Charlty roglstratlon number 0297806 Company registration number 02164150 IEn9land and Wales) HOMELESS OXFORDSHIRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HOMELESS OXFORDSHIRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Kale Hood Frank Webster Anthony Al8x8nder Robin Rogers David-Huw Owen David Cryer Pamela Roberts Clare Perilon Carol Sweelènham (Appointed 29 November 20231 (Appointed 13 March 20241 Chlof ex•cutive offi¢¢r Simon H8Wetl-Avison Charlty numbgr 0297806 Company number 02164150 Rt9bStered office O'Hanlon House Luther Slre8t Oxford OX1 1UL Auditor Critohleys Audit LLP Beaver Hous8 23-38 Hylhe Bridge Street Oxford OX12EP Invèstment managers Cazenove Capital Management Limited 6 Wor¢esler Street Oxford OX1 2BX
HOMELESS OXFORDSHIRE LIMITED CONTENTS Page Trustees, report Slalement ol Trustees. respollsibililies Independent auditor'5 r8POrt 9-12 Staternenl of financial activities 13 Balance sheet 14 St8t8m8nt of cash flows Is Notes to the financial stalements 16-37
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Truste85 present their annual rgport and financial statements lor the year ended 31 March 2024. Tho financial slalements have been prepared acc£Yd8nce with the accounting policies set out in note 1 to the financial slalemenls and cotnply with the Charity's governing documeni, the Companies Act 2006 and "Accounting and Reporting by Charit$.. Slatemenl ol Recolnmended Practice applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities The charity continued to be governed by its agre8d Mission, Aims and Objectives during the year, These are as follows.. Our mlsslon.. To provide short term aceomrnodalion with access to high qualily support and initiatives that enablo homeless P60pI8 to have a sale space in which they can begin to t8ke control ol their own lives. Our aim.. The charity's aim is through the provision of a wide rangè of different types of a¢comrnodation homele5S People will earn how lo m8nage a tenancy. h8ve improved sell-e5teem, a MO positive s611-id8ntity and gain the skills that will enable Ih8m lo move on. live and succged wilh greater independen. Our objeotlves.. Swift. effeclive, creative and lasting SponSe8 that support sin9le p80ple who find themselves horreless, including.. Providing a range ol housing with high quality support. creating individual solutions lo individual needs. Encouraging and supporting homeless people to lake up training, education and activities. The provision of a facility lor the work of the Luther Street Medical Practice. Influencing PutlC provision and policy by highlighting the soeial impact ol our work. Working in partnership lo best meet the ne8ds of homeless peoplè. Raising awareness and dUcIng the stigma ol hornelessness and beeomillg the charity ol chole9 of local peopl8. These objectives were achieved principally through the provision ol O'Hanlon House Hostel and through a range ol projects in our communily-based accommodation. We provide a total 01173 beds throughout our oroanisation. Valuè Statem8nt Homeless Oxfordshire is driven by a Sel of values and firm beliefs. We are bold. There is always the potential for things tr> be different. We lake risks and challenge stigma. systems, and discrimination. We are inclusive. Everyone deserves a chance. We don't give up on people and always rèspond lo their needs. We care. We can make a difference. We use kindness and compassion when it is needed most. Public Bgngflt The Trust8es have paid due 9&r to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT> (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Review of Actlvlties With ovèr 35 years. experien, Hom&less Oxfordshire 15 a successful organisation that has developed a con5id8rable understanding of the specific needs ol single. homeless and vulnerable adult5. The charity ha5 strong track record of providing a raHg8 of specialist servic85 Wlthin a psychologically informed environment and managing a significant portftslio of accommodation to meet these needs. All ol our charitable activib'es focus on supporb'ng single hoMesS people to develop the skills and resilience lo bring about change in their live5. As the largest provider ol accommodation fc>r single homeless peOe in Oxfordshire each night we prowde beds for 173 people. Through 8 range of innov8liv8 housing projects, we provide support lo help people re-build their lives. Our projects include.. Housing First. Comrnissiongd by the City Council this project provides 5 sell-conlained studios or flats lor people who have been enlrenched rough sleeper5 using the Housing Flrst principles in relation lo support. Sapling. Commissioned by Public Health this project provides 7 bed spaces for clients who are in recovery from drug andlor alcohol dependency and have completed a period of residential detox treatment or rehabilitation. Vineyard. Comrnissioned by the County Council this project provides 14 bed spaS lor cli8nt5 in the South & Vale District. The provision eaters for a variety of needs. Project 41. Commissioned by the City Council this p¥ojecl provides 41 rooms over 8 houses. Thirteen rooms are allocated lo clients wilh low-medium support needs and 28 to those with medium-high support needs. Women's Proje¢L A supported housing project lor wornen only, providing 5 rooms in 8 shad house. O'Hanlon House Hostel. a 54 bed hostel for clients that may have been rough sleeping and whts have cornplex needs. Due lo the Ongng effects of the Covid pandemic. however, we are now operating this as a 51 bed unit by reducing our double occupancy rooms to Single use only Mawle Court. This is a projecl based in Banbury which we look over in late 2021. Chefwell District Counal commission 10 of the 28 beds al thi5 Slte, with a further 4 being mov8-on. The are an addllional 14 beds which are being used for people within our Step-Down project. Step-up and Step.down. These projects work with people either leaving hospital to provide 8 safe space lo slay whilst working Dn a longer-l&rm move on plan. or working with p80ple to try and reduce hospitals admissions.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Future Developments Across the county wa continue lo see Ihe number of people rough sleeping, using lempoiary accommodation and facing homelessness increase. This puts a gr8ater pressure on the demand for our s¢rvices and makes It challenging to meet the needs ol our resident5. Our passionate and committed staff team continu& lo go above and beyond in these difficult lirnes. We hav8 spent lime this year looking to the future, making sure we are doing the best we can lor our residents. working well in partnership and rnaking the most ol our valuable bul finite resources. We have launched a new stfa18gy and have three arèas of focus from 2024-2027., Speclallsad Housing and Support - Putting lived experience at the heart ol all we do, we will be the experts in delivering high quality Iraurna informed support for people lacing multiple disadvantag8 across Oxlordshire. Home5 and proporty- In collaboration with local authoribes. registed providers and private landlord5 we will give people the opportunity to live ill a place they feel sale arid secure, and which provides the stability th8y need to take their next sleps. Resilience and 5UStainability- We will bLJild 8 brilliant organisation with strong leadership and govemance. W8 will grow and diversify our income whilst managing our costs and minimising our impact on the environrnent. It is no doubl Ihat the ctstlling year with many uncertainties will provide further challenge bul we are in a good rKJsition lo react and eontinue to provide vital housing and support lo many of the most vulnerable people in Oxlordshire. In¥85tment Activltles Surplus moni8s 3re invested in line wth the Charity's investrnent policy wilh Cazenove Capital Management. Market value of the investments at 31 March 2024 is £571,902. Factors in and out of Charlty's Control The financial climate remains very insecure lor on-going and sustainable public aulhorily funding. The 2024 UK General election is likely lo influence future levels ol financial support for Ihe homeloss. and there will be Impacts in terms of client need or In letms of a changed financial land5¢ape due lo the continued