Charity reglstratlon number 1017599 (England and Wales) THRESHOLD HOUSING LINK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THRESHOLD HOUSING LINK LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms L Catt81ain Ms L Connick Ms P Davies Mr S Godfrey Ms J Hall (Appointed 31 March 2025) (Appointed 31 March 2025) (Appointed 19 November 20241 Mr B R Saunders ProfA Winfield (Appointed 31 March 2025) Senlor management Mr B Ham)an Mr K Parry CEO Operations Manager (resigned 5 September 2025) Service Manager (appointed 18 November 2024) Fundraising and Communications Manager (appointed 24 Febnjary 2025) Finance and Compliance Manager {appointed 27 October 2025) Ms H Edwards Ms R Harris MsDPea Charity number (England and Walos) 1017599 Auditor Haines Watts Swindon Limited Old Station House station Approach Swndon Itshire SN13DU
THRESHOLD HOUSING LINK CONTENTS Pago Trusts8s' report Independent auditorfs report 9-11 Statement of financial aclimties 12 Balance sheet 13 Statement of cash flows 14 Notes to the financial statements 15-26
THRESHOLD HOUSING LINK TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The tTUStees present their annual report and finanaal statements forthe year ended 31 March 2025. The financial stateménts have been prepared in aCrdan with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charrties Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'OuntIng and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and actlvltlos The trustees review the aims, objectives, and activities of Threshold each year. This report looks at what Threshold has achieved and the outcomes of its work in the reporting period. The trustees report the SusS of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and actiwties remainèd focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned actiwties will contribute to the aims and objective5 that have been set. Our objects Threshold's objects, as set out in its constitution are: 'Ihe relief of poverty. hardship. sickness and old age in particular of persons who.. (a) by reason of mental or physical infimiity are unable to fijlfil their duties as citizens or their obligations to their employers.. or are Ib) homeless. exwoffenders and those with substance misuse issues andl or addictions. Our mlgslon To end homelessnes5 for people in Swindon by providing a safe place to live, personalised support and a pathway to independence. Our values Our values guide interactions and deci5ion-making throughout Threshold Collaboration= Working together to achieve the best outcomes Integrity: Acting with honesty, transparency and accountsbility Compassion= Listening to people's needs and acting with empathy Quality.. Striving for excellence in all we do Aclivitlos Threshold's charitable activities focus on the people w8 SUPPOrt and arè undertaken to fijrther our charitable purposes for the public benefit. People who are homeless in Swindon face multiple barriers to financial securty and independence. Most of our residents come to us with chronic personal challenges linked to social exclusion. Many have a history of mental health problems, trauma. offending and domestic abuse. as well as ojrrent issues with physical ill Ipalth, disability and problems with drug l alcohol use. These factors aggravats each other, creating multipl@. complex needs whith can prevent acc8SS to basic living requirements such as housing and health Care, and exclude people from partiapating in education, employment, social activities and even daily living tasks. Isolation. discrimination and stigma creats further barriers to accessing support from stretched local services, making it very difficult ft)r people to get the specialist support they need to overcome issues which lead lo homelessness. Without thes8 Vltal opportunities, people are trapped in hom818ssn8Ss and die at an average age of 44 years, according to the ONS.
THRESHOLD HOUSING LINK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Threshold has been providing accommodation and support for horn818ss people in Swindon for over 50 years. Every night we provide a safe place to live for people in Swindon who 0th8TWiSé would be homeless. We know Ihat with thè Ttght support at the right time. people can overcome homelessness and work towards a positivè fvture. Our houses offer a safe, secure home where peopl8 ar8 SUPPOrted to escape the cycle of homelessness and gain tha stability and Independen to move on to pemanent accommodation. We support people who are homeless in Swindon by providing.. A safe place to live A personaliséd support plan to work towards a positive future A pathway to Independence Our houses offer a safe, comfortable place to call home for 86 residents as well as support to become tenancy ready. Each resident is allocated a support worker who helps them develop a personal support plan based on Ihe Homelessness Outcome Star. setting realistic targets to overcome their challenges. achieve their goals and grow their independence. Our residents receive person-centred, wraparound support to break down barriers to inclusion and overcome the problems that are holding them back from achieving their potential. Residents can live in a ThshOld house for up to bvo years. Working on a plan towards independent living is a requirement of the licence agreement. lthen they are ready, we will support residents to achieve a positlV8 move on, Working in partnership with Swindon Borough Council and others trj secure a successful move on to independent accommodation. Achlevements and perforniance Signffjcant aclivitios and achievements against objectives We refreshed our mission, purpose and values to engage stakeholders and refiect our purpose We developed and launched our new &year strategy (April 202&March 20281 which will build strong foundation5 critical to our )lJture success reviewed and strengthened our Key Performance Indicators {KPI'sl that enable us to report our perf0rrnan against our new strategy We have established subcommittees of th8 Board, a Finance and Fundraising subcommittee and Perfomiance and Quality subcommittee. These $ubcommitt8es help the Board fulfil their responsibilit and provide support to the CEO and Senior Management Team ISMT) We renewed our focus on outcomes and impact by embedding the Homeless Outcome Star across our support planning and practice We commissioned a stock condition survey to infomi our long-tem repairs. inv6strn8nt, and refurbishment of properbes We continued to work in partnership with a range of statutory and voluntary organisations to ensure high quality and effective support for people who are homeless in Swindon Several people were able to move on to their ¢Thin independent accommodation and sustain their new tenancy for at least 6 months Monltorlng and ovalualion We use In-Form. the leading client relats'onship and Service management system for the homeless sector. to track outcomes. assess impact and infonn our services from the initsal referral, through personali5ed support planning and into independent living. In-FO comes with the Homelessness Outcomes Star built in. enabling us to embed it in our practice while measuring the impact of our support Servi$. We will be investing in further In-FO and Outcomes Star training for the Threshold team to anable us to use this system to its fvll potential and infomi Service development Access to our services We are committed to creating a welcoming and aCpb.ng culture where people feel included. experience a sense of belonging and feel safe to be themselves. W6 respect and celebrate differences and ensure that everyone has the resources they need to achieve their goals.
