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2023-04-04-accounts

Charity registration number 1189497

STEPHEN'S PLACE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 4 APRIL 2023

STEPHEN'S PLACE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms H E Rhodes Bsc. Hons Mr C Bain Mrs A Waite Charity number 1189497 Principal address 17 Beresford Road Southend on Sea Essex SS1 2TW Independent examiner TBL Accountants 457 Southchurch Road Southend on Sea Essex SS1 2PH

STEPHEN'S PLACE

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 13

STEPHEN'S PLACE

TRUSTEES' REPORT FOR THE YEAR ENDED 4 APRIL 2023

The trustees present their annual report and financial statements for the year ended 4 April 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objects are the relief of poverty, social exclusion, hardship and distress of those who are in conditions of need while promoting and facilitating integration into society.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The charity’s work continues in partnership with Green Pastures CBS Ltd, a Christian social enterprise and has further progressed as Green pastures have provided a third house to enable Stephen’s Place to increase the number of homeless they are able to house. The new house purchased by Green Pastures completed on 23[rd] December 2022 and increases our provision of places from 10 to 16. AS well as the partnership with Green Pastures, Stephen’s Place has been given the lease to a house which provides a further 4 bed spaces. This comes from a private owner of a house which we will use for the most complex needs and the Lease commenced on 18[th] December 2022. This gives us 20 bed spaces all together. We still benefit from the expertise of Green Pastures and their partners nationwide who also house the homeless. Stephen’s Place is also a partner of Green Pastures. The Licensed property had to be thoroughly refurbished as it was in need of a huge amount of repair. We were helped by the Community Investment Board, (CIB) who are appointed by Southend Council to distribute the money that is allocated to them for properties to house the homeless and help the community.

Since the beginning of the of the financial year commencing, April 5[th] 2022, the occupancy rate has been 95% and the charity has provided 5,412 available night spaces for 20 people from 10 people at the beginning of the year, totalling 5142 places taken.

At the beginning of the year, the charity employed 1 paid member of staff working 16 hours a week. In October 2022 we employed an additional full-time member of staff, working 40 hours a week and who is self-employed. We also employed another member of staff who worked 20 hours a week and was paid through PAYE and who concentrates fully on Admin. This was required due to the increase of paperwork as well as the new property that Green Pastures were in the process of purchasing. We also took on 4 volunteers who work a total of 40 hours per week. Further to this another charity, “Get the Kids Out” were paid by us as they provided mentoring and help with those of our residents who suffered from poor mental health including social anxiety.

We received £10,000 from SAVS, (Southend Voluntary Services) in May 2022 for core costs which was used mainly for staff wages. We received a grant in November 2022 which was to buy bikes for our 10 residents to help keep them active. The amount we received was £4,150 and was from the CIB, (Community Investment Board). We were also given a Grant of £13,104, which is for wages for a full-time member of staff to deal with support and care for out of hours care and emergency care for our most vulnerable residents. This payment will be received every 6 months for 2 years making a total grant of £52,416.

Our breakfast club for the community continues to flourish and is sustained with donations from those receiving the breakfasts and by others in the Community and from grants. At present we are giving a free /by donation full cooked English Breakfast every Tuesday morning and are serving the most vulnerable people in Southend.

We ran a fund-raising Curry and Quiz night on 2[nd] July 2022 from which we received £353.00. Another fund-raising event was on 22[nd] February 2022 from which we raised £263.88 and was to celebrate the Jubilee. Christmas 2022 we invited the community to a free Christmas lunch with all the trimmings. This was funded by donations of food and cash to cover the expenses. Over 100 enjoyed a traditional Christmas lunch.

STEPHEN'S PLACE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

Financial review

Incoming resources in the year have increased from £110,023 (2022) to £161,896 (2023) whilst expenditure has increased from 107,359 (2022) to £171,302 (2023). The increase in funding has been achieved mostly through the successful application of grant funding, external to the core funding for the housing of residents. The increase in expenditure relates to the acquisition and refurbishment of a third premises and the extension of support offered to residents. The charity made a deficit of £9,404 in the year compared to the surplus of £2,664 in 2022.

