ACKEE HOUSING PROJECT FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Angus A John IFCCA) Chartered Certtfièd Accountanl 16 Stonèleigh Clos• Luton B•dfordshlrn LU3 3XE
ACKEE HOUSING PROJECT INDEX TO THE FINANCIAL STATEPAENTS YEAR ENDED 31 MARCH 2023 CONTENTS PAGE Managemont Infomiatlon Orgonlsation infomiation Tru8toe8' Annual Report Report of the Indgpendent Examlner Stat•ment of Flnancial Activitie5 10 Balanc• Sheet statem•nt of Cash Flows 12 Notes to the Finanelal Ststements 13-17
ACKEE HOUSING PROJECT FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Reglstered Charlty Number. 286403 Registsred Addr•ss: 103 Stoka NvA7lngton Road London N16 8SX Honorary Offi¢er8: Maggio Sfrverin - ChalrperBon Hazel Ellis - Treasurer Y¥•tts Thomas• Sècr9tsry Bankor¥: National W•8tminstsr Bank 198 Stoke Newington High Street London N16 7GA Indep•ndenl •xamin¢r: Angu8 John FCCA 16 Ston•l•lgh Close Luton 8edford¥hlr• LU3 3XE
TRUSTEES. ANNUAL REPORT ACKEE HOUSING PROJECT YEAR ENDED 31 MARCH 2023 The Management Committee of Ackee Hou%ng Proiecl (who are also Trustees) Fffe$ent their report and examined financial stslements for the year ended 31$1 March 2023. The finanaal stal•ments have been prepared in awordance the acc¢yJMing F4)liaes set out on page 12 and c£Jmpty the thaiilys trust deed and applicab law. S•¢tion A: Referene8 and administratlon details Charity Name.. Athe• Housing ProSe( Registered Charity NU)er. 286403 Prin(ypal Addre85'. 8 Palatine Road Stoke Newington London N16 8SX Charity Trustees". Maggie Severin- Ch)80n Yvette Thomas- Secretsry Hazd Ellis Treasurer Trustees forthe chanty: stIOn B: StruCre. govornance and management Type of governing dment.. Hth¥ the tharty is con5tibJted." Registered Chanty Trustee selection methods". By applicaion an0[ invita*on on skills and experien The Board of Trustee5 (Management Commrtteel meet at least six times per yeor to make dea5ions regarding the running and safeguarding of the assets of the tharity, induding taking reasonable steps to reduce any risk to the Charity and to providtr reasonable assurance that.. Ils assets are safeguarded against unauthoriseil use and dIspotiC Proper accounting reo)rds are maintained and ffinanaal inf¢vr10n is rellae It is operating effiryenty and effethdy It comF4ie5 With relevant laws and regulation
TRUSTEES, ANNUAL REPORT ACKEE HOUSIMG PR(klECT YEAR ENDED 31 WIRCH 2023 Sectlon Struclurn> governance and managemènt Icontlnuedl Trustees ar• unpaid and do not derive any pwsonal benefft frorn the Chanty. The Charity continues suc¢essfvl worknng Telationships Sanctuary Housing Assoaation, Home From Home Housing Assoaalion Ltd and Claudia Jones Organisation. 11 aso maintsined dose links *ith organisations and other thaTrbes working with homele young people. Induding, New Horizon,. Aone in London,. Haringey Adutt Leaming Centre and VulneraFAe Adult Teams. Moreover, due to the continuing effect of the Pandemic on the lives of our dienls. the Project engaged with far more groups and organisations Ihan usual in its attempts lo ensure that the Identified needs of indimduals wtre met Sectlon C: Objectivas and actfvities Summary of the oblects oftho charity set out in Its governing docum•nL' -To promde short tefm ac¢tynmodation for ¥ulnerable single young wLYnen - 17 to 21 years of age in shared acconwnodation. -To proyide information guidan and $upporL to prepare them for move on to indepdent IIWNJ. Public B•nefft ststèmènt: The Trustees of Ackee Houstng Project pay due reg4rd, to guidance in the 2006 Charibes on Public benefft. Continued with the wwsion of a Supported Housing to exisling and new tenants Maintaining a Safe and Sere envirlr1t for u Providing regular key work sessions Ensuring that support an$ are in place and regula wth¥ed Run a combination of vlrykshops and one to one session8 on topiGs such as: Personal DevelopmenL Educab"on. Training In PTeparth"on for EmploymenL One to one sessions on maintaining indimdual. tenancy. prode inform3b.on on Housing Benefit Prowde a reSeement programme for up to six to tenants who moved on suc¢essfiJUy. to INe independenuy.
