REGISTERED COMPANY NtJMBER: 042>5958 ffjnglad alld Wales) REGISTERED CHARITY NUMBER: 1112553 ort of the Trustees and Unaudited Financial Siatements for tbe 18-MoDth Period Ended 31 March 2025 for Housin Initi*dves Ltd Alexander Myerson & Co Limited Alexand¢r Hous¢ 61 Rodney Street LiveTrool MetseysÈde LI 9ER
HollsinLr IDitiatives Ltd Leoal and Administratii.'e Information for the 18-IIonth Period Ended 31 March 2025 Trustees P N Merity M Ollivier E Piperdy M A Blanehard Company Seeretary Mr. Tery Pritchard (appointed 101091?5) Charity Number 1112553 Company Number 04?55958 Revi5tered office 151 StaDley Road BooTle L?0 3DL Indepelldent Examiner Paul Burns Bsc Holls BFF FCA Alexander Myerson & Co Linjited Alexander House 61 Rodney Street Live001 Merseyside LI 9ER Bankers Lloyds Bank pl¢ 137 Telegraph Road Heswall W[ CH60 OAN
Hou5in¢J Inltiatives Ltd Contents of the Financial Statements for the 18__Iqonth Period Ellded 31 Mar¢b 2025 Page Report of the Trustees Statement of Trustees RespoD5ibiiities Independent Examiner's Report Statement of Finallclal Activities Balan¢e Sheet 6 to Notes to the Financial Statements to 13
Hou5ill<T Initiatives Ltd ort of the Trustees for the 18-_l¥Ionths Period Ended 31 Marth 2025 The trustees present their report and financial sratements for the 18-MoDtbs Period Ended 31 March 2025. The ac¢ovnts bave been prepared in 3ccordan¢e with the accoullting poIicies set out in aote I to tbe accounts and cornply with the ChIty'S Tnemorandum and arricles of associatio the CompaDies Act 2006 and "Accounting and Reporting by Clwities: Ststement of Recommended PTacrice applicable to cbarities prepaTing their accounts 13] accordance with tbe FitWLcial Reponing Standard applicable in the UK and Republic of Ireland ffRS I O?)" (as amended for accounting perÈods commencing from l January 2019). Objeetives 2nd Activities Housing Initiatives (UK) Limited wds founded in ?001. as a not-for-profit cornpany. Tbe aim of Housing Initiatives (UK) Limited is to provide wpported housing to people learnillg disabilities and other vu]llenble people in the Greater Merscyside area. The trustees ID accordance witb Section 4 of the 2006 Cknities Act bave taken due regard of tbe public benefit and acted a¢¢ordingEy. Achievements 2nd performan¢e T])roughout the period Housing Initiative5 held mandatory and non-Ellandatory accreditations and licenses via the Local Authorities wbi¢h regulated rbe higb standards of the properlies. the application for HI io be¢ome a Registered So¢ial Landlord (RSL) is ongoin8. although has provcd to be a much lengl'tr and owre complex process tban had been envisage Many of our teronts are long-standing and tbis has ld a stabilising effect on their lives and seen them become rnOTe integrated into their local comtllunities. Due ro ongoinc Vokds at Hougmomont Grove the trustees took the decision to sell tbe propcty dwjng the year. Reserves policy The funding policy of the charity is to maintaia witbin ullrestricted fijnds at least 2 montbs, rUlln1 costs to ensure that Lt caD continue to meet its obligations. The Erustec5 are of the opinion that cash-flow is sufficiellT to continue the on-going work of the charity. Financial review The chariry does not receive any ryit suppon iowards the provision of accolluuodatio obtaining tDOrtgages for properties and receiving rental in¢oEtLe from Tenants. However, the cbaTiry will continue to seek general unrestricted funds to further the charity reserves and develop tbe infrasthjcrure of the charity. Matthgetnent reports are produeed and are reviewed by the board at eacb board meew to ensure that the charity Properly manag¢s ttLe fund5 avallable. Over the 18-month period (October ?023 - March 2025) the rental income has flu¢nled due to the de-conllnissioning of services a couple of years ago and the fjlling of volds. As of Marcb 20?5. voids are a5 follows.. Gainford- I x voids St L x voids Investment poliey The chaTity's investment policy CUTrently is to hold aay reserves at the bank RAsk policy The board of tsustees has caTried out risk aSsesSnlts and aim to lessen the risks to the charity &9 far as p055ible. Governance The chaTity strives to enwr¢ that there ar¢ adequate trustees witb a diversity of skills.
