**Registered number: 01523836 Charity number: 510904**
## **Petrus Community**
(A Company Limited by Guarantee) Trustees' Report and Financial Statements
For the Year Ended 31 March 2021
## **Petrus Community (A Company Limited by Guarantee)**
## **Contents**
|||Page|
|---|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**||1|
|**Trustees' Report**||2 - 7|
|**Statement of Trustees' Responsibilities**||8|
|**Independent Auditor's Report on the Financial Statements**||12
9 - 12|
|**Statement of Financial Activities**||13|
|**Balance Sheet**||14|
|**Notes to the Financial Statements**|15 - 34||
## **Petrus Community (A Company Limited by Guarantee)**
## **Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2021**
|**Trustees**|Dr M R Birkett, Chair (until 26 August 2021)|
|---|---|
||A Underdown|
||C Banton|
||Dr E Smith|
||P Culkin|
||L Robinson (resigned 10 April 2020)|
||P Roberts, Chair (from 26 August 2021) (appointed 27 May 2021)|
|**Company registered**
**number**
01523836
**Charity registered**
**number**
510904
**Registered office**
The Foundry
42 Henry Street
Liverpool
England
L1 5AY
**Company secretary**
J Vincent
**Senior Management**
**Team**
Sonia Denham - Head of Petrus
**Independent auditor**
BDO LLP
5 Temple Square
Temple Street
Liverpool
L2 5RH
**Bankers**
National Westminster Bank
250 Bishopsgate
London
EC2M 4AA
**Solicitors**
Weightmans
Drury House
19 Water Street
Liverpool
L2 0RP||
Page 1
## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report For the Year Ended 31 March 2021**
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2020 to 31 March 2021. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Structure, Governance and Management Status**
The Charity is a company limited by guarantee and is registered as a Charity with the Charity Commission. The affairs of the Charity are governed by its Memorandum and Articles of Association.
## **Organsiation**
The Charity complies with the principal recommendations of the National Housing Federation’s code of governance “Excellence in Governance - Code for Members and Good Practice Guidance” (Revised 2015).
The Charity is run by a council of management who are responsible for setting the strategic direction of the organisation and for establishing policy.
Overall responsibility for the day to day running of the Charity is delegated to the Head of Petrus, who reports to the Trustee Board Quarterly.
The trustees listed on page 1 are also directors of the charity for the purposes of company law. The maximum period a trustee can serve is 9 years.
## **Trustee Induction & Training**
From time to time advertisements are placed in appropriate journals advertising Trustee vacancies.
There is a standard application pack, which includes information about the Charity, legal responsibilities, job descriptions and an application form, including reference requests. Potential new Trustees meet with the Chair of Petrus and Head of Petrus and also meet senior representatives from the Regenda Group Board (parent board) and can then be invited to attend a Petrus Council meeting in an observer role. References checks are carried out.
Prior to appointment to the Petrus Council of Management, the application is considered by the parent board's Nominations and Remuneration Committee for final approval to the parent board.
Training for trustees is available and includes health and safety, charity law and finance.
Useful information is available for new trustees on the Charity Commission website, particularly in the section 'Guidance for Trustees and Charity Advisers'.
Page 2
## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 March 2021**
## **Organisational Structure**
Petrus Council of Management makes all major decisions affecting development, strategy, finance and personnel matters. There is a Business Plan agreed by the Petrus Trustees and approved by the Regenda Group Board which is the parent company.
There are a number of Social Value Ambassadors who periodically visit services and compile a written report which is presented to the Council of Management meeting.
Paid managers can make decisions regarding the day-to-day operation of services within an agreed schedule of delegations.
## **Risk review**
The directors have conducted a financial risk analysis of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for the authorisation of all operational aspects of the charitable company. These procedures are periodically reviewed to ensure they still meet the needs of the charity. There is a written financial risk assessment which forms part of the organisation‘s business plan.
## **Aims & Objectives for the Year**
The Charity's principal objectives as set out in the Memorandum of Association are the relief of poverty, sickness and old age; in particular (but without in any way limiting the generality of the foregoing words) for the relief of poverty of persons who by reason of mental or physical infirmity are unable to fulfil their duties as citizens or their obligations to their employers.
Petrus assists and supports a wide range of people in housing need and aims to develop their skills, independence and choice by providing good quality supported housing and associated services. During the year the Charity continued to provide this, working wherever possible to improve its level of service and standards.
## **Growth plan and projects**
Senior staff and Petrus trustees developed a set of key objectives and projects during the year which set out Petrus’ plan regarding growth across day services; supported housing and social enterprise activities. These projects are routinely reviewed with recommendations being presented to trustees throughout the year, and connects to the wider Regenda Group Corporate Plan.
There also continued to be a clear focus on improved systems (both written and ICT) and compliance in areas such health and safety.
