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2024-03-31-accounts

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REGISTERED COMPANY NUMBER: 01088965 (England and Wales) REGISTERED CHARITY NUMBER: 503434

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 March 2024

for

Bradford Cyrenians Limited

(A Company Limited by Guarantee)

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Bradford Cyrenians Limited

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 21
Detailed Statement of Financial Activities 22 to 23

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Bradford Cyrenians Limited

Reference and Administrative Details for the Year Ended 31 March 2024

TRUSTEES

E Mowlem J Hadi J Butler E Walgrove P Johnson Miss S Forrest

REGISTERED OFFICE 255 Manningham Lane Bradford West Yorkshire BD8 7EP

REGISTERED COMPANY 01088965 (England and Wales) NUMBER

REGISTERED CHARITY 503434 NUMBER

AUDITORS

KJA Kilner Johnson Ltd (Statutory Auditors) Network House Stubs Beck Lane Cleckheaton BD19 4TT

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Bradford Cyrenians Limited

Report of the Trustees for the Year Ended 31 March 2024

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 2024. 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

Charitable objectives

Our purpose, as set out in the objectives contained within the Memorandum and Articles of Association state that we are committed to:

'The relief of poverty, sickness and old age in particular (but not exclusively) by the provision of housing, social housing, hostel accommodation and associated services, advice and information for the public benefit'

Bradford Cyrenians is a social housing landlord. As part of our services to vulnerable communities we provide a dual function that consists of housing related support services and an intensive housing management service. Our aim is to encourage individuals to take responsibility and enable them to develop life skills in a safe and non-threatening environment. Our focus is on prevention and enabling individuals to take control of their lives and enable them to sustain long term accommodation, thus re-presenting homeless.

Bradford Cyrenians Mission Statement reads:

Bradford Cyrenians is committed to delivering the provision of safe and secure housing, advice and support to vulnerable communities.

Using an empowering approach, we will work towards enabling vulnerable service users to find positive solutions whilst respecting their individual rights and choices.

The focus of our work

Our main focus continues to be to provide services to vulnerable communities through: - Provision of supported accommodation through our hostel and supported tenancies, which is delivered as part of the Temporary Accommodation (TA contract) with Bradford Council and our partner agency.

How our activities deliver public benefit

All our charitable activities focus on the delivery of support services or intensive housing management that enables vulnerable communities in taking back control, maintaining their accommodation and improving their quality of life. Working in partnership with a range of specialist providers, both statutory and VCS partners, we are able to support individuals and families to address a wide range of issues that help to improve their overall wellbeing and help them to become active citizens in their local community.

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Bradford Cyrenians Limited

Report of the Trustees for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Our Annual Report for 2023 has been developed by our organisation with the help of our beneficiaries and sets out our achievements for the year. Furthermore, our website is regularly updated to reflect the work and achievements carried out across Bradford Cyrenians accommodation and support services.

Charitable Activities

The Homeless Partnership (THP)

The Hostel and Supported Tenancies services have played their part in delivering a range of accommodation and support that have been commissioned as part of the temporary accommodation (TA) contract. Fulfilling our obligations and commitment to accommodating single men/women. We continue to see an increase in the multiple/complex needs that clients are presenting with, particularly mental and physical health issues. Teams continue to work collaboratively with Housing Options in order to minimise voids and wherever possible, bypass/minimise B&B stays. This contract runs until March 2024 and re-commissioning/tendering will commence mid-October 2023.

Cold Weather Provision (CWP)

Post Covid-19 and restrictions, the Hostel has re-engaged in Bradford's CWP initiative and we are fully committed to providing emergency CWP bed spaces to 2 additional service users when the temperature drops below zero.

Supporting Former Rough Sleepers with Accommodation & Support

Our Annual Report for 2024 is being developed by our organisation with the help of our beneficiaries and sets out our achievements for the year and will be available via our website (www.bradfordcyrenians.org.uk). Our website also reflects the work and achievements carried out across Bradford Cyrenians accommodation and support services. This year we saw the introduction of the Supported Housing Improvement Programme (SHIP) which aims to carry out quality inspections on non-commissioned service providers. The report produced following their inspections recognised the valuable work our teams deliver in terms of supporting our clients to reach their goals and outcomes whilst residing in good quality standard accommodation.

