THE SANCTUARY ST THOMAS LANCASTER Annual Report and Accounts for Period Ending 31" December 2023 StThomas, Lancaster Housing Projects Registered Charity 1200112 StThomas Church, Marton Street, Lancaster LA11XX
Purposes of the Charity St Thomas, Lancaster Housing Projects is B registered charity. legully structure(J 09 a Charitable Incorporaled Orgjnisaiion ICIO Foundation), ond iegistorod wlth the Cttafily Commission for England and Wales on 18" August 2022. Our slated charilable objectives are 8s lollows: FOR THE PUBLIC BENEFIT. THE RELIEFOFTHOSE IN NEED BECAUSE OF FINANCIAL HARDSHIP OR OTHER OISADVANTAGE INCLUDING, BUT NOTEXCLUSIVELY, REFUGEES, VULNERABLE PEOPLEAND OTHERSAT RISKOF BECOMING HOMELESS IN LANCASTER ANDTHE SURROUNDING AREA. IN PARTICULAR BUT NOT LIMITEDTO PROVIDINGACCOMMODATION AND OTHERSUPPORT ANDASSISTANCE. Public Benefit The Charitycommission issues guidance on delivering public benefit. which in summary requires that our activities l. deliver benefits Ihat oulweigh any potential detrimental effects 2. benefit the public in general. or a sufficient section of the public. raihei than providing excessive personal benefit to indivittuats or organisations The Trustees have had regard to this guidance in managing the activities of the Charity and believe our activities meet these requirements. Specifically, our activities provide benefit to those who live in the 8re8 administered by Lancaster City Council. Our activities in the period from formation to the end of 2023 have been preparatory in nature, with all project efforts dedicated lo securing the purchase of a property from which to offerthe supported accommodation in ourstated objeciives. Unfortunately. we were unable to complete our original plan ol purchasing 23 Yealand Drive early in 2023, and at the end of 2023 were close to completion on an alternative property elsewhere in Lancaster. The vision and objectNes remain the same. and we expect to begin to delNei on these late in 2024 once the property puichase and refurbishment project have been completed.
Governance St Thomas, L8neaster Housing Projects is a reglglered charity, legally slruclured as 8 Charitable Incorporaled Organisation (CIO Foundation), and registered with the Charity Commission foi England énd Wales on 18" August 2022. Board of Trustees The constitution specifies there must be a minimum of three Trustees, but no maxlmum number. Trustees are appointed for a term ol three years, and can serve a maximum of three terms consecutively. but may be 8ppointed again after a break ol al least one year. All Trustee appointments must be approved by the PCC ol St Thomas Lancaster, and no Trustee receives reTnuneration. There are currently five Trustees. 811 of whom served from the formation of the CIO through to the end of the period of this report. Dr Philip Gager Mr Chris Gibbons Mr Robert Holdbrook Dr Robyn Remke Mrjohn Stephens Chair of Trustees Trustee Trustee Tiusiee Trustee and Treasurer Formal and informal Trusiee meetings are held frequently, 8nd at least monthly- either in person orvirtually. M¥nagement Commltt¢¢ In addition, a Management Committee has been fom8d. ostensibly to oversee the d8y- to-day running of the property and to supportthe host couple in their responsibilities. The committee reports to the Board ol Trustees. and members do noi receive remuneration. The initial composition of the committee was Mr Robert Peck Mrs Angela Letchford Mr Richard Eglese Mr Robert Holdbroc>k Mr Siffl L8ne-Dixon Mr john Stephens Chair Clergy Representative PCC Treasurer STLHP Trustee and PCC Representative Propety Maintenance Lead STLHP Treasurer and Trustee This Committee was disbanded in February 2023, when it became apparent that our planned purchase of the propertyat 23 Yealand Drive was unable to proce8d.11 has Since been re-instated with a number of changes now that the property at St Luke's Vicarage has been successfully purchased.
