FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current flnanclal year Unrestricted Restrictsd funds fvnds 2024 2024 Total Total 2024 2023 Notss Income from: Donations and legacies Charitable activities 48,692 48,692 45,159 1,519,555 3.994.074 5.513.629 5.120.156 Total Income 1,568,247 3.994074 5.562.321 5.165.315 endlture on: Charitable activities 1,470,469 3.757.354 5.227,823 5.069,656 Net incoming resources before transfers 97.778 236,720 334,498 95.659 Gross transfers between funds 18 91,384 (204.871) (113.487) Net Income for the yearf Net movement In funds 189.162 31.849 221,011 95.659 Fund balances at 1 April 2023 457.833 631.442 1,089,275 993.615 Fund balances at 31 March 2024 646,995 663.291 1.310.286 1,089,274 Th8 Statement of financial activibes includes all gains army Ioss8s recognised in the year. The ststement of financial acti¥ities indudes all gains and losses recognised in the year. All Income and expenditure derive from ¢ontinuing activities. The statement of financial aclivitses also complies with the requirements for an income and expenditure account under the Companles Act 2006. 15-
FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor flnanclal year Unrestrlcted Restrfcted funds funds 2023 2023 Total 2023 Notes Income from: Donations and legacies Charitable activities 29.992 15.167 45,159 1,422.534 3,697,622 5,120,156 Total Income 1,452,526 3,712,789 5,165.315 Ex ondlture on: Charitable activities 1.428,1n 3.641.483 5,069,656 Net incoming resources before transfer8 24.353 71,306 95,659 Gross transfers between funds 222.668 (222,668) Net income for the yearl Net movement In funds 247,021 (151,362) 95,659 Fund balances at 1 April 2022 210.811 782,804 993,615 Fund balances at 31 March 2023 457,832 631,442 1,089,274 The ststement of financial activitses indudes all gains and losses recognised in the year. The statement of financial activities indudes all gains and losses rec(NJnised in the year. All income and expenditure derive from continuing activities. The statement of financial activitses also complies wtth the requirements for an incom8 and expendtiure account under the Companies Act 2006. 16-
FIRST HOUSING AID & SUPPORT SERVICES LTD BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 11 77,390 101.687 12 205.232 1.307.972 181.261 949.262 1.513204 1.130.523 Credllors: amounts falling due wlthln one year 13 (280,308) (142.936) Net current assets 1,232,896 987,587 Total assets less current Ilabllltles 1.310,286 1,089,274 Income funds Restricted funds Unrestricted funds 15 663,291 646,995 631.442 457,832 1.310,286 1,089,274 These financial statements have been prepared in acrdanCe with the provislons applicable to companies subjed to the small companies regime. The financial statements were approved by the Trustees on 20 December 2024 Phil Mahon (Chairperson) Trustee Stephen Connolly Trustee Company Registration No. N1031975 17-
FIRST HOUSING AID & SUPPORT SERVICES LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated from operdtions 386.756 84,620 Investing activities Purchase of tangible fixed assets {28,046) {16.267) Net cash used in Investlng activltles (28,046) 116.267) Net cash used in financing actmties Net increase in cash and cash equivalents 358,710 68.353 Cash and cash equivalents at beginning of year 949,262 880.909 Cash and cash equivalents at end of year 1.307,972 949,262 18-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charity inforniatlon Flr5t Housing & Support Services Ltd Is a Private (x)mpany limited by guarantee Incorporated in Northem Ireland. The registered office is 23 Bishop Street, DeOnd0nderry. BT48 6PR. 1.1 Accounting convention The financial statements have been prepared in accordan with the charivs goveming document. the Companies Act 2006, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102") and the Charities SORP 'AcUnting and ReportirrfJ by Charities: Statement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (effective 1 January 2019). The charty is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currenry of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charftable funds Unrestricted funds are available for use at the discretion of the Trustees in fvrtherance of their charitable objectives. Restricted funds are subjeot to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restriGted fvnds are set out in the notes to the financial siatements. 1A Income Income is recognised when the charty is legally entilled lo it after any performance conditions have been me( the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the donatton. unless perfomiance conditions requlre deferral of the amount. Income tax recoverable in relation to donations received under Grft Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Expenditure is recognised once there is a legal or constnjcttve obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes Ihe o)sts of serVIS undertaken to fijrther the purposes of the charity and their associated support costs. Irrecoverable VAT Is charged as a cost against the activity for which th8 expenditure vms incurréd. Support costs are those functions that assist the work of the charity but do not directly undertake charilable activities. Support costs include back office costs. finan, personnel, payroll and governance costs which support the charivs programmes and activitie5. The bases on which support o)sts have been allocated 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 2024 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are inthally measured at cost and subsequendy measured at cost or valuation, net of deprecialion and any impaimienl losses. Depreciation is recognised so as to write off the rJ)st or valuation of assets18ss th8lr resldual values over their useful lives on the following bases- A¢comodation fvmilure and equipment Office equipment Motor vehicles 20% straight line p.a. 20% straight line p.a. 20% straight line p.a. The gain or loss arising on the dlsposal of an asset is determined as the difference belween the sal8 proceeds and the carying value of the asset. and is recognised in the statement of financi81 activities. 