2024-03-31-accounts

Annual General Meeting

A p r i l 2 0 2 3 - M a r c h 2 0 2 4

----- Start of picture text -----
Contents
. : a -
en
01 Mf y | 02
re_+ . ‘ <a
Audited
Agenda & Overview &
Accounts
Minutes Statistics
----- End of picture text -----*

Page 1.1 Ci)

Agenda

Present Apologies Minutes of Last AGM Annual Re ort & p Statistics Audited Accounts Election of Directors Any Other Business

Page 1.2 —

Minutes of Last AGM

1. Present:

3. Minutes of last AGM:

Dave Brazier – Committee Chairperson Vicki Stephenson – Director Piyush Kotecha – Committee Treasurer Towana Graham – Director Kash Bhayani – Committee Secretary Ervin Picari -Director Naila Siddiqui Walker – Project Manager

2. Apologies:

N/A

Kash Bhayani chaired until Dave attended the meeting.

Correction: Page 2 ‘; flood should read ‘blood’. The minutes of the last AGM held on 18th January 2023 were agreed.

4. Matters Arising:

Vicki suggested there is an active drive to invite new committee members to join the board. Having professionals and a younger group would be good for the project. Kash said he would discuss this with some people he knows. Matter to be placed on the agenda for a committee meeting. Naila will send DBS invites to those who haven’t completed theirs last year. Discussion on how long this was valid, but no decision was made.

Page 1.3 —

Minutes of Last AGM

5. Annual Report & Statistics

Naila briefly went through the items in the report. It was noted that we mainly accommodate 17/18-year-olds.

Naila will correct a few mistakes on the report before it is distributed (the word ‘hard’ and the section on Dhillon Security).

Generally, a good year for the project. Need to evaluate if the recent developments have benefited the project, it appears to be positive.

Towana felt an ‘Empowerment’ handbook on support services should be available to our clients. Naila explained that there was one, but it was too out of date to give to clients. Vicki updated the others on recruitment progress. Naila will ask Lee Keeling, from the local authority, to send the invite asking for people to send a C.V. if they wish to be considered for the two positions available.

Ervin said he could advertise it on his LinkedIn page. It was decided Hits should have one too and Naila was to create one.

7. Election of Directors: Election of Directors held.

Vicki Stephenson proposed the existing directors with positions to be re-elected on block, seconded by Towana Graham and Ervin Picari.

Dave proposed that Vicki Stephenson, Tawana Graham and Ervin Picari be elected as directors, seconded by Piyush Kotecha.

6. Audited Accounts:

8. Any Other Business: None

Piyush reported on the accounts. He was surprised that the income had only gone up by £1,000. Maybe there had been excessive voids that year. Also, there was a lot of unexpected expenditure, such as Charity Bank costs for purchase, maintenance, and salaries. Despite this, a surplus of £14,000 was a lot more than in the previous two years. We have £220,000 in the reserves, which is good. It may be worth having a discussion on purchasing 82/84 and whether it is beneficial considering the level of additional responsibility. Vicki asked if the Charity Commission would question these levels of reserve, Dave and Piyush did not feel they would.

It is difficult to do fundraising with this level of money in the reserves. Dave congratulated all those who worked towards this success.

Page 2.1 —

Annual Report

Overview This year saw the project continuing to provide essential housing for vulnerable people aged 16 to 25. The statistics show a slight fall in people looking for accommodation which sounds like good news but looking at it in more depth, it seems that other factors are at play. Young people have been more reluctant to leave home thereby refusing offers of accommodation at Hits due to the fear of debt as they cannot meet the cost of housing on their income. Leicester College has confirmed our experience that there are fewer young people asking for supported housing even though they are facing difficulties at home. This year has seen an increase in demand for housing from older people aged 22-25, which includes university students who have had to leave student accommodation because they can’t find or afford private accommodation. Also, the local authority doesn’t assess them as ‘in housing need’ according to the homelessness regulations. Students are now facing increased pressure from their universities to gain employment otherwise their benefits may cease, but in addition to this, they have experience managing their own accommodation and would need little support from Hits. They will continue to face the same issues once their stay at the project expires. Additionally, now that the government is processing more asylum cases, non-British citizens are also being asked to leave NASS accommodation and facing the same issues as the university students.

Page 2.2 —

Annual Report

Housing

Bed blocking is a dilemma for many support providers. We find that those clients at Hits are not getting offers of accommodation within the two-year accommodation period that Hits works towards. They are experiencing challenges to get private rent as landlords want large deposits, rent in advance and guarantors even though the person is 18+. Moving into other supported housing is equally limiting as other schemes are facing similar issues. The best option for our clients is to return home or move in with relatives or friends. Engagement Covid continues to leave its legacy on young people. The youth have experienced isolation from society at a young age and still have so few opportunities in resolving their mental health and financial issues. Majority of clients housed at Hits suffer from either anxiety or depression, and at times both. Others have additional conditions such as personality disorders, ADHD. They aren’t getting any support from external agencies. This has resulted in a negative impact on the level of engagement that clients want to do with staff. Also, there have been less people accessing education, they are on universal credit as a job seeker or on sickness benefit. Being sanctioned has become more common in the last year.

Page 2.3 —

Annual Report

Staffing

Amar Matharu served the project for 7 years but has left to develop her career.

The committee re-evaluated the staffing structure to better meet the needs of the project. It was concluded that in addition to the full-time manager, two part time staff positions would be created with specific emphasis of what their roles would be: a support worker and an admin/publicity worker, each working 3 days per week. This will allow us to focus more on the website and social media channels enabling us to promote the project in a modern medium where it can be more accessible to our demographic group. The world of recruitment has changed from the last time the project underwent a recruitment exercise. Recruitment takes place online and we must use job sites to display these job opportunities. In our experience, with the closure of so many similar projects, there is a lack of skilled applicants from this field. However, the I.T. skilled sector has been slightly more promising. We hope to enhance the service, particularly in areas of housing opportunities and preparing our clients for the finances required. We’re also working towards raising the scheme’s profile online and becoming more accessible.

Page 2.4 —

Annual Report

Committee Membership

We have had the six trustees for many years. They have kindly donated their time and skills to ensure a much-needed charity has managed to survive during many years of turmoil as a society that has faced economic setbacks as well as a pandemic. All this has seen its impact on the scheme. Hence the committee organised an ‘Away Day’ for both the members and staff to discuss new initiatives moving forward.

Statistics

Page 2.5 Ci)

Referral Statistics

----- Start of picture text -----
Gender
—_
The gender distribution of applicants is proportional
to last years, but the total number of applicants has
reduced by 22% from 136 to 106.
This comes following Leicester city councils reporting
on an increase in the number of people in temporary
accommodation from 94 in August 2022 to 332 in
December 2023
MALE FEMALE TRANSGENDER NON-BINARY TOTAL
TOTAL 44 61 1 0 106
SUCCESSFUL 5 10 0 0 15
----- End of picture text -----

----- Start of picture text -----
AGE
a a
Page 2.6
<=15 1 C+)
16 5
17 24
18 19
SUCCESSFUL
APPLICANT
19 8
AGE
20 14
16 1
21 5
17 7
ee
22 2
18 5
23 8
20 1
24 3
23 1
25 0
TOTAL 15
26+ 1
7
UNKOWN 17
----- End of picture text -----

Referral Statistics

Age This modal age of applicant this year was 17. Our successful applicant list reflects the age distribution of applicants well with a heavy bias towards 17 and 18, no unknown applicants were accepted.

