Company Number 02280503
Charity Number 701265
PEASHOLME CHARITY
A company limited by guarantee and a registered charity no. 701265
ANNUAL REPORT AND FINANCIAL STATEMENTS
for the year ended 31 March 2023
HPH Chartered Accountants 54 Bootham YORK YO30 7XZ
PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The Directors (who are also the Trustees of the Charitable Company and whose details are shown in the reference and administrative section of this report) are pleased to present their Annual Report together with the Financial Statements of the Charitable Company for the year ended 31st March 2023.
The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019)
The Charitable Company is a Public Benefit Entity.
Objectives and Activities
Our Mission
Peasholme Charity has a mission to end homelessness, and a vision that everyone has access to the right help at the right time to prevent the escalation of crisis situations.
Peasholme Charity works with disadvantaged and socially excluded people, in particular those who are homeless or at risk of losing their home.
We address social exclusion and poverty by providing support services for people in or heading towards crisis – the Charitable Company defines ‘crisis’ as lacking security, shelter, or an ability to sustain oneself.
Aims and Objectives
Peasholme Charity's purpose was set out in its objects in the company's Articles of Memorandum of Association, as amended on 4 January 2022, and as amended on 10 June 2022:
“The relief of poverty, suffering and distress of persons who are in need (hereinafter called ‘the beneficiaries’) and in particular, but without prejudice to the generality of the foregoing, the relief of such of the beneficiaries who are homeless, rootless, or socially isolated for whatever reason in any manner which now is or may hereafter be deemed by law to be charitable.”
Our strategic aim is that people are empowered, realise their aspirations, and achieve their full potential.
Our specific aims are to:
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Reduce social exclusion, homelessness, and risk of becoming homeless.
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Enable people to obtain and maintain a tenancy.
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Enable people to engage in meaningful occupations, such as work, volunteering, education and training, and hobbies, or other recreational pursuits.
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Increase individual motivation, self-efficacy and self-esteem.
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Facilitate access to ‘specialist’ services that meet identified needs and personal aspirations.
Our aims fully reflect the purpose that the Charitable Company was set up to further.
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The focus of our work
Our main objectives and activities for the year was the provision of good quality community-based support services for disadvantaged and socially excluded people.
This was achieved through:
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the provision of a financial capability support and advice service.
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the provision of accessible community based drop-in activities delivering information and advice aiming to prevent the escalation of crisis situations.
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the provision of a one-to-one support service for people with complex needs who are either rough sleeping or insecurely housed.
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partnership working ensures a comprehensive range of support services are available for vulnerable and excluded people.
Our Services
My Money. My Life...
My Money. My Life…’. is a financial capability advice and support service that offers a pathway from financial instability and crisis to a more secure and stable position. The service offers a range of interventions from brief advice to community drop-ins and long term supported learning aiming to provide individuals with the skills to prevent the recurrence of crisis situations.
During the year 318 individuals / families were supported by the Financial Capability Coach, representing a 37% increase in the number of people accessing the service as compared to the previous year.
This is an ongoing growth trend which can be demonstrated by the graph below:
The increase in service uptake this year can be explained by a number of factors such as the aftermath of Covid 19 pandemic, the impact of the cost-of-living crisis. During this period face-to-face drop-in activities were restarted.
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
During the reporting period, 55 individuals were signed off the service having achieved the following positive outcomes:
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36% achieved outcomes under the heading ‘Managing Welfare Benefits’.
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27% achieved outcomes under the heading ‘Managing Utilities’.
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20% achieved outcomes under the heading ‘Control Cost of Living’.
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2% achieved outcomes under the heading ‘Crisis Work’.
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15% achieved outcomes under the heading ‘Accessing and positively engaging with specialist services’.
The Charitable Company is committed to adding resources to projects where they have peaked, and further resources are needed.
The CCG had noticed a need for effective financial capability advice and support for this specific group who were leaving hospital with high levels of debt, difficulty accessing benefits and housing related needs. The Charitable Company has successfully recruited into this new position at the beginning of the reporting period.
Next Steps – intensive support for rough sleepers
The service provides intensive outreach support for individuals with complex needs who are rough sleeping or insecurely housed; enabling people to move from crisis situations to a place of security.
The service supported 102 individuals, representing a 37.8% increase from the previous reporting period; the Charitable Company has maintained the increased resources within the housing team.
