CHARITY REGISTRATION NUMBER.. 1139863
First Choice Housing
Unaudited Financial Statements
31 January 2025
irst Cfioice Yfousing
Providing shelter plus
Philip O Ochama
CharteredAccountant

Contents
Contents............................................................
Charity Information:..........................................
Trustees, Annual Report................................... .....................................................................................
Independent Examiner's Report to the Trustees of First Choice Housing............................................
Statement of Financial Activities...........................................................................................................
Statement of Financial Position....................... .................................................................... ................
Notes to the Financial Statements..........................................................................................,..............
li

Charity Information:
References.and administration
Registered charity name:
First Choice Housing
Charity registered number:
1139863
Principal Office:
Suite 9- 10
Focal Point
27- 35 Fleet Street
Swindon, SNI IRQ
The Trustees:
Mrs. Ruth Deacon
Miss. S D Adams
Miss. N Orioro
Accountant:
Philip O Ochama
FCCA
Flat. 20, The Fanshawe
Gale Street, Dagenham.
Essex RM9 4UT
li

Trustees, Annual Report
The trustees present their report and the unaudited financial statements of the charity for the year
ended 31 January 2025.
Governance and management structure
th
The charity, is governed by the trust deed dated 8 December 2010 as amended on 21 March 2019
th
as amended by resolution dated 28 August 2019.
The constitution requires that there shall be a minimum of 3 trustees but there is no maximum. New
trustees must be appointed by a resolution passed by a SF,mple majority at a meeting of the existing
trustees.
st
The trustees must hold at least four meetings each year. The chair of trustees leads all meetings. The
day-to-day activities of the charity are managed by the director of client services and the director of
strategy and operations.
Objectives and activities
The objects of the organisation are for the benefit of the public: the relief of poverty, hardship and
distress am,ong homeless persons, people with mental illness and/or asylum seekers in particular but
not exclusively those living in the Swindon borough, by provision of, or assistance with the provision
of accommodation, support and advice.
First Choice Housing (FCH) provides housing to individuals aged 18+ in supported living
accommodation alongside education, training, and employment (ETE) skills support services and
signpostin&, to mental health services. Most clients are referred to us by Swindon Borough Council's
Homeless Prevention Team. Other referral partners include The Probation Office, Seetec Plus, The
Harbour Project and Swindon Night Shelter. We also receive self and public referrals through visits to
our offices and our website.
At the point of referral clients may be rough sleeping, sofa, surfing, or facing imminent eviction. Once
referred to us, FCH staff complete needs and risk assessments. We use a points-based system to
determine our ability to meet the iindividual's needs. Should the referral be accepted, the client signs
a license agreement and is allocated a room in a shared house in a preferred location in Swindon where
possible and assigned a support worker.
Support workers work with clients to create support plans outlining needs and support strategies. Each
client will hgve 3 hours support every week to help them make and track progress towards their goals.
In some cases, we work alongside third-party organisations to support our clients depending on their
needs for example mental health, alcohol and drugs addiction and accessing resources to enable
clients to g¢t back to work or to acquire permanent housing.
We source 3-8~bedroom properties from local landlords for our work with those experiencing
homelessn¢ss.

