HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
A REGISTERED CHARITY
REPORT AND ACCOUNTS
31ST MARCH 2024
Company Registered Number: 2630447
Charity Registered Number: 1007875
Registered Social Landlord Number: H4310
Fawley Judge & Easton
Chartered Certified Accountants
Statutory Auditors
1 Parliament Street
Hull
HU1 2AS

HULL RESEThLEMENT PROJECT LIMITED
BY GUARANTEE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Page
Company Information
Trustees Report
Report of the Auditors
Income and Expenditure A￿OUnt
9-10
Balance Sheet
11
Cash flow staternent
12
Notes to the Financlal Statements
13

HULL RESEThLEMENT PROJECT LIMITED
BY GUARANTEE
COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024
TRUSTEES AND DIRECTORS:
R. W. Batty (Chairman}
l. Agius
Hon Ald. R. Jones (Resigned- January 2023)
Cllr D. Kirk
Cllr G Kennett
P Rodmell {Appointed 6 September 2023}
COMPANY SECRETARY:
J. A. Black
REGISTERED OFFICE:
20 Bourne Street
Freetown Way
Hull
HU2 8AE
COMPANY REGISTERED NUMBER:
2630447 (England and Wales)
CHARITY REGISTERED NUMBER:
1007875
REGISTERED SOCIAL LANDLORD NUMBER:
H4310
AUDITORS:
Fawley Judge & Easton
Chartered Certified Accountants
Statutory Auditors
1 Parliament street
Hull
HU1 2AS
BANKERS:
National Westminster Bank
PO Box No. 944
34 King Edward Street
Hull
HU1 3YN

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
The trustees who are also dir8clors for the purpose of the Companies Act 2006 present their report and accounts for the year
ended 31st March 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a private company limited by guarantee (registered number 2630447), a registered charity (number 1007875)
and a registered social landlord with the Homes and Communities Agency (number H4310) governed by its Memorandum and
Articles of Association.
Trustees are recruited from the local community. There are 6 Directors appointed to the Board who also act as Trustees as
outlined in the Charit18s Act 2011- becoming or ceasing to be a member as outlined in Section 17 of the Memorandum and
Articles of Association agreed al the Board Meeting on 16th March 2016.
Trustses are provided with training as considered necessary to supplement their exisling skills.
The trustees meel quarterly to administer the charity. They are supported by the company secretary. Mr J. A. Black, who
manages the day to day operation of the charity supported by paid staff.
OBJECTIVES
The main object of the charity is the care and support of homeless and other disadvantaged persons who are in need of help
to acquire a settled way of life by providing, developing and maintaining short term residential accommodation or similar
facilities. To further assist those accommodated by way of advice or counselling and any other form of aid to acquire
employment, more permanent accommodation. education and any other benefit to assist them towards a more settled way of
living in the community.
When planning the activities for the year the trustees have considered the Charily Commissioners Guidelines on public benefit
and how these activities will contribute to the charities aims and objectives.
The trustees have complied with the duty in Seclion 4 of the Charities Act 2011 to have due regard to the public benefit
guidance as published by the Charities Commission.
REVIEW OF DEVELOPMENT. ACTIVITIES AND ACHIEVEMENTS
The activities of the company consist of Ihe management of five hostels for single homeless persons in Hull at Bourne Street,
Russell Street, Rawling Way, 27 Sykes Street and 213 Anlaby Road. Together with second st8ge supported housing at 537
Anlaby Road.
During the year under review the charity has also run a project to assist residents of the hostels with independent
accommodation.
This report relales to the twenty first accounting period since the incorporation of the company. The financial perf0mlan￿ of
the company has matched the expeclalions of the Business Plan and the company has met requir8ments of its principal
funding body, the Hull City Council.
FINANCIAL REVIEW
The financial statements are set out elsewhere in this report. The total income for the charity during the year under review was
£2.138,293 in the form of Housing Related Support Funding. Housing Benefit and investment gains.
£1,666,058 was spent on the charitable objects and management and administration leaving a surplus for the year of
£472.235 which has been transferred to designated reserves.
In the year under review Ihe pension is in a surplus position of £885,000 compared to a surplus in 2023 of £707,000.
The total reserves at 31st March 2024 amount to £5,655.953 after incorporating the pension surplus of £885,000
In the current economic climate, the stock exchange indices upon which the majority of the investments are valued has
reduced and may increase the pension deficit. As this has occurred after the year end it is nol accounted for in the financial

