**Registered number: 01523836 Charity number: 510904**
## **Petrus Community**
(A Company Limited by Guarantee) Trustees' Report and Financial Statements For the Year Ended 31 March 2024
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Contents**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 10|
|**Statement of Trustees' Responsibilities**|11|
|**Independent Auditor's Report on the Financial Statements**|12 - 16|
|**Statement of Financial Activities (incorporating the Income and Expenditure**|17|
|**account)**||
|**Balance Sheet**|18|
|**Notes to the Financial Statements**|19 - 42|
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2024**
|**Trustees**|Dr M R Birkett|
|---|---|
||R Gleave|
||J Wood|
||L Dixon|
||S Stubbs|
|**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 - Petrus Charity Director
**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||
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report For the Year Ended 31 March 2024**
The Trustees present their annual report together with the audited financial statements of the Charity for the year 31 March 2023 to 31 March 2024. 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).
## **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. The Charity is a member of the Regenda Group.
## **Organisation**
The Charity complies with the principal recommendations of the National Housing Federation’s Code 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 Petrus Charity Director, 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 Petrus Charity Director 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'.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 March 2024**
## **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.
## _Organisational Structure_
The Trustees, who are also the directors for the purpose of company law, who served during the year and since the year end were:
Dr M R Birkett R Gleave J Wood L Dixon (appointed 21 March 2024) S Stubbs (appointed 21 March 2024)
## **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.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2024**
## **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.
## **Public benefit**
The charity is considered a public benefit entity and has had regard to the Charity Commission's guidance on public benefit.
## **Significant Activities**
The needs of people experiencing homelessness in England has significantly increased during 2023/24. The govt. reported:
- A 26% increase (now at 3,069 adults in November 2022) from the 2021 rough sleeper count; and represents a 74% increase of since 2010.
- A 4% increase in homeless households (now at 72,320 households) from last year, and an 8% increase in homeless households with children (now at 25,570).
Closer to home the Greater Manchester Combined Authority (GMCA) have updated their sub-regional homeless strategy to respond to this. They have introduced:
- A Bed Every Night rapid housing projects.
- Greater Manchester Housing First (which Petrus and Regenda Homes are strategic leads for).
- The Greater Manchester Mayor’s Charity.
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:
- 28% increase in Rochdale and 50% increase in Burnley for people owed a homeless duty, which increased from 356 to 455 in Rochdale and from 127 to 190 in Burnley between September 2021 to 2022.
- 188% increase in Oldham for people whose last settled tenancy was in a private rented tenancy, which increased from 16 to 46 between September 2021 and 2022.
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. 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.
1. Rough 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
2. Homelessness - Greater Manchester Combined Authority (greatermanchester-ca.gov.uk)
3. Tables on homelessness - GOV.UK (www.gov.uk)
4. National Housing Federation - Research into the supported housing sector’s impact on homelessness prevention, health and wellbeing
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 March 2024**
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:
- Homelessness Act (2022) and Homeless Reduction Act (2017) both widening the local authority’s duty to rehouse its people.
- Health and Care Act (2022) strengthening the link between health and social care in the community and Integrated Care Partnerships.
- Housing benefit guidance for supported housing claims (2022) and Supported housing: national statement of expectations (2020) both clarifying expectations of transparency and partnership.
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 2023/24:
- **Housing support** . Providing housing and support to 200+ people at risk of homelessness.
- **Wellbeing support** . Providing wellbeing services to 2000+ people to improve their mental, employment, financial, and physical health and reduce the risk of homelessness.
- **Crisis support** . Providing crisis services to 10,000+ people offering food, clothing, health advice, washing facilities, and housing advice to provide responsive direct help and support to people sleeping rough or at significant risk of homelessness.
