# Peeeee f+! **ANNUAL GENERAL** = _aa i. -ae f. eci aa “iat 3 i “2 -_ ae ee ee ol = “Ny s.! a5 ' ee a ee ee **MEETING** eS, ee eh tae ie = fi, a a | < if ip: 4 oe A bs thy Ny “ By ne | 5 Wigs? **21st January 2026**
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AGENDA
01. 02. 03.
Minutes of the
Present Apologies
Last AGM
04. 05. 06.
Annual Report Audited Accounts Election of
& Statistics Directors
07.
Any Other
Business
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PaaS ME ERs peed eee raSPEAE RE ten iro ena [Pe]
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## **MINUTES OF THE** MINUTES OF THE **LAST AGM** LAST AGM
**Continued on the next page**
3. **Minutes of the Last AGM**
Dave Brazier – Committee Chairperson
Kash asked why the discussion on researching the lack of
LL SS ) **Annual Report & Statistics** Dave wanted it minuted that Amar Matharu, in his opinion, has had a significant contribution to HITS. Vicki thought the report was well presented. The graphs were done by Thomas prior to leaving. The age of the people who resided were consistent with those over the years. Naila highlighted the increase in people with mental health conditions as the main reason for homelessness. Towana had offered to create a document which showed what services were in Leicester. Dave informed all that the council had a website that listed services in Leicester. HITS were on Homeless Link but not in others. MyChoice was another directory used at Shelter. Naila informed Kash that it was mainly anxiety and depression that inflicted our client groups.
# **MINUTES OF THE LAST AGM**
## 5. **Annual Report & Statistics**
## 6. **Audited Accounts**
Piyush reported that income had increased in the year due to the 7% rent increase last year because of high inflation. However, the project had suffered high void levels as in the past they were around 4% and last year they were over 10%. There were also higher management costs due to salaries and both the Midland Heart and Charity Bank cost went up due to inflation.
However, the accounts still showed a surplus of £28,000 and reserves now stood at £248,000 giving HITS 18 months of liquidity.
Piyush and Dave both agreed that it made financial sense for future income security to purchase 82/84. We could ask for an additional loan or combine the two loans to pay for both properties. In 25 years, HITS will have no rental liability. Piyush pointed out that 88 already increased its assets by £50,000.
The referrals were quite large for a small housing provider to help the number of people needing housing.
Accounts were approved.
## 7. **Election of Directors**
- Kash suggested we analyse all sections of local connection since we record that information.
Dave stood down as Chair while Kash chaired it.
Kash nominated Dave for Chair – seconded by Vicki and Piyush. Dave replaced Kash as chair.
- Dave thanked all staff who contributed towards the Annual Report and Statistics.
Dave nominated the rest of the trustees to be elected on block with the present positions. Seconded by Towana.
Lawrence was invited by Kash to talk about his skills and background. He also explained how he had focused on social media such as Facebook, Instagram, X and LinkedIn. Will investigate TikTok.
Ervin was elected in his absence subject to his approval.
## 8. **A.O.B**
## None
**Continued on the next page**
## **MANAGEMENT COMMITTEE**
The management committee consists of 7 trustees that continue to voluntarily dedicate their time and effort into running and improving the project. Their skills, critical thinking, and initiative have greatly contributed to the progression of the project, especially in regards to staffing, publicity, and client engagement.
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Continued on the
next page
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# **STAFFING**
The committee has created a **strong staff structure** to meet the needs of the project and its clients, consisting of the **Project Manager, the IT/Publicity Worker, and the Engagement Worker** , each taking on their own specific roles and responsibilities while also working together as a team to ensure the project's success.
**The Project Manager is the backbone of the team** . Naila’s continued efforts and initiatives over the years has kept the project running smoothly and effectively. Her extensive knowledge has allowed the HITS residents to receive the support they needed as well as the newly recruited staff to undergo the correct training to carry out their roles efficiently. Naila often proposes great ideas to the team for the social media, website, engagement, networking, and the overall running of the project which the team has made an effort to put into place.
. **The IT/Publicity Worker allows the project to be more visible online, reaching residents, industry professionals, and the general public** Major progress has been made on HITS’ website with a full redesign, and the social media has been updated regularly with project updates and an array of educational content. We’ve seen a proactive year of networking, with Lawrence regularly attending Zinthiya Trusts' coffee morning drop in events. New brochures were designed and handed out at these events as well as a pop up banner to elevate our brand in the public’s perception. The brochures were also mailed to several relevant organisations to increase relationships, brand awareness, and referrals, with one current resident learning about us through our brochure.
**The Engagement Worker has brought in fresh ideas and a proactive attitude in order to tackle the engagement problems HITS has been facing** . Harpreet has already become a familiar face to the residents at HITS. She’s offered residents support in any areas they’ve needed and
she’s made the effort to keep up to date with them. Harpreet has proposed new ideas and activities, and has worked closely with Lawrence to get them promoted to the residents and social media. As well as Lawrence visiting organisations and networking, Harpreet is also making an effort to connect with different organisations and agencies, allowing her to build strong relationships and receive inspiration from their work. This will increase the chance of future referrals, especially as she’s also giving them some of our brochures.
**Continued on the next page**
## **THE OFFICE**
The office has undergone a big change this year. In an effort to increase the engagement of residents at HITS, renovations have been completed to give the office a more modern and friendly feel so that the residents feel more comfortable during support sessions and activities. Lots of positive feedback has been received on the changes from the residents, contractors, the committee, and the staff.
**CHALLENGES A challenge the project has faced is having to discourage residents from getting a job due to the unaffordable rate of rent** . If they’re earning an income, they simply won't be able to afford the rent, and they won’t want to pay it either. Residents are also finding it extremely difficult to move on to private housing as many private landlords require up to 6 months’ rent in advance and a secure guarantor. Not to mention the cost of living rise which has caused many young people to be more hesitant to move out from bad environments. **The economy and the welfare system have resulted in less referrals and less successful move ons. Engagement is still a big problem at HITS** . Majority of young people suffer from some level of anxiety and depression which makes it so much harder for them to carry out their day to day duties, including HITS’ support sessions and activities. Young people are struggling with face to face interactions, mostly due to social media, technology, and the rise of AI. They’d much prefer to stay inside and interact over the phone. **Poor mental health and an addiction to technology has caused young people to simply not want to engage with us, at least face to face.**
**REFERRAL STATISTICS 0 10 20 Mental 23 Learning 7 GENDER + DISABILITIES Physical 3 Sensory 0** In 2024/2025, there were 150 **Genetic 0** inquiries for accommodation — of **2024/25** these, 69 were males and 81 were **Other 0** =—_ = females. The year before, there were 106 inquiries, and the year before that, there were 136 inquiries **Total = 150** — this year has surpassed both. Majority of referrals with disabilities had a mental disability, predominantly depression and/or anxiety. Total amounts to 33 **Males** individuals with disabilities out of **69** 150 referrals. **Females 81** Be .
**50**
**40 34 30 22 21 20 15 12 11 10 10 6 5 5 5 4 0 Ages**
## **Leicester Connection**
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REFERRAL STATISTICS Leicester Connection
Unknown
18
No
18
ETHNICITY & NATIONALITY
amp G4
Trends over the years have
show a split between White
British and Non-British, this Yes
114
year follows the trend. There
are a large number of
0 20 40
referrals which are not known.
White British 54
Out of the 150 referral Unknown 36
inquiries, the majority had a Non-British 35
direct Leicester connection.
