Charity registratlon number 1189399 WELCOME HOUSE CIO (Charitable Incorporated Organisation) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
WELCOME HOUSE CIO LEGALAND ADMINISTRATIVE INFORMATION Trustsèg l Munkaila P M Dalby H G Forrest C J Cuthill Dr J Morg8n Dr R Goddard SHart A Chakouch P Harper M Martins (Appointed 26 April 20241 IAppointed 26Apnl 20241 (Appointed 28 April 20241 (Appointed 28 April 20241 Charfty number 1189399 Regl$tered and Princlpal addre$$ 3 Vvright Street Hull United Kingdom HU2 8HU Independent 8xamln8r Jonathan Leathley FaWY Judge & Easto Chartered C8rtified Accountants 1 Parli3ment Street East Yorkshire HU12AS Bankeys HSBC Bank PIC 3 J8meson Street Hull HU1 3JX
WELCOME HOUSE CIO CONTENTS Pag& Trustees, report Independent examinerfs report Stslement of financial activrties Balance sheet Note5 to the financial slalemenls 9-19
WELCOME HOUSE CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2024 The trustees present their annual report and finanrial statements for the year ended 31 July 2024. The financi31 statements have been prepared in accordan with the accounting policies set out in note 1 to the fiffanci81 statements and cornply with the challty's consts"tution, the Charities Act 2011 and AccA)unting and Reporting by Charit18s" Statement ol Recommended PractirE applicabl8 to charities piepaiing their acwunts in accordan with the Financi81 Reporting Standard appli¢at)le in the UK and Republic of Ir818nd IFRS 1021" leffecb've 1 January 20191. Obj8ctlV8s and actlvltles The charity's objects are for the benefit of the public living in Hull and the East Riding 11 To relieve financial hardship among those seeking asylum and those granted refugee status together with their dèpendants by providing.. al Financial assistan in the forrn of grants, loans or payment for servi$ such as e858ntial housa decorating. insulation and repairs and utilities. bl Items such as furniture, clothing. food and other household essential5, cl Faulities such 85 the supply ol tools or books. payments of fees for instrudion. examination or other 8xpenses connected wth vocational training, language, literacy. numencal or technical skills, travelling expen38S to help the recipients to earn their living, equipment and funds for recreational putsurts in the Interest of social welfar8 or training intended to bring the qualty of life of the beneficiaries to a reasonable stsndard and dl Information. advice and guidanrA to assist with banafits, ents"tlemeDts and money managemÉnt. 21 The presetvation and protection of the physical and mental health of those 888king asylum and those granted refugee ststus by offering Informats"on, support and practical Wjvi. 31 To advan the education and training ol those seeking asylum and those granted refugee status and their dependants in n88d thereof so as to advan( thern in life and assist them to adapt within a new community. 41 To advan religious and racial hamony, equality and diversity by promoting good reiatsons beeen refugee and xsylum seekers and the wider community. The trustees have paid dua regard to guidance issued by thg Charity Commi55ion in deciding what activities the charity should undertake. Our servIS dirèctty benefit a sufficient section of th8 overall population in Hull and the East Riding, the 3 to 5.000 Refugees and Asylum S88k8rs r8sident sn the area., and benefit the existing population by prornoting awareness, understanding and integration. None ol our activiti88 8r8 undèrtaken lor profil,. all of our activities are provid1 tr88 to Asylurn Sèokars and R8fugees," and none of our Trustees lor r81at8d parties) re1ve any payment or remuneration for their services. Our seN1$ create substantl81 b8nefits for our Servi users,. and benefit the wider community by promoting the ability of refugees and asylum seekers to contribute and take part In the life of the communty, promobng Integration, on all side$.
