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← St Anne's Hostel

2025-03-31-accounts

Charity registration no: 1037430 Company registration no: 02919404

St Anne's Hostel

Trustees' Report and Financial Statements

For the year ended 31 March 2025

“ADAINS

St Anne's Hostel

Charity Information

Board members Mr M Baird (Chair) (appointed 1 April 2024)
Mr S Sharma
Mr A Duggan (appointed 1 April 2024, resigned 1 October 2024)
Mrs N Owen (appointed 1 April 2024)
Mr D Saunders (appointed 1 April 2024)
Mr B Taylor (appointed 1 April 2024)
Ms I Panesar (appointed 18 March 2025)
Mrs K Stanley-Gaussen (appointed 5 June 2025)
Mrs V Hines (appointed 1 April 2024, resigned 1 October 2024)
Mr S W Morgan (Chair) (resigned 1 October 2024)
Mr J S Martin (resigned 1 October 2024)
Mr P S Higman (resigned 1 April 2024)
Ms P C Shepherd (resigned 1 October 2024)
Dr A Passmore (resigned 1 October 2024)
Ms E A Millet (resigned 1 April 2024)
Company secretary Mrs A Trappett
Charity registration number 1037430
Company registration number 02919404
Registered office 112 Moseley Street
Highgate
Birmingham
B12 0RY
Registered social landlord number H4276
Independent auditor Dains Audit Limited
2 Chamberlain Square
Paradise
Birmingham
B3 3AX

St Anne's Hostel

Contents

Page
Trustees' Report 1 - 9
Independent Auditor's Report 10 - 13
Consolidated Statement of Comprehensive Income 14
Consolidated Balance Sheet 15
Charity Balance Sheet 16
Consolidated Statement of Changes in Reserves 17
Charity Statement of Changes in Reserves 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 - 40

St Anne's Hostel

Trustees' report For the year ended 31 March 2025

The Board present their report and the financial statements for the year ended 31 March 2025.

Objectives and activities

The objectives of the charity are as follows :-

Trustees

The Trustees who served during the year were:

Mr M Baird (Chair) (appointed 1 April 2024) Mr S Sharma Mr A Duggan (appointed 1 April 2024, resigned 1 October 2024) Mrs N Owen (appointed 1 April 2024) Mr D Saunders (appointed 1 April 2024) Mr B Taylor (appointed 1 April 2024) Ms I Panesar (appointed 18 March 2025) Mrs V Hines (appointed 1 April 2024, resigned 1 October 2024) Mr S W Morgan (Chair) (resigned 1 October 2024) Mr J S Martin (resigned 1 October 2024) Mr P S Higman (resigned 1 April 2024) Ms P C Shepherd (resigned 1 October 2024) Dr A Passmore (resigned 1 October 2024) Ms E A Millet (resigned 1 April 2024)

Page 1

Trustees' report (continued) For the year ended 31 March 2025

St Anne's Hostel

Structure, Governance and Management

Constitution

St Anne’s Hostel, a company limited by guarantee, incorporated in England (with company no. 02919404) and registered with the Charity Commission (with charity no. 1037430) is the registered parent of the group. Spring Housing Association Limited (subsidiary) was incorporated on 1 October 2014 (with company no. 09244172) and registered with the Charity Commission (with charity no. 1163098). Spring Community Homes is registered under the Co-operative and Community Benefit Societies Act 2014 on 13 February 2018.

Method of appointment or election of Trustees

The management of the charity are the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The management of the subsidiary are the responsibility of its members who are elected under the society’s rules. The members of the Boards maintain a good range of skills and expertise in order to govern the group and are monitored annually by appraisal to form a skills matrix.

New trustees are appointed by placing external advertisements and through direct applications. The process requires potential Trustees to submit a CV detailing qualifications, skills and their motivation for joining. All CV’s are reviewed by existing Trustees, and individuals with appropriate skills are be invited for interview. If the applicant is considered to have skills that would enhance the operation of the Board, this is assessed against our annual review of governance where we identify where there are skill gaps. A perspective board member is invited to attend a Board meeting as an observer and if, after that, they still wish to become a Trustee they will be invited to join the Board.

Policies adopted for the induction and training of its Trustees

Each new trustee is inducted into the charity by meeting with other trustees and executive officers and being offered a shadow place on the board prior to joining.

Along with our regular board meetings we hold board away days which is an opportunity to invite consultants who have a good understanding of charity and housing governance to help guide the Trustees through the governance process.

Organisational structure and decision making

The Board of Trustees has overall responsibility for the management of the group, its strategic direction and decision making. However, day to day responsibility for running the affairs of the charity and its subsidiary is delegated to the charity’s Chief Executive, Directors and the Senior Team.

The Board of Trustees for the charity meet at least once a quarter with a separate meeting being held for the subsidiary and its members.

Each board meeting is structured to have one or two main themes linked to a corporate calendar as well as considering specific business that has arisen since the previous meeting. Main themes include the business plan and strategic direction, performance of existing contracts, setting budgets, reviewing accounts and reviewing the corporate risk register.

During the reporting period the Company Secretary was also the Group Finance Director who was paid for his capacity as Finance Director and not for his role as company secretary.

Page 2

Trustees' report (continued) For the year ended 31 March 2025

St Anne's Hostel

The group has adopted the National Housing Federation Code of Governance to ensure a high level of conduct and integrity is in place. A self-assessment is carried out by the Board annually to ensure it continues to meet the requirements of the code.

