REGISTERED COMPANY NUMBER: 01429772 REGISTERED CHARITY NUMBER:285834 SHIRE TRAINING WORKSHOPS LIMITED TRADING AS OPENHOUSE Report of the Trustees and Unaudited Financial Statements for the Year Ended 31st March 2024 111 •OIIFHnIZ 0811112024 COMPANIES HOUSE 190
SHIRE TRAINING WORKSHOPS UMITED TrADING AS OPENHOUSE Q>ntents ofthe Hr4r*clal Sl•temen YEAR ENDÉD 31 MARCH 2024 Rèport of the Trustees Independent Examiner's Report Staternent of Financil Actmtses Salance Sheet Cash Flowstatement Notes to Cash Flowstatemettt Note5 to the Finantial Statemen Detailed Statement of Financil Artivltes
SHIRE TRAINING WORKSHOPS LIMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 Marth 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2(Ki6, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019). OBJEcfivES AND AcrivrriES Our Wision.. Supportin8 vulnerable people to live full and independent lives. Our Mlsslon: To enable individuals to discover their potential through providin8 a safe environment where they can live, thrive. and receive support to transition to their next step in life. Our Values: Inte8rity We are honest. gracious. and respertful, and committed to working to the best of our abilty. We empathise and feel coMpeld to alleviate someone's suffering. Cornpasslon Excellence We are committed to providing the best quality service to everyone who is part ofthe OPENhouse family. Core Princlples: Holistically supporting vulnerale and disengaged individua15 to become independent. Celebrating individual uniqueness arKI diversity of Servi users and staff.. defflonstrating equality across the organisation. ACptIng everyone for who they are and where they are in their lives. Providing a welcoming Space for all ages io live. thrive. and feel secure. Remaining confident in our own ability to help others and continually developing ways in which we tan improve our service.
SHIRE TRAINING WORKSHOPS UMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 The primary objects of the Charity are: To support people who throu8h their sotial and economic circumstsnces, are in need or unable to gain employment: To help vulnerable people to develop in every area of their lives as they grow s individuals and become attive rnembers of 50ciety' To provide supported hou5in8 to vulnerable people who are in need due to social and economic circumstances: To provide supported housing and floating support to vulnerable people with multiple mental health needs. Charftsble actmtles: OPENhouse provides housing and support for homeless and vulnerable people with multiple and complex needs. Our key aim is to effectively facilitate the transition of our service users from a position of vulnerability and dependency to livin8'fully functioning lives, within their capacity to do so. This 15 achieved in three independent yet interdependent ways through.. Housing and Support for individuals at risk of homelessness or who are homeless. This does not simply involve finding individuals accommodation but working with them to achieve their potential and learn life skills, enabling them to make a positive contribution to the community rather than livin8 a life of dependency: Housing and Support for individuals with mental health conditions. We provide a residential setting within the community where we focus on developing individual ability to manage diagnosed needs. Floating Support Iln-homel for people with complex needs who are living independently. Page 2
SHIRE TRAINING WORKSHOPS LIMrrED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 OBJEcfivES AND ACTIVITIES Public benefit OPENhouse welcomes all people regardless of personal background. faith, gender or personal circumstances and we believe this philosophy of openness to all enriches everyone through the sharing of the skills. values and life experiences. Our 5troud sites provide the local community with centres for a variety of activities and events for many groups. We believe equal access to our services is vttal to our succe55 and that successful outcomes must be shared by all communities that use our services. We believe in working with other organisations to broaden the impact and inlluence