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2021-03-31-accounts

THE SIMON COMMUNITY

Trustees’ report and financial statements Company number: 01602161 Charity number: 283938

31 March 2021

The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

Contents

Contents
Reference and administrative details 1
Trustees’ report 2
Statement of Trustees’ responsibilities in respect of the Trustees’ report and financial statements 6
Independent auditor’s report to the members of The Simon Community 7
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13

The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

Reference and administrative details

Charity number 283938 The Board of Trustees Chris Hunton (Chair, appointed 7 August 2021) Alexander Pickering (Treasurer) Alan Cole Gesa Bukowski (Appointed 19 April 2021) Charlotte Spence‐Jones (Appointed 19 April 2021) Mark Pritchard (Appointed 7 August 2021) Registered office 129 Malden Road Kentish Town London NW5 4HS Auditors Haysmacintyre LLP Chartered Accountants Registered Auditors 10 Queen Street Place London EC4R 1AG Bankers HSBC 246 Kentish Town Road London NW5 2BS CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ Investment Managers Brooks Macdonald 21 Lombard Street London EC3V 9AH

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The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

Trustees’ report

Below the trustees present their annual report and the financial statements of the company for the year ended 31 March 2021.

Objectives and activities

The principal object of the charity is the relief of poverty of persons who by reason of mental or physical infirmity are unable to fulfill their duties as citizens or their obligations to their families or to their employers. This objective is put into practice via the following:

Public benefit

The trustees ensure that the activities of the charity are consistent with its charitable objects and aims. In agreeing our annual plans, the trustees take into account public benefit as set out in the Charity Commission's general guidance on public benefit in relation to the prevention and relief of poverty, the advancement of education and health and the relief of those in need. The trustees believe there is clear public benefit derived from the activities of the charity.

Achievements and performance

Chair’s note

Summarized below are the services undertaken during the year ended 31 March 2021:

Service Description Description No. Guests Services
seen in the provided in the
year year
Street work
‐		 Street Work involves walking along the streets of London at night,
between 8.30 and 11pm. We go out to offer a cup of tea or coffee and
food and spend some time with and talk to people.
‐ We use this service as a grapevine to get provisions for people who are in
need. Our regular guests will often alert us to someone who is new or in
trouble and we can get them what they need quickly, such as shoes, a
coat or a sleeping bag. If we find someone who is very ill prepared, we are
able to get word back to the house to get them what they need.
9,378		 230
‐ We aim to develop supportive relationships with those who are
vulnerable and isolated.
‐ Meeting people for the first time is a chance to build a rapport with them
and to try to understand their needs.
‐ We were able to offer guests an introduction to a covid vaccine
programme and support them to go to the hub to get vaccinated
Residential ‐ Our residential project (129 Malden Road) is a truly unique space. Unlike
Project any homeless hostel you may have seen before, it is a space for our
guests to heal through living in community, developing stronger
relationships, and supporting people still on the streets.
‐ Staffed by three full time staff and one live in volunteer, together with the
resident group, staff and volunteers prepare and deliver outreach
services. We support other volunteers on services, some of whom have
given years of service to London’s street homeless population.
‐ From our house hundreds of meals are prepared and distributed to those
still on the streets each week.
‐ We offer up to 5 spaces to homeless people who others will not take on,
as they have complex and deep rooted traumas that do not suit other
forms of provision.

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The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

The Simon Community
Company number: 01602161
Trustees’ report and financial statements
31 March 2021
‐ We give people the time they need to heal, whether that is a few months
or a few years. This is the opposite of a quick fix, but ultimately it will save
government decades of investment in sticking plaster solutions that do
not address the trauma of the long‐term street homeless.
‐ During the year two residents were supported with move‐ons into an
independent living situation. A further four guests from the door / street
work were supported off the streets and into supported accommodation.
‐ During the lock downs (except when we were isolating due to covid) we
were able to provide a door service where homeless guests could come to
the door for food, clothes, hot drinks and information.
Visits ‐ Once guests or residents move on to alternative accommodation they are
supported by the community through visits. This service has been
invaluable in the year when some members have been required to shield.

Source: Simon Community

Over the course of the year to March 2021 we delivered 230 services to London’s hardest to reach street‐homeless people. Even though we faced a series of lockdowns and isolations, we didn’t miss any planned services and our regular guests knew when and where we would be, which was vital in a time of such uncertainty. We are a small and compassionate community with a big heart. We continue to strive to deliver the greatest impact for our community.

