OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Registered number: 01523836 Charity number: 510904

Petrus Community

(A Company Limited by Guarantee) Trustees' Report and Financial Statements For the Year Ended 31 March 2023

Petrus Community (A Company Limited by Guarantee)

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 9
Statement of Trustees' Responsibilities 10
Independent Auditor's Report on the Financial Statements 15
Statement of Financial Activities (incorporating the Income and Expenditure 16
account)
Balance Sheet 17
Notes to the Financial Statements 18 - 42

Petrus Community (A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2023

Trustees P Roberts, Chair
Dr M R Birkett
R Gleave
J Wood (appointed 11 July 2022)
L Tasker
A Underdown (resigned 22 September 2022)
C Banton (resigned 22 September 2022)
Dr E Smith (resigned 22 September 2022)
P Culkin (resigned 22 September 2022)
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
NatWest
2 - 8 Church Street
Liverpool
L1 3BG
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 2023

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2022 to 31 March 2023. 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).

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.

Organisation

The Charity complies with the principal recommendations of the National Housing Federation’s of Governance 2020 and Code of Conduct 2022.

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, safeguarding 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 2023

Organisational Structure

Petrus Trustees 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.

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 aim of the charity is to undertake a broad range of work and activity which contributes to achieving our vision of ‘Together we will end homelessness and create safe places where all people can flourish’. As a communitybased organisation working to reduce homelessness and support vulnerable adults with complex needs, experiencing multiple disadvantage we are acutely aware of the impact of health, wellbeing and safe, secure housing on the outcomes of people in the boroughs within which we work. The importance of tackling barriers to good health and wellbeing to end homelessness is a key area of focus for the charity.

We work to offer a diverse range of frontline services to adults to relieve hardship and distress amongst homeless people and people in need. Our objectives of the year to work towards achieving our vision will be centred around providing PHP homeless relief and prevention, Town centre outreach support, Women offenders service, GM housing First, MEAM Changing Futures, Green social prescribing, youth social prescribing, health and wellbeing activity and quality supported accommodation.

A further focus of our work is to campaign and break down stigma within communities surrounding the causes and effects of homelessness and influence positive prejudicial and policy change.

Strategies and activities for achieving objectives

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.

Page 3

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Significant Activities

The needs of people experiencing homelessness in England has significantly increased during 2022/23. The govt. reported[1] :

Closer to home the Greater Manchester Combined Authority (GMCA) have updated their sub-regional homeless strategy to respond to this. They have introduced[2] :

Within each of the three towns that Petrus work in, our local authority and strategic partners face increased needs and challenges sustaining resilience and independence[3] :

In 2022 both Petrus and Regenda Homes were directly involved in national research with the National Housing Federation and Imogen Blood Associates to make the case for future supported housing[4] . The reports main findings support the view that despite the increasing needs, the type of supported housing Petrus provides still reduces homelessness and has a positive impact on health and wellbeing.

1Rough sleeping climbs 26% in a year, while more than 72,000 households face homelessness in three-month ’ - period as England s homelessness crisis deepens Shelter England

2Homelessness - Greater Manchester Combined Authority (greatermanchester-ca.gov.uk)

3Tables on homelessness - GOV.UK (www.gov.uk)

4National Housing Federation - Research into the supported housing sector’s impact on homelessness prevention, health and wellbeing

Alongside this increasing housing need, there have been several changes to the legislative and regulatory environment with implications for homeless charities providing supported housing, as well as wellbeing and crisis support.

These include:

Page 4

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Despite these consequential increases in significant financial, political, and social challenges facing the homeless charity sector since the pandemic, Petrus have continued to grow and strengthen the three main areas of our service model in 2022/23:

Housing support at Petrus

Petrus deliver supported housing across three local authority areas to 205 people at risk of homelessness in Rochdale (100 homes), Oldham (87 homes), and Burnley (18 homes). The number of people residing in supported housing increased from 187 in March 2022 to 205 in March 2023 (an additional 18 tenancies managed).

Wellbeing projects at Petrus

Wellbeing services are provided from the Petrus Hub in partnership with probation, social care, and in the community garden Petrus Incredible Edibles Rochdale (PIER) in partnership with GMCA, health and social care partners.

Probation support through our partnership with GMWSA (Greater Manchester Womens Support Alliance) has delivered a new training programme for the women who access this service to also access twelve half-day courses to improve employment options and wellbeing.

The Getting Help service funded by Gaddums delivers one-to-one and group setting wellbeing support at the Petrus Hub and a local supported housing service specifically for women.