Referral Statistics

Page 2.7 Ci)

Ethnicity & Nationality

The majority of applicants from the previous year have been British with the plurality being white/British. Of the 24 non-British applicants the 3 accepted where from Sudan, Italy, and 1 unrecorded location. Only 2 successful applicants did not have a direct Leicester connection, 13 had previous connections to the city.

----- Start of picture text -----
ETHNICITY
SUCCESSFUL
&
APPLICANTS
NATIONALITY
WHITE
36 4
BRITISH
BLACK/CARIBBEAN
2 1
BRITISH
BLACK/AFRICAN
4 2
BRITISH
BLACK/OTHER
0 0
BRITISH
ASIAN BRITISH 8 2
DUAL HERITAGE 6 3
UNKOWN 22 0
oo oe
NON-BRITISH 24 3
----- End of picture text -----

Page 2.8 Ci)

Referral Statistics

Referral Source

Colleges and the advice centre are responsible for most of our referrals followed by the LCC and Hostels. The majority off our successful applicants were directly referred by colleges.

15 of the total 78 applicants to make it to the interview stage were accepted, with 14 total apartments that means we had a complete turn over last year with one additional resident turnover; we had 7 refusals due to no vacancies, compared to last year’s 10.

----- Start of picture text -----
Continued
----- End of picture text -----

Referral Statistics

Page 2.9 Ci)

Referral Source

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |22/23|23/24|22/23|23/24| |NO SHOW| |25|0|REFUSED - RISK TO OTHERS|0|0| |FOR FORMAL| |NO| |10|7|REFUSED - INAPPROPRIATE|4|2| |VANCANCIES| |DIDN’T PROCEED WITH RECONSIDERED PROCESS|0|0|OFFER REFUSED|4|3| |REFUSED -| |3|4|HITS WITHDREW OFFER|1|1| |LACK OF SPACES| |REFUSED - UNABLE| |0|0|INAPPROPRIATE REFERRAL|21|14| |TO MOVE ON| |REFUSED - SUPPORT NEEDS TOO HIGH|7|12|ENQUIRY|20|14| |eee eee|ee| |REFUSED - SUPPORT NEEDS TOO LOW|4|6|ACCEPTED OFFER|16|15| |EE|EE eee|ee|

----- End of picture text -----

----- Start of picture text -----
HOMES TRUST
Page 2.10
For Young People Since 1981 Ci)
Occupancy
Statistics
TOTAL
OUTCOME OF RESIDENTS
(30) AGE TOTAL
ee ao
GENDER TOTAL FEMALE MALE
MOVED TO LOCAL 16 2
0
AUTHORITY FLAT
30 19 11
|
17 10
st |
MOVED TO SOCIAL
5
LANDLORD FLAT
ee ee 18 9 DISABILITIES TOTAL REFERRALS (26) TOTAL ACCOMODATED (17)
MOVED IN WITH
4
MENTAL 12 16
FAMILY/FRIENDS 19 1
ee a es
ee
PHYSICAL 5 0
MOVED TO PRIVATE
3 20 4
LANDLORD FLAT
esee eyey Seeeeee
LEARNING 11 1
21 0
OTHER SUPPORTED
2
HOUSING SENSORY 0 0
rd] Fe 22 0 ee
STILL RESIDENT ON GENETIC 0 0
23 2
15
LAST DAY OF PERIOD es
es _ |
24 1 OTHER 0 0
UNKNOWN 1
25 1
_ |
----- End of picture text -----

MAIN REASONS MAIN NEED LEVEL OF TOTAL (30) TOTAL (30) TOTAL (30) FOR HOMELESSNESS FOR SUPPORT SUPPORT es ee es es RELATIONSHIP PHYSICAL 23 0 LOW 13 Page 2.11 BREAKDOWN DISABILITY DOMESTIC 0 AIDS/HIV 0 LOW/MEDIUM 4 VIOLENCE — tf fo} ff PRISON DEGENERATIVE & 0 0 MEDIUM 5 DISCHARGE DEBILITATING ILLNESS — ||} LEARNING HOSPITAL 0 0 MEDIUM/HIGH 7 DIFFICULTY — |} MENTAL LEAVING CARE 0 10 HIGH 1 HEALTH ||} — tf fo} ff RESIDENTIAL COMPLEX NEEDS - 0 0 REHABILITATION NO. OF REASONS Needs Analysis — |} LONG TERM 2 DRUGS 0 HOMELESSNESS At Resident | | | |} — | fo} ff ROUGH SLEEPER 0 ALCOHOL 0 ee Selection YOUNG PERSON LODGINGS/RELATIVES 0 20 AT RISK - 16/17 — ee ee eee eee EVICTION LACKING 0 0 (RENT ARREARS) BASIC SKILLS |fo} — | foo} ff REPOSESSION 0 OTHER 1 ee |} BUDGETING 0 es ee eeee eeeee eee eeee e PRIVATE 0 eeee ee eee eee HARASSMENT 0 ee PROPERTY 0 UNINHABITABLE — | foo}ee eeffeee eee ASYLUM/REFUGEE 5

Registered Charity No:1049935 Registered Company No: 2912187 (England and Wales) HITS HOMES TRUST LIMITED (A Company lin]ited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 MARCH 2024

HITS HOMES TRUST LIMITED INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Charity Reference and Administrative Details Report of the Management Committee Indq)endent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts 10-15 tncome & Expenditure Account - 31 March 2024 EVINGTON REVENUE 16 Income & Expenditure Account - 31 March 2024 EVINGTON 17 Income & Expenditure Account - 31 March 2024 CHARITY CAPITAL 18 Income & Expenditure Acwunt- 31 March 2024 CAprrAL FUND 19 Summary of Funds 20

HITS HOMES TRUST LIMITED cHAR￿y REFERENCE AJYD ADMINISTRATIVE DETAILS FOR THE YEAR EIYDED 31ST MARCH 2024 Charity Name: Hits Homes Trust Limited (a company limited by guarantee without share capital) Charity Regi$tratlon Number: 1049935 Company Registration Number: 2912187 (England & Wales) Registered Office and Operational Address: 86 Evington Road Highfields Leicester LE2 IHH anagement Conllnittee: Dave Brazier (Chair) Kail¢sh Bhayani Victoria Stephenson Piyush Kotecha Ervin Picari Towana Graham Kenrick Ivhite Secretary Kailesh Bhayani Management Team Mrs. N Siddiqui Wall(er (Project Manager) Independent Examiners Celerica Limited Chartered Certified Accountants First Floor The Old Chapel 9 Kempson Road Leicester LE2 8AN Bankers National Westminster PO Box 333 Silbury House 3(M) Silbury Boulevard Milton KeJTres MK9 2ZF Page 1

HTTS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 The trustees present their report and financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRSI 02) in preparing the am]ual financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document, the Charities Act 2011 and 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 Published in October 2019 (second edition). Trnstees of the Charit The directors of the charitable company aTe also its trustees for the pury)ose of charitable law. The trustees who have served during the year and since the year end are as follows: Dave Brazier (Chair) Kailesh Bhayani Victoria Stephenson Piyush Kotecha Ervin Picari Towana Graham Kenrick Ivhite (appointed I l March 2024) Ob"ectIv￿ and Activities The principal activity of the charity continues to be: The provision of housing and associated amenities for young persons in Leicestershire in necessitous circumstances on ternis appropriate to their means. To manage schemes of housing designed for young persons in L¢icestcrshire in nec&ssitous circurnstances. To provide young persons in Leicestershire in need of housing and associated facilities, advice, assistance and support des1￿cd to m¢et their disabilities and requirements to live independ￿tly. b) The trustees have considered the general guidance on public benefit ISSU￿ by the Chariti¢s Commission and has taken due regard of that guidance. The truste¢s consider they are satisfieAI that the charitys activities do provide a wide public benefit. Page 2

