,F'ir:st L'nLlltf IIoiiSI ng r 11 First Choice Housing Unaudited Financial Statement and Trustees, Report 31 January 2026 Charity Registratlon Number 1139863 Table of Contents Reference and administrative information Trustees, Annual Report........... ......................................................... Financial review.......... Independent Examiner's Report...................... .............. 13 Statement of Flnancial Actlvities.......,...................... .14 Statement of Financlal Position...................... .15 Notes to the financial statements. .16 First Choice Housing 1 Reference and admlnlstratlve Informatlon Trustees Mrs. Ruth Akinyi Deacons Miss. S D Adams Mlss. N Orloro Mr. Nelson Mandela (Appolnted, 29 May 2025) Ms. Christine Obiero (Appointed, 12 January 2026) Ms. Stacey Adams (Resigned, 1 December 2025) Chalr of Trustees Ruth Akinyi Deacon Registered office and operation address 11-12 Commercial Road Swindon SN15NF Bankers Barclays Bank PIC Leicester LE87 2BB Independent Examlner Phllip O Ochama (ACCA) 226 Stsmford Road Dagenham Essex RM9 4EL Flrst Choice Housing 2 Trustees, report 31 January 2026 Trustees, Annual Report The trustees present their report and the unaudited financ6al statements of the charity for the year ended 31" January 2026. Governance and management structure The charity is governed by the trust deed dated 8th December 2010 as amended on 21 st March 2019 as amended by resolution dated 28th August 2019. The constltution requlres that there shall be a minlmum of 3 trustees but there is no maximum. New trustees must be appointed by a resolution passed by a slmple majority at a meetlng of the existing trustees. Charity commlssion guldance for charlty trustees Is used as a gulde for trustees In performing their dulles. We use resources and training material previously delivered by Voluntary Action Swindon on managlng a charlty to guide in managing the day-to-day activities of the charity. All trustees attend an introduction to First Choice Induction day at the office. A presentation on the work of the charity, a visit to a few properties to meet our clients, and a tralning programme is put in place including; The role of a trustee Charlty governance Charity finances Safeguarding The trustees must hold at least four meetings each year. The chafir of trustees leads all meetlngs. The daY-t￿daY activities of the charity are managed by the dlrector of cllent services and the director of strategy and operatlons, The Charity has at least three trustees at any glven time. The chair of trustees leads all meetings. Board of Trustees provide strategic leadership, scrutlny, and assurance Staffing Structure Support Workers: Provlde weekly keywork, in-house support, and multi-agency coordination. Senior Support Worker: Oversees case management, safeguarding, and quality First Choice Housing 3 Trustees, report 31 January 2026 assurance. Housing Officers/Compliance officer: Ensures property standards, repalrs, compliance, and resident onboardlng. Programmes and Impact manager: Leads all cllent engagement activltles, manages fundraising, marketing and communications. Dlrectors: Leads service delivery, partnerships, reporting, and performance Monitorlng. The charity works with the Local Authority to implement its Homelessness Strategy and to meet its duties. Support Workers liaise with various external partners for cllent support for example local mental health teams for referrals and consultations. We receive referrals from various organisations like Seetec, Probation, and refugee support organisatlons. We work In partnership with The Willows for counselling services to our clients. The dlversity of need amongst those seeking to access our servlces means Its Increasingly important for us to engage with community and faith leaders, teams withln the local authority outside of housing, and to understand the communlties and areas within whlch our clients live. For this reason, we're engaged in thlngs Ilke the Community Connection Forum and the Swindon Borough of Sanctuary Forum. What this means in practice is that we are building relatlonships across the borough and this has led to thlngs Ilke becomlng referral partners into the local food bank, beginning to institutionally refer to the local authority's hardship fund, and engaglng soclal workers or Livewell team members in better supportlng Individual clients, Objectlves and actlvltles The objects of the organisation are for the benefit of the public: the relief of poverty, hardship and distress among homeless persons. people with mental illness andlor asylum seekers In particular but not exclusively to those living in the Swindon borough, by provision of, or assistance wlth the provlsion of accommodation, support and advice. We provide fully fumished shared accommodation withln local communities. These comprise of 3-7-bedroom houses that enable us to promote stability, safety, and positive relationships. At the start of their journey with First Choice Housing, clients sign a License Agreement clearly outlinlng expectations that help to maintain a safe and secure environment. Staff cary out regular property checks and maintenance to ensure quality accommodation. Each resident receives a structured weekly meeting with their Support Worker. In these meetings, clients are supported with goal-setting, personal development plans, tenancy sustainment skills including health and hygiene, budgeting, bills, tenants and neighbour relatlons, Other support includes health and wellbeing check-ins, GP registration, support with appointments, benefits, and documentation. The meetings also aid with early identification of risks or safeguarding concerns. Flrst Choice Housing 4 Trustees, report 31 January 2026 Staff