Copftyiuio Evolve Housing + Support Roport and Flnanclal Stat•m•nts Y•ar •nded 31 March 2025 Company number.. 4796537 Registered Charlty number.. 1099051 Regulator of Soclal Housing registration number= H4400 Evolve Housing + Support Report and Financial Stat•m•nts for the year endod 31 March 2025 Contonts Pag•: Directors, Exeeutlves Advisers Dlrectors, Roport, inclvdlng Slralegl¢ Report 10 Statement of the System of Inlemal Controls 11 Slatemenl of Directors, Respon51bllilles 12 Independent Audltoes Report Statemenl of Comprehensive Income 17 Stalemenl of FInan￿81 Actlvllle8 18 Statement of Flnancial P08111on 19 Stalomenl of Changes In Reserv88 20 Statement of Cash Flows 21 Index to Notes formlng part of the financlal statemènts 22- 35 Note8 formlng part of the financlal Statements Evolve Housing + Support Dir•ctors, Executlves and Advisers Dlro¢tors Audltor BDO LLP First floor, Bottle Works The Bars Guildford GU14LP Paul Infield Paul Perkln Chair from 19 September 2024 Chair lo 19 September 2024 Retired 19 September 2024 Diana Coman Ellie Eghledar Ana Gonzalez Igle$las Evonne Hudson Mica Joseph Lkz Laurence Colin Maclean Vipan Mainl Simon McGralh Rebecca Monk Chrisllan Ogunsakin Abby Raymond Appointed 26 June 2025 Retired 1 October 2024 Appolnted 26 June 2025 Appointed 26 June 2025 SollcStors Winckworth Sherwood LLP Arbor 255 Blackfriars Road London SE1 gAX Retired 29 MarGh 2025 Appolnted 26 June 2025 Keystone Law 48 Chancery Lane London WC2A IJF Company S•crntary Jonny Slrudwick R•glst•red offic• 16- 20 Klngslon Road South Wlmbledon London, SW19 1JZ B•nk•rn HS8C Bank pl¢ 139A North End Croydon CRO 1TN Audlt Commlttoe Vlpan Malni Olana Coman Ana Gonzalez Igle8las Sanlander UK plc 100 Ludgale Hill London EC4M 7RE Chalr L•ad•rshlp Team P8tdci8 Brandum Interim Chief Executlve from 17 February 2025 Chièf Executive from 2 October 2023 until 31 January 2025 D1￿Clor of Operatlons {Resigned 11 February 2025) Interim Dlreclor of Operations {from 25 March 2025) Director of Corporate Servlces Director of People and Culture (Resigned 31 August 20241 Carmen Whlte Pamela Newman Carollne Moylan Jenny Strudwick Elspelh Hayde Evolve Housing + Support Dlroctors, Report for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Evolve Housing + Support {"Evolv8') is a ¢ompany limited by guarantee. incorporated 12 June 2003, under the name "South London YMCA" 11 was registered as a charity with the Charity Commission on 19 August 2003 and as a social landlord with the Regulator of Social Housing Iformerly the Homes and Communities Agency) on 11 September 2003. Evolve is governed by ils Articles of Association. The governing body of the C￿ganISation is the Board. which comprises not less than seven arKI not mor& than twelve members. Board members are electéd for a Ihree-year period and, under the article5, may be re-elected for further three year periods, giving a maximum term of nine years. This exceeds the sugge$ted maxlmum term in the NHF Code of Governance 2020, which is six years. All members of the Board give their lime volunlarlly and receive no benefits from the orgonisalion. Directors. liability insuiance is arranged annually. A regular appraisal exercise is carried out for Board Members by the Chalr. together wllh an annual skills audit. Both of these allow gaps in the Board lo be idenlrfied, to enable targeted recrultmenl. All members are given the opportunlty to receive additional training. Curffjnt customers $11 on our Customer Scrutlny Panel, which reports regularly lo senior colleagues and the Board. A reglsler Is kept of the intere818 of Board members and specific declaratlons of interest are sought al every Board meellng. The rnaln re5ponslblllly of the Board is to formulate the strategi¢ plans of the organlsalton along wllh thé budget and financial monilorlng. 