Charity registration number 1121825 (England and Wales)
Company registration number 06187822
INDEPENDENT HOUSING UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT HOUSING UK LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
P Shanks
J Murarji
G Mason
(Appointed 29 May 2024)
(Appointed 20 June 2024)
Charity number (England and Wales)
1121825
Company number
06187822
Registered office
Suite 1, Armcon Business Park
London Road South
Poynton
Cheshire
Uniled Kingdom
SK12 1LQ
Audbtor
Azets Audil Services
Alpha House
4 Greek Street
Stockport
United Kingdom
SK3 8AB
Bankers
Barclays Bank PLC
Leicester
Leicestershire
United Kingdom
LE87 2BB
Solicitors
Frettens Solicitors
2 Christchurch Road
Ringwood
Hampshire
BH24 1DN

INDEPENDENT HOUSING UK LIMITED
CONTENTS
Page
Trustees, report
Slatement of trustees, responsibilities
Independent auditor's report
Statement of financial activitles
10
Balance sheet
11
ststement of cash flows
12
Notes to the financial statements
13-23

INDEPENDENT HOUSING UK LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial slalements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial slatements and comply wilh the charity's governing document. the Companies Act 2006 and "Accounting
and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in
accordance wilh the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 102)"
(effective 1 January 2019).
Objectives and activitles
Public benefit
Our charity's purposes as sel out in the objects contained in the company's Memorandum of Associalion are to..
'To relieve the needs of peoplè in vunerable circumstances including those with learninig difficulties, mental health
problems andlor physical disabililies by ensuring that they have access lo quality social housing which is suitable to
their individual need and preference,.
Acliwtiès
Public benefrt
Our main activities and who we try to help are described below. All our charitable activities focus on the provision of
intensive housing management services to further our charitable purposes for the public benefit. We provide homes
to help people remain in their communily with the help and support they need to thrive.
Who used and benefrted from our services?
Continuing with our objectives, the services we provide to people with learning disabilities, mental health problems
andlor physical. homelessness and those restricted the enlering the private rented sector with in England and
Wales
IHL UK Ltd is proud to provide quality accommodation with Housing Managemenl andlor support to over 500
tenants with the aim of continuing to grow in a robust manner.
We will continue lo deliver our strategiG plan by slfengihening our geographic area of operation and customer base.
This will continue to cement our relationships wilh commissioners, our customers and stakeholders alike.
We will ensure we listen to and strive lo adapt properties and services thal are shaped by our customers, taking into
account market conditions and always delivering value for money.
During the period we have built on our existing setvices by working closley with our stakeholders. commissioners
and local authorities to ensure we can support Ihem in developing their housing strategy.
Charitable Activitles
Ensuring our work delivers our aims we are embracing our Health and Well Being programme lo our customers.
We are conducting a tenants survey to ensure we are delivering our promise. A newsletter is being proposed for a
tenants voice and also lo help promote peer support and activities.

INDEPENDENT HOUSING UK LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and perfonnance
Significant activities and achievements against objectives
Ensuring our work delivers our aims
We undertook a comprehensive review of our aims, objectives and activities in the prior year and will be
implementing a new five year strategy which we will be piomoting end of January 2025. The review is helping us to
ensure our aim, objectives and activities remained focused on our slated purposes. We referred to the guidance
contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives
and in planning our future activities. The trustees continue to consider how planned adivities will contribute to the
aims and objectives they have sel.
The focus of our work
Our main objectives for the year continued to be the provision of intensive housing management services to the
tenants which we serve and the promotion of their independence through personalised support.
Providing a range of services which are reflective of relevant quality standards and maximise the potential of each
individual tenant.
Focusing on meeting the changing needs of tenants and providing bespoke services lo meel these needs.
Working in partnership with other agencies. including care provider partners, social workers, and various other
stakeholders including families, to ensure the besl possible outcomes for our lenanls.
Enabling our tenants through collaborative working practices and seeking their irTrput into making positive impacts
upon their living standards and environments.
Financial review
Financial Position
The charity has made a deficit ft)r the year of £60.475 (surplus in 2024 of £164.132).
The charity maintains a reserve figure of £511,029 (2024 - £571,504) and in the current financial year it has
registered a surplus which should lead to a growth in rese￿eS al the end of the current financial year.
Rese￿eS policy
The Management Committee has examined the charity's requirements for reserves in light of the main risks to the
organisation. 11 has established a policy whereby the unreslrided funds not committed or invested in tangible fixed
assets held by the charity should equale to approximately three months expenditure. The rese￿eS are needed to
meet the working capital requirements of the charity and the Board of Trustees are confident that at the level they
would be able to conlinue the current activities of the charity.
We confirm that current reserves more than meet Ihese objectives.
Major risks
Risk management
The Iruslees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
The Board has previously conducted a review of the major risks to which the charity is exposed and a risk register
has been established and is updated monthly to be reviewed by the Senior Management Team and Chief Executive.
This is the regulady reviewed by the Trustees and corrective measures taken as and when required.

