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 Scal￿nE (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 BiriningThl¢ 5t¢Ps for thE pi'¢v¢iition and detection of fraud aiid other [￿egUlarlties. The trustees are responbible for the nlainlei￿nLc aiid intewily ol th¢ corporate ￿ld f￿ancial inforination included oil the Charitable compaiiy's website. Legislation goveining the prepai'ation and disseminatioj) of f￿ancial 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 fil￿nClaI 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 lesou￿eS 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 apprOpr￿ate. 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 SI￿1fICatIE 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 f￿ancial 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 f￿ancial statements, the trLiStees are responsible for assessing the charity's ability to COnt￿nI1t 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 proced￿1¢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. In1s￿pi.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¢¢0￿￿tantS 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 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 nu￿ber. 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 Inte￿￿1 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 fin￿1claI 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 donireh 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