FUSION HOUSING KIRKLEES LIMITED (a company limited by guaralltee) FINANCIAL STATEMENTS 31 MARCH 2025 CONTENTS Page Charity Reference and Administrative Details Trustees, Annual Rq)ort Auditors, report 7-10 Statement of financial activity 11-12 Balance sheet 13 Statement of cash flows 14 Notes to the financial staternents 15-26 Thefollowingpage does notform part of thefinancial statements Detailed statement of financial activities 27-28 Company registration number: 08158320 Registered chariity number: 1151483
FUSION HOUSING KIRKLEES LIMITED CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 Charity name: Fusion Housing Kirklees Limited Cbarity number.. 1151483 Company number". 08158320 Trustees: S Ahmed E Cannell S Gill T Hood M Hurdley (Appointed 06 November 2024) (Resigned 25 March 2025) (Appointed 29 July 2025) (Appointed 20 May 2025) (Appointed 29 April 2025) (Resigned 12 August 2025) S Kaye C Lorenzelli C A Pattison (Resigned 06 November 2024) K I Saleemi (Appointed 06 November 2024) N Sims (Appointed 06 November 2024) N L Spencer {Appointed 28 January 2025) M Squires (Resigned 24 September 2025) M VangTove Principal and registered office: Pearl House, Jobn William Street, Huddersfiel(L HDI IBA Auditors: Mlheawill & Sudworth Limited, Chartered Accountants, 35 Westgate, Huddersfield, HD I IPA Principal bankers.. National Westminster BanK 8 Market Place, Huddersfield, HDI 2AN
FUSION HOUSING KIRKLEES LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees who are also directors of the charity for the pUoseS of the Companies Act 2006, present their report and the audited financiaI ststement of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of th¢ Statement of Reconunended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been ptepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 201 l and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities as updated by Bulletin l in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. The Directors of the Chitable con]pany (the charity) are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. As part of the Statement of ReconJnended Practice {SORP) regulations a Trustees Annual Report is required together with the financial audit and it is therefore logical and efficient to embed its business, finance, strategic pEans and reviews into tbis report, ORJECTIVES AND ACTIVITIES Objeetives and aim5 The Charities objectives are the prevention or relief of poverty for public benefit in Kirklees, Calderdale. Wakefield and Barnsley. This includes supporting individuals who are homeless, at risk of becoming homeless, or in housing need. Support is delivered through advice. advocacy, training, and assistance in areas such as housing, health, learning, and employment. Fubion Housing is committed to reducing homelessness and food poverty by tackling the root causes of housing insecurity and financial hardship. The organisation empoweis individuals and families to overcome barriers that limit their opportunities and to build more stable, independent lives. Our mission is to empower people to make infomied life choices and to actively tske part in shaping a positive future for themselves and their communities. Charitable Activities Fusion Housing is a long-established organisation delivering a range of integrated services designed to prevent homelessness and alleviate poverty. These services include: Housing Advice Supported and Emergency accommodation Training activities Food Bank We work primarily across the Kirklees, Calderdale, and Wakefield areas, supporting some of the most vulnerable members of these communities. Through practical support and early intervention, we help individuals to secure and sustain suitable, affordable accommodation, develop life skills, and achieve long-term stability. Significant activities Fusion Housing Kirklees delivers targeted housing support, advice. and guidance to residents of Kirklees, Calderdale and Wakefield. This includes addressing immediate housing crises as well as providing longer-terni support to promote housing stability and independence.
