**Annual Report and Financial Statements** Year ended 31 March 2024
1
## **Patrons, trustees and advisors**
**Patrons** The Right Reverend the Bishop of Manchester, Dr. David Walker Susie Briscoe David Cade Ian Hay Davison CBE William Guthrie The Right Reverend Michael Turnbull CBE The Ven David Woodhouse
**Trustee directors** Elizabeth Wilson (Chair) Christopher Daws (Treasurer) Ven Simon Baker Andrew Deutsch John Glenton Trevor Morris Sally Nichols David Robinson Elizabeth Toher Miriam Morris **Executive director and company secretary**
Canopi **Registered and principal office** 7-14 Great Dover Street London, SE1 4YR 02453957 (England and Wales) **Company registration** 802801 (England and Wales) **Charity registration** Buzzacott LLP **Independent examiner** 130 Wood Street London, EC2V 6DL Barclays Bank plc **Principal bankers** PO Box 294 Peterborough, PE1 1EZ
2
## **Introduction**
This financial year (2023-24) has been a good one, in terms of funds raised, new partnerships established, and most importantly in terms of the number of grants we gave to people who are homeless. In this report we give examples of some of these successes.
In the previous financial year (2022-23) we had increased our grant giving to meet the needs created by the cost-of-living crisis. But our income was greatly reduced, as our supporters were affected by the same financial hardships as our beneficiaries.
In January 2023 the board of trustees had to make some difficult decisions, and we started this financial year with a smaller team and a new fundraising strategy.
Despite the continuing cost-of-living crisis, we have seen an increase in income from all types of fundraising. And we are really pleased that this has enabled us to maintain the amount of grants given to people who are homeless over the year.
Liz Wilson, Chair of trustees
Our work is now more important than ever, as we are one of very few organisations that give personal grants to people who have been homeless, for whatever they need to rebuild their lives.
Although our grants are small, they make a massive difference to the lives of the people who receive them, as is demonstrated through the extracts from grant applications which are spread throughout this report.
Thank you for your interest in our work. It is only thanks to the generosity of our supporters that we are able to continue helping people to rebuild their lives after the trauma of being homeless.
## Elizabeth Wilson
Chair of trustees
## **Contents**
- 2 Patrons, trustees and advisors
- 14 Independent examiner’s report
- 3 Introduction
- 15 Statement of financial activities
- 4 Our past, present and future
- 16 Balance sheet
- 6 Our grants
- 17 Cash flow
- 8 Our partners
- 18 Principal accounting policies
- 9 The people we help
- 21 Notes to the financial statements
- 10 Governance
- 30 The schemes we work with
- 13 Financial review
- 31 Organisations that have supported us
3
## **Our past, present and future**
## **Our History**
Our roots go back to 1880 when the Rev’d Wilson Carlile began to provide shelter for homeless people on the Thames Embankment. In 1882 Carlile set up the Church Army to provide accommodation and job opportunities to homeless people as part of its wider mission.
## **Church Army Housing (1924 – 1977)**
Carlisle set up Church Army Housing in 1924 to formalise and expand the accommodation provided by the Church Army. During World War II, Church Army Housing provided shelter for 300,000 people.
## **Church Housing Association (1977 – 1985)**
Housing provision was separated from the other work of the Church Army and the Church Housing Association was set up in 1977.
Wilson Carlile, _1847—1942_
_Wilson Carlile had been a successful businessman but lost his money in the 1873 depression. He suffered a mental and physical collapse, and while confined to bedrest he experienced the overwhelming love of God and felt called to serve the poor and excluded._
_He became an ordained priest in the Church of England and trained an ‘army’ of volunteers to reach out to ordinary working people; particularly those who were struggling with poverty, unemployment, ill-health, and alcohol-dependence._
## **English Churches Housing Group (ECHG) (1985 – 2006)**
ECHG was created through the merger of Church Housing Association and the Baptist Housing Association in 1985. It merged with Riverside Housing Group in 2006, and this is the basis of our continuing partnership with Riverside.
## **Church Housing Trust (1989 – 2018)**
We were incorporated as a separate charity from ECHG in 1989 to make it easier to raise voluntary donations.
## **Church Homeless Trust (2018 -2023)**
In 2018 we changed our name from ‘Housing’ to ‘Homeless’ to make what we do clear.
## **Church Homeless Charity (2023 onwards)**
In 2023 we changed our name from ‘Trust’ to ‘Charity’ to show that we are an independent charity without any source of income except the generosity of our supporters.
## **Our purpose**
Although our name and circumstances have changed over the past century, our purpose has not. Indeed we still support people in hostels built by Wilson Carlile - see photos bottom left and right on this spread.
We give personal grants to people who are homeless to help them to rebuild their lives, regardless of their faith, background, identity or circumstances. We believe in the unconditional love of God for all people, and the unique contribution every individual has to make, no matter how difficult their current circumstance may be.
_Women in a Church Army shelter on the site of Queen Mary’s (see opposite)_
We know the names and circumstances of every person we give a grant to. We have included extracts from some of the applications we have approved in the past year, throughout this report. (We have changed their names to protect anonymity.)
4
## **Current trends**
Most of us have been adversely affected by the cost-of-living crisis over the past year; but for people who were already struggling this continuing hardship has pushed them over the edge.
We have seen an increase in applications from people who would never have imagined becoming homeless a few years ago, many due to losing a job through ill-health. We’ve also given more grants to prevent people becoming homeless as they struggle to pay their rent and bills.
Over the winter, we helped around a hundred asylum seekers who were evicted from their Home Office accommodation with a week’s notice on receipt of their right to remain, and were rough sleeping in the cold.
We’ve also had more applications from people who have fled their homes due to abuse by neighbours, or being cuckooed—which is when a gang takes over the property for drugs or other illegal activities.
The schemes that we work with have had their government funding cut, and are no longer able to provide activities for residents, so we are continuing to fund social and therapeutic activities which are vital to help people to rebuild their confidence and move on.
We have also started to work with some new specialist services for female prison leavers, and non-statutory supported accommodation to help former rough sleepers into work.
We have received significant funding from the Veterans’ Foundation to help ex-service personnel into work. It is very difficult to work while in supported accommodation because you immediately become responsible for paying for full support costs which can be several hundred pounds a week. This means that veterans are unable to take work and get trapped in hostels as they can’t save for a rent deposit.
Issa, a young refugee:
_I came to the UK because of the terrible effects of the war in Syria. When I got refugee status I was evicted from my accommodation and as no-one could help me, I had to sleep on the street. After a while I got a place in a night shelter run by a church. They helped me find a room to rent, and get a place at college._
_I would like a small fridge so I can buy and store food. I am studying, so this will help me save money and time and help me settle into my new life. Thank you so much for your help._
**We gave him £125 for a fridge.**
The Veterans’ Foundation funding will help veterans, but this problem applies to all residents in supported accommodation, and we will be approaching other funders to help these other people.
