COMPANY REGISTERED NUMBER: 03229725 (England and wa#> CHARITY REGISTERED NUMBER: 1058283 THE HAVEN HOUSING TRUST REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
THE HAVEN HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IAARCH 2025 Pag• C(Mnpany Inforniatlon Report of the Director3 and Truste•s Statomont of Trus19. rnsponslbllilles Ind•pond8nt oxamlnerfs report Statement of fln•nclal actSvltlo8 Balance sheet Notgs to the financlal 8tst•monts
THE HAVEN HOUSING TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31ST MARCH 2025 DIRECTORwfRUSTEES: M B l<wsch (resigned 5 August 2024) GR Tkld S Walker E Bloh (appointed 5 August 2024) REGISTERED OFFICE: 31 Cedar Road Forest Fields Nottingham NG7 6HZ REGISTERED NUMBER: 03229725 (E18nd and Wths) REGISTERED CHARITY NUMBER: 1058283 INDEPENDENT EXAMINER: Neil Harris FCA Bsc (Hons) Cygnel Accounting Limited 37 Rossell Drivg Stapleford Nottingham. NG9 7EG BANKERS: VITgsn Money 11 Smithy RIM Nottingham UK NG13EJ Page 1
THE HAVEM HOUSING TRUST REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The tnJ8tees present thelr annual rew arKJ financial stst8m8nts for the year ended 31 March 2025. The ac¢ounts have been prepared in accordan(*J with the accounting policies set out in rde 1 to the a(m and comply wilh the requlrements of the memorandum ar)d articles of asallon. the CorYw8ni8s Acl 2006 and "Accounllng arKI Reporung by Charflles". Statement of RecomThnded Pra(the applScable to chartties preparlng their acc4)unts in accordance with the Financial Repo.ng Stsndard applicable in the UK and Republlc of Ireland (FRS 102)- (as amended for accounlng riodS commencing from 1 January 2016). Since the Charity qualifies as small under sectM)n 323. the Strategic report requked of medium and large companies under th8 companies Acl is not required. Objectives and activltses The principal obj'ect of the charity Is Ihe relief of older homeless and oldef unsui18bly housed people (meaning generalty those over 50 years d} who are also disadvantaged by virtue of illness. disabilty. rM)vety and support ne8ds. and thereby unable to acc888 atternalvo accomrnodation. by the provision of supported accommodatN)n. The truslees have referred lo the guhjance contained in the Charlty Commission's general guidance on publ benefit when reviewing their alms and objectives and In plannlng thelr future aclivÉiies. In partlcular. the Trustees (xider how planned actlvlties wlll contrlbute to the ains and obJeclives they have sel. Achi•v•ments and performanc• Duwing the year the charty has continued lo work through the process of seekwu to reslxrecl tt'8 accommodalN)n and Fumiture Propd aclivibes. Flnancl•l r•vlew During the year the charity's total income Increased to £87,687 (2024". £84,493). This Is Wisidered very satisfa¢tory. The Gharity's shop income was £19,467 (2024: £18.854}. Costs were lower durmg Ihe year at £74.689 (2024: £84.140}, an anatysis of whlch be seen In not8 6 on page 11. Thi5. overall. resutt8d in a swphJ$ of £12,998 (2024: £353) for the year. Regerv68 policy The tnJslees keep Ihis policy under review. Whllst it has not been possiblè to Increase free rèserves to the le1 of having threa months c08ts in reserve it is still deemed the tsrget to atm for. Risk managom•nt The dep8ndence on ststutory fijndlng in the fom of rent supp(Kt through unlversal credit and hwslng benefrt continues to be the case. although this Is not considered a hwh level risk Shop incom& adds a diversty to the income stream, addlng a degree of income resilience. Struthire, govornancfj and management The charity is constiiuted as a company limiled by guarantee, and Is therefore governed by a memorandum and articles of assi)ciation. Due to Ihe smaH size of the charity. Lewis Blight is responslble for ovet5eeing the day to day operath)ns of the charity. which indudes the provision of accommodation, the maintenance of that accOmmodatn and the fumitijre project. Monthly meetings with a least one of the trustees lake place10 discuss the charity oper8tK)n8 in general tem)s, and payments for that month are apmed. Larger transactions are disojssed arKI apwoved by lh8 trustees. The trustees. who are also the directors for the purpose of rnpanY law. and who served during the year and up to Ihe date of signature of the financial statements were: M B Kirsch (resigned 5 August 2024) GRTldd S Walker E Bh'gh <aps)ointed 5 August 2024) The notss forni pwt of these financi815tatements Page 2
THE HAVEN HOUSING TRUST REPORT OF THE DIRECTORS AND TRUSTEES - continued FOR THE YEAR ENDED 31ST MARCH 2025 R•¢rullm¢nt and appolnlment of tru$leg8 Existing trustees and management woukl consider recruiting new trustees where an interest has been shown, and a person has become involved in the charity. This involvement could take a variety of forrffj, but would not, generally. be cA)nsldered as a Trte lo become a trustee. Ajlematlvely, perhaps where management, CSIded that addlts.onal skills were needed withln the trustee body, we might seek out a person wlth those skills with a wew to becoming involved with the chaiity. A minimum of three tnjstees must be appointed with no maximum number. GRTldd Directortrrustee S Walker DirectorlTrustee Dale: 12 May 2025 Datg.. 12 May 2025 The notes form part of these financial statements Page 3
THE HAVEN HOUSING TRUST STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31ST MARCH 2025 The trustees, who are also the dlrectors of The Haven Housing Trust for the purpose of company law, are responsible for preparing the Trustees. Report and the financial siatements in accordance with applicable law and United Kingdcffi Accounting Standarijs (United Kingdom Generaty Accepted Accwnting Practlce). Company Law requlres the trustees to prepare financial statements for each financial year whh giv8 a true and fair view of Ihe stale of affairs of thè charity and of the incoming resources and application of resources. including tho incomo and expendilure. of the tharitalAe company for that year. In Fxylng Ihese fiTrand ststements. the trustees are required to.. - select suitable accwnting pol•e8 and then appty thern consistentty., - observe the methods and Pfinciples in the Charities SORP. - mak8 Judg6rnents and eslimales Ihat are reasonable and prudent; . 81ate whetsr applicable UK Accounling StarKlard8 have bean folknved. subject to any matwi81 departur98 disdos8d and 8xplain8d in tho financial statements: and - wepare the fnancial ststements on the going concem basis unless il is inapprowiate to presume that the drity will continue in Operatn. The trustees are responsible for keeping adequale accounting records that disck)se *ith reasonabl8 8c¢xirac al any time the firncial position of the charity and enable them lo ensure that the financial statements comply wlth the Companles Act 2006. They are also responsib16 for safeguarding the assets of the charty and hence for taking reasonable Steps for the preventK)n 8nd delection of fraud and other Irregulartthes. Tho notes fomi part of these fjnandal statements Page 4
THE HAVEN HOUSING TRUST INDEPENDENT EXAMINER'S REPOltr FOR THE YEAR ENDED 31ST MARCH 2025 I rvport to the Intstees on my examin8tion of the financial ststements of The Haven Housing Trust (the tharity) for the year ended 31 March 2025. Responslbllllles and basls of report As Ihe trustees of the charity (and also Its directors ts the purposes of company law) you a responslble for the preparats'on of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the finanaal statements of the charity are not required to be audited undef Part 16 of the 2006 Act and are 61ig4)le for indeper)dent examination. I report in reswct of ry examination of the charity's financial stalements carried (xrt under section 145 of the Charities Act 2011 {the 2011 Act). In carying out my examinalion I have followed all the applicable Dlre(Xk)ns glven by the Charlty Commlssion under section 145(5)(b) of the 2011 Act. Independenl oxamln•f$ statoment I have completed my examination. I c(rfimi that rK) mattefs have crfxne to my attenth)n In conrth with examination giving me cause to believe that in any material respect: accoun9 records vme rnt kept In respect of the charlty as requlred by seclK)n 386 of ts 2006 Act; or 2. the finan(>al statements do not accord wlth those records", or 3. the financial statemenls do not comply with the accounting requirements of Se(Ai 396 of the 20[ Act other than any requirement thal the accounts glve a true and fair view which Is not a matter considered as part of an independenl examination" or 4. the financial ststements have not been prepared In accord8nL* wllh the methods ar principles of the Staternenl of RecommerKJed Pr8Cti¢e for 8ccountin9 arKI reporting by charities apFAIc8ble to charities preparing thèir accounts in a(xordance with the Finandal ReportSng Slandard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have ccfft 8cross no olher matters In conneclion with the examinalK)n to which attention sh¢)uld be drawn in this report in ordef to enable a proper understanding the fin8rK181 statements to be reached. Neil Hams FCA Bsc (Hons) Cygnet Accounting Limited 37 Rosseu Orlve Siapleford Nottingham NG9 7EG Dated: ...... The notes fofrn part of these financial statements Page 5
THE HAVEN HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDMIRE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2025 Total Funds 2025 Total Funds 2024 Note8 come and Endowm•nts fro tkmkn and l•gaclos Ch8rilable activities Other trading aththes Other income 68.158 19.467 62 65.596 18.854 43 Total Income ndlture on: Charitable activities N8t in(xJrn81(exp8nditUf8) for Ihe y8arl Net movement in funds 12,998 353 Fund balarKes al 1 April 2024 Fund balances at 31 Marth 2025 The ststemenl of financial activities indudes all gains and losses recognised in the year. All inc(xne and expendliurg derive from ry)ntinuing aciivities. Th8 Statement of financial activities also complies with ihe requirements for an In)m@ and expenditur8 aaxjurrt under the C(xnpanies Act 2006. The noles fm part of these financial statements Page 6
THE HAVEN HOUSING TRUST BALANCE SHEET 31ST MARCH 2025 2025 2024 Noles Flxed assets Tanglble a&8ets 10 1,601 2,135 Currant assets Debtors Cash at bank 8fKI in harKI 11 657 25,940 662 12.363 26,597 13.025 Crodltors: Amounts f8Iing due within one year 12 71.700 Net currnnt Ilabilftlas Totsl ass•ls Iwas currwrt LAabilities Income fvnds Unrosln'cled fvnds T4Jtal Incom• funds The company ts enlitled to exemption from audit under Seetlon 477 01 Companies Act 2006 for the year ended 31st March 2025. dlrectors acknO¥dge their responsibilities for complying with the requirements of the Compani88 Act 2(MJ6 with respect to accounting records and thé preparation of financial statements. Th• mwnb8rs have not requirod tho company to obtaln an alit of its financial statements fw th8 year ended 31st March 2025 in acc¢)rdarxx with Se(knn 476 of the Cornpanles Act 2006. These financial ststèments have been prepared in accordance with the provisions appliCae to compan1•$ subj.ect to the small companles reglme. The flnan¢lal stslements were approved by the Boarcl of Trustees on 12 May 2025 and we sIgd on Its behalf by: S Walkor Directorftnjstee Dir8ctortrn Company reglstrallon number 03229725 Page 7
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Accountlng pollcle8 Charlty Inforniatl•)n The Haven Houslng Trnsl Ss a private u)mpany Ilmited by guarantee In0)rpted In England and Wales. Th@ r8gistw8d office Is 31 Cedar Road. Forest Flelds, Nottmgham. NG7 6HZ. The members of the company a the trustees names on page 1. In the evenl ofthe charlty belng wound up. the liabih'ty in respecl of the guarantee is limited to £10 pw member of the charity. Accountlng convention The accounts have been prepared in yanCe wlth the Compardes Act 2(K)6 and "AcwJnts"ng and Rewiing by Chariti&s: Siatement of Recommended Practice appIlble io chafities weparing their counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charty is a Public Benefft Entity as defined by FRS 102. The ctarty has tsken athRntsge of the provisions in the SORP for charili8s apptyir¥J FRS 102 Update Bulletin 1 not to Prepa 8 Statement of Cash Flows. The finandal statements are prepared in sterling. which is the functional currency of thè charfty. Monetary amounts in these finandal slatements are rounded to the nearest £. The accounts have been yepared under Ihe historlcal cost (xjnvention. The wincipal accJ)unting policies ad¢Jpted are set (xrt below. Golng concern At Ihe time of appn)ving the financial statements, the trust&8s have a reasonable expectation that the charity has adequate resources lo contirxje in operational existence for the feS88ab18 future. Induded within other Cfedilors are amounts due of£70,000 and the Trustees have receNed o)nfirmat that rePaent 15 at the dis811( of the Truste88 of Haven Housing. Thus Ihe trListe8s (xjnlffiue to adopt the going concem basis of a¢countlng In preparing the financial slai8m&nt& Charttable funds Unrestricted funds are avallable for use at the discretK)n of the trustees in fufIheran of thelr charitat4e obJeth88. Designated funds comprlse unrestrlcted funds that have been sel aslde by the trustees for partlcular purposes. The aim use of each desnated fund Is set (xrt in the notes to the financial statements. R8stricted funds are subi8Ct lo Spec1 condi11cS by donors as lo how they may be used. The puryx)ses and uses of the restrKted funds are set OLrt In the notes to the financial statements. Incom• Inrne is rwnised when Ihe ¢arity is legally entiil8d to it aftar any perfomnce (LdItionS have been met. the amwnts can be measured reliably, and it is probable that income will be recelved. Cash dationS are rewnised on recelpt. Other donations are recognised once Ihe ch8rity has been nO.fied of the donatb)n, unless perfom)ance conditions require deferral of the amount. Income lax recoverable in relatM)n lo donations received und8r Gift Aid or deeds of covenant is recognised 81 Ihe tirn8 of th8 donatn. GSfts In klnd donaled for dlstribution are Induded at valuatbn and recognised as Income when they are dlstrfbuted to the projects. Glfts donated for resale are included as income when they are sokl. Donated facilities are induded at the value to the charity vthe thi8 can be quantffied and a third party is b8aritWJ the cost. No amounis are induded In the financial statements for services donated by volunleers. Page 8
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2025 Accountlng polkhs (contlnuedl Expendliure Expendlture Is recognlsed ¢J)ce there Is a legal or construcilve obllgatbn to transfer ec(wmlc benefft to a thtrd party. it Is yobatle that a transfer of economlc beneffts wll be requlred In setuement. and the arnount of the obligation can be m88sured reliably. Expendlture is dassified by aGlity. The costs of each activity are made up of the total of direct costs and shared costs, inding support costs involved in undertaking each activty. Direct costs attnbutable to a single aciivity are allocated direclly to thal activity. Shared costs which contribute to more than one actity and supwt costs 7*thich are t atttibutsble to a single activity are 8PPOrtioned belween those activilies on a basis consistenl with Ihe use of resources. Cenlral staff costs are allocated on Ihe basis of tlm8 spènL and depreoation charyJes are allo(%ted on the portion of the assefs use. Al experKllture is accounted for on an accnjals basls ar¥J has been dassified under hoadiThJs that aggregate all costs related to the category. whe o>sts cannot by direciiy attributed lo partkular hoadlngs they have baan amocated lo aclivitigs on a ba818 consistent wilh use of the reGowces. Fur¥J-ralslng costs are those Inojrred In seeklng voluntary contributions and do not indude the costs of dlsseminating infomiatlon in support of the tharitable aclivities. Support costs are costs Incurred dlrecty in support of expendiiure on the oblecls of Ihe charity and include project management Cad out at headquarters. Management and administration costs are those incurred in ¢4ne¢ll with tho administratton CA the charlty and compllance wlth consliiutlonal ar¥J slatutory requyements. Tanglblo flx•d a88•18 Tangible fixe(l assets are initially measured at cost and subsequenuy measured at cost or valuation. net of depredatK)n and any Impairrrnl losses. Oepreciation is recA>gnised so as to write off the cost or valuat#)n of a&8ets less their resKlual values over their useful lives on the following b&ses: Fumiture Computer equipment Motor vehides Equipment 50% straight lin8 25% straight line 25% reductng balance 15% strawhl kne The galn cf loss arlslffj on Ihe disposal of an asset deterniined as the difference belween the sale proceeds and the carrying value of the asset. and Is cOgnISed In the Statoment of finarKlal acllvitles. Cash and rAsh equlvalents Cash and cash equivalents include cash In hand. deposlts held at call with banks, other short-terni liquid inveslm8nts with original malurities of the months less. and bank overdfats. Bank overdrafts are shown within b(KrowlrS in ctsrrenl liab11. Basic financial assets Basic financial assets, whlch Include debtors and cash arKJ bank balances, are inilialty measured at transaction price irthding transaction wsts and are subsequently carried at amortised cost using the effective interost mothod unless the arrangement constrtutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a markot rate of inlerest. Financaal assets da?lfied as receivable within one yaar are not amortised. Baslc flnanclal Ilabllldes Basic financi81 assels, induding credllors and bank loans. are initiatly measured at transaction price unless the arrangement constitutes a financing transaction. where Ihe debt instrumenl is measured at the presenl value of the fulure payments discounted at a maTket rate ol Interest. FlnarKlal liabilleS dasslfi8<1 as payable wlthln one year arè nat amortlsed. Page 9