FUSION HOUSING KIRKLEES LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) Public Benefit and Eligibility Criteria The Trustees confirn] that they have had due regard to the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its current and fiJtyre activities. All services are delivered in line with the Charity's objects and are intended to benefit those in financial hardship or at risk of homelessness, without discrimination. ACHIEVEMENTS AND PERFORMANCE Charilable activities In year achievementslperformallce: Housing Advice The advice service provides, for public benefit, a confidential and not for profit advice service for individuals age 16 and over Én the KiTklees and Wakefield areas. We provide specialist Iegal advice on housing and related matters including: Rent and Mortgaoe arrears - financial problems relating to housing, help with court applications to prevent eviction and claims for benefit to help pay housing costs. Notices to leave the home and threats of eviction Harassment and illegal eviction Representation at Court hearings Homelessness prevention, applying for help and Challenging Local Authority decision Welfare Benefit claims, decisions and overpayments Finding a place to live- advice about options in Kirklees and beyond HOMES Our HOMES service provides supported and emergency accommodation for single people and families who are homeless and require additional support to enable them to maintain accommodation and live independently. Accommodation is available in the Kirklees, Wakefield and Calderdale areas and consists of both self-contained and shared living options. Residents can stay for up to 2 years whilst they explore longer terni options and receive the help they need to address issues they may have which put them at risk of homelessness. Whilst having the overall aim of addressing homelessness and housing insecurity, we also support residents into work and education, enable access to other services including those addressing mental health and substance misuse, and support people into ¢ducation, training and employment. Assistance is also gÈven in improving financial resilience in the fonn of budgeting support, income maximisation and support with benefits, or access to our Money Management leaming provision. Food and More Service The Food and More Service runs our Food BaTJk provision in Dewsbury, which includes wrap around advice and guidance to increase financial resilience and reduce dependency on emergency food provision. The service also assisted with Furniture and Home Starter Packs via the Household Fund. Initial Contact Service Our Initial Contact Service acts as the first point of contact for all other Fusion Services and provides initial advice and support on housing and related issues across our areas of operation. Fundraising activities Fusion Housing Kirklees funds are sought through grants and contracts along with other fundraising activities
FUSION HOUSING KIRKLEES LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) FINANCIAL REVIEW The results for the year and financial position of the company are shown in the financial statements. Year End Posltion Our annual financial statements for the yeaT ending 31" March 2025 reflect the ongoing challenges and ditTiculties FusÈon Housing had faced during the previous two financial years. During the financial year to 31" March 2025 we have again focused intensively on improving our financial position through Cost management, liability management and incorne management with a commitment to bring the business back to a better financial standing. During the financial year our largest income generating service, HOME4s, continued a journey of re-structure and diversification of the portfolio of supported accommodation properties and bringing on additional properties into our Emergency Accommodation provision. This is a service that is much needed in all areas we serve and gives residents a more appropriate temporary housing option which is a stepping stone to breaking the cycle of homelessness. We are continuing with the restrncture progranune which will ensure our services are ready for the new Supported Housing licensing scheme in 2027. Strategic Organisation Plan Here's what we'll be doing to reduce the financial impact and strengthen our organisation in the following financial year from April 2025. During the financial y¢ar 25126 we will: Continue to improve our financial position through further cost management, liability management and income generation. Continue to m¢asure all of our accommodation against the Supported Housing Act ready for licensing. Continue on our journey of restructuring services to meet the changing needs of our Organisation and client group in line with our external funding. Creating efficiencies through better use of technology and data collection. Embark on an active fund-raising programme and will embed this into our ongoing organisation planning. Developing a new marketing strategy and fundraising plan. Embedded in our strategy is the passion and expertise of our staff and trustees to enable us to fulfil our vision, with the aim of benefiting the communities we serve. Summary We aTe pleased with the progress made back towards financial stability over the past year, but recognise that there is still rnore to do. We have reduced our liabilities and created a robust income strategy. Reserves Policy Fusion Housing Kirklees will seek to ensure a minimuEn lcvcl of reserves of at least 50/0 of annual operating costs and will havc flexibility at each accounting year for a reduction or incr¢ase of funds. Going concern The trustees have considered the impact of the previous financial year and other changes that have had on the charity during this year and are likely to have in the future. Whilst acknowledging that operations could still be affected in the short-tenn at least, the Trustees believe they have put suitablc measures in place to ensure that the Charity will be able to continue with its activities going forward. The Trustees therefore believe that the preparation of the financial statements on the going concern basis is appropriate. Future Plans Fusion Housing Kirklees will seek to diversify and attract funds into the core organisation activities in order to secure the provision of quality, person centred services to those that need them. We will continue to develop and monitor our provision so that it consistently meets the standards required by the Accreditations we hold such as Matrix and th¢ Specialist Quality Mark.
