ChaTity IEgislralion niiiiibei. (F,Iigland & Wales).. 1179743 Charity Irgishation number (Scotland).. SC052277 The National House Project CIO Anniial Report and Financial Statements for the Year Ended 31 March 2025 NHP Living connected and fulfilling lives
Tlje Iyational House Project CIO Contents Refereii¢e and Administi?tiv¢ Details Truslees, Repoi 2to6 Stateinent of Tnistces, Responsibilities Independ¢nt Audiloi's, Report 8t0 11 Statement of Financial Activities 12 to 13 Balance Sheet 14 Cash Flow Stalernent 15 Notes to the Financial Slalements 16to 31
The National IIou5e l)rojeet CIO Rcfcrenee and Administrative Details ChRir M A Leith Ti-i15te¢s M A l.¢ith J L Holland D M Nkiinika M Osborne J Robeils G S Williams Senior Management l Leadership M Warr, Chief Executive Officei. Team Charity Regsstration Number 1179743 (England and Wales) SC052277 (Scotland) Pi'Ènclpal Offiee Cjround F'looi. South Wing I Th¢ Quadrangle Crewe Ilall Lheshire Cwl 6UZ Auditor CBSL Accountants Liinited Ch&riered Accounlants Rowan House Noi'th l The Pi"ofessional Quarter Shrewsbury BEisiness Park Shrcwsbury ShTopshiTe SY2 6LG Solicitors Veale wasbroU Vlzai'ds LLP Nai'i'ow Quay Hoiise Narrow Quay Bristol BSI 4QA Page I
The Natiojial FIollse l)roject CIO Trustees, Report Tlic ti'ustee5 preseIit the aIiiiual Yeporl togcthei. with the finat]cial 5tateineiits aiid auditor5, i'cporl ol. the charity for tlie year elided J l Mai'ch 2025. Ti'iistees and offieers The trustees and officers serviiig during the year and since the year end were as follows.. Trn5(ees'. M A Leitli J L Holland D M Nkunika (oppointed 28 April 2025) M Osboine J Roberts G S Williams Chair.. M A Leith Seiiior Maniigeiii¢nt I l.eadeisliip Teain.. M Wali., Cliief F.xecutive oificer SÉrueture> goverTrathet and management Ivalure ofgoveriiing dociinieiil The charity És itLcorpoi'ated under a constitution dated 31 August 2018. The founder (pre-incorporation) trustees were appoinied in June 2018 and the Board of Triistees met for the fii'st time in October 2018. A carfrexperienced tru5tce was recruited to the Board in May 2019. The Charity was in¢orpoi'Eted on 30th August 2018 and three einployees (Chief Executive Offi¢ei', Director and Projcct Suppoit Officer) coi]]menced in their roles with the Charity on 4th Det¢inber 2018. On 25th January 2023 the Chai'ity becaTne regsstered as a Scottish charity. 11]e Naiional House Pi'oject {N14P) was estgblished ol'der to continue phase two of th¢ Dep[eThI foi. Edu¢atioi)'s (DfE} Social Care- InIiovation Pi'ogranime to SLEpport the developinent of Loc&1 House Projects in five local authorities and ci'cate th¢ evidence base, resoufcES and financial modelling io enable roll out to other local authoi'ities post March 2020. Recriiltsiieiii (iiid uppoliiliiieiil uf IruslÉes Every char5ty tt'118tec is appoii)ted for a term of 3 years by a resolution passed at a Ineeting of the charity trustces. Individuals are 5¢1ected based on their skills, knowledge and experience to ensure the effeeiive administration of the Charity. Page 2
Tlie NAtioiial House Project CIO Trustees, Rcpurt (continued) Objeclives und activities Oljjecls iiliiis Tlie objects of the ¢liarity focus on the advanceinent ii) life of young people who have been in or have otherwise expeyicnced the piiblic care systei)). NHP woi'ks with local aiithoritics (LA) to establish and siipport Local House Projects (LHP), wliich pi'ovide a safe and suppoitive environmen( in which young people leai'n new skills, develop knoivledge, becoine pait of the House Project Comiiiuniry and gl'ow in confidence, ¢nabling them to live connected aiid fulfilling lives ll) their own homes. Housing is sourced froiii a variety of pi'ovidei's and offers tlie security, consistLn¢y, and stability needed foi. thein to live indepEndently of the Gal'e system. OnggEng siipport froin l.HP slaff and oiher young poople, based on positive lung-L¢i'm relatioiiships, provides a styollg network of support, and pyomoies interdependency. The House Proje¢t approach was co-designed with young people, and they remain at the centre of our work and contiiiiie to develop the approach oi) a local and national level. bach LHP e5ecis iwo young people to represent them at Cal'e Ltavers National Moveinent (CLNM) and tliis '0[1p works Closely with staff al NHP aiid with trustees at Board InettiliBS to ensuir that co-de%ign principles Irn)ain at the ctii(re of everything we do. Pulplie beiiefil The trustees confii'm that thEy hÉive coillplitd with the requiiem¢nt5 of section 17 of the c.harities Act 2011 to have due iygard to the public benefit guidance published by the Charsty Coinsnission for England and Wales. Achievements performanee At NHP everyihing we do starts with young people. It was their voices, honest, powerfiEI, and fvll of vision ih&t Sp&ed our journey and led to the establishinent of the f$1 Local House Project (LHP) t¢ll years ago. Sllice tlien, we've grown. inlentionally, and always in partnei'ship with a mission to support LAS by Creating LHPS that enable young people to leave care with piirpos¢, ainbition. confidence, and coininunity. Ovei. the past year. our House Project coinmunity expanded by 186 yaung people, bringing the total lo 930. The number of young people who 0Ved into their first hoine rose frott] 423 to 551. Iinportaptly, there wtre no tenancy breakdowns or evictions. Young people have been siipported by Local Flouse Proje¢ts (LHP) which increased froin 22 10 26 LAS across Engl8nd and Scotland and collaboixtive arrangements in Greater Manchester IGM) and interDal ScalnE (I'unning two cohorts a year) in five of the more establsshed LA5 contributed to this growth. lu %eptember 2024 the House P¥oject Pi'ogianune (HPP) was adapted to create an Interdependence Progi'amme to increAse our l'each by supporting yoiing people in the wider leaving care services of two l.A%. This approach rniiyoi's the House Project apprudcll stsppotting young people 10 develop new skills and take thcii. fii'%t sieps toward livsng on their own, while building relathonships, Imaking friends and creating positiye commulllty ai.ound thein. The House Pi'oject Pro"amIne (HPP) and Outcoilles and Leai'nin8 Fratnework (OLF) which guide LHP staff and support young people to develop skills. knowledge and confidence continues to be well received by both LHP staff and young people. A total of 6,158 (AQAISQA) certificates liave been awai'ded to young people. Once young people have moved into their homes, they can a¢c¢ss our Aspirational Awards by applying for fundittg to achieve their dreams and aspirations and start careers. These purposeful activities led to 730/0 of all of our young people being in Education, Employment oi. Training (Englisl) av¢i'age 54/0). Page 3