Social prescribing continues to flourish within the community garden at Petrus PIER (Petrus Incredible Edibles Rochdale). The service continued to work with diverse people across the local area including young people, BAME, and socially excluded groups. The highlight for the project team and volunteers was another award at the prestigious RHS Tatton Garden Flower Show in July 2022.

Crisis support at Petrus

Crisis services were provided from the Petrus Hub, six days a week, and on key bank holidays providing advice and support with food, warmth, kindness, housing and benefits advice, access to a hot shower and health services (delivered in partnership with Rochdale Council and the Homeless Alliance Response Team (HART).

Other community-based crisis support services include Housing First (in partnership with GMHF – Greater Manchester Housing First and GMCA – Greater Manchester Combined Authority) and Town Centre Outreach (in partnership with Rochdale Council) are delivered across Rochdale, Bury and Bolton.

These community-based services work with rough sleepers and people street begging in places where they are, and feel most able to engage, to offer more effective case management.

Page 5

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Petrus has again been supported throughout the year with fundraising, donations and partnership support from kind-hearted people, communities, organisations, and groups, including:

Page 6

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Crisis support at Petrus (continued)

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.

Review of the transactions and financial position of the charity

The Charity‘s Statement of Financial Activities shows net expenditure for the year 2022/23 of £513,970 (2022 - £323,216).

At 31 March 2023, the Charity had restricted funds of £97,841 (2022 - £89,157), designated funds of £579,801 (2022 - £1,103,558) and endowment funds of £111,426 (2022 - 110,323).

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.

Page 7

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

Financial review

Going concern

The Company's latest Business Plan including sensitivity analysis and stress testing, approved May 2023, 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 inflation and the challenging economic environment 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. 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.

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 £459k (2022 - £564k) to meet the planned expenditure detailed in note 16 to the accounts.

The directors consider that, additionally, at least six 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.

Page 8

Petrus Community (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 March 2023

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:

Approved by order of the members of the board of Trustees on 13 September 2023 and signed on their behalf by:

Mr P A Roberts

Chair

Page 9

Petrus Community (A Company Limited by Guarantee)

Statement of Trustees' Responsibilities For the Year Ended 31 March 2023

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial 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:

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 10

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:

We have audited the financial statements of Petrus Community (“the Charitable Company) for the year ended 31 March 2023 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 11

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:

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;

Page 12

Petrus Community (A Company Limited by Guarantee)

Independent Auditor's report to the members of Petrus Community (continued)

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.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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:

Non-compliance with laws and regulations

Based on:

we considered the significant laws and regulations to be FRS102 and UK Law & Tax Legislation.

The entity is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be health and safety legislation etc.

Our procedures in respect of the above included:

Page 13

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 (continued)

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

Based on our risk assessment, we considered the areas most susceptible to fraud to be management’s incentives and opportunities for fraudulent manipulation in relation to posting inappropriate journal entries to revenue as well as timing of the recognition of other income items.

Our procedures in respect of the above included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Page 14

Petrus Community (A Company Limited by Guarantee)

Independent Auditor's report to the members of Petrus Community (continued)

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, UK

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Page 15

Petrus Community (A Company Limited by Guarantee)

Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2023

Note
Income and
endowments from:
Donations
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
15		 Unrestricted
funds
2023
£
31,982
3,483,739
8,018
3,523,739
4,041,074
4,041,074
(517,335)
(6,422)
(523,757)
1,103,558
(523,757)
579,801		 Restricted
funds
2023
£
13,900
543,696
-
557,596
555,334
555,334
2,262
6,422
8,684
89,157
8,684
97,841		 Endowment
funds
2023
£
-
-
1,103
1,103
-
-
1,103
-
1,103
110,323
1,103
111,426		 Total
funds
2023
£
45,882
4,027,435
9,121
4,082,438
4,596,408
4,596,408
(513,970)
-
(513,970)
1,303,038
(513,970)
789,068		 Total
funds
2022
£
48,485
3,113,692
396
3,162,573
3,485,789
3,485,789
(323,216)
-
(323,216)
1,626,254
(323,216)
1,303,038

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 42 form part of these financial statements.