FUSION HOUSING KIRKLEES LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) FINANCIAL REVIEW (continued) Key areas for future development identified are. To continue on our journey to diversify our accommodation provision is ready for licensing with a focus on quality and meeting the needs of the communities we serve. To develop our Food and More Service in North Kirklees and provide services which help reduce the reliance on Food Banks. To explore further funding options for our Learning and Employment Support activities To further expand our Housing Advice service to meet local demand. Our bi-annual Staff Conference structure will continue to play a role in these developments and to identify other areas. STRUCTURE, GOVERNANCE AND MANAGEMEIYT Governing Document The Company is controlled by its governing document, a deed of trust, and conStiteS a limited company, limited by guarantee, as defined by the Companies Act 2006. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Recruitment and appointment of new trustees Recruitment of Trustees is done through advertisement in local press or through local agency bulletins and by nomination through existing Members when a position becomes available. New Trustees are appointed by Election where individuals are nominated (following their application) and are then elected onto the Board of Trnstees by the organisation's members at an Annual General Meeting (AGM). Organisational structure The Trustees of the organisation hold responsibility to the organisation for decisÈon making and delegate core functions to the organisations C.E.O and Management Team. Induction and training of new trustees New trustees to the Fusion Housing Kirldees Board will go through an induction process and skills audit to ascertain any training needs. All trustees will have access to the organisations training programme in relation to the services provided. Related parties There are no relatcd parties. and no transactions with tmstees as detcrmined by the Memorandum and Articles of Association. Direetors The Directors during the year were: S AhTncd E Cannell S Kay¢ C Lorenzelli C A Pattison K I Saleemi N Sims N L Spencer M Squires M Vangrove M Hurdley
HOUSING KIRKLEES LIMITED TRUSTEES, AINThUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) STRUCTURE, GOVERNANCE AND MAJ¥AGEMENT (Continued) Auditors Wheawill & Sudworth Limited were appointed as auditor for the year and they will be proposed for re-appointment at the Annual General Meeting. Trustees, Responsibilities Statement The Trustees (who are also the directors of Fusion Housing Kirklees Limited for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the tStee8 to prepare financial statements for each financial year. Under company law th¢ trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS L02). make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followe<L subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the clwitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Chitable company and enable them to ensure that the financial statements comply with tEL¢ Cotnpanies ALt 2006. They are algo responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit infornyation of which the charitable company's auditors are unaware: and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infonnation and to establish that the auditors are aware of that infonnation. The Trustees are responsible for the maintenance and integrity of the charity and financial inforniation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemknation of financial statements may differ from legislation in other jurisdictions. ON BEHALF OF THE BOARD Approved by the board on I l November 2025 and signed on its behalf by M Vangrove Chair
FUSION HOUSING KIRKLEES LIMITED INDEPEIYDENT AUDITOR?S RPoRT FOR THE YEAR ENDED 31 IVIARCH 2025 Independent Auditor's Report to the trustees of Fusion Housing Kirklees Limited We have audited the financial statements of Fusion Housing Kirklees Limited (the 'charitable company,) for the year ended 31 March 2025 which Comprise thc Statement of Financial Activity, the Balance Sheet, the Statement of Cash Flows and the notes to the financial strltements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Fin<incial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic oflreland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial staten]ents: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025, and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in acoordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilltiesfor the audit of thefinancial statements section of our report. We are independent of the Charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRC'S Ethical Standar(L and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Material uncertainty relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. We draw attention to note l (k) in the financial statements, which indTcates that whilst the charity achieved a net surplus of £62,829 during the year ended 31 March 2025, that, as of that date, the company's liabilities exceeded its assets by £151,619. As statcd in note l (k), these events, along with other matters as set forth in note l (k), indicate that the charity is reliant on continued financial support from various stakeholders to be able to continue to operate. Accordingly, a material uncertainty exists that may cast significant doubt on the charity's ability to continue as a going concern. Our opinion is not modified in respect of this matter. Our responsibilities and the responsibilities of the trustees with Tespect to going Concern are described in the relevant sections of this report.
FUSION HOUSING KIRKLEES Lll¥llTED INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Other inforniation The other infomiation comprises the information included in the trustees. annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation contained within the annual rcport. Our opinion on the financial statements does not cover the other infonnation dnd we do not express any forni of assurance conclusion thereon. Our responsibility is to read the oth¢r infonnation and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of ihc audit, or otherwise appears to be tnaierially misstated. If we identify such material inconsisten¢i¢s or apparent n]aterial misstatements, we are required to detem]ine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that therc is a Enaterial misstatement of this other inforn]ation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infornlltion given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial statements are prepared is consistent with the financial statements. and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light ofthe knowledge and understanding Oft charitable company and its environment obtained in the course of the audiL we have tiot id&itified iiydterial Mi&stateRn1ts in tlie di¢t0, reFK)rt includedwithin the trustees, reFo We have n(rthing to LEPOrt in $pt ofthe following mattS in relation to which the Compani&8 Act 2(K)6 rquires us to Teport to you if. in our opinion.. adequate accounting bave notbeen kept, or tl1}S adequate for ouraudit have not en }Ved from branches not visited by us; or the financial statements are not in agreement with the a(Eouniing recorits and r&un. or cerLqin disclosures oftrusttts, remuneration specified by laware t made. or we have not received all the infom]ation and explanations we forour audit Responsibilities of trustee5 As explained more fully in the Trustees, Responsibllities Statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the tTUStees deterniine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
FUSION HOUSING KIRKLEES LIMITED INDEPENDEiYf AUDITOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonabl¢ assurance about whether the financial statements as a whole are free from material tnisstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accvrdancc with ISAS (UK) will always detect a material misstatement when it cxists. Misstatements Lan arise from fraud or error and are considered matcrial if, individually or in the aggregate, they could reasonably bc expected to inlluence the economic decisions of users taken on the basis of these fitwicial statements. Irregularities, including fraud, arc instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedurcs arc capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory framework applicable to the clwitable company and the environmcnt in which it operates and Considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud; We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including but not limited to, the Charities Act 2011. We ensured that the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. and We assessed the extent of compliance with the laws and regulations identified above through making enquiries ofmanagemenÉ and inspecting legal correspondence. Our tests included agreeing the financial slatement disclosures to underlying supporting documentation, review of trustee meeting minutes and enquiries of management. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the Érustees that represented a risk of material misstatement due to fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all IegularitIcs, includRng those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with the law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentionaI conc¢<ilmcnt, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Idcntify and assess the risks of material misstatcmcnt of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and oblain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement rcsulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the POse of expressing an opinion on the effectiveness of the charitabl¢ company's internal control.