uncerlainlies regarding Brexit, the war in Ukraine and the continuing cost ol living crisis. Reserves Policy The charily's funds are meant lo be spent on charitable activity lo the benefit ol people experiencing homelessne5S across Oxlordshire. The Reserves Policy aims to ensure the charily's work is protected frorn the risk ol disruption due to lack of funds whilst al the same lime ensuring surplus income is nol retained lor longer than required. Th8 Qharity segregates its funds into restricted and unrestricted funds. Within unreslricled funds certain designated funds are sel aside for specific purposes. There are currently 2 designated fvnds.. A fixed asset fund and a Luther Street Medical Fund. Unreslricled funds excluding the Designated lund5 are ¢la$5ed as'Free Reserves.. Homeless Oxfordshire lakes a risk-bas8d approach lo selting it5 Reserves Policy and 18views this al least annually. Based on th8 latest risk assessment the Trustees have concluded the organisatiori should hold Free Reserves In a range of £900,000 to £1.200,000. This equates to 2-3 months 8xpenditure. The charity's income and expenditure are closely Iillked and therefo this is deemed sufficient lo salegkjard the organisalion. More details can be found in the Homeless Oxfordshire Reserves Policy The Iruslees are going lo review Ihe SerVeS policy in the second half 012024. Free Reserves as at 31 March 2024 were £1,505, 178, c£300.000 above the policy range. The charity expects lo utilise these excess reserves on charitable activities over the next 1-2 year5.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Pay and Reward Homdess Oxlordshire is comrnitted to tr8nsparency and legal compliance. The Charity aims to pay its staff in an equitabl8 and eonsistenl mannèr at a level which promotes recruitment and retention in a high cosl area. Homeless Oxfordshire is an Oxford LNin9 Wage employer and so all staff 8re pald al this rate or higher. Homeless Oxfordshire provides a supportive and caring environrnenl for it5 Staff together with opportunities lor personal and professional developrnent. During the y8ar we have continued lo invest in staff by introducing a new r8fleclive practice lor Ironlline staff, launching an online Human Resources platform, reviewing job descriptions across the organization, and conducting a series of wellbeing surveys. The comparator markets for Homeless Oxfordshire are the local and national horn8185s hostels. fl08ting support serVi(S and supported housing projects. The values of Homeless Oxlordshire are reflected in Job Descriptions and Person Specifications lor a11 roles within the organizalion. As such. il is clear to all employees what skills, experiences, behaviours and culture are v8lued. Income. Expenditure and Results Thè charity ach18V8d a delicil of £101.191 in the year. We have nol needed to recogni5e any actuarial gain or loss in 2024-25 123-24 gain of £427,000) on the defined benefit pension scheme. Going Concern After making appropriat8 enquiries and wth income improving and a redvotion in costs. the Trustees have 8 r8asonable expectation that the charity has adequate funds and luture income to continue for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial st8t8menls. Principal Funding Main sources ol funding for thè charity are., Housing Benelil Oxfordshire County Council l Oxford City Council eommissioned incomo Oxford City Council, through the Prevenlion of Homelessness Grants General fundraising All money received by the charity from these income sources is spent on fulfilling the charitys objectives. The largest percentaoe of income is spent on support staff salaries, though a significant amount 15 also spent on the running ol properties from which il operates IO'Hanlon House and various cornmunity propertiesl, which are used to housÉ homeless people and thus lulfil the objectives ol the charity.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Fundraising Activities Fundraising remained Challenging in early 2023-24 with two interim part-time staff mernbers and new team members joining in the summer. A permanent Head of Fundraising and Comrnunicalions joined in October with a team of live in place by January. leading lo an increase in activity lor the last two quarters. Incorne (excluding legacies) finished at £351,934, with IndividLJal Giving continuing lo be the major income stream 1£173.0151. 2024-25 strategie fundraising aims include.. Increase gross income (excluding legaciesl lo over £440.000 in 2024-25 Ir8turning lo &year averagèl. Develop supporter journeys and a programrne ol stewardship to grow income acr055 all streams. Deliver proactive communications to donors and the public and dev8lop a social media 5tral8gy to engage more followers. Pul forward busilless cases for future Incorn8 streams lo be grownldev8loped after 2024125. Develop good latIOnShipS with other teams aeross the organisation. Horneless Oxfordshire is a member of the Fundraising Regulator, and we follow the slandards outlined In their fundraising code of practice. We have received no formal complaints. Investment Policy Surplus monies are inv8sled in line with the charity's investment policy. The objective is lo maximise retums whilst ollsuring that access to funds is simplified and as lar a5 possible funds a adequately safeguarded. Donations In Kind The charity acknowledge the coritribution ol donations and gifts in kind from local businesses, community groups. and members ol the public. Donations ol food and practical Items are passed on to service users in the project or lo those who have be&n r8c8ntly resellled and are b8ing supported in their own accommodation. Funds Held as Custodian Homeless Oxfordshire on occasion acts as custodian Iruslee, holding small amounts ol clients, monies for safekeeping, on request. Such money, totalling llo more than E500 at any one lime, is held in a safe and is subject lo rigorous recording processes. Structu, governance and managemènt Homeless Oxfordshire Lld I'lhe charily'l is a reg15tered charity Icharily numbèr 2978061 and a company limited by guaranlee (company number 021641501. The charity wa5 incorporated on 15th September 1987 as Oxford Night Shelter Limited. Oll the 4th Novernber 2009 the natn8 changed lo Oxford Hotneless Pathways Limited by special rgsolulion. On 22nd November a subsequent special resolution was passed to confirm the currenl operating name of Homeless Oxlordshire Ltd. The company has two wholly owned sub5idi8ries. Reconnect Oxford5hire Ltd 10788419 Incorporated on 25th May 2017 and Hox Shop Ltd 13559343 incorporated on 11th Augusl 2021. which are used for training and social enterpnse activities respectively. Th8 goveming documents are the Memorandum and Articles ofAssociation.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The TrLJSt8ès, who a also the directors for the purpose of wmpany law. and who served during th8 yaar and up lo the dat8 of signature of the financial statements Were". Anne Clarke Penny Budgen Ryan Cooke Kate Hood Frank Webster Anthony Aex3nder Robin Rogèrs Endah Paton David-Huw Owfrn David Cryer Anne Cooper Pamela Roberts Clare Perilon Carol Sweetenham (Resigned 5 July 20231 (Resigned 5 July 20231 (Rgsigned 29 December 20231 (Resigned 10 May 20231 (Resigned 17 July 20231 (Appointed 29 November 20231 (Appointed 13 March 20241 Method of Appointment or Ele¢tion of Trustees Inftsrmal skills audii processes govern the selection of Trustees and appointments are made in 3ccordance wth the Articles ol Asso¢ialion by receipl and approval ol an application for membership. Truslee5 are QuIred to sign documentation confiTmino their eligibilily to act in such 8 capacity. Trustee5 receive an induction from the CEO and Chair ol Homele55 Oxfordshire and rneet key personnel a5 part ol this illduetion. The Trustees meet as the Board of Trustees, which also comprises observers and advisors provided by Oxford City Council from time lo lime. Organisational Structure and Decision Making The overall responsibility for the charily rests with the Board ol Trustees. who 8re alsD appoint9d as directors of th8 charitable company. Authority from the Trusiees is delegated to the Chief Executive Offioer, and is responsib18 lor the day lo day running ol the charity.
HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Rlsk Managgment Risk Araas The charity is aware of non-financial risk5 presenied by events and their outcomes that tTTray h8ve a significant effect on.. Operational performance Achievement of aims and objectives Meeting expectations of stakeholders The organizalion has considered those major fisks to which it is exposed and sysl8ms have been design8d to miligale Ih05e risks. Regular reports are brought lo the 8oard of Trustees. Close review of the finance5 and reserves are undertaken. All operational and building ii5k ass8ssmenls are reviewed annually, with routine r8gul8r inspections at Ir8quent interwals. Speufic staff members have been idenlsfied as having health and safely and safeguarding re5ponsibililies. All tnofiitoring requirements are adhered lo, with quarterly reports submitled to funders as per specifi¢ individual arrang8menis. A Business Continuity Plan is in place. Our fixed assets relate lo owr)ership and lease affangements on accommodation lor clients and the provision of Luther stet Medical Cent. Our balance sh89t reflects the valu6 of these property asset5 but these funds are not available for general charitable expenditure. The Trustees also note that ils fixed assets generate ongoing m8inlenance and repairs cosl lor the charity. There 15 a notice period built into each funding agreement (usually minimum three months) which would allow time lo wind dowll services. This serves as prole¢lion against Homeless Oxlordshire becoming insolvent", In addition. insuranTr provides cover against inability lo provide services because ol damage lo buildings ete. Th8 risk lo service charge income Ifrom voids and b8d deblsl is covered by a cautious estitnale of occupancy levels and bad debls in each year's budoel.. in addition, these statistic5 are closely monitored on an ongoing basis. A cash now Iorecasl and budget variance moniloring procedure is also tM8int8ined. Related Party Relatlonshlps The Chanly has no rdaled party relationships lo disclose. Dlselosure of information to auditor Each of the persons who are Trustees at the time when this Trustee5' Repori is approved has confirmed that.. So far as that Trustees aro aware. there is no relevant audit information of which the charitls auditor is unaware, and Trustees have taken all the steps that ought lo have been taken as Tiuslees in order lo be aware ol any information needed by the oharity's auditor In connection with prepafing ils report and lo establish that the charity's auditor is aware of that information. The Trustees, report was approved by thè Board ol Trustees. Carol Sweelenham Date..
HOMELESS OXFORDSHIRE LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who ale also directors of Homeless Oxfordshire Limited for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Slandards Iunited Kingdorn Generally A¢pIed Accounting Prac11cel. Company law requires Ihe Trustees lo prepare financial sialernenls for each financial year. Under company law the Truslees rnu51 not approve the financial statements unless they are satisfied that they give a true nd lair view of the state ol affairs of the charitable Company and ol the incoming resour$ and application of resources. includirig the Income and expenditure, of the charitable company for thal period. In preparing these financial statements. the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP.. make judgments and accounting eslimale5 that are reasonable and prudent., stale whether applicable UK Accounting Standard5 have beeri followed. subjecl to any materia dep8rtures disclosed and explained in the financial slalemenls,. prepare Ihe financial slalements on the going concern b8sis unless it is inappropriate lo presume that the charitable company will con11nue in operation. Th8 Tru51ees a responsible ltsr keeping adequate accountin9 records that ar8 sufficient lo show and explain the charitable company's Ifansaction5 and disclose with reasonable accuracy at any lirne the financial position ol the charitable company and enable them lo ensure thal the financial slalemenls cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe chanlable company and hence for taking reasonable Steps lor the prevention and detgclion ol Iraud and other
HOMELESS OXFORDSHIRE LIMITED CRITCHLEYS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED Opinion We have audited the financial statements ol Homeless Oxfordshire Limited Ilhe 'Charity I for the year ended 31 March 2024 which compr15e the slalernent of financial activities. the balance sheet, the slalerrent ol cash flows and noies to the financial statemellls, including signifieant acoovnting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Firianrial Reporting Standard 102 The Financial Report9 StancIa applicèble in lh8 UK and Republic of Ir8land (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slalemenls-. give a true and fair view of the state ol the charitable Company's affairs 8s al 31 March 2024 and of it$ incoming sOurceS and application of restsurees, including its income and expenditure, lor the year then ended., have been properly prepared In awordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements ol the Companies Acl 2006. Basls for opinion W8 eA)nducled our audit in accordance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable 18w. Our responsibililies under those standards aro furth8r described in the Aiiditorts r8sponsibilities for thE audil of the financial statements Section of our report. We are independent ol the Charity in acoordance with th8 @lhical requir8menls Ihal are relevant to our audit ol 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 ev1dern we have obtained is suffiaent 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 ol the g0Sng concern basis of accounlsng in the preparation of the financial stalemenls is appropriate. Based on th& work we have performed. we have not identified any material uncertainties r8lating lo events or condits'ons that. individually or collectively, may cast significant doubt on the Charity's ability to continue as a going conrn lor a period of at least twelve months from when the financial stalements are authorised for issue. Our responsibilities and the responsibilits.es of the Trustees with respect lo going concern are described in the relevant section5 of Ihis report. Other irrformation The other inlorrnation comprises the information included in the annual report olh8r than the financial statements and our audito¢s report thereon. The Trustees are responsible for the other inforrnation contained within the annual report. Our opin on the financial slalements does not cover the other Information and, except lo th& extent otherwise explicitly s18ted in our report. we do not express any forTn ol assurance conclusion Ih8reon. Our responsibility is to r88d the other information and, In doing so. consider whether the other infom)atlOll 15 materially inconsistent with the financial statements or our know18dge obtained In the course of the aud1, or othe15& 8ppears lo be materially m155tat8d. If we identify such rnaterial in¢onsistencies or apparent material misstatements, we are required lo detertnine whether this gives rise to a rmaterial rrisstalement in the financial slalements Ihetnselves. 11. based on the work we have performed, we Conclude that the is a material missiatemenl ol this other information. we are qUired lo r8pori that fact. We have nothing lo report in this regard.