deliver an enhanced level of support to clients during their first 4-6 weeks to ensure understanding of house routs'nes, dynamics and expectations. Regular interaction with clients within their accommodatlon helps to not only build positive relationships between cllents and stsff but also amongst housemates. House meetings support clients to establish routines around cleaning, cooking, and improved self-care. The charity employs a cleaner for end of tenancy clearance and getting rooms ready for new clients and contracts cleaning and gardening companies to carry out weekly cleaning of common areas In properties. A compliance worker does routine safety checks in properties in line with fire safety, hygiene and HMO compliance. Routine house inspections are carried out by staff to ensure the safety and wellbeing of clients in their accommodation. Skills and personal Independence support and advlce are dellvered through one-to-one and group sessions. This includes information on cooklng and nutritlon, budgetlng and financlal Ilteracy, healthy relationships and boundaries, and access to services. We refer clients to external partners for specialist support. For example, CGL Swindon for drug and alcohol support, The Willows for mental health services, food banks and local colleges and other ESOL providers for clients who need to learn English or access courses. Where clients do not qualify to register for free courses, the Charity has provided support wlth Introduction to basic English language through contracted providers to expand local capacity, This is intended to support clients with communication skills to access services. For residents who move on to Independent accommodatlon, the charity offers support with planning for the move including budgeting for a deposit, house search and appllcation for grants to support the move. The charity provides reference letters as well as support with community Integration through planned visits to the area to locate essential amenities. The Trustees meet on a quarterly basis to review service performance and strategic priorities. Decisions are guided by the charity objects and supported by the Trust deed. All decisions around housing and support services are made in the best interest of the client and value for money is considered. The charity supports anyone above the age of 18 who is experiencing or at risk of homelessness. Most of the referrals we receive are of individuals who have experienced socio- economic barriers that prevent them from accessing essential services and meeting basic needs to rebulld thelr Ilves. By providing safe and secure houslng, cllents are able to begin the joumey towards stability and recovery. Access to supported accommodation reduces the risks associated with homelessness, including illness, injury and premature death. By offering a stable home environment, the charity enables individuals to meet their basic needs and engage more effectively with health, soclal care and community services. This stability also reduces avofidable pressure on emergency services, Including hospitals, by preventlng the escalation of health and safety risks Ilnked to rough sleeplng or Insecure Ilvlng arrangements. Alongside housing, the charity promotes mental health and wellbeing through personalised one-to-one support. Indivlduals experiencing homelessness may face complex trauma, poor mental health, and social isolation. The charity's support model helps people build confidence, self-worth and resilience, enabling them to manage their mental health more effectively. By fosterlng posltlve relationshlps: encouraglng healthy routines, and connecting Indivlduals wlth First Choice Housing 5 Trustees, report 31 January 2026 specialist services where needed, the charity contributes to improved emotional wellbeing and long-temi recovery. Through Its work wlth refugees and asylum seekers, the charlty supports individuals to integrate into society, reduce isolation and feel part of the local community. This contributes towards community cohesion where those new to the local community understand the culture and way of life. By identifying volunteering opportunities and links with partner organisations for work placements, the charity supports those experlenclng homelessness to develop skills and confidence as a process of moving towards employment. This support is intended to reduce welfare dependency and encourage financial independence. Our fundraising policy sets out the procedures trustees have adopted to ensure that all donations received by the charity are lawful, ethical, and aligned with the charity's objects. It provides a clear framework for Identifying and verifying donors, assessing any conditions attached to donations, and documenting decisions. The policy supports compliance with: Charity Commlssion guidance (including Know Your Donor expectations) The Fundraising Regulator's Code of Fundraising Practice Relevant UK legislation, including sanctions and anti-money-laundering requirements The charlty will only accept donations that support and further its charitable purposes. housing for those experlencing homelessness, advice and support towards Independence, Donations must be from legitimate, verlfiable sources and do not compromise the charity's independence, reputation, or integrity nor impose conditions that conflict wlth the charity's objects or operational capacity The trustees retain ultimate responsibility for decisions relating to donor due diligence and acceptance or refusal of donations. The charity has not made any social Investments this year. However, should any be made, it aims to adopt a mission aligned approach, using the resources to support housing and services that improve the Ilves of people