## **The coming year**
Thanks to our healthy income this year we have been able to recruit to the two fundraising posts which we held vacant for a year in order to save costs.
We have also moved to fully remote working to save on office costs. We will still need a base for our post and to process donations, and we will be moving to Queen Mary’s Hostel. Pictured on the right, this is a hostel for women, built by Wilson Carlile, and opened by King George and Queen Mary in 1926.
We expect to take on supporting another 25 schemes in the London area this year, as our partners Riverside have merged with One Housing Group, who are a significant provider of homelessness services.
_Current residents at Queen Mary’s hostel, set up by Wilson Carlile_
5
## **Our grants**
We are now one of very few charities that give personal support grants to people who are homeless; and the need is greater than ever. Very often people stay stuck on the street or in a hostel because they simply don’t have the money for ID papers, or a rent deposit. Our grants make a real difference to the lives of people who are homeless.
Through our online application process, we can approve and disburse all funds within a week, meaning that people get the money they so desperately need quickly.
## **Social and therapeutic activities**
These grants are for group activities within the schemes we support which at the most basic level give residents something to do during the day, and in some cases help them resist going on to the street to beg and buy drugs.
These activities also help to build confidence, social skills and relationships.
They include breakfast clubs, gardening projects, music therapy, trips to the seaside, film clubs, book clubs, hiking, creative writing, etc.
## **Health and wellbeing**
## **Personal grants**
These grants are for any health related needs, from trips to the dentist to gym membership: from boxing lessons to one-to one counselling.
These are the most flexible of our grants to be used for whatever an individual needs to help them to rebuild their lives.
When first coming off the street this may be clothing, toiletries and some form of photo ID.
Later on in their journey they may need money towards training, education, or volunteering opportunities.
We provide grants for people to pursue their hobbies; funding art materials, musical instruments, cameras, etc. to help build self-esteem and a sense of purpose.
We also provide grants to re-connect people with their estranged children or parents. And sadly sometimes we fund clothing and transport to attend the funeral of a family member or partner.
6
## **Digital inclusion**
Nowadays it is impossible to function in our society without access to the internet. However, the cost of a smartphone, and the ongoing data costs, are beyond the reach of many of the people we help. This cuts them off from family and friends, benefits, health care, training and work opportunities.
We give grants for basic smartphones, or laptops if people need one for education, training or work.
This year we are very grateful to Vodafone who donated more than 500 SIM cards with six months of free data.
## **A suitable and secure home**
The ultimate goal for most of the people we help is to move on from the schemes we support and live independently in a home of their own.
We give grants for rent deposits, rent in advance, utilities and removal costs, so that people are able to afford to move on.
We also give grants for furniture, furnishings, white goods, etc. and for decorating, so that they can make their new accommodation into a home.
7
## **Our Partners**
We distribute our grants through our partnerships with 105 schemes throughout England that are registered with us. This means that we are sure that our grants are going to people who really need our help, and that the money will be spent correctly. We also know that our beneficiaries are receiving the other support that they need to rebuild their lives.
## Kyle, an 18 year old :
_I was in care a lot of the time growing up, and then put in a B&B, where all my stuff was stolen. I tried to stay with my dad, but he was violent to me. I ended up in a hostel, where they really helped me, and found me a 1 bed flat of my own._
_I ‘m on the lowest benefits and I worry about the costs of living alone as I have no family to help me. I would like some curtains and blinds so that I can settle in my new home and make a positive new start to my life._
**We gave him £170 for curtains and blinds.**
This map shows the approximate number of people we have helped in each part of England. These figures include people participating in group activities which we fund, as well as those receiving individual support grants.
**In total we helped nearly 3,000 people this year.**
8
## **The people we help**
Anybody can end up homeless as a result of a job loss, addiction, relationship breakdown, domestic abuse, criminal conviction, bereavement or health crisis.
Some people start life without a safe and secure home, and are brought up in the care system.
We help all sorts of people who are homeless for all sorts of reasons:
**Veterans** - some find it hard to adjust when they leave the Armed Forces, with some veterans suffering from physical injury or PTSD. We support the residents in three specialist schemes for homeless veterans.
**Survivors of domestic abuse** - often have to leave behind their home and belongings, and flee to a shelter in a place where they have no support network. We support seven schemes for women and children fleeing abuse.
**Young people and care leavers -** children brought up in care often become homeless at the age of 18 as they have no family to rely on. And an increasing number of young people are becoming homeless due to family breakdown and overcrowding. We support 12 schemes which provide accommodation and support for young people.
**Prison leavers -** often people lose their homes (and families) while in prison. We support two initiatives for people when they leave prison.
**Asylum seekers -** cannot work or receive benefits while their claim is being considered, and ironically often become homeless as soon as they receive refugee status. We support three specialist services for asylum seekers, and many of the schemes we work with support refugees.
**Young families** - teenagers who become pregnant are often asked to leave the family home. We support six schemes providing accommodation and support for young families.
**Mental and physical health problems** - can lead to job loss, relationship breakdown, addiction, poverty and eventually homelessness. Most of the people we help have some sort of health problem, as a cause or a result of being homeless.
**LGBTQ+ people -** often experience discrimination; some are asked to leave the family home, others are threatened and forced to leave their homes. We support LGBTQ+ people in two specialist schemes.
**Cost of living crisis** - an increasing number of people are becoming homeless simply because they cannot pay their mortgage, or their rent. These are often families where one or both parents are in work.
**Entrenched rough sleepers -** can be the hardest to help. After years on the streets it is hard to come indoors and live in a hostel with others. We support shelters that help rough sleepers through the winter.
**For a full list of the schemes we support see page 30.**
Mike, a middle-aged man:
_I became homeless after working in London and developing a cocaine addiction. I lost the support from family members and was left street homeless._
_I’ve been living at an Emmaus scheme and have been substance-free for six months. I’m slowly building back up relationships with some family members, including my children._
_I hope to have a tenancy of my own, with the safety net of support, and to return to work in the near future, as I have many qualifications._
_I feel giving somebody a chance to rebuild their life and their family relationships is a huge positive. I’ve always turned to substances in the past, and this is the first time I’m putting measures in place to prevent the never-ending roller coaster and move on._
**We gave him £175 for a microwave and cooking utensils.**
9
## **Governance**
## **Trustee Directors**
The trustees are directors of the charitable company for the purposes of the Companies Act 2006. New trustees are appointed by those trustees who are already in office at the time with up to one-third being nominated by Riverside Care and Support. At any one time there must be a minimum of three trustees and a maximum of 15. No trustee had any beneficial interest in any contract with Church Homeless Charity during the year.
The trustees from 1st April 2023 up to the date of this report were as follows:
**Elizabeth Wilson (chair)** leads Liz Wilson Consultancy: a coaching and leadership development organisation whose aim is to help organisations who want to make a difference. She also works with young people, helping them build resilience and has been a school governor and Prince’s Trust mentor. She is also on the Board of Mae and Mitchell, a not for profit organisation providing bespoke social care in the community.