INDEPENDENT HOUSING UK LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Plans for future periods
The charity will Gontinue to develop new relationships with slrategic partners and will look to develop new schemes
Ihat complemenl our existing servi￿$ and Ihal will nol place stresses upon the current infrastructure of the
business.
The charity will review all existing and new partnerships to ensure thal the quality of the PToperties and
management services delivered to tenants is not at any time compromised.
Structure. govemance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 27 March 2007 and registered as a
charily on 5 December 2007. The company was established under a Memorandum ofAssociation which established
the objects and powers of Ihe charitable company and is governed under ils Articles of Associabon.
In the event ofthe company being wound up members are required to conlribute an amount not exceeding £10.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were..
JEHall
{Resigned 18 October 2024)
P Shanks
J Murarii
G Mason
Mr E Forder
(Appointed 29 May 2024)
(Appointed 20 June 2024)
(Appointed 24 September 2024 and resigned 29 October
2024)
Recruitmellt and appointment of truste8s
Knowledge and experience of the sector. senior leadership experience and Iraditional busines5 and financial skills
are well represented on the Board. In an effort to maintain the broad skill mix, members of the Board are requested
to provide a list of their skills (and update it each year).
We are cU￿entlY restructuring the Board to provide a depth and breadth of skills, completely independent and on a
voluntary basis that will be the bad(bone of the company.
Organisational structure
At present Ihis Board has Mo Trustees and recruiting is underway lo bring in an additional three trustees to the
team. We have a dedicaled Board Secretary who is eXperien￿d in both govemance and charities. He will deliver
'hit the ground running, company secretarial and corporate governance solutions. Helping the Trustees receive
assurance that the charity 15 under control and meeting legal standards. He is a specialist who works with social
housing providers but has experience of working in a variety of business sectors.
The Chief Executive also sits on this Gommittee.
A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Chief
Executive and the Senior Management Team.
The Trustees have complele overview of departments and each report provided to the Tnjslees is reviewed,
challenged and questioned.
uitimalely the Trustee Board are responsible for ensuring that the charity delivers the services specified and that
key perf0mlan￿ indicators are met.

INDEPENDENT HOUSING UK LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Induction and training of tniste8S
All trustees are already familiar with the practical work of the charity through their experiences wrthin supported
housing and care generally.
Additionally, new truslees will be invited to further enhance the experience and areas of expertise available to Ihe
charity.
All trustees are fully briefed in their role via information from the various Charity Commission publicalions
signposted through the Commission's guide 'lhe Essential Trustee" This is distributed the all new trustees along
wtth the Memorandum and Articles and the latest financial statements.
other matters
Following engagement with the Charity Commission, the trustees are continuing to assess all of our Governance
and an implementation plan is in progress and we continue to work with the Charity Commission.
The trustees of the Charity are proposing to undertake legal claims against connected persons {as defined in
section 118 of the Charities Act 2011) in relation to unauthorised benefits received by those connected persons from
the Charity. These include payments made in relation to servi￿$ provided to the Charity by individuals and
connected organisations. Legal advice is Currently being sought in relation to the quantum of the Glaims, but the
amounts which will be sought to be recovered are expected to range between £7m and £7.5m.
Auditor
The auditors, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.
The trustees, report was approved by the Board of Trustees.
Philip..Shanks
P Shanks
Trustee
Date.. J.an.3.0.,2Q26...... ...............

