Charity registiation nuiiiber (England & Wales).. 1179743 Charity i'egistration nuinbei. (Scotlaiid).. SC052277 The National House Project CIO Annual Report and fitjancial Statements for the Year Ended 31 March 2024 NHP Living connected and fulfilling lives The National House Project CIO Contents Ileference and Adiministrativc Details TI'usLees' Report 2to6 Staleineni L)f'frustee%' Responsibilities Independent Audito2's' Repoit 8t0 I I Sialement of Finaiicial Activities 12 to 13 Balance Sheet 14 Cash Flow Staten)ent 15 Notes to the Finaiicial Statements 16 1031 Tlie f+4ational House l)roject CIO Reference and Administrative Detail$ Chalr M A Lestli Ti'iistee5 M A Leith J L Holland M Osborne J Robei'ts G S Williains Senior ManageNenl l L¢aderghip M Wan., Cliief ExEcu(iv¢ Officei. TcAlll Ch2rÉty Registration Nujnber 1179743 (En¥land and Wales) SC052277 (Scotlaiid) Priiicipal orrice Groiind Floor South Wing I The Qiiadrangle Crewe Hall Cheshire CWI 6UZ Auditor CBSL Accountants LiTnited Cliartered Accountants Rowan House North The l)rofcssional Qiiarter Shrewsbui'y Business Pai'k Shrewsbury Shix)p%hiYe SY2 C)l.G Solicitors Veale W&sbrough Vi￿rdS LLP Narrow Qiiay House Narrow Quay Bristol BSI 4QA Page I The National House Project CIO Trustees, Report T]ie ti'iisiees PE'esei)t tlie aniiiial report togethei. willi the fEiiancial 5tatement5 and auditors, Itport of the cliarity tor tlie yeai. ended 31 Maj'ch 2024. Ti'ustees and offieers The truste¢s and offic¢rs sei'vino diii'ing the yeaT and since thE yeai. end were a5 follows: Trustees.. M A Leiih J L Holland M Osboine {appointtd 27 Api"il 2023) J Robei'ts (appointed 27 Api'il 20231 G S Williams (appointed 19 February 2024) R Dickiiison (I'esigned 14 February 2024) M Flodgetts (re5igiied 14 Febi"uary 2024) Chaii.: M A Leith Senioi. Manag¢iiient l Leadership Team.. M Warr, Chief Executive Officer Sti'uetui'e* governance aiid mgiiagement Ivnliire o}'goveriiliiK dipciiiiieiil The chai'ity is incorporated linder a coilstitution dated 31 August 2018. Tlie fouiidei. {pre-in¢orporalion) triistees were appointed in June 2018 and the Boai'd of Trustees met for the first time in Octobei. 2018. A caiE-expei'ienced trustec was recruited to the BO￿.d in May 2019. Tlie Cliai'iÉy was incorpoTated on 30th Aiioiist 2018 and three einployees (Chief Excciitive Officer, Dii'ector aiJd PIDject Sdppoi'l Officei.) coinmen¢ed in theii. roles with tlie Chai'sty on 4tli Deceinbei. 2018, 011 25ih Janiiaiy 2023 the Chai'ity becamc registered as a Scottish cl)arity. The National House Project (NHP) was establislicd in ordei. to coiitiniie phase two of the Departmei)t loi. E(lucatioii's {DtE) Social Cai"e - Iniiovation Progi?IiYne - to support the developiiient of Lo¢al Hoiise Pi'oje¢ts in five local authorities and ciEate the evidcnce base, resources and financial inodelling to enable roll oui to other loc81 a4]thoJ'ities post March 2020. Re¢J'iiilptriciii iiiid ¢fJ?poiiili?iÈJii ollrii3l¥es Evely eharity ti'iistee is appOin￿d for a terni of 3 years by a resoliition passed at a ineetii)g of the Charity Iiiistees. Individiials al'e selected basecl on thEii' skills, knowledge and expei'ience lo ensure the effc¢tive adininisiraiion of the charity. Page 2 The INational House Project CIO Trustees, Report (continued) ObjeLtives and a¢tivi(ies Objetts aii¢l Iiiiii.$ The Dbjects of the charity focus the advanceinent in lif¢ of young people who have been in or have otherwise expei'ieneed the public care systein, NHP works with Socal authoriti¢s (LA) to establish and suppoit Local House Pix)jects ILHP). Using a psychologically illfoi.med practicc franiework the PKojectS PTOVLdc a safe and suppoi'tive envi¥0￿ment in which young people learn new skills. develop kniowledge, becoine pal't of the House Project coiillniiiiity and grow in confidence, tnabling them 10 live connecled and fulfilling lives in thcii. own hoines. Flousing is sou￿ed fvoni a variety of providei's and offers the security, coiisistency. and stability needed foi. th¢iii to live independently of the care system. Ongoiiig siippoil froin staff and otliei. youiig people in the project, based on positive long-terin relationships, provides a strong network of siippoil, and promotes Enterdependcnte. Tlie Hoiise Project &ppi'oach was co-designed wilh young people, and they I'emaiii at the heart of the pi'oject. They contiiiue to