Black British 12
,
Asian - British 9
2024/25
Dual Heritage - British 4
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## **Outcome of Referrals**
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0 20
No Show 39
Inappropriate Referral 35
Withdrew Before Informal 30
Enquiry Only 15
Support Needs Too High 15
Accepted 12
No Vacancies 11
Withdrew From Formal Interview 2
Support Needs Too Low 2
Refused Offer 1
Internal Transfer 0
2024/25
Didn't Proceed With Reconsider 0
0 20 40
Advice Centres 44
Supported Housing 19
LCC 16
Colleges 15
Self-Referral 9
Unknown 8
Other 7
Friend 6
County Council 5
Other City Social Services 4
Ex-Tenant 4
Leicester Social Services 3
County Social Services 3
Family 3
Current Tenant 2
Other City Council 1
Justice System - 1
Employment Agencies 0 2024/25
Connexions 0
LGBC 0
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**OCCUPANCY STATISTICS Total = 26 GENDER + DISABILITIES Males 11 0 10 Mental 17 Females 15 Physical 0 Learning 0** — - **Sensory 0 Genetic 0** Total = 26 Occupants **2024/25 Other 0**
## **OCCUPANCY STATISTICS**
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AGE
15
-— 15 oe y
10
6
Total = 26 Occupants
5
2
1 1 1
0
16 17 18 19 20 21 22 23 24 25
Ages
Occupants
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## **OCCUPANCY STATISTICS ETHNICITY & NATIONALITY** 7: **0 5 10**
**White British Non-British Asian - British 5** a **Black British 2 Dual Heritage - British 1**
**2024/25**
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Leicester Connection
No
5
12
Yes
26
Total = 26 Occupants
**----- End of picture text -----**
**6**
## **OCCUPANCY STATISTICS**
Total = 26 Occupants **ADMISSION OUTCOMES** — **0 5 10 Still Accommodated Moved to Private 4 Unknown 4 Moved to Family 2 1 Housing Association Flat** — **1 University LCC Housing 0**
# **2024/25**
**14**
**Other 0**
## **HITS Homes Trust**
# **THANK YOU!**
_Annual General Meeting - 2026_
Registered Charity No'.1049935
Registered Company No: 2912187
(England and Wales)
HITS HOMES TRUST LIMITED
(A Company limited by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
HITS HOMES TRUST LIMITED
llEx TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 IWICH 2025
Page
Clwity Reference and Administrative Details
Report of the Management Committee
Independent Examiners Rew)rt
ststement of Financial Activities
Balance Sheet
Notes to the Accounts
10-16
Income & Expendire Account - 31 March 2025
EVINGTON REVENUE
17
Income & Expenditure Account - 31 MaTch 2025
EVTrIGTON
18
Incorne & Expendithre Account - 31 March 2025
CHARrrY CAPITAL
19
Income & Expenditure Account - 31 March 2025
CAPITAL FUND
20
Summary of Funds
21
HITS HOMES TRUST LIMITED
CHARrrY REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31ST MARCH 2025
Charlty Name:
Hits Homes Tnlst Limited
(a company limited by guarantee without share PItal)
Charity Registration Iyumber:
1049935
Company Registration Iyumber: 2912187 (England & Wa]es)
Registered Office And
Operational Address:
86 Evington Road
Highfields
Leicester
LE2 IHH
Management Commlttee:
Dave Brazier (Chair)
Kail&sh Bhayani
Victoria Stephenson
Piyush Kotecha
Ervin Picari
Towana Graham
Kenrick White
Secretsry
Kailesh Bhayani
Management Team
Mrs. N Siddiqui Walker
(Project Manager)
IndependeDt Examiners
Celerica Limited
Chartered Certified Accountants
First Floor
The Old Chapel
9 Kempson Road
Leicester
LE2 8AN
Bankers
National Weslminster
PO Box 333
Silbury House
300 Silbury Boulevard
Milton Keynes
MK9 2ZF
Pag8 1
HITS HOMES TRUST LIMtTED
REPORT OF THE MANAGEMENT COTrllkllTTEE
FOR THE YEAR ENDED 31ST MARCH 2025
The trnstees present their report and fmancial statements of the charity for the year entsl
31 March 2025. The trustees have adopted the provisions of the Ststement of RecomnJ¢nded
Practice (SORP) 'Accounting and Reporting by Charities. (FRS102) in preparing the annual
financial statements of the Charity.
The financial statements have been prq)ared in awrdanLY with the accounting policies set
out in the notes to the accoijnts and wmply with the charty governing document, the Charities
Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to d]artties preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland Published in October 2019 (second
edition).
Trustees of the Charit
The directors of the charitable company are also its trustees for the purpose 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 Stephertson
Piyush Kotecha
Ervin Picari
Towana Graham
Kenrick Flhite
Ob"¢ctives and Activities
The principal activity of the charity continues to be:
The pmvision of housing and associated amenities for young persons in Leifftstershire
in neSitOuS circumstances on tenns appropriate to their Mns.
To manage schemes of housing deS1]ed for young persons in Leicestershir¢ in
necessit0$ circumstances.
To provide young persons in Leicestershire in ne4a of housing and ass(Kiated facilities,
advicq assistance and support designed to meet their disabilities and requirements to
live independently.
b)
The trustees have wnsidered the general guidance on public benefit issued by the Charities
Commission and has taken due regard of that guidance. The trustees consider they are
satisfied that the cIwitS activities do provide a wide public benefit.
Page 2
Hrrs HOMES TRUST LIMtTED
REPORT OF THE MANAGEMENT Co1[rTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Achievements and PerfornwAce
Statistics
In 2024125, Hits Homes Trnst Limited Continu to provide temporary self contain
accommtIOn to vuhlerable singl< homeless pe4)ple ag betwe 16 to 25 years ol(L
In 2024125. the project re1ved 150 enquiries for accon]modation. Of thes4 69 Wk7e men and
81 were women.
The thicity and nationality of the referrals were:.
White British 54, Black British 12, Asian British 9. Dual Heritige 4 Other 35, Not Known 36.
The project accommodated 26 pwlv, I I male and 15 fcmale.
The etlmicty and nationality of the indiwduals were:.
White British 12: Black British 2. Dual Heritage l. Asian l British 5, Other 6.
The age:
16 years old- 1. 17 years old - 6. 18 years old- 15, 19 years old- 2" 20 years old- 0. 21
years old - 0. 22 years old- 1; 23 years old - 1. 24 years old - 0. 25 years old - O.
The housing staths of those accommodated at the prOjt were:
Still A¢¢ommodated
14
LCC Housing
Housing Asscciation fiat
Moved to friends I family
Moved to private
Other supported housing
Not Known
26
Financial Review
including reserves
olic
With limitcd resources and difficulties obtaining additional fundin& it has Continu to
be difficult to plan or develop additional services. Thc charity with sound financial
management and the support of the staff team and Managetllent Con]mith mcmbers
have incurred a surplus of £16,687 (2024: £28.769).
The c]wity's unrestricted reserves at the end of the financial year stood at £264,934. Of this
£209.502 has been allocated to various desigt funds leaving £55,432 as free ra$veS.
The free Unrestrict reserves of £55,432 has fall¢n from the previous year and the trustees
are continually seeking for other funding to facilitate reserves to cover approximatsly 6 - 8 months
total ¥ditur¢. The policy is a rolling policy reviewed annually in view of the risks linked with
the properties and th¢ potential le8isl&tive changes that can be implemento1 at any given time.
Page 3
Hfts HOMES TRUST LIMITED
REPORT OF THE MANAGEMENT COMMITTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Plans for Future Periods
The ¢harity plans to continue the activities outlined above in th¢ forthcoming years subject
to tbe continuance of satisfactory funding arrang¢ments. Plans are also being developed to
work with a number of training providets to provide in hous¢ training for service users to
enable them to have a skills base for employment which will lead to long t¢rni gainful
employment.
Structure
ov¢rnance and mana
ement
The organisation is a charitsble company limited by guarantee, without sh8re Capital.
The companys governing document is the Memorandum and Articles of Association
which established the objects and powers of the charitable company.
Jn the event of th¢ company being wound up members are required to contribute an amount
not excttding £1.
The charity has a current Management Committee of 7 members who meet every 6 weeks and
are responsible for the strategic dItIOn and policy of th¢ charity. At present the committee
members are from a variety of professional backwunds relevant to the work of th¢ charity.
A scheme of delegation is in place and day to day responsibility for the provision of
seiCe$ rests with the Project Manager. The Project Manager is also responsible for
ensuring that the ¢harity delivers the SeICeS specified and that key perfornian¢e
indicators are met and also the day to day operational management.
The directors of the company are also charity trustees for the purposes of charity law and
under the Company's Articles known as members of the Management Committee.
Under the requirements of the Memorandum and Articles of Association the members of
the Management Committee are elected annually to serve for a period of one year after which
they must be re-el¢cted at the next Annual 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.
