS of cash and cash equivalents At￿ March At 31 March 2025 2024 Cash at bank and in hand i￿?33 1,858,899 Total cash and cash equfvalents 1,858,899 St Petrocs Notes Iforming part of the f /nancialstatements} The company is limited byguarantee and does not have a share capital. In the eventofthe company being wound up each member 15 liable to contribute a sum not exceeding £1. There were16 members at 31 March 202512024: 161. Accountingwllcles The following accounting policies have been adopted in dealing with items which are considered material in relation to the preparation of the CoMpan￿S financial statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFf4S 1021 (effective l January 20191 (Charities SORP IFRSO0211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and the Companies Act 2006. St Petrocs meetsthe definition of a public benefit entity under FF2S102. Assets and liabilities are initially recognised at historical c05t or transaction value unless othewise 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 chaflty has adequate resources to continue in operational existence for the foreseeable future. The trustees have reviewed the current financial p051tion together with budgets and cash flowforecasts and consider that the charity has sufficient resources to continue tLs activtties for at least 12 months from the date of approval and signing of these financial statements. As a resul( the trustees consider it to be appropriate that these financial statements are prepared in accordance with the going concern basis. 23 Incomingresources Incoming resource5 including grants recewable are accounted for in the year in which the Charity is entitled to receipL ent and personal charges are recognised in the financial statements when certainty of receipt can be reasonably expected. Depreciation on capf(al grant funded assets is charged against the relevant restricted or designated funds. No amount is included in thefinancial statementsforvolunt￿rstIrne in linewith the SORP IFFIS 1021. 2.4 Bequestsandlegacies A legacy or bequest is recognised in the financial statements when the certainty of receipt and the amount re￿1vable has been established. 2.5 Donations Donations are recognised in the financial statements when they are receivable. Donated assets are capitalised at a value equtvalent to market value at the date of donation. 26 St Petrocs Notes [formingpart of the financia/statementsJ Expenditure 15 included on an accruals basis. The irrecoverable element of VAT is included within the item of expense to which it relate Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Other costs which are attributable to more than one activity, are apportioned acr055 Cost categories on the basis of an estimated usage of each service provided. 2.7 Tanglble ￿Yeda5¥ets Tangible fixed assets are stated 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 Liseful life of the asset and its residual value. The rates and bases of depreciation applicableto each class of asset are as follows.. Freehold property Leasehold property Furniture and fittings Office equipment Motor vehicles Cfver the term of the lease 33113% straight line 33,1,% straight line 25% straight line 2.8 Debtorsandcredito Debtor5 receivable and creditors payable within one year or after more than one year are recorded at trarisaction price. 2.9 LoansandtsrnI￿ngs Loans and borrowings are initially recognised at thetransaction price including transaction Cosfs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment If an arrangement constitutes a finance transaction, it 15 measured at present value. 2.10 concessio￿￿￿￿AS 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 only Conce￿I0nary1o3ns in the accountsare interest free and secured on properties held by the charity15ee note 16 for further details). 