INDEPENDENT HOUSING UK LIMITED
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The truslees, who are also the directors of Independenl Housing UK Limited for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial slatemenls in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pradio).
Company law requires the trustees lo prepare financial statements for each financial year which give a Irue and fair
view of the slate of affairs of the charity and of the incoming resources and applicalion of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements. the truslees are required lo:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent-
state whether applicable UK Accounling Standards have been followed, subject to any material departures
disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The truslees are responsible for keeping adequale accounting records Ihal disclose with reasonable accuracy al
any time the financial position of the charity and enable them lo ensure that the financial stalements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT HOUSING UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF INDEPENDENT HOUSING UK LIMITED
Qualified opinion
We have audited the financial statements of Independent Housing UK Limited (the 'charity') for the year ended 31
March 2025 which comprise the statement of financial activtties, the balance sheet, the statement of cash flows and
notes lo the financial statements, including significanl accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicab18 in the UK and Republic of Ireland
{United Kingdom Generally Accepted Accounting Practice).
In our opinion, except foT the possible effects of the matter described in the Basis for Qualified Opinion section of
our report, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its
incoming resources and application of reSoU￿s, for the year then ended.,
have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for qualified opinion
As highlighted in the tTuslees report, the trustees of the Charity are proposing lo undertake legal claims against
connected persons las defined in section 118 of the Charities Act 20111 in relation to unauthorised benefits received
by those connected persons from the Charity. These indude payments made in relation to serVI￿S provided to the
Charity by individuals and connected organisations. Legal advice is currently being sought in relation to the
quantum of the claims, bul the amounts which will be soughl lo be recovered are expected to range between £7m
and £7.5m.
In view of the fact legal advice is on-going. we have been unable to obtain sufficient audit evidence as lo the
recoverability of the amounts potentially being claimed. The financial statements do not currently include any
adjustments for the amounts potenlially being claimed.
We conducted our audit in accordance wrth International Standards on Audrting (UK) (ISAS (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of
th8 financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for oui qualified opinion.
ConGlusions relating to going concem
In auditing the financial statements, we have concluded that Ihe trustees, use of the going con￿rn basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have nol identified any material Un￿rtainlIeS relating to events or
conditions that. individually or collectively, may cast significant doubt on the charity's abilily to continue as a 90ing
concern for a period of at least twelve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the tnjstees with respect to going concern are described in the
relevant sections of this report.
Other informatlon
The other information comprises the information included in the annual report other than the financial statements
and our auditorfs report thereon. The Irustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other infomation and we do not express any form
of assurance conclusion Ihereon. Our responsibility is to read the olher information and, in doing so. consider
whelher the other information is materially inconsistent with the financial statements or our knowledge oblained in
the course of the audit, or olhetwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement
in the financial slatemenls themselves. If, based on the work we have performed, we conclude that there is a
malerial misstalement of this other information, we are required to Teport that fact.

