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2026-03-31-accounts

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TURNING TIDES HOMELESSNESS

TRUSTEES’ REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Charitable Housing Trust

A Company Limited by Guarantee

Registered as Turning Tides Homelessness

Charity Number: 1027832

Company Limited by Guarantee: 2708334

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

CONTENTS

PAGES Reference and Administrative Details of the Charity, ------------------------------------------------- 3 its Trustees and Advisors Trustees’ Report --------------------------------------------------------------------------------------------- 4-22 Independent Auditors’ Report ------------------------------------------------------------------------- 23-25 Statement of Financial Activities -------------------------------------------------------------------------- 26 Balance Sheet -------------------------------------------------------------------------------------------------- 27 Statement of Cash Flows -------------------------------------------------------------------------------- 28-29 Notes to the Financial Statements -------------------------------------------------------------------- 30-41

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Reference and administrative details of the Charity, its Trustees and Advisors

Trustees
Martin Quinn (Chair)
Nicholas Beverley-Hedger (Chair Finance and Audit Committee)
Duncan Anderson
Peter Holloway (Appointed 12 May 2025, resigned 5 January 2026)
Samantha James (Appointed 12 May 2025)
Bill Jones
Victoria Kavan
Daniel Keech
Richenda Kullar (Resigned 12 May 2025)
Ian Mintram (Resigned 12 May 2025)
Judith Parton (Appointed 15 September 2025)(Resigned 3 July
2026)
Neil Ranger (Appointed 12 May 2025)
Jonathan Rosser
**Company Registered number ** 2708334
Charity Registered number 1027832
Registered office Worthing Town Hall
Chapel Road
Worthing
West Sussex BN11 1HA
Company Secretary Richenda Kullar (Resigned 12 May 2025)
Mary Maher (Appointed 24 April 2026)
Chief Executive Officer John Holmström
Independent Auditors Lewis Brownlee (Chichester) Limited
Appledram Barns
Birdham Road
Chichester
West Sussex PO20 7EQ
Bankers HSBC
Goring Road
Worthing
West Sussex BN12 4AW

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Chair’s Statement

This report shows how the organisation’s incredible staff, volunteers and supporters have all helped to deliver housing, addiction recovery, and practical advice, help and support to our clients as we strive to meet our mission to end local homelessness.

Turning Tides helped nearly a thousand people this year to step out of the margins of society and begin to find a pathway out of homelessness. We have seen people from all walks of life, many of them newly homeless due to the cost-of-living crisis and struggling to process what has happened to them. Nevertheless, alongside the trauma and hardships, we are also humbled and amazed to see the transformations people make when they are given the right support, in the right way, at the right time. This profoundly individual, sensitive, and holistic approach underpins all of our work.

During the year we were delighted to open Skywaves, our new, purpose-built, supported housing facility which has 21 fully self-contained flats and multi-agency hub. We also opened 13 move on flats at Evans Court. These facilities are the product of a wonderful collaboration between Turning Tides and Worthing Homes, who developed the project and Worthing Borough Council and the Ministry of Housing Communities and Local Government (MHCLG) who provided financial support. We are extremely grateful to our partners for their support in helping to deliver this pioneering project.

In March 2026, we were proud to receive an award from the High Sheriff of West Sussex, recognising our Community Hubs in Worthing and Littlehampton for their contribution to “engage, motivate and inspire life changes for homeless people”.

A major challenge continues to be the increasing complexity of clients with whom we work. This is often associated with the increasing impact of substance use and connected poor mental health. Our prompt and thorough response to this issue is a great example of the commitment shown by our Team. We are extremely grateful to all of our dedicated staff.

During the year the decision was taken to reduce the number of spaces at one of our facilities, Roffey Place, in order to ensure that the service was fully able to meet the needs of high support clients. This was the main factor in the charity unusually, having a large operating deficit for the year. Set against this, we received a large legacy during the year which means the charity remains in a healthy financial position to support our residents and clients.

Looking ahead, we are aiming to become registered as a Housing Association. We have applied to the Regulator for Social Housing, and at time of writing, the outcome of the application is pending. We are excited by the opportunities that registration will provide.

If you have supported Turning Tides during the last year – in any way at all, it might be through donating your time as a volunteer or donating goods or money – we are extremely grateful and would like to thank each of you. Your generosity helps people to find lasting pathways out of the desperation of homelessness. Your support continues to be vital.

Finally, on behalf of the Board of Trustees, I would like to express our heartfelt thanks and gratitude to all of our staff for their huge commitment, compassion and dedication shown every day in support of our clients.

Martin Quinn Chair of Trustees June 2026

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

The Trustees present their annual report together with the audited financial statements for the year 1 April 2025 to 31 March 2026. The Trustees confirm the Annual Report and financial statements of the Charity comply with current statutory requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to all charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102, effective 1 January 2019). The Charity is a Charitable Housing Trust as defined by the Housing Association Act 1985.

Since the Charity does not qualify for the small companies’ regime, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 is included.

About Turning Tides

Turning Tides Homelessness, previously Worthing Churches Homeless Projects (WCHP), was established by a group of local Christians in 1992, providing practical help and support to the local people sleeping rough in Worthing. The Charity was renamed in 2018 as Turning Tides Homelessness (known as Turning Tides), reflecting the development and delivery of services across West Sussex..

Now, Turning Tides provides a wide range of homeless support services across the county, all striving to achieve complete pathways out of homelessness. The Charity looks to enhance and develop a broad range of services to meet the diverse needs of those who have nowhere to call home.

Approach of Turning Tides

Fundamental to the Charity’s approach is understanding that every client has their own unique set of circumstances which led to them becoming homeless. Consequently, we offer a varied and holistic model spanning low, medium, and high support services. Empowering each client to achieve independent living is a unique personal journey, requiring services to be responsive and tailored, innovative and diverse.

Turning Tides is firmly committed to being psychologically and trauma informed (a PIE approach: Psychologically Informed Environment). This means we work carefully to understand the typically traumatic events leading to a person becoming homeless and the emotional impact of their experiences. We seek to produce a safe, positive relationship and environment so clients can begin to rebuild their lives and thrive. Our services are continually developed and delivered so we can respond best to client needs.

Taking a strengths-based and systems approach, Turning Tides also seeks to coordinate resources across the sectors and within the community. Ending local homelessness cannot be achieved by the Charity alone. Time and again the challenges and barriers facing clients are systemic. The Charity listens to their experience and works with colleagues in other related systems such as housing, health, social care, substance use and criminal justice to create a “coalition of the willing” to end local homelessness.

Charitable Objects

Turning Tides is a charitable housing trust and a charitable company whose objects, as set out in its Memorandum of Association,are to relieve poverty through the provision of emergency and other accommodation, advice and assistance for persons who are deemed homeless and / or in need of such accommodation, advice or assistance.

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An application was made in March 2026 to the Charity Commission to add “social housing” to the provisions under the Objects to meet the requirements of the Regulator of Social Housing for application as a housing association. The Charity Commission approved our application in June.