THRESHOLD HOUSING LINK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financlal revlew Financial positlon The financial position of the charity at the year-end is set out on page 13. Income Threshold's total income increased by £196.669 (13.8°hl this year from £1,423,603 in 2023124 to £1,620,272. A detailed analysis of income is shovm in the Statement of Financial Activities (SOFA) and Notes 3 - 6 of the Financial Ststements. Expenditurn Total spending on charitable activibes for the year of £1,203.110 represents a 5.50h decrease in expenditure from 2023124 {£1,273,402). Further analysis of charitable activity expendibjre, showing the operational activities undertaken by Threshold are given in the SOFA and in note 8 of the Financial Statements. Fund Anatysis The Board can confimi that the Charity's assets are available and adequate to fulfil the obligations of the Charity on a fijnd-by-fund basis. Incoming reSoUS for the year of £1,620,272 (2024.. £1,423,603) included £nil of restricted fijnds {2024= £nil). Of the £2,133,612 fvnds retained at year end {2024.' £1.716.450). £759,898 were designated (2024= £60.000), £730,352 held in a revalualion reserve {2024.' £730.352) and £nil were restricted12024'. £4.826). Further analysis of designated and restricted fvnds is shown in the SOFA and Notes 21 and 22 of the Financial ststements. Investment pollcy and obJa¢tiVOS Threshold is committed to maintaining fvnds in instant access accounts to rn6èt all day-to-day need5 for working capital. Any funds beyond this and not required for development of Ihe Charity's activitses in the short term, will be invested in low-risk dep051t accounts, reviewed and recommended by the Finance and Fundraising committee and approved by the Board. Reserves policy tin Threshold's ReseNes & Investrnents Policy. the board has determined to hold three to six months. operating costs as a buffer against unforeseen financial challenges. to guarantee business continuation in the event of a large reduction in income. protect the charity's long-term sustainability. to plan for future growth and te able to benefit from development opportunities a5 and when they arise, and to ensure the Charity can wind up in an ethical and orderfy manner rfso required. For 2025126. budgeted monthly operating costs are £123,024. At March 31st 2025 the Charity's unrestrrcted reserves stood at £2.133.612. Of these, £1,384,250 were held in fixed assets (buildings) and £106,000 in designated funding for major repairs and IT. On 31st March 2025 the organi5ation therefore held £643.362 in free reseNes (2024.. £239,124), equating to 5.2 months. operating costs. This meets the minimum reserves policy and the trustees, r8quirement that free reserves remain in surplus. At the beginning of the current finanaal year 2025126 th8 Charity paid off a bank loan of £218,118, leaving £425,244 in free reserves. equating to 3.5 monlhs. operating costs. The Board is committed to investing additional réSourS for the purposes of developing services to Threshold's beneficiaries. For 2025126 the Charity is budgeting for a surplus of £154,083 building its financial resilience to support organisational growth in a volatile social and economic climate. Threshold's new three-year-strategy will require investrnent in effective and sustainable infrastructure, including finance, IT and syslems, staff development and 8valuating impact The Charity also seeks to grow its free reserves to invest in capitsl. Building these strong foundations will pave the way for subsequent invesknent to transfomi th8 service delivery model from 2028. Threshold will continue to reinvest surpluses into appropriate prop8ty to m88t the rapidly growing and changing needs of Swindon'5 homeless community.