The service signed off 36 people during the reporting period:
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8 people were permanently housed.
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12 were housed by the local authority.
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10 threats to homelessness were resolved allowing people to stay in their own homes.
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2 individuals were supported to relocate to another area, either to find employment or return to previous accommodation and specialist support services.
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3 people were helped to access private rented accommodation.
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1 person was helped to relocate to another home in York through a private swap.
The growth trend for the Next Steps project over the last 3 years can be demonstrated as follows:
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The service works closely with other community partners, peer-led groups, and publicly funded services to ensure people experiencing or facing homelessness can access the right advice and support. The Housing Link Worker is present at Carecent, a breakfast club for vulnerable people, and conducts daily street walks to build good relationships with those experiencing rough sleeping.
The Charitable Company was approached by Cllr. Michael Pavlovic during the previous reporting period; he was looking for a charitable organisation with experience in the support of vulnerable people with complex needs to help establish a peer-led project in Tang Hall Park. He proposed using part of a derelict building for a woodworking project delivered by people with a history of homelessness. This proposal has now been actioned and the Charitable Company has successfully received funding for the project which is now beginning to realise its potential. The Charitable Company is also now in discussions with TCV regarding a joint partnership collaboration moving forward which will further expand the service.
Community Advice Service
Peasholme Charity and York Foodbank continue to work in partnership at weekly sessions; the Advice Worker and volunteers work together to identify people in crisis for whom additional support would have a positive impact on their situation.
The Charitable Company continued to offer a service in partnership with York Foodbank, providing supported in-person service delivery in venues. The service helped 498 individuals / families during the reporting period: representing a 140% increase in service delivery on the previous year.
The growth trend for the CAS project over the last 3 years can be demonstrated as follows:
The service continued to offer follow-up additional support activities with 256 individuals / families engaging with this element of service provision.
In total the Community Advice Worker delivered:
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692 support sessions
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242 referrals to specialist agencies, including in-house referrals for housing and financial capability support.
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£5,241.40 additional financial gain for people through charitable and local authority grant applications.
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The Board of Trustees are very thankful to York Foodbank Trustees, management, and volunteers for their continued support of this partnership project, which included developing a multi-year fundraising application from the Trussell Trust which, has been successful, and will secure the service until 2025.
Demand for high quality advice and support continues to grow within York Foodbank, the Charitable Company is committed to ensuring sufficient resources are allocated to this project to meet the demands of the cost-of living crisis.
The team developed assessment tools that helped decide whether ‘home visits or a remote service offer would best support people. The team used risk tools to consider safe working practices for delivery of services within community spaces. They used information sharing processes that allowed for the needs of those in crisis to be shared within the whole team.
This devolved and flexible decision-making model continues to support the team to offer highly effective good quality advice, information, and support for the increased volume of people approaching the organisation for help.
The Charitable Company increased front-line resources to meet the challenges of the pandemic; these increased resources will be maintained as the team continues to meet the challenges of the cost-of-living crisis.
The staff team work together to support each other’s wellbeing when dealing with people experiencing hardship and destitution; making effective use of staff training and external supervision.
How our activities deliver public benefit
Peasholme Charity’s principal activities are to provide services for disadvantaged and socially excluded people in York; to prevent those in danger of losing their tenancies, from becoming homeless and, for those who have become homeless, to help them settle back into accommodation in a sustainable way.
We have referred to the Charity Commission's guidance on public benefits when undertaking review and planning future activities.
Who uses and benefits from our services?
Peasholme Charity aims to be accessible to anyone in housing need and therefore does not operate any excluding eligibility criteria. Our services are primarily accessed by those presenting with multiple complex needs who need additional support to access mainstream services, including mental health and substance misuse services, and / or statutory services.
We aim to meet people at their point of need; facilitating self-referral and family signposting, home visits, working within community venues and specialist service providers to remain accessible, reduce barriers to engagement and reach those most in need.
Financial Review
The Charitable Company has been able to fulfil all its commitments and submits a satisfactory financial report.
The Charitable Company was funded through a mix of multiple year and small grants, local authority contracts and donations, this totalled £127,542.
Peasholme Charity is a small Charitable Company that relies on the support of local churches, organisations, and our individual donors, we are very grateful for their loyalty and continued support.