The National House Project CIO Trustees, Report (continued) Acliievemeiits and pei'fvi-ni3Jice (COTLtiMiied) We are deeply coiiiinittcd to being a learning oJ'gani5gition and in September 2024 we coinin¢nced oui. woi'k as £1 Deinojistiztoi. 8itc with IMPACT (Improviiig Adult Care Together) led by BiriningTh<ltn Univeisity to ClEate an evidtiice infoi'med probaMIe to develop Ic n appi'oach to suppoi'ling caiE leaver5 living 11) the coinmunity. During the yeai., tli¢ Exit Evaluatioii IWaJTrvick Business School) and two acadtmic papers (Cainbridge University and Royal Holloway UIiiversity} have been published, C,LNM IEporled on progi'ess against their 2023 JecoininendatiODS t)t theii. Annual Conference in Noveinbei. ?024 dnd a small Ruiiibei. of youtTrg people ndeilook Peei. Research iiitts the impact of CLNM on yolIg people, the House Pi'oject appi'oach aiid the wider systein. The collective leai'ning bliilds a positive narrk)live about yoiing people, IhEii' value, and the ways in which the approach can botli provide the scaffolditjg to enable them to succeed and provide the leai'ning to deliver systemic change within the sectoi.. We iEceived positive responses to oiir annual s&tssfaction sui'vey of both NHP and LHP staff, our work continues to be positively higlilighted by ofsted who inspect LA provision for care leavers. CLNM w&s recognised in the 'Politic% and Acliv151n' category of the Big Issue Changeniaker Awards, East Dunbartonshire and Midlothian LHPS were recogni5ed with &ward5 froin Who Cares? Scotland and Islinoton LHP was iecognised by ihe London liinovation and Impi'ovemellt Alliance. We coi)tii)ue to develop oiir pi'escnce tlirougli a I'aiige of a¢tivities wliei'e we share evaluation findings and best pi'a¢tice, en8a%e with the LAS through regional and natinnal foyums and share infoitnation with GDven)ment Depaitment5 (DFE, MHLL6, Welsh Govt and Thc Pi'omise). We have attended a numbei. of events ar]d ¢onfeiEnces aci'oss the UK and contributed to the Relational Social work podcasL AII LAS (except for Islitigton ad Oxfordshirel commissiort their psychological services from NHP. The iinpt'oyed tTaiiiiiig offer for LHP staff has been well IEceived aiid 17 members of staff &chieved tlie bespoke CPD Social Pedagogy Practitioncr Awai'd and a furthei. 20 have enrolled on the next cohort. Ofsted began regasfering suppoiled accommodation providers for 16 and 17-yeai'_olds itE 2023. NHP has worked in collaboration with LHPS (England) to support and conrt¢ct Ihem with oiliers throughout the process of registration and beyoi)d. In Janiiaiy 2025, changes were inade to CLNM to both i'eflect the growth of theii. coinillunity and to respond to feedback about tsEvel and the number of meetings taking place, CLNM now attend five regional meeiings in the North, Midlands, and South legions. 'fheir expert by experience status aligned with the fi'amework of support has undoubtedly been a factor in Lhe it]cre3sed number of consultalions that have been delivered, contributing to widei. system chang¢. CLNM hosted their annual conference Noveinber with a foclls of 'Developing Dllfction,. This yeai. our fundraisllk¥ Was underlaken by Vanrage who provide bid wi'lting ¢apacity and capabili(y io support the NHP IElatiollal dpproach to grant makers and major donois. We also ran two ¢oinmunity fviidi"aising events., Chester Half Marathon May and Edinburgh Kilt Walk in Septeinber. In suminary this past year ha5 been one of BrOh and iEcognition. We Enoyed tnto a vibranl new office Space, welcoined new talent to our teain, foi'ined exciting new p&rtsieTships, and continued to evolve as a learning orgtinisation. National awards a¢knowledged our work. biit oui. pJx)udest achievements rein8in the deep. authentic I'elationships we've built and the sense of belonging that define5 eveiything we do. Page 4
'rhe National House Project CIO Trustee5' Report (eontillued) Fiiiaiicial review Dyi'iiig the yeai. the Charity receivc(I granls ai)d doi)ations totalling £559,288 (2024 £330,571). Incoine fi'oin pi'ovÉdii)g its ch'table activilics tolalled £721,427 (2024 £669,917), of which 97.50/• related to Inembeiship and continuatEon fees aiid pi'ovisioi) of speLialist suppoi't to LHPS. Costs for the yeai. totalled £1,113,471 (2024- £1,186,769) witli the inain costs being wages and consLiltancy fees to evaluate and Support tl)e projects. Net assets of the Charity at 31 March 2025 iotgtlled £543,633 {2024 £369,069), of which £6.517 (2024 £36,131) was IEstrieted foi. specific purposes as sei out ill Trlote 17. Principal risks and unc¢rlainlies The trst¢t$ i"egularly review the key I'isks faced by the Charity. the establishjneiit of systems and procedures to addre55 those potential risks and Ixitigate any iinpact on tlie charity if they Inatci'ialise. Policy uii reJ'erves The Charity is coininitted to ensui'ing that it retains the financial reserves to suppoit all ytsiing people, ciirrcntly engaged in LHPS. into their f113t lioine in a pl&iiiied and Ineasured way. It takes around a year to engage, suppoit and Inove young peopl¢ into theii. hoines, Thei'efore, tii]5tees have set the Charity's uiirestri¢ted resei'ves to a total of eight months core operdtional costs for the year 2025126 this would be a reserve of £616,000. Total oharitable reseTV¢S at 31 March 2025 £543,633, which include restricted reserves of £6,517 for Construction burs&ries to be awarded. Uni'estricted Tes¢rves total £537,116. The 'frustees desigrtate remaining unrestricted reserves to enable the Charity 10 delivei. its cominith)ents for membership services, SElPPOI'I and continuation of its ongoing project5 that are in progress at any point in time and are expected to be used within the following 12 months. The Charity invoices Local Authoritie5 anniially in MarchlApi'il for delivering the service in that fiT)anGial yeai. and thei'elore has sufficient funds available to provide those contractual obligati0115 for the coining 12 Jnonths. Where invoiced befoTe the year end, this income is included in defei'red incoine alld totals £1 $1,202 at the 31 Maich 2025. In addition funds are iaised fyoin a variety of Tiusts, foundations, businesses and individuals to eiiable additional projects to be delivered and to suppoit the general running costs of the Charity. The Trustees continue to foi'ecast for (he COEning financial year to ensure there al'e sutTicient unresiricted reserves to operate and deliver the Charity's coininitinents. The Trustees are confident that the policy meets Chai'ity Commission guidance. Page 5