we have with the varied people we work. with. Our skills can be applied to all ages and abilities and our service can be beneficial to vulnerable individuals from all walks of life. Each area of OPENhouse works carefully to refine their practice to achieve a careful balance between growing the organi5ation and not diluting the high quality of service delivery or OPENhouse's Mission, Vision. Values and Core Principles. Sharin8 information, knowledge and expertise is crucial to our success and our ability to respond to a rapidly changing landscape. All members of staff and service users are encouraged to be curious. ask questions and be prepared to kindly challenge and discuss to reach agreement as a team. Trustees pay careful attention to the Charity Commissioners guidan on public benefit and the activities carried out are consistent with those requirements. To this end the charitable objectives have been updated on the Charity Commission website. OUR WORK: Enhanced Living and support [EST] The Enhanced Support Team provides specialist support forthose in theirown homes and within our self-contained flats at Delmont's Lot. Throughout 2023124 we supported 2 service users in self-contained accommodation at Delmont's Lot who have -non-comple mental health conditions. 6 individuals have been supported in independent flats and 11 service users Within our floating support 'in-home' service. Most of the individuals we work with have some form of non-complex mental health need. Autism or Learning Difficulties and rely on continued planned support. Recently some residents from Painswick Inn have benefited from usin8 Delmonts Lot as a transition service whilst they are waiting for a permanent provision from the District Council. This ha5 been extremety succe55ful and a service we intend to continue. Page 3
SHIRE TRAINING WORKSHOPS UMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 Marth 2024 Entrenched Rough Sleepers OPENhouse has the facilityto accommodate 10 rough sleepers in Painswick Inn. This Stroud District Council funded project has provided person centred accommodation and trauma informed support and as a result the service has transitioned 7 people during this financial year. In its simplest form this project houses 10 vulnerable rough sleepers taking them off the streets. keeping them safe and supported. The social value of providing accommodation to people who find themselves rough sleeping has a benefit to the comrnunity as well as enhanced individual wellbein& OPENhouse have continued to provide a bed for the {SWEP) severe weather emer8encv protocol scheme throughout the winter. An extremely vulnerable individual has been housed in this facility since March 2023 as OPENhouse were acknowledged to be the only solution for this individual in the County. ACHIEVEMENT AND PERFORMANCE A review of Ihe tharity's business Throughout 2023124 OPENhouse has continued to provide supported hou5in8. and non- complex support for homeless people and vulnerable individuals. OPENhouse is establishing a positive reputation locally for this work and continues to achieve the key performance indicators set by central government funders. Strategically the CEO and Trustees agreed that OPENhouse needed to widen its remit to include all vulnerable people in society which would future proof the charity by being able to respond to immediate local and county needs. The main objectives for the year ending 31 March 2024 were: Ensure our service users are at the heart of everything we do by providing supportive environment where they can live and feel valued. Focu5 on the commuftity we seNe by providing a 5UPPOrtive environment and building relationships where individuals feel safe and where they have the capacity to take ownership of their own thallenges and successes. Maximise income and minimise voids across the charity to be 95% capacity as on average for the year. Review the overall site to complete an investment schedule of work5 in line with Health & Safety gUlations. Page 4
