ST PETER'S HOSTEL FOR MEN Registered Charity No: 236595 REPORT AND FINANCIAL STATEMENTS 31 May 2025
ST PETER'S HOSTEL FOR MEN REPORT AND FtNANCIAL STATEMENfs 31 MAY 2025 Page TnteeS and Advisors Tru5tees' Report 215 Report of the Independent Examiner Stat¢m¢nt of Financial Activities Balance Sheet Notes to the Financial Ststements IncoryK)rating the Accounting Policies 9114
ST PETER'S HOSTEL FOR MEN TRUSTEES AND PROFESSIONAL ADVISORS TRUSTEES: Father D C Way G Roberts N M Hirst (ex-officio) Parish Priest (ex-officio) Church Warden (ex-officio) chUh Warden ADVISORS Bgnkers: Barclays Bank PIC 20-21 Lemon Street Truro TRI 2NB Lloyds Bank PIC 8 Royal Parade Plymouth PLI IHB Accountants: Northcott Trumfield Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE
ST PETER'S HOSTEL FOR MEN TRUSTEES, REPORT The trnstees present their a[Ual report and financial statements of the charity for the year ended 31 May 2025. The financial statements have been prepar¢d in accordance with the accounting policTres set out in note I to the accounts and comply vath the CPlty'S trust deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Prnctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland publisbed on 16 July 2014. Objectives and Activities for the Public Benefit The charity's objects are for the proviston of a working men's hostel or for any other PUTPOS¢ which benefits the work of the CEll of England in th¢ Parish of St Pe*r's. The charity fierS its cbaritable purposes for the public benefit through its donation policy.. Providing assistance to St Peter's Church and St Peter's Church Council for the benefit of its parishion¢rs. Providing assistance to St Peter's Church of England Primary School for the benefit of the pupils. Donation Making Policy The charity has establxshed its donation making policy to achieve its objects for the public benefit, to help the Parish of St Peter's. Revlew of our Achlevements and Perforniance The benefit of the charity's work during the yeaT h&s been to provide support aud &ssistall¢e to St Peter's Church and its Work in the Parish. Financial Review The cbarity's work is entirely reliant on its invesltnent income from its rental properties and investments. The charity uses the income generated by these investments, but not the capital. During the year the charity continued to support St Peter's Church by way of donations out of its income.. £25.717 to St P¢t¢r's Church Council and £43,977 to St P¢'S Church. The charity also gave £300 to Baby Basics Plymouth, £21XI to St Peter's Primary School and £538 to Fareshare South West. The charlty made an operating suryTrlus of £6,054 during the year, which included £10.461 increase in value of listed investments.
ST PETER'S HOSTEL FOR MEN TRUSTEES, REPORT cOTINuED Investment Policy and Performance The charity has invested in low risk investments - properties and M & G Charifund - to ensure its capital As mailltsined for future geneiations. The total return of investments for 2025 was 7.320/0 (2024 6.840/0 . Risk Management The trnstees have assessed the risks to which the clwity is exposaL including operational and financial risks. In the opinion of the trustees the charity has establish resources and review systems which under nornial conditions should allow the risks id¢ntifi¢d to b¢ mitigated to an acceptabl¢ l¢v¢l in the day to day operations. Reserves Policy The trustees aim to maintain fr¢¢ r¢s¢rves in unrestricted fLmdg at a level which equates to approximately three months of u[estrICted charitable expenditure. The tntee8 consider that this level will provide sufficient funds to respond to applications for grdnts and ensure that support and governance costs are covered. The balance held as UnStrICted funds at 31 May 2025 was £832,940 of which £62.548 are regarded &s free reseryes, after allowing for funds tied up in fixed asset investments. The restricted reseryes at the year end were £375,782. Plans for the Future The trustees anticipate continuing to support the Church of St Peter's and its work in the Parish of St Peter's. Structur4 Governance and Management The St Pefrr's Hostel for Men was set up under trust on 21 December 1922 to be adtn1Dtered by tbe Vicar and Church Wardens of the Parish of St Petet's, PIyTnouth (The Administering Trustees) for the b¢n¢fit of providing a lodging house or hostel for working men of small means with or without payment at tbe discretion of the AdmIterIng Tntees. and to be used to fijrther any other purpose which in their opinion is to benefit the work of the Church of England in the Parish of St Peter's. In 1996 the then Vicar and Cburch Wardens fund w&s incorporated into the hostel's accounts as both accoullts were being used for very similar purposes. The tnt do¢s not activ¢ly fimd raise and seeLs to continue its charitable work through th¢ ¢arefuI stewardship of its ¢xisttng resources. Th¢ trust¢es meet on a regular basis to discuss the nee(Ls of the Parish and how the trust may help fulfil its obj¢ctiv¢s.