Risk Management

There is a Risk Management Plan in place which focusses on the major risks to which the charity and its subsidiary are exposed. The plan focusses on the financial risks, operational risks, governance risks and compliance risks faced by the group.

The plan sets out the effects of each of the risks facing the charity including the controls and mitigations in place to minimise the risk and is reviewed by the board on a regular basis to monitor both the likelihood and severity of each identified risk. The plan is a regular agenda item at Trustee meetings and will focus on areas where likelihood and severity are seen to have changed.

The Trustees have also adopted a Risk Management Strategy which incorporates a Strategic Risk Register to focus on specific strategic risks affecting the group and the mitigations which are in place.

Long term stock maintenance repair policy

The company's policy is to maintain its housing stock to the highest possible standards, thereby ensuring both staff and resident safety.

Each financial year a detailed plan is drawn up, which is included in the budgets, to carry out the work detailed and this is monitored by senior management to ensure all appropriate repairs are carried out.

General repairs are carried out on a day-to-day basis when needed. The company's manager is responsible for ensuring that repairs are identified and carried out when needed and the performance of contractors is constantly reviewed to ensure the company achieves value for money.

Rent policy

The company's policy is to charge rent at levels that are affordable and reflect the quality of accommodation, management and support provided. The principle of affordable rents is to encourage residents to find employment and escape from the culture of State benefits. To enable the company to achieve this, the rent levels at some of its existing and new properties which are used for move-on accommodation have been reduced or set at a lower level than those where intensive support is provided. These reduced rent levels have not affected the quality of the accommodation provided.

Reserves policy

The Board have adopted the policy of putting funds into a designated reserve and of using the designated reserve as required. The Board consider that the company has sufficient assets to meet obligations as they arise on designated and general funds.

The level of and need for the designated reserve will continue to be assessed each year.

Page 3

Trustees' report (continued) For the year ended 31 March 2025

St Anne's Hostel

Achievements and performance

St Anne's continued to invest in its facilities during the year and has successfully maintained the quality of its provision for service users at a time where funding is constrained. The company also has approved plans for the development of its site, to improve both the existing Hostel and to build additional units on its land. Work is underway to look into funding opportunities to proceed with the development of the site.

As at 1st April 2024 St Annes Hostel merged with another Charity to form a group structure. The structure is now formed with St Annes Hostel being the parent organisation and its subsidiaries to now include Spring Housing Association and Spring Community Homes.

This structure was formed with the Trustees of St Annes, Spring Housing Association and Spring Community Homes to strengthen the organisations and to enable them to reach out to a wider group of customers within Birmingham and the surrounding local areas in the West Midlands.

As a part of this new group structure there is a revised set of Aims and Mission statement adopted by all entities within the group.

Our Aims:

Mission Statement:

“To prevent homelessness by creating safe places to live, supporting strong futures by removing barriers and influencing change in the sector”

Spring Housing and its subsidiary

Historically Spring has leased all of its accommodation through a variety of local landlords and other charitable organisations. During the period the Charity was able to purchase its first property with help of the funding through the Social Investment Business. The property on Wellington Road has been managed by Spring for several years and is a 5-bedroom HMO so we have been able to secure the property for future years and been able to keep its residents in their home.

Spring continues to raise standards across Supported Exempt Accommodation, following the success of the Charter of Rights gained “Gold” accreditation with BVSC Quality Standards in 2023. This accolade was maintained in recent accreditation in April 2025.

We continue to support the Local Authority Strategies and actively provide housing solutions and pathways across the local authorities in which we work.

Spring has continued to strengthen its position in the West Midlands through the ongoing expansion of our services, particularly within the Coventry area.

Page 4

St Anne's Hostel

Trustees' report (continued) For the year ended 31 March 2025

The Birmingham Vulnerable Adults and Wellbeing contracts came to an end in December 2024 following a review and re-tender by Birmingham City Council. Out of this tender process Spring was successful in securing a new contract to continue to deliver its support to young people.

The Refugee Resettlement Service operates across four regions, providing support to families during their initial years in the UK. In additional to this we have been supporting a further 43 families as part of this service through the Find Your own Accommodation scheme most of which will continue to be supported through our main resettlement contract in April 2025.

The refugee support contract for those fleeing the conflict in Ukraine came to an end in February 2025 where over the 18-month contract we supported families and individuals to find a permanent place to live in the Birmingham area and provided housing advice and support to individuals and families in Solihull.

Spring has been partnering with Birmingham City Council to seek and repurpose accommodation for those families who remain in temporary accommodation. This project will aim to provide 35 units of accommodation across the city with 14 units of dispersed family accommodation and has nearly completed the refurbishment of a former conference centre in Bournville to provide the other 21 units.

The Fred Winter Centre, a multi-agency hub, has been fully operational since June 2022 and stands as a flagship service for Spring and all involved partners. It continues to play a significant strategic role in Stratford, aiming to reduce homelessness and support individuals affected by or at risk of homelessness. The Fred Winter Centre remains a focal point due to its innovative approach, drawing interest from visitors across the UK.

Our drive continues to be supporting families out of bed and breakfasts/hotels into more settled accommodation and reducing the pressure on local authorities of temporary accommodation. During the period we have secured a new contract to continue to deliver quality housing and support services in Stratford upon Avon to 42 families, formerly living in B & B/Hotels into temporary accommodation across the district.

