LOUTH AND DISTRICT HELP FOR HOMELESS Registered charity Number: 1040466
Annual Report 2011-2012 Financial Annexe Contents 1. Financial Notes 2. Examiner’s Report 3. Accounts
Page 1 3 4
1. Financial Notes It may be useful to review some of the history, for those new to the charity’s activities. The original scheme was to give interest free loans to those seeking to rent affordable accommodation, where they were unable to find the sum of typically £700 for rent in advance, a deposit and an agreement fee. These loans are paid back at about £10 per month to replenish funds ready for other clients. In 2006 an anonymous donation of £500 (including the gift aid element) was made to allow the workers at the CAB to make small grants to clients, typically for bus fares to get to Lincoln or Skegness. This was extended from the main funds of the charity to allow similar actions by clergy and Housing Support workers, some of whom had been making such gifts from their own pockets. These small grant schemes for short term housing needs, including food vouchers, each with a nominal amount of £30, have been very active. They were extended with a scheme for greengrocery vouchers, and a further small fund to support the local “Nightstop” scheme for providing homeless young people with short term accommodation with volunteer families. The Community Larder scheme, set up in 2007, has been very successful and now needs essential full-time coverage as well as premises for storage. The administrative task and the accumulated fund were transferred to the Team Parish of Louth and are now based at Trinity Centre, supported by all the churches in the town as well as other organizations and of course LDHH. Most client repayments have continued faithfully at about £140 a month, following an increase in requests for loans in the year 09/10, but some £4,300 has had to be written off. This is a great increase on the previous year. The tendency in this financial year has been for more requests for loans, but these have often been for help in moving after eviction or in similar circumstances. No-one has been eligible for help from the funds made available to us by the Howe Fund, restricted to the disabled or elderly. The Charity has no premises, paid staff or vehicle. Main administrative expenses have been due to registration with the Information Commissioner, and items such as the PO Box, the telephone, and the
web site. The PO Box has now been closed due to significantly increased charges, thanks goes to the Team Parish Office of Louth who have received the incoming mail. Around £1000 has been kept on current account for immediate needs, with about £2000 on bank deposit at short notice, and a main reserve with COIF (Charities Official Investment Fund) at a better rate of interest (currently 0.841%, slightly up from 0.5%) than the usual clearing banks. It is not clear whether this rate of interest will continue. It is possible to take advantage of the “Gift Aid” scheme for recovery of any tax paid on funds donated by individuals, thus increasing donations by 20 pence (so far) for every pound given. We are most grateful to all who have supported financially this year. Bearing in mind that all our clients are, almost by definition, in a vulnerable situation financially, note should be taken of a small amount involved in “over-payments”, shown in the accounts, note 2. Only £60 now remains where we are unable to trace the creditors. We are asked to assess any potential risks affecting the charity. Three years ago we said that, based on the experience since inception, we were probably in a position to continue with support at the then current level even if all current loan clients ceased to repay. This is no longer the case, as demand is rising and donations have gone down. Even the anonymous donation of £3000 was entirely taken up in the significant increase in write-offs. The amount held in reserve has decreased slightly, and interest rates have remained very low. The formal accounts are given in the next section, following the format of previous years and the relevant guidance from the Charity Commission for small charities.
