| Vnrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| Note | 2 | |||||
| Income: | ||||||
| Donations and legacies | 767,931 | 117,080 | 885,011 | 973,097 | ||
| Charitable activities |
8,810,107 | 4,004,316 | 12,814,423 | 11,653,624 | ||
| Trading income | 18,535 | 18,535 | 6,052 | |||
| Investment income |
13,530 | 13,530 | 9,870 | |||
| Total income | 9,610,103 | 4,121,396 | 13,731,499 | 12,642,643 | ||
| Expenditure: | ||||||
| Raising funds | 318,154 | 318,154 | 216,739 | |||
| Charitable activities Total expenditure |
8,666,730 ~SNM4 |
3,927,085 so70S5 |
12,593,815 ~911989 |
11,643,408 12M0.14 |
||
| Net gains on irnssstments | ||||||
| Net income | 625,219 | 234,939 | 860,158 | 582,496 | ||
| Net movement in funds |
625,219 | 234,939 | 860,158 | 582,496 | ||
| Reconciliation offunds |
||||||
| Total funds brought | forward | 2,439,224 | 598,629 | 3,037,853 | 2,455,357 | |
| Total funds carried | forward | 3,064,443 | 833,588 | 3,898,011 | 3,037,853 |
| Note | |||||
|---|---|---|---|---|---|
| Fixed assets | |||||
| Tangible assets | 9 | 1,639J700 | 1,177.389 | ||
| Investment property |
10 | 394dt51 | 354,223 | ||
| 2,034,761 | 1,531,612 | ||||
| Current assets | |||||
| Cabtors | 4126,034 | 2,103,964 | |||
| Cash at bank and | in | hand | 2,555,984 | 1,945,909 | |
| 4,682,018 | 4,049,873 | ||||
| Liebilihes Creditors. Amounts |
falling due within one year | 12 | ~2,235,53 | ~2,241,9M | |
| Net cunsnt assets | 2,446,479 | 1,807,915 | |||
| Total assets less | current liabilities | 4,481,230 | 3,339,527 | ||
| Creditors: Amounts | falling due after one year | (583,2tgj | (301,674) | ||
| Total net assets | 3,898,011 | 3.037,853 | |||
| The funds ofthe charity | |||||
| Restricted income | funds | 15 | 833,568 | 598,529 | |
| Unrestricted funds |
15 | 3,064,443 | 2,439,224 | ||
| Total charity funds | 011 | 3,037,853 |
| forthe year ended 31March 202 | forthe year ended 31March 202 | 2 | |||||
|---|---|---|---|---|---|---|---|
| 'r4v4242liWASSFAArrvMiPir/AN/AFiÃY/rY/rYAlliPAVAi | |||||||
| Note | |||||||
| Cash provided by operating activlfies |
878,123 | 464,582 | |||||
| Cash flows item investing activibes |
|||||||
| Interest | 13,530 | 9,870 | |||||
| Proceeds f 'sale offittings Purchase sets |
and equipment | ~523.440 | 29,000 ~584206 |
||||
| Cash used in investing activities |
~550,580 | ~045, 5 |
|||||
| Cash fkwvs from financing activities |
|||||||
| Repayments of borrowing |
(16,468) | ||||||
| Cash inflows from new borrowing | 308,000 | 310,405 | |||||
| Net cash provided by financing | activities | 291,532 | 310,405 | ||||
| Change in cash and cash equivalents | in the year | 610;078 | 229,572 | ||||
| Cash and cash equivalents atthe beginrdng ofthe year |
"I49451909 | 1,716,336 | |||||
| Total cash and cash equivalents | at the | end ofthe year | ~303IISI | 1.045,8S | |||
| Near A | |||||||
| Reconciliation ofnet income to | net cash flow from operating | acdvities | |||||
| Net income forthe year {asper | the statement offinanchd | acfivitles) | 860,158 | 582,496 | |||
| Adjustmenls for. |
|||||||
| Depreciation charges |
'f10,599 | 101,846 | |||||
| (Gain) on investments | (40,628) | ||||||
| Interest from investments | (13,530) | (9,870) | |||||
| Profit on sale offixed assets | (3,984) | ||||||
| (Increase) / Decrease in debtois | (22,070) | (1,267,022) | |||||
| increase / (deossse) in creditors | (I6,406) | 1,061,1 'I6 | |||||
| Net cash provided by operating |
activlges | 878,123 | 464,582 | ||||
| Note 8 | |||||||
| Analysis ofcash and cash eqtsvalents | |||||||
| Cash in hand |
