THE
homeless
REGISTERED COMPANY NUMBER: 6426197 (England and Wale5)
REGISTERED CHARITY NUMBER: 1122802
FOUNDATION
Re
ort of the Trustees and
Unaudited Financial Statements for the Year Ended 30 November 2024
for
The Homeless Foundation
Derek Young & Co Accountant5 LLP
Chartered Accountants
Estate Hous¢
Evesham Street
Redditch
Worcestershire
B97 4HP

The Homeless Foundatio
Contents of the Financial Statements
for the
ear ended 30 November 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9 to 16

The Homeless Foundation
ort of the Tru5tee5
ear ended 30 November 2024
for the
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial
statements of the charity for the year ended 30 November 2024. The trustees have adopted the provisions of Accounting and
Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019).
The trustees have complied with the duty in section 17 of the 2022 Charities Act to have regard to guidance published by the Charity
Commission.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the Homeless Foundation as Stated in our governing document is. to relieve, either individually or generally,
persons who are in conditions of need, hardship or distress on a National basis.
The key aim of The Homeless Foundation is to as51St in eradicating homelessness. We hope to achieve thi5 by focusing solely on
providing Move-on Accommodation for the homeless which helps them transition from hostels to independent living.
Public benefit
The trustees have considered the Charity Commission's guidance on public benefit and we are in no doubt that our activities in
helping the homeless provides a clear public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We provided move-on accommodation for 20 homeless people in Worcester.
Our iKozie MicroHome and our other one-bedroom flats continue to be used as move-on accommodation and are managed by one of
our charity partners. While these units are small, we believe that their design has contributed lo the occupants, ability to live
independently and move on from homelessness.
Following our successful planning appeal, work commenced on the redevelopment of our 8 bed HMO which is now being converted
into 8 self-contained flats. Funding for this will come from our own cash resources and a loan secured on our investment property.
Sadly, we had to shut down our HiHomie.org online advice website. We failed to obtain the funding or assistance necessary to update
the resources and advice which had become outdated. The savings from this will be redirected into our move-on progrdmme.
Fundraising activities
We did not engage in any fundraising activities, however, £1,483 of unsolicited donations were received via PayPal Giving and
directly from donors, most of whom wished to remain anonymous. Where possible GiftAid was claimed on all donation5.
We were delighted to receive £800 from Nisa Shopslmaking a Difference Locally. reg Charity 1123800. We are grateful to the Ni sa
Local at Woodfield Close in Redditch who nominated The Homeless Foundation for this award.
Internal and exterTh81 factors
There are various internal and external factors that are relevant to the achievement of OUT objectives. Some are within our control and
others are outside our control. The key external factors relate to the economy and the cost of residential housing. The key i nternal
factors relate to our ability to manage our properties effectively while maintaining good working relationships with oth¢r ch arities
with whom we work.
Page I

The Homeless Foundation
ort of the Trustees
ear ended 30 November 2024
for the
FINANCIAL REVIEW
The results for the year show a surplus of £27,109 prior to any property Tevaluation5.
All expenditure in the year related to charitable activities and investment management costs. No expenses or remuneration was paid to
any of the trustees.
Investment management costs were l 80/0 of gross investment income. This is a decrease of 5/0 from last year and is in-line with
expectations.
Income from charilable aclivilies has reduced by £25.502 this year due to the conversion of our 8 bedroom HMO into 5elf-contained
flats.
A loan of £250,000 has been agreed and secured against our investment property. The property's lease needed to be extended by 90
years to meet the loan requir¢m¢nts and this cost £63,000 including legal fees. The lease extension has increased the property's market
value by a similar amount.
Prineipal funding sources
The principal funding source in the year was investment income at 69010 With income from charitable activities representing 280/0 of
total income and voluntary donations representing 3 % of total income.
Reserves poliey
The trustees have reviewed the charity's needs for reserves in accordance with the guidance issued by the Charity Commission.
We reviewed our reserve policy and have reduced the amount needed to £6,000 which should cover 6 months of admin and
governance costs. Any amounts in excess of this will be allocated to the current development project. This policy will be rev iewed
p¢riodically.
Our reserves currently stand at £17,713.
Going concern
There are no material uncertainties about the charity's ability to continue as a going concern.
FUTURE PLANS
Our plans for the coming year are to ensure the completion of the conversion of our 8 bedroom HMO into self-contained flats. Once
completed the flats will be used as move-on accommodation for single homeless people and we believe that this will help the future
occupant5 to become fully responsible for all aspects of their lives and be better able to maintain tenancies going forward.
We continue to look for opportunitie5 to purchase additional homes for Move-on use and for sites suitable for iKozie MicroHomes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a lirnit¢d company, limited by guarantee, as
defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The trustees who are also directors of the company have the power to appoint new trustees and there are variou5 circumstances where
a trusteeship can be terniinated as set out in article 3.5 in the Articles of Association.
The trnstees do not currently anticipate the need to appoint any new trustees. The existing trustees possess all the skills and experience
required to run the charity at this stage in its development. Should fitrther skills be required in the future then the need for additional
trustees will be reviewed.
Organisational Structure
The trustees meet every 6 months to consider the business of the charity. In addition to thi5. there is weekly telephoT]e and email
communication between the trustees regarding day to day operational matters.
Page 2

