Charity registration number 1045334
Company registration number 02814950 (England and Wales)
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
LEGAL AND ADMINISTRATIVE INFORMATION
Operating Name
New Roots Housing Project
Company number
02814950
Charity number
1045334
Registered office
2 Overend Road
Worksop
Nottinghamshire
S80 1QF
Chair
Stuart West
Management Committee (Directors And Trustees)
J Griffiths
R Hobson
L Oldcorn
S West
J Barton
P Dickinson
Senior staff
Carol Scawthon
Senior Project Manager
Ian Barley
Business Coordinator
Vicky Baker-Shaw
Social Care Manager
Auditor
Rogers Spencer
Newstead House
Pelham Road
Nottingham
NG5 1AP
Bankers
Natwest
69 Bridge Street
Worksop
S80 1DJ
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
CONTENTS
Page
Trustees report
1 - 10
Statement of Trustees responsibilities
11
Independent auditor's report
12 - 15
Statement of financial activities
16 - 17
Balance sheet
18
Statement of cash flows
19
Notes to the financial statements
20 - 29
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The Management Committee (who are also directors for the purposes of company law) present their report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities


New Roots is a voluntary sector housing and young person’s support project registered as a company limited by guarantee and as a charity registered with the Charity Commission. Established in 1993, it operates mainly within Bassetlaw, but includes Newark and Sherwood and surrounding areas.

The organisation exists to provide support to the most vulnerable and disadvantaged young people who are homeless or vulnerably housed. It does this by providing a high standard of accommodation, a range of support services, including access to training, education and pre-employment opportunities.

 

Despite the challenges we have faced over the last several years due to the impact of the Covid pandemic, the cost-of-living crisis and the increasing pressures on the lives of young people we have continued to develop and expand our work.

 

The directors review the performance, aims and objectives of the Company every year to ensure compliance with the Charity Commission’s guidance on public benefit.

 

Core Services

Over the last year we have worked with over 150 children and young people across 4 key service areas that provide public benefit:

 

A mixed model of accommodation and support for young people 16-25years, with support levels that step up and down according to need. Providing a seamless journey. Purchased in block by Nottinghamshire County Council.

 

A mixed model of accommodation and support, with support levels that step up and down according to need. Providing a seamless journey. Purchased in block by Nottinghamshire County Council

 

A range of specialist accommodation with varying support options for YPP. Normally offered through DPS (Dynamic Purchasing Systems) and or funded through charitable grant income.

 

Floating Support offered as a final step in a YPP journey, supporting them to settle in new communities and establish their home. Responding to crisis and specific needs.

 

There are four core values that underpin our work:

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

The values drive the organisation and the services it delivers in the following ways:

 

 

Strategic Objectives:

  1. Maintain and continue to develop a strong effective and stable organisation

     

  2. Consolidating our core work and current model of delivery and expanding this offer to neighbouring authorities

     

  3. Development of new and specialist services that help to meet the increasing complexity of need of our client group, in particular to establish a parenting assessment unit

     

  4. Continuing to develop an asset base, by acquiring additional properties that will also support our mission.

 

Key Decisions

Key decisions taken this year by Trustees have included:

 

Risk Management

Trustees manage risk through regular review and assessment, which takes place at meetings and Trustee workshops. Information is presented to the Trustees to enable them to safeguard the Charity’s funds and assets. This includes consideration of reputational, environmental, financial, legislative, technological, governance, external and operational impact. Trustees accept that risk is an everyday part of charitable activity in the voluntary sector.

 

By managing risk effectively Trustees ensure that;

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

The Trustees have a risk management strategy which comprises:

 

For the period of April 2022 – March 2023 organisational risk increased with change and expansion of contractual requirements.

 

 

These risks were minimised through effective organisational leadership and financial management. We have been able to develop modern and flexible approaches to recruitment and implement intensive induction training and support processes. These curative steps along with an existing high functioning staff team, and excellent relationships with commissioners has enabled us to manage the transition safely and efficiently.

 

The long-term nature of the new public sector contracts will provide organisational and service stability, allowing us the space to develop innovative responses to the growing level of need we are facing from the young people we serve.