statements. In view of the directors Ihis is not a permanent reduction in value.
Surpluses and reserves are not distributable to the members.
HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
FUTURE DEVELOPMENT
The charity intends to look at developing further services to assist the resettlement of former residents once it has
achieved a steady funding stream.
RESERVES POLICY
The Irustees seek to maintain a level of free reserves (that is funds not tied up in fixed assets and rèstricted funds) that
will enable the charity to sustain its operation over a period when the income géneration maybe curtailed temporarily or
permanently. The trustees consider the most appropriate level to be 12 month's expenditure on charitable objectives
and management of the organisation.
RISK STATEMENT
The trustees are reviewing the major risks to which the charity is exposed. Internal risks are minirnised by the
implementation of procedures for authorising 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.
MEMBERS
The members of the company are the serving trustees listed on page 2.
DIRECTORS
The directors, who are also trustees for charity law purposes, during the year covered by this report were those listed on
page1.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trusleas {who are also the directors for the purposes of company law) are responsible for preparing the Report of
the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted
Accounting Practice.
Company law requires the trustees of the charitable company to prepare accounts for each financial year which give a
true and fair view of the slate of affairs of the charitable company and of the surplus of the charitable company for that
period. In preparing those accounts. the trustees are required to:
Select suitable accounting policies and then apply them consistently-
Observe the method and principles with Accounting Requirements for Registered Social Landlords General
Determination 2006",
Make judgemènts and estimates that are reasonable and prudent-
Prepare Ihe accounts on Ihe going concern basis unless it is inappropriate to presume thal the company will
ontinue in business.
The trustees are responsible for keeping proper accounling records which disclose with reasonable accuracy at any
time the financial position of the company and to enable them lo ensure that the accounts comply with the requirement
of the Companies Act 2006, the Housing Regeneration Act 2008 and the Accounting Requirements for Registered
Social Landlords Delemiination 2006. They are also responsible for safeguarding the assets of the company and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
STATEMENT AS TO THE DISCLOSURE OF INFORMATION TO AUDITORS
So far as the truste8s are aware, thera is no relevant information (as defined by Section 418 of the Companies Act
2Q061 of whiGh the charitable company's auditors are unaware, and each trustee has tsken all the steps that they ought
to have taken as a trustee in order to make them awaré of any audit information and to establish that the charitable
Company's auditors are aware of that infomiation.
AUDITORS
Messrs Fawley Judge & Easton will be proposed for re-appointment as auditors in accordance with Section 385 of the
Companies Acl 2006.
This report has been prepared in accordance with the Statement of Recommended Practice - Accounting by Registered
Social Landlords.
By order of the Board
A. Black
Company Secretary
Date 27 August 2024

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
Opinion
We have audited the financial statements of Hull Resettlement Project Ltd (the "Charity"I for the year ended 31st March 2023 which
comprise the statement of financial activities. the summary income and expenditure account, the balan￿ sheet, the statement
of cash flows and notes to the financial stalemenls, including significant accounting policies. The financial reporting framework
thal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable An 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 Charity's affairs as at 31 March 2024 and of its incoming resources and
application of resources for the year then ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿.,
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 {UKI IISAS (UKI} and applicable law. Our
responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of th8 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 Slandard, 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 casl significanl doubl on the charity's ability lo continue as a going concem for a period of at
least Iwelve mc)nths from when the financial statemenls are authorised for issue.
Our responsibilities and the responsibilit18s of the Trustees with respect to going concem are described in the relevant
sections of this report.
Other information
The other information comprises the information included in the annual report olher than Ihe financial statements and our
auditor's report Ihereon. The Trustees are responsible for the other information contained within the annual report. Our opinion
on Ihe financial statements does not cover the other information and we do not express any form of assuran￿ conclusion
thereon. Our responsibility is to read the olher 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 apparenl material misstatements, we are required lo
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.
Matters on which we are required to report by exceptlon
We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to report lo 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 the trustees
As explained more fully in the statement of Trustees, responsibilities. Ihe 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 inlemal control as the Trustees determin8 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
stalemenls, the Trustees are responsible for assessing the charity's ability lo continue as a going concem. disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend
to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charilies Acl 2011 and report in accordance with Ihe Act and
relevant regulations made or having effect thereunder.
Our objectives are to obtain r8asonable assurance about whether the financial statements as a whole are free from material
misstatement. whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assumnce
is a high level of assurance but is not a guarantee that an 8udil conducted in accordance with ISAS IUKI will always detect a
material misstalemenl when it exists. Missl8tements can arise from fraud or error and are considered material if. individually or
in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users laken on the basis of these
financial stalemenls.
The extent lo which our procedures are capable of detecting irregularities, including fraud. is detailed below.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding
of how fraud might occur, by making enquiries of management and considering the intemal Controls in place to mitigate risks of fraud
and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, wa..
perfomied analytical procedures lo identify and unusual or unexpected relationships;
lesled journals entries lo identify unusual transactions.,
assessed whether judgements and assumptions made in detemining the accounting estimates were indicative of potential
bias," and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included, bul
were not limited to..
agreeing financial statement disclosures to underfying supporting documentation-,
enqUi￿ng of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
Due lo the inherent limitations of an audit, there is a risk that we will not delect all irregularities. including those leading to a material
misstalemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance wilh a law
or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely tri become
aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with
laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if
any.
The risk is also greater regarding irregularities occurring due to fraud rather than e￿Or, as fraud involves intentional concealment,
forgery, wllusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Ilwww.frc.org.ukl
auditorsresponsibilities. This description fomis part of our auditorfs report.

This report is made solely lo the company s members, as a body, in accordance with section 391 of the Companies Act 2014.
Our audit work has been undertaken so that we might state to the company s members those matters we are required to state
to them in an auditor's report and for no other purpose. To the fullesl extent permitted by law, we do not accept or assume
responsibility lo anyone other than the
pany and the company's members as a body, for our audit work. for this report, or
for the opinions we have fomed.
Jonathan Leathl
Senior Statutory Auditor
Fawley Judge & Easton
Statutory Auditor
1 Partiament Street
Hull
HU12AS
Date 27 August 2024

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2024
Notes
Total
2024
Total
2023
Turnover
1,955,018
1.645.731
Operating expenditure
{1,664,682)
(1,388,666)
Operating surplus
290,336
256,925
Interest receivable
14,127
9,986
nterest payable
(1,376)
(841)
Investment GainsllLosses}
169.148
(65,332)
Surplus on ordinary activities for the period
£472,235
£200.738
Pension Iloss)Igain in period
178,000
392,000
Total comprehensive income for Ihe year
£650,235
£592,738
All amounts relate to continuing activities.
(Tenant SeNices Authority copy only}
pproved on behalf of the Board on Date 27 August 2024)
R. Batty- Chairman
The notes on pages 10 to 17 form part of these financial slatements

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
ASSOCIATION STATEMENT OF CHANGES IN RESERVES
FOR THE YEAR ENDED 31ST MARCH 2024
Income and
Expendilure
reserve
Restricted
Reserve
Total
Balance as at 1st April 2022
4,412,980
4,412,980
Transfer beiween funds
Total comprehensive inGome for the year
592,738
592,738
Balance as at 31st March 2023
5,005,718
5,005,718
Totsl comprehènsive income for the year
650,235
650,235
Balance at 31st March 2024
£5,655,953
£- £5,655,953
10

HULL RESEThLEMENT PROJECT LIMITED
BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
AS AT 31ST MARCH 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
1.192,448
3.623,851
1,200,396
3,283,229
4.816,299
4,483,625
Current assets
Stock
Debtors
Cash al bank and in hand
250
206,356
518,497
250
80,609
428,629
Total current assets
725,103
509.488
Creditors: amounts falling due
within one year
10
169.208)
159.3951
Net current assetslliabilities
655.895
450,093
Total assets less CUTrent Ilabilities
5.472,194
4.933,718
Creditors: amounts falling due after
more than ono year
{701,2411
1635,0001
PROVISION FOR LIABILITIES
Pension surplus
885,000
707.000
NET ASSETS INCLUDING PENSION DEFICIT
5,655,953
5.005,718
FUNDS OF THE CHARITY:
Share capital
Income and expenditure account
Restricted fullds
12
5,655,953
5.005,718
TOTAL CHARITY FUNDS
S,655,953
£5,005.718
The members have not deposited notice. pursuant lo Section 476 of the Companies Act requiring an audit of these financial
stslements.
The trustees acknowledge their responsibilities for..
lal
ensuring that the charity keeps accounting records that comply with Section 386 and 387 of the Companies Act and
Ibl
preparing financial statements which give a true and fair view of the slate of affairs of the charity as at the end of each financial
year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 ￿lating lo financial statements, so far as applicable to the charity.
financial statements were approved by the Board of Trustees on 27 August 2024 and signed on its behalf by..
R. Balty- Chaimian
Registered Company Number 2630447
The notes on pages 10 to 17 form part of these financial statements

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST MARCH 2024
2024
2023
Note
Cash flows from operating activities
Cash (absorbed by)Igenerated from
operations
16
274,995
248,169
274.995
248.169
Investing activities
Purchase of tangible fixed assets
Purchase of investments
30,291
154,659
82.994
Net cash g9nerated from Investing activities
184,950
82.994
Net decrease in cash and ¢a$h equlvalents
90,045
165,177
Cash and cash equivalents at the beginning of the year
428,452
263,452
Cash and cash equivalents at the end of the year
£518,497
£428,629

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES
Accounting convention
The financial statements of the group and association are prepared in accordance with UK Generally Accepted
Accounting Practice IUK GAAPI including Financial Reporting Standard 102 IFRS 102) and the Housing SORP 2014=
Statement of Recommended Practice for Registered Social Housing Providers and comply with th8 Accounting Direction
for Private Registered Providers of Social Housing 2015.
Income
Government grants
Grants of a revenue nature are crèdited to income in the p6riod to which they relate.
Social housing letting income indudes Supporting People ISP) contract income received from Administering
Authorities plus support charges to individual tenants (including housing benefit). When accounted for as a part of
rent received the income is shown in income from social housing lettings. A related cost is shown as direct
expenditure in expenditure from social housing lettings.
Floating support scheme income is included in non-social housing activities.
Donations
Donations are crediled to income in the year in which they are receivable.
Charftable expenditure
Expenditure is recognised once there is a legal or constructive obligatson lo transfer economic benefit to a third paty, il is
probable that a Ir8nsfer 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 lo more than one activity and support costs which are not attributable to a single
activity are apportioned between those activities on a basis consistent wilh 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.
Resources expended are charged on an accruals basis, inclusive of irrecoverable Value Added Tax. Direct charitsble
expenditure comprises those costs dire¢dy incurred in pursuance of the Company's charitable activities. where the costs
righuy belong lo more than one activity an appropriate proportion is charged to each activity. Governance costs includes
expenditure which is incurred meeting the conslitulional and statutory requirements of the charity
Tangible fixed assets
Tangible fixed assels are initially measured al cost and subsequently measured at cost or valuation, net of depreciation
and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual vaSues over their useful
lives on the following bases-.
Fre8hold property
Leasehold property alterations
Office equipment. Hostel Furniture. Kitchen and Washing Equipment
IT Equipment, Television, FridgelFreezers
Motor Vehicles
Impaimient review
15 years
5 years
2 years
5 years
Restricted funds
Income received from Public Sector Bodies and similar organisations are separated and treated as restricted
funds.
Expenditure incurred in relalion to the restricled funds is calculated in accordance with the claims for
funding made by the Company.
13