2.11 Unresti7ctedandd*natedfiinds These funds have been made available to the Charity without specific condition& The use of unrestricted funds is entirely at the discretion of the trustee& Designated funds are unrestricted funds earmarked ty the trustees for particular purpose& 112 Restncr8dfun< These funds are made available to the Charity with spectfic conditions imposed by the donors as to the nature of their use. St Petrocs Notes Iforming part of the f Inancialstatementsj 2.13 Tran5fw5 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 sch£Klule 3 ofthe Charities Act 2011 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 charrtable company for UK corporation tax purposes 2.15 Emplo)Eebeneffts Wherb employees have rendered service to the Charity, short-term employee benefits to which the employees are entitl￿ are recognised at the undiscounted amount expected to be paid in exchange for 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 Operatlng leases Rental charges are charged in the slatement of financial artivities on a straight line basis over the life of the lease. 2.17 JudgenwitsandkeyAyur¢esofescln7ation uncertainty In the application of the CoMpan￿S accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eSt￿MateS and associated assumptions are based on historical experience and other factors 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 provtded as the trustees 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. Revisions to accounting estimates are ¥ecognised in the year in which the estimate is revised where the revision affects only that year. or in the year of the revision and future years where the revision affects both current and future years. 28 St Petrocs Notes (formingpart of the financia15tatementsJ Donatlons arKI legacies Unrestricted funds Restricted funds Yearto 3] March 2025 Year to 31 March 2024 Donation Winter Appeal Other donations 194,498 2425n 194.498 254,041 190,373 285586 11,470 437,069 725.000 11.470 448539 125,0 475.969 25,544 Legacies 561069 11.470 501,503 Totsl yearto31 March 2024 488,028 13.475 501,503 Grants receivdble Unrestricted Restricted funds funds Total year Total Year to31 March to31 March 2¢725 2024 Vocational Development Programme 258373 85,251 Ministry of Housing. Communities & Local Government 131.808 131,808 131,808 Cornwall Council 34,294 852 Cornwall Partnership NHS Foundation Trust 44,822 21788 Cornwall Community Foundation 51308 54,995 The National Lottery Community Fund 73,316 Garfield Weston Foundation 75.000 B&Q Foundation io,000 io,000 National Grid- Community Matters Fund 10,000 Other grar)ts Ibelow ￿0,000) 3378 43,084 41362 20,624 3.278 648,689 459,634 Total yearto 31 March 2024 1.417 458,217 459,634 St Petrocs Notes [formingpart of the financialstatements) Grants recelvable {contlnued) Grant funding was received to support charitable activities across all services during the year. Within thefiguresabove, thefollowing grantswere received from public fund& The Vocational Development Programme received funding of £238,416 12024.. £55.7791 from the UK Shared Prosperty Fund through the Cornwall and the Isles of Scilly People Hub via Cornwall Council. The ftoyal Cornwall Hospital NHS Charities Together Community Partnetshipalso provided fundingtothe programmeof £19,957 12024: £9.9791. In 2024, £9,493 was also funded through the European Social Fund as well as other grant making bodies. The Ministryof Housing, Communities & Local Government Iformerlythe Department of Levelling Up, Housing and Communities) promded two grants through the Night Shelter Transformation Fund totalling ￿37,808 12024.. £131,8081 towards our Winter Services programme at Truro Resour￿ Centre and Breadline. This year we received seven grants from Cornwall Council totslling £34,294. This included 08,742 in respect of costs incurred in becoming a flegistered Provider for Social Housing. £13.516 through the Active Travel and Social Prescribing fund supported by Active Travel England, the