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REGISTERED COMPANY NUMBER: 02804567 (England and Wales)
REGISTERED CHARITY NUMBER: 1026620














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Coatham House
(A Company Limited by Guarantee)

Coatham House






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8 to 9

Notes to the Financial Statements 10 to 19

Coatham House (Registered number: 02804567)

Report of the Trustees
for the Year Ended 31 March 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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
Objectives and aims
The company is a charity and exists to provide public benefit by helping young, homeless people move towards successful independent living through the provision of temporary, managed accommodation, development of life skills and assistance with permanent resettlement.

The mission statement for Coatham House Projects is 'to accommodate, support and reintegrate homeless young people into society and to raise awareness of their plight'.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.


Coatham House (Registered number: 02804567)

Report of the Trustees
for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity has continued to build upon its core services in Redcar throughout 2023/24. We added new trustees and a new member of staff to increase the capacity of the charity in terms of its ability to meet the growing demand for those who are homeless in the town and those at risk of becoming homeless. We have worked hard with the current trustees on the governance structure and are taking a long-term view about the sustainability of the charity as we move forward in the current economic environment.

The manager, company members, trustees, staff and volunteers are all committed to the development and sustainability of the mission and increasingly recognise the nature of the crucial services that it delivers in Redcar at a time of real need.

The Charity has continued its progression in terms of meeting its core aims, which is that of putting a roof over an increasing number of heads in the town. We are now working with over 30 clients each week - those who are experiencing homelessness and those at risk of homelessness. We directly provide accommodation for 22 clients and support services for a further 10 clients. It is the support structure provided by a small and dedicated team that helps young people cope with homelessness and start the journey to gather the skills in order to access sustainable housing options in the future. The environment has proved very challenging as we adapted to moving on from the pandemic dealing with the deep cost of living crisis that has impacted deeply on our client group in an area already with high levels of deprivation. We have worked hard as a charity to bring more resources to the table in terms of improved grant donations and improved rental collection through some excellent support work and liaison with the local housing benefits. We continue to build up a solid working relationship with the local authority and still provide contracted work with Redcar and Cleveland Borough Council as part of a co-ordinated response to the homeless issue in the locality. We continue to build and expand our stakeholder network to enable the charity to get the best outcomes for the clients that we are engaged with.

This includes the ongoing development of personal development opportunities with local statutory and non-statutory agencies working with young people on cooking skills, sporting activities and mindfulness activity to improve the lives of our clients and we now offer a more wholistic and person led set of development pathways.

The trustees are now actively following a development plan to create more housing options to meet the growing need for safe and secure supported accommodation in the town from those in housing need. Sadly, homelessness in Redcar continues to rise and we see ourselves as a vital part of the multi-agency response to that challenge. The trustees have continued to invest in the staff team and our social media work alongside maintaining investment in our properties ensuring that the tenant experience is as good as we can make it. We continue to work in partnership with like-minded agencies to deliver an innovative response to the growing needs of the client group in Redcar. We intend to take up a High Street presence through the purchase and updating of the property at 15 High Street. This will become our base for service delivery from 2025, which is in partnership with the Keyfund.

The charity will continue to be part of the non statutory sector response to homelessness in the Redcar area doing what it was set up to do - house vulnerable young people on an increasing scale with increasing impact.

FINANCIAL REVIEW
Financial Review
During the year there has been a net outflow of resources amounting to £16,787 (2023: inflow £15,011). Total funds now stand at £560,051. There has been a net outflow of unrestricted funds of £23,617 and inflow of restricted funds of £6,830 The Statement of Financial Activities on page 7 shows the charity's income and how it has been spent during the year. Notes 2 to 4 to the accounts on pages 11 and 12 detail income received in the year and its source. The trustees are very grateful for all the support received.

The charity is largely dependent upon income from statutory sources, various trusts and other charitable sources. The Trustees have no reason to doubt that the charity will continue to attract sufficient funds. The major source of income has been housing benefit.

The organisiation aims to increase its income generation activities in the next financial year to assist with its self-sustainability.