develop the projecl on a lucal and natior￿[ level. Eacl) LHP elects two yOLing people to rtPTcsenl them at Caie Leavers National Moveinent (CLNM) and this gi'oup woi'ks closely with staff at NHP to ensiire that die co-design principle Teinai115 at the centt'e of everything we do. Piihlic beiigfil The trustees ¢onfimi that they have coinplied wilh the reqiiiiEmcnt5 of 5¢¢tion 17 of the Chai'ities Act 2011 to h&ve due regard io tILe piiblic benefit Eiiidance piibli5hed by the Charity CoininÉssEon foi. England and Wales. Achievements and pcrfoi'maiice In Jiine 2023 w¢ celebi.ated oyi. fifth bi11hday and whilst Iniich has been achieved by the charity, the greatest success has been the i'elational appi'oach that has developed a real Sense of cominiinity. Dursng tlie year oui. l.loiise Project coiiiinunity grew by 158 to 744 young people and the iiuinber of yoiing people who had Inoved in to their first holme inci'eased froin 330 to 423. Of note there have been i)0 renancy breakdowns or evictlOll5. Young people have been siipp011ed by L14Ps iji 22 LAS &¢ross Fiigland and Scotland nd collaborative aiTang¢in¢nls in (ii'eateT Mai)chester (GMI 311d intei'nal sraling (I'unning two cohoi'ls a yeai-) ii) four of the Inore established LAS ¢oiiti'ibiited to this growtli. We atteiided a nuinber of confereiices across Gieat Britain which ha% contributed to Coiisiderable iiiteTest from LAS. We also deliveird oiir r￿St Conf¢irnce ii) Scotland to highlighi the fantastic work by the three LHPS. As tlic nuniber of l.HPs has inci'eased we have engaged with a second provider for psychological services to ensure sufficiency aiid th￿$ makes oiir offei. Inoi'e siisiainable. We ii)Ipleinented an iinp¥oved training otTer foi. LHP staff whieh included the iiitrodiictioii of a ceitifi¢ated awai"d in Social Pedagogy. The House Project Pi'ograintne IFIPP) and Oiitcon)es aiid I,eai'ning Fi2mework (OLF) continue to bc well I'eceived by both L.HP staff and yoiing people. 1481 IAQA) ceitificRles have been awarded to yoiing people in 2023124 a¢)d work coinmenced to develop oiir 5ysienis following registration with SQA for youllg people Scotland. A steering group, which included LS.IP stalf and yoiing people, continued Eo di'ive li￿p1.0Ve1ne￿I in this area of the sci.vice and 14PP now incliides Inodules on Peei. Mentoi'ing. and Energy and Watei. Effi¢iency. l)age 3 The National Iloiise Projeet CIO Trustees, Report (Continued) AcliieveiTi¢pts aiid i)erform*rtee {eontinucd) Thks yeai. Caye Leayers National Moveineiit {CLNM) piiblislied theii. second P£er r,valuaiion {?023) with a fociis on Owtiei'ship, Hoine aiid Sense of WellbLin8. -Fhe firidiiigs fi'oin this builds a posilivt lia￿alIve about yoiing people, their valiie, and the ways in which Iht approach pi'ovides the scaffolding to enable Iliein to succeed. W¢ added to oiii. gl'owing body of practice-based evidence witli positive I'epoi'is fyoin Cainbi'idge Uiiivei'sity and the LXIT stiidy (Waiwick Biisine5s School ciiid BedfordshÉre UnEvei'sity). We have been accepted as a Deinonsirator site by IMPACT (liiipi'oving Adiilt Cat'e Togetliei.) led by the University of Bii'ininghaiii to develop an evidence inloriiied chaiigc pi-ograEnJne to 51IPPOIt care leavers living in ihe coirnnunity, that has the ptslential to develop pi7ctice and policy at a iiational level aiid will start in Septen)bei' 2024. We Condi￿cted oiii. fii'st annual satisfaction 5IITvey Df both NHP and LHP staff which wa5 vei'y positive. OIIT work coiitinues to be i)ositivLly highlighted by Ofsted who inspect LA prDvision foi. care leavci%. CLNM continiied to operate on a regional and national footprint. Yoiing people attended Board as expeit advi%oi's and dn Advisoiy Groiip made up of regioiial cliair5 and vEc¢-chai1s siippoits this fiinction. Young people have been coinplcting the certificated peer meiitoring training progi'&mme. Theii. expert by cxpei'ience slalus ali8ned with the fizmework of suppoi'l has uiidoiibtedly been a factor in the increased niiiknb¢r of consultations that have been delivcred, coiitribiiting to wider sy5tein change. CLNM hosted theii. anniial ¢onfeiEnce in October with a focus of 'Wellbeing'. This was tlie secolid year of our Aspii"atiofial Awards and a fuithci. two Founds of funding opportunities pi'ovided 16 yoiillg people with &wai'ds. Thc Pi"ograinine enables young people whci have Inoved