Our Mission, Purpose, Commitment and Ambitions

Our Mission

Ending local homelessness

Our Purpose

To provide safe and inclusive pathways out of homelessness through outreach, supported housing and by engaging communities

Our Commitment

Our Values

Our Belief

We respect all beliefs and value our Christian roots

Services of Turning Tides

The Charity provides services that are designed to save lives and turn lives around through the provision of pathways out of homelessness. This is delivered by a diverse holistic range of services that meet the complex needs of some of the most marginalised members of our community. We operate in communities across West Sussex covering Adur and Worthing, Littlehampton, Horsham District, Mid Sussex and Crawley.

978 clients were supported by us in 2025/26, 376 of whom were new to our services, demonstrating the ongoing need for our support.

At year end March 2026 the Charity had 175 paid staff and 184 volunteers who currently deliver:

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Community Hubs in Worthing and Littlehampton

The hubs provide direct access for those who are street homeless or insecurely housed, and they aim to engage, motivate, inspire and create hope through providing a friendly non-judgemental service with practical support, access to food, showers and clothing and a pathway into secure short-term and long-term accommodation. The specialist staff teams in the hubs include social workers, substance misuse and mental health workers and our volunteer peer support workers who have recent lived experience of homelessness, as well as the volunteers who support the hubs with cooking and managing the service.

Turning Tides recognises it cannot end homelessness on its own and as such the hubs serve as a multi-agency provision for;

Groups and community inclusion activities are held on site to promote social inclusion, helping to reduce the stigma of homelessness. Such activities include cooking, music, art and digital support with IT numeracy. We also have our own in house counselling services.

Outreach Services 2025/2026

Our specialist outreach teams across West Sussex deliver services in: Adur, Worthing, Littlehampton, Horsham, Mid-Sussex and Crawley. These services aim to engage with the hardest to reach, including those in the more rural districts, those who are rough sleeping and those who are insecurely housed often in temporary accommodation. They provide rapid interventions, advice and support into accommodation and specialist services that can meet their individual needs. Typically, these include our substance misuse, well-being and mental health services which adopt a multi-agency approach to supporting and reducing the risk of harm to some of most at risk, adopting an assertive engagement model that provides hope and opportunities.

High Support Residential Services

These services provide staffing cover 24 hours a day including waking night cover and are designed to meet the needs of some of the most vulnerable and at-risk individuals in our community. Combined these services provide 120 bed spaces, the details of which are:

Medium and Low Support Move on Housing

These services provide staffing cover during core hours mainly 9am-5pm with some weekend cover and are designed to provide stepped lower support from our high support services into more independent living. They generally consist of smaller accommodation units that look no different to any other house in a street. Combined, these services provide 17 properties with 118 bed spaces.

• Worthing - 8 houses (66 bed spaces)

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Housing First

We support residents across West Sussex in our specialist Housing First service that provides intensive wrap-around support for people in their own home, specifically designed for a cohort who struggle with communal living and who have historically not thrived in other housing. Residents in this service have their own self-contained flat which may often be a direct let from other housing providers.

Multi-Disciplinary Team – specialist Turning-Tides staff who provide additional support to clients in our services:

Strategic Review

The Board of Trustees sets an annual budget accompanied by a 5-year financial Business Plan in March each year. The Board and Senior Management Team held an annual business planning awayday (November 2025) to set the strategic direction of the 5-year Plan and a strategic risk workshop (January 2026). This is accompanied by a detailed Organisational Plan which sets out how the Business Plan will be delivered.

The Organisational Plan has three overarching objectives which are the Commitments above. Progress against the Plan is reviewed quarterly by the Senior Management Team and Board of Trustees using a Red Amber Green (RAG) system. In addition, Key Performance Indicators (KPIs) are monitored across all the Charity’s services and functions. These are also reviewed quarterly by the Senior Management Team and Board of Trustees.

Achievements, Challenges and Performance

Our dedicated staff and volunteers strive to ensure no one faces the trauma of homelessness alone, and during the period of this report they supported a record number of 978 people.

Our Services

Our drop-in Community Hubs and Outreach Teams have helped 736 people over this period. The work with new clients is a challenge; 376 of the supported people were new to Turning Tides. Our hubs continue to be a significant point of contact for clients with an average of 300 clients accessing the hubs every quarter. Over the year, 7279 drop-ins occurred at our hubs.

The majority of our clients are males (89%) between 25 and 65 (97%) and are White British (87%). However, we continue to engage with all parts of the wider community, and are working to ensure the

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environments we offer are warm and welcoming to all from every background. The cost-of-living crisis is continuing to extract a heavy price from many in our society who have little savings or support on which to lean. This is impacted by fuel poverty and the continuing impact by the oil crisis created through external factors such as the war in Ukraine and the conflict in Iran.

We continue to improve the offer we have for clients. Evans Court, our purpose-built residence of 13 self-contained flats opened in April 2025, and Skywaves, our new purpose-built residence of 21 selfcontained flats opened in August 2025. The design of these services was co-produced with our clients' needs at their heart. We are very grateful to Worthing Homes for developing them for us, and the financial support of Worthing Council and the MHCLG.

Challenges

The Local Government Review has presented some significant challenges. The uncertainty of how the county will be divided and what the future holds has created an inward-looking culture from our Borough and district councils. These councils are also under significant funding constraints which has impacted on how they are commissioning work. Several councils have chosen to bring work in-house rather than commission for the voluntary sector to deliver. This has meant services we had once delivered have either been taken in-house for direct delivery by the councils or that services have been cut to make savings.

This shrinking or move of provision is impacting our clients as there are fewer services for them to access, and those who are the most vulnerable are at greater risk of falling through the gaps in the system.

Recent Achievements

Our Housing First service has been recognised nationally, having been shortlisted in the Social Care category at the 2025 Charity Awards. The outcomes achieved through this service are exceptional, particularly in supporting people whose needs are not met by traditional pathways. Sussex Partnership NHS Foundation Trust (SPFT) has commissioned us to deliver Housing First to their client group, recognising the strong alignment of this model with the needs of people experiencing poor mental health.

The opening of Skywaves and Evans Court represents a significant step forward for the local system. These developments are the result of strong co-production and are groundbreaking in being purpose-built, supported accommodation. The partnership between Worthing Borough Council, Worthing Homes and our organisation demonstrates what is possible through collaborative working, offering a replicable model for other areas and introducing a new, hub-based approach connected directly to accommodation.

In March 2026 the High Sheriff for West Sussex gave an award recognizing our Community Hubs in Worthing and Littlehampton for their contribution “to engage, motivate and inspire life changes for homeless people”.

Our Team

We are incredibly grateful to our staff for their huge commitment and dedication throughout the year and the continued challenges faced by the Charity. Operational staff are, understandably, feeling the stretch as they manage an increase in client needs alongside an increase in complexity, and their work is a constant source of pride for the Trustees.