SHIRE TRAINING WORKSHOPS UMITEO TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 Marth 2024 Key Outcomes: Achieve All Age Disabilities Framework Contract Re-Tender Maintain Rough Sleepers Contract tonsistently meeting set KPI's Full H&5 review and assessment of site Begin building project for Direct Access Pod Re-purpose Delmonts Lot communal areas to fvlfil key aims and objectives ACHIEVEMENT AND PERFORMANCE Financial Revlew The Charity's income was £542,199 in 2023-24 against an expenditure of £S17.504 leavin8 a surplus of £24,695 in the year's accounts. The outstanding debtors has significantly reduced due to proactive credit control. OPENhouse has a policy of ensuring that debts are repaid and pursued. and we actively work with each debtor to ensure effettive and sensttive debt recovery. Each department has responsibility for their own budgets and works collaboratively with Senior Management Team to control costs, maximise revenue and proactively seek new streams of funding wherever possible. Incorne The Charity continues to benefit from its property portfolio with Commercial leases, and Hall hlre contributing £66.866. this is slightly reduced due to the loss of a three year lease. Our principal funding streams come from Gloucestershire County Council. NHS and Stroud District Council contracts. Expendlture Central costs have increased to £337.721 this financial year. This year the Charity ha5 written off £1.118 of historic bad debts from previous years within this year's accounts. This is a significant decrease from the previous year. Flxed Assets Total Assets for the year are £1.525,000 which is made up from fixed assets of £1,025,000 and our property investment portfolio of £51xI,000. The Company applies a strai8ht-line depreciation rate of 20% to plant and machinery and 15% reducing balance to fixtures and fittings. Pa8¢ 5
SHIRE TRAINING WORKSHOPS UMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES forthe Year Ended 31 March 2024 The current assets stand at £170.035 with current liabilities of £75,779 with long term liabilities of £0. The lon8-term liabilities have reduced to zero as the mortgage on FINANCIAL REVIEW Reserves policy The target for reserves not committed or invested in tangible fixed assets held by the charity should be a minimum of 3 months expenditure for charitable activities. The Trustees view a target of £IOO.000 in cash funds being desirable. with £60.(X)O being required to cover three months full staffing costs. The present level of cash furnds is £154.021 which is an increase on last year. STRucfuRE, GOVERNANCE AND MANAGEMEKr Governlng document The or8anisation is a charitable company limited by guarantee. incorporated on 15 June 1979 (Company Number 014297721 and registered as a charity on 29 November 1982 Icharity Number 2858341. The company was established under a memorandum of association. which established the objects and powers of the charitable company and is governed under Its articles of association. Recruitment and appointment of new trustees Trustees can be appointed by the existing Trustees at any time throughout the year to fill a vacancy or by way of an addition to the board provided that the prescribed maximum 1121 is not thereby exceeded. The appointment shall be retained until the next Annual General Meeting IAGM) when they will be eligible for official election. Trustees delegate responsibility for the day-to-day management and running of the charity to the Chief Executive Officer (CEO) and the Senior Management Team {SMT). Trustees review major strategic, business and operational risks which the charity may face and ensure the required regular reporting procedures are in place enabling any risks can be identified and minimised. Throughout the year Trustees are given the opportunity to attend relevant training courses. including Governance and Safeguardin& Trustees perform their governance role in line wtth the Charity Commission's guidelines. Trustees meet on a bi-monthly basis providing specialist information and strategic support, in line with their skills and expertise. Page 6
