**REGISTERED COMPANY NUMBER: 01041946 (England and Wales) REGISTERED CHARITY NUMBER: 501556 REGULATOR OF SOCIAL HOUSING REGISTERED NUMBER: 5087**
**Report of the Trustees and Audited Financial Statements**
**for the Year Ended 31 March 2021**
**for**
**DURHAM ACTION ON SINGLE HOUSING LIMITED**
**DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Contents of the Financial Statements for the Year Ended 31 March 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Report of the Independent Auditors**|9 to 12|
|**Statement of Financial Activities**|13|
|**Balance Sheet**|14|
|**Cash Flow Statement**|15|
|**Notes to the Cash Flow Statement**|16|
|**Notes to the Financial Statements**|17 to 26|
|**Detailed Statement of Financial Activities**|27|
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
We are a charity that provides accommodation, with support, to people who are either homeless, or are about to become homeless. We also provide some shared housing, without support, as part of the Empty Homes Community Grants Program.
We currently accommodate up to 50 people in a variety of properties on a short, medium or longer term basis, and our aim is to provide a supportive and stable environment in order to give people the best chance of addressing the problems that caused their homelessness, and an opportunity to move forward into independence.
Our charitable objectives are:
1) The relief of poverty, in particular by the provision of charitable social housing to people in necessitous circumstances.
2) To promote the care, education and training of people with a mental or physical disability.
We achieve this through the following activities:
-The provision of supported housing
-A project specifically for vulnerable women facing multiple complex needs
-Enhanced housing management services
-The provision of affordable shared housing for homeless people and people in housing need.
Our mission:
Everyone, regardless of circumstances, should have a fundamental right to a place of shelter, and help to rebuild their life.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **Covid-19**
At the start of the financial year, the country was held in 'lockdown' due to Covid-19. The Trustees are proud that the staff team came together, revised risk assessments, initiated action plans for those able to work from home, and were able to provide a calm, informative service to our residents keeping them updated with changes and what it meant to them. Changes were made to normal ways of working to enable staff to continue with the provision of support services and maintain 24 hour staff cover at the Vulnerable Women's Project throughout in the safest, socially distanced manner possible.
New ways of communicating, such as via Zoom, meant team meetings could be held to review and revise ways of working as restrictions eased or tightened again. Additional Board meetings were held via Zoom, to support the staff team through the additional challenges posed by Covid, and to ensure that operations were able to continue as much as possible.
With the ongoing effects of Covid-19 having a significant impact on the lives of our residents and the working practices of staff, we will continue to track the impact this has to homelessness and the economy in County Durham in future years.
## **Performance**
During the 2020/21 financial year DASH received and accepted a total of 710 referrals. 600 coming from local authorities and support agencies etc. The balance of 110 referrals were self-referrals. 16 of the referrals made were uncontactable. Possible reasons being that the contact number was missing, incorrect or the applicant no longer owned the phone.
Due to Covid restrictions, our support staff carried out telephone interviews with potential residents. Of those interviewed DASH was able to offer accommodation to 57 people during the year and housed 107 people in total. 31 women with complex needs moved into the Vulnerable Women's Project. 16 others were accommodated in the Private Landlord Partnership properties, leaving 7 who resided in Harry Mears House and 3 in unsupported properties.
The disparity between those seeking accommodation and those whom we can make an offer to is a key driver towards our expansion of DASH accommodation.
61 residents moved on from DASH accommodation. 13 of those moved into properties owned by private landlords, housing associations or local authority. 12 women were moved internally either because of risk assessment or to be more independent. 3 residents moved back into the family home, while 4 moved in with friends and 3 moved in with a family member. 18 abandoned their property without leaving a forwarding address. The remaining residents went on to other supported accommodation, hospital or prison.
From our affordable shared housing, two properties with 3 bed spaces were sold during the year, and a further property with 3 bed spaces will be sold in the next year. This is part of our business development plan, with an aim to replace shared properties, which have low demand, and expand into provision of self-contained flats and houses which are in much greater demand. These new properties will also be let at affordable rents.