Coatham House (Registered number: 02804567)

Report of the Trustees
for the Year Ended 31 March 2024


FINANCIAL REVIEW
Investment policy and objectives
Any funds which may be surplus from time to time are invested in deposit accounts to ensure that they are available to the charity when required.

Reserves policy
On reviewing the reserves policy, the Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be between 3 and 6 months of the resources expended on normal operating activities which equate to £53,250 to £106,500 in general funds. At this level, the Trustees feel that they would be able to continue current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. At present the unrestricted reserves are £548,402 but of this figure £458,997 related to fixed assets, therefore free reserves are £89,405 at 31 March 2024. The Trustees are committed to taking appropriate action to continue to obtain further funding to reach the targeted level of unrestricted funds and are sourcing further grant funding along with reviewing the activities of the trading subsidiary to optimize income generation.

FUTURE STRATEGY
The board recognises that the year has again provided a very challenging backdrop to the ongoing delivery of our services and dealing with the broader impact upon our client group. It has also changed the circumstances for fund givers with increased demand for funding at a time when resources to allocate have decreased. The board is committed to its funding strategy and is working on a clear impact statement to support our funding endeavours as we move forward.

The current board is looking at recruiting new members to oversee the delivery and sustainment of the organisations activities and impact. Coatham House aims to be a top quality player in the housing and homelessness sector in Redcar by creating an infrastructure for professional development moving forward.

The board are committed to continuing its core services and the development of the enterprise activities via its trading arm.

The trustees would like to recognise the work of the staff team, volunteers and all those stakeholders who continue to support the work of the organisation in Redcar.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 21 March 1993 and registered as a charity on 29 September 1993.

The company was established under a Memorandum of Association which established the objects and powers if the charitable company and is governed under its Articles of Association.

Recruitment and appointment of new trustees
Under the Articles, two trustees will stand down at the AGM but are eligible for re-election. The charity's trustees are reinstated from its membership, with a view to harnessing skills which are appropriate to its activities.

Organisational structure
The Board of Trustees meet at least six times a year and is responsible for the strategic direction of the charity. The day to day running of the charity is delegated to the manager and staff team. The manager attends and reports to all Board meetings and liaises with the Board if necessary.

Induction and training of new trustees
All potential new trustees are invited for a meeting with the manager and visit all the charity's projects to speak with staff and service users. They will meet with the chair and attend two board meetings as observers to get a flavour of what is involved prior to agreeing to act. All new trustees are issued with a copy of the Memorandum and Articles of Association, accounts, business plan and any other relevant information.

A skills audit is carried out every one to two years to ensure that appointments to sub groups within the board make best use of trustees' skills.

Coatham House (Registered number: 02804567)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
Through their regular involvement in the management of the charity the Trustees are aware of the major risks involved in running the charity and policies and procedures are in place to mitigate these risks. A business plan is in place to guide Trustees and is subject to review as appropriate. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02804567 (England and Wales)

Registered Charity number
1026620

Registered office
Charles Jolly House
1st Floor
5a High Street
Redcar
TS10 3BY

Trustees
David Robert Stones
Hazel Valerie Yare
Andrew Pettersen
David Eagle
Amanda McWilliams
Gursharan Hardeyal Singh (appointed 24/4/2023)

Company Secretary
David Eagle

Independent Examiner
JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

Solicitors
Cygnet Law
Portland House
West Dyke Road
Redcar
TS10 1DH

Bankers
Unity Trust Bank Plc
Nine Brindley Place
Birmingham
B1 2HB


Coatham House (Registered number: 02804567)

Report of the Trustees
for the Year Ended 31 March 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 28 October 2024 and signed on its behalf by:





David Eagle - Trustee

Independent Examiner's Report to the Trustees of
Coatham House

Independent examiner's report to the trustees of Coatham House ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Lynne Dickson FCA

JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

4 November 2024

Coatham House

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024

31/3/24 31/3/23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 41,089 29,200 70,289 53,971

Charitable activities 4
Supporting the homeless 355,357 - 355,357 320,056

Other trading activities 3 14,932 - 14,932 5,748
Total 411,378 29,200 440,578 379,775