SHIRE TrAINING WORKSHOPS UMIYED TRADING AS OPENHOUSE REPORT OF THE TRUSTEÉS for the Year Ended 31 March 2024 Organlsatlonal Revlew The most Significant challenge for OPENhouse this reporting year ha5 been the recruitment of new staff and retention of existing staff. Staff numbers at OPENhouse have reduced due to streamlining our service5 and a reduction of commissioned hour5 for our enhanced support residents. Outsourcingoperational functions including HR, H&5 and IT allows us to access skills and expertise that would be cost prohibttive in house. The finance function has been bou8ht back in house due to needing an in-depth understanding of the charity and proactivity with regards to service user debt management. The main challenges facing local authorities and Service providers includes. reduced 5TRucfuRE. GOVERNANCE AND MANAGEMEKr Strategic Direction Focus on our 5troud based work with vulnerable people, particularly the entrenched rough sleeper cohort. Ensure our vision and values are evident in everyday working practice and procedure. Agree a new strate8ic direction for OPENhouse in light of local changes and need. Build key relationships with the County, District and Town Council and organisations that support ourwork and align to our values. Develop new digital frameworks to help staff carry out their day to day work more efficiently. Better utilise our website and social media to educate and promote our work. Improve staff training and development opportunities to ensure employees feel well equipped and prepared to deltver an excellent high- quality support service. Partner with organisations to help us improve our offer to Staff and Clients. Ensure OPENhouse is financially sustainable for the future. Rlsk Strate8y The charity's most significant financial risk is proterting present and future sources of income and its resources. followed closely by control of the processes for paying the organisation's liabilities. Page 7
SHIRE TRAINING WORKSHOPS LIMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 As the current cohort of residents has changed to a more chaotic entrenched client base we are at an elevated risk of increased debtors and room damage. Procedures and- processes have been amended to include tighter screening and should assist to mitigate risk. Reduced staff numbers means consequently fewer individuals hold more knowledge. To reduce operational risk, outsourcing key operational functions such as accounts, IT and HR reduces the risk of interruption to service delivery should key staff members leave the or8anisation. As expenditure on capital assets will be required to maintain the listed buildings. it is important to ensure investment in maintaining our listed buildings by completing remedial work to avoid high structural costs in the future and avoidance of contravening Health & Safety policy. STRUCTURE. GOVERNANCE AND MANAGEMENT Adminlstratlon and staff The SMT meet once a week to plan, make decisions and review performance across all charitable activities. All key management and strategic decisions are reported to the Board of Trustees in report form at bimonthly minuted meetings. P*g¢ 8
SHIRE TRAINING WORKSHOPS LIMITED TRADING AS OPENHOUSE REPORT OF THE TRUSTEES for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DEfAILS Re8iStered Company number 01429772 {England and Wales) Reglstered Charlty number 285834 Reglstered office Painswick Inn Gloucester Street Stroud Gloucestershire GLS IQG Trustees R Brinton (Resigned 13 June 20231 S Elliott-mead J Harrison A J Warner Independent Examiner Miss Sallyj Wainwright ACMA Isis House smith Road Wednesbury WSIO OPB Chief Executive Officer Anna Herbert Approved by order of the board of trustees on its behalf by". .J l.o..i..J. 2oLg..... and signed on S Elliott-mead - Trustee Pa8¢ 9