1.7 Impalrnient of fixed assets At each reporting end date, the dwrity reviews the carying amounts of its tangible assets to detsrmine whether there is any indication that those assets have 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 impaimient loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand and bank rferdrafts. Bank overdrafts are shown within bomwings in current liabilities. 1.9 Flnancial 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 vthen the charity becomes paty to th8 contractual provisions of the instrument. Finanoial assels and liabilities are offset. 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 int8ntion to S8tde on a net basls or to realis8 the asset and setue the liability simultaneously. Baslc Ilnancial assets Basic financial assets, which indude debtors and ISh and bank balances, are inittally measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effeclive interest method unless the arrangement constitutes a financing transaction, where the transaclion is measured at the present value of the future receipts discounted at a market rate of int8resL Financial assets classified as receivable within one year are not amortised. -20-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Baslc flnanclal Ilabllldes Basic financial liabilities, including creditors and bank loans are Tniknally recognised at transaction price unless the aangernent constitutes a financing transaction. where Ihe debt instrument is mèasured at the present value of the future payments discounted at a market rate of interesL Finanual liabilities dassified as payable within one year are not amortised. Debt instruments are subsequendy (2rried at amorlised cos( uslng the effedive lTrte$t rate method. Trade creditor5 are obligations to pay for goods or services that have be8n acquired in the ordinary course of operation5 from suppliers. Amounts payable are dassffied as current liabilities if payment is due wlthln one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amorlised cost using the effeclive interest method. DerOgnftlon of flnanclal liabilities Financial liabilities are derecognised when the tharitls contractual obrtgations 8xpir8 or ar8 discharged or cancelled. 1.10 Taxation The company 15 a charity and is recognised as such by HM Revenue & Customs under the charity tax reference XR19886. As a result. there is no liability to taxation on any of its income. 1.11 Employee benefts The wst of any unused holiday entiuement Is recognised in the period in vthich the employee's services are received. Temination benefits are recognised immediately as an expense when the charity is demonstrably committed to tenninate the employment of an employee or to provide teminalion benefits. 1.12 Retirement beneffts Payments to defined (>)ntribution retir8m8nt benefft sd)8mes are charg&J as an expense as they fall due. Critical accounting estimates and judgements In the application of the chariws accounting policies. the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sour$. The estimates and asswated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reNiewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in vthich the estimate is revised where the revision affects only that period. or in the period of the revision and fuiure periods where the revision affects both current and future periods. -21-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacles Unrestrfcted Unrestricted funds funds Restricted funds Total 2024 2023 2023 2023 DonaUons and gifts 48,692 29.992 15.167 45,159 Donations and gifts Deparlment of Health - Speoal Rewgnition Award Other 15,167 15.167 29.992 48.692 29.992 48,692 29,992 15.167 45.159
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable acllvltles 2024 2023 Landlord management fee income Hostel service incorn8 Grant funding Rent receivable oth8T Income 90,512 74.869 56,264 52.908 3.966,542 3.682,122 1,363.803 1.273,564 36.508 36.693 5.513.629 5,120.156 Analysis by fund Unrestricted funds Restricted fvnds 1,519,555 1.422,534 3.994.074 3.697,622 5,513,629 5,120,156 Performance related grants NIHE Supporting People NIHE Dispersed Outreach Prtsjramme WHSCT Oak Foundation Public Health Agency- De Paul DOH Training NIHE Sustaining Tenancies NIHE Homeless Prevention Funding other 2.945,373 2.868,362 227,443 210,500 484,455 442,760 245.806 94,293 23.275 23.203 8.400 31290 15,659 27,345 500 3,966.542 3,682.122
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charltable acllvitles Expenditure Expendltura 2024 2023 Direct costs Staff costs Depreciation and impairmerrt ArKommodation rent and rates Accommodation heat. light and power Travelling and subsistence Premises security Maintenance costs Food budget Accommodation purchases Programme costs IT support Printing. postage and stationery staff training Telephone Advertising and recruitment Other costs 3,506,012 52,343 664,253 119,420 53,063 57,575 62,369 23,025 8,852 374 9,062 5.837 20.987 11.258 3,889 50,423 3.450,333 52,093 613.525 126.788 51.559 49,490 41,414 21,233 10,907 14,923 8,297 2.403 3.249 26,923 3,718 39.701 4.648,742 4,516.5 Share of support and governance costs (see note 6) Support Govemance 545,225 33,856 526,185 26,915 5.227,823 5,069.656 Analysls by fund Unrestricted funds Restricted funds 1,470,469 3,757,354 1.428,173 3.641.483 5227,823 5,069.656 -24-
FIRST HOUSINGAID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs 2024 Support Governance costs 2023 Staff costs Other support staff costs Central premises costs Central office costs IT support Bank charges Other costs 413J08 6,061 75,618 2.355 37.938 3.183 6.762 413.308 6,061 75,618 2,355 37,938 3,183 6,762 396.675 8.915 75,662 8.502 28,322 2,996 5,113 396.675 8.915 75,662 8,502 28,322 2.996 5,113 Audit fees Legal and professional 7.800 26.056 7.800 26.056 7.800 19.115 7.800 19,115 545,225 33.856 579.081 526.185 26,915 553,100 Analysed between Charitabl8 activities 545,225 33,856 579.081 526.185 26,915 553.100 Net movement in funds 2024 2023 The net [rVernent in funds is stated after chargingl(crediting): Fees payable for the audit of the charivs financral statements Depreciation of owned tangible fixed assets 7.800 52.343 7.800 52.093 Trustees None of the Trustees (or any persons connected with them) reiVed any remuneration. reimbursement of expenses or any other beneffts from the charity during the year.