HITS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT cOMMI￿EE FOR THE YEAR ENDED 31ST MARCH 2024 (CONTINUED) Achievements and Perfonnance Purchase of 86-88 Evin on Road During Sq)tember 2021, Hits Homes Trust Limited CL)mpleted the purchase of 7 flats and the office at 86188 Evington Roa( Leicester. Statistics In 2023124. Hits Homes Trust Limited continued to provide tempordry self contained accommodation to vulnernble single, homeless people aged between 16 to 25 years old. In 2023124, the project received 106 enquiries for accommodation. Of these, 44 were men and 61 were Wome￿ l trans nonbinary. The ethnicity and nationality of the refe￿alS were: White British 36: Black British 6" Asian British 8. Dual Heritage 6 Other 24. Not Known 26. The project accommodated 30 peopl¢; I I male and 19 female. The ethnicity and nationality of the individuals were: White British 7: Black British 4; Dual Heritage 3. Asian / British 6, Other l O. The age: 16 years old - 2. 17 years old - 10. 18 years old - 9, 19 years old- 1. 20 years old - 4. 21 years old - 0. 22 years old - 0. 23 years old - 2; 24 years old - 1. 25 years old - l. The housing staths of those accommodateAI at the project were: Still Accommodated 15 LCC Housing Housing Association flat Movd to friends / fwnily Moved to private Othcr supported housing Not Known Other 30 Financial Review includin reserves olic With limited resources and difficulties obtaining additional funding, it has continued to be difficult to plan or develop additional services. The charity with sound financial management and the support of the staff team and Management Committee members have incurred a surplus of £28,769 (2023: £14,438). Page 3

HTTS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONTINUED) Financial Review includin reserves lic Continued The charity's unrestricted reserves at the end of the financial year stood at £248,247. Of this £187,643 has been allocated to various designated funds leaving £60,604 as free reserves. The free unrestricted r¢s¢rves of £60,604 has increased from the previous year and the tn￿teeS are continually seeking for other funding to facilitate reserves to cover approximately 6 - 8 months total expenditure. The policy is a rolling wlRCy reviewed am]ually in view of the risks linked with the properties and the potential legislative changes that can be implemented at any given time. Plans for Future Periods The charity plans to continue the activlties outlined above in the forthcoming years subject to the continuance of satisfactory fLmding arrangements. Plans are also being developed to work with a number of training providers to provide in house training for service users to enable them to have a skills base for employment which will lead to long tenn gainfi employment. Structure vernance and mana em¢nt The organisation is a charitable company limited by guarantee, without shar¢ capital. Th¢ company's governing document is the M¢morandum and Articles of Association which established the objects and powers of the charitable company. In th¢ event of th¢ company being wound up members are required to contribute an arnount not exceeding £1. The charity has a current Management Committ¢e of 6 members who meet every 6 weeks and are responsible for the strategic direction and policy of the charity. At present the conmiittee members are from a variety of professional back￿oUndS relevant to the work of th¢ charity. A scheme of delegation is in place and day to day responsibility for the provision of services rests with the Project Manager. The Project Manager is also responsible for ensuring that the charity delivers the services specified and that key perforniance indicators are met and also the day to day operational management. The directors of the company are also clwity trustees for the purposes of charity law and under the Company, s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Cornrnittee are elected annually to serve for a period of one year after which they must be re-elected at the next Amiual General Meeting. One third of the members or a minimum of three are required to stand for re-election at each Annual General Meeting on a rotating basis. Page 4

HITS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONfINUED) Structure vernance and mana ement continued Due to the nature of the objectives of the project much of the charity, s work focuses upon young people. The Management Committee seeks to ensure that the needs of this oup are appropriately reflected through the diversity of the trustee board. To enhance the potential pool of trustees, the charity seeks to identify young people who have been homeless and would be willing to become members and use their own experiences to assist the clwity. The more traditional business skills are well rq)resented on the Management Committee In an effort to maintain a broad mix of skills, members of the Management Comrnittee are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the Management Con)mittee. Most trustees are familiar with the practical work of the charity as the charity has worked in partnership with them in a V￿lety of fields to enhance the support provision provided to the young people. New trustees are invited and encouraged to attend an induction course to familiarise themselves with the charity and the context within which it operates. This is led by the Project Manager and overseen by the Chair of the Managem¢nt Committee and covers: l. A tour of the project, s premises. 2. The obligations of Management Committee members. 3. The polici¢s and procedures and other documents including the Memorandum and Articles of Association. 4. Resourcing and the current fmancial position as set out in the latest published accounts. 5. Future plans and objectives. Further inforniation is provided in a pack Prepar￿ from various Charity Commission documents and the Charity Comrnission's website guide 'An Essential Trustee,. Risk Management The Management Committce has conducted a review of the major risks which the charity is exposed to. A risk register is being established and will be updated annually. Where appropriate, systems and procedures have been establishe￿ to mitigate thc risks that the c]￿lty faces. External risks to fLU]ding have been minimised with a strategLC plan to allow diversification of fLmding. Internal control risks are minimised by the implementation of a financial policy and procedure for authorisation of all transactions within the project. Procedures are in place to ensure compliance with health and safety of staff, volunteers, members of the Management Cornmittee, service users, contractors and visitors to the project. Page 5

HITS HOMES TRUST Lll￿llTED REPORT OF THE MANAGE1￿￿NT COIIQVllTTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONllNUED) Statement of Management Committees, Responsibilities The T￿￿tees, who are also directors of the charity are responsible for preparing the Trustees, Report and fmancial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, wl]ich give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for the year. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observ¢ the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the fmancial 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 inegularities. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting arjd Reporting by Charities 2019 (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Management Committee on . Igned on its behalf by: Mr D Brazier Trustee Page 6

HITS HOMES TRUST (LI￿llTED BY GUARANTEE) INDEPEIYDENT EXAMINERS, REPORT TO THE TRUSTEES OF HITS HOMES TRUST FOR THE YEAR ENDED 31 MARCH 2024 We report on the accounts of Hits Homes Trust for the year ended 3 1st March 2024 which ar¢ set out on pages 8 to 15. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the ac￿Unts in accordance with requirements of the Companies Act 2006 ("the 2006 Act). Having satisfied ourselves that the accounts of the ￿rnpanY are not required to be audited und¢r Part 16 of the 2006 Act and are ¢ligibl¢ for indq)endent examination, we report in respect of our examination we have followed the Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act. Independent Examinerts Statement We have completed our examination. We can confirni that no matters have come to our attention in connection with the examination giving us cause to believe that in any material resp¢ct: accounting records were not kept in respect of the company as required by section 386 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the a¢￿UntIng requirements of section 396 of the 2006 Act other than any requirement that th¢ accounts give a "trne and fair view" which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accord&nce with the methods and principles of the Statement of Recommended Practice for accounting and reporting by cl]arities prq)aTing their accounts in accordance with the Financi￿ Reporting Standard applicable to UK and Republic of Ireland (FRS 102) We have no concerns and have come across no other matters in connection with examination to which attention should be drawn in this report in order to ¢nabl¢ a proper understanding of the accounts to be reached. CELERICA LTD CHARTERED CERTIFIED ACCOUNTANTS FIRST FLOOR THE OLD CHAPEL 9 KEMPSON ROAD LEICESTER LE2 8AN Dated . 27/Ji124 Page 7

