2025-09-30-accounts

ESG LHA T

LHA LONDON LTD SOCIAL IMPACT REPORT AND ACCOUNTS

2024–2025

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CONTENTS
Executive
Chair and CEO’s Message 03
01 Summary
Board of Trustees and Governance 04
Company
Profile
02
Who We Are and What We Do –
05
Aims and Objectives
Upgrading Assets 06
Social Impact – Highlights 07
Social Maximising Our Social Impact 08
03 Impact
Social Impact – A Fresh Approach 09
LHA Fund 10
Valuing Our Employees and Volunteers 13
ESG
EDI 16
LHA
Operations Building a Sustainable Future
17
04
Sustainability Strategy LHA London Ltd:
Taking Pride in Every Hostel 18
Trustees’ Review and 19-21 SW1V 1PG
Strategic Report
Finance
The Accounts, Balance Sheet and
05 22-30
Report of the Directors For the
Period Ended 30 September 2025
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CONTENTS

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LHA London Ltd:
Registered Charity No. 169428
Company Registration No. 363816
Registered Office:
54 Eccleston Square, London,
SW1V 1PG
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Company Profile 02

LHA Services Ltd: Company Registration No. 3424128 Registered Office: 54 Eccleston Square, London, SW1V 1PG

CHAIR AND CEO’S MESSAGE

Over the last year, we have made continued progress in ensuring that LHA London is a great place to live. The Executive Team, together with the Board of Trustees, has always been clear in its aim: to deliver safe, affordable and sustainable accommodation to every resident who walks through our doors and to support their accommodation needs, whether while studying or working in the heart of London. Young people are increasingly looking for both value and security, and our offer stands as a trusted choice for more than 10,000 residents each year. We have stayed true to our roots, growing sustainably while never losing sight of what matters most: our residents and the communities we serve.

While the Executive Team has remained stable, there have been some changes among the trustee group as tenures expire and new trustees are appointed. We thank all trustees for their hard work and commitment to the charity and its objectives.

This year, we have made significant strides in maintaining our buildings and enhancing the resident experience through initiatives such as kitchen upgrades and improvements to heating systems, increasing energy efficiency. We believe in doing the right thing for our staff, our planet and our residents and will continue to protect and enhance LHA's unique offer of affordable accommodation in parts of London that are often unaffordable to young people on low incomes.

Our properties continue to offer the most flexible accommodation options, ranging from dormitories to studios, from catered to self-catered and from shared facilities to en-suite rooms. We understand the pressures on young people coming to London for the first time. Our well-received LHA Rewards programme offers young people significant discounts on shared-room options, with over 1,031 young people take advantage of the scheme this year. We have listened closely to resident feedback, which has shaped the strategy and improvements we plan to roll out across our service model through our strategic plan. In the next financial year, we aim to significantly increase the number of single en-suites by adding extra rooms within an airspace development at one of our hostels.

LHA has identified the specific support needs of the most vulnerable young people in our community. Through the LHA Fund, we have supported the fight against homelessness via our partnerships with other charities, including the Albert Kennedy Trust, St Mary-le-Bow, New Horizon Youth Centre, Women and Girls Network and Cardinal Hume Centre. LHA's annual roundtable event took place in July, bringing together other charities to discuss and highlight the issues surrounding move-on accommodation. We also aim to further increase the number of young working people within our properties through closer links and referrals with Central London employers as part of our Project 150 initiative in 2027. This will allocate around 100 single en-suite rooms to charities through a referral system, further enhancing our charitable objectives.

Looking ahead, we remain committed to expanding our footprint while maintaining the quality and value we are known for. We are excited to continue evolving with our residents, offering simple, dependable stays where and when they are needed most.

Our success this year reflects listening across teams, adaptability and focus, ensuring we are driving forward the things that matter most to our workforce. Our teams work in an environment where they can be themselves, feel valued and know they are listened to at every level. We have also strengthened our employee development programmes through employee engagement initiatives and forums and are working on developing effective equality, diversity and inclusion programmes across the organisation. We thank all our teams and volunteers at the hostels, as well as our central support staff and Board of Trustees.

Together, we are building a stronger, more connected future.

I've only been here for three months, and what began as an unexpected two-week stay due to a contract clash with my rental agreement quickly turned into something much longer. I originally checked in just to have a place to stay while I looked elsewhere, but it ended up being exactly what I needed.

I've had an absolute blast staying here; it's gone far beyond what I expected.

The staff have been incredible. The night shift team has also been amazing. And not to forget the wonderful volunteers, the one-man breakfast team and the dinner ladies – they've all played a part in making this place feel so warm and welcoming.

I've felt genuinely safe here, which has always been a top priority for me when renting in London, especially as I tend to be quite particular about apartment choices.

What I love most is the social element. I've met incredible people from all over the world, spanning different ages and career paths. Together, we've built more than just a place to stay-we've created a true community. We've hosted skillsharing sessions, supported each other, shared dinners, hosted movie nights, enjoyed sunny days in the beautiful nearby Kensington Gardens and so much more.

This has become an unexpectedly beautiful chapter of my life, and I'm forever grateful – not only to the staff but to the entire experience – for making it so special. I'll truly miss it. Sandeman-Allen (affectionately known as ‘Sandy house') really is a home.

Resident – Sandeman-Allen

Tony Perkins David Conroy CEO & Company Secretary Chair of the Board of Trustees

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BOARD OF TRUSTEES AND GOVERNANCE

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LHA

We take the governance responsibilities of the Board of Trustees seriously and adhere to the Charity Commission’s Governance Code. Our Board is composed of trustees with professional qualifications spanning planning, construction, project management, economics and finance, HR, social policy and law – ensuring a broad and complementary range of expertise at the strategic level.

We continuously enhance Board performance through strategic analysis of skill sets and an independently conducted annual self-appraisal process.

Prospective trustees follow LHA’s structured three-phase selection process:

An initial interview with the Chairman and Chief Executive, including a tour of LHA facilities.

To maintain a balance of continuity, diversity and experience, we promote an orderly rotation of trustees. LHA undertakes a rigorous review process should a trustee wish to stand for a fourth term. Recruitment of new trustees is conducted via a dual approach: leveraging professional networks and engaging specialist recruitment agencies with expertise in sourcing highcalibre candidates for the charitable sector.

A formal interview with a selection panel of trustees. An invitation to shadow a Board meeting, followed by a formal appointment at the appropriate Board meeting.

Trustee development is an ongoing priority. Training includes external courses tailored to specific needs as well as regular circulation of updates and newsletters from the Charity Commission.

All new trustees undergo a formal induction process, which includes a comprehensive familiarisation pack.

The Board continues to follow Charity Commission guidelines on trustee tenure, governance training and onboarding. Each trustee completes a bi-annual Board Effectiveness Survey and appraisal with the Chair to support continuous improvement.

Our Board of Trustees

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David Conroy
Chair of the Board
F Po
David Sawer
Vice Chair of Board
F Chair
Peter Frackiewicz Petra Green
Trustee Trustee
F P S Chair
Lydia Kellett Elizabeth Nyawade
Trustee - Appointed 17/06/2025 Trustee
PoP Po Chair
Adam Poole Kam Sandhu-Shinger
Trustee Trustee
P Chair S
Helen Wyeth Bissan Zamzam
Trustee Trustee - Appointed 17/06/2025
F P
Alexandra Whiston-Dew - Vice Chair - Retired 18/03/2025 F Po
Gareth Moody - Trustee - Retired 28/03/2025 P
Sue Johnson - Trustee - Retired 23/09/2025 P
Simon Tarr - Trustee - Retired 13/11/2025 Po S
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Our Management Team

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Tony Perkins
Chief Executive/Company Secretary
Supporting P F Po S
Marsha Gair Ben Atwell Andy Gatrell
Finance Director Director of Operations Director of Estates
Supporting Supporting Supporting
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Our management team brings together a strong and diverse mix of skills, driving the charity forward with purpose and professionalism. We believe that investing in people is key to progress. While the year ahead presents challenges, we remain confident in our strategy and the capabilities of our team.

The Board of Trustees sets policy, oversees LHA’s management and provides strategic leadership to the Chief Executive and senior team. It is responsible for appointing the Chief Executive, who reports directly to the Board, and for determining senior pay in line with market benchmarks.

Trustees share collective responsibility for the organisation’s governance and longterm strategic direction, ensuring that LHA continues to deliver on its mission with integrity and impact.

The following members are co-opted trustees;

Jeremy Estop – Property Committee member; Lynn Vickery – Social Impact Committee member. Simon Tarr – Social Impact Committee member, effective 13/11/2025.

F Finance, Audit and Risk Committee S Social Impact Committee P Property Committee Po People Committee

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WHO WE ARE AND WHAT WE DO

to answer the question ‘Why does LHA exist?’. Following our ‘Why Do We Exist?' review, shaped by insights from residents, volunteers and employees, we have refined how we express our purpose and future direction.

At LHA London, we believe every young person should have the chance to pursue their ambitions. The cost of accommodation should never stand in the way of studying, working or building a better future.

Strategic Aim

As a charitable organisation, we provide affordable, safe and supportive accommodation across 14 London properties. Our inclusive long- and short-term options give young people of limited means the stability they need to thrive, the space to grow and the foundation to take confident steps towards independence.

The strategic aims established in 2022 continue to guide our activities and focus. Between now and 2028, we aim to grow our charity in terms of size, shape and impact in order to achieve our long-term goal of delivering affordable, sustainable and high-quality accommodation.

Strategic Themes

We also create more than just places to stay – we build communities. Our hostels and residences offer a welcoming environment where wellbeing comes first, friendships form easily and residents gain the confidence to explore London and its opportunities.

We will achieve this aim with the help of our four strategic themes:

Maximising Our Social Impact – deepening our reach and enhancing the difference we make to people’s lives. Empowering Our People & Teams – Investing in our staff, volunteers and partners to unlock their full potential. Taking Pride in Every Hostel – ensuring every space reflects our values, care and commitment to quality.

Charitable Objective

To relieve poverty through the provision and management of low-cost accommodation for students and working people of limited means across the UK, in line with charitable purposes recognised by English law.

Building a Sustainable Future – securing the long-term strength of our organisation, environment and community.

Rethinking Our Purpose

Measuring Success

Following the review of ‘Our Purpose’ and the focus on answering the question ‘Why Do We Exist?’ we have refined our Key Performance Indicators to ensure we are focusing on our success as a charity.

While our organisation has evolved, our charitable mission remains constant.

