HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
A REGISTERED CHARITY
REPORT AND ACCOUNTS
31ST MARCH 2025
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 RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
Page
Company Infomiation
Trustees Report
Report of the Auditors
Income and Expenditure Account
9-10
Balance Sheet
11
Cash flow statement
12
Notes to the Financial Statements
13

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2025
TRUSTEES AND DIRECTORS:
R. W. Batty (Chairman)
l. Agius (Vice Chaimian}
Cllr D. Kirk
Cllr G Kennett
P. Rodmell
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
HU12AS
BANKERS:
National Westminster Bank
PO Box No. 944
34 King Edward Street
Hull
HU13YN

HULL RESE￿LEMENT PROJECT LIMITED
BY GUARANTEE
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST MARCH 2025
The trustees who are also directors for the purpose of the Companies Act 2006 present their report and accounts for the year
ended 31st March 2025.
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 Communilies Agency (number H43101 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 Truslees as
outlined in the Charities Act 2011,. becoming or Geasing to be a member as outlined in Section 17 of the Memorandum and
Articles of Association agreed at the Board Meeting on 16th March 2016.
Trustees are provided with training as considered necessary to supplement their existing skills.
The trustees meet 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 charily supported by paid staff.
OBJECTIVES
The main object of Ihe charity is the care and support of homeless and other disadvantaged persons who are in need of help
lo acquire a settled way of life by providing, developing and mainlaining short term residential accommodalion 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 assisl them towards a more settled way of
living in the community.
When planning the activitses for the year the trustees have considered the Charity Commissioners Guidelines on public benefit
and how these activilies will contribute to the Gharities aims and objeGtives.
The trustee5 have complied wilh the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefit
guidanTr as published by the Charities Commission.
REVIEW OF DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS
The activities of the company consist of the management of five hostels for single homeless persons in Hull at Bourne Street,
Russell Slreet, Rawling Way, 27 Sykes Street and 213 Anlaby Road. Together wilh second stage supported housing at 537
Anlaby Road.
During Ihe year under review the charity has also run a project to assist residents of the hostels with independent
accommodation.
This report relates to the twenly first accounting period since the incorporation of the company. The financial performance of
the company has matched the expeclations of the Business Plan and the company has met requirements of its principal
funding body, the Hull City Council.
FINANCIAL REVIEW
The financial Statements are sel out elsewhere in this report. The tolal income for the charity during Ihe year under review was
£2,132,202 in the form of Housing Related Support Funding, Housing Benefit and investment gains.
£1.581,298 was spent on the charitable objects and managemenl and administration leaving a surplus for the year of
£550,904 which has been transferred to designated reserves.
In the year under review the pension is in a surplus position of £1,059,000 compared to a surplus in 2024 of £885,000.
The total reseNes at 31st March 2025 amount to £6.380.857 after incorporating Ihe pension surplus of £1.059,000
In the Cufrent 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 not accounted for in the financial
statements. In view of the directors this 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 2025
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 trustees seek to maintain a level of free reseNes (that is funds not tied up in fixed assets and restricted funds) that
will enable the charity to sustain its operation over a period when the income generation 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 charrty is exposed. Internal risks are minimised by the
implementation of procedures for authorising transactions and projects and to ensure consistent qualty of delivery for all
operational aspects of the charitable company. These procedures are periodicalty 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 trustees (who are also the directors for the purposes of company lawl 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 charitsble Company to prepare accounts for each financial year which give a
true and fair view of the state 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 judgements and estimates that are reasonable and prudent;
Prepare the accounts on the going concern basis unless rt is inappropriate to presume that the company will
continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the company and to enable them to 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 Landlord5 Determination 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 2025
STATEMENT AS TO THE DISCLOSURE OF INFORMATION TO AUDITORS
So far as the trustees are aware, there is no relevant infomiation (as defined by Section 418 of the Companies Act
20061 of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought
to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable
company's auditors are aware of that information.
AUDITORS
Messrs Fawley Judge & Easton will be proposed for re-appointment as auditors in accordance with Section 385 of the
Companies Act 2006.
This report has been preparecl in accordance with the Statement of Recommended Practice - Accounting by Registered
Social Landlords.
By order of the Board
J. A. Black
Company Secretary
Date 17th September 2025