WELCOME HOUSE CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 During our fourth year. from August 2023 to July 2024, Welwme House has met our Charitab Objectimties and Activities objectives through activities delivering personal, soaal, educational and piactical 5UPPOrt to Asylurn Seekers and Refugees in th8 City of Hull, 8nd across the East Riding." in particular. we have stroro user groups established in Beverfey and Bridlington, and strong links to organisations supporting us in Hessle, Willarby, North Ferriby. Bèverley, 8ndlington and Goole. Our services directly benefit not only asylum seekers and refvgees in Hull and East Riding but also the existing population by promoting 8warengss. undeist8nding and Integration. None ol our actiwties a undertaken for profit,. all our activities are provided free to Asylum Seekers and Refugees", and none of our Trustees lor r81at8d partiasl receivè any payment or ramunar8tion for thair sèrvicès. Our $8rvic88 create substantial benefits for our SeN1 users., and benefit the wider community by promoting the ability of fUgeeS and asylum seekers to ¢ontributs and taka part in the life of the cornmunity, promoting integration, on all sides. Persoiial Stjpport We provided advi. signposting and r8ferrals for thos8 s88king hglp with th8ii new lives. both in dealing with agan&s over matters such as their asylum applications or housing.. or practical sUPPOrt in finding a GP or school for the children.. or just locating the right mosque or church. We developed partnerships with a host of local 89encies, Including Hull City Council leducation. housing and social 5etvicesl." the Red Cros5. DV", Humberside Poliix., local imrnigrth.on advisors and lavryers. We made ferra1$ for couns&lling and psychiatric support. Social Support Vve have established groups lor families, single pants, wornen.. and groups made up from particular n8tiorialities or ethnicity. We send ov8r 10.000 meals. e5ch an opportunity for friendship and making Contacts. We developed an active sports programme, including cricket and football, local walks, with support from Active Humber and Sport for All_ Our football dub. Acom FC. has made a huge Impact for the 200 or so young men tsking part. EdiKational Stspport Our ESOL programme is well estsblished. with beginners. intermediate and 8dvanced courses. this year we registered over 450 students. We run a variety ol courses to promote awareness and Integration." an Intro(luction to the City. including finding your way about, key 5etvice5, Other 5UPPOrt 8g8nci8s. We ran groups forArt and Music. Vve helped Individuals with fees for exams and courses. Piaclical Support. gave ovei 300 small grants (many wth fund5 from ACTS 4351 to help with particular needs.. for example, b8dding or household equipment, emergency food parcels". help with travel." fees for court applications or exam5. We worked with Hull Help for R8fuge8S to distribute clothing to refugees and asylum seekers, and with the St Vincent de Paul Society to provide period products, toiletries and nappses. Vve distributed over 100 large christmas hampers, with a grant from the Society ol Marists. Welcoine House. a Cornmunity Centre. All of the support described above is organised frorn, and often delivered in, Welcome House, our Community Centre, located in the centre ol Hull. Our building is open to all who support Refugees and Asylum Seekers. Vve h5ve logged nearly 25.000 visits during the yearl That is a huge number for any social and community centre. let alone for a community as ijiverse and physically seattèred as refugees and asylum seekers. They took part in ESOL and other courses, attended meeting5 2nd soaal gatherings. We organised a range of cuttur81 events and c818brations, Marking particular occasions lor the rnany different national and ethnic communrties amongst our Servi users. Our kitchen was brought into full use. serving 10,000 meals over th8 year, with support mainty from the Church of L8tt8r-Day Saints, the Scurrah Wainwright Foundation. and the Know Your Neighbourhoad Fund. The building is used by many of our partner organisations to deliver services. for examp, the Ukrainian Community use W81come House on Saturdays to provide a pla ol support, education and sooal contact for Ukrainian refugees auoss Hull and th8 East Riding. Regular surgeries were held by The Rad Cross. the Refvgee Council, Citizèns Advic* and Housing and Sètuernent offic8r5 from the City Council.