B8nklng and Flnan¢e Our main business bankingfacilily is wltli Nalional Weslmln8ler Bank, B8rrow-In-FurnegS branch at 113 Dalton Ro8d, 8arrow-in-Furness, Cumbri8. LA14 1 WY. Capit81 funding lor our activities has mainly been sourced through loans and gilty Irorn the members ol St Thomas Church Lancaster. and associated parties. Accovntlng and Audit For the period of Ihis report. audit 8nd accounting servlce8 have been provided by CWR Chartered Aeeountants Ltd M8nnin Way. Lancaster Business Park, Caton Road, Lancaster. LA13SW Legal During the period ol this report. legal setvices have been provided by the followlng in connection with the creation ol the CIO, the drawing-up of loan 8greemenls, and the conveyancingwork necessary for the purchase ol Ireehold property. Shakespeare Martineau LLP Watertront House. Waterfront Plaza. Nottingham. NG2 30Q Arnold Greenwood LLP Exchange Chambers. 8 & 10 Highgate, Kendal, Cumbria. LA9 4SX
Review of Activities The period from CIO formation through to December 2023, 88 covefed by IhS9 report, comprised two very dilferenl phases in our activitie8. Phas¢ 1 The charity was formed with ihe intention of purchasing the property 23 Yealand Drive In Lancaster from the current owners. who h8d already converted the property into an HMO and were successlully njnning it to provide accommodatlon for 8 nurnber of single residents- initially international Siudents. and latleriy relugees with leave to remain. The owners were due to relocate elsewhere in the UK, and wanted the church to be able to carry on the work of providing iefugee accommodation after their departure. As a result. a project team was formed in October 2021, and the CIO w89 lofmed in August 2022 as a vehicle through which to purchase and run the property. Commercial funding was sought an¢J offered. along with sever81 chufch members agreeing to support the purchase financially with gifts and loans. and legal v40rk was commenced io formalise the purchase. Unfortunately, in January 2023, when the commercial funding drawdown was requested, it became clear that the loan offer agreed in principle was going to be wilhdrawn by the bank. and as a result the purchase of 23 Yealand Drive became unachievable. Phose 2 After much prayer and discussion. the Trustees and the project team regrouped and agreed to continueto pursueihe project. Soon afterwards, we received substanlial ofler8 of financial support - loans and gifts - which allowed the Trustees to believe that an ouiright property purchase lof a different property) Might be possible. thereby avoiding the need to provide trading history to source commercial funding. Within a few weeks. we found that the Diocese of Blackburn were marketing the former St Luke's Vicarage in Skerton. Lancaster foi sale. as it was no longer needed for clergy accommodation. Whilst the property was un-rnodemised and in need of renovation, it was a suitable size and locaiion to be able to provide the kind of accommodatlon we intended to offer, and so initial enquiries were made ot the Diocesg with a view to purchasing the property. A purchase was agreed, andthe remainderof 2023wasspent pursuing legaland financial works to enable the completion of the purchase. and preparation for renovations to conven the propety into an HMO suitable for up to four guests in addition to 8 host couplelfamily. Asan addendum. the property purchasewascompleted on 22rfFebruary2024.
Financial Review Golng Concèrn Alter making appropriate enquiries, the board ol Trustees has 8 reasonable expeclallon that the CIO has adequate resources to continue operational existence for the lorseeablg future. For this reason, it has adopted the going concern basis in preparing the linanclal statements. Flnanclal Report The CIO'S accounts have been inspected by our 8ccountants CWR for approval by the board of Trustees at its meeting in October 2024 As noted in the review of activities above. the period from formation to December 2023 as covered within this report was spent in pre-op6ration81 activity. There was no'tr&ding' activity. and all financial transactions related to setup DI the CIO. the aborted purchase 0123 Yealand Drive and the preparations for the purchase of St Luke's Vicarage. We are grateful to God tor the generous donations ol the church members and other associated parties at St Thomas Lancaster, who have kindly given and lent substantial funds to enable the project to continue. Much of the init181 funding was received late in 2022, at which point we expected to purchase 23 Yealand Drive early in 2023. Some £20.000 in gifts and £130.000 in loans had been received at that point. Total expenses during 2022 of some £1 0.000 relate largely to legal and professional fees for the setup of the CIO1£5,0001 and expenditurts on the setup and ghort-term running of 23 Yealand Drive under a temporary agreement with the owners, prior to the purchase being aLsorted. Moving into 2023, despite the aborted purchase. almost all the lenders and donors agreed to continue iheir support for the project. As a result, our liquid funds remained In the bank ready for purchase of an alternative propety. Some further gifts1£4000 in totall were received during 2023 and only a small balance of expenditure1£12501 on the aborted 23 Yealand Drive property was needed. As a result, we closed 2023 with substantial funds in the bank. mainly as a result of loans from church members, ready to complete the purchase of St Luke's Vicarage early in 2024. The outlook for 2024 remains posltlV8 as we look to complete renovailons ot the propèty and welcome guests for the first time.