We have maintained a steady presence throughout the year with our street work outreach. During the pandemic when our capacity diminished so suddenly, we had to change what we were doing, quickly. Whatever we were going to commit to, we had to be sure we could sustain it for as long as the pandemic affected us and be able to keep going with far fewer people.

We made contingency plans for when we got ill or had to isolate. I’m delighted to report that our approach has been successful and that we haven’t missed a service on the street. It is vital at a time of such uncertainty that our guests know that we will be there for them and The Simon Community will always adapt to meet the needs of the hardest to reach rough sleepers.

We are seeing new faces but also people returning to the streets. Sadly, numbers at the moment are at an all‐time high.

Our AGM was delayed due to the ongoing impact of the Covid‐19 pandemic, subsequently held on 7 August 2021. For some it was the first time they were in a group of people since lockdown.

Coming together at the AGM in the way that we have done annually since inception gave the charity the opportunity to mark a chapter in this pandemic. It was brilliant to see everyone and to see the support from all corners of the Community, old members and new. The board is delighted to welcome new members from this year, all of which come together from a diverse range of backgrounds to support and drive the mission of the charity.

Before the pandemic, during a street work walk we would see between 30 and 40 people per night. This August we have regularly seen between 70 and 80 people and our highest number yet of 85 people in a night. We still have enough for everyone we see and will continue to take whatever we can carry.

We want to take a special moment to appreciate all our donors. Thank you for your support particularly during these challenging and difficult times. Your loyalty and commitment to our cause has meant that we can adapt quickly to the changing needs of our guests and continue to provide consistent support.

The charity does not fundraise from on‐the‐street public sources and there were no fundraising complaints received in the year.

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The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

Trustees’ report (continued) Structure governance and management

The charity is governed by its memorandum and articles of association and is incorporated as a company limited by guarantee. Every member of the Simon Community undertakes to contribute to the assets of the charity in the event the charity is wound up whilst he/she is a member, such sum as may be required not exceeding £1.

Financial Review

Total income for the year is £396k (FY20: £200k) and total expenditure £223k (FY20: £216k), resulting in net income of £173k (FY20: £16k net expenditure). Once again, we are immensely grateful to our donor base who continue to support us including those who leave legacies to us in their death estates which have contributed greatly in recent times to our overall income. Furthermore, the focus from the operational team continues to ensure a manageable cost base.

The trustees acknowledge the increasing pressures on the charitable sector along with the economic impact that covid‐19 is having on the UK, our donors, volunteer base, and the sector. The charity’s cash position was £228k (FY20: £131k) with the increase driven by donations received during the year, offset by expenses and further investments (£30,000).

Investment management

In the previous year ended 31 March 2020 the Trustees established an Investment policy, setting out the investment objectives, attitude to risk, time horizon and ethical policy. In the year investment cash transfers of £30,000 were made (FY20: £400,000). During the year global equity markets largely recovered from the lows in March 2020 after the onset of the pandemic, resulting in an unrealized gain of £47,666 at the financial year‐end (FY20: £31,308 unrealized loss).

Risk management

The trustees continue to monitor the risks to the charity using a risk register. This is reviewed annually, and all trustees are made aware of the risks and their duty to assist in mitigating them.

Going concern

Based on the charity's reserves position and the board’s reasonable expectation that the charity has the resources to continue in operational existence for the foreseeable future. We believe there are no material uncertainties that call into doubt the charity's ability to continue as a going concern. The accounts have therefore been prepared on the basis that the charity is a going concern.

Reserves

The board of trustees believe that the charity should hold financial reserves because:

The trustees have a reserves policy which states that the target minimum level of free reserves should be equivalent of six months' unrestricted operating costs (FY20: six), calculated and reviewed annually, which amounts to approximately £100,000 on a pro‐rata basis, based on current cost levels. At the financial year‐end, there was £282k in general funds, as a result of a legacy received towards the end of the financial year. It is expected that these excess funds will be utilized in the normal course of operations in the financial year ended 31 March 2022.