2,555,984 | 1,945,909 | |||||
| Note C | |||||||
| At 1 Apr | Non-cash | At31Mar | |||||
| Analysis ofchange in net debt | 2021 | Cashflowe | changes | 2022 | |||
| Cash and cash equivalents | 1,945,909 | 610,075 | 2,555,984 | ||||
| Cash bcrrowin go |
|||||||
| Loans falling due within one year | (8,731) | 16,468 | (26,455) | (I8,716) | |||
| Loans falling due after more than one year | (301,674) | (308,000) | 26,455 | (563,219) | |||
| ~340,405 | ~291.532 | - | ~00103 | ||||
| 1 635 504 | 318543 | 1,954,047 |
| Aocoungng policies |
|||
|---|---|---|---|
| The principal accounting policies adopted, iudgements and ksy sources of estimation uncertainty in the preparation |
ofthe | ||
| financial statements areset out below, |
|||
| Basis of preparation | |||
| The financial statements have been prepared in accordance with the historicai cast |
convention, mcdiTied tc include |
||
| investment properties at fair value, and in accordance with the Statement of Recommended Practice - Accounting and |
|||
| Reporting by Charitiss (SORP2015) applicable to charities preparing their accounts |
in accordance with the Financial |
||
| Reporting Standard applicable Inthe UK and Ireland (FRS102)(effective 1 January |
2019)and the Companies Act 2006. |
||
| Porchfight meets the definition ofa pubfio benefit entity under FRS102. |
|||
| 1.2 | Preparation ofthe accounts on agoing concern basis |
||
| The trustees have considered the appropriateness ofthe going concern assumption |
for the preparation ofthe financial |
||
| statements. In making that assessment they have considered fonrcasts for the period to August 2023,the twelve months |
|||
| from the date cfapprovd ofthese flnandal statements. The trustees have assessed |
current contracts, and the work |
the | |
| charity is doing to divemify income streams and they feel confident in the charity's abiTity to continue as a going concern. |
|||
| 1.3 | Income | ||
| Income is recognised when the charriy has legal entitlement to the funds, any performance conditions attached tothe |
|||
| items are met, it is probable that the income will be received and it can be measured |
reliably. | ||
| Donations are mcluded as income when the cash twcomes receivable. For legaaes, |
entitlement is taken when there |
hss | |
| been grant cfprobate, the executors have established that there are sufficient net assets in the estate to pay ths legacy |
|||
| and any conditions attached tothe legacy have been met. |
|||
| Income from government and other grants isrecognised when the charity has entitlement tothe funds. any performance |
|||
| conditiorioattached to the grants have been met, it is probable that the inoome will |
be received and the amount can |
be | |
| reliably vreas ured. | |||
| Where grants are received in advance, amounts are deferred at ths year end as necessary. |
|||
| Other trading activities relate to income in exchange for goods orservices sold, at equal valve. Income is recognised |
when | ||
| the charily has entitlement to the funds and they can be reliably measured, normally |
upon mceipt. | ||
| Income from interest on deposits is recognised when its receipt is probabls and the |
amount can be measured reliably; this |
||
| is normally upon notificaticn or payment by the bank. |
|||
| Donated goods and services are induded as income where it would otherwise have |
been purchased, Amounts are |
||
| included when received, at the value ofthe cost ofpurchasing the goods or service |
outnght on the open market. |
||
| 1.4 | Expenditure end Inscoverabte VAT |
||