TRUSTEES, ANNUAL REPORT ACKEE HOUSING PROJECT YEAR ENDED 31 IAARCH 2023 S•etion C: Objectlvts and actlvrties Icontinuedl 2. Preparation for independent Ir¥ing= Encouraged, intro(Juced and signposted indidual5 to key {induding GP'8 Th¥apeub'c Services) and other seNces and hdped them to nagate their way to approprie communty support Ski118 training and Pathways to Further Educab"on. Held work-shops and one to one sessions on Money Management,. Debt Managèment. Introducaion to drfferent Banking arrangements and Payment Systems. Ran workshops and disseminated information on Heath & Wellbeing, Personal Safety, Domestic Vidence, Gender Based Ifiolence.. Relationships. FGM, First and Mentsl Heahh Disseminating infowmation on training oppcKiunilies", vc4unteewing: apwenticeships and assist with job ¥earo 3. Assistance and support lo the V*ider Comnty'. Repaired rdab"onships V1h indiwdu¥l families and comMun"e Prowdeil telephone and fa¢e to face adce and infrKmation to homelw and vUlnerale young peOe vtho contacted the project for support Promded infomation and Signposted a number of indNiduaf5 to other seN¢es in the rjynmunty Disseminating infom)alion on Health and Well-bdn9 Encouraged Communrty Cohesi Promotron ofthe senn.ce V•ithin the general ¢rynrnty
TRUSTEES, ANNUAL REPORT ACKEE HOUSING PROJECT YEAR ENDED 31 MARCH 2023 Section D: Achl•vements and Perfomianco The Charity maintain¢d a SLttessfiJl and posrbve relationship wilh tts Lanolord - Sanctuary Housing Assoaation, thus enabling u5 to succes5fv1ty prOe SupFQrted Housing for young women wilh whom our Charity w(kS. In addition to the loftg4asting effeds of Cowd on the Chaiity's overall perfoanincme generation and the 'cost of liwng ¢yisis' whith affected OLrt uttlity spending, Acee has also faced challenges of stsff retention, the wdlbeing of some of our dients. and the death of of the Charity'3 ICQStandiTrg Trustees. However a great deal was ¥hieved. thanks to Ihe dedication and commitment of our Senior Housing Officer. Ackee remains committed to ensuring that we offer knp aroun support to everyone. We do our best lo ensu that individuals know and feel valued. During the year we continue to support indtvidual young womèn who SLfftèred loss and beaVernenL other5 whose Mentsl Health and general wellbeing has been affecte(I by Covid 19. others Èxperienang finanual hardship and fcxl povety. re3ultt.ng in them having to visit Food Banks for a5515tance. De5piée many drfficJJlties, we continue to work wth Indid018 lo empoer them to move on to independent living. Summary ofthe main achievemerts ofthe thanty during the year. Engaged with several new agenaes, makrng them aware of our Senrice and continued good worf(ing relabonship5 Wth New Horizon Youth Centre. The Greenhouse. Hackntsy Council and Hackney SOCI Services. Ensured that all Hèalth & Safety procedures •rE fdlowed and mainlained in all of our properties. 7 tenants moveil into three of our pr¢)perb"e3. 2 Clients SUPPNted Bereavement I loss. 7 Clients experiencing financial hardship SUpped. Upgrade works undertaken to several properties Training for Staff on new $ollwaTe and new comwkn rAJrd)ased. New serity system installed. 5 Clients supported Move- a(uJmmodation. 6 Clients signposted to other AgenrieslOrganisab"ons for specialist $Upk Appointed a new part-time Housing Officer. IntrodUd new working prath"rs.
