Charity number.. 219031 HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
HAR8ORNE PARISH LANDS CHARITY CONTENTS Page Reference and admlnistrative details of the Charlty. its Trustees and advisers Trustees, report Trustees. responsibilities Statement Independent auditorfs report on the financlal statements Statement of financial activities 3-28 29 30-33 Balanc8 Sheet 35 Statement of cash flows Notes to the financial statements 37-58
HARBORNE PARISH LANDS CHARirY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 With effect from 13 June 2019 the 501e Trustee is the Harborne and Smelhwick Charrtable Trust (Registered Company Number 11217433 and Charity Number 1177527}. The Trustees and Directors of the Harborne and Smethwiek Chantable Trust at the dale this report was approved are". Trustees Mr A Boslan Iresigned 5 October 20231 Mrs B Cheliyawardana Cllr. Ragih Muflihi lappoinled 10 January 20241 Mr G Hewitt BA (Hon51 Mr D Jeffery, Chaiman Mrs P Leadbeler Mrs R Silber Mr V Silvesler MBE Mr N Thompson Mr F Wayt Mr G A B Taylor lappointed 23 November 20231 HCA Registration Number A2993 Charity registered number 219031 Prlncipal office Hollingworth House 109 Court Oak Road Harborne Birmingham B179A4 Chief Executlve Mr S J Simpson BA {Honsl Crowe U.K. LLP Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Independent auditor Page 1
HARBORNE PARISH IANDS CHARITY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Bankers National Westminster Bank pl 4th Floor 2 Sl Philip's Place Bimiingham B3 2R8 Solicltors Anthony Collins 134 Edmund Street Bimiingham B3 2ES Tynda00d8 29 Woodbourne Road Edgbaston B178BY Higgs and Sons 3 Walerfronl Business Park Brierley Hill Wesl Midlands DY51LX Surveyors Commercial Portfolio Cottons Chartered Surveyors Cavendish House 3591361 Hagley Road Edgbaslon B17 8DL Residential Portfolio Robert Powell Chartered Surveyors 7 Church Road Edgbaslon Bimiingham B15 3SH Investment advisors Evelyn Partners 3rd Floor 9 Colmore Row Bimiingham 83 2BJ Intemal auditors Valtdera Unil 3 Cromplon Court Attwood Road 8urnN¥ood Staffordshire WS7 3GG Page 2
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 Foreword by David Jeffery Chair of the Board of Trustees This lime last year I was reflecting on a year of great political turmoil- the last twelve months were a little calmer although we now have a new government. and Il remains to be seen what impact their policies will have on our sector. Next year is a very unknown quanlrty wrth the change of President in the United Slates of America - hi5 impact on the World Order threatens to be seismic. How this will impact on Lts nobody knowsl The past year has, nonetheles5, thrown up the usual frustrating and unexpected issues and problems that divert attention, time and skills and cre*e extra pressure on our staff Many of these seem lo stem from the ever- increasing computerisalion and bureaucracy employed by the major inslilutions with whom we deal daily whether that be banks, local authorities or service providers. l am constantly amazed at the lime and effort that has lo be expended on relatively trivial issues. Al the time of writing, we have been joined by 2 new members of staff - an Activllies and Wellbeing Officer who is bijsy getting lo know our residents al all 5 locations and, in the last week. a new Hous-lng Officer lo assist Carolyn Amold Head of Operations team. We are blessed wlh a very committed and well qualified staff We meet them all regularly aftei the 5 Annual Board Meetings This report is also an annual opportunity lo say thank you lo them for their hard work and eongralulale them on their dedication and loyaMy lo the Charity. Steven Simpson, the Chiel Executive continues lo anticipate problems and prepare for them befo they arise. I hope that dunng the coming year he will be able to devote more of his lime lo strategy, and, with the extra staff. spend less of It on issues "beneath his pay grade.. We are fortunate that he has great networkin9 skills and a wealth ol experience in our sector. We remain 2 Trustees short of the dozen. Dunn9 the year we welcomed Adrian Taylor as a new co-opted Trustee, as a previous Investment Manager lo the Charity his skills and knowledge are very welcome. We awart Sandwell anLY Birmingham City nominating one each. The 10 of us are all com-milled lo the Charity and have a range of skills and experience. Attendance at meetings is good and we also lake part in other activities training. grant visits, coffee mornings and other social events. There follows in this report a detailed analysis of all of our activities Including reports from the 4 committees that deal with Activities & Almshouses. Finance. Property, Charitable Thefe are a few key issues that arise from Ihem".- Grants- we are concerned that those in need, who would qualfy for our financial help, are nol being referd to us. Last year we had a budget underspend on individual grants - a re-duction of £25,431 over the previous year and of 101 actual Individuals. However, we know that the need is there and increasing. We are looking al allernalive ways of contacting those who need our help. Sadly, many of the agencies who used lo make referrals no longer exist. Almshouses we have been able lo renew our programme of improvements lo our eslale which was effectively halted by the pandemic, to continue lo provide an enhanced service that goes above and beyond that of standard sheltered accommodation. Property- we have now completed the purchase of 2 new residential investment properties. Financo the position with our investment portfolio remains volatile and will continue lo be. with the political situation both nationally and. more particularly, internationally We spent a lot of time in the last year discussing ethical investment and our views are reflected in the man-agement of our porttolio. Complaints - the new Complaints Procedure is fully implemented and the one complaint re-ceived dealt with in a timely manner- with appropriate measures having been taken Page 3
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEOI FOR THE YEAR ENDED 30 JUNE 2024 IT- we lost the services of Martin Bird during this last year- he had been a brilliant adviser for us in dealing with all our IT issues. Vve have now secured the services of Technical Drive. a local company and with their help we have recently upgraded all of our IT Systems and in-vested in new kil which everyone involved has been trained lo use. l am pleased lo be able to close by reporting that all ol the Trustees and staff are now talking about how the Charity will develop over the coming years rather than constantly worrying about the presentl Thank you again lo all our staff and lo my fellow Trustees Thompson and Frank Wayt, who chair the committees Davld Jeffery Chairman particularly lo Rachel Silber, Vic Silvesler, Nigel Page 4
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 1.0 Objectives and activlties The origsns of Ihe charity are so ancient as to be obscured by the mists of time. bul il was mentioned in d(tumenl dated 1640 and may dale from a bequest by Mrs Elizabeth Cowper (alias Piddockl in 1576 Today the chanty owns various investments together with five almshouse properties which were part-funded by the then Housing Corporation. The area of benefit is the Ancient Parish of Harborne, now in the County of West Midlands and the beneficiartes are the almspeople and those in need within the parish. 1.1 Objectives The Harborne Parish lands Charty has primary objectives". To lIeVe need through the provision of almshoLtses lo people who cannot meet their own housing need In the ancient pansh", and To relieve need through the provision of grants lo individuals and organisalions that support those in need. The area of benefit consists of the 12 parishes, which together make up the Ancient Parish of Harborne. These are.. Sl Boniface Quinton Road Wesl (Birminghaml Sl Faith and Sl Lauren IHarbornel Sl John (Harbornel Sl Peter IHarbomel Sl Albans ISmelhwrck} Sl Chad Ismethwickl Sl Mary Ismelhwickl Sl Matthew Ismelhwickl Sl Michael and All Angels ISmelhwick} Si Stephens Ismelhwtckl Sl Paul Ismethwickl Old Church Ismelhwickl This geographKal area comprises most of Harborne and some of Quinton in the City of Birmingham as well as most of Smelhwick and a small part of Bearwood in Sandwell Melropolilan Borough Council. 1.2 Activities and Structure To achieve these objectives the charity currently employs a team of 12 people. The Trustees have appointed a Chief Executive to run the charity. They in turn are supported by a Head of Operations who is responsible for the delivering the ¢harily's day-to-day charitable activity and a Finance Manager who managers the charity's finance team. The charity is about lo recruit a Head of Central Services who will manage the chartty's back-ol-offi support including the Finance Team. The charity delivers support lo those in need throLtgh three approaches.. 2} 31 The provision of high quality sheltered almshouse accommodation A programme of grants lo organisalions A programme of grants lo individuals Almshouses The charity operates 99 almshouses in five schemes lo provide accommdalion lo those who cannot meet their own housing needs. Each almshouse is a self-contained one bedroom lor in one case two bedroom) flat or cottage in a sheltered housing scheme. All schemes have communal controlled entrances lo ensure our residents feel safe and secure and pull cord systems lo help with moments of crisis. Page 5
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 The almshouses are the responsibility of the Head of Operations. who is supported by a Policy and Infor-mation Officer and Senior Building Manager. Each scheme then has a 8uilding Manager who is responsible for prcividing the intensive housing management service al that scheme. The charity also employs a Support Officer lo help our almshouse residents live independently for longer and an Activities and Wellbeing Officer lo provide a programme of stimulating activities and trips that increase our residents. quality of life. Two of the larger schemes also have a cleaner who supports the Building Managers lo keep these schemes clean. tidy and safe. Grants lo Or anisations The charity supports people in need in the Ancient Parish by providing a programme of grants to organisa-lions. The charity sets an annual grant strategy by reviewing the needs in the Ancient Parish through primary data where available and through local economic and social plans. Organisalions are then invited lo apply for grants in one of 4 or 5 target areas such as Child poverty, debt management, food and household goods dis-tribution, older people living in social isolation or younger people al risk of becoming NEET (Not in Employ-ment, Education or Training) Grant applications are assessed in rounds each year and applicant organisa-tions are asked lo detail the group they wish to work with. the outcomes they are expecting lo achieve and why this is to the benefit of the public a5 a whole. After e1ve months lor 500ner rf the project is shorter) the charity conducts a post grant monitonng exercise lo ensure the money was spent on the slated purpose and the expected resLJlls were achieved. The charity aims lo use grant funding lo organisations lo address long-lem S¢xielal issue that cause or result from poverty in the ancient pansh ol Harborne. Grants lo Individuals Finally. the charity runs an individual grants programme for those in Immediate poverty and cnsis Referrals lor this service predominantly come through third party agencies eng2ged wrth individuals such as heaf(h workers family support workers and hoijsing officers. Individual grants will not normally exceed £800 per household and could be for a diverse range of items that relieve need and cannot be easily fvnded elsewhere. Examples include the purchase of white goods or essential fumiture. The grants programmes are the responsibility of the Head of Operations. The charity employs a Grants Officer lo manage monitor grants lo organisations and deliver our individual grants programme. The charity aims lo use its individual grant pro9ramme lo address far rn0 acute and immediate, individuali$ed effects of poverty. Central Service5 These operations are supported by a central services team consisting of an Office AdmiTrislralor and Finance Officer who report lo the Head of Finance. These staff keep the charity's offi$ operating. ensuring that all ol the unseen, vital actions required lo support the delivery of the charrty's charitable objectives is completed such as ordering stationery, answering the telephones and making payments. emenl Personnel The organisalion's key management personnel ale.. Steven Slmpson. Chief Executive Steven joined the charity in January 2014 having previously worfted In senior national Foles with Remploy Ltd and the Jericho Foundation. Steven has an honours degree in history and is a member of the Chartered Iristi-tute of Housing. As Chief Executive Steven is responsible for working wrth the board lo sel the strategic di-rection ol the charity, realising this strategy as an operational plan and then ensuring Its delivery. Steven is also responsible for liaising with the charity's investment management partners lo deliver maximum returns from the charity's investment portfolio. Steven also works with the charity's IT provider, Technical Drwe, lo ensure the chanty's IT infrastructure is safe, rob(Jsl and functional. Carolyn Arnold, Housing Manager Carolyn joined the charity In 2007 and has served in a number of roles before being appointed Housing Man- ager in 2016 and later Head of Operations in 2023. Carolyn Is a member of the Chartered Insli(ule of Housing and holds a certificate in Housing Monagemenl Carolyn is also responsible for delivering the Charity's chari-table aclivrties. Carolyn manages the almshouses and grants teams. Page 6
