COMPANY REGISTRATION NUMBER: 01705859
CHARITY REGISTRATION NUMBER: 514302
Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Unaudited Financial Statements
Housing registration number: 5054
31 March 2024
EL
Chartered Accountants
217 Long Lane
Halesowen
West Midlands
B62 9JT

Sandwell Homeless and Resettlement Project Limited
Company Llmlted by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporaling the direclor's report)
Independent examiner's report to the trustees
Statement of financial activities (including income and
expenditure account)
10
12
Statement of financial position
13
Statement ol cash flows
15
Notes to the financial statements
16

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporallng Ihe Director's Report)
Year ended 31 March 2024
The trustees, who are also the dlreclors for the purposes of company law, present their report and Ihe
unaudllod financial slatemenls of the charity for the year ended 31 March 2024.
Referenc8 and admlnlstrative detalls
Reglstered charliy name
San(knell Homeless and Reseltlemenl Project Llmlted
Charlly reglstrallon number
514302
Company reglslratlon number 01705859
Princlpal offlce and reglstered 109 Sl. Pauls Road
offlce
Smelhwick
B66 1EY
England
The truslees
Mr M R Waiklns
Ms K Brooks
Ms B Foster
Ms K Perry
Mr S Yates
Mr R Trumpeter
(Resigned 1 July 2024)
(Reslgned 14 August 2024)
(Resigned 26 June 2023)
Indepand8nl 8xamln&r
Mr Chrtstopher Goldie Bsc ACA
217 Long Lane
Halesow8n
Wesl Mldlands
B62 9JT

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporaling the Director's Report) fconllnued)
Year ended 31 March 2024
Structure, governance and managemenl
Governlng Document
The organlsatlon Is a charitable company limit8d by guarantee, Incorporaled on 11 th January 1983 and
registered as a charity on 14th October 1983. The associalion was established under a Memorandum
of Association which established the objects and powers of the charilable company and is governed
under ils Articles of Associalion. In the evenl of the company being wound up members are required to
conlribu18 an amount not exceeding £10.
Recrultment and Appolntment lo Ihe Board
The dlrectors of th8 company are also charily trustees lor the purpose of chafity law and under Ihe
company's Artic18s are known as Board Members. Under the requirements of the Memorandum and the
Arllcles ol Association the Board are elected lo serv8 for a period ol three years after which Ihey may
be re-elected al the next Annual General Meeting.
Sandwell Is a very dlverse area with a wide range of cullur8s and r811gions being r8pr6sented. The
8oard seeks lo ensure that the n8eds of service users are appropriately reflected Ihrough the diversity
of th8 Irus18es elected to the board.
Trustee Inductlon and Tralnlng
New Board M8mbers are invited lo meet the board in order that they may get a feel for the organlsatlon
and to understand the obllgations of becoming a Board Member. After their attendance al Ihls meetlng
if they wish to pursue their application further applicants are invited to visit the projects to meet staff and
beneficiaries. Following this new Trustees may be appointed by the Board and will then be provided with
further opportunities lor induclion and Iraining. Trustees conlrlbule their tim8 and skllls at Board
Meetings and wllh other projects requiring trus188 involvement and calling upon their particular
experlise.
Members of Ihe Board
During ihe year Ryan Trumpeter, a director since 281h September 2022. rasigned.
Board members as at 31 st March 2024.
Mlchael Roland Walklns, director since March 1983
Blanca Foster, director since 15th September 2021
Steve Yates. director since 30th March 2022
Karen Perry, dlrector since 28th July 2021
Kathryn Brooks (Chair), director since 281h November 2018
The posS1ion of company s8crelarywas vacant al year end.
Rlsk Managernent
The Board has drawn up a rlsk register whlch provides details of actions lo be taken to raduce risk. The
risk regisler is revlewed and updated by the Board regularly. The charity also purchases a range ol
Insuranc8 policles.

Sandwell Homeless and Resetllemenl Project LimÉted
Company Llmited by Guarantee
Truslees, Annual Report (Incorporating the Director's Reporl) (conllnued)
Year ended 31 March 2024
Organlsatlonal Structure
Sandwell Homeless and Resettlemenl Prolecl has a Board of up lo 10 members who meel every two
months and who are responsible lor the slrategic direclion and policy of Ihe charity. SHARP embraces
the Equality Act 2010 and recruits Board members from any background and wilh any of the 9
protected characleristlcs described within th8 Act. At the year end Ihe Board had 5 members.
Day-to-day responsibility for the provision of operations, s8rvices and flnanclal probity is delegated by
the Board to the Senior Officers employed by SHARP, These senlor officers are responslble for
ensuring that the charity delivers Ihe services specified and that the charity meets Its obllgalions and
aspirations.
Ai year end a Business Manager was In plac6, supported by two proj8Ct managers, one for The Gap
prolect and one lor The Gables and Communiiy Support.