## **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 2023.
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# **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2024**
## **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.
Petrus has again been supported throughout the year with fundraising, donations and partnership support from kind-hearted people, communities, organisations, and groups, including:
- Rochdale Council
- Oldham Council
- Bolton Council
- Bury Council
- Greater Manchester Combined Authority (GMCA)
- Greater Manchester Chamber of Commerce
- Greater Manchester Womens Support Alliance (GMWSA)
- Greater Manchester Homeless Action Network
- Rotary Club of Rochdale
- Onward Homes
- Mosscare St Vincent’s
- Rochdale Health Alliance
- Rochdale Safer Communities Partnership
- Homeless Alliance Response Team (HART)
- NHS Heywood Middleton Rochdale CCG
- Rochdale Boroughwide Housing (RBH)
- Citizens UK
- Brass Knuckle Riders
- MIND
- Springhill Hospice
- Pennine Care NHS Foundation Trust
- Falinge Park High School
- Greggs
- Mike Garry – Poet
- Kirkholt Medical Centre
- Morrisons Supermarket Rochdale
- Abbott Community Primary School
- Kashmiri Youth Project (KYP) Rochdale
- Royal Horticultural Society (RHS)
- Cosalea Café - Brandlesholme
- The Regenda Group
- Regenda Home
- The Learning Foundry
- M&Y Maintenance and Construction
- NCRC and Trafford Hall
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## **Petrus Community (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 March 2024**
- Positive Footprints
- PDS The UK Specialist Doorset Company
- Amazon
- Specialised York Stone Supplies (Ltd)
- Dunne’s and Dusted
- Evergreen Landscapes
- Happy Days Cycles CIC
- Housing First England
- The Bond Board
- Early Break
- Great Places Group
- Cracking Good Food
- BBC Radio Manchester
- Rochdale in Bloom
- National Citizen Service (NCS)
- Wonderful Life Academy
- Hopwood Hall College
- University of Manchester
- Groundwork
- Soopa Doopa
- Hollingworth Academy
- Holy Family RC Primary School
- Blue Coat Sixth Form
- Two Brew Kitchen
- Dunelm
- Cryers Butchers Limited
- Music in Mind
- Endeavour Project
- Marshalls Gardens and Driveways
- Falinge Road High School
## **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.
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## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2024**
## **Review of the transactions and financial position of the charity**
The Charity‘s Statement of Financial Activities shows net income for the year 2023/24 of £7,185 (2023 - expenditure of £513,970).
At 31 March 2024, the Charity had restricted funds of £41,736 (2023 - £97,841), designated funds of £639,748 (2023 - £579,801) and endowment funds of £114,769 (2023 - £111,426).
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**
## **Fundraising**
In 2023/24 Petrus employed 1 FTE fundraising officer to develop fundraising activities that would generate restricted and unrestricted funds through charitable donations, sponsorship, trusts and foundations and hosting events. Petrus have also developed a business growth team with staff across the organisation supporting with grant applications. In the 12 month period up to March 2024 £96050 of income through donations was generated of which £65,749 was unrestricted and £30,301 restricted funds.
## **Volunteers**
In 2023/24, 197 people supported Petrus activities at the Petrus Hub and Petrus PIER through voluntary activity. 15 were engaged in regular volunteering throughout the year. This has included the breakfast service, wellbeing groups, the PIER community garden and RHS Tatton Park Flower Show. Petrus are not reliant on volunteers to operate contracted services however volunteers make a valuable contribution to our services which enables Petrus which increase the capacity of its wellbeing services.
## **Going concern**
The Company's latest Business Plan including sensitivity analysis and stress testing, approved May 2024, 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.
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## **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2024**
## **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 £412k (2023 - £459k) 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.
## **Qualifying third party indemnity provisions**
Qualifying third-party indemnity provisions have been in place during the year.
## **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.
## **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.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
# **Petrus Community (A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Year Ended 31 March 2024**
## **Auditor**
BDO LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Approved by order of the members of the board of Trustees on 18 September 2024 and signed on their behalf by:
Signer ID: WYRW7UUTKM...