ST PETER'S HOSTEL FOR MEI¥4 TRUSTEES, REPORT cowfiNUED Key managemellt personnel remuneration The trustees consider tbe board of tnteeS as comprisillg the key managernent personnel of the charity in charge of directillg and controlling the chaTity and Th1Thg and operating the charity on a day to day basis. All trustees give of their time freely and no ttustee remunerdtion w&s paid in the year. Details of tsstee expenses and related party trdnsactions are disclosed in note 2 to the aOUllts. Trustees are required to disclose all relevant interests and then register them with the board and in accordance with the Trust's policy withdraw from d¢cisions where a confiict of interest arises. Reference and Admfinlstrative infomation Trustees Father D C Way G Roberts N M Hirst (ex-officio) Parish Priest (¢x-officio) Cbuwh Warden (ex-officio) Church Warden Principal Office 23 Wyndham Square, plymou PLI SEG. Charity Number: 236595 Independent Exa]niner Northcott Trumfiel(L DeVOtlre Vill4 52 Stuart Roa Stoke. Plyjnouth. PL3 4EE Bankers Barclays Bank Pl¢, 20-21 Lemon StreeL TTuro. TRI 2NB Lloyds Bank Plc, 8 Royal Parade, PlymoutM PLI IHB
ST PETER'S HOSTEL FOR lEN TRIISTEES, REPORT CONTINUED Trustees, Responsibilities in Relalion to the Finaneial Staltments The charity trustees are responsible for preparing a trustees. annual report and finan¢ial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) The law applicable lo charities in England and Wales requires the eharit! trustees to prepare finaneial statements for eaeh year 'hICh give a true and fair view of the slate of affairs of the chdrityw and of the incoming resource5 and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently; observe the methods and principles in the applicable Charitie5 SORP; make judgements and eslimales ihat are reasonable and prudent" state whher applicable accounting standards have been followed, subjeel to anv matertal departures disclosed 5Jnd explained in the financial statements" prepare the financial slatemenls on the going concern basis unless il is inappropriate to presume that Ihe charity will continue in business. The trustees are responsible for keeping proper accounting records and disclose with re<tsonable accuracv at any time the tinancial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, th¢ applicable Charities (Accounts and Reports) Regulations. and the provision of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevenlion and deteciion of frdud and other irreeularili¢s. The trustees are responsible for the maintenance and integrity of the charity and financial int"ormation included on the charity's website. Leg151ation in the United Kingdom goveining the preparation and dissemination of financial statements may differ from legislation in other.jurisdielion5. Approved by the Trustees on F 2026 and 518ned on their behalf by..
ST PETER'S HOSTEL FOR MEN INDEPENDENT ELIMINER'S REPORT TO THE TRUSTEES OF ST PEJER'S HOSTEL FOR MEN I report to the chlty trustees on my examination of the accounts of the charity for the year ended 31 May 2025 which are set out on pages 7 to 14. Responsibilitie5 and basis of report As the charity's ttvstees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in caying out my examination I have followed all the applicable Directions given by the C]wity Commission under section 145(5)(b) of the Act. Independent exanTriner's ststement I have completed my ¢xamination. I confilln that no n]aterial matters have COEne to my att¢ntion in connection with th¢ ¢xamination giving me cause to believe that in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the ACL the accounts do not accord with those rers. or the accounts do not comply with the applicable requirements concerning the fom) and content of accounts set out in the CEwiti¢s (Accounls and Reports) Regulations 2008 other than any reqUIreent that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to ¢nable a proper understanding of the accounts to be reached. DIANE TRUMFIELD Charter¢d Accountant Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Date- IL
ST PETER?S HOSTEL FOR MEN STATEMENT OF FtNANCIAL ACTtVlTIES YEAR ENDED 31 MAY 2025 Note Unrestricted Restiicted Funds Funds Total Funds 2025 Total Funds 2024 Incoming resources Ineome from: Donations 52 52 Investment income 52,298 29,758 82,056 75,924 Total income 75,924 Resources expended Expenditure on: Raising funds 6,063 2.809 8.872 10,491 Charitabl¢ adivities 2,746 2,746 7,676 Donations and grants 55.015 15,717 70.732 48,792 Support costs 2,539 1,626 4,165 4,306 Total expenditure 66,363 20,152 86,515 71,265 Net ineome/(expenditure) before investments gains/Oosses) (14.013) 9,606 (4,407) 4,659 Transfer between funds (12.235) 7,828 5,813 (4,407) 10,461 4,659 44,449 Net Gains/Oosse3) on investnlents Net Movement in funds (7,587) 13,641 6,054 49,108 Reconciliation of funds: Total funds brought forward 840,527 362,141 1,202 668 1,153,560 Total fund5 carried forward 832,940 375,782 1208,722 1202 668