The Homeless Foundation
ort of the Trustees
ear ended 30 November 2024
for the
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of n¢w trustees
A trustee induclion policy will be established prior to recruiting new trustees. This will involve one to one sessions on the work of the
charity and visits to our resettlement houses. The training needs of existing trustees are reviewed periodically and any training
requirements ar¢ sourced externally. During the year the trustees attended training courses on Compliance & Governance.
Risk management
The major risk5 to which the charity is exposed. as identified by the trustees, have been reviewed and systems have been established
to manage those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06426197 (England and Wal¢s)
Registered Charity number
1122802
Registered office
Estate House
144 Evesharn Street
Redditch
Worcestershire
B97 4HP
Trustees
Mrs J E O'Donnell
K P O'Donnell
Mrs V E Jenkins-Leigh
Compgny Secretary
Mrs J E O'Donnell
Independent Examiner
Derek Young & Co Accountants LLP
Chartered Accountants
Estate House
Evesham Street
Redditch
Worcestershire
B97 4HP
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME194JQ
Solicitor5
Mills & Reeve LLP
78-84 Colmore Row
Birniingham
B3 2AB
EVENTS SINCE THE END OF THE YEAR
Inforniation relating to events since the end of the year 15 given in the notes to the financial statements.
Page 3

The Homeless Foundation
ort of the Trustees
tar ended 30 November 2024
for the
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small
ompanies.
Approved by order of the board of tNstees on 14 July 2025 and signed on its behalf by..
K P O'Donnell - Trustee
Page 4

Inde
endent Examiner's Re
ort to the Trustees of
The Homeless Foundation
Independent examiner's report to the trustees of The Homeless Foundation ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2024.
Responsibilitie5 and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible
for independent examination, I report in respect of my examination of your charity's accounts as ca￿led out under Section 145 of Ihe
Charities Act 2011 ('the 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission
under Section 145(5) (b) of the 201 l Act.
Independent examiner's statement
I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me
cause to believe:
accounting records were not kept in respect of th¢ Company as required by Section 386 of the 2006 Act. or
the accounts do not accord with those records,. or
the accounts do not coinply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that
the accounts give a true and fair view which is not a matter considered as part of an independent examination. or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended
Practice for accounting and reporting by charities {applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Stephen Young Bsc
Derek Young & Co Accountants LLP
Chartered Accountants
Estate House
Evesham Street
Redditch
Worcestershire
B97 4HP
14 July 2025
Page 5

The Homeless Foundation
Statement of Financial Activities
for the
ear ended 30 November 2024
2024
Unrestricted
fund
2023
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,483
721
Charitable activities
Provision of housing for the horneless
14.282
39,784
Investment income
35.674
29,596
Total
51,439
70,101
EXPENDITURE ON
Raising funds
6,331
6,901
Charitable activities
Provision of housing for the homeles5
Homeless prevention services
15,954
845
5,315
Other
,200
1.440
Total
24,330
15,939
NET INCOME
27,109
54,162
RECONCILIATION OF FUNDS
Total funds brought forward
1,777,678
1,723,516
TOTAL FUNDS CARRIED FORWARD
1,804 787
1,777,678
The notes fom part of these financial statements
Page 6