HITS HOMES TRUST LIMTTED STATEMEiYf OF FINANCIAL ACTIvrrIES FOR THE YEAR ENDED 31 MARCH 2024 (Including Income and Expendithre) 2024 2024 Unrestricted Restricted FuDds Funds 2024 Total Funds 2023 Total Funds l%ote Income and endowments from: Donations and legacies Charitable activities 202272 1,300 202.272 185,905 1.300 Investments 1,300 Total Income and endowments 203,572 203,572 187,205 Expendlthre on: Charitable activities 169,413 169,413 167,227 Other 5,390 5,390 5,540 Total Expenditure 174,803 174,803 172,767 Net income 28,769 28,769 14,438 Transfer between funds Net m0ven￿llt Jn funds 28,769 2&769 14,438 Reconciliation of funds: Total funds brought forward 219,478 219,478 205,040 Totsl funds carried fO￿ard 248,247 248,247 219,478 All figures relate to continuing operations. There were no recognised gains or108ses for the current or previous period other than as stated above. The movement in fimds is due to the net incoming resources for the year. Page 8

HITS HOMES TRL'ST LIMITED BALA￿CE SHEET AS AT 31 MARCH 2024 Company Number 02912187 (England) 2024 2023 Note FIXED ASSETS 309,216 309216 CURRENT ASSETS Debtors & prepayments Cash at bank and in hand io 66,054 131.844 197.898 65,636 109,948 175,584 CREDTfoRS: Amounts falling due within one year 14.302 16,743 NET CtrRRENf ASSETS 183.596 158,841 CREDITORS: Amounts falling due after more than one year 12 244,565 248,579 NET ASSETS 248347 219.478 FUNDS Unrestrictrd Designated Restricted 14 60,604 187,643 44,998 174,480 14 248247 219 478 The charitsble company is entitled to exemption from audit under Section 477 of the Companies Act for the year ended 31 IwIarch 2024. The members have not required the ¢haritsble company to obtain an audit of the financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2016. The trustecs acknowledge thetr responsibilities for. a) Cnsuring that the chaTitable company keeps aGwunting records that comply with Sections 386 and 387 of th¢ Companies Act 2006 and b) preparing financial statements which give a true and fair wew of the state of the charitabRe company as at the end of the financial yeaT and of its surplus or deficit for each financial year in accordance with the requircments of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Art 2006 relating to fin￿cial statement5, 50 faT as applicabl¢ to charitable cornpany. These financial stst¢ments have been approved in a¢¢ordance with the special provisions of Part 15 of the Companies Act 2006 relating to small ¢haritable companies. Approved by the management ¢ommittee o on its behalf by: Mr D Brazier Trusfre Page 9

HITS HOMES TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 l Accounting Policies l. Sununary of significant accounting polieies General information and basRs of preparadon Hits HOM￿ Trust Limited is a registered charity in England and Wales and also a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. The address of the charitys h¢ad office is given on page l of these financial statements. Th¢ nature of the charIt￿S operations and principal activities detail¢d on page 2 of these financial statements. The charity constitutes a public benefit entity as d¢fined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Stat￿ent of Recommended Practice applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in th¢ United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value where considerpAI necessary. The financial statements are present¢d in sterling which is th¢ functiona] currency of the charity and rounded to the near¢st pound. b Funds Unrestricted fLmds are available for Use at the discretion of the trustees in furtherance of the gen¢ral objectives of the charity and which hav¢ not been deSI￿ted for other purposes. DesI￿ated funds comprise unrestrided funds that have been set aside by the trustees for particular pU￿oses. The aim and use of each designated fund is set out in the notes to the financial staternents. Restricted funds are funds which are to be used in accordance with specific rcstrictions impos¢d by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fLmd. The aim and use of each restricted fLmd is set out in the notss to th¢ financial statements. ¢ Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perforniance of conditions have been meL th¢ amount &2n be measured reliably and it is probable that the income will be recexved. Page 10

HITS HOMES TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) l Accounting Policies (Continued) l. Summary of slgnfftcant accounting policies (Continued) c Ineome recognition (Conthiued) For donations to be reCo￿ls¢d th¢ charity will have been notified of the amounts and the settlemerAt date in ￿Titing. If there are conditions attached to the donation and this r￿U]reS a level of performance before entitlement can b¢ obtsined then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is detemiined on th¢ basis of the value of the gift to the charity. A corresponding amount is recognised in expenditure. No amount of time is Includ￿ in the financial statements for volunteer time in line with SORP FRS (102). Further detail is given in the Trustees Amiual Report. Where practicable, gifts in kind donated for distribution to the b¢neficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is irnpracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits then the fair value is recognised as a component of donations when it is distributed and an quivalent amount recognised as charitable expenditure. Fixed assets gifts in kind ar¢ recognised when receivable are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point incorne is recognised. On occasion, legaci¢s will be notified to the charity however it is not possible to measure the amount expected to be distributed on these occasions, the legacy is treated as a contingent asset and disclosed. tncome from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for suppljing goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding ass¢ts for invesknent purposes such as interest. Interest income is reco￿lsed using the effective interest method. Any dividend and rent income is reCO￿lSed as the charIt￿S right to receive paJTnent is established. Page11

HITS HOMES TRUST LIMITED OTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IWCH 2024 (CONTINUED) l Accounting Policies (Continued) Sllmn￿ry of significant accounting policies (Continued) d Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that awegate all costs related to the category. Expenditure is reCo￿ls¢d where there is a legal or constructive obligation to make paJTrents to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Cost of raising fLmds Expenditure on charitable activities Other ¢xpenditure represents those items not falling into the above categories. I￿eCOVerable VAT is chargpjl as an expense against the activity for which the expenditure arose. Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of ¢xpenditure on the objects of the charity. Fundraising costs are those incurred in seeking voluntary Lxintributions and do not include the costs of disseminating inforniation in support of the charitable activities. The analysis of these Lx)sts is in included in note 7. f Tanglble r￿ed assets No depreciation is provided on tangible fixed asscts. Assets are written off at the time of purchase. This is contrary to the requirements of FRS 102. The trustees consider that these assets will have a small residual value at thc end of each financial year. g Debtors and creditors receivable / payable within one year Debtors and creditors with no stated int¢r&st rdte and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in cxpenditure. h Provisions Provisions are reCO￿]ISed when the charity has an obligation at thc balance sheet date as a result of a past event, It is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Leases Rentals payable or receivable under operating leases are charged to the SOFA on a straigbt line basis over the period of the le&se. Page 12

HITS HOMES TRUST LIMrrED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Accounting Pollcles (Continued) Summary of significant accounting policies (Continued) j Taxation No provision has been made for tsxation as the clwitys ¢lwitsble status renders it exempt from UK direct taxation. k Going concern The fmancial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exisL The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months fro authorising these fmancial statements. The budgeted income and expenditure is sufficient with the level of reserv¢s for the charity to be able to continue as a going concern. 2. Net Income for the year 2024 2023 This is stat¢d after charging: Depreciation Independent Examiners Fe&s 1,650 1,640 Donations Ydnd legacies 2024 2023 General Charitable activities 2024 2023 Rental, servic¢ charge 202,272 185,905 Investments 2024 2023 Bank interest received J,300 1,300 Total Expenditure Staff n Overheads 2024 2023 Charitable activities Evington Road Support Costs 103,498 103,498 18,251 65,915 121,749 169,413 5,390 5,390 127,139 174,803 90,879 76,348 167,227 5,540 47,664 47,664 Governance costs 47,664 172,767 Page 13