We have continued to support and find accommodation for those sleeping on the streets in both Lichfield and Cannock through the period and have manged to place a number of customers in long term secure accommodation.

Radford Road continues to provide essential services to reduce rough sleeping across Coventry, Working in partnership with Coventry Rought Sleepers Outreach Team (RSOT) Radford Road provides first step accommodation to many individuals who have experienced rough sleeping in the city.

The Perry Barr NNS (Neighbourhood Network Scheme) continues to provide support to young people under 50 with disabilities and Older Adults funded by Birmingham Adult Social Care with a primary goal to work with community assets to enhance the wellbeing of communities through upskilling. Community Champions/Groups were recognised and applauded for the difference they make in their communities at an Awards Event held in March.

IMPACT Networks are one of IMPACT’s delivery models. The aims of IMPACT Networks are to:

  1. To improve practice and outcomes in adult social care at the local level and solve common, yet complex, challenges

  2. To collate practical solutions at the community level to create scalable solutions that inspire and inform change across the UK.

In 2024 Perry Barr NNS successfully applied for and were granted IMPACT Host Site status - Network Strand – using technology to promote independence / greater prevention.

Page 5

St Anne's Hostel

Trustees' report (continued) For the year ended 31 March 2025

We are still very much committed to reducing and supporting women experiencing homelessness. Funded via Public Health, an intensive review of period poverty within the Homeless sector has resulted in Spring developing a Period Poverty Toolkit. Period poverty is defined as a lack of access to menstrual products, hygiene facilities, waste management, and education.

Spring has worked with DWP, the West Midlands Combined Authority (WMCA), and other support providers to explore opportunities to assist young people residing in supported housing to transition into work. Rent Simplification and Support - Proof of Concept (PoC) a shared commitment between WMCA and the DWP, to provide streamlined financial assistance to young people living in commissioned supported housing who move into work or increase their working hours. Spring is evaluating the project and lessons learned.

Spring has adopted the Commitment to Collaborate (C2C) to Prevent and Relieve Homelessness Toolkit developed by the WMCA Homelessness Taskforce in partnership with Birmingham Voluntary Service Council (BVSC) to support organisations and partnerships across the region to prevent and relieve homelessness

Page 6

St Anne's Hostel

Trustees' report (continued) For the year ended 31 March 2025

Assessment of how the RP is achieving value for money

The Board recognisies the importance of running the charity in a business-like wat in order to maximise the resources available to invest in the services provided to residents who are at the centre of all that we do.

We seek to do this by working together with like-minded suppliers and contractors. They help us deliver services in a more cost-effective and efficient way by working collaboratively to offer joined up solutions which are more innovative and better targeted. By working together and sharing skills and experience, we can seek to achieve more. We constantly review our services and operations to ensure we achieve greater efficiencies and deliver value to our residents.

St Anne's Hostel has prepared the groundwork to report against an agreed set of measured for Value for Money, that were required by the Regulator for Social Housing (RSH). St Anne's Hostel can offer the following information for VFM metrics for the year ended March 2025:

2024/25 2023/24
1 Reinvestment % 1.7% Fire doors, CCTV & replacement
furnishings.		 16.5%
(Fixed Asset Additions as a percentage of
total fixed assets at the end of the period)
2a New Supply (Social Housing Units) % Nil No new social housing units
delivered inyear.		 Nil
(Social units developed, acquired or leased
in-year as a percentage of Total social
units at the end of theperiod)
2b New Supply (Non-Social HousingUnits)
%		 Nil No new social housing units
delivered inyear.		 Nil
(Non-Social units developed, acquired or
leased in-year as a percentage of Total
social and non-social units at the end of
theperiod)
3 Gearing % 0.7% Reduced due to loan repayments
and cash surplus
3.6%
Short- and long-term loans and lease
obligations less cash and cash equivalents
as a percentage of tangible fixed assets.
4 EBITDA MRI Interest Cover % 1,466.0% Positive EBITDA -420.9%
EDITDA as a percentage of interest
payable and financing costs.
5 Headline Social Housing Cost £ N/A Management cost for social
housing and hostel
accommodation are not
separatelyidentified.		 N/A
6a Operating Margin (social housing
lettings) %		 N/A Surplus attributable to social
housing not separately identified.		 N/A
6b Operating Margin (overall) % 15.5% Improvement in operating surplus 12.0%
7 Return on Capital Employed % 9.5% Improvement in operating surplus 7.2%

Page 7

St Anne's Hostel

Trustees' report (continued) For the year ended 31 March 2025

Financial review

Following on from the formation of the group structure with Spring Housing and Spring Community Homes, the financial statements for St Annes Hostel now include its subsidiaries so have significantly increased in comparison to previous periods.

The overall turnover for the group for the period to 31 March 2025 was £15.2m with rent and service charge being the most significant area of income. Support income and Grant income make up the rest of the income for the group.

Operating costs for the period were £14.9m which is made up of lease costs to provide the housing stock, staffing costs to support and maintain the customers, associated housing costs and overheads.

This left an operating surplus of £356k for the period. Following on from the merger with Spring Housing Association and Spring Community Homes resulted in negative goodwill of £3.4m and after interest costs results in a group surplus of £3.7m for the period.