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Investing In Our Teams

Once again, we are indebted to our inspirational, generous and caring staff for their continued commitment to the mission and vision of Turning Tides. They are the key to the success of the Charity and are integral to making Turning Tides a great place to work. Through co-production, staff are involved in various initiatives to ensure we continue to improve how we go about our day-to-day work. We value staff input and feedback into everything we carry out, and everyone can have their say through ‘Your Voice’, our internal staff feedback forum.

We have launched our new set of values and we are working to embed these throughout the Charity. This will be the focus of our next staff conference.

We attach great importance to training our people. We have made good progress on compliance and mandatory training and reflective practice for our Operational Teams. We have developed a new range of training which is bespoke to the needs of the Organisation. This includes a wide range of supplementary training alongside an extensive library of online courses and learning, to support continual development of skills.

Diversity, Equity, and Inclusion

Diversity, Equity and Inclusion continue to be an area of increased focus and activity. We collect data from our staff annually and have discussions with staff in Your Voice meetings, with a group comprising staff from across the Charity.

Health and Wellbeing

The challenges we all face in our wider lives can have an impact, which sometimes affects our mental health and/or our financial situation. As a person-centered Charity, the health and wellbeing of all our stakeholders, including clients, volunteers and staff, is an ongoing priority.

We are pleased staff continue to be offered Medicash. It offers a wide range of training, mindfulness meditations, 24-hour GP service, digital physiotherapy along with the cash plan element with the option of adding family members. We also continue to offer the 24/7 Employee Assistance Programme which offers 1:1 counselling for employees and assistance with any work, personal or family issues.

In addition, Reflective Practice and our internal Counselling Team continue to be key in offering support to our frontline Teams who often deal with trauma, and we are looking to develop this offer in 2025/26.

Volunteers

Volunteers are crucial to the delivery of our services and their support can be transformational for clients. This year 178 volunteers supported our work across the Charity, providing a generous and hugely valuable 9,649 hours of support. We also held many corporate volunteer sessions and their support was vital in getting Skywaves ready to open.

We are in awe of all the wonderful volunteers who give their time so freely to support the people we serve. Without them we could not achieve these amazing outcomes.

Community Support

Turning Tides continues to rely on the generosity and support of the local community, and the Trustees are deeply grateful to all those who are able to donate. During the year, the Fundraising and Communications Team worked diligently to raise £478k in unrestricted income through a mix of new

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and established events, campaigns and activities. Individual giving performed strongly, exceeding the target by £90k. Legacy income was very strong this year of £1.2m, mainly due to a £1.1m legacy from Jean Saunders, one of the early supporters of the charity and for many years chair of its Fundraising Committee. She continued to volunteer for the charity supporting the Art Group at St Clare’s until shortly before she died. She is remembered with great affection and gratitude.

In response to changing supporter behaviour, the Charity has diversified its fundraising events programme. Evidence gathered through improvements in digital tracking and communications has - shown lower engagement with high adrenaline events such as abseils and skydives. As a result, we - are shifting events towards more locally focused, community based fundraising. New initiatives such as the ‘11 in January’ walk, Barks in the Parks, and other local events are being trialled and evaluated to assess their impact and return on investment.

The Charity has also benefited significantly from the continued support of Phil Heckels (Hercule Van - Wolfwinkle). His 12 Days of Christmas challenge and 500 mile walk raised over £19k during the year. We are extremely grateful for his amazing commitment. He plans to undertake a South Downs Way walk to raise further funds in the coming year.

The publication of the 2025 Impact Report highlighted many aspects of the Charity’s work, including a strong focus on our hub model. The report featured Jamie’s story, supported by a video campaign delivered in partnership with Molokini. This year, the Impact Report and the Christmas fundraising campaign were separate appeals. This approach resulted in increased donations, with a significant uplift in individual giving compared to December of the previous year. In addition, a new digitally focused spring campaign, The Elephant in the Room, was launched. This campaign achieved strong engagement across social media channels and led to a notable increase in individual giving during the spring period. This campaign gained support and input from students at Northbrook College who undertook some of the social media work.

The team continued to deliver a wide program of speaking engagements and networking events across West Sussex to raise awareness of homelessness. Support came from a broad range of sectors including schools, churches, corporate partners, social groups and sports clubs. Relationships with organisations such as Lancing Business Park, the Hackett Group and Paula Rosa Kitchens generated funding and strengthened the Charity’s presence across the wider community.

Communications activity attracted increasing media interest over the year. While coverage was quieter in the early part of the year, the second half of the year saw a significant increase in media presence. This included television and radio coverage with BBC South East, ITV Meridian, BBC Sussex and Heart FM. Overall we had 12 stories taken up by news outlets. The opening of Skywaves further supported this increased profile, alongside a more proactive approach to media engagement.

The Communications Team was expanded with the appointment of a Communications Officer. Their frontline service experience has proven invaluable in strengthening messaging and ensuring closer alignment between communications and operations. Key achievements during the year included the launch of a new website, and contributions to the development of the Charity’s new values and intranet platform. Social media growth targets were met despite the decision to stop using X, with Instagram performance in particular strengthening engagement with a younger audience.

Our new donations hub opened, and we have seen a significant engagement with the hub. The hub was able to source significant donations for Skywaves and Evans Court and managed to fit out the rooms under the set budget. Overall, the donations hub has provided £121k of goods during 2025/26. Support from local businesses such as C Supplies has attracted donations of new goods and our Amazon Wish-lists have been a great success allowing donors to send brand new goods that we need directly to the hub from the comfort of their home. C Supplies purchased all of the meat for our clients Christmas dinners and has also worked with us to be able to source products at cheaper rates than we could achieve.

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Within this our Digital Inclusion service has been noted as the gold standard of digital inclusion work and undertook a key role in a study, Empowerment, creating a tool kit for others to follow. This was done in partnership with Stonepillow, University of Sussex and NHS Innovations.

During the year, the Organisation secured £1.94m through tendered funding, the majority of which was awarded through contracts to deliver services. Of this total, £272k was secured from trusts and foundations. The overall success rate for funding applications was 43.75%, significantly above the national average of 35.6%.

Achieving these outcomes has become increasingly challenging. Trusts and foundations are facing a substantial rise in application volumes, and national trends show declining success rates across the sector. In response to a more competitive funding environment, the Charity has continued to diversify the range of funders it approaches.

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Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Key Performance Indicators

Commentary on KPIs

This year’s figures are starting to show some of the impacts of the current political and financial landscape we operate in, with some of our contracts not being renewed (despite overperforming) or being taken in-house by our local authorities. This has meant an overall reduction in the number of people we have supported this year even when we see an increase in the overall rough sleeper numbers. This is coupled with a steady increase in the complexity of needs (physical, mental health and social care needs as well as younger people and people with multiple and complex needs) presented by the people we support and this is reflected in the increase in Safeguarding concerns, which are up by 17%. This has resulted in a very difficult operating picture overall.