TRUSTEES. ANNUAL REPORT ACKEE HOUSING PROJECT YEAR ENDED 31 IAARCH 2023 Sgctlon E: Flnanclal Review 8rlef st#tsment olthe charlty'5 pollcy on reserv•s The charity has a pc4i¢y of unrestrtt#ed reseNe8, whith is mairrtained at a level Suffitient to Cover any unforeseen eVeruae5 for a minimum of six months. The charTty's unrestricted reserves are maintained at a level suffirient to cover the ganiSatIon,5 contraclual commitments induding but nol exdusivety.. Salaries Redundanaes Minor intemal repairs and replar*ment of fumilyre Office running costs and renovabon Prowde for unforeseen expenditure D•tslls of any funds mat•rlally in d•ficlt NIA The Charity's prinupal source of ino)me is derived from rts rental inrne. As suth all relevantlnecessary steps a taken lo ensure that tenants meet their obligation to the Chaiitsl. In the event of any drfficulties, action15 taken to minirnise risk to the Charity. All actiwties and running and Maintenare of the Chartrty is cover•d by the irbcome generated through rents and seNce tharges. The small grants for residents directy to those digitAe and dld not pass through the accounts ofthe Charty. S•ctlon F: Oth¥r optional Infomialion: None Sectlon G: Declaration The trustsos declarn that they have approv the trusteès. report abov•. Signgd on behalf oftho charity's trustees Signatur•{$l Full nam• Posftlon Datè: M Severln Chai erson
REPORT OF TrIE INDEPENDP4T EXAMJMERS TO ThE MEMBERS OF ACKEE HOUSING PROJECT YEAR EI4DED 31 MARCH 2023 I report on acCOts of th8 Tnt kn th8 yw ended 31st Mard) 2023, vthkh are set out on pag¢s9to 16 Rvpectlv• r•spon¥lbllllleJ ot th• Trust••s and EK4mln•r The charivs trustees are r&sFonsible fty the preparat of tha accounts. The charivs lYustee5 consider that an audit is rKJI rEouired for this year under Sectton 14412} of Ihe Chartllos Act 2011 (tha 2011 Act) and th81 an ependent examinalion is needed. Is my mswr4ibdity to: gxamine the accounts uw¥der seckni 145 of the 2011 To follow the prctedures ld dcA4n in the genBral Direcuons given by tho Comrnlsslon under S•ctN)n 1495Xb} of the 2011 Act To $tato vthelher particular malters have com• lo my attefttlon. Basls of Ind•p•nd•nt Ex•rnln•ts R•port My exaMal0 wa5 carried OLrt in acconJ8nce Tmih the General DirÉCaS gfv8n by the Chaiity Commission. An examiTh8tion Indudes a Teviw of the accountirvj records kept ty the charity and a cornparison of the acc4yJnts pr8sent&J those reco(d8. 11 also kncludes consid¢r81ion of any unusual ttems or discbsures in courrts. and seeking eXplabOnS frc4n you as tnJstÈ8S conrMl9 any such matters. The procoduS undertaken Llo not provide all t evldence that would be Tequlred in an audit and ccrwuenuy no opinion is gN8rb lo ther the accounts pr&sent a'true ond fairf vivw and the report is limit&J to tlThe matters sèt out in the statement Ind•p¢nd•nt Examinerf8 Ststem•nt In c¥Jnne¢l¥on with our ex8mlnallon. no matter has come to my attention.. 