Sandwell Homeless and Resettlement Project Limited
Company Limlted by Guarantee
Trustees, Annual Report (Incorporaling the Director's Report) (¢ontlnu&d)
Year ended 31 March 2024
Obleetlves and actlvllies
Oblectlves
The Charity's objects and principal aclivilies are lo:
Care for persons in need, who are homeless or who by reason of adv8rs8 circumstances are in need of
help In acquiring a settled way ol lile through the establishmenl ol rasidential accommodation and to
asslst these persons so as to develop thelr physical. mental and spiritual capacllles Ihal they may
develop full maturity as responsible individuals and members ol society and that their conditions ol life
may be improved.
The main objectives and activities lor Ihe year continue to focus upon helplng people who ar8 home18SS
lo find appropriate accommodation, eilher within SHARP or elsewhere, ollcr them support and advice to
enable them to manage thelr accommodation and to enjoy a reasonable quality of life. SHARP Is a
rsgislered social landlord,
The strategies employed to asslst Ihe charily to meet Ihese objecllves Include, but nol exhaustively, the
followlng;
Provlde accommodation ot good quallly for homeless people in Sandwell
Provlde a service for homelass people in Sandwell and slgnpostlng to Other agencles as approprlate
glvSng Information on vacancies and support where available in Sandwell
Provlde the support necessary to enable service users to manage their own accommodatlon
successfully
Involve service users in Ihe development ol their personal support plans, which include attainable
largels, regular reviews and118xibillly lo enable and embrace change
Train service us8rs lo use the inlernel to allow them lo access a number of online activities such as
bldding for a home, findlng a job and reglsterlng lor universal credit
Llaise with local housing providers concerning housing and other needs of seNice users
Research the housing needs of homeless people
Paiticipale proacliv8ly wllh local initiatives including Sandwell Council of Voluntary Organlsations, and
Sandw811 Metropolitan Borough Council

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Truslees, Annual Report (Incorporating the Dlrector's Report) (¢onlinued)
Year ended 31 March 2024
Aclivltles
The GAP Supported Houslng Project
The GAP prolect consists of 30 tumished one bedroom flats al Selby House, Oldbury. GAP offers
accommodation and support to teenage parents and their children. also single females aged 16 to 19
years.
Communlty Floallng Support & Spol Purchaslng
SHARP provides floating support through a contract with Ihe council and sp8ciallsl support through spot
purchasing. This service supporls 20 individuals with enduring mental health concern needs to maintain
Ihelr tenancies and wellbelng by assisting with budgeting, shopping. arranging and accompanying lo
appointments, dealing with and understanding mail and liaising with other relevant agencies.
247 & 247a Barclay Road, Smethwick
Barclay Road offers accommodatlon to 2 ex-service users in two self-contained apartments. The
freehold of Barclay Road is owned by SHARP. This accommodation Is designed for fully Independent
living but we can provide support when requested or sign post lo the relevanl agency.
The Gables
The Gables Is enjoying its 4th year and has firmly established ils reputation as an excellent provider of
supported accommodallon withln Sandwell. We are conlinuing lo work In conlunctlon wilh Sandwell
Councll's Complex Hub Team in accepling thelr referrals and il is gralilylng that Ihey often refer to us
before refeiring lo other Sandwell supported accommodation providers. We have 19 units of
accommodatlon each with Iheir own bathroom and share a communal dinlng area.

Sandwell Homeless and Resetllemenl Project Limited
Company Limiled by Guarantee
Trustees. Annual Report (Incorporating the Dlrector's Report) (conllnu8d)
Year ended 31 March 2024
Achlevemenls and performanc8
The GAP supported houslng project
During the year 13 families successfully moved into thelr own accommodation. The referral crileria for
the Gap were extended lo include parents up to the age ot 25. Throughout the year we have been
awalllno a re-tenderlng of the service and have been in conversation wilh Sandwell Councll as lo the
tlmlng of thls, bul unlortunalely as of 31st July 2024 the projocl was decommissioned by the Councll,
The stall team has been setlled and staff have underiaken training across a range of relevant areas
including: Gang Awarenoss, County Lines and Knife Crime, Domestic Abuse Training, Managlng
Allegalions, Plus Programme Mental Health Awareness Training, Learning from Domesllc Homicide
Fleviews, Suicide Awareness Training, Journeying to a cullurally compelenl understanding workforc8,
Working with men who us8 abuse in relationships.
247 & 2478 Barclay Road, Smethwlck
We have provided outreach supporl lo our rosidents and continued to help Ih8m live independently
wlthln the community.
The Gables
We continue lo recelve referrals for Indivlduals wlth endurlng mental health dlfflcullies, and who have or
would struggle wllh mainlaining their own lenancies and the t8am hav8 recelved posiliva feedback from
the involved agencies lor providing a safe non-judgmenlal home environment.11 is at pr8sent envisaged
that the malorily will be residing longer term al the Gables due lo there being a lack of appropriat8 move
on accommodation or becaus8 an independent tenancy would nol be appropriate.
We continue to wot* in partnership with SM8C Complex Hub, Cranstoun drug and alcohol s8rvic9S,
SmethwSck Public Health, Smethwick Communlty Development plus the Community Mental Heallh
Teams and it is rewarding that some of Iheir team m8mbers have become regular vlsltors due to
developing strong working relationships.
Al present we are developlng links wlth several olher agencies within the local area and worklng with
other service providers to develop our service internally and externally.
130 people (including the current residenls) have resided at the Gables since Dec8mb8r 2020 and th8
majority have moved into their own tenancies or other supported housing schemas.
Wa continue to receive very posilrv8 feedback from residents aboul the safe livlng environment W8
provide and that they really do consider the Gables to be 'home'.