Despite this we have increased our overall units of accommodation over the last year, with reductions in the north of the county at Roffey Place offset by the opening of two new flagship services in Worthing; Skywaves House and Evans Court. In our high support services, we have seen a slight

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decrease in planned move-on successes, again reflecting the increasing complexity of our clients and the newness of some of our services. The low support ‘Move on Housing’ services have seen an 11% increase in planned positive departures, helped by the ongoing efforts of our dedicated Resettlement manager and the invaluable grant funding to help finance moves out of our services into independent living. Both high and low support services have seen a large increase in the number of new clients supported last year.

The pressures of underlying homelessness on our Councils is also evident with ever increasing numbers of single people in temporary accommodation. However, set against this we saw a reduction in the number of people sleeping rough in Worthing in the November 2025 official rough sleeper count, following the opening of Skywaves and Evans Court, whereas in other parts of West Sussex the number increased.

Other evidence of the positive impact of our services can be seen in the consistent reduction of clients returning to the streets after accessing support from our services. In 2023/24 there were 57 clients who returned to rough sleeping. This number has had a year-on-year reduction with 28 people returning to the streets this year 25/26, despite the increased complexity of need.

The slight drop in Health and Safety performance was due to contractor availability for PAT testing in Q3, which meant deadline was missed by a month. The response times for our dedicated Maintenance team remain very strong, at 100% for emergency tasks .

We have seen an increase in complaints, largely due to better recording, and this trend is likely to continue as we make improvements in the way we record and handle complaints. We view all feedback as a welcome learning opportunity.

Quality /Compliance

This year has seen a continued focus on improving quality and consistency in the organisation, as well as a drive to increase compliance with health and safety regulations and getting ready for housing association registration.

A new Head of Quality was appointed in April 2025 with a remit including governance, organisational risk, policies, processes and compliance. This has included a continued evolution of Turning Tides’ internal Quality Audit framework. The team achieved their targets, and all sites (bar one undergoing major building work) were audited in the 25/26 cycle. The audits score against a set criterion across six key areas and the total average scores are shown in the table below:

There has been a steady trend of improvement across all areas, and it is good to see all areas are

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now compliant, albeit with some room for improvement. The Health & Safety (H&S) score in this context focuses on the day-to-day work of teams (rather than the more general Building Compliance – as seen in KPIs), including weekly /monthly monitoring of risk and compliance. This is an area that the Quality team is focusing on with a view to improving general understanding and compliance in teams across the organisation.

Further to that aim, the team has reviewed Health & Safety policies, adding clarity and more detailed information and instruction, in particular around Food Safety, COSHH and Driving at Work. There has also been an increased focus on training, with managers receiving an overview on ‘Managing H&S’ as well as external training in ‘Managing Legionella risk’.

The year ahead will see more work around H&S awareness, risk assessments and following feedback from managers, some further tweaks to the Audit framework.

In addition to this, there has been a great deal of collaboration between the Quality and Operations teams, with focus on improvements and consistency in systems and approaches around housing management, in particular the issuing of licences to clients and the appeal process when things go wrong, with further work planned around support interventions and warnings, to help clients stay on track with their journey out of homelessness.

The organisation’s Complaint Policy and Procedures has also been rewritten and set up on a single system, enabling better oversight and data, and is now in line with the requirements of the housing ombudsman, in readiness for our housing association application.

Future Plans

In November 2024 we held Board/SMT away day facilitated by Pentatonic consultants to become a higher performing team. It reviewed the results of a full staff survey and concluded that most urgent was to

We successfully developed and implemented these in 2025 with a programme that culminated in the June 2026 staff conference. Our future plans are guided by the Commitments:

The Board/SMT Strategy Day November 2025 fully explored changes in the funding/commissioning environment and risk to non-residential outreach/complex needs roles and Housing First due to short term funding coming to an end.

The future of Roffey Place was carefully considered. During summer 2025 decision was made to reduce number of bedspaces from 50 to 35 in order to make sure the service was able to meet the needs of high support residents. The lease and temporary planning permission expires in October 2027. An extension will be sought until long term provision can be secured.

An outline asset management plan was presented which was fully developed for Board approval in March 2026. This presented a 30-year stock condition survey with costs to maintain properties at Decent Homes Standard and net zero. Property efficiency and return on investment were also provided to inform future investment plans. The Strategy Day and final Business Plan approved in March 2026 affirmed the centrality of registering as a housing association in order to develop

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The Business Plan also affirmed sustaining the Worthing and Littlehampton hubs as mission critical and a priority for future funding.

Principal Risks and Uncertainties

Turning Tides has a formal risk management process to assess the risks faced by the organisation and the treatment plans needed to mitigate them.

This involves Senior Managers and Trustees coming together in a risk workshop to identify the types of risks we may face, score them in terms of likelihood and impact as well as identify the target risk we are aiming for by our mitigation treatment plans.

This analysis forms the Risk Register. This is reviewed regularly by the Head of Quality, Senior Management team and the Board of Trustees in line with their responsibilities.

Turning Tides have a robust Organisational plan and monitor Key Performance Indicators quarterly to ensure risks are sufficiently mitigated where possible and issues are corrected in a timely fashion. This year’s Top Risks and high-level mitigation plans are shown in the table below:

Risk description High level treatment plan
The risk that Turning Tides finances/service
provision buffeted by financial shocks due to
world instability, recent Iran war affecting
inflation and oil prices. Risk also that public
finances and commissioning effectiveness
weaken due to Sussex wide Local Government
Review and ICB cuts/restructure which
increases difficulties and complexity for
business planning.		 Maintain high profile through systems
leadership approach, in particular with mayoral
candidates, senior council officials and
politicians and take active role to help shape
future housing/homelessness/ substance
misuse and complex needs plans for Sussex.
There is a risk that Turning Tides doesn't meet
business plan ambitions, as does not
effectively mitigate stress scenarios in
business plan, meet income growth and
fundraising targets, or effectively prioritise
growth opportunities resulting in the
contraction of the charity, and loss of
external/internal confidence. Clients suffer due
to withdrawal of critical services.		 1. The organisation has a robust stress-tested
Business Plan and budget as well as a new
Asset Management Plan, a £13m asset base
and very minimal borrowing. The risk scenarios
in business plan are reviewed quarterly to
ensure mitigation plans are effective, with
particular focus on those with higher impact
and/or higher likelihood of occurrence.
2.To have Organisational plan with clear
growth milestones to ensure replacement
income is found and planned growth is
achieved. Actively looking at tender portals and
grant funding opportunities. Assess new
opportunities against Business Plan criteria
and ensure SMT consensus on priorities.
3. Generate contingency plans to reduce costs
if income targets are missed, including flexing
staffing and controllable costs. Standardise
contingency planning to manage the end of
short term funding effectively,in the event