Page 16

Petrus Community (A Company Limited by Guarantee)

Registered number: 01523836

Balance Sheet As at 31 March 2023

Note
Fixed assets
Intangible assets
11
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
14
Net current assets
Net assets
16
Charity funds
Endowment funds
15
Restricted funds
15
Unrestricted funds
15
Total funds		 2023
£
390,225
847,002
1,237,227
(745,173)		 2023
£
-
297,014
297,014
492,054
789,068
111,426
97,841
579,801
789,068		 2022
£
392,196
1,174,162
1,566,358
(635,087)		 2022
£
2,283
369,484
371,767
931,271
1,303,038
110,323
89,157
1,103,558
1,303,038

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 13 September 2023 and signed on their behalf by:

Mr P A Roberts

Chair

The notes on pages 18 to 42 form part of these financial statements.

Page 17

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

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), 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 financial statements are prepared in GBP and rounded to the nearest £.

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".

This information is included in the consolidated financial statements of Regenda Group as at 31 March 2023 and these financial statements may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 SAY.

Page 18

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.3 Going concern

The Company's latest Business Plan including sensitivity analysis and stress testing, approved May 2023, 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 inflation and the challenging economic environment 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. 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.

2.4 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.

2.5 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 19

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.6 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 %

2.7 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 (incorporating the Income and Expenditure account).

2.8 Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 20

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

2. Accounting policies (continued)

2.9 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.

2.10 Creditors

Short term trade creditors are measured at the transaction price.

2.11 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.

2.12 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.

2.13 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.

2.14 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.

2.15 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.

Page 21

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

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:

4. Income from donations

Unrestricted
funds
2023
£
Donations
31,982
Unrestricted
funds
2022
£
Donations
39,224		 Restricted
funds
2023
£
13,900
Restricted
funds
2022
£
9,261		 Total
funds
2023
£
45,882
Total
funds
2022
£
48,485

Page 22

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

5. Income from charitable activities

Unrestricted
funds
2023
£
Rents
2,881,845
Changing futures
-
RMBC Mental Health Grants
368,628
Stockport Women's Service
-
CGM - Womens Alliance
-
Volunteer Development
-
Town Centre Initiative
-
Housing First
-
Other Grants
11,850
Rochdale Homelessness Prevention Service
221,416
Thriving Communities
-
Social prescribing
-
Young Person Social Prescribing
-
GMEF
-
Total 2023
3,483,739		 Restricted
funds
2023
£
-
80,319
-
70,886
24,551
15,000
33,275
188,431
500
-
5,000
49,842
56,142
19,750
543,696		 Total
funds
2023
£
2,881,845
80,319
368,628
70,886
24,551
15,000
33,275
188,431
12,350
221,416
5,000
49,842
56,142
19,750
4,027,435

Page 23

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

5. Income from charitable activities (continued)

Unrestricted
funds
2022
£
Rents
2,397,768
Service level agreements
-
RMBC Mental Health Grants
11,382
RMBC Crisis Response Team Grants
-
Other RMBC Grants
-
Stockport Women's Service
-
CGM - Women's Alliance
-
Big Lottery Help Through Crisis
-
Town Centre Initiative
-
Housing First
-
Other Grants
-
Rochdale Homelessness Prevention Service
220,533
Total 2022
2,629,683		 Restricted
funds
2022
£
-
35,000
-
65,400
69,375
43,837
23,631
19,429
31,295
189,028
7,014
-
484,009		 Total
funds
2022
£
2,397,768
35,000
11,382
65,400
69,375
43,837
23,631
19,429
31,295
189,028
7,014
220,533
3,113,692

6. Investment income

Unrestricted
funds
2023
£
Bank interest
8,018
Unrestricted
funds
2022
£
Bank interest
286		 Endowment
funds
2023
£
1,103
Endowment
funds
2022
£
110		 Total
funds
2023
£
9,121
Total
funds
2022
£
396

Page 24

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

7. Analysis of expenditure on charitable activities

Accommodation provision
Hub projects
Other projects
Total 2023		 Activities
undertaken
directly
2023
£
2,788,447
310,816
532,411
3,631,674		 Support
costs
2023
£
588,488
96,473
279,773
964,734		 Total
funds
2023
£
3,376,935
407,289
812,184
4,596,408
Accommodation provision
Hub projects
Other projects
Total 2022		 Activities
undertaken
directly
2022
£
1,934,034
276,156
491,142
2,701,332		 Support
costs
2022
£
439,296
86,291
258,870
784,457		 Total
funds
2022
£
2,373,330
362,447
750,012
3,485,789

