FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Current financial year UnresfJicted Restricted funds funds 2023 2023 Tolal Total 2023 2022 Income from: Donations and legaaes Charitable activities 29,992 15,167 45.159 109.902 1A22.534 3.697,622 5.120.156 4.545.748 Total income 1.452,526 3,712.789 5.165,315 4,655,650 enditure on". Charitable activities 1,428.1n 3,641.483 5.069,656 4,672.568 Net incomingl(outgoing) resources before transfers 24.353 71,306 95.659 (16.918) Gross transfers between funds 17 222.668 (222,668) Net incomel{expenditure) for the yearf Net movement in funds 247,021 {151.362) 95.659 (16.918) Fund balances at 1 Aprll 2022 210,811 782,804 993,615 1.010.533 Fund balances at 31 March 2023 457.832 631,442 1,089,274 993.615 The statem8nt of financial activities indudes all gains and losses recognised in the year. JI income and expendibjre derive from continuing acbvitses. The statement of finanrAal acbvitses also complies wilh the requirements for an income and expendire account under the Companies Act 2006. 15-
FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF FINANCIALACTMTIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Prior financial year Total funds 2022 funds 2022 2022 Income from: Donations and legacies Charitable act¢vities 20.364 89.538 109.902 1.067.166 3,478,582 4545.748 Total income 1.087.530 3,568,120 4.655,650 enditure on: Charitable activities 1277.621 3,394.947 4.672,568 Net incomingl(outgoing} resources before transfers {190.091) 173,173 (16.918) Gross transfers between funds 171.406 (171.406) Net Incomel(expenditure) for the yearl Net movement in funds (18.685) 1,767 {16,918) Fund balances at 1 April 2021 229A96 781,037 1.010.533 Fund balances at 31 March 2022 210.811 782,804 993,615 The statement of financial acbvibes indudes all gains and losses recognised in the year. Al income and expenditure derive from continuing activitses. The statement of financial aclivtbes also complies with the requirements for an income and expenditure account under the CompaniesAd 2006. 16-
FIRST HOUSING AID & SUPPORT SERVICES LTD BALANCE SHEEr ASAf31 MARCH 2023 2023 2022 Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 11 101,687 137.513 12 181261 949,262 175,057 880,909 1.130.523 1.055.966 Creditors: amounts falling due within one year 13 (141936) (199.864) Net Cunt assets 987.587 856,102 Total assets less current liabilities 1.089274 993.615 Income funds Restricted funds Unrestricted funds 15 631,442 457,832 782.804 210.811 1.089.274 993.615 These financial statements have been prepared in accordance with the provisrons applicable to companies subject to the small companies regime. The financtal statements were apped by the Trustees on 9 November 2023 Phil Mahon Trustee hairperson) Slephen Connolty Trustee Company Registration No. N1031975 17-
FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash Ilows from operating activities Cash generated from operations 21 620 59.113 Investing activities Purchase of tangible fixed assets (16,26n (76.425) Net cash used in investing activities {1626n 176,425) Net cash used in financing activitses Net increasel(decrease) in cash and cash equivalents 68.353 (17.312) Cash and cash equivaIents at beginning of year 880.909 898,221 Cash and cash equivalents at end of year 949.262 880,909 18-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity inforniation First Housing Aid & Support Services Ltd is a private Ix)mpany limited by guarantee incorporated in Nothem Ireiand. The registered office is 23 Bishop StreeL Dery-Londondefry. BT48 6PFi 1.1 Accounting conventlon The financial sL3tements have been prepared in accordance viith the charitys goveming do(JJment. the Companies Acl 2006. FRS 102 Yhe Financial Reporttng Stsndard applicable in the UK and Republic of Ireland. ('FRS 102") and the Charities SORP "Accounting and Reporting by Chartties: Ststement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The cha17ty is a Public Benefft Entity as defined by FRS 102. The financial statements are prepared in sterfing. whid) is the funrtional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest L The financial statsments have been prepared under the historical cost nVention. The prinapal ac(xJunting poliaes adopted are set oui below. 