11 receives regular reports on all a$pe¢ls of the work of the organisallon and meets formally at least quarterly. Away days aro held regularfy wlth the Chlef Executive and 8enior managers lo di5¢U5$ and plan fulure strategy based around a comprehenslve buslness plan. The Board delegates the main day lo day de¢lslons to the Chief Execulbve and the Leadershlp Team. The Board has eslabllshed and formally conslituled the Audlt Commlllee as a su&commillee of the Board, with spe¢ifl¢ terms of reference and function5 delegated by the Board and wllh Board members representing the Board's Interest on the committee. The Chief Execullve. the Director of Operallons and the Director of Corporate serv1￿$ normally attend all the Audlt Committee meetings. as do other senlor managers as approkyiale. A govemance rovlew 1$ Currently underway. led by a ¥mall group of trusl8e5 and the Chlef Execullve, lo revlew commlttee structures and governance procedures and lo assess compllance wllh the regulatory frameworks and standards issued by Ils regulators th8 Regulator of Social Housing and the Charity Commission. The organisalion has adopted the Nallonal Houslng Federation's INHFI Code of Governance 2020, and compliance will form part of the aforementioned review. Where the Arti¢les ot Asso¢lallon dlverge from the Code, the Artides lake pre¢edence. OBJECTIVES AND ACTIVITIES Purpo8•s and Alm8 The prSmary objects of Evolve are.. to provide, improve and manage houses or hostels provldlng residential accommodation and a￿o¢lated amenities, facilities and services for people of all ages who are In need, hardshlp or distress by reason of their social. physical or economic circumstances- lo relieve or as51sI in the relief of pgople of all ages who are in need. hardship or distress by reason of their social. physical or eCor￿M￿ ¢i￿UmStanCeS. Our aim 15 to help children, young people and aéults who are homeless or al risk of homelessness lo become independent and resilient. We believe in building on people's strengths, aspirations and goals to help them break the cycle of homelessness. We offer a programme of support lailored lo meet people's individual needs. induding housing, employment and skills training. mentoring and counselling. We work with young parents and children al risk of exclusion lo build the skills and resilience that can help prevent homelessness. Our aims fully refflecl the purposes that the organisalion was sel up lo further. Evolve Housing + Support Dlreclors, Report for the year ended 31 March 2025 We review our aims, obieclive5 and activities ea¢h year. This review looks al wh31 we hav8 achieved and the ouleomes of our work.11 looks at the success of each key activity and the benefits they have brought to those groups of people we are sel up lo support. The review also helps us ensure our aims, objecliv8s and activities remaln focused on our staled purposes. We refer lo the Charity Commission's general guidance on public benefit when reviewing our aims and gbje¢lwes and in planning our future acts'vities. In particular. the Board ¢ongiders how planned activities will Contribute lo the aims and objectives it has set. How our a¢tlvltles dellver publlc benefit Our maln actlvlty Is the provision of supported housing and those who benefit from our services are de3cribed below. Our ¢haritable aclNlties focu5 on the supp(Kt of homaless people and those al risk of homelessnass, with the alm of supporting Ih8m lo develop the skills andlor insight neeéed lo live independently. The Directors have tsken due regard of the Charity Commission guidance on public benefit and have satisfied themselves that the Gharilable aclivilles undertaken by the Organisat￿n are for the furtherance of ils charitsble purposes and 5a115fy the requirements of public benefit. Who us•s and benefit• from our sorvlces? Whilst our obj6els are not geographically limited, our funding $lream$ mean that the services we provide are primarlly to the residents of the London Boroughs of Croydon. Lambelh. Merton. Sutton and the Royal Borough of Kensington and Chelsea. We plan lo expand these services into neighbouring boroughs as opportunltles arl88. Our ¢ore dlent group is hom8185s and vulnerable people of all ages. Our accommodalion-based servlces cover a broaé range of customer groups, including young people al risk, teenage parents, care leavers, young families with no recourse lo public funds, single homeless