REGISTERED COMPANY NUMBER: CE021289 (England and Wales) REGISTERED CHARITY NUMBER: 1188757
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
RENOVA TRUST
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
RENOVA TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 18 |
RENOVA TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year to 31 March 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Renova is a charitable organisation that aims to provide a holistic, long-term solution to the needs of people who are homeless or at risk of homelessness in Berkshire and other parts of the South of England to help them become self-sufficient, contributing members of the community.
We do so by providing support and accommodation to those who have previously been homeless or at risk of homelessness so they can address their difficulties to enable them to achieve a liveable wage and sustain housing.
Our beneficiaries are from Bracknell, Slough, Wokingham, Reading, Oxford, London, Wolverhampton, and Dorset. They come to us through our partnership with Bracknell Borough's Rough Sleepers' Team, the HM Prison & Probation Service and their partner - Ingeus, Wokingham Council and through collaboration with their partner organisations the Police, the Night Shelters, Mental Health Teams, Hope Drug and Alcohol Service, Churches, the CAB and the Job Centre. We also receive referrals from Yeldall Manor Rehabilitation Centre. In addition, this year, we have had some people self-refer as the charity becomes well known in the community and further afield.
Our services and approach follow the findings that "Housing First is best used as part of an integrated strategy, which coordinates and provides the full range of services homeless people need, rather than as a standalone response to homelessness."(Housing First England: The Cost Effectiveness of Housing First in England, Pleace and Bretherton, March 2019).
Public benefit
The Trustees have considered the guidance provided by the Charity Commission regarding public benefit and the work of the charity.
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RENOVA TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2024
ACHIEVEMENT AND PERFORMANCE
Review, achievements and performance
The charity has continued to run efficiently despite the challenges post-pandemic and the cost-of-living crisis. The two houses we have in Bracknell are working well and our plan to have an additional two houses is coming to fruition. Through our partnership with Kerith Community Church, we have been offered a house to purchase and have found a company that will purchase the house and lease it back to us. This will give us the opportunity to accommodate 12 people at any one time. We are also fundraising for another house, this time to be in Wokingham /Reading areas due to the numbers of referrals we receive from there.
This year, we received grants from Berkshire Community Foundation, The National Lottery, Comic Relief through their partner Groundwork, Sabina Sutherland Charitable Trust, Leeds Building Society and Benefact Trust. We have also been commissioned by the HM Prison & Probation Service to provide rehabilitative services. For our capacity building, we have received grants from the following organisations - Wokingham United Charities and Bernard Sunley towards purchasing a house and Hobson Charity towards energy modifications to a new house.
In the last year, we have received over 42 referrals to our service, and we have accommodated 9 residents representing 2,508 nights of accommodation. The number of people we accommodated this year has reduced due to our residents finding stability of accommodation with us and we have had waiting lists of over 3 months for those wanting to come into our service, hence our decision to increase our capacity.
We provide a safe home, keywork, therapy and counselling to enable our residents address the deep-seated issues caused by or culminating in an individual experiencing homelessness or being marginalised. We integrate our residents back into community by linking them with a member of a local community, giving them the confidence and dignity to rebuild family relationships. We work with our residents through our citizenship course and volunteer opportunities to imbibe and develop civic responsibility. Our mentors work with our residents to get them ready for employment or to retrain. Our pathway for our beneficiaries is up to two years in supported housing, and a further 3 years of support if so required, to ensure they are able to maintain independent living. Each person also has an individual intensive support package of engagement with recovery services, including counselling or therapy and life skills training. We provided cooking on a budget training to our residents to help ensure they could manage in the cost-of-living crisis, in addition to them attending the CAP Money Management course. We continue to provide accommodation at a rebated rate to those who may not be eligible for housing benefit.
This year, we also organised a family fun day at the Oakwood Youth and Activity Centre as a fundraising event and to increase awareness of the work we do in the local community. The tickets sold out and we had as many as 36 volunteers work with us to facilitate the fun day.
We have continued our work of ensuring that our residents achieve the necessary outcomes. We are pleased to say that at the end of this financial year we have been able to assist 50% of our residents back into employment, training or education.
Our residents continue to report that what distinguishes Renova is that it is a safe home where they get on well with each other and they appreciate it being an environment that fosters their recovery. Our homes are well kept by the residents. We are pleased to report that, as a result again this year, there were no police call outs to our houses in the year - even though as a KPI we target a maximum call out of 6. So we exceeded our target - a testament to how well-run our service is.