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Risk description High level treatment plan
service reductions required to limit client and
financial impacts.
There is a risk that Roffey Place could not run
safely due to location, building standard,
financial risk. There is a lack of alternative
provision, there are 2 years left on the lease of
the property. This would negatively impact on
the Business plan, client needs and
reputational confidence if a sustainable long
term plan is not achieved.		 Financial risk partly mitigated against through
approved Housing Benefit increases on 35 bed
spaces. Location is both a strength and a
weakness as isolation reduces impact on
communities and suits some clients. Shuttle
service provided by Turning-Tides to support
access to the town centre and for
appointments and specialist services are
brought to the site. Works for roof are
budgeted for. Actively seeking replacement
site but a level of stability at present. Develop a
medium and long term plan for either retaining
and developing the site or securing alternative
site. Negotiate lease and temporary planning
permission fromOct 27.
Increased risks of errors and system failures,
due to the organisation's financial systems
(budget, SAGE, Rent) not being fit for our
current size and complexity, relying on manual
processes, complex Excel work and there are
some key personnel dependencies. Payroll
and HR systems are separate, and more
effective communication isneeded.		 Exploration, including external research and
internal diagnosis of aims, outcomes and
needs of a new system. Review of options,
whether separate or full integration system.
Project plan for testing, integration and
training.
There is a risk of Cyber-attacks through
phishing, ransomware etc that could lead to
GDPR data breaches, loss of data and
systems and costs to the organisation.		 Charity-wide training on the current platform.
Reinstate guidance inductions. Review of
security measures with IT provider including
potential intrusion testing.

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Financial Review

During 2025/26 Financial Year Turning Tides made a management accounting deficit of £363k with an adverse variance of £446k to the budgeted surplus of £83k. Careful management of activity through continual reforecasting of income and expenditure as well as exploring new sources of funding will be needed in future years.

The following table shows the reconciliation between statutory accounts and management accounting financial performance.

Reconciliation 2025
2026
£k
£k
Management accounts surplus /(deficit) 397
(363)
West Hill,Ravenscourt Trust and other smaller fund movements (29) (59)
Jean Saunders legacyof 6properties 1,110
Review of capitalisationpolicyand accountingadjustments (9) 20
Net statutorysurplus before transfers 359
708

The Charity strives to make efficient use of its resources and has achieved an average occupancy level (including maintenance voids) of 94.5% (2025: 94%). Bad debts were 2.3% (2025: 1.4%) of rent receivable against a target of 2.5%.

Reserves Policy and Going Concern

The Charity aims to match income and expenditure year to year while maintaining a suitable level of cash reserves. Having a Reserves Policy helps inform the way in which a charity manages its cash, liquid assets and debt. Free Reserves are defined to be cash held in current, deposit or fixed term investments that are not already specifically committed or designated to a particular purpose or expense.

Reserves should be consistent with ongoing activities and financial commitments such that reductions in and/or loss of income streams do not have an immediate adverse impact on clients or staff. This is particularly crucial for Turning Tides as much of our funding from commissioners and trusts is short term. This can sometimes produce an environment where we are empowered to support people for all too brief a period and then have to close a project. Consequently, we strive for reserves which enable us to commit to services longer term and bring lasting change to the lives of clients.

Cash reserves also provide vital funding which allows us to 1) respond in an agile manner to increased need and 2) trial and deliver interventions the wider systems have failed to put in place.

The Reserves Policy contributes significantly to the Board’s ability to balance the needs of current and future clients, to provide supporters and stakeholders with assurances the Charity is well-managed and it has, where appropriate, a strategy for building up reserves. The Reserves Policy also assists when planning and explaining our mission to supporters and stakeholders, and how it is vital for us to retain resources, focus and energy. This is because our mission is not simply to maintain the delivery of our current support services – we also need to innovate, grow and develop services, systems and partnerships that can contribute towards the ending of local homelessness.

In setting the appropriate level of Reserves the Trustees have considered the following:

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Using the policy described above, Trustees, in collaboration with the Chief Executive and Finance Director, have agreed the following thresholds:

£
Minimum reserves level
Sudden loss of fundingfor individualprojects £200k
General loss of fundingin oneyear £550k
New opportunities not in Business Plan £250k
Total £1,000k
Maximum reserves level
Double the minimum reserves level
(being approximately 3 months operating costs at the time the policy was set)		 £2,000k

If reserves fall, or are forecast to fall, below the minimum level agreed, the Trustees will work with the Chief Executive and Senior Management Team to agree plans and drive actions which will replenish reserves to above that minimum.

Conversely, if reserves rise above the maximum level agreed, the Trustees will support the Chief Executive and Senior Management Team to ensure the surplus is explicitly considered. Future plans will utilise the resource to further the Charity’s aims, over a defined period, so reserves are brought back within the agreed range.

At the year end, total funds were £7,885k (2025: £7,177k). Free reserves (cash less restricted and designated reserves which are unrelated to Fixed Assets) amounted to £1,574k (2025: £1,562k) which is at the middle of the agreed range and, therefore, the Charity is well positioned to face a period with potential financial challenges ahead.

Funds received from Adur Furniture Network have now become unrestricted as per the terms of the agreement. These have been transferred into a designated reserve and will be utilised if/when an appropriate opportunity with long term, sustainable benefit is identified.

The Jean Saunders estate included a legacy for the charity of six properties with estimated value of £1,110k. These were transferred in January 2026 and have been accounted for as a new designated reserve for future investment in the charity for a long-term benefit for our charity and our clients.

The charity is now operating a sophisticated 30 year planned maintenance programme and a Board approved Asset Management Plan. It has therefore released the previously designated reserve.

Structure, Governance and Management

Turning Tides is a registered Charity and is registered as a company limited by guarantee. Trustee members are also Directors of the Company.

The governing documents of the Charity are its Memorandum and Articles of Association. The latter was updated in line with good practice in 2024. An application was made to the Charity Commission in March 2026 to add to the Objects the provision of Social Housing and this application was successful.

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

There are currently 10 Trustees out of a maximum possible 12 with recruitment underway for the remaining two places. The Board looks to improve its diversity where possible, as well as recruiting members with lived experience. It also looks to for a range of skills and makes sure any skills gaps are addressed as part of appointment decisions.

The Board agreed the outcome of a Board effectiveness review in May 2026 that it was committed and values driven, that there was a high level of trust and respect amongst Board members, that the culture was respectful, constructive and increasingly confident to challenge, that the Board had a strong shared purpose, and that there was consistent support for the Chief Executive.

In order to become even more effective, the main improvement opportunities identified included strengthening the trustee induction process, implementing the revised committee structure with increased focus on risk, and continuation of the work to reduce the volume of papers and increasing the focus on decision-critical items at Board meetings.

The organisation is currently undergoing the process of applying to become registered with the Regulator for Social Housing as a Housing Association. As part of this the Board have adopted the National Housing Federation’s Code of Governance and self-assessed against this as part of getting ready for registration.