1.2 Going concern At the time of approving the finanaal statements. the Trustees have a reasonable expectation that the charity has adequate resourtss to continue in operational StenCe for the foreseeable future. Thus the Trustees continue to adopt the going cOnM basis of aco)unting in pparing the finanal ststements. 1.3 Charitable funds Unrestricted funds are av811 able for use at the discretion of the Trustees in furtherance of their charrtable objectives. Restrrcted fvnds are subject to speufic conditions by donors as to hi)w they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial ststements. 1.4 Income Incorne is recognised when the charity ts legally entitled to it afler any perf0rrnan conditions have been mel the amounts can be measured reliably. and it is probable that inrne will be received. Cash donattons are recognised on rlpL Other donations are re(x)gnised once the charity has been nottfied of the donation. unless perfomance condibons require deferral of the amounL Income tax r8coverable in relation to donation5 received under Gift Aid or deeds of covenarrt is recognised at the time of the donation. 1.5 Expenditure Expenditure is recognised once there is a legal or ¢x)nstructive obligation to make a payment to a third party. It is probable that setuement will be required and the amount of the obligation be measured reliably. Expenditure on tharitable acbvibes indudes the (wts of services undertaken to fvrther the purposes of the charity and their assoLiated support costs. Irrecoverable VAT is charged as a cost against the acbvity for which the expenditure Ivas incurred. Support costs are those fundions that assist the work of the charity but do not directly undertake charttable activities. Support costs indude back office costs. finance, personnel, payroll and governan costs which support the charitys programmes and activtbes. The base5 on vthith support costs have been alocated are set out in note 6. 19-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounttng policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initsally measured at ojst and subsequenty measured at $t or valuation. net of depreciation and any imparment losses. Depreciation is recognised so as to Wfite off the cost or valuation of assets less their residual values over their useful lÈves on the following bases: ACmodation fvmiture and equipment Office equipment Motor vehides 20% straight line p.a. 20% strdight line p. 20% straight line p. The gain or loss arising on the disposal of an asset is determined as the difference ben Ihe sale proceeds and the value of the asseL and is recognised in the statement of financial actrvibes. 1.7 Impalrrnent of fixed assets At each reporting end date. the tharity reviews Ihe carrying amounts of ts tangible assets to detemine whether there is any indicatton that those assets hwle suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalents indude sh in harmd and bank overdfafts. Bank overdrnfts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to appty the prowsions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys balance sheet when the charity becomes party to the contractual provisions of the in5trumenL Financial assets and liabilities are offseL with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intsntion to settle on a net basis or to realise the asset and setue the liability simultaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances. are initsally measured at transaction price induding transaction costs and are subsequenty c2rried at amorbsed cost using the effective interest method unless the arrangement conslitijtes a financing trdnsaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interesL Financial asseLs dassffied as receivable within one year are not amortised.