THRESHOLD HOUSING LINK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for futuro perfods In 2024 we gppointed a new CEO and consulted with stak8holders to refresh our vision, mission and values and develop a new strategic plan for 20254. Our Stratsgy, 'building strong foundations,. will establish excellence across five strategic priorities to strengthen our leadership in the support of local people who are homeless, now and in the future. Our strategy is underpinned by doing the right thing in the right way, every day. We will deliver effective training, development and line management to support our people to achieve Iheir best perfoan. We will te highly organised, planning well. demonstrating high professional standards and owning accountabilty- We will work together with residents. partners. stakeholders and the Swindon community to deliver the best outcomes for people who are homeless. Building strong foundalions 1$ ¢riti¢al to future success and being able to demonstrate that we are a high-quality provider that is compliant with national supported housing stsndards. Our strategy has five key priorities which will establish robust financial. operational and èthical foundations essential to maintaining Threshold's success. The stratsgy will build a trusted platfom enabling Threshold to play a leading role in ending homelessness in SwTndon and rise to future challenges and opportunities. The five stratsgic priorities are.. 1. Quality housing and support.. We will provide people a highqualty home environment and personalised support towards independence. We will deliver the best support and enable lasting change, continuously improving our perfonnance so that we can end homel&ssn8ss for p8opI8 in Swindon. 2. Property, safety & compliance: A smart approach to asset management will support our strategic goals. We will maintain up-tOThdate. compliant poliae5 which guarantee quality. safeguard health and safety and minimise risk We will develop our property portfolio to optimise value. impact and access to our services. 3. Our people.. Our people stratsgy wrll reflect the role all our people play in achieving Threshold's outcomes. It will support our focus on quality, continuous improvement, safety and wellbeing. The people working for Threshold will be well-equipped to do a great job, and they will have the resour$ to deliver against our values and objectives. Ne will embrace the opportunities offered by technology and use it to support everyone to work more efficientty. 4. Sustainability and longevlty.. Robust financial operalions, effective management and strategic thinking will drive Threshold's dgveloprnent. Solid governance will support our operations and provide assurance to stakeholders. We will think long-term so we can support people who are homeless now and in the future. 5. Slakoholdgr engagement -. We will cultivate mutualty beneficial relationships with our stakeholders. sharing strengths and opportunibes to maximise social value. We will collaborate with local organisations to increase our reach, improve our impact and achieve the best outcomes for people in Swindon. We will communicats and celebrate our impact through relevant and engaging content supported by reliable data. We will test, leam and adapt our approach over the course of the strategy. Business strategies, tactic5 and action plans will be developed annually to support our strategy. We will monitor th8 changing landscape in Swindon and evaluate our impact, introducing new partnerships and serViS as needs and opportunities arise. By continuously building, reffining and improving, we will develop a new model to be delivered from 2028. Structure. governance and managoment Governing document The charity is controlled by its goveming document, a deed of trust and Constitutes a chaTitable incorporated organisation. The organi5ation wa5 formed in June 1972 and was known as The Swindon Cyrenians (AGAPE) when first registered as a charity. The charity 15 now registered as Threshold Housing Link and known as Thresh)Id, a Charitable Incorporated Organi5ation {CIOI 1017599. The Organisation 15 govemed by its Constitution. The Trustees have no beneficial interest in the CIO.
THRESHOLD HOUSING LINK TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Board of Trustees The Board of Truste8s comprises up to ten members, which is th8 maximum pemittted in the Constitution. Full details of the trustees who held office during the period aré Set out in the Reference and Administration Section on Page 8. Trustees can serve for a period of three yèars. after which they must be revelectsd with a maximum service of 9 years before stepping down for at least on8 year. MrA Brackenbury Ms L Cattelain Ms L Connick Ms P Davies Mr S Godfrey Ms J Hall MrA Hollingsworth Ms L Oyewo Mr R Petsrs Mr B R Saunders ProfA IMnfi8ld MrAZuberi (Appointed 14 May 2024 and resigned 1 January 2025) (Appointed 31 March 20251 (Appointed 31 March 20251 (Appointed 19 November 2024) (Resigned 15 September 2025) (Resigned 19 November 2024) (Resigned 15 November 2024) (Appointed 31 March 2025) (Resigned 2 September 2024) R8cruitm917t and appointment of trustg8S Some truste85 are appointed to key roles on the board as follows.. Chalr.. Bryan Saunder5 Vice Chair. Ross Petsrs to 15 November 2024, Lin Cattelain from 19 November 2024 Co-chairs of the Finance and Fundraislng Committee.. Lin Cattelain from 23 Juty 2024 and Jennifer Hall from 21 January 2025 Chair of the Perfonnanco and Quality Commltt88: Penny Davies from 23 July 2024 Safeguarding Lead: Penny Davies from 27 May 2025 All new trustees undertake an induction programme including a structured introduction to Threshold and an opportunty to visit supported accommodation projects. The focus 1$ on ensuring we recruit a diverse Board that have a range of skills and experience aligned to our strategic direction and purpose. Training and development sessions in key areas are facilitated annually and include safeguarding, health and safety and govemance training. All trustees are recruited through a robust and transparent process, involving a detailed application. fomal InteieW and DBS checks completed. Some of our board members have personal or professional knowledge of housing or homelessness. others have senior executive and financial experien. They give their time voluntarily and receive no benefit from the charity in respect of their dutie5 as trustees. Any expenses reclaimed from the Trust ar8 set out in note 9 of the Financial ststernents. Our Board of Trustees is supported by the following sub-committees.. Financo and Fundralslng Sub4ommltte8 The finan and fundraising subrycommittee monitors the financial heatth of Threshold and assists the Board in its responsibilities for the financial statements. Ensuring our assets are managed responsibly. managing financial risk, budgeting and complying with finanaal and accounting requirements. Perfomiance and Quality Sub4ommlttee The performan and quality sub-committee provides assuran to the Board on significant operational and compliance risks, including health, safety. security and safeguarding events faced by the charity 50 that they are identified, asse55ed, managed and monitored.