into their own home to apply foi. funding lo achieve theii. dreains and aspirations. We delivered on our bid fro1￿ Energy Redress Trust in partne￿hIp with f4nergy Pi'ojects PIEIs to develop 'Care leavers as bnei-gy Champion5'. The 18-nionth pi'ojeet infoi'nied, ediicated and raised awareness of enei'gy efficiencies by providing inieiisive suppoit witli lasting solutions so that tsiii. tal'e leavers can ayoid fuel poverty and sustaitt their tenancies. We oui. fust coiminunity fiindraising event in Noveinbei. with 30 people coiiipleting the Alton Towers Half Mai'atlioti. Fillancial revi¢iY The Chai'ity i'ecesved donatioi)s and gr3nt5 totalling £330,571 (2023 £377,065) during the yeai.. Iiicome of £669.917 12023 £411,352) was receivcd foi. pl￿viding its charitable activities OF which 91 /0 I'elated to Ineinbership aiid continiiation fees aiid specialist suppoit to LHPS. Costs for the yeor tota51ed £1,186,769 {2023 £1,112,245} with the In&in Costs being wages and consultancy fees to cvaluate and support the projects. Nct a5se15 of ihe Cliai'ity at 31 March 2024 totalled £369,069 (2023 £547,266), of which £36,131 12023 £46,154) was ie8tricted. Prineipal rislis aiid uricertaitJtlE5 Tlie triistees regularly ieview Ilie key risks faced by the cliarity, the e5tabli5hment of systeins and proceduirs to addi'ess those potential I'isks and Initigate aiiy iinpact on Ili¢ charily if they materialise. Page 4 The NationAI House Project CIO Tru8tees' Ileport {continued) Pollcy opi reserve.f 'rhe Cliai'ity is coininilted to ensiii'ing that it retains the finaiicial i'eserves to siippori all yoiing people, CUTrently engaged in L14Ps, into theii. fiTSt hoiiie in a plaiin¢d and measured w&y. It takes around a year to engage, siipport and Inovc youn8 people iiito theii. hoines. TheTefore, Irusiees hdve set the Chrti'iiy's unrestricted i'esei-ves to a lotal of six Inontl)s coir opei'atioiial costs for lh¢ yeai. 2024125 this would be & reserve of £370,000. Total chai'itable resei'vts ai 31 Marcli 2024 al'e £369,069, wliich in¢liide resti'icted resei'ves of £35,550 relat2ng to pi'ojeci delivery in the Noith West and Croydon iygioiis and £581 for Aspii'ational Awards. Unrestricted resei'ves total £332,938. The Tiustees designate reiMainiJ]g uniestricted resei'ves ID enable the Charity to deliver EIS coininitinents foi. n)embership servicts, support and continuatioii of its ongoing projects that air in progress at any point ID tiine gtnd are expected lo be used within the lollowing 12 Imonths. The Charity invoiccs Local Autliorities annually in MaichlApril foi. deliv¢i'ing ihe service iii tl)at fsnancial year and therefoi'e has s￿￿1Cle￿l fuiids available to pi'ovide Iliost contractual obligations for the toining 12 iiionths, WheTE invoiced before tlie yeai. End, this ii)come is included ITh deferred incoine and totals £30?,538 at the 31 March 2024. In addition funds are I'aised from a variety of TTUSt5, foiindaiions, biisine5ses and sndividiials to enable additional project5 to be delivcrcd and to suppoit iho general running costs of the Chai'ity. The Ti'ustees contiiiue to forecast for the coiniiig fiiiancial year to ensiii'e there are sufficient iinrestrirted iEserves lo operate and deliver tlie Charity's coininitineiitS. The Ti'ustees are confident that the policy meets Charity Coiminission (Fuidance. Plans foi. future ptrlods Young people tell lis tliat Hoiise PiY)jects woik for theni, and this is suppoited by an in¢i'easing body of evidcnce-based practice. NHP is tl)erefor¢ commilted to iiicreasEng its reach lo young pcople either by establiiliing new LAS or scaling the woi'k within LA5 50 that Inore young people can joiii LHPS or that the psychologtcally informed practice f1ainewoi'k is flexed to enable a whole sysiem to offer to young people leavints cai'e. To sUPPQlt organisational gro￿th ai boih strategic and operatioiial level we will develop and increase oiir woi'kforce (Depiity Directoi., Pai"licipaiion and Developinent Workei., Practite Lead) with a focus OM ￿'tate1. dive￿Ity amongst staff and ti'iistet5 and move into new office accominodation. With collaboTative arrangeii)eiits and iiiternal scaling, LHPS vaFy in size and ronfi(suration and hence oiii. tai'gets arc Inoi'e cleai'ly foc1I5ed on I'cach. We intend to inciEase the Hoiise Project coininiinily to 1,040 young people with 618 having Inoved in to their