One of the key activities this year was a review of our vision and mission to identify the problem we are trying to solve and

WHAT IS THE PROBLEM WE’RE TRYING TO SOLVE?

The cost of accommodation in London is shutting young people out of the city’s promise of opportunity. Without affordable, secure housing, they struggle to build a sense of belonging or take the vital first steps towards independence and a better future.

OUR MISSION OUR VISION

A London where no young person is held back by the cost of accommodation and everyone has the opportunity to belong, grow and build a future.

To provide affordable, safe and supportive accommodation that gives young people, especially those of limited means, the stability to thrive, the space to grow and the foundation to take confident steps towards independence.

AIMS AND OBJECTIVES

MAXIMISING OUR SOCIAL IMPACT

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2028 2025 2024
Target Target Actual
Social
Impact 85 78 74
Score
Income
under
London 75% 75% 70%
Living Wage
Supported 75% 70% 67%
Students
OPERATIONAL KPI
Employee
82 82 82
Engagement
Volunteer
85 85 87
Engagement
£ £21.5M £18.7M £TBC
Income
Net
Promotor
50 45 40
Score
Affordable
Single 750 600 581
Rooms
5
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*Likert scale is a rating scale used to measure participants’ opinions, attitudes and motivations.

UPGRADING ASSETS

Roof Elevation Friendship House Project

Staying with LHA in Central London has been a game-changer for me. It’s given me the freedom to live in the heart of the city without the stress of expensive rent, allowing me to focus on my goals. I’ve met incredible people from all over the world, which has broadened my perspective and made London feel like home. Being so close to everything – work, culture and social life – has made me more independent, confident and open to new experiences. It’s not just a place to stay; it’s been a big part of my journey. LHA Resident

It taught me about choices, from food to meeting new people and feeling at peace when I return. LHA is not just accommodation – it's my home now. Just like my family serves food with care after a long day, LHA welcomes me in the same way. Any difficulty I face is quickly resolved. It has shaped me to believe more in good places and people. I have met amazing people here. It has made me more disciplined and has helped me achieve my goals.

LHA Resident

Sandeman-Allen - External Refurbishment

Friendship House - Kitchen Refurbishments

New Mansion - External Refurbishment

Upgraded Room Furniture Bowden Court

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SOCIAL IMPACT - HIGHLIGHTS 54% 25%

21%

710 volunteers from over 70 countries worldwide Top 10 volunteer nationalities are pinned

of residents are of residents are of residents are on in full-or partin full-or partan internship or time work. time study. apprenticeship or looking for work. 66% 83%

58%

of residents are under 30.

94%

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of residents and
of young people of residents feel
volunteers feel
benefitting from more confident about
LHA Rewards felt their financial that in London they
they could not situation now than are accepted for
have afforded to before they stayed who they are.
stay in London with LHA.
without it.
87 Over 28,000 £257,480
volunteer unique enquiries awarded in grants as
engagement score. for accommodation. part of the LHA Fund.
97.9% 71% 48% 86% 72% 71%
is the average of residents earn of residents feel of residents of residents of residents think
occupancy. the London they would have agreed that their indicate that they they would not
Living Wage or been at risk of stay with LHA have made friends have been able to
below. homelessness if helped them gain with other LHA afford to stay in
not for LHA. independence. residents. Central London if
not for LHA.
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MAXIMISING OUR SOCIAL IMPACT

Our Social Impact

As a charity, we are determined to be a driver of social benefit by providing young people with affordable, safe and secure accommodations in London.

Notably, 71% of respondents believed they could not have stayed in Central London without LHA, while 48% believed they would have been at risk of homelessness without LHA.

Accommodation that young people can afford makes Central London more accessible to all young people, sustains diverse communities and enables sustainable livelihoods.

Our overall ambition is to ensure we generate positive social impact through all our places, programmes and activities. At the same time, we want to highlight the greater social impact achieved through some of our more focused programmes and activities, which are defined in our impact grid below.

As in previous years, further analysis of scores for young people in receipt of LHA Rewards and responses from volunteers highlights that these activities generate the greatest social impact and deliver the strongest outcomes.

Our Outcomes

Through our places, programmes and activities, we create environments where people gain new experiences, foster friendships, improve their wellbeing and develop a sense of belonging.

We surveyed all current and alumni residents and volunteers who benefited from our services between October 2024 and September 2025 to understand their experiences. Once again, it was a hugely rewarding process, reflected in some of the comments you will find throughout this report. In terms of the quantitative information received, the overall score remained static at 74, with positive improvements across all indices 78 measured, bar one. gained experience Our in living in a global OVERALL city SCORE Impact 74 67 76 residents Outcomes & Impacts sustained mixed fostered and diverse friendships with communities in each other London 76 75 improved enabled wellbeing among 76 sustained residents residents felt a livelihood for Our Year sense of youths, homeless belonging to people and other London. groups living in London at a I very much appreciate LHA's affordable housing options, Glance especially given how good the locations tend to be. It has been a great help, as London Rewards housing situation is quite People: 1,031 fraught. Overnights: 168,042 Project 25 Partnering with New Horizon Youth Centre to provide move-on accommodation for under-25s.

74

I very much appreciate LHA's affordable housing options, especially given how good the locations tend to be. It has been a great help, as London housing situation is quite fraught.

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SOCIAL IMPACT

A Fresh Approach

Project 25 and the LHA Fund

Following the extensive review of the LHA fund in 2023, 2025 marked the second year of our revised approach. Two significant changes were made to the way we allocate funds to grow our social impact.

Project 25

For some time, we have been aware of the particular challenges faced by young people (under the age of 35) experiencing single-person homelessness, both due to the limitations imposed by the benefits cap and the maximum housing allowance they can claim. A further challenge is the severe lack of move-on accommodation once individuals complete a period in supported accommodation and are ready for independent living.

Project 25 provides a ring-fenced fund (£100,000 per annum) to offer subsidised accommodation in our hostels. Utilising the fund allows us to provide accommodation at Local Housing Allowance rates to young people for up to a year, supporting their transition into long-term private sector housing.

In its current form, Project 25 is a working arrangement with two existing LHA fund grantees, New Horizon Youth Centre and St Mary Le Bow. The objective is to offer 10 en-suite rooms at our Torquay House site. LHA also covers the cost of two rooms that New Horizon currently rents from St Mary Le Bow for the same purpose. As part of the arrangement, New Horizon provides wrap-around support to all young people benefiting from the project.

We welcomed the first young person to Torquay House in April 2024, and so far a total of 12 young people have benefited from the scheme.

We remain passionate about the unique opportunity to grow the scheme and support even more young people. We are committed to expanding the programme, with the aim of increasing the LHA fund’s social impact from the financial year 2027–28, providing up to £1m of annual weekly fee support for vulnerable young people referred by suitable London charities.

The LHA Fund

2025 was the second year of our new LHA fund strategy, which aims to provide larger, multi-year grants to a smaller number of organisations. Building on successful funding relationships developed over several previous years, we invited applications from organisations for a grant of up to £70k per annum for a period of three years. The criteria for grant awards were refocused on established charities working with young people with housing needs in London.

We were delighted to award grants to:

1. Albert Kennedy Trust www.akt.org.uk

AKT is a charity with a strong track record in addressing the specific needs of young LGBTQ+ people with housing difficulties. The grant will support their caseworker team.

2. Cardinal Hume Centre www.cardinalhumecentre.org.uk

Cardinal Hume Centre is a charity with a strong track record in working with young people whose complex needs require long-term targeted support to move towards independent living. The grant award will contribute to the wrap-around support they provide at their centre.

3. Women & Girls Network www.wgn.org.uk

Women & Girls Network is a charity that provides targeted, specialist support to young women while also working at a more systematic level to influence change beyond their immediate support offer. The grant will fund a specialist ‘Housing Champion’ within their advocacy and advice service and provide small financial contributions to support individual young women with expenses related to setting up a new home.

Hi, this is my third year living in an LHA property, and I wanted to take a moment to reflect on my experience. I initially stayed at Belvedere House for two years, and during that time I quickly grew fond of the environment and the sense of community. The staff at Belvedere were always approachable and helpful, which made adjusting to life there very easy. Now I am residing at Bowden Court, and after

a year here, I can genuinely say this place has become my second home. From the very beginning, I felt welcomed and comfortable, thanks to the effort put in by the management and staff.

Living in an LHA property has been a positive experience overall. Like any long-term stay, there have been occasional ups and downs, but these moments are few and far between. What stands out most is the consistency in the quality of service and care. Whether it's handling maintenance requests or resolving issues, the team has always been responsive and professional. I've also noticed the care taken to maintain the cleanliness and safety of the building, which I really appreciate.

One thing I've come to value is the genuine effort the management team puts into making this place feel like more than just temporary accommodation. It's clear that they prioritise the wellbeing and satisfaction of residents, and that goes a long way in making us feel at home.

I'm genuinely grateful for the service and overall experience LHA provides. It's been a rewarding and comfortable stay, and I look forward to continuing to live here.

Resident - Bowden Court

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LHA FUND

LHA is a long-term funder of AKT, currently providing £70,000 per year over three years to support two dedicated caseworkers in London – AKT's busiest region for referrals and live chat, accounting for 45% of all national referrals.

Key Challenges in London:

Increased case complexity (60% rise in safeguarding and complex cases).

Reduced supported housing options due to sector cuts. High proportion of refugees, asylum seekers and individuals with mental health needs.

Diversity:

72% identify as Black, Brown or People of Colour (BBPoC).

40% identify as disabled.

Ages range from 16–26, with the majority under 30.

Case Study

R.J is a trans man who fled his home country due to persecution based on their gender identity. He entered the UK earlier this year, and his asylum application was accepted, granting him leave to remain.

R.J initially settled in London but travelled to Wales to make a homelessness application, as waiting times for support for their gender transition were shorter there. He made a homelessness application in Cardiff, which was rejected immediately due to R.J. not having a local connection. The council intended to send him back to London, where he would have faced street homelessness, with no housing or ongoing homelessness application in any London local authority. This situation led to a significant deterioration in R.J’s mental health.

When R.J contacted us, he was at breaking point, stating he would rather die in Wales than return to London. His caseworker immediately raised a safeguarding concern to ensure he could access support as quickly as possible. They also began challenging the local authority in Wales for its handling of the case, which failed to fulfil its duty of care.

R.J was subsequently granted temporary accommodation by the council in Cardiff, and his mental health has improved. He has also been referred to the gender identity clinic in Cardiff, which has a much shorter wait time than the equivalent service in London. He is still awaiting the local authority's final decision on his application, and if they attempt to transfer him back to London, the caseworker will challenge this decision as potentially unlawful.

Youssef

Case Study

Adam is gay and gender-expansive and was experiencing domestic abuse from his family due to his LGBTQ+ identity. The abuse was significantly affecting his mental health, causing insomnia and signs of PTSD. With threats to his personal safety increasing, he began exploring housing options in case he needed to leave in an emergency.

Our caseworker discussed his options with him, and he shared that he wanted to live somewhere he could be himself without abuse or rejection. As he hadn't come out yet, he wanted to live with people who would be accepting of his gender and sexual identity. AKT supported him to move into a safe new home and provided a resource pack to help him purchase furniture and household items to get started. He has now fully settled in and begun creating the life he wants, inclusive of his LGBTQ+ identity.

Hamid

St Mary-le-Bow, in partnership with LHA and New Horizon, has supported young homeless people for many years by offering safe, affordable accommodation in shared flats at Elephant and Castle. New Horizon refers suitable candidates from their day centre, and St Mary-le-Bow provides a year-long placement where residents learn essential life skills, including budgeting, employment readiness, social integration and household management. Each resident is equipped with the tools and support needed to transition to independent living.

Thanks to LHA’s long-standing grants, made possible through the generosity of the Peabody Trust, St Mary-le-Bow can offer rent below market rates, ensuring stability and opportunity for vulnerable young people.

Abdool (Mauritius)

Abdool has been with St Mary-le-Bow for just over a year. He works part-time at the Caravan restaurant and continues to receive support from both St Mary-le-Bow and New Horizon. He recently completed a gardening course and is now exploring further education opportunities. Abdool is preparing to move on, having built a strong relationship with his flatmate, Youssef.

Youssef (Egypt)

Referred by New Horizon, Youssef moved in with Abdool in May 2025. He is currently working as a kitchen porter and aspires to become either a baker or an IT/cybersecurity professional. St Mary-le-Bow is helping him to focus his career path. His wage is currently low but is expected to increase when he turns 20.

Hamid (Afghanistan)

Hamid arrived in December 2024 after a difficult journey to the UK. He faced initial challenges with flatmates and household responsibilities but has since improved following a formal warning. He now works full-time and supports his family back home. St Mary-le-Bow is funding his driving test preparation to help him progress further.

Felix (Ivory Coast)

Felix, just 18, moved in May 2025 and is studying Maths and English at Southwark College while working part-time. He is passionate about tennis but faces challenges with affordability. St Mary-le-Bow provided him with a laptop, which deeply moved him. Despite some flatmate tensions, St Mary-le-Bow continues to support his development and closely monitors his progress.

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LHA FUND

CARDINAL HUME CENTRE

The Cardinal Hume Centre provides a home and 24hour support for up to 39 young people aged 16–25, including care leavers, refugees and those unable to stay with their families. Each resident has a Key Worker and receives tailored support to build confidence, independence and life skills, with the goal of moving on to more independent housing. Resettlement support is offered for those transitioning to independent living.

In 2024/25, thanks to LHA funding, the Centre housed 56 young people and supported 20 to move on to more secure or independent accommodation. LHA’s support enabled the Centre to offer specialist and therapeutic services, welcome packs and maintain a warm, safe environment. In total, 50 young people directly benefited from these services, helping them build brighter, more independent futures.

NATHAN’S* STORY

My name is Nathan*, I am 19 years old, and I have been living at the Cardinal Hume Centre for about a year and a half. When I first came here, I did not really know what to expect and was a little worried I would not be happy. As time went by, I realised everyone is really friendly and a good environment for me to be in. Now I actually look forward to coming in every day because it feels warm and welcoming, but also peaceful.

I really like how my Key Worker, Giuseppe, works with me. It does not feel like we have to meet formally all the time or that he is always in my business. Instead, he checks in and supports me when I need it. Living here, I know there is always someone I can talk to about anything, whether I am struggling or just need someone to listen. It is really nice to know that the staff are keeping me in mind and checking that I am okay.

Living at the Cardinal Hume Centre has given me what I need. When I need space, they give me it, but when I want to be around people and feel supported they are there for me. I also really enjoy spaces like the study room, where I can do work for my college course or edit videos.

Giuseppe introduced me to Gail, the Life Skills Co-ordinator at the Centre, who taught me how to meal prep and budget better. I was struggling to make healthy food on a budget, so Gail showed me how to plan meals for the week and spend less money.

Living at the Centre has given me a base to do activities and hobbies that I enjoy, such as theatre, film and photography. I would love to have a job in the future that combines this creativity with the technical side, so I am gaining good experience now. It has really helped with my confidence – I used to struggle with this, and now performing in front of people just feels normal.

I have been offered a place to study for a BSc in Computer Science at Kings College, London, starting in September. This means I will be moving out and living in halls, which I am excited for but also nervous about. I am looking forward to being around people with similar interests, but part of me is nervous and a little sad about leaving the Centre. The staff have supported me while still giving me my freedom, and I will miss them.

My dream is to complete my studies and then open my own company, eventually becoming financially independent. I would love to find a way to combine my interests in photography, theatre and computer science – that would be so cool.

LEWIS’ STORY

Lewis, a resident in our supported accommodation, kindly shared his story with us earlier this year and speaks of how different his life is now. ‘My name is Lewis, I am 22 years old, and I have lived in the Hostel for just over two years. I came here because I struggled with my mental health and when I was at the end of secondary school, it got too much for my parents to handle. It was the best thing for everyone’s safety that I lived in a place where I could get treatment. It was blurry for me, but apparently it was a crazy time.

When I first came to the hostel, it was really nerve-wracking and I was quite anxious. It was hard for me to adjust, especially living with all the other people, but the staff made it easier. Before coming here, I had some bad experiences with therapists. They would treat me like I didn’t know what I was on about, and I wanted to tell them, ‘Put the paper down, I am not just a booklet, you can’t just read up about how to fix me!’ Since being here, my mental health has been managed and improved.

I don’t even know how to describe me back then compared to now... if you met me when I first came in, you probably wouldn’t recognise me. I am past it all now and all I can do is learn from it. That person doesn’t exist anymore–I was reborn.

Now I’ve improved as much as I can here, and the next step is moving out to my own place and gaining some independence. I’ll be able to get a job, start a family and live life as everyone else does, I guess. That’s my hope: getting back on track with regular life goals, building friendships and relationships. I want to do something worthwhile.’ Since going to the Centre, Lewis regularly volunteered in the garden and is now looking for future work in horticulture.

‘I always go down to the garden, and I really enjoy it. It helps me learn life skills, and now I know how to grow my own food, which is a lot healthier. It’s one of those things where even if it doesn’t reward you now, it rewards future generations too. If I plant a tree, I might not get to see it, but my children might see it or even their children – it's serving the world. Even though I am moving out, I still want to come back once a week to volunteer in the garden.

I am looking forward to the future. I want to get involved with community green projects or have my own allotment. I would even love to get some chicks so I could raise them and then sell fresh eggs to all my neighbours. Even doing things like sharing this story shows that people think I am ready to move on. I find it hard to give myself a pat on the back, and I don’t really dwell on the change, but everyone around me is saying it, and it gives me a confidence boost.’

*Name changed to protect client identity.

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Photography by Fergus Burnett

LHA FUND

LHA is proud to lead Project 25, a flagship initiative in collaboration with New Horizon Youth Centre, tackling youth homelessness through stable, affordable housing. Based at Torquay House, the project offers high-quality, ensuite rooms at a subsidised rate of £150 per week – well below market value – to young people transitioning from supported accommodation.

Now in its second year, Project 25 combines secure housing with wrap-around support from New Horizon, including 1:1 casework and access to education, employment and health services. With over a dozen young people supported to date, LHA commits more than £32,000 annually in direct funding, alongside rent subsidies and ongoing monitoring to ensure long-term impact and sustainability.

Below, you can read two case studies from New Horizon beneficiaries, Emily and Jacob, and how a safe place to live and tailored support have helped them build life skills and secure work.

Emily’s Story

Jacob’s Story

‘After leaving supported housing, I suddenly found myself homeless. This happened because I was working full-time and, as a result, I was given 30 days’ notice to leave. With nowhere else to go, I moved in with my mum, but her small studio flat was not a long-term solution.

‘When I first arrived in NYHC, I didn’t have a job, a place to stay or a clear goal to pursue. However, everything started to change when I stepped into the centre. They helped me turn my life around in ways I couldn’t have imagined.

New Horizon helped me get a job at Pret A Manger and supported me with essentials like travel and work clothes. They also helped with my college enrolment, where I completed my GCSEs in Maths and English, passing both exams successfully. The following year, I began studying accounting and bookkeeping, which I have completed.

It was during this difficult time that I discovered New Horizon through Google. I was assessed by Chantell, who promised to let me know when a room became available. Not long after, I was offered a place in Hackney, where I lived for a year while working for the NHS for two years. I always paid my rent on time and never caused any problems — something that was recognised by Chantell, who later gave me the chance to move into LHA Project 25 at Torquay House.

After gaining experience and confidence, I felt ready for a change. The centre helped me secure an office job at a law firm, where I worked for one year and 10 months. This role allowed me to gain valuable experience and develop my professional skills further.

Living at Project 25 has been a turning point. The area is welcoming and the facilities, including the gym, have genuinely improved my wellbeing — even helping to reduce my headaches. Although I’m not currently working, I am actively searching for new opportunities, and the affordable rent here allows me to focus on rebuilding. I know that when I return to work, I’ll be able to manage comfortably.

At this point, I faced a significant challenge. While living in East Acton, the landlord asked me to leave because of planned construction work, leaving me nowhere to go.

I turned to New Horizon again for help. The Housing team stepped in and found me a wonderful place called Project 25 at Torquay House on Torquay Street in Royal Oak. It’s a modern, well-maintained building with an en-suite room where I had my own private space, including a bathroom. The facilities were excellent and the environment was clean and comfortable – a true blessing that made a big difference in my life.

During my time at Project 25, I took on a six-week role in a call centre before moving into a receptionist and administrator position at the Priory Hospital in Edmonton, a hospital that provides care for people experiencing acute mental health challenges. This role gave me valuable experience and helped me grow both personally and professionally.

During this time, I secured the position I had been striving for: Junior Accountant in the finance department. Although it was a two-month contract to gain experience, it was a step in the right direction. Now that the contract has ended, I am actively looking for my next opportunity to grow and succeed.

When my stay in Torquay came to an end, I returned to my mum’s for a short while. This gave me the chance to save money and carefully search for the right accommodation, setting the stage for the next chapter of my journey.’

My journey has been filled with challenges, but with the incredible support from New Horizon, I have overcome them and achieved milestones I once thought were out of reach.’

LHA is proud to support the Women & Girls Network UK, a vital organisation offering free, specialist services to women and girls in London who have experienced all forms of violence and abuse. Their trauma-informed approach includes advice and information, advocacy, practical support, casework and dedicated services for young women. The Network’s mission is to empower survivors, helping them heal and rebuild their lives.

In today’s climate, the rising cost of living presents significant challenges for survivors of domestic abuse, particularly in accessing essential services. Key issues include:

Transportation: Many survivors struggle to afford travel to support services, limiting their ability to engage. The Network has explored partnerships with TfL and launched a social media campaign to provide pre-loaded Oyster cards to clients.

Housing: The housing crisis has intensified the difficulty of securing safe accommodation. Demand for refuge spaces has grown, while temporary housing options remain inadequate. Survivors often face delays due to excessive documentation requirements.

Housing support: Not all housing associations have clear policies on domestic abuse or participate in reciprocal housing agreements. Caseworkers have worked proactively with housing providers to advocate for survivors and accelerate access to safe housing.

Despite these challenges, the Women & Girls Network team continues to achieve lifechanging outcomes. Two recent stories highlight the impact of their work:

Katie, a 30-year-old mother from Ealing, fled a 14-year abusive relationship and faced street homelessness, sofa surfing and significant barriers to accessing housing support. Despite initial setbacks with local authorities and ongoing harassment from her expartner, Katie received comprehensive support from the Network’s Pan-London Specialist Housing Caseworker. Through safeguarding referrals, a high-risk domestic abuse assessment and coordinated multi-agency support, including MARAC and an Independent Domestic Violence Advocate, Katie was empowered to understand her housing rights. She successfully opened a new homelessness application and was offered safe temporary accommodation for herself and her children. Katie has now accepted a permanent property and is being supported with essential items through the LHA grant. She shared:

“Thank you so so much! I feel like I'm finally getting somewhere now, I really appreciate you.”

Sarah, a 27-year-old woman from Lambeth with autism, experienced childhood abuse, rape and ongoing harassment from a neighbour’s partner. After being referred by Survivors Gateway, Sarah received tailored support from the Network’s Housing Caseworker, who adapted communication methods to suit Sarah’s neurodiversity and reduce her anxiety. A risk assessment and safety plan were developed, and a video doorbell was installed to increase her sense of security. Sarah was supported in exploring housing options that prioritised her autonomy, such as HomeSwapper, and was referred to an Independent Sexual Violence Advocate ahead of her court date. Mental health and self-help resources were also provided, respecting her readiness for therapy. Sarah expressed:

“Thank you again Lily, you’ve been amazing… Thank you for being so patient with me.”

These stories reflect the dedication and compassion of the Women & Girls Network team, and LHA is honoured to stand alongside them in their commitment to safety, dignity and justice for women and girls across London.

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----- Start of picture text -----
2024–25 Outcomes
ALL VOLUNTEERS
ONLY
78 Experience living 83
in a global city
Improved
76 83
wellbeing
Fostering
67 81
friendships
Sense of
76 belonging to 82
London
2024–25 Impacts
ALL VOLUNTEERS
ONLY
Sustaining mixed
and diverse
76 85
communities in
London
Enabling
sustainable
75 livelihood for 75
youths, homeless
people and other
groups living in
London
----- End of picture text -----

VALUING OUR VOLUNTEERS

Volunteering continues to be at the heart of who we are. It not only helps us keep accommodation affordable but also shapes the sense of belonging and community that makes LHA so special. Our volunteers bring life, warmth and diversity to every hostel, helping us make London accessible to young people from across the world.

This year, over 700 volunteers joined our programme and together contributed more than 208,000 hours of their time. Their generosity, enthusiasm and care continue to make an extraordinary difference to the people and places around them.

Our volunteer engagement score remains strong at 87, reflecting the supportive culture that exists across our hostels. Volunteers often share how welcomed and valued they feel by their hostel teams, who continue to provide day-to-day guidance and encouragement, supported by our Volunteer Lead. Many describe the experience as joining a family and speak about the confidence and new skills they gain through volunteering.

During the year, we introduced a new volunteer induction, refined internal training for hostel teams and continued to streamline our processes through our CRM to make it simpler, faster and more personal. These changes have made it easier for volunteers to settle in quickly and for teams to offer the right support at the right time.

As part of our annual Social Impact Survey, we asked volunteers the same questions as residents, and the results once again showed how transformative the experience can be. Volunteers reported strong outcomes across every area, reflecting both personal growth and community impact.

Enabling sustainable livelihood for youths, homeless people and other groups living in London

Seventy per cent of volunteers told us they would not have been able to come to Central London without the opportunity to volunteer with LHA, and 50% said they would have been at risk of homelessness had they not been able to stay with us.

----- Start of picture text -----
ALL VOLUNTEERS
ONLY
% that feel they would
not have been able to
come to stay in
71% Central London if they 70%
had not been able to
stay with LHA
% that feel they would
be at risk of
48% 50%
homelessness if they
were not able to stay
with LHA
----- End of picture text -----

These results reaffirm the value of our volunteering scheme, not only in keeping London accessible but in creating community, opportunity and hope. Volunteers gain life skills, confidence and connection while making a lasting difference to others.

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VALUING OUR VOLUNTEERS

Volunteering with LHA in Central London has been a life-changing experience for me. It has not only given me the opportunity to contribute my time and skills but also helped me grow as a person. By supporting daily operations and working alongside people from different cultures and backgrounds, I have become more confident, adaptable and open-minded. Living and volunteering in Central London has also taught me the importance of teamwork, responsibility and patience. It has helped me step out of my comfort zone, manage challenges more calmly and improve my communication skills. Beyond the work itself, being part of the LHA community has allowed me to build friendships, create lasting memories and feel a real sense of belonging in a new city. Overall, this experience has shaped me into a more independent, resilient and motivated individual. It has not only influenced the way I look at opportunities but has also given me a stronger sense of direction for my future career and personal growth.

My time volunteering with LHA has had a powerful impact on me. It has helped me grow into a more independent and selfassured person. Living and working in a shared environment has pushed me out of my comfort zone and taught me the importance of teamwork, patience, and mutual respect. I now feel more capable and confident in myself, both socially and emotionally. This experience has also made me more grateful and aware of the positive role I can play in a community. Overall, it has changed the way I see the world and myself for the better.

Through volunteering with LHA and staying in Central London, I’ve had the opportunity to engage closely with a diverse community and gain a first-hand understanding of different cultural perspectives and challenges. This experience has not only broadened my worldview but also sharpened my interpersonal and communication skills, allowing me to adapt more comfortably to new environments and people.

London has had a profound impact on me, both in terms of personal growth and life direction. Living and volunteering in the heart of such a diverse city has opened my eyes to new perspectives and ways of life, deepening my empathy and understanding of different people and communities. Working with a variety of individuals – whether fellow volunteers, staff or community members – has shown me the importance of collaboration and adaptability, as every person brings unique skills and viewpoints to the table. The experience has also given me a clearer sense of purpose and direction. Being in direct contact with those who benefit from the work I contribute to has shown me the real, tangible impact one person can have on others' lives. It’s inspired me to keep community service and social impact at the core of my future goals. In many ways, volunteering with LHA has shifted my priorities, showing me that fulfilment often comes from making a difference in others' lives, and I now feel more confident, motivated and connected to a broader community.

The experience has been quietly transformative. It reminded me of the value of simplicity, contribution and human connection — especially in a city as fast-paced as London. Living and working alongside people from different cultures reshaped how I view community and belonging. It also deepened my independence and resilience. On a personal level, the experience gave me clarity about the kind of life I want to build: one that combines creativity, purpose and freedom while staying grounded in empathy and collaboration.

Living in Central London has allowed me to immerse myself in the city's vibrant culture, providing a unique and enriching experience. This has deepened my appreciation for London and inspired me to extend my stay and continue exploring all it has to offer.

Since I started volunteering with LHA, I have had the chance to grow both personally and professionally. The work is enjoyable, and the building is modern, which makes cleaning tasks simple most of the time. Working at the reception has been a great opportunity to improve my English and learn more about hotel administration. One of my biggest achievements has been meeting people from different backgrounds. Building friendships with other team members has made my daily life better and helped me feel more at home here. Overall, this experience has helped me improve my social skills, confidence and knowledge of the hospitality industry.

This was my first time really being immersed in culture outside of the United States. I've travelled abroad before, but only for short trips in which I primarily stayed with and interacted with the people I came with. Here, most of the people I talked to and met were those of which I had met for the first time, and working together on a team with them in my opinion made it more fun. Now, I have been influenced to pick up a new language, as many of my fellow volunteers are bilingual and fluent in multiple different languages. I've also been influenced to keep travelling, and even potentially seek a visa in another country someday.

I never imagined I would have the chance to live in London, even for a short time. When Laura offered me this unexpected opportunity with LHA, I knew I had to accept it and give my best to the experience. Since 2022, I have been travelling and volunteering around the world, and LHA is my 14th volunteer experience. The chance to stay here long-term was a surprise and felt like recognition for my dedication when I volunteered at Torquay House earlier in 2024. Different from other places, Torquay House felt like home from the beginning, making me feel safe and supported. This experience has made me more confident, improved my English and opened my mind to new cultures and ideas. I am excited for the valuable experiences yet to come, as this journey is just beginning, and I am certain it will open doors to many more opportunities.

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VALUING OUR EMPLOYEES

LHA People Values

Our people values lie at the heart of everything we do and are critical to the continued growth and success of LHA.

We encourage ourselves and those around us to overcome challenges.

We are passionate about delivering an exceptional resident experience.

We take ownership when we should.

We act with integrity in everything we do.

Open and Honest

We are open to all and believe everyone should be able to express their views.

In 2024, we were overjoyed to achieve an employee engagement score of 80, surpassing all targets and expectations. This year, we are thrilled to see the score has risen even higher to an incredible 82. It reflects the strength of our teams, the trust we have built and the shared purpose that connects everyone at LHA.

Our Employee Forum has continued to grow and become one of the most meaningful parts of what we do. Colleagues from across LHA take part, sharing honest ideas and experiences that shape the way we move forward. Through the Forum, we have improved communication, introduced new benefits and created opportunities that truly reflect what matters to our people. It demonstrates the power of listening and the difference it makes when everyone feels their voice is heard.

Our Thank You Badge programme has also continued to shine. Hundreds of badges have been shared this year, celebrating teamwork, kindness and the moments that make a difference. Seeing colleagues recognise one another for their support, hard work and positivity has become part of what makes our culture so special. The Employee of the Quarter celebrations continue this spirit, giving us the opportunity to pause and thank those who go above and beyond.

What makes LHA special is not just what we do but who we are. Our people bring energy, empathy and pride to every part of our charity. Through their everyday actions, they welcome others, support one another and show the care that defines LHA. It is a community built on people who believe in opportunity for all and who make London feel a little more like home for everyone who walks through our doors.

2024 2025 Overall 80 82 Engagement 78 Leadership 84 86 My Team 88 76 Enablement 88 80 Alignment 84 78 Development 82 Reward and 74 78 Recognition I think what we do is LHA very inclusive. We have already does a great multicultural a great job supporting its team from all people. Initiatives like the backgrounds that makes Employee Forum give us a real LHA work. voice and make us feel heard. Senior managers are approachable, kind and genuinely care about their teams. It is a place where people are valued, and I truly enjoy being part of it.

WHAT OUR EMPLOYEES THINK OF LHA

LHA is a wonderful organisation that provides affordable accommodation and amazing volunteering opportunities in Central London, a place where many young people find There is clearly a community, purpose and a place to structure of support in call home. the background & the team as a whole all have a role to play, and it works. It's actually impressive.

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We take pride in our expertise.

OUR EQUALITY, DIVERSITY AND INCLUSION STATEMENT

LHA London Ltd. is committed to creating a welcoming and inclusive environment for all residents, staff and stakeholders. We recognise that diversity is one of our greatest strengths and strive to ensure everyone feels valued, respected and supported, regardless of their background or identity.

We will continue to support our board and committee members, leaders, managers and employees to demonstrate the principles of equality, diversity and inclusion in their everyday activities, roles and functions.

background or identity. During 2025, we built on the strong foundations set last year by taking further steps to embed EDI We are dedicated to embedding equality, into every part of our organisation. We diversity and inclusion into every part of our established an EDI Steering Group, comprising culture, operations and decision-making. Our trustees, members of the Executive Team and aim is to create an environment where everyone senior managers, and further developed our feels empowered to share their unique Employee Forum, made up of employees from perspectives and thrive. Guided by fairness, across all levels of the charity, to help shape our respect and opportunity, our EDI approach approach to EDI. Together, these groups have celebrates diversity, promotes equality and been instrumental in guiding our progress, strengthens the positive social impact we reviewing data and insights from our diversity deliver every day. monitoring channels, employee engagement and social impact surveys and exploring Our Social Impact – ‘Accommodation young opportunities to strengthen inclusion across LHA.

Our Social Impact – ‘Accommodation young people can afford makes Central London more accessible to all young people, sustains diverse communities and enables sustainable livelihoods.'

accessible to all young people, sustains diverse Through this collaboration, we developed a communities and enables sustainable refined EDI Strategy and a comprehensive Action livelihoods.' Plan designed to translate insight into measurable change. The plan sets out our key Our Outcomes – ‘Through our places, priorities across residents, volunteers, employees programmes and activities, we create and trustees, supported by clear accountability environments where people gain new through the RACI model, ensuring each action experiences, foster friendships with one has a responsible lead and measurable another, improve their wellbeing and develop a outcomes. sense of belonging’. This work has created a stronger and more Underpinned by our ‘People Values’, we are transparent framework for how we approach guided in everything we do and recognise that equality, diversity and inclusion. It allows us to being a diverse and inclusive employer, better track progress, celebrate achievements representative of our society, helps us deliver and address areas where representation or our purpose of providing accommodation that is belonging can be improved. safe, secure and affordable. We will continue to recruit, develop and retain the most talented As we move forward, we remain proud of the people. We seek to work in partnership with progress made and motivated by the our residents, volunteers, staff and journey ahead. Our EDI plan is a living stakeholders to create and deliver Equality commitment, one that continues A focus on protected services that meet their needs and characteristics evolving through collaboration, offer value for money. We operate reflection and our shared belief within the spirit and practice that inclusion lies at the heart Diversity of the Equality Act 2010, of everything we do at It’s about everyone! promoting a culture of respect LHA London. and dignity while actively challenging Inclusion discrimination.

As we move forward, we remain proud of the progress made and motivated by the journey ahead. Our EDI plan is a living Equality commitment, one that continues A focus on protected characteristics evolving through collaboration, reflection and our shared belief that inclusion lies at the heart Diversity of everything we do at It’s about everyone! LHA London.

Feeling valued, respected and heard

EXPLORING RESIDENT DIVERSITY AT LHA

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Gender
Marital Status
2%
9%
4% 50% 47% 0% 3%
Male Female Non-Binary Prefer not
7% to say
Religion %
78% 9
9 2
1
Single, never Prefer not to say 36 23
married
Married/civil
Living with partnership
partner (including
separated) 1
2 17
Widowed or surviving civil
partnership partner
Sexual Orientation Ethnicity
5%
6%
2% %
10.5%
39% 37% 11% 5% 5% 3%
Asian/ White Black/ Mixed/ Prefer Other
Asian African/ multiple not to ethnic
76.5% British Caribbean ethnicities say group
Education
Heterosexual/ Gay/
straight lesbian 55% 17% 12% 7%
Attended A state-run Independent or Prefer not to
Prefer not school school, fee-paying say
Bisexual outside the UK non-selective school
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5%
6%
2% %
10.5%
76.5%
Heterosexual/ Gay/
straight lesbian
Prefer not
Bisexual
to say
Another description
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6% State-run or state-funded school, selective on academic, faith or other 2% Independent or fee-paying school where I received a 90%+ means-tested bursary 1% Don’t know

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BUILDING A SUSTAINABLE SUSTAINABILITY
ESG
FUTURE STRATEGY
SIBLEGROWTH, LASTING
N I
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P P
S A
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LHA

LHA continues its rolling programme of asset investment to ensure the longterm sustainability and suitability of its property portfolio. This year, the refurbishment of all communal kitchens at Friendship House was completed. The upgrade included environmental improvements such as aerated taps, A- rated extract fans, ovens and hobs and PIR-controlled low-energy lighting. In addition, new fire safety measures, including wet chemical suppression systems, were installed to enhance the safety of residents, staff and buildings.

LHA is also progressing the development of the planning permission secured for Friendship House in Southwark. This project will deliver an additional 62 ensuite bedrooms through a rooftop extension, in partnership with Apex. A S106 agreement with the Local Authority has been completed, and detailed design work is underway, with construction planned to start in 2026. This approach provides a sustainable way to increase capacity without acquiring new land, reducing the environmental impact compared with building a new property. The new accommodation will form part of ‘Project 150’, providing subsidised housing for keyworkers within the Borough.

Key Highlights:

Sustainable rooftop extension adds 62 ensuite bedrooms without new land acquisition.

LHA remains committed to sustainability across its property portfolio, supporting the government’s goal of carbon neutrality by 2050. Working with Carbon Neutral Britain, LHA continues to measure and reduce its carbon footprint. The organisation was certified Carbon Neutral for 2023/24 and will maintain this status for 2024/25, with an estimated footprint of 875 tonnes. This increase reflects the acquisition of LHA Paddington, which added over 100 beds, offsetting the impact of energy efficiency measures such as low-energy lighting and upgraded plant systems. Further improvements are planned, including grey water systems and enhanced insulation.

LHA is also conducting a feasibility study on refurbishing its historic stock, much of which is Grade II listed or in conservation areas. This study will assess what environmental upgrades are possible within physical, statutory and financial constraints and will inform future strategy.

Key Highlights:

Certified Carbon Neutral for 2023/24 and 2024/25. Estimated carbon footprint: 875 tonnes.

Planned upgrades: grey water systems and improved insulation.

Reducing Emissions

All LHA hostels meet EPC C or above, with improvements ongoing. Recent kitchen refurbishments included A- rated ovens, hobs and extractors. Roofing and loft insulation upgrades are underway, and PIR lighting has been installed in communal areas. A wider study is examining how older assets can meet higher environmental standards through internal wall insulation, renewable technologies and glazing upgrades.

Part of Project 150 – supporting keyworkers with affordable housing.

Additional Measures:

The capital works programme has included installing timber windows at Davies Court, using natural materials rather than UPVC for sustainability and aesthetics. External redecoration has been carried out on five historic assets in Central London – New Mansion House, Holland House, Leinster House, Sandeman-Allen House and Railton House – covering cleaning, repainting and roofing repairs to maintain their appearance and structural integrity. Major mechanical and electrical works have also been completed, including renewing heating and hot water systems at New Mansion House and full replacements at Belsize House and Belsize Annex, along with external wall repairs around the Belsize grounds.

A-rated kitchen equipment installed. PIR lighting in communal areas. Studies on renewable technologies and insulation retrofits.

Reducing Waste

LHA recycles waste across all hostels and offices. At catered hostels, food waste is processed via anaerobic digestion, producing fertiliser and green energy. Non-recyclable waste is sent to an energy recovery facility, generating Refuse Derived Fuel and achieving near-zero landfill.

Waste Strategy:

Additional Improvements:

Four new bedspaces at Halpin House, plus expanded kitchen and washroom capacity.

Reception and staff areas upgraded for better functionality.

LHA’s carbon footprint for the year stands at 875 tonnes.

Food waste → fertiliser and green energy. Non-recyclable waste → energy recovery, near-zero landfill.

Saving Energy and Water

This year, LHA is installing an 8,000-litre rainwater harvesting system and continuing its shower renewal programme with low-flow taps and showers. Heating systems have been upgraded, replacing two G-rated systems with A-rated units with further replacements planned. A new energy monitoring system now tracks energy and water use remotely, enabling data-driven reductions in consumption.

Efficiency Improvements:

Rainwater harvesting system installed. Low-flow showers and taps.

Heating system upgrades and remote energy monitoring.

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TAKING PRIDE IN EVERY HOSTEL

Taking pride in every hostel

40 (+6) Net Promoter Score

We remain focused and will continue to focus on meeting and exceeding the needs and expectations of our residents.

