RegL8tered Charity No:1086450
Registered Company No: 03910612
(England and Wale5)
PARK LODGE PROJECT
(A Company limitsd by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025

PARK LODGE PROJECT
(LI￿IrrED BY GUARANTEE)
INDEX TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Page
ChaTAty Reference and Administrative D¢tails
Trustees Annual Rq)ort (Including Director's Report)
Audit Report
9-12
Statement of Financial Activities (Including Income and Expenditure Account)
13
Balance Sheet
14
Statement of C&shflows
15
Notes to the Accounts
16-23
Detailed Income & Expenditure
24

PARK LODGE PROJECT
(LlTrttTED BY GUARANTEE)
Charity Referenee and Administrntive Detalls for the year ended 31 March 2025
Charity Name:
Park Lodge Project
Charity Registration Number:
1086450
Company Registration Number: 03910612
Registered oifice and
Operational Address:
2 Central Avenue
Clarendon Park
Leicester
LE2 ITB
Trnstees (and Directors):
David Pollard
Nigel Oldman
Deborah Lockton
Rod Moorc
Maureen Dover
Sarah Oldman
Malcolm Pell
Sally Birch
Jennifer Harding
Hema Kotecha
Treasurer to 31 March 2025
Chair
Resigned 22 May 2025
Resigned 31 October 2024
Treasurer from l April 2025
Appointed 14 November 2024
Appointed 14 November 2024
Appointed 3 July 2025
Management Team:
Edward Bailey
Samantha Kozak
Gaynor QuilteT
Helen Miller
Michelle Brown
CEO (left November 2024)
Acting CEO (Dec 24 to Feb 25)
Interim CEO (from January 2025)
Eststes Manager
Registercd Service Manager
Senior Statutory Auditor:
Anilkumar Tailor
Celerica Ltd, Chartered Certified Accountants
The Old Chapel. 9A Kempson Road
Lcicester LE2 8AN
Bankers:
National Westminster
l Granby Street
Leicester
LEI 6EJ
Page 1

PARK LODGE PROJECT
{L]￿TED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31ST MARCH 2025
The trustees present their report and financia] statements of the charity for the year ended
31 March 2025. The trustees have adopted the provisions of the Ststemcnt of Recommended
Practice (SORP) Accounting and Reporting by Charities. (FRS102) in preparing the annual
financial statements of the charity.
The financial statements have been prepared in accordancc with the accounting policies set
out in the notes to the accounts and cornply with the charity governing document, the Charities
Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in th¢ UK and R¢public of freland PublisheAI in October 2019 (second.
edition).
Trustees of the Charity
The directors of the charitable company are also its trnstees for the purpose of Charitable law.
The trustees who have served during the year and sin¢¢ the year end are as follows:
Rod Moore
Sarah 01(Iman
David Pollard
Treasurer to 31.3.2025 Malcolm PeIl
Nigel Oldman
Chair
Jennifer Harding Appointed 14.11.2024
Deborah Lockton Resigned 22.5.2025
Sally Birch
Appointed 14.11.2024
Maureen Dover
Resigned 31.10.2024 Hema Kotecha
Appointed 03.072025
Treasur￿ from 1.4.2025
Objectives and Activities
Park Lodge Project aims to cmpower young people to develop the skills to live independently
through the provision of supported housing. We will do this by ensuring:
l Every young person applying for accommodation gets fair and equal access.
2 All our staff are DBS checked and we have a clear Safeguarding Policy which is regularly
monitored and updated.
3 All our staff have the necessary skills. knowl¢dge and attitude to deliver the standard of
service that we strive for.
4 Our accommodation is fit for PUTpose and w¢ strive to improve the standard wh¢r¢v¢r
possible.
5 We identify and apply, where possible. for local, regional and national funding opportunities
that will further support and develop our work with young people.
6 Every young person has an individual support plan that identifies their health, education.
trainingjemployment needs and opportunities.
Page 2