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
ACCOUNTING POLICIES (continued)
Designated funds
There are presently 6 such funds-
The Renewals fund
This designated fund was set up by the board after considering a Ihird paty report on the long term
maintenance of the buildings and the replacement of fumiture and fixtures. It takes the form of a 7 year planned
maintenance and renewal fund and will ensure that the necessary resources are available to enable the board
to maintain the fabric of the building, wilhin the term of the lease, and its contents to a high standard. Its
creation has been accepted by the Company's principal regulalory body the Tenant Services Authority.
Contingency fund
This designated fund was set up by the Board to enable the Company to have sufficient funds for it to meet its
obligations, both fiscal and slalutory, should Ihe Company cease to operate.
Sinking Fund
This designated fund was set up by the Board to enable the Company to provide for the long lem repair
obligalion of the Company's assets and lo meel its obligations under the terms of the lease of the premisas
following its registration as a Housing Associalion. An additional Sinking Fund was set up in the year in respect
of 537 Anlaby Road to sat aside £45,000 in a 15-year period.
The Responsive Repair Fund
This designated fund was set up by the Board following the consLtltation with the architects regarding the slate
of repair of the building. A programme of worf( was recommended over a 5-year period. Funds are being sat
aside as indicated by the Company's business plan.
The Leasehold Propety Fund
This designated fund represents funds set aside to provide for the depreciation of the leasehold propety
alterations over a period of 15 years. A transfer equivalent to the depreciation charge less any furthar addition
will be made annually.
Stakeholder Pension Fund
This designated fund represents monies set aside to make additional provision for pension payments to
employees riot eligible to join the Local Government Scheme. New employees will be required to join the
Company stakeholder pension scheme or make their own provision for pensions which may not be as beneficial
as the Local Government Scheme.
Financlal instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues, of FRS 102 lo all of its financial instruments.
Financial instrLJments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of th8 instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statemenls, when there
is a legally enforceable right lo sel off the recognised amounts and ther8 is an intention lo settle on a nel basis or
to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at Iransaction
price including transaction costs and are subsaquently carried at amortised Gost using the effective interest
method unless the arrangemenl constitutes a financing transaction, where the Iransaction is measured at the
present value of the future receipts discounted at a market rate of interest. Financial assets classified as
receivable within one year are not amortised.
14

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
ACCOUNTING POLICIES (continued)
Basic financlal liabilities
Basic financial liabilities, inclLJding creditors and bank loans are initially recognised at transaction price unless Ihe
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of
the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one
year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effeclive interest rat8 method.
Trade creditor5 are obligations lo pay for goods or services that have been acquirèd in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilitios are deracognised when the charity's contractual obligations expire or are discharged or
cancelled.
Employee beneflts
The cost of any unused holiday entitlement is recognised in the pariod in which the employee's servicas are
re￿ived.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to
temiinate the employment of an employee or to provide termination benefits.
Critical accounting eslimates and judgements
In the application of the charity's accounting policies, Ihe Trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities Ihat 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. R8visions 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.
15

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
ACCOUNTING POLICIES (continued)
Pensions
The Local Government Scheme operated on behalf of the Company is now closed to new entrants. This scheme
is a defined benefit scheme and the assets of the scheme are held separately from those of the Company.
Contributions lo this fund are charged to the profit and loss account so as to spread the cost of pensions over the
employees, working lives. The regular cost is attributed to individual yaars using the projected unit credit method.
Variations in pension cost, which are identrfied as a result of actuarial valuations, are amortised over the average
expected remaining working liv85 of employees in proportion to their expected payroll costs. Differences between
the amounts funded and the amounls charged lo the profit and loss account are treated as either accruals or
prepayments iri the balance sheet.
In August 2011 the Company introduced a Stakeholder Pension Scheme for those staff not eligible to join the
Local Government Pension Scheme. As stated above all new employees will be required to join the above or
make their own pension provision.
TURNOVER, OPERATING COSTS AND OPERATING SURPLUS
Cost of
Sales
Operating
expenditure
Operating
Surplus
Turnover
Social housing lattings (note 31
1,955,018
1,643,203
21.697
290,336
£1,955,018
£1,643,203
£21,697
£290,336
2024
2023
Operating surplus
Is stated afler charging:
Auditors remuneration (including VAT)
Depreciation of tangible fixed assets
4,750
38,237
4,450
34,945
16

