## **HERRING HOUSE TRUST (GREAT YARMOUTH)**
## **AUDITED ACCOUNTS**
**31 MARCH 2025**
**Registered Charity No. 1057387**
**Company No. 03202862 Regulator of Social Housing No. LH4261**
## **Herring House Trust (Great Yarmouth)**
## **Index to Accounts**
## **For The Year Ended 31 March 2025**
||**Page No.**|
|---|---|
|Report of the Board|1 - 8|
|Report of the Auditor|9 - 12|
|Statement of Comprehensive Income|13|
|Balance Sheet|14|
|Statement of Changes in Reserves|15|
|Statement of Cashflows|16|
|Notes to the Accounts|17 - 30|
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board**
## **For The Year Ended 31 March 2025**
The Management Committee, who are also directors for the purposes of company law and trustees for the purposes of charity law, has pleasure in presenting its report and accounts for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the organisation’s governing document, the Companies Act 2006, the Statement of Recommended Practice for registered housing providers: Housing SORP 2018, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022.
## **REFERENCE AND ADMINISTRATION INFORMATION**
**Charity Name:** Herring House Trust (Great Yarmouth) **Registered Charity No:** 1057387 **Registered Company No:** 03202862 **Regulator of Social Housing registration No:** LH4261 **Registered Address:** Bauleah House 51 St Nicholas Road Great Yarmouth Norfolk NR30 1NR **Management Committee (Trustees):** C Beales – Chairman B Robinson – Treasurer D Cooper G Doyle (Passed away 11 June 2024) M Drewery J Shrimpton A Grier (Appointed 26 February 2025) **Operations Manager:** G Collin **Client Services Manager:** L Fleming **Auditor:** Lovewell Blake LLP Chartered Accountants & Statutory Auditor Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 0LB **Bankers:** National Westminster Bank Plc 1-2 King Street Great Yarmouth Norfolk NR30 2BA
1
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **OBJECTIVES AND ACTIVITIES**
The principal objectives are to provide resettlement and outreach support services, together with an open access hostel for the single homeless in the Great Yarmouth area.
In order to fulfil the above objectives, the organisation continues to provide supported housing accommodation at both its hostel and halfway houses.
## **Mission statement**
Our vision is that everyone has a safe and secure place to live, where they can begin to achieve their goals and move out of homelessness.
We achieve this through:
- Providing support to each person on an individual basis;
- Building positive and encouraging relationships that both supports and tests service users to meet their own needs and personal goals;
- Providing a service user led, resettlement pathway, which combines the experience of the organisation with the needs of the user.
## **Public benefit**
The Management Committee have had due regard to the guidance issued by the Charity Commission on Public Benefit.
The organisation was established to provide emergency accommodation and support to single homeless people in Great Yarmouth.
Through its activities the organisation aims to provide opportunities to those individuals motivated to change and for those who require longer to begin a process of change. It is recognised that for some individuals the long term goal of change may not be realised.
In order to achieve its aims, the organisation endeavours to provide a range of services to support homeless people and through partnership working we are able to provide access to specialist intervention services, with a view to establishing ongoing relationships aimed at addressing all aspects of physical, emotional and mental wellbeing.
2
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
**For The Year Ended 31 March 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
## **Overview**
During the 2024/2025 financial year, the Trust maintained its commitment to providing comprehensive services within our hostel facility. We successfully delivered 27 units of accommodation and support to single homeless individuals, alongside 4 units in our High Support Unit dedicated to individuals undergoing a community detox program. Additionally, our Halfway House Schemes continued to offer supplementary move-on accommodation.
The Trust provides self-contained accommodation options as a final stage, move-on solution for service users. These independent housing units come with support services designed to assist tenants in achieving long-term stability and independence.
We have maintained the ‘street to home’ offer within our stand-alone unit of self-contained accommodation for one person, who requires additional support to transition from living an unsheltered life to living independently within their own home.
## **Lived Experience Community Group**
The Herring House Trust Lived Experience Group has continued its development and has established itself as The Lived Experience Collective, comprised of current service users, this group aims to promote recovery by engaging with various local groups and partners, thereby extending the message of recovery throughout the community. They continue to offer service evaluation for services within the Homeless Sector and have plans to work across sectors to establish a lived experience community within the Town.
## **Continued Commitment**
Throughout the year, the Trust has diligently pursued its aim of providing support and accommodation to single homeless individuals in Great Yarmouth. Our efforts have been focused on offering supported housing through our hostel facility, halfway houses, and move-on homes, ensuring that our clients receive the necessary assistance to transition towards independence.
3
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **VALUE FOR MONEY**
The Regulator of Social Housing (RSH) has published a value for money standard which must be adhered to by registered Providers. This includes the need to publish nine measures in a standard form to enable comparison across the sector, accepting that there will be variances associated with each business’s policies, strategy and focus.
**==> picture [456 x 122] intentionally omitted <==**
**----- Start of picture text -----**
VFM Metric 2025 2024
1. Reinvestment % 10,3% 5.4%
2. New supply delivered (social housing units %) 8.1% 6.6%
- - -
3. New supply delivered (non social housing units %)
4. Gearing % 15.9% (26.0%)
5. EBITA MRI interest cover % 1,162.6% 1,430.7%
6. Headline social housing cost per unit £16,989 £16,107
7. Operating margin (social housing) % 5.2% 8.7%
8. Operating margin (overall) % 5,2% 8.7%
9. ROCE % 2.2% 3.6%
**----- End of picture text -----**
The Management Committee are satisfied value for money is achieved through the full provision of services at a rate which is below that of local providers.