ST PETER'S HOSTF.L FOR MEr BALANCE SFIEET AS AT 31 MAY 202.5 Unreslricled Restricted Funds Funds Toial Funds 2025 Total Funds 2024 Note Fixed Assets Investments 770.392 349,501 1,119.893 1.109.432 Total fixed assets 770.392 349,501 1 119.893 1 109 432 Current Asstts Cash ai bank and in hand 65,995 30.211 96,206 100.537 Total currnnt assets 65,995 30,211 96.206 100,537 Credilors.. amounts falling due within one vear {3.447) (3.930) (7,377) (7,301) Net current assets 62,548 26,281 88,829 93,236 Total net assets 832,940 375,782 1208 722 1202 668 Funds of the eharity Reslricted income funds Unrestricted income funds 375,782 375.782 832,940 362,141 840.527 832,940 Total ¢h#rity funds 832 940 375 782 1208,722 1.202.668 The financial statements were approved by Ihe Trustees and signed on their behalf by." Date.. 2026 The notes at pages 9 to 14 forni part of these financial statemenls
ST PETER'S HOSTEL FOR MEN NOTES TO THE FINANCIAL STATEMENTS Year Ended 31 May 2025 Aceounting Policies (a) Basis of preparation The accounts (financial statemetkts) have en prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise ststed in the relevant note(s) to th¢s¢ accounts. The financial statements hav¢ been prepar&J ID accordance with the Statement of RecOmended Practice." Accounting and Reporting by Charities preparing their counts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of treland (FRS 102) and with the Charities Act2011. Th¢ trust coltitUteS a public benefit entity &s defined by FRS 102. Golng concern The trustees consider that there are no material uncertainties about the Tnl'S ability to continue as a going conc¢nL (b) Funds strncture General resources are unrestricted funds which ate available for use at the discretion of the stees tn th¢ furtherance of the general objectiv¢s of the charity and which have not been designated for other putposes. Restricted funds ate available to be in accordance with the restiictions iti]posed on the original donationlgift.
ST PETER9S HOSTEL FOR MEN NOTES TO THE FINANCIAL STATEMENTS Y¢ar Ended 31 May 2025 (c) Inco]ne recognitio All income is recogllised once the charity has entitlement to the income, there is sufficient Certainty or receipt and so it is probabl¢ that the income will be received, and the amount of income receivable can be MeaSud reliably. DonatiOD& recogDised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfonnance before the charity is entitled to th¢ fimds, the income is defe¢d and not r¢cognised until either those conditions are fillly meL or the fulfilmcnt of those conditions is wholly within the control of th¢ clwity and it is probable that those conditions will be fifilled in the reporting period. Interest on funds held on deposit is in¢lud¢d upon notification of th¢ interest paid or payable by the Bank. Dividends are recognised once the dividend ]]&s b¢¢n declared and notification has been received of tbe dividend due. This is nonnally upon notification by our investment advisor of the dividend yield of the investment portfolio. (d) Expenditure recognition Liabilities are recognised as expenditure as s(x)n &s the is a legal or constructive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured r¢liably. All expenditure is accounted for on an accruals basis. All expenses. including support costs and governan¢e costs, are allocated or apwrtioned to the applicable expeDditLwe headings in the stat¢m¢nt of fitwicial activities. For more information on this allocation refer to note (e) below. Grants payable are payments made to third parties in the fintberance of the charitabl¢ objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant awar Grants awards that are subject to the recipient fulfilling perforn]ance conditions are Olliy accrued when the recipient been notified of the grant and any remaining unfulfilled condition attachmg to that grant is outside of the control of the Trust. Provisions for grants are made when the intention to ll¢ a grdnt Ims b¢en comn]unicated to the recipient but there is uncertainty &s to the timing of the grant or the amount of grant payable. io
