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2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1180865

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

HOPE INTO ACTION PORTSMOUTH

HOPE INTO ACTION PORTSMOUTH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 16

HOPE INTO ACTION PORTSMOUTH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Page 1

HOPE INTO ACTION PORTSMOUTH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Review of Objectives and activities

The principal object of the charity is to provide supported housing in the Portsmouth region to those who are homeless or insecurely housed.

The charity aims to use investment resources to buy houses for 2-3 tenants. Each home is linked to a local church that provides a positive community, friendship, befriending/mentoring and support. Also included is a professional Empowerment Worker who provides expertise to the tenants in benefits, tenancies, jobs, liaising with other agencies and action plans. Each house is opened with the support of a local church and they form a Friendship and Support group to support the tenants.

This holistic approach first seeks to address the immediate challenges facing the individual. Seeking to identify the reasons for homelessness and the underlying causes of their poverty. Then addressing the complexities that have kept them from progressing in life and achieving their goals. The biggest impact comes through building a positive framework of relationship through the support worker and the friendship and support group (FSG). This provides a safe environment for them to share and grow in confidence in a non-judgmental therapeutic dynamic. We try and build on the positive and seek to empower them to develop their strengths. Over time this builds self-worth and confidence. With new skills and qualifications, they develop new relationships reducing their isolation and work towards independent living.

There is a wider impact on the other services providing supported accommodation in the local area. As we seek to move people on from hostels and other local services to independent living, this frees up additional bed spaces along the pathway out of homelessness for people to progress through the system. There is also a wider benefit to the local community as we are assisting people to break their cycle of disadvantage so that they can get back to a position of contributing positively to society. Most of the individuals we work alongside progress on to their own independent living and become capable of supporting themselves rather than relying on the charity of others and the benefit system. Many find work and become assets within their local community participating towards the development of their local communities.

In making decisions relative to the running of the charity, the trustees have had due regard in all instances to the commission's public benefit guidance when exercising their powers or duties. Given that the objects of the charity are the relief of poverty specific rules apply in relation to the "public" aspect of the "public benefit". Despite this the trustees are nonetheless satisfied that there is a public aspect to the benefit as has been shown above with regards to the impact of the work of the charity on other organisations providing supported accommodation and the wider community.

There is an additional aspect to the benefit that is worth mentioning. It is our experience as a charitable organisation, the volunteers from our friendship and support groups also benefit from being involved in the activities that we provide as well as the churches who we are partnered with. There is an opportunity for the churches to demonstrate in a public way that they are relevant and involved in their local communities and making a real difference to people's lives. Each house is run in conjunction with a local church who sign a five-year partnership with us committing to build long-term, holistic relationships with the tenants who were formerly homeless.

Volunteers contribute a few hours a week and they tell us that they feel that they learn as much from volunteering alongside these individuals as the clients themselves. This is assisted by the fact that they themselves are provided with ongoing support and training throughout their time volunteering. An initial full day's training is complemented by ongoing training and support from staff who work for the charity in various capacities.

In so many regards this model is as much about a way of building community as it is about housing individuals. Tenants are empowered by volunteers, who are supported by Empowerment Workers.

Working together we are seeking to build a sense of friendship, family and support that transcends racial, social, cultural, political and religious divides for the purpose of building a better community. And in the process, individuals who are struggling with the challenges of poverty, identity, relationship and resource are seeing their problems reduced and therefore begin to regain their independence.

Page 2

HOPE INTO ACTION PORTSMOUTH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report.

ACHIEVEMENTS AND PERFORMANCE

Achievements and performance

The Trustee team was stable through most of this year until Sam Cullen resigned in February 2025. We were short of a third Trustee for the remainder of this financial year (she was then replaced by Edward Caush in May 2025).

Changes to the staff team in this year included a new Finance & Maintenance Administrator, Claire Loveridge, starting in August 2024 after Lynn Boakes left in June, and two new part-time Empowerment Workers, Elizabeth Caush and Emma Hawkins starting in May and June 2024, after full-time Empowerment Worker, Katherine Lawes left in April.