INDEPENDENT EK4MINERS REPOATTO THE TRUSTEES OF SHIRE TRAINING WORKSHOPS UMITED TRADING AS OPENHOUSE Independent examiner's report lo the trustees of Shlre Tr4lnin¥ Workshops Limited I'the CompanVI I report to the charity trustees on my examination of ihe accounts of the Company for the year ended 31 March 2024. Respgn51bllftles and basls of report As the charitV'S trustees of fhe Comparty land also its directors for the purposes of company lawl you are responsible for the pParatIon of the accounts in attOrdan with the requirements of the Companles A¢t 20061.the 26 Att'l. Having satisfied myself that the atcounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent exarnination, I report in re5pert of my examination of your charity's accounts as tarried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carryin8 oul my exambnation I havÈ followed the Oirections gtven by the Charity Commission under section 145ISI Ibl of the 2011 Act. lThlependent examirw's statement Sinte your charity's gross income e¥ceeded E250,CO) your examiner must be a member of a listed bo¢fy. I can confirm that l am qualified to undertake the examination because l am a re8iStered member of Institute ofchartered Management A¢¢ountants. whith is one of the listed bodies. I have completed my examination. I confimi that no matter5 have come to my attention in connection with the examination 8ivin8 me ouse to believe: accounting records were not kept in rwrt of the Company as required by 5ectiort 386 of the 2C4J6 Art; Or the accounts do not accord with those re¢ord5: or the accounts do not Comply with the accounting requirements of sedion 396 of the 2006 Act other than any requirement that the account5 give a true and fair view whith is not matter ¢onsidered as part of an independent examination- or the accounts havè not bÈen prepared in accordante with the methods and principles of the Statement of Recommended Practi for accounting and reFrtIng by charities (applicable to ¢haritie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepublTr¢ of IreIar IFRS 10211. 121 141 I have no concerns and have come across no ¢)ther matters conne¢tion with the examinatM)n to which attention should be drawn in this report in order to enable a proper understandirva of the accounts to be reathed. Sally J Wairhwfight ACMA- Et v13 Accountancy servi Limtied Isis Business Centre, Smith Road. Wednesbury. WSIO OP8 22nd AuÉust 2024
SHIRE TRAINING WORKSHOPS UMITED ThADING AS OPENHOUSE STATEMENT OF FINANCIALACTWMES FOR THE YEAR ENDED 31 Marth 2024 Totsl Funds Total Funds F•Jnds Funds Z024 2023 INCOMEAND ENDOWME14TS FROM Donations and legacies 855 855 1.415 Charitable artlvltes Housin8 and supwt Enhanced support Supporting People Investment Income Other Income 344.338 1.079 86.C(11 344.338 44.139 86.C#)i 66,866 235.942 59.327 77.041 70.295 43,( TOTAL INCOME 499.139 43.060 542.199 444.OZQ EXPENDITURE Aaisin8 Funds CbarttableArtl¥lt45 Housing and support Enhanced support Education Central and Support Costs 172.638 7.145 172.638 7.145 142.380 172.074 294.661 43.C 337.721 145,( TOTAL EXPENDITURE 474.444 517.504 459,454 NEf INCOMEIIEXPENDITUREI 24.695 24,695 115.4341 RECONCILIATION OF FUNDS Total TOTAL FUNDS CARRIED FORWARD 1.619256 1ffi19256 L594.561 P4el
SHIRE TRAINING WORKSHOPS UMftED TRADING AS OPENHOUSE BALANCE SHEEr 31st March 2024 Unrestrlrted Funds Restricted Funds 31.3.2024 31.3.2023 FIXED ASSETS Tangible assets Investment Property 12 L025mO soo.(w)o L525.1 1,025,000 51x1,000 L525,000 1,025,000 5LK).000 1,525.000 CURRENT ASSETS Debtors Cash at bank 16A114 141M21 16,014 154.021 22.282 137.533 IS7.035 .000 170,035 159015 CREDITORS: Amounts f•lllng due within one year Is 162,779) its,000) 175,n91 135.7831 NEf CURREt4T ASSErs 94.256 94,256 124,032 TOTAL E[S LESS CURRENT LIABIUTIES 619 CREOITORS Amounts falling due after more than one year NEf ASSETS 16 154.471) 1.619.2S6 1,619,256 1,594.561 FUNDS Unrestri¢ted funds General fund Restricted Funds I19,256 1,594,561 TOTAL FUNDS 1.619.256 1.594.561 The charitsble company is entitled to exemption from audit under Seciion 477 of the Companies A¢t 2(116 for the year ended 31 March 2024. The members have not required the company to obtsin an audit of its finan¢ial statements for the year ended 31 March 2024 in accordance with Sertion 476 of thÈ Companies Act X*J6. The trustees acknowledge their responsibility for al ensurin8 that the charitable company keep5 ac¢ouniing records thai comply with Sections 386 and 387 of the Companies Ad 2006 and bl preparing fin•ncial 5tatemenis whi¢h give a tnte artd falr view of the state of affairs of the charitable company as at the end of each finanoal year and of its surplus or deficit for each financial yèar in accordance with the requirements of Sections 394 and 395 and which otherwise compty with the requirements of the Companies Act 2006 relating to financial statements. $0 far as applicable io the chafltable comparly. These financial statements have been prepared in ac¢ordan¢e wtth the prlSIonS applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees on tst September 2024 and were signed on Its behalf by- S Elliott Mead- Trustee Page I