HITS HOMES TRUST LIMrfED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (COf4TINUED) 7 Support Costs 2024 2023 Salaries Dcpreciation Communications Office costs Management salaTiCS 26,356 34,324 1,587 16,664 21,308 65,915 1.763 19,868 20,386 76,348 8 Governanee Costs 2024 2023 Independent examiners fee Bookkeeping costs Professional fees 1,650 3,740 1,640 3,900 5,390 5,540 9 Tangible Fixed Assets Freehold Furniture & Total Cost: As l April 2023 Additions Disposals As at 31 March 2024 309216 52,067 361,283 52,067 361,283 Depreciation: As l April 2023 Charge for the year Eliminated on disposal As at 31 March 2024 52,067 52.067 52,067 52,067 Net Book Value: As at 31 March 2024 309,216 309,216 As at 31 March 2023 309,216 309,216 10 Debtors 2024 2023 Rents receivable Sundry debtors & prepayments 12,179 53,875 66,054 12,283 53,353 65,636 Page 14

Hrrs HOMES TRUST LThIITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 11 Creditors: Amounts falling due within one year 2024 2023 Accruals Charity Bank Loan 3,145 11,157 14,302 5,586 11,157 16,743 12 Creditors: Amounts falling due within one year 2024 2023 Clwity Bank Loan 244,565 248,579 13 Wages and Salarics 2023 2023 Total emoluments 47,664 54,710 Average number of employees All staff are employed by the charity. No employees earned more than £60,000 p.a. 14 Unrestricted Funds en Movement in Reserves Incomln oin Closin Balance Balance Transfers Unrestricted: General Capital Fund 44,998 126,420 1,300 (122,576) 11,762 (1,300) 60,604 44,998 127,720 (122,576) 10,462 60,604 Unrestricted Designated: Capitsl Fund Maintenanc¢ Fund Property Fund 50,000 75,000 49,480 219,478 50,000 84,149 53,494 248,247 75,852 (52,227) (14,476) 4,014 203,572 (174,803) With the acquisition of 86-88 Evington Road, the funds have been reclassified as follows: * The Capital Fund is a fLmd yielding interest on an advancement at £1,300 per aDnum. * The Maintenance Fund reflects the portion of the income from Housing Benefit and the designated expenditure relating to the maintenance of the properties. This amount is reviewed periodically for reasonableness. * The Property Fund is the equity on the acquisition 86-88 Evington Road. 15 Trustees No emoluments or cxpenses were paid to any Trustee during the year. 16 Share Capital The company is limited by guarantee and therefore has no share capital. The mcmbers have agreed to contribute to the assets in tbe event of winding up to an amount not excecding £1. Page15

HITS HOMES TRUST LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 EVll¥GTON REVENUE 2024 2023 Grant: Supporting People AdmiIllstration Charge Salaries Travel Training Building Expenses Light & Heat Water Rates Equipment Insurance Telephone Stationery, Postage & Publications Cleaning Materials Miscellaneous Hospitality & Activities Bookkeeping Fecs Reporting Accountant's Charges Advertising Bank Charges Professional fees 47,664 35 54,710 23 260 1,634 295 1253 3,864 1.587 1,715 1,632 1,290 295 996 3,727 1,763 2,372 4,372 6,222 3,740 1,650 3.900 1,640 408 399 68,477 78,969 Iyet (deficit) for tbe Year (see page 20) (68,477 78,969} Page 16

TS HOMES TRUST LIMITED INCOME AND EXPENDITURE AccouNr FOR THE YEAR ENDED 31 MARCH 2024 EVllYGTON RENTS AND SERVICE CHARGE Ullrestrirted Maintenance 2024 Totsl 2023 Total Core Incom¢: Housing Benefit re 82184 Evington Road Housing Benefit re 88 Evington Road Leicester City Council Support charges 67,075 59,345 40,245 35,607 107,320 94,952 95,740 90.165 126,420 75,852 202,272 185,905 Expenditure: Re 82184 Evington Road Building Maintenance Cleaning & Gardening Light & Heat Rent - (Midland Heart) Miscellaneous Furniture & Equipment 20,266 2,146 45 20,266 2,146 45 30,733 21,203 1,964 632 24,990 30,733 3,072 25,529 3,072 56,262 1,834 50,623 30,733 Rc 88 Evington Road Building Maintcnance Cleaning & Gardening Light & Heat LK)an interest Miscellaneous Furniture & Equipment 20,152 2,832 104 20,152 2.832 104 20,538 22.534 1,855 20,538 13,423 3,610 26,698 3,610 47.236 1,544 40,256 20,538 51,271 52,227 103,498 90,879 Net Income for the Year (see page 20) 23,625 Page17

HITS HOMES TRUST LIMrrED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 CHARrrY CAPITAL 2024 2023 In¢om¢'. Contributions from Capital Fund 1,300 iJoo 1,300 ijoo Expenditure: Tenants Activities Moving Packs for Flats Tenanl Fuel allowances 1,670 1,158 312 2.61K) 2,912 2,828 et (Deficit) for the Year (see page 20) Page 18

HITS HOMES TRUST LI￿I[TED YCOME AND EXPENDITURE ACCOU FOR THE YEAR ENDED 31 MARCH 2024 CAPITAL FUND 2024 2023 Income: Gross Interest Received 1,300 1,300 Expenditure: Contribution to ChaTity Capital: Residents Development 1.300 1,300 Iyet Income for the Year (see page 20) Page 19

IIITS HOMES TRUST LIMITED SUMMARY OF FUNDS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 EVINGTON REVENUE (68,477) (78,969) EVINGTON REFUS AND SERVICE CHARGE SURPLUS 98,774 95,026 (1,528) (1,612) SURPLUS FOR ThE YEAR 28,769 14,445 Less Depreciation for the year (7) 28,769 14,438 FUNDS BROUGHT FORWARD 219,478 205,040 FUNDS CARRIED FORWARD 248,247 219,478 ALLOCATED BETWEEN: UNRESIRICTED FUNDS DESIGNATED MAINTENANCE FUND DESIGNATED PROPERTY FUND DESIGNATED CAprrAL FUND 60,604 84,149 53,494 50,000 44,998 75,000 49,480 50,(X)O 248347 219,477 Page 20

Registered Charity No:1049935 Registered Company No: 2912187 (England and Wales) HITS HOMES TRUST LIMITED (A Company lin]ited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 MARCH 2024

HITS HOMES TRUST LIMITED INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Charity Reference and Administrative Details Report of the Management Committee Indq)endent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts 10-15 tncome & Expenditure Account - 31 March 2024 EVINGTON REVENUE 16 Income & Expenditure Account - 31 March 2024 EVINGTON 17 Income & Expenditure Account - 31 March 2024 CHARITY CAPITAL 18 Income & Expenditure Acwunt- 31 March 2024 CAprrAL FUND 19 Summary of Funds 20

HITS HOMES TRUST LIMITED cHAR￿y REFERENCE AJYD ADMINISTRATIVE DETAILS FOR THE YEAR EIYDED 31ST MARCH 2024 Charity Name: Hits Homes Trust Limited (a company limited by guarantee without share capital) Charity Regi$tratlon Number: 1049935 Company Registration Number: 2912187 (England & Wales) Registered Office and Operational Address: 86 Evington Road Highfields Leicester LE2 IHH anagement Conllnittee: Dave Brazier (Chair) Kail¢sh Bhayani Victoria Stephenson Piyush Kotecha Ervin Picari Towana Graham Kenrick Ivhite Secretary Kailesh Bhayani Management Team Mrs. N Siddiqui Wall(er (Project Manager) Independent Examiners Celerica Limited Chartered Certified Accountants First Floor The Old Chapel 9 Kempson Road Leicester LE2 8AN Bankers National Westminster PO Box 333 Silbury House 3(M) Silbury Boulevard Milton KeJTres MK9 2ZF Page 1