Page 3
## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2021**
## **Significant Activities**
Despite the significant challenges presented by Covid-19 throughout 2020/21, Petrus Community continued to provide services to its residents, and service users. Throughout lockdown, Petrus continued to offer food, hot drinks, showers and laundry facilities to homeless visitors, along with access to vaccinations and support with health partners HART. Christmas dinner was also provided to visitors to the Petrus Hub throughout December 2020.
The second year of the Greater Manchester Combined Authority housing first pilot was completed. As zonal leads (in Bolton, Bury and Rochdale), staff continue to forge new successful working relationships and strategic partnerships, with the Bond Board and Early Break (new delivery partners in the zone) to the zone, Early Break.
Supported housing services continued to grow, with new management agreements in place for specialist housing management services in Rochdale, Oldham and Burnley. This was in addition to new bedspaces being created within existing supported housing, to meet increasing challenges around homelessness. The current management profile has doubled in volume during 2020/21.
Day-to-day activities within supported housing have been significantly impacted by the outbreak of Covid-19, both in respect of changing advice from government regarding supported housing management, and new considerations for health and safety practices (such as hand hygiene, PPE and social distancing). Management responded to this changing context by routinely reviewing associated risk assessments to ensure that where services continued, particularly for vulnerable adults who are homeless, or at risk of homelessness, they were delivered (and continue to be delivered) as safely as possible in line with government advice.
## **Main achievements of the Charity**
Petrus were awarded the Gold award for Investors in People during the assessment in December 2020. During 2020/21 Petrus also performed well financially in terms of occupancy, rent collection and voids managements in Supported Housing, accounting for an increase managed housing and a growing staff and management team to support this.
All non-residential projects including Greater Manchester Housing First; Rochdale Council funding for services at the Petrus HUB; Rochdale Town Centre Outreach; Gaddum’s Thinking Ahead Service; and Greater Manchester Women’s Support Alliance service, performed well – with most targeted outcomes and outputs being met despite challenging service capacity.
Petrus Incredible Edibles Rochdale (i.e., PIER community gardening project) was reopened when safe to do so, and whilst numbers of visitors were capped, the project continues to provide wellbeing and physical benefits to volunteers, and friends of Petrus.
Page 4
# **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2021**
## **Main achievements of the Charity (continued)**
Work has continued with Citizens UK (as founding members) engaging with Greater Manchester Combined Authority to raise awareness of homeless issues with Mayor Andy Burnham, at numerous engagement events. Petrus has again been supported throughout the year with fundraising, donations and support from kind-hearted people, organisations and groups, including:
- Rochdale Council
- Greater Manchester Combined Authority
- M&Y Construction and Maintenance
- Regenda Homes
- Tier 1
- Paul Roberts (Regenda Board member)
- McCormick (UK) Ltd
- Marathon Belting Limited
- Combustion Controls Ltd
- RiverWood Ltd
- The Grapes at Bamford
- HART
- Action Together
- Jalalia Jaame Mosque Rochdale
- H&T Pawnbrokers
- Whitworth Community High School
- Greater Manchester Womens Support Aliiance
- Greater Manchester
- The Bury Project
- Morrisons
- Co-op
- TKMaxx and Homesense Foundation
- Poundland
## **Pay policy for senior staff**
The Trustees regularly review the remuneration of senior staff using NJC scales as a guide.
## **Investment policy**
The Trustees regularly review where the charity's funds are invested and new accounts including fixed term deposits are opened periodically in order to ensure a competitive return is received.
Page 5
## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2021**
## **Review of the transactions and financial position of the charity**
The Charity‘s Statement of Financial Activities shows net expenditure in unrestricted funds for the year 2020/21 of £237,828 (2020: £91,108).
Accumulated funds are maintained in accordance with the reserves policy detailed below in order to enable the Charity to continue and to develop. Details of fixed assets are given in notes 11 and 12. The directors consider that the Charity‘s assets are available and adequate on a fund by fund basis to fulfil the obligations of the Charity.
## **Financial review**
## **Going concern**
The Company's latest Business Plan including sensitivity analyses and stress testing, approved May 2021, demonstrates that the Company has sufficient cash facilities in place to meet all liabilities as they fall due for a period of at least 12 months from the approval of these financial statements.
After a thorough review considering the impact of Covid-19 on all assets, liabilities and commitments, management has identified that the main risk comes from a reduction in local authority grant funding which is likely to impact on some community based support services delivered by Petrus. In addition, the Government's decisions around social distancing have had a significant impact on the running of the community furniture store operated by subsidiary Petrus People CIC, which resulted in its closure. The stress testing performed includes modelling the impact of a potential reduction in grant income.
The management team monitor this risk through the production of monthly management accounts and updates on subsidiary performance are also provided to the parent Board at each Board meeting. To mitigate this risk, a number of exit strategy reserves have been designated by Trustees to cover the costs associated with the suspension of related community based services whilst safeguarding the charity's ability to continue to maintain its high quality service provision of supported housing for homeless people with a variety of needs.
Based on this position the Board has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed.