first home. N14P will con(iniEe to 5UPP011 CLNM lo positively e1)ga￿e young people so that the itsel. voice reinains central to oui. plannillg and poliry. CLNM will deliver oil tlie Peei" F.valiiation IEcoinJnendations Iroin 2023 and will 5urv¢y Cl.NM AILllllllI to identify how Cl.NM ha5 influenced and suppoited their outcomes. Both will be reported 011 at their Conference in Noveinber. We will continiie to iinpi'ov¢ the offei" to young peoplt and Ll.IPs by actints on the feedback loops fi'oin staff and yoiing people. In additioii, we will ensiire tliat we u5t thi. pi'acti¢e-based evidLnce iilc111011S. T1￿ 11( l¥ ￿lI)plic.Iblc lo cliii'ilic5 rcquircs Il)c liiislecs lo piLpaTL fiikTrll¢jril sliil¢iiieiKS for eacli fitk11rial I'Ccl[ ii-liicli giillc d InLC fail. i'ithv of t]￿ slale of atT{li￿ of llic ¢liai'ilJ aud of Ilic i]￿01￿11￿ rLsvu￿Ls dpplic Ilion ol "5011TLY5 of tl* chc1ri1}' for ilTrat peri(xl. Iii prep2ringJ I1￿S¢ [jlUllClcil strkleinei115. I1￿ trustees ATL IEqllitrd to.. seleci ￿lItable ccoiiiiiing poliGie5 and tlien applir th¢in consisieiitl}': obSc￿e tlIE In¢llio(Is 41nd principles iii t]￿ Cliiiriiies SORP: iidte judgeiMeii15 aiid eslijnaies tlial r¢asol￿bl¢ and piii(iciil". skniie ii'liellier dpplicablt li￿o￿nIing siandards IMv¢ been folioived. subject to iiiateridl d¢partutes diselosed c1nd cNpl<2incd in Ihe fit&in¢ig1 sL1teinonls- and i)repare t]￿ fi]kgncial SI￿1£nIel)IS 011 I]￿ goiiig concem bgsis unless il is Illc1ppropriale 10 Pltsiiii)e Ihcit Il ¢lidrily ii-ill coiilinuc inbusiiKs%. T1￿ Irustecs circ respoiisibl¢ for kc¢psiig prop¢r.icc0iiiitii￿ records IILII disclosc iliili IYa50nAblc ccisracy ai uiid tlLQ proi'isiojts of il onsiiliilion. Tlie liiisiees Jre also respoitsible for ￿¢Buall1]llY ilie asscls ol clilc rily ¢ind IKiic¢ for tskii)¥ r&1SQn()ble sleps for t1￿ i)ITii¢ni1011 lind deieclion of frdiid oil)ei' i)Tc￿51arilJeS. Tlie Inistees I1re responsibl¢ for Il* in?inleiil¢ inl¢giih'. of tli¢ coii)oNte al￿ fitthn¢ial infonnation itKludcd 011 t1￿ cl&irilcible coiiipaEIy'5 Iicbsitc. Lcgi55atioi1 goi'¢riiii)bi Ilic prtpaialioEL di55ctllli￿IioI} of rillai￿1￿1 siaE¢lllClrts mav dilT¢i' Irojii Icgiglklioii iii ollierjurisdi¢tions. Approvcd by Ilic Iruslecs oli1￿ clkitilTr" 011 *dnd sigiicd ils bclknilf by., M A l.eiih Cliqirnian and In￿1¢ Pagc 7 Tlie National House Project CIO Indepcndent Auditor's Report to the Members of The National House Project CIO Opinion We have aiidiied (he financial %tat¢n)enis of The National Hoiise Pi'oject CIO Ithe'¢liarity') for the year ended 31 Maich ?024, which comprise tlie Stateinent of financsal Activitit5, BAlaiice Sheet, Cash Flow Statement, and Notes to the Financial Statelneiits, including a suniinaiy of significant accountincy policies. 'Ihe fiiiancial repoi'ting frainewoi'k that has been applied in theii. PTcparation is Uiiited Kingdoin Aceoiinrlng Standaids. coinprising Cliarities SORP- bRS 102 'TI)e Finaiicial Repol'ting Standard Mpkilicable in th¢ UK and Repiiblic of Ireland. alld applicable law (United Kiiigdom Geneially Accepted Accoiinlllig Pi'a¢ti¢e). Iii oiii. opinion the financial stateineiiis.. give a ti'ue and fail. view of the slate of the chai'ity's affairs as at 31 March 2024 and of its iiicoilling Yesoiiices aiid applicAtion of resouices, including its incoine and expenditUlE, for the yeai. then ended; have been propei'ly prepared in a¢¢ordance with Uiiited Kingdorn Gentially Accepied A￿ount￿ng Pi'actice., and hav¢ been prepared in accordance wilh the reqiiii'emerEts of the Charities Ac$ 2011, Charities and Trustee Investinent (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as qinended). Basi5 for oplnion We conducted our audit in accoi'dance with International St&ndaixls Auditing (UK) (ISA% {UK)) attd applicable law. Oui. re5pongibilities under ihose 5tandai.ds al'e ￿rthel. descrsbed in tlie aiiditoi. iesponsib￿litIeS fDr the aiidit of the financial stateiiient5 sectioii OF our report. We are independent of the chai'ity iv accoi.dancc with the ethical I'equiieinents that are relevant to our audit of the finaiicial statei)ients iii the UK, including the FRC'5 Ethical Standat'd, and we have fvlfilled oiii. other EihEcal r¢spoiisibilitEes in accordance with these i'equireinents. We believe that the audit evidence we hav¢ obtained i5 511fficient and appropi'iaie to pi'ovide a basis for olli. opinion. Conelusions relating to going concern Iii auditin thc fiiiancial siateinent5, we hftve concluded that the li'usiees use of the going concein basig of accounting in the preparation of the fiiiancial siateinents is appl'(Jpr￿{l1c. Based on tlie work we have perforEned. we liave i)ot identified any material unc¢rtaintie5 Trlating to events or conditions that, individually oi. CDlleclivelyi Inay cast sigiiificftnt doubt on the cliai'ity'5 ability to continiie as a going concern for a period of ai least twelve 1710nihs froin when ihe original finat]cEal 5tateFnents were authorised foi. issue. Oiir i'espoIisibilities aiid the responsibilities of tlie trustees with rcspect to (¥oiiTra concern are described iii ihe relevant sections of tliis Tepoit. Page 8 The National House Pi'ojcL't CIO Independent Auditoi s Report to the Members of The National House Project CIO (continued) Other iiiforinatÉoii Th¢ triistecs Ltre responsible for Ihe otlier inforinatioii. 'I'he othei- iiifoi'ination COTnprsses the inforination incliided in the repoi'l. othei. than the financial staleiiicnts and our audiloi s irport Ihcieoi). Oiii. opinion on tlie financial statenieiits does not Lovei. rhe othei. inforination and, ¢xcept to the extent ot11¢rwis¢ explicitly slated in our I'epoi't, we do tjol expi'ess any foi'm of assuric nce concliisioii thereoi). Ii) coniiection with our aLidit of the F511an¢ial stateiiicnls, oiir iesponsibility 15 to read Éhe othei. information and. in doillg so, consider whethei. thc othei. inforinatioii ts niaterially inconsistent with tlie financial stttieinents oi. ouj. knowlcdge L¥btained in the Mudit oi. otherwise appeal's to be Inaterially Inisstated. If we idejitsfy siich material incDll%l8tenei¢s or appairiit material mis5tatemenls, we are reqll￿l.ed to detennine whetliei. Ihei'e 15 a inaterial lllj5Stat¢incnt in Ihe financial staten)enls or a inalei-idl iiiisstatement of the other inloi'illatioii. If, based on the wtsi'k we h8ve perfoi'ined, we Conclude that Iheie is a material inisstatement of this othei. information, we are reqtiired to ieport that fact. Matter5 on which ivt #re required to report bv eyceptlon Ill the light of oiir knowledgc and Linderstanding of tlie charity and its environineni obtained in the course of the audit, we have not identified Tnatej'ial misstateinents in the Trustees, Report. We have nDthing to report in respect of the following matt¢i"5 in relatioii to which die Charilits (Accoiints and Reports) Retsulations 2008 and the Cliai'ities Accoiints (Scoilandl Regulations 2006 require lis to report to you if, in oui. opinion.. the inforination given in the Trustees, ieport is inconsistent in any material respect wilh the financial 5tatemetits; or pi'opei. and suIYscieDt accounting records have not been kept,. or the financial siarements are iiot in agi'eement wilh the accounting I'ecords and retiirng; or we have not received all the infonTration and explanations we I'equire for our audit. Responsibilities of trustces As eyplgined Inore fully in the Slateilleiit of Ti'iistees, Responsibilities (set out on page 7), the ti'ustees aye responsible foi. (he piEparatioii of the financial 5tateinents and for being satl5fied that they give a trut ai)d fair vieNv, and for such internal coiiÉrol as the Ii'ElStees detei'ii)iiie is necegsary to eiiable the prepaiatioll of financial stateineiits rhat are free fi'oiii material Inisstatetnenl. iyhetlier diie lo fraud or ei'ror. In preparin(7 the financial stateznents. the kn'ustees are responsible for assessiiig the charity's ability to Lontii)ue as a going coiictm, disclosing, a5 applicable, i)ialtei's related to going ¢OI)¢ern and iisiiig the going concei'ii basis of aLLoilnti￿lg unless the tTiLSt¢es eilliei. inl¢Dd to liquidate the chaTlty or to Ceasc opeJ7lions, oi. have no realistic alternative biit to do so. Page 9 The Natlonal House Project CIO Independent Auditor's Report to the Mcmbers of The NAtional House Project CIO {continucd) Auditor Respon%il)ilities for thc audit of tlic fLnanei81 statements We have been appointed as auditor iindei. section 144 ()[ the Chai'ities Act 201 l and section 4411)(c) OF ihe Chai'ities and Trusiee Investineiii (ScDiland) Act 2005 ai)d report in accoi'dance with the Act and relevant I'Egiilatioiis made 01- Iiaviiig effect thci'eiii)der. Our objectives are to obtain ieasonable assiiiat]ce about whethei. the finanLial slalenierits (Is a whole are free froin i)iaterEal misstatement, wheihei. diie to ITaLid or errol., and to issue ali auditOl'5 report that incliides our opii)ioii. Reasonable assiirance is a l)is)h level of assiirance, but is not a guaraiitee that an au(lit condiicted iii accoi'dance ivith ISAS (UK) will always detect a materEal anisgiatement when it exssts. Misstareiiients can ai'LSC from fraiid or eri'or aiid are considered InÉilei'ial if, individually oi. in the aggrcgate, tEiey coiild reasollably be expected to influence the ccononiio dcci5ions of usei's taken on the basis of these financial 5tate111ents. 'rhe extent (o which our procedures aiE Capable of detecting I￿egUla1.)tl¢S, including fraiid is detailed below.. We obtained an understanding trf the legal and regiilatory frainewoj'ks tliat aTf applicable to this chai'ity and ils sector and detei'inined that the most significani are those I'elatsng to the reporting framework atld the relevant UK tax legislation. We understood how the chai'ity is complyirtg with those fraineworks by making enquiries of Inanageintnt and tht)se rcsponsible for legal and coii)pliance proccdureg. As an audit engagement team, we assessed the susceptibilily of the charity's finaiicial staleTnent5 to imaterial mi55tatetnertt including how fraud Imight o¢ciii' and considere(I the oppoi'tut)ities and incentives that may exist within the cl)ari(y for fraud. We coiisidered the conti'ols that the chat'ity has Cgiablished to addi'ess the risks identified to preient. detet. a￿d detect fi2ud', and how the management and trustees nionitor those controls. Based oil our underslandiiig ive des1￿]ed our aiidit proceduiES to identify noll-coinpliance willi laws and IEgiilations. TtLose proceduies involved.. enqiiii'ie5 of inai)agement and those charged with govemhnce. journal entry testin¥. assessit]g whetlier jiidgemeiits in inaking aceounttng esiiinates al'e iiidicatEve of a poieiitial bias. review of finaiicEal siateinent disc5osiires and testing to %uppoi'ting dociitnentation to a55ess coinpliatice with applicable laws and I"egulations' and EV1( luatiiig the busiHebS rationale of any significant transactions that are UllUSLsal or oiitside tli¢ normal coui'se of biisiness. Where tlie risk Ivas coiisidered to be higher, we pei'foi'ined aiidii pi'ocediire5 to a(Idress each identified fiziid i'isk or other risk of tnaterial misstateiment. These procediires included reveniie t'ecognition and iestii)g Inanu81 journals and weir designed t(} pi'ovide reasonable assui'3nce that tlie finaiicial stateinenis wei'e free fi'oin fraud or eri￿r. We i'einained alert to any indications of fi'aud or non-compliance with laws artd i'egulations throughout the audit. Because of ihe inheiEnt limitatTons of an aiidit. Èhei-e ts a risk that we will not detect all iircgulai-itie5. incliiding those leading to a Inarei'Eal ini$51Ateiiient iii the financial stalements or Iioii-coiiipliaiice witli i'egulation. This I'isk incirases the mol'e that coinpliance with a law or regulatioii Es reinoved fi'om the eveiils and transaciioiis reflecied in tlie financial staicinents, as we will be less likely to become aware of iiislances of tkon-eojnpliance. The I'isk is also ￿eate1. regai'ding ii'regiilariiie5 occurring due to fraud rather thai) eri'or, as fi'aud ii)volves intentional concealjnent, forgeiy, collusion, oiiiission oj. mi5represeniaiion. A fiirther desci'iplion of our Irsponsibilities is available on Ilie Financial Repoi'lil)g CoLincil's website at.. www.fi¢.org.iiklaiiditorsirsponsibilities. 'l-hi5 dcscriptioii fomis pai't of oiir Biiditoi's iepoit. Page 10 The National House Project CIO Independent Auditor's Report to the Member5 of 'fhe National House Projeet CIO {euntinued) Use of our reporl This irport IS 171ade solely io ihe charity ti'ustees, as a body, in accoi'daiice with section 144 of the Cl)ai'ities A¢t 201 l and i'tgulations Iniiised ot) a releivablc b8sis when I'eceipt is probable and the amount can be reliably ineasured. Gruiii& receivaljlg Grants al'e IEcogni%d ivhen the charity has an entitleinent to the funds aiid aiiy conditioi)s linked 10 Ihe grants have bceTI Inet. WheTe perforii)aiicc coi)diiions are atmched to the gi'ant aiid ale yet to be i)iet, Ihe incoine is recoJts ised as a liability and in¢liided oli tlie balcince sheet as deferred income to be released. Defei'rEIl iiiL'oipie Defeii'ed income repiEsent5 amoiints received for futiire pei'iods and is released to incoming resoui'ce5 Ill the period for which, it has been received. Such tnconie is ollly defei'red when: Tlie doiior specifies that the ￿art[ Dr donELtioii Jniist oiily be tjsed in fiitiir¢ accountin8 pei'iods.. or The donor has iimEy)sed ¢onditions whicli miist be met tKfoi'e the charity lia5 unconditl011al eiititleinent. Page 16 Tlle Tr4atiollal House l)rojeet CIO Notes to (he fiinancial Statements for the Ycar nded 31 March 2024 (Continued) liivEslJiiciii iiicopiie Dividcnds are I.ecog￿lS¢d tsnce the dividLnd lias been dbclared and notification lias been I'eceivcd af the dividend due. Clifiril¢il)le 4ciivlli 'rhe cli(ti'ity receives giant iiicoin¢ w51ich 15 recognised wheii the charity has eiiiitleinent to tlie funds and any cotEdEtioiis linked to th¢ gran15 Iiitve been met. Where pei'foi'mance i'elated condstions al'e attached to the gi.aiit and al'e yet to be met, the ijicoine is reeognised as a liability and included oil the balance sheet as deferi-ed iiicoiTte to be r¢leased. Expenditure All expenditure is reco￿lSed once there is a legal oi coiistructive obligatioii to tlidt expenditure, it is probable seltltjnent is reqiiired and the ainount can be measured i-eliably. All costs al'e allocated to the applicable expenditiire heading that aggregate siinilai. costs to Il)at tategoiy. Where costs cannot be directly attTibuted to pai'licular headings they have been allDcaied on a basis consistent with the use of resoui'ces, with central staff COSts allocated on the basis of tiine spent. and depi'eciation chai'ges allocated on the portioii of the asset's use. oilicr suppoi"L cosis are alloealed based on the spread ofstaff costs. RuisiiigfEiiids These are costs incui'red in attracting voluiitary incortje, the Inanageineiit of invesiments and those incuTred in trading activitÉes that raise ￿ftds. Clittriiuble aclivllie5 Charitable expenditure coniprises those cost5 inciirred by the charity in the delivery of its activities and services for its beneficiai'ies. It includes both costs that can be allocated dii'¢ctly to such a¢livities and those costs of an indirect naiiii'e ne¢essai'y to suppoi'i them. Gr(iiilprov151QJlS PIDvisioi)s foi. grants al'e illade when the iniention to Inake a grant has becn Coininunicated to the recipient btit there is iincerlaillty abolit eiiher the timing of the graiit or the aTt]ount of grant payable. Siipporl c05t8 Suppori costs include central fiin¢tions and have been allocdted to aclivlty Cost categories on a basis consi5tei)t with tlie use of resources. Coyernanee cosls These include tlie cosis aiirkbiitable to ihe charity's Lompliance with constitiitional and staiutory reqiiii'enientS, iilLluding aiidil, Straiegic iiianageinent and Ii'iistee5 Ineetings and i'eimbursed expenses. Taxation The charity is considei'ed to pttss the tests s¢t out in Pardnds was.. 2024 2023 £80,001 £90,000 £ioo,001 £iio,000 The tothl employee remEiTrel'at￿0n and benefits (excluding pensioTh cotttribiitioiis) of the key Inanagement personiiel of t11e charity werc £190,08412023 £186,084). 8 Trllstecs reinuii¢ration and expen5¢5 No ts'ustees. nor any pei'50ns connected wi(h thein, have received any reinunei?tion froin the charity dElI'ino the year. No trusiees have received aiiy other benefits froin the charity during tli¢ year. Dliring the year expenses lotalling £50012023 £131) weiE rciinbui'sed to two12023 on¢) of the Ti'ustees. 9 IndepLndent ex￿MIner'S remiineration 10 Auditors, remuneratiuii 2024 2023 Audit of the finaii¢ial staternenls 2,600 2,600 I l Net incomingloiitgoiiig re5ou1.ces Net oiiigoing re8oui'ce5 foi. the yeai. include.. 2024 2023 Audit fee5 Depi'eciation of fixed assets Al￿OrtISation 2,600 2,172 5,200 2.600 1,889 5.200 P&ge 25 Tlie National House Project CIO Note5 to the Financial Statementy for the Year Ei nded 31 Mareh 2024 (continued) 12 Taxation The charity is a Irgistered charity ￿lid is thcrefore exeinpt fruTn taxation. 