The Charity has designated £270,792 in a fixed asset fund to represent funds tied up in the Simon Community property portfolio and the Community Van used in the provision of services. The Charity has also designated £347,652 in a property fund to cover the future purchase of property and £20,000 for a new website. Whilst it continues to be an ambition of the board to acquire new property, uncertainty following the events of this year as well as in the sector in general have reminded trustees that until such time that the operations of the community have returned to how they were in a pre‐pandemic world, the purchase of new property in the immediate term poses an unnecessary risk to the ongoing functioning of the charity. Work to develop the new website is expected to be completed in the next 18 months.

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The Simon Community Company number: 01602161 Trustees’ report and financial statements 31 March 2021

Trustees’ report (continued)

Structure governance and management (continued)

Board of trustees

The board consists of the Chair, Treasurer and not less than 3 nor more than 12 other persons, all elected by the members. At each Annual General Meeting (AGM), the Chair and Treasurer retire from office and are eligible for re � election. Members are also eligible for election at the AGM. Up to one third of trustees can be drawn from residents or service users. The policy of the charity is that all trustees receive training about their roles and responsibilities as trustees. Trustees are recruited through the networks of members and are appointed through vote at the AGM.

The trustees who held office during the year were as follows:

Amanda Windle, Chair (Resigned 7 August 2021) Alan Cole Thomas McNally (Resigned 7 August 2021) Alexander Pickering, Treasurer Debra Gerstein (Resigned 19 April 2021)

Organisational structure

The charity is organised so that its trustees meet regularly (a minimum of 8 times per year) to manage its affairs and take strategic decisions on behalf of the charity. The day � to � day running of the Community is delegated to a Community Manager who is supported by a Project Leader, both of whom are full time and report to the board.

Disclosure of information to the auditor

The trustees who held office at the date of approval of this trustees' report confirm that, so far as they are each aware, there is no relevant audit information of which the Company's auditors are unaware; and each trustee has taken all the steps that he ought to have been taken in their capacity as a director of the company to make himself aware of any relevant audit information.

Auditors

Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and Haysmacintyre LLP will therefore continue in office.

In preparing this report, the board of trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board of trustees on 2021 and signed on its behalf, by:

Chris Hunton, Chair 129 Malden Road, Kentish Town London, NW5 4HS

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Statement of Trustees’ responsibilities in respect of the Trustees’ report and the financial statements

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE SIMON COMMUNITY

Opinion

We have audited the financial statements of the Simon Community for the year ended 31 March 2021 which comprise The Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, 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).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 to our audit of the financial statements in the UK, including the FRC’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 to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE SIMON COMMUNITY (continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non‐compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non‐ compliance with laws and regulations related to compliance with regulatory requirements of company law, employment law and health and safety regulations and we considered the extent to which non‐compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act and payroll taxes.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to recognition of income and management bias in certain accounting estimates. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

……………………............................................ Murtaza Jessa (Senior Statutory Auditor) for and on behalf of Haysmacintyre LLP Statutory Auditors

10 Queen Street Place London EC4R 1AG

Dated: 24 November 2021

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Statement of financial activities for the year ending 31 March 2021

The statement of financial activities also complies with the requirements for an income and expenditure account under

Restricted Unrestricted Total Total
Funds Funds Funds Funds
2021 2021 2021 2020
Note £ £ £ £
INCOME AND ENDOWMENTS
FROM:
Donations and legacies 2 ‐ 378,650 378,650 174,245
Investments 3 ‐ 69 69 565
Charitable
activities – homelessness 4 ‐ 17,230 17,230 24,875
activities
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL INCOME ‐ 395,949 395,949 199,685
========= ========= ========= =========
EXPENDITURE ON:
Raising funds 5 ‐ (4,514) (4,514) (3,680)
Charitable
activities ‐ homelessness
activities 6 (2,528) (215,555) (218,083) (211,992)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL EXPENDITURE (2,528) (220,069) (222,597) (215,672)
======== ========= ========= =========
Net gains/(losses) on
investments 15 ‐ 47,666 47,666 (31,308)
NET INCOME/ (EXPENDITURE)
BEFORE TRANSFERS (2,528) 223,546 221,018 (47,295)
TRANSFERS BETWEEN FUNDS (12,960) 12,960 ‐ ‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
NET (EXPENDITURE)/INCOME (15,488) 236,506 221,018 (47,295)
Reconciliation of funds:
Total funds at 1 April 2020 17 74,873 683,512 758,385 805,680
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL FUNDS AT 31 MARCH 13
2021 59,385 920,018 979,403 758,385
=========== =========== =========== ===========

the Companies Act 2006.