Plans for future periods

We have been working with a large Housing provider in Birmingham to take over management of some of their Supported Housing stock which will increase the amount of self contained units we have in Birmingham and Coventry. There are several units in the pipeline in which we plan to take on over the next 12 months and will continue to seek opportunities to replace some of the less favoured shared accommodation in our portfolio.

Making sure the work we do and the accommodation we provide is always aligned to the needs and requirements of our customers is vital and we will continue to align our mission and goals to meet the needs of our customers.

As some of our contracts meet their natural end we are also looking at opportunities in Birmingham and the surrounding areas to replace these so that we can diversify our funding mix and be less reliant on rent and service charge income going forward.

We also aim to increase our reserves levels which was largely used in order to fund the Fred Winter Centre refurbishment so we will be looking to rebuild these levels over the next couple of years in line with our reserves policy.

Spring purchased its first property during the period and we plan to increase the level units it owns outright going forward.

Trustees' responsibilities statement

The Trustees are responsible for preparing the Trustees' report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and the Group and of the profit or loss of the Group for that period.

Page 8

St Anne's Hostel

Trustees' report (continued) For the year ended 31 March 2025

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and the Group 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 Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditor

The auditor, Dains Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

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_________
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Mr M Baird

Chairperson

Date: 15 September 2025

Page 9

St Anne's Hostel

Independent Auditor's Report to the Members of St Anne's Hostel

Opinion

We have audited the financial statements of St Anne's Hostel (the 'parent Charity') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in reserves, the Charity statement of changes in reserves and the related notes, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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 concern are described in the relevant sections of this report.

Page 10

St Anne's Hostel

Independent Auditor's Report to the Members of St Anne's Hostel (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial 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. 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 course of 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.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the parent Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

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

Responsibilities of directors

As explained more fully in the Trustees' responsibilities statement set out on page 8, 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 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 Group's and the parent Charity'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 Group or the parent Charity or to cease operations, or have no realistic alternative but to do so.

Page 11

St Anne's Hostel

Independent Auditor's Report to the Members of St Anne's Hostel (continued)

Auditor's 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 an Auditor's report 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 Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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:

Page 12

St Anne's Hostel

Independent Auditor's Report to the Members of St Anne's Hostel (continued)

To address the risk of fraud through management bias and override of controls, we:

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

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 Auditor's report.

Use of our report

This report is made solely to the Charity'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 Charity's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Morris (FCA) (Senior Statutory Auditor)

for and on behalf of

Dains Audit Limited

Statutory Auditor Chartered Accountants

Birmingham

15 September 2025

Page 13

St Anne's Hostel

Consolidated statement of comprehensive income For the year ended 31 March 2025

2025 2024
Note £ £
Turnover 4 15,277,349 1,035,360
Operating costs 4 (14,920,993) (910,795)
Operating surplus 7 356,356 124,565
Amortisation of negative goodwill 12 3,432,376 -
Interest and financing costs 8 (68,443) (17,465)
Surplus for the year 3,720,289 107,100

There was no other comprehensive income for 2025 (2024:£NIL).

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

Mr M Baird Mr S Sharma Chairperson Treasurer

The notes on pages 20 to 40 form part of these financial statements.

Page 14

St Anne's Hostel Registered number:02919404

Consolidated balance sheet As at 31 March 2025

2025 2024
Note £ £
Fixed assets
Housing properties 10 1,579,600 1,628,394
Tangible assets 11 3,136,524 140,998
Intangible assets 12 - -
4,716,124 1,769,392
Current assets
Debtors: amounts falling due within one year 13 1,817,886 25,100
Cash at bank and in hand 14 911,173 139,778
2,729,059 164,878
Creditors: amounts falling due within one year 15 (1,753,459) (211,694)
Net current assets/(liabilities) 975,600 (46,816)
Total assets less current liabilities 5,691,724 1,722,576
Creditors: amounts falling due after more than
one year 16 (1,044,929) (796,070)
Net assets 4,646,795 926,506
Capital and reserves
Restricted reserves 18 959,903 702,441
Designated reserves 14,044 14,044
General unrestricted reserves 3,672,848 210,021
4,646,795 926,506

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

_____ _______ Mr M Baird Mr S Sharma Chairperson Treasurer

The notes on pages 20 to 40 form part of these financial statements.

Page 15

St Anne's Hostel Registered number:02919404

Charity balance sheet As at 31 March 2025

2025 2024
Note £ £
Fixed assets
Housing properties 10 1,579,600 1,628,394
Tangible assets 11 132,319 140,998
1,711,919 1,769,392
Current assets
Debtors: amounts falling due within one year 13 59,868 25,100
Cash at bank and in hand 14 366,610 139,778
426,478 164,878
Creditors: amounts falling due within one year 15 (295,858) (211,694)
Net current assets/(liabilities) 130,620 (46,816)
Total assets less current liabilities 1,842,539 1,722,576
Creditors: amounts falling due after more than
one year 16 (757,505) (796,070)
Net assets 1,085,034 926,506
Reserves
Restricted reserves 18 613,635 702,441
Designated reserves 14,044 14,044
General unrestricted reserves 457,355 210,021
1,085,034 926,506

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

_____ _______ Mr M Baird Mr S Sharma Trustee Trustee

The notes on pages 20 to 40 form part of these financial statements.