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2024
Flnanclal r8vlew
Responslblllties of the Board
The Board is responsible lor maintaining proper acLounling records which disclose, with reasonable
accuracy at any tlme, the financial position of Ihe chaiilabla company to anable Ihem to ensure thal the
financlal slatemenls comply with the Companies Act 2006. The Board is also responsible for
safeguarding the assets of the charitable company and for taking reasonable steps for the prevenllon
and detection of fraud and any other irregularities.
Inveslment Pollcy
Under the Memorandum and Articles ol Association, the charity has the power to invest in th8 Interest
of the charity andlor Its beneflciaries. The Board, having regard to the liquidity requlremenls of the
organisation and to the reserves policy, have operated a policy of keeping availabl8 funds In an inleresl
bearing deposSt account,albeil with low reserves Ihis does not currently generate any signlficant incoma.
Reserves Pollcy
Havlng exam Ined the circumstances facing ihe charity and ils futur8 Income and exp8nditur8 patterns
the Iruslees have establlshed that a prudent lev81 ol reserves for the charily to hold would b8 equSvalenl
to three month's salary costs (including lax and Nl costs) plus a sum to cover exceptional costs related
to closure I transfer of the charlty - as al April 2024 the former figure would amounl to £131,000 whllst
the laller figure was set at £35,000. We are p18ased lo conflrm that our reserv8 lev81s conllnue lo be
sullicient Io cov8r thls sum. We will continue to try to strenglhen our reserves lurlher in lulure years.
Rèvlew ol the year Aprll 2023 to MarGh 2024
Thls year has been a year of consolidation and development. We are delighted that we have been able
to repay the loan laken out to finance the refurbishment ol Ihe Gables. We are also p18ased to have
been able lo continue lo be a real living wage employer during ihe current cost of livlng crlsls. We have
continued to dev81op the services we offer at both our major cenlres Including extending the criteria for
admlssion lo the Gap and achleving high levels ol occupancy at The Gables. We made serious
consideration of becomlng Qfsled registered to enable the GAP to be able to take 'Looked Afler" 16117
year olds under new regislration provisions, bul ullimately we decided against this.
Plans for 2024-25
We wlll begin to explore n8w ventures and continue to improve and extend we offer In our exlsting
projects.

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2024
Accounts
Company law requires the Board to prepare linancial statements for each financial year which gives a
true and fair view of the state of aff airs of the charitable company as at lh8 balance sheet dale and of ils
incoming resources and application ol resources for the financial year. In preparing those linanclal
siaiements, Ihe Board lollows best practice by.
Seleclino suitable accounting pollcies and Ihen applwng ihem consistent
Making judgements and estimales that are prudent and reasonab18: and
Preparing the flnancial statements on a going concern basis unless it is inappropriate to assume Ihal
the company will continue on that basis
The Board Is responsible for maintaining propar accounling records whlch disclose with reasonable
accuracy at any lime the flnancial position ol the charitable company and to enable them to ensure that
th8 flnancial sta18ments comply with the Companies Acl 2006. The Board is also responsibl8 for
safeguarding the assels of the charitable company and hence for taking reasonable sleps lor the
prevention and daleclion of fraud and other irregularllies.
Member8 of the Board
Members of the Board, who ar8 dlr8clors for the purpose ol company law and Iruslees for the purpose
ol charity law, who served durlng the year and up to the dale of thls report are set out on page 1 .
In accordance with company law, as the companls Dir8clors, we certify that:
So far as we are aware, there 18 no rolevant informallon of which the company's accountants are
unaware. and
As Dlrectors of the company we have taken all the steps that we ought lo have taken In order to make
ourselves aware of any relevanl information and to eslabllsh that the charitable companys accountants
are aware ol Ihal informatlon.
Small company provlslons
This report has been prepared in accordance with the provislons applicab18 to companles enlitled to th6
small companies exemptlon.

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2024
The trustees, annual report was approved on 11 September 2024 and signed on behalf of the board of
trusloes by..
Ms K Brooks
Trustee

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Signature 1
Signed by Kathryn Brooks usSng aulhentlcalion CCKle SWhvM2whlUV8cW1x al IP address 217.155.138.151. on 2024109119 09:37:45 Z.
Kathryn Brooks 's e-mail address is- kalhrynbrookshere@gmail.¢¢)m.

Sandwell Homeless and Resettlement Project Limited
Company Limlted by Guarantee
Independent Examiner's Report to the Truslees of Sandwell Homeless and
Resetllement Project Limited
Year ended 31 March 2024
I report to the trustees on my examinalion ol tho financial statements of Sandw611 Homeless and
Reselllament Prolecl Llmited ('the charity'l for the year ended 31 March 2024.
Responslbllllles and basls of report
As the Irus166s of the company {and also its directors for the purposes of company law) you are
responslble for the preparation ol the linancial statements In accordance with the requirements of the
Companies Acl 2006 ('th8 2006 Act,).
Having satlsflcd mysell Ihal th8 accounts ol the company are not requlred lo be audited under Part 16
of th8 2006 Act and are eligible for indepandent examination, I report in respect ol my 8xaminalion of
the charily's accounts as carried out under seclion 145 of the Gharities Act 2011 ('the 2011 Act,). In
carrylng out my examination I hav8 followed the Directions given by thg Charity Commisslon under
s8cllon 145{5)(b) of the 2011 Act.
Independenl examlner's slalement
Slnce the charity's gross Income exceeded £250,0(M) your examiner must be a member of a body Ilsled
In section 145 of the 2011 Act. I confirm Ihal l am qualified lo undertake th8 examlnalion because l am
a member of the Institute of Chartered Accountants in England and Wales {ICAEW), which Is one of the
listed bodles.
I have completed my examlnation. I confirm Ihat no mallers have come to my att8ntlon In connectlon
with the examlnatlon glvlng me caus810 believe:
accounting records were not kepl in respect ol the charity as required by s8Ction 386 of the
2006 Act; or
the financial statements do not accord wllh those records; or
the flnancial statements do not comply wilh the accounting requirements of section 396 ot
the 2006 Act other than any requiromenl that the accounls give a 'true and fair, view which is
not a matler consldered as part of an independent examination; or
the financlal statements have not been prepared in accordance wilh the melhods and
princlpl8s of the Statement of Recommended Practice for accounling and reporting by
charities applicable lo charilies preparing their accounts In accordance with the Financial
Reporting Standard appllcablc in the UK and Republlc ol Ireland (FRS 1021.
10