## Richard, a prison leaver:
_I suffer with depression and had a breakdown in a relationship and was asked to leave the property._
_I then lost my job as I had no fixed abode and had to steal food to eat. This resulted in me going to prison._
_When I came out of prison, I was rough sleeping again and tried to take my own life because I was so depressed. I ended up with multiple breaks and fractures, and a long time in hospital._
_I’m now in supported accommodation, and I want to rebuild my life. I need some photo ID so that I can begin to apply for benefits, housing and work._
_I don’t want to end up rough sleeping again, so I would really value your help._
**We gave him £50 for a provisional driving licence.**
**Ven Simon Baker** was an ordained priest in the Church of England in the early 1980’s. Since then he has served in a number of parishes across the country and also had training posts. His most recent appointment was as Archdeacon of Lichfield and Rector of St Michael Lichfield and St John Wall. Simon is now retired and lives in Somerset.
**Christopher Daws** is a chartered accountant and a member of the Chartered Institute of Taxation and the Association of Corporate Treasurers. He has been financial and deputy secretary of the Church Commissioners for England, a trustee of Action for Children and chairman of their pension fund; a member of the Board for Actuarial Standards; and the independent member of the audit committee of the Charity Commission. Currently he is a trustee of The Share Foundation and Friends of Malmesbury Abbey.
**Andrew Deutsch** has had a successful career in the food industry having had leading roles with food manufacturers including Northern Foods, Hain Daniels and Bernard Matthews. He has extensive experience of both operations and relationship management. He was also a committee member of Riverside Care and Support from 2016 until 2022 and is a member of The Chorus Educational Trust.
**John Glenton (retired October 2024)** is the Executive Director of Care and Support at The Riverside Group. John shares a long history with Church Homeless Charity as his career working within the homeless sector began in 1987 with Church Housing Association. He has held various front line and management roles over the years covering business development, strategy, and operations. John is currently the chair of the National Housing Federation Homelessness Steering Group, which lobbies the Government to help end homelessness.
**Trevor Morris** is a former Area Manager at Riverside Care and Support who retired in May 2018. Prior to working at Riverside he served in the Armed Forces. Trevor is passionate about helping homeless veterans with their housing needs. While at Riverside he co-founded the Single Persons Accommodation Centre for the Ex Services (SPACES). Trevor developed a further five services for homeless veterans across the country and, at the time of his retirement, these services had helped 16,000 veterans.
**Sally Nichols** Assistant Director of Operations Riverside, Sally has worked in care and supported housing services for 25 years, having extensive experience of managing a range of varied services and working with a diverse range of customers. Sally also has a specialism around developing Extra Care housing, and is the nominated lead for Care Quality Commission for the Riverside Group.
**David Robinson (appointed June 2024)** has worked in care and support services for 15 years. Starting out as a support worker for St Mungo’s, he has worked on innovative projects such as No Second Night Out and the European Ending Homelessness Campaign. As Assistant Director of Operations Dave is responsible for all Riverside’s supported housing, floating support and retirement living services. He has been a trustee for a learning disabilities charity and sits on the Board of Whitehaven Foyer.
**Elizabeth Toher (retired October 2024)** was a Senior Programme Manager and Director and has worked across many organisations including The Cooperative Bank, Lloyds Banking Group and KPMG. She is experienced in managing complex change programmes and developing business information systems in the finance industry and public sector.
10
## **Statement of trustees’ responsibilities**
The trustees (who are also directors of Church Homeless Charity for the purposes of company law) are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in 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 United Kingdom and Republic of Ireland (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the trustees is aware, there is no relevant audit information of which the charitable company’s auditor is unaware and each trustee has taken all steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of S418 of the Companies Act 2006.
## **Structure and management reporting**
The overall responsibility for the charity lies with the trustees who have delegated the day to day management of the charity to the executive director. The trustees meet four times a year to review progress, discuss policy issues and agree strategy. The chair meets with the executive director every week to discuss strategic and operational matters.
A group of trustees undertakes an annual appraisal of the Executive Director, and sets targets for the coming year; the remuneration committee consisting of three trustees recommends the pay for all members of staff to the trustees.
## **Key management personnel**
The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees and the executive director of the charity. The remuneration of the executive director is agreed annually by the trustees and is benchmarked against the sector.
## **Management**
The executive director, Miriam Morris, is also company secretary. Miriam is supported by a digital marketing manager, fundraising manager and finance and data manager, and a part-time management accountant.
Church Homeless Charity is an equal opportunities employer and applies objective criteria to assess merit. We employ the people we consider to be best for the job regardless of age, race, colour, nationality, religion, ethnic or national origin, gender, marital status, sexual orientation and disability.
Jennie, a student:
_I lived with my boyfriend, but he was violent and abusive, so I left. I was sofa surfing for a while but ran out of places to stay and became homeless and came to the youth foyer. I have continued my studies and been working part time._
_Due to my hours fluctuating at work my housing benefit has also fluctuated and I often don’t have enough to pay the rent top-ups I need to pay because I am in supported accommodation. I have accrued substantial arrears and am at risk of becoming homeless again if I cannot reduce them._
_If you can help with the cost of essentials such as food, clothing and transport, I will be able to pay some of my arrears from my wages. This will enable me to finish my degree._
**We gave her £175 for clothing, food and transport.**
11
## **Fundraising and data protection policies**
Church Homeless Charity takes great care over its communications with supporters, making sure that the frequency and tone of our communications do not put pressure on supporters, but at the same time keep them informed and engaged. We ensure that supporters can change the way we communicate with them at any time.
We are registered with the Fundraising Regulator and adhere to the Code of Fundraising Practice. We manage our own fundraising activities and do not employ the services of any third-party ‘professional fundraisers’. We have processes for responding to complaints regarding our fundraising activities. Over the past year we have received no complaints about our fundraising activities.
We apply best practice to protect supporters’ data. We never sell data or swap data with other organisations. We regularly monitor and update our data protection policy to ensure that we are compliant with regulations.
## **Risk management**
Church Homeless Charity has a comprehensive register of risks and mitigating actions, which we review at each board meeting.
The main risk facing us, as with most organisations, is the current cost-of-living crisis which is being experienced by the people we help, many of our supporters, and indeed our team.