adults, refugees. people with severe and enduring mental health needs and previously excluded rough sleeper5 with complex needs. Access lo our 8ccommodation-based 5ervices1s rnanaged vla the local 8uihority which fund8 th8 particular seNic8. This procesg ensures that our services continue dlreclly to meet the needs of the boroughs in which we work. During the year we have conllnued lo provide our Health and Wellbelng service to deliver focussed support to our customer8. Fundral8lng Charity law requlres charllies to make a statement reg?rdlng fundraising aclivilles. The legislation define5 fundraising as 'soliciling or otherwise procurlng money or other propety for charitable purposes,. Such amounts receivable are presented in these accounts in other operallng income. We have a Fundraising Strategy and a Slakehdder Engagement Strategy, both approved by our Board. We do not work with any professional fundraiseTS, nor do we use cold calllng or dlrecl mail. We are registered with the Fundraising Regulator and comply wlth their code of practice. The day-to-day management of all income generation is delegated to the executive team who are accountable lo the Directors. We have received no complalnls in relatlon to fundralsing 8Ctlvllles In the year under review. Evolve Housing + Support Directors. Report for the year ended 31 March 2025 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE In June 2019, the Board approved our 2019-22 Busine55 Plan. Our straleglc obleclive is lo inspire our team to create posllive change, reach more people and sustain our future. The pandemic meant we were unabl& to progress many of our plans. 2nd in June 2021. the Board agreed lo extend the term of the current plan lo 2024. An interim plan was approved for 2023-24. Work started on a new business plan in 2024125 bul was delayed by the changes in Chief Executsve. A new 3-year plan is being developed in 2025, for implementation from Aprll 2026. This reptyt glves a snapshot of the many achK8vements and Improvements in service provislon for our customers durlng the year lo 31 March 2025. Our primary focus remalns keeping customers and colleagues safe and maintaining the financial security of the organisalion. The Directors acknowledge that the achievements of the year were only possible through the hard work of our colleagues and the commitment of our partners, Induding the London Boroughs of Croydon, Lambelh, Merton, Sutton and the Royal Borough ol Kenslngton and Chelsea, Homes England, Greater London Authority, Calypso Browning, Govia Thame51ink Rallway, The E¢onomisl Newspaper and many charitable Irusls, corporations, groups and individuals who continue lo support our work. Oporatlons Al 31 March 2025. EvoSve provided 540 beds of supported houslng In the London Boroughs of Croydon, Lambelh, Sutton and Merton, and the Royal Borough of Kensington and Chelsea. The support we offer withln our accommodalion-based services is funded through local aulhorSty contracts, and we work to ensure that we are meeting the needs of our Gustorners and Ihe slraleglc needs of our commissloners. Our teams are equipped lo work with and 5UPPQrt the most vulnerable and complex people wllhin the communllles we serve and have the flexibility lo be able lo change our 8ervlce offering to meet new strategic needs if requlred. He81th and Safety Building saf8ty land fl￿ safety) conlinueg lo be a core priorlty In our day-104ay work. A signrficanl project 18 underway lo complete all flre remedial work8 on our buildlngs, Including relronlllng misl systerns al some larger locations, We have registered our bulldlngs over 18 meters wllh the Bulldlng Safety regulator in line with the requirements under the 8uSlding Safety Act 8nd have commSssioned In depth Buildlng Safety Case reports for these buildings which wlll inform our ongolng improvements lo our building safety measures. Improving Quality In the 2024 customer survey, overall customer sallsfaclion with Evolve 5eNices remalned hlgh at 89.70h. 1.5Vts rise on the previous year. Our over211 response rate was 65010. a fall from the previous year177¥vl. In 202415 we contlnued lo deliver