FUSION HOUSING KIRKLEES LIMITED INDEPENDEiYf AUDITOR'S REPORT FOR THE YEAR ENDED 31 TrQ4RCH 2025 Auditor's responsibilities for the audit of the financial statements (continued) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures nde by the trustees. Conclude on the appropriateness of the trL]Stees' use of the going concern basis of accounting and, based on the audit evidence obtained, whcther a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty ¢xists, we are required to draw attention in our auditor's rcport to the related disclo.sures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence up to the date of our auditor's report. However, future events OT conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: htt s:/lwww.frc.or .uklauditorsres onsibilities. This description forn]s part of our auditor's report. Use of our report This ort is made wlely to the charitable company's membeLS, as a b(dy, in accotdancc with Chapter 3 of Part 16 of the Companies Act 21X)6. (kn audit wod( h&s b*n undertaken so tknt we might state to the charÈtable con]pany's rnembers those mattcrs we are required to state to them in an auditor's report and for no other purEx)sc. To the fullest extent pennitted by ]aw, we do not accept or assurne responsibility to anyone other than the cknitable cornpany and the charitable company's members as a body. for our audit worK forthis or for opinions we have fomied Aman Hayer (Senior Statutory AuditOT) for and on behalf of Wheawill & Sudworth Limited I l November 2025 Chartered Accountants Statutory Auditor 35 Westgate Huddersfield HDI IPA Wheawill & Sudworth Limited is eligible to act as an auditor of th¢ charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 10
FUSION HOUSING KIRKLEES LIMITED STATEMENT OF FINANCIAL ACTIVITY (Including Income and Expenditure Account) for the year ended 31 MARCH 2025 Total Funds 2025 Total Funds 2024 Unrestricted Restricted Funds Funds Note Incoming resources 2 Donations and legacies: 2,743 1,536 5 Charitable activities Homes Housing Advice Food Bank & Support Services 780,392 449,231 175,225 1,580 781,972 449,231 590,035 1.776,301 275,480 466,816 414,810 1,404,848 416,390 1,821,238 2,518,597 3 Otber operating activities 2,650,381 2,650,381 2,782,036 4 Investment income 267 267 24 Total income Ydnd endowments 4,058,239 416,390 4,474,629 5,302,193 Resources expended 6 Expenditure on raising funds 1,819,446 1,819.446 1,816,711 7 Charitable activities Homes Housing Advice Food Bank & Support Services Other 1,070,525 623,319 383,037 99,083 1,580 1,072,105 623,319 797,847 99,083 2,029,699 516,028 894,448 70,477 414,810 2,175,964 416,390 2,592,354 3,510,652 Total resources expended 3,995,410 416,390 4,411,800 5,327,363 l O Net incomel(expenditure) 62,829 62,829 (25,170) The notes on pages 15 to 26form part of thesefinancial statements
FUSION HOUSING KIRKLEES LIMITED STATEMENT OF FINANCIAL ACTIVITY (continued) for the year ended 31 IIE4RCH 2025 Total Funds 2025 Total Funds 2024 Unrestricted Restricted Funds Funds Note Net incomel(expenditure) 62,829 62,829 (25,170) 20 Transfers between funds Net movement in funds 62,829 62,829 (25,170) Total funds brought fonvard (216,386) 1,938 (214,448) (189,278) Total funds carried fonvard (153,557) 1,938 (151,619) (214.448) Continuing operation5 None of the charitable company's activities were acquired or discontinued during the current year. Total recogllised gains and losses The charitable company has no recogniscd gains or losses other than the surplus/(defi¢it) foi the current and previous periods. The notes on pages 15 to 26form part of thesefinanciol statements. 12
FUSIO¥I HOUSING KtIlKLEES LIMITED BALANCE SHEET AS AT 31 MARCH 2025 Notes Unrestricted Funds Restricted Funds 2025 Total funds 2024 Total funds Fixed asset5 14 Tangible assets 75,006 75,006 89,457 Current assets 15 Debtors Cash at b&nk and in hand 392,188 30,687 392,188 32,625 445,384 65,996 1,938 422,875 1.938 424,813 511,380 16 Creditors: amounts falling due within one year (625,290) {625,290) (815,285) Net current OiabilRties)lassets (202,415) 1,938 (200,477) (303,905) Total assets less current liabilities (127,409) 1,938 (125,471) (214,448) 17 Creditors: amounts falling due after more than one year (26,148) (26,148) Net Oiabilities)lassets (153,557) 1,938 (151,619) (214,448) 20 Funds Unrestricted funds Restricted funds: Jean Conway Trust Howitt Homeless Trust Development Fund (153,557) (216,386) 1,258 230 450 1,258 230 450 Total funds (151,619) (2 14,448) The accounts on pages I I to 26 were approved and authorised for issue by th oard on I l November 2025 and signed on their behalf PENCER Trustee Trustee Company registration number . 081583201 The notes on pages 15 to 26form part ofthesefinancial statements. 13