Page 25

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

7. Analysis of expenditure on charitable activities (continued)

Analysis of direct costs

Accommodation
provision
2023
£
Staff costs
927,906
Agency staff & recruitment
144,157
Premises
1,655,529
Food & household
25,585
Residential participation
2,743
Depreciation
26,448
Other direct costs
6,079
Total 2023
2,788,447
Accommodation
provision
2022
£
Staff costs
575,457
Agency staff & recruitment
172,020
Premises
1,137,768
Food & household
20,856
Residential participation
443
Depreciation
25,014
Other direct costs
2,476
Total 2022
1,934,034		 Hub
projects
2023
£
181,645
5,169
31,938
5,701
-
54,736
31,627
310,816
Hub
projects
2022
£
166,674
21,085
24,739
3,861
-
54,736
5,061
276,156		 Other
projects
2023
£
388,494
11,589
7,243
-
-
22,173
102,912
532,411
Other
projects
2022
£
284,204
16,618
7,380
-
-
16,232
166,708
491,142		 Total
funds
2023
£
1,498,045
160,915
1,694,710
31,286
2,743
103,357
140,618
3,631,674
Total
funds
2022
£
1,026,335
209,723
1,169,887
24,717
443
95,982
174,245
2,701,332

Page 26

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

7. Analysis of expenditure on charitable activities (continued)

Analysis of support costs

Staff costs
Agency staff & recruitment
Audit fees
Legal, professional & consultancy
Other support costs
Total 2023
Staff costs
Agency staff & recruitment
Audit fees
Legal, professional & consultancy
Other support costs
Total 2022		 Accommodation
provision
2023
£
62,237
799
5,898
4,625
514,929
588,488
Accommodation
provision
2022
£
56,035
667
1,664
3,557
377,373
439,296		 Hub
projects
2023
£
10,202
131
967
758
84,415
96,473
Hub
projects
2022
£
11,007
131
327
699
74,127
86,291		 Other
projects
2023
£
29,588
380
2,804
2,199
244,802
279,773
Other
projects
2022
£
33,021
393
980
2,096
222,380
258,870		 Total
funds
2023
£
102,027
1,310
9,669
7,582
844,146
964,734
Total
funds
2022
£
100,063
1,191
2,971
6,352
673,880
784,457

Total expenditure on charitable activities for the year was £4,596,408 (2022 - £3,485,789) of which £4,041,074 was unrestricted (2022 - £3,040,124), £555,334 was restricted (2022 - £445,665) and £Nil (2022 - £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 27

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

8. Auditor's remuneration

2023 2022
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 9,668 6,240
Fees payable to the Charity's auditor in respect of:
All assurance services not included above - 1,800

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
1,411,533
124,081
64,458
1,600,072		 2022
£
1,003,446
84,506
38,446
1,126,398

The average number of persons employed by the Charity during the year was as follows:

Accommodation services
HUB Projects
Other Projects
Management and administration		 2023
No.
35
6
16
3
60		 2022
No.
22
4
13
4
43

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel of the charity comprise the Head of Petrus (Sonia Denham) and the Service Leads (Liz Valley, Karen Tyner and Toni Baker). The total employee benefits of the key management personnel were £218,978 (2022 - £169,016).

No (2022 - 1) member of staff was paid a redundancy payments (2022 - £926) of which £Nil (2022 - £Nil) was outstanding at year end.

Page 28

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

10.
Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £Nil).
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022
11.
Intangible assets
Cost
At 1 April 2022
At 31 March 2023
Amortisation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 - £Nil).
Website
Development
£
9,871
9,871
7,588
2,283
9,871
-
2,283

Page 29

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

12. Tangible fixed assets

Cost or valuation
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Debtors
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Leasehold
improvements
£
375,619
-
375,619
131,465
18,781
150,246
225,373
244,154		 Fixtures, fittings
& equipment
£
244,069
3,911
247,980
153,092
61,361
214,453
33,527
90,977		 Computers
£
65,771
23,652
89,423
31,418
19,891
51,309
38,114
34,353
2023
£
210,824
115,539
2,283
61,579
390,225		 Total
£
685,459
27,563
713,022
315,975
100,033
416,008
297,014
369,484
2022
£
363,580
-
74
28,542
392,196

13. Debtors

Amounts owed by group undertakings are interest free and repayable on demand.

The bad debt charge in the year was £661,854 (2022 - £447,870).

Page 30

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

14. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other creditors
Accruals and deferred income		 2023
£
333,351
145,090
11,328
255,404
745,173		 2022
£
216,637
142,133
9,752
266,565
635,087

Amounts owed to group undertakings are interest free and repayable on demand.