**J Wood** Chair
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Statement of Trustees' Responsibilities For the Year Ended 31 March 2024**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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.
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## **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 2024 and of 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 2024 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**
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.
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## **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. 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 themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **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 are 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 Strategic report or the Trustees’ 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.
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## **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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.
## **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:
## _Non-compliance with laws and regulations_
## Based on:
- Our understanding of the Charitable Company and the sector in which it operates;
- Discussion with management and those charged with governance; and
- Obtaining and understanding of the Charitable Company’s policies and procedures regarding compliance with laws and regulations.
We considered the significant laws and regulations to be FRS 102 and UK Law & Tax Legislation.
The Charitable Company 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 the health and safety legislation.
Our procedures in respect of the above included:
- Review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
- Review of financial statement disclosures and agreeing to supporting documentation; and
- Review of legal expenditure accounts to understand the nature of expenditure incurred.
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## **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:
- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- Obtaining an understanding of the Charitable Company’s policies and procedures relating to:
- Detecting and responding to the risks of fraud; and
- Internal controls established to mitigate risks related to fraud.
- Review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;
- Discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls and timing of the recognition of income items.
Our procedures in respect of the above included:
- Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;
- Assessing significant estimates made by management for bias; and
- Selecting a sample of income around the year end and assessing whether the income has been recognised in the correct period.
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 15
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **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** 829727ECC12041D... (Senior Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Liverpool, UK
Date: 18 September 2024
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
Page 16
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2024**
|**Note**
**Income and**
**endowments from:**
Donations
4
Charitable activities
5
Investments
6
Other income
7
**Total income and**
**endowments**
**Expenditure on:**
Charitable activities
8
**Total expenditure**
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
16
Net movement in funds
16
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**2024**
**£**
**65,749**
**3,389,907**
**21,120**
**5,220**
**3,481,996**
**3,422,049**
**3,422,049**
**59,947**
**579,801**
**59,947**
**639,748**|**Restricted**
**funds**
**2024**
**£**
**30,301**
**520,750**
**-**
**-**
**551,051**
**607,156**
**607,156**
**(56,105)**
**97,841**
**(56,105)**
**41,736**|**Endowment**
**funds**
**2024**
**£**
**-**
**-**
**3,343**
**-**
**3,343**
**-**
**-**
**3,343**
**111,426**
**3,343**
**114,769**|**Total**
**funds**
**2024**
**£**
**96,050**
**3,910,657**
**24,463**
**5,220**
**4,036,390**
**4,029,205**
**4,029,205**
**7,185**
**789,068**
**7,185**
**796,253**|**As restated**
**Total**
**funds**
**2023**
**£**
45,882
3,468,123
9,121
-
3,523,126
4,037,096
4,037,096
(513,970)
1,303,038
(513,970)
789,068|
|---|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
See note 17 for the prior year restatement.
The notes on pages 19 to 42 form part of these financial statements.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee) Registered number: 01523836**
**Balance Sheet As at 31 March 2024**
||||**2024**|**2024**||**2023**|
|---|---|---|---|---|---|---|
||**Note**||**£**|||**£**|
|**Fixed assets**|||||||
|Tangible assets|13||**473,353**|||297,014|
|**Current assets**|||||||
|Debtors|14|**273,936**|||390,225||
|Cash at bank and in hand||**962,994**|||847,002||
|||**1,236,930**|||1,237,227||
|**Current liabilities**|||||||
|Creditors: amounts falling due within one|||||||
|year|15|**(914,030)**|||(745,173)||
|**Net current assets**|||**322,900**|||492,054|
|**Net assets**|||**796,253**|||789,068|
|**Charity funds**|||||||
|Endowment funds|16||**114,769**|||111,426|
|Restricted funds|16||**41,736**|||97,841|
|Unrestricted funds|16||**639,748**|||579,801|
|**Total funds**|||**796,253**|||789,068|
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 18 September 2024 and signed on their behalf by:
J Wood Chair
Signer ID: WYRW7UUTKM...