FUSION HOUSING iaRKLEES LIIWTED STATEMENT OF CASH FLOWS for the year ended 31 MARCH 2025 2025 2024 Note Cash flow from operating activities Cash generated by operations Interest paid 16,396 (2,334) 130,610 (1,626) Net eash flow provided by (used in) from operating activities 14,062 128,984 Cash flow from investillg actÈvities Payment to acquire tangible fixed assets Interest received (39,251) 267 (40,152) 24 Net cash flow provided by (used in) investing activities (38,984) (40,128) Cash flows fro]n financing activities: Loan repayments in year (8,449) (23,246) Net cash provided by (used in) financing activities (8,449) (23,246) Change in cash and cash equivalents in the reporting period (33,371) 65,610 Cash and cash equivalents at tbe beginning of the reporting period 65,996 386 Cash and cash equivalents at the end of the reporting period 32,625 65,996 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net incomel(expenditure) for the reporting period (as per the statement of financial activitie$) Adjustments for: Depreciation charges Interest received Interest paid (Increase)/decTease in debtors Increasel(decrease) in creditors 62,829 (25.170) 53,702 (267) 2,334 53,196 (155,398) 51,126 (24) 1,626 111,114 (8,062) Cash flow from operating activities 16,396 130,610 14
FUSION HOUSING KIRKLEFS LtMITED IYOTES TO THE FINANCIAL STATEMENrs 31 MARCH 2025 Summary of significant accounting policies (a) General information and basis of preparation Fusion Housing Kirklees Limited is a company limited by guarantee in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity infonnation on page l of these financial statements. The nature of the charity's operations and principal activities are to deliver a range of integrated services designed to prevent homelessness and alleviate poverty. The financial statements of the charitable company, which is a public benefit entity as defined by FRS 102, have been pr¢pared in accordance with 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 Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements arc prepared on a going concern basis under the histOTical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Ib) Ineome All income is recognised in the Statement of Financial Activities (SOFA) once the charity has entitlement to the funds, it is probable that the income will be receiv¢d and the amount can be measured reliably. {c) Expenditure Liabilkties 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 obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. (d) Raising funds Raising funds includes all expenditure incurred by the charity to raise fijnds for its charitable puryoses. (e) Cbaritable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. (fj Allocation and apportionment of costs Costs relating to a particular activity are allocated directly. Support costs that are not wholly attributable to a single activity are apportioned across the activities b&%ed upon calculations such as estimated usage. 15
FUSION HOUSING KIRKLEES LJtMXTED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 MARCH 2025 Summary of significant accounting policies (continued) (g) Tangible red assets Tangible red assets are initially measured at cost and subsequently measured at cost, net of depreKiation and any impainnent losscs, Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. Improvements to property Tenancy property assets Fixtures and fittings Computer equipment over the lease terni 330/0 on cost - 200/0 on reducing balance 330/0 on cost The gain or loss arising on the disposal of an asset is detennined as the difference between the sale proceeds and the carrying value of the asset, and is recogniscd in the Statement of Financial Activities. (h) Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The charity is consequently exempt Irom corporation tax on its charitable activities. (i) Fund Accounting Unrestricted fvnds can be used in accordance with thc 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. (i) Pension costs and other post-retirement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. (k) Going concern The