ST PETERYS HOSTEL FOR MEN NOTES TO THE FtNANCIAL STATEMENTS Year End 31 May 2025 (e) Allocation of support and governance costs Support costs have been differentiated between governance costs and other support costs. Governance costs comprise all costs involving the public accountsbility of the charity and its compliance with regulation and good practice. Thes¢ costs Anclude Costs related to independent examination and legal fees together with an apportionment of ovethead and supN)rt costs relating to trstee meetings. Governance costs and support Costs r¢lating to charitable activities have been apwrtioned pro rata based on the amount of the donations mad¢. Th¢ allocation of support and governance costs is analysed in note 6. (fj Costs of raising funds The costs of generating fun(ts consist of the ¢xp¢nditure on the rental properties. (g) Fixed asset investments Investments ate a forn] of basic financial instnllnent and are initially recogtiised at their transaction value and subsequently measured at their fair value &$ at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other ¢on)plex finaDcial instruments. Reallsed galns and losses All gains and lo&ses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as th¢ difference between sales proceeds and their opening carying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and loss¢s ar¢ ¢ombin¢d in the Ststement of Financial Activities. Related party trallsactlons and trustees, expense5 and remuneration The trustees all give freely of their titne and expertise without any forni of remuneration or other benefit in c&sh or kind (2024: £nil). li
ST PETERgS HOSTEL FOR MEI¥4 NOTES TO THE FINANCIAL STATEMENTS Year Ended 31 May 2025 Analysis of Income No.2 No.1 Unrestricted Restricted Fun(Ls Funds Total 2024 Funds Total Funds Donations Donation&lLegacies In¢ome from investments Interest received Dividend income Rental and leasing income 52 52 15 16.338 35.945 52.350 21 20,438 9,299 29,758 36 36,776 35 34,925 The restricted incom¢ in th¢ PTIOT year was £28,611. Analysis of expenditure Unrestricted Restricted Funds Funds Total 2024 Funds Total Funds Expenditure on raising fid8 Property expenses 6.063 2.809 8,872 10,491 Expenditure on charitable activities Motor expenses Church activities 2,431 315 2,746 2,431 315 2,746 5,821 1,855 Donations and grants (see note 6) 55,015 15,717 70,732 Support costs Office costs Accountancy Legal and professional 1,354 780 405 2.539 339 780 507 1,626 1,693 1,560 912 1,946 1,500 860 Total expenditure 66,363 20,152 12
ST PETER'S HOSTEL FOR MEI¥ NOTES TO THE FINANCIAL STATEMENtS Year Ended 31 May 2025 Details of certain items of expenditsre 2025 2024 Fees for the eXamition of the accounts Independent examition fees 1,500 Donations 8nd grants Grants to Institutions Analysis of grants paid St Peter's Church Council - to &ssist with loan rcpaymcnts St Peter's Church- for specific maint¢nanc¢ proje¢ts/running wsts Baby Basics Plymouth St Peter's Primary School Fareshare Southwest 7,717 61,977 300 200 538 70,732 Fixed asset investments Movement in fixed asset investments Listed tnvestment tnvestments Properttes 2025 Total Total Market value brought forward Gainl(loss) on revaluation Market value carried fonvard 618.432 10.461 628.893 491.0(X) 1,109.432 1,064,983 10,461 44,449 491.000 1,119,893 1,109,432 2025 2024 Investments at fair value comprised: Listed investments tnvestment pmperties 628,893 618,432 491000 1119,893 1109 432 All investments are Caled at their fair values. The investm¢nt prop¢rti¢s have been valued by the trustees. 13
ST PETER'S HOSTEL FOR MEN NOTES TO THE FINANcL STATEMENrs Y¢or Ended 31 May 2025 Creditors: Amounts falllng dme within one year 2025 2024 Other ¢reditors ACcnlS and defeTred income 2,025 5,352 1,959 5.342 7,301 Analysis of charitable funds Analysis of fund movements Balance Blfwd Investment Income Expcndilure Gaintransfe[S Balance Clfwd St Peter's Hostel for Men- Restricted 362.141 General reserve - Unrestricted 840,527 1202.668 29,758 {20,152) 66,363 86,515 4,035 375,782 832,940 10 461 1208 722 AnalysAS of charitable ndS - previous year Balance Blfwd Investment tncome Expenditure Lossesltransfers Bal&n¢e Clfwd St Peter's Hostel for Men - Restricted General reserve - Unrestricted 341,649 811.911 1.153 560 28.611 (33,960) 37,305 71,265 25.841 362,141 18,608 840,527 44,449 1,202,668 75,924 St Peter's Hostel for Men is a restricted fund which w&8 set up to provide for a workxng men's bostel or for any other purpose which benefits the WOTk of the Churth of England in the parish of St Peter's. The general reserve. an unrestricted fun41 was originally th¢ Vicar and Church Ward¢ns fimd which was incorporated into the hostel accounts in 1996 14