Louth and District Help for Homeless Statement of Assets and Liabilities as at 30 April 2012
Current Assets Debtors: loans due from clients Lloyds Bank Treasurer's A/c Lloyds Bank Business Call A/c COIF Charities Deposit Fund Cash and vouchers in hand External floats
NOTES
2012
2011
Note 1,4
£4,969.20 £1,380.30 £1,451.64 £16,259.67 £3.00 £47.00 ------------------£24,110.81 ===========
£7,244.20 £1,271.03 £1,080.72 £14,759.67 £25.07 £365.35 ------------------£24,746.04 ===========
£72.47 £60.00 ------------------£23,978.34 ===========
£0.00 £45.00 ------------------£24,701.04 ===========
2012 £1,582.75 £185.99 £22,209.60 ------------------£23,978.34 ===========
2011 £1,462.75 £458.99 £22,779.30 ------------------£24,701.04 ===========
Note 6
Current Liabilities Accruals – web cost Client loan overpayments
Note 2
Net assets
Status of General and Restricted Funds as at 30 April
Howe fund CAB fund General
Note 3 Note 3
Total
From receipts and payments a/c to 30 April
-£722.70
=========== Total
£23,978.34
This financial statement has been prepared from the books and records of Louth & District Help for Homeless, Registered Charity 1040466, in accordance with the Charities Act 1993 Part VI (as amended), and the Statement of Recommended Practice on Accounting for Charities (SORP 2005, appendix 5). Hon. Treasurer
Rev. Date: 16th July 2012
Louth and District Help for Homeless Receipts and Payments Account for the year ended 30 April Receipts Donations
From statutory bodies From trusts etc. From individuals Sub-Total Howe bequest Gift aid recovery
Events Interest received Total incoming funds
2012
2011
£350.00 £1,000.00 £3,280.00 £4,630.00 £0.00 £0.00 £461.00 £109.12 ------------------£5,200.12
£650.00 £1,200.00 £10.00 £1,860.00 £0.00 £0.00 £0.00 £87.76 ------------------£1,947.76
£180.00 £370.00 £585.35 £100.00 £4,267.00 £0.00 £188.77 £0.00 £0.00 £231.70 ------------------£5,922.82
£340.00 £364.00 £174.35 £100.00 £1,769.95 £0.00 £30.00 £0.00 £0.00 £262.20 ------------------£3,040.50
-£722.70 ===========
-£1,092.74 ===========
Payments Housing/moving Grants Food vouchers and larder food Transport & other small grants Night-stop & YP scheme support Housing loans written off Comm. Larder funds transferred Costs of events Equipment, kitchen Equipment, Comm Larder Administration
Note 7
Note 5
Total outgoing funds
Net incoming funds
Notes to the accounts:Year ending 30 April 2012 Note 1: Debtors net Outstanding loans at 1 May New loans and refunds paid out Total Less written off in year Repayments in year Total Loans Outstanding at 30 April net
Loans Outstanding at 30 April gross Total
General Howe fund £6,909.20 £290.00 £4,032.00 £0.00 ------------------- ------------------£10,941.20 £290.00 £4,267.00 £0.00 £1,935.00 £120.00 ------------------- ------------------£6,202.00 £120.00 ------------------- ------------------£4,739.20 £170.00 =========== =========== £4,799.20
See note 2 below for over and re-payments included in above
£170.00 £4,969.20
Note 2: Creditors Housing loans overpaid Balance as at 1 May Overpaid by clients Repaid to clients Balance as at 30 April
General Howe fund £50.00 £0.00 £60.00 £0.00 £50.00 £0.00 ------------------------------£60.00 £0.00 =========== ===========
Last year £30.00 £40.00 £20.00 ---------------£50.00 ===========
This year £1,462.75 £120.00 £0.00 £1,582.75
Last year £1,752.75 £619.95 £909.95 £1,462.75
Note 3: Restricted Funds (A) Howe Fund At 1s t May Repayments Grants & loans made At 30th April
(B) CAB fund (not vouchers) At 1s t May Gift aid recovery Apportioned interest Grants made Transfers At 30th April
At bank £313.99 £0.00 £12.00 -£140.00 £185.99
At CAB £145.00
-£285.00 £140.00 £0.00
Total £458.99 £0.00 £12.00 -£285.00 £0.00 £185.99
Note 4:
These accounts assume that all outstanding client loans will be repaid. Experience is that at least 30% must be written of, maybe more in future.
Note 5:
Includes PO Box fee (now closed), Information Commissioner fee, telephone and web.
Note 6:
Includes CAB food voucher, clergy, and housing assistance floats. Float movements in year to April 2012:
CAB Housing Housing St Matthew Night-stop PCW PCW
Vouchers Grants Vouchers Vouchers and YP Grants Vouchers
May 11 £110.00 £0.35 £35.00 £0.00 £0.00 £50.00 £25.00
Grants made £220.00 £151.35 £75.00 £0.00 £100.00 £50.00 £75.00
Top-ups £110.00 £198.00 £40.00 £0.00 £100.00 £0.00 £50.00
The total float figure in Assets includes the “at CAB” float in note 3 and the floats in note 6 above.
Note 7:
Although a completely accurate picture is not possible, an approximate usage of these grants is % Bedding 6 Clothing 4 Utilities 13 Utensils 18 Toiletries 2 Travel 26 Cleaning 2 Moving 29
April 12 £0.00 £47.00 £0.00 £0.00 £0.00 £0.00 £0.00