on several areas of our Co-productlon Strategy, including tho dellvery of vo Peer Pathways programmes to our customers. We used the Tennanl Satisfaction Mea5ur85 and results of our 202314 survey to focus on area5 of improvement acros9 services. Our tsvo core areas of Goncem related lo complaints and maintenance. We reviewed our policy, Iralnlng and approaches lo dealing with Gomplaints in line with the r)ew Code of Practice. We completed a Setf-assessmenl and produced our first annual complaints report publlshed on our website. Our facilities team underwent a review and saw improved practice across seNlces. In the 202415 customer survey, we saw an Increase in salisfaclion for both complaints and maintenance. We continued to develop our practices for potential future Ofsted reglstration and received formal inspections from both Lambelh and Croydon Council in preparation. We reviewed our consumer standards and looked al areas for improvement across our services, under the Better Social Housing review. Evolve Housing + Support DireGtors' Report for the year ended 31 March 202S A particular focus was given to welfaro che¢ks and revlewing how these are completed and reported. Improvements were made lo poI￿leS acro$$ services induding Behaviour Management, Reward and Recognillon. Domestic Violence and CompensatS0n. Several events were held acr05S S8rvl¢es and we began customer leadership groups, made up equally of Guslomers and colleagues. These leadership groups address issues currenuy being faced in services and hold us to a¢¢ounl on where we may have gol things wrong. They cel8brale good practicè and reward customers Involvement with professional referenGe5 and vouchers for their lime. thin our sorvlces, we continued lo enhance our understanding. practice and approaches lo becomlng a more p5yGhologically informed organisalion and our response to trauma informed care and support. Our Psychological Wdlbelng Therapists continued lo share and develop practice improvements acros$ Services. Community SeNl¢es Our work and leaming programme for young people ¢onllnued In 2024125 through our youth mentoring programme. This worked wlth young people across our seNlces and helped provide positiv8 gxperienc8s and direct education and employment outcomes for customérs. 960A of customers who identified a need lo irnprove Ihelr physical health achleved thls and 86% better managing Ihelr mental health. Our Health and Wellbelng Programm8 received conlinuatlon fundlng and support from the National Lollery Communlly Fund In 2022 until March 2025, In 202415, we completed 433 Iherapeulic interventions. 210 customers engaged In physical health activities 3nd 109 health focused drop-ins were condu¢ted. 89 workshops were dellvered with 386 allendees. External fundlng ended for our counselllng service In 202314,. however, we continued to operate on a lesser scale with a reduction to four counsellors. Fundraislng Our focus In 202415 was based 8round challenge events and the Big Give winter appeal. Restricted Income for the year saw £30k briyjght in and £20k brought in through unreslricled funds. There was a change of focus from sorne trusts and grants. and this made appllcations dlfflcult lo be successful. Challenge events worln consists of cash al bank, in hand. deposlls and 8hort-18rm Inve$lment8 with an orlglnal maturlty of three months or less. Leased assets.. L8SS88 VVher8 ass•ts a￿ flnanced by leaslng agreements that give rights Ihal approximate to ownership (finance leases), the assets are treated as if they have been purchased outright. The amount capilalised is the present value of Ihe minimuni lease paymanls payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable lo the lessor. Depreciation on the relevant assets is charged lo expendilure over the shorlar of the esllmated usefvl e¢onomlc lrfe and the lemi of tha lease. Lease payments are analysed befyveen capital and interest components so that the interest element of the payment Is charged lo expendilure over the term of the leas8 and is calcula18d so that il represents a constant proportion of the balance of capital