The Management Committee has also considered how it achieves value for money in delivering services to meet the needs of single homeless people in Great Yarmouth; this is assessed over four key areas of operations, being financial measures, cost measures, asset measures and people measures.
## **KEY PERFORMANCE INDICATORS**
The organisation has continued to achieve its objectives for the year, offering ongoing support and accommodation through various stages of its services. We are committed to delivering effective housing solutions to single homeless people in Great Yarmouth.
Throughout the year management have monitored activity levels and key performance indicators identifying areas such as outstanding housing benefit and top payments, client referrals and engagement, occupancy levels and number of clients moving-on and their eventual destination.
## **CODE OF GOVERNANCE**
The Management Committee are committed to achieving good governance and being an efficient provider of services, meeting both regulatory codes and standards. The Management Committee apply the Charity Commission Code of Governance.
## **FINANCIAL REVIEW**
The organisation’s principal funding sources are predominately rent and service charges together with the Housing Related Support grant.
As at 31 March 2025 total reserves amounted to £2,028,522 (2024: £1,970,004) of which £2,006,855 (2024: £1,950,263) related to unrestricted funds and £21,667 (2024: £19,741) to restricted funds.
The organisation had a net surplus in the year of £58,518 (2024: net surplus £96,119) as shown on page 13 of the accounts.
4
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **Reserves policy**
The Management Committee is mindful of the need for sufficient reserves to be maintained to ensure the continued operation of the organisation on a day to day basis. It is the aim of the committee to maintain sufficient reserves to cover 3 months’ cash expenditure. At 31 March 2025 net current assets within the unrestricted funds were £519,206 (2024: £713,908) which represents approximately 6 months’ expenditure. The organisation also had net current assets within the restricted funds of £21,667 (2024: £19,741).
The Management Committee were also aware at the year-end that loan repayments will be made in the following 12 months. This will be met from the organisation’s free reserves together with future property developments as detailed below.
## **PLANS FOR THE FUTURE**
## **Developments**
Herring House Trust expanded its housing stock during 2024/25 by adding four new units of accommodation. This expansion will facilitate move-on options from existing first-stage accommodations, further supporting our service users' progression. A programme of refurbishment has taken place on the new building and was ready for occupation at the start of the new financial year 25/26.
In addition, the Trust has purchased an additional building which will allow for 3 units of shared accommodation.
The development of the Lived Experience Collective will remain a priority, as it becomes an integral part of our work. The group has worked with consultant to establish an evaluation tool to benchmark service delivery and establish a system for evaluating services provided to homeless people in the Town.
Our collaboration to create a bespoke service user management system, was piloted in June 2025. This system will automate and enhance our existing internal processes, improving efficiency and service delivery.
## **New Developments**
Work will begin on the refurbishment of the new building to allow for 3 additional units of accommodation and space for client training.
We remain dedicated to our mission and are committed to continuously enhancing our services to better serve our community and support our clients on their journey to recovery and independence.
5
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Herring House Trust operates as a charitable company registered with the Charities Commission (Registration Number 1057387) and is approved as a Registered Social Housing Provider under Section 3 of the Housing and Regeneration Act 2008.
## **Recruitment and appointment of Management Committee**
Management Committee members shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects or management of the organisation.
## **Induction and training of Management Committee**
All Management Committee members are provided with copies of:
- The Memorandum and Articles of Association
- The latest accounts of the organisation
- Details of Charity Commission guidance notes CC3 – “The Essential Trustee – what you need to know, what you need to do"
In addition, Management Committee members are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
## **Organisational structure**
A Management Committee meets on a regular basis, administers the organisation and its finances. An operations manager is appointed by the Committee to manage the day to day operations of the organisation.
## **Key management personnel salary review**
There are arrangements for salary review of key staff, which is decided at annual pay reviews by the Management Committee.
## **Directors**
The members of the Management Committee, who are directors of the company within the meaning of the Companies Act 2006 and held office throughout the year are shown on Page 1.
## **Fundraising standards**
The Management Committee have chosen for the organisation to be regulated by the Fundraising Regulator and listed on the Fundraising Preference Service.
The organisation does not use any third party organisations to act on its behalf in making direct unsolicited appeals.
Since joining the Fundraising Regulator, the organisation has received no complaints via their preference service, or directly from any organisation or individual.
All donations to the organisation are voluntary and the organisation does not solicit donations from its clients or beneficiaries directly or conduct any contact practice that may place an individual under pressure or obligation.
6
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Risk assessment**
The Management Committee have undertaken a review of the risks faced by the organisation and have implemented systems to mitigate these risks. The risk assessment is reviewed on an annual basis.
The Management Committee acknowledges its overall responsibilities for overseeing and reviewing its effectiveness in the delivery of services to homeless people in Great Yarmouth. A system of internal control exists to ensure reliability of financial and operational information with Herring House Trust. Internal systems ensure the safeguarding of the organisation’s assets and interests.