## **Development projects**
Hudson House was developed to provide 4 one bed flats which will be let at affordable rents. The overall scheme costs were £321,168. Funding was secured from Homes England - £119,000 (Shared Ownership and Affordable Housing Programme) and Durham County Council, Commuted Sums - £176,000.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
## **ACHIEVEMENT AND PERFORMANCE**
## **Fundraising activities**
## **The volunteering programme**
The volunteering programme has continued to operate this year with student volunteers and others helping out in various ways including contributions to the website, marketing & communications and fundraising. All of this activity has been carried out remotely and the use of Zoom and WhatsApp has enabled communications between DASH and our volunteers to continue. We have been able to maintain a core group of proactive and enthusiastic volunteers. Unfortunately, corporate and group volunteering has discontinued through the pandemic.
The volunteer programme was reassessed against the County Durham Volunteering Kitemark and our status was renewed with some very positive comments about the way we recruit and manage volunteers. An e-newsletter was circulated in June dedicated to volunteers to coincide with national Volunteers Week.
## **Fundraising & Donations**
In total we received £35,389 in donations compared with £22,503 during the previous year. We have continued to receive online donations and we have introduced JustGiving and Text to Donate as options for donating and an account with Amazon Smile has also generated donations from sales on Amazon.
Donations were received from Durham University colleges and groups, individuals, churches, businesses, Durham and Chester-le-Street Rotary Clubs, Durham City Freemen and various other groups and organisations.
## **Marketing & Communications**
Website usage has increased and online donations are increasing, and the number of repeat donations is also on the increase. A new website was introduced in the Autumn which is much cheaper to manage and gives us improved functionality. Social media use has increased and the circulation for the DASHtalk e-newsletter has increased to about 900 people. New branding was developed for both DASH and Kepier Homes; it was important to develop logo's which could be used together.
## **Funding**
Funding was secured from Homes England and Durham County Council for the conversion and extension of Hudson House to provide four 1 bed flats at affordable rent.
Funding was secured from the Newcastle Building Society Community Fund via County Durham Community Foundation to continue our Residents Health & Wellbeing Programme.
## **Governance**
We have registered with the Housing Ombudsman Service and in order to do this we updated our Complaints Policy and Procedure and developed a Compensation Policy.
A number of governance activities and reviews were conducted during the year including the review of the 3-year rolling Business Development Plan, a review of the Risk Register and Business Continuity Plan and other governance reviews necessary to comply with the Homes England Standards for Registered Providers of Social Housing.
## **Quality Management**
Regular Management Reviews and Internal Audits of the ISO 9001 Quality Management System were carried out and an external assessment was carried out on 23rd September. We passed the assessment without any non-conformances. There were a number of recommendations for improvement that we will implement in due course.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **FINANCIAL REVIEW Principal funding sources**
The charity has two primary sources of revenue income.
Firstly, the rents and service charges which we charge to the residents of both our supported accommodation, and our unsupported accommodation. Due to the circumstances of most of our residents, the majority of our rental income is paid via Housing Benefit.
Secondly, we receive funding from Durham County Council, via their ongoing Supporting People programme, which helps us to provide tailored support to our vulnerable residents.
We also receive a modest amount of funding through donations.
## **Financial Risk**
Our two primary sources of funding as detailed above, are not guaranteed long term and both face some financial risks.
Our Durham County Council Supporting People funding is contracted until 31 March 2022. Beyond this it is not yet known what contracts may be on offer, which potentially has a significant impact on the level of support that we would be able to provide.
There has been some uncertainty over the last few years with the introduction of Universal Credit. This impacts residents in our unsupported properties who need to apply for the housing element. As we move towards expanding our unsupported accommodation this will need to be carefully managed.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The Charity retains its surplus funds on deposit with a number of banks and organisations. The aim is to spread funds across institutions to minimise the risks from any individual organisation.
Although some money is held within fixed term investments, we ensure that enough reserves are available at relatively short notice so that the charity can take advantage of any suitable opportunities should they arise, including the purchase of further rental accommodation to expand our existing portfolio.
## **Reserves policy**
The management committee has examined the charity's funding requirements for working capital and in the event that it could not continue its activities, it considers that unrestricted free reserves, relating to six months running costs, of £300,000 need be set aside to cover existing obligations on a forced closure basis, with £74,200 held as a redundancy provision. A further £200,000 is being designated for future developments.
Although the reserves currently stand at £1,711,978, a large proportion of this balance relates to freehold property. The net book value of freehold property as at 31 March 2021 is £813,975 which would not be easily convertible into cash to pay the operating costs for the charity in the short term.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **Value for Money**
We recognise that if we want to deliver our strategic aims we need to create a balance of cost, quality and benefit to our residents and business across all our services. By ensuring that everything we do is as effective and efficient as possible, any capacity within our resources can be reinvested into services to further our charitable objectives helping additional people in need.