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Future Plans and Growth
The Charitable Company will secure sufficient funds to continue the development and delivery of current services.
The Charitable Company will review its business plan focusing on the following key areas:
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Continued development of the succession plan for the Charity Manager position.
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Funding – develop multiple year funding streams that can sustain existing services and develop new areas of work. This will include adding capacity within existing services so they can continue to meet increased levels of need resulting from the cost-of-living crisis.
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Recruit new Trustees with specific skills to strengthen the Board and its ability to meet their responsibilities.
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Continue to expand the team in line with the growth of current projects within the Charitable Company.
Reference and administrative details
A Registered Charity – number 701265
| A Registered Charity – number 701265 | A Registered Charity – number 701265 |
|---|---|
| A Company Limited by Guarantee – number 02280503 | |
| Register Name: | Peasholme Charity |
| Working Name: | Peasholme Charity |
| Registered Office: | 25, Micklegate YORK, YO1 6JH |
| Operational Address: | 25, Micklegate YORK, YO1 6JH |
| Directors and Trustees: | Mr. Richard Dixon (Chair) Mrs. Elain Hughes (Treasurer) Mr. Richard Parker Mr. Jonathon Morley Cllr Michael Pavlovic Kate Spencer–Resigned 12 July 2023 |
| Charity Manager: | Ray Brown |
| Bankers: | CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, WEST MALING, Kent ME19 4JQ |
| Independent Examiner: | Sarah Wearing, HPH Chartered Accountants, 54 Bootham YORK, YO30 7XZ |
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Structure, Governance and Management
The Charitable Company is limited by guarantee and itself and its officers are governed by the Memorandum and Articles of Association dated 26 July 1988. The Company received charitable status on 8 March 1989. In the event of the Company being wound up members are required to contribute an amount not exceeding £1.
Organisational Structure
The Directors and Trustees are known collectively as the Board and they meet a minimum of 6 times a year to administer the Charitable Company, setting and monitoring the strategic direction of the Charitable Company.
The Charity Manager and the Treasurer meet and monitor income and expenditure against the agreed annual budget, reporting to the Board.
The Charity Manager, Ray Brown, is delegated by the Trustees to manage the operations of the Charitable Company. The Charity Manager is responsible for ensuring that the organisation delivers the services specified in the contracts that the Charitable Company has entered and that performance indicators are met, including performance against budget.
The Charity Manager also attends Board meetings but has no voting rights. The Charity Manager is responsible for the day-to-day operational management of the Charitable Company's projects, including staff supervision and the continued development of skills and working practices in line with good practice.
Members of the Board
Members of the Board, who are directors for the purpose of company law and trustees for the purpose of Charity law, who served during the year and up to the date of this report are set out on page 6 of this report.
Recruitment and Appointment of Board
Under the requirements of the Memorandum and Articles of Association the Members of the Board are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. New Directors/Trustees are appointed by the Trustees.
Training of Directors/Trustees
All Trustees are expected to be familiar with the objectives of the Charitable Company, the practical work of the Charitable Company, the financial position of the Charitable Company and the obligations of Trustees.
Trustees are appointed based on their experience in other fields and their commitment to the objectives of the Charitable Company. New Trustees are familiarised with the work of the organisation by the Charity Manager and visits to the Charitable Company’s projects. They are also provided with information on their obligations as Charitable Company Trustees. All Trustees meet the expectations outlined above.
Risk Management
The Trustees have conducted a comprehensive risk management review; examining the principal areas of the Charitable Company’s operations and considering the major risks which may arise in the following areas:
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Financial Resilience
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People
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Reputation
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Governance
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Technology
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Partnerships and Competition
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
In their opinion the Charitable Company has established resources and reviewed systems, which under normal conditions should allow the risks identified by it to be mitigated to an acceptable level in its day-today operations.
Policies and procedures to ensure the health and safety of staff, volunteers and visitors to the Charitable Company’s premises have been reviewed and revised. Controls and procedures are in place for the authorisation of all transactions and projects.
The continued fulfilment of the objects of the Charitable Company remains dependent upon the continuation of an acceptable level of funding. Trustees have identified the risk to the Charitable Company in this area and are working with the Charity Manager to ensure sufficient funding levels are achieved.
