Financial Statements
For the year ended 31 March 2023
The St. Michael's Housing Twst
Charlty Number.. 504340
RegulatorofS(xi81 Housing number.. H1416

Financial Statements
For the year ended 31 March 2023
The Sl. Michael's Houslng Trust
Charity Number.. SM340
Regulatorof Soiyal HoUS￿g number. H1416
Contents
Twstee, Profe88k)nal Advisors and Registered Offlce
Rep)rt of the Trustee
Independent Ey2nir*s Report
Statement of Financial Actwiiies
Statement of movement on reserves
Statement of FInar￿kar Posltlon
10
Noles io the Financial Statements

Trustee, Professional Advisors and Registered Office
The sole corporaletrusteeof thetharity is PwkLcKlg8 Proiert ￿rityarKI aoJmFfjrty knmled bYG￿￿.
The corForate Injslee is managed by its Board of Directors ￿{Ch ¢onsi$ls of non-executive directors. Members of the
trust Board are not individual Irustges under charity law bul a¢1 as agents on behaw of the corpoTale trustee and fulfil
the trustee's dut￿ in accordanc• with the charitable objectives. The members of th• Board of Directors of the corwrale
trustee who served during the financial ygar were as follows..
David Pollard
NkJel Oldman
Deborah Locklon
Rod Moore
Mwreen Dover
Sarah Oldman
Malcolm Pell
Guy Dalby
Independent Examlners
Celerica
ALxounlanls
First Floor
The Old Chapel
9 Kempson Road
Leicester
LE2 8AN
Ba)k8Y8
National We¥lminster Bank plc
2-8 Church Street
Uverpool
L1 3BG
PrinGipal Offlco
2 Central Avenue
Leicester
LE2 1TB
R•gistered Numbers
Regulator of Social Housing number.. H1416
Charity Numbor
504340
Charlty Commls8ion Contsct
Eddie Balley

Report of the Trustee
The Iruslee presents their annual rep(Yt and unaudited financial statements for th8 year ended 31 MarGh 2023.
Principal actsvity
The charity is ConStr￿￿ed by a Trust Deed and registered with the Charty Commi5siongrs under charity number 504340
and the Regulator of Social Housing under H1416.
Th8 principal object of the Trust is the provision of sp8cial needs accommodation for young single homdess people.
Trusts•
The trustee of the company, at the d*e of this rgport, is listed on page 3.
Basls of proparatlon
St Micha81's Housing Trust's f￿anCIal position is strong and as such, the Direct(Ys continue to adopt the going Concern
basis.
Bu$in•ss r•vi•w
For the year ended 31 March 2023, the trust made a 8urplus of £36,460 {2022: £58,413>. Total revenue reserves now
stand al £494.76012022: £458.300).
Donatlons
No ¢harltable or political donations were made in the year.
Publlc bgnollt statement
The trustee has coTrJucted a comprehensive review of the stated obje(aNes of the charity and 15 satisfied th* all of
these are capable of being delivered for the public benefrt.
have further reviewed all the activities of the charity18sled against the charitable objectives of the Gharity, firsuy to
ensure that they fall within ils charitable objectives and secondly to test each activity is beirMJ delivgrfjd in a manner
whith can be construed as being for the public benefit.
The trustge is Satisfied thal Ihgre arg no actNlties conducted or promoled by the charity that are not open to all people
falling within ? defined class or calegory within thg broad paramgtor3 or objectives of the charity and that each aciivity
falls wthin the ¥tatutory definition of being for the public bgngfil.
Review of actlvltles and futur• b•n•fits
The trustee confimis it has referred to the guidanc* contsined in the Charty Commissions, general guidance on public
benefft when reviewing the charity's aims and objectives and in planning fijture athities for the year.
The statement of financial activities for the year is set oul on page 10 of the financial stalemenls. A summary of the
financial results and the work of the chartty is sel below. The focus for the charity continues to be on supporung Its
tenants and discLtssions are ongoing as to how best to do this.
Governan¢• of tho ¢harlty
The Iruslee of the charity is the Board Pth Lo(hJe l¥cieca. During the perlod under revlew. the Board met regularly.
Appllcalk)ns for Board membexship of P•k L(MYge ￿Ole(l (the trustee of the charity) Is generally sought by advertisement.
Board members of Park Lojge PrOj￿t receive regular training and development in order tr) ensure that they mainlaln
thelr skills and a high level of awareness concerning issues in the sector. A reviewof performance of the Board as a whole
and of Indwidual Board memlxrs lakes place each year.