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 ensur¢ that the n¢eds of this
group are appropriatety reflected through the diversity of the trustee board. To enhance
the potential pool of trust¢¢s, the charity seeks to identify young people who have been
homeless and would be willing to berne members and use their own experiences to
assist the charity.
Page 4
TS HOMES TRUST LIMITED
REPORT OF THE MANAGEMENT co1[EE
FOR THE YEAR EIIDED 31ST MARCH 2025 (CONTINUED)
overnance and mana
ement
continued
The more traditional business skills are well represented on the Management Committee
In an effort to maintain a broad mix of skills, members of the Management Conunittee
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 ireMents, indivAduals are approached to offer themselves
for election to the Management Conunittee.
Most trustees are familiar with the practicaI work of the charity as the Chlty has worked
in partnership with them in a variety of fields to enhanc£ the support provision provided
to the young people.
New trustees are invited and encouragoj 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 Management Committee and covers:
l. A tour of the project'5 premises.
2. The obligations of Management Committee membffs.
3. The policies and procedures and other documarts including the Memorandum and
Articles of Association.
4. Resourcing and the current financial position as set out in the latest published accounts.
5. Futwe plans and objectives.
Further infonnation is provided in a pack prepared from various Charity Comrnission
documents and the Charity Commission's website guide 'An Essential Trust,.
Risk Management
The Management Committee 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 established, to mitigate the risks that the
charity faces. External risks to fvnding have been minimised with a strategic plan to allow
diversification of fimding. Internal Lxintrol risks are minimÉsed by the implementation of a
flljancial policy and procedure for authorisation of all transactions within the project.
]¥LKedures are in place to ensure compliance with health and safety of staff, volunteers,
members of the Management Committee, service ers, contractors and visitors to the
project.
Pag8 5
HITS HOIMES TRUST LIMrrED
REPORT OF THE MAIIAGEIWIENT COMMITTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Statement of Management Committees, Responsibilities
The Trustees, who are also directors of the charity are responsible for preparing the Trustees,
Report and financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year.
which give a true and fair view of the state of affairs of the charitable company and of the
incoming resources and application of resources 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"
observe the methods and principles in the Charities SORP 2019 (FRS 102)"
make judgements and estimates that ar¢ reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial 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 financial ststements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended
Practice: Accounting and 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 .
and S1cd on its behalf by:
. Mr D Brazier
Trustee
Page 6
HITS HOMES TRUST LIMITED
(LIMrrED BY GUARANTEE)
INDEPEIYDENT EXAMINERS, REPORT
TO THE TRUSTEES OF HITS HOMES TRUST
FOR THE YEAR ENDED 31 MARCH 2025
We report on the accounts of Hits Homes Trust Limited foT the year ended 3 1st March 2025
which are set out on pages 8 to 16.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the pu4x)ses of company law)
you are responsible for the prepardtion of the accounts in accoTdance with requirements of the
Companies Act 2006 ('the 2006 Act).
Having satisfied ourselves that the accounts of the company are not Tequired to be audited
under Part 16 of the 2006 Act and are eligible for independent examination, w¢ report in respect
of our examination we have followed the Directions given by th¢ Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent EMIner15 Ststement
W¢ have completed our examination. We can confm that no matters have come to our
attention in connection with the examination giving us cause to believe that in any material
respect:
accounting records were not kept in respect of the company as required by section 386
of the ACL or
the aOuntS do not a¢¢ord with those records. or
the accounts do not comply with the accounting requirements of section 396 of the 2006
Act other than any requirement that the accounts give a "tNe and fair view" which is not a
matter ¢onsidered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practice for accounting and reporting by charities
preparing their accounts in accordancc with the Financial Reporting StandaTd applicable
to UK and Republic of Irclaud (FRS 102)
We have no concerns and have come across no other matters in connection witb the examination
to which attention should be dTawn in this report in order to enable a proper understanding of
the accounts to be reached.
CELER]CA LTD
CHARTERED CERT]FIED ACCOUNTANTS
FlllST FLCK)R
THE OLD CHAPEL
9 KEMPSON ROAD
LEICESTER
LE2 8AN
Dated .
181181iS
Page 7
HITS HOMES TRUST LIMITED
STATEMEIYT OF FINANCL4L ACTIVLTIES
FOR THE YEAR ENDED 31 MARCH 2025
(Including Illcome and Expenditure)
2025
2025
Unrestricted Restricted
Funds
Funds
2025
2024
Total
FuDd5
Total
Funds
Note
Income and endowments from:
Donations and legaci¢s
Charitabl¢ activities
208,668
1,250
208,668
1,250
202,272
1,300
Invesknents
TotAI Income and endowments
209,918
209,918
203,572
Expenditure on:
Charitable activities
187,411
187.411
169.413
Otber
5,820
5,820
5,390
Total Expenditsre
193231
193231
174,803
Net income
16,687
16,687
28,769
Transfer between funds
Net movement in funds
16,687
16,687
28,769
Reconciliation of nds.
Total funds brought forward
248,247
248,247
219.478
Total funds carried fOard
264,934
264,934
248247
All figures relate to continuing operations.
There were no recognised gains or losses for the current or previous period other than as stated above.
The movement in funds is due to the net incoming resources for the year.
Page 8
HITS HOMES TRusf LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
Company Number 02912187 (England}
2025
2024
Fiote
FIXED ASSETS
io
309,216
309,216
CURREYE T ASSETS
Debtors & prepayments
Cash at bank and in hand
68,282
141.884
210,166
66,054
131,844
197,898
CREDITORS: Amounts falling due
within one year
12
8,952
14,302
NET CURRENT ASSETS
201,214
183,596
CREDITORS: Amounts falling du¢
after more than one year
13
245.496
244,565
'ET ASSETS
248.247
FUNDS
Unrestricted
Designated
Restri¢ted
16
55,432
209,502
60,604
187,643
16
16
264 934
248
47
The charitable company is entitled to exemplion from audit under Section 477 of the Companies Act
for the year ended 31 Marcb 2025.
The members have not required the charitable company to obtain an audit of ihe financial staternents
for the year ended 31 March 2025 in a¢¢ordan¢e with Section 476 of the Companies Act 2016.
The trustees acknowledge their responsibilities for:
a) ensuring that the Charitable company keeps a¢¢ounting records that comply witb Sections 386
and 387 of th¢ Companies A¢t 2006 and
b) preparing financial statements which give a true and fair view of the stat¢ of the ¢haritsble
company as at the end of the financial year and of its surplus or deficit for ea¢h financial year An
accordance with the requirements of Section5 394 and 395 and whi¢h otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, 50 far as applicable to
charitable company.
These financial ststements have been approved in a¢¢ordance with the special provisions of Part 15
of the Companies Act 2006 relating to small ¢haritsble companies.
Approved by the management Committee on .
d signed on its behalf by:
Mr D BrdzieT
Trus
Page 9
Hrrs HOMES TRUST LIMITED
NOTES TO THE AccouNrs
FOR THE YEAR ENDED 31 MARCH 2025
l Aceountlng Policies
l. Summary of significant accounting policies
Generat iDforniatioD and basis of preparation
Hits Homes TTUSt Limited is a registered charity in England and Wales and also a MpanY
limited by guardntee. In the event of the charity being wound up, the liability in respect of the
guarantee is limited to £1 O per member of the ChaTity. The address of the charitys head
office is given on page l of these financial statements. The nature of the charitys operations
and principal activities detailed on page 2 of these financial statements.
Thc charity constitutes a public benefit entity as defmed by FRS 102. The fmancial statements
hav¢ been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to chaTities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued
in October 2019, the Financial Reporting Standard applicable in the United Kingdom and
Republi¢ of Ireland (FRS 102), the Charities Act 201 I, the Companies Acl 2006 and UK
Generally Accepted Ac¢ounting practice.
The financial statements are prep&Ted on a going concern basis under the historical cost
convention, modified to include ¢ertain items at fair value where considered necessary. The
financial statements are presented in sterling which is the functional currency of the charity
and rounded to the nearest pound.
b Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherancc of the
general objcctives of the charity and which have not been designated for other pOscs.