The notes on pages 19 to 42 form part of these financial statements.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2024**
## **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".
- 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 2024 and these financial statements may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 5AY.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2024**
## **2. Accounting policies (continued)**
## **2.3 Going concern**
The Company's latest Business Plan including sensitivity analysis and stress testing, approved May 2024, 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.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2024**
## **2. Accounting policies (continued)**
## **2.6 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).
## **2.7 Debtors**
Short term debtors are measured at transaction price, less any impairment.
## **2.8 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.
## **2.9 Creditors**
Short term trade creditors are measured at the transaction price.
## **2.10 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.
## **2.11 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.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 March 2024**
## **2. Accounting policies (continued)**
## **2.12 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.
## **2.13 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.
## **2.14 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.
## **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.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **4. Income from donations**
|**Unrestricted**
**funds**
**2024**
**£**
Corporate donations
27,796
Events
20,734
Individuals
9,023
Trusts & foundations
7,000
Gift aid
1,196
**Total 2024**
65,749
**Unrestricted**
**funds**
**2023**
**£**
Donations
31,982|**Restricted**
**funds**
**2024**
**£**
27,609
600
2,092
-
-
30,301
**Restricted**
**funds**
**2023**
**£**
13,900|**Total**
**funds**
**2024**
**£**
**55,405**
**21,334**
**11,115**
**7,000**
**1,196**
**96,050**|
|---|---|---|
|||**Total**
**funds**
**2023**
**£**
45,882|
Page 23
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **5. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Rents, service charges and management fees
2,807,413
Short Term Accommodation - Commissioned Service
370,680
Rochdale Homelessness Prevention Service
211,814
GMWSA
-
Gaddums
-
Innovation Fund
-
Town Centre Outreach
-
Housing First
-
Social Prescribing
-
Changing Futures
-
GMEF
-
Other Grant
-
Young People Social Prescribing
-
Horticulture Health Programme
-
Hospital Discharge
-
**Total 2024**
3,389,907|**Restricted**
**funds**
**2024**
**£**
-
-
-
66,905
24,588
23,604
27,215
237,461
100
49,219
19,750
5,000
35,105
17,000
14,803
520,750|**Total**
**funds**
**2024**
**£**
**2,807,413**
**370,680**
**211,814**
**66,905**
**24,588**
**23,604**
**27,215**
**237,461**
**100**
**49,219**
**19,750**
**5,000**
**35,105**
**17,000**
**14,803**
**3,910,657**|
|---|---|---|
Rents, service charges and management fees’ line in the table is predominately made up of service charges.
Page 24
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **5. Income from charitable activities (continued)**
|**As restated**
**Unrestricted**
**funds**
**2023**
**£**
Rents, service charges and management fees
2,322,533
Service level agreements
-
RMBC Mental Health Grants
368,628
Stockport Women's Service
-
CGM - Women's 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 as restated**
2,924,427|**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|**As restated**
**Total**
**funds**
**2023**
**£**
2,322,533
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
3,468,123|
|---|---|---|
Rents, service charges and management fees’ line in the table is predominately made up of service charges.
See note 17 for the prior year restatement.