Refurbishment was completed on house number 11 in Emsworth and the house opened to tenants in August 2024. This brings our total housing investment value to just over £3 million. Additional work was required in many properties to install new smoke detectors to meet HMO regulations after the size of houses covered by HMO was reduced, so covering more of our houses.

Throughout the year, our occupancy rate has been very high, with a lowest value of 86%, so only a few beds vacant at any one time. One tenant had to be moved from the Portsmouth City Council area to our one house in another council area (Chichester), which has caused some disagreement on who is responsible for financially supporting this tenant - we are covering this cost until it is resolved between the two councils.

Four staff and three Friendship & Support Group volunteers attended the national HiA conference in March 2025, where one of our tenants won an award (although they weren't able to attend).

FINANCIAL REVIEW

Financial review

The Trustees' policy with regard to reserves is to seek to maintain unrestricted funds, other than those designated from time to time for specific purposes, at a level sufficient to provide the charity with enough working capital to carry on its existing activities successfully for two to four months. This will enable the trustees to ensure continuity of activities and honour contractual liabilities. As the Charity grows, it was agreed that we would calculate the reserves with a 90% occupancy rate.

The net income up to March 2025, was £289,547. £227,851 was received from Housing Allowance and represents 79% of our income.

In March 2025, the team consists of the Franchise Lead, a Finance and Maintenance Administrator and 4 Empowerment Workers.

At the end of March 2025 we are housing 27 tenants, including 4 children under 18. We have 4 vacancies.

Our costs ("charitable activities") were at £323,634. Our bank balance at the end of March was £47,421.98. All insurances are in place.

Reserves policy

The Trustees' policy with regard to reserves is to seek to maintain unrestricted funds, other than those designated from time to time for specific purposes, at a level sufficient to provide the charity with enough working capital to carry on its existing activities successfully for two to four months. This will enable the trustees to ensure continuity of activities and honour contractual liabilities.

Page 3

HOPE INTO ACTION PORTSMOUTH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Hope Into Action Portsmouth is a registered Charitable Incorporated Organisation and governed by its articles and memorandum of association and we are a franchise of Hope Into Action UK, which provides us with training, support, advice and expertise. We have adopted their policies, with minor adaptations as needed. Representatives of Hope Into Action UK carry out regular audits of our houses and meet with our tenants, to ensure that standards are maintained and risks are managed appropriately, with the wellbeing of our tenants being paramount.

As well as having a board of Directors, Hope Into Action Portsmouth also has Ambassadors who support and encourage the Charitable aims, and attend all Trustee Meetings. Ambassadors are appointed by the Board of Trustees and bring a particular specialism and skill set that the Trustees value. Trustees consult fully with the Ambassadors and make them fully aware of operational and governance plans.

Whilst there is a requirement to maintain the core elements of the Hope into Action model as part of being a franchisee, Hope into Action Portsmouth is free as an independent organisation to adapt the model to local circumstances and requirements. The trustees take this responsibility seriously and are keen to ensure that the charity implements the model faithfully since it has been demonstrated that it works but also to make sure that there is also an aspect of local expression and development.

In relation to risk and risk management, policies and procedures are in place to manage risk as best as can be foreseeable. Logs are maintained in order to record any incidents that may present a risk to the organisation and how risk is being managed:

In the event of major incidents, the Franchise Lead liaises with the Chair of Trustees who keeps the board informed of ongoing developments. Discussions take place to learn from the experience and to do things differently where required. Written reports are made of all major incidents, subsequent discussions, policy changes as a result and amended practices.

Outcomes

The charity has maintained outcomes that reflect the excellent standard of the work carried out. We deliberately do not set KPI's or aim for specific outcomes as we are convinced that the outcomes reflect the fact that we invest in building great relationships first and foremost.

For 2024-2025 we have achieved the following outcomes:

Quality Audit Report

Hope Into Action Portsmouth continues to work with the HiA UK Peterborough office welcoming the Annual Quality Audit Report that provides encouragement and points for improvement. It is discussed and monitored with our Franchise Lead and Trustees.

We were given feedback that our quality was of a high standard.

Independent examiner

In accordance with the company's articles, a resolution proposing that Morris Crocker be appointed as independent examiner of the charity will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees on 28th October 2025 and it was agreed that the Chair of Trustees would file them with the Charity Commission.