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Glllian Rigby, Information and Policy Officer Gill joined the charrty In 2013. Gill has over 20 years of housing management experien and holds degree5 in Political Science and Housing Management. Gill is also a member of the Charted Institute of Housing. Gill rnanages the charity's data, Iranslales government policy and guidance in practical activities and writes the charity s policies and procedures. Tony Whitehouse, Senior Building Manager Tony has over 30 years of building trade experience included over 20 years spent maintaining HPLC proper-ties on behalf of one of the charity's conlraclors. Having joined the charity in 2012 Tony was appointed lo the posrtion ol Senior Building Manager in 2016. Tony 15 responsible for the technical aspect of managing the charity's housing stock including planned maintenance and project management of major refurbishment. Nick Wallace, Finanee Manager Nick joined the charf(y in May 2017 after the retirement of the Charity's previous Finance Manager Alan Porter. Nick has over 77 years of experience working wrth charities across the Wesl Midlands and is also the Finance Manager for the Birmingham based Jericho Foundation Nick is responsible for preparing financial reports, helping the Chief Executive. Senior Man2gemenl Tearn and Iruslees to analyse those report5, prepanng annu-al budgets, drafting financial rule5 and regulations and formulating financial policies. These key management personnel form a Senior Management Team ISMTI that leads the charity through the- malic responsibility lor the charity's objectives and support opeialions. They meet weekly to monitor financial and non-financial perfomance, legislative change5, policy direction, staff development, strategy, health and safety. ICT, data management and any other mattels arising. 1.3 Governance Governin Documents Under a scheme of the Charity Commissioners dated 16 November 1990 'The Harborne Parish Lands Charity" and 'Grice Memorial Homes are administered and managed as one charity under the name of "The Harbome Parish Lands Charity., subject lo, and in accordance with, the S¢hemes dated 21 May 1979 and 9 October 1986 The charity registration number Is 219031 and the HCA registration number is A2993. In June 2019 and a new charity was incorporated as. the Harborne and Smelhwick Chantable Trust Iregislration No. 11775271 which became the sole Iruslee of Harborne Parish Lands Charity. Trustees The charity's corporate trustee is the Harborne and Smelhwi¢k Charitable Trust INO. 11775271 Harbome and Smelhwick Charitable Trust has 12 Iruslee positions, fyvo of whom are nominated by Sandwell MBC and by the City of Birrningham under imported nomination rights from the Harborne Parish Lands Charity. Nomina-tive Iruslees serve for 8 lem of four years. The remaining eight trustees are co-opted onlo the board and serve for a five-year term. Co-opted Iruslees musl know the area of benefit through residence. employment. or another special knowledge. The TIu5tees have formed four committees to govern each aspect of the charitys activity. The Almshouse Commrtlee is fomied of the almoners Ilruslees who a appointed to be advocates for the benef Iciaries al each of our almshouse schemes} who monitor our almshouse performance as well as review-ing and approving new applicants lor housing. The Property Committee monitors the activities of the charity's appointed propety management firm5 and makes decisions about the strategic management of our invest-ment property portfolio. The Finance and Audrt Committee monitor the charity's management accounts. the performance of the charity's investment manager. our internal arrangements for value for money, weekly maintenance charges and ensure that the charity's resources are managed wisely The Charitable Activity Committee reviews the annual grants strategy, individual grant approvals and reviews post granl-moniloring reports. Each committee meets four limes eaeh year and the full Boaid of Trustees meet five times a year lo review the vrfork of the committees and make any non4evolved decisions. Page 7
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Induction Arran emenls The Chief Executive and Chairperson outline the responsibilities of Iruslees lo all new applieants at a one-to-one interview. During this interview they assess an applicant's eligibility lo serve as a trustee using the chari-ty's Internal declaration form and the Charity Commission's guidan on eligibilty lo serve. Once eligibility has been confirmed the trustees vote al the nexl board meeting as to whether lo accept or decline the nomination or submission. Once accepted the trustee 1$ presented wrth a copy of the Charity's policies and procedures, important contact information, the charity's business plan, schedule of meeting5 and the Charity Commis-sion's document'CC3 the Essential Trustee,. They are notified of the next full board meeting and invited to attend After their attendance al the nex1 board meeting trustees are offered a one-to-one session wrth either the Chairperson or the Chief Executive lo dis¢LJSS any questions they may have and lo tOLtr one or more of the charity's almshouses Trustees are encouraged lo think about which sub-committees they may wish lo join the following February nd Remuneolion Trustees of the Harborne Parish Lands Charity are not paid however they may claim expenses. The charlty has a documented policy for the claiming of Trustee's expenses detailing what may be claimed and what evidence is required to sub5tanliale a clairn The Trustees review pay and condrtions annually al the February meeting of the Finance and Audit Committee who then make recommendations lo the full board regarding ¢osl of living increases. pension contributions and additional benefits. The annual review of pay and conditions is applied equally lo all staff and is implemented the followin9 April. In 2024 the Trustees awarded a 4 /0 Cost of living increase lo the basic pay of all staff. All staff are paid more than the national living wage as defined by the Living Wage Foundation. The chafily has a documented pay scale. The pay scale details six key bands., staff, officer, senior officer. manager, head of department and executive. These bands correspond lo the level of management responsi- bility and aonIabIlItY each post holds. Each band has a pay level set in relation lo the other bands. Within each band there are four increments. Normally, all new staff a appointed on the lowest increment and progression lo the next increment lakes place al the discretion of the trustees in ieward for a rnember of staff either significantly increasing their skills level, or undertaking addrtional responsibililies that are still commen- 5urate wrth their banding. All eligible staff are enrolled in an aul¢Rnrolmenl Compliant pension scheme and the charity contributes 50A of staff earnings lo these schemes The charity also matches staff contributions up lo a further 50/0. The charity offers a number of additional benefits lo all staff including participation in a cycle2work scheme, salary-sacrifice car purchase scheme, BHSF healthcare cashback scheme. and a death in service insurance scheme. The charity provides competitive dealh in seNice and crrtical illness cover for all staff who have served continuously with the Charity for three months or more. Staff expenses are paid in arrears and on the production of evidence of expenditure. The charity has a policy for the payment of staff expenses. Two members of staff have a remuneration package that exceeds £60,000 including one member of staff whose total remuneration and benefits exceed £80.OQO. The total amount of money spent on senior staff in the yeaf IS £211,052 (£197, 764 in 20223). Partici ation in WKler Networks The charity is engaged in a variety of networks and subscribes lo a numbei of services and publications to support both strategic and operational decision-making. Trustees have access lo Personnel. Governance, Third Sector and Charity Finance magazines subscriptions while, HABM and Association of Chanlable Foundations IACFI publications are available at our Hollingworth House offices. The Senior Management Team have access lo Tips and Adwce Personnel. Tips and AdVe Health and Safely and Tips and Advice Environment. Page 8
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 To ensure up to dale Human Resource IHR} and Health and Safely IH&SI advi the charity contracts Cilalion Ltd. lo provide health and safety. audrt5. reports. advice and protection. This year's srte inspections were com- pleled on the 12th and 13th of September and the 1st October 2024. This year the charity was inspected by a new assessor who was very impressed with the charity s attitude to H&S slating in the reports that, 'Il was clear to see Ihal m8n8gemenl and staff are dgdioat&d to managing health and safely effec-tively in lin8 with cuftrenl legl?110n and best practe. Their ability lo do this is emphasised by the compliance Identified within this report." Nevertheless. the Inspection did idenlfy a number of areas for development including finally resolving the issue of Personal Efflergen¢y Evacualion Plans IPEEPS) by recommending that the charity complete PEEPS for all residents and recommending that the charrty water risk assessments are updated in 2024125. To ensure connectivity with best practiS across the grant-giwng sector the charity is 8 member of the West Midlands Funders Nefvlork IWMFNI and the Association of Charitable Foundations IACFI. WMFN is an organisation established lo provide an exchange of intelligence, inform*ion and best practice across all funding organisalions In the Wesl Midlands. In 2023124 staff from the charity attended sessions on.. Members, progiess on sustainability and tackling climate ¢hange Impact of the pandemic years, what have we learned? ONS Data & implications for funders and service priorities in the Wesl Midlands Participatory Grant MakinglPrin¢iples In Funding Approaches Four general roundlable discussions of Individual org8n15alions progress and challenges These meetings also provided excellent opportunities for networking. ACF is a national umbrella body for trusts and foundations that donatè money. goods or services ACF pub-lish a series of magazines and online bulletins that highlight trends and best practice within the sector The charity has made little use of 115 ACF subscription during 2023124 and will likely cancel rts subscrsplion in 2025. To ensure connections lo best practice across Ihe housing sector. the charrty is a member of the National Housing Federation INHFI and al a more local level, the Bim)ingham Social Housing Partnership IBSHPI and the West Midlands Small Housing Associations Benchm2rking Group IWMSHABGI which is run by Acuty. NHF is a membership org8nisation that represents the views of Its members to govemmenl to help shape pol-icy while also sharing best practi across rts members lo increase the quality of housing services In the UK. The charity has adopted the NHF code of conduct and using the NHF'S guide to service charges to prepare the annual increase lo the almshouse residents service charges. BSHP 1$ an organisalion that acts as an umbiella for all registered social landlords in Birmingham that aims to work together lo influence housing policy in the city. BSHP is Bimingham City Council's preferred conduit for the release of information WMSHABG comprises 14 local providers with less than 1,000 units of social housing and works together to compare perfom)ance data, share intelligence regarding Contractors, se¢lor trends and market conditions, reporting and where possible jointly procure goods or services. The charity is also a member of the Almshouse A$SlatIOn and is registered wlh the Regulator for Social Housing. All of the charity's housing stock is registered as supported exempl accommodation with Birming-ham City Council or Sandwell Metropolitan Borough Council depending on (t geographical location. Page 9