Charitable Activities

The Homeless Partnership (THP)

The Hostel and Supported Tenancies services have played their part in delivering a range of accommodation and support that has been commissioned as part of the temporary accommodation (TA) contract with the local authority. We fulfil our obligations by delivering a 15-bed hostel, 24 hours a day as well as 16 units of dispersed supported tenancies across the district. As previously reported, we continue to see an increase in the number of clients presenting with multiple/complex needs particularly mental and physical health issues. Teams continue to work collaboratively with Housing Options in order to minimise voids and wherever possible, bypass/minimise B&B stays. This contract as extended by a year and runs until March 2025, re-commissioning plans are currently underway.

Cold Weather Provision (CWP)

The Hostel continues to play its part in the district's cold weather provision and we are fully committed to providing emergency CWP bed spaces to 2 additional service users when the temperature drops below zero.

Supporting Former Rough Sleepers with Accommodation & Support

Our Re-Start Project continues to work with and accommodate former rough sleeping men and women to bypass them returning to the streets. Holistic and robust packages of support are developed in partnership with our service users to ensure that they needs and aspirations are considered in any support planning goals. The team continues to work closely with agencies such as Bradford HOP and No Second Night Out Service (NSNO) as well as primary health services including mental health teams.

Services for Men experiencing Domestic Abuse

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Bradford Cyrenians Limited

Report of the Trustees for the Year Ended 31 March 2024

Men Standing Up continues to support extremely vulnerable men fleeing domestic abuse and this service goes from strength to strength in delivering support through a variety of ways. MSU continues to work positively to support male victims and break down barriers, particularly those facing honour based violence/forced marriages, men with no recourse to public funds and victims from GBT communities.

Accommodation & Support for Ex-offenders

Supported Tenancies Offenders Project continues to support men/women who present with multiple/complex issues in addition to offending. The team deliver in-depth life skill training that means that our service users have a real opportunity of turning their lives around that do not involve a cycle of re-offending.

Floating Support & Outreach Services

We offer a limited floating support and outreach service and this aims to offer service users a seamless transition from our temporary accommodation into their own home. Our pre-tenancy support work and planned resettlement programme are all essential to preventing our service users becoming isolated or face problems that can result in their tenancy failing. Our funding ambitions for 2024/25 are to generate increased income so that we can offer more floating and outreach support.

Long-Stay Housing with Support

Homes4Life continues to offer longer stay housing to beneficiaries from within our current services, both commissioned and non-commissioned. Moving into our H4L service means that clients can work towards a full tenancy and not have to think about moving again. Alternatively, once they are ready they can move on with the support from the H4L team as part of a planned re-settlement programme.

Housing & Support for Lone Parents

Parent+ continues to work closely with other family-centred based organisations to ensure that a robust package of support can be provided to the family as a whole. In the current climate where the cost of living is having a negative impact on families we have seen an increase in the number of referrals to our service both from homeless families and those fleeing domestic abuse. To counteract this, our ambitions for 2024/25 are to take on more capacity and at the same time look at expanding the team through external fundraising opportunities.

FINANCIAL REVIEW

Financial position

As reported in the accounts we ended the financial year 2024, with a surplus of £88,484 Any surplus funding will help to underwrite plans to complete the works in the current year 2024/25

a. Hostel Duty area. We had intended to carry out a full refurbishment programme of our Hostel duty area but due to contractors' availability and materials not being available we have had to delay this work. Plans are underway to re-design the area as well as commission a contractor to carry out this work during the financial year 2024/25. b. CCTV upgrade at the hostel. After a serious incident last year we arranged for a complete CCTV audit to feed into assessing how effective our security arrangements are at the hostel. As a result we have now commissioned a new contractor who will be installing new cameras and monitoring system and they will also take on the future maintenance contract. These improvements mean we are raising the standards and safety measures at our 24/7 hostel service. This work will be undertaken imminently and will ensure our commitment to uphold the safety and security of our staff and service users at the hostel.

c. Server upgrade. In order to support our infrastructure and increase our productivity, we had planned this work to be completed in the last financial year. Unfortunately, as this is a large piece of work and due to additional software requirements this has slightly delayed the roll out. Whilst the bulk of the work began in the last financial year, we hope to have the full project completed in the first quarter of this financial year.

d. Remedial works that will increase our H&S standards has been identified through our annual building risk assessment. We are in the process of sourcing 3 lots of quotes due to the high costs related to these works being carried out. e. Vacant Posts. At the end of the last financial year we had a few posts vacant. These posts have subsequently been filled.