THRESHOLD HOUSING LINK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 othermatters Trugtoo dutios The trustees undertake the duties laid down in the charitS goveming documents. As trustees. they fully acknowledge they are ulkn'mately responsibl& for the governan of the charity and the prolection of its assets. The board takes ultimate responsibility for the implementation of equal opportunities and health and safety within Threshold. To dischargè these responsibilities, the fonnal board meets règulady during the yèar. Mèetings of the various board committees and other advisory groups in which trustees lead and participate were held regularly throughout the year. Long terni plans All key decisions that will have an impact on th8 long-tann future of Threshold are discussed at th8 relevant subcommittee and board. For major and long running projects. the board receives regular updates to ensure that there is appropriate oversigh( and that appropriate action is laken where ne$sary Doclslon making The overall responsibility for the charity rests with the Board of Trustees. who are appointed as Trustee5 of the Charitable Incorporated Organisation. Trustees provide leadership and oversight of the organisation's charitable objectives. The Board of Truslees have overview of senior management pay and tsmis and conditions and remuneration is set by the Trustees after considering the remuneration of equivalent staff at similar charitable organisations. Authority from the Trustees for the day to day running of the char-ty is delegated to the Chief Executrve offir. Rglationship wilh wdernelwork Extsrnal Relationshlp8 The charity maintains closé collaborative and slrategic links with other homelessness and hèalth and social care organisations both within Swindon and nationalty. Statement of Trustees. responslbllltles The trustees are responsible for preparing the Trustees, Report and the financial Statements in accordance with applicable law and United lQngdom Accounting Standards {United Kingdom Generally Accepted Accounting PractiL%). The law applicable to charities in England and Wales requires the ttU5tees to prepare financial statements for each nanclal year which give a true and fair vtew of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing those financial statements, the trustees are required to-. - select suitsble accounting policies and then apply them nSIstentIy', observe the methods and principle5 in the Charities SORP., - make judgements and estimates that are reasonable and prudent., - stats whether applicable accounting stsndards have been followed. subject to any material departures disclosed and explained in the financial statements- and prepare the financial statsments on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonabl8 accuracy at any time the financial position of the charity and enable them to ensure that the financial statsments comply with the Charitses Act 2011, the Charity {A¢counts and Reports) Regulation5 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectton of fraud and other irregularities.
THRESHOLD HOUSING LINK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rlsk manag8m6nt The social care and charilable sectors in which Threshold operatss continue to be under significant SCTutiny with increasing demand and significant downward pressure on funding streams. Key issues and change that create a range of UnrtaIntieS for us include: The Supported Housing (Regulatory Oversight) Act 2023 became law in August 2023 and is still subject to consultation on how it will be implemented. The Act aims to introduce new regulations to tackle poor-qualty supported housing and protect residents Impact of the above on commissioning direction. uncertainty about what the national slandards will be, potential focus on economical and less perSOn¢entred support models Limited funding leads to an increase in referrals for people with complex needs without the requId funding or support packages to adequately house and sUPPOrt them The demands and relative low pay within social car8 which further challenges recruitment and retention of quality staff Inflationary pressures including large increases in the costs of utilities The principal risks identified as significant are: Risks Long temi financial sustainability - ensuring e remain financially resilient and sustainable and can demonstrate Value for Money IVFM). Mltlgatlons Annual budget and regular reporting of managemen accounts Eslablishment of a Finance and Fundraising Sub-committee Increasing our fijndraising capacity and bring finance inhouse Developing finance and fundraising Strategies Health and Safety (H&S) failure to have in place robust H&S policies and ways of working, along wth a failure to demonslrale a positi safety culture. can lead to death or injury and ith it. Serious financial and reputational risk. Safeguarding - the potential of service failure and hami to individua15 Should the Safeguarding ethos. ways of working. training and overall approach be unclear or ill managed across Threshold. H&S policy updated and approved Safety and compliancE is a key part of our strategy and KPI'S vthich are regularly reported to and reviewed by the SMT and Board of Trustees Establishment of a PerfOnanCe and Quality SutFCommittee with oversight of safeguarding Created a Designated Safeguarding Lead (DSL) role Reviewing our safeguarding policy and practice to identify continuous improvement opportunities Safeguarding a standing agenda item at meetings Recruitment and Retention significant challenges in recruitment and retention within the sector and locally. Failure to attract. recruit, and retain high quality people puts service quality and an ability to deliver strategylplans a risk. We completed a salary benchmarking exercise in 2024 P8opI8 15 on8 of our five strategic priorities with ke outcomes and tssks to drive Ihis important area ofwork We will deliver effective training, development and line management to support our people to achieve thèir best P8rfomianc8 Fundraising core services are funded adequately however new sustainable voluntary income is required to deliver new seNices. We wll create a fundraising strategy and invest in a dono databas8 so w8 have the foundation to successfully establish new sustsinable sources of in¢ome.
