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2024-03-31-accounts

KAIROS HOUSING

Report and Accounts Year ended 31st March 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

KAIROS HOUSING

LEGAL & ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 MARCH 2024

ADDRESS FOR CORRESPONDENCE ADDRESS FOR CORRESPONDENCE 42 KING STREET
BLACKBURN
BB2 2DT
GOVERNING DOCUMENT Constitution dated May 2022
Registered with Charity Commission 4th May 2022
CHARITY REGISTRATION NUMBER 1198820
TRUSTEES RESPONSIBLE FOR Hein Ten Cate
MANAGING THE CHARITY Anna Catharina Magdelena ten Cate
Deborah Smith
John East
Charles Gent (appointed 6th June 2023)
Ali Ordikhani (appointed 9th August 2024)
Emily Jones (resigned 12th November 2023)
Angela Shanks (resigned 9th February 2024)
Aftab Alexander Mughal (resigned 16th April 2024)
BANK CAF Bank
INDEPENDENT EXAMINER Lisa Darby FCA
Stewardship
1 Lamb's Passage
LONDON
EC1Y 8AB
INDEX
Page 1 Legal & Administrative Details
Pages 2 - 3 Trustees' Report
Page 4 Independent Examiner's Report
Page 5 Receipts and Payments Account
Page 6 Statement of Assets & Liabilities
Page 7 Notes to the Accounts

Page 1

KAIROS HOUSING

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 March 2024.

Objects of the charity

The charity is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal objects, as set out in its governing document, are to provide accommodation, practical and holistic support to asylum seekers, refugees and other migrants at risk of homelessness within Blackburn with Darwen and such other parts of the North West of England as the trustees may from time to time see fit. Kairos Housing does this to demonstrate the love of Jesus.

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity's main activities and achievements were as follows:

During the year ending March 2024, Kairos Housing continues to provide support to refugees and asylum seekers in four shared flats in Blackburn as well as a property in Darwen. The Support Worker as well as Project and Fundraising Manager continues to support our clients in a compassionate and collaborative manner. The relationships and links with the local council and churches as well as with ARC Blackburn and DARE continues to grow and strengthen. Kairos Housing also works closely with referral agencies and has developed a shared CMS system. New trustees have been appointed including a new Chair. Kairos Housing also now have a Reserves Policy. All the policies have also been ratified by the trustees.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Financial review

The charity raised income of £156,121 (2023: £48,892) and incurred expenditure of £113,225 (2023: £36,372) resulting in a surplus of funds at the year end of £42,896 (2023: £12,520). These funds are held in the bank account, £43,616 of which are restricted for purpose (2023: £12,451). During 2022-2023, the restricted Project Manager Fund created a loan for £12,000 to the General Fund to support the charities operational costs. This loan has been fully repaid during 2023-2024.

Page 2

Reserves policy

The trustees of Kairos Housing recognise the importance of a reserves policy to help demonstrate good stewardship and financial management and to manage its reputation. Our policy is to retain sufficient reserves:

The trustees have determined that the charity should aim to hold unrestricted cash of no less than £15,000 (which equates to about 3 months of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. We will aim to build up these reserves by setting aside £5,000 (April 2024) initially and adding to this £500 (May 2024 onwards) a month in a separate fund.

Our reserves policy relates only to the charity’s unrestricted funds. Restricted funds may be held in addition to be used for the restricted purpose for which they were given. Currently much of our funding is restricted due to funding bids being for specific needs.

The overall responsibility for this policy and its implementation rests with the trustees of Kairos Housing. In constructing this policy, the trustees have paid due consideration to the Charity Commission guidance on charities and reserves.

Risk statement

The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Responsibilities of trustees

Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.

We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

H. ten Cate

H. ten Cate (Nov 18, 2024 12:02 GMT)

_________ Hein Ten Cate (Chair)

Nov 18, 2024 Date:_____

Page 3

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

KAIROS HOUSING

I report to the trustees on my examination of the accounts of Kairos Housing ('the charity') for the year ending 31 March 2024 on pages 5 to 7 following.

Responsibilities and basis of report

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

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and 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

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in accordance with section 130 of the 2011 Act; or

  2. the accounts do not accord with the accounting records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Lisa Darby

Lisa Darby (Nov 25, 2024 14:10 GMT)

Lisa Darby FCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

Date: Nov 25, 2024

Page 4

KAIROS HOUSING

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Funds
General Designated Restricted
Funds Funds Funds 2024 2023
Notes £ £ £ £ £
Income receipts
Donations 20,290 - - 20,290 7,903
Other grants 55,145 - 66,070 121,215 37,739
Income from letting of facilities 14,513 - - 14,513 2,725
Interest Income 96 - - 96 25
Other 8 - - 8 500
90,051 - 66,070 156,121 48,892
Total receipts 90,051 - 66,070 156,121 48,892
Payments
Payments
in
relation
to
activities undertaken directly		 charitable 2 66,371 - 46,854 113,225 36,372
Total payments 66,371 - 46,854 113,225 36,372
Net of receipts / (payments) before 23,679 - 19,216 42,896 12,520
Transfers between funds 4 (11,949) - 11,949 - -
Net movement in funds 11,731 - 31,165 42,896 12,520
Cash funds as at last year end 69 - 12,451 12,520 -
Cash funds at this year end A 11,800 - 43,616 55,416 12,520

The notes on page 7 form part of these accounts.