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Bradford Cyrenians Limited

Report of the Trustees for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisation

The company is limited by guarantee and has no share capital. The company is a registered charity. The charity is constituted according to memorandum and articles of association.

Bradford Cyrenians is a Registered Provider with Homes England, registration number 4860

The company is directed by a Management Committee, whose members are elected at a general meeting. It comprises of a Chair, Vice Chair, Treasurer and three other trustees who make up our committee. They meet ever 12 weeks with the Chief Executive and other staff representatives in attendance.

Appointment of new trustees

New trustees are appointed by an ordinary resolution of the Charity. All members are circulated with invitations to nominate trustees prior to the Annual General Meeting ready for elections to take place at the Annual General Meeting. Bradford Cyrenians has recruited no new members to the Board. This means we maintain a strong, skilled and committed board of 6 trustees, who each represent different sectors and bring an expertise/specialism towards the continued development and sustainability of Bradford Cyrenians.

Induction and training of new trustees

New trustees undergo orientation to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association and NCVO Code of Governance that we have adopted to promote good practice. Trustees are encouraged to attend in-house and external training events and e-learning to facilitate the undertaking of their role in key areas such as understanding the role / responsibility of being a trustee, Safeguarding responsibilities and upholding the principles of equality, diversity and inclusion to name but a few.

Risk management

The trustees have a risk management strategy, which comprises of an annual review of the risks faced by the charity. Trustees and the Chief Executive will consider potential risks and the systems and procedures/practices to mitigate those risks identified. A key element in our financial risk management plan is the annual review of our current assets and reserves policy.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Bradford Cyrenians 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

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.

In so far as the trustees are aware:

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Bradford Cyrenians Limited

Report of the Trustees for the Year Ended 31 March 2024

AUDITORS

The auditors, KJA Kilner Johnson Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

30/08/2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................

P Johnson - Trustee

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Report of the Independent Auditors to the Trustees of Bradford Cyrenians Limited

Opinion

We have audited the financial statements of Bradford Cyrenians Limited (the 'charitable company') for the year ended 31 March 2024 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:

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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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Report of the Independent Auditors to the Trustees of Bradford Cyrenians Limited

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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

While planning our audit, we have made enquiries of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage.

We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us.

While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities.

The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that requires any additional reporting.

These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect.

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.

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Report of the Independent Auditors to the Trustees of Bradford Cyrenians Limited

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors) Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Network House Stubs Beck Lane Cleckheaton BD19 4TT 03/09/2024

Date: .............................................

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Bradford Cyrenians Limited

Statement of Financial Activities for the Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
3
Contractual income from HRS
Provision of Accommodation
Other income
Total
EXPENDITURE ON
Charitable activities
4
Provision of Accommodation
Men Standing Up
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
121,236
230,273
1,674,868
1,700
2,028,077
1,939,593
-
1,939,593
88,484
464,985
553,469		 Restricted
funds
£
216,282
-
-
-
216,282
142,454
73,828
216,282
-
-
-		 2024
Total
funds
£
337,518
230,273
1,674,868
1,700
2,244,359
2,082,047
73,828
2,155,875
88,484
464,985
553,469		 2023
Total
funds
£
276,841
216,814
1,346,007
185
1,839,847
1,653,377
76,379
1,729,756
110,091
354,894
464,985

The notes form part of these financial statements

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Bradford Cyrenians Limited

Balance Sheet 31 March 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
69,939
CURRENT ASSETS
Debtors
11
126,221
Cash in hand
537,253
663,474
CREDITORS
Amounts falling due within one year
12
(179,944)
NET CURRENT ASSETS
483,530
TOTAL ASSETS LESS CURRENT
LIABILITIES
553,469
NET ASSETS
553,469
FUNDS
14
Unrestricted funds:
General fund
Sinking Fund
Planned Works
Landlord's Responsibility Fund
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 2024
Total
funds
£
69,939
126,221
537,253
663,474
(179,944)
483,530
553,469
553,469
448,469
40,000
40,000
25,000
553,469
553,469		 2023
Total
funds
£
71,651
128,966
453,131
582,097
(188,763)
393,334
464,985
464,985
339,985
40,000
55,000
30,000
464,985
464,985

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes form part of these financial statements

continued...