THRESHOLD HOUSING LINK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk manag8m0nt and intsrnal controls We continue to cary out and monitor a comprèhensive risk-management assessment process. This has identified and addressed the major financial, operational, gov8manc8. repLrtational and regulatory risks whic* might affect our ability to meet our objectives. The risk register records Threshold's exposure to major risks and uses a scoring mechanism based on impact and likelihood. It considers existing controls and the steps taken to mitigate the risks. It then identifies the residual risk to understand whether it is within the acceptable risk framework. which underpins the process, based on clearfy defined appetite to risk protocols. agreed by trustees. Vvhere risks appear to be outside the agreèd comfort zone there is a clear focus on alon$ needed to ensure it is within the risk appetite. The senior management team (SMT) and Board of Trustees have kept the risks under review during the period. The Board of Trustees has overall responsibility for assessing the risks faced and ensuring it has appropriate systems of intemal control in pla. The charity undertakes mitigating actions on all the major identified risks. The trustees are of the opinion that they take reasonable steps to ensure that they identify the major risks to which the charity is exposed. They a150 try to ensure they have put in place systems to mitigate them. The Trustees, report was approved by the Board of Trustees. Ms L Cattelain Vl¢e Chalr of Trustees Dats....Z.sl.::..12
THRESHOLD HOUSING LINK INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THRESHOLD HOUSING LINK Opinlon We have audited the financial Statements of Threshold Housing Link Ith8 'charity) for the year 8nd8d 31 March 2025 which cornprise the statement of financial activities, the balan sheet, the statement of cash flows and notes to the financial slatem8nts. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial R8POrting Standard 102 The Financial Repong Standard applicable in th8 UK and Rapublic of Ireland (United lfjngdorn 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 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United lfjngdom Generally Accepted Accounting Practi,. and have been prepared in accordance with the Charities Act 2011. Basis for opinlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditors rgsponsibiliti8s for the audit ol thg finanal statements section of our report. We are independent of the charity in accordance with the ethical requirements thal are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fijlfilled our olher ethical responsibilities in accordance with these requirements. We believe that the audit evidence w8 have obtained is sufficient and appropriate to provide a basts for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is approprrate. Based on the work we have perfomied, we have not identilled any matsrial UnrtaIne$ relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sections of this report. Other inforniation The other information comprises the infonnation included in the annual report other than the fina[al statements and our auditaff5 report thereon. The trustees are responsible ft)r the other information contained within the annual report. Our opinion on the financial ststements does not cover the other infomiation and we do not expres5 any form of assurance conclusion thereon. Our responsibilty is to read the other infomiation and, in doing so, consider whether the other infomiation is materially incon5iStent with the financial statements or our knowledge obtained in the course of the audit, or othe¢Se appears to be materially misststed. If wé identify such material inconsistencies or apparent matertal misstatements, we are required to detemine whether this gives rise lo a materral misstatsment in the financial slatements themselves. If, based on the work we have perftjrmed, we conclude that there is a material misststement of this other infomiation, we are required to report that fact We have nothing to report in this regard. Matters on whlch we are requlrod to report by excoptlon We hav8 nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulabons 2008 requires us to report to you if, in our opinion: the information given in the financial statsments is incon515tent in any material respect with the TTUStees' report,. or suffici8nt accounting records have not been kept: or the financial statements are not in agreement with the accounting records; or we have not received all th8 infonnation and explanations we require for our audit.
THRESHOLD HOUSING LINK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THRESHOLD HOUSING LINK Responslblllllos of trustsos As explained more fully in the statement of Trustees. responsibilities, the trustees 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 conlml as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether du6 to fraud or error. In prèparing thé financial statements. the trust8es are responsible for assessing the charity's abilty to continue as a going concern. disclosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. AUdit0S responslbllltles for tho audlt of tho flnanclal statoments We have been appointed as auditor under section 144 of the Charitses Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assuranca about wheth8r the finanaal statsments as a whore are fr8e from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurancB is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to in11uence the economic decisions of users taken on the basis ofthese financial statements. The extent to which our procedures are capable of detscting irregularities, including fraud. is detailed below. A further d8SCriPtion of our responsibilitie5 is available on the Financial Reporting Council's website at https=Il www.frc.org.ukJauditorsresponsibilities. This description forms part of our auditorfs report. other matter8 Your attention is drawn to the fact that the charity has prepared financial statements in accordance with '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) in preference to Ihe Accounting and Reporting by Charities.. Statement of Recommended Practi issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial slatem8nts to provtde a tnJ8 and fair vrew in accordance with currènt Generally Acceptsd AOUntIng Practice. Use ol our report This report is made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To th8 fijllest extent pemiitted by law, we do not accept or assume responsibility to anyone Other than the charity and the charity's trustses as a body, for our audit work. for this report, or for the opinions we have fonned. Haings Watts Swindon Llmlted Isenlor Statutory Audltor For and on behalf of Haine5 Watts Swindon Limited, StatutoryAuditor Chartered AOuntants Old Station House Station Approach Swindon Wiltshire SN1 3DU Date.. 2<2 10-
