2023-03-31-accounts - Coventry Cyrenians Limited

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Index to the financial	statements	statements
			Paries
Report ofthe trustees			2-16
Company information			17
Report of the independent		auditor	18-20
Statement offinancial	activities		21-22
Statement ofcash flows			23 - 24
Balance sheet			25
Notes to the financial	statements		26 - 34

~	Rent"			down f301,071
~	Donations	and	legacies	down f33,350
~	Grants			down f77,488
~	Other trading		activities	down f847

Principal risk identified				Steps taken to mitigate	Steps taken to mitigate	Steps taken to mitigate
Contractual service risks		—older		~	Contract meetings with providers
contracts not meeting	the	needs		~		Review during Management Team meetings across				all	service
of people and/or failing to meet					support sectors
latest government guidance			for	~		Quarterly review with Trustees to ensure		that both the			contract
support.						and the service delivery continues to meet the aims				of
						Coventry Cyrenians
Lack of available	affordable			~	Working with new landlords
suitable accommodation			to	~		Focussing on best value offer from landlords that offer					quality
support presenting need.						accommodation
				~		Approaching new partners including developers to			expand
						follow on accommodation offers
Safeguarding issues	result in a			~		Safeguarding included in management	and board reporting
poor outcome for a service user				~		CEO responsible for reporting concerns		to authorities
and reputational damage		for	the	~		Staff receive training
charity.
Poor quality service has			an	~		Management 8, Board reporting include		service quality			and
adverse impact on	our	service				complaints data,
users, resulting in a	reduction		in	~		Staff appraisals, training &organisational		reviews
positive outcomes.
The safety of our	staff		and	~		Training programme backed by robust policies for all staff						and
volunteers.						volunteers
				~		Investment in IT to support the safety ofstaff visiting
						accommodation
Health and safety of	our	service		~		Maintenance manager with responsibility		for Health		8	Safety
users in our accommodation.						requirements
				~		Maintenance issues reviewed as part of the Board			of Trustees
				~		Management Team oversees Health &		Safety
Adverse impact of	changes		in	Policies for Housing Benefit and Universal				Credit monitored				by the
central government policy.				management team and any material potential changes					notified			to the
				Board ofTrustees
The success of	the	charity		The		management team and the Board		of Trustees			regularly
depends on strong		funder		communicate with key stakeholders to obtain feedback					on		the	quality
relationships to enable		us	to	of	our service and relationship
secure contracts	to	provide
services.

Company information
COMPANY REGISTRATION NUMBER	1098794
CHARITY NUMBER	502421
REGISTERED OFFICE	Oakwood House
	Cheylesmore
	Coventry
	West Midlands
	CV1 2HL
BANKERS	Lloyds Bank
	30 High Street
	Coventry
	CV1 5RE
SOLICITORS	Band Hatton	Button
	53-55 Butts	Road
	Coventry
	CV1 3BH
	Keelys LLP
	28 Dam Street
	Lichfield
	WS13 6AAO
AUDITORS/ADVISORS	Harrison Beale 8 Owen Limited
	Highdown House
	11 Highdown		Road
	Leamington	Spa
	Warwickshire
	CV31 1XT
	Sayer Vincent		LLP
	Invicta House
	108-114Golden Lane
	London
	EC1YOTL

			Unrestricted	Designated	Restricted
			funds	Funds	funds	2023	2022
		Notes	6	E	E	E	E
Income and endowments	from;
Donations and legacies			57,625			57,625	90,975
Charitable acfivfflear Grants AccommodaUon charges			1,600,383		86,715	86,715 1,600,383	164,203 1,901,454
Other trading acUvltles Investments Other			21,453 110,207			21,453 110,207	15,155 21,246 96,108
Total Income		3	1,789,668		86,715	1,876,383	2,289,139
Expenditure;
Raising funds: Fundralslng Trading acUvltles			57,577	435		58,012	50,745 20,274
Charitable activities: Grants AccommodaUon			2,223 1,650,912	13,691	82,938	85,161 1,664,603	161,611 1,985,723
Total expenditure			1,710,712	14,128	82,938	1,807,776	2,218,353
Net Income/(expenditure)	for the year		78,956	(14,126)	3,777	68,607	70,786
Transfers between funds		14	(397,711)	397,711
ExcepUonal items —onerous contract provision							(51,716)
Net movement In funds			(318,755)	383,585	3,777	68,607	19,070
Tolal funds brought forward			611,764	1,943,502	25,963	2,581,229	2,562,159
Total funds carried forward		14	293,009	2,327,087	29,740	2,649,836	2,581,229