SHIRE TRAINING WORKSHOPS UMITED TRAOING AS OPEIIHOVSE NOTESTO THE SH FLOW STA7EMEI4T for the Year End 31 Marth 2024 I. RECONCILIATION OF NEf EXPENOIWRE TO MEfcASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net expenditure for the reportSnE perlod {as per the Statement of Flnancial Aciivltknl Adjustmènts for: Depieciation charges L0s5llprofitl on disposal of fi¥ed assets Interest paid Decrease in debtors Decrease in creditors 24.695 14,091 2,394 6.268 114.4751 4,485 Net cash provlded byoperatlons 18,882 18.576 2. ANALYSIS OF CHAPIGES IM NET {OE8T)IFUNDS AT 1.4.23 Cash Flow 31.3.24 Net Cash Cash at bank and in hand 137,533 16.488 154,021 137.S33 16.488 154,021 Oebts falling due within l yeai Debts falling due after I year {35.7831 {54.4711 39,996 154.4711 175,779) 14.475 75.779 Total 47.279 78,242 Page I
SHIRE TRAINING WORKSHOPS UMITED TRADING ASOPENHOUSE Note5 to the financial Statements For the yeaT e•Mled 31 March 2024 ACCOUNTJNG POUCIES Basls of preparlngthe finandal statements and asse55meni of Koin8 concern The financial statements of the charttable company. which is a publi¢ benefit entity under FRS 102, have been prepared in accordance with ihe Charities SOAP IFRS 1021 'Accounting and Reporting by Charities-. Statement of Re¢ommended Practice applicable to charities preparing their a¢counts in a¢cordance with the Financial Repofting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reportin8 Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Irdand. and the Companies Art 2LI)6. The finanaal statements ha¥e been prepared under the historical Cost conwition. The trustees consider that there a no material uncertaintie5 about the charity's ability to continue as a going toncern. Income All income is re¢o8Trised in the Statement of Financial Artivities once the charity has entitlement to the funds, it is probable that thè intome will be received and the amount can be measured re5iably. E¥pendlture Liabililie5 are recoBnised as expenditure as soon as there is a legal or construrtwe obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the arnount olthe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has bÈen dassified under headtngs that aggregate all cost related to the category. Where eosts cannot be dirertly attributed to particular headings they have been allocaied to a¢ti¥ities on a basi5 consistent with the use of resources. Tan8lble flxed a55ets Depreciation is provided at the foll¢)wing annual rates in order to write off each assÈt tsr its estimaied useful life. Plant and Machinery- at varying rates on ¢osi No depreoation is chaTge(l in respect to freehold land and buildir Investment propertv Investment property is shown at most recent valuation. Any a88regate surplus or deficit arisin8 from chan8es in fair value is recognised in the Statement of Finanoal Activities. Taxatlon The charity is exempt from corporation tax on its charitatAe actities. Oebtors Trade and other debtors are recognised at the settlerrtent amount. Prepayrnents are valued at the amount prepaid. Cash at bank and in hand ash at bank and in hand in¢lude5 cash, current bank accounts and deposit bank accounts with no withdrawal limitations. Page I