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLIIDING DIRECTOR'S REPORT)
FOR THE YEAR EM)ED 31ST MARCH 2025 (CONTINtIED)
Objectives and Activltfes (Continued)
The aims of Park Lodge Project
Reduce homeIessnes4 repeat homelessness and risks of homelessness within the city,
including offering advice. guidance and support.
Offer safe and nurturing accommodatio￿ providing a stable living expcrience to thosc in
need primarily young people.
Support service users to develop positivc relationships and gain life skills to live
independently and maintain tenancies.
Public Benefit Statement
The Trustses bave considered the generaI guidance on public benefit issued by the Charities
Commission and hav¢ taken due regard of that guidance. The Trustees consider they aTe satisfied
that the charity's a¢tivities do provide a wide public benefit.
Strate Ic Re ort
Acblevements and Perforniallce
The main areas of charitable activity are the provision of supported accommodation, advice and
infonnation in housing related suppor¢ life skills, education and training and resettlement of
homeless young people.
Funding for the Project is through commissiolled bed spaces by Leicester City and other Authorities,
Children and Young People's Services, Housing B¢nefrt, young people's contributions, grants and
donations.
We provided support to a totsl of 92 young people. We successfully welcomed 69 new young people
across our two Hubs, with 33 joining Hinckley Road Hub and 36 at the Central Avenue Hub.
Our focus on positive outcomes has been a great success. with 43 young people making a positive
move into independent accommodation. These positive move-ons included young people
transitioning into their own independent accommodation. rebuilding relationships with family to
return home, and moving on to atiend university.
There were 20 negative move-ons. Our team rernains committed to understanding and addressing the
factors behind these outcomes. tn all cases, young people who experienced a negative move-on
received support to find alternative accommodation.
In addition to our core housing supporL we have been dedicated to enriching the lives of young
people through vaTiOUS activities and celebrations. We hosted 14 summer activities. organised 6
cultural celebrations, and marked 19 national days throughout the year, providing valuable
opportunities for community building and personal development and growth.
Page 3

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR EIYDED 31ST MARCH 2025 (CONTINUED)
Financial Review
During the year, the charity made a net surplus of £147.393 (2024: £98.060).
This year we were delighted to open our employment house on Imperial Avenue due to the
generosity of The Abstract Foundation. We have handed back Beatrice Road and refitrbished
Knighton Fields Road. We continue to build our propety portfolio of leased and owned homes.
Reserves Po]icy
The Trustees have examined the charity's requirements for reserves in light of the risks to the
organisation. It has established a policy whereby the reserves are invested at National Weskninster
Bank in a high intsrest deposit account. The level of reserves have remained steady despite the
heavy repairs and refiwbishment of the Hinckley Road propety. The Trustees have prioritised the
need to build up cash reserves to equate to 6-8 months average running costs of the Project and
seek additional sources of funding should the Project lose its current funding sources. The
Trustees consider that this is a prudent measure to take place should existing activities be curtailed.
The charity's unrestricted r¢serves at the end of th¢ financial year stood at £1,197,406 (2024:
£1.200,428). Of this £432,842 (2024: £469,018) has been allocated to vaTiOUS designated funds,
and £150,415 (2024.. £nil) is held in restricted ￿llds. This leaves £764,564 (2024: £731.410) of
unrestricted funds.
The trustees are continually seeking for other funding to facilitste reserves to cover approximately
6 - 8 months total expenditure. At the year end the charity had approximafrly 4 months of
expenditure held in unrestricted reserves. The policy is a rolling policy reviewed annually in view
of the risks litiked with the properties and the potential legislative changes that can be implemented
at any given time.
Plans for Future Periods
The charity plans to Continue the activities outlined above in the forthcoming years subject to the
continuance of satisfactory funding arrangements. We have continued to develop the purchased
properties and enhance ow financial stsbility. Current developments are centred on the West End
of Leicester, where property is SI￿lfICant1Y cheaper than in Clarendon Park.
From April 2022, Park Lodge Project became the Trustee of St Michael's Housing TrusL a
Tegistered charity (number 504340) and registered with Social Housing (number H1416). Our plan
is to continue to develop these properties as we have young people using these properties.
We are also considering the purchase of our long established hubs in Central Avenue. This would bi
a great achievement for the charity as we have operated from here for many years.
Pag8 4

PARK LODGE PROJECT
(LI1￿[TED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Structure, GovernaDee & Management
Governing Document
The organisation is a charitsble Company limited by guarantee, incorporated on 20 January 2000 and
registered as a charity on 3rd May 2001. The company was established under a Memorandum of Articles
which estsblished the objects and powers of the charitable company and is governed under its Articles of
Association. In the event of the company being wound up members are required to contribute an amount
not exceeding £10.
The directors of the company are also charity trustses for the purposes of charity law and under the
company's Articles of Association.
One third of the trnstees or a minimum of three are required to stand for re-election at each Annual
Genera] Meetlng on a rotsting basis.
Due to the nature of the objectives of the Project much of the charrws work focuses upon young people.
The Trustees seek to ensure that the needs of this group are appropriately ￿flected through the diversity
of the trustee board. To enhance the potential pool of trustees, the charity seeks to identify young people
who have been homeless and would be willing to become trustses and use their own experiences to assist
the charity.
The more traditional business skills are well represented by the Tn￿e¢s. In an effort to maintain a broad
mix of skills, Trustees are requested to provide a list of their skills and in the event of particular skills
being lost due to retiremen¢ individua]s are approached to offer themselves for election as Trustees.
Most trustees are familiar with the practical work of the charity as the charity has worked in partnership
with them in a variety of fields to enhance the support provision provided to the young peopl¢.
New trustees are invited and encouraged to attend an induction Course to familiarise themselves with the
charity and the context within which it operates. This is led by the Chief Executive Officer and overseen
by the Chair of the Trustees and covers:
A tour of all of the Projecfs properties.
The obligations of the Trustees.
The policies and procedures and other documents including the Memorandum and Articles of
Association.
Resourcing and the current financial position as set out in the latest publish￿ accounts.
Future plans and objectives.
Inforniation Pack
Further inforniation is provided in a pack prepared from various Charity Commission documents and the
Charity Commission's website guide 'An Essential Trustee,.
Additional training, if required, is sourced and paid for by the Project or delivered by the Chief Executive
otyicer.
Page 5