WELCOME HOUSE CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Staff For almost all our first iwo years, we had only one full-time employee. Bashir Siraj, now our Chief Officer. With the generous support of our funders. and the National Lottery in particular, we now have over t%¥elve staff. We have a part-time roles ol Volunteer Coordinator and Administration Officer , and a number of part-time ease and support worker5. 3 New Arrivals and Worn8n's Officer funded by the Grail Comrnunity, an Education Worker funded by Northern Da1ri8s Educational Trust, an Afghan Comrnunity Support Worker funded by th8 Leonard Chambertain Tmst, a Kitchen Supervisor. and several kitchèn assistants. Towards the end ol the year, we gained funding, as part ol a cty-wid8 con50rtium, for a major Employabilty Project to help refugees find work". thie8 of our volunt8ets gain8d posts on this programme By the end of the year, we had fourteen staff. thirteen were fUgees., one is from the host comrnunty. Hull. Volunteer Programme recruit8d another forty Volunteers over the y8ar to join our existing team. The is a high tumover ol volunteers, as p80pl8 rnove on. sometimes by the Home Offi(, or into employTh6nt, with Welcome House or elsewhere.. or into education. Their contribution Is central to the Welcome House way of working 8nd setwee delivery. Some come from the local cornmunity Iparticulady our valued ESOL tutorsl. but rnost volunteer8 ar asylum seekers and refugees themselves. Thay come trom over thirty nationalities and keep us in touch with many different refugee and asylum seeker communities in Hull. Th8y have huge experien and skills to draw on, frorn translakn.on services. to taking classes, to showing people round the City and out into the countryside, to helping with the bureaucracy required to live in a UK city. Our Volunteer Programme provides opportunities to enable asylum seekers and refugees to develop their skills and employability, and to contribute to the life ol the community. Financial review Our financas have cOVered strongly over th8 year. from a difficult start, enabling us to expand our activitie3 and support for refu98es and 85ylum seekers, while rebuilding our reserv8S to a healthy posrtion. Our balance at tha stsrt of the year was around £26.000, and wè had to make limited cuts to a number of programmes The security deriv8d from our the-year National Lottery Grant lour only lon9er- tetm funding) enabled us to avoid any rn0 dmstic measur85, and wè were fortunate to secure further income over theAutumn and Winter. By Christmas. we wèrè In a much healthier position. with a balance of around £100,000, w& incr8asad spending on our activites 5te&dily throughout the year. finishing with a balan of £136,000 on 31 July 2024. Of that, over £50,000 were unr85trict8d funds, enabling us to establish a Reserve ol months running costs, approxiffl8tely £45,000. It is the policy of the charity that UnStrICted funds which have not been designated for a specific use 5houk be maintained at a level equivalent to belween Ihr88- and six-months, 8xpenditur8. Our Incorne h85 continued to increase thi5 year, and we a on target to achieve a reserve of the months running costs by the end ol the ¢urrent financial year. That Is a considerable achievement for a new charity, stsrting from scratch with no established capitsl base or endowment. The tru5t8es consid8r that r858rves at this 18V81 will ensure that, in th8 event of a significant drop In funding. they will be able to continue the charity's current activities while consideration is given to way5 in which additional funds may be raised. We have a small core of comrnitted individual supporters who contribute monthty by StanLling Order", and rec8iV& 8 number of individual donations during the year. We are most gratefvl for this individual financial support. The bulk of our incom8 cornes frorn 9rants". these range frorn the very large (The National Lottery.. £88,000 a year. covering rnuch of our core funding) to much smaller grants ol a few thousand pounds for specific purposès". to support a particular community or activity such as sports and football.. walking, the kitchen, Christrnas Harnpers.. and social or seaside trips and the prowsion of household rtems We should make particular mention ol The Sir James Reckitt Charity who. in addition to their regular funding. gave us a Centennial grant of £40,000 thi5 y&ar', to Hull and East Riding MIND who gave us a grant of £47,000 to spend in Hull and the East Riding on activities supporting the mentsl health of rekngees and asylum seekers. The National Lottery increased their main grant to take account ol the rise in Inflth"on". and in addition. gave us a Cost-of-Living Grant to fund extra support for our servictr us8rs of £30,000.