SHIRE TRAINING WORKSHOPS LIMITED TrADING AS OPENHOUSE Notes to the IInancl Statements CredStors Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obltEation can be rneasured or estimated reliawy. Creditors are recognised at theif settthent amount. Fund •ttountlnz Unrestricted funds ¢aft be used in accordance with the tharitsble objertNe5 at the discretion of the tru Restrirted fvnd5 can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted Further explanation of the nature and wrpose of each fund is induded in the noies io the financial statements. PenOn costs and other post-retlrernent benefits The charitable company operates a dèfined contribution pension scheme. Contributions payable to the charltable company's pension scheme are charged to the Statement of Financral Attivities in the period to which they relate. Slgnlficant e5timate5 and judgments Preparation of the financial statèmènts rÈquirÈs management to make significant judgments and estlmates. The itern5 in the financial statements where these Judgments and estirnates have been Useful economic livès of tangible assets Significant e5tlmates and ludgments the annual depreciation Chaige of the tangible assets are sensitNe to change5 in the estimates useful economic lives and residual value of the assets. The useful economic lives and residual values are amended when necessary to reftect current estimates. economic utili5ation and the physical condition of the assets. See the Tangible Fixed Asset note for the carryin8 amount of the assets Impalrment of debtor5 The charity makes an estimate Df the recoverable value of trade and other debtor5. When assessing impairmeftt of trade and other debtors. management considers fa¢tOfS including the current credit rating of the debtor. the aging profile of debtor5 and historical experience. See the Debtors note for the carrying value of debtors after the a0Clated impairment ACCOUNTING POUCIES IttInUeI F5nanclal Inslruments The charity only has finanoal a55ets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transactlon value and subsequently measured at their settlement value. Page 2
SHIRE ThA5NING WORKSHOPS ED TRADING ASOPENHOUSE Notes to the financlal Statemenls 2. DONATIOPIS AND LEGACIES 31.3.24 31.3.23 Donations Grants 855 786 629 8SS 1.415 Grants receNed, included in the above, are as foll(x¥s: 31.3.24 31.3.23 Covid Grant- Government funding Columbia Threadneedle CIG Work Force Capatity fundin8 629 3. INvÉsfMENT INCOME 31.3.24 31.3.23 Rents Recelved Interest Received 64.077 2,789 70.004 291 66.866 70.295 INCOME FROM CHARITABLE Acnvff 31.3.24 31.3.23 Activity Housing and support Housing and 5UPPOrt Enhance(I support Supporting People Residents Rents & Charges Enhanced Support 86.1 344,338 44,139 77.041 235.942 59,327 474.478 372.310 5. RAISING FUNDS Raisin8 donatlons and le8xies 31.3.24 31.3.23 Fundraising Costs P4ge 3
SHIRE TRAINING WORKSHOPS UMITED TrADING AS OPENHOUSE Notesto the financial Statements 6. CHARITA8LE AcfiviTES COSTS Direct Costs Support Costs Isee note 71 Totals Housing and support Enhanced support Central and Sijpport Costs 172.638 7.145 294.661 172.638 7,145 337,721 43.OEQ 474,444 43.060 S17.504 Pag¢ 4
SHIRE TRAINING WORKSHOPS UMITED TRADING AS OPE14HOUSE Notes to the flnancla stsiements 7. SUPPORT COST5 Finan Governance Totals Housin8 and Support Enhanced Ctssts Central and support costs 9.035 9,035 340 340 33,685 42,720 34.025 43.060 8. NEf IMCOME/IEXPENDifuRE) Net in¢¢)me/lexpenditurel is stated after charginyjlcrediting): 31.3.24 31.3.23 Depreciation owned assets IDeficitllsurplus on disposal of fixed assets Independent Examination 415 9. TRUSTEES REMUNERATION AND 8ENEFtrs For the year ended 31st March 2024, theie was £33.3l2o23.. £17.() paid to tfustee as con5uliancy fees as the trusiee spent a considerable amount of time within the charity- Trumees, expe1$ There were no trustees, expenses paid for the year ended 31 March 2024 nor for year ended 31 March 2023. Key m•na8ement p¢r%141nel The remuneration lor the key management personnel amounted to £73,32912023.. £63.1041 . The key management personnel comprised of the CEO and servi Delivery Manager 10. STAFF COSTS 31.3.24 31.3.23 Wages and salariès Social Security Costs Other pension costs 281.723 13,521 7,145 276,926 6,670 8.009 302.389 291.605 The avera8e rnonthty number of employees during the year was as follows: 31.3.24 31.3.23 Housing Adminstration No employees received emoluments in excess of £60.tJX). Pa8¢ 5