Reserves Pollcy As an interim arrangement. the Trustees have agreed to retain £5000 es a reserves fund to allow for emergency expenditure il required whilst the relurbishm8nt project is nderway. It is agreed that this policy will be reviewed once the property is actively hosting guests and generating income and expense more consistently. Investment Policy Any investments are agreed bythe Trustees. which has regard to the Charlty Commission guidance in relation to Charity investment policy. Risk Management The Trustees examine rhe major risks that the Charity laces and incorpofale these into the budgetingand financial planriing activities. Atthis stage of the charity's development, formal policies and risk mitigation systems have yet to be implemented but will be pur in place as the charity becomes financially operational. Trustee$ Re5ponslblllty In Rel•tlon to the Financial Statements Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements lor each financial year which give a true and fairviewof the Charity's financial activities during ihe year and of its financial position at the end of the year. In preparing those financial statements. the Trustees are required io.. Select suitable accounting policies and then apply them consistently Make judgments and estimates that are reasonable and prudent State whether applicable accounting standards and staiements of recomrnended practice have been followed, subject to any departure disclosed and explained in the financial statements: and Prepare the financial statements on the going concern basis unless it is inappropri8t8 to presume the Ch8ritywill continue in business The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at anytime the finaneial position of the Charity and enable them to ensure that the linancial statements comply with the Charitles Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irfegularities. The Trustee8 report was approved by the b08rd of Truste?s on 14tb October 2024 and signed on its behalf by.. Philip ager, Chair ol Trustees
IX)11 Tllk. ri.Hii)Ib i.NPl.l) JIST lTrb (-I-.IIBTrH 202J T&Nal 2023 2J,706 15.706 TOTAL INCOIIF. CTharithbkAdlVIt*s 11.7 420 410 TOTAL EIPF%DITLRE 11140 12.140 FT I%CO%IE FOR TIII." PERIODL%D 13,566 13.566 TOTAI. FI"NDS CIRRTED FoR'ARD AT 315T DLCkllBER IIIIJ 13.566 13.566
ST THOfvIAS, LANCAVFR IIOU.SING PROJEcrs BALANCTr. S11Tr-Tr'1' AS AT 31ST DECE%1BEK 2023 Note 2023 FIXFD A.SSF.T5 CURRFNT ASSF.TS Dcbior5 and Prepa>Th¢nts Cash ai Bank TOTAL CURR VYT ASSETS Joo 152.687 152.957 CURRE)T LIABILITIES Cr¢diiors 420 I'ET CURRENT ASSETS 152,567 TOTAL.4SSETS LESS CURRENT LIABILITIE5 152.567 AMOL'NTS FALLISC DUE AFtER hlORE THAI¥4 OliE YEAR Crediior5 139,001 NET ASSETS 13.566 FUNDS RtrIa¢d UnresiiKied 13,566 TOTAL FU%TIS 13.566 Approvtd by the B of Trustees 8nd $id ¢)n its behalf by: l&p ckk Eor 2oxLfr PILi Ch*1 (Tru51tt5 D•ie 10