				Unrestricted	Designated	Restricted
				Funds	Funds	Funds	2022
			Notes	6	f	6	8
Income and endowments		from:
Donations and Iegarfes				90,975			90,975
Charitable actlvNssr
Grants				4,182		160,021	164,203
Accommodation charges				1,901,454			1,901,454
Other trading activities				15,155			15,155
Inveslmenls				21,246			21,246
Other				96,106			96,106
Total Income				2,129,118		160,021	2,289,139
Expenditure:
Raising funds:
Fundralslng				49,805	940		50,745
Trading aclivl6es				20,117	157		20,274
Charitable sctlvftars:
Grants				4,116		157,495	161,611
Accommodation				1,963,166	22,557		1,985,723
Total expenditure				2,037,204	23,654	157,495	2,218,353
Net income/(expenditure)		for the year		91,914	(23,654)	2,526	70,786
Transfers between	funds			198,564	(198,564)
Exceptional Items —onerous		contract prov)alon		(51,716)			(51,715)
Net movement In funds				238,762	(222,218)	2,526	19,070
Total funds brought	forward			373,002	2,165,720	23,437	2,562,159
Total funds carried forward			14	611,764	1,943,502	25,963	2,581,229

	Notes			2023f	2022f
Cash flows from operating
activities:
Net cash provided by operating				77,203	156,220
acgvities
Cash flows from investing
activities: Purchase ofproperty, plant and					(19,200)
equipment
Proceeds from sale of property,
plant and equlpmsnt Rani received from properties				21,453	21,246
Net cash provided by investing				21,453	2,046
activities
Cash flows from financing
activities:
Repayments of borrowings				(408,824)	(29,904)
Nel cash used in financing				(408,824)	(29,904)
activities
Change In cash and cash				(310,168)	128,362
equivalents In the reporting
period Cash and cash equivalents at the				838,117	709,755
beginning ofthe reporting period
Cash and cash equivalents at the end ofthe reporting period				527,949	838,117
Notes to the Statement of Cash Flows
a. Reconctiagon of net income/(expenditure)		to nei cash flow from operating	activities
				2023f	2022f
Net Income for the reporting period (as per the				68,607	19,070
statement of financial actlvlUes)
Adiustments for: DeprsdaUon charges				14,126	23,654
Profit on disposal offixed assets Interest charged Rent receivable (Increase)/decrease In debtors Increase/(decrease) in creditors				11,113 (21,453) 202,661 (197,851)	12,452 (21,246) (70,019) 192,309
Net cash provided by operating	activities			77,203	156,220

c.	Analysis	ofChanges	ofChanges	Net Funds
					At 01.04.2022	Cash Flow	At 31.03.2023
						f	6
Net cash
Cash at	bank and	in hand			~838 1	~30168	627 9
					838117	~310168	~527 949
Debt
Charity	loan due	within	1 year		(18,582)	18,582
Charity	loan due	after	more than	1 year	~379129	~379 29
					~37	397711

						Note	Unrestricted	Restricted
							Funds	Funds	2023	2022
							8	8	8	F.
Fixed assets
Tangible fixed assets							2,562,303		2,562,303	2,576,429
Current assets
Debtors							82,807		82,807	285,488
Cash at bank and In	hand						498,209	29,740	527,949	838,117
Total current assets							581,016	29,740	610,758	1,123,585
Liabilities:
Creditors: amounts	falling			due within one year
Trade and other creditors						9	(279,380)		(279,380)	(402,724)
Provisions						9	(243,843)		(243,843)	(336,932)
Net current assets							57,793	29,740	87,533	383,929
Total assets less current			llabgitles				2,620,098	29,740	2,649,836	2,960,358
Creditors: amounts		falling		after more than	one	10				(379,129)
year
Total net assets							2,620,096	29,740	2,649,836	2,581,229
Ths funds ofthe charity
Designated funds Designated revaluation		reserve							900,232 1,426,855	516,647 1,426,855
Unrestricted funds									293,009	611,764
Restricted funds									29,740
Total funds						13			2,649,836	2,581,229

to the financial state ncoming resources	to the financial state ncoming resources	ments (continued)
Donations and legacies
			2023	2022
			8
Legacies			7	23,847
Donations			57,618	67,128
Total donations and legacies			57,625	90,975
Grants
Warwick District Coundl			23,280	22,320
Sig Lottery/Other				10,676
Stratford District Council			40,480	127,025
Cov/Warks Partnership	Trust		22,955
Furlough				4,182
Total grant Income			86,715	164,203
Accommodation charges
AccommodaNon charges			1,600,383	1,901,454
Total accommodation	charges income		1,600,383	1,901,454
Total Income from charitable		activities	1,687,098	2,065,657
Other trading activities
Shop and cafd income				15,155
Total other trading activities		Income		15,155
Investment Income
Rent received			21,453	21,246
Total investment Income			21,453	21,246
Other Income
Sundry Income and charges			110,207	96,106
Total other income			110,207	96,106
Total income			1,876,383	2,289,139

nalysis of total re	sources ex	pen	ded
					Support	Other direct	Total	Total
				Staff costs	costs	costs	2023	2022
				E		E	E	E
Raising funds Fundraislng Trading acUvibes				46,772	11,240		58,012	50,745 20,274
Total expenditure	on raising	funds		46,772	11,240		58,012	71,019
Charitable eciivilies
Grants				31,013	16,915	37,233	85,161	161,611
AccommodaUon				619,446	288,339	756,818	1,664,603	1.985,723
Total expenditure	on charitable		activlges	650,459	305,254	794,051	1,749,764	2,147,334
Total expenditure				697,231	31B,494	794,051	1,807,776	2,218,353
Total unrestricted resources expended Total restricted resources expended				665,009 32,222	301,868 14,626	757,961 36,090	1,724,838 82,938	2,060,858 157,495
				697,231	316,494	794,051	1,807,776	2,218,353