Designated funds comprise unrestricted funds that have been set &8ide by the trustees for
particular purposes. The aim and use of each desIted fijnd is set out in the notss to the
financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by donors or which have been raised by the charity for particular purposes. Th¢
cost of raising and administering such funds are charged against the specific fund. The aim
and us¢ of ¢ach restricted fund is set out in the notes to the financial statements.
c Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when th¢
charftty is legally entitled to the income after any perforniance of conditions have been met,
the amount can be measured reliably and it is probable that the income will b¢ received.
Page 10
HITS HOMES TRUST LIMtTED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (COF4TINUED)
l Accountlng Policies (Continued)
l. Sllmnry of sigDifieant accounting policies {Continued)
Income recognition (Continued)
For donati0Tr8 to be recognised the chartty will have been notified of the amounts and the
settlement date in writing. If there are conditions attached to the donation and this requires
a level of pffforn]ance before ffltitlement can be obtsined then income is defenrd until
those conditions are fillly met or the fi]Ifibnent of those conditions is within the control of the
charity and it is probable that they will be fvlfllld.
Donated facilities and donatol professi(Ina] services are recognised in income at their fair
Val when their economic ba]efit is probable. it can be measured reliably and the charity
has control over the item. Fair value is detern)in&l on the basis of the value of the gift to
the charity. A corresp(mding amount is reco1 in expenditur
No amount of time is included in the financial s1atements for volunteer time in line with SORP
FRS {102). Further detail is giv in the Trustees Annual Report.
Where practicable, gifts in kind donated for distributAon to the beneficiaries of the Chlty are
included in stock and donations in the financial statements upon receipt. If it is impracticable
to 18sess the fair value at receipt or if the costs to undertake such a valuation outweigh any
bl¢fits then the fair value is recognised as a cornponent of donations when it is distributed
and an equivalent amount recognised as charitable expenditure.
Fixcd assets gifts in kind are recognised when re£eivable are included at fair value. They
are not defeRTed over the life of the &ssct.
For Icgacies, entitleujent is the earlier of the charity being notified of an impending distribution
or the legacy ]ng received. At this point income is recognIs On Occasio legaci&8 will
be notified io the charity however it is not possible to measure the amount expe£ted to be
distributed on these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes inwme earned from fimdraising events and trading
activities to raise fijnds for the charity. Income is received in exchange for supplying goods
and servi(xs in order to raise funds and is recognised when entitl&nent has ocwrred.
Investment income is earned through holding assets for investment purposes such as interest.
Interest income is recognised wing the effective interest method. Any dividend and rent
income is recognised &s the charitys right to receive paym¢nt is established.
Pa98 11
Hfrs HOMES TRUST LIMrrED
NOTES TO THE ACCOus
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
l Accounting Policies (Continued)
l. Summary of slgnfificant accounting policies (Continued)
d Expenditure recognitfton
All expenditure is accounted for on an accruals basis and has been classified undeT
headings that aggregats all costs related to the category. Expenditure is recogDis¢d where
.41
there is a legal or Constructive obligation to make payments 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 llds
Expenditure on charitsble activities
Other expenditure represents those items not falling into the above categories.
I0Verable VAT is charged as aD expense against the activity for which the expenditure
Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent
charitable activities and include oifice costs, governance costs and athninistrative costs.
They are incurred directly in support of expenditure on the objects of the charity.
Fundraising costs are those incurred in seeking voluntary contributions and do not include
the costs of disseminating infornwtion in support of tb¢ charitable activities.
The analysis of these costs is in included in note 7.
Tanglble red assets
No depreciation is provided on tangible fixed assets. Assets are written off at the time of
purchase. This is contrary to the requirements of FRS 102. The trustses consider that
these assets will have a small residual value at the end of each fmancial year.
g Debtors and creditors reeefvable I payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year
are recorded at transaction price. Any losses arising from impairnlent are reCOlSed in
expenditure.
h Provlsions
Provisions are recognised when the charity has an obligation at the balance sheet date as
a TesuIt of a past evenL It is probable that an oufflow of economic benefits will be required
in settlement and the amount can be reliably estinthted.
I Ikases
Rentals payable or receivable under operating leases are ¢harged to the SOFA on a
straight line basis ov¢r the period of the lease.
Page 12
H113 HOMES TRUST LIML tTED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
Accounting Policies {Continued)
Sumllry of significant Ydccounting policies (Continued)
j TaLqtion
No provision has been made for taxation as th¢ charitys charitable status renders it exempt
from UK direKt taxation.
k Going ¢oncern
The financial ststements have been prepared on a going o)ncem basis as the trst¢eS
bejieve that no Materi uncertainties exist. The trustees have considered the level of
fin)ds held and the exed level of income and expenditure for 12 months from
authorising these fiwancial statements. The budgeted income and expenditure is
sufficient with the level of reserves for the charity to be able to contimE L8 a going
2. Net Income for the year
2025
2024
This is stated aftcr d]arging:
Depreciation
Independent Examiners Fees
1,650
1,650
Donations and legacies
2025
2024
Gffleral
Charitsble activities
2025
2024
Rental, service charge
208,668
202,272
Investments
2025
2024
Bank interest received
1250
1,300
TotsI Expenditure
Stsff
n Overheads
2025
2024
Charitable activities
Evington Road
Support Costs
108,593 108.593
17,172
78,818
125,765 187,411
5,820
5,820
131,585 193,231
103,498
65,915
169.413
5,390
174,803
61,646
61,646
Governance costs
61,646
Page 13
Hfrs HOMES TRUST LIMED
NOTES TO THE ACCO[s
FOR THE YEAR ENDED 31 MARCH 2025 (CONTllYUED)
7 Support Costs
2025
2024
Salaries
Depreciation
Communicalions
Office costs
Management salaries
41J90
26,356
1,725
15,447
20256
78,818
1.587
16.664
21208
65.915
8 Governance Costs
2025
2024
Independent examiners fee
B(K)kkeeping costs
Proftssional fees
1,650
4,170
1.650
3,740
5,820
5,390
9 Wages and Salaries
2025
2024
Total anoluments
61.646
47,664
Average number of employees
All stsff are employed by the charty. No employees earned more th8n £60,000 p.a.
10 TaDgible Fixed Assets
Fred)old
Fumiture &
Total
Cost:
As l April 2024
Additions
As at 31 March 2025
309,216
52,067
361,283
52.067
361,283
Depreclatlon:
As l April 2024
Charge for the year
As at 31 Marcb 2025
52.067
52,067
51067
52,067
Net Book Value:
As at 31 March 2025
309,216
309,216
As at 31 Mah 2024
309,216
309216
Page 14
HITS HOMES TRUST LIMITED
NOTES TO THE ACCOUWfS
FOR THE YEAR EM)ED 31 MARCH 2025 (CONTINUED)
11 Debtors
2025
24
Rfflts Teceivable
Sundry debtors & PTepaymthts
11,012
57,270
68,282
12,179
53,875
66,054
12 Credltors: Amounts fallfing due wlthfin one year
2025
2024
Accruals
Charity Bank Loan
2,952
6,000
8.952
3,145
11,157
14,302
13 Creditors: Amounts falllng after more than one year
202
2024
Charity Bank Loan
245,496
244,565
14 Loans
An analysts of the matsrlty of loans ks glven below:
2025
2024
Am4)unls falling due within one year:
Charity Bank Loan
6.000
5,000
Amounts falling due between one and two years:
Charity Bank Loan
7,000
6,000
Amounts falling due I two and five years:
Charity Bank Loan
27,000
24,000
Amounts falling in more than five years..
Charity Bank Loan
211,496
220.722
Total
251,496
255,722
15 Secured Debts
The loans and mortgages are secured by the two properties oThned by the charity.
Page 15
HtTS HOMES TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR EMIED 31 MARCH 2025 (CONTINUED)
16 Unreslrleted Fumds
Movement kn Reserv
InMin
oin
CloslD
Balan¢e
Balanee
Transfers
Unre$trieled:
General
Capital Fund
60,604
130.417
1.250
(136.839)
1250
(1250)
55.432
60.604
131.667
(136.839)
55,432
Unrestricted Designated:
Capitsl Fund
Maintenance Futtd
Property Fwid
50,000
84,149
53.494
248247
50,000
106.008
53,494
264.934
78.251
(56,392)
209,918
(193231)
Witb the acquisition of 86-88 Evington Road, the fimds have been reclassified as follows:
* The Capital is a fimd yielding interest on an advancement at £1.300 per annum.