Short/Medium Term Objectives
The charity's aim is to provide accommodation and support - primarily to residents of the Renova Houses, but possibly to other members of the public which can now be achieved through our partnership with the HM Prison & Probation Service for providing rehabilitative services to ex-offenders. We would hope that more of our beneficiaries would be back in employment or education. To this end, we will also link our residents to Colleges, Trainers and Companies providing Apprenticeships.
We aim to increase our capacity to accommodating 12 residents within the next 12 months possibly 17 residents, with a vision to increase our housing pool to 10 houses across the Southeast over a period of 10 years.
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RENOVA TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2024
ACHIEVEMENT AND PERFORMANCE
Volunteer Support
The total number of volunteers during the year was 42.
Our volunteers act as befrienders, mentors, life coaches, therapists, administrators or are involved in facilities management.
Staff
Full-time: 2 (2023: 1), Part-time: 2 (2023: 3).
FINANCIAL REVIEW
Financial review
During the financial year, the charity received donations, grants and other income amounting to £159,785 (2023: £179,779) and incurred expenditure of £125,070 (2023: £117,702)
Whilst there have been limited sources of funding and competition for available funding has been fierce, the charity with the aid of sound financial management from the trustees and the support of both its staff and volunteers has ensured that the charity remains financially viable. Although there has been a reduction in the income for this year, the charity has received several grants which are contingent on the charity’s third or fourth property being imminent. These grants are not reflected in the financial statements and will be recognised when received.
The current cost of living crisis has made it difficult for the charity to increase its regular donor pool. However, that still remains an important long-term strategy for the charity.
Reserves policy
The trustees seek to hold adequate reserves to meet three months' operating costs. Unrestricted, free reserves at 31st March 2024 totalled £54,437 (2023: £55,021).
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of expenditure. Expenditure in the year was £125,000. So the reserves should be between £31,350 and £62,700. Whilst reserve funds stand at £54,437, the sum of £10,000 has been set aside for the purchase of a new property in line with the charity's short/medium term objective of purchasing a property in Wokingham Borough Council/Reading due to demand at this time for the charity’s services. Further, we allow the capital costs for setting up each house to be £30,000. Therefore, if this capacity building/expansion is taken into account, the present level of reserves (£14,437) falls below the target required. The strategy is to continue to build reserves through planned operating surpluses.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Instruments
The Charity is controlled by its governing document, a deed of trust, and is established as a Charitable Incorporated Organisation (CIO), its activities are regulated by its constitution. The objects of the CIO are, for the public benefit -
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To relieve the needs of people who are former rough sleepers, vulnerably housed people or people who would otherwise be at risk of street homelessness, in Berkshire and such parts of the United Kingdom as the charity trustees may from time to time decide, including but not restricted to ex-offenders, those affected by relationship breakdown, illegal substance and alcohol addictions and people affected by poor mental health, or have been abused by the provision of supported housing, accommodation and related support services.
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The relief of financial hardship, sickness and to promote good health by the provision of accommodation or education.
Trustees
The named trustees have served during the year. The Trustees are kept informed of the activities and performance of the charitable organisation and provided with regular management information. The composition of the board is kept under review and additional appointments will be made should the need arise. All trustees are made aware of their responsibilities.
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RENOVA TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2024
Board Of Trustees
We have a board of 5 trustees. The existing board retains expertise of the key aspects required to run the charity - Vincent Balogun has current experience of managing and running supported housing, Stephen Ediale is a management consultant with expertise in Compliance and Anti-Money Laundering and is a qualified accountant, Lincoln Osunkoya was until recently a trustee of a large charity with a significant social justice department and Tess Osunkoya, a solicitor, specialises in family law and child law - with a significant portion of her work representing individuals who are typical of the Renova resident base. Caradog Davies is a qualified chartered management accountant with experience in financial management. Lara Fetuga has a finance background with 10 years' experience in Corporate Treasury.