Below is an abbreviated version of our risk matrix, outlining the mitigating actions we have taken:
Maryam, a mother:
_I came to the UK with my husband, and we have a 3-year-old child. My husband was violent, and the police advised me to leave him. I left in a hurry with no clothing or essentials._
_For two months I am sleeping with my son on a sofa in my friend’s studio flat. I am here on a spouse’s visa so have no access to government help, and am borrowing money from my friends for daily living needs._
_I would be very grateful for help to pay my debts and feed my son while my immigration status is sorted out. Thank you for considering my application._
|**Risks**|**Mitigations**|
|---|---|
|The continuing cost-of-living crisis
makes it harder for our supporters to
make donations|Broadening our supporter base
Encouraging smaller regular donations|
|We have very loyal supporters, some
have been giving to us for decades,
but they tend to be quite elderly|Online and in-person campaigns to
recruit new younger donors|
|There are a lot of charities competing
for funds in the same pool of people,
many of whom have more resources|Imaginative campaigns which reach
new people
Best use of content for search engine
optimisation|
|We are a very small team, and there-
fore stretched quite thinly|We are familiar with each others’ tasks
and share the workload
We have automated some of our
processes.|
The trustees have assessed the major risks to which the charity is exposed, and believe that they have established effective systems to mitigate those risks.
_**We gave her £175 for food.**_
12
## **Financial review**
## **Results for the year**
Total income for the year amounted to £621,120 compared with the previous year’s income of £388,077.
Unrestricted income increased from £367,191 in 2023 to £544,779 in 2024.
Our restricted income increased from £20,886 in 2023 to £76,341 in 2024.
Total expenditure for the year amounted to £560,625 (2023: £661,626). During the year, we spent £438,650 on charitable activities (2023: £537,241) and £121,975 on raising funds (2023: £124,385).
After taking account of investment gains and losses and actuarial gains and losses the charity’s funds overall increased by £86,824 (2023: decreased by £279,899).
## **Reserves policy and financial position**
The trustees believe that the charity is a going concern, due to our level of reserves and the continuing generosity of our supporters, in particular our regular givers.
On 31 March 2024, we held £162,552 of restricted reserves (2023: £148,499). These reserves are restricted in that they arise from specific bequests and grants which have not yet been expended. We will disburse such funds in accordance with the conditions of the bequest or grant in response to demand.
We also held an unrestricted general fund of £393,910 (2023: £338,139).
The value of the defined pension scheme liability at 31 March 2024 was £119,000 (2023: £136,000). This liability for our share of the deficit does not fall due immediately, and the expectation is that it will be met annually from income. Therefore, the pension provision is excluded in determining our free reserves which also exclude the net book value of tangible assets and stand at a total of £391,491 (2023: £333,539). This equates to 18 months of general fund expenditure excluding grants.
The trustees revised the charity’s reserves policy in 2016 from a target level of six months’ general fund expenditure, excluding grants, to eight months’. This is to make some provision against future pension deficit contributions, and the trustees are happy with the reserves position at 31 March 2024.
## David, a veteran:
_I have been homeless for five years now and have just recently arrived here at supported housing for veterans._
_I have been heavily dependent on alcohol which put a strain on my relationships—both family and friends. These networks have now been damaged and I need help to build their trust back._
_Due to homelessness, I have lost all my documents, and I am unable to apply for any without some sort of ID. I can apply for a Citizenship card if I have proof of birth. Therefore I am hoping that this small amount I'm asking for will enable that._
_I am just starting out on sorting my life out and rebuilding my relationships ._
**We gave him £12.50 for a birth certificate.**
## **Investment performance**
Our aim is to maximise the total return (capital appreciation and income combined) within an acceptable level of risk while ensuring that the projected needs for cash can be met. We invest in ethical funds which are in keeping with the values of Church Homeless Charity.
Trustees’ report signed for and on behalf of the trustees:
## Elizabeth Wilson
Elizabeth Wilson
Chair of trustees
Date: 2 October 2024
13
## **Independent examiner’s report**
## **to the trustees of Church Homeless Charity**
I report to the charity trustees on my examination of the financial statements of the charitable company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the charitable 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 charity’s financial statements 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 my examination giving me cause to believe:
- accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
- the financial statements have not been prepared in accordance with the methods and principles of the for “Accounting and Reporting by Charities: the 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).”
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.
## G.Miah
Gumayel Miah, ACA
Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL
Date: 2 October 2024
14
## **Statement of financial activities-Year to 31 March 2024**
|
Notes
**Income from:**
Donations, grants and
legacies
1
Investment income and
interest receivable
2
**Total income**
**Expenditure on:**
Raising funds
3
Charitable activities
Assisting homeless people and
those in housing need
4
**Total expenditure**
**Net income (expenditure) before**
**investment gains (losses)**
Net gains (losses) on investment
assets
12
**Net income (expenditure)**
7
**Other recognised**
**gains (losses)**
Actuarial gains (losses)
20
**Net movement in funds**
18
**Reconciliation of funds:**
Funds brought forwardat
1 April 2023
Funds carried forward at
31 March 2024
19
|**Unrestricted**
**funds**
**£**
**529,677**
**15,102**
**544,779**
**121,975**
**376,362**
**498,337**
**46,442**
**35,329**
**81,771**
**(9,000)**
**72,771**
**202,139**
**274,910**
|**Restricted**
**funds**
**£**
**76,083**
**258**
**76,341**
—
**62,288**
**62,288**
**14,053**
—
**14,053**
—
**14,053**
**148,499**
**162,552**
|**Total**
**2024**
**£**
**605,760**
**15,360**
**621,120**
**121,975**
**438,650**
**560,625**
**60,495**
**35,329**
**95,824**
**(9,000)**
**86,824**
**350,638**
**437,462**
|Unrestricted
funds
£
353,789
13,402
367,191
124,385
445,160
569,545
(202,354)
(15,350)
(217,704)
9,000
(208,704)
410,843
202,139
|Restricted
funds
£
20,886
—
20,886
—
92,081
92,081
(71,195)
—
(71,195)
—
(71,195)
219,694
148,499
|Total
2023
£|
|---|---|---|---|---|---|---|
|||||||
374,675
13.402|
|||||||388,077|
|||||||
124,385
537,241|
|||||||661,626|
|||||||(273,549)
(15,350)|
|||||||
(288,899)
9,000|
|||||||
(279,899)
630,537|
|||||||
350,638|
## **Continuing activities**
All the charity’s activities derived from continuing operations during the above two financial periods.