Tlie Natii)nal Il<)ii$c lJr()ject CIO I'rustees, IILPOI't (coutillued) Plan5 for fiiture periods Yoijng pcnplc tcll us tl)at I,ocal Floustt PJx)jeets work foi. thein, and this is suppoited by atj increa5i]ig body or Lvidoiice-based pi'actice, Nl.Il' 1% ihcrLfore con)n)itted lo incrcasB IL4 1'Lach to young people either by e8lablishing new LAS {22 to 27) or scaling (lie ivork within LAS over thL n¢xl 12 nionilis so that n)ore young pLoI?Ic bail join LHPS (930 to 121)0) or ihal Ihe psycl)ologically informed prablicc fi'ainework is flexed to enablc a wholc system offer to young people Icaving care. A% organisatioi) we set oiit to 511PPOrt young people io leave Cdr¥ w¢ll willi the l)elitf that a plaIled aTrd suppurted transition would create 8 saf¢ and secure base from which io explo. thL adult world. Our practice framrwork 1% very much focused on thi8 and whilst staff in LHPS have also been %upportiiig young people once they have moved into their owii homes in ihL Luininunily. thib b¢¢ii without d pra¢Éice fi'at]ieworli rooted in praGtice-bd%cd evidence, With Imore young p¢ople living in theit homes than WOL"kiiig lowards Iiavitsig their home, we will us¢ tIAe fAndings alld r¢commgndalions froin both the Peei. Evaluation oil Inlcrd¢ptndcnce artd the IMPACT study to crthanc¥ our praGti¢e franiEwDrk to guide siaff oi) how tfl siippoI1 youjig pttople in the Lommlinity. With tymcrgenl re(IUllL'ment8 from slatutory atLd rcguldtory bodies to siipport ¢ar¥ leavor% living in the ¢onununity w¢ will shar¢ oiir work with the s¢rtor to SllPPQrt sy.5tniC ¢hanEe. W¢ will develop oui" Emotional Flealth and Wellbeing offer to young piopl¢ by developing eXrtIse within NNP ld wc will continue to support slaff with il)e Social Pedagogy PKactitlOllLr Award and introduce an accredited LeadLrship Award for Project L,ead %taff that lEcOliS£S tlieii hybrid stratcgic-npcrational management role. With thL retirement of the fouiider Dircuoi', we will repurpose sellior management with ihe creation of two Directoi role5, onc for Pi'actice and oiie for Parliieiships. The latter recogmises oiw evolution as dll orgaiiisatiotl aiid the need to 61iiig in capacity and capability to cfevLlop our engagement with corporatL and bliS£s5 partners. This will prtsvidc opporllliiities and experiences that dLv¢lop secure pathways for young peopl¢ ii)lo thc world of education, etnployinciil, and trainin& provide resou&8 to I,I.IP% and generate a new income streani forNHP. NHP will ¢ontiniie to SllPPDrt C.I,NM to P05ilively tiig(Jge youn8 people so that thc user voi¢¢ rcni¢lin% LLiilral to our plaiiiiing aiid polivy. CLNM will deliver on tlie Peer Eiyalualioii I'ecominei)datioii% froni 2025, dLTrilop a CLNM Alullmi off¥r 8upport thL dovLlopmenl of an eiihan¢e(I pra¢li¥¢ Iruii)cwork. Diselosure of infurtnstinn to audltor "'ach trustee lias taken stLps that they ouglit to hav¢ lakcn trustee in order to mak¢ thenis¢lv&s wai'¢ of ally Ir1ev*t auitit infomation dnd to establigh that the uliarity'5 audi(or 1.% aware of that informalion. 'I'h¢ trusl¢¢s oiifirm diat th¢r¢ is no relevanl information that th¥y know ofand of whicli they know the auditoi. is unaware. Tlie alliiBal r¢t)ort was approved by thL ts"uslee¥ of the ¢harily on )3 l.i. aiid ii8iied on it% behalf by.. M A lJ¢ith Chairman and tTU.yIttL' Page 6
The National Hoiise Project CIO ,8tatcTn¢Dt i)f Th'ustees, Ilespoiisibilitie8 The trustees are responsiblc for preparing IhL truslees, reporl diid the financial 8iat¢m¢nt% in accordaThcL with ihe United Kingdoni Accouiiting Standai'd% (lJiiited Kingdoin (ittncrally ALCL'Pted Aceoui)tiiig PraLIicL) aiid applicable law and regulatiOllS. I'he law applicable to charities requires the tiu4tLb% to prepdfG finaiici&l stdlem¢tJts for eaLh fiiianLial yLa¥ which give a trlle aiid fair vi6w of the state of aftatr% of the Lharity atld of the inLominE r&%ourLeb aiid applicution of rtt8ouree% of tlie charity for that period. In prcparing tliese stalL'inLnl%, the IruslLe8 arL' rcquired to.. seleLI SUltabl¢ alntIl1& polibieb anil thbn apply them Lonsi.stLnily,' ob8erv¢ the niethods aiid principles iii the ChaJ'iti¢s SORP. iTrake judgemeiils and es(irna(es that aie rea50nable aiid prudent., stalti wheiher applicable accountllig standards have been lollowed, subject to any material departtires di5¢1o.sed dnd explained in tl)e fthancial slatenients,. aiid prepare the financial statements on the going Concern basis unless it is inappropi'iate to presume that the charity will Lontinue in busiiicss. The tru5tee5 ait rt5pon5ibl6 for kevping propttr acLounting rec(krds that disclose with rea%on2ble accuracy at }Y time the finanuial positioii of th¢ charity and ¢iiable Ui¢&n Io uii8ur¢ that th¢ fanCial statemenL4 comply witli thL Chatili¢s Act 2011, the Charities (AcioLJnls and Ileports) Regulalion% 2008, Ll)ariti¢s and 'fru.4iee Itiv¢stsnent (Scollaiid) Act 2005, the Charity Accounts (Scotland) Regulations 20116 (as am¢ndeLI) and the piovisions of lh¥ ¢onstitution. I'he tru5tce% al'e also r¢sponsible for 8af¢giiarding the assets OE the cliarity and lieii¢¢ for takiiig reasoi)at>l¢ 5t¢Ps for thE pi'¢v¢iition and detection of fraud aiid other [egUlarlties. The trustees are responbible for the nlainleinLc aiid intewily ol th¢ corporate ld fancial inforination included oil the Charitable compaiiy's website. Legislation goveining the prepai'ation and disseminatioj) of fancial st&lLinents mdy differ fron) legislation in other jui"isdictions. AppiDved by d)e trustees of the chority on Z). and %iguLd i)n its behalf by.. M A l.ekth Chairmaii dnd iru8tee PagE 7
Th¢ National House Project CIO Independent Auditor's Ileport to the Members of The National House ProjeL't CIO Opiiiio WL hdve aiidited tlie filnClaI stskteinents of The National House PiY)je¢t CIO (the'chai'ity) for tlie yeai. ended 31 March 2025, which coinprise tl)e StatenicTrt of Financial Activities, Balance 8heei, Cash Flow St&teJnent, aiid Notcs to the Financial Stateinents. iiicluding a suJnillaFy of significant a¢couftiing policies. The fJnai)cEal IEPOItiTLg fraineivoi'k that ha% been appliod in theii- prepai'ation 15 United Kingdom AccouDtiiig StandaTd5, omprising Chai'ities SORP - FRS 102 'The Fiiiancial Repoitii)g Staiidard appliLable in ihe UK aiid Republic of IIEland' and applicable law Iuiiited Kingdoin Geiiei'ally Accepted A¢counting Piactice). In oui. opinioll the financial statements: give a triie and fail. view of the state of the charity's affairs 85 at 3 I Marcli 2025 and of its incoining lesoueS and application of resources, including its ipcome and expenditure, for thc ycar then ended: have been properly prepared in accordance with United Kingdom Geiierally Accepted Accounling Pra¢tic¢,' and have been prepared in accordance with the requiremenis of the Charities Act 201 1, Chai'ities and Trustee Investineiit (Scotland) Act 2005 and the Charities Accounts {Scotland) Regiilations 2006 las amended). BASIS for opinion We conducted oui. audit in accordance wilh Intei'natlDnal Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibililieb under those standards are further described it] the aiiditor I'esponsibilities for the audit of th¢ financial 5tatementS S¢ftiDn of our I'eport. We aie iiidependent of the chai'ity in accoixlan¢e with the ethical