The principal risks identified are:
- Loss of key staff
- Conflict of interest where decisions may be influenced by other considerations
- Board of Management Committee dominated by one or more individuals
- Loss of Management Committee
- Organisation failing to achieve its purpose
- Activities outside of restricted funding
- Trustees benefiting from organisation
- Customer satisfaction
- Contract risk
- Security of assets
- Over capacity of resources – including tangible fixed assets
- Competition
- Dependency on suppliers
- Fundraising
- Change in Government policy
- Insufficient funding to meet development costs on any new development
- Delay of building works
- Organisational structuring
- Resource risk – staff capacity
## **Responsibilities of the Management Committee**
The Management Committee (who are also directors of Herring House Trust (Great Yarmouth) for the purposes of company law) are responsible for preparing the Report of the Board and the financial statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law and registered social housing legislation requires the Management Committee to prepare financial statements for each financial year. Under company law the Management Committee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the organisation and of the incoming resources and application of resources, including income and expenditure, of the organisation for that period.
7
## **Herring House Trust (Great Yarmouth)**
## **Report of the Board (Continued)**
## **For The Year Ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Responsibilities of the Management Committee (continued)**
In preparing the financial statements, the Management Committee is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards and the Statement of Recommended Practice (SORP) for Registered Social Housing Providers 2018 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the organisation will continue in operation.
The Management Committee is responsible for keeping adequate and proper accounting records that disclose with reasonable accuracy at any time the financial position of the organisation and enable them to ensure that the financial statements comply with the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We, the Management Committee can confirm so far as we are aware that:
- there is no relevant audit information of which the organisation’s auditor is unaware; and
- the Management Committee has taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **Auditor**
Lovewell Blake LLP are willing to continue as auditor.
## **Small company provisions**
This report has been prepared in accordance with the special provisions for small companies under Part 415A of the Companies Act 2006.
Signed on behalf of the Management Committee
C BEALES
Date:12 December 2025
8
## **Independent Auditor’s Report to the Members of**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
We have audited the financial statements of Herring House Trust (Great Yarmouth) for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Reserves, the Statement of Cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the organisation’s affairs as at 31 March 2025 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Directions for private registered providers of social housing in England 2022.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the organisation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Management Committee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the organisation's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Management Committee with respect to going concern are described in the relevant sections of this report.
9
## **Independent Report of the Auditor to the Members of**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
## **Other information**
The other information comprises the information included in the Report of the Board, other than the financial statements and our auditor’s report thereon. The Management Committee are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matter prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Board for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Board has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the organisation and its environment obtained in the course of the audit, we have not identified material misstatements in Report for the Board.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Management Committee members’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Management Committee members were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Report of the Board and from the requirement to prepare a Strategic Report.
10
## **Independent Report of the Auditor to the Members of**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion:
- a satisfactory system of control over transactions has not been maintained.
## **Responsibilities of the Management Committee**
As explained more fully in the Management Committee’s Responsibilities Statement set out on pages 7 and 8, the Management Committee (who are also the directors of the organisation for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Management Committee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Management Committee is responsible for assessing the organisation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management Committee either intends to liquidate the organisation or to cease operations, or has no realistic alternative but to do so.
## **Auditor responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance;
- Enquiry of entity staff compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of the organisation’s activities and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
11
## **Independent Report of the Auditor to the Members of**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the organisation’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and Section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the organisation’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the organisation and the organisation’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Bankside 300 Peachman Way Mark Proctor FCA DChA (Senior Statutory Auditor) Broadland Business Park For and on behalf of Lovewell Blake LLP Norwich Statutory Auditor Norfolk NR7 0LB Date:** 22 December 2025
12
## **Herring House Trust (Great Yarmouth)**
## **Statement of Comprehensive Income (including Income and Expenditure Account)**
## **For The Year Ended 31 March 2025**
|**Notes**
Turnover
3
Operating expenditure
7
Operating surplus
Other income
6
Interest receivable
Interest and financing costs
Total comprehensive income for the year
9
Reserve brought forward
Reserves carried forward|**Total Funds**
**2025**
**2024**
**£**
**£**
1,120,420
1,088,005
(1,053,307)
(982,545)
67,113
105,460
513
70
1,047
986
(10,155)
(10,397)
58,518
96,119
1,970,004
1,873,885
2,028,522
1,970,004|
|---|---|
|||
There are no recognised gains or losses during the year other than as stated above.
The statement of comprehensive income reflects the activity during the year which is of a continuing nature.
The accounts were approved by the Management Committee on 12 December 2025
C BEALES
B ROBINSON
The notes set out on pages 17 to 30 form an integral part of these accounts
13
## **Herring House Trust (Great Yarmouth)**
## **Balance Sheet**
|**As at 31 March 2025**|**Company Number: 03202862**
**2025**
**2024**
**£ £**
2,119,817
1,889,953
61,999
35,946
541,791
759,090
603,790
795,036
(62,917)
(61,387)
540,873
733,649
2,660,690
2,623,602
(632,168)
(653,598)
2,028,522
1,970,004
2,006,855
1,950,263
21,667
19,741
2,028,522
1,970,004|
|---|---|
|**Notes**
**Fixed Asset**
Tangible fixed assets
10
**Current Assets**
Debtors
11
Cash and bank balances
**Creditors: Amounts falling due**
**within one year**
12
**Net Current Assets**
**Total Assets less Current Liabilities**
**Creditors: amounts falling due**
**after more than one year**
13
**Total Net Assets**
**Funds**
Unrestricted funds
15
Restricted funds
15
**Total Funds**|**2025**
**£**
2,119,817
61,999
541,791
603,790
(62,917)
540,873
2,660,690
(632,168)
2,028,522
2,006,855
21,667
2,028,522|
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of Companies Act 2006.
These accounts were approved and authorised for issue by the Management Committee on 12 December 2025 and signed on their behalf by:
## C BEALES
## B ROBINSON
The notes set out on pages 17 to 30 form an integral part of these accounts
14
## **Herring House Trust (Great Yarmouth)**
## **Statement of Changes in Reserves**
## **As at 31 March 2025**
|Unrestricted
Fund
Restricted
Funds
£
£
**At 1 April 2023**
**1,873,885**
**-**
Surplus for the year
76,378
19,741
**Total comprehensive**
**income**
76,378
19,741
**At 31 March 2024 and**
**1 April 2024**
**1,950,263**
**19,741**
Surplus for the year
56,592
1,926
**Total comprehensive**
**income**
56,592
1,926
**At 31 March 2025**
**2,006,855**
**21,667**|Total
£
**1,873,885**
96,119
96,119
**1,970,004**|Total
£
**1,873,885**
96,119
96,119
**1,970,004**|
|---|---|---|
||
58,518
58,518
**2,028,522**|
58,518|
|||58,518|
The notes set out on pages 17 to 30 form an integral part of these accounts
15
## **Herring House Trust (Great Yarmouth)**
## **Statement of Cashflows**
## **For The Year Ended 31 March 2025**
|**2025**
**Note**
**£**
**Net cash generated from operating activities**
21
103,502
**Cash flow from investing activities**
Payments to acquire fixed assets
(307,803)
Interest received
1,047
**Net cash flow from investing activities**
(306,756)
**Cash flow from financing activities**
Loan repayments
(5,089)
Interest paid
(8,956)
**Net cash flow from financing activities**
(14,045)
**Net increase in cash and cash equivalents**
(217,299)
**Cash and cash equivalents at 1 April 2024**
759,090
**Cash and cash equivalents at 31 March 2025**
541,791
**Cash and cash equivalents consists of:**
Cash at bank and in hand
759,090
**Cash and cash equivalents at 31 March 2025**
541,791
|**2024**
**£**
168,607
(155,851)
986
(154,865)|
|---|---|
||(4,658)
(9,360)
(14,018)
(276)
759,366
759,090
759,366
759.090|
The notes set out on pages 17 to 30 form an integral part of these accounts
16
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts**
## **For The Year Ended 31 March 2025**
## 1 **Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## (a) _**General information**_
Herring House Trust (Great Yarmouth) is a UK registered Company under the Companies Act 2006, Charity under the Charities Act 2011 and is a registered housing provider. The address of the registered office is given in the reference and administration information on page 1 of these financial statements. The nature of the Housing Trust’s operations and principal activities are to provide resettlement and outreach support services, together with an open access hostel for the single homeless in the Great Yarmouth area.
The Trust constitutes a public benefit entity as defined by FRS 102.
## (b) _**Basis of accounting and statement of compliance**_
These financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2022. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008 and the Companies Act 2006.
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
The financial statements are presented in Sterling.
## (c) _**Funds**_
Unrestricted funds are available for use at the discretion of the Management Committee in furtherance of the general objectives of the organisation.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## (d) _**Turnover**_
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:
Turnover represents rental and service charges income receivable in the year net of rent and service charge losses from voids.
Donations are included in the year in which they are receivable, which is when the organisation becomes entitled to the resource.
17
**Notes To The Accounts (Continued)**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
## 1 **Accounting Policies (continued)**
## (d) _**Turnover (continued)**_
Grants in respect of revenue expenditure are credited to the Statement of Comprehensive Income account on a receivable basis. Grants received in advance of the period to which they relate are shown within the Balance Sheet as deferred income and released to the Statement of Comprehensive Income on a receivable basis.
## (e) _**Capital grants**_
Grants received from non-government sources are recognised using the performance model. A grant which does not impose future performance conditions is recognised as revenue when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions on the organisation is recognised only when these conditions are met. A grant received before the revenue recognition criteria are satisfied is recognised as a liability.
## (f) _**Government grants**_
Government grants include grants receivable from the Homes England, local authorities and other government organisations. Government grants received in respect of housing properties are recognised as income over the useful life of the housing property structure and, where applicable, its individual components (excluding land) under the accruals model.
Grants relating to revenue are recognised as income and expenditure over the same period as the expenditure to which they relate once reasonable assurance has been gained that the entity will comply with the conditions and that the funds have been received.
Grants due from government organisations or received in advance are included as current assets or liabilities.
## (g) _**Expenditure**_
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Operating expenditure comprises those costs incurred by the organisation in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All costs are allocated between the expenditure categories of the Statement of Comprehensive Income on a basis designed to reflect the use of the resource.
18
**Notes To The Accounts (Continued)**
## **Herring House Trust (Great Yarmouth)**
## **For The Year Ended 31 March 2025**
## 1 **Accounting Policies (continued)**
## (h) _**Housing properties**_
Housing properties are principally properties available for rent and are stated at cost less depreciation. Cost includes the cost of acquiring land and buildings, development costs and expenditure incurred in respect of improvements.
Improvements are works which result in an increase in the net rental income, such as a reduction in future maintenance costs, or result in a significant extension of the useful economic life of the property in the organisation. Only the direct overhead costs associated with new developments or improvements are capitalised.
## (i) _**Depreciation**_
Fixed assets are included at cost. Depreciation is calculated to write off the cost, less estimated residual value of all tangible fixed assets, with the exception of land and property under development, over their estimated useful lives to the organisation. The annual rates and methods used are as follows:
Computer 20% straight line Fixtures and fittings 20% straight line Motor vehicles 20% straight line
Component accounting has been given consideration and the following appropriate percentages have been applied to each component part of the property over there useful economic lives.
|Land|Nil depreciation|
|---|---|
|Building envelope|2% straight line|
|Windows and external doors|3.3% straight line|
|Kitchens|6.6% straight line|
|Bathrooms|4% straight line|
|Mechanical and electrical|2.5% straight line|
|Boilers|6.6% straight line|
|Flooring|5-10% straight line|
## (j) _**Financial instruments**_
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
19
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 1 **Accounting Policies (continued)**
## (k) _**Loans and borrowings**_
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured amortised cost using the effective interest method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
## (l) _**Operating lease agreements**_
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
## (m) _**Pension costs**_
The organisation operates a Defined Contribution Pension Scheme for employees. The assets of the scheme are held separately from those of the organisation. The contributions payable are charged to the Income and Expenditure account as they fall due.
## (n) _**Going concern**_
The financial statements have been prepared on a going concern basis as the Management Committee believe that no material uncertainties exist. The Management Committee have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the organisation to be able to continue as a going concern.
## 2
|**Turnover**||**2025**|||**2024**||
|---|---|---|---|---|---|---|
||Turnover|Operating|Operating|Turnover|Operating|Operating|
|||Costs|Surplus||Costs|Surplus|
||£|£|£|£|£|£|
|Supported|housing||||||
|lettings|1,120,420|(1,053,307)|67,113|1,088,005|(982,545)|105,460|
All turnover, operating costs and operating surpluses have been generated through the organisation’s 59 Supported Housing units (2024: 59 units).
20
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
|3
**Turnover from lettings**
Rents and service charges (note 4)
Donations and grants (note 5)
|**2025**
**£**
779,891
340,529
1,120,420|**2024**
**£**
733,273
354,732
1,088,005|
|---|---|---|
During the year ended 31 March 2025, £40,031 of turnover from lettings was restricted (2024: £66,289) and £1,080,389 was unrestricted (2024: £1,021,716).
|4
**Rental Income**
Rents
Top Ups
Rent (losses) from voids|**Hostel**
**£**
431,033
49,296
(2,149)
478,180||**Halfway**
**Houses**
**£**
311,507
21,840
(31,636)
301,711|**2025**
**£**
742,540
71,136
(33,785)
779,891|**2024**
**£**
694,099
67,496
(28,322)
733,273|
|---|---|---|---|---|---|
|||||||
The calculation of voids takes into account the maximum theoretical income that could be achieved.
## 5 **Donations and grants**
|Housing Related Support grant
Norfolk County Council grant
B & Q grant
Government grants - capital
Capital grant
Other grants, donations and legacy|**2025**
**£**
277,837
40,031
-
9,937
5,000
7,724
340,529|**2024**
**£**
264,337
53,789
10,000
9,937
5,000
11,669
354,732|
|---|---|---|
Of the total income received £1,002,584 (2024: £987,428) was received from local authorities.
Government grants amounting to £379,272 (2024: £389,209) were deferred at the year end.
21
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
|6|**Other income**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||Court income|44|70|
||Other income|469|-|
|||513|70|
## 7 **Operating costs – Social Housing Lettings**
|Provision of services:
Hostel
**Other costs**
Premises
Maintenance
Loss on disposal
Food, laundry and residents
Project costs
Office costs
Equipment rental
Professional fees
Bad debts
Miscellaneous|**Staff**
**costs Depreciation**
**£**
**£**
680,086
73,429
680,086
73,429
welfare|**Other**
**costs**
**£**
299,792
299,792|**2025**
**£**
1,053,307
1,053,307
**2025**
**£**
111,451
48,742
4,510
56,000
13,105
29,525
4,386
23,726
847
7,500
299,792|**2024**
**£**
982,545
982,545
**2024**
**£**
104,875
44,381
-
47,855
2,135
39,770
2,997
24,088
4,701
10,998
281,800|
|---|---|---|---|---|
||||||
During the year ended 31 March 2025, £38,105 of operating costs were restricted (2024: £46,548) and £1,015,202 unrestricted (2024: £935,997).
22
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued) For The Year Ended 31 March 2025**
|8|**Staff costs**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||Staff costs|||
||Wages and salaries|614,404|573,260|
||Social security costs|54,114|49,034|
||Pension costs
|11,568|10,809|
|||680,086|633,103|
|The|average number employees during the year were:|**2025**|**2024**|
|||**£**|**£**|
||Hostel|18|18|
||Halfway Houses and Resettlement Services|2|2|
||Rough Sleeper|1|1|
||Higher paid staff|21|21|
||The number of employees whose employee benefits (excluding employer pension costs)|||
||exceeded £60,000 was:|||
|||**2025**|**2024**|
||£60,001 - £69,999|1|2|
||£70,000 - £79,999|1|-|
Key management personnel remuneration amounted to £158,138 (2024: £154,505) in respect of two employee (2024: two employees).
## **Emoluments of Executive Officers**
For the purposes of this note Executive Officers consist of the Operations Manager and the Client Services Manager.
No members of the Management Committee received any remuneration during the year.
The remuneration paid to Executive Officers was as follows:
|The remuneration paid to Executive Officers was as follows:|||
|---|---|---|
|Total emoluments
Pension contributions|**2025**
**£**
138,846
2,642
141,488|**2024**
**£**
135,651
2,642|
|||138,293|
The Executive Officers are members of the defined contribution pension scheme operated by the organisation. No enhances or special terms apply. During the period the total amount contributed to the pension arrangement was £2,642 (2024: £2,642).
23
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 9 **Operating Surplus**
|The operating surplus is stated after charging (inclusive of VAT):
Operating lease rentals
Rent and service charge bad debts
Depreciation
Loss on disposal
Audit fees (excluding VAT)|**2025**
**£**
4,386
847
73,429
4,510
10,277|**2024**
**£**
2,997
4,701
67,642
-
9,695|
|---|---|---|
## 10 **Fixed Assets**
|**Housing**
**Fixtures,**
**properties**
**fittings &**
**for lettings**
**Equipment**
**£**
**£**
**Cost**
At 1 April 2024
2,561,652
411,513
Additions
293,284
14,519
Disposals
(10,000)
-
At 31 March 2025
2,844,936
426,032
**Depreciation**
At 1 April 2024
689,522
393,690
Eliminated on disposal
(5,490)
-
Charge for the year
67,412
6,017
At 31 March 2025
751,444
399,707
**Net Book Value**
At 31 March 2025
2,093,492
26,325
At 31 March 2024
1,872,130
17,823
11
**Debtors**
Social Housing rent arrears (net of bad debt provision of
£2,132 (2024: £2,132))
Rough Sleeper Grant
Prepayments|**Housing**
**Fixtures,**
**properties**
**fittings &**
**for lettings**
**Equipment**
**£**
**£**
**Cost**
At 1 April 2024
2,561,652
411,513
Additions
293,284
14,519
Disposals
(10,000)
-
At 31 March 2025
2,844,936
426,032
**Depreciation**
At 1 April 2024
689,522
393,690
Eliminated on disposal
(5,490)
-
Charge for the year
67,412
6,017
At 31 March 2025
751,444
399,707
**Net Book Value**
At 31 March 2025
2,093,492
26,325
At 31 March 2024
1,872,130
17,823
11
**Debtors**
Social Housing rent arrears (net of bad debt provision of
£2,132 (2024: £2,132))
Rough Sleeper Grant
Prepayments|**Housing**
**Fixtures,**
**properties**
**fittings &**
**for lettings**
**Equipment**
**£**
**£**
**Cost**
At 1 April 2024
2,561,652
411,513
Additions
293,284
14,519
Disposals
(10,000)
-
At 31 March 2025
2,844,936
426,032
**Depreciation**
At 1 April 2024
689,522
393,690
Eliminated on disposal
(5,490)
-
Charge for the year
67,412
6,017
At 31 March 2025
751,444
399,707
**Net Book Value**
At 31 March 2025
2,093,492
26,325
At 31 March 2024
1,872,130
17,823
11
**Debtors**
Social Housing rent arrears (net of bad debt provision of
£2,132 (2024: £2,132))
Rough Sleeper Grant
Prepayments|**Motor**
**vehicles**
**£**
13,875
-
-
13,875
13,875
-
-
13,875
-
-
**2025**
**£**
38,488
10,008
13,503
61,999|1|**Total**
**£**
2,987,040
307,803
(10,000)
3,284,843
1,097,087
(5,490)
73,429
1,165,026
2,119,817
1,889,953
**2024**
**£**
22,803
-
3,143
35,946|
|---|---|---|---|---|---|
||393,690
-
6,017|||||
||399,707|||||
|||26,325||||
|||17,823||||
|||of||||
|||||||
24
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
|12
**Creditors: Amounts Falling Due Within One Year**
Bank loans and overdrafts
Tax and social security
Other
Accruals
Trade creditors
Deferred grant income|**2025**
**£**
5,410
13,140
2,152
18,932
8,346
14,937
62,917|**2024**
**£**
4,006
12,526
2,094
16,605
11,219
14,937
61,387|
|---|---|---|
The following liabilities disclosed under creditors falling due within one year are secured by the organisation:
|Bank loans and overdrafts|**2025**
**£**
5,410|**2024**
**£**
4,006|
|---|---|---|
The bank loan is on a repayment basis repayable over 25 years and is secured on the Halfway House properties. Interest is calculated at a rate of 5% above base, resulting in a rate of 9.5% at the balance sheet date.
|13
**Creditors: amounts falling due after more than one year**
Bank loans and overdrafts
Deferred grant income (note 14)|**2025**
**£**
82,838
549,330
632,168|**2024**
**£**
89,331
564,267
653,598|
|---|---|---|
The following liabilities disclosed under creditors falling due after more than one year are secured by the organisation:
|Bank loans and overdrafts
Included within creditors falling due after more than one year are
In more than one year but not more than two years
In more than two years but not more than five years
In more than five years|**2025**
**2024**
**£**
**£**
82,838
89,331
amounts repayable:
5,695
5,029
20,826
18,392
56,317
65,910|
|---|---|
25
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
|14
**Deferred grant income**
Deferred income brought forward
Released in the year
Deferred income carried forward
Amounts to be released within one year
Amounts to be released in more than one year|**2025**
**£**
579,204
(14,937)
564,267
14,937
549,330
564,267|**2024**
**£**
594,141
(14,937)
579,204
14,937
564,267
579,204|
|---|---|---|
Included within deferred income at the year end are government grants amounting to £379,272 (2024: £389,209).
## 15 **Reconciliation of Movements in Funds**
||**Funds at**|**Income**|**(Expenditure)**|**Funds at 31**|
|---|---|---|---|---|
||**1 April 2024**|**in the year**|
**in the year**|**March 2025**|
||**£**|**£**|
**£**|**£**|
|**Unrestricted Fund**|||||
|Unrestricted funds|1,950,263|1,081,949|
(1,025,357)|2,006,855|
||1,950,263|1,081,949|
(1,025,357)|2,006,855|
|**Restricted Funds**|||||
|Rough Sleeper Drug & Alcohol|||||
|Treatment|7,741|40,031|
(38,105)|9,667|
|Property Development Fund12,000||
-|-|12,000|
||19,741|40,031|
(38,105)|21,667|
|**Total Funds**|1,970,004|1,121,980|
(1,063,462)|2,028,522|
26
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 15 **Reconciliation of Movements in Funds (continued)**
||**Funds**|**at**|**Income**|**(Expenditure)**|**Funds at 31**|
|---|---|---|---|---|---|
||**1 April 2023**||**in the year**|
**in the year**|**March 2024**|
|||**£**|**£**|
**£**|**£**|
|**Unrestricted Funds**||||||
|Unrestricted funds|1,873,885||1,022,772|(946,394)|1,950,263|
||1,873,885||1,022,772|
(946,394)|1,950,263|
|**Restricted Funds**||||||
|**Norfolk Community Foundation**||||||
|NCF Adult Social Services||-|500|
(500)|-|
|Rough Sleeper Drug & Alcohol||||||
|Treatment||-|53,789|
(46,048)|7,741|
|Property Development Fund||-|12,000|
-|12,000|
|||-|66,289|
(46,548)|19,741|
|**Total Funds**|
1,873,885||1,089,061|
(992,942)|1,970,004|
## **Unrestricted Funds** :
Unrestricted funds include income and expenditure to provide emergency accommodation and support to 31 single homeless people, offering 24-hour support and access to services (including a further 4 high support units) in the Hostel and to provide move on accommodation to 28 individuals in semi-independent, shared accommodation. The resettlement scheme offers move-on resettlement support to people moving into the houses and also support to move on to longer term accommodation through their part within the Great Yarmouth Homesupport Consortium. This provides tenancy support to people living independently within the community.
## **Restricted Funds**
Norfolk Community Foundation – Funding for running workshops and the cover of costs related to this.
Norfolk County Council – Funding for the Rough Sleeper Drug and Alcohol Treatment for wages, bursary and running costs related to Rise Reset Café, Brew Crew and Lived Experience.
Property Development Fund – Funding to development properties owned by the Trust.
28
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 16 **Net Analysis of Funds**
Each is represented by the following assets and liabilities:
|**2025**|||||||||
|---|---|---|---|---|---|---|---|---|
||||**Cash**|**Other**||**Long**|||
||**Fixed**||**and bank**|**current**|**Current**|**term**|||
||**assets**||**balances**|**assets**|**liabilities**|**liabilities**||**Total**|
||**£**||**£**|**£**|**£**||**£**|**£**|
|**Unrestricted funds**|||||||||
|Unrestricted fund|2,119,817||520,124|61,999|(62,917)|(632,168) 2,006,855|||
||2,119,817||520,124|61,999|(62,917)|(632,168) 2,006,855|||
|**Restricted funds**|||||||||
|Rough Sleeper Drug &|||||||||
|Alcohol Treatment||-|9,667|-|-||-|9,667|
|Property Development|Fund|-|12,000|-|-||-|12,000|
|||-|21,667|-|-||-|21,667|
|**Total funds**|2,119,817||541,791|61,999|(62,917)|(632,168) 2,028,522|||
|**2024**|||||||||
||||**Cash**|**Other**||**Long**|||
||**Fixed**||**and bank**|**current**|**Current**|**term**|||
||**assets**||**balances**|**assets**|**liabilities**|**liabilities**||**Total**|
||**£**||**£**|**£**|**£**||**£**|**£**|
|**Unrestricted funds**|||||||||
|Unrestricted fund|1,889,953||739,349|35,946|(61,387)|(653,598) 1,950,263|||
||1,889,953||739,349|35,946|(61,387)|(653,598) 1,950,263|||
|**Restricted funds**|||||||||
|Rough Sleeper Drug &|||||||||
|Alcohol Treatment||-|7,741|-|-||-|7,741|
|Property Development|Fund|-|12,000|-|-||-|12,000|
|||-|19,741|-|-||-|19,741|
|**Total funds**|1,889,953||759,090|35,946|(61,387)|(653,598) 1,970,004|||
28
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 17 **Accommodation owned and in management**
|**Accommodation owned and in**|**management**||
|---|---|---|
||**Number of units at**||
||**31 March 2025 31 March 2024**||
||**£**|**£**|
|_Social housing_|||
|Supported housing|59|59|
## 18 **Operating lease commitments**
The total future minimum lease payments under non-cancellable operating leases are as follows:
|_Plant and Machinery_
Not later than 1 year
Later than 1 year and not later than 5 years|**2025**
**£**
4,201
10,503
14,704
|**2024**
**£**
4,201
14,705|
|---|---|---|
|||18,906|
## 19 **Related party transactions**
Unrestricted donations were received from the Management Committee amounting to £200 (2024: £300).