EXPENDITURE ON
Charitable activities 5
Supporting the homeless 434,995 22,370 457,365 364,764

NET INCOME/(EXPENDITURE) (23,617 ) 6,830 (16,787 ) 15,011


RECONCILIATION OF FUNDS
Total funds brought forward 572,019 4,819 576,838 561,827

TOTAL FUNDS CARRIED FORWARD 548,402 11,649 560,051 576,838

Coatham House (Registered number: 02804567)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 458,996 - 458,996 446,421
Investments 12 1 - 1 1
458,997 - 458,997 446,422

CURRENT ASSETS
Debtors 13 35,529 - 35,529 62,602
Cash at bank and in hand 140,339 11,649 151,988 161,788
175,868 11,649 187,517 224,390

CREDITORS
Amounts falling due within one year 14 (20,635 ) - (20,635 ) (21,594 )

NET CURRENT ASSETS 155,233 11,649 166,882 202,796

TOTAL ASSETS LESS CURRENT
LIABILITIES

614,230

11,649

625,879

649,218

CREDITORS
Amounts falling due after more than one year 15 (65,828 ) - (65,828 ) (72,380 )

NET ASSETS 548,402 11,649 560,051 576,838
FUNDS 18
Unrestricted funds 548,402 572,019
Restricted funds 11,649 4,819
TOTAL FUNDS 560,051 576,838

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Coatham House (Registered number: 02804567)

Balance Sheet - continued
31 March 2024

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


The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2024 and were signed on its behalf by:





David Eagle - Trustee

Coatham House

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The trustees consider that there are no material uncertainties about Coatham House's ability to continue as a going concern and as such, these financial statements have been prepared on the going concern basis.

Income
All income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonably accuracy.
There is no netting off of expenditure within the accounts.

Gifts in kind are included within donations in the SOFA at an estimate of the cost of providing the service. The equivalent cost is also included within resources expended.

Grants towards fixed assets are treated as donations in the SOFA as the asset is capitalised in the Balance Sheet. The income is treated as a restricted fund and depreciation charged to it each year. Revenue grants are credited to the SOFA for the year to which they relate.

Expenditure
All expenditure is accounted for on an accruals basis and includes attributable VAT which cannot be recovered.
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.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities. It includes both costs which can be directly allocated to activities and those costs of an indirect nature necessary to support them.
Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Short leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation.
Cost includes costs directly attributable to making the asset capable of operating as intended.

Related party exemption
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Taxation
The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering the funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Pension scheme
The charity operates a fully insured, contributory defined contribution pension scheme for all employees. The charity contributions are charged to the SOFA in the period to which they relate.

2. DONATIONS AND LEGACIES
31/3/24 31/3/23
£ £
Donations 21,089 2,456
Grants 49,200 51,515
70,289 53,971

Grants received, included in the above, are as follows:
2024 2023
£ £
Ballinger Trust 20,000 15,000
County Durham Community Fund 5,500 -
Kickstart scheme - 7,515
Virgin Money Foundation; Power to Change 8,000 -
The Albert Hunt Trust - 14,000
Cleveland Fire Brigade - 15,000
Woodsmith Foundation 4,000 -
B&Q Foundation 5,000 -
Help the Homeless 5,000 -
Tees Valley Community Fund 1,700 -
49,200 51,515


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. OTHER TRADING ACTIVITIES
31/3/24 31/3/23
£ £
Miscellaneous income 14,932 5,748

4. INCOME FROM CHARITABLE ACTIVITIES
31/3/24 31/3/23
Activity £ £
Rents and housing benefits Supporting the homeless 324,157 283,856
Support services Supporting the homeless 31,200 36,200
355,357 320,056