Sandwell Homeless and Resettlement Project Limited
Company Llmlted by Guarantee
Independent Examiner's Repoit to the Trustees of Sandwell Homeless and
Resettlement Project Limited (conllnued)
Year ended 31 March 2024
I have no Concerns and have come across no other matters in conneclion wilh the examination to which
atlention should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
Mr Chrlslopher Goldie Bsc ACA
Ind8pendent Examiner
217 Long Lane
Halesowen
West Midlands
862 9JT
11 September 2024
11

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Statement of Financial Activilies
(including income and expenditure account)
Year ended 31 March 2024
2024
Aestricled
funds Total lunds Total lunds
2023
Unreslricled
funds
Note
Income
Donations and grants
Charitable actlvilles
Investment Income
48,1 (X)
641,716
1,271
691,087
4,779
52.879
641.716
1,271
695,866
128,257
537,481
254
Tolal Income
4,779
663,992
Expendlture
Expendilure on raising funds:
Costs of ralsing Income
Total expendllure
576,016
14,922
14,922
590,938
590,938
572,233
576,016
572,233
Nel Income and net movemenl In lunds
115,071
(10,143)
104,928
91,759
Reconclllatlon of funds
Total funds brought forward
Total funds carrled loThvard
297,773
412,844
823,785
813,642
1,121.558
1,226,486
1,029,799
1,121,558
The siatemenl of Ilnancial activities includes all gains and losses recognised in th8 year.
All income and expendllure derive from continuing aclivilies.
The notes on pages 16 to 29 tomi part of theso flnanclal stalements.
12

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Statement of Financlal Position
31 March 2024
2024
2023
Note
Fixed assets
Tanglble fixed assets
13
1,008,718
1,018,512
Current assels
Debtors
Cash at bank and in hand
14
62,741
162,867
225,608
61,259
144,975
206,234
Credltors: amounts lalllng due wilhln one year
Nel current assets
15
7,840
10,111
196,123
1,214,635
217,768
Total assels le88 currenl Ilabllitles
1,226,486
Credltors: amounts falling due after more Ihan on8 year
Nel a88ets
16
93,078
1,226,486
1,121,557
Funds of the charlty
Reslrlcled lunds
Unrestricted funds:
Revaluatlon reserve
Oth8r unrestricted Income funds
813.642
823,784
93,839
319,005
412,844
1,226,486
93,839
203.934
297.773
1,121,557
Total unr8strlcte(I funds
Toial charlly funds
18
For the y8ar ending 31 March 2024 the charlty was entilled to exemption from audlt under section 477
of the Companies Act 2006 relating lo small companies,
Dlreclors, responsibllllles:
The members have not required the company to obtain an audit of Its financial statements for the
year in question In accordance wilh seclion 476:
The directors acknowledge their responsibilitl8s for complying with the requirements of the Act
with respect lo accounting records and the preparation of financial statements.
Thes8 financlal slalements have been prepared in accordance with the provisions applicabl8 10
companles subject to the small companies, regime.
The statement of financial position
continues on the following page.
Tho notes on pages 16 to 29 form part ol these flnanelal stalemenls.
13

Sandwell Homeless and Resetllement Project Limited
Company Llmited by Guarantee
Statemenl of Financlal Position fconlinued)
31 March 2024
These financial statements were approved by the board of trustees and authorised for Issue on 11
September 2024, and are signed on behalf ol the board by:
Ms K Brooks
Trustee
Tho noles on pages 16 10 29 lorm part of these flnanclal slalamants.
14

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Signature 1
S1gned by Kathryn Brooks using aulhentlcallon code SWhvM2whlUVecW1x at IP address 217.155.138.151. on 2024109119 09:37'.55 Z.
K8lhryn Brooks 's e-mall addross is.. kalhrynbrookshere@gmail.com.

Sandwell Homeless and Resettlement Project Limited
Company Llmlted by Guarantee
Stalement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash Ilows Irom operallng acllvltles
Nel incom8
104,928
91,759
Adjustments for..
Depreciation of tanglble fixed assets
Other interest receivable and similar income
Inlerasi payable and similar charges
Accrued income
9.794
(1,271)
4,181
{3,531)
10,170
1254)
9,729
142,536)
Changes in..
Trade and other debtors
Trade and other creditors
2,169
{1,087)
115,183
1288)
(347)
68,253
Cash generated from operations
Interest pald
Inleresl received
{4,181)
1,271
112,273
19,7291
254
Nel cash from operating actlvitl8S
58,778
Cash Ilows from Investlng 8ctlvltle8
Purchase ol langlb18 assets
Nel cash uséd in investing activ1ti8S
(499)
(4991
Cash flows Irom flnanclng acllvllles
Proceeds from borrowings
Nel cash used In linancing aclivltles
(94,382)
(94,382)
(73,388)
{73,388)
Net Increas81{decrease) In cash and cash equlvalen18
Cash and cash equlvalents at beglnning of year
Cash and cash equlvalents al end ol year
17,891
144,975
162,866
(15,109)
160,085
144,976
The notes on pages 16 to 29 form part of th8se flnanclal stalemenls.
15