financial statements have been prepared on a going concern basis as the trustees consider that the charity can continue to operate for the 12 months following the date of their approval of these financial statements. The charity achieved a SUTplus of £62,829 during the year but still had net liabilities of £151,619 at the end of the year. These historical results aros¢ during the year ended 31° March 2023 and were caused by changes to key funding slreams alongside the impact of COVID causing delay to repair and maintenance schedules of managed properties leading to a high level of vacant properties. It was not possible for the chaTity to immediately reduce its cost base in response to these challenges. Matters were exasperated by delays in the charity receiving funding from various sources. 16
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL S'I'ATEMENfs {continued) 31 MARCH 2025 Summary of significant aceoullting policies (continued) (k) Going concerll (continued) The charity has been involved in active discussions with both fLmders and creditOTS who have generally been very supportive. New contracts have been secured, in particular an Emergency Accommodation programme, secured towards the end of the previous financial year, which has assisted towards producing the current year surplus. Cash flow forecasts have been prepared to 31 March 2027 which show that with carefvl management of cash flow and on-going support from stakeholders, the charity can continue to operate and provide its valuable services to individuals with housing challenges in the Kirklees, Calderdale and Wakefield communities. 2 Donations and Legacies Unrestricted Funds Restricted Funds 2025 Total Funds 2024 Total Funds Donations 2,743 2,743 1,536 Other Operating Activities Unrestricted Funds Restricted Funds 2025 Total Funds 2024 Total Funds Rents and housing benefit 2,650,381 2,650,381 2,782,036 Investment Income Unrestricted Funds Restricted Funds 2025 2024 Total Funds Total Funds Deposit account interest 267 267 24 Income from Charitable Activities 2025 2024 Activity Housing advice Homes Housing Advice Food Bank & Support Services Homes t£gal help and court duty Grants Grants Grants Emergency Accommodation 255,106 66,903 194,125 590,035 715,069 277,590 1,403,308 275,480 466,816 95,403 1,821,238 2,518,597 17
FUSION HOUSING KIRKLEES LIMITED NO'fES TO THE FINANCIAL s'fATEMENTS (continued) 31 MARCH 2025 6 Expendithre on Raising Funds Other trading activities Unrestricted Unrestricted Funds Funds 2025 2024 Total Funds Total Funds Tenancy costs 1.819,446 1,819,446 1,816.711 7 Charitable Activities Costs Direct Costs Support Costs (see note 8) (see note 9) Totals Homes Housing Advice Food Bank & Support Services Other 774,073 450,042 576,054 298,032 173,277 221,793 99,083 1.072,105 623,319 797,847 99,083 1,800,169 792,185 2,592,354 Direct Costs of Charitable Activities 2025 2024 Staff costs Beneficiary Costs Beneficiary course costs Travel and subsistence Training Interpreter fees Legal Aid disbursernents LWP Food LWP Furniture 1,641,802 12,437 780 24,551 9,953 5,342 79,787 25,517 2,455,034 24,065 4,877 22,432 5,098 9.386 77,491 58.941 2,053 1,800,169 2,659,377 Support Costs Governance Costs Management Finance Totals Other resources expended Homes Housing Advice Food Bank & Support Services 24,150 74,933 99,083 298,032 173.277 221,793 298,032 173,277 221,793 693,102 24,150 74,933 792,185 18
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) 31 MARCH 2025 9 Support Costs- continued Support costs, included in the above are as follows: Other resources expended Housing Advice Homes Loan interest payable Sundries Bank charges Other interest payable Auditors, remuneration Legal fees Wages Pensions Rent, rates and water Insurance Light and heat Postage, stationery and telephone Other costs Depreciation of tangible assets 2,334 1,438 5,498 14,880 7,000 67,933 88,126 6,070 86,316 14,574 9,918 33,174 36,763 23,091 51,236 3,529 50,183 8,474 5,767 19,288 21,374 13,426 99,083 298,032 173,277 Food Bank & Support Services 2025 Total Activities 2024 Total Activities Loan interest payable Sundries Bank charges Other interest payable Auditors remuneration Legal fees Wages Pensions Rent, rates and water Insurance Light and heat Postage, stationery and telephone Other costs Depreciation of tangible assets 2,334 1,438 5,498 14,880 7,000 67,933 204,944 14,117 200,734 33,894 23,066 77,150 85,495 53,702 1,626 440 6,685 28,339 7,000 26,387 199,125 18,337 208,831 36,780 33,067 99,130 134,402 51,126 65,582 4,518 64.235 10,846 7,381 24,688 27,358 17,185 221,793 792,185 851,275 l O Net Incomel(Expenditure) Net incom¢/(expenditure) is stated after charging: 2025 2024 Auditors, remuneration Depreciation- owned assets 7,000 53,702 7,000 51,126 19