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees Th8 average monthly number of employees during the year . 2024 Number 2023 Number 176 Employment costs 2024 2023 Wages and salaries Social security $ts other pension costs 3.541.050 315,234 63,036 3,465,245 318.508 63.255 3,919.320 3,847,008 The number of employees whose annual remuneration was £60.OIX) or more were: 2024 Number 2023 Number £60,001 to £70.000 10 Taxatlon The charity is exempt from taxation on ts activities because atl ib income is applied for charitable purposes.
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tanglblo fixed assèts Accomodatlon fumiture and equlwn•nt offl¢0 equipment Motor vehlcles Totsl Cost At 1 Aprrl 2023 Additions 1,246.271 25,553 439,224 2,493 15.850 1.701.345 28.046 At 31 March 2024 1.271,824 441,717 15,850 1,729,391 Depreclatlon and Impalmient At 1 April 2023 Depreciakn'on charged in the y8ar 1.216,809 16.105 366.999 36,238 15.850 1.599.658 52.343 At 31 Marth 2024 1.232.914 403.237 15.850 1,652.001 Carrylng amount At 31 March 2024 38.910 38,480 77,390 At 31 March 2023 29,462 72.225 101,687 12 Debtors 2024 2023 Amounts falllng due wlthln one year. Trade debtors Other debtors Prepaymants 167,666 317 37.249 145,168 317 35.776 205.232 181.261 13 Creditors.. amounts falling due within one year 2024 2023 Other taxation and social secuiity Trade creditors Other creditors Accruals 132,024 90,135 30.434 27.715 62.458 52,474 28.004 280,308 142,936 14 Retirement benefit schemes 2024 2023 Defined contribution schemes Charg8 to prorrt or loss in respect of defined contribution schemes 63,036 63,255 -27-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Retirement benefft schemes {Continued) The charity operates a defined contrlbutEon pension scheme for all qualifying employees. The assets of the scheme are held separately from those of Ihe charity in an independenuy administered fund. -28-
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FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designatsd funds whith hav6 been set aside out of unrestricted funds by the tnjstees for specific purposes. At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 457.833 1.568.247 (1.470,469) 91,384 646,995 Prevlous year: At 1 Aprll 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds 210,811 1.452.526 (1.428.173) 222,668 457,832 17 Analysis of net assets between funds Unrestrlcted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities} 38,657 608,338 38,733 624,558 77.390 1,232.896 646.995 663,291 1.310,286 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl(liabilibes) 47.391 410,441 54,296 577,146 101.687 987,587 457,832 631,442 1.089,274 18 Transfers between funds During the year there have been net transfers beleen funds in the amount of £91,384 from restricted funds to unrestricted funds made up as follows: £91,384 representing funding received for beds within Housing Benefit projects. Funding has been released from restricted funds to unrestricted funds to match against the associated expendtture. -32-
FIRST HOUSING AID & SUPPORT SERVICES LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Financial commitments, guarantses and contingent liabilities Certain grants received and receNable may become repayable to the fvnder rf the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies it may not b8 possible to quanttfy the potential financial effect or glve an indication of the timing as to the liabilities that may aris8. 20 Funds recefved as agent First Housing Aid and Support servIs (FHASS) acts as an agent on behalf of tenants Ilvlng in 8cGommodation applying for emergency loans, assisting wilh the application process and facililatlng the r8C8iPt of funds from the grant awarding body and subs4uent issue to the applicant. First Housing continues to value th8 strong relationships fostered with all grant awarding bodies and is grateful for th8 5UPPOrt afforded to their clients in resp8Ct of these emergency grants. During the year. the (*arity received incoming resources amounting to £10.418 from St. Martin in the Flelds, £1,945 from the Glasspwl Charity and £755 from Family Action. All amounts were paid out to tenants during the year. These amounts have not been reflected in the financial ststements for the year in accordance with the treatment recommended by the Statement of Recommended Practice 'Accounting and Reporting by Charities". 21 Related party transactions Other related party transactions There Vre no other relatsd party transactions during the year. 22 Cash generated from operations 2024 2023 Surplus for the year 221,012 95.659 Adjustments for. Depreciatlon and impairment of tangible fixed assets 52,093 Movements In working capttal: (Increase) in d8btors Increasel{decrease) in creditor5 (23,971) 137,372 {6.204) (56.928) Cash generated from operations 386,756 84,620 23 Analysis of changes In net funds The charity had no material debt during the year. -33-