The Maintenance Fund reflects the portion of the income from Housing Beuefit and tbe
designated expenditure relating to the maintenance of the properties. This amount is
reviewed periodically for reasonknleness.
* The Propety Fund is the equity on the acquisition 86-88 Evington Road.
17 Trustees
No emoluments or expenses were paid to any Trustee dw7ng the year.
18 Share Capltal
The company is limited by guarantee and therefore has no share capital. The members have
agr¢ed to contribute to the assets in the event of winding up to an aniount not exceeding £1.
Page 16
HITS HOMES TRusf LIMITED
JNCOME AIYD EXPENDITURE ACCOUIYT
FOR THE YEAR ENDED 31 MARCH 2025
EVINGTON REVENUE
2025
2024
Grallt.. Supporting People
Administration Charge
Salaries
Travel
Training
Building EXpSeS
Light & Heat
Water Rates
Equipment
61.646
47,664
35
576
1.123
1,411
229
636
4,592
1,725
1,995
260
1,634
295
1.253
3,864
1,587
1,715
Telephone
Stationery, Postage & Publications
Cleaning Materials
2,210
4.372
Hospitality & Activities
Bookkeeping Fees
Reporting A(tountant's Clge5
Advertising
Bank Charg&8
Professional fees
4,170
1.650
3,740
1,650
409
408
82a74
68,477
Net {defieit) for the Year (see page 21)
374
68,477
This page d5 not forn) part of the statut(ry fmancial statements
Page 17
HOMES TRUST LIMITED
INCOME AND EXPEIYDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
EVINGTON RENTS AND SERVICE CHARGE
restriottd
Core
M¥4intenaJJce
2025
Total
2024
Tolal
Fund
Housing Benefit re 82184 Evington Road
Housing Benefit re 88 Evington Road
Leicester City Council Support charges
67,990
62.428
40,794
37,457
108,784
99,884
107,320
94,952
130,418
78351
20&668
202,272
ExpenditLWe:
Re 82184 Evington Road
Building Maintenance
Cjeaning & Gardening
Light & Heat
Rent- Imidland Heart)
Miscellaneous
Furniture & Equipment
22.536
2,457
43
22,536
2,457
43
31.913
20,266
2,146
45
30,733
31,913
3,072
56,262
31,913
25,680
57,593
Re 88 Evington Road
Buildimg Maintenance
Cleaning & Gardening
Ligbt & Heat
Loan interest
Misc¢llaneous
Furniture & Equipment
23,009
2.984
95
23,009
2,984
95
20,288
1,055
3,569
51,000
20,152
2,832
20,288
20,538
1,055
3,569
30,712
3.610
47236
20,288
52,201
56J92
108,593
103,498
Net IDcome for the Year (se¢ page 21)
78
17
21,859
100 07S
9&774
This page does not forni part of the statutory fmancial ststements
Page 18
HITS HOMES TRUST LIMITED
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR EM)ED 31 MARCH 2025
25
2024
Income..
Contributions from Capital Fund
1.250
1250
1,300
iaoo
Expenditure:
Tenants Activities
Moving Packs for Flats
Tenant Fuel allowaDces
2,264
1.670
1.158
2264
2,828
Net (D¢ficit) for the Year (see page 21)
1,014
lJ28
This page does not forni part of the statutory financial statements
Pag8 19
HITS HOMES TRUST LIMITED
INCOME AND EXPENDITURE ACCOI]NT
FOR THE YEAR EIYDED 31 MARCH 2025
2025
2024
Income:
Gross Interest Received
1,250
1,300
Expenditure:
Contribution to c]]ty Capital: Residents Development
1250
1,300
Net Income for the Year (see page 20)
This page does not forni part of the statutory fla] statements
Page 20
HITS HOMES TRUST LIMITED
SIJMMARY OF FUNDS
FOR THE YEAR EIYDED 31 MARCH 2025
2025
2024
EVINGTON REVENUE
(82,374)
(68,477)
EVNGTON RENTS AND SERVICE CHARGE SURPLUS
100,075
98,774
CHARITY CAPITAL
(1.014)
(1.528)
SURPLUS FOR THE YEAR
16,687
28.769
Less Depreciation for the year
16,687
28,769
FUNDS BROUGHT FORWARD
248,247
219,478
FUNDS CARRIED FORWARD
264,934
248247
ALLOCATED BETWEEN:
UNRESTRtCTED FUNDS
DESIGNATED MAIFifENANCE FLfND
DESIGNATED PROPERTY FUND
DESIGNATED CAPITAL FUND
55.432
106,008
53,494
50.000
60.604
84,149
53,494
50,000
264,934
24&247
This page does not forni part of the stattrtory fjnancial aterneThts
Pag8 21
Registered Charity No'.1049935
Registered Company No: 2912187
(England and Wales)
HITS HOMES TRUST LIMITED
(A Company limited by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
HITS HOMES TRUST LIMITED
llEx TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 IWICH 2025
Page
Clwity Reference and Administrative Details
Report of the Management Committee
Independent Examiners Rew)rt
ststement of Financial Activities
Balance Sheet
Notes to the Accounts
10-16
Income & Expendire Account - 31 March 2025
EVINGTON REVENUE
17
Income & Expenditure Account - 31 MaTch 2025
EVTrIGTON
18
Incorne & Expendithre Account - 31 March 2025
CHARrrY CAPITAL
19
Income & Expenditure Account - 31 March 2025
CAPITAL FUND
20
Summary of Funds
21
HITS HOMES TRUST LIMITED
CHARrrY REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31ST MARCH 2025
Charlty Name:
Hits Homes Tnlst Limited
(a company limited by guarantee without share PItal)
Charity Registration Iyumber:
1049935
Company Registration Iyumber: 2912187 (England & Wa]es)
Registered Office And
Operational Address:
86 Evington Road
Highfields
Leicester
LE2 IHH
Management Commlttee:
Dave Brazier (Chair)
Kail&sh Bhayani
Victoria Stephenson
Piyush Kotecha
Ervin Picari
Towana Graham
Kenrick White
Secretsry
Kailesh Bhayani
Management Team
Mrs. N Siddiqui Walker
(Project Manager)
IndependeDt Examiners
Celerica Limited
Chartered Certified Accountants
First Floor
The Old Chapel
9 Kempson Road
Leicester
LE2 8AN
Bankers
National Weslminster
PO Box 333
Silbury House
300 Silbury Boulevard
Milton Keynes
MK9 2ZF
Pag8 1
HITS HOMES TRUST LIMtTED
REPORT OF THE MANAGEMENT COTrllkllTTEE
FOR THE YEAR ENDED 31ST MARCH 2025
The trnstees present their report and fmancial statements of the charity for the year entsl
31 March 2025. The trustees have adopted the provisions of the Ststement of RecomnJ¢nded
Practice (SORP) 'Accounting and Reporting by Charities. (FRS102) in preparing the annual
financial statements of the Charity.
The financial statements have been prq)ared in awrdanLY with the accounting policies set
out in the notes to the accoijnts and wmply with the charty governing document, the Charities
Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to d]artties preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland Published in October 2019 (second
edition).
Trustees of the Charit
The directors of the charitable company are also its trustees for the purpose 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 Stephertson
Piyush Kotecha
Ervin Picari
Towana Graham
Kenrick Flhite
Ob"¢ctives and Activities
The principal activity of the charity continues to be:
The pmvision of housing and associated amenities for young persons in Leifftstershire
in neSitOuS circumstances on tenns appropriate to their Mns.
To manage schemes of housing deS1]ed for young persons in Leicestershir¢ in
necessit0$ circumstances.
To provide young persons in Leicestershire in ne4a of housing and ass(Kiated facilities,
advicq assistance and support designed to meet their disabilities and requirements to
live independently.
b)
The trustees have wnsidered the general guidance on public benefit issued by the Charities
Commission and has taken due regard of that guidance. The trustees consider they are
satisfied that the cIwitS activities do provide a wide public benefit.