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Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **6. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Bank interest
21,120
**Unrestricted**
**funds**
**2023**
**£**
Bank interest
8,018
**7.**
**Other incoming resources**
Other income
There was no other income in the prior year.|**Endowment**
**funds**
**2024**
**£**
3,343
**Endowment**
**funds**
**2023**
**£**
1,103
**Unrestricted**
**funds**
**2024**
**£**
5,220|**Total**
**funds**
**2024**
**£**
**24,463**|
|---|---|---|
|||**Total**
**funds**
**2023**
**£**
9,121|
|||**Total**
**funds**
**2024**
**£**
**5,220**|
||||
Page 26
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **8. Analysis of expenditure on charitable activities**
|Accommodation provision
Hub projects
Other projects
**Total 2024**|**Activities**
**undertaken**
**directly**
**2024**
**£**
2,246,694
331,875
481,223
3,059,792|**Support**
**costs**
**2024**
**£**
581,647
106,636
281,130
969,413|**Total**
**funds**
**2024**
**£**
**2,828,341**
**438,511**
**762,353**
**4,029,205**|
|---|---|---|---|
|Accommodation provision
Hub projects
Other projects
**Total 2023 as restated**|**As restated**
**Activities**
**undertaken**
**directly**
**2023**
**£**
2,229,135
310,816
532,411
3,072,362|**Support**
**costs**
**2023**
**£**
588,488
96,473
279,773
964,734|**As restated**
**Total**
**funds**
**2023**
**£**
2,817,623
407,289
812,184
4,037,096|
|---|---|---|---|
See note 17 for the prior year restatement.
Page 27
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **8. Analysis of expenditure on charitable activities (continued)**
## **Analysis of direct costs**
|Staff costs
Agency staff & recruitment
Premises
Food & household
Residential participation
Depreciation
Other direct costs
**Total 2024**
Staff costs
Agency staff & recruitment
Premises
Food & household
Residential participation
Depreciation
Other direct costs
**Total 2023 as restated**
See note 17 for the prior year restatement.|**Accommodation**
**provision**
**2024**
**£**
918,684
124,169
1,147,935
25,515
3,400
20,208
6,783
2,246,694
**As restated**
**Accommodation**
**provision**
**2023**
**£**
927,906
144,157
1,096,217
25,585
2,743
26,448
6,079
2,229,135|**Hub**
**projects**
**2024**
**£**
255,710
68
30,809
9,209
-
23,272
12,807
331,875
**Hub**
**projects**
**2023**
**£**
181,645
5,169
31,938
5,701
-
54,736
31,627
310,816|**Other**
**projects**
**2024**
**£**
388,705
4,920
2,063
-
-
34,771
50,764
481,223
**Other**
**projects**
**2023**
**£**
388,494
11,589
7,243
-
-
22,173
102,912
532,411|**Total**
**funds**
**2024**
**£**
**1,563,099**
**129,157**
**1,180,807**
**34,724**
**3,400**
**78,251**
**70,354**
**3,059,792**|
|---|---|---|---|---|
|||||**As restated**
**Total**
**funds**
**2023**
**£**
1,498,045
160,915
1,135,398
31,286
2,743
103,357
140,618
3,072,362|
||||||
Page 28
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **8. 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 2024**
Staff costs
Agency staff & recruitment
Audit fees
Legal, professional & consultancy
Other support costs
**Total 2023 as restated**|**Accommodation**
**provision**
**2024**
**£**
86,971
414
10,024
13,073
471,165
581,647
**Accommodation**
**provision**
**2023**
**£**
62,237
799
5,898
4,625
514,929
588,488|**Hub**
**projects**
**2024**
**£**
15,945
76
1,838
2,397
86,380
106,636
**Hub**
**projects**
**2023**
**£**
10,202
131
967
758
84,415
96,473|**Other**
**projects**
**2024**
**£**
42,036
200
4,845
6,319
227,730
281,130
**Other**
**projects**
**2023**
**£**
29,588
380
2,804
2,199
244,802
279,773|**Total**
**funds**
**2024**
**£**
**144,952**
**690**
**16,707**
**21,789**
**785,275**
**969,413**|
|---|---|---|---|---|
|||||**As restated**
**Total**
**funds**
**2023**
**£**
102,027
1,310
9,669
7,582
844,146
964,734|
Total expenditure on charitable activities for the year was £4,029,204 (restated 2023 - £4,037,096) of which £3,422,049 was unrestricted (restated 2023 - £3,481,762), £607,155 was restricted (restated 2023 - £555,334) and £Nil (2023 - £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. Petrus' governance costs comprise audit fees and legal, professional & consultancy fees, as identified above.