First Choice Housing
Trustees, Annual Report
st
Year ended 31 January 2025
All funds received are used to facilitate housing for the homeless. That includes renting houses from
private landlords, bringing them to the required HMO standards and the responsibility for utilities. We
ensure that each client has all the basics they require to settle into the accommodation upon being
accepted as a tenant. The rooms are fully furnished to include bed, mattress and bedding, wardrobe,
bedside drawer, and chest of drawers. The kitchen is fully ¢quipped, washing machine, fridge freezer,
cooker and oven, microwave, kettle, toaster, utensils, and cutlery. The charity carries out repairs,
refurbishment, and routine maintenance of the properties.
To ensure the guidance on public service is adhered to, trustees met 5 times to discuss and review our
services as per the trust deed. We met with representatives from the Housing Team Swindon Borough
Council to discuss how we could work together to improve the services that we provide and to ensure
that we support our clients towards moving on to long term independent living.
Trustees ensured that the relevant Laws are adhered to for example working with the vulnerable, data
protection, health and safety, tax, and employment.
Trustees have carried out and reviewed a risk assessment to ensure that risks to the service users,
employees, and the public have been identified and weighted. Mitigation is in place to minimise risk
of harm and to make sure any harm that might arise is a minor consequence of carrying out the
purpose.
Staff training has been a key component of staff induction and continued professional development.
During the year, two volunteers have supported the charity routinely with office administrative duties
for example one-to~one meetings with clients to review support plans during staff shortages.
One of our landlords has supported with minor repairs of properties. This has reduced costs incurred
for this purpose.
Three service users have volunteered to clean communal areas, gardening and clearing of waste when
we have staff shortages due to illnesses or leave.
One service user has supported the charity with painting of rooms at end of tenancy in preparation for
occupation by new clients.
We also ensaged our volunteers in surveys of their experiences when volunteering with us. Volunteers
have supported in trialling the functionalities of our new website.
Achievements and performance
Fifty-six beds were made available to provide short term accommodation to those experiencing
homelessn¢ss and to support clients to meet their individual goals. We had 84 referrals for housing in
the financiol year. We were able to provide accommodation to 57% of the refeffrals due to limited
capacity.

First Choice Housing
Trustees, Annual Report
st
Year ended 31 January 2025
Our services keep clients safe in their accommodation therefore limiting opportunistic illnesses that
homeless ppople face when out on the streets. Through surveys, clients have indicated reduced stress
and anxiety, due to having a safe place to leave. The average length of stay in our properties in the last
financial year was 245 days.
Of all clienl goals set in the financial year, 18.40/0 have been completed and 65.7% in progress. Some
goals have been abandoned when clients move on or are no longer relevant to the client.
Having an address is a stepping stone towards rebuilding self-esteem and confidence and integrating
back to life in the community. Clients can access vital services requiring a proof of address like applying
for a bank account, education & training, and employment. 43.4% of our clients were engaged in either
part-time work, education, training, or volunteering during the last financlal year.
27 clients moved on, with 18 being planned end of tenancy, and 9 unplanned evittions. Of the planned
end of tenancy, 25.9% were reunited with family, 370A moved on to own accommodation through
private rental market after gaining employment and 7.4/0/0 acquired sheltered accommodation.
We employed two full time and one part time staff and offered various contracts to local traders
ranging from professionals to maintenance contractors therefore offering employment opportunities
to the community, These range from handy men to skilled professionals like plumbers, electricians,
and carpenters.
All requirements around landlord certification are met to ensure safety of clients in the
accommodation.
We have a business plan that is reviewed quarterly for sustainability of the charity's work. This ensures
that our service users continue to receive much needed services without disruption.
Systems are in place for accounting purposes. We collaborate with other housing providers to discuss
client needs and for referrals. We also collaborate with orgqnisations supporting individuals to get back
to work.
How the impact is measured
I. VCSE strength checker used and findings used to complete risk assessment for the charity, review of
policies, developments of a detailed business plan. All these have been done to ensure sustainability
of our work, safety, and protection of the rights of both clients and employees.
2. We use the Homelessness Outcomes Starto track client progress over time. For effective monitoring
and evaluation, we record all information relevant to a client's goals following any planned or
unplanned interaction.
Clients and support workers will have in-depth reviews using the tool every six months from the day
they join FCH and then annually.
We work on, monitor, and measure the following:
a) Capacity to live independently by:

First Choice Housing
Trustees, Annual Report
Year ended 31" January 2025
-making own food and maintaining hygiene standards in rpoms and common areas. This is especially
important for those who have been sleeping rough for a sustained period.
-sustained college/training attendance and completion of ¢ourses.
-maintaining volunteering or paid work for at least 3 months
-Attendance of support meetings, probation services appointments, GPS, or counselling appointments.
-Ability to manage finances independently.
b) The number of clients who access services provided by agencies collaborating with us like probation
services, Change Live Grow (CGL), IPSUM and Mind.
-Number of clients who manage their drug and alcohol misuse for a consistent period.
-Number of clients who do not re-offend during their stay with us.
3. Impact is also measured from testimonials.
"l am thrilled to have landed my dream job as a Control System Engineer, thanks to the amazing
support from First Choice Housing. Their comprehensive services, including resume optimization,
interview p.reparation, and job search strategies, were in$trumental in my job search journey. The
team's expertise and personalized approach made me feel confident and well-prepared. I
wholeheartedly recommend First Choice Housing to anyone looking for professional and effective
career assistance., Mohammed
Financial review
The trustees have established a policy to maintain unrestricted cash reserves of not less than 3 months
regular operating expenses to include rent for houses occupied by its clients.
The charity's principal source of funds is its contract with Swindon Borough Council, to provide
supported living for the homeless, is the charity's principal source of funds. The resources are used to
source, fund, maintain the accommodation including furnishing, to cater for utility bills, staffing and to
cater for the support needed for various complex needs of some of our service users.
The main risk facing the charity is lack of funding or grants. This continues to hinder our ability to
recruit highly skilled personnel with experience in working wlth the vulnerable with diverse needs. We
therefore rely on other organisations to provide these services or volunteers to carry out some roles.
At the 31 January 2025 the charity's unrestricted cash reserves amounted to £108,988 (2024
£48,792).
The charity's financial position at the 31 January 2025 does not meet the current reserves policy
however, a significant improvement from the previous year. The reserves are sufficient for core
operating expenses for 3 months. The charity has a positive working relationship with Swindon
Borough Council who continue to refer clients. As we diversify our services as planned and increase

First Choice Housing
Trustees, Annual Report
st
Year ended 31 January 2025
our capacity for housing, the charity will be able to generate and maintain the requlred financial
reserves.
Trustees, responsibilities statement
The trustees are responsible for preparing the trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial
statements for each year which give a true and fair view of the state of affairs of the charity and of the
incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are requlred to:
selert suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP.
make judgments and accounting estimates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficlent to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
Posltion of the charity and enable them to ensure that the financial statements comply with the
Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of
the Trust Deed. 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.
The trustees, annual report was approved on ..
trustees by:
Ll.Dcl..
. and signed on behalf of the board of
Mrs R Deacon
Trustee

First Choice Housing
Independent Examiner's Report to the Trustees of First Choroe Housing
Year ended 31st January 2025
Independept Examiner's Report to the Trustees of First Choice Housing
I report to the trustees on my examination of the financial statements of First Choice Housing ('the
charity,) for the year ended 31 January 2025.
Responsibilities and basis of report
As the trust¢es of the charity, you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the charity's financial statements carried out under section
145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions
given by the Charity Commission under section 145(5)(b) of the Act.
Independent examlner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed
in section 145 of the 2011 Act. I confirm that l am qualified to undertake the exarnination because I
am a member of the Association of Chartered Certified Accountants of the UK (ACCA), which is one of
the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accountijng records were not kept in respect of the charity as required by section 130 of the
2. the financial statements do not accord with those records. or
3. the financial statements do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than
any requirement that the accounts give a 'true and fair view which is not a ma:tter considered as
part of ain independent examination.
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 lo enable a proper understanding of the
accounts to be reached.
Philip O Ochama
Independent Examiner
Flat. 20, The Fanshaw
Gales Street
Dagenham, Fssex.
RM9 4UT.

First Choice Housing
Statement of Financial Activities.
Year ended 31" January 2025
Statemenl of Financial Activities
Unrestricted
2025
2024
Income gnd endowment
Donation￿ and
legacies
Note
237
Charitable activities
719,168
372,318
Investments income
150
30
Total
Income
719,317
372,585
Expenditure
Charitable activities
7&8.
658,970
354,721
Total exp,enditure
658,970
354,721
Net income and movement in funds
60,348
17,864
Total funds
B/Forward
48,640
30,776
Total funds
C/Forward
108,988
48,640
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.