Page 6
## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2021**
## **Reserves policy**
The directors have reviewed the charity's need for reserves (unrestricted funds) in line with the guidance issued by the Charity Commission and have designated £871k to meet the planned expenditure detailed in note 16 to the accounts.
The directors consider that, additionally, at least three months running costs should be retained to ensure that the Charity can run efficiently and meet the needs of its service users. After deducting designated funds, the balance of unrestricted (general) funds at the year-end met this target. This policy will be reviewed annually by the directors.
## **Future Developments**
Petrus Community will continue to provide services for the beneficiaries previously outlined, however there are emerging areas of development that will be actively sought over the coming years. This includes seeking out partnership with companies within the Regenda Group in order to maximise the potential strength of the offer to people experiencing homelessness through Petrus Community. This is in addition to working more closely with colleagues across the North West, to continually support and engage in the successful delivery of the authorities' homeless strategies.
## **Statement as to Disclosure of Information to Auditor**
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
## **Auditor**
BDO LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
## **Provision of Information to Auditors**
Each of the persons who are Trustees at the same time when the Trustees' report is approved has confirmed that:
- So far as that Trustee is aware, there is no relevant audit information of which the company’s auditors are aware; and
- That Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the company’s auditors in connection with preparing their report and to establish that the company’s auditors are aware of that information.
Approved by order of the members of the board of Trustees on 16 September 2021 and signed on their behalf by:
## **Mr P A Roberts**
Chair of the Board of Trustees
Page 7
## **Petrus Community (A Company Limited by Guarantee)**
## **Statement of Trustees' responsibilities For the Year Ended 31 March 2021**
The Trustees are responsible for preparing the Annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
## **Petrus Community (A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of Petrus Community**
## **Opinion on the financial statements**
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 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.
We have audited the financial statements of Petrus Community (“the Charitable Company) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **Basis for opinion on the financial statements**
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 Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## _Independence_
We remain independent of the Charitable Company in accordance with the ethical requirements 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.
## **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.
Page 9
## **Petrus Community (A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of Petrus Community (continued)**
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ report, other than the financial statements and our auditor’s report thereon. The other information comprises the information in the Trustees’ report. 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
## **Other Companies Act 2006 reporting**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ report, which includes the Directors’ Report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors’ Report, which is included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.
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 Trustee’s report.
We have nothing to report in respect of the following matters in relation to which 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 Directors’ 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’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
## **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 determines 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.
Page 10
## **Petrus Community (A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of Petrus Community (continued)**
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under the Companies Act 2006 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 an auditor’s report 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.
## _Extent to which the audit was capable of detecting irregularities, including fraud_
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:
Based on our understanding and accumulated knowledge of the Charitable Company, and the sector in which it operates we considered the risk of acts by the Charitable Company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. We considered the significant laws and regulations to be United Kingdom Generally Accepted Accounting Practice (including FRS102 and the Charities Statement of Recommended Practice) and the UK Companies Act 2006. All audit team members were briefed to ensure they were aware of any relevant regulations in relation to their work, areas of potential non-compliance and fraud risks.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of an override of controls), and determined that the principal risks were related to posting inappropriate journal entries, management bias in accounting estimates and improper incoming resources recognition.
Our audit procedures in response to the above included, but were not limited to:
- Agreement of the financial statement disclosures to underlying supporting documentation;
- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to the recoverability of debtors;
- Procedures to test incoming resources including agreement of incoming resources recognised to supporting documentation on a sample basis;
- Identifying and testing journal entries identified as potentially unusual. This testing included, but was not limited to, any journal entries posted with specific keywords, journals posted by unexpected users, and journals posted to least used accounts;
- Discussions with management, and those charged with governance, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Discussions with management, and those charged with governance to understand if there has been any Serious Incident Reports made to the Charity Commission either during the period or post year end;
- A review of trustees’ meeting minutes both during the period, and post year end, for any known or suspected instances of non-compliance with laws and regulation, Serious Incident Reports made to the Charity Commission or fraud;
- Enquires to confirm with management that there was no legal correspondence during the period, or post year end, requiring review;
- Obtaining an understanding of the control environment in monitoring compliance with laws and regulations.
Page 11
## **Petrus Community (A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of Petrus Community (continued)**
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **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 auditor’s 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.