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 29
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **9. Auditor's remuneration**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**16,706**|9,668|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**1,850**|-|
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**1,632,274**
**51,034**
**24,743**
**1,708,051**|**2023**
**£**
1,411,533
124,081
64,458|
|---|---|---|
|||1,600,072|
The average number of persons employed by the Charity during the year was as follows:
|Accommodation services
HUB Projects
Other Projects
Management and administration|**2024**
**No.**
**30**
**6**
**15**
**4**|**2023**
**No.**
35
6
16
3|
|---|---|---|
||**55**|60|
Key management personnel of the charity comprise the Petrus Charity Director (Sonia Denham) and the Service Leads (Liz Valley, Karen Tyner and Toni Baker). The total employee benefits of the key management personnel were £208,185 (2023 - £218,978).
Page 30
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2023 - £Nil).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £Nil).
## **12. Intangible assets**
|**Cost**
At 1 April 2023
At 31 March 2024
**Amortisation**
At 1 April 2023
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Website**
**Development**
**£**
**9,871**|
|---|---|
||**9,871**|
||**9,871**|
||**9,871**|
||**-**|
||-|
Page 31
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **13. Tangible fixed assets**
|**Cost**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
On disposals
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**Debtors**
**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Leasehold**
**improvements**
**£**
**375,619**
**-**
**-**
**375,619**
**150,246**
**18,781**
**-**
**169,027**
**206,592**
225,373|**Fixtures,**
**fittings &**
**equipment**
**£**
**247,980**
**236,033**
**-**
**484,013**
**214,453**
**31,032**
**-**
**245,485**
**238,528**
33,527||**Computers**
**£**
**89,423**
**5,944**
**(27,030)**
**68,337**
**51,309**
**15,825**
**(27,030)**
**40,104**
**28,233**
38,114
**2024**
**£**
**196,748**
**-**
**22,244**
**54,944**
**273,936**|**Total**
**£**
**713,022**
**241,977**
**(27,030)**
**927,969**
**416,008**
**65,638**
**(27,030)**
**454,616**
**473,353**
297,014
**2023**
**£**
210,824
115,539
2,283
61,579
390,225|
|---|---|---|---|---|---|
|||||||
|||||||
**14. Debtors**
Amounts owed by group undertakings are interest free and repayable on demand.
The bad debt charge in the year was £453,577 (2023 - £661,854).
Page 32
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **15. Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group undertakings
Other creditors
Accruals and deferred income|**2024**
**£**
**204,473**
**363,254**
**11,685**
**334,618**|**2023**
**£**
333,351
145,090
11,328
255,404|
|---|---|---|
||**914,030**|745,173|
Amounts owed to group undertakings are interest free and repayable on demand.
|Deferred income at 1 April
Resources deferred during the year
Amounts released to the SoFA|**2024**
**£**
**73,614**
**17,447**
**(73,614)**|**2023**
**£**
123,379
73,756
(123,521)|
|---|---|---|
||**17,447**|73,614|
During the year, Petrus received Housing First Grant of £237,462 (2023 - £188,431) 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 33
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Property repairs reserve
Staff Training
Service Charges
Hub Exit Strategy
Head Office relocation
ICT investment
General ICT
Westgate
**General funds**
General Funds
**Total Unrestricted funds**
**Endowment funds**
Endowment Funds|**Balance at 1**