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 The charity lakes an active approach to managing risk. Key risks are idèntified, rated and mitigation strategies devised using the charity's risk register The Iruslees review the risk register twice a year. Financial risks are stres5 tested lo understand what level of financial management is required. what impact the risk will have and how severe the situation would have lo become before the risk could no longer be managed. On the risk register the likelihood of all risks is rated using a simple numeric scale where 1 is unlikely and 3 is probable. The impact of all risks is then assessed, again using a numeric scale where 1 is low impact and 3 is higt) impact Each number is multiplied by the other lo give a risk rating score bety¥een 1 and 9, where 1 is a risk of bw priority and 9 is a fundamental risk. All risks scoring 6 or more are reported below. In the 2023124 financial year, the primary risks to the charity have been. Almshouses WMC arrears Changes In rent regulations and the welfare benefits system Incurring subslanlial non-budgeted expendrture Lack of allendance al Iruslee meetings Loss of key members of staff Serious damage to property Ongoing UnrtaInty resulting from the Unrted Kingdom's decision lo leave the European Union These risks were presented on the risk register as follows". Risk Curront Control Nèw Mitigating Action$ Accountablo mshouses WMC arrears Regular monitoring and reporting Increase frequency of account monitoring from every month lo every weeks Chief Executive, Senior Management Team Support for residents lo Clairn benefits Fortnightly Support Officer surgeries with residents KPIS surrounding Collections arrears and bad debts monitored at senior management team and board level Targeted support session with residents in arrears Ask resident lo pay WMC one vleek in advance on sign up Establishe(J arrears control processes that govern communication wth residents in arrears and encourage payment plans to clear debts ere necessary take legal action to recover debts Page 10
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Changes lo the benefrts System impact WMC collection Liaison with Housing Benefit sections Nefvrking and keeping abreast of developments Make use of specialist advice where required Information and Policy Officer lo Irack policy changes in policy at local and national level Finance team lo undertake stress tests'ng lo assess the charity's ¢rilical decision points Long term loss of key members of staff Good terms and conditions which are regularly reviewed along with salaries. Use Cf(ation to ensure good practice in employment matters Use of agency staff to cover gaps and ensure continuity of service Oevelopmenl the Senior Management Team Use ol appraisals lo anticipate problems Develop suc¢e5sion strategy and 'people plans, as part of the 2025-30 business plan Increased number of social events and events that reward success. Greater ¢ommunicab'on between trustees and all staff at post board meeting IiJn¢he5 etc. Increased number of social events and events that reward success. Greater communication between trustees and all staff al posl-board meeting lunches etc. RegLJlar reviews ol pay and conditions lo ensu a reasonable and competitive response to the cost-of-living crisis Restructure of the management team to provide quicker. more devolved and more robust decision-making across the organisation and provide promotion opportunities for existing staff Page11
HARBORNE PARISH L4NDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Incurring substantial non-budgeled expenditure Completing regular stock ¢ondition surveys to assess and plan repairs and Improvements to the charity's eslale None- Risk unchanged since last year Housing Manager and Chief Executive Cornplete and work to a comprehensive business plan lo predict income and expenditure requirements years in advance Earmark funds for ERFICMF as a restricted reserve lo cash back long-lerrn capital projects Moniloi cost of long duration caprtal proje¢ts closely lo ensure completion within onginal eslimales Review all CMFIERF commitments during the budget process lo ensure estimates are accurate and in¢¢>rporale likely cost uplifts Lack tsf attendance at meetings Attendance monitoring reporting Careful planning of meeting calendar lo avoid known conflicts None- Risk unchanged Since last year All Trustees Serious Damage lo Property Insured risk limits reviewed None- Risk unchanged since last year Chief Executive and Finance Manager Regular property Inspections Review insurance arrangement after 2025 fenewal point Insurers notified ol new acquisitions before completion dale lo ensure immediate cover A55ume longer lead limes wth all imported components Disruption caused by the United Kingdom's exit from the European Union None- Risk un¢hanged since last year Chief Executive and SMT Manage Resident expectation regarding Tepair limes re(Jucing essential repairs to infrastnjclure components like lifts and warden call systems from 6 hours to 4 weeks In 2023124 the charity has downgraded many ol the Tisks that have previously SCOTed above 6 on the regislei. The long overdue replacement of the charity's data servers has reduced the rating of many of the charity's ICT risks while the extensive work of the charity's commercial property agent5 and the effective deployment of previous risk management plan5 has reduced the rating of the risks associated with the charity's historic leases. However, a more challenging economic environment has led lo an increase in the number of residents in ar- rears and the charity expect5 this Ind will increase over the winter of 2024125. As such this risk has increased in its rating and the chafty has developed new miligalion lo manage any situation that arises. Page 12
ARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 C¢)de of Governance The charity uses the National Housing Federation's Code of Governance. The Charity also measures itseff eve-ry two years against the Charity Commission Gocé Goveinance Code. The charrty Is registered with the Fundraising Regulator however, the charity did not undertake any fundraisin9 activities In 2023124 either direclty or through a 3rd party organisalion. The charity did not employ any profes- sional fundraisers and the charity has not received any complaints about rts fundraising aclivilies. In this con-texl the charity has not needed lo take any action lo protect vulnerable people however should fundraising become a priorrty in the future the charity will ensure rt has robust methods for proteding vulnerable people within the context of fundraising. Internal control The Trustees have overall responsibility for the chartys systems of internal control and the Finance and Audit Committee review the effectiveness of these systems annually through the charity's finance and audit committee. The charity's inlemal control systems are detailed in the chanly's financial rules and regulations and consist of". A clearly defined structure which delegates authority, responsibility and accountability for financial activity includin9 responsibility for internal control. A clear and effective process for budgeting and reporting, budgets and performance against them. are monitored through both the finance and audit committee and the lull board of Trustee's meetings. Investment evaluation process with clear performance benchmarks and Indi¢ators. RegLJlar nsk review processes that detail the area of risk and the steps the charity and Its Trustees have taken lo mrtigale those risks. The charity's appointed internal auditor. Validera, audits aspects ol the charity's internal controls annually. Thi5 year Validera completed an audit of the chanty's IT and data systems. The report asserted that the charity's procedures provided adequate assurance but noted". The charity was vulnerable lo the impact of the loss of key personnel. The charty's IT training had been delivered intemally in an ad-hoc way based on immediate need and should. in the future. be delivered in a more fomial and Strateg way. Public Benefit The Trustees of the Harborne Parish Lands Charrty ensure5 that all decisions are made in accordance with the ¢haritys purpose, are for public benefit, lake into consideration the Charity Commission's guidan on public benefit and are in accordance with the Chanly Commission's general framework for trustee decision making. The charty makes decisions in ways that manage risks or ham to the chanly and ts beneficiaries consistent with the purpose of the charity and makes decisions to ensure that. outside of the individual grant pro-gramme, no personal benefit is more than Incidental. The obvious exception is the charrtls individual grant programme of £45,025 which provided relief to people in povety and crisis In the Ancient Parish of Harborne. Whilst grant5 are for the individual's benefit, it meets the publi¢ benefrt crrteria as they are available lo the wider public meeting eligibility. Page 13
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 2.0 Achievements and P9rformanc 2.1 A Report from the Almshouses Committee Achievements and Perfomance The Almshouse Committee continue to provide gocKI quality accommodation lo 118 beneficiaries in the five schemes that we have". Harborne House, Harborne Dore House, Harbome Firs Close, Smelhwick Harborne Cottages, Smelhwick Larksfield. Smelhwick In the last yea¥ we have let 11 flats lo new applicants and still have 39 people on the waiting list The average length of lime from the application being approved lo an offer being made is 242 days or 35 weeks (An in-crease over last year's figure of 156 days or 22 weeks). From the lime a void becomes available we endeav-our lo re-lel it within 21 workin9 days, the re-lel lime is al present is 20 days. Current arrears are 0.86% 10.ooh lasl year} of annual charges against a largel figure of less than 2 50h. While arrears have Increase slightly il is pleasing that these increases are contained wrthin two accoLJnls and that on the whole arrears are still well managed. Void losses and bad debts are 0 71'kn against a largel of less than 40/0 10.6°/o last yearl. Void 105ses have in- creased in-line with the Increase in re-let limes and are indicative of the shortaoe ol availability of contractors rather than an inlemal process al the charty. 2023124 has been a very expensive year for the almshouses wrth a number of projects that had been delayed because of the COVID-19 pandemic and the cosl-of-living crisis being completed * the same lime. During the last financial year, the charity has spent £433,070 Improving the almshouses, an increase of 2770/0 of the pre- vious year. At Firs Close we have- Fitted new fire doors lo all fl8ls within the scheme Pointed. re-hipped and replaced ridge tiles on the ioof Fitted new flooring in the laundry room Refurbished the laundry room. and Replaced the canopy stanchions al the front entrance Al Dore HoL*se we have - Replaced all plastic cable fi'xings with more durable metal ones Renewed all fire compartmenlalizalion Fitted new CCTV cameras, and Painted and refurbished sheds Al Harbome House we have- Fitted new fire doors to all flat5 at the scheme Fitted new communal carpets throughout the scheme Replaced the suspended ceiling in the meter cupboards Replaced all plastic cable fixings with more durable metal ones Renewed all fire compartmenlalizalion Resurfaeed the car park, and Fitted a garden irrigation system Page 14
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Al Harborne Cottages we have- Decorated the communal lounge Decorated the laundry rooms Installed new healing in the laundry rooms Refurbished and decorated the windows across the scheme Fenced the nature garden. and Carried out an extensive program of roof Maintenan that included re-bedding ridges and hips as well as renovating the gables replacing any wom tiles At Larkfield we have- Fitted new fire doors to all flats Upgraded the communal healing. and Fitted a new. wider, rear entry door In addition to repairs impiovemenls and building works the charity also competed a self-assessmenl against the RSH'S April 2024 Consumer Standards and found that il was compliant in all areas The charity has made some minor changes to ils operating practices lo better accommodate the standards and has also estab-lished a process lo ensure that any are85 of future non-compliance are Self-ferred to the regulator in the line wlh the standards. In June 2024 the charity assessed ils complaints procedures against the Housing Ombudsman's new ¢om- plainls code The Charity complaints processes were adapted lo fit the new code and the Almshouses Com- mrttee appointed Pal Leadbeler as the board's complaints champion Pat will be meeting with the Head of Operations. Information and Policy Officer and Chief Executive regularly lo review Complaints performance. The charity has also re¢ruiled an Activities and Wellbeing Offir and Housing Officer which brings the Alms- houses team up lo full strength. Plans for the futur The Almshouse Committee continue lo make improvements lo the various schemes in Harborne and Smelhwick and have the following plans for the future.. Harborne House- Fil air conditioning in the communal lounge to create a safe 'cool space, that resi-dents can use as a refuge during heatwaves and extreme warm periods Refurbish 4 shower rooms Convert the communal bathroom into a multifunction space Hathrne Cottages - Upgrade external lighting throughout the scheme Repl?ce all wooden fife exit doors with new composite doors Fil air condrf(ioning in the communal lounge lo ¢reale a safe 'ccL)I space, that resi4enls can (tse as a refuge during heatwaves and extreme warm periods Firs Close- Install new glazing throughout the scheme Refurbish 2nd repla Infill pane15 in the communal eorridots Frt new blinds in communal asS Refurtjish the guest flat Fil new timer clocks lo healing systems Page 15