wlth support needs. Thls has been included In our 2026-29 development plan. Any borrowing or shares invested will be assessed according to their contribution to our charltable purposes, sustaonability and risk profile. Our pollcy states that declsions will be made transparently and In Ilne wllh regulatory guldance. Trustees must ensure that any loans, property acquisitions, or partnership arrang8m8nts deliver measurable public benefit, safeguard the charity's assets, and maintaln long-term resilience, while avoiding undue risk or activities inconsistent with our values. All future investments will b8 guided by our governlng document, th8 trust deed, and related pollcles such as the Investment pollcy, loans pollcy, safeguarding, conflict of Interest and our criteria for service provision. First Choice Housing 6 Trustees, report 31 January 2026 This year, our volunteers have made a significant contribution to our supported living services. We engaged eight volunteers, three of whom supported us on a regular basis, providing valuable help with cleaning, minor repairs, gardening, office adminlstration, and leading focus group sessions. Thelr involvement has strengthened our abllity to offer safe and secure houslng and to maintain living envlronment that supports the mental wellbelng of our clients. By particlpating Sn group actlvlties, volunteers have also helped reduce isolation among residents. Thelr practical support particularly with minor repairs and decoration has enabled us to reduce operational costs, while their efforts in community engagement have helped raise awareness of the charity's work. The services offered by volunteers to the charity are currently based on volunteer availability and on an ad hoc basis making it difficult to quantify the value overall to the charlty, We are working to streamline this. Achlevements and performance This financial year we have provided accommodation to 142 clients, 86 of whom moved into an FCH property on or after 1 st February 2025. By our estimation, these numbers are driven firstly by an addltion of 41 bed spaces to our houslng capaclty. Secondly, the vast majority of those who newly sought support from us were refugees. We have historically seen that thls group of dients get into employment much quicker and as a result have lower average lengths of stay in service. We have delivered a total of 53,387 nights of shelter to the 142 people who were resident in an FCH propety at some point in 2025-26 with an average length of stay of 376 nights. In absolute terms, this average length of stay Is almost half that reported at the end of 2023124 but, for several reasons including the almost doubling of the number of bed spaces available, it is too early to determlne whether thls is a reversal of trends. We have recorded a total of 39 people entering education, employment or training. 29 out of 39 entered employment while the remaining 10 either entered training, began volunteering or started English courses at the local college. Our key obJe¢tlves were: Expansion of services Staff recruitment and training Staff appraisal and investing in staff well-being Use of CRM to measure impact and to evaluate services Supporting clients towards independence and reintegration into society Dlversification of income i.e. Improved fundraising strategy Quallty assurance through use of data and suitabillty of our accommodation First Cholce Housing 7 Trustees, report 31 January 2026 Multi agency collaboration For the first time sinc8 the Charity was established, and because of external grant funding, we have been able to pilot dellvery of counselllng services and ESOL sessions for clients. Both pilots were launched in response to significant need within our client group in the context of increasingly limited capacity within local services, Our counselling services were launched in May 2025 when waiting times for NHS talking therapies had hit an average of 10 months. These services were delivered by a couns811or contracted through Willows counselling services. In total 4 clients attended 8 total of 22 out of 48 sessions on offer to them (l.e. each service user was offered up to 12 sessions). Thirteen dients were offered the opportunity to engage in basic English language support sesslons onllne wlth a contracted tutor. Four cllents attended at least 9 out of 16 sesslons and a further 2 attended at least 6. To support effective engagement with these sessions we were able to lend laptops to 5 partlclpants. These were refurblshed laptops obtained as part of the additlonal support we are receiving through the Lloyds Foundation following a successful grant award. We are incredibly proud to have been able to launch a transition programme In the autumn of 2025 where clients can continue to access services including housing for up to 3 months after entering full-time employment. This was to address the challenge many clients faced in finding accommodation in the private rental sector due to affordability constraints on starting work. Within these three months they would be liable for rent (i.e. they would be ineligible for houslng benefit) at a reduced rate relative to current rates of statutory funding. As part of the move on support package, we have created and provlde a move on passport to support entry into the PRS, are primed to eng8ge with St Martins in the Field Vicars Relief fund for move-on grants to individuals and are building relationships with landlords and agencies who can support that entry into the PRS. All the above is only possible with increased income diversification. 