**April 2023**
**£**
**247,402**
**6,849**
**57,938**
**90,714**
**22,644**
**33,442**
**-**
**-**
**458,989**
**Balance at 1**
**April 2023**
**£**
**120,812**
**579,801**
**111,426**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Income**
**£**
**3,481,996**
**3,481,996**
**3,343**|**Expenditure**
**£**
**(7,811)**
**-**
**(18,781)**
**-**
**(23,222)**
**(2,685)**
**(15,825)**
**(12,612)**
**(80,936)**
**Expenditure**
**£**
**(3,341,113)**
**(3,422,049)**
**-**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**578**
**-**
**-**
**21,000**
**12,612**
**34,190**
**Transfers**
**in/out**
**£**
**(34,190)**
**-**
**-**|**Balance at**
**31 March**
**2024**
**£**
**239,591**
**6,849**
**39,157**
**91,292**
**(578)**
**30,757**
**5,175**
**-**
**412,243**
**Balance at**
**31 March**
**2024**
**£**
**227,505**
**639,748**
**114,769**|
|---|---|---|---|---|---|
Page 34
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. Statement of funds (continued)**
|**Restricted funds**
Various immaterial funds
Horticulture Health Programme
Gaddums
Innovation Fund
Young Person Social
Prescribing
Changing Futures / MEAM
Tatton
GM Women's Alliance
Action Together
Hospital Discharge Pilot
Housing First
PIER - GMCA
GMEF - Environmental Fund
Nature Based Health Coaching
Town Centre Outreach
Housing First
Housing First - Crisis Fund
Housing First - Peer Activity
Thriving Communities
Housing First, Tenant
Bee Curious Minds
**Total of funds**|**Balance at 1**
**April 2023**
**£**
**-**
**-**
**6,146**
**-**
**10,940**
**19,645**
**-**
**24,498**
**560**
**-**
**-**
**9,053**
**19,750**
**-**
**-**
**-**
**2,248**
**5,000**
**1**
**-**
**-**
**97,841**
**789,068**|**Income**
**£**
**6,954**
**17,000**
**24,588**
**23,604**
**35,105**
**49,218**
**18,847**
**67,505**
**-**
**14,803**
**228,508**
**100**
**19,950**
**700**
**27,215**
**3,000**
**968**
**-**
**-**
**7,986**
**5,000**
**551,051**
**4,036,390**|**Expenditure**
**£**
**(6,954)**
**(14,796)**
**(26,468)**
**(22,793)**
**(49,170)**
**(49,396)**
**(15,929)**
**(86,347)**
**-**
**(10,672)**
**(228,508)**
**(381)**
**(46,502)**
**(480)**
**(25,467)**
**(2,753)**
**(9,237)**
**(1,078)**
**235**
**(7,986)**
**(2,474)**
**(607,156)**
**(4,029,205)**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**-**
**3,125**
**-**
**(2,918)**
**-**
**-**
**-**
**-**
**(8,772)**
**8,801**
**-**
**-**
**-**
**-**
**-**
**(236)**
**-**
**-**
**-**
**-**|**Balance at**
**31 March**
**2024**
**£**
**-**
**2,204**
**4,266**
**811**
**-**
**19,467**
**-**
**5,656**
**560**
**4,131**
**-**
**-**
**1,999**
**220**
**1,748**
**247**
**(6,021)**
**3,922**
**-**
**-**
**2,526**
**41,736**|
|---|---|---|---|---|---|
||||||**796,253**|
Page 35
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. Statement of funds (continued)**
**Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Property repairs reserve
Various items to be funded
from reserves
Service Charges
Hub Exit Strategy
Head Office relocation
Careers academy
ICT investment
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Endowment funds**
Endowment Funds - all funds|**Balance at 1**
**April 2022**
**£**
255,068
138,922
76,719
90,714
-
2,587
-
564,010
**Balance at 1**
**April 2022**
**£**
539,548
1,103,558
110,323|**As restated**
**Income**
**£**
-
-
-
-
-
-
-
-
**As restated**
**Income**
**£**
3,523,739
3,523,739
1,103|**As restated**
**Expenditure**
**£**
(7,666)
(100,602)
(18,781)
-
(5,608)
(18,925)
(22,173)
(173,755)
**As restated**
**Expenditure**
**£**
(3,867,319)
(4,041,074)
-|**Transfers**
**in/out**
**£**
-
24,615
-
-
5,608
16,338
22,173
68,734
**Transfers**
**in/out**
**£**
(75,156)
(6,422)
-|**Balance at**
**31 March**
**2023**
**£**
247,402
62,935
57,938
90,714
-
-
-
458,989|
|---|---|---|---|---|---|
||||||**Balance at**
**31 March**
**2023**
**£**
120,812|
||||||579,801|
||||||111,426|
Page 36
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. 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
Bee Curious Minds
**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|**As restated**
**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|**As restated**
**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 37
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. 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.