Page 4

HOPE INTO ACTION PORTSMOUTH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1180865

Principal address

St Cuthbert's Church Lichfield Road Portsmouth Hants PO3 6DE

Trustees

Rev Samantha Cullen (resigned 28.2.2025) Mr Stephen Macfarlane Mrs Elizabeth Mitchell Mr Edward Caush (appointed 1.5.2025)

Ambassadors

Ms Catherine Holehouse Mr Simon Murdoch

Independent Examiner

Paul Underwood, FCCA Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solent Portsmouth Hampshire PO6 4TY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

HOPE INro ACTION PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 PAARCH 2025 AFgroved by Ofder of the b￿r￿ of tnjstees on ...... . and on its b8haK by.. f,r, H, Mr Stephen M ane- Tntstee Pag8 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE INTO ACTION PORTSMOUTH

Independent examiner's report to the trustees of Hope Into Action Portsmouth

I report to the charity trustees on my examination of the accounts of Hope Into Action Portsmouth (the Trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paul Underwood, FCCA

Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solent Portsmouth Hampshire PO6 4TY

Date: .............................................9 January 2026

Page 7

HOPE INTO ACTION PORTSMOUTH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
15,444
Charitable activities
2
Charity activities
259,058
Other income
4,081
Total
278,583
EXPENDITURE ON
Charitable activities
3
Charity activities
280,029
NET INCOME/(EXPENDITURE)
(1,446)
Transfers between funds
13
(12,988)
Net movement in funds
(14,434)
RECONCILIATION OF FUNDS
Total funds brought forward
50,938
TOTAL FUNDS CARRIED FORWARD
36,504		 Restricted
fund
£
-
30,399
-
30,399
43,605
(13,206)
12,988
(218)
218
-		 2025
Total
funds
£
15,444
289,457
4,081
308,982
323,634
(14,652)
-
(14,652)
51,156
36,504		 2024
Total
funds
£
37,497
237,689
-
275,186
281,691
(6,505)
-
(6,505)
57,661
51,156

The notes form part of these financial statements

Page 8

HOPE INTO ACTION PORTSMOUTH BAL4NCE SHEET 31 MARCH 2025 2025 2024 FIXED ASSETS Tangible assets 717 1,433 CURRENT ASSETS Debtors Cash at bank 10 4.838 34.489 S,842 45,616 39,327 51,458 CREDITORS Arnounts falling due within one year 11 13.5401 11.735} CURRENT ASSErs 35,787 49,723 TOTAL ASSETS LESS CURREpif LIA8ILmES 36.504 51,158 NET ASSETS 51.156 FUNDS Unrestricted funds Restn"ct8d funds 13 36,504 50,938 218 TOTAL FUNDS 36,504 51,156 The finanFial statemenls were appmved by the BOO￿ of Trustees and authorised for issue on .. and were strgned on its tr*half by.. Mr Stephen Ma ane- Tnjstee The notes fomi part ofthese financial slatements Page 9

HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Going Concern

The trustees are of the opinion that the Charity can continue to meet its obligations for at least twelve months after the signing of the accounts and that the Charity will continue in operational existence for the foreseeable future. Therefore the trustees continue to adopt the going concern basis in preparing the Annual Report and financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The trustees' have assessed the financial statements and confirm that no critical accounting judgements or key sources of estimation uncertainty have been identified that would materially affect the reported amounts.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost Computer equipment - 33% on cost

Individual fixed assets costing £250 or more are capitalised at cost.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in complicated investment products.

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HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Financial instruments

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the period.

INCOME FROM CHARITABLE ACTIVITIES

2.