In 2025, we maintained our highest-ever NPS score of 40, up from 34 in 2023 and 29 in 2022. This was achieved through a combination of property improvements and investment, digital transformation projects including new Computer Aided Facilities Management software, Supply Chain Management and integrated Digital Checklist software, alongside the development of our ‘Brilliant at the Basics’ training programme, which will be rolled out to all hostel staff in 2026. We’re acutely aware that there are still areas for improvement and confident that we can continue to drive further progress.

As always, the other residents and I are extremely grateful to the Belsize House management and volunteering team for their extra care, hard work, and support, providing us with a friendly, safe, and overall high-quality home. I add that I spent part of my residency at Belsize House while my country back home was going through a war, as I was also trying to finish a PhD. During this difficult period, the Belsize team (and some of its residents) treated me like family, which I remain grateful for.”

‘I’m Maricelia, and I’m so happy to be back at Torquay House ❤ I’ve been a guest here before and chose to return because I truly love it. I also volunteered at Torquay in the past, so it already feels like home to me. The building is modern, has all the amenities I need and is in a fantastic location.

What I love most is the staff; they are always helpful, attentive and quick to resolve any issues. A special thank you to Laura for her excellent support! My room is amazing and suits me perfectly. I also really enjoy the social life in the building; everything about it is just wonderful. I feel cared for, happy and at home here, and I’m grateful to LHA Torquay House for making my stay so enjoyable’.

LHA are doing a really good job of giving people a chance to survive in London, try to find a job, or pursue their dreams of living in a big city, while providing accommodation at a very reasonable price (for London) with meals, etc. To have a roof over my head is crucial. I don't know what I'd do without you. Thank you

Good value for money. Safe, clean, with all utilities included. Fast WiFi. Responsive managers.

I like living here. I feel safe here, and it helped me overcome personal, professional and financial challenges and move my life forward.

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Trustees’ Review and Strategic Report

The trustees, who are also directors of the group for the purpose of the Companies Act, submit their annual report with the consolidated balance sheet on 30 September 2025, and the consolidated statement of financial activities and consolidated statement of cash flows for the year ended on that date, approved by the Board of Trustees, on 24 February 2025. The charity is governed by its Memorandum and Articles of Association and the charity is managed by trustees who meet formally five times a year.

4 Other Minor Capital Spends:

Creating more resident space and relocating the reception at Halpin at a cost of £56,853. Installing new windows at Davies with a spend of £50,025. Building a new external boundary wall at Belsize House at a cost of £47,916.

5 Underspend on Capital Works:

Trustees and Members

The trustees and co-opted members who served during the year are listed on page 4 of this report. Additional or replacement trustees are appointed by the remaining trustees. Insurance against trustees' and officers' liabilities in relation to the charity was maintained during the year 2024/2025, as cited in the Memorandum and Articles of Association, Para 60 (1).

Strategic Report

The group achieved a surplus net incoming resources before transfers of £7,901,883 (2024: £7,753,530). Before pension adjustments, there was over £1 million surplus against budget. This surplus was created primarily due to an increase in interest income (rates did not increase as had been budgeted and capital spend was lower) and the postponement of external decoration works.

Expenditure on repairs and maintenance totalled £1,166,491 (2024; £896,141).

Donations of £222,437 (2024: £260,540) were made during the year.

Investments

Barclays Wealth and HSBC were the managers of the charity’s investment portfolio. However, no investments have been held during the year with the exception of Fixed Term Deposits of cash with Barclays and Handelsbanken.

Fixed Assets

We are pleased to provide an overview of the significant capital works completed during the financial year, demonstrating our commitment to enhancing our facilities and ensuring the continued wellbeing of our residents. The following key projects were undertaken, showcasing our dedication to maintaining and improving our housing properties:

1 Refurbishment Projects:

A spend of £129,831 at Bowden Court enabled the updating of several rooms and the conversion of some twin rooms to singles to meet resident demand.

• A full refurbishment at Railton House started in the last financial year, with a capital spend of £173,005 in this year to complete the project.

Kitchen refurbishments at Friendship House began with a budget of £400,000; £315,985 was spent in the year, with the final phase scheduled for the first quarter of the new financial year.

2 Plant Room Renovation:

New plant works at Belsize House — including both the main house and the annexe — began this year, with a spend of £155,033. The project will be completed in the new financial year.

The upgrade to the plant room and control panel at New Mansion started in August 2024, with a budget of £198,920; £128,499 was spent to complete the project during the financial year.

Some items have been moved to the 2025/26 budget.

The main underspend was the roof project at Friendship House, included in the budget with an estimated spend of £3,547,210. Planning delays meant that this project will now start in summer 2026.

These capital works not only enhance the quality of our housing accommodation but also represent a strategic investment in the wellbeing and satisfaction of our residents. We look forward to continuing these efforts in the coming budget year, ensuring our properties remain safe, comfortable and equipped to meet the evolving needs of our community.

Payment Policy

It is the Group’s policy to pay creditors in accordance with contracted terms, normally within 30 days.

Results

The net movement in funds during the year was a surplus of £8,464,883 compared with the previous year’s surplus of £3,187,655. There was an actuarial gain of £563,000 on the pension scheme. There was no adjustment to the property values this year, but a formal valuation by Colliers took place in September 2024, resulting in a revaluation deficit of £4,890,875.

Reserves

As of 30 September 2025, charitable funds stand at £29,363,923 and designated funds at £269,273,029. Within designated funds, there is a fixed asset reserve of £269,273,029 which represents the net book value of the fixed assets. All other reserves are available to maintain and develop the future work of the charity and are considered adequate by the trustees for these purposes. The reserves in the profit and loss account of LHA Services Ltd (LHAS), the subsidiary company, were £180,154 as of 30 September 2025 compared to £180,154 in 2024.

As a charity, LHA is obliged by the Charities Commission to set a policy on reserves, and this establishes a level that is appropriate for LHA for the year. LHA’s reserve policy is set to adequately support the continuation of the charity’s current activity and future capital expenditure. The charity’s aim is to monitor the reserves policy throughout the year through the budgetary process and to review the reserves policy to ensure it meets LHA’s changing needs and circumstances

Our reserves policy is reviewed annually when we review our sources of income and balance the impact of future plans, commitments, our pension schemes and any management of financial risk involved. LHA’s target reserve level is set at six months' working capital, which currently stands at approximately £4.8m. The Reserves Policy was amended during the year to reflect the charities need to be flexible with the working capital if such funds were required for a property purchase. Our current reserve levels are higher than this because we have started a major project with an expected spend in excess of £7 million, this is the roof extension at Friendship House. This gained planning permission in 2024, and construction works are planned in 2026, with 62 additional beds completed in 2027. In addition, the higher reserves figure supports LHA actively looking for other opportunities.

3 Friendship House Roof Project:

There were significant delays in this project, which has now been pushed to summer 2026. There was a spend of £227,349 which includes planning and design costs.

19

Trustees’ Review and Strategic Report

Risk Management

The trustees actively review the major risks that the charity faces on a regular basis and believe that maintaining adequate resources, combined with conducting an annual review of the control of key financial systems, will enable the charity group to cope with any future adverse conditions. The trustees reviewed the annual risk matrix in September 2025. The trustees have also examined other business operation risks faced by the charity and confirmed they have established systems to mitigate significant threats. The Finance Audit and Risk (FAR) Committee reviews and updates the Trustee Board as necessary and has identified the following as the highest risks:

The economic and political environment presents a challenging outlook characterised by pressures on margins and a diminishing scope for strategic planning. Factors such as political and regulatory changes add an additional layer of complexity, potentially impacting costs and sustainability initiatives. In response to these challenges, there is an increased emphasis on profit and loss reviews, with a focus on forecasting. The Board and EMT closely monitor these aspects with the financial director, who provides regular reports to the FAR Committee. This heightened scrutiny reflects a commitment to maintaining stability in the face of economic and political uncertainties.

• Ensuring statutory compliance across assets, operations and the workplace, particularly by focusing on safeguarding and security, is a multifaceted task. The organisation faces potential legal challenges, claims and financial losses associated with injuries, damages and other unforeseen events. To mitigate these risks, there is an ongoing review and update of policy documents and management processes. Attention is given to maintaining up-to-date H&S policies, implementing reporting procedures and conducting regular assessments overseen by the H&S Committee and monitored by the FAR Committee. Fire prevention and management controls include annual fire risk assessments, testing of disaster recovery plans and certification of fire appliances. Specific concerns, such as fire safety in Friendship House and Davies House and the potential significant capital expenditure associated with cladding renewal, are addressed through ongoing evaluations. Regular reporting from the POPC committee ensures transparency, and Board presentations include up-to-date H&S and fire assessments, affirming the commitment to maintaining statutory compliance and preventive maintenance schedules.

LHA Services Limited for 2024/25

LHA Services Ltd (LHAS), wholly owned by the charity and acting under a licence and agreement signed in 1991, fills casual room vacancies, particularly during holiday times and between long-term bookings. LHAS has a taxable trading surplus and, in accordance with the covenant signed on 1 October 1997, an amount of £245,267 is to be transferred to the charity in 2025/26.

• In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently.

• Observe the methods and principles in the Charities Statements of Recommended Practice. Make judgements and estimates that are reasonable and prudent.

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.

• Prepare the financial statements on a going concern basis unless it is appropriate to presume that the charitable company will not continue in business.

The trustees are responsible for keeping proper accounting records, which disclose, with reasonable accuracy at any time, the financial position of the charitable company and subsidiary company enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as the trustees are aware, there is no relevant audit information of which the charitable company’s auditor is unaware.

The trustees have taken all the 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

By Order of the Board

Tony Perkins Company Secretary 24 February 2026

20

LHA London Limited Independent auditor’s report to the members of LHA London Limited

Opinion

We have audited the financial statements of LHA London Limited (the ‘parent charitable company’) and its subsidiary LHA Services Limited (the ’group’) for the year ended 30 September 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

We have nothing to report in this regard.

Opinions on other matters 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 strategic report and the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the trustees’ annual report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In our opinion the financial statements:

give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 30 September 2025 and of the group’s incoming resources and application of resources, including 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.

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 charitable company 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 trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and parent charitable company'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.

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees’ annual report.

• 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:

the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or

certain disclosures of trustees’ remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees (who are also the directors of the charitable company 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in 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 there is 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.

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

21

LHA London Limited Independent auditor’s report to the members of LHA London Limited

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters which 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 any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Signed:

Roger Ogden (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 4 Victoria Square, St Albans, AL1 3TF Date: 13.03.2026

We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011 and 2022, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council.