**Hamid Ghafoor** (Senior Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Liverpool United Kingdom 30 September 2021
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
Page 12
## **Petrus Community (A Company Limited by Guarantee)**
## **Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2021**
|**Note**
**Income and**
**endowments from:**
Donations and legacies
4
Charitable activities
5
Investments
6
**Total income and**
**endowments**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net**
**(expenditure)/income**
Transfers between
funds
15
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
Net movement in funds
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**2021**
**£**
**27,842**
**1,597,154**
**516**
**1,625,512**
**1,848,136**
**1,848,136**
**(222,624)**
**(15,204)**
**(237,828)**
**1,716,598**
**(237,828)**
**1,478,770**|**Restricted**
**funds**
**2021**
**£**
**3,000**
**280,012**
**-**
**283,012**
**284,345**
**284,345**
**(1,333)**
**15,204**
**13,871**
**23,400**
**13,871**
**37,271**|**Endowment**
**funds**
**2021**
**£**
**7,601**
**-**
**103**
**7,704**
**-**
**-**
**7,704**
**-**
**7,704**
**102,509**
**7,704**
**110,213**|**Total**
**funds**
**2021**
**£**
**38,443**
**1,877,166**
**619**
**1,916,228**
**2,132,481**
**2,132,481**
**(216,253)**
**-**
**(216,253)**
**1,842,507**
**(216,253)**
**1,626,254**|**Total**
**funds**
**2020**
**£**
500,327
1,682,144
4,826
2,187,297
2,253,503
2,253,503
(66,206)
-
(66,206)
1,908,713
(66,206)
1,842,507|
|---|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 34 form part of these financial statements.
Page 13
## **Petrus Community (A Company Limited by Guarantee)**
**Registered number: 01523836**
## **Balance Sheet As at 31 March 2021**
|**Note**
**Fixed assets**
Intangible assets
11
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total net assets**
**Charity funds**
Endowment funds
15
Restricted funds
15
Unrestricted funds
15
**Total funds**|**203,509**
**1,405,289**
**1,608,798**
**(428,447)**|**2021**
**£**
**4,750**
**441,153**
**445,903**
**1,180,351**
**1,626,254**
**110,213**
**37,271**
**1,478,770**
**1,626,254**|125,369
1,422,706
1,548,075
(215,439)|**2020**
**£**
7,218
502,653|
|---|---|---|---|---|
|||||509,871
1,332,636|
||||||
|||||1,842,507|
|||||102,509
23,400
1,716,598|
||||||
|||||1,842,507|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 16 September 2021 and signed on their behalf by:
## **Mr P A Roberts**
Chair of the Board of Trustees
The notes on pages 15 to 34 form part of these financial statements.
Page 14
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **1. General information**
Petrus Community is a private company, limited by guarantee, incorporated in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Reference and Administrative Details page. Details of the Charity’s operations are provided in the Trustees Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
Petrus Community meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **2.2 Financial reporting standard 102 - reduced disclosure exemptions**
The Charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
- The requirements of Section 7 Statement of Cash Flows;
- The requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11,41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11 .48(b) and 11.48(c);
- The requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Regenda Group as at 31 March 2021 and these financial statements may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 SAY.
## **2.3 Exemption from preparing consolidated financial statements**
The Charity is a parent company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Page 15
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.4 Going concern**
The Company’s latest Business Plan including sensitivity analyses and stress testing was approved in May 2021 by the Regenda Board. After a thorough review considering the impact of Covid-19, Management are assured that there are sufficient cash reserves in place to meet liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
After a thorough review considering the impact of Covid-19 on all assets, liabilities and commitments, management has identified that the main risk comes from a reduction in local authority grant funding which is likely to impact on some community based support services delivered by Petrus. In addition, the Government’s decisions around social distancing have had a significant impact on the running of the community furniture store operated by subsidiary Petrus People CIC. The stress testing performed includes modelling the impact of a potential reduction in grant income and furniture store sales.
The management team monitor this risk through the production of monthly management accounts and updates on subsidiary performance are also provided to the parent Board at each Board meeting. To mitigate this risk, a number of exit strategy reserves have been designated by Trustees to cover the costs associated with the suspension of related community based services in addition to providing a working capital reserve for the store, whilst safeguarding the charity's ability to continue to maintain its high quality service provision of supported housing for homeless people with a variety of needs.
Based on this position the Board has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed.
## **2.5 Income**
All income is accounted for on a receivable basis. Any grants whose use is restricted by the grantor to some future accounting period are accounted for as deferred income until the restriction has been satisfied.
Income from investments represents interest from bank deposits. Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the Charity, this is normally upon notification of the interest paid or payable by the bank.
Any voluntary income received by way of donations and gifts is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers is not included.
## **2.6 Expenditure**
All expenditure is included in the accounts on the accruals basis and includes attributable irrecoverable VAT.
Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs. The bases on which support costs have been allocated are set out in note 7.
Page 16
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.7 Government grants**
Payments received from the government for furloughed employees are a form of grant. This grant money is receivable as compensation for expenses already incurred, and where this is not in respect of future related costs, is recognised in income in the period in which it becomes receivable and the related expense is incurred.
## **2.8 Intangible assets and amortisation**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Website development - 25 %
## **2.9 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|Leasehold improvements|-|5%|
|---|---|---|
|Fixtures, fittings and equipment|-|25%|
|Computers|-|25%|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
Page 17
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.10 Debtors**
Short term debtors are measured at transaction price, less any impairment.
## **2.11 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.12 Creditors**
Short term trade creditors are measured at the transaction price.