i'equireinents that are relevant to oiir audit of the financial statements in the UK, including the FRC'S Ethical Standard, k)nd we have fLilfilled our other ethical responsibilities in accordance with these requi¥einent5. We believe that the audit evidence we have obtained is sufficient aiJd appi'opi'iate lo provide a basis for oui. opinion. Conclusion5 relatlAg lo goillg coneern In audifing the financial Statements, we have concluded that the tiitstees use of the going concern basi5 of accounting in the PiEP3Tation of the financial 51aleinEnls is apprOprate. Based on the WQTk we have perforined, we have not identified any ale1"1] uncei'tainties relating to events or conditions that, individually Dr ¢ollectively, Inay cast SI1fICatIE doubt on the charily's ability to ooniinue as a going conceri) foi. a pei'iod of at least twelve imoiiths from when the original financial statements were authorised foi issue. Oui. respot]sibilities and the responsibilities of the trustees With respeci to going concern are described in the relevant sections of this report. Page 8
Tlie NAtionAI House Pi'ojeet CIO Independent Auditor's Report to the Members of The National House l)roje¢t CIO (coDtillued) Othei. informalioii l-he trustces are I'esw)nsible for the otlier iiifoi'tnation. The othei. infonnatioii coinpi'ises the infonnation included in the annual repoi't, otlier tlian the fiiiancial stateinents ai)d our auditor's report thereon. Our opinion on the financial %tatenients does not cover the othei. inforniation aiid. except ti) the extent oihei'wise explicitly stated in our I'eporl, we do not express any forni of ass1112t]ce concliision Ihereon. In connection with our audit oc the financial 5tatetTrenis, our responsibility is to read the other infoi'mation artd, in doing so, consider whether the other infornialion is inaiei'ially inconsistent witli the fiiiancial stateinents or oui. knowledge obtained in the ftudit oi. otheiTrvise appears to be iiiatei'ially inisstated. If we identify siich Inaterial incoii$istenci¥s or appai'Erit matei'ial misstatcments, we aiE Icquircd 10 detei'mine whether tliei'e is a materi31 iiiisstateiiient in the fiiiaiic5al statcn)ent5 01. a matei'ial inisstaicincnt of Lhe oihei. inforinatioii. If, based on th¢ WL)rk we have perEoiined, we conclude that there 15 a material misstatement of this other infonnation, we are reqiiired to i'eport that fact. M2tters oil which Ive are requtred to i'cport by e%ceptioai 111 Ilie liglit of our knoivledge and iinde13tanding of ihe chai'ity and its environment obtained in the coui's¢ of tlie audil, we have noi identified material Inisstaleinents in Ihe Triistees, Report. We have nothing to report in r¢spect of the following matters ielatioo to thic th¢ Charities (Accounts and Repoits) Regulations 2008 and ihe Charitie5 Accounts (Scotland) Regulations 2006 require us to repoit to you if. in our opinion.. the information given in the Trustees, report is inconsistent in any inaterial respect with the fancial stateinents. or proper and SLiffi¢ient accounting records have not been kept: or the financial statements are not in agreement with the accounting records and retiii'n5' or we have not received all tlie infoj'illation and explanations we require for ou¥ alidit. Responsfftbilities of trustees As explained inore fiElly in the Statement of Trustees, Responsibilities (set out on page 7), the trustees are I'esponsible for the pi'ep2ration of the fiiiancial statements and for bcing satisfied that they give a true and fair view. and for such intem&l control as the tr11stees detennine is necessary to enable the pFepar&tion of financial siatements thal are free froin material Inisstatetnent, wliethei. due to fraud or error, In prepai'ing the fancial statements, the trLiStees are responsible for assessing the charity's ability to COntnI1t as a going concei"n, disclosing, as applicable, matteTS relaled to going concern and using the going conccrn basis of accounting unless the trustees either intend to liquidate the charity or io cease operati0115, or have no realistic aliei'native but to do so. Page 9
The National House l)roject CIO Independent Auditor's Ilepoi't to the Members of Thc National House Project CIO (continued) Audltor R¢sponsibilrtie5 for the audit of the financial stateineiits We have been appoiiited as aiidiior under section 144 of the ChaTlties Aet 2011 and section 44(1 l(c) of the Charities and Trustee Inve5ttnent (Scotlandl Acl 2005 aiid i'eport in accordance with th¢ Act and ielevailt regulations Inade oi. haviiig effe¢t tlieyeunder. Oiii. obj¢¢tives are to obtaEn reasonable assurance about whether the financial stateinents as a whole are free fiDln inaterial Inisstateinent, whethei. due to fraud or ei'ror, and to issue an auditor'5 report that includes our opinion. Reasonable assui'ance is a high level of assui'ance, but l5 tiot a guaiantee that an audit conducted in ac¢ordance with ISAS (UK) will always detect a material mi55tateinEnt when it Exists. Misstatements cali 'ISe fi'om fi7ud or erior and al'e cojisidejed material if, individually or itl tlie aggregatc, thcy could reasonably be expected to intluenre Ilie econoinic dtcisioiis of usei's taken on tlic basis of theye financial stateinci)ts. The extellL to which our procedures al'e capable of detecting irregularities. including fi'aud is detailed below.. We obtained an understanding of the legal regulatoiy ftaineworks that are applicable to this charity and its sector and deterinined that the most sigTrificaiit aie those relating to the reporting fi'amewoi'k and the relevant UK tax legislation. We undeistood how the chariry is ¢oinplying with those frameworks by Inaking enqiiiries of Inanagcillent and those responsible for legal and compliance procedui'6s. As audit engagement tean). we assessed the suscepiibility of the charity's finatlcial statemei)ts to Inatei'ial In5S5tateinent including how fraud might occur and considered the opportunities and incentives that Inay exist within the ¢hai'ity for fraud. We Considered the coiitrols thai the charity has established to address the risks identified to pi'event, deter and delect fraud- and how the mai)ageinent and tl'U5tees imonitor those coniiols. Based on our underst&nding wt designed oiij. audit procedures to identify non-compliance with laws and regulations. Those proceduie5 involved.. enquiries of management and those charged wilh govemaiice. joui'nal entry testing. assessing wh¢th¢r jiidgcinents in making accounting estimate5 ure indicative of a potential bias,. review of financial statement di8closuies and testing to siipporting docuinentaiion to assess cotnplianc6 Wlth applicable laws and regulations,. ?nd evaluating the business rationale of any signifioqnt tt'ansactions thai are unusual oi. outside the normal course of business. Wheie the risk was considered to be