HULL RESErrLEMENT PROJECT LIMITED
BY GUARANTEE
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF
HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
Opinion
We have audited the finanaal statements of Hull Resettlement Project Ltd {the °Charity'l for the year ended 31 st March 2025 which
comprise the statement of financial activities, the summary income and expenditure account. the balance sheet, the slalement
of cash flows and notes lo the financial statements. including significant accounting poliGies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounling Standards. including Financial
Reporting Standard 102 The Financial Reporting Standard appliGable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounling 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 2025 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.,
have been prepared in a￿rdance with Ihe requirements of the Companies Act 20ffi.
Basis for opinion
We conducled our audit in accordance wilh International Standards on Auditing (UK) {ISAs (UK}) and applicable law. Our
responsibilities under those standards are further described in the Auditors 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 Ihe 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 15
sufficient and appropriate to provide a basis for our opinion.
Conclusiorts relating to going concem
In audiling 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 lo 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 monlhs from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concem 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 Trustees are responsible for the other information contained within the annual report. Our opinion
on the financial statemenls 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 olher information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othe￿iSe appears
to be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required to
determine whether this gives rise to a material misstatement in the financial statemenls themselves. If, based on Ihe 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 requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports)
Regulalions 2008 require us to report to you if. in our opinion..
the information given in the financial statements is inconsistenl 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 explanalions we require for our audrt.

Responsibilities of the trustees
As explained more fully in the statement of Trustees, responsibilities, the 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 salisfied that they
give a true and fair view. and for such internal control as the 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 Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as
applicable, matters related to going con￿rn 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 bul to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appoinled as auditor Ljnder 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 oblain 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 auditols report that includes our opinion. Reasonable assurance
is a high level of assurance but is not a guarantee that an audit conducled in accordance with ISAS (UK) will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are oonsidered malerial 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.
The extent to which our procedures are Capable of delecting irregularities, including fraud. is detailed below.
We assessed the sus￿PtIbIlity of the company's financial statements to material misstatement, including oblaining an understanding
of how fraud might occur, by making enquiries of management and considering the internal controls in pla￿ 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, we..
performed analytical prO￿dureS to identify and unusual or unexpected relationships.,
tested journals entries to identrfy unusua5 transactions",
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential
bias,. and
investigated the rationale behind signific2nt or unusual transactions.
In response to the risk of irregularities and non-compliance V￿th laws and regulations, we designed prO￿dureS which included. but
were not limited to..
agreein9 financial statement disclosures to underlying supporting documentation-.
enquiring 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 wll not detect all irregularities, induding those leading to a material
misstatement in the financial ststements or non-complian￿ with regulation. This risk increases the more that compliance wth 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. Audiling standards also limit the audit procedures required to identtfy non-complian￿ wth
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 error, as fraud involves intentional concealment,
forgery, o)Ilusion, omission or misrepresentstion.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https:Ilwww.trc.org.ukJ
auditorsresponsibilities. This description forms part of our auditols report.

This report is made solely to the company's members. as a body, in accordance with section 391 of the Companies Act 2014.
Our audit work has been undertaken so ihat we might slate 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 fullest extent permitted by law, we do not accept or assume
responsibility lo anyone other than the company and the company's members as a body, for our audit work. for this report, or
for the opinions we have formed.
Jonathan Leathley
Senior Statulory Auditor
Fawley Judge & Easton
Statutory Auditor
1 Parliamenl Slreet
Hull
HU1 2AS
Date 17, September 2025

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2025
Notes
Total
2025
Total
2024
Turnover
1,923,760
1,955,018
Operating expenditure
(1,580.143)
(1,664,682)
Operating surplus
343,617
290.336
Interest receivable
19,549
14,127
Interest payable
(1,155)
(1,376)
Investment Gainsl(Losses)
188,893
169,148
Surplus on ordinary activities for the period
£550,904
£472,235
Pension (loss)Igain in period
Total comprehensive income for the year
174,000
178,000
£724,904
£650,235
All amounts relate to continuing activrties.
{Tenant Services Authority copy only)
Approved on behalf of the Board on Date 17th September 2025
R. Batty- Chairman
The notes on page5 10 to 17 fonn part of these financial statements