We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

22

Financial statements for the year ended 30 September 2025

LHA London Limited

Consolidated Statement of Financial Activities

Consolidated and Parent Charity Balance Sheets

			Designated	Designated						Group		Charity
		General Fund	Funds		Total	Total		Note		2025	2024	2025	2024
		£	£		2025 £	2024 £				£	£	£	£
	Note						Fixed Assets
Income and endowments from:							Tangible Fixed Assets	9		269,273,029	268,918,124	269,273,029	268,918,124
							Investments	10		-	-	150,000	150,000
Charitable activities										269,273,029	268,918,124	269,423,029	269,068,124
Operation of hostels		18,142,985		-	18,142,985	16,920,818	Current Assets
Other trading activities	4	558,557		-	558,557	374,917	Stock Debtors	11 12		15,675 598,144	20,947 777,893	15,675 1,069,606	20,947 881,962
Investments		1,063,700		-	1,063,700	1,329,146	Short term deposits Cash at bank and in hand			28,973,788 1,914,672	20,230,181 2,127,235	28,973,788 1,243,389	20,230,181 1,826,126
										31,502,279	23,156,256	31,302,458	22,959,216
Total		19,765,242		-	19,765,242	18,524,881
Expenditure on:							Creditors: amounts falling due within one year Liabilities:	13		(2,138,356)	(1,902,311)	(2,118,689)	(1,885,425)
Raising Funds Commercial trading operations		133,717		-	133,717	206,255	Net current assets			29,363,923	21,253,945	29,183,769	21,073,791
Charitable Activities Operation of hostels	5	10,674,677	1,054,965		11,729,642	10,665,096	Net assets excluding pension asset			298,636,952	290,172,069	298,606,798	290,141,915
Total		10,808,394	1,054,965		11,863,359	10,871,351	Pension asset	14		-	-	-	-
Net income/(expenditure)		8,956,848	(1,054,965)		7,901,883	7,753,530	Net Assets			298,636,952	290,172,069	298,606,798	290,141,915
Transfers between funds		(1,409,870)	1,409,870		-	-	Unrestricted funds:
							General	15		29,363,923	21,253,945	29,333,769	21,223,791
Other recognised gains/(losses):							Designated	15		269,273,029	268,918,124	269,273,029	268,918,124
(Losses) on revaluation of fixed assets	9	-		-	-	(4,890,875)	A separate statement of financial activities and	income and expenditure account 298,636,952			298,606,798 290,172,069 are not presented for the company itself		290,141,915 following
Actuarial gains on defined benefit pension	14	563,000		-	563,000	325,000	exemptions afforded by section 408 of the Companies Act 2006.
schemes							The financial statements were approved by the	Trustees on 24th February 2026			and signed on their behalf by:
Net movement in funds		8,109,978	354,905		8,464,883	3,187,655
Reconciliation of funds:
Fund balances brought forward at 1 October 2024		21,253,945	268,918,124		290,172,069	286,984,414
							………………………………….			………………………………….
Fund carried brought forward at 30 September 2025		29,363,923	269,273,029		298,636,952	290,172,069	D Sawer Trustee			D Conroy Trustee

…………………………………. D Conroy Trustee Date: 24th February 2026

…………………………………. D Sawer Trustee Date: 24th February 2026

All amounts relate to continuing activities; there were no recognised gains or losses other than those included above.

23

LHA London Limited Consolidated Statement of Cash Flows For year ended 30 September 2025

Net cash from investing activities Cash flows from investing activities Purchase of tangible fixed assets Cash flows from operating activities Net (Expenditure)/ income for the year Adjustments for: Depreciation of tangible fixed assets Actuarial gains on defined benefit pension scheme Loss on disposal of intangible fixed assets Change in cash and cash equivalents in the year Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Net cash (used in) / generated by operating activities (Increase) in stocks (Increase) in debtors (Decrease) in creditors 22 21 21 Note

2025 £ 2024 £ 22,357,416 30,888,460 (1,409,870) (1,409,870) 7,901,883 1,054,965 - 5,272 179,749 236,045 9,940,914 (15,626,784) 37,984,200 22,357,416 (24,309,175) (24,309,175) 7,753,530 1,027,522 325,000 (797) (4,557) (5,183) (413,124) 8,683,391 8,531,044 563,000

Notes to the financial statement

1. Accounting Policies

1.3. Group accounts

These accounts consolidate the results of the company and its wholly owned subsidiary, LHA Services Limited on a line by line basis. The financial activities of the charity are disclosed in note 3 to the financial statements.

1.4. Income

Income for operation of hostels relates to income received in the letting of beds for long stays, catering income, sundry income and is shown net of value added tax and discounts.

Other trading income relates to the operations of the wholly owned trading subsidiary.

Investment income relates to the interest received from bank deposit accounts.

1.5. Expenditure

All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing LHA London Limited to the expenditure. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources. Direct costs, including directly attributable salaries, are allocated on an actual basis to the key strategic areas of activity. Overheads and other salaries are allocated between expenses headings on the basis of time spent.

1.6. Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Association and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the accounts. Investment income and gains or losses are allocated to the appropriate fund.

1.7. Valuation of properties

Functional freehold and long leasehold properties were included in the accounts at valuation for the first time in 2012/13. These have been valued by Colliers International Valuers UK LLP in September 2024. The properties will be revalued every three years.

1.8. Tangible fixed assets and depreciation

Assets costing £5,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

1.1. Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Charities SORP FRS 102 (second edition - October 2019) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and Charities Act 2011 and 2022.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Freehold and long lease buildings Nil Short leasehold land and buildings 10-20% Straight Line Furniture, fixtures and equipment 10-20% Straight Line Motor vehicles 10-20% Straight Line Computer equipment 20-33.3% Straight Line

The principal accounting policies adopted in the preparation of the accounts are set out below.

1.2 Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the group and the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the group and the company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Moveable furniture and equipment is written out of the accounts after ten years as the Trustees consider that it has a negligible residual value.

1.9. Stock

Stocks, which consist of consumables are valued at the lower of cost and net realisable value.

1.10. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of 3 months or less from the date of opening of the deposit.

24

LHA London Limited Consolidated Statement of Cash Flows For year ended 30 September 2025

1.11. Short-term deposits

Short-term deposit includes investments with a maturity of over three months but not longer than twelve months from the date of the opening of the deposit.

1.12 Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in the settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the group and the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods and services it must provide.

1.13 Leased Assets

2. Judgments in applying accounting policies and key sources of estimation uncertainty

In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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

The key estimates and assumptions made in these accounts are considered to be

Rentals under operating leases are charged on a straight line basis over the lease term.

1.14 Financial Instruments

The group and the company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the group and the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

1.15 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination

1.16. Pensions

The Charity operates a pension scheme providing benefits based on final pensionable pay. The expected cost of providing pensions, as calculated periodically by professionally qualified actuaries, is charged to the Statement of Financial Activities, so as to spread the costs of pensions over the expected remaining service lives of current employees on the basis of a constant percentage of current and estimated future earnings.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17 Taxation

• (a) Depreciation, which is provided at rates calculated to write off the cost, less the estimated residual value, of each fixed asset over its estimated useful life. This is of particular relevance to freehold properties which have not been depreciated as the residual value is deemed to be in excess of cost.

• (b) The assumptions made in the revaluation of the charitable properties. The principal assumptions are the estimated rental potential in each area, the level of demand for similar properties and the degree of discounting applied to reflect the level of shared occupancy rooms.

• (c) The pension scheme assets are valued at market rate. A pension scheme deficit is recognised in full on the balance sheet, but where there is a pension scheme asset this is not recognised unless the asset can be realised through reduced future contributions. The actuarial gains are therefore limited to the gain required to bring the liability to zero.

3 Financial activities of the charity

A summary of the financial activities undertaken by the charity is set out below:

Net income Total funds brought forward Total funds carried forward Represented by: General Funds Designated funds Total income Total expenditure on charitable activities (Losses) on revaluation of fixed assets Actuarial gains on defined benefit pension schemes	2025 £ 19,631,525 (11,729,642) 563,000 2024 £ 18,249,964 (10,496,434) (4,890,875) 325,000 -
	8,464,883 290,141,915 3,187,655 286,954,260
	298,606,798 290,141,915
	29,333,769 269,273,029 21,223,791 268,918,124

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of financial activities because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group's and company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

25

LHA London Limited Consolidated Statement of Cash Flows For year ended 30 September 2025

4 Income from other trading activities

The Charity's one wholly owned trading subsidiary, LHA Services Limited, which is incorporated in the UK, distributes all of its taxable profits to the Charity. The activities of this subsidiary are the provision of short term accommodation and catering services together with the provision of amenities to the residents of LHA London Ltd. The charity owns the entire issued share capital of 150,000 ordinary shares of £1 each. A summary of the trading results is shown below.

Profit and Loss Account Retained (loss)/Profit in subsidiary Turnover Cost of sales and administrative expenses Gross Profit Interest receivable Net profit Amounts distributed to LHA London Limited	2025 £ 558,557 2024 £ 374,917 (206,255) (316,956)
	168,662 5,780 241,601 3,666
	174,442 (174,442) 245,267 (245,267)
	- -

The assets and liabilities of the subsidiary were:

The assets and liabilities of the subsidiary were:
	2025	2024
	£	£
Current Assets	671,533	304,233
Creditors: amounts falling due within one year	(491,379)	(124,079)
Total net assets Aggregate share capital and reserves	180,154 180,154	180,154 180,154

Included in creditors are amounts payable to LHA London of £471,712 (2024 - £107,193), which have been eliminated on consolidation.

Included in administrative expenses are rent of £83,784 (2024 - £56,237) and management charges of £99,455 (2024 - £61,449) payable to LHA London Limited and these charges have been eliminated on consolidation.