2024-25 saw FCH secure its biggest grant yet and its first multi-year grant to date. This reflects a concerted effort to dedicate more time and resources to fundraising Including Investment In training for the Programmes and Impact Manager, obtaining the aid of a consultant to develop cases for support, and a refresh of the organisation's website. At present, we are working with a grant application success rate of approximately 300/0. We Intend to Increase to at least 60 % over the coming three years of the new strategy. Ultimately, what we are keen to ensure Is that we can drlve Investment into servlce development while we also add to local capacity to deliver discretionary crisislhardship support. This year we've seen significant organisational focus in collaborating with our CRM provider to deslgn the platfomi to allow us to better record programme delivery and to then measure impact. For example, our CRM Is now able to record whlch cllents are enrolled on the transltlon programme and what the impact may be e.g. does it enable Increased savings. Alongside CRM design, we continue to place an emphasis on data Integrlty and staff training to ensure consistent recording of data for Improved reporting. While the Charity's income consists largely of statutory funding, we've seen a significant pivot and growth In capaclty to obtaln grant funding and donations from Indlviduals and institutlons. Flrst Choice Houslng Trustees, report 31 January 2026 In July 2025, a Programmes and Impact manager was recruited with responsibility for developing a fundraising strategy and pipeline for the Charity. Successful grant applications withln the year totalled £35,000. We are confident that the Charity's capacity to attract increasing levels of funding from trusts and foundations is growing. This is evident in positive feedback received following bids that have included government grants for whlch we successfully applied but where there was simply not enough funding for an award to FCH. We also establlshed First Cholce Houslng Limited, a separately operated social enterprise to generate Income for communlty beneflt. The enterprise donates Its proceeds to the charity while malntalning full independence. During the year, thls arrangement contributed £330,000 towards the charity. By the end of the year, we had In place a fundraising pollcy relatlng to donor due diligence, verification and gift acceptance with plans to engage extemal support to further develop our fundraising policles and procedures in the comlng financial year. Our investment actlvity this year focused on securing long-term leases on supported-llving properties, ensuring stable and high-quality accommodation for people experiencing homelessness. Thls approach has Increased the number of rooms available within our community and reduced our exposure to rising rental costs associated with annual tenancy agreements. We also invested in the development of our workforce, with two staff members undertaking the Level 3 Certificate in Homelessness Services and Prevention. Strengthening staff skills has directly improved tenancy sustainment, as clients receive more effectlve support to build Independence, engage with mental-health and other specialist services, and maintain their housing. Overall, our Investments have performed strongly against our objectives by expanding capaclty, enhanclng service quality, and improving outcomes for those we serve. Financlal revlew The trustees have established a policy to maintain unrestricted cash reserves of not less than 3 months regular operatlng 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 provlde 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 servlce users. The main rlsk facing the charity is lack of funding or grants. This continues to hinder our ability to recruit hlghly skilled personnel with experience in working with the vulnerable with dlverse needs. We therefore rely on other organisations to provide these servlces or volunteers to carry out some roles. At the 31 January 2026 the charity's unrestricted cash reserves amounted to £123,679 (2025 £108,988). First Choice Housing 9 Trustees, report 31 January 2026 Our Reserve Pollcy and why we hold the reserve The charity's financial position at the 31 January 2026 does not meet the current reserves policy however, a signiflcant Improvement from the previous year. The reserves are sufficlent for core operatlng expenses for 3 months. The charity has a positlve working relationship with Swindon Borough Council who continue to refer clients. As we diversify our services as planned and Increase our capaclty for housing, the charity will be able to generate and maintain the required flnancial reserves. To hold reserves In case of drop in incom6 and for scheduled and unforeseen expenses. The reserves can be used to; Pay house deposits, rent, utility bills and staff wages. Expansion of services as per our charity objects. Cater for expenses incurred in charity operation8 including meeting statutory requirements. This year for example, reserves played a significant role in enabling the charity to expand its services by rentlng 7 other properties at a time when the demand slgnlflcantly rose due to high number of refugees who had recently been granted refugee status required to leave Home Office accommodation. The charity's princlpal source of income continues to be Swindon Borough Councll for the delivery of supported living services for individuals experiencing homelessness. This funding enables the charlty to source, fumish, and maintaln accommodatlon, and to meet essential costs including uts'lities, staffing, and cllent support provision. During the year, we further strengthened our financial position through successful fundraising efforts. We secured a total of £35,000 in grants from charitable foundations and trusts, supporting staffing, dient support activities, and office operational costs. In