5. CHARITABLE ACTIVITIES COSTS

2024 2024 2024 2023
£ £ £ £
Unrestricted Restricted Total Total
Costs allocated directly to activities:
Staff costs 158,416 - 158,416 148,292
Premises costs 87,748 21,267 109,015 70,429
Telephone, post stationery & advertising 2,439 - 2,439 1,439
Insurance 9,394 - 9,394 9,272
Travel & training 3,157 1,101 4,258 3,906
Sundry costs 2,098 - 2,098 2,801
Bad debts 39,979 - 39,979 43,458
Depreciation 2,423 2 2,425 2,892
Grants payable to subsidiary 37,607 - 37,607 7,515

Support costs (see note 6) 91,734 - 91,734 74,760
434,995 22,370 457,365 364,764

6. SUPPORT COSTS

2024 2024 2024 2023
£ £ £ £
Unrestricted Restricted Total Total
Staff costs 8,029 - 8,029 8,320
Premises costs 24,898 - 24,898 20,766
Telephone, post, stationery & advertising 15,918 - 15,918 13,218
Consultancy fees 22,041 - 22,041 20,004
Legal & professional fees - - - 100
Loan interest 5,081 - 5,081 3,244
Sundry costs 1,122 - 1,122 559
Governance costs:
- Staff costs 6,304 - 6,304 5,588
- Accountancy fees 2,808 - 2,808 2,808
- Legal & professional fees 5,533 - 5,533 153
91,734 - 91,734 74,760


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31/3/24 31/3/23
£ £
Depreciation - owned assets 2,425 2,892

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


9. STAFF COSTS
31/3/24 31/3/23
£ £
Wages and salaries 157,457 148,973
Social security costs 8,469 7,497
Other pension costs 6,823 5,729
172,749 162,199

The average monthly number of employees during the year was as follows:

31/3/24 31/3/23
Office 1 1
Hostel and Outreach 10 9
11 10

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,456 51,515 53,971

Charitable activities
Supporting the homeless 320,056 - 320,056

Other trading activities 5,748 - 5,748
Total 328,260 51,515 379,775

EXPENDITURE ON
Charitable activities
Supporting the homeless 317,494 47,270 364,764

Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £

NET INCOME 10,766 4,245 15,011


RECONCILIATION OF FUNDS
Total funds brought forward 561,253 574 561,827

TOTAL FUNDS CARRIED FORWARD 572,019 4,819 576,838

11. TANGIBLE FIXED ASSETS
Freehold Short Improvements
property leasehold to property
£ £ £
COST
At 1 April 2023 429,999 89,880 31,408
Additions 15,000 - -
At 31 March 2024 444,999 89,880 31,408
DEPRECIATION
At 1 April 2023 - 89,880 16,171
Charge for year - - 1,640
At 31 March 2024 - 89,880 17,811
NET BOOK VALUE
At 31 March 2024 444,999 - 13,597
At 31 March 2023 429,999 - 15,237

Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 April 2023 54,153 5,000 610,440
Additions - - 15,000
At 31 March 2024 54,153 5,000 625,440
DEPRECIATION
At 1 April 2023 52,968 5,000 164,019
Charge for year 785 - 2,425
At 31 March 2024 53,753 5,000 166,444
NET BOOK VALUE
At 31 March 2024 400 - 458,996
At 31 March 2023 1,185 - 446,421

Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. TANGIBLE FIXED ASSETS - continued

Tangible fixed assets includes a motor vehicle (net book value £nil), which was purchased using a grant from Help the Homeless.

The freehold properties were valued by the trustees at open market value as at 31 March 2024. The original cost of the freehold property was £361,673 (2023: £361,673).

A deposit of £15,000 has been paid in the year in respect of the purchase of a property, which has been completed in July 2024, at a total cost of £170,000.

12. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 April 2023 and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Coatham House Enterprises Limited
Registered office: United Kingdom
Nature of business: Lets accommodation to young people
%
Class of share: holding
Ordinary 100
31/3/24 31/3/23
£ £
Aggregate capital and reserves (342 ) (38,769 )
Profit for the year 38,427 4,545

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade debtors 29,624 17,896
Amounts owed by group undertakings - 38,585
Other debtors 52 52
Prepayments 5,853 6,069
35,529 62,602


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Bank loans and overdrafts (see note 16) 8,768 8,448
Trade creditors 2,539 865
Other creditors 1,137 5,560
Accruals and deferred income 8,191 6,721
20,635 21,594

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£ £
Bank loans (see note 16) 65,828 72,380

16. LOANS

An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due:
Within one year 8,768 8,448
Between one and two years 8,768 6,800
Between two and five years 26,163 20,400
More than five years 30,897 45,180
74,596 80,828

The above includes an interest-free loan awarded by the Quaker Housing Trust. The balance will be repaid over the next 5 years.