Report of the Trustee (continued)
Govemance of the charlty {contlnu0d)
The Board of Pwk Ltsyge Pro* (the trustee of the charity) mel regularly lo review the strategy and parformance and to
agree operatlng plans and budgets. The Board of P*k Lty Pro1￿1 (the tfuslee of the charity) delegate￿rtairt functions
to Committees operating under spectfic lerms of referen*. MinLrtes of all Committee meetings are presented al Ihe
followng Board meeting.
The trustee delegates thg day to day management ofthe charity to Ecbjie Bailey. He Is the Centre Man￿er of P*LcwJgg
All govemance costs (including independent examinerfs fees, trustee expanses, trustee indemnity Insurance and costs
of producing statutory accounts) are Gurrenlly bome by Park Prol&X and are not recharged to the charlty.
Statémont of risk
The hJentlfl¢ation of major business risks and the appropriate response 1$ orKJoing through a bollom up risk management
process that involves staff armss Path LcKlg8 Pr￿￿ Risk maps are ultimately approved by the Board.
Charlty Govornanc• Code
The Charlty Governance Code is designed as a tool lo support continuous improvernenl. The Board, having reviewed
the Code's key principles, considers ils govemance structure and arrangemen1$ to be appropriate for the nature of its
operatlons, and as such has decided not lo fomally adopt the Code. The Board does however regularly visit the Code's
key princlples to ensure that the highest stsndards of governance are maintained.
Subwuent Events
The trustee confirm3 Ihal there have been no events since the financial period end which have had a maierial effect on
the financial position of the charity.
Insurance
Insuranc8 policies are maintalned by Pwk L(#Jge prO￿t for members of the Board against Ikqbilili&s in relation lo Ihe
Trust.
Disclosure of Inforniatlon to Ind•pgndent 8xarnlner
The trustee who held offic9 at the date of approval of this trustee rewt confirn that. so far 88 they are each aware,
there is no relevant infomiation of which the charity's independent examiner is unaware,. and the ITUStee has taken all
the steps that they ought to have taken as a trustee to make themselves aware of any relevant infomialon and to
establish that the charity's Ind&pendgnl examiner Is aware of that infomation.
Statgment of the tNst* r¢8ponsibllltlé8 In rospect of the annual roport of tho truslo8 and the flnanclal
statsments
The Trust89 is responsible for p￿￿Wing the Report of the Trusteas and the financlal statements in accordance wtth
applicable law and regulatiorts.
Charty law requires the Trustee io prepare financial statements for each financlal year in a(tordan¢e with United
Kingdom Generally Accepted Accounting Pra¢ti¢e {United Kingdom Accounllng Standards and applkable law). Under
charity law the Trusteg musl not approve the fir￿n¢la1 statements unless they are sallsfied that they give a true and fair
view of the stale of affairs of th8 charity and of the in¢oming re50urGes and appllcatlon of reswr¢es. induding the income
and expendtture, of thg charity for that period.

Report of the Trustee (continued)
Slatement of ihe truste¢ re8pon$lbllltle8 In respect of the annual report of the truslee and the flnanclal
slatomonts {contlnued)
In preparing these financlal statements, Ihe Trustee is required to=
select 8ullable accountlng pollcies and then apply them o)nsi$lenty',
make judgements and 8CLounllng e$tlmale$ that a￿ ￿¥sonable and prudent.,
stsle whether aptAicab18 UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial stalemgnl$', and
prepare the financial statements on the going concem basi5 unles5 it is inappropriate to presum8 that the
charity will continue in business.
The Trustee is reswnsible for keeping adequate accounting ￿COrdS that are sufficient lo show and explain the
charity's transaction$ and disclose with reasonable accuracy at any lime the financial position of the charity and
enable th8m to ensure thal the financial slatements (X&mply with the Charities Act 2011, the Housing and
Regen8ration Act 2008 and the A¢¢ounting Direction for PrNale Registered Providers of Social Housing 2019. They
are also responsibl8 for safeguarding the assets of the charity and hence for taking ￿asonable steps for the
prevention and detectlon of fraud and other irregularitw.
The Tru8le8 Is responslble for ensurlng that the Report of the Trustee Is prepared in ac￿rdance wilh the Statement
of Recommended Practlce, Accounllng by reglstered Social Houslng Providers 2018.
Statement8 of compllance
The Park Lojge pr￿￿t Board have revlewed Ihe effe¢tlvene88 of the System of Internal ¢onlrol for the year ended 31
March 2023.
Th8 Pth L￿98 have perfomied a 8etl-a88888ment against the Regulator's value for money standard.
By order of the Trustee
Pollard
Trustees of Park Lodge Proje
3111012024

INDEPENDENT EXAMINERS REPORT
to tho mombors of The St. Ml¢ha•l's Houslng Trusi
We report to the charty Iruslee on my examination of the accounts of the charity for the year ended 31 MarGh 2023
which are set out on page$ 8 to 14
Re8ponslbllltles and bas1$ of roport
As the charity's twstee you are re$ponslble for the preparation of the accounts in Sccordance with the requirements of
the Charities Act 2011 {'the Act,).
We report in respect of our examination of the chanty's accounts carried out under section 145 of the Act and in
carrying out my examination we have followed all the applicable Directions given by the Charity Commission under
section 145(5)Ib> of the AGt.
Indopondenl examlnorfs stalèmenl
We confim that we are qualified lo undertake the examinallon because we are members of the Asso(aation of
Chartered Certffied Accountants which is one of the listed bodles.
We have completed our examination. We confirm that no material matters have come lo our attentlon In ¢onnection
with the examination giving u5 cause to believe that in any malerlal respect..
accounting recc*ds were not kept in resFfjGt of the charity as required by section 130 of the Act., ¢y
2. th8 accounts do not a¢¢ord wth Ihose records," c
3. the accounts do not comply wtth the applicable requrements ￿ncernIng the f(Ym and content of accounts set out
in the Charrties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true
and fair vi8w' which is not a matter considered as part of an independent examination.
We have concerns and have come across no other matters in c￿nnectIon with the examination to which attention
shoul¢J be drawn in this report In order to enable a proper understanding of the accounts to be reached.
Chartered Association of Certffi&J Acc￿Untants
Flrst Floor
The Old Chapel
9 Kemp90n Road
Leicester
LE2 8AN
Date 31 October 2024

Statement of Financial Activities
for the year ended 31 March 2023
)te
2023
2022
Tumover
OperatiTrJ costs
36,887
(848)
209,606
(151,2021
Opgrallng 8urplus
36,039
58,404
Interest receivable and other Income
421
Surplus for tho y•ar
36,460
58,413
All amounts relale to ¢ontinuing aCt￿￿eS.
The notes on p4es 11 to 14 form part of these firrancial statements.
The statement of financlal act￿ltIeS contains all the gains and Iosges recogni¥fjd in the ygar.

Statement of movement on reserves
2023
2022
FuThJ balan¢05 broughtfoward
Surpluy for the y
458,3CKI
36,460
399.887
58,413
Fund balances carrled foTh•ard
494760
458,300
The notes on pages 11 to 14 fom) part of these financial stalements.