Page 2
Hrrs HOMES TRUST LIMtTED
REPORT OF THE MANAGEMENT Co1[rTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Achievements and PerfornwAce
Statistics
In 2024125, Hits Homes Trnst Limited Continu to provide temporary self contain
accommtIOn to vuhlerable singl< homeless pe4)ple ag betwe 16 to 25 years ol(L
In 2024125. the project re1ved 150 enquiries for accon]modation. Of thes4 69 Wk7e men and
81 were women.
The thicity and nationality of the referrals were:.
White British 54, Black British 12, Asian British 9. Dual Heritige 4 Other 35, Not Known 36.
The project accommodated 26 pwlv, I I male and 15 fcmale.
The etlmicty and nationality of the indiwduals were:.
White British 12: Black British 2. Dual Heritage l. Asian l British 5, Other 6.
The age:
16 years old- 1. 17 years old - 6. 18 years old- 15, 19 years old- 2" 20 years old- 0. 21
years old - 0. 22 years old- 1; 23 years old - 1. 24 years old - 0. 25 years old - O.
The housing staths of those accommodated at the prOjt were:
Still A¢¢ommodated
14
LCC Housing
Housing Asscciation fiat
Moved to friends I family
Moved to private
Other supported housing
Not Known
26
Financial Review
including reserves
olic
With limitcd resources and difficulties obtaining additional fundin& it has Continu to
be difficult to plan or develop additional services. Thc charity with sound financial
management and the support of the staff team and Managetllent Con]mith mcmbers
have incurred a surplus of £16,687 (2024: £28.769).
The c]wity's unrestricted reserves at the end of the financial year stood at £264,934. Of this
£209.502 has been allocated to various desigt funds leaving £55,432 as free ra$veS.
The free Unrestrict reserves of £55,432 has fall¢n from the previous year and the trustees
are continually seeking for other funding to facilitate reserves to cover approximatsly 6 - 8 months
total ¥ditur¢. The policy is a rolling policy reviewed annually in view of the risks linked with
the properties and th¢ potential le8isl&tive changes that can be implemento1 at any given time.
Page 3
Hfts HOMES TRUST LIMITED
REPORT OF THE MANAGEMENT COMMITTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Plans for Future Periods
The ¢harity plans to continue the activities outlined above in th¢ forthcoming years subject
to tbe continuance of satisfactory funding arrang¢ments. Plans are also being developed to
work with a number of training providets to provide in hous¢ training for service users to
enable them to have a skills base for employment which will lead to long t¢rni gainful
employment.
Structure
ov¢rnance and mana
ement
The organisation is a charitsble company limited by guarantee, without sh8re Capital.
The companys governing document is the Memorandum and Articles of Association
which established the objects and powers of the charitable company.
Jn the event of th¢ company being wound up members are required to contribute an amount
not excttding £1.
The charity has a current Management Committee of 7 members who meet every 6 weeks and
are responsible for the strategic dItIOn and policy of th¢ charity. At present the committee
members are from a variety of professional backwunds relevant to the work of th¢ charity.
A scheme of delegation is in place and day to day responsibility for the provision of
seiCe$ rests with the Project Manager. The Project Manager is also responsible for
ensuring that the ¢harity delivers the SeICeS specified and that key perfornian¢e
indicators are met and also the day to day operational management.
The directors of the company are also charity trustees for the purposes of charity law and
under the Company's Articles known as members of the Management Committee.
Under the requirements of the Memorandum and Articles of Association the members of
the Management Committee are elected annually to serve for a period of one year after which
they must be re-el¢cted at the next Annual 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.
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 ensur¢ that the n¢eds of this
group are appropriatety reflected through the diversity of the trustee board. To enhance
the potential pool of trust¢¢s, the charity seeks to identify young people who have been
homeless and would be willing to berne members and use their own experiences to
assist the charity.
Page 4
TS HOMES TRUST LIMITED
REPORT OF THE MANAGEMENT co1[EE
FOR THE YEAR EIIDED 31ST MARCH 2025 (CONTINUED)
overnance and mana
ement
continued
The more traditional business skills are well represented on the Management Committee
In an effort to maintain a broad mix of skills, members of the Management Conunittee
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 ireMents, indivAduals are approached to offer themselves
for election to the Management Conunittee.
Most trustees are familiar with the practicaI work of the charity as the Chlty has worked
in partnership with them in a variety of fields to enhanc£ the support provision provided
to the young people.
New trustees are invited and encouragoj 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 Management Committee and covers:
l. A tour of the project'5 premises.
2. The obligations of Management Committee membffs.
3. The policies and procedures and other documarts including the Memorandum and
Articles of Association.
4. Resourcing and the current financial position as set out in the latest published accounts.
5. Futwe plans and objectives.
Further infonnation is provided in a pack prepared from various Charity Comrnission
documents and the Charity Commission's website guide 'An Essential Trust,.
Risk Management
The Management Committee 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 established, to mitigate the risks that the
charity faces. External risks to fvnding have been minimised with a strategic plan to allow
diversification of fimding. Internal Lxintrol risks are minimÉsed by the implementation of a
flljancial policy and procedure for authorisation of all transactions within the project.
]¥LKedures are in place to ensure compliance with health and safety of staff, volunteers,
members of the Management Committee, service ers, contractors and visitors to the
project.
Pag8 5
HITS HOIMES TRUST LIMrrED
REPORT OF THE MAIIAGEIWIENT COMMITTEE
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Statement of Management Committees, Responsibilities
The Trustees, who are also directors of the charity are responsible for preparing the Trustees,
Report and financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year.
which give a true and fair view of the state of affairs of the charitable company and of the
incoming resources and application of resources 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"
observe the methods and principles in the Charities SORP 2019 (FRS 102)"
make judgements and estimates that ar¢ reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial 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 financial ststements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended
Practice: Accounting and 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 .
and S1cd on its behalf by:
. Mr D Brazier
Trustee
Page 6
HITS HOMES TRUST LIMITED
(LIMrrED BY GUARANTEE)
INDEPEIYDENT EXAMINERS, REPORT
TO THE TRUSTEES OF HITS HOMES TRUST
FOR THE YEAR ENDED 31 MARCH 2025
We report on the accounts of Hits Homes Trust Limited foT the year ended 3 1st March 2025
which are set out on pages 8 to 16.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the pu4x)ses of company law)
you are responsible for the prepardtion of the accounts in accoTdance with requirements of the
Companies Act 2006 ('the 2006 Act).
Having satisfied ourselves that the accounts of the company are not Tequired to be audited
under Part 16 of the 2006 Act and are eligible for independent examination, w¢ report in respect
of our examination we have followed the Directions given by th¢ Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent EMIner15 Ststement
W¢ have completed our examination. We can confm that no matters have come to our
attention in connection with the examination giving us cause to believe that in any material
respect:
accounting records were not kept in respect of the company as required by section 386
of the ACL or
the aOuntS do not a¢¢ord with those records. or
the accounts do not comply with the accounting requirements of section 396 of the 2006
Act other than any requirement that the accounts give a "tNe and fair view" which is not a
matter ¢onsidered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practice for accounting and reporting by charities
preparing their accounts in accordancc with the Financial Reporting StandaTd applicable
to UK and Republic of Irclaud (FRS 102)
We have no concerns and have come across no other matters in connection witb the examination
to which attention should be dTawn in this report in order to enable a proper understanding of
the accounts to be reached.
CELER]CA LTD
CHARTERED CERT]FIED ACCOUNTANTS
FlllST FLCK)R
THE OLD CHAPEL
9 KEMPSON ROAD
LEICESTER
LE2 8AN
Dated .
181181iS
Page 7
HITS HOMES TRUST LIMITED
STATEMEIYT OF FINANCL4L ACTIVLTIES
FOR THE YEAR ENDED 31 MARCH 2025
(Including Illcome and Expenditure)
2025
2025
Unrestricted Restricted
Funds
Funds
2025
2024
Total
FuDd5
Total
Funds
Note
Income and endowments from:
Donations and legaci¢s
Charitabl¢ activities
208,668
1,250
208,668
1,250
202,272
1,300
Invesknents
TotAI Income and endowments
209,918
209,918
203,572
Expenditure on:
Charitable activities
187,411
187.411
169.413
Otber
5,820
5,820
5,390
Total Expenditsre
193231
193231
174,803
Net income
16,687
16,687
28,769
Transfer between funds
Net movement in funds
16,687
16,687
28,769
Reconciliation of nds.
