The trustees present their annual report and financial statements for the period ended 30 June 2021.
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 memorandum and articles of association , 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)” (as amended for accounting periods commencing from 1 January 2016)
The objects are to:
(a) relieve the poverty and distress of young people who are suffering from the effects of homelessness or bad housing, or the threat of homelessness, particularly through a comprehensive housing aid and advice service; and
(b) advance education of the public about the needs of young people who are suffering from the effects of homelessness, bad housing or threatened homelessness; and
(c) the relief of unemployment for the public benefit, in particular young people, in such ways as may be thought fit, including assistance to find employment.
The principa l a ctivity of the charity, in meeting its objects, is supporting young people aged 16-30 years, in the transition to independent living. This is achieved through:-
- facilitating access to a network of employment/training services
- raising awareness and changing attitudes in the community in order to achieve a wider recognition that young people have valid housing needs.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The board are currently investigating charitable activities that meet the restrictions of th e restricted fund to enable the charitable objectives to be continued. In the absence of any suitable project(s) being identified by the board within a reasonable timescale, the remaining funds will be donated to another charitable organisation with similar objectives .
The unrestricted funds at the period end are overdrawn by £8,005. This relates to unavoidable statutory costs. The trustees are intending to seek advice from the Charity Commission regarding their options for meeting these costs.
The trustees have assessed the major risks to which the charity is exposed, on an on-going basis and where appropriate taken action to mitigate those risks.
None of the trustees ha ve any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The articles of association require one third of the trustees shall retire by rotation but may offer themselves up for re-election.
The board of trustees seeks to ensure the needs of young people are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has sought to identify young people and ex-clients who would be willing to become members of the centre and use their own experiences to assist the charity.
The more traditional business and financial skills are well represented on the board . In an effort to maintain this broad skill mix, the organisation holds up-to-date information on each member's skills and aptitudes. In the event of particular skills being lost due to retirement, individuals are approached to offer themselves for election to the board .
The charity is managed by a board of trustees headed by a chairperson, with a designated treasurer. Trustees live or work in the local area; have skills and expertise in the voluntary sector; local community groups; youth services; local business; financial sector management and possess the requisite skills for managing a charitable company .
The trustees' r eport was approved by the Board of Trustees.
It is your duty to ensure that Links Housing Advice and Support For Young People has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Links Housing Advice and Support For Young People. You consider that Links Housing Advice and Support For Young People is exempt from the statutory audit requirement for the period , and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Links Housing Advice and Support For Young People. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
Links Housing Advice and Support For Young People is a private company limited by guarantee incorporated in England and Wales. The registered office is St Matthews House, Haugh Lane, Hexham, Northumberland, NE46 3PU.
The financial statements have been prepared in accordance with the charity's governing document "Company Memorandum & Articles of Association", 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Acco m m - odation
Acco m m - odation
Accomodation
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
The average monthly number of employees during the period was: