2024-03-31-accounts

Evolve Housing + Support R•port and Financial Statements Y•ar ondad 31 March 2024 Company number.. 47g6537 Registered Charlty number.. 1099051 Regulator of Soci81 Housing registration number.. H4400

Evolve Housing + Support Report and Financial Statéménts lor the year ended 31 March 2024 Contènts Pag•: Directors, Exe¢utive$ and Advisers Direcl<)r3' Report, includlng Slraleglc Rep)rt 10 Statement of the System of Internal Controls Statement of Olrectors, Responsibllitie8 12 Independent Auditor's Report 16 Statement of Comprehenslve Income 17 Statement of Flnancial Actlvltle8 18 Slalemenl of Flnanclal P05111on 19 Statement of Changes In Reserves 20 Slalemenl of Cash Flows 21 Notes formlng part of the financlal statements

Evolve Housing + Support Dirortor¥, Exocutives and Advisers Diréctors Paul Perkin Paul Infield Diana Coman Ana Gonzalez Iglesias Evonne Hudson Isabel Lee Colin Maclean Vipan Maini Simon McGralh Rebecca Monk Abby Raymond Mike Ward Auditor BDO LLP 31 Chertsey Street Guildford GU14HD Chair Vice Chair (Appointed 29 June 2023) (Retired 21 September 2023) (Appointed 29 June 2023) (Appointed 29 June 2023) Soll¢ltors Winckworth Sherwood LLP Arbor 255 Blackfriars Road London SE19AX (Appointed 29 June 2023) (Appointed 29 June 2023) (Retired 21 September 20231 Keystone Law 48 Chancery Lane London WC2A 1JF Company Secr•tary Jénny Slrudwick RoglIst•r￿ offlc• 16- 20 Kingston Road South Wlmbledon London. SW19 1JZ Bankorn HSBC 8ank plc 139A North End Croydon CRO 1TN Audlt Commltt•e Paul Infleld Diana Coman Ana Gonzalez Igleslas Evonne Hudson Vlpan Malnl Chair Sanlander UK pl¢ 100 Ludgate Hill London EC4M 7RE L•ad•rnhlp Toam Jeremy Gray Carmen Whlle Pamela Newman Jenny Slrudwick Elspelh Hayde Chief Executive until 31 O¢lober 2023 Chief Executive from 2 October 2023 Director of Operations DirecloT of Corporate Services Director of People and Culture (Resigned 31 August 2024)

Evolve Housing + Support Directors, Report lor the year ended 31 March 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Evolve Housing + Support I"Evolve"l is a company limited by guarantee, incorporated on 12 June 2003 under the nam8 'South London YMCA.. 11 was registered as a charity with the Charity Commission on 19 August 2003 and as a social landlord wlth the Regulator of Social Housing {formerly the Homes and Communities Agency) on 11 September 2003. Evolve is governed by ils Articles of A8soci81ion The g)verning body of the organl$ation is the Board, which comprises not le53 than Seven and not more than velve members. Board members are elected for a Ihree-year period and may be re•elecled for one further three year period. Al members of the Board give their lime voluntarily and receive no benefits from the organisalion. Directors. liabillly insurance Is arranged annually. A regular appraisal exercis8 Is carried out for Board M8mbers by the Chalr, together wllh an annual skills audit. Both of these allow gaps in the Board lo be Identified, lo enable largeled recruitment. Al members are given the opportunity to receive additional trainlng. Current customers sll on our Customer Scrutiny Panel, which reports ￿gUlarlY to Senior colleagues and the Board. A register Is kept of the inlere$l$ of 8oard members and specrfic declarations of interest are sought at every Board meeting. The maln responslbilily of the Board is lo formulate the strategic plans of the organisalion along wllh the budget and financial monilorlng. 11 recelves r8gular reports on 811 aspects of the work of the organisalion and m8ets formally at least quarterly. Away day5 are held règularly wllh the Chief Executive and senior managers lo discuss and plan fulure strategy based around a comprehensive buslness plan. The Board delegates the maSn day lo day declslons lo the Chief Executive and the Leadership Team. The 8oard has egtabllshed and formally constituted the Audll Committee as a sub-committee of the Board, with specifi¢ terms of reference and functs'ons delegated by the Board and with Board members representing the Board's Inte￿$1 on the committee, The Chief Executive, the Director of Operation5 and the Director of Corporate Sery￿s rwmally allend all the Audit Commillee meetings. as do other senior managers as appropriate. The Board conflrms that the organisalion complies with thè ragulalory frameworks and standards issued by ils regulalor$- the Regulator of Social Housing and the Charity Commission. In addition, the organisallon has adoplgd the National Housing Federation's INHFI Code of Governance 2020. The organisalion complied with th• relevant requirements of these frameworks, including the Govemance and Financial Viability Standard, throughout the year under revlew. and continues lo do so. OBJECTIVES AND ACTIVITIES Purpose¥ and Aim• The primary objects of Evolve are.. lo provlde. improve and manage houses or hostels providing residential accommodation and associated amen1t￿es. facilities and services for people of all ages who are in need, hardship or distress by reason of their social, physical or economic circumstances.. lo relieve or assist in the rellef of people of 311 ages who affj In need. hardship or distress by reason of their social. physical or economic circumstances. Our aim is to help children. young people and adults who are homeless or al risk of homelessness lo become independent and resilient. We believe in buildirlg on people's strengths, aspirations and goals to help them break th8 cycle of homelessness. We offer a programme of support tailored lo meet people's individLJal needs, including housing, employment and skills training, mentoring and counselling. Vve work with young parenlg and children al risk of exclUs￿n lo build the skills and resilience that can help prevent homelessness. Our aims fully rgfiecl the purposes that the organisation vrd5 set up to further.

Evolve Housing + Support Dirèctors, Report for the yeaf ended 31 MarGh 2024 We review our aims. objectives and aclSvities each year. This review looks al what we have achieved and the outcomes of our work. 11 looks at the success of each key activty and the benefits they have bro¢Jght lo those groups of people we are sel up lo support. The review also helps us ensure our aims, objectives and activities remain focused on our slated purposes. We refer to the Charity Commission's general guidance on public benefft when reviewing our aim5 and objectives and in planning our future activities. In particular, the Board considers how planned activities will ContriE￿te to the alms and objectives il has set. How our actlvltles dellver publlc bonoflt Our main acllvity is the provision of supported housSng and those who benefit from our services are described below. Our charitable activities focus on the 5UPPQrt of homaless people and those al risk of homelessness, with the aim of $LJPPOrting them to develop the skills andlor Insight needed lo live independently. The Oireclors have taken due regard of the Charity Commission guidance on public benefit and have satisfied themselves that the charitable activltles undertaken by the organisalbn are for the furtherance of ils charitable purposes and satisfy the Tequiremenls of public benefit. Who u808 and bondlts from our servlces? Whilst our obje¢l$ are not gaographlcally limited, our funding streams mean that the sornices we provide are primarily lo the resldenls of the London Boroughs of Croydon, Lambeth, Merton. Sullon and the Royal Borough of Kenslnglon and Chelsea. We plan to expand these servlc8s into neighbouring boroughs a5 opportunities arls&. Our core cllenl group 18 homeless and vulnerable people of all ages. Our accommodalion-based services cover a broad range of customer groups, including young people at risk, teenage parents, care leavers, young families with no recourse lo public funds, single homele$s adults, refugees, people with severe and enduring mental health needs and previously excludéd rough Sleepers with complex need5. Acces5 to our accommodallon-based servi¢e$ is managed via the local aulhorlty whlch funds the partlcular servlce. This process ensures that our services continue dlreclly lo meet the needs of the boroughs in which we work. Durbng the year we have conllnued to provide our Health and Wellbeing servlce lo dellver focussed support lo our ¢ustomers. FundraS$lng Charity law requires charities to make a slalèmenl regarding fundraising aclivilies. The legislation defines fundraising as 'soliclling or otherwise procuririg money or other property for charitable purposes,. Such amounts receivable are presented in these a¢¢ounls in other operating income. We have a Fundraising Strategy and a Stakeholder Engagement Strategy, both approved by our Board. We do not work with any professional fundraisers, nor do we use cold calling or direct mall. We are registered with the Fundraislng Regulator and comply with their code of practice. The day-to-d8y management of all incom8 generation is delegated lo the executive team who are accountable lo the Dlreclors. We have received no complainls in Telation to fundralsing activi118s in the year under review.

Evolve Housing + Support Dlrectors, Report for the year •ndod 31 MarGh 2024 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE In Jun8 2019, the Board approved our 2019-22 Buslness Plan. Our strategic objective is lo inspire our team to create p0511ive change. rèach more people and sustain our future. As a result of the pandemic, we were unable to progress many of our plans, and in June 2021, the 8oard agreed lo &xlend the term of the current plan lo 2023 and approved an interim plan for 2023-24. A new 3-year plan will be developed in 2024. This rèport gives a snapshot of the many achievements and improvements in Servi￿ provision for our customers during the year to 31 March 2024. Our primary focus remains keeping customèrs and ¢olleague$ safe and maintaining the financial security of the organisalion. The Directors acknowlédge that the achlevements of Ihe year were only possible through the hard work of our colleagues and th6 commitment of our partners. including the London Boroughs of Croydon, Lambeth, Merton, Sullon and th6 Royal Borough of Kensington and Chelsea, Homes England, National Lottery Community Fund, London Hostels Association, Greater London Authority, Land Aid, Au51in and Hope Pilkington Charitable Trust. Zurlch Communlty Trust, B&Q Foundation, Peter Jones and many charitable trusts, corp(xalions, groups and inéivi¢Jual¥ who continue lo support our work. Op•rationi Al 31 March 2024, Evolve provkled 540 beds of 8UPPOrted housing in the London Boroughs of Croydon, Lambelh, Sutton and Merton, and the Royal Borough of Kenslnglon and Chelsea. The support we offer within our accommodalion-based servlces is funded through local aulhorlty conlracl8, and we work to ensure that we are meeting the needs of our customers and the strategic needs of our commissioners. Our teams are equlpped lo work with and support the most vulnerable and complex people within the communities we serve and have the flexibllily lo be able to change our service offefing lo meet new strategic needs if requirod. Health and Safety Building safely land fire Safety) ¢onlinue$ lo be a core priorlty In our day-lo-day work, All our buildings have an expert fire risk assessment on an annual basi5 and are sublecl lo a regular inspection regime. We hav8 Snveslgd in our fir8 safely work and practice and have registered our bulldlngs over 18 meters with the Building Safety regulator in line with new requlremenls under the Building Safely Act. We have commlssloned in depth Bulldlng Safely Case reports for these buildings whlch wlll inform our ongolng Improvements lo our bulldlng safely measures. Improvlng Quality In the 2023 customer suryey, overall customef sallsfaclSon with Evolve services remained hlgh al 88.20/y. a 4Vo rise on the prevlous year. Our response rale increased 370h on the previous year to 77 /D Overall response. In 2023124, we delivered upon our Co-Produclion Strategy aims. We have seen successful complellon of two Peer Pathways programmes. Alongside this strategy, we have also embedded the Together with Tenants plan and Tenant Satisfaction Measures which form a core part of our customer feedback mechanism. New and updated ￿gulatIon and legislation has featured heavily in this period and in response to this we have developed a Comprehensive manager training and development program which addresses compliance with Ofsted regislrallon and inspection requirements, the Housing Ombudsman Code of Practice, the Consumor Standards and best practice frameworks such as the Beller Social Housing Review In 2023 our intemal quality audlts had a golden thread focusing on weffare and safeguarding. In early 2024 we completed a full programme of quality audits. We have co-designed and held several customer events, including a second Women's Festival. National Women's Day event, Christmas Fair and a football tournament.

Evolve Housing + Support Dirqctors, Report for the year ended 31 March 2024 We have continued to implement a 'Psychologically Informed, approach, not just in SerV￿S bul a¢ro$s the organisation. This has been achieved through cr058-organisalional working groups who have revieweé every area of our work. In 2024, we corn￿eted a report that evldences the impact of trauma support and psychologically infomied practices. Communlty Services Our work ané le8rnlng programme for young people Continued Sn 2023124 through a mixture of unrestricted draised I[￿oMe and a conlinualion grant from the London Hostels Association. Ovlcomes showed 100% of customers who worked wlth u$ had a work and learning plan in place. 117 people were 8ngaged in the programme including 67 with edu¢allonal outcomes in a professional qualification. 28 workshops occurred wlth 73 attending and 3 young people completing fvrther studies in entrepren8urship. Our Health and Wellbeing Programme received conllnualion funding and support from the National Lollery Communlty Fund in 2022 and will continue until 2025. In 2023. we completed 234 Iherapeulic inlervenlions for 110 ¢uslomers. 181 customers engaged in physScal health aclivilles and 196 health focused drop-ins were conducted. External fundlng ended for our counselllng service, however we ¢onlinued lo operate on a lesser scale with a reduction lo four counsellors. 31 assessments were ¢omploled and 24 went on to formal counselling Support. The number of $ession$ delivered was 141. Fundraislng Our Move 58 challenge. held in July 2023, continued the theme from the previous year, raising £1,455. Each partl¢ipaling supporter commilled lo Gompleling 58 activities in one month to raise these funds for us. We focused our resources on a winter appo81 In 2023. We raised £14,250. Overall, our lundraislng brought In £27,513, of unreslricled funds. Grants from London Hostels Association and Nalionwlde Bulldlng Soclety provided funding for Work and Learning servlces to run for most of 2023124. A further grant from LandAid enabled Us lo restart our mentoring programme. We implemented tsvo new contracts for Lambelh which will run over a five-year period. In 2023, 5 people completed a challenge event for us and we have agreed our fundraising focus will shrft more lo challenge events for 2024 with 11 participants already signed up. In 2023 we saw an increase in grfts in kind and Corporate away days that focused on Improving both internal and external areas in our services. The estimated value of gifts in kind is £18,474 in 202314. Colleagues In 2023124 we reviewed our Colleague Wellbeing Strategy and included monthly leam-led colleague wellbelng inilialives which has involved all part$ of the organisalion in sharing creative ideas to improve wellbeing at work. We developed our second Race Action Plan along with some Inclusive Leadership training for our anagers. We continue to find drfferenl ways into becomlng a Support Worker through Career Change and Apprenticeship routes. Our Moving Into Management internal development programme was extended to offer bile stted learning opportunities to anyone who wants lo be a future leader or Is a newly appointed manager.

Evolve Housing + Support Directors, Report for the year ended 31 March 2024 FINANCIAL REVIEW The Directors presenl th8 report and financial slalemenls for the year ended 31 March 2024. The statements are presented according lo the requlrements of the Statement of Recommended Practice ISORPI Accounting by Registered Social Landlord$ and FRS102. The key financial results for the year are shown below. Turnover for the year amounted lo £12.391 k compared with £12,825k for the year ended 31 March 2023. A surplus of £832k was recorded for the year. compared lo a surplus of £3,527k In the previous year. The 2023 surplus included the recovery of cladding remedlalion costs and legal fees in relation to the assoGiated lillgalion. Adjusting for those items, a surplus of £1,112k was recorded on normal operations in 2023. Interest payable,105$ re¢elvable. was £9k for the year compared with £116k for the previous year. A significant contract lo provide accommodation for young people in one of our larger hostels ended on 31 March 2023. Allhough we have been awarded new contracts in the same borough. turnover for the year to 31 March 2024 wa5 affected. We are currently reviewing the future use of that hostel bullding. As a charilablo ¢ompany limlted by guarantee. divldends are not paid. SuTpluse5 are relnvesled for the benefit of our customers. Finanoial rlsk8 The organlsalion has a Treasury Management policy, approved by the Dire¢tor$, which seek8 lo addres8 funding and liquidity risk and covenant compliance. Surplus funds are inv8sle(l in interest bearing account5 and the organisalion malntains suff￿lent levels of cash in current accounts for day-lo-day requirements lo r8duce liquidlty rlsk. Debts due to the organisalion are regularly reviewed for recoverability and provlsion Is made where necessary. Loans held by th8 organisalion, which are basic financial inslrumenls, are held al market value. which minlmises Interest ral& risk. Golng concern We carry out stress lesllng on our budget projections and forecas15 to 31 March 2026 and prepare ten-year lorecasls lo model various scenarios. Compliance with bank covenants is monitored quarterly and reported to the Audit Committee, After reviewing the annual budget, the Business and Corporate Plans. ten-year forecasts and cash flow proje¢lions. the 8oard considers that the organisation has 8dequ8te resources to continue in operational existence for al least 12 months from the dale these financial slalem&nls are slgned. Accordingly, we continue lo adopt the going concern basls In preparing the account5. PLANS FOR THE FUTURE Our 2019-2022 Business Plan was approved by the 8oard at their meetlng In June 2019. The plan sel out our ambition and strategic objectives for the Ihree-year period. Al their meellng in March 2021, the Board agreed lo extené the period of that business plan by one year. lo 2023, to acknowledge Ihal we were unable lo work on some of our strategic objectives due lo the pandemic. In March 2023, the Board approved an interim Business Plan, the key aim of which was achieving further sl8billty and consolidation, building a plalfomi for growth. 2023124 has been a year of transition, with our longstanding Chief Executive retiring in October 2023. A key objective forthe new Chief Executive is lo develop a new Business Plan lo take the organisation forward. A research project has been commlssioned lo Identrfy new customer groups who could benefit from our services. and new commissioning authorities wlth servlce requirements which fil with our expertise. We are also reviewing the use of our buildlngs to maxlmise the relum on investment, whilst staying Irue to our charitable objectives.

Evolve Housing + Support Dlrectors. Report for the year ended 31 March 2024 In the interim. we continue lo deliver our servlces, and fulfil our key stralegi¢ alms. which are.. Insplre our team - to continue lo develop, Innovate and deliver excellent services.. Cr•ate posltlve change- for people and communities., Reach morg p•ople- expanding what we do and where w& work; Sustaln our futuro- lo ¢onllnue lo be a well-led. viable and creative organisation. Rlsk and Internal Control The Audit Committee have reviewed the internal audit arrangements and agreed lo appolnt specialist providers appropriate lo the work required, with a view lo havlng regular specialist reviews. We also have a comprehensive programme of internal quality audits, covering 811 aspects of our business, and all departments. Results of these audits are reported lo the Board. Pollcies and pro¢edure$ have been pul in place lo ensure good governance and these are regularly reviewed and added to as required, Likewise, detailed procedures covering all aspects of finance related sy$tem8 and reporting have been developed lo supplement the organisallon's financial regulations. The Board is responsible for safeguariling the assets of the organi8allon and hence for taking ￿asOnable steps for the prevention and detection of fraud and other irregularities. The Board has con3idered the key risks facing th& organisalion. Future Government's reforms to th8 weKare system remain a risk lo our maln revenue Slrearn. Rental income Pfovides the malor sour¢e of income lo the organisallon and our customers rely on benefits lo pay their rent. A major 8r8a of risk relates to Supporting People fundlng, on which the organisalion also relles heavily, particulady with regard lo the arrangements for competillve tendering that all LoGal Aulhorllies now follow. The risks inherent with this funding stream ar8 addressed in a number of ways. We ensure that the quality of 11 our seNlces is maintained lo a very high standard and that all tender subrnisslons are keenly priced. Good relations are maintained with local authorities, and we work with Council colleague5 to ensure the continued 51ralegic relevance of the organisalion's services lo the Councils, ongoing slralegies. In addllion, colleagues ensure that the Councils are kept fully briefed on the organisation's services and the importance of malnlaining funding. We are also working to wlden our income streams and thus reduce our rellance on this form of local authorlty funding. Fire remains a key rlsk for all housbng provlders. We employ external consultants lo advlce on all fire safety measures and lo ensure compliance with all current regulatSons. The financial impa¢l of flre safely work 18 signiflcanl bul is managed with detailed plannlng and budgellng. The organisallon's Statement of the System of Internal Controls Is sel out on page 10. VALUE FOR MONEY Board acknowledgement of responslblllty The Board accepts its responsibility for knowlng how our assets are used lo further Ouf aims and purposes. The Board and senior management team regularfy review the organisalion's development and investment strategles with the aim of ensuring that we conllnue to make appropriate use of our assets in order lo achieve further growth. A key aim for the Board is lo demonslrale that we are maximising the relum on our assets and Inveslmenls. In line with our risk appellte, and achleving value for money. Value for Money at Evolve Our strategic objeGtives aim to dellver our charllable purpose. They therefore reflect the value we are seeking lo maximise in the context of value for money, To measure our SUC￿ss, we sel key performance indicators {KPlsl ané target5 against our objecllves. Our key strategic objectives remain unchanged and ¢an be sufflmarised as follows= Inspire our team to cre818 sitive change, reach more people and sustain our future.

Evolve Housing + Support Diractors, Report for the year ended 31 March 2024 Our strategic objectives and key priorities are summarlsed below= Strat ic Ob'ective 2023124 ke riorlties Measure KPI absence KPI - Vo of customers wllh slaylng safe lans Funds raised incr8as8d costs KPIS '/0 lost from voids and arrears Inspire our team Colleague wellbelng Support our customers to ident and meet 8rson81 oals Seek additional funding lo ensure services continue uninterru led days lost 10 5iGkness Create sitive chan Reach more people compared to Sustsin our future Manage void losses and arrears We report here on our organ15alional melrlcs and largels and the RSH m8lr6cs as requlred by the Vfm standard. Median figures are taken from the Smaller Providers, Benchmarking Group ISPBMI data for our peer group. The peer group is comprised of 15 smaller housing associations prlmarily provlding supported accommodation acros5 the country. However, h81f the group also provlde general needs housing which operates on a lower cost ba8e and higher marglns. RSH Motrlc 2021122 2022123 2023124 Actual 2023124 Target SPBM 2023124 Medlan £13.2k 2024125 Targ•t Headline social houslng cost per unll £'ooo EBITDA interest cover Operating Margin.- so¢ial hoLtsing lelling8 £14.3k £14k £14k £14.8k £16.2k 3780 607% 2680Iu -14.23¢ -16.04° 9.279/0 27.59 /0 7.429 0.88% 13.50 10.4Vo 4.3Yo 1.86% 0.76% 0.89/0 -21,8° 3V. eralln mar in.. or Return on ca Ilal em Gearin Reinveslmenl New su I delivered anisalion lo ed 0.50 -250 0.4Ch -36.9V 0.370 5.6% Evolvo Metr1¢ 2021122 2022123 2023124 Actual 2023124 Targot SPBM 2023124 Mgdian 2024125 Targ•t Collea ue absences workin da s lost Customers with ¢utrenl support plans 12.7 98,3% 13.4 97.IV 97.9% 1000/0 1009 Additional funds raised Void losses knears losses £'ooo £5k 5.4¥0 3.14% £39.6k 5.10 £98k 4.9910 4.40/0 £125k 5.60/. NIA 5.530 4.410 £27k 5.78Q 2.82% Our headline soci81 houslng cosl per unit is high, although close to the peer group median. We work hard lo keep cost increases as low as possible, whilst maintaining the quality of our 5ervice5. Many of our cuslorner¥ have complex needs and as a specialist supported housing provider il Is lo be expected that our service harge costs will be rèlatively high because of the special additional servi￿5 we need lo provide, including higher staffing levels, greater security and safety equipment, elc. We Gonlinue to spend signrficant sums on fire safety work, which together with static funding from our commissioning partner¥ puls pressure on our margins. We remain in ¢onlacl with a partner Local Authority regarding our development plans. We are paying down our bank loan5. deliberately allowing gearing lo fall, in order lo increase our borrowing capacity for future developments. The settlement of our legal case significantly replenished our cash reseNes in 2023, This has enabled us lo Gommi5sion Some major capital enhancements lo our buildings lo improve their fire safety capabilitie5. This work will lake ￿ace in 2024125.

Evolve Housing + Support Dirgctors, Report for the year ended 31 MarGh 2024 More information on valua for money, including del8118 of our soclal value, can be found in our full VIM review and on OUT webslte. RESERVES POLICY The Diréctors believe that a general reserve wpresenling be￿een three and six months. unreslrlcted expenditure sh￿Id be maintsined to allow the organisalion lo be managed efficiently. There is a need lo match varlable income with fixed Gomrnitmenls and the nature of the reserves and to provide a buffer for uninlerrupled servpces. This level of reserves would provide sufficient funds for the maintenance of the current activities of the organisalion in the evelll of a signrficanl drop in funding and also provide time to allow the Directors to conslder changes in aGtivilie5 or new sources of funding. Dudng the year. our lolal reserves increased from £14,688k lo £15,519k. The majority of these reserves are helé as fixed assets and. as such, could not be readily converted lo cash. Free reserves, defined as those whlch could be freely spent on our charitable objects land excluding restricted funds). amount lo £5.6m. representing approximately 5.6 month of expenditure (2023.. £4.68m, representing 4.5 months of expendilvre). PROVISION OF INFORMATION TO AUDITOR I the current board members have taken all the steps that they ought lo have taken to make themselves aware of any information needed by the organisatlon'5 auditors for the purposes of their audit and lo establish that the auditors are aware of that Information. The dire¢lors a￿ not aware of any relevant audit Information of which the auditors are unaware. 8Y ORDER OF THE BOARD The Dir8clors' Report Including the Slrateglc Report was appfoved by lfve Board on 19 September 2024 and $ign8d on ils behalf by: y Strudwick (Company Secretary)

Evolve Housing + Support Statement of the Syslem of Intemal Controls The Board is al the centre of governance and is responsible, in particular, for ensuring that the organisalion operates effectively and achieves ils objectives. The Board aCkno%￿edge$ its ultimate responsibility for &nsuring that the organisation has in place a sound syslam of internal controls that are appropriate lo the various business environments in which it operates. These controls foc#Js on the s￿nIfICant risks that threaten the organisation's ablllty to meet its objectives and provide reasonable assurance with respect lo.. the reliability of key information and perfom)ance indicators used within the organisation or for publication.. the malntenance of proper records., the safeguarding of assels against unauthorised u58 or disposition., and the organisatlon's compllance with relevant laws and regulatlon8. The Board Ss confldenl that procedures are in place that effectlvely identify all risks that mlghl prevent the organisallon achlevlng its objectlves and which manage such risks and miligale their effects. The organlsallon has managemenl arrangements. resources. skills and Systems that are appropriate to the circumslan¢e$, scale and Scope of [1$ operations and ensure that its activities are backed by proper systems of a5suranGe for internal ¢onlrol. The Board malnl8ins a sound system of Intemal controls and conducts annual revlew5 of the effecllveness of the system. The review covers the whole range of controls including financial, operational and compliance controls and risk management. The key Steps that the Board lakes are lo- Idenlfylreview the organisat￿n,$ bu$lne$s oblecllves, the possible opportunllle8 and the rlsk5 or threats lo a¢hieving those objecllve$', fomilreview the organisalion's framework for managlng the identrfled rS$ks.' and idenlfy how the Board is lo obtain assurance that the risk managomenl poll¢le$ adopted a￿ adequate and operating effectively. Assuran￿ Is obtained by.. the idenlffj￿aI1on and evaluation of applicabl8 risks., the design of a system of eontrols., and Ihe operation of Ihose controls. The organi8alion's risk management and risk Sdenlificalion activities provlde assurance that the organisation is foou$ing on and addressing the key risks that threaten th8 allainmenl of the organisalioTI'S business obleclives. Partlcular attenllon is paid lo how the organisalion's risk profile is Ghanging over lime. Such a¢livilies include the Leadership Team reviewing key rlsks at their regular meetings. Members of the Leadership Team regularly discuss these risks wlh service managers and their teams to ensure their full involvement in the risk fflanagemenl process. The Board recognises that perfomiance indlcalors have an important role in assurance by allowing the Board and the Audit Commi118e lo assess whether the organisalion is meeting ils objectives. Al 8oard meetings key performance indicators are reported on regularly. io

Evolve Housing + Support Statement of Dlrectors, Responslbllltles The Directors (who are also the trustees of Evolve Housing + Support} are ￿sponSIble for preparing the directors, report, strategic report, annual report and the financial ststemenls in a¢¢ordan¢e wfch applicable law and regulations. Company law and social housing legislallon requires the board lo prepare financi81 statements for each financial year in accordance with United K1ngdom Generally Accepted Ac￿untIng Practice Iuniled Kingdom Accounting Standards and applicable law}- Under company law, the Board rnusl not approve the financial slalements unless they are satisfied Ihal they glve a true and fair view of the slate of affairs of the organisation and of the surplus or deficit of the organisatSon for that period. In preparing these financlal slatemonls, Ihe Board are required lo.. select sullable accounting policies and then apply them ¢onslslenlly', make judgements ané accounting eslimales that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed and the Statement of Recommended Pra¢llce.' Accounting by Registered Providers of Social Housing 2018, subject lo any material departure$ dl$do$ed and explained in the financial slalements., and prepare the financial statements on the golng concern basis unl8ss it is inapproprlate to presume that the charitable company will conllnue In business. The Board is responsSble for keeping adequate accounting records that are sufficient lo show and eX￿aIn the organisalion's Iran$a¢tion$ and disclose with reasonable accuracy al any lime the financial position of the organisalion and enable them lo ensure that the financial stslemenls comply with the Companie5 Act 2006, the Housing and Regenerallon Act 2008 and the Accounting Direclior) for Private Registered Providers of Social Housing 2022. 11 is also responsible for safeguarding the assets of the organisat￿n and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. The board members are responsible for ensuring that the report of the board is prepared in accordance wlth the Slalemenl of Recommended Practice.. Accounting by reglslered social housing providers 2018. Financial statements are published on the website in a¢¢ordan¢e wllh legislation in the United Kingdom governing the preparation and dissemination of financial slalemenl$, whi¢h may vary from legislation in other jurisdictions. The maintenance and integrity of the webslle is the responsibility of the board. Board responsibility also extends to the ongoing integrity of the financial statements conlalned therein.

Independent Auditorfs Report to the Members of Evolve Housing + Support Oplnion on the financial statements In our opinion. the financial slalemenls-. give a true and fair view of the slal8 of the Organisalion's affairs as al 31 March 2024 and of the Organisalion's incoming resources and application of resources, including its income and expenditure, for the year then ended.. have been properly prepared in a¢¢ordance wSlh Unlled Klngdom Generally Accepted AcGountins Practice,. and have been properly prepared In accordance with the requlrements of the Companles Act 2006, the Housing and Regeneration Act 2008 and the Accounllng Direction for Private Registered Providers of Soclal Housing 2022. We have audited the financial statements of Evolve Housing + Support {"Ihe Organisalion ) for the year ended 31 March 2024 which comprise the slalemenl of comprehenslve income, the statement of finan¢ial aclivilies, the statement of financial position. the statement of changes in reserves, the statement of ¢a$h flows and notes to the financial stslemen19, incluéing a summary of significant accounting pdlcle$. The financial reporting framework that has been applied In their preparalion is applicable law and Unlled Kingdom Accounting Standards, inclijding Finan¢lal Reporting Standard 102 The Financial Reporting Standard 8ppIIc8ble in the UK and RepublK of Ireland (Unlted Kingdom Generally Accepted Accounting Praclkel. Basis for oplnlon We conducted our audit in accordance wlth Inlernallonal Standards on Audlling IUKI I ISAS IUKI") and applicable law. Our responsibilities under those standards ara further described in the Audllor's responsibilities for the audit of the linancial stalemenl$ section of our report. We believe that th8 audll evldence we have obtained 18 sufficient and approprbale lo provlde a basis for our opinion. Independonco We remaln independent of t￿ Organlsatlon In a¢cord8nce with the ethical requirements that are relevant to our auéil of the financial stalem¢nls in the UK, Includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in arLordan¢e wlth these requirements. Conclusions rolatlng to golng concem In auditing the financial statements, we have conduded that the board members, use of the going concern basis of accounting in the preparallon of the financial stslemenls Is appropriaté. Based on the work we have performed, we have not identified 8ny material un¢ertainties relallng to events or conditions that, individually or Collectively, may cast signiflcant doubl on the Organlsallon's ablllty lo continue as a going concern for a ￿rI01 ol al le8sI ￿1ve months from when the financlal slalemenl$ are aulhorised for Issue. Our responsibilities and the r8sponslbililles of the board with respect lo golng concern are described in the relevant sections of this report. Other Inforniatlon The board are responsible for the other Informallon. The other information comprises the Information Included in the anriual report, other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information including the Directors, Report, including slralegi¢ report, Slalemenl of System of Internal Controls and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtalned In the audit or otherwise appears lo be materially misstated. If we identify such material inconslglencles or apparent material misslalements, we are required lo determine whether there is a material mlsstalemenl in the financial Statements or a material misslalement of the other information. If. based on the work we have performed, we conclude that there is a material misslatemenl of this other informalior) we are required to report that fact. We have nothing lo report in this regard. 12

Independent Auditorfs Report to the Members of Evolve Houslng + Support Other Companies Act 2006 reportlng In our opinion, based on the work undertaken in the course of the audit-. the information given in the Strategic report and the Directors, Report for the flnanclal year for which the rinancial slalemenls are prepared is conslslent with the financial stalemenls,. and the Strategic report and the Director5, Report have been prepared in accordan¢e wlth applicable legal requir&menls. In the light of the knowledge and understanding of the Organisalion and Its environment obtained in the course of the audit, we hav6 not identified material misslalements in the Strategic report and Report of the Directors. We have nothing to report in respect of the following matters in relation lo whlch the Companies Act 2008 requires us lo report lo you if, in our oplnlon,. adequate accounting records have not béen kept by the organisation, or r6lurn$ adequate for our audlt have not been received from branches not visited by us. or the Organisation financlal statements are not in agreement with the a¢counling records and r8lurns', or certain disclosures of board trustees, remuneration specSfied by law are not made., or we have not recelved all the infomiation and explanations we requlre for our audlt. RoBponslblSltle8 of the Dlro¢tor8 As gxplained more fully in the Sialemenl of Directors. Responsibilities, {sel out on page 111 the Oireclors are responsible for the preparallon of the financial slalemenls and for being satlsfled thal they give a true and farr view, and for such internal control as the Directors determine 1$ ne¢e$sary lo enable the preparation of financial Statements that are free from material misslalemenl, whether due lo fraud or error. In preparing the flnancial slalemenls, the Dlreclors are responsible for assesslng the Organisation's ability lo conllnue as a going concern. disclosing. as applicable, mallers related lo going concern and using the going concern basis of accounling unless the Dire¢lor$ either intend lo liquidate th8 Organisalion or lo cease op6rallons. or have no realisti¢ alternative bul lo do so. Audltor's responslbllltlgs for th• audlt of tho flnanclal statements Our objectives are lo obtain reasonable assurance aboul whether the financlal statements as a whole are free from material mSsstalemenl, whether due lo fraud or error. and to Issue an auditor's report that includ8s our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted n a¢cordan¢e with ISAS (UK} will always delect a material misslalement when il exi51s. Misslalèments can arise from fraLJd or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatemenls. Extent to whSch tho audit was tapabl• of dotectlng Irrogularltles, in¢ludlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design proceéures in line with our r8sK)onsibililies, outlined above, lo delect material misstalemenls in respect of irregularities, including fraud. The extent to wh￿h our procedures a￿ capable of detecting irregularities, including fraud is detailed below.. 13

Independent Auditor's Report to the Members of Evolve Housing + Support Non•compliance with laws and regulations Based on.. Our understanding of the Organisalion and the industry in which il operates,. Di$¢usslon with management and those charged with governance., and Obtaining and understanding of the Organisation's poll¢les and procedures regafding complian¢e wlth laws and regulations we consldered the significant laws and regulations lo be the Companies Act 2006. the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022. The Organisatlon Is also $ublecl lo laws and regulations Whe￿ the Consequence of non-compliance could have a material effect on the amount or disclosures in the financial slatemenls, for example through the imposition of fines or lillgalions. We identified such laws and regulations lo be the Regulator of Social Housing's Regulatory Standards, employment law, data protection and health and safety legislation. Our procedures In respect of the above included.. Review of minutes of meellng of those charged with govemance for any Inslanc8s of non- compliance wllh laws and regulations., Review of correspondence with regulatory and lax authorilk88 for any instances of non-compliance with laws and regulations-, Review of financial slalement disclosures and agreelng lo supportlng documenlalion., Involvement of tax specialists In the auéil,. Review of legal expendllure accounts to understand the nature of expenditure In¢urred,' and Fraud We assessed the suscepllbility of Ihe flnanclal statements lo material mi$slalemenl, Includlng fraud, Our risk assessment procedLsres included.. Enquiry with management and those chargad wlth governance (also consldered Audit Commllleel reg8rdSng any known or suspeeled instances of fraud., Obtalning an understanding of the Organisallon's policies and procedures relating lo.. Delecling and respondlng lo the r15ks of fraud., and Internal controls eslabllshed lo mitigate rlsks related lo fraud. Review of minutes of meeting of those charged wllh governance for any known or suspected instancas of fraud.. Discussion amongst the en9agemenl team as to how and wher& fraud mlght occur in the financlal 51alemenls; Performing analytical procedures lo Idenlrfy any unusual or unexpected relationships that may indicate risks of material misslatemenl due lo fraud. Based on our rlsk assessment, we considered the areas mo81 susceptible lo fraud to be management overrlde through inappropriate Journal entries. Our procedures in respect of th8 above included testing a sam ofjournal entries throughout the year, which met a defined rlsk criterla. by agreeing lo supporting do¢umenlation. We also comrnunicaled relevant identified laws and regulations and potential fraud risks to all engagernenl team members and remained alert lo any indications of fTaud or non-compliance with laws and re9ulalions throughout the audit. Our audit procedures were designed lo respond lo risks of materlal mlsstalement in the financial slaternent$, recognising that the nsk of not delecling a material misslalement due lo fraud Is higher than the risk of nol detecting one resulllng from 8rror, as fraud may involve delib8rat8 concealment by, for example, forgery, misrepre$enlation$ or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance wlh laws and regulations is from the events and transactions reflected In the financi81 statements, the less likely we are to become aware of it. 14