15
## **Balance sheet 31 March 2024**
|
Notes
**Fixed assets**
Tangible assets
11
Investments
12
**Current assets**
Debtors
13
Short term deposits
Cash at bank and in hand
Interest bearing accounts
Other accounts and cash
**Creditors**: amounts falling
due within one year
14
**Net current assets**
Total assetslesscurrent
liabilities
Provision for liabilities
15/20
**Total net assets**
**Funds and reserves**
18
**Income funds**
Restricted funds
16
Unrestricted funds
General fund
Pension reserve fund
20
|**2024**
**£**
**18,501**
**500**
**138,238**
**28,323**
**185,562**
**(57,163)**
**393,910**
**(119,000)**
|**2024**
**£**
**2,419**
**425,644**
**428,063**
**128,399**
**556,462**
**(119,000)**
**437,462**
**162,552**
**274,910**
**437,462**|2023
£
17,563
500
43,628
67,449
129,140
(37,417)
338,139
(136,000)
|2023
£|
|---|---|---|---|---|
|||||
4,600
390,315|
|||||394,915
91,723|
|||||
486,638
(136,000)|
|||||350,638|
|||||
148,499
202,139|
|||||350,638|
For the year ended 31 March 2024, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the trustees of Church Homeless Charity, company registration number 02453957 (England and Wales), and signed on their behalf by:
## Elizabeth Wilson
Elizabeth Wilson, chair of trustees
2 October 2024
16
## **Statement of cash flows - Year to 31 March 2024**
|
Notes
**Cash flows from operating activities**
Net cash provided (used in) operating activities
A
**Cash flows from investing activities**
Investment income and interest received
Proceeds from the sale of investments
Purchase of investments
Purchase of tangible fixed assets
**Net cash provided by (used in) investing activities**
**Increase (decrease) in cash and cash equivalents in the year**
**Cash and cash equivalentsat1 April 2023**
B
**Cash and cash equivalentsat 31 March 2024**
B|**2024**
**£**
**40,382**
**15,102**
—
—
—
**15,102**
**55,484**
**111,577**
**167,061**|2023
£
(260,664)
13,402
—
—
(1,992)
11,410
(249,254)
360,831
111,577|
|---|---|---|
**Notes to the statement of cash flows for the year to 31 March 2024**
## **A Reconciliation of net movement in funds to net cash provided by (used in) operating activities**
|
**Net movement in funds (as per the statement of financial activities)**
**Adjustments for**
Depreciation charge
Investment income and interest receivable
(Gains) losses on investments
(Increase) decrease in debtors
Increase (decrease) increase in creditors
(Decrease) increase in pension provision
**Net cash provided by (used in) operating activities**
|**2024**
**£**
**86,824**
**2,180**
**(15,102)**
**(35,329)**
**(937)**
**19,746**
**(17,000)**
**40,382**|2023
£|
|---|---|---|
|||(279,899)
2,725
(13,402)
15,350
52,578
(2,016)
(36,000)|
|||(260,664)|
## **B Cash and cash equivalents**
|
Short term deposits
Cash at bank and in hand:
Interest bearing accounts
Other accounts and cash
|2023
£
500
43,628
67,449
111,577|Cash flow
£
—
94,610
(39,126)
55,484|**2024**
**£**|
|---|---|---|---|
||||**500**
**138,238**
**28,323**
|
||||**167,061**|
17
## **Principal accounting policies 31 March 2024**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.
## **Basis of preparation**
These financial statements have been prepared for the year to 31 March 2024 with comparative information provided for the year to 31 March 2023.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes which follow.
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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound.
## **Critical accounting estimates and areas of judgement**
Preparation of the financial statements requires the trustees and management to make significant judgements and estimates
The items in the financial statements where these judgements and estimates have been made include:
- determining whether legacy income should be accrued for based on the probability of receipt;
- determining the basis for allocating support costs;
- estimating the liability for multi-year grant commitments;
- estimating the useful economic life of tangible fixed assets;
- the underlying assumptions used in the actuarial valuation of the pension scheme; and
- estimating future income and expenditure flows for the purpose of assessing going concern (see below).
## **Assessment of going concern**
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The trustees therefore believe that the charity is a going concern.
In reaching this opinion they have assumed that the future pension commitments referred to in note 20 to these financial statements and for which there is a provision on the balance sheet as at 31 March 2024 will be met out of future income as contributions become payable. The most significant areas of judgement that affect items in the financial statements are detailed above.
With regard to the next accounting period, the year ending 31 March 2025, the most significant areas that affect the carrying value of the assets held by the charity remain economic conditions, the charity’s ability to attract donations and grants and its level of investment return (please see the investment policy section of the trustees’ report for more information).
18
## **Income recognition**
Income comprises donations and grants, legacies, investment income and interest receivable. In accordance with the Charities SORP FRS 102 volunteer time is not recognised.
Income is recognised when the charity has become entitled to the income, it is probable that the income will be received and the amount can be measured reliably.
Entitlement to legacies is recognised when the charity has sufficient evidence that a gift has been left to it and the executor is satisfied that the gift will not be required to satisfy claims on the estate.
Where legacies have been notified to the charity or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
In the event that a gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Expenditure comprises the following:
Raising funds includes the salaries, direct costs and overheads associated with generating voluntary income.
Charitable activities comprises expenditure on the charity’s primary charitable purposes, including grants payable.
Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Grants payable are recognised when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and satisfied all related conditions. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not recognised but are disclosed as financial commitments in the notes to the financial statements.
All expenditure is stated inclusive of VAT.
## **Allocation of support and governance costs**
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel, provision of office services and equipment and a suitable working environment.
Governance costs are the costs associated with the governance of the charity and its assets. Support costs and governance costs are allocated as described in note 5.
## **Tangible fixed assets**
All computers costing more than £500 and all other assets costing more than £1,000 with an expected life exceeding one year are capitalised. Other assets include office equipment and website development cost.
Tangible fixed assets are stated at cost less depreciation.
All assets are depreciated at 25% on the straight-line basis in order to write off each asset over its estimated useful life.
19
## **Fixed asset investments**
Listed investments and units in common investment funds are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
The charity does not acquire put options, derivatives or other complex financial instruments.
As noted above, one of the financial risks faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the at ude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Gains and losses on investment assets are calculated as the difference between disposal proceeds or the fair value at the year end and their opening carrying value or purchase value if acquired during the financial year. Investment gains (or losses) are credited (or debited) in the statement of financial activities in the year in which they arise.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They are discounted to the present value of the future cash receipt where such discounting is material.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
Deposits for more than three months but less than one year are disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
## **Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They are discounted to the present value of the future cash payment where such discounting is material.
## **Fund accounting**
The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the trustees.
The pension reserve fund represents the amount set aside to represent the charity’s share of the Social Housing Pension Scheme’s deficit as calculated by the scheme actuary.
The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions.
## **Leased assets**
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight line basis over the lease term.
## **Pension costs**
The charity contributes to a defined benefit pension scheme which is funded by contributions from the employer and the employee. Pension scheme assets are measured using market values. Pension scheme liabilities are measured using the projected unit actuarial method and are discounted at the current rate of return on a high-quality corporate bond of equivalent term and currency to the liability. Any increase in the present value of the liabilities within the charity’s defined benefit scheme expected to arise from employee service in the period is allocated to the respective expense category within the statement of financial activities. Actuarial gains and losses are recognised in the statement of financial activities as part of other recognised gains and losses for the period.