HTTS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 The trustees present their report and financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRSI 02) in preparing the am]ual financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document, the Charities Act 2011 and 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 Published in October 2019 (second edition). Trnstees of the Charit The directors of the charitable company aTe also its trustees for the pury)ose of charitable law. The trustees who have served during the year and since the year end are as follows: Dave Brazier (Chair) Kailesh Bhayani Victoria Stephenson Piyush Kotecha Ervin Picari Towana Graham Kenrick Ivhite (appointed I l March 2024) Ob"ectIv￿ and Activities The principal activity of the charity continues to be: The provision of housing and associated amenities for young persons in Leicestershire in necessitous circumstances on ternis appropriate to their means. To manage schemes of housing designed for young persons in L¢icestcrshire in nec&ssitous circurnstances. To provide young persons in Leicestershire in need of housing and associated facilities, advice, assistance and support des1￿cd to m¢et their disabilities and requirements to live independ￿tly. b) The trustees have considered the general guidance on public benefit ISSU￿ by the Chariti¢s Commission and has taken due regard of that guidance. The truste¢s consider they are satisfieAI that the charitys activities do provide a wide public benefit. Page 2

HITS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT cOMMI￿EE FOR THE YEAR ENDED 31ST MARCH 2024 (CONTINUED) Achievements and Perfonnance Purchase of 86-88 Evin on Road During Sq)tember 2021, Hits Homes Trust Limited CL)mpleted the purchase of 7 flats and the office at 86188 Evington Roa( Leicester. Statistics In 2023124. Hits Homes Trust Limited continued to provide tempordry self contained accommodation to vulnernble single, homeless people aged between 16 to 25 years old. In 2023124, the project received 106 enquiries for accommodation. Of these, 44 were men and 61 were Wome￿ l trans nonbinary. The ethnicity and nationality of the refe￿alS were: White British 36: Black British 6" Asian British 8. Dual Heritage 6 Other 24. Not Known 26. The project accommodated 30 peopl¢; I I male and 19 female. The ethnicity and nationality of the individuals were: White British 7: Black British 4; Dual Heritage 3. Asian / British 6, Other l O. The age: 16 years old - 2. 17 years old - 10. 18 years old - 9, 19 years old- 1. 20 years old - 4. 21 years old - 0. 22 years old - 0. 23 years old - 2; 24 years old - 1. 25 years old - l. The housing staths of those accommodateAI at the project were: Still Accommodated 15 LCC Housing Housing Association flat Movd to friends / fwnily Moved to private Othcr supported housing Not Known Other 30 Financial Review includin reserves olic With limited resources and difficulties obtaining additional funding, it has continued to be difficult to plan or develop additional services. The charity with sound financial management and the support of the staff team and Management Committee members have incurred a surplus of £28,769 (2023: £14,438). Page 3

HTTS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONTINUED) Financial Review includin reserves lic Continued The charity's unrestricted reserves at the end of the financial year stood at £248,247. Of this £187,643 has been allocated to various designated funds leaving £60,604 as free reserves. The free unrestricted r¢s¢rves of £60,604 has increased from the previous year and the tn￿teeS are continually seeking for other funding to facilitate reserves to cover approximately 6 - 8 months total expenditure. The policy is a rolling wlRCy reviewed am]ually in view of the risks linked with the properties and the potential legislative changes that can be implemented at any given time. Plans for Future Periods The charity plans to continue the activlties outlined above in the forthcoming years subject to the continuance of satisfactory fLmding arrangements. Plans are also being developed to work with a number of training providers to provide in house training for service users to enable them to have a skills base for employment which will lead to long tenn gainfi employment. Structure vernance and mana em¢nt The organisation is a charitable company limited by guarantee, without shar¢ capital. Th¢ company's governing document is the M¢morandum and Articles of Association which established the objects and powers of the charitable company. In th¢ event of th¢ company being wound up members are required to contribute an arnount not exceeding £1. The charity has a current Management Committ¢e of 6 members who meet every 6 weeks and are responsible for the strategic direction and policy of the charity. At present the conmiittee members are from a variety of professional back￿oUndS relevant to the work of th¢ charity. A scheme of delegation is in place and day to day responsibility for the provision of services rests with the Project Manager. The Project Manager is also responsible for ensuring that the charity delivers the services specified and that key perforniance indicators are met and also the day to day operational management. The directors of the company are also clwity trustees for the purposes of charity law and under the Company, s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Cornrnittee are elected annually to serve for a period of one year after which they must be re-elected at the next Amiual General Meeting. One third of the members or a minimum of three are required to stand for re-election at each Annual General Meeting on a rotating basis. Page 4

HITS HOMES TRUST LIMITED REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONfINUED) Structure vernance and mana ement continued Due to the nature of the objectives of the project much of the charity, s work focuses upon young people. The Management Committee seeks to ensure that the needs of this oup are appropriately reflected through the diversity of the trustee board. To enhance the potential pool of trustees, the charity seeks to identify young people who have been homeless and would be willing to become members and use their own experiences to assist the clwity. The more traditional business skills are well rq)resented on the Management Committee In an effort to maintain a broad mix of skills, members of the Management Comrnittee are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the Management Con)mittee. Most trustees are familiar with the practical work of the charity as the charity has worked in partnership with them in a V￿lety of fields to enhance the support provision provided to the young people. New trustees are invited and encouraged to attend an induction course to familiarise themselves with the charity and the context within which it operates. This is led by the Project Manager and overseen by the Chair of the Managem¢nt Committee and covers: l. A tour of the project, s premises. 2. The obligations of Management Committee members. 3. The polici¢s and procedures and other documents including the Memorandum and Articles of Association. 4. Resourcing and the current fmancial position as set out in the latest published accounts. 5. Future plans and objectives. Further inforniation is provided in a pack Prepar￿ from various Charity Commission documents and the Charity Comrnission's website guide 'An Essential Trustee,. Risk Management The Management Committce has conducted a review of the major risks which the charity is exposed to. A risk register is being established and will be updated annually. Where appropriate, systems and procedures have been establishe￿ to mitigate thc risks that the c]￿lty faces. External risks to fLU]ding have been minimised with a strategLC plan to allow diversification of fLmding. Internal control risks are minimised by the implementation of a financial policy and procedure for authorisation of all transactions within the project. Procedures are in place to ensure compliance with health and safety of staff, volunteers, members of the Management Cornmittee, service users, contractors and visitors to the project. Page 5

HITS HOMES TRUST Lll￿llTED REPORT OF THE MANAGE1￿￿NT COIIQVllTTEE FOR THE YEAR ENDED 31ST MARCH 2024 (CONllNUED) Statement of Management Committees, Responsibilities The T￿￿tees, who are also directors of the charity are responsible for preparing the Trustees, Report and fmancial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, wl]ich give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for the year. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observ¢ the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the fmancial 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 inegularities. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting arjd Reporting by Charities 2019 (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Management Committee on . Igned on its behalf by: Mr D Brazier Trustee Page 6