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Frt air conditioning in the communal lounge lo create a safe 'cool space, that resi-dents can use as a refuge during heaNvaves and extreme warm periods. Replace 1 washer and dryèr in the communal laundry room Dore House- Fil new fire doors throughout the scheme Assess stone work and carry out any subsequent repairs In addrtion the charty will compete five-year fixed mains lesling on all properties as well as develop plans lo move any property with an energy raling bebw 'C' to 'C' or above. Outside of the maintenance of the building the committee hopes that the newly 8ppoinled Activities and Well- being Officer will be able lo plan and deliver a diverse range of activities for residents and looks forward lo launching a new resident en9agemenl and voice strategy in 2024125 as well. 2.2 A Report from the Charitable Activity Committee Achievements and Performan In 2023124 the charity committed £325,182 to 6,053 beneficiaries This was significantly higher than originally budgeted however. upon discovering the second grant round was significantly over subscribed the Irvslees made an additional £50,000 available for organisational grants. Grants lolalling £286,803 were made lo organ- isalions split across the following grant priorities.. £132,728 was spent in 13 grants supporting services for oldei people. £53.626 was spent on 7 grants supporting 16-24-year-olds either NEET (Not in Education, Employ-ment or Training) or at risk of becoming NEET. £56.944 was spent in 4 grants on programmes that distributed food or household goods. £43,305 was spent in 4 gfanls supporting debt and money management services £41,864 was spent on the charity's individual grant programme". £17,526 supported 71 beneficiaries with 28 grants in Birmingham.. and £21,053 supported 79 beneficiaiies with 35 grants in Smethwiek. The four largest grants made by the ¢harily In 2023124 accounted for £84,4691260AI of the charity's grant spend and 2595142.fil ol the benefi'ciaries reached. These grants are detailed below.. Focus Birmingham Focus Birmingham requested a grant lo continue the work of the Communty Worker who covers the HPLC area. This worker carries out home assessments within 72 hours of a referral lo establish what help can be Offed, such as benefits assistan or enrolmenl onlo an eye conlaet Infomalion course. The Community Worker also runs weekly social groups in Harborne lor the visually impaired land those w((h dual sensory loss. where hearing is an issue tool, who attend Coffee mornings and enjoy a variety of activities such as singing. quizzes. gent exercise, as well as the opportunity for people with similar conditions to socialise with their peers. Page 16
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Smethwlck chUh Action Nelwork Ismethwick CANI Smelhwick CAN requested a grant lo help support the costs of a part-lime Food Action Worker and Food Action Co-ordinator These part-lime staff worked towards tackling the issues surrounding food poverty and the impact this has on peoples, lives Isuch as low self-esteem. social isolalionl rather than just dislrib-uling food packs. They further developed foodbank logistlC5. fundraising and partnerships, and the Smelhwick CAN Foodstore la self-esleem slep away from the foodbankl, where service users coming out of absolute povety are invrted lo pay a nominal cost for the food they take, and shop for their specific food needs. as opposed to simply taking a food pae1. The Food Action Worker also managed the Smelhwick CAN Grow community allolmenl scheme, encouraging service users lo grow their own food, b¢)osling health, wellbeing and social inclusion in the process. Asian Family Coun$elling Service IAFCSI They applied for a contribution towards the costs of providing the family. couple and individual counselling in the HPLC calchmenl area. AFCS employ Asian counsellors who understand the cultural and religious belief5 of service users. speak a number of community languages, and share a common ground. AFCS slate that the most common reason for counselling is anxielyldepressionlpanie allacks often linked to the stress ol poorly managed finances, ultimately having a negative impact on their service users, latiOnShips. Their usual refer- rals are made through GP surgeries. CAMHS and heah care agencies. They also diredly outreach lo local libraries. community cenlres and faith-based support nelwoiks. Qijlnborne Community Centre IQCCI QCC requested funding to continue to support their FriendshiplLuncheon Club. geared lo tackling loneliness and isolaliDn in the older population of the Quinton and Harborne area, particularly since the pandemic crisis passed. This will continue to be a gateway seNice for directing those older centre users who need support with dementia and associated problems towards QCC'S in-house support network who can then help service users towards outside slalutory and VSO support. For this round, this service is enhanced to include. a meals-on-wheels outreach (attached to the Luncheon Clubl. a lighvgenlle exercise programme, an IT/inlemel literacylawaieness group, a community eraft aclimlies club, plus a number of day Irips. Future Pkns In 2024125 the charity plans lo.. Spend £215,000 on grants to organisalions Spend £55,000 on grants lo individuals Increase the community involvement in the preparation of the grant strategy Develop a plan for future participatory grant making. 2.3 A Report from the Property Committee Achievernents and Performance 2023124 has been a more stable year for the commrttee. The charity's new property managers are now lully embedded and the transition has had a posi(ive impact on the property portfolio's financial performance. Income increased lo £590,443 (£543,443 in 2023) while costs have reduced by 28 /0 lo £239,710. Two major factors have led lo this cost reduction.. 1) 21 Work on long lemi voids has been completed. The initial wave of essential repairs identified by the new property managers have been completed. Voids and relels have been well handled wrth no long-temi voids during the period in que$lion. The charity has pressed ahead with the strategy lo purchase two new residential properties and while this was not aehieved in the 2023124 financial year at the lime of writing tsvo new properties have been acquired. The charity has made good progiess tacking the historic lease issues identifd by the new property managaers and at the end ol the year only two issues were outstanding. Page 17
HAR80RNE PARISH LANDS CHARITY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Future Plans Having completed a Ihree-year property 51rategy with acquisition of new properties the committee will now devise a new strategy that will likely inclucse the disposal of the charity'5 poorest performing residential prop- erties reaSIng funds for fLrture renovations. 2.4 A Report from the Finance and Audit Committ9& Achievements and Performance In February the committee reviewed the WMC rates paid by almshouses residents and the proposed in¢rea5e prepared by the charity management team. The committee recommended a policy that capped all resident's utility charge increase lo a maximum of £10.00 per week and recommended increase in the management and maintenance to charge lo the maximum permissible 7.70A. In the year the committee has received an internal audit report from the charity's inlemal audit firm Validera which examined ICT and data management al the charity. The report gave the charity an adequate assurance rating but hwhlighled the vulnerabilty of the ¢hanly lo the loss of key personnel involved in the rnanagemenl of ICT The committee noted the charrty would be migrating lo a new provider on the retirement of the chaiily's existing provider and that they would provide more redundancy although not necessarily as much fXibIlity. The committee has scrulinised the activities of the charity's investment managers including receiving 4 written quarterly reports and meeting with the charity's appointed inve51menl managers. Evelyn Partners, lce in Feb- ruary and September to discuss perfomiance and 51rategy. The committee has worked w((h the investment managers lo review the Charity's mandate, instructions and appetite lor risk. This activity resulted in the commrttee selecting a medium-ri5k strategy for Ihe investment portfolto wi(h the following objectives.. The creation of a sufficient financial return lo enable the Charity to carry out tts purposes effectively and wilhoul inlerruplion. The maintenance and enhancement of the investment funds over the long term. To obtain a reasonable balance befvleen capital growth and income so that the Charity can meet fu-ture as well as current need5. The Trustees. poliey is lo invest in an appropriate mix of real assels i.e. equities. fixed Interest securities. 81- lernalive assets and monetary assets. Trustees recognise that the returns on equities, while expected lo be greater over the longer term than those of fixed interest and monetary assets. are likely to be more volatile. Investment in a mix of asset classes should nevertheless provide the levels of return reqijired for the Trust lo achieve ils objectives, whilst miligaling volatility. On 30th June 2024 the charity's investment portfolio was worth £5,929.384 an increase of £760.727 from its June 2023 value of £5.168,656 on the back of a £250k cash injection into the portfolio, revaluation gains of £529k and management fees of £18k. Page 18
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 As al 30th June the portfolio was invested as follows.. UK Equities 0rse85 Equities North Arnerica 18.70% 48.60QA 1860° Europe (Excluding the U.K.I Japan Pacific Basin (Excluding Japan) Emergin9 Markets Global Bonds UK Go¥emmenl UK Index Linked UK Corporate Orseas AlleTnati Assets UK Property Cash 6.50° 310% 6.00% 12.60Q 17.70% 6.50% 1.90% 2.50% 6.900 670% 5.60% 2.70% In 2023124 the portfolio generated £193,459 a yield of 3.3%. Performan against benchmark is improving with annualised performance exceeding benchmark at the 3- month interval 12.80h against a benchmark of 1.7'kn1 and matching benchmark al 6 months 16.8/00. Perfor- mance than falls behind at 1 year113.6Qkn against a benchmark of 140/0) and 3 years13.10/o against a bench-mark of 4.3/0} Performance matches the benchmark when considering S-year timescales15.20AI and improves a little since the portfolio's inceplion18.5Yo against a benchmark figure of 8.2°kn1 Much of the underperformance al one- and the-year intervals has been driven by the charity'5 larger than average property and infrastructure holdings that were negatively impacted by the COVID-19 pandemic. More recently Competition from bonds has continued to drive property fund prices down by offering lower risk al- lernatives wrth good income prospects. In light of these developments the charity has reduced 115 alternative and UK propety allocations and in-creased its bonds holding which has driven more positive performance in the latter half of the year. Future Plans In 2024125 the committee is looking forward lo receiving internal audit reports on grant making and key finan-cial controls. The committee will continue lo monitor the performance of the eharity investment managers and wtll re1ve reports and strategy updates in September 2024 and February 2025. In February 2025 the charity will review the weekly maintenance charge proposal to ensure the eharily is bal- ancing the financial capabilrties of the residents against the long-lorm financial viability of the charity. Finally, the committee will work with charity's stsff team and legal professionals to finally complete the often stalled process of Incorporation ensuring that the charrty's registration with the Regulator for Sccial Housing is novaled to the new corporate trustees, TUPE transfers are made for exiling staff and finally requested a deed of united direction from the eharily commission. Page 19
HARBORNE PARISH L4NDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 2.5 Complaints The charity has completed ils firsl annual complaints report since adopting the Housing Ombudsman's new complaints slandafd and is pleased that in the period to 30th June 2024 there wa5 only one complaint about the eharity. This complaint was made by a resident's family member who was unhappy that they had lo remove items from a flat after the resident had passed away and felt that staff had been unsympathetic and unhelpful when dealing wlh the issue. On reviewing the complaint, the charity has identified that although the obligations regarding resident belong-ings are highlighted lo the Sident and their next-of-kin in the sign-up pack and licence agreement for clarity dedicated 'Belongings Left in Properties, policy has been developed. The ¢ommunications aspect of the complaint h85 been addressed by designating the Head of Operations the single point of contact in future si(uations such as this. The complaint was dealt with within the limes¢ales detailed in the charity's complaints policy. 3.0 Financial Review 3.1 Financial Position The Charity's Income The Charlty's Expenditure How the income was ent in 2023-24 Income receiLI 202>24 Financial Instment Income Income from Inslment Properties Housing A¢liMties Other £193,459 £590.389 £1,088,551 Grants Housing Actiiities Governance In4estmenl property rnanagement Financial InStment management £389.64 £1,420,603 £78,607 £529 £239.710 £31,726 £1,872,928 £2,160,287 Page 20