				Ralslns	Trsdlns			Total	Total
				Funds	Aotlvltlaa	Grants	Aoaommodatlon	2023	2022
					0
Communications		&	IT	1,196		1,800	35,958	38,954	37,436
Depreciation				435		654	13,037	14,126	23,654
Flnandal	costs			2,822		4,247	37,669	44,738	143,293
Premises	costs			4,515		6,794	135,711	147,020	166,425
Printing,	postage	&	stationery	179		289	5,368	5,816	6,122
Miscellaneous				1,377		2,074	39,093	42,544	52,584
				10,524		15,838	266,836	293,198	429,514

			Rslslns	Tradlns			Total	Total
			Funds	Acevltias	Grants	Acoornmodaaon	2023	2022
			2	2	2			0
Auditors'	remuneration		202		304	6,069	6,575	4,675
Legal and	protessional	fees	514		773	15,434	16,721	33,625
			716		1,077	21,503	23,296	38,300
Other	direct costs	Include:
Oera	n leasepa	menls					295,664	509,162

				Support	Other direct	Total
			Staff costsf	costsf	costsf	2022f
Raising funds
Fundralsing			32,105	18,640		50,745
Trading acUvltles			5,437	3,105	11,732	20,274
Total expenditure	on raising funds		37,542	21,745	11,732	71,019
Charitable activities
Grants			58,902	33,644	69,065	161,611
Accommodation			724,175	412,425	849,123	1,985,723
Total expenditure	on charitable	activities	783,077	446,069	918,188	2,147,334
Total expenditure			820,619	467,814	929,920	2,218,353
Total unrestricted	resources expended		763,217	435,027	862,614	2,060,858
Total restricted resources expended			57,402	32,787	67,306	157,495
			820,619	467,814	929,920	2,218,353

				Raising	Trading			Total
				Funds	Acgvltlas	Grants	Accommodation	2022
				2	E	2	E	2
Communications		8	IT	1,488	248	2,685	33,015	37,438
DepreclaUon				940	157	1,697	20,860	23,654
Ftnarxdal	costs			3,688	614	6,656	132,335	143,293
Premises	costs			6,614	1,102	11,938	146,771	166,425
PdnUng,	postage	&	stationery	243	41	439	6,399	6,122
Miscellaneous				4,145	689	7,482	40,268	52,584
				17,118	2,851	30,897	378,648	429,514

			Ralalrr0	Trading			Total
			Frrrr dc	Acuvglas	Grants	Accommodsuon	2022
			E	E
Auditors'	remuneration		186	31	335	4,123	4,675
Legal and	professional	fees	1,336	223	2,412	29,654	33,625
			1,522	254	2,747	33,777	38,300

				2023	2022
Trade and other creditors				5	5
Trade creditors				(62,260)	163,165
Social security and other laxes				12,280	13,213
Deferred Income				22,108	20,602
Other creditors			303,923		182,770
Charity loan &I year					18,582
Pension contributions				3,329	4,392
			279,380		402,724
					2023
Provisions					6
Balance at start ofyear					336,932
Amounts released					(93,089)
Amounts provided for
Balance at end ofyear					243,843
Creditors: amounts falling due after more than one year
Trade and other creditors				2023	2022
				5	6
Charity loan 1-2 years					18,832
Charily loan 2-5 years					81,056
Charity loan &5years					279,241
					379,129
Charity loan
Acharity loan was secured in 2020, totalling F456,915which funded the acquisition of charged on this amount was at a percentage of2.89%above The Bank of England be fully repaid by 12s March 2039,The loan was secured on other properties owned			92 Holyhead Road during base rate, and lhe amount by the charity. Coventry		that year. Interest was expected to Cyrenlans elected
to repay lhs entire loan in full during	November	2022.

Balance	as at 1 April 2022	as at 1 April 2022		20,602
Amounts	released	to income during	the year	(20,602)
Amounts	deferred	during the year		22,108
Balance	as at 31	March 2023		22,108

t 31 March 2023 the company had annual commitments under n	on-cancellable operating leases as set out below	:
	2023 6	2022f
Operafing leases which expire: Within one year Between one snd five years	143,231 51,597	384,661 253,163
After more than five years
	194,828	837,824

company	sub-lets a properly	and ls due the fodowlng
			2023 5	2022f
OperaUng leases which		expire:
Within	one year		44,373	44,373
Between one and five years			22,167	66,550
After	more than five years
			66,560	110,933