OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Registered Charity Number 1193748

VICTORY HOMES LIVERPOOL

REPORT AND ACCOUNTS FOR THE YEAR ENDED

31 MARCH 2022

VICTORY HOMES LIVERPOOL Reports and accounts

Contents

Page
Trustees’ Report 3
Statement of Directors’/Trustees’ Responsibilities 5
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the accounts 10

2 | P a g e

VICTORY HOMES LIVERPOOL The report of the Trustees for the year ended 31 March 2022

Introduction

The trustees present their annual report and financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011, and the 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 2015).

The board of trustees are satisfied with the performance of the charity during the year and the position at 31 March 2022 and consider that the charity is in a strong position to continue its activities during the coming year, and the charity’s assets are adequate to fulfil its obligations.

Purpose and Activities of the Charity

Objectives

  1. For the public benefit the promotion of recovery and rehabilitation of people living in Liverpool, Merseyside and the surrounding area from drug and alcohol addictions, through the provision of advice information and support in such ways as the Trustees think fit to help them integrate back into their families, communities and society as a whole.

2. To advance the Christian faith for the benefit of the public in accordance with the statements of beliefs appearing in the schedule hereto attached.

Achievements and performances

During the period of March 2021 to 2022, Victory Homes Liverpool has engaged with over 245 men in their faith-based sober living environment. Of those 245 a number left before completion either to return to their original place of residence, to other housing facilities, whilst others remained local and engaged in the local church. Out of the 245, 19 of them graduated.

Of those that graduated some moved back to live with or stay close to family, some others started their own businesses, while the majority remained volunteering in their local church.

Over this period Victory Homes Liverpool has worked and partnered with a number of organisations. These organisations include: Salvation Army in St. Helens Crossing Point Green Pastures Walk Ministries Billy Graham Association Men’s Accommodation & Support Victory UK Wales Teen Challenge UK Proclaim Trust Message Trust Liverpool Homeless football Rapid Relief Team

3 | P a g e

VICTORY HOMES LIVERPOOL The report of the Trustees for the year ended 31 March 2022

The residents of the facility work together to deliver a weekly church meeting where members of their families have joined in via zoom and in-person attendance has seen over 40 other members of the public attend. This has enabled many or the residents to identify and develop hidden gifts and talents and develop them. This includes sound and media technical skills, hosting, barista training, teaching, preaching, singing and playing musical instruments. Most importantly is the personal development in both confidence and desire to become a productive member in society. Alongside these personal skills have been the reconciliation and restoration of families.

Other events they have volunteered at and attend have included:

Training is another vital part to those we engage with. Due to COVID it was challenging to deliver a full programme of options. What was facilitated is listed below:

A number of those beneficiaries that have accessed Victory Homes have continued on and gone on to other cities and countries as missionaries, where some have gone for further training.

Plans for the future

For the next year Victory Homes will continue with the delivery of what has taken place in the past year, with added training opportunities for more people. In the summer of 2022, we will be sending one young person to South Africa for training, and another young man is due to fly out to speak at a young adults conference, and will then stay on for a further six weeks of training.

Financial Review

Policies on reserves

Adequate reserves are maintained to fund the charity’s activities for at least three months forward.

Availability and adequacy of assets of the funds

The board of Trustee is satisfied that the charity assets in each fund are available and adequate to fulfil its obligations I respect of reach fund.

4 | P a g e

VICTORY HOMES LIVERPOOL

The report of the Trustees for the year ended 31 March 2022

Transactions and Financial position

The charity’s income in the year was £29,261 after expenditure of £21,181 a surplus of £8,080 is reported. General liquid reserves carried forward amounted to £8,080.

Reference and administrative details

Date of formation: as Registered Charity 9 March 2021 The principal office is: 122 Sheil Road, Liverpool L6 7UA Charity registration number: 1193748 Contact telephone number is: 07596406763

Trustees

Mark Muir Penman Chair (appointed 09 March 2020) Adrian Robert Devers Trustee (appointed 25 November 2020) Naomi Williams Trustee (appointed 09 March 2020)

The day-to-day operations of the charity are governed by the Managers who are directly engaged in the activity of the charity. Operational and tactical decisions are made by this group.

The direction and strategy are discussed at a regular Trustees meeting.

Bankers

The Co-operative Bank

Structure, Governance and Management

Victory Homes Liverpool is a Charitable Incorporated Organisation (CIO), registered with Charity Commission in England & Wales and governed by the local Board of Trustees.

New Trustees are appointed by the existing Board of Trustees on the basis of their expertise and involvement in furthering the mission and vision of the charity. The Board of Trustees have a variety of experience including Christian ministry and church administration, financial management, fundraising, education skills. The Board is accountable to the Charity Commission for the careful use of charitable and other public funds provided in a variety of forms, and for the achievement of appropriate performance standards in service delivery. The Board of Trustees meets at least quarterly to oversee the vision and strategies of the charity.

With the growth of activities of the charity an ever-increasing level of expertise is required on a day-to-day basis and an established management is in place that is capable of running the affairs of the Charity. The Charity's managers, listed on page 5, are in charge of the dayto-day management matters and are accountable to the trustees.

The Trustees remain committed to advancing the Christian faith, education in the areas of Christianity and recovery from drug addiction, prostitution and the relief of persons in need particularly through the provision of facility, counselling and support.