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Balance Sheet The Kolue of assets (less liabililiesl of the charity Is shovm below Housing Properties Land, fixtures & fillings Inleslments Islocks and sha) InKeslment properties 3.585.368 652.218 5.929,384 11,152,001 Subtot 21,318,972 CUnI assets less cuffent liabilities 1,506,557 Creditorg (due 0r more than one yea[} 3.796 N•t Asts 22,761,733 3.2 Commentary on the Accounts 2023124 has been a challenging year for the charity, and the fact that the challenges were all planned and budgeted for has made them no less challenging. The charity s income has increased significantly. up 12.560/0 from £1.663,970 in 2022123 to £1,872.928 in 2023124 however, costs have increase by an even larger 17.97°k lo £2,160.287 in 2023124 from £1.831,189 in 2022123. The charitls income has grown across the board and is reflective of inftalionary increases to management and maintenance, service and ulilty charges,. generally more positive financial market performance and the impact of new property managers in maximising Investment propety returns. The charity's expenditure increases are predominantly contained within the almshouses where many prqecls delayed by COVID-19 and the cost-of-living ¢risi5 have been completed but have also coincided w((h the in- stallion of new fire doors across the entire eslale This had led lo a £330,470 deficit in the charity s alms- houses operation in the year. While this is naturally concerning it should be noted that this deficit wa5 budgel*d and that the undertwng position of the almshouse5 service when exceptional costs are removed remains positive. Despite these planned challenges, increases in the value of the charills investment portfdio have led to an overall Improvement of the charty's total funds by £263,827. 3.3 Reserves 11 is the charty's policy lo hold 6 months, operating expenditure1£1,079,3531 and 12 months, maintenanee ex- pendilure1£221.8061 in reserve in the form of cash. As of 30th June 2024 the charity was holding £1,723,935 in cash and a lotsl of £7.653,319 in either cash or easily liquidated investments. The chaiily holds £221,806 of this cash and £221.806 of these easily liquidated investments as a designated planned maintenance fund. Page 21
HAR80RNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 While the charity's reserves policy and planned maintenance funds only calls for £1,301.159 of cash and a further £221,806 of easily liquidated investments the Iruslees are currently holding more in antieipalion of". Purchasing additional residential properties as detailed in the report from the property comm1ttee1£600.OOCII Provision for risks identified on the risk register, specrfically welfare reform and historic lease errors 1£200.0001 Taken together these provisions come to £2,322.965. In light of these f8etors the charity's cash reserve does not seem excessive yel In the very unlikely event that all provisions become ne$sary simultaneously the charrty will only need to liquidate £599.030 of easily liquidated investments. 4.0 Value for Mongy Value foi Money (VFMI is always 81 the forefront when managing the delivery of our charitable mission and objectives. For HPLC VFM 15 maximising our value to. enable our residents lo live Independently in an environment that improves their health and wellbeing. thus lessening the burden on Ihe NHS by reducing the need for GP and hospital visits and admissions lo eare homes. support our individual grant recipients through provision of necessities such as whilegoods and baby items. assist local organisalions in their attempts to improve the health. welfare and employment opportunities of the inhabitants of the ancient parish and help them re8ch their lull polenlial. 4.1 Arrangements to Ensure VFM VFM drives our strategic objectives of risk. assets, people and procurement AS such il runs through all as-pert of our strategic plans. Progre55 is rigorously monitored al comfnittee meetings and by the full board on a quarterly basis. The Finance & Audit Committee scrulinise all aspects of financial perfomance and ensures we have sound financial rules and regulations. Our returns on investment are benchmarked so that we can be certain that our stocks and shares are appropriate and performing well. Expendil(*re againsl budget for all aspe¢¢s of the charty is checked monthly by the Senior Management Team. The Pro ert Committee monitors the performan¢e of our non-social housing and investment propertie5 10 ensure a TheahY balance ol income and long-lemi growth. Investment returns are monitored year-on-year at property level to ensure the charity can dispose of any underperfoming assets and generate maximum re-turn5 on K(s portfolio. The Alm house Committee monitors void loss, arrears and repairs and maintenance in reIOn lo our fwe almshouses. We undertook our lalesl five-year stock condition sueY in 2019 and this has enabled the charity lo carry out maintenance and improvement works lo the almshouses In a planned and stralegic manner. it is now time lo update the stock condition suNey lo ensure the charity continues lo slay ahead of the game and that unforeseen repair costs do not creep up. We ¢onlinue lo lake a b81anced view of maintenance, realis-in9 the Importan of keeping our propertie5 at a high standard. so that they remain desirable and ensure low void rates, wrthoul carrying out work before il Is necessary. The almshouse committee also reviews large tendering activities to ensure that contract are compelilively len- dered and that the charty is getting the best quality for the money rt is spending. The charity is a member of the SPBM Benchmarking Group which assesses our perfom)ance against that of similar organisations and enables us lo share good Pfaclice. Page 22
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 The Charitable Activities Committ e oversees our programme of organisalional and individual grants to ensure we are adhering lo the charity's grants strategy, which outlines our key priorities for the year. These priorities are regularfy reviewed and altered over time according lo Klenlified patterns of need established from local resources such as ONS data and neighbourhood plans. Any applications made lo the charity are assessed against these priorities and only applications that demonslrale an abilty lo evidence these needs are funded. The committee will receive reports on the achievements each award made and compared the costs of each intervention against the number of beneficiaries it supported and the impact it achieved. 4.2 Benchmarking Ranking The charity has compared its performance against local housing charities that form the SPBM (Smaller Pro- viders Benchmarking) Benchmarking group. The charity has a eombinalion of mandatory metrics from the Regulator for Social Housing IRSHI and other metrics shared across this group to assess ils relative perfor- mance. The results of this coniparison are detailed in the table below showing how this year's performance compares to last year's, and giving a short narrative explanation of what the metric means and why the chari-ties performance is what il is. Finally, the charity has included ils rank out of the 14 SPBM members.. Page 23
HARBORNE PARISH LANDS CHARir TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 IAS by the Regty18tor for Soclal Houslng} SPBM Rank (Out DI 141 2019120 2070121 2021122 2022123 Ilarnitlve Explarbatlon The 10181 sorial houstho stodE managed by chadty has remaird unchanged sin 2017118. will a4)lY monitor the new govemment's hou$iry strategy and a8$ess wkÈiher the operalw ewronment becomes condury¥ 10 the gro¥Ah oflhe charily's housing stock Stock rnanaged 11 NIA The pentage ofincome lost lo voids ha5 incJeased slightly This Is re1Ve of Increasè in limes whiL Ilsem has been indicative of the number of ffa15 requinng wei rooffl bathroom conversions when void. Vohl losses {%) 0.36 0.49 0.48% 0.71% 2rKI A¥rage r&lel bme have increased In part berrtlU5e of the afflount of refijtbishmeni reqre0 la disprtsporbonate number of ltr ¥thd$weie smokers) and the numberofvoid 118ls Ihat had not alre8dy had wel room eonversKins. tbspiie Ihi5 inuease the (anty has Jvanod In the rankings and is rrow dass ading. Av. lime ofaN Iday51 17 18 18 20 11 11 11 Rent IWMCI collecied 88 8 percentage of charges due has increased sli9hUy. The figure indicates Ihai the chanty is rllecIlng more ienl than is dL. This indirates that lW re$hJenis gie paying Ihe IWC in advance Rent collected (% of charges duel I.29 99.37 95.8 100.8% 102.15% Cunpni lenanl arrear5 have Irueased a5 ieswYEn15 have. for various reasons. have fald to pay all charges due Both aci)J have payment plan$ In atr. Despite Ihi$ in(xease the tharity st1 has class leading 8ri88lS managerrenl. Current tenant ¥reats {%} 1.69 0.37 0.0% 0.86 O*rall operating maroin (%) IRSH1011 TIE charity's overall operatin9 margin has deuease¢ sionificanly. This Is refte&ive ollhe signthc£nl improvemern spènd the Charfty has mode Ihis yeaT. 2.89 63.13 -24.05 41.52% -30 36% Sih 11 Page 24
HARBORNE PARISH iANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Metrfc (As dfrfinod by th Regulator for Socl•l Hou$lThg1 SPBM Rank (Out of 2019120 2020121 2021122 2022123 2tr23124 Explanatlon So(Jal hsIr¥4 lettiws operatj rgin (%) The charivs SDcAal housing operating margin$ has decreased. This 15 refiectyve of the Increased reinvestment in the almshou8e$ and the cost of staff Ihal are not £arged lo residents as th8 Support Qffitsr. 0.46 -6.81 -9.27% -1S.26% 4th IRSH 1021 EBITDA MRI ia5a per(xntage of interest) The chanty's EBITDA MRI rating has decreased beSe ol the irtre35ed Improvemeni spend The charity maintains suffiaeni Iiouidily with reserves in ex$5 of £1.7 146 63% 41 87% 104 56% .28.93% NIA IRSH 1031 EIIIIR The charity is low geared. Th thatity Y6 payiny off rts one small loan slowly and the outstanding b&iance d&ue8se5 from year I year. Thp charity hès looked payiNJ the k)an off earty but demplion cosis make thi8 unecDnomic41. Gearing IRSH nd Scorecard measurel -39.16% 47% -57.04% .56.85% 46.29% NIA IRSH 2031 New supply ol soci81 housing uThls delivere as percents9e ol lotsl Soal housing un$ held 11111 Iiiii The charity has n¢1 de¥ek)ped any new sorjal unib this year. The chanty would like lo develop new sorAal hou&ng Ullrt5 bul reouiffts gre8ler cjanty regarding future welfare relorms before il can commil. The ranking Is establisd on lh8 basis ofhow ocenly units were added IRSH 2041 11 11 The chaty ha5 not ¢JdNered any nOral hou&no units in 2023124 However. the charity hJ5 rA)mpled iwo non-social sKlential purthases 8fterl1* year end an(1 will report those in this tatr in 2024125. The ranking is based on rnIty rew social rtS were added lo our porfolK). Our rankiThJ Shows Ir charity added units tPK)sl recenlly out of our peer5 New Supp delniefed (non- social houswvJ NIA NIA Reinvestment decressed 51ighlly and while thi$ may seem unlennlurtive given how much the Ghanly Sppnl improwng Ihe almshouses Dnly a smèll pertsnlage of iMseworks w&s cApitalised and shows up here. In addition. the charity has cleared any fully depreuaied assets from the fixed assel iegistsr which has alw hèd Ihe impath of lowering Ihls score. Reinbesthient 4.69 0.98 2.75 1.79% IRSH 3041 2n 11 Page 25
HARBORNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 Metr1¢ IAS definod by Iiiii, SPBAI Rank lo of tho Regul•tor lor So¢lal Housln91 2019120 2020121 2021122 2022123 2023 Narrnyve Explan•iio Reinvestrneni decreased sli9hUy and Whi Ihis may seem counleriNuiti¥e given how ffluch ihe tharily spent Impron9 the almshouses only a small pwcÈnlage of Ih05e 4vorks was capN81isett and stK)W5 up re. In addilion, the chanty has cleared any fully depreoaled èssels fiom the fixed 8ssel regisierwhich has also had Ihe impact of bwenw this score. Reinve$iTrenl 4.69 0.98 2.75 IRSH 3041 1.79% 2nd Capital Empbyed IROCEI % The reium on capital ernoYed Indelib linke(J lo thè performa of the eh8rity'5 investsnenls and the amovm the ttbaiity spends. 0.19% 4.12% 1.72% 2.9% -1.25% 4th IRSH 4011 The lol¥l headline cost per sotyal fvousirvJ unil has inueased Sniran1y. This is reflective of the incrÈ85ed amount of capital Spen and refurt>ishmeniS the ch8rity has ndertaken aswell as the 5i9nifitrAnl Increase in seN¢e rA)ntracts such as lift mainlenènce or IT The Charity's costs are often higher when compared lo other prowders caUSe of the addibonal cost we &prry lo support and prode 8ctiwlS lo our residents. These costs are not passed on lo FesKJenls and are H8 eligible meaning thai the chanty's WMC rem8N)s compeiitwe with the re51 of our seLbrwilh èn awage total Y4ÈÈkly charye of £216 07 might 8knosl describe ourselves as proud lo expensive here as we are ulilising the charity's n$ lo provide and Sn enhanced sewdce th81 goe$ 8bove and beyond thai of a standard sktmered a¢xomrTrodaiion prowder Headline soaal housing cost £10,146 £9.085 10.057 £11,440 13.663 4th IRSH 5011 5.0 Resident Satlsfaction In 2024 the charity carried out a Sident satisfaction survey based on the Tenant Pereeption Meas*Jres ITPMI released by the RSH in 2023. The survey was distributed lo all residents by hand. To encourage residents lo respond, all respondents were entered into a prize draw for £100. Out of 106 residents. 83 responded la re- sponse rate o178.31Tr/0l whh is considered excellent. The survey was conducted using a paper questionnaire with an electronic version made available upon request. Once resident details had been removed and entered into the draw the relums were analysed anonymously. The key questions covered lenanl satisfaction with overall services, repairs, safely, and resident engagement. Each queslion was rated on a s¢8le of 110 511 very dissatisfied, 5 = very salisfiedl. Following the guid-an of the Regulator of Social Housing. satisfaction was calculated by combining the '5s' (very satisfied) and the '4s' (fairly salisfiedl. The results We as follows.. Page 26