Benchmarking is important to any business. It provides key comparisons with similar organisations, enabling understanding of strengths and weaknesses and underpinning an evidence based approach to resource allocation, cost reduction and target setting. The organisation's operating costs and key financial indicators will be benchmarked annually using a variety of sources, including data from the Regulator for Social Housing (RSH) Global Accounts. We have also carried out a review of the Housing Sector Scorecard and where we stand in relation to the results for 2020/21. This scorecard is split up into five themes:
-Business Health - This demonstrates how we are meeting the challenge of running successful businesses while fulfilling our social mission.
-Development - Capacity and supply - This demonstrates the capacity of the organisation to develop new homes.
-Outcomes Delivered - This measure the services delivered to existing tenants.
-Effective Asset Management - This is how the organisation looks after the assets we manage.
-Operating Efficiencies - This demonstrates how we deliver value for money through our strategic and operational choices.
In April 2018 a new Value for Money Standard was introduced by the Regulator, along with a sector wide set of metrics which aids direct comparison between housing providers. These metrics are included within our key performance indicators below and are denoted with a *
|**Business Health**|**Quartile**|
|---|---|
|**2019/20**
**2020/21**
**Quartile 1**
**Median**|**Quartile 3**
**Performance**|
|Operating margin (overall)*
13.79%
17.25%
15.03%
21.50%|27.43%
Second|
|Operating margin (social housing||
|lettings)*
9.75%
13.33%
16.21%
23.60%|29.45%
Bottom|
|EBITDA MRI (as % interest)*
N/A
N/A
134.30%
196.10%|286.60%
N/A|
|*EBITDA (MRI) : Earnings before Interest Tax, Depreciation and Amortisation - Major||
|Repairs Included||
|As a small specialist supported housing provider we expect to incur higher costs than other providers and therefore attain a lower||
|operating margin. As we do not have any loans currently the EBITDA metric is non-operable. We|currently have a high level of|
|liquidity and this is in preparation for engaging in developments over the next few years. The wish|for expansion is mitigated by|
|the wish to engage in appropriate, relevant housing to fulfill local need that offers value for money|and is a size and scale|
|appropriate to our organisation. The current development will hopefully be the first of several over|the next few years.|
|**Development (Capacity & Supply)**|||**Quartile**|
|---|---|---|---|
|**2019/20**|**2020/21**
**Quartile 1**
**Median**|
**Quartile 3**|**Performance**|
|Units developed (absolute)
0|0|||
|New Supply Delivered %*
0.00%|0.00%
0%
1.30%|
2.60%|Bottom|
|Gearing %*
N/A|N/A
17.85%
33.80%|
46.12%|Bottom|
|We are mid way through a development expected to complete in June, so the number of units developed and new supply delivered||||
|is zero this year, but will be recognised in the metrics next|year. We do not currently have any loans and as an organisation prefer|||
|to finance developments through other sources of funding|where possible and appropriate. As a|small specialist|supported|
|housing provider, we have a smaller asset base to set against any loans and a lower operating margin than others within the||||
|industry meaning any loan would be of a higher risk to us.||||
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|**Outcomes Delivered**|||||**Quartile**|
|---|---|---|---|---|---|
|**2019/20**|**2020/21**|**Quartile 1**|
**Median**|**Quartile 3**|**Performance**|
|Customer satisfaction
-|-|80.15%|
86.90%|91.05%|-|
|Reinvestment %*
0.00%|22.68%|2.86%|
6.10%|9.67%|Top|
|Investment in Communities
-|-||£67 per property||-|
|As a very small provider the reinvestment metric will be|subjected to|massive peaks and troughs depending on the stage any||||
|developments have reached. This year we are part way|through the development||of 4 units, expected to complete in June, which|||
|although small is significant proportionally for us. Although we have not undertaken a formal customer survey we will always||||||
|listen to their views regardingthe deliveryof services.||||||
|**Effective Asset Management**||||||**Quartile**|
|---|---|---|---|---|---|---|
||**2019/20**|**2020/21**|
**Quartile 1**|**Median**|**Quartile 3**|**Performance**|
|Return on capital employed (ROCE)|||||||
|% *|4.20%|4.88%|
1.97%|2.80%|3.79%|Top|
|Occupancy|70.37%|79.22%|
98.89%|99.28%|99.70%|Bottom|
|Ratio of responsive repairs to planned|||||||
|maintenance|N/A|N/A|
0.44|0.64|0.89|N/A|