First Choice Housing
Statement of Financial Position
As at 31st January 2025
Statemeni of Financial Position
2025
2024
Note
Non ~ Current Assets
Tangible Assets
13
11,838
1,601
Current Assets
Debtors
14
90,051
58,344
Cash and Bank Balances
38,901
13,604
128,952
71,948
Current Liabilities
Creditors. amounts falling due within I
year
15
31,803
24,909
Net Curront Assets
97,150
97,150 47,039
47,,039
Total assets less current liabilities
108,988
48,640
Net Assets
108,988
48,640
Funds of the charity
Unrestricted funds
Total Charity funds
108,988
108,988
48,640
48,640
17
These financial. stateme?ts were approved by the board of trustees and authorised for issue on
, and are signed on behalf of the board by
Miss. S D A,dams

First Choice Housing
Notes to the Financial Statements
5t
Year ended 31 January 2025
Notes to the Financial Statements
General information
The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. The address of the principal office is Suite 9-10, Focal Point, 27-35 Fleet Street,
Swindon, SNI IRO.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Charities Act
2011.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair value
through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's
purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment
funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity. it is probabl'e that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are applied
to particular categories of income:
income from donations or grants is recognised when there is evidence of, entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.

Flrst Choice Housing
Notes to the Financial Statements
st
Year ended 31 January 2025
income from donated goods is measured at the fair value of the goods unless this is impractical
to measure reliably• in which case the value is derived from the cost to the donor or the estimated
resale value. Donated facilities and services are recognised in the accounts when received if the value
can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual requirement for
it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as
restricted.
Resources ¢xpended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is classified under headings of the statement of financial activities
to which it relates:
exp.enditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities, and the sale of donated goods.
exp.enditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit o,f its beneficiaries, including those support
costs and costs relating to the governance of the charity apportioned to charitable., activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of In asset as a result of revaluation, is recognised in other recognised gains and losses, except
to which it offsets any previous revaluation gain, in which case the loss is shown within other
recognised gains and losses on the statement of financial activities.
Depreciation
10

First Choice Housing
Notes to the, Financial Statements
Year ended 31st January 2025
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Office equipment 25¥0 on a straight line basis
Motor Vehicle 20% on a straight line basis
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior Impairments are also reviewed for
possible rev¢rsal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of
an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to
which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that
includes the asset and generates cash inflows that largely independent of the cash inflows from other
assets or groups of assets.
For impairment testing of goodwill,, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from the
synergies of the combination, irrespective of whether other assets or liabilities of the charity are
assigned to those units.
Financial in$truments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financlgl instruments are initially recognised at the amount receivable or payable including any
related transaction costs.
Current assets and current liabilitie5 are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably,
the investment is subsequently measured at fair value with changes in fair value recognised in income
and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment
for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a
market rate, in which case the asset is measured at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in
the statemeni t of financial activities, with the exception of hedging instruments in a designated hedging
relationship.,
11

Flrst Choice Housing
Notes to the, Financial Statements
st
Year ended 31 January 2025
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial activities in
which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either assessed
individually pr grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediatelyi to the extent that the reversal does not result
in a carrying, amount of the financial asset that exceeds what the carrying amount would have been
had the impgirment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the
related service is provided. Prepaid contributions are recognised as an asset to the extent that the
prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting
date In which the employees render the related service, Ihe liability is measured on a discounted
present value basis. The unwinding of the discount is recognised as an expense in the period in which
it arises.
Donations and legacies
Unrestricted Total
Funds
Funds
2025
Unrestricted
Funds
Total
Funds
2024
Donations
Donations
237.00
Chariltable activities
Unrestricted Total
Funds
Funds
2025
Unrestricted
Funds
Total
Funds
2024
Housing Benefits
Contracts
719,168
372,318
72 318
Investment income
12

First Choice Houslng
Notes to the: Financial Statements
st
Year ended 31 January 2025
Unrestricted
Funds
Unrestricted
Funds
Total
Funds
2024
Total Funds
2025
Interest Receivable
150
30
Expendlture on charitable actlvlties by fund type
Unrestricted
Fwnds
Unrestricted
Funds
Total
Funds
2024
Total Funds
2025
Supporting the homeless
608,190
608,190
332,930
332,930
Support costs
50,780
50,780
21,791
21791
658,970
658,970
354,721
354,721
Expenditure on charitable activities by activity type
Direct
Support
activities
costs
Total
Funds
2025
Total Funds
2024
Supporting the homeless
608,190
608 190
332,930
Governance costs
50 780
50 780
21791
608,190
50,780
658,970
354,721
Net income
Net income is stated after charging
2025
2024
Depreciation
2,327
736
10.
Independent examination fees
13