 

Collaboration and Partnership Work

To further improve services and strengthen our position we have continued to actively encourage positive partnerships and working arrangements with other voluntary and statutory agencies and continue to work collaboratively with Nottinghamshire Community Housing Association - a larger provider with very similar core values and ethos to enable tendering of cross district-wide delivery of provision. We continue to work in partnership with Centre Point, which gives us the credibility of being connected with a national organization along with a campaigning arm. We continue our close working relationship with North Notts College, Princes Trust, Remedy, Youth Service, Women’s Aid, REAL, Notts County Council, Nottinghamshire Police, CGL, BCVS and BHP.

 

Staffing Analysis

Explored a range of recruitment options, adopting a more value based approach that led us to test a range of methods. An investment of time and resources has enabled us to develop and broaden out the skills within the team, ensuring the organisation complies with the delivery of core contracts as well as allowing valuable specialisms to be utilised through alternative funding streams.

 

General maintenance continues to be delivered through our preferred contractor. This has demonstrated both cost benefit and an improvement in quality and consistency.

 

Staff have completed 154 units of training during the reporting period. Social Work Manager has achieved CUBAS assessor status, (replacing the outdated PAMS assessment tool) to facilitate completion of court reports, PEPs 1 and 2 and is working towards the attainment of MA in Advanced Social Work Practice.

 

New Roots was awarded Platinum status, recognised by Investors in People as one of the top 5% of employers in the UK.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -

How our activities deliver public benefit

Our main activities remain unchanged with all of our charitable activities focused on the provision of support and accommodation to homeless young people (and their children), those at risk of homelessness and those who cannot remain safely in the family environment for whatever reason and undertaken to further our charitable purposes for the public benefit.

 

Who used and benefited from our services?

Our aims and funding limit the services we provide to those between the ages of 16 and 25 (and their children) who will benefit from supported accommodation or support to remain in accommodation in Bassetlaw. Many of our beneficiaries are care leavers, looked after children, children subject to child protection plans, teenage parents, young offenders and those at risk of becoming “looked after” by Nottinghamshire County Council or any other ‘purchasing’ local authority.

 

In the period April 2022 to March 2023, we delivered services to 86 children and young people (this includes the number of service users on the 1st April 2022 plus the new starters throughout the year). The number of new starters during the period was 32.

 

Allocations continue to be made through the Family Services Supported Accommodation Panel (SAP). Priority continues to be given to young people to whom a statutory duty is owed. 84% of the referrals we accepted were in care, looked after or subject to social care intervention. The majority of referrals experience some level of emotional/mental health issues such as depression, anxiety, histories of self- harm and suicidal ideation.

 

We continue to work with partners to ensure limited resources and services are targeted to those young people in greatest need. In relation to this aim, New Roots continue to work flexibly in conjunction with Commissioners and Nottinghamshire County Council Family Services to accommodate emergencies as quickly as possible using properties according to need and appropriateness rather than a scheme criteria and quota.

 

Move On Support

Support and specialist intervention was provided to young people requiring additional transitional support when moving on from the project and for young people not necessitating or are suitable for New Roots accommodation but would still benefit from support. This support has enabled young people to maintain their independence, helping to prevent issues from escalating and reducing the risk of young people re-entering homeless services.

 

Volunteer Service

Our volunteer service stalled in development as a result of covid. However, We have recently reaffirmed our aspiration to develop in a dynamic and responsive way to provide further opportunities for young people to receive support as well as become volunteers themselves, giving back to other young people, the service and the wider community.

 

This year we have developed a partnership with Remedy, enabling young people (both within and outside of the service) to undertake volunteer activity as part of a restorative justice approach. Young People have been involved furniture reclamation – repainting the chicken shed and gardening.

 

Children’s Work / Parent Support

Our work with young parents and their children continues to develop. This year has seen a growth in the challenges faced by young people and the complexity of their needs and support requirements that impact on their ability to care for their child safely and appropriately.