Activity
Grants
Charity activities
Income from housing benefit
and tenants
Charity activities
Income from investors
Charity activities
Other Income
Charity activities
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 4)
£
Charity activities
320,804		 2025
£
700
227,851
60,906
-
289,457
Support
costs (see
note 5)
£
2,830		 2024
£
-
214,875
22,238
576
237,689
Totals
£
323,634

3. CHARITABLE ACTIVITIES COSTS

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HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

4. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Insurance
Premises costs
Refurbishment, repairs and renewals
Staff expenses
General administration
Travel and subsistence
Franchise fee
Investor rentals
Legal and professional fees
5.
SUPPORT COSTS
Charity activities
Support costs, included in the above, are as follows:
Other
Depreciation of tangible fixed assets
Governance costs
Accountancy fees
Independent examination		 2025
£
117,279
6,033
45,064
50,579
4,758
2,018
3,653
1,500
87,210
2,710
320,804
Governance
Other
costs
£
£
717
2,113
2025
Charity
activities
£
717
2025
Charity
activities
£
475
1,638
2,113		 2024
£
127,384
4,089
35,461
58,957
4,030
2,819
2,680
1,650
36,406
5,160		 2024
£
127,384
4,089
35,461
58,957
4,030
2,819
2,680
1,650
36,406
5,160
278,636
Totals
£
2,830
2024
Total
activities
£
717
2024
Total
activities
£
850
1,488
2,338
2,338

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continued...

HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

During the year no trustees' (2024: 1) were reimbursed out of pocket (2024: £46).

7.

8.

STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Operations manager
Empowerment worker
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
37,497
Charitable activities
Charity activities
237,689
Total
275,186
EXPENDITURE ON
Charitable activities
Charity activities
247,929
NET INCOME/(EXPENDITURE)
27,257
RECONCILIATION OF FUNDS
Total funds brought forward
23,681
TOTAL FUNDS CARRIED FORWARD
50,938		 2025
£
117,279
117,279
2025
1
5
6
Restricted
fund
£
-
-
-
33,762
(33,762)
33,980
218		 2024
£
127,384
127,384
2024
1
5
6
Total
funds
£
37,497
237,689
275,186
281,691
(6,505)
57,661
51,156

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HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

9.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2024 and 31 March 2025
952
1,580
DEPRECIATION
At 1 April 2024
318
781
Charge for year
190
526
At 31 March 2025
508
1,307
NET BOOK VALUE
At 31 March 2025
444
273
At 31 March 2024
634
799
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
2,670
Prepayments and accrued income
2,168
4,838
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Other creditors
3,540
12.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2025
Unrestricted
Restricted
Total
fund
fund
funds
£
£
£
Fixed assets
717
-
717
Current assets
39,327
-
39,327
Current liabilities
(3,540)
-
(3,540)
36,504
-
36,504		 Totals
£
2,532
1,099
716
1,815
717
1,433
2024
£
3,662
2,180
5,842
2024
£
1,735
2024
Total
funds
£
1,433
51,458
(1,735)
51,156

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HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. MOVEMENT IN FUNDS

At 1.4.24
£
Unrestricted funds
General fund
50,938
Restricted funds
Specific gifts
218
TOTAL FUNDS
51,156
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Specific gifts
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Specific gifts
TOTAL FUNDS		 Net
movement
in funds
£
(1,446)
(13,206)
(14,652)
Incoming
resources
£
278,583
30,399
308,982
At 1.4.23
£
23,681
33,980
57,661		 Transfers
between
At
funds
31.3.25
£
£
(12,988)
36,504
12,988
-
-
36,504
Resources
Movement
expended
in funds
£
£
(280,029)
(1,446)
(43,605)
(13,206)
(323,634)
(14,652)
Net
movement
At
in funds
31.3.24
£
£
27,257
50,938
(33,762)
218
(6,505)
51,156

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HOPE INTO ACTION PORTSMOUTH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Specific gifts
TOTAL FUNDS		 Incoming
resources
£
275,186
-
275,186		 Resources
Movement
expended
in funds
£
£
(247,929)
27,257
(33,762)
(33,762)
(281,691)
(6,505)

Specific Gifts - this fund relates to monies received from investors specifically for costs in relation to Carnarvon Rd and Bell Rd

Transfer between funds

The transfers between funds represent unrestricted funds transferred to cover the additional spend on the restricted funds.

14. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents the contributions payable by the charity to the fund and amounted to £5,829 (2024 - £6,647). Contributions totalling Nil (2024 - £175) were payable to the fund at the balance sheet date and are included in creditors.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 16