HOMELESS OXFORDSHIRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED Opin40ns on other mattèrs pr85cribgd by the Companies Act 2006 In our opinion. bas8d on the work undertak8n in the course of our aLJdit.. the information given in the Trustees, report for the financial year lor which ihe finanrial statements are prepared, which indudes the directors, report prepared for the purposes ol company law, 15 consistent with th8 financial stalemenls., 8nd the directors, report Included within the Trustees, report has b88n prepared in accordance with applicable legal requirements. Matters on which we ar8 required to report by 8xception In the light of the knovledge and understanding of the Charity and ils environrnent obtained in the course ol the audit, we hav8 not identified maierial misstatements in the directois, report included within the Trustees, repori. We have nothing to report in respecl of th8 following matter5 In relation lo which the Companies Act 2006 requires us lo report to you il, In our opinion.. adequate accounting records have not been kept. or returns adequate lor our audil have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and r8iurns', or certain disclosures of trustees, remuneration specified by law are nol tnade", or we have not received all the information and explanations we require for our audit,. or the Trust885 were not entitled to prepare the financial statements in accordan with the small companies regime and take advantage of the small cornpanies. eX8mplions in preparing the Trustees, report and from the requiremenl to ppare a slr8tegi¢ report. Responsibilitie5 of Trustees As explained more lully in the statement of Trustees, resrK)nsibilities. Ihe Trustees, who are 81so the directors of the Charity for the purpose of wmpany law, are responsible lor the preparation of the financial ststements and for being satisfied Ihal they give a true and fair wew, and for such internal control as the Trustees delerrnine is necessary to enable the preparation of financial statements that are free from materi81 misstatement, whether due lo fraud or error. In pieparing the fi'nanci31 staternenls, the Trkjstees are responsible lor assessing the Ch3rily's ability to continue as a going concern. disGlosin9, as applicab18. matters related to going concern and u51ng the going concern basis of accounting un185S the Trustees eith8r intelld to liquidate the charitable ¢ornpany or lo cease operabons, or have no realistic altemative but to do so. Audltor's responsibilities for the audit of the financial statements Our obj8ctives are to obtain reasonabSe assurance about whether the fin8nCi21 statements as a whole are free fro rnalerial m155tatement, whether due tts fraud or error, and to issue an auditor's port thal includes our opinion. Reasonable assurance is a high 18vel ol assuranc8 bul is not a guarantee that an audit Conducted In accordance with ISAS IUKI will always detect a material misstaternent when it exists. Misstatements Can arise from fraud or error and are considered rnaterial if, individually oir in the aggregate, they could reasonably be expected to influence the econotnic decisions ol users taken on the basis of these financial slalements. As part of an audit in accordance with ISAS IUKI, the auditor exercises profe5510nal judgment and maintains professional skeplici5m throughout the audit. Th6 extent to which our proc8dures are capable of detecting irregulanlie5, including fraud, is detailed below. 10
HOMELESS OXFORDSHIRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED the engagernent p8rlner en$Ud that the engagement team collecltvely had the appropriatB competence. capabilities and skills lo identify or r8cognise non-compliance with 8pplicable laws and regulations,. we identified the laws and regulations applicable to the company through discussions with diréctor5 and other manag8rnenl. and from our knoedge and experients", we focused on specifio laws and regulatsons which we considered may h8ve a direct material effect on the financial staternenls or the operations of the cornpany.. we assessed th8 extent of compliance with the laws and regulation5 Identified above thrtsugh making enouiries of m8nagernent and inspecling leg31 correspondence where applicable., and identified laws and regUla'On$ We cc>mmuni¢aled within the audit team regularly and the team r&rnained alert lo instanc85 of non-¢ornpliance throughout the audit. We assessed the susceptibility of the company's financial st8tements to material rnissialernenl. including obtaining an understanding ol how IiaLJd might occur, by.. making enquiries ol rnanagernent as lo where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., and considering the internal controls in place to miti'gate risks of fraud and ncin-complianc8 Wlth laws and règul8lion5. To address th9 risk of fraud through tllanagement bias and overrid& of controls, we.. perfoirn8d analylical procedures to id8nlify any unusual or unexpected relationships., lesled journal entries lo identify unusual Iransactions.. assessed whether judgements and assumptions made in delemining the 8ccounting estimates were indicative ol potential bias., and investigated the rationale behind significant or unusual Irans8clions. In response lo the risk ol irregularili8s and non-compliance with laws and regulations, we d8signed procedures which included, bul were not limited to.. agreeing financial statement disclosur8S to underlying supporting documentation.. reading the minutes of meetings of those charged with governance., enquiring ol manag8m8nt as to actual and potential litigation anij claims, reviewing levant correspondence. Th8f8 are inherent lirnitations in our audit proTrdure5 described above. The more rernoved that law5 and regulab'ons are from financial transactions, the less likely it is that we would become aware of non-compliante. Auditing slan(Jards also limit the audit proCedUS qUIred lo Identify non-complian with 18ws and regulations to 8nqLJiry of the directors and other Tnanagemenl and the inspection of regulatory and legal correspondence, il any. Material rnisslalemenls that arise due lo fraud can be harder lo detect than those that arise frotn error as they may Involve d81iberale concealment or collusion. A fLJrther description ol our responsibilities is available on the Financial Reporting Council's website at.. hltps'.11 www.frc.org.uklauditorsresponsibililies. This descriptic)n foms p8rt ol our audilorfs reptsrt. 11
HOMELESS OXFORDSHIRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED Use of our report This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 01 Part 16 of the Coimpanies Aet 2006. Our audit work has been underlak8ll so that we might slate to the charitable companrfs members thos8 rnatlers we are required to slate to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assum8 responsibility to anyone other than the charitable company and the eharitable company's rnembers as a body. for our audit work. for this report. or for the oplnions we have formed. /[/• Robert Kirtland Isenlor statutory Audltorl lor and on behalf of Critchleys Audit LLP 11812024 Chartered Accountants Statutory Auditor Beaver House 23-38 Hythe Bridg8 Street Oxford OX1 2EP 12
HOMELESS OXFORDSHIRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted fund funds 2024 2024 Total Unr•striet•d Re$tri¢¢ed funds funds 2023 2023 Total 2024 2023 Notès Income from: Donations and legacies Charitable activities Investments 506,635 3,156,716 20.809 506,635 1,391.482 4,548, 198 20,809 965,818 2.940,037 16,514 965.818 3,747.985 16,514 807,948 Total income 3,684,160 1,391,482 5.075,642 3,922,369 807,948 4,730,317 Expenditurè on.. Raising funds Charitable activities Other expenditure 166.961 3,606,018 31,716 166.961 1.408,444 5,014,462 31,716 119,364 3.590,303 3,270 119,364 814,504 4,404.807 3,270 Total expenditure 3,804,695 1,408,444 5,213,139 3,712,937 614,504 4,527.441 Nel gainslllossesl on investments 12 36.306 36.306 132,2001 132.21X)I Net ineomellexpenditurel 184,2291 116,9621 1101.19tI 177.232 16,5561 170.676 Other rgcognisod gains and losses.. Actuarial gains on defined benefit pension schemes 427.000 427,000 Net movemont funds 184,2291 116,9621 1101,1911 604.232 16,5561 597.676 R•conciliation of funds.. Fund balances at 1 April 2023 2.315,328 173,658 2.488,986 1,711,096 180,214 1,891,310 Fund balanc•s #t 31 March 2024 2,231,099 156.696 2.387,795 2,315.328 173,658 2,488.986 The slalernenl of Ilnancial a¢tivities includes all gains and1055es recognised in the year. All income and expenditur8 derive from continuing activities. 13