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
INCOME AND EXPENDITURE FROM SOCIAL HOLDING LETTINGS
Supported Housing
2024
2023
Renl receivable net of identifiable service charges
Service income
Revenue grants
Capital grants
1,155,223
90,999
623,363
85,433
928,217
66,063
621,311
Turnover from social housing lettings
£1,955,018 £1,645.591
Management
Routine maintenance
Other cosis
21,697
146,272
1,496.931
21,110
58,715
1,308,841
Operating expenditure on social housing lettings
£1,664,682 £1,388,666
Operating surplus on social housing lettings
£290,336
£256,925
Void lossas
22,343
14,716
Social housing accommodation- bed spaces
73
73
TAXATION
As a charity the company is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988
or Section 256 of thé Taxation of Chargeable Gains Act 1992 to the extent that those are applied to ils charitable
objects- no tax charges have arisen in the charity.
INTEREST PAYABLE AND SIMILAR CHARGES
2024
Total
2023
Total
Pension net retum on assets
Bank Charges
1.376
17

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
EMPLOYEE INFORMATION
There were no employees who earned in excess of £60.000 during the year.
The average number of persons employed by the Company during the year was as follows:
2024
No
2023
Floating support workers
Management
Administration
Hostel support workers
21
21
26
26
Staff costs (for the above persons)
Wages & salaries
Social security
Other pension costs
885,284
86,720
67,465
864,222
80,720
91,163
£1,039,469
£1,036,105
None of the trustees received any emoluments or expenses from Ihe company during the year or the previous year.
Indemnity insurance is not laken out to cover Ihe potential liability of trustees.
TANGIBLE FIXED AssEfs- HOUSING PROPERTIES
Freehold
Property
Leasehold Plant, vehicles,
Alterations Equipment etc
Furniture &
Fittings
Totsl
Cost:
At 1 SÉ April 2023
Additions
Disposals
868,699
576,020
98,993
3.852
77,353
26,439
1,621,066
30,291
At 31st March 2024
868,699
576,020
102,845
103,793
1.651,357
Depreciation:
At 1 st April 2023
Charge for the year
On Disposals
268.692
29,068
83,344
6,256
68,633
2,913
420,669
38,237
At 31st March 2024
297,760
89,600
71,546
458,906
Net book amounts".
At 31st March 2Q124
868,699
278,260
13,245
32,247
1,192,451
Al 1st April 2023
868,699
307,328
15,649
8,720
1,200,396
18

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
contlnued
TANGIBLE FIXED ASSETS- HOUSING PROPERTIES (continued)
The company has been granted a 125-year lease over the Housing Properties operated with the exception of 27
Sykes Street and 213 Anlaby Road for which a freehold is owned. In view of the state of repair this asset is
considered lo have no donated value. Future expenditure on the fabric of the buildings will be capitalised and
written off over the expected useful lrfe.
INVESTMENTS
2024
2023
Term deposits with finance houses
Seven Investment Management
Brooks MacDonald
Inveslec
Aegon
UK Defensive Annual Kick Out Plan
HEY Credit Union
436,768
725,808
852,075
573,380
689,610
789,700
1,221.167
313,772
67,561
1,164,365
66,174
£3,617,151
£3,283,229
DEBTORS
2024
2023
Trade debtors
Prepayments and accrued income
142,693
63,663
25,005
55,604
£206,356
£80,609
10. CREDITORS.. amounts falling due within one year
2024
2023
Trade credilors
Other credilors
Accruals and deferred income
42,348
43,877
21,806
15,518
£69.209
£59,395
19