The charity has no recognised gains or losses other than the net increase in funds for the year. The notes on pages 13 to 23 form part of these financial statements.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Balance sheet

as at 31 March 2021

2021 2020
Note £ £ £ £
FIXEDASSETS
Tangibleassets 10 270,792 269,573
Investment 15 447,786 368,692
������������������� �������������������
718,578 638,265
CURRENTASSETS
Otherdebtors 46,156 �
Cashatbank 228,172 131,087
������������������� ����������������������
274,328 131,087
CREDITORS:amountsfallingdue
withinoneyear 12 (13,503) (10,967)
������������������� ���������������������
NETCURRENTASSETS 260,825 120,120
������������������� �������������������
TOTALASSETSLESSCURRENT
LIABILITIES 979,403 758,385
========= =========
CHARITYFUNDS
Restrictedfunds 13 59,385 74,873
Unrestrictedfunds 13 920,018 683,512
������������������ �������������������
979,403 758,385
========= =========

The financial statements were approved by the board of trustees on 2021 and signed on their behalf, by: Chris Hunton Alexander Pickering Chair Treasurer

The notes on pages 13 to 23 form part of these financial statements.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Statement of cash flows

for the year ended 31 March 2021

Note 2021 2020
£ £
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income/(expenditure) for the year (as per the 221,018 (47,295)
Statement of Financial Activities)
Adjustments for:
Depreciation 10 11,742 8,355
Gain/(losses) on investments (47,666) 31,308
Interest received 3 (69) (565)
(Increase)/decrease in debtors (46,156) 1,758
Increase/(decrease) in creditors 2,536 (1,747)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐
NET CASH GENERATED/(USED) IN OPERATING 141,405 (8,186)
ACTIVITIES
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets 10 (12,961) (22,020)
Investment acquisitions 15 (76,809) (327,927)
Movement in cash 45,381 (72,073)
Interest received 3 69 565
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES (44,320) (421,455)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Change in net cash and cash equivalents in the year 97,085 (429,641)
Cash and cash equivalents at 1 April 2020 131,087 560,728
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
CASH AND CASH EQUIVALENTS AT 31 MARCH 2021 228,172 131,087
======== ========
ANALYSIS OF CHANGES IN NET DEBT
At 1 April Cash flows Other non‐ At 31 March
2020 cash 2021
changes
Cash and bank 131,087 97,085 ‐ 228,172
======== ======== ======== ========

The notes on pages 13 to 23 form part of these financial statements.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes

(forming part of the financial statements)

1. Accounting policies

Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Simon Community 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 stated in the relevant accounting policy note(s).

Preparation of the accounts on a going concern basis

Having considered future plans and cash flows, the trustees confirm that they are not aware of any material uncertainties with regard to the entity’s ability to continue as a going concern for the foreseeable future and therefore have prepared the accounts on a going concern basis. The Covid‐19 pandemic has not affected the charity’s ability to continue as a going concern.

Estimation uncertainty

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Tangible fixed assets and depreciation

All assets costing more than £100 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Property ‐ 2% straight line Motor Vehicles ‐ 25% straight line Furniture and Fixtures ‐ 20% straight line

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

1. Accounting policies (continued)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Income recognition

Income is included in the SOFA once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following specific policies apply to categories of income:

Donations & Grants where related to performance and specific deliverables are accounted for as the charity earns the right to consideration by its performance. Where income is received in advance of its recognition it is deferred and included in creditors. Where entitlement occurs before income being received the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Investment income is credited to income when it is receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably.

Expenditure is recognised on an accruals basis as a liability is incurred, inclusive of VAT, which cannot be recovered.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

1. Accounting policies (continued)

Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs. The allocation of support and governance costs is analysed in note 7.