HOMELESS OXFORDSHIRE LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Note$ Fixed assets Tangible as58t5 Inv8stmenls 1,743,179 571.902 1,820,511 533,796 14 2,315.081 2,354,307 Current assets Debtor5 Cash at bank and in hand 15 615,444 808,510 890,794 381,430 1,423.954 1,272,224 Credltors.. amount5 falling due within one year 16 1451,2401 1198.9351 Net current assets 972,714 1,073.289 Total assets less current liabillties 3,287.795 3,427,596 Cr¢ditors= amounts falling dug aftor more than on& year 17 1900.0001 Igoo,0001 Provisions for Ilabllities 18 138,6101 Net assets ex¢ludlng penslon liability 2.387,795 2.488,986 Defined benefit pension liability 19 Nat assets 2.387.795 2,488,986 The funds of the Charity Restricted Income funds Unrestricted funds 156,696 2,231.099 173,658 2,315,328 21 2.387,795 2,488.986 The financial slalements were appmed by the Trustees on . Caro weetenham Company registration number 02164150 (England and Wales) 14
HOMELESS OXFORDSHIRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Not05 Cash flow$ from operating activities Cash gen8rated Iromllabsorbed byl operations 26 419.319 1208,8431 Investing activities Purchase of tangible fixed assels Purchase of investtn8nts Proc8ed5 frorn disposal of investments Investment Incorne received 111,2481 138,4761 36.676 20.809 1890,6281 1175,2001 164,753 16,514 Net eash yen¢ra¢ed fromllusad inl Invostlng activities 7,761 1884,5611 Flnancing actlvlties Receipt ol loans 900,000 Net cash (used inllgenerated from Ilnanclng activitios 900,000 Net Iner$asglldecreasel In cash and cash equivalents 421,080 1193,4041 Cash and tash equivalents at beginning of year 381,430 574,834 Cash and cash equivalents at end of year 808,510 381.430 15-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AeeountSng polbcies Charlly Infomiation Homeles5 Oxfordshire Limited is 8 private company limited by guaran18e Incorporated in England and Wales. The registe18d office is O'Hanlon House, Luther Slreel, Oxford, OX1 IUL. 1.1 Accountin9 conventlon The financial statements have been prepared in accordance with the Charity's governing document. which Is the Memorandtsm and Artide5 of Associ8tion, the Companies Act 2006, FRS 102 "The Financial R8porting Standard applicable in the UK and Republio of Ireland. l FRS 102,1 and the Charities SORP 'Accounting and R8POrting by Charities. Staletnent ol Recommended Practi applicable to charities preparing their accounts ill accoidance with the Financia1 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. The Charily is a Public Benefit Entity as defined by FRS 102. The financial slalemenls a prepared in slerflng, which is the functional currency of the Charity. Monetary arnounls in these financial statements are rounded to the nearest £. Th¢ financial slalements have been prepared under the historical cost convention, rnodilied lo indudo the revaluation ol freehold properties and lo include Investment properties and certain rn9ClaI instruments at lair value. The principal accounting polioes adopted are sel out below. The Charity is a company limited by guarantee. The members of the company ar8 th8 Trustees named o page 1. In the event ol the Charity being wound up, the liability in r8spect ol the guor8nlee Is limited to £1 per member ol the Charity. 1.2 Going concern At Ihe time of approving the financial statements, the Trustees hÈve a reasonable expectation that the Charity has adequate resources lo continue in operational existellc& for Ihe foreseeable futu. Thus the Trustees continue to adopt the going ctsncern basis ol accounting in preparing the financial statements. 1.3 Charitable fund5 Unrestricted funds are available for use at th8 discretion ol the Trustees in furtherance ol their charitable obj8CtiV8S. Designated funds cornprise unstrICted funds thal have been set aside by the Trustees for particular purposes. The aim and us8 of each designated fund is set out in the notes lo the fin8nei31 slalements. Reslricled funds are subject lo speoific conditions by dollors or grantors as to how they may be used. The purposes and uses ol lh8 restricted funds are sel out in the note5 to the financial statements. 1.4 Income All income is recognised once the Charity has entitlement lo the income, it is probable that the income will be receiv8d and the amount of income re1vable be measured reliably. The recognition of income from legacies is dependent on establishing entillemenl, the probability of receipt and the abilily lo estimate with sufficient accuracy the amount receivable. Evidence of enlillemenl lo a legacy ex15t5 when the Charity has sufficient evidence that a gift has been lell to them (through knowledge ol the existance of a valid will and the dealh of the benelactorl and the executor is satisfied that the properly in qLJeslion will not be required to satisfy clairns in the estate. Receipt ol a legacy must be recognised whell it is probab that it will be received and the fair value ol the amount 1vable. which wll generally be the eXP8dad cash amount to be distributed lo the Charrty, can be reliably measured. 16
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnuedl Grants are included in the Statement of financial activitiès on receivable basis. Tho balance of income ceived for Specific purposes but not expended during the period is shown in the re18vanl funds on the Balance 5h88t. Where income is rec8iv8d in advance Of entit18tnenl ol reipl, its recognition is deferred and included In creditors as deferred Income. Where enlitlemenl occurs befo income Is received. Ihe income 9 accrued. Donated service5 or facilities are recognised when the Charity has control over the Ilern, any condilions associated with the donated item have been rnet. the receipt ol economic benelil Irotn the use of the Charity of Ihe item is probable and that econotllic b8nefil can tie measured reliably. On receipt, donate(I professional services and faeilities a recognised on the basis ol the value of the gift lo the Charity which Is amount il would have be8n willin9 to pay to obtain services or facilities of 8quivalent 8conomic benefit on lh8 opell market," a corresponding amount is then recognised in expenditure in the period of receipt. Income lax recoverable in relation to Investment income is recognised at the lime the Investment income Is receivable. Other income is reco9nised in the period In which it is receivat>le and to the extent the goods have been provided or on completion of the service. Rental income, including Housing and other benefits, is accounted for on a receivable b8sis in line with night5. accommodation provided. 1.5 Expenditure Expenditure is recognised onc8 there is a legal or Constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement, and the aTnOLJnl or the obligation can be meastjred reliably. Expenditure is classified by activity. The costs ol each activity are made up ol the lolal of direct costs and shared costs. including suppori costs involved in undeilaking each activity. Direct costs atlribulable to a sin9le activity are allocated d1ctlY to that activity. Shared c051s which conlribule to trore than one activity and support costs which a not attributable to a single activity 8ro apportioned between those activities on a basis consistent with the use ol resources. Central staff costs are allocated on the basis ol time spent, and epreciation charges are allocated on the portion ol the asset's use. 1.6 Tangible flxtd assets Tangible fixed assets ar8 initially measured at cost and subseouently mèasured al cosl or valuation. net of d8preciation and any imp8irrnent losses. Depreci8tlOll 15 recognise¢J so a5 to write off the cost or valualioll of assets less their residual values over their useful Iiv8S On the following bas8S'. Land and buildings Leasehold improvements Fixtures and Iitbngs Computers Motor vehicl8s 2¥¢ slraighl line 10 /ts Straight line 33Q/D Straight lin8 33¢/o straight line 33.fi straight line The gain or loss arising on the disposal of an a55et is determined as the difference between the sale proceeds and the carrying value of th8 asset, and is CogniSed in the statement of financial activities. 17.