The charity has an established funding relationship with local authorities and an external support relationship with an established housing charity, Green Pastures. These relationships have allowed the charity to grow over the 2023 year and establish reasonable reserves, as discussed below. There is no indication that either relationship is likely to end within the next 12 months and so the Trustee consider the charity to represent a going concern.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Having experienced a period of rapid growth, the charity has made steps towards this level and will continue to do so.

The costs incurred in bringing the new properties to a suitable standard has lead to us taking two loans to support the unrestricted funds of the Charity thus ensuring that the Charity is not using restricted funds to support the Charity.

Structure, governance and management

The charity is a charitable incorporation organisation.

The trustees who served during the year and up to the date of signature of the financial statements were: Ms H E Rhodes Bsc. Hons

Mr C Bain

Mrs A Waite

Trustees are recruited from suitable volunteers, with due regard given to the skills knowledge and experience needed for effective administrations of the charity. All trustees, apart from the first trustees, must be appointed by a resolution passed at a properly convened meeting of the charity trustees.

The trustees' report was approved by the Board of Trustees.

.............................. Ms H E Rhodes Bsc. Hons

Trustee

Date: .............................................

STEPHEN'S PLACE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEPHEN'S PLACE

I report to the trustees on my examination of the financial statements of Stephen's Place (the charity) for the year ended 4 April 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

TBL Accountants

457 Southchurch Road Southend on Sea Essex SS1 2PH

Dated: .........................

STEPHEN'S PLACE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 4 APRIL 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
118,361
34,671
Charitable activities
4
8,866
-
Total income
127,227
34,671
Expenditure on:
Charitable activities
5
145,585
25,635
Other expenditure
10
82
-
Total expenditure
145,667
25,635
Net income/(expenditure)
(18,440)
9,036
Transfers between funds
(681)
681
Net movement in funds
7
(19,121)
9,717
Reconciliation of funds:
Fund balances at 5 April 2022
9,679
-
Fund balances at 4 April 2023
(9,442)
9,717		 Total
Unrestricted
funds
2023
2022
£
£
153,032
110,023
8,866
-
161,898
110,023
171,220
107,359
82
-
171,302
107,359
(9,404)
2,664
-
-
(9,404)
2,664
9,679
7,015
275
9,679		 Total
Unrestricted
funds
2023
2022
£
£
153,032
110,023
8,866
-
161,898
110,023
171,220
107,359
82
-
171,302
107,359
(9,404)
2,664
-
-
(9,404)
2,664
9,679
7,015
275
9,679
110,023
107,359
-
107,359
2,664
-
2,664
7,015
9,679

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

STEPHEN'S PLACE

BALANCE SHEET

AS AT 4 APRIL 2023

2023
Notes
£
Fixed assets
Tangible assets
12
Current assets
Debtors
13
68
Cash at bank and in hand
4,940
5,008
Creditors: amounts falling due within
one year
15
(13,317)
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets excluding pension liability
Net assets
The funds of the charity
Restricted income funds
17
Unrestricted funds		 £
10,789
(8,309)
2,480
(2,205)
275
275
9,717
(9,442)
275		 2022
£
1,206
8,753
9,959
(3,280)		 £
3,000
6,679
9,679
-
9,679
9,679
-
9,679
9,679

The financial statements were approved by the trustees on .........................

.............................. Ms H E Rhodes Bsc. Hons Trustee

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 4 APRIL 2023

1 Accounting policies

Charity information

Stephen's Place is an unincorporated charitable organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Enter depreciation rate via StatDB - cd99988 Plant and equipment 33% reducing balance Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’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 estimates 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
6,299
-
Grants receivable
112,062
34,671
118,361
34,671		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
6,299
7,723
-
146,733
102,300
-
153,032
110,023
-		 Total
2022
£
7,723
102,300
110,023

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 4 APRIL 2023

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Charitable income
Other income 8,866 -
5 Charitable activities
Charitable
expenditure
2023 2022
£ £
Staff costs 17,832 8,484
Depreciation and impairment 1,550 1,000
Charitable expenditure 101,448 76,490
Freelance labour 20,252 -
Premises repairs and renewals 3,300 -
Rates 185 -
144,567 85,974
Share of support costs (see note 6) 26,653 21,385
171,220 107,359
Analysis by fund
Unrestricted funds 145,585 107,359
Restricted funds 25,635 -
171,220 107,359