1. which gives me reasonable uSe to beIve that in 8ny matedal respEct the rwuiroments 18) to keep accountvlg re¢ords in aCCordare V1h Socbon 130 of the 2011 kl,. and {b) to prtspare aceounts vthich 8ectrd th# arwvnting reeords and ¢>)mply the a¢¢ouniing iequlrements of the 2011 h8NE not bew) mel: c 2. 10 Oft our opinion. att8nt¥Jn shLyJJ be in to a woper understsndlrvJ of ihe accounts to be reachÈd. ANGUS A JOHN {FCCA) CHARTERED CERTIFIED ACCOUNTANT le ston•l•lgh Clos• Luton Bodfordshlr• LU3 3XE
ACKEE HOUS14G PROJECT STATEMENT OF FINAJ4CIAL ACTf41trES YEAR ENDED 31 MARCH 2023 4CCthIWG RESOURCES 1kn8s vent recsivabla Less wid$ ard doththd d¢bts N•t rent recei4•b 11b1&6 262,093 89.896 248.976 152723 RESOURCES EXPENDED MargeMenta admiristr8b"4t cost SeNce o)$t HOrg as50csabon thrye5 Totsl 72.573 44.253 71,095 34.769 63 973 Qrdting Lo88 I14.72) 117.1141 11b1&7 Net Lc+SS fof the y•ar Releation R88er F1$ broLyhtforward F$ carried f0Thrd 1216405 £1201883 1233 516 £1216405 TrEre %%re rn re¢ogrysed gairs orbs5 otsrlhanllw ported inlhe slatement offirÉNial Th8 accompa"rj ryJte8fonn anin*gBI part olthe 10
I£KEE HOUSWG PROJECT BALAJ4=E SHEET AS AT 31 PIAR¢H 2023 EMPLOYAIENT OF CAprrAL Fiy£d Assets CURRENT ASSETS Debtots ppaserts Cash ar bark bala89 162,111 193538 14S,435 217617 363 052 URRENT UABILE8 Cre£fitO¥8 arxl acLu15 NET CURRENT Assfrs 1Lk4BILEC TOTAL A&SETS LESS CURRENT UA3LrfES £1 £1 FTr4ANCED BY: Get*Trl FuTrJ 1216405 £1 Appro byts MarBgemerrtCirnitteÉ aThJ sig1 on ils bew. Dale Boardme ..D•te Aq.4 a¢covnp•nJiTrJ nol06 f•mi 8hirtegro1 partofts aux)w
Ac• HOUSING PROJECT STATEMEKf OF CASH FIOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 N(es 0rat1 kns Dewecktijn charge CIBng¢ deFrt( Change creditcys r4et c&sh frDm operatin¥ lIvItIeS (14.702) 15 116.676) {17.1141 19.97T 16.318 111.793} (22.9301 RetunLS on Investments and servic1£ of finanee lrterest recei¥td 180 Investing ActiTrittes Pwchase of otsr fred assets {1,330) 13,3 Net fh oufflow beforr finaDcing P4.1)801 115.16n Fillancing repaid Caixtal DecSe in cash Q4,080) {15,t6n Cash arKI cash equivakrts a( l Apnl 217.617 232.784 Cash a1 cash equt¥Hkrts at 31 March 193,537 217,617
ACKEE HOUSING PROJECT NOTES TO THE FINANCIAL STATEIAENTS YEAR ENDED 31ST MARCH 2023 ACCOUNTING POUCIES (•) Basls of preparntion of accounts The fnanaal statements arÈ prepared under the historical Cost convention and in aOrdan the Statement of Rec¥ynmendad Pracce, A¢o)unting and Reporting by Charrties (SORP FRS102). Ibl Grants and Rent Recelvable Grants and rent receivable are record&Y on the auxual basis vthilst other income 1$ recorded on the cash basbs. Rent receIvae indudes seNi¢e tharges. Deprnciation (cl Depreuation on equipment is cal¢yJlated on the straight line b35is at rates whith are Intend to