5 Analysis of charitable expenditure

	Staff costs	Other	Depreciation	Total	Total
	(note 8)			2025	2024
	£	£	£	£	£
Charitable expenditure
House operating costs Support costs	2,039,179 2,490,382	5,426,125 464,476	1,050,645 4,320	8,515,949 2,959,178	7,712,397 2,658,579
Governance costs (note 6)	-	32,078	-	32,078	33,580
Donations (note 7)	-	222,437	-	222,437	260,540
Total	4,529,561	6,145,116	1,054,965	11,729,642	10,665,096

Charitable expenditure

Details of other costs

		House Operating	House Operating	Support	Total	Total
		Costs		Costs	2025	2024
		£		£	£	£
Repairs and	Maintenance	1,165,498		993	1,166,491	896,141
Utilities		1,472,283		-	1,472,283	1,340,424
Catering			504,123	-	504,123	437,324
Insurance Security			497,428 267,738	24,924 -	522,352 267,738	449,731 230,767
Rent and rates			97,300	167,396	264,696	246,909
Cleaning, laundry, waste, pest control			499,033	3,426	502,459	461,168
Other costs			922,722	267,737	1,190,459	1,049,952
		5,426,125		464,476	5,890,601	5,112,416
Governance	costs (note 6)				32,078	33,580
Donations (note 7)					222,437	260,540
Total other costs					6,145,116	5,406,536
Governance costs
Governance	costs include:				2025	2024
					£	£
Audit fees					25,635	25,300
Insurance against Trustees' and Officers' liabilities					6,009	7,456
Trustees' expenses					434	824
					32,078	33,580

6 Governance costs

26

LHA London Limited Notes to the financial statements For the year ended 30 September 2025

7 Donations

All donations were made to institutions and these are broken down as follows

	2025	2024
Albert Kennedy Trust	£ 70,000	£ 70,000
New Horizon Youth Centre St Mary Le Bow Women & Girls Network	32,780 19,000 -	32,780 14,700 70,000
Cardinal Hume	70,000	70,000
Project 25	30,657	3,060
Other	222,437	260,540
Staff costs
	2025	2024
	£	£
Wages and salaries	3,229,366	3,116,209
Social security costs	347,985	295,335
Other Pension costs	952,210	819,494
	4,529,561	4,231,038
Included in Wages and salaries costs above are compensation	payments totalling £78,869 (2024:
94,559) relating to 2 former employees
Average number of employees during the year
Head Office	19	19
Direct maintenance staff Hostel staff	7 61	7 61
	87	87
Number of employees with emoluments (excluding employer pension) in excess of £60,000:
	2025	2024
£60,000 - £70,000	-	1
£70,000 - £80,000 £80,000 - £90,000 £90,000 - £100,000 £170,000 - £180,000	1 - 2 2	- 2 - -
£180,000 - £190,000	-	1
£190,000 - £200,000	-	1

8 Staff costs

The total of employee benefits received by Key Management Personnel in 2025 is £610,851 (2024: £637,878). Key Management Personnel are the Chief Executive Officer, Finance Director, Director of Estates and Director of Operations.

9 Tangible fixed assets - Group and Charity

Cost At 1 October 2024 Additions At 30 September 2025 Depreciation At 1 October 2024 Charge for the year At 30 September 2025 Net Book Value At 30 September 2025 At 30 September 2024	- 252,608,189 Freehold land and buildings £ - - 252,608,189 252,608,189 -	- 10,184,651 Leasehold land and buildings £ - - 10,184,651 - 10,184,651	18,940,086 1,389,021 Property Improvements £	Plant and Machinery £ Total £ 694,302 20,849 282,427,228 1,409,870
			20,329,107	715,151 283,837,098
			14,060,076 13,050,410 1,009,666 6,269,031	503,993 14,564,069 269,273,029 458,694 45,299 211,158 13,509,104 1,054,965
	252,608,189	10,184,651	5,889,676	268,918,124 235,608

The Trustees undertook a valuation of all the freehold and long leasehold properties in September 2024. The valuation was undertaken by Colliers CRE and the properties were valued at £268,355,000 (this includes freehold property, leasehold properties and property improvements above).

Property improvements include £529,425 (2024: £302,075) of assets under construction.

10 Investments

10	Investments
			Group		Charity
		2025	2024	2025	2024
		£	£	£	£
	Investment in subsidiary - cost
	At 1 October 2024 and 30 September 2025	-	-	150,000	150,000
11	Stocks
			Group		Charity
		2025	2024	2025	2024
		£	£	£	£
	Household equipment and food	15,675	20,947	15,675	20,947

27

LHA London Limited Notes to the financial statements For the year ended 30 September 2025

12 Debtors Trade debtors Other debtors Amounts owned from group companies VAT recoverable Prepayments and accrued income	Group 2024 £ Charity 2025 £ 2024 £ 153,879 64,771 - - 559,243 65,657 74,659 471,712 - 457,578 153,879 64,771 107,193 - 556,119 65,657 74,659 - 250 457,578 2025 £
	598,144 777,893 1,069,606 881,962

13 Creditors: amounts falling due within one year

Trade creditors Other taxes and social security costs Amounts owed to group companies Other creditors Fees and deposits in advance	2025 £ 576,239 162,667 - 1,060	Group 2024 £ 591,511 138,985 - 65,482	2025 £ 576,220 162,667 - 1,060	Charity 2024 £ 591,511 138,985 - 65,482
Accruals	915,096	632,071	911,222	631,735
	483,294	474,262	467,520	457,712
	2,138,356	1,902,311	2,118,689	1,885,425

14 Pension commitments

The charity makes contributions to a defined contribution pension scheme on behalf of a number of employees who are not included within the defined benefit pension scheme.

Contributions in the year totalled £nil (2024: Nil).

The Charity operates a defined benefit scheme in the UK. The scheme is closed to new entrants. As a consequence the current service cost calculated under the projected unit method can be expected to increase over time, as the average age of the membership increases. A full actuarial valuation was carried out at 1 April 2021 and updated to 30 September 2025 by a qualified actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.

The Charity currently pays contributions at the rate of 41.3% of pensionable pay following the actuary valuation on 1st April 2021.

Present values of scheme liabilities, fair value of assets and surplus/(deficit)

Fair value of scheme assets Present value of scheme liabilities Surplus/(Deficit) in scheme	7,076 (6,222) 854 2025 £000 2024 £000 asset not recognised 10,306 (6,862) 3,444 asset not recognised

Reconciliation of opening and closing balances of the present value of the scheme liabilities

Scheme Liabilities at start of period Current service costs Interest cost Changes due to settlements and curtailments Changes to financial assumptions Changes in demographic assumptions Experience gains/losses on liabilities Benefits paid Scheme Liability at end of period	2024 £000 5,485 23 302 524 524 - 180 (176) 2025 £000 6,862 - 354 - (954) (68) 152 (124)
	6,862 6,222

Reconciliation of opening and closing balances of the fair value of the scheme assets

Fair value of scheme assets at start of period Interest on assets Expected return on scheme assets Contributions by employer Benefits paid Admin costs Fair value of scheme assets at end of period	2024 £000 2025 £000 10,306 527 (3,424) - (124) (209) 9,594 532 356 - (176) -
	7,076 10,306

Total expense recognised in the statement of financial activities

Total expense recognised in the statement of financial activities
	2025	2024
	£000	£000
Current service cost	-	23
Net interest Total expense recognised in the statement of financial activities	(173) ( 173)	(230) (207)
Actuarial movement recognised
Actuarial gains and losses Impact of non-recogniton of asset	2,554
movement and associated interest	(3,117) (563)

Assumptions

The assets of the scheme have been taken at market value and the liabilities have been calculated using the following principal actuarial assumptions:

Rate of discount	2025 % per annum 6.00	2024 % per annum 5.20
Inflation (RPI)	3.00	3.10
Inflation (CPI)	2.95	3.05
Salary increases	3.05	3.05
Pension increases:
Accrued before 1 July 2016	5.00	5.00
Accrued after 1 July 2016	3.05	3.05
Revaluation rate for deferred
pensioners	5.00	5.00
Commutation	Nil	Nil
Life expectancy Male retiring at age 65 in 2022 Female retiring at age 65 in 2022	22.1 24.4	22.4 24.7
Male retiring at age 65 in 2042 Female retiring at age 65 in 2042	23.1 25.5	23.4 25.9

Expected long term rate of return

The scheme's assets are invested in a unitised with profit fund. It is assumed that the long term rate of return on the fund will be 6.0% per annum (2024: 5.2%).

28

LHA London Limited Notes to the financial statements For the year ended 30 September 2025

15 Funds

Group

Company General fund Fixed asset reserve General fund Fixed asset reserve

Balance at 1 October 2024 £ Balance at 1 October 2024 £ Income £ Income £ Expenditure £ Expenditure £ Transfers £ Transfers £ Revaluation £ Revaluation £ Gains(losses) £ Gains(losses) £ Balance at 30 September 2025 £ Balance at 30 September 2025 £ 21,223,791 268,918,124 290,141,915 19,631,525 - 19,631,525 (10,674,677) (1,054,965) (11,729,642) 21,253,945 (1,409,870) 1,409,870 - - - - - - 563,000 - 563,000 29,333,769 269,273,029 298,606,798 563,000 29,363,923 269,273,029 563,000 298,636,952 268,918,124 290,172,069 19,765,242 - 19,765,242 (10,808,394) (1,054,965) (11,863,359) (1,409,870) 1,409,870 - - -

16 Analysis of group net assets between funds

Tangible fixed assets Short term deposits Cash at bank and in hand Other net current liabilities	General Funds £ Designated Funds £ Total Funds £ - 28,973,788 1,914,672 (1,524,537) 29363923 269,273,029 - - 269273029 269,273,029 28,973,788 1,914,672 (1,524,537) 298636952
	,, ,, ,,

29

LHA London Limited Notes to the financial statements For the year ended 30 September 2025

17 Operating lease commitments

At 30 September 2025 the group’s commitments under non-cancellable operating leases were as follows:

Less than 1 year Between 2 and 5 years Total	Land & Buildings 2025 2024 £ 137,281 205,922 £ 137,281 68,641
	205,922 343,203

18 Capital commitments

At 30 September 2025, the group had capital commitments of £7,462,410 (2024: £338,396) relating to property refurbishment.

19 Limited liability

The charitable company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up during the time he or she is a member, or within a year after he or she ceases to be a member, such amounts as may be required, not exceeding £10.

20 Related Party Transactions

The Trustees receive no remuneration. Travel expenses of £434 (2024: £485) were reimbursed to 4 (2024: 2) Trustees during the year.

Included in administrative expenses are rent of £83,784 (2024 - £56,237) and management charges of £99,495 (2024 - £61,449 payable to LHA London Limited by LHA Services Limited. The charges were eliminated on consolidation.

21 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
	2025	2024
	£	£
Cash in hand and at bank	1,914,672	2,127,235
Short term deposits	28,973,788	20,230,181
	30,888,460	22,357,416

22 Analysis of changes in net debt

	At 1 October 2024	Cash flows	At 30 September 2025
	£	£	£
Cash in hand and at bank	2,127,235	(212,563)	1,914,672
Short term deposits	20,230,181	8,743,607	28,973,788
	22,357,416	8,531,044	30,888,460

30

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