|As a small provider a void property has a large impact on||the percentage of occupancy. Over the last two years we have started to|||||
|streamline some of our underperforming projects, selling three properties with an aim||||to reinvest these funds into properties or|||
|developments which are more able to meet the housing need in our|||area. Occupancy|has also been impacted by Covid restrictions|||
|making some voids longer than we would|like. We hope the occupancy levels will improve once||||the streamlining|is complete|
|and Covid restrictions are more relaxed.|||||||
|**Operating Efficiencies**
**Quartile**|
|---|
|**2019/20**
**2020/21**
**Quartile 1**
**Median**
**Quartile 3**
**Performance**|
|Headline social housing cost per unit|
|£
£10,932
£11,742
£5,031
£4,023
£3,377
Bottom|
|Overheads as % adjusted turnover
N/A
N/A
16.98%
13.90%
10.96%
N/A|
|We are intending to expand our non-supported social housing portfolio over the next few years and this should create a trend in a|
|positive direction, bringing down our overall cost per unit. Currently 80% of our housing provision is supported; the average|
|headline social housing cost per unit of supported housing providers is £9,900 with some other small specialist providers topping|
|£20,000 placing our cost per unit in context. As a small provider the sale of some of our properties meant the decrease in the|
|number of units the costs are spread over overwhelms the cost savings involved, causingan increase.|
## **Key to Quartile Performance**
Top : the top 25% of associations Third : above median but not top quartile Second : below median but not bottom quartile Bottom : the bottom 25% of associations
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
## **FUTURE PLANS**
Once the Hudson House extension and refurbishment scheme has been completed in June and the flats tenanted, we will turn our attention to the potential development of other properties and/or sites. A housing demand assessment was undertaken to identify areas of demand in County Durham and sites/properties will be identified as potential development opportunities as a part of plans to develop affordable, general needs family accommodation through our Kepier Homes brand.
We will continue to expand the volunteering programme, increase the level of donations received and continue to promote an increasing level of fundraising opportunities. Volunteers are key to developing this secondary funding and raising the profile of the charity. The programme has grown to a point where an additional resource is needed to coordinate the recruitment and management of volunteers.
We plan to promote corporate volunteering and advertise CSR opportunities to local private and public sector organisations.
Marketing, communications and engagement enables us to highlight the work we do and encourage donations and volunteering. This will remain a priority focus going forward.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Durham Action on Single Housing Limited is a Charitable Company limited by guarantee, incorporated on 10th February 1972 (under the name of Durham Cyrenians Limited) and registered as a charity on the same day. The company was established under a Memorandum of Association which set out the objects and powers of a charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
The Association registered with the Homes England as a Registered Provider of affordable and social housing under the Housing Act 1996 on the 20th March 2020.
Trustees are automatically retired by rotation every three years at the annual general meeting but are eligible for re election where appropriate. Anyone thinking of joining the Board of Trustees will be invited to attend meetings as an observer before formally joining the board.
The charity has a Trustee Board with our standing orders allowing for up to 12 members, currently operating with 9 members, who meet on a bi-monthly basis. In addition, staff, including the Operational Manager, the Strategic & Business Development Manager, and a member of the Finance team attend the board meetings.
The Governance documents continue to be reviewed on a rolling programme with the Board. In January the Board adopted the 2015 NHF Code of Governance and Code of Conduct. The Governance and Financial Viability Standard was then self-assessed as part of this programme as compliant in June 2021.
The Board of Trustees is also committed to maintaining regular dialogue with Homes England and the Regulator for Social Housing (RSH) to enable the charity to meet the regulatory standards laid down for Registered Providers.