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

6 Support costs

Support
costs
Governance
costs
£
£
Repairs
535
-
Rates
5,012
-
Light & heat
7,710
-
Sundry
4,080
-
Insurance
1,615
-
Telephone
975
-
Subscriptions
1,407
-
Accountancy
2,639
-
Computer expenses
865
-
Motor running costs
1,815
-
26,653
-
Analysed between
Charitable activities
26,653
-
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2023
£
535
5,012
7,710
4,080
1,615
975
1,407
2,639
865
1,815
26,653
26,653
2023
£
1,550		 2022
£
5,839
4,797
3,336
1,632
1,048
652
1,607
1,298
347
829
21,385
21,385
2022
£
1,000

8 Trustees

A Trustee, H. Rhodes was paid a sum of £7,440 (2022 - £5,310) to provide administrative services to the charity. H. Rhodes also provided a short term cashflow loan to the charity of £5,250, which does not accrue any interest and is repayable on demand. At the year end date, this loan holds a balance of £5,000.

H Rhodes was also paid £1,110 (2022 - £490) in reimbursement of reasonable travel expenses incurred in her role as a trustee of the charity.

9 Employees

Employment costs 2023 2022
£ £
Wages and salaries 17,832 8,484

No employees received emoluments over £60,000 furthermore, no employee of the charity received total employee benefit of over £10,000.

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

9 Employees

(Continued)

All employees of the charity worked in a part time capacity. These part time employees represent the equivalent of a single full time employee.

There were no employees whose annual remuneration was more than £60,000.

10 Other expenditure

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Financing costs 82 -

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Leasehold
improvements
Plant and
equipment
Motor
vehicles
£
£
£
Cost
At 5 April 2022
-
-
4,000
Additions
7,370
1,969
-
At 4 April 2023
7,370
1,969
4,000
Depreciation and impairment
At 5 April 2022
-
-
1,000
Depreciation charged in the year
150
650
750
At 4 April 2023
150
650
1,750
Carrying amount
At 4 April 2023
7,220
1,319
2,250
At 4 April 2022
-
-
3,000
13
Debtors
2023
Amounts falling due within one year:
£
Other debtors
68		 Total
£
4,000
9,339
13,339
1,000
1,550
2,550
10,789
3,000
2022
£
1,206

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 4 APRIL 2023

14
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
15
Creditors: amounts falling due within one year
Notes
Bank loans
14
Other taxation and social security
Other creditors
Accruals and deferred income
16
Creditors: amounts falling due after more than one year
Notes
Bank loans
14		 2023
£
5,082
2,877
2,205
2023
£
2,877
974
6,180
3,286
13,317
2023
£
2,205		 2022
£
-
-
-
2022
£
-
-
2,280
1,000
3,280
2022
£
-

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 5 April Incoming Resources Transfers At 4 April
2022 resources expended 2023
£ £ £ £ £
- 34,671 (25,635) 681 9,717

STEPHEN'S PLACE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 4 APRIL 2023

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 5 April At 5 April Incoming Resources Transfers At 4 April
2022 resources expended 2023
£ £ £ £ £
General funds 9,679 127,227 (145,667) (681) (9,442)
Previous year: At 5 April Incoming Resources Transfers At 4 April
2021 resources expended 2022
£ £ £ £ £
General funds 7,015 110,023 (107,359) - 9,679
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 4 April 2023:
Tangible assets 9,470 1,319 10,789
Current assets/(liabilities) (16,707) 8,398 (8,309)
Long term liabilities (2,205) - (2,205)
(9,442) 9,717 275
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
At 4 April 2022:
Tangible assets 3,000 - 3,000
Current assets/(liabilities) 6,679 - 6,679
9,679 - 9,679

19 Analysis of net assets between funds

20 Related party transactions

During the period to 4th April 2023 the charity undertook transactions totaling £6,930 with a related party. Of this, £6,540 (£0 - 2022) related to gross payroll remuneration for a period of employment with the charity and £390 (£0 - 2022) related to ad hoc services offered outside of the period of employment.

Transactions undertaken with trustees have been noted separately on note 8.

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Helen Rhodes Bsc. Hons

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