write off the cDst of the assets over their estimated u3efvl lives. No depreualFQn 15 pmmded on Treehd building as tt is the charity's policy to maintsin the building in such COnd"0n that the value of the building is not impaired by the passage of time. Suth expenditu is tharged to the incomo and expenditwe acoJunL Replacomont and R•waI Costs Idl cats1 expenditure of a cydical nature is thawged to the ineome and expènditure in the year of purchase. {el Fund Accounting Grants and slrnilar income whith are svW"ect to donor imposed restric"ons as to their use and related expenditure are accx)unted for as re5tri(thd fund& Al other income are shown as unreslricted. General funds are unrestricled fijnds whith are availaile for use at the discreti¢)n of the trustees. 13
ACKEE HIXISIIG PR(JJE¢T NOTES TOThE F14ANCIAL STATEIAENTS YEAR ENDED 31 IAARCH 2023 FIXED ASSETS FTrehold COST OR VALUAT (lJeThrvJ baLae Addits"ots fo¥th2 Star 850.0 27.424 1,330 8T1.424 1.330 Cb)sirg bakne ACCUMULATED DEPRECL4TWJM (eniw ba Charge )Ear 20,772 1.59S 20,772 1.596 Ckjgng balar NET B( VALUE a5 at 31stMar¢h2023 £6 386 £856 3 as 8t 31st Marth 2022 £850 000 DEBTORS PREPAYMENTS Rent arTra Le85.'Pro¥i&onlordothfftd debts 175.020 158.344 143.699 127,023 Lor¥J femi h)an 0th8r N)ar 0rdebt0rs pPa)Mrts 18,412 18.412 £162111 £145 435 cREDORs AND AGCRUALS SuThlry L7edIto ar)J acry 14
ACKEE HIXISI4G PROJECT NOTES TO ThE FIIANCLAL STATEMENTS YEAR ENDED 31 •iARCH 2023 UMRESTRICTED FUND lal GENERAL FUND (er1 balar Ne¢rorne ft)rttB ar bakr 366,405 383,516 366 405 (bl PROPERTY Cer•ro balaTr% bnorwa Re%Bknation Cb5irvJ bakKe carried foThdrrl 850,0 850.0 £850 000 £850 000 Th"s IBPserS ts netbook offreeldy prDperty. Totsl FuTrJs £1218 405 desigTrwted thl represert5 reseffts selde lo tthe proJEds corknacknlobhgatior frjr a period of LP to 6 mo 15
ACKEE HOUSWG PR¢XIECT NOTE5 TOThE FPIANCIAL STATEIEiirs YEAR E14DED 31 IAARCH 2023 RENT RECEfVABLE £262 093 £248 976 OThER WCOME klerest Reoi%ed IAANAGEIIENT AND ADMIIISTRATIVE COSTS Salaries ard Wdges Ad%erbsit¥J, priitrg. postsge & stab"orry Tekphre Tra1 ard sth&5ten manageCOrnMilkne eyper Vokntser sLTh1ryeyres TRirur#J Audit arKI accoLmtstKy 46.981 43. 730 3,162 231 210 325 2.476 302 152 1LIJ 950 2.410 924 1,596 239 15.27T 950 2.350 1.600 1.663 ComputerrxJrELVrts Depreuation Ba[ ctharge5 ard interest Legal aj PFDfe5sior¢lfees 15.701 £72 573 8EftvE COSTS CO1 fax Watsr rate$ LiglrtaTrJ heat Repair5, rerMva& ard tharrir¥J 11.833 2.992 2D.616 3.515 13.181 HOUSWQ A8SOCIATION CHAR¢%s 16
ACKEE HCKISIIG PROJECT NOTES TO THE F14ANCtAL STATEIENTS YEAR ENDED 31 MARCH 2023 STAFF COSTS stsff costs fortr perirxl are as [0kn.. Wages saLaries Erph) Nab"onal CorArib.On Pewox contrib01 Ctsr c4Jsts 39,285 4.160 3.536 37,9 3.741 2.318 £46 981 £43 965 ThB aTage rMThbertsfslaff ernpknd bytt prrpddwiTr3 the ar Wa5 2.0120221- 2.01 17