Page 5

KAIROS HOUSING

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Notes
A Cash funds
Cash at bank with immediate access
Petty cash
B Other monetary assets
Gift aid due to charity
C Liabilities
Falling due within one year
Duplicate gift to be refunded
Fee for Independent Examination
Accrued expenses
Total
D Assets retained for charity's own use
Land and buildings (give brief details)
Computers and IT
Furniture		 General
Designated
funds
funds
£
£
11,700
-
100
-
11,800
-
2,547
-
2,547
-
-
-
1,320
-
352
-
1,672
-
Unrestricted Funds		 Restricted
funds
£
43,616
-
43,616
-
-
-
-
-
-
Fund to
which asset
belongs		 2024
£
55,316
100
55,416
2,547
2,547
-
1,320
352
1,672
Cost
£
-
1,285
865
2,150		 2023
£
12,520
-
12,520
-
-
500
840
1,172
2,512
Current
value
£
90,000
757
776
91,533

The property at 7 Snape Street was gifted to the Charity during the year.

Current asset values have been estimated by the trustees.

E Guarantees and secured debts

The charity has not given any guarantees and has not provided its assets as security for any liabilities.

The accounts were approved by the trustees and signed on their behalf by:

H. ten Cate

H. ten Cate (Nov 18, 2024 12:02 GMT)

_____Hein Ten Cate (Chair) Nov 18, 2024

Date:_____

The notes on page 7 form part of these accounts.

Page 6

KAIROS HOUSING

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

2
Payments in relation to charitable activities undertaken directly
Staff costs
Operation costs including administration
Rent
Maintenance of buildings & equipment
Utilities
Charitable donations to individuals in need
Independent examination
Drop in Provision expenses		 Unrestrict Designated
funds
£
-
-
-
-
-
-
-
-
-
ed Funds		 Restricted
Funds
£		 Total
2024
£
37,507
7,166
30,576
9,552
22,615
2,357
810
2,642
113,225		 Total
2023
£
General
funds
£
25
3,294
30,576
9,116
21,894
-
810
656		 37,481
3,872
-
436
721
2,357
-
1,986		 13,251
2,330
-
2,650
17,507
301
-
333
66,371 46,854 36,372

The accommodation use by the charity was donated by the landlord from April to July for this financial year.

3 Transactions with related parties

There were no transactions with related parties during the year

General funds
Restricted funds
Project Manager Fund (Anna Lancaster Grant)
Warm Meals Fund
Specific Donations Fund
Destitution Fund (Gay and Keith Talbot Trust)
Hub Of Hope (Restricted)
The BMT (3 yr funding) - Support Worker
Pebbles Grant (hoover, bedding, curtains) (Restricted)
People Postcode Lottery - Support Worker (Restricted)
Total funds		 Opening
balance
£
69
7,645
-
58
4,749
-
-
-
-		 Receipts
£
90,051
12,995
6,300
-
-
9,775
10,000
2,000
25,000
66,070
156,121		 Payments
£
(66,371)
(20,246)
(1,667)
-
(2,357)
(5,992)
(10,007)
(293)
(6,292)		 Transfers
£
(11,949)
12,000.00
-
(58)
-
-
7
-
-
11,948.57
-		 Closing
balance
£
11,800
12,394
4,633
-
2,392
3,783
-
1,707
18,708
12,451 (46,854) 43,616
12,520 (113,225) 55,416

The Project Manager Fund was created to track the expenditure of the grant received from the Lancaster Foundation to fund the new post. The Warm Meals Fund was created by a grant from the local council for the months January - March 2023 for the provision of hot food. The Specific Donations fund holds two donations received in this period relating to specific renovation and equipment purchase grants The Destitution Fund was created by a donation received during the year specifically for payments to destitute people in need. Hub Of Hope: Specific funding from the National Lottery for drop in costs and enrichment activities.

The BMT (3 yr funding) - Support Worker: Specific Funding from Brian Mercer Trust to put towards salary and associated employment costs for Support Worker. Pebbles Grant (hoover, bedding, curtains): Specific grant for hoovers and energy savings measures, e.g. blankets, bedding and warm curtains. People Postcode Lottery - Support Worker: Funding for salary for support worker.

Transfers during the year:

Restricted fund monies were transferred to General funds when expenditure was incurred there in relation to the purpose of the fund. General Fund monies have been transferred to Restricted Funds to cover any fund deficits.

The Project Manager Fund loan of £12,000 was created to subsidise the spend in General Fund during the first year of operations and was repaid during this year.

Page 7