## **2.13 Deferred income**
The receipt in advance of a grant for expenditure that must take place in a future accounting period has been accounted for as deferred income and recognised as a liability.
## **2.14 Taxation**
As a registered Charity the company is generally exempt from Corporation Tax and Capital Gains Tax on its charitable activities but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **2.15 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 measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.16 Pensions**
Contributions in respect of the charity's defined contribution pension scheme are charged to the Statement of Financial Activities for the year in which they are payable to the scheme. The assets of the scheme are held separately from those of the Charity in a separately administered fund.
Page 18
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.17 Fund accounting**
General unrestricted funds are available to spend on activities that further any of the purposes of Charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.
Endowment funds principally comprises a legacy received in 2005. The trustees have the discretion to spend the capital (an expendable endowment), but their intention is to maintain the capital and use the investment income arising for the benefit of homeless people under the terms of the legacy.
Investment income, gains and losses are allocated to the appropriate fund.
## **2.18 Gift Aid**
The Charity owns the whole of the issued share capital of Petrus People CIC.
Each year Petrus People CIC pays to the Charity, under the provisions related to Gift Aid, a sum based on the taxable profits of the company. The payment of Gift Aid is subject to the reserves policy of the gifting entity, and the approval of the Charity.
At the reporting date there was no legal obligation in place for the subsidiaries to make a gift aid payment and as such, gift aid income has been accounted for in the Statement of Financial Activities on the date it was received.
Page 19
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## **Critical areas of judgement:**
- Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually.
- Bad debt recovery; the trustees have considered the recoverability of debts outstanding at the year end. Recoverability of debts is monitored, and appropriate provision is made where there is doubt over the recovery.
Page 20
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
27,842
Gift aid income from members of Regenda
Group
-
**Total 2021**
27,842
Donations
Gift aid income from members of Regenda Group|**Restricted**
**funds**
**2021**
**Endowment**
**funds**
**2021**
**£**
**£**
3,000
7,601
-
-
3,000
7,601
**Unrestricted**
**funds**
**2020**
**£**
25,327
475,000
500,327|**Total**
**funds**
**2021**
**£**
**38,443**
**-**|
|---|---|---|
|||**38,443**|
|||**Total**
**funds**
**2020**
**£**
25,327
475,000|
|||500,327|
## **5. Income from charitable activities**
|**Unrestricted**
**funds**
**2021**
**£**
Rents
1,308,470
RMBC Mental Health Grants
133,635
Stockport Women's Service
-
CGM - Womens Alliance
-
Volunteer Development
-
Town Centre Initiative
-
Housing First
-
Other Grants
10,329
Rochdale Homelessness Prevention Service
144,720
**Total 2021**
1,597,154|**Restricted**
**funds**
**2021**
**£**
-
-
52,933
22,985
15,000
7,557
175,537
6,000
-
280,012|**Total**
**funds**
**2021**
**£**
**1,308,470**
**133,635**
**52,933**
**22,985**
**15,000**
**7,557**
**175,537**
**16,329**
**144,720**|
|---|---|---|
|||**1,877,166**|
Page 21
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **5. Income from charitable activities (continued)**
Other income includes £10,329 of government income received for furloughed employees.
|**Unrestricted**
**funds**
**2020**
**£**
Rents
1,096,475
RMBC Mental Health Grants
133,561
RMBC Crisis Response Team Grants
107,350
Other RMBC Grants
144,720
Stockport Women's Service
-
CGM - Women's Alliance
-
Big Lottery Help Through Crisis
-
Town Centre Initiative
-
Housing First
-
Other Grants
-
**Total 2020**
1,482,106|**Restricted**
**funds**
**2020**
**£**
-
-
-
-
43,289
22,985
19,065
10,647
100,372
3,680
200,038|**Total**
**funds**
**2020**
**£**
1,096,475
133,561
107,350
144,720
43,289
22,985
19,065
10,647
100,372
3,680|
|---|---|---|
|||1,682,144|
## **6. Investment income**
|**Unrestricted**
**funds**
**2021**
**£**
Bank interest
516
**Unrestricted**
**funds**
**2020**
**£**
Bank interest
3,324|**Endowment**
**funds**
**2021**
**£**
103
**Endowment**
**funds**
**2020**
**£**
1,502|**Total**
**funds**
**2021**
**£**
**619**|
|---|---|---|
|||**Total**
**funds**
**2020**
**£**
4,826|
Page 22