HULL RESErrLEMENT PROJECT LIMITED
BY GUARANTEE
ASSOCIATION STATEMENT OF CHANGES IN RESERVES
FOR THE YEAR ENDED 31ST MARCH 2025
Income and
Expenditure
reserve
Restricted
Reserve
Total
Balance as at 1st April 2023
5,005,718
5,005,718
Transfer between funds
Total comprehensive income for the year
650,235
650,235
Balance as at 31st March 2024
5,655,953
5,655,953
Total comprehensive income for the year
724,904
724,904
Balance at 31st March 2025
£6,380,857
£- £6.380,857
io

HULL RESErrLEMENT PROJECT LIMITED
BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
AS AT 31ST MARCH 2025
2025
2024
Note
Fixed assets
Tangible fixed assets
Investments
1.326,178
3.670,794
1,192,448
3,623,851
4,9￿,972
4,816,299
Current assets
Stock
Debtors
Cash al bank and in hand
250
51,605
1,029,765
250
206,356
518,497
Total current assets
1,081.620
725,103
Creditors: amounts falling due
v&￿thIn one year
10
{57,111}
(69,2081
Net current assetslliabilitles
1.024,509
655,895
Total assets less current liabilities
6,021,481
5,472.194
Credltors: amounts falling due after
more than one year
11
{699,624}
1701,241}
PROVISION FOR LIABILITIES
Pension surplu5
1,059,000
885,ly)O
NET ASSETS INCLUDING PENSION DEFICIT
6,380,857
5,655,953
FUNDS OF THE CHARITY:
Share capital
Income and expendrture account
Restricted funds
12
6,380,857
5,655,953
11
TOTAL CHARITY FUNDS
6,380,857
£5,655.953
The members have not deposited noti￿, pursuant to Section 476 of the Cornpanies Act requiring an audit of these financial
statements.
The trustees acknowledge their reswnsibilities for..
ensuring that the charity keeps accounting records that comply with Section 386 and 387 of the Companies Act and
preparing finanaal staternents which give a true and fair view of Ihe state 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 relating to financial statements, so far as applicable to the charity.
e financial statements were approved by the Board ofTrustees on 17th September 2025 and signed on its ￿half by..
(al
Ib)
R. Batty - Chairman
Registered Cornpany 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 2025
2025
2024
Note
Cash flows from operating activities
Cash (absorbed byllgenerated from
operations
16
545,693
274,995
545,693
274.995
Investing activitles
Purchase of tangible fixed assets
Purchaselsale of investments
174,756
1140,3311
30,291
154,659
Net cash generated from investing activities
Net decrease In cash and cash equivalents
Cash and cash equivalenls at the beginning of the year
Cash and cash equlvalents at the end of the year
34,425
184,950
511,268
90,045
518.497
428,452
£1,029.765
£518.497
12

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
ACCOUNTING POLICIES
Accounting convention
The financial statements of the group and association are prepared in accordance with UK Generally Accepted
Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102) and the Housing SORP 2014-.
Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction
for Private Registered Providers of Social Housing 2015.
Income
Government grants
Grants of a revenue nature are credited to income in the period to which they relate.
Social housing letting income includes Supporting People (SPI 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 activtties.
Donations
Donations are credited to income in the year in which they are receivable.
Charitable expenditure
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 obligab.on can be measured
reliably.
Expenditure is classified by activity. The costs of each activty are made up of the total of direcl costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to
that activity. Shared costs which contribute to more than one actr'vity and support cost5 which are not attributable to a single
activity are apportioned be￿een 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 asseys use.
Resources expended are charged on an accruals basis, inclusive of irrecoverable Value Added Tax. Direct charitable
expenditure comprises Ihose costs directly incurred in pursuance of the Company's charitable activities. where the costs
righlly belong to more than one activity an appropriate proportion is charged to each activity. Governance costs includes
expenditure which is incurred meeting the constitutional and statutory requirements of the charity
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequentty 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 values over their useful
lives on the following bases..
Freehold property
Leasehold property alterations
Office equipment, Hostel Furniture, Kitchen and Washing Equipment
IT Equipment, Television, FridgelFreezers
Motor Vehicles
Impairment review
15 years
5 years
2 years
5 year5
Restricted funds
Income received from Public Sector Bodies and similar organisations are separated and treated as restricted
funds.
Expendrture incurred in relation to the restricted funds is calculated in accordance with the claims for
funding made by the Company.