HARBORNE PARISH LANDS CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Satisfactlon Measure Sati*¢do n Scorg TP01.' OKerall Satisfaction wth SeTrice Pro¥ided TP02'. Satisfaction wth Repairs Tr03". Satisfaclitsn 1th time taken to complete most recent repair TP04'. Satisfaction that your home is well maintained TP05'. Satisfrdction that your home is safe Tr06." Satisfaction that the landlord listens to resident Mews and acts upon them. TP07 Satisfa¢lion that the laThJlord keeps resentS infmed about things that matter to them. TP08.. Agreement that the landlord treats residents fairfy and with respect TP09.' Satisfaction wlh HPLC'S approach to handling complaints TP10'. Satisfrdclion that HPLC keeps ¢omrnunal areas clean and well-mainlained. TP11". Satisfaction that HPLC makes a positiKe contribution to neighbourhood5 TP12.' Satisfaction wlh the landlord's approach to harTrdling anti-s(Kial behaiiour {%) 99% 96% 100% 95% 98% 100% 99% 85% 89% Areas residents are less satisfied with include the approach the charity takes lo antisocial behaviour and the time taken lo complete the most recent repairs. The charity has investigated and found that all repairs com-pleted in the 6 months preceding the issue of the questionnaire were completed within the timescales identi-fied in the charity's repairs poli¢y. however. clearfy the charity needs to work with SIdentS lo ensure the time-scales in the policy are reflective of resident aspirations and understood by residents. Residents are less confident that the charity makes a positive contribution lo nei9hbourhoods. It should be noted that at 85°h satisfied this area does not score particularly low in objective terms however, it merits spe-cial Irealmenl as the lowest sconng question. We believe that thè question was not well understood and that residents interpreted "neighbourhood. as the wider geo9raphical area rather than the community within the charity's control 11 is also possible that the charity's wider community initiatives such as the charity's grant programme or ils participation in West Midland Funder Netsvork was not well understood by residents The charity will publicise these activities over the next 12 months. However, overall feedback has been very postiive with residents particulady liking that they feel safe in their homes. the way the Charity handles complaints. the charity's repairs seNiee, the general cleanliness and lidi- ness of the schemes and the overall service provided by the charty We look loard lo next year where these results can be conlrasled with our peers and expect lo compare very favourably. It is clear from this fee(Iback that residents al HPLC properties live happy, safe and conlenled lives and while there is always room for improvement the iesulls refleet the hard work of the charity staff team. Disclosure of Infomiation to Audltors Each of the persons who are T¥uslees at the time when this Trustees, Report is approved has confirmed that.. so far as that the Trustees are aware. Ihefe is no relevant audrt infomialion of which the charitls auditor is unaware,. and the Trustees have taken all steps that they ought lo have taken to make themselves aware of any relevant audr( information and lo establish that the audiloi is aware of that information. Page 27
HAR80RNE PARISH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Audlto The auditors, Crowe UK LLP, have indicated their willingness to continue In office. The designated Trustees will propose a motion lo reappointing the audits al the meeting of the Trustees. Trustees. report, incorporating a strategic report, was approved by order of the Board of Trustees and signed on the board's behalf by". Mr Jeffe Chairman Date.. IZ, Page 28
HARBORNE PARISH LANDS CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2024 The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom A¢¢ounling Standards Iunited Kingdom Generally Accepted Accounting Praclicel. The law applicable lo Charities in England & Wales requires the Trustee5 to prepafft financial slalemenls for each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, Including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select surtable accounting policies and then apply them consistently.. observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent", stale whether applscable UK Accounting Standards IFRS 1021 have been followed, subject 10 8ny material departure5 disclosed and explained in the financial slatemenls, prepare the financial slalements on the going concern basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting CordS thal are sufficient lo show and explain the Charity's transactions and cjisclose with reasonable accuracy 81 any time the financial position of the Charity and enable them lo ensure that the financial slalemenls Comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the Trust deed. They are also responsible lor safeguardin9 the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. Approved by order of the members of the board of Trustees and signed on ils behalf by.. Mr D Jeffory Chairman Dale.. fv4• Page 29
HARBORNE PARISH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HARBORNE PARISH LANDS CHARITY Opinion We have audited the financial slatemen15 of Harborne Parish Lands Charity (the 'chariWI for the year ended 30 June 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice) The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their 3¢count5 in accordance with the Financial Reporting Standards applicable In the UK 8Trd Republic of Iland IFRS 1021 In preference lo the Accounting and Reporting by Charities. Slalement of Recommended Practice issued on 1 April 2005 which is referrely to in the exlanl regulations bul has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective lor reporting periods beginning on or after 1 January 2015 In our opinion the financial slalemenls". give 8 true and fair view of the slate of the charitys affairs as al 30 June 2024 and of rts incomin9 resource5 and application of resources for the year then ended., have been properly prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice," and have been prepared in accordance with the requirements of the Charrf(ies Act 2011. 8asi$ for opinion We ¢ondueled our audr( in accordance wrth International Standards on Auditing IUKI IISAS IUKII and applicable law Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the Iinancwl slalements in the United Kingdom, Including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basi5 for our opinion. Conclusions relating to going concem In aud((ing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation ol the financial slalemenls Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectivety. may cast significant doubl on the charrtls ability lo continue as a going concem for 8 period of al least twelve months from when the financial statemen15 are authorised for issue. Our responsibilrties and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Page 30
HARBORNE PARISH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HARBORNE PARISH LANDS CHARITY {CONTINUED) Other infomalion The other information comprises the information included in the Annual report other than the financial statements and our Audilorfs report thereon. The Trustees are responsible for the other infom)ation contained within the Annual report. Our opinion on the financial slalemenls does not cover the other information and. except to the extent othetwise explicitly staled in our report, we do not express any fonn of assurance conclusion Ihereon. Our responsibility is to read the other information and, in dong so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such maleTial inconsistencies or apparent material misslalements. we are required lo determine whether this gives rise lo a material misslalement in the financial statements themselves. If, based on the work we have performed, we conclude th81 there is a malenal misslatemenl of this other infomalion, we are required to report that fact. We have nothing lo report in this regar¢J. Matters on which wo are required to report by exceptlon We have nothing lo report in respect of the foll¢)wing matters where the Charities IAccounls and Reports) Regulations 2008 requires us to report lo you rf, in our opinion.. the infomiation given in the Trustees, report is inconsislenl in any malefial respect with the financial statements.. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and ielurns., or we have not received all the information and explanations we require foi our audit. Responsibiliti8s of trustees As explained more fulty in the Trustees, responsibilrties statement, the Trustees are responsible for the preparation of the financial slalemenls which give a true and fair view, and for such internal control as the Trustees detemine Is necessary lo enable the preparation of financial statements that ale free from material misstatement. whether due to fraud or error. In preparing the financial slalements, the Trustees are responsible for assessing the charity's ability to continue as a going concem. disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charrty or to ase operations, or have no realistic allemative bul lo do so. Page 31
HAR80RNE PARISH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HARBORNE PARISH LANDS CHARITY ICONTINUEDI Auditorfs responsibilities for the audit of the financial statemgnts We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial siatemenls as a whole are free from material misslalemenl, whether due to fraud or error, and lo Issue an Auditor's report that includes ovr opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee that an audit conducted in accordance wrth ISAS IUKI will always delecl a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material Il. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basi5 of these financial statements. Irregularities, including fraud. a instances of non-compliance wrth laws and regulations. We design procedures in line with our responsibilities, Outlined above, to tlelecl material misslalemenls in respect of irregularities. including fraud. The extent lo which our procedures are capable ol detecting irregularities, including fraud is detailed below". Obtsining and understanding of the gaI and regulatory frameworks that the Charity operates in. focusing on those laws and gUlationS that have a direct effect on the financial stalemenls., Enquiring of management and Trustees around known or suspected instances ol non-complian of laws and regulations and fraud", Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indications of fraud, Reviewing minutes of meetings of those charged with govemance., Reviewing Financial Slalemenl disclosures and testing to supporting documentslion lo assess compliance with applicable laws and gUlationS., and Performing audit work in latiOn lo the risk of management override, Including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias. Because of the inherent limitations of an audi(, there is a risk that we will not detect all irregularities. including those leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and Iransaclion5 reflected in the financial statements. as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities OCCLJrring due lo fraud rather than errol, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibiif(ies for the audit of the financial statements is located on the Financial Reporting Council's website at.. V.frc.o .uklaudilorsres onsibilrties. This description forms port of our Auditor's report Use ofour report This report is made So{Y lo the charity's trustees, as a body, in accordance wlh Part 4 of the Charities IA¢counls and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's Iruslees those matters we are required to slate lo them in an Audilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume re5ponsibilily to anyone other than the charity and ils trustees. as a body, for our audit work, for this report, or for the opinions we have fomied. Page 32