repayments outslandlng. The capital part raduces the amounts payable lo the lessor. All olher188ses are treated a$ operatlng leases. Their annual rentals are charged to exp8nditure on a slraighl-llne basis over the lerm of the lease. Reserves Income received, and expenditure incurred, for reslricled purposes Is Separately accounted for wllhln reslrlcted funds. Realised and unr&alised gains and losses on assets held by these funds are also allocated to the fund. 26 Evolve Housing + Support Notes fornilng part of the finaTrGlal statement8 for the year ended 31 March 2025 {contlnued) Judgémènts In applylng accountlng poliGles and key Source8 of e8tlmatlon uncertainty In preparing these finan¢lal s18tements. the key judgemenls have been made in respect of the following: whether there are indicators of impalrment of the organlsatlon's tangible 8nd intangible assets. Factors tsken Into consideration in reaching such a decision include the economlc viability and expected future finan¢lal performance of the asset and where it is a component of a larger cash-generating unil. the viability and expected fvlure performance of that unlt. The Board have considered the measurement basis lo determine the recoverable amount of asset5 where there are indicators of impairment based on EUV-SH (Existing Use Value - Social Housing) or depreciated replacement cost. The Board have also consIde￿d Impairment based on Ihelr assumptions lo define cash or asset generating units. the calegorisalion of housing properties as investment properties or property, plant and equlpmenl based on the us& of the asset. • what conslltutes a cash generallng unil when indi¢alor$ of Impalrmenl require there lo b8 an Impaimienl review. Each accommodallon service is regarded as a separate cash generating unit, and Impalrmenl reviews are undertakell at an indivklual scheme level. Other key sources ofestimat￿n uncertainty Tangible fixed assets (s&8 notes 13 and 14) Tanglble fixed assets, other than investment propertles, are depreciated over their useful lives taking into account re51dual valuès, 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-assessing asset lives, factors 5uGh as the condition of the as5el and its future In¢ome generating potential are taken into account. Residual value assessm8nls consider Issues $u¢h as future market condition5, the remaining life of the asset and projected disposal values. For houslng property assets, the assets are broken down Into components based on marbagemenl's assessment of the propertles. Individual useful economic lives are assigned lo these components. Rental and other trade re¢eivabl8s (debtors) (see note 15) The estimate for recelvables relates lo the recoverability of the balances outstanding at year end. A revlew Is performed on an IndIv￿Ual debtor basis lo Gonsider whether each debt is recoverable. 27 Evolve Housing + Support Not98 formlng part of the flnanclal 8tatemonts for the year ended 31 March 2025 {contlnuod) Partlculars of tumovor. operatlng c¢)sts and operatlng 8urplus Turnovor Opgr•tlng Op•ratlng Surplus 2025 2025 2025 Sodal hou•lng l•ttlng8 (Noto 51 Oth•r Soclal Houolng Actlvltl•8 10,889A55 9,426,730 1,462,725 Charges for support 8ervlcas Supportlng people 65,265 2,495,S76 194,875 2,495.576 {129,6101 13,450,298 12.117,181 1,333,115 ActIvItl￿ oth•r than Soclal Hou•lng Actlvltlo1 L8thng8 Grants arKJ Don8tion8 94,659 50,454 59,176 315,211 35,483 1264,7571 145,113 374.837 1229,2741 Surplu• b•lorn dl•po•81 of t•nglbl• Ilx•d u••t• 13,595A09 12,491.568 1.103,841 Proflt on dlspotsal of tanglble fixad 888&ts Op•r•tSng Surplu• 13S954 12491 508 1 103841 Tumov8r Oparatlrvd CO8t8 2024 OperatlTrJ Surplus 2024 2024 Soclal houslro lethng8 (Nots 51 Ott)er Soc181 Houslng Actlvltiab 9,754,416 8,726,130 1,028,286 Charges for support gervlceB Supporling people 74,063 2,562,681 183.008 2.562.681 1108,9451 12,391,160 11,471.819 919,341 Advltles other than Sodal Hou$lng Lathngs Olhgr 83.947 205,260 62,128 305,539 21,819 1100,2791 289,207 12,6￿.367 36T.667 11.B39.486 178.4801 840,881 Surplus bgforg dSsposal of tangible fixed 8588ts Profit on di8po$g1 of tangible fixed