Page 16

St Anne's Hostel

Consolidated statement of changes in reserves For the year ended 31 March 2025

At 1 April 2023
Comprehensive income for the year
Deficit for the year
Movement on restricted funds
At 1 April 2024
Comprehensive income for the year
Surplus for the year
Movement on restricted funds
At 31 March 2025		 Restricted
reserves
£
648,550
-
53,891
702,441
-
257,462
959,903		 Designated
reserves
£
14,044
-
-
14,044
-
-
14,044		 General
unrestricted
reserves
£
156,812
107,100
(53,891)
210,021
3,720,289
(257,462)
3,672,848		 Total
reserves
£
819,406
107,100
-
926,506
3,720,289
-
4,646,795

The notes on pages 20 to 40 form part of these financial statements.

Page 17

St Anne's Hostel

Charity statement of changes in equity For the year ended 31 March 2025

At 1 April 2023
Comprehensive income for the year
Surplus for the year
Movement on restricted funds
At 1 April 2024
Comprehensive income for the year
Surplus for the year
Movement on restricted funds
At 31 March 2025		 Restricted
reserves
£
648,550
-
53,891
702,441
-
(88,806)
613,635		 Designated
reserves
£
14,044
-
-
14,044
-
-
14,044		 General
unrestricted
reserves
£
156,812
107,100
(53,891)
210,021
158,528
88,806
457,355		 Total
reserves
£
819,406
107,100
-
926,506
158,528
-
1,085,034

The notes on pages 20 to 40 form part of these financial statements.

Page 18

St Anne's Hostel

Consolidated statement of cash flows For the year ended 31 March 2025

Cash flows from operating activities
Surplus for the financial year
Adjustments for:
Depreciation of tangible assets
Interest paid
Decrease in debtors
(Decrease)/increase in creditors
Amortisation of negative goodwill
Net cash generated from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets - housing properties
Purchase of other tangible fixed assets
Charity combination
Net cash from investing activities
Cash flows from financing activities
Repayment of loans
New loans
Repayment of finance leases
Interest paid
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at the end of year
Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand
The notes on pages 20 to 40 form part of these financial statements.		 2025
£
3,720,289
399,409
68,443
37,748
(261,216)
(3,432,376)
532,297
(10,616)
(676,202)
1,176,276
489,458
(134,123)
147,290
(195,084)
(68,443)
(250,360)
771,395
139,778
911,173
911,173		 2024
£
107,100
97,424
17,465
22,745
62,438
-
307,172
(225,706)
(67,114)
-
(292,820)
(18,591)
-
-
(17,465)
(36,056)
(21,704)
161,482
139,778
139,778

Page 19

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

1. General information

St Anne's Hostel is a private company limited by guarantee and incorporated in England and Wales. It is a Registered Provider of Social Housing with the Regulator of Social Housing and a Registered Charity with the Charity Commission in England & Wales.

The Charity's registered office address and registered numbers are set out on the Charity Information page. The Charity's principal activity is the the relief and rehabilitation of persons in necessitous circumstances in the City of Birmingham and in particular by the provision of accommodation and associated facilities upon terms appropriate to their means calculated to alleviate their need.

The principal object its subsidiary is to carry on, for the benefit of the community, the business of providing, directly or indirectly, and managing housing and accomodation, and any associated facilities, amenities and services for persons in necessitous circumstances and aged, disabled (whether physically or mentally) or chronically sick people upon terms appropriate to their means; and any other charitable object that can be carried out from time to time by a registered society.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, the Charities SORP (FRS 102), the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for Private Registered Providers of Social Housing 2022. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008.

The financial statements are presented in the functional currency of GBP (Sterling). They are prepared to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

Page 20

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.2 Basis of consolidation

The consolidated financial statements present the results of the Charity and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3 Going concern

The Board have reviewed the cash position and forecasts and believe they have sufficient reserves to continue trading for the foreseeable future. For this reason they continue to adopt the going concern basis of accounting in preparing these financial statements.

2.4 Charity status

The Charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

2.5 Turnover

Turnover represents rental and service charges income receivable in the year net of rent and service charge losses from voids.

Rental income is recognised from the point when properties under development reach practical completion or otherwise become available for letting, net of any voids. Service charge income is recognised when service charge expenditure is incurred as this is the point at which the services have been performed.

Cash donations are recognised upon receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

2.6 Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 21

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.7 Taxation

The Charity is considered to pass the tests set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Accordingly the Charity is exempt from taxation in resepct of income or capital gains received within categories covered by Part 11, Chaper 2 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Housing properties

Housing properties are properties held for the provision of social housing or to otherwise provide social benefit. Housing properties are principally properties available for rent and are stated at cost less accumulated depreciation and impairment losses. Cost includes the cost of acquiring land and buildings, development costs, interest charges incurred during the development period.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Charity separately identifies the major components to its housing properties and charges depreciation so as to write-down the cost of each component to its estimated residual value, on a straight line basis over the following years:

Freehold property - fabric - 40
Long-term leasehold property - 50
Leasehold improvements - 30
Flat roof - 30
Windows - 20
Kitchens - 15
Bathrooms - 15

Works to existing properties which replace a component that has been treated separately for depreciation purposes, along with those works that enhance the economic benefits of the assets, are capitalised as improvements. Such enhancements can occur if improvements result in either:

Page 22

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.9 Other tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following bases:

Freehold property - 50 years
Long-term leasehold property including Fred Winter Centre - over the life of the lease
Furniture - 5 - 10 years
Equipment - 5 - 15 years
Boilers - 15 years
Motor vehicles - 5 years
Computer & office eqipment - 3 - 5 years
Fire alarms - 25 years
Washing machines and equipment - 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the Statement of comprehensive income.