HousinLY Initiative5 Ltd ort of the Trustees for the 18-NIonth Period Ended 31 March 2025 External The charity continues to maintain its profile within the local community, thus ensurino the charity is sensitive to the commuDity's need5. Financial Financial procedures are in place and adbered . Accounts are monitored tegularly. Operational The chariry ensures that 5Uitably qualified/skilled staff are recruited. Structure9 govermallee and management Housing Initiatives (LTK) Limited was registered as a ¢barity on 19 December 2005. charity llUllLber l 112553. Septrmber 2019, Housing Inltiatives merged with Expect LtsL The chariry is governed uader its Memorandum and Articles of Association incorporated on 20 July 2001, as amended by special r¢solution daied Marcb 2016 and on 30 August 2019. The trustee5, who are also the directors for the poSe of company law, and who served duTing the period were.. Mr. Peter Neil Merity Miss Margaret Ollivier Mr. Mark AdTian Blanch8rd (appointrd 1514124) Mr. Ebrahirn Piperdy (appointed 05161?4) The Board of Trustees aiLDS to ensure its rncmbers provide a good mix of skills, knowled£e and experience in relation to providing governance and management for a charitable orgaDisatiotL The existing Board zuembers nominate candidates on theit skill, abilities aud experience in various ¢apacitÉes of tbeir working and everyday life. Small cornpany provisions This report has been prepared in accordance vjitb the special provision5 relating to small companies within Part 15 of the Companies Act 2006. The trngiees, report was approved by the Board of TrLtste Approved b der of the board of trteeS on ...... and sign¢d on its b¢half by: ty-Trusi
Hollsillts Initiatives Ltd St2tement of Trustees Re5 onsibiliries for the 18-]I,lonth Period Ended 31 f*larch 20?) The trustees, who are also the Directors of Housing IJ]iriatives IUK) Limited for the purpose of company law: are responsible foT preparillcr the Trnstees Report and the accounts in accordartce with appJcable law and United Kingdom Accounting Standards Iunited Kinodom Generdlly Accepted Accountinir Practice). Company law requires the trustees to prepare accounts for each finaucial year which trives a true and fair view of the stste of affairs of the C}ry and of the illcoming resovr¢es and application of resources, 3L¢luding the income and expendittire, of the chan'table company for that yebr. In PTepaTing these accounts, the trnstees are required to. Select suitsble accouating policies and tben apply them ¢onsisteutly' Observe tbe methods and principles in the Clwities SORP. Make judgements and estimates that are reasonable and PTudeDI State wlkether app]icable UK Accouuiing stsud&s have been followel subject to any material deparnwes disclosed and explained in th¢ accounts. and Prepare the accounts on the going coueern basis unless il is inappropriate to presume that the charity will ¢ontiDUC in operation. Tbe trustec5 are responsible for keepiJLg adequate accourjting records tbat disc105e with reasonable accuracy at any time the fiaancial position of the charity and enable them to ensure that the accounts coJJJply with the Companies Act ?006. They are also responsiTr>l¢ for safeguarding the assets of the charity alld hence for taking reOnable Steps for the prevention and detection of fraud and other irregularities.