## 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.
Page 38
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. Funds (continued)**
Seasonal activities
£2k food vouchers received from Aldi specifically for the Christmas period.
## Horticulture Health Programme
We are delivering strand 1 of the funding stream for the GM Nature For Health programme which is to develop and deliver social and therapeutic horticulture to individuals with severe mental health needs through a referral programme in partnership with the Community Mental Health Team.
Innovation Fund
Training and development of volunteers.
## Hospital Discharge Pilot
The Greater Manchester Homelessness Action Network (GMHAN) and the GM VCSE Hospital Discharge Alliance (via 10GM) are working together to pilot a new intervention aimed at improving hospital discharge experiences for people who face homelessness.
## Extended Saturday Service
To facilitate the Hub opening on a Saturday for service users.
Nature Based Health Coaching
Picnic at the PIER, to cover the cost of food/drink and utensils etc.
## Bee Curious Minds
To deliver a series of horticultural therapy workshops to pupils at Wardle Academy High School as part of the Bee Well in high schools pilot.
## Food Solutions
Delivery of horticulture sessions at the hub with the men's group.
## 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
Page 39
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **16. Statement of funds (continued)**
Tatton Garden competition
Housing First - Tenants Initiative to provide safe and secure homes to vulnerable people.
## 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.
## 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.
## **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.
## **17. Prior year adjustments**
Historically the rental income and operating costs have been presented in Petrus' internal management accounts & Financial Statements gross. Given that Petrus does not own 20 of the 21 schemes, the accounting treatment previously adopted has been incorrect. The concepts of 'principal' and 'agent' are commonly referred to when discussing the gross vs. net presentation of revenue. Under FRS 102, a principal recognises revenue and expenses in gross amounts, whereas an agent merely recognises fees or commissions, irrespective of whether gross cash flows pass through the agent. For 20 of the schemes referenced above, Petrus is the 'agent' and therefore the income recognised in Petrus' SOCI should just be a management fee and not the gross rental income.
The impact of not accounting gross was to reduce turnover in 2024 by £702k (2023, £680k) and operating costs a reduction of £633k in 2024 (2023, £559k), the net movement in both years reflected as management fee income.
Page 40
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
473,353
Current assets
1,080,425
Creditors due within one year
(914,030)
**Total**
639,748|**Restricted**
**funds**
**2024**
**£**
-
41,736
-
41,736|**Endowment**
**funds**
**2024**
**£**
-
114,769
-
114,769|**Total**
**funds**
**2024**
**£**
**473,353**
**1,236,930**
**(914,030)**
**796,253**|
|---|---|---|---|
## **Analysis of net assets between funds - prior period**
|**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|
|---|---|---|---|
## **19. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £24,743 (2023 - £64,458) of which £10,950 (2023 - £11,067) were payable to the fund at the balance sheet date and are included in creditors.
Page 41
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4
## **Petrus Community (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2024**
## **20. Related party transactions**
Regenda Limited, the parent company, had intercompany charges of £513,061 (2022 - £549,841) to Petrus Community.
M&Y (Regenda Partnership) Limited, a company under common control, had intercompany charges of £Nil (2023 - £94,088) to Petrus Community.
Amount owed by group undertakings at year end was £Nil (2023 - £115,539). Amount owed to group undertakings at year end was (£363,254) (2023 - (£145,090).
## **21. 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 5AY.
As at 31 March 2024 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 5AY. No other group accounts include the results of the charity.
Page 42
Document ID: efd652dd3bc8a4f7e0e3ec0ccce68806e326dd3686929516156268673cd810c4