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Risk Management
The Trustees have now adopted a new risk rnapping matrix that covers all aspects of the charitys
work and fornis part of a f(Kused discussion at cach board of Trnstee meetin&
During the year we have reviewed and updated our financial procedures and introduced a
business contingency plan.
As part of our ongoing governance to ensure quality and consistency, we have introduced a
planned schedule for reviewing our policies on a systematic basis.
Organisational Structure
Park Lodge Project currently has 8 Trustees who meet quarterly and are responsible for the
strategic direction of the charity, the scrutiny of the strat¢gy and support of people and
reputation of the the charity. The t￿￿e¢S come from a variety of Professional backgrounds
relevant to the work of the charity.
The charity has a Finance Sub-committee who meet quarterly, a Fundraising Committee, and
various adhoc task and finish groups. In the year to 31 March 2025, this has included a
committee to support with OFSTED registration.
The day to day responsibility for the provision of services is delegated to the Chief Executive
Officer, who is supp)rted by the Registered Service Manager and Estates Manager. There are
Key Perforniance Indicators for all services, and a monthly managers, meeting that provides
support and challenge to ensure accountability and compliance.
We have service managers for the Central Avenue and Hinckley Road Hubs. providing care and
support to young people through the line management of support staff.
Our Referral & Allocations and Housing Management Team ensure compliance with our legal
obligations.
Parthership Working
To enable the charity to achieve its chaTitsble Objective￿ the charity operates within local and
national guidelines. At a national level the Prnject is steered by the Department of Housing,
Communities and Local Government strategy to reduce homelcssness. Wc are in the process of
registering with OFSTED. At a local level the Project works wtthin Leicestcr City's
Homelessness Strategy and the Lcicester City and Leicestershire County Council's Children and
Young People's Services guidelines. Park Lodge Project continues to establish and improve links
with other organisations, local authorities elsewhere in the county. and the community to
identify policy development and prospective funding opportunities to improve servi¢es to all
service users.
Page 6

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
TRUSTEES ANNUAL REPORT (INCLUDllYG DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
Statement of Trnstees, Responsibilities
The Trustees (who are also dircctors of the Park L(xlge Project for the purposes of company law)
are responsible for preparing the Trustces, Report and fmancial statements in accordance with
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the trustees to prepare fmancial statemcnts for each f￿anCIal year. which
give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources of the charitsble company for the year.
In preparing those financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and prAnciples in the Charities SORP 2019 (FRS 102).
make judgements and estimates that are reasonable and prudent.
stste whether applicable UK Accounting Standards have been followe& subject to any
material departures disclosed and explained in the f￿ancial statements.
prepare the fInancial statements on the going concern basis unless it is inappropTiate to
presume that the company will continue in operntion.
The trustees are responsible for kceping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the company and to enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding thc assets of thc charitablc company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as we are aware:
There is no relevant audit inforniation of which th¢ charitable companys auditor is unaware
and
the trustees have taken all steps that they ought to have taken to make themselves aware
of any relevant audit inforniation and t() establish that the auditor is unaware of that
inforn]ation.
Page 7

PARK LODGE PROJECT
(LIMITED BY GUARANfEE)
TRUSTEES AIgNUAL REPORT (INCLUDING DIRE￿oR's REPORT)
FOR THE YEAR ENDED 31ST MARCH 2025 (CONTINUED)
This report has been prepared in accordance with the Statement of Recommended Practice
Accounting and Reportlng by Clwities 2019 (FRS 102) and in accordance with the special
pmvisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the trustees and signed on their behalf by:
Mrs Sarah Oldman
Dated".
13.11.25
Page 8

PARK LODGE PROJECT
(LIMfTED BY GUARANTEE)
INDEPEIYDENT AIJDITOR'S REPORT
TO THE MEMBERS OF PARK LODGE PROJECT
FOR THE YEAR ENDED 31 MARCH 2025
Oplnion
W¢ have audited the financial ststements of Park LA)dge Project (the '¢haritable company.)
for the year ended 31 March 2025 which comprise The Ststement of Financial Activities,
Balance Shee¢ Cashflow Statement and notes to the fllmncial statements, including significant
accounting policies. The fmancial reporting framework that has been applied in their preparntion
is applicable law and United Kingdom Accounting Standards, including Financial Repx)rting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the stste of the charitable company's affairs as at
31 March 2025, and of its incoming resour¢¢s and application of resources,
Including its income and expenditure. for the year then ended.
have been properly prepared in accordance with United Kingdom GeneraJly
Accepted Accounting Practice" and
have been prepared in accordance with the requirements of the Companies Act 2(K)6.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing
(UK) asAs (UK)) and applicable law. Our responsibilities under those standards are
further described in the auditor 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 evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng 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 ststements is
appropriate.
Based on the work we have perfornled. we have not identified any material uncertainties
relating to events or conditions that. individually or collectively. may cast significant
doubt on the 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.
Our responsibilities and the responsibilities of the trustees with respect to going concern
are described in the relevant sections of this report.
Page 9

PARK LODGE PROJECT
(LIMITED BY GUAII4NTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE ￿￿mBERs OF PARK LODGE PROJECT
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
Other information
The other infornlation comprises the infonnation included in the trustees annual repo¢ other than
the financial ststsments and our auditor's report thereon. The trustees are responsible for the other
infonnation contained within the annual re￿rt. Our opinion on the fmancial statements does not
cover the other inforn]ation and, except to the extent otherwise explicitly stated in our report we
do not express any forni of assurance conclusion thereon. Our responsibility is to read the other
inforn]ation and, in doing so, consider whether the other infonnation is materially inconsistent
with the financial statements or our knowledge obtained in the course of the audit or otherwise
appears to be materially misststed. If we identify such material inconsistencies or apparent matsrial
misstatements, we are required to deternine whether this gives rise to a material misstatement
in the financial statements themselves. If. based on the work we have perforn]e& we conclude that
there is a material misstatement of this other inforn￿ti0n, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters preKribed by the Companies Act 2006
In our opinion, based on the Work undertaken in the course of the audit:
the inforniation given in the trustees, report (incorporating the directors, report) for the
fmancial year for which the financial statements are prepared is consistent with the financial
statements" and
* the directors, report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exceptloll
tn the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audiL we have not identified material misstatements in the directors,
report.
We have nothing to report in respect of the following matters in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kepL or returns adequate for our audit have not
been received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and rett]rns' or
certain disclosures of directors, remuneration specified by law are not made. or
we have not received all the inforniation and explanations we require for our audit. or
the tNstees were not entitled to prepare the financial statements in accordance with the small
companies, regime and tak¢ advantsge of the small companies. exemptions in preparing the
directors, report.
Page 10

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
INDEPENDEIYT AUDITOR'S REPORT
TO THE ME￿BERs OF PARK LODGE PROJECT
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
Responsibilities of trustees
As cxplained more fully in the trustees, reSponsi￿111t1eS statement set out on pagc 7, the trustees
(who are also the directors of the charitsble company for the purposes of company law) arc
responsible for the preparation of the financial statcments and for being satisfied that they give a
trne and fair view, and for such internaI control as the trustecs deterniine is necessary to ¢nable the
preparation of financial statements that are free from material misstatemenl whether due to fraud
or ermr.
In preparing the financial statements, the trustces are rcsponsible for assessing the 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 charitable company or to cease operations. OT have no r¢alistic alternative but to do so.
Auditor responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether du¢ to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economi¢ decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We desigr
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:
We gained an understanding of the legal and regulatory framework applicable to the company and
the industy in which it operates and, considered the risk of acts by Management which werc
contrary to applicable laws and reguIations. including fraud.
We made enquiries of the Directors to obtain further understanding of risks of non-compliance.
We focuscd on laws and regulations that could give risc to a material misstatement in the financial
statements.
Our tests included, but were not limited to:
obtaining an understanding of the applicable legal and rcgulatory framework and how the board
is Cotnplying with that framework.
assessing the susceptibility of the financial statements to material misstatemenL including how
fraud rnight occur.
identifying which laws and regulations are significant in the context of the board.
enquiries of management regarding known or suspect¢d instances of non-compliance with laws
and regulations"
reviewing the journals to ensure they have been applied correctly
Page 11

PARK LODGE PROJECT
(LIMrrED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PARK LODGE PROJECT
FOR THE YEAR ENDED 31 MARCH 2025 (CONTI￿uED)
Auditor responsibilities for the audit of the financial statements (Continued)
review of minutes of the Board meetings throughout the year.
obtaining an understanding of the control environment in place to prevent and detect
irregularities.
agreement of the financial ststement disclosures to underlying supporting documentstion. and
considering whether the audit team collectively has the appropriate competence and capabilities
to identify or recognise non-compliance with laws and regulations.
Our audit procedures were designed to respond to risks of material misstatement in th¢ financial
statements, reCo￿ls1ng that the risk of not detecting a material misstatement due to fraud is
higher than the risk of not detecting one resulling from error. as fraud may involve deliberate
concealment by, for example, forgery, misrepresentstions or through collusion.
There are inherent limitations in the audit procedures perfornied and the further removed
non-compliance with laws and regulations is from the events and transactions reflected in the
fmancial statements, the less likejy we are to become aware of it.
A further description of our responsibilities is available on the FRC'S website at: https:/lwww.frc.
org.uldauditorslaudit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fUdescription-of-the
-audito￿/0E2o/o8O % 99s-responsibilities-for This description forn]s part of our auditor's 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
intemal control that we identify during our audit.
Use of our report
This report is made solely to the charitsble company's memb¢T% as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit WOL* has been undertaken so that we
might stste to the charitable company's members thos¢ matters we are required to state to them in
an auditor's report and for no other purpose. To the fullest extent pem]itted by law, we do not
accept or assume responsibility to anyone other than the charitabIe company and the charitable
company's members as a body. for OUT audit work, for this r¢por¢ or for the opinions we have
forn)ed.
ANILKUMAR TAILOR (SEMOR STATUTORY AUDITOR)
FOR AND ON BEHALF OF CELERICA LIMITED (STATUTORY AUDITOR)
FIRST FLOOR
THE OLD CHAPEL
9A KEMPSON ROAD
LEICESTER
LE2 8AN
Dated:
14/11 /15
Page 12

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
(Including income and expendlture Vdceount)
202
2025
2025
2025
2024
Ilnregtrirted
D¢5i tt#ted ReBtrictsd
Funds
F¥nds
URr¢strieted
Totsl
Note
Funds
Funds
Funds
Income and endowments
Voluntary income
Charitable activities
Investment income
31,360
2,171.314
20
197,000
228,360
2,171,314
20
21,489
1,821.237
18
Totsl Income and endowments
Expenditure on:
2302,694
197,000
2J99,694
1042,744
Raising fimds
Charitable activities
2205,716
46,585
2,252,301
1,744,684
Totsl expenditure
2,205,716
46,585
2252JOI
1,744,684
Net (deficlt) fincome
(3,022)
150,415
147,393
98,060
Trnnsfer between ￿lld8
36,176
(36.176)
Net movements In funds
33,154
(36.176)
150,415
147,393
98,060
Reeonciliation of funds:
Total funds brought forward
Total funds carried fonvard
731.410
469.018
1,200,428
1,102J68
764.564
432,842
150,415
lJ47.821
1,200,428
All fJguK8 relate to continuing operations.
There were no recognised gains or losses for the ￿￿rent or previous period other than as stated above.
The movement in funds is du¢ to the net incoming resources for the year.
The notes on pages 16 to 23 fomi part of these accounts
Page 13

PARK LODGE PROJECT
(LLMrrED BY GUARAYfEE)
Reglstered conjpany Dumber 03910612
BALANCE SHEET AS AT 31 MARCH 2025
2025
2024
T4ott
FIXED ASSETS
12
1,369,695
1,370,225
CURRENT ASSETS
Debtors & prepayments
Cash at bank
Cash in l]and
437J58
136,177
674
574209
309,430
98,477
33
407,940
CURREiYf LIABILITIES
Creditors
14
163.866
163,866
120,998
120,998
TOTAL ASSETS LESS CURRENT LIABILITILI
410J43
286,942
Creditors: amounts falling due after one year 15
(432217)
(456,739)
NET A&SETS
lJ47 821
1,200 428
Unrestricted
Designated
Restricted
18
764,564
432,842
150,415
lJ47 821
731,410
469.018
18
18
1,200,428
Approved by the Management Committee on 13 November 2025 and signed on its behalf by:
Sarah Oldmall
The notes on pages 16 to 23 forn] part of these accounts
Page 14

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
Registered eompany Dumber 03910612
CASHFLOW STATEMENT AS AT 31 MARCH 2025
2025
2024
Cash floiy from operatlng activftles
Net movement in fill]ds
Depreciation of tangible fixed assets
(Increase} in debtors
Incre&ge in creditors
Bank interest received
Bank interest paid
147,393
2,519
(127,928)
40,579
(20)
30,911
98,060
1,116
(195.773)
36.143
(18)
33,139
Iyet cash flow from operatiug activities
93,454
(27,333)
Cash flow from investlng actlvAtles
Purchase of tangible fixed assets
terest received
(1,989)
20
(4,599)
18
Net cash flow from investing aetivities
(1,969)
(4,581)
Cash Ilow from fmancing activities
Repayment of long tenn loans
tnterest paid
(22,233)
(30,911)
(19,696)
(33,139)
Net casb flow from financlng aetlvttles
{53,144}
(52.835)
Net incrvase (decrease) ID cash and c4sh equivalents
38,341
(84,749)
Cash and tash equivalents at l April 2024
98.510
183259
Casb and cash equlvalents at 31 Marcb 2025
136 851
Cash and ¢ash equivalents tonslsts of:
Cash at bank and in hand
136,851
98,510
Cash and eash equfvaknts at 31 March 2025
136,851
98,510
Page 15