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcl•s (Continued) Certain fr8ehold land and buildings are not depCiated 85, In the option of the Tfuslees, the property 15 Worth more than its nel book value. and as such, any depreciation charge would be Immaterial. AlthoLJgh this treatment 15 contrary to the Companie5 Act 2006 which slates that fixed asset5 should be depfecialed this is. in the opiriion ol the Trustees. nece55Ary In order to give a true and fair view ol the asset's true value. 1.7 Fix8d asset investrnents Fixed asset Investments are initially rneasured al trans8Ction priTr excluding transaction costs, and are subsequently measured al lair value 81 each reporting dat¢. Changes in fair value are recogni5ed in nel incomellexp8nditurel lor the year. Trallsaction costs are exp8nsed as incurred. Investments in subsidiaries are valued at cost less provision lor impairment. The investments in the subsidiaries R8eonnecl Oxlordshire Limited and Hox Shcip Ltd are not rnaterial to these financial stalernents and as such are not recognised on the Balance Sheet. Th8 results il the subsidiaries are not material to the Charity and the Charity has Iherefore not prepared Consolidated financial stalernents. Reconnecl Oxfordshire Limiled has the company registered number 10788419 and Homeless Oxford5hire Limited holds 100Q/ts of the issued share capital ol Reconnect oxfordshi Limited Hox Shop Ltd has the company registered nLJmber 13559343 and Homeless Oxfordshire Litnited holds 100% of the issued share capital of Hox Shop Ltd. 1.8 Impalrmont of flxed assets At each reporling end date. the Charity reviews the carrying amounls of its tangible assets to determine whether there is any indication that those assets have suftered an Impairment Ios5. 11 any such indication exists, the re¢overhble arnounl ol the a8set Is ests'mated in order to ¢Jetermine thg exlenl ol the impairTnenl loss lif anyl. 1.9 Cash and cèsh equlvalents Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-term liquid inveslrnents with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Flnanclal Instruments The Charity has 81ecled tr) apply the provisions ol Section 11 '8asic Financial Inslrurnents, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Charitys balance sheet when the Charity b8eomes party to the contractual provisions of the instrument. Financial assets and 118bilities are offset. with the net amounts presented in the financial 51alements, when there Is a legally enforceable right to sel oft Ihe r8cognised amounts and there is an intention to settle on a net basis or to reallse the ass8t and settle the liability simultaneously. 8asiG financial assets Basic financial assets. which include debtors and cash and bank balances. are initially measured al transacts.on pri including transaction cosls and are subsequently Carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iran5aclion. where the Iransaclion is measured at the presenl valu9 01 the futu receipts discounted at a market r8le of interesl. Financial assets cla55ified as receivable within one year are not amortised. 18-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcie (Continuedl 8asi¢ Ainanclal Ilabllities Basic financial liabilities. including creditors and bank loans are initially recognised al transaction price unless the arr8ngemenl constilules a financing transaction. wh8r8 the debl instrument Is me8sured at the present value of the future payments discounled at a market rale of interest. Financial liabili118s classified as payable withiTI one year are not amorlised. D8bl instruments are subsequently carried at amortised ¢ost, using the effective interest rale method. Trade creditors are obligations lo pay lor goods or Services that have been acquir&d in the ordinary cours8 of operations from suppliers. Arnounls payable are classified as current liabilitie5 if payment is due within one year or less. 11 not. they are presented as non-current liabilities. Trade creditors are recognised initially al Iransaotion price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of linan¢tial liabilitles Financial liabilities are derecognised when the Charity'5 Contractual obligations expire or are dischargèd or canc8lled. 1.11 Pfovisions Provisions are recognised whell the Charity has a legal or constructive present obligation as a result of a past event, Il Is probable that the Charity will be required to settle that obligation an(J a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is th8 best estimate ol the consideration requi tts S8tlle the psent obligation al the reporting end dale, taking into account the risk5 and uncertainties surrounding th8 obligation. Where the effect of the lime value ol mon8y is material. the amount expected to be qUired to settle the obligation Is recognised at present value. When a provision is measured al present value, the unwinding of the discount is iecognised as a finance cost in net in¢omellexpenditurel in ihe period in which Il arises. 1.12 Employ8e bgnefits The cost of any unused holiday enlillement is reco9nised in the period ill which the employee's sèrvices are received. Termirialion benefits are recognised immediately as an expense when the Charity is demonstrably comrnitted to lerminale the employment of an employee or lo provide termination benellls. 1.13 Retirement benefits Payrnents to defined contribution retirement benefit schemes ar¢ charged as an expense as they fall due. 19-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accountlng estirnat05 and judgements In the applscation ol the Ch8rity's accounting policiès, the Trustees ar8 required lo make judgements. slima1&5 and assumptions about the carrying amoLJnt ol assets and liabilities that are not readily apparenl from other Sour$. The eslirnates And associated 8ssump110ns are bas8d on historical experience and other f8clois that are considered lo bè relevanl. Actual results may differ from these estimates. The eslimales and underlying assumptions ar& reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whi¢h the estimate is revised Whe the revision affects only that period. or in the period of the revision and future periods where the r8vi510n affects both current and future periods. Criti¢al judgements D8preciation Fixed ass8ts are deprecialed over their useful economic lives. Depreciation during the year ended 31 March 2024 was £86,42912023.' £90,319). Defined benetit pènsion The value ol the defined benefit plan is estimated based upon the report Issued by an actuary. After the application of an assel ceiling, thè value at 31 March 2024 was eslimat8d to be £Nil12023.. liability of £NIll. Dilapidations provision Management has estimated the dilapidations costs expected. The dilapidations provision included at 31 March 2024 lolalled £Nil12023-. £38,610). -20-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestri¢led Unrestrlcted funds funds 2024 2023 Donations and legacies Grants 461,643 44.992 950,814 15,004 506,635 965.818 Income from Charitabl8 activities 2024 2023 Rent and housing benBfits Public authofily funding Rental income 2,616.598 2,521,926 1,885,400 1,179.859 46.200 46,200 4,548.198 3,747,985 Analy515 by fund Un$triC1ed funds Restric18d fund$ 3, 156.716 2,940,037 1,391.482 807.948 4,548,198 3,747,985 Income from investmÈnts Unrestricted Unrestrl¢ted funds funds 2024 2023 Inveslmenl incorTre Interest receivable 11.345 9,464 12,863 3.651 20,809 16,514 21