Total funds brought forward
248,247
248,247
219.478
Total funds carried fOard
264,934
264,934
248247
All figures relate to continuing operations.
There were no recognised gains or losses for the current or previous period other than as stated above.
The movement in funds is due to the net incoming resources for the year.
Page 8
HITS HOMES TRusf LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
Company Number 02912187 (England}
2025
2024
Fiote
FIXED ASSETS
io
309,216
309,216
CURREYE T ASSETS
Debtors & prepayments
Cash at bank and in hand
68,282
141.884
210,166
66,054
131,844
197,898
CREDITORS: Amounts falling due
within one year
12
8,952
14,302
NET CURRENT ASSETS
201,214
183,596
CREDITORS: Amounts falling du¢
after more than one year
13
245.496
244,565
'ET ASSETS
248.247
FUNDS
Unrestricted
Designated
Restri¢ted
16
55,432
209,502
60,604
187,643
16
16
264 934
248
47
The charitable company is entitled to exemplion from audit under Section 477 of the Companies Act
for the year ended 31 Marcb 2025.
The members have not required the charitable company to obtain an audit of ihe financial staternents
for the year ended 31 March 2025 in a¢¢ordan¢e with Section 476 of the Companies Act 2016.
The trustees acknowledge their responsibilities for:
a) ensuring that the Charitable company keeps a¢¢ounting records that comply witb Sections 386
and 387 of th¢ Companies A¢t 2006 and
b) preparing financial statements which give a true and fair view of the stat¢ of the ¢haritsble
company as at the end of the financial year and of its surplus or deficit for ea¢h financial year An
accordance with the requirements of Section5 394 and 395 and whi¢h otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, 50 far as applicable to
charitable company.
These financial ststements have been approved in a¢¢ordance with the special provisions of Part 15
of the Companies Act 2006 relating to small ¢haritsble companies.
Approved by the management Committee on .
d signed on its behalf by:
Mr D BrdzieT
Trus
Page 9
Hrrs HOMES TRUST LIMITED
NOTES TO THE AccouNrs
FOR THE YEAR ENDED 31 MARCH 2025
l Aceountlng Policies
l. Summary of significant accounting policies
Generat iDforniatioD and basis of preparation
Hits Homes TTUSt Limited is a registered charity in England and Wales and also a MpanY
limited by guardntee. In the event of the charity being wound up, the liability in respect of the
guarantee is limited to £1 O per member of the ChaTity. The address of the charitys head
office is given on page l of these financial statements. The nature of the charitys operations
and principal activities detailed on page 2 of these financial statements.
Thc charity constitutes a public benefit entity as defmed by FRS 102. The fmancial statements
hav¢ been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to chaTities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued
in October 2019, the Financial Reporting Standard applicable in the United Kingdom and
Republi¢ of Ireland (FRS 102), the Charities Act 201 I, the Companies Acl 2006 and UK
Generally Accepted Ac¢ounting practice.
The financial statements are prep&Ted on a going concern basis under the historical cost
convention, modified to include ¢ertain items at fair value where considered necessary. The
financial statements are presented in sterling which is the functional currency of the charity
and rounded to the nearest pound.
b Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherancc of the
general objcctives of the charity and which have not been designated for other pOscs.
Designated funds comprise unrestricted funds that have been set &8ide by the trustees for
particular purposes. The aim and use of each desIted fijnd is set out in the notss to the
financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by donors or which have been raised by the charity for particular purposes. Th¢
cost of raising and administering such funds are charged against the specific fund. The aim
and us¢ of ¢ach restricted fund is set out in the notes to the financial statements.
c Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when th¢
charftty is legally entitled to the income after any perforniance of conditions have been met,
the amount can be measured reliably and it is probable that the income will b¢ received.
Page 10
HITS HOMES TRUST LIMtTED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (COF4TINUED)
l Accountlng Policies (Continued)
l. Sllmnry of sigDifieant accounting policies {Continued)
Income recognition (Continued)
For donati0Tr8 to be recognised the chartty will have been notified of the amounts and the
settlement date in writing. If there are conditions attached to the donation and this requires
a level of pffforn]ance before ffltitlement can be obtsined then income is defenrd until
those conditions are fillly met or the fi]Ifibnent of those conditions is within the control of the
charity and it is probable that they will be fvlfllld.
Donated facilities and donatol professi(Ina] services are recognised in income at their fair
Val when their economic ba]efit is probable. it can be measured reliably and the charity
has control over the item. Fair value is detern)in&l on the basis of the value of the gift to
the charity. A corresp(mding amount is reco1 in expenditur
No amount of time is included in the financial s1atements for volunteer time in line with SORP
FRS {102). Further detail is giv in the Trustees Annual Report.
Where practicable, gifts in kind donated for distributAon to the beneficiaries of the Chlty are
included in stock and donations in the financial statements upon receipt. If it is impracticable
to 18sess the fair value at receipt or if the costs to undertake such a valuation outweigh any
bl¢fits then the fair value is recognised as a cornponent of donations when it is distributed
and an equivalent amount recognised as charitable expenditure.
Fixcd assets gifts in kind are recognised when re£eivable are included at fair value. They
are not defeRTed over the life of the &ssct.
For Icgacies, entitleujent is the earlier of the charity being notified of an impending distribution
or the legacy ]ng received. At this point income is recognIs On Occasio legaci&8 will
be notified io the charity however it is not possible to measure the amount expe£ted to be
distributed on these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes inwme earned from fimdraising events and trading
activities to raise fijnds for the charity. Income is received in exchange for supplying goods
and servi(xs in order to raise funds and is recognised when entitl&nent has ocwrred.
Investment income is earned through holding assets for investment purposes such as interest.
Interest income is recognised wing the effective interest method. Any dividend and rent
income is recognised &s the charitys right to receive paym¢nt is established.
Pa98 11
Hfrs HOMES TRUST LIMrrED
NOTES TO THE ACCOus
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
l Accounting Policies (Continued)
l. Summary of slgnfificant accounting policies (Continued)
d Expenditure recognitfton
All expenditure is accounted for on an accruals basis and has been classified undeT
headings that aggregats all costs related to the category. Expenditure is recogDis¢d where
.41
there is a legal or Constructive obligation to make payments 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 llds
Expenditure on charitsble activities
Other expenditure represents those items not falling into the above categories.
I0Verable VAT is charged as aD expense against the activity for which the expenditure
Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent
charitable activities and include oifice costs, governance costs and athninistrative costs.
They are incurred directly in support of expenditure on the objects of the charity.
Fundraising costs are those incurred in seeking voluntary contributions and do not include
the costs of disseminating infornwtion in support of tb¢ charitable activities.
The analysis of these costs is in included in note 7.
Tanglble red assets
No depreciation is provided on tangible fixed assets. Assets are written off at the time of
purchase. This is contrary to the requirements of FRS 102. The trustses consider that
these assets will have a small residual value at the end of each fmancial year.
g Debtors and creditors reeefvable I payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year
are recorded at transaction price. Any losses arising from impairnlent are reCOlSed in
expenditure.
h Provlsions
Provisions are recognised when the charity has an obligation at the balance sheet date as
a TesuIt of a past evenL It is probable that an oufflow of economic benefits will be required
in settlement and the amount can be reliably estinthted.
I Ikases
Rentals payable or receivable under operating leases are ¢harged to the SOFA on a
straight line basis ov¢r the period of the lease.