Inde endellt EIaminer's Re Initiatives ort to the Trustees of Ltd IndependeJAt examiner's report to the trustees of HouSiDg Initiatives (U.K) Lrd ('the Company,) I report to ti]e charity trnstees on my examination of the accounts of the CoJJ¥ally for the 18-Month PeTiod Ended 31 March 20?5 Responsibilities 2nd basis of report As tbe chaTity'S trnstees of the Company (and also its dittctors for the purposes of company law) you are responsible for tbe preparation of tbe ac¢ounts in accordance with tbe requirements of tbe CompaDie5 Act ?006 {*he ?006 Act,). Having satisfied myself that the accouats of tbe Co]llpaDy are not re(ired to be audited under Pan 16 of tbe 2006 Act and are ellbIe for independellt examinatio I report in respect of my examiaatioll of your charitils accounts as caTTied out under Section 145 of the Clwities Act ?01 I Cthe ?01 l Act). In carying out my exatuination I have followed the Directions given by the Charity CoD]mission Und Secti¢)ll 145(5) (b) of the 2011 Act. Independent examiner's statement I have ¢onwleted rny examinatioL I confirm that no tter$ have come to rny anention ill corneetion with the exarnination triving me ¢au5e to believe: accounting records were Dot kept in Tespect of the Company as required by Section 386 of the 2006 Act. or the accounts do nor accord with those Tccords" or the accounts do not comply with the accounting requirements of Section 396 of the ?006 Act other thaD any requirement rhat the accouurs give a true and fair view w.¢h is not a matter co]]sidered a5 part of'an independeot examination. or the accounts have not been prepared in accordall¢e with the methods and principles of the Statement of Recommended Practice for accountin8 and reponing by ¢lwities (applicable to charities preparing their accounts in accordallec with the FinaJ]cial Reporting Standard applicable ill the UK and Rcpublic of Ireland IFRS 102)). I have no concerns and have coroe across no other matter5 iii coiintcuoll with the exa]nination to which attention should be drawn in tknis report in order to enable a Proper understalldwg of the accounts io be reacbed. Paul Burns Bsc Elons BFP FCA Alexander Myersoll & Co Limitsd AJex3nder House 61 Rodney Street LiY¢rpool Merseyside LI 9ER Date: ........
llousin Initiatives Ltd Statement of Financial Actisqties Includin Income and Ex ellditure Aceount for the 18-Month Period Ended 31 I'larch 2025 30.9.?3 Unrestricted Unrestrieted fund5 funds Notes INCOME AND ElOWETs FROM ChArit&ble activities Propety Rentsl Income Other income 211,34? 145,5?0 Investmeut income 109 150 Total ?11,451 145,670 EXPENDIT.LIRE ON Charitable activities Expenses and Governance costs 12?,787 187,653 NET INCOMEI(EXPENDITURE) 88,664 {41,983) RECONCILL4TION OF FUNDS Totsl fimds broughi fonvard 569,012 610.995 TOTAL FUNDS CARRIED FORWARD 657,676 569,012
Hou5in¢y Initiative5 Ltd Balance Sheet 31112rch 2025 30.9.?3 Unrestricted UDre5tricted fun(ts funds Notes FIXED ASSETS Tall1¢ a55ets 962,706 1,138,505 CURRENT ASSETS Debtor5 Cash at bauk 1,839 121,380 13.95? 19.193 CREDITORS Arnowiis falling due within one y¢ar 1?3219 33,145 (73,790) (I li,503) NET CURREryIT (LIABILITIES)IASSETS 49,429 (80 358) TOTAL ASSETS LESS CITRRENT LIABILITIES 1,021.135 1,058,147 CREDITORS Amoullts falling due after more tban one year io (354,459) (489,135) NET ASSETS 657,676 569.012 FUNDS Unrestricted fuaas 12 657,676 569 01? TOTAL FUNDS 657 676 569,012 The charitable eon)pany is entided to exemption from audit under Section 477 of the Companies Act 2006 £or tbe 18-Month Period End¢d 31 March 2025 The members have not required the company to obtain an wdit of its financtal statements for tbe 18-Month F10d Ended 31 Marcb 2025 in accordance 7th Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for. (a) ensuriag that the charitable company keeps ac¢ountitig records that cOnlY witb Se¢tions 386 and 387 of the Compallies Act ?006 aad preparing financial statements which trive a trne and fair view of the state of affairs of the clwitable coropany as at the end of each fanCIal year aad of its sUlUS or deficit for each fiThancia] year in accordance with the require2nents of Sections 394 and 395 and which othernryse con4)ly with the requirements 0£ the Compani¢s A¢t 2006 Telatillg to fman¢ial sarements, so far a5 applicable to the charilable compauy. (b)
Housin Illitiatiiie5 Ltd Balance Sheet- eontiTAued 31 _TlIarch 202) These financial statements have been prepared in accordance with the provisions applicable to cknitsble companies subject to the Small companies re.trime. Cial statements were approved by the Board of T and authoIised for issue on . and weTe si.oned on its behajf by: stee Company Registration No. 04255958