A business development plan is maintained on an ongoing basis, given a full strengths, weaknesses, opportunities and threats (SWOT) analysis. The Business Continuity Plan has been updated as necessary, as has the Risk Register, in accordance with any changes relating to Covid.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
01041946 (England and Wales)
## **Registered Charity number**
501556
Page 7
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
**Report of the Trustees for the Year Ended 31 March 2021**
**Registered office** Hudson House Gort Place Gilesgate Durham County Durham DH1 1EY
## **Trustees**
Ms M M Ashdown Trustee Mr P S Conway Trustee Mr L A Punton Chair (resigned 24/11/20) Mrs M Pinder Trustee (resigned 24/11/20) Mrs C J Curry Trustee Mrs H Burton Trustee Mr G Eaborn Chair Mrs V Halliday Trustee Ms R Craige Secretary Mr M D Reid Trustee Ms M Woods Trustee (resigned 8/10/20) Ms M Roe Trustee (appointed 29/9/20) Mr W Manners (appointed 29/9/20)
**Company Secretary** Ms R Craige
## **Auditors**
Mitchell Gordon LLP Accountants and Statutory Auditor 43 Coniscliffe Road Darlington Co. Durham DL3 7EH
## **Registered Provider number**
5087
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Durham Action On Single Housing Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Housing SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
**Report of the Trustees for the Year Ended 31 March 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Mitchell Gordon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr G Eaborn - Trustee
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## **Report of the Independent Auditors to the Members of Durham Action On Single Housing Limited**
## **Opinion**
We have audited the financial statements of Durham Action On Single Housing Limited (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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## **Report of the Independent Auditors to the Members of Durham Action On Single Housing Limited**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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## **Report of the Independent Auditors to the Members of Durham Action On Single Housing Limited**
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sectors in which the company operates; -We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection compliance, anti-bribery, employment, environmental and health and safety legislation.
-We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
-Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit;
-These procedures did not identify any potentially material actual or suspected non-compliance.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
-Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
-Performed analytical procedures to identify any unusual or unexpected relationships;
-Reviewed material journal entries to identify unusual transactions or posting by unusual users;
-Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
-Investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-Agreeing financial statement disclosures to underlying supporting documentation;
-Reading the minutes of meetings of those charged with governance;
-Enquiring of management as to actual and potential litigation and claims;
-Reviewing correspondence with HMRC and the company's legal advisors.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance of fraud and cannot be expected to detect non-compliance with all laws & regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 12
## **Report of the Independent Auditors to the Members of Durham Action On Single Housing Limited**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr N Vassilounis FCCA (Senior Statutory Auditor) for and on behalf of Mitchell Gordon LLP Accountants and Statutory Auditor 43 Coniscliffe Road Darlington Co. Durham DL3 7EH
Date: .............................................
Page 13
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
5
Harry Mears House
Vulnerable Womans Project
Unsupported Shared Accommodation
Private Landlord Partnership
Long Term Support and Other Properties
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Harry Mears House
Vulnerable Womans Project
Unsupported Shared Accommodation
Private Landlord Partnership
Long Term Support and Other Properties
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
19
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
35,388
53,133
126,478
22,612
49,022
81,613
5,597
373,843
-
-
33,203
-
13,702
46,905
326,938
(208,801)
118,137
1,579,223
1,697,360|Restricted
fund
£
-
77,536
149,548
-
45,784
57,816
-
330,684
127,700
274,332
-
96,949
64,703
563,684
(233,000)
208,801
(24,199)
38,817
14,618|31/3/21
Total
funds
£
35,388
130,669
276,026
22,612
94,806
139,429
5,597
704,527
127,700
274,332
33,203
96,949
78,405
610,589
93,938
-
93,938
1,618,040
1,711,978|31/3/20
Total
funds
£
22,503
129,602
274,900
29,267
99,113
142,340
4,858
702,583
123,425
275,523
65,064
92,533
77,504
634,049
68,534
-
68,534
1,549,506
1,618,040|
|---|---|---|---|---|
The notes form part of these financial statements
Page 14
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
|**Balance Sheet**
**31 March 2021**
Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
1,055,350
**CURRENT ASSETS**
Stocks
14
-
Debtors
15
9,371
Cash at bank
875,767
885,138
**CREDITORS**
Amounts falling due within one year
16
(65,724)
**NET CURRENT ASSETS**
819,414
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
1,874,764
**ACCRUALS AND DEFERRED INCOME**
18
(177,402)