assets Operating Surplus 12,680,367 11.839.486 840.881 28 Evolve Housing + Support Notes fomilng part of the financlal statements for the year ended 31 March 2025 {contlnuedl Income and expendlture from 8oclal houslng lettlngs Supported houslng 2025 Supported houwng 2024 Income Rents n81 of Idènuflable service charges Service charge Incorne Amort188d govemmgnt gronts Other incom6 Turnov•r from •oclal hou$lng l•ttlnq8 3,670,545 6,748,252 401.190 69.486 10,889,455 4.313,397 5.039.829 401,190 9.754.416 E¥pondltur• Man8gem8nt Service charg8 costs Routine m8inl6nBnce Major r8palr8 expandStur8 Bad dtsbts DeprecIa￿on of hou8lng propgrt18s'. - annual charge Leg81 and con8ullanry f888 other costs 1.508,005 4.870,709 525,485 780,fj89 233,742 1.452.434 4,089.918 792,432 1,053,868 196.817 870,822 467,307 187,971 872,806 80,629 187,226 Op•ratlng •xwndSturn on •ocl•l h¢)u•ln9 l•ttlnq• 9.426,730 8,726,130 Op•r•tlng •urplu• on •ocl•l hou•lng l•ttlng• 1,462,725 1.028,286 Vold lo•• 448 963 Tumovor from nonwsoclal hou81ng1ottlng8 2025 2024 Conferenc4ng an(J nur8ary facilltlos 94.059 83,947 UnSts of hou81ng 8tock 2025 Nufflb•r 2024 Number Supportetj Hou81ng 1kn8d Unlts 434 Supported A¢wmmodation managed forothers 106 Total ThTn•d and manayd accornmodation 540 540 SLbPPOrted Ac￿MmodatIOn managad forothers at 1 April 2024 Units handed back lo landlord 100 119 13 Supportod Accommodauon managed for others at 31 March 2025 106 29 Evolve Housing + Support Notes forn)Ing part of the Ilnan¢lal $tstements for the year endod 31 March 2025 {¢ontlnuod) Oporating surplus 2025 2024 This is arrived al after Charg1￿[¢re￿Il1ng>'. Oepreciation of houging pr4perti85 Depreciation of other tangible flxed a889ts Pfoflt on disposal of ffixed a85818 870.822 64.297 872,806 68,432 Op&raUrg leasa chgrges- land & bulldlng 106,904 111.082 Audltorfs remun8raUon: - f8&8 pAyable to the organlsalion's aL*Yrtor forthe audrt of the annual accounts - fee8 for non-audit 86rvlc68 43,500 41,500 Deflnod ￿nt￿bu￿On pen$lon Cost 166.127 181,718 Employ••o 2025 2024 Staff costy Ilndudlng L8ad8r8hlp Team) con6181 of.. Wagos and salartey Soclal 9gcurfty costs Cost ofdefined conlrlbulion 8cheme Redundancy costs 5.422,301 478,985 166,127 4,541 4,8e9,877 427,503 161,718 47,813 Totol staff c08ts 8.071,954 5,506,911 Tho av8rg90 nurnter of employees Ilncludlng tho Leader8hlp Team} durfng the year, based on he8d¢ount. wa8 as follows.. 2025 Numb•r 2024 Number Admlnl8lr8Jon Housing and Support Cha￿tatI0 prolects 18 169 21 172 191 199 10 Dlrectors. and ••nlor •x•cutlves' remuneratlon Th8 Dlr8Ctors land members of the Boarejl are shown on page 1. SenKJr executives are the Chief Exgcutive and the Leadership T8Bm Bs dlsclosed on page 1. 2025 2024 Leadershlp TeBm erTrJlumer 432,257 407,331 Contrlbutlons to rThJnty pur¢ha8e p8ndon schem8S 29,851 32,044 462.108 439,375 Evolve Housing + Support Notes forming part of thè financlal statements lor the year ended 31 MarGh 2025 (contlnued) Induded in the above a￿ redundancy payments of £Nil {2024: £41,845) None of the rnemb8rs of th& Board received any emoluments from the organi88t¥)n12024.' nll}. Th8 total amoLbnl p8yablg to th8 Chlof Executive to 31 January 2025, who w8s alsts the h￿hest paid director in re8pect of emobJment5. was £173,04712024- £119,054). Pension contributions of£9,37112024- £ 6.3581 wero made to a money purcha88 schorne on h8r behalf. A8 B member of the orgBni8allon'8 personal pgnslon plan, the penslon ant￿lement of the Chlef Exacudv8 Is Identthl lo thoBe of 0th8r member8. Durfng th9 yaar. contributlons wère pald Into tho organlsatlon's dafined contribulSon pen￿On Èch8m8 on behaw of 5 senior ex8CUtiV8812024- 51. Tho ramun8rallon lexcludlng p8nBion conlrfbufjonsl pald to stsff Ilncludlng Leadership Team) eamlrwJ over £80,OC(I: 2025 Numb•r 2024 Number £70,000- £79,999 £80,000- £89,999 £90,CK)0- £99,999 £100.000- £109,999 £110.00￿£lI9,g9g £170.000,-,£179,999 The Iclal of pension contributions pald on behalf m8rnb8r8 of staff eamlng over £60,OC4) was £29,85212024'. £30,994). 