HITS HOMES TRUST (LI￿llTED BY GUARANTEE) INDEPEIYDENT EXAMINERS, REPORT TO THE TRUSTEES OF HITS HOMES TRUST FOR THE YEAR ENDED 31 MARCH 2024 We report on the accounts of Hits Homes Trust for the year ended 3 1st March 2024 which ar¢ set out on pages 8 to 15. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the ac￿Unts in accordance with requirements of the Companies Act 2006 ("the 2006 Act). Having satisfied ourselves that the accounts of the ￿rnpanY are not required to be audited und¢r Part 16 of the 2006 Act and are ¢ligibl¢ for indq)endent examination, we report in respect of our examination we have followed the Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act. Independent Examinerts Statement We have completed our examination. We can confirni that no matters have come to our attention in connection with the examination giving us cause to believe that in any material resp¢ct: accounting records were not kept in respect of the company as required by section 386 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the a¢￿UntIng requirements of section 396 of the 2006 Act other than any requirement that th¢ accounts give a "trne and fair view" which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accord&nce with the methods and principles of the Statement of Recommended Practice for accounting and reporting by cl]arities prq)aTing their accounts in accordance with the Financi￿ Reporting Standard applicable to UK and Republic of Ireland (FRS 102) We have no concerns and have come across no other matters in connection with examination to which attention should be drawn in this report in order to ¢nabl¢ a proper understanding of the accounts to be reached. CELERICA LTD CHARTERED CERTIFIED ACCOUNTANTS FIRST FLOOR THE OLD CHAPEL 9 KEMPSON ROAD LEICESTER LE2 8AN Dated . 27/Ji124 Page 7

HITS HOMES TRUST LIMTTED STATEMEiYf OF FINANCIAL ACTIvrrIES FOR THE YEAR ENDED 31 MARCH 2024 (Including Income and Expendithre) 2024 2024 Unrestricted Restricted FuDds Funds 2024 Total Funds 2023 Total Funds l%ote Income and endowments from: Donations and legacies Charitable activities 202272 1,300 202.272 185,905 1.300 Investments 1,300 Total Income and endowments 203,572 203,572 187,205 Expendlthre on: Charitable activities 169,413 169,413 167,227 Other 5,390 5,390 5,540 Total Expenditure 174,803 174,803 172,767 Net income 28,769 28,769 14,438 Transfer between funds Net m0ven￿llt Jn funds 28,769 2&769 14,438 Reconciliation of funds: Total funds brought forward 219,478 219,478 205,040 Totsl funds carried fO￿ard 248,247 248,247 219,478 All figures relate to continuing operations. There were no recognised gains or108ses for the current or previous period other than as stated above. The movement in fimds is due to the net incoming resources for the year. Page 8

HITS HOMES TRL'ST LIMITED BALA￿CE SHEET AS AT 31 MARCH 2024 Company Number 02912187 (England) 2024 2023 Note FIXED ASSETS 309,216 309216 CURRENT ASSETS Debtors & prepayments Cash at bank and in hand io 66,054 131.844 197.898 65,636 109,948 175,584 CREDTfoRS: Amounts falling due within one year 14.302 16,743 NET CtrRRENf ASSETS 183.596 158,841 CREDITORS: Amounts falling due after more than one year 12 244,565 248,579 NET ASSETS 248347 219.478 FUNDS Unrestrictrd Designated Restricted 14 60,604 187,643 44,998 174,480 14 248247 219 478 The charitsble company is entitled to exemption from audit under Section 477 of the Companies Act for the year ended 31 IwIarch 2024. The members have not required the ¢haritsble company to obtain an audit of the financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2016. The trustecs acknowledge thetr responsibilities for. a) Cnsuring that the chaTitable company keeps aGwunting records that comply with Sections 386 and 387 of th¢ Companies Act 2006 and b) preparing financial statements which give a true and fair wew of the state of the charitabRe company as at the end of the financial yeaT and of its surplus or deficit for each financial year in accordance with the requircments of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Art 2006 relating to fin￿cial statement5, 50 faT as applicabl¢ to charitable cornpany. These financial stst¢ments have been approved in a¢¢ordance with the special provisions of Part 15 of the Companies Act 2006 relating to small ¢haritable companies. Approved by the management ¢ommittee o on its behalf by: Mr D Brazier Trusfre Page 9

HITS HOMES TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 l Accounting Policies l. Sununary of significant accounting polieies General information and basRs of preparadon Hits HOM￿ Trust Limited is a registered charity in England and Wales and also a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. The address of the charitys h¢ad office is given on page l of these financial statements. Th¢ nature of the charIt￿S operations and principal activities detail¢d on page 2 of these financial statements. The charity constitutes a public benefit entity as d¢fined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Stat￿ent of Recommended Practice applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in th¢ United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value where considerpAI necessary. The financial statements are present¢d in sterling which is th¢ functiona] currency of the charity and rounded to the near¢st pound. b Funds Unrestricted fLmds are available for Use at the discretion of the trustees in furtherance of the gen¢ral objectives of the charity and which hav¢ not been deSI￿ted for other purposes. DesI￿ated funds comprise unrestrided funds that have been set aside by the trustees for particular pU￿oses. The aim and use of each designated fund is set out in the notes to the financial staternents. Restricted funds are funds which are to be used in accordance with specific rcstrictions impos¢d by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fLmd. The aim and use of each restricted fLmd is set out in the notss to th¢ financial statements. ¢ Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perforniance of conditions have been meL th¢ amount &2n be measured reliably and it is probable that the income will be recexved. Page 10

HITS HOMES TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) l Accounting Policies (Continued) l. Summary of slgnfftcant accounting policies (Continued) c Ineome recognition (Conthiued) For donations to be reCo￿ls¢d th¢ charity will have been notified of the amounts and the settlemerAt date in ￿Titing. If there are conditions attached to the donation and this r￿U]reS a level of performance before entitlement can b¢ obtsined then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is detemiined on th¢ basis of the value of the gift to the charity. A corresponding amount is recognised in expenditure. No amount of time is Includ￿ in the financial statements for volunteer time in line with SORP FRS (102). Further detail is given in the Trustees Amiual Report. Where practicable, gifts in kind donated for distribution to the b¢neficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is irnpracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits then the fair value is recognised as a component of donations when it is distributed and an quivalent amount recognised as charitable expenditure. Fixed assets gifts in kind ar¢ recognised when receivable are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point incorne is recognised. On occasion, legaci¢s will be notified to the charity however it is not possible to measure the amount expected to be distributed on these occasions, the legacy is treated as a contingent asset and disclosed. tncome from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for suppljing goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding ass¢ts for invesknent purposes such as interest. Interest income is reco￿lsed using the effective interest method. Any dividend and rent income is reCO￿lSed as the charIt￿S right to receive paJTnent is established. Page11

HITS HOMES TRUST LIMITED OTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IWCH 2024 (CONTINUED) l Accounting Policies (Continued) Sllmn￿ry of significant accounting policies (Continued) d Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that awegate all costs related to the category. Expenditure is reCo￿ls¢d where there is a legal or constructive obligation to make paJTrents to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Cost of raising fLmds Expenditure on charitable activities Other ¢xpenditure represents those items not falling into the above categories. I￿eCOVerable VAT is chargpjl as an expense against the activity for which the expenditure arose. Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of ¢xpenditure on the objects of the charity. Fundraising costs are those incurred in seeking voluntary Lxintributions and do not include the costs of disseminating inforniation in support of the charitable activities. The analysis of these Lx)sts is in included in note 7. f Tanglble r￿ed assets No depreciation is provided on tangible fixed asscts. Assets are written off at the time of purchase. This is contrary to the requirements of FRS 102. The trustees consider that these assets will have a small residual value at thc end of each financial year. g Debtors and creditors receivable / payable within one year Debtors and creditors with no stated int¢r&st rdte and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in cxpenditure. h Provisions Provisions are reCO￿]ISed when the charity has an obligation at thc balance sheet date as a result of a past event, It is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Leases Rentals payable or receivable under operating leases are charged to the SOFA on a straigbt line basis over the period of the le&se. Page 12