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
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 third party report on the long term
mainlenance of the buildings and the replacement of furniture 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, within the term of the lease, and its contents to a high standard. Its
creation has been accepted by the Company's principal regulatory 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 rts
obligations, both fiscal and ststutory, should the Company cease to operate.
Sinking Fund
This designated fund was set up by the Board to enable the Company to provide for the long term repair
obligation of the Company's assets and to meet its obligations under the terms of the lease of the premises
following its registration as a Housing Association. An additional Sinking Fund was set up in the year in respect
of 537 Anlaby Road to set aside £45,000 in a 15-year period.
The Responsive Repair Fund
This designated fund was set up by the Board following the consultation with the architects regarding the state
of repair of the building. A programme of work was recommended over a 5-year period. Funds are being set
aside as indicated by the Company's business plan.
The Leasehold Property Fund
This designated fund represents funds set aside to provide for the depreciation of the leasehold property
alterations over a period of 15 years. A transfer equivalent to the depreciation charge less any further addilion
will be made annually.
Stakeholder Pension Fund
This designated fund represents monies set aside to make additional provision for pension payments to
employees not 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.
Financial 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 to all of its financial instruments.
Financial instruments are fecognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net 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 transaction
price including transaction costs and are subsequentty carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction 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 2025
continued
ACCOUNTING POLICIES {continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of
the future payments discounted at 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 effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified a5 current liabilities if payment 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 liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's se￿iceS 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 benefrts.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
source5_ 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.
15

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ST MARCH 2025
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 benefil scheme and the assets of the scheme are held separately ffom those of the Company.
Contributions to 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 years using the projected unrt credit method.
Variations in pension cost. which are identified as a result of actuarial valuations, are amortised over the average
expected remaining working lives of employees in proportion to their expected payroll costs. Differences b&￿een
the amounts funded and the amounts charged to the profit and 1055 account are treated as erther accruals or
prepayments in the balance sheet.
In August 2011 the Company introduced a Stakeholder Pension Scheme for those staff not eligible to join the
Local Govemment 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 lettings (note 3)
1,923,760
1,560,186
19,957
343,617
£1,923,760
£1,560,186
£19,957
£343,617
2025
2024
Operating surplus
Is stated after charging..
Auditors remuneration (including VAT)
Depreciation of tangible fixed assets
5,250
41,028
4,750
38,237
16

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
continued
INCOME AND EXPENDITURE FROM SOCIAL HOLDING LErriNGS
Supported Housing
2025
2024
Rent receivable net of identrfiable service charges
Service income
Revenue grants
Capital grants
1,228.941
78,216
606,785
9,818
1,155,223
90.999
623,363
85,433
Turnover from social housing lettings
£1,923.760 £1.955,018
Management
Routine maintenance
Other costs
19,957
78,085
1.482,101
21,697
146,272
1.496,931
Operating expenditure on social housing lettings
£1,580,143 £1,664,682
Operating surplus on social housing lettings
£343,617
£290,336
Void losses
23,977
22,343
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 the Taxation of Chargeable Gains Act 1992 to the extent that those are applied to its charitable
objects- no tax charges have arisen in the charity.
INTEREST PAYABLE AND SIMILAR CHARGES
2025
Total
2024
Total
Pension net return on assets
Bank Charges
1,155
1,376
17

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
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..
2025
2024
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
897,954
92,628
76,147
885,284
86,720
67,465
£1,066,729
£1.039,469
None of the trustees received any emoluments or expenses from the company during the year or the previous year.
Indemnity insurance is not taken out to cover the potential liability of trustees.
TANGIBLE FIXED ASSETS- HOUSING PROPERTIES
Freehold
Propety
Leasehold Plant. vehicles,
Alterations Equipment etc
Furniture &
Fittings
Total
Cost:
At 1st April 2024
Additions
Disposals
868,699
146,395
576,020
102.845
103,792
28.361
1,651,356
174,756
At 31st March 2025
1,015.094
576,020
102.845
132,153
1,826,112
Depreciation:
At 1st April 2024
Charge for the year
On Disposals
297,760
29,068
89,600
5,607
71,546
6,353
458.906
41,028
At 31st March 2025
326,828
95,207
77,899
499.934
Net book amounts:
At 31 st March 2025
1,015,094
249,192
7,638
54,254
1,326,178
At 1 st April 2024
868.699
278,260
13,245
32,246
1,192.451