 

As a result, there has been an increased need for Social Care intervention. New Roots has work cooperatively with young people and Social Care to reduce the risk of harm to their children, helping young parents develop their skills, knowledge and understanding, e.g. child development, recognising and responding to risk, home safety, healthy relationships work, building attachments with children, learning through positive play etc. to be able to keep children in their care. Prioritising the needs of children and advocating for their protection where necessary.

 

Opportunities for social interaction through interactive groups, ‘Baby Roots’ and other family-based activities have helped to reduce isolation, provided peer support and aided young people to build support and friendship networks and most of all develop aspirations for themselves and their children.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -

Life Skills, Education and Training

Lifewise is a programme that helps young people to develop skills that support them to live independent and successful lives as well as providing them with a recognisable entry level qualification.

 

Over the year, 31 young people received an accreditation through the Lifewise programme. 77 accreditations were achieved over the academic period.

 

Two service users have successfully enrolled at universities one at Sheffield and another at St Andrews, despite statistics which identify 38% of homeless young people have fewer than five A*to C GCSEs and only 14% of care leavers go to university, compared to 47% of all young people, Civitas (2023).

 

We also continue to benefit from The Rotary Club of Retford, which enables our young people to receive awards in recognition of their personal achievements. This is particularly rewarding for many of our achievers who do not always identify themselves how far they have progressed despite their difficult circumstances.

 

Specialist Construction Pre-apprenticeship Scheme

Funded by the Tudor Trust and delivered with the support of RICHDON this project continues to have a significant impact, bringing both benefits for the organisation and participant young people, not to mention other individuals living in the project and the wider community where our properties are based.

 

Young people involved in the project worked on properties that we took as derelict and uninhabitable, turning these into ten stunning self-contained flats with onsite offices which are now of great benefit to the service as well as significantly enhancing the local neighbourhood and fulfilling the governments “empty properties” agenda. Community member consistently remark on the difference it has made in reducing anti-social behaviour as the properties are no longer empty.

 

The young people learnt to apply basic, every day and work-based skills, such as:

 

Key Achievements

 

47 units of accommodation have been used flexibly to respond to the needs and risk issues presented by young people. Between 1 April 2022 and 31 March 2023. 81 young people were accommodated and/ or provided with holistic and person centred packages of support. Of the 30 young people who moved on from the service (90%) moved on from the service in a positive and planned way, achieving a positive outcome or one that they desired.

 

Our approach to working with young people is informed by our understanding of trauma and the impact of adverse childhood experiences. We view behaviour as expression of need and seek to understand what has happened to a young person.

 

Our support is strength based, needs led and person centred. This means we work with each person and explore with them, their experiences, needs, fears, hopes and wishes – building trusted relationships to enable young people to feel safe and secure enough to be open and honest.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -

 

 

 

 

 

To manage the increase in support units, New Roots restructured and redesigned the staffing model, creating additional opportunities for career progression, succession planning and ensuring staff are fully supported, recognized and rewarded for their contribution.

 

As part of this process, we created and implemented staffing support, peer supervision and learning hubs.

 

Working with our ICT partner we developed a tailor-made CMS system to enable us to record and manage information safely and appropriately, increase efficiency, improve the support provided and develop our ability to collect both quantitative and qualitative data to help better demonstrate our impact and the value of our work.

 

Extended Benefits

The benefits and results from the work of New Roots provide both social and economic value to local communities and society in general. New Roots works to address the underlying causes of homelessness and impact childhood trauma and adverse childhood experiences, as a result of our work we contribute to reducing:

 

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -

According to a recent impact analysis new Roots created 3.6 million pounds in public benefit:

 

Future Plans and Actions for 2023-2024

 

We have maintained an effective and highly skilled and functioning Board of Trustees that have provided effective governance throughout this period. We are seeking to increase the diversity and to appoint additional members with relevant and appropriate skills.

 

We will continue to prioritise the development of New Roots as a strong and stable organisation and as such will review, develop and implement realistic business plans and funding strategies.

 

Key aims will include:

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -

Social impact analysis and cost benefit analysis will be repeated on a regular basis to ensure the organisation is fulfilling its aims and can validate claims on the successes.