Independent Auditorfs Report to the Members of Evolve Houslng + Support A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or .ukl udllorsres nsibililies. Thls descript￿n f(￿rns part of our auditor's report. Uso of our Teport This report is made solely to the members of the Organisalion, as a body. in accordance wlth the Housing and Regeneration Act 2008 2nd Chapter 3 of Part 16 of the Companies Act 2006. Our audll work has been undertaken so that we might stale to the Organisalion's members those matters we are required lo slate lo them in an auditor's report and for no other purpos8. To the fullest extent permitted by law, we do not accept or assume responsibilty lo anyone other than the Organisalion and th8 member5 as a body, for our audlt work. for this r8POrt, or for thè oplnlons we have formed. gEOBE2FE66 Paul Jagger (Senlor Statutory Audilorl For and on behalf of 800 LLP, 8latutory audllor Guildford, Surrey 30 September 2024 BDO LLP Is a Ilmllod liability P8rtnershlp registered In Eng18nd and Wales ¢￿th registered number OC305127). 15

Evolve Housing + Support Statement of Comprehen81ve Income for th? year ended 31 March 2024 Ploto 2024 2023 Turnowr 12,391,160 12,825,076 Operoung cy)6ts 111.839,4661 111,976.4801 ¢Jher op8r8ttno Incom8 289,207 379,636 610.881 1,228,232 Claddlng rèm•dl8tk)n c¥)6t r￿0very 3,050,000 L&Jal fees In relauon to ¢lad4lng r¥modl4tloft 1635,2381 Op•r•tlng •urplu• 840,881 3,642.994 Interest reK8ivable 8irnilar incomg 12 261,403 85,121 Interest payabl8 and fin￿￿ng costs 13 1270,5901 1201,1781 Surplu8 for the year beforo taxatk)n 831,694 3.528,937 Taxation Surplu• •fter taxatlon Ind to101 ¢ornprgh•Mlv• Incomo for th• y•ar 831,694 3,521,937 The notes on pages 22 10 34 fomi part of these financial stalemenls. All amounts derive from conllnulng xllvltles. 16

Evolve Housing + Support Statemènt of Flnanclal ActlvltSe8 for the ygar ended 31 March 2024 Unrgstrlctod R•gtrbct•d No houslng tlvlt Houjlng Non-houslng tivitie 31 M￿h 31 March 2023 Notes Income Grants tk)natK)ns 28.801 176.459 205,260 317.619 Charitable aclivS118s 12,391.180 12.391,160 12.846,238 Other trading activities Interest ￿va￿a 83.947 83,947 40,85S 85,121 12 261,403 261,403 12.391,160 374,151 176.459 12,940,770 13,289,833 Em￿ndIt￿n Ralsing Funds Charitable 8ctivlUes 74,133 26,123 74,133 134.115 11.422.604 254.498 11,703,225 62,128 12,439,371 Other Ir8din9 activili•s Int8r881 payable 62,128 88,070 38.232 13 182,520 270.5 201,178 11,605,124 250.454 254,498 12,110,076 12,812,896 Not Incomo 786,036 123,697 178,0391 831.694 476,937 Claddlng r&medlatlon 3,050,LV) N•t mov•m•nl In fi•nd• 786,036 123,697 178,039) 831,694 3,528.937 R•con¢lll•tlon ol fvnd• Oponlng bal•rK• a¥ •t 1 Ayll 2023 8,769,197 5.722.424 196,066 14,687,687 11,160,750 Clo•lng balanc• a• It 31 March 2024 9.555.233 5,848,121 118,027 15.519,381 14,687,687 The notes on pages 22 to 34 form part of these financial statements. The Surplus for the perlod includes all gains ané losses recognised in the period. All amounts derive from continuing acllvitles. 17

Evolve Housing + Support ststement of Flnandal Posltlon at 31 March 2024 Reg18terod Company number: 4796537 2024 2023 Flx•d a$s•ts Tan9ible fix& assets- houslng properties Tangl￿8 fixwj assets. other 14 15 24,701,311 25,ffj4,117 2,149,044 2,217,477 28,930.353 27,871,594 Curr•nt ts••t• OebtorB- receivable ￿thIn onè yèar Cash and cash oqulvalents 16 1,384.134 7,504,858 1.003.810 6.755.890 8.888.992 7.759,7C Cr•dltor•: •mouni• falllng du• ¥Athln on• y••r 17 3,160,824 2.887,793 N•t ¢urr•nt a•M¢• 5,728,168 4,871,907 Total a•Mt• l••• curr•nt114blllll•¥ 32,658.523 32,743,501 Cr•dltorn: Im¢unts f•lllng du• aft•r mor• than on ygur 18 17,139,142 18,0SS,814 N•t a•••t• 15,519,381 14,687,687 Fund• and Re8•rvo General Houslng Reserye- unrest￿ed Non-Housing Referve8 Unreslrfctgd Rgslrictad 9,555,233 8,769,197 .846,121 118,027 5,722,424 196.088 15,519,381 14,687,687 The fInancial slaleme 2024 approved by the Board of Dlroclors and aulhorised for issue on 19 Septemb8r Paul Pgrkin Chair The notes on pages 22 10 34 form part of these financial ststements. 18

Evolve Housing + Support Statement of Changes in Reserve8 for the year ond•d 31 March 2024 Genef81 Housing Re88rvè- Unrestricted Non-Housing R8servo- Unrestricted Non-Houslng R88erve- Re¥lricle¢J Total R8s8rves Balanc• at 1 Aprll 2023 8.769,197 5,722,424 196.060 14,687,887 SurplugllDeflcttl forth• y••r 786,036 123,697 178,039) 831,894 B•lanco at 31 March 2024 9.555.233 5,848,121 118,027 15,519,381 The notes on pag85 22 10 34 form part of these ffnancial slalemenls. Statement of Changes in Reserve5 for the year ended 31 March 2023 General Houslng Reserve- Unrestricted Non-Hou￿ng Ro$6rv8- Unrgsltlctad Non-HouBSng Re88rve- Restn'ci8d Totsl R&88￿9$ 881ancg at 1 Aprfl 2022 5,041,424 6,003.69J 115,636 11,160,750 Surpluslldeflclt} for the y88r 3,727,773 1281,2861 80,430 3,526.937 Balance al 31 Mard) 2023 8,769,197 5,722,424 196.066 14.887.687 19

Evolve Housing + Support Statement of Cash Flows for tho year ondod 31 March 2024 Not• 2024 2023 Cash flows fram opèr￿1￿0 aetlyltles Surplus for th8 flnanclal y•ar Adjustments for.. Depreclab"on offlxed assets- houslng prop*ll88 Dapr8ciation ol fixèd assèts- othér ArnorU98d govemm8llt grBnts Inlgr851 p8y8blg 8nd flnancir¥J costs Interest receivable Slmilar in¢om& Ilncrea88llDecr8a8e in trade and other debtors Increas8llDecreas81 in trade and other creditor8 831,894 3,526.937 14 15 872,806 68,432 1401,1901 270,590 1261,4031 1380,3241 2S9,962 877,705 91.326 1401.1901 201.178 185,1211 66,237 1445.8231 13 12 N•¢ c•sh g•nOrnt￿ flum 0￿￿tIng a¢tlvltl•s 1,260.567 3,831,249 C•$h flty4¥S Irom Inve•tlng actlvlll•• Purchasès ol fix￿ 8s8818- houslThJ prop&rUg$ Purchases of fixed assel$- other Inta￿81 ￿¢85Ved 14 15 12 195,6001 281,403 85,121 N•t Cash from Inv•$llng •¢tlvlth$ C?¥h fr•)m lln•n¢lng activltl•• Interest p8ld R&p8ymenl of loans- bank 261,403 110,479) 13 {270,5901 {502,4121 1201,1781 1510,4331 N•t ¢•ih us•d In fln•rtlng Ktlvleles 1773,0021 1711,6111 M•t Incr•ao• In ca•h and c￿h •qulvalent Cash and cash equlvalent8 81 baginniry of y8Ar 748,968 6.755,890 7,504,858 3,109,159 3,646,731 6,755,890 Ca•h and c••h •quI¥a￿hts •t •nd ofy•ar Non cgsh ¢hango$ R•conclll•tSon of n•t d•bt 1 Aprll 2023 Co$h fflows 31 March 2024 Cash at bank Short lem loans LoThJ tem loans 6,755,890 1518.7231 13,814,418) 748.968 7,S08,858 1531,7901 13,298,937) 13.067 113,0671 502.414 M•t dobt 2 422 749 1251382 3674 131 The notes on pages 22 to 34 form part of these financial slatemenls.

Evolve Housing + Support INDEX OF NOTES Genéral notes Legal status Accounting policies Judgements in applylng accounting policies and key sources of estimation uncertainty Statement of Comprehon¥lve Income related note8 Particulars of turnover, operating costs and operating surplus Income and expenditure from social houging lellings Tumover from non-social housing lellings Units of housing stock Cladding remediation Operating surplus Employees Dlreclors, 8nd senior exeGulives' remuneratlon Interest receivable and similar income Interest payable and financlng w$ls 10 11 12 13 Statarn•nt of Flnanclal Po8ltlon rol•tod not Tangible fixed asse15 - housing propertlas Other tangible fixed assets Debtors Credilor8'. amounts falllng due wllhln one year Credilor8'. amounts falllng due after more than one year Deferred capital grants Loans and borrowlngs Pensions Operating leases Related party dlsclosures 16 17 18 19 20 21 22 23 21

Evolve Housing + Support Note8 fom)Ing part of Ihe financial statements for the year ended 31 March 2024 Icontlnugd) Legal ¥tatu$ Evolve Housing + SupF)Ort is a company limlled by guarantee (company number 4796537) and a ￿[Ste￿d ¢harity (number 10990511 and is registered with the Regulator of Social Housing as a social hou$lng provider (number H4400). AG¢ountlng poll¢l•8 The financial statements have been prepared in accordance with applicable law and UK accounting Standards (United KIn￿10M Generally Accepted Accounting Practice} which for Evolve Housing + Support includes FRS 102 'Ihe Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland. the Statement of Recommended Practice ISORPI, 'A¢¢ounllng by registered social housing providers. 2018, the Accounting Direction for Private Registered Providers of Soclal Housing 2022 and the Companies Act 2006. The preparation of flnancial sta18menls In compllance vAth FRS 102 requlres the use of certain critical accounting eslimales. 11 al80 requires management lo exercise judgement in applying accounting policles. The following prlncSpal accounting policies have been applied- Golng concern W8 carry out stress lesling on our budget projections and fore¢a$ls lo 31 March 2026 and prepare len-year foreGa51s lo model various scenarios. Compliance with bank Covenants is monitored quarterly and reported lo the Audit Committee. After reviewing the annual budget, the Business and Corporate Plans, len-year forecasts and cash flow project￿ns, the Board consiéers that the organisalion has adequate resources lo continue in operat￿nal existence for al least 12 months from the dale these financial statements are signed. Accordingty. we continue lo adopt the going concern basis in preparing thg account¥. Income Income Is measured al th8 fair value of the conslderalion rec8ived or receivable. Grant Sncome Is accounted for on an onlillemenl basis. The organisalK)n genorate$ the following material income streams.. Rent81 income receivable (after dedu¢ling lost ￿nI from vokl properties available for lelllngl., Servlce charges receNable', Managefnent fee income from managed sefviceB,' Supporting Peo￿6 income., GovernmenVLocal Aulhorlly grants Charitable grants and donations., Lelling Income from non-accommodation spa¢e-, Bank interest. Supportsd hou&ng schemes The organisation receives Supporting People grants frDm a nurnber of London Boroughs. The grants received in the period as well as Costs incurred in the provision of support services have been included in the Slalemenl of Comprehensive Income. Any excess of rost over grant received is bome by the organisation. Seryice charges The organisalion calculates and charges service charges to its customers based on expenditure estimated each year as part of the annual budgeting process. 22

Evolve Housing + Support Notos fomiing part of the financial statements for the year ended 31 March 2024 Icontlnuedl Accounting policies (continugd) Management of units owned by olh8rs Management fees receivable and reimbursed expenses are shown as income and included in management fees receivable. Costs of carrying out the management contracts and rechargeable expenses are included in operating costs. Value Added Tax The organisalion charge5 Value Added Tax {VATI on some of ils income and 1$ able to recover part of the VAT il incurs on expenditure. The financial slalements include VAT lo the extent that il Is suffered by Ihe organisalion and not recoverable from HM Revenue and Customs. Recoverable VAT arises from partlally exempl aclivi118s and is credlted lo the Slalemenl of Comprehensive Income. Flnance costs Flnance costs are charged lo expenditure over the term of the debt usbng the affective interest rate method so that the amount charged 18 al a constant rale on the carrylng amount. P&nslon ¢osts Conlrlbutlons lo the organSsatlon's deflned ¢ontrSbullon pension schemes are expensed In the year in which they become payable. T8ngible fixed 8SS8ts- housing propert￿6 Housing properties constructed or acquired (including land} on the open market slnce the date of transition lo FRS 102 ar8 Stalad al cost less depreciation and impalrmenl Iwhere applicable). The cost of houslng land and propety represents the purchase pr￿ and any dire¢lly attributable costs of acqui811ion which may Include an appropriate amount for staff costs and other Gosls of managing development. Expendllure on major refurbi5hm8nl lo propertle8 18 capilali5ed where the works increase the nel rental Stream over the lrfe of the property. An increase in the nel rental stream may arise through an increase In the net rental income, a redu¢tlon In future maintenance costs, or a subsequent exlension in the lrfe of the propety. All other repair and replacement expenditure including component replacement is charged lo the Slalement of Comprehensive Income. D8precl81ion of houslng property Housing land and property is split behveen land, structure and other major componenls that are expected lo require replacement over time. Land 18 not depreciated because of 11$ indefinite useful economlc life. Assets in the course of construction are not depreciated until they are completed and ready for use lo ensu￿ that they are deprecialeé only in p8riod5 in which economic benefits are expected lo be consumed. The cost of all other housing property Inel of accumulated depreciation lo date and impairment, where appllcable) and components is depreciated over the useful economic lives of the assets on the following basis. 23

Evolve Housing + Support Noto8 fornilng part of the financlal statements for the year ondgd 31 March 2024 (contlnuod) Accountlng policies (continuedj Houslng properties are split be￿een the structure and Ihe major ¢omponents which require periodic re￿a¢erne￿I. The costs of replacement or restoration of these ¢omponenls are capitalised and d8precial8d over the determined average useful economic life a5 follows.. Description E¢onoml¢ useful life (years) Structure Roof coverings Walls, floors, ceilings Mechanlcal systems 80ilers and central heating Lifts Electrical in8tallatSons External doors and windows Sprinkler syslerns Kitchens, bathrooms and other filllngs 45 40 35 30 25 20 15 Leasehold propertles are depreciated over the length of the lease oxcept where the expected useful economiG Iwe of properties is shorter than the lease, when the lease and building elements are depreclated separately over thelr expected useful econom￿ Ilve8. Tangibl• fixed assets- Other Other tangible flxed as8el8 are slated at historical cost less accumulated depfeclalion and any accumulated Impalrment losses. Hlslorical cost includes expendSlure that Is dire¢lly allrSbulabl& lo bringing the asset lo the loGallon and condition necessary for il lo be capable of operating in the manner intended by management. The organisalion adds lo the carrying amount of an Ilom of fixed assets the cost of replacing part of such an item when that cost is incurred If the replacement part Is expected lo provide incremental future benefils lo the organisation. The carrylng amount of the replaced part Is derecognised. Repairs and malnlenance costs are charged to expenditure during the period In which they are incurred. D8preclalion of other tangible fixed assets Depreclallon on other assets Is charged lo allocate the cost of assets less their residual value over thelr eslimaled useful lives, uslng the straight-line method. The estlmated useful lives range a5 follows.. Description Economic useful lrfe lyearsl Leasehold land and bulldlngs Plant, machinery ané vehicles Fixtures, fillings, tools and equlpment Computers and 5¢)ftware Lease term 5-10 The assets, resldual value$, useful Ilves and depreclation methods are reviewed, and adjusted rf approprlale. ￿ there Is an lThJicalion of a significant change gince the last reporting dale. Gains and losses on disposals are determined by comparlng the proceeds with the carying amount and are recognlsed withSn 'olher operating income, In the Statement of Comprehensive Income. Govemment grants Grants received in relation to assets that are presented at deemed ijjsl al the dale of transition have been accok4nled for using the perfomiance rnodel as required by Housing SORP 2018. In applying this model, such grant has been presented as rf r( were originally recognised as incom& within the Statement of Comprehensive Income in the year il was receivable and is therefore included within brought forward reserves. 24

Evolve Housing + Support Notes forniing part of tha financial statements for the year ended 31 March 2024 (contlnu9dl Accounting pollcles (continued) Grants r￿1Ved since the transition date in relation lo newly acquired or exisllng housing properties are accounted for using the accrual model sel out in FRS 102 and the Housing SORP 2018. Grant 1$ carried as deferred income in the Slalemenl of Financlal Position and released lo the Stalernenl of Comprehenslve Income on a systematic basis over the useful eGonomic lives of the asset for which il was received. Where social hou31ng grant ISHG} funded property is sold, the grant becomes re¢ycl8ble and is Iransferfed lo a recycled capital grant fund until il is reinvested in a replac8menl property. If there is requirement to recycle or repay the grant on dlspos81 of the assets, any unamortised grant remalning wlthln creditors is released and recognised as income wlthln the Statement of Comprehensive Income. Grants relating lo revenue are recognised in the Slalemenl of Comprehensive Income over the same period as the expenditure lo which they relate once performance related ¢ondllions have been mel. Grants due from government organlsalions or received In advance are included as Gurrent assets or current Imp81rment of fixed assets The housing property portfollo of the organlsalion Is assessed for indlcalors of impairment al each financial year end. Where indicator5 are Ideriiified then a detailed assessment is undertaken lo compare the ¢arrying amount of assels or cash generating un115 for which impalrmenl is indicated to Ihelr recoverable amounts. An option appraisal is carried out lo determine the option which produces the highe51 nel reallsable value. Valualions on rental return or potential sale proceeds are oblain8d and used lo inform the options. The organisalion looks at the nel realisable value. under the options available, when considering the recoverable amount for the purposes of impairnienl assessment. The recovera￿& amount Is lak&n lo be the higher of the fair value less costs lo sell or value in use of an asset or cash generating unil. The assessment of value in u$e may involve considerations of the service potential of the assets or cash generating units concerned or the pre59nl value of future cash flows lo be derived from them approprlalely adjusted lo a¢¢ounl for any reslnclions on their use. No properties have been valued al value in use- service potential IVIU-SPI. The organisalion defines cash generallng units as schemes ex¢ept where its schemes affj not sufflclenlly large In size or where il is geographically senslble lo group 8cheme5 Into larger cash generating units. Where the recoverable amount of an asset or cash generating unil is lower than 115 carrying value an impalrmenl is ￿cOrded through a charge to the Slalemenl of Comprehensive IrKome. Any losses arising from impairment ar8 recognised In the Statement of Comprehensive Income in other operating expenses. Debtors and creditors Debtors and creditors with no slated interest rale and receivable or payable within one year are r8¢orded at transaction price. R8coverable amount ofrental 8nd other trade receiv8bles The organisation estimates the recoverable value of rental and other recelvables and impairs the debtor by appropriate amounts. When assessing the amount lo impair it reviews the age profile of the debt, historical collectKJn rates and the class of debt. 25