addition, we received £2,000 in individual donations, reflecting continued community support for our work. We also benefited from contributions from social enterprise to cover core costs. These comblned Income streams have enhanced our capacity to deliver safe, stable housing and holistic support to the individuals we serve. The charity adopts a cautious and responsible approach to investment, ensuring that all financial decislons support and further its charitable objects of provlding supported living, houslng for people experiencing homelessness, and the delivery of advice and support services. Investments must bo low-riak, 6eGure, and allgned wlth the chariiy's mlssion, avoidlng any activity that could conflict with its values or jeopardise its financial stability. Trustees recognise their legal duty to protect the charity's assets and therefore ensure that due diligence is undertaken before any Investment is made. Where necessary, the trustees will seek professional financial advice to inform decision-making and to ensure that investment activities are prudent and compliant. All decisions and processes are minuted. First Choice Houslng 10 Trustees, report 31 January 2026 All investment decisions are guided by Charity Commission guidance and relevant regulatory frameworks. Trustees remain collectively responsible for monitoring Investment performance, assessing risks, and ensuring that the charity's funds are managed In a way that safeguards resources while supporting long-term sustainability and the delivery of charitable purposes. The key risks facing the charity include uncertainty In the Political and Policy Environment. Sudden reductions In government funding or changes to commissloning arrangements could directly impact our abllity to sustain places, staffing levels, or specialist support provision. As public sentlmenl becomes more polarised, organisatlons provldlng support to refugees like us are facing decreased external support. Negative narratlves could affect community perception, stakeholder confidence, or local partner relationships. Local Authority Budget Pressures, cuts to housing-related and support services, and increase demand on our servlces could mean that the charlty delivers a broader spectrum of support wlth fewer resources. This is of particular concern as clients increasingly present with acute complex trauma and mental health challenges. Antlcipated amendments to supported housing regulation and commissioning priorities have the potential to create operational challenges particularly with regards to gaining government contracts. We continue to face fundraising difficulties. Competition for grants intensifies as more charities chase fewer pots of money. Cost of living pressures equally contlnue to influence individual giving, Supported housing requires a blend of trauma-informed practice, safeguarding expertise, mental health awareness, and regulatory understandlng-skills that are In short supply. The pay often expected by specialist workers cannot compete with NHS roles or private care providers making recruitment and retention of skilled staff difficult. General funds at 31 January 2026 are £133,679 (2025- £108,988), of which free reserves were £133,679 (2025 - £108,988). Free reserves are the general funds held by the charity less the net book value of tanglble fixed assets. The trustees consider this level of free reserves to be adequate but not excessive given the ongoing investment in fundralsing for 2026 and the stage of development of the charity. Restricted funds at 31 January 2026 were £10,000 (2025 - NIL). Risk management It is the charity's policy to have a risk management framework which: Seeks to identify, assess and manage the key risks; Supports First Cholce Plousing strateglc plan; Asslgns clear responslbllltles for risk management; and Monitors and tracks progress on managlng risk. The charlty malntalns a rlsk reglster whlch Is revlewed regularly by the Senior Management Team and the board of trustees. During the year under review, risks to which the charity could be First Choice Housing 11 Trustees, report 31 January 2026 exposed were idents'fied and actlon planned to mlnimise such risks. The major risks identified during the year related to securing sustainable income. FCH'S strategic approach takes into account these risks and includes plans for ensuring that diverse income streams are developed and there is an appropriate balance be￿een donor acquisition, retention and attrition. There are also governance and control risks to which the charity is exposed, and it is important to ensure that these are mitigated by a robust approach to maintaining a high level of skill and engagement on the trustee board. The addition of specialist advisors to the trustees reinforces our abllity to manage govemance and control risks. Statement of trustees, responslbilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and United Kingdom Accounts'ng 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 whlch give a true and fair view of the state of affairs of the charity and of the incoming resources and appllcatfon of resources, of the charity for that period. In preparing these financial statements, the trustees are requlred to: select 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 golng concern basis unless it is inappropriate to presume that the charlty wlll continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position 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. Slgned and 8Uthorised for Issue by order of the Board of Trustees. Mrs. Ruth Akinyi Deacon Chalr Dated; IE1512DIÉ First Choice Housing 12 Independent examlner's report 31 January 2026 Independent Examinerfs Report to the Trustees of Flrst Cholce