INDEPENDENT HOUSING UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF INDEPENDENT HOUSING UK LIMITED
Matters on which we are required to report by exception
In respect solely of the limitation on our work relating to amounts potentially being claimed against connected
persons in relation to unauthorised benefits received by those connected persons from the Charity described above..
we have not obtained all the information and explanations that we considered necessary for the purpose of
our audit- and
we were unable lo determine whether sufficient accounling records had been kept.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires us lo report to you if. in our opinion..
the information given in the financial statements is inconsistent in any material respect with the Irustees.
report., or
the financial statements are not in agreement with the accounting records.
Responsibilities of trustees
As explained more fully in the statement of truslees, responsibilities. the trustees, who are a150 the directors of the
charity for the purpose of company law, are responsible for Ihe preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such intemal control as the trustees delermine is necessary to
enable the preparation of financial statements that are free from material misstalemenl, whether due to fraud or
error. In preparing the financial slatements, the trustees are iesponsible for assessing the charity's ability to
conlinue as a going concern, disclosing, as applicable, matters related to going concern and using the going
con￿rn basis of accounting unless the trustees either intend to liquidate the charilable company or to cease
operations, or have no realistic ahernative but to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Acl and relevant regulations made or having effect thereunder.
Our objectives a￿ to obtain reasonable assurance about whether the financial statements as a whole are free from
rnaterial misstatement, whether due to fraud or error, and to Issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assuTan¢e but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material mi5Statemenl when it exists. Misstatements can arise from fraud or
error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influen
the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our audilorfs report.

INDEPENDENT HOUSING UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF INDEPENDENT HOUSING UK LIMITED
Extent to whlch the audlt was ¢on$idered capable of detecting irregularities. including fraud
Irregularities, including fraud. are instances of non-compliance wilh laws and regulations. We design procedures in
line with our responsibilities, outlined above and on the Financial Reporting Council's website. lo detect material
misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entily, its activilies, its control environment, and likely future
developments, inclLJding in relation to the legal and regulatory framework applicable and how the entity is complying
with that framework. Based on this understanding. we identrfy and assess the risks of material misstatement of the
financial statements, whether due to fraLJd or error, design and perfom audit procedures responsive to those nsks,
and oblain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes
consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations. including fraud, we designed
procedures which included..
Enquiry of management and those charged with govemance around aclual and potential litigation and
claims as well as actual, suspecled and alleged fraud..
Reviewing minutes of meetings of those charged with goveinance.,
Assessing the extenl of compliance with the laws and regulations considered to have a direct material
effect on the financial statements or the operations of the enlily through enquiry and inspection.,
Reviewing financial slalemenl disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations-
Performing audit work over the risk of management bias and override of controls. including testing of
jOUTnal entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside Ihe normal course of business and Teviewing accounting estimates for indicators of
potential bias.
Because of the inherent limitations of an audit, there Is a risk that we will nol detect all irregularilies. including those
leading io a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that Complian￿ with a law or regulation is removed from the evenls and transactions reflected
in the financial statements, as we will be less likely to become aware of instances of non4ompliance. The risk of
not detecting a material misslatement Tesulting from fraud is higher than for one resulting from etror. as fraud may
involve collusion. forgery, intentional omissions, misrepresenlations, or the override of internal control.
Other matters
As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning
the recoverability of amounts potentially being claimed against connected persons in relation to unaulhorised
benefrts received by those connected persons from the Charity.
Use of our report
This report is made solely lo the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charity's trustees
those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
Irustees as a body. for our audit work, for this report, or for the opinions we have formed.

INDEPENDENT HOUSING UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF INDEPENDENT HOUSING UK LIMITED
Jonathan Ward {Senior Statutory Auditor)
For and on behalf of Azets Audlt Services, Statutory Auditor
Chartered Accountants
Alpha House
4 Greek Street
Stockport
SK3 8AB
Azels Audit Services is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 ofthe Companies Act 2006.

INDEPENDENT HOUSING UK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Unrestricted
funds
2024
Notes
Income and endowments from:
Charitable activities
Investments
Other income
8,712,873
1,994
471.851
9,087,690
30
168,307
Total income
9,186,718
9,256,027
Expenditure on:
Charitable activities
Olher expenditure
8,573,989
673.204
7,816,088
1.275,807
11
Total expenditure
9,247.193
9,091,895
Net in¢omel{expenditurel and movement in funds
{60,475)
164,132
Reconciliation of funds:
Fund balan￿S at 1 April 2024
571.504
407,372
Fund balances at 31 March 2025
511.029
571,504
The stalemenl of financial activities includes all gains and losses recognised in the year. All income and expendilure
derive from continuing activities.
10-