Management Team
The management of the charity is undertaken mainly by the trustees. The trustees have worked hard to ensure that the charity is financially stable and sustainable - undertaking fundraising, building relationships with local churches, Green Pastures, Stewardship, Local Authorities, the HM Prison & Probation Services and other referral agencies, putting all the necessary policies and procedures in place and ensuring staff are recruited and in place to meet the needs of the service (Chief Executive Officer, Key Worker/Support Workers and a Bookkeeper).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE021289 (England and Wales)
Registered Charity number 1188757
Registered office
16 Marner Point Jefferson Plaza London E3 3QB
Trustees
Lincoln Osunkoya Amatesiro Osunkoya Stephen Ediale – resigned 31[st] January 2024 Vincent Balogun Caradog Davies Lara Fetuga – appointed 21[st] July 2024
Independent Examiner
Christopher Marsh MAAT Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
Website address
www.renova.org.uk
03/12/24
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
L Osunkoya L Osunkoya (Dec 4, 2024 14:31 GMT)
........................................................................ L Osunkoya - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RENOVA TRUST
Independent examiner's report to the trustees of Renova Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christopher Marsh MAAT
The Association of Accounting Technicians
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 05/12/24 Date: .............................................
Page 5
RENOVA TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 11,967 Charitable activities 4 Housing 97,305 Investment income 3 555 Total 109,827 EXPENDITURE ON Raising funds 272 Charitable activities Housing 101,896 Total 102,168 NET INCOME 7,659 Transfers between funds 14 (24,948) Net movement in funds (17,289) RECONCILIATION OF FUNDS Total funds brought forward 71,726 TOTAL FUNDS CARRIED FORWARD 54,437 |
Restricted funds £ 6,770 43,057 131 49,958 - 22,902 22,902 27,056 24,948 52,004 277,805 329,809 |
31.3.24 Total funds £ 18,737 140,362 686 159,785 272 124,798 125,070 34,715 - 34,715 349,531 384,246 |
31.3.23 Total funds £ 46,149 133,457 173 179,779 3,772 113,930 117,702 62,075 - 62,075 287,454 349,531 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 6
RENOVA TRUST
BALANCE SHEET 31 March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 - CURRENT ASSETS Debtors 10 2,213 Cash at bank and in hand 59,023 61,236 CREDITORS Amounts falling due within one year 11 (6,799) NET CURRENT ASSETS 54,437 TOTAL ASSETS LESS CURRENT LIABILITIES 54,437 CREDITORS Amounts falling due after more than one year 12 - NET ASSETS 54,437 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 290,000 - 52,309 52,309 (5,000) 47,309 337,309 (7,500) 329,809 |
31.3.24 Total funds £ 290,000 2,213 111,332 113,545 (11,799) 101,746 391,746 (7,500) 384,246 54,437 329,809 384,246 |
31.3.23 Total funds £ 290,000 1,912 99,534 101,446 (29,415) 72,031 362,031 (12,500) 349,531 71,726 277,805 349,531 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 03/12/24 ............................................. and were signed on its behalf by:
L Osunkoya L Osunkoya (Dec 4, 2024 14:31 GMT)
.............................................
L Osunkoya - Trustee
The notes form part of these financial statements
Page 8
RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the CIO, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and relevant charity legislation. The financial statements have been prepared under the historical cost convention.
The functional currency of the charity is sterling and amounts in the financial statements are rounded to the nearest pound.
Going concern
The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment.
Critical estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Tangible fixed assets comprise of the freehold property purchased in the year at cost; no depreciation has been applied in this period.
Taxation
The charity is exempt from corporation tax on its charitable activities and is not registered for VAT.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each restricted fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| Donations and grants Gift aid 3. INVESTMENT INCOME Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Housing Income Housing Grants Housing Grants received, included in the above, are as follows: Berkshire Community Foundation Arnold Clark Community Fund Comic Relief through Groundwork The Clothworkers Foundation The Shanly Foundation B&Q Foundation Methodist Circuit Albert Hunt Trust The Englefield Charity Wokingham United Charities MSE Charity HMPPS, Probation Service Sabina Sutherland Charitable Trust Leeds Building Society Benefact Trust National Lottery |
31.3.24 £ 15,163 3,574 18,737 31.3.24 £ 686 31.3.24 £ 94,885 45,477 140,362 31.3.24 £ 2,500 - 9,000 - - - - - - - - 10,807 1,000 1,420 750 20,000 45,477 |
31.3.23 £ 40,955 5,194 46,149 31.3.23 £ 173 31.3.23 £ 86,421 47,036 133,457 31.3.23 £ 7,500 1,000 5,880 7,000 4,000 5,000 5,000 3,500 5,000 2,500 656 - - - - - 47,036 |
|---|---|---|
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| Independent examination costs | 1,950 | 1,950 |
6. TRUSTEES' REMUNERATION AND BENEFITS
One trustee received remuneration of £37,500 (2023: £33,125) in the year under review by virtue of their position as Chief Executive Officer of the charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 18,350 Charitable activities Housing 92,421 Investment income 173 Total 110,944 EXPENDITURE ON Raising funds 3,772 Charitable activities Housing 77,051 Total 80,823 NET INCOME 30,121 Transfers between funds (2,535) Net movement in funds 27,586 RECONCILIATION OF FUNDS Total funds brought forward 44,139 TOTAL FUNDS CARRIED FORWARD 71,725 |
Restricted funds £ 27,799 41,036 - 68,835 - 36,881 36,881 31,954 2,535 34,489 243,315 277,804 |
Total funds £ 46,149 133,457 173 179,779 3,772 113,932 117,704 62,075 - 62,075 287,454 349,529 |
|---|---|---|
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
All staff No employees received emoluments in excess of £60,000. 9. TANGIBLE FIXED ASSETS COST At 1 April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
31.3.24 3 |
31.3.23 4 Freehold property £ 290,000 290,000 290,000 |
|
|---|---|---|---|
The charity purchased a freehold property in Bracknell in March 2021 which will be used in connection with its charitable objectives.