Department for Transport and Healthy Cornwall to encourage travelling by active means and reducing barriers individuals face to travel actively, as well as a number ofsmaller grants through the Community Chest programme to help purchase items for our Supported Accommodation12024.' £8521. Cornwall Partnership NHS Foundation Trust provided funding of £44,822 12024: £22,788) for our Mental Health Advocacy PTojecL An amount of £24,984 12024". QO.O(M)I was paid through Cornwall Community Foundation from the People in Mind Communty Wellbeing Fund which is Jointly fijnded by NHS Cornwall and Isles of Sci1￿ Integrated Care Board and Public He8￿h. Last year. £5.(K)O was received through the Foundation and supported by the Government's Household Support Fund. Through The National Lottery Community Fund. the Department for Culture, Media and SFX)rt provided funding of £73316 in the previous year for critical SUPFKirt to people who are homeless in Cornwall. An amount of ￿,899 was received in 2024 from Superfast Cornwall. a partnership funded bythe EU,Cornwall council.the UK governmentand 8Tto improveour digital solutions and providing improved software resource& An Access to Work grant from the Department of Work and Pensions was received in the previous year to help an employee with a disabilty obtain specialist equipment to assist them in their work st Petrocs Notes Iforming part of the financia/statementsJ Rent and personal charges Yearto Yearto 31 Mar¢h 2025 31 March 2024 Unre51rlcted Unrestricted nds funds Housing benefrt Personal charges Other client rent 3.107.691 i8&739 16.077 1994,681 178.877 6,921 3.180,479 Other tradlng actlv5ties Yearto Yearto March 2025 31 March 2024 Unre*ri¢ted Unrestricted funds funds Fundraising income Rent 792 32,534 6,000 613 Miscellaneous income 616 39.147 Investrnent Income Yearto Yearto 31 March 2025 31 March 2024 Unrestricted Unrestricted fund5 fund5 Bank interesi receivable 75.T76 59J53 spunj paJ)iJ)saJun èJnJipuadx3 W ieioityco spun4 pap¥j￿Jun Jn¥wattx3 Itwi swna pèplj￿jUn spung papu]s8Jun spuna p8pyJsaJun swnj ￿L$l*j spun4 paJJvwJun Iq￿JE[￿ ?IAJaS PlaUUSèJJ SèJIAJèS Jalulm 0) Lrt wawaiuèsèa - auiippaJ8 u)eèJ]no ? Juèwèi)iasg aJ}ua) a)Jn(￿￿ ojnji (D tr- N O tfj Ln pry èwwEJ6oJrJ iuawdoiwa IEuoI]eJoA uoIIEpouJuJI))w ) 0) tn spun pij aJni!puèdx3 t iy o Ipjoi szoz ¥yJnJ papiJ)satJ JmlFxJkn3 IEJOL spun J*J2Sè IAJaS spun pap1J￿ swna su￿le 5PLSn4 pWIJ￿1j IWAP)V qpjvvu) rojd Jayio Ajas piaJ4saJ IAJèS Jaiuim 00 iu?uJaliJ￿ UIIPEOJ8 4)eèJino ? iuawalJJ￿ - aj Jua) èjjnosè P) (O ojnj aWLueJ6oJd ieuoiiE)oA uoIIEp -owwoJ?v (LQ > (r ct ct J ￿_ St Petrocs Notes Iformingpart of the financialstatementsj Net Income for tho Yearto Year to 31 March 2025 31 March 2024 Thisls stated after charging= Depreciation Operating leases 66,802 51A,314 576,015 Governance costs include.. Auditors, remuneration- audit Auditors. remuneration- other 7.800 3,855 10 staff nurnbers and ccLsts The average number of persons employed by the Charity during the year was as follows: Yearto Yearto 31 March 2ry25 31 March 2024 Accommodatior) Vocational Development Programme Homeless Support Services - Truro Resource Centre and Outreach Homeless Support Services - Breadline Freshfield Se￿[Ce Support Services (finance, administration, engagement, communications. fundraising and management) 13 16 16 The aggregate payroll costs of these persons were as follo Yearto Yearto 31 Marth 21Y25 31 March 2024 Wages Social securf(y costs Pension costs 1025756 198.773 150.666 1.824.336 170,257 143,724 73.195 2,138,317 There are no non-statutorylnon-contractual termination payments included within wages for the year12024.' £212841. No specific funding was recewed in relation to these payments. For theyear ended ￿ March 2025. one employee received emoluments of between flQ,000 and £80,00012024: one). Total key management personnel remuneration for theyearwas £40I,29212024: £347.0731. No Board member received any emoluments in the period12024.' nonel. 