2.10 Government grants

Government grants include grants receivable from Homes England, local authorities, and other government organisations. Government grants received for housing properties are recognised in income over the useful life of the housing property structure and, where applicable, its individual components (excluding land) under the accruals model.

Grants relating to revenue are recognised in income and expenditure over the same period as the expenditure to which they relate once reasonable assurance has been gained that the entity will comply with the conditions and that the funds will be received.

Grants due from government organisations or received in advance are included as current assets or liabilities.

Government grants received for housing properties are subordinated to the repayment of loans by agreement with Homes England. Government grants released on sale of a property may be repayable but are normally available to be recycled and are credited to a Recycled Capital Grant Fund and included in the statement of financial position in creditors.

If there is no requirement to recycle or repay the grant on disposal of the asset, any unamortised grant remaining within creditors is released and recognised as income in income and expenditure.

Where individual components are disposed of and this does not create a relevant event for recycling purposes, any grant which has been allocated to the component is released to income and expenditure.

Page 23

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.11 Other grants

Grants received from non-government sources are recognised using the performance model. A grant which does not impose specified future performance conditions is recognised as revenue when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions on the association is recognised only when these conditions are met. A grant received before the revenue recognition criteria are satisfied is recognised as deferred income.

2.12 Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.13 Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.14 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.15 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.16 Provisions

Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in the income and expenditure account in the period it arises.

Page 24

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.17 Operating leases: the Group as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straightline basis over the lease term.

2.18 Reserves

The charity establishes restricted reserves for specific purposes where their use is subject to external restrictions.

3. Judgements in applying accounting policies and key sources of estimation uncertainty

The process of preparing financial statements requires the use of accounting estimates, assumptions and judgements by the Association regarding the future that may have a significant risk of giving rise to a material adjustment to the carrying values of assets and liabilities.

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

Useful lives of depreciable assets

Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets including any components. Residual value and useful life assessments consider issues such as future market conditions, the remaining life of the asset and maintenance programmes. Uncertainties in these estimates relate to technological obsolescence that may change the utility of certain software and IT equipment, changes to the Decent Homes Standards and changes to energy efficiency requirements which may require more frequent replacement of key components.

Impairment

Management assesses the impairment of property, plant and equipment subject to depreciation whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important that may trigger an impairment review include the following: significant underperformance relative to historical or projected future operating results; changes in the manner of the use of the acquired assets or the strategy for the overall business; and significant adverse industry or economic trends.

As part of the Association's continuous review of the performance of their assets, management identify any impairment triggers which may affect housing properties. Such triggers include increasing void losses, government policy changes (such as welfare reform changes or rent reductions), any significant damage or repairs are required to any homes, failure to meet energy efficiency standards, or where the decision has been made to dispose of the properties. These factors are considered to be an indication of impairment.

Page 25

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

3. Judgements in applying accounting policies (continued)

Bad and doubtful debts

Management is required to exercise significant judgement in estimating the bad and doubtful debt provision, which takes into account the ageing of debt and management's assessment of the likelihood of recovery.

Actual results may differ from those estimated. The estimates underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

4. Particulars of turnover, operating expenditure and operating surplus/(deficit)

Social housing
activity
Social housing
lettings (note 5)
Other social
housing
activities
Capital grants
Activities other
than social
housing
Housing provision
& associated
services		 Turnover
2025
£
1,124,453
-
14,152,896
15,277,349		 Operating
costs
2025
£
(901,717)
(48,227)
(13,971,049)
(14,920,993)		 Operating
surplus
2025
£
222,736
(48,227)
181,847
356,356		 Turnover
2024
£
848,054
187,306
-
1,035,360		 Operating
costs
2024
£
(862,568)
(48,227)
-
(910,795)		 Operating
surplus
2024
£
(14,514)
139,079
-
124,565

Page 26

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

5. Particulars of income and expenditure from social housing lettings

Turnover
Rents receivable net of identifiable service charges
Service charge income
Void losses
Amortised government grants
Other grants and donations
Turnover from social housing lettings
Operating expenditure
Management
Service charge costs
Routine maintenance
Planned maintenance
Bad debts
Depreciation
Other costs
Operating expenditure on social housing lettings
Operating surplus/(deficit) on social housing lettings
6.
Accommodation in management and development
Social housing
Supported housing		 Supported
housing
2025
£
577,211
435,228
(23,336)
16,573
118,777
1,124,453
(663,879)
(131,699)
(30,643)
(7,505)
(27,787)
(38,731)
(1,473)
(901,717)
222,736
2025
£
51		 Supported
housing
2024
£
668,979
73,660
(27,876)
16,573
116,718
848,054
(616,545)
(121,302)
(29,116)
(18,761)
(20,568)
(49,197)
(7,079)
(862,568)
(14,514)
2024
£
51

Page 27

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

7. Operating surplus/(deficit)

The operating surplus/(deficit) is stated after charging:

Depreciation of housing properties
Depreciation of other tangible fixed assets
Amortisation of government grants
Auditor's remuneration
Interest payable and similar expenses
Bank loan interest payable
Other loan interest payable		 2025
£
59,410
491,250
(16,573)
12,900
2025
£
15,981
52,462
68,443		 2024
£
79,689
17,735
(16,573)
12,000
2024
£
17,465
-
17,465