HITS HOMES TRUST LIMrrED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Accounting Pollcles (Continued) Summary of significant accounting policies (Continued) j Taxation No provision has been made for tsxation as the clwitys ¢lwitsble status renders it exempt from UK direct taxation. k Going concern The fmancial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exisL The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months fro authorising these fmancial statements. The budgeted income and expenditure is sufficient with the level of reserv¢s for the charity to be able to continue as a going concern. 2. Net Income for the year 2024 2023 This is stat¢d after charging: Depreciation Independent Examiners Fe&s 1,650 1,640 Donations Ydnd legacies 2024 2023 General Charitable activities 2024 2023 Rental, servic¢ charge 202,272 185,905 Investments 2024 2023 Bank interest received J,300 1,300 Total Expenditure Staff n Overheads 2024 2023 Charitable activities Evington Road Support Costs 103,498 103,498 18,251 65,915 121,749 169,413 5,390 5,390 127,139 174,803 90,879 76,348 167,227 5,540 47,664 47,664 Governance costs 47,664 172,767 Page 13

HITS HOMES TRUST LIMrfED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (COf4TINUED) 7 Support Costs 2024 2023 Salaries Dcpreciation Communications Office costs Management salaTiCS 26,356 34,324 1,587 16,664 21,308 65,915 1.763 19,868 20,386 76,348 8 Governanee Costs 2024 2023 Independent examiners fee Bookkeeping costs Professional fees 1,650 3,740 1,640 3,900 5,390 5,540 9 Tangible Fixed Assets Freehold Furniture & Total Cost: As l April 2023 Additions Disposals As at 31 March 2024 309216 52,067 361,283 52,067 361,283 Depreciation: As l April 2023 Charge for the year Eliminated on disposal As at 31 March 2024 52,067 52.067 52,067 52,067 Net Book Value: As at 31 March 2024 309,216 309,216 As at 31 March 2023 309,216 309,216 10 Debtors 2024 2023 Rents receivable Sundry debtors & prepayments 12,179 53,875 66,054 12,283 53,353 65,636 Page 14

Hrrs HOMES TRUST LThIITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 11 Creditors: Amounts falling due within one year 2024 2023 Accruals Charity Bank Loan 3,145 11,157 14,302 5,586 11,157 16,743 12 Creditors: Amounts falling due within one year 2024 2023 Clwity Bank Loan 244,565 248,579 13 Wages and Salarics 2023 2023 Total emoluments 47,664 54,710 Average number of employees All staff are employed by the charity. No employees earned more than £60,000 p.a. 14 Unrestricted Funds en Movement in Reserves Incomln oin Closin Balance Balance Transfers Unrestricted: General Capital Fund 44,998 126,420 1,300 (122,576) 11,762 (1,300) 60,604 44,998 127,720 (122,576) 10,462 60,604 Unrestricted Designated: Capitsl Fund Maintenanc¢ Fund Property Fund 50,000 75,000 49,480 219,478 50,000 84,149 53,494 248,247 75,852 (52,227) (14,476) 4,014 203,572 (174,803) With the acquisition of 86-88 Evington Road, the funds have been reclassified as follows: * The Capital Fund is a fLmd yielding interest on an advancement at £1,300 per aDnum. * The Maintenance Fund reflects the portion of the income from Housing Benefit and the designated expenditure relating to the maintenance of the properties. This amount is reviewed periodically for reasonableness. * The Property Fund is the equity on the acquisition 86-88 Evington Road. 15 Trustees No emoluments or cxpenses were paid to any Trustee during the year. 16 Share Capital The company is limited by guarantee and therefore has no share capital. The mcmbers have agreed to contribute to the assets in tbe event of winding up to an amount not excecding £1. Page15

HITS HOMES TRUST LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 EVll¥GTON REVENUE 2024 2023 Grant: Supporting People AdmiIllstration Charge Salaries Travel Training Building Expenses Light & Heat Water Rates Equipment Insurance Telephone Stationery, Postage & Publications Cleaning Materials Miscellaneous Hospitality & Activities Bookkeeping Fecs Reporting Accountant's Charges Advertising Bank Charges Professional fees 47,664 35 54,710 23 260 1,634 295 1253 3,864 1.587 1,715 1,632 1,290 295 996 3,727 1,763 2,372 4,372 6,222 3,740 1,650 3.900 1,640 408 399 68,477 78,969 Iyet (deficit) for tbe Year (see page 20) (68,477 78,969} Page 16

TS HOMES TRUST LIMITED INCOME AND EXPENDITURE AccouNr FOR THE YEAR ENDED 31 MARCH 2024 EVllYGTON RENTS AND SERVICE CHARGE Ullrestrirted Maintenance 2024 Totsl 2023 Total Core Incom¢: Housing Benefit re 82184 Evington Road Housing Benefit re 88 Evington Road Leicester City Council Support charges 67,075 59,345 40,245 35,607 107,320 94,952 95,740 90.165 126,420 75,852 202,272 185,905 Expenditure: Re 82184 Evington Road Building Maintenance Cleaning & Gardening Light & Heat Rent - (Midland Heart) Miscellaneous Furniture & Equipment 20,266 2,146 45 20,266 2,146 45 30,733 21,203 1,964 632 24,990 30,733 3,072 25,529 3,072 56,262 1,834 50,623 30,733 Rc 88 Evington Road Building Maintcnance Cleaning & Gardening Light & Heat LK)an interest Miscellaneous Furniture & Equipment 20,152 2,832 104 20,152 2.832 104 20,538 22.534 1,855 20,538 13,423 3,610 26,698 3,610 47.236 1,544 40,256 20,538 51,271 52,227 103,498 90,879 Net Income for the Year (see page 20) 23,625 Page17

HITS HOMES TRUST LIMrrED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 CHARrrY CAPITAL 2024 2023 In¢om¢'. Contributions from Capital Fund 1,300 iJoo 1,300 ijoo Expenditure: Tenants Activities Moving Packs for Flats Tenanl Fuel allowances 1,670 1,158 312 2.61K) 2,912 2,828 et (Deficit) for the Year (see page 20) Page 18

HITS HOMES TRUST LI￿I[TED YCOME AND EXPENDITURE ACCOU FOR THE YEAR ENDED 31 MARCH 2024 CAPITAL FUND 2024 2023 Income: Gross Interest Received 1,300 1,300 Expenditure: Contribution to ChaTity Capital: Residents Development 1.300 1,300 Iyet Income for the Year (see page 20) Page 19

IIITS HOMES TRUST LIMITED SUMMARY OF FUNDS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 EVINGTON REVENUE (68,477) (78,969) EVINGTON REFUS AND SERVICE CHARGE SURPLUS 98,774 95,026 (1,528) (1,612) SURPLUS FOR ThE YEAR 28,769 14,445 Less Depreciation for the year (7) 28,769 14,438 FUNDS BROUGHT FORWARD 219,478 205,040 FUNDS CARRIED FORWARD 248,247 219,478 ALLOCATED BETWEEN: UNRESIRICTED FUNDS DESIGNATED MAINTENANCE FUND DESIGNATED PROPERTY FUND DESIGNATED CAprrAL FUND 60,604 84,149 53,494 50,000 44,998 75,000 49,480 50,(X)O 248347 219,477 Page 20