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. At the end of the year, there were no outstanding contributions12024'. ￿3,4621. St Petrocs Notes (forming part of the financia/st3tementsJ Related patytransactions Donations and fundraising income of£2.46812024- £2.8861 were received from trustees and connected persons during the year. No conditions were attached to these donations. No expenses were claimed by trustees during the year12024.' £nill. 12 Tangible fixed assets Fumiture and Motor lrnproNwnents prop8rtles ffttFngs equlpment Vehlc Totsl C(Ist l April 2024 Additions Disposals 138,844 6500 1176.784 154,780 222.935 18.589 00,8131 11,394 2,704,737 25,089 128.0921 07.2791 At 31 March 2025 145344 2.176,784 137,501 230,711 11,394 2,701,734 Depreclatlon l April 2024 Charge for year On disposals 108,939 12,490 141367 137.706 9,239 72791 177,990 29,268 0,8131 10,448 946 576.450 51,943 128,0921 At 31 March 2025 121,429 141367 129.666 196,445 IlJ94 600,301 Net bxikvalue At 31 March 21Y25 21915 10344ri 7.835 34266 ZiOi.433 Net bookvalue At 31 March 2024 29.905 2,035,417 17.074 44,945 946 2,128.287 13 Debtors At 31 March 2(Y25 At 31 March 2024 Trade debtors Other debtors Accrued income Prepayments 11,394 6.738 263,488 168,551 llm6 226264 450,171 St Petrocs Notes Iforming part of the financialstatementsj 14 Bank accounts At 31 March At 31 March 2024 Current accountslovernight deposit DeFX)Sit accounts Other accounts 356215 1,608.493 421,633 1,398,601 35,171 Cash at bank Cash in hand 1.855,405 3,494 1,858,899 15 c1￿1t0r% amountsfalllng duè vlfthln one >par At 31 March 2025 At 31 March 2024 Trade creditors Taxation and sxial securty Other creditors Accruals and deferred income 12S040 114331 41,559 17.543 248.744 22Qi72 421177 Deferred Income Balance as at l April 2024 Amount released to income Amountdeferred in theyear 17505 (17,452} 40,948 136,0771 12,634 Balance as at 31 March 2025 17,50 Deferred income consists of ren￿ fundraising and grants recewed in advan￿. 16 Concesslonary loans At31 March At31 March 2￿25 2024 District He3￿h Authority loans secured on l Alexandra Terrace and 49 St George's Road free of Intere￿ and repayable on sale of properties (see notè 211 Cornwall County Council - loan free of interest secured wfth a second charge on l Alexandra Terrace Carrick District Council loan advanced in November 1990 interest free, secured on property and repayable upon sale - 8 Tremayne Road. Truro (see note 211 102,056 5,000 90,000 Cornwall County Council mortgage advanced in 1990 free of interest secured wth a second charge on 49 St George's Road 25,000 222,056 Falling due in less than one year Falling due after more than oneyear 222,056 St Petrocs Notes Iformingpart of the financialstatementsj 17 Ana￿15 of net assets tetsveen ftinds Current perio(t Totsl funds funds fund5 Fixed assets Net current assets Creditors falling due after more than one year 1.073243 1,911.618 1222.0561 1,028,190 101337 1iffi,433 1011955 12UOS6) 1762,805 1,129,527 Prlor perlod: Unrestrfcted Restricted fijnds funds Total funds Fixed assets Net current a￿et$ Creditors falling due after more than one year 1,101.213 1,856329 1222,0561 1,027,074 1128287 30,564 1,886,893 (2UOS61 1735,486 1,057.638 3.793,124 18 Restricted fijnds Brought fonNard Carrled forward Income Expenditure Transfers Current ypar. Cornwall Community Foundation - Crisis Grants Winter SeNiceg Fund Freshfield Setvice Fund Vo¢ètional Development Programme Fund Client Support FLJnd Mental Health Advcracy Fund Regr￿ered Provider Fund Core Costs Fund Z5CKS 115041 i62.i08 24.984 9,115 384 7.449 DS.1501 17,6S7 4380 258373 P61.0751 149,4911 147,7281 118,7421 16,7431 P5,2151 I,ff78 4339 076 50.413 44.822 18.742 75.0(X) 16.717 1,090 3.960 6J51 7.130 Small grants and donations 8320 432 For Future Operatlon5 Truro Resource Centre Building Grant