Sandwell Homeless and Resettlemenl Project Limited
Company Limlted by Guarantee
Notes to the Financlal Statemenls
Year ended 31 March 2024
General Informatlon
The charily is a public benefit entity and a privale company limited by guarantee. registered in
England and Wales and a registered charity in England and Wales. The address ol the regist8red
olllce Is 109 Sl. Pauls Road, Smethwick, 866 1EY, England.
statem8nt of compliance
These financial statements have been prepared in cornpliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, Ihe Slatam8nl of
Recommended Praclice appllcable to charitias preparing their accounts in accordance with the
Financial Roporting Standard applicable in Ihe UK and Republic ol Ireland (FRS 102) (Charilies
SORP IFRS 1021) and the Companies Act 2006.
Accountlng pollcles
Basls of preparatlon
The linanGial slatements have been prepared on the historical cosl basls, as rnodilied by the
revalualion of cerlain financlal assels and Ilabililles and investment properti8s measured at fair
value through income or exponditure.
The financial statements are pr8par8d in sterling. which is Ihe functional currency of the entity.
Golng concern
There are no material uncertalntles aboul the charltls ability to contlnuo.
Judgemenls and key sources ot esllmatlon uncerlalnty
The preparatlon ol the financlal statements r8qulres management to make judgements, estimates
and assumptions that allecl the amounts reported. These estimates and judg8menls ar8
Gontinually reviewed and are based on experience and other factors, includlng expectations of
future events thal are believed lo b8 reasonable under tha circumstances,
Forelgn currencles
Foreign currency iransactions are inilialty recorded In the functional currency, by applying the spot
exchange rate as at the date of the Iransaction. Monetary assets and liabilities denominaled in
foreign curr6ncies are translated at the exchange rate ruling at the reporting dat8, Wlth any gains
or Ioss8s being taken to the statement of flnancial activities.
Fund accountlng
Unr8Strieted lurKls are available for use at the discretion of the trustees to further any of tha
charity's purposes.
Deslgnated funds are unrestrtcled funds earmarked by the trustees for partlcular future project or
commitment.
Restricted funds ara subjected lo restrictions on their expendilure declared by the donor or
through the torms of an appeal, and fall into one of two sub-classes: reslricted incomo lunds or
endowment lunds.
16

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2024
Accountlng pollcles {contlnu8d)
Incomlng resources
All incomlng resources are included in the slatement of financial activities entillemenl has
pass8d to the charity. it is probable Ihal Ihe economic benefits associated with Ihe transactlon will
flow to the charity and the amount can be r81iably measured. The following specific policies are
applied to particular categories of income:
Income from donations or grants is recognised when ther8 is evidence ol entitlement to the
gSft, recelpl is probabl8 and Ils amount can be measured rellably.
legacy Income is recognised when r8CelPt is probable and entitlement is establlshad.
Income trom donaled goods is measured at the falr value of the goods unless this is
impractical to measure reliably, in which case tha value is derived Irom the cost to Ihe donor
oi Ihg estlmaied resale value. Donated lacilities and services are recognls8d in the accounts
when received if the value can be rellably measured. No amounts arè Includ8d for the
contribullon ol general volunt88rs.
Income from contracts for the supply of services is recognis8d with the dellvery of the
contracted service. Thls Is classlfi8d as unreslricted funds unless there is a contractual
requlremenl lor it to be spent on a particular purpose and relurned11 unspent, in whlch case it
may be regarded as reslricted.
Resources expended
Expenditure Is recognised on an ac¢ruals basis as a liabilily Is incurred. Expenditur8 in¢lud8s any
VAT which cannot be fully recovered, and is classified under headings ot the slalamanl of flnancial
activilies lo whlch11 relales..
expenditure on ralslng funds includes the ¢OSls ol all fundraising acllvitles. events, non-
charitable Irading activities, and Ihe sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
aclivilies that further ils charilable aims for the benofit of ils beneficiaries, including those
support costs and costs relating to the governance of Ihe charity apportioned to charitab18
activities.
other expenditure includes all expenditure that is neither related to raising funds for Ihe
charity nor part of ils expendilure on charitable activities.
All costs are allocated to expenditure categories reflecling the use of the resource. Direct costs
attributable to a slngle activity are allocated directly to that activity. Shared costs ara apportioned
between the activities Ihey contribute lo on a reasonable, justifiable and consistant basis.
Operatlng leases
Lease payments are recognised as an expens8 over the18ase term on a straighl-llne basts. The
aggregate benafil ol lease incentives is recognised as a reduction to expense over the lease lerm,
on a straight-line basis.
17

Sandwell Homeless and Resettlement Project Limited
Company Limlted by Guarantee
Notes to the Financial Statements {conlIn￿d)
Year ended 31 March 2024
Accounting pollcles (contlnued)
Tanglble assets
Tangibl8 assets are initially recordad al cost, and subsequenlly stated at cost less any
accumulaled deprecialion and impairment losses. Any tangible assets carried at revalued
amounts are recorded al the falr value al Ihe date of revaluation less any subsequent accumulated
depreciation and subsequent accumulated Impairment losses.
An increase in the carrying amount of an asset as a r8suII ol a revalualion, Is recognised in other
recognised gains and losses, unSess il reverses a charg& for impairment that has proviously been
re¢ognised as expenditur8 Within the slatement of financial activities. A decrease in the carrying
amount of an asset as a result ol revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain. in which case the loss is shown within
olher recognised galns and losses on the Statement of financial actlvili8S.
The properly was valued on 1 Oth June 2021 by Bruton KnovAes Propety Consullants, a quallfled
member of the Royal Institution of Charterecl Surveyors (RCIS).
Depreclalion
Depreclalion is calculated so as to wr118 off th8 Cost or valuation of an asset, less Ils residual
value, over the useful economic Ilfe of that asset as follows:
20Yo Straight line
20¥0 Straight lin8
Plant and machlnery
Flxtures and fillings
No depreciation has been charged on freehold property as the Trustees believe that the prop8rty
wlll be mainlalned to a level where the value of Ihe property is not expected to diminish, The
properly will be valu8d with sufficient regularity lo ensure Ihal the value reported in the flnanclal
statements is not materially different to its actual market value.
Impalrment ol IIx8d ass818
A review lor indicators of impairment is carried out at each reporling date, with the recoverable
amount being 8Stimated where such Indicators exisl. Where Ihe carrying value exceeds Ihe
recoverable amount, Ihe asset is impaired accordingly. Prlor impairments ar8 also reviewed for
posslble reversal at each reporting date.
For the purposes of Impairment testing, when it is nol possible to estimate the recoverable amount
of an Individual asset, an estimale is made of Ihe recoverable amount of tha cash-generating unil
to which the asset belongs. The cash-generaling unil is the smallest idenliliable group ol assets
Ihat includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing ol goodwill, the goodwill acquired in a business cornbination is, from the
acquisition date. allocaled to each of the cash-generating unils that are expected to benefit from
the synergies ot the combination, irrespective ot whether other assels or liabilitios of the charty
are assigned to those unils.
18