8. Interest payable and similar expenses

Page 28

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

9. Employees

Staff costs were as follows:

Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Wages and salaries 3,997,679 510,505 450,844 510,505
Social security costs 395,996 35,750 39,767 35,750
Pension costs 108,741 16,269 14,238 16,269
4,502,416 562,524 504,849 562,524
The average monthly number of employees, including the Trustees, during the year was as follows:
Group Group Charity Charity
2025 2024 2025 2024
No. No. No. No.
Housing and support 113 19 20 19
Management and Admin 26 2 2 2
Maintenance 13 - - -
152 21 22 21

There were three employees of the Group who received annual remuneration greater than £60,000 but not more than £70,000 (2024 - none).

The key management personnel of the Charity is limited to the members of the Board who did not receive any remuneration or reimbursement of expenses (2024 - £Nil).

The total compensation received by the key management of the Group during the period, including employer pension costs, was £68,821.

Page 29

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

10.
Tangible fixed assets - housing properties
Group and Charity
Cost
At 1 April 2024
Additions
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Expenditure on works to existing properties
Improvement works capitalised
Components capitalised
Amounts charged to income and expenditure		 2025
£
10,616
-
27,621
38,237		 Supported
housing
£
1,943,051
10,616
1,953,667
314,657
59,410
374,067
1,579,600
1,628,394
2024
£
128,782
96,924
47,877
273,583

Page 30

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

11. Tangible fixed assets

Group

Cost
At 1 April 2024
Additions
Charity combination
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Charity combination
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Finance leases		 Freehold
property
£
-
190,000
-
190,000
-
1,279
-
1,279
188,721
-		 Long-term
leasehold
property
£
-
270,203
253,392
523,595
-
26,879
77,847
104,726
418,869
-		 Fred
Winter
Centre
£
-
22,035
2,517,675
2,539,710
-
169,086
386,507
555,593
1,984,117
-		 Motor
vehicles
£
-
-
140,011
140,011
-
22,945
67,297
90,242
49,769
-		 Fixtures
and
fittings
£
344,450
193,102
312,724
850,276
203,452
77,974
166,888
448,314
401,962
140,998		 Computer
and office
equipment
£
-
29,862
318,328
348,190
-
41,833
213,271
255,104
93,086
-		 Total
£
344,450
705,202
3,542,130
4,591,782
203,452
339,996
911,810
1,455,258
3,136,524
140,998

The net book value of assets held under finance leases was £454,100 (2024 - £Nil).

Page 31

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

11.
Tangible fixed assets (continued)
Charity
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Fixtures and
fittings
£
344,450
18,869
363,319
203,452
27,548
231,000
132,319
140,998

Page 32

St Anne's Hostel

Notes to the financial statements

For the year ended 31 March 2025

12.
Intangible assets
Group
Cost
Additions
At 31 March 2025
Amortisation
Charge for the period
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Negative
goodwill
£
(3,432,376)
(3,432,376)
(3,432,376)
(3,432,376)
-
-

The negative goodwill arose following the charity combination described in note 23.

Page 33

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

13. Debtors

Rent & service charges receivable
Trade debtors
Other debtors
Prepayments and accrued income		 Group
2025
£
1,126,139
275,498
80,523
335,726
1,817,886		 Group
2024
£
-
-
13,281
11,819
25,100		 Charity
2025
£
45,979
-
-
13,889
59,868		 Charity
2024
£
-
-
13,281
11,819
25,100
14.
Cash and cash equivalents
Cash at bank and in hand
15.
Creditors: Amounts falling due within one year		 Group
2025
£
911,173		 Group
2024
£
139,778		 Charity
2025
£
366,610		 Charity
2024
£
139,778
Bank loans
Other loans
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Obligations under finance lease and hire
purchase contracts
Other creditors
Accruals and deferred income
Deferred capital grants (note 17)		 Group
2025
£
22,373
82,007
315,104
-
69,105
171,376
33,043
1,043,878
16,573
1,753,459		 Group
2024
£
20,211
-
4,811
-
9,956
-
131,262
28,881
16,573
211,694		 Charity
2025
£
22,373
-
11,269
194,982
8,926
-
7,202
34,533
16,573
295,858		 Charity
2024
£
20,211
-
4,811
-
9,956
-
131,262
28,881
16,573
211,694

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. The consolidated group balance represents amounts owed by the parent entity which is not included in this consolidation.

Page 34

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

16. Creditors: Amounts falling due after more than one year

Bank loans
Other loans
Net obligations under finance leases and hire
purchase contracts
Deferred capital grants (note 17)		 Group
2025
£
160,880
193,679
93,745
596,625
1,044,929		 Group
2024
£
182,872
-
-
613,198
796,070		 Charity
2025
£
160,880
-
-
596,625
757,505		 Charity
2024
£
182,872
-
-
613,198
796,070

The bank loan is secured through a fixed charge over the freehold property of the Charity and is repayable over 10 years at rates of interest of 3.75% above base rate.

Other loans includes an unsecured £250,000 Social Investment Business loan, being repaid over 5 years to December 2026, with a fixed interest rate of 7.9%.

Also included in other loans is an unsecured £185,000 loan from Stratford-on-Avon District Council repayable over 30 months at a fixed interest rate of 2.0%.