Falmouth Supported House Capital Fund Barncroft Capital Fund Other Capital Funds 30.564 653,659 1597,8Tr1 14.985 i￿5 11.542 14,4351 418,291 418291 S96292 949 19461 131 Capttsl Funds I,QZ7,074 15,3811 131 l.02qlX) 1,057,638 660,159 1603.2521 14,982 1.129 St Petrocs Notes Iformingpart of the financia/statementsJ 18 Restricted funds Icontlnued) Brought Carried forward Income Expenditure Transfers forward Prior pgriod: Cornwall Communtty Foundation Crisis Grants Winter Services Fund Freshfield SeNice Fund Vocational Development Programme Fund Client Support Fund Mental Health Adv(Kacy Fund Core Costs Fund Volunteer Recovery Programme Fund Community Organisations Cost of Living Fund Small grants and donations 931 19381 157283 15,000 n58,2331 17.6741 950 123 87 183,0151 4380 46.815 28534 21788 60.000 4,9041 06,7121 160,0761 3,894 4339 fiIY76 76 8514 18.f211 207 73J16 (73387) 1313421 11439 Z7520 703 8320 For Future Operatlons 68,754 4W.692 1516,0021 6.120 30564 Truro Fiesource Centre Building Grant Falmouth Supported House Capital Fund 8arncroft Capital Fund Other Capital Funds 15230 (3,6881 11542 418291 418291 596,292 3.798 138491 Capltal Funds 1,033.611 16,537) I,OZ/.ry74 1,102365 4Tr,692 15215391 6,120 1,057,638 The purposes of the above funds are as follows For Future Operatior Cornwall CommunityFoundation Crisis Grants- grants given for client use. Winter SemGes Fund- donations and grants given towards running emergency services over the winter period. including fl￿,808 for two grants from the Ministry of Housing, Communities & Local Governmentl- Freshfieldservice Fund- grants and donation5 given to support the work of our Freshfield service. VocationalDevelopmenr Programme Fund- funding given to SUPFX)rt individuals to join OUT employment and skills programme. It works across the organisation and complementsthe other seNices we provide. In addition to covering direct programme Cosis, the grants also support a range of back-office activities related to the programme. including organising and promoting events. as well as financial tasks such as grant tracking and related reporting. St Petrocs Notes (forming part of the financialstatementsj 18 Restricted fund5 (continued) Clientsupport Fund- grants and donations given to fund costs of providing support work for clients in our residential and non-residential seNices. MentalHealthAdvocacyFund- is a grant from Cornwall Partnership NHS Foundation Trust to fund our Mental Health Advocacy project including a dedicated Mental Health Support Worker linking in with our other services and external agencie& Registered Provider Fund- funding for costs incurred regarding our change to Registered Provider status as agreed by Cornwall Council. Core CostsFund- grant awarded in February 2025 towards the running costs ofthe Charity for the next year. Volunreer Recovery Programme Fund - funding received specifically to redevelop our volunteering programme to serve our clients. our organisation and, therefore, the wider community in Cornwall following the disiuption caused bythe CoMd-19 pandemic. Community Organisations Cost of Living Fund- a grant from the Department of Culture, Media and Sport delivered through the National Lottery Community Fund to provide critical support to homeless people through our Truro Resource Centre, Breadline and Freshfield 5ervice5. There are other small grants and donations given for various purF)05es and income and expenditure is recorded against these where applicable. Capltal Funds The capital funds represent funding received towards fixed assets. Depreciation on these assets is allocated to the relevant fund. 19 Unrestricted funds Currentyear. Brought forward Carrled forward Income Expendfcure Transfers Designated fund - Maintenance Reserve - Salary Reserve Friends of St Petrocs Future Development Fund - SeNice Development Fund Information Technology Fund - Operating Commitments