The Board meets as a full Board at least 6 times a year. The Board have agreed on a new Committee structure, which will be implemented next year (2026-27) to improve Governance and assurance in the organisation. This increases the structure from the current two committees (Finance & Audit and Remuneration) to four and will consist of:

As well as this the Head of HR will report in twice per annum to the overall Board on matters regarding People and Culture.

Each committee will have 3-5 trustees and a lead from the senior leadership team, as well as 1-3 independents. The Chair of each committee will report into the main Board. Trustees will always be in majority.

Each Trustee receives an induction and training, and has a link to a part of the organisation such as operational services or the fundraising team for example. Trustees are all volunteers and receive no remuneration.

Trustees are required to disclose all relevant interests and register them with the Chief Executive and withdraw from any decision-making process where there is a conflict of interest.

The Board of Trustees is the governing body of Turning Tides and is responsible for all its activities. The operational running of the Charity is delegated to the Chief Executive and the Senior Management Team.

Public Benefit Statement

Turning Tides’ charitable objects are the relief of poverty through the provision of accommodation and advice to those who find themselves homeless or at risk of homelessness. The services are provided across West Sussex.

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

As a Charity with a Christian background and ethos, Turning Tides provide services to any adult member of the general public regardless of whether they have a personal faith in any religion or denomination or none.

Turning Tides asks for no membership fees from individuals in order to benefit from assistance.

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

Turning Tides Homelessness R ep o rt s and Financial Statements for the Year Ended 31 March 2026

Trustees’ Responsibilities Statement

The Trustees (who are also the Directors of Turning Tides Homelessness for the purposes of Company Law) are responsible for preparing the Trustees' Report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Each individual Trustee, at the time when this Trustees' Report is approved, has confirmed:

Approved by order of the members of the Board of Trustees on and signed on their behalf by:

Martin Quinn Chair

Nicholas Beverley-Hedger Chair Finance & Audit Committee

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TURNING TIDES HOMELESSNESS

Opinion

We have audited the financial statements of Turning Tides Homelessness (the 'charitable company') for the year ended 31 March 2026 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'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 concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TURNING TIDES HOMELESSNESS

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance 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 influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TURNING TIDES HOMELESSNESS

Our responsibilities for the audit of the financial statements

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Alexander FCCA FCA (Senior Statutory Auditor) for and on behalf of Lewis Brownlee (Chichester) Limited Statutory Auditors Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ 27 August 2026 | 15:25 BST Date: .............................................

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
1,567,357
Charitable activities
5
Byron, Manor, Roffey and Skywaves
2,986,628
Recovery Services
1,229,014
Move on Housing
1,891,619
Homelessness Services
1,278,788
Central
-
Fundraising events
59,955
Donated Goods & Volunteering
36,793
Investment income
4
57,890
Total
9,108,044
EXPENDITURE ON
Charitable activities
6
Byron, Manor, Roffey and Skywaves
2,737,478
Recovery Services
1,016,071
Move on Housing
1,404,888
Homelessness Services
1,625,875
Central
1,151,668
Fundraising events
187,128
Donated Goods & Volunteering
247,716
Total
8,370,824
NET INCOME/(EXPENDITURE)
737,220
Transfer between funds
19
154,387
Net movement in funds
891,607
RECONCILIATION OF FUNDS
Total funds brought forward
6,993,457
TOTAL FUNDS CARRIED FORWARD
7,885,064		 Restricted
funds
£
-
-
-
-
156,997
-
-
12,367
-
169,364
-
-
-
-
198,990
-
-
198,990
(29,626)
(154,387)
(184,013)
184,013
-		 2026
Total
funds
£
1,567,357
2,986,628
1,229,014
1,891,619
1,435,785
-
59,955
49,160
57,890
9,277,408
2,737,478
1,016,071
1,404,888
1,625,875
1,350,658
187,128
247,716
8,569,814
707,594
-
707,594
7,177,470
7,885,064		 2025
Total
funds
£
512,363
2,546,108
1,150,893
1,717,988
1,638,895
1,455
111,675
21,872
16,673
7,717,922
2,521,666
1,112,066
870,337
1,675,204
809,308
165,891
203,752
7,358,224
359,698
-
359,698
6,817,772
7,177,470

The notes form part of these financial statements

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

BALANCE SHEET

31 MARCH 2026

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
5,577,091
Investment property
12
330,000
5,907,091
CURRENT ASSETS
Debtors
13
673,843
Investments
14
780,128
Cash at bank and in hand
1,728,990
3,182,961
CREDITORS
Amounts falling due within one year
15
(504,176)
NET CURRENT ASSETS
2,678,785
TOTAL ASSETS LESS CURRENT LIABILITIES
8,585,876
CREDITORS
Amounts falling due after more than one year
16
(700,812)
NET ASSETS
7,885,064
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 2026
Total
funds
£
5,577,091
330,000
5,907,091
673,843
780,128
1,728,990
3,182,961
(504,176)
2,678,785
8,585,876
(700,812)
7,885,064
7,885,064
-
7,885,064		 2025
Total
funds
£
5,686,378
-
5,686,378
910,787
128
1,880,850
2,791,765
(572,888)
2,218,877
7,905,255
(727,785)
7,177,470
6,993,457
184,013
7,177,470

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28 July 2026 | 16:56 BST

............................................. Martin Quinn - Trustee

............................................. Nicholas Beverley-Hedger - Trustee

The notes form part of these financial statements

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2026

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Gift of investment property
Gift of assets held for sale
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2026
£
1,127,979
(16,021)
1,111,958
(120,110)
(330,000)
(780,000)
14,720
(1,215,390)
-
(48,428)
(48,428)
(151,860)
1,880,850
1,728,990		 2025
£
489,491
-
489,491
(766,500)
-
-
16,673
(749,827)
750,000
(25,384)
724,616
464,280
1,416,570
1,880,850

The notes form part of these financial statements

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2026

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2026 2025
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 707,594 359,698
Adjustments for:
Depreciation charges 229,397 294,196
Interest received (14,720) (16,673)
Interest paid 16,021 -
Decrease/(increase) in debtors 236,944 (176,805)
(Decrease)/increase in creditors (47,257) 29,075
Net cash provided by operations 1,127,979 489,491

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Liquid resources
Deposits included in cash
Current asset investments
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1/4/25
£
1,880,850
1,880,850
-
128
128
(45,332)
(727,785)
(773,117)
1,107,861		 Cash flow
£
(151,860)
(151,860)
-
780,000
780,000
21,455
26,973
48,428
676,568		 At 31/3/26
£
1,728,990
1,728,990
-
780,128
780,128
(23,877)
(700,812)
(724,689)
1,784,429

The notes form part of these financial statements

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Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

1. GENERAL INFORMATION

The company is a private company, limited by guarantee, incorporated in England and Wales within the United Kingdom. In the event of the company being wound up, the liability is respect of guarantee is limited to £10 per member of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Depreciation and useful economic life of properties - this requires an estimation of the useful economic lives of properties (which are based on surveyors' reports when available) and an estimate of land apportionment at each site.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Income tax recoverable is relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

continued...