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR EISDED 31 TrL4RCH 2025
l Accounting Policies
l. Summary of significant accounting policies
General inforniation and basRS of preparation
Park Lodge Project is a registsred charity in England and Wales and also a company that
is limited by guarantee. In the event of the charity being wound up, the liability in respect
of the guarantee is limited to £ l O per membcr of the Charity. The address of the charity's
registered otTice is given on page l of these fmancial statements. The nature of the charity's
operations and principal activities are d¢tsiled on page 2-3 of these fll]ancial ststem¢Dts.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements
have been prepared in accordance with Accounting and Reporting by Charities: Stat¢rnent
of Recommended Pra¢tice applicable to charities pr¢paring their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued
in October 2019, the Financial ReFM)rting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102). the Charities Act 2011, the Companies Act 2006 and UK
Generally Accepted Accounting PTactice.
The financial statements have been prepared to give a "true and fair" view and have
departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent
required to provide a "true and fair" view. This departure has involved following the 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 issued in October 2019 rather than the Accounting
and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005
which has since been withdrawn.
The financial statements are prcpared on a going concern basis under the historical cost
onvention. modified to include certain items at fair value where considered necessary. The
financial statements are presented in sterling which is the functional curr¢ncy of the charity
and rounded to the nearest pound.
b Funds
Unrcstricted fimds are available for use at the discretion of the trustees in fLwth¢rance of the
general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by th¢ trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the
financial statements.
Page 16

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (COIYTINUED)
l Accounting Policies (Continued)
l. Summary of significant accounting policies (Continued)
b Funds (Continued)
Restricted fimds are funds which are to be used in accordance with specific restrictions
imposed by donors or which have been raised by the charity for particular purposes. The
cost of raising and administering such fimds are charged against the specific fund. The aim
and use of each restricted fimd is set out in the notes to the financial statements.
Illcome recognition
All incoming resources are included in the Stat¢rnent of Financial Activities (SOFA) when the
charity is legally entitled to the income aft¢T any perforniance conditions have been met,
the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the
settlement date in writing. If there are conditions attached to the donation and this requires
a level of perforniance before entitlement can be obtsin¢d then income is def¢￿ed until
those conditions are fully met or the fulfilment of those conditions is within the control of the
charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are r¢cognised in income at their fair
value when their economic benefit is probable, it can be measured reliably and the charity
has control over the item. Fair value is detennined on the basis of the value of the gift to
the charity. A corresponding amount is recognised in expenditure.
No athount of time is included in the financial statements for volunteer time in line with SORP
FRS (102). Further detail is given in the Trustees Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are
included in stock and donations in the financial ststements upon receipt. If it is impracticable
to assess the fair va]u¢ at receipt or if the costs to undertak¢ such a valuation outweigh any
benefits then th¢ fair value is recognised as a component of donations when it is distributed
and an equivalent amount recognised as charitable expenditure.
Gifts in kind donated for resale are included at fair value, being the expected proceeds from
sale less the expected cost of the sale. Where it is impracticable to fair value items due to
the volume of low value items they are not recognised in the financial statements until sold.
Fixed assets gifts in kind are recognised when receivable and are included at fair value. They
are not deferred over the life of the asset.
Page 17

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (CONfJNuED)
l Accounting Policies (Continued)
l. Summary of signlficant accounting policies (Continued)
Income recognition (Continued)
For Icgacies. entitlement is the earlier of the charity being notified of an impending distribution
or the legacy being received. At this wint income is rccognised. On occasion, legacics will
bc notified to the charity however it is not possible to measure the amount expected to be
distributd on these occasions, the legacy is treated as a contingent ass￿ and disclosed.
Incom¢ from trading activities includes income earned from fundraising events and trading
activities to raise funds for the Charity. Income is received in exchange for supplying goods
and servi¢es in order to raise fimds and is recO￿lSed when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as interest.
Interest income is recognised using the effective interest method. Any dividend and rent
income is recognised as the charity's right to receive payment is estsblished.
d Expenditure reeognitfioll
All expendithff is accounted for on an accruals basis and has been classified under
headings that aggregate all costs related to the category. Expenditure is recognised where
there is a legal or constructive obligation to make payments to third parties, it is probable
that the settlement will be required and the amount of the obligation can be measured
reliably. It is categorised under the following headings:
Cost of raising funds
Expenditure on charitable activities
Irrecoverable VAT is charged as an expense against thc activity for which the expenditure
arose.
Support costs allocation
Support costs are those that assist the work of the charity but do not directly repr¢sent
charitable activities and include office costs, governanc¢ costs and administrative costs.
Th¢y are incurred directly in support of expenditure on the objects of the charity.
Fundraising costs are those incurred in s¢eking voluntary contributions and do not iDclude
the costs of disseminating infornlation in support of the charitable activities.
The analysis of these costs is in included in note 6.
Page 18