higher, we peifomied audit pro¢eduiES to address eacli identified fraud risk or othei. risk of material inisstateinent. These proced1¢5 ii)clllded I'evenue i'ecognition and testing mai)ual joui'nals and wei'e designed to provide Feasonable assuran¢e that the financial statements were free fi'om fraud or eiyor. We r¢inain¢d alert to any indications of fi'aud or non-¢oinpliLnce with laws and regulations throughout the audit. Because of the inhereiit limitatioiis of an audit, thcre is a risk that we will not detect all iri'egularilies, including those leading to 3 inaterial misstatejnenl in the financial ststeiDents or notl-coinpliance with regulation. This risk incieases the Inore that coinpliance with a law oi. regulation is reinoved froIn the ¢vents and tran5attions reflected in the financial statement5, as we will be less likely to become awaie of instance5 of non-compliance. The I'isk is olso gieater regai'ding ii'iegularities occurring due to fraud rather than error, as fi.aud involves intentional concealmenl. forgery, collusion, omissioii oi. In1spi.cSCnlatIo. A further description of our rESPOnSibilitseq is available on the FÉnancial Reporting Council's website at- www.frc.oi'g.uklauditoiEI'Espon5ibiliii¢s. Tliis descripiion foi'ms part of our auditOf'S i'eptsll. Page 10
I'lle National House Pi-oject CIO Independent Auditor's Repoi't tu the Members of The National House Pro.jcct CIO (Continued) Use of our report This report is tnade solely to Ihe charity trusteeg, as a body. iii accordance with section 144 of thc Chai'ilie5 Act 2011 and regiilation5 Inade linder sectioll 154 of ihat Act and Regulation 10 of the 2006 Accounts Regiilations. Oiii. audit woi'k has been iiiidei'laken so that we i))igh( state to tlie It'ustees those In&iiers we are required to slate to lIS[eeS iii an auditors, report and for no (Ithcr pui"pose. To the fullest extent pennitted by law, wc do not accept or assume responsibility io anyone otliei. than (he charity aiid tts tti]stees as a body, foi. our aiidit work, for this i'eport, or for the opinions we have foi'med. CÉSL L"kncJ CBSL Accouiitants Liinited {Slaliitoiy Auditoi.) Roivmn l-louse North l Tlie Prtsfessional Quartei. Shi'ewsbtiiy Biisiness Park Shirwsbuiy Shrop5hire SY2 6LG Date.. 23 OdDbo$ 2ol¥ CBSL A¢¢0tantS Liinited is eligible foi. appointment as auditor of ÉtLe charity by virtue of its eligibility for appointment a5 auditoi. of a eoinpany under section 1212 of the Companies Act 2006. Page 11
The National House Project CIO Statemei)t of Financial Activities for the Yeai. Ei nded 31 March 2025 Unresli'ictcd fuiids Restricted Totgl 2025 NDte In¢ome and EndDwments fi-om., Doiiations, leg<i¢ies and El'aiils Chai'itable activities Investment income Other income 501.757 721,427 5,787 1,533 57,531 559,288 721,427 5.787 1,533 Total income 1,230,504 57,531 1,288.035 xpenditure on.. Raising fund5 Charitable di¢tivities (38.389) (980,956) (38,389) 11,075,082) (94.1261 Total expenditure (1.019,345) (94,126) Net incomel{expeiTrdilui'e) Gl'oss ti-aiisrei's between fuiids {36,595) 6,981 174,564 (6,981) Net movement in fuDds 204,178 (29.6141 174,5 Reconeiliation of fund5 Total funds broiight foiTrvard 332,938 36,131 369,069 Total fiinds carried forwai.d 17 537,116 6.517 543,633 l-he notes on p3ges 16 to 31 form an integral part of these financial statements. Page 12
The NatllonAI HousL Projeet CIO Statement of Fin2neial Activities for the Year Ended 31 March 2025 (eontinued) Unrestricted fuiids Resli'icted flltids Total 2024 Note Ineomt Mnd Cndowmeiits fi'om: Doiiations, lega¢ies and grants Charitable a¢Éiviti¢s lJ)veshnent iiicome Other income 280.571 620,718 6,834 1,250 50,000 49.199 330,571 669,917 6,834 1,250 Total incoin¢ 909,373 99,199 1,008,572 Expenditui'e on: Raising funds Charitable activities (55.062) {1.022,485) (55,062) {1,131,7071 (109,222 Total expenditure {1,077,547) 1109,222) 11,186,769) Net expenditure 1168,174) 110,023} 1178.197) Net illoveilleni in fynds (168,1741 (10,023> 1178,197) ReLoneiliation of funds Total fullds brought IoTward 501,112 46,154 547,266 Total funds cari'ied fonvard 17 232,938 36,131 369,069 All of the ch'ity'S activities derive fi'oin continuing operations during the above ttvo periods. The fijftds breakdown for 2025 and 2024 is shown in note 17. The notes on pages 16 to 31 forin an integi'al part of these financial statements. Page 13
The Natitrnal l.Ivii,$c l>riijett CIO (Ilegistration nuber. 117)( 743) BalanL¢ Sheet a8 at 31 March 2025 2025 2024 Note ixed as.iets n1@ible assets 'I'angible ass¢ts 12 4,720 5,632 4,720 9,532 Ciiri'tnÉ A.4sets Debtors Cash dt bd5Jk and in h&nd 14 -741,4112 477,187 348,367 388,330 778,589 736,697 (377,160) Creditors.. Amounls falliDg due )vithin one year 16 {239,676) Not eurrent assets S38,913 359,537 Net asstts 543,633 369,OCI9 Funds of the eharity: Il¢slrict¢d iiicomc flind.% Rtstri¢ted fiiiids 17 6,517 36,131 Unre5trictcd iii¢tsme funds Unrestricted fund% 537,116 332,938 17 543.633 369,069 ancial NtatLmeiits oil pagcs 12 to 31 were approved by the trustees, and authori.%ed foi. issue 011 and signed 011 their be[l[Y'. .(.0. M A Leitl) L'hairmaii aiid Ii'ust¢o I'he nDt¥s on pages 16 to 31 foTni dn inttgral part of these Fiii4inLial .8taten)ents. Page 14
The National HOUSL Projeet CIO Cash Flow Statement for the Year Ei ndcd 31 March 2025 2025 2024 Note Cash flows from uperatlii¥ activities Nel rash £ncoinel(expcnditure) 174,564 1178,197) Adjustments t(k Cash floiys from non-cu5h items Depjeciation Amortisaiion IiivestTnetEt Income Loss on disposjl orrixed assets held ft>i' the charity's owii lise 2,375 3,900 (5,787) 207 2,172 5.200 {6,834) 10 175.259 (177,659} Working eapit?19djustments Decitas&lincrease) in debtors (Deci'eas6VinciEase in crediLoTS De¢rea%e deferred ineoine 14 16 6,965 116,148) (121.336) (83,S82) 29,919 {49,1661 Net cash flows from operating activities Cash flows from iEive5ting aetivilies Interest re¢eivable and s]lIar income Purchase of tangible fixed aysets Sale of tangible fixed assets Net cash flows fi'om investing activities Net increasel(decreasel in cash and Cash equivalents Cash and c3sh equivalents at l April Cash and ¢a5h equivalents at 31 Mai'ch 44,740 280,788 5,787 (1,669) 6,834 (1,906) 13 4,928 48,857 {275,860) 388,330 664,190 437,187 388,330 All of the cash flows are derived froin continuing operatiotts during the above two periods. The notes on pages 16 to 31 form all Inte1 parl of these financial stattinents. Page 15
Tlje National House Project CIO Notes to the Fin#ncial Statements for the Year Endld 31 Mai'ch 2025 Ac¢ountlng pollcies StateffleTIt of ¢omplixnce Tlie fin1claI statements have been prepared in accordat]ce with Accounting and Repoi'lillg by Charities.. Stateiiieiit of Recoimixeiided P¥actice appli¢able to charities prepariiig their accounts in accoi'dai)ce with the FiiTrancial Reporting Standai'd applicable ii) the UK and Republic of Ireland IFRS 102) (effective l JanLiary 2019) - (Charities SORP (FRS 102)), the Fiiiancial Reporting Standard applicable in the UK and Republic of Ireland (Fks 102) and the Chai'i(ies Act 2011. Basis of prep#i*tioii The Natioiial House Pi'oject CIO meets the definition of a piiblic benefit entity utjdei FRS 102. The accounts {rinaiicial stateinents) have been pirpared undei. Ihe histoi'ical cost convention with iten15 iecognised at cost or transaction value nIes8 otherwisc stated in the relevant note(sl to these accounts. Goiiig coiicerii The ti'ustees considei. tliat there are no material unGet1ainties aboui the chai'ity's ability to continue as a going oncertl. Jlldgements and critical sceounting ebfitnates In tlic application of th¢ Chai"iry's accountit]g policies, the Trustees air I'tquÉred to make judgeinents, estimates and assutnptions about the tai'rying amoiint of assets and liabilities that are not IEadily apparent from other sources. The estimates and absociated assllinptions al'e based on histOTical experience and other factors that are considered to be relevant. Aeiual results tnay differ from these estimates. Ineoine and endowments Voliintary inCDine including don<ltion5, gifis, legacies and grants that p¥ovidE core funding or al'e of a general nature is i'ecognEsed when th¢ chai'ity has entitlement to the income. it is probable that the in¢oine will be received 2nd the ainount ¢an be inEasured with suffieieni reliability. Doiiuillln5 legncies Donations and legacies are recognised on a receivable basis when i'eceipt is probable and the atnount cati be reliably Inea5ured. Groiils reeeivllble Giants are recognised wheii the charity has an entitleinent to the funds and any condstiot15 linked 10 the grants have bcen mel. Where perfoiinance condit10115 are attached to the grani and are yet to be inet, the incoille 15 recognised as a liability and included on tlie balance shcet as deferi'ed incon)e to be reloased. Deferred iiieoiiie Deferr¢d income represenis amounts ieceived for futUT¢ period5 and is released to incoming resouices in the period for which, it has been i'ecEived. Such ii)come 15 only defErred when.. Tlie donor spwifies that the grant oi. donation Inust only be used in futur¢ accoiinting periods. i)r The dL)noi' ha5 imposed CODdEtion5 which must be Inet before the charity has unconditional en¢iileinent. Page 16
The National House Pi'oject CIO Notes to the Finaneial Statements for the Year Ei nded 31 March 2025 (continued) Gifi Incomirjg iesoui.ces fi'oin tax retlaiiMs are included in the Stateinent of Financial Activities at the satne tiine as Ihe gift to wliich they I'elate. Jiive.51ItriEili liieoiiie Interest oil fiinds held d¢posit is included wliell IEc¢ivable and the aittouiit can be iiieasui.ed I'eliably by the chai'tty. Clillriinble uclivilies -Che charily receives grant inloine which is recognised when the chaTity has entitl¢ment to the ndS and any conditions liiiked to th¢ gidnts liave beei) mei. Where perfonn2nce related enndilions are attached io the grant and are yet to be met, (l)e incoine Is JEcognised as a liability aiid included 011 the bolance sheet as deferred iiicotne to be released. Expenditure All expendittire is recogni5ed once thei'e is a Icgal or con8triictive obligatloll to that expeiidEtuiE, li is pi-obable stttleinent S I'equii'ed aiid Ihe aii)ouiit can be measured rellably. All costs ar¢ allo¢ated to Ihe applicable expendituie heading that aggregate siiiiilar costs to Ihai categoiy. Where costs cannot be directly attributed to paiticula¥ headings they have been allocatcd on a basis consistent with the iise of resouire5, Wlth Lenlral staff costs alSocated on the basis of time spent, and dcpiEciation charges allocated oil the portion of the asset's use. Othei. support costs are allocated based on the spread of staff Costs. Rai5iii¥fund.s Ttiese are costs inclli'reo in attracting Yoluntary incoine. tht manageinent of lnvesknnets and those in¢ui'red in trading aciiviiies tliat i'aise funds. Clirtrllable uclivilies Charitable expcndEtiiie colpriseS those costs incurred by th¢ chai'ity in the delivery of its activities and se¥vice5 for its beneficiaries. It includes botli costs that can be allo¢ated diiEcily to such activities and those Costs of an indirect iiature Deoessary to support thetn. Gruiilprovisioiis Provisions for gtant5 are made when the in(ention to make a gixnt has been cominiii)icated to the recipient but thei'e is uncertainly about either th¢ timing of the grant or the atnount of gyant payable. Support eosts Suppor( costs include central functions and have been allocated tts activity cost ¢ate8ories on a basis consistent wEth the use of resources. Govern&n£¢ ¢osts These include the costs attributable to th¢ charity's compliance with consiitulional and Statutory requii'ements, includii)g audit. strategic Inanagement and tNstees Ine¢tit]gs and reimbursed expen8es. Page 17
The National Ilouse Project CIO Notes to the Fingz]CiAI Statemen1$ for the Year li ndc(131 March 2025 (continued) Taxatio The Lliai'ity is considei'ed to pass the test5 set out ill Paiagrdpli I Schedule 6 of the Finance Act 2010 and therefore il ineets the detinition of a charitable coii)pany for UIC corporation lax puJ'p05es. Accoi'dingly, the ¢lia¥ity is poteiitially exempt froin tax3tion in respect of incoine or capital gains t'eceived wiihin categories oyered by Chapter 2 1)art I l of the Coi'poration Tax Act 201 O oi. Section 256 of tlie 'faxation of Chargeable Gains Act 1992, lo tlie extent ihai such income OT gdll)s att appli¢d exclusively to chal'itable purposes. Intangible 855et5 Intangible assets are slated in the Balance Sheet It cost less a¢cumii12ted amoitisation and lipa]nnellt. They air amorti%d on a sti?ight lille basis over their estimated usethl lives. Tgngible tlxed assets Individual fixed assets costing £100 or more al'e initially iEcorded at cost, less any subsequeiit accumulated dcpreciation and subsequent accuinulated iinpairment losses. Amortisation An)orlisation is pJx)vided on intangible fixed setS so as to write off the ¢05t, less any esti10ted residivdl value. ovei- theii. expected iiseful econoinic life as fvllows.. Asset class Onlin¢ leai.ning platfor Amoi'tisation method r&tc 2(V/o StraigJt lille Depreeialion and amortisation Depreciation is pi'ovided on tangible fixed assets so as to write off the cost oi. valuatioii, le&g any esÈirnated residual valLie, ovei. tlieii. expected useful econoinic life as follow5.. A85et class Ol¢e equipiiient Deprecialioii method and rate 200/0 Straight Sine Inlangible a55ets Intangible assets relates to costs for the developlent of the Charitys onli¢ learning platform, which has been kpiialised as it will be used over subscqueRI periods. The COSL is amortised over it5 expected use1 lif¢ to (he Charity and carrying value ¥eviewed annually for iinpaii'in¢nt. Trade debtoi Trade debtDf5 are ainollnts due from cu5toiners for merchandis¢ 501d or services pei'foimed in the oiyiinary course of busiriess. Trade debtor5 ale iecogtli5ed initially at the tFansa¢tion price. They atE subsequemtly tnea5uied at amortised cost using the effective interest Ineihod, less provisioii foi. iinpairiknent. A provision for the imp&ii'Jnent of trade debtoi's is established when thei'e is objective Evidence that th¢ charity will not be able to collect all amounts due ac¢ordin8 to the oi'igsnal terms of the receivables. Page 18