 

New Roots remains grateful for the support of trusts and individual donors, who continue to provide the resources for us to develop our work and increase the support available for children and young people. We would particularly like to thank, The Tudor Trust, Willamson Benevolent Trust, The Rotary Club of Retford and The Rotary Club of Retford Percy Law Memorial Fund.

Financial review

Income has increased from £1,137,094 to £1,890,131. Expenditure has also increased during the year from £1,070,643 to £1,604,052.

 

The balance sheet remains strong with net assets amounting to £1,139,498 (2022: £853,419) including unrestricted funds of £1,077,831 (2022: £800,839).

 

Continued success has not gone without its challenges, the Central Staff and Management Teams have continued to work both positively and tirelessly to develop the business whilst maintaining their Core Value. A remaining surplus balance of £286,079 up from £66,451 is a culmination of factors influenced by external market conditions and post covid effects resulting in an inability to recruit the right level and calibre of staffing, this despite a large amount of time and effort being subsumed throughout the year. Furthermore contract wins and extension to services with a focus on mobilisation and steady state running demands have not afforded time to extend the existing property portfolio nor purchase a new support vehicle. The Management Team and Trustees continue to work together finding solutions and new ways of working and are confident of improving the performance and achieving even greater results next year.

Reserves Policy

Reserves are defined as unrestricted funds that are freely available to spend on any of the charitable purposes.

Reserves should be held to service an unexpected need for funds, covering unforeseen day-to-day operational costs, a shortfall in income or to fulfil its obligations.

As a company limited by guarantee, reserves are set according to budgeted income. It is intended to mitigate against uncertainty relating to cash flow, to ensure that there are sufficient reserves to cover any financial shortfalls, to react to unexpected situations, to protect the Charities activities if expected income is not received and to retain continuity in relation to expected grant awards. The reserves policy is only acted on when cash flow permits, to meet our objectives.

Free reserves are £354,585 at the year end (2022: £227,034). Trustees will be looking at ways to increase this in the future.

 

Management Information

Reserve levels are reported as part of the monthly management accounts and presented to Trustees at each committee meeting. The CEO and Finance Manager are designated to raise any issues in relation to the level of reserves directly with the Trustees. The policy will be reviewed annually when budgets and activity for the year is planned.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -

Structure, governance and management

The Management Committee provides governance of the organisation with regular meetings taking place interspersed with planned sub-committee meetings when necessary. The committee are responsible for organisational strategy, policy review, business planning and supports the budget setting. They are increasingly involved in attending significant meetings and planning the future development of the organisation.

 

Trustees receive performance, financial, and operational information along with any other relevant reports to ensure the organisation is achieving its targets and meeting its charitable aims and objectives and protects the safeguarding of organisational assets. In relation to the Chief Executive Officer, the Committee act as a critical friend.

 

All members of the Management Committee give their time voluntarily and receive no benefits from the charity, claiming minimal expenses.

The Management Committee (Directors and Trustees), who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

L Davenport
(Resigned 7 June 2023)
J Griffiths
R Hobson
L Oldcorn
S West
J Barton
P Dickinson

Recruitment and appointment of trustees

The Charity carries out a skills audit of current trustees which identifies knowledge gaps within the board and then actively takes steps to recruit trustees accordingly.

Trustee induction and training

New members of the Board of Trustees will become familiar with the practical work of the charity after reading the Annual Report and will have received a copy of the Memorandum and Articles of Association and the latest financial reports.

 

Additionally, they are invited to attend induction training which covers the following areas:

Arrangements for setting key management personnel remuneration

The salary grade appropriate for each post will be set at the time of recruitment, based on the agreed job description and person specification. Grades will be reviewed by agreement or where there has been a significant variation in the post’s duties and responsibilities. Salary reviews will be based on comparison with roles of similar responsibilities within the voluntary and social care sector network.

Running of the organisation, including delivery of services, finance and human resources remain delegated to the senior management team.

 

As we continue to emerge from the COVID pandemic and head into both political and economic uncertainty the Trustees would like to thank both the Senior Staff and the teams for their leadership, support and commitment for continued success.