SHIRE TRAINING WORKSHOPS UMifEO TRADING AS OPENHOUSE Note5 to the financial Statements 11. COMPAIiATIVES FOR THE ATEMENT OF FINAMCIAL ACTivmES Unrestrlcted Funds Ilestrlcted Funds INCOME AND ENDOWMENTS FRIJM Donations and le8a¢res 855 CharltableaLthltes HOU# and support Enhanced support 430,339 44.139 Investment Incorne Other Income 64,077 2.789 TOTAL INCOME 542.199 EXPENDITURE Ra151n8 Funds Charitable Actlvltes Housing and support Enhanced support Central and Support Q)sts 172.638 7.145 337,721 TOTAL EXPENDITURE 517,504 NEf INCOMVILXPENOITURE 24.695 REC014CIUATKIN OF FUNOS Total funds brought fonvard TOTAL FUNDS CARRIED 1.619.256 12. TANGIBLE FIXED ASSErs Freehold Property Plant and Mathinery Fixture5 and Fittings cosr OR VALUATIQM At l April 2023 1,025.((rfJ 23.590 97,704 At 31 March 2024 1.025.DcKJ 23.590 97.704 DEPRECIATION At l April 2023 At 31 Marth 2024 23.590 97.704 NEf BOOK VALUE At 31 March 2024 1025 000 At l April 2023 1.025,OCKJ P4ge 6
SHIRE TRAINIIIG WORKSIIOPS LIMtrED TRADING AS OPENHOUSE Note5 to the flnandal Statements 13. INVESTMENT PROPERTY FAIR VALUE At l April 2023 At 31 March 2024 NET 800KVALUE At 31 March 2024 S.)0 At l April 2023 SLKI.000 The propÈrty wa5 valued by an independent valuer as at 23 May 2018 For the purposes of the financial statements. thè directors took thice from an ndependent fjmi of Surveyors an asset values as at 31st Marth 2018. The numbers reported and the rÈvaluations reflert the discussions with and the opinion of the Surveyof. as pemiitted by FRS 102. 14. DEBTORS: AMOUNTS FALLING DUE wrniiN ONE YEAR 31.3.24 Trade Debtors Accrued Intome Prepayments 15,514 sc 16.014 IS. cREDOR5. Amoufus FALLING DUE WIThIN ONE YEAR 31.3.24 31.3.23 Othèr Loans15ee note 171 Trade Creditors Deferred Income Social Security and other taxes Other creditors Dèposits Fleld Accrued Expenses 8,580 18.068 .111 63,IXXI 3.117 1.081 70 4,588 4,147 75.779 35,783 I& CREDITORS: AMOUNTS FAWNG DiIE AFfER MORE THAN 014E YEAR 31.3.24 31.3.23 Other Loans Isee note 17) 54,471 Pa8e 7
SHIRE TRAINING WORKSHOPS LIMITED TrADING AS OPENtrIOUSE Notes to the finantial Statements 17. LOAPIS An analysis of the maturity of loans is given below= 31.3.24 31.3.23 Amounts fallin8 due within on year on demand= Other loans 1-2 years 8,580 Amounts falling between two and five years.. Other Loans- 2-5 years 34.322 Amounts falling due in more than 5 year5= 20,149 The HSBC Loan (Oelmotsl is secured over the freehold property known as Delmovs Lot, 57a H Street, Stroud. The HSBC loan secured a8ainst a8ain5t the above property was fully paid in 2024. 12023-. ÉY.4711. The property valuè of E425.oc was valued by a professional valuer on 23 May 2018. I& MOVEMENT IN FUNDS At 01.4.2023 Net movement in funds At 31.3.24 Unrestrlcted Funds General fund L594.561 24.695 1.619,256 L594.561 24,695 1.619.256 19. RELATED PARf¢ DISCLOSURES There were no related party transactrons for the year ended 31 Marth 2023 Of 31 March 2024 Page 8
SHIRE TRAINING WORKSHOP5 LIMtrED TRADING AS OPEIIHOU5E DetailÈd Statement of Flnanclal Artl¥itie5 for th• Year Ended 31 Mafth 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS OONAnONSAND LEGACIES Donations Recovered Expenses Grants 855 786 629 855 1.415 Ir•vESTMENT INCOME Rents retèiv Other income 64,077 2.789 70.004 291 CHARITABIE AcnvmE5 Learnèr Funding Supporting People Residents Rents & Char8es Enhanced Support 86.1 344,338 44.139 77,041 235.942 59.327 474,478 372.310 Toi•l In¢omln8 resources 542.199 444.020 EXPENDITURE Charltable actl¥tFes Wages Social Security Costs Pensions Rates and Water Insurance Light and heat Telephone Postage and 51aiionary Sundries Staff Recruitment and Trainin8 Travel Expenses Small office equipment Compvter Software Property Upkeep ead debts Oirect Activilie5 Costs 281.723 13.521 7.145 20.288 19.666 24.421 4.523 752 473 1.332 i.sii 4,(K17 8,595 85.029 1.1 275,427 7.795 7.074 11.352 1,884 26,183 4.351 1.103 892 718 2.810 62,993 9.646 412 228 Page I
SHIRE TftAINING WORKSHOPS UMtTED TRADING A5 OPENHOUSE Detalled Statement ot Flnat)tial Acthlti for the Year Ended 31 Marth 2024 {continvedJ Support Costs Anance Bank Charges 820 31.3.24 31.3.23 F5nance G¢)vernance Costs Sundries A¢countan¢y and legal fees Professional Subscriptrons Consultancy Fees External Compliance Office Equipment Fixtures and fittings Bank Loan Interest 372 13 400 653 6.234 6.809 17,CiX) 6.273 33.3 8.912 2,394 43.C60 46,406 Total resourre5 expervled 517,504 459.454 Net Incomellexpendtturel 24,695 115.4341 Pa8¢ 2