Deferred income at 1 April 2022
Resources deferred during the year
Amounts released to the SoFA		 2023
£
123,379
73,756
(123,521)
73,614		 2022
£
23,090
123,521
(23,232)
123,379

During the year, Petrus received Housing First Grant of £188,431 (2022 - £189,028) 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 31

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Statement of funds - current year

Unrestricted funds
Designated funds
Property repairs reserve
Various items to be funded from reserves
Service Charges
Hub Exit Strategy
Fundraiser
Careers academy
General ICT		 Balance at 1 April 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Balance at 31 March 2023
£
255,068
-
(7,666)
-
247,402
138,922
-
(100,602)
24,615
62,935
76,719
-
(18,781)
-
57,938
90,714
-
-
-
90,714
-
-
(5,608)
5,608
-
2,587
-
(18,925)
16,338
-
-
-
(22,173)
22,173
-
564,010
-
(173,755)
68,734
458,989

Page 32

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15.
Statement of funds (continued)
General funds
General Funds - all funds
Total Unrestricted funds
Endowment funds
Endowment Funds - all funds		 Balance at 1 April 2022
£
539,548
1,103,558
110,323		 Income
£
3,523,739
3,523,739
1,103		 Expenditure
£
(3,867,319)
(4,041,074)
-		 Transfers in/out
£
(75,156)
(6,422)
-		 Balance at 31 March 2023
£
120,812
579,801
111,426

Page 33

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Statement of funds (continued)

Restricted funds
Thriving Communities
NASP matched funding
Young Person Social Prescribing
Changing Futures / MEAM
Tatton
Action Together
HUB - Women's Alliance
HUB - Gaddums
PIER - GMCA
GMEF - Environmental Fund
Project - Volunteering
Town Centre Initiative
Housing First
Housing First - Tenants
Housing First - Peer Activity
MSV Kindness Fund
Total of funds		 Balance at 1 April 2022
£
4,210
19,870
11,074
17,115
-
-
16,588
3,019
17,161
-
-
120
-
-
-
-
89,157
1,303,038		 Income
£
5,000
-
56,142
80,319
13,090
810
70,886
24,551
49,842
19,750
15,000
33,275
181,076
2,355
5,000
500
557,596
4,082,438		 Expenditure
£
(29,079)
-
(56,276)
(77,789)
(17,398)
(250)
(62,976)
(20,320)
(57,950)
-
(16,104)
(35,509)
(181,076)
(107)
-
(500)
(555,334)
(4,596,408)		 Transfers in/out
£
19,870
(19,870)
-
-
4,308
-
-
(1,104)
-
-
1,104
2,114
-
-
-
-
6,422
-		 Balance at 31 March 2023
£
1
-
10,940
19,645
-
560
24,498
6,146
9,053
19,750
-
-
-
2,248
5,000
-
97,841
789,068

Page 34

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Fixed asset - leasehold improvement
Various items to be funded from reserves
Service Charges
Hub Exit Strategy
Careers academy		 Balance at 1 April 2021
£
Income
£
Expenditure
£
Transfers in/out
£
Balance at 31 March 2022
£
260,257
-
(5,189)
-
255,068
333,177
5,350
(92,696)
(106,909)
138,922
47,149
1,682,961
(1,653,391)
-
76,719
90,714
-
-
-
90,714
139,310
-
(136,723)
-
2,587
870,607
1,688,311
(1,887,999)
(106,909)
564,010

Page 35

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15.
Statement of funds (continued)
General funds
General Funds - all funds
Total Unrestricted funds
Endowment funds
Endowment Funds - all funds		 Balance at 1 April 2021
£
608,163
1,478,770
110,213		 Income
£
980,882
2,669,193
110		 Expenditure
£
(1,152,125)
(3,040,124)
-		 Transfers in/out
£
102,628
(4,281)
-		 Balance at 31 March 2022
£
539,548
1,103,558
110,323

Page 36

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Statement of funds (continued)

Balance at 1 April 2021 Income Expenditure Expenditure Transfers in/out Transfers in/out Balance at 31 March 2022
£ £ £ £ £
Restricted funds
Rochdale Homeless Network - 7,014 (7,014) - -
Thriving Communities - 45,400 (41,190) - 4,210
NASP matched funding - 20,000 (130) - 19,870
Young Person Social Prescribing - 24,493 (13,419) - 11,074
Changing Futures / MEAM - 35,000 (17,885) - 17,115
Tatton - 9,261 (15,347) 6,086 -
HUB - Women's Alliance 17,553 43,837 (44,802) - 16,588
HUB - Gaddums 1,878 23,631 (22,490) - 3,019
PIER - GMCA - 44,882 (27,721) - 17,161
Project - Volunteering - 19,429 (16,694) (2,735) -
Town Centre Initiative - 31,295 (32,105) 930 120
Housing First 14,840 184,876 (199,716) - -
Housing First - Crisis Fund - 4,152 (4,152) - -
Rochdale Fund for Relief in Sickness 3,000 - (3,000) - -
37,271 493,270 (445,665) 4,281 89,157
Total of funds 1,626,254 3,162,573 (3,485,789) - 1,303,038

Page 37

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. 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.