Statement of Financial Position
as at 31 March 2023
N￿8
2022
Tanglble asgets
Housing Prop￿leS
94.381
95.184
94,381
95,184
Current assets
Cash and cash equwalents
DebtfAS
390,458
76,400
353.195
76,4CKJ
466,858
429,596
Creditors: amounts falling due within one year
(895)
18951
Net current assats
464963
428,71KI
CredfLors: amounts falllng due after
more than one year
11
165.584)
I￿,584)
494,760
45B,31)0
Capltal and R￿8￿￿9
Income and Expenditure Reswve
494760
458,300
The notes on pages 11 to 14 fom) part of Ihese financial statements.
These financial slatemenis were approved by the Trustee on 31 Octolw 2024 and were signed on its behalf by:
Mr D Pollard
Trustees of Park Lodgo Project
ln

Notes to the Financial Statements
for the year •nd•d 31 March 2023
1 Accounting policies
Bas18 of accountlng
The financial slalements have been prepared in a¢c(Ydance wth Stslemenl of Recommended Practices Accounting by
Registered Social Houslro Providers 2018 and Aixounling and Reporting by Charities: staterne￿ of Recommended
Practice applicable lo charltles preparing their a¢¢ounts in accordance with the Finarcral RewtiThJ Standard for Smaller
Entities leffeclive 1 January 2019), Financial Rep￿ting Standard applicoble in UK and Republic of Ireland (FRS 102>
and the Charities Act 2011 and has applled the exemptions available unfjer the Charities SORP.
Bas18 of preparation
The charity's business activities, together with the factors likely to affect rts futu￿ development. perf0m￿nCe and
silion are set out in the Business Review on page 4. The charlty has considerable flnan¢ial resour￿ in ￿lation to
the a¢livilies lo be performed. The trustee beI￿VeS that the charlty L8 well placed to manage its trrtjsiness risks
su￿esSfullY despite the current uncertain econom￿ oullcok. The trustees have a reasonable expectation Ihal Ihe charity
has adequate resources to continue in OFerath)n exisl8nce for the foreseeable future.
The trustees, after revlewing the d)arity budgets and the fact that the charlty have adequate resource8 to contlnue In
buslness for the foreseeable future. The tru8lee8 therefore continue to &Jopt the golng concern ba8ls In preparlrtrJ the
annual flnancial statemenls.
Judgemgnts and key source8 of 68tlmatlon uncortalnty
The preparation of the flnanclal statements requires management to make judgements, estimates and assumptions that
affect the amounts reported for assets and liabilrties as al the 5talemerrt of Tinar￿181 posilion date the amounts
reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes
Could drffer from those estimates. Due to the nature of St Mlth*l's Houslng Trust and its operations, th8 estimation of
uncertainty included in Ihg accounts Is low.
Tumovor
TUrr￿Ver ￿presellts rent and service charges Ir￿me generated by 8UPPOrted IMwsirKJ bed spa(￿. Service charge
in¢ome is reGognised on an accrual basis.
Operatlng ¢08ts
Operating costs represenl serviGe tharge expenditure and property malntenance costs. Th8 managed agent operates
variable service charge in full ¢onsullation with residents. The charges wlll Include an allowance for the surplus or
deficit from prior years. wilh the surplus being returned lo residents by a reduced charge and a deflclt being recovered
by a higher charge. Until these are ￿tUrned or recovered, they are held as a creditor or debtor In the Statement of
financial position.
Flxed ass•t¥ and dwr•ciation
Tangible fixed assets are stated al cost less actumulaled ￿er￿ClatIOn and impairnenl. The cost of housing land and
properties ry)mprises purchase price together with in¢idenlal Costs of acquisition and improvements, including related
administration charges. Interest is capitalised during ¢on$lru¢lion of the property up to the date of pract￿1 completion,
by referen￿ to th• tru$Vs cost of borrowings.
Housing properties are managwj under the terms of the Tenanys Guarantee. Depwiation 1$ ¢harged on a $lraKdht4ine
basis over the estimated useful economic lrfe of the asset of 100 years to their residual value.
Debtors •fid Cr￿lI0r¥
Debtors and creditors wrth no gLqted interest rate arKI w8Nable or payable within one year are recorded at transaction
I￿. Any losses arising from impaiment are recc*3nised in the income stslement in other operating expenses.