Investment Policy
Under the Memorandum and Articles of Association, the Charitable Company has the power to make any investments which the Trustees see fit.
Peasholme Charity holds an instant access high interest account with its bankers to maximise its income.
Reserves Policy
The Board has reviewed its reserves policy and has examined the Charitable Company’s requirements for reserves in the light of the main risks to the organisation.
The Charitable Company aims to hold unrestricted reserves at 30% of income in order to achieve the following aims:
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to support the costs of winding down the Charitable Company, including meeting the costs of staff redundancies and contract liabilities.
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to ensure sufficient cash is available to meet the costs of running the Charitable Company, including managing any gaps between funding and activity.
There are sufficient unrestricted and designated funds to continue with its plans over the next year. The unrestricted reserve held at the year-end totalled £33,890. The Trustees consider this to be a satisfactory level in the short term.
Restricted funds totalling £17,837 were held at the end of the year. This is made up of funds to provide bond money for clients to secure tenancies, and to support service delivery over the coming years.
Responsibilities of the Board
Company and Charity law require the directors and trustees respectively to prepare financial statements which give a true and fair view of the Charitable Company's state of affairs at the end of the year and of its financial activities for that year.
In preparing those financial statements the directors and trustees are required to:
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select suitable accounting policies and then apply them consistently.
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make judgements and estimates that are reasonable and prudent.
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charitable Company will continue in operation.
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PEASHOLME CHARITY
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The Directors and Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and applicable Charity law.
They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Provision of Information to the Independent Examiner
So far as the Directors and Trustees are aware, there is no relevant information of which the Charitable Company's Independent Examiner is unaware and we have taken all the steps that we ought to have taken as Directors/Trustees to make ourselves aware of any relevant information and to establish that the Charitable Company's Independent Examiner is aware of that information.
Independent Examiner
S B Wearing of HPH, Chartered Accountants were re-appointed as the Charitable Company’s Independent Examiner during the year and have expressed their willingness to continue in that capacity.
Exemption
This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.
Approved by the Board on the 29 November 2023 and signed on its behalf by:
Mr Richard Dixon
Chair
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PEASHOLME CHARITY
I report to the Charitable Company’s trustees on my examination of the accounts of the Peasholme Charity for the year ended 31 March 2023.
This report is made solely to the Charitable Company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the Charitable Company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Charitable Company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the Charitable Company’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charitable Company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Wearing, FCA, DChA HPH, Chartered Accountants 54, Bootham, YORK, YO30 7XZ
29 November 2023
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PEASHOLME CHARITY
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Income Donations and legacies 3 Income from charitable activities 4 Investment income 5 Total income Expenditure Charitable activities 6 Total expenditure Net income/(expenditure) for the year 2 Transfers between funds Net movement in funds Funds brought forward at 1 April 2022 Funds carried forward at 31 March 2023 11 & 12 11 & 12 Notes |
Unrestricted Funds £ 5,851 - 562 6,413 6,279 6,279 134 (32,666) (32,532) 66,422 £ 33,890 |
Restricted Funds £ 3,441 117,688 - 121,129 151,645 |
Total 31 March 2023 £ 9,292 117,688 562 127,542 157,924 157,924 (30,382) - (30,382) 82,109 £ 51,727 |
Total 31 March 2022 £ 11,680 142,568 17 |
|---|---|---|---|---|
| 154,265 | ||||
| 151,647 | ||||
| 151,645 (30,516) 32,666 2,150 15,687 £ 17,837 |
151,647 | |||
| 2,618 - |
||||
| 2,618 79,491 |
||||
| £ 82,109 |
None of the Charitable Company's activities were acquired or discontinued during the accounting period. The Charitable Company has no recognised surpluses or deficits other than the surplus or deficit shown above.
The notes on pages 13 to 21 form part of these financial statements.