Evolve Housing + Support Notes formlng part of tho flnanclal statements for the year ended 31 March 2024 Icontinuedl Accountlng poll¢los (¢onlinu8d) Loans, Investments and slKYt-term deposits All loans, investments short-term deposits held by the organisalion are classified as basic financial instruments in accordance with FRS 102. These instruments are initially recorded al the transaction price less any transaction cost5 (historical cost). FRS 102 requires that ba$lc flnanclal inslrumenl$ are subsequently measured at amortised cost, however the organisation ha5 calculated that the difference be￿een the historical cost and amortised cost basis is not material and so these finanGlal Instruments are sialed on the Statement of Financial Position at historical cost. Loans and investments that are payable or receivable wllhin one year are nol discounted. Financial liabllities and equlty Financlal liabilities and equity are classified according lo the substance of the financial Instrument'5 contractual obligations. ralhef than the financial instrument's legal form. C8sh and cash 8quiv818nts Cash and cash equivalents In the Slalemenl of Financial Position consists of cash al bank, in hand, depo$lts and short-l¢rm investments wllh an orlginal malurily of three months or18ss. Leased assets.. Lessee Where asset$ are financed by leasing agreements that glve rights that approximate lo ownership Ifinan¢e leases). the assets are Irealed as if they have been purchased oulrighl. The amount capilalised is the present value of the mlnimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amount$ payable to the lessor. Depreciation on the relevant assets is charg8d to expenditure over the shorter of the estimated useful economic life and the term of the lease. Lease paymen15 are analysed between capital and interest components so that the interest element of the payment is charged to expenditure over the term of the lease and Is calculated so that it represents a constant proportion of the balance of capi181 r&paymenls oulslanding. The capital part reduces the amounts payable to the lessor. All other leases are treated 88 operating leases. Their annual rentals are charged lo expenditure on a slraighl-line basis over the term of the lease. Reser￿3 Income received, and expenditu￿ incurred, for restricted purposes 18 separately accounled for within reslrleled funds. Realised and unrealised gains and losses on a55e15 held by these lunds are also allocated lo the fijnd. The general housing reserve and unrestr￿ed non-houslng reserve repre¥enl the general funds of the organisalion. The reslricled fund arises from fund5 received for purpoged specrfied by the donor, less expendlture incurred on those purposes. 26

Evolve Housing + Support Not￿ forniing part of the flnanclal statemonts for the year ended 31 March 2024 (contlnued) Judgements in applying a¢¢ountlng pollc108 and key sources of estlmatlon uncertalnly In preparing these financial slatemenls, the key judgements have been made in respeGI of the following: whether there are indicalors of impairm8nl of the organisation's tangible and intangible assets. Factors tsken into consideration in reaching such 2 decisM)n Include the economic viability and expected fvlure financial performance of the asset and where il is a component of a larger cash-generating unil, the viability and expected future performance of that unil. The Board have considered the measurement basis lo determine the recoverable amount of assets where there are indicators of impairment based on EUV-SH (Existing Use Value Social Housing) or depreciated replacement cost. The Board have also considered impairment based on their assumptions lo define cash or asset generating units. whether lea5e5 entered into by the organisation either as a18ssor or as a lessee are operating leases or finanee leases. These decisions depend on an assessment of whether the risks and rewards of ownershlp have been transferred from the lessor to the lessee on a lease by lease basls. the cal8gori5allon of housing properties as investment properties or propety. plant and equipment bas•d on the use of the asset. what conslrtules a cash ganerallng unil when Indlcalors of Impairment requlre there to be an impairment review. Othgr key sources ofestim8llon uncertainly Tangible fixed assets (see notes 14 and 15) TangSble fSx8d assets, other than investment properties, are depreciated over Ihelr useful lives taking into a¢¢ount residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary dependlng on a number of factors. In re-assesslng asset lives, factors such as the condition of the asset and ils future income generallng potential are taken Into account. Residual value assessments consider 188ue8 such as future market condltions, the remalning IKe of the a5sel and projected disposal value8. For houslng property a$$el$, th& assets are broken down into components based on management's a5ses5menl of the propertles, Individual useful economlc lives are assign8d to these ¢omponents. Rent818nd other trade re¢&lvables (d&btorsJ (see note 16) The estimate for receivable5 relates lo the recovorabilily of the balance5 oulslandlng at year end. A revlew is performed on an indlvldual debtoi bas1$ lo consider whether each debt 15 re¢overable. 27

Evolve Housing + Support Note8 fom)ing part of the flnanclal statemenls for the year onded 31 March 2024 Icontlnuedl Partlculars of turnov•r. op•rating costs and operatlng surplus Turnover Opgratlng costs Operating Surplus 2024 2024 2024 Soc141 houslng l•ttlngB (Not• 51 Othor So¢l•l Hou•lng Aellvlde8 9,754,418 8.726.130 1,028,288 Charges for suppori geNI￿S Supportlng people 74,063 2,582,881 183.008 2,582,681 1108,0451 12.391,160 11,471,819 919,341 Actlvltl•8 Qthor than Soclal Hou•lng AC￿VIll•S LetUn98 Olh&r 83,947 205,210 62,128 305,539 21,819 {100,2791 289,207 367,867 178,4001 Surplui b•for• dl8po•al of tanglbl• flx•d •8sot• 12,080.367 11.839.488 840,081 Profll on dlsposal of tanglble fixed assets Claddlng remedlalion recovery of ￿81$ Legal faes In ralatlon to cladding remediation Oporatlng Surplu• 12880 3e7 11839486 Other income and expendllure comprises non-housing grants and donations and related expenditure and Ihe cost of raising those funds Tumovar Op8ratlng costs 2023 Opefatlr SuTrlu8 2023 2023 Soclal hOu￿n91￿111ngs (Note 51 Other So¢ial Houslng Advltl88 10.268,833 8,980,748 1,288,085 Charges for BUPPOrt 8eth8 Supporung people 78.803 2,477.441 178.377 2.477.441 199,5741 12.825.077 11.636.566 1,188,511 Actlvitles Other than Soclal HouslTrJ Adlvities Letting othèr 40.855 338,780 38,232 301,682 2.623 37,098 379,635 13.204,712 339,914 11,976,480 39.721 1,228,232 Surplus b8fore disposal of iarVJl￿e fixed assets Profil on disposa of tanglble fixed assets Cl8dding remediation ￿COVery ol costs Legal f88s In relation to cladding rgmediali¢ 3,050,000 3,050.000 1635.2381 635,238 OpèratlTrJ Surplus 16,254,712 12.611,718 3.642.994 28

Evolve Housing + Support Not•s foming part of the flnanclal 81atements for the year ended 31 March 2024 (continued) Incomo and oxpenditure Irom soclal hou81ng lettings Supported houslng 2024 Supported housing 2023 Income Rents net of identifiable sgrvts ch8rg8s Service charge incorne Amortisod govgmment grants Othar income Turnover from loclal hou¥lng lettlngs 4,313,397 5.039.829 401,190 4,521,326 5,184.681 401,1SM) 161,636 10,268,833 9,754,416 Expendltur• Managernenl Servlc8 charge cost8 Routine maintenance Major repalrs expendllu Bad debt8 Deprec4allon of houslng prop8rt188'. annual charge Other costs 1.452,434 4,089,918 792,432 1,053,818 196,817 1,698,763 4,517,332 405,242 806,406 392,486 872,806 267,855 877,705 282.814 Op•ratlng •xp•ndltur• on •oclal houiln9 l•ttlng* 8,726,130 8,980,748 Op•r•tlng 4urplus on 8odal hou•lng lettlng• 1,028,280 1,288.085 VoSd 577,181 TUrn0￿r from non40¢1al houslng lottlngs 2024 2023 Conferencing and nufsgry fac1111186 7 Units of hou$lng stock 2024 Numb•r 2023 Numb8r Supported Hou8ing ned Units 435 435 Support&a Ac¢ommod8tlon managed for others 105 119 Totsl th¥n•d and mArtaged accommodatlon 554 Supported Accommodauon m8n89ed for others at 1 April 2023 163 Units hand9d back l018ndlord 14 Supported Accommodation managed for others Wt 31 March 2024 105 119 29