First Choice Houslng
Notes to the Financial Statements
st
Year ended 31 January 2025
2025
2024
Fees payable to independent examiner
3,500
3,900
11.
Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
Wages and salaries
130,616
90,571
Employers, national insurance
24,613
6,558
Employers pension costs
4,471
1,124
159,700
98,253
The average head count of employees during the year was 3 (2024: 3). The average number of full-
time equivalent employees during the year is analysed as follows:
2025
2024
Directors/Support workers
Maintenance workers
Two employees received employee benefits of more than £60,000 durin8 the year (2024: Nil).
12.
Tru@tee remuneration and expenses
The following individuals served as trustees during the year Miss. Nicole Orioro, Miss. Stacey D Adams
and Mrs. Ruth Deacon and they ea¢h received re-imburseable expenses of £300 each (a total of £900)
towards cost5 of board meetings attendance costs.
13.
Tangible fixed assets
Total
2025
Total
2024
Cost
M / V Equipmeryt
14

First Choice Housing
Notes to the Financial Statements
st
Year ended 31 January 2025
1st February
2,944
2,944
1,607
Additions
9,675
2,889
12,564
1,337
31st January
9,675
5,833
15,508
2,944
Depreciation
1st February
1,343
1,343
607
charge for the period
1,290
1,037
2,327
736
31st January
1,290
2,380
3,670
1,343
Net book value
31st January
8,385
3,453
11,838
1,601
14.
Debtors
2025
2024
Prepayments and other accrued income
69,001
45,254
Other debtors
21,050
13,090
90,051
58.344
15.
Creditors: amounts falling due within one year
2025
2024
Accruals and deferred income
10,413
8,484
Social security and other tax liabilities
4,825
4,845
Pension liabilities
5,194
Credit card liabilities
11,371
2,413
Other loans
9,167
31,803
24,909
15

First Choice Housing
Notes to the Financial Statements
Year ended 31st January 2025
16.
Pensions and other post.retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £4,471 (2024: £1,124).
17.
Analysis of charitable funds
Unrestricted funds
Total
2025
Total
2024
General funds
Restricted Unrestricted
1st February
48,640
48,640
30,776
Income
719,317
719,317
372,585
Expenditure
658,970
658,970
354,721
31st January
108,988
108,988
48,640
18.
Analysis of net assets between funds
Total
2025
Total
2024
Assets
kestricted Unrestricted
Tangible fixed assets
11,838
11,838
1,601
Current assets
128,952
128,952
71,948
Creditors less than l year
31,803
31,803
24,909
Total
108,988
108,988
48,640
19. Related parties
Mrs Winfred Oluoch, an employee responsible for the day to day running of the charity, made a loan
to the charity on 14 November 2023 of £10,000. This loan was repayable over a period of 24 months
by monthly instalments and interest is being charged at a rate of 9.1 %. During this financial period the
loan was fully repaid with no interest charged to the charity.
16

Flrst Choice Housing
Notes to the Financial Statements
Year ended 31st January 2025
20. Detailed statement of financial activities
Income an4 endowments
Donations and legacies
Total
2025
Total
2024
Donations
237.00
Charitable activities
Housing benefits
719,167.74
372 318.00
Investment income
Interest receivable
149.51
30.00
Total inc0￿e
Expendlture
Expenditure on charitable actlvitles
Wages and salaries
130,616.09
90,571.00
Employer's NIC
24,613.39
6,558.00
Employer's Pension
4,470.84
1,124.00
Rent
253,469.24
157,732.00
Rates and water
25,103.97
13,831.00
Light and heating
52,510.29
15,543.00
Repairs and maintenance
75,454.03
46,497.00
Insurance
2,334.83
1,457.00
Other establishment costs
41,952.15
10,458.00
Legal and p.rofessional fees
8,650.00
5,528.00
Telephone and communications
2,233.80
1,298.00
Other office costs
26,519.42
1,536.00
17

First Choice Housing
Notes to the Financial Statements
5t
Year ended 31 January 2025
Depreciation
2,327.00
736,00
Other interest payable and similar charges
1,475.43
589.00
Sundry exp.enses
6,565.39
562.00
Website costs
673.72
701.00
Total expenditure
658,969.59
354,721.00
Net income
60,347.66
17,864.00
18