Sandwell Homeless and Resetllement Project Limited
Company Limited by Guarantee
Notes to the Financial Statemenls (contlnued)
Year ended 31 March 2024
Accounting pollcles (contlnu8d)
Flnanclal Instrumènls
A Ilnancial asset or a financial Ilability Is recognised only wh8n tho chafily becomes a party to the
contractual provisions of the Instrument.
Baslc Ilnanclal instruments are Inltlally recognised at the amount recelvable or payable including
any related transaction cosls.
Curr8nt assets and current liabilltias are subsequently measuied al the cash or other
consld8ralion expected lo be paid or received and nol discounted.
Debt Instruments are subsequ8nlly measured at amortised cost.
Where inveslm8nls In shares are publicly traded or Iheir lair value can olh8rwis8 be measured
reliably. the inveslment is subsequently measured at fair value with changes In fair value
r8cognised in income and expenditure. All olher such investments are subsequently measured at
cost less impairment.
Other fSnanclal Instruments, includlng derivatives, are initially recognised at falr value, unless
payment for an asset is deferred beyond normal lyjsiness terms or linanced at a rate of interest
that is not a market rate, in which case Ihe assel is measured al the present value ol the future
payments discounted at a markel rate of inlerest lor a similar debl Instrument.
Other financial Instruments are subsequently measured at fair value, with any changes recognised
in the slalemenl ol financial activltles, wlth the exception of h8dglng Instruments in a designated
hedglng relationship.
Financial assets thal are measured at cost or amortised cost are reviewed lor oblecllv& evidence
ol Impalrmenl al the end of 8ach reporlSng date. If ther8 is objective evidence ol impairment. an
impalrment loss is r8cognised under Ihe appropriate headlng in the slalemenl of financial activlties
in which the inllial galn was recognised.
For all equlty Instrumenls regardless of significance, and other financial assets Ihat are Individually
significant, these are assessed individually for impairment. Other financial assels are elther
assessed individually or grouped on the basis of similar credit risk characterislics.
Any reversals of Impairmenl are recognised immediately, to the gxt8nt thal the reversal does not
result in a carrytng amount ol the financial assel that exceeds what the carrying amount would
have been had the impairmenl not previously been reGognised.
Deflned contrlbullon plans
Contributions to dellned contribution plans are recognised as an expense in the period In whSch
the related servlce is provided. Pr8paid conlrFbutions are recognised as an asset to the extent that
the prepayment will lead lo a reduction in future payments or a cash refund.
When contributions are not expected lo be seltled wholly within 12 months of the end of the
reporting date in which the employees render the relaled service, the liability is measured on a
discounted present value basis. The unwinding of the discounl is recognised as an expense In the
period in whlch it arises.
19

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
Llmlted by guarante8
The charity is a company Ilmlled by guarantee and consequently does not have share capital.
Each member has undertaken lo contribute £10 to Ihe assets of the company io meet ils liabilities
if called upon to do so.
Donations and grants
Unrestricted
Funds
Restrlcted Total Funds
Funds
2024
Donallons
Unrestricted donations
Reslricled donations - Bauer Radio
ReslrScled donations - Arnold Clark Foundation
Restricted donations- The Blakmore Foundalion
ReslrScted donallons - SCVO Vision Grant
Restricted donations - DHU Heallh Care
Restricted donations - The Rowlands Trust
Rest¥lGled donallons - Baron Davenports Charlty
Restricted donations - BBC Childr8n in Need
R8slricled donations - The Othona Community
Reslrciled donations FIFlow The Morrison
Raslricted donations - Micha81 Marsh Trust
Reslrict8d donations - Cole Charitab18 Trust - Gables
Beds
29,600
29,600
60
500
1,109
910
1,000
60
500
1,109
910
1,000
1,200
1,200
Grants
SMBC core grant
18,500
48,100
18,500
52,879
4,779
Unrestricted
Funds
Restricled Tolal Funds
Funds
2023
Donatlons
Unrestricted donations
R8slricled donations - Bauer Radlo
Restricted donations - Arnold Clark Foundalion
Restricted donations - The Blakmore Foundalion
Restricted donations - SCVO Vision Grant
Restricled donations - DHU Heallh Care
Restricted donations - The Rowlands Trust
Restricted donations - Baron Davenports Charty
Restricted donations - BBC Children in Need
Restricted donations - The Othona Community
Reslrcited donations - FIFlow The Morrison
Restricted donalions - Michael Marsh Trust
Restricted donalions - Cole Charitable Trust - Gables
Beds
30.060
30,060
2,125
1,000
110
2.125
1.000
110
1,000
640
8.340
323
5.000
549
1,000
640
8,340
323
5.000
549
1,500
1 ,500
20