HARBORNE PARISH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HARBORNE PARISH LANDS CHARITY ICONTINUEDI Crowe U.K. LLP Statutory Audrtor Black Country House Rounds Green Road Olébury Wesl Midlands B69 2DG Date.. 19 December 2024 Crowe U.K. LLP are eligible lo act as auditors ITr lemis of section 1212 of the Companies Act 2006. Page 33
HARBORNE PARISH iANDS CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Unrestrided Endowment funds fund$ 2024 2024 Total funds 2024 Tolal funds 2023 Note Income and endowments from: charitab activities Investments Other income 1.088,551 783.848 529 1.088.551 783.848 529 956,530 707.079 367 Total income and endovrnents Expenditure on- Raising funds Charitable activities.. Housing activities Grants in relief in need Governan costs 1,872.928 1,872.928 1.663, 9T0 26.005 245,430 271.435 375,358 1,281,739 389,643 78,606 138,864 1,420,603 389,643 78,606 1,032,030 355,446 68.355 Total expendlture 1,775,993 384,294 2,160,287 1,831, 189 Net incomellexpenditurel before net gains on investments Nel gains on investments 96,93S 321,517 1384,294) 229,669 1287.3591 551.186 (167.219) 858. 162 Net movement in funds 418,452 1154,6251 263.827 690.943 Reconciliatlon ol funds- Total funds brought forward Net movernenl in funds 6,505,206 418,452 15.992.700 1154.6251 22,497.906 263,827 21,806,963 690,943 T¢)tal funds Carried for¥vard 6,923,658 15,838,07S 22,761,733 22,497.906 The Stslement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 37 10 58 fomi part of these financial slatemenls. Page 34
HARBORNE PARISH LANDS CHARITY BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Fixed assets Tangible assets Investment property Investments 12 4,237,$87 11,152.001 5,929,384 4,308.505 11, 143.001 5. 168.657 13 14 21,318,972 20,620. 163 Current assets Debtors Cash at bank and in hand 196,977 1,723,934 766, 156 2, 145, 863 1,920.911 2.312,019 Creditors.. amounts falling due within one year 16 1414,3541 (369,557J Net current assots 1,506,557 1,942.462 Total assets less current liabilities Creditors.. amounts falling due after mo than one year 22,825,529 22.562,625 17 {63,7961 (64, 719) Total nel assets 22,761,733 22, 497,906 Charity funds Endowment funds Unreslricled funcls 18 15,838,075 6,923,658 15,992, 700 6,505.206 18 Total funds 22.761,733 22.497,906 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. MrD Ichairmanl Dale". The notes on page$ 37 10 58 fomi part of these financial stslemenls. Page 35
HAR80RNE PARISH LANDS CHARir STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Note Cash flows from operating actlvlties Nel cash used in operating activities 20 1895,3001 (677,498) Cash flows frorn investlng activities Dividends, interests and rents from investments Purchase of tangible fixed assets Proceeds from sale of investments and investment property Purchase of investments and inveslmenl property 783.848 177.926 886,591 {984.9471 707.079 (100.524) 444,506 (436, 719) Net cash provided by Investing actlvlties 607,566 614,342 Cash flows from financing activitles Repayments of borrowing 19231 (835J Nèt cash used In financing activities 19231 {8351 Change In cash and cash equivalents in the ygar Cash and eash equivalents at the beginning of the year 1288.6571 2,173.011 163,9911 2,237.002 Cash and cash equivalent$ at the end of the year 21 1,884,354 2.173,011 The notes on pages 37 to 58 fom part of these financial slalemenls Page 36
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General information The Harborne Parish Lands Charity is an unincorporated charity registered with the Charity Commission in England and Wales, registration number 219031. Its principal address is 109 Court Oak Road, Harborne, Birmingham, B17 9AA. The nature of the opeiations and principal activff(ies are relÈving need in the ancient parish of Harbome. Accounting policies 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance wrth the Charrties SORP IFRS 1021 Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial siatements have been prepared lo give a 'lrue and fairf view and have departed from the Charities (Accounts and Reportsl Regulation5 2008 onty lo the ex1enl required lo piovide a true and fair. view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the A¢¢ounling and Reporting by Charities." Slalemenl of Recommended Practice effective from 1 April 2005 which has Sin been withdrawn Harborne Parish Lands Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. The financial statements are presented in British Pound Sterling being the functional currency of the Charity and rounded to the nearest £. 2.2 Going con¢arn After reviewing the charity's folecasls and Pfojeclions, the Trustees consider that the charity is well placed to manage the business risks il faces. This position is supported by strong cash balances and a sufficient level of reserves. The Trustees therefore have a reasonable expectation that the charity has sufficient resources lo eonlinue in operational existen for the foreseeable future and believe that there a no material uncertainties that call into doubl the ability of the chaiity lo continue as a going concern. The charity therefore continues lo adopt the 9oing concern basis in pparing ils financial statements. The charity's planning processes, including financial projections, lake into consideration the Cyrn1 economic climate and ils potential impact on various sources of income and planned expendrture. Page 37
HAR8ORNE PARISH LAhlDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Icontinuedl 2.3 Income All ineome is cOgnised once the Charity has entf(lemenl to the Income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income from housing activities represents rental and service charges income receivable in the year nel of rent and service charges losses from voids. Inve51menl income from investment properties is re¢ognised as il falls due. Dividends and interest income is recognised as the Charrtys right lo receive payment Is established. Rental income from investment properties is recognised on a CeIVable basis. Page 38
HARBORNE PARISH L4NDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Icontlnugdl 2.4 Expenditure Expenditure is re¢ognised once there is a legal or eonslruetive obligation lo transfer economic benefit lo a third party. it is probable that è Iransler 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 activrty are made up of the lolal of direct costs and 5haied costs, including 5UPPOrt costs involved in undertaking each activrty. Direct costs attributable to a Single activity are allocated directly lo thal activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single aclivrty 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 allocated on the portion of the asset's use. Support costs are those Costs incurred directly in support of expenditure on the objecis of the Charty. Governance costs are those incurred in connection with administration of the Charity and Compliance with consilutional and statutory requirements. Cos15 of generating lunds are cost5 inCL*rd in managing Investment assets. Investment management costs are apportioned betsveen fund5 based on the percentage of the relevant assets held in the fund Charitable activities and governance costs are costs incurred in the Charitys operations. including support costs and costs relating lo the governance of the Charity apportioned lo charitable activrties Grants payable are charged in the year when the offer is made except in those Cases where the offer is conditional. such grants being recognised as expenditure when the conditions attaching are lulfilled. GTanls offered Subject lo conditions which have not been met at thè year end are noted as a commitment. but not accrued as expenditure. All expènditure is inclusive of irrecoveiable VAT. 2.5 Tangible fixed assets and depreciation Tangible fixed assets (including social housing properties) are carried al cost lor deemed costl, nel of depreciation and any provision for any impairment. Cost includes costs directly attributsble to making the asset capable of operating as intended such as the cost of acquiring land and buildings, development costs. interest charges on loans during the development and expendrture on improvements. Expenditure on improvement5 will only be capilalised when il results In Incremental future benefits such a5 increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property. Housing properties in the course of construction are Includ al costs incurred to date. Depreciation on these assets is not charged until they are brought into use. Major components of housing properties, such as lifts and warden alarm systems have been accounted for and depreciated separately from the connecled housing property, over their expected useful econom lives. The useful economic lives of tangible fixed assets are reviewed annltally. Page 39
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng policies Icontinuedl 2.5 Tangible fixed assets and depreciation Icontinuedl Depreciation is charged so a5 to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, Depreciation is provided on the following bases.. Land Office building Fixtu$ and fittings Computer equipment Roof structure and covering Windows and external doors Healing Kitchens 8alhrooms Mechanical Electrical Not depreciated 20 years - 7 years - 3 years 70 - 100 years 30 years 8- 15 years 20 years 30 years 30 years 40 years 20 years 2.6 Investments Fixed asset investments are a fomi of financial instrument and afe initBlly recognised al their Iransaclion c05t and subsequently measured at fair value at the Balance sheet dale, unles5 the value cannot be measured reliably in which case il is measured at cost less 1mpainnenl. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on inveslmenls, in the Stalemenl of finan¢ial aclivilies. 2.7 Investment property All investment properties are included al market value. Any changes in fair value are recognised in the Stslemenl of Financial Adivilies. Properties rented to Provide social housing are treated as tangible fixed assets and not investment properties. 2.8 Flnancial instruments The Charity only has financial assets and fin8n¢ial liabilities of a kind that qualify as basic financial instruments Basic financial inslfumenls are initially recognised al transaction value and subsequently measured al their seitlemenl value with Ihe exceplion of bank loans which are subsequenlly measured al amortised ¢ost using the effective interest method. 2.9 Debtors Trade and other debtors are recognised al the settlement amount. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash al bank and in han¢J includes cash and short-tem highly liquid Investments with a short malurty of the months or less from the dale of acquisition or opening of the deposf( or similar account. Page 40
HARBORNE PARISH LANDS CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng policies Icontinuedl 2.11 Liabilltles and provisions Liabilities are recognised when there 1$ an obligation al the balance sheet dale as a result of a past event. it Is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl can be estimated ieliably. Liabilities are recognised al the amount that the Charity anticipates il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services Il musl provide. Provisions are measured at the best estimate of the amounts required to Settle the obligation. Where the effect of the lime value of money is material, the provision 15 based on the present value of those amounts. discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of fi'nancial activrties as a finance cost. 2.12 Pensions The Charity operates a defined eonlribulion pension scheme and the pension charge preSentS the amounts payable by the Charity lo the fund in respect of the year. 2.13 Fund accounting General funds 8fe unreslriclèd funds which are available for use 81 the discretion of the TTuslees in furtherance of the general obieclives of Ihe Charty and which have not been designated for other purposes. Endowed funds are those funds which are available for use in accordance with the wishe5 of the funder or regulatory body. Endowment funds represent grfts where the Income may be used for general charitable purposes bul the capital musl be retained. Income generated from permanently endowed assets is allocated to unrestricted income. Gains and losses on those assets are attributed lo the endowment fund. Where income funds are used lo build, extend OT improve buildings which are endowed properties or on endowed land, then the enhancement lo the asset will be included within the endowment fund. Page 41