20
## **Notes to the financial statements 31 March 2024**
## **1. Donations, grants and legacies**
||**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**68,271**
—
**68,271**
**79,110**
—
**79,110**
**382,296**
**76,083**
**458,379**
**529,677**
**76,083**
**605,760**
|Unrestricted
funds
£
21,693
—
332,096
353,789
|Restricted
funds
£
Total
2023
£
—
21,693
—
—
20,886
352,982
20,886
374,675|
|---|---|---|---|
|Legacies
Gifts in kind
Other donations and grants
||||
## **2. Investment income and interest receivable**
||**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**11,109**
**240**
**11,349**
**3,993**
**18**
**4,011**
**15,102**
**258**
**15,360**|Unrestricted
funds
£
11,492
1,910
13,402|Restricted
funds
£
Total
2023
£
—
11,492
—
1,910
—
13,402|
|---|---|---|---|
|
Income from investments
Bank interest
||||
## **3. Raising funds**
||**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**53,620**
**—**
**53,620**
**47,689**
**—**
**47,689**
**5,641**
**—**
**5,641**
**15,025**
**—**
**15,025**
**121,975**
**—**
**121,975**|Unrestricted
funds
£
61,939
37,033
6,520
18,893
124,385|Restricted
funds
£
Total
2023
£
—
61,939
—
37,033
—
6,520
—
18,893
—
124,385|
|---|---|---|---|
|Staff costs (note 8)
Advertising
Contractor costs
Allocated support costs (note 5)
||||
## **4. Assisting homeless people and those in housing need**
|
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
Grants payable
**238,712**
**62,288**
**301,000**
Staff costs (note 8)
**78,501**
**—**
**78,501**
Contractor costs
**15,159**
**—**
**15,159**
Publicity
**626**
**—**
**626**
Allocated support costs (note 5)
**43,364**
**—**
**43,364**
**376,362**
**62,288**
**438,650**|Unrestricted
funds
£
227,587
124,843
22,246
11,730
58,754
445,160|Restricted
funds
£
Total
2023
£
92,081
319,668
—
124,843
—
22,246
—
11,730
—
58,754
92,081
537,241|
|---|---|---|
Grants payable includes the distribution of gifts in kind of £79,110.
21
## **5. Support costs**
Support costs incurred during the year ended 31 March 2024 and the bases of their allocation were as follows:
||**Raising**
**funds**
**£**
**9,554**
**—**
**2,579**
**2,892**
**15,025**|
**Charitable**
**activities**
**£**
**28,662**
**—**
**6,932**
**7,771**
**43,365**|**Total**
**2024**
**£**
**38,216**
**—**
**9,511**
**10,663**
**58,390**|
**Basis of allocation**|
|---|---|---|---|---|
|
Office costs
Legal and professional fees
Bank charges and finance costs
Governance costs (note 6)
||||
Pro rata by expenditure
Pro rata by expenditure
Pro rata by expenditure
Pro rata by expenditure
|
Support costs incurred during the year ended 31 March 2023 and the bases of their allocation were as follows:
||Raising
funds
£
13,857
171
1,743
3,122
18,893|
Charitable
activities
£
41,571
582
5,947
10,654
58,754|Total
2023
£
55,428
753
7,690
13,776
77,647|
Basis of allocation|
|---|---|---|---|---|
|
Office costs
Legal and professional fees
Bank charges and finance costs
Governance costs (note 6)
||||
Pro rata by expenditure
Pro rata by expenditure
Pro rata by expenditure
Pro rata by expenditure
|
## **6. Governance costs**
|
Independent examiner’s
remuneration
Independent examiner’s
remuneration previous year
Other professional costs
|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**4,800**
**—**
**4,800**
**4,800**
**—**
**4,800**
**1,063**
**—**
**1,063**
**10,663**
**—**
**10,663**|Unrestricted
funds
£
4,800
7,943
1,033
13,776|Restricted
funds
£
Total
2023
£
—
4,800
—
7,943
—
1,033
—
13,776|
|---|---|---|---|
## **7. Net income (expenditure)**
This is stated after charging:
||**2024**|2023|
|---|---|---|
||**£**|£|
|Staff costs (note 8)|**132,121**|186,782|
|Independent examiner’s remuneration|**4,800**
|4,800|
|Independent examiner’s remuneration previous year|**4,800**|7,943|
|Depreciation|**2,180**|2,725|
22
## **8. Staff costs**
||**2024**
**£**
**113,807**
**11,190**
**7,124**
**132,121**
**2024**
**£**|2023
£|
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs
||159,123
16,674
10,985|
|||186,782|
|Staff costs (including other related costs) by function were as follows:
||
2023
£
61,939
124,843
186,782|
|Raising funds
Charitable activities
|**53,620**
**78,501**||
||**132,121**||
The average number of employees, analysed by function, was as follows:
||**2024**
2023
**2**
3
**1**
2
**3**
5|
|---|---|
|Raising funds
Charitable activities
||
No employees were paid more than £60,000 during the year (including taxable benefits but excluding employer pension contributions).
The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a dayto-day basis comprise the trustees and the Executive Director of the charity.
The total remuneration (including taxable benefits and employer’s pension contributions) of the key management personnel for the year was £53,620 (2023 £52,852).
## **9. Trustees**
None of the trustees received any remuneration from the charity during the year (2023: none). Five trustees were reimbursed travel expenses in the year totalling £756 (2023: £875).
Total donations from trustees were £2,280 (2023 £2,605).
As of March 2024, two of the serving trustees were nominated by Riverside Care and Support, both are employees of Riverside Care and Support.
## **10. Taxation**
Church Homeless Charity is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.
23
## **11. Tangible fixed assets and website**
|**Cost**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for year
At 31 March 2024
**Net book values**
At 31 March 2024
At 1 Aoril 2023|**Computers**
**and equipment**
**£**
9,889
—
9,889
6,790
680
7,470
**2,419**
3,100|**Fixtures**
**and fittings**
**£**
4,761
—
4,761
4,761
—
4,761
—
—|**Website**
**£**
11,400
—
11,400
9.900
1,500
11,400
—
1,500|**Total**
**£**|
|---|---|---|---|---|
|||||
26,050
—|
|||||26,050|
|||||
21,451
2,180|
|||||23,631|
|||||
**2,419**|
|||||4,600|
## **12. Fixed asset investments**
|**12. Fixed asset investments**||
|---|---|
||**Total**|
||**£**|
|
Market valueat1 April 2023|
390,315|
|Additions during the year|—|
|Net gains for the year|35,329|
|Market valueat31 March 2024|**425,644**|
|Historical costat31 March 2024|**274,048**|
## **13. Debtors**
||**2024**
**£**
**2,138**
**13,613**
—
**2,750**
**18,501**|2023
£|
|---|---|---|
|Income tax recoverable
Prepayments and accrued income
Legacies receivable and other debtors
Investment income receivable
||10,693
4,010
—
2,860|
|||17,563|
24
## **14. Creditors: amounts falling due within one year**
||**2024**
**£**
2023
£
**20,223**
20,575
**6,885**
8,381
**30,055**
8,461
**57,163**
37,417|
|---|---|
|Expense and other creditors
Social security and other taxes
Accruals and grants in advance
||
## **15. Provision for liabilities**
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
|Provision for Social Housing Pension Scheme liabilities (note|20)|**119,000**|
136,000|
## **16. Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:
||Balance at
1 April
2023
£
37,000
4,489
26,993
11,620
22,680
19,125
26,592
148,499|
Income
£
—
22,269
—
6,000
—
30,000
18,072
76,341|
Expenditure
£
—
(5,293)
(7,710)
(20,935)
(2,711)
(11,635)
(14,004)
(62,288)|
**Balanceat**
**31 March**
**2024**
**£**
**37,000**
**21,464**
**19,282**
**(3,315)**
**19,969**
**37,490**
**30,662**
**162,552**|
|---|---|---|---|---|
|Birmingham Townsend Gardens
Surrey funds
Sussex funds
East Yorkshire
North Yorkshire
Veterans’ Schemes
Other support funds (note 17)
|||||
The above restricted funds are funds held to support service users in specific schemes or regions across England.