FIRST HOUSINGAID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) Basic financial liabilities Basic finanaal liabiltlies, including creditors and bank loans are initialty recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the fijture payments discounted at a market rate of interesL Financial liabilitses dassffied as payable wtthin one year are not amorti. Debt instnjments are subsequenty Carri at amortised cosL using Ihe effective interest rate method. Trade Creditors are obligations to pay for goods or Se1 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one year or less. If no( they are presented as non-cAJrrent liabilittes. Trade creditors are recognised initialty at transaction price and subsequenliy measured at amortised cost using the effecttve interest method. Derecognition of financlal liabilities Financial liabilites are derecognised when the charit5ls ojntradual obligations expire or are discharged or cancelled. 1.10 Taxation The company is a char5ty and is recognised as such by HM Revenue & Customs under the tharity tax reference XR19886. As a resul( there is no liabilty to taxation on any of in(x)me. 1.11 Employee benefits The cost of any unused holiday entttlefflent is recognised in the period in whtth the employee's services are received. Temiination benefits are recognised immediatety as an expense vthen the tharity is demonstrabty committed to terminate the employment of an employee orto provide termination benefits. 1.12 Retirement benefits Payments to defined contrrbution reliremenl benefft schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the chartvs accounting polioes. the Trustees a required to make judgements, estimates and assumptions about the carytng amount of assets and liabilites that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant Actual results may differ from these estimates. The estirnates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in vthith the estimate is revised where the revision affects only that pertod. or in the period of the revision and future periods where the revision affects both current and future periods. -21-
FIRST HOUSINGAID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donations and legacies Unrestricted Restricted funds fvnds Total Unrestricted Resthcted funds fvnds Totsl 2023 2023 2023 2022 2022 2022 Donations and gifts 29.992 15,167 45.159 20.364 89.538 109,902 Donations and gifts HMRC CJRS Department of Health - Special Recognition Award 2.829 2.829 15.167 15.167 29.992 86.709 86.709 20.364 29.992 20.364 29,992 15.167 45.159 20.364 B9.538 109,902
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activittes 2023 2022 Landlord management fee inc4)me Hostel se[ income Grant fvnding Rent re1vable Other income 74.869 76.838 52.908 57.124 3,682.122 3.487,517 1,273,564 903.569 36,693 20,700 5,120,156 4,545,748 Analysis by fund Unrestricted funds Restricted funds 1,422,534 1.067.166 3,697.622 3.478.582 5,120,156 4.545,748 Performance related grants NIHE Supporting People NIHE Dispersed Outreach Pr(yJramme WHSCT Oak Foundation Public Health Agenry- De Paul NIHE Sustaining Tenan(aes NIHE Homeless Prevention Funding Other 2,868,362 2,660,902 210,500 209,132 442,760 427.446 94.293 112.410 23.203 21,000 15.659 27.345 56,627 3.682,122 3,487.517 -23-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities 2023 2022 Staff costs Depreciation and impainnent Accommodation rent and rates Accommodation heat. light and power Travelling and subsisten Premises security Maintenance costs Food budget 3,450,333 3,117,715 52,093 58,539 613,525 610.798 126,788 80.214 51.559 28.297 49,490 44.275 41.414 39.852 21.233 21.165 E 11 Accommodation purchases Programme costs IT support Printing. postage and stationery Staff training Telephone Advertising and recruitment other costs 10.907 14.923 8.297 2,403 8,059 51,532 9,208 8,665 2,054 32,991 4,404 26,123 26.923 3.718 39.701 4516.556 4.143.891 Share of support costs (see note 6) Share of govemance costs (see note 6) 526.185 26.915 496.817 31,860 5.069,656 4,672.568 Analysis by fund Unrestricted funds Restricted funds 1.428,173 1,277.621 3,641,483 3,394.947 5,069,656 4,672.568 -24-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance easts 2023 Support Governance 2022 Staff costs Other support staff costs Central premises costs Central office costs IT support Bank charges 396.675 8.915 75,662 8.502 28,322 1996 5.113 396,675 8,915 75,662 8.502 28,322 2,996 5,113 366.806 13.345 65.828 9,609 33.601 3.692 3.936 366,806 13,345 65,828 9,609 33.601 3.692 3,936 Audit fees Legal and professional 7.800 19.115 7,800 19.115 7.200 24.660 7,200 24,660 526.185 26,915 553.100 496.817 31.860 528,677 Analysed beleen Charitable activitses 526.185 26.915 553,100 496,817 31.860 528.677 Net movement in funds 2023 2022 Net movement in funds IS stated after chargin{CredIting) Fees payable to the companys auditor for the audit of Ihe companys finanaal statements Depreaation of owned tangible ed assets 7.800 52.093 7.200 58.539 Trustees None of the Twstees (or any persons connected with them) reiVed any remuneration, reimbursement of expenses or any other benefits from the (*arity during the year. -25-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employees The average rrjonthly number of employees during the yearwas: 2023 Number 2022 Number 176 169 Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 3A65.245 318.508 3.111,093 262.804 110.624 3,847.008 3.484.521 There were no employees wttPi emoluments exces5 of £60.000. The number of employees whose annual remuneration was £60.000 or mre were: 2023 Number 2022 Number £60.001 to £70.000 10 Taxation The tharity is exempt from tsx on InMe and gains falling within section 505 of th8 Taxes Act 1988 or section 252 of the Taxationof Chargeable GainsAct 1992 to the extent that these are applied to its charitable objects.