THRESHOLD HOUSING LINK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THRESHOLD HOUSING LINK Haines Watts Swindon Limrted is eligible for appointrn8nt as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 11
THRESHOLD HOUSING LINK STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 UnrKlrfctod Restrictèd funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notss Incomo from: Donations and legacies Charitable activities other trading actiVFbes Investments 20.767 1,594.307 769 4,429 20,767 1,594,307 769 4,429 28,978 1.372,922 17,659 4.044 28,978 1,372,922 17,659 Total Income 1,620.272 1,620,272 1,423,603 1.423,603 Expendlturo on.. Raising fijnds Charitable activites 15.554 1.215,635 15,554 42,213 1,257,848 1.203,110 1,203,110 Total expendltur• 1,203,110 1,203.110 1.231,189 42,213 1.273,402 Net Incomo 417,162 417.162 192,414 (42.213) 150,201 Transfers betsveen funds 4,826 (4,826) 8,572 {8,572) othor rocognised galns and Ioss05: Revaluation of tangible fixed assets 257.595 257,595 Net movement in funds 10 421,988 (4,826) 417.162 458,581 {50,785) 407.796 Reconclllallon of funds". Fund balances at 1 April 2024 1.711.624 4.826 1,716,450 1,253,043 55.611 1.308.654 Fund balances at 31 March 2025 2.133,612 2,133.612 1,711,624 4,826 1.716,450 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing actiwti8S. Unrestricted reserve5 indude Designated Funds and the Functional Assets reserve. Free assets at the year end were £643,362 {2024: £239,124). 12-
THRESHOLD HOUSING LINK BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixod assets Tangible assets 14 1,406,578 1,445,492 Current assets stock5 Debtors Cash at bank and in hand 15 16 8,149 112,205 941,368 10,000 110,611 511,390 1,061,722 632,001 Credltorg: amounts falling due wlthin one year 1125,8271 (139,919) Net current assets 935,895 492,082 Total assats less current Ilabllllles 2,342.473 1.937,574 Creditor8: amounts falllng due aftèr more than one year 19 (208,861) (221,1241 Net assets 2.133.612 1,716,450 The funds of the charity Restricted income funds Unrestricted fijnds (including Designated Funds and Functional Assets) 21 4.826 22 2.133.612 1.711,624 2,133,612 1.716,450 ?a2S The financial statements were approved by the trusts8s on......................... Ms L Cattelain Vice Chair of Trustses 13-
THRESHOLD HOUSING LINK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash ganarated from operations 443,523 211.379 Invostlng actlvltles Purchase of tangible fixéd assets Procèeds from disposal of tangible fixed assets Investment income received (5,511) (40,848) 2,492 4,044 4,429 Not cash used In Invostlng a¢tlvltle8 11,082) (34.312) Flnanclng activlties Repayment of bank loans {12,4631 (43,565) Net cash used in financÉng activitlos (12,463) (43,565) Not Incroase In cash and cash equivalents 429,978 133.502 Cash and cash equivalents at beginning of year 511,390 377,888 Cash and cash equlvalents at end of yoar 941,368 511.390 14-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charity Infomiatlon Threshold Housing Link is a Charitable Incorporated Organisation. 1.1 Ba818 of proparation The financial statsments have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charitres preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" Th8 charity is a Public Benefit Entity as defined by FRS 102. The financial statements havé departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure ha5 involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has Sin been withdrawn. The financial statements are prepared in stsrfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convèntion. Th& principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial Statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fijture. Thus the trLStees continue to adopt the going basis of accounting in preparing the financial statements. 1.3 Charitablo funds Unrestrictsd funds are available for use at the discretion of the trustees in furtheran of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restrrotsd funds are set out in the notss b the financial statements. Endowm8nt funds are subject to specific conditions by donors that the capitsl must be maintained by the tharity. 1.4 Income Income is recognised when the charity is legally entitled to it after any Perfonan condiknons have been met, the amounts can be megsured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations ar8 recognised once th8 charty has been notified of the donation. unle55 perfoanCe conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an irnpending distribution. the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent a55et. 15
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (Continuod) 1.5 Exponditure Expenditur8 is recognised once there is a legal or constructive obligation to transfer economic bène)It to a third party, rt is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliabty. Expendituré is dassified by activity. The costs of each activity are made up of the total of dir&t costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single actiwty are allocated directly to that activity. Shared costs which contribute to more than one acttvity and support costs which 8re not attributable to a single activity are apportioned been those activities on a basi$ nsistent 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 th8 asset's use. 1.6 Tangible flxod assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation 15 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on th8 following bases.. Freehold land and buildings Fixture5 and fittings Computers Motor vehides So years straight line 3 years straight line 3 years straight line 3 years straight line The gain or loss arising on the disposal of an asset is detemined as the difference behveen the sale proceeds and the carrying value of the asset, and is recognised in the slatement of financial activities. 