Thc NationAI House Projeet CIO Notes to the Financial Statements for thc Year Ended 31 MArch 2025 (continued) riiiijd sti'uctui Unrestricted ilicoine funds aiE geneial fiinds that are available for use at tlie ttiistees di5cI'etion in rthelnCe of the objectives of tlie cliarity. Designated incol¢ fiJi)d5 81r designated by the l¥USte¢s to deliver the Charity's coiiiinitrnents for meinbership services. %upporl and contiiiuation of its ongoing pi'ojects and 8¥e expected lo b¢ iised within the coming 12 montlis. Re5tri¢ted Encoine funds are tl)ose donated for use in a particular area or for specific pui'poses, the use of which is restricted (o that area or puipose. Peiisions and other PDSt retirem¢nt obligations The charily opBrates a defined contribution pension scheine which is a pension plan under which fixed contributions are paid into a pension fund and the Lliai'ity h8s no legal oi. con5ti'uctive oblagaiion to pay fijrther ci)nlributions eveIi if the fviid does not hold siifficient assets to pay all employeES the benefits relating to einployee service it] the c[rent and prior periods. ConLI'ibiitions lo defined eonti'ibutioii plans arc reCOlIsed iii the Siateincnt of Finaiicial Activities when tliey ale due. If contribut&on payinents ¢xceed the conti'ibution duc for 5ei'vice, the excess is recogtlised as a prepayment. 2 IEEcome from don¥tions and legaci Unrestrictpd fuDd5 GeTTreral Restricted fund5 Total 2025 t10rtiOnS and lega¢ie5' Donations froin individiials Grants, illcliiding capital grants; Gi"ants fiDm trusts and foundations Income fi'om research grant (consultation) 13.139 531 13.670 483,999 4,619 57,000 540,999 4,619 501,757 57,531 559,288 Unrtstricted fundg Ceneral RestriLted fund5 Total 2024 Donations and legacies- Donations from COLnpanies Donations fi'oin individuals Grants, including capital grants,. Grants froin trusts and fgundations 2,750 12,833 2,750 12,833 264,988 50,000 314,988 280,571 50,000 330,571 Page 19
The National HousL Project CIO Not to the Finaiicial Statements for the Year Ellded 31 March 2025 (continued) 3 1n¢ome fi1 charitable &etivitie5 Unrestrieted fuiids General Total 2025 Total 2024 Local Flouse Pioject developinent aiid delivei'y Meinbership and continuation fees Membership psychology support fees Car¢ l.cavtrs National Movement incoine Workshop delivery (consultation) 51,999 461,709 149,938 6,271 507,820 195,889 787 16,931 507,820 195,889 787 16.931 Total for 2025 721,427 721,427 669,917 Uiirestricted fllnds Cieneral Restricted funds Total fllnds Total foi. 2024 620,718 49,199 669,917 Local House Projeet developinent ad delivery During Èhe prEor year the Charity received funds fron) the Energy Savings Tr(t to support the 'Care L£avers as Energy ChampKons' project. 4 Inve5ÉThent income Utirestricted runds General Total funds In(ere5t i'e¢eivable similai. income., Interest receivable on bank deposits 5,787 5,787 Total for 2025 5,787 5,787 Totsl for 2024 6,834 6.834 Page 20
ThL NatioiiAI HousL Project CIO Notes to the Financial Statements for the Year 1¢ nded 31 March 2025 (continued) S Other incDtne Uiire5tricted fvnd5 CeEiera Total funds Fees ai)d supplies 1.533 1,533 Total for 2025 1,533 1,533 Tot21 for 2024 1,250 1250 oiher income IElates to thnds received for the IMPACT project (2024 - fiiiids received to support the Young Energy Champions Workshops). 6 Analysis of expcnditllre Raising funds expeRditure Costs of gpneratlng don&ti0115 And legacie5 Unrestricted fiinds General Total 2025 Total 2024 Wages and salaries Cufjsiiltancy fees Fund12ising activities 1,305 36,558 526 1,305 30,558 526 44.187 4,196 6.679 38,389 38,389 55,062 21
The National House Project CIO Notes to tlie Finaneial Statcments for the Year Inded 31 March 2025 (continued) 6 Analysis of expenditui'e {continued) Charitable activities expeiiditure Unrestricted f]idS Genei'AI Resti'icted ruitds Totgl 2025 Total 2024 Grants to ii)dividuals Grants to Local House Proje¢ls House PFOjeCt Pl'ograinille costs Wages and salai'ies Coi)sultancy fees, including psychology I'i'Bvel and subsistence AQA I'ek)isti'ation atid ceriifi¢ate5 Cost5 in relatioi) to the Care Leavers National MoveineTht Conference and event cosls Care Leaver Suppoi't Portal Website hosting and support ORCHIDS Performance Framework developinent Leaming event Stoke project Inental health packs Allocated suppoit costs (includin governance cost5) 32,309 28,045 60,354 115,662 2.750 10,684 405,070 8,768 349.199 8,768 414,749 65.550 235,245 6,S85 4.628 235,245 6.885 4.628 221,246 7,334 4,411 42,936 42,936 43,345 14,803 5,256 6.351 2,032 9,646 2,032 9,646 5.584 5,584 531 3,780 531 54 283,724 283,724 290,961 980,956 94,126 1,075 082 1,131.707 Unrestricted runds Gen¢rg1 Restricted fuiids Total funds Total for 2024 1,022,485 109,222 1,131,707 Page 22
Tlie Natiunal House l)rvject CIO Notes to the f4 inancial Statements for thc Ycllr Elided 31 March 2025 (continued), 6 AnAIysis of expenditure (contlllUEd) Suppot't eosts Unrestricted Total 2025 Total 2024 General Wages siid s&laries -rravel and subsi51ence Staff training Consultancy fees Rent and heat and light Insuiance Priiitiiig, postatse and stationery IT costs Office expenses Subscriptions Telephone and internel costs Marketing and PR mdtei'ials Lesal and professional fees HR and recruitment cost5 AccouT]tancy fees Bank fee3 tkpr¢ciation Luss on disposal of fixed &ssets 200,014 5,326 2,547 200,014 5.326 2,547 207,022 6,000 1,274 4,620 12,690 1,960 1,435 4,745 585 1,250 16,931 2,209 1,464 3,751 934 1,692 2,471 5,754 650 16,931 2,209 1,464 3,751 934 1,692 2,471 5.754 650 3,271 1,250 92 6,275 207 5,299 2,650 1,484 1,500 100 7,372 3,271 ,250 92 6.275 207 254,838 254,838 263,137 Governanee costs Unrestrieted funds General Total 2025 Total 2024 Audit fees Audit of the fioancÉal stateiments Consultancy costs Ottiey governance costs 2,675 24,000 2,211 2,675 24,000 2,600 24,000 1,224 28,886 28,886 27.824 Page 23