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR EIYDED 31 MARCH 2025 (coNfiNUED)
l Accounting Polities (Continued)
l. Summary of significant accounting polici￿ (Continued)
f Tangible r￿ed assets
Thc accounting policy sceks to capitalise such fixed assets that arc of continued use to the
and administration of the ChaTity and provides depreciation thercon as follows:
Frechold Properties
Improvement to Freehold Properties
Computer Equipment
Fixtures & Fittings
Not Depreciated
Not Depreciated
33.33Q/o on cost
- 25/0 on cost
The fr¢ehold propety and improvements have not been dq)reciated since it is the opinion of
the trustees that it's market value is in excess of its book value and they are maintained to a
good standard. The Companies Act 2006 and FRS102 requires depreciation to be charged on
all tangible f￿ed assets, but in the opinion of the trustees, the valuation as stated provides a
true and fair view.
Assets that relate to direct charitable expenditure for residents continue to be written off at the
time of purchase. Thes¢ items will continue to have very little residual value.
g Provisions
Provisions are recognised when the clwity has an obligation at the balance sheet date as
a result of a past evenL It is probable that an oufflow of economic benefits will be required
in settlement and the amount can be reliably estimated.
b Leases
Rentals payable or receivable under operating leases are charged to the SOFA on a
straight line b&8is over the period of the lease.
i Taxation
No provision has been made for taxation &8 the charity's charitable status renders it exempt
from UK direct taxation.
S Going concern
The financial statements have been prepared on a going concern basis as the trustees
believe that no material uncertainties exist. The trustees have considered the level of
funds held and the expected level of income and expenditure for 12 months from
authorising th¢se financial statements. The budgeted income and expenditure is
sufficient with the level of reserves for the charity to be able to continue as a going
con¢¢rn.
Page 19

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
IYOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)
2 Voluntary income
Landlaid Refurbishment Grant
The National Lottery - Green Room Project
Leic6Ster City Council
CentrePoint-More Than a Roof
The Abstract Fund
Sundry donations
Miscellaneous
2025
2024
5,500
9,960
5.000
Restricted
Restricted
Restricted
RestrRCted
Restricted
Unrestricted
Unrestricted
9,800
187.200
1.805
29,555
228,360
1,029
21,489
Voluntary income was £228360 (2024: £21,489). £197.000 (2024." £20,460) of this income was
of a restrict¢d nature.
3 Charffitable aetivities income
Housing benefits / rents I commissioning
2025
2,171,314
2,171,314
2024
1,821,237
1.821,237
Income from charitable activities was £2,171.314 (2024: £1,821.237). All unrestricted
4 I￿V￿tMent Ineome
Bank interest received
2025
2024
20
18
Investsnent income was £20 (2024: £18). All of these were unrestricted.
S Charitable activlties expenditure
Provlde supported housfing
Activities undertaken directly
Salaries & Agency costs for resident support
Support costs
2025
903,662
1,226,407
122,232
2,252,301
£2.247.975 (2024: £1,724.224) of the above costs were related to unrestricted funds.
£46.585 (2024: £20.460) of these costs Were related to restricted funds.
6 Allocation of support eosts
2024
728.236
922.250
94,198
1,744,684
Provide
Provide
Housin
Housin
2024
41,912
3,960
14.802
32,408
1,116
2025
59.771
10,415
18,616
30,911
2,519
Governance
Travelling
Telepllone
Mortgage interest
Ikpreciation
122,232
94,198
Page 20

PARK LODGE PROJECT
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 MARCH 2025 (CONTINUED)
7 Governance Costs
2025
2024
Advertising
Auditorfs remuneration
Professional fees
Ballk cbarg¢s
300
7,977
50,509
985
59,771
4,860
36273
779
41.912
8 Trustees Expenses
There were no trustees expenses during the year. (2024: £Nil)
Net Income
This is ststed after charging:
2025
2024
Auditor's remuneration
7,977
4,200
10 Wages and Salaries
2025
2024
Wages & salaries
Social security
Agency staff
1,075,564
94,174
56,669
1,226,407
839,874
72,439
9.938
922,251
2025
2025
Full time
Number Equivalent Number
2024
2024
Full time
Equfivalent
Average number of employees
45
36
All staff are employed by the charity or thtough agencies. No employees earned more
than £60,000 during the two years ended 31 March 2025.
11 Operatlng Lease CommitmeDts
Total minimum payments under operating leases are..
2025
2024
Wtthin one year
Within 2 - 5 years
229,530
315,234
238,424
300.850
544,764
539,274
Page 21