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PEASHOLME CHARITY
(Company Number: 02280503)
BALANCE SHEET AT 31 MARCH 2023
| Notes Fixed assets Tangible fixed assets 8 Debtors 9 Cash at bank and in hand Creditors : amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets Represented by: Unrestricted funds 11 Restricted funds 12 Total Funds 13 Current assets |
Unrestricted funds £ - - 225 34,559 34,784 894 33,890 33,890 £ 33,890 33,890 - £ 33,890 |
Restricted funds £ - - 16,421 28,273 44,694 26,857 17,837 17,837 £ 17,837 - 17,837 £ 17,837 |
Total 2023 £ - - 16,646 62,832 79,478 27,751 51,727 51,727 £ 51,727 33,890 17,837 £ 51,727 |
Total 2022 £ - |
|---|---|---|---|---|
| - 15,998 101,686 |
||||
| 117,684 | ||||
| 35,575 | ||||
| 82,109 | ||||
| 82,109 | ||||
| £ 82,109 | ||||
| 66,422 15,687 |
||||
| £ 82,109 |
For the year ended 31 March 2022, the Charitable Company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the Charitable Company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with section 476 of the Act.
The directors/trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Trustees on 29 November 2023 and signed on their behalf by:
……………………………………. …………………………………… Richard Dixon Elain Hughes Chair Trustee
The notes on pages 13 to 21 form part of these financial statements.
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PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Peasholme Charity 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 note(s). The financial statements are prepared in sterling which is the functional currency of the Charitable Company.
The Charitable Company is a private company limited by guarantee, incorporated in England. In the event of the Charitable Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charitable Company. The address of the registered office is: 25 Micklegate, York, YO1 6JH.
b) Preparation of the accounts on a going concern basis
The directors/trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the financial statements.
c) Income recognition
Income is recognised when the Charitable Company has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the Charitable Company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
d) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs of charitable activities include those costs incurred by the Charitable Company in the delivery of its activities and services for its beneficiaries. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis as set out in note 6.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Support costs are those functions that assist the work of the Charitable Company but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Charitable Company's activities. These costs have been allocated to expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
13
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES (continued)
e) Fund accounting
Restricted funds are funds which are used in accordance with specific restrictions imposed by donors.
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charitable Company.
Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purposes or projects.
f) Tangible fixed assets and depreciation
Tangible fixed assets are included in the financial statements at their historical cost (in the case of donated assets, at their fair value at the date of acquisition).
Depreciation of tangible fixed assets is provided at the following annual rates in order to write off each asset over its estimated useful life:
Office equipment, fixtures and fittings over 4 years Computer equipment over 3 years
g) Pension scheme
The Charitable Company pays defined contributions into personal pension plans for its employees. The assets of the schemes are held separately from those of the Charitable Company. Pension costs are charged in the Statement of Financial Activities and represent the contributions payable by the Charitable Company in the year.
h) Operating leases
Rentals payable under operating leases are charged on as straight line basis over the lease term.
i) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
j) Cash at bank and in hand
Cash at bank and cash 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.
k) Creditors and provisions
Creditors and provisions are recognised where the Charitable Company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
l) Financial instruments
The Charitable Company 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.
14
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
| 2. after charging: Independent Examiner's remuneration: Statutory accounts examination Unrestricted Restricted funds funds £ £ 3. Donations and covenants 5,851 3,441 DONATIONS AND LEGACIES Net income/expenditure for the year is stated NET INCOME/EXPENDITURE FOR THE YEAR |
2023 £ 2,650 Total 2023 £ 9,292 |
2022 £ 2,520 |
|---|---|---|
| Total 2022 £ 11,680 |
In 2022 income from donations and covenants amounting to £831 related to restricted funds.
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| INCOME FROM CHARITABLE ACTIVITIES | ||||
| Grants received | - | 117,688 | 117,688 | 142,568 |
4. INCOME FROM CHARITABLE ACTIVITIES
In 2022 income from charitable activities amounting to £110,568 related to restricted funds.
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| INVESTMENT INCOME | |||||
| Bank interest receivable | 562 | - | 562 | 17 |
5. INVESTMENT INCOME
In 2022 no investment income related to restricted funds.
15
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
| Basis of Unrestricted allocation funds £ £ 6. Costs directly allocated to activities Staff costs direct - Training and recruitment direct - Other property expenses direct - Other operating expenses direct - Support and governance costs allocated to activities Staff costs staff time 3,744 Training and recruitment usage - General office costs usage 1,440 Insurance usage 225 Service costs usage 285 Independent examination fees usage 371 Accountancy fees usage 199 Bank charges usage 15 £ 6,279 EXPENDITURE ON CHARITABLE ACTIVITIES |
Restricted funds £ 104,662 1,271 1,536 5,663 22,963 - 8,829 1,380 1,750 2,279 1,217 95 £ 151,645 |
Total 2023 £ 104,662 1,271 1,536 5,663 26,707 - 10,269 1,605 2,035 2,650 1,416 110 £ 157,924 |
Total 2022 £ 90,597 235 122 9,201 32,302 1,310 9,779 1,442 2,603 2,520 1,440 96 |
|---|---|---|---|
| £ 151,647 |
In 2022, expenditure on charitable activities amounting to £138,636 related to restricted funds.