Investments

Investments in financial assets and securities are generally measured and reported at fair value. The initial ‘fair’ value being the original transaction price. Going forward such assets are subsequently carried at the current indicative trading price in the market, which is fair value. Where the asset has a spread the price quoted is the bid‐price. Changes in fair value are recognised in the Statement of Financial Activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Donations and legacies Total Total
funds funds
2021 2020
£ £
Donations and appeals 163,053 155,057
Legacies 194,597 5,188
Grants 21,000 14,000
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total donations and legacies 378,650 174,245
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3. Investment income Total Total
Funds Funds
2021 2020
£ £
Interest receivable 69 565
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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

31 March
Notes(continued)
4. Charitable activities Total Total
Funds Funds
2021 2020
£ £
Rental income from houses 17,230 24,875
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5. Raising funds Total Total
Funds Funds
2021 2020
£ £
Direct fundraising costs 1,200 448
Allocation of support costs 3,314 3,230
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
4,514 3,680
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6. Charitable expenditure–
homelessness activities Total Total
Funds Funds
2021 2020
£ £
Staff costs 94,425 75,966
Direct charitable costs 71,854 87,492
Support costs 18,781 18,311
Insurance costs 19,692 19,138
Governance cost ‐auditors’ 7,560 7,200
remuneration
Management costs 5,771 3,885
Other costs ‐ ‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
218,083 211,992
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16

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

7. Analysis of support costs ‐2021
Charitable
Total		 Total
Fundraising activities
2021		 2020
£ £
£		 £
Communication costs 505 2,863
3,368		 3,986
Printing, postage & stationery 13 76
89		 242
Utility costs 1,229 6,966
8,195		 7,316
Other support costs 20 112
132		 1,628
Governance costs 1,547 8,764
10,311		 8,369
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐		 ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
3,314 18,781
22,095		 21,541
======== =========
=======		 =======
Analysis of support costs ‐2020 Charitable Total
Fundraising activities 2020
£ £ £
Communication costs 598 3,388 3,986
Printing, postage & stationery 36 206 242
Utility costs 1,097 6,219 7,316
Other support costs 244 1,384 1,628
Governance costs 1,255 7,114 8,369
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
3,230 18,311 21,541
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17

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

8. Net income/(expenditure) 2021 2020
£ £
This is stated after charging:
Depreciation of tangible fixed assets:
‐ owned by the charity 11,742 8,355
Auditors' remuneration 7,560 7,200
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9. Staff costs and trustees 2021 2020
£ £
Staff costs were as follows:
Wages and salaries 89,052 72,096
Social security costs 5,372 3,870
Employer’s pension contributions 7,514 5,586
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
101,938 81,552
========= =========
The number of employees during the year was as follows:
2021 2020
Number Number
Charitable activities 3 3
======= =========

No employee received remuneration amounting to more than £60,000 in either year.

Total benefits paid to key management personnel in the year amounted to £37,363 (2020: £36,454).

No remuneration was paid to trustees nor were any expenses reimbursed (2020 – the same).

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The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

10. Tangible fixed assets Freehold Motor Fixtures &
property vehicles Fittings Total
£ £ £ £
Cost
At 1 April 2020 335,442 22,020 2,081 359,543
Additions ‐ ‐ 12,961 12,961
Disposals ‐ ‐ ‐ ‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
At 31 March 2021 335,442 22,020 15,041 372,503
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Depreciation
At 1 April 2020 87,907 1,230 832 89,969
Disposals ‐ ‐ ‐ ‐
Charge for the year 6,709 4,404 629 11,742
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
At 31 March 2021 94,616 5,634 1,461 101,711
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Net book value
At 31 March 2021 240,826 16,386 13,580 270,792
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At 31 March 2020 247,534 20,790 1,249 269,573
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11. Debtors 2021 2020
£ £
Legacies receivable 46,156 ‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
46,156 ‐
========= =========
12. Creditors: amounts falling due within
one year 2021 2020
£ £
Other creditors 1,749 676
Accruals 11,754 10,291
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
13,503 10,967
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19

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

13. Statement of funds ‐
2021 Brought Income/ Carried
forward gains Expenditure Transfers forward
£ £ £ £ £
Designated funds
Fixed assets funds 269,574 ‐ (11,742) 12,960 270,792
New property fund 347,651 ‐ ‐ ‐ 347,651
New website fund 20,000 ‐ ‐ ‐ 20,000
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
637,225 ‐ (11,742) 12,960 638,443
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
General funds
General funds 46,287 443,615 (208,327) ‐ 281,575
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total unrestricted funds 683,512 443,615 (220,069) 12,960 920,018
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

The fixed assets fund represents amounts tied up in fixed assets.

The new property fund represents amounts put aside to purchase new properties in the future. The new website fund represents funds put aside to develop a new website.