Tlle National Ilouse Project CIO IYot¢s to the FinanciAI Statements for the Year E4 iided 31 March 2025 (continued) 7 Staff costs The aggregate payL)11 ¢osts wei"e as follows.. 2025 2024 Staff costs during the yeai. were: Wages and salai'ie5 Social security co$is Pension costs 509.582 47,181 59,305 545,200 47,965 63,114 616,068 656,279 The Invnthly avei'age nuinber of person5 {iiiclLidinsT 5eiiior Inan8gement I leadership leain) eJnploy¢d by the cliai'ity during the yeai. expirs5ed as ftjll liiiie eqiiivaleiits was as follows.. 2025 No 2024 No Manageinent DÈrect project management Administration 12 11 (2024- 12) of the employe¢s participated in the Defined Contribution Pension Sch¢Tlle5. Contt'ibutÉons to the employee pension scheilles for the yeai. tolalled £59,305 {2024- £63,114). Pa8¢ 24
The National House Project CIO Notes to tlie fiinaneial Statement5 foj. the Year It nded 31 Mareh 2025 (continued) 7 Still ctbsls (eontinued) The numbei. of employees whose einoliijnents fell within the following band5 was.. 2025 No 2024 No £80.001 £90.00 £ioo,001 £110,000 The total eimployee reinuneration and benefits {excliiding pension contributions) of the key llianageinent personnel of the charity weir £166,000 (2024 - £166,000). 8 Trustees reinuijeration artd expenses No trustees, noi. any persons connected with thEln, have received any iemuneration froin the charity during the ycAr. No trustees have irceived any other benefiis fi'oin the chai'ity during the year. During the year expenses iotalling £92612024 £5001 were reimbui'sed to foul. (2024 two) of the T¥Listee5. 9 Auditors, remuneralSon 2025 2024 Audit of th¢ financial stateEnents 2,675 2.600 10 Net incomingloutgoiThg res0ree$ Net incoiningl(outgoing) resoiii.ces for the yeai. inclLidE: 2025 2024 Audit fee5 Loss on disposal of fixed assets held for the chai'ity's own use Depi'eciation of fixed setS Amortisaiion 2,675 207 2,375 3,900 2,600 2,172 5,200 Page 25
Tlje National House Project CIO Noles to the Financial Statements for the Year Ei nded 31 March 2025 (continued) I I TAXatlon The charity iq a registeitd chai'ity and 15 therefore Exetnpt fi'om taxation. 12 Intangible fixed assets Onlirne portal developmeiit costs Total Cost At l April 2024 26,000 26,OOQ At 31 March 2025 26,000 26,000 Atnortisatioii At l April 2024 Charge for the year 22,100 3,900 22,100 3,900 At 31 Mqrcl) 2025 26,000 26.000 Net book vyluc At 31 March 2025 At 31 March 2024 3,900 3,900 Page 26
The National House Projcet CIO Notes to the IiinalleiAI StAlements for the Year Ended 31 March 2025 (continued) 13 Tangible fixed assets Furniture eqiiipmenl Total Cost At l April 2024 Additions Disposa15 11,419 1.669 (675) 1,669 675) AL 31 March 2025 12.413 12,413 Depreciation At l April 2024 Charge for the yeai. Eliminated on disposa15 5,787 2.375 (469 5,787 2,375 {469) At 31 March 2025 7,693 7,693 Net book valuc At 31 March 2025 4,720 4,720 At 31 March 2024 5,632 5,632 14 Debtor5 2025 2024 Trade debtors Prepaymenis 337,661 3,741 343,913 4,454 341,402 348.367 15 Cash and cash ¢quivalents 2025 2024 Cash at bank 437,187 388,330 Page 27
The National House Project CIO Notes to the Trinaneial Statements for the Year li nded 31 March 2025 (¢ontinued) 16 Creditors: amounts falling due Ivithin oiie yeer 202S 2024 Trade creditoi's Other taxation and s(Kial security VAT gi'ant I'epayabl¢ Oihei. ci'edilors Pension s¢heine Ci'editor Accru&ls Defted incoine 8,244 IQ,503 J3,802 2,247 1,122 2,556 181,202 7,165 9,149 47,435 1,177 7,141 2,555 302,538 239,676 377,160 2025 2024 Defeffed incoine at l April 2024 Resollrces deferred in the period Ainoiints released fi'ojn previous periods Defened in¢oin¢ at year end 302.538 181.202 {302,5381 351,704 252,538 (301.704) 181,202 302,538 Deferred income at 31 March 2025 rtlate5 to membership and psychology fee income invoiced in advance for 5ervi¢es to be delivered during the yeai ended 31 Mairh 2026. Page 28
The National House ProjLct CIO INotes to the FÉnancial Statements for the Year nded 31 Mai'ch 2025 (continued) 17 Fumds Balance at 31 Mai'eli 2025 Balauce at I April 2024 Incoming resoui'ces Resources eXpeded TrAiisfers Unre5tri¢ttd funds Geiier471 UniEStI'icted 332,938 1,230,504 (1,019,345) (6,981) 537,116 Restl-LCteil funds Aspirational Awai.ds Nationwide Coinmunity gi'ant LandAid Consli'iiclion Bursaiy Eveson'frust grant Learning event grani 581 20.000 (27,562) 6,981 23,050 12,500 (23,050) {12,5001 (4831 (30,000) (531) 7.000 30,000 531 6,517 Tot81 restricted funds 36,131 57,531 194.126 6,981 6,517 Total funds 369,069 1,288,035 543,63J Balan¢e ai I April 2023 Intoming resources Resourees expet]ded Balancc at 31 Mai'ch 2024 Unrestricted funds Geiieml Unrestri¢ted 501.112 909,373 (1,077,547} 332,938 Restrleted Aspirational Awards Stoke Ilouse Project Natiopw'ide Cominunity grant Energy Saving5 Trust LandAid 25,000 (24,419) (54) (23.050) {49,199) 112,500) 581 54 46.100 23,050 49,199 25,000 12,500 Total rc$tri¢ted funds 46,154 99,199 (109,222 36,131 Total fullds 547.266 1,008,572 1,186,769) 369,069 Page 29
The National Housc Project CIO Tr4otes to the fiinallcial Statement5 for the Year Ended 31 March 2025 (continued) 17 Fullds (cotIllued) The specific purposes foi. whicli tl)e funds are to be applied are as follows.. Aspii'atioiial Awards - fvnds to facilitate the Aspirational Awards 5¢h¢iiic. Stoke Hoiise Project - funds LO enable the purchase of inental liealth wcek suppoit pa¢k5 foi. Ihe Sioke House Project. NationwEde Coinmunity gi'ant - funds received for the 'Suptiorting Care Leaveis into the North West House Projects,. Energy Savings Trust - ielates to fvnds received to develop an approach io energy efficiency and fvel poverty for care leavtr5. LandAid - funds IEceived to siipport tl)e developineiit of the Croydoii House Project. Con5tiuction Bui'sai'y- funds to pi'ovide bui'sai'ies to Cate Leavers in the ccinslruction sector. Fveson Trust giznt- fiinds received t<) benefit people living in Walsall, Sandwell and Coventry. I,earning event grant- funds to cover the cost of attending a leaining event. A ti2nsfer was made from unrestricted funds to Aspirlltional Awards restricted fuDds to coyei. the additional expenditui'e on awar'ds beyond grants reeeived ovei. thc ycai". 18 Analysis of n¢t 355ets bet)vten funds Unrestricted fund$ General Total fund5 al 31 March 2025 Restrieted funds Tangible fixed assets Ciii'rent assets Cui'r¢nt liabilities 4,720 772,072 239,6761 4,720 778,589 (239,6761 6,517 Total net asset5 537,116 6,517 543.633 Unrestrieted funds Ge]heral Total fund5 91 31 March 2024 Re51ricted funds IntangEble fixed assets Tangible fixed assets Current assets CuiYen( liabilities 3,900 5,632 700,566 (377,160 3,900 5.632 736,697 (377,160) 36.131 TDtal net assets 332,938 36,131 369,069 Page 30
The Natioiial House Project CIO Noles to the fiinaneial Statements for the Year E( nded 31 M>ireh 2025 {eontinucd) 19 Aii8lysa5 uf nct funds At l April 2024 Aljl M4rch 2025 Cash now5 Cash at baiik and in hand 388,330) (48,857) {437,187) Net debt l {fuiids) (388,330) (48,857 (437,187) 20 Related party transactions There were no F¢lated pai'ty bznsactions in the year, asid¢ fi'om reimburstinent of Tnjstees expenses as detailed in Note 8. Page31