Houslng I report to the trustees on my examlnation of the financial statements of First Choice Housing ('th8 charity,) for the year ended 31 January 2026. Responslbllltles and basls of report As the trustees of the charity, you are responslble for the preparation of the financial statements In accordance wlth the requirements of the Charltles Act 2011 ('the Act,). I report in respect of my examination of the charity's financial ststements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable directions glven by the Charity Commlsslon under section 145(5)(b) of the Act. Independent examlner's statement Since the charity's gross income 8xceeded £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 examinatlon because l am a member of the Association of Chartered Certified Accountants of the UK (ACCA), which is one of the Ilsted bodies. I have completed my examlnation. I conflrm that no material matters have come to my attention In connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the financial statements do not accord wlth 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 Charitles (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters In connection with the examlnation to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Phlllp O Ochama Independent Examlner Flrst Choice Housing 13 Statement of financial activities (including income and expendlture account) Year ended 31 January 2026 Statement of Flnanclal Activities Unre8trlcted funds Unrestricted funds Restrlctod 2026 2025 Not• Income and andowment Donaiions and legacies 10,000 395.512 405.512 Charltable 8Ctivltie8 506,595 506,595 719,168 719.168 Investments income 560 150 Total Income 10,000 902,667 912,667 719,317 Expendlture Raising funds 7&8 2,175 2,175 Charilable activities 7&8 885,801 885,801 658,970 658.970 Total expendlture 887.976 887,976 658,970 658,970 Net Income and movemgnt In fund$ 10,000 14,691 24,691 60,348 60,348 Total funds BIForward 108,988 108,988 48.640 Total fund8 CIForward 123,679 133,679 108.988 108,988 All recognlsed gains and losses are included in the above statement of financlal activities. The net movement in funds for the year arise from the charity's continuing operations during the above two years. Flrst Choice Housing 14 Statement of Flnanclal Posltion 31 January 2026 Statement of Financial Position 2026 2025 Note Non . Currant Assets Tangible A688ts 13 9,960 11,838 Current Assets Debtors 14 53,544 90,051 Other debtor8 Cash 8nd Bank Ba18nces 46,350 38,901 174,666 128,952 Current Llabllltleg Credltors: amounts falling due within 1 year 15 50,947 31,803 Net Current Assots 123,719 123,719 97,150 97,150 Total ass•t8 less current Ilabllltles 133,679 108,988 Net Assets 133 679 108,988 Funds of the charlty Restrlcled fvnds 10,000 Unrastrictad fund8 123,679 108,988 Total Charlty funds 17 133 679 108,988 Approved by the trustees and slgned on thelr behalf by; Trustee Approved on: First Cholce Housing Charity Registration Number: 1139863 (England and Wales) First Choice Housing 15 Notes to the flnanclal statements 31 January 2026 Notes to the flnanclal statements General Infonnatlon The charity Is a publlc benefit entity and a reglstered charlty in England and Wales and is unincorporated. The address of the prlnclpal office is Suite 9-10, Focal Point, 27-35 Fleet Street, Swindon, SN11 RO. Statement of compllance 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 thelr accounts In accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng pollcles Basls of preparation The financlal statements have been prepared on the historlcal cost basis, as modified by the revaluatlon of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterllng, which Is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng 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. Incomlng resources All incoming resources are included In the statement of financial actlvlties when entitlement has passed to the charity. it is probable 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 partlcular 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 recognlsed when recelpt Is probable and entitlement is establlshed. income from donated goods is measured at the falr 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 facllities and services are recognised In the accounts when received If the value can be rellably measured. No amounts are included for the contribution of general volunteers. First Choice Housing 16 Notes to the flnanclal statements 31 January 2026 Income from contracts for the supply of services is recognised with the dellvery of the contracted service. This is classified as unrestricted funds unless there is a contractual requlrement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a Ilabillty 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: expendlture on raising funds Includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expendature on charitable activities includes all costs incurred by a charity In undertaking activftles that further its charitsble aims for the benefit of its beneficlaries. including those support costs and costs relating to the govemance 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 expendlture 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. Tanglble 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 depreclation 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 impaiment that has previously been recognised as expenditure withln the statement of financial actlvlties. A decrease In the carrying amount of an asset as a result of revaluation, Is recognised In other recognised galns and losses, except to which it offsets any previous revaluation gain, in whlch case the loss Is shown within other recognlsed gains and losses on the