WELCOME HOUSE CIO TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 strueturè, gov•maneo and manag•mènt Thè charity is a Charitablè Ineorporated Org8nisation ICIOI. with a Consb'tution, (based on the Charity Comrnission's model CIO constitution). registered with the Charty Commission on 7 May 2020, and available on request. The trustees who served during the year and up to the date of signature of the fin8n¢ial statements were.. A Chakouch (Resigned 12 Sept6mbar 20231 l Munkaila P M Dalby H G Forrest M Martin C J Cuthill Dr J Morgan Dr R Goddard SHart (Resigned 26 April 20241 (Appointed 26 April 20241 (Appointed 26 April 20241 (Appointed 26 April 20241 (Appointed 26 April 20241 We We pleased to appoint new Trustees, following an open erUthent exèrasa, in aarfy 2024". Chris Cuthill Robert Goddaid Shirley Hart Dr J&ff Morgan We give our bestwishes and thanks to the Trustees who resigned during the year". Mikèy Martins- (Resignad 26 April 20241 Ayman Shakoush- (Resigned 12 Septsmber 20231 Details of organisational 5tructyrg. Trustees ale proposed for el8Ction 8t a duly constituted Board meeting and ekct6d by vote of the Trustees. New Trustegs are given an induction pack and offered relevant training opportunrties as they arise. Trusteas are unpaid volunteers. Trustee expenses arnounted to under £100 for the year. The Trust Board ejects a Chair.. Trish Dalby was Chair throughout the year. The Trust Board meets 8V8ry tsvo months, six times a year. In the intervening months the is a Sub Comrnitt88 m88ting, for Financial and General Purposes, to d8al with urgent issues and to revièw perfonran and a¢tivits'es. Gharity 43 run for all daY-tdaY purposes by its Chief Oficer. Bashir Siraj. who reports to the Trust Board. We cannot r8POrt on this last financial year foi Welcom& House without refiectirvJ on the events In late July and 8ady August 2024 which saw far-right. anti-irnrnigration protests and riots across England, Including Hull. The impact of these dreadful gvents was significant on the individuals and families we support from Welcome Htsu5e and nford th8 need for not only our servitss but for all those organisations In our City who aspire to see asylum seekers and refugees empowèr6d lo build and lead fulfilling lives. connected to loe81 serviw, integrated with local communrties and actively contributing to soaety in the Hull and East Yoikshir8 area.
WELCOME HOUSE CIO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 The trustees. report was approvad by th8 Board of Trustees. P M Dalby Trustee 25Apiil 2025
WELCOME HOUSE CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELCOME HOUSE CIO l ptsrt to the trustees on my axarnination ol the frnancial statements ol Walcome House CIO (the tharityl for th year ended 31 Juty 2024. Re5pon8lbllltle$ and basis of report A5 the trustees ol the charity you are responsible foi th8 preparation ol tha financial statements in accordancè with the reqU1ments of the Charity'es Act 2011 (the 2011 Acll. I report in respect of my ex8min8tion of the charity's financial statements carried out under section 145 of the 2011 Act. In rryIng out ffly examination I have followed all the applicable Directions giv8n by the Charity Commission under *ction 14515llbl of the 2011 Act. Independent examlnerfs statemènt sin the charity's gross income exed £250.000 your examiner rnust be a member of a body listed In section 145 of the 2011 Act. l ¢onfimi that l am qualified lo undertake the examination because l am a member of IENTER IN DATABASE cy10151, which Is one of the listed bodies. Your attention 15 drawn to the fact that the charty has prepared financial Statements In accordan with Accounting and Reportsng by Ch8rit18s preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ilathd IFRS 1021 in preference to the Accounting and Reporting by Charities". Statement of Recommended Pract1 issued on l April 2005 which is referred to In the Bxtsnt regulations but ha5 now been thdrawn. l understand that this has been done in order for financial statements to provide a true and fair view In accordan with Generally ACpted Accounting Practic8 effective for reporting peiiod5 beginning on or 8fter 1 January 2015. I have completed my axamination. I confirm that no matters have corne to my attention in conwction wrth the examination giving rne cause to believe that in any material respect. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financial statements do not accord with those records, or the financial staternents do not cornply with the applicable requirements (yJnc8rning form aThJ content of accounts set out in the Charities (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an in¢epen(5ent examination. I have no cOnrn$ and have come across no other matters in connecty'on with the 6X8mination to which attention shoul(J be n in th15 raport in order to enable a prop81 understanding of the Iinsncial statements to be reached. Jonathan Leathley, FCCA 1 P8rli8ment Street East Yorkshire HU12AS Dated.. 25April 2025
WELCOME HOUSE CIO STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 unrtricted Restricted funds funds 2024 2024 Total Unra8trici8d Restrlctsd funds funds 2023 2023 Total 2024 2023 Notes Income and endowrnents from= Donations and legacies Other incorne 75.277 5,495 281,951 357,228 5,495 30.976 1.710 152,648 183.624 1.710 Total Income 80,772 281,951 362,723 32.686 152,648 185.334 Expenditure on.. Charrtablè activitiès 28.611 227,228 255,839 42.802 152,280 195.082 Total expenditure 28.611 227,228 255,839 42.802 152.280 195,082 N•t IncoM•ll•xnturèl 52.161 54,723 106,884 110.1161 368 19,7481 Transfèrs bèlwèèn funds 11481 148 Net movement In lund8 52,013 54,871 106.884 110,1161 368 19.7481 Reconclllatlon of funds: Fund balan$ at 1 August 2023 23,814 19.412 43,228 33,929 19,045 52,974 Fund balances at 31 July 2024 75,827 74,283 150,110 23,813 19,413 43,226 The stslement ol financial activth.es indud85 all gains and losses recognised In th& year. All incorne and expenditure derive from continuing 3¢tivib'es.