| Afi expenditure is accounted for on an accruals basis and has been included under expense categones that aggregate afi |
|||
| casts for allocation to activities. | |||
| Expenditure on raising funds comprise the costsass~Wan attraotlng income from dcnaticns snd legacies, together |
|||
| with investment costs. Expendfiure on charitable activities includes all costs~by a charity in undertaking activities that further its |
|||
| cha itable aims forthe benefit of its benelidarios, including tyrose support costs and |
costs relating to the governance | of | |
| the charity apportioned to charitable activities. |
|||
| Support coals Include central functions such as govemanoe, finance, administrafion, |
human resoumes etc and have |
been | |
| allocated to activities on the basis ofthe direct expenditure of the activities. |
|||
| Irrecoverable VAT ischarged against the category of resources expended for which |
it was incurred. | ||
| 1.5 | Termination benefits |
||
| Termination benefits are payable when employment isterminated before the normal |
retimmerrt date, orwhenever an |
||
| employee accepts voluntary redundancy in exchange forthese benefibr, The chwily |
rscognises termination benefit |
||
| when it isdemonstrably committed to either (i)terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal cr gi) providing termination benefits as a resuk cfan offer made tc encourage |
|||
| voluntary redundancy. |
|||
| Pensions | |||
| The charity operates a defin~iv uticn pension scheme. The expenses and any lability are allocated tothe activity within the staff costs for that ~Wmfiarly afiocatsd to restricted or unresh Icted based on the relevant staff costs for |
|||
| that fund. |
| 1.7 | Tangibki fixed assets | |||||
|---|---|---|---|---|---|---|
| Individual fixed assets cosfing 21,000or more are capitalised ai cost. |
||||||
| Depreciation is recognised soastowrite olfthe cost orvaluation ofassets less their residual values |
over their | useful lives | ||||
| on the following bases: | ||||||
| Freehold property-2% on cost ofthe building |
||||||
| Leasehold property - over tile fife ofthe lease ~)tinge —25% i~r ofdepreciation is charged in the year of acquisition, and none in ths year ofdisposal. |
||||||
| itsset investments ~ent properties are included in the balance sheet at their open market value. No depreciation |
is provided | on the | ||||
| Fj)r~krfi. Net gains and losses on disposal and mvaluation of investments are chai)ed or |
credited | to the Statement of | ||||
| Fjbftg@lg~ivity (SOFA) |
||||||
| k and in hand | ||||||
| ")80 | h ripfiagk and in hand includes cash and short term highly liquid Investments with a maturity of the Ate ofdeposit. ~ed hgliday pay |
less | than three months | |||
| Provision ie made at the balance sheet date for holidays accrued but not taken, at the salary of the relevant employee at |
||||||
| that date. The expected cost ofcompensated shon-term absence ji.e holidays) Ischarged to the SOFA |
on an accruals | |||||
| basis. | ||||||
| 1.11 | Fund accounting | |||||
| - | Unrestricted funds are available for use at the discretion ofthe trustees m furtherance of the general |
objectives | ofthe | |||
| charity. | ||||||
| — | Designated funds are unrestricted funds earmarked by the trustees for particular purposes. |
|||||
| - | Restncted funds are subjected to restrictions on their expenditum imposed by the donar. |
|||||
| Funds transferred cover deficits on restricted funds. |
||||||
| 1.12 | Operating leases |
|||||
| Rentals applicable to operating leases where substantially all ofthe bsnefits and risks of ownership |