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Stalements (conllnued)
Year ended 31 March 2024
Donalions and grants (conilnued)
Unrestricted
Funds
Reslriclod Tolal Funds
Funds
2023
Granls
SM8C core grant
75,610
105,670
75,610
126,257
20,587
Charltable acllvltles
Unreslricled Total Funds Unreslricted Tolal Funds
Funds
2024
Funds
2023
Barclay Road
GAP project
Community supporl
Gables
Student placement fees
11,695
202,781
74,378
351,182
1,680
641,716
11.695
202.781
74,378
351,182
1,680
641,716
7,812
194,483
73,102
262,084
7,812
194,483
73,102
262,084
537,481
537,481
Investment Income
Unrestricted Tolal Funds Unreslrlcted Total Funds
Funds
2024
Funds
2023
Bank interest receivable
1,271
1,271
254
254
21

Sandwell Homeless and Resetllement Project Limited
Company Limited by Guarantee
Notes to the Financial Statements (eontlnued)
Year ended 31 March 2024
Costs of ralslng Income
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Charitable fund raislng costs
Wages and salaries
Employer's NIC
Pension costs
Insurance
Other molorllravel costs
Legal and professional lees
Information technology
Other ofllce costs
Depreciallon
Bank charges
Bank loan int8resl
Other support costs
Training
Accountancy fees
PremSses expenses
10,458
414,987
24,253
4,939
10.727
3.384
3,712
5,546
14.300
2.859
353
4,181
9,540
21
4,320
62,436
10,458
414,987
24,253
4,939
10,727
3,384
3,712
5,546
14,300
9,794
353
4,181
15,528
21
4,320
64,435
6,934
5,988
2,000
14,922
576,016
590,938
Unrestrlcted
Funds
R8Stricled Total Funds
Funds
2023
Charltable fund raising costs
Wages and salaries
Employer's NIC
Pension costs
Insuranc8
Other molorllravel costs
Legal and professional lees
Information lechnology
Other offlce costs
Depreclation
Bank charges
Bank loan inlerest
Other support costs
Training
Accountancy fees
Premises expenses
11,154
381,594
23,579
3,529
9,461
2,421
4,208
6,057
15,070
3,235
248
9,729
6,541
972
4,080
42,215
524,093
11,154
405,117
23,579
3,529
9,461
2,421
4,208
6,057
15,070
10,170
248
9,729
15,468
972
4,080
50,970
23,524
6,935
8,927
8,754
48,140
572,233
22

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2024
Net Income
Net income is staled afler chargingl(credlling):
2024
2023
Depreciallon of tangible fixed assets
Foreign 8xchang8 differences
Operating lease rentals olher
9,794
353
1,493
10,170
248
4,215
10. Independent examlnalion fees
2024
2023
Fees payable lo the independent examlner for:
Independent 8xaminallon of the financial stat8menls
4,200
4,200
11. Staff c08ts
The average head count of employees durlng the year was 23 (2023: 24). The average number of
lull-lime equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Buslness manager
Head of Gare and Gommunily
Central admin
GAP prolect
Community support
The Gables
23
24
No employee received employee benetits of more than £60,000 during the year (2023.. Nil).
Key Management Personnel
The total remuneration paid to key management personnel in the year amounted to a total of
£38,967 {2023: £45.437).
12. Truste8 remuneration and expenses
None of Ihe trustees received a remuneratlon. No olher benefits from employment with the charlly
or a related enlity were recelved by the Iruslees.
No trustee expenses have been incurred
23

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Stalements (contlnued)
Year ended 31 March 2024
13. Tanglljle flxed assets
Freehold
propariy
Plant and Flxlures and
machlnery
fittings
Tolal
Cost
At 1 Aprll 2023 and 31 March 2024
Depreciatlon
At 1 April 2023
Charge for the year
At 31 March 2024
995,000
74,527
34,675
1,104,202
68.902
2,860
71,762
16.788
6,934
23,722
85,69D
9,794
95,484
Carrylng amounl
Al 31 March 2024
995,IXJO
995,000
2,765
5,625
10,953
17,887
1,008,718
1,018,512
At 31 March 2023
Freehold property Is used for the purpose of social houslng.
Fr88hold property was valued on 10 June 2021 by 8rulon Knowles Property Consultants, a
quallfied member of the Royal Institullon of Chartered Surveyors (RCIS). The basis on which the
valuatlon was made was depreciated replacgment cost.
Tanglble flxed assets held at valuatlon
In respect of langible flxed assets held al valuation. th8 aggregate cosl, depreclation and
comparable carrying amount that would have been recognised if the assels had beon carried
under the historical cost model are as follovrfs:
Freehold
property
At 31 March 2024
Aggregate cost
Aggregat8 depreclation
Carrylng value
526,289
526,289
At 31 March 2023
Aggregate cost
Aggregate depreciation
Carrying value
526.289
526,289
14. Debtors
2024
2023
Prepayments and accrued income
62.741
61,259
24

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes lo the Financial Statements {conllnued)
Year ended 31 March 2024
15. Credltors: amounts talllng due withln one year
2024
2023
Bank loans and ov8rdralts
Trad8 creditors
Accruals and deferred income
Other credllors
1,304
4,531
4,080
196
3,640
4,200
7,840
10,111
16, Credltorg: amounts falllng due afler more than one year
2024
2023
Bank loans and overdrafts
93,078
17. Penslons and other post rellr8ment ben6flt8
D6flned contrlbullon plans
The amount recognised In income or expendilure as an expense in relation to delined conlrlbution
plans was £4,939 (2023: £3,529).
18. Analys18 of charltable funds
Unreslrlcted lund8
Al
31 March 202
At
1 April 2023
Incom8 Expanditure
Transfers
General funds
Revaluation reseNe
203,934
93,839
297,773
691,087
(576,016)
319,005
93,839
691,087
(576,016)
412,844
At
31 March 202
At
l April 2022
Income Expendilure
Transfers
General funds
Revaluatlon reseNe
83,218
93,839
643.405
{524,093}
1 ,404
203,934
93,839
297,773
177,057
643.405
(524,093)
1.404
25