Housints Initiatives Ltd P'otes to the Financial Statements for the 18-Tlonth Period EDded 31 March 2023 ACCOI]NTING POLICIES Basis of preparintr the fancial statements The finan¢Jal statements of the Chltable company: wbich is a public benefii entity under FRS 10? have b¢¢n prepared in accordance with the Chartties SORP (FRS I O?) 'Accounting and Reporting by Charities.. Statement of ReConllea¢d Practiee appkncable to chaTities prq)arintr their accounts iu accordallce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January ?019)', Financial Repothg Standard I02 The Fitwicial Reporting Standard applicabl¢ ID the UK and Republi¢ of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The charAty has taken advantage of the provisions in tbe SORTr for ¢lwities applyi0 FRS 102 Update Bulletin i not to prepare a Ststement of Cash Flows. Income All income is rOgniSed In the STaternent of Fiaancial Activities once the cknity has entitlcment to the fijnds, it 15 probable that tbe iocome will be received and the amount can be measured Teliably. Income from government grants and other grants. whether 'capitsl' grants or'reveaue, Erants, is recognised when the cbaTity has eotitlement to the fun<ts, any perforniance conth'tions attached to the item(s) of xncome have been met, it 15 probable tbat the income Tll be received and the amount can be measured Teliably and is llot deferred. Rental incomc is included when receivable. Investtaent income is recorded when receivable by the C11ty. Expendfiture Expenditure is included in the Ststement of Financial Activities on all accnwl basis, inclusive of ally VAT wbich cannot be recovered. Charitable expenditure comprises thse costs incuTred by the cEwity the delivery of its activities and services for its benefieiaries. GovernaDce costs represent costs associated with meeting the eonstitutional and statutory requirements 0£ the charity and include tbe indepcndent ¢xamination. Impairment of red assets Al each reponioE end date. the charity reviews tbe carryiag amounts of its tangible and intan8ible assets to detcrniin¢ wbether there is any itidication that those assets bav¢ suffer¢d an itupairmcor loss. If any suGh indication exists, the coVebIe amount of the asset is estimated in order to deteTmine the extent of the impairn)ent loss (if any). Tangible red a55ets Depreciats"on is provided at the following aDnual rates in order to vjrite off ea¢h asset ov¢r Lts estimated us¢£ul Ixfe. Freehold property Long leasehold FixtLwes and fittings 20/9 on Cost 20/0 on Cost 30'h on G05t Taiation The chaTiry is exernpt from coryoration tax on its chan"table activities. Charitable fullds Unrestiicted funds are available for use at the dis¢retion of the tn)stees in SJrtheran¢¢ of theii charÈtable objectiv¢s.
Housino JDitiatives Ltd Note5 to the Financial Statetllents - continued for the 18-11.Ionth Period Ended 31 Thlarch 2025 ACCOUNTING POLICIES - contiJ)ued Hire purchase and leasino commitments Rentals paid under opeTa¢ing leases are c]wged to the Stster(Lent of FiDancial Acupities on a straiJt-line basis over the period of the lease. PensioD costs and other post-relirement benefits The chItable company operates a defined ¢onthbution pension scheme. Contributions payable to the clwitable compangs penSLon scheme arc charged to the Statement of FiJwiciaI Activities in the period to which d]ey relate. Goino concerll At the time of approving the financial ststements, the trlee$ have a reasonable expectation that the charity bas adequate resources to continue in operational existence for tbe foreseeable future. Thus, the tnreeS continue to adopt the going concern basis of accounting in prepari0 the financial statements. cRIcAL ACCOUNTtNG ESTIMATES AI¥4D JUDGEMENTS In the application of the Clwitys accounting policies. the Intte$ are reqUId to make judgements, estimates and assuillptions about the carryin. o atuount of assets and liabikn'ties that are not readily apparent from other SOUTces. The esttmates and associated &55UmPtions are based on historical expeTience and other factors that are considered to be relevallL Actual Tesults may differ from these e][Dates. The estinjates and underlying assumptioDS are reviewed on an ongoing basis. Revisions to accounting estiutcs are recognised in che period in which the esiitnate is revised where the revision affects ODly thai period, or ill tbe period of the revision and future periods where the rcvision affects both current and future periods. tNVESTMENT INCOME 31.03.25 30.9.23 Deposit account intercst 109 150 CKARITABLE ACTIVITIES 31.3.25 30.9.23 Wages Social security PeDsions Computcr cos Rates and water l&surdnce Services to tenants Tclephonc Repairs and maintenance BaDk charges Suudries Freehold prop¢rry depreciation Lontr leasehold (lepreciation Trainino Cost Bad debts write off Bank loan inl¢r¢st Profit on disposal asset 58,978 6,164 73,100 15,633 831 3,157 7,016 1,225 7,354 458 11,089 38? 1,633 18.168 13,102 1,505 10,649 4.677 18,711 660 19,988 1.521 22,530 19.652 3,013 37,576 (99.715) 29.051 112,685 182.192