Page 12
H113 HOMES TRUST LIML tTED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
Accounting Policies {Continued)
Sumllry of significant Ydccounting policies (Continued)
j TaLqtion
No provision has been made for taxation as th¢ charitys charitable status renders it exempt
from UK direKt taxation.
k Going ¢oncern
The financial ststements have been prepared on a going o)ncem basis as the trst¢eS
bejieve that no Materi uncertainties exist. The trustees have considered the level of
fin)ds held and the exed level of income and expenditure for 12 months from
authorising these fiwancial statements. The budgeted income and expenditure is
sufficient with the level of reserves for the charity to be able to contimE L8 a going
2. Net Income for the year
2025
2024
This is stated aftcr d]arging:
Depreciation
Independent Examiners Fees
1,650
1,650
Donations and legacies
2025
2024
Gffleral
Charitsble activities
2025
2024
Rental, service charge
208,668
202,272
Investments
2025
2024
Bank interest received
1250
1,300
TotsI Expenditure
Stsff
n Overheads
2025
2024
Charitable activities
Evington Road
Support Costs
108,593 108.593
17,172
78,818
125,765 187,411
5,820
5,820
131,585 193,231
103,498
65,915
169.413
5,390
174,803
61,646
61,646
Governance costs
61,646
Page 13
Hfrs HOMES TRUST LIMED
NOTES TO THE ACCO[s
FOR THE YEAR ENDED 31 MARCH 2025 (CONTllYUED)
7 Support Costs
2025
2024
Salaries
Depreciation
Communicalions
Office costs
Management salaries
41J90
26,356
1,725
15,447
20256
78,818
1.587
16.664
21208
65.915
8 Governance Costs
2025
2024
Independent examiners fee
B(K)kkeeping costs
Proftssional fees
1,650
4,170
1.650
3,740
5,820
5,390
9 Wages and Salaries
2025
2024
Total anoluments
61.646
47,664
Average number of employees
All stsff are employed by the charty. No employees earned more th8n £60,000 p.a.
10 TaDgible Fixed Assets
Fred)old
Fumiture &
Total
Cost:
As l April 2024
Additions
As at 31 March 2025
309,216
52,067
361,283
52.067
361,283
Depreclatlon:
As l April 2024
Charge for the year
As at 31 Marcb 2025
52.067
52,067
51067
52,067
Net Book Value:
As at 31 March 2025
309,216
309,216
As at 31 Mah 2024
309,216
309216
Page 14
HITS HOMES TRUST LIMITED
NOTES TO THE ACCOUWfS
FOR THE YEAR EM)ED 31 MARCH 2025 (CONTINUED)
11 Debtors
2025
24
Rfflts Teceivable
Sundry debtors & PTepaymthts
11,012
57,270
68,282
12,179
53,875
66,054
12 Credltors: Amounts fallfing due wlthfin one year
2025
2024
Accruals
Charity Bank Loan
2,952
6,000
8.952
3,145
11,157
14,302
13 Creditors: Amounts falllng after more than one year
202
2024
Charity Bank Loan
245,496
244,565
14 Loans
An analysts of the matsrlty of loans ks glven below:
2025
2024
Am4)unls falling due within one year:
Charity Bank Loan
6.000
5,000
Amounts falling due between one and two years:
Charity Bank Loan
7,000
6,000
Amounts falling due I two and five years:
Charity Bank Loan
27,000
24,000
Amounts falling in more than five years..
Charity Bank Loan
211,496
220.722
Total
251,496
255,722
15 Secured Debts
The loans and mortgages are secured by the two properties oThned by the charity.
Page 15
HtTS HOMES TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR EMIED 31 MARCH 2025 (CONTINUED)
16 Unreslrleted Fumds
Movement kn Reserv
InMin
oin
CloslD
Balan¢e
Balanee
Transfers
Unre$trieled:
General
Capital Fund
60,604
130.417
1.250
(136.839)
1250
(1250)
55.432
60.604
131.667
(136.839)
55,432
Unrestricted Designated:
Capitsl Fund
Maintenance Futtd
Property Fwid
50,000
84,149
53.494
248247
50,000
106.008
53,494
264.934
78.251
(56,392)
209,918
(193231)
Witb the acquisition of 86-88 Evington Road, the fimds have been reclassified as follows:
* The Capital is a fimd yielding interest on an advancement at £1.300 per annum.
The Maintenance Fund reflects the portion of the income from Housing Beuefit and tbe
designated expenditure relating to the maintenance of the properties. This amount is
reviewed periodically for reasonknleness.
* The Propety Fund is the equity on the acquisition 86-88 Evington Road.
17 Trustees
No emoluments or expenses were paid to any Trustee dw7ng the year.
18 Share Capltal
The company is limited by guarantee and therefore has no share capital. The members have
agr¢ed to contribute to the assets in the event of winding up to an aniount not exceeding £1.
Page 16
HITS HOMES TRusf LIMITED
JNCOME AIYD EXPENDITURE ACCOUIYT
FOR THE YEAR ENDED 31 MARCH 2025
EVINGTON REVENUE
2025
2024
Grallt.. Supporting People
Administration Charge
Salaries
Travel
Training
Building EXpSeS
Light & Heat
Water Rates
Equipment
61.646
47,664
35
576
1.123
1,411
229
636
4,592
1,725
1,995
260
1,634
295
1.253
3,864
1,587
1,715
Telephone
Stationery, Postage & Publications
Cleaning Materials
2,210
4.372
Hospitality & Activities
Bookkeeping Fees
Reporting A(tountant's Clge5
Advertising
Bank Charg&8
Professional fees
4,170
1.650
3,740
1,650
409
408
82a74
68,477
Net {defieit) for the Year (see page 21)
374
68,477
This page d5 not forn) part of the statut(ry fmancial statements
Page 17
HOMES TRUST LIMITED
INCOME AND EXPEIYDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
EVINGTON RENTS AND SERVICE CHARGE
restriottd
Core
M¥4intenaJJce
2025
Total
2024
Tolal
Fund
Housing Benefit re 82184 Evington Road
Housing Benefit re 88 Evington Road
Leicester City Council Support charges
67,990
62.428
40,794
37,457
108,784
99,884
107,320
94,952
130,418
78351
20&668
202,272
ExpenditLWe:
Re 82184 Evington Road
Building Maintenance
Cjeaning & Gardening
Light & Heat
Rent- Imidland Heart)
Miscellaneous
Furniture & Equipment
22.536
2,457
43
22,536
2,457
43
31.913
20,266
2,146
45
30,733
31,913
3,072
56,262
31,913
25,680
57,593
Re 88 Evington Road
Buildimg Maintenance
Cleaning & Gardening
Ligbt & Heat
Loan interest
Misc¢llaneous
Furniture & Equipment
23,009
2.984
95
23,009
2,984
95
20,288
1,055
3,569
51,000
20,152
2,832
20,288
20,538
1,055
3,569
30,712
3.610
47236
20,288
52,201
56J92
108,593
103,498
Net IDcome for the Year (se¢ page 21)
78
17
21,859
100 07S
9&774
This page does not forni part of the statutory fmancial ststements
Page 18
HITS HOMES TRUST LIMITED
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR EM)ED 31 MARCH 2025
25
2024
Income..
Contributions from Capital Fund
1.250
1250
1,300
iaoo
Expenditure:
Tenants Activities
Moving Packs for Flats
Tenant Fuel allowaDces
2,264
1.670
1.158
2264
2,828
Net (D¢ficit) for the Year (see page 21)
1,014
lJ28
This page does not forni part of the statutory financial statements
Pag8 19
HITS HOMES TRUST LIMITED
INCOME AND EXPENDITURE ACCOI]NT
FOR THE YEAR EIYDED 31 MARCH 2025
2025
2024
Income:
Gross Interest Received
1,250
1,300
Expenditure:
Contribution to c]]ty Capital: Residents Development
1250
1,300
Net Income for the Year (see page 20)
This page does not forni part of the statutory fla] statements
Page 20
HITS HOMES TRUST LIMITED
SIJMMARY OF FUNDS
FOR THE YEAR EIYDED 31 MARCH 2025
2025
2024
EVINGTON REVENUE
(82,374)
(68,477)
EVNGTON RENTS AND SERVICE CHARGE SURPLUS
100,075
98,774
CHARITY CAPITAL
(1.014)
(1.528)
SURPLUS FOR THE YEAR
16,687
28.769
Less Depreciation for the year
16,687
28,769
FUNDS BROUGHT FORWARD
248,247
219,478
FUNDS CARRIED FORWARD
264,934
248247
ALLOCATED BETWEEN:
UNRESTRtCTED FUNDS
DESIGNATED MAIFifENANCE FLfND
DESIGNATED PROPERTY FUND
DESIGNATED CAPITAL FUND
55.432
106,008
53,494
50.000
60.604
84,149
53,494
50,000
264,934
24&247
This page does not forni part of the stattrtory fjnancial aterneThts
Pag8 21