statement of financial activities, Depreciation Depreclation is calculated so as to write off the cost or valuation of an asset. less its residual value. over the Useful economlc Ilfe of that asset as follows: Office equipment 25 % on a straight line basis Motor Vehicle 20 % on a straight Ilne basis First Choice Housing 17 Notes to the financlal statements 31 January 2026 Impalrnient of flxed 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 carrylng value exceeds the recoverable amount, the asset is impaired accordingly. Prior Impairments are also revlewed for possible reversal at each reportlng date. For the purposes of impaimient 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 testlng of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generatlng units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilitles of the charity are assigned to those units. Flnanclal Instruments A financial asset or a financial liability Is recognised only when the charity becomes a party to the contractual provlslons of the instrument. Basic flnancial Instruments are initially recognised at the amount recelvable or payable Inclucjing any related transaction costs. Current assets and current liabilities 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 falr value with changes On falr value recognlsed in income and expenditure. All other such investments are subsequenuy 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 fvture payments discounted al a market rate of interest for a slmllar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. 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 actlvities In which the initial gain wa8 recognised. For all equlty instruments regardless of significance, and other financial assets that are indlvidually significant, these are assessed indlvidually for impairment. Other financial assets are either assessed indlvidually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in carrying amount of the financial asset that exceeds what the carrying amount would have been had the First Cholce Housing 18 Notes to the flnanclal statements 31 January 2026 impairment not previously been recognised. Deflned contrlbution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service Is provlded. Prepald contrlbutlons are recognlsed as an asset to the extent that the prepayment wlll 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, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense In the period In whlch It arises. Donatlons and Legacies Restricted Unrestricted Funds Funds Total Funds Reslricted Unrestncied Funds Funds Total Funds 2026 2025 Donatlon8 Donations 10,000.00 395,512.00 Charltable Activlties Restricted Unrestricted Funds Funds Total Fund8 Restncted Unrestricted Fund8 Funds Total Funds 2026 2025 Housing Benefits Contracts 506,595 5oe 595 719,168 Investment Incom• Restricted Unrestricted Funds Funds Total Funds Restrlcted Unrestricted Funds Fund6 Total Funds 2026 2025 Interest Recelvable 560 150 Expondltur• on ch8rltabl• actlvitle8 by fund typ• Restrlcted Unrestricted Fund8 Funds Total Restricted Un￿stricted Funds Funds Funds Total Funds 2026 2025 Flrst Choice Houslng 19 Notes to the flnanclal statements 31 January 2026 Supporting the homeles8 Fundraislng costs 839.844 839,844 608,190 608,190 2,175 2,175 Support costs 45,957 45,957 887,976 887,976 658 970 658,970 Expendlture on charitable actlvltles by actlvlty type Dlrect activities Support costs Totsi Funds Total Funds 2026 2025 Supporting the horneless 839,844 608,190 Govemance costs 887 976 658.970 Not Incom• Net Income is stated after charging 2026 2025 Depreclation 3,652 10 Independent •xamln•rs fe0• 2026 2025 Fees payable to independent examSn6r 11 Staff costs 2026 2025 W8ges and salaries 189,038 130,616 Employers, natlonal Insurance 32,438 24,613 Employers pension costs 9,087 4,471 230 563 159.700 2026 202S Support workers Malntenance workers The average head count of employees during the year was S (2025: 3). The average number of full-time First Choice Housing 20 Notes to the flnanclal statements 31 January 2026 equivalent employees during the year is analysed as above: Two employees received employee benefits of more than £60,000 during the year (2025: 2) 12. Trustee remuneratlon and expenses The trustees did not receive any emoluments from the charity for their work as trustees during the current or prior period. No trustees were reimbursed for travel and subsistence expenses in their role as trustees during the year (2025 - £900). 13 Tanglble flxed assets Total Total 2026 2025 Cost M I V Equlpment 1st February 9,675 5.833 15,508 2,944 Additions 1,774 12.564 31st January 9.675 7,607 Deproclatlon 1s1 February charge for the period 1.290 2,380 3,670 1,343 3,652 31st January 3,225 4.097 Net book value 31st January 6,450 3,510 14 Debtor• 2026 2025 Prepayments and other accrued income 69,001 Other debtors Other Current As•et• 2026 2025 Accrued Income 46,350 15 Credltorn: amounts falllng due wlthln one year 2026 2025 Flrst Choice Housing 21 Notes to the flnanclal statements 31 January 2026 Accruals and deferred Income 3,500 10,413 Social securlty and other tax liabilltles 28,194 4,825 Pen8ion liabilities 9,121 5,194 Credit card Ilabilities 10,132 11,371 Other loans 50,947 16. Pon8ion8 and other postArntlromant b•n8fit8 Defined contrlbution plans The amount recognised in Income or expenditure as an expense in relation to defined contribution plans was £9,087 (2025: £4,471). 