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
11. CREDITORS: amounts falling due after more than one year
2024
2023
Recycled capital grant fund
Russell Street grant
Solar Panel grant
635,000
57,534
8.707
635,000
£701.241
£635,000
A condition of taking possession of 213 Anlaby Road. Hull was that they also lake on the responsibility of the
recycled grant of £400.000 which is repayable to the housing corporation rf the property is sold lo a privata entity.
This grant has no timescale and is attached to the buildin9 until such lime that the proporty is sold.
12. SHARE CAPITAL
The Company was incorporated as a company limited by guarantee and therefore it has no share capital. The
liability of the members is limited to £100 each. The total number of members at 31st March 2024 was 512023
51.
13. CHARITABLE STATUS
The Company is registered with the Charity Commission as number 1007875.
14. CAPITAL COMMITMENTS
There were no capital commitments contractad for al the year end
15. RELATED PARTY TRANSACTIONS
On 15th March 2001 the company renewed the lease from Hull City Council on the three properties it occupies,
Rawling Way, Bourne Street and Russell Street for a term of 125 years at a peppercorn rent. A 125-year lease at
a peppercorn rent was signed with Hull City Council in respect of 537 Anlaby Road, Hull on 19th August 2009.
16. CASH GENERATED FROM OPERATIONS
2024
2023
Surplus for the year
Adjustments for
Pension gain
Depreciation
Investment lossl(gainl
Accrued investment interest
Movements in working capilal
Decreasel(increasel in debtors
(Decreasellincrease in creditors
650,235
592,738
(178.0001
38,236
{170,3551
(15.4281
{392,0001
34,945
55,404
(125.7471
76,054
(16,3701
(26,5481
£274.995
£248,169
20

HULL RESEThLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
conlinued
17. PENSION OBLIGATIONS
The Charity operates a funded defined scheme as a part of the Local Government Pension Scheme. The Scheme
is contraGted-out of the Stale Second Pension scheme IS2PI. The Scheme Assets are assels held in a separate
trustee administered fund which forms part of a total fund administered by East Riding of Yorkshire Council.
Contributions to the scheme are determined by a qualified actuary on the basis of triennial valuations using the
projected unit method.
The last formal valuation of the scheme was performed as at 31st March 2024 by a professionally qualified
actuary.
The Charity has contributed at a rate of 22.80/u12020= 22.80h) during the accounting period. Since 6th April 2008
members have paid contributions al the rate of at varying rates dependent upon their gross pensionable salary
during the accounting period. The charge to the Income and Expenditure Account for the year was £58,000,
{2023= £14,000)
Principal actuarial assumptions
2024
2023
Financial assumptions
Discount rate
Future salary increase
Pension Increase rate
4.8%
2.8%
4.75°/0
3°/0
2024
2023
Financial assumptions
Retiring today:
Males
Females
Retiring in 20 years..
Males
Females
20.6
23.5
20.8
23.7
21.4
25.0
21.5
25.2
21

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
continued
2024
2023
Amounts recognised in surplus or deficit
Current service cost
Loss on settlements
15.000
30,000
Amounts charged to operaling costs
£15,000
£30,000
2024
2023
Net interest
37,000
9.000
Amounts charged to other finance costs
£37.000
£9,000
Reconciliation of opening and closing balances of the present value of plan assets
2024
2023
Opening scheme liabilities
Current service costs
Interest cost
Contributions by members
Benefits paid
Remeasurements
(1,375,000) (1,570,000)
(15,0001
130,000)
(61,0001
142,000)
(4.0001
16,000)
192,000
40,000
4,000
233,000
Closing scheme liabilities
£{1,259,000} £(1,375,000)
Reconciliation of opening and closlng balances of the fair value of plan assets
2024
2023
Opening fair value of plan assets
Interest income
Participants contributions
Return on plan assets lin excess of inlerest income)
Contributions by employer
8enefits paid
2,082.000
98,000
4,000
94.000
58,000
1192,000)
1,885,000
51,000
6,000
166,000
14,000
(40,000)
Closing fair value of plan assets
£2,144,000
£2,082,000
2024
2023
Actual return on scheme assets
885,000
707.000
Major categories of plan assets as a percentage of total plan assets
2024
2023
Equities
Bonds
Propety
Cash
75°/0
16%
801.
72°h
170
90
2°
22