7. EMPLOYEE INFORMATION
The aggregate payroll costs of the charity for the year were as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Salaries | 122,086 | 110,468 | ||
| Employer's National Insurance | 3,248 | 4,325 | ||
| Employer's pension contributions | 6,035 | 5,506 | ||
| Temporary staff | - | 2,600 | ||
| £ | 131,369 | £ | 122,899 |
The average number of employees during the year was 5 (2022 - 6). During the year no employees were paid emoluments amounting to £60,000 or more.
The key management personnel of the charity comprise the trustees. The total employee benefits of the key management personnel of the charity were £nil (2022 - £nil).
16
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
8. FIXED ASSETS
| Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for year Disposals At 31 March 2023 Net Book Value At 31 March 2023 At 31 March 2022 |
Unrestricted Restricted funds funds Total £ £ £ 1,410 33,411 34,821 - - - - - - 1,410 33,411 34,821 1,410 33,411 34,821 - - - - - - 1,410 33,411 34,821 £ - £ - £ - £ - £ - £ - Office equipment, fittings & furniture |
Unrestricted Restricted funds funds Total £ £ £ 1,410 33,411 34,821 - - - - - - 1,410 33,411 34,821 1,410 33,411 34,821 - - - - - - 1,410 33,411 34,821 £ - £ - £ - £ - £ - £ - Office equipment, fittings & furniture |
|---|---|---|
| 34,821 | ||
| 34,821 - - |
||
| 34,821 | ||
| £ - | ||
| £ - |
All Fixed Assets are used in the furtherance of the Charity's objects.
9. DEBTORS
| DEBTORS | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Prepayments | 85 | 524 | 609 | 2,233 | |
| Accrued income | 140 | 15,897 | 16,037 | 13,127 | |
| Other debtors | - | - | - | 638 | |
| £ | 225 | £ 16,421 | £ 16,646 | £ 15,998 |
17
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
10. CREDITORS, falling due within one year
| Unrestricted funds £ Trade creditors - Taxes and social security 355 Accrued expenditure 539 Deferred income - Other creditors - £ 894 In 2022, Creditors of £30,000 related to restricted funds. Deferred income - Monies received in advance Balance at 1 April 2022 Released in the period Deferred in the period Balance at 31 March 2023 11. UNRESTRICTED FUNDS Current year Fundraising £ Balance at 1 April 2022 - Income - Expenditure - Transfers between funds - Balance at 31 March 2023 £ - Comparative year Fundraising £ Balance at 1 April 2021 - Income - Expenditure - Transfers between funds - Balance at 31 March 2022 £ - |
Restricted Total funds 2023 £ £ 80 80 2,176 2,531 3,311 3,850 21,290 21,290 - - £ 26,857 £ 27,751 2023 £ 30,000 (30,000) 21,290 21,290 PRC General fund £ £ - 66,422 - 6,413 - (6,279) - (32,666) £ - £ 33,890 PRC General fund £ £ - 36,840 - 42,866 - (13,284) - - £ - £ 66,422 |
Total 2022 £ - 2,276 2,540 30,000 759 |
|---|---|---|
| £ 35,575 | ||
| 2022 £ 22,000 (22,000) 30,000 |
||
| 30,000 | ||
| Total £ 66,422 6,413 (6,279) (32,666) |
||
| £ 33,890 | ||
| Total £ 36,840 42,866 (13,284) - |
||
| £ 66,422 |
The General fund represents the free funds of the Charitable Company which are not designated for a particular purpose.