WELCOME HOUSE CIO BALANCE SHEET ASAT31 JULY2024 2024 2023 Nots5 Fixed assets Tangible assets 11 6,107 16,587 Current assets Debtors Cash al bank and in hand 12 5,754 138,351 3,200 27,361 144.105 Creditors= amounts falling due withln one year 30,561 13 11021 13,9221 Net Cuent assets 144.003 26,639 Total assets less current liabilities 150,110 43,226 Net assèts excludlng penslon liabillty 150,110 43.226 The funds of the charity Restricted incom& funds Unrestricted funds 14 74,283 75,827 19,413 23,813 150,110 43,226 The financial statements were approved by the trustees on 25 April 2025 H G Forrest Trustee
WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2024 Accounting pollcles Charity inforniatign Welcoffle Hou58 CIO was founded 9 Dec6mb8r 2019 and is currentty constituted under a con5ts'tution dated 9 December 2019. Registered Charity nurnber 1186826. 1.1 Accounting conventlon The financi81 statements have been pPared in accordan with the charity's Igoverning docurnentl, the Charities Act 2011. FRS 102 "The Financial Reporting Stsndard applicab18 in the UK and Republic of Ireland I'FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charities". Ststement of Recommended Prathce applicable to ch8ritEs preparing their accounts in accordan with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public 8enefit Entity as d8fin8d by FRS 102. The charity has taken advantage of th8 provision5 in the SORP for charities not to prepare a Statem&nt of Cash Flows. The financial statèments have dgparted from the CharitS IAccouNts and Reports) Regulation5 2008 only to the extent rgquired to provide a true and fair view. This d&p8rture has involved following th8 Statement of Recornmended Practi for eharitl85 8pptying FRS 102 rather than the version of the Statement of RecDrnmended Practice which 15 referred to in the Regul8ts"ons butwhich has Sin been withdrswn. The financial statements are pr&p8r8d in sterting. which is the funciion81 currency of the Charity. Mon6tsry amounts in th8s8 Iinancial statements are rounded to thè n8arest £. The fin3n¢ial statements have b8en prepared under the histor5cal cost eonvention. lrnodified to include the r8v8lu8tion of freehold properbes and to Include investrnent properties and certain finanaal instruments at fair valuel. The principal a¢UntIng policies adopted are set oul below. 1.2 Golng concern At the ts.me of approving the finanaal stat8ments. the trustees have a reasonable axpectatian that the charity has adequate resources to continue in operational existence for th8 foreseeable future. Thus the tru5te8s ojntinue to adopt the going conrn basis of accounting in preparing the firnanaal statamènts. The Trustees take that view In the light of the very significant increase in grant Incomè in the current year, and the commitment frorn our major fund8r. The National Lottery, to continue to provKl& core fundin91£88,8001 for the n8Xt year. 24125. 1.3 Charltable funds Unrestri¢ted ftjnds are available for use at th6 discr8tion of the trustees in lurth6rarn(x of their charitable objectives. Restricted lund5 ala subject to specific conditions by donors or grantors as to how they may be usod. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowrngnt fijnds are subject to specific condth.ons by donors that the caprtal must be Maintained by the charity. 1A Ineornè Income Is recognised when the charity is legally entitled to it after any performance condits.ons have been met, the amounts be rfieasured reliably. and rt is probab that income will be r6cèiv8d. Cash donations are recognised on receipt. Other donations are recognised onc8 the charity has been notified of thè donation. unless perfomance eonditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under GiftAid or deeds of tx)venant is recognised at the time of the donation.
WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting pollciès l¢ontlnu8dl Legacies are ¢0nised on reIpt or otherwise if the charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the arnount is not known. the legacy is treated as a nting8nt a$seL Expenditure ExpendituE is r8coonised On there is a legal or constructive obligation to tran5f6r economic benefit to a third party. it is probable that a transfer ol economic benafits will be required in settlemènt. and the amount of the obligation can be measured reliabty. Expenditu is classified by activity. The costs of each activity are made up ol the tot81 of direct costs 8nd shared costs, including support costs inVoed in undertaking each a¢tivity. Direct costs attribLrtab18 to a single activity are allocated direcdy to that activity. Shared costs which contribute to more than one actimty and support costs which are not attributsble to a singlg activity are apportioned between those activitie5 on a basis nsistent with the us8 of resources. Central staff costs are allocated on the basis of time spent, and depatIOn charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are inrti81ty measured at Cost and subsequently measured at cost or valuation. net ol depreciation and any impaimient lossès. Depreoation is recognise(I so as to write off the cost or valuation of assats 3$ their residual values over their Useful lives on thè following bases". Plant and equipment 33% on a straight line basis The gain or10s5 arising on the disposal of Sn asset is determined 85 th8 differenca b8tween the salè PrOd$ and the carrying value of the asset, and is r8cognised in the stat8rnent of f nancial activitie8. 1.7 Impairment of fixed assets At each reporting end date, the ¢harty reviews the Carrying amounts of its tangible assets to determine whether there is any Indication that those assets have suffered an impairrnent loss. If any su¢h inditIon exists, the e0verabl8 amount of the asset is e$tirnated In ordar to detemiine tho extent of the Impairrnent loss lif any). 1.8 Cash and cash equlval•nts C85h 8nd cash eqUIvarnts Include cash in hand, daposits held at call with banks, othèr short-term liquid investments with original maturities of thrèa rnonths or less, and bank overdrafts. Bank overdrafts ar8 shown thin borrowings in current liabilities. 1.9 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instiuments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all ol its financial instruments. Financial in5trurnents are recognis8d in the Charity's balance sheet wh&n the rhanty bacomes party to th& contractUs1 provisions ol the Instrument. Financial assets and liabilits.es are offset. with th6 nèt amounts presented in the financial statement5. when therè Is a legally enfrjrb1e right to set off the recognised arnounts and therè is an intenton to settle on a n81 basis or to realise the asset and s6td8 the liability simultaneousty. 10-
WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting policies (Continued) Baslc flnancial assets Basic financial assets, which indyde debtors and cash and bank balanc8s. are inrtially me85ur8d at transaction pnce induding transaction costs and a subsequently carried at arnortised cost using the effects've InteSt method unless the arrangement constitutes a financing transaction, where the transaction Is rneasured at the psent value of the future reiptS discx)unted at a market rats of interest. Financial assets dassified as receivable within one year ar8 not amortised. 81¢ financial liabilities Basic financial liabilities, including creditors and bank loans are initially rècogni3ed at transaction price unless the 8rrangement constitutes a frnancing tr8nsaction, Whe the debt instrument is measured at the present value of the futu payments discounted at a market rate of Int8r8St. Financial Iiabilitl85 c183sified as payable within one yasr are not amorbsed. Debt instruments arè 5ubs8quenUy carried at amortised cost, using the effectNe Interest rate method. Trade creditors are oblKJations to pay for goods or 5erviw that have bean 3c4uired in the ordinary Urse ol operations from suppliers. Amounts payable a dassilied as current liabilities If payment is due within one yes1 or $5. If not, they are presented as non-currenl liabilities. Tr8d8 creditor5 are recognised inib'ally at transaction pri and subs8quenly rneasured at amortised cost u3ing the effective Intèr8St rnethod. Der8cognition of financial Ilabllltles Financial liabilities are deCognis&d when the charity's contractual obligations expire or ara discharged or can11&. 