remain with |
the lessor | ||||
| are charged to the SOFAas incurred. | ||||||
| 1.13 | Financial Instruments | |||||
| The Company has elected to apply the provisions of Seotlon 11 'Basio Finanoial Instruments' |
and Seotion 12'Other | |||||
| Financial Instruments fasces' ofFRS102. in full, to all of its financial instruments. |
||||||
| Financial assets and financial liabilities are recognised when the Company becomes a party |
to the contractual | provisions | ||||
| ofthe instrument, and are offset only when the Company currently has a legally enforceable |
right to | set | offthe | recognised | ||
| amounts and intends either to settle an anet basis, ortorealbe the asset and seffle the kability simultaneously. |
||||||
| Financial assets Grants receivable and other debtors (including~d income) which are recewable within |
one year and whio)ra)o nct | |||||
| constitute a financing transaction are initially Iriafisbred at the transaction price and subsequently measumd at |
sntcitlbed | |||||
| cost, being the transaction price less any amounts settled and any irnpairrnent fosses. |
||||||
| Financial liabilities | ||||||
| Olher creditors gincluding accruakt) payable within one year that do not constitute afinancing transaction |
are Initiafiy | |||||
| measured at the transaction pnce and subsequently measured at amortised cost, bemg trarwaction |
price less any | |||||
| amounts settled. | ||||||
| 1.14 | Critical accounting estimates and judgements |
|||||
| In the application of the charity's accounting policies, the Trustees are raquimd. kt iir5ke judgements, estimates and assumptions about the carrying amount ofassets and liabilities that are not ~~&parent from other sources. The |
||||||
| estimates and associated assumptions are based on historical expenence and otheryactors |
that are considered | to be | ||||
| relevant. Actual results may differ from these estimates. | ||||||
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
accounting estimates are |
|||||
| recognised in the period in which the estimate is revised where the revision affects only that |
period, | or in the period ofthe | ||||
| revision and future periods where the revision affects both current and future periods. | ||||||
| Vefuatron oiinvestment prcperfy |
||||||
| The carrying value of the investment properly is stated at fair velum The charily uses a third |
party valuer | for determining | ||||
| the fair value as detailed in note 10to these financial statements, however, the valuation ofthe charity's |
investment | |||||
| property is mherently subjectwe, as it is made on the basis of valuation assumptions wh&ch |
may m future | not prove to be | ||||
| accurate. | ||||||
| 1.15 | Prior penod adjustment | |||||
| The apporbonrnent of mcome and expenditure v ithin charitable activities has changed to three main |
activay headings: | |||||
| Homelessness, Mental Health and Communities, replacing the previous four as these better |
reflect the nature of the | |||||
| activities undertaken. This has led to a redassiflcatlon and a prior period adjustment in the accounts. Tha comparatives |
||||||
| have been restated as a result. There ls no impact an the total comparative income, expenditure, overall |
staff numbers, | |||||
| result for the year or closing reserves at 31 Maroh 2021. |
| Donations and |
tegacies | tegacies | Unmstricted | Restricted | |||
|---|---|---|---|---|---|---|---|
| funds | funds | Total funds | |||||
| 2022 | 2022 | 2022 | |||||
| 2 | 2 | 2 | |||||
| Gifts and donations | 70D,5D5 | 117,DBD | 817~ | ||||