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on Raising Funds Unrestrlcted Unr•strlcted fund5 funds 2024 2023 staff costs Other fundraising costs 103.624 63.337 68.093 51,271 166,961 119,364 Expenditure on Charitable Activlties 2024 2023 Staff costs Pension fIrnan costs Food and household Laundry and cleaning Heal and light W8lfare activities Agency cosls Donations in kind Legal and professional 1,803,526 1,613,774 11.000 169,792 139,728 125,274 23.306 217.209 26,971 108,450 187,559 146.878 208,322 32,514 394,962 5,200 168.204 2,947,165 2,435,504 Share ol support costs (see noie 81 Share of govemance costs Ise8 note 81 2,043.255 1,958,503 24,042 10.800 5,014,462 4,404,807 Analysis by fund Uniestricted lunds Restricted funds 3.606,018 1.408,444 3,590.303 814.504 5.014.462 4,404,807 22-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Support and governance costs Support Govornance costs COSt$ Total 2024 Total 2023 Support Governance costs costs Depr¢cialion Prtsperty rnanagement costs Staff training Travelling Rent and rale5 Repairs and rnaintenance Insurance Telephone Sundry and adminislralion charges Legal alld professional Recruitment Bank arid investrnent charg8 Printing and stationery Cotnpuler consumables Oxford Homele55 Medical Fund Loss on disposal ol tarigible fixed assets 86.428 86.428 90,319 90,319 510,782 21,408 32.418 645,202 510,782 21,408 32.418 645,202 343,005 29,512 26,606 641,398 343,005 29,512 26,606 641.398 302,674 63,905 51,009 302,874 63.905 51,009 337.195 40,727 28.548 337. 195 40,727 28.548 4,444 125,816 86,079 4.444 125.816 86.079 32,612 222,452 78,530 32,612 222,452 78,530 5,947 70,831 28,339 5.947 70,831 28,339 5,848 51.131 3(1.620 5,848 51.131 30,620 5,621 5,621 2.152 2,152 Audit fees 24,042 24.042 10.800 10.800 2.043.255 24,042 2.067,297 1,958.503 10,800 1.969.303 Analysed between haritable activities 2,043.255 24,042 2.067.297 1,958,503 10,800 1,969.303 Net rnovement in funds 2024 2023 The nel movement in funds is stated after chargingllcrfjdilingl.. DepciatIOn of owned tangible fixed assets 86,428 90.319 10 Trustees None of the Trustees lor any persons connected wlh them) received any remuneration or benefits frorn the Charily during the year. -23-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees The average monthly number ol ernployees during the year was.. 2024 Number 2023 Numbar 65 58 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 1,699.055 162,597 45.498 1,500,208 144,517 37,142 1.907,150 1,681.867 The number of employees whos¢ annual femuneration wag more than £60.000 is as follows.. 2024 Number 2023 Number £60,000 lo £70,000 £80,001 10 £90,000 The kéy managemenl p8r50nnel ol the Charity comprise of Ihe Trustees, the Chief Executive Officer, the Head ol Finance, the Head of Housing and Support Services. the Head ol Fundraisin9 and Communications. the Head of Property and Development, and the HR Manager. The total employee benefits ol the key management personnel of the Charity were £353,298 12023.. £322,263). The 2023 figures lor key management personnel employee benefits have been restated lo indude all of their wage5. employers Nl conlributions, and employers pensitsn coniribvlions. The effecl on the profit and loss is £Nil. 12 Net Ilos58sllgalns on invgstmants Unrestricted Unrestricted fun(Is funds 2024 2023 Revaluation of investments 36,306 132,2001 -24-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Land and Flxtur88 and bulldlngs Ccmput•r$ Motor h1¢10S Total Cost At 1 April 2023 Addition5 Disposals 3,095,053 834,673 195,868 11,248 1699,2951 1137.5551 5,500 4,131,094 11,248 1836,8501 At 31 Mah 2024 3.095,053 135.378 69,561 5.500 3,305,492 Dtrpreciation and impairm•nt At 1 April 2023 Depreciation charged in the year Eliminated in respect of dispos81s 1,334,413 49.483 804,522 166.148 18,145 18,800 1697,3571 1137,3411 5.500 2,310,583 86,428 1834,6981 At 31 March 2024 1,383.896 125,310 47,607 5,500 1,562.313 Carrying amount Al 31 March 2024 1,711,157 10,068 21,954 1,743,179 Al 31 March 2023 1,760,640 30,151 29.720 1,820,511 The carrying value ol land and buildings comprises.. Restated 2023 2024 Freehold propety Long leasehold 1,284,140 427,017 1.304.952 455.688 1,711,157 1.760.640 The 2023 figures have bo8n reslaled lo correctly recognise the split between freehold and lea5ehoSd properties. The effect on th8 b818nce sheet is £Nil. -25-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 Fixèd as8e¢ investrnents Llsted Inv•stment$ Cost or valuatlon At 1 April 2023 Additions Valuatitsn changes Disposals 533.796 38,476 36.306 136,6761 At 31 March 2024 571,902 -26-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Debtors 2024 2023 Amounts falling due within one year.. Trade debtors Other debtors Prepaymenis and acetued income 361,629 34,799 219,016 89,111 54.570 747,113 615,444 890.794 16 CredStors.' amounis falling due within on8 y8ar 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and def8rr8d income 37,443 169,751 14,734 229,312 36.534 105.975 14,718 41.708 451,240 198.935 17 Creditors.. amount5 falling due after mor& than one year 2024 2023 Bank loans 900,000 900.000 18 Provisions for liabilities 2024 2023 Dilapidation provisions 38,610 19 Retlrement benefit schemes 2024 2023 Dèfined contribution schemes Charge to profit or loss in respect of defined contribution schemes 45.498 37,142 27-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEO) FOR THE YEAR ENDED 31 MARCH 2024 19 Retirement benefit schemej Icontinuedl Defined ben•flt schemes The Charity operatgs a defined benefit pansion scheme and the pension charge is based on an actuarial valuation dated 