1.7 Impalrmont of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tsngible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such IndtIOn exists. the recoverable amount of th8 asset is estimated in order to detemiine the extent of the irnpaiThent loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. C05t mpri5es direct materials and. where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable valu8 IS the estimated selling price less all estimated costs of completion and costs to b8 incurred in marketing, selling and distribution. 1.9 Cash and Cash gqulvalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-tenn liquid investments with original maturities of three months or less, and bank ov8rdrafts. Bank overdrafts are shown wÈthin bOowingS in current liabilities. 16-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.10 Flnanclal Instrumonts The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instrumenls Issues. of FRS 102 to all of its financjal instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrumenL Financial assets and liabilities are offset, with the net amounts presented in the finanaal 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 simultan8ousty. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances. are initially measuréd at transaction price including transaction costs and are subsequendy Carried at amortised cost using the effectivé interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the fvture retsipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Baslc Ilnan¢lal Ilabl1•S Basic financial liabilities, induding creditors and bank loans are inittally 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 rats of intsrest. Financial liabilities classified as payable ¥thin one year are not amortised. Debt instruments are Subsequently carried at amorbsed cost, using the effective intsrest 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 as current liabilities if payment is due within onè year or less. If noL they are presented as non-current liabilities. Trade creditots are recognised initially at transaction pri and subsequenly measured at amortised cost using the effective interest method. Derecogniti"on orrinancial liabllities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised In the period in which the employee s services are received. TeThination benefits are re¢ognised immediately as an 8xp8ns8 wh8n the charty is démonstrably committed to temiinats the employment of an employee or to provide tsmiination benefits. 1.12 Retlrement benofits Payments to defined ntributiOn retirement benefft schemes are charged as an exp8ns8 as they fall due. 17-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltical accountlng osllmatss and Judgements In the application of th8 charity's accounting policies, the trustees are required to make judgemerrts, estimates and assumptions about the carying amount of assets and liabilitiès that are not rèadily apparent from othèr sources. The estimates and associated assumptions are based on historical experience and othèr factors that are considered to be relevant. Actual results may differ from these estimates. The estimatss and underlying assumptions are reviewed on an ongoing basis. Rewsions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that perrod, or in the period of the revision and future periods where the revision affects b¢)th current and future periods. Incoma from donations and legacles Unrastrictsd Unrostricted funds funds 2025 2024 Donations and gifts Grants 20,767 25,978 3,000 20,767 28,978 Income from charttable activltleg Unrestricted funds 2025 Unrestrlcted funds 2024 Foos from resldents Servi$ provided under contract 1,594.307 1,372,922 Income from other tradlng a¢tlvltlos Unrestrictsd Unrestrlcted funds funds 2025 2024 Fundraising events Other income 505 17,154 769 Other trading activities 769 17.659 18-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Incoma from Investmonts Unrastrictsd Unrestricted funds funds 2025 2024 Interest re1vable 4,429 Expondlturo on raising fundg Unrestrlcted Unrestricted funds funds 2025 2024 Fundralsing and publicity Staging fundraising events Support costs 13,929 1,625 15,554 19-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlturo on charitable actlvltl8s Supported Supported accommoda accommoda tlon tion 2025 2024 Direct costs Staff costs Depreciation and impairment Consultancy Insurance Telephone and intemet Advertising Repairs and maintsnance Bad debts Propety costs Stsff costs Soare & IT Support Memberships Bank charges Sundry expenses Mortgage interest Rent Light and heat 294,671 44,426 349,201 39,611 46,560 7.852 14,843 1.783 68.517 46.532 47,443 28,458 13.523 842 619 18,727 21.659 319,693 71.104 8,036 19,166 230 71.966 40,156 45,177 55.443 12,765 1,192 534 8,650 19.769 383,346 79,715 1,085,242 1,096,967 Share of support and governance costs (see nots 9) Support 117,868 160,881 1,203,110 1.257,848 Analys15 by fund Unrestricted funds Restricted fvnds 1,203,110 1.215.835 42.213 1,203.110 1,257,848 -20-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to acllvltles 2025 2024 Rates Professional fees Premises rent 27,802 59,777 30,289 28,284 95,415 38,807 117.868 162.506 Analysed botween: Fundraising Supported a¢xommodation 1.625 160,881 117,868 117.868 162,506 10 Net movement In funds 2025 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the audit of the charivs financial statements Depreciation of owned tangible fLxed assets 11.760 44,426 11,400 39,611 11 Trustees None of the trustees (or any persons connected with them) reiVed any remuneration during the year. but the harity covered trustee meeting expenses of £146 (2024- trustees reimbursed £nil)- In the year. one trustee received commission worth £48 when the charity changed utilities provtder. The ttustee was not involved in the decision making to change the provider and the decision was made entirely by thè CEO. No commission was earned in 2024 12 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Numbor 11 Employment cogts 2025 2024 Wages and salaries Social security costs Other pension costs 259.344 20,942 14,385 324,341 19,625 5.235 294,671 349,201 -21