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Bradford Cyrenians Limited

Balance Sheet - continued 31 March 2024

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: 01/09/2024

............................................. FC92CC567E6144F... J Butler - Trustee

The notes form part of these financial statements

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Bradford Cyrenians Limited

Cash Flow Statement for the Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
93,218
93,218
(9,096)
(9,096)
84,122
453,131
537,253		 2023
£
150,742
150,742
-
-
150,742
302,389
453,131

The notes form part of these financial statements

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Bradford Cyrenians Limited

Notes to the Cash Flow Statement for the Year Ended 31 March 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 2024
£
88,484
10,808
2,745
(8,819)
93,218		 2023
£
110,091
11,664
(36,236)
65,223
150,742

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.4.23
£		 Cash flow
£		 At 31.3.24
£
Cash at bank and in hand 453,131 84,122 537,253
453,131 84,122 537,253
Total 453,131 84,122 537,253

The notes form part of these financial statements

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Bradford Cyrenians Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1. 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 Charities SORP (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.

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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold Improvements - 5% Straight Line Fixtures, fittings and equipment - 25% Straight Line Computer equipment - 25% Straight Line

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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.

continued...

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Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES

Gifts
Grants
Grants received, included in the above, are as follows:
Lottery
Grant and Awards
Floating Support Service
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Contractual income
Contractual income from HRS
Housing benefit
Provision of Accommodation
4.
CHARITABLE ACTIVITIES COSTS
Provision of Accommodation
Men Standing Up
5.
SUPPORT COSTS
Management
£
Provision of Accommodation
2,076,640
Men Standing Up
73,828
2,150,468		 Finance
£
307
-
307		 2024
£
2,370
335,148
337,518
2024
£
161,283
118,865
55,000
335,148
2024
£
230,273
1,674,868
1,905,141
Governance
costs
£
5,100
-
5,100		 2023
£
5,591
271,250
276,841
2023
£
148,160
63,090
60,000
271,250
2023
£
216,814
1,346,007
1,562,821
Support
costs (see
note 5)
£
2,082,047
73,828
2,155,875
Totals
£
2,082,047
73,828
2,155,875

continued...

16

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Auditors' remuneration 5,100 8,641
Depreciation - owned assets 10,808 11,664
Other operating leases 582,917 419,714

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

8. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
68,681
Charitable activities
Contractual income from HRS
216,814
Provision of Accommodation
1,346,007
Other income
185
Total
1,631,687
EXPENDITURE ON
Charitable activities
Provision of Accommodation
1,521,596
Men Standing Up
-		 2024
£
948,993
70,446
18,902
1,038,341
2024
46

Restricted
funds
£
208,160
-
-
-
208,160
131,781
76,379		 2023
£
774,010
58,750
35,352
868,112
2023
41
Total
funds
£
276,841
216,814
1,346,007
185
1,839,847
1,653,377
76,379

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

17

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
Total
1,521,596
NET INCOME
110,091
RECONCILIATION OF FUNDS
Total funds brought forward
354,894
TOTAL FUNDS CARRIED FORWARD
464,985
10.
TANGIBLE FIXED ASSETS
Fixtures
Long
and
leasehold
fittings
£
£
COST
At 1 April 2023
89,602
57,358
Additions
-
-
Disposals
-
(16,144)
At 31 March 2024
89,602
41,214
DEPRECIATION
At 1 April 2023
24,088
51,221
Charge for year
4,481
6,137
Eliminated on disposal
-
(16,144)
At 31 March 2024
28,569
41,214
NET BOOK VALUE
At 31 March 2024
61,033
-
At 31 March 2023
65,514
6,137
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 - continued
Restricted
funds
£
208,160
-
-
-
Computer
equipment
£
-
9,096
-
9,096
-
190
-
190
8,906
-
2024
£
19,196
107,025
126,221		 Total
funds
£
1,729,756
110,091
354,894
464,985
Totals
£
146,960
9,096
(16,144)
139,912
75,309
10,808
(16,144)
69,973
69,939
71,651
2023
£
18,346
110,620
128,966

continued...