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **7. Analysis of expenditure on charitable activities**
|Accommodation provision
Hub projects
Other projects
**Total 2021**|**Activities**
**undertaken**
**directly**
**2021**
**£**
1,177,623
229,430
362,693
1,769,746|**Support**
**costs**
**2021**
**£**
232,151
43,527
87,057
362,735|**Total**
**funds**
**2021**
**£**
**1,409,774**
**272,957**
**449,750**|
|---|---|---|---|
||||**2,132,481**|
|Accommodation provision
Hub projects
Other projects
**Total 2020**|**Activities**
**undertaken**
**directly**
**2020**
**£**
1,043,814
229,181
294,537
1,567,532|**Support**
**costs**
**2020**
**£**
492,693
127,751
65,527
685,971|**Total**
**funds**
**2020**
**£**
1,536,507
356,932
360,064|
|---|---|---|---|
||||2,253,503|
Page 23
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **7. Analysis of expenditure on charitable activities (continued)**
## **Analysis of direct costs**
|**Accommodation**
**provision**
**2021**
**£**
Staff costs
539,757
Agency staff & recruitment
31,161
Premises
551,051
Food & household
16,721
Residential participation
282
Depreciation
23,216
Other direct costs
15,435
**Total 2021**
1,177,623
**Accommodation**
**provision**
**2020**
**£**
Staff costs
501,003
Agency staff & recruitment
7,325
Premises
466,422
Food & household
24,553
Residential participation
58
Depreciation
26,854
Other direct costs
17,599
**Total 2020**
1,043,814|**Hub**
**projects**
**2021**
**£**
152,649
1,368
17,144
4,053
-
53,608
608
229,430
**Hub**
**projects**
**2020**
**£**
151,794
2,848
34,498
4,067
-
-
35,974
229,181|**Other**
**projects**
**2021**
**£**
201,845
-
9,423
-
-
13,282
138,143
362,693
**Other**
**projects**
**2020**
**£**
77,170
-
17,926
-
-
721
198,720
294,537|**Total**
**funds**
**2021**
**£**
**894,251**
**32,529**
**577,618**
**20,774**
**282**
**90,106**
**154,186**|
|---|---|---|---|
||||**1,769,746**|
||||**Total**
**funds**
**2020**
**£**
729,967
10,173
518,846
28,620
58
27,575
252,293|
||||1,567,532|
Page 24
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **7. Analysis of expenditure on charitable activities (continued)**
## **Analysis of support costs**
|**Accommodation**
**provision**
**2021**
**£**
Staff costs
57,410
Agency staff & recruitment
716
Audit fees
4,865
Legal, professional & consultancy
348
Other support costs
168,812
**Total 2021**
232,151
**Accommodation**
**provision**
**2020**
**£**
Staff costs
132,266
Agency staff & recruitment
5,928
Premises
2,518
Legal, professional & consultancy
18,683
Other support costs
333,298
**Total 2020**
492,693|**Hub**
**projects**
**2021**
**£**
10,764
134
912
65
31,652
43,527
**Hub**
**projects**
**2020**
**£**
20,347
1,767
750
5,567
99,320
127,751|**Other**
**projects**
**2021**
**£**
21,529
269
1,824
131
63,304
87,057
**Other**
**projects**
**2020**
**£**
30,530
575
244
1,815
32,363
65,527|**Total**
**funds**
**2021**
**£**
**89,703**
**1,119**
**7,601**
**544**
**263,768**
**362,735**
**Total**
**funds**
**2020**
**£**
183,143
8,270
3,512
26,065
464,981|
|---|---|---|---|
||||685,971|
Total expenditure on charitable activities for the year was £2,132,481 (2020 - £2,253,503) of which £1,848,136 was unrestricted (2020 - £2,070,568), £284,345 was restricted (2020 - £182,935) and £Nil (2020 - £Nil) related to endowed funds.
Support costs have been allocated across the charitable activities based on staff numbers across three key charitable activities as this is consistent with the use of resources.
Governance costs are centralised across the Group.
Regenda Limited charges the charity for a range of services including Governance as part of the intragroup charge.
This is included in expenditure on charitable activities.
Page 25
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **8. Auditor's remuneration**
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**4,950**|4,800|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**1,440**|2,250|
## **9. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2021**
**£**
**883,499**
**76,565**
**23,890**
**983,954**|**2020**
**£**
822,470
69,807
20,833|
|---|---|---|
||||
|||913,110|
The average number of persons employed by the Charity during the year was as follows:
|Accommodation services
HUB Projects
Other Projects
Management and administration|**2021**
**No.**
**21**
**4**
**8**
**3**
**36**|**2020**
**No.**
22
3
5
5|
|---|---|---|
||||
|||35|
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel of the charity comprise the trustees, the co-ordinator and the deputy coordinators. The total employee benefits of the key management personnel were £163,865 (2020 - £171,001).
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).