Notes to the Financial Statements (continued)
For the year ended 31 March 2023
1 Accounting policies (Continued)
Social Houslng Granl (SHG)
When developments have been flnanced wholly or parlly by social housing and oth8r grants, the amouth of the grant
received has been included as deferred Sncome and recognised in Turnover over the estimated useful lrfe of the
associated asset under the acc¥uals mthjel. Social Housing Grant {SHG) received for items of cost written off in the
Statement of comprehen5Ne income account 1$ In¢luded 8$ part of lurnover.
When SHG in respect of housing propertles Sn the course of construction, exceeds the lotsl cost to dale of those h)using
oyties, the exc855 is shown as a cJJrrenl Ilablllty.
SHG must bo recycled under certain condltlons. ff a propety 1$ sold. or if another relevant event takes place. In these
cases. the SHG can be used for projects approved by the Homes England and Grgaler London Authority. However, SHG
may have to be repaid if certain conditions are r￿t met. If grant Is nol required to be reGyded or repaid, ary unamortised
grant is recognised as turnover. In certain circ#Jmstance5. SHG may be repayabte. and, in that evenL 1$ a $ubordinaled
unsecured repayable debt.
Value Added Tax
The St. Michael's Housing Trust is not registered for Value Added Tax IVAD. All amounts disclosed in the financlal
statements are inclusive of VAT where applicable.
2 Operating surplus
Total
2023
Tolol
2022
Rental I￿oMe
ice charges
Amortlsalon of Soclal Housing Grant
36.887
50.679
158.032
Total tumovor
36.887
209,606
Resources expendèd
Maintenance costs
Administration costs
Dewec4atKJn
150,339
Total opgrating costs
151202
Oporaling surplus
36,039
The above results relate wholly to support houslng a¢tlvllles.
3 Employee information
The charity has no employees and paid no remuneration or benefits lo trustee$ or Gonnected persons.

Notes to the Financial Statements (continued)
For the year endod 31 March 2023
4 Interest receivable
2023
2022
Bank interest rerEivable
421
415
5 Directors, emoluments
The trust has no employees and paid no remuneralion or benefrts to trustees or Mnne¢led ￿rsonS.
6 Independent Examiners Fees
The Independent Examinerfs Fees was £3,000 {2022: £6,000).
7 Fixed asset housing properties
At 1 Awil 2022
118,395
At 31 March 2023
118,395
Deproclatlon
At 1 April 2022
23.211
Charge for the year
A¢¢umulat•d D•pr•¢iation At 31 Mar¢h 2022
23.211
Nèt book valua at 31 March 2023
94,381
Nel Lhjok value at 31 Mar¢h 2022
95,184
St. Mrhaefs owns four properties ¢onsi$ting of13 bed Sp￿$.
All of the abov8 propertles ar8 Freehold. Pa* Lodg8 Pro￿ bear the costs of Ihe components and the depre¢iats'on.
Impalmiont Revl
An Impairmenl revlew of propèrty was und8rtaken at 31 March 2022. No Impaimient provisions were r4uired.

Notes to the Financial Statements (continued)
For the year ended 31 March 2022
8 Debtors
2023
2tr22
Amcwnts owed by Group und&1aking$
78,400
76,400
76,400
76,400
9 Creditors amounts falling due within one year
2023
2022
Amounts falllng due wlthln one year:
Amortisation of social housing grant
895
10 Taxation
The Trust h88 charitable status with th8 H M ReveThJe & CL￿M5 and is therefore not liable to tsx on Its SUrp￿ses.
11 Amounts falling due after more than one year:
S(tial housiro grant
Amortisation of social housing grant b
Amount lo be released In one year
92,342
(26.7581
92,342
{24,863)
(895)
65,584
65,584
12 Related party disclosures
The trust has taken exemption under Section 28.4 Charrtles SORP,
Control is exer¢i$ed thrwgh ctyporale trusteeship of Park Lodge Project ILimited by Guarante81.
14