**NET ASSETS**
1,697,362
**FUNDS**
19
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
222
28,620
55,350
84,192
(33,082)
51,110
51,110
(36,494)
14,616|31/3/21
Total
funds
£
1,055,350
222
37,991
931,117
969,330
(98,806)
870,524
1,925,874
(213,896)
1,711,978
1,697,362
14,616
1,711,978|31/3/20
Total
funds
£
938,471
434
40,204
701,855
742,493
(50,451)
692,042
1,630,513
(12,473)
1,618,040
1,579,223
38,817
1,618,040|
|---|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr G Eaborn - Trustee
The notes form part of these financial statements
Page 15
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
|**Cash Flow Statement**
**for the Year Ended 31 March 2021**
31/3/21
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
368,992
Net cash provided by operating activities
368,992
**Cash flows from investing activities**
Purchase of tangible fixed assets
(239,327)
Sale of tangible fixed assets
94,000
Interest received
5,597
Net cash (used in)/provided by investing activities
(139,730)
**Change in cash and cash equivalents in**
**the reporting period**
229,262
**Cash and cash equivalents at the**
**beginning of the reporting period**
701,855
**Cash and cash equivalents at the end of**
**the reporting period**
931,117|31/3/20
£
101,241
101,241
(3,389)
39,999
4,858
41,468
142,709
559,146
701,855|
|---|---|
The notes form part of these financial statements
Page 16
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Cash Flow Statement**
## **for the Year Ended 31 March 2021**
|**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING**
**ACTIVITIES**
31/3/21
£
**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
93,938
**Adjustments for:**
Depreciation charges
848
Loss on disposal of fixed assets
27,600
Interest received
(5,597)
Decrease in stocks
212
Decrease in debtors
2,213
Increase in creditors
48,355
Increase in advanced payments
177,402
Increase in deferred income
24,021
**Net cash provided by operations**
368,992|31/3/20
£
68,534
493
28,329
(4,858)
145
3,681
6,269
-
(1,352)
101,241|
|---|---|
2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1/4/20|Cash flow|At 31/3/21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|701,855|229,262|931,117|
||701,855|229,262|931,117|
|**Total**|701,855|229,262|931,117|
The notes form part of these financial statements
Page 17
**DURHAM ACTION ON SINGLE HOUSING LIMITED**
**Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1. STATUTORY INFORMATION**
The charitable company, a public benefit entity, is limited by guarantee and is registered in England and Wales. The registered office of the charitable company is Hudson House, Gort Place, Durham, DH1 1EY.
The presentation currency of the financial statements is the Pound Sterling (£).
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Housing SORP 2018 (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The financial statements have been prepared under the going concern basis of accounting.
## **Critical accounting judgements and key sources of estimation uncertainty**
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates .The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Grant income is accounted for using the performance model.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Allocation and apportionment of costs**
The trustees have allocated the support costs on a headcount and percentage of income basis which they deem to be the most accurate.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold property|- not provided|
|---|---|
|Assets in course of construction|- 20% on cost|
|Motor vehicles|- 25% on cost|
|Computer equipment|- at varying rates on cost|
Freehold property includes social housing and Hudson House.
No depreciation is charged on freehold property as residual values are so far in excess of carrying values as to make any depreciation amount immaterial.
continued...
Page 18
**DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Development funds are earmarked funds for the development of the charitable activities.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measure at their settlement value.
## **3. DONATIONS AND LEGACIES**
|Donations
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Harry
Mears
House
Accommodation
£
Rents receivable
45,453
Service charges
7,680
Supporting people funding
77,536
Sundry income
-
130,669|31/3/21
31/3/20
£
£
35,388
22,503
31/3/21
31/3/20
£
£
5,597
4,858
Vulnerable
Unsupported
Womans
Shared
Project
£
£
116,699
19,544
6,052
3,068
149,548
-
3,727
-
276,026
22,612|
|---|---|
continued...
Page 19
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **5. INCOME FROM CHARITABLE ACTIVITIES - continued**
|Long Term
Private
Support
Landlord
and Other
Partnership
Properties
£
£
Rents receivable
44,763
75,011
Service charges
4,259
6,602
Supporting people funding
45,784
57,816
Sundry income
-
-
94,806
139,429|31/3/21
Total
activities
£
301,470
27,661
330,684
3,727
663,542|31/3/20
Total
activities
£
313,193
31,278
330,021
730
675,222|
|---|---|---|
During the year we had occupancy rates of 93% Harry Mears House, 91% Vulnerable Womens Project, 93% Long Term Support and Other Properties and 81% Private Landlord Partnership. These are all slightly lower than usual, with some challenges during last spring/summer with moving new people in whilst complying with restrictions at the time. Unsupported Shared Accommodation had 59% occupancy which has increased from previous years, and the continued streamlining of this project with the sale of additional properties will hopefully continue the trend in a positive direction for the future.