Page 30

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

2. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of direct staff cost at each project.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Tangible fixed assets

The charity only capitalises major capital expenditure relating to the construction or extensive refurbishment of property and the purchase of vehicles.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.

Depreciation is provided on the following bases:

Freehold property - 2% straight line Freehold land - not depreciated Motor vehicles - 25% straight line Building improvements to leasehold properties - over the life of the lease

continued...

Page 31

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

2. ACCOUNTING POLICIES - continued

Investments

Asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments' in the Statement of Financial Activities.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Assets held for sale

Assets held for sale are shown at the lower of carrying value and fair value less costs to sell. They have been classified as current asset investments as there are plans in place for them to be sold within the next twelve months.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risk specific to the liability. The unwinding discount is recognised in the Statement of Financial Activities as a finance cost.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 32

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3. DONATIONS AND LEGACIES

Donations
Legacies
4.
INVESTMENT INCOME
Rents received
Deposit account interest		 2026
£
441,134
1,126,223
1,567,357
2026
£
43,170
14,720
57,890		 2025
£
419,925
92,438
512,363
2025
£
-
16,673
16,673

5. INCOME FROM CHARITABLE ACTIVITIES

Byron,
Manor,
Roffey and
Recovery
Skywaves
Services
£
£
Housing Benefit
2,361,729
748,549
Housing Support Services
240,650
379,336
Service Charge
104,816
41,638
Grants
250,165
44,300
Fundraising Events
-
-
Charitable Trusts
29,268
15,191
Other income
-
-
2,986,628
1,229,014
Donated
Fundraising
Goods &
events Volunteering
£
£
Housing Benefit
-
-
Housing Support Services
-
-
Service Charge
-
-
Grants
-
49,160
Fundraising Events
59,955
-
Charitable Trusts
-
-
Other income
-
-
59,955
49,160		 Move on Homelessness
Housing
Services
£
£
1,607,693
-
-
7,856
134,842
-
123,783
1,335,752
-
-
25,301
88,448
-
3,729
1,891,619
1,435,785
2026
2025
Total
Total
activities
activities
£
£
4,717,971
4,287,806
627,842
607,969
281,296
305,764
1,803,160
1,702,575
59,955
111,675
158,208
170,427
3,729
2,670
7,652,161
7,188,886

continued...

Page 33

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Grants received, included in the above, are as follows:

Other grants
6.
CHARITABLE ACTIVITIES COSTS
Support
Direct
costs (see
Costs
Note 7)
£
£
Byron, Manor, Roffey and Skywaves
2,635,682
101,796
Recovery Services
965,840
50,231
Move on Housing
1,349,005
55,883
Homelessness Services
1,510,679
115,196
Central
1,346,348
4,310
Fundraising events
157,887
29,241
Donated Goods & Volunteering
233,933
13,783
8,199,374
370,440
7.
SUPPORT COSTS
Governance
Management
costs
£
£
Byron, Manor, Roffey and Skywaves
78,582
23,214
Recovery Services
36,993
13,238
Move on Housing
39,774
16,109
Homelessness Services
88,272
26,924
Central
4,310
-
Fundraising events
16,947
12,294
Donated Goods & Volunteering
10,534
3,249
275,412
95,028		 2026
£
1,803,160
2026
Totals
£
2,737,478
1,016,071
1,404,888
1,625,875
1,350,658
187,128
247,716
8,569,814
2026
Totals
£
101,796
50,231
55,883
115,196
4,310
29,421
13,783
370,440		 2025
£
1,687,682
2025
Totals
£
2,521,666
1,112,066
870,337
1,675,204
809,308
165,891
203,752
7,358,224
2025
Totals
£
113,241
60,296
67,353
132,538
6,698
26,259
16,027
422,412

Included in governance costs is auditor's remuneration of £15,300 (2025: £15,000).

8. NET INCOME/(EXPENDITURE)

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

Depreciation - owned assets 2026
£
229,397		 2025
£
294,196

continued...

Page 34

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

10. STAFF COSTS

2026
£
Wages and salaries
4,986,658
Social security costs
610,446
Other pension costs
107,388
5,704,492
The average monthly number of employees during the year was as follows:
2026
Total
184
The number of employees whose employee benefits (excluding employer pension costs) exceeded
2026
£70,001 - £80,000
1
Remuneration and benefits received by key management personnel amounted to £158,885 (2025:		 2025
£
4,239,034
385,574
92,033
4,716,641
2025
166
£60,000 was:
2025
1
£138,158).

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2025
Additions
Disposals
At 31 March 2026
DEPRECIATION
At 1 April 2025
Charge for year
Eliminated on disposal
At 31 March 2026
NET BOOK VALUE
At 31 March 2026
At 31 March 2025		 Freehold
property
£
5,880,847
86,670
-
5,967,517
1,484,604
113,566
-
1,598,170
4,369,347
4,396,243		 Improvements
Land
to property
£
£
1,164,624
437,995
-
-
-
-
1,164,624
437,995
-
342,338
-
95,657
-
-
-
437,995
1,164,624
-
1,164,624
95,657		 Motor
vehicles
£
153,183
33,440
(11,054)
175,569
123,329
20,174
(11,054)
132,449
43,120
29,854		 Totals
£
7,636,649
120,110
(11,054)
7,745,705
1,950,271
229,397
(11,054)
2,168,614
5,577,091
5,686,378

continued...

Page 35

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

11. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land of £1,164,624 (2025 - £1,164,624) which is not depreciated.

The properties at West Hill Grinstead, being numbers 20, 22 and 24 are held at valuation at the date that the properties were transferred to the charity.

12. INVESTMENT PROPERTY

FAIR VALUE
Additions
At 31 March 2026
NET BOOK VALUE
At 31 March 2026
At 31 March 2025		 £
330,000
330,000
330,000
-

During the year ended 31 March 2026, the charity was gifted six properties as part of a legacy. Two of these properties are held as investment properties as they are occupied under tenancy agreements. They were independently valued by Coast & Country Real Estate. The fair value of these properties were estimated at £330,000.

13. DEBTORS

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Other debtors
Aggregate amounts		 2026
£
260,773
14,925
218,895
494,593
179,250
673,843		 2025
£
540,982
17,425
168,130
726,537
184,250
910,787

The lease premium held on Burgess Hill was surrendered and replaced with a management agreement giving the charity the right to manage the property for a period of of up to 40 years for a maximum of £210,000. This will be amortised within the statement of financial activities across the 40 year period.

14. CURRENT ASSET INVESTMENTS

Listed investments
Assets held for sale		 2026
£
128
780,000
780,128		 2025
£
128
-
128

The market value of listed investments at 31 March 2026 was £128 (2025: £128).