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEIVIENTS (continued) 31 MARCH 2025 I l Trustees Remuneration and Benefits There were no trustees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expense5 2025 2024 Trustees, expenses 12 Staff Costs 2025 2024 Wages and salaries Pension costs 1,774,164 86,699 2,543,794 128,702 1,860,863 2,672,496 The average monthly number of employees durin8 the year was as follows: 2025 2024 Provision of service Man<igement and administration 61 79 67 87 No employees received benefits (excluding pension contributions) of more than £60,000 in the current or preceding year. 20
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMLNTS (continued) 31 MARCH 2025 13 Comparatives for the Statement of FinaDcial Activities Year ended 31 March 2024 Unrestricted Restricted Total Funds Funds Funds Note Income and endojvments from 2 Donatiolls and legacies 1,536 1,536 5 Charitable activities Homes Housing Advice Food Bank & Support Services 744,027 1,032,274 275,480 466,816 1,776,301 275,480 466.816 3 Other operating activities 2.782,036 2,782,036 4 Iuvestnient income 24 24 Total income and endowments 3,527,623 1,774,570 5,302,193 Expenditure On 6 Raising funds 1,816,711 1,816,711 7 Charitable activitie5 Homes Housing Advice Food Bank & Support Services Other 997,425 240,548 427,632 70,477 1,032,274 275,480 466,816 2,029,699 516,028 894,448 70,477 Total 1,736,082 1,774,570 3,510,652 Total resources expended 3,552,793 1,774,570 5,327,363 Net incomel(expenditure) (25,170) (25,170) 20 Transfers between funds Net movement in funds (25,170) (25,170) RECONCILIATION OF FUNDS Total funds brought forward (191,216) 1,938 (189.278) Total funds carried forward (216,386) 1,938 (214,448) 21
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 MARCH 2025 14 Tangible fixed assets Tenancy property assets Improvements to property Fixtures and Fittings Computer Equipment Totals Cost: At l April 2024 Additions 136,278 219,927 36,065 33,059 68,008 3,186 457,272 39,251 At 31 March 2025 136,278 255,992 33,059 71,194 496,523 Depreciation: At l April 2024 Charge for the year 96,372 9,978 178,515 40,511 26,149 1,382 66,779 1,831 367,815 53,702 At 31 March 2025 106,350 219,026 27,531 68,610 421,517 INet book value: At 31 March 2025 29,928 36,966 5,528 2,584 75,006 At 31 March 2024 39,906 41,412 6,910 1,229 89,457 15 Debtors: amounts falling due witbill one year 2025 2024 Debtors and accnied income Prepayments 350,447 41,741 387,850 57,534 392,188 445,384 16 Creditors: Amounts falling due within one year 2025 2024 Other loans (see note 18) Trade creditors 28,476 324,056 190,357 6,757 23,103 45,541 7.000 63,074 272,797 305,683 12,023 12,773 141,935 7,000 VAT Other creditors Dcfcrred income Accrned expenses 625,290 815,285 17 Creditors: Amounts falling due within one year 2025 2024 Other loans (see note 18) 26,148 22
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 MARCH 2025 18 Loans An analysis of the maturity ol loans is given below: 2025 2024 Amounts falling due within one year on demand: Other loans 28,476 63,074 Amounts falling between one and two years Other loans- 1-2 years 26,148 Amounts falling due between two and five Other loans - 2-5 years These loans are secured by charges over the assets of the charity. 19 Leasing Agreements Minimum lease payments under non-cancellable operating leases fall due as follows: 2025 2024 Within one year Between one and five years In more than five years 4,278 539,271 18,930 44,353 435,534 543,549 498,817 20 Movement in Funds Net movement In funds Transfers Between funds At 31.3.25 At 1.4.24 Unrestricted funds General nd (216,386) 62,829 (153,557) (216,386) 62,829 (153,557) Restricted funds Jean Conway Trnst Howitt Homeless Trust Development Fund 1,258 230 450 1,258 230 450 1,938 1,938 Total Funds (214,448) 62,829 (151.619) 23