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Accountlng pollcles (contlnued) Trade creditor8 are obligatirns to pay for goods or services that have been acquired in the or(linary course of operatFons from suppllers. Amounts payabla are classlfied as rrent Ilabllltles If paymenl Is due wlthln ong year or less. If no( they a presented as rK)n-current Ilablllbes. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method receive Employee benefits The cost of any UnL8d holklay 6ntiUemenl is recognised in the p8fK)d bn which the empk)yee's servi(xs 8re received. Temiination benefrts are recognised immediatety as an expense when the charity is deffK)nstrebly committed to terminate Ihe employment of an emtAoyee or lo provide termination ben8fjts. Leases Renlals payabla under operating laas8s, including any leasa ine•ntlv88 r6ceived. are charged to income on a straight line basts over the temi of the relevant lease. Donallon8 and legacle$ 2025 2024 DonatK)ns and gifts All donations and leg8cies Inrne for Ix>th years were from UnreS¢t8 funds. Charftabl• actlvltles 2025 2024 Charitable tal and housing benefft incom8 68,158 All tharltable 8CtAvftias InoTh for l)oth years were from unrestricted funds. Other tradlng acllvttles 2025 2024 Merchandlsing Income 19,467 All other trading activitles In(x)me for both y8ar8 were from unfestricted fijnds. othor In¢om• 2025 2024 Bank incentives 43 All olher income for both years were fr(xn unr8StfiCt8d funds. Page 10
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Charltablo actlvllles RuMlrKJ Govemarte Total 2025 Total 2024 Staff costs Depreciation and impairment Repairs and property maintenance Rent Rates Telephone Heat and light Insurance Advertising Motor and travelling Sundry expenses Legal and professlonal fees Acccmjntlng charg88 24.701 24.701 534 7,249 12,000 7,355 1.338 12,931 957 53 5.264 187 1.120 25.555 712 19,863 12,000 7.249 12,000 7.355 1,338 12.931 957 53 579 13,210 979 159 4.261 141 187 1,120 All expendlture charitable 8cliviti8s was ft>r unrestrKted funds. None of the Ifustees (or any persons connected with Ihem) r8C8ived any remuneratDn or benefits from the charty duflng the year. The trustees ye not reimbursed lor expenses durlng th6 year. Employment costs 2025 2024 Ww and salaries 25.555 The average monthty numb8f of emNoyees during the year was as fouows: 2025 2024 There wwe rK> empkJy8es whose annual remunerat*)n was morn than £60.000. Taxatlon The charity is exempt from tax on in¢ome and galns falling withln section 505 of the Taxes Act 1988 or section 252 of the Tax81ion of Chargeable Gains Acl 1992 to the extent that these are applied to its charrtable obje£Xs. Page11
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31ST MARCH 2025 10. Tangible fixed assets Fumllure and equipment Motor vehic16S Total Cost Al 1st April 2024 Additions Disposals 3,620 12.0(Kl 15.620 At 31st March 2025 Depreclatlon At 1st April 2024 Charge for year Elimin8led on disp08813 3.620 9,86S 534 13,485 Al 31sl March 2025 3,620 10.399 14,019 Nat book valu• At 31st March 2025 At 31st Mar¢h 2024 2.135 11. Debtors: amounts falllng due wlthln one year 2025 2024 Other debt(W5 Prepayments and accnjed incoff 212 212 450 11 Credltors: amounts falllng due wlthln one year 2025 2024 Oiher creditors Acuuabs and deferred Incom8 70.000 70.000 71,700 Page 12
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARC14 2025 13. Amtysls of not ass•ts between fund8 2025 2024 Fund balances at 31 Marth 2025 are represented by. TarwJible assets Current assdsl(liabFlitss) 1,601 2.135 (43,542 14. Operatlng loa$• commllments At the reporting end dale Ihe charity h8d outstanding commitm8nts for fubjre minimwn lease payments uNler rK)nwcancella <>perating leases, which fall due as fojth: 2025 2024 wrthin ¢e year Belween hvo and five years 12,000 12.(MXI On 1 st Awil 2022. The Haven Housing Trusl entered Into a new pr(werty16ase. payThJ an annual sum of £12,IKIO for 5 years. 1 S. R•lated party transactlons Tha charity le&8es property frDm U.IL Resi¢Jenlial Investments Limiled. 8 cornpany ntroled by Mr L BlwJht, who is also a patime employee of the tharity. Rent payabl8 in the year was £12.000 {2024: £12,0(H)). The chartty atso received loans from U.K. Residential Investments Limited. The loans are unsecured. attract no interest and ar8 faf an indetefminate perio(l. At the year efKI £70.IX)O was still owed by the charity (2024: £70.000) and is included in other creditors. Remuneratlon of key management personnel The remuneration of key management personnel whiGh Ix)mwlses thè Tnjstees Is 1 (2024: £nll). Page 13