Fund Capital Fund 200,000 1.000 7.405 028.5871 128,587 2ix),000 53,000 $64,000 1,138 &763 4288 14,0691 200,(X)O 012.4081 112.408 200.000 62,000 (15.8381 5.838 000 283,000 29.000 1000 146,5581 851,187 4288 1307.4591 348.560 Z737,950 3.968,750 (3,6232781 1363.5421 24055 3.9￿,038 3.930,737 14,982 879,156 18,589 169Z56I Unrestricted general fund 41925 2.735,486 a7Q805 St Petrocs Notes Iformingpart of the financialstatementsj 19 Unrestrfcted fund5 (continued) Prlor period. Brought fO￿ard Carrled foThvard Income Expendsture Transfers Designated fijnds. Maintenance Reserve - Salary ReseNe Friends of St Petrocs Future Development Fund Service Development Fund Information Technology Fund - Operating Commitments Fund Capital Fund ioo,i)00 0.000 10.911 169.6511 169.651 200.000 1,000 1.000 12.7511 7,405 135.960 550,000 7368 18,1231 414,040 100,000 131.8231 131.823 200,000 60,CrfJO 08,3681 20368 61000 214,000 69,000 283,000 904,742 158.9871 33.401 s￿,756 2J3,693 7368 86,9521 558,452 169Z561 Unrestricted general fund 43,067 3,761,056 13.196.6261 1564.5721 41925 2,356,760 3,768,424 13.383,578 6,120 1735,486 The purposes of the above funds are as follows Maintenance Resene-fund for future maintenance and refurbishment of our properties. SalaryReserve- fund for approximately three months. salarie& Friendsofstpetrocs-fundscollected and distributed bythe Friends, groupsto helpenable residents to prog¥ess 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 supported accommodation properties partially derived from major donations and the sale of office premise& Service Development Fund - fund to provide for new seNice developments and also provide contingency funding for schemes where income streams may end before new onescan be obtained. Information TechnologyFund- fund for future IT development Operating Commirments Fund - to provide for approximately 3-6 month5, contracted commitments. CapitalFund- this represents the fixed assets financed by the Charity which by their nature are not availabletofund day to day operating expense& St Petrocs Notes (forming part of the f In3ncialstatementsJ 20 Financial commltments Total future commitments under non-cancellable operating leases are a5 follows.. Within Oneto Tr￿t0 CNerfwe one Total years years Land and buildings other 399JS 22fi0￿ 37QU79 61.168 l.OS1475 15.829 Total year to 31 March 2025 41zsn 2rJ,050 3T7,409 .168 i.ry78J04 Within one One to two years Two to five years Over five years Total year Land and buildings Other 318,500 17,929 111372 11295 115.730 46,666 2268 592,268 32,492 Total yeartoSI Maich 2024 336.429 123.667 117,998 46,666 624,760 There were no capital commltments at the year end P024.' £2.7521. 21 Contlngent liabllitie5 Two of the loans to the Charity (see note 161 include clauses that the amounts repayable will be in proportion to the market value of the properties to which the loans relate on the date that the properties are sold. No additional liabilttywill arise until such a date that the propety is sold. 22 Events after the end of the reporting period Following the year end the Charity was awarded a grant from the Duke of Cornwall's Charitable Foundation. to enable the charity to build property in the Nansledan estate. This property will be owned by the Duchy of Cornwall, but a 60-year lease will be granted to St Petrocs for the use of the property for their charitable purpose, for the rent of a F)er annu m. Construction on the project commenced in July 2025. The total expected cost of the project and corresponding grant income is Q.25 million. 23 Auditor￿ liabllty limitstion agreement For the year ended 31 March 2025. the charity entered into a liabiltty limitation agreement with its auditors, the principal terms of which limit the liability of the auditors to £5million in relation to their responsibilities as auditors of the charity. The date this was agreed by the chartiy was 25th June 2025. 41