FUSION HOUSING iaRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENfs {continued} 31 MARCH 2025 20 Movement in Funds - Colltinued Net movement in funds, included in the above are as follo. Incoming Resources Resources Expended Movement in Funds Unrestricted funds General fund KMC Exchequer Services Grant Advice Services Grant KMC Employment Kirklees LATG- Trainee Solicitor Grant Public Health- Core 20 Grant CommunÉty Fund - Reaching Con]munities 3,623,566 57,051 124,674 65,323 18,849 93,500 75,276 (3.560,737) (57.051) (124,674) {65,323) (18,849) {93,500) (75,276) 62,829 4,058,239 (3,995,410) 62,829 Restricted fullds Local Welfare Provision- Food Kirklees Better Outcomes Project 414,810 1,580 (414,810) (1,580) 416,390 (416,390) Total Funds 4,474,629 (4,411,800) 62,829 24
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 MARCH 2025 20 Imovement in Funds - Continued Comparatives for movement in funds Net movement In funds Trnnsfers Between funds At 31.3.24 At 1.4.23 Unrestricted fuDds General fi]nd (191.216) (25,170) (216,386} (191,216) (25,170) (216,386) Restricted funds Jean Conway Trust Howitt Homeless Trust Development Fund 1,258 230 450 1,258 230 450 1,938 1,938 Total Funds (189,278) (25,170) (214,448) Comparative net movement in funds, included in the above are as follows: Incoming Resources Resources Expended Movement in Funds Unrestricted funds General fijnd KMC Exchequer Services Grant KMC Stronger Families Advice Services Grant KMC Employment IQirklees KMC Voids & Emergency Accommodation Grant LATG - Trainee Solicitor Grant Public Health- Core 20 Grant 3,157,308 72,782 38,650 159,069 8,333 55.000 5.314 31,167 (.3,182,478} (72,782) (38,650} (159,069} (8,333) (55,000} (5,314} (31,167) (25.170) 3,527,623 (3,552,793) (25,170) Restricted funds Local Welfare Provi8ion- Food Local Welfare Provision - Furniture Kirklees Better Outcomes Project Works Better- ESIF 466,316 500 1,045,921 261,833 (416,316) (500) (1,045,921) (261,833) 1,774,570 (1,774,570) Total Funds 5,302,193 (5,327,363) (25,170) 25
FUSION HOUSING KIRKLEES LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) 31 MARCH 2025 21 Related Party Disclosures There were no related paty transactions for the year ended 31 March 2025 (2024 none). 26
FUSION HOUSING KIRKLEES LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 MARCH 2025 2025 Total Funds 2024 Total Funds Unrestricted Funds Restricted Funds INCOME AND ENDOITrThIENTS Donations and legacies Donations 2,743 2,743 1,536 Other operating activities Rents and housing benefit 2,650,381 2,650,381 2,782,036 Investment income Deposit account interest 267 267 24 Icharitable activities Legal help and court duty IGrants Emergency Accommodation 255,106 434,673 715,069 255,106 851,063 715,069 277,590 2,145,604 95,403 416,390 1,404,848 416,390 1,821,238 2,518,597 Total incoming resources 4,058,239 416,390 4,474,629 5,302,193 EXPENDITURE Other operating activities Tenancy costs 1,819,446 1,819,446 1,816,711 Charitable activities Wages Pensions Beneficiary costs Beneficiary course costs Travel and subsistencc Training Illtereter fees Legal Aid disbursements LWP food LWP Furniture 1,335,973 61,793 12,437 780 24,551 9,953 5,342 79,787 233,247 10.789 1,569,220 72,582 12,437 780 24,551 9,953 5,342 79,787 25,517 2,344,669 110,365 24,065 4,877 22,432 5,098 9,386 77,491 58,941 2,053 25,517 1,530,616 269,553 1,800,169 2,659,377 Expenditure carried forward 3.350,062 269,553 3,619,615 4.476,088 27
FUSION HOUSING KIRKLEES LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 MARCH 2025 2025 Total Funds 2024 Tolal Funds Unrestricted Restricted Funds Funds Expenditure brought forward 3,350,062 269,553 3,619,615 4,476,088 Support costs Management Wages Pensions Rent, rates and water Insurance Light and heat Postage, stationery and telephone Books and subscriptions Repairs and maÉntenance Icomputer expenses Health and safety Motor expenses DeprecÉation of tangible fixed assets Recruitment 163,955 11,294 160,587 27,115 18,453 61,720 11,146 26,346 23,537 (8,085) 40,989 2,823 40,147 6,779 4,613 15,430 2,787 6,586 5,884 (2,021) 10,271 10,740 1,809 204,944 14.117 200,734 33,894 23,066 77,150 13,933 32,932 29,421 (10,106) 10,271 53,702 9,044 199,125 18,337 208,831 36,780 33,067 99,130 13,629 46,348 34,258 23,060 8,219 51,126 8,888 42,962 7,235 546,265 146,837 693,102 780,798 IFinance Sundries Bank charges Other interest Loan interest 1,438 5,498 14,880 2,334 1,438 5,498 14,880 2,334 440 6,685 28,339 1,626 24,150 24,150 37,090 Governance costs Auditors, remuneration Legal fees 7,000 67,933 7,000 67,933 7,000 26,387 74,933 74,933 33,387 Total resources expended 3,995,410 416,390 4,411,800 5,327,363 Net incomel(expenditure) 62,829 62,829 (25,170) 28