Page 26
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
|**11.**
**Intangible assets**
**Cost**
At 1 April 2020
At 31 March 2021
**Amortisation**
At 1 April 2020
Charge for the year
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Website**
**Development**
**£**
**9,871**|
|---|---|
||**9,871**|
||**2,653**
**2,468**|
||**5,121**|
||**4,750**|
||7,218|
Page 27
## **Petrus Community**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **12. Tangible fixed assets**
|**Leasehold**
**improvements**
**£**
**Cost or valuation**
At 1 April 2020
**375,619**
Additions
**-**
At 31 March 2021
**375,619**
**Depreciation**
At 1 April 2020
**109,051**
Charge for the year
**3,633**
At 31 March 2021
**112,684**
**Net book value**
At 31 March 2021
**262,935**
At 31 March 2020
266,568
**13.**
**Debtors**
**Due after more than one year**
Amounts owed by group undertakings
**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Fixtures,**
**fittings &**
**equipment**
**£**
**385,395**
**10,058**
**395,453**
**175,888**
**74,025**
**249,913**
**145,540**
209,507||**Computers**
**£**
**33,490**
**16,914**
**50,404**
**6,912**
**10,814**
**17,726**
**32,678**
26,578
**2021**
**£**
**-**
**-**
**176,927**
**-**
**445**
**26,137**
**203,509**|**Total**
**£**
**794,504**
**26,972**|
|---|---|---|---|---|
|||||**821,476**|
|||||**291,851**
**88,472**|
|||||**380,323**|
|||||**441,153**|
|||||502,653|
|||||**2020**
**£**
49,625
49,625
-
2,079
9,785
63,880
125,369|
Page 28
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **13. Debtors (continued)**
Amounts owed by group undertakings are interest free and repayable on demand.
Brought forward amounts owed by group undertakings related to amounts due from subsidiary undertaking, Petrus People CIC. These balances have been fully provided against during the year following the decision to cease the operations of Petrus People CIC.
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**2021**
**£**
**30,419**
**47,936**
**20,409**
**125,602**
**204,081**
**428,447**|**2020**
**£**
170,689
24,176
19,957
-
617|
|---|---|---|
||||
|||215,439|
Amounts owed to group undertakings are interest free and repayable on demand.
|Deferred income at 1 April 2020
Resources deferred during the year|**2021**
**£**
**617**
**22,473**
**23,090**|**2020**
**£**
-
617|
|---|---|---|
||||
|||617|
During the year, Petrus received Housing First Grant of £175,537 (2020: £100,372) which was awarded as part of an initiative to provide safe and secure homes to vulnerable people. The grant helps fund specialist posts within Petrus and conditions of the grant extend beyond the financial year which is when expenditure relating to the deferred income provision will be incurred.
Page 29
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **15. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**April 2020**
**£**
**Unrestricted funds**
**Designated funds**
Property repairs reserve
**264,534**
Various items to be funded
from reserves
**618,076**
Service Charges
**68,716**
Hub Exit Strategy
**90,714**
Store Working Capital Reserve
**50,000**
Careers academy
**-**
**1,092,040**
**General funds**
General Funds - all funds
**624,558**
**Total Unrestricted funds**
**1,716,598**
**Endowment funds**
Endowment Funds - all funds
**102,509**
**Restricted funds**
HUB - Women's Alliance
**8,176**
HUB - Gaddums
**-**
Project - Volunteering
**-**
Town Centre Initiative
**6,409**
Housing First
**8,815**
Housing First - Tenan
**-**
GMMC Emergency Response
**-**
Rochdale Fund for Relief in
Sickness
**-**
**23,400**
**Total of funds**
**1,842,507**|**Income**
**£**
**Expenditure**
**£**
**-**
**(4,277)**
**560**
**(101,360)**
**924,315**
**(965,882)**
**-**
**-**
**-**
**(114,000)**
**-**
**-**
**924,875**
**(1,185,519)**
**700,637**
**(662,617)**
**1,625,512**
**(1,848,136)**
**7,704**
**-**
**52,933**
**(43,556)**
**22,985**
**(21,107)**
**15,000**
**(15,000)**
**7,557**
**(29,170)**
**163,744**
**(157,719)**
**11,793**
**(11,793)**
**6,000**
**(6,000)**
**3,000**
**-**
**283,012**
**(284,345)**
**1,916,228**
**(2,132,481)**|**Transfers**
**in/out**
**£**
**-**
**(184,099)**
**20,000**
**-**
**64,000**
**139,310**
**39,211**
**(54,415)**
**(15,204)**
**-**
**-**
**-**
**-**
**15,204**
**-**
**-**
**-**
**-**
**15,204**
**-**|**Balance at**
**31 March**
**2021**
**£**
**260,257**
**333,177**
**47,149**
**90,714**
**-**
**139,310**|
|---|---|---|---|
||||**870,607**|
||||**608,163**|
||||**1,478,770**|
||||**110,213**|
||||**17,553**
**1,878**
**-**
**-**
**14,840**
**-**
**-**
**3,000**|
||||**37,271**|
||||**1,626,254**|
Page 30
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **15. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Property repairs reserve
Various items to be funded
from reserves
Staff Coaching
Tatton Park 2020
Service Charges
Hub Exit Strategy
Store Working Capital Reserve
**General funds**
Unrestricted - general
**Total Unrestricted funds**
**Endowment funds**
Endowment Fund
**Restricted funds**
HUB - Women's Alliance