13 Intangiblt fixed asscls Oiiliii¢ portal devclopincnt costs Tot&1 Cosl At l April 2023 At 31 Mairh 2024 26,000 26,000 26,000 26,000 AtnortÈsation At l Apj'il 2023 Chaige foT the year 16,900 5,200 16,900 5,200 At 31 Maich 2024 22.100 22,100 Net book value Ai 31 Mai'ch 2024 3,900 3,900 At 31 March 2023 9,100 9,100 Page 26 The Natiunal House Project CIO Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 14 THnglble fixcd assets riiiriiiture and equipment Total Cost At l April 2023 Additions 9,513 1,906 9.513 1,906 At 31 Mai'cli 2024 11.419 11,419 Depreciation At l Api"il 2023 Chayge foi. tl)¢ year 3,615 2,172 2,172 At 31 March 2024 5,787 5,787 Nct book vhlue At 31 Mdich 2024 5,632 5,632 At 31 Mai'ch 2023 5,898 5,898 IS Debtors 2024 2023 Trade debtoi's Prepayinents 343,913 4,454 239.595 24,590 264,485 348,J67 16 Casli gild cash cqvivzlents 2024 2023 Cash at bank 388.330 664,190 Page 27 The National House Proj¢¢t CIO Notes to the Finaneial Statements for the Year nded 31 March 2024 (continuLd) 17 Creditoi's.. aniount5 fxlliiig due ivitliin one y¢llr 2024 2023 Tj'ade creditors Other taxatioR and social security V AT graiit iepayable Other ci'editors Pension Schel￿e creditor Ac¢rirnls Deferi'ed incoine 7,165 9,149 47.435 1,177 7,141 2,555 302.538 20,268 9,241 5,420 56 7.161 2,557 351,7( 377.160 396,407 2024 2023 DefeiTed incoille at l April 2023 Resource5 deferred in the period Amounts released from previous perEods 351,704 252,538 (301.704) 263,176 135,037 146,5091 Defetyed ijicome at yeai. end 302,538 35 1.704 Def¢rred income at 21 March 2024 relates lo Inembe￿hiP aTrd psychology fee income invoiced in advancc for sei'vices to be delivered durin the year ended 31 Mai'ch 2025. Page 28 The National House Project CIO Notes to the FinAncial StatemLnts for the Ye%r Ei nde(131 March 2024 (CODtinlled) 18 fiunds Balallcp #t I April 2023 Inc(kihiiig I'&soui'ces Resources expended Balance at 31 Marcli 2024 Uiiyestricted funds GeiierNI Um'estricted 501,112 909,373 (1,077,547) 332,938 Restrieted fuiids Aspiiational Awards Stoke Flouse Pi"oject Nationwide Coininiinity Grant Energy Savings Trust LatadAid 25,000 {24,419) {54) 123,0501 (49,199} 112,500) 581 54 46.100 23,050 49,199 25.000 12,500 Totgl restrictcd fllnds 46,154 99,199 (109,222) 36.131 Total fund5 547,266 1,008,572 11,186,769) 369.069 Balance at 31 Mareh 2023 Balance at I April 2022 liiconiing resources Resources expended Tra115fer.% UNr¢stricted funds Geiiei'¢il Unrestricted 827,000 699,307 11.033,235) 8,040 501,112 Designated 13,692 {13,692} T￿tal uni'estricted luiids 840,692 699,307 (1,033,235) 15,652) 501.112 Restricted A5piratioi)al Awai.ds Stoke Floiise Project Nationwide Coiiiinunity G12nt Cri5j5 Fiiel Vouclici. scheiiie F.nergy Savings Trusi 27,000 500 4,400 (37,052) (446) 5,652 54 46,100 2,000 39,512 416,100 (2.000) (39,5121 Total restricted fuiid5 27,500 92.012 79,010 5,652 46,154 Total fiinds XC)8,192 791,319 11,112.245) 547,266 Page 29 The National House Project CIO Notes to the Financial Statements for tlie Ycar Fniled 31 March 2024 {eontiiiued) 18 Fiinds IL(trntiiiued) The specifjc purposes for which the fiinds air t() be applied are as follows.. A5PllXtional Awai'ds- fiiiiils to Fdciliiate the A%pii'aiioiial Aivarcls scheint. Stoke Iloiise Project - funds to eiiable the piii'chase of Ineiital health week suppoil packs for the Slokc Flouse Pioject. Natiotkwide Coimmunity Grant - funds received for the 'Suppoi'ting Care Leave13 into the North West l.louse Pi'ojtcts,, Crisis fuel Youchers . funds IEceived to enable the piirchase of fiiel vouchers foi. young people. Energy Saving5 Tyusi - i"elates to tunds I'eceived to develop an approach to energy e￿l¢lencY aiid fiiel poverty for care leaver5. LaTrdAid - funds i'eceived to support the developinent of (he Croydon House Pi'ojeet. 19 Analy515 of net assels betsyeen funds Uvresti'Éeted fund$ Gen¢rul Total fll￿d$ at 31 March 2024 Restrieted r￿lldS Intangible fixed asseis Tangible fixed assets Cui'rent ass¢is 3,900 5,632 700,566 (377,160) 132,918 3,900 5.632 736,697 (377,160) 369,069 36.131 Total net a55ets 36.131 Unrestricted lunds General Total luiids at 31 Marcli 2023 Restricted fun(Is Intangible fixed assets Tallgiblc fixed assets CIii'iEnt assets Cuti'enl liabilities 9,100 5,898 882,521 (396.407) 501,112 9,100 5,898 928,675 (396,407) 46,154 I'ot81 iiet assets 46,154 547,266 Page 30 The National House Project CJO Notcs to the Financial Staten)ents foi. the Year nded 31 March 2024 (contiiiued) 20 Aiialysis ofnet funds At l Api'il 2023 At31 March 2024 Casli floivs Cash ai bank and iii hand 664,190 (275,1160} (275,8601 388,330 Net debt 664,190 388,330 21 Related party transaelions Tliere wei'e no related party Éransactions the year. Pa8e31