17 Analys18 of charltable funds Total Tot31 2026 2025 Gen•ral funds Restricted Unrestricted 1st February 108,988 108,988 48,640 Income 10,000 902,667 912,667 719,317 Expenditu 887,976 887,976 658,970 318t January 10.000 123,679 133 679 108 988 18 Analysls of net a8Sets between funds Total 2026 Total 2025 A88ets Re8tricted un￿strICted Tangible flxed assets 9,960 9,960 11.838 Current assets 174,666 174,666 128,953 Credltors less than 1 y08r 50,947 31,803 Total 133,679 133,679 108,988 19. Rolatod partles The charity had no related party transactions during the year under revlew First Choice Housing 22 Notes to the flnanclal statements 31 January 2026 20 Dotall•d stat•m•nt of flnanclal actlvltles Re8trlcted Unrestrlcted Total Total Incom• and endowments 2026 2025 Donatlons and legacles Donatlons 10,000.00 395.512.00 405,512.00 Charltable actlvltle8 Housing benefits 506,594.65 506,594.65 719 167.74 Inv•stm•nt In¢omo Interest recelvable 560.27 560.27 149.51 Total Income Expendlture Exp•ndlturo on charltablo actlvltle8 Wages and salarles 189,037.77 189,037,77 130,616.09 Employerfs NIC 32,438.37 32,438.37 24,613.39 Employerfs Penslon 9,087.17 9,087.17 4,470.84 Rent 331,695.97 331,695.97 253,469.24 Rates and water 42,774.79 42,774.79 25,103.97 Light and heatsng 70,764.61 70,764.61 52,510.29 Staff training and development 3,261.40 3,261.40 Motor Vehlcle expen8es 718.19 718.19 Travel and Subsistence 3,801.44 3,801.44 Fundraising costs 2,175.00 2,175.00 Repairs and maintenance 86,324.78 86,324.78 75,454.03 Insurance 2,913.26 2,913.26 2,334.83 Other establlshment costs 77,720.18 77,720.18 41,952,15 Legal and professlonal fees Telephone 8nd communlcatlons 4,198.80 4,198.80 8,650.00 3,268.63 3,268.63 2,233.80 Olh&r offleA) Cogts 22,OQ2.81 22,092.81 26,519.42 Depreclatlon Other Interest pay8ble and simllar charges 3,651.94 3,651.94 2,327.00 440.22 440.22 1,475.43 Governance costs (1,441.50) (1,441.50) 6.565.39 Webslte and ICT costs 3.051.84 3,051.84 673.72 Flrst Choice Housing 23 Notes to the financial statements 31 January 2026 Total expendlturn 887.975.67 887,975.67 658,969.59 Net Income 10,000.00 14,691,25 24 691.25 60,347.66 15 Post balance sheet events To the best of our knowtedge, there are no post balance sheet events Ihal requlre dlsclostjre or amendment. First Choice Housing 24 Independent examlner's report 31 January 2026 Independent Examiner's Report to the Trustees of First Cholce Housing I report to the trustees on my examination of the financial statements of First Choice Housing ('the charlty,) for the year ended 31 January 2026. Responsibllltles and basls of report As the trustees 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 8xamination I have followed all the applicable directions glven by the Charlty Commlsslon under sectlon 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 examination because l am a member of the Association of Chartered Certified Accountants of the UK (ACCA), whlch Is one of the Ilsted bodies. I have comp18ted my examlnatlon. I confirm that no material matters have come to my attention in connection with the examination givlng me cause to believe that In any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financ6al 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 matter considered as part of an independent exam6nation. 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. Phlllp O Ochama Independent Examlner First Choice Housing 13 Statement of financlal activities (Includlng income and expendlture account) Year ended 31 January 2026 Statement of Financial Activities Unrestrlcted funds Re8trlcted Unrestricted funds 2026 2025 Noto Income and 6ndowm8nt Donations and legacles 10,000 395.512 405,512 Charitable a¢tivOtses 506,595 506,595 719,168 719.168 Investrnenls income 560 560 150 Total Incom• 10,000 902,667 912,667 719,317 Expenditure Ralslng funds 7&8 2,175 2,175 Charitable activities 7&8 885,801 885,801 658,970 658,970 Total expendlturo 887,976 887,976 658,970 658,970 Net Income and movement In funds 10,000 14,691 24,691 60,348 60,348 Total funds BIForw8rd 108,988 108,988 48,640 48,640 Total fund8 CIForward 10,000 123,679 133,679 108,988 108,988 All recognlsed gains and losses are Included in the above statement of financial activities. The net movement in funds for the year arise from the charity's continuing operations during the above two years. First Choice Housing 14 Statement of Financial Positlon 31 January 2026 Statement of Flnanclal Positlon 2026 2025 Note Non . Current Assets Tanglble Assets 13 9,960 11,838 Current As88ts D8btorB 14 53,544 90,051 Other debtors Cash and Bank Balances 46,350 38.901 174,666 Curront Llabllltle8 128,952 Credltors: amounts falling due within 1 year N•t Curr•nt Assets 15 50,947 31,803 123,719 123,719 97,150 97,150 Total a8sets1683 current Ilabillties 133,679 108,988 Net Assets 133 679 108,988 Funds of the charlty Restrlcle funds 10,000 Unrestricted funds 123,679 Total Charlty funds 108,988 17 133 679 108 988 Approved by the trustees and signed on their behalf by: Trustee Approved on: First Choice Housing Charity Reglstration Number: 1139863 (England and Wales) First Choice Housing 15 Notes to the flnanclal statements 31 January 2026 Notes to the flnanclal statements General Infonnatlon The charity Is a public benefit entity and a reglstered charity in England and Wales and is unincorporated. The address of the princlpal office is Suite 9-10, Focal Polnt, 27-35 Fleet Street, Swindon, SN1 1 RO. Statement of compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard appllcable 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) (Charlties SORP (FRS 102)) and the Charities Act 2011. Accountlng pollcles Basls of preparation The financlal statements have been prepared on the hlstorlcal cost basis, as modified by the revaluatlon of certaln financial assets and liabillties and Investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, whlch is the functlonal currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to fvrther 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