18

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
Deferred grants		 2024
£
25,317
15,760
17,086
24,532
97,249
179,944		 2023
£
13,012
11,377
1,743
34,791
127,840
188,763

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2024
£
534,216
768,090
-
1,302,306		 2023
£
386,194
953,656
19,618
1,359,468

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Sinking Fund
Planned Works
Landlord's Responsibility Fund
TOTAL FUNDS		 At 1.4.23
£
339,985
40,000
55,000
30,000
464,985
464,985		 Net
movement
in funds
£
119,784
-
(12,263)
(19,037)
88,484
88,484		 Transfers
between
funds
£
(11,300)
-
(2,737)
14,037
-
-		 At
31.3.24
£
448,469
40,000
40,000
25,000
553,469
553,469

continued...

19

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Planned Works
Landlord's Responsibility Fund
Restricted funds
MSU
Floating Support Officer
STOP
TOTAL FUNDS		 Incoming
resources
£
2,028,077
-
-
2,028,077
73,828
55,000
87,454
216,282
2,244,359		 Resources
expended
£
(1,908,293)
(12,263)
(19,037)
(1,939,593)
(73,828)
(55,000)
(87,454)
(216,282)
(2,155,875)		 Movement
in funds
£
119,784
(12,263)
(19,037)
88,484
-
-
-
-
88,484

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
264,894
Sinking Fund
40,000
Planned Works
25,000
Landlord's Responsibility Fund
25,000
354,894
TOTAL FUNDS
354,894
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
MSU
Floating Support Officer
STOP
TOTAL FUNDS		 Net
movement
in funds
£
110,091
-
-
-
110,091
110,091
follows:
Incoming
resources
£
1,631,687
76,379
60,000
71,781
208,160
1,839,847		 Transfers
between
funds
£
(35,000)
-
30,000
5,000
-
-
Resources
expended
£
(1,521,596)
(76,379)
(60,000)
(71,781)
(208,160)
(1,729,756)		 At
31.3.23
£
339,985
40,000
55,000
30,000
464,985
464,985
Movement
in funds
£
110,091
-
-
-
-
110,091

continued...

20

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. MOVEMENT IN FUNDS - continued

Transfers between funds

It was agreed that the following amounts should be in the designated funds to cover costs within the next financial year:

Planned Works Fund £40,000 Landlord's Responsibility Fund £25,000

The funds in planned works is in respect of refurbishment and building work at the hostel and upgrades to CCTV.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

21

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Grants
Charitable activities
Contractual income
Housing benefit
Other income
Bank interest received
Total incoming resources
EXPENDITURE
Support costs
Management
Wages
Social security
Pensions
Rent
Rates and water
Light and heat
Staff expenses
Postage and stationery
Sundries
Repairs and maintenance
Subscriptions
Motor expenses
Legal and professional
Establishment expenses
Office costs
Telephone
Insurance
Staff training
Long leasehold
Fixtures and fittings
Computer equipment
Finance
Bank charges		 2024
£
2,370
335,148
337,518
230,273
1,674,868
1,905,141
1,700
2,244,359
948,993
70,446
18,902
582,917
27,057
31,417
21,116
1,585
16,641
107,214
16,460
22,366
17,170
135,234
79,656
22,292
15,248
4,946
4,480
6,138
190
2,150,468
307		 2023
£
5,591
271,250
276,841
216,814
1,346,007
1,562,821
185
1,839,847
774,010
58,750
35,352
419,714
13,907
20,469
-
1,521
4,943
116,040
9,680
10,031
3,425
131,891
76,412
13,485
15,066
4,381
4,480
7,184
-
1,720,741
374

This page does not form part of the statutory financial statements

22

Docusign Envelope ID: DB397B48-DA60-4136-87B9-27684E4893CBDocusign Envelope ID: FC031FED-9E01-4D5A-A894-D301E1C5820A

Bradford Cyrenians Limited

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
Finance
Governance costs
Auditors' remuneration
Total resources expended
Net income		 2024
£
5,100
2,155,875
88,484		 2023
£
8,641
1,729,756
110,091

This page does not form part of the statutory financial statements

23