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
continued
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 to have no donated value. Future expenditure on the fabric of the buildings will be capitalised and
written off over the expected useful life.
INVESTMENTS
2025
2024
Term deposits with finance houses
Seven Investment Management
Brooks MacDonald
Aegon
UK Defensive Annual Kick Out Plan
HEY Credit Union
436,768
725,808
852,075
1,221,167
313,272
67,561
725,808
881,560
1,660,385
333,962
69,079
£3,670,794
£3,617,151
DEBTORS
2025
2024
Trade debtors
Prepayments and accrued income
15,683
35,292
142,693
63.663
£51,605
£206,356
10. CREDITORS: amounts falling due within one year
2025
2024
Trade creditors
Other creditors
Accruals and deferred income
33,993
42,348
23,118
21,806
£57,111
£69,209
19

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
continued
11. CREDITORS: amounts falling due after more than one year
2025
2024
Recycled capital grant fund
Russell Street grant
Solar Panel grant
635,000
48,683
7,740
635,000
57,534
8,707
£691,423
£701,241
A condition of taking possession of 213 Anlaby Road, Hull was that they also take on the responsibility of the
recycled grant of £400,000 which is repayable to the housing corporation rf the property is sold to a private entity.
This grant has no timescale and is attached to the building until such time that the property is sold.
12. SHARE CAPITAL
The Company was incorporated as a company limrted 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 2025 was 5 {2024
51.
13. CHARITABLE STATUS
The Company is registered with the Charity Commission as number 1007875.
14. CAPITAL COMMITMENTS
There were no capital commitments contracted for at 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 temi 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
2025
2024
Surplus for the year
Adjustments for
Pension gain
Depreciation
Investment lossl(gain}
Accrued investment interest
Movements in working capital
Decreasel(increasel in debtors
(Decrease)lincrease in creditors
724,904
650,235
1174,0001
41,028
(188,893)
(178,000)
38,236
(170,435)
{15,428)
154,751
112,097>
(125,747)
76,054
£545,693
£274,995
20

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
continued
17. PENSION OBLIGATIONS
The Charity operates a funded defined scheme as a part of the Local Government Pension Scheme. The Scheme
is contracted-out of the State Second Pension scheme (S2P). The Scheme Assets are assets 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 unrt method.
The last formal valuation of the scheme was performed as at 31st March 2025 by a professionally qualified
actuary.
The Charity has contributed at a rate of 22.8D/o (2024.. 22.8 % ) during the accounting period. Since 6th April 2008
members have paid contributions at 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,
{2024.' £58.0001
Principal actuarial assumptions
2025
2024
Financial assumptions
Discount rate
Future salary increase
Pension Increase rate
5.8%
2.80/0
2.8°/0
2.80/0
2.80/0
2025
2024
Financial assumptions
Retiring today..
Males
Females
Retiring in 20 years..
Males
Females
20.5
23.5
20.6
23.5
21.2
25.0
21.4
25.0
21

HULL RESETTLEMENT PROJECT LIMITED
BY GUARANTEE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 ST MARCH 2025
continued
2025
2024
Amounts recognised in surplus or deficit
Current service cost
Loss on settlements
16,000
15,000
Amounts charged to operating costs
£16,000
£15,000
2025
2024
Net interest
42,000
37,000
Amounts charged to otherfinance costs
£42,000
£37,000
Reconciliation of opening and closing balances of the present value of plan assets
2025
2024
Opening scheme liabilities
Current service costs
I nterest cost
Contributions by members
Benefrts paid
Remeasurements
(1,259,000) (1,375,000)
(16,000)
(15,000)
{59,000}
{61,000)
(3,000)
(4,0001
82,000
192.000
128,000
4,000
Closing scheme liabilities
£(1,127.000) £(1,259,000)
Reconciliation of opening and closing balances of the fair value of plan assets
2025
2024
Opening fair value of plan assets
Interest income
Participants contributions
Return on plan assets lin excess of interest income)
Contributions by employer
Benefits paid
2,144,000
101,000
3,000
6,000
14,000
(82.000)
2,082,000
98,000
4,000
94.000
58,000
1192,000)
Closing fair value of plan assets
£2,186,000
£2,144,000
2025
2024
Actual return on scheme assets
1,059,000
885,000
Major categories of plan assets as a percentage of total plan assets
2025
2024
Equities
Bonds
Property
Cash
77°/0
14%
7°/0
75/0
16%
22