HUB - Gaddums
PIER
PIER RGS
Project - Volunteering
Town Centre Initiative
Housing First
**Total of funds**|**Balance at**
**1 April 2019**
**£**
300,000
809,724
-
-
-
-
-
1,109,724
697,982
1,807,706
101,007
-
-
-
-
-
-
-
-
1,908,713|**Income**
**£**
**Expenditure**
**£**
-
-
-
(108,469)
60,000
(82,736)
20,000
(697)
806,210
(737,494)
-
-
-
-
886,210
(929,396)
1,099,547
(1,141,172)
1,985,757
(2,070,568)
1,502
-
43,289
(35,113)
22,985
(22,985)
180
(180)
3,500
(3,500)
19,066
(25,363)
10,647
(4,238)
100,371
(91,556)
200,038
(182,935)
2,187,297
(2,253,503)|**Transfers**
**in/out**
**£**
(35,466)
(83,179)
22,736
(19,303)
-
90,714
50,000
25,502
(31,799)
(6,297)
-
-
-
-
-
6,297
-
-
6,297
-|**Balance at**
**31 March**
**2020**
**£**
264,534
618,076
-
-
68,716
90,714
50,000|
|---|---|---|---|---|
|||||1,092,040|
|||||624,558|
|||||1,716,598|
|||||102,509|
|||||8,176
-
-
-
-
6,409
8,815|
|||||23,400|
|||||1,842,507|
Page 31
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **15. Statement of funds (continued)**
Unrestricted general funds
Funds which are available for use or retention at the discretion of the directors, in accordance with the trust’s objects.
Unrestricted designated funds
Trustees have chosen to redesignate a number of reserves during the year which support the growth and long term sustainability of the charity.
## **Restricted funds**
Town Centre Initiative
To help boost business and create a more vibrant town town centre in the Rochdale borough.
Housing First
Initiative to provide safe and secure homes to vulnerable people.
HUB - Women's Alliance
To provide support services to women offenders and those at risk of offending.
Big Lottery - Reaching communities
Helping to develop communities through person centred support designed to raise self-esteem, life skills, employability and social interaction.
## GMP - Bury Women's service
The objective is to work with female offenders to address their needs, to prevent them from re-offending and to divert them where possible away from the Criminal Justice System.
Big Lottery Help through Crisis
Crisis intervention support work based out of Petrus Hub, Rochdale.
## CGM Women’s Alliance
Provides a range of support services to women with the aim of helping exit the criminal justice system and to support them in rebuilding their lives.
Housing First - Tenants
Initiative to provide safe and secure homes to vulnerable people.
## GMMC Emergency Response
Government emergency support funding for charities to fund activities supporting people and communities affected by COVID-19.
## Rochdale Fund for Relief in Sickness
Rochdale Fund make charitable donations to charities who support people in need of relief in sickness and who live in the Rochdale Borough area.
## **Endowment fund**
The endowment fund principally comprises a legacy received in 2005. The trustees have the discretion to spend the capital (an expendable endowment), but their intention is to maintain the capital and use the investment income arising for the benefit of homeless people under the terms of the legacy.
Page 32
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2021**
## **16. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Tangible fixed assets
441,153
Intangible fixed assets
4,750
Debtors due after more than one year
49,625
Current assets
1,411,689
Creditors due within one year
(428,447)
**Total**
1,478,770|**Restricted**
**funds**
**2021**
**£**
-
-
-
37,271
-
37,271|**Endowment**
**funds**
**2021**
**£**
-
-
-
110,213
-
110,213|**Total**
**funds**
**2021**
**£**
**441,153**
**4,750**
**49,625**
**1,559,173**
**(428,447)**
**1,626,254**|
|---|---|---|---|
## **Analysis of net assets between funds - prior year**
|**Unrestricted**
**funds**
**2020**
**£**
Tangible fixed assets
502,653
Intangible fixed assets
7,218
Debtors due after more than one year
49,625
Current assets
1,372,541
Creditors due within one year
(215,439)
**Total**
1,716,598|**Restricted**
**funds**
**2020**
**£**
-
-
-
23,400
-
23,400|**Endowment**
**funds**
**2020**
**£**
-
-
-
102,509
-
102,509|**Total**
**funds**
**2020**
**£**
502,653
7,218
49,625
1,498,450
(215,439)
1,842,507|
|---|---|---|---|
## **17. Related party transactions**
The Charity is a wholly owned subsidiary of Rengenda Group and has taken advantage of the available exemption conferred by section 33.1A of FRS 102 not to disclose transactions with wholly owned group members.
Page 33
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2021**
## **18. Controlling party**
The Charity's immediate and ultimate parent company is Regenda Limited, a company incorporated in England and Wales with the registered office of The Foundry, 42 Henry Street, Liverpool, L1 SAY.
As at 31 March 2021 the largest and smallest group in which the results are consolidated is that headed by Regenda Limited. The consolidated accounts of the company are available to the public and may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 SAY. No other group accounts include the results of the charity.
Page 34