The Homeless Foundation
Balance Sheet
30 November 2024
2024
Unrestricted
fund
2023
Total
funds
Notes
FIXED ASSETS
Tangible assets
Investments
Investment property
Social investments
12
866
1,155
13
14
643,223
142,985
580,000
838,606
1,787,074
1,419,761
CURRENT ASSETS
Debtors
Cash at bank
15
1,877
25,835
1.580
361.236
27,712
362,816
CREDITORS
Amounts falling due within one year
16
(9,999)
(4,899)
NET CURRENT ASSETS
17,713
357,917
TOTAL ASSETS LESS CURRENT LIABILITIES
,804,787
1.777.678
NET ASSETS
1,804,787
1,777,678
FUNDS
Unrestricted funds
17
1804 787
1777 678
TOTAL FUNDS
1804 787
1777 678
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended
30 November 2024.
The members have not required the company to obtsin an audit of its financial statements for the year ended 30 November 2024 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act
2006 and
preparing financial statements which give a t￿¢ and fair view of the state of affairs of the charitable company as at the end of
each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394
and 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to financial statements, 50
far as applicable to the charitable company.
(b)
The notes fonn part of these financial statements
Page 7
continued.

TheH
Foundation
BalAnce Sheet - continued
30 November 2024
These financial 5tstements have been prepared in accordance with the provisions applithle to charitable companies subjeth to the
small companies regime.
The financial ststemerjts were approved by the Board of Trustees and authorised for issue on 14 July 2025 and were signed on its
behalf by:
J E O'Donnell - Trustee
The notes forni part of these financial statements
Page 8

Th¢ Homeless Foundation
Notes to the Financial Statements
for the
ear ended 30 November 2024
STATUTORY INFORMATION
The Homeless Foundation is a private company, limited by guarantee, registered in England and Wales.
The company's registered number and registered office address can be found in the report of the trustees.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial staternents of the charitable company, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in th¢ UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the hislorical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity ha5 entitlement to th¢ funds, it is probab le
that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that
expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligat ion
can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category. Where costs cannot be directly attributed to particular h¢adings they have been
allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment
250/0 on reducing balance
Tangible fixed assets are included at cost. with items below £250 not being capitalised.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is
recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when
specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 9
continued...

The Homeless Foundation
Notes to the Financial Statements continued
for the
ear ended 30 November 2024
DONATIONS AND LEGACIES
2024
2023
Donations including gift aid
1,483
721
INVESTMENT INCOME
2024
2023
Income from properties
Deposit account interest
27.000
8.674
24,685
35,674
29,596
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Provision of housing for the homeless
Income from properties
14,282
39,784
RAISING FUIYDS
Investment management eosts
2024
2023
Rent, rates and service charge
Letting and manag¢m¢nt fees
Property repairs
2.974
3,105
252
2,178
3.208
1,515
6.901
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 8)
Direct
Costs
Totals
Provision of housing for the homele55
Homeless prevention services
4,633
785
11,321
60
15,954
845
11,381
Page 10
continued...

The Homeless Foundation
Notes to the Financial Statements - continued
for the
ear ended 30 November 2024
SUPPORT COSTS
Governance
costs
Management
Finance
Totals
Other resources expended
Provision of housing for the homeless
Homeless prevention services
1,200
8,352
1,200
1,321
60
469
2,500
60
469
2,560
9,552
12,581
Support costs, included in the above, are as follows..
2024
2023
Provision
Other
resources
expended
housing
for the
homeless
Homeless
prevention
services
Total
activities
Total
activities
Insuranc¢
Depreciation of tangible and
heritage assets
Bank charges
Accountancy
Legal fees
180
180
289
2,500
289
2,560
,200
8,352
385
60
1,440
60
1,200
,200
11,321
60
12.581
1,885
NET INCOMEI(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
Depreciation owned assets
289
385
io.
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 30 November 2024 nor for the year ended
30 November 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 30 November 2024 nor for the year ended 30 November 2023.
Page 11
continued..