## **6.**
## **CHARITABLE ACTIVITIES COSTS**
|Harry Mears House
Vulnerable Womans Project
Unsupported Shared Accommodation
Private Landlord Partnership
Long Term Support and Other
Properties
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Housing management
Housing services
Personal services
Support costs
Other costs|Direct
Costs (see
note 7)
£
126,501
273,133
32,723
96,230
77,206
605,793|Support
costs (see
note 8)
£
1,199
1,199
480
719
1,199
4,796
31/3/21
£
376,808
99,209
18,876
32,155
75,923
2,822
605,793|Totals
£
127,700
274,332
33,203
96,949
78,405
610,589
31/3/20
£
366,575
95,253
21,966
25,929
87,649
34,958
632,330|
|---|---|---|---|
Cost allocation includes an element of judgement and the charity has had to consider the cost benefit of detailed calculations and record keeping. To ensure full cost recovery on projects the charity adopts a policy of allocating costs to the respective cost headings through the year.
continued...
Page 20
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **8. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Harry Mears House|1,199|
|Vulnerable Womans Project|1,199|
|Unsupported Shared Accommodation|480|
|Private Landlord Partnership|719|
|Long Term Support and Other Properties|1,199|
||4,796|
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31/3/21|31/3/20|
|---|---|---|
||£|£|
|Auditors' remuneration|1,719|1,719|
|Depreciation - owned assets|848|493|
|Accountancy fees|2,575|2,575|
|Loss on disposal of fixed assets|27,600|28,329|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no expenses reimbursed to the trustees for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|31/3/21
£
346,668
22,605
7,535
376,808|31/3/20
£
336,956
21,921
7,698|
|---|---|---|
|||366,575|
The average monthly number of employees during the year was as follows:
||31/3/21|31/3/20|
|---|---|---|
|Charitable activities|13|13|
|Management and administration|5|5|
||18|18|
There were no employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the year.
continued...
Page 21
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
|**Notes to the Financial Statements- continued**
**for the Year Ended 31 March 2021**
**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,504
**Charitable activities**
Harry Mears House
52,272
Vulnerable Womans Project
125,737
Unsupported Shared Accommodation
29,267
Private Landlord Partnership
53,450
Long Term Support and Other Properties
84,463
Investment income
4,858
**Total**
368,551
**EXPENDITURE ON**
**Charitable activities**
Harry Mears House
-
Vulnerable Womans Project
-
Unsupported Shared Accommodation
65,064
Private Landlord Partnership
-
Long Term Support and Other Properties
17,692
**Total**
82,756
**NET INCOME/(EXPENDITURE)**
285,795
**Transfers between funds**
(228,270)
**Net movement in funds**
57,525
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,521,698
**TOTAL FUNDS CARRIED FORWARD**
1,579,223|
Restricted
fund
£
3,999
77,330
149,163
-
45,663
57,877
-
334,032
123,425
275,523
-
92,533
59,812
551,293
(217,261)
228,270
11,009
27,808
38,817|Total
funds
£
22,503
129,602
274,900
29,267
99,113
142,340
4,858
702,583
123,425
275,523
65,064
92,533
77,504
634,049
68,534
-
68,534
1,549,506
1,618,040|
|---|---|---|
The note show the split between restricted and unrestricted for each element of the Statement of Financial Activities in the previous year.
continued...
Page 22
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **13.**
## **TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Freehold
property
£
935,575
-
(121,600)
813,975
-
-
-
813,975
935,575|Assets in
course of
construction
£
8,516
239,327
-
247,843
8,516
-
8,516
239,327
-|Motor
vehicles
£
14,020
-
-
14,020
14,020
-
14,020
-
-|Computer
equipment
£
22,422
-
-
22,422
19,526
848
20,374
2,048
2,896|Totals
£
980,533
239,327
(121,600)
1,098,260
42,062
848
42,910
1,055,350
938,471|
|---|---|---|---|---|---|
Included in freehold property is a property that was revalued for the first time in year-end 31 March 2018 to the value of £200,000. The property was valued by independent valuers, Ashley Smith Chartered Surveyors, the value was based on the expected market value for the property. The cost of the property before revaluation was £301,586.
|**14.**|**STOCKS**|||
|---|---|---|---|
|||31/3/21|31/3/20|
|||£|£|
||Stocks|222|434|
|**15.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31/3/21|31/3/20|
|||£|£|
||Trade debtors|136|1,621|
||Prepayments and accrued income|37,855|38,583|
|||37,991|40,204|
continued...