## **17. Support funds**
Support funds are used to give grants to the residents in 105 supported schemes for homeless people throughout England. The kinds of grants given and the impact they have are described on pages 6 and 7 and the amounts payable during the year are shown in note 4 as grants payable. A breakdown of the distribution of grants is given on pages 8 and 9.
25
## **18. Movements in funds**
|
Funds brought forwardat1 April 2023
Net income (expenditure) per statement of
financial activities
Defined benefit scheme deficit contribution
paid
Actuarial gains (losses)
**Funds carried forwardat31 March 2024**|General
fund
£
|Pension reserve
fund
£
(136,000)
(9,000)
35,000
(9,000)
**(119,000)**|Restricted
funds
£
148,499
14,053
—
—
**162,552**|
Total
£|
|---|---|---|---|---|
||338,139
90,771
(35,000)
—
**393,910**|||350,638
95,824
—
(9,000)|
|||||437,462|
## **19. Analysis of net assets between funds**
||General
fund
£
2,419
425,644
(34,153)
—
393,910|Pension reserve
fund
£
—
—
—
(119,000)
(119,000)|Restricted
funds
£
—
—
162,552
—
162,522|
**Total 2024**
**£**|
|---|---|---|---|---|
|Tangible fixed assets
Investments
Net current assets
Provision for liabilities
Total net assets||||**2,419**
**425,644**
**128,399**
**(119,000)**|
|||||**437,462**|
## **20. Pension commitments**
## **Social Housing Pension Scheme: Background and information about the Scheme**
Until 31 March 2013, the charity participated in the Defined Benefits Section of the Social Housing Pension Scheme (the Scheme). Church Homeless Charity ceased to have any active members of the defined benefit scheme on 31 March 2013.
The Scheme is a multi-employer scheme which provides benefits to some 400 non-associated employers. The Scheme is a defined benefit scheme in the UK.
The Scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, sets out the framework for funding defined benefit occupational pension schemes in the UK.
The Scheme is classified as a ‘last man standing arrangement’. Therefore, the charity is potentially liable for other participating employers’ obligations if those employers are unable to meet their share of the Scheme deficit following withdrawal from the Scheme. Participating employers are legally required to meet their share of the Scheme deficit on an annuity purchase basis on withdrawal from the Scheme.
In 2020, sufficient information became available to allow the actuary to the Social Housing Pension Scheme (the Scheme) to calculate the share of the Scheme’s deficit applicable to each of the participating employers.
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## **Present values of defined benefit obligation, fair value of assets and defined benefit assets (liability)**
||**31 March**
**2024**
**£’000**
31 March
2023
£’000
**596**
600
**715**
736
**(119)**
(136)|
|---|---|
|Fair value of plan assets
Present value of defined benefit obligation
Defined benefit liability to be recognised||
## **Reconciliation of opening and closing balances of the defined benefit obligation**
||**Year ended**
**31 March**
**2024**
**£’000**
Year ended
31 March
2023
£’000
**736**
1,103
**3**
3
**35**
30
**_**
(148)
**(13)**
(3)
**9**
(204)
**(55)**
(45)
**715**
736|
|---|---|
|Defined benefit obligation at start of period
Expenses
Interest expense
Actuarial (gains) losses due to scheme experience
Actuarial (gains) losses due to changes in demographic assumptions
Actuarial (gains) losses due to changes in financial assumptions
Benefits paid and expenses
Defined benefit obligation at end of period||
## **Reconciliation of opening and closing balances of the fair value of plan assets**
||**Year ended**
**31 March**
**2024**
**£’000**
Year ended
31 March
2023
£’000
**600**
931
**29**
26
**(13)**
(346)
**35**
34
**(55)**
(45)
**596**
600|
|---|---|
|Fair value of plan assets at start of period
Interest income
Experience on plan assets (excluding amounts included in interest income) - (losses)
gains
Contribution by the employer
Benefits paid and expenses
Fair value of plan assets at end of period||
The actual return on the plan assets (including any changes in share of assets) over the period from 31 March 2023 to 31 March 2024 was a gain of £16,000 (2023 loss of £320,000).
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## **Defined benefit costs recognised in the statement of financial activities:**
Included in expenditure on charitable activities
||**Year ended 31**
**March**
**2024**
**£’000**
Year ended 31
March
2023
£’000
**3**
3
**6**
4
**9**
7|
|---|---|
|Expenses
Net interest expense
Defined benefit costs recognised in statement of financial activities||
Included in other recognised (losses) gains
|**Year ended 31 March**
**2024**
**£’000**
Experience (losses) on plan assets (excluding amounts included in net interest costs)
**(13)**
Experience gains and (losses) arising on the plan liabilities
**0**
Effects of changes in the demographic assumptions underlying the present value of
the defined benefit obligation - gain (loss)
**13**
Effects of changes in the financial assumptions underlying the present value of the
defined benefit obligation - gain (loss)
**(9)**
Total actuarial gains
**(9)**
|Year ended 31
March
2023
£’000|
|---|---|
|Experience (losses) on plan assets (excluding amounts included in net interest costs)
Experience gains and (losses) arising on the plan liabilities
Effects of changes in the demographic assumptions underlying the present value of
the defined benefit obligation - gain (loss)
Effects of changes in the financial assumptions underlying the present value of the
defined benefit obligation - gain (loss)
Total actuarial gains
|
(346)
148
3
204|
||9|
## **Defined benefit deficit recovery plan**
Under the recovery plan, effective from 1 April 2019, the deficit contributions that are required from Church Homeless Charity are £33,410 a year until September 2026.
These payments will increase annually by 2% from 1 April 2020 and on each 1 April thereafter.
## **Estimated debt on withdrawal from the defined benefit scheme**
As a result of pension scheme legislation, there is a potential debt (section 75 liability) on the employer that could be levied by the Trustee of the Scheme. The debt is due in the event of the employer ceasing to participate in the Scheme or the Scheme winding up.
The debt for the Scheme as a whole is calculated by comparing the liabilities of the Scheme (calculated on a buyout basis i.e. the cost of securing benefits by purchasing annuity policies from an insurer, plus an allowance for expenses) with the assets of the Scheme. If the liabilities exceed assets there is a buy-out debt.