ousinu Initiatives Ltd Notes to the Financial Statemellts - continued for the 18-fvlollth Period Ended 31 Nlarch 2025 Support costs Governallce costs Accountancy fees Legal fees 4,500 5.602 4.?00 10,102 5,461 Total resources expended 122.787 187.653 Governance costs intlude payments to the accountant of wbich £895 (?0?3_£895) was io respect of independent ex8rnination fees. NET INCOMEI(EXPENDrruRE) Net income/(expenditwe) is stated aftex clwgingl(crediling): 31.3.?5 30.9.23 Dcprcriation- owlled assets 31.270 TRUSTEES, REMUNERATION AND BENEFrrs There were no trees, remuneratiou or other benefits for the 18-Month Period Ended 31 March 20?5 nor for the year ended 30 September 2023. Trustees, ¢ipen$es There were no trustees, expenses paid for the 18-Month Period Ended 31 March 2025 nor for the year ended 30 September 2023.
Housino Initiatives Ltd Notes to tbe Financial Statements- Continued for the 18-l¥lollth Period Ended 31 i¥larch 2025 STAFF COSTS 31.3.2i Wa(Fes and salaries Social security costs Other pension costs 58.978 6.164 73.100 15,633 831 89,564 The average montbly nuDJber of employees during the year was as follows: 31.3.25 30.9.23 Property rental No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSETS FixtUTes Freehold propery Long leasehold fillings Totsls COST At l October 2023 Additions Disposals 933,524 655,086 2,403 1,591,013 {18?.529) 182 529 At 31 March 2025 750 995 655 086 2,403 1408 484 DEPRECL4TION Ai l October 2023 Cbarge for year Disposals 270,303 179,803 19.652 2.402 452.508 42,182 48 912) 48 91?) At 31 MaTGh 2025 ?43 921 199 455 2.402 445,778 ET BOOK VALUE At 31 March 20)5 507,074 455,631 962,706 At 30 September ?023 663,L?I 475 283 1138,505 The &¢ehold and leasehold properties were valued on 31 March 2009 by Collerton5 Surveyor5 and were valued at Dmtket value asSU[llg vacani possession. At 31 March ?0?5, had th¢ revalued assets been caTried at hisioric cost less accumulated depTeciaiion and accumulated impairment losses, their caThyin8 amount would have been approximately £571,183 (2023 £585,799), Thcie is a fiTSt legal cbarge over 7 St Edmond's RoaQ 14115 Tarbrock Coun 445 St2nley Road and 443 AIB Staoley lioad. Social Investment Busitiess (forn]erly FuEur¢builders EnJand Limited) has a first legal ¢haToe over ?_8 fjaimford Road. The bank IoaD5 secured on Ihe properties amounied to £407.016 (2023.. £537.761} whieb is 4? % (?023 . 48 % ) of the net book value of the propertie&
Housin Initiative5 Ltd P*Otes to the Financial Statements- Colltillued for the 18-11 Ionth Period Ended 31 Th,lareh 2025 DEBTORS: ANIOUN'TS FALLING DifE WITHIN ONE ITAR TTade debtors Prepaymetkts and aecrued income 1,410 4?9 1,715 1,839 13.95? CREDITORS: AMOUNTS FALLINGDUE WITHIN ONE YEAR li 31.3.25 30.9.23 Bank loans and overdrafts (see note I l) Trade creditors Social security and other tsxes Amounts owed to group undeJDlongs Other crethtors Accruals and d¢feThd income 52,557 176 1,140 10,895 48,626 2,246 1,994 56,204 233 4,200 9.0?2 73,790 113,503 io. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.25 30.9.23 Ballk loans (s¢¢ Dote I l) 354,459 489 135 ii. LOAIYS An analysis of the n]aturity of loans is given below. 31.3.25 30.9.23 AmounES fallin2 due within onc year on demalld: Bth108nS Amoullt$ falling betwe¢n two and Gve years: Bank loaDS 263.985 222,040 Amounts falling due tn more thao five years.. Repayable by insta]ments: Baak loans more 5 yr by instal Sccuriry ha5 been given in respect of bank loans and ovcrdrafts of £407,016 (2023: £537.761). The bank borrowings with Lloyds B8nk of £220,?88 {2023: £333,180 are secured by a fixed and floating charcre over the fouT of the frc¢lLold properties. The baok borYowirLg5 with Social Tnvestment Bu5incss (forTrcrly Futurebuildets En-land Limited) of £186:728 (2023.. £204,575) are secured by a fixed and floatino ch8r8e over the leasehold properties.