| General grants | 5,250 | 55g50 | |||||
| Donated goads | and services | 62,176 | 62,176 | ||||
| Total | 10 5! | 117000 | 5807 | ||||
| Unreetlioted funds |
Restricted funds |
Total~ | |||||
| 2021 | 2021 | ||||||
| 2 | 2 | f | |||||
| Gifts and donations | 770,930 | 157,576 | 928406 | ||||
| General grants | 25D | 819 | 1,169 | ||||
| Donated goods | and services | 43,422 | 43,422 | ||||
| Total | 014002 | 155575 | 070187 | ||||
| Donated goods | and services relates tothe use | of conference centres and software licences | at no or lrttle coal | to the | |||
| charily. The value included | isthat ofacqulnng | those sennces at the full open markel cost. | |||||
| Charitable achvities |
Unrestricted | Restricted | |||||
| funds | funda | Total funds | |||||
| 2022 | 2022 | 2022 | |||||
| 2 | 2 | f | |||||
| Homelessness | set!aces | ||||||
| Rent IAccommodation | charges | 1,809,602 | 1,809,602 | ||||
| Kent County Council | 2,773,171 | 145,939 | 2,9ig,iip | ||||
| CCG income | 445 | 445 | |||||
| Local authority grants |
154,166 | 799,106 | 953,272 | ||||
| Delivery network | mcome | 176,575 | 176476 | ||||
| Other grants reoeivable | 3. | 65.130 0u 00 ,D2020,004754 |
|||||
| Mental health services | |||||||
| Kent County Council | 3,393,219 | 174.183 | 3,587,402 | ||||
| CCGincome | 453,320 | 1,505,861 | 1,959,181 | ||||
| Local authority grants |
19,663 | 19,663 | |||||
| Delivery network | income | 222 714 | 222 714 | ||||
| Other grants receivable | 33415 | ||||||
| 3,846,539 | 18. | ' ' | 855470 | ||||
| Communities | |||||||
| European Social | Fund income | 50,054 | 951,157 | ||||
| Local authority grants |
25Af72 | ||||||
| 8ig Lottery Fund RRLI fnoorne |
173.515 21,846 |
173415 21~ |
|||||
| Othw grants receivable | 50.054 | 16,224 ',Zl, 00 |
18224 ~7007 14 |
||||
| Total | ~070 07~070 | ~20 23 |
| fnvestmerrt | income | Unrestricted | ||
| funds | ||||
| 2021 | ||||
| 2 | ||||
| Rental income from mvestment | property | 9,870 | ||
| Total | ||||
| Rarelng funds | U~ | Unrestricted | ||
| funds | funds | |||
| 2022 | 2021 | |||
| E | E | |||
| Expenditure | on raising donations | and legaoies | 318,154 | 216,739 |
| Total | 212124 | 21212 |
| There hss been no cha | nge in the overall |
total expenditure for the pri |
or year on the face o | fthe SOFA. Sse not | e 20. |
|---|---|---|---|---|---|
| Charttabkt acSvtdes | 2021 | Mental hesah | Total | ||
| Commun@en | 2021 | ||||
| f | f | ||||
| AcdviUes undertaken | dlrecgy | ||||
| Staff coals | 2,687.328 | 1,727,758 | 1.214,522 | 5,6296608 | |
| Premises casts | 1,251,136 | 81,477 | 46,135 | 14)78,748 | |
| Delivery network fees | 612.350 | 2,143,787 | 373,957 | S,1$0,094 | |
| ONce casts | 137,962 | 57,339 | 27,979 | 223,280 | |
| Tenant welfare fund | 169,428 | 32,405 | 73,328 | 275,181 | |
| Sundry expenses | 3,742 | 282 | 469 | 4,49$ | |
| 4,861,946 | 4,043,048 | 1.736.390 | 108416384 | ||
| Support costs | |||||
| Governance | 17,869 | 'I4.859 | 6,381 | 39,109 | |
| Management 5 administration |
144,735 | 111,714 | 42,772 | 299~ | |
| Finance | 95,649 | 73,827 | 28,267 | 197,743 | |
| Human resources |
46,043 | 35,538 | 13,607 | 95tt$$ | |
| Communications | 276,081 | 2'I3,093 | 81,588 | 570r~ | |
| 580,377 | 449,031 | 172,615 | 1,2~1K. | ||
| Total | ~3463 | ~430 068 | 699405 | 11919~10 |
| 2021 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 2 | |||||||||||||||||||
| Salaries and wages | SWSgg26 | 5,475,614 | ||||||||||||||||||
| Social security casts | 486,747 | 465,682 | ||||||||||||||||||