PARK LODGE PROJECT
(LIMrrED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (COIYTllYUED)
12 Fixed Assets
Freehold ￿PrO Com
uter
Fixtures
rovements ￿knrnent
ui
& Fittin s
Total
COST:
As at l April 2024
Additions
As at 31 March 2025
720,166
644.752
1,509
646,261
24.269
480
24,749
6,878 1,396,065
1,989
6,878 1.398,054
720,166
DEPRECIATION:
As at l April 2024
Charge for the year
As at 31 March 2025
23,137
890
24,027
2,703
1,629
4.332
25.840
2,519
28,359
NET BOOK VALIJE:
As at 31 Ma￿h 2025
720.166
646,261
722
2,546 1,369,695
As at l April 2024
720.166
644.752
1.132
4,175 1,370.225
13 Debtors
2025
2024
Rents receivable
Intercompany balance
Sundry debtors & prepayments
289,656
73,366
74J36
437,358
230,559
1,632
77.239
309,430
14 Credttors: Amounts falling due within one year
Sundry creditors & accruals
Loans & mortgages
2025
2024
149,298
14,568
163,866
108,719
12,279
120,998
IS Creditors: Amounts falling due after one year
Loans & mortgages
2025
2024
432,217
432.217
456,739
456,739
16 Loans
An anatysis of the maturity of loans is given below:
Arnounts falling duc within one year:
IA)ans & Mortgages
Amounts falling due between one and two years:
Loans & Mortgages
Amounts falling due between two and five years:
Loans & Mortgages
Amounts falling in more than five years:
Loans & Mortgages
Total
2025
2024
14.568
12,278
15,868
14,568
64,817
61444
351,532
446,785
379,728
469,018
Page 22

PARK LODGE PROJECT
ILtNtTED BY GUARANfEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025 (COIYTINUED)
17 Secured Debts
The loans and mortgages are secured by the two properties owned by the charity.
18 Movements in Funds
01-A
2024
r Incomin
Out
OID
Resourtrs Resources
31-Mar
2025
Transfers
Unrestricted Funds
General Fund
Designated Property
Restricted Funds
More than a Roof
The Abstract Fund
731,410
469.018
2.202,694 (2205.716)
36.176
(36,176)
764,564
432.842
9.800
187,200
(1.183)
(45.402)
8,617
l41.798
197,000
(46,585)
2,399,694 (2,252,301)
1,347,821
The deSI￿atsd fund represents the loans still due on the two properties own¢d by the charity
The restricted funds:
More than a Roof
The Abstract Fund
150,415
TOTAL FUNDS
1.200,428
These are restricted fLmds for spending on the r￿f at one specific propety.
These are restricted fi￿dS to be spent on the refurbishment on another
specific propety.
19 Analysis of Net Assets
Unrestrieted Unrestricted
General
Desi nated Restrict
Funds
Funds
Funds
Total
Fixed Assets
Current Assets
936.853
423.794
432,842
1,369,695
574,209
150,415
Total Assets
Current liabilities
Creditors after more than one year
1,360.647
(163,866)
(432217)
764￿64
432,842
150,415
1.943,904
(163,866)
(432217)
lJ47,821
432.842
150.415
20 Related Party Transactions
Related paty inforn)ation, transactions and outstanding balances are detailed below:
Park Lodge Projcct was the sole trustee of St Michael's Housing Trust. A registered charity and
registeKd with the Regulator of Social Housing.
Owed b
enditure Related Pa
84,081
73,366
1.632
Income
155.815
At 31 March 2025
At 31 March 2024
Page 23

PARK LODGE PROJECT
(LITr[￿ED BY GUARANfEE)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
Income:
Housing benefits, rents
& commissioning
Grants
Donations
Other income
Bank interest
2024
2,171.314
197,000
1,805
29,555
20
2J99,694
1,821,237
20.460
1,029
18
1,842,744
Expendlture:
Wages
Agency stsff
Training
Recruitsnent
Advertising
Rafrs
Light & heat
Insurdnce
Repairs & renewals
Howehold expenses
Artivity
Rent
Telephone
IT & Computer expenses
Audit
Printingy Postage & stationery
Miscellaneous
Bank charges
Professional fees
Trdvel
Mortgage & loan interest charges
Ikpreciation
1.169,738
56,669
16,366
3,426
300
29,764
125,723
8.321
125,692
23,342
32,227
442,492
18.616
65,394
7,977
18,861
12,054
985
50,509
10,415
30,911
2,519
912,312
9,938
12,632
3.836
23,098
85,071
32.967
183,833
12,365
23,479
280,503
14,802
52,606
4,860
10,505
6,610
779
36,273
3,960
33,139
1,116
2252JOI
1,744,684
Net Income for the Year
147
93
98,060
This page does forni part of the statutory f￿anCIal statements
Page 24