Assets held for sale represent four properties from the legacy received in the current year. These properties are not suitable for use by the charity and are currently being marketed. They have been independently valued by Coast & Country Real Estate. The fair value of these properties were estimated at £780,000.

continued...

Page 36

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 17)
Other loans (see note 17)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2026
£
-
23,877
124,487
126,102
-
229,710
504,176		 2025
£
23,916
21,416
133,377
-
22,065
372,114
572,888

Deferred income arises from grants received in the financial year that also relate to subsequent financial years. At 31 March 2026 total deferred income was £113,374 (2025: £251,590). 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other loans (see note 17)
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal		 2026
£
700,812
2026
£
-
23,877
23,877
24,359
76,067
600,386		 2025
£
727,785
2025
£
23,916
21,416
45,332
23,815
74,367
629,603

17. LOANS

The bank loan is a commercial mortgage. The commercial mortgage is secured by way of a fixed legal charge dated 22 September 2006 over the freehold property known as 14-16 Selden Road, Worthing, West Sussex, BN11 2LL. The bank loan is repayable over a 20 year term at an interest rate of 1.25% above base rate. The bank loan was repaid in full during the year ended 31 March 2026.

The other loan is a loan facility agreement with St Andrews Trust an unrelated charity. The loan is secured by way of a fixed legal charge dated 21 February 2025 over the freehold property known as 21 Victoria Road, Worthing, BN11 1XB. The loan is repayable over a 25 year term at an interest rate of 2% per annum.

continued...

Page 37

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

18. LEASING AGREEMENTS

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

Within one year
Between one and five years		 2026
£
175,310
321,206
496,516		 2025
£
180,661
90,712
271,373

19. MOVEMENT IN FUNDS

At 1/4/25
£
Unrestricted funds
General fund
6,859,005
Designated fund - West Hill, East Grinstead
21,524
Designated fund - PRS and Personalisation
Budget
7,446
Building maintenance fund
105,482
Jean Saunders Investment Reserve
Adur Furniture Network
-
-
6,993,457
Restricted funds
Adur Furniture Network
154,387
Ravenscourt
29,626
184,013
TOTAL FUNDS
7,177,470
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
The Big Lottery funding
Ravenscourt
TOTAL FUNDS		 Net
movement
in funds
£
737,220
-
-
-
-
-
737,220
-
(29,626)
(29,626)
707,594
Incoming
resources
£
9,108,044
169,364
-
169,364
9,277,408		 Transfers
between
funds
£
(975,548)
(21,524)
(7,446)
(105,482)
1,110,000
154,387
154,387
(154,387)
-
-
-
Resources
expended
£
(8,370,824)
(169,364)
(29,626)
(198,990)
**(8,569,814) **		 At 31/3/26
£
6,620,677
-
-
-
1,110,000
154,387
7,885,064
-
-
-
7,885,064
Movement
in funds
£
737,220
-
(29,626)
(29,626)
707,594

continued...

Page 38

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fund - West Hill, East Grinstead
Designated fund - PRS and Personalisation
Budget
Building maintenance fund
Restricted funds
Adur Furniture Network
Ravenscourt
TOTAL FUNDS		 Net
movement
At 1/4/24
in funds
£
£
6,575,317
389,170
21,524
-
7,446
-
-
-
6,604,287
389,170
154,387
-
59,098
(29,472)
213,485
(29,472)
6,817,772
359,698		 Transfers
between
funds
At 31/3/25
£
£
(105,482)
6,859,005
-
21,524
-
7,446
105,482
105,482
-
6,993,457
-
154,387
-
29,626
-
184,013
-
7,177,470

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

Unrestricted funds
General fund
Restricted funds
The Big Lottery funding
Ravenscourt
TOTAL FUNDS		 Incoming
resources
£
7,551,421
166,501
-
166,501
7,717,922		 Resources
Movement
expended
in funds
£
£
(7,162,251)
389,170
(166,501)
-
(29,472)
(29,472)
(195,973)
(29,472)
(7,358,224)
359,698

continued...

Page 39

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund - West Hill, East Grinstead
Designated fund - PRS and Personalisation
Budget
Jean Saunders Investment Reserve
Adur Furniture Network
Restricted funds
Adur Furniture Network
Ravenscourt
TOTAL FUNDS		 Net
movement
At 1/4/24
in funds
£
£
6,575,317
1,126,390
21,524
-
7,446
-
-
-
-
-
6,604,287
1,126,390
154,387
-
59,098
(59,098)
213,485
(59,098)
6,817,772
1,067,292		 Transfers
between
funds
At 31/3/26
£
£
(1,081,030)
6,620,677
(21,524)
-
(7,446)
-
1,110,000
154,387
1,110,000
154,387
154,387
7,885,064
(154,387)
-
-
-
-
-
-
7,885,064

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
The Big Lottery funding
Ravenscourt
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
16,659,465
(15,533,075)
1,126,390
335,865
(335,865)
-
-
(59,098)
(59,098)
335,865
(394,963)
(59,098)
16,995,330
(15,928,038)
1,067,292

Designated Funds

West Hill

Following the acquisition of the Richard Housing Association the charity has decided to designate the value of cash held and the investments at the date of transfer, together with an amount equal to the Social Housing Grant, for the use in relation to West Hill, East Grinstead.

PRS and Personalisation Budget

Funding relating to Private Rented Sector and Personalisation retained for the continuation of our work in these areas.

Building maintenance

Funding set aside for planned building projects.

Jean Saunders Investment Reserve

Legacy received from the estate of the late Jean Saunders. Six properties have been received and the proceeds received on sale will be used at the discretion of the trustees,

continued...

Page 40

Docusign Envelope ID: F8B340C1-F18E-8324-824A-7A1B7E74A922

TURNING TIDES HOMELESSNESS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2026

19. MOVEMENT IN FUNDS - continued

Adur Furniture Network

The Adur Furniture Network Fund shall be used by the charity to support low income Adur residents to sustain their independence and ensure suitable housing.

Restricted funds

The Big Lottery fund

Funding has been received for the Reaching Communities programme at St Clare's Community Hub and for the Littlehampton Community Hub.

Ravenscourt

To enable group working within the Worthing Recovery Project through the refurbishment of a group working space and the employment of a dedicated Group Worker.

20. CONTINGENT LIABILITIES

In the event of the disposal of the property at West Hill, East Grinstead, there may be a requirement to repay the value of the Social Housing Grant, being £186,000, which was awarded to the charity on purchase of the property.

West Sussex County Council provided funding under its PHE Capital Funding Scheme to assist with the purchase of certain properties. Under the terms of the grant agreements there is a potential liability to repay each of the grants if the properties are disposed of within ten years of the grant being provided. The final ten year period comes to an end on 26 April 2027.

21. RELATED PARTY DISCLOSURES

During the year ended 31 March 2026 the charity entered into a contract with BHT Sussex for the provision of homelessness pathfinder services. This organisation shares a common trustee with Turning Tides. Total income recognised on this contract amounted £15,012.

Page 41