Auditor
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -

In accordance with the company's articles, a resolution proposing that Rogers Spencer be reappointed as auditor of the company will be put at a General Meeting.

The Trustees report was approved by the Board of Management Committee (Directors And Trustees).

S West
Chair
Dated: 22 November 2023
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
STATEMENT OF TRUSTEES RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -

The Management Committee (Directors and Trustees), who are also the directors of Worksop and Retford Housing Project Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Management Committee (Directors and Trustees) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the Management Committee (Directors and Trustees) are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- 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; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The Management Committee (Directors and Trustees) are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
INDEPENDENT AUDITOR'S REPORT
TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED
- 12 -

Opinion

We have audited the financial statements of Worksop and Retford Housing Project Limited (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the Management Committee (Directors and Trustees) with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Management Committee (Directors and Trustees) are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED
- 13 -
Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the Trustees report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

Responsibilities of Management Committee (Directors and Trustees)

As explained more fully in the statement of Trustees responsibilities, the Management Committee (Directors and Trustees), who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Management Committee (Directors and Trustees) determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Management Committee (Directors and Trustees) are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management Committee (Directors and Trustees) either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED
- 14 -

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MANAGEMENT COMMITTEE (DIRECTORS AND TRUSTEES) OF WORKSOP AND RETFORD HOUSING PROJECT LIMITED
- 15 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

24 November 2023
Melvin Bailey FCCA DChA (Senior Statutory Auditor)
Date
for and on behalf of Rogers Spencer
Chartered Accountants
Newstead House
Pelham Road
Nottingham
NG5 1AP

Rogers Spencer is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:
Charitable activities
3
1,821,515
43,000
1,864,515
1,133,572
Other trading activities
25,616
-
25,616
3,522
Total income
1,847,131
43,000
1,890,131
1,137,094
Expenditure on:
Raising funds
4
32,848
-
32,848
17,000
Charitable activities
5
1,538,583
32,621
1,571,204
1,053,643
Total resources expended
1,571,431
32,621
1,604,052
1,070,643
Net incoming resources before transfers
275,700
10,379
286,079
66,451
Gross transfers between funds
1,292
(1,292)
-
-
Net income for the year/
Net movement in funds
276,992
9,087
286,079
66,451
Fund balances at 1 April 2022
800,839
52,580
853,419
786,968
Fund balances at 31 March 2023
1,077,831
61,667
1,139,498
853,419

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 17 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:
Charitable activities
3
1,089,572
44,000
1,133,572
Other trading activities
3,522
-
3,522
Total income
1,093,094
44,000
1,137,094
Expenditure on:
Raising funds
4
17,000
-
17,000
Charitable activities
5
1,021,859
31,784
1,053,643
Total resources expended
1,038,859
31,784
1,070,643
Net incoming resources before transfers
54,235
12,216
66,451
Gross transfers between funds
148
(148)
-
Net income for the year/
Net movement in funds
54,383
12,068
66,451
Fund balances at 1 April 2021
746,456
40,512
786,968
Fund balances at 31 March 2022
800,839
52,580
853,419

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 18 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
983,501
847,145
Current assets
Debtors
11
460,217
32,130
Cash at bank and in hand
164,988
304,233
625,205
336,363
Creditors: amounts falling due within one year
13
(281,863)
(133,502)
Net current assets
343,342
202,861
Total assets less current liabilities
1,326,843
1,050,006
Creditors: amounts falling due after more than one year
14
(187,345)
(196,587)
Net assets
1,139,498
853,419
Income funds
Restricted funds
16
61,667
52,580
Unrestricted funds
1,077,831
800,839
1,139,498
853,419

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Management Committee (Directors And Trustees) on 22 November 2023
S West
Trustee
Company Registration No. 02814950
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
- 19 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
21
55,244
150,953
Investing activities
Purchase of tangible fixed assets
(174,039)
(120,461)
Interest received
530
22
Net cash used in investing activities
(173,509)
(120,439)
Financing activities
Repayment of bank loans
(9,242)
(10,061)
Interest and financing costs
(11,738)
(8,282)
Net cash used in financing activities
(20,980)
(18,343)
Net (decrease)/increase in cash and cash equivalents
(139,245)
12,172
Cash and cash equivalents at beginning of year
304,233
292,061
Cash and cash equivalents at end of year
164,988
304,233
Relating to:
Cash at bank and in hand
164,988
304,233
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 20 -
1
Accounting policies
Charity information