The leaving employer’s share of the buy-out debt is the proportion of the Scheme’s liability attributable to employment with the leaving employer compared to the total amount of the Scheme’s liabilities (relating to employment with all the currently participating employers). The leaving employer’s debt therefore includes a share of any unpaid liabilities in respect of previously participating defaulting employers. The amount of the debt therefore depends on many factors including total Scheme liabilities, Scheme investment performance, the liabilities in respect of current and former employees of the employer, financial conditions at the time of the cessation event and the insurance buy-out market. The amounts of debt can therefore be volatile over time.
Church Homeless Charity has been notified by the Pensions Trust of its estimated employer debt on withdrawal from the Scheme based on the financial position of the Scheme as at 30 September 2022. As of this date the estimated employer debt or Section 75 liability for Church Homeless Charity was £366,079 (30 September 2022 - £366,079).
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## **Assets**
The charity’s share of assets held within the Scheme at 31 March 2024 is as follows:
||
**31 March**
**2024**
**£’000**
31 March
2023
£’000
**59**
11
**293**
310
**243**
277
**1**
2
**596**
600|
|---|---|
|Global Equity
Alternative Asset Classes
Liabilities Driven Investment
Net Current Assets
Total assets||
None of the fair values of the assets shown above include any direct investments in the employer’s own financial instruments or any property occupied by, or other assets used by, the employer.
## **Key Assumptions**
||**31 March**
**2024**
**% per annum**
31 March
2023
% per annum
4.82
4.91
3.24
3.21
2.71
2.64
3.71
3.64
75% of maximum
allowance
75% of maximum
allowance|
|---|---|
|Discount Rate
Inflation (RPI)
Inflation (CPI)
Salary Growth
Allowance for commutation of pension for cash at retirement||
The mortality assumptions adopted imply the following life expectancies:
|
**31 March 2024**
**Life expectancy at**
**age 65 (Years)**
Male retiring in 2024
**20.5**
Female retiring in 2024
**23.0**
Male retiring in 2044
**21.8**
Female retiring in 2044
**24.4**
|
31 March 2023
Life expectancy at
age 65 (Years)|
|---|---|
||21.0
23.4
22.2
24.9|
## **21. Related parties**
Riverside Care and Support has the right to nominate up to one third of the trustees of Church Homeless Charity.
During the year Church Homeless Charity awarded grants to homeless individuals referred by Riverside Care and Support, making payments which in aggregate amounted to £141,876 (2023 £221,392). These monies were for the direct benefit of individuals experiencing homelessness providing funds for purposes for which there is no government funding available.
There are no other related party transactions requiring disclosure in 2024 (2023 none).
## **22...Members’ liability**
The charity is constituted as a company limited by guarantee. In the event of the company being wound up, company members are required to contribute an amount not exceeding £1.
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## **The schemes we work with:**
Shepherd Court Stopover The Beeches Street Engagement Hub
## **Berkshire**
Elizabeth Fry Charity
## **Bristol**
Jamaica Street
**Buckinghamshire**
**Hampshire**
Wycombe Homeless Connection Old Tea Warehouse
Mike Jackson House
**Kent**
Elizabeth Court Lily Smith House Regent House Simon Mead House The Quays Towers Point
**Cambridgeshire**
Cambridge Youth Foyer The Springs The Victoria Project
**Cumbria**
Eden Rural Foyer
South Lakes Foyer Carlisle Foyer Whitehaven Foyer
**Leicestershire**
One Roof Homes and night shelter
## **London**
Migrant Destitution Fund (Housing Justice) King George’s Hostel Hope Worldwide
**Derbyshire**
Derby Projects Centenary House
Kurdish and Middle Eastern Women’s Organisation
**Gloucestershire** Claremont House Newton House
C4WS Homeless Project
**Greater Manchester and Cheshire**[Engage Enfield ] A Bed Every Night Blackmore House
Blackmore House
Bolton House
Chapter Street Hilltops House Anira House and LGBTQ+ Crisis Shelter Pimlico Pathway
Brydon Court Gransmoor Women’s Shelter Newbury House NSAP Rochdale Project 394 Refugee Brokerage Service Orchard Accommodation
Queen Mary’s Hostel Evolve Housing and Support Westminster Transitional Housing The Boundaries and Lucas Court
Wilson Carlile House
## **Merseyside**
Springboard
Liverpool Dispersed Tenancy Service
Liverpool Floating Support
SASH
Sefton Family Service Shaw Street Rose Brae Hostel Powerhouse Liverpool RSAP
**Nottinghamshire**
Emmanuel House Winter Shelter
**Somerset**
The Hope Centre **Suffolk** Selig Suffolk Trust Acorn House Cangle Foyer Lindsey Court Coupals Court
**Surrey**
Guildford HOST Number 5 Hub Vaughan House St Saviour’s Dispersed Housing
**Sussex**
ID Essence Accommodation for Work Pass it on The Four Streets Projects
## **West Midlands**
The Shrewsbury Ark Townsend Gardens
**Wiltshire**
Booker House
**Yorkshire East**
Clearview
The Crossings
Cosford Garth and Young people’s intensive support
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The Beacon STAGES Academy **Yorkshire South** Garnham House Open House
## Laurel House
New Court
Rough Sleeper Initiative STAGES Academy Marsh Way House NSAP Rochdale **Yorkshire South** Laurel House Russell Raywell Street Garnham House Marie House St Ambrose Court Open House Springhill Close Terry Street Resettlement **Yorkshire West** Young Families Service Centre 28 Leeds Destitute Asylum Seekers Support Bradford Project **Yorkshire North** West Yorkshire Destitute Asylum Network Bracken Court Hardwick House Ladybeck House
## **The trusts and companies that supported us this year:**
## **Trusts and Foundations**
The Charity Service
Arimathea Charitable Trust Bateman Family Trust Bedhampton Charitable Trust
The Grace Trust The Pears Trust The Veterans’ Foundation
Benham Charitable Settlement Bridgewater Charitable Trust Brownlee Charitable Trust Burley Weydon Trust Charles & Elsie Sykes Trust Dalren Charitable Trust Fulmer Charitable Trust Guildford Poyle Charities Hyde Park Place Estate Charity Macedonian Charitable Trust Paragon Trust Richard John King Sir James Reckitt Charity SLG Charitable Trust
## **Corporate Partners**
3i Group Blakemore Foundation Douthwaite Florists Sundries Fairoak Corporation Le Cateau School Lenny's Coffee Shop L’Oréal Manchester Recycle 4 Charity The Rotary Club of Ossett
The Riverside Group Thor Companies Vodafone Warner Brothers
Strand Parishes Trust
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Church Homeless Charity gives personal grants to people who are homeless, to help them to rebuild their lives
www.churchhomelesscharity.org.uk Charity number 802801
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