There is also a loan from Unity Trust Bank plc which is repayable by monthly instalments over 10 years at an interest rate of 9%.

Security has been given for amounts included in creditors of £52,546 (2023: £55,028).
The Unity Trust Bank plc has a charge over the property at 1 Bank Street, Redcar.

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/24 31/3/23
£ £
Within one year 7,750 13,150
Between one and five years 5,400 15,500
13,150 28,650


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS
Net
movement
At 1/4/23 in funds At 31/3/24
£ £ £
Unrestricted funds
Unrestricted funds 572,019 (23,617 ) 548,402

Restricted funds
Community Foundation 2 (2 ) -
Cleveland Fire Brigade 4,817 (4,817 ) -
County Durham Community Foundation - 2,750 2,750
Virgin Money Foundation; Power To
Change

-

6,899

6,899
Woodsmith Foundation - 2,000 2,000
4,819 6,830 11,649
TOTAL FUNDS 576,838 (16,787 ) 560,051

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Unrestricted funds 391,378 (414,995 ) (23,617 )
Ballinger Charitable Trust 20,000 (20,000 ) -
411,378 (434,995 ) (23,617 )
Restricted funds
Community Foundation - (2 ) (2 )
Cleveland Fire Brigade - (4,817 ) (4,817 )
County Durham Community Foundation 5,500 (2,750 ) 2,750
B&Q Foundation 5,000 (5,000 ) -
Tees Valley Community Fund 1,700 (1,700 ) -
Virgin Money Foundation; Power To
Change

8,000

(1,101

)

6,899
Woodsmith Foundation 4,000 (2,000 ) 2,000
Help the Homeless 5,000 (5,000 ) -
29,200 (22,370 ) 6,830
TOTAL FUNDS 440,578 (457,365 ) (16,787 )


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1/4/22 in funds At 31/3/23
£ £ £
Unrestricted funds
Unrestricted funds 561,253 10,766 572,019

Restricted funds
Community Foundation 574 (572 ) 2
Cleveland Fire Brigade - 4,817 4,817
574 4,245 4,819
TOTAL FUNDS 561,827 15,011 576,838

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Unrestricted funds 328,260 (317,494 ) 10,766

Restricted funds
Ballinger 15,000 (15,000 ) -
Community Foundation - (572 ) (572 )
Kickstart 7,515 (7,515 ) -
The Albert Hunt Trust 14,000 (14,000 ) -
Cleveland Fire Brigade 15,000 (10,183 ) 4,817
51,515 (47,270 ) 4,245
TOTAL FUNDS 379,775 (364,764 ) 15,011

A grant of £20,000 from Ballinger has been used to fund core costs during the year.

The remainder of the grant from Cleveland Fire Brigade, together with new grants from County Durham Foundation, B&Q, Tees Valley Community Fund, Woodsmith Foundation and Help the Homeless have contributed towards the costs of refurbishment work carried out on the hostel and other property used for Charitable activities. £2,750 (County Durham Community Foundation) and £2,000 (Woodsmith Foundation) remains unspent at 31 March 2024 and will be carried forward to meet costs in 2024/25.

£8,000 has been received from the Virgin Money Foundation Power to Change for participation in the Leading the Way programme and will be used to develop leadership skills within the organisation. £6,899 will be carried forward to be used in 2024/25.


Coatham House

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

20. STATUTORY INFORMATION

Coatham House is a company limited by guarantee and has no share capital.
The company is registered in England and Wales and its registered number and office address can be found within the 'Reference and Administrative Details' of the Report of the Trustees.