11 Inlerest r•c•lvabl• and Ilmllar Income 2025 2024 Bank Interest recelvable 261,403 12 Interest payabl• and financlng co•ts 2025 2024 Interest payable on bank loan8 8nd overdrafts Bonk charyJes 231,408 4,331 264,364 6,226 235,739 270,590 31 Evolve Housing + Support Notes forniing part of the Ilnanclal sLitements for the year ¢nded 31 March 2025 (contlnuod) 13 Tangible flx¢d assets- houslng propertl•8 Frn•hokl Land Long L•o8•hold & Bulldlngs Land & Bulldlngs Tolal Land & Bulldlngs Cost ¢x valtsallon.. Al l Aprfl 2024 Addition8 tI8po8815 35,778,355 129,084 1,107,651 36,888,000 129,084 At 31 March 2025 35,907,439 1.107,651 37,015,090 Depre¢i811on.' At 1 Aprfl 2024 Charg8 fr)r yoar DIsp08als 11,583,045 853,911 521.850 16.911 12,104,695 870.822 At 31 March 2025 12,436,956 s38.￿1 12,975,517 N•t book vAlu• at 31 March 2025 23A70,463 569.090 24.039,573 Ng1 book value al 31 M8r¢h 2024 24.195.310 588,001 24.781.311 2025 2024 Works to propertles lrnprovements to ex68tlng prop8rtle8 capltallsed Major repair8 8xpondltur8 charged to Staternenl of Compr8hen81vg In¢omg 129,084 760,689 1,OS3,888 889,773 1.053,888 Capltal grant- H￿SIng Prop6rt508 20 059 486 20 059 486 Impalfm•nt Th8 organisallon consider8 ga¢h 8c¢c*nmodatk)n servlce lo r8pr6s8nl 8 89parate cash generallng unil ICGUI whgn 8888sslng for Impalmienl In accordanc& wlth Ihe requiremants of FRS102 and SORP 2018. Impairnient a8se95menls 8re c8wrigd out on an Indfvldual scheme ba￿8. Propertlg1 h•ld for ••¢urlty Propoty vAth a not boDk value of £12.431.609 was pbodged as Bocurfty 8131 Mgrch 202512024- £12,790,339). 32 Evolve Housing + Support Notes fomiing part of the Ilnancial statgmants for the year endad 31 Ma￿h 2025 (contlnuedl 14 Other tangibl• fixgd assèts Non-Houslng Fr••hold Land and Buildlng• Flxtur•8, flttlngs, equlpment and v•hlcl•s Total othor Fixod 1$8•ts Cost or valuation Al 1 April 2024 Addf(K)ns Di8p05als 2,81fj.780 1,324.293 137.555 4,141,073 137,553 At 31 March 2025 2,816.780 1.461,848 4,278.028 Dewaci8tion Al l Aprfl 2024 Ch8Tge for y&or Di8posalg At 31 Mar¢h 2025 675.871 62,976 1.316,158 1,321 1,992,029 64.297 738,847 1.317,479 2,056,326 Nel book value At 31 March 2025 2,077.933 144,309 2,222,302 Al 31 M8r¢h 2024 2 140909 8,135 2.149.044 15 D•btor8 2023 2024 R•celvable wlthln on• y••r Rent and 88rvlc8 charge arTear8 Le8B.' PToviBion for doubthil dab18 917,009 1554,5031 362,566 928.224 (462.4821 485,762 Trade debtors other debtrJr8 Prep8ym&nls and accrued Income 282.277 10,428 131,635 398,108 422,721 97,543 786,904 1,384,134 16 Croditor•: amounts falllng due wlthin ono yoar 2023 2024 Loans and borro¥￿ngS (Note 201 Trade crg(rrto Taxation and soclal s8CUrtty othef rxodtiors D8f8rred capital grant (Note 19) Accruals and deferred income S86,882 458,438 104,389 159.312 401,190 1.408,060 531.790 474.277 117.143 250,787 401,1 1.385,637 3,118,271 3,160.824 Th8 bank loans are repayable in instslmentS Ovgr 10- 15 years. The bank loark8 arè secured by fixed charges over the freehold prope￿"eS at stockwell Road. Alex8ndo House, Ingfam Court, Burton-VVhit8 House and Kingston Road. The loans bear interest al varfable rate8 calculated al a mafgln above the Base Rate. One loan has an Interest rate of 3% fixed over thè térm ofthe loan. Evolve Housing + Support Notos formlng part of the flnanclal statoments for the year onded 31 March 2025 (contlnued) 17 Credltor8: amounts falllng due after more than one year 2025 2024 Loans 8nd borT￿ng6 (Note 191 D•f8rr8d ca￿tal grant (Note 181 2,704,344 13,439,015 3,298,937 13,840,205 16.143,359 17,139,142 18 Doforr•d capltal grants 2025 2024 At 1 Awll Grants recelved during the year Ralaasad to Inc0rn8 durfrvJ the year 14,241.395 14.642.585 1401,190) 1401,1901 At 31 Marc 13,840,205 14,241.395 Total valu8 of grgnts recelved 20.059 486 19 Loans Jnd borrowlng• Malurfty of dgbt.. 2025 2024 In one year cf1888, or on demend In mor8 than ong year bul not more than tsvo year8 586,882 017.888 531,790 565,531 In more than yeaf8 bul not more than fve years In more than flvo yao 1.391.489 094.967 1,544,759 1,188,847 3.291.226 3,830,727 20 Panslons Evolve provtd8s a Defined Conlribthion Pension Schgmo that 1$ open lo 811 gmployeos. 21 Operatlng leases The organisat1￿ hatl mlnlmum lease payments under norTr