Brought Carried
forward Income Expenditure Transfers forward
£ £ £ £ £
Restricted funds 2021
129 Malden Road fund 74,873 ‐ (2,528) (12,960) 59,385
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total restricted funds 74,873 ‐ (2,528) (12,960) 59,385
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total of funds 758,385 443,615 (222,597) ‐ 979,403
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The 129 Malden Road Fund was received towards the regeneration of our 129 Malden Road property. During the year restricted funds of £12,960 were used to refurbish the bathroom facilities at the property. This was transferred into the Fixed assets funds.

Statement of funds ‐

Statement of funds ‐
2020 Brought Carried
forward Income Expenditure Transfers forward
£ £ £ £ £
Designated funds
Fixed assets funds 255,908 ‐ (8,355) 22,020 269,573
New property fund 347,652 ‐ ‐ ‐ 347,652
New website fund 20,000 ‐ ‐ ‐ 20,000
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
623,560 ‐ (8,355) 22,020 637,225
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
General funds
General funds 102,075 199,685 (233,453) (22,020) 46,287
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total unrestricted funds 725,635 199,685 (241,808) ‐ 683,512
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

20

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

13. Statement of funds (continued)

Notes(continued)
13. Statement of funds		 (continued)
Brought Carried
forward Income Expenditure Transfers forward
£ £ £ £ £
Restricted funds ‐ 2020
129 Malden Road fund 80,045 ‐ (5,172) ‐ 74,873
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total restricted funds 80,045 ‐ (5,172) ‐ 74,873
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Total of funds 805,680 199,685 (246,980) ‐ 758,385
========= ======== ======== ======== ========
Summary of funds
Brought Carried
forward
Income		 Expenditure Transfers forward
£
£		 £ £ £
Designated
funds		 637,225
‐		 (11,742) 12,960 638,443
General
funds		 46,287
443,615		 (208,327) ‐ 281,575
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐		 ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
683,512
443,615		 (220,069) 12,960 920,018
Restricted
funds		 74,873
‐		 (2,528) (12,960) 59,385
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐		 ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
758,385
443,615		 (222,597) ‐ 979,403
============
==========		 ========== ========== ============

21

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

14. Analysis of net assets between funds ‐2021

Restricted Unrestricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Tangible fixed assets ‐ 270,792 270,792 269,573
Investment ‐ 447,786 447,786 368,692
Current assets 59,385 214,943 274,328 131,087
Creditors due within ‐ (13,503) (13,503) (10,967)
one year
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
59,385 920,018 979,403 758,385
======== ========= ========= =========
Analysis of net assets between funds ‐2020
Restricted Unrestricted Total
funds funds funds
2020 2020 2020
£ £ £
Tangible fixed assets ‐ 269,573 269,573
Investment ‐ 368,692 368,692
Current assets 74,873 56,214 131,087
Creditors due within one ‐ (10,967) (10,967)
year
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
74,873 683,512 758,385
========= ========== ==========

15. Investments

2021 2020
£ £
Investment funds
As at 1 April 2020 368,692 ‐
Additions 76,809 327,927
Unrealised gains/(losses) on investments 47,666 (31,308)
Movement on investment cash (45,381) 72,073
Investment funds as at 31 March 2021 447,786 368,692
========= ==========
Investment funds consist of listed investments.

16. Related Party Transactions

There were no related party transactions in the year to be disclosed (2020 – the same).

22

The Simon Community Company Number: 01602161 Trustees’ report and financial statements 31 March 2021

Notes (continued)

17. Comparative Statement of Financial Activities

Financial Activities
for the year ended 31 March 2020
Restricted Unrestricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies ‐ 174,245 174,245
Investments ‐ 565 565
Charitable
activities – homelessness activities ‐ 24,875 24,875
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL INCOME ‐ 199,685 199,685
========= ========= =========
EXPENDITURE ON:
Raising funds ‐ (3,680) (3,680)
Charitable activities ‐ homelessness
activities (5,172) (206,820) (211,992)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL EXPENDITURE (5,172) (210,500) (215,672)
======== ========= =========
Losses on investments ‐ (31,308) (31,308)
NET EXPENDITURE (5,172) (42,123) (47,295)
Reconciliation of funds:
Total funds at 1 April 2019 80,045 725,635 805,680
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
TOTAL FUNDS AT 31 MARCH 2020 74,873 683,512 758,385
=========== =========== ===========

23