Worksop and Retford Housing Project Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 2 Overend Road, Worksop, Nottinghamshire, S80 1QF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Management Committee (Directors and Trustees) have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Management Committee (Directors and Trustees) continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Management Committee (Directors and Trustees) in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 21 -
1.5
Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

 

 

 

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided on tangible assets on a straight line basis on cost at rates calculated to write off the costs of each asset over its expected useful life as follows:

Freehold land and buildings
50 years
Plant and equipment
4 years
Fixtures and fittings
4 years
Computers
4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 22 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Management Committee (Directors and Trustees) are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Charitable activities
2023
2022
£
£

Grants

43,000
44,000

Rents and Young Persons Supported Accommodation Services income receivable

1,821,515
1,089,572
1,864,515
1,133,572
Analysis by fund
Unrestricted funds
1,821,515
1,089,572
Restricted funds
43,000
44,000
1,864,515
1,133,572
4
Raising funds
2023
2022
£
£
Fundraising and publicity

Consultancy fees

32,848
17,000
32,848
17,000
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 23 -
5
Charitable activities
2023
2022
£
£
Staff costs
727,810
599,044

Training costs

7,568
8,539

Staff travel costs

9,669
9,584

Insurance

11,614
8,243

Move-on units rents

133,687
111,380

Repairs and renewals

87,244
136,319

Council tax and water rates

9,268
12,015

Light and heat

38,277
21,420

Advertising, printing, postage and stationery

10,488
10,086

Telephone

25,550
12,077

Cleaning

11,822
7,923

Motor expenses

155
245

Equipment rental

5,386
1,778

Bad debts written off

50,641
(9,250)

Professional fees

6,935
9,934
Bank charges
472
426
Loan interest
11,738
8,282
Volunteer expenses
-
1,782
Activities and projects
4,068
7,740
Sundry expenses
23,509
10,495
Depreciation of fixed assets
37,683
32,769
IT software and consumables
21,737
9,936
Recruitment costs
14,127
-
Security costs
4,140
-
NCHA fees
268,064
-
1,521,652
1,010,767
Share of governance costs (see note 7)
49,552
42,876
1,571,204
1,053,643
Analysis by fund
Unrestricted funds
1,538,583
Restricted funds
32,621
1,571,204
For the year ended 31 March 2022
Unrestricted funds
1,021,859
Restricted funds
31,784
1,053,643
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 24 -
6
Management Committee (Directors And Trustees)

None of the Management Committee (Directors and Trustees) (or any persons connected with them) received any remuneration.

 

One member of the Management Committee (Directors and Trustees) received £nil (2022: £248) for the reimbursement of travelling expenses during the year.

7
Governance costs
2023
2022
£
£
Staff costs
35,831
32,310
Audit and accountancy fees
13,721
10,566
49,552
42,876
Governance costs includes payments to the auditors of £5,500 (2022 - £5,000) for audit fees.
8
Employees
Number of employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
28
19
Employment costs
2023
2022
£
£
Wages and salaries
660,145
553,720
Social security costs
47,234
30,131
Other pension costs
56,262
47,503
763,641
631,354
There were no employees whose annual remuneration was £60,000 or more.
Management Committee (Directors And Trustees)
None of the Management Committee (Directors and Trustees) (or any persons connected with them) received any remuneration or benefits from the New Roots Housing Project during the year.
One member of the Management Commitee (Directors and Trustees) received £nil (2022: £248) for the reimbursement of travelling expenses.
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 25 -
9
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2022
973,981
87,787
73,042
14,756
1,149,566
Additions
98,180
39,696
6,450
29,713
174,039
At 31 March 2023
1,072,161
127,483
79,492
44,469
1,323,605
Depreciation and impairment
At 1 April 2022
161,837
71,203
55,162
14,219
302,421
Depreciation charged in the year
18,151
8,174
6,977
4,381
37,683
At 31 March 2023
179,988
79,377
62,139
18,600
340,104
Carrying amount
At 31 March 2023
892,173
48,106
17,353
25,869
983,501
At 31 March 2022
812,143
16,584
17,881
537
847,145