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 Tangible fixed assets furniture and ¢quipment equipment Cost At 1 April 2022 Addiknons 1230.707 15.564 438.521 703 15,850 1,685,078 16,267 At 31 March 2023 1.246271 439,224 15,850 1.701.345 Depreciation and impaimient At 1 April 2022 Depreciation dprged in the year 1,203.704 13,105 331.181 35,818 12.680 3,170 1.547,565 52,093 At 31 March 2023 1216.809 366,999 15,850 1,599.658 Carrying amount At 31 March 2023 29.462 72,225 101.687 At 31 March 2022 27,003 107.340 3.170 137.513 12 Debtors 2023 2022 Amounts falling due within one year. Trade debtors Other debtors Prepayments 145.168 317 35.776 145,542 317 29,198 181261 175.057 13 Creditors: amounts falling due within one year 2023 2022 Other taxation and s(Kial security Trade creditors AccNals 62,458 52.474 28.004 70,974 33,669 95.221 142,936 199,864 14 Retirement benefit schemes Defined contribution schemes The charity operates a defined contribution pension stheme for all qualifying employees. The assets of the scheme are held separately from those of the tharity in an independently administered fvnd. The tharge to profft or loss in respect of defined contribution schernes was £63.255 (2022 - £110.624). -27-
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FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Analysts of net assets between funds Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances at 31 March 2023 are represented by: Tangible assets Current assetsl(liabiltties) 47.391 410.441 4296 STI.146 101,687 987,587 34.378 176,433 103,135 679.669 137,513 856.102 457,832 631.442 1.089,274 210.811 782.804 993,615 17 Transfers between funds During the year there have been net transfers between fvnds in the amount of £222.668 from restricted funds to unrestricted funds made up as follows= £111,683 representing fvnding receNed for beds within Housing Benefft projects. Funding has been released from restricted funds to UnStrICted fijnds to match against the associated expenditure. £110,985 representing release from Supporting People fvnding in respect of Covid related costs. 18 Financial commitments. guarantees and contingent liabilities Certain grants received and receivable may become repayable to the funder rf the tharity is no longer able to meet the conditions under which they were awdrded. Due to the nature of these contingenaes it may not be possible to quantify the potential financial effect or give an indilon of the timing as to the liabilities that may arise. 19 Funds received as agent First Housing Aid and Support Services (FHASS) acts as an agent on behatf of tenants INing in accotnmodation apptying for ernergency l¢)ans. assisting yth the application process and facilitating the receipt of funds from the grant awarding body and subsequent issue to the applicanL First Housing continues to value the strong relationships fostered with all grant awarding bodies and is gratefvl for the suptM)rt afforded to their dients in respect of these emergen grants. During the year. the charity received incoming resources amounting to £21,870 from St. Martin in the Fields, £2,500 from the Glasspool Chaiity. £1,650 from Famity Action. and £800 from the Margaret Fund. All amounts were paid out to tenants during the year. These amounts have not been refiected in the finanoal statements for the year in accordan with the treatment recommended by the Statement of Recommended Practice "Accounting and Reporting by Charites". 20 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation 299,940 267,241 -31-
FIRST HOUSINGAID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 20 Related party transactiorvs (Continued) Other related party transactions There were no other related party trandIonS during the year. 21 Cash generated from operations 2023 2022 Sutplusl(deficit) for the year 95.659 {16.918) Adjustrnents for. Depreciation and impairment of tangible fwj assets 52.093 58.539 Movements in working capital: (Increase) in debtors (Decreaseyincrease in creditor5 (6,204) (56.928) (69,341) 86.833 Cash generated from operations 84,620 59,113 22 Analysis of changes in net funds The charity had no debt during Ihe year. -32-