1.10 employee beneflts The cost of any unused holhjay entidemènt is r8cognised in the period In which the employee's sarvicxs are received. Tèmiination benefts are recognised immediat8ly 8S an expense when tha eharity is dernonstrably mmItted to terminate the etnployment of an ernployee or to provide termination benefits. Criti¢al a¢countlng •stimatss and judgements In the application of the charity's accounting policies, thè trustees are reqUId to m8ke judgements, estirnates and assumptions about the carrying amount of assets and liabilities that are not readily app818nt from other sources. The estimatas and associated assumpts.ons ara based on historical experien and other factors that are consid8r8d to be relevant. Actual results may differ from these estirnat&s. The estimates and underfying assumptions are v1&Wed on an ongoing basis. Revisions to aecounting estimates are recognised in the period In which th& estimate is Visad where the vIsion aff8ct5 only that p6nod. or in the period ol the revision and future periods where th& revision affects both current and fL5ture p&riod$. 11
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WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2024 Other Income Unr•stricted Unrestricted funds funds 2024 2023 Other income 5.495 1.710 Expendlture on charitsble a¢tlvlti•s Personal. Personal, social and soclal and educational edtscational support SUPPOrt 2024 2023 Dlrect Costs Staff costs Charitable actwib"&s 114.431 42.969 87,822 22.184 157,400 110,006 Share of support and govèrnance ¢osts1$•o nots 61 Support Govemance 97,292 1.147 83.891 1,185 255.839 195,082 Analysis by fund Unrestricted funds Restricted funds 28.611 227,228 42.802 152.2eo 255,839 195.oe2 14_
WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2024 Support costs allocatsd to a¢tivities 2024 2023 Staff costs Deprecialion Adrninistration costs Insurance Kitthen ¢0s15 Volunteer expense5 Light and heat Computer and sOfare costs Rates Bank charges Repairs and renewals Govemance costs 5.742 10.480 8,058 9,930 6,973 983 20,032 3,035 4,324 287 27,448 1,147 2.894 7.586 13.620 755 22,791 5,076 18,122 1,085 966 10,9 1,185 98,439 85,076 Analysed betsveen: Personal, social and educational support 98.439 85,076 Net movemgnt in funds 2024 2023 The net rnovement in funds is stated after chargingllcrediting}'. DepCiatIon of owned tangible fixed assets 10.480 7,586 Trustees None of the Iiuslees lor any persons connected with therrl received any remuneration or benefits from the harily during the year. Employees The average monthly numb8r of employee5 during the year was". 2024 Number 2023 Number 10 Employment costs 2024 2023 Wages and salaries Social seojrity costs 120,173 87,664 3,052 120,173 90,71fj 15
WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 Employèts Icontlnuedl There were no omployees whose annual remuneration was morè than £80.0(M). Remuneration of key management personn¢l The remunemtion of key managernent personnel was as follows.. 10 Taxation The charity is exempt from tsxats'on on its activities b8cause all it5 incoma Is applied for charitable purposes. 11 Tangible flxed as¥gts Plant and oquipm•nt Cost At 1 August 2023 31,759 At 31 Juty 2024 31,759 Deprèciation and Impainnent At 1 August 2023 Depr&ciatson tharged in the yèar 15,172 10,480 At 31 July 2024 25,652 Carrying amount At 31 July 2024 6,107 At 31 Juty 2023 16.587 12 Debtor8 2024 2023 Amounts falling duo withln ono yèar= Other debtor5 5.754 3.200 13 Creditors= amounts falling due thin one year 2024 2023 Trade creditors Other creditors Accrua15 and deferred income 3.010 102 912 102 3.922 16-
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WELCOME HOUSE CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 15 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditlons by donors and grantors as lo how they may be used. These indude designated ftjnds which have been sel aside out of unreslriclod funds by the trustees for specific purposes. At 1 August 2023 Incoming resources Resources expended Transfers At 31 July 2024 Genersl funds 23,814 80,772 128,6111 11481 75,827 Previous year.. At 1 August 2022 Incoming resources Resources expended Transfers At 31 July 2023 General funds 33,929 32.686 142.802} 23.813 16 Analysls of net assets behveen funds Unrestr5ctad funds 2024 Restricted funds 2024 Total 2024 At 31 July 2024: Tangible assets Current asselsllliabilitiesl 6,107 69,720 6,107 144,003 74,283 75,827 74,283 150,110 Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 31 July 2023- Tangible assets Current assetsllliabililiesl 16.587 7,226 16,587 26,639 19,413 23,813 19,413 43,226 17 Related party transactions Transactions with related partles During the year the charity entered into the following transactions with related parties.. There were no related paty transactions in 2312412022123- none}.