| Pension costs | 280,008 | 278,400 | ||||||||||||||||||
| Total | 6,449479 | 8,217,696 | ||||||||||||||||||
| Included in pension costs above is an amount |
erQQ'lg53 12021:243,401)relating | to restricted expenditure. | ||||||||||||||||||
| Pension contributions | of 241,728 | (2021;F3908(1)wnis | 1)a)fable at | the | year end. | |||||||||||||||
| Redundancy payments |
totalling | 276,885 | (202'L &42)wars inade | in the year. No | amounts | were outstanding | at | the | year | |||||||||||
| end (2021:2ni0. | ||||||||||||||||||||
| The number of employees whose |
emoluments | fell within | ths following | bands were: | ||||||||||||||||
| 2021 | ||||||||||||||||||||
| Pl10,000 - 2120,000 | ||||||||||||||||||||
| The trustees did not receive any remuneration | or benefits in kmd | in either year gnil | (2021:Eng) was paid as | |||||||||||||||||
| reimbursement oftravel |
expenses | iothe | trustees. | |||||||||||||||||
| The key management | personnel | ofthe charity | compnse | the trustees and the leadership | team. The total amount | of | ||||||||||||||
| employee benefits af |
the key management | persannel | was 2384gg4 (2021:2383,636). | During fhe year no new | staff loans | |||||||||||||||
| were paid to key management | personnel | (2021:Pnil), | and no amaunts | were outstanding | at the year end. | |||||||||||||||
| The average number | of | employees | during | the | year was | as follows | (the 2021 numbers | have been restated | ||||||||||||
| reclassification of activities under |
the three directorates): | |||||||||||||||||||
| 2022 number | ||||||||||||||||||||
| Hametessnesa services |
99 | |||||||||||||||||||
| Mental health services | 76 | 57 | ||||||||||||||||||
| Communities | 23 | 41 | ||||||||||||||||||
| Management &administration |
31 | 33 | ||||||||||||||||||
| Total | ||||||||||||||||||||
| Movement in total funds for |
the )assr | 2021 | ||||||||||||||||||
| 2 | ||||||||||||||||||||
| Thia isStated after charging: | ||||||||||||||||||||
| Operating leases —equipment |
46,868 | 40,167 | ||||||||||||||||||
| Operating leases- land | and buildings | S44,087 | 3280748 . . | |||||||||||||||||
| Depreciation Prafit on disposal ofAxed~ |
1100199 | 'IIXtP48 3,984 |
||||||||||||||||||
| Aufgt@"s mmuneration | for statutory audit |
0 | ||||||||||||||||||
| Fixtures, | ||||||||||||||||||||
| Fmeh ski | Leasehold | Stnngs end | ||||||||||||||||||
| pmperty | property | equlpt | Total | |||||||||||||||||
| 2 | 2 | 2 | 2 | |||||||||||||||||
| Gast | ||||||||||||||||||||
| At 1 April 2021 | 636,735 | 610,999 | 637,133 | '1,884,887 | ||||||||||||||||
| Additions | 454.172 | 118,938 | S73,110 | |||||||||||||||||
| Dispasals At $1 March 2022 |
000000~000 | (7.080) | ||||||||||||||||||
| Depreclatlan | ||||||||||||||||||||
| At 1 April 2021 | 16,117 | 203,013 | 488,348 | 707,478 | ||||||||||||||||
| Charge far the year Disposals A181 March 2022 |
13,021 00000 |
4,167 93,341 110,699 .~000~00n 00 000~0000 000000 |
| Nst book value | |||||
|---|---|---|---|---|---|
| At31 March 2022 | 1&081&698 | 40$&819 | 174382 | 'f 839&800 | |
| At 31 March 2021 | 620,618 | 407,966 | 148,785 | 1,177,389 | |
| Included In freehold |
property above is land | at avalue of2436,636(2021'I | 2254,694) which Is | not depreciated. | |
| Intesbnent fnogsfty |
Total | ||||
| 2 |
| Included In freehold property abo |
Included In freehold property abo |
ve is lan |
|---|---|---|
| Intesbnent fnogsfty |
||
| Fair value | ||
| At 1 April 2021 | ||
| Gain on revaluatlan | af Investment | property |
| At 31 March 2022 |
Porch ight O porchlight.org.uk fl W @ Porchlight1974