18
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
12. RESTRICTED FUNDS
| Current year Balance at 1 April 2022 Income Expenditure Transfers Balance at 31 March 2023 Comparative year Balance at 1 April 2021 Income Expenditure Balance at 31 March 2022 |
Restricted Donations £ 1,861 1,849 (3,332) - £ 378 Restricted Donations £ 2,134 5,038 (5,311) £ 1,861 |
Next Steps £ - 19,250 (39,767) 25,000 £ 4,483 Next Steps £ 16,430 18,750 (35,180) £ - |
Surviving Winter £ - 500 (508) 8 £ - Surviving Winter £ - - - £ - |
My Money. My Life… £ 7,999 47,443 (44,551) - £ 10,891 My Money. My Life… £ 2,203 39,239 (33,443) £ 7,999 |
Bond Money £ 538 - - - £ 538 Bond Money £ 538 - - £ 538 |
Hub Coordinator £ - 24,418 (24,394) - £ 24 Hub Coordinator £ 13,808 18,250 (32,058) £ - |
Hub Premises - - - - £ - Hub Premises £ 2,638 - (2,638) £ - |
Hull Road Community Project Advice Service £ £ - 4,799 1,000 25,569 (577) (37,982) - 7,614 £ 423 £ - Hull Road Community Project Advice Service £ £ - 3,947 - 29,102 - (28,250) £ - £ 4,799 |
Hardship Fund £ 490 1,100 (534) 44 £ 1,100 Hardship Fund £ 953 1,020 (1,483) £ 490 |
Total £ 15,687 121,129 (151,645) |
|---|---|---|---|---|---|---|---|---|---|---|
| 32,666 £ 17,837 |
||||||||||
| Total £ 42,651 111,399 (138,363) |
||||||||||
| £ 15,687 |
Restricted donations
Smaller donations expressly given for a defined purpose.
Next Steps
Funds for outreach service for rough sleepers.
Surviving Winter
Providing financial and practical support to clients over the winter months.
Hub Coordinator and Hub Premises
Funds for the delivery of the Homeless Hub project.
Hull Road Project
Provides an opportunity for multiple excluded people to engage in meaningful activity in the form of woodworking.
Community Advice Service
Funds for the delivery of support activities via the Community Advice Service.
My Money. My Life…
Funds for the delivery of a financial capability supported learning project.
Hardship Fund
Providing relief to people impacted by poverty, including food, utilities and other
Bond Money
Money to enable deposits to be paid to landlords in order to secure tenancies for clients.
19
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 31 March 2023 General fund Restricted funds 31 March 2022 General fund Restricted funds |
Tangible fixed assets £ - - £ - Tangible fixed assets £ - - £ - |
Current assets £ 34,784 44,694 £ 79,478 Current assets £ 71,997 45,687 £ 117,684 |
Current liabilities £ (894) (26,857) £ (27,751) Current liabilities £ (5,575) (30,000) £ (35,575) |
Total £ 33,890 17,837 |
|---|---|---|---|---|
| £ 51,727 | ||||
| Total £ 66,422 15,687 |
||||
| £ 82,109 |
14. PENSION ARRANGEMENTS
The Charity operates a defined money purchase scheme for the benefit of specific employees.
15. TRANSACTIONS WITH TRUSTEES, CONNECTED PERSONS AND RELATED PARTIES
The Directors/Trustees of the Charity do not receive any remuneration or benefits by virtue of being a Director/Trustee and were not reimbursed for any expenses (2022 - £nil).
There were no related party transactions in the year (2022 - £nil).
16. TAXATION
As a registered charity, Peasholme Charity is exempt from the tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Company.
20
PEASHOLME CHARITY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
17. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
| Income Donations and legacies Income from charitable activities Investment income Total income Expenditure Charitable activities Total expenditure Net income/(expenditure)for the year Transfers between funds Net movement in funds Funds brought forward at 1 April 2021 Funds carried forward at 31 March 2022 |
Unrestricted Funds £ 10,849 32,000 17 42,866 13,284 13,284 29,582 - 29,582 36,840 £ 66,422 |
Restricted Funds £ 831 110,568 - 111,399 138,363 |
Total 31 March 2022 £ 11,680 142,568 17 154,265 151,647 151,647 2,618 - 2,618 79,491 £ 82,109 |
Total 31 March 2021 £ 7,296 141,988 46 |
|---|---|---|---|---|
| 149,330 | ||||
| 137,900 | ||||
| 138,363 (26,964) - (26,964) 42,651 £ 15,687 |
137,900 | |||
| 11,430 - |
||||
| 11,430 68,061 |
||||
| £ 79,491 |
21