The Homeless Foundation
Notes to the Financial Statements - continued
for the
ear ended 30 November 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and legacies
721
Charitable activities
Provision of housing for the homeless
39,784
Investment income
29,596
Total
70,101
EXPENDITURE ON
Raising funds
6.901
Charitable aetivities
Provision of housing for the homeless
Homele55 prevention services
5,315
2.283
Other
1,440
Total
15.939
NET INCOME
54,162
RECONCILIATION OF FUNDS
Total funds brought forward
1,723,516
TOTAL FUNDS CARRIED FORWARD
1777 678
12.
TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
COST
At l December 2023 and 30 November 2024
DEPRECIATION
At l December 2023
Charge for year
4,054
289
At 30 November 2024
4,343
NET BOOK VALUE
At 30 November 2024
866
At 30 November 2023
Page 12
continued...

The Homeless Foundation
Notes to the Financial Statements continued
for the
ear ended 30 November 2024
13.
INVESTMENT PROPERTY
FAIR VALUE
At l December 2023
Additions
580,000
63,223
At 30 Nov¢mb¢r 2024
643,223
NET BOOK VALUE
At 30 November 2024
643,223
At 30 November 2023
580 000
Fair value at 30 November 2024 is represented by..
Valuation in 2012
Valuation in 2015
Valuation in 2021
Cost
150,000
70,000
60,000
363.223
643,223
Investment propety was valued on an open market basis by the trustees on 30 November 2024.
14.
SOCIAL INVESTMENTS
Property
for
charitable
use
MARKET VALUE
At l December 2023
Additions
838.606
304 379
At 30 November 2024
1.142985
NET BOOK VALUE
At 30 November 2024
1 142,985
At 30 November 2023
838,606
Programme related investments were valued on an open market basis by the trustees on 30 November 2024.
Page 13
continued...

The Homeless Foundation
Notes to the Financial Statements - continued
for the
ear ended 30 November 2024
14.
SOCIAL INVESTMENTS - continued
Cost or valuation at 30 November 2024 is represented by..
Propety
for
charitable
use
Valuation in 2012
Valuation in 2013
Valuation in 2017
Valuation in 2018
Valuation in 2019
Valuation in 2021
Cost
82.209
(15.815)
27.199
(2,800)
(9,268)
6,720
1,054 740
1,142,985
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtors
Prepayments and accrued income
992
885
992
588
877
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditors
Accruals and deferred income
2.414
2,199
9,999
Rental income tolalling £300 (2023.. £300) has been deferred to next year, being the period the incom¢ relates to.
17.
MOVEMENT IN FUNDS
Net
movement
in fund5
At
1.12.23
At
30.11.24
Unrestri¢¢¢d funds
General fund
E,777.678
27,109
1.804.787
TOTAL FUNDS
1777 678
1,804,787
Page 14
continued...

The Homeless Foundation
Notes to the Financial Statements - continued
for the
ear ended 30 November 2024
17.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
51,439
(24,330)
27,109
TOTAL FUNDS
51,439
24.330)
27,109
Comparatives for movement in funds
Net
movement
in funds
At
1.12.22
At
30.11.23
Unrestricted funds
General fund
,723,516
54.162
1.777,678
TOTAL FUNDS
1.723.516
54,162
1777 678
Comparative net movement in funds, included in the above are as follows-
Incoming
resources
Resources
expended
Movement
in funds
UnTe5tricted fund5
General fund
70,101
(15,939)
54,162
TOTAL FUNDS
A cu￿ent year 12 months and prior year 12 months combined position is as follows:
Net
movement
in fund5
At
1.12.22
At
30.11.24
UJ]restricted funds
General fund
1,723,516
81,271
1,804.787
TOTAL FUNDS
723 516
1804 787
Page 15
continued..

The Homeless Foundatio
Notes to the Financial Statements continued
for the
ear ended 30 November 2024
17.
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
121,540
(40,269)
81.271
TOTAL FUNDS
121.540
40,269)
81,271
18.
CAPITAL COMMITMENTS
In May 2024. the charity entered into a contract with D&S Construction for the conversion of its 8-bedroorn HMO propety
into self-contained flats. The total value of the contract is £501,841. As at the year end, £304,000 had been paid, and the
charity remain5 contractually committed to further expenditure of £197,841 in respect of this project. There are also related
professional fees in the region of £1 0,000 still to pay.
19.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2024.
20.
POST BALANCE SHEET EVENTS
After the balance sheet date, the company received a loan totalling £250,000 secured aoainst its investment property, which
had been contractually agreed prior to the year end.
Page 16