ST TIIOMAS. LANCASTTr.R 11()II%IliCtr 1111().Ib.Cl'S liOTES TO TIITr. ACCOUNTS F()Ii I'I{L 1SF.11101) LNI)I:, I) JI.SI' I>Tr:CEMIIF.11202J ACC()LINTIJN C," POLICIE Ihsis olA¢¢ownling I'he finaneial 81CMentS have bten prepoT¢d uiider Ihe hisloriesl ro51 conveniion and hève been pr¢par¢d in accordan¢t 'Ith ihr Cliariiies A¢1 2011 and in Cotnpliance *iih Iht provlyions ofFRS1O2. The FinAnclal R¢porting Siandard applicable in the UK and ihe Republic of Ireland,. Ineorning resources Voluniary income is at¢ouni¢d for on receipt. R¢sour¢ts txpended Exp¢ndiiure is illclud¢d on an acrruals basi5. Costs of Charitsble Acliviiics and Govemante comprise primarily costs ari5in8 in ¢onneetion wilh fvlfilling the objteis find slalulory obligaiions of the Chariiy. ISOF INCOMING RFSO RCES Total 2023 volu1# Income tknnations 25.706 25.706 APIALYSIS OF RESO 'RCFS F.XPF.NDF.D harit•ble Activitie5 Heat, Li8ht, Rate5 and Water TelboThe Cleanin8 Legal and Professiortal Fees Other Expenses 3,901 301 288 5,370 1,860 11,720 0rtgndG 05ts A¢countsncy and Independeni Examin¢r5 Fee 420
ST THOIIAS. I.ANC..ISTF.R IioI'%i%r. PROJb.Cf8 OTL% TO TIIF. ACCOLNTS FOR THV. PF.RIOD F.%DKD 31ST DECE.IIBER 2023 ItOmllTrufdl 2023 PrtPa!Thents 3(X> 3(X) CIIKDIT Repalable ont )'tr A¢crv¥ls 420 420 CRLDiro R¢piNible after than ont y*r 139.(K)I LA TED PARTI. TILINSACTI No rrlared pty uafjsacU(f Ik place Én the lyr. 12
ST THOMAS. LAYCASTER IIOVSING VROJYCTS TLYDF.PENnV.JT FXAP+llYb.R'8 HF.roKT TO.8T TIIOMAS, LANCASTFR IIOUSING PRoJEcrs FOR THE PERIOD E,%DED JIST DECENIBER 202J I r¢w2 the i¢wunlS ofthe Si Th0 HfAsinBProJects fw tho wltsd eTrJtrl J1# Dee&7$I202s, whT¢h P48¢5 9 lo 12. RESPEcfivE RESPO%1 SIBILITIFS OFTHETRUSTEFS AND EXAMINER Th¢ ¢harity's trustee$ 8re resw151blc for Ih¢F¥epaMtKon ofthe et$. Thc 51151cc ¢onsBkr th•t •n audit not rtguirrd forthi$ r undersetlirffj 144121 of th¢ChwiiiE¥ Aa 201 I (the 101 l Art) it 15 my rtspmsibilityto: . examine th¢ 4¢¢0unts wdeT Sectim 14S of iht 2011 A - 10 followthe edre5 i¥Mldown in the 8w•I D1113 bythe Cb•rityComrniwion under 14J{5Xb}of the 2011 Ac4 - 10 stsiewhttherpArtulr Mattershllvr come tymyiueniirn. BASIS OF INDEPENDL%Y EXAMIIYER'S REPORT My eKamin81ion caT (xrtin tlte with th¢Gen Dire¢tioN 8ivM by th¢ ChrityG)mmtssioTh. An examination in¢llld¢s aTEMeW ofth¢ a¢JilgrcdS kept bythe drity Ind atthnwi50n ofth¢ accounts pr¢wi¢d wilh fh05e tt¢ords. 11 includu coThsideTaiion ofany unusual iic4Ns ordi$¢losuTe5 in rhe x¢ounrs and Seek7$ ¢xplanaiion5 from >ou TTUSt¢¢5 con#rnS any 5uth maller5. The prrtedures Undekert do not provioe ill the eviden£< th•E woukl be Tequired in an Juth'l tOn5¢qLwIIy no opinion is given #sto whcthcrihex¢ountyp$¢nI¥knmC d thettrKrt is limita 10 th05¢ matters w ooi in th¢ Sllem¢ni below. IP4DEPENDENT EXAMINER% sfATEMENT Sin¢¢tht8ross incom¢ for the ¢¢Ca5 the Ini Fyovidrd in 145131 of the ACQ J confum th•t l Im qualifitd tyfjct $ In&wdMt ExJmiDu undeTthe OrthSe¢t¢0n0ftheACt •nd that myqualifithtion 15 kn below. In conne£tion rny examination. no rnallcrh comcto myttrffj¢50n: which gives me rEawn•bk cajjse lo believethatin any mawiil resFeCt the requirtsnt4Jts: - 10 keep tsccountin8records in ac¢¢rdan(¢ with se¢tiM IYO of the 2011 Ad., - 10 prepare4ccounts whith xcordwih thc 8¢¢(wntingrecLKth aNiwnyly w the accoun1inirtquThn¥ of th¢ 2011 A¢ hDvc not È¢4n ro#: or b. io whirh. in my opinion.•tt¢niion $bld bEthwth in wderloeDDbk a m#dIng of the accounu w b¢trthtd. Phillip Denni50n ACA FCCA CWR 20 ManBin W LAn¢astcr Bu5in¢$5 Pw C4ton Road LANCASTER LAI 35W