During the year ended 31 March 2024 the spouse of a member of the management team received remuneration as a relief support worker. Their appointment was made in open competition and the member of the management team was not involved in the decision making process regarding their appointment. The individual was paid within the normal pay scale for the role and receives no special treatment as a result of their relationship with the management team.
## 20 **Company Status**
The company is limited by guarantee. Each member of the company undertakes to contribute such amount (not exceeding £10) as may be required in the event of a winding up.
## 21 **Reconciliation of operating surplus to cash flow from operating activities**
|Surplus for the year
Depreciation on tangible fixed assets
Loss on disposal
(Increase) / decrease in trade and other debtors
(Decrease) / increase in trade and other creditors
Finance charges
Interest receivable|**2025**
**£**
58,518
73,429
4,510
(26,053)
(14,811)
8,956
(1,047)
103,502|**2024**
**£**
96,119
67,642
-
3,434
(6,962)
9,360
(986)
168,607|
|---|---|---|
29
## **Herring House Trust (Great Yarmouth)**
## **Notes To The Accounts (Continued)**
## **For The Year Ended 31 March 2025**
## 22 **Analysis of changes in net debt**
|**At 1 April**
**2024**
**Cashflows**
**Other**
**non-**
**cash**
**changes**
Cash at bank and in hand
759,090
(217,299)
-
Loans falling due within
one year
(4,006)
5,089
(6,493)
Loans falling due after
more than one year
(89,331)
-
6,493
665,753
(212,210)
-|**At 31**
**March**
**2025**
541,791
(5,410)
(82,838)
453,543|
|---|---|
## 23 **Pension costs**
The organisation operates a defined contribution pension scheme for the benefit of the employees. The assets of the scheme are administered by Trustees in a fund independent from those of the organisation. The total contributions paid in the year amounted to £11,568 (2024: £10,809). At the year end there is an amount included within creditors of £2,143 (2024: £2,086) owing to the scheme.
30
## **Herring House Trust (Great Yarmouth)**
## **Income And Expenditure Account Hostel and Halfway House Scheme**
## **For The Year Ended 31 March 2025**
|**Income**
Rents received (inc Housing Benefit)
Top ups
Donations
Other income
Interest
Housing Related Support income
Grants
**Expenditure**
Food and other household costs
Rates
Residents’ welfare
Laundry and cleaning
Salaries and national insurance
Light, heat and water
Insurances
Postage and stationery
Telephone
Travel and subsistence
Professional costs
General
TV licence
Advertising & subscriptions
Training
Recruitment costs
Repairs & consumables
Equipment rental
Motor expenses
Depreciation - Freehold & leasehold property
- Fixtures and fittings
Fixed asset loss on disposal
Bad debts/write off
Bank charges and loan interest
**Excess income over expenditure**|**2025**
**£**
714,943
64,948
7,724
513
1,047
277,837
14,937
1,081,949
29,034
4,244
3,629
23,337
655,086
82,310
24,897
3,402
13,747
72
23,726
10,343
1,187
2,331
1,492
1,661
48,742
4,386
2,790
67,412
6,017
4,510
847
10,155
(1,025,357)
56,592|**2024**
**£**
669,395
63,878
9,517
70
986
264,337
27,089
1,035,272
24,534
4,130
4,496
18,825
591,919
78,357
22,388
3,124
23,487
71
24,088
10,039
1,590
1,679
4,777
-
44,381
2,997
3,273
61,914
5,728
-
4,701
10,397
(946,895)
88,377|
|---|---|---|
||
||
31
## **Herring House Trust (Great Yarmouth)**
## **Income And Expenditure Account**
## **Rough Sleeper Drug & Alcohol Treatment Project**
## **For The Year Ended 31 March 2025**
|**2025**
**£**
**Income**
Grant income
40,031
**Expenditure**
Brew Crew & Resett Café
13,105
Salaries and national insurance
25,000
Training
-
General
-
(38,105)
**Excess income over expenditure**
1,926|**2024**
**£**
53,789
2,135
41,184
1,770
959
(46,048)
7,741|**2024**
**£**
53,789
2,135
41,184
1,770
959
(46,048)
7,741|
|---|---|---|
|||
7,741|
32