Also included in other loans is a £147,290 Social Investment Business Recovery loan, being repaid over 6 years to August 2030, with a fixed interest rate of 7.9%. The loan is secured by a standard fixed and floating charge over the relevant property.

Net obligations under finance leases and hire purchase contracts are secured on the related assets.

Page 35

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

17. Deferred capital grants

Group and Charity
As at 1 April
Released in the year
As at 31 March
For release in less than one year
For release in more than one year		 2025
£
629,771
(16,573)
613,198
16,573
596,625
613,198		 2024
£
646,344
(16,573)
629,771
16,573
613,198
629,771

Deferred capital grants represents a Homes England grant vested in the Charity's freehold property being amortised over 40 years.

Page 36

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

18. Restricted reserves

1 April 31 March
2024 Movement 2025
£ £ £
Restricted reseves
Support staff salaries 36,485 (36,485) -
Pet support 1,425 (12) 1,413
Window restoration 100 - 100
Park View 4,318 (1,919) 2,399
Move on residents 1,250 - 1,250
Arts & crafts 2,480 (2,163) 317
Capital grants 656,383 (48,227) 608,156
Charity 702,441 (88,806) 613,635
Children In Need Grant (41) (41)
BCC - Period Literacy 25,000 25,000
Police Crime Commissioner 1,605 1,605
BCC NNS 42,222 42,222
BCC Misc (134) (134)
Reaching Communities - FWC 20,134 20,134
Stratford Town Trust 10,255 10,255
Midlands Together (Hestia House) 38,097 38,097
The Clothworker Foundation 18,380 18,380
BCC PRS Leasing - The Beeches 190,750 190,750
Group 702,441 257,462 959,903

Page 37

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

Purpose of reserves

Charity

Support staff salaries - represents grant funding towards specific staff salaries.

Capital grants - represents grants received from non-government sources towards the purchase of fixed assets.

Other restricted funds are restricted to specific purposes specified by the donors.

Group

Children in Need Grant (YPS) - This fund is being used to deliver our Life-Hacks project within our young people services. This project offers a range of activities to our young people and provides equipment and support throughout the 3-year project.

Birmingham City Council - Period Literacy - To create a toolkit and provide training to the homeless sector around period literacy.

Police Crime Commissioner - To fund activities for the community and a session worker provided at the Fred Winter Centre.

Birmingham City Council – Network Neighborhood Scheme (NNS) - To research and provide support to both individuals and communities in the Perry Barr area to promote living healthy independent lives.

Reaching Communities – Fred Winter Centre (FWC) - To support those in the local community who are at risk of homelessness by providing advice, support and group activities for those residing in or around the Fred Winter Centre.

Midlands Together (Hestia House) - This funding was a capital contribution towards the works required to renovate the ground floor at Hestia House into an office space and community hub.

The Clothworkers Foundation - These funds were used towards the capital refurbishment project at Hestia House to create a community and ICT Hub.

BCC PRS Leasing - The Beeches - Capital element of grant funding utilised on the new Beeches development creating 21 units for council nominated tenants.

Page 38

St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

19. Analysis of net debt

Cash at bank and in hand
Debt due after 1 year
Debt due within 1 year
Finance leases		 At 1 April
2024
£
139,778
(182,872)
(20,211)
-
(63,305)		 Charity
combination
£
1,176,276
(114,652)
(128,037)
(431,205)
502,382		 New finance
leases
£
-
-
-
(29,000)
(29,000)		 Cash flows
£
(404,881)
(57,035)
43,868
195,084
(222,964)		 At 31 March
2025
£
911,173
(354,559)
(104,380)
(265,121)
187,113

20. Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £108,741 (2024 - £16,269). Contributions of £11,497 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

21. Commitments under operating leases

At 31 March 2025 the Group and the Charity had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 Group
2025
£
898,419
1,502,207
1,850,740
4,251,366		 Group
2024
£
-
-
-
-

22. Related party transactions

During the period, repairs costs and professional fees were recharged to the Charity by its subsidiary, Spring Housing Association Limited. At the balance sheet date, £194,982 was owing to Spring Housing Association Limited in respect of these recharges.

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St Anne's Hostel

Notes to the financial statements For the year ended 31 March 2025

23. Charity combination

As from 1 April 2024 it was agreed that St Anne's Hostel would join a strategic partnership with Spring Housing Association Limited (registered charity number: 1163098) to form a group structure between the organisations. This structure sees St Anne's Hostel becoming the parent organisation with Spring Housing Association Limited and Spring Community Homes becoming its direct and indirect subsidiaries respectively.

The organisations have similar values and objectives and this partnership aims to further meet the joint mission to provide long term sustainable accommodation to those in housing need. This partnership will further strengthen the roles of the organisations within the sector to be able to support an increased number of customers and provide financial stability for the future.

The combination has been accounted for as an acquisition with the negative goodwill arising being written on immediately in the reporting period through the Consolidated Statement of Comprehensive Income. Since the consideration payable by St Anne's Hostel was £Nil, the negative goodwill arising was equal to the net assets of Spring Housing Association Limited on the date the group was legally formed:

Spring Housing Association Limited
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Creditors: amounts falling due after more than
one year		 1 April 2024
£
2,630,320
1,830,534
1,176,276
(1,815,146)
(389,608)
3,432,376

No fair value adjustments were deemed necessary.

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