Evolve Housing + Support Notes forniing part of the flnanclal statements for the year end•d 31 141aKh 2024 (contlnued) 8 Claqldlng r•mtrdlatlon 2024 2023 2022 2021 2020 Oui of court setuemenl C08t of rtrmgdl81Son Legal 188s incurred in liUg8tion 13.050.000> 2,140.080 511.888 566.179 234.766 45,218 222,386 635,236 12.414.782) 2,651,968 800,945 267.604 Wè hava completed the remediation of cladding al all affected propertle$. Operatlng surplus 2024 2023 This is arrived al after charg1n￿{C￿dltingl. D8precia￿On ol houslng prop8rtI88 Depreciallon of olhor18nglbl8 fix8d as8Ot8 Profil on disposal of fixgd assals 872,806 68,432 877,705 91,326 Cyeratlng lea8e charge8-18nd & bulldln9 79,582 86,800 Audltorf8 remuner8￿On'. fees payatA& lo th8 organlsatlon's audltor for the audit of the annual accounts 41,500 38,500 - foe8 for non&audlt seNke8 Deflned contslbutlon pgn81on co$1 161.718 159,811 10 Employ•8• 2024 2023 Staff ¢08ts Ilndudlng Leadership Team) consist of.. Wages and 8818rf8s Soclal security costs Cost of defined contrfbutlon scherne Redundancy CQBts 4,869,877 427,503 161,718 47,813 5.150,748 462,139 159,811 106,598 Total 3taff costs 5,506,911 5,879,296 The 8ver89e number of empbyees (ir￿1￿j￿D9 the Leadership Team) during the year. based on headcount, vras a8 follows: 2024 Number 2023 Numbgr Administration Houslng and Support Charitstjle prolects 21 172 25 159 199 191 30

Evolve Housing + Support Noteg formlng part of tho financial Statéménts for the year ended 31 March 2024 (contlnued) 11 Diroctors. and senlor executlves. remuneratlon Tha Dlrectors land members of the Board) ara shown on page 1. Senior executives ar8 the Chief Executive and the Leadership Team a8 diy£1088d on poge 1. 2024 2023 Leodership Te8m em￿unwnts 407,331 442,247 Contribution8 to money purcha8e pen81on sch&me$ 32.044 40,279 439.375 482,526 Included in the above gra radundancy payments of £41,84512023- £18,125) Non8 ofthe mgmb&rs of tho Board recelved any ernolurnent8 from th& oryanl88llon12023'. nil}. The total amount payab18 to the Chlgf Exe¢utlv8 to 31 October 2023. who was also thè hlghest paid director In Te$Pe¢t of emolumenl8, was £119,054 12023 - £104.3101. Pension conlribuUon3 of £6,35812023 - £ 10,3811 were rnade lo a money purch88e 8chem8 on hls bèhaff. As a rn8mber of Ihe organl8atlon'8 parsonal pgnslon plan. the penslon enllVem&nl of Iho Chlef Execullve Is Idenllcal to Ih08e of other members. Durfng the year, con1r1￿tIOnS wera pald Into the organlsation'8 Lleflnod contrfbullon p8n8ion Schème on bèhalf of 5 8enior 8xecutive812023- 51. The r8mun8rafjon laxdudlng penslon contslbutlonsl pald lo stsff lincludirKJ Leaderghlp Team) eamlng over £60,000- 2024 Numb•r 2023 Number E60,000- £69,999 £70,000- £79,999 £80,000- £89,999 £90,000- £99,999 t100,000- £109,999 £110,000-£119.999 The lotsl of penglon conlAbulkJn8 pald on b8haW memb8rs of staff eamlThJ over £80,￿0 was £30.99412023.' £40,297). 12 Int0ro•t ro¢olvabl• and slmllar Income 2024 2023 Bank Inlef881 wgiv8ble 31

Evolve Housing + Support Notes forming part of the financlal statements for the year ended 31 Ma￿h 2024 Icontlnuedl 13 Interest payable and f5nancing costs 2024 2023 Interest pay8bl8 on bank loans and overdrafts Bank chargÈs 264.364 8.226 192,804 8,374 270.590 201 178 14 T•nglblè flxed o88•ts- houglng pr1>per￿ Frn•hold LAnd Long Lea••hold & Bulldlng• Land & Bulldlng$ T+)tal L•nd & Bullding• C081 tt valu8tlon.' Al 1 Aprfl 2023 Addillons DIspo$818 35,778.355 1,107,651 3S,886,006 At 31 M•r¢h 2024 35.778,355 1.107,651 36,880,006 Deprgclattw.. At 1 Aprll 2023 Charge for the y8aT Olsposa18 10,727,150 855,895 504,739 16,911 11,231,889 872.806 At 31 March 2024 11,583,045 521,650 12.104,895 N•1 book v•lu• 4t 31 M•rch 2024 24,195.310 366,001 24,781.311 Ng1 book vglua gt 31 Morch 2023 25,051,205 601912 25,654.117 2024 2023 Works lo propertle8 Improvements to oxlsbng prop?￿98 capitallsed M8Jor r9p8ITB èxpandrtur8 chaoed to Statement ol Comprehenslve Income 95,600 806.406 1,053,868 1,053.868 go2,￿6 Capltal grBnt- Hryjsing Propertie8 20.059,480 20.059 486 lrnpaimient The organisation considers £24.781,311 to ￿present SBP8rate cash generating units ICGU'81 when 868e88irvJ for Impaimwnt In accordance wllh the requirernenls of FRS102 and SORP 2018. There was no impaimienl in the ygar under rgvlaw. Prop•rti•s h•ld for s•curlty Pro￿Tty wtth a n6t 1X￿k vakje of £12,7￿.339 was pledged 88 Security at 31 March 202412023- £13.233,6511. 32

Evolve Housing + Support Notes fonning part of the flnancial statomènts for the year endod 31 March 2024 {contlnuod) 15 Other tanglble fixed a88ots Non-H¢uslng Fr•ohold Land and Bulldlng• Flxtur••, fittings, equlpment and v•hlcle8 Total other Flxed assets C08f or valualion At 1 April 2023 Additlons 0i8P08als 2,816.780 1.324,293 4.141,073 At 31 March 2024 2,816.780 1,324,293 4,141,073 Depr8UatM)n Al 1 Aprll 2023 Charge lor year Disp0881s At 31 M•r¢h 2024 612,895 62,976 1,310,701 5,457 1,923,596 08.432 675,871 1,316,158 1.992,029 N61 book valuo At 31 March 2024 2,140,909 8,135 2,149,044 Al 31 M8rch 2023 2 203,885 2217477 16 Dobtorn 2024 2023 Rec•lvabl• wlthln onè y•ar Rent and servlc8 chargè arreafs Le88'. Provision for ¢Joub¢ful debts 928,224 1482,4821 465,762 1,173,127 1560,1891 612,938 Trade debtors Other debtors Prepaymont8 and accrued Iru)me 398,108 422,721 97,543 186,844 124,495 79,733 1,384,134 1,(M)3,810 17 Cr•ditor8'. amounls falllng du• withln on• year 2024 2023 Loans and borrowlngs (Note 211 Trade creditors Taxa￿On and soclal security Other cr6dSlors Deferred capital grant INol8 201 Accruals and deferred incom8 531,790 474,277 117,143 250.787 401,190 1.385.637 518,723 308,932 147,076 233.327 401.190 1.278.545 3,160.824 2,887,793 The bank loans are repayable in in51alments over 10- 15 y8ars. The bonk Loans are secured by fixed charges over the fr8ehohY properties at Slockwtsll Road, Alexandra House, Ingrarn Court, Burton-white Hou89 and Kingslon Road. The bans bear int8resi at variable rates calculatod at a margin above the Base Rate. One loan has an Inte￿$t rate of 3Q/o fixed over the tem) of the loan. 33

Evolve Housing + Support Notes formlng part of tho flnanclal 8tatement8 for the year endod 31 March 2024 (contlnued) 18 Croditor5: amounts falllng due after more than one year 2024 2023 Loans and borrowlngs {Nole 201 Deferred Ca￿tal grant INote 191 3,298.937 13,840.205 3.814,418 14.241,396 17,139,142 18,055.814 19 Doforr¢d ¢apltal grants 2024 2023 Al 1 Ap￿1 Grants receiv&J durfng th8 year Released to Income during th8 y6ar 14,642,585 15,043,775 1401.1901 1401,1901 Al 31 M8r¢h 14,241,395 14.642,585 Totsl volue of grant8 r8celved 20 059 480 20 059 486 20 Loans and bofrowlngl Maturfty of d8bl'. 2024 2023 In one year or le8s. or on d8mand In more than one ye8r bul ntsl MO￿ than yoars In rn0￿ Ihan years but not more than fve yeaf In more Ihan five year8 531,790 565,531 518,723 546,846 1,544,759 1,188,647 1.716,156 1.551,415 3,830,727 4,333,140 21 Pgn•ion• Evolve provkJe8 8 D8flned Contrfbubon PensSon Schgme that Is open to all employees. 22 Opgfating1o0$0• The organisabon had minimum lease p8yrnents urHler non-cawK8118ble oper8ting1908es 88 set oul below.. Amounts payabl• a• Lès#•o 2024 2023 Land and buildlngs Not later than 1 year Within 1- 2 years WilhSn 2- 5 years 78,2CX) 88.804 75.404 86,8C(J 24 Related party disclosurns Tho ultimate controlllng paty of the organlsatK)n is the Board of Evolve Housing + Sukwrt. 34