HUB - Gaddums

To provide 1:1 support to clients with complex need to enable them to access mainstream services.

Project - Volunteering

Training and development of volunteers.

Page 38

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Funds (continued)

Thriving Communities

The funds will be used to support the active delivery of the social prescribing programme in particular sessional delivery costs and taster sessions provided by local VCSE groups to increase access and awareness of social prescribing in Rochdale. These would fall into the categories of sports and leisure, finance and advice, nature and environment and arts and culture. All activities that will be provided are based on consultation with clients who would access the service who have been disproportionately impacted by Covid to support health and wellbeing.

NASP matched funding

Networking building partnerships, link working with GM partners and Network. Promotional activity in surgery, wider community, working across all lead venues delivering coproduced sessional activity. This is match funding for Thriving Communities and during the year a transfer was made to combine the funds.

PIER - GMCA

Networking building partnerships, link working with GM partners and Network. Promotional activity in surgery, wider community, working across all lead venues delivering coproduced sessional activity.

Young Person Social Prescribing

Recruitment of Young Person's Link Worker and delivery of social prescribing service with and for young people at Hopwood Hall College in Rochdale over the college’s two sites. Includes support for activity delivery with local organisations. This is a universal intervention for young people in years 12 and 13 and young adult learners.

Changing Futures / MEAM

2x MEAM worker posts, Individual level – Lasting change and improved outcomes for adults experiencing multiple disadvantage

Tatton

Garden competition

Housing First - Tenants

Initiative to provide safe and secure homes to vulnerable people.

Page 39

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

15. Statement of funds (continued)

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.

MSV Kindness Fund

A fund applied for by staff and service users at Howcroft House. The fund is eligible for neighbourhoods and community groups to enhance their environment for wellbeing. The staff and service users used this fund to transform their garden and learn growing skills to enable them to grow their own food.

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.

Action Together

Funding received to host a volunteer celebration event. The event thanked and celebrated the volunteers for their commitment to Petrus and highlighted the impact their time has on the community. This was also a ‘graduation’ celebration for the service users having completed Project 5, a training programme delivered in partnership with TLF.

Housing First - Peer Activity

Housing First is delivered in partnership across Greater Manchester. Petrus, along with other partner agencies have delivery responsibility for Bury, Bolton and Rochdale and zone lead responsibility for these areas. Housing First is a model of delivery prioritising access to good quality affordable housing with permanent, wrap around support emphasising choice and control sitting with the service user rather than service provider

GMEF - Environmental Fund

Partially funding social prescribing activity for wellbeing at PIER, local medical surgeries and supported accommodation.

Page 40

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
297,014
Current assets
1,027,960
Creditors due within one year
(745,173)
Total
579,801		 Restricted
funds
2023
£
-
97,841
-
97,841		 Endowment
funds
2023
£
-
111,426
-
111,426		 Total
funds
2023
£
297,014
1,237,227
(745,173)
789,068

Analysis of net assets between funds - prior year

Unrestricted
funds
2022
£
Tangible fixed assets
369,484
Intangible fixed assets
2,283
Current assets
1,366,878
Creditors due within one year
(635,087)
Total
1,103,558		 Restricted
funds
2022
£
-
-
89,157
-
89,157		 Endowment
funds
2022
£
-
-
110,323
-
110,323		 Total
funds
2022
£
369,484
2,283
1,566,358
(635,087)
1,303,038

17. Related party transactions

Regenda Limited, the parent company, had intercompany charges of £549,841 (2022 - £431,461) to Petrus Community.

M&Y (Regenda Partnership) Limited, a company under common control, had intercompany charges of £94,088 (2022 - £85,918) to Petrus Community.

Amount owed by group undertakings at year end was £115,539 (2022, £nil). Amount owed to group undertakings at year end was (£145,090) (2022, (£142,133).

Page 41

Petrus Community (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2023

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 2023 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 42