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financial Statements {contlnued)
Year ended 31 March 2024
18. Analysls of charilable funds (¢ontlnuedJ
Restrlcted funds
At
31 March 202
Al
l April 2023
Incom8 Expendilure
Translers
Grantham Yorke Trust
W81come Boxes
The Rowlands Trust
Baron Davenporls
CharSly
BBG Chlldren In Need
Roger & Douglas
Michael Marsh Trust
Cole Charitable Trust -
Gable Beds
DPD Trust- Weston Trlp
DPD Group - GAP
Project
Bauer Radio
H8art of England
Lloyds Bank
The Clothworker
Foundation
Arnold Clark Automotlve
The Blakmore
Foundation
139
1,000
(139)
{400)
910
1,510
1,000
(1,0001
1,200
{161)
1,039
449
340
(449)
{340)
(7)
1744)
744
935
{935)
60
(60>
26

Sandwell Homeless and Resettlement Project Limited
Company Limlled by Guarantee
Notes to the Financial Statemenls (conllnued)
Year ended 31 March 2024
18. Analysls of charllable funds {conllnued)
The George Henry C
GHCC
Cheshire Community
CCF
Leeds Building Soclety
The Percy 8illon Chaiily
The Othona Community
FIFlow The Morrison
SCVO Vision Grant
DHU Health Care
The Gables
The Gables Revaluation
686
(657)
29
323
1,276
{323)
{1,276)
1500)
(996)
(6,935)
500
1,109
113
436,079
374,872
813,642
443,014
374,872
823.785
4,779
(14,9221
Al
31 March 202
At
1 April 2022
Income Expenditure
Transfers
Grantham York8 Trust
Welcome Box8S
The Rowlands Trusl
Baron Dav@nporls
Charity
BBC Chlldren in Need
Roger & Douglas
Michael Marsh Trust
Cole Charitable Trust-
Gable Beds
DPD Trust - Weston Trip
DPD Group - GAP
Project
Bauor Radio
Hoart of England
Lloyds Bank
The Clolhworker
Foundation
Arnold Clark Aulomolive
The Blakmore
Foundation
125)
{651)
{984)
(251
138
1,000
789
1,000
543
894
500
1.332
640
8,340
(1,183)
{9,234)
(500)
(1,881)
549
1,500
{1.051)
(370)
449
340
710
2,005
690
8,675
1.405
{1,998)
(2,071)
(8,6751
2.125
744
{1 ,405)
25
869
25
935
1,000
(934)
110
(110)
27

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes lo the Flnanclal Stalements (contlnued)
Year ended 31 IAarch 2024
18. Analysis ol charltable funds (contlnu¢d}
The George Henry C
GHCC
Cheshlre Community
CCF
Leeds Buildino Society
The Percy Bilton Charily
The Othona Community
F/Flow The Morrison
SCVO Vlsion Grant
DHU Hoalth Care
The Gables
The Gables Revaluallon
2,000
(2,0001
5,000
1,000
500
{5,0001
{314)
{500)
686
323
5,000
323
1,276
(3,724)
449,949
374,872
852,742
(6.935)
443,014
374,872
823,784
20,587
(48,140)
(1,405)
19. Analysls of nat assets between funds
The transfer of £0 (2023: £1,405) from Restricted Funds to Unrestricted Funds relates to Lloyds
Bank, which has been redassifled by th8 Truslees as an unrestricted fund.
Unrestricted
Reslricted Tolal Funds
Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Credltors greater Ihan 1 year
Nei assels
197,370
222,918
(7,840)
811,348
2,690
1,008,718
225,608
(7,840)
412,448
814,038
1,226,486
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tanglbla Ilxed assets
Current assets
Credltors less than 1 year
Creditors greater than 1 year
Net assels
200,626
200,336
110,111)
{93,078)
297.773
817,886
5,898
1,018,512
206,234
{10,111)
{93,078)
1,121,557
823,784
20. Soclal houslng unlls
The following units ol Social Housing were held by the charilable company durlng the year..
2024
2023
Supported Houslng
51
51
28

Sandwell Homeless and Resettlement Project Limited
Company Limited by Guarantee
Notes to the Financlal Statements (conlinued)
Year ended 31 March 2024
21. Soc5al houslng renl arrears
There were no social housing rentals in arrears as at 31 March 2024
22. Recycled capltal granl lund
There wer6 no transactions during the year to be recognlsed within the Recycled Capital Grant
Fund.
23. DIsp08al proceeds fund
Thera were no transactions during ihe year lo be r8cognised wlthin the Disposal Proceeds Fund.
24. Analysls of changes In nel debl
Al
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and In hand
Oobl due wilhin one year
Debt due after one year
144,976
(1,304)
(93,078)
50,594
17,892
1,304
93,078
112,274
162,868
162,868
25. Oporatlng lease commltmenls
The total luture minimum lease payments under non-canc8llable operating leases are as follows..
2024
2023
Nol later than 1 year
Later than 1 year and not18ler than 5 years
1,493
1,625
3,205
3,118
3,118
6,323
26, Contlngencles
On 11 November 2019, Sandwcll Homeless and Reselllemenl Project Llmiled acquired the
freehold proporly known as The Gables lor £1. The Iransfer of the proporly also included the
liability of an oulstanding social housing grant 01 £552,846. The social housing grant is only
repayable il the specrflc conditions attached to the grant are breached.
27. Related partles
There were no relatad party transactions for the year end 31 March 2024.
29