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees (Continuod) The number of employees whose annual remuneration was more than £60,000 is as follows.. 2025 Number 2024 Numbor £60,000 to £70,000 Remuneration of key managomont per80nnel The remuneration of key management personnel was as follows.. 2026 2024 Aggregate compensation 140.658 150,350 13 Taxation The charity 15 exempt from tsxalron on its activities because all its income is applied for charitsble purposes. 14 Tanglblo flxed as8ets Fr•ohold land Flxturgs and and bulldings flttlngs Computers Motor vohlclos Total Cost At 1 April 2024 Additions 1.412,500 30,913 5.511 17,430 8,572 1.469,415 5,511 At 31 March 2025 1,412.500 36,424 17,430 8,572 1.474,926 Depreclatlon and impalrm8nt At 1 April 2024 Depreciation charged in the year 11.956 9,560 10.061 3.759 1,905 2.857 23,922 44.426 28.250 At 31 March 2025 28,250 21.516 13,820 4,762 68,348 Carrying amount At 31 March 2025 1,384,250 14,908 3,610 3,810 1,406.578 At 31 March 2024 1,412.500 18,956 7.369 6,667 1,445.492 15 Stockg 2025 2024 Finished goods and goods for resaie 8.149 10.000 -22-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Debtor8 2025 2024 Amounts falling due wlthln ono yoar: Trade debtors Other debtors Prepayments and accrued income 56,079 2.910 53.216 78,330 2,900 31,381 112,205 110,611 17 Loans and overdrafts 2025 2024 Bank loans 218.118 230,581 Payable within one year Payable after one year 9,257 208.861 9,457 221,124 The long-term loan was secured against freehold property held by the charity The loan was repaid earfy in full in May 2025 18 Crgdltor8: amounts falling due wlthln one year 2025 2024 Notss Bank loans Trade creditors Other creditors Accruals and deferred income 17 9,257 60.267 2,660 53,643 9,457 40,950 3,149 86.363 125,827 139,919 19 Credltors: amounts falllng due after moro than one year 2025 2024 Note5 Bank loans 17 208,861 221,124 20 Retlremont benefit schemes 2025 2024 Defined contrlbutlon schem05 Charge to profft or loss in respect of defined contribution schemes 14.385 5.235 -23-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Retlromant benefit 8ch8me8 (COnnUed) The charity operates a defined contribution pension schema for all qualifying employees. The assets of th8 schème are held separatsly from those ofthe charity in an independently administered fund. 21 Rastrlcted funds The restricted fund5 of the charity comprise thè unexpended balan$ of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2024 Resources expendèd Transfer8 At 31 March 2025 Threadneedle A Chance to Change 2.000 2.826 (2.000) (2,826) 4,826 (4,826) Provlous year: At 1 Aprll 2023 Resources expended Transfers At 31 March 2024 Threadneedle A chan to Change Nationwide Night Watch Project 6,500 4.111 45,000 (4,500) (4,111) 133.6021 2,000 (8,572) 2.826 55,611 (42.213) 18,572) 4,826 22 Unrestrlctod funds The unrestrictsd fijnds of the charity comprise th6 unexpended balances ofdonations and grants which are not subject to specrfic conditions by donors and grantors as to how they may be used. These include designated fvnds which have b88n set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprfl 2024 Incoming rosources Resources gxponded TransferJ At 31 March 2025 Designated IT replacement fund Designated major repairs fund Functional Asset reserve General funds 10.000 50.000 10,000 96,000 653,898 643,362 46.000 653.898 (695,072) 921,272 1.620,272 (1,203.110) 981,272 730.352 1,620,272 (1,203.110) 4,826 1,403,260 730,352 Revaluation reserve -24-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Unre3tr1ctsd funds (Continued) Provious year: At 1 April 2023 Incoming R050urcos rosouKoS expended Transfers At 31 March 2024 IT reserve fund Designated majorfvnd General funds 10.000 50,000 720,286 10,000 50,000 921,272 1,423.603 (1,231,189) 8,572 780.286 472,757 1,423,603 (1,231,189) 8,572 981,272 730.352 Revaluation reserve The Functional Asset reserve consists of property assets essential to the delivery of charity's aims. As such, as permitted under Ihe Charities SORP, the value of these assets do not form part of the chanty's free reserves. The total value of the fvnctional asset reserve as at 31 March 2025 is £1.384.250 and consists of a designatsd fvnd balance of £653.898 and a revaluation reserve relating to these assets of £730,352 The designated IT replacement fund has been set aside for the replacement of the charity's IT systsms. The designated major repairs fvnd has been set aside for planned renewals and refurbishments in line with its planned rna1ntsnan programme, and in order to ensure that the charity is able to meet its maintena obligations on its leasehold properties. 23 Analysls of not assets between funds Unrestrlcted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsl{liabilities) Long tem liabilities 1.406.578 935,895 1208,861) 1,406.578 935,895 {208,861) 2.133.612 2,133,612 Unroslrlcted funds 2024 Rgstrtctsd funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) Long tom liabilities 1,445,492 487.256 (221.124) 1,445,492 492,082 (221,1241 4,826 1.711,624 4.826 1,716,450 -25-
THRESHOLD HOUSING LINK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Relatsd party trdnsactions There were no disclosable related party transactions during the year {2024- none). 25 Cash gonoratod from oporations 2025 2024 Surplus for the year 417,162 150,201 Adjustments for: Invesbnent income recognised in statement of financtal activities Depreciation and impaimient of tangible fixed assets (4.429) 44.426 (4,044) 39,611 Movements in working capital". Decreasel{increase) in stod(s (Increase) in debtors IDecrease)fincrease in creditors 1,851 (1.5951 (13,892) (10,000) (64,078) 99,689 Cash generated from oporatlons 443.523 211,379 26 Anaty8ls of changes In netfunds At 1 Aprtl 2024 Ch fl0*sAt 31 Mar¢h 2025 Cash at bank and in hand 511,390 429.978 941,368 Loans falling due wthin one year Loans falling due after more than one year (9.457) (221,124) 200 12,263 (9.257) 1208,861) 280.809 442.441 723,250 -26-