INDEPENDENT HOUSING UK LIMITED
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Note$
Fixed assets
Tangible assets
13
2,804
2,140
Current assets
Debtors
Cash al bank and in hand
14
853,362
323,493
696,071
500,308
1.176.855
1.196.379
Creditors: amounts falling due within
one year
15
(668,630)
{627,015)
Net current assets
508.225
569,364
Total assets less current liabilities
511,029
571,504
The funds of the charity
Unrestricted funds
17
511,029
571,504
511.029
571.504
The company is entitled to the exemption from the audtt requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial slatements.
The members have not required the company to obtain an audit of ils financial statemenls under the requirements
ofthe Companies Act 2006, for Ihe year in question in accordance with section 476.
These financial statements have been prepared in accordance with Ihe provisions applicable to companies subject
to the small companies regime.
These financial stalements have been audited under the requirements of Section 144 of the Charirrties Act 2011.
The financial stalemenls were approved by the trustees on .Jan30,.2026
P.hi.Lip.Shanks....
P Shanks
Trustee
J£ssal.MUr￿j1....
J Murarii
Trustee
Company registration number 06187822 (England and Wales)
11

INDEPENDENT HOUSING UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating activities
Cash (absorbed byllgeneraled from
operations
22
{177,173)
35,059
Investing activities
Purchase of langible fixed assets
Investment income received
(1,636)
1,994
(2,218)
30
Net cash generated froml{u$ed in) investing
activities
358
(2.188)
Net cash generated from financing activities
Net {de¢rease)lincrease in cash and cash
equivalents
(176.815)
32,871
Cash and cash equivalents at beginning of year
500,308
467.437
Cash and cash equivalents at end of year
323.493
500,308
12

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity infonnation
Independent Housing UK Limited is a private company limited by 9uaranlee incorporated in England and
Wales. The registered Offi￿ is Suite 1, Armcon Business Park, London Road South, Poynton, Cheshire, SK12
1 LQ. Unrted Kingdom.
1.1 Accounting convention
The financial statemenls have been prepared in accordance with ihe charity's governing document. the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Stalement of Recommended
Practice applicable to charities preparing their aGcounts in accordance with Ihe Financial Reporting Slandard
applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by
FRS 102.
The financial statements are prepared in sterling, which is the fijnctional currency of the charity. Monetsry
amounts in these financial slatements are rounded lo the nearest £.
The financial statemenls have been prepared under the historical cost convention. The principal accounting
policies adopied are set out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational exislence for the foreseeable future. Thus Ihe trustees
continue to adopt the going concern basis of accounting in preparing the financial statements. As disclosed in
the trustees report, the trustees are currently working wrth the Charity Commission to implement the
instructions PTovided by the Charrty Commission.
1.3 Charitable funds
Unieslricled funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Fees from the services the charity provides are Cfedited to the Statement of Financial Activities
in the year to which they relate.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligalion lo transfer economic benefit to a
third party, it is probable thal a transfer of economic bènefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expendilure is classified by activily. The costs of each activity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activrty. Direct costs attributable to a single
aclivity are allocaled directly to that activity. Shared cosls which contribute to more Ihan one activily and
support costs which are not attributable lo a single activity are apportioned belween those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at COSt and subsequently measured at C05t or valuation, net of
depreciation and any impairment losses.
13