Hou5inry Initiatives Ltd Notes to the Financial Statements - continued for the 18-filonth Period Ended 31_N.larch 202) 12. MOVEMENT IN FUNDS Net At 30.9.23 movement in funds At Unrestricted funds General fund Revaluation reserve 217,412 351.600 102,343 (13,679 319.755 337.9?1 569,012 88,664 657.676 TOTAL FUNDS 569,012 88.664 657,676 13. ULTIMATE PARENT COMPANY Expect Litllited is the pareot company of Housing Initiatives (UK} Ltd, wbich draws up consolidated fanciaL statements. The address of Expect Lin]ited's regisiued office and principal place of busincss is 151 Staraey Road, Boode, Livetpool, Merseyside. L20 3DL. The Charity registration number of Expect Limited is 701331 and the Company registration Dumber is 02357285. Copies of consolidazed accounts of Expect Limited may be obtained from the Adjninistrator at 151 Stenley Road, Bootle, Liverpool, Merseyside, L20 3DL. 14. RELATED PARTY DISCLOSURES Th¢ COUallY has takell advantsge of the dis¢losute exemptions to which il is entitled regarding transactions with its parent as a l OOO/o owned subsi(tiJry company w1]ll the group. There are no other related paty traSaCaons during the curnt or previous periods. 15. COMPANY LIMITED BY GUA114NTEE The charitsble compatty is limited by guarantee and has no slwe capital. In the eveJJt of the ¢lLaritsblc company being wound up, the liabih'ty of tbe member in respect of their guarantee is limited to £1 O. 16. ANALYSIS OF IYET ASSETS BETWEEN FUNDS All of the assets and liabilAties ststed in tbe Balance Sheei consist of Unresuict¢d Funds.
Hou5ino Initiatii'e5 Ltd Detailed Statement of Financlal AttiTrities for the 18-ryIollth Period Ended 31 Nlarcb 2025 INCOME AND ENDOWMENTS Investment income Deposit account interest 109 150 Charitable activities Clwitable Tentsl income Other income ?08,603 2,739 145,0?6 496 211,342 145,520 Total Incoming resources 211,451 145.670 EXPENDITURE Charitable activides Wages Social se¢urity Pensions COmpur costs Rares and water Insurance Servi¢cs to tenants Telepboue Repairs and rnaint¢nance Bank cbarges 5undries Freehold propety depreciation Long leasehold depreciation TraFLing cost Bad debts write off B8llk loan interest PTofit on disposal asset5 58,978 6,164 73,100 15,633 831 3,157 7.016 1,225 7,354 458 11,08? 38? 1,633 18,168 13,10? 1,505 10,649 4,677 18,711 660 19.988 444 1.521 ?2,530 19,652 3,013 6J28 37,576 99 715) 29,OSI 11 ?,685 182,192 Support eo$t$ Governance costs A¢countancy fees Legal fees 4,500 5,602 4.200 1,261 10.102 5,461 Total resources expended 12?,787 187,653 Net expenditure 41.983)