17 May 2024. The Local Goverllrnent Pension Scheme Oxlordshire County Council Pension Fund" is a funded scheme and the assels are held separately from those of the Charity in separate trkjstee administer8d furids. Pension scheme assets are measured al fair value and liabilities are measured oll an actuarial basis using the projected unit credit method and discoLJriled al a rate equivalent lo the current rate of return on a high quality corporate bond of equivalent lerffl and ¢Ulfency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date. The amounts charged to operating svrplus are the cUrn1 service c05t5 and the costs of the scheme introductions, benefit changes. settlements and eurtailmenls. Thoy are Includecl as parl ol staff costs as Incurred. Nel interest on the net defined benefil liabilitylassel is also recognised in the Statement of Financial Activiti&s (incorporating all Income and Expenditure Account). and comprises the interest cost on the defined benefit obligation and the Interest Income on the scheme assets calcul8ted by multiplying the lair value of the scheme assets at the beginning of the period by the rale used lo discount the benefit obligations. The difference between the interest Income on the scheme assets and the actual return on the scherne assets is recognised as a gain tsr loss in the statement of financial activities. Key assumplions 2024 2023 Discount rate Expected raie of increase ol pensions in payment Expected rale ol salary increases 4.85 2.75 2.75 4.75 2.95 2.95 Mortality assumptions The assumed lif& expectats.tsns on relirgmenl at age 65 are.. 2024 Years 2023 Y•ars Retiring today Males Females 21.1 24.8 21.2 24.9 Retiring in 20 years Males Females 23.1 25.6 23.3 25,8 Amounts reGognised in the profil and loss account Coslsl(Income)." 2024 2023 Nel interest ori defined benefit liabilityllassetl 14,0001 11,000 -28-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 19 Retirement b•nefit s¢h8mes Icontinuedl Amounls ¢015&d in other compffthen51V8 inGome cost{1¢0Mej.' 2024 2023 Actual return on schème assets Less." calculated inieresl element 1206,0001 86.000 86,000 53,000 Return on scheme assets excluding interest incom& Actuarial changes relaled to obligations Exchange differences 1120,0001 125.0001 149,000 139,000 1657,0001 91,000 Total c051sllincom81 4,000 1427,0001 The amounts includ8d in the balance sheet arisino from the Charity's obligations in respect of defined benefit plan5 are as follows.. 2024 2023 Liabilitiesllasselsl.. Present value of defined benefit obligations Fair value of plan assets 1,753,000 1,738,000 11,753,000) 11.738.000> Defi'cit in scheme 2024 Movements Ihe psent value of rjefined benefit obligations Liabilities al 1 April 2023 Beneflls paid Actuarial gains and 1055es Interest COSt 1,738.000 142.0001 125.0001 82.000 At 31 March 2024 1,753.000 The defined benefit obligations arise from plans which are wholly or partly fLJnded. 2024 Movements in the fair value of plan ass81s Fair value of assets at 1 April 2023 Interest income Return on plan assets (excluding amounts included in nel inte$t) Benefits paid A5sel ceiling applied 1.738.000 86,000 120,000 142,0001 1149,0001 At 31 March 2024 1,753,000 The actual return on plan assets was £206,00012023 - £86,000). -29-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retiretn8nt b•neflt $¢hemes IContinu8dl 2024 2023 Fair value of plan assets EqLJity instruments Debt instruments Prop8rty Bonds Cash Asset Ceiling applied 1.335.000 1,335,000 165.000 179,000 439.000 40.000 1240.0001 293,000 36.000 191,0001 1,753.000 1,738,000 -30-
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HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 unstrICted funds The unrestricted funds of the charity comprise the unexpended balancès ol donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designaled funds which have been set aside out of unrestricted funds by the Iruslees lor specifie purposes. At 1 April 2023 Incoming sources Resources èxpendèd Gains and At 31 March losse5 2024 Fixed ass8t fund Luther Slreel Medical Fund General funds 757,902 46,300 1.511.126 11.248 1,200 3,671.712 {82.6681 18.0611 13,713,966) 686,482 39.439 1,505,178 36.306 2.315.328 3,684,160 13,804,695) 36.306 2,231,099 Pension fund 2,315.328 3.684.160 13,804.6951 36,306 2,231.099 Previou5 year.. At 1 Aprll 2022 In¢oming resourc85 Resource5 expended Galns and At 31 March losses 2023 Fixed asset fund Luther Street Medical Fund General funds 851,682 46,300 1,229,114 890,628 1984,4081 757.902 46,300 1.511,126 3,031.741 12,717,529) 132,2001 2,127,096 1416,0001 3,922,369 13,701,937) 111,0001 132.2001 427,000 2,315,328 Pension fund 1.711,096 3,922,369 13.712,9371 394,800 2,315.328 -34-
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HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Operating lease commitm8nt5 Lossee Al the reportillg end dale the Charity had outstandino cornmitments lor future minimLJm lease payments under non-canc811abl8 operating leases. which fall due as follows.. Restated 2023 2024 Within on8 year Between two and live years In over fi've year5 679,770 1,109,150 20,923 524,723 624,733 54,401 1,809,843 1.203.857 The 2023 figure has been restated to include leases signed before 31 March 2023 which were not induded In the previous year. 24 Relatèd party transaction5 Ouring the year no tru5tges made donations,12023- four trustees - £2251. 25 Controlling party Thg Charity is under the joint control ol the Trustees who oversee all administratson and operab'ons that the Charity undertakes. 26 Cash generated from operallons 2024 2023 (Deficitllsurplus lor the year 1101,1911 170,676 Adjustments for.. Investment income recognised in statement of fin8Ticial activities Loss on disposal of tangible fixed assets Fair valu8 gains and losses on inveslmernts D8precialion and impairment of tangible fixed assets Difference betW88ll P8nsion charge and cash contributions 120.8091 2.152 136,3061 86.428 116,5141 32,200 90,319 11.000 Mtsvemenls in working capital.. Decreasellincreasel in deblors Increase In creditors Increa5elldecreasel in provisions 275,350 252,305 138,6101 1528,2661 26.692 5.050 Cash 9&neratod fromllabsorbed by) optrrations 419,319 1208,8431 -36-
HOMELESS OXFORDSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Analysis of chan9e5 in net Idebtllfunds At l April 2023 Cash flowsAt 31 March 2024 Cash al bank and in hand 381,430 427,080 808,510 Loans falling due after more than one year 1900.0001 1900,0001 Net debt 1518.5101 427.080 191,4901 -37-