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
(Continued)
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases.
Fixtures and fittings
Computers
25°A on cost
25°h on cost
The gain or loss arising on the disposal of an assel is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the slatemenl of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairmenl loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairmenl
loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalenls include cash in hand, deposils held at call with banks, other short-term liquid
investments with original malurities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in cu￿ent liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sedion 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when
there is a legally enfor￿able right to sel off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle Ihe liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balan￿$, are initially measured at
transaclion price including Iransactior) costs and are subsequently carried at amortised cosl using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the presenl value of the future receipts discounted al a market rate of interest. Financial assets
dassified as receivable wilhin one year are nol amortised.
Basic financlal liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay for goods or servios that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using ihe effective interest method.
14-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting pollcles
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is rewgnised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide terfflination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due.
Critical accounting estimates and judgements
In the applicalion of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumplions are based on historical experience and other factors thal
are considered to be relevanl. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only ihal
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
There are no criticial a¢Gounting estimates and judgements.
Charitable
activities
Core rènt
Malnt•nan¢•,
management and
s•Thlc• charges
Tenants
porsonal
charges
Staffing
Incomg
Total
2025
Total
2024
2025
2025
2025
2026
Sale of seNices
8,295,133
38,749
17,347
361,644 8,712,873
9,087,690
For the year ended 31 March 2024
Core rènt Malntonan¢•.
managemènt
and servlc2
¢harg•s
Tgnants
rsonal
charg•
Staffing
In¢om•
Total
2024
Sale of servi￿$
8,607,781
49.299
17,867
412,743 9,087,690
15

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Invoslments
Tolal Unrestricted
funds
2025
2024
Bank interest received
1,994
30
Other income
Unrestricted Unrestricted
funds
funds
2025
2024
Development income
Office recharges
Corwall refurbishmenl income
459,685
2,147
10,019
33,372
39,243
95,692
471,851
168,307
Charitable activities
Charitable Charitable
Expenditure Expenditure
2025
2024
Staff costs
Travel costs
Maintenance charges
Rent and rates
Other direct costs
Legal and professional fees
Staffing costs
860,715
37.700
12,351
5,709,481
1,154,539
325,394
201,503
743.464
44,585
973
5,646,224
762,056
157,533
180,022
8,301,683 7,534.857
Share of support costs {see note 7)
Share of governance costs (see note 7)
210.737
61,569
249,992
31,239
8.573,989 7,816.088
16-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs
Support Govemance
costs
costs
2025
Support Governance
osts
costs
2024
Office costs
Sundry expenses
IT costs
Staff welfare, recruitment
and training
Bank chafges
Motor expenses
Bad debls
Depreciation
41,052
1,700
67,341
41,052
1,700
67.341
89.389
6,566
58,574
89,389
6.566
58.574
9,509
959
112
89.092
972
9,509
959
112
89.092
972
13,407
521
1.292
80,165
78
13,407
521
1,292
80,165
78
Audit fees
Accountancy. legal and
professional
25,800
25.800
21.OCrf)
21.000
35,769
35,769
10,239
10,239
210,737
61,569
272,306
249.992
31,239
281,231
Analysed be￿een
Charitable activities
210,737
61,569
272,306
249,992
31,239
281,231
Govemance costs includes payments to the auditors of £25,800 {2024- £21,000) for audit fees.
Net movement in funds
2025
2024
The nel movement in funds is staled afler chargingl(creditingl'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assels
25.800
972
21.000
78
Trustees
The Trustees did not receive any remuneration or expenses (2024 £nil) for their role as a tnjslee. However,
the following amounts were paid during the the current and previous year to currènt and former trustees
Judith Hall £nil {2024= £500) for markeling services.
Gelnn Mason £91 12024 £nil} for re-imbursed expenses.
17-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
23
22
Employment costs
2025
2024
Wages and salaries
Social security costs
Other pension costs
785,815
62.311
12,589
672,684
58.945
11,835
860,715
743,464
The role of interim CEO. Joy Malyon received £57,000 as remuneration for her role through invoices raised lo
the charity. Following her full appointment of CEO (November 2024) and becoming a full time employee. Joy
Malyon received salaried remuneration tolalling £50.000. Joy Malyon is a former Trustee.
The number of employees whose annual remuneration was more Ihan £60,000
is as follows.
2025
Number
2024
Number
£70,000- £80,000
£100.000- £110,000
11 Other
Unrestricted Unrestricted
funds
funds
2025
2024
Mainlenance charges
673,204
1,275,807
673,204
1,275,807
12 Taxatlon
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
18-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Tanglble fixed assets
Flxtur05 and
flttlngs
Computers
Totsl
Cost
At 1 April 2024
Additions
11,505
1,636
4,845
16,350
1,636
At 31 March 2025
13,141
4,845
17.986
Depreciation and Impairment
At 1 April 2024
Depreciation charged in the year
9,365
972
4.845
14,210
972
At 31 March 2025
10.337
4,845
15,182
Carrying amount
At 31 March 2025
2,804
2,804
At 31 March 2024
2,140
2,140
14 Debtors
2025
2024
Amounts falling due within one year:
Trade deblors
Other debtors
Prepayments and accrued income
312,941
4,999
535,422
278,321
9,625
408,125
853,362
696,071
15 Creditors: amounts falling due within one year
2025
2024
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17,310
358,976
147,157
145,187
13,969
277,518
71,316
264,212
668,630
627,015
16 Retirement benefft schemes
2025
2024
Deflned ¢ontribution Schemes
Charge lo profit or loss in respect of defined contribution schemes
12,589
11,835
19-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Retirement benefit schemes
(Continued)
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balancès of rental. developmenl, maintenance
and management fees received.
Incoming
resources
Resources At 31 March
expended
2025
2024
General funds
571,504
9,186,718
(9.247.193)
511,029
Previous year:
At 1 April
2023
Incoming Resources At 31 March
resources
expended
2024
General funds
407,372
9.256.027
(9,091,895)
571,504
-20-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Operating lease commitments
At the reporting end date the charity had outstanding commitments for fulure minimum lease paymenls under
non-cancellable operating leases, which fall due as follows..
2025
2024
Within one year
Between two and five years
In over five years
4,041,134
13.982,936
30,599,377
4,522,139
12,633,954
30,176,933
48,623,447
47,333,026
Lease payments recognised as an expense in the year ended 31 March 2025 were £5.709.480.51 (2024
£5,646,224).
A number of the contracted leases are subject to consuffler price index (CPI) annual increase.
The calculation of the above disclosure does not incorporate the consumer Price index {CPI) annual increase
that a number of the leases are subject to as this rate is not consistant.
An exercise performed using a consistant CPI increase rate of 3.40/0 across those leases subject to CPI
increases, it was calculated that there is potentially an additional £14.7m of additional rent lo be disclosed
acioss the lease disclosure to £63.3m. As this calculation is subjective. it has not been reflected in the above
disclosure.
The rent (income} to be received in the future will also be subject to annual reviews and increases, with the
increases being consistent with the rate of CPI, helping mitigate the higher costs.
19 Analysis of net assets between funds
Unrestfictsd
funds
2025
At 31 March 2025:
Tangible assels
Current assetsllliabilitiesl
2,804
508.225
511,029
21