Page 23
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN**|**ONE YEAR**||
|---|---|---|
||31/3/21|31/3/20|
||£|£|
|Trade creditors|83,561|33,630|
|Social security and other taxes|1,002|6,411|
|Other creditors|6,478|838|
|Accruals and deferred income|7,765|9,572|
||98,806|50,451|
## **17. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
||31/3/21|31/3/20|
|---|---|---|
||£|£|
|Within one year|14,425|14,425|
|Between one and five years|1,875|1,875|
||16,300|16,300|
During the year lease payments of £15,700 (2020: £15,700) were recognised as an expenses in the Statement of Financial Activities.
## **18. ACCRUALS AND DEFERRED INCOME**
Durham County Council have paid Durham Action on Single Housing Limited in advance for work that relates to future period. This includes:
|Supporting people funding
**19.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1/4/20
£
1,379,223
200,000
38,817
1,618,040|Net
movement
in funds
£
326,940
-
(233,002)
93,938||31/3/2021
36,494
Transfers
between
funds
£
(208,801)
-
208,801
-|31/3/2020
12,473
At
31/3/21
£
1,497,362
200,000
14,616
1,711,978|
|---|---|---|---|---|---|
|||||||
continued...
Page 24
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **19. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1/4/19
£
1,521,698
27,808
1,549,506||Incoming
resources
£
373,843
330,684
704,527
Net
movement
in funds
£
285,795
(217,261)
68,534||Resources
expended
£
(46,903)
(563,686)
(610,589)
Transfers
between
funds
£
(228,270)
228,270
-|Movement
in funds
£
326,940
(233,002)
93,938
At
31/3/20
£
1,579,223
38,817
1,618,040|
|---|---|---|---|---|---|---|
||||||||
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
368,551
334,032
702,583|Resources
Movement
expended
in funds
£
£
(82,756)
285,795
(551,293)
(217,261)
(634,049)
68,534|
|---|---|---|
Page 25
continued...
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **19. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1/4/19
£
1,521,698
27,808
1,549,506|Net
movement
in funds
£
612,735
(450,263)
162,472|Transfers
between
funds
£
(437,071)
437,071
-|At
31/3/21
£
1,697,362
14,616
1,711,978|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|
Resources|Movement|
|---|---|---|---|
||resources|
expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|742,394|(129,659)|612,735|
|**Restricted funds**||||
|Restricted fund|664,716|(1,114,979)|(450,263)|
|**TOTAL FUNDS**|1,407,110|(1,244,638)|162,472|
## **Transfers between funds**
During the year a total of £208,801 (2020: £228,270) was transferred from unrestricted funds to restricted funds in order to maintain the level of restricted funds held within the charitable company.
## **20. CONTINGENT LIABILITIES**
Freehold property includes two properties with the net book value of £113,098. There is no intention to sell these properties in the foreseeable future however if they are sold a proportion of the proceeds may have to be repaid to a third party.
Page 26
continued...
## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
## **Notes to the Financial Statements - continued**
**for the Year Ended 31 March 2021**
## **21. RELATED PARTY DISCLOSURES**
During the year the charitable company purchased goods and services totalling £28,117 (2020: £2,000) from key management personnel or family members of key management personnel. During the year key management personnel received remuneration totalling £62,893 (2020: £62,893).
## **22. ULTIMATE CONTROLLING PARTY**
The charitable company is controlled by the board of trustees.
## **23. RESTRICTED RESERVES**
Supporting People
The charitable company is currently funded by Supporting People (Durham County Council) to provide different levels of support in our accommodation to single homeless 16-65 year olds, to enable them to gain stability and independent living.
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## **DURHAM ACTION ON SINGLE HOUSING LIMITED**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Deposit account interest
**Charitable activities**
Rents receivable
Service charges
Supporting people funding
Sundry income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Housing management
Housing services
Personal services
Support costs
Other costs
**Support costs**
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
31/3/21
31/3/20
£
£
35,388
22,503
5,597
4,858
301,470
313,193
27,661
31,278
330,684
330,021
3,727
730
663,542
675,222
704,527
702,583
346,668
336,956
22,605
21,921
7,535
7,698
99,209
95,253
18,876
21,966
32,155
25,929
75,923
87,649
2,822
34,958
605,793
632,330
4,796
1,719
610,589
634,049
93,938
68,534|
|---|---|
|||
This page does not form part of the statutory financial statements
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