Independent Examiner

Malcolm Wright, Elpizo Limited, Chartered Accountants, 13 Village Road, Higher Bebington Wirral, CH63 8PP

5 | P a g e

The report of the Trustees for the year ended 31 March 2022

VICTORY HOMES LIVERPOOL

Statement of Trustees’ Responsibilities

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year. In preparing the financial statements, the trustees are required to:

 Select suitable accounting policies and then apply them consistently;

 observe the methods and principles in the Charities SORP;

 make judgements and estimates that are reasonable and prudent;

 state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

 prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

This report was approved by the board of Trustees on 24 October 2022

Trustee

6 | P a g e

VICTORY HOMES LIVERPOOL Independent Examiner’s Report to the Trustees of the Charity

Report of the Independent Examiners to the Trustees on the account of the Charity for the Year ended 31 March 2022

I report on the financial statement of the charity on page 8 to 13 for the year ended 31 March 2022.

Respective responsibilities of the Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of opinion and scope of work undertaken

My examination was carried out in accordance to general directions given by the charity commission. An examination includes a review of accounting records, kept by the charity and a comparison of accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts and seeks explanations from the Trustees concerning any such matters. The procedure undertaken does not provide all the evidence that would be required in an audit. Consequently, no opinion is given to whether the accounts present a true and fair view and report is limited to the matters set out in the statement below.

Independent Examiner’s Statement

In connection with examination, no matters have come to my attention;

  1. Which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

  4. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Malcolm Wright - Chartered Accountant Elpizo Limited, 13 Village Road, Higher Bebington, Wirral CH63 8PP

The date upon which my opinion is expressed is: 24 October 2022

7 | P a g e

VICTORY HOMES LIVERPOOL Statement of Financial Activities For the year ended 31 March 2022


Notes
Income
Donations and grants 2

Total Income

Expenditure
Expenditure on
charitable activities
3

Governance

Total expenditure

Net income
for the year

Gross transfer between funds

Net movement in funds

Reconciliation of funds:
Total funds brought forward

Total funds carried forward
 Unrestricted Restricted Total
Funds
Funds
Funds
2022
2022 2022
£
£
£
29,261
-
29,261
29,261
-
29,261
20,581
-
20,581
600
-
600
21,181
-
21,181
8,080
-
8,080
-
-
-___
8,080
-
8,080
0
-
0

8,080
-
8,080__

The net movement in funds to above in the net incoming resources as defined in the Statement of Recommendation Practice for Accounting and reporting issued by the Charity Commission for England and Wales and is reconciled to the total funds as shown in the Balance Sheet on page 9 as required by the said statement.

All activities derive from continuing operation

The notes on page 10 to 13 form an integral part of these accounts

8 | P a g e

VICTORY HOMES LIVERPOOL
Balance Sheet
As at 31 March 2022
Notes
Current Assets
Cash at the bank and in hand

Total current assets

Creditors: -
Amount due within one Year
8

Net current assets

Net assets
The funds of the charity
Unrestricted income funds
Unrestricted revenue accumulated funds
Total charity funds		 2022
£
£
8,380
8,380
(300)
8,080
8,080
8,080
8,080

Approved by the board of Trustees on 24 October 2022 and signed on their behalf by:

Trustee

The notes on page 10 to 13 form an integral part of these accounts

9 | P a g e

VICTORY HOMES LIVERPOOL Notes to the Accounts for the year ended 31 March 2022

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

Preparation of the accounts on a going concern basis

The financial statements are prepared on a going concern. The Charity is entirely dependent on continuing grant and donation support and as a consequence the going concern basis is also dependent on that continuing financial support.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of specified services is deferred until the criteria for income recognition are met.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the Year of receipt.

10 | P a g e

VICTORY HOMES LIVERPOOL Notes to the Accounts for the year ended 31 March 2022

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise the consists of commercial trading.

Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support costs

Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charitable activities. These costs have been allocated between costs of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note1.

Tangible fixed assets

Individual fixed assets costing £100 or more are capitalised as cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:

Plant, equipment, and motor vehicles

20%

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

11 | P a g e

VICTORY HOMES LIVERPOOL Notes to the Accounts for the year ended 31 March 2022

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimating reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value.

2 Income from donations and grants



Gifts and donations

Donated services - accountancy

Total income
 2022
£
28,961
300
29,261

The Trust benefits from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

3 Analysis of expenditure on charitable activities



Outreach and charitable activities

Total expenditure on charitable activities
 2022
£
20,581
20,581

4 Analysis of governance and support costs

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance cost, the remaining support costs together with the governance costs are allocated to charitable activities undertaken in the year.

Analysis of Analysis of support and governance costs
General support Governance Total Basis of
Function apportionment
£ £ £
Independent Examiner
-		 600 600 Governance
Total
 - 600
 600

12 | P a g e

VICTORY HOMES LIVERPOOL Notes to the Accounts for the year ended 31 March 2022

The key management personnel of the charity comprise the trustees and the managers.

5 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

6 Creditors: amounts falling due within one Year

Trade creditors and accruals
 2022
£
300
300

7 Contingent assets – legacy income

8 Analysis of charitable funds

Analysis of movements in unrestricted funds

The charity has only one unrestricted general fund. The movements in that fund are shown in the Statement of Financial Activities.

All of the net assets apply to the one unrestricted general fund.

9 Related parties

There are no transactions with related or connected parties to be reported in these accounts nor in the accounts of the previous year.

13 | P a g e