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 Anatysis of net assets between funds
{Continued)
Unrestri¢tsd
funds
2024
At 31 March 2024:
Tangible assets
Current assetsl(liabilities)
2,140
569.364
571.504
22-

INDEPENDENT HOUSING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
20 Related party transactions
Paradigm Property Solullons Ltd.
IA company In whlch certain trustees and key management were directors andlor shareholders)
During the year ended 31 March 2025. service tharges of £506.453 were incurred. At 31 March 2025, the
charity was owed £25.650 being unsecured and repayable on demand.
Although all related party links ceased during the year ended 31 Mar¢h 2023. transactions continued on
contractural basi5 until termination of the agreement on 31 August 2024.
21 Analysls of changes in net funds
The chartty had no material debt during the year.
22 Cash (absorbed byllgenerated from operations
2025
2024
(Deficit)Isurplus for the year
(60.475)
164.132
Adjustments for.
Investment income recognised in statement of financial acttvities
Depreciation and impairment of tangible fixed assets
(1,994)
972
(30)
78
PAovements in worklng capital:
(Increase) in debtors
Increase in creditors
(157,291)
41,615
(152.561)
23,440
Cash {absorbed by)Igenerated from operations
{177.173)
35,059
Signature:
Email: underdoLOOI@msn.com
Signature:
Email: jessal@myinvention.co.uk
-23-