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Critical accounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factor5, Including expectations of future evenls that are believed lo be reasonable under the circumstance5. The Charity has made the following eslimales and 8ssumplions that have a significant impact on the amounts recognised in the financial slatemenls". Useful lives of buildings and ¢omponents this is assessed based on experience and best practice in the sector. The useful lives are regularly reviewed. Valuation of Investment properties fair value is assessed based on a combination of professional opinion. market values, actual occupancy and knowledge of the local area. Critical areas of judgement". Pemanent endowment funds - due lo the age of the Charity and changes in modern day regulation, the Trustees are aware that il is difficult lo 85certain with certainty the absolute values and components of the permanent endowment funds. They have applied judgement lo the split of assets and allocation and apportionment of eligible costs lo those funds based on historic evidence and practice. Valuation of investment properties the Trustees consider the assessment of the valuation of investment properties lo be a key area ol judgement. with the factors impacting upon thi5 assessment being outlined above. Page 42
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from charitable activltles Unrestrieted funds 2024 Totsl funds 2024 Weekly maintenance contributions Service charges receivable Ulililies recharges 612,654 322,350 153,547 612,654 322,350 153,547 Total 2024 1.088,551 1.088,SS1 Unreslncted funds 2023 To181 funds 2023 Weekly maintenance contribution$ Service charges receivable Ulililies recharges 561,900 284,499 110,131 561,9CQ 284,499 110,131 Tolal 2023 956, 530 956,530 Page 43
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Investment income Uftrestricted funds 2024 Totsl funds 2024 Rental income from Investment properties Dividends and interest receivable 590.389 193.459 590,389 193,459 Total 2024 783,848 783,848 Unrestricted funds 2023 Tolal funds 2023 Rental ineome from investment properties DNidends and interest receivable 543.443 163, 636 543.443 Y63.636 Total 2023 707, 079 707,079 Page 44
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Investment management costs Unrestricted Endowment funds funds 2024 2024 Total funds 2024 Repairs Insurance Legal and property management fees Agent's comission Investment management fee 4,633 310 149,802 10,028 8,017 64,671 12.912 1 $4,435 10,338 8,265 66,671 31,726 248 2,000 18.814 Total 2024 26,005 245,430 271,435 Unreslricled Endowment fvnds funds 2023 2023 Total funds 2023 Repairs Insurance 7.819 249 437 7,848 17,972 252,8t3 8,047 74,t18 59,721 12,334 260.632 8, 296 14,555 61,569 30,306 Legal and property management fees Agent's comission Investment management fee Total 2023 28.325 347, 033 375,358 Page 45
HAR80RNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of grants Grants to Grants to Institutions Indlvldual$ 2024 2024 Total funds 2024 Grants for lief in need 286.603 45.882 332.485 Grants to Inslilulions 2023 Grants to Individuals 2023 Total funds 2023 Grants for relief in need 230.259 71.313 301,572 During the year. 63 (2023.. 164) grants were awarded lo individuals referred to the Charity by agencies in Bimingham and Sandwell. Page 46
HARBORNE PARISH LANDS CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysls of expendlture on charitable actlvltles Summary by fund type Unrestricted Endowment funds funds 2024 2024 Total 2024 Housing activities Grants for relief in need 1,360,343 389,645 138.864 1.499,207 389,645 Total 2024 1.749.988 138,864 1,888.852 Unreslncled Endowment funds lunds 2023 2023 Total 2023 Housing activities Grants for lief iri need 984.432 355,446 715,953 1, 1(Kl,385 355,446 Total 2023 1,339,878 115, 953 1.455,831 Included within housing activities is govemance costs of £80,191 (2023.. £68,355). See note 9 for detsits. Analysis of expendlture by actNlties Activities undertaken directly 2024 Grant funding of activities 2024 Support Costs 2024 Total funds 2024 Housing activities Grants lor relief in need 1,419,016 80,191 57,160 1,499.207 389,645 332,485 Total 2024 1,419,016 332,485 137,351 1,888.852 Page 47
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure by activities leontinuedl Activities undertaken directly 2023 Grant funding ol activities Support costs 2023 Total funds 2023 2023 Housing activities Grants for relief in need 1,032.030 68, 355 53,874 1, 100,385 355,446 301,572 Total 2023 1.032,030 301,572 122.229 1,455,831 Analysis of dlrect costs Housing Activities 2024 Total funds 2024 Staff costs Operating costs Interest payable 328,235 1,084,113 6,668 328,23S 1,084,113 6,668 Totsl 2024 1,419.016 1.419.016 Tolal funds 2023 Activifies 2023 Staff costs Operating costs Interest payable 311.304 713,970 6, T56 311,304 713,970 6. 756 Total 2023 f,032,030 7,032.030 Page 48
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expendlture by activities {continuedl Analysis of support costs Grants for relief In need 2024 Housing Activities 2024 Total funds 2024 Staff costs Premises and office running expenses Governance costs 50,990 6,170 50.990 6,170 80.191 80.191 Total 2024 80.191 57.160 137,351 Housing Grants lot Activities relief in need 2023 2023 Tolal funds 2023 Staff costs Premises and office runnin9 expenses Governance costs 48, 894 4,980 48,894 4.980 68.355 68,355 Total 2023 68,355 53,874 122,229 Page 49
HAR80RNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 10. Governance costs Unrestricted funds 2024 Total funds 2024 Audilorfs remuneration Other costs Premise5 and office running expenses Wages and salanes National insurance Pension cost 24,804 23.820 2.779 23.816 2,606 2,366 24,804 23.820 2,779 23,816 2,606 2,366 Total 2024 80,191 80,191 Unrestricted funds 2023 Tol81 funds 2023 Audrtor's remL+neration Other costs Premises and offi'ce running expenses Wages and salaries National insurance Pension cost 24, 762 14, 796 2, 692 22.496 2.561 2,248 24, 162 14. 196 2. 692 22.496 2,561 2,248 Total 2023 68,355 68,355 Audi(orfs remuneration contains £3,204 (2023.. £3,OOOJ of non-audil fees. Page 50
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Staff costs 2024 2023 Wages and salaries Social seeurity costs Other pension costs 347,492 28,632 31.889 328, 749 27,611 31.143 408,013 387,503 The average number of persons employed by the Charity during the year was as follows.. 2024 2023 No. Employed wholly on housing activities Employed on housing activilEs, grant making and govemance The number of employees whose employee benefits (excluding employer pension c051s} exceeded £60,DOO was". 2024 No. 2023 In the band £70,001 - £80,000 Aggregate MUneration and benefits received by key management personnel (including employer pension conlribulions, national Insurance and beneff(sl amounted to £211,052 (2023." £197.764) Key management personnel comprises the Truslees, Chief Executive, Housing Manager, Senior 8uildin9S Manager and Infomialion and Policy Officer. Trustees receive no remuneration or benefits. Page 51
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. Tangible fixed assets Freehold Fixtures and property rittlngs Housing Propertles Total Cost or valuation At 1 July 2023 Additions Disposals 657,493 164,036 31.467 {53,1091 6.055,164 46,459 6,876,693 77,926 153,1091 AI 30 June 2024 657,493 142.394 6,101,623 6.901.510 Depreciation Al 1 July 2023 Charge for the year On disposals $4,261 6,546 118,799 21,172 153,1091 2,395,128 121,126 2,568,188 148,844 153,1091 At 30 June 2024 60.807 86,862 2,516,254 2.663,923 Net book value AI 30 June 2024 596,686 55.532 3,585,369 4,237,587 AI 30 June 2023 603,232 45,237 3, 660,036 4,308,505 Page 52
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. Inv&stment property Freehold investment property Valuation Al 1 July 2023 Revaluation gain 11,143,001 9.000 At 30 June 2024 11.152,001 Investment propety comprise commercial properties and residential with fair values of £5.7m and £5.5m respectively. The Charity's investment properties were formally valued as al 30th June 2023, commercial propertie5 were valued by Richard Longden IMRICSI ol Cottons Chartered Surveyors on an open market value and residential pioperties by James peel IMRICSI of Carters Chartered Surveyors on an open market value. The Trustees ¢on5ider the relevant assumptions applied by the surveyors appropriate as al 30th June 2024. The majority of these properties were bequeathed to the charity many years ago and the historical cost Is not known. 14. Fixed asset investments Cash held by investment manager Listed investments Total Cost or valuation At 1 July 2023 AdLlilions Disposals Revaluation5 Management fees 5.141,509 984,947 1886,5911 529,099 27,148 1734.9471 886,591 5,168,657 250.000 $29,099 {18,3721 118,372) At 30 June 2024 S,768,964 160.420 5,929,384 Page 53
HAR80RNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 1S. Debtors 2024 2023 Due within one year Trade debtors Rents held by managing agent Prepayments and accrued income 18.765 88.325 89.887 18,324 100.675 47, 157 196,977 166. 156 16. cdItOrs. Amounts falling duo wlthin one year 2024 2023 Bank loans Trade creditors Other laxalion and social security Olher creditors Acciuals and deferred income Grants payable 560 17,753 8,503 8,449 146,926 232.163 560 68.&KI 9.231 7,336 132,575 151,355 414,354 369, 557 Included within accruals and deferred income is rental income invoiced in advance of £83,176 (2023." £70.883) 17. Creditors.. Amounts falling due after more than one year 2024 2023 Bank k)ans 63.796 64. 719 The above loan included in credrtors within and after one year is secured by a charge over Harborne House, one of the Charitls housing properties. The loan 15 repayable in inslalmenls over a term of 60 years ending on 31 July 2044. The interest accrues al a rale of 10.250/0. rhe loan represents 6.4 /0 12023.. 6.30%) of the book value of the property. Page 54
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 18. Statement of funds Statement of funds - current year Balance at 1 July 2023 Balance at 30 June 2024 Gain (Losses) Income Expenditure Unrestricted funds General Funds 6.505,206 1.872.928 11,775,993) 321.517 6.923,658 Endowment funds Endowment Funds 15,992,700 {384.2941 229.669 15,838,075 Total of funds 22,497,906 1.872,928 {2,160,2871 551,186 22.761,733 Statement of funds - prlor year Balance al l July 2022 Balance 81 30 June 2023 G8ins/ {LossesJ Income Expendilure Unrestrlcted funds General Funds 6,242. 778 1, 663,970 (7,368,203) (33,339) 6,5Q5,206 Endowment funds Endowment Funds f 5,564. 185 f462,986) 891,501 15,992,7LKI Total of funds 21.806,963 7, 663,970 (1.831, 189) 858, 162 22,497,906 Page 55
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 19. Analysis of net assets between funds Analysis ol net assets between funds - current period Unrestrict8d Endowment funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed a55et investments Investment property Current assets Creditors due within one year Credrtors due In more than one year Loan between funds 55.531 4,182,056 4.237,587 3,786,125 2,163,259 5,929.3B4 529,999 10,622.002 11,1S2,001 1,920.911 1,920,911 1413,7941 1414.3541 15601 163,7961 11,064,886) 1,064,886 Total 6.923,658 15,838,075 22,761,733 Analysis of net assets between funds - prior period Unreslricled Endowmenl funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Investment propety Current assets Creditors due within one year CditorS due in more than one year Loan behveen funds 45,235 4,263.270 4,308.505 3,065,014 2. 103, 643 5. 168, 657 530,000 90, 613,001 11, 143,007 2,312,019 2.312,019 (368,997) (369,557) 12,805 (64, 719) 909, 130 (560) (77, 524) (909, 130) Total 6,505,206 15. 992, 700 22,497,906 Page 56
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Reeonclliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel income for the period las per Statement of Financial Aclivrtiesl 263,827 690, 943 Adjustments for-. Depreciation charges (Gainslllosses on investments Dividends, interests and rents from investments Increase in debtors Increase in creditors 148.844 S38,0991 1783.8481 130.8211 44,797 135. 7 (854,022) (707,079) (42, 781) 99,691 Net cash used in operatlng actSvltles 1895,3001 (677,498) 21. Analysis of cash and cash equivalents 2024 2023 Cash in hand Cash held al investment manager 1,723,934 160.420 2, 745,863 27. 148 Total cash and cash equivalents 1,884.354 2,173,011 22. Analysis of changes in net debt At 1 July 2023 Cash flows At 30 June 2024 Cash at bank and in hand Debt dLJe within 1 year Debt ¢Jue after 1 year 2,145,863 15601 {64,7191 1421.9291 1,723,934 15601 163,796} 923 2,080,584 1421.0061 1,659,578 Page 57
HARBORNE PARISH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 23. Capital commitments 2024 2023 Contraeted for but not provided in these financlal statements Acquisition of tangible fi'xed assets 409,336 191,625 24. Pension commltments The chafily operates a defined ¢onlribulKJn pension scheme. The assets of the scheme are held separately from those of the ¢harily in an independently administered fund. The pension cost charge represents contributions payable by the Charity lo the fund and amounted to £31,889 12023." £37, 143) Contributions lotslling £4,079 (2023. £4.018) wefe payable lo the fund at the balance sheet dale and are included In creditors 25. Related party transactions None of the Iruslees or any persons connected with them recewed any remuneration during the year (2023.. Nil) The lolal amount of expenses reimbursed to Trustees or third parties in relation lo Trustees expenses was £NIl during the year (2023." £Nil). There were no furthei Iran5aclions with related parties during the year (2023.. £Nil) Page 58