 

11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
456,092
30,724
Prepayments and accrued income
4,125
1,406
460,217
32,130
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 26 -
12
Loans and overdrafts
2023
2022
£
£
Bank loans
195,845
205,087
Payable within one year
8,500
8,500
Payable after one year
187,345
196,587

The bank loan, is secured by way of a first legal charge over 2 and 4 Overend Road.

13
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans
12
8,500
8,500
Other taxation and social security
15,233
18,551
Trade creditors
244,067
95,510
Accruals and deferred income
14,063
10,941
281,863
133,502
14
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans
12
187,345
196,587
15
Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £56,262 (2022 - £47,503).

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 27 -
16
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 April 2021
Incoming resources
Resources expended
Transfers
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers
Balance at
31 March 2023
£
£
£
£
£
£
£
£
£
National Lottery Charities Board
11,301
-
(2,947)
-
8,354
-
(2,354)
-
6,000
Clothworkers
1,292
-
-
-
1,292
-
-
(1,292)
-
Help For Homeless
148
-
-
(148)
-
-
-
-
-
Tudor Trust
5,897
43,000
(25,348)
-
23,549
43,000
(28,778)
-
37,771
Gifts & donations - AGM awards
1,000
1,000
(2,000)
-
-
-
-
-
-
Homeless Link
20,874
-
(1,489)
-
19,385
-
(1,489)
-
17,896
40,512
44,000
(31,784)
(148)
52,580
43,000
(32,621)
(1,292)
61,667

The National Lottery grant was made to fund the initial purchase of a property on Overend Road, which has been refurbished and is being used both as supported accommodation for single young people and office accommodation. The grant is being written off in line with the depreciation policy.

 

Clothworkers and Help For Homeless money was fully utilised in the development and furnishing costs of the flats at 2 and 4 Overand Road. These costs have been capitalised and are being depreciated over the estimated useful life of the assets.

 

Tudor Trust - to fund a worker to offer effective experience for our most complex young people. Having a real workplace environment which equips our young people with meaningful skills and workplace experiences.

 

AGM Awards - awards given to service users who have excelled throughout the year.

 

Homeless Link funds the refurbishment of properties, movement represents depreciation charged.

WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 28 -
17
Analysis of net assets between funds

Unrestricted funds

Restricted funds

Total

Unrestricted funds

Restricted funds

Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
910,591
72,910
983,501
770,392
76,753
847,145
Current assets/(liabilities)
354,585
(11,243)
343,342
227,034
(24,173)
202,861
Long term liabilities
(187,345)
-
(187,345)
(196,587)
-
(196,587)
1,077,831
61,667
1,139,498
800,839
52,580
853,419
18
Operating lease commitments

Total future minimum lease payments under non-cancellable other operating leases are as follows:

2023
2022
£
£
Within one year
52,593
108,391
Between two and five years
157,778
-
210,371
108,391
19
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

20
Analysis of changes in net debt
At 1 April 2022
Cash flows
At 31 March 2023
£
£
£
Cash at bank and in hand
304,233
(139,245)
164,988
Loans falling due within one year
(8,500)
-
(8,500)
Loans falling due after more than one year
(196,587)
9,242
(187,345)
99,146
(130,003)
(30,857)
WORKSOP AND RETFORD HOUSING PROJECT LIMITED
NEW ROOTS HOUSING PROJECT
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 29 -
21
Cash generated from operations
2023
2022
£
£
Surplus for the year
286,079
66,451
Adjustments for:
Interest received
(530)
(22)
Interest on loan
11,738
8,282
Depreciation and impairment of tangible fixed assets
37,683
32,769
Movements in working capital:
(Increase) in debtors
(428,087)
(10,741)
Increase in creditors
148,361
54,214
Cash generated from operations
55,244
150,953
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