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Trade debtors | - | 48 | |
| Other debtors | 2,213 | 1,864 | |
| 2,213 | 1,912 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Other loans (see note 13) | 5,000 | 25,000 | |
| Social security and other taxes | 1,476 | 710 | |
| Other creditors | 3,267 | 1,755 | |
| Accrued expenses | 2,056 | 1,950 | |
| 11,799 | 29,415 |
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| £ | £ | ||
| Other loans (see note 13) | 7,500 | 12,500 | |
| 13. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Other loans | 5,000 | 25,000 | |
| Amounts falling due in more than five years: | |||
| Repayable by instalments: | |||
| Other loans more 5yrs instal | 7,500 | 12,500 |
Two separate loans of £40,000 each were received by the Trust in March 2021 from supporters of the charity - both loans are unsecured, interest free and due for repayment by equal instalments over 10 years commencing in October 2022.
Loan 1 - the donors agreed to transfer £13,000 of their original loan to a donation to reserves in the year ended 31 March 2022 leaving a balance of £27,000 which was donated in full to the charity in the year ending 31 March 2023.
Loan 2 - the charity agreed to repay an extra £20,000 of the loan in the year ending 31 March 23 with payment made in the year ending 31 March 2024. This is reflected in the balance due within 1 year.
The total amount of loan due and payable after more than 1 year but within 5 years was £7,500 at 31 March 2024.
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Renova House Welcome Pack Salaries 3rd House Setup Garden Office House Setup Repairs & Maintenance Fund Wokingham United Charities Fund New House Fund TOTAL FUNDS |
At 1.4.23 £ 71,726 252,500 7 - 12,546 5,252 5,000 - 2,500 - 277,805 349,531 |
Net movement in funds £ 7,659 - (27) 903 23,113 - - 2,285 (1,448) 2,230 27,056 34,715 |
Transfers between funds £ (24,948) 25,000 20 - (1,540) - (5,000) - (992) 7,460 24,948 - |
At 31.3.24 £ 54,437 277,500 - 903 34,119 5,252 - 2,285 60 9,690 329,809 384,246 |
|---|---|---|---|---|
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Welcome Pack Salaries 3rd House Setup Repairs & Maintenance Fund Wokingham United Charities Fund New House Fund TOTAL FUNDS |
Incoming resources £ 109,827 - 22,312 23,131 2,285 - 2,230 49,958 159,785 |
Resources Movement expended in funds £ £ (102,168) 7,659 (27) (27) (21,409) 903 (18) 23,113 - 2,285 (1,448) (1,448) - 2,230 (22,902) 27,056 (125,070) 34,715 |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Keywork, therapy and training Bracknell Forest Borough Council Renova House Methodist Church Probation Service Involve MSE Charity Welcome Pack 3rd House Setup Garden Office House Setup Repairs & Maintenance Fund Wokingham United Charities Fund TOTAL FUNDS |
At 1.4.22 £ 44,139 2,755 3,573 223,052 2,139 760 5,000 5,904 132 - - - - - 243,315 287,454 |
Net movement in funds £ 30,122 (2,755) (3,573) 27,000 (2,139) (760) (5,000) (5,904) (125) 12,546 5,252 5,000 (87) 2,500 31,955 62,077 |
Transfers between funds £ (2,535) - - 2,448 - - - - - - - - 87 - 2,535 - |
At 31.3.23 £ 71,726 - - 252,500 - - - - 7 12,546 5,252 5,000 - 2,500 277,805 349,531 |
|---|---|---|---|---|
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Salaries Restricted funds Keywork, therapy and training Bracknell Forest Borough Council Renova House Methodist Church Probation Service Involve MSE Charity Welcome Pack Salaries 3rd House Setup Boiler replacement fund Garden Office House Setup Repairs & Maintenance Fund Wokingham United Charities Fund TOTAL FUNDS |
Incoming resources £ 102,162 8,782 110,944 - (1) 27,000 5,000 - - 656 - 5,880 12,500 2,500 7,000 5,000 800 2,500 68,835 179,779 |
Resources Movement expended in funds £ £ (72,040) 30,122 (8,782) - (80,822) 30,122 (2,755) (2,755) (3,572) (3,573) - 27,000 (7,139) (2,139) (760) (760) (5,000) (5,000) (6,560) (5,904) (125) (125) (5,880) - 46 12,546 (2,500) - (1,748) 5,252 - 5,000 (887) (87) - 2,500 (36,880) 31,955 (117,702) 62,077 |
|---|---|---|
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Keywork, therapy and training Bracknell Forest Borough Council Renova House Methodist Church Probation Service Involve MSE Charity Welcome Pack Salaries 3rd House Setup Garden Office House Setup Repairs & Maintenance Fund Wokingham United Charities Fund New House Fund TOTAL FUNDS |
At 1.4.22 £ 44,139 2,755 3,573 223,052 2,139 760 5,000 5,904 132 - - - - - - - 243,315 287,454 |
Net movement in funds £ 37,781 (2,755) (3,573) 27,000 (2,139) (760) (5,000) (5,904) (152) 903 35,659 5,252 5,000 2,198 1,052 2,230 59,011 96,792 |
Transfers between funds £ (27,483) - - 27,448 - - - - 20 - (1,540) - (5,000) 87 (992) 7,460 27,483 - |
At 31.3.24 £ 54,437 - - 277,500 - - - - - 903 34,119 5,252 - 2,285 60 9,690 329,809 384,246 |
|---|---|---|---|---|
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continued...
RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Salaries Restricted funds Keywork, therapy and training Bracknell Forest Borough Council Renova House Methodist Church Probation Service Involve MSE Charity Welcome Pack Salaries 3rd House Setup Boiler replacement fund Garden Office House Setup Repairs & Maintenance Fund Wokingham United Charities Fund New House Fund TOTAL FUNDS |
Incoming resources £ 211,989 8,782 220,771 - (1) 27,000 5,000 - - 656 - 28,192 35,631 2,500 7,000 5,000 3,085 2,500 2,230 118,793 339,564 |
Resources Movement expended in funds £ £ (174,208) 37,781 (8,782) - (182,990) 37,781 (2,755) (2,755) (3,572) (3,573) - 27,000 (7,139) (2,139) (760) (760) (5,000) (5,000) (6,560) (5,904) (152) (152) (27,289) 903 28 35,659 (2,500) - (1,748) 5,252 - 5,000 (887) 2,198 (1,448) 1,052 - 2,230 (59,782) 59,011 (242,772) 96,792 |
|---|---|---|
Restricted funds descriptions
Keywork, therapy and training - Funds donated as a contribution towards keywork, therapy and training activities
Bracknell Forest Borough Council - contribution towards project activities or costs allocated to salaries
Renova House - donations from a variety of sources were restricted to cover the acquisition cost of a freehold property in Bracknell renamed Renova House
Methodist Church - allocated as contribution towards salaries
Probation Service - contribution towards project costs and salaries
Involve - contribution towards core costs allocated towards salaries
MSE Charity - contribution towards salaries and ancillary costs to deliver money management courses to residents
Welcome Pack- funds received from multiple sources restricted to purchase of items included in resident welcome packs/hampers
Salaries – funds received for salary costs 3rd House Setup – funds received for setting up the third house Garden Office – funds received for setting up the Garden Office
House Setup – funds received for setting up of houses (non-house specific)
Repairs & Maintenance Fund – funds received for specific